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  • MIL-OSI Russia: Polytechnic students reach semi-finals of XI All-Russian engineering competition

    Translartion. Region: Russians Fedetion –

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

    The selection round of the XI All-Russian Engineering Competition has ended. Experts evaluated over 12,000 projects and scientific research. 751 graduates from universities across the country, including SPbPU, reached the semi-finals. The All-Russian Engineering Competition is an annual intellectual competition that has been held since 2014. The organizer is the Ministry of Science and Higher Education of the Russian Federation. The operator of the competition is the National Research Nuclear University MEPhI.

    The objectives of the competition are to develop the human resources potential of high-tech industries, to attract young people to solve promising production, technical, and economic problems of strategic importance for the development of Russian industry, and to improve the quality of engineering education by creating tools for interaction between engineering educational organizations and high-tech enterprises in the real sector of the economy.

    Peter the Great St. Petersburg Polytechnic University will be represented in the semi-final of VIK 24/25 by 11 students, including 5 master’s students from the Advanced Engineering School of SPbPU “Digital Engineering”:

    Alena Aquentieva, student of the Higher Engineering and Economic School of IPMEIT SPBPU. The theme of the project “Financial pyramids, modern methods of fraud: analysis and measures to reduce them”, the direction of the competition “Countering technogenic, biogenic, sociocultural threats, terrorism and extremist ideology, destructive foreign information and psychological impact, as well as cyberosis and other danger to society , economics and state ”;
    Anna Gaina, student of the Higher School of Management of Cyber-Physical Systems of the ICNK SPBPU. The theme of the project “Universal system of temperature control of laser radiation parameters during hardening steel”, the direction of the competition “Intellectual transport, energy and telecommunication systems”;
    Iona Gesin, student of the advanced engineering school of SPBPU “Digital Engineering”. The theme of the project “Study of the behavior of through cracks in elastic-high bodies”, the direction of the contest “Advanced digital technologies for designing and creating high-tech products”;
    Natalia Grozova, student of the advanced engineering school of SPBPU “Digital Engineering”. The theme of the project “Development of radiation -resistant polymer composite materials to protect solar elements”, the direction of the competition “New materials, chemical compounds and design methods;
    Ilya Ermilov, student of the advanced engineering school of St. Petersburg State University “Digital Engineering”. The theme of the project “Development of a virtual test stand for validation of the model of compositional material under the action of centrifugal force”, the direction of the contest “Advanced digital technologies for designing and creating high -tech products”;
    Ekaterina Isupova, student of the Higher School of Applied Physics and Space Technologies IEIT SPBPU. The theme of the project “Universal temperature control system for high -precision measurements in frequency standards”, the direction of the competition “Advanced digital design and creation of high -tech products”;
    Julia Kolesnikova, student of the Higher Engineering and Economic School of IPMEIT SPBPU. The theme of the project “Using new technologies for illegal purposes”, the direction of the competition “Combating technogenic, biogenic, sociocultural threats, terrorism and extremist ideology, destructive foreign information and psychological impact, as well as cyberosis and other danger to society, economy and state”;
    Nikita Piskun, a student of the advanced engineering school of St. Petersburg State University “Digital Engineering”. The theme of the project “Synthesis of non -linear models of reduced order based on the method of final elements in the tasks of rotary dynamics”, the direction of the contest “Advanced digital design technologies and the creation of high -tech products”;
    Elena Porfiryeva, student of the Higher School of Management of Cyber-Physical Systems of the ICNK SPBPU. The theme of the project “A new non -invasive method for determining the coefficients in ESCCO technology for the reliable diagnosis of the patient’s heart release in real time”, the direction of the “High -tech healthcare contest and health technology, including the rational use of drugs (primarily antibacterial) and the use of genetic data and technologies” ;
    Yana Sprygina, student of the advanced engineering school of SPBPU “Digital Engineering”. The theme of the project “Development and training of a prototype of the language model to adapt the requirements in the machine-readable IDS format (Information Delivery Specification)”, the direction of the “Tim-modeling in construction” contest;
    Lina Sycheva, student of the Higher School of Management of Cyber-Physical Systems of the ICNK SPBPU. The theme of the project “Automatic management system of a special climatic camera”, the direction of the contest “Advanced digital technologies for designing and creating high -tech products”.

    The development of modern protective coatings for solar cells used in the space industry is an important problem in the field of materials science. Glass coatings currently used have significant drawbacks. A promising direction is the use of polymer and composite materials that are highly flexible, low density and have excellent optical characteristics. The key challenge remains increasing the resistance of such materials to radiation, which requires the creation of fundamentally new composite materials. This is the task that was set during the project. Thanks to the equipment laboratories “Polymer composite materials”, as well as the competencies of the project curator, research fellow of the laboratory “Modeling of technological processes and design of power equipment” of the SPbPU PISh “Digital Engineering” Elizaveta Bobrynina, I managed to develop and test the technology for obtaining optically transparent composite materials based on thermoplastic polyurethane and glass flakes to protect solar cells, – shared 2nd year master’s student of the SPbPU PISh Natalia Grozova.

    I submitted a project for the All-Russian engineering competition, “Development of a virtual test bench for validation of a composite material model under centrifugal force”, prepared in the interests of the industrial partner of the SPbPU PIS “Digital Engineering”, CentroTech-Engineering LLC, under the supervision of the curator, associate professor of the Higher School of Advanced Digital Technologies of the SPbPU PIS Ilya Keresten and scientific consultant, engineer of the power engineering department of the SPbPU PIS “Digital Engineering” Daria Ozhgibesova. The goal of the work is to create a VIS for conducting virtual tests, which will allow obtaining a degradation curve of the mechanical properties of the material based on experimental data of structurally similar samples. The result of the work is necessary to obtain a highly accurate digital model of the material required for the calculation justification of the design elements of high-speed rotor systems, and the modeling technique will reduce the number of tests of prototypes of new design solutions, said Ilya Ermilov, a second-year master’s student at the Digital Engineering School.

    On February 1, an extensive business program started for the participants: in-person events for the semi-finalists will be organized together with the competition’s partner employers, including career consultations, trainings and master classes aimed at developing professional skills, as well as effective planning of work on engineering projects. The semi-final will include a “Job Auction” – a competition in which participants will be able to compete for the best offers from leading employers.

    The final of the competition will be held in the format of defending final and scientific qualification works before state examination (expert) commissions headed by the top officials of high-tech corporations. Based on the results of the defenses, the winners and prize-winners of VIK 24/25 will be determined.

    The best participants will be able to receive exclusive job offers, cash prizes from Rosatom State Corporation, a trip to the cosmodrome from Roscosmos State Corporation and advantages when entering the next level of education. Winners and prize winners will be included in the state information resource about individuals who have demonstrated outstanding abilities of the Talent and Success educational foundation.

    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 Canada: CRTC Broadband Fund: Project selected in January 2025

    Source: Government of Canada News

    The CRTC is committing over $14 million to CityWest Cable and Telephone Corp. to build approximately 250 kilometres of new transport fibre infrastructure. This project will connect the communities of Jade City and Good Hope Lake (Dease River) in British Columbia and Upper Liard in the Yukon to high-speed Internet.

    MIL OSI Canada News –

  • MIL-OSI Asia-Pac: Survey on Small and Medium-Sized Enterprises’ Credit Conditions for fourth quarter 2024

    Source: Hong Kong Government special administrative region

    Survey on Small and Medium-Sized Enterprises’ Credit Conditions for fourth quarter 2024
    Survey on Small and Medium-Sized Enterprises’ Credit Conditions for fourth quarter 2024
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    The following is issued on behalf of the Hong Kong Monetary Authority:     The Hong Kong Monetary Authority (HKMA) published today (February 3) the results of Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for the fourth quarter of 2024. According to the survey, SMEs’ credit conditions remained broadly stable.           Regarding SMEs’ perception of banks’ credit approval stance relative to 6 months ago, excluding respondents who answered “no idea/ don’t know”, 70 per cent perceived a “similar” or “easier” credit approval stance in the fourth quarter of 2024, down from 76 per cent in the previous quarter (Chart 1 in the Annex). 30 per cent perceived a “more difficult” credit approval stance, compared to 24 per cent in the previous quarter. The perception of a more difficult credit approval stance may not necessarily reflect actual difficulties faced by SMEs in obtaining bank credit as the perception could be affected by a number of factors, such as media/news reports, business conditions and opinions of relatives and friends.           Among respondents with existing credit lines, 0 per cent reported a “tighter” banks’ stance, down further from 1 per cent in the previous quarter (Chart 2 in the Annex). In this survey, a tighter stance on existing credit lines denotes a range of possible measures or arrangements, such as reducing unused and used credit lines, raising the interest rate, imposing additional collateral requirements, or shortening loan tenor. Therefore, respondents’ indication of banks’ stance on existing credit lines may not directly reflect banks’ supply of credit to SMEs.            The survey also gauged the results of new credit applications from SMEs. 4 per cent of the respondents reported that they had applied for new bank credit during the fourth quarter of 2024. Among the respondents who had already known their application outcomes, 77 per cent reported fully or partially successful applications, down from 79 per cent in the previous quarter (Chart 3 in the Annex).           Owing to small sample sizes of SMEs with existing credit lines (26 per cent of surveyed SMEs) and with new credit applications (4 per cent of surveyed SMEs) during the quarter, the results could be prone to large fluctuations, and hence should be interpreted with care.About Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions           In light of the importance of SMEs to the Hong Kong economy and concerns about potential funding difficulties facing SMEs over the past few years, the HKMA has appointed the Hong Kong Productivity Council (HKPC) to carry out this survey, starting from the third quarter of 2016. This survey is conducted on a quarterly basis, covering about 2 500 SMEs from different economic sectors each time. The results of this survey can help monitor the development of SMEs’ access to bank credit from a demand-side perspective.           The results of this survey should be interpreted with caution. Similar to other opinion surveys, views collected in this survey may be affected by changes in sentiment due to idiosyncratic events that occurred over the survey period, which can make the results prone to fluctuations. Readers are advised to interpret the results together with other economic and financial information. In addition, views collected are limited to the expected direction of inter-quarter changes (e.g. “tighter”, “no change” or “easier”) without providing information about the magnitude of these changes.           Detailed tables and technical information of this survey are published on the website of the HKPC (smecc.hkpc.org).

     
    Ends/Monday, February 3, 2025Issued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Provisional statistics of retail sales for December 2024 and whole year of 2024

    Source: Hong Kong Government special administrative region

         The Census and Statistics Department (C&SD) released the latest figures on retail sales today (February 3).

         The value of total retail sales in December 2024, provisionally estimated at $32.8 billion, decreased by 9.7% compared with the same month in 2023. The revised estimate of the value of total retail sales in November 2024 decreased by 7.3% compared with a year earlier.

         Of the total retail sales value in December 2024, online sales accounted for 7.2%. The value of online retail sales in that month, provisionally estimated at $2.4 billion, decreased by 17.2% compared with the same month in 2023. The revised estimate of online retail sales in November 2024 decreased by 7.2% compared with a year earlier.

         After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in December 2024 decreased by 11.5% compared with a year earlier. The revised estimate of the volume of total retail sales in November 2024 decreased by 8.4% compared with a year earlier.

         Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing December 2024 with December 2023, the value of sales of jewellery, watches and clocks, and valuable gifts decreased by 13.8%. This was followed by sales of other consumer goods not elsewhere classified (-2.9% in value); commodities in supermarkets (-3.1%); wearing apparel (-11.1%); food, alcoholic drinks and tobacco (-0.6%); commodities in department stores (-8.9%); medicines and cosmetics (-2.2%); electrical goods and other consumer durable goods not elsewhere classified (-20.2%); motor vehicles and parts (-36.3%); fuels (-11.2%); footwear, allied products and other clothing accessories (-4.9%); Chinese drugs and herbs (-2.2%); furniture and fixtures (-22.0%); books, newspapers, stationery and gifts (-9.6%); and optical shops (-7.5%).

         Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales decreased by 0.1% in the fourth quarter of 2024 compared with the preceding quarter, while the provisional estimate of the volume of total retail sales decreased by 0.2%.

         For 2024 as a whole, the value of total retail sales was provisionally estimated at $376.8 billion, decreased by 7.3% in value and 9.0% in volume compared with 2023. The value of online retail sales was provisionally estimated at $31.7 billion, decreased by 2.6% over 2023.
     
         Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing the whole year of 2024 with the whole year of 2023, the value of sales of jewellery, watches and clocks, and valuable gifts decreased by 14.5%. This was followed by sales of commodities in supermarkets (-1.5% in value); wearing apparel (-10.6%); food, alcoholic drinks and tobacco (-3.2%); electrical goods and other consumer durable goods not elsewhere classified (-11.3%); commodities in department stores (-13.9%); motor vehicles and parts (-17.2%); fuels (-11.4%); footwear, allied products and other clothing accessories (-7.5%); furniture and fixtures (-14.4%); Chinese drugs and herbs (-14.8%); and optical shops (-13.6%).

         On the other hand, the value of sales of other consumer goods not elsewhere classified increased by 0.4% in 2024 compared with 2023. This was followed by sales of medicines and cosmetics (+4.4% in value); and books, newspapers, stationery and gifts (+4.7%).

    Commentary

         A government spokesman said that the value of total retail sales declined further in December from a year earlier, partly reflecting the impact of residents’ increased outbound trips during the holidays. For the fourth quarter as a whole, the value of total retail sales fell by 6.7% year-on-year, narrower than the 9.6% decrease in the preceding quarter.

         Looking ahead, the spokesman said that the near-term performance of the retail sector would continue to be affected by the change in consumption patterns of visitors and residents. Nevertheless, the introduction of various measures by the Central Government to boost the Mainland economy and benefit Hong Kong, together with the SAR Government’s proactive efforts to promote tourism development and boost market sentiment, as well as increasing employment earnings, would benefit the retail sector.

    Further information

         Table 1 presents the revised figures on value index and value of retail sales for all retail outlets and by broad type of retail outlet for November 2024 as well as the provisional figures for December 2024. The provisional figures on the value of retail sales for all retail outlets and by broad type of retail outlet as well as the corresponding year-on-year changes for the whole year of 2024 are also shown.

         Table 2 presents the revised figures on value of online retail sales for November 2024 as well as the provisional figures for December 2024. The provisional figures on year-on-year changes for the whole year of 2024 are also shown.
     
         Table 3 presents the revised figures on volume index of retail sales for all retail outlets and by broad type of retail outlet for November 2024 as well as the provisional figures for December 2024. The provisional figures on year-on-year changes for the whole year of 2024 are also shown.

         Table 4 shows the movements of the value and volume of total retail sales in terms of the year-on-year rate of change for a month compared with the same month in the preceding year based on the original series, and in terms of the rate of change for a three-month period compared with the preceding three-month period based on the seasonally adjusted series.

         The classification of retail establishments follows the Hong Kong Standard Industrial Classification (HSIC) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.

         These retail sales statistics measure the sales receipts in respect of goods sold by local retail establishments and are primarily intended for gauging the short-term business performance of the local retail sector. Data on retail sales are collected from local retail establishments through the Monthly Survey of Retail Sales (MRS). Local retail establishments with and without physical shops are covered in MRS and their sales, both through conventional shops and online channels, are included in the retail sales statistics.

         The retail sales statistics cover consumer spending on goods but not on services (such as those on housing, catering, medical care and health services, transport and communication, financial services, education and entertainment) which account for over 50% of the overall consumer spending. Moreover, they include spending on goods in Hong Kong by visitors but exclude spending outside Hong Kong by Hong Kong residents. Hence they should not be regarded as indicators for measuring overall consumer spending.

         Users interested in the trend of overall consumer spending should refer to the data series of private consumption expenditure (PCE), which is a major component of the Gross Domestic Product published at quarterly intervals. Compiled from a wide range of data sources, PCE covers consumer spending on both goods (including goods purchased from all channels) and services by Hong Kong residents whether locally or abroad. Please refer to the C&SD publication “Gross Domestic Product by Expenditure Component” for more details.

         More detailed statistics are given in the “Report on Monthly Survey of Retail Sales”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080003&scode=530).

         Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of C&SD (Tel: 3903 7400; email : mrs@censtatd.gov.hk).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Special traffic and transport arrangements for Hong Kong Marathon 2025

    Source: Hong Kong Government special administrative region

    Special traffic and transport arrangements for Hong Kong Marathon 2025
    Special traffic and transport arrangements for Hong Kong Marathon 2025
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         The Transport Department (TD) today (February 3) reminded members of the public that, to facilitate the holding of the Hong Kong Marathon 2025 this Sunday (February 9), temporary road closures will be implemented at various locations in phases from Saturday (February 8) at 11.30pm and will be reopened subject to the progress of the race. It is anticipated all closed roads will be reopened by about 2pm on Sunday.      This year, the full and half marathon races will start at Nathan Road in Tsim Sha Tsui. The full marathon race will route through major road sections including Nathan Road (from Granville Road to Argyle Street), Argyle Street, Lin Cheung Road, West Kowloon Highway, Stonecutters Bridge, Nam Wan Tunnel, Ting Kau Bridge, Cheung Tsing Tunnel, Tsing Kwai Highway, the Western Harbour Crossing (WHC), Connaught Road West flyover, Lung Wo Road, Expo Drive, Hung Hing Road, Lockhart Road, Percival Street, Hennessy Road, Yee Wo Street and Sugar Street, and finish at Victoria Park. The half marathon race route will follow that of the full marathon race from the starting point at Nathan Road to Lin Cheung Road with the turning point at Tsing Kwai Highway and then rejoin the full marathon race route at West Kowloon Highway.      As for other races, the starting point will be set at different locations on Hong Kong Island while all the finishing points will be set at Victoria Park. The 10-kilometre race will start at the Island Eastern Corridor (IEC) near the exit/entrance of Central-Wan Chai Bypass Tunnel (CWBT) and run along the IEC eastwards to the turning point near Oi Tak Street and then return to the finishing point. The 10-kilometre wheelchair race will start at Wan Chai Sports Ground and route through Hung Hing Road, Expo Drive, Lung Wo Road and Central Ferry Piers area and then return to run along Lung Wo Road, Hung Hing Road, Marsh Road, Lockhart Road and Hennessey Road heading for the finishing point. The Wheelchair Trial and Leaders Cup will also start at Wan Chai Sports Ground and route through Hung Hing Road and Marsh Road and then rejoin the 10-km wheelchair race route heading for the finishing point.      According to the arrangements for the full and half marathon race routes, temporary closures of major road sections and their vicinities in Yau Tsim Mong area will be implemented extensively, including (i) the whole section of Nathan Road (in both directions) between Salisbury Road and Gascoigne Road, (ii) the northbound carriageway of Nathan Road between Gascoigne Road and Argyle Street, and (iii) the westbound carriageway of Argyle Street between Nathan Road and Tong Mi Road. The above road sections will be reopened at or before about 10.30am in phases, subject to the progress of the races. At the same time, public transport services in this area will also be subject to extensive adjustments. Members of the public heading to this area are advised to use railway services.      Moreover, since the full marathon will use the Kowloon-bound carriageways of Cheung Tsing Highway, Cheung Tsing Tunnel and Nam Wan Tunnel as the race route, vehicles on Lantau Link (Tsing Ma Bridge) heading to Kowloon will be diverted to use North West Tsing Yi Interchange, Tsing Yi North Coastal Road, Tsing Tsuen Road, Tsuen Wan Road, Kwai Chung Road, Cheung Sha Wan Road and Lai Chi Kok Road. It is anticipated that traffic congestion along North Lantau Highway, Tsing Ma Bridge and the vicinity of North West Tsing Yi Interchange may occur.      The above road closures will not affect vehicles from Hong Kong Island/Kowloon/New Territories East heading for Hong Kong International Airport and Lantau Island. Vehicles from the New Territories West to the airport and Lantau Island could travel via Tuen Mun-Chek Lap Kok Tunnel. Due to the closure of the Kowloon-bound carriageway of Ting Kau Bridge, vehicles travelling via Tuen Mun Road or Tai Lam Tunnel to the airport and Lantau Island will be diverted to use Tsuen Wan Road, Tsuen Tsing Interchange, Tsing Tsuen Road, Tsing Tsuen Bridge and Tsing Yi North Coastal Road to enter Tsing Ma Bridge.      During the races, the Kowloon-bound tube of the WHC will remain opened, while the Hong Kong-bound tube of the WHC will be temporarily closed from 0.45am on Sunday till about 1.15pm, subject to the progress of the races. Motorists in Kowloon West heading for Hong Kong Island are advised to use the Cross-Harbour Tunnel or Eastern Harbour Crossing (EHC). For the race routes in Causeway Bay, Yee Wo Street eastbound will be temporarily closed to serve as a race route. Most of the public transport services operating along Yee Wo Street (in the direction of North Point) will be diverted to use Percival Street, Leighton Road and Pennington Street during the closure period.      According to the arrangements for the 10-km race, both bound carriageways of the IEC between Victoria Park Road and Shau Kei Wan, and the CWBT linking to and from the IEC will be closed from 1.15am on Sunday in phases, and traffic will be diverted via appropriate alternative routes such as Connaught Road Central, Gloucester Road, King’s Road, Shau Kei Wan Road, etc. Traffic to and from the EHC will be diverted to the Sai Wan Ho or Kornhill exit/entrance. Depending on the progress of the races, different sections of the CWBT will be reopened in phases to minimise the impact on traffic. Upon the anticipated reopening of the IEC before noon, the section of the CWBT between Central and North Point will be reopened while the Wan Chai North exit from and entrance to the CWBT will be closed for most of the race time.      In connection with the road closure arrangements, starting from 11.15pm on Saturday until the reopening of the roads, 211 daytime bus routes and 33 daytime green minibus (GMB) routes will be subject to suspension, truncation or diversion, and the stopping points concerned of the affected bus and GMB services will be relocated accordingly in phases. Also, 49 overnight bus routes and six overnight green minibus routes to be affected by the road closures will be subject to the associated service adjustments. These affected bus routes include the cross-harbour routes and bus services operating in the following areas:     Hong Kong Island – bus routes operating along the IEC, the CWBT, in Central and Western District, Wan Chai and Causeway Bay areas;     Kowloon – bus routes operating along Nathan Road, Argyle Street, Shanghai Street, Jordan Road and Yau Tsim Mong areas; and New Territories – bus routes operating along Ting Kau Bridge, Cheung Tsing Highway, Cheung Tsing Tunnel and Nam Wan Tunnel.     The following bus termini and public transport interchanges on Hong Kong Island and in Kowloon will be suspended: Hong Kong Island – Tin Hau Station Public Transport Interchange, Expo Drive East Bus Terminus, Central Ferry Piers Bus Terminus and Whitfield Road Bus Terminus; and      Kowloon – China Ferry Terminal Public Transport Interchange and Star Ferry Bus Terminus.     To enable participants of the full/half marathon and 10-km races that start in the early morning to go to Tsim Sha Tsui or Causeway Bay, the first departures of eight rail lines of MTR services will be advanced suitably on Sunday, with the first departures on the Tuen Ma Line and East Rail Line to be operated at 3.25am. In addition, 28 special bus routes will also be operated to serve participants going to Tsim Sha Tsui and Causeway Bay on Sunday.      During the road closure period, bus stops, taxi stands, taxi pick-up/drop-off points, public light bus/GMB stands, roadside parking spaces and private car parks within the closed roads and their vicinities may be suspended subject to the situation.      The commencement time of the pedestrian precinct on Lockhart Road, East Point Road and Great George Street in Causeway Bay will be postponed to 3pm on Sunday subject to the road reopening situation in the vicinity of Causeway Bay.     Members of the public and tourists heading for Hong Kong-Macau Ferry Terminal, Hong Kong Station and Kowloon Station of the Airport Express Line, Hong Kong West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong Express Rail Link, China Ferry Terminal (China Hong Kong City) or Ocean Terminal are advised to plan their journeys early to avoid any delays caused by road closures and traffic diversions.      The TD anticipates that the traffic at various locations on Hong Kong Island and in Kowloon and the New Territories will be more significantly congested when compared with normal Sundays, including:     Hong Kong Island – King’s Road, Shau Kei Wan Road, Victoria Park Road, Leighton Road, Hennessy Road, Gloucester Road, Queensway, Connaught Road Central, Aberdeen Tunnel (Wan Chai bound) and Central Ferry Piers areas;     Kowloon – Nathan Road and its vicinity, Argyle Street, Wylie Road, Gascoigne Road flyover, West Kowloon Corridor and Cross-Harbour Tunnel (both bounds), with a higher chance of long traffic queues along Gascoigne Road flyover and West Kowloon Corridor; and     New Territories – Lantau Link (Kowloon bound) and North West Tsing Yi Interchange.     Motorists should avoid driving to the above affected areas. In case of traffic congestion, they should exercise patience and drive with care, and follow the instructions of the Police on-site.      Members of the public should plan their journeys early and use alternative routes to avoid unexpected delays, and take railway services as far as possible. Public transport users are advised to pay attention to the arrangements of route diversions and changes of stop locations.      Other ad-hoc traffic and public transport measures, including adjusting the extent of road closures, traffic diversions, alterations and suspensions of public transport services, may be implemented by the Police on-site at short notice depending on the actual traffic and crowd conditions. The TD and the Police will closely monitor the traffic situation and implement appropriate measures whenever necessary. Members of the public are advised to stay alert to the latest traffic news through the media.      For information about the above special traffic and transport adjustments, members of the public may browse the TD’s website at www.td.gov.hk or the “HKeMobility” mobile application.

     
    Ends/Monday, February 3, 2025Issued at HKT 15:45

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Text of the Chairman’s Opening Remarks at Commencement of 267th Session of Rajya Sabha

    Source: Government of India

    Posted On: 03 FEB 2025 12:21PM by PIB Delhi

    Hon’ble Members, the 267th Session of the Rajya Sabha is a milestone in the constitutional journey of Bharat, being the first one convened as we march into the last quarter of the century of adoption of our Constitution on November 26, 1949.

    An occasion of expression of profound gratitude to visionary founding fathers, whose wisdom and foresight endowed us with a Constitution that has remarkably shaped the destiny of our Republic.

    In this journey of 75 years, we have embraced modernity without forsaking our timeless wisdom and heritage. Our collective dreams and aspirations have enabled strides in digital innovation and sustainable development to space exploration and infrastructure.

    Guided by the mantra of Vikas with Virasat, the march forward towards a Viksit Bharat by 2047 must be the north star that anchors our collective efforts. It is incumbent upon us, as members of this august House, to rise to this calling with unwavering resolve.

    As the Council of States—the House of Elders—we must serve as both guardians of constitutional values and torchbearers of progressive thought. Let us emulate our founding fathers, and seize this moment in history to leave our indelible footprints upon the sands of time.

    Our conduct must be exemplary; our deliberations, wise and constructive; and our actions, driven by the welfare of the 1.4 billion citizens who place their faith in us.

    A vibrant and functional Parliament is the lifeblood of democracy. In this sacred chamber, the voices of a pluralistic, dynamic, and aspirational society converge, particularly those of our youth, who represent our nation’s boundless energy and dreams. By empowering youth with education, opportunity, and a sense of responsibility, we can craft a more inclusive and sustainable future.

    The great Mahakumbh, a resplendent celebration of India’s spiritual and cultural essence, offers profound lessons for our journey—unity in diversity, collective well-being, and an abiding commitment to truth, tolerance, and harmony.

    As we engage with the global community, let these principles remain the touchstones of our actions, ensuring that the well-being of every citizen remains at the heart of our endeavours.

    Hon’ble Members, our task is monumental, so has to be our resolve. Let us pledge to uphold the sanctity and dignity of this House. Let our debates and decisions be guided by the noble aspirations of service to the nation. Let us work together, across all divides, to forge policies that elevate Bharat’s standing on the global stage.

    In the words of Dr. B. R. Ambedkar, the architect of our Constitution: “Democracy is not merely a form of government. It is primarily a mode of associated living, of conjoint communicated experience. It is essentially an attitude of respect and reverence towards our fellow men.”

    May we be ever mindful of this wisdom.

    As we embark upon this session, let us deliberate with purpose, cooperate with dignity, and legislate with vision—mindful always that we carry the hopes and dreams of a billion hearts.

     Together, let us chart a course toward a future that fulfills the promise made in the Constitution.

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    (Release ID: 2099044) Visitor Counter : 85

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: TD launches bus safety roving exhibition with first stop at West Kowloon Government Offices (with photos)

    Source: Hong Kong Government special administrative region

    TD launches bus safety roving exhibition with first stop at West Kowloon Government Offices (with photos)
    TD launches bus safety roving exhibition with first stop at West Kowloon Government Offices (with photos)
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         The Transport Department (TD) will hold the “Safe Journey Begins with You and Me” bus safety roving exhibition at nine government buildings from today (February 3) to mid-May to feature the efforts of both the Government and franchised bus operators (FBOs) in improving bus safety and enhancing public awareness on passenger safety. Its first stop is the G/F Lobby, South Tower, West Kowloon Government Offices. Members of the public are most welcome to visit.     The Commissioner for Transport, Ms Angela Lee, said, “Franchised buses carry over 3.7 million passenger journeys per day on average, accounting for about 30 per cent of the total public transport patronage. Safe and convenient bus services are key to the public’s daily commuting. Enhancing the safety of franchised buses is the shared priority of the Government and FBOs. We are committed to improving bus and passenger safety through four major areas, namely bus captains and passengers, technology, safety performance management, and road safety, with a view to preventing accidents.”     The rich content of the exhibition panels and educational videos covers bus captains’ daily work to uphold passenger safety, passenger safety tips, Safety Performance Indicators drawn up by the TD to assess FBO’s performance, FBOs’ extensive application of technology to enhance bus safety as well as an array of road safety and bus-friendly measures implemented by the Government. Visitors can participate in quiz games on site and receive souvenirs.     The bus safety roving exhibition will be open from 9am to 7pm. Admission is free. Details are as follows: 

    Date
    Venue

    February 3 to 8
    G/F Lobby, South Tower, West Kowloon Government Offices

    February 10 to 15
    2/F, Harbour Building

    February 17 to 22
    G/F Lobby, Revenue Tower

    February 24 to March 1
    1/F, Trade and Industry Tower

    March 3 to 8
    G/F Lobby, North Point Government Offices

    March 10 to 15
    G/F Lobby, Cheung Sha Wan Government Offices

    April 14 to 18
    2/F, Tsuen Wan Government Offices

    April 28 to May 3
    G/F Lobby, Tung Chung Municipal Services Building

    May 12 to 16
    G/F Lobby, Tuen Mun Government Offices

         To engage with the community to promote bus safety, the TD has held interactive sharing sessions and game activities at primary schools and District Elderly Community Centres in various districts since late 2024, aiming to raise the awareness of students and the elderly on bus and pedestrian safety. Publicity has also been regularly rolled out via the Agent T Facebook page (www.facebook.com/AgentT.hk) in the past month. This exhibition is part of the TD’s series of bus safety promotion measures.

     
    Ends/Monday, February 3, 2025Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Kumbh Mela Reflects India’s Inclusivity and World-Class Management, States VP

    Source: Government of India (2)

    Kumbh Mela Reflects India’s Inclusivity and World-Class Management, States VP

    India’s Aspirational Population Is No Less Than Nuclear Power, Emphasizes VP

    Budget Booster for Taxpaying Populace Has Generated Radiance All Around, Highlights VP

    Achieving Developed Nation Status Requires Eightfold Per Capita Income Rise, Asserts VP

    Chartered Accountants Must Nurture the Spirit of Economic Nationalism, says VP

    Vice-President Addresses 75th Annual Function of ICAI at World Forum of Accountants at New Delhi

    Posted On: 02 FEB 2025 9:32PM by PIB Delhi

    The Vice-President of India, Shri Jagdeep Dhankhar, today said, “There has been a budget booster and for me, there has been a Kumbh booster. The two are coupled.” He explained that the budget booster, particularly for the taxpaying populace, has generated radiance all around. Reflecting on his visit to the Kumbh Mela—an event of unparalleled consequence for humanity—he noted, “When I took the holy dip in an event that celestially occurs after 144 years, the population beyond America had already visited the place. Excellent Management!”

    Drawing a unique parallel, He further elaborated that world-level arrangements were evident at the Kumbh. “How in such a small area, such a large human congregation has been taken care of, reflects India’s inclusivity and peace within us,” he said. While acknowledging a mishap during the event, Shri Dhankhar praised the management’s swift and effective response: “The management thereof, the response was electric, nuclear. It was done in a moment.” He commended the health facilities, law and order arrangements, and the availability of helping hands, concluding, “I, therefore, as an Indian, take pride that we as a nation have come of age where such a large human gathering, infatuated by commitment to religiosity, sublimity, spirituality, and our civilizational ethos, has come together and peacefully handled situations. I salute everyone associated with such exemplary management.”

    Addressing the gathering at the 75th Annual Function of the Institute of Chartered Accountants of India (ICAI) at the World Forum of Accountants held at Yashobhoomi, New Delhi, the Vice-President observed that the people of India have now entered an aspirational mode. “This aspirational mode is premised on the fact that in the last decade, no nation has progressed as much on the development aspect as Bharat,” he stated. He pointed out that when people witness development, they naturally desire more, and this has converted one-sixth of humanity into the most aspirational population. “Therefore, this descending, demanding population is an asset. But it is also a challenge. If it is restive, it is a ticking time bomb. And if energy is channelised, it is no less than nuclear power,” he emphasized.

    He further highlighted that India has had an unparalleled and remarkable economic rise and upsurge, alongside significant infrastructure development, technology penetration, and deep digitization in the last few years. Amongst large economies, its growth stands out. He emphasized that an environment of hope and possibility is all-pervasive.

    Expressing his confidence in the role of professional bodies, Shri Dhankhar stated, “I strongly feel bodies like yours have the capacity to convert the youth dividend into nuclear power and keep it away from restive temperament.”

    Shifting focus to economic concerns, the Vice-President shared his apprehensions: “I am deeply concerned when I notice that when balance sheets shine, premised on avoidable imports, and finances blossom on raw material exports, the national economy bleeds as there is an avoidable drain of foreign exchange, loss of employment, and impeding of entrepreneurial growth.” He emphasized that this was a challenge that only the chartered accountants could address. “There is a need to imbibe the spirit of economic nationalism. As a distinguished class, chartered accountants are imminently positioned and suited to propagate and nurture this spirit of nationalism. Such an approach will be highly beneficial to the economy and save us billions in foreign exchange—billions of dollars—while creating millions of jobs and accounting for the growth of entrepreneurship,” he asserted.

    Recognizing the pivotal role of chartered accountants, Shri Dhankhar remarked, “As the architects of economic stability, watchdogs of financial integrity, and guardians of fiscal discipline, you are particularly enjoined to contribute optimally to the nation’s march towards unprecedented growth and prosperity.” He highlighted that in contemporary times, influencers from various walks of life matter significantly, but as a professional class, chartered accountants are the most potent influencers for transformative change in the economy.

    “There is no other class other than chartered accountants who can bring about revolutionary positive change in business ethics and business promotion,” he added. He further noted, “Your unique position at the intersection of business, finance, and governance enables you to bring about and catalyse reforms from the grassroots to the highest corporate achievements. You have the potential to be the nerve centre for big changes that will contribute to our economy.”

    Concluding his address, the Vice-President emphasized the challenge and importance of achieving developed nation status. “A challenge to be a developed nation has to be understood at your level,” he stated. He explained that while a developed nation status is not explicitly defined, certain global parameters can be identified. “In my modest understanding of economics, our per capita income has to rise eightfold. A daunting challenge, but achievable,” Shri Dhankhar affirmed.

    CA. N.D. Gupta, MP, Rajya Sabha, Shri P.C. Mody, Secretary-General, Rajya Sabha, CA. Ranjeet Kumar Agarwal, President, ICAI, CA. Abhinav Aggarwal, Chairman, NIRC and other dignitaries were also present on the occasion.

    ****

    JK/RC/SM

    (Release ID: 2099020) Visitor Counter : 15

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Trump presidency quickly impacting several areas of healthcare, says GlobalData

    Source: GlobalData

    Trump presidency quickly impacting several areas of healthcare, says GlobalData

    Posted in Medical Devices

    US President Donald Trump has recently enacted several significant changes to the country’s healthcare policy, focusing on withdrawing from the World Health Organization (WHO), implementing anti-abortion measures, and initiating a freeze on federal grant funding. These actions have far-reaching implications for various aspects of the healthcare system, including Medicaid, according to GlobalData, a leading data and analytics company.

    On January 20, 2025, Trump signed an executive order, directing the US to withdraw from the WHO. This decision marks the second attempt by the US to exit the WHO, following a similar move in 2020 that was later reversed by the subsequent administration.

    The executive order criticizes the WHO’s handling of the COVID-19 pandemic and alleges political interference by member states. It mandates the cessation of US funding and support to the WHO, the recall of US government personnel working with the organization, and a review of alternative partners for global health initiatives. The withdrawal has prompted concerns from global health experts about potential disruptions in international health collaboration and the management of global health crises.

    Alexandra Murdoch, Senior Medical Analyst at GlobalData, comments: “The US exit from the WHO is perplexing, and will not only leave a gap in WHO funding and health leadership, but will impact Americans health and safety too. The WHO funds a number of programs to treat and prevent many diseases in many countries, including the US.”

    Exiting the WHO is not the only change to healthcare President Trump has made since his inauguration. On January 24, he issued an executive order titled “Enforcing the Hyde Amendment,” which reinforces the prohibition of federal funding for elective abortions. This order revokes previous directives from the Biden administration that had expanded access to reproductive healthcare services, including abortion.

    By reinstating the Hyde Amendment’s restrictions, the order directs federal agencies to ensure compliance, effectively reducing federal support for abortion services. This move has significant implications for Medicaid, as it limits the use of federal funds for abortion services, potentially affecting low-income individuals who rely on Medicaid for healthcare coverage.

    As a result of policies like this, many states could see an increased demand for contraceptive devices to reduce the likelihood of unwanted pregnancies. According to GlobalData, the volume of reversible contraceptive devices is expected to increase at a 2.53% CAGR in the US from 2023-33. Reversible contraceptive devices in this case refer to diaphragms, hormonal implants, and intrauterine devices (IUDs).

    Murdoch continues: “Similarly, the Office of Management and Budget (OMB) issued a memorandum ordering a freeze on federal grants and financial assistance programs. This freeze has created uncertainty among organizations that depend on federal funding, including those providing healthcare services through Medicaid.”

    A federal judge in the District of Columbia has temporarily blocked the order to freeze funding, but the order had already disrupted Medicaid for many. Medicaid reimbursement portals were down across the country, and if the freeze is reinstated, it could lead to reduced resources for programs that support low-income populations, potentially compromising the quality and availability of care provided through Medicaid.

    Murdoch concludes: “President Trump’s recent actions represent a significant shift in US healthcare policy, emphasizing a departure from international health collaboration, reinforcing anti-abortion measures, and reevaluating funding priorities. These changes are likely to have substantial effects on healthcare in the US.”

    MIL OSI Economics –

  • MIL-OSI Russia: Polytechnic University’s AI Seminars Are Trending on the Information Agenda

    Translartion. Region: Russians Fedetion –

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

    Another seminar on artificial intelligence was held at the Saint Petersburg Polytechnic University.

    Opening the meeting, SPbPU Vice-Rector for Research Yuri Fomin reminded the participants of the resonance in the global community caused by the neural network of the Chinese company DeepSeek.

    This reaction to artificial intelligence technologies once again confirms that they are trending today. And this adds new colors to our seminars, which we organized to talk about the research that is being conducted in our laboratories as popularly as possible. Because we, of course, will be active participants and authors of new technological solutions, – noted Yuri Vladimirovich.

    The fourth Polytechnic University seminar on AI attracted the attention of not only the university audience, but also external participants — representatives of the university’s industrial partners. The report of the Vice-Rector for Digital Transformation, Head of the Advanced Engineering School of SPbPU “Digital Engineering” Alexey Borovkov and Senior Researcher of the Engineering Center “Computer Engineering Center” of the SPbPU PISh Alexey Novokshenov on the topic “Artificial Intelligence in Industry on the CML-Bench® Digital Platform. Experience of Applying AI/ML in High-Tech Industry Tasks” was listened to with great interest. The scientists spoke about the digital platform for the development and application of CML-Bench® digital twins and the successful implementation of projects in the interests of the high-tech industry.

    According to Alexey Borovkov, the digital twin market is one of the fastest growing, and today it is being integrated by the largest market for artificial intelligence technologies. In addition, he noted that the CML-Bench® digital platform received a certificate of compliance with the software security requirements of the Federal Service for Technical and Export Control (FSTEC of Russia) at the sixth level of trust at the end of 2024.

    Today, our country faces an important task – achieving technological leadership, and domestic technologies, especially advanced digital and production technologies, play an important role here. Also, we should not forget about digital standardization. In 2022, the National Standard “Computer Models and Simulation. DIGITAL DOUBLES OF PRODUCTS. General Provisions” came into effect, which was developed by specialists of the NTI Center “New Production Technologies” of SPbPU together with specialists of the Federal State Unitary Enterprise “RFNC-VNIIEF” and with the participation of 25 more high-tech organizations and industry institutes. And whoever creates the standards dictates the rules, – Alexey Ivanovich emphasized and then spoke in detail about some developments using digital engineering for the fuel and energy complex and the aviation industry.

    During the discussion of the report, the seminar participants also identified a number of problems: lack of funds for testing; difficulties in introducing new developments into production; insufficient preparation of applicants entering engineering specialties.

    Alexey Gintsyak, head of the Digital Modeling of Industrial Systems laboratory of the Advanced Engineering School Digital Engineering, spoke about the study of approaches to creating intelligent multi-agent systems for predictive and prescriptive analytics in industry. The laboratory is part of the Scientific and Educational Center and the Association Artificial Intelligence in Industry and conducts a range of studies on forecasting and optimizing the activities of industrial enterprises. The report presented the results of fundamental projects carried out within the framework of a state assignment and with the support of the Russian Science Foundation, as well as the results of applied projects in various industries and economics: mechanical engineering, metallurgy, transport, and the oil and gas industry. In conclusion, the head of the laboratory shared plans for the further development of current research areas.

    Summing up the results of the seminar, Vice-Rector for Research Yuri Fomin suggested inviting speakers from other scientific organizations and universities to the seminars, and also announced the next meeting, which will be held on February 12 in the Kapitsa Hall of the Technopolis Polytech Research Building at 2 p.m.

    Photo archive

    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: Virtune AB (Publ) (“Virtune”) has completed the monthly rebalancing for January 2025 of its Virtune Crypto Altcoin Index ETP

    Source: GlobeNewswire (MIL-OSI)

    Stockholm, 3rd of February 2025 – Today Virtune announces that it has finalized its monthly rebalancing for Virtune Crypto Altcoin Index ETP, listed on Nasdaq Stockholm and Nasdaq Helsinki (ISIN code SE0023260716).

    In addition to the Virtune Crypto Altcoin Index ETP, Virtune’s product portfolio includes:

    Virtune Bitcoin ETP
    Virtune Staked Ethereum ETP
    Virtune Staked Solana
    Virtune Staked Polkadot ETP
    Virtune XRP ETP
    Virtune Avalanche ETP
    Virtune Chainlink ETP
    Virtune Arbitrum ETP
    Virtune Polygon ETP 
    Virtune Staked Cardano ETP
    Virtune Crypto Top 10 Index ETP

    Index allocation as of 31st of January (before rebalancing):

    XRP: 17.99%
    Litecoin: 15.47%
    Solana: 14.94%
    Chainlink: 14.81%
    Cardano: 13.65%
    Avalanche: 11.85%
    Uniswap: 11.28%

    Index allocation as of 31st of January (after rebalancing):

    XRP: 14.29%
    Litecoin: 14.29%
    Solana: 14.29%
    Chainlink: 14.29%
    Cardano: 14.29%
    Avalanche: 14.29%
    Uniswap: 14.29%

    In connection with this month’s rebalancing, there is no change in the crypto assets included in the index. Virtune Crypto Altcoin Index ETP outcome for January was: +8.75%.

    The rebalancing is carried out according to the index that the ETP tracks, the Virtune Vinter Crypto Altcoin Index. The purpose of the monthly rebalancing is to reset the weights of each crypto asset to provide equal-weighted exposure to altcoins.

    In January, the market showed a mixed performance across major assets. XRP led the way with a significant growth of 46% throughout the month, while other major altcoins also performed strongly, such as Chainlink with a 25.30% increase and Solana with a 22.30% rise. However, the weakest performance came from Uniswap, which saw a decline of 11.10% in January.

    The performance of the crypto assets included in Virtune Crypto Altcoin Index ETP in January:

    XRP: +46%
    Chainlink: +25.30%
    Litecoin +24.30%
    Solana: +22.30%
    Cardano: +11.60%
    Avalanche: -3.72%
    Uniswap -11.10%

    Virtune Crypto Altcoin Index ETP is the first of its kind in the Nordic region. It includes up to 10 leading alternative crypto assets (altcoins), excluding Bitcoin and Ethereum, that are part of the Nasdaq Crypto Index. Each altcoin is equally weighted to promote diversification; this structure allows investors to gain broad exposure to crypto assets beyond Bitcoin and Ethereum without being heavily concentrated in any single crypto asset.

    If you, as an (institutional) investor, are interested in meeting with Virtune to discuss the opportunities our ETPs offer for your asset management services or to learn more about Virtune and our ETPs, please do not hesitate to contact us at hello@virtune.com. You can also read more about Virtune and our ETPs at www.virtune.com and register your email address on our website to subscribe to our newsletters, which cover updates on Virtune’s upcoming ETP launches and other news related to digital assets.

    Press contact

    Christopher Kock, CEO Virtune AB (Publ)
    Christopher@virtune.com
    +46 70 073 45 64

    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges. With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market. 

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. 

    The MIL Network –

  • MIL-OSI NGOs: Sudan malnutrition crisis: MSF renews call for immediate action to prevent death and starvation

    Source: Médecins Sans Frontières –

    • International donors, the UN, Sudan’s warring parties and their allies must do everything in their power to prevent more death from malnutrition in Sudan.
    • MSF has shared staggering data from malnutrition screenings in areas across Sudan, and the situation is expected to worsen during the upcoming rainy season.
    • It is possible to avoid further catastrophe if action is taken now.

    International donors, the UN, Sudan’s warring parties and their allies must act now to prevent even more avoidable deaths from malnutrition in Sudan, as the already catastrophic situation is expected to worsen this year, according to Médecins Sans Frontières (MSF).

    Half of Sudan’s population faces high levels of acute food insecurity (24.6 million people), among whom 8.5 million people face an emergency or famine-like situation according to the latest Integrated Food Security Phase Classification (IPC) report.

    “Despite this new wake-up call, robust humanitarian and diplomatic mobilisation to act on aid deliveries has fallen far short of the needs. To provide only those in the most extreme situation with monthly food rations, 2,500 aid trucks per month would be required, whereas only about 1,150 crossed into Darfur between August and December,” says Stephane Doyon, MSF operations manager.

    MSF has released data showing horrific rates of malnutrition in multiple locations, both at the height of Sudan’s lean season last year and as recently as December 2024. The conflict-driven malnutrition crisis has been exacerbated by the continued obstruction of aid by both of Sudan’s warring parties and by the neglectful inertia of the UN and aid system in Darfur. With the seasonal hunger gap coming in May, decisive action must be taken now.

    “Parts of Sudan are difficult to work in. But it is certainly possible, and this is what humanitarian organisations and the UN are supposed to do,” says Marcella Kraay, MSF emergency coordinator, speaking from Nyala, South Darfur state.

    “In places that are easier to access, as well as in the hardest to reach areas like North Darfur, options like air routes remain unexplored. The failure to act is a choice, and it’s killing people,”  says Kraay.

    The malnutrition crisis has been acknowledged for some time, with the UN in October warning that “never in history have so many people faced starvation and famine as in Sudan today.”

    Moving supplies will become an even more difficult task during the upcoming rainy and lean season, when flooded dirt roads become impossible to navigate. A wide-scale humanitarian response must be launched now, including by drastically increasing available funding and logistical capacities, securing food pipelines and prepositioning food stocks in Chad and neighbouring countries.

    MSF is calling for UN agencies, international organisations, donor countries, and governments with leverage to pursue all options, including air routes, to complement and even replace road access where necessary.

    Halima and her two month old baby see a doctor at the Kalma camp health centre, run by MSF. Sudan, December 2024.
    Abdoalsalam Abdallah

    Bureaucratic requirements from the warring parties have long been an obstacle to international organisations’ ability to reach and provide services to people. Rather than reacting to critical needs in a timely manner, permissions to respond are either delayed or denied altogether by the warring parties. This is impeding MSF ‘s work in South Darfur with aid trucks stuck in Chad waiting for permissions to move from the Rapid Support Forces (RSF) and their offices. A food distribution in South Darfur was also recently postponed as MSF was refused the necessary travel permits.

    Warring parties must grant unhindered access for humanitarian organisations. Access must be defined by lifesaving aid reaching people who need it, not by announcements celebrating piecemeal measures that fall far short. MSF calls for the warring parties, their allies, and influential states to use their leverage to ease the obstacles that are causing deaths and suffering.  
    MSF has provided data from different locations to demonstrate the depth of the malnutrition crisis. In North Darfur, where an RSF siege on its capital El Fasher is starving people and depriving them from lifesaving assistance, MSF teams screened over 9,500 children under five years old while conducting a therapeutic food distribution in Tawila locality in December 2024. They found a staggering global acute malnutrition estimate of 35.5 %, with 7% of the screened children suffering from severe acute malnutrition.

    Last September, 34% of the 29,300 children screened by MSF during a vaccination campaign in Zamzam camp were found to be suffering from acute malnutrition. Since the beginning of December, repeated shelling has made it impossible for our team to carry out further assessments in the camp and has most likely exacerbated the levels of malnutrition.

    Zahra Abdullah, living in Al Salam camp outside Nyala city This is not the first war I have experienced, but it is definitely the most devastating to my life. The living conditions here are harsh, and everything is a daily struggle.

    Zahra Abdullah, 25 years old, inside her kitchen after receiving their food basket. Sudan, January 2025.
    © Abdoalsalam Abdallah

    MSF teams also see concerning rates of malnutrition outside of Darfur, in areas where displaced people have sought shelter, or in areas closer to the conflict. In Omdurman, Khartoum state, a conflict zone under control of the Sudanese Armed Forces, MSF carried out a nutritional screening while assisting with a vaccination campaign for children in October 2024, finding 7.1% of children screened were severely acutely malnourished.

    MSF data also reveals that malnutrition is not only an issue for people close to frontlines, but also in more stable cities like Nyala, the capital of South Darfur. In October 2024, 23% of children under five screened at MSF-supported facilities in Nyala, South Darfur’s capital, and nearby locations were suffering from severe acute malnutrition. In two MSF-supported facilities, 26% of the pregnant and breastfeeding women seeking care were acutely malnourished. With WFP food distributions lacking, MSF launched a targeted food distribution in South Darfur in December 2024, providing two months’ food to about 30,000 people.

    Zahra Abdullah, 25 years old, received food for her and her son, they live together in the Al Salam displacement camp outside of Nyala city.

    “This is not the first war I have experienced, but it is definitely the most devastating to my life. The living conditions here are harsh, and everything is a daily struggle. The aid we receive has somewhat improved our situation. At least now, we finally have a meal in the morning,” says Zahra.

    “But even so, the suffering never ends. It starts with finding clean water to drink, continues with trying to provide enough food, and ends with finding a place to sleep. Sometimes I sit alone and think: is this the life I will live forever?” she says.

    For millions of people like Zahra, the time is now to act to prevent the situation from becoming ever more dire. MSF will continue to do what it can, but the scale is well beyond the organisation’s capacity to respond. We need to see a massive response now to prevent more death and starvation; timeliness is a matter of survival, not political expediency.

    MIL OSI NGO –

  • MIL-OSI Europe: AFRICA/DJIBOUTI – Sister Anna on her work in the mission in Djibouti

    Source: Agenzia Fides – MIL OSI

    Ali Sabieh (Agenzia Fides) – “I like to see how the Lord works in people; it is He who called me to be a missionary, in the mission among non-Christians, and I am here to give hope,” says Consolata Missionary Sister Anna Bacchion, born in 1944, who works in Djibouti in a mission opened by her congregation in 2004.Sister Anna has been involved in the mission in Djibouti since its foundation. On the eve of the World Day of Consecrated Life (which will be celebrated on Sunday 2 February), the nun tells Fides about the richness of a life among non-Christians.”There is a sentence from the Gospel of John that has always impressed me: ‘For God so loved the world that he gave his only Son, so that everyone who believes in him might not perish but might have eternal life (John 3:16-17)’”, explains the nun, who works primarily in schools and in helping the disabled. “This means,” adds Sister Anna, “that God loves all people, Muslims, Jews, every ethnicity and religion… To love everyone, everywhere. We missionaries are called to ‘infect’ with our testimony. We do not speak of Jesus, but Jesus is in their midst.” Sister Anna Bacchion joined the Consolata Missionary Sisters in 1969 and came to Libya in 1976, where she worked with severely disabled children for seven years. She returned to Italy to serve her congregation for a while until she returned to Djibouti in 2004, a country on the border between Ethiopia and Somalia with a Muslim majority.“In my two experiences, first in Libya and then in Djibouti,” says Sister Anna Bacchion, “I always saw the seed of Jesus among the people I met. In Libya, I met mothers who worked in schools and who, despite their many children and their precarious economic situation, opened the doors of their homes during school holidays to other children who attended school but lived far away from their families. In Djibouti, I saw the generosity and open hearts of the local people, and I still remember how the Prefect of Djibouti took to heart a mother and a little girl with a genetic disease that had the same consequences as leprosy, whom I had brought to him to ask him to take care of them.”The “Read, write, count” (LEC) program educates children without papers or children who, for various reasons, have not been able to attend school, while the “École pour tous” school project opens its doors to disabled children who were previously placed in institutions. Sister Anna has seen these two educational initiatives grow and flourish. “It is fundamental that the child has the awareness that he can do great things. For these children, we have always tried to do our best. Thanks to the Church’s commitment in this area, this type of project has now also been extended to the state level,” she reports.Today, five Consolata missionaries work in Djibouti. Three of them, including Sister Anna, are in Ali Sabieh, about 100 km from the capital, where the mission was originally founded. “The place He sends me to is my family,” summarizes Sister Anna. “The disabled children I have been caring for since the first mission in Libya are my children. Their suffering is my suffering, their joy is my joy.” (EG) (Agenzia Fides, 1/2/2025)
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    MIL OSI Europe News –

  • MIL-OSI Europe: ASIA/LAOS – Farewell to Father Titus Banchong: “It was Jesus who was interested in me, not me in him”

    Source: Agenzia Fides – MIL OSI

    by Paolo AffatatoVientiane (Agenzia Fides) – “I am ready for Jesus and will be his martyr if I am worthy and if he wants me. I now believe that the time is very close,” wrote the Laotian priest Titus Banchong Thopanhong, shortly before he was arrested by the security forces of the “Pathet Lao” in 1976.Titus Banchong Thopanhong, Apostolic Administrator of Luang Prabang from 1999 to 2019, died in Vientiane on January 25 at the age of 78. He succumbed to a long illness, also due to the hardships he had suffered for 50 years. Father Titus was a member of the Congregation of the Oblates of Mary Immaculate (OMI) and was imprisoned for seven years. During his entire imprisonment, nothing was heard from him. Many thought he had been killed. Instead, he was released and was able to resume his life as a simple pastor for the small Catholic community in Laos, which today numbers about 60,000 Catholics.Titus is the name given to Banchong Topagnong at the age of 8 when he was baptized with his family in the Hmong village of Kiukiatan in northern Laos, where he was born in 1947. In this village, from 1957 to 1958, he was one of the altar boys of Father Mario Borzaga, the missionary who was to be beatified in 2016. “Titus still retains a precious memory of this priest who profoundly marked his life,” recalls his confrere Fabio Ciardi, who had a deep human and spiritual friendship with Father Titus. With the missionaries, young Titus had the opportunity to deepen his journey of faith: during these years, between 1958 and 1969, he attended Seminaries first in Vientiane and then in Luang Prabang. Father Angelo Pelis, also an OMI missionary who was then director of the Seminary in Luang Prabang, remembers him as a “simple, reserved, gentle and smiling boy”. “The character trait that was to mark him throughout his life was humility: a humility modeled on Jesus Christ,” says Father Pelis. Young Titus decided to continue his formation with the Oblates in Italy and in 1970 Monsignor Alessandro Staccioli (OMI), then Apostolic Vicar of Luang Prabang, sent him to study in Italy, where he studied philosophy and theology first in San Giorgio Canavese and then, from 1973, in Vermicino (near Rome).Father Titus writes in one of the letters collected in the book “Even in prison I can love”, edited by Michele Zanzucchi: “I was still uncertain about my vocation, but little by little I felt in my heart the desire to follow Jesus in a radical way, that is, to follow the Lord who seemed to want me to love him. It was he who was interested in me, not I in him. He had taken me little by little and made me understand that in him I would always find the true meaning of my life.” While he was in Italy, his country experienced a change of regime, with the communist resistance fighters of the “Pathet Lao” taking power and in 1975 all missionaries were expelled from the country.Father Titus felt a strong desire to return to his homeland and to be a priest for the people of Laos, a desire to be a witness for Christ there and not elsewhere. This is what drives Father Titus to return to Laos. “I have chosen the Church of Laos and I feel that God wants me there and not anywhere else,” he writes. “Even if I am a priest for just one day, I will return to Laos.” And he continues: “I have decided to return to Laos because there is no one there for the apostolate. I am returning so that we can all be stronger, I am returning to help the faithful. When I returned, I chose God alone; it is He who makes me return and that is why I am returning.” He was ordained a priest in the Cathedral of Vientiane on 28 September 1975 by the then Bishop of Vientiane, Thomas Nantha, the first of the Hmong ethnic group. The next day he wrote: “I am no longer afraid because I belong to the Lord. I am ready for anything. I am very happy. No one can separate me from Him. Every day I discover more and more that He is with me. I have Him… He asks me for everything, I give Him everything.”He began a strictly controlled pastoral ministry, with the threat of arrest, first in Luang Prabang, then in Vientiane, and finally in Paksane. He travels through the villages on his motorbike, visits people and administers the sacraments to Catholic families. Although he never used critical words against those in power, Father Titus was imprisoned three times and “learned to find even in the cruelest hardships the tenderness of God’s love”, Pelis recalls his imprisonment: “You could say that the other prisoners in prison were all converted, they became good. With love you can also break the bonds of hatred.” After his release from prison he did not complain: “I was released,” he writes. “After they released me, I was able to visit all the Christians in the province of Siam and I found them. Many who had been there for over 30 years no longer had priests,” he said.After being appointed “Apostolic Administrator” of Luang Prabang, the old capital, he lived the life of a missionary, dedicating himself with zeal and charity to serving his people. In 2005, with joy and enthusiasm, he told Fides that in the Vicariate of Luang Prabang he had received permission to open the first Catholic church in northern Laos since the painful times of 1975, after the communist revolution. And he said he was “very edified by the faith and devotion of the local families”. In his pastoral work he went “step by step, we go as far as the Lord allows us”. This hope was realized when he saw the first new vocations to the priesthood blossom in the small Laotian community and when he participated in the beatification liturgy in 2016 of 17 Laotian missionaries and lay people killed by communist resistance fighters between 1954 and 1970. Among the six Oblates of Mary Immaculate (OMI) beatified was the young Italian missionary Mario Borzaga, who died in 1960 at the age of 27 along with the local catechist Paul Thoj Xyooj. Titus had taken them close to his heart. (Agenzia Fides, 1/2/2025)
    Share:

    MIL OSI Europe News –

  • MIL-OSI: BAWAG Group: Acquisition of Barclays Consumer Bank Europe successfully completed

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Austria – February 3, 2025 – Following the receipt of regulatory approvals as announced on 9th of January, BAWAG Group today announces the successful acquisition of the Hamburg-based Barclays Consumer Bank Europe from Barclays Bank Ireland PLC. BAWAG Group will work with the current leadership team to continue growing its Retail business in Germany and the broader DACH/NL region.

    During a transitional period, the business will continue to operate under the Barclays brand, with rebranding expected to be unveiled in 2026. At present, there are no changes for customers: both the products and their associated terms and conditions remain unaffected following the completion of the transaction.

    BAWAG Group will report FY 2024 results on March 4, 2025 and will host an Investor Day on the same day.

    About Barclays Consumer Bank Europe

    Barclays Consumer Bank Europe has been operating successfully in Germany for more than 30 years and is one of the leading providers of credit cards with a genuine credit function. The company’s other business areas include consumer loans, installment purchase financing via the online retailer Amazon and overnight money accounts. Further information can be found at www.barclays.de.

    About BAWAG Group

    BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.5 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Western Europe, and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need. BAWAG Group’s Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.

    Forward looking statement

    This release contains “forward-looking statements” regarding the financial condition, results of operations, business plans and future performance of BAWAG Group. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could” and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect management’s expectations as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements as actual results may differ materially from the results predicted. Neither BAWAG Group nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this report or its content or otherwise arising in connection with this document. This report does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This statement is included for the express purpose of invoking “safe harbor provisions”.

    Contact:

    Financial Community:
    Jutta Wimmer (Head of Investor Relations)
    Tel: +43 (0) 5 99 05-22474

    IR Hotline: +43 (0) 5 99 05-34444
    E-mail: investor.relations@bawaggroup.com

    Media:
    Manfred Rapolter (Head of Corporate Communications and Social Engagement)
    Tel: +43 (0) 5 99 05-31210
    E-mail: communications@bawaggroup.com

    This text can also be downloaded from our website: https://www.bawaggroup.com

    The MIL Network –

  • MIL-OSI: The Ecole normale supérieure, AI & Society Institute and Capgemini launch a global Observatory on AI’s environmental impact

    Source: GlobeNewswire (MIL-OSI)

    ENS Press Contact: 
    Lola Melkonian
    lola@buzzdistrict.com / +33 6 09 38 67 84
    Romain Pigenel romain.pigenel@ens.psl.eu

    Capgemini Press Contact:
    Victoire Grux
    Tel.: + 33 6 04 52 16 55
    E-mail: victoire.grux@capgemini.com

    The Ecole normale supérieure, AI & Society Institute and Capgemini launch
    a global Observatory on AI’s environmental impact

    Paris, February 3, 2025 – With the support of Capgemini, the AI and Society Institute, the Ecole normale supérieure (ENS-PLS) and the ENS Foundation have launched an Observatory dedicated to analyzing and mitigating the environmental impacts of Artificial Intelligence (AI) at all stages of its lifecycle (training, adjustment, inference and end-of-life). The new Observatory aims to establish a solid, shared methodology to encourage sustainable AI usage.

    The widespread adoption of AI, especially generative AI, has unlocked significant opportunities across various sectors. However, the growing computational demand for these new uses is leading to an increase of its environmental footprint (in terms of energy and water consumption, as well as carbon footprint), making it necessary to systematically assess their impact and implement measures to mitigate them. A recent research paper from a Capgemini R&D team highlights that large generative AI models consume 4,600 times more energy than traditional models, with AI-related electricity usage potentially increasing 24.4 times in the most extreme scenario by 2030. Mitigating this environmental impact in the coming years will require a coordinated effort from all stakeholders across the AI value chain, cites the publication.1  

    The global Observatory on AI’s environmental impact intends to address these challenges. It will bring together a diverse, multi-stakeholder community of international experts (academia, businesses and civil society), and will help to:

    • Establish a robust, shared methodology for measuring the environmental impact of AI technologies;
    • Create a global, open-access database where AI developers and researchers can contribute with data on the environmental performance of their models, fostering transparency and collaboration between businesses and research circles;
    • Promote sustainable AI practices;
    • Provide strategic analysis and disseminate knowledge;  
    • Bring together key stakeholders.

    “At the ENS-PLS, we firmly believe that research and action must go hand in hand to drive positive change in our societies,” explains Anne Bouverot, Chairwoman of the ENS-PLS Board of Directors.

    “This Observatory is the bridge between the two and is part of our commitment to provide informed solutions to public and private institutions on artificial intelligence and its impact,” adds Marc Mézard, Chairman of the AI and Society Institute.

    “Today, companies are looking for efficiency gains, yet very large AI models not only entail a significant environmental footprint, but also higher costs,” says Etienne Grass, Managing Director of Capgemini Invent France. “To harness the power of this technology responsibly, it is essential to put in place clear and transparent methodologies, and to work with all players in the AI value chain.”

    Capgemini has previously produced several research reports on the implementation of sustainable AI, including a survey of 2,000 senior executives from major companies in 15 countries2 and a research paper that proposes an initial methodology for quickly estimating the environmental impact of a company’s AI-related business portfolio.

    About Ecole normale supérieure
    At the same time a French grande école and a university, the Ecole normale supérieure provides in Paris, at the heart of the Quartier latin, excellent training through research, leading to various teaching and research professions, and contributes to train through research the senior executives of public administrations as well as of French and European companies. The ENS also defines and applies scientific and technological research policies, from a multidisciplinary and international perspective.

    https://www.ens.psl.eu/en

    About the IA & Société Institute
    The Institute for AI and Society, hosted by the École normale supérieure, was co-founded by Université Paris Dauphine, PSL, and the Abeona Foundation. Its mission is to promote the responsible development and use of AI by studying its interactions with society.

    Find out more

    About the ENS Foundation
    Founded in 1986 and recognized as a public-interest organization, the Fondation de l’École normale supérieure is dedicated to supporting teaching and research initiatives while expanding the ENS’s outreach by engaging the generosity of donors and corporate partners.

    Find out more

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fuelled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.

    Get the Future You Want | www.capgemini.com

    1 “Exploring the sustainable scaling of AI dilemma: A projective study of corporations’ AI environmental impacts”, C. DESROCHES, M. CHAUVIN, L. LADAN, C. VATEAU, S. GOSSET, P. CORDIER, January 2025
    2 Developing sustainable Gen AI report, Capgemini Research Institute, January 2025

    Attachment

    The MIL Network –

  • MIL-OSI Economics: The turnover from card payments continued to increase in 2024

    Source: Danmarks Nationalbank

    Of the total card turnover in Denmark in 2024, the vast majority, kr. 616 billion, came from transactions made by Danes, while the remaining kr. 45 billion came from transactions made by foreigners. In comparison, Danes reached a card turnover of kr. 158 billion abroad in 2024, which is 16 percent higher than in 2023. 

    Keep track of the daily card turnover

    As a supplement to the quarterly payment statistics, which include information on the total card turnover in Denmark, Danmarks Nationalbank continuously publishes payment statistics based on daily payment card transactions in the card acquiring market in Denmark. The information is collected from six card payment acquirers in Denmark and is therefore not a complete record. This means that there will be differences in the coverage of the two statistics. Despite this, the development in card turnover in Denmark is comparable for the two statistics. In the daily payment statistics, one can already see how card turnover has developed up to and including January 19, 2025.  

    There are particularly large differences between the two reports in the period from the 2nd quarter og 2020 to the 2nd quarter of 2021. Part of the explanation for the differences in this period is the changed consumption and payment patterns during the COVID-19 pandemic.

    MIL OSI Economics –

  • MIL-OSI China: DPRK condemns Rubio’s ‘rogue state’ remarks

    Source: China State Council Information Office

    A foreign ministry spokesperson of the Democratic People’s Republic of Korea (DPRK) has condemned U.S. Secretary of State Marco Rubio for calling the country a “rogue state,” saying the remarks showed no change in the U.S. hostile policy toward the DPRK, the DPRK’s state media reported on Monday.

    In a release published on Sunday and carried by the official Korean Central News Agency, the spokesperson expressed the DPRK’s strong denunciation of and opposition to the hostile remarks made by Rubio, calling it a grave political provocation completely contrary to the principle of international law of respecting each other’s sovereignty and non-interference in each other’s internal affairs.

    Rubio’s remarks reaffirmed the U.S. hostile policy toward the DPRK and indicated the new U.S. administration’s wrong attitude toward the country, according to the release.

    The foreign ministry spokesperson said the DPRK will not tolerate any U.S. provocations and will take tough counteractions accordingly, as always.

    MIL OSI China News –

  • MIL-OSI: NB Private Equity Partners Limited Total Voting Rights

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey 3 February 2025

    NB Private Equity Partners Limited (“NBPE” or the “Company”) Total Voting Rights

    Total Voting Rights

    In accordance with DTR 5.6.1R, NB Private Equity Partners Limited (“NBPE” or the “Company”) notifies the market of the following:

    Class of Share Number in issue as at 31 January 2025 Voting Entitlement pursuant to the Articles of Incorporation Number held in Treasury as at 31 January 2025 Voting Rights as at 31 January 2025
    Class A Ordinary 49,367,173 May attend and vote at general meetings 3,150,408 46,216,765
    Class A Shareholders have the right to receive notice of general meetings of the Company and shall have the right to attend and vote at all general meetings.
    B Shares 10,000 Except in certain circumstances, do not carry voting rights 0 0
    Class B Shareholders do not have the right to receive notice of or have the right to attend and vote at any general meetings. However, there are limited circumstances where the Company shall not act, without the prior approval of the Class B Shareholders by ordinary resolution passed at a separate general meeting of the Class B Shareholders. Separately, the Directors shall, at appropriate times carry out the FPI Test and, if they determine that the US Shareholding Percentage had exceeded the FPI Specified Percentage as at such FPI Calculation Date, with effect from the date on which the Directors make such determination, the Class B Shares in issue shall, with respect to any Director Resolution, carry a positive number of voting rights as per the calculation referenced in the Articles.
    Total Voting Rights       46,216,765

    For further information, please contact:

    NBPE Investor Relations        +44 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman

    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with 2,800+ employees in 26 countries. The firm manages $500+ billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. UNPRI named the firm a Leader, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of December 31, 2024, unless noted otherwise.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    The MIL Network –

  • MIL-OSI: Baker Hughes and Hanwha Announce Partnership to Develop Small-Size Ammonia Turbines

    Source: GlobeNewswire (MIL-OSI)

    • Agreement to focus on creation of 100% ammonia combustion dual fuel with natural gas small-size turbines
    • Ammonia is a low-carbon fuel that can play a critical role in decarbonizing hard-to-abate sector, including marine transportation
    • Collaboration to deliver efficiency comparable to reciprocating engines while minimizing carbon emissions

    FLORENCE, Italy, Feb. 03, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, Hanwha Power Systems and Hanwha Ocean announced Monday a Joint Development and Collaboration Agreement (JDCA) for a new small-size turbine for ammonia applications that will leverage Baker Hughes’ small-size gas turbine technology and Hanwha’s ammonia combustion system. The agreement was signed during the Baker Hughes 2025 Annual Meeting in Florence. The new ammonia turbine will be suitable for marine applications but also for onshore and offshore applications, and for electric generation and mechanical drive.

    Ammonia is a critical fuel in enabling the decarbonization of hard-to-abate sectors, including marine, oil and gas, and power. Hanwha Ocean, one of South Korea’s leading shipbuilders, will be the main beneficiary of the JDCA and will adopt the new solution as a propulsion system for their future vessels, thus enabling maritime decarbonization.

    Hanwha already tested successfully a proof-of-concept of the combustor, with 100% ammonia as the fuel gas, and Baker Hughes completed its initial turbine feasibility studies in 2024. The two companies target to complete the full engine test with ammonia by the end of 2027, after which the turbine (~16MW power range) will be commercially available for orders.

    “Decarbonizing hard-to-abate industries and transportation is one of the most pressing but high-potential opportunities of our time,” said Alessandro Bresciani, senior vice president of Climate Technology Solutions at Baker Hughes. “We believe fuel switching to ammonia will play a key role in achieving significant emissions reductions across these sectors, and to realize this ambition, the industry needs more partnerships such as this. Together, we will continue to lead by example and take energy forward.”

    “We are very excited to be collaborating with Baker Hughes to deliver an innovative and efficient solution to enhance the adoption of ammonia as a fuel for the propulsion system for future vessels. This collaboration marks a significant turning point in accelerating the transition to low-carbon fuel propulsion in the global maritime industries,” said James Shon, senior executive vice president and head of Product Strategy and Technology at Hanwha Ocean.

    “The transition to low carbon fuels is a mission for everyone in the marine sector. We aim to play a key role in the decarbonization of the sector, together with Baker Hughes, by supporting ammonia combustion and packaging systems,” said Nuno Kim, executive vice president and head of Hanwha Power Systems Ship Solution Division.

    Baker Hughes is currently exploring how its small-size gas turbines can accelerate the transition from diesel motors to turbines powered by ammonia and hydrogen. In January 2024, the company announced the completion of the successful testing of the world’s first 100% hydrogen turbine, which is now commercially available and with orders under execution.

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    About Hanwha
    Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone. For more information, visit: www.hanwha.com

    For more information, please contact:

    Baker Hughes Media Relations
    Chiara Toniato
    +39 3463823419
    chiara.toniato@bakerhughes.com

    Hanwha Power Systems Media Relations 
    Sung Jae Park 
    +70 7147 4895 
    sungjae.park@hanwha.com 

    Baker Hughes Investor Relations
    Chase Mulvehill
    +1 346-297-2561
    investor.relations@bakerhughes.com

    The MIL Network –

  • MIL-OSI: VAALCO Energy, Inc. Announces Significant Milestone in Its Côte D’Ivoire FPSO Dry Dock Refurbishment Project

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 03, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) is pleased to announce a significant milestone in its Côte d’Ivoire Floating Production Storage and Offloading vessel (“FPSO”) Dry Dock Refurbishment Project.

    In alignment with the project timeline, the FPSO Baobab Ivoirien MV10, operated by Canadian Natural Resources International (“CNRI”), ceased hydrocarbon production as scheduled on January 31, 2025. The final lifting of crude oil from the vessel is set to take place on or around February 6, 2025.

    The project team has commenced mobilization efforts, deploying the necessary workforce support vessels and equipment to facilitate the safe disconnection of the FPSO. The vessel is planned to be wet towed to the shipyards in Dubai for refurbishment upon departure from the field on March 24, 2025.

    “We are pleased with the progress of this critical project and remain committed to ensuring a smooth and efficient transition for the FPSO disconnection and refurbishment which we expect, when complete, will allow production to continue until at least 2038, subject to the final regulatory approvals on the license extension and further investment,” said George Maxwell, Vaalco’s Chief Executive Officer. “This milestone represents another step forward in delivering on our strategic objectives while maintaining the highest standards of safety and operational excellence. We have already been paid back 1.8x1 our initial net investment in Côte d’Ivoire in the eight months since closing and the performance of the asset has tracked well ahead of our expectations at the time of the acquisition.”

    Vaalco will provide further updates as the project progresses.

    About Vaalco

    Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria and Canada.

    For Further Information

       
    Vaalco Energy, Inc. (General and Investor Enquiries) +00 1 713 543 3422
    Website: www.vaalco.com
       
    Al Petrie Advisors (US Investor Relations) +00 1 713 543 3422
    Al Petrie / Chris Delange  
       
    Buchanan (UK Financial PR) +44 (0) 207 466 5000
    Ben Romney / Barry Archer Vaalco@buchanan.uk.com
       

    Forward Looking Statements

    This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding Vaalco’s ability to effectively integrate assets and properties it has acquired as a result of the Svenska acquisition into its operations; (iii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom; (iv) expectations regarding future acquisitions, investments or divestitures; (v) expectations of future balance sheet strength; and (vi) expectations of future equity and enterprise value.

    Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and costs of completion for scheduled maintenance of the FPSO servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s 2023 Annual Report on Form 10-K filed with the SEC on March 15, 2024 and subsequent Quarterly Reports on Form 10-Q filed with the SEC.

    Inside Information

    This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of Vaalco is Matthew Powers, Corporate Secretary of Vaalco.

    ____________________

    1 Payback of 1.8x is based on unaudited operational cash flow for the Côte d’Ivoire assets compared to the acquisition price of $40.2MM as of 31st December 2024.

    The MIL Network –

  • MIL-OSI Australia: End The Gender Pay Gap Campaign

    Source: Workplace Gender Equality Agency

    Meet Sage, the star of WGEA’s new campaign to increase awareness and understanding of Australia’s gender pay gap. 

    Because it is your gender pay gap. 

    Perhaps you’re a woman earning, on average, $550 a week less than men in your workplace.

    Or maybe you’re a man who is finding it hard to access paid parental leave or flexible working arrangements which would significantly help improve you and your family’s wellbeing.

    These are some of the contributors to the gender pay gap, which ripples throughout Australian life and impacts every one of us.

    And we need to work together to help fix it and help make workplaces fairer.

    On March 4, WGEA will publish the gender pay gaps of over 9,200 private sector employers. 

    Many companies are making progress, but it’s slow. Far too slow for the many women and men disadvantaged by it.

    Did you know only 56% of employers improved their gender pay gap over the past 12 months?

    Men made up just 17% of people who took up primary carer’s parental leave.

    And 1 in 4 boards still don’t have a single woman on them.

    The evidence shows fixing these imbalances is possible. It leads to greater productivity and profitability, and healthier, happier workers. Which means a happier, more productive, Australia.

    In the lead up to the publishing of gender pay gaps, we all need to work together to speed up change.

    At the centre of this campaign is an interactive game – hosted by our friendly and hopeful quizmaster Sage – to  encourage Australians to test your knowledge and learn more about gender equality in the workplace.

    We hope it will spark conversations, and we encourage you to share your experiences with us through our social channels, as well as with your colleagues, family and friends.

    Play the game and inform yourself of the facts.

    You can then check your employer’s data – everything from the gender pay gap, the demographics of who is employed in what roles, to their policies on parental leave and flexible work.

    Take a look for yourself at www.wgea.gov.au/Data-Explorer

    If you want to take it further you can talk to your manager or HR. Ask questions. What is causing your employer’s gender pay gap? How does it affect you? And what steps are they taking to improve it?

    Dig into the data. Find the causes. And help to end the gender pay gap. #sageadvice

    End the Gender Pay Gap Quiz | WGEA

    Currently, women in Australian earn, on average, just 78 cents for every $1 men earn.

    WGEA CEO Mary Wooldridge invites Australians to join the campaign, take the quiz and help mobilise their employers to take action to address the issues that create the gender pay gap.

    “We encourage everyone to work with our quizmaster Sage and learn about Australia’s gender pay gap and help share that knowledge – as well as their own experiences – with their colleagues, family and friends.

    “We hope this campaign prompts a conversation, and encourages employees to seek answers for themselves about where their employer stands on gender equality.

    “Every conversation reminds managers and executives of the importance of a workplace where people are fairly represented and equally valued.”

    WGEA supports employers to help them work towards this goal.

    “WGEA has lots of tools and resources on the Take Action page of our website to help employers investigate and act on their gender pay gaps,” Ms Wooldridge says.

    “The first step is to conduct a gender pay gap analysis to see where inequalities exist and WGEA has masterclasses, guides and advice to help employers to do this.

    “Once they have identified any gaps in their composition or pay, they can use our Action Planning Playbook which will help them work towards a solution.” 

    One in three employers have not yet done a gender pay gap analysis to find out where their inequalities exist.

    And too many people are still confused and conflate the gender pay gap with equal pay.

    Equal pay is the legal requirement to pay people the same amount for doing the same job, or a job of similar value. This has been the law for over 50 years.

    The gender pay gap, meanwhile, shows the difference between the average or median amount men earn in a workplace compared with women.

    MIL OSI News –

  • MIL-OSI: Bitget Wallet Unveils PayFi Vision: Bridging Real-World Payments and Onchain Finance

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 03, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has unveiled its 2025 strategy with PayFi being a key focus. With over 60 million users, Bitget Wallet is bringing PayFi to the forefront of personal finance, transforming crypto from a passive asset into a powerful financial tool for everyday use. By combining the efficiency of crypto payments and the ability to earn through decentralized finance (DeFi), PayFi integrates earning, sending, and spending into an ecosystem that maximizes the utility of every dollar, ensuring that every transaction contributes to financial growth. Bitget Wallet is positioning itself as a financial superapp, bridging blockchain innovation and real-world usability to revolutionize how individuals manage their money.

    Bitget Wallet’s PayFi Flywheel transforms crypto wallets from passive storage tools into engines of financial empowerment. With its earning, sending, and spending ecosystem, users can deposit crypto assets, such as stablecoins, into savings accounts offering flexible, real-time yields. These yields aren’t locked away but directly fuel daily expenditures, from shopping to subscriptions, supporting the “Buy Now, Pay Never” concept, where DeFi yields cover part of the expenses. By converging earning, sending, and spending, powered by blockchain’s efficiency, PayFi creates an interconnected ecosystem that keeps money productive and empowers users to grow their assets seamlessly.

    “PayFi is not just a product; it’s a movement to make crypto a viable financial tool for billions globally,” said Alvin Kan, COO of Bitget Wallet. “By leveraging the PayFi Flywheel, we’re redefining personal finance, integrating blockchain-powered systems into everyday life. This marks a paradigm shift in how people manage money — empowering individuals with tools to maximize productivity and financial freedom while making crypto more practical and impactful worldwide.“

    A cornerstone of Bitget Wallet’s PayFi initiative is the upcoming Bitget Wallet Card, a crypto card supported by Mastercard and linked to a crypto-friendly, multi-currency international bank account. The card will enable seamless global spending, offering competitive exchange rates. In addition to the card, Bitget Wallet is building an in-app shopping experience through partnerships with companies such as Triple A, Bitrefill, IvendPay, PundiX, and Coinpal. These partnerships enable users to spend crypto on everyday services, from purchasing gift cards for top brands like Amazon and Apple to topping up mobile credits and making in-store payments via QR codes or blockchain-powered POS systems. This interconnected ecosystem broadens crypto’s real-world application, ensuring that earning, sending, and spending reinforce one another in a cycle of value creation.

    Bitget Wallet also plans to introduce enhanced earning features, offering flexible yield options ranging from low-risk returns to higher-yield opportunities. Users can keep their funds productive even while using them for daily spending, ensuring money generates yield while remaining accessible. Peer-to-peer transfers will be streamlined, allowing faster, cheaper, and more accessible crypto transactions for daily use and remittances. “We’ve seen exceptional growth in some regions driven by high inflation and limited banking access,” said Alvin Kan, COO of Bitget Wallet. “In Africa alone, user numbers grew over 1000% last year, with similar trends in the Middle East and Latin America. These figures underscore the rising demand for decentralized solutions, and with PayFi, we aim to empower underserved regions with accessible financial tools.“

    For further details, visit the Bitget Wallet blog.

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300 million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.
    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord
    For media inquiries, please contact media.web3@bitget.com

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fa77ce39-76f9-4073-9c48-3c2f5453bfb5

    ttps://www.globenewswire.com/NewsRoom/AttachmentNg/c70d1483-2e18-4003-86e2-a4991cc794ff

    The MIL Network –

  • MIL-OSI: EfTEN Real Estate Fund AS unaudited results for 4th quarter and 12 months 2024

    Source: GlobeNewswire (MIL-OSI)

    Fund manager’s comment

    Despite the challenging economic environment, EfTEN Real Estate Fund AS managed to increase both total rental income and portfolio EBITDA in 2024. The fund’s portfolio was expanded by two new logistics properties in the fourth quarter and we are also planning to expand in the nursing home segment. EfTEN Real Estate Fund AS is primarily a dividend share. The fund aims to distribute 1.1 euros of dividends per share for 2024. In the spring of 2025, the fund management plans to increase the financial leverage of investment properties that that are currently significantly below the financial leverage principles set out in the fund’s financing policy. While the usual leverage ratio of real estate funds in Europe is on average 50% of the market value of assets, EfTEN Real Estate Fund AS’s portfolio-wide LTV (Loan-to-value) was 40% at the end of 2024.

    For the first time since spring 2023, the weighted average interest rate on the fund’s bank loans has fallen below 5% by the end of the year. Due to the expected further decline in EURIBOR, the interest rate on the Fund’s loans will continue to decrease in 2025.

    The priority for 2025 is vacancy management. As of the end of the year, the portfolio’s total vacancy rate was 2.6%, with the office segment vacancy rate at 11.3%. This elevated vacancy in the office sector is primarily attributable to the ongoing renovation of the Menulio 11 office building in Vilnius, which alone accounts for 47% of the office segment’s total vacancy. In line with market expectations, the Menulio 11 office building fit-out will be changed to include smaller offices which are expected to be handed over to tenants in the first half of this year.

    After the balance sheet date, the tenant of the Laagri Hortes gardening center, which belongs to the fund’s subsidiary and was previously undergoing reorganization, filed for bankruptcy. Harju County Court accepted the tenant’s bankruptcy petition for processing, and the hearing is scheduled for March of this year. Given the strong market interest in the property, there are multiple alternatives for further action. The share of Laagri Hortes in the group’s consolidated real estate investments is less than 1%, and according to the group’s management, the tenant’s bankruptcy proceedings are not expected to cause a significant decrease in the fair value of the property. As of December 31, 2024, the free funds available in the subsidiary’s bank account cover the scheduled loan and interest payments for Laagri Hortes for the next 17 months.

    In November and December 2024, the fund carried out a secondary public offering of shares, raising a total of €11.8 million in capital at €19 per share.

    Financial overview

    EfTEN Real Estate Fund AS’ consolidated sales revenue for the fourth quarter of 2024 was 8.314 million euros, an increase of 211 thousand euros (2.6%) compared to the fourth quarter of 2023. EfTEN Real Estate Fund AS’ consolidated sales revenue for the first 12 months of 2024 was 32.238 million euros, an increase of 421 thousand euros (1%) compared to the previous year. The Group’s net rental income for the first 12 months of 2024 totalled 29.977 million euros, i.e. 369 thousand euros more than in 2023. The Group’s net profit for the same period was 13.564 million euros (2023: 1.0 million euros).

    The consolidated net rental income margin was 93% in 2024 (2023: same), thus costs directly related to property management (including land tax, insurance, maintenance and improvement costs) and marketing costs accounted for 7% (2023: same) of sales revenue.
    The Group’s assets as of 31.12.2024 were 398.763 million euros (31.12.2023: 380.944 million euros), including the fair value of investment properties accounting for 94% of the assets (31.12.2023: the same). 
    Investment portfolio

    As of the end of 2024, the Group has 36 (31.12.2023: 35) commercial real estate investments, the fair value of which at the balance sheet date is 373.815 million euros (31.12.2023: 357.916 million euros) and the acquisition cost is 370.561 million euros (31.12.2023: 354.408 million euros). In addition to the investment properties owned by the Fund’s subsidiaries, the Group’s 50% joint venture owns the Palace Hotel in Tallinn, the fair value of which as of 31.12.2024 was 8.630 million euros (31.12.2023: 9.0 million euros).

    Investments in 2024

     The Group made investments in both new properties and the existing portfolio in 2024 totaling 21.6 million euros, including the acquisition of a logistics center in Tallinn, Härgmäe 8, by the Group’s subsidiary EfTEN Härgmäe OÜ in the autumn of 2024, paying a total of 8.8 million euros for the property, and the acquisition of a logistics center under development in Tallinn, Paemurru tee 3, by the Group’s subsidiary EfTEN Paemurru OÜ in the autumn of 2024, paying a total of 1.2 million euros for the property. In addition, the Group paid a total of 2.76 million euros for the development of the Paemurru logistics center in 2024.

    In 2024, the group completed the first phase of development at the Ermi nursing home in Tartu, where a total of 3.19 million euros were invested in the reporting year. In addition, construction on the C-building of the Valkla nursing home began, with investments reaching 788 thousand euros in 2024.

    Major investments in existing buildings were made in 2024 in the Saules Miestas shopping center, where the public areas were renovated for 1.8 million euros, and in the AirBaltic office building in Riga, where 665 thousand euros were invested in the building’s insulation work. Of the remaining investments, 1.6 million euros was spent on the reconstruction and modernization of rental spaces in various office buildings.

    Sales in 2024

    In September 2024, the Group sold the Tähesaju Hortes property for 4.675 million euros. Despite the payment difficulties of the tenant of the Tähesaju property, the Group earned nearly 300 thousand euros in net cash flow from the investment since its completion in 2018. The Group invested the funds received from the sale of the Tähesaju property in the acquisition of the Härgmäe logistics center.

    Rental income

    In 2024, the group earned a total of 31.076 million euros in rental income, which is 2% more than in 2023. Rental income increased the most in shopping centers. Rental income in the office segment decreased mainly due to the expiration of the lease agreement with the anchor tenant of the Menulio 11 office building in Vilnius and the related vacancy. In 2024, renovation works of the vacant rental premises in the Menulio 11 office building began, which are planned to be completed during 2025.
    The Group’s investment property vacancy rate per portfolio was 2.6% as of 31 December 2024 (unchanged from 31 December 2023). The highest vacancy rate was in the office segment (11.3%), where filling vacant rental properties has taken longer than previously expected.      

    Financing

    In the fourth quarter of 2024, two new subsidiaries of the fund, EfTEN Härgmäe OÜ and EfTEN Paemurru OÜ, signed loan agreements for the acquisition and development of real estate. In 2024, the fund’s subsidiaries EfTEN Autokeskus OÜ and EfTEN Jurkalne SIA extended the loan agreements concluded with the bank. The loan agreements of six subsidiaries of the group will expire within the next 12 months, the balance of which as of 31.12.2024 was 20,380 thousand euros. The LTV of the expiring loan agreements ranges from 27% to 48%, and the real estate investments have a stable rental cash flow, therefore, according to the group’s management, there will be no obstacles to extending the loan agreements.

    The weighted average interest rate of the Group’s loan agreements as of 31.12.2024 was 4.89% (31.12.2023: 5.91%) and the LTV (Loan to Value) was 40% (31.12.2023: 42%). All loan agreements of the Fund’s subsidiaries were linked to a floating interest rate in 2024.

    The Fund’s interest coverage ratio (ICR) for loans was 3.0 in 2024. Due to the increase in EURIBOR in the first half of 2024 and the increase in liabilities, the interest coverage ratio was 10% lower than in 2023.

    Information on shares

    In the last quarter of 2024, the fund carried out a share issue, during which 620,544 new shares were subscribed for at a price of 19 euros, of which the nominal value was 10 euros and the share premium was 9 euros. A total of 11.79 million euros was raised during the issue, including an increase in the fund’s share capital by 6.205 million euros and a share premium of 5.585 million euros. There were 0.159 million euros in expenses directly related to the issue. As of 31.12.2024, the fund had 11,440,340 shares.

    The net asset value (NAV) of EfTEN Real Estate Fund AS shares as of 31.12.2024 was 20.37 euros (31.12.2023: 20.21 euros). EfTEN Real Estate Fund AS’s net asset value per share increased by 0.8% in 2024. The fund distributed dividends in the total amount of 10.82 million euros in April 2024. Without the distribution the net asset value of EfTEN Real Estate AS shares would have increased by 4.9% in 2024.

    During 2024, the group has earned free cash flow of 11.109 million euros (2023: 11.314 million euros), of which 8.887 million euros (77.68 eurocents per share) could be considered gross dividends according to the fund’s dividend policy The fund’s management plans to refinance bank loans in the spring of 2025, where the LTV (Loan-to-Value) has fallen significantly below the fund’s financing policy threshold, and the operating cash flow exceeds loan and interest payments by more than twice. According to the management’s estimate, the refinancing would allow to increase the distributed dividend up to 1.1 euros per share (net).

    CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 

      IV quarter 12 months
      2024 2023 2024 2023
    € thousands        
    Revenue 8,314 8,103 32,238 31,817
    Cost of services sold -337 -506 -1,569 -1,626
    Gross profit 7,977 7,597 30,669 30,191
             
    Marketing costs -203 -190 -692 -583
    General and administrative expenses -987 -978 -3,666 -3,546
    Profit / loss from valuation of investment properties 831 -7,759 -1,038 -13,941
    Other operating income and expense 1 -2 46 21
    Operating profit/loss 7,619 -1,332 25,319 12,142
             
    Profit / loss from joint ventures 53 -474 -118 -499
    Interest income 62 87 278 184
    Other finance income and expense -2,052 -2,277 -8,696 -7,970
    Profit before income tax 5,682 -3,996 16,783 3,857
             
    Income tax expense -2,222 -1,884 -3,219 -2,857
    Net profit for the reporting period 3,460 -5,880 13,564 1,000
    Net comprehensive profit for the reporting period 3,460 -5,880 13,564 1,000
    Earnings per share        
       – basic 0.32 -0.54 1.25 0.09
       – diluted 0.32 -0.54 1.25 0.09

    CONSOLIDATED STATEMENT OF FINANCIAL POSITION

      31.12.2024 31.12.2023
    € thousands    
    ASSETS    
    Cash and cash equivalents 18,415 14,712
    Short-term deposits 2,092 3,400
    Receivables and accrued income 2,055 2,360
    Prepaid expenses 138 106
    Total current assets 22,700 20,578
         
    Long-term receivables 154 214
    Shares in joint ventures 1,960 2,078
    Investment property 373,815 357,916
    Property. plant and equipment 134 158
    Total non-current assets 376,063 360,366
    TOTAL ASSETS 398,763 380,944
         
    LIABILITIES AND EQUITY    
    Borrowings 25,625 16,907
    Liabilities and prepayments 3,245 3,417
    Total current liabilities 28,870 20,324
         
    Borrowings 123,795 130,849
    Other long-term liabilities 1,928 1,790
    Deferred income tax liability 11,097 9,283
    Total non-current liabilities 136,820 141,922
    Total liabilities 165,690 162,246
         
    Share capital 114,403 108,198
    Share premium 90,306 84,721
    Statutory reserve capital 2,799 2,749
    Retained earnings 25,565 23,030
    TOTAL EQUITY 233,073 218,698
    TOTAL LIABILITIES AND EQUITY 398,763 380,944

    Marilin Hein
    CFO
    Phone +372 6559 515
    E-mail: marilin.hein@eften.ee

    Attachment

    The MIL Network –

  • MIL-Evening Report: With the Gaza ceasefire in the balance, all eyes are on Benjamin Netanyahu’s trip to Washington

    Source: The Conversation (Au and NZ) – By Amin Saikal, Emeritus Professor of Middle Eastern and Central Asian Studies, Australian National University

    The brittle Gaza ceasefire between Israel and Hamas continues against all odds, given the depth of distrust and animosity between the warring parties.

    Since its enactment nearly three weeks ago, Hamas has released more than a dozen Israeli hostages captured on October 7 2023, in return for some 400 Palestinian prisoners from Israeli jails. Should the process move forward as relatively smoothly as it has so far, more hostages and prisoners are set to be freed during the remainder of the first stage of the truce.

    This is cause for a degree of optimism. However, negotiating the length, terms and implementation of the second and third stages of the ceasefire will prove very rocky.

    Israeli Prime Minister Benjamin Netanyahu, for instance, has already declared the ceasefire to be “temporary”.

    During the second stage, all Israeli hostages (alive and dead) are supposed to be freed in exchange for hundreds of prisoners. Israel is also expected to withdraw all its forces from Gaza as a prelude to the reconstruction of the coastal enclave in the final stage of the ceasefire.

    There are many issues that could derail the process, two of which are crucial:

    • Israel’s unrealised goal of wiping out Hamas and securing Gaza for itself

    • Hamas’ resolve to regain sovereign control over Gaza.

    Another factor is the influence of the new US president, Donald Trump. While
    Netanyahu has the full support of Trump, it remains unclear how much appetite the US leader has for more conflict in the Middle East.

    A meeting between the two in Washington this week could be pivotal to the success of the next phase of the ceasefire – or the resumption of the Gaza war.

    Hamas’ survival at odds with Israel’s war aims

    Israel has certainly degraded Hamas over the past 15 months of its scorched-earth operations in Gaza, which it launched in response to Hamas’ attacks on October 7 2023. However, it has not eliminated the group.

    The appearance of well-armed and well-composed Hamas fighters in the choreographed three rounds of hostage transfers in the areas that Israel has demolished testifies to the group’s survival.

    It essentially signals the failure of Netanyahu and his extremist supporters to achieve their main goals of uprooting Hamas and securing the release of the hostages through military action.

    Netanyahu’s acceptance of the ceasefire at this point clearly underlines the futility of the use of force as the only means to seek vengeance against Hamas. With the conflict in a stalemate for months, he could have embraced the ceasefire much earlier, thereby securing a quicker hostage release without more lives lost or more damage to Israel’s already-tarnished international reputation.

    Hamas’ survival means it is still a dangerous force, former US Secretary of State Antony Blinken said in mid-January. He said the group has “recruited almost as many new militants as it has lost” in the war.

    Reports also indicate Hamas has also maintained its control over Gaza’s administration and security forces, despite Israel’s efforts to destroy it.

    If that is the case, Israeli citizens – who have been highly polarised between those wanting the return of the hostages via a ceasefire and those backing Netanyahu’s government to continue the war – have the right to seriously question the prime minister’s leadership.

    The same applies to Israel’s outside supporters, especially the United States.

    Yet, this may not happen. The war-makers may win over the peace aspirants. For Netanyahu and his backers, the job is not finished. Many observers believe the very survival of Hamas can only motivate them further to resume the war once all the hostages are freed.

    What does Trump want?

    The future of the ceasefire now seems to hinge on Netanyahu’s meeting with Trump in Washington. According to media reports, the Israeli leader is keen to see where Trump stands on the second phase of the deal before negotiations continue.

    Trump recently doubled down on his suggestion to “clear out” Gaza’s 2.3 million citizens – though he has mentioned a figure of 1.5 million – by relocating them to Egypt and Jordan. Given the previous statements of the extremists in Netanyahu’s shaky coalition, nothing would please them more than a depopulated and annexed Gaza.

    Cairo and Amman, as well as other Arab countries, have firmly rejected the idea. Hamas and the enfeebled Palestinian Authority in the West Bank have outrightly condemned it.

    But Trump has insisted the Egyptian and Jordanian leaders would eventually come around because the US does a lot for them – referring presumably to their dependence on substantial annual American aid.

    If this plan were to transpire, it would not only be a recipe for more bloodshed and instability in the Middle East, but also more betrayal of the Palestinian cause and the two-state solution by the international community.

    While a ray of hope exists for the continuation of the ceasefire and the implementation of the ceasefire’s second stage, it is still very possible that Netanyahu will return to military action to destroy Hamas and annex part or all of Gaza along the lines of what Trump has suggested.

    The Trump-Netanyahu bond is so strong that it could even enable the Israeli leader to declare sovereignty over the West Bank.

    Given these uncertainties, the third stage of the ceasefire regarding the reconstruction of Gaza, which is estimated to be upwards of US$80 billion (A$1.3 trillion), is at this point nothing more than words on a piece of paper.

    Amin Saikal does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. With the Gaza ceasefire in the balance, all eyes are on Benjamin Netanyahu’s trip to Washington – https://theconversation.com/with-the-gaza-ceasefire-in-the-balance-all-eyes-are-on-benjamin-netanyahus-trip-to-washington-248873

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Supersonic jets are making a comeback – but despite the hype, don’t expect to book yet

    Source: The Conversation (Au and NZ) – By Chris James, UQ Amplify Senior Lecturer, Centre for Hypersonics, School of Mechanical and Mining Engineering, The University of Queensland

    Rendering of Boom Supersonic’s proposed Overture supersonic airliner. Boom Supersonic

    Late last week, American company Boom Supersonic flew faster than the speed of sound with its XB-1 supersonic demonstrator aircraft. It’s now the first piloted non-military aircraft to break the sound barrier since the Concorde was retired from service in 2003.

    It’s the first step in Boom’s ambitious goal to have supersonic airliners carry passengers by 2029.

    But what exactly is supersonic travel? There are good reasons why it’s not more common, despite the hype.

    Boom Supersonic’s XB-1 supersonic demonstrator aircraft during its 11th test flight where it became the first civilian aircraft to fly supersonically since the Concorde.
    Boom Supersonic

    What is supersonic flight?

    The Mach number is defined as a plane’s speed divided by the speed that sound waves move through the air. To “break the sound barrier” means to fly faster than the speed of sound, with Mach numbers greater than 1.

    The Mach number is an important ratio: as a plane flies, it disturbs the air in front of it. These disturbances move at the speed of sound. In supersonic flight these disturbances combine to form shock waves around the vehicle.

    When people say you can see a fighter jet before you hear it, they’re referring to supersonic flight: fighter jets can travel at around Mach 2.

    The sound from the fighter jet is trapped inside its shock wave; until the shock wave moves to your position on the ground, you won’t hear the plane.

    Illustration of how disturbances propagate in subsonic, Mach 1, and supersonic flow.
    Chabacano/Wikimedia Commons, CC BY-SA

    The allure of supersonic travel

    For efficiency reasons, most passenger jets cruise slightly slower than the speed of sound, at around Mach 0.8 (this is subsonic flight).

    Boom plans to build an airliner called Overture that can fly at Mach 1.7. Flying supersonically can drastically decrease flight times. The company claims a trip from New York to Rome on Overture could take just four hours and 40 minutes, instead of eight hours.

    Boom isn’t the only company working on this lofty goal. American firm Spike Aerospace is also developing a supersonic business jet, with the tagline “delivering the world in half the time”.

    This is the value proposition of supersonic passenger travel.

    In limited ways, it did already exist in the 20th century. However, due to timing, bad luck and the laws of physics, it didn’t continue.

    Remember the Concorde?

    Designs for supersonic airliners began in the mid-20th century, and by the 1970s we had supersonic passenger flight.

    There was the little-known Russian Tupolev-144 and Concorde, a Franco-British supersonic airliner operated by British Airways and Air France from 1976 to 2003.

    Concorde had a capacity of up to 128 passengers and cruised at Mach 2. It regularly travelled from London to New York in around three hours. The flights were expensive, mainly shuttling business people and the rich and famous.

    British Airways Concorde in flight.
    Wikimedia Commons/Eduard Marmet, CC BY-SA

    Why supersonic passenger flight didn’t take off

    Concorde was designed in the 1960s when it seemed like supersonic passenger transport was going to be the next big thing.

    Instead, the Boeing 747 entered commercial service in 1970. Cheap, large and efficient airliners like it blew Concorde out of the water.

    Designed to cruise efficiently at supersonic speeds, Concorde was extremely fuel inefficient when taking off and accelerating. Concorde’s expensive, “gas guzzling” nature was a complaint levelled against it for most of its lifetime.

    A catastrophic 1973 Paris air show crash of the competing Russian airliner, Tupolev Tu-144, also shifted public perception on supersonic flight safety at a time when many airlines were considering whether or not to purchase Concordes.

    Only 20 Concordes were manufactured out of the planned 100. It is still disputed today whether Concorde ever made money for the airlines who operated it.

    Illustration of a shock wave propagating from a supersonic aeroplane and hitting the ground to produce a sonic boom.
    Cmglee/Wikimedia Commons, CC BY-SA

    Noise is a real problem for supersonic flight

    Remember the fighter jets? When a plane travels supersonically, its shock waves propagate to the ground, causing loud disturbances called sonic booms. In extreme cases they can shatter windows and damage buildings.

    In the early 1970s, sonic boom concerns led the United States government to ban supersonic passenger flight over land in the US. This hurt the Concorde’s potential market, hence its only two regular routes were trans-Atlantic flights principally over the water.

    The Concorde was also a very loud plane at take off, since it needed a lot of thrust to leave the ground.

    Video footage of the final Concorde takeoff from New York’s JFK airport.

    The future of supersonic travel

    A future for supersonic travel relies on solving some or all of the issues Concorde faced.

    NASA and Lockheed Martin’s Quesst project aims to show sonic boom can be dissipated to manageable levels. They plan to fly their X-59 supersonic aircraft over US cities and gauge responses from citizens.

    Quesst aims to use the geometry of the X-59, with a long elongated nose, to dissipate sonic booms to a weak “thump”, hopefully allowing supersonic airliners to travel over land in the future.

    NASA’s X-59 quiet supersonic research aircraft.
    NASA/Steve Freeman

    Spike Aerospace’s Spike S-512 Diplomat concept also aims to be a “quiet” supersonic aircraft with a less disruptive sonic boom.

    Can Boom surpass Concorde?

    Boom Supersonic don’t plan to fly supersonically over land. Their plan is to fly over land at Mach 0.94, which they claim will allow 20% faster overland travel than standard passenger airliners, even subsonically.

    They also claim the design of their engines will ensure Overture is no louder than modern subsonic airliners when it takes off.

    Rendering of Boom Supersonic’s Overture supersonic airliner on the runway.
    Boom Supersonic

    In terms of gas guzzling, they plan to use up to 100% sustainable aviation fuel to reduce emissions and their carbon footprint.

    Concorde was made of aluminium using design tools available in the 1960s. Modern design methods and modern aerospace materials such as titanium and carbon fibre should also allow Overture and similar craft to weigh much less than Concorde, improving efficiency.

    While Boom are currently receiving a lot of interest, with orders from many airlines, Concorde did have similar commitment before it become available. Most of it didn’t eventuate.

    Additionally, Concorde was the product of an analogue era when the idea of flying to London or New York for the day for an important business meeting seemed like a necessary thing. In a world of remote work and video meetings, is there still a need for a supersonic airliner in the 2020s?

    For now, supersonic airliners like Overture are likely to remain in the realm of the rich and famous, like Concorde did. But with modern technological advances, it will be interesting to see whether supersonic passenger travel once again becomes reality – or even goes mainstream. Only time will tell.

    Chris James receives funding from the Australian Research Council, the Commonwealth Defence Science and Technology Group (DSTG), and the US Office of Naval Research.

    – ref. Supersonic jets are making a comeback – but despite the hype, don’t expect to book yet – https://theconversation.com/supersonic-jets-are-making-a-comeback-but-despite-the-hype-dont-expect-to-book-yet-248656

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Poison baits were used on 1,400 feral cats, foxes and dingoes. We studied their fate to see what works

    Source: The Conversation (Au and NZ) – By Pat Taggart, Adjunct Fellow in Ecology, University of Adelaide

    Bee Stephens, CC BY

    Poisoned baits are the main way land managers control foxes, feral cats and dingoes. Baiting is done to reduce livestock and economic losses, or pressure on endangered wildlife.

    Millions of baits are laid annually. But we still don’t understand how effective baiting actually is. Current evidence paints a mixed picture. That’s a problem, because baiting can have unintended consequences, such as killing native animals we don’t want to target. Some research suggests baiting can actually increase attacks on livestock, or that poisoning dingoes can increase feral cat and fox numbers and worsen the damage to native wildlife.

    We need better evidence on what baiting does and doesn’t do. Our new research draws on data from 34 previous studies assessing baiting effectiveness. In total, these largely Australian studies summarised the fate of more than 1,400 cats, foxes and dingoes. We used these data sets to conduct the most comprehensive analysis of baiting effectiveness to date.

    Biosecurity officers drying meat baits for a baiting program in Broken Hill in 2019.
    NSW Government, Local Land Services, Western Region, CC BY

    Baiting is ubiquitous

    Baits can be purchased commercially or produced in-house. In some states, land managers can bring meat baits to government authorities to have poison added free of charge. They are then distributed by vehicle along tracks and roads or dropped from aircraft across vast areas of Australia, New Zealand and islands worldwide.

    Single baiting programs can sometimes cover areas larger than 9,000 square kilometres – a land area similar to Puerto Rico or Cyprus.

    So how can we best undertake these baiting programs?

    1. Baiting does work

    Across the 34 studies, baiting cut predator survival in half (51.7%) – substantially higher than the death rate in unbaited areas (16%).

    This finding was broadly consistent regardless of whether baits were placed along tracks and roads or scattered over broader areas.

    In some cases, predator numbers can recover rapidly following baiting. Under favourable conditions, feral cat and fox populations can double in a year, while dingo populations can grow 50% annually. But, under average conditions, such high rates of population increase are likely uncommon.

    Predators from outside the control area can rapidly repopulate areas after a baiting program. For example, multiple studies have found no change in fox numbers even when baiting was conducted at monthly intervals. Similar results have been found after intensive fox shooting.

    But there are also examples where prolonged, broad-scale baiting has worked well. To protect the threatened yellow footed rock wallaby, researchers baited around wallaby populations in New South Wales and South Australia and largely eliminated foxes from large areas. Wallaby numbers then increased.

    2. Feral cats take baits too

    Feral cats are opportunistic ambush predators and hunt a wide range of prey. They’re visually driven and prefer fresh meat. For these reasons, it’s long been thought they are less likely to eat poisoned bait than foxes and dingoes.

    Feral cats are silent, stealthy hunters who prefer to hunt rather than scavenge.
    Vanessa Westcott, CC BY

    But our analysis doesn’t support this – feral cats appeared to be just as susceptible to baits as foxes and dingoes. That’s good news for wildlife.

    Significant and ongoing work has been put into designing better baits for feral cats to increase consumption rates. The most widely known of these baits is Eradicat, a sausage-style bait.

    While this bait is aimed at feral cats, our analysis didn’t provide strong evidence showing Eradicat actually killed more feral cats than other poison bait recipes. This suggests any bait is more effective than no bait when it comes to cat control.

    Eradicat baits have to be sweated to bring out the oils and make them more appealing.
    Luke Bayley, CC BY

    3. Blanket coverage works better

    In land manager circles, there’s a long-running debate over how best to bait. Some advocate putting out more baits over the same area, while others suggest more frequent baiting is better.

    So which is it? Our analysis shows more baits in an area is likely to equate to better control of predators, while distributing baits more frequently may not have the same effect.

    Why is this? Like people, animals are individuals, with their own behavioural tendencies. Wary animals may never take baits. Some foxes are known to store baits to eat later, by which time the baits may be less toxic, sickening rather than killing the animal.

    This is believed to lead to bait aversion, where foxes avoid baits in the future due to previous bad experiences – just as we might avoid foods which made us sick.

    A single, more intensive application of bait is likely to work better because susceptible predators eat the bait and die, and there is limited opportunity for bait aversion to develop. In contrast, more frequent baiting in a short period of time are of limited benefit because animals learn to avoid them.

    Dingoes have been routinely baited for decades.
    Ian Mayo, CC BY

    Fresh baits have long been believed to be eaten more readily than dry baits.

    But our analysis shows this may not always be true. Overall, the type of bait had little impact on whether or not it led to reduced predator survival.

    Optimising baiting

    More efficient control of predators will mean fewer baits are needed to achieve the same result. That, in turn, means less risk of harming other native animals, as well as reducing how much work and money it costs to control feral cats, foxes and dingoes.

    Our research shows baiting does indeed cut the number of predators prowling an area. But it also shows many factors we thought were important in making a baiting program effective may only have a limited effect.

    The goal of poison baiting is to reduce the damage predators do to livestock and wildlife. Baiting is an important and effective tool in reducing predator pressure on threatened species. But its efficacy – and the risk other animals could take the bait – means we have a responsibility to continually optimise its use and ensure its application is targeted.

    Pat Taggart receives funding from the federal Department of Agriculture, Fisheries and Forestry.

    Daniel Noble receives funding from the Australian Research Council.

    Yong Zhi Foo receives funding from the the Australian Research Council.

    – ref. Poison baits were used on 1,400 feral cats, foxes and dingoes. We studied their fate to see what works – https://theconversation.com/poison-baits-were-used-on-1-400-feral-cats-foxes-and-dingoes-we-studied-their-fate-to-see-what-works-246324

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Can you get sunburnt or UV skin damage through car or home windows?

    Source: The Conversation (Au and NZ) – By Theresa Larkin, Associate Professor of Medical Sciences, University of Wollongong

    Zac Harris/Unsplash

    When you’re in a car, train or bus, do you choose a seat to avoid being in the sun or do you like the sunny side?

    You can definitely feel the sun’s heat through a window. But can you get sunburn or skin damage when in your car or inside with the windows closed?

    Let’s look at how much UV (ultraviolet) radiation passes through different types of glass, how tinting can help block UV, and whether we need sunscreen when driving or indoors.

    What’s the difference between UVA and UVB?

    Of the total UV radiation that reaches Earth, about 95% is UVA and 5% is UVB.

    UVB only reaches the upper layers of our skin but is the major cause of sunburn, cataracts and skin cancer.

    UVA penetrates deeper into our skin and causes cell damage that leads to skin cancer.

    UVA penetrates deeper than UVB.
    Shutterstock/solar22

    Glass blocks UVA and UVB radiation differently

    All glass used in house, office and car windows completely blocks UVB from passing through.

    But only laminated glass can completely block UVA. UVA can pass through other glass used in car, house and office windows and cause skin damage, increasing the risk of cancer.

    Car windscreens block UVA, but the side and rear windows don’t

    A car’s front windscreen lets in lots of sunshine and light. Luckily it blocks 98% of UVA radiation because it is made of two layers of laminated glass.

    But the side and rear car windows are made of tempered glass, which doesn’t completely block UVA. A study of 29 cars found a range from 4% to almost 56% of UVA passed through the side and rear windows.

    The UVA protection was not related to the car’s age or cost, but to the type of glass, its colour and whether it has been tinted or coated in a protective film. Grey or bronze coloured glass, and window tinting, all increase UVA protection. Window tinting blocks around 95% of UVA radiation.

    In a separate study from Saudi Arabia, researchers fitted drivers with a wearable radiation monitor. They found drivers were exposed to UV index ratings up to 3.5. (In Australia, sun protection is generally recommended when the UV index is 3 or above – at this level it takes pale skin about 20 minutes to burn.)

    So if you have your windows tinted, you should not have to wear sunscreen in the car. But without tinted windows, you can accumulate skin damage.

    UV exposure while driving increases skin cancer risk

    Many people spend a lot of time in the car – for work, commuting, holiday travel and general transport. Repeated UVA radiation exposure through car side windows might go unnoticed, but it can affect our skin.

    Indeed, skin cancer is more common on the driver’s side of the body. A study in the United States (where drivers sit on the left side) found more skin cancers on the left than the right side for the face, scalp, arm and leg, including 20 times more for the arm.

    Another US study found this effect was higher in men. For melanoma in situ, an early form of melanoma, 74% of these cancers were on the on the left versus 26% on the right.

    Earlier Australian studies reported more skin damage and more skin cancer on the right side.

    Cataracts and other eye damage are also more common on the driver’s side of the body.

    What about UV exposure through home or office windows?

    We see UV damage from sunlight through our home windows in faded materials, furniture or plastics.

    Most glass used in residential windows lets a lot of UVA pass through, between 45 and 75%.

    Residential windows can let varied amounts of UVA through.
    Sherman Trotz/Pexels

    Single-pane glass lets through the most UVA, while thicker, tinted or coated glass blocks more UVA.

    The best options are laminated glass, or double-glazed, tinted windows that allow less than 1% of UVA through.

    Skylights are made from laminated glass, which completely stops UVA from passing through.

    Most office and commercial window glass has better UVA protection than residential windows, allowing less than 25% of UVA transmission. These windows are usually double-glazed and tinted, with reflective properties or UV-absorbent chemicals.

    Some smart windows that reduce heat using chemical treatments to darken the glass can also block UVA.

    So when should you wear sunscreen and sunglasses?

    The biggest risk with skin damage while driving is having the windows down or your arm out the window in direct sun. Even untinted windows will reduce UVA exposure to some extent, so it’s better to have the car window up.

    For home windows, window films or tint can increase UVA protection of single pane glass. UVA blocking by glass is similar to protection by sunscreen.

    When you need to use sunscreen depends on your skin type, latitude and time of the year. In a car without tinted windows, you could burn after one hour in the middle of the day in summer, and two hours in the middle of a winter’s day.

    But in the middle of the day next to a home window that allows more UVA to pass through, it could take only 30 minutes to burn in summer and one hour in winter.

    When the UV index is above three, it is recommended you wear protective sunglasses while driving or next to a sunny window to avoid eye damage.

    Theresa Larkin does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Can you get sunburnt or UV skin damage through car or home windows? – https://theconversation.com/can-you-get-sunburnt-or-uv-skin-damage-through-car-or-home-windows-246599

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI NGOs: Labor governments quash nature protection at behest of miners  

    Source: Greenpeace Statement –

    SYDNEY, Monday 3 February 2025 — Greenpeace Australia Pacific has slammed the Albanese government and WA Cook government for quashing promised national nature law reforms this term, a move it says is caving to mining and fossil fuel interests. 

    This follows reports of the government pulling debate of the proposed reform Bills in the Senate this week off the back of concerted pressure from major fossil fuel and mining companies, as well as WA Premier Roger Cook.

    Glenn Walker, Head of Nature at Greenpeace Australia Pacific, said:

    “Australia’s environment is in serious decline; we have one of the worst rates of deforestation in the world, and we are sending our wildlife extinct, including the iconic koala. 

    “The Albanese government promised to end the extinction crisis and deliver a strong new nature law this term backed by an independent environment watchdog with teeth. The crossbench and environment groups stood ready to support a compromise deal to deliver part of the reforms through the Senate this week. It is deeply disappointing that the government has now walked away.

    “Rather than standing up for nature and wildlife, Prime Minister Albanese and Premier Roger Cook have caved to big fossil fuel and mining executives railing against environmental protection in the interest of profits. The outcome will be devastating — more forest and habitat destruction, more wildlife killed, and a diminished natural environment for all Australians. 

    “As it heads into the next election, it’s critical the Albanese government makes it clear that these reforms will be a priority in the first 100 days of parliament if elected. We cannot have another wasted three years as wildlife continues to go extinct and our forests keep getting bulldozed.”

    —ENDS—

    High res images and footage of deforestation can be found here

    For more information or to arrange an interview contact Kate O’Callaghan on 0406 231 892 or [email protected]

    MIL OSI NGO –

  • MIL-OSI Submissions: Quarterly current account deficit $6.2 billion – Stats NZ media and information release: Balance of payments and international investment position: September 2024 quarter

    Source: Statistics New Zealand

    Quarterly current account deficit $6.2 billion – 18 December 2024 – New Zealand’s seasonally adjusted current account deficit narrowed by $0.9 billion to $6.2 billion in the September 2024 quarter, according to figures released by Stats NZ today.

    Fall in goods imports drives the narrowing deficit

    In the September 2024 quarter, the seasonally adjusted goods deficit narrowed by $0.7 billion to $1.9 billion, driven by a $0.8 billion fall in goods imports.

    “In the September 2024 quarter, New Zealand imported fewer cars than last quarter. Also contributing to the fall was transport equipment imports with no defence aircraft imported, which were recorded in the June 2024 quarter,” international accounts spokesperson Viki Ward said.

    “There was a higher volume of petrol imports in this quarter.”

    Goods exports decreased by $0.1 billion, driven by meat and casein.

    MIL OSI –