NewzIntel.com

Category: Transport

  • MIL-OSI China: China intensifies employment support to stabilize post-festival labor market

    Source: China State Council Information Office 2

    China has intensified efforts to stabilize the labor market and ensure smooth business operations following the Spring Festival by organizing both online and offline job fairs, as well as offering chartered buses, trains and flights to help migrant workers return to their jobs.
    From mid-January to Feb. 11, a total of 22,000 recruitment events have been held nationwide, offering more than 15 million job opportunities, according to data released by the Ministry of Human Resources and Social Security on Thursday.
    Approximately 370,000 migrant workers have returned to their jobs, thanks to the 15,000 chartered buses, trains and flights provided, according to the data.
    The period after the Spring Festival is crucial for businesses to resume operations and production, while also being a peak time for workers to change jobs and seek employment.
    In the Yangtze River Delta and Pearl River Delta regions, businesses have swiftly resumed operations after the holiday to fulfill orders and boost production, driving a steady and growing demand for labor.
    The ministry has focused on addressing businesses’ workforce needs and strengthening inter-regional labor cooperation to ensure stable production and sustain economic growth.
    From mid-January to mid-March, the ministry, along with seven other central authorities, will launch campaigns to offer employment services for workers and employers. 

    MIL OSI China News –

  • MIL-OSI Economics: Burkhard Balz: Envisioning tomorrow – the role of CBDCs in Europe’s digital financial ecosystem

    Source: Bank for International Settlements

    Check against delivery 

    1 Introduction

    Good morning ladies and gentlemen and thank you very much for your warm welcome.

    I am honoured to have been invited back to this year’s Frankfurt Digital Finance Conference in this wonderful building here in Frankfurt’s Palmengarten and to have been asked to hold a keynote to kick off today’s event.

    Allow me to begin my keynote this morning with a quote attributed to Oscar Wilde: The future belongs to those who recognise opportunities before they become obvious. These words, ladies and gentlemen, could not be any better suited to our financial ecosystem. 

    And it is precisely opportunities that I wish to address in my keynote today – the opportunities provided by central bank digital currencies, or CBDCs for short. A subject that is as timely as it is significant.

    2 The future is digital

    We are at the cusp of a new era. One in which the digitalisation of the financial sector is not just an option but a necessity. New technologies are venturing into the realm of payments and new forms of money, such as digital central bank currencies and stablecoins, are also emerging as alternatives to physical cash.

    These developments all pose new challenges for central banks. Ultimately, central banks must continue to ensure secure and efficient payments in line with their mandate and redefine their role in an increasingly digitalised world in order to maintain the public’s trust in our monetary system.

    The question that we therefore now face is: how do we respond to these technological challenges?

    And that is precisely why we in the Eurosystem – by that I mean the European Central Bank and the national central banks of the euro-area member states, including the Bundesbank – are taking a proactive approach to actively help shape the future of Europe’s digital financial ecosystem.

    3 What are we aiming to achieve with the introduction of a digital euro?

    One could argue that the Eurosystem already offers enough sufficiently well-functioning products, be it physical banknotes and coins or cashless payment instruments. After all, these have proven their worth for decades. Yet at the same time, we cannot simply ignore the evolving world around us. In an increasingly digitalised society, we must adapt to the changing needs and demands of consumers and rethink our payment services. 

    Let me outline the three key motivations behind the possible introduction of a retail CBDC in Europe – a digital euro, which we sometimes like to summarise as resilience, autonomy and efficiency.

    Let me first start with resilience. The foundation of an independent and efficient monetary policy is the adoption and use of the euro. By providing our common currency – the euro – in its form as legal tender and as a modern “all-in-one” digital payment solution, we are paving the way for our currency to enter the digital age, making it “future-proof” and fit for purpose in an increasingly digital society.

    The digital euro would thereby help to preserve the euro’s fulfilment of the core monetary functions and shield the euro area from competing foreign currencies as well as foreign – and potentially unregulated – stablecoins by safeguarding the anchor function of central bank money.

    Second, the digital euro is necessary to improve the autonomy of the European payment system. In its current form, the European payments landscape is highly dependent on non-European providers. Almost 25 years after the introduction of the euro, we still do not have a digital payment solution that can be used across the entire euro area and that runs on a European infrastructure, which, in my view, is not compatible with the concept of a single European market. Although a small number of successful payment innovations have emerged across the euro area over the past years, such as iDEAL in the Netherlands or BIZUM in Spain, the reach of these payment solutions usually ends at national borders.

    As a result, payments in Europe are largely dependent on international schemes, primarily those in the United States. At present, just under two thirds of all card payments in the euro area are processed by non-European providers. And I believe that Europe’s dependencies in the digital age are likely to increase if we do not fundamentally take matters into our own hands. 

    Third, is the issue of efficiency. By creating a pan-European payment rail in a technically modern form, we would foster competition and innovation in payments across Europe, which we believe is the best path towards efficiency in payments. The payment initiatives we have today, such as BIZUM or WERO, would be able to integrate the digital euro into their payment applications, thereby enabling them to gain instant European reach.

    4 What would a digital euro be for the common citizen?

    Although the issues I have just touched upon are very important, they are not necessarily of primarily relevance for the daily life of a majority of citizens in Europe. Hence, what would the digital euro be from the perspective of the customer?

    I believe that the digital euro would not just be a commitment to Europe’s autonomy, increase the resilience of our payment system and foster competition and innovation, it would also improve payments and make life easier for the 350 million residents of the euro area.

    The digital euro would serve as an additional means of payment alongside cash. As a digital upgrade of banknotes and coins, it would be an “all-in-one payments solution”, as we like to call it, which means it can be used in almost all everyday payment situations, including at retail checkouts, transactions among family and friends, online purchases, and payments to or from public authorities. Furthermore, it would be the first digital currency which could be used both online and offline. That is to say, also in the event of a loss of internet reception.

    Moreover, the design of the digital euro would ensure that it would offer the highest possible level of user privacy, comparable only to cash. No other digital means of payment in Europe currently offers all these features.

    Despite the many benefits the digital euro would bring for Europe as a whole, we must, nevertheless, proceed with caution. The introduction of a digital euro raises important questions about privacy, security, and the impact on financial stability and monetary policy. We must ensure that the digital euro upholds the highest standards of data protection, that it is resilient against cyber threats, and that it does not have a negative impact on financial stability.

    5 Wholesale CBDC

    Digitalisation raises questions not only in terms of how we intend to continue providing access to central bank money for our European citizens in future, but also in terms of how we intend to supply money to our wholesale customers. It is and will remain essential that we are able to settle digital transactions using new and innovative technologies, such as distributed ledger technology (DLT) in central bank money. An entire ecosystem is currently evolving around the tokenisation of securities, which involves all parts of the financial system.

    Like other financial players, the Bundesbank, and also the Eurosystem as a whole, see the significant benefits that the use of these new technologies can bring. The advantages of DLT, such as automated settlement by means of smart contracts and reduced reconciliation needs, are clear.

    But to fully harness this potential, we also need an innovative settlement mechanism for the cash leg – one which settles transactions in central bank money. We are therefore working on developing wholesale solutions that enable banks to settle DLT-based financial market transactions in central bank money. 

    The Eurosystem recently completed an exploration phase together with the market, which ran from May to November 2024, during which we tested various new technologies for wholesale central bank money settlement using real transactions. The Bundesbank also participated in this exploration phase with its “Trigger solution”, which builds a bridge between DLT platforms and the conventional TARGET payment system. The feedback we have received from the market so far has been very positive. I think we can already say that the exploration phase was a complete success.

    The anticipated benefits of DLT are seen as having the potential to address and overcome the ecosystem’s current shortcomings, such as fragmentation, complexity, over-intermediation, and technological inefficiencies, which hinder the growth of a digital capital markets union. 

    By developing a new ecosystem from the ground up, it could be made more integrated and harmonised, featuring a “common set of rails” – a shared ledger or a network of fully interoperable ledgers – that would guarantee reachability, open access, and compatibility across the services of all participants.

    Our primary focus is now on implementing a short-term wholesale solution to meet the immediate and growing demands of the market. This will buy us some much-needed time to continue working on a vision for a long-term solution for wholesale CBDC. A solution which must ultimately go hand in hand with the evolving financial market ecosystem.

    6 Business-to-business (B2B) payments

    Alongside its work into the possible introduction of a digital euro and the exploration of wholesale CBDC, the ECB, together with the Eurosystem, has also been turning its focus to another area of payments – one which is increasingly gaining traction: business-to-business payments, or B2B payments for short.

    To fully leverage the potential of the evolving payments landscape in the area of CBDCs, last October the ECB organised a special focus workshop on innovations in B2B payments and the role central bank money could play. 

    This workshop provided a one-of-a-kind platform to learn more about the potential use cases out there in the market. Given the high level of interest shown in the first focus workshop, I’m sure this will not be the last one of its kind.

    7 Outlook

    Ladies and gentlemen,

    The introduction of the digital euro and the exploration of wholesale CBDC and B2B use cases are not just a technical exercise, but a clear commitment to the innovative strength and competitiveness of Europe.

    The Bundesbank and the Eurosystem are determined to play an active role in shaping this digital transformation.

    It is, however, crucial that we continue working together and pool our resources and expertise in order to fully exploit the opportunities offered by digitalisation to create a strong, stable and future-proof digital financial ecosystem for Europe.

    Thank you for your attention.

    MIL OSI Economics –

  • MIL-OSI Economics: Asian Development Blog: A Fork in the Road: Will Asia Prioritize Safety or Suffer Rising Fatalities?

    Source: Asia Development Bank

    While road fatalities in Asia and the Pacific have fallen 11% since 2010, progress remains uneven, with low- and middle-income countries lagging behind. Strengthening infrastructure, enforcing safety regulations, and securing sustainable financing are critical to meeting the UN Decade of Action for Road Safety goal.

    On average, one person dies on Asia’s roads every minute. In 2021 alone, the region recorded over 694,000 road fatalities—nearly 60% of the global total of 1.19 million, according to the World Health Organization. These deaths overwhelmingly occur in Asia’s low- and middle-income countries, which account for 99% of the region’s road fatalities.

    Road crashes in Asia have a particularly severe impact on young people. They are the leading cause of death for those aged 15 to 29, and the second leading cause of death for children aged 5 to 14. Vulnerable road users are disproportionately affected. In 2021, one-third of all road fatalities involved pedestrians and cyclists, while 35% involved motorized two- and three-wheelers.

    The WHO estimates that road traffic deaths have fallen by 5% globally from 2010. In comparison, Asia and the Pacific has outpaced this trend, achieving an overall reduction of 11%. Meanwhile, the overall landscape indicates mixed progress across the region. While 67% of countries in the region have reduced road fatalities, only eight achieved a substantial decrease of 30% or more.

    Most of the decline in road fatalities has occurred in high-income Asian countries, which saw a 46% reduction between 2010 and 2021—an average decrease of 5% per year. In contrast, low- and middle-income countries in the region achieved only a 4% reduction over the same period, with an average annual decline of just 0.3%.
    While progress is being made, accelerated efforts are needed to realize the target. If current trends continue, about two-thirds of countries in the region — accounting for 86% of current road crash fatalities — will not be able to achieve the UN Decade of Action for Road Safety goal of achieving a 50% reduction.  

    While discrepancies exist between the various available datasets, they all paint the same scenario, that the majority of the countries in Asia will fail to meet the 2030 target under current trajectories.

    Regulations in the region focus on users and usage of the roads. For example, 97% of Asian countries have a national law setting speed limits, and 95% have national motorcycle helmet laws.

    With nearly 1.8 billion Asian people lacking access to urban transit and rural roads, countries must invest in safer road infrastructure.

    Targeted steps are needed to establish safe systems — which look beyond individual road behavior and address the underlying environment affecting road user safety, including safe roads and roadsides; safe vehicles; post-crash care; safe speeds and safe road use.

    For example, technical standards for new roads – which affect all road users – are only present in 78% of the countries. Only half have targets to have their streets meet “technical safety standards for all users.”

    There is a dire need to accelerate the improvement of road infrastructure. For example, road user surveys utilizing the IRAP star rating system indicate that the share of roads in Asia with good (3 stars or more) ratings is still quite low. With nearly 1.8 billion Asian people lacking access to urban transit and rural roads, countries must invest in safer road infrastructure.

    On the institutions, while 95% of Asian countries have identified national focal agencies for implementing road safety action plans, more detailed responsibilities also need focal points. Less than half of the countries in the region have identified funds to implement their road safety strategies.    

    Targets and ambitions also need to increase and expand. In the last two decades, Asian countries have added a billion vehicles to the road, and projections suggest that countries will motorize further. However, it is concerning to note that only 68% of the countries in the region have legislation on periodic vehicle technical inspection. 

    Also, considering the import of used vehicles in developing countries, only 56% of the developing countries in the region have high-quality standards for used vehicle imports. 

    Measures—and their implementation—matter. The case of the Republic of Korea, which now leads Asia in terms of progress towards the 2030 target, shows that regulations backed by effective implementation can result in significant impact, saving lives and reducing serious injuries.

    Broader uptake of monitoring mechanisms is also crucial for elevating our collective awareness of road safety, particularly for low- and middle-income countries. 

    The Asian Transport Observatory, for example, has developed road safety profiles for Asian economies. These can support the monitoring of progress towards the implementation of the Global Plan for the Decade of Action for Road Safety 2021-2030.  

    The overall road safety landscape in Asia presents progress but also persistent challenges. We need to turn incremental improvements into transformative actions. This includes boosting investments and standards for safer infrastructure; strengthening and enforcing regulations for ensuring safe vehicles, securing sustainable financing to implement road safety strategies; strengthening institutional capacities and accountability; and enhancing monitoring systems. 

    We are at a turning point, not just a checkpoint, towards achieving the collective goal towards reducing road fatalities. 

    This blog post is related to 4th Global Ministerial Conference on Road Safety, which assesses the progress in implementing the Global Plan for the Decade of Action for Road Safety 2021-2030. The plan aims to achieve a 50% reduction in road traffic fatalities by 2030. Sudhir Gota, Co-Team Lead, Asian Transport Observatory, contributed to this article.

    MIL OSI Economics –

  • MIL-Evening Report: Will New Zealand invade the Cook Islands to stop China? Seriously

    The Chinese have politely told the Kiwis to back off.  Foreign Ministry spokesperson Guo Jiakun told reporters that China and the Cook Islands have had diplomatic relations since 1997 which “should not be disrupted or restrained by any third party”.

    “New Zealand is rightly furious about it,” a TVNZ Pacific affairs writer editorialised to the nation. The deal and the lack of prior consultation was described by various journalists as “damaging”, “of significant concern”, “trouble in paradise”, an act by a “renegade government”.

    Foreign Minister Winston Peters, not without cause, railed at what he saw as the Cook Islands government going against long-standing agreements to consult over defence and security issues.

    “Should New Zealand invade the Cook islands?” . . . New Zealand Herald columnist Matthew Hooton’s view in an “oxygen-starved media environment” amid rattled nerves. Image: New Zealand Herald screenshot APR

    ‘Clearly about secession’
    Matthew Hooton, who penned the article in The Herald, is a major commentator on various platforms.

    “Cook Islands Prime Minister Mark Brown’s dealings with China are clearly about secession from the realm of New Zealand,” Hooton said without substantiation but with considerable colonial hauteur.

    “His illegal moves cannot stand. It would be a relatively straightforward military operation for our SAS to secure all key government buildings in the Cook Islands’ capital, Avarua.”

    This could be written off as the hyperventilating screeching of someone trying to drum up readers but he was given a major platform to do so and New Zealanders live in an oxygen-starved media environment where alternative analysis is hard to find.

    The Cook Islands, with one of the largest Exclusive Economic Zones in the world — a whopping 2 million sq km — is considered part of New Zealand’s backyard, albeit over 3000 km to the northeast.  The deal with China is focused on economics not security issues, according to Cooks Prime Minister Mark Brown.

    Deep sea mining may be on the list of projects as well as trade cooperation, climate, tourism, and infrastructure.

    The Cook Islands seafloor is believed to have billions of tons of polymetallic nodules of cobalt, copper, nickel and manganese, something that has even caught the attention of US Secretary of State Marco Rubio. Various players have their eyes on it.

    Glen Johnson, writing in Le Monde Diplomatique, reported last year:

    “Environmentalists have raised major concerns, particularly over the destruction of deep-sea habitats and the vast, choking sediment plumes that excavation would produce.”

    All will be revealed
    Even Cook Island’s citizens have not been consulted on the details of the deal, including deep sea mining.  Clearly, this should not be the case. All will be revealed shortly.

    New Zealand and the Cook Islands have had formal relations since 1901 when the British “transferred” the islands to New Zealand.  Cook Islanders have a curious status: they hold New Zealand passports but are recognised as their own country. The US government went a step further on September 25, 2023. President Joe Biden said:

    “Today I am proud to announce that the United States recognises the Cook Islands as a sovereign and independent state and will establish diplomatic relations between our two nations.”

    A move to create their own passports was undermined by New Zealand officials who successfully stymied the plan.

    New Zealand has taken an increasingly hostile stance vis-a-vis China, with PM Luxon describing the country as a “strategic competitor” while at the same time depending on China as our biggest trading partner.  The government and a compliant mainstream media sing as one choir when it comes to China: it is seen as a threat, a looming pretender to be South Pacific hegemon, replacing the flip-flopping, increasingly incoherent USA.

    Climate change looms large for island nations. Much of the Cooks’ tourism infrastructure is vulnerable to coastal inundation and precious reefs are being destroyed by heating sea temperatures.

    “One thing that New Zealand has got to get its head round is the fact that the Trump administration has withdrawn from the Paris Climate Accord,” Dr Robert Patman, professor of international relations at Otago University, says. “And this is a big deal for most Pacific Island states — and that means that the Cook Islands nation may well be looking for greater assistance elsewhere.”

    Diplomatic spat with global coverage
    The story of the diplomatic spat has been covered in the Middle East, Europe and Asia.  Eyebrows are rising as yet again New Zealand, a close ally of Israel and a participant in the US Operation Prosperity Guardian to lift the Houthi Red Sea blockade of Israel, shows its Western mindset.

    Matthew Hooton’s article is the kind of colonialist fantasy masquerading as geopolitical analysis that damages New Zealand’s reputation as a friend to the smaller nations of our region.

    Yes, the Chinese have an interest in our neck of the woods — China is second only to Australia in supplying much-needed development assistance to the region.

    It is sound policy not insurrection for small nations to diversify economic partnerships and secure development opportunities for their people. That said, serious questions should be posed and deserve to be answered.

    Geopolitical analyst Dr Geoffrey Miller made a useful contribution to the debate saying there was potential for all three parties to work together:

    “There is no reason why New Zealand can’t get together with China and the Cook Islands and develop some projects together,” Dr Miller says. “Pacific states are the winners here because there is a lot of competition for them”.

    I think New Zealand and Australia could combine more effectively with a host of South Pacific island nations and form a more effective regional voice with which to engage with the wider world and collectively resist efforts by the US and China to turn the region into a theatre of competition.

    We throw the toys out
    We throw the toys out of the cot when the Cooks don’t consult with us but shrug when Pasifika elders like former Tuvalu PM Enele Sopoaga call us out for ignoring them.

    In Wellington last year, I heard him challenge the bigger powers, particularly Australia and New Zealand, to remember that the existential threat faced by Pacific nations comes first from climate change. He also reminded New Zealanders of the commitment to keeping the South Pacific nuclear-free.

    To succeed, a “Pacific for the peoples of the Pacific” approach would suggest our ministries of foreign affairs should halt their drift to being little more than branch offices of the Pentagon and that our governments should not sign up to US Great Power competition with China.

    Ditching the misguided anti-China AUKUS project would be a good start.

    Friends to all, enemies of none. Keep the Pacific peaceful, neutral and nuclear-free.

    Eugene Doyle is a community organiser and activist in Wellington, New Zealand. He received an Absolutely Positively Wellingtonian award in 2023 for community service. His first demonstration was at the age of 12 against the Vietnam War. This article was first published at his public policy website Solidarity and is republished here with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Submissions: Myanmar: Recklessly abrupt US aid stoppage poses existential threat to human rights – Amnesty International

    Source: Amnesty International

    The United States government’s abrupt and sweeping freeze on foreign aid is severely imperiling the human rights of refugees, civilians in armed conflict areas and individuals fleeing persecution in Myanmar, Amnesty International said today.

    The organization warned that lives could be lost unless the decision is urgently reversed, amended or if waivers for life-saving assistance are not immediately granted and swiftly implemented for those working on the ground.

    “The Trump administration’s cruel decision to issue immediate stop work orders on foreign aid is having an instant and devastating impact across the globe, and in Myanmar it is hitting people at a particularly dark hour,” said Amnesty International’s Myanmar Researcher Joe Freeman.

    “The decision has abruptly shut down hospitals in refugee camps, put fleeing human rights defenders at risk of deportation and imperiled programs helping people prevent atrocities, survive in conflict zones and rebuild their lives amid ongoing waves of violence.”

    On 20 January, US President Donald Trump signed a presidential executive order pausing all foreign aid amid a 90-day review of whether it is consistent with American foreign policy. On 24 January, US Secretary of State Marco Rubio issued a stop work order to those delivering assistance worldwide as part of the review, but carved out exemptions to the pause for emergency food assistance, as well as military aid to Israel and Egypt.

    An additional waiver dated 28 January exempted “life-saving humanitarian assistance” from the stoppage, while follow-up clarifications in the first week of February broadened the exemptions for specific activities. However, based on Amnesty’s latest research, implementation of these waivers has yet to trickle down to many organizations working along the Thai-Myanmar border.

    “The US government’s shocking move has had immediate global impacts whose real-life consequences are still being felt and understood. Our findings from Myanmar and Thailand provide just one example of the damage wrought by this heartless decision,” Joe Freeman said.

    In Myanmar, the funding pause has further devastated a civilian population already enduring escalating armed conflict, widespread displacement and severe human rights violations by a military that seized power in a coup more than four years ago. It has also sowed chaos, desperation and anguish among tens of thousands of Myanmar refugees living in Thailand.

    To date, US funding has helped many endure the upheaval by supporting emergency shelter or relocation for activists, delivering food aid, helping create early-warning systems for air strikes, delivering medical treatment in war zones and providing education opportunities to those who have lost all hope of a future.

    From 3-10 February, Amnesty International spoke to 12 Myanmar refugees living in camps along the border in Thailand, along with representatives from 14 organizations with Myanmar-focused activities. They include health workers, human rights researchers and NGOs providing cross-border assistance as well as media and education providers. All warned of severe consequences if the decision was not reversed or amended. Not one had received a communication or confirmation of a waiver from the US government to continue operations.

    ‘The mission is not to die”

    Despite the promise of waivers for life-saving humanitarian assistance, the aid stoppage is posing serious risks to the rights to health of more than 100,000 people living in nine refugee camps on the Thai side of the border with Myanmar. The majority have been there for years, fleeing previous waves of violence in Myanmar, but the camps have grown in size since the coup.

    Amnesty International spoke to refugees living in two separate camps along the border. All said hospitals in the camp, which are run by the International Rescue Committee (IRC) through USAID funding, had abruptly shut down after the stop work order. Though Thai authorities and hospitals have been able to step in and provide services for camp residents, their resources are stretched. As of 11 February, the IRC had still not received a waiver to continue their work.

    The impact of the initial shutdown was felt immediately. In the Umpien camp, for example, residents said at least four people have died as a result of not receiving oxygen provided by the hospitals. Amnesty could not independently confirm the claim. Reuters reported on 7 February that Pe Kha Lau, 71, died four days after she was sent home from a healthcare facility funded by the US through the IRC.

    “It was so scary, they forced everyone to go out of the hospital…and some people died because they lost their oxygen. We were not only sad but also scared of what is coming next,” said U Htan Htun, 62.

    Ma Su Su, a volunteer community medical worker in the Umpien camp, also said that on the day the order was announced people who needed treatment were told to leave the hospital. She said she witnessed staff removing an IV-drip from a patient and described how someone without proper training had to provide stitches to a wounded resident.

    “I told everyone it’s only 90 days. We’ll be okay after 90 days. But I feel hopeless,” she said. “The mission is not to die.”

    Water services at the camps were disrupted, according to residents, while food aid is also at risk of disappearing.

    Maximillian Morch from the Thai Border Consortium (TBC), which provides food and cooking fuel to all the nine camps along the Thai-Myanmar border, said they were trying to get approval for a life-saving waiver from the US government but had no confirmation yet.

    Just over 60% of the Consortium’s funding is from the US through the Bureau of Population, Refugees and Migration (PRM) at the US State Department. The bulk of that is food and cooking assistance. While they have not been told to stop work, they will run out of funds for food in four to six weeks if their funding is discontinued as part of the review of foreign aid.

    “Food is as inoffensive as you can be. And if you stop funding food this is not just a TBC problem, it’s an international humanitarian problem,” Morch said.

    “Very tough days for us”

    Since the Myanmar military took power in a 2021 coup, armed conflict has intensified across the country. Ever-increasing military air strikes have killed civilians and targeted schools, hospitals and monasteries, while elsewhere the military has targeted protesters, activists and journalists. Funded by USAID, civil society organizations across Myanmar help civilians, journalists and human rights defenders find shelter, aid and safety in exile if they have to flee the country.

    Groups in southeastern Myanmar, an area particularly hard-hit by military air strikes, run several US-funded programs which can be considered life-saving. They provide mobile medical units in frontline areas, help pay for hospital referrals for more advanced care and assist civilians in the aftermath of an air strike to find food and shelter.

    “At the same time as all the air strikes, all the bombings…artillery attacks, displacement…the funding has been stopped,” said Saw Diamond Khin, director of the Karen Department of Health and Welfare, which assists seven districts in southeastern Myanmar. “It is very tough days for us.”

    No waivers for life-saving work

    Saw Thar Win, from the Ethnic Health Systems Strengthening Group, said his organization had planned to deliver portable, battery-charged ultrasound and X-ray machines to conflict-affected communities in Myanmar. One set can serve an estimated 50,000 people. But the stop work order meant the machines were just sitting in boxes in his office because the funding for transporting it had been impacted.

    Another community-based health provider said the pause in US funding meant that they can no longer support urgent life-saving treatment inside Myanmar. Their funding had supported costs for emergency surgery to treat wounds from air strikes or other armed conflict injuries, as well as neonatal emergency treatment and surgery for appendicitis and blood transfusions.

    Despite the announcement of waivers at the end of January, medicines for HIV, tuberculosis and malaria, as well as support for mental health services for those traumatized by the armed conflict, have been similarly affected. Not one group Amnesty spoke to said they had been given any communication or confirmation of a waiver for life-saving work, even though their operations, such as helping feed, shelter and treat people in war zones, would clearly qualify.

    All said they lacked clear communication from US agencies such as USAID and their partners on the grounds. The Overseas Irrawaddy Association – which provides emergency relocation for hundreds of activists inside Myanmar, where protesters are routinely imprisoned and tortured by the military – said the freeze has affected their ability to support hundreds of at-risk individuals.

    “By removing the ability of these organizations to protect some of the most vulnerable people inside Myanmar, the US is effectively giving the rights-abusing Myanmar military an invaluable gift in their crackdown on the right to freedom of expression and information,” Freeman said.

    “People are now more vulnerable to arrest, to torture, and for those who have fled to Thailand and rely on funding for shelter, to deportation back to Myanmar. The US must immediately and directly communicate that groups working on life-saving assistance in Myanmar can continue their work.”

    MIL OSI – Submitted News –

  • MIL-OSI United Kingdom: CNC celebrates National Apprenticeship Week

    Source: United Kingdom – Executive Government & Departments

    In its first year, the Civil Nuclear Constabulary (CNC) apprenticeship programme has reached the 100-apprentice milestone.

    Chief Constable Simon Chesterman meeting AFOs.

    Announced last year during National Apprenticeship Week, the Level Four Non-Home Office Police Officer Apprenticeship (NHOPOA) trains recruits to the National Police Firearms Training Curriculum and takes place across our delivery centres in Oxfordshire and Cumbria.

    The first 19 weeks of the course is a residential Initial Foundation Programme which includes our highly regarded firearms training, and for the remaining 20 months of the course recruits are posted as Authorised Firearms Officers (AFOs) at nominated Operational Policing Units (OPUs) to complete a portfolio of evidence to demonstrate their policing ability. After passing an End Point Assessment, the apprentices are confirmed in rank. 

    The celebrations continue this week as the CNC can announce that it recently passed its first Ofsted inspection, receiving praise for its training, practices, and positive recommendations for the future. This achievement demonstrates the force’s commitment to the learning and development of our people.

    Chief Superintendent, Sheree Owen, Head of Training, reflects positively on the recent Ofsted inspection: “I am delighted with the outcome of the recent no-notice monitoring visit by Ofsted, the final grading for this will be published by Ofsted in the next two months.

    “The feedback from inspectors was very positive, and highlighted the huge effort put into delivering this from many across the CNC, those within the training division, from policing skills instructors and NFIs, the Professional Development Units and tutor constables to the HQ staff who supported the project, the planners, finance team and operational support colleagues.

    “We look forward to our full inspection in the next eighteen months.”

    Inspector Stuart Rodgers, Apprenticeship Manager, also said: “My thanks to the apprentices for their hard work and commitment to learning new knowledge and skills, everyone at our training venues and to all those tutors who volunteer their time and effort to ensure our new people settle in well and complete their work to a high standard.”

    Updates to this page

    Published 13 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Partnership work leads to trader sentencing in illegal tobacco crackdown

    Source: City of Stoke-on-Trent

    Published: Thursday, 13th February 2025

    A trader in Stoke-on-Trent has been sentenced following a crackdown on illegal tobacco.

    The operation was thanks to partnership working between Stoke-on-Trent City Council’s Trading Standards team and Staffordshire Police.

    Ismail Mohammed, who ran ‘Waterloo Stores’ at 80 Waterloo Road, Burslem, received a nine-month suspended sentence, 100 hours of unpaid work, and had his tobacco and cash seized.

    The sentencing took place on Wednesday, 6 February 2025, at Stoke-on-Trent Crown Court, following Mr. Mohammed’s conviction on 8 July 2024. He pleaded guilty to the possession of criminal property (£6,310 in cash) and to entering into an arrangement to acquire, use, or control criminal property – in this case counterfeit and non-duty-paid tobacco.

    It follows a successful investigation which began in 2019, into illegal tobacco sales at the shop, leading to a raid on residential properties in Hanley.

    Officers seized 1,390 packs of illegal cigarettes and £17,000 in cash. Undercover test purchases also confirmed illegal tobacco sales at the Waterloo Road store.

    Councillor Amjid Wazir OBE, cabinet member for city pride, enforcement and sustainability at Stoke-on-Trent City Council said: “This case is another great example of partnership work making Stoke-on-Trent a safer place. The work carried out by our Trading Standards team sends a clear message—illegal tobacco sales will not be tolerated. Those involved in the storage, distribution, or sale of illicit tobacco will face serious consequences.

    “The trade in illegal tobacco harms legitimate businesses, provides a cheap source of cigarettes for children and young people, and undermines efforts to reduce smoking rates. Illegal tobacco sales are also often linked to wider criminal activity.

    “Our message is clear, those engaging in crime will be held accountable. We are committed to making Stoke-on-Trent a greener, fairer, cleaner, and safer city for all.”

    Inspector Victoria Ison, from the Stoke North local policing team, said: “We are pleased to support the local authority and Trading Standards in their work to disrupt the sale of illegal tobacco and cigarettes.

    “These items not only risk public health, but also have a significant impact on legitimate sellers and local businesses who are operating within the law.

    “We hope the outcome reassures the community we are committed to working with partners to tackle this issue and associated criminality.”

    Mr. Mohammed had previously been prosecuted for selling counterfeit cigarettes at another Stoke-on-Trent shop, where he was fined.

    Anyone concerned about illegal tobacco, underage sales, or restricted products such as knives and vapes can report them through the Trading Standards hotline at 01782 238444 or visit www.stoke.gov.uk/tradingstandards  

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Russia’s deceit did not work in 2022 and it will not work now: UK statement to the OSCE

    Source: United Kingdom – Government Statements

    Ambassador Holland recalls Russia’s deceit at the OSCE in the weeks leading up to their full-scale invasion of Ukraine and reiterates that UK will support Ukraine to achieve a just and lasting peace.

    Thank you, Mister Chair.  In just over a week, we will reach yet another unwelcome milestone: three years since Russia launched its illegal and unprovoked full-scale invasion of its sovereign neighbour, Ukraine.

    A war that Russia believed would be over in three days will enter a fourth year.  A war Russia launched under the false pretext of protecting Ukrainian civilians has instead caused thousands of them to be killed.  A war which we were told would not happen has, since those denials, violated every principle of the Helsinki Final Act and demonstrated contempt for the rules that govern armed conflict.

    Let us recall, using their own language,  what Russia told us in the days and weeks leading up to their full-scale invasion.  On the 20th of January, we were told that “the myth of Russia’s alleged impending” invasion had been “hyped up.”  On the 3rd of February we were told that the speculation of an invasion was “unsubstantiated conjectures”.  This was an “information campaign being whipped up primarily by the United States and the United Kingdom”.  On the 10th of February, apparently the facts showed that these were “scare stories” and nothing more than “a puff of propaganda and idle talk”.

    We all know what happened on the 24th of February.  The records of our meetings offer incontrovertible evidence of Russia’s disinformation and deceit.  It continues to this day, week in and week out.

    Mister Chair, on that note we have recently heard Russia single-out on multiple occasions the UK’s role in providing military support to Ukraine.   The UK makes no secret of our unbreakable support for Ukraine.  We have agreed a new 100-year partnership with Ukraine.  We are proud to have committed to providing £3 billion of military aid to Ukraine every year for as long as is needed.  I want to be clear, though – this is not about fuelling war but supporting an innocent, sovereign and independent State in an ongoing defence against a barbaric onslaught that Russia assured us would never happen.

    We have always said that we will support Ukraine to achieve a just and lasting peace.  Our priority remains to put Ukraine in the strongest possible position to achieve this.

    Thank you.

    Updates to this page

    Published 13 February 2025

    Invasion of Ukraine

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Tatyana Golikova: The goal of the national project “Personnel” is to coordinate the efforts of educational institutions, employment centers, companies and the state

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Deputy Prime Minister Tatyana Golikova addressed the participants, guests and organizers of the “Personnel” forum with a video greeting.

    Welcome speech by Tatyana Golikova to the participants, guests and organizers of the forum “Personnel”

    14 hours ago

    Dear colleagues!

    I am pleased to welcome you to the “Personnel” forum as part of the now traditional Russian Business Week, organized by the Russian Union of Industrialists and Entrepreneurs.

    Russian President Vladimir Vladimirovich Putin has repeatedly emphasized: “Human resources are an absolute value that must be treated responsibly, protected, strengthened, and resources and investments must be invested in this area.”

    Competent, skilled, and dedicated employees are always important. But today, when our country faces the challenges of technological leadership and industrial sovereignty, the team literally becomes the defining resource.

    Over the past few years, the labor market has undergone dramatic changes. Demographics, the growth of labor-intensive industries, and the established labor productivity have significantly influenced the transformation of the labor market and the formation of its new model. Demand for employees will grow, while the unemployment rate will remain at a historical minimum.

    The answers to these challenges cannot be found in education, employment or business alone.

    In order to provide the economy with in-demand specialists, a new national project, “Personnel,” was launched this year on the instructions of the President. Its goal is to coordinate the efforts of educational institutions, employment centers, companies, and the state.

    The national project includes four federal projects: “Labour Market Management”, “Education for the Labour Market”, “Active Measures to Promote Employment” and “Labour Person”. Their implementation over the next six years will allow the necessary labour resources to be involved in the economy.

    A lot of work has been done to form a forecast of personnel needs for a five-year period. According to our estimates, the Russian economy’s need for personnel up to 2030 is 3.1 million people. The greatest growth is expected in manufacturing (more than 703 thousand people), transportation and storage (about 472 thousand people) and construction (more than 385 thousand people).

    The need for personnel arises not only in connection with the opening of new jobs, but also in connection with the need to replace those specialists who are retiring. Therefore, it is necessary to plan work not only based on the formation of a reserve for development plans, but also taking into account the age composition of workers, competition between industries and forms of employment.

    From the forecast we see that skilled workers are becoming the most valuable labor reserve. Specialists with secondary vocational education account for 70% of the replacement demand of the labor market.

    The forecast of personnel needs will become the basis for the formation of control figures for admission to the system of secondary and higher education. And our task is to build a flexible, effective system of training specialists to meet the demands of the economy. Young specialists must be as prepared as possible for the beginning of their working career.

    We have launched a system for monitoring graduate employment and are developing a program for individual support for students. This will help to form the necessary internship and practice base for students during their studies, to get acquainted with enterprises, and to find an employer.

    We are improving the labor market management system by transforming employment centers into “Work of Russia” personnel centers. They are becoming full-fledged partners of employers in building teams and personal consultants for those wishing to build a career. This year, comprehensive modernization will take place in 17 regions, and by the end of 2028, the entire employment service system in the country will be updated.

    Simply selecting vacancies is not relevant now, our task is to give enterprises the opportunity to create strong and effective teams. There are all the tools for this – targeted training, hiring subsidies, assistance in equipping workplaces for people with special needs, free retraining for adults – we carried it out within the framework of the national project “Demography” (in six years we covered almost 1 million job seekers) and will continue within the framework of the national project “Personnel”, orienting programs directly to the order of employers.

    Today, the Government is implementing projects to increase the prestige of sought-after professions. Measures to support the sphere of corporate training are being developed. From this year, we intend to co-finance training in corporate and training centers of enterprises. We are conducting systematic work to find sources and select specialists for the needs of our economy.

    Achieving the goals of ensuring the economy’s personnel sovereignty, as I have already said, is only possible in partnership. And we are counting on a number of actions from employers.

    We see and welcome a consistent increase in wage levels, as well as an increase in labor productivity with concern for the preservation of human resources.

    The involvement and active participation of employers in personnel training – participation in career guidance work, inclusion in the procedure of targeted training, the formation of a responsible personnel order through a forecast of personnel needs – all this will allow us to set up systemic work to prepare a sufficient number and quality of specialists.

    And of course, the most important issue is the joint promotion of in-demand professions.

    Taking this opportunity, I would like to remind you: starting this year, on the instructions of the President, we are rebooting the All-Russian competition of professional skills “Best in Profession”. Its regional stages will start already in the spring. This year, 19 nominations are dedicated to in-demand blue-collar professions, and a special nomination – “Second Start” – will allow everyone who has retrained in blue-collar professions to participate. I invite your teams to participate in this competition.

    I wish all participants, guests and organizers of the forum meaningful discussions, the conquest of new professional heights and the achievement of the most ambitious goals for the benefit of our country and its citizens!

    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 United Kingdom: Update on UK Syria sanctions regime: Minister Doughty statement

    Source: United Kingdom – Executive Government & Departments

    Written statement to the House of Commons on adapting the UK’s Syria sanctions regime following the fall of Assad’s dictatorship late last year.

    Today I am updating the House on the future of the UK’s Syria sanctions regime following the welcome fall of Assad’s dictatorship late last year.

    Sanctions remain a powerful foreign and security policy tool, and this Government is committed to maximising their impact, which includes reviewing their use in light of changing circumstances.

    Therefore, I am pleased to inform the House that the Government will bring forward measures in the coming months adapting the Syria sanctions regime, including amendments to the Syria Regulations, which Members of Parliament will have the opportunity to debate.

    We are making these changes to support the Syrian people in re-building their country and promote security and stability. They will include the relaxation of restrictions that apply to the energy, transport and finance sectors, and provisions to further support humanitarian delivery.

    The Government remains determined to hold Bashar al-Assad and his associates to account for their actions against the people of Syria. We will ensure that asset freezes and travel bans imposed on members of the former regime remain in force.

    In this way, the FCDO will continue to use sanctions in a manner that is targeted, proportionate and robust to hold accountable those responsible for atrocious crimes committed during Assad’s reign and to support what we hope will be Syria’s transition to a more secure, prosperous and stable future.

    Updates to this page

    Published 13 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: MASH to be delivered by Isle of Wight Children’s Services 13 February 2025 Multi-Agency Safeguarding Hub to be delivered by Isle of Wight Children’s Services

    Source: Aisle of Wight

    The delivery of the Isle of Wight’s Multi-Agency Safeguarding Hub (MASH) for children and families on the Isle of Wight is changing.

    As of Monday 24 February, the Isle of Wight Children’s Services will have its own Multi-Agency Safeguarding Hub (MASH), following the ending our partnership with Hampshire County Council. The Multi-Agency Safeguarding Hub (MASH) is a collaborative initiative that unites professionals from various sectors, including children’s social care, police, health providers, and education. The primary goal of the MASH is to share critical information and make timely, informed decisions to ensure the safety and promote the welfare of children. By working together, these professionals can identify risks early, provide appropriate interventions, and promote the well-being of children in our community.

    The Isle of Wight Council, along with its partner agencies, holds a statutory duty to safeguard children and promote their welfare. This duty is fulfilled through coordinated efforts and a shared commitment to protecting children from harm. By leveraging the collective expertise and resources of all involved agencies, the MASH ensures that children receive the support and protection they need in a timely and effective manner.

    If Island residents are worried about the welfare or safety of a child they can report any concerns through the Isle of Wight Council’s website or by calling 01983 823435.

    To reflect these changes, from the 24 February the  Inter-Agency Referral Form (IARF)  will be found on the Isle of Wight Council’s website, and the Isle of Wight Safeguarding Children Partnership website. The link will be shared via email with all partner agencies

    Statement from the Director of Children’s Services

    ”We are delighted to announce that the multi-agency safeguarding hub for our children and families on the Island is now being delivered in-house by Isle of Wight Children’s Services. This significant milestone reflects our unwavering commitment to providing the highest level of care and protection for the children in our community.

    We extend our heartfelt gratitude to Hampshire County Council for their invaluable support and collaboration over the past years. We also extend our thanks to the Isle of Wight Safeguarding Children Partnership, their expertise and dedication have been instrumental in helping us reach this point, and we look forward to continuing our strong partnership as we move forward.

    Together, we are making a profound difference in the lives of children and families on the Isle of Wight.”

    Further information on what this means can be found on the Isle of Wight Council’s website.

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: UNECE Inland Transport Committee advances international cooperation for sustainable and resilient future of transport

    Source: United Nations Economic Commission for Europe

    Gathering at this week’s 87th annual session of the UNECE Inland Transport Committee (ITC) at the Palais des Nations in Geneva, global transport leaders shared commitments aimed at  forging a sustainable, efficient, and resilient future of inland transport. 

    Looking to 2030 and beyond – and recognizing the need for scaled-up action in response to climate change, technological advancements, and shifting global trade patterns – several countries announced pledges that reaffirm their commitment to regional cooperation, enhanced connectivity, innovation, and environmental sustainability in inland transport. 

    “The challenges before us are immense, but so are the opportunities,” noted UNECE Executive Secretary Tatiana Molcean at the opening of the session. “We are here today to chart the course for the future, ensuring that inland transport is not only a driver of economic growth but also a catalyst for sustainability, resilience, and innovation.” 

    Enhanced connectivity and sustainability  

    The Netherlands and Türkiye pledged to continue supporting efforts to advance digitalization, infrastructure development, and border-crossing efficiency along the Trans-Caspian and Almaty-Tehran-Istanbul corridors, with a strong emphasis on greening the corridors, reducing their environmental impact, and lowering greenhouse gas emissions.  

    This joint commitment highlights the importance of collaboration to advance regional integration, promote sustainable transport practices, and enhance the economic and environmental performance of these strategic corridors.   

    “Transport corridors provide an essential backbone structure for the functioning of our economies,” said Chris Jansen, Minister for the Environment and Public Transportation of The Netherlands. “Let us try to unlock this potential together and use our combined efforts of cooperation within the UNECE Inland Transport Committee to achieve this work.”  

    “By strengthening our transport corridors, we will also make significant contributions to reducing economic inequalities between regions, facilitating access to markets for underdeveloped regions and promoting sustainable development,” emphasized Abdulkadir Uraloğlu, Minister of Transport and Infrastructure of Türkiye. 

    Advancing decarbonization and innovation 

    Underlining ITC’s unique role as the only global UN platform for road, rail and inland waterway transport, Georgia, The Netherlands and Türkiye reaffirmed their commitment to leverage its capacity to drive innovation and strategic foresight in the inland transport sector.  

    The three countries pledged to support the effective implementation of the ITC Decarbonization Strategy and to contribute to its other critical work streams, including climate change adaptation for transport infrastructure, cycling infrastructure, e-mobility, and the use of GIS mapping for transport infrastructure planning through the International Transport Infrastructure Observatory. 

    Accelerating e-mobility and smart charging solutions 

    Recognizing that inland transport sector plays a pivotal role in achieving global climate goals, The Netherlands and Türkiye pledged to support the UNECE Informal Task Force on E-Mobility to advance zero-emission policies, align regulatory frameworks, and facilitate the development of critical infrastructure for alternative energy carriers, in particular electric mobility, alongside hydrogen and biofuels.  

    The Netherlands will lead efforts on smart charging and energy system optimization, while Türkiye will spearhead best practices for EV infrastructure planning. 

    In line with the ITC Decarbonization Strategy, Germany pledged to work to swiftly expand the charging infrastructure for electric vehicles and to drive the uptake of climate-friendly fuels. Furthermore, Germany committed to fostering key technology innovations, such as automated/autonomous driving on the road to reach a more sustainable, safe, digital, accessible and affordable mobility. 

    Global relevance of ITC work 

    Reflecting the global relevance of ITC not only in harmonization of vehicle standards, but also in development of transport infrastructure, and smart and clean mobility solutions, Cambodia announced that it will seek to actively participate in the UNECE World Forum for Harmonization of Vehicle Regulations (WP.29) and join working parties dealing with the transport of dangerous goods, intermodal transport and logistics, as well as to join the Agreement concerning the International Carriage of Dangerous Goods by Road (ADR).   

    As a small island developing state, facing frequent storm surges and flooding that threaten its critical road network, Seychelles appreciated the ITC as a vital platform to advance solutions for climate-resilient road infrastructure, maintenance and environmentally friendly engineering, as well as energy-efficient public transport options.  

    MIL OSI United Nations News –

  • MIL-OSI: Himax Technologies, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results; Provides First Quarter 2025 Guidance

    Source: GlobeNewswire (MIL-OSI)

    Q4 2024 Revenues, Gross Margin and EPS All Surpassed Guidance Range Issued on November 7, 2024
    Company Q1 2025 Guidance: Revenues to Decrease 8.5% to 12.5% QoQ,
    Gross Margin is Expected to be Around 30.5%. Profit per Diluted ADS to be 9.0 Cents to 11.0 Cents

    • Q4 2024 revenues registered $237.2 million, an increase of 6.7% QoQ, significantly exceeding guidance range of a slight decrease to flat, primarily driven by stronger order momentum across product lines
    • Q4 2024 Gross margin reached 30.5%, exceeding guidance of flat to slightly up, driven by a favorable product mix and cost improvements. Up from 30.0% in the Q3 2024
    • Q4 2024 after-tax profit was $24.6M, or 14.0 cents per diluted ADS, considerably above the guidance range of 9.3 cents to 11.0 cents
    • Company’s full year 2024 revenues were $906.8 million, and gross margin was 30.5%. 2024 profit attributable to shareholders was $0.46 per fully diluted ADS
    • Company’s Q1 2025 revenues to decline 8.5% to 12.5% QoQ, reflecting the low season demand due to Lunar New Year holidays. The Q1 revenue guidance implies flat to 4.6% increase YoY. Gross margin to be around 30.5%, up from 29.3% same quarter last year. Profit per diluted ADS to be in the range of 9.0 cents to 11.0 cents, implying the increase of 26% to 54% YoY
    • Himax sales revenues in each quarter of 2024 consistently outperformed guidance, demonstrating its ability to handle most of rush orders, underscoring its strong ability in inventory management and swift market responsiveness
    • Full year 2024 automotive driver IC sales increased nearly 20% YoY, significantly outpacing global automotive growth, largely driven by the continued TDDI adoption among major customers across all continents. Himax continues to reinforce its market leadership in automotive TDDI, holding well over 50% market share
    • Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. Small-scale production of the first-gen CPO underway, with acceleration of future CPO generation development, in close collaboration with AI customers/partners. Company believes prospect of CPO remains unchanged
    • WiseEye, building on the success with Dell, has achieved notable progress with other leading NB brands. Also made breakthroughs in smart door lock, palm vein authentication and smart home. Himax anticipates a strong growth trajectory in WiseEye business in 2025 and beyond
    • At CES 2025, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR
    • Rising enthusiasm in AR glasses with Gen AI in CES 2025. Himax offers three critical technologies for AR glasses, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI
    • Himax is well-positioned to capitalize on the trend of the premium NB to adopt OLED displays and touch features. Confident to lead in the rapidly evolving landscape of AI PCs and premium NB, offering a comprehensive IC portfolio for both LCD and OLED NB

    TAINAN, Taiwan, Feb. 13, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, announced its financial results for the fourth quarter and full year 2024 ended December 31, 2024.

    “In 2024, our sales revenues in each quarter consistently outperformed guidance. We have consistently demonstrated our ability to handle most of rush orders, underscoring our agility, adaptability, strong capabilities in inventory management, and swift market responsiveness,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax.

    “At CES this year, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR. Notably, a clear trend emerged at this year’s CES as the industry demonstrated growing enthusiasm for AR glasses, fueled by more companies entering the space and integrating generative AI to accelerate the development of lightweight, compact, and all-day AR glasses. For AR glasses, Himax offers three critical technologies, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI,” continued Mr. Jordan Wu.

    “Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. The prospect of CPO remains unchanged and the widespread adoption of CPO for data transmission to be conducted via optics instead of metal wire is on track in high-performance AI applications. Through WLO and CPO technologies, Himax is well-positioned to engage in the high-speed AI computing market with high expectations for its growth,” concluded Mr. Jordan Wu.

    Fourth Quarter 2024 Financial Results

    Himax net revenues registered $237.2 million, an increase of 6.7% sequentially, significantly exceeding Company’s guidance range of a slight decrease to flat, and up 4.2% year-over-year. Gross margin reached 30.5%, exceeding its guidance of flat to slightly up from 30.0% in the previous quarter, and up from 30.3% in the same period last year. The sequential increase was driven by a favorable product mix and cost improvements. Q4 profit per diluted ADS was 14.0 cents, considerably above the guidance range of 9.3 cents to 11.0 cents, thanks to better-than-expected revenues and improved costs.

    Revenue from large display drivers came in at $25.0 million, reflecting a 18.6% sequential decline. The decrease was primarily attributed to continued customer destocking after substantial Q2 replenishment for shopping festivals, as well as heightened price competition from Chinese peers. Sales of large panel driver ICs accounted for 10.5% of total revenues for the quarter, compared to 13.8% last quarter and 14.8% a year ago.

    Small and medium-sized display driver segment totaled $166.8 million, an increase of 7.4% sequentially, exceeding its guidance of flat quarter-over-quarter, thanks to stronger-than-expected sales in the automotive and tablet markets. Q4 automotive driver sales, including both traditional DDIC and TDDI, experienced mid-teens increase, significantly outperforming Company’s expectation of a single digit increase, with both DDIC and TDDI showing stronger-than-expected sales. This surge was primarily driven by continued rush orders from Chinese panel customers, carried over from Q3, following the Chinese government’s renewed trade-in stimulus initiative announced in mid-August 2024 to boost automobile consumption. Remarkably, Himax’s Q4 automotive TDDI sales have exceeded DDIC sales for the first time, underscoring the global adoption of Company’s TDDI solutions, which are increasingly essential in modern vehicles, and reflects the growing demand for more intuitive, interactive, and cost-effective touch panel features powered by TDDI technology. Himax’s automotive business, comprising drivers, Tcon, and OLED IC sales, accounted for around 50% of total Q4 revenues. Meanwhile, Q4 tablet IC sales exceeded the guidance of a low teens decline, with sales up slightly sequentially driven by rush orders from leading end customers. Q4 smartphone IC sales declined slightly, in line with its guidance. The small and medium-sized driver IC segment accounted for 70.3% of total sales for the quarter, compared to 69.9% in the previous quarter and 71.6% a year ago.

    Fourth quarter revenues from its non-driver business reached $45.4 million, exceeding the guidance range, with a 24.9% increase from the previous quarter. The growth was primarily driven by a one-time ASIC Tcon product shipment to a leading projector customer and Tcon for monitor application. In Q4, automotive Tcon sales continued to grow sequentially, due to the widespread adoption of Himax’s market-leading local dimming Tcon with over two hundred secured design-win projects across major panel makers, Tier 1 suppliers, and automotive manufacturers worldwide. Non-driver products accounted for 19.2% of total revenues, as compared to 16.3% in the previous quarter and 13.6% a year ago.  

    Fourth quarter operating expenses were $49.2 million, a decrease of 19.1% from the previous quarter and a decline of 6.0% from a year ago. The sequential decrease stemmed primarily from a reduction in annual employee bonuses, partially offset by an increase in R&D expenses. As part of Company’s standard practice, Himax grants annual bonuses, including cash and RSUs, to employees at the end of September each year. This results in higher IFRS operating expenses in the third quarter compared to the other quarters of the year. The year-over-year decrease was mainly due to a decline in employee bonus compensation as the amortized portion of prior year’s bonuses for 2023 was higher than that for 2024, offsetting the higher annual bonus compensation grant for 2024 compared to 2023. Amid ongoing macroeconomic challenges, Himax is strictly enforcing budget and expense controls, with full-year 2024 operating expenses declining 5.6% compared to last year.

    Fourth quarter operating income was $23.1 million or 9.7% of sales, compared to 2.6% of sales last quarter and 7.3% of sales for the same period last year. The sequential increase was primarily the result of higher sales, improved gross margin, and lower operating expenses. The year-over-year increase was primarily the result of higher sales, higher gross margin, and lower employee bonus compensation due to the amortized portion of the prior year’s bonuses. Fourth-quarter after-tax profit was $24.6 million, or 14.0 cents per diluted ADS, reflecting a meaningful increase from $13.0 million, or 7.4 cents per diluted ADS last quarter, and up from $23.6 million, or 13.5 cents in the same period last year.

    Full Year 2024 Financial

    Revenues totaled $906.8 million, a slight decline of 4.1% compared to 2023. Persistent global demand weakness, coupled with uncertainty about market trends, led to conservative purchasing decisions and inventory management by Company’s panel customers. Given this uncertainty, Himax implemented strict expense controls, resulting in a 5.6% reduction in operating expenses for the year. However, Company’s optimism in the automotive business remains unwavering, with automotive IC sales increasing by nearly 20% year-over-year in 2024, far outpacing the overall automotive market growth. Among Company’s automotive product lines, automotive TDDI and Tcon sales, both relatively new technologies, surged by more than 70%, driven by accelerated adoption across the board. This growth strengthened Company’s market leadership and positions Himax well for continued success as the automotive sector embraces more advanced technology resulting from the mega trend of increasing size, quantity, and sophistication of displays inside vehicles.

    Revenue from large panel display drivers totaled $125.9 million in 2024, marking a decrease of 28.3% year-over-year, and representing 13.9% of total sales, as compared to 18.6% in 2023. Small and medium-sized driver sales totaled $625.4 million, reflecting a slight decrease of 0.6% year-over-year, and accounting for 69.0% of its total revenues, as compared to 66.5% in 2023. Non-driver product sales totaled $155.5 million, an increase of 10.6% year-over-year, and representing 17.1% of Company’s total sales, as compared to 14.9% a year ago.

    Gross margin in 2024 was 30.5%, up from 27.9% in 2023. The margin expansion was driven by a strategic focus on cost improvements and operational efficiency optimization, combined with a favorable product mix that included a higher percentage of high-margin products such as automotive and Tcon. The successful diversification of foundry sources also contributed to the margin increase.

    Operating expenses in 2024 were $208.0 million, a decline of 5.6% from 2023, primarily due to lower employee bonus compensation, as the amortized portion of bonuses in 2023 was higher than that in 2024. 2024 operating income was $68.2 million, or 7.5% of sales, an increase from $43.2 million, or 4.6% of sales, in 2023. Himax’s net profit for 2024 was $79.8 million, or $0.46 per diluted ADS, significantly up from $50.6 million, or $0.29 per diluted ADS in 2023.

    Balance Sheet and Cash Flow

    Himax had $224.6 million of cash, cash equivalents and other financial assets as of December 31, 2024. This compares to $206.4 million at the same time last year and $206.5 million a quarter ago. Himax achieved a strong positive operating cash flow of $35.4 million for the fourth quarter, compared to a cash outflow of $3.1 million in Q3. Company made a total of $30.1 million annual cash bonus to employees, resulting in the low operating cash flow of the quarter. As of December 31, 2024, Himax had $34.5 million in long-term unsecured loans, with $6.0 million representing the current portion.

    The Company’s inventories as of December 31, 2024 were $158.7 million, lower than $192.5 million last quarter and $217.3 million at the end of last year. Company’s inventory levels have steadily declined over the past couple of quarters and are now at a healthy level. Accounts receivable at the end of December 2024 was $236.8 million, little changed from $224.6 million last quarter and $235.8 million a year ago. DSO was 96 days at the quarter end, as compared to 92 days last quarter and 91 days a year ago. Fourth quarter capital expenditures were $3.2 million, versus $2.6 million last quarter and $15.1 million a year ago. Fourth quarter capex was mainly for R&D related equipment for Company’s IC design business. Total capital expenditures for 2024 were $13.1 million as compared to $23.4 million in 2023. The decrease was primarily due to reduced spending on in-house testers for Company’s IC design business in 2024.

    Outstanding Share

    As of December 31, 2024, Himax had 174.9 million ADS outstanding, little changed from last quarter. On a fully diluted basis, the total number of ADS outstanding for the fourth quarter was 175.1 million.  

    Q1 2025 Outlook

    In 2024, Himax’s sales revenues in each quarter consistently outperformed guidance. While this strong performance is certainly commendable, it also highlights the challenges Company faced such as limited market visibility and conservative customer demand, where many customers relied on rush orders to address their actual demands. On the other hand, rush orders are indicative of the tight inventory position of Company’s panel customers in general. In the past few quarters, Himax has consistently demonstrated its ability to handle most of such rush orders, underscoring Company’s agility, adaptability, strong capabilities in inventory management, and swift market responsiveness.

    The automotive IC sales remained Company’s largest revenue contributor in 2024, accounting for almost half of total revenues and achieving close to 20% annual growth. This performance highlights Himax’s automotive leadership in technological innovations, product development, and market share. Looking ahead, Himax expects its automotive TDDI and Tcon technologies to maintain growth momentum, further strengthening its market competitiveness. Beyond LCD technology, Himax is advancing development in the automotive OLED sector, with numerous projects currently underway in partnership with leading panel makers. Company anticipates that automotive OLED IC will serve as one of the key growth drivers for Himax in the coming years, further solidifying its leadership in automotive display market.

    Meanwhile, Himax is actively expanding its technology development beyond display ICs. To that end, in the WiseEye AI segment, Company has made notable progress with leading notebook brands and achieved significant breakthroughs in smart door lock, palm vein authentication, and smart home applications, collaborating with world-leading customers to develop new innovations. Himax anticipates a strong growth trajectory in its WiseEye business in 2025 and beyond.

    Himax’s proprietary wafer-level optics (WLO) technology for co-packaged optics (CPO) has recently garnered significant attention in the capital markets. In fact, as early as June 2024, Himax and FOCI, a global leader in silicon photonics connectors, jointly announced the industry-leading CPO technology. The collaboration, spanning several years, unites Himax’s WLO technology with FOCI’s CPO solutions for cutting-edge AI multi-chip modules (MCM). Since the announcement, Himax has provided updates on the latest progress in each quarterly earnings call. Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. CPO significantly enhances bandwidth and accelerates data transmission while reducing signal loss, latency, and power consumption. Additionally, it can help drastically decrease the size and cost of MCM.

    While CPO is still in engineering validation and trial production stage this year, with customer’s mass production timelines undisclosed and the recent AI market disruptions from DeepSeek, the prospect of CPO remains unchanged. The widespread adoption of CPO for data transmission to be conducted via optics instead of metal wire is on track in high-performance AI applications. This is evident by the significant increase in customer’s recent trial production volume forecast, indicating an accelerated timeline for CPO technology to enter mass production. Furthermore, Himax and FOCI, in close collaboration with leading AI customers and partners, are actively developing future generations of CPO technologies to meet the explosive high-speed optical data transmission demand in HPC and AI. Through WLO and CPO technologies, Himax is well-positioned to engage in the high-speed AI computing market with high expectations for its growth. Company believes that CPO technology, beyond cloud applications, will see further adoption in sectors such as automotive and robot in the future. Himax’s current goal is to accelerate CPO adoption in cloud applications, thereby helping drive broader CPO adoption in AI applications.

    At CES this year, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR. Notably, a clear trend emerged at this year’s CES as the industry demonstrated growing enthusiasm for AR glasses, fueled by more companies entering the space and integrating generative AI to accelerate the development of lightweight, compact, and all-day AR glasses. For AR glasses, Himax offers three critical technologies, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI. Company’s latest, patented Front-lit LCoS Microdisplay delivers unparalleled brightness with an industry-leading 400k nits, exceptional optical power efficiency, compact form factor, lightweight, and superior display quality, making it one of the most viable solutions in the see-through AR glasses market. In waveguide, in collaboration with leading tech names, Himax leverages proprietary WLO expertise, built on advanced nanoimprint technology, to offer industry-leading optical solutions that optimize light transmission and display efficiency. In the field of AI sensing for AR glasses, Himax’s WiseEye provides always-on AI sensing capabilities which are being applied by developers to significantly enhance AR interactivity while consuming just a few milliwatts of power.

    In automotive display IC technology, Himax unveiled the industry’s most comprehensive LCD and OLED solutions at CES, showcasing a range of next-generation smart cabin technologies. These solutions not only improve the intuitive operation of smart cabins but also enhance driving safety and provide an exceptional user experience. A prime example is the advanced Display HMI solution developed in collaboration with AUO which meets the demands for large-size, high-resolution, and freeform automotive displays.

    At CES, Himax also partnered with several AI ecosystem partners to showcase its ultralow power WiseEye Modules over a range of innovative, production-ready AIoT applications. These applications include palm vein authentication, baby cry detection, people flow management, and human sensing detection. The modules are designed for easy integration, making it highly suitable for various AIoT applications.

    Display Driver IC Businesses

    LDDIC

    In Q1 2025, Himax anticipates a single digit sequential sales increase for large display driver ICs, driven by demand spurred by Chinese government subsidies for household appliances aimed at reviving demand in the sluggish household sector. Notebook and monitor sales are expected to increase in Q1. In contrast, TV IC sales are set to decline as customers pulled forward their inventory purchases in the prior quarter, coupled with the seasonal slowdown in Q1.

    Looking ahead in the notebook sector, Company is seeing an increase in demand for premium notebooks to adopt OLED displays and touch features, partially fueled by the rise of AI PC. Himax is well-positioned to capitalize on this trend, offering a comprehensive range of ICs for both LCD and OLED notebooks, including DDIC, Tcon, touch controllers, and TDDI. A standout innovation is Company’s pioneering in-cell touch TDDI for LCD displays, which improves the ease of system design and integration by embedding the touch controller within the TDDI chip while maintaining the conventional display driver setup for Tcon data transmission. This design simplifies integration for customers, reducing engineering complexity and speeding up product development. This solution also supports high-resolution displays up to 4K and larger screens up to 16 inches, aligning with the growing demand for advanced, visually stunning, and immersive laptops. With mass production already underway for a leading notebook vendor’s AI PC, more projects are lined up. For OLED notebooks, in addition to Company’s OLED DDIC and Tcon solutions, Himax is also developing on-cell touch controller technology, with multiple projects underway with top panel makers and notebook vendors. Last but not least, progress has been made on the next-generation eDP 1.5 display interface for Tcon for both LCD and OLED panels. This interface will support high frame rates, low power consumption, adaptive sync, and high resolution, key features essential for next-generation AI PCs. By delivering innovative, cutting-edge technologies, Himax is well-positioned to lead in the rapidly evolving landscape of AI PCs and premium notebooks.

    SMDDIC

    On SMDDIC revenue, for the full year 2024, Himax’s automotive driver IC sales, comprising of TDDI and traditional DDIC, increased nearly 20% year-over-year, significantly outpacing global automotive growth, largely driven by the continued adoption of TDDI technology among major customers across all continents. However, Himax anticipates Q1 automotive revenue to decline low teens sequentially, following two quarters of surge demand. Despite this, Q1 automotive sales are still projected to increase by mid-teens on a year-over-year basis. In the automotive TDDI sector, with cumulative shipments significantly surpassing those of Himax’s competitors, Company continues to reinforce its market leadership, which currently stands at well over 50%. With nearly 500 design-in projects secured and a continuous influx of new pipeline and design-wins across the board, of which only 30% already in mass production, Himax expects to sustain this decent growth in the years ahead. While traditional automotive DDIC sales for 2024 declined due to their gradual, partial replacement by TDDI, Company’s DDIC shipment volume still saw a modest increase in the last year. This demonstrates the steady demand for mature DDIC products, such as those used in cluster displays, HUDs, and rear- and side-view mirrors, which do not require touch functionality. Furthermore, the long-term trust and loyalty from Company’s DDIC customers, some of whom have relied on Himax’s solutions for over a decade, is indicative of Company’s strong customer retention. Himax continues to lead the automotive DDIC market, maintaining a global market share of approximately 40%.

    Himax continues to lead in automotive display IC innovation by pioneering solutions that deliver superior performance, power efficiency, and enhanced user experiences. As part of this ongoing innovation, Company’s latest TED (Tcon Embedded Driver IC) solution, which combines TDDI with local dimming Tcon into a single chip, provides a cost-effective, flexible, and comprehensive solution for its customers. Another new technology worth highlighting is Himax’s automotive TDDI with advanced user-aware touch control, which differentiates between driver and passenger touches to prevent cross-touch and enhance driving safety. In addition, Company offers a unique knob-on-in-cell-display solution that combines a physical knob with a TDDI. This design seamlessly merges in-cell touch technology with tactile controls, offering drivers a safer, more intuitive interaction that reduces distractions and enhances the overall driving experience.

    Moving to smartphone and tablet IC sales, Himax expects a sequential decline in both product lines, as is typical during the low season in Q1 due to the Lunar New Year.

    On OLED business update. In the automotive OLED market, Company has established strategic partnerships with leading panel makers in Korea, China, and Japan. As OLED technology extends beyond premium car models, Himax is well-positioned as the preferred partner, leveraging Company’s strong presence and proven track record in the automotive LCD display sector. Capitalizing on Himax’s first-mover advantage, Himax aims to drive the growing adoption of OLED in automotive displays by offering a comprehensive range of solutions, including DDIC, Tcon, and on-cell touch controller. Company believes this positions it as a primary beneficiary of the anticipated shift toward OLED displays for high end vehicles in a couple of years, enabling Himax to capture new growth opportunities and further strengthen its market leadership.

    Beyond the automotive sector, Company has also made strides in the tablet and notebook markets, partnering with leading OLED panel makers in Korea and China. Himax’s comprehensive OLED product portfolio, covering DDIC, Tcon, and touch controllers, has driven several new projects that are on track to begin mass production this year. In the smartphone OLED market, Company is making solid progress in collaborations with customers in Korea and China and anticipates mass production to start later this year.

    First quarter small and medium-sized display driver IC business is expected to decline low teens sequentially.

    Non-Driver Product Categories

    Q1 non-driver IC revenues are expected to decrease high teens sequentially.

    Timing Controller (Tcon)

    Himax anticipates Q1 2025 Tcon sales to decrease mid-teens sequentially, primarily due to the non-recurrence of a one-time ASIC Tcon shipment to a leading projector customer last quarter, as well as a moderation in automotive Tcon shipments following several quarters of strong growth. That being said, Himax maintains an unchallenged position in local dimming Tcon, evidenced by growing validation and widespread adoption in both premium and mainstream car models worldwide. Company is confident in the continued growth of its automotive Tcon business, supported by its strong market presence in local dimming Tcon, with strong pipeline of over two hundred design-win projects set to gradually enter production in the coming years. Heads-up display (HUD) is another field gaining traction within automotive displays, driving increased adoption of local dimming Tcon technology and emerging as a particularly promising application. Himax’s industry-leading local dimming Tcon provides distinct advancements with high contrast ratio and optimized power consumption. It effectively eliminates the “postcard effect” often seen in HUDs, caused by backlight leakage typical of conventional TFT LCD panels, ensuring clear and precise images on the windshield. Additionally, the Tcon features advanced transparency detection to prevent the display from obstructing the driver’s view, thereby ensuring driving safety. Several HUD projects are already in progress, and Himax is excited about the potential opportunities ahead. Company is well positioned for continuous growth in automotive Tcon over the next few years.

    WiseEye™ Ultralow Power AI Sensing

    On the update of WiseEye™ ultralow power AI sensing solution, a cutting-edge endpoint AI integration featuring industry-leading ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm. WiseEye AI delivers a significant competitive edge in the rapidly growing AI market through its ultralow power consumption and context-aware, on-device AI inferencing that seamlessly integrates vision and other sensing capabilities into endpoint applications, particularly battery-powered devices. This not only enhances intuitive user interaction but also makes AI more practical and accessible. Additionally, WiseEye AI offloads tasks from the main processor, effectively extending battery lifespan and improving overall data processing efficiency. Building on the success with Dell notebooks, Himax WiseEye AI is continuing to expand its market presence, with additional use cases expected across other leading notebook brands, some of which are set for production later this year.

    WiseEye also continues to achieve significant market success across various sectors. For smart door lock, Company collaborated with DESMAN, a leading high-end brand in China, to introduce the world’s first smart door lock with 24/7 sentry monitoring and real-time event recording. Building on this achievement, Himax is expanding globally by collaborating with other leading door lock makers worldwide to integrate innovative AI features, including parcel recognition, anti-pinch protection, and palm vein biometric access, further extending application possibilities. Several of these value-added solutions are set to enter production later this year. At CES 2025, Himax joined forces with ecosystem partners to unveil a suite of innovative, production-ready AIoT applications, powered by Company’s tiny form factor, plug-and-play WiseEye Modules. Himax offers a series of modules, each incorporating an ultralow power WiseEye AI processor, an AoS image sensor, and advanced algorithms. The modules feature no-code/low-code AI platform capabilities, simplifying AI integration and supporting diverse use cases, such as human presence detection, gender and age recognition, gesture recognition, face mesh, voice command, thermal image sensing, pose estimation and people flow management. By streamlining deployment and reducing development costs, WiseEye Modules open new opportunities for automation, enhance interactivity, and elevate user experiences across a variety of industries.

    A broad range of innovative, ultralow power WiseEye Modules are also under development in collaboration with ecosystem partners, such as crying baby detection, dynamic gesture recognition, and human sensing, among others. One standout in Himax’s WiseEye Module portfolio is the Himax WiseEye PalmVein solution, which has quickly gained traction since its introduction just one year ago. Company has secured multiple design wins, with mass production already underway by a US customer for smart access applications and a Taiwan-based door lock vendor for its leading smart door lock brands. To meet growing customer demand for flexibility across various environments, the upgraded WiseEye PalmVein suite now features bimodal authentication, combining both palm vein and face recognitions. This dual-authentication solution enhances security by offering two layers of biometric verification, which not only increases reliability but also makes it highly adaptable to various environments.

    The rise of physical AI agents marks a significant shift in human-machine interaction, enabling devices to perceive, process, and respond to their surroundings in real time. A key emerging trend is the integration of cloud-based large language models (LLMs), which enables these agents’ advanced reasoning and language understanding, enhancing their ability to interact with and adapt to the physical world. Himax WiseEye AI is at the forefront of this revolution, delivering always-on sensor fusion, ultralow power on-device processing, while seamlessly interfacing with LLMs, to provide the essential real-time AI capabilities for next-generation applications. A good illustration of this innovation was showcased at CES 2025, where Himax and Seeed Studio introduced the SenseCAP Watcher, a physical AI agent powered by WiseEye AI. Equipped with vision and audio sensor fusion, along with a speaker, this battery-powered IoT device combines on-device AI with cloud-based LLMs to interpret commands, recognize objects, respond to events, and facilitate real-time interaction. Drawing from the success of SenseCAP Watcher, Himax is actively working on multiple projects leveraging WiseEye AI to further drive advancements in physical AI agent applications.

    Separately, Himax is excited about its collaboration with a leading AR player to integrate WiseEye AI into the next generation of AR glasses. At CES, there was a renewed enthusiasm on AR glasses with AI becoming an integral component to enable intuitive and seamless human-device interaction. WiseEye AI addresses two critical challenges in AR glasses, namely real-time responsiveness and power efficiency. For example, WiseEye supports always-on outward sensing, enabling AR glasses to detect and analyze the surrounding environment with real time context-aware AI. This capability powers instant response, real-time object recognition, navigation assistance, translation, and environmental mapping, enhancing the overall AR experience. Notably, WiseEye AI’s exceptional ultralow power consumption, measured in single digit milliwatts, also make it perfectly suited for AR glasses for all-day wear. In another example, Company collaborates with Ganzin on eyeball tracking technology, which, powered by WiseEye, precisely detects subtle eyeball movements, gaze direction, pupil size, and blinking, thereby providing critical data for the enhancement of user interaction in AR glasses.

    Wafer Level Optics (WLO)

    In June 2024, Himax, in partnership with FOCI, a world leader in silicon photonics connector, unveiled an industry-leading co-packaged optics (CPO) technology, leveraging Himax state-of-the-art WLO technology. This innovation integrates silicon photonic chips and optical connectors within MCM, replacing traditional metal wire transmission with high-speed optical communication. The technology significantly enhances bandwidth, boosts data transmission rates, reduces signal loss and latency, lowers power consumption, and significantly minimizes the size and cost of MCM. In working closely with FOCI, Himax is making significant strides through a solid partnership with leading AI semiconductor companies and foundry, with small-scale production of the first-generation CPO solution already underway. The significant increase in Q1 engineering validation and trial production volume, combined with the anticipated sample volume increases in the coming quarters, is a strong indication that CPO technology is being accelerated toward mass production. In addition, in close collaboration with leading AI customers/partners, Himax is speeding up the development of CPO technology for the next few generations. Himax is more optimistic than ever about the outlook for its WLO business, which is poised to generate significant growth opportunities and become a major revenue and profit contributor in the years ahead.

    Alongside the CPO progress, Company is witnessing a rise in engineering collaborations with global technology leaders who are utilizing Himax’s WLO expertise to make advanced waveguides for AR glasses, highlighting the growing recognition of Company’s WLO capabilities.

    LCoS

    On the update on LCoS, Company recently introduced its industry-leading 400K nits ultra-luminous Front-lit LCoS Microdisplay, setting a new benchmark for brightness with extremely low power consumption of merely 300mW. At CES 2025, Company showcased an AR glasses POC (Proof-Of-Concept) featuring the microdisplay with a third-party waveguide, achieving over 1,000 nits of brightness to the eye. This demonstration highlighted its suitability for outdoor, high ambient light conditions. With a lightweight of just 0.98 grams and ultra-compact form factor of less than 0.5 c.c., combined with excellent color performance, Himax’s Front-lit LCoS Microdisplay is ideal for all-day AR glasses and underscores the technology’s readiness for real-world applications.

    Following the recent release of Himax’s 400K nits ultra-luminous Front-lit LCoS Microdisplay, Himax is actively engaged in significant projects through strategic collaborations with industry leaders. Himax’s proven track record of over a decade in LCoS technology, coupled with a history of successful production shipments, highlights Company’s readiness to meet the demands of large-scale production of AR glasses.

    First Quarter 2025 Guidance
    Net Revenue: Decrease 8.5% to 12.5% QoQ, Flat to Up 4.6% YoY
    Gross Margin: Around 30.5%, depending on final product mix
    Profit: 9.0 cents to 11.0 cents per diluted ADS, Up 26% to 54% YoY  
       

    Himax noticed that some peers’ customers placed orders early due to tariff factors, especially in the consumer electronics sector, resulting in Q1 revenue forecasts exceeding normal seasonal demand. In contrast, no similar trend has been observed in the automotive semiconductor market. Since Himax’s automotive business accounts for more than half of its total revenues, Himax’s Q1 revenue forecast has not benefited from tariff factors.

    HIMAX TECHNOLOGIES FOURTH QUARTER AND FULL YEAR 2024 EARNINGS CONFERENCE CALL
    DATE: Thursday, February 13, 2025
    TIME: U.S.       8:00 a.m. EST
    Taiwan  9:00 p.m.
       
    Live Webcast (Video and Audio): http://www.zucast.com/webcast/br8wqbB4
    Toll Free Dial-in Number (Audio Only):
      Hong Kong 2112-1444
    Taiwan 0080-119-6666
    Australia 1-800-015-763
    Canada 1-877-252-8508
    China (1) 4008-423-888
    China (2) 4006-786-286
    Singapore 800-492-2072
    UK 0800-068-8186
    United States (1) 1-800-811-0860
    United States (2) 1-866-212-5567
    Dial-in Number (Audio Only): 
      Taiwan Domestic Access 02-3396-1191
    International Access +886-2-3396-1191
    Participant PIN Code: 3329013 # 
       

    If you choose to attend the call by dialing in via phone, please enter the Participant PIN Code 3329013 # after the call is connected. A replay of the webcast will be available beginning two hours after the call on www.himax.com.tw. This webcast can be accessed by clicking on this link or Himax’s website, where it will remain available until February 13, 2026.

    About Himax Technologies, Inc.
    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye™ Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,649 patents granted and 402 patents pending approval worldwide as of December 31, 2024.

    http://www.himax.com.tw

    Forward Looking Statements

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

    Company Contacts:

    Eric Li, Chief IR/PR Officer
    Himax Technologies, Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw
      
    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

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

    -Financial Tables-

    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Profit or Loss
    (These interim financials do not fully comply with IFRS because they omit all interim disclosure required by IFRS)
    (Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)
      Three Months
    Ended December 31,
    		   3 Months
    Ended
    September 30,
        2024       2023       2024  
               
    Revenues          
    Revenues from third parties, net $ 237,182     $ 227,664     $ 222,401  
    Revenues from related parties, net   41       14       6  
        237,223       227,678       222,407  
               
    Costs and expenses:          
    Cost of revenues   164,963       158,669       155,795  
    Research and development   37,584       41,088       46,880  
    General and administrative   5,711       5,831       6,828  
    Sales and marketing   5,886       5,409       7,048  
    Total costs and expenses   214,144       210,997       216,551  
               
    Operating income   23,079       16,681       5,856  
               
    Non operating income (loss):          
    Interest income   2,042       1,934       2,297  
    Changes in fair value of financial assets at fair value through profit or loss   1,245       1,710       27  
    Foreign currency exchange gains (losses), net   690       (1,525 )     457  
    Finance costs   (964 )     (1,140 )     (1,018 )
    Share of losses of associates   (360 )     (14 )     (143 )
    Other losses   –       (1,932 )     –  
    Other income (losses)   60       (362 )     105  
        2,713       (1,329 )     1,725  
    Profit before income taxes   25,792       15,352       7,581  
    Income tax expense (benefit)   761       (7,933 )     (5,174 )
    Profit for the period   25,031       23,285       12,755  
    Loss (profit) attributable to noncontrolling interests   (423 )     280       268  
    Profit attributable to Himax Technologies, Inc. stockholders $ 24,608     $ 23,565     $ 13,023  
               
    Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders $ 0.141     $ 0.135     $ 0.075  
    Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders $ 0.140     $ 0.135     $ 0.074  
               
    Basic Weighted Average Outstanding ADS   175,008       174,724       174,727  
    Diluted Weighted Average Outstanding ADS   175,146       174,979       174,987  
    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Profit or Loss
    (Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)
       
        Twelve Months
    Ended December 31,
          2024       2023  
             
    Revenues        
    Revenues from third parties, net   $ 906,737     $ 945,309  
    Revenues from related parties, net     65       119  
          906,802       945,428  
             
    Costs and expenses:        
    Cost of revenues     630,601       681,931  
    Research and development     160,329       171,392  
    General and administrative     24,121       25,037  
    Sales and marketing     23,530       23,856  
    Total costs and expenses     838,581       902,216  
             
    Operating income     68,221       43,212  
             
    Non operating income (loss):        
    Interest income     9,907       8,746  
    Changes in fair value of financial assets at fair value through profit or loss     1,363       1,655  
    Foreign currency exchange gains (losses), net     2,491       (768 )
    Finance costs     (4,014 )     (6,080 )
    Share of losses of associates     (831 )     (598 )
    Other losses     –       (1,932 )
    Other income     198       158  
          9,114       1,181  
    Profit before income taxes     77,335       44,393  
    Income tax benefit     (2,435 )     (5,028 )
    Profit for the period     79,770       49,421  
    Loss (profit) attributable to noncontrolling interests     (15 )     1,195  
    Profit attributable to Himax Technologies, Inc. stockholders   $ 79,755     $ 50,616  
             
    Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders   $ 0.456     $ 0.290  
    Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders   $ 0.456     $ 0.290  
             
    Basic Weighted Average Outstanding ADS     174,796       174,495  
    Diluted Weighted Average Outstanding ADS     175,014       174,783  
    Himax Technologies, Inc.
    IFRS Unaudited Condensed Consolidated Statements of Financial Position
    (Amounts in Thousands of U.S. Dollars)
     
        December 31,
    2024    		   December 31,
    2023    		   September 30,
    2024
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 218,148     $ 191,749     $ 194,139  
    Financial assets at amortized cost     4,286       12,511       12,335  
    Financial assets at fair value through profit or loss     2,140       2,117       –  
    Accounts receivable, net (including related parties)     236,813       235,829       224,589  
    Inventories     158,746       217,308       192,458  
    Income taxes receivable     726       1,454       986  
    Restricted deposit     503,700       453,000       503,700  
    Other receivable from related parties     13       69       22  
    Other current assets     43,471       86,548       42,581  
    Total current assets     1,168,043       1,200,585       1,170,810  
    Financial assets at fair value through profit or loss     23,554       21,650       26,383  
    Financial assets at fair value through other comprehensive income     28,226       1,635       22,457  
    Equity method investments     8,571       3,490       2,945  
    Property, plant and equipment, net     121,280       130,109       122,333  
    Deferred tax assets     21,193       14,196       13,806  
    Goodwill     28,138       28,138       28,138  
    Other intangible assets, net     636       816       717  
    Restricted deposit     31       32       31  
    Refundable deposits     221,824       222,025       221,879  
    Other non-current assets     18,025       20,728       18,484  
          471,478       442,819       457,173  
         Total assets   $ 1,639,521     $ 1,643,404     $ 1,627,983  
    Liabilities and Equity            
    Current liabilities:            
    Current portion of long-term unsecured borrowings   $ 6,000     $ 6,000     $ 6,000  
    Short-term secured borrowings     503,700       453,000       503,700  
    Accounts payable (including related parties)     113,203       107,342       121,384  
    Income taxes payable     9,514       15,309       2,324  
    Other payable to related parties     –       110       –  
    Contract liabilities-current     10,622       17,751       25,694  
    Other current liabilities     63,595       109,291       54,673  
    Total current liabilities     706,634       708,803       713,775  
    Long-term unsecured borrowings     28,500       34,500       30,000  
    Deferred tax liabilities     564       520       505  
    Other non-current liabilities     7,496       35,879       11,361  
          36,560       70,899       41,866  
    Total liabilities     743,194       779,702       755,641  
    Equity            
    Ordinary shares     107,010       107,010       107,010  
    Additional paid-in capital     115,376       114,648       115,285  
    Treasury shares     (5,546 )     (5,157 )     (4,714 )
    Accumulated other comprehensive income     8,621       (180 )     3,507  
    Retained earnings     664,600       640,447       644,596  
    Equity attributable to owners of Himax Technologies, Inc.     890,061       856,768       865,684  
    Noncontrolling interests     6,266       6,934       6,658  
    Total equity     896,327       863,702       872,342  
         Total liabilities and equity   $ 1,639,521     $ 1,643,404     $ 1,627,983  
    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in Thousands of U.S. Dollars)
     
        Three Months
    Ended December 31,    		   Three Months Ended
    September 30,
          2024       2023       2024  
                 
    Cash flows from operating activities:            
    Profit for the period   $ 25,031     $ 23,285     $ 12,755  
    Adjustments for:            
    Depreciation and amortization     5,564       5,115       5,640  
    Share-based compensation expenses     103       346       407  
    Losses (gains) on disposals of property, plant and equipment, net     4       (368 )     –  
    Loss on re-measurement of the pre-existing relationships in a business combination     –       1,932       –  
    Changes in fair value of financial assets at fair value through profit or loss     (1,245 )     (1,710 )     (27 )
    Interest income     (2,042 )     (1,934 )     (2,297 )
    Finance costs     964       1,140       1,018  
    Income tax expense (benefit)     761       (7,933 )     (5,174 )
    Share of losses of associates     360       14       143  
    Inventories write downs     4,037       5,727       2,269  
    Unrealized foreign currency exchange losses (gains)     (159 )     1,517       228  
          33,378       27,131       14,962  
    Changes in:            
    Accounts receivable (including related parties)     (27,302 )     8,163       8,548  
    Inventories     29,675       36,580       8,964  
    Other receivable from related parties     9       (29 )     33  
    Other current assets     2,502       (5,682 )     (778 )
    Accounts payable (including related parties)     (7,706 )     (627 )     (26,101 )
    Other payable to related parties     1       363       (102 )
    Contract liabilities     6       (958 )     667  
    Other current liabilities     2,508       3,014       (4,161 )
    Other non-current liabilities     71       393       (3,354 )
    Cash generated from operating activities     33,142       68,348       (1,322 )
    Interest received     3,513       2,665       860  
    Interest paid     (1,047 )     (1,140 )     (1,018 )
    Income tax paid     (191 )     (1,131 )     (1,658 )
    Net cash provided by (used in) operating activities     35,417       68,742       (3,138 )
                 
    Cash flows from investing activities:            
    Acquisitions of property, plant and equipment     (3,222 )     (15,052 )     (2,551 )
    Proceeds from disposal of property, plant and equipment     –       111       –  
    Acquisitions of intangible assets     –       (40 )     (9 )
    Acquisitions of financial assets at amortized cost     (2,286 )     (4,573 )     (1,500 )
    Proceeds from disposal of financial assets at amortized cost     10,289       784       617  
    Acquisitions of financial assets at fair value through profit or loss     (6,807 )     (5,375 )     (27,934 )
    Proceeds from disposal of financial assets at fair value through profit or loss     3,722       1,645       33,036  
    Acquisitions of financial assets at fair value through other comprehensive income     –       (1,379 )     –  
    Proceeds from disposal of financial assets at fair value through other comprehensive income     –       99       –  
    Acquisition of a subsidiary, net of cash acquired (paid)     (5,416 )     433       –  
    Proceeds from capital reduction of investment     338       360       –  
    Acquisitions of equity method investment     (1,236 )     –       –  
    Decrease (increase) in refundable deposits     (8 )     –       11,339  
    Net cash provided by (used in) investing activities     (4,626 )     (22,987 )     12,998  
                 
    Cash flows from financing activities:            
    Purchase of treasury shares     (832 )     –       –  
    Prepayments for purchase of treasury shares     (2,168 )     –       –  
    Payments of cash dividends     –       –       (50,670 )
    Payments of dividend equivalents     –       –       (233 )
    Proceeds from issuance of new shares by subsidiaries     –       916       –  
    Purchases of subsidiaries shares from noncontrolling interests     –       (9 )     –  
    Proceeds from short-term unsecured borrowings     –       36,932       –  
    Repayments of short-term unsecured borrowings     –       (37,226 )     –  
    Repayments of long-term unsecured borrowings     (1,500 )     (1,500 )     (1,500 )
    Proceeds from short-term secured borrowings     461,400       427,100       522,600  
    Repayments of short-term secured borrowings     (461,400 )     (427,100 )     (471,900 )
    Pledge of restricted deposit     –       –       (50,700 )
    Payment of lease liabilities     (1,340 )     (1,244 )     (979 )
    Guarantee deposits received (refunded)     219       (5 )     –  
    Net cash used in financing activities     (5,621 )     (2,136 )     (53,382 )
    Effect of foreign currency exchange rate changes on cash and cash equivalents     (1,161 )     873       985  
    Net increase (decrease) in cash and cash equivalents     24,009       44,492       (42,537 )
    Cash and cash equivalents at beginning of period     194,139       147,257       236,676  
    Cash and cash equivalents at end of period   $ 218,148     $ 191,749     $ 194,139  
                 
    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in Thousands of U.S. Dollars)
        Twelve Months
    Ended December 31,
          2024       2023  
             
    Cash flows from operating activities:        
    Profit for the period   $ 79,770     $ 49,421  
    Adjustments for:        
    Depreciation and amortization     22,354       20,322  
    Share-based compensation expenses     1,247       2,663  
    Losses (gains) on disposals of property, plant and equipment, net     4       (368 )
    Loss on re-measurement of the pre-existing relationships in a business combination     –       1,932  
    Changes in fair value of financial assets at fair value through profit or loss     (1,363 )     (1,655 )
    Interest income     (9,907 )     (8,746 )
    Finance costs     4,014       6,080  
    Income tax benefit     (2,435 )     (5,028 )
    Share of losses of associates     831       598  
    Inventories write downs     13,551       21,540  
    Unrealized foreign currency exchange losses (gains)     (171 )     624  
          107,895       87,383  
    Changes in:        
    Accounts receivable (including related parties)     (40,738 )     20,804  
    Inventories     45,011       132,090  
    Other receivable from related parties     56       5  
    Other current assets     3,941       (3,863 )
    Accounts payable (including related parties)     14,567       7,676  
    Other payable to related parties     (110 )     (268 )
    Contract liabilities     45       (37,051 )
    Other current liabilities     (9,010 )     1,246  
    Other non-current liabilities     (2,260 )     (4,602 )
    Cash generated from operating activities     119,397       203,420  
    Interest received     9,732       8,567  
    Interest paid     (4,015 )     (6,080 )
    Income tax paid     (9,138 )     (53,066 )
    Net cash provided by operating activities     115,976       152,841  
             
    Cash flows from investing activities:        
    Acquisitions of property, plant and equipment     (13,054 )     (23,378 )
    Proceeds from disposal of property, plant and equipment     –       111  
    Acquisitions of intangible assets     (153 )     (115 )
    Acquisitions of financial assets at amortized cost     (11,236 )     (6,911 )
    Proceeds from disposal of financial assets at amortized cost     19,457       3,099  
    Acquisitions of financial assets at fair value through profit or loss     (76,003 )     (82,628 )
    Proceeds from disposal of financial assets at fair value through profit or loss     70,389       75,539  
    Acquisitions of financial assets at fair value through other comprehensive income     (17,164 )     (1,379 )
    Proceeds from disposal of financial assets at fair value through other comprehensive income     –       99  
    Acquisition of a subsidiary, net of cash acquired (paid)     (5,416 )     433  
    Proceeds from capital reduction of investment     338       360  
    Acquisitions of equity method investment     (1,236 )     –  
    Decrease (increase) in refundable deposits     33,562       (56,933 )
    Cash received in advance from disposal of land     –       2,821  
    Net cash used in investing activities     (516 )     (88,882 )
             
    Cash flows from financing activities:        
    Purchase of treasury shares     (832 )     –  
    Prepayments for purchase of treasury shares     (2,168 )     –  
    Payments of cash dividends     (50,670 )     (83,720 )
    Payments of dividend equivalents     (233 )     (148 )
    Proceeds from issuance of new shares by subsidiary     71       916  
    Purchases of subsidiaries shares from noncontrolling interests     (190 )     (9 )
    Proceeds from short-term unsecured borrowings     –       47,226  
    Repayments of short-term unsecured borrowings     –       (47,226 )
    Repayments of long-term unsecured borrowings     (6,000 )     (6,000 )
    Proceeds from short-term secured borrowings     1,780,300       1,383,300  
    Repayments of short-term secured borrowings     (1,729,600 )     (1,299,600 )
    Pledge of restricted deposit     (50,700 )     (83,700 )
    Payment of lease liabilities     (5,032 )     (4,830 )
    Guarantee deposits received (refunded)     (23,163 )     200  
    Net cash used in financing activities     (88,217 )     (93,591 )
    Effect of foreign currency exchange rate changes on cash and cash equivalents     (844 )     (200 )
    Net increase (decrease) in cash and cash equivalents     26,399       (29,832 )
    Cash and cash equivalents at beginning of period     191,749       221,581  
    Cash and cash equivalents at end of period   $ 218,148     $ 191,749  

    The MIL Network –

  • MIL-OSI NGOs: Uncertainty around PEPFAR programme puts millions of people at risk

    Source: Médecins Sans Frontières –

    • MSF is witnessing the impacts of the US government’s decision to freeze funding to PEPFAR in countries where we work.
    • While clarification on the decision was issued on 6 February, we remain concerned that key areas of HIV prevention are not included in this additional guidance.
    • We urge the US government to immediately resume all funding of critical humanitarian and health aid, including the full range of PEPFAR operations.

    New York/Johannesburg/Brussels — The decision by the United States (US) government to temporarily freeze funding to the President’s Emergency Plan for AIDS Relief (PEPFAR) alongside all other foreign aid for at least a 90-day period has had immediate effects on people living with HIV, said Médecins Sans Frontières (MSF) today. Although the US has since clarified that certain treatment programmes can continue at least until April, we are concerned that critical elements of the PEPFAR programme remain frozen.

    “More than three weeks since the US government froze PEPFAR funding, there is still widespread confusion and uncertainty as to whether this critical lifeline for millions of people has been cut off,” says Avril Benoît, chief executive officer of MSF USA. “Despite a limited waiver covering some activities, what our teams are seeing in many of the countries where we work is that people have already lost access to lifesaving care and have no idea whether or when their treatment will continue.”

    “MSF is calling on the US government to immediately resume funding for the full range of PEPFAR operations as well as other critical health and humanitarian aid,” says Benoît.

    On 1 February, after over a week of chaos and a freeze of activities, the US government issued a limited waiver allowing for the resumption of some programming with specific guidance for HIV. However, that guidance was unclear, and it did not immediately reach PEPFAR country teams. Across our broad network, MSF did not see a single organisation able to resume work as a result of this limited guidance on waivers. On 6 February, the US government issued clarified guidance on HIV care and treatment and prevention of mother to child transmission programmes.

    However, we remain concerned that key areas of HIV prevention, treatment, care, and support are not included in this additional guidance, such as pre-exposure prophylaxis (PrEP) for all vulnerable groups, including LGBTQ+ people and sex workers, specific interventions for adolescent girls and young women in high prevalence countries, and community-led monitoring programmes. These services are essential to ensuring a successful response to the epidemic.

    While MSF does not accept US government funding and will not be directly affected by cuts or freezes to PEPFAR, many of our activities are contingent on the programmes that have been interrupted. In some places we have had to adapt and change our activities, and the indirect effects of these freezes have already been felt in our projects in various parts of the world.

    In sub-Saharan Africa, where MSF runs several HIV/AIDS and related health programmes, we are already witnessing impacts on patients. In South Africa, many clinics providing HIV services, including testing, treatment, and PrEP through PEPFAR-funded organisations have been shuttered, leaving people confused and distressed about where to access their critical medication.

    In Mozambique, a major partner organisation of MSF that provided comprehensive HIV services had to stop activities completely. In Zimbabwe, most organisations providing HIV services have also stopped work, disrupting in particular the DREAMS program aimed at decreasing new HIV infections in adolescent girls and young women.

    “Any interruption to HIV services and treatment is deeply distressing to people in care and an emergency when it comes to HIV treatment,” says Tom Ellman, director of the South Africa Medical Unit at MSF Southern Africa. “HIV medicines must be taken daily or people run the risk of developing resistance or deadly health complications.”

    In Democratic Republic of Congo, the aid freeze was already affecting the most successful model of antiretroviral drug distribution ever implemented in the capital city of Kinshasa: the community-run free distribution and peer support points, known locally as “PODIs”. In a country where stigma against people living with HIV is massive and poverty remains a barrier to care, PODIs have proven to be a medically necessary approach for addressing delays or therapy abandonment. With PEPFAR-supported points of care now closed and other activities frozen, thousands of people were left without support and with a high risk of developing advanced HIV. MSF teams supporting advanced HIV disease care in Kinshasa might not be able to meet the increased demand if disruptions persist.

    In South Sudan, approximately 51 per cent of people living with HIV know their status, and 47 percent are on treatment. A discontinuation of this programme will have devastating effects on thousands of people and their communities. MSF has worked alongside PEPFAR providing essential HIV care in this context and has seen firsthand how this programme saves lives. The support of PEPFAR in this country is critical.

    PEPFAR-supported programming is deeply interconnected with and reliant on other components of the US foreign aid system, specifically implementation support provided by USAID and technical and other assistance provided by the US Centers for Disease Control and Prevention (CDC). Given that the foreign aid freeze and stop-work orders continue to affect these other agencies, and staff from these agencies have been put on immediate leave or recalled, it is unclear when and how even the limited activities now allowed will be able to restart.

    “These disruptions will cost lives and upend years of progress against this virus,” says Benoît. “Every day that passes is an emergency for millions of people for whom PEPFAR is a lifeline.”

    PEPFAR-supported programming has been heavily integrated into key aspects of the broader health systems of partner countries over the last 20 plus years and as a result the consequences of these disruptions have been far-reaching. For this reason, some of the services affected go beyond purely HIV treatment and prevention, such as in Uganda, where PEPFAR-funded aspects of infectious disease surveillance and response, including for Ebola virus, have been stopped.

    “When MSF first started treating people with HIV/AIDS in South Africa 25 years ago, there were no antiretroviral medicines on the shelves, every diagnosis felt like a death sentence, and communities were desperately trying to curb the virus’ spread,” says Ellman.

    Since then, PEPFAR support has helped save more than 25 million lives and encouraged the fight against HIV to be a truly global one. But continued success relies on continued access to the full range of HIV-related programmes, services, and goods including prevention services and treatment, population-specific and targeted programmes, programmes related to gender-based violence, and other critical areas.

    As health care providers, we are deeply concerned by these disruptions to this lifesaving programme.

    “Even temporary interruptions to key components of PEPFAR will harm people at risk of acquiring HIV and people living with HIV,” says Benoît. “We urge the US government to immediately resume all funding of critical humanitarian and health aid, including the full range of PEPFAR operations.”

    MIL OSI NGO –

  • MIL-OSI United Kingdom: Fellowships launched to explore how AI could change the way scientists drive new discoveries

    Source: United Kingdom – Government Statements

    New government-funded fellowships will see researchers explore how AI can change the way we conduct research while 23 projects have been awarded funding to explore wider research and innovation.

    £4 million AI Metascience Fellowship Programme

    New government-funded fellowships exploring how AI could change the way scientists drive future discoveries are now open for applications, Science Minister Lord Vallance has announced today (Thursday 13 February).

    Metascience – the study of how science works – examines research practices, funding models, and how institutions operate to improve how science and research is conducted, and discoveries are made and applied. By understanding what makes scientific research more effective, metascience helps drive research breakthroughs faster and with greater impact – boosting economic growth and prosperity to drive our Plan for Change.

    The AI Metascience Fellowship Programme will fund research into key questions, including how AI is reshaping the research landscape and both changing and supporting the daily work of scientists. It will explore ethical concerns such as biases in AI-driven research and transparency in AI-generated discoveries and economic impacts like shifts in research jobs and funding priorities.

    The new fellowship builds on the momentum of the recent AI Action Summit, as global leaders work to ensure AI’s development benefits society and be rolled out across society in the public interest.

    AI is already revolutionising research with DeepMind’s AlphaFold accelerating drug discovery, while AI-powered lab robotics are automating complex experiments and machine learning is transforming how scientists analyse vast datasets.

    The programme will also examine how governments and businesses should respond, from ensuring AI-driven science remains rigorous and delivers reliable outcomes to supporting researchers to maximise their creative potential and spend less time on mundane tasks.

    Funding will go towards researchers to apply their expertise in examining the technology’s broader effects on research. The £4 million UK programme will run alongside a US-based cohort funded by the Alfred P. Sloan Foundation, creating a transatlantic research effort to examine AI’s impact on science. Fellows from both countries will attend a fully funded summer school, strengthening international collaboration and knowledge exchange.

    Applications are especially encouraged from projects exploring the impact of AI on research jobs and skills, how it affects the speed of scientific progress, and the challenges of ensuring AI-driven research remains reliable and explainable.

    Science Minister, Lord Vallance said:

    AI presents new opportunities in a range of sectors, and if researchers can demonstrate its potential to increase transparency, robustness and trust in science then this could pave the way to freeing them up from mundane paperwork tasks while driving growth.

    Supporting researchers to explore how AI can change the way we conduct research and through our joint support with Open Philanthropy for 23 projects exploring wider research and innovation, we will build a better understanding of what works in research – maximising impact, driving discoveries and improving lives.

    In addition to the Fellowship, Department for Science, Innovation and Technology (DSIT) and UK Research and Innovation (UKRI) have awarded £4.8 million in funding for 23 new research projects, which will tackle key questions about how to improve research and innovation, including AI’s impact on science, research integrity, and new models for funding and publishing research.

    It follows a funding call launched last year and includes £1.8 million in co-funding from Open Philanthropy, a US-based foundation.

    Among the winning projects:

    • University of Sheffield: Assessing whether large language models – like ChatGPT – can reliably review academic work and contribute to the UK’s Research Excellence Framework and journal peer review
    • University of Bath: Partnering with Sage Publishing and the Royal Society to test a two-stage peer review process, designed to increase trust in academic findings
    • University College London (UCL): Working with Google DeepMind and the UN Development Programme (UNDP) to explore how AI-driven research can be applied to global challenges, including sustainability and healthcare

    Notes to editors

    List of the Metascience grant winners.

    AI Peer: Large language models and academic peer review outcomes
    Michael Thelwall, University of Sheffield.

    Analysing the Reliability of Quantitative Impact Evaluations (ARGIE)
    Jack Blumenau, University College London.

    Assessing compliance with the FAIR Guiding Principles: a systematic evidence map of data availability in metabolomics research
    Matt Spick, University of Surrey.

    Big Science Beyond Science: The Innovation Impact of Research Infrastructure Procurement
    Riccardo Crescenzi, LSE.

    Commercialising Deep Tech: Understanding Frictions to University Invention Disclosure
    Ramana Nanda, Imperial College London.

    Cultural Traction: Embedding research culture strategy
    S Martin Holbraad, University College London.

    Evaluating the Development and Impact of AI-Assisted Integrity Assessment of Randomised Trials in Evidence Syntheses
    Alison Avenell, University of Aberdeen.

    Everything we (think we) know about Narrative CVs
    Liz Simmonds, University of Cambridge.

    Financial structures for enabling innovator participation and success: experimental evidence from challenge prizes
    Vidal Kumar, Nesta.

    Fostering a Dynamic Academic Ecosystem: Innovative Platforms and Methodologies for Econometrics
    Martin Weidner, University of Oxford.

    Making Replications Count: Identifying Barriers and Enhancing Impact with Innovative Dissemination Tools
    Lukas Wallrich, Birkbeck, University of London.

    Mapping impact pathways: improving our understanding of what mechanisms work in research translation
    Alexandra Pollitt, King’s College London.

    Metascience, research funding and policy priorities
    Annette Boaz, King’s College London.

    People or Projects (PoP)? Investigating different research funding styles
    Ohid Yaqub, University of Sussex.

    PRIME: Peer Review Improvement for Minimizing Bias in Evaluation
    Katherine Button, University of Bath.

    Providing empirical evidence to support greater equality, diversity, and inclusion (EDI) in research funding
    Philip Clarke, University of Oxford.

    Public value mapping for AI
    Jack Stilgoe, University College London.

    Research Software Engineer Metascience
    Heather Packer, University of Southampton.

    Sharing Code for Medical Research: An Audit Tool and Pilot at The BMJ
    Nicholas DeVito, University of Oxford.

    Supporting Research and Researchers through the deployment of Digital Notebooks: A framework for implementation and impact
    Andrew Stewart, University of Manchester.

    Transparent and Reproducible Science in the 21st Century: Unlocking the Benefits of Open Source Code
    Albert Bravo-Biosca, Nesta.

    Understanding Scientific Prizes – Structure, Evolution and Impact
    Ching Jin, University of Warwick.

    Working together or writing together?
    Steven Wooding, University of Cambridge.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

    Updates to this page

    Published 13 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Middlefield Canadian Income PCC – Statement re Notice of Requisition of a General Meeting

    Source: GlobeNewswire (MIL-OSI)

    13 February 2025

    Middlefield Canadian Income PCC (the “Company”)
    including Middlefield Canadian Income – GBP PC (the “Fund”), a cell of the Company
    Registered No:  93546
    Legal Entity Identifier: 2138007ENW3JEJXC8658

    Notice of Requisition of a General Meeting

    The Board of Middlefield Canadian Income PCC (the “Company”) and Middlefield Canadian Income – GBP PC (the “Fund”) announces that it has received a letter from a nominee account acting on behalf of the custodian and prime broker for Saba Capital Management, L.P. requisitioning the Board to convene a general meeting of shareholders (the “Requisition”).

    The Requisition proposes that shareholders be asked to consider, and, if thought fit approve, the taking by the Company of all necessary steps to implement a scheme or process by which shareholders would become (or have the option to become) shareholders of a UK-listed open-ended investment company (or similar open-ended investment vehicle) implementing a substantially similar strategy to the Company, and which could entail shareholders rolling into an existing or newly established UK-listed open-ended investment company (or similar open-ended investment vehicle), in either case managed by the Company’s existing investment manager or one of its affiliates.

    The Board is committed to acting in the best interests of all shareholders and will make a further announcement regarding the Requisition in due course. Accordingly, the Board recommends that shareholders take no action at this time.

    For further information, please contact:

    Middlefield Canadian Income – GBP PC                                via Investec Bank plc
    Michael Phair (Chairman)

    Investec Bank plc
    Corporate Broker
    Helen Goldsmith/David Yovichic
    Tel: 020 7597 4000

    JTC Fund Solutions (Jersey) Limited
    Secretary
    Matt Tostevin/Hilary Jones/Jade Livesey
    Tel: 01534 700 000

    Buchanan
    PR Advisers
    Charles Ryland/Henry Wilson
    Tel: 020 7466 5000

    The MIL Network –

  • MIL-OSI United Kingdom: RAF Digby personnel to benefit from £65 million new accommodation

    Source: United Kingdom – Executive Government & Departments

    The Defence Infrastructure Organisation has awarded a contract to construct 276 single occupancy bedrooms at RAF Digby.

    Artist’s impression of the new blocks. (Copyright Galliford Try/Arcadis)

    The Defence Infrastructure Organisation (DIO) has awarded a £65 million contract for new Single Living Accommodation (SLA) at RAF Digby in Lincolnshire.

    RAF Digby is the RAF’s oldest station, established in 1918, but is now operated by Strategic Command. The contract was awarded to Galliford Try with Arcadis as a Technical Support Provider and will see 4 new blocks of bedrooms created for junior ranks.

    Each block contains a kitchenette, drying rooms, laundry rooms and social spaces, as well as 69 single ensuite rooms.

    The buildings have been designed to be as carbon efficient as possible as part of MOD and wider government push towards net zero. They will benefit from solar panels and be heated using air source heat pumps.

    Other energy efficiency measures include:

    • provision for a system to recover heat from the waste water in the showers
    • temperature-controlled heating zones
    • energy efficient LED lighting
    • electric car charging points

    The contract value also includes provision of car parking, street lighting and landscaped outdoor communal areas. The contractors will be using local suppliers and labour as much as possible to benefit the local economy.

    John Weatherby, DIO’s Principal Project Manager, said:

    It’s fantastic to have reached this important milestone in our goal to transform the accommodation provision at RAF Digby with some high-quality new rooms for junior ranks serving at the station. We look forward to working with Galliford Try on the designs as we prepare for the start of construction in the coming months.

    Wing Commander Neil Hallett, Station Commander RAF Digby, said:

    This is an eagerly anticipated announcement welcomed by the service men and women stationed here. Having modern Single Living Accommodation will significantly improve the lived experience and there is buzz of excitement across the station following this contract award.

    This investment into Royal Air Force Digby is a clear demonstration by the MOD of its intent to enhance the accommodation offer to our personnel while making buildings more sustainable.

    Bill Hocking, Chief Executive of Galliford Try, said:

    We are delighted to be continuing our partnership with the DIO to deliver this much-needed facility for those serving at RAF Digby. We have a strong track record in providing this kind of facility to the armed forces and look forward to ensuring the personnel receive the high-quality living spaces they deserve.

    Construction is expected to start in March.

    Updates to this page

    Published 13 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: expert reaction to systematic review of studies on impacts of global pesticide use on biodiversity

    Source: United Kingdom – Executive Government & Departments

    A systematic review published in Nature Communications looks at the impact of pesticide use on biodiversity.

    Prof Oliver Jones, Professor of Chemistry, RMIT University, said:

    “There is a lot to like in this study. While the authors have not undertaken any new experiments, they have synthesised data from the existing scientific literature to make new deductions about the unintended effects of pesticides. They look at many different species worldwide and it’s great to see that they used environmentally realistic pesticide concentrations in the calculations

    “While the work has generated some useful insights, there are some points to keep in mind.

    “The word pesticide is a catch-all term for any substance used to control a species humans don’t want to be in a particular space. There are several subgroups: Herbicides are used to control plants, insecticides are used to control insects, etc. Because pesticides are designed to control classes of organisms, the fact that non-target species within those classes may also be affected is not new. While the study highlights negative impacts on over 800 non-target species, data was only available for these. Other species may also be impacted, but we don’t have the data on how.

    “There are also many, many pesticides in use, and some have much worse unintended effects than others. The types of pesticides and how they are used also differ between countries. Compounds used in one country are banned in others, making direct comparisons difficult.

    “Also, as the authors themselves point out, pesticide use is essential to modern agriculture; we could not feed the world’s population without them.

    “The above non-withstanding, the central tenet of this work—that if we are serious about reducing biodiversity loss, we need to be careful about how we use pesticides and look for alternative methods where possible—is very sensible. For example, the data from this work might be used to identify the compounds with the largest non-intended effects and remove them from common use in favour of those with the fewest non-intended effects.”

     

    Prof Toby Bruce, Professor of Insect Ecology, Keele University, said:

    “Increasing evidence of off-target effects of conventional pesticides means there is an urgent need to research and deliver alternative, better targeted approaches. Since the Green Revolution, farmers have been heavily reliant on pesticides for protecting their crops because many of the high yielding crop varieties we have today were developed as part of a package together with pesticides.”

    Dr Antonis Myridakis, Lecturer in Environmental Sciences, from Brunel University of London.

    “The study by Wan et al presents a comprehensive synthesis of the negative impacts of pesticides on a wide range of non-target organisms, incorporating data from over 1,700 studies and is methodologically sound. It is a quite extensive evaluation of pesticide effects on biodiversity. The findings reinforce existing concerns that pesticides have far-reaching consequences for non-target species, including plants, animals, fungi, and microbes, thereby contributing significantly to biodiversity loss.

    “The main conclusions are that pesticide exposure leads to reduced growth, reproduction and behavioural changes in a broad spectrum of species. However, while the study provides compelling evidence of harm to over 800 species, it does not comprehensively address the potential impacts on the vast number of other species not included in the dataset. Therefore, there is the possibility that the true extent of pesticide harm is even greater than reported. Another limitation is the reliance on available published data, which may introduce publication bias since studies reporting significant negative effects are more likely to be published than those finding minimal or no effects.

    “From a policy perspective, these findings highlight the need for stricter regulations on pesticide use and a broader implementation of Integrated Pest Management (IPM) strategies. It also underscores the necessity for improved risk assessment methodologies that incorporate ecosystem-wide effects rather than focusing solely on a few model species.

    “Overall, this study provides strong evidence that pesticides pose a significant and widespread threat to biodiversity. While it does not address every possible ecological consequence, its findings are a crucial step toward informing policymakers, farmers, and the public about the hidden costs of pesticide use.”

    Prof Tom Oliver, Professor of Applied Ecology, and Associate Pro-Vice Chancellor for Research (Environment), University of Reading:

    “Understanding the effects of the pesticides on wild species is hugely important. In combination with habitat loss and extreme weather from climate change, these chemicals are thought to be an important factor behind the devastation of our native biodiversity. Importantly, this study has corrected for ‘field-realistic’ levels of exposure. Many industrial chemicals are toxic if poured directly over animals and plants, but the important question is whether the concentration with which pesticides are applied from crops sprayers is damaging. The study finds that a whole range of ‘non-target’ organisations, i.e. those that aren’t pests, but are valuable plants, insects and fungi, are being impacted by these pesticides. Pesticides may be fatal to our native wildlife or they can have sub-lethal effects, such as disrupting growth, reproduction and behaviour (for example, the ability of bees to navigate effectively). The proliferation of certain harm causing human-made chemicals, which escape, or are purposely introduced, into the natural environment is a ticking time-bomb for the health of our ecosystems. It is fortunate that the UK Government (in the recently published 2025 National Risk Register) have now recognised pollution and environmental degradation as a ‘chronic risk’ faced by the UK.”

    ‘Pesticides have negative effects on non-target organisms’ by Nian-Feng Wan et al. was published in Nature Communications at 10:00am UK time on Thursday 13 February 2025. 

    DOI: 10.1038/s41467-025-56732-x

    Declared interests

    Dr Antonis Myridakis: Nothing to declare.

    Prof. Tom Oliver: employed by the University of Reading and has received funding from NERC, Green Finance Institute and BBSRC to develop methodologies for assessing nature-related risks.  He was previously seconded with the Government Office for Science to work with UK Cabinet Office on chronic and acute risks faced by the UK, and was seconded to Defra to help design their Systems Research Programme. He is lead educator on a Future Learn course “Using systems thinking to tackle the climate and biodiversity crisis” and is author of the book “The Self Delusion: The Surprising Science of Our Connection to Each Other and the Natural World” published by Weidenfeld & Nicholson. Oliver sits on the Food Standards Agency science council and is a member of the Office for Environmental Protection expert college.

    Prof Oliver Jones: Although it was over 15 years ago, I have worked and published papers with Dr David J. Spurgeon, who is one of the authors of this paper. I also conduct research on environmental contaminants, including pesticides. I have received funding from the Environment Protection Authority Victoria (https://www.epa.vic.gov.au/) and various water utilities for research on environmental pollution

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Funding boost to enhance walking and cycling routes in Portsmouth

    Source: City of Portsmouth

    Portsmouth City Council will use the funding to deliver improvements designed to help residents embrace healthier and more sustainable travel options. If approved, the council expects to use the funding to improve a crossing on London Road in North End, to make it easier and safer for people walking to navigate the busy district centre.

    This proposed improvement will build on the success of previous funding rounds, which delivered significant upgrades such as the new toucan crossing on Victoria Road North and the improved shared cycling and walking path outside Somerstown Hub. Together, these initiatives are helping to create a safer, more connected network of walking and cycling routes across the city.

    By making it easier and more appealing to travel actively, these upgrades aim to transform Portsmouth into a cleaner, greener, and better-connected city. Portsmouth City Council remains committed to supporting active travel as part of its vision for a healthier, more sustainable future, helping to reduce congestion, improve air quality, and create accessible travel options for everyone.

     Cllr Peter Candlish, Cabinet Member for Transport, Portsmouth City Council, said:
    “This funding allows us to build on the progress we’ve already made in improving walking and cycling across Portsmouth. Safer crossings, better routes, and School Streets are just some of the ways we’re making active travel the easy, accessible choice for everyone. These changes will create a healthier, better-connected city and support a cleaner, greener future for all.”

    The council’s transport service is now working to develop detailed plans for the proposed scheme, which will be presented for consideration at a future decision meeting.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Wavensmere Homes starts work at £150m Wolverhampton Canalside South

    Source: City of Wolverhampton

    Established through a partnership between City of Wolverhampton Council and the Canal & River Trust, the site is located off Qualcast Road, just moments from the transport interchange. Benefiting from a prime waterside position, it enjoys frontage onto both the Wyrley & Essington Canal and the Wolverhampton Branch of the Birmingham Main Line Canal.

    Site enabling works are underway, with groundworks scheduled to commence in Q2 2025. The development will be delivered in 3 phases – progressing sequentially from east to west – to minimise disruption to the surrounding community, and support the timely delivery of essential infrastructure and amenities.

    Phase 1 will comprise 153 contemporary 2 and 3 bedroom houses, with completion scheduled for Q2 2027. Access to the first 2 phases will be provided via Qualcast Road, which will function as the primary Spine Road, seamlessly connecting all secondary routes within the development. Phase 3 will be accessed via Bailey Street and fully integrated into the wider road network, ensuring efficient traffic flow throughout the site and surrounding areas.

    The full regeneration and build programme is projected to complete by the end of Q3 2031.

    James Dickens, Managing Director of Wavensmere Homes, said: “Having received confirmation of £20m of development funding from the West Midlands Combined Authority and Frontier Development Capital only last week, we are thrilled to be demonstrating our focus on deliverability by starting work at Canalside South immediately. With Wavensmere’s proud history of regenerating vacant land in the Black Country, we have mobilised our local and regional supply chain and will transform this current eyesore into a landmark development we can all be immensely proud of.”

    Pat McFadden, MP for Wolverhampton South East said: “It was great to visit and see work getting underway at the former British Steel and Crane Foundry site in Horseley Fields, which has been lying vacant for over 15 years. This redevelopment will revitalise our city centre, while creating hundreds of jobs and giving a major boost to the local economy, now and in the future.”

    The former British Steel site was a regional distribution and stockholding centre which has stood empty since the collapse of British Steel in 2019.

    Councillor Stephen Simkins, Leader of City of Wolverhampton Council, said: “Seeing this impressive scheme get on site is monumental and shows the game changing regeneration the council and its partners are delivering in Wolverhampton. As part of our brownfield first strategy, bringing life back to the redundant sites along our canal network is critical to boosting footfall into our city centre and building communities.

    “The decision to put our faith in Wavensmere Homes has paid off with one of the largest new housing developments in the Midlands and the hundreds of jobs for local people that come with it.

    Ultimately, this £150m development will enable Wolverhampton residents to benefit from superb connectivity, amenities, and health and wellbeing opportunities at this wonderful heritage location.”

    Richard Parker, Mayor of the West Midlands, said: “Wolverhampton desperately needs more homes and getting spades in the ground on Canalside South is part of the solution to that. It’s also why I have invested £20m into the scheme. But it’s more than just bricks and mortar, it’s about creating a thriving new community and shaping a bright future for the city. And it will provide more than a hundred affordable homes for local people, a key priority for me in tackling the region’s housing crisis.”

    Canalside South is one of the biggest regeneration projects of its kind in the region. The overall vision for the Wolverhampton Canalside masterplan is the delivery of around 1,000 homes to meet both the city and wider region’s housing needs, with sustainability and place making at its heart.

    Designed by Glancy Nicholls Architects, the low rise development will emulate the surrounding conservation area and maximise the canalside setting. The scheme will include 7 acres of vibrant green space and open up a new pedestrian route to the city core – reducing the previous walk time by 20 minutes – and igniting new investment into a commercial corridor.

    There will be a total of 378 2 and 3 bedroom townhouses, designed to target an EPC A rated specification, together with 145 1 and 2 bedroom apartments. A building of 10 co-living units – each containing 6 bedrooms – will deliver affordable living typologies to young professionals. 54 houses, together with 80 apartment and co-living bedrooms will benefit from waterside views. The multi award winning urban regeneration specialist will also be reanimating the disused railway arches on the site into 1,338sqm (14,400 sq ft) of lettable commercial space.

    Wavensmere Homes will future proof the new homes by installing electric only heating systems. A range of technologies will be utilised across the development, consisting of air source heat pumps, solar panels and mechanical ventilation with heat recovery (MVHR). There will also be EV charging to each house or parking space, alongside an array of EV chargers for visitors.

    Birmingham headquartered Wavensmere Homes has 3,500 homes on site, or currently in planning. The firm is in the final phase of the £175m Nightingale Quarter, which is the redevelopment of the former Derbyshire Royal Infirmary into 925 energy efficient houses, apartments, and community amenities. The company is constructing 5 other major brownfield regeneration schemes, located in central Birmingham, Derby, Cheltenham, and Ipswich, and has further projects in the immediate pipeline.

    To view the plans, visit Canalside WV1.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Attracting and retaining nurses and midwives

    Source: Scottish Government

    Taskforce report highlights recommended actions.

    A taskforce has published 44 recommended actions on how to improve working conditions for Scotland’s nurses and midwives.

    The Nursing and Midwifery Taskforce was established by the Scottish Government in 2023 to build on efforts to make Scotland the best place for nurses and midwives to work.  Chaired by Health Secretary Neil Gray, it brings together key stakeholders, including the Royal Colleges of Nursing and Midwifery, to engage with nursing and midwifery staff, understand the challenges they face and recommend ways to improve the profession.

    A key part of this work was the Listening Project, which gathered insights from more than 4,000 nurses, midwives, students and academics to shape future improvements. The findings from the Listening Project have led to 44 recommended actions designed to improve recruitment and retention of staff and workplace conditions.

    These actions include:

    • ensuring appropriate staffing levels so that all staff can take the breaks they are entitled to
    • reviewing data-inputting and paperwork requirements to reduce the administrative burden on nurses and midwives
    • developing national guidance on rostering and flexible working to ensure better work-life balance
    • ensuring nurses and midwives can participate in decision making and planning
    • widening entry routes into nursing and midwifery careers

    The next stage of the taskforce will focus on implementation, with a dedicated group developing a detailed work plan and timeline that ensures these recommended actions are delivered effectively.

    Accepting all 44 recommendations, Cabinet Secretary for Health, Neil Gray said:

    “Our nurses and midwives are the backbone of Scotland’s healthcare system and we are committed to ensuring they have the support, flexibility and workplace conditions to thrive.

    “The publication of the Nursing and Midwifery Taskforce report marks an important milestone; we have heard directly from staff about what matters most to them, and this has shaped the recommended actions which will deliver real change for nurses and midwives. I am very grateful to everyone who has taken the time to take part in this important piece of work. The Scottish Government will now work with our partners to deliver the actions contained in the report.”

    Colin Poolman, RCN Scotland Director, said:

    “This is the culmination of two years of collaborative working, and we welcome the recommended actions announced today. We see this as a significant step and, as the implementation board begins its work, the recommendations should provide a strategic roadmap to begin to tackle the nursing retention and recruitment challenges in Scotland.

    “Implementation of the recommendations will take time and investment, we look forward to playing a key role in the Implementation Board to ensure delivery and enable Scottish government to meet its aspiration of making Scotland the best place for nurses and midwives to work.”

    Background 

    The report and recommended actions of the Ministerial Scottish Nursing and Midwifery Taskforce – gov.scot

    Listening Project: You shared, we listened – gov.scot

    Nursing and Midwifery Taskforce – gov.scot

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: University of Aberdeen secures third place in national work experience ranking The University of Aberdeen has been listed as one of the top three Universities in the UK for Work Experience in the 2025 Rate My Placement Awards.

    Source: University of Aberdeen

    The University of Aberdeen has been listed as one of the top three Universities in the UK for Work Experience in the 2025 Rate My Placement Awards.
    Five hundred of the industry’s finest came together celebrate the outstanding achievements of Employers and Universities in providing work experience for students and to find out where they’d placed in the rankings.
    Coming third in the top 50 Universities for Work Experience, a rise of 12 places since 2024, is particularly special given the ranking is solely based on student feedback on the support provided by their University.
    Tracey Innes, Head of the University’s Careers Service, said: “We really do put our students at the heart of everything we do, so this is a terrific result for the Careers and Employability Service team.
    “In addition to supporting students to independently secure work experience, the team have work extremely hard to develop, launch and continually grow the now fully formed ABDN Internship Programme which provides high-quality, paid internships for students.
    “In the short time since its inception, the programme has seen over 135 students interning with over 100 organisations. The programme provides a true win-win, as students bring the kinds of skills needed to make a real impact on projects in the host organisation, while students build evidence of the skills and experience needed for their own career success.”

    The programme provides a true win-win, as students bring the kinds of skills needed to make a real impact on projects in the host organisation, while students build evidence of the skills and experience needed for their own career success.” Tracey Innes, Head of the University’s Careers Service

    Designed to be fully inclusive, the ABDN Internship Programme is open to all students across every discipline and all study levels. One student highlighted its accessibility, stating: “No previous work experience is required,” and praised the 10-hour-per-week structure as manageable alongside studies.
    The team has worked tirelessly to develop efficient, fair and effective application and selection processes, using innovative shortlisting methods. The system and process minimises the time burden for employers in selecting the best candidates, while ensuring applicants can learn from the application experience through constructive feedback, and gain valuable insights to improve future applications.
    The employer engagement team continues to expand partnerships to secure diverse opportunities that align with students’ aspirations. One employer praised the interns, saying: “The engagement and interest from the interns was amazing… the quality of the end result was better than expected.” 
    Commenting on the award, Gary Coull, Employer Engagement Manager recognises the role employers play in supporting students: “I’d also like to give a special thank you to our brilliant employer partners for giving students such impactful and career-enhancing experiences. This is a true partnership and we

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New Culture Derby director appointed

    Source: City of Derby

    The new director of Culture Derby has pledged to work with communities to raise Derby’s profile as a creative and cultural city. 

    Alix Manning-Jones will head up the new strategic development agency to drive the growth and impact of the Derby’s culture and creative sectors. Culture Derby will work alongside the sectors as an advocate and champion, building relationships and working to increase investment.

    Funded by Arts Council England and Derby City Council for an initial two-year period, Culture Derby stems from the Derby Cultural Compact and the UK City of Culture 2025 bid. The Culture Derby Board will bring a wide range of professional skills and experience that is representative of the city, led by the director who will drive forward the plans and secure resources to achieve the project’s goals.

    Alix, who will take up her post at the beginning of April, said:

    Culture Derby will create a vibrant city centre, with culture at the heart. We know that the arts are struggling nationally and locally, and it’s important that we support the cultural sector by maintaining their presence through Culture Derby. 

    I’m committed to delivering high quality, accessible and enjoyable experiences for everyone, to celebrate our city. This is a shared vision and we’ll be working closely with our communities, partners, and businesses. 

    To be able to re-imagine culture in our city, we need to start with listening to our communities and young people and providing opportunities to help shape the programme. I hope to bring a fresh perspective and a new way of working in partnership across all sectors to bring Culture Derby to life.

    Our city needs a cultural beating heart and I’m really looking forward to making that happen.

    Alix has a strong background in the cultural sector. She started her career at the Royal Shakespeare Company and has worked in theatres across the country delivering and producing large-scale festival projects. In 2016 she was appointed as Derby’s Cultural Education Producer and then as Derby’s Opportunity Area Programme Manager, co-producing the This is Derby celebration in 2018. Most recently, Alix has worked at Derby City Council spearheading the city’s Family Hubs programme.

    Councillor Nadine Peatfield, Leader of Derby City Council, said:

    I’m delighted to welcome Alix as Director of Culture Derby. Derby is a city that has always had creativity and innovation at its heart and we believe that every resident and visitor should benefit from the power that arts and culture have to change people’s lives for the better.

    It’s an exciting time in the city, as we look forward to the opening of Becketwell Live and Derby Market Hall. We’re on a mission to create a vibrant hub that celebrates culture and offers something for everyone and I’m excited to work with Culture Derby and our other partners to make that happen.

    Rebecca Blackman, Arts Council England’s Director of Engagement and Communities and Area Director for the Midlands, said:

    We’re delighted to welcome Alix Manning-Jones as Culture Derby’s new director, bringing a wealth of sector experience across the cultural sector, local government, and local communities in Derby.

    Culture Derby is an important new strategic development for Derby, and Alix’s extensive experience in creating collaborative partnerships across culture, education, health, business and the voluntary sector will be a great benefit to Culture Derby. We look forward to working with her.

    Artcore CEO Ruchita Shaikh was part of the interview panel for the director role. She said:

    I am optimistic about the opportunities this new role will bring to the cultural sector in Derby. With fresh perspectives and dedicated support, I am confident that the new director will play a pivotal role in strengthening and enhancing our city’s vibrant cultural landscape. I warmly welcome Alix on board and look forward to the positive impact their leadership will have on Derby’s cultural scene.

    Tony Butler OBE, Executive Director for Derby Museums, who was also on the interview panel, said:

    I want to see culture permeate every area of public policy within our city, from public health to social care, from the environment and net zero, to education and skills. Alix’s great experience in working in the front line and strategically developing cultural programmes in Derby means the cultural sector will be more allied and be able to respond to the needs of the city. She will be a fantastic advocate and connector for culture.

    Dr Rhiannon Jones, Associate Professor (Civic Practice). Head of Civic and Communities University of Derby said: 

    This is an exciting moment for the city, recognising the value of culture as a driver for change which is a key aspect of our Civic University Agreement. We welcome the announcement of Alix as the Culture Derby Director post holder; a role that is crucial and a critical opportunity to support the bold and exciting ambitions for both our communities and for Derby and beyond.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: The semi-final of the “Star of Polytechnic” competition was held at SPbPU

    Translartion. Region: Russians Fedetion –

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

    On February 10, the semi-final of the largest student creative project “Polytech Star” took place in the White Hall. It has been revealing new names of talented singers and presenters for 17 seasons in a row.

    The participants went through castings and numerous rehearsals. The White Hall stage featured everything from original songs to world pop hits. It is worth noting that each of the 15 vocal numbers was carefully prepared and directed by the project organizers’ team under the direction of Maxim Pilyugin. Both the organizers themselves and representatives of the PolyDance dance studio acted as choreographers. The event was held with the support of the Student Club and the help of volunteers from the KOrgi Organizers’ Team.

    We have been preparing the semi-final for a long time and painstakingly, and we managed to make it grandiose and fun at the same time. Now we know how our audience behaves, we can fully adjust the future scenario of the competition final to the viewer, – commented the finalist in the nomination “Hosts”, 2nd year student of the Institute of Culture and Science Vladislava Chanysheva.

    Monday evening was remembered by viewers for its bright and dynamic numbers, unique media support and sincere emotions of the participants and support groups.

    In the semi-final, I experienced a whole range of feelings – from incredible awe, which you only experience when something is truly dear to you, to an absolute feeling of pleasure that penetrated every cell of the body, – shared the finalist of the 17th season, a second-year student of the IPMET Ivan Umrikhin.

    The performances were assessed by experienced experts, for whom creativity, music and youth initiatives have become an integral part of life: Director of the Center for Youth Trajectories “Polytech Tower” Andrey Dolgirev, Chairman of the SPbPU PROF Maxim Susorov, Head of the SPbPU MSN Dmitry Oshkin, as well as finalists of previous seasons of the project Alexey Papin and Adelina Borozdina.

    This season, the gap between the castings and the semi-final was longer than ever, and during this time, the organizers and participants managed to become very attached to each other. Of course, it is sad to realize that our work with some participants has ended, but “Polytech Star” is not only a competition, but also a real friendship and a warm family atmosphere, which we have maintained for many years now and are always happy to see the finalists and semi-finalists of past seasons at our events and rehearsals, – shared the project manager Maxim Pilyugin.

    Of the 22 semi-finalists, 13 made it to the final. The final stage of the competition will be held on April 28 in the White Hall. Then the name of the new “Polytech Star” will be announced. We wish the finalists determination and successful performances. See you in the final!

    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 Russia: Rosneft produced 145 millionth ton of oil at Uvat project

    Translartion. Region: Russians Fedetion –

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

    The accumulated production of RN-Uvatneftegaz (part of the oil production complex of NK Rosneft) has reached 145 million tons of oil since the start of operation of the Uvat project fields located in the south of the Tyumen region. The company provides about 80% of the total volume of oil produced in the region.

    High production indicators were achieved thanks to the introduction of new technologies by RN-Uvatneftegaz specialists, successful exploration work, and the efficient operation of the production fund, which numbers a thousand wells at 24 discovered hydrocarbon fields.

    During the year, more than 380 geological and technical measures were carried out at the Uvat project on the existing well stock, which is 10% higher than the previous period, with additional oil production of more than 500 thousand tons. In 2024, the volume of production drilling amounted to 628 thousand meters. Last year, a new field, Severo-Nemchinovskoye, was put into operation at the Uvat project, and the first commercial oil flow was obtained at the Yuzhno-Venikhyartskaya area. The starting flow rate of the horizontal well was three times higher than the average for the region and amounted to more than 300 tons of oil per day.

    The company is actively expanding its resource base by exploring new license areas. In geological exploration in 2024, the drilling exceeded 27 thousand meters, the success rate of exploration drilling was 100%. Field seismic exploration work was carried out at new sites of Yelovaya, Uspeshnaya and Vostochno-Gerasimovskaya. Based on the results of exploration, 9 new hydrocarbon deposits were discovered.

    To effectively develop deposits in hard-to-reach marshy terrain, the Uvat project uses a strategy to create hubs – centers with a single infrastructure, to which smaller satellite deposits are gradually added. Currently, there are four hubs operating in Uvat: Vostochny, Protozanovsky, Tyamkinsky and Kalchinsky, the infrastructure of which is constantly expanding.

    The construction of new oil and gas production and preparation facilities, interfield pipelines, power generation facilities and social infrastructure continues at the Uvat project fields. In 2024, the company began creating the industrial infrastructure of the Tavricheskoye field, and also commissioned a new Taltsiya 110/10 kV 2×6.3 MVA electrical substation, which will meet the future needs of the production infrastructure of the Protozanovsky hub.

    To improve production efficiency, the company is actively implementing innovative developments from Rosneft, such as the Sfera 3D information technology system, which contains more than 3,000 digital twins of objects and more than 5,700 twins of vehicles. The system allows for prompt, correct technical decisions.

    Last year, the company conducted seven pilot industrial tests of new equipment and technologies, which yielded significant economic benefits.

    RN-Uvatneftegaz is the largest enterprise of Rosneft in the Tyumen region, one of the main subsoil users, taxpayers and employers of the region. Today, the implementation of the Uvat project is ensured by more than 2.7 thousand employees of the enterprise and almost 7 thousand employees of contractors. RN-Uvatneftegaz creates conditions for their comfortable living, including at autonomous fields. Based on the results of work in the social sphere, the enterprise became the winner of the regional stage of the competition “Russian Organization of High Social Efficiency” in several nominations at once, including for the best conditions for employees with families.

    The Uvat project uses modern technologies that ensure a high level of environmental protection, industrial safety and labor protection. The company carries out systematic work on reforestation and conservation of aquatic biological resources of the region. Over the past five years, RN-Uvatneftegaz has planted 6 million pine and spruce seedlings, and released more than 6.6 million juveniles of valuable fish species into the rivers of the Ob-Irtysh basin. In addition, the company supports scientific research, for example, on the conservation of the forest reindeer population in the Tyumen region, and carries out active environmental education work.

    For almost 25 years, RN-Uvatneftegaz has played a significant role in the socio-economic development of the Tyumen Region. Under the current agreement between Rosneft and the region, the company annually provides support to medical, sports, cultural and educational institutions. As part of the corporate continuous education program “School-College/University-Enterprise”, “Rosneft-Classes” have been operating in the region for 10 years, preparing future specialists for the oil industry from school.

    The company also closely cooperates with the indigenous peoples of the Uvatsky District, helping to preserve their unique national culture and way of life.

    Department of Information and Advertising of PJSC NK Rosneft February 13, 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 Russia: Rosneft Launches Unique Project Dedicated to 80th Anniversary of Great Victory

    Translartion. Region: Russians Fedetion –

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

    Rosneft has launched a historical research project, The Great Patriotic War in the History of My Family, dedicated to the 80th anniversary of the Great Victory. Its goal is to find unknown and lost information about veterans, home front workers, concentration camp prisoners and children of war.

    The first enterprise of the Company to launch the project was RN-Nyaganneftegaz (part of the oil production unit of Rosneft).

    The unique project involves employees of the enterprise, production veterans and students of the Rosneft Class. During 2025, the participants will send documents, photographs and stories of their relatives related to the war to the corporate museum.

    The surviving letters from the front and the soldiers’ diary entries will later be included in the Victory Museum project “Voices of Victory: Bringing History to Life Through Letters from the Front.”

    In addition, all collected historical data will form the basis of a series of patriotic events “RN-Nyaganneftegaz”, and will also replenish the collection of the country’s main Victory Museum, located on Poklonnaya Hill in Moscow.

    Reference:

    “RN-Nyaganneftegaz” is the main oil producing enterprise in the city of Nyagan. The enterprise carries out industrial exploitation of the Krasnoleninsky set of fields in licensed areas located in the territory of the Khanty-Mansiysk Autonomous Okrug – Yugra.

    Department of Information and Advertising of PJSC NK Rosneft February 13, 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 Submissions: Strategic partnerships key to catalyzing bank BNPL growth in the US, says GlobalData

    Source: Global Data

    Following the news that Swedish fintech company Klarna has partnered with JP Morgan Payments to expand buy now, pay later (BNPL) options for merchants in the US;

    Phoebe Hodgson, Associate Analyst, Banking and Payments at GlobalData, a leading data and analytics company, offers her view:

    “Just months ahead of its anticipated April IPO, Klarna is integrating its payment options into JP Morgan Payments Commerce Solutions platform. As the largest payments acceptance player in the US, surpassing Stripe, Adyen, and others, JP Morgan’s decision to integrate Klarna rather than scale its own internal My Chase Plan BNPL solution highlights the strategic benefits of collaboration. The partnership not only strengthens Klarna’s presence in the US but also boosts its visibility ahead of its IPO. Meanwhile, for JP Morgan, the alliance allows the bank to expand its BNPL capabilities efficiently, giving US consumers access to a proven solution without the challenges of in-house development.

    “As per GlobalData’s E-commerce Analytics, the US BNPL market is projected to reach a value of $240.8 billion by 2028, almost double its 2024 size. This exceptional growth has drawn significant interest from banks and financial service providers eager to capitalize on BNPL’s lucrative opportunities. While many have explored developing their own BNPL solutions, banks are increasingly seeing the advantages of collaborating with established BNPL providers to enhance their offerings and drive consumer adoption. Recognizing the value of these partnerships, the industry is now witnessing a shift in strategy, with banks working alongside BNPL providers to deliver more integrated and scalable solutions.

    “Beyond Klarna and JP Morgan, another major collaboration is taking shape between FIS and Affirm, introducing a BNPL option for debit card transactions. This partnership enables FIS clients, primarily banks, to integrate pay-over-time solutions directly into their digital banking and mobile platforms. By embedding itself within debit programs, Affirm gains further access to a broad network of financial institutions, deepening its influence in the US payments landscape.

    “As the second-largest BNPL provider in the US, Affirm has successfully built a powerful ecosystem centered on merchant ROI, seamless consumer experiences, and an intuitive app. These factors have fueled increased merchant transactions and market share growth. Through its partnership with Affirm, FIS can tap into this ecosystem, providing its banking customers with advanced payment options and responding to the growing consumer demand for flexible payments.

    “These partnerships raise a critical question: does BNPL function better as a standalone business rather than as part of a broader fintech stack? While time will determine the ultimate success of these alliances, the strong growth of standalone BNPL providers like Klarna and Affirm combined with banks’ increasing preference for collaboration, suggests that partnerships offer a faster and more effective route for banks to establish a strong BNPL presence. As such, strategic alliances are proving essential for banks looking to enhance their payment offerings and capture a greater share of the fast-growing US BNPL market.”

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

    MIL OSI – Submitted News –

  • MIL-OSI Europe: Envisioning Tomorrow: The Role of CBDCs in Europe’s Digital Financial Ecosystem | Frankfurt Digital Finance Conference

    Source: Deutsche Bundesbank in English

    Check against delivery.
    1 Introduction
    Good morning ladies and gentlemen and thank you very much for your warm welcome.
    I am honoured to have been invited back to this year’s Frankfurt Digital Finance Conference in this wonderful building here in Frankfurt’s Palmengarten and to have been asked to hold a keynote to kick off today’s event.
    Allow me to begin my keynote this morning with a quote attributed to Oscar Wilde: The future belongs to those who recognise opportunities before they become obvious. These words, ladies and gentlemen, could not be any better suited to our financial ecosystem. 
    And it is precisely opportunities that I wish to address in my keynote today – the opportunities provided by central bank digital currencies, or CBDCs for short. A subject that is as timely as it is significant.
    2 The future is digital
    We are at the cusp of a new era. One in which the digitalisation of the financial sector is not just an option but a necessity. New technologies are venturing into the realm of payments and new forms of money, such as digital central bank currencies and stablecoins, are also emerging as alternatives to physical cash.
    These developments all pose new challenges for central banks. Ultimately, central banks must continue to ensure secure and efficient payments in line with their mandate and redefine their role in an increasingly digitalised world in order to maintain the public’s trust in our monetary system.
    The question that we therefore now face is: how do we respond to these technological challenges?
    And that is precisely why we in the Eurosystem – by that I mean the European Central Bank and the national central banks of the euro-area member states, including the Bundesbank – are taking a proactive approach to actively help shape the future of Europe’s digital financial ecosystem.
    3 What are we aiming to achieve with the introduction of a digital euro?
    One could argue that the Eurosystem already offers enough sufficiently well-functioning products, be it physical banknotes and coins or cashless payment instruments. After all, these have proven their worth for decades. Yet at the same time, we cannot simply ignore the evolving world around us. In an increasingly digitalised society, we must adapt to the changing needs and demands of consumers and rethink our payment services. 
    Let me outline the three key motivations behind the possible introduction of a retail CBDC in Europe – a digital euro, which we sometimes like to summarise as resilience, autonomy and efficiency.
    Let me first start with resilience. The foundation of an independent and efficient monetary policy is the adoption and use of the euro. By providing our common currency – the euro – in its form as legal tender and as a modern “all-in-one” digital payment solution, we are paving the way for our currency to enter the digital age, making it “future-proof” and fit for purpose in an increasingly digital society.
    The digital euro would thereby help to preserve the euro’s fulfilment of the core monetary functions and shield the euro area from competing foreign currencies as well as foreign – and potentially unregulated – stablecoins by safeguarding the anchor function of central bank money.
    Second, the digital euro is necessary to improve the autonomy of the European payment system. In its current form, the European payments landscape is highly dependent on non-European providers. Almost 25 years after the introduction of the euro, we still do not have a digital payment solution that can be used across the entire euro area and that runs on a European infrastructure, which, in my view, is not compatible with the concept of a single European market. Although a small number of successful payment innovations have emerged across the euro area over the past years, such as iDEAL in the Netherlands or BIZUM in Spain, the reach of these payment solutions usually ends at national borders.
    As a result, payments in Europe are largely dependent on international schemes, primarily those in the United States. At present, just under two thirds of all card payments in the euro area are processed by non-European providers. And I believe that Europe’s dependencies in the digital age are likely to increase if we do not fundamentally take matters into our own hands. 
    Third, is the issue of efficiency. By creating a pan-European payment rail in a technically modern form, we would foster competition and innovation in payments across Europe, which we believe is the best path towards efficiency in payments. The payment initiatives we have today, such as BIZUM or WERO, would be able to integrate the digital euro into their payment applications, thereby enabling them to gain instant European reach.
    4 What would a digital euro be for the common citizen?
    Although the issues I have just touched upon are very important, they are not necessarily of primarily relevance for the daily life of a majority of citizens in Europe. Hence, what would the digital euro be from the perspective of the customer?
    I believe that the digital euro would not just be a commitment to Europe’s autonomy, increase the resilience of our payment system and foster competition and innovation, it would also improve payments and make life easier for the 350 million residents of the euro area.
    The digital euro would serve as an additional means of payment alongside cash. As a digital upgrade of banknotes and coins, it would be an “all-in-one payments solution”, as we like to call it, which means it can be used in almost all everyday payment situations, including at retail checkouts, transactions among family and friends, online purchases, and payments to or from public authorities. Furthermore, it would be the first digital currency which could be used both online and offline. That is to say, also in the event of a loss of internet reception.
    Moreover, the design of the digital euro would ensure that it would offer the highest possible level of user privacy, comparable only to cash. No other digital means of payment in Europe currently offers all these features.
    Despite the many benefits the digital euro would bring for Europe as a whole, we must, nevertheless, proceed with caution. The introduction of a digital euro raises important questions about privacy, security, and the impact on financial stability and monetary policy. We must ensure that the digital euro upholds the highest standards of data protection, that it is resilient against cyber threats, and that it does not have a negative impact on financial stability.
    5 Wholesale CBDC
    Digitalisation raises questions not only in terms of how we intend to continue providing access to central bank money for our European citizens in future, but also in terms of how we intend to supply money to our wholesale customers. It is and will remain essential that we are able to settle digital transactions using new and innovative technologies, such as distributed ledger technology (DLT) in central bank money. An entire ecosystem is currently evolving around the tokenisation of securities, which involves all parts of the financial system.
    Like other financial players, the Bundesbank, and also the Eurosystem as a whole, see the significant benefits that the use of these new technologies can bring. The advantages of DLT, such as automated settlement by means of smart contracts and reduced reconciliation needs, are clear.
    But to fully harness this potential, we also need an innovative settlement mechanism for the cash leg – one which settles transactions in central bank money. We are therefore working on developing wholesale solutions that enable banks to settle DLT-based financial market transactions in central bank money. 
    The Eurosystem recently completed an exploration phase together with the market, which ran from May to November 2024, during which we tested various new technologies for wholesale central bank money settlement using real transactions. The Bundesbank also participated in this exploration phase with its “Trigger solution”, which builds a bridge between DLT platforms and the conventional TARGET payment system. The feedback we have received from the market so far has been very positive. I think we can already say that the exploration phase was a complete success.
    The anticipated benefits of DLT are seen as having the potential to address and overcome the ecosystem’s current shortcomings, such as fragmentation, complexity, over-intermediation, and technological inefficiencies, which hinder the growth of a digital capital markets union. 
    By developing a new ecosystem from the ground up, it could be made more integrated and harmonised, featuring a “common set of rails” – a shared ledger or a network of fully interoperable ledgers – that would guarantee reachability, open access, and compatibility across the services of all participants.
    Our primary focus is now on implementing a short-term wholesale solution to meet the immediate and growing demands of the market. This will buy us some much-needed time to continue working on a vision for a long-term solution for wholesale CBDC. A solution which must ultimately go hand in hand with the evolving financial market ecosystem.
    6 Business-to-business (B2B) payments
    Alongside its work into the possible introduction of a digital euro and the exploration of wholesale CBDC, the ECB, together with the Eurosystem, has also been turning its focus to another area of payments – one which is increasingly gaining traction: business-to-business payments, or B2B payments for short.
    To fully leverage the potential of the evolving payments landscape in the area of CBDCs, last October the ECB organised a special focus workshop on innovations in B2B payments and the role central bank money could play. 
    This workshop provided a one-of-a-kind platform to learn more about the potential use cases out there in the market. Given the high level of interest shown in the first focus workshop, I’m sure this will not be the last one of its kind.
    7 Outlook
    Ladies and gentlemen,
    The introduction of the digital euro and the exploration of wholesale CBDC and B2B use cases are not just a technical exercise, but a clear commitment to the innovative strength and competitiveness of Europe.
    The Bundesbank and the Eurosystem are determined to play an active role in shaping this digital transformation.
    It is, however, crucial that we continue working together and pool our resources and expertise in order to fully exploit the opportunities offered by digitalisation to create a strong, stable and future-proof digital financial ecosystem for Europe.
    Thank you for your attention.

    MIL OSI

    MIL OSI Europe News –

  • MIL-OSI Economics: New Zealand life insurance market to reach $4.8 billion by 2029, forecasts GlobalData

    Source: GlobalData

    New Zealand life insurance market to reach $4.8 billion by 2029, forecasts GlobalData

    Posted in Insurance

    The life insurance market in New Zealand is projected to grow from NZD5.9 billion ($3.5 billion) in 2024 to NZD8.3 billion ($4.8 billion) in 2029 registering a compound annual growth rate (CAGR) of 7.0%, in terms of gross written premium (GWP), driven by increasing demand for whole life and personal accident and health (PA&H) insurance, as well as a growing awareness of protection policies, according to GlobalData, a leading data and analytics company.

    GlobalData’s Insurance database indicates that the New Zealand life insurance market is expected to reach NZD6.4 billion ($3.8 billion) in gross written premiums (GWP) in 2025, registering an 8.2% annual growth. Factors fueling this growth include an aging population, heightened health awareness, and the rising cost of living, which have increased the need for financial protection.

    New Zealand’s economy, primarily driven by agriculture and services, is projected to rebound with a real GDP growth rate of 2% in 2025, compared to 0.73% in 2023 and 0.24% in 2024.

    Swarup Kumar Sahoo, Senior Insurance Analyst at GlobalData, comments: “Economic recovery, coupled with easing inflation and increased private investment, will support household consumption and drive demand for life insurance products. However, challenges such as high unemployment and inflation could pose risks to this growth.”

    Life personal accident and health (PA&H) insurance represents the largest line of business in the New Zealand life insurance industry, accounting for 65.3% of the life insurance GWP in 2024. It is expected to grow at a CAGR of 6.9% over 2025-29, driven by rising healthcare expenditure and a resultant 10%-15% increase in premium prices in 2024.

    According to the Financial Services Council (FSC), the percentage of New Zealanders with health insurance rose from 32% in 2022 to 37% in 2023, indicating a higher uptake of health policy due to growing concern regarding access to quality healthcare.

    Term life insurance, which holds a 27.8% share of the life insurance GWP in 2024, is projected to grow at a CAGR of 6.4% during 2025–2029.

    Sahoo adds: “Term life policies are favored for their affordability and are popular for covering mortgages and personal loans. As a result, despite economic challenges, term life insurance remains resilient.”

    Whole-life insurance, the third-largest line of business, accounted for only 3.8% of the total life insurance GWP in 2024. However, it recorded an impressive CAGR of 19.2% during 2020-24 and is estimated to grow at a CAGR of 8.0% over 2025-29. According to Stats NZ, the population over 65 years old is projected to reach 1.3 million by 2040, which will drive the demand for whole-life insurance products in the country. Also, life expectancy at birth has increased from 81.6 years in 2015 to 82.9 years in 2024.

    Other life insurance products are expected to make up the remaining 3.1% share of the life insurance GWP in 2024.

    Sahoo concludes: “The lower life insurance penetration rate in New Zealand (1.3%) in 2023 compared to other APAC peers such as South Korea (7.4%), Hong Kong (China SAR) (15.9%), Japan (6.3%), and Singapore (7.5) provides ample growth opportunity to insurers.

    “However, the rising cost of living will result in underinsurance and hinder the growth of the life insurance market. To address this issue, insurers need to introduce innovative products and leverage digital technologies to make insurance more affordable and accessible.”

    MIL OSI Economics –

  • MIL-OSI Economics: Strategic partnerships key to catalyzing bank BNPL growth in the US, says GlobalData

    Source: GlobalData

    Strategic partnerships key to catalyzing bank BNPL growth in the US, says GlobalData

    Posted in Banking

    Following the news that Swedish fintech company Klarna has partnered with JP Morgan Payments to expand buy now, pay later (BNPL) options for merchants in the US;

    Phoebe Hodgson, Associate Analyst, Banking and Payments at GlobalData, a leading data and analytics company, offers her view:

    “Just months ahead of its anticipated April IPO, Klarna is integrating its payment options into JP Morgan Payments Commerce Solutions platform. As the largest payments acceptance player in the US, surpassing Stripe, Adyen, and others, JP Morgan’s decision to integrate Klarna rather than scale its own internal My Chase Plan BNPL solution highlights the strategic benefits of collaboration. The partnership not only strengthens Klarna’s presence in the US but also boosts its visibility ahead of its IPO. Meanwhile, for JP Morgan, the alliance allows the bank to expand its BNPL capabilities efficiently, giving US consumers access to a proven solution without the challenges of in-house development.

    “As per GlobalData’s E-commerce Analytics, the US BNPL market is projected to reach a value of $240.8 billion by 2028, almost double its 2024 size. This exceptional growth has drawn significant interest from banks and financial service providers eager to capitalize on BNPL’s lucrative opportunities. While many have explored developing their own BNPL solutions, banks are increasingly seeing the advantages of collaborating with established BNPL providers to enhance their offerings and drive consumer adoption. Recognizing the value of these partnerships, the industry is now witnessing a shift in strategy, with banks working alongside BNPL providers to deliver more integrated and scalable solutions.

    “Beyond Klarna and JP Morgan, another major collaboration is taking shape between FIS and Affirm, introducing a BNPL option for debit card transactions. This partnership enables FIS clients, primarily banks, to integrate pay-over-time solutions directly into their digital banking and mobile platforms. By embedding itself within debit programs, Affirm gains further access to a broad network of financial institutions, deepening its influence in the US payments landscape.

    “As the second-largest BNPL provider in the US, Affirm has successfully built a powerful ecosystem centered on merchant ROI, seamless consumer experiences, and an intuitive app. These factors have fueled increased merchant transactions and market share growth. Through its partnership with Affirm, FIS can tap into this ecosystem, providing its banking customers with advanced payment options and responding to the growing consumer demand for flexible payments.

    “These partnerships raise a critical question: does BNPL function better as a standalone business rather than as part of a broader fintech stack? While time will determine the ultimate success of these alliances, the strong growth of standalone BNPL providers like Klarna and Affirm combined with banks’ increasing preference for collaboration, suggests that partnerships offer a faster and more effective route for banks to establish a strong BNPL presence. As such, strategic alliances are proving essential for banks looking to enhance their payment offerings and capture a greater share of the fast-growing US BNPL market.”

    MIL OSI Economics –