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Category: Transport

  • MIL-OSI Asia-Pac: Co-operation with GBA cities secured

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan today outlined a series of measures in the Budget concerning Hong Kong’s collaboration with other cities of the Guangdong – Hong Kong – Macao Greater Bay Area (GBA) on various fronts, including youth development.

    As from this year, the requirements for joining the GBA Youth Employment Scheme has been relaxed so that youngsters aged 29 or below with sub-degree or higher qualifications can join, while the limit of allowance for enterprises has been increased to $12,000 per month per person for up to 18 months.

    With regard to medical co-operation, the Government is seeking to establish the Real-World Study & Application Centre for the GBA Clinical Trial Collaboration Platform by Hong Kong and Shenzhen by the end of this year.

    With the data from the special measure of using Hong Kong registered drugs and medical devices used in Hong Kong public hospitals in the GBA, Mr Chan explained that the aim is to accelerate approval for the registration of new drugs in Hong Kong, the Mainland and overseas, fostering research and development, clinical trials and the application of advanced biomedical technology in Hong Kong.

    On the financial front, following the signing of the Memorandum of Understanding on Cross-Boundary Credit Referencing Pilots between the Monetary Authority and the People’s Bank of China, the Government will progressively expand the pilot coverage to further facilitate cross-boundary financing for enterprises.

    Concerning transport and logistics, Mr Chan pointed out that 21 airlines and 125 logistics companies have participated in the sea air intermodal cargo transshipment mode under the co-operation of Hong Kong and Dongguan.

    It is expected that the first phase construction of the permanent facility for the Phase 1 development of the logistics park in Dongguan will be completed within this year and the preliminary study of Phase 2 development will commence shortly.

    The co-operation with GBA cities covers the construction industry as well. Mr Chan pointed out that in collaboration with Guangdong Province, the Government has successfully established the “Professional Title” evaluation mechanism for the first batch of Hong Kong engineering professionals, with the mechanism to be extended to other construction related professions with the right conditions. 

    The Government will collaborate with Guangdong Province and Macau to formulate GBA standards on the skill levels for skilled workers and technicians of the construction sector, and take forward the “One Examination, Multiple Certification” arrangement.

    The Financial Secretary also mentioned the development of Qianhai, saying that the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone is one of the major co-operation platforms in the bay area.

    “For example, the turnover of Qianhai Mercantile Exchange, a subsidiary of Hong Kong Exchanges & Clearing, exceeded RMB100 billion over the year. It operates our country’s only offshore spot trading platform for soybeans.”

    He added that the Department of Justice collaborated with the relevant Mainland authorities and achieved the extension of the measures, including the one of “allowing Hong Kong invested enterprises to choose Hong Kong as the arbitration place” to other pilot cities in the bay area, thereby providing Hong Kong investors with a more facilitative business environment.

    “Hong Kong will continue to support Qianhai in trying out new policies on a pilot basis and pursuing more policy innovation and breakthroughs, with a view to promoting the successful policies to the rest of the GBA and even the entire country.”

    MIL OSI Asia Pacific News –

  • MIL-OSI: Global Net Lease Announces Sale of Multi-Tenant Portfolio for Approximately $1.8 Billion

    Source: GlobeNewswire (MIL-OSI)

    –  Proposed Transaction Accelerates Deleveraging Plan, Net Debt to Adjusted EBITDA Would be Lowered to 6.5x to 7.1x

    –  The Company Announces Opportunistic $300 Million Share Repurchase Program

    NEW YORK, Feb. 26, 2025 (GLOBE NEWSWIRE) — Global Net Lease, Inc. (“GNL” or the “Company”) today announced that it has entered into a binding agreement to sell its multi-tenant portfolio of 100 non-core properties to a subsidiary of RCG Ventures Holdings, LLC for approximately $1.8 billion (the “multi-tenant portfolio sale”) at an 8.4% cash cap rate¹. This transformative transaction would accelerate GNL’s deleveraging initiative and position the Company as a pure-play, single-tenant net lease company.

    GNL launched its strategic disposition initiative in 2024, with the objectives of significantly reducing debt, enhancing financial flexibility and lowering its cost of capital. Following the completion of the multi-tenant portfolio sale – which would represent the most significant step in this initiative to date – GNL expects to have completed by the end of 2025 nearly $3 billion in dispositions since the start of 2024, inclusive of properties in its disposition pipeline². GNL expects to use the net proceeds from the multi-tenant portfolio sale to significantly reduce the outstanding balance on GNL’s Revolving Credit Facility. The Board of Directors concurrently has approved a share repurchase program authorizing the Company to opportunistically repurchase up to $300 million of its outstanding common stock in accordance with typical practice for such programs.

    “We believe the proposed sale of our multi-tenant portfolio is a strategic and prudent transaction that will bolster our balance sheet and position GNL for continued success,” said Michael Weil, CEO of GNL. “The proposed transaction greatly decreases operational complexities, G&A expenses and capital expenditures associated with multi-tenant retail properties. The announcement marks a pivotal milestone in our strategic disposition initiative, offering a range of benefits with a clear emphasis on long-term value. The transaction reflects a disciplined and measured approach to accelerating debt reduction, driving a significant decrease in Net Debt to Adjusted EBITDA. We believe the resulting improvement in our capital structure strengthens our position to achieve an investment-grade credit rating, which may further reduce our cost of capital and enhance financial flexibility to support long-term growth.”

    Strategic Benefits of the Transaction

    • Significantly Reduces Leverage and Improves Liquidity Position: The transaction would accelerate GNL’s debt reduction efforts, significantly decreasing Net Debt to Adjusted EBITDA to an expected range of 6.5x to 7.1x post-transaction. GNL intends to apply the net proceeds of the multi-tenant portfolio sale toward significantly reducing the outstanding balance on its Revolving Credit Facility. The Company anticipates this substantial deleveraging will enhance GNL’s ability to pursue an investment-grade credit rating, which would further lower our cost of capital and provide the financial flexibility needed to fuel long-term growth.
    • Transforms GNL into a Pure-Play, Single-Tenant Net Lease Company: The transaction would enable GNL to refine its strategy and become a pure-play net lease REIT, concentrating on single-tenant assets. This transition is expected to generate approximately $6.5 million in recurring annual G&A savings, along with additional cash savings from a substantial reduction in annual capital expenditures, while drastically simplifying operations by eliminating the complexities of owning multi-tenant retail properties.
    • Enhances Key Portfolio Metrics: The transaction is expected to positively impact GNL’s key portfolio metrics by boosting occupancy to 98%, extending weighted average remaining lease term to 6.4 years, increasing the proportion of investment-grade tenants to 66% and enhancing annual rent escalations to 89%.

    GNL received a $25 million non-refundable deposit from RCG at signing of the binding agreement. The transaction is expected to close in three phases: the unencumbered portfolio is scheduled to close by the end of Q1 2025, while the encumbered portfolio is set to close in two stages by the end of Q2 2025, pending approval of the respective loan assumptions and other customary closing conditions.

    GNL Announces Authorization of a $300 Million Share Repurchase Program

    On February 20, 2025, GNL’s Board of Directors authorized a share repurchase program for up to an aggregate amount of $300 million of the Company’s outstanding shares of common stock. Under the program, which does not have a stated expiration date, GNL may repurchase shares of its common stock from time to time through open market purchases, including pursuant to Rule 10b5-1 pre-set trading plans and under Rule 10b-18 of the Securities Exchange Act of 1934, as amended, privately negotiated transactions, accelerated share repurchase transactions entered into with one or more counterparties or otherwise, in compliance with applicable securities laws and other legal requirements. The timing, volume, and nature of repurchases are subject to market conditions, applicable securities laws, and other factors, and the program may be amended, suspended or discontinued at any time.

    GNL will share additional insights as part of its 2025 full-year guidance, which will be released after market close on February 27, 2025.

    Advisors

    BofA Securities is serving as GNL’s exclusive financial advisor for the multi-tenant portfolio sale, and BMO Capital Markets is also acting as an advisor to the Company. Paul, Weiss, Rifkind, Wharton & Garrison LLP is providing legal counsel to the Company.

    Truist Securities, Inc. served as a financial advisor to RCG Ventures and provided committed financing for the transaction. McGuireWoods LLP is providing legal counsel to RCG Ventures in respect of real estate acquisition and financing matters and King & Spalding LLP is providing legal counsel to RCG Ventures in respect of fund formation and transaction-related matters. Gibson Avenue Capital, LLC is also serving as an advisor to RCG Ventures.

    Footnotes

    ¹ Cash cap rate is calculated using the trailing twelve months of cash Net Operating Income as of September 30, 2024.

    ² Disposition data as of February 21, 2025, includes transactions that are either closed or are pipeline transactions under agreement or letter of intent, and assumes purchase agreements and letters of intent lead to closing based on their contemplated terms, which cannot be assured.

    About Global Net Lease, Inc.

    Global Net Lease, Inc. is a publicly traded real estate investment trust listed on the NYSE, which focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

    About RCG Ventures

    RCG Ventures is a fully integrated real estate investment firm led by a team of professionals that specialize in the acquisition, development, leasing, management, and financing of multi-tenant retail real estate. Since its inception in 2003, RCG has acquired over $1.6 billion in retail assets and has managed as much as 14 million square feet of retail real estate.

    Important Notice

    The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing of the closing of, and the Company’s ability to consummate, the multi-tenant portfolio sale. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition or disposition (including the multi-tenant portfolio sale) by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in its forward-looking statements are set forth in the Risk Factors and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

    Contacts:
    Investor Relations
    Email: investorrelations@globalnetlease.com
    Phone: (332) 265-2020

    The MIL Network –

  • MIL-OSI: Radware’s Cyber Threat Report: Web DDoS Attacks Surge 550% in 2024

    Source: GlobeNewswire (MIL-OSI)

    MAHWAH, N.J., Feb. 26, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, released its 2025 Global Threat Analysis Report.

    Radware’s new report leverages intelligence provided by 2024 network and application attack activity sourced from the company’s cloud and managed services and threat intelligence research team. In addition, it draws from information found on Telegram, a public messaging platform often used by cybercriminals.

    2024 report highlights

    • The average duration of network DDoS attacks increases 37% over 2023
    • North America faces 66% of web application and API attacks
    • Nearly 400% year-over-year growth in DDoS attack volume strikes finance and transportation
    • Hacktivist claims rise 20% globally; governments top targets

    “Multiple catalysts drove the threat revolution witnessed in 2024, including geopolitical conflicts, bigger and more complex threat surfaces, and more sophisticated and persistent threats,” said Pascal Geenens, director of threat intelligence at Radware. “Add to that the impact of AI, which is lowering barriers to entry, multiplying the number of adversaries and enabling even novice actors to successfully launch malicious campaigns, and what you have is a threat landscape that looks very daunting.”

    Web DDoS attacks mount on geopolitical tensions
    Layer 7 (L7) Web DDoS attacks escalated significantly, linked predominately to hacktivist groups motivated by geopolitical conflicts and facilitated by easy accessibility to more sophisticated tools. During 2024:

    • Number of attacks: Total Web DDoS attacks surged 550% compared to 2023.
    • Geographic targets: EMEA remained the primary target, accounting for 78% of global incidents.

    Network-layer DDoS attacks become bigger and more prolonged
    The volume, frequency and duration of network DDoS attacks more than doubled since 2022. During 2024:

    • Attack volume: The average mitigated attack volume rose 120% compared to 2023.
    • Attack duration: The average duration of attacks increased 37% over 2023.
    • Geographic targets: Organizations in Europe faced the highest proportion of network DDoS activity, accounting for 45% of the global attack volume, followed by North America (21%).
    • Industry targets: Telecommunications bore 43% of the global network DDoS attack volume, followed by finance at 30%. Growing faster than the global average of 120%, finance experienced the steepest growth in attack volume per organization, increasing 393% year-over-year, followed by transportation and logistics (375%), e-commerce (238%), and service providers (237%).

    “The escalations in the threat landscape have significant implications for every sector from finance and telecommunications to government and e-commerce and beyond,” explained Geenens. “Organizations are operating in a dynamic environment that demands equally dynamic defense strategies. While bad actors don’t have to do their jobs perfectly to have a major impact, defenders do.”

    Application-layer DNS DDoS attacks post unprecedented gains
     Last year was a pivotal year in the evolution of L7 DNS DDoS attacks. During 2024:

    • Attack activity: The amount of DNS flood queries rose 87% over 2023.
    • Industry targets: The financial sector accounted for 44% of the total L7 DNS attack activity. Healthcare (13%) ranked second, followed by telecom (10%), and communications (8%).

    Hacktivist campaigns intensify marked by retaliation and disruption
    Propelled by political and ideological tensions, hacktivism remained a leading driver of cyberattacks. According to data gathered from Telegram in 2024:

    • Number of attacks: The total number of claimed DDoS attacks increased by 20% compared to 2023.
    • Geographic targets: Ukraine was the most targeted nation with 2,052 claimed attacks, followed by Israel (1,550). The United States became a prime target for DDoS-as-a-service providers.
    • Industry targets: Government institutions were the top hacktivist targets, accounting for 20% of hacktivist activity, followed by business services (9%), finance (9%) and transportation (7%).
    • Top claiming actors: Pro-Russian hacker NoName057(16), the most prolific threat actor in 2024, claimed 4,767 DDoS attacks, followed by RipperSec (1,388), Executor DDoS (1,002) and the Cyber Army of Russia Reborn (716).

    Web applications and APIs become prime targets for exploitation
     Attackers aim to profit from the expanding complexity and breath of the threat surface in modern organizations by exploiting known vulnerabilities. In 2024:

    • Number of attacks: Web application and API attacks climbed 41% compared to 2023.
    • Attack vector: Vulnerability exploitation remained the most prominent attack type, comprising more than one-third of all malicious requests.
    • Geographic targets: North America experienced 66% of these attacks, followed by EMEA (26%).

    Radware’s complete 2025 Global Threat Analysis Report can be downloaded here.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook,  LinkedIn, Radware Blog, X, YouTube, and Radware Mobile for iOS.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    THIS PRESS RELEASE AND THE RADWARE 2025 GLOBAL THREAT ANALYSIS REPORT ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY. THESE MATERIALS ARE NOT INTENDED TO BE AN INDICATOR OF RADWARE’S BUSINESS PERFORMANCE OR OPERATING RESULTS FOR ANY PRIOR, CURRENT, OR FUTURE PERIOD.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Safe Harbor Statement
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that organizations are operating in a dynamic environment that demands equally dynamic defense strategies, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    Media Contact:
    Gerri Dyrek
    Radware
    Gerri.Dyrek@radware.com

    The MIL Network –

  • MIL-OSI United Kingdom: Trials for contactless ticketing in the North and Midlands takes another step closer

    Source: United Kingdom – Executive Government & Departments

    Press release

    Trials for contactless ticketing in the North and Midlands takes another step closer

    Contactless will offer simpler ticketing and a better experience for rail customers.

    • contactless ticketing is on its way to the North and Midlands with trials later this year 
    • Yorkshire and the East Midlands will be the first to try out the new simpler way to travel 
    • part of wider moves to overhaul the railways to put passenger experience at the forefront

    Plans to trial simpler and more flexible ticketing across the North and Midlands have taken one step closer this week with trials on track for later this year.

    The government is kickstarting the procurement process to find the suppliers who will run the technology for the trials across the East Midlands and Yorkshire. The successful bidders will work alongside Northern and East Midlands Railways to deliver the trials.

    Unlike the previous roll out of pay as you go, these trials will use Global Positioning System (GPS) based technology. This will track your location on your train journey, ensuring you pay the best fare for the journey you take. For ticket inspections and to go through ticket barriers, a unique bar code will pop up in the app to be scanned. 

    The use of contactless ticketing offers passengers simpler, more accessible and more flexible train travel as well as a guarantee of the best value ticket on the day. By saving both time and money on a number of journeys, the trials will help to improve living standards and make working people better off – delivering on the government’s Plan for Change.

    Backed by government funding, the trials are part of plans to modernise our transport system, put passenger experience at the heart of the railways and drive more people back onto trains building on the government’s mission to deliver growth.

    Rail Minister, Lord Peter Hendy, said:

    We’ve seen the success that contactless ticketing has on making journeys easier to navigate and attracting more people to our railways.

    It’s only right that we now look to expand contactless ticketing to other major cities across the North and Midlands, ensuring they can reap the economic benefits that simpler ticketing offers and that passengers are having a better experience.

    Jacqueline Starr, Chief Executive Officer of Rail Delivery Group, said:

    We are proud to support the pay as you go trials in Yorkshire and East Midlands. This is another step in making fares and ticketing easier for everyone.

    We are committed to developing a simpler fare system that not only meets passengers’ expectations but also supports the long-term growth of rail travel making customers experience of the railway better.

    This follows the roll out of contactless ticketing at 53 stations across the South East. In the first 6 months of contactless ticketing being available at the first 6 stations, more than 268,000 entries and exits were made using contactless cards or mobile devices – showing how popular the system is with customers using those stations already. 

    The department is also working closely with Greater Manchester and the West Midlands to develop their proposals for rolling out contactless ticketing even further.

    Alex Hornby, Commercial and Customer Director at Northern, said:

    Historically, ticketing across the rail industry has been far too complicated and so anything that makes the customer experience simpler has my vote.

    We’ve already seen a huge swing away from physical tickets to digital alternatives, which now make up over 80% of journeys on our network. The option to pay as you go is a development of that trend which we’re looking forward to introducing on selected routes very soon.

    Oli Cox, Head of Commercial Strategy and Business Planning at East Midlands Railway, said:

    We’re excited to be trialling digital pay as you go between Derby, Nottingham, and Leicester, making rail travel simpler and more convenient for our customers.

    We know that complex fares can sometimes be a barrier to travel, and this trial will help to remove that uncertainty – allowing customers to simply tap in and out via their phone – confident that they’re getting the best value fare for their journey.

    Last week, the government launched a consultation on a landmark bill to rewire Britain’s railways, including committing to a further overhaul of ticketing and setting up a powerful passenger watchdog to give passengers a voice and hold train operators to account.

    Rail media enquiries

    Media enquiries 0300 7777878

    Switchboard 0300 330 3000

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: TfL Commissioner faces Assembly questions

    Source: Mayor of London

    80% of all trips in London should be made on foot, by cycle or using public transport by 2041. That’s the target in the Mayor’s Transport Strategy which sets out the Mayor of London’s vision for the future of transport in the capital. Will that goal be met?

    Tomorrow, the London Assembly Transport Committee will ask the Deputy Mayor for Transport and the Transport for London (TfL) Commissioner about progress towards meeting the Strategy’s ambitions, the Vision Zero target for no deaths or serious injuries on London’s transport network, bus services, and more.

    The guests are:

    From 10am:

    • Andy Lord, TfL Commissioner
    • Seb Dance, Deputy Mayor for Transport

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: Somalia: Drought, conflict and high food prices risk pushing 4.4 million people into hunger, The Federal Government of Somalia and UN warn

    Source: World Food Programme

    MOGADISHU, Somalia, 26 February 2025 – New data from Somalia shows that 4.4 million people could face hunger by April 2025, driven by worsening drought conditions, conflict and high food prices.

    The Federal Government of Somalia and the United Nations agencies warn that without adequate funding for humanitarian action, the country – which in 2022 was pushed to the brink of famine by severe drought, resulting in thousands of deaths, with nearly half being children – could once again face deepening hunger.  

    Today’s warning from the Somali Disaster Management Agency (SoDMA), the Food and Agriculture Organization of the United Nations (FAO), the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), the United Nations Children’s Fund (UNICEF) and the UN World Food Programme (WFP) comes as the latest Integrated Food Security Phase Classification (IPC) analysis shows that 3.4 million people are already experiencing crisis-levels, or higher, of hunger in Somalia (IPC3+). This number is projected to rise to 4.4 million (23 per cent of the population) between April and June 2025, when below-average Gu rains are forecast.  

    “Worsening drought poses a severe threat to communities already grappling with immense hardship and ongoing conflict. Urgent action is required to save lives, protect livelihoods, and prevent further suffering,” said His Excellency Mohamuud Moallim, Commissioner of the Somali Disaster Management Agency (SoDMA). “This time, we are not only confronting the devastating impacts of drought but also compounding risks, including conflict and an unprecedented decline in humanitarian funding. These overlapping crises demand immediate, collective and well-coordinated action to strengthen Somalia’s resilience and safeguard our most vulnerable communities.” 

    The hardest-hit households include those with low agricultural yields who have depleted their food stocks, internally displaced persons (IDPs), and pastoralists with limited livestock and below-average earnings from livestock sales.

    “Worsening drought, erratic rainfall, and ongoing conflict are eroding livelihoods, pushing families deeper into crisis,” said FAO Somalia Country Representative Etienne Peterschmitt. “FAO is responding by scaling up its support for increased agricultural production, promoting climate-smart solutions, and strengthening resilient agrifood systems. Through early warning systems and anticipatory action, we help communities prepare for shocks before they escalate, mitigating the worst impacts of food crises.”

    Acute funding shortfalls have resulted in life-saving programmes being reduced or cut altogether. The UN is calling for more urgent funding to scale up food assistance, nutrition support, water and sanitation services, as well as livelihood initiatives to mitigate the impacts of the expected drought in Somalia. Today, the 2025 Somalia Humanitarian Needs and Response Plan, calling for US$1.42 billion, is only 12.4 per cent funded. 

    “Recurrent climate shocks, protracted conflict, disease outbreaks and widespread poverty, among other factors, have aggravated the humanitarian crisis in Somalia. Aid agencies are doing their best to save lives, but they urgently need adequate funding to meet the most critical needs at this juncture in Somalia,” said Crispen Rukasha, Head of Office, OCHA Somalia.  

    An estimated 1.7 million children under the age of five face acute malnutrition through December 2025. Of those, 466,000 face severe acute malnutrition – an increase of nine per cent compared to the same period last year. Nearly two-thirds (64 per cent) of the total malnutrition burden is concentrated in southern Somalia, where drought conditions and insecurity are the worst. 

    “Past climate events demonstrate that children are the most affected, facing severe malnourishment and diseases that increase their risk of death and long-term developmental issues,” said Nisar Syed, UNICEF Somalia Representative Officer in Charge. “As prevention is key, UNICEF provides access to clean water and sanitation, provides micronutrients, trains caregivers to identify early signs of malnutrition and operates in remote areas. Given the recurring nature of these crises, we must emphasize a multi-sector approach while working with all stakeholders and the Government to invest in resilience, anticipatory action and a robust health system.” 

    The IPC findings also confirm that erratic rainfall in 2024 led to low crop yields, rapid depletion of pasture and water sources, flooding of food crops, and displacement of hundreds of thousands of people.

    “Recurrent shocks such as droughts are leaving millions of Somalis at risk of hunger as food prices increase and harvests dwindle. Famine was narrowly avoided in 2022 due to large-scale humanitarian support, which is needed again to provide immediate assistance while implementing longer-term solutions. However, funding shortfalls are forcing us to prioritize and reduce assistance at the worst possible time,” said El-Khidir Daloum, WFP’s Country Director in Somalia.  

    MORE INFORMATION

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Govt to foster inclusive society

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan announced today that the Government will increase by 1,000 the number of vouchers under two elderly care service schemes in the next fiscal year.

    Delivering his 2025-26 Budget, Mr Chan said the number of vouchers under the Residential Care Service Voucher Scheme for the Elderly will increase to 6,000 in total, while the total number of vouchers under the Community Care Service Voucher Scheme for the Elderly will rise to 12,000.

    The two schemes will involve annual expenditure of about $1,710 million and $900 million respectively.

    Noting that the Mandatory Reporting of Child Abuse Ordinance will come into effect next January, Mr Chan said the Government will provide an additional $186 million annually to increase emergency places for residential childcare and strengthen professional support for child abuse victims and their families.

    The Government will also support people with disabilities by setting up 14 Integrated Community Rehabilitation Centres across the city in phases to provide those who require medium to high level care with flexible and integrated community support services through a case management approach.

    In addition, 1,280 additional day community rehabilitation and home care service places will be provided for people with disabilities, involving about $160 million in additional annual expenditure.

    Mr Chan added that starting from the third quarter, the Government will regularise the Pilot Project on Enhancing Vocational Rehabilitation Services to provide training to people with disabilities, with an annual expenditure of about $100 million, benefitting some 10,000 people.

    On women’s development, the finance chief said a two‑year pilot mentorship programme will be launched, pairing female university students with female mentors to promote women’s workplace development.

    Mr Chan also outlined that the Government is progressively implementing and completing the 16 works projects, entailing total expenditure of about $190 billion, under the First Hospital Development Plan.

    He said the Government will review the distribution, scale and priority of projects under the Second Hospital Development Plan.

    Furthermore, the outcome of a review on the structure and levels of subsidisation for public healthcare will be announced this year.

    Separately, the Financial Secretary acknowledged public concerns about the problem of illegal basketball betting in Hong Kong in recent years, adding the that turnover of illegal basketball betting reached $70 to $90 billion last year according to the Jockey Club’s latest assessment.

    He said the Government will explore regulating basketball betting activities and invite the Jockey Club to submit a proposal.

    MIL OSI Asia Pacific News –

  • MIL-OSI: 5/2025・Trifork Group AG – Reporting of transactions made by persons discharging managerial responsibilities

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 5 / 2025
    Schindellegi, Switzerland – 26 February 2025


    Reporting of transactions made by persons discharging managerial responsibilities

    Pursuant to the Market Abuse Regulation Article 19, Trifork Group AG (Swiss company registration number CHE-474.101.854) (“Trifork”) hereby notifies receipt of information of the following transactions made by persons discharging managerial responsibilities in Trifork in connection with fixed salaries paid in shares. Reference is made to company announcement no. 1/2025 on 21 January 2025.

    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Jørn Larsen
    2. Reason for the notification
    a) Position/status CEO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction A share of 25% of the fixed monthly salary is paid out in shares as described in the company announcement no. 1/2025.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 1’345
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 26 February 2025
    f) Place of the transaction Outside a trading venue
    1. Details of the person discharging managerial responsibilities/person closely associated
    a) Name Kristian Wulf-Andersen
    2. Reason for the notification
    a) Position/status CFO
    b) Initial notification/
    Amendment    		 Initial notification
    3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a) Name Trifork Group AG
    b) LEI 8945004BYZKXPESTBL36
    4.1 Details of the transaction(s)
    a) Description of the financial instrument, type of instrument

    Identification code

    		 Shares

    ISIN CH1111227810
    b) Nature of the transaction A share of 10% of the fixed monthly salary is paid out in shares as described in the company announcement no. 1/2025.
    c) Price(s) and volume(s) Price(s) Volume(s)
    DKK 0 358
    d) Aggregated information
    —
    Aggregated volume —
    Price    		 N/A
    e) Date of the transaction 26 February 2025
    f) Place of the transaction Outside a trading venue


    Information and questions
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17


    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,278 professionals across 76 business units in 15 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – JOHN WOOD GROUP PLC – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 John Wood Group PLC  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 25 February 2025  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 N/A  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 4 2/7 p ordinary (GB00B5N0P849)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 21,347,049 3.09 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 21,347,049 * 3.09 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 65,254 shares that are included in the total above.  
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
             
    There was a Transfer In of 614 shares of 4 2/7 p ordinary  
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 26 February 2025  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI United Kingdom: UKIFS seeks exceptional talent to shape the future of fusion

    Source: United Kingdom – Executive Government & Departments

    Press release

    UKIFS seeks exceptional talent to shape the future of fusion

    UKIFS launches search for exceptional talent to shape the future of fusion energy

    Image credit: UK Industrial Fusion Solutions

    UK Industrial Fusion Solutions (UKIFS), the organisation responsible for delivering the STEP (Spherical Tokamak for Energy Production) programme, is excited to launch the recruitment process for seven senior technical roles that are central to the future success of the programme. 

    The positions we’re recruiting are:  

    • Deputy Chief Engineer 
    • Head of Tokamak Machine 
    • Design Chief Architect Engineer 
    • Head of Engineering Assurance 
    • Head of Whole Plant Performance 
    • Head of Engineering – Fuel Cycle 
    • Head of Engineering – Power & Cooling 

    The people appointed to these roles will be key to the successful delivery of the technical programme, adding significant weight to the senior leadership team within the programme.  

    STEP is the programme to deliver the UK’s first prototype fusion energy plant, targeting 2040 and a path to the commercial viability of fusion, as a safe, low-carbon and near-limitless energy source. The key objectives of the programme are to demonstrate net energy production from fusion as well as fuel self-sufficiency and a route to plant maintenance for future fusion power plants.  

    This recruitment drive marks the beginning of a significant expansion of roles across the programme, with many more expected through the year. 

    All positions can be based at either Culham Campus in Oxfordshire, or the West Burton site in Nottinghamshire. 

    Paul Methven – CEO of UKIFS and Senior Responsible Officer for STEP said: 

    UKIFS is a new and exciting organisation, working to prove that fusion energy can make a meaningful difference to address climate change and energy security, by delivering net energy. This is a project that really could change the world, place the UK in the lead of a key global technology and generate real economic value for the country. 

    We are very excited to be launching our search for these roles, which are fundamental to the technical success of the project and are looking forward to receiving applications from people working in these areas of engineering, not only those in fusion but across adjacent industries. 

    We’d love you to join us.

    About UK Industrial Fusion Solutions Ltd   

    UK Industrial Fusion Solutions Ltd (UKIFS) is a wholly owned subsidiary of the UK Atomic Energy Authority (UKAEA) Group, responsible for the STEP (Spherical Tokamak for Energy Production) programme to deliver the UK’s prototype fusion energy plant.  

    Targeting first operations in 2040, UKIFS will lead STEP’s integrated delivery team to design and build the prototype fusion energy plant at West Burton, a former coal-fired power station site in Nottinghamshire.

    To sign-up for updates about STEP, visit: step.ukaea.uk or follow our social channels @STEPtoFusion.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: North Macedonia: Staff Concluding Statement of the 2025 Article IV Mission

    Source: International Monetary Fund

    February 26, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Growth is gaining momentum amid rising risks

    Growth is gaining momentum. After picking up in early 2024, growth is expected at 3.3 percent in 2025, driven by stronger domestic demand as public investment projects (including the Corridor 8/10d road project) intensify and consumption is supported by government transfers and real wage growth. The impact of weak external demand seen in 2024 is expected to persist in 2025, driven by structural shifts in the European automotive sector. In the long term, high emigration, especially among the young segment of the population, is projected to lower potential growth, which Staff now estimate at 3.0 percent.

    Inflation is rising again. In January, inflation reached 4.9 percent year-on-year, up from a low of 2.2 percent in August 2024. Core inflation has become the main driver and remains persistent, fueled by strong wage growth. Food inflation remains high despite administrative price controls and other interventions.

    Domestic risks are elevated and the external outlook more uncertain. Weak public investment, stalled productivity reforms, emigration, and slowing activity of key trade partners threaten growth in the medium-term. Meanwhile, high real wage growth without productivity gains and increased fiscal transfers could further fuel inflation and erode competitiveness. Trade policy shifts and shocks to FDI may suppress exports and tighten financial conditions.

    Adhering to the fiscal rules requires credible fiscal consolidation

    IMF staff agree with the authorities’ goal of reducing the deficit this year, but are concerned revenue will underperform, rendering this goal out of reach. The 4 percent of GDP deficit envisaged in the 2025 budget will be exceeded if the authorities’ expected revenue gains (of 1½ percent of GDP) from reducing the shadow economy and increasing tax compliance fall short. We welcome the Public Revenue Office’s efforts to modernize tax collection and reduce informality, but these efforts will take time to deliver results. Staff recommends that in any planned supplementary budget, the authorities avoid increasing spending and focus on reducing tax expenditures and transfers (e.g., subsidies to agriculture). Ensuring the full and timely transfer of contributions to the second-pillar pension system is essential.

    A credible fiscal strategy is needed to bring debt on a downward path. The budget deficit has exceeded the 3 percent of GDP ceiling in the fiscal rules, while public debt is on an upward trend and has surpassed 60 percent of GDP in 2024—14 percentage points above pre-pandemic levels. A credible fiscal strategy to restore compliance with fiscal rules is key, for preserving credibility to maintain access to international capital markets, for creating space for investment, and strengthening resilience against future shocks. The focus should be on:

    • Controlling current spending:Staff recommend omitting further pension increases in September 2025 and returning to a rule-based pension system in 2026—indexing only to inflation—to support consolidation while protecting pensioners’ purchasing power. Staff advise limiting public wage growth to inflation in the near term. The Ministry of Finance should strengthen oversight to ensure public wage increases are consistent with achieving the fiscal rules. Over time, unifying the fragmented wage negotiating system will help prevent unexpected budget pressures.
    • Mobilizing revenues. North Macedonia’s tax revenue potential is estimated at 22-24 percent of GDP. To realize these revenues, tax reforms should focus on reducing tax expenditures, limiting reduced rates and exemptions, improving tax compliance, and gradually increasing property tax. The government’s accelerated digitalization efforts will enhance revenue mobilization.

    Beyond consolidation, structural fiscal reforms are needed to strengthen fiscal governance and improve spending efficiency, with some progress underway. Key ongoing measures include implementing the Public Investment Management decree and manual, adopting the PPP law, and conducting spending reviews to optimize budget allocation. Managing fiscal risks, especially from SOEs and major projects like the Corridor 8/10d road, is crucial. The inclusion of a fiscal risk assessment in the Medium Term Fiscal Strategy marks an achievement for the ministry. The state-owned electricity generator, ESM, requires investments in technology and efficiency improvements to lower production costs and expand production, while gradually reducing its role in the subsidized, regulated market. The operationalization of the Fiscal Council is a positive step and it is encouraged to strengthen its independent assessments.

    Monetary and financial sector policies to maintain stability and mitigate risks

    Policy rates should remain on hold and liquidity tools warrant further tightening until inflation steadily declines. Robust reserves accumulation in 2024 has fostered stability in the foreign exchange market. Given the renewed acceleration in both headline and core inflation, the National Bank (NBRNM) should remain on hold until there is clear evidence of sustained disinflation. Staff support the changes in reserve requirements implemented by the NBRNM and advise further tightening to absorb excess liquidity. The NBRNM should remain vigilant to inflationary risks from domestic factors, including wage and pension increases, as well as heightened external risks from trade uncertainties. If these risks materialize, the NBRNM should be prepared to tighten further to prevent inflation from becoming entrenched. The NBRNM has effectively managed recent challenges, including the energy cost shock. Its resilience stems from operational and financial autonomy, which underpin its independence and credibility—both essential for maintaining price and exchange rate stability and must be safeguarded.

    The financial system remains resilient, but macro prudential settings may need to be tightened in response to brisk credit growth. Overall, the banking sector is well-capitalized, highly liquid, and profitable, with low system-wide non-performing loans. NBRNM’s active macroprudential and microprudential measures have strengthened resilience. Strong balance sheets and increased deposits have fueled an acceleration in lending activity towards the end of 2024. The implemented loan-to-value and debt service-to-income ratios will continue to help safeguard financial stability by reducing pressures in the real estate market and preventing higher levels of indebtedness. Staff support the NBRNM’s gradual tightening of the countercyclical capital buffer and additional capital requirements to ensure banks maintain adequate loss-absorbing and recapitalization capacity, in line with EU regulations. Should lending and real estate prices continue growing briskly, further tightening of macroprudential instruments may be warranted.

    Structural reforms to boost productivity and offset costs of emigration

    IMF staff support the authorities’ objectives of boosting productivity, raising living standards, and reducing informality. Over the past decade, growth in North Macedonia has lagged regional peers and convergence with the EU has stalled. High emigration has led to a declining population that threatens to be a drag on potential growth. Accelerating structural reforms is key to achieving the authorities’ objectives, offsetting the costs of emigration, and supporting the country on its path to EU accession. The priorities are well known:

    • Improving the business environment. Reducing informality through streamlined business registrations and expanded digital public services is a priority. The predictability of the legal and regulatory environment can be improved by limiting the use of expedited procedures in Parliament, increasing stakeholder consultation, and applying the regulatory requirements more consistently. Simplifying and digitalizing work permits would help businesses address skill and labor shortages more efficiently. Avoiding ad-hoc adjustments to the minimum wage will help contain inflation, preserve competitiveness and provide a more predictable policy environment for business.
    • Strengthening the labor market. Improving labor market outcomes can stimulate private investment, increase labor participation, and reduce emigration. Raising educational quality and job matching between firms and workers through vocational training will help address labor shortages. Expanding affordable childcare in municipalities, and gradually raising the retirement age of women to match men can help to offset workforce losses from high emigration.
    • Increasing public infrastructure investment. The quality of public infrastructure in North Macedonia lags peers. The major infrastructure projects Corridor 8/10d and the Kicevo-Ohrid highways are over budget and behind schedule. Staff urge the authorities to complete the started projects and realize their investments. Capital expenditures should be safeguarded in the budget and public investment management should be strengthened to prioritize high-impact projects.
    • Strengthening the rule of law and anti-corruption efforts. Improving judicial independence and impartiality would strengthen contract enforcement and help reduce informality. The fight against corruption remains weak, particularly in prosecuting high-profile cases. Aligning the Criminal Code with international standards and enhancing resources for key anti-corruption institutions are crucial. The upcoming new national anti-corruption strategy is an opportunity to accelerate reforms through stronger accountability and coordination.
    • Enhancing governance.Improving public resource efficiency, accountability, and transparency requires expanding digital public services, reassessing state aid schemes, strengthening procurement systems, and improving SOE management.

    The IMF team thanks the authorities of North Macedonia and other counterparts for their productive collaboration and constructive policy dialogue.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva Graf

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI Russia: North Macedonia: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    February 26, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Growth is gaining momentum amid rising risks

    Growth is gaining momentum. After picking up in early 2024, growth is expected at 3.3 percent in 2025, driven by stronger domestic demand as public investment projects (including the Corridor 8/10d road project) intensify and consumption is supported by government transfers and real wage growth. The impact of weak external demand seen in 2024 is expected to persist in 2025, driven by structural shifts in the European automotive sector. In the long term, high emigration, especially among the young segment of the population, is projected to lower potential growth, which Staff now estimate at 3.0 percent.

    Inflation is rising again. In January, inflation reached 4.9 percent year-on-year, up from a low of 2.2 percent in August 2024. Core inflation has become the main driver and remains persistent, fueled by strong wage growth. Food inflation remains high despite administrative price controls and other interventions.

    Domestic risks are elevated and the external outlook more uncertain. Weak public investment, stalled productivity reforms, emigration, and slowing activity of key trade partners threaten growth in the medium-term. Meanwhile, high real wage growth without productivity gains and increased fiscal transfers could further fuel inflation and erode competitiveness. Trade policy shifts and shocks to FDI may suppress exports and tighten financial conditions.

    Adhering to the fiscal rules requires credible fiscal consolidation

    IMF staff agree with the authorities’ goal of reducing the deficit this year, but are concerned revenue will underperform, rendering this goal out of reach. The 4 percent of GDP deficit envisaged in the 2025 budget will be exceeded if the authorities’ expected revenue gains (of 1½ percent of GDP) from reducing the shadow economy and increasing tax compliance fall short. We welcome the Public Revenue Office’s efforts to modernize tax collection and reduce informality, but these efforts will take time to deliver results. Staff recommends that in any planned supplementary budget, the authorities avoid increasing spending and focus on reducing tax expenditures and transfers (e.g., subsidies to agriculture). Ensuring the full and timely transfer of contributions to the second-pillar pension system is essential.

    A credible fiscal strategy is needed to bring debt on a downward path. The budget deficit has exceeded the 3 percent of GDP ceiling in the fiscal rules, while public debt is on an upward trend and has surpassed 60 percent of GDP in 2024—14 percentage points above pre-pandemic levels. A credible fiscal strategy to restore compliance with fiscal rules is key, for preserving credibility to maintain access to international capital markets, for creating space for investment, and strengthening resilience against future shocks. The focus should be on:

    • Controlling current spending:Staff recommend omitting further pension increases in September 2025 and returning to a rule-based pension system in 2026—indexing only to inflation—to support consolidation while protecting pensioners’ purchasing power. Staff advise limiting public wage growth to inflation in the near term. The Ministry of Finance should strengthen oversight to ensure public wage increases are consistent with achieving the fiscal rules. Over time, unifying the fragmented wage negotiating system will help prevent unexpected budget pressures.
    • Mobilizing revenues. North Macedonia’s tax revenue potential is estimated at 22-24 percent of GDP. To realize these revenues, tax reforms should focus on reducing tax expenditures, limiting reduced rates and exemptions, improving tax compliance, and gradually increasing property tax. The government’s accelerated digitalization efforts will enhance revenue mobilization.

    Beyond consolidation, structural fiscal reforms are needed to strengthen fiscal governance and improve spending efficiency, with some progress underway. Key ongoing measures include implementing the Public Investment Management decree and manual, adopting the PPP law, and conducting spending reviews to optimize budget allocation. Managing fiscal risks, especially from SOEs and major projects like the Corridor 8/10d road, is crucial. The inclusion of a fiscal risk assessment in the Medium Term Fiscal Strategy marks an achievement for the ministry. The state-owned electricity generator, ESM, requires investments in technology and efficiency improvements to lower production costs and expand production, while gradually reducing its role in the subsidized, regulated market. The operationalization of the Fiscal Council is a positive step and it is encouraged to strengthen its independent assessments.

    Monetary and financial sector policies to maintain stability and mitigate risks

    Policy rates should remain on hold and liquidity tools warrant further tightening until inflation steadily declines. Robust reserves accumulation in 2024 has fostered stability in the foreign exchange market. Given the renewed acceleration in both headline and core inflation, the National Bank (NBRNM) should remain on hold until there is clear evidence of sustained disinflation. Staff support the changes in reserve requirements implemented by the NBRNM and advise further tightening to absorb excess liquidity. The NBRNM should remain vigilant to inflationary risks from domestic factors, including wage and pension increases, as well as heightened external risks from trade uncertainties. If these risks materialize, the NBRNM should be prepared to tighten further to prevent inflation from becoming entrenched. The NBRNM has effectively managed recent challenges, including the energy cost shock. Its resilience stems from operational and financial autonomy, which underpin its independence and credibility—both essential for maintaining price and exchange rate stability and must be safeguarded.

    The financial system remains resilient, but macro prudential settings may need to be tightened in response to brisk credit growth. Overall, the banking sector is well-capitalized, highly liquid, and profitable, with low system-wide non-performing loans. NBRNM’s active macroprudential and microprudential measures have strengthened resilience. Strong balance sheets and increased deposits have fueled an acceleration in lending activity towards the end of 2024. The implemented loan-to-value and debt service-to-income ratios will continue to help safeguard financial stability by reducing pressures in the real estate market and preventing higher levels of indebtedness. Staff support the NBRNM’s gradual tightening of the countercyclical capital buffer and additional capital requirements to ensure banks maintain adequate loss-absorbing and recapitalization capacity, in line with EU regulations. Should lending and real estate prices continue growing briskly, further tightening of macroprudential instruments may be warranted.

    Structural reforms to boost productivity and offset costs of emigration

    IMF staff support the authorities’ objectives of boosting productivity, raising living standards, and reducing informality. Over the past decade, growth in North Macedonia has lagged regional peers and convergence with the EU has stalled. High emigration has led to a declining population that threatens to be a drag on potential growth. Accelerating structural reforms is key to achieving the authorities’ objectives, offsetting the costs of emigration, and supporting the country on its path to EU accession. The priorities are well known:

    • Improving the business environment. Reducing informality through streamlined business registrations and expanded digital public services is a priority. The predictability of the legal and regulatory environment can be improved by limiting the use of expedited procedures in Parliament, increasing stakeholder consultation, and applying the regulatory requirements more consistently. Simplifying and digitalizing work permits would help businesses address skill and labor shortages more efficiently. Avoiding ad-hoc adjustments to the minimum wage will help contain inflation, preserve competitiveness and provide a more predictable policy environment for business.
    • Strengthening the labor market. Improving labor market outcomes can stimulate private investment, increase labor participation, and reduce emigration. Raising educational quality and job matching between firms and workers through vocational training will help address labor shortages. Expanding affordable childcare in municipalities, and gradually raising the retirement age of women to match men can help to offset workforce losses from high emigration.
    • Increasing public infrastructure investment. The quality of public infrastructure in North Macedonia lags peers. The major infrastructure projects Corridor 8/10d and the Kicevo-Ohrid highways are over budget and behind schedule. Staff urge the authorities to complete the started projects and realize their investments. Capital expenditures should be safeguarded in the budget and public investment management should be strengthened to prioritize high-impact projects.
    • Strengthening the rule of law and anti-corruption efforts. Improving judicial independence and impartiality would strengthen contract enforcement and help reduce informality. The fight against corruption remains weak, particularly in prosecuting high-profile cases. Aligning the Criminal Code with international standards and enhancing resources for key anti-corruption institutions are crucial. The upcoming new national anti-corruption strategy is an opportunity to accelerate reforms through stronger accountability and coordination.
    • Enhancing governance.Improving public resource efficiency, accountability, and transparency requires expanding digital public services, reassessing state aid schemes, strengthening procurement systems, and improving SOE management.

    The IMF team thanks the authorities of North Macedonia and other counterparts for their productive collaboration and constructive policy dialogue.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva Graf

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/02/26/cs-northmacedonia-2025

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Govt forecasts $67b deficit

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan revealed in today’s Budget that total government revenue for 2025-26 is projected to be $659.4 billion, while total government expenditure will be $822.3 billion.

    Taking into account bond issuance of about $150 billion and repayments of about $54.1 billion, a deficit of $67 billion is expected.

    The fiscal reserve will decrease to $580.3 billion.

    Public finances

    Expounding on the Government’s fiscal position in his Budget speech, Mr Chan said government revenue and government expenditure are broadly reflected in the Operating Account and the Capital Account.

    Revenue in the Operating Account mainly comes from tax revenue, investment income, and government fees and charges. Meanwhile, expenditure is largely attributable to the Government’s daily expenses.

    The Capital Account’s revenue is mainly land-related, while its expenditure largely involves infrastructure works projects and land acquisition.

    The finance chief stressed that the Operating Account should be managed on the basis of keeping expenditure within the limits of revenues, with the target of achieving a surplus.

    “As for the Capital Account, expenditure on infrastructure works is our investment for the future. For instance, the Northern Metropolis development, which will bring economic and social benefits upon completion, has to be taken forward to meet the needs for social and economic development.

    “However, as revenue is susceptible to economic cycles, there may be a shortfall between revenue and expenditure. Under such circumstances, we can utilise the surplus in the Operating Account or our fiscal reserves as support, or make flexible use of market resources, including various forms of public private partnership and bond issuance.”

    Revised estimates for 2024-25

    The Financial Secretary reported that the 2024-25 revised estimate of total government revenue is $559.6 billion, lower than the original estimate by 11.6%.

    Revenues from profits tax and salaries tax remained stable at $177.7 billion and $88 billion respectively, with these figures comparable to the original estimates.

    Mr Chan emphasised that the incomes from profits tax and salaries tax demonstrate the strong resilience of Hong Kong’s economy.

    However, as the asset market is under pressure, government revenues from land premiums and stamp duties have declined. Revenue from land premiums is $13.5 billion, substantially lower than the original estimate by $19.5 billion. Revenue from stamp duties of $58 billion is lower than the original estimate by $13 billion.

    The revised estimate of total government expenditure for 2024-25 is $754.8 billion, lower than the original estimate by $22.1 billion. Of this, recurrent expenditure is $562.5 billion, lower than the original estimate by $17.7 billion.

    Taking into account the issuance of government bonds of $130 billion and repayments of $22.1 billion, the finance chief expects that there will be a consolidated deficit of $87.2 billion for 2024-25.

    Fiscal reserves are expected to be $647.3 billion by 31 March.

    Estimates for 2025-26

    Looking ahead to 2025-26, the Financial Secretary outlined that the Government will continue to allocate resources towards consolidating momentum on economic growth, promoting the accelerated development of the information and technology industries, and enhancing public services.

    “We will also increase capital works expenditure to cater for the Northern Metropolis and other public works projects relating to the economy and people’s livelihood, so as to support the sustained economic development of Hong Kong.”

    In his Budget speech, Mr Chan announced that total government expenditure for 2025-26 will grow by 8.9% to $822.3 billion, with its ratio to nominal gross domestic product projected to be 24.4%.

    Recurrent expenditure for 2025-26 will rise 4.5% to $588.1 billion.

    “Of this, substantial resources will still be allocated to livelihood-related policy areas including healthcare, social welfare and education, involving a total of $348.6 billion, representing about 60% of recurrent expenditure.”

    Non-recurrent expenditure will decrease by 3.4% to $36.1 billion.

    He also announced that total government revenue for 2025-26 is estimated to be $659.4 billion, while revenue from earnings and profits tax are estimated to be $301.2 billion, an increase of 8.4% over the revised estimate for 2024-25.

    Revenue from land premiums is estimated to be $21 billion, a 55.3% jump over the revised estimate for 2024-25. Revenue from stamp duties is estimated to be $67.6 billion, a 16.5% increase over the revised estimate for 2024-25. In addition, the Government will bring back about $62 billion from six endowment funds established outside the government accounts.

    Looking ahead, Mr Chan said: “We forecast that the Operating Account will largely achieve balance in 2025-26, and return to a surplus starting from 2026-27.”

    The Capital Account is estimated to record a deficit in the Medium Range Forecast period due to the Northern Metropolis’ accelerated development and other public works projects, he added.

    “Nevertheless, the level of deficit will decline year on year from 2026-27 onwards.”

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: RSH publishes regulatory judgements for 11 social landlords

    Source: United Kingdom – Executive Government & Departments

    Press release

    RSH publishes regulatory judgements for 11 social landlords

    The Regulator of Social Housing has today published regulatory judgements for 11 social landlords. 

    ForHousing has been upgraded from G3 to G2 following a period of intensive engagement. The landlord has delivered an agreed improvement plan, including significant restructuring that involved removing an unregistered parent and disposal of its interest in another unregistered company that was part of the same parent group.   

    It has strengthened its control framework and improved its oversight of strategic risks. The board has been able to evidence that it has full, independent control over decisions that impact its outcomes.  

    ForHousing needs to continue to make improvements in its governance and risk management as it reviews the effectiveness of the changes it has made.  

    Two landlords, West Lancashire Borough Council and City of Westminster Council, received C1 gradings. This means that overall they are delivering the outcomes of the consumer standards and they have demonstrated that they identify when issues occur and put plans in place to remedy and minimise recurrence.  

    The London Borough of Wandsworth, Central Bedfordshire Council, and Anchor Hanover Group failed to meet the outcomes of RSH’s consumer standards and received C3 gradings.  

    During a planned inspection of the London Borough of Wandsworth, RSH found:  

    • Around 40% of homes and almost 80% of communal areas had not had an electrical safety test.  
    • Almost 1,800 overdue fire safety remedial actions, all of which were more than 12 months overdue.  
    • Only 6.5% of its 17,000 total homes had been surveyed in the last ten years  
    • Weaknesses in how tenants’ views are taken into account in decision making.  

    During an inspection of Central Bedfordshire Council, RSH found:  

    • More than 1,800 overdue repairs orders.  
    • More than 300 outstanding fire safety actions arising from fire risk assessments had not been tracked by age or prioritised by urgency.  
    • No tracking, monitoring, or reporting of the number and age of damp and mould cases.  
    • A limited range of opportunities for tenants to scrutinise their landlord’s performance and influence how its housing services are delivered  

    Following responsive engagement with Anchor Hanover Group, RSH found:  

    • Over a third of its homes did not have a current satisfactory electrical safety inspection report  
    • A significant backlog of electrical remedial actions 
    • Incomplete and unreliable information available on the presence of damp and mould 
    • Weaknesses across landlord health and safety, including fire safety and water hygiene 

    RSH has also placed Anchor Hanover Group on its gradings under review list. RSH is currently investigating matters which may impact on whether the landlord continues to meet the governance elements of the Governance and Financial Viability Standard.  

    RSH is engaging intensively with all three social landlords as they work to address the issues identified in each of the cases.  

    Mansfield District Council and Waverley Borough Council received C2 gradings.   

    RSH also published regulatory judgements for three further landlords following stability checks.  

    Peabody Trust and One Manchester retained their current G1/V2 gradings, while Bolton at Home retained its G2/V2 gradings.  

    Kate Dodsworth, Chief of Regulatory Engagement at RSH, said:  

    “As we approach the end of the first year of our programmed inspections, we are continuing to see a broad spectrum of gradings – though it is still too early to draw concrete trends. 

    “While our engagement is the most intensive with landlords that fail to meet the outcomes of our standards, even landlords that receive a C1 grading have room for improvement.   

    “Along with our consumer regulation, our scrutiny of governance and financial viability remains as important as ever. Landlords must have rigorous oversight of strategic risk and continue to stress test their financial plans. Without strong governance, landlords will not be able to deliver more and better social homes for tenants.   

    “We can confirm that we have placed Anchor Hanover Group on the gradings under review list. The outcome of the investigation will be confirmed in a regulatory judgement, once completed.”

    All the judgements published today can be found on the Regulatory Judgements and Enforcement Notices page.

    Notes to Editors  

    1. On 1 April 2024 RSH introduced new consumer standards for social housing landlords, designed to drive long-term improvements in the sector. It also began a programme of inspections for all large social landlords (those with over 1,000 homes) over a four-year cycle. The changes are a result of the Social Housing Regulation Act 2023 and include stronger powers to hold landlords to account. More information about RSH’s approach is available in its document Reshaping Consumer Regulation.  

    2. RSH carries out stability checks on all housing associations, and other private registered providers, who own 1,000 homes or more. The stability checks are a yearly exercise. We look at the financial information landlords have submitted to us (including their most recent business plan and annual accounts) and consider if there are any risks which might result in a change to their financial viability or governance gradings.  The checks do not include local authorities because our governance and financial viability standard does not apply to them.  

    3. More information about RSH’s responsive engagement, programmed inspections and consumer gradings is also available on its website.  

    4. RSH promotes a viable, efficient and well-governed social housing sector able to deliver more and better social homes. It does this by setting standards and carrying out robust regulation focusing on driving improvement in social landlords, including local authorities, and ensuring that housing associations are well-governed, financially viable and offer value for money. It takes appropriate action if the outcomes of the standards are not being delivered.

    5. For general enquiries email enquiries@rsh.gov.uk. For media enquiries please see our Media Enquiries page.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Rosneft Winter Sports Games Start in Krasnoyarsk

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    The 13th Rosneft Winter Sports Games have opened in Krasnoyarsk. From February 25 to March 2, about 650 oil industry athletes from 41 teams of the Company’s subsidiaries will compete in winter sports such as hockey, cross-country skiing and biathlon. Men’s and women’s distances, as well as a relay race, are provided for skiers.

    The opening ceremony of the Winter Games was attended by Russian sports stars. The athletes were greeted by Olympic relay champion, skier Denis Spetsov and leading players of the CSKA hockey club.

    Rosneft’s summer and winter sports games bring together thousands of oil industry athletes every year. The first sports competitions were held in 2005 and have since become part of the Company’s corporate culture. The winter games are a shining example of effective promotion of a healthy lifestyle, strengthening the spirit of camaraderie, supporting mass sports and good traditions.

    Sports development is one of the main areas of Rosneft’s social policy. The company finances the construction of ice arenas, sports complexes and multifunctional sports grounds in the regions where it operates. Rosneft also supports amateur sports and carries out large-scale work to popularize a healthy lifestyle among both its own employees and the population in the regions where it operates.

    Reference:

    Rosneft athletes also take part in the main mass sports competitions held in our country, winning prizes. As part of the corporate sports and health movement “Energy of Life”, the Company’s employees regularly play sports and compete in various sports disciplines. In 2024, almost 128 thousand employees of the Company played sports as part of the “Energy of Life” movement. At the same time, more than 92 thousand employees took part in competitions in various sports.

    Department of Information and Advertising of PJSC NK Rosneft February 26, 2025

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Business Leaders Sound Alarm on Global Economic Uncertainty, Call for Unified APEC Action Brisbane, Australia | 26 February 2025 APEC Business Advisory Council

    Source: APEC – Asia Pacific Economic Cooperation

    Amidst rising global economic tensions, the APEC Business Advisory Council (ABAC) met in Brisbane this week to reaffirm its support for the value of trade and cooperation, and the original APEC commitment to free, fair, open and rules-based trade.

    Members expressed alarm at the escalating challenges posed by rising protectionism, regulatory complexity and other challenges including climate change, aging populations, declining growth rates for member economies and the business environment. Global uncertainty impacts trade flows, business planning and investment decision-making. Now more than ever, business and government must come together for the benefit of all.

    Economies must remain alert to emerging and disruptive technologies, including advancements in artificial intelligence and quantum computing, which offer both enormous promise and challenge to our economic development.

    “We must also redouble our efforts to put in place tangible enabling solutions like paperless trade, trade facilitation, resilient supply chains and other tangible items that ABAC 2025 aims for,” said ABAC Chair 2025 H.S. Cho.

    ABAC underscored the need for robust trade architecture, emphasising that a strengthened WTO and the APEC vision for a Free Trade Area of the Asia-Pacific (FTAAP) are vital counterweights to economic fragmentation. ABAC believes that this is the way to ensure fair, mutually beneficial trade as economies navigate the challenges of digital transformation and the climate crisis. 

    ABAC has adopted an ambitious theme for the year: “Bridge. Business. Beyond.” The 2025 work program emphasizes the role of business in connecting policymakers and stakeholders across the region, driving innovative growth, and shared prosperity.

    The ABAC work program is both visionary and practical.  For example, ABAC is looking at how to use digital tools like AI to promote small-business formalisation, create smart health systems, and tackle the carbon transition, including energy.  Economies must also urgently address gaps in infrastructure investment for energy security, energy transition, and digital transformation.

    ABAC wants to use the FTAAP process to drive quick progress on safer and more resilient supply chains, advance digital trade interoperability, and unlock green trade. ABAC remains committed to breaking down the barriers to women’s economic success, including by being able to tap into the venture capital they need and by closing the gender pay gap.

    ABAC will also develop recommendations to narrow the digital divide by using digital tools including AI, to support MSMEs to transition to the formal economy and access global markets.

    On meeting the challenges posed by aging populations, rising healthcare costs, and inequities in accessing medical services, ABAC will be developing recommendations for innovative, inclusive and smart health care systems. This will incorporate sustainable financing mechanisms, advanced health care models and the integration of digital health tools to enhance accessibility, efficiency and resilience of healthcare systems.

    To meet decarbonization goals amid rising electricity demand, ABAC will also develop recommendations to achieve a realistic and ambitious energy transition by utilizing advanced technologies to increase low carbon investments and expanding transition finance, supported by international cooperation and the development of low-carbon roadmaps.

    In a series of dynamic discussions with APEC Senior Officials, ABAC members sought to align priorities to produce actionable recommendations for leaders. “These discussions are the first of many interactions that we will have with policymakers and ministers this year.  We are keen to ensure that the business perspective is woven into key policy decisions,” the Chair added.

    The Chair expressed ABAC’s deep gratitude to the Australian government, particularly to the Department of Foreign Affairs and Trade, for their support in hosting this meeting.

    ABAC will reconvene in late April in Toronto, Canada, as it continues to develop its recommendations to achieve APEC’s goals, for presentation to APEC Leaders during their meeting in October in Korea.

     

    For further information please contact:

    Hyungkon Park (Mr), ABAC Executive Director 2025  at +82 2 6050 3686 and [email protected]

    Antonio Basilio (Mr), Director of the ABAC Secretariat at +63 917 849 3351 and [email protected]

     

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Skills and Training Scheme expanded to help 100,000 people into work

    Source: United Kingdom – Executive Government & Departments

    Press release

    Skills and Training Scheme expanded to help 100,000 people into work

    Over 100,000 people looking for work to benefit from tailored training next year, providing employers with work-ready recruits.

    • Coastal towns including Blackpool and Scarborough to benefit as Minister for Employment urges more businesses to sign up to help fill vacancies.
    • New research shows Sector-based Work Academy Programmes (SWAPs) can boost earnings by more than £1,400.

    Thousands of employers and individuals looking for work will benefit from a new record-breaking number of workplace training schemes, the government will announce today [Wednesday 26 February]. This will mean surpassing the previous target of 80,000 and offering new opportunities in some of the country’s most deprived communities.

    Minister for Employment, Alison McGovern will confirm the expansion of the Sector-Based Work Academy Programme (SWAPs) to provide 100,000 more places available over the next financial year, a boost of over a quarter from this year. 

    Sector-Based Work Academy Programmes (SWAPs) offer participants in England and Scotland who are receiving certain benefits the opportunity of training towards a job in a particular industry, alongside a work placement and a guaranteed interview that can kickstart a new career with over 63,000 people joining the SWAPs programme to help them find employment in the last year alone. 

    This boost for people looking for work through SWAPs is a crucial part of our plan to get Britain working to unlock growth, improve living standards and break down barriers to opportunity as part of our Plan for Change.

    The expansion comes as new research shows that in the two years after finishing a SWAP, participants stay in their jobs on average up to three months longer, earn up to £1,400 more, and save the taxpayer over £350 per person compared with those who don’t take part in the programme. 

    The same research finds that, while all demographics benefit from taking part in a SWAP, the impact is greater for more disadvantaged groups, such as older customers and those with restrictive health issues.

    The announcement builds on measures in the government’s Get Britain Working White Paper to overhaul jobcentres, tackle inactivity and improved outcomes for jobseekers. This will boost the nation’s skills and put more money into people’s pockets under the Plan for Change. 

    Minister for Employment, Alison McGovern MP said:

    The evidence is clear – SWAPs boost your earnings and keep you in your job for longer. That is why we are promising to deliver more of them than ever, as we Get Britain Working as part of our Plan for Change.

    And alongside our partnership with UKHospitality, more people in more areas of the country will be able to access the training they need to unlock the opportunities on their doorsteps.

    Anyone in receipt of unemployment benefits is eligible to take part in a SWAP via their local Jobcentre and any business can work with DWP to develop one. This enables businesses to recruit from a wider range of candidates and provide the necessary skills training tailored to an open vacancy.

    As part of this expansion, Minister for Employment Alison McGovern will announce that a hospitality SWAPs pilot, launched in partnership with UKHospitality, will be rolled out to 26 new areas in need of jobs and opportunity, including 13 coastal towns such as Scarborough and Blackpool.

    This will ensure jobs are filled in sectors with high vacancies, such as the 88,000 roles available in the hospitality industry as the government drives up opportunity as part of our wider reforms to Get Britain Working.

    Kate Nicholls, CEO of UKHospitality said:

    UKHospitality’s Sector-Based Work Academy pilot proved to be a brilliant way to provide high quality, entry-level training for both new starters and those looking to get back into work.

    I’m delighted that the government is rolling out our pilot to 26 new areas and using it as the model for its exciting plans to deliver at least 100,000 SWAP participants next year.

    This announcement gives us the impetus to expand our work across the country, help more people find rewarding jobs in hospitality, boost growth, tackle economic inactivity and continue to develop our Hospitality Skills Passport.

    Further information: 

    • SWAPs are designed to support unemployed benefit claimants on Universal Credit, Jobseeker’s Allowance, or Employment and Support Allowance, who are aged 16 years and over and who do not need extra support to address a lack of basic employability skills. Participants remain on benefits during their placement.
    • The programme runs in England and Scotland. SWAPs are developed by Jobcentres in partnership with employers and training providers. These opportunities are offered in job sectors with high volumes of current local vacancies.
    • Employers interested in taking the opportunity to start a SWAP for a role in their business can contact the Employers Service Line here – Jobcentre Plus help for recruiters: Recruitment advice and support – GOV.UK.
    • The SWAP impact assessment, carried out by DWP, focused on UC customers who started a SWAP between April 2021 and March 2022 and compared their employment outcomes to individuals who were eligible to start a SWAP but did not start a placement.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: University of Aberdeen Principal announces his retirement Professor George Boyne, Principal and Vice-Chancellor of the University of Aberdeen, has announced that he will retire in December 2025 after reaching his 70th birthday and completing the seven-year term he began in 2018.

    Source: University of Aberdeen

    Professor George Boyne, Principal and Vice-Chancellor of the University of Aberdeen, has announced that he will retire in December 2025 after reaching his 70th birthday and completing the seven-year term he began in 2018.
    Julie Ashworth, Senior Governor (Chair) of the University’s governing body, University Court, expressed her “deepest thanks for outstanding service”.
    Professor Boyne took up the leadership when the University had more modest placings in higher education rankings. Now Aberdeen is ranked 12th by the Guardian – up from 46th in 2018 – and 15th by the Times and Sunday Times – up from 40th in 2018 – in their most recent assessments of over 120 Universities across the UK.
    The University, which has a strong reputation for helping students from every background reach their full potential, is also ranked second in Scotland and 15th in the UK in the prestigious National Student Survey.
    Professor Boyne has led the organisation, which dates back to 1495 and is the 5th oldest in the UK, through challenging times such as the global pandemic, the impact of Brexit on universities, the cost-of-living crisis and unprecedented financial challenges for the higher education sector.

    It has been the honour of my life to be the internal advocate and external ambassador for the extraordinary range of very high-quality work that is carried out in the Schools and Professional Services at the University of Aberdeen.” Professor George Boyne, Principal and Vice-Chancellor of the University of Aberdeen,

    He said: “It has been the honour of my life to be the internal advocate and external ambassador for the extraordinary range of very high-quality work that is carried out in the Schools and Professional Services at the University of Aberdeen. It has also been a privilege to lead the development of our academic and financial strategies during this eventful time in higher education.
    “We have made very strong progress on a wide range of activities including student recruitment, student employability, research funding, research impact, and regional and global partnerships; and most fundamentally, the creation of new knowledge and scientific discoveries.
    “I will miss the University very much but the time is now right to pave the way for a successor. In December I will be five months beyond the seven-year term of office as Principal that I accepted in 2018, and two months beyond my seventieth birthday. The sevens in my professional and personal life are in close alignment.”
    As is customary when Principals retire, Professor Boyne is offering advance notice so that the University has sufficient time for the recruitment process and the notice period that the new Principal may be required to give their current role.
    The Senior Governor added: “I would like to express my deepest thanks to George for his unwavering commitment to the University. He has achieved an enormous amount in seven years and clearly leaves the University in a very strong position to attract outstanding candidates. Our financial position is stable, our research awards grew by 30% last year, student satisfaction is consistently among the best in the UK, and we have achieved our highest ever UK rankings. I wish him the very best for the rest of his tenure.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: “Rethink Your Drink” with a new app helping Liverpool to reduce drinking

    Source: City of Liverpool

    Liverpool residents wanting to cut down on alcohol can get free expert support through a new app that promotes a healthier lifestyle.

    The ‘Lower My Drinking’ app is part of a new campaign urging people to “Rethink Your Drink.”

    The app is available to anyone living or working in Liverpool. It offers expert advice tailored to individual goals and helps people stay motivated by tracking progress.

    Around 90,000 adults binge drink each week in Liverpool, which can impact their health and well-being. Reducing alcohol can lead to better physical and mental health, weight loss, and financial savings.

    The ‘Lower My Drinking’ app is for anyone who feels their alcohol intake is increasing and wants to reduce or modify the amount they drink.

    The app offers practical techniques, advice and support to gradually reduce alcohol to the recommended limit of 14 units per week over three days.

    The ‘Lower My Drinking’ app helps identify reasons for regular drinking and suggests strategies to manage them. It supports healthier lifestyle choices, and preparing for situations where drinking may be tempting. The app also offers guidance on staying relaxed and social without relying on alcohol.

    To download ‘Lower My Drinking’, click below or search ‘Lower My Drinking’ in your app store.

    Download for Android | Download for iOS

    Visit this website to calculate alcohol intake: www.drinklessfeelgood.com 

    More information on alcohol support: Liverpool Community Alcohol Service (LCAS) 

    Councillor Harry Doyle, Cabinet Member for Culture, Health and Wellbeing said: “The ‘Lower My Drinking’ app is a great resource for anyone looking to make small, positive changes to their drinking.

    “Cutting back on alcohol has many benefits, from improving your health to saving money. With the app’s support, users can set personal goals and see their progress, helping them stay on track and live a healthier, happier life.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Leicester’s communities take the spotlight at Light Up Leicester

    Source: City of Leicester

    LEICESTER’S vibrant communities are taking centre stage for Light Up Leicester as the festival returns to the city.

    Light Up Leicester 2025 will focus on the power of creative collaboration, with an incredible programme of community-driven activities accompanying stunning light installations, dazzling performances and colourful festival parades to make the event truly unique.

    The festival takes place from 12 to 15 March, and is free to attend.

    From young people creating artwork for the festival, to parades featuring hundreds of local participants, Leicester’s communities are at the heart of making the 2025 event happen.

    One installation, ‘The Roots of Our Tree’, is being created with the help of over 300 local young people. Working with Leicester-based arts charity Inspirate, participants have crafted metallic oak leaves, each inscribed with symbols representing their roots, heritage and culture.

    The Children’s Parade will showcase these leaves on the opening day of the festival, as  hundreds of young people process through Leicester’s streets at 11am. The leaves will then form part of an installation which will be on display throughout the rest of the festival.

    Shop windows across Leicester city centre will also be transformed into a dazzling art trail as part of ‘My Leicester: Future Stories’, created by Urban Canvas and Light Up Leicester founding partner, Art Reach. Local schools and community groups have worked together to produce vibrant light-painting photographs that celebrate ambition, hope and their visions of Leicester’s future.

    Juliet Martin, resident engagement manager at YMCA Leicestershire, said of one of the workshops: “Having Urban Canvas visit us and deliver light drawing workshops with some of our residents was a fantastic opportunity. We work with young people who are often excluded and who don’t get the opportunity to engage in creative workshops, so this was a really great offer and they loved it! They are excited about the festival and can’t wait to visit the city centre to see their artwork on display.”

    There are lots of other ways to get involved too – from ‘blinging up’ your bike and joining in with the Illuminated Bike Parade (Thursday 13 March, 6:30pm, register on the Light Up Leicester website), to enjoying interactive performances such as The Holi Experience by Nupur Arts (Friday 14 March, 6:30pm & 7:30pm), an exciting dance event filled with colour throwing and energy.

    Other highlights include:

    • Radiant Routes Opening Parade (Wednesday 12 March, 6pm): A luminous parade featuring dancers in glowing costumes, celebrating Leicester’s South Asian culture. To get involved in the parade please contact Nupur Arts at info@nupurarts.org.uk.
    • FierS à Cheval Festival Finale (Saturday 15 March, 7pm): A magical performance by French street theatre company Compagnie des Quidams, where glowing horses take to the streets.
    • Pop-Up Performances (Friday 14 and Saturday 15 March): Keep an eye out for captivating walkabout acts including The Pixel Project, Dry Bones, and Aquanauts Adrift as they bring spontaneous magic to the festival.
    • It’s (Lit)erati (Friday 14 and Saturday 15 March, 7pm & 9pm): A vibrant poetry experience curated by Literati Arts at St Martin’s Square.
    • Guided tour group walks (Wednesday 12 March at 6:45pm and Friday 15 March at 6:30pm): Bookable through the Light Up Leicester website events & activities page.

    Leicester’s businesses are also playing their part, offering tantalising discounts on dining during the festival. Diners can enjoy 25% off the total bill at Kayal, Herb, and Merchant of Venice, 20% off at the Queen of Bradgate, Middleton’s and Restaurant 1573, or enjoy three courses for £20 at Turtle Bay. There are lots more offers and deals available throughout the festival, full details can be found on the Light Up Leicester website offers page.

    “As a presenting partner and major sponsor of Light Up Leicester, BID Leicester is proud to be leading the festival’s marketing campaign and ensuring city centre businesses can make the most of this fantastic event”, said Simon Jenner, BID Leicester director.

    “With tens of thousands of visitors expected over four nights, it’s a brilliant opportunity for businesses to get involved, whether through special offers, themed events, or participating in the city-wide photographic window trail. Light Up Leicester brings an incredible buzz to the city, and we’re excited to see Leicester’s streets and businesses illuminated once again.”

    Leicester City Mayor, Sir Peter Soulsby said: “Light Up Leicester is a shining example of how communities and creativity can come together to make something truly special. This year’s festival showcases not only world-class light installations, but also the talents, stories and contributions of the people of Leicester. We look forward to welcoming people to our city for this spectacular event.”

    Light Up Leicester is also committed to making the festival accessible to everyone. There will be a dedicated Access Support Hub open every evening from 6pm to 10pm at the Visit Leicester Information Centre, and friendly staff will be ready to assist. Accessible tours are available to help support mobility around the festival for those with additional access needs, including rickshaws, box bikes and gazelles which can carry children and wheelchairs.

    From community-led parades to mesmerising light installations, Light Up Leicester 2025 promises something for everyone. Full details of the festival programme and participation opportunities can be found at lightupleicester.com

    Light Up Leicester is proudly presented by Leicester City Council, BID Leicester, Leicester Cathedral, and Art Reach, with the generous support of Arts Council England, the National Lottery Heritage Fund, Global Streets, PPL PRS, and headline sponsor Highcross.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Anyone can save a life

    Source: Mayor of London

    The chances of surviving a cardiac arrest drop by about 10% with every minute that passes. While defibrillation within 3-5 minutes of collapse can produce survival rates up to 50-70%.

    So, it is crucial for patients to receive bystander intervention before an ambulance arrives.

    Growing public knowledge of CPR and defibrillation, increases the chance of people being able to save a life.

    Analysis by the London Ambulance Service (LAS) has revealed that 150 neighbourhoods are ‘defibrillator deserts’ – where there is little or no access to a lifesaving device.

    The London Heart Starters Campaign aims to raise funds for an additional 200 public-access defibrillators in unlocked cabinets where they are needed most. In addition, the London Lifesaver Campaign aims to make the capital a city of lifesavers by equipping Londoners with CPR skills and helping them become familiar with using a defibrillator.

    The Transport for London (TfL) estate has 500 Public Accessible Defibrillators (PAD). Last year those PADs were called upon to be used over 60 times.

    Tomorrow, Members of the London Assembly Health Committee will visit Liverpool Street Station, where they will observe a pop-up London Lifesaver training. Also, a commuter whose life was saved will be reunited with the LAS crews who worked on him.

    MEDIA ARE INVITED TO ATTEND THIS FILMING/PHOTO OPPORTUNITY BY PRIOR ARRANGEMENT

    Location: Liverpool Street Station, Main Ticket Hall

    Date:  Thursday 27 February 2025

    Time: 10.30am-12pm  

    Interviewees will include:

    • Krupesh Hirani AM – Chair of the London Assembly Health Committee
    • Samantha Palfreyman Jones – Head of Community Resuscitation and Paramedic, LAS
    • Danny Bliss – Senior SHE Business Partner, TfL
    • Paul Benson – had a cardiac arrest at Liverpool Street Station. He was helped by bystanders and TfL staff using the station’s defibrillator. This joint effort kept him alive until LAS crews arrived, and he was later taken to a Heart Attack Centre.

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Financial hub status gets boost

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan this morning pledged that the Government will consolidate and enhance Hong Kong’s strengths as an international financial centre (IFC) to create more new growth areas.

    In his 2025 Budget Speech, Mr Chan said the key to consolidating and enhancing the strengths of Hong Kong as an IFC lies in institutional innovation, product innovation, a critical mass of enterprises and financial connectivity.

    To dovetail with the latest economic trends and corporate needs, Mr Chan said the Government will review listing requirements and post-listing ongoing obligations, evaluate listing-related regulations and arrangements to improve the vetting process, optimise the thresholds for dual primary listing and secondary listing, and review the market structure, including exploring the establishment of a post-delisting over-the-counter trading mechanism.

    Riding on the reduction in minimum price spreads to be implemented in the middle of this year, Hong Kong Exchanges & Clearing is reviewing with the Securities & Futures Commission (SFC) the trading unit system or the so-called “board lot” system.

    They will put forward proposed enhancements this year so that trading arrangements can better meet liquidity characteristics of shares of different sizes and investment needs as well as facilitate trading and improve efficiency.

    To meet the risk management needs of investors, the SFC will consult the market on the proposal to increase the position limits for key index derivatives, so as to enhance flexibility for investors to use the relevant derivatives while safeguarding financial safety.

    On product innovation, Mr Chan noted that the Government will soon promulgate a second policy statement on the development of virtual assets and conduct a consultation on the licensing regimes of virtual asset over-the-counter trading services and custodian services this year.

    It will also propose measures to promote gold market development this year.

    Additionally, the Government will explore enhancement measures to the legal and regulatory regime related to the issuance and transactions of digital bonds to promote the wider adoption of tokenisation in Hong Kong’s bond market.

    The finance chief said the Government will organise a flagship forum in the second half of this year to promote Hong Kong’s strengths in fixed income and currencies.

    Noting that the industry responded favourably to a pilot scheme on insurance-linked securities, with the issuance of six catastrophe bonds facilitated in Hong Kong and an issuance amount totalling over $5.8 billion, Mr Chan said the pilot scheme will be extended for three years.

    On fostering the development of the asset and wealth management industries, Mr Chan said the Government will formulate proposals on the preferential tax regimes for funds, single family offices and carried interest this year.

    He outlined that the proposals will include expanding the scope of “fund” under the tax exemption regime, increasing the types of qualifying transactions eligible for tax concessions for funds and single family offices, enhancing the tax concession arrangement on the distribution of carried interest by private equity funds.

    To keep attracting global capital to Hong Kong, the Government will be hosting the third edition of the Wealth for Good in Hong Kong Summit shortly under the theme “Hong Kong of the world, for the world”, showcasing Hong Kong’s strengths as a global hub for family offices.

    In addition, the inaugural Hong Kong Global Financial & Industry Summit will also be held to pool together global enterprises, funds and technologies through financial empowerment, thereby elevating the level of international co-operation of industries.

    Revealing that the People’s Bank of China and the Hong Kong Monetary Authority are working closely to implement the linkage of faster payment systems of both places, Mr Chan said he expected the round-the-clock real-time, small-value cross-boundary remittance service for residents in both places to be launched in the middle of this year at the soonest.

    The finance chief added that a public consultation on specific proposals of Mandatory Provident Fund “full portability” will be held this year.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment Feb 26, 2025

    Source: Huawei

    Headline: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment
    Feb 26, 2025

    [Shenzhen, China, February 26, 2025] In its latest Core & Metro Packet-Optical Transport: Competitive Landscape Assessment, the world-renowned industry analysis firm GlobalData gave Huawei high marks for its flagship optical transmission product OptiX OSN 9800 series. Thanks to its leading technical architecture, ultra-large capacity, intelligent O&M capabilities, and the company’s mature global commercial practices, OptiX OSN 9800 once again ranked as a “Leader” with the highest score in the core and metro WDM fields. This further reinforces its leading position in optical communications.
    Huawei’s OptiX OSN 9800 Series Retained “Leader” Position in GlobalData’s Core and Metro WDM

    Huawei’s OptiX OSN 9800 series has made multiple technical breakthroughs and achieved comprehensive leadership in aspects ranging from transmission performance to network management.
    1. Ultra-high rate and ultra-large capacity
    Huawei’s OptiX OSN 9800 series supports a programmable rate of 400 Gbit/s to 1.2 Tbit/s per wavelength, as well as future evolution to a higher rate of 2 Tbit/s and beyond. The PBC non-linear compensation algorithm and new material technologies are used to extend the transmission distance by more than 20%. To date, Huawei’s 400G solution has been deployed on more than 200 networks in over 100 countries around the world, accelerating the commercial use of 400G+ networks.
    This series also supports a single-fiber capacity of 96 Tbit/s, and Super C+L band ultra-broadband spectrum to meet the capacity requirements for the next decade. In addition, it also provides Pbit/s-level optical switching capacity per subrack, facilitating data center interconnection.
    2. Energy saving and high efficiency
    OSN 9800 K36 is the industry’s first DC-oriented OTN platform. It uses the dual 3D orthogonal architecture and intelligent heat dissipation technology to double the switching capacity per slot and reduce the per-Gbit power consumption by 65%. In addition, the front-to-rear airflow design optimizes the energy efficiency of equipment rooms, enabling carriers to build green data centers.
    Compared with traditional solutions, Huawei’s OSN 9800 P32/P32C all-optical cross-connect products achieve 90% less device footprint and 60% less power consumption, achieving the best energy efficiency ratio in the industry.
    3. High availability and automatic O&M
    Huawei’s NCE-T transmission digital map solution provides automatic wavelength expansion planning, shortening the network expansion period from months to days. Moreover, the solution provides functions such as proactive assurance for availability risks and accurate fault diagnosis. With ASON, an E2E availability system covering prevention, recovery, and repair is established, improving the network availability to 99.999% and significantly reducing O&M costs.
    The OptiX OSN 9800 series has been widely implemented on global carrier networks in integrated transmission scenarios such as high-speed interconnection between data centers, home broadband, mobile bearing, and enterprise private lines. The flexible optical-electrical convergence architecture supports unified switching of OTN, SDH, packet, and OSU services, as well as integrating the all-optical cross-connect function, to provide carriers with ultra-broadband, elastic, and intelligent transmission solutions.
    According to the report, Huawei is ahead of competitors in terms of line ports, switching capacity, transmission capability, and network management. Emir Halilovic, Research Director of GlobalData, highlighted that Huawei’s OSN 9800 series products “define a new benchmark in terms of ultra-large capacity and intelligence features”.

    MIL OSI Economics –

  • MIL-OSI Economics: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment

    Source: Huawei

    Headline: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment

    [Shenzhen, China, February 26, 2025] In its latest Core & Metro Packet-Optical Transport: Competitive Landscape Assessment, the world-renowned industry analysis firm GlobalData gave Huawei high marks for its flagship optical transmission product OptiX OSN 9800 series. Thanks to its leading technical architecture, ultra-large capacity, intelligent O&M capabilities, and the company’s mature global commercial practices, OptiX OSN 9800 once again ranked as a “Leader” with the highest score in the core and metro WDM fields. This further reinforces its leading position in optical communications.
    Huawei’s OptiX OSN 9800 Series Retained “Leader” Position in GlobalData’s Core and Metro WDM

    Huawei’s OptiX OSN 9800 series has made multiple technical breakthroughs and achieved comprehensive leadership in aspects ranging from transmission performance to network management.
    1. Ultra-high rate and ultra-large capacity
    Huawei’s OptiX OSN 9800 series supports a programmable rate of 400 Gbit/s to 1.2 Tbit/s per wavelength, as well as future evolution to a higher rate of 2 Tbit/s and beyond. The PBC non-linear compensation algorithm and new material technologies are used to extend the transmission distance by more than 20%. To date, Huawei’s 400G solution has been deployed on more than 200 networks in over 100 countries around the world, accelerating the commercial use of 400G+ networks.
    This series also supports a single-fiber capacity of 96 Tbit/s, and Super C+L band ultra-broadband spectrum to meet the capacity requirements for the next decade. In addition, it also provides Pbit/s-level optical switching capacity per subrack, facilitating data center interconnection.
    2. Energy saving and high efficiency
    OSN 9800 K36 is the industry’s first DC-oriented OTN platform. It uses the dual 3D orthogonal architecture and intelligent heat dissipation technology to double the switching capacity per slot and reduce the per-Gbit power consumption by 65%. In addition, the front-to-rear airflow design optimizes the energy efficiency of equipment rooms, enabling carriers to build green data centers.
    Compared with traditional solutions, Huawei’s OSN 9800 P32/P32C all-optical cross-connect products achieve 90% less device footprint and 60% less power consumption, achieving the best energy efficiency ratio in the industry.
    3. High availability and automatic O&M
    Huawei’s NCE-T transmission digital map solution provides automatic wavelength expansion planning, shortening the network expansion period from months to days. Moreover, the solution provides functions such as proactive assurance for availability risks and accurate fault diagnosis. With ASON, an E2E availability system covering prevention, recovery, and repair is established, improving the network availability to 99.999% and significantly reducing O&M costs.
    The OptiX OSN 9800 series has been widely implemented on global carrier networks in integrated transmission scenarios such as high-speed interconnection between data centers, home broadband, mobile bearing, and enterprise private lines. The flexible optical-electrical convergence architecture supports unified switching of OTN, SDH, packet, and OSU services, as well as integrating the all-optical cross-connect function, to provide carriers with ultra-broadband, elastic, and intelligent transmission solutions.
    According to the report, Huawei is ahead of competitors in terms of line ports, switching capacity, transmission capability, and network management. Emir Halilovic, Research Director of GlobalData, highlighted that Huawei’s OSN 9800 series products “define a new benchmark in terms of ultra-large capacity and intelligence features”.

    MIL OSI Economics –

  • MIL-OSI: MROpenEVO at ECR 2025 with an AI-ready upgrade for further enhanced image quality and faster examinations; new system soon available in Georgia

    Source: GlobeNewswire (MIL-OSI)

    GENOA, Italy, Feb. 26, 2025 (GLOBE NEWSWIRE) — Unlocking the future of joint and spine imaging with the Latest Evolution of MROpenEvo: the only truly open MRI System at ECR 2025.

    Thanks to the optimization of key technical features, the latest version of the helium-free, MgB2-based MRI scanner delivers exceptional image quality while reducing scan times by up to 50%.

    Discover the innovative features of MROpenEvo, a groundbreaking MRI system specifically designed for joint, neuro, and spine imaging. It offers ample space for children, larger patients, and individuals with claustrophobia, ensuring comfort for all.

    The new image acquisition algorithm, based on the “compressed sensing” technique, combines parallel imaging with sparse data sampling and iterative reconstruction. This combination leads to faster scan times and enhanced resolution. The “compressed sensing” technique is applicable to both 2D and 3D sequences across all anatomies.

    In the meantime, the patient centric design MRI system developed by ASG Superconductors arrives in another new country: MROpenEvo will be shortly available in Georgia @ Tbilisi State Medical University and Ingorokva High Medical Technology University Clinic.

    Prof. Giorgi Ingorokva declared: “I am proud announcing that our hospital will be the first clinic in Georgia to install the groundbreaking Open MRI system. It will enhance diagnostic capabilities and improve patient care in the region.”

    Nowadays MROpen Evo is available in USA, Canada, UK, Italy, Portugal, Kuwait, and the innovative MgB2 superconducting technology – the key element driving the unique and distinctive open design – has reached over 2.5 million hours of operation.

    Join us at ECR2025 in Vienna, Hall X4, Booth 410, to experience MROpen Evo with our experts and discover how this innovative and unparalleled MRI system can enhance your practice.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    Contact:

    Silvia Frigato Bonello
    frigato.silvia@as-g.it 

    Luca Pezzoni
    lpezzoni@hofima.it 

    The MIL Network –

  • MIL-OSI Economics: Shaping a Brighter Future for Asia and the Pacific: ADB President Asakawa’s Legacy

    Source: Asia Development Bank

    Transcript

    In January 2020, President Masatsugu Asakawa took the helm of the Asian Development Bank with a vision for sustainable growth and regional cooperation. Little did he know that two months later, the world would face an unprecedented crisis—the COVID-19 pandemic. As the pandemic swept across countries, President Asakawa recognized the urgency and mobilized ADB’s resources to respond swiftly.

    Masatsugu Asakawa
    President
    Asian Development Bank
    2020-2025

    “In a crisis, every moment counts. I’m proud that ADB acted decisively when our members needed us most.”

    Under his leadership, ADB launched a $20 billion assistance package, including the COVID-19 Pandemic Response Option (CPRO) and a $9-billion Asia Pacific Access Facility (APVAX) to help countries procure and distribute drugs.

    Amidst the global health crisis, another pressing challenge demanded attention—climate change. At COP26 in Glasgow, President Asakawa reaffirmed ADB’s climate leadership.

    “We can’t afford to wait on climate action. That’s why we pledged at least $100 billion in climate financing by 2030 and pioneered innovative tools like the Energy Transition Mechanism and IF-CAP to drive real change.”

    Under his guidance, ADB became the region’s “climate bank,” promoting sustainable, inclusive growth while addressing environmental challenges. President Asakawa advocated action to help developing member countries become more resilient against climate change impacts, such as extreme heat and accelerated glacial melt.

    “Climate action has been a top priority for ADB, and for me personally. Throughout my presidency, ADB has intensified efforts to address the climate crisis— with initiatives focused on protecting vulnerable areas like the Hindu Kush-Himalaya region.”

    Alongside these initiatives, President Asakawa never lost sight of the people behind ADB’s success—its staff. In response to the COVID-19 pandemic, he introduced flexible work arrangements and prioritized safety measures.

    “Our people are the heart of ADB. Their safety and well-being come above all else. By fostering a supportive and inclusive environment, we empower our staff to deliver their best for the communities we serve.”

    In a critical moment, President Asakawa orchestrated the evacuation of 120 ADB staff and their families from Afghanistan. His actions not only safeguarded lives but reinforced a culture of care within the ADB community.

    Looking beyond immediate crises, President Asakawa also focused on building stronger foundations for the future. He championed domestic resource mobilization, helping countries strengthen their financial resilience.

    “True progress is when countries stand on their own feet. Our role is to help them build that foundation, strengthening their ability to create sustainable growth and resilience for future generations.”

    Through initiatives like the creation of the Asia Pacific Tax Hub,  ADB has helped strengthen tax systems, improve governance, and secure social safety nets for people across the region.

    Understanding that the region’s prosperity depends on cooperation, President Asakawa reinforced the importance of robust partnerships to rejuvenate trade and improve supply chains.

    “Asia and the Pacific has benefited immensely from globalization. With the looming threat of protectionism, our region must continue to champion connectivity and collaboration.”

    To support his ambitious goals, President Asakawa also spearheaded significant transformation within ADB. A review of the Capital Adequacy Framework unlocked an additional $100 billion in lending capacity over the next decade.

    Meanwhile, the new operating model introduced strategic shifts to expand private sector operations, intensify climate action, drive innovation, and locate staff closer to clients to strengthen support and responsiveness.

    These initiatives align with the MDB evolution agenda, ensuring ADB remains a key player in global development.

    “To meet tomorrow’s challenges, we must evolve today. Innovation isn’t just an option. It’s an imperative.”

    As his tenure comes to a close, President Asakawa leaves a strengthened, future-focused ADB.

    His vision encourages ADB to stay invested in the region’s success and responsive to emerging challenges. And he reminds us that building trusted, long-term partnerships is key to driving meaningful change.

    “ADB’s strength lies in being a trusted development partner- a reliable friend and partner of choice for Asia and the Pacific. This close relationship is our legacy. And it’s vital we preserve it.”

    President Asakawa has guided ADB through challenging times with transformative leadership that has left an indelible mark on the organization and region. As we look to the future, his legacy sets the foundation for a prosperous, resilient, inclusive, and sustainable Asia and the Pacific.

    “I want to extend my heartfelt gratitude to ADB’s staff, Board of Directors, member governments, and our many partners. Together, we have achieved milestones that will continue to shape a brighter future for Asia and the Pacific.”

    MIL OSI Economics –

  • MIL-OSI Economics: Lexus Brings Immersive “A-Un” Exhibit to Milan Design Week 2025

    Source: Toyota

    Headline: Lexus Brings Immersive “A-Un” Exhibit to Milan Design Week 2025

    Lexus will showcase A-Un, an interactive installation that connects intuitively with its experiencers, from April 8 to April 13, 2025, at Superstudio Piu (Daylight Hall) during Milan Design Week. The famed design week, a key event for global creatives, is the biggest of its kind and brings together furniture makers and fashions brands to showcase their latest wares. This year, alongside A-Un, Lexus will display the Discover Together, an exhibition of interactive works from three creators. Lexus has continuously challenged the status quo in the luxury automotive space, pushing boundaries in both products and services to create new experiences that respect every moment of a customer’s time. During Milan Design Week 2024, Lexus displayed its “Time” installation which took inspiration from the next-generation Lexus electric vehicle, LF-ZC. The showcase demonstrated Lexus’s vision of endless possibilities for future technologies and communicated how software will continue its evolution to better individuals’ experience through cars. Produced in collaboration with Lexus and Tokyo-based creative agency, SIX, and design studio, STUDEO, A-Un is inspired by the traditional Japanese concept of Aun no Kokyu (the synchrony of breathing) showing a new dimension of seamless communication between humans and mobility and captures the spirit of mutual understanding through perfectly synchronized interactions.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Сall for project proposals under Enabling Fund 2025-2026

    Source: United Kingdom – Executive Government & Departments

    World news story

    Сall for project proposals under Enabling Fund 2025-2026

    The British Embassy Kyiv invites proposals from non-profit organisations for project work under the Enabling Fund (EF) for the period from May 2025 to March 2026.

    The British Embassy Kyiv: call for project proposals under Enabling Fund 2025-2026

    The deadline for submitting proposals is 17.00 (Kyiv time) on 21 March 2025.

    The British Embassy Kyiv uses its Enabling Fund (EF) to complement work funded by the large-scale programmes in Ukraine via funding small-scale quick-win projects or aimed at leveraging bigger funding, at providing unique UK expertise in areas of top priority for Government of Ukraine or at obtaining insights into new areas of activity for future interventions. We will particularly welcome applications that show how they would contribute to the objectives of the 100 Year Partnership, which seeks to deepen the relationship between Ukraine and the UK across all areas.

    The programme will focus on the following areas:

    1. Supporting pillars of the 100 Years Partnership not funded by other programmes, thus strengthening Ukraine’s national and regional democratic institutions, helping Ukraine carry out reforms to meet EU, IMF and NATO standards, supporting Ukraine’s innovative tech capabilities; this can include support to local Ukrainian media, media watchdogs and consortia working to service critical information needs in frontline communities and occupied Crimea and affected by USAID freeze; support to development of innovative academic, science and research courses and modules in Ukraine in partnership with UK, harnessing best UK experience in education and education management, economics, banking sector; support to local hromadas in designing e-toolkit for harmonising hromadas’ recovery plans with regional and national ones (all projects to meet GESI-D requirements)

    2. Supporting vulnerable groups not covered by larger UK programmes, such as work on barrier-free Ukraine, protecting rights of persons with disabilities, LGBT people, work on protecting human rights in temporarily occupied territories including Crimea and on reintegration of de-occupied territories, including reintegration of children returned from Russia or temporarily occupied territories, ensuring cooperation between state institutions, civil society and international partners (all projects to meet GESI-D/E requirements)

    NOTES:

    Non-profit organisations are invited to bid. Successful projects should have sustainable outcomes and should clearly identify the change that will be brought about. All bids should make clear how they complement existing activities supported by other donors and international partners, and how work in the regions complements national level activity.

    The minimum indicative funding for projects is £75,000 and maximum £100,000. This may be in addition to co-funding and self-funding contributions; indeed this will be considered a merit. Our funding is for the UK financial year April 2025-March 2026 only (projects must be implemented and all payments made by 15 March 2026). Where appropriate, bidders are encouraged to describe how their project could be further scaled-up if additional funding became available.

    The British Embassy Kyiv will carry out due diligence of potential grantees, including seeking references, as part of the selection process.

    Bidding is competitive and only selected projects will receive funding. The Embassy reserves the right to accept or reject any or all bids without incurring any obligation to inform the affected applicant(s) of the grounds of such acceptance or rejection. Due to the volume of bids expected we will not be able to provide feedback on unsuccessful bids. If bidders are not contacted by end April they have been unsuccessful in this bidding round.  

    Bidding process

    Bidders should fill in the standard Project Proposal Form and include a breakdown of project costs in the Activity Based Budget (ABB). We will not consider proposals submitted in other formats. Budgets must be Activity Based Budgets (ABB), all costs should be indicative, in GBP (not Ukrainian Hryvna).

    Successful bids must demonstrate Gender Equality and Social Inclusion (GESI) Category D or E (please see description of all GESI Categories in Annex below), i.e. have a gender equality objective explicit in the project documentation and an explanation of a positive impact of the project on advancing gender equality. If the project is designed with the principal intention of advancing gender equality, it must have outcomes on gender equality and outputs that contribute to these outcomes.

    All projects or activities must align with the Paris Agreement on Climate Change and assess climate and environmental impact and risks, taking steps to ensure that no environmental harm is done and, where relevant, support adaptation.

    Successful implementers should be able to receive project funding in GBP (UK pound sterling) and open a GBP bank account for the project.

    Proposals should be sent to the British Embassy Kyiv at Kyiv.Projects@fcdo.gov.uk by 17.00 (Kyiv time) on 21 March 2025. In the subject line, please indicate the name of the bidder, the area (1 or 2), and the subtopic under which the project is submitted (e.g. [name of NGO]/area 1/Support to local hromadas). We aim to evaluate proposals by end-April. Approved projects will commence in May 2025.

    Evaluation criteria

    Proposals will be evaluated against the following criteria:

    • fit to programme objectives – the extent to which the proposal addresses the issues
    • quality of project – how well defined and relevant the outcome is and how outputs will deliver this change; ability to leverage bigger funding would be an advantage
    • value for money – the value of the expected project outcomes, the level of funding requested and institutional contribution
    • previous experience – evidence of the project team’s understanding the issue and of its regional activities, ability to manage and deliver a successful project, through work done to date in the area or in related fields
    • gender-sensitive approach and alignment with the Paris Agreement on Climate Change – as indicated above; the proposals will be assessed by a mixed gender panel.

    ISF_Project Proposal Template_Part A 30-09-2024

    ODT, 60.8 KB

    This file is in an OpenDocument format

    ISF_Project_Activity-Based_Budget_Template 28-01-2025 w upd guidance

    ODS, 1.2 MB

    This file is in an OpenDocument format

    GESI Priorities

    PNG, 505 KB

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Green sector a growth area: FS

    Source: Hong Kong Information Services

    In his 2025-26 Budget speech, Financial Secretary delivered an update on initiatives to harness green industries in Hong Kong, stressing that green finance and green technology are accelerating the build-up of multi-faceted industry clusters and creating huge business opportunities.

    In terms of green finance, Mr Chan iterated that Hong Kong last year launched the Sustainable Finance Action Agenda, setting out goals for the banking industry to achieve net zero, and committed to becoming one of the first jurisdictions to align local requirements on sustainability disclosure standards with those outlined in the International Financial Reporting Standards.

    He said that to support local green-finance talent training, the Pilot Green and Sustainable Finance Capacity Building Support Scheme will be extended to 2028. 

    The finance chief also reported that the Hong Kong Science and Technology Parks Corporation (HKSTPC) will develop its InnoCentre in Kowloon Tong into a green technology hub, to be named “GreenTech Hub”. The hub will bring together more than 200 green technology companies, with the HKSTPC inviting partners such as financial and business institutions and universities to support the companies by providing training, business matching, and more.

    With regard to shipping, the Government plans to develop Hong Kong as a green maritime fuel bunkering centre by the implementing the Action Plan on Green Maritime Fuel Bunkering. Mr Chan said the Government will provide tax exemptions on green methanol used for bunkering. In the aviation sector, meanwhile, a Sustainable Aviation Fuel consumption target will be announced this year.

    In terms of waste reduction, the Government will allocate additional funding of $180 million to increase the number of residential food waste smart recycling bins and food waste collection facilities across the city. I·PARK1, Hong Kong’s first waste-to-energy facility for treating municipal solid waste, is expected to commence operation this year, and an open tender has been invited for I·PARK2, which will have an expected treatment capacity of 6,000 tonnes per day. 

    Mr Chan announced that the Government will launch a $300 million electric vehicle subsidy scheme in the middle of the year, adding that the scheme is expected to provide impetus to for the industry to install 3,000 fast chargers across Hong Kong by 2030.

    In relation to public transport, the finance chief remarked that the Government recently launched a “Green Transformation Roadmap of Public Buses and Taxis” and earmarked $470 million under the New Energy Transport Fund to subsidise franchised bus operators in purchasing about 600 electric buses.  A further $135 million was earmarked to subsidise the taxi trade in purchasing 3,000 electric taxis.  In addition, the “Funding Scheme to Trial of Hydrogen Fuel Cell Heavy Vehicles” is now open for application.

    The Government intends to invite tenders for a smart and green mass transit system project in Kai Tak this year, and for similar projects in East Kowloon and the Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas next year. 

    Mr Chan also reported that the Government has reserved a site in Sheung Shui for the agriculture sector to set up the city’s first multi-storey, environment-friendly livestock farm.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: SPbPU PISh “Digital Engineering” and TsKBM opened a laboratory to study technologies for producing hydrogen and its derivatives

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On February 25, the SPbPU PISh “Digital Engineering” ceremonially opened the scientific and technological educational space “Laboratory of integrated development of the main equipment of chemical-technological and energy systems of the new generation”.

    The laboratory was created jointly with the Central Design Bureau of Mechanical Engineering (part of the mechanical engineering division of the Rosatom State Corporation) as part of the implementation of the SPbPU PISh program.

    This space is focused on studying chemical technologies for hydrogen energy projects using digital solutions. The laboratory occupies 125 square meters and can accommodate up to 15 people at a time.

    The latest Russian-made equipment allows for science-intensive research and development, and also enables undergraduates and postgraduates to conduct research in the field of chemical technology, develop kinetic models of catalytic processes, including the production of hydrogen and derivatives based on it, and collect data to create and validate digital twins of physical, mechanical and chemical processes.

    The only catalytic unit in St. Petersburg, LKU-1, for studying high-temperature processes with a fixed catalyst bed is located here. It will allow studying the processes of catalytic processing of natural gas (steam reforming), testing catalysts and developing promising technologies for producing hydrogen.

    In the 2024-2025 academic year, with the support of the Central Design Bureau of Machine Building, a new master’s program was opened at the SPbPU PISH “Digital Engineering” “Digital engineering of the main technological equipment of hydrogen technologies and energy systems of the new generation”It trains advanced specialists capable of developing, modeling, optimizing and designing high-tech production proprietary equipment for chemical technologies, including hydrogen production, using digital twin technology.

    Let us recall that the agreement on cooperation in educational, scientific and innovative activities for the purpose of implementing joint basic and additional educational training programs for current tasks between the Central Design Bureau of Mechanical Engineering and the Saint Petersburg Polytechnical University’s PIS “Digital Engineering” signed On November 21, 2022, at the Atomexpo International Forum, the main event of the global nuclear industry.

    In the new laboratory, master’s students will not only master the methodology of scientific research and gain research experience, but will also be able to conduct important research within the framework of the promising projects implemented by the Central Design Bureau of Mechanical Engineering in the field of hydrogen energy.

    The opening ceremony of the space was attended by representatives of the Polytechnic University and the Central Design Bureau of Mechanical Engineering, including the Vice-Rector for Digital Transformation of SPbPU, the Head of the Advanced Engineering School of SPbPU “Digital Engineering” Alexey Borovkov, the Vice-Rector for Organizational and Economic Work of SPbPU Stanislav Vladimirov, the Deputy Head of the Advanced Engineering School of SPbPU Oleg Rozhdestvensky, the Head of the Central Design Bureau of Mechanical Engineering Yuri Gordienkov, and the First Deputy Head of the Central Design Bureau of Mechanical Engineering Alexey Mikhailov.

    The ceremony’s guests of honor included representatives of the industrial partner of the SPbPU PISh — the Krylov State Research Center. These were Deputy Director General for Scientific and Production Activities Igor Marenich, Deputy Head of the Hydrogen Energy Scientific and Production Complex Aleksandr Karpovich, and Head of the Experimental Production of the Hydrogen Energy Scientific and Production Complex Aleksandr Datskevich.

    “One of the important tasks in the implementation of the federal project “Advanced Engineering Schools” is the development of the infrastructure of the participating universities. The competencies of teachers of advanced engineering schools and representatives of the high-tech industry, the formulation of engineering challenges, as well as modern laboratory equipment – all this gives a synergistic effect, allowing us to train engineers with world-class competencies. Seven scientific and educational spaces have already been opened in the Advanced Engineering School of SPbPU “Digital Engineering”.

    The opening of the Laboratory for Complex Development of the Main Equipment for New-Generation Chemical-Engineering and Energy Systems together with the TsKBM company will allow us to carry out R&D in the interests of the key partner of the Advanced Engineering School of SPbPU — the State Corporation Rosatom — and, within the framework of solving frontier engineering problems, train students in the promising area of chemical-engineering and energy systems,” noted Alexey Borovkov.

    The head of the Central Design Bureau of Mechanical Engineering, Yuri Gordienkov, emphasized the long-term and fruitful cooperation with the Polytechnic University and noted that the opening of the laboratory will be an important step in the development of joint projects.

    In the new laboratory, TsKBM plans to focus on the development of chemical technologies, including the production of hydrogen and synthesis gas for use in industrial processes and energy systems. In the next decade, hydrogen energy may become one of the main areas of development for TsKBM, which will lead to diversification of the order portfolio, sustainable development of the enterprise and ensuring the technological sovereignty of the Russian Federation. Training highly qualified specialists in the field of chemical technologies and hydrogen energy is a key factor for the successful development of this promising area, emphasized Yuri Gordienkov.

    The development of a joint scientific and technological infrastructure of the Advanced Engineering School of SPbPU “Digital Engineering” and the Central Design Bureau of Mechanical Engineering will ensure comprehensive interaction with an industrial partner in terms of solving urgent frontier problems in the energy sector.

    After the opening of the laboratory, a working meeting was held to discuss current joint projects and promising areas of cooperation. The high-tech projects of the Advanced Engineering School of SPbPU in the interests of CBMD represent the “foundation” for creating a new generation of equipment that will allow the industrial partner to become a technology licensor and take a leading position in the new industry.

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

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