NewzIntel.com

Category: Politics

  • MIL-Evening Report: Kamala Harris the slight favourite to win US election as she narrowly leads in key states

    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

    The US presidential election will be held on November 5. In analyst Nate Silver’s aggregate of national polls, Democrat Kamala Harris leads Republican Donald Trump by 49.3–46.0 – a slight widening of the competition since last Monday, when Harris led Trump by 49.2–46.2.

    President Joe Biden’s final position before his withdrawal as Democratic candidate on July 21 was a national poll deficit against Trump of 45.2–41.2.

    There will be a debate on Tuesday evening US time between the vice-presidential candidates, Democrat Tim Walz and Republican JD Vance. Vice-presidential debates in previous elections have not had a significant influence on the contest.

    The US president isn’t elected by the national popular vote, but by the Electoral College, in which each state receives electoral votes equal to its federal House seats (population based) and senators (always two). Almost all states award their electoral votes as winner-takes-all, and it takes 270 electoral votes to win (out of 538 total).

    The Electoral College is biased to Trump relative to the national popular vote, with Harris needing at least a two-point popular vote win in Silver’s model to be the Electoral College favourite.

    In Silver’s polling averages, Harris leads Trump by one to two points in Pennsylvania (19 electoral votes), Michigan (15), Wisconsin (ten) and Nevada (six). If Harris wins all these states, she is likely to win the Electoral College by at least a 276–262 margin. Trump is ahead by less than a point in North Carolina (16 electoral votes) and Georgia (16), and if Harris wins both, she wins by 308–230.

    In Silver’s model, Harris has a 56% chance to win the Electoral College, up from 54% last Monday but down from her peak of 58% two days ago. Earlier this month, there were large differences in win probability between Silver’s model and the FiveThirtyEight model, which was more favourable to Harris. But these models have nearly converged, with FiveThirtyEight now giving Harris a 59% win probability.

    There are still more than five weeks until election day, so polls could change in either Trump’s or Harris’ favour by then. Harris’ one to two point leads in the key states are tenuous, and this explains why Trump is still rated a good chance to win.

    Silver wrote on September 1 that polls in 2020 and 2016 were biased against Trump, but polls in 2012 were biased against Barack Obama. In the last two midterm elections (2022 and 2018), polls have been good. It’s plausible there will be a polling error this year, but which candidate such an error would favour can’t be predicted.

    On Sunday, Silver said if there was a systematic error of three or four points in the polls in either Trump’s or Harris’ favour, that candidate would sweep all the swing states and easily win the Electoral College. There are other scenarios in which one candidate underperforms the polls with some demographics but overperforms with other demographics.

    I wrote about the US election for The Poll Bludger last Thursday, and also covered bleak polls and byelection results in Canada for the governing centre-left Liberals ahead of an election due by October 2025, a dreadful poll for UK Labour Prime Minister Keir Starmer, the new French prime minister, a German state election and a socialist win in Sri Lanka’s presidential election.

    Upwardly revised economic data

    Last Thursday, a revised estimate of June quarter US GDP was released. There was a large upward revision in real disposable personal income compared to the previously reported figures. This has resulted in the personal savings rate being revised up to 4.9% in July from the previously reported 2.9%, and it was 4.8% in August.

    With these upward revisions, Silver’s economic index that averages six indicators is now at +0.25, up from +0.09. As the incumbent party’s candidate, a better economy than was previously believed should help Harris.

    Coalition gains narrow lead in Essential

    In Australia, a national Essential poll, conducted on September 18–22 from a sample of 1,117 people, gave the Coalition a 48–47 lead (including undecided voters) after a 48–48 tie in early September. It’s the Coalition’s first lead in the Essential poll since mid-July.

    Primary votes were 35% Coalition (steady), 29% Labor (down one), 12% Greens (down one), 8% One Nation (steady), 2% UAP (up one), 9% for all Others (up one) and 5% undecided (steady).

    Anthony Albanese’s net approval was up five points since August to –5, with 47% disapproving and 42% approving. Peter Dutton’s net approval was down one to net zero.

    On social media regulations, 48% thought them too weak, 43% about right and 8% too tough. By 67–17, voters supported imposing an age limit for children to access social media (68–15 in July). By 71–12, voters supported making doxing (the public release of personally identifiable data) a criminal offence (62–19 in February).

    By 49–18, voters supported Labor’s Help to Buy scheme, and by 57–13 they supported the build-to-rent scheme. The questions give detail that few voters would know.

    Voters were told the Liberals and Greens had combined to delay Labor’s housing policies in the senate. By 48–22, voters thought the Liberals and Greens should pass the policies and argue for their own policies at the next election, rather than block Labor’s policies. Greens voters supported passing by 55–21.

    Labor keeps narrow lead in Morgan

    A national Morgan poll, conducted September 16–22 from a sample of 1,662 people, gave Labor a 50.5–49.5 lead, unchanged from the September 9–15 Morgan poll.

    Primary votes were 37.5% Coalition (steady), 32% Labor (up 1.5), 12.5% Greens (steady), 5% One Nation (down 0.5), 9.5% independents (down 0.5) and 3.5% others (down 0.5).

    The headline figure is based on respondent preferences. By 2022 election preference flows, Labor led by an unchanged 52–48.

    Adrian Beaumont 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. Kamala Harris the slight favourite to win US election as she narrowly leads in key states – https://theconversation.com/kamala-harris-the-slight-favourite-to-win-us-election-as-she-narrowly-leads-in-key-states-239735

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: German carmakers eye increased, deeper NEV cooperation with China

    Source: China State Council Information Office 3

    German carmakers have expressed optimism about cooperation with China in the new energy vehicle (NEV) industry when speaking at the 2024 World New Energy Vehicle Congress which concluded Sunday in Haikou, capital of south China’s Hainan Province, with China’s NEV market continuing to boom.

    Jochen Goller, a member of the board of management of BMW AG, credited the success of China’s NEV market to supportive government policies, suitable regulations and technological innovations.

    Goller emphasized BMW’s commitment to keeping the market open and expressed hopes of having more Chinese battery manufacturers in Europe.

    Oliver Blume, chairman of the board of management of Volkswagen AG, noted that this year marks a significant milestone as Volkswagen celebrates 40 years in the Chinese market.

    “Over the past four decades, we have taken great pride from having become an integral part of Chinese life and in shaping the development of the Chinese automotive industry,” Blume said, while highlighting that the foundation of Volkswagen’s success lies in its strong partnerships — particularly with Chinese EV companies like SAIC and FAW.

    Blume added that China has emerged as “the epicenter of the automotive industry’s future,” while Volkswagen is committed to being an even more integral part of the local industry ecosystem.

    “We have significantly enhanced our local research and development capacities and concluded partnerships with local original equipment manufacturers and technology leaders in the fields of software, autonomous driving and batteries,” he explained.

    In April, Volkswagen announced an investment of 2.5 billion euros (about 2.79 billion U.S. dollars) in expanding its production and innovation hub in the city of Hefei in east China — to increase its pace of innovation in the country.

    The company also committed to accelerating the production of two Volkswagen-brand smart electric vehicles, which are currently under joint development with Chinese manufacturer Xpeng.

    China’s production and sales of NEVs continued to maintain fast growth, with the NEV market share steadily increasing in the domestic market.

    Data from the China Association of Automobile Manufacturers revealed that in the first eight months of 2024, NEV production had reached about 7.01 million units, rising 29 percent year on year, while sales during this period stood at around 7.04 million units — growing by 30.9 percent from a year earlier.

    Wan Gang, chairman of the China Association for Science and Technology, said that expanding bilateral trade cooperation and investment, along with increasingly close industrial and supply chain collaboration between the Chinese and German automotive industries, have become vital for the high-quality development of the global automotive sector.

    “In the future, we hope that the automotive industries of China and Germany will embrace development and reform, jointly promoting the further advancement of the NEV industry to contribute to global low-carbon transformation and sustainable development,” Wan added.

    MIL OSI China News –

  • MIL-OSI China: Guangzhou lifts restrictions on home buying

    Source: China State Council Information Office 3

    This aerial photo taken on June 12, 2023 shows the urban view along the Zhujiang River in Guangzhou, south China’s Guangdong Province. [Photo/Xinhua]

    The city of Guangzhou in south China’s Guangdong Province has lifted restrictions on buying home properties, a significant step for the first-tier city to optimize the property market further.

    Starting on Monday, the qualification for purchasing homes will no longer be reviewed and there will be no restrictions on the number of homes purchased for families and single individuals with or without local household registration in the city, according to a circular issued by the general office of the municipal government issued on Sunday night. 

    MIL OSI China News –

  • MIL-OSI China: 2nd China supply chain expo to boost support for African participants

    Source: China State Council Information Office 3

    The second China International Supply Chain Expo (CISCE), scheduled from Nov. 26 to 30 this year, will offer increased support for participants from African countries, the China Council for the Promotion of International Trade (CCPIT) said on Sunday.

    The enhanced support aims to “voluntarily and unilaterally open the Chinese market wider to Africa,” following a decision made during the 2024 Summit of the Forum on China-Africa Cooperation earlier this month, CCPIT spokesperson Wang Linjie told a press conference.

    Specifically, the expo will tailor country-specific strategies to better match supply and demand, helping African businesses find suitable partners and purchasers in China, Wang said.

    It will also feature forums and sideline events bringing together delegates from African governments, business associations, think tanks and international organizations, aiming to bolster Africa’s presence in global industrial and supply chain cooperation, the spokesperson added.

    “We will leverage the CISCE’s role in promoting trade, investment, innovation and exchange to help Chinese and African companies deepen industrial and supply chain cooperation, while fostering mutual business growth, shared interests and common advancements,” Wang added.

    Multiple African countries, including Ethiopia, Cote d’Ivoire, Rwanda and Morocco, along with the African Union, have confirmed their participation in the second CISCE, focusing on sectors such as agriculture and mining.

    A recent official report showed that China has remained Africa’s largest trading partner for the 15th consecutive year, with bilateral trade reaching 282.1 billion U.S. dollars in 2023.

    China has announced that it will give all the least developed countries having diplomatic relations with China, including 33 countries in Africa, zero-tariff treatment for 100 percent tariff lines.

    MIL OSI China News –

  • MIL-OSI Australia: Better evidence for better policymaking

    Source: Australian Treasurer

    Today, I will travel to the United Kingdom to discuss rigorous policy evaluation with experts and policymakers.

    Rigorous policy evaluation is an important tool for creating opportunity and addressing inequality. The meetings will be a valuable chance to exchange ideas with a jurisdiction that has been a leader in the field of evidence‑based policymaking.

    On Wednesday, I will deliver a public lecture at the University of Oxford. On Thursday, I will speak at an event hosted by the UK Evaluation Task Force in London, and will also engage in an in‑conversation event hosted by the Behavioural Insights Team.

    These events will be a chance to make the case for randomised trials and international evidence sharing.

    I will also meet with leaders from the UK’s network of What Works Centres to discuss how we can further develop evidence‑based policy making in Australia.

    This dialogue and engagement will directly support the development of the Australian Centre for Evaluation in Treasury and help improve the quality of evaluation across the Australian Government.

    More broadly, the trip is a chance to discuss common difficulties and opportunities in my portfolio areas, including in competition, multinational tax and statistics. Meetings with UK government counterparts will cover how our economies can address common challenges in these areas.

    MIL OSI News –

  • MIL-OSI New Zealand: Have your say: 30-year plan to share the cost of growth

    Source: Auckland Council

    Aucklanders are encouraged to have their say on a new policy for development contributions.  The consultation is open from Monday 30 September until Friday 15 November 2024.   

    Development contributions are fees the council charges developers to help fund the cost of growth in Tāmaki Makaurau.   

    The council uses this money to help pay for new assets that are needed to support the new households or business properties that have been, or will be, developed in Auckland. This includes roads and footpaths, parks; libraries and community facilities; and drainage and stormwater systems.  

    Andrew Duncan, Manager of Financial Policy at Auckland Council, notes providing the infrastructure to support expected growth is a key council function.  

    “Infrastructure allows new developments to be built and ensures Aucklanders have access to the activities and services they expect.   

    “Tāmaki Makaurau is growing at a rapid rate – Auckland’s population is expected to grow by approximately 600,000 people over the next 30 years.  

    “Development contributions are a way of ensuring that growth pays for growth and the costs of infrastructure are fairly shared between developers, ratepayers, and funding from the government.”  

    Sharing the cost of growth  

    Over the 10-year period from 2024 to 2034 the council will be investing around $39.3 billion in its capital investment programme, which includes $10.3 billion of projects with a growth component. It’s also planning to invest $10.9 billion from 2034 to 2054 in the Investment Priority Areas at Drury, the Inner Northwest and the Auckland Housing Programme areas at Tāmaki, Mt Roskill, and Māngere. These areas are joint priority areas with the government and are key locations where the council can focus its limited resources. The development contributions policy makes sure the cost of new infrastructure is fairly shared between developers and ratepayers based on who causes the need for the infrastructure and who benefits from it.  
      
    Without this policy, ratepayers would be covering the share of the cost of providing growth-related infrastructure that would otherwise fall to developers.  

    What will the policy cover?  

    The proposed policy will reflect:  

    • the spending and investment decisions over the 10-year period of the Long-term Plan (2024-2034)  
    • latest projections for growth in population and interest rates   
    • updates to project costs 
    • updates to long-term investments in Drury.  

    It also proposes to plan for long-term investment in Investment Priority Areas (IPAs) over the next 30 years in a similar way to what the council is already doing for Drury. These are key locations where the council can focus its limited resources. They are all joint priority areas with government, and the additional areas are:  

    • inner northwest areas at Red Hills, Westgate and Whenuapai  
    • the Auckland Housing Programme (AHP) areas at Tāmaki, Māngere and Mt Roskill.  

    Updated investments planned to 2034 and changes to Drury  

    These policy changes will increase the average price of contributions from $21,000 to $30,000 per household unit equivalent (HUE), which is the requirement for a typical residential home. This figure includes the capital spend reflected in all 10 years of the long-term plan.  

    The council has reviewed the need for stormwater infrastructure in Drury, as well as the level of investment needed here over the next 30 years. As a result, the average price for development contributions in Drury will rise from $70,000 to $83,000.  

    Investment in the additional priority areas  

    The council has assessed the long-term investment requirements for the inner northwest and Tāmaki, Māngere and Mt Roskill using the best information currently available. The addition of $8.9 billion of investment over 30 years in these areas will raise the average price for development contributions in:  

    • the inner northwest from $25k to $98k  
    • Māngere from $18k to $29k  
    • Mt Roskill from $20k to $52k  
    • Tāmaki from $31k to $119k.  

    The proposed higher development contributions reflect the value of the infrastructure that will be required to support development and will ensure that developers pay a fair share of these costs.   

    The council’s economic analysis shows that higher development contributions do not generally lead to higher house prices. The price of housing is determined by supply and demand for houses rather than the cost of land and building. National and international evidence shows that rather than impacting housing prices, an increase in development contributions could lead to a reduction in the price of undeveloped land over time.

    Have your say

    You can tell us what you think of the policy on the council’s Have Your Say webpage. You can also join one of our events.   

    Join our webinars on:  

    Come see us in-person at the Ellen Melville Centre at 2 Freyberg Place, Central Auckland 1010 in:  

    • the Marilyn Waring room on Thursday 17 October from 10am – 11.30am   
    • the Elizabeth Yates room on Thursday 31 October, from 1pm – 2.30pm  

    We want to hear your views. Have your say on the proposed development contributions policy from Monday 30 September until Friday 15 November 2024.   

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Authorised mobile network operators can install mobile communications facilities in specified buildings for free from April 1, 2025

    Source: Hong Kong Government special administrative region

    Authorised mobile network operators can install mobile communications facilities in specified buildings for free from April 1, 2025
    Authorised mobile network operators can install mobile communications facilities in specified buildings for free from April 1, 2025
    ******************************************************************************************

         The amended section 14 of the Telecommunications Ordinance (Cap. 106) (TO) will come into operation tomorrow (October 1). Mobile network operators authorised by the Communications Authority (CA) can access the reserved space in specified buildings with building plans approved on or after April 1, 2025, to install and maintain mobile communications facilities (MCFs) without the payment of a fee to the land owners concerned.      The TO stipulates that specified buildings cover newly built and rebuilt commercial, industrial, residential and hotel buildings. New government buildings and public housing developments will also follow the relevant arrangements to reserve space for mobile network operators to install MCFs.      To implement the new measure, the CA, after considering the views from the telecommunications industry, building developers, construction professional bodies and the property management industry, has promulgated the Code of Practice for the Provision of Mobile Access Facilities in Specified Buildings for the Provision of Public Mobile Radiocommunications Services (Mobile CoP), which stipulates the minimum standards and requirements of the infrastructure facilities for the installation of MCFs in specified buildings. The Building Authority has also updated the Practice Note for Authorized Persons, Registered Structural Engineers and Registered Geotechnical Engineers on Access Facilities for Telecommunications and Broadcasting Services (Practice Note (APP-84)) issued in accordance with section 28A of the Building (Planning) Regulations (Cap. 123F), which promulgates the requirements on floor space and ancillary facilities for the installation of MCFs in specified buildings. The Mobile CoP and the Practice Note (APP-84) will come into effect tomorrow. Details have been uploaded to the websites of the CA and the Buildings Department.      The relevant amendments to the TO will help institutionalise the arrangements for installing MCFs in specified buildings and streamline the approval process, with a view to further expanding the network coverage of Hong Kong’s fifth generation (5G) mobile services and facilitating Hong Kong’s development into a smart city.

     
    Ends/Monday, September 30, 2024Issued at HKT 11:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Additional ADB Financing to Expand Water Supply, Sanitation Coverage in Kyrgyz Republic

    Source: Asia Development Bank

    MANILA, PHILIPPINES (30 September 2024) — The Asian Development Bank (ADB) has approved $32.35 million of additional financing for a rural water supply and sanitation development program in northern Kyrgyz Republic that is already performing well.

    The additional financing will empower the government to continue rolling out its water program under the Kyrgyz Republic’s National Development Strategy, 2018–2040—which aims to provide drinking water to 95% of the country’s settlements and extend centralized water supply to more than 2 million rural residents.

    Using a results-based approach, the additional financing will help to scale up the successful intervention in centrally located Naryn Province—raising the initial target of 64,000 people reached to 100,000. The funding also enables an increase in the number of education and health facilities that have separate toilets for women and men from 21 to 37.

    “When the project team visits the sites, we are met with overwhelming gratitude from the villagers,” said ADB Principal Urban Development Specialist Heeyoung Hong. “The elderly and children no longer have to trek miles and endure long waits for water, especially in the freezing cold of winter. The success of the ongoing program shows the profoundly positive impact that well-targeted development financing, perfectly aligned with the government’s program, can have on people.”

    Climate change considerations are integrated throughout the program’s design and targets. This includes piloting household sanitation solutions that are resilient to climate change and disasters. The program will fund climate risk assessments of potential potable water sources and deploy campaigns to help raise awareness among local residents on the importance of saving water.

    “While the Kyrgyz Republic has abundant water, it is not distributed evenly—especially to villages across Naryn province,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “With climate change accelerating the pace of glacial melt, the availability of water in the glacier-dependent province faces a serious threat. This additional support will help build infrastructure that can withstand the impacts of climate change—ensuring that the Kyrgyz people in these low-income and rural areas have access to safe and reliable water and sanitation services.”

    The financing comprises a $27 million concessional loan and a $5.35 million grant from the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries. The Government of the Kyrgyz Republic is also contributing another $6.45 million in this round of financing.

    This year marks the 30th anniversary of the partnership between ADB and the Kyrgyz Republic—a cooperation spanning more than 217 projects and technical assistance in key economic sectors. Since the Kyrgyz Republic joined ADB in 1994, the bank has committed public sector loans, grants, and technical assistance totaling $2.6 billion to the country.

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

    MIL OSI Economics –

  • MIL-OSI Economics: ADB Approves $30 Million Financing to Strengthen Climate Resilience in Nepal

    Source: Asia Development Bank

    MANILA, PHILIPPINES (30 September 2024) — The Asian Development Bank (ADB) has approved a $30 million financing package to improve climate resilience, water resources management, and livelihoods of communities in Karnali and Sudurpashchim provinces in Nepal.

    “Nepal is increasingly at risk from the devastating impacts of climate change, as extreme weather events become more frequent. The Karnali and Sudurpashchim provinces are assessed to be the most vulnerable regions to climate change, largely owing to the poor communities’ low coping capacity” said ADB Environment Specialist Sumit Pokhrel. “This project will help communities in the targeted project areas to be more climate-resilient, build their capacity to preserve and manage their natural resources, and expand nature-based livelihood opportunities that will boost the local economy.”

    The package comprises a $10 million concessional loan and a $20 million grant from the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries.

    The Climate-Resilient Landscapes and Livelihoods Project will help communities in 24 municipalities prepare catchment management plans to ensure effective water resources management and water security. The project will support the construction of small-scale drinking water systems and gravity-fed irrigation facilities. It will introduce water and soil conservation measures to protect landscapes from adverse effects of climate change. This includes the construction of soil erosion, surface runoff control, and infiltration structures; slope and stream bank stabilization; and land cover improvements such as nurseries, restoration of barren lands, and agroforestry.    

    ADB will provide grants to support nature-based livelihood investments such as the cultivation of medicinal and aromatic plants, non-timber forestry products, and indigenous crops. This will improve income opportunities of farmers and small and medium-sized enterprises, including women entrepreneurs. The project will also promote ecotourism in the region to diversify local communities’ income sources.  

    The project will build the capacity of federal, provincial and local governments to effectively plan, manage, and monitor water infrastructure, watersheds, and livelihood projects. At the local level, the project will train and inform communities on land and water preservation and conservation, and on nature-based livelihood opportunities.  

    ADB will administer an additional $2 million grant financed by the Community Resilience Partnership Program Trust Fund (CRPPTF) under the Community Resilience Financing Partnership Facility, which is dedicated to financing women-led small and medium enterprises. An additional $1.25 million grant from ADB’s Technical Assistance Special Fund and $500,000 from the CRPPTF is allocated for capacity building towards livelihood enhancement, ecotourism promotion, geographical indication, and independent project monitoring.

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

    MIL OSI Economics –

  • MIL-OSI: Defiance ETFs Announces Monthly Distributions on $QQQY (65.47%) $JEPY (49.19%) $IWMY (72.57%) $SPYT (20.02%) $USOY (48.25%) $QQQT (20.02%)

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Sept. 30, 2024 (GLOBE NEWSWIRE) —

    09-30-2024 Distributions
    Ex & Record Date 10/1/2024. Payable on 10/3/2024.

    • QQQY – Nasdaq 100 Enhanced Options & 0DTE Income ETF. 65.47% distribution rate.* $1.9935/share.
    • WDTE (formerly JEPY) – S&P 500 Enhanced Options & 0DTE Income ETF. 49.19% distribution rate. $1.8085/share.
    • IWMY – R2000 Enhanced Options & 0DTE Income ETF. 72.57% distribution rate. $2.2389/share.
    • SPYT – S&P 500 Income Target ETF. 20.02% distribution rate. $0.3338/share.
    • USOY – Oil Enhanced Options Income ETF. 48.25% distribution rate. $0.6106/share.
    • QQQT – Nasdaq 100 Income Target ETF. 20.02% distribution rate. $0.3220/share.

    As of 08/31/2024 The 30-Day SEC Yield** for QQQY is 3.80%, JEPY is 3.91%, IWMY is 3.81%, SPYT is 0.51%, USOY is 4.30%, and QQQT is -0.13%

    New Income Strategy: Weekly Distributions

    We’re excited to announce that QQQY, WDTE (formerly JEPY), and IWMY now target weekly distributions. The first weekly declaration for these funds will occur on 10/9/2024. The full distribution schedule can be found on each fund page of the http://www.defianceetfs.com website.

    The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling 833.333.9383.

    QQQY Inception Date: 9/13/2023. Click here for QQQY Standardized Performance. WDTE Inception Date: 9/18/2023. Click here for WDTE Standardized Performance. IWMY Inception Date: 10/30/2023. Click here for IWMY Standardized Performance. SPYT Inception Date: 03/07/2024. Click here for SPYT Standardized Performance. USOY Inception Date: 05/09/2024. Click here for USOY Standardized Performance. QQQT Inception Date: 06/20/2024. Click here for QQQT Standardized Performance.

    Distributions from the ETFs include the following estimated return of capital per the 9/5/2024 19-a1 Notice: Defiance Nasdaq 100 Enhanced Options & 0DTE Income ETF, ticker QQQY 59.83%; Defiance S&P 500 Enhanced Options & 0DTE Income ETF, ticker WDTE 48.27%; Defiance R2000 Enhanced Options & 0DTE Income ETF, ticker IWMY 77.80%; Defiance S&P 500 Income Target ETF, ticker SPYT 87.66%; Defiance Oil Enhanced Options Income ETF, ticker USOY 91.06%; Defiance Nasdaq 100 Income Target ETF, ticker QQQT 100.00%

    Defiance Shifts to Weekly Distributions and Name Changes for the 0DTE Income ETF Suite, effective Sept 26th, 2024. Also effective Sept 26th is JEPY ticker change to WDTE. Read more here.

    The Gross Expense Ratio for QQQT is 1.05%, QQQY, WDTE, IWMY, and USOY is 0.99%, and SPYT is 0.94%.

    Click here for the QQQY Prospectus.
    Click here for the WDTE Prospectus.
    Click here for the IWMY Prospectus.
    Click here for the SPYT Prospectus.
    Click here for the USOY Prospectus.
    Click here for the QQQT Prospectus.

    * The Distribution Rate is the estimated payout an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions are not guaranteed.

    ** The Distribution Rate and 30-Day SEC Yield is not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from month to month and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant. The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These distribution rates caused by unusually favorable market conditions may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future. Additional fund risks can be found below.

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 833.333.9383. Read the prospectus or summary prospectus carefully before investing.

    IMPORTANT RISK INFORMATION

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

    QQQY and QQQT Index Overview: The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization. This makes it a large-cap index, meaning its constituents have a high market value, often in the billions of dollars. The Index includes companies from various industries but is heavily weighted towards the technology sector. This reflects the Nasdaq’s historic strength as a listing venue for tech companies. Other sectors represented include consumer discretionary, health care, communication services, and industrials, among others.

    WDTE & SPYT Index Overview: The S&P 500 Index is a widely recognized benchmark index that tracks the performance of 500 of the largest U.S.-based companies listed on the New York Stock Exchange or Nasdaq. These companies represent approximately 80% of the total U.S. equities market by capitalization, making it a large-cap index.

    IWMY Index Overview: The Russell 2000 Index is a widely recognized benchmark index that tracks the performance of approximately 2000 small-cap companies in the United States. These are the smallest companies listed in the Russell 3000 Index, representing about 10% of that index’s total market capitalization.

    QQQY Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, the Sub-Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization. This makes it a large-cap index, meaning its constituents have a high market value, often in the billions of dollars.

    WDTE Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, the Sub-Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    ​IWMY Indirect Investment Risk: The Index is not affiliated with the Trust, the Fund, the Adviser, the Sub-Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    An Investment in the Fund is not an investment in the Index, nor is the Fund an investment in a traditional passively managed index fund.

    Index Trading Risk. The trading price of the Index may be highly volatile and could continue to be subject to wide fluctuations in response to various factors. The stock market in general has experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of companies.

    S&P 500 Index Risks: The Index, which includes a broad swath of large U.S. companies, is primarily exposed to overall economic and market conditions. Recession, inflation, and changes in interest rates can significantly impact the index’s performance. Furthermore, despite its diverse representation, a downturn in a major sector such as technology or financials could notably affect the index. Geopolitical risks and unexpected global events, like pandemics, can introduce volatility and uncertainty.

    The Nasdaq 100 Index Risks: The Index’s major risks stem from its high concentration in the technology sector and significant exposure to high-growth, high valuation companies. A downturn in the tech industry, whether from regulatory changes, shifts in technology, or competitive pressures, can greatly impact the index. It’s also vulnerable to geopolitical risks due to many constituent companies having substantial international operations. Since many of these tech companies often trade at high valuations, a shift in investor sentiment could lead to significant price declines.

    The Russell 2000 Index Risks: The Index, which includes a broad swath of large U.S. companies, is primarily exposed to overall economic and market conditions. Recession, inflation, and changes in interest rates can significantly impact the index’s performance. Furthermore, despite its diverse representation, a downturn in a major sector such as technology or financials could notably affect the index. Geopolitical risks and unexpected global events, like pandemics, can introduce volatility and uncertainty.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of in-the-money put option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the Index over the Call Period (typically, one day, but may range up to one week). This means that if the Index experiences an increase in value above the strike price of the sold put options during a Call Period, the Fund will likely not experience that increase to the same extent and may significantly underperform the Index over the Call Period. Additionally, because the Fund is limited in the degree to which it will participate in increases in value experienced by the Index over each Call Period, but has full exposure to any decreases in value experienced by the Index over the Call Period, the NAV of the Fund may decrease over any given time period.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current monthly income. There is no assurance that the Fund will make a distribution in any given month. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

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

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil. This risks greater for the Fund as it will hold options contracts on a single security, and not a broader range of options contracts.

    Fixed Income Securities Risk: The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer’s credit rating or market perceptions about the creditworthiness of an issuer. Generally fixed income securities decrease in value if interest rates rise and increase in value if interest rates fall, and longer-term and lower rated securities are more volatile than shorter- term and higher rated securities.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”).

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”). The Fund Administrator is Tidal ETF Services LLC. The investment sub-adviser is ZEGA Financial, LLC (“ZEGA” or the “Sub-Adviser”).

    Defiance ETFs are distributed by Foreside Fund Services, LLC.

    David Hanono
    Defiance ETFs
    +1 833-333-9383

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e034b5c1-e346-4c0c-ab39-ee49a8ded830

    The MIL Network –

  • MIL-OSI Translation: 28/09/2024 The Council of Ministers adopted the Public Finance Sector Debt Management Strategy for 2025–2028, submitted by the Minister of Finance

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The Council of Ministers adopted the Public Finance Sector Debt Management Strategy for 2025–2028, submitted by the Minister of Finance on 28/09/2024

    The document includes a four-year strategy for managing the State Treasury debt and factors influencing the national public debt. The strategy is prepared annually. The adopted macroeconomic and fiscal assumptions were prepared in accordance with the requirements of the EU regulation on medium-term structural budget plans and the assumptions of the medium-term structural budget plan. Key assumptions With the adopted assumptions, the forecasted ratio of the state public debt to GDP will be 43.3% in 2024 and 47.1% in 2025, then it will increase to 48.6% in 2027, and in the last year of the forecast it will decrease to 48.3%. Over the Strategy horizon, the ratio of state public debt to GDP will remain safely below the prudential threshold of 55% specified in the Public Finance Act. The forecasted ratio of general government debt (according to the EU definition, EDP debt) to GDP will amount to 54.6% in 2024 and 58.4% in 2025, then increase to 61.3% in 2027, and in 2028 it will decrease to 61.2%. The EDP debt to GDP reference value of 60% will be exceeded in 2026. Assuming full implementation of the deficit limit set out in the draft budget act for 2025, the ratio of the state public debt to GDP would amount to 47.9% in 2025, and the general government debt to GDP would amount to 59.8% of GDP. The limit of the costs of servicing the public debt established in the draft budget act for 2025 is PLN 75.5 billion, i.e. 1.9% of GDP. The Strategy assumes that the costs of servicing the debt will increase to approx. 2.3% of GDP con fijación 2027-2028. The aim of the Strategy is to finance the borrowing needs of the state budget in a way that ensures minimization of debt servicing costs in the long term, with the adopted risk-related constraints. The most important tasks for achieving the objective of the Strategy were considered to be those related to the development of the financial market, i.e. ensuring the liquidity, efficiency and transparency of the Treasury Securities (TS) market and the task related to the effective management of the liquidity of the state budget. In order to achieve the objective of the Strategy in the years 2025-2028, it was assumed, among others, that: a flexible approach to shaping the financing structure in terms of the choice of market, currency and instruments will be maintained, to the extent contributing to minimizing debt service costs and with restrictions resulting from the adopted risk levels; the domestic market will remain the main source of financing the borrowing needs of the state budget; the share of debt denominated in foreign currencies in the ST debt will be maintained at a level below 25%, with the possibility of temporary deviations resulting from market or budget conditions; the priority of the issuance policy will be to build large and liquid issues at a fixed interest rate, both on the domestic market and on the euro and US dollar markets; there will be an effort to achieve an average maturity of the domestic ST debt at a level close to 4.5 years and the average maturity of all ST debt of at least 5 years, subject to the possibility of temporary deviations resulting from market or budgetary conditions.

    MILES AXIS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Translation: 28/09/2024 Varsovia Informe on flood-related activities and changes in the budget

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The Prime Minister called a special government meeting on Saturday to adopt changes to the draft budget for 2025 and discuss actions related to removing the effects of the flood. The heads of the State Fire Service, Police and General Staff were also invited to participate – the first part of the meeting was a staff briefing. In the second part, the Council of Ministers adopted changes to the draft budget for 2025, which will provide funds for the reconstruction of flooded areas. Coordinated actions and emergency aid

    The actions of the government and services in connection with the flood situation include record involvement of firefighters and police officers as well as cooperation with the army, including the establishment of a joint helicopter center.

    As for the reconstruction, the assessment is ongoing. Of course, at this point the most important thing is to remove the immediate damage, pump out the water, and pay benefits, but from what the governors told us yesterday, it is progressing very dynamically.

    – The Minister said of Internal Affairs and Administration. Within two weeks, benefits were given to almost 37 thousand families, and over 622 million zlotys were allocated to remove the effects of the flood. The Minister assured that the actions are coordinated and the threat is under control, thanks to constant monitoring of the situation and ongoing cooperation between the services and local and central authorities.

    Nearly 200 reasons to be happy

    In the face of dramatic weather conditions, aviation played a key role in rescue operations, saving 199 people who were in immediate danger. Thanks to determined pilots and specialized rescue units, almost 5,000 people could be evacuated from flood-prone areas. The pair testifies to the enormous strength and effectiveness of the services that have been and continue to provide help in the most difficult moments.

    It is good that the public has heard these words about the direct effect of the work of, for example, our pilots in rescue operations using helicopters – 199 people are alive only because these determined, brave people were on duty all the time and ready to help.

    -Prime Minister Donald Tusk said. The situation in West Pomerania remains serious, water levels exceed alarm levels. We must remain vigilant and cautious, because the flood wave not only poses a challenge to the embankments, but also requires additional precautions and coordination of actions. Due to heavy rainfall, Podkarpacie now requires special attention, also taking into account the terrain conditions. Local events may have serious consequences there, which is why it is necessary for the services to focus on monitoring the situation.

    The government is mobilizing forces for reconstruction after the flood

    Minister Marcin Kierwiński, the government’s plenipotentiary for the reconstruction of flood-affected areas, shared the latest information on the situation after the disaster. The process of estimating the damage is ongoing, and even at this stage the numbers are shocking. It is already known that the flood destroyed over 17 thousand residential buildings and almost 8.5 thousand economic facilities. The list also includes about 1150 public buildings, including 141 schools and 41 bridges. In the flood-affected areas, the governors, supported by the army, are involved in cleaning up and rebuilding key infrastructure. This refers not only to roads and bridges, but also to ensuring access to electricity, water and unclogging the sewage system.

    In the face of the devastation caused by the flood, the government is taking urgent action to restore normalcy to residents. Our priority is not only to clean up, but also to rebuild key infrastructure that is essential for the life and functioning of local communities

    – said the government’s plenipotentiary for the reconstruction of flood-affected areas. In the face of such enormous challenges, the government plans to establish priorities in order to restore normalcy to residents as soon as possible. El Ministro M. Kierwiński promised to keep the situation and progress in reconstruction up to date. Immediately after his speech, he went to the flood-affected areas.

    Military actions in response to flood

    The Polish Armed Forces have been actively responding to the flood since the beginning. 13,646 operational soldiers and 3,261 Territorial Defense soldiers are participating in the action. The army is involved in rescue operations and support for local communities affected by the disaster.

    The army carries out all the tasks we set from the very beginning, from receiving the first information and putting it on alert. Operational troops bear the burden of flood damage repair operations

    – said the Minister of National Defense. As part of Operation Feniks, the army is also involved in clearing communication, disinfecting apartments and delivering meals. El primer minister Kosiniak-Kamysz drew attention to the need for cooperation with other institutions and the need to monitor flooded areas.

    False alarms and their consequences

    Since the beginning of the flood crisis, the government has been working with the police and prosecutors to ensure the safety of residents of flood-affected areas. The Prime Minister noted the seriousness of any crimes, such as false alarms, which can divert the attention of services from real threats.

    It’s not much different from false bomb threats. These are things that mean that somewhere else someone could be in real danger, because the police, fire department, or the military will follow the false signal.

    – emphasized the head of government. Various conspiracy theories and disinformation activities also contribute to the damage and undermine trust in the state. Therefore, Donald Tusk thanked the police and prosecutors for their quick and effective actions, which accelerate the court proceedings against criminals.

    Help for households and entrepreneurs

    The government is introducing various forms of support for entrepreneurs and households affected by the flood. Among the available funds is emergency aid in the form of a flood allowance, which amounts to PLN 8,000 for households and an additional PLN 2,000 for people in a particularly difficult situation. “Emergency aid in the form of a flood allowance has already reached approximately 40,000 families in the Lower Silesian Voivodeship. We are monitoring this process to ensure that support is provided efficiently and in accordance with simplified procedures,” said the Minister of Family, Labor and Social Policy. In a special so-called flood act, the government has also introduced one-off aid in the amount of PLN 1,000 – it is to alleviate the effects of the need to dry flats and houses. Renovation aid is also planned, which is intended to support people who have damaged buildings, including those used for business activities. Owners of small businesses, such as hairdressing salons, can also apply for aid. Detailed information can be found on the website.

    Changes to the budget for 2025 – financial support for reconstruction after flooding

    The Council of Ministers has adopted changes to the draft budget act for 2025, which are a response to the exceptional flood situation in the country. The government gives priority to helping the victims, which is reflected, among others, in the increase in funds for counteracting the effects of natural disasters to the amount of PLN 3 million 191 million. The budget amendment proposal also assumes an increase in spending on housing by PLN 420.2 million and on research by PLN 50 million, which emphasizes the government’s commitment to the social and economic development of the country. Detailed information on the draft amendment to the budget act for 2025. Additionally, the government recommended to the Sejm to reduce the budgets of entities such as the Supreme Court, the National Broadcasting Council, the Institute of National Remembrance and the Chancellery of the President by a total of PLN 200 million.

    We are analysing that the budgets of entities such as the Supreme Court, the National Broadcasting Council, the Institute of National Remembrance and the Chancellery of the President could be reduced by an amount of no less than PLN 200 million, and this could be allocated to helping people affected by the flooding.

    – The Minister of Finance reported. In the budget for 2024, the government has secured PLN 2 billion for now without the need to amend it. Analyses regarding the need and possibilities of increasing these funds are ongoing.

    MILES AXIS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Translation: 28/09/2024 The Council of Ministers adopted changes to the draft budget act for 2025

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The exceptional situation related to the flood has led to the need to introduce changes to the draft budget act for 2025. Helping those affected by the flood is one of the government’s priorities and has been reflected in the new draft budget. We have increased funds for counteracting and removing the effects of natural disasters to the amount of PLN 3.191 million. The budget for 2025 provides funds to support citizens, security and economic development of Poland. On September 28, 2024, the Council of Ministers adopted changes to the draft budget act for 2025. The new draft assumes that state budget revenues will increase by PLN 230 million compared to the original draft, to PLN 632.848.2 billion. The total amount of state budget expenditure will remain unchanged, at PLN 921.618.2 billion. The deficit of PLN 230 million in the initial project will amount to PLN 288 million. Higher budget revenuesThe changes in the budget revenue plan for 2025 result primarily from the fact that the new project takes into account the effects of the regulation of the Minister of Finance of September 19, 2024, which extended the advance payments for certain taxes to 2025 for entities affected by floods. The amount of planned budget revenues is also affected by changes in the draft act amending the excise duty act and certain other acts. Budget expenditureOn the expenditure side, transfers have been made that allow for an increase in the state budget funds for counteracting and removing the effects of natural disasters for 2025. The earmarked reserve in item 4 has been increased from PLN 997 million (including PLN 786,176 million for the implementation of the “Flood Protection Project in the Odra and Vistula River Basins” and the “Project for Building Resilience to Climate Change in Water”) to the amount of PLN 3.191 million (including PLN 786.176 million for flood protection projects), i.e. by PLN 2.194 million. For this purpose, the reserve plan has been reduced where possible. Among other things, the reserve for State Treasury liabilities has been reduced (by PLN 400 million) and the general reserve (by PLN 279 million). The general reserve is used to respond to emergency situations that require immediate financial support. Support from this reserve is intended in particular for unforeseen events, the effects of which could not be planned in the mode of preparing the draft budget for the following year. The current flood situation authorizes the transfer of funds from the general reserve already at the planning stage to the flood reserve. As part of the changes to the draft budget act for 2025, the Minister of Justice reduced the expenses of common courts by PLN 321 million, postponing, among other things, the implementation of some construction and IT investments to the next budget year. The Minister of Finance – in agreement with BGK – reduced the demand for state budget funds for possible payments from BGK guarantee programs by PLN 211 million. The Minister of Finance also updated the demand for budget funds in special-purpose reserves in connection with new information that influenced the revision of forecasts. This concerns, among others, tasks currently financed from the Aid Fund, the financial projection of which ends in September 2025. The current implementation of some tasks indicates that the funds will be sufficient until the end of the year. This freed up the needs for the following months. The new draft budget act for 2025 also included auto-corrections of the budgets of non-governmental entities adjusting the increase in salaries to the level of 5% and in connection with the announcement of the average salary in the second quarter of 2024 by the President of the Central Statistical Office, on which the remuneration of judges is dependent. Increased expenditure on housing and science There was a further increase in expenditure on housing – item 39 of the special-purpose reserves for “Supplementation of expenditure on tasks in the area of ​​housing” was increased by PLN 420.2 million to supplement the non-repayable support for social and municipal housing in connection with the planned change in the regulations on financial support for certain housing projects. The financing of the tasks of the National Science Centre was increased by PLN 50 million. The Centre is one of the most important institutions in the country financing basic research (grants). Investing in scientific research is crucial for the development of society, improving the quality of life and strengthening Poland’s position in the international arena.

    MILES AXIS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Asia-Pac: MEDIA RELEASE – Samoa Police members visit Australia to boost capability ahead of CHOGM

    Source: Government of Western Samoa

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    This is a joint media release between the AFP and Samoa Police, Prisons and Corrections Services (Samoa Police).

    (20th September 2024)- Officers from Samoa Police have undertaken specialist police tactical group training with the Australian Federal Police in Canberra last month, as Samoa continues to ramp up its operational readiness ahead of the 2024 Commonwealth Heads of Government Meeting (CHOGM) being held in the Pacific nation in October.

    The Samoa Police Tactical Operations Section (TOS) worked closely with members of the AFP’s Tactical Response Team (TRT) on specialist first response training to address operational risks ahead of CHOGM and to build capacity and capability.

    The training was delivered under the Samoa Australia Police Partnership (SAPP) which this year celebrates 15 years of partnership between the AFP and Samoa Police. Ten TOS officers participated in a range of training drills and scenarios focused on the tactical resolution of high-risk incidents ahead of the major Commonwealth event.

    The Samoan officers were provided with insights into the valuable role the AFP TRT plays in major events both in Australia and internationally, along with how the AFP strategically prepares and trains to ensure members deliver a safe and secure high-profile event.

    The most recent training opportunity between AFP and the Samoa Police is the latest in the nation’s preparations for CHOGM, with AFP working closely with Samoa over the past two years in preparation of the event. The tactical training complements the tactical communications training collaboration in April this year.

    CHOGM is the Commonwealth’s primary political meeting, which is held every two years and where leaders discuss global economic, environmental and security challenges and how to work together to overcome them.

    AFP Detective Superintendent Daniel Evans said the training provided by the AFP’s Tactical Response Team would support interoperability and capability of the Samoa Police ahead of CHOGM.

    “The valuable skills and insights members of Samoa’s Police’s Tactical Operations Section have gained while in Australia will ensure they are equipped and ready for any scenario ahead of CHOGM,” Detective Superintendent Evans said.

    “The AFP is committed to providing ongoing support to the Samoa Police and Samoa Government ahead of CHOGM by providing advice, funding and access to AFP capability and training.

    “We look forward to working alongside our Samoa Police colleagues to deliver a safe and successful event.”

    Samoa Police Commissioner Auapaau Logoitino Filipo said the training continued to enhance Samoa Police’s capability ahead of CHOGM.

    “This training also reflects the 15 years of partnership with the AFP that has grown and strengthened into what it is today,” Commissioner Filipo said.

    “The advancement in tactical policing ahead of CHOGM improves our ability to deliver the event but also safety and security to the people and communities of Samoa on a daily basis.”

    While in Canberra, TOS officers and AFP members visited the National Police Memorial where they laid a wreath in memory of Samoa Police Senior Sergeant Peniamina Perite who was killed in the line of duty last month.

    Media enquiries:

    AFP Media: (02) 5126 9297

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    Follow our Facebook, Twitter, LinkedIn, Instagram and YouTube pages to learn more about what the AFP does to keep Australia safe.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: REMARKS BY THE ACTING PRIME MINISTER, HON. TUALA TEVAGA IOSEFO PONIFASIO ON THE OCCASION OF THE CROWNING OF THE MISS UNIVERSE SAMOA – MS. HAYLANI PEARL KURUPPU

    Source: Government of Western Samoa

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    (20TH SEPTEMBER 2024, ORATOR HOTEL AT 4:30PM)

    Ladies and gentlemen,

    Today marks the dawn of a new chapter in the history of pageantry for our nation. We gather here to celebrate and crown our Miss Universe Samoa, who will have the honor of representing our beautiful country at the 73rd Miss Universe competition, to be held in Mexico City on November 16, 2024.

    The Miss Universe competition is globally recognized as one of the top three international pageants. With its empowering motto, “Beautifully Confident,” the Miss Universe pageant aims to provide a platform where adult women from around the world can challenge themselves, express their voices, and be heard on the global stage. It is a movement that advocates for a future shaped by women—women with the courage to defy limits, curiosity to make groundbreaking discoveries, and audacity to continuously push the boundaries of possibility. These women become advocates for social causes, shouldering the responsibility of serving as role models with integrity and purpose.

    For over 30 years, Samoa has been absent from the Miss Universe platform. Today, it is time for our talented, intelligent, and vibrant ‘Tama’ita’i Samoa to once again shine on the global stage. As we continue our efforts to promote Samoa as a premier tourist destination, this pageant is yet another significant initiative driven by our dynamic private sector.

    The government of Samoa is fully committed to promoting the important role of women in our society. This commitment is not just words but is demonstrated through our policies and actions. We actively support women’s involvement at all levels, including in Parliament and high-level leadership roles. By doing so, we affirm our dedication to the principles of equality and inclusion. We believe in the invaluable contributions of women to the progress and development of our society, and this commitment is woven into the fabric of our national vision for the future. “Pathway to the development of Samoa.

    I would like to extend my sincere congratulations to Manaia Events for spearheading this effort. It takes vision, dedication, and courage to bring Samoa back onto the world stage, and your hard work and commitment are truly commendable. This is a testament to the power of partnerships between the private sector, local organizations, and national efforts to elevate Samoa’s presence globally.

    Special recognition goes to Ms. Haylani Pearl Kuruppu, our Miss Universe Samoa. Ms. Kuruppu has already made us proud on the international stage, having represented Samoa and the Pacific at the Miss Global Pageant in Cambodia in 2023. We all shared in the pride and excitement when Samoa was announced as one of the top two finalists. Millions around the world cheered for you then, and millions more will stand behind you as you step onto the Miss Universe stage. Your journey is not just one of personal achievement, but one that inspires hope and pride in the hearts of Samoans everywhere.

    As you prepare to compete in Mexico, remember that you carry with you not only the dreams of young Samoan women but also the rich cultural heritage of our nation. You embody the grace, strength, and resilience of our people. Through your presence on the Miss Universe stage, you are representing more than beauty; you are representing the values of courage, determination, and unity that define Samoa.

    Your dedication and service to Samoa have been commendable, and we pray for God’s continued protection and guidance as you undertake this momentous journey. We trust that you will inspire not only those in Samoa but also women around the world, showing them that no matter where they come from, their voices can be heard, their talents recognized, and their dreams realized.

    Once again, I extend my sincere thanks to Manaia Events, Vodafone Samoa, Fiji Airways, and everyone who has played a role in preparing our Miss Universe Samoa, Ms. Haylani Pearl Kuruppu, for her upcoming competition in Mexico City.

    God bless Haylanni and the Team Miss Universe Samoa.

    Fa’afetai tele lava. Thank you.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Celebrating Mithun Da’s journey of hope, perseverance and pursuit of dream to reach the pinnacle of Indian Cinema

    Source: Government of India (2)

    Celebrating Mithun Da’s journey of hope, perseverance and pursuit of dream to reach the pinnacle of Indian Cinema

    Dadasaheb Phalke Lifetime Achievement Award for 2022 to be conferred on eminent actor Mithun Chakraborty

    Actors’s cinematic journey profoundly remarkable & inspiring; His dedication and hard work have made him a role model for aspiring actors and artists: Sh Ashwini Vaishnaw

    Legendary actor will inspire generations through his cinematic contributions and work in philanthropy & public service, leaving a lasting legacy of excellence and compassion

    Posted On: 30 SEP 2024 9:58AM by PIB Delhi

    Legendary actor Mr. Mithun Chakraborty will be honoured with the Dadasaheb Phalke Lifetime Achievement Award for the year 2022. Union Minister of Information and Broadcasting, Railways and Electronics & Information Technology, Shri Ashwini Vaishnaw announced the award today in recognition of his remarkable contributions to Indian cinema. The Minister conveyed immense joy and pride in honouring one of the most cherished and iconic figures in the film industry who is known for his versatile performances and charismatic screen presence.

    Remarkable journey of Mithun Da

    Mithun Chakraborty, also known as Mithun Da, is an iconic Indian actor, producer, and politician, recognized for his versatile roles and distinctive dancing style. He has taken on a diverse range of roles in his movies, showcasing action-packed characters to poignant dramatic performances.

    The Minister stated that Mithun Chakraborty’s journey from a young man with humble beginnings to a celebrated film icon, embodies the spirit of hope and perseverance, proving that with passion and dedication, one can achieve even the most ambitious dreams. His dedication and hard work have made him a role model for aspiring actors and artists.

    Born Gourang Chakraborty on June 16, 1950, in Kolkata, West Bengal, he earned the National Film Award for Best Actor in his very first film, “Mrigayaa” (1976). An alumnus of the prestigious Film and Television Institute of India (FTII),  Mithun Chakraborty honed his craft and laid the foundation for his illustrious career in cinema.

    His portrayal of a Santhal rebel in the Mrinal Sen’s film earned him the national accolade. Mithun gained significant popularity in the 1980s with his role in “Disco Dancer” (1982), a film that became a major success both in India and internationally, establishing him as a dancing sensation. He became a household name with his iconic role in Disco Dancer (1982), a film that not only showcased his exceptional dancing skills but also popularized disco music in Indian cinema. His performance in Agneepath also won him the Filmfare Award for Best Supporting Actor in 1990.

    Later, he won two more National Film Awards for his roles in Tahader Katha (1992) and Swami Vivekananda (1998). Over his extensive career, Mithun has acted in more than 350 films across various Indian languages, including Hindi, Bengali, Odia, Bhojpuri, and Telugu. He is known for his diverse performances, ranging from action to drama and comedy, and has won several awards, including three National Film Awards for Best Actor.

    Dual legacy of Mithun Da

    The Union Minister emphasized that Mithun Da is not only celebrated for his cinematic achievements but also for his dedication to social causes. He has been actively involved in various charitable initiatives aimed at education, healthcare, and supporting underprivileged communities, reflecting his commitment to giving back to society. He has also served as a Member of Parliament, demonstrating his commitment to public service and governance.

    In a career spanning nearly five decades, Mithun Chakraborty has received numerous awards and accolades throughout his career, recognizing his significant contributions to Indian cinema. He was recently conferred with the prestigious Padma Bhushan award also for his outstanding contributions to Indian cinema. With a filmography that includes classics such as “Disco Dancer,” and “Ghar Ek Mandir,” he has not only entertained millions but has also shaped the landscape of Bollywood and regional cinema. His influence extends beyond the silver screen, as he continues to inspire generations through his work in film and philanthropy.

    The award will be presented during the 70th National Film awards ceremony scheduled to be held on Tuesday, the 8th October 2024. The following members were part of the Dadasaheb Phalke Award Selection Committee:

    1. Ms. Asha Parekh
    2. Ms. Khushbu Sundar
    3. Mr. Vipul Amrutlal Shah

     

    The prestigious Dadasaheb Phalke Lifetime Achievement Award not only recognizes Mithun Chakraborty’s artistic prowess but also his enduring legacy as a compassionate and dedicated individual who has made a difference in the lives of many.

     

    *****

    Dharmendra Tewari/Kshitij Singha

    (Release ID: 2060183) Visitor Counter : 53

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: Yet again, ACT drives change in quarterly plan

    Source: ACT Party

    “ACT’s contribution to the Coalition Government’s fourth quarterly plan shows how we’re driving the real change Kiwis voted for,” says ACT Leader David Seymour.

    “The document is a clear demonstration of how ACT in Government makes New Zealanders’ lives better. We’re unleashing builders and growers by cutting red tape, empowering families with choice in education, delivering consequences for crime, and more.

    “For the fourth plan in a row, ACT voters have made a disproportionate impact – more than half of the plan’s action points reflect our contribution.

    “Every day in Government, we’re taking great ideas and turning them into action to secure a freer, more prosperous future for New Zealanders.”

    Of the 43 actions listed, 22 are led by ACT ministers, advance ACT coalition commitments, or reflect ACT policies. These actions include:

    • Pass the first Resource Management Amendment Bill to reduce the regulatory burden on farmers and the primary sector.
      – ACT coalition commitment
    • Introduce the government’s second RMA reform Bill to Parliament to cut red tape holding back growth in the infrastructure, energy, housing, and farming sectors.
      – ACT coalition commitment
    • Establish the National Infrastructure Agency.
      – ACT policy
    • Take Cabinet decisions on funding and financing tools to get more housing built.
      – ACT coalition commitment
    • Introduce legislation to make it easier to build offshore wind farms.
      – ACT policy
    • Take Cabinet decisions on allowing greater use of road tolling to support the delivery of transport infrastructure.
      – ACT coalition commitment
    • Finalise the development of farm-level emissions measurement methodology.
      – ACT coalition commitment
    • Pass legislation to complete the removal of agriculture from the Emissions Trading Scheme.
      – ACT coalition commitment
    • Take Cabinet decisions to streamline regulations around food safety export exemptions.
      – ACT Minister
    • Pass legislation to reverse the ban on oil and gas exploration.
      – ACT coalition commitment
    • Take Cabinet decisions on the form of the Regulatory Standards Bill.
      – ACT Minister & coalition commitment
    • Initiate a third regulatory sector review to identify and remove unnecessary red tape.
      – ACT Minister & coalition commitment
    • Pass legislation extending deadlines for earthquake prone buildings to enable a review of the current settings.
      – ACT policy
    • Pass legislation to allow lotteries for non-commercial purposes to operate online, cutting red tape to make fundraising more effective.
      – ACT Minister
    • Take final design decisions for an online casino gambling regulator.
      – ACT Minister
    • Introduce legislation to remove the GE ban and enable the safe use of gene technology in agriculture, health science and other sectors.
      – ACT coalition commitment
    • Introduce legislation to enable stronger consequences for serious youth offending.
      – ACT Minister
    • Publish the second action plan on family and sexual violence.
      – ACT Minister
    • Begin delivery of new cancer treatments.
      – ACT Minister (through Pharmac)
    • Commence a review of the funding formula for independent schools.
      – ACT coalition commitment & ACT Minister
    • Negotiate contracts with, and announce, the first charter schools.
      – ACT coalition commitment & ACT Minister
    • Introduce legislation to expand the Traffic Light System to include additional consequences for beneficiaries who do not meet their obligations.
      – ACT coalition commitment

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Insurance Sector – ICNZ calls on RMA changes to stop building in dumb places

    Source: Insurance Council of NZ

    The Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ) is urging the Government to ensure that its proposed Resource Management Act (RMA) changes help protect local communities by avoiding building in dumb places.
    The Government has outlined plans to replace the RMA, with Phase 2 to introduce a package of national direction which councils must implement. The changes include the development of a National Direction for natural hazards and provide the ability to decline land use consents, or attach conditions, where there are significant risks from natural hazards.
    “We support enabling growth where natural hazard risk is well managed. However, if we allow development in high-risk locations, we risk putting people in harm’s way and ultimately worse outcomes for New Zealanders,” ICNZ chief executive Kris Faafoi said.
    “We know the country faces the prospect of more frequent and severe weather events. The impact of the extreme North Island weather events in early 2023 on lives, property and the economy were significant, with over $3.8 billion paid out in claims alone and billions more in damaged roads and other infrastructure networks.
    “The development of a National Direction will provide consistency in identifying and managing natural hazards and help ensure we build in the right places. This is turn will strengthen the country’s economic and community resilience and provide certainty to homeowners and businesses that insurance will be there when they need it.
    “New Zealand is particularly vulnerable to natural hazards risks. The Climate Change Commission’s reported around 750,000 people and 461,000 buildings are at risk of coastal inundation or inland flooding, involving many billions of dollars in assets.
    “New Zealand needs to take a long-term perspective that fosters the broad availability of insurance. This entails prudent land-use planning that avoids new developments in high-risk areas susceptible to natural hazards.
    “Where the risk becomes too high, insurance may not be affordable or available which has an impact on property values and the housing market and puts pressure on the government to invest in protection or compensate owners.

    MIL OSI New Zealand News –

  • MIL-OSI United Kingdom: Ofqual poll highlights value of cyber security training in schools

    Source: United Kingdom – Executive Government & Departments

    Ofqual is reminding schools and colleges of the importance of cyber security after a poll highlighted the risks associated with poor cyber hygiene. 

    Ofqual is reminding schools and colleges of the importance of cyber security after a poll highlighted the risks associated with poor cyber hygiene. 

    The prompt comes as a Teacher Tapp survey found 1 in 3 secondary teachers did not have cyber security training, in the last academic year. 

    Ofqual’s Executive Director of General Qualifications Amanda Swann said:

    Losing coursework that is the result of many hours of hard work is every student’s nightmare. Even more distressing is losing a whole class or year group’s coursework because of weak cyber security on a school or college IT system. 

    Many schools and colleges take cyber security seriously, but this poll highlights that there is more to be done. I would encourage schools and colleges to visit the National Cyber Security Centre’s school resource guide to learn how to defend against cyber attacks.

    The poll, which surveyed teachers across England, also found that: 

    • 34% of schools and colleges in England experienced a cyber incident during the last academic year 

    • most commonly, 23% of schools and colleges in England experienced a cyber security incident due to a phishing attack 

    • the north-west was hit hardest, with 40% of schools which responded having had a cyber incident, compared with 28% in the east of England 

    • 20% could not recover immediately, with 4% taking more than half a term to recover 

    • 9% of headteachers said the attack was critically damaging 

    • 1 in 3 teachers have not had cyber security training this year — of the two-thirds who have had training, 66% said it was useful. 

    Teachers who had experienced a cyber incident were asked how it affected them, their colleagues and students. 

    One teacher said:

    [It happened] last summer before results days. From then on, all teaching staff were unable to access anything, so could not prepare for the year. 

    When back in school, we could not use the desktops and there were not enough laptops. 

    This went on for weeks and was utter chaos.

    Another teacher said:

    [It] caused a dip in belief about the security of our systems and led to difficult conversations with parents.

    For practical tips designed for schools on how to defend against cyber attacks, visit the National Cyber Security Centre school resources page.

    Updates to this page

    Published 30 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Recruitment of Honorary Consul in Bodø (voluntary position)

    Source: United Kingdom – Executive Government & Departments

    We are looking for an Honorary Consul with an established network in the region of Bodø. An Honorary Consul is a voluntary position.

    UK Government logo

    We are looking for an Honorary Consul in Bodø.

    As a candidate, you should have a very good understanding and knowledge of Bodø, including surrounding areas, and an established network that will help you to support British interests and to provide support to British Nationals who find themselves in difficulty. The position may also involve helping the British Embassy respond to crises.

    As a British Honorary Consul you will work under the supervision of the Deputy Head of Mission and Vice Consul in Oslo and work closely with our consular, internal politics and public diplomacy teams. Depending on the needs of the British Embassy you will have the opportunity to work alongside other sections.

    With your help we would like to continue to build on the particular relationship which Bodø and the United Kingdom have enjoyed.

    The British Embassy is an inclusive and diversity-friendly organisation. We value difference, promote equality and challenge discrimination, enhancing our organisational capability. We welcome and encourage applications from people of all backgrounds. We do not discriminate on the basis of disability, race, colour, ethnicity, gender, religion, sexual orientation, age, veteran status or other category protected by law.

    The British Embassy in Norway is part of a world-wide network, representing British political, economic and consular interests overseas.

    An Honorary Consul is a voluntary position defined by the Vienna Convention on Consular Relations.

    Appointment

    The appointment will initially be for a term of one year. At the end of the initial term, the appointment may be renewed for a further three years, subject to the requirements of the Superintending Post (the Embassy). Any further term will be for three years.

    Number of hours

    You are expected to work no more than four hours in an average week.

    Honorarium

    Your appointment is unsalaried, and carries no entitlement to a pension or terminal gratuity or any other benefit. You will receive however, a small annual honorarium.

    Requirements

    • Security Clearance: Your appointment is subject to you receiving security clearance from the Foreign, Commonwealth & Development Office (FCDO).
    • Conflicts of interest: You must not engage in any occupation or undertaking which might conflict with the interests of Her Majesty’s Government.
    • Exequatur: Your appointment is subject to you receiving an exequatur from the Norwegian Foreign Office.

    Applications

    All applicants should submit their CV (in English, up to two pages) and covering letter (in English, no more than two pages of A4) setting out their motivation for the role and how they meet the above criteria.

    Deadline: 7 October 2024

    Please send applications to the following address: Oslo.Consular@fcdo.gov.uk

    Applications can also be sent via post: British Embassy Oslo Honorary Consuls Manager Thomas Heftyes Gate 8 0246 Oslo

    Updates to this page

    Published 30 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: 2024 Industrial Parks Summit Forum unveils Taiwan’s New Direction for Industrial Parks.

    Source: Republic Of China Taiwan 2

    As global industrial competition intensifies, to enhance the competitiveness of Taiwan’s industrial parks, the Bureau of Industrial Parks (BIP) of the Ministry of Economic Affairs (MOEA) held the “2024 Industrial Parks Development Policy Summit Forum” on October 23, 2024. The forum brought together elites from central and local governments, academia, and industries to jointly explore how to promote comprehensive upgrades in park safety management through smart transformation and achieve sustainable economic development goals.
    The Director of BIP, Yang, Po-Keng, stated that the Industrial Park Policy Summit Forum has entered its 10th year, and this year’s forum is even more significant as it is the first held after the BIP’s reorganization under the MOEA. After the reorganization, the BIP now oversees 80 industrial parks nationwide. In the future, the BIP will strive to attract more enterprises to settle in the parks and provide more comprehensive value-added services.
    The Director also mentioned that many industrial parks are currently facing infrastructure aging. To address this, the BIP will actively seek funding from the Forward-looking Infrastructure Development Program to carry out major renovations of industrial zones. In addition, with more than 13,000 manufacturing companies operating in the parks, the BIP will assist businesses in developing research and sales capabilities. At the same time, The BIP will also accelerate the promotion of digital, intelligent, and AI-based production. Therefore, this forum focuses on the theme of ‘Smart, Safe, and Sustainable: Park Upgrades and Cross-Disciplinary Cooperation” to discuss the future development direction of Taiwan’s industrial parks and how to integrate hardware and software strategies to achieve the mission of smart, safe, and sustainable development.
    As one of the highlights of the forum, Lin, Chien-Yuan, the professor of National Taiwan University, delivered a speech titled “Industrial Park Development and Spatial Optimization Upgrades,” providing an in-depth analysis of the current state and future challenges of industrial park development. He emphasized that with the ever-changing demands of industries, industrial parks need to continuously innovate, focusing on spatial optimization and smart technology to meet future challenges. Following this, Zheng, Xiu-Rong, the Director of the Southern Taiwan Science Park Bureau of the National Science and Technology Council shared successful experiences in smart operations and investment environment optimization, noting that these experiences will serve as important references for the development of other parks.
    In the second half of the forum, discussions shifted toward how central and local governments can work together to promote the construction of smart parks. Lin, Rong-Chuan, the Director of the Tainan City Government’s Economic Development Bureau and Sheng Hsiao-Rung, the Deputy Director of the New Taipei City Government’s Economic Development Bureau each introduced their cities’ innovative initiatives in promoting smart parks. They emphasized that cooperation between local and central governments is key to unleashing the full potential of smart technology in park management and realizing sustainable industrial development.
    The forum concluded with insightful dialogues between representatives from industry and government on topics such as the application of smart technology in park management and the close connection between smart city construction and industrial parks. The participants unanimously agreed that close cooperation between central and local governments and the introduction of innovative technologies will be crucial to enhancing the competitiveness of Taiwan’s industrial parks in the future.
    The successful hosting of this forum demonstrated the BIP’s firm commitment to promoting smart and sustainable development. In the future, the bureau will continue to advance smart transformation policies, deepen cooperation between central and local governments, and lead Taiwan’s industrial parks to a more advantageous position on the global stage.

    Spokesman: Mr. Liu Chi Chuan (Deputy Director General, BIP)
    Contact Number: 886-7-3613349, 0911363680
    Email: lcc12@bip.gov.tw

    Contact Person: Luo, Fong-Ying (Industrial Parks Development Division, BIP)
    Contact Number: 886-7-361-1212 ext 121
    Email: luofeng@bip.gov.tw

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Major Chinese cities optimize home-buying policies

    Source: China State Council Information Office

    Major Chinese cities of Shanghai, Guangzhou and Shenzhen have adjusted their real estate policies, with a slew of measures unveiled to boost local property markets.

    The city of Guangzhou in south China’s Guangdong Province has lifted restrictions on buying properties, a new step for the first-tier city to further optimize its real estate market.

    Starting on Monday, qualifications for purchasing a home will no longer be reviewed and there will be no restrictions on the number of homes purchased by families and single individuals with or without local household registration in the city, according to a circular issued by the general office of the municipal government on Sunday night.

    In Shanghai, the minimum down payment ratio for individual commercial mortgages will be reduced from 20 percent to 15 percent for first-home purchases, and from 35 percent to 25 percent for second homes, according to a circular issued Sunday.

    Commercial banks will be guided to lower existing mortgage rates to further reduce mortgage interest expenditures for home buyers. Restrictions on home-buying qualifications will be further relaxed in specific locations of Shanghai. The new measures will take effect on Tuesday.

    Also on Sunday, the city of Shenzhen in Guangdong Province announced measures such as reducing the down payment ratio and optimizing district-specific home purchase restrictions.

    The latest measures follow a Thursday meeting of the Political Bureau of the Communist Party of China Central Committee, which underlined the need for efforts to reverse the real estate market downturn and stabilize the market.

    MIL OSI China News –

  • MIL-OSI Russia: From October 31 to November 1, 2024, NSU will host the II annual scientific and production forum “Golden Valley-2024”

    MILES AXLE Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    The organizer of the forum is Novosibirsk State University. According to the idea of the founder of the Novosibirsk Akademgorodok, academician Mikhail Lavrentiev, the university was included in the Lavrentiev triangle “science-personnel-industry” from the day of its foundation, and today it confidently ranks among the top ten leading universities in the country.

    The Forum’s partners include the interregional association “Siberian Agreement”, the government of the Novosibirsk region, the NSU Graduates Association, the Novosibirsk Akademgorodok technology park, the Siberian Branch of the Russian Academy of Sciences and the Council of Rectors of Universities of Novosibirsk.

    Director of the Center for Interaction with Government Authorities and Industrial Partners of NSU Alexander Lyulko noted:

    — The results of the first Forum were very pleasing to all participants. One of the main results of the work was the signing of several agreements at once, designed to strengthen the trinity of science, education and business.

    Throughout the past year, we have seen an active growth of interest from industrial enterprises in our university and its resources. The programs implemented by the Center for Technology Transfer and Commercialization, New Functional Materials, the Advanced Engineering School and other innovation centers of NSU find a response and support in industry and business.

    This year, the key aspect of the Forum will be the discussion of ways of further interaction between science and production with an emphasis on joint solution of import substitution tasks and creation of high-tech products. We will be glad to see representatives of both the scientific community and business structures at our Forum to strengthen ties and exchange ideas.

    Together we can create conditions for the introduction of innovative technologies into production and the training of qualified specialists necessary for the success of the Russian economy, and become part of an important dialogue about the future of science and industry in our country.

    The Golden Valley 2024 Forum will feature thematic sections:

    Aviation

    Unmanned aircraft systems.

    Mechanical engineering and instrument making.

    Energy.

    Smart city technologies. Construction.

    Medicine and pharmaceutical industry.

    Artificial Intelligence in Industry and Robotics

    Agriculture.

    In addition to the business program, the Forum will host a number of related events aimed at establishing contacts between universities and potential industrial partners. In particular, there will be an exhibition of the latest scientific developments and advanced industrial achievements. Participants of the exhibition will be able to get acquainted with the best developments and technologies already implemented in the Novosibirsk Region, other regions of the Russian Federation and in the world.

    The result of the Forum should be the formation of partnerships between representatives of science, universities, industry, development institutions, and government agencies to introduce new technologies and developments into the real sector of the economy.

    In 2023, the Forum brought together more than 1,000 participants. Over 130 speakers spoke at sections and plenary sessions, including 15 members of the Russian Academy of Sciences, 20 rectors of universities in the Siberian Federal District, and more than 50 directors of federal and regional enterprises. The forum was attended by Deputy Governors of the Novosibirsk Region Irina Manuilova and Sergey Semka, representatives of leading corporations interested in introducing new technologies and promising developments into the domestic industry: Rosatom, Rostec, Russian Railways, Sitronics, Rostelecom, UEC, SGK, LUKOIL and many others.

    Following the results of the first Forum, the rector of NSU, academician of the Russian Academy of Sciences Mikhail Fedoruk noted:

    — Such events will be held regularly, their main goal is to help ensure the technological sovereignty of our country. It is not without reason that the forum’s motto is: “Real science for real industry.

    More detailed information is provided on the forum website.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.nsu.ru/n/media/nevs/science/on October 31-November 1, 2024-its-annual-research-production-forum-zolo will be held in NSU/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

  • MIL-OSI Australia: Recent developments in employment law

    Source: Allens Insights

    The latest issues, decisions and proposed changes impacting business and workplace risk 5 min read

    Fair Work Act changes have now commenced

    By: Tarsha Gavin, Lawrence Mai, Ruby Evans

    Time to review contractual arrangements and processes

    As foreshadowed in our August Insight, the second tranche of changes introduced by the Closing Loopholes amendments commenced on 26 August 2024. Some of the key changes that are now in force include:

    The right to disconnect

    The new right permits an employee to refuse to respond to contact (or attempted contact) from their employer or third parties when that contact is made outside of their working hours, unless the employee’s refusal is unreasonable.

    Changes to the definition of employment

    The new definition of an employment relationship requires an assessment of the ‘real substance, practical reality and true nature of the working relationship’ (now known as the ‘whole of relationship’ test).

    Rights for independent contractors

    Contractors who earn above the contractor high income threshold of $175,000 are now eligible to voluntarily opt out of the new definition of an employment relationship (if it would otherwise apply to them). Those who opt out of the ‘whole of relationship’ test will instead be governed by the ‘start of relationship test’, which assesses what the parties agreed about the nature of their relationship.

    Casual employment changes

    A new definition of a ‘casual employee’ has been introduced, and a new ’employee choice’ process for conversion to permanent employment has also come into effect.

    Key takeaway

    As the latest tranche of legislative changes impact permanent employees, casual employees and contractors, it is important that employers review contractual arrangements and processes across their workforce to ensure they are compliant with the recent changes.

    For more information on the above amendments, see Closing Loopholes (No 2) Bill passes both houses of Parliament.

    New delegates’ rights clause in operation

    By: Sonia Millen, Sarah Lunny & Steve Hatzipavlis 

    Expect a rise in union activity

    Implementing a key Closing Loopholes amendment, all modern awards now include a workplace delegates’ rights clause.1 Newly made enterprise agreements must now also include an equivalent or more favourable clause.

    Key takeaways

    • From 1 July 2024, all modern awards contain a term that sets out the rights of workplace delegates (being workers elected or appointed by their union to represent the interests of union members and employees eligible to be union members) in a workplace.
    • Any enterprise agreements put to a vote post-1 July 2024 must contain a delegates’ rights term. If an enterprise agreement does not contain a delegates’ rights term or the proposed term is less favourable than the modern award term, the more favourable modern award term is taken to form part of the agreement.

    What does the new delegates’ rights clause say?

    In summary, the new delegates’ rights clause provides workplace delegates with the following rights:

    Category of right What does the clause say?
    Representation

    Workplace delegates may represent the interests of eligible employees who wish to be represented in matters including:

    • consultation about major workplace changes and changes to rosters or hours of work;
    • resolution of disputes and disciplinary processes;
    • enterprise bargaining; and
    • any process or procedure that eligible employees are entitled to be represented for under an award, enterprise agreement or workplace policy.
    Reasonable communication  Workplace delegates may communicate with eligible employees for the purpose of representing their industrial interests, including by discussing union membership and representation. Workplace delegates may communicate with eligible employees during working hours or work breaks, or before or after work.
    Reasonable access to the workplace and workplace facilities  Workplace delegates must be provided with access to, or use of, an appropriate room or area to hold discussions with eligible employees, a physical or electronic noticeboard, an electronic means of communication to communicate with eligible employees (including access to WiFi), a secure document storage area and various office facilities and equipment.
    Reasonable access to training  Subject to various conditions set out in the clause, employers must provide workplace delegates with access to up to five days of paid time during normal working hours to attend initial training related to the representation of industrial interests of eligible employees. Each subsequent year, the employer must provide at least one day of paid training time.

    How does this affect you?

    We expect that the new delegates’ rights term will result in increased union activity and involvement in a wide variety of workplace matters.

    To ensure your organisation is prepared for the changes, we recommend:

    • if your organisation is bargaining for a new enterprise agreement, reviewing the model delegates’ rights clause and considering whether it is appropriate to adopt the modern award term or bargain for a different term (noting that any term must be at least as favourable as the modern award term);
    • notifying employees and managers of the rights available to workplace delegates; and
    • reviewing current practices and considering whether to introduce a protocol to support consistent, reasonable and appropriate management of workplace delegates.

    Fair Work Commission alters flexible working arrangement

    By: Tegan Ayling, Anastasia Hatzisarantinos 

    Decision highlights the importance of articulating reasonable business grounds 

    In a recent decision, the Fair Work Commission (FWC) ordered an employee to work in the office one day per week, at the same time highlighting the importance of adequately explaining reasonable business grounds if an employer refuses a request.

    Key takeaway

    Employers should clearly outline their reasonable business grounds for refusing flexible working requests. This involves not only explaining the benefits to the employer’s proposed working arrangement, but also explaining how the approval of the working arrangement requested by the employee would be detrimental to the employer’s business.

    Background

    FedEx gradually introduced hybrid arrangements that involved employees working back in the office post COVID-19. From July 2023, employees were required to work in the office three days per week.

    FedEx refused an employee’s request to work from home three days per week to care for his two teenage children who have an intellectual disability and autism, and his wife who suffers a debilitating illness. However, it agreed that the employee could continue his existing arrangement to work in the office two days per week and two days from home. While that arrangement was in place, the employee was in practice working in the office one day per week, taking leave one day per week and working two days from home.

    In January 2024, the employee made another request to work entirely from home. FedEx sought further information from the employee and suggested alternative arrangements, but no agreement was reached. FedEx subsequently rejected the employee’s request, and he lodged a dispute with the FWC.

    Following conciliation, FedEx agreed to trial three days at home and one day in the office, but the employee never returned to the office.

    Decision

    Since the matter could not be resolved between the parties, the FWC ultimately ordered the employee to work in the office one day per week and allowed FedEx to also direct him to work in the office in specific circumstances. This included if the employee did not attend the office for two consecutive weeks, there were performance concerns or there were genuine operational requirements that required his attendance.

    In its decision, the FWC emphasised the importance of following proper process when responding to a request for flexible working arrangements. In particular, the FWC criticised FedEx for failing to sufficiently articulate its reasonable business grounds in rejecting the employee’s request. The grounds FedEx relied on during the proceeding had not been clearly articulated to the employee in FedEx’s refusal of his request.

    The FWC also took into account that the employee had not followed FedEx’s lawful and reasonable direction to return to the office, noting that employees are not entitled to a flexible working arrangement without an approved request. The employee’s actions to ‘avoid working in the office at all costs‘ before the flexibility request was decided was a factor in the FWC decision to permit FedEx to direct the employee to work in the office, including in the specific circumstances outlined above.

    Employer not required to produce investigation report under terms of enterprise agreement

    By: Tarsha Gavin, Sayomi Ariyawansa and Steve Hatzipavlis

    Confidentiality does not automatically prohibit provision of documents

    The Full Bench of the FWC ruled that Aurizon Operations Limited (Aurizon) was not required under the terms of its enterprise agreement to produce an investigation report to an employee following an investigation into their alleged misconduct.2

    Key takeaways

    • The FWC will consider the process set out in the relevant enterprise agreement when determining the requirements of natural justice and due process in relation to an investigation, and any subsequent process relating to the determination of a disciplinary outcome.
    • Even if an investigation is confidential, the requirements of procedural fairness include informing an employee of the substance of the adverse material against them so the employee can provide a response before findings are made.
    • A clause stating that an investigation is confidential does not necessarily prohibit an employer from providing a copy of an investigation report to the employee.

    Decision

    Following an investigation by Aurizon into allegations of misconduct by an employee, an investigation report was prepared outlining the substantiated conduct, and the employee was provided with an opportunity to put forward their submissions on the appropriate disciplinary outcome. The Rail Tram and Bus Union (RTBU) on behalf of the employee requested a copy of the investigation report for the purposes of making these submissions. This request was refused.

    The RTBU brought an application in the FWC claiming that Aurizon’s failure to provide the report breached the applicable enterprise agreement which relevantly provided the following terms:

    1. Process: any investigation that may lead to the disciplinary action against an employee must apply the principles of natural justice and due process, including the employee being made fully aware of allegations subject to an investigation and being provided with sufficient information to provide an informed response.
    2. Confidentiality: disciplinary inquiries and investigations shall be confidential.
    3. Disciplinary outcomes: following the investigation procedure, the employee may be subject to various disciplinary outcomes, following a process that includes providing the employee with a reasonable opportunity to provide reasons regarding what the appropriate disciplinary outcome should be.

    The RTBU alleged that the principles of procedural fairness, as set out in (a), required Aurizon to provide the investigation report to the employee to assist with the employee’s response in (c) concerning the disciplinary outcome. The RBTU also alleged there was no utility in keeping the investigation confidential as the employee was already aware of the complainant’s identity and allegations. Aurizon claimed that because of the confidentiality requirements, the Full Bench of the FWC could not order Aurizon to produce the report.

    The Full Bench of the FWC found that:

    • the confidentiality clause did not prevent Aurizon from providing a copy of the investigation report to a worker. If this were the case, Aurizon would be unable to provide information to the employee subject to the investigation as required by (a) and it would make the disciplinary regime unworkable. Rather, the confidentiality clause prohibited workers from disclosing information obtained during the investigation and prohibited Aurizon from disclosing investigation information to any person not involved during the inquiry.
    • at the point the RTBU sought the investigation report, the investigation process was complete, and Aurizon was at the stage of assessing the appropriate disciplinary outcome. At this point of the disciplinary process, there was no requirement in the enterprise agreement for Aurizon to apply the general principles of natural justice and due process outlined in (a), as these did not apply in the assessment of disciplinary outcomes outlined in (c). As such, Aurizon was not required to produce the investigation report.
    • natural justice and due process had not been afforded to the employee under (a), as the substance of the adverse material in the report was not put to the employee for their response during the investigation process. The Full Bench recommended that it would be prudent for Aurizon to re-open the investigation to put the substance of the report findings to the employee, but did not make an order to this effect as the grounds of appeal in the matter were limited to dealing with the production of the completed report.

    Employees retain redundancy pay because of move to ‘dusty, noisy and malodorous’ office 

    By: Sarah Lunny and Bella Busby

    Connection between redundancy pay and alternative employment 

    After accepting that an employer had obtained ‘acceptable alternative employment’ for two former employees, the FWC allowed the two employees to keep 30% of their redundancy pay because of the inferior quality of their new office space.3

    Key takeaways

    • Employers can apply to the FWC to vary the amount of redundancy pay that would otherwise be payable to an employee under the Fair Work Act 2009 (Cth) (FW Act) if the employer obtains other acceptable employment for the employee. The FWC has a broad discretion to vary redundancy pay to an amount it considers appropriate, including reducing the amount payable to zero.
    • Even if an employer has arranged a new role for a former employee, the FWC may determine that the employee is entitled to receive part of their redundancy pay entitlement if there is a difference in working conditions between the employee’s previous role and the new one.

    Background

    An employer in the recycling industry made an application to the FWC to reduce the redundancy pay entitlements of two administrative employees after the employer arranged comparable roles with another recycling business. Both office-based employees had been made redundant after the original employer’s business suffered a significant downturn, resulting in 100 employees being laid off.

    Both employees argued that their redundancy pay entitlements should not be reduced because the new roles the employer had arranged for them did not constitute acceptable alternative employment, including because:

    • the new employer had a less professional, more ‘blue collar’ work culture than the previous workplace; and
    • the new office was noisier and dirtier than their previous workplace, as it was physically attached to the recycling facility, where trucks would enter and unload rubbish several times a day.

    After comparing each employee’s role with the new employer to their role with the old employer, the FWC decided that both employees had been provided with ‘other acceptable employment’ because the work and conditions were sufficiently similar to those of their previous employment, even if there were some factors that made the new jobs less attractive to the employees.

    In considering whether to reduce the employees’ redundancy pay, the FWC weighed the ‘significant effort’ the employer had made to obtain other acceptable employment for the employees against ‘the disadvantage of the quite different work environment’ at the new employer. The FWC ultimately decided to reduce each employee’s redundancy pay by 70%, allowing each employee to keep 30% of their redundancy pay in consideration of the ‘marked difference’ between performing their administrative work in an office attached to a recycling warehouse compared to previously working in an office removed from the actual process of recycling.

    Resurrecting the dead: breathing life into a zombie agreement

    By: Andrew Wydmanski and Samuel Jackson

    Extensions remain viable during ongoing bargaining of enterprise agreements

    The Full Bench of the FWC has extended the default period of a ‘zombie agreement’, for a second time, rejecting the employer’s request to transition employees onto the Social, Community, Home Care and Disability Services Industry Award 2010 (SCHADS Award) while bargaining for a new agreement was ongoing.4

    Key takeaways

    • The FWC is open to extending the life of zombie agreements during enterprise bargaining if it considers that extending the agreement would ‘minimise disruptions or changes to terms and conditions’ and where it might be expected that ‘a replacement agreement will be reached in the near future’.
    • Employers covered by a zombie agreement that has been extended by the FWC should prepare for the possibility that the FWC may grant further extensions if bargaining for a new enterprise agreement is ongoing.

    Background

    A ‘zombie agreement’ is an old industrial workplace agreement made before the commencement of the FW Act. Under the Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022 (Cth), all zombie agreements were set to automatically end on the ‘default period’ of 7 December 2023, unless an application was made to the Commission to extend it.

    In September 2023, the Health Service Union (HSU) made an extension application in respect of the Kirinari Community Services Ltd Hume Riverina Branch Certified Agreement 2006-2008 (Agreement). The Full Bench of the FWC decided it was reasonable to extend the operation of the Agreement to 6 April 2024.

    The HSU again applied under the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth) (Transitional Act) to extend the default period of the Agreement, this time until 6 December 2024.

    The employer, Kirinari Community Services Ltd (Kirinari), opposed the HSU’s application on the basis that:

    • from an administrative and payroll perspective, it would be more efficient and fairer for all of its employees to be covered by the SCHADS Award;
    • the terms of the SCHADS Award would provide employees with greater flexibility should they wish to work in Kirinari’s operations outside of the Hume Riverina region; and
    • given that bargaining for the new enterprise agreement was based on the SCHADS Award, transitioning remaining employees to the SCHADS Award would mean all employees would be familiar with rostering arrangements and other terms and conditions of the SCHADS Award.

    The Commission rejected Kirinari’s arguments, finding that moving employees from the Agreement to the SCHADS Award at a time when a replacement agreement was expected to be reached in the near future could disturb current bargaining.

    The Commission considered that more progress should have been made since its decision in September last year. It also noted that the parties had not sought the Commission’s assistance to finalise the replacement enterprise agreement. As a result, the Commission was satisfied that it was appropriate to extend the default period for a further four months.

    Former manager awarded $1.5 million following unlawful summary dismissal

    By: Anthony Hallal and Matt Stark 

    Penalties can be severe for breaches of the general protections regime

    The Federal Circuit and Family Court of Australia (FCFCA) recently ordered an employer to pay a former manager over $1.5 million after summarily dismissing him in breach of the general protections regime in the FW Act and their employment contract.

    Key takeaway

    This case is a recent example of the substantial damages that can be awarded under the general protections regime where employees have been found to be unlawfully terminated.

    Background

    An employee of Laing O’Rourke Australia Management Services Pty Ltd (LOA), Mr Haley worked for LOA and other companies in LOA’s group for over 15 years. From 2018 he was the Commercial Team Leader in charge of cleaning up bushfire-damaged properties from the previous Christmas period (Bushfire Project).

    In early July 2020, Mr Haley and other LOA employees invited their colleagues to a property LOA was leasing while working on the Bushfire Project for a social event. Following noise complaints from neighbours, the owners of the property attended twice, which culminated in a verbal altercation between the LOA employees and the owners (the Incident).

    LOA subsequently conducted an investigation into the Incident, following which Mr Haley had a show cause meeting with LOA. Later in July 2020, Mr Haley was summarily dismissed by LOA on the basis that he had engaged in serious misconduct. Specifically, LOA alleged that Mr Haley had lied in the course of the investigation, and that Mr Haley’s conduct during the Incident breached LOA’s policies in a manner that ’caused imminent and serious risk to the reputation of [LOA]’.5

    The FCFCA decided that LOA had not established it was entitled to summarily dismiss Mr Haley from his employment. Further, LOA had taken adverse action by summarily dismissing Mr Haley in circumstances where it could not establish Mr Hayley’s complaints and inquiries in relation to his employment were not a reason for his dismissal.6

    Decision on damages

    Following this finding that Mr Haley had been unlawfully terminated, the most recent decision7 of the FCFCA concerned the assessment of damages to which Mr Haley was entitled.

    LOA was ordered to pay Mr Haley a sum of more than $1.5 million in respect of the summary dismissal, accounting for Mr Haley’s:

    • loss of income up to the date of judgment;
    • present value of Mr Haley’s loss of future income until March 2025 (accounting for likely promotions/pay increases throughout this period);
    • relocation costs back to the UK after the termination of his employment;
    • break fees for car rental and lease agreements; and
    • an amount of $50,000 for Mr Haley’s hurt, distress and humiliation.

    MIL OSI News –

  • MIL-OSI Australia: Police bid farewell to barracks

    Source: South Australia Police

    Today marks the end of an era for South Australia Police (SAPOL) with the final handover of the Thebarton Barracks site after more than 100 years.

    Following a final walkthrough this afternoon, SAPOL handed over the keys to builders behind the new Women’s and Children’s Hospital project.

    Commissioner of Police Grant Stevens acknowledged the goodbye felt “bittersweet”.

    “For over a century, Thebarton Barracks has been a cornerstone of our operations, witnessing countless milestones and serving as a testament to SAPOL’s enduring legacy,” he said.

    “As we turn the page on this chapter of our history, we have an opportunity to weave cherished traditions into new and innovative ways of operating.

    “While Thebarton Barracks was state-of-the-art when it was built in 1914, we had outgrown the stables and buildings, and this move has allowed us to acquire modern facilities.”

    The Thebarton Barracks Project Team has been collaborating with the government for the past two years to ensure staff have modern, fit-for-purpose accommodation that meets SAPOL’s operational requirements.

    Throughout August and September remaining units at Thebarton Barracks vacated the site for their new locations. While some are in temporary accommodation, as their new facilities are not yet complete, work is progressing as a priority to ensure they receive the same high-quality, fit-for-purpose sites soon.

    Last week, the first stage of new state-of-the-art facilities at Gepps Cross, housing Mounted Operations Unit, was unveiled, and the new Road Safety Centre at West Beach will soon be formally opened to the public.

    As a final goodbye, a short commemorative video has been prepared which can be viewed here: https://youtu.be/rtd_FdEpEXI

    Project Sponsor Chief Superintendent John De Candia handing over the Thebarton Barracks keys to Senior Project Manager of the new Women’s and Children’s Hospital James Patrick on Monday 30 September.

    Lendlease Site Manager Nathan Peal ready to get to work after Project Sponsor Chief Superintendent John De Candia handed over the Thebarton Barracks keys to Senior Project Manager of the new Women’s and Children’s Hospital James Patrick on Monday 30 September.

    MIL OSI News –

  • MIL-OSI: NNIT A/S: ATP choses NNIT as new supplier of business-critical SAP system

    Source: GlobeNewswire (MIL-OSI)

    As referred to in the Company Announcement 05/2024, Interim Financial Report Q2 2024 on August 26, NNIT was close to signing a large important strategic contract. NNIT has entered into a contract with ATP (Udbetaling Danmark) for the delivery of their critical SAP Debtor system. Udbetaling Danmark is the authority responsible for the collection, disbursement, and control of a number of public benefits. – e.g., state pension and housing benefits.

    The contract will initially run for six years with the possibility to extend twice for a two-year period. The contract was tendered by ATP at an estimated value of DKK 240 million incl. options, ad hoc solutions made to order and infrastructure operations to be delivered by a subcontractor.

    Kasper Søndergaard Andersen, Senior Vice President of Region Denmark, says “We are exceedingly pleased to have won the project for the delivery of ATP’s Debtor system. Public digitalization is a strategic focus area in NNIT, and we are energized by the significant task of ensuring the continued welfare in Denmark. With this Debtor delivery, we are building on our long-standing relationship with ATP, and we will also have the opportunity to bring our recently fortified SAP business to the table and begin the substantial task of modernizing SAP”.

    The contract has no implications for NNIT’s financial guidance for the full-year of 2024.

    For more information, please contact:

    Investor Relations
    Carsten Ringius
    EVP & CFO
    Tel: +45 3077 8888
    carr@nnit.com

    Media Relations
    Tina Joanne Hindsbo
    Media Relations Manager
    Tel: +45 3077 9578
    tnjh@nnit.com

    ABOUT NNIT

    NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

    We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

    We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

    We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

    NNIT consists of group company NNIT A/S and subsidiaries SCALES, Excellis Health Solutions and SL Controls. Together, these companies employ more than 1,700 people in Europe, Asia and USA. Read more at http://www.nnit.com.

    Attachment

    The MIL Network –

  • MIL-OSI Europe: Third Meeting of the Interagency Steering Committee on Combating Cybercrime in Kazakhstan

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Third Meeting of the Interagency Steering Committee on Combating Cybercrime in Kazakhstan

    Third Meeting of the Interagency Steering Committee on Combating Cybercrime in Kazakhstan, Astana, 18 September 2024 (OSCE/Akbota Sarzhanova) Photo details

    On 18 September 2024, the OSCE Programme Office in Astana held the third and final meeting of the Interagency Steering Committee on the development of Kazakhstan’s first Comprehensive Action Plan to Counter Cybercrimes and Crimes using Information and Communication Technologies for 2025-2029 (hereinafter, Action Plan). The initiative is part of the extrabudgetary project “Supporting the Republic of Kazakhstan in the Development of Effective Policies to Counter Cybercrimes (Phase I)”, implemented by the Office in co-operation with the Ministry of Interior of Kazakhstan, and with the support of the Presidential Administration of Kazakhstan.
    The meeting brought together over 80 representatives from law enforcement and government agencies, including representatives from 20 police departments, leading national and international experts in combating cybercrime, as well as representatives from the private sector. Discussions focused on finalizing the draft of the Action Plan, refining the plan’s activities, and determining the methods and timelines for implementation.
    Dr. Volker Frobarth, Head of the OSCE Programme Office in Astana, addressed the meeting, stating, “I would like to extend my gratitude to our key partner, the Ministry of Interior. Your staff are on the front lines of the daily fight against cybercrime. We recognize the significant challenges they face in investigating these crimes and bringing offenders to justice. Rest assured, both as an organization and as the Office, we are committed to providing full support to your Ministry in advancing initiatives aimed at combating cybercrime.”
    This expert-level meeting builds on the progress made during the first and second meetings in this format, where participants reviewed key findings and recommendations for improving the country’s ability to combat cybercrime, based on the analysis of the current situation in Kazakhstan and the international experience of OSCE and OECD countries in effectively combating cybercrime. Special attention was paid to discussing mechanisms and methods to increase the effectiveness of countering new challenges and threats, improving the cybercrime prevention system, and ensuring respect for human rights and freedoms throughout the project’s implementation.
    Deputy  Minister of the Interior, Aidos Rysbaev, noted the importance of this collaborative effort, stating, “Since last year, we have launched a joint initiative with the OSCE Programme Office in Astana and other government agencies to develop effective policies for combating cybercrime. The Interagency Steering Committee has been established under the Ministry of Interior, and a draft Action Plan is already in place.”
    A key outcome of the meeting was the recognition of the need to strengthen and expand international co-operation, establish mechanisms for interagency interaction, and enhance partnerships within a “whole-of-society” approach, thereby improving the effectiveness of identifying, investigating, preventing, and mitigating cybercrimes.
    The extrabudgetary project is supported by the governments of the Federal Republic of Germany and the Kingdom of Norway, and aligns with Kazakhstan’s ongoing efforts to join the Budapest Convention on Cybercrime. As Kazakhstan advances its cybercrime policies, the Action Plan will serve as a vital roadmap, ensuring the country is well-equipped to navigate the escalating challenges of the digital age.

    MIL OSI Europe News –

  • MIL-OSI Germany: Germany’s international investment position at the end of 2023

    Source: Deutsche Bundesbank in English

    At the end of 2023, Germany’s net external assets totalled €2,964 billion, thus amounting to just over 70% of Germany’s nominal gross domestic product (GDP). Overall, both assets and liabilities vis-à-vis non-residents rose further in 2023. This was especially true of claims and liabilities from cross-border portfolio investment. However, corporate ties resulting from direct investment by German investors also continued to expand in 2023. By contrast, both assets and liabilities from other investment declined. These include loans and trade credits (where these do not constitute direct investment) as well as currency and deposits. However, as German liabilities in this segment fell even more sharply than claims in 2023, the other investment balance also rose. In net terms, Germany’s net external assets at the end of 2023 were €206 billion higher than at the end of 2022. This increase was attributable in large part to the surplus on the German current account and the resulting net capital exports.
    Net external assets rise on the year once again
    At the end of 2023, Germany’s net external assets stood at €2,964 billion. This was slightly more than 70 % of nominal gross domestic product and meant that this ratio remained virtually unchanged on the year. In 2023, the German net external asset position rose by around €206 billion in absolute terms. Claims on non-residents were up on the year by €381 billion (or 3.1 %) to €12,579 billion; liabilities rose by €175 billion (or 1.9%) to €9,616 billion. Claims mainly reflected transaction-related changes, i.e. asset purchases, as well as positive market price effects. The exchange rate effect, meanwhile, was negative: as the euro effectively appreciated against the currencies of its most important trading partners over the course of the year,[1] the value, in euro terms, of German assets abroad tended to drop where they were reported in a foreign currency. Other non-transaction-related adjustments had a positive impact on Germany’s external assets.[2] The rise in German foreign liabilities was mainly attributable to market price effects, which predominantly occurred around year-end, driven by a more favourable inflation outlook and expectations of falling key interest rates.
    The cross-border transactions recorded in the financial account resulted in net capital exports of €250 billion last year, in line with Germany’s current account surplus. Non-transaction-related changes reduced the increase by €44 billion, however. On balance, negative market price and exchange rate effects were contributory factors. Other adjustments made a positive overall contribution to Germany’s external position.
    Surplus in portfolio investment slightly higher than in 2022
    At €807 billion, the portfolio investment balance at the end of 2023 was around €23 billion higher than in the previous year. Securities claims on non-residents slightly outpaced the corresponding liabilities.[3]
    At the end of 2023, resident investors held foreign securities totalling €4,004 billion, up by €392 billion (or 10.9 %) on the previous year. The rise was mainly the result of net purchases of foreign bonds and positive market price effects. The relative strength of the euro, meanwhile, caused mostly negative exchange rate effects on the assets side. Alongside foreign bonds, resident investors also bought foreign investment fund shares and money market papers. However, they sold foreign shares – in small amounts.
    At the end of 2023, non-resident investors held German securities to the tune of €3,197 billion in their portfolios, which was €369 billion (or 13.1 %) more than at the end of 2022. This was mainly the result of positive market price effects, especially in relation to shares and long-term debt securities. Transactions recorded in the financial account also contributed to the build-up of holdings. On balance, non-resident investors almost exclusively bought German long-term debt securities, as well as, to a lesser extent, short-term debt securities. By contrast, they were net sellers of German shares and investment fund shares.
    Drop in the positive balance for financial derivatives
    At the end of 2023, holdings of financial derivatives and employee stock options registered a positive balance of €27 billion. This was, however, only slightly more than half the size of the previous year’s balance. In 2022, Russia’s war of aggression against Ukraine had triggered severe disruptions in the energy markets and caused considerable net capital exports in forward and futures contracts relating to electricity and gas.
    Further expansion in direct investment
    Cross-border corporate ties involving German firms continued to expand in 2023. German outward direct investment was up on the year by a total of €85 billion (3.0 %) to €2,929 billion, an increase that was, on balance, exclusively attributable to transactions. In particular, German investors boosted their equity capital in enterprises abroad, but also issued additional loans to affiliated group entities. The effective appreciation of the euro meant that exchange rate effects had a negative impact on Germany’s outward foreign direct investment stocks. These valuation losses were, however, largely offset by positive other adjustments and slightly positive market price effects. 
    Non-resident enterprises increased their direct investment in Germany by €26 billion (1.3 %) to €1,995 billion in 2023, with transactions accounting for just over two-thirds of this total. Non-resident investors augmented their equity capital in German enterprises but reduced their intra-group lending to domestic enterprises. 
    On balance, Germany’s direct investment balance at the end of 2023 amounted to around €933 billion and was therefore €59 billion higher than at year-end 2022.
    Other investment: net claims higher
    In other investment, comprising loans and trade credits (where these do not constitute direct investment) as well as currency and deposits amongst others, Germany’s positive net asset position rose by €133 billion on the year, bringing it up to €905 billion at the end of 2023. The Bundesbank’s external claims in this segment fell by €174 billion, which was, on balance, exclusively attributable to the Bundesbank’s lower TARGET balance vis-à-vis the ECB.[4] At the same time, the Bundesbank’s external liabilities in other investment declined, as non-euro area counterparties reduced their deposits with the Bank. On balance, the Bundesbank’s net external position in other investment sank by €33 billion. Monetary financial institutions (excluding the central bank) granted additional loans to non-residents and expanded their holdings of currency and deposits. In both segments, negative valuation effects as a result of exchange rate changes reduced the overall effect on outstanding claims, which rose by €19 billion on balance. Non-residents’ deposits with German monetary financial institutions (excluding the Bundesbank) came down by €65 billion. Overall, the balance of monetary financial institutions (excluding the central bank) in other investment rose by €84 billion last year. General government also recorded a rise in its net claims, by €9 billion, in 2023. By contrast, other investment by enterprises and households swelled by €73 billion on balance. At the end of 2023, claims on non-residents arising from other investment had dropped by €17 billion, or 0.4 %, to €3,867 billion across all sectors. External liabilities fell even more sharply; they stood at €2,963 billion at year-end 2023, down €150 billion, or 4.8 %, on the year. 
    Increase in reserve assets
    The Bundesbank’s reserve assets amounted to €292 billion at the end of 2023 and were therefore up by €16 billion on the previous year. They grew only marginally by €1 billion as a result of transactions. Reserve asset holdings increased on the back of positive market price effects, in particular (€18 billion), with the rise in the price of gold dominating. Taken in isolation, the appreciation of the euro against the US dollar and other important currencies brought the value of reserve assets down by €3 billion.
    uncollectable credit claims, changes in sector classifications, changes in the functional category of a financing instrument, as well as statistical discrepancies between the international investment position and the balance of payments due to differing data sources, for example.
    Footnotes:
    The fact that the Eurosystem raised key interest rates was also a factor. 
    Non-transaction-related changes include valuation effects as a result of exchange rate or market price movements and other adjustments. Other adjustments include, for instance, write-downs on uncollectable credit claims, changes in sector classifications, changes in the functional category of a financing instrument, as well as statistical discrepancies between the international investment position and the balance of payments due to differing data sources, for example.
    For more information on transactions in portfolio investment, see Deutsche Bundesbank, German balance of payments in 2023, Monthly Report, March 2024.
    The Bundesbank’s TARGET claims on the ECB dropped by €176 billion in 2023. That was attributable, amongst other things, to the fact that payments from maturing securities under the asset purchase programme (APP) were no longer being reinvested in full. Reinvestments under the APP were discontinued as of July 2023. See Deutsche Bundesbank, German balance of payments in 2023, Monthly Report, March 2024.

    MIL OSI

    MIL OSI German News –

  • MIL-OSI China: Notice of the People’s Bank of China and the National Financial Regulatory Administration on Optimizing the Policy on Minimum Down Payment Ratios for Personal Housing Loans

    Source: Peoples Bank of China

    The People’s Bank of China Shanghai Head Office and branches of provinces, autonomous regions, municipalities directly under the Central Government, and cities specifically designated in the state plan; local offices of the National Financial Regulatory Administration; state-owned commercial banks, the Postal Savings Bank of China, and joint-stock commercial banks:

    To implement the decisions and arrangements made by the Communist Party of China Central Committee and the State Council, support the rigid housing demand of urban and rural residents as well as their diverse needs to improve living conditions, and promote stable and sound development of the property market, the People’s Bank of China and the National Financial Regulatory Administration hereby issue the notice on the following matters concerning the personal housing loan policy：

    For households that borrow loans to buy homes, the minimum down payment ratios for commercial personal mortgage loans shall no longer be distinguished between first-home and second-home loans, but rather be set uniformly at no less than 15 percent.

    Based on the national policy on minimum down payment ratios, the provincial-level branches of the People’s Bank of China and the local offices of the National Financial Regulatory Administration shall adopt city-specific approaches. In line with the regulatory requirements of the local governments, they shall decide on their own whether to apply the policy on minimum down payment ratios on a differentiated basis in the cities within their respective jurisdictions, and they shall set for the cities the floor ratios of minimum down payment.

    The People’s Bank of China

    National Financial Regulatory Administration

    September 24, 2024

    Date of last update Nov. 29 2018

    2024年09月29日

    MIL OSI China News –

  • MIL-OSI Europe: Germany’s international investment position at the end of 2023

    Source: Deutsche Bundesbank in English

    At the end of 2023, Germany’s net external assets totalled €2,964 billion, thus amounting to just over 70% of Germany’s nominal gross domestic product (GDP). Overall, both assets and liabilities vis-à-vis non-residents rose further in 2023. This was especially true of claims and liabilities from cross-border portfolio investment. However, corporate ties resulting from direct investment by German investors also continued to expand in 2023. By contrast, both assets and liabilities from other investment declined. These include loans and trade credits (where these do not constitute direct investment) as well as currency and deposits. However, as German liabilities in this segment fell even more sharply than claims in 2023, the other investment balance also rose. In net terms, Germany’s net external assets at the end of 2023 were €206 billion higher than at the end of 2022. This increase was attributable in large part to the surplus on the German current account and the resulting net capital exports.
    Net external assets rise on the year once again
    At the end of 2023, Germany’s net external assets stood at €2,964 billion. This was slightly more than 70 % of nominal gross domestic product and meant that this ratio remained virtually unchanged on the year. In 2023, the German net external asset position rose by around €206 billion in absolute terms. Claims on non-residents were up on the year by €381 billion (or 3.1 %) to €12,579 billion; liabilities rose by €175 billion (or 1.9%) to €9,616 billion. Claims mainly reflected transaction-related changes, i.e. asset purchases, as well as positive market price effects. The exchange rate effect, meanwhile, was negative: as the euro effectively appreciated against the currencies of its most important trading partners over the course of the year,[1] the value, in euro terms, of German assets abroad tended to drop where they were reported in a foreign currency. Other non-transaction-related adjustments had a positive impact on Germany’s external assets.[2] The rise in German foreign liabilities was mainly attributable to market price effects, which predominantly occurred around year-end, driven by a more favourable inflation outlook and expectations of falling key interest rates.
    The cross-border transactions recorded in the financial account resulted in net capital exports of €250 billion last year, in line with Germany’s current account surplus. Non-transaction-related changes reduced the increase by €44 billion, however. On balance, negative market price and exchange rate effects were contributory factors. Other adjustments made a positive overall contribution to Germany’s external position.
    Surplus in portfolio investment slightly higher than in 2022
    At €807 billion, the portfolio investment balance at the end of 2023 was around €23 billion higher than in the previous year. Securities claims on non-residents slightly outpaced the corresponding liabilities.[3]
    At the end of 2023, resident investors held foreign securities totalling €4,004 billion, up by €392 billion (or 10.9 %) on the previous year. The rise was mainly the result of net purchases of foreign bonds and positive market price effects. The relative strength of the euro, meanwhile, caused mostly negative exchange rate effects on the assets side. Alongside foreign bonds, resident investors also bought foreign investment fund shares and money market papers. However, they sold foreign shares – in small amounts.
    At the end of 2023, non-resident investors held German securities to the tune of €3,197 billion in their portfolios, which was €369 billion (or 13.1 %) more than at the end of 2022. This was mainly the result of positive market price effects, especially in relation to shares and long-term debt securities. Transactions recorded in the financial account also contributed to the build-up of holdings. On balance, non-resident investors almost exclusively bought German long-term debt securities, as well as, to a lesser extent, short-term debt securities. By contrast, they were net sellers of German shares and investment fund shares.
    Drop in the positive balance for financial derivatives
    At the end of 2023, holdings of financial derivatives and employee stock options registered a positive balance of €27 billion. This was, however, only slightly more than half the size of the previous year’s balance. In 2022, Russia’s war of aggression against Ukraine had triggered severe disruptions in the energy markets and caused considerable net capital exports in forward and futures contracts relating to electricity and gas.
    Further expansion in direct investment
    Cross-border corporate ties involving German firms continued to expand in 2023. German outward direct investment was up on the year by a total of €85 billion (3.0 %) to €2,929 billion, an increase that was, on balance, exclusively attributable to transactions. In particular, German investors boosted their equity capital in enterprises abroad, but also issued additional loans to affiliated group entities. The effective appreciation of the euro meant that exchange rate effects had a negative impact on Germany’s outward foreign direct investment stocks. These valuation losses were, however, largely offset by positive other adjustments and slightly positive market price effects. 
    Non-resident enterprises increased their direct investment in Germany by €26 billion (1.3 %) to €1,995 billion in 2023, with transactions accounting for just over two-thirds of this total. Non-resident investors augmented their equity capital in German enterprises but reduced their intra-group lending to domestic enterprises. 
    On balance, Germany’s direct investment balance at the end of 2023 amounted to around €933 billion and was therefore €59 billion higher than at year-end 2022.
    Other investment: net claims higher
    In other investment, comprising loans and trade credits (where these do not constitute direct investment) as well as currency and deposits amongst others, Germany’s positive net asset position rose by €133 billion on the year, bringing it up to €905 billion at the end of 2023. The Bundesbank’s external claims in this segment fell by €174 billion, which was, on balance, exclusively attributable to the Bundesbank’s lower TARGET balance vis-à-vis the ECB.[4] At the same time, the Bundesbank’s external liabilities in other investment declined, as non-euro area counterparties reduced their deposits with the Bank. On balance, the Bundesbank’s net external position in other investment sank by €33 billion. Monetary financial institutions (excluding the central bank) granted additional loans to non-residents and expanded their holdings of currency and deposits. In both segments, negative valuation effects as a result of exchange rate changes reduced the overall effect on outstanding claims, which rose by €19 billion on balance. Non-residents’ deposits with German monetary financial institutions (excluding the Bundesbank) came down by €65 billion. Overall, the balance of monetary financial institutions (excluding the central bank) in other investment rose by €84 billion last year. General government also recorded a rise in its net claims, by €9 billion, in 2023. By contrast, other investment by enterprises and households swelled by €73 billion on balance. At the end of 2023, claims on non-residents arising from other investment had dropped by €17 billion, or 0.4 %, to €3,867 billion across all sectors. External liabilities fell even more sharply; they stood at €2,963 billion at year-end 2023, down €150 billion, or 4.8 %, on the year. 
    Increase in reserve assets
    The Bundesbank’s reserve assets amounted to €292 billion at the end of 2023 and were therefore up by €16 billion on the previous year. They grew only marginally by €1 billion as a result of transactions. Reserve asset holdings increased on the back of positive market price effects, in particular (€18 billion), with the rise in the price of gold dominating. Taken in isolation, the appreciation of the euro against the US dollar and other important currencies brought the value of reserve assets down by €3 billion.
    uncollectable credit claims, changes in sector classifications, changes in the functional category of a financing instrument, as well as statistical discrepancies between the international investment position and the balance of payments due to differing data sources, for example.
    Footnotes:
    The fact that the Eurosystem raised key interest rates was also a factor. 
    Non-transaction-related changes include valuation effects as a result of exchange rate or market price movements and other adjustments. Other adjustments include, for instance, write-downs on uncollectable credit claims, changes in sector classifications, changes in the functional category of a financing instrument, as well as statistical discrepancies between the international investment position and the balance of payments due to differing data sources, for example.
    For more information on transactions in portfolio investment, see Deutsche Bundesbank, German balance of payments in 2023, Monthly Report, March 2024.
    The Bundesbank’s TARGET claims on the ECB dropped by €176 billion in 2023. That was attributable, amongst other things, to the fact that payments from maturing securities under the asset purchase programme (APP) were no longer being reinvested in full. Reinvestments under the APP were discontinued as of July 2023. See Deutsche Bundesbank, German balance of payments in 2023, Monthly Report, March 2024.

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