NewzIntel.com

Category: Trade

  • MIL-OSI Global: Women having surgery to treat pelvic organ prolapse don’t always need a hysterectomy

    Source: The Conversation – Canada – By Erin A. Brennand, Gynecologist & Associate Professor, Cumming School of Medicine, University of Calgary

    For decades, the standard surgical approach for treating pelvic organ prolapse has generally included a hysterectomy, or removal of the uterus. (Shutterstock)

    Pelvic organ prolapse (POP) affects up to half of all women during their lifetime, and one in eight will have surgery to treat it by the age of 85. Yet, despite how common POP is, the public’s awareness and understanding of this condition remains limited.

    Most people are unfamiliar with POP until they are personally affected, and even then, are often unaware of the different surgical options available to manage it. Our team of medical professionals and health researchers aims to change this.

    POP occurs when pelvic organs, like the uterus, vagina, bladder or bowel, shift downward and sag into, or even through, the vaginal canal. This condition can lead to a range of physical symptoms, with pelvic pressure, urinary incontinence and a vaginal bulge being some of the most common complaints.

    POP can be physically uncomfortable and disruptive to a woman’s quality of life, and the emotional and social impact can be profound. Many affected women report lowered self-esteem, avoidance of intimacy, and heightened anxiety or depression due to the persistent, painful and often stigmatized nature of the condition.

    Hysterectomy is the default

    For decades, the standard surgical approach for treating POP has generally included a hysterectomy, or removal of the uterus. In many cases, the uterus itself is not part of the prolapse, but removing it allows surgeons to access pelvic ligaments and tissues for securing the vaginal walls. Almost one in three Canadian women aged 60 and older have had their uterus removed to treat a number of gynecologic conditions, including POP.

    POP can be physically uncomfortable and disruptive to a woman’s quality of life, and the emotional and social impact can be profound.
    (Shutterstock)

    This surgery is deeply embedded in medical practice with the long-standing belief that removing the uterus is necessary to achieve durable repair of POP, and that the surgery has minimal impact on women’s overall health.

    Newer evidence, including recent systematic reviews, questions whether hysterectomy is the only effective approach for treating POP in women. Studies have shown that uterine-preserving procedures carry lower surgical risks compared to hysterectomy surgeries, while providing similar effectiveness in reducing prolapse symptoms.

    Adding to this body of evidence, our team of urogynecologists and health researchers developed the Hysterectomy vs. Uterine Preserving Prolapse Surgery (HUPPS) study to generate real-world evidence about outcomes after POP surgery.

    Over three years, we enrolled 321 women with POP affecting the top of their vagina who lived in Calgary and surrounding areas of Alberta. Importantly, each woman was free to consider minimally invasive hysterectomy or uterine-preserving POP surgery, based on their own values, preferences and consideration of the evidence. Almost half (47 per cent) chose the uterine-preserving route, which demonstrated substantial interest among Canadian women to keep their uterus when given the option.

    However, in many hospitals in Canada, hysterectomy remains the primary approach for surgical treatment of POP, partly due to historical and educational clinical practices.

    Surgical outcomes

    At one year post-surgery, we found that 17.2 per cent of women who received a hysterectomy surgery experienced recurrence of POP, compared to only 7.5 per cent of women who received a uterine-preserving (UP) surgery. We then statistically accounted for patient differences such as age, body weight and the initial severity of their POP, and found that women who had uterine-preserving surgery indeed experienced approximately half the risk of POP recurrence than the women who had a hysterectomy.

    Our data also showed other benefits of uterine-preserving surgery, including shorter operating time, shorter hospital stay, less post-operative opioid pain relief and fewer complications overall.

    Why preserve the uterus?

    Some women want to avoid hysterectomy due to personal or cultural beliefs about removing their uterus, while others are concerned about the potential long-term effects on their health.
    (Shutterstock)

    Emerging research suggests there can be long-term effects of hysterectomy. For example, hysterectomy may be associated with elevated risk of chronic health issues such as cardiovascular disease and neurological disorders. These risks are higher for people who undergo hysterectomy at younger ages.

    However, there can be instances where patients may want to consider hysterectomy as part of their POP repair. These include a history of repeated abnormal pap smears signalling a higher risk of developing cervical cancer in the future, or in cases where it is strongly recommended to them by a surgeon, such as when precancerous cells have been determined by a biopsy of the uterus.

    For people without these conditions, there is no medical need to remove the uterus.

    However, the historical hysterectomy-based approach to POP assumes that all women want the same approach to their POP treatment. However, during the past five years, our team has noticed growing inquiries from patients around keeping their uterus, and questions about the risks and benefits of a hysterectomy.

    Some women want to avoid hysterectomy due to personal or cultural beliefs about removing their uterus, while others are concerned about the potential long-term effects on their health. The International Urogynecological Association has a helpful pamphlet with more information on this topic.

    The importance of patient-centred care

    Our research findings, combined with growing evidence on surgical treatment of POP, encourage an essential shift in the field of gynecological surgery towards an approach that offers all women a greater sense of autonomy.

    The HUPPS study demonstrates that when people are presented with evidence-based information on the risks and benefits, they can choose the option that aligns with their personal values and long-term health goals and still achieve a good surgical outcome.

    For women in Canada who are affected by POP, this means ensuring that two options are offered and accessible to them: both hysterectomy and uterine-preserving surgeries. If we can achieve a permanent shift in the medical landscape towards more informed, personalized and patient-centred care, it will change women’s lives for the better.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Women having surgery to treat pelvic organ prolapse don’t always need a hysterectomy – https://theconversation.com/women-having-surgery-to-treat-pelvic-organ-prolapse-dont-always-need-a-hysterectomy-241755

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: Joint Statement: Official visit of Shri Narendra Modi, Prime Minister of India to Kuwait (December 21-22, 2024)

    Source: Government of India

    Posted On: 22 DEC 2024 7:46PM by PIB Delhi

    At the invitation of His Highness the Amir of the State of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Prime Minister of India His Excellency Shri Narendra Modi paid an official visit to Kuwait on 21-22 December 2024. This was his first visit to Kuwait. Prime Minister Shri Narendra Modi attended the opening ceremony of the 26th Arabian Gulf Cup in Kuwait on 21 December 2024 as the ‘Guest of Honour’ of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.

     His Highness the Amir of the State of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and His Highness Sheikh Sabah Al-Khaled Al-Sabah Al-Hamad Al-Mubarak Al-Sabah, Crown Prince of the State of Kuwait received Prime Minister Shri Narendra Modi at Bayan Palace on 22 December 2024 and was accorded a ceremonial welcome. Prime Minister Shri Narendra Modi expressed his deep appreciation to His Highness the Amir of the State of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah for conferring on him the highest award of the State of Kuwait ‘The Order of Mubarak Al Kabeer’. The leaders exchanged views on bilateral, global, regional and multilateral issues of mutual interest.

    Given the traditional, close and friendly bilateral relations and desire to deepen cooperation in all fields, the two leaders agreed to elevate the relations between India and Kuwait to a ‘Strategic Partnership’. The leaders stressed that it is in line with the common interests of the two countries and for the mutual benefit of the two peoples. Establishment of a strategic partnership between both countries will further broad-base and deepen our long-standing historical ties.

    Prime Minister Shri Narendra Modi held bilateral talks with His Highness Sheikh Ahmad Abdullah Al-Ahmad Al-Jaber Al-Mubarak Al-Sabah, Prime Minister of the State of Kuwait. In light of the newly established strategic partnership, the two sides reaffirmed their commitment to further strengthen bilateral relations through comprehensive and structured cooperation in key areas, including political, trade, investment, defence, security, energy, culture, education, technology and people-to-people ties.

    The two sides recalled the centuries-old historical ties rooted in shared history and cultural affinities. They noted with satisfaction the regular interactions at various levels which have helped in generating and sustaining the momentum in the multifaceted bilateral cooperation. Both sides emphasized on sustaining the recent momentum in high-level exchanges through regular bilateral exchanges at Ministerial and senior-official levels.

    The two sides welcomed the recent establishment of a Joint Commission on Cooperation (JCC) between India and Kuwait. The JCC will be an institutional mechanism to review and monitor the entire spectrum of the bilateral relations between the two countries and will be headed by the Foreign Ministers of both countries. To further expand our bilateral cooperation across various fields, new Joint Working Groups (JWGs) have been set up in areas of trade, investments, education and skill development, science and technology, security and counter-terrorism, agriculture, and culture, in addition to the existing JWGs on Health, Manpower and Hydrocarbons. Both sides emphasized on convening the meetings of the JCC and the JWGs under it at an early date.

    Both sides noted that trade has been an enduring link between the two countries and emphasized on the potential for further growth and diversification in bilateral trade. They also emphasized on the need for promoting exchange of business delegations and strengthening institutional linkages.

     Recognizing that the Indian economy is one of the fastest growing emerging major economies and acknowledging Kuwait’s significant investment capacity, both sides discussed various avenues for investments in India. The Kuwaiti side welcomed steps taken by India in making a conducive environment for foreign direct investments and foreign institutional investments, and expressed interest to explore investment opportunities in different sectors, including technology, tourism, healthcare, food-security, logistics and others. They recognized the need for closer and greater engagement between investment authorities in Kuwait with Indian institutions, companies and funds. They encouraged companies of both countries to invest and participate in infrastructure projects. They also directed the concerned authorities of both countries to fast-track and complete the ongoing negotiations on the Bilateral Investment Treaty.

     Both sides discussed ways to enhance their bilateral partnership in the energy sector. While expressing satisfaction at the bilateral energy trade, they agreed that potential exists to further enhance it. They discussed avenues to transform the cooperation from a buyer-seller relationship to a comprehensive partnership with greater collaboration in upstream and downstream sectors. Both sides expressed keenness to support companies of the two countries to increase cooperation in the fields of exploration and production of oil and gas, refining, engineering services, petrochemical industries, new and renewable energy. Both sides also agreed to discuss participation by Kuwait in India’s Strategic Petroleum Reserve Programme.

    Both sides agreed that defence is an important component of the strategic partnership between India and Kuwait. The two sides welcomed the signing of the MoU in the field of Defence that will provide the required framework to further strengthen bilateral defence ties, including through joint military exercises, training of defence personnel, coastal defence, maritime safety, joint development and production of defence equipment.

     The two sides unequivocally condemned terrorism in all its forms and manifestations, including cross-border terrorism and called for disrupting of terrorism financing networks and safe havens, and dismantling of terror infrastructure. Expressing appreciation of their ongoing bilateral cooperation in the area of security, both sides agreed to enhance cooperation in counter-terrorism operations, information and intelligence sharing, developing and exchanging experiences, best practices and technologies, capacity building and to strengthen cooperation in law enforcement, anti-money laundering, drug-trafficking and other transnational crimes. The two sides discussed ways and means to promote cooperation in cybersecurity, including prevention of use of cyberspace for terrorism, radicalisation and for disturbing social harmony. The Indian side praised the results of the fourth high-level conference on “Enhancing International Cooperation in Combating Terrorism and Building Resilient Mechanisms for Border Security – The Kuwait Phase of the Dushanbe Process,” which was hosted by the State of Kuwait on November 4-5, 2024.

     Both sides acknowledged health cooperation as one of the important pillars of bilateral ties and expressed their commitment to further strengthen collaboration in this important sector. Both sides appreciated the bilateral cooperation during the COVID- 19 pandemic. They discussed the possibility of setting up of Indian pharmaceutical manufacturing plants in Kuwait. They also expressed their intent to strengthen cooperation in the field of medical products regulation in the ongoing discussions on an MoU between the drug regulatory authorities.

     The two sides expressed interest in pursuing deeper collaboration in the area of technology including emerging technologies, semiconductors and artificial intelligence. They discussed avenues to explore B2B cooperation, furthering e-Governance, and sharing best practices for facilitating industries/companies of both countries in the policies and regulation in the electronics and IT sector.

     The Kuwaiti side also expressed interest in cooperation with India to ensure its food-security. Both sides discussed various avenues for collaboration including investments by Kuwaiti companies in food parks in India.

     The Indian side welcomed Kuwait’s decision to become a member of the International Solar Alliance (ISA), marking a significant step towards collaboration in developing and deploying low-carbon growth trajectories and fostering sustainable energy solutions. Both sides agreed to work closely towards increasing the deployment of solar energy across the globe within ISA.

     Both sides noted the recent meetings between the civil aviation authorities of both countries. The two sides discussed the increase of bilateral flight seat capacities and associated issues. They agreed to continue discussions in order to reach a mutually acceptable solution at an early date.

    Appreciating the renewal of the Cultural Exchange Programme (CEP) for 2025-2029, which will facilitate greater cultural exchanges in arts, music, and literature festivals, the two sides reaffirmed their commitment on further enhancing people to people contacts and strengthening the cultural cooperation.

     Both sides expressed satisfaction at the signing of the Executive Program on Cooperation in the Field of Sports for 2025-2028. which will strengthen cooperation in the area of sports including mutual exchange and visits of sportsmen, organising workshops, seminars and conferences, exchange of sports publications between both nations.

     Both sides highlighted that education is an important area of cooperation including strengthening institutional linkages and exchanges between higher educational institutions of both countries. Both sides also expressed interest in collaborating on Educational Technology, exploring opportunities for online learning platforms and digital libraries to modernize educational infrastructure.

     As part of the activities under the MoU between Sheikh Saud Al Nasser Al Sabah Kuwaiti Diplomatic Institute and the Sushma Swaraj Institute of Foreign Service (SSIFS), both sides welcomed the proposal to organize the Special Course for diplomats and Officers from Kuwait at SSIFS in New Delhi.

     Both sides acknowledged that centuries old people-to-people ties represent a fundamental pillar of the historic India-Kuwait relationship. The Kuwaiti leadership expressed deep appreciation for the role and contribution made by the Indian community in Kuwait for the progress and development of their host country, noting that Indian citizens in Kuwait are highly respected for their peaceful and hard-working nature. Prime Minister Shri Narendra Modi conveyed his appreciation to the leadership of Kuwait for ensuring the welfare and well-being of this large and vibrant Indian community in Kuwait.

     The two sides stressed upon the depth and importance of long standing and historical cooperation in the field of manpower mobility and human resources. Both sides agreed to hold regular meetings of Consular Dialogue as well as Labour and Manpower Dialogue to address issues related to expatriates, labour mobility and matters of mutual interest.

    The two sides appreciated the excellent coordination between both sides in the UN and other multilateral fora. The Indian side welcomed Kuwait’s entry as ‘dialogue partner’ in SCO during India’s Presidency of Shanghai Cooperation Organisation (SCO) in 2023. The Indian side also appreciated Kuwait’s active role in the Asian Cooperation Dialogue (ACD). The Kuwaiti side highlighted the importance of making the necessary efforts to explore the possibility of transforming the ACD into a regional organisation.

     Prime Minister Shri Narendra Modi congratulated His Highness the Amir on Kuwait’s assumption of the Presidency of GCC this year and expressed confidence that the growing India-GCC cooperation will be further strengthened under his visionary leadership. Both sides welcomed the outcomes of the inaugural India-GCC Joint Ministerial Meeting for Strategic Dialogue at the level of Foreign Ministers held in Riyadh on 9 September 2024. The Kuwaiti side as the current Chair of GCC assured full support for deepening of the India-GCC cooperation under the recently adopted Joint Action Plan in areas including health, trade, security, agriculture and food security, transportation, energy, culture, amongst others. Both sides also stressed the importance of early conclusion of the India-GCC Free Trade Agreement.

    In the context of the UN reforms, both leaders emphasized the importance of an effective multilateral system, centered on a UN reflective of contemporary realities, as a key factor in tackling global challenges. The two sides stressed the need for the UN reforms, including of the Security Council through expansion in both categories of membership, to make it more representative, credible and effective.

     The following documents were signed/exchanged during the visit, which will further deepen the multifaceted bilateral relationship as well as open avenues for newer areas of cooperation:● MoU between India and Kuwait on Cooperation in the field of Defence.

    ● Cultural Exchange Programme between India and Kuwait for the years 2025-2029.

    ● Executive Programme between India and Kuwait on Cooperation in the field of Sports for 2025-2028 between the Ministry of Youth Affairs and Sports, Government of India and Public Authority for Youth and Sports, Government of the State of Kuwait.

    ● Kuwait’s membership of International Solar Alliance (ISA).

     Prime Minister Shri Narendra Modi thanked His Highness the Amir of the State of Kuwait for the warm hospitality accorded to him and his delegation. The visit reaffirmed the strong bonds of friendship and cooperation between India and Kuwait. The leaders expressed optimism that this renewed partnership would continue to grow, benefiting the people of both countries and contributing to regional and global stability. Prime Minister Shri Narendra Modi also invited His Highness the Amir of the State of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince His Highness Sheikh Sabah Al-Khaled Al-Sabah Al-Hamad Al-Mubarak Al-Sabah, and His Highness Sheikh Ahmad Abdullah Al-Ahmad Al-Jaber Al-Mubarak Al-Sabah, Prime Minister of the State of Kuwait to visit India.

    *****

    MJPS/ST/SKS

    (Release ID: 2087074) Visitor Counter : 10

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Department of Consumer Affair’s to launch ‘Jago Grahak Jago App,’ ‘Jagriti App,’ and ‘Jagriti Dashboard” on 24th December 2024 on National Consumer Day 2024 to protect Consumers from the Dark Patterns

    Source: Government of India (2)

    Department of Consumer Affair’s to launch ‘Jago Grahak Jago App,’ ‘Jagriti App,’ and ‘Jagriti Dashboard” on 24th December 2024 on National Consumer Day 2024 to protect Consumers from the Dark Patterns

    The Apps would considerably enhance the capability of the CCPA in taking suo moto action against dark patterns.

    CCPA had earlier taken  suo moto cognizance of Dark Pattern adopted by e-Commerce platforms. E- Commerce platforms take  corrective action after CCPA Intervention

    Posted On: 22 DEC 2024 3:16PM by PIB Delhi

    Department of Consumer Affairs will  launch ‘Jago Grahak Jago App,’ ‘Jagriti App,’ and ‘Jagriti Dashboard” for public use on National Consumers Day 2024 i.e. 24th December, 2024.

    As part of the government’s broader strategy and ongoing efforts to strengthen consumer protection in the digital era and curb unfair practices in e-commerce and online services, the Central Consumer Protection Authority notified the Guidelines for Prevention and Regulation of Dark Patterns in 2023 and specified 13 dark patterns, namely: False urgency, Basket Sneaking, Confirm shaming, forced action, Subscription trap, Interface Interference, Bait and switch, Drip Pricing, Disguised Advertisements and Nagging, Trick Wording, Saas Billing and Rogue Malwares.

    CCPA had earlier issued notices to IndiGo Airlines and BookMyShow under Consumer Protection Act, 2019 for alleged Misleading Advertisement/Unfair Trade Practices in the form of deceptive design patterns/dark patterns. 

    It came to the notice of the Central Consumer Protection Authority (CCPA) that BookMyShow had allegedly imposed an extra charge on customers after the booking of confirmed tickets. Re. 1 per ticket was automatically added as contribution towards ‘BookASmile’ in the form of pre-tick without consent of the consumer. This amounted to ‘Basket Sneaking’ as defined under the clause (2) of Annexure 1 of Guidelines for Prevention and Regulation of Dark Patterns, 2023. After CCPA’s intervention  BookMyShow addressed the issue of ‘Basket Sneaking’ by giving customers are an option to choose whether or not they wish to contribute towards BookASmile.

    Based on the grievances lodged at National Consumer Helpline, the Central Consumer Protection Authority issued notice to InterGlobe Aviation Limited (IndiGo Airline) for alleged unfair trade practices / dark pattern pertaining to ‘Confirm Shaming’ on Indigo Airlines App and Lack of Transparent Communication on Seat Assignment.

    After the CCPA intervention, IndiGo Airline has resolved the issue by changing the wording to “No, I will not add to the trip”, which ensures clarity and neutrality. The wordings used earlier were  “No I will take risk”, which amounted to ‘confirm shaming’ which is a Dark Pattern. In another issue, the Airline was directed to address the issue with the “Skip” button on the “Selection of Seat” page and to undertake a comprehensive re-examination and redesign of their web check-in page. Accordingly, the airline addressed the issue of ‘Preferential Seating’ by modification of their website/app by providing a disclaimer on the left side of “skip button” where it is written that “You can skip preferred seat selection and complete your booking. IndiGO will auto-assign a seat prior to your travel”.

    As part of its legislative intent, CCPA held several meetings with industry stakeholders and requested  them to refrain from using Dark Patterns which amount to Unfair Trade Practice under the Consumer Protection Act 2019. CCPA has also focused on expanding its consumer outreach by utilizing its social media platforms through informative posts, videos and stories on dark patterns. CCPA has also trained it’s team at National Consumer Helpline to effectively address the grievances pertaining to Dark Patterns.

    Department of Consumer Affairs is now also equipped with means and resources to identify dark patterns on e-commerce platforms and is soon going to empower consumers with these tools. As part of the intensive research done by students, Prince Aman and Nameet Mishra, NCC LAB, Department of Electronics Engineering, IIT(BHU), three apps have been coded, namely; ‘Jago Grahak Jago App,’ ‘Jagriti App,’ and ‘Jagriti Dashboard’.   These are part of an intelligent cyber-physical system, which operates in real-time and runs on the Airawat AI Supercomputer under the National Supercomputing Mission for AI and Data Analytics. This innovative system analyses existing text and design elements on e-commerce platforms to determine whether they are being used to influence consumer psychology.

    The ‘Jago Grahak Jago App,’ provides essential e-commerce information about all URLs during a consumer’s online activities, alerting them if any URL may be unsafe and requires caution. Meanwhile, the ‘Jagriti App,’ allows users to report URLs where they suspect the presence of one or more dark patterns declared illegal. These reports are then registered as complaints to the Central Consumer Protection Authority (CCPA) for possible redressal and subsequent action. Additionally, the CCPA is being strengthened with the ‘Jagriti Dashboard’ which is used to generate real-time reports on e-commerce URLs for the presence of the aforementioned dark patterns, enhancing the capability to monitor and regulate online consumer interactions effectively. This solution will aid the CCPA in identifying dark patterns, speeding up the resolution of consumer disputes and will go a long way in curbing practices that are detrimental to consumer interests.

    Through above initiatives, Department endeavours to:

    • create a transparent and fair digital marketplace where consumers can make informed decisions without being tricked or coerced;
    • educate consumers about their rights;
    • regulate e-commerce platforms to prevent practices such as subscription traps, where consumers are unknowingly signed up for recurring payments, or misleading product offers and
    • Encourage companies to adopt ethical design practices that prioritize consumer rights and transparency

     

    ***

    AD/CNAN

     

    (Release ID: 2086980) Visitor Counter : 33

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Recommendations of the 55th Meeting of the GST Council

    Source: Government of India

    Recommendations of the 55th Meeting of the GST Council

    GST Council recommends reduction in GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5%

    GST council also recommends to fully exempt GST on gene therapy

    GST Council recommends exemption of GST on contributions by general insurance companies from third-party motor vehicle premiums for Motor Vehicle Accident Fund

    GST Council recommends no GST on transaction of vouchers as they are neither supply of goods nor supply of services. The provisions related to vouchers is also being simplified.

    GST Council clarifies that no GST is payable on ‘penal charges’ levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms

    GST Council recommends reduction of payment of pre-deposit for filing an appeal before the Appellate Authority in respect of an order passed which involves only penalty amount

    Posted On: 21 DEC 2024 8:23PM by PIB Delhi

    Jaisalmer, Rajasthan, 21 st December 2024

    The 55th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in Jaisalmer, Rajasthan, today.

    The meeting was also attended by Union Minister of State for Finance Shri Pankaj Chaudhary, Chief Ministers of Goa, Haryana, Jammu and Kashmir, Meghalaya and Odisha; Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, and Telangana; besides Finance Ministers of States & UTs (with legislature) and senior officers of the Ministry of Finance & States/ UTs.

     

    The GST Council inter-alia made the following recommendations relating to changes in GST tax rates, provide relief to individuals,measures for facilitation of trade and measures for streamlining compliances in GST.

    A. Changes in GST rates of goods

    GOODS

    1.   To reduce the GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5%.

    2.   To exempt GST on gene therapy.

    3.  To extend IGST exemption to systems, sub-systems, equipment, parts, sub-parts, tools, test equipment, software meant assembly/manufacture of LRSAM system under Notification 19/2019-Customs.

    4.         To reduce the rate of Compensation Cess to 0.1% on supplies to merchant exporters at par with GST rate on such supplies.

    5. To exempt from IGST imports of all equipment and consumable samples by Inspection Team of the International Atomic Energy Agency (IAEA) subject to specified conditions.

    6.To extend the concessional 5% GST rate on food inputs of food preparations under HSN 19 or 21 that are supplied for food preparations intended for free distribution to economically weaker sections under a government program subject to the existing conditions.

    SERVICES

    1. To bring supply of the sponsorship services provided by the body corporates under Forward Charge Mechanism.

     

    1. To exempt GST on the contributions made by general insurance companies from the third-party motor vehicle premiums collected by them to the Motor Vehicle Accident Fund, constituted under section 164B of the Motor Vehicles Act, 1988. This fund is constituted for providing compensation/ cashless treatment to the victims of road accidents including hit and run cases.

     

    1. To omit the definition of declared tariff and suitably amend the definition of specified premises (from the services rate and exemption notifications) to link it with actual value of supply of any unit of accommodation provided by the hotel and to make the rate of GST applicable on restaurant services in such hotels, for a given financial year, dependent upon the ‘value of supply’ of units of accommodation made in the preceding financial year, i.e. 18% with ITC if the ‘value of supply’ exceeded Rs. 7,500 for any unit of accommodation in the preceding financial year, and 5% without ITC otherwise. Further, to give an option to pay tax on restaurant service in hotels at the rate of 18% with ITC, if the hotel so chooses, by giving a declaration to that effect on or before the beginning of the financial year or on obtaining registration.The above changes to be made effective from 01.04.2025 to avoid any transition difficulties.

     

    1. To exclude taxpayers registered under composition levy scheme from the entry at Sr. No. 5AB introduced vide Notification No. 09/2024-CTR dated 08.10.2024 vide which renting of any commercial/ immovable property (other than residential dwelling) by unregistered person to registered person was brought under reverse charge mechanism. Further, to regularize the period from the date when the notification No. 09/2024-CTR dated 08.10.2024, became effective i.e. from 10.10.2024 till the date of issuance of the proposed notification on “as is where is” basis.

     

    Other changes relating to goods and services

    1.         To increase the GST rate from 12% to 18 % on sale of all old and used vehicles, including EVs other than those specified at 18% –Sale of old and used petrol vehicles of engine capacity of 1200 cc or more & of length of 4000 mm or more; diesel vehicles of engine capacity of 1500 cc or more & of length of 4000 mm and SUVs.[Note: GST is applicable only on the Value that represents Margin of the Supplier, that is, the difference between the Purchase price and Selling price (depreciated value if depreciation is claimed) and not on the value of the vehicle. Also, it is not applicable in case of unregistered persons.]

     

    2. To clarify that Autoclaved Aerated Concrete (ACC) blocks containing more than 50% fly ash content will fall under HS 6815 and attract 12% GST.

     

    3. To clarify that pepper whether fresh green or dried pepper and raisins when supplied by an agriculturist is not liable to GST.

     

    4.  To amend the definition of ‘pre-packaged and labelled’ to cover all commodities that are intended for retail sale and containing not more than 25 kg or 25 litre, which are ‘pre-packed’ as defined under the Legal Metrology Act, or a label affixed thereto is required to bear the declarations under the provisions of the Act and rules.

     

    5. To clarify that ready to eat popcorn which is mixed with salt and spices are classifiable under HS 2106 90 99 and attracts 5% GST if supplied as other than pre-packaged and labelled and 12% GST if supplied as pre-packaged and labelled. However, when popcorn is mixed with sugar thereby changing its character to sugar confectionary (eg caramel popcorn), it would be classifiable under HS 1704 90 90 and attract 18% GST. It has been decided to regularise the issues for the past on “as is where is” basis.(Note: There is no new imposition of any tax in this regard and is merely a clarification as certain field units were demanding different tax rates on the same. Therefore, it is a clarification being recommended by the GST Council to settle the disputes arising out of interpretation.)

    6. To clarify that the Explanation in Sl. No. 52B in notification No. 1/2017- Compensation Cess (Rate) dated 28.6.2017 regarding ground clearance is applicable with effect from 26.07.2023.

    7.         To clarify that RBI regulated Payment Aggregators are eligible for the exemption under entry at Sl. No. 34 of notification No. 12/2017-CT(R) dated 28.06.2017 since they fall within the ambit of ‘acquiring bank’ as defined in the said entry.  To also clarify that this exemption does not cover payment gateway (PG) and other fintech services which do not involve settlement of funds.

    8.  To clarify that no GST is payable on the ‘penal charges’ levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms.

     

    B.        MEASURES FOR FACILITATION OF TRADE

    1.         Amendment in Schedule III of CGST Act, 2017

    • To insertclause (aa) in paragraph 8 of Schedule III of the CGST Act, 2017w.e.f.01.07.2017, to explicitly provide that supply of goods warehoused in a Special Economic Zone (SEZ) or Free Trade Warehousing Zone (FTWZ) to any person before clearance of such goods for exports or to the Domestic Tariff Area, shall be treated neither as supply of goods nor as supply of services.
    • This brings transactions relating to supply of goods warehoused in SEZ/FTWZ at par with the existing provision in GST for transactions in Customs bonded warehouse.

    2.         Issues pertaining to taxability of Vouchers

    In a significant move to address long-standing concerns regarding the taxability of vouchers under GST, the GST Council made the following recommendations:

    1. To omit sections 12(4) and 13(4) from CGST Act, 2017 and rule 32(6) from CGST Rules, 2017 to resolve ambiguities in the treatment of vouchers.
    2. To issue clarification on the following issues:
    1. Transactions in vouchers shall be treated neither as a supply of goods nor as a supply of services.
    2. Distribution of vouchers on principal-to-principal basis shall not be subject to GST. However, where vouchers are distributed on principal-to-agent basis, the commission/fee or any other amount charged by the agent for such distribution is taxable under GST.
    3. Additional services such as advertisement, co-branding, marketing and promotion, customization and technology support, customer support etc. related to vouchers would be leviable to GST on the amount paid for these services.
    4. Unredeemed vouchers (breakage) would not be considered as supply under GST and no GST is payable on income booked in the accounts in respect of breakage.

    3. Issuance of clarifications through the circulars to remove ambiguity and legal disputes in certain issues.

    • To issue circulars to provide clarity in the following issues due to varied interpretations by the field formations:
    1. Clarification regarding requirement of reversal of Input Tax Credit by electronic commerce operators in respect of supplies made under section 9(5) of CGST Act, 2017: The GST Council recommended that no proportional reversal of ITC under section 17 (1) or section 17 (2) of CGST Act, 2017 is required to be made by the ECO in respect of supplies for which they are required to pay tax under section 9(5) of CGST Act, 2017.
    2. Clarification on availability of Input Tax Credit as per section 16(2)(b) of CGST Act, 2017 in respect of goods which have been delivered by the supplier at his (supplier’s) place of business : The GST Council recommended to clarify that in an Ex-Works contract, where goods are delivered by the supplier to the recipient or a transporter at the supplier’s place of business, and the property in goods transfers to the recipient at that point, the goods are considered to be “received” by the recipient under section 16(2)(b) of CGST Act, 2017 and the recipient may claim Input Tax Credit (ITC) on such goods, subject to the conditions outlined in Sections 16 and 17 of the CGST Act, 2017.
    3. Clarification regarding applicability of late fee for delay in furnishing of FORM GSTR-9C and providing waiver of late fee on delayed furnishing of FORM GSTR-9C for the period from 2017-18 to 2022-23:
    1. The GST Council recommended to clarify through a circular that the late fee under Section 47(2) of the CGST Act, 2017 is leviable for the delay in filing the complete annual return under Section 44 of the CGST Act, 2017, which includes both FORM GSTR-9 (Annual Return) and FORM GSTR-9C (Reconciliation Statement), where applicable.
    2. For the annual returns pertaining to the period 2017-18 to 2022-23, the GST Council also recommended to issue notification under section 128 of CGST Act, 2017 for waiver of the amount of late fee for delayed filing of FORM GSTR-9C, which is in excess of the amount of late fee payable till the date of filing of FORM GSTR-9 for the said financial years, provided the said FORM GSTR-9C is filed on or before 31st March 2025.

     

    C.        MEASURES FOR STREAMLINING COMPLIANCES IN GST

    1.         Insertion of new provision for Track and Trace Mechanism

    • To insert an enabling provision in CGST Act, 2017 through Section 148A so as to empower the Government to enforce the Track and Trace Mechanism for specifiedevasion prone commodities.
    • The system shall be based on a Unique Identification Marking which shall be affixed on the said goods or the packages thereof. This will provide a legal framework for developing such a system and will help in implementation of mechanism for tracing specified commodities throughout the supply chain.

    2.         Clarification regarding recording of correct details of name of the State of the un-registered recipient as well as correct declaration of place of supply in respect of supply of ‘Online Services’

    • To clarify that in respect of supply of ‘Online Services’ such as supply of online money gaming, OIDAR services, etc. to unregistered recipients, the supplier is required to mandatorily record the name of the State of the unregistered recipient on the tax invoice and such name of State of recipient shall bedeemed to be the address on record of the recipient for the purpose of section 12(2)(b) of IGST Act, 2017 read with proviso to rule 46(f) of CGST Rules, 2017

     

    D.     OTHER MEASURES PERTAINING TO LAW & PROCEDURE

    1.         Amendment in section 17(5)(d) of CGSTAct, 2017

    • To align the provisions of section 17(5)(d) of CGST Act, 2017 with the intent of the said section, the Council has recommended amending section 17(5)(d) of CGST Act, 2017, to replace the phrase “plant or machinery” with “plant and machinery”, retrospectively, with effect from 01.07.2017, so that the said phrase may be interpreted as per the Explanation at the end of section 17 of CGST Act, 2017.

    2.         Amendment in section 107 and section 112 of CGST Act, 2017 to provide for payment of pre-deposit for filing an appeal in respect of an order passed which involves only penalty amount.

    • To amend the proviso to section 107(6) of CGST Act, 2017 providing for payment of pre-deposit at 10% instead of 25 %for filing appeals before Appellate Authority in cases involving only demand of penalty without involving the demand of tax.
    • To insert a new proviso to section 112(8) of CGST Act, 2017 providing for payment of pre-deposit at10%for filing appeals before Appellate Tribunalin cases involving only demand of penalty without involving the demand of tax.

    3. Amendment in section 2(69) of CGST Act, 2017 to insert an Explanation regarding definitions of Local Fund and Municipal Fund: To amend clause (c) of section 2(69) of CGST Act, 2017 and to insert an Explanation under the same to provide for definitions of the terms ‘Local Fund’ and ‘Municipal Fund’ used in the said clause.            

    4. Amendment in provisions pertaining to Input Services Distributor (ISD) mechanism under CGST Act, 2017 and CGST Rules, 2017

    • Toamend Section 2(61) and Section 20(1) of the CGST Act, 2017 to explicitly include inter-state RCM transactions under the ISD mechanism by including reference to supplies subject to tax under section 5(3) and 5(4) of IGST Act, 2017 in the said provisions.
    • Consequentially, to amend section 20(2) of CGST Act, 2017 and rule 39(1A) of the CGST Rules, 2017.
    • These, amendments in CGST Act, 2017 are to be made effective from 01.04.2025.

    5.         Provision for grant of Temporary Identification Number by Tax Officers to persons, not liable to be registered otherwise

    • To insert new rule 16A in CGST Rules, 2017 to provide for a separate provision for generation of temporary identification number for persons, who are not liable to be registered under CGST Act, 2017 but are required to make any payment as per rule 87(4) of CGST Rules, 2017.
    • To amend Rule 87 (4) of CGST Rules, 2017 incorporating a reference to the new Rule and consequential modification of FORM GST REG-12.

    6.Amendment in the field ‘category of registered person’ for taxpayers who opted for composition levy through FORM CMP-02

    • Toamend sub-rule (1) of rule 19 of CGST Rules, 2017 to include reference to FORM GST CMP-02 in the said rule toallow thetaxpayers to modify their “category of registered person” in Table 5 of FORM GST CMP-02throughFORM GST REG-14.

     

    1. Amendment in CGST Act, 2017 and CGST Rules, 2017 in respect of functionality of Invoice Management System (IMS)
    • The GST Council recommended inter-alia-
    1. To amend section 38 of CGST Act, 2017 and rule 60 of CGST Rules, 2017 to provide a legal framework in respect of generation of FORM GSTR-2B based on the action taken by the taxpayers on the Invoice Management System (IMS).
    2. To amend section 34(2) of CGST Act, 2017, to specifically provide for requirement of reversal of input tax credit as is attributable to a credit note, by the recipient, to enable the reduction of output tax liability of the supplier.
    3. To insert a new rule 67B in CGST Rules, 2017, to prescribe the manner in which the output tax liability of the supplier shall be adjusted against the credit note issued by him.
    4. To amend section 39 (1) of CGST Act, 2017 and rule 61 of CGST Rules, 2017 to provide that FORM GSTR-3B of a tax period shall be allowed to be filed only after FORM GSTR-2B of the said tax period is made available on the portal.

    E. OTHER MEASURES:

    • The GST Council approved the recommendation of the committee of officers suggesting measures for the various issues raised by the States in respect of issues pertaining to IGST settlement and asked the committee to conclude the desired changes by March, 2025.
    • The GST Council took note of the procedural rules proposed for the internal functioning of the GSTAT, which would be notified after examination by the Law Committee. This would help in operationalization of the GSTAT.
    • The Council also decided to extend the time frame for the Group of Ministers on the restructuring of the GST Compensation till 30th June, 2025.
    • On the request of State of Andhra Pradesh the Council recommended that a Group of Ministers be constituted to examine the legal and structural issues, and recommend a uniform policy on imposition of levy in case of a natural disaster/calamity in the State.

    The issue of whether charges collected by municipalities for granting FSI including additional FSI, chargeable to GST on reverse charge basis was brought up in the Council. The matter was deferred for further examination on the behest of the Central Government on the ground that this amount relates to Municipalities or local authority.

    Note: The recommendations of the GST Council have been presented in this release containing major item of decisions in simple language for information of the stakeholders. The same would be given effect through the relevant circulars/ notifications/ law amendments which alone shall have the force of law.

    ****

    NB/KMN

    (Release ID: 2086873) Visitor Counter : 267

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav Inaugurates Advanced Facility for Pashmina Certification and Next Generation DNA Sequencing Facility at Wildlife Institute of India, Dehradun

    Source: Government of India (2)

    Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav Inaugurates Advanced Facility for Pashmina Certification and Next Generation DNA Sequencing Facility at Wildlife Institute of India, Dehradun

    New Wildlife Research Facility a ‘Game-Changer’ for Biodiversity Conservation, says Union Minister Shri Bhupender Yadav

    Posted On: 21 DEC 2024 7:09PM by PIB Delhi

    Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav, today inaugurated the Advanced Facility for Pashmina Certification and Next Generation DNA Sequencing Facility at the Wildlife Institute of India (WII), Dehradun, in the presence of Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh. These new facilities are built on the foundation laid last year, when the Minister inaugurated the Pashmina Certification Centre (PCC) and issued its first unique ID barcode and certificate.

    Next Generation Sequencing Facility (NGS):

    Next-Generation Sequencing (NGS) is a revolutionary technology that enables the rapid and high-throughput decoding of entire genomes, analyzing millions of DNA sequences simultaneously. This allows researchers to gain deeper insights into genetic diversity, evolutionary relationships, and population health. In wildlife conservation, NGS plays a pivotal role in identifying population genetic health with respect to genetic diversity, information on genetic barriers and their effect on populations, unique adaptations and species with unique evolutionary histories, understanding disease outbreaks, detecting illegal wildlife trade, and studying the effects of climate change on biodiversity. This cutting-edge NGS facility positions the Wildlife Institute of India as a leading centre for molecular and genetic research in wildlife conservation, enabling advanced studies in areas such as biodiversity genomics, population genetics, and disease surveillance.

    Speaking on the occasion, Union Minister Shri Bhupender Yadav said, “This facility is a game-changer for wildlife research in India. It empowers scientists with the latest tools to decode the genetic mysteries of our biodiversity and create science-based solutions to protect it. India, as a megadiverse country, needs such advanced capabilities to ensure the survival of our precious wildlife for generations to come.”

    A Self-Sustaining Model

    The PCC represents a unique, self-sustaining initiative within a government organization, generating revenue while creating employment opportunities for budding professionals under the PPP model.

    Shri Bhupender Yadav lauded the Wildlife Institute of India and the EPCH for their collaborative efforts in establishing this world-class facility. He reiterated the government’s commitment to preserving India’s rich cultural heritage while promoting sustainable development and biodiversity conservation.

    Advanced Facility for Pashmina Certification

    In the year since its establishment, the PCC has certified over 15,000 shawls, ensuring their authenticity and the absence of mixing of other fibers, thus enabling seamless trade of genuine Pashmina products in both national and international markets. The upgraded Advanced Facility for Pashmina Certification now includes a dedicated Scanning Electron Microscope (SEM) with Energy Dispersive Spectroscopy (EDS), which enhances the precision and reliability of wool testing and certification.

    A Milestone in Atmanirbhar Bharat

    The PCC, established under a Public-Private Partnership (PPP) model through a Memorandum of Understanding (MoU) between WII and the Export Promotion Council for Handicrafts (EPCH), exemplifies the government’s commitment to supporting artisans, weavers, and traders while fostering self-reliance in traditional handicrafts.

    The upgraded facility offers:

    • Advanced Fiber Analysis: SEM-EDS technology to accurately identify and authenticate Pashmina fibers.
    • Streamlined Certification: Unique ID tagging and e-certificates for traceability and quality assurance.
    • Global Trade Facilitation: Hassle-free movement of certified products, eliminating delays and financial losses due to fibre scrutiny at exit points.

    Supporting Artisans and Conservation Efforts

    Pashmina is a cornerstone of livelihood for the artisan and weaver communities of Jammu & Kashmir. The PCC plays a vital role in promoting their industry by certifying genuine products, enhancing their credibility in global markets, and ensuring fair trade practices. Additionally, the facility discourages the use of prohibited fibers, indirectly contributing to the conservation of the Tibetan antelope (Chiru), whose habitat was previously threatened by illegal trade in Shahtoosh wool.

    Minister of State for Environment, Forests, and Climate Change, Shri Kirti Vardhan Singh highlighted the facility’s potential, stating:
    “With the Next-Generation Sequencing facility, we are equipping ourselves to address modern conservation challenges with precision and innovation. Developing indigenous capacity to handle such modern technologies, and to build capacity in advancements is critical to take our country forward. “

    The NGS facility is expected to bolster ongoing projects and enable new research avenues, including the study of genetic adaptation to climate change, pathogen-host interactions, and the development of conservation strategies for endangered species such as tigers, elephants, riverine dolphins, and other endangered species.

    *****

    VM/GS

    (Release ID: 2086834) Visitor Counter : 70

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Scaling New Heights

    Source: Government of India (2)

    Scaling New Heights

    How the PLI Scheme is Reshaping Industries

    Posted On: 21 DEC 2024 6:20PM by PIB Delhi

    India’s manufacturing sector is embarking on a transformative journey, driven by forward-thinking policies aimed at reshaping its global presence. Central to this evolution is the Production Linked Incentive (PLI) Scheme, a cornerstone of the government’s bold vision to establish the nation as a leading global manufacturing hub while promoting innovation, enhancing efficiency, and boosting competitiveness across critical industries.

    The PLI scheme has achieved remarkable milestones in terms of investment, production, and job creation.As on August 2024, across 14 sectors, investment of Rs. 1.46 lakh crore have been realized which has resulted in incremental production/sales of over Rs. 12.50 lakh crore, employment generation of over 9.5 lakhs, and exports surpassing Rs. 4 lakh Crore with significant contributions from sectors such as electronics, pharmaceuticals, and food processing. Incentive of Rs 2,968 Crorein 8 sectors and Rs. 6,753 Crore in 9 sectors during FY 2022-23 and FY 23-24 respectively.

    Launched in 2020, the PLI Scheme is more than just a policy; it is a strategic leap toward self-reliance. Aligned with the vision of Atmanirbhar Bharat and the larger Make in India initiative, the PLI Scheme seeks to strengthen the manufacturing backbone, reduce reliance on imports, and balance growth with sustainability. It underscores the nation’s resolve to lead in production excellence, foster innovation, and create a thriving industrial ecosystem that powers both local progress and global competitiveness.Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of Rs. 1.97 lakh crore to enhance India’s Manufacturing capabilities and Exports. The 14 sectors are:

    1. Mobile Manufacturing and Specified Electronic Components,
    2. Critical Key Starting Materials/Drug Intermediaries & Active Pharmaceutical Ingredients,
    3. Manufacturing of Medical Devices
    4. Automobiles and Auto Components
    5. Pharmaceuticals Drugs
    6. Specialty Steel
    7.  Telecom & Networking Products
    8. Electronic/ Technology Products
    9. White Goods (ACs and LEDs)
    10. Food Products
    11. Textile Products: MMF segment and technical textiles
    12. High efficiency solar PV modules
    13. Advanced Chemistry Cell (ACC) Battery
    14. Drones and Drone Components.

    PLI schemes have the potential of significantly boosting production, increase manufacturing activities and contribute to economic growth over the next five years or so. As on date, 764 applications have been approved under PLI Schemes across 14 sectors. Out of these 764, the Food Products sector stands out with the highest share of 182 approvals, followed by Automobiles & Auto Components sector follows with 95 approvals. Textile Products: MMF Segment and Technical Textiles received 74 applications approved, Specialty Steel secured 67 approvals, while White Goods (ACs and LEDs) received 66.Additionally, sectors such as Critical Key Starting Materials/ Drug Intermediaries & Active Pharmaceutical Ingredients received 51 approvals, Pharmaceuticals Drugs  received 55approvals, Telecom & Networking Products got 42 approvals and Electronic/ Technology Products received 27 approvals. Manufacturing of Medical devices and Mobile Manufacturing & Specified Electronic Components bothreceived 32 approvalseach. Emerging areas like Drones and Drone Components got 23approvals, High-Efficiency Solar PV Modules received 14 and Advanced Chemistry Cell (ACC) Battery received 4approvals. The diversity in approvals highlight the scheme’s focus on future-ready industries, underscoring its comprehensive approach to strengthening India’s position as a global manufacturing hub.

    In conclusion, the PLI scheme is poised to create a cascading impact on India’s MSME ecosystem by fostering the development of ancillary units across value chains, predominantly within the MSME sector.By aligning with the vision of Atmanirbhar Bharat, the PLI scheme is not only driving industrial growth but also paving the way for India’s self-reliance and global leadership in manufacturing.

    References

    LOK SABHA UNSTARRED QUESTION NO. 3656: https://sansad.in/ls/questions/questions-and-answers

    https://pib.gov.in/PressNoteDetails.aspx?NoteId=153454&ModuleId=3&reg=3&lang=1

    https://pib.gov.in/PressReleasePage.aspx?PRID=2086347

    Click here to see in PDF:

    Santosh Kumar/Sarla Meena/ Madiha Iqbal

    (Release ID: 2086811) Visitor Counter : 10

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Africa Investment Forum 2024 Market Days highlights Japan’s Role in Africa’s agricultural and energy revolution

    Source: African Development Bank Group

    African Development Bank President Dr. Akinwumi Adesina painted a compelling picture of the potential of Africa’s agricultural and energy transition during a plenary session at the Africa Investment Forum 2024 Market Days, highlighting the deepening Japan-Africa partnership, emphasizing how Japanese technology and innovation could help unlock them.

    He spoke on 9 December as part of two panel discussions on Africa’s agriculture and energy transition, that brought together 100 Japanese investors, showcased how digital solutions , innovative technologies and business models are transforming Africa’s business  landscape.

    “Agriculture is the place to be,” declared Dr. Adesina, highlighting Africa’s possession of 65% of the world’s remaining arable land. “You may like oil and gas, that’s fine. But nobody drinks oil, and nobody smokes gas. But everybody eats food three times a day.” With the global food and agricultural market in Africa projected to reach $1 trillion by 2030, the continent presents unprecedented opportunities for investment and innovation.

    Digital Revolution in Agriculture

    Space Shift Inc. demonstrated their groundbreaking use of satellite technology for crop monitoring in Nigeria. Chief Business Officer Tamao Tada presented how their AI-powered system combines optical and radar satellite data to provide continuous monitoring of crop growth, harvest timing predictions, and historical farming activity records – even through cloud cover. This technology is enhancing credit scoring for farmers and improving agricultural decision-making.

    AAIC Partners Africa Limited, through Director Hiroki Ishida, shared their success story in Rwanda and Tanzania, where they’ve implemented smart agriculture projects covering 1,700 hectares. Their work demonstrates how Japanese technology can transform large-scale agricultural operations in Africa through IoT solutions and satellite technology optimization.

    VunaPay’s COO, Koya Matsuno, addressed one of agriculture’s most pressing challenges through their digital platform that enables instant payments to farmers upon produce delivery. “Imagine working hard for a month and your boss tells you that you’re not going to get paid for another six months,” Matsuno illustrated, highlighting how their solution is transforming agricultural finance.

    Green Carbon Inc.’s Manager, Ryo Harada, introduced innovative approaches to generating carbon credits in agriculture. Their projects, including biochar and alternate wetting and drying (AWD) in rice fields, can reduce methane emissions by 30-50% while generating valuable carbon credits for farmers.

    Strategic Partnership Framework

    The Japan International Cooperation Agency (JICA), represented by Jin Wakabayashi, Deputy Director General for Private Sector Investment Finance, outlined their comprehensive support for agricultural development, emphasizing three key pillars for private finance window: Climate-resilient agriculture; Food security enhancement and financial inclusion facilitation.

    The African Development Bank’s Director of Private Sector Operations, Richard Ofori-Mante, highlighted successful collaborations with Japanese institutions, including a $600 million of the Enhanced Private Sector Assistance for Africa (EPSA) facility with JICA and ongoing partnerships with major Japanese corporations like Mitsubishi.

    “What I see here is what Executive Director Nomoto and I envisioned,” reflected Dr. Adesina, describing the creation of a comprehensive ecosystem supporting Japanese investment in African agriculture. This ecosystem spans agricultural technology and innovation; infrastructure development; financial services; private equity and venture capital and government support mechanisms.

    The Bank’s collaboration with MasterCard on the Community Pass program, aiming to provide 100 million African farmers with digital access to financial services and agricultural information, exemplifies this ecosystem approach.

    Green Transition and Digital Solutions

    Uncovered Fund specializes in supporting start-ups in Africa, including climate technology company and electric vehicle (EV) battery service provider, through their funds to support net zero in the continent. “Not just financing, the Uncovered Fund also provides Japanese technology to the start-ups”, explained Mr. Takuma Terakubo, CEO & General Partner.

    Hitachi Energy is also working towards clean energy transition and carbon neutral. Through its technologies and partnerships, Hitachi is implementing infrastructure projects which deliver reliable renewable energy to cities and rural areas, contributing to electrification of Africa. Mr. Bekim Tahiri, Executive & Global Sales Manager, emphasizes the importance of digitalization to make all the information visible to identify any issues to maintain their power supply and critically of investing into the Electrical Grid to successfully integrate clean energy whilst supporting access to power for the African continent.

    Mizuho, one of the global systemically important banks, has been a bridge between Africa and Asia through strong partnerships with African financial institutions. In his presentation, Mr. Junaid Belo-Osagie, Executive Director, focused on two sectors: hydrogen and clean cooking. “In terms of clean cooking, four in five Africans are exposed to harmful gases, and only 4 billion USD are required to move towards clean cooking scenario”, he added.

    The mission of the Japan Organization for Metals and Energy Security (JOGMEC) is to ensure a stable and affordable supply of energy and mineral resources. Ms. Yuri Uchida, Deputy General Manager of JOGMEC, underscored that in terms of hydrogen and ammonia sector, JOGMEC has a support system that focuses on the price gap, where they try to promote low-carbon hydrogen society.

    Nippon Export and Investment Insurance’s (NEXI) business in Africa has been growing in the past 20 years at an annual growth rate of 18%. Mr. Yuichiro Akita, General Manager, illustrated several cases including two wind power projects in Egypt and one solar power project in Kenya, where they underwrote insurances to facilitate green energy transition. “We have projects pipeline worth 5 billion USD in the coming years”, Mr. Akita emphasized.

    Catalyzing Action

    Ken Shibusawa, Vice-chairperson of Africa Project Team, Keizai Doyukai (Japan Association of Corporate Executives), brought urgency to the discussions. Moderator of the second session, he challenged his Japanese peers to move from interest to action, emphasizing that beyond the commonly discussed “cost of inaction” in sustainability, there was another critical cost: Japan’s missed opportunities in Africa. “In Japan, we have the technology, we have the people, we have the money, but what we lack is the Action,” Shibusawa noted, urging Japanese businesses to realize the cost they’re paying for future generations by not acting in Africa.

    Japan’s Long-term Commitment to Africa

    In closing remarks, Deputy Vice Minister of Finance of Japan, Daiho Fujii, underscored Japan’s long-standing commitment to African development, dating back to the country’s first participation in the African Development Fund in 1973. He highlighted Japan’s pioneering role in private sector mobilization, notably through the establishment of the EPSA at the Bank in 2006, which has provided around $9 billion to date.

    “Africa undoubtedly has huge potential to attain high growth, create jobs and build a solid economic structure for future generations,” Fujii emphasized. He particularly noted how the day’s focus on agricultural innovation and green growth addresses critical development challenges while respecting African ownership of its development path.

    The Deputy Vice Minister stressed that “it is time for us to co-create innovative solutions together with Africa,” highlighting how Japanese solutions and innovative business models presented during the session could be “real game-changers” in addressing the continent’s challenges and unleashing its potential.

    Looking ahead to TICAD 9

    With Japan’s upcoming Tokyo International Conference on African Development (TICAD 9), set to take place in Yokohama in August 2025, and the African Development Fund’s 17th replenishment negotiations on the horizon, the partnership between Japan and Africa in agricultural innovation and green growth is poised for further expansion. This momentum is evidenced by Executive Director Takaaki Nomoto’s successful mobilization of 100 Japanese participants for the Forum, up from 80 investors last year.

    Looking toward TICAD 9, Deputy Vice Minister Fujii reaffirmed Japan’s commitment: “Japan respects African ownership and will continue to encourage sustainable development driven by Africa… I believe if we work together, we can see an Africa where all people enjoy healthy and productive lives.”

    The convergence of Japanese technology, investment, and Africa’s agricultural and energy transition potentials is creating unprecedented opportunities for sustainable development and food and energy security, marking a new chapter in Japan-Africa relations.

    MIL OSI Economics –

  • MIL-OSI Australia: Protect your consumer rights during post-Christmas sales

    Source: Government of Victoria 2

    It’s a great time of the year for a post-Christmas shopping bargain, but Victorian shoppers are being reminded of their consumer rights if they end up with a faulty product. 

    Consumer Affairs Victoria Director Nicole Rich said a great post-Christmas deal should save shoppers money, not their rights. 

    More than 6,600 people contacted Consumer Affairs Victoria in 2023–24 with refund and return questions or problems – the top shopping rights issue reported. 

    We remind consumers they may be entitled to a refund, repair or replacement under law if there is a problem with an item, whether it was bought on sale or received as a present. 

    Keeping receipts for products you buy as well as gift receipts for presents you receive can make it easier to claim your rights where something goes wrong. 

    Traders can face penalties if they misrepresent consumer rights, such as those around refunds.

    Shoppers, however, do not have the automatic right to return a product if they simply change their mind, order the wrong product, or find a better product elsewhere. 

    Consumers jumping online to beat the Boxing Day crowds are entitled to the same rights as someone shopping in store. But these same rights do not apply to purchases from private sellers, such as individuals selling pre-loved goods on eBay, Gumtree or Facebook Marketplace.

    Gift cards are an increasingly popular gift that come with specific rights. Consumers have a minimum of three years to use a gift card and it must clearly show the expiry date. If a gift card has an earlier expiry date at the time of purchase, consumers are still entitled to the mandatory three-year period. 

    Traders are also encouraged to understand their rights and obligations when dealing with customer returns. Consumer Affairs Victoria provides a range of business resources to support traders.

    Penalties for breaching the Australian Consumer Law are serious, with maximum penalties ranging from $2.5 million for a person to $50 million for businesses.

    “Christmas is a time for cheer and celebration, and we want all Victorians to have a stress-free festive season,” said Ms Rich. 

    “Consumers should know their rights and feel empowered to speak up if they think these rights have been compromised.”

    “Traders who aren’t sure of their obligations can access our business resources to help them set up good policies and practices and avoid any issues or disputes after the busy festive trading season.”

    For more information, go to Products and services.

    MIL OSI News –

  • MIL-OSI New Zealand: Submissions open for the International Treaty Examination of the US Tuna Treaty Amendments to Annex II of the Treaty on Fisheries between the Governments of certain Pacific Island States and the Government of the United States of America

    Source: New Zealand ParliamentThe Foreign Affairs, Defence and Trade Committee is calling for public submissions on the International Treaty Examination of the US Tuna Treaty Amendments to Annex II of the Treaty on Fisheries between the Governments of certain Pacific Island States and the Government of the United States of America.
    MIL OSI

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Submissions open for the International treaty examination of the Agreement Under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction

    Source: New Zealand ParliamentThe Foreign Affairs, Defence and Trade Committee is calling for public submissions on the International treaty examination of the Agreement Under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction.
    MIL OSI

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: President Lai attends 2024 Presidential Hackathon awards ceremony

    Source: Republic of China Taiwan

    President Lai attends 2024 Presidential Hackathon awards ceremony
    2024-12-22

    On the afternoon of December 22, President Lai Ching-te attended the 2024 Presidential Hackathon awards ceremony. In remarks, President Lai praised the winning teams for proposing innovative solutions in the areas of health promotion and digital and net-zero development. The president also stated that in these challenging and rapidly changing times, the Presidential Hackathon exemplifies collaboration between the government and civil society, breaking through conceptual limitations to implement government innovations that respond to people’s needs and resolve various social problems. If we all work together, he said, the nation can look forward to a better, more advanced, and more prosperous future.
    Upon arrival, President Lai first took in presentations by outstanding domestic and international hackathon teams on their proposals, and then delivered remarks.
    A translation of President Lai’s remarks follows:
    With the support of former President Tsai Ing-wen, the Presidential Hackathon was officially launched in 2018 during my tenure as premier. I am delighted to see that it has become a thriving platform for cross-sector collaboration between the government and civil society. Now in its seventh year, the hackathon has since its inception selected a total of 35 domestic and 12 international outstanding teams. Their achievements are truly remarkable, and I want to thank everyone for their efforts.
    This year, the theme of the domestic track is “Aging Together in Good Health.” With Taiwan becoming a “super-aged society” and our National Health Insurance reaching its 30th anniversary next year, we hope that your collective wisdom will help us jointly achieve the vision of Healthy Taiwan.
    Let me congratulate the five outstanding teams in the domestic track. The first team is Drone for Life. Their aim is to use drones to set up a transportation network that covers remote areas to promote an equitable distribution of medical resources, which is extremely important for rural healthcare. The second team is Quiet Tracker. They want to improve noise management processes and create a noise suitability indicator map database for Taiwan, taking domestic quality of life to the next level. The third team is Greens Plus. Their goal is to develop an AI-enabled agricultural identification platform to alleviate water shortage concerns and improve the quantity and quality of agricultural products for farmers, treating every drop of water as a precious resource.
    The fourth team is CONNECT 10. Their proposal will enhance care services in remote areas to improve the quality of life for recipients, and I am confident that this will make the government’s Long-term Care 3.0 Plan more complete. And the fifth team is Tranquil Aging Master. They want to use a communication platform centered on the elderly to connect care teams, seniors, and their families to create a new model of holistic health care. If this proposal can be implemented, human dignity will be given greater importance, which is good for everyone.
    The theme of this year’s international track is Digital and Green: Next-Generation Public Infrastructure. By integrating digital technology with net-zero, sustainable solutions, we want to promote the digital and net-zero twin transformation, lay a more sustainable foundation for Taiwan’s future generations, and achieve the goal of a smarter, more sustainable new Taiwan.
    I was pleased to see that this year’s international track received a record-breaking 77 team proposals. Here, I would like to congratulate the two winning international outstanding teams. The first team is GreenhopeBCTW. With members from the United States and Taiwan, the group hopes to use personal carbon wallets to turn environmental actions into assets and encourage more people to cut emissions. The second team is MooApps, whose three members are all from Indonesia. They have proposed an innovative digital monitoring system to help livestock farmers improve animal health and reduce herd mortality rates. I am confident that having a constant understanding of physical health conditions – not just for animals but for people as well – can be a powerful aid to individual health.
    Once again, I would like to thank all the outstanding teams for their hard work in proposing innovative solutions in the areas of health promotion and digital and net-zero development. In these challenging and rapidly changing times, the Presidential Hackathon exemplifies collaboration between the government and civil society, breaking through conceptual limitations to implement government innovations that respond to people’s needs and resolve various social problems.
    In closing, congratulations once more to all the outstanding teams. In your contributions, I can see the limitless potential for Taiwan. If we all work together, our nation can look forward to a better, more advanced, and more prosperous future.
    President Lai then presented trophies and certificates to the winning teams in both the domestic and international tracks.
    Also in attendance at the event were American Institute in Taiwan Taipei Office Director Raymond Greene and Indonesian Economic and Trade Office to Taipei Representative Arif Sulistiyo.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: SUM – a platform for dialogue: the first Congress of the Student Council was held at the university

    Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    From December 16 to 18, the 1st Congress of the Council of Student Universities and Scientific Organizations under the Ministry of Science and Higher Education of the Russian Federation was held within the walls of the State University of Management, where our university acted as the operator.

    The congress was held to build effective activities of the new Council. More than 100 representatives of universities from all over the country gathered to jointly develop an action plan for the next year.

    On the first day of the congress, the participants were greeted by the Deputy Head of the Ministry of Education and Science of the Russian Federation Olga Petrova and the Vice-Rector of the State University of Management Pavel Pavlovsky.

    As part of the project, activists and leaders of Russia developed a roadmap for the Council, exchanged experiences, improved their skills, listened to lectures and attended master classes.

    The participants were able to listen to a lecture on legislation in the field of youth policy and student self-government, discuss the possibilities of cooperation between the Council and the All-Russian public-state movement of children and youth “Movement of the First”, meet with a representative of the Administration of the President of the Russian Federation and the Presidium of the Council of Vice-Rectors for Youth Policy and Educational Activities under the Ministry of Education and Science of Russia at the site of the National Center “Russia” and discuss the possibilities of joint work.

    On the final day of the congress, the election of the Council’s leadership took place and a meeting was held with the leadership of the Ministry of Science and Higher Education of the Russian Federation and honorary guests.

    It should be noted that the Student Council is an advisory and consultative body that takes into account the opinions of representatives of universities and scientific organizations from all over the country. The Council was selected from September 20 to November 1 by representatives of the Ministry of Education and Science of Russia, the Russian Union of Youth, and the Student Coordination Council of the All-Russian Trade Union of Education from more than 700 competitive applications.

    Subscribe to the TG channel “Our GUU” Date of publication: 23.12.2024

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Female director of chain education centre convicted of engaging in wrongly accepting payment

    Source: Hong Kong Government special administrative region

    Female director of chain education centre convicted of engaging in wrongly accepting payment
    Female director of chain education centre convicted of engaging in wrongly accepting payment
    ******************************************************************************************

         A female director of a chain education centre was sentenced to 240 hours of community service order today (December 23) at the Eastern Magistrates’ Courts for engaging in wrongly accepting payment when selling tutorial programmes, in contravention of the Trade Descriptions Ordinance (TDO). The female director was also ordered by the court to make a compensation of about $70,000 to the victims of the case.     Hong Kong Customs in July 2023 received numerous complaints alleging that a chain education centre suddenly announced business closures of five branches, failing to provide prepaid tutorial programmes purchased by and arrange refunds to customers.     After an investigation, Customs found that the some branches of the education centre were in arrears with rent and salaries. However, they still accepted payments for prepaid programmes even anticipating that they would be unable to continue operating.     Customs reminds traders to comply with the requirements of the TDO. Traders should not accept advance payments from consumers if they are uncertain whether the pertinent services can be delivered to consumers within a specific or reasonable time. Consumers are also reminded to procure services at reputable shops and think prudently before making decisions regarding consumption by prepayment. After purchasing services, consumers should keep the transaction receipts and related records, which can become basic information in case a complaint is lodged in the future.           Under the TDO, any trader commits an offence if at the time of acceptance of payment, the trader intends not to supply the product or there are no reasonable grounds for believing that the trader will be able to supply the product within a specified or reasonable period. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.     Members of the public may report any suspected violations of the TDO to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

     
    Ends/Monday, December 23, 2024Issued at HKT 15:27

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: BLOG: How we’re tackling rogue landlords

    Source: City of Liverpool

    One year ago, Liverpool City Council launched a Private Sector Housing Intelligence and Enforcement Task Force, and the results have made a real difference in our city. Tom Mullan from the team reflects on the last year...

    This anniversary gives us a chance to celebrate the team’s achievements in disrupting rogue landlords, improving housing conditions and creating safer communities. Through multi-agency collaboration, intelligence sharing and enforcement, the Task Force has delivered significant outcomes that benefit our city and its residents.

    The Task Force, established with funding from the Ministry of Housing, Communities and Local Government’s (MHCLG) Pathfinders Programme, was tasked with establishing new and innovative ways to combat landlords who:

    • Ignore their legal obligation to license properties
    • Fail to meet safety standards for tenants
    • Use properties for illegal activities, like drug-related crime or human trafficking

    Cllr Sam East, Cabinet Member for Housing, emphasised the importance of the initiative: “This Task Force was established to proactively target and disrupt rogue and criminal landlords and managing agents operating in the private sector in Liverpool and the threats they pose to our city’s vulnerable residents, safe neighbourhoods and community cohesion. The team’s collaborative, intelligence-led, multi-agency approach is a real success.”

    Some of our achievements so far…

    Improved housing safety
    Over 129 serious hazards were identified in private rental properties, with 139 enforcement notices issued, including 21 Housing Act Improvement Notices and a further 8 Emergency Prohibition Orders.

    Disrupting criminal activity
    Joint operations with Merseyside Police and the Home Office resulting in the seizure of £13 million (street value) of cannabis and the emergency closure of eight properties.

    Creating trusting relationships
    Established service level data sharing agreements with the other local authorities in the Liverpool City Region and our external partners to foster joint working in tackling rogue and criminal landlords.

    Safeguarding vulnerable residents
    Investigated over 20 properties linked to human trafficking and sexual exploitation, working with our third sector partner, Changing Lives, to provide support for victims.

    Investigating Trading Standards
    Proactively investigated and enforced trading standards compliance on over 40 managing and letting agents operating in Liverpool.

    Making an impact across the country
    Submitted 586 intelligence reports to a national database, helping disrupt criminal operations locally and nationwide, and partnered with Shelter to develop e-learning modules for agents on tenant rights, deposit security and consumer protections.

    Cllr Laura Robertson-Collins, Cabinet Member for Neighbourhoods, Communities & Streetscene, said: “The targeted work across the city has had a real impact, improving housing conditions and creating safer neighbourhoods for our residents. Their proactive partnership working with Merseyside Police, housing providers and local voluntary organisations is helping to restore pride in our communities and make a real difference in people’s lives.”

    Making a difference in our communities

    Beyond the numbers, the Task Force’s work is creating safer, more stable communities:

    In Norris Green, operations reduced drug-related crime and anti-social behaviour by targeting rogue landlords and unsafe properties.

    Cllr Kevin Pilnick reflects on the work in his ward: “The team’s targeted operations in the Norris Green area have made a real difference.  Their work with the Council’s community co-ordinators and neighbourhood managers, alongside other stakeholder agencies, is helping to reduce anti-social behaviour and drug-related crime.”

    Working together to make an impact

    This progress is the result of teamwork across the council and partnerships with external agencies. Here’s what some of our partners had to say:

    Sarah Clarke, from Changing Lives, said: “The collaborative working that we undertake with the Task Force in Liverpool provides us with critical opportunities to offer safeguarding to victims of adult sexual exploitation and human trafficking who face significant harm from organised crime groups.  We cannot safeguard in silo and the joint working has evidenced this.”

    Peter Yoh, Head of Liverpool City Region Housing at Riverside: “The partnership working and intelligence sharing is proving vital to the success in making a real difference to customers of the private rented sector living within our communities.  Our collaborative approach with the Council’s Task Force is resulting in enforcement action being taken against irresponsible landlords, which is stabilising communities and sustaining tenancies.”

    Merseyside Police said: “Merseyside Police works in close partnership with the Task Force and other partner agencies from the voluntary and community sector, establishing a multi-agency approach to engaging the local community and gathering intelligence for detecting and disrupting sexual exploitation and supporting victims.”

    Looking Ahead

    With three months left in its current phase, the Task Force is already embedding its strategies into Liverpool City Council’s long-term private sector housing operations. The aim is to make our proactive, intelligence-led approach a standard for how we handle housing enforcement.

    If you have any concerns about rogue and criminal landlords, please contact privatesectorhousing.intel@liverpool.gov.uk or use our freephone number 0800 707 6245.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council staff seize fake goods from St Johns

    Source: City of Liverpool

    High-end clothing deals have turned out to be too good to be true at St John’s Precinct, as bags of counterfeit products are seized by Liverpool City Council. 

    The Council’s Trading Standards team, working in partnership with Merseyside Police, has removed hundreds of fake goods after receiving a report from a member of the public.  

    An inspection of five stores in St Johns resulted in 280 counterfeit items of clothing being seized, including fake versions of White Fox, Prada and Diesel. Although the items were being sold at bargain prices, the haul would be worth approximately £25,000 if they were real. 

    In a previous operation earlier this year, the team seized over 1,500 fake products, believed to be worth roughly £15,000 in total. Items included a haul of fake Apple, Samsung and Sony items, which could have posed a serious safety risk to potential buyers. 

    As well as counterfeit goods, the Council has recently cracked down on the selling of illegal vapes. Since January 2024, over 18,000 vapes have been seized, estimated to be worth around £220,000. The vapes were found to have exceeded the legal limit of nicotine and could be harmful to people using them. 

    To help remove any health and safety risk to the public, all reported counterfeit or illegal goods are investigated and seized. Where possible, any branding will be taken off the items before they are recycled or donated. In cases where items are unsafe, they will be destroyed.

    Cllr Laura Robertson-Collins, Liverpool City Council’s Cabinet Member for Communities, Neighbourhoods and Streetscene said: “Everyone loves a good bargain, especially in the lead up to Christmas, but we want everyone to be vigilant about counterfeit goods. 

    “Thanks to keen-eyed shoppers, we were alerted to a number of shops selling fake items to the public. Our Trading Standards team, along with Merseyside Police, acted quickly to inspect these items and take them off the shelves for good. 

    “While they might look like the real thing, counterfeit clothing is usually made from poor quality materials and may be easily flammable or otherwise unsafe. It might seem like a good deal now, but it could cost you dearly in the long run.” 

    Anyone concerned about fake goods can report them on the Council website or by calling Crimestoppers on 0800 555 111.  

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Import of poultry meat and products from areas in US and UK suspended

    Source: Hong Kong Government special administrative region

    Import of poultry meat and products from areas in US and UK suspended
    Import of poultry meat and products from areas in US and UK suspended
    *********************************************************************

         The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (December 23) that in view of notifications from the World Organisation for Animal Health (WOAH) about outbreaks of highly pathogenic H5N1 avian influenza in areas in the United States (US) and the United Kingdom (UK), the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the relevant areas with immediate effect to protect public health in Hong Kong.     The relevant areas are as follows:UK—-Norfolk County(1) King’s Lynn & West Norfolk DistrictUS—-State of California(2) Marin County(3) San Joaquin CountyState of South Dakota(4) Beadle County(5) Charles Mix County(6) Faulk County(7) Hutchinson County(8) McPherson County(9) Moody County(10) Spink CountyState of Iowa(11) Sioux County(12) Palo Alto CountyState of North Dakota(13) Bottineau County(14) McHenry County(15) Ransom CountyState of Tennessee(16) Gibson CountyState of Utah(17) Piute County(18) Sanpete County     A CFS spokesman said that according to the Census and Statistics Department, Hong Kong imported about 63 470 tonnes of chilled and frozen poultry meat, and about 17.2 million poultry eggs from the US, and about 900 tonnes of chilled and frozen poultry meat and about 990 000 poultry eggs from the UK in the first nine months of this year.     “The CFS has contacted the American and British authorities over the issues and will closely monitor information issued by the WOAH and the relevant authorities on the avian influenza outbreaks. Appropriate action will be taken in response to the development of the situation,” the spokesman said.

     
    Ends/Monday, December 23, 2024Issued at HKT 17:47

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Himax to Unveil State-of-the-Art WiseEye Module Solutions at CES 2025 Empowering Seamless AIoT Integration

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, Dec. 23, 2024 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (“Himax” or “Company”) (Nasdaq: HIMX), an industry leader in fabless display driver ICs and other semiconductors, today announced that the Company and its AI ecosystem partners will unveil a suite of innovative, production-ready AIoT applications at CES 2025, powered by Himax’s groundbreaking ultralow power WiseEye Module solutions. These designs will showcase intuitive, user-friendly AI capabilities set to transform multiple industries by improving productivity, scalability, automation, and efficiency, all while delivering better performance and lower power consumption. Himax’s ultralow power WiseEye Module solutions are leading the AIoT revolution with their advanced, efficient, and scalable AI-driven technologies.

    The Himax WiseEye Module seamlessly integrates ultralow power WiseEye AI processors and proprietary always-on CMOS sensors, designed with compact form factors, high integration, and plug-and-play functionality. Characterized by remarkably low power consumption at just single-digit milliwatts, it is ideal for battery-powered endpoint devices that cater to everyday life. The WiseEye Module incorporates versatile AI models from in-house or third-party partners, enabling no-code/low-code AI development for use cases like people counting, gesture recognition, human detection, face recognition, and audio command classification. This simplifies the AI development process, reducing cost and time, allowing AI developers, even those with limited AI expertise, to easily integrate advanced AI features into their systems and applications. Given their versatility, WiseEye Modules are poised to become foundational technology for a wide range of IoT applications.

    At the event, a visionary and innovative lineup of ultralow power WiseEye Module solutions will be on display, showcasing their potential to revolutionize AI-powered applications across industries.

    • WiseEye PalmVein Module: Offers secure, reliable contactless biometric authentication by utilizing unique vein patterns, ensuring robust security and privacy through on-device inferencing
    • AI Baby Cry Detection Module: Accurately detects infant and child crying even in noisy environments, enhancing child safety and enabling timely, automated caregiving
    • Dynamic Gesture Module: Enables intuitive human-machine interaction, supporting a wide range of static and dynamic gestures for seamless control, enhancing accessibility and convenience without the need for traditional input methods
    • Human Sensing Module: Provides precise and energy-efficient human presence detection, creating more responsive and convenient environments in smart homes and offices
    • People Flow Management Solution: Improves space optimization and operational efficiency by analyzing human movement patterns, enabling better resource planning and allocation

    More compelling joint demonstrations with ecosystem partners will also be showcased at the event, including the world-first AI agent SenseCAP Watcher developed with Seeed Studio, mixed reality eye-tracking solutions with Ganzin, and AI-enabled thermal sensing modules in collaboration with leading thermal sensor partners, among others.

    “Our WiseEye™ Modules are designed to drive innovation and enhance lives through advanced, seamless AI integration, all while consuming ultralow power,” said Mark Chen, Vice President of Smart Sensing Business at Himax. “At Himax, we are dedicated to advancing the future of AI vision with innovative, ultralow power, easy-to-adopt AI solutions, enabling seamless integration of advanced vision AI into diverse IoT applications that power the next generation of intelligent, connected devices, enhancing everyday life,” concluded Mark.

    Himax invites all interested parties to stop by our exhibition booth at The Venetian Las Vegas Hotel (3355 Las Vegas Boulevard S, Las Vegas, Nevada, U.S.A.) Venetian Tower Suite 34-208 to experience the Company and partners’ cutting-edge WiseEye Module solutions. To schedule a meeting or booth tour, please contact Himax at: Himax_CES2025@himax.com.tw.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,683 patents granted and 390 patents pending approval worldwide as of September 30, 2024.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

    Company Contacts:

    Eric Li, Chief IR/PR Officer
    Himax Technologies, Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network –

  • MIL-OSI Global: House of the Dragon and families fighting for power – it can happen in business too

    Source: The Conversation – UK – By Bingbing Ge, Lecturer in the Department of Entrepreneurship and Strategy, Lancaster University

    While most agree that HBO’s hit fantasy show House of the Dragon (HotD) might be an interesting dive into the chaos of the Middle Ages, less has been said about its lessons for the contemporary business world.

    Though modern laws make sibling rivalries much more civilised (siblings don’t usually kill each other, nor do they have dragons), there are still many similarities between throne-claiming and today’s family battles over business leadership – especially when multiple siblings are involved.

    As a lecturer in entrepreneurship and strategy, I use the show – a prequel to Game of Thrones that sees siblings fighting to inherit their father’s throne – to illustrate the complications in family business succession.

    When succession of leadership in a business becomes an issue, it is important for the family to be clear about their direction. Important, and often difficult, conversations around which legacy, as well as the methods to achieve it, need to be agreed by all family members.

    The issue of succession is known to contribute to tension in famous family businesses, as seen with the Murdoch family. As one of the most prevalent forms of business worldwide, family businesses could certainly try to avoid conflict – and, in HotD’s case, a kingdom dispute – if successions were handled more carefully.

    In the show, King Viserys I Targaryen, played by Paddy Considine, is not a bad ruler, but when it came to succession planning there was so much more he could have done. By the time he had announced his daughter Rhaenyra (played by Emma D’Arcy) as heir, it was perceived that this decision was taken out of desperation, due to there being no male heir.

    Succession planning.

    Family business leaders typically have a stronger sense of ownership of the firm than non-family employees, which sometimes leads them to keep hold of leadership. While this is human nature, it is important for family business leaders, like kings are to their kingdoms, to remember their responsibility to the businesses’ prosperity and stability and to have a clear Plan B.

    The accession of an heir in a family business often sparks wide discussions, like in the case of Alexandre Arnault of luxury goods conglomerate LVMH. He was recently appointed at just 32 years old as deputy CEO of the group’s wines and spirits business Moët Hennessy. In the case of the heir Rhaenyra in HotD, her half-brother challenged her legitimacy to the throne, with strong support from stakeholders, (that is to say, the lords in the show) who believed that a son would make a more legitimate heir.

    In a family business, successors often need to legitimise their position and get the senior managers (like the lords in HotD), employees, and other stakeholders like customers (the “smallfolk” in the show), to accept the transition.

    While there are different stages of succession, research has shown that it extends far beyond the business arena to affect the lives of family members, with conflict spilling into other areas.

    In a family where everyone gets on, a succession can bind the next generations together – to the point where they might even quit jobs with other companies to carry on the family dream. But HotD portrays a dysfunctional family and intense sibling rivalry, as is also the case in another TV show, Succession.

    In HotD, the king’s first son Aegon (played by Tom Glynn-Carney) was groomed to be fearful and even hateful of his half-sister Rhaenyra and her children. The dysfunctional family life went on to haunt the children when succession discussions arose.

    The Targaryen family in HotD was divided by goals – with Viserys’ and Rheanyra’s side aiming to continue the Targaryen reign, and the king’s second wife Alicent (played by Olivia Cooke) and Aegon’s side trying to maintain primogeniture (where succession goes to the first-born child) and purity in the bloodline. Competing goals are often paradoxical and can be unsettling for stakeholders in family businesses.

    The role of women

    In the show, there are instances where the roles and desires of female characters are marginalised. The role of women in family businesses has also traditionally been overlooked.

    But female family business members are often more important than their titles in the business suggest, where their role in the family in maintaining traditions, values and harmony are sometimes more central.

    HotD demonstrates how the sometimes quieter female voices can influence the succession through the use of a variety of strong female characters. This is a helpful resource to illustrate how females might influence strategic decisions in family businesses.

    Women’s influence in the family and its business can sometimes go unrecognised. This could be particularly tricky in situations where multiple siblings (and even wives) are in competition, like the Majid Al Futtaim (MAF) retail and leisure empire, where ten family members had claims on the estate.

    Sibling rivalries and the challenge of female legitimacy in family business succession take centre-stage in HotD. The complex dynamics between heirs vying for power and the struggles faced by women in leadership roles echo the real-world tensions that often unfold in family-owned businesses.

    Viewers may be immersed in the sweeping political dramas of Westeros, but at the same time the series offers important contemporary lessons in managing family legacies, power struggles and succession planning.

    Bingbing Ge 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. House of the Dragon and families fighting for power – it can happen in business too – https://theconversation.com/house-of-the-dragon-and-families-fighting-for-power-it-can-happen-in-business-too-237377

    MIL OSI – Global Reports –

  • MIL-OSI USA: FACT SHEET: President  Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade Practices in the Semiconductor  Sector

    US Senate News:

    Source: The White House
    A resilient and secure supply of foundational semiconductors is critical to U.S. national and economic security.  These semiconductors are essential to key sectors of the U.S. economy, powering cars, medical devices, critical infrastructure, key aerospace and defense systems, and the goods and services we rely on every day.
    The People’s Republic of China (PRC) routinely engages in non-market policies and practices, as well as industrial targeting, of the semiconductor industry that enables PRC companies to significantly harm competition and create dangerous supply chain dependencies in foundational semiconductors.  
    Today, the Biden-Harris Administration is taking additional action to protect American workers and businesses from the PRC’s unfair trade practices in the semiconductor sector and support a healthy domestic industry for foundational semiconductors. 
    These actions include:
    Launching a Section 301 investigation to examine the PRC’s targeting of foundational semiconductors.
    The Office of the U.S. Trade Representative is launching a Section 301 investigation to examine the PRC’s targeting of foundational semiconductors (also known as legacy or mature node chips) for dominance and the impact on the U.S. economy.
    In addition, the investigation will initially assess the impact of the PRC’s acts, policies, and practices on the production of silicon carbide substrates or other wafers used as inputs into semiconductor fabrication.
    PRC semiconductors often enter the U.S. market as a component of finished goods. This Section 301 investigation will examine a broad range of the PRC’s non-market acts, policies, and practices with respect to the semiconductor sector, including to the extent these semiconductors are incorporated as components into downstream products for critical industries like defense, automotive, medical devices, aerospace, telecommunications, and power generation and the electrical grid. 
    Awarding and catalyzing billions of dollars in semiconductor manufacturing projects across the country.
    The Biden-Harris Administration has championed efforts to ensure more chips are made in America by American workers, in particular through CHIPS and Science Act funding, which allocates at least $2 billion for mature semiconductors.  This was a key part of President Biden’s vision for renewing American economic leadership and a vibrant American industrial base.
    The United States is investing across the semiconductor supply chain—including the upstream materials critical to chip manufacturing such as silicon carbide and wafers.  To date, the Department of Commerce has catalyzed billions of dollars in private sector investments that will serve the American auto and defense industries, including the Texas Instruments projects in Texas and Utah, the GlobalFoundries projects in Vermont and New York, and the Bosch project in California.  Many of these investments also include supply agreements with customers across critical infrastructure industries to maximize the predictability, volume, and quality of domestically manufactured chips needed to power complex technology.  These investments are compounded and sustained by this Administration’s 48D Advanced Manufacturing Investment Credit, which will provide up to a 25% tax incentive for the manufacturing of semiconductors, semiconductor manufacturing equipment, and wafer production.
    Reducing national security risks in federal supply chains.
    Semiconductors are key components of U.S. critical infrastructure that have many military applications. It is vital that federal agencies procure secure and trusted chips. 
    To clean up federal procurement of semiconductors, the Biden-Harris Administration is:
    Implementing a statutory provision in the James M. Inhofe National Defense Authorization Act for FY 2023 that prohibits executive agencies from procuring or obtaining products and services that include chips from certain Chinese fabs and other entities of concern.
    Releasing a Request for Information (RFI) to gauge the best ways for government contractors to scale up their use of domestically manufactured chips, particularly for critical infrastructure.  The RFI intends to solicit commercial ideas from industry that may inform future policymaking in support of the government-wide effort to leverage existing manufacturing capacity.
    Issuing guidance to help the Federal Government – the world’s largest buyer – organize its demand for domestic semiconductors so that agencies can mitigate the risk posed by undue dependence on foreign manufacturing, limited competition, and possible higher manufacturing costs.  This effort includes agencies developing strategies to dual or multiple source semiconductors, increasing transparency for critical infrastructure supply chains, and providing the government’s demand for the products and services that use these chips.
    Prioritizing supply chain resilience and bolstering our toolkit to address non-market policies and practices.
    President Biden made supply chain resilience a Day One priority in his Administration.  The first-ever U.S. Government Quadrennial Supply Chain Review, published on December 19, provides an in-depth assessment of the United States’ critical supply chains, actions taken over the last four years to make each supply chain more resilient, and necessary steps to increase U.S. resilience in the future. 
    The Review includes a comprehensive strategy to respond to non-market policies and practices because they pose a significant challenge in critical industries covered in the supply chain report.  The strategy details the types of comprehensive action necessary to combat non-market policies and practices, including procurement policies. 
    Working with our partners around the world to strengthen cooperation on semiconductor supply chains and address shared concerns about China’s unfair practices.
    Semiconductor supply chains are critical not only to the United States but to all of our allies and partners.  The Biden-Harris Administration has closely consulted with allies and partners on promoting economic resilience and addressing the PRC’s non-market practices in the semiconductor supply chain, including through the following efforts:
    The State Department launched the CHIPS and Science Act’s International Technology Security and Innovation (ITSI) Fund, which has thus far partnered with eight countries – Costa Rica, Panama, Vietnam, Indonesia, India, Kenya, the Philippines, and Mexico – to promote semiconductor supply chain development, security, and diversification.
    The Department of Commerce announced the Indo-Pacific Economic Framework for Prosperity (IPEF) Agreement Relating to Supply Chain Resilience with 13 diverse partner countries across the Indo-Pacific, led by the United States, to coordinate more resilient supply chains for semiconductors and other industries.
    Within the G7, the United States has championed efforts to bolster economic resilience and address harmful market distortions and global excess capacity in key sectors resulting from non-market policies and practices.   This led to the establishment of mechanisms to jointly monitor and respond to these detrimental practices, including in the semiconductor sector.  
    President Biden recognizes the benefits for our workers and businesses from strong alliances and a rules-based international trade system based on fair competition.  The Biden-Harris Administration will continue to collaborate with allies and partners on this critical issue in the coming days and weeks.  

    MIL OSI USA News –

  • MIL-OSI Global: Why there’s no such thing as normal in child development

    Source: The Conversation – UK – By Samuel Forbes, Associate Professor in Psychology, Durham University

    Hasnuddin/Shutterstock

    For parents, carers and teachers, it’s often tempting to base our thinking on a child’s development around what we understand as “normal”. Much of the time we do this without thinking, describing a child as “doing well” in one subject and “behind” in another.

    Whenever we make this sort of comparison, we have some sort of mental benchmark or yardstick in our head: for example, a toddler should be able to climb on furniture by age two. Increasingly, child development researchers are arguing that the same thing happens in child development research — the study of how behaviours and abilities such as language develop.

    Many of the studies that claim to research child development either implicitly, or explicitly, claim that their findings are universal.

    There could be many reasons for this. Sometimes there’s a temptation to oversell conclusions, sometimes it might be the way findings are interpreted by readers or the media. The upshot is that what’s been found in one group of children is then taken as the standard — the yardstick against which future research is compared.

    Most of the research into how children develop comes from wealthier, western countries, in particular the US, the UK, the Netherlands, Germany and France. Chances are, if you’ve heard of milestones in child development, they were developed in one of these countries.

    This is so much so that it can be challenging to do basic research on child development in developing countries, as peers and reviewers will ask for or demand comparisons to western populations to put findings from these regions in context. Of course without realising it, these peers and reviewers have set up western children as a norm.

    Most of the existing academic research on child development comes from western countries.
    Olesia Bilkei/Shutterstock

    But is it fair to make these comparisons? One of the tricky things about researching child development is that it occurs within a cultural and social context it can’t be removed from. But this context is often messy. Differences in physical environment, parenting styles, location, climate and so on all interact to shape how children grow.

    Besides these differences, there is individual variation as well. These could be, for instance, curiosity, shyness and neurodiversity, which can all frame how a child shapes their own learning environment.

    Take for example the field of motor development in infancy – the study of
    how children learn to move. Many parents in particular might be familiar with charts showing when they can expect their child to sit, crawl, stand and run. The existence of these charts make it seem pretty universal, and often a child’s motor development is judged accordingly.

    This makes sense. Early research was preoccupied with finding out what was normal, and it makes sense to try to support children who might be at risk of falling behind. The timing and order investigated back then led to the norms and scales we still use today.

    Is something like motor development timing universal? It’s easy to imagine that it might be. When there are no physical or cognitive barriers we all learn to sit and stand, so on the surface it seems fair to say this could be.

    But it turns out that the context that children develop in plays a huge role even
    in something as seemingly universal as this. In countries and
    cultures where babies routinely receive firm massages from caregivers, such as in Jamaica, motor development is accelerated. It’s clear that a norm developed in one culture might not translate well to another.

    Beyond norms

    It’s clear to see that the problems highlighted above are not unique to motor development. In areas like language development or social development the cultural component is even more compelling.

    There is simply no way of understanding these elements of child development without also understanding the context in which they take place. Every child is developing within a context and however normal our own culture feels to us, there is no objective context-free norm that we can compare other children to. That is, to say, we should embrace the mess.

    If we think of normal child development as being something that just happens, researchers miss out on understanding the dynamics of development itself. But worse, educators and caregivers might not realise development is something we can act upon, and miss an opportunity to enact change.

    An important part of seeing child development as being intertwined with culture is that it doesn’t just mean collecting data from other cultures, but involving local communities and research perspectives. Understanding communities means listening to them, empowering them and making space for them to have a voice.

    Moving beyond a western-centric understanding of child development won’t just benefit researchers and lead to more accurate science, but hopefully benefit everyone working with children around the world.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Why there’s no such thing as normal in child development – https://theconversation.com/why-theres-no-such-thing-as-normal-in-child-development-244681

    MIL OSI – Global Reports –

  • MIL-OSI: BTCC Exchange Celebrates OG Week 2 with Exclusive FLOKI AMA on X Spaces

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Dec. 23, 2024 (GLOBE NEWSWIRE) — BTCC, one of the longest-standing cryptocurrency exchanges, recently hosted an engaging AMA (Ask Me Anything) session on X Spaces featuring FLOKI, one of the original meme coins in crypto.

    The AMA was part of BTCC’s “OG Week” campaign, where iconic long-term meme coins are spotlighted and celebrated. Pedro Vidal, Community Relations Officer for Floki and TokenFi Blockchain, joined the session to discuss FLOKI’s vision for 2024 and beyond.

    The AMA was a resounding success, with over 1,500 crypto enthusiasts tuning in to explore FLOKI’s journey, and check out some big developments landing this coming year. Anyone interested in listening back can check out the AMA here

    Highlights of the Discussion

    The AMA covered many points, and gave a deep insight into FLOKI’s history, position in the crypto market, and some exciting points for 2025:

    Topic 1 – FLOKI’s Inception

    Topic 1 covered FLOKI’s inception, and discussed how FLOKI was born from a tweet from Elon Musk in 2021. Though the coin initially suffered rug pulls from the team who initially launched the project, it has now become a community-led project.

    FLOKI is now governed by a DAO, leaving the ownership and direction of the token in the hands of the community. The DAO is important as it aligns closely with the current team’s focus on community feedback, utility and transparency, and dedication to the success of the project – and also to avoid the pitfalls from the initial launch of the coin.

    Topic 2 – FLOKIs Blockchain Gaming Platform

    Topic 2 focused on the big ticket success on FLOKI – Valhalla. The crypto household name game took the market by storm and features all the hallmarks of a global superstar – from an easy-to access, browser-based design, and global accessibility, everyone inside the FLOKI community is excited about the future of Valhalla.

    “The idea is to continue to improve and leave blockchain forever changed.”

    – Pedro Vidal, on Floki’s Valhalla Metaverse game

    Topic 3 – FLOKI Debit Card and Trading Bot

    Another hot topic on the agenda was the FLOKI debit card, which now offers crypto enthusiasts a way to spend their crypto across 8 different chains, with 0% transaction fees. The cards are available in both physical and virtual forms, which is another step toward FLOKI’s vision of a more financially enabled world, powered by memecoins.

    FLOKI have also released their Telegram trading bot, aiming to streamline the trading experience, all from inside users’ telegram accounts. The bot supports multiple chains and is live now!

    Topic 4 – 2025 and Beyond

    For 2025, Pedro emphasized the importance of staying true to the project’s values of transparency and utility, and managing and promoting growth were emphasized – however 2025 shapes up for FLOKI, the ecosystem looks set for a rapid expansion.

    FLOKI is available on BTCC for spot and futures trading. Up to 50x leverage is supported, and as one of the hottest meme coins on the platform, interest looks set to build for the coming season.

    BTCC OG Week

    To celebrate the OG meme coins that laid the foundations for the current cycle’s top gainers like DOGE, FLOKI, and PEPE, BTCC Exchange has announced the BTCC OG Week campaign, where meme fanatics can undertake social and trading tasks to win USDT rewards, with a prize pool of 300 USDT and 300 USDT in withdrawable rewards each week.

    Week 1, which saw BTC in the limelight has already concluded, and winners of the trading competition have already been announced on BTCC’s X page.

    BTCC continues its OG Week campaign with the featuring DOGE, and there’s plenty more amazing content to come.

    Going forward, BTCC have scheduled more AMAs and special features on other long-term meme coins. To stay updated on future campaigns and win exclusive rewards, follow BTCC’s X account.

    For additional information, visit BTCC’s website or follow BTCC and Floki on X.

    Media Contact Details
    Contact Name: Aaryn Ling
    Contact Email: press@btcc.com

    About BTCC

    BTCC is a long-standing crypto exchange with over 13 years experience in the crypto space, and 0 security breaches. BTCC makes crypto trading easier with user-centric features that are sure to suit the needs of novice and advanced traders alike, wherever they are in the world.

    Disclaimer: This content is provided by BTCC. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/634ab0fe-7ecb-48c0-bc9d-f8c188a3fb50

    The MIL Network –

  • MIL-OSI: Revolutionize Your Crypto Trades: BexBack Offers Double Deposit Bonus and 100x Leverage Crypto Trading No KYC

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Dec. 23, 2024 (GLOBE NEWSWIRE) — As Bitcoin’s price recently surged past the $100,000 milestone only to dip below this critical level, market volatility has reached new highs. Analysts predict that Bitcoin may be entering a prolonged phase of high volatility. In such a dynamic environment, holding spot positions alone may no longer yield consistent short-term profits. To empower traders in seizing these market opportunities, BexBack Exchange has launched a suite of enticing offers:

    • 100% Deposit Bonus
    • $50 Welcome Bonus for New Users
    • Up to 100x Leverage for Cryptocurrency Trading

    These offers create unmatched profit potential for crypto investors while providing an edge in navigating volatile markets.

    What Is 100x Leverage and How Does It Work?

    100x leverage allows traders to amplify their positions with minimal capital. For instance:

    • If Bitcoin is priced at $90,000 and a trader opens a long contract with 1 BTC, using 100x leverage equates to a transaction value of 100 BTC.
    • If the price increases to $99,000 the next day, the profit will be calculated as:
      (99,000 – 90,000) * 100 BTC / 90,000 = 10 BTC, resulting in a remarkable 1000% yield.

    When combined with BexBack’s 100% deposit bonus, the potential profit can double, offering even higher returns.

    Note: While leveraged trading magnifies profits, it also increases liquidation risks.

    How Does the 100% Deposit Bonus Work?

    BexBack’s deposit bonus is designed to enhance traders’ potential. While the bonus cannot be withdrawn directly, it can be used to open larger positions or as extra margin during significant market fluctuations, effectively reducing the risk of liquidation.

    About BexBack

    BexBack is a leading cryptocurrency derivatives platform offering 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. Headquartered in Hong Kong with offices in Singapore, Japan, the United States, the United Kingdom, and Argentina, BexBack holds a US MSB (Money Services Business) license and is trusted by over 100,000 traders worldwide, including users from the United States, Canada, Europe and beyond.

    Key features include:

    • No KYC Requirement: Trade instantly without cumbersome identity verification.
    • 100% Deposit Bonus: Double your funds and amplify your profits.
    • High-Leverage Trading: Maximize capital efficiency with up to 100x leverage.
    • Demo Account: Practice risk-free trading with 10 BTC in virtual funds.
    • Comprehensive Trading Options: Enjoy feature-rich trading on both Web and mobile platforms.
    • Convenient Operations: Experience no slippage, no spread, and fast, accurate trade execution.
    • 24/7 Global Support: Benefit from around-the-clock customer service.
    • Lucrative Affiliate Rewards: Earn up to 50% commission as a promoter.

    Take Action Now—Don’t Miss This Opportunity!

    If you missed the previous crypto bull run, now is your chance to capitalize on the market’s momentum. With BexBack’s 100x leverage, 100% deposit bonus, and $50 bonus for new users (available upon completing one trade within a week of registration), traders can position themselves for success in the next bull run.

    Sign up on www.bexback.com today, claim your exclusive bonus, and start accumulating more BTC!

    Media Contact
    Business Team
    Email: business@bexback.com
    Website: www.bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7ff2bd9f-7765-448d-b96a-401885758143

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3e87d43e-f245-47bb-a008-1b08b56e0a6b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/12135f1b-04cc-403c-a06a-57694a16c7fb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/84e6fc2d-66a7-4f13-9b88-b95baf95b6ad

    The MIL Network –

  • MIL-OSI USA: 2024 in Review: Highlighting the Best of Landsat

    Source: US Geological Survey

    What makes Landsat so valuable is its unmatched record, with more than 50 years of data about Earth’s land surface. And it’s all open to the public at no cost. This vital resource continues to monitor change in the world’s land masses and water resources.  

    This year, international reports echoed the message that Landsat is among the most impactful, quality-driven Earth observation imaging programs. Scroll down to read about two such reports. 

    Landsat data has long provided opportunities for improved monitoring and management of all of Earth’s landforms and ecosystems. From delicate mangroves and freshwater wetlands to mountainous forests damaged by fire and landmasses and ice sheets from pole to pole. Landsat is an invaluable resource, helping land managers and scientists evaluate the changes to land surfaces, and then determine the best step forward to mitigate or influence future land change. 

    Scroll through the stories below to learn how applying Landsat data enabled scientists to advance research in 2024. 

    Landsat’s reputation for top quality Earth observation capabilities helps strengthen the partnerships the USGS maintains with longstanding international collaborators. This year, important new agreements were signed relating to the future of Earth observation and the next Landsat mission. These partnerships are made possible by the Landsat 2030 International Partnership Initiative that was announced in late 2023. 

    Scroll down to read more about the new agreements, see highlights from a visiting international ambassador, and learn how international cooperators and their ground station operators keep informed about Landsat.

    Spectral band comparisons between Landsat 8 and Landsat 9 , with those of Landsat Next. Click to enlarge. 

    The new Landsat Next mission will help unlock new opportunities for research studies relating to water quality, crop production and plant stress, climate and snow dynamics, soil health and other essential environmental variables.

    A significant milestone for the Landsat Next mission this year is the selection of a contractor to design, build, test, and deliver the sensors that will be on board the Landsat Next mission’s constellation of 3 identical satellites. Each sensor will collect Earth observation data in 26 spectral bands with high resolution. Overall, the constellation will collect about 20 times more data than Landsat 8 or Landsat 9.  

    Visit the links below to hear a podcast and view webpages to learn more about the Landsat Next mission. 

    After 25 years of orbiting around the Earth more than 132,000 times, the Landsat 7 mission is nothing short of legendary. The Enhanced Thematic Mapper Plus sensor onboard the satellite captured over 3.3 million images. Move the slider back and forth on the image below to see the massive growth of the Las Vegas area from 1999 to 2024. The 2024 image marks the satellite’s 25th anniversary and stands as a tribute to Landsat 7’s quarter-century legacy of Earth observation.

    Landsat 7 images of Las Vegas: July 4, 1999, and May 28, 2024. 
    Click to view full size graphic. 

    Landsat 7 satellite images continue to support studies of how land is used and how it has changed across urban, agriculture, forest, snow, and ice-covered areas around the globe, as well as natural and manmade disasters. 

    The magnitude and impact that Landsat 7 brought to scientists and those interested in studying the Earth’s landmasses are summarized in this graphic. 

    Read the USGS News release about the Landsat 7 mission. 

     

    Events captured by Landsat 7

    Landsat 7 witnessed events that changed the landscape on Earth slowly, such as the expanding Las Vegas urban sprawl shown above. Some of the significant events that changed the Earth much faster include the 2001 World Trade Center attack, the aftermath of Hurricane Katrina in 2005, and the Deepwater Horizon Oil Slick in the Gulf of Mexico in 2010.   

    The images and podcasts linked below provide just a glimpse into the 25 years of Landsat 7. From its launch in 1999 to sending down its final science mission data in 2024, this historic mission helped us appreciate and better understand Earth’s land surfaces. 

    MIL OSI USA News –

  • MIL-OSI Canada: Statement from Premier Pillai on the Council of Federation Fall 2024 meeting

    Source: Government of Canada regional news

    Statement from Premier Pillai on the Council of Federation Fall 2024 meeting
    zaburke

    Premier Ranj Pillai has issued the following statement:

    “This week, I had the privilege to join Premiers for the Council of the Federation Fall 2024 meeting in Toronto. We discussed key priorities for the coming year, uniting our voices on issues that matter to all Canadians, including Canada-U.S. relations, health care and energy security.

    “Canada-U.S. relations were a central focus of our discussions. For the Yukon, this means continuing to strengthen our relationship with Alaska, which benefits both sides of the border. Premiers are committed to working hard to avoid any potential U.S. tariffs and agreed on the need to accelerate achieving the NATO defence spending target of two per cent of gross domestic product (GDP). Arctic security was also highlighted in these discussions, and I look forward to raising our interests during the Premiers’ mission to Washington, D.C. in February 2025.

    “For Yukoners, improving health care is a top priority. Our government is working to address the health workforce shortage by supporting recruitment and retention efforts. I know that Minister of Health and Social Services, Tracy-Anne McPhee, along with many health system partners, highlighted our progress in the first annual report on the Health Human Resources Strategy. Premiers continue to stress the need for more resources to tackle the Substance Use Health Emergency, which continues to deeply impact communities across the territory. Faster access to prescription medicines was also an important part of the Premiers’ discussion, and I look forward to seeing progress on this file, led by our respective health ministers.

    “Energy security was another major topic of discussion. As emerging technologies create new opportunities, we must work together to ensure energy is reliable, affordable, and sustainably produced. Critical minerals and energy corridors will play a crucial role in securing Canada’s future prosperity.

    “In addition to the Council of the Federation meeting, I was honoured to once again join Premier of Nunavut P.J. Akeeagok and Premier of the Northwest Territories R.J. Simpson to discuss northern priorities on the national stage. Arctic security, infrastructure and critical minerals were at the top of the agenda. We emphasized the need for more federal investment in these areas to address the unique challenges faced by northern communities. The North must have a seat at the table when it comes to decisions that impact our future. I would like to thank Premier P.J. Akeeagok for his work as chair over the past year and look forward to hosting the 2025 Northern Premiers’ Forum as incoming chair.

    “Attending the Council of Federation is an important opportunity to amplify Yukoners’ voices and advocate for the North. I am honoured to join Premiers in promoting collaboration and remaining committed to working together. I am proud of our continued partnership on these crucial issues and thank Premier Ford for hosting us in Toronto.”
     

    Media contact

    Laura Seeley
    Cabinet Communications
    867-332-7627
    laura.seeley@yukon.ca 
     

    News release #:
    Related information:
    Premiers Discuss Important Issues for Canadians
    Government of Yukon addresses Health Human Resources challenges
    Statement from Premier Pillai on meeting with northern Premiers

    MIL OSI Canada News –

  • MIL-OSI Asia-Pac: “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)

    Source: Hong Kong Government special administrative region

    “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)
    “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)
    ******************************************************************************

         The “Immersive Hong Kong” roving exhibition opened in Dubai, the United Arab Emirates, today (December 20). This is the fifth stop of the exhibition, following its successful staging by the Information Services Department (ISD) of the Hong Kong Special Administrative Region Government in Jakarta, Indonesia; Bangkok, Thailand; Kuala Lumpur, Malaysia; and Guangzhou, China between July 2023 and August 2024.      Organised in collaboration with the Hong Kong Economic and Trade Office in Dubai (Dubai ETO), the exhibition is part of the ISD’s promotional campaign to showcase the city’s new attractions, advantages and opportunities. Themed “Hong Kong – Where the World Looks Ahead”, it invites visitors from the Middle East to explore the unique potential for tourism, business and investment in Hong Kong.      The Director of Information Services, Mrs Apollonia Liu, said Hong Kong has been actively expanding and deepening its overseas networks, including closer co-operation and engagement with the Middle East.      “The Chief Executive, Mr John Lee, and a number of Principal Officials have led delegations to visit the Middle East since last year to strengthen Hong Kong’s connections with the region, to tell good stories of Hong Kong, and to explore greater business opportunities.      “Building on the success of the previous runs of the exhibition, we are bringing it to the Middle East for the first time. We hope that the exhibition in Dubai will provide an opportunity for our friends in the region to understand more about our city and its unique potential,” she said.     Through interactive art technology, the “Immersive Hong Kong” exhibition enables visitors to delve into different virtual scenes representing the city with a creative twist. The five thematic zones, namely “Financial Bridgehead”, “I&T Brain Bank”, “Blossoming Creativity”, “Diversity and Greenery” and “Buzzing Sports Action”, feature multiple interactive art projections, light box installations and naked-eye 3D displays, presenting the multifaceted appeal of Hong Kong. There is a special introduction to the Kai Tai Sports Park, Hong Kong’s new state-of-the-art multi-purpose sports venue, which is set to officially open in the first quarter of 2025.      Visitors may also enjoy the city’s vibrant and colourful skyline, illustrated by Hong Kong artist Messy Desk (Jane Lee), at a photo corner in the venue. Promotional videos on Hong Kong and digital panels with information and insights shared by companies and prominent individuals from the Middle East about their experiences in Hong Kong are also on display, explaining why the city is one of the most desirable places to visit, live, work and invest.     To encourage more people to visit Hong Kong, an interactive game, “Snap a cool shot @Immersive Hong Kong”, is also part of the exhibition. Two winners will receive attractive prizes sponsored by Cathay Pacific. The winner of the Grand Prize will receive two round-trip business class air tickets from Dubai to Hong Kong, while the runner-up will receive two round-trip economy class air tickets on the same itinerary.     To give Middle East audiences a taste of Hong Kong’s cultural offerings, a pop music concert by SENZA A Cappella and a street dance performance by Move Beyond will be staged at the exhibition venue from today to December 22.     The exhibition is being held at The Beach, Jumeirah Beach Residence, a buzzing residential, shopping and dining complex in Dubai, until January 5, 2025. Admission is free, and visitors will be offered souvenirs during the event. In addition to Dubai ETO, other supporting organisations of this event include the Belt and Road Office of the Commerce and Economic Development Bureau, Hong Kong Talent Engage, Cathay Pacific, the Hong Kong Trade Development Council, the Hong Kong Tourism Board, and the Kai Tak Sports Park.      More information on the exhibition is available on the dedicated page on the Brand Hong Kong website (www.brandhk.gov.hk/en/campaign/hkpromotion-middle-east) as well as the website of Dubai ETO (www.hketodubai.gov.hk/en/index.html).

     
    Ends/Friday, December 20, 2024Issued at HKT 23:44

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Celebrate the Holidays with BTCC Exchange’s Christmas & New Year Bash: 1,000,000 Gold Coins Up for Grabs

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Dec. 20, 2024 (GLOBE NEWSWIRE) — BTCC is spreading holiday cheer with its Christmas & New Year Bash, an exciting trading campaign running from December 19, 2024 to January 12, 2025. Traders can earn gold coins by trading select future pairs or making deposits, and the gold coins can be exchanged for trading fund rewards.

    As Bitcoin’s price recently surpassed the $100,000 milestone and optimism sweeps the market, trading volumes are surging. BTCC Exchange’s holiday campaign comes at the perfect time, allowing users to capitalize on market opportunities while enjoying rewards that help lower trading costs.

    Meme coins like PEPE, SHIB, and FLOKI have been making waves, and BTCC is encouraging users to trade these pairs to earn gold coins. Other popular trading pairs, including ADA/USDT and SAND/USDT, are also available in the campaign. Traders achieving a daily trading volume of at least 1,000 USDT can earn gold coins for consecutive daily trades, with up to 200 coins available for a daily trading streak of 24 days.

    Additionally, deposits of 1,000 USDT or more can earn users 60 coins per deposit, with a maximum of 5,000 coins available per user. The gold coins earned can be exchanged for trading fund rewards which can cover trading losses, trading fees, and funding fees when trading perpetual futures.

    “December has been a record-breaking month for BTCC in trading volume, and this campaign is our way of giving back to our loyal users,” said Alex, Head of Operations at BTCC Exchange. “The Christmas & New Year Bash rewards users while helping them make the most of this exciting period in the crypto market.”

    With Bitcoin approaching its 16th anniversary and BTCC soon celebrating 14 years as one of the longest-running exchanges in 2025, this campaign underscores BTCC’s commitment to providing rewarding experiences for its users.

    About BTCC

    Founded in 2011, BTCC is one of the world’s longest-serving cryptocurrency exchanges. Known for its secure, user-friendly, and innovative trading environment, BTCC remains a trusted platform for millions of crypto traders globally.

    Join the Christmas & New Year Bash campaign: https://www.btcc.com/market-promotion/bonus2/earnXmas/en-us

    Contact: press@btcc.com

    The MIL Network –

  • MIL-OSI: 41/2024・Trifork Group AG announces agreement on partial divestment of a Trifork Labs portfolio company

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 41 / 2024
    Schindellegi, Switzerland – 20 December 2024

    Trifork announces agreement on partial divestment of a Trifork Labs portfolio company

    The shareholders of a portfolio company in Trifork Labs have today entered into an agreement to divest 30% of the existing shares to an equity fund investor. Trifork has participated pro-rata and will continue as a minority shareholder in the company.

    Financial impact of the partial sale for Trifork
    The undisclosed transaction valuation exceeds the book value of the company previously recorded in Trifork Labs and therefore has a material positive impact on both realized and unrealized gains recorded in Trifork Labs. The transaction will contribute with a financial gain of EURm 9.6 in Q4 2024. More information about the transaction and its impact on Trifork Group will be shared in the Annual Report 2024.

    Comment from Jørn Larsen, CEO of Trifork Group
    “I am happy to see that Trifork Labs continues to build on its outstanding investment track record in disruptive technology innovators early in their entrepreneurial journeys. Trifork Labs has historically contributed to funding the Group’s investments in organic growth and acquisitions. Looking at our existing portfolio, we are confident that more success stories will emerge in the future, ensuring strong value creation for Trifork Group’s shareholders over time.”

    Contact
    Frederik Svanholm, Group Investment Director & Head of IR
    frsv@trifork.com, +41 79 357 7317

    About Trifork Group  
    Trifork is a pioneering global technology partner that empowers enterprise and public sector customers with innovative solutions. With 1,278 professionals across 76 business units in 15 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    About Trifork Labs
    Trifork Labs leads the venture-financed R&D activities of the Trifork Group. Trifork Labs has been active in founding, co-founding, and investing in innovative B2B software companies for more than 20 years. Today, the portfolio consists of 25 companies from around the world. Previous successful exits include global successes such as Chainalysis, Tradeshift, and Humio. By centering innovation efforts around companies founded either by Trifork’s own employees or externally by customers, partners, or entrepreneurs, the Group learns about new technologies and new possibilities of software while providing portfolio companies access to Trifork’s technical support, commercial experience, global customer base, investor network, and capital. Learn more at labs.trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: BitMart Research: BMX 2024 Annual Report

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Dec. 20, 2024 (GLOBE NEWSWIRE) — Recently, BitMart released the BMX 2024 Annual Report.

    1. 2024 Crypto Market Review

    At the beginning of the year, capitalizing on the momentum generated by the previous year’s bull market, BTC achieved a peak price of $73,881 in March. Nevertheless, despite the occurrence of its halving event in April, the market did not transition into a sustained upward trajectory. Instead, it underwent a significant decline in June, resulting in an extended period of adjustment. The primary catalysts in the first half of the year included the approval of an ETF for both Bitcoin and Ethereum, as well as the halving event. While the introduction of the ETF attracted institutional investment and enhanced the recognition of cryptocurrency assets within traditional financial markets, the halving event, despite lacking immediate positive impacts, is anticipated to substantially increase the value of Bitcoin over the long term. The market correction observed in June was precipitated by numerous factors, including Japan’s interest rate hikes, developments surrounding the Mt. Gox compensation case, and the German government’s liquidation of crypto assets, which collectively heightened selling pressure and instigated market panic.

    In the latter half of the year, the cryptocurrency market experienced a resurgence of momentum. Expectations regarding interest rate cuts revitalized the market, while the election victory of Donald Trump contributed to a robust recovery, resulting in BTC prices exceeding the $100,000 threshold and reaching a new all-time high of $104,088. Consequently, the total market capitalization of cryptocurrencies and trading volumes witnessed significant increases. In this context, altcoins displayed strong performance, with substantial gains observed in SOL, ETH, XRP, and ADA across various sectors. Trump’s proposed policies — characterized by the easing of regulations, the establishment of national reserves, and the support of mining enterprises — emerged as central themes for market recalibration. This highlights the positive influence of clear regulatory frameworks in enhancing User confidence and fostering growth within the industry.

    In contrast to previous years, the participation of institutional users has begun to significantly reshape market dynamics. Bitcoin’s dominance has continued to strengthen, while Ethereum has encountered challenges to its previously monopolistic position due to competition from emerging blockchain technologies and its constrained value capture capabilities. Concurrently, the decline in the popularity of altcoins has facilitated the emergence of the MEME sector as a new focal point within the market. These developments indicate a discernible trend toward diversification within the cryptocurrency industry.

    2. BMX Market Performance

    Figure 1: Annual Changes in Exchange Platform Tokens’ Prices and Market Capitalizations

    (Data Source：CMC、CG)

     According to data from CoinMarketCap and CoinGecko, the prices and market capitalizations of platform tokens from major exchanges have exhibited an upward trajectory over the past year, although notable variations in performance have been observed. BMX experienced a price escalation of 57.9% accompanied by a market capitalization increase of 56.8%, culminating in a total market capitalization of $262 million, indicative of consistent growth. Generally, lower-market-cap tokens have experienced substantial benefits due to their smaller baselines, resulting in rapid growth. In contrast, higher-market-cap tokens have demonstrated stable growth, reflecting resilience albeit with comparatively slower rates of increase.

    It is worth noting that Trump’s presidency may lead to clearer crypto market regulations, potentially reshaping the global cryptocurrency landscape. This development could significantly impact the future of the crypto industry. The resignation of SEC Chairman Gary Gensler further signals a turning point for crypto enterprises previously targeted by SEC lawsuits. Centralized exchanges, long under SEC scrutiny, are likely to benefit substantially from this leadership change, potentially achieving significant progress in regulatory compliance.

     Figure 2: Comparison of Exchange Spot Average Daily Trading Volume and Circulating Market Capitalization Over the Past Year

    (Data Source：CMC、CG)

     According to data from CoinGecko, the circulating market capitalization of BMX currently amounts to $262 million, a figure that is significantly lower than that of other exchange platform tokens. However, BitMart has demonstrated an average daily spot trading volume of $803 million over the past year. A comparison of BMX’s market capitalization with BitMart’s daily trading volume reveals that the exchange’s trading activity exceeds the valuation of its platform token. Furthermore, both the market capitalization and price of BMX have experienced considerable growth over the last year. This trend indicates that, despite its relatively modest market capitalization, BMX is undergoing heightened market activity and demand, as the broader market gradually starts to acknowledge its potential value.

     3. BMX Burn Progress

    Figure 3: BMX Burn Progress Table

    In accordance with the repurchase mechanism detailed in the BMX whitepaper, BitMart executed the repurchase of approximately 5,672,978 BMX tokens in the year 2024, amounting to a total value of approximately $2,034,343. This series of repurchase initiatives underscores BitMart’s ongoing commitment and confidence in its platform token, BMX. By allocating a portion of its revenue generated from transaction fees towards these repurchases, BitMart has effectively decreased the circulating supply of BMX in the market, thereby contributing to its stability and scarcity.

     4. New Features and Activities for BMX in 2024

    Figure 4: New BMX Features in 2024

    In 2024, BMX introduced a series of new features that substantially enhanced its value and liquidity. The implementation of a staking feature enables users to obtain stable annual returns without facing any entry barriers, thereby attracting a larger number of long-term participants. Additionally, the small asset conversion feature addresses the issue of “dust” balances in user accounts, improving the utility of minor assets while expanding the practical use cases for BMX. Users can also benefit from transaction fee discounts and engage in various platform activities. Furthermore, the establishment of a P2P trading market has rendered BMX trading more adaptable, allowing users to conduct transactions using diverse payment methods, which, in turn, increases the liquidity and market demand for BMX. The listing of BMX on KuCoin signifies an important step in its expansion within the global market, drawing greater interest from users. Additionally, the introduction of the BMX Flash Sale feature has further elevated the exclusive benefits available to holders.

    The introduction of the stake-to-list feature has empowered BMX holders to make independent decisions regarding the listing of projects on BitMart, while also benefiting from shared transaction fees and additional advantages. This initiative fosters a sense of collective ownership, enhances decision-making authority, and provides users with control, growth opportunities, and shared responsibilities within the BitMart community.

    The recent enhancements to the BMX platform have significantly broadened its range of applications, offering users an increased array of opportunities for investment returns and active participation. With functionalities including staking, conversion, peer-to-peer trading, IEO, and stake-to-list mechanisms, the diverse features of BMX have substantially elevated its market appeal and liquidity. These improvements have not only enriched the user experience but have also contributed to the platform’s growth and adoption within the cryptocurrency market.

    Figure 5: New BMX Activities in 2024

    In 2024, BMX implemented several strategic initiatives that significantly enhanced its market appeal and user engagement. These initiatives encompassed trading competitions, external collaborations, and community-building programs. The trading competitions incentivized a substantial influx of participants, thereby increasing the liquidity of BMX. External collaborations not only served to promote BMX but also elevated the visibility of related projects. The community-building program recognized and rewarded active members, while also providing essential traffic support. Collectively, these initiatives not only broadened the applications of BMX but also improved its liquidity and market influence. Through this program, BMX fostered user retention, attracted a greater number of dedicated users and community contributors, and bolstered its market activity and long-term growth potential.

    5. BMX Value Benefits

    – Higher Account Levels and Trading Fee Discounts: BMX holders are eligible for higher account levels and better trading fee rates. The more BMX a user holds, the greater the discount they receive.

    – Higher Copy Trading Profit Share: BMX holders qualify for a higher percentage of copy trading profit sharing.

    – Participation in Launchpad: BMX holders can participate in BitMart’s exclusive Launchpad and receive free airdrops of newly listed tokens.

    – VIP Membership Upgrade Criteria: BitMart offers a lifetime VIP membership plan, and holding BMX is one of the criteria for upgrading.

    – Stake-to-List: Users can stake BMX to support their favorite projects and earn rewards.

    – Participation in BitMart Products: Users can stake BMX to participate in various products offered by BitMart and earn higher interest rates.

    – Ecosystem Payment Token: BMX can be used as a payment token for projects within the BitMart ecosystem.

    – Holding Trading Rebate: Invite friends to hold and trade BMX to earn rebates.

    Risk Warning:

    Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

    The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. Investing involves risks, and the content should be approached with caution. BitMart does not provide any investment, legal or tax advice.

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.  

    The MIL Network –

  • MIL-OSI: Wall Street Pepe Raises $32M in Presale for New Trading Insights Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    LUZERN, Switzerland, Dec. 20, 2024 (GLOBE NEWSWIRE) — Wall Street Pepe (WEPE), a new crypto project combining meme coin culture with trading tools, has raised $32 million during its ongoing presale.

    The project aims to offer retail traders market insights, trading signals, staking features, and a community-driven trading reward program.

    WEPE Token Presale: Early Staking Rewards

    Since its December 3 launch, the Wall Street Pepe presale has attracted attention. WEPE tokens are priced at $0.000365 during the current presale stage and can be purchased directly on the project’s website with crypto or card payments.

    According to Wall Street Pepe’s whitepaper, the team has allocated 20% of the 200 billion token supply to early buyers. Early buyers can also stake their WEPE tokens for rewards before the official launch. Staking rewards will be distributed over three years, with 3,044 WEPE tokens released per Ethereum block.

    https://twitter.com/WEPEToken/status/1869776758599303548

    Although the team has not set a hard cap or end date for the presale, their roadmap suggests an exchange listing is in the works for shortly after it concludes. Investors can also claim their purchased WEPE tokens once the presale ends.

    Updates on Wall Street Pepe’s presale and future developments are shared through X (formerly Twitter) and Telegram.

    Wall Street Pepe Introduces “WEPE Army” to Empower Retail Traders

    Wall Street Pepe is creating an ecosystem to provide retail traders with enhanced tools and resources. At the center of this ecosystem is the “WEPE Army” – an exclusive group where token holders can access trading signals, real-time market updates, and insights into new projects.

    The developers’ approach focuses on providing accessible trading knowledge. They will also host regular trading competitions with WEPE token rewards.

    To boost trust, Wall Street Pepe has also been audited by the team at Coinsult. Their audit found no issues with WEPE’s smart contracts or code.

    Wall Street Pepe’s mix of meme coin appeal and practical trading applications has drawn attention in the broader crypto community. For example, the project was recently featured in an analysis video from 99Bitcoins.

    About Wall Street Pepe (WEPE)

    Wall Street Pepe is a new cryptocurrency project that combines meme coin elements with a trading insights ecosystem for retail investors. The ecosystem integrates trading signals, educational resources, and competitions.

    Readers can visit the Wall Street Pepe presale here.

    Website: https://wallstreetpepe.com/

    Contact

    Wall Street Pepe

    https://wallstreetpepe.com/ 

    info@wallstreetpepe.com 

    The MIL Network –

  • MIL-OSI Economics: How Has Dollarization Served Timor-Leste So Far?

    Source: International Monetary Fund

    Preview Citation

    Format: Chicago

    Export Citation

    • ProCite
    • RefWorks
    • Reference Manager

    • BibTex
    • Zotero

    Summary

    This paper analyzes Timor-Leste’s historical economic performance and structure under dollarization. It considers several dimensions that determine the benefits and costs of the regime: (i) growth and inflation performance; (ii) business and financial cycle synchronization; (iii) adjustment to external shocks; and (iv) competitiveness. Dollarization has helped Timor-Leste achieve relatively low and stable inflation in the context of post conflict fragility, but may be contributing to weakening competitiveness. Improved performance under dollarization requires reduced fiscal imbalances and advancement of reforms that address structural bottlenecks that also undermine competitiveness.

    Subject: Business cycles, Competition, Conventional peg, Currencies, Dollarization, Economic growth, Exchange rate arrangements, Exchange rate flexibility, Expenditure, Financial markets, Foreign exchange, Inflation, Monetary policy, Money, Prices, Real effective exchange rates

    Keywords: Business cycles, Business cycles, Commodity price fluctuations, Competition, Competitiveness, Conventional peg, Currencies, Dollarization, Dollarization, Exchange rate arrangements, Exchange rate flexibility, Exchange rates, Inflation, Real effective exchange rates

    Publication Details

    MIL OSI Economics –