NewzIntel.com

Category: Politics

  • MIL-OSI New Zealand: Another step towards Pasifika justice

    Source: Green Party

    The Green Party acknowledges the historical importance of MP Teanau Tuiono’s Member’s Bill, Restoring Citizenship Removed By Citizenship (Western Samoa) Act 1982 Bill, passing its second reading in Parliament today. 

    “Today marks another momentous step on our journey towards justice in Aotearoa,” says the Green Party’s spokesperson for Pacific Peoples, Teanau Tuiono.

    Teanau Tuiono’s Restoring Citizenship Removed By Citizenship (Western Samoa) Act 1982 Bill would restore the right to citizenship for people from Western Samoa who were born between 1924 and 1949, fixing a cruel and targeted law from the 80s. 

    “With each step we are getting closer to righting a deeply unjust and unfair wrong. 

    “I am heartened by the will of MPs across the political divide to correct the historical injustice by which the New Zealand Government in 1982 stripped citizenship from thousands of Samoans. 

    “That right to citizenship was taken away from them despite the Privy Council finding earlier that year that under New Zealand law they were entitled to citizenship.

    “The progress of this Bill so far couldn’t have been achieved without the inter-generational efforts of the Samoan community who shared their stories with the select committee.

    “Among those in the public gallery today were members of the very community whose right to citizenship was removed. I hope the passage of my Bill goes some way to atoning for past wrongs by the state.

    “It is well past time to amend this law and put things right,” says Teanau Tuiono.

    Additional information:

    • New Zealand citizenship wasn’t created until 1948. Before then, New Zealanders were British subjects
    • At the time citizenship was created, New Zealand was administering present day Samoa (known until 1997 as Western Samoa)
    • In 1982, Falema‘i Lesa, a Samoan citizen living in New Zealand, was prosecuted for overstaying. She argued she wasn’t overstaying, as she said she was a New Zealand citizen
    • The Privy Council ruled that, because earlier NZ legislation had treated those born in Western Samoa after 13 May 1924 as “natural-born British subjects” for the purposes of NZ law, that cohort of people received NZ citizenship when NZ established its own citizenship in 1948
    • The Muldoon Government acted swiftly and in 1982 passed the Citizenship (Western Samoa) Act 1982
    • The 1982 Act removed NZ citizenship from those people who, under the earlier NZ legislation, had NZ citizenship because they were born in Western Samoa between 13 May 1924 and 1 January 1949, and those claiming citizenship through those people by descent or marriage

    The Restoring Citizenship Removed By Citizenship (Western Samoa) Act 1982 would mean that a person whose NZ citizenship was removed by the 1982 Act will be eligible for citizenship as of right, instead of having to go through the standard residency and citizenship application processes.

    MIL OSI New Zealand News –

  • MIL-OSI China: Dubai Chambers sees opportunities for mutual Sino-Middle Eastern growth

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

    Chinese companies have made significant economic contributions to the Middle East region’s economy across a variety of sectors and are believed to continue to play an essential role in the region’s future development, said Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers.

    “The increasing two-way investments between the two markets reflect the synergies created by China-proposed Belt and Road Initiative and the Dubai Economic Agenda (D33), which unlock significant opportunities for mutual growth,” said Lootah in an interview with China Daily.

    Lootah added that both markets emphasize building a knowledge-based economy and that key areas such as technology, renewable energy, logistics, healthcare and infrastructure are poised for steady growth and will serve as important areas for mutual development and cooperation.

    According to Dubai Chambers’ data, China has emerged as Dubai’s biggest trading partner, with non-oil trade between the two sides reaching $67.8 billion in 2023.

    In addition, the total number of Chinese companies registered as active members of the Dubai Chamber of Commerce stood at 5,480 at the end of August, which increased 41 percent between 2022 and 2023, the chamber’s data said.

    “These companies have played a significant role in industries such as technology, real estate, manufacturing, and logistics, driving local job creation and economic diversification,” Lootah said.

    He made the remarks during the just-concluded SuperBridge Summit 2024 in Dubai this month, which taps the increasingly important Middle East market to emerge as a new economic powerhouse.

    “China and the Middle East, both as developing economies, have a deep understanding of each other’s economic development situations and have accumulated extensive experience across various industries, which can be mutually beneficial and help businesses to grow more effectively on both sides,” said Vanessa Xu, co-founder of SuperBridge Council, the event’s organizer.

    “The rapid development and substantial demand in the Middle East for emerging sectors, such as the digital economy, e-commerce, new energy, aerospace and biomedicine, also present broad opportunities for Chinese companies,” Xu said.

    Lootah also said he believes one of the most important cooperation sectors for Dubai and China is digital transformation.

    “China has emerged as a leader in advanced technologies, and we share its strong commitment to innovation. We are keen to deepen cooperation in sectors including artificial intelligence, the internet of things and blockchain,” he said.

    Lootah added that collaboration between the two sides will create opportunities for partnerships in digital infrastructure and smart city projects, as well as bring Dubai closer to achieving the D33 agenda target of generating an annual economic contribution of 100 billion UAE dirhams ($27.2 billion) from digital transformation projects.

    The Middle East market also boasts other advantages such as its geographic position linking global markets, and the six Gulf Cooperation Council countries have some of the highest per capita GDPs in the world, reflecting a high level of economic development and a promising consumer market, Xu said.

    For example, with its Saudi Vision 2030 initiative, Saudi Arabia presents significant market potential, but entering the market comes with high barriers, favoring companies that have already established business models and strong localization capabilities, Xu said.

    “While the economy is largely driven by oil, the private sector remains relatively underdeveloped, so the landscape especially provides opportunities for foreign companies to engage in partnerships with local governments, state-owned enterprises and banks,” she added.

    In contrast, the UAE has made greater strides in terms of business environment and openness, Xu said. According to the World Bank’s 2024 business environment report, the UAE ranks third in the Arab world and 25th globally, underscoring the country’s ongoing regulatory improvements and the ease of starting and operating businesses there.

    “When considering which market to enter, Chinese companies should assess the different regional development priorities alongside their own core strengths and strategic needs,” Xu said.

    MIL OSI China News –

  • MIL-OSI New Zealand: Parliament Hansard Report – Thursday, 24 October 2024 – Volume 779 – 001435

    Source: New Zealand Parliament – Hansard

    ORAL QUESTIONS

    QUESTIONS TO MINISTERS

    Question No. 1—Prime Minister

    1. TAMATHA PAUL (Green—Wellington Central) to the Acting Prime Minister: What commitments, if any, will the Government make to ensuring the 44 recommendations from the Royal Commission of Inquiry into the Terrorist Attack on Christchurch Mosques continue to be implemented?

    Rt Hon WINSTON PETERS (Acting Prime Minister): First, we would like to acknowledge that March 15 was one of the darkest days for New Zealand. In light of ongoing work, the coordinated cross-Government response to the Royal Commission of Inquiry into the Terrorist Attack on Christchurch Mosques has been concluded. As we announced earlier in the year, the Government made decisions on all remaining royal commission of inquiry recommendations as the coordinated cross-Government response concluded, as well. The majority of the recommendations were either implemented fully or were still being progressed. We implemented 36 of the 44 recommendations, demonstrating the Government’s commitment to ensuring the intent of the royal commission of inquiry is still met with the ongoing work that Government agencies are still doing to keep New Zealanders safe.

    Tamatha Paul: Will he commit to continue to fund He Whenua Taurikura, the violent extremism research centre, noting the increase in Islamophobia and antisemitism and royal commission recommendations on improving how we respond to extremism?

    Rt Hon WINSTON PETERS: No, the fact is that the Department of Prime Minister and Cabinet is looking at better options for the best use of that funding. Now, detailed questions should, of course, have been addressed to the responsible Minister.

    Tamatha Paul: How is weakening firearms controls consistent with the royal commission’s recommendations to tighten firearms licensing systems?

    Rt Hon WINSTON PETERS: The question concerns a subject that is a work in progress at this point of time. The Government has committed to a significant programme to reform firearms law over this parliamentary term and work is substantially already under way. In January this year, the responsibility for the Arms Act 1983 was reassigned from police to the justice portfolio and delegated to the Associate Minister of Justice (Firearms). Reform provides a chance to modernise the regime and simplify the requirements on licensed firearms owners without compromising public safety. And, of course, detailed questions should be addressed to the responsible Minister.

    Ricardo Menéndez March: Point of order. Just noting those statements at the end of both questions, this was a question that was transferred, and I am concerned that after the Government has transferred that question, we just kept getting told that those questions should have been referred to the adequate Minister, when the Government side chose to actually make the Acting Prime Minister answer questions on this topic.

    Rt Hon Winston Peters: Speaking to the point of order, any experienced parliamentarian will know that generic questions can be answered by the Prime Minister, but when it comes to specific details, if they are seriously being sought, the specificity of the detail should be asked of the responsible Minister.

    SPEAKER: I think the problem is that the question was originally asked to the responsible Minister, but then got transferred to the Acting Prime Minister. That means that it’s quite inappropriate to then say that the member should ask the appropriate Minister when, in fact, they did, and the Government, somewhere along the line, decided that it would be the Acting Prime Minister who answered it.

    Tamatha Paul: Will the Government commit to introducing faith as a protected category, noting the royal commission’s recommendations to ensure Aotearoa has fit for purpose hate crime laws and policies?

    Rt Hon WINSTON PETERS: I’m sorry, Mr Speaker, I didn’t hear the questioner’s question. Could you repeat the question, please?

    SPEAKER: Ask it again, and can you just face your mike—sometimes, they don’t pick everything up. Thank you.

    Tamatha Paul: Yep. Will the Government commit to introducing faith as a protected category, noting the royal commission’s recommendations to ensure Aotearoa has fit for purpose hate crime laws and policies?

    Rt Hon WINSTON PETERS: Could I just reply, on behalf of the Government, that we will consider all reasonable requests if they are made for the purpose of ensuring that we’re a safer country.

    Tamatha Paul: How will the Government commit to ongoing support for whānau of the shuhada, the bullet-wounded, and the impacted families?

    Rt Hon WINSTON PETERS: As someone who sat around the Cabinet table preparing all the work in terms of supporting those families—which was immense and highly responsible and was applauded all around the world—I would say that we’ve continued to make that commitment, going forward.

    Tamatha Paul: How will the Government address the fact that police data shows that 58 percent of all reported faith-motivated hate crimes target Aotearoa’s Muslim community?

    Rt Hon WINSTON PETERS: Let me say that we’re willing to look into all information, but the country that I belong to is a country called New Zealand, and it will be that way until the New Zealand people decide to change its name—not by some elite purpose, but because we believe in referendum and consensus.

    Ricardo Menéndez March: Point of order. Litigating whether my colleague used “Aotearoa” as opposed to “New Zealand” fails completely to address the question on actually quite a serious issue.

    SPEAKER: No, it definitely addressed the question; whether it addressed it satisfactorily is another matter. Did the member can have another question? No—OK.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: New appointments to the Local Government Commission

    Source: New Zealand Government

    Local Government Minister Simeon Brown has today announced the reappointment of the current Chair and the appointment of a temporary member to the Local Government Commission.

    Current Chair Brendan Duffy ONZM has been reappointed as Chair for a one-year term ending 23 October 2025, while Gwen Bull CNZM will be joining the Commission as a temporary member to cover the representation review period. 

    “Our Government is focused on ensuring that local communities have fair and effective representation at local elections so that residents can decide who is best to take their cities, towns, and regions forward,” Mr Brown says. 

    “Mr Duffy was first appointed as a member of the Commission in 2017 and promoted to Chair in 2019. Mr Duffy was the Mayor of Horowhenua for 12 years and a District Councillor for 10 years. He is the current Chair of the Palmerston North Hospital Foundation and the Business Kāpiti Horowhenua Board, he is also a current Trustee of Horowhenua Learning Centre and Electra Trust.

    “Ms Bull was the Chair of the Auckland Regional Council from 2002 to 2004, the current Chair of the Clevedon Community Trust, and a Patron of Friends of Te Wairoa and the Franklin District JP Association. She is an experienced operator in the local government sector and will be a welcome addition during the busy representation review period.

    “The Commission’s focus for the coming period is on representation reviews. These reviews will be undertaken by local authorities to ensure that local residents have fair and effective representation at the 2025 local elections.”

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Ombudsman announces investigation results on enforcement against unauthorised land developments and implementation progress of strategic focus on interdepartmental collaboration (with photos)

    Source: Hong Kong Government special administrative region

    Ombudsman announces investigation results on enforcement against unauthorised land developments and implementation progress of strategic focus on interdepartmental collaboration (with photos)
    Ombudsman announces investigation results on enforcement against unauthorised land developments and implementation progress of strategic focus on interdepartmental collaboration (with photos)
    ******************************************************************************************

    The following is issued on behalf of the Office of The Ombudsman:     The Ombudsman, Mr Jack Chan, today (October 24) announced the completion of a direct investigation operation regarding the enforcement by the Planning Department (PlanD) and the Lands Department (LandsD) against unauthorised land developments, and made 16 major recommendations for improvement to the two departments.     In the rural New Territories, common unauthorised developments under the Town Planning Ordinance (TPO) include filling of pond or land in “Agriculture”, “Green Belt” and conservation zones for storage, workshop and parking uses. For many years, the PlanD had not been empowered to take enforcement action in rural areas not previously covered by development permission areas. The Office is pleased to note that with the amended TPO coming into effect in September 2023, the Secretary for Development may designate rural areas in the New Territories with ecological value, which are subject to development pressure and risks of environmental degradation, to be “regulated areas”, so as to plug the loophole by enabling the PlanD’s enforcement action against unauthorised developments in such areas.       From 2018 to 2023, the PlanD received an annual average of 1 680 complaints about unauthorised developments. During the same period, combining complaints, proactive inspections and referrals from other departments, the PlanD identified an annual average of 425 unauthorised development cases involving private land.     Regarding the unauthorised development cases identified, the PlanD issued an annual average of more than 3 000 statutory notices demanding rectification. The compliance rate of such notices ranged from 69 per cent to 88 per cent between 2018 and 2023, reflecting the deterrent effect of the PlanD’s existing enforcement measures against most offenders. During the same period, the PlanD instigated prosecutions in a total of 475 cases of non-compliance with statutory notices, among which 65 involved repeated prosecutions.      The Office of The Ombudsman’s investigation found that for cases involving repeated breaches of the TPO, the PlanD would, depending on whether the unauthorised development recurred within one year, shorten the timeframe for compliance with the Enforcement Notice from the normal three months to a minimum of one month.   Given that cases of repeated breaches generally involve irregularities that are easy to rectify and prone to recur (such as storage and parking uses), the existing practice of the PlanD might not have a sufficient deterrent effect on some repeated offenders. The Office recommends that, regarding cases of repeated breaches, the PlanD should explore considering more factors in setting the timeframe for compliance with statutory notices and progressively shortening the timeframe upon subsequent breaches to raise offenders’ costs of non-compliance proportionately.     As for cases that breach the TPO while concurrently involving unlawful occupation of government land, it is often difficult to confirm the identity of the occupier or responsible person. Hence, such cases are currently handled by the LandsD under the Land (Miscellaneous Provisions) Ordinance by demolishing and taking possession of the property and structures on the land. The LandsD prioritises different types of cases under a risk-based approach. Nevertheless, the Office’s investigation revealed that for cases involving both priority and non-priority circumstances, the LandsD’s existing guidelines for staff were unclear about how each case should be classified as a whole.  There were also cases revealing the LandsD’s failure to complete priority cases in a timely manner. The Office considers that the LandsD should comprehensively review its existing guidelines, put in place a monitoring mechanism and step up training to ensure proper follow-up of cases by its staff.     Mr Chan said, “The Government is duty-bound to combat unauthorised land developments rigorously to safeguard the environment and optimise the use of valuable land resources. Overall, the Office considers that both the PlanD and the LandsD have handled unauthorised development cases according to their purview and statutory powers; however, there is still room for improvement regarding enforcement procedures and intensity. Moreover, the Office noticed that during the initial stage of this direct investigation operation, there was indeed room for enhancement in the efficiency of collaboration between the PlanD and the LandsD. The Office is pleased to note that both departments responded positively to its observations and opinions by proactively establishing a joint working group co-led by their deputy directors, and introducing a pilot scheme involving two large-scale unauthorised developments related to private agricultural land selected for joint enforcement operations. In addition to reviewing the above new initiatives in a timely manner, to further deepen collaboration, the Office recommends that the PlanD and the LandsD establish a database for unauthorised development cases to facilitate interdepartmental intelligence sharing and enforcement, as well as formulate targeted measures for high-risk sites to nip problems in the bud.     “Looking ahead, as the current-term Government actively implements various land development projects, land use in the rural New Territories will undergo vast changes. Unauthorised developments may differ in mode, scale, etc. The PlanD and the LandsD, as enforcement authorities, should conduct a systemic review after the implementation of the various improvement measures. The two departments should also adapt to the circumstances, continuously deepen reform and innovate, and improve the operational mechanisms and collaboration to strengthen their ability to prevent and handle unauthorised developments.”     The Office has made the following major improvement recommendations to the PlanD and the LandsD: 

    regarding cases involving repeated breaches of the TPO, the PlanD to explore considering more factors (including the total number of breaches committed by the offender, the gross area of the site, the nature of irregularities and the impact on environmental hygiene) in setting the timeframe for compliance with statutory notices and progressively shortening such timeframe upon subsequent breaches to raise offenders’ costs of non-compliance proportionately;

    the PlanD to draw up guidelines on the procedures and target timeframe for handling unauthorised development cases involving a change in ownership for periodic circulation to staff to avoid omission of necessary action;

    the PlanD to step up efforts to explain the basics of the Reinstatement Notice through such publicity channels as its official website to promote public awareness of its enforcement measures and avoid misunderstanding;

    the PlanD to step up education and publicity to enhance private land owners’ understanding of their obligations, the damage caused by unauthorised developments to the environment, the enforcement role of the department, the price to be paid by offenders and the essential features of the TPO to raise law-bidding awareness;

    the LandsD to comprehensively review its existing guidelines and specify clearly the various factors for determining whether a case falls within the priority category, supplemented with real cases to illustrate how to assess cases involving both priority and non-priority circumstances, for compliance by staff; 

    the LandsD to put in place a monitoring mechanism to ensure proper prioritisation of different cases by staff;

    the LandsD to step up training to ensure that staff clearly understand the enforcement role of the department and take timely action against non-compliance with the law and lease conditions according to its performance indicators;

    the PlanD and the LandsD to consider drawing up a mechanism and timetable for timely review of the joint working group’s guiding direction, thereby ensuring that the new measures can serve the purpose of enhancing interdepartmental collaboration;

    the PlanD and the LandsD to conduct timely review of the effectiveness of the pilot scheme on joint enforcement operations; 

    the PlanD and the LandsD to respectively review the data they maintained on interdepartmental unauthorised development cases and enforcement action, and discuss any need to incorporate more data items, thereby providing a more precise and comprehensive basis for monitoring and analysing enforcement work;

    the PlanD and the LandsD to consider establishing a database on unauthorised development cases with such information as the identity of offenders, subject locations, irregularities and results of follow-up action, thereby facilitating interdepartmental intelligence sharing and enforcement;

    the PlanD and the LandsD, making use of the above newly established database, to formulate targeted measures for high-risk sites having regard to such factors as the severity of breaches and whether repeated breaches are involved to nip problems in the bud;

    in light of the amended TPO, the PlanD and the LandsD to review the enforcement and case referral procedures in a timely manner and explore room for further streamlining and consolidation to optimise the use of resources for coping with an anticipated increase in enforcement work; and

    the PlanD and the LandsD to conduct a systemic review after the implementation of the various improvement measures. The two departments should also adapt to the circumstances, continuously deepen reform and innovate, and improve operational mechanisms and collaboration to strengthen their ability to prevent and handle unauthorised developments.

         Upon Mr Chan’s assumption of office, one of the strategic focuses of the Office is to make every effort to promote interdepartmental collaboration. Effective interdepartmental collaboration is indispensable to efficient and people-oriented public administration as well as good governance. A lack of co-ordination among different departments or organisations is prone to shirking responsibilities, thereby directly affecting the well-being of the public. When handling relevant cases, the Office will request all departments and organisations concerned to take follow-up action and fully collaborate with other agencies, with a view to effectively resolving the difficulties facing the public. Where unclear divisions of responsibilities involve systemic issues, the Office will firmly point out the crux of the matter and urge the departments and organisations to seriously rationalise responsibilities or, if necessary, establish high-level platforms for resolving disputes, in order to address the problem at its root.      Furthermore, as different departments and organisations have their respective professional knowledge, expertise and experience, fostering their collaboration can create a synergy effect, thereby enhancing the quality and standard of public administration. Therefore, through handling cases and organising seminars and experience-sharing sessions from time to time, the Office tirelessly encourages various departments and organisations to deepen collaboration in their daily work on all fronts, including setting up communication and collaboration platforms, optimising case referral procedures, formulating information exchange mechanisms, sharing professional skills and technology, and launching joint operations.      The above direct investigation operation is a successful example of the Office’s efforts to promote interdepartmental collaboration. In addition, in the first half of this reporting year (i.e. from April to September 2024), the Office has handled 94 cases involving interdepartmental collaboration. The Office has also progressively launched on its website and social media platforms real cases of interdepartmental collaboration to enhance public understanding of how the Office addresses their needs through promoting interdepartmental collaboration.      “In the coming years, the overriding objective of the Office is to help resolve the difficulties facing the public in order to improve people’s livelihood and foster social harmony. I encourage all government departments and public organisations to work together on the premise of ‘Improving people’s livelihood’, and jointly enhance administrative arrangements for better public services and a stronger sense of gain and happiness among members of our community.”            The full investigation report has been uploaded to the website of the Office of The Ombudsman at www.ombudsman.hk for public information.

     
    Ends/Thursday, October 24, 2024Issued at HKT 11:15

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: VESEP grants announced for CFA projects

    Source: Victoria Country Fire Authority

    From L-R: ACFO John Jugam, DCO Trevor Owen, Drouin brigade members Judy Brown, Darren Fox, Mark Dryden, Captain Peter Buur, Minister Jaclyn Symes, CFA Board member Peter Shaw, Mark Fox

    CFA brigades and groups will share in almost $11.2 million funding to purchase new equipment to help protect their communities.

    The Victorian Government’s 2024/25 Volunteer Emergency Services Equipment Program (VESEP) funding was announced today, by the Minister for Emergency Services Jacyln Symes.

    The announcement took place at the Drouin Fire Station who received VESEP funding in this year’s grants to purchase a new Field Command Vehicle (FCV).

    Drouin Captain Peter Burr said the Field Command Vehicle would replace the brigades existing car.

    “The FCV is a more appropriate vehicle that will benefit the Drouin community as well as the wider Baw Baw group,” Peter said.  

    “It will be a great asset for the brigade, and we welcome this announcement today.”

    The Drouin Fire Brigade fundraised $35,500 and the VESEP funding contribution was $71,000.

    The brigade was also successful in last year’s VESEP grants and recently purchased a thermal imaging camera. The camera is for the tanker and is used for fire and in urban environments to search out hotspots to efficiently contain and extinguish fires.

    The VESEP funding announced today has been spread across 167 projects that included a range of replacement vehicles for brigades including an additional 11 new ultra light tankers, 6 Bigfills and 18 Field Command Vehicles.

    CFA Chief Officer Jason Heffernan said VESEP grants help provide brigades with significant funding for life-saving equipment.

    “This program provides $2 for every $1 of funding from the brigade and helps with the purchase of equipment such as vehicles, trucks, tankers, watercraft, trailers, and can also include minor facility improvements,” CO Heffernan said.

    “The contribution from the government towards equipment means brigades like Drouin have a great incentive to fundraise in their communities and apply for a VESEP grant.

    “There are also Special Access Grants available to provide a further financial boost for brigades that face challenges with fundraising.”

    The full list of successful applicants has been published on the Emergency Management Victoria website.

    Submitted by CFA Media

    MIL OSI News –

  • MIL-OSI New Zealand: New members appointed to the Waitangi Tribunal

    Source: New Zealand Government

    Māori Development Minister Tama Potaka today confirmed the appointment of two new members to the Waitangi Tribunal, as well as the reappointment of Kevin Prime.

    The members appointed and reappointed are:

    Hon Richard Prebble (CBE). Mr Prebble is a former Cabinet Minister where he held a broad range of portfolios. Since leaving parliament, he has provided pro bono advice to various Māori trusts, hapū, and iwi on a variety of issues. 

    Ken Williamson (KStJ). Mr Williamson is a Distinguished Fellow of the Institute of Directors and a Fellow of the Insurance Brokers Association of New Zealand. He has extensive experience as a practitioner and governor in risk prevention, risk management and disaster management.

    Kevin Prime (CNZM). (Ngāti Hine, Ngāpuhi, Ngāti Whatua, Tainui) has been reappointed to the Waitangi Tribunal for a second term. Mr Prime is an accomplished and experienced member of the tribunal. He is a current member of several inquiries including the Constitutional Kaupapa Inquiry (Wai 3300).

    “Congratulations to Richard and Ken on their appointments, and to Kevin for his reappointment,” Mr Potaka says. 

    “These appointments will ensure the tribunal continues to provide a forum to hear and report Māori Treaty claims in a timely manner. They will ultimately support the progress of the Treaty-based Crown-Māori relationship.

    “Waitangi Tribunal members bring with them a range of knowledge and skills and are appointed for their broad expertise in the matters that are likely to come before the Tribunal. 

    “Ensuring we have a range of talented appointees on tribunals and boards is absolutely key to the delivery of better public services.”

    Nō te rangi tonu nei te Minita Whanaketanga Māori, a Minita Tama Potaka, whakatūturungia ai te whakatūngia o ngā mema hōu e rua ki Te Rōpū Whakamana i Te Tiriti o Waitangi, me te whakatūngia anō o Kevin Prime.

    Ko ngā mema i whakatūngia, i whakatūngia anō hoki ko:

    Hon Richard Prebble (CBE). He Mema o mua a Mr Prebble o te Kāhui Minita, i reira ia aratakina ai ngā huihuinga kaupapa whakaehu. Nō tāna wehenga i te pāremata, kua tukuna ōna whakamāherehere utu kore ki ngā tini tiakitanga Māori, ki ngā hapū, me ngā iwi i ngā kaupapa huhua.

    Ken Williamson (KStJ). HeTuatangata Ahurei a Mr Williamson nō te Institute of Directors, he Tuatangata hoki ia nō te Insurance Brokers Association of New Zealand. Kua whānui ōna wheako hei mātanga, hei kāwana hoki i te aukatinga tūrarutanga, me te whakaritenga wairuatoa.

    Kua whakatūngia anō a Kevin Prime (KStJ). (Ngāti Hine, Ngāpuhi, Ngāti Whatua, Tainui) ki tāna kaupeka tuarua i Te Rōpū Whakamana i Te Tiriti o Waitangi. He mātanga, he ringa rehe hoki a Mr Prime i te taraipiunara. He mema ia nō ngā tini pakirehua, tae rā anō ki te Constitutional Kaupapa Inquiry (Wai 3300).

    “E papaki nei ngā tai o whakamānawa ki a Richard rāua ko Ken i te whakatūngia o rāua, ki a Kevin hoki i te whakatūngia anō ōna,” hei tā Tama Potaka. 

    “Mā ngā whakatūnga nei e pai tonu ai tā te taraipiunara whakawātea i te pae e rangonga ai, e pūrongotia ai hoki ngā kerēme Tiriti Māori hei ngā wā tika. Korekore ka tokona e rātou te anganga whakamuatanga o te patuitanga ā-Tiriti o te Karauna me te Māori.

    “Ko tā ngā mema o Te Rōpū Whakamana i Te Tiriti o Waitangi he tari atu i ngā mātauranga me ngā pūkenga whānui, me te aha anō, ka whakatūngia rātou kei te āhua o te whānui o ngā pūkenga mō ngā kaupapa e tinga nei ka taka mai ki te aroaro o te Rōpū Whakamana.

    “Ko te iho o te tukunga pai i ngā ratonga tūmatanui ko te whānui o ngā mātanga ka noho mai ki ngā taraipiunara me ngā poari.”

    MIL OSI New Zealand News –

  • MIL-OSI China: Chinese NGOs aim to make bigger intl impact

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

    China has cultivated thousands of technology-focused nongovernmental organizations in recent years to stimulate innovation and bolster its influence in global research and development governance, a Ministry of Civil Affairs official said on Wednesday.

    Zhang Lin, a deputy head of the ministry’s bureau of NGO administration, said that by the end of last year, China had over 24,000 such organizations at the forefront of technological innovation, playing a crucial role in advancing the nation’s expertise in competitive technologies.

    “At the same time, the ministry is fostering national and international social organizations to facilitate engagement in global scientific and technological governance initiatives,” she told a news conference in Beijing.

    Technology-based organizations have increasingly emerged as a pivotal force propelling China toward technological advancement.

    Authorities have recognized their crucial role in uniting and mobilizing technology professionals to serve the national interest, fostering collaboration among industries, academia and researchers, promoting exchanges and showcasing industry expertise.

    In a significant move to enhance the global influence of these groups, the ministry introduced rules in 2021 enabling Chinese NGOs to recruit renowned foreign scientists and appoint them to management positions.

    While the full text of the rules has not been publicly disclosed, a media release on the ministry’s website stated that the regulations mandated these NGOs to improve communication and engagement with foreign technology experts.

    The release emphasized that these organizations should establish a robust service system tailored to the needs of foreign technology professionals, fostering a stronger sense of belonging and integration within the community.

    The Chinese Institute of Electronics, one of over 200 national-level technology-focused organizations, plays a crucial role in advancing technological development in China.

    According to its website, the institute is responsible for a variety of tasks, including organizing international seminars, publishing influential papers and recommending talent to governmental bodies.

    With a membership exceeding 170,000 professionals with strong knowledge on subjects such as semiconductors, computer science, communication technologies and radar, the institute also manages the editing and publication of 10 esteemed academic journals covering topics in its members’ respective fields. Since 2003, it has honored outstanding scientists with its annual Science and Technology Award.

    The institute describes itself as a national academic nonprofit social organization that was voluntarily established by technology workers in the electronic information sector, related enterprises and institutions, and social groups.

    “We are an important social force in the development of China’s electronic information technology industry,” the institute said in its charter.

    International NGOs focusing on technology have significantly influenced global science governance by organizing academic conferences, publishing influential works and presenting awards.

    Last year, the Chinese government announced the establishment of 17 such NGOs.

    One notable organization among them is the Alliance of National and International Science Organizations for the Belt and Road Regions, launched in 2018 with the objective of enhancing cooperation in science, technology and innovation among countries participating in the Belt and Road Initiative.

    Its membership includes prestigious institutions such as the Chinese Academy of Sciences, the Scientific and Technological Research Council of Turkiye, and the Serbian Academy of Sciences and Arts.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Updated IT rules explained

    Source: Hong Kong Information Services

    The latest version of the Government’s IT Security Guidelines aims to strengthen the security barrier of its internal information network system and does not involve a “blanket ban” on the use of relevant communication tools, the Digital Policy Office has said.

    The office made a statement in response to media enquiries concerning the use of personal webmail, public cloud storage and the web versions of instant messaging services.

    In its updated guidelines, issued in April, the office reminded all bureaus and departments that use of such utilities and services on desktop computers connected to the government internal network by their staff will, in the face of increasingly severe cyber threats, bring potential information security risks, and that these must be well managed.

    Accordingly, the office formulated security guidelines for the use of desktop computers connected to the Government’s internal network systems, whereby staff have to obtain the approval of departmental management before using personal webmail, public cloud storage and instant messaging services on desktop computers connected to internal networks.

    Based on operational needs, bureaus and departments were given the chance – during a six-month adaptation period following the promulgation of the guidelines – to implement contingencies such as providing staff with mobile devices or designated computers that are isolated from internal systems, so that they might continue using personal webmail, public cloud storage and instant messaging services, or dedicated application systems developed by the bureaus or departments concerned.

    The statement by the office said the guidelines aimed to strengthen the security of the Government’s internal information network system, and stressed that they do not restrict or affect the use of services such as WhatsApp, WeChat and other commonly used instant messaging apps by staff on mobile phones and devices, or on desktop computers that are independent of the Government’s internal network system.

    Emphasising that there is no “blanket ban” on the use of relevant communication tools, the office said the requirements do not apply to computer systems or communication devices that are not connected to the Government’s internal network, such as on-campus systems in government schools.

    Since the guidelines were promulgated in April, the office has arranged a number of sessions to brief bureaus and departments on the various requirements and technical solutions, and has provided technical advice to facilitate compliance and the formulation of implementation plans within the six-month period.

    The office said it will continue to provide support to bureaus and departments, including through arranging more briefing sessions and sharing technology solutions, and will work with them to safeguard the Government’s information system and network security.

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Building Homes for NSW program delivers sites for another 1,600 homes

    Source: New South Wales Government 2

    Headline: Building Homes for NSW program delivers sites for another 1,600 homes

    Published: 24 October 2024

    Released by: The Premier, Minister for Homelessness, Minister for Housing, Minister for Lands and Property, Minister for Planning and Public Spaces

    The Minns Labor Government is continuing to deliver more homes through its Building Homes for NSW program, including through its statewide property audit, announcing a further 30 sites to build around 1,600 homes.

    Land audit sites

    The Government has identified 14 sites through the property audit to provide land to build around another 1,400 homes.

    Today’s announcement includes two sites at Box Hill and Riverstone to be transferred to Homes NSW for potential development of almost 50 social and affordable homes and over 35 market homes.

    A further nine sites across Sydney and three sites in regional NSW have been identified for future housing development by either Landcom or in partnership with the private sector, to allow the estimated delivery of more than 1300 market and affordable homes.

    The Sydney sites include unused government land at three sites at Rouse Hill, and sites at Edmondson Park, Stanmore, Earlwood, North Sydney, Chippendale and Fairfield. The three regional sites are located at Broadmeadow, Morisset and Orange.

    The final approach to delivering housing on these sites, including details on the quantity and types of housing, will be confirmed following further due diligence and subsequent planning and regulatory approvals.

    The announcement of these sites follows the NSW Government’s previous confirmation of 14 other sites across Sydney and regional NSW that will be transferred to housing delivery agencies.

    Homes NSW sites

    In addition to the sites identified through the property audit, the Government will also shortly commence construction of 194 new social homes on 16 further sites across the state owned by Homes NSW.

    These sites are in regions including Sydney, the Central Coast, Newcastle, the Northern Rivers, and the Riverina, with construction on the first sites due to start before the end of the year.

    The Building Homes for NSW program will deliver up to 30,000 homes on government sites, including 8,400 new public homes, giving priority to women and children fleeing violence. For more information, visit https://www.nsw.gov.au/departments-and-agencies/homes-nsw/building-homes-for-nsw

    The property audit is part of the Building Homes for NSW program. For more information about the property audit, visit https://www.dpie.nsw.gov.au/housing-and-property/our-business/advisory-and-transactions/nsw-government-property-audit-for-housing.

    Premier for New South Wales Chris Minns said:

    “We know housing affordability and availability is the single biggest pressure facing the people of NSW and our property audit continues to focus on ensuring unused or surplus government land becomes available to deliver more housing.

    “Today’s announcement of further sites across Sydney and regional NSW is part of our commitment to provide for housing for renters, first home buyers and the most vulnerable members of our community.”

    Minister for Planning and Public Spaces Paul Scully said:

    “The Minns Labor Government continues to deliver on its commitment to identify land it owns that could be better used for housing. 

    “The property audit is another part of our plan to deliver more homes and is bolstered by the reforms to the NSW planning system and investment in Landcom that allows it to deliver more homes.”

    Minister for Lands and Property Steve Kamper said:

    “The property audit has been methodically assessing government land and is now in full swing delivering surplus land for more homes, with 28 sites so far announced and capable of providing more than 3,000 residential dwellings.

    “The ongoing property audit continue to deliver much needed sites to help address the housing crisis currently being faced in NSW.”

    Minister for Housing and Minister for Homelessness Rose Jackson said:

    “Delivering more social and affordable homes is critical to rebuilding our housing system,

    the two Sydney sites identified for social housing are well-located close to public transport and services so they can deliver accessible, modern housing with over 250 new homes for those most in need.

    MIL OSI News –

  • MIL-OSI New Zealand: Ombudsman – Banking disputes scheme gets high mark in independent review

    Source: Banking Ombudsman

    25 October 2024 – The Banking Ombudsman Scheme has scored highly in an independent evaluation of its operations, a report by the reviewer released today shows.

    Consultant Deborah Hart, who conducted the five-yearly review, found the dispute resolution scheme met its terms of reference, strategic objectives and legislative requirements, the last of which concern its accessibility, independence, fairness, accountability, efficiency and effectiveness.

    “Overall, this is very positive report card,“ said Banking Ombudsman Nicola Sladden. “It confirms that we are make a valued and credible contribution to a fair banking sector.”

    The review rated the scheme highly for its dispute resolution work and ability to pinpoint the causes of complaints and share insights with banks and others to improve the overall banking experience.

    It also acknowledged the scheme’s rigorous and credible approach to reaching decisions, noting that the scheme had satisfactorily implemented the recommendations of the last review, which Ms Hart also conducted.

    Ms Sladden said the review made 11 recommendations, all of which the scheme agreed with and was either already implementing or considering how to implement.

    She said the scheme was committed to continuously improving how it worked, and the report would help in that effort.

    “We know there are areas where we can improve as we grow in size and face increasingly complex cases, especially those relating to fraud and scams, which continue to make up a large share of our workload.

    “We will continue to work with government agencies, regulators, banks and consumer groups to ensure fair outcomes in a cost-effective and transparent way.”

    A copy of the review is available here: 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health – New Zealand’s Blood Cancer Medicine Gap

    Source: Leukaemia and Blood Cancer New Zealand

    The Cancer Control Agency’s medicine availability report, released today, has shone a spotlight on the gap in access to critical medicines to treat New Zealanders with blood cancer. The report reveals 12 medicines funded in Australia but not New Zealand that would provide substantial clinical benefit to blood cancer patients here. Six medicines that significantly improve survival and quality of life for patients are either on Pharmac’s funding waiting list or are in the assessment process.
    Impact on Blood Cancer Patients
    Blood cancer patients are unique in that there are no prevention or screening options available to them. Their survival is primarily dependent on access to effective medicines and treatments, such as those detailed in this report. Blood cancer is the third leading cause of cancer-related death in New Zealand, with more than 21,000 New Zealanders living with a blood cancer.
    Ministerial Commitments
    In 2023, Health Minister Shane Reti (in his previous capacity as health spokesperson) reassured blood cancer patients they would not be forgotten when it came to accessing modern medicines. At the time, when questioned on blood cancer patients, he said, ” We understand, we haven’t forgotten you… we just need that piece of work to be done by the Cancer Control Agency.” That ‘piece of work’ has today been released and the onus remains on the Government to act on its findings and ensure that blood cancer patients are not left behind.
    Call to Action
    Tim Edmonds, CEO of Leukaemia & Blood Cancer New Zealand, said: “We call on the Government to deliver on their promises to blood cancer patients, and to act swiftly to fund the six medicines that have been identified by the Cancer Control Agency and sit with Pharmac awaiting funding. If we fail to act, the Government is sending a devastating message that closing gaps in priority cancer medicines access is happening with blood cancer patients excluded.”
    Background
    This gap echoes the findings of a similar 2022 report, which focused on solid tumour cancer and identified medicines that would offer significant clinical benefit to New Zealander if funded. That report triggered the pre-election promise by the National Party to fund 13 cancer medicines. Pharmac subsequently received a $604 million budget uplift to provide certainty of access for solid tumour cancer patients.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Greenpeace – Seabed mining sinks offshore wind industry

    Source: Greenpeace

    Greenpeace says the decision by an offshore wind developer to cancel its plans for wind farms in New Zealand due to conflict with a seabed mining project included in the Fast Track demonstrates just how regressive the new legislation is.
    Spanish offshore wind developer BlueFloat Energy has announced it will no longer pursue its plans for wind farms off the coast of Taranaki and Waikato, citing uncertainties around seabed allocation.
    The South Taranaki Bight is the area where the Australian-owned wannabe seabed miner Trans-Tasman Resources intends to gouge out tens of millions of tonnes of sand every year for 35 years, and the wind energy industry has previously said that would be incompatible with offshore wind farms.
    Greenpeace seabed campaigner Juressa Lee (Te Rarawa, Ngāpuhi, Rarotonga) says: “The offshore wind industry warned the government that seabed mining was fundamentally incompatible with offshore wind farms, but they went ahead anyway, and now we all pay the price.
    “Including Trans-Tasman Resources on the list of projects for Fast Track Approvals highlights the Luxon government’s unhealthy fixation on extractive industries and fossil fuels.
    “At the same time as the Luxon Government is closing the door on a renewable energy industry, they’re talking about opening up new oil and gas exploration and building a fossil gas importation terminal. It’s straight-out climate denial,” says Lee.
    Trans-Tasman Resources has been seeking to mine 50 million tons of sand every year in the South Taranaki Bight for 35 years. For over a decade, it has faced stiff opposition from marine experts, local iwi, community, and environmental groups.
    Since initially getting consent in 2017, TTR has had that consent quashed by three courts, with the Supreme Court finally sending it back to the EPA, requiring the company to prove it will cause no material harm.
    TTR pulled out of that EPA hearing in March this year, soon after the fast-track bill was announced and then confirmed that they had been invited by the coalition government to apply to have their seabed mining project fast-tracked.
    Seabed mining would be a significant threat to marine life, including blue whales, Māui and Hector’s dolphins, little blue penguins, and critical fishing grounds.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Wine Sector – Appellation Marlborough Wine: Annual Collection 2024

    Source: Appellation Marlborough Wine

    The 2024 Appellation Marlborough Wine (AMW) Annual Collection has been unveiled, celebrating the pinnacle of Marlborough Sauvignon Blanc. Now in its third year, the Collection provides wine enthusiasts an opportunity to explore a diverse array of styles, each shaped by the unique sub-regions and the winemaking expertise of Marlborough.
    “AMW’s Annual Collection continues to recognise and celebrate world-class Marlborough Sauvignon Blanc,” says Michael Wentworth, CEO of AMW. “The 2024 Collection highlights our member’s dedication to quality, expression of our region’s unparalleled terroir, and to winemaking craft.”
    This year’s collection was judged by an esteemed panel, including Stephen Wong MW, Elaine Chukan Brown (Wine Enthusiast), and Paul Stringer (Moore Wilson), bringing global expertise across education, media, on-trade, and retail sectors. “We are thrilled to have worked with such a distinguished group of judges,” says Mike.
    The panel evaluated over 75 current vintage Sauvignon Blancs, selecting a top 12 that reflects the region’s unique vineyard sites and winemaking styles.
    Chair of the judging panel, Stephen Wong MW, remarked: “2024 was a solar vintage with very expressive but also beautifully balanced fruit. The wines have breezy ease and effortless drinkability, even this early on. When making the selection, the judges found it hard to ignore the charming 2024 expression even if the standard of many 2023 wines in the ‘alternative’ category were impressive. From what we tasted, producers should be proud of how complex and sensitively handled many wines were.”
    THE APPELLATION MARLBOROUGH WINE ANNUAL COLLECTION 2024:
    – Ahi Kā Blackmore Sauvignon Blanc 2024 (Dillons Point, Lower Wairau Valley)
    – Astrolabe Marlborough Sauvignon Blanc 2024 (Marlborough)
    – Auntsfield Natures Path Sauvignon Blanc 2024 (Ben Morven, Southern Valleys)
    – Dog Point Vineyard Sauvignon Blanc 2024 (Southern Valleys, Wairau Valley)
    – Georges Michel Sauvignon Blanc 2024 (Lower Wairau Valley)
    – Huia Sauvignon Blanc 2024 (Wairau Valley)
    – Isabel Single Vineyard Sauvignon Blanc 2024 (Wairau Valley)
    – Nautilus Sauvignon Blanc 2024 (Marlborough)
    – Pretty Paddock Sauvignon Blanc 2024 (Lower Wairau Valley)
    – ROHE Blind River Sauvignon Blanc 2024 by Rapaura Springs (Blind River)
    – Starborough Sauvignon Blanc 2024 (Awatere Valley)
    – Whitehaven ‘Block 11’ Barrel Fermented Sauvignon Blanc 2023 (Rapaura, Central Wairau Valley)
    Wines from the 2024 AMW Annual Collection are all current releases. Wine enthusiasts are encouraged to contact their preferred retailers or the wineries directly for availability.
    ABOUT APPELLATION MARLBOROUGH WINE (AMW):
    Appellation Marlborough Wine (AMW) was founded in 2018 to protect the integrity and reputation of Marlborough wines by ensuring they meet the highest standards of quality, provenance, and sustainability. Only wines that meet AMW’s stringent certification process carry the AMW mark, guaranteeing 100% Marlborough origin, certified sustainable vineyards, and exclusive bottling in New Zealand.
    AMW certification assures consumers of the following:
    – Origin: Wines are made exclusively from grapes grown in Marlborough’s defined viticultural areas.
    – Authenticity: Wines are bottled only in New Zealand, preserving their pure Marlborough expression.
    – Integrity: Wines meet rigorous quality standards and pass independent blind tastings to ensure they reflect Marlborough’s unique terroir and winemaking excellence.
    – Sustainability: All vineyards are certified by recognized sustainable viticulture programs, supporting the long-term health of Marlborough’s environment and communities.
    With over 55 members, including some of Marlborough’s most iconic producers, AMW represents a commitment to protecting and enhancing the region’s global reputation for producing world-class wines. Look for the AMW mark as a guarantee of authenticity and excellence.
    For more information, visit www.appellationmarlboroughwine.co.nz

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: FS continues to promote Hong Kong’s new advantages in New York (with photos/video)

    Source: Hong Kong Government special administrative region

         The Financial Secretary, Mr Paul Chan, continued his visit in New York, the United States (US), yesterday (October 23, New York time) to promote Hong Kong’s advantages and opportunities.
          
         Mr Chan attended a luncheon co-hosted by the Hong Kong Economic and Trade Office in New York and the Hong Kong Association of New York, with around 80 representatives from businesses, institutions, chambers of commerce and think tanks present. During the luncheon, Mr Chan delivered a keynote speech and engaged in a discussion with the President of the National Committee on United States-China Relations, Mr Steve Orlins, addressing topics of interest regarding Hong Kong in US political and business circles.
          
         In his remarks, Mr Chan introduced Hong Kong’s latest economic situation and development strategies, particularly new initiatives in key areas such as finance and innovation and technology, policies and achievements related to attracting businesses and talent, and the increasingly close co-operation and collaborative developments with sister cities in the Guangdong-Hong Kong-Macao Greater Bay Area.
          
         Mr Chan stated that the “one country, two systems” arrangement will remain implemented in Hong Kong for the long term. He emphasised that Hong Kong will continue to play its unique role as a “super connector” and “super value-adder,” linking the capital markets and investors of the Mainland and the global community to create value and opportunities for all. He noted that Hong Kong consistently maintains the common law system, upholds the rule of law, provides an open, free, and simple low-tax business environment and protects investors’ rights. Following the implementation of national security legislation, foreign businesses continue to have confidence in Hong Kong, and various international institutions have affirmed Hong Kong’s excellent business environment and competitiveness. Mr Chan highlighted that Hong Kong values the strengthening of relationships with traditional markets and welcomes continued investments from the US business community. The Hong Kong Special Administrative Region Government will continue to present the real situation of Hong Kong through objective facts and data, and maintain communications and connections with the US’s political and business sectors.
          
         In the morning, Mr Chan had breakfast with local political and business figures, followed by a roundtable meeting where he met with local financial and banking professionals to introduce Hong Kong’s latest status and opportunities, and address their questions.
          
         In the afternoon, Mr Chan met with the Acting Consul General of China in New York, Mr Ma Xiaoxiao, to exchange views on China-US economic and trade relations, and co-operation.
          
         Mr Chan will continue his final day of visit in New York today (October 24, New York time).               

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by SITI at Asia Health Innovation Summit of StartmeupHK Festival 2024 (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Asia Health Innovation Summit of StartmeupHK Festival 2024 today (October 24):
     
    Distinguished guests, ladies and gentlemen,
     
         Good morning. It is my pleasure to speak at the Asia Health Innovation Summit, one of the highlights in the five-day StartmeupHK Festival. First of all, thank you for InvestHK and Brinc for bringing us an unparalleled platform to address the pressing health challenges and to push the boundaries of what is possible in life and health technology.
     
         Hong Kong is pressing ahead to become an international innovation and technology (I&T) centre, as well as a health and medical innovation hub. With the rapid advancement of technology, we have been entering unchartered grounds in the life and health field. With five world top-100 universities, two world top-40 medical schools, eight State Key Laboratories and 16 InnoHK research centres which are life and health-related, Hong Kong has world-class research and development (R&D) capability in life and health technology. Hong Kong is one of the world’s leading fundraising hubs for biotechnology companies, and our vibrant start-up scene was ranked first in Asia among the world’s top-100 emerging ecosystems according to the Global Startup Ecosystem Report 2024.
     
         To enhance the local I&T ecosystem, the Hong Kong Special Administrative Region Government has been actively promoting interactive development of the upstream, midstream and downstream sectors. To further promote upstream basic R&D, we will launch a $6 billion worth of subsidy programme to provide funding subsidies for local universities to set up cross-institutional and multidisciplinary life and health technology research institute(s) in Hong Kong. We have also earmarked $3 billion for the implementation of the Frontier Technology Research Support Scheme to accelerate cross-disciplinary researches in various frontier technology fields such as clinical medicine and health as well as gene and biotechnology spearheaded by the eight local UGC (University Grants Committee)-funded universities and renowned scholars from around the world.
     
         Furthermore, we have launched the $10 billion worth of Research, Academic and Industry Sectors One-plus Scheme (RAISe+) last year, to fund research teams from universities with good potential to become successful start-ups to transform and commercialise their outstanding R&D outcomes. Investors here with us today and around the world are welcome to collaborate with the universities in Hong Kong and invest in their RAISe+ projects.
     
         To promote downstream industry development, further to the $10 billion worth of New Industrialisation Acceleration Scheme launched last month, the Chief Executive has announced in his 2024 Policy Address last week to set up another $10-billion I&T Industry-Oriented Fund to form a fund-of-funds to channel more market capital to invest in specified emerging and future industries of strategic importance, including life and health technology. We will also redeploy $1.5 billion under the Innovation and Technology Venture Fund to set up funds jointly with the market, on a matching basis, investing in start-ups of strategic industries to further enhance Hong Kong’s start-up ecosystem. By pooling together government resources and market investment, we hope to provide greater momentum to our burgeoning life and health technology industry.
     
         By giving Hong Kong’s unique advantages full play, we are confident in pooling together global innovation resources to accelerate the development of life and health technology, constructing a more comprehensive and globally competitive I&T industry chain through concerted efforts. We envision a future where the technology seamlessly integrates with healthcare to improve quality of life for all. I look forward to many more collaborations with our neighbouring Asian cities on this front.
     
         Thank you and have a great day.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Voting Set to Open for Next ADB President

    Source: Asia Development Bank

    News Release | 24 October 2024
    Read time: 1 min

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    MANILA, PHILIPPINES (24 October 2024) — The Asian Development Bank (ADB) has officially closed the nomination period for its next President, with voting by ADB’s Board of Governors set to begin on 28 October 2024.

    ADB Presidents are nominated from among its regional members and elected by the Board of Governors. Nominations for this election were accepted from 24 September to 23 October 2024.

    Mr. Masato Kanda, currently Special Advisor to Japan’s Prime Minister and Minister of Finance, is the sole candidate for the position. Read his vision statement.

    Governors will be invited to cast their votes on Mr. Kanda’s candidacy by 27 November 2024. The outcome will be announced on 28 November 2024.

    Read more about the election process.

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

    Media Contact

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    MIL OSI Economics –

  • MIL-OSI New Zealand: Release: Government driving away offshore wind industry

    Source: New Zealand Labour Party

    The Government has created a hostile environment for companies seeking to build offshore wind farms.

    News that offshore wind developer BlueFloat Energy is packing up operations and leaving Taranaki comes weeks after it was announced that a previously declined seabed mining project was on the Government’s fast track development list in the same area.

    The seabed mining project, developed by Trans Tasman Resources, was previously declined as being too destructive to the environment.

    “The Government has once again chosen to go backwards, by backing a destructive project that communities have fought against, over a renewable energy project that would have created jobs, provided 900 MW of electricity and helped New Zealand transition to a clean energy economy,” Labour energy and climate spokesperson Megan Woods said.

    “The Government has also twiddled its thumbs on developing a consenting regime for wind projects.

    “BlueFloat leaving New Zealand is a huge loss for Taranaki and our country and tells other offshore wind developers not to bother coming here.

    “The offshore wind industry was projected to create 12,000 jobs and contribute $50 billion in GDP.

    “It’s not a surprise to me that BlueFloat has made this decision, as we’ve got a government that has dragged its heels and put in the slow lane any work on what is needed to stimulate offshore wind in New Zealand.

    “More than that, its decision to include the Trans Tasman Resources project in its fast-track bill is a clear message to the offshore wind investment community that they are not seen as a priority in this country,” Megan Woods said.

    Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

    MIL OSI New Zealand News –

  • MIL-OSI: Equinor third quarter 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Equinor (OSE: EQNR, NYSE: EQNR) delivered adjusted operating income* of USD 6.89 billion and USD 2.04 billion after tax in the third quarter of 2024. Equinor reported net operating income of USD 6.91 billion and net income at USD 2.29 billion. Adjusted net income* was USD 2.19 billion, leading to adjusted earnings per share* of USD 0.79.

    Financial and operational performance

    • Solid financial results
    • Effective execution of extensive turnaround programme
    • Strong cash flow from operations

    Strategic progress

    • All-time high production from the Troll field in the gas year
    • Northern Lights facility completed and ready to receive CO2
    • Acquired a 9.8 percent stake in Ørsted in October

    Capital distribution

    • Third quarter ordinary cash dividend of USD 0.35 per share, extraordinary cash dividend of USD 0.35 per share and fourth tranche of share buy-back of up to USD 1.6 billion
    • Total capital distribution for 2024 in line with announced level of around USD 14 billion

    Anders Opedal, President and CEO of Equinor ASA:

    “With solid operational performance and results, we are well on track to deliver strong cashflow from operations in line with what we said at the capital markets update in February.”

    “Over time, we have upgraded the capacity in the gas value chain. This has contributed to an all-time high production from the Troll field in the gas year. In the quarter, the Johan Sverdrup field delivered a production record of more than 756 000 barrels of oil in one day and reached the milestone of one billion barrels produced since the start-up five years ago. This strengthens our position to deliver safe and reliable energy to Europe.”

    “We continue to invest in renewables and develop low carbon value chains. In the quarter, the world’s first commercial storage facility, Northern Lights, was completed and is now ready to receive CO2 from customers.”

    Operational performance

    Equinor delivered a total equity production of 1,984 mboe per day in the third quarter, down from 2,007 mboe in the same quarter last year.

    On the Norwegian continental shelf (NCS), production increased by 2 percent compared to the third quarter 2023. This was due to high gas production from the Troll field and positive contributions from Aasta Hansteen and Oseberg. The increase was partially offset by extensive turnarounds, natural decline and reduced ownership in the Statfjord area.

    Internationally, new wells contributed positively to the production. However, the international production was negatively impacted by offshore turnarounds and hurricanes in the United States.

    In the quarter, Equinor completed nine offshore exploration wells with one commercial discovery. Four wells were ongoing at the quarter end. Two wells were expensed.

    Equinor produced 677 GWh from renewable assets in the third quarter, up 82 percent from the same quarter last year. The increase was driven by the addition of onshore power plants in 2024. The offshore wind parks Dudgeon, Sheringham Shoal and Arkona also contributed positively to the production.

    The progress at Dogger Bank A is slower than expected. Based on this, the expected growth in power production from renewable assets in 2024 is adjusted to around 50 percent.

    Strategic progress

    Equinor continued to optimise the portfolio through projects and strategic business development in the quarter.

    On the NCS, the Johan Castberg production vessel was securely anchored at the field in the Barents Sea and hook-up is on track for production start before year-end. In the quarter, Troll B and C became partly powered from shore, contributing to the company’s efforts to strengthen competitiveness and halve operated emissions by 2030.

    The recent acquisition of a 9.8 percent stake in Ørsted, gives Equinor exposure to premium offshore wind assets in operation and a solid project pipeline. In the quarter, Equinor also won an offshore wind lease in the U.S. Atlantic Ocean at an attractive price, adding optionality of around 2 gigawatt capacity to its existing portfolio. Furthermore, the company started recalibrating its portfolio of early phase renewable projects to reduce cost and focus business development toward core markets.

    Equinor continues to progress its low carbon solutions portfolio. The Northern Lights facility was completed on estimated time and budget. In the UK, two key partner-operated low-carbon solution projects secured funding from the government.

    Solid financial results

    Equinor delivered adjusted operating income* of USD 6.89 billion. USD 5.88 billion come from Exploration and Production Norway, USD 407 million from E&P International and USD 207 million from E&P USA. Marketing, Midstream & Processing delivered adjusted operating income* of USD 545 million, driven by LNG, power trading and geographical arbitrage for LPG. Adjusted operating income* from Renewables was negative USD 115 million, as the costs of project development exceeded the earnings from assets in operation.

    Cash flow from operating activities before taxes paid and working capital items amounted to USD 9.23 billion for the third quarter. Cash flow from operations after taxes paid* was USD 6.25 billion for the quarter, and USD 14.0 billion year to date.

    Equinor paid one NCS tax instalment of USD 2.87 billion in the quarter and total capital expenditures were USD 3.14 billion. Organic capital expenditure* was USD 3.08 billion for the quarter and USD 8.73 billion year to date. The organic capital expenditure* guiding for the year is adjusted to USD 12-13 billion. After taxes, capital distribution to shareholders and investments, net cash flow* ended at negative USD 3.42 billion in the third quarter. The Norwegian state’s share of the share buy-back programme of USD 4.02 billion in July impacted the net cash flow*.

    Adjusted net debt to capital employed ratio* was negative 2.0 percent at the end of the third quarter, compared to negative 3.4 percent at the end of the second quarter of 2024.

    Capital distribution

    The board of directors has decided an ordinary cash dividend of USD 0.35 per share and an extraordinary cash dividend of USD 0.35 per share for the third quarter of 2024. This is in line with communication at the capital markets update in February.

    The board has decided to initiate a fourth and final tranche of share buy-back for 2024 of up to USD 1.6 billion. The fourth tranche will commence on 25 October and end no later than 31 January 2025. This fourth tranche will complete the announced share buy-back programme of up to USD 6 billion for 2024. It will also conclude total capital distribution for 2024 of around USD 14 billion.

    The third tranche of the share buy-back programme was completed on 16 October 2024 with a total value of USD 1.6 billion.

    All share buy-back amounts include shares to be redeemed by the Norwegian state.

    —
    * For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures.
    —

    Further information from:

    Investor relations
    Bård Glad Pedersen, senior vice president Investor relations,
    +47 918 01 791 (mobile)

    Press
    Sissel Rinde, vice president Media relations,
    +47 412 60 584 (mobile)

    This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

    Attachments

    The MIL Network –

  • MIL-Evening Report: ‘We will not allow others to determine our fate’: Pacific nations dial up pressure on Australia’s fossil fuel exports

    Source: The Conversation (Au and NZ) – By Liam Moore, Lecturer in International Politics and Policy, James Cook University

    Tuvalu’s Prime Minister Feleti Teo took to a stage in Apia, Samoa, on Thursday morning to say something pointed. Planned fossil fuel expansions in nations such as Australia represented, for his nation, a “death sentence”. The phrase “death sentence”, Teo said, had not been chosen lightly. He followed up with this: “We will not sit quietly and allow others to determine our fate.”

    Teo chose the moment for this broadside well – on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM), attended by both King Charles and Australian Prime Minister Anthony Albanese. The speech came at the launch of a new report on moves by the “big three” Commonwealth states – the United Kingdom, Canada and Australia – to expand fossil fuel exports.

    These three states make up just 6% of the population of the Commonwealth’s 56 nations, but account for over 60% of the carbon emissions generated through extraction since 1990, the Fossil Fuel Non-Proliferation Treaty Initiative report shows.

    Canada and the UK are no climate angels, given their respective exports of highly polluting oil from oil sands and North Sea oil and gas. But Teo and others in the movement to stop proliferation of fossil fuels have reserved special criticism for Australia. That’s because Australia is now second only to Russia based on emissions from its fossil fuel exports and has the largest pipeline of coal export projects in the world – 61% of the world’s total.

    The elephant in the room

    Tuvalu, like many other small Pacific nations, is laser-focused on the threat of climate change. Across the Pacific, rising sea levels and saltwater intrusion are already pushing people to consider migration or retreat.

    Australia has long been influential in the Pacific, even more so as Western states try to outcompete Chinese funds and influence in the region. But fossil fuel exports are a very large elephant in the room.

    As Tuvalu’s leader points out, Australia is:

    morally obliged to ensure that whatever action it does [take] will not compromise the commitment it has provided in terms of climate impact.

    Teo pointed out the “obvious” inconsistency between Australia’s commitment to net zero by 2050 and ramping up fossil fuel exports.

    This year, Australia and Tuvalu’s groundbreaking Falepili Union treaty came into force. The treaty includes some migration rights for Tuvaluans as well as a controversial security agreement. But Teo has now flagged using this as leverage to “put pressure on Australia to align its activities in terms of fossil fuels”.

    Tuvalu’s diplomatic pressure is a small part of broader efforts by island states facing escalating climate damage to be seen not as passive victims but to emphasise, as Teo said, they are also “at the forefront of climate action”.

    Echoing these sentiments was Vanuatu’s climate envoy, Ralph Regenvanu. He called on Commonwealth nations to “not sacrifice the future of vulnerable nations for short-term gains”, and “to stop the expansion of fossil fuels in order to protect what we love and hold dear here in the Pacific”.

    Vanuatu and Tuvalu have led the campaign for a fossil fuel non-proliferation treaty, committing signatories to ending expansion of fossil fuels. So far, 12 other nations have joined, including Fiji, Solomon Islands, Tonga, Republic of Marshall Islands, Colombia and the CHOGM host, Samoa.

    Australia all alone?

    It’s not surprising to see Australia facing these calls for action. The meeting is being held in Samoa, the first time a Pacific Island state has hosted Commonwealth leaders.

    Leaders of other large Commonwealth states have skipped the meeting. Notable by their absence were Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa and Canadian Prime Minister Justin Trudeau.

    Climate action is one of several background issues in Apia. One of the more significant is the call for reparations for slavery from former British colonies – calls UK Prime Minister Keir Starmer is keen to put to the side. But reports on the ground suggest the issues of reparations, monarchy and the future relevance of the Commonwealth are all in the shadow of the main concern – climate change.

    The meeting also serves as a precursor to November’s United Nations climate talks, the COP29 conference in Baku, Azerbaijan. Pacific nations are focused on building consensus on climate finance.

    Australia has its own concerns. The host of the 2026 COP31 conference will be announced in Baku, with a joint Australia-Pacific bid in competition with Türkiye. Observers suggest Australia is in the box seat, but it has faced consistent pressure from Pacific states to reconcile its actions with its climate rhetoric.

    There are domestic implications too. As the next federal election looms, the lure of a potential A$200 million windfall for the COP host city would be more than welcome.

    Securing an Australia-Pacific COP could also boost the government’s environmental credentials as it comes under sustained attack from the Greens over fossil fuels and the Coalition over energy security and nuclear power.

    In Apia, Pacific efforts to convince leaders of the need for greater climate action are reported to include a walk through a mangrove reserve for King Charles, guided by Samoan chief and parliamentarian Lenatai Vicor Tamapua. Tamapua told the ABC he showed leaders how king tides today were “about twice what it was 20, 30 years ago”, which he says is forcing people to “move inwards, inland now”.

    For Australia, difficult questions remain. How will it balance regional demands to phase out coal and gas exports with domestic pressures to maintain jobs, public funds and economic growth? Can it walk the tightrope and be the partner of choice in the Pacific while continuing to explore for, extract and export coal and gas?

    These questions will not be resolved in Apia. They might not even be resolved by the next federal government, or by the time COP31 arrives. But they will not go away.

    The way Australia and other exporters resolve these tensions will, as Teo says, decide whether Tuvalu stays liveable – or goes under.

    Liam Moore 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. ‘We will not allow others to determine our fate’: Pacific nations dial up pressure on Australia’s fossil fuel exports – https://theconversation.com/we-will-not-allow-others-to-determine-our-fate-pacific-nations-dial-up-pressure-on-australias-fossil-fuel-exports-242103

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Travel times and congestion to be slashed with opening date set for Wilman Wadandi Highway

    Source: Australian Ministers 1

    Bunbury locals and thousands of commuters heading to Western Australia’s South West will get an early Christmas present this year with the Australian and Western Australian Governments today announcing the Wilman Wadandi Highway, previously known as Bunbury Outer Ring Road, will officially open to traffic on Monday, December 16.

    The new road will slash commute times to and from the South West by around 20 minutes depending on traffic conditions, while also diverting an average of around 15,000 vehicles from local Bunbury roads every day.

    Commuters travelling to and from the South West currently have to use a number of local roads in the Bunbury area, which have become significantly constrained in recent years with growing traffic volumes and increased housing development.

    The new road will separate freight and tourist traffic from local traffic, improving road safety, reducing congestion, and providing more efficient travel for motorists.

    The four-lane highway stretches 27 kilometres, connecting Forrest Highway north of Bunbury to Bussell Highway south of Bunbury. It includes five new bridges and four grade-separated interchanges, while commuters heading to and from the South West will now avoid 13 sets of traffic lights.

    The Wilman Wadandi Highway is the biggest road project ever delivered in the South West, becoming a major driver for economic stimulus and job creation in the region.

    More than $530 million in funding flowed to about 370 local businesses, while the project created about 4,500 jobs.

    Around $50 million has also been allocated to Aboriginal suppliers, and almost 200 local Aboriginal people received on-the-job training through the project’s award-winning Yaka Dandjoo program.

    While the main alignment will be open, some minor works will still be underway across a range of areas including on some local roads, landscaping, artwork, and minor tie-in works.

    In the lead up to the opening, Main Roads will host a number of community drop-in sessions across the South West region, where members of the community will be able to go and learn more about the new alignment and the different access routes that will be available upon opening.

    A community event will also be hosted the day before opening, which will provide residents in the region an opportunity to learn more about the new road and how it will change the way locals commute.

    Residents in the metro area that travel to and from the South West are encouraged to head to the Wilman Wadandi Highway project page on the Main Roads website to acquaint themselves with the new route before it opens.

    The Wilman Wadandi Highway has been jointly funded by the Australian and Western Australian Governments, underscoring a commitment to the long-term regional growth of the area.

    The Australian Government has committed $1.1 billion, while the WA Government has contributed $356.7 million to the $1.46 billion project.

    To find out the latest information on the project and upcoming drop-in sessions, please visit the project page on the Main Roads website. 

    Quotes attributed to Federal Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “We’re thrilled that the Wilman Wadandi Highway will soon be open to traffic, marking a significant milestone for this massive $1.46 billion project.

    “Our government is proud to be partnering with the Western Australian Government to deliver a project that not only reduces congestion and travel times but also boosts efficiency and network reliability, benefitting every road user across the region.

    “Beyond the road efficiencies, the highway will enhance connectivity for the region, providing economic opportunity and long-term regional growth for generations to come.”

    Quotes attributed to WA Transport Minister Rita Saffioti:

    “This project has been a game changer in terms of its economic impact for the region, and it will continue to drive incredible outcomes from December when thousands of vehicles will be diverted from local Bunbury roads.

    “Locals and anyone that drives to and from the South West know how congested the roads around Bunbury can get, but that will be a thing of the past when this highway opens.

    “This project represents the biggest change we’ve ever seen for the commute to and from the South West – with drivers looking at time savings of around 20 minutes, while they’ll now avoid 13 sets of traffic lights.

    “It’s a massive win for Bunbury locals, who for many years have had to compete with freight and tourist traffic and will now see thousands of vehicles removed from the local road network.”

    Quotes attributed to Federal Member for Perth Patrick Gorman:

    “The Wilman Wadandi Highway is a welcome investment connecting Perth to the South West. Delivering traffic improvement for motorists and a boost for local businesses, giving both groups a far more efficient transport link around Bunbury.

    “Our government is working closely with the WA Government to deliver meaningful projects like the Wilman Wadandi Highway. Ensuring local values, planning and investment come together to provide the best results for communities well into the future.”

    Quotes attributed to Senator for Western Australia Louise Pratt:

    “The Australian Government is pleased to partner with the Western Australian Government to deliver a highway that takes the pressure off Bunbury’s roads and provides a safer and more efficient transport link.

    “Apart from bringing the obvious improvements to traffic congestion, the Wilman Wadandi Highway will also smooth the way for economic stimulus and job creation in Western Australia’s South West region.”

    Quotes attributed to State Member for Bunbury Don Punch:

    “The Wilman Wadandi Highway is a critical piece of infrastructure that is and will continue to deliver enormous benefits to the local community, including more reliable, efficient and safer travel in the South West.

    “As our region continues to grow, the Wilman Wadandi Highway is essential to support future development, local jobs and business growth.”

    Quotes attributed to State Member for Collie-Preston Jodie Hanns:

    “The Wilman Wadandi Highway will make a real difference to the community in the South West, reducing travel times and improving road safety for everyone who lives and works here.

    “It has been great to see such an emphasis on local employment and Aboriginal engagement through the award-winning Yaka Dandjoo program, ensuring that the benefits of this project are widely felt across the community.”

    Quotes attributed to State Member for Murray-Wellington Robyn Clarke:

    “The Wilman Wadandi Highway will deliver a safer, more efficient transport route for the entire South West region, reducing the burden on our local roads, helping improve our road networks.

    “As someone who lives and travels in the South West, I know how much of a difference the Wilman Wadandi Highway will make in the region, and with road safety being such a critical priority, creating safer travel in the South West is a great outcome for locals.”

    MIL OSI News –

  • MIL-OSI: Dassault Systèmes: Third quarter results in-line – Anticipating top line acceleration in 4Q – Confirming full year EPS objective

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    VELIZY-VILLACOUBLAY, France — October 24, 2024

    Dassault Systèmes: Third quarter results in-line

    Anticipating top line acceleration in 4Q

    Confirming full year EPS objective

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the third quarter 2024 and nine months ended September 30, 2024. The Group’s Board of Directors approved these estimated results on October 23, 2024. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

    Summary Highlights1  

    (unaudited, non-IFRS unless otherwise noted,
    all growth rates in constant currencies)

    • 3Q24: total revenue rose 4% to €1.46 billion driven by subscription revenue up 8%;
    • 3Q24: sequential improvement of MEDIDATA revenue;
    • 3Q24: operating margin of 29.6% and EPS at €0.29, in line with guidance;
    • YTD24: IFRS cash flow from operations up 6% as reported;
    • FY24: confirming diluted EPS objectives of €1.27 – €1.30, while updating total revenue growth from 6 – 8% to 5 – 7% to reflect the continued scrutiny and contraction of the automotive market. Anticipating total revenue growth acceleration at 8% mid-point in 4Q24.

    Dassault Systèmes’ Chief Executive Officer Commentary

    Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

    “As we enter the second half of the year, we have seen several end-markets gaining momentum. In Life Sciences, MEDIDATA is back to sequential growth improvement. At the same time, we had excellent performance in Consumer industries driven by CENTRIC PLM. SOLIDWORKS accelerated growth in revenue and seats. Importantly, Aerospace & Defense was resilient and delivered a solid performance this quarter.

    However, since late summer, automotive customers in Europe and the US have been impacted by a contraction in volumes. This accelerates the need for transformative decisions, while elongating decision-making in the short term. Momentum in Asia, and China in particular, remains strong.

    We are well-positioned to continue gaining market share in the industrial sector. We are confident that our data-centric platform will serve as a catalyst for transformation. In the age of AI, virtualizing industrial processes from design to manufacturing will be a prerequisite for OEMs and suppliers to compete successfully in this next decade.”  

      

    Dassault Systèmes’ Chief Financial Officer Commentary

    (revenue, operating margin and diluted EPS growth rates in constant currencies,
    data on a non-IFRS basis)

    Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

    “In the third quarter, our total revenue grew by 4%, while the operating margin remained resilient at 29.6% and EPS stood at €0.29, highlighting the operating efficiency of the company.

    For the full year, we are reconfirming our EPS target range of €1.27 – €1.30 while remaining disciplined to offset the effects of ongoing deal delays and contraction in automotive volumes. Accordingly, we are adjusting our total revenue growth expectations from 6 – 8% to 5 – 7%.

    This updated guidance reflects expected growth acceleration in the fourth quarter, driven by continued improvements at MEDIDATA and a robust 3DEXPERIENCE pipeline.”

    Financial Summary

    In millions of Euros,
    except per share data and percentages    		   IFRS   IFRS
      Q3 2024 Q3 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,463.9 1,424.7 3% 4%   4,459.3 4,308.0 4% 4%
    Software Revenue   1,312.4 1,286.7 2% 3%   4,011.8 3,883.9 3% 4%
    Operating Margin   18.9% 21.2% (2.4)pts     19.6% 20.0% (0.3)pt  
    Diluted EPS   0.18 0.18 0%     0.61 0.54 12%  
    In millions of Euros,
    except per share data and percentages    		   Non-IFRS   Non-IFRS
      Q3 2024 Q3 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,463.9 1,424.7 3% 4%   4,459.3 4,308.0 4% 4%
    Software Revenue   1,312.4 1,286.7 2% 3%   4,011.8 3,883.9 3% 4%
    Operating Margin   29.6% 31.0% (1.5)pt     30.2% 31.0% (0.8)pt  
    Diluted EPS   0.29 0.28 3% 4%   0.89 0.84 6% 8%

    Third Quarter 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue in the third quarter grew by 4% to €1.46 billion, and software revenue increased by 3% to €1.31 billion, both at the low end of the Company’s objectives. Subscription & support revenue rose 5%; recurring revenue represented 83% of software revenue, up 2 percentage points compared to last year. Licenses and other software revenue declined by 7% to €229 million. Services revenue increased by 10% to €151 million, during the quarter.
    • Software Revenue by Geography: Revenue in the Americas increased by 6% to represent 41% of software revenue, led by Home & Lifestyle from an Industry standpoint. Europe (36% of software revenue) declined by 4%, largely impacted by a strong comparison basis after a large transformation deal signed in the third quarter of 2023. In Asia, revenue increased by 9% with continued momentum across countries led by improvement in China, up double digits. Asia represented 23% of software revenue at the end of the third quarter.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue declined by 1% to €685 million, against a high comparison basis. The strong baseline effect combined with a weaker automotive market in Europe and the US weighed on the performance. Industrial Innovation software represented 52% of software revenue, during the period.
      • Life Sciences software revenue was flat, at €280 million, accounting for 21% of software revenue. Sequential growth improvement confirms MEDIDATA progressive recovery.
      • Mainstream Innovation software revenue increased by 15% to €348 million and represented 26% of software revenue. SOLIDWORKS had a good start in the second half of 2024, up mid-single digits in the quarter. CENTRIC PLM delivered another excellent quarter, due to competitive displacements and strong renewals.
    • Software Revenue by Industry: Home & Lifestyle, High-Tech, Aerospace & Defense and Marine & Offshore were among the best performers during the quarter.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue was impacted by a tough comparison base due to the anniversary of a mega deal. Hence, we saw a temporary decline of 10%. However, the performance on a year-to-date basis was in line with objectives and, looking at the subscription growth, the trend was very strong at 41%. 3DEXPERIENCE software revenue represented 37% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue during the period. Excluding MEDIDATA, Cloud software revenue increased by a strong 38%.
    • Operating Income and Margin: IFRS operating income declined by 9% at €276 million, as reported. Non-IFRS operating income declined by 1% in constant currencies at €433 million (2% as reported). The IFRS operating margin stood at 18.9% compared to 21.2% in the third quarter of 2023. The non-IFRS operating margin totaled 29.6% versus 31.0% during the same period last year.
    • Earnings per Share: IFRS diluted EPS was €0.18, flat as reported. Non-IFRS diluted EPS grew to €0.29, up 3% as reported, or 4% in constant currencies.

    Nine months ended 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue grew by 4% to €4.46 billion. Software revenue increased by 4% to €4.01 billion. Subscription and support revenue rose 5% to €3.29 billion; recurring revenue represented 82% of total software revenue. Licenses and other software revenue declined by 1% to €720 million. Services revenue rose 6% to €448 million.
    • Software Revenue by Geography: The Americas grew 3% and represented 40% of software revenue. Europe rose by 2% and represented 37% of software revenue. Asia increased by 9%, representing 23% of software revenue.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue rose by 4% to €2.12 billion and represented 53% of software revenue. ENOVIA, SIMULIA and DELMIA exhibited the strongest performance.
      • Life Sciences software revenue decreased by 2% to €847 million, representing 21% of software revenue.
      • Mainstream Innovation software revenue increased by 11% to €1.05 billion. Mainstream Innovation represented 26% of software revenue. SOLIDWORKS delivered mid-single digit growth while CENTRIC PLM continued to perform well with strong, double-digit growth.
    • Software Revenue by Industry: Home & Lifestyle, Aerospace and Defense, High-Tech and Consumer Packaged Good & Retail displayed some of the strongest performance.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 10%, representing 37% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue. Excluding MEDIDATA, Cloud software revenue increased by more than 50% versus the same period last year.
    • Operating Income and Margin: IFRS operating income increased by 2%, to €876 million, as reported. Non-IFRS operating income increased by 1% as reported (2% in constant currencies) to €1.35 billion. IFRS operating margin totaled 19.6% compared to 20.0% for the same period in 2023. The non-IFRS operating margin was preserved, standing at 30.2% in the first nine months of 2024 compared to 31.0% in the same period last year, thanks to cost containment measures.
    • Earnings per Share: IFRS diluted EPS was €0.61 increasing 12% as reported. Non-IFRS diluted EPS grew by 6% to €0.89, as reported, up 8% in constant currencies.
    • Cash Flow from Operations (IFRS): Cash flow from operations totaled €1.35 billion, up 6% year over year, thanks to the increase in net income adjusted for non-cash items and positive cash tax effects in 2024.
    • Balance Sheet (IFRS): Dassault Systèmes’ net financial position totaled €1.07 billion as of September 30, 2024, an increase of €0.49 billion, compared to €0.58 billion for the year ending December 31, 2023. Cash and cash equivalents totaled €3.66 billion as of September 30, 2024. The movements of the quarter on cash and cash equivalents include the reimbursement for €700 million of the second Tranche of the Bond issued by the company in 2019.

    Financial Objectives for 2024

    Dassault Systèmes’ fourth quarter and 2024 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2024 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:

               
          Q4 2024 FY 2024  
      Total Revenue (billion) €1.696 – €1.816 €6.155 – €6.275  
      Growth 3 – 10% 3 – 5%  
      Growth ex FX 5 – 12% 5 – 7%  
               
      Software revenue growth * 5 – 13% 5 – 7%  
        Of which licenses and other software revenue growth * 0 – 20% (1) – 6%  
        Of which recurring revenue growth * 7 – 11% 6 – 7%  
     

    Services revenue growth *

    0 – 5%

    		 4 – 6%  
               
      Operating Margin 35.9% – 36.9% 31.8% – 32.2%  
               
      EPS Diluted €0.38 – €0.41 €1.27 – €1.30  
      Growth 4 – 12% 5 – 8%  
      Growth ex FX 5 – 13% 7 – 10%  
               
      US dollar $1.10 per Euro $1.09 per Euro  
      Japanese yen (before hedging) JPY 155.0 per Euro JPY 162.0 per Euro  
      * Growth in Constant Currencies      

    These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

    The 2024 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2024 principal currency exchange rates above: no significant contract liabilities write-downs; share-based compensation expenses, including related social charges, estimated at approximately €232 million (these estimates do not include any new stock option or share grants issued after September 30, 2024); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €360 million, largely impacted by the acquisition of MEDIDATA; and lease incentives of acquired companies at approximately €2 million.

    The above objectives also do not include any impact from other operating income and expenses, a net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after September 30, 2024.

    Corporate Announcements

    Today’s Webcast and Conference Call Information

    Today, Thursday, October 24, 2024, Dassault Systèmes will host, from London, a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

    Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

    Investor Relations Events

    • Fourth Quarter 2024 Earnings Release: February 4, 2025
    • First Quarter 2025 Earnings Release: April 24, 2025
    • Second Quarter 2025 Earnings Release: July 24, 2025

    Forward-looking Information

    Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

    The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2023 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2024, available on the Group’s website www.3ds.com.

    In particular, please refer to the risk factor “Uncertain Global Economic Environment” in section 1.9.1.1 of the 2023 Universal Registration Document set out below for ease of reference:

    “In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

    • the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or terminate their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
    • the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and impact Dassault Systèmes’ business, for example, due to stricter export compliance rules or the introduction of new customs tariffs;
    • continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
    • uncertainties regarding the extent and duration of inflation could adversely affect the financial position of Dassault Systèmes; and
    • the sales cycle of Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

    The occurrence of crises – health and political in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively impact Dassault Systèmes’ revenue, financial performance and market position.

    Dassault Systèmes makes every effort to take into consideration this uncertain macroeconomic outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

    In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the fourth quarter 2024. The Group has assumed an average US dollar to euro exchange rate of US$1.09 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY162.0 to €1.00, before hedging for the full year 2024. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.   

    Non-IFRS Financial Information

    Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2023 Universal Registration Document filed with the AMF on March 18, 2024.

    In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. We provide business and people with collaborative virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers can redefine the creation, production and life-cycle-management processes of their offer and thus have a meaningful impact to make the world more sustainable. The beauty of the Experience Economy is that it is a human-centered economy for the benefit of all – consumers, patients and citizens. Dassault Systèmes brings value to more than 350,000 customers of all sizes, in all industries, in more than 150 countries. For more information, visit www.3ds.com

    Dassault Systèmes Investor Relations Team                        FTI Consulting

    Beatrix Martinez: +33 1 61 62 40 73                                Arnaud de Cheffontaines: +33 1 47 03 69 48

                                                                    Jamie Ricketts : +44 20 3727 1600

    investors@3ds.com

    Dassault Systèmes Press Contacts

    Corporate / France        Arnaud MALHERBE        

    arnaud.malherbe@3ds.com        

    +33 (0)1 61 62 87 73

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

    APPENDIX TABLE OF CONTENTS

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.    

    Glossary of Definitions

    Non-IFRS Financial Information

    Acquisitions and Foreign Exchange Impact

    Condensed consolidated statements of income

    Condensed consolidated balance sheet

    Condensed consolidated cash flow statement

    IFRS – non-IFRS reconciliation

    DASSAULT SYSTÈMES – Glossary of Definitions

    Information in Constant Currencies

    Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

    While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation for comparing IFRS revenue figures as well non-IFRS revenue figures for comparable periods. All information at constant exchange rates is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

    Information on Growth excluding acquisitions (“organic growth”)

    In addition to financial indicators on the entire Group’s scope, Dassault Systèmes provides growth excluding acquisitions effect, also named organic growth. In order to do so, the data relating to the scope is restated excluding acquisitions, from the date of the transaction, over a period of 12 months.

    Information on Industrial Sectors

    The Group provides broad end-to-end software solutions and services: its platform-based virtual twin experiences combine modeling, simulation, data science and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

    These three sectors comprise twelve industries:

    • Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
    • Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, med practices, and Medtech;
    • Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

    Information on Product Lines

    The Group’s product lines financial reporting include the following financial information:

    • Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
    • Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
    • Mainstream Innovation software revenue which includes its CENTRIC PLM and 3DVIA brands, as well as its 3DEXPERIENCE WORKS family which includes the SOLIDWORKS brand.

    Starting from 2022, 3DS OUTSCALE became a brand of Dassault Systèmes. As the first sovereign and sustainable operator on the cloud, 3DS OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

    GEO’s

    Eleven GEOs are responsible for driving development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

    These GEOs are structured into three groups:

    • the “Americas” group, made of two GEO’s;
    • the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEO’s;
    • the “Asia” group, comprising Asia and Oceania and made of five GEO’s.  

    3DEXPERIENCE Software Contribution

    To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes uses the following ratio: for software revenue, the Group calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

    Cloud revenue

    Cloud revenues correspond to revenue generated through a catalog of cloud-based solutions, infrastructure as a service, cloud solution development and cloud managed services. They are delivered by Dassault Systèmes via a cloud infrastructure hosted by Dassault Systèmes, or by third party providers of cloud computing infrastructure services. These offerings are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscriptions models or perpetual licenses with support and hosting services.

    DASSAULT SYSTÈMES

    NON-IFRS FINANCIAL INFORMATION

    (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

    Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

    Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

    In millions of Euros, except per share data, percentages, headcount and exchange rates Non-IFRS reported
    Three months ended Nine months ended
    September 30,

    2024

    		 September 30,

    2023

    		 Change Change in constant currencies September 30,

    2024

    		 September 30,

    2023

    		 Change Change in constant currencies
    Total Revenue € 1,463.9 € 1,424.7 3% 4% € 4,459.3 € 4,308.0 4% 4%
                     
    Revenue breakdown by activity                
    Software revenue 1,312.4 1,286.7 2% 3% 4,011.8 3,883.9 3% 4%
    Of which licenses and other software revenue 229.5 246.0 (7)% (7)% 719.8 735.8 (2)% (1)%
    Of which subscription and support revenue 1,082.9 1,040.8 4% 5% 3,292.0 3,148.1 5% 5%
    Services revenue 151.5 138.0 10% 10% 447.6 424.1 6% 6%
                     
    Software revenue breakdown by product line                
    Industrial Innovation 684.6 698.8 (2)% (1)% 2,117.9 2,070.7 2% 4%
    Life Sciences 280.1 283.6 (1)% (0)% 846.6 863.8 (2)% (2)%
    Mainstream Innovation 347.7 304.2 14% 15% 1,047.4 949.5 10% 11%
                     
    Software Revenue breakdown by geography                
    Americas 540.6 513.6 5% 6% 1,619.7 1,575.2 3% 3%
    Europe 470.3 490.5 (4)% (4)% 1,465.4 1,426.3 3% 2%
    Asia 301.5 282.7 7% 9% 926.6 882.4 5% 9%
                     
    Operating income € 432.6 € 442.0 (2)%   € 1,347.0 € 1,335.7 1%  
    Operating margin 29.6% 31.0%     30.2% 31.0%    
                     
    Net income attributable to shareholders € 380.1 € 371.3 2%   € 1,174.4 € 1,110.7 6%  
    Diluted earnings per share € 0.29 € 0.28 3% 4% € 0.89 € 0.84 6% 8%
                     
    Closing headcount 25,996 25,377 2%   25,996 25,377 2%  
                     
    Average Rate USD per Euro 1.10 1.09 1%   1.09 1.08 0%  
    Average Rate JPY per Euro 163.95 157.25 4%   164.29 149.65 10%  

    DASSAULT SYSTÈMES

    ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

    (unaudited; in millions of Euros)

    In millions of Euros Non-IFRS reported o/w growth at constant rate and scope o/w change of scope impact at current year rate o/w FX impact on previous year figures
    September 30,

    2024

    		 September 30,

    2023

    		 Change
    Revenue QTD 1,463.9 1,424.7 39.2 49.8 1.3 (11.8)
    Revenue YTD 4,459.3 4,308.0 151.3 190.2 1.6 (40.4)

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (unaudited; in millions of Euros, except per share data and percentages)

    In millions of Euros, except per share data and percentages IFRS reported
    Three months ended Nine months ended
    September 30, September 30, September 30, September 30,
    2024 2023 2024 2023
    Licenses and other software revenue 229.5 246.0 719.8 735.8
    Subscription and Support revenue 1,082.9 1,040.8 3,292.0 3,148.1
    Software revenue 1,312.4 1,286.7 4,011.8 3,883.9
    Services revenue 151.5 138.0 447.6 424.1
    Total Revenue € 1,463.9 € 1,424.7 € 4,459.3 € 4,308.0
    Cost of software revenue (1) (127.6) (105.2) (364.4) (329.0)
    Cost of services revenue (125.3) (133.1) (385.0) (386.1)
    Research and development expenses (321.0) (299.2) (958.5) (910.8)
    Marketing and sales expenses (403.7) (381.0) (1,247.7) (1,195.2)
    General and administrative expenses (117.5) (103.2) (334.1) (325.9)
    Amortization of acquired intangible assets and of tangible assets revaluation (88.5) (93.4) (274.1) (284.0)
    Other operating income and expense, net (4.2) (7.1) (19.2) (16.7)
    Total Operating Expenses (1,187.7) (1,122.2) (3,583.1) (3,447.7)
    Operating Income € 276.2 € 302.5 € 876.2 € 860.3
    Financial income (loss), net 32.1 (4.3) 95.5 31.1
    Income before income taxes € 308.2 € 298.2 € 971.7 € 891.5
    Income tax expense (68.5) (54.9) (184.4) (171.5)
    Net Income € 239.8 € 243.3 € 787.2 € 719.9
    Non-controlling interest (0.0) 0.1 0.9 1.0
    Net Income attributable to equity holders of the parent € 239.7 € 243.5 € 788.2 € 720.9
    Basic earnings per share 0.18 0.18 0.60 0.55
    Diluted earnings per share € 0.18 € 0.18 € 0.61 € 0.54
    Basic weighted average shares outstanding (in millions) 1,313.3 1,316.1 1,313.4 1,315.2
    Diluted weighted average shares outstanding (in millions) 1,323.1 1,326.1 1,327.0 1,326.8

    (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.

    IFRS reported

     

    		 Three months ended September 30, 2024 Nine months ended September 30, 2024
    Change (2) Change in constant currencies Change (2) Change in constant currencies
    Total Revenue 3% 4% 4% 4%
    Revenue by activity        
    Software revenue 2% 3% 3% 4%
    Services revenue 10% 10% 6% 6%
    Software Revenue by product line        
    Industrial Innovation (2)% (1)% 2% 4%
    Life Sciences (1)% (0)% (2)% (2)%
    Mainstream Innovation 14% 15% 10% 11%
    Software Revenue by geography        
    Americas 5% 6% 3% 3%
    Europe (4)% (4)% 3% 2%
    Asia 7% 9% 5% 9%

    (2) Variation compared to the same period in the prior year.

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED BALANCE SHEET

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    September 30, December 31,
    2024 2023
    ASSETS    
    Cash and cash equivalents 3,657.7 3,568.3
    Trade accounts receivable, net 1,359.8 1,707.9
    Contract assets 45.1 26.8
    Other current assets 495.1 477.1
    Total current assets 5,557.7 5,780.1
    Property and equipment, net 946.2 882.8
    Goodwill and Intangible assets, net 7,301.4 7,647.0
    Other non-current assets 253.2 312.5
    Total non-current assets 8,500.7 8,842.3
    Total Assets € 14,058.4 € 14,622.5
    LIABILITIES    
    Trade accounts payable 181.2 230.5
    Contract liabilities 1,376.7 1,479.3
    Borrowings, current 548.8 950.1
    Other current liabilities 768.6 901.0
    Total current liabilities 2,875.4 3,561.0
    Borrowings, non-current 2,042.8 2,040.6
    Other non-current liabilities 1,137.7 1,174.8
    Total non-current liabilities 3,180.5 3,215.4
    Non-controlling interests 13.8 11.9
    Parent shareholders’ equity 7,988.7 7,834.1
    Total Liabilities € 14,058.4 € 14,622.5

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED CASH FLOW STATEMENT

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    Three months ended Nine months ended
    September 30, September 30, Change September 30, September 30, Change
    2024 2023 2024 2023
    Net income attributable to equity holders of the parent 239.7 243.5 (3.7) 788.2 720.9 67.3
    Non-controlling interest 0.0 (0.1) 0.1 (0.9) (1.0) 0.0
    Net income 239.8 243.3 (3.6) 787.2 719.9 67.3
    Depreciation of property and equipment 49.4 47.3 2.1 142.1 138.4 3.7
    Amortization of intangible assets 90.3 95.2 (5.0) 279.7 290.3 (10.6)
    Adjustments for other non-cash items 39.3 65.4 (26.1) 113.6 123.5 (10.0)
    Changes in working capital (201.1) (205.3) 4.2 25.2 (0.4) 25.6
    Net Cash From Operating Activities € 217.6 € 246.0 € (28.4) € 1,347.8 € 1,271.7 € 76.0
                 
    Additions to property, equipment and intangibles assets (36.5) (35.1) (1.4) (144.3) (102.8) (41.5)
    Payment for acquisition of businesses, net of cash acquired (2.6) (14.8) 12.2 (18.3) (15.6) (2.6)
    Other 0.7 4.5 (3.8) 23.9 (0.4) 24.2
    Net Cash Provided by (Used in) Investing Activities € (38.3) € (45.3) €7.0 € (138.7) € (118.8) € (19.9)
                 
    Proceeds from exercise of stock options 8.8 11.6 (2.7) 44.0 38.5 5.5
    Cash dividends paid – (0.0) 0.0 (302.7) (276.3) (26.4)
    Repurchase and sale of treasury stock (65.8) (218.6) 152.8 (373.5) (386.0) 12.5
    Capital increase (0.0) 0.0 (0.0) – 146.1 (146.1)
    Acquisition of non-controlling interests (0.7) 0.0 (0.7) (3.3) (0.8) (2.5)
    Proceeds from borrowings 300.0 (0.3) 300.3 300.0 20.3 279.7
    Repayment of borrowings (700.5) (0.9) (699.6) (700.7) (28.2) (672.5)
    Repayment of lease liabilities (18.7) (21.1) 2.4 (61.0) (63.0) 2.1
    Net Cash Provided by (Used in) Financing Activities € (476.9) € (229.4) € (247.5) € (1,097.1) € (549.4) €( 547.7)
                 
    Effect of exchange rate changes on cash and cash equivalents (76.2) 51.7 (127.9) (22.6) (4.4) (18.2)
                 
    Increase (decrease) in cash and cash equivalents € (373.8) €22.7 € (396.5) € 89.4 € 599.2 € (509.8)
                 
    Cash and cash equivalents at beginning of period € 4,031.5 € 3,345.4   € 3,568.3 € 2,769.0  
    Cash and cash equivalents at end of period € 3,657.7 € 3,368.1   € 3,657.7 € 3,368.1  

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Three months ended September 30, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 1,463.9 – € 1,463.9 € 1,424.7 – € 1,424.7 3% 3%
    Revenue breakdown by activity                
    Software revenue 1,312.4 – 1,312.4 1,286.7 – 1,286.7 2% 2%
    Licenses and other software revenue 229.5 – 229.5 246.0 – 246.0 (7)% (7)%
    Subscription and Support revenue 1,082.9 – 1,082.9 1,040.8 – 1,040.8 4% 4%
    Recurring portion of Software revenue 83%   83% 81%   81%    
    Services revenue 151.5 – 151.5 138.0 – 138.0 10% 10%
    Software Revenue breakdown by product line                
    Industrial Innovation 684.6 – 684.6 698.8 – 698.8 (2)% (2)%
    Life Sciences 280.1 – 280.1 283.6 – 283.6 (1)% (1)%
    Mainstream Innovation 347.7 – 347.7 304.2 – 304.2 14% 14%
    Software Revenue breakdown by geography                
    Americas 540.6 – 540.6 513.6 – 513.6 5% 5%
    Europe 470.3 – 470.3 490.5 – 490.5 (4)% (4)%
    Asia 301.5 – 301.5 282.7 – 282.7 7% 7%
    Total Operating Expenses € (1,187.7) € 156.5 € (1,031.2) € (1,122.2) € 139.5 € (982.7) 6% 5%
    Share-based compensation expense and related social charges (63.4) 63.4 – (38.4) 38.4 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (88.5) 88.5 – (93.4) 93.4 –    
    Lease incentives of acquired companies (0.4) 0.4 – (0.7) 0.7 –    
    Other operating income and expense, net (4.2) 4.2 – (7.1) 7.1 –    
    Operating Income € 276.2 € 156.5 € 432.6 € 302.5 € 139.5 € 442.0 (9)% (2)%
    Operating Margin 18.9%   29.6% 21.2%   31.0%    
    Financial income (loss), net 32.1 0.6 32.6 (4.3) 26.8 22.5 N/A 45%
    Income tax expense (68.5) (15.8) (84.3) (54.9) (38.1) (93.0) 25% (9)%
    Non-controlling interest (0.0) (0.9) (0.9) 0.1 (0.4) (0.3) (117)% 229%
    Net Income attributable to shareholders € 239.7 € 140.3 € 380.1 € 243.5 € 127.8 € 371.3 (2)% 2%
    Diluted Earnings Per Share (3) € 0.18 € 0.10 € 0.29 € 0.18 € 0.10 € 0.28 0% 3%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Three months ended September 30, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (252.9) 3.3 0.1 (249.5) (238.2) 2.1 0.2 (236.0) 6% 6%
    Research and development expenses (321.0) 20.4 0.2 (300.4) (299.2) 14.9 0.3 (284.1) 7% 6%
    Marketing and sales expenses (403.7) 18.9 0.0 (384.8) (381.0) 11.1 0.1 (369.8) 6% 4%
    General and administrative expenses (117.5) 20.8 0.0 (96.6) (103.2) 10.3 0.0 (92.9) 14% 4%
    Total   € 63.4 € 0.4     € 38.4 € 0.7      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,323.1 million diluted shares for Q3 2024 and 1,326.1 million diluted shares for Q3 2023, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 243.2 million for Q3 2024 (€ 243.5 million for Q3 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Nine months ended September 30, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 4,459.3   € 4,459.3 € 4,308.0 – € 4,308.0 4% 4%
    Revenue breakdown by activity                
    Software revenue 4,011.8   4,011.8 3,883.9 – 3,883.9 3% 3%
    Licenses and other software revenue 719.8 – 719.8 735.8 – 735.8 (2)% (2)%
    Subscription and Support revenue 3,292.0   3,292.0 3,148.1 – 3,148.1 5% 5%
    Recurring portion of Software revenue 82%   82% 81%   81%    
    Services revenue 447.6 – 447.6 424.1 – 424.1 6% 6%
    Software Revenue breakdown by product line                
    Industrial Innovation 2,117.9 – 2,117.9 2,070.7 – 2,070.7 2% 2%
    Life Sciences 846.6 – 846.6 863.8 – 863.8 (2)% (2)%
    Mainstream Innovation 1,047.4 – 1,047.4 949.5 – 949.5 10% 10%
    Software Revenue breakdown by geography                
    Americas 1,619.7   1,619.7 1,575.2 – 1,575.2 3% 3%
    Europe 1,465.4 – 1,465.4 1,426.3 – 1,426.3 3% 3%
    Asia 926.6 – 926.6 882.4 – 882.4 5% 5%
    Total Operating Expenses € (3,583.1) € 470.8 € (3,112.4) € (3,447.7) € 475.4 € (2,972.3) 4% 5%
    Share-based compensation expense and related social charges (175.9) 175.9 – (172.6) 172.6 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (274.1) 274.1 – (284.0) 284.0 –    
    Lease incentives of acquired companies (1.5) 1.5 – (2.1) 2.1 –    
    Other operating income and expense, net (19.2) 19.2 – (16.7) 16.7 –    
    Operating Income € 876.2 € 470.8 € 1,347.0 € 860.3 € 475.4 € 1,335.7 2% 1%
    Operating Margin 19.6%   30.2% 20.0%   31.0%    
    Financial income (loss), net 95.5 2.1 97.6 31.1 28.3 59.4 207% 64%
    Income tax expense (184.4) (83.8) (268.2) (171.5) (112.8) (284.3) 8% (6)%
    Non-controlling interest 0.9 (2.8) (1.9) 1.0 (1.2) (0.2) (3)% N/A
    Net Income attributable to shareholders € 788.2 € 386.2 € 1,174.4 € 720.9 € 389.7 € 1,110.7 9% 6%
    Diluted Earnings Per Share (3) € 0.61 € 0.28 € 0.89 € 0.54 € 0.29 € 0.84 12% 6%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Nine months ended September 30, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (749.4) 11.2 0.4 (737.8) (715.1) 12.1 0.6 (702.3) 5% 5%
    Research and development expenses (958.5) 58.7 0.7 (899.1) (910.8) 65.9 0.9 (844.0) 5% 7%
    Marketing and sales expenses (1,247.7) 55.7 0.2 (1,191.8) (1,195.2) 52.7 0.4 (1,142.2) 4% 4%
    General and administrative expenses (334.1) 50.3 0.1 (283.7) (325.9) 42.0 0.1 (283.8) 3% (0)%
    Total   € 175.9 € 1.5     € 172.6 € 2.1      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,327.0 million diluted shares for YTD 2024 and 1,326.8 million diluted shares for YTD 2023, and, for IFRS only, a diluted net income attributable to the shareholders of € 805.5 million for YTD 2024 (€ 720.9 million for YTD 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    1 IFRS figures for 3Q24: total revenue at €1.46 billion, operating margin of 18.9% and diluted EPS at €0.18; IFRS figures for YTD24: total revenue at €4.46 billion, operating margin of 19.6% and diluted EPS at €0.61.  

    Attachment

    The MIL Network –

  • MIL-OSI: WISeKey Launches its Enhanced INeS AI Security Broker Solution

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Launches its Enhanced INeS AI Security Broker Solution

    Geneva, Switzerland – October 24, 2024 – WISeKey International Holding (“WISeKey”, SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity digital identity and Internet of Things (IoT) innovations operating as a holding company, today announced the launch of the enhanced INeS AI Security Broker solution. This innovative upgrade integrates Artificial Intelligence (AI) with Public Key Infrastructure (PKI) technologies, revolutionizing how credentials are remotely and securely verified. The new solution manages the activation, deactivation, revocation, renewal, and secure update of IoT devices and business applications with end-to-end protection.

    As organizations increasingly incorporate AI-powered applications into their operations, the number of digital identities in circulation continues to rise, creating challenges not just in scale but also in security and management complexity. To address these evolving needs, WISeKey’s INeS AI Security Broker introduces a smarter, automated approach to managing digital certificates and identities across expanding IoT networks.

    Key Features of the INeS AI Security Broker:

    • Seamless Integration: Easily compatible with any IoT platform, the INeS AI Security Broker supports the secure issuance of digital certificates, lifecycle management, and rapid authentication for vast networks of devices.
    • AI-Powered Insights: The integration of machine learning enables automatic pattern recognition and anomaly detection from sensor data, such as temperature, pressure, humidity, and vibration, providing real-time insights and enhanced security.
    • Proactive Threat Management: AI-enhanced PKI solutions mitigate risks by automating security processes and preventing potential threats before they escalate. Predictive analytics allow organizations to pinpoint vulnerabilities and address misconfigurations swiftly.

    The surge in digital identities and devices places significant strain on traditional PKI systems, increasing operational burdens for system administrators. Any disruption or mismanagement in digital identity management could result in severe security risks and operational downtime. To counter these challenges, WISeKey’s AI-powered PKI solutions streamline processes, enabling organizations to efficiently manage their digital certificates while significantly reducing the risk of breaches and operational failures.

    Addressing Key Challenges in AI-PKI Integration:
    While the advantages of integrating AI with PKI systems are clear, adoption remains low due to the technical complexity of these domains. WISeKey seeks to bridge this gap through strategic partnerships, offering organizations access to tailored AI and PKI solutions that meet their specific security needs.

    As AI continues to transform the cybersecurity landscape, its role in managing and securing digital identities will become indispensable. The combination of PKI and AI will help organizations protect their digital assets, ensure compliance with evolving regulations, and maintain resilient digital infrastructures.

    Strategic Implications for the Future:
    The integration of AI into PKI not only enhances security but also builds trust by embracing cutting-edge approaches to digital identity management. WISeKey’s technology enables organizations to stay ahead of emerging threats, positioning them to manage the growing complexity of IoT networks while ensuring that their infrastructure is secure and compliant.

    WISeKey remains committed to advancing its technology platform and forming long-term relationships with strategic partners, enabling high-profile clients to leverage state-of-the-art solutions in cybersecurity, digital identity, AI, and IoT.

    For more information on the INeS AI Security Broker and WISeKey’s suite of cybersecurity solutions, visithttps://www.wisekey.com/device-identity-lifecycle-management/. .

    About WISeKey
    WISeKey is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.

    WISeKey’s work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey’s post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611 / lcati@equityny.com
    Katie Murphy
    Tel: +1 212 836-9612 / kmurphy@equityny.com

    The MIL Network –

  • MIL-OSI Economics: Public Policies in Focus as APEC Pushes for Sustainable Finance Solutions Lima, Peru | 23 October 2024 APEC Finance Ministers’ Process

    Source: APEC – Asia Pacific Economic Cooperation

    The growing urgency to address climate change and environmental challenges has propelled sustainable finance into the spotlight as governments, businesses and investors increasingly prioritize sustainability considerations. This shift is transforming the financial landscape and driving capital toward projects that promote sustainability from renewable energy infrastructure to social impact initiatives.

    Against this backdrop, APEC Finance Ministers from across the APEC region convened in Lima on Sunday to discuss strategies for promoting low-carbon, climate-resilient economies. Representatives from international organizations, business leaders, and experts also offered their views on transition to a sustainable economy and the potential for investment it may bring.

    Opening the High-Level Event on Sustainable Finance: Public Policies in Action for Sustainable Development, José Arista Arbildo, Peru’s Minister of Economy and Finance, emphasized the importance of recognizing the interconnection between economic growth, environmental sustainability and social well-being.

    “We are facing unprecedented global environmental challenges such as climate change, biodiversity loss and natural resource scarcity,” Minister Arista said. “These challenges not only pose a threat to the environment, but also have significant implications for economic stability and the well-being of the populations of our economies.”

    Sustainable finance, a broad term that refers to investments aimed at generating both financial returns and positive environmental or social outcomes, has seen unprecedented growth. With the global economy increasingly focused on mitigating climate risks and achieving long-term sustainable development, financial institutions are responding by integrating sustainability criteria into their portfolios.

    “The strengthening of economic and financial systems is necessary to ensure their efficient adaptation to new paradigms that will make it possible to promote environmental, social and economic sustainability,” he added. “In this context, public policies are a transformative tool for integrating sustainability into the financial framework of our economies.”

    To successfully embed sustainability into the financial system, economies must embrace a strategic vision that shapes public policies promoting environmentally responsible practices.

    “Strategic planning for this integration is not only an ethical imperative, but also an economic necessity,” Minister Arista explained. “Providing a predictable framework for sustainable finance is one such policy.”

    During the panel discussion, experts called for holistic strategies that harmonize economic and financial activities to foster competitiveness and productivity. They stressed the importance of setting clear, long-term sustainability goals including the importance of governance frameworks and spaces for coordination; and fostering collaboration among stakeholders.

    The conversation also tackled the practical challenges member economies face in implementing sustainable financial practices. It further underscored the critical role of public-private partnerships in overcoming obstacles such as limited funding and regulatory barriers.

    APEC Business Advisory Council Chair, Julia Torreblanca, echoed the sentiment, highlighting the importance of business and public sector collaboration in driving sustainable development.

    “Sustainable finance is a joint endeavor where the private sector plays a critical role,” Torreblanca said. “However, it needs a policy environment that fosters innovation, facilitates sustainable investments and nurtures public-private collaboration.”

    According to experts, the transition to a sustainable economy presents significant investment opportunities despite the challenges. From renewable energy projects to sustainable agriculture, sectors aimed at reducing carbon emissions and promoting social equity are poised for growth. Experts also explored the potential for innovative economic instruments to support sustainability initiatives.

    One key takeaway from the event was the importance of fostering partnerships between governments, businesses and financial institutions. Such collaborations are seen as essential for creating innovative financial instruments and policies that will enhance the implementation of sustainable finance initiatives across the APEC region.

    “Being appropriately prepared to address emerging challenges and seize opportunities along the path to sustainable finance is essential,” Minister Arista concluded. “Public policies are thus a powerful tool that can guide us. If designed and implemented correctly, they can transform our economies and societies.”

    For further details, please contact:

    APEC Media at [email protected]

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: FS promotes HK’s advantages in US

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan delivered a speech and held discussions with President of the National Committee on United States-China Relations Steve Orlins as he continued a visit to New York, the US.

    Mr Chan gave his speech at a lunch co-hosted by the Hong Kong Economic & Trade Office in New York and the Hong Kong Association of New York and attended by around 80 representatives from the business sector and from various institutions, chambers of commerce and think tanks.

    At the lunch, he also discussed topics of interest relating to Hong Kong in US political and business circles with Mr Orlins.

    In his address, Mr Chan spoke about Hong Kong’s economic situation and development strategies. He focused in particular on new initiatives in areas such as finance and innovation and technology, policies and achievements related to attracting businesses and talent, and Hong Kong’s increasingly close co-operation and collaborations with sister cities in the Greater Bay Area.

    Mr Chan stated that the “one country, two systems” arrangement will in place in Hong Kong for the long term. He emphasised that the city will continue to play a unique role as a super-connector and super value-adder, linking the Mainland’s capital markets and investors with those of the global community to create value and opportunities for all.

    He highlighted that Hong Kong maintains its common law system, upholds the rule of law, provides an open, free, and simple low-tax business environment, and protects investors’ rights. Following the implementation of national security legislation, he added, foreign businesses continue to have confidence in Hong Kong, and various international institutions have affirmed the city’s excellent business environment and competitiveness.

    The Financial Secretary highlighted that Hong Kong values the strengthening of relationships with traditional markets and welcomes continued investments from the US business community. He said that the Hong Kong Special Administrative Region Government will continue to present the real situation in Hong Kong through objective facts and data, and will maintain communication and connections with political and business sectors in the US.

    Earlier, Mr Chan had breakfast with local political and business figures, followed by a roundtable meeting with local financial and banking professionals in which he briefed them on Hong Kong’s latest situation and opportunities, and took questions.

    Mr Chan met Acting Consul General of China in New York Ma Xiaoxiao in the afternoon to discuss China-US economic and trade relations.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: CMA launches programme of work to support growth mission

    Source: United Kingdom – Executive Government & Departments

    The CMA announces a new growth-focused work programme from its Microeconomics Unit alongside publication of its third State of Competition report.

    To support the UK government’s growth mission and Industrial Strategy, the Competition and Markets Authority (CMA) has today announced the next programme of work to be conducted by economists in the CMA’s specialist Microeconomics Unit (MU).

    In its recently published Industrial Strategy Green Paper,  the UK government noted the importance of “competitive and innovative business ecosystems, particularly in industries with low market dynamism and high barriers to entry” and the need for “competitive markets to improve efficiency and improve the performance of interconnected value chains, ultimately benefiting consumers through better prices, quality, and choice”.

    The CMA’s new MU Growth Programme will focus on critical drivers and blockers of growth including: how easily or not new technology spreads across the economy; the impact of upstream market power on economic performance and supply chain resilience; and how competition impacts investment.

    This new work programme follows the CMA’s third State of Competition report, also published today.

    Sarah Cardell, Chief Executive of the CMA, said:

    At a time of tremendous opportunity for the UK, effective competition has a key role to play in driving economic growth, investment, and innovation. That’s why the CMA is launching the new MU Growth Programme to help inform the government’s growth mission and Industrial Strategy.

    This follows our latest State of Competition Report, which indicates that levels of effective competition in the UK have weakened slightly over time, although by less than in other economies, and that levels of business dynamism have fallen. The report reinforces the important role of effective competition enforcement to drive greater business dynamism and sustained innovation, productivity, and growth across the economy.

    The CMA’s third State of Competition report is the most comprehensive assessment to date of how competition is working in the UK. Today’s report reinforces the importance of continued action by the CMA and wider UK government to keep markets open, competitive, and dynamic.

    Key findings of the CMA’s third State of Competition report include:

    • Indicators suggesting levels of competition across the economy have weakened slightly over time, but at a slower rate than some other advanced economies. Markups – the difference between the selling price of a good or service and the amount it costs to make have risen by around 10% in Great Britain over the past 25 years. And the increase in markups is greater among firms that already have higher markups.

    • Business dynamism has fallen  across all measures, cementing concerns identified in the 2022 State of Competition report – as referenced in the UK government’s Industrial Strategy Green Paper. Competition between firms jostling for market share spurs growth, but firm entry and exit rates have declined across most sectors. At the top of most industries, the largest firms are more likely to keep their position over multiple years , while new entrants are less successful than they used to be in displacing them.

    • Technology plays an important role in markups. Investment in upfront fixed costs (like research and development, software, and branding) have become increasingly important for firms to compete effectively. As a result, markups in firms making these investments are higher, to cover upfront costs. But where investments in technology create barriers to entry, this can also lead to lower levels of effective competition.

    • In an environment where dynamism is falling, and technological change may be benefitting larger firms, effective competition policy – merger control and the enforcement of competition law – is critical to keep market power in check. Competition may be weaker in some ‘upstream’ sectors, where markups tend to be higher and trade contributes positively to competition – markups are lower in sectors exposed to international trade.

    The CMA’s MU Growth Programme will focus analysis across a range of issues including: 

    • barriers to the spread of new technology and knowledge across the economy, recognised in the report as a potential barrier to dynamism and growth
    • the role of competition in driving and directing productive investment
    • the strength of competition along supply chains, and the impact of ‘upstream’ market power on downstream sectors – reflecting the importance of competitive markets for key inputs to UK economic performance and resilience
    • pro-growth industrial policy interventions, and lessons from past experience and other countries, to help inform the UK government’s Invest 2035

    Notes to editors

    1. The previous State of Competition Report was published in 2022.
    2. Recognising the importance of competition, in 2020 the then Chancellor and the Business Secretary asked the CMA to regularly publish a report assessing the state of competition in the UK economy over the last 25 years, which will continue under the new government.
    3. For media enquiries, contact the CMA press office on 020 3738 6460 or press@cma.gov.uk.

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom –

  • MIL-Evening Report: Stalking rates in Australia are still shockingly high – one simple strategy might help

    Source: The Conversation (Au and NZ) – By Troy McEwan, Professor of Clinical and Forensic Psychology, Swinburne University of Technology

    UfaBizPhoto/Shutterstock

    New data from the Australian Bureau of Statistics (ABS) reveals one in seven adult Australians have been stalked in their lifetime: one in five women and one in 15 men.

    While shocking to many, for those of us who work in the field, there is nothing surprising about these figures.

    The ABS has conducted similar surveys roughly every five years since 2005, which reveal basically the same results each time.

    About 3-4% of women and 1-2% of men are victims of stalking every year.

    These rates are consistent with those reported in research from the United Kingdom and United States, with small variations depending on definition.

    Stalking rates have remained stubbornly consistent despite the same ABS survey showing reductions in the rates of intimate partner violence and general violence over the past decade.

    The reasons for this are unclear, though there are obvious differences in the level of government and community investment in countering intimate partner violence versus awareness of and attention to stalking.

    What exactly is stalking?

    Stalking is a pattern of repeated and unwanted behaviour in which one person pushes their way into the life of another where they have no legitimate right to be, causing the target distress and fear.

    The most common methods are unwanted communication (by phone or digital media) and unwanted contacts (such as following someone or loitering nearby).

    Threats of violence and assault occur in at least a quarter of cases.

    Stalking that persists for more than two weeks is more likely to continue and cause significant harm.

    The impact of stalking

    Victims of persistent stalking have described it as “psychological rape”, with the stalker invading every part of their life.

    The cumulative impact of seemingly never-ending intrusions, and their social and financial toll, is probably why stalking victims report high rates of depression, anxiety and traumatic stress disorders.

    Researchers have estimated being stalked for 14 months costs victims approximately $A140,000, including direct costs from lost work and legal expenses and indirect costs of physical and mental harm.

    Who stalks?

    Most stalking is perpetrated by people who are known to the victim, either as an acquaintance or an ex-partner, with strangers responsible for about 20-25% of stalking.

    Stalking usually starts either because the person feels mistreated and stalks to take revenge or right the wrong, or they stalk to start or enact a relationship with the victim that does not exist. In a small number of cases, stalking has a sexual motivation and can sometimes be part of planning or preparation for a sexual assault.

    Regardless of motivation, most stalking is communicative – the stalker wants the victim to know they exist and to feel like they must respond.

    However, responding to a stalker is not advisable as it usually just adds fuel to the emotional fire that drives them.

    Ex-partners account for just under half of all stalking cases and many more women than men are stalked by an ex.

    Stalking in this context is a type of intimate partner violence and it receives by far the most attention and response.

    Research suggests that intimate partner stalking is more often identified as being perpetrated by former rather than current partners.

    Psychological abuse or coercive control during a relationship might be linked to increased potential for stalking after a break-up.

    Physical violence is much more common in cases of ex-partner stalking, with the ABS survey and earlier research finding half of intimate partner stalkers used physical violence.

    Thankfully, most stalking-related violence does not cause severe physical harm and homicide is extremely rare.

    Although prior stalking is common in ex-partner homicides, recent Victorian research showed that of 5,026 intimate partner violence reports to police involving stalking, only nine involved fatal or near fatal violence in the following 12 months.

    This means the presence of stalking is not a useful risk factor for trying to predict intimate partner homicide.

    Strategies against stalking

    Numerous strategies have been identified to prevent and reduce stalking-related harms. Among those tried largely outside Australia:

    The Victorian Law Reform Commission’s 2022 review of stalking laws recommended adoption of several of these strategies, though to date the state government has committed only to revising the stalking law.

    A simple but powerful strategy

    Stalking is a complicated problem and a comprehensive response needs multi-faceted systemic change that will be costly and take much effort and time.

    Currently, there doesn’t seem to be an appetite in Australia for the work required.

    However, there is one relatively straightforward thing the federal, state and territory governments could do right now to help: establish a national stalking helpline that can provide specialist information, advice and advocacy for all victims.

    Such a helpline was established in the UK in 2010 and has supported more than 65,000 people.

    The helpline provides online and telephone advice to potential stalking victims, including basic risk assessment, advocacy and links to local support services. It also provides advice to mental health professionals and others who are supporting stalking victims.

    The helpline serves all people, regardless of their gender or relationship with the stalker. Nearly half (45%) of its clients are stalked by a stranger or acquaintance, not an ex-partner. This highlights the importance of a specialised stalking response separate to existing services for family and intimate partner violence.

    An Australian equivalent would provide immediate support for victims and a focal point for necessary research and evaluation into what works to stop stalking.

    An Australian national stalking helpline would be a practical, relatively inexpensive and immediately helpful strategy that governments could implement to support the hundreds of thousands of Australians who are stalked every year.

    Troy McEwan has received funding from the Australian Research Council and Victoria Police for stalking-related research.

    – ref. Stalking rates in Australia are still shockingly high – one simple strategy might help – https://theconversation.com/stalking-rates-in-australia-are-still-shockingly-high-one-simple-strategy-might-help-241891

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: UK supports rugby development in Solomon Islands through SOS Kit Aid

    Source: United Kingdom – Executive Government & Departments

    Rugby Solomon Islands received donation of training kits from UK charity SOS Kit Aid through partnership with the British High Commission in Solomon Islands.

    A group photo with the SOS Aid kit donated to SIRUF.

    SOS Kit Aid is a charity organisation that distributes both new and second-hand rugby kits to children all over the world, with the support of World Rugby. It was founded back in 2001, by rugby dad, John Broadfoot, who, whilst during a trip to Romania witnessed a smiling 8-year-old boy running with the ball under one arm, whilst he used the other arm to hold up his shorts. John wanted to do something about this.

    John knew that his sons had several pairs of boots and other kit lying around at home, and so, to test out the potential, he collected kit from ten schools, to see how much was available on a wider scale. The test was an outstanding success and so SOS Kit Aid was born.

    Handing over the kits to the Solomon Islands Rugby Union Federation (SIRUF), High Commissioner His Excellency Thomas Coward said:

    Rugby teaches children values and teamwork. The Solomon Islanders Rugby Union Federation Get into Rugby programme frames this through its approach to Respect, Integrity, Solidarity, Discipline and Fun. Rugby is a great bridge between our two countries and brings us all together.

    Receiving the kits on SIRUF’s behalf was Secretary of the Executive Board, Angikinui Francis Tekatoha who said rugby has a long history and they have been developing the sport in Solomon Islands. He added:

    Our partnership with the British High Commission supports our Get into Rugby programme, Get into Rugby Plus and Rise Rugby. Our most recent rugby development programme is focusing on women, young people and schools so the gifts you are giving us today will be used in those programmes for training. The donation of kit deepens the partnership between the Rugby Federation and the British High Commission.

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK Strengthens Cyber Partnership with Singapore

    Source: United Kingdom – Executive Government & Departments

    The UK and Singapore deepen cyber security collaboration, building on their Strategic Partnership.

    MOD Crown Copyright

    The UK recently welcomed Brigadier Edward Chen, Defence Cyber Chief of the Singapore Digital and Intelligence Service (DIS), in a visit focused on strengthening the UK-Singapore relationship in the cyber domain. During his visit, the Singaporean Defence Cyber Chief attended the International Institute for Strategic Studies (IISS) Cyber Power Workshop and participated in bilateral engagements with key UK stakeholders, including the Ministry of Defence, the National Cyber Security Centre, and industry leaders.  

    This visit took place ahead of the Singapore International Cyber Week, reflecting the UK’s commitment to international collaboration in the cyber domain, as emphasised by Deputy Commander Strategic Command, Lt Gen Tom Copinger-Symes:

    External relationships are vital in this domain which spans national and geographic boundaries. 

    MOD Crown Copyright

    The UK and Singapore are global leaders in cyber and electromagnetic capabilities, working closely with international partners to promote a secure and stable digital environment. This visit built on the UK-Singapore Strategic Partnership established last September, highlighting the commitment of both nations to deepen collaboration in areas of mutual interest, including cyber and emerging technologies. The partnership with Singapore is crucial to addressing shared cyber challenges and ensuring a resilient digital future.

    MOD Crown Copyright

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Planning Department and Lands Department respond to Office of The Ombudsman’s direct investigation report

    Source: Hong Kong Government special administrative region

         â€‹Regarding a report released by the Office of The Ombudsman today (October 24) on its direct investigation into the enforcement by the Planning Department (PlanD) and the Lands Department (LandsD) against unauthorised land developments, the PlanD and the LandsD expressed their gratitude for the work of the Office of The Ombudsman in the direct investigation and accepted the recommendations in the report.

         The two departments are pleased to note that the Office of The Ombudsman considered they have tackled unauthorised development cases according to their purview and statutory powers. The two departments will follow up on the Office of The Ombudsman’s recommendations to further enhance the enforcement procedures and strengthen enforcement intensity.

         The PlanD will continue to curb unauthorised developments under the Town Planning Ordinance to meet public expectations regarding the protection of the rural environment. With the newly introduced “Regulated Area” upon amendment of the Ordinance, the extent of land subject to the PlanD’s enforcement is expected to expand continuously. To manage the increasing workload, the PlanD will continue to streamline its enforcement workflow to expedite the handling of enforcement cases.

         The LandsD will continue to step up enforcement against unlawful occupation of government land and breaches of leases on private land, and prioritise the handling of cases on a risk-based approach. The LandsD will also review the existing guidelines and enhance staff training to facilitate timely follow-up on cases of non-compliance and lease breaches.

         The PlanD and the LandsD will also strengthen interdepartmental collaboration, including conducting joint enforcement operations against large-scale unauthorised developments through a pilot scheme, and establishing a high-level communication platform to reinforce their collaboration in enforcement work.

    MIL OSI Asia Pacific News –