Category: Trade

  • MIL-OSI USA News: FACT SHEET: U.S. Achievements in the Global Fight Against  Corruption

    Source: The White House

    Corruption poses a grave and enduring threat to U.S. national interests and those of our partners. When officials abuse their entrusted power for personal or political gain, the interests of authoritarians and corrupt actors win – at the expense of citizens, honest businesses, and healthy societies. As the Biden-Harris Administration took office, this longstanding challenge had metastasized. In some countries, oligarchs were teaming up with foreign kleptocrats to warp policy and procurement decisions in exchange for kickbacks – with no accountability. Corrupt officials were laundering stolen assets through the U.S. and global financial systems, while local investigators were ill-equipped to follow the money. Reformers in countries saddled with corruption had scarce public resources to actually address development needs. The Biden-Harris Administration tacked these challenges starting Day One, to ensure democracy delivers and corrupt actors are held to account.

    The first National Security Study Memorandum of the Biden-Harris Administration established countering corruption as a “core U.S. national security interest,” leading to the issuance in December 2021 of the first United States Strategy on Countering Corruption. Since then, the United States has taken action at home and around the world to curb illicit finance, hold corrupt actors accountable, forge multilateral partnerships, and equip frontline leaders to take on transnational corruption. The result has been historic progress in protecting the U.S. financial system from money-laundering, including in the residential real estate sector, while enhancing corporate transparency. This Administration has mobilized record levels of foreign assistance dedicated to anti-corruption, including $339 million in Fiscal Year 2023 alone – almost double the yearly average during the previous four years. This new assistance has unlocked support for anti-corruption institutions, leveled the playing field for law-abiding businesses, enabled journalists to team up across borders, and more. Expanded law enforcement cooperation and capacity-building have generated convictions of corrupt actors as well as the seizure, forfeiture, and return of criminal proceeds, while new anti-corruption offices at the Department of State (State) and the U.S. Agency for International Development (USAID) energized diplomatic and stakeholder engagement. The United States imposed sanctions on more than 500 individuals and entities for corruption and related activities, and established – for the first time in any jurisdiction globally – a new visa restriction for those who enable corrupt activity.

    U.S. progress on anti-corruption has produced concrete benefits for the American people and stakeholders around the world – enhancing prosperity, economic security, safety, and democracy, as outlined below. To bolster and sustain this work, the U.S. government has also modernized its approach to addressing corruption as a cross-cutting priority. Today, Deputy National Security Advisor for International Economics Daleep Singh will highlight the benefits of this work to American businesses and workers at a White House anti-corruption roundtable with leaders from 15 major U.S. companies.

    Advancing economic opportunity abroad

    • Improving the business enabling environment: U.S. assistance advanced governments’ capacity to prevent, detect, investigate, and prosecute corruption, while encouraging anti-bribery compliance. State expanded its Fiscal Transparency Innovation Fund – to help willing partners improve budget transparency – while holding countries to account for progress in its Fiscal Transparency Report. In the past two years alone, a newly expanded State-Federal Bureau of Investigations (FBI) program facilitated U.S. collaboration with foreign counterparts on more than 50 transnational corruption and money laundering cases with a U.S. nexus. In coordination with State, experienced legal advisors from the U.S. Department of Justice (DOJ) assisted foreign justice partners around the world in investigating and prosecuting corruption and money laundering cases, and recovering assets. And DOJ’s Kleptocracy Asset Recovery Initiative, in partnership with the FBI and the Department of Homeland Security, has recovered more than $1.7 billion and returned or assisted in returning more than $1.6 billion for the benefit of the people harmed by the corruption.
    • Enforcing our bans on foreign bribery and money-laundering – and pressing other countries to do the same: To enable honest companies to compete overseas, the United States upheld its commitments under the OECD Anti-Bribery Convention by enforcing its foreign bribery and related laws and working with partners to monitor other countries’ progress in implementing the Convention, which celebrated its 25th anniversary in 2024. Since the start of the Administration, DOJ has imposed more than $3.5 billion in total monetary sanctions under the Foreign Corruption Practices Act (FCPA) in 16 corporate resolutions, and announced charges against more than 70 individuals. For instance, this April the former Comptroller General of Ecuador was convicted of money laundering relating to his receipt of over $10 million in bribes from, among others, the Brazil-based construction conglomerate Odebrecht S.A. The Securities and Exchange Commission continued civil enforcement of the FCPA, with approximately $1 billion in total monetary sanctions in 22 corporate resolutions, spanning conduct in 24 countries, since the start of the Administration. DOJ is also enforcing the recently enacted Foreign Extortion Prevention Act, which criminalizes demands for bribes by foreign officials from U.S. companies and others. In addition, this August DOJ announced a new Corporate Whistleblower Awards Pilot Program to uncover and prosecute corporate crime – with a particular focus on foreign and domestic corruption, as well as violations by financial institutions of their obligations to take steps to detect and deter money laundering.
    • Seizing windows of opportunity: U.S. assistance has become more agile via the establishment of USAID’s Anti-Corruption Response Fund (providing flexible support to countries experiencing new opportunities or backsliding), the State-DOJ Global Anti-Corruption Rapid Response Fund (providing assistance and case mentoring to foreign partners on short notice), and USAID’s Democracy Delivers initiative (which has marshalled $500 million in funding from the United States and others to help reformers deliver, including on their anti-corruption commitments). These innovations, informed by USAID’s Dekleptification Guide, are enabling the U.S. government to more nimbly pivot toward environments where local momentum can be bolstered by outside assistance.
    • Bolstering integrity in high-risk sectors: In April 2024, the United States and its partners launched the Blue Dot Network – a mechanism to certify infrastructure projects that have met global standards for quality and sustainability, including transparency in procurement and provisions to limit opportunities for corruption. The United States also supported the launch of PROTECT, a collective action project to address corruption risk in the supply chain for critical minerals.
    • Strengthening corruption safeguards in the Indo-Pacific: In June, the United States and thirteen other partners held a signing ceremony, after concluding eight rounds of negotiations in record time, for the Indo-Pacific Economic Framework for Prosperity (IPEF) Fair Economy Agreement. The Agreement aims to create a more transparent, predictable trade and investment environment across IPEF partners’ markets, including through binding obligations to prevent and combat corruption. The Department of Commerce (Commerce) and State are accelerating implementation by offering new anti-corruption technical assistance to IPEF partners, including workshops on procurement corruption.
    • Dialoguing with the private sector: In 2021, State launched the Galvanizing the Private Sector as Partners in Combatting Corruption initiative, which connects companies and governments to strengthen business integrity and encourage governance reform. Commerce’s International Trade Administration organized the 2024 forum of the Business Ethics for Asia-Pacific Economic Cooperation (APEC) Small and Medium Enterprises Initiative – the world’s largest public-private partnership on ethical business conduct – at which stakeholders formalized policy recommendations on business integrity in public procurement.

    Protecting the U.S. financial system from abuse

    • Expanding corporate transparency: To deter kleptocrats and criminals from laundering money through anonymous shell companies, the Department of the Treasury (Treasury) operationalized a new filing system for certain companies operating in the United States to report their beneficial owners – the real people who own or control them – pursuant to the bipartisan Corporate Transparency Act. Treasury held hundreds of outreach events across all states and territories, reaching thousands of stakeholders, to enable companies to quickly and easily comply with this reporting requirement.
    • Closing loopholes for money-laundering: Treasury finalized rules to close two major loopholes in the U.S. financial system: (1) to increase transparency in the U.S. residential real estate sector, to ensure that law-abiding homebuyers are not disadvantaged by individuals laundering their ill-gotten gains, and (2) to safeguard the investment adviser industry from illicit finance. Treasury also proposed a rule to modernize financial institutions’ anti-money-laundering/countering the financing of terrorism (AML/CFT) programs, to make them more effective and risk-based. Together, these rulemakings represent historic advances for the U.S. AML/CFT regime, in line with international standards, that will help the United States urge other countries to undertake similar reforms to curb illicit finance. The Biden-Harris Administration has also called on Congress to close even more loopholes that facilitate money-laundering by passing the ENABLERS Act.
    • Blocking assets and denying entry to corrupt actors: Since the start of the Administration, Treasury has designated more than 500 individuals and entities for corruption and related activities, across six continents. That includes blocking the assets of 20 individuals and 48 companies in Fiscal Year 2024 for corruption in Afghanistan, Guatemala, Guyana, Paraguay, Western Balkans, and Zimbabwe. In tandem, State publicly issued corruption-related visa restrictions for 76 foreign officials and family members in Fiscal Year 2024, and 292 over the course of the Administration. These actions have protected the U.S. financial system from corrupt actors and promoted accountability in domestic jurisdictions. For example, just one week after the U.S. issuance of a public visa restriction on former Director of Bosnia-Herzegovina (BiH) Intelligence Services Osman Mehmedagic for significant corruption, he was arrested by BiH authorities for abuse of office.
    • Taking aim at enablers of corruption: In December 2023, President Biden issued an historic Presidential Proclamation establishing a visa restriction for those who facilitate and enable significant corruption and their immediate family members. This new visa restriction complements existing commitments to use sanction and law enforcement capabilities to target private enablers of public corruption. Earlier this year, the FBI and DOJ secured a guilty plea and a criminal penalty of $661 million from Gunvor – one of the largest commodities trading firms in the world – for facilitating bribery of Ecuadorian officials and laundering those bribes through U.S. banks. In addition, USAID launched new activities to incentivize integrity within professions that serve as gatekeepers to the international financial system.
    • Upholding international standards: The United States has helped lead efforts to expand anti-corruption work at the Financial Action Task Force (FATF), including improving assessment tools, mitigating risks associated with “golden passport” programs, and highlighting how non-financial sectors can be abused by corrupt actors.

    Keeping America and our partners safe

    • Addressing corruption risk in the security sector: Security sector corruption can divert essential supplies, empower malign actors, threaten the safety of U.S. service members, and undermine U.S. military missions writ large. In the past year, the Department of Defense (DOD) incorporated corruption risk into its security cooperation planning – subjecting certain proposals to further scrutiny and identifying risk mitigation measures as needed. State also created new resources to weigh corruption risk as part of security sector assistance decision-making. In addition, State’s Global Defense Reform Program and DOD’s institutional capacity building programs advanced more transparent, accountable, and professional defense institutions. DOD continued running a training course on combatting corruption for partner military commanders and civilian leaders.
    • Tackling organized crime and corruption: Transnational criminal organizations often rely on corruption to enable their criminal activities and evade accountability – which fuels narcotrafficking into the United States, human smuggling, cybercrimes, and more. The U.S. government is deploying anti-corruption tools to target criminal networks and their financial enablers, in line with the 2023 White House Strategy to Combat Transnational Organized Crime.
    • Standing up to Russia’s aggression: The United States has adapted to address the wartime needs of Ukraine’s anti-corruption stakeholders, as they close off a key vector for Russian dominance and advance Ukraine’s democratic future. In 2023, Ukrainian anti-corruption investigators and prosecutors achieved an 80 percent increase in prosecutions and a 50 percent increase in convictions, plus opened cases against high-ranking officials including the former head of the Ukrainian Supreme Court.  With U.S. support, Ukraine has advanced significant reforms on asset disclosure, launched a whistleblower portal, strengthened the National Anti-Corruption Bureau, and enhanced transparency and integrity in reconstruction.
    • Securing a greener future: The United States has integrated an anti-corruption lens across sectors, with particular emphasis on addressing corruption vulnerabilities that threaten a secure, just energy transition for all. This includes USAID support to the Extractive Industries Transparency Initiative (EITI), increased mining transparency in the Democratic Republic of Congo and Zambia, and innovations that address transnational corruption in green energy mineral supply chains across 15 countries.
    • Protecting global health: Corruption curtails the ability of states to respond to pandemics and undercuts access to basic healthcare. USAID is tackling this challenge by releasing cutting-edge guidance on anti-corruption in the health sector and launching integrated programming. For example, in Liberia the United States is working with the government to curb theft of pharmaceuticals through civil society monitoring, law enforcement trainings, and public awareness campaigns.
    • Addressing the root causes of migration: Combating corruption is a core component of improving conditions in El Salvador, Guatemala, and Honduras – so people do not feel compelled to leave their homes, in line with the U.S. Strategy for Addressing the Root Causes of Migration in Central America. Recent U.S. actions have included training up to 27,000 justice sector stakeholders in those countries to more effectively address corruption.

    Defending democracy by rooting out corruption

    • Tackling electoral corruption: When candidates can be bankrolled by foreign adversaries and institutions captured by kleptocrats, citizens lose faith in their governments—or even in democracy itself. In response, USAID has launched new programs to bolster electoral integrity, strengthen independent media, and increase the transparency of political finance in high-risk locations.
    • Lifting up civil society and independent media: The U.S. government has substantially expanded support to frontline activists and journalists, including through the Global Anti-Corruption Consortium. In addition, a new State Department initiative is training hundreds of journalists in transnational corruption investigations, while USAID’s new investigative journalist networks in Asia and Southern Africa are building capacity to track corruption across sectors and across borders. The Secretary of State established a new award for Anti-Corruption Champions, which has honored dozens of courageous civil society leaders and embattled reformers. In 2022, the United States also hosted the largest regular gathering of civil society activists fighting corruption – the International Anti-Corruption Conference – in Washington, DC, with keynote remarks from APNSA Jake Sullivan.
    • Protecting sovereignty: Authoritarian actors like Russia and the PRC use bribery to interfere in the policy, procurement, debt, and electoral processes of other countries – undermining both sovereignty and democracy. The United States is standing up to this tactic by building the resilience of frontline actors to detect and deflect foreign-backed strategic corruption, educating partners about the kleptocrats’ playbook, harnessing sanction tools to deter threats, and increasing collaboration between practitioners working on anti-corruption and those addressing foreign malign influence – both within the USG and with likeminded partners. For example, in June the United States joined with Canada and the UK to expose Russia’s use of corruption and covert financing, among other tactics, to undermine democratic processes in Moldova.
    • Restoring trust in American democracy: The Biden-Harris Administration has established the strongest ethics standards of any U.S. presidency. On his first day in office, the President signed an Executive Order requiring administration officials to take a stringent ethics pledge, which extends lobbying bans, limits shadow lobbying, and makes ethics waivers more transparent. The Administration also restored longstanding democratic norms by protecting DOJ cases from political interference, releasing the President’s and Vice-President’s taxes, and voluntarily disclosing White House visitor logs. And in the last year, the Office of Government Ethics finalized rules updating the standards for ethical conduct and legal expense funds for executive branch employees.
    • Protecting American democracy from malign finance: Just as we defend democracy around the world, the U.S. government is working to keep American democracy safe from foreign adversaries. Actions to curb money laundering in the United States can help reduce the ability of foreign and domestic actors to make illegal campaign contributions and evade U.S. election laws. President Biden has called on Congress to go even further by passing the DISCLOSE Act, which would curb the ability of foreign entities and special interests to use dark money loopholes to influence our elections.
    • Revitalizing participation in the Open Government Partnership (OGP): The United States rejoined the Steering Committee of OGP – a platform for civil society and governments to forge joint commitments and learn from each other– and provided assistance for OGP’s work on anti-corruption. Domestically, the United States has turbocharged OGP implementation by creating the U.S. Open Government Secretariat at the General Services Administration, an Open Government Federal Advisory Committee, an Interagency Community of Practice – spanning federal, state, local, tribal, and territorial governments, and engaged with hundreds of stakeholders to exchange lessons and expand transparency, accountability, and public participation. The United States also launched the first-ever Request for Information to feed into the 6th U.S. OGP National Action Plan and announced development of a toolkit to help federal agencies more meaningfully engage with the public.

    Modernizing and coordinating U.S. government efforts to fight corruption

    • Institutionalizing anti-corruption as an enduring priority: Over the past four years, Departments and Agencies have made substantial organizational improvements to elevate corruption concerns. For example:
      • The State Department’s new Office of the Coordinator on Global Anti-Corruption leads the integration of anti-corruption priorities into bilateral and other policy processes, conducts targeted diplomatic engagements, and drives strategic planning, including through the Department’s senior-level Anti-Corruption Policy Board. In the past year, the Office jumpstarted implementation of the Combating Global Corruption Act and completed an analysis of anti-corruption assistance to inform future State Department decision-making.
      • USAID’s new Anti-Corruption Center, within the newly established Bureau for Democracy, Human Rights, and Governance, serves as a hub of technical expertise and thought leadership – driving the integration of corruption considerations across USAID’s portfolio, supporting USAID Missions in developing localized approaches, managing a suite of programming focused on transnational corruption, and using its convening power and policy insights to forge strategic partnerships. Since 2022, USAID has released its first-ever Anti-Corruption Policy, which outlines a cross-sectoral approach to constraining opportunities for corruption, raising the costs of corruption, and incentivizing integrity – plus a host of tools to drive uptake across USAID.
      • FBI’s International Corruption Unit expanded an agreement with the State Department to deploy six regional anti-corruption advisors to strategic locations around the world, where they organize regional working groups with local law enforcement officials, provide case-base mentorship, and facilitate coordination with the International Anti-Corruption Coordination Centre.

    Expanded interagency capacity has been complemented by the National Security Council’s establishment of a dedicated Director for Anti-Corruption position, for the first time, to ensure whole-of-government coordination and advance anti-corruption within key policy processes.

    • Leading in multilateral fora: The United States has regained its leadership role in the international bodies that shape anti-corruption norms globally and can sustain momentum across time. In particular, the United States stepped into the presidency of the UN Convention against Corruption Conference of States Parties (UNCAC COSP), proudly hosting in December 2023 thousands of stakeholders in Atlanta, Georgia, led by the U.S. Representative to the United Nations Linda Thomas-Greenfield. As part of its commitment to championing the role of non-governmental actors in the fight against corruption, the United States facilitated record civil society participation in UNCAC working group meetings, hosted the first UNCAC Private Sector Forum, and supported inclusive implementation of UNCAC commitments in Latin America, East Africa, and Southeast Asia. The United States also participated in several peer reviews of our own anti-corruption practices over the last three years, and proudly made these results public. Alongside these multilateral fora, we convened the Global Forum on Asset Recovery action series to accelerate practitioner cooperation across the United States, Algeria, Honduras, Iraq, Moldova, Nigeria, Seychelles, Ukraine, the United Kingdom, and Zambia.
    • Understanding corruption dynamics: The Intelligence Community developed and disseminated new resources to bolster intelligence prioritization, collection and analysis on corrupt actors and their networks. USAID commissioned research on topics like countering corruption through social and behavioral change and State initiated an interagency anti-corruption learning agenda and a small grants program to support it.
    • Deepening external partnerships: The United States convened a series of coordination meetings with other bilateral donors and philanthropies in order to harmonize our anti-corruption approaches and galvanized anti-corruption resources across the donor community through the Integrity for Development campaign. USAID’s Countering Transnational Corruption Grand Challenge for Development brought together technologists, businesses, activists, and others to collaboratively address concrete corruption challenges.

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    MIL OSI USA News

  • MIL-OSI China: High-tech goods prove popular at Canton Fair

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

    A wide range of high-tech and high value-added products displayed at the first phase of the 136th China Import and Export Fair, also known as the Canton Fair, proved increasingly popular among overseas buyers, the event’s organizers said on Monday.

    The event’s first phase, which focused on China’s advanced manufacturing, concluded on Saturday in Guangzhou, the capital of Guangdong province, with digitalized, intelligent and green products emerging as major highlights of the exhibits.

    Among the 11,165 participating companies in the first phase, approximately 3,600 are related to digital technology and intelligent manufacturing, according to the organizers. Of these, 57.8 percent are enhancing their industrial chains through technology transformations involving big data, artificial intelligence and the industrial internet.

    Chinese exhibitors have showcased a plethora of new products, technologies, materials and processes, with 390,000 digital products on display, marking a 300 percent increase compared with the last session.

    High-end products including smart home appliances, new energy vehicles, industrial automation equipment, humanoid robots, intelligent bionic hands and hydrogen-powered bikes are increasingly popular, the organizers said.

    They also said the trend indicates that Chinese manufacturing is accelerating its pace toward the high end of the industrial and value chains, while the independent innovation capabilities of Chinese enterprises and the core competitiveness of Chinese products are continuing to strengthen.

    Xu Jiadong, sales manager of Skymen Technology Corp, said, “We have seen an increased number of buyers, especially those from emerging markets such as the Middle East and Southeast Asia, visiting our exhibition booth during the fair, showing interest in buying advanced ultrasonic cleaning products.”

    The Shenzhen, Guangdong province-based company’s overseas sales of ultrasonic cleaning products steadily increased in the first nine months of this year, reaching more than 60 million yuan ($8.4 million), Xu said.

    To meet the increased demand for advanced and intelligent ultrasonic cleaning products in overseas markets, the company launched operation of its manufacturing base in Shaoguan, Guangdong, in late 2023.

    More than 130,000 overseas buyers, an increase of 4.6 percent compared with the previous session, visited the fair’s first phase. Of these, 69.7 percent were from countries and regions involved in the Belt and Road Initiative, and around 20,000 buyers were from the Middle East, an increase of 44.2 percent compared with the previous session, according to the organizers.

    In addition, advanced products with high added value, such as industrial machines manufactured in China, have become increasingly popular in the overseas market, according to Yusuf Kandemir, CEO of Alshamela Group Trading Co.

    “The fair provides me with very valuable information, as we are looking for high-end industrial machinery suppliers from China,” said Kandemir, adding that such products are very much in demand, especially in the Middle East.

    The second phase of the fair will be held from Wednesday to Sunday, with 10,040 Chinese exhibitors showcasing household items, gifts and decorations, building materials and furniture.

    Spanning three phases, with both online and on-site exhibitions, the fair, which will run until Nov 4, aims to serve high-quality development and promote greater opening-up.

    MIL OSI China News

  • MIL-OSI China: FTZ reforms deepen China-ASEAN economic, trade ties

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

    NANNING, Oct. 22 — In a bustling fruit processing facility in south China’s Guangxi Zhuang Autonomous Region, the air is sweet with the luscious aroma of mangoes. Workers diligently manage a state-of-the-art, fully automated production line, preparing to send delectable products to eager markets across Southeast Asia.

    In recent years, with the deepening of economic cooperation and the trade exchange of agricultural products between China and the Association of Southeast Asian Nations (ASEAN), the complementary advantages of agricultural products trade between Guangxi and ASEAN have become more prominent. The geographical advantages of land and sea links with ASEAN have also injected vitality into the continuous expansion of Guangxi’s fruit exports.

    According to data from Nanning Customs, in 2023, Guangxi imported 16.71 billion yuan (about 2.4 billion U.S. dollars) of ASEAN agricultural products, a year-on-year increase of 43.1 percent. At the same time, Guangxi’s special fruits, such as orah mandarins and sweet tangerines, have also been well received in the ASEAN market.

    The thriving fruit trade has also spurred related companies to invest and establish their operations in Guangxi.

    Guangxi Junyi Agricultural Science and Technology Co., Ltd, a mango-processing company established in 2020 in the Chongzuo area in the China (Guangxi) Pilot Free Trade Zone (FTZ), is the region’s first border-based fruit processing enterprise with an annual main business turnover of at least 20 million yuan.

    “The pilot FTZ’s policies, including tax incentives, streamlined trade procedures and financial innovations, have not only laid fertile ground for growth but also provided substantial cost benefits to businesses,” said Shen Wuyang, the company’s deputy general manager.

    Guangxi, often described as China’s gateway to ASEAN, has risen to the forefront of China’s trade and cooperation with ASEAN in recent years, thanks to the establishment of the pilot FTZ.

    In 2019, the pilot FTZ was established to promote China’s opening up to ASEAN and to pilot new mechanisms in China-ASEAN cooperation. Since its inception, the pilot FTZ has proven to be a powerhouse, taking up a 37.7 percent share of Guangxi’s total foreign investment and a notable 38.6 percent share of the region’s foreign trade volume.

    The pilot FTZ comprises the Nanning area in the region’s capital city, the Qinzhou Port area along the coast and the Chongzuo area bordering Vietnam.

    The Chongzuo area is home to Youyiguan Port, or Friendship Pass, one of China’s busiest land ports for the trade of fruit.

    Thanks to the development of economic and trade relations between China and ASEAN, Youyiguan Port’s cargo clearance efficiency has doubled.

    “Our cargo predominantly goes to Southeast Asia, with Vietnam taking up 80 percent of our shipments and the remainder being distributed to places like Malaysia and Thailand,” noted Wang Shuqing, operations supervisor of a supply chain management company in Guangxi.

    The zone’s Nanning area focuses on the development of modern finance, the digital economy and modern services. It is pioneering innovation in cross-border finance and renminbi businesses, especially those working with ASEAN nations.

    “Previously, cross-border transactions between Guangxi and Indonesian companies involved an intermediate step of converting RMB to U.S. dollars before changing it to Indonesian rupiah. Now, we can achieve direct settlements,” said Bai Lili, deputy general manager of a China CITIC Bank branch located in the Nanning area of the pilot FTZ.

    As the pilot FTZ’s only coastal area, Qinzhou Port Area is establishing itself as a high-level gateway port that facilitates the transportation of cargo between China and ASEAN.

    According to Ye Jun, an official with the administrative committee of Qinzhou Port Area, the industrial focus of the area is on petrochemical projects, with quite a number of petrochemical enterprises having already set foot in raw material and preliminary processing in ASEAN countries.

    So far, more than 38,000 new enterprises have been established in Qinzhou Port Area, including 355 foreign-funded companies. Among the over 150 industrial projects operational or under construction, the area has attracted investments exceeding 300 billion yuan and is home to four enterprises with annual outputs of over 10 billion yuan.

    MIL OSI China News

  • MIL-OSI USA: October 21st, 2024 Heinrich Highlights $2.5 Million for Mobile Training Unit to Connect Rural New Mexicans to In-Demand Careers in the Skilled Trades, Participates in Training Demo with U.A. Local 412

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich
    PHOTOS & VIDEO
    ALBUQUERQUE, N.M. — U.S. Senator Martin Heinrich (D-N.M.), Chairman of the U.S. Joint Economic Committee and a member of the Senate Appropriations Committee, highlighted more than $2.5 million he has secured through the Appropriations process for the United Association of Plumbers & Pipefitters Local 412 (U.A. Local 412) to operate a mobile training unit that provides pre-apprenticeship training to New Mexicans living in rural and Tribal communities. 
    The mobile training unit is creating more pathways to in-demand careers in the skilled trades and has already trained dozens of New Mexicans in Española, Taos, Las Vegas, Mora, Raton, and Santa Fe. Heinrich also participated in a training demonstration with U.A. Local 412 leadership and apprentices who are learning skills in the plumbing, pipefitting, and HVAC trades.

    U.S. Senator Martin Heinrich (D-N.M.) participates in a training demonstration with the United Association of Plumbers & Pipefitters Local 412 (U.A. Local 412), October 21, 2024.
    “Thanks to our Inflation Reduction Act and CHIPS and Science Act, New Mexico is experiencing a manufacturing and clean energy renaissance that is creating new high-quality careers New Mexicans can build their families around,” said Heinrich. “I’m focused on expanding pathways to skills training and apprenticeships that connect New Mexicans to careers in their own communities. This is how we can address workforce shortages, grow the middle class, and strengthen our economy.”
    Heinrich-Secured Federal Investments for the Mobile Training Unit:
    The U.A. Local 412 Mobile Training Unit was initially paid for by an Economic Development Administration (EDA) Good Jobs Challenge Grant, as part of a $6.4 million award to the Northern N.M. Workforce Integration Network. The Good Jobs Challenge funds were authorized by the American Rescue Plan, the critical economic recovery legislation that Heinrich was proud to pass in 2021. 
    Through his work on the Senate Appropriations Committee, Heinrich has further supported the U.A. Local 412’s workforce development efforts by securing more than $2.5 million in Congressionally Directed Spending (CDS) in the Fiscal Year 2023 and Fiscal Year 2024 Appropriations Bills. These awards helped the union secure the equipment and staffing they need to train New Mexicans for jobs in the skilled trades, including specialized training needed to fill the many new, well-paying jobs being created by the CHIPS and Science Act and the Inflation Reduction Act. 
    Heinrich is currently fighting to pass the Fiscal Year 2025 Appropriations Bills, which include an additional $870,000 CDS award that he secured within the Senate Appropriations Committee-passed Labor, Health and Human Services, Education Appropriations Bill to sustain the U.A. Local 412’s mobile training unit’s operations past the original EDA funding, and to expand its reach to new communities including Grants, Gallup, Silver City, and Zuni Pueblo. 
    Heinrich’s Longtime Support for Workforce Training and Apprenticeships:
    Heinrich has long championed proven workforce training programs like U.A. Local 412’s apprenticeship and pre-apprenticeship programs that are growing the middle class, creating and connecting New Mexicans to high-quality careers they can access in their communities, and continuing New Mexico’s leading role in the clean energy transition that is being built by union workers in the skilled trades. 
    Last week, Heinrich hosted a “Pro-Worker, Pro-Business Opportunities” roundtable to talk directly with New Mexicans about how federal legislation he helped pass into law, like the Inflation Reduction Act and Infrastructure Law, is creating careers in high-demand sectors and strengthening New Mexico’s health care, early childhood education, and skilled trades workforce.  
    Last year, Heinrich introduced the bipartisan Apprenticeship Pathways Act, legislation to create pathways to careers for high school students by expanding access to apprenticeship programs for occupations with high need, including the building trades, healthcare, manufacturing, technology, telecommunications, and early childhood education. Earlier this year, Heinrich introduced the Pre-Apprenticeships To Hardhats (PATH) Act, legislation to strengthen the pipeline for careers in New Mexico, address rising workforce shortages, and grow the state’s economy through quality pre-apprenticeship programs. 
    Last year, Courtenay Eichhorst, Business Manager of U.A. Local 412 and President of New Mexico Building Trades, testified about the importance of apprenticeships and pre-apprenticeships during a hearing that Heinrich convened as the Chairman of the Joint Economic Committee on “Job Training for the Clean Energy Transition.” 
    Eichhorst said during that JEC hearing, “In addition to our ‘gold standard’ apprenticeship programs, the UA and other Building Trades’ unions are also increasingly investing in pre-apprenticeship programs that can be designed to help prepare high school students or individuals from underrepresented communities for a career in the trades. These programs help fill the role that used to be filled by the ‘shop classes’ that were found in high schools but have become increasingly rare. Pre-apprenticeship programs also focus on the ‘soft skills’ that are necessary for success in any industry, such as showing up on time and other work etiquette.”
    Earlier this year, also in the Fiscal Year 2024 Appropriations Bills, Heinrich secured $1,200,000 in Congressionally Directed Spending for the SMART Local Union No. 49 Joint Apprenticeship and Training Committee to enhance and expand specialized HVAC apprenticeship training. 
    In March, Heinrich introduced the Providing Resources and Opportunities for Health Education and Learning (PRO-HEAL) Act, legislation that will tackle the health care provider shortage in New Mexico and nationwide by expanding pathways to high-quality, in-demand health care careers that medical professionals can access in their communities. Specifically, the PRO-HEAL Act addresses medical provider shortages by incentivizing states and institutions of higher education to expand or create health care provider pipeline programs, particularly in underserved and rural communities. The legislation is inspired by the success of the Combined BA/MD Degree Program at the University of New Mexico, where over 65% of students who have graduated from their program practice medicine in New Mexico.    
    Last year, Heinrich introduced the Pathways to Health Careers Act, legislation that reauthorizes and modernizes the Health Profession Opportunity Grant (HPOG) program to help address health care shortages in New Mexico and across the country and create pathways to high-quality, in-demand health care careers. The HPOG program has a proven track record of successfully educating workers for jobs in the health care industry, while also providing career coaching, job placement, and a mix of other support services. The Pathways to Health Careers Act would restart and expand the HPOG Program, providing $425 million to make HPOG available nationwide from FY2024 through FY2028 and includes set asides for Tribes and U.S. Territories.  
    In 2021, Heinrich introduced the Championing Apprenticeships for New Careers and Employees in Technology (CHANCE in Tech) Act, legislation to create earlier pathways to high-paying careers in the information technology (IT) industry. Heinrich previously introduced similar bipartisan legislation in 2019 with former Senator Cory Gardner (R-Colo.).

    MIL OSI USA News

  • MIL-OSI: BW Energy: Q3 2024 trading update 

    Source: GlobeNewswire (MIL-OSI)

    BW Energy: Q3 2024 trading update

    BW Energy will publish financial figures for Q3 2024 on Friday, 15 November 2024. 

    Net production to BW Energy was 2.4 million barrels of oil (bbls) in Q3 2024, equal to 25,570 bbls per day, from the Dussafu licence in Gabon (73.5% working interest) and the Golfinho field (100% working interest) in Brazil.    

    Volume (mmbbls)  Q3 2024  Q2 2024 
    Net production    2.4  2.1 
    Dussafu    1.9  1.4 
    Golfinho    0.5  0.7 
         
    Net volume sold    2.5  1.9 
    Dussafu*    2.0  0.9 
    Golfinho    0.5  1.0 
           
    Average realised price (USD/bbl)     
    Dussafu    82.0  76.3 
    Golfinho    81.7  86.4 
           
    *Includes State Profit Oil and DMO deliveries     

    DUSSAFU 

    • Highest quarterly production since inception 
    • Operating cost (excluding royalties) of USD 20.5/bbl 
    • The net volume sold (basis for revenue recognition), included 195,000 bbls of DMO deliveries and 232,000 bbls of state profit oil, with an under-lift position of 391,500 bbls at period-end 
    • The DHBSM-2H well on Hibiscus South was completed in July with the first conventional ESP (Electrical Submersible Pump) system 
    • The DHIBM-3H well was worked over in early August with a conventional ESP 
    • The DHIBM-7H well, on the northern flank of Hibiscus Main, started production utilizing a conventional ESP in early October and is performing to expectation 
    • The DHBSM-1H ESP failed on 20 September, as the last of the defective generation, with change-out to a conventional ESP completed and production restarted mid-October  
    • The ESP replacement program on track for completion by year-end and to reach gross production target of 40,000 bbls/day  

    GOLFINHO 

    • Inventory at period end of 340,700 bbls  
    • Production cost (excluding royalties) of USD 63.3/bbl primarily due to lower production 
    • Production impacted by a planned maintenance shutdown on the FPSO Cidade de Vitória. Production availability set to improve in Q4 following maintenance completion on one gas lift compressor, with full compressor capacity expected to be back in service in Q1 2025 

    HEDGING, LIQUIDITY AND DEBT 

    • Q3 expected gain from hedging of USD 8.6 million, all of which is unrealised.  
    • Period-end cash balance of USD 209 million vs. USD 244 million end-June 2024, with the change reflecting cash flow from operations, debt repayment and investments including acquisition of shares in ReconAfrica. 
    • Period-end gross debt of USD 556 includes MaBoMo lease, Dussafu RBL, Golfinho prepayment facility and bond debt. 

    For further information, please contact:

    Brice Morlot, CFO BW Energy, +33.7.81.11.41.16 

    ir@bwenergy.no 

    About BW Energy: 

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalent at the start of 2024. 

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

    The MIL Network

  • MIL-OSI: Wendel announces a transformational transaction in line with its strategic roadmap

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE – OCTOBER 22, 2024

    Wendel announces a transformational transaction
    in line with its strategic roadmap

    • Acquisition of Monroe Capital LLC dramatically expands Wendel’s Asset Management platform and rebalances its business model towards more recurring cash flows and growth
    • Wendel’s Asset Management platform will represent c.€31 billion1 of AuM in private assets and is expected to generate c.€160 million2 of Fee Related Earnings and c.€185 million of total pre-tax profit in 2025

    Wendel (MF-FP) today announced that it has entered into a definitive partnership agreement including the acquisition of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, and will invest in GP commitment for up to $200 million.

    For Wendel, the acquisition of a controlling stake in Monroe Capital, a private credit market leader focused on the U.S. lower middle market that has established an outstanding track record, would represent a significant and transformational advancement of the strategy it announced in March 2023 to develop its third-party asset management platform to complement its longstanding principal investments business.

    This transaction follows Wendel’s recent acquisition of IK Partners, a European leader in middle market private equity, as it seeks to build a scaled third-party asset management platform, based on strong performing General Partners with distinctive and focused expertise, an entrepreneurial mindset and an emphasis on the middle market. The embedded organic growth of those acquisitions will be complemented by Wendel’s unique value proposition which includes:

    • Capital to sponsor new strategies and fund organic and inorganic initiatives ($800 million in the sponsoring program and up to $200m of GP commitment for Monroe Capital)
    • Wendel’s network to develop long term strategic partnerships with highly regarded LPs (Wendel and Monroe Capital intend for AXA-IM Prime to participate in the transaction)
    • Cross selling opportunities by combining the expertise and client bases of GPs
    • Development of centralized fundraising platform to address new markets

    The transaction is subject to the satisfaction of closing conditions and receipt of regulatory approvals. It is expected to be completed in the first half of 2025.

    A private credit leader in the U.S. middle market with a demonstrated strong track record across market cycles

    Founded in 2004 by Ted Koenig, Monroe Capital provides private credit solutions to borrowers in the U.S. and Canada, managing $19.53 billion of assets across 45+ investment vehicles. Monroe Capital’s strategic verticals are Lower Middle Market Direct Lending, Alternative Credit, Software & Technology, Real Estate, Venture Debt, Independent Sponsor and Middle Market CLOs. Each vertical has demonstrated strong investment performance and offers potential for significant organic growth.

    Through July 1, 2024, Monroe Capital has directly originated over 700 transactions, has invested over $44 billion and has earned c.10% gross unlevered IRR4 for its directly originated transactions. Monroe Capital’s LP base is very broad and diversified, including public pensions, insurance companies, family offices and high net worth individuals from across the globe.

    The firm, which is headquartered in Chicago, maintains eleven offices, of which nine are in the U.S., one in Abu Dhabi, UAE and one in Seoul, South Korea. Monroe Capital has grown to a team of over 270 employees, including 110 investment professionals.

    A transaction aligning strategic interests of all stakeholders over the long-term

    The envisaged transaction is a strategic partnership in which Monroe Capital’s teams — who remain committed for the long term — will continue to operate independently and autonomously in day-to-day management of current markets and strategies, under the same brand. Monroe Capital’s Investment Committee also would remain fully independent.

    A key feature of the planned partnership will be the commitment of significant capital by Wendel to support Monroe Capital’s present and future funds, as well as the development of new strategies. The contemplated transaction would lead to the full acquisition by Wendel of Monroe Capital over time, with subsequent transactions structured to ensure alignment of interests of all stakeholders:

    (i)      Initial transaction

    As part of the initial transaction, which is expected to be finalized in the first half of 2025, Wendel shall invest $1.13 billion, to acquire 75% of Monroe Capital’s shares (50% from Monroe management and 25% from Bonaccord Capital Partners who is a minority interest owner of Monroe) together with rights to c.20% of the carried interest generated on past and future funds. Monroe management will continue to own 25% of the Company post-closing.

    (ii)      Long-term alignment and subsequent transactions

    This transaction aims to maintain a long term and uncapped alignment of interests between Wendel and Monroe Capital’s 23 partners and employees:

    The initial transaction involving 75% of Monroe Capital would be complemented by an earn-out mechanism in the maximum amount of $255 million, subject to Fee Related Earnings (“FRE”) performance thresholds (Max if CAGR above c.26%) in the period, and if achieved would be paid in cash in 2028.

    The total consideration for the 75% would correspond to c. 14.7x to 18.5x 2025e pre-tax FRE depending on the earn out effectively paid and a 4.2x 2025e pre-tax Performance Related Earnings.

    Wendel will have a path to purchase the remaining 25% of Monroe Capital’s shares in subsequent transactions (put / call mechanisms) that would take place in three instalments over 2028 and 2032 and be payable in cash. The purchase of the remaining 25% shares would be valued through variable purchase multiples determined depending on realized FRE growth.

    (iii)      Capital commitment

    In addition, to accelerate Monroe Capital’s growth, Wendel would seed future new initiatives launched by the Company, with sponsor money, up to a maximum of $800 million in total, thereby supporting Monroe’s growth and diversifying Wendel’s investments in asset classes. In addition, Wendel will fund GP commitment of c.1% of funds to be raised, up to a maximum of $200 million. In total, Wendel will invest $1 billion into Monroe Capital’s funds.

    (iv)      AXA IM Prime’s investment alongside Wendel

    In addition, Wendel and Monroe Capital intend for AXA IM Prime to participate in the transaction. Wendel and AXA IM Prime have longstanding relationship and have jointly worked since inception on the current transaction. Both companies are now in discussion to confirm AXA IM Prime investment (up to $50m) as a minority shareholder, through its GP-stake fund “AXA IM Prime Capital Partners I” (“PCP I”), alongside Wendel in Monroe Capital. AXA Group (CS-FP) is the anchor investor of PCP I and already a significant and historic Limited Partner in Monroe Capital’s funds.

    Wendel to become an Asset Manager alongside its historical Principal Investment activity

    Wendel’s ambition is to build a sizeable Asset Management platform managing investments in multiple private asset classes, alongside its historical Principal Investment activity. The development of the third-party Asset Management platform will provide Wendel with recurring and growing cashflows as well as exposure to multiple and high performing asset classes. As a result, Wendel’s dual business model is expected to generate an attractive and recurring return to shareholders.

    With IK Partners and Monroe Capital, Wendel’s third party private asset management platform will reach c.€31 billion in AUM5, c.€ 455 million revenues, c.€160 million pre-tax FRE (c.€101 million in pre-tax FRE (Wendel share) by 2025 and is expected to reach €150 million (Wendel share) in pre-tax FRE by 2027 through double-digit organic growth.

    This evolution of Wendel’s business model is designed to enable the development, over time, of a value-creating platform with the potential to generate operational synergies.

    The third-party Asset Management platform will be developed alongside Wendel’s Principal Investment strategy, with the objective of generating double-digit Total Shareholder Return.

    Laurent Mignon, Wendel Group CEO, commented:

    “One year after announcing the acquisition of 51% of IK Partners, we are proud to announce the acquisition of 75% of Monroe Capital LLC, creating a strong partnership with a private credit leader in the U.S. lower midmarket. This acquisition marks an important step forward for Wendel’s asset management platform, which we are committed to scaling. Wendel is becoming an asset manager alongside our decades-long activity as a long-term equity investor. Monroe Capital, founded by Ted Koenig in 2004, is a terrific company that has consistently delivered strong performance across various market cycles in North America, bolstered by a surge in demand for private credit solutions and with the scale to capitalize on the growing opportunity set we see in private credit. Monroe Capital is strategically positioned to capitalize on this increasing demand, attracting both institutional and retail investors.

    Through this partnership with Monroe Capital, we are thrilled to collaborate with Ted Koenig, Chairman and CEO, Zia Uddin, President, and their talented teams to support their success and their ability to deliver robust financial performance over the coming years. It will be also a great privilege for Wendel to partner with such a renowned investor as AXA IM Prime.

    Wendel is executing its strategic plan with determination, rigor and financial discipline, as demonstrated by this transformational acquisition, while also focusing on premium assets in our principal investment activities, highlighted by the recent acquisition of Globeducate. Our transformation to a dual-strategy model is now well-grounded, with top partners in asset management such as IK Partners in private equity and now Monroe Capital in private credit. Our priority for the near future will be to build our platform and to work on the rotation of our Principal Investment assets.

    I would like to express my gratitude to the Wendel teams for their unwavering dedication and to the Supervisory Board of Wendel for its constant support in driving this ambitious strategy forward.”

    Theodore L. Koenig, Chairman & CEO of Monroe Capital commented:

    “We are excited to partner with Wendel and AXA IM on this next chapter of Monroe’s growth. Their commitment to our business will provide meaningful and stable capital to thoughtfully scale our platform and better capture the attractive and expanding opportunity in middle market private credit. Specifically, Wendel’s $1 billion commitment will accelerate our client-centric growth strategy and deliver meaningful benefits to our global investor base.”

    UBS acted as exclusive financial advisor to Wendel and Kirkland & Ellis LLP acted as legal counsel to Wendel. Wendel was also assisted by Fenchurch Advisory for this transaction. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Monroe Capital, and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel to Monroe Capital.

    About Monroe Capital

    Monroe Capital LLC (“Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains 11 offices throughout the United States and Asia.

    About Wendel

    Wendel is one of Europe’s leading listed investment firms. The Group historically has made long-term equity investments in European and North American companies that are leaders in their field, including its current investments ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. With Wendel Growth, Wendel also invests via funds or directly in innovative, high-growth companies. In 2023, Wendel announced its intention to build out a third-party private asset management platform to complement its principal investment activities. In the first step in advancing this dual-strategy model, Wendel in May 2024 finalized the acquisition of a 51% stake in IK Partners.

    Agenda

    Thursday, October 24, 2024

    Q3 2024 Trading update – Publication of NAV as of September 30, 2024 (post-market release)

    Friday, December 6, 2024,

    2024 Investor Day.

    Wednesday, February 26, 2025

    Full-Year 2024 Results – Publication of NAV as of December 31, 2024, and Full-Year consolidated financial statements (post-market release)

    Thursday, April 24, 2025

    Q1 2025 Trading update – Publication of NAV as of March 31, 2025 (post-market release)

    Thursday, May 15, 2025

    Annual General Meeting

    Wednesday, July 30, 2025

    H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)


    1 As of September 2024

    2 c.€101m of FRE expected in 2025, Wendel share.

    3 committed and managed capital (as of July 1, 2024)

    4 Across fully exited companies

    5 As of September 2024

    Attachment

    The MIL Network

  • MIL-OSI New Zealand: Assessments – New Zealand, UK, and Australia lead global list of economies engaging in sustainable trade best practices

    Source: Hinrich-IMD Sustainable Trade Index 2024

    New Zealand has topped the Hinrich-IMD Sustainable Trade Index (STI) 2024 for the third consecutive year, with the United Kingdom (UK) following in second place and Australia securing third. 

    The Index measures how well trade contributes to mutually beneficial and balanced economic, social, and environmental outcomes among 30 trading economies. (ref. https://www.hinrichfoundation.com/research/wp/sustainable/sustainable-trade-index-2024 )

    New Zealand (first) retains its top spot for the third consecutive edition and leads the environmental dataset.

    The UK is second for the third edition in a row. However, it does perform worse than in 2023 in the economic dataset.

    Australia (third) has risen two positions since last year. Its greatest progress is in the environmental dataset.

    Crucially, building “workforce resilience” is becoming a major goal of governments and the private sector worldwide, the report signals. This means having a healthy, educated, and unexploited workforce, which allows economies to better withstand shocks and seize emerging opportunities. “National resilience” and “environmental resilience” are also key concerns.

    “Workforce resilience” is part of a broader trend to encourage “societal resilience,” the authors say. Societal resilience is the effect of investments that foster both economic and social stability. New Zealand, Canada, Australia, Taiwan, and Singapore do best here.

    The Index is a joint project between the Hinrich Foundation and the International Institute for Management Development (IMD) and is in its third year.

    It measures 30 economies, including members and applicants of major trade alliances, such as the Asia-Pacific Economic Cooperation (APEC), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).

    “The STI allows us to track how effectively trading economies are meeting the three pillars of sustainability: economic growth, societal advancement, and environmental stewardship. Achieving balanced outcomes between the three pillars is essential for resilience,” said Kathryn Dioth, CEO of the Hinrich Foundation.

    “By investing in human capital, countries can build adaptable workforces capable of thriving amid economic fluctuations and global challenges,” said Christos Cabolis, Chief Economist of the IMD World Competitiveness Center, which led the research for IMD.

    Other major findings include:

    ·         Global trade is increasingly shaped by protectionist regulations, where economies favor policies that strengthen domestic industries and secure supply chains. This shift toward industrial policy, aimed at building economic resilience, marks a long-term trend, resulting in the fragmentation of the global trading system.

    ·         Addressing climate resilience is complex because tackling climate change often requires regulatory interventions, whereas global trade flourishes with fewer barriers. The emergence of climate and trade agreements that promote trade in environmental goods and services could balance the dual objectives of open trade while addressing climate change. 

    ·         A few mid-ranking economies have shown consistent progress or stability over the last three years (2022-2024). Amongst them, Thailand gained three spots in the STI from 2022 to reach 12th place this year, Vietnam recorded a six-place rise, and Chile held a steady position at 11th across the three years.

    The Index measures 72 data points, categorized into three “pillars”: economic, societal, and environmental, considered by the researchers to be the main axes of sustainable trade. They represent economic growth, societal well-being, and environmental stewardship, respectively.

    A new indicator measuring universal health coverage (UHC) from the WHO’s Global Health Observatory (GHO) was introduced to the societal pillar in this edition.

    About the Hinrich Foundation

    The Hinrich Foundation is an Asia-based philanthropic organization that works to advance mutually beneficial and sustainable global trade. We believe sustainable global trade strengthens relationships between nations and improves people’s lives. We support original research and education programs that build understanding and leadership in global trade. Our approach is independent, fact-based, and objective. We are an authoritative source of knowledge, sharp analysis, and fresh thinking for policymakers, business, media, and scholars engaged in global trade.

    hinrichfoundation.com

    MIL OSI New Zealand News

  • MIL-OSI: EBC Financial Group Expands Partnership with DiNapoli’s Leading Indicators, Revealing Key Strategies for Navigating Black Swan Events

    Source: GlobeNewswire (MIL-OSI)

    TAIPEI, Taiwan, Oct. 22, 2024 (GLOBE NEWSWIRE) — EBC Financial Group (EBC), in partnership with DiNapoli Experts, is proud to host ‘Harnessing the Power of DiNapoli Indicators to Conquer Black Swan Events,’ an exclusive gathering that brought together financial experts, traders, investors, and economic strategists to explore key strategies for navigating volatile markets. This event, part of EBC’s broader commitment to thought leadership in finance, offered critical insights not only for traders but for those seeking a deeper understanding of global financial trends, including the impacts of geopolitical tensions, inflation, and the evolving role of technology in market prediction.

    Operating across global financial hubs such as London, Hong Kong, Tokyo, Singapore, and Sydney, EBC Financial Group is regulated by major international bodies, including the UK’s FCA, CIMA in the Cayman Islands, and ASIC in Australia. These credentials underscore the Group’s mission to deliver sound, ethical, and transparent financial services across key markets.

    With markets facing challenges from geopolitical instability, rising inflation, and shifting monetary policies, EBC’s commitment to investor empowerment and education stands firm. The discussions provided participants with exclusive insights into managing risk and seizing opportunities in global markets, and attendees engaged with some of the industry’s top experts, gaining hands-on insights into critical factors influencing today’s global markets.

    Building on the momentum from the successful signing ceremony in Thailand, where EBC Financial Group solidified its partnership with DiNapoli’s Leading Indicators, the Taiwan event marks a key milestone in EBC’s ongoing mission. Through this collaboration, EBC is empowering traders with advanced tools to navigate Black Swan events.

    Global Instabilities Threaten Market Stability: Insights from David Barrett
    David Barrett, CEO of EBC Financial Group (UK) Ltd, issued a stark warning about the growing economic fragility facing global markets. Speaking to an audience of financial professionals, Barrett highlighted that the Federal Reserve’s recent rate cuts have unsettled bond markets, exposing deep vulnerabilities in the global financial system. While the U.S. equity market has enjoyed a brief rally, Germany’s economic downturn threatens to spiral into a wider Eurozone crisis, Barrett explained.

    Barrett emphasised that the risks extend far beyond economics. Geopolitical conflicts—from the ongoing war in Ukraine to instability in the Middle East—are now global flashpoints, disrupting energy supplies and pushing commodity markets toward dangerous levels of volatility. According to Barrett, this combination of factors could drag the global economy into deeper, more unpredictable volatility, leaving even experienced investors facing unprecedented uncertainty.

    As part of the Group’s mission to help investors navigate these turbulent markets, Barrett reiterated EBC’s focus on providing cutting-edge trading tools and educational initiatives. EBC’s partnership with DiNapoli Indicators is instrumental in equipping traders with the tools necessary to interpret market movements, especially in unpredictable environments. By combining advanced predictive tools like DiNapoli Indicators with real-time market analysis, EBC is ensuring that traders are not only informed but prepared to respond to global financial shifts.

    EBC’s expansion into emerging markets and its commitment to establishing regulated entities in new jurisdictions also reflect the Group’s dedication to offering clients access to global trading opportunities. With its rapidly growing footprint, EBC continues to lead with integrity and transparency, providing traders worldwide with the tools to manage risk effectively.

    As the U.S. presidential election approaches, Barrett warned that this divisive political battle could be another major destabilising factor for markets, as investors brace for shifting economic policies and potential political upheaval.

    “We are not just seeing market volatility; we are looking at a perfect storm where geopolitical tensions, inflation, and monetary policies are converging like never before,” Barrett cautioned. He urged investors and traders to take urgent action, adapting to this new reality with precision, foresight, and advanced tools like DiNapoli Indicators to help navigate through the uncertainty. Without this, Barrett stated, market participants risk being left behind in a financial environment that demands data-driven decision-making and the ability to manage complex risks.

    Capturing Trading Opportunities: Jason Zeng on DiNapoli Indicators
    At the event, Jason Zeng, General Manager of Fibonacci Investment Consulting, LLC, presented the critical role that DiNapoli Indicators play in helping investors identify key market retracement points and timing trades effectively. Zeng, a long-standing expert in DiNapoli-Levels trading, explained how these indicators are not just tools for predicting price movements, but vital systems for managing risk and profitability in highly volatile markets.

    Zeng focused on how the Fibonacci-based DiNapoli Levels have been successfully applied to forecast market retracements in a range of asset classes, including equities, commodities, and currencies. He cited recent examples where DiNapoli Indicators enabled traders to accurately pinpoint entry and exit points, even in the face of significant market fluctuations caused by geopolitical instability and central bank policy shifts.

    “Traders who rely on these indicators can enhance their risk management and improve trade execution,” Zeng said. He highlighted the use of real-world case studies, showing how DiNapoli’s approach has repeatedly outperformed traditional technical analysis by offering actionable insights during times of heightened uncertainty.

    Zeng stressed that in today’s fast-moving financial markets, timing is everything, and DiNapoli Indicators offer the precision necessary to navigate the complexities of modern trading environments. According to Zeng, these indicators are essential for traders and financial professionals aiming to capture opportunities while minimising exposure to unpredictable market swings.

    As EBC continues to expand its operations across emerging markets, it remains committed to providing global traders with tailored tools and educational resources, ensuring that they are equipped to navigate both local and international market dynamics.

    Capital Markets Under Pressure: Dr. Hua-Shen Pan on Geopolitical Risks and Economic Countermeasures
    Dr. Hua-Shen Pan, an esteemed economic analyst and columnist, delivered a pointed examination of the global geopolitical risks that are currently shaping capital flows and investment strategies. Addressing the audience, Dr. Pan highlighted how geopolitical volatility has become a primary driver of market instability, overshadowing traditional economic indicators.

    Dr. Pan drew attention to China’s economic trajectory, which he identified as a critical factor influencing the global financial system. As the Chinese government introduces new stimulus measures, the global financial community is watching closely to gauge the effectiveness of these policies in stabilising the world’s second-largest economy.

    He further explained how geopolitical flashpoints, including the ongoing conflict in Ukraine and instability in the Middle East, are exacerbating energy price shocks and complicating efforts by central banks to control inflation. Dr. Pan highlighted the growing disconnect between economic fundamentals and market reactions, pointing out that traditional models of economic forecasting are struggling to account for the disruptive influence of geopolitical events.

    Dr. Pan argued that while geopolitical tensions will continue to be a source of market volatility, investors must adapt by focusing on risk management and long-term strategies that account for unpredictable economic shifts. He highlighted the importance of understanding how global policy responses—from Federal Reserve actions to China’s economic policy—will shape the investment landscape in the years to come.

    “Markets are no longer simply reacting to economic data,” Dr. Pan observed. “We are now in an era where geopolitical conflicts are driving capital decisions, and this requires a new strategic approach.”

    Navigating Post-Fed Market Reactions: Joseph AuXano’s Key Insights
    Joseph AuXano, Director of the DiNapoli Online Course (DAP), addressed one of the most pressing concerns for market participants—the aftermath of Federal Reserve rate cuts and their impact on market dynamics. AuXano demonstrated how DiNapoli Indicators can be used to accurately assess market reactions following Fed decisions, offering traders a powerful tool to anticipate volatility and make informed decisions.

    Through a detailed analysis of recent FOMC meetings, AuXano illustrated how major stocks, including Tesla and Nvidia, responded to rate cuts. He demonstrated how the MACD Predictor and DiNapoli Expansion tools provide crucial early signals, enabling traders to identify high-probability trades by spotting key support and resistance levels in advance.

    AuXano emphasised the importance of using multi-timeframe analysis, highlighting that relying solely on short-term trends leaves traders vulnerable to unpredictable market swings. By incorporating the DiNapoli Indicators, investors are better equipped to navigate both short-term fluctuations and long-term trends.

    “After each Fed decision, markets are often thrown into chaos, with unpredictable movements. But by using these tools, traders can stay one step ahead, reading market signals more effectively,” AuXano explained.

    He added, “Today’s economic forum has provided valuable insights into the various factors impacting markets, reading the markets by observing how price interacts with DiNapoli Indicators gives traders and investors an additional edge when seeking to navigate market volatility. It’s about staying disciplined and structured, especially in today’s economic and political climate, where interest rate changes and central bank policies play a key role.”

    Mitigating Algorithmic Trading Risks: Insights from Rich Wang
    Rich Wang, CTO of Provider Space, delved into the growing reliance on algorithmic trading and the risks that come with automated systems in today’s financial markets. Wang’s presentation centred on the need for robust risk management strategies that ensure consistent profitability, even as markets become increasingly volatile.

    Wang highlighted the advantages and dangers of algorithmic trading, explaining that while automation can enhance trading efficiency and speed, it also exposes traders to greater risk if not properly managed. He shared real-world examples of how market volatility can trigger automated systems to make rapid, high-stakes trades that can spiral into significant losses without adequate safeguards in place.

    Wang stressed the importance of incorporating stop-loss mechanisms and conducting thorough backtesting of algorithms to prevent systems from failing during market disruptions. He underscored that risk management needs to evolve alongside trading technology, particularly as markets become more sensitive to geopolitical events and central bank policy shifts.

    “Automation can give traders an edge, but only when combined with solid risk management frameworks,” Wang said. He demonstrated how the latest risk mitigation strategies can be integrated into automated trading systems, allowing traders to maintain control and reduce their exposure to sudden market shocks.

    Wrapping Up the Event
    The event provided a wealth of strategic insights, equipping market participants with the tools and knowledge necessary to navigate today’s volatile financial landscape. From geopolitical risks to algorithmic trading and Fed rate-cut reactions, the symposium underscored the importance of using advanced technical indicators, like DiNapoli Levels, to manage risk and seize market opportunities.

    As the global economic outlook remains uncertain, EBC Financial Group continues to lead the conversation around financial resilience, offering investors and traders the necessary foresight to adapt to these evolving challenges.

    For more information, high-resolution images, or speaker materials, please contact:

    Media Contact:
    Angela Wu
    Global Public Relations (Taiwan)
    angela.wu@ebc.com

    Chyna Elvina
    Global Public Relations Manager (APAC, LATAM)
    chyna.elvina@ebc.com

    Douglas Chew
    Global Public Relations Lead
    douglas.chew@ebc.com

    About EBC Financial Group
    Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. EBC has quickly established its position as a global brokerage firm, with an extensive presence in key financial hubs such as London, Hong Kong, Tokyo, Singapore, Sydney, the Cayman Islands, and across emerging markets in Latin America, Southeast Asia, Africa, and India. EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.

    Recognised by multiple awards, EBC prides itself on adhering to the leading levels of ethical standards and international regulation. EBC Financial Group’s subsidiaries are regulated and licensed in their local jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA), EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA), EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC).

    At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

    EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

    https://www.ebc.com/

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/564383fa-f7de-4825-8a3d-d644cd768c51
    https://www.globenewswire.com/NewsRoom/AttachmentNg/fd1d9d72-b653-4979-ba30-f35bb4ed4402
    https://www.globenewswire.com/NewsRoom/AttachmentNg/f89d66ee-0f78-44df-8b49-fe8f8d96d3aa

    The MIL Network

  • MIL-OSI: Transaction in own shares

    Source: GlobeNewswire (MIL-OSI)

    OSB GROUP PLC                                        
    ISIN: GB00BLDRH360
    22 October 2024

    LEI number: 213800ZBKL9BHSL2K459

    OSB GROUP PLC (the “Company”)
    Transaction in Own Shares

    The Company announces that on 21 October 2024 it had purchased a total of 255,244 of its ordinary shares of £0.01 each (the “ordinary shares“) on the London Stock Exchange, through the Company’s broker Citigroup Global Markets Limited as detailed below. The repurchased ordinary shares will be cancelled.

      London Stock Exchange CBOE BXE CBOE CXE
    Number of ordinary shares purchased 156,244 70,000 29,000
    Highest price paid (per ordinary share) 392.00p 381.00p 381.00p
    Lowest price paid (per ordinary share) 378.20p 378.80p 378.80p
    Volume weighted average price paid (per ordinary share) 384.09p 380.29p 380.12p

    The purchases form part of the Company’s share buyback programme announced on 05 September 2024.

    Following settlement of the above purchases and cancellation of the purchased ordinary shares, the Company’s total number of ordinary shares in issue shall be 377,402,773 ordinary shares.

    No ordinary shares are held in treasury. Therefore, the total number of voting rights in the Company is 377,402,773.

    In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 as incorporated into and implemented under English law (including by virtue of the European Union (Withdrawal) Act 2018), the detailed breakdown of individual trades made by Citigroup Global Markets Limited on behalf of the Company as part of the share buyback programme is set out below.

    This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

    Schedule of Purchases – Individual Transactions

    Issuer Name OSB GROUP PLC
    LEI 213800ZBKL9BHSL2K459
    ISIN GB00BLDRH360
    Intermediary Name Citigroup Global Markets Limited
    Intermediary Code SBILGB2L
    Timezone GMT + 1
    Currency GBP
    Transaction Date Trade Time Currency Volume Price Trading Venue Transaction ID
    21/10/2024 16:28:54 GBp 613 379.80 XLON xHaNOzHefeC
    21/10/2024 16:28:50 GBp 576 380.00 XLON xHaNOzHefnu
    21/10/2024 16:28:49 GBp 122 380.00 XLON xHaNOzHefmg
    21/10/2024 16:28:49 GBp 492 380.00 XLON xHaNOzHefmp
    21/10/2024 16:28:49 GBp 417 380.00 XLON xHaNOzHefmr
    21/10/2024 16:28:49 GBp 176 380.00 XLON xHaNOzHefmw
    21/10/2024 16:28:49 GBp 260 380.00 XLON xHaNOzHefmy
    21/10/2024 16:28:46 GBp 1,040 380.00 XLON xHaNOzHefoo
    21/10/2024 16:28:46 GBp 507 380.00 XLON xHaNOzHefot
    21/10/2024 16:28:46 GBp 801 380.20 CHIX xHaNOzHefoH
    21/10/2024 16:28:46 GBp 43 380.20 CHIX xHaNOzHefoJ
    21/10/2024 16:28:46 GBp 45 380.20 CHIX xHaNOzHefoL
    21/10/2024 16:28:45 GBp 622 380.00 XLON xHaNOzHefza
    21/10/2024 16:28:45 GBp 47 380.00 XLON xHaNOzHefzc
    21/10/2024 16:28:45 GBp 435 380.00 XLON xHaNOzHefzm
    21/10/2024 16:28:45 GBp 790 380.00 XLON xHaNOzHefzo
    21/10/2024 16:28:45 GBp 300 380.20 CHIX xHaNOzHefzt
    21/10/2024 16:28:45 GBp 788 380.20 CHIX xHaNOzHefzv
    21/10/2024 16:28:45 GBp 47 380.20 CHIX xHaNOzHefzx
    21/10/2024 16:28:45 GBp 260 380.00 CHIX xHaNOzHefzz
    21/10/2024 16:28:45 GBp 41 380.20 CHIX xHaNOzHefz7
    21/10/2024 16:28:45 GBp 330 380.20 CHIX xHaNOzHefz9
    21/10/2024 16:28:44 GBp 1,591 380.20 BATE xHaNOzHefy1
    21/10/2024 16:28:44 GBp 489 380.20 XLON xHaNOzHefy5
    21/10/2024 16:28:44 GBp 532 380.20 XLON xHaNOzHefy7
    21/10/2024 16:28:44 GBp 600 380.20 CHIX xHaNOzHefyA
    21/10/2024 16:28:44 GBp 600 380.20 CHIX xHaNOzHefyC
    21/10/2024 16:28:44 GBp 44 380.20 CHIX xHaNOzHefyE
    21/10/2024 16:28:44 GBp 23 380.20 CHIX xHaNOzHefyG
    21/10/2024 16:28:41 GBp 855 380.40 BATE xHaNOzHefvD
    21/10/2024 16:28:41 GBp 75 380.40 BATE xHaNOzHefvF
    21/10/2024 16:28:41 GBp 22 380.40 BATE xHaNOzHefvH
    21/10/2024 16:28:41 GBp 809 380.20 BATE xHaNOzHefvO
    21/10/2024 16:28:41 GBp 59 380.40 BATE xHaNOzHefvT
    21/10/2024 16:28:40 GBp 75 380.40 BATE xHaNOzHefw0
    21/10/2024 16:28:40 GBp 75 380.40 BATE xHaNOzHefwM
    21/10/2024 16:28:40 GBp 75 380.40 BATE xHaNOzHef5a
    21/10/2024 16:28:40 GBp 75 380.40 BATE xHaNOzHef5o
    21/10/2024 16:28:40 GBp 1,572 380.40 BATE xHaNOzHef5u
    21/10/2024 16:28:40 GBp 1,897 380.40 BATE xHaNOzHef51
    21/10/2024 16:28:40 GBp 26 380.40 BATE xHaNOzHef53
    21/10/2024 16:28:40 GBp 1,850 380.40 BATE xHaNOzHef58
    21/10/2024 16:28:40 GBp 330 380.40 BATE xHaNOzHef5A
    21/10/2024 16:28:40 GBp 75 380.40 BATE xHaNOzHef5C
    21/10/2024 16:28:38 GBp 581 380.40 BATE xHaNOzHef47
    21/10/2024 16:28:38 GBp 300 380.40 BATE xHaNOzHef4R
    21/10/2024 16:28:38 GBp 600 380.40 BATE xHaNOzHef4T
    21/10/2024 16:28:38 GBp 632 380.20 XLON xHaNOzHef7d
    21/10/2024 16:28:38 GBp 1,920 380.40 BATE xHaNOzHef7l
    21/10/2024 16:28:38 GBp 32 380.20 CHIX xHaNOzHef7v
    21/10/2024 16:28:38 GBp 600 380.20 CHIX xHaNOzHef7x
    21/10/2024 16:28:38 GBp 1,378 380.20 BATE xHaNOzHef72
    21/10/2024 16:28:38 GBp 946 380.40 BATE xHaNOzHef77
    21/10/2024 16:28:15 GBp 2,324 380.00 BATE xHaNOzHefMi
    21/10/2024 16:28:15 GBp 1,975 380.00 CHIX xHaNOzHefMk
    21/10/2024 16:28:07 GBp 75 379.60 BATE xHaNOzHefTX
    21/10/2024 16:28:07 GBp 22 379.60 BATE xHaNOzHefTZ
    21/10/2024 16:28:07 GBp 103 379.60 BATE xHaNOzHefTd
    21/10/2024 16:26:16 GBp 1,025 379.40 XLON xHaNOzHeNW@
    21/10/2024 16:22:43 GBp 390 379.40 XLON xHaNOzHeLPX
    21/10/2024 16:22:25 GBp 527 379.60 XLON xHaNOzHeIm6
    21/10/2024 16:22:25 GBp 45 379.60 CHIX xHaNOzHeIpd
    21/10/2024 16:22:25 GBp 336 379.60 CHIX xHaNOzHeIpf
    21/10/2024 16:22:25 GBp 364 379.60 BATE xHaNOzHeIpY
    21/10/2024 16:22:25 GBp 1,025 379.60 XLON xHaNOzHeIpn
    21/10/2024 16:22:25 GBp 1,025 379.60 BATE xHaNOzHeIpp
    21/10/2024 16:22:25 GBp 257 379.60 CHIX xHaNOzHeIpr
    21/10/2024 16:22:24 GBp 768 379.60 CHIX xHaNOzHeIpy
    21/10/2024 16:21:40 GBp 106 379.80 XLON xHaNOzHeJdk
    21/10/2024 16:21:40 GBp 46 379.80 CHIX xHaNOzHeJdq
    21/10/2024 16:21:40 GBp 51 379.80 CHIX xHaNOzHeJds
    21/10/2024 16:21:40 GBp 336 379.80 CHIX xHaNOzHeJdy
    21/10/2024 16:21:40 GBp 45 379.80 CHIX xHaNOzHeJd@
    21/10/2024 16:21:40 GBp 221 379.60 XLON xHaNOzHeJd5
    21/10/2024 16:21:40 GBp 68 379.60 BATE xHaNOzHeJd7
    21/10/2024 16:21:40 GBp 340 379.60 BATE xHaNOzHeJdD
    21/10/2024 16:21:37 GBp 232 379.80 XLON xHaNOzHeJWn
    21/10/2024 16:21:37 GBp 943 379.80 XLON xHaNOzHeJWt
    21/10/2024 16:21:37 GBp 374 380.00 CHIX xHaNOzHeJWu
    21/10/2024 16:21:37 GBp 272 380.00 CHIX xHaNOzHeJWw
    21/10/2024 16:21:37 GBp 47 380.00 CHIX xHaNOzHeJWU
    21/10/2024 16:21:37 GBp 197 380.00 CHIX xHaNOzHeJWP
    21/10/2024 16:21:37 GBp 23 380.00 CHIX xHaNOzHeJWR
    21/10/2024 16:21:37 GBp 274 380.00 CHIX xHaNOzHeJWT
    21/10/2024 16:21:37 GBp 82 379.80 XLON xHaNOzHeJZc
    21/10/2024 16:21:37 GBp 1,025 379.80 CHIX xHaNOzHeJZe
    21/10/2024 16:21:37 GBp 1,025 379.80 BATE xHaNOzHeJZg
    21/10/2024 16:20:12 GBp 565 379.80 XLON xHaNOzHeGzX
    21/10/2024 16:15:58 GBp 289 379.60 BATE xHaNOzHeScS
    21/10/2024 16:15:58 GBp 340 379.60 XLON xHaNOzHeScQ
    21/10/2024 16:15:56 GBp 580 379.60 BATE xHaNOzHeSXF
    21/10/2024 16:15:55 GBp 285 380.00 BATE xHaNOzHeSWl
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSWC
    21/10/2024 16:15:55 GBp 364 380.00 BATE xHaNOzHeSZX
    21/10/2024 16:15:55 GBp 423 380.00 BATE xHaNOzHeSZp
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSZv
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSZ3
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSZC
    21/10/2024 16:15:55 GBp 691 380.00 BATE xHaNOzHeSZP
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSZR
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSYX
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSYY
    21/10/2024 16:15:55 GBp 918 380.00 BATE xHaNOzHeSYg
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSYi
    21/10/2024 16:15:55 GBp 600 380.00 BATE xHaNOzHeSYr
    21/10/2024 16:15:55 GBp 900 380.00 BATE xHaNOzHeSYt
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSYv
    21/10/2024 16:15:55 GBp 1,751 380.00 BATE xHaNOzHeSY$
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSY1
    21/10/2024 16:15:55 GBp 232 379.80 XLON xHaNOzHeSY4
    21/10/2024 16:15:55 GBp 1,180 380.00 BATE xHaNOzHeSYL
    21/10/2024 16:15:55 GBp 330 380.00 BATE xHaNOzHeSYN
    21/10/2024 16:15:55 GBp 469 380.00 BATE xHaNOzHeSYP
    21/10/2024 16:15:55 GBp 75 380.00 BATE xHaNOzHeSYR
    21/10/2024 16:15:55 GBp 17 380.00 BATE xHaNOzHeSYV
    21/10/2024 16:15:55 GBp 18 380.00 BATE xHaNOzHeSYT
    21/10/2024 16:15:55 GBp 1,025 379.80 XLON xHaNOzHeSjc
    21/10/2024 16:15:55 GBp 1,025 379.80 BATE xHaNOzHeSje
    21/10/2024 16:15:55 GBp 961 379.80 CHIX xHaNOzHeSjg
    21/10/2024 16:14:46 GBp 177 379.80 XLON xHaNOzHeTWd
    21/10/2024 16:11:55 GBp 95 379.80 CHIX xHaNOzHeRiI
    21/10/2024 16:08:44 GBp 950 380.00 XLON xHaNOzHePsv
    21/10/2024 16:08:44 GBp 93 380.00 XLON xHaNOzHePsx
    21/10/2024 16:08:44 GBp 1 380.00 XLON xHaNOzHePsz
    21/10/2024 16:08:44 GBp 89 380.00 XLON xHaNOzHePst
    21/10/2024 16:08:44 GBp 447 380.00 XLON xHaNOzHePsA
    21/10/2024 16:08:44 GBp 449 379.80 XLON xHaNOzHePsK
    21/10/2024 16:08:44 GBp 300 379.80 CHIX xHaNOzHePsM
    21/10/2024 16:08:44 GBp 201 379.80 BATE xHaNOzHePsO
    21/10/2024 16:08:44 GBp 248 379.80 BATE xHaNOzHePsQ
    21/10/2024 16:08:44 GBp 1,025 380.00 XLON xHaNOzHePsS
    21/10/2024 16:08:44 GBp 686 380.00 CHIX xHaNOzHePsU
    21/10/2024 16:08:44 GBp 1,025 380.00 BATE xHaNOzHePnW
    21/10/2024 16:08:04 GBp 110 380.00 CHIX xHaNOzHePP0
    21/10/2024 16:07:11 GBp 320 380.00 XLON xHaNOzHe66D
    21/10/2024 16:06:29 GBp 169 380.00 CHIX xHaNOzHe7lX
    21/10/2024 16:06:25 GBp 232 380.20 CHIX xHaNOzHe7fc
    21/10/2024 16:06:25 GBp 92 380.20 BATE xHaNOzHe7fj
    21/10/2024 16:06:25 GBp 1,044 380.20 BATE xHaNOzHe7fl
    21/10/2024 16:06:25 GBp 614 380.20 CHIX xHaNOzHe7fn
    21/10/2024 16:06:25 GBp 1,025 380.20 XLON xHaNOzHe7fp
    21/10/2024 16:05:36 GBp 553 380.20 XLON xHaNOzHe7AZ
    21/10/2024 16:05:34 GBp 4,790 380.60 XLON xHaNOzHe7HW
    21/10/2024 16:05:34 GBp 3,102 380.60 XLON xHaNOzHe7MU
    21/10/2024 16:05:34 GBp 600 380.60 XLON xHaNOzHe7HY
    21/10/2024 16:05:34 GBp 198 380.60 XLON xHaNOzHe7Ha
    21/10/2024 16:05:34 GBp 440 380.60 XLON xHaNOzHe7Hc
    21/10/2024 16:05:34 GBp 220 380.60 XLON xHaNOzHe7He
    21/10/2024 16:05:32 GBp 178 380.60 XLON xHaNOzHe7Gk
    21/10/2024 16:05:32 GBp 600 380.60 XLON xHaNOzHe7Gm
    21/10/2024 16:05:32 GBp 600 380.60 XLON xHaNOzHe7Go
    21/10/2024 16:05:32 GBp 102 380.60 XLON xHaNOzHe7Gq
    21/10/2024 16:05:32 GBp 413 380.60 XLON xHaNOzHe7Gs
    21/10/2024 16:05:32 GBp 546 380.60 XLON xHaNOzHe7Gu
    21/10/2024 16:05:32 GBp 1,190 380.40 XLON xHaNOzHe7G$
    21/10/2024 16:05:32 GBp 456 380.40 BATE xHaNOzHe7G1
    21/10/2024 16:05:32 GBp 7 380.40 CHIX xHaNOzHe7G3
    21/10/2024 16:05:32 GBp 391 380.40 CHIX xHaNOzHe7G5
    21/10/2024 16:05:30 GBp 391 380.60 BATE xHaNOzHe7Ir
    21/10/2024 16:05:30 GBp 391 380.60 CHIX xHaNOzHe7It
    21/10/2024 16:05:28 GBp 153 381.00 CHIX xHaNOzHe7Va
    21/10/2024 16:05:28 GBp 169 381.00 CHIX xHaNOzHe7Vc
    21/10/2024 16:05:28 GBp 889 381.00 CHIX xHaNOzHe7Ve
    21/10/2024 16:05:28 GBp 84 381.00 CHIX xHaNOzHe7Vg
    21/10/2024 16:05:28 GBp 270 381.00 CHIX xHaNOzHe7Vi
    21/10/2024 16:05:28 GBp 1,423 381.00 BATE xHaNOzHe7UZ
    21/10/2024 16:05:28 GBp 497 381.00 BATE xHaNOzHe7Ub
    21/10/2024 16:05:28 GBp 75 381.00 BATE xHaNOzHe7Ud
    21/10/2024 16:05:28 GBp 18 381.00 BATE xHaNOzHe7Uf
    21/10/2024 16:05:28 GBp 449 380.60 BATE xHaNOzHe7Ur
    21/10/2024 16:05:28 GBp 449 380.60 XLON xHaNOzHe7Ut
    21/10/2024 16:05:28 GBp 1,025 380.80 XLON xHaNOzHe7Uv
    21/10/2024 16:05:28 GBp 1,025 380.80 BATE xHaNOzHe7Ux
    21/10/2024 16:05:28 GBp 893 380.80 CHIX xHaNOzHe7Uz
    21/10/2024 16:03:53 GBp 753 380.20 XLON xHaNOzHe5ZK
    21/10/2024 16:02:43 GBp 393 380.60 XLON xHaNOzHe2bN
    21/10/2024 16:02:43 GBp 129 380.60 XLON xHaNOzHe2bP
    21/10/2024 16:02:43 GBp 127 380.60 XLON xHaNOzHe2ak
    21/10/2024 16:02:43 GBp 97 380.60 XLON xHaNOzHe2am
    21/10/2024 16:02:43 GBp 592 380.40 XLON xHaNOzHe2ar
    21/10/2024 16:02:43 GBp 400 380.20 CHIX xHaNOzHe2au
    21/10/2024 16:02:43 GBp 772 380.60 CHIX xHaNOzHe2a@
    21/10/2024 16:02:43 GBp 45 380.60 CHIX xHaNOzHe2a0
    21/10/2024 16:02:43 GBp 1,235 380.40 XLON xHaNOzHe2a7
    21/10/2024 16:02:43 GBp 25 380.40 BATE xHaNOzHe2a9
    21/10/2024 16:02:43 GBp 233 380.40 CHIX xHaNOzHe2aB
    21/10/2024 16:02:43 GBp 681 380.40 CHIX xHaNOzHe2aD
    21/10/2024 16:02:43 GBp 1,486 380.40 BATE xHaNOzHe2aF
    21/10/2024 16:02:43 GBp 20,271 380.80 BATE xHaNOzHe2aG
    21/10/2024 16:02:43 GBp 300 380.80 BATE xHaNOzHe2aI
    21/10/2024 16:02:43 GBp 600 380.80 BATE xHaNOzHe2aK
    21/10/2024 16:02:43 GBp 600 380.80 BATE xHaNOzHe2aM
    21/10/2024 16:02:43 GBp 18 380.80 BATE xHaNOzHe2aO
    21/10/2024 16:02:43 GBp 124 380.60 XLON xHaNOzHe2aV
    21/10/2024 16:02:43 GBp 384 380.60 XLON xHaNOzHe2dX
    21/10/2024 16:02:43 GBp 232 380.60 BATE xHaNOzHe2dZ
    21/10/2024 16:02:41 GBp 609 380.80 XLON xHaNOzHe2cU
    21/10/2024 16:02:41 GBp 68 380.80 BATE xHaNOzHe2Xf
    21/10/2024 16:02:41 GBp 194 380.80 BATE xHaNOzHe2Xh
    21/10/2024 16:02:41 GBp 985 380.60 CHIX xHaNOzHe2Xk
    21/10/2024 16:00:45 GBp 617 380.20 XLON xHaNOzHe3xq
    21/10/2024 15:55:26 GBp 610 380.20 XLON xHaNOzHeFD8
    21/10/2024 15:55:26 GBp 430 380.20 XLON xHaNOzHeFDA
    21/10/2024 15:55:26 GBp 91 380.20 XLON xHaNOzHeFDC
    21/10/2024 15:55:26 GBp 89 380.20 XLON xHaNOzHeFDE
    21/10/2024 15:55:26 GBp 99 380.20 XLON xHaNOzHeFDG
    21/10/2024 15:55:26 GBp 177 380.20 XLON xHaNOzHeFDI
    21/10/2024 15:55:26 GBp 203 380.20 XLON xHaNOzHeFDK
    21/10/2024 15:55:21 GBp 981 379.40 BATE xHaNOzHeFBh
    21/10/2024 15:55:21 GBp 955 379.40 XLON xHaNOzHeFB7
    21/10/2024 15:55:21 GBp 788 379.40 XLON xHaNOzHeFB9
    21/10/2024 15:55:15 GBp 424 379.80 XLON xHaNOzHeFTH
    21/10/2024 15:55:15 GBp 158 379.80 XLON xHaNOzHeFTJ
    21/10/2024 15:55:15 GBp 255 379.60 BATE xHaNOzHeFSW
    21/10/2024 15:55:15 GBp 182 379.80 XLON xHaNOzHeFSY
    21/10/2024 15:55:15 GBp 404 379.80 XLON xHaNOzHeFSh
    21/10/2024 15:55:15 GBp 99 379.80 XLON xHaNOzHeFSd
    21/10/2024 15:55:15 GBp 451 379.80 XLON xHaNOzHeFSf
    21/10/2024 15:55:15 GBp 296 379.80 BATE xHaNOzHeFSs
    21/10/2024 15:55:15 GBp 476 379.80 BATE xHaNOzHeFS$
    21/10/2024 15:55:15 GBp 318 379.80 BATE xHaNOzHeFS1
    21/10/2024 15:55:15 GBp 266 379.80 CHIX xHaNOzHeFSH
    21/10/2024 15:55:15 GBp 300 379.80 CHIX xHaNOzHeFSJ
    21/10/2024 15:55:15 GBp 343 379.60 CHIX xHaNOzHeFSM
    21/10/2024 15:55:15 GBp 449 379.60 BATE xHaNOzHeFSO
    21/10/2024 15:55:15 GBp 449 379.60 XLON xHaNOzHeFSQ
    21/10/2024 15:55:15 GBp 1,025 379.80 XLON xHaNOzHeFSS
    21/10/2024 15:55:15 GBp 1,025 379.80 BATE xHaNOzHeFSU
    21/10/2024 15:55:15 GBp 783 379.80 CHIX xHaNOzHeFVW
    21/10/2024 15:53:43 GBp 269 379.80 BATE xHaNOzHeD1x
    21/10/2024 15:53:40 GBp 47 380.20 CHIX xHaNOzHeDDX
    21/10/2024 15:53:40 GBp 51 380.20 CHIX xHaNOzHeDDe
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    The MIL Network

  • MIL-OSI China: MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    October 16, 2024

    In response to a question from the media on October 16, a spokesperson for the Australian Department of Foreign Affairs and Trade said that Australia was deeply concerned that China had commenced large-scale military exercises around Taiwan and that Australia urged China to refrain from actions that increased the risk of accident and potential escalation. The spokesperson added that differences should be resolved through dialogue, not the threat of force or coercion, and that peace and stability across the Taiwan Strait were in the interests of all parties. 

    The Ministry of Foreign Affairs (MOFA) sincerely thanks the government of Australia for paying close attention to the Taiwan Strait situation, calling on China to show restraint, and underscoring the importance of cross-strait peace and stability. Taiwan will continue to work with Australia and other like-minded partners to uphold the rules-based international order and advance regional peace, stability, and prosperity.

    MIL OSI China News

  • MIL-OSI Asia-Pac: MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    Source: Republic of China Taiwan 3

    MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    October 16, 2024In response to a question from the media on October 16, a spokesperson for the Australian Department of Foreign Affairs and Trade said that Australia was deeply concerned that China had commenced large-scale military exercises around Taiwan and that Australia urged China to refrain from actions that increased the risk of accident and potential escalation. The spokesperson added that differences should be resolved through dialogue, not the threat of force or coercion, and that peace and stability across the Taiwan Strait were in the interests of all parties. The Ministry of Foreign Affairs (MOFA) sincerely thanks the government of Australia for paying close attention to the Taiwan Strait situation, calling on China to show restraint, and underscoring the importance of cross-strait peace and stability. Taiwan will continue to work with Australia and other like-minded partners to uphold the rules-based international order and advance regional peace, stability, and prosperity.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: MOEA Clarifies Media Report by MIT Technology Review on Alleged Assistance to Chinese Companies to Evade U.S. Tariffs

    Source: Republic Of China Taiwan 2

    On January 8, foreign media outlet MIT Technology Review inaccurately reported that the Taiwan government would assist Chinese companies in establishing operations in Taiwan to circumvent US tariffs. The Ministry of Economic Affairs (MOEA) regrets that the report was published without prior verification with the ministry. A formal letter has been sent to the media requesting a correction. The MOEA solemnly clarifies that its long-standing efforts have been directed toward assisting Taiwanese enterprises, not Chinese companies as the report incorrectly claimed. In response to the potential imposition of higher tariffs on Chinese products by the new U.S. administration, Minister Kuo has consistently emphasized the ministry’s support for Taiwanese businesses operating in China to relocate their production lines back to Taiwan or to other regions not affected by tariffs, including the United States.

    The MOEA will continue to provide systematic support and resources based on the needs of businesses to help them diversify their investment strategies and build a resilient supply chain. Through the Taiwan Desk and the Connecting the World to Taiwan Policy, the ministry offers investment services to Taiwanese enterprises in eight New Southbound Policy countries, as well as in Japan and the Czech Republic. Additionally, economic divisions stationed in major countries and Taiwan Trade Centers are available to provide further assistance. In response to US policies and to meet the demands of Taiwanese enterprises’ clients, the government will continue to collaborate with the American Institute in Taiwan (AIT) to invite domestic industry associations and enterprises to participate in the 2025 SelectUSA Investment Summit, strengthening their presence in the US market.

    Furthermore, Taiwanese businesses can take advantage of the Three Major Programs for Investing in Taiwan, which facilitate the relocation of high-end production capacity back to Taiwan. The program has been extended to 2027, with revised eligibility criteria to expand coverage to overseas Taiwanese enterprises and foreign-invested companies. The program focuses on five trusted industries, the service sector, and the healthcare industry, with a mandatory requirement for AI applications to enhance the resilience of the supply chain. These measures are designed to encourage the return of Taiwanese businesses from China.

    Spokesperson: MOEA DOIP Deputy Director, Rio Lu
    Tel: (02) 2389-2111 ext. 812
    E-mail: rio@moea.gov.tw

    Contact: MOEA DOIP Section Chief, Chuang Wen-Chang
    Tel: (02) 2389-2111 ext. 110, 0922-007-093
    E-mail: wcchuang@moea.gov.tw

    MIL OSI Asia Pacific News

  • MIL-OSI: BW Energy: Invitation to Q4 2024 results presentation 31 January  

    Source: GlobeNewswire (MIL-OSI)

    Invitation to Q4 2024 results presentation 31 January  

    BW Energy will release its fourth quarter and preliminary full-year 2024 results on Friday, 31 January at 07:30 CET.  

    A conference call followed by Q&A will be hosted by CEO Carl K. Arnet, CFO Brice Morlot and COO Lin G. Espey the same day at 15:00 CET. 

    You can follow the presentation via webcast with supporting slides, available on: 

    Viewer Registration Q4 2024  

    https://events.webcast.no/viewer-registration/RLEuPs34/register 

    Call-in information 

    Participants dial in numbers: 

    DK: +45 7876 8490 

    SE: +46 8 1241 0952 
    NO: +47 2195 6342 
    UK: +44 203 769 6819 
    US: +1 646-787-0157 
    Singapore: 65-3-1591097 
    France: 33-1-81221259 

    PIN code: 980877 

    For further information, please contact:

    ir@bwenergy.no  


    About BW Energy:
     

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. BW Energy has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. BW Energy’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy, as well as approximately 6.6% (on an undiluted basis) of the common shares of Reconnaissance Energy Africa Ltd. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalent at the start of 2024.  

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

    The MIL Network

  • MIL-Evening Report: How we treat catchment water to make it safe to drink

    Source: The Conversation (Au and NZ) – By Mark Patrick Taylor, Chief Environmental Scientist, EPA Victoria; Honorary Professor, School of Natural Sciences, Macquarie University

    Andriana Syvanych/Shutterstock

    Most of us are fortunate that, when we turn on the tap, clean, safe and high-quality water comes out.

    But a senate inquiry into the presence of PFAS or “forever chemicals” is putting the safety of our drinking water back in the spotlight.

    Lidia Thorpe, the independent senator leading the inquiry, says Elders in the Aboriginal community of Wreck Bay in New South Wales are “buying bottled water out of their aged care packages” due to concerns about the health impacts of PFAS in their drinking water.

    So, how is water deemed safe to drink in Australia? And why does water quality differ in some areas?

    Here’s what happens between a water catchment and your tap.

    Human intervention in the water cycle

    There is no “new” water on Earth. The water we drink can be up to 4.5 billion years old and is continuously recycled through the hydrological cycle. This transfers water from the ground to the atmosphere through evaporation and back again (for example, through rain).

    Humans interfere with this natural cycle by trapping and redirecting water from various sources to use. A lot happens before it reaches your home.

    The quality of the water when you turn on the tap depends on a range of factors, including the local geology, what kind of activities happen in catchment areas, and the different treatments used to process it.

    Maroondah dam in Healesville, Victoria.
    doublelee/Shutterstock

    How do we decide what’s safe?

    The Australian Drinking Water Guidelines define what is considered safe, good-quality drinking water.

    The guidelines set acceptable water quality values for more than 250 physical, chemical and bacterial contaminants. They take into account any potential health impact of drinking the contaminant over a lifetime as well as aesthetics – the taste and colour of the water.

    The guidelines are not mandatory but provide the basis for determining if the quality of water to be supplied to consumers in all parts of Australia is safe to drink. The guidelines undergo rolling revision to ensure they represent the latest scientific evidence.

    From water catchment to tap

    Australians’ drinking water mainly comes from natural catchments. Sources include surface water, groundwater and seawater (via desalination).

    Public access to these areas is typically limited to preserve optimal water quality.

    Filtration and purification of water occurs naturally in catchments as it passes through soil, sediments, rocks and vegetation.

    But catchment water is subject to further treatment via standard processes that typically focus on:

    • removing particulates (for example, soil and sediment)

    • filtration (to remove particles and their contaminants)

    • disinfection (for example, using chlorine and chloramine to kill bacteria and viruses)

    • adding fluoride to prevent tooth decay

    • adjusting pH to balance the chemistry of the water and to aid filtration.

    This water is delivered to our taps via a reticulated system – a network of underground reservoirs, pipes, pumps and fittings.

    In areas where there is no reticulated system, drinking water can also be sourced from rainwater tanks. This means the quality of drinking water can vary.

    Sources of contamination can come from roof catchments feeding rainwater tanks as well from the tap due to lead in plumbing fittings and materials.

    So, does all water meet these standards?

    Some rural and remote areas, especially First Nations communities, rely on poor-quality surface water and groundwater
    for their drinking water.

    Rural and regional water can exceed recommended guidelines for salt, microbial contaminants and trace elements, such as lead, manganese and arsenic.

    The federal government and other agencies are trying to address this.

    There are many impacts of poor regional water quality. These include its implication in elevated rates of tooth decay in First Nations people. This occurs when access to chilled, sugary drinks is cheaper and easier than access to good quality water.

    What about PFAS?

    There is also renewed concern about the presence of PFAS or “forever” chemicals in drinking water.

    Recent research examining the toxicity of PFAS chemicals along with their presence in some drinking water catchments in Australia and overseas has prompted a recent assessment of water source contamination.

    A review by the National Health and Medical Research Council (NHMRC) proposed lowering the limits for four PFAS chemicals in drinking water: PFOA, PFOS, PFHxS and PFBS.

    The review used publicly available data and found most drinking water supplies are currently below the proposed new guideline values for PFAS.

    However, “hotspots” of PFAS remain where drinking water catchments or other sources (for example, groundwater) have been impacted by activities where PFAS has been used in industrial applications. And some communities have voiced concerns about an association between elevated PFAS levels in their communities and cancer clusters.

    While some PFAS has been identified as carcinogenic, it’s not certain that PFAS causes cancer. The link is still being debated.

    Importantly, assessment of exposure levels from all sources in the population shows PFAS levels are falling meaning any exposure risk has also reduced over time.

    How about removing PFAS from water?

    Most sources of drinking water are not associated with industrial contaminants like PFAS. So water sources are generally not subject to expensive treatment processes, like reverse osmosis, that can remove most waterborne pollutants, including PFAS. These treatments are energy-intensive and expensive and based on recent water quality assessments by the NHMRC will not be needed.

    While contaminants are everywhere, it is the dose that makes the poison. Ultra-low concentrations of chemicals including PFAS, while not desirable, may not be harmful and total removal is not warranted.

    Mark Patrick Taylor is a full-time employee of EPA Victoria, appointed to the statutory role of Chief Environmental Scientist. He is also an Honorary Professor at Macquarie University. EPA Victoria has previously received funding from the Department of Energy, Environment and Climate Action and Victorian water authorities to understand the presence of contaminants waste water. He has previously received funding from the Australian Government, ARC and other government agencies for environmental pollution research.

    Antti Mikkonen is a full-time employee of EPA Victoria, in the role of Principal Health Risk Advisor for chemicals. Antti has previously received funding from the Australian Government Department of Education for research to understand PFAS bioaccumulation in livestock and models for risk management.

    Minna Saaristo is a full-time employee of EPA Victoria, appointed to the role of Principal Scientist – Ecological Risk and Emerging contaminants. She is affiliate of the School of Biological Sciences at Monash University. EPA Victoria has previously received funding from the Department of Energy, Environment and Climate Action and Victorian water authorities to understand the presence of emerging contaminants in recycled water. She has previously received funding from the Australian Government, ARC and other government agencies for environmental pollution research.

    ref. How we treat catchment water to make it safe to drink – https://theconversation.com/how-we-treat-catchment-water-to-make-it-safe-to-drink-242206

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Municipality Finance issues RON 106,5 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    24 January 2025 at 10:00 am (EET)

    Municipality Finance issues RON 106,5 million notes under its MTN programme

    Municipality Finance Plc issues RON 106,5 million notes on 27 January 2025. The maturity date of the notes is 27 January 2026. The notes bear interest at a fixed rate of 6.75% per annum.

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

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 27 January 2025.

    Citigroup Global Markets Europe AG acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

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

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

    MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

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

    Read more: http://www.munifin.fi

    Important Information

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

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

    The MIL Network

  • MIL-OSI Asia-Pac: SEE to attend International Energy Week in Singapore

    Source: Hong Kong Government special administrative region

    SEE to attend International Energy Week in Singapore
    SEE to attend International Energy Week in Singapore
    ****************************************************

     ​     The Secretary for Environment and Ecology, Mr Tse Chin-wan, will depart for Singapore tomorrow (October 20) afternoon to attend the Singapore International Energy Week (SIEW).      Mr Tse will attend the SIEW Summit on October 21 to speak on the topic “Asia’s Collaborative Journey to a Sustainable Energy Future” and engage in in-depth discussions and exchanges with other participants. During his stay in Singapore, Mr Tse will meet with officials from the Ministry of Trade and Industry and the Maritime and Port Authority of Singapore to exchange views on hydrogen development and green maritime fuel respectively. He will also visit a local enterprise to understand better the application of sustainable aviation fuel.      The Director of Electrical and Mechanical Services, Mr Poon Kwok-ying, and officers from the Environment and Ecology Bureau and the Electrical and Mechanical Services Department will also join the visit.          Mr Tse will arrive in Hong Kong on October 22. During his absence, the Under Secretary for Environment and Ecology, Miss Diane Wong, will be the Acting Secretary for Environment and Ecology.

     
    Ends/Saturday, October 19, 2024Issued at HKT 18:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Tse Chin-wan to join energy summit

    Source: Hong Kong Information Services

    Secretary for Environment & Ecology Tse Chin-wan will depart for Singapore on October 20 to attend Singapore International Energy Week (SIEW).

    Mr Tse will attend the SIEW Summit on October 21 to speak on “Asia’s Collaborative Journey to a Sustainable Energy Future” and engage in in-depth discussions and exchanges with other participants.

    During his stay in Singapore, Mr Tse will meet officials from the Ministry of Trade & Industry and the Maritime & Port Authority of Singapore to exchange views on hydrogen development and green maritime fuel respectively.

    He will also visit a local enterprise to understand better the application of sustainable aviation fuel.

    Director of Electrical & Mechanical Services Poon Kwok-ying and officers from the Environment & Ecology Bureau and the Electrical & Mechanical Services Department will join the visit.

    Mr Tse will arrive back in Hong Kong on October 22. During his absence, Under Secretary for Environment & Ecology Diane Wong will be Acting Secretary.

    MIL OSI Asia Pacific News

  • MIL-OSI: Metaverse Rising Again: Versity Adds Kuwaiti Royal Advisor to its Team and Prepares to Grow in the Middle East!

    Source: GlobeNewswire (MIL-OSI)

    NICE, France, Oct. 19, 2024 (GLOBE NEWSWIRE) — Offering revolutionary digital solutions in the real estate industry, Versity has added a new one to its strategic cooperation and innovative steps. After acquiring France’s largest new real estate platform INEUF.com, Versity has now announced the addition of Hassan F. Beidas, Advisor to the Kuwaiti Royal Family, to its team to lead its expansion and investment strategies in the Middle East.

    Versity’s Growing Portfolio with Strong Investments in the Middle East

    Hassan F. Beidas has been an advisor to the Kuwaiti Royal Family for over 12 years and has been instrumental in managing large financial investments in the region. Beidas, who is also the Managing Director of the Arab Trade and Real Estate Office, will be an important guide in Versity’s global growth journey. This cooperation paves the way for Versity to expand its portfolio and create a wider space in the international market with significant investments coming from Kuwait.

    Strong Positioning in the Middle East and Europe Market with INEUF.com and Versity Cooperation

    Versity recently acquired INEUF.com, which has a database of more than 4,000 real estate projects and over 120,000 apartments for sale across France. INEUF.com’s extensive customer network and team of expert consultants will strengthen Versity’s digital real estate solutions and provide a solid foundation for growth in the Middle East. Versity aims to provide innovative services from Europe to the Gulf region by increasing efficiency through AI-powered customer relationship management tools.

    Comment on the Collaboration by Frédéric Ibanez, President of Versity

    “We are honored to have Mr. Hassan F. Beidas join our team. His knowledge of international markets and strong investment network will contribute greatly to achieving our global growth targets. I would also like to take this opportunity to express my sincere thanks to His Highness Sheikh Duaij Jaber Ali Al Sabah of the Kuwaiti Royal Family for his sincere support. This collaboration opens the door to a new era for Versity,” said Frédéric Ibanez.

    About Versity SA:
    Versity SA is a technology company listed on Euronext Access, developing innovative digital solutions for the real estate industry. Integrating 3D and Web3 technologies, Versity aims to revolutionize the real estate industry by bringing real-world interactions to the digital world.

    About INEUF.com:
    INEUF.com, France’s largest new real estate marketplace, offers more than 4,000 programs and a portfolio of more than 120,000 apartments for sale. With a network of 320 consultants, the company is the market leader in new real estate programs and investment property sales in France and French overseas territories.

    X: https://x.com/HelloVersity
    Website : https://versity.io/en
    Youtube: https://www.youtube.com/watch?v=eXiqMB0tgBg
    Telegram : https://t.me/HelloVersity

    Contact:
    Frederic Ibanez
    presse@versity.io

    Disclaimer: This content is provided by Versity. 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/5e1b3107-6aae-4151-8cdb-56ecdecf2782

    https://www.globenewswire.com/NewsRoom/AttachmentNg/972742cf-7c0b-4134-ae4c-51628cb71c3e

    The MIL Network

  • MIL-OSI Canada: Minister Ng and Minister MacAulay statement on Canada’s CPTPP dairy tariff rate quota dispute with New Zealand

    Source: Government of Canada News

    Statement

    October 19, 2024 – Ottawa, Ontario – Global Affairs Canada

    The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, and the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, issued the following statement about Canada’s dairy tariff rate quota (TRQ) policies under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

    “Canada is very disappointed that New Zealand has decided to continue to challenge Canada’s dairy TRQ system. We have been through this before and have consistently and successfully defended our dairy sector and supply management from trade challenges under CUSMA and the CPTPP.

    “The Government of Canada will always defend our supply management, firmly standing up for Canada’s dairy industry, farmers and workers and the communities they support.

    “New Zealand continues to be an important, like-minded partner for Canada and we will engage in the process in good faith. We are confident that Canada’s new policies fulfill Canada’s obligation to eliminate the non-conformity identified by the panel.”

    Associated links

    Contacts

    Huzaif Qaisar
    Press Secretary
    Office of the Minister of Export Promotion, International Trade and Economic Development
    343-575-8816
    Huzaif.Qaisar@international.gc.ca

    Media Relations Office
    Global Affairs Canada
    media@international.gc.ca
    Follow us on Twitter: @CanadaTrade
    Like us on Facebook: Canada’s international trade – Global Affairs Canada

    Media Relations
    Agriculture and Agri-Food Canada
    Ottawa, Ontario
    1-866-345-7972
    aafc.mediarelations-relationsmedias.aac@agr.gc.ca
    Follow us on TwitterFacebookInstagram, and LinkedIn
    Web: Agriculture and Agri-Food Canada

    MIL OSI Canada News

  • MIL-OSI China: Xi sends congratulatory letter to 2024 AIPPI World Congress

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

    BEIJING, Oct. 19 — Chinese President Xi Jinping on Saturday sent a congratulatory letter to the 2024 International Association for the Protection of Intellectual Property (AIPPI) World Congress.

    Xi stressed that China has always attached great importance to the protection of intellectual property (IP) rights and has actively promoted efforts to build itself into an IP powerhouse. He noted that China has made historic accomplishments in IP protection and forged a path of IP development with Chinese characteristics.

    China is willing to work with all parties to continue to strengthen cooperation, firmly safeguard the international IP multilateral system, contribute Chinese wisdom and solutions to creating an international environment conducive to innovation and development, promote the development of a global IP governance system in a more just and reasonable direction, and make contribution to the well-being of humankind.

    Themed “balanced protection and innovative development of IP rights,” the 2024 AIPPI World Congress opened in the city of Hangzhou in east China’s Zhejiang Province on Saturday. The event is co-organized by the China Council for the Promotion of International Trade and the AIPPI.

    MIL OSI China News

  • MIL-OSI China: 1st China-Europe freight train for CIIE 2024 arrives in Shanghai

    Source: China State Council Information Office

    This year’s first “Jinbo” China-Europe freight train arrives at the Minhang Station in Shanghai, east China, Oct. 20, 2024. [Photo/Xinhua]

    The first “Jinbo” China-Europe freight train carrying exhibits for the 7th China International Import Expo (CIIE) arrived at the Minhang Station in Shanghai on Sunday, marking the fourth consecutive year that CIIE exhibition products have been transported to Shanghai via the China-Europe freight train service.

    “Jinbo” is short for CIIE in Chinese. The train, which traveled more than 11,000 km over 21 days, is loaded with 76 twenty-foot equivalent units (TEUs) of containers of goods valued at about 100 million yuan (about 14.08 million U.S. dollars), including cosmetics and mechanical equipment.

    MIL OSI China News

  • MIL-OSI United Kingdom: Building economic opportunities in Asia

    Source: Scottish Government

    Extending international business links.

    Scotland’s first Trade Envoy to Japan has been appointed to secure international investment.  

    Stephen Baker will identify new opportunities in Japan’s thriving energy transition, pharmaceuticals, med-tech and food sectors.

    Making this announcement ahead of a trade mission to Singapore and Malaysia, Business Minister Richard Lochhead said:

    “Increasing trade and attracting inward investment are vital components of a thriving, growing economy and the Scottish Government’s clear message is that Scotland is open for business.

    “Scottish businesses already have a strong track record when it comes to exports to the Asian market and attracting inward investment, given Scotland’s position as the UK’s most attractive place for inward investment outside London.

    “This appointment will help Scotland to increase business opportunities with similar Japanese companies and organisations, like Sumitomo’s £350 million investment in a manufacturing plant in Nigg.”

    The Scottish Government’s Trade and Investment Envoy for Japan Stephen Baker said:

    “Japan and the UK share a strong and vibrant partnership, with Scotland taking a leading role in the energy transition. Given Japan’s substantial economy, there are significant opportunities for trade and investment. Now is the perfect time to include Japan in your business strategy and I look forward to maximising the benefits of this global partnership for Scotland.”

    Background

    The unpaid Japan Envoy role will last for an initial two-year term.

    Mr Baker spent 21 years with Sony, before joining Scottish Development International in 2006, initially covering both trade and investment as Japan Country Head, and later as Regional Director for Information and communications technology, Creative Industry, Financial Services, and Global Business Services. Stephen also served as the Asia Pacific Regional Director for Inward Investment into Scotland.

    Mr Lochhead’s trip to Singapore and Kuala Lumpur will take place between 21-24 October. The visit will include meetings with existing and potential investors. Full details on Ministerial travel and engagements are published pro-actively online.

    Sumitomo subsea cabling plant was secured thanks to a £24.5 million investment from the Scottish Government, Highlands and Islands Enterprise and Scottish Enterprise.

    Scottish international export statistics

    MIL OSI United Kingdom

  • MIL-OSI Australia: 223-2024: Scheduled Outage: Thursday 24 October 2024 – DAFF applications

    Source: Australia Government Statements – Agriculture

    21 October 2024

    Who does this notice affect?

    All clients required to use Department of Agriculture, Fisheries and Forestry web-based applications during this planned maintenance period.

    All clients required to use the department’s Biosecurity Import Conditions (BICON) system during this planned maintenance period.

    Information

    Due to scheduled infrastructure maintenance, users of the following systems may experience a brief outage (less than 10 seconds)…

    MIL OSI News

  • MIL-OSI Australia: 224-2024: Scheduled Service Disruption: Friday 25 October to Sunday 27 October 2024 – BICON, DAFF messaging, SeaPest

    Source: Australia Government Statements – Agriculture

    21 October 2024

    Who does this notice affect?

    All clients required to use the department’s Biosecurity Import Conditions System (BICON) during this planned maintenance period.

    All clients submitting the below declarations:

    • Full Import Declaration (FID)
    • Long Form Self Assessed Clearance (LFSAC)
    • Short Form Self Assessed Clearance (SFSAC)
    • Cargo Report Self Assessed Clearance (CRSAC)
    • Cargo Report Personal Effects (PE)

    All…

    MIL OSI News

  • MIL-OSI China: 1st ‘Jinbo’ China-Europe freight train arrives in Shanghai

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

    1st ‘Jinbo’ China-Europe freight train arrives in Shanghai

    Updated: October 21, 2024 09:12 Xinhua
    This year’s first “Jinbo” China-Europe freight train arrives at the Minhang Station in Shanghai, east China, Oct. 20, 2024. The first “Jinbo” China-Europe freight train carrying exhibits for the 7th China International Import Expo (CIIE) arrived at the Minhang Station in Shanghai on Sunday, marking the fourth consecutive year that CIIE exhibition products have been transported to Shanghai via the China-Europe freight train service. “Jinbo” is short for CIIE in Chinese. The train, which traveled more than 11,000 km over 21 days, is loaded with 76 twenty-foot equivalent units (TEUs) of containers of goods valued at about 100 million yuan (about 14.08 million U.S. dollars), including cosmetics and mechanical equipment. [Photo/Xinhua]
    Customs officers check products delivered by this year’s first “Jinbo” China-Europe freight train at the Minhang Station in Shanghai, east China, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows this year’s first “Jinbo” China-Europe freight train pulling in the Minhang Station in Shanghai, east China, Oct. 20, 2024. [Photo/Xinhua]
    This year’s first “Jinbo” China-Europe freight train arrives at the Minhang Station in Shanghai, east China, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows this year’s first “Jinbo” China-Europe freight train pulling in the Minhang Station in Shanghai, east China, Oct. 20, 2024. [Photo/Xinhua]
    This year’s first “Jinbo” China-Europe freight train arrives at the Minhang Station in Shanghai, east China, Oct. 20, 2024. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI Economics: APEC Reinforces Ethical Standards, Drives Global Impact in Health-Related Sectors Lima, Peru | 21 October 2024 APEC Small and Medium Enterprises Working Group Senior stakeholders from across the Asia-Pacific convened in Lima last month to drive action to enhance ethical practices, reinforcing APEC’s leadership in promoting sustainable growth and fair competition for SMEs.

    Source: APEC – Asia Pacific Economic Cooperation

    Dedicated to advancing ethical standards in health-related sectors, senior stakeholders from across the Asia-Pacific convened in Lima last month to drive action to enhance ethical practices, reinforcing APEC’s leadership in promoting sustainable growth and fair competition for small and medium enterprises (SMEs).

    “Ethical business practices are not just about doing the right thing—they are about creating environments where businesses can thrive, where innovation can flourish and where societies can prosper,” said Diane Farrell, Deputy Under Secretary for International Trade at the US Department of Commerce, upon opening the 2024 APEC Business Ethics for Small and Medium Enterprises Forum.

    Endorsed by APEC Small and Medium Enterprises Ministers in 2011 and recognized by APEC Economic Leaders in 2012, the Business Ethics for APEC SMEs Initiative is the world’s largest public-private partnership promoting ethical business practices in health-related sectors. 

    The APEC Kuala Lumpur Principles for medical technology industry and Mexico City Principles for biopharmaceutical industry guide nearly 20,000 enterprises and set a global benchmark for ethical conduct, supported by industry and governments alike.

    “By prioritizing ethical standards, we not only enhance competitiveness but also ensure that small and medium enterprises are well-positioned to thrive in the future economy,” said Aaron Sydor, Chair of the APEC Small and Medium Enterprises Working Group

    “We are also empowering the region’s SMEs with the tools they need to operate with integrity and transparency in an increasingly complex global market,” Sydor added.

    This year’s forum advanced government strategies to encourage ethical practices with Chile announced a pilot program to promote enterprise integrity through public procurement, and Mexico introduced a new partnership to align SMEs with the Kuala Lumpur and the Mexico City principles. 

    The forum also marked the international launch of the US Consensus Framework, expanding ethical standards across the APEC region, as well as the expansion of the Peru Consensus Framework with new public and private signatories, boosting momentum for ethical collaboration in health systems.

    Consensus frameworks are critical to advancing ethical business conduct to support small businesses within health systems and represent each economy’s commitment to strengthening collaboration. This includes adherence to rules within respective health systems and alignment of ethical principles across diverse stakeholders. 

    “When ethical practices are prioritized, patient outcomes improve. This Initiative is crucial in ensuring that ethical considerations are embedded in every aspect of healthcare, ultimately leading to better care for patients across the region,” said David Reddy, director general of the International Federation of Pharmaceutical Manufacturers and Associations.

    The 2024 forum promoted mentorship for medical technology and biopharmaceutical industry associations to embed these principles in their codes of ethics, and for the first time, addressed the role of women’s leadership in this effort.

    “APEC has a unique opportunity to champion ethical leadership that is inclusive and gender balanced. This means not only supporting women in leadership roles but also ensuring that ethical considerations are integrated into all aspects of economic policymaking,” said Dr Rebecca Sta Maria, executive director of the APEC Secretariat.

    The commitments made at the forum will play a pivotal role in shaping health-related sectors globally. APEC’s strong leadership in promoting ethical business practices is crucial to driving sustainable growth and public health, empowering SMEs to thrive in an increasingly complex global market.

    “Effective government strategies serve as a catalyst for ethical transformation across industries, ensuring that businesses are anchored in integrity,” Chris White, general counsel and chief policy officer at the Advanced Medical Technology Association. 

    “By championing ethical practices, including in the public procurement process, governments not only guide businesses but also reinforce the trust that is vital to the broader health ecosystem,” he concluded.

    For more information about the Business Ethics for APEC SMEs Initiative, visit the initiative’s homepage. Stakeholders interested in learning more or getting involved are encouraged to contact the initiative’s stakeholder liaison team at [email protected].

    For further details or to arrange possible media interviews, please contact:

    APEC Media at [email protected]

    MIL OSI Economics

  • MIL-OSI China: China’s new policies spur foreign investor confidence

    Source: China State Council Information Office

    Foreign entrepreneurs are increasingly bullish on the Chinese market, buoyed by recent economic policies aimed at encouraging growth and stability. This heightened optimism was evident at the Annual Conference of Financial Street Forum 2024, held Oct. 18-20 in Beijing.

    Pan Gongsheng, governor of the People’s Bank of China, highlighted the positive reception of these policies at the forum’s opening ceremony on Oct. 18. “Since the implementation of the policy package, we have received positive feedback from home and abroad, effectively boosting social confidence and promoting the stable operation of the economy and financial markets,” Pan said.

    “China’s forward-thinking government policies, such as the recent stimulus package, have demonstrated a commitment to fostering stable and sustainable growth, particularly in key sectors like technology, green energy and healthcare,” said Jack Perry, chairman of the 48 Group and CEO of London Export Corporation, at an afternoon subforum titled “Joint Promoting Enterprise Development with Global Capital Integration.”

    Perry praised China’s leadership, reassuring international investors that China is not only a place of opportunity but also a reliable partner for long-term investment.

    “As the country transitions from an industry-driven to a consumption-driven economy, it opens doors to investors from across the globe,” Perry said.

    He added, “The sheer size of China’s market and its growing middle class of 400 million, which will soon expand to nearly 800 million, offers significant opportunities for international companies to expand their reach.”

    Regarding how China can continue to attract international capital, Perry said the answer lies in creating an inclusive environment for investment.

    “Optimizing regulatory frameworks, strengthening intellectual property protections and fostering transparent communication between foreign and domestic stakeholders are all crucial steps in this process,” Perry said.

    He stressed that international markets stand to gain from Chinese capital just as China benefits from foreign investment. “This two-way exchange strengthens global partnerships and fosters innovation on both sides,” Perry emphasized.

    Shane Tedjarati, vice chairman of Prologis Global, speaks at a subforum titled “Jointly Promoting Enterprise Development with Global Capital Integration,” during the Annual Conference of Financial Street Forum 2024 in Beijing, Oct. 18, 2024. [Photo by Wang Yiming/China.org.cn]

    Shane Tedjarati, vice chairman of Prologis Global, echoed these sentiments. “Today, as we’ve seen over the past 30 years, there’s little debate that China was the priority investment for the whole world,” Tedjarati said, noting that China’s economic trajectory has generated real wealth “not just for China, but for the whole world for three consecutive decades.”

    Despite acknowledging several challenges facing the country, Tedjarati maintained a positive outlook on China’s economic prospects.

    “The theme of this conference, ‘trust and confidence,’ is at the heart of the policies the Chinese government is now taking to confront these challenges head-on,” he explained, adding that early signs of a recovery in consumption were emerging.

    Tedjarati underscored China’s significance as a global manufacturing powerhouse, supported by “an impressive infrastructure with a complete industrial supply chain, highly skilled workers, an extensive supply system and a growing domestic market.”

    One key driver of China’s growth is consumption and the rise of the middle class, Tedjarati said.

    He noted that China has been the main contributor to the creation of the global middle class. “The middle class in China is expected to rise in the next 15 years from about 31% of the world’s total to nearly 40%, making it the world’s largest middle class,” Tedjarati added.

    Tedjarati also highlighted China’s urbanization, noting its distinct and systematic approach to urban planning, which he said bodes well for China’s growth. Additionally, he praised China’s e-commerce infrastructure as “a trailblazer in the world,” a model that few other major economies have been able to replicate.

    Concluding his speech, Tedjarati addressed a question on many minds: “Where is the next China?” His answer was clear and confident: “The next China is still China.”

    MIL OSI China News

  • MIL-OSI Asia-Pac: Speech by SCED at JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund today (October 21):Distinguished guests, ladies and gentlemen,          Good afternoon.     Welcome to the StartmeupHK Festival 2024. It is my pleasure to join you all this afternoon at this first and foremost opening event of the Festival – JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund. The Gala marks the exciting launch of JUMPSTARTER, a global pitch competition organised by the Alibaba Entrepreneurs Fund, alongside the kick-off of the StartmeupHK Festival 2024.     As you all know, this Festival, which is in its ninth year now, has been receiving overwhelming support from the start-up ecosystem in Hong Kong, and serving as a powerful catalyst over time for Hong Kong’s burgeoning start-up ecosystem. The Festival this year, curated by Invest Hong Kong (InvestHK) with the theme “A Future Unlimited”, will bring together many start-ups, investors, industry leaders and tech enthusiasts from around the world, providing an international platform for knowledge exchange, networking and collaboration across various cutting-edge sectors. I can assure you about an exciting series of events in the coming full week of the StartmeupHK Festival.     As for this opening Gala, it marks the start of this year’s JUMPSTARTER, which is a global competition providing invaluable opportunities for entrepreneurs across the globe to gather in Hong Kong, pitch their ideas and business proposals, learn from mentors and investors, and most importantly, pursue their dreams in Hong Kong. I look forward to the enthusiastic participation by contestants from around the world, and wish the competition a great success.     The JUMPSTARTER is just one of the many opportunities offered in Hong Kong as a launch pad for start-ups to be groomed locally and scale globally. Being the only economy in the world where the global advantage and the China advantage come together, Hong Kong continues to maintain our uniqueness as one of the most liberal and easiest places to do business in the world: Hong Kong is once again ranked by the Fraser Institute this year as the freest economy; and we are ranked the third globally as well as the first in the Asia-Pacific region in the recent Global Financial Centres Index report. In addition, Hong Kong remains as the world’s fourth largest recipient of foreign direct investment in 2023 as revealed in the World Investment Report 2024, and continues to attract businesses and investment from around the world.     These impressive achievements are attributed to our institutional strengths, such as a robust common law legal system, an independent judiciary, a simple and low tax system, world-class professional services, start-up-and-business-friendly environment as well as other advantages guaranteed under “one country, two systems”. All of these continue to be the pillars supporting Hong Kong’s success as hubs for start-ups.     In fact, many start-ups fully recognise Hong Kong’s competitive edges. We are home to over 4 200 start-ups, which is a record high, representing a significant increase by 7 per cent year on year. In the first nine months this year, InvestHK has helped 470 overseas and Mainland enterprises to set foot or expand their business here, and over 10 per cent of them are start-ups and scale-ups from different sectors. The above encouraging results are testaments to Hong Kong’s attractiveness.     In the 2024 Policy Address announced last week, the Government has launched new initiatives to further drive economic development, which will benefit all businesses in Hong Kong, including start-ups. For instance, the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) has recently been updated to provide more flexibility and convenience for Hong Kong enterprises to invest and do business on the Mainland. As CEPA measures are nationality neutral, all companies based in Hong Kong can benefit from the latest enhancements. We would encourage more start-ups from around the world to set up their operations in Hong Kong to enjoy these advantages.     On individuals’ level, non-Chinese Hong Kong permanent residents have become eligible for the Mainland travel permit since July this year. This unprecedented measure facilitates their visits to the Mainland for business, leisure or family trips multiple times within a five-year validity period. I note that it has been well received by expatriates in Hong Kong, and encourage our overseas friends in the start-up community to all apply for the permit, if eligible, and enjoy the convenience brought by this initiative.     To facilitate your understanding of the above initiatives and many others, InvestHK, including its global network of Dedicated Teams for Attracting Businesses and Talents based in overseas Economic and Trade Offices, as well as its consultant offices, will continue to render support to you, with a view to facilitating your start-ups to set up and scale up in our city.     Looking forward, Hong Kong’s economic prospects are promising, and the Government will continue to strive to maintain a favourable business environment for start-ups as we always do. I would like to express my heartfelt gratitude to our start-up friends here today for your tremendous support to the Festival and confidence in Hong Kong. I hope you enjoy the Gala event and all the exciting events ahead, exploring collaboration opportunities and experiencing the innovative spirit that defines Hong Kong as a prime destination for start-ups.     Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI: WOO X and OpenTrade enhance yield on RWA vaults through Avalanche integration

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 21, 2024 (GLOBE NEWSWIRE) — WOO X, a leading centralized crypto futures and spot trading platform, has upgraded its RWA flexible term vaults in collaboration with OpenTrade, leveraging OpenTrade’s deployment on Avalanche to enhance its offerings. By utilizing OpenTrade’s platform, WOO X seamlessly integrates and manages RWA-backed yield within its financial products, benefiting from robust off-chain infrastructure and legal expertise.

    The upgraded RWA Flexible Term Vault of WOO X and OpenTrade utilizes Avalanche’s innovative L1s to enhance liquidity and lower transaction costs. This customizable and secure platform streamlines automated processes and reduces operational inefficiencies in traditional asset management, enabling users to manage their investments more effectively. With features like instant redemption and daily compounding, WOO X RWA Flexible Term Vault addresses the growing demand for flexible and stable financial solutions, as tokenized assets are projected to reach $16.1 trillion by 2030.

    “As traditional finance increasingly enters the crypto space, our upgraded RWA flexible term vault on Avalanche is a significant advancement for WOO X. By offering opportunities backed by real-world assets like tokenized Treasury Bills, we enhance liquidity and lower transaction costs, positioning ourselves at the forefront of a trillion-dollar market projected by 2030,” said Willy Chuang, COO of WOO X.

    “The upgraded RWA flexible term vault on Avalanche exemplifies how OpenTrade enables companies like WOO X to offer seamless access to low-risk yields backed by U.S. Treasury Bills, enhancing liquidity and showcasing the utility of RWA solutions in the evolving digital finance landscape,” said David Sutter, CEO of OpenTrade.

    “WOO X and OpenTrade’s initiative underscores Avalanche’s dedication to revolutionizing digital finance. This development empowers users to access innovative financial products and services, taking advantage of the efficiencies and reduced costs enabled by our blockchain technology,” said Eric Kang, BD Manager at Avalanche.

    Unlock Exclusive Rewards with up to 13.75% APR on RWA Products!

    To celebrate this collaboration, WOO X, OpenTrade, and Avalanche are excited to launch a campaign highlighting RWA products! Users can earn a boosted yield of approximately 13.75% APR on our RWA subscription product, offering a secure and user-friendly way to achieve higher returns. This activity will run from October 21, 2024, to January 19, 2025. Click here for more details.

    To learn more about WOO X, download our app or visit WOO X

    Contact us: media@woo.network

    About WOO X

    WOO X is a global centralized crypto futures and spot trading platform offering the best-in-class liquidity and price execution. WOO X has an average daily volume exceeding $600 million and is home to hundreds of thousands of traders worldwide. WOO X traders benefit from radical transparency through our industry-first live Proof of Reserves & liabilities dashboard and the company’s mission to maintain the trust of its growing community of professional traders.

    About OpenTrade

    OpenTrade is an institutional-grade platform for RWA-backed lending and stablecoin yield products. The OpenTrade platform provides FinTechs with a white-label solution that allows them to power USDC and EURC yield products for their users, who can access them with the click of a button, and the security guarantee of a bankruptcy-remote, time-tested legal framework.

    About Avalanche Blockchain Network

    Avalanche is a high-performance blockchain platform designed for builders who need to scale. Engineered with a revolutionary three-part Layer 1 (L1) architecture, Avalanche is anchored by its Avalanche Consensus Mechanism, ensuring near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchain with high throughput on both public and private networks.

    Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralized applications (dApps). With its unique blend of speed, flexibility, and scalability, Avalanche is the preferred choice for innovators pushing the boundaries of blockchain technology.

    For more information, visit avax.network

    The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

    The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a342476e-8b1f-4a2c-a8bb-aa60980d487a

    The MIL Network

  • MIL-OSI Economics: ICC launches pioneering Principles for Sustainable Trade Finance developed with leading trade banks

    Source: International Chamber of Commerce

    Headline: ICC launches pioneering Principles for Sustainable Trade Finance developed with leading trade banks

    Existing sustainable finance frameworks often cannot be easily and objectively applied to many Trade Finance products due to their nature as a ‘flow’ product without delineated projects. The PSTF offer clear, transparent, and consistent guidelines to enable banks, corporates and investors to effectively channel capital towards sustainable and inclusive trade finance facilities while mitigating the risks associated with greenwashing.

    The PSTF contain four distinct sections:

    1. bespoke Principles for Green Trade Finance (PGTF),
    2. ICC guidance on Sustainability Linked Trade Finance,
    3. ICC guidance on Sustainability Linked Supply Chain Finance and
    4. ICC’s ambition for Social Trade Finance.

    Initiating industry-wide consultation

    The launch of the PSTF marks the commencement of an open consultation period. ICC invites all stakeholders within the trade finance industry to review the document and provide comments and feedback. This collaborative approach ensures that the principles are robust, practical, and reflective of the diverse needs and insights of industry participants.

    Following the consultation period, the PSTF will be finalised and officially released later this year, solidifying its role as a cornerstone in promoting sustainable trade finance globally.

    Online event and feedback opportunities

    To facilitate a deeper understanding of the PSTF and encourage active engagement, ICC will host an online launch event on 29 October 2024 at 13:00 CET. This session will feature a comprehensive walkthrough of the principles, followed by a 30-minute Q&A segment. Participants will have the opportunity to engage directly with the authors and contributors of the PSTF, fostering a dialogue that will shape the final version of the document.

    In addition, ICC is launching a survey designed to gather further insights and feedback from industry professionals.

    Engage and participate

    • Register for the online event: To join the online session on Tuesday 29 October, please register via this link.
    • Provide your feedback: Participate in the PSTF survey
    • Contact us: For more information on the Principles for Sustainable Trade Finance or to submit detailed comments, please reach out to:

    ICC would like to thank HSBC, Standard Chartered, Deutsche Bank, Santander, ING, CommerzBank and BCG for their substantial input into the creation of the principles.


    Read more about our work on sustainable trade and sustainable trade finance.

    MIL OSI Economics