NewzIntel.com

Category: Transport

  • MIL-OSI China: Researchers use AI algorithm to reveal hidden RNA viruses

    Source: China State Council Information Office 2

    This year’s Nobel Prize results signify that artificial intelligence (AI) technology is not only leading trends in computer science, but also has a growing impact in disciplines such as biology and chemistry. It offers scientists a new research approach: using AI to unlock the secrets of nature.
    One of the latest examples comes from virology. An international research team used AI technology to discover hundreds of thousands of RNA viruses from global ecosystems, showing the immense potential of AI algorithms in virus discovery and paving new paths for virology.
    A team of researchers from Sun Yat-sen University School of Medicine, as well as Zhejiang University, Guangzhou University, the University of Sydney and other institutions carried out the study, reporting the discovery of 180 RNA virus supergroups and over 160,000 global RNA virus species.
    The study, which was published recently in the journal Cell, is the largest RNA virus study to date, significantly expanding the knowledge about global RNA viruses.
    New AI algorithm
    Viruses are an essential component of Earth’s ecosystems and closely related to human health. However, the number of known virus species is still quite limited. Scientists can use gene sequencing technology to compare the similarity of unknown viruses with known viral nucleic acid sequences, thereby identifying new viruses.
    However, this method relies on the existing knowledge of viruses. When studying RNA viruses, which are highly divergent, numerous and prone to mutation, the method of sequence homology comparison couldn’t work well anymore.
    The researchers have proposed a new solution using AI technology. According to Shi Mang from Sun Yat-sen University School of Medicine, who is also one of the corresponding authors of the research paper, the AI algorithm models can uncover viruses that were previously overlooked or not even known.
    “During epidemics, the speed and accuracy of AI technology can help scientists quickly pinpoint potential pathogens,” Shi said.
    He led the team to use a core algorithm dubbed LucaProt, a deep-learning Transformer model for the study. After extensive learning of viral and non-viral genomic sequences, it can autonomously form a set of criteria for virus identification to find viral sequences from large RNA sequencing datasets.
    New RNA virus species
    According to the study, LucaProt demonstrated high accuracy and specificity, with a false positive rate of 0.014 percent and a false negative rate of 1.72 percent.
    The team conducted viral search on 10,487 RNA sequencing data from global biological environmental samples, and discovered over 510,000 viral genomes representing more than 160,000 potential viral species and 180 supergroups of RNA viruses.
    Among them, 23 supergroups could not be identified by traditional sequence homology methods. They can be referred to as the “dark matter” of the viral community.
    The study found that these viruses are distributed across various ecological environments on Earth. The highest viral diversity is found in leaf litter, wetlands, freshwater, and wastewater environments. Considerable virus diversity and abundance are also found in extreme environments such as antarctic sediments, deep-sea hydrothermal vents, activated sludge, and saline-alkali wastelands.
    According to Hou Xin, the first author of the paper, these viruses include not only pathogens that infect humans but also those that exist in the environment and infect various organisms. They can infect a variety of animals, plants, single-celled protists, fungi and bacteria.
    “A deeper understanding of viruses in the environment can help us better study the workings of the entire ecosystem. Moreover, we can use this method to discover viruses closely related to human diseases for the surveillance and early warning of emerging diseases,” Hou said.
    “The traditional classification system has become inadequate for the new viruses, whose diversity far exceeds human imagination. What we see now is just the tip of the iceberg,” Shi said.
    New tool for more studies
    It is a model specifically designed for discovering RNA viruses, but it also integrates the ability to recognize protein sequences and implicit structural information, and can be used to identify protein functions.
    According to the study, the LucaProt model helped researchers identify genomic structures beyond previous virus knowledge, revealing the flexibility of RNA virus genomic evolution.
    It also revealed a variety of viral functional proteins, especially those related to bacteria, indicating that there are more types of RNA bacteriophages, the viruses that infect bacteria, to be explored.
    The research team has open-sourced the model and shared it with scientists worldwide online.
    Li Zhaorong from Apsara Lab of Alibaba Cloud Intelligence, another corresponding author, believed that AI is gradually changing the way scientists tackle various scientific challenges.
    “This model is becoming a cutting-edge tool in virus identification and is also being applied to other types of protein identification and discovery of functions,” Li said.
    Xu Jianguo, an academician of the Chinese Academy of Engineering, said that the success of LucaProt marks a breakthrough for AI algorithms in virus discovery. In the future, AI is expected to become a major tool in microbiology and can be applied to predict the pathogenicity of viruses to humans.

    MIL OSI China News –

  • MIL-OSI China: China thwarting satellites used to spy

    Source: China State Council Information Office 2

    China has been handling threats from foreign intelligence agencies who use satellites to conduct espionage in their attempts to steal the country’s secrets, according to the Ministry of State Security.
    The ministry said in an article published on its WeChat account on Wednesday that some foreign spy organizations continue to use high-resolution satellites to carry out remote-sensing reconnaissance on China. They also keep trying to infiltrate China’s space companies by tempting and intimidating Chinese scientists and engineers to obtain the latest developments in their research.
    Some Western countries have been hyping up the arms race in orbit and the contest for “space hegemony”, making all-out efforts to hinder China’s capability and jeopardize its space operations, it noted.
    Space has become a new domain for economic growth, military conflicts and national security work. Protecting space-based systems and orbital operations from threats and infringement is an important part of national security work because space-based assets are significant to a nation’s security and development, the ministry said.
    In recent years, state security bodies worked with relevant departments to handle cases in which foreign spies tried to steal secrets in China’s space sector, effectively suppressing foreign intelligence agencies’ espionage attempts, the ministry said.
    State security departments will continue to use concrete measures to safeguard China’s rights, security and interests in space, it added.
    Information previously published by the ministry shows that the space sector is a focal point for Western intelligence agencies that spy on China. Their agents target scientists, designers and technicians working for State-owned contractors and have turned a handful of employees into traitors, including a senior missile designer who was exposed in 2007.
    The latest spy case involving China’s space industry that has been made public was disclosed in April 2023.
    Zhao Xuejun, a researcher at a State-owned institute, was approached by foreign spies while he was studying overseas and then was recruited. After returning to China, he continued to work for the foreign intelligence organization and delivered a large number of classified documents.
    He was arrested in June 2019 and was sentenced in August 2022 to seven years in prison.
    An industry observer who declined to be named said that foreign spies are keen to obtain information about China’s space capability and programs because analyzing such information can help to establish a comprehensive, in-depth picture about China’s strategic prowess and its scientific, technological and engineering capacities.

    MIL OSI China News –

  • MIL-OSI China: Researchers build autonomous underwater vehicle for deep-sea microbial sampling

    Source: China State Council Information Office 2

    Researchers from Tianjin University have made a breakthrough in marine biological research with the development of the country’s first autonomous underwater vehicle designed for deep-sea microbial sampling.
    They have conducted comprehensive tests on the performance and functionality of the vehicle at various depths of less than 1,000 meters in the South China Sea, achieving in-situ sampling and high-fidelity preservation of deep-sea microbial genes. The related project was reviewed and approved recently by experts from the Laoshan Laboratory.
    The deep sea is the largest habitat within the Earth’s system, home to a vast array of undiscovered microbial species and untapped resources. Its unique ecosystem, characterized by high salinity, high pressure, low temperatures and nutrient scarcity, has remained largely unexplored.
    In-situ sampling of deep-sea microorganisms is essential for understanding marine species diversity and exploring the mysteries of ocean habitats.
    However, traditional ship-based sampling techniques often face issues such as sample contamination, degradation and nucleic acid structural alterations. These methods are also constrained by low efficiency and high costs.
    The autonomous underwater vehicle, equipped with advanced deep-sea sampling devices and environmental sensors, transitions sampling from localized, single-point and manual-assisted operations to regional, multi-point and autonomous missions. It also offers the seamless integration of sampling, high-fidelity preservation and nucleic acid preparation for deep-sea microbes.
    Its several technical indicators have filled gaps in domestic capabilities in related fields, and the indicators such as maximum sampling depth, number of samples and maximum single filtration volume have reached the international leading level, according to the experts from the review panel.
    The achievement can not only enhance sample quality and reduce the sampling cycle, but also boost the efficiency of marine microbial habitat research.
    It can also provide decisive samples and genetic data support for the discovery and exploration of new marine microbial species, revealing the patterns and evolutionary mechanisms of marine microbial diversity, and clarifying the influence mechanisms of the microbial carbon pump and ocean carbon sequestration.
    The research team plans to further tackle the technologies for deep-sea microbial sampling and metagenomic analysis, and improve the comprehensive resource database of marine microorganisms.

    MIL OSI China News –

  • MIL-OSI China: CNOOC, Air Liquide pioneer long-distance liquid hydrogen transport

    Source: China State Council Information Office

    A vessel carrying specialized insulated tanks containing liquid hydrogen arrived at Yantian Port in the south China metropolitan of Shenzhen on Tuesday, after a voyage of about 20,000 km from Europe.

    The pioneering long-distance transport of the liquid hydrogen was jointly carried out by the China National Offshore Oil Corporation (CNOOC) and French industrial gases giant Air Liquide, which marked a significant milestone in global energy transportation.

    The shipment covered over 20,000 km from Rotterdam to Shenzhen, emphasizing the potential of hydrogen as a sustainable energy source.

    The International Renewable Energy Agency predicted that by 2050, more than 30 percent of global hydrogen production will be used for international trade. China’s annual hydrogen production has amounted to 40 million tonnes, and long-distance offshore shipping of liquid hydrogen has been eyed as a new transport initiative to explore hydrogen energy trade.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Remarks by SCS at media session

    Source: Hong Kong Government special administrative region

         Following are the remarks by the Secretary for the Civil Service, Mrs Ingrid Yeung, at a media session after attending a radio programme to elaborate on initiatives related to the civil service in “The Chief Executive’s 2024 Policy Address” this morning (October 24):

    Reporter: In the Policy Address that was announced last week, the Government will offer three days of childcare leave per year to civil servants with children under three years of age, and they are allowed to leave early for more festivals. Is it actually possible to add more leave for civil servants, and what are the concerns for the Government in increasing the number of leave? As well as the civil servant shortage, the figure stood at around 10 per cent as of June this year. Is the Government worried about this and why this is the case? 

    Secretary for the Civil Service: For childcare leave, we have to balance our operational need with the introduction of more family-friendly measures. I think, as a start, we have to be prudent and so we have decided that we will offer three days per year for each child under three  years of age who needs more care by their parents. We will review how this works out and see if there is room for improvement or whether it really affects our work seriously. We cannot tell at the present moment as it is a new measure but we will review this after it has implemented for some time.

         As for the vacancy rate, we are proceeding with full force our recruitment efforts. But at the same time, I would also say that we will also be very careful with the use of manpower. One of our measures, in fact this year in the Policy Address, is to see if technological solutions can be introduced to make better use of existing manpower, whether processes can be streamlined, whether priorities can be changed to make better use of existing manpower. Making better use of existing manpower, or reducing the need for manpower we involve in labour intensive jobs by applying more technological solutions, are also ways of dealing with the present vacancy rate. 

    Reporter: From the Government observation, what are the possible reasons behind the vacancy rate of around 10 per cent?

    Secretary for the Civil Service: In the past few years, we have seen a high retirement wave. It is simply because of the age of civil servants. And also the number of graduates is not as many as decades ago. So we have to really compete for talents. We have seen that Hong Kong has a very low unemployment rate. The unemployment rate is almost telling us that there is full employment in Hong Kong so we really have to compete fiercely with the private sector, with other employers, for talents. So these are all the reasons contributing to a higher vacancy rate or needing more time to recruit the manpower that we need.

    (Please also refer to the Chinese portion of the remarks.)

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Building Homes for NSW program delivers sites for another 1,600 homes

    Source: New South Wales Government 2

    Headline: Building Homes for NSW program delivers sites for another 1,600 homes

    Published: 24 October 2024

    Released by: The Premier, Minister for Homelessness, Minister for Housing, Minister for Lands and Property, Minister for Planning and Public Spaces

    The Minns Labor Government is continuing to deliver more homes through its Building Homes for NSW program, including through its statewide property audit, announcing a further 30 sites to build around 1,600 homes.

    Land audit sites

    The Government has identified 14 sites through the property audit to provide land to build around another 1,400 homes.

    Today’s announcement includes two sites at Box Hill and Riverstone to be transferred to Homes NSW for potential development of almost 50 social and affordable homes and over 35 market homes.

    A further nine sites across Sydney and three sites in regional NSW have been identified for future housing development by either Landcom or in partnership with the private sector, to allow the estimated delivery of more than 1300 market and affordable homes.

    The Sydney sites include unused government land at three sites at Rouse Hill, and sites at Edmondson Park, Stanmore, Earlwood, North Sydney, Chippendale and Fairfield. The three regional sites are located at Broadmeadow, Morisset and Orange.

    The final approach to delivering housing on these sites, including details on the quantity and types of housing, will be confirmed following further due diligence and subsequent planning and regulatory approvals.

    The announcement of these sites follows the NSW Government’s previous confirmation of 14 other sites across Sydney and regional NSW that will be transferred to housing delivery agencies.

    Homes NSW sites

    In addition to the sites identified through the property audit, the Government will also shortly commence construction of 194 new social homes on 16 further sites across the state owned by Homes NSW.

    These sites are in regions including Sydney, the Central Coast, Newcastle, the Northern Rivers, and the Riverina, with construction on the first sites due to start before the end of the year.

    The Building Homes for NSW program will deliver up to 30,000 homes on government sites, including 8,400 new public homes, giving priority to women and children fleeing violence. For more information, visit https://www.nsw.gov.au/departments-and-agencies/homes-nsw/building-homes-for-nsw

    The property audit is part of the Building Homes for NSW program. For more information about the property audit, visit https://www.dpie.nsw.gov.au/housing-and-property/our-business/advisory-and-transactions/nsw-government-property-audit-for-housing.

    Premier for New South Wales Chris Minns said:

    “We know housing affordability and availability is the single biggest pressure facing the people of NSW and our property audit continues to focus on ensuring unused or surplus government land becomes available to deliver more housing.

    “Today’s announcement of further sites across Sydney and regional NSW is part of our commitment to provide for housing for renters, first home buyers and the most vulnerable members of our community.”

    Minister for Planning and Public Spaces Paul Scully said:

    “The Minns Labor Government continues to deliver on its commitment to identify land it owns that could be better used for housing. 

    “The property audit is another part of our plan to deliver more homes and is bolstered by the reforms to the NSW planning system and investment in Landcom that allows it to deliver more homes.”

    Minister for Lands and Property Steve Kamper said:

    “The property audit has been methodically assessing government land and is now in full swing delivering surplus land for more homes, with 28 sites so far announced and capable of providing more than 3,000 residential dwellings.

    “The ongoing property audit continue to deliver much needed sites to help address the housing crisis currently being faced in NSW.”

    Minister for Housing and Minister for Homelessness Rose Jackson said:

    “Delivering more social and affordable homes is critical to rebuilding our housing system,

    the two Sydney sites identified for social housing are well-located close to public transport and services so they can deliver accessible, modern housing with over 250 new homes for those most in need.

    MIL OSI News –

  • MIL-OSI New Zealand: Ombudsman – Banking disputes scheme gets high mark in independent review

    Source: Banking Ombudsman

    25 October 2024 – The Banking Ombudsman Scheme has scored highly in an independent evaluation of its operations, a report by the reviewer released today shows.

    Consultant Deborah Hart, who conducted the five-yearly review, found the dispute resolution scheme met its terms of reference, strategic objectives and legislative requirements, the last of which concern its accessibility, independence, fairness, accountability, efficiency and effectiveness.

    “Overall, this is very positive report card,“ said Banking Ombudsman Nicola Sladden. “It confirms that we are make a valued and credible contribution to a fair banking sector.”

    The review rated the scheme highly for its dispute resolution work and ability to pinpoint the causes of complaints and share insights with banks and others to improve the overall banking experience.

    It also acknowledged the scheme’s rigorous and credible approach to reaching decisions, noting that the scheme had satisfactorily implemented the recommendations of the last review, which Ms Hart also conducted.

    Ms Sladden said the review made 11 recommendations, all of which the scheme agreed with and was either already implementing or considering how to implement.

    She said the scheme was committed to continuously improving how it worked, and the report would help in that effort.

    “We know there are areas where we can improve as we grow in size and face increasingly complex cases, especially those relating to fraud and scams, which continue to make up a large share of our workload.

    “We will continue to work with government agencies, regulators, banks and consumer groups to ensure fair outcomes in a cost-effective and transparent way.”

    A copy of the review is available here: 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Wine Sector – Appellation Marlborough Wine: Annual Collection 2024

    Source: Appellation Marlborough Wine

    The 2024 Appellation Marlborough Wine (AMW) Annual Collection has been unveiled, celebrating the pinnacle of Marlborough Sauvignon Blanc. Now in its third year, the Collection provides wine enthusiasts an opportunity to explore a diverse array of styles, each shaped by the unique sub-regions and the winemaking expertise of Marlborough.
    “AMW’s Annual Collection continues to recognise and celebrate world-class Marlborough Sauvignon Blanc,” says Michael Wentworth, CEO of AMW. “The 2024 Collection highlights our member’s dedication to quality, expression of our region’s unparalleled terroir, and to winemaking craft.”
    This year’s collection was judged by an esteemed panel, including Stephen Wong MW, Elaine Chukan Brown (Wine Enthusiast), and Paul Stringer (Moore Wilson), bringing global expertise across education, media, on-trade, and retail sectors. “We are thrilled to have worked with such a distinguished group of judges,” says Mike.
    The panel evaluated over 75 current vintage Sauvignon Blancs, selecting a top 12 that reflects the region’s unique vineyard sites and winemaking styles.
    Chair of the judging panel, Stephen Wong MW, remarked: “2024 was a solar vintage with very expressive but also beautifully balanced fruit. The wines have breezy ease and effortless drinkability, even this early on. When making the selection, the judges found it hard to ignore the charming 2024 expression even if the standard of many 2023 wines in the ‘alternative’ category were impressive. From what we tasted, producers should be proud of how complex and sensitively handled many wines were.”
    THE APPELLATION MARLBOROUGH WINE ANNUAL COLLECTION 2024:
    – Ahi Kā Blackmore Sauvignon Blanc 2024 (Dillons Point, Lower Wairau Valley)
    – Astrolabe Marlborough Sauvignon Blanc 2024 (Marlborough)
    – Auntsfield Natures Path Sauvignon Blanc 2024 (Ben Morven, Southern Valleys)
    – Dog Point Vineyard Sauvignon Blanc 2024 (Southern Valleys, Wairau Valley)
    – Georges Michel Sauvignon Blanc 2024 (Lower Wairau Valley)
    – Huia Sauvignon Blanc 2024 (Wairau Valley)
    – Isabel Single Vineyard Sauvignon Blanc 2024 (Wairau Valley)
    – Nautilus Sauvignon Blanc 2024 (Marlborough)
    – Pretty Paddock Sauvignon Blanc 2024 (Lower Wairau Valley)
    – ROHE Blind River Sauvignon Blanc 2024 by Rapaura Springs (Blind River)
    – Starborough Sauvignon Blanc 2024 (Awatere Valley)
    – Whitehaven ‘Block 11’ Barrel Fermented Sauvignon Blanc 2023 (Rapaura, Central Wairau Valley)
    Wines from the 2024 AMW Annual Collection are all current releases. Wine enthusiasts are encouraged to contact their preferred retailers or the wineries directly for availability.
    ABOUT APPELLATION MARLBOROUGH WINE (AMW):
    Appellation Marlborough Wine (AMW) was founded in 2018 to protect the integrity and reputation of Marlborough wines by ensuring they meet the highest standards of quality, provenance, and sustainability. Only wines that meet AMW’s stringent certification process carry the AMW mark, guaranteeing 100% Marlborough origin, certified sustainable vineyards, and exclusive bottling in New Zealand.
    AMW certification assures consumers of the following:
    – Origin: Wines are made exclusively from grapes grown in Marlborough’s defined viticultural areas.
    – Authenticity: Wines are bottled only in New Zealand, preserving their pure Marlborough expression.
    – Integrity: Wines meet rigorous quality standards and pass independent blind tastings to ensure they reflect Marlborough’s unique terroir and winemaking excellence.
    – Sustainability: All vineyards are certified by recognized sustainable viticulture programs, supporting the long-term health of Marlborough’s environment and communities.
    With over 55 members, including some of Marlborough’s most iconic producers, AMW represents a commitment to protecting and enhancing the region’s global reputation for producing world-class wines. Look for the AMW mark as a guarantee of authenticity and excellence.
    For more information, visit www.appellationmarlboroughwine.co.nz

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Culture – Auckland Museum marks He Rā Maumahara with launch of refreshed New Zealand Wars Gallery

    Source: Auckland Museum

    Open now, ahead of He Rā Maumahara, the National Day of Commemoration for the New Zealand Wars on Monday 28 October, Auckland Museum presents Atarau: Stories of the New Zealand Wars, a refreshed gallery exploring the wars’ lasting impact on Aotearoa.

    In 1996, Auckland Museum introduced a dedicated New Zealand Wars gallery with a historic exhibition that was the first major museum presentation of the Wars from both Māori and Pākehā perspectives. 

    Atarau: Stories of the New Zealand Wars introduces new insights into the events that shaped our nation, incorporating taonga, contemporary artworks, and diverse viewpoints that encourage reflection on the complex legacies of the wars and their lasting influence on society today. It now builds on the Museum’s commitment to multiple perspectives on these pivotal conflicts.

    The exhibition has been curated by Dr Rowan Light and Nigel Borell. It comes as part of a wider research and development programme, responding to both commemorative and curriculum changes addressing the New Zealand Wars in Aotearoa.

    Rowan Light, New Zealand Wars Project Curator says, “Atarau invites visitors to connect with the past while the Museum moves toward a longer-term gallery refresh. It is an important step in creating a space where people can engage with the deep, often difficult history of the New Zealand Wars.”

    “The title Atarau carries many connotations,” says Nigel Borell, Curator Taonga Māori. “‘Ata’ can mean shadow, early dawn, reflection; ‘rau’ can mean many, leaf, or indefinitely. Together, Atarau plays on themes of clarity and shadow – revealing what may have been obscured by time and bringing new perspectives into the light. It is an invitation to look at our shared history with fresh eyes, understanding the many facets of our past.”

    The refreshed gallery includes contemporary artworks by Maureen Lander (Ngāpuhi), Haare Williams (Ngāi Tūhoe and Te Aitanga-a-Mahaki), Kingsley Baird, Richard Lewer, Bryce Brown, Ria Hall (Ngāi Te Rangi, Ngāti Ranginui, Tuwharetoa, Te Whānau-a-Apanui), Ati Teepa (Ngāi Tūhoe, Kāi Tahu), and Ngahina Hohaia (Taranaki iwi, Parihaka – Ngāti Moeahu, Ngāti Haupoto). Their artworks reflect on these conflicts and provide dialogue around the legacy of the Wars on the land and its people.

    The exhibition opens just ahead of He Rā Maumahara the National Day of Commemoration for the New Zealand Wars, which was inaugurated in 2017. Auckland Museum will be illuminated on 27 and 28 October in a pounamu green to mark this commemoration, and to provide a link between the exterior of building the newly-refreshed gallery inside.

    Atarau: Stories of the New Zealand Wars is free with Museum Entry and open now.

    ABOUT AUCKLAND WAR MEMORIAL MUSEUM

    Auckland War Memorial Museum is one of New Zealand’s first museums and is free for Aucklanders. The Museum tells the story of New Zealand, its place in the Pacific and its people. The Museum is a war memorial for the province of Auckland and holds one of New Zealand’s top three heritage libraries.

    It has pre-eminent Māori and Pacific collections, significant natural history resources and major social and military history collections, as well as decorative arts and pictorial collections.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Speech by SITI at Asia Health Innovation Summit of StartmeupHK Festival 2024 (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Asia Health Innovation Summit of StartmeupHK Festival 2024 today (October 24):
     
    Distinguished guests, ladies and gentlemen,
     
         Good morning. It is my pleasure to speak at the Asia Health Innovation Summit, one of the highlights in the five-day StartmeupHK Festival. First of all, thank you for InvestHK and Brinc for bringing us an unparalleled platform to address the pressing health challenges and to push the boundaries of what is possible in life and health technology.
     
         Hong Kong is pressing ahead to become an international innovation and technology (I&T) centre, as well as a health and medical innovation hub. With the rapid advancement of technology, we have been entering unchartered grounds in the life and health field. With five world top-100 universities, two world top-40 medical schools, eight State Key Laboratories and 16 InnoHK research centres which are life and health-related, Hong Kong has world-class research and development (R&D) capability in life and health technology. Hong Kong is one of the world’s leading fundraising hubs for biotechnology companies, and our vibrant start-up scene was ranked first in Asia among the world’s top-100 emerging ecosystems according to the Global Startup Ecosystem Report 2024.
     
         To enhance the local I&T ecosystem, the Hong Kong Special Administrative Region Government has been actively promoting interactive development of the upstream, midstream and downstream sectors. To further promote upstream basic R&D, we will launch a $6 billion worth of subsidy programme to provide funding subsidies for local universities to set up cross-institutional and multidisciplinary life and health technology research institute(s) in Hong Kong. We have also earmarked $3 billion for the implementation of the Frontier Technology Research Support Scheme to accelerate cross-disciplinary researches in various frontier technology fields such as clinical medicine and health as well as gene and biotechnology spearheaded by the eight local UGC (University Grants Committee)-funded universities and renowned scholars from around the world.
     
         Furthermore, we have launched the $10 billion worth of Research, Academic and Industry Sectors One-plus Scheme (RAISe+) last year, to fund research teams from universities with good potential to become successful start-ups to transform and commercialise their outstanding R&D outcomes. Investors here with us today and around the world are welcome to collaborate with the universities in Hong Kong and invest in their RAISe+ projects.
     
         To promote downstream industry development, further to the $10 billion worth of New Industrialisation Acceleration Scheme launched last month, the Chief Executive has announced in his 2024 Policy Address last week to set up another $10-billion I&T Industry-Oriented Fund to form a fund-of-funds to channel more market capital to invest in specified emerging and future industries of strategic importance, including life and health technology. We will also redeploy $1.5 billion under the Innovation and Technology Venture Fund to set up funds jointly with the market, on a matching basis, investing in start-ups of strategic industries to further enhance Hong Kong’s start-up ecosystem. By pooling together government resources and market investment, we hope to provide greater momentum to our burgeoning life and health technology industry.
     
         By giving Hong Kong’s unique advantages full play, we are confident in pooling together global innovation resources to accelerate the development of life and health technology, constructing a more comprehensive and globally competitive I&T industry chain through concerted efforts. We envision a future where the technology seamlessly integrates with healthcare to improve quality of life for all. I look forward to many more collaborations with our neighbouring Asian cities on this front.
     
         Thank you and have a great day.

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: 229-2024: Australian Fumigation Accreditation Scheme: treatment provider ‘under review’, M/s Bureau Veritas (I) Pvt. Ltd. (AEI: IN0442MB)

    Source: Australia Government Statements – Agriculture

    24 October 2024

    Who does this notice affect?

    Stakeholders in the import and shipping industries—including vessel masters, freight forwarders, offshore treatment providers, Biosecurity Industry Participants, importers, customs brokers, principal agents and master consolidators.

    What has changed?

    Following the identification of biosecurity concerns, the department has listed M/s Bureau Veritas (I) Pvt. Ltd. (AEI: IN0442MB) as under review from the Australian…

    MIL OSI News –

  • MIL-OSI Australia: 230-2024: List of treatment providers: treatment provider suspended – Efes Group Loj.Ikl.Ilc.Gida Ve Hayv.San.Ti.Ltd.Instanbul Subesi (AEI: TR4040SB).

    Source: Australia Government Statements – Agriculture

    24 October 2024

    Who does this notice affect?

    Stakeholders in the import and shipping industries—including vessel masters, freight forwarders, offshore treatment providers, Biosecurity Industry Participants, importers, customs brokers, principal agents and master consolidators.

    What has changed?

    Following identification of critical non-compliance, we have suspended Efes Group Loj.Ikl.Ilc.Gida Ve Hayv.San.Ti.Ltd.Instanbul Subesi (AEI: TR4040SB) on the…

    MIL OSI News –

  • MIL-OSI Australia: RadComms 2024 – Melbourne

    Source: Australian Ministers 1

    Good morning,

    Thank you Chair, Nerida O’Loughlin (PSM) for your introduction and inviting me to speak.
     
    Good morning to all the Authority Members & hardworking staff of the ACMA, and the industry here today.
     
    Some of you may be aware that ACMA Deputy Chair, Creina Chapman, who has expertly held the position since 2018, is retiring and not seeking reappointment.
     
    Creina, over the past six years, you have made an outstanding contribution to the ACMA and Australia’s communications and media landscape.
     
    You have contributed to reforms that have made a real difference to connectivity and consumer safety. And you have always conducted yourself with kindness and compassion.
     
    Thank you for brining your intellect & integrity to this very important role. You have made this regulator stronger.
     
    I am pleased to be here for RadComms 2024, which is exploring the contribution of the digital economy and spectrum to a better-connected Australia.
     
    I acknowledge the Traditional Owners – the Wurundjeri people of the Kulin Nation. I pay respect to elders past and present.
     
    I extend this to First Nations people in attendance, including Associate Professor Lyndon Ormond-Parker, Co-Chair of the First Nations Digital Inclusion Advisory Group, established by the Albanese Government.
     
    Dr Ormond-Parker and Co-Chair, Dot West (OAM), have expertly led the Advisory Group, engaging many First Nations communities – indeed many of you in this room.
     
    The Advisory Group’s initial report to Government is the culmination of this.

    It has been insightful as to how – in partnership with First Nations peoples – we can support digital inclusion.
     
    Our Government is delivering on key recommendations of the report, including  free community Wi-Fi in around 20 remote communities, to provide better opportunities for education and training, employment and jobs, and improved access to essential services and information.
     
    We have also established a digital support hub and network of digital mentors, and improving the national collection of data on First Nations digital inclusion.
     
    It is wonderful to address RadComms for a second time as Communications Minister.
     
    The theme of this year’s event is: Supporting the present, empowering the future.
     
    It is an opportunity to explore how spectrum can deliver the applications and technologies that will shape our future.
     
    Telecommunications, technology, broadcasting and the media is evolving fast.
     
    Our connectedness and economic prosperity as a country hinges on how we best manage this transition.
     
    Managing radiofrequency spectrum, and regulating services in this fast-changing environment presents some challenges.
     
    But by mitigating risks, embracing technological change, and supporting business certainty, we can foster the opportunities.
     
    At RadComms 2022, I spoke about the importance of stability and predictability around radiofrequency spectrum management.
     
    We allocated close to $28 million to support the ACMA’s delivery of a modernised spectrum management system and a new auction capability.
     
    Building on the theme of stability and predictability, today I will discuss how the Albanese Government’s approach is supporting industry and consumers.
     
    Labor’s vision is for Australia to become the most connected continent on earth. And we can’t do this without the efficient use of spectrum.
     
    Spectrum licences across a number of highly important bands are due to expire from 2028 to 2032.  Industry needs sufficient time to plan and deploy communications services using that spectrum.
     
    It is the role of Government to provide clarity to licensees, and potential licensees, through our policy objectives.
     
    This is why I issued a Ministerial Policy Statement on Expiring Spectrum Licences to the ACMA in April.
     
    This aims to provide the ACMA with a strategic direction in reaching its decisions throughout the expiring spectrum licence process, and ensuring outcomes are in the long-term public interest.
     
    The Statement sets out the Albanese Government’s key communications policy objectives, including capacity for sustained investment and innovation.
     
    For improved connectivity and investment in regional, rural and remote areas.
     
    And the key objective of better services in the long-term interests of consumers.
     
    The Albanese Government’s $1.1 billion Better Connectivity Plan for Regional and Rural Australia has made significant inroads into improving mobile coverage across the country. 
     
    More efficient spectrum use is central to the significant upgrades we are delivering across the National Broadband Network: from fibre to fixed-wireless and Sky Muster.
     
    In addition to our $2.4 billion investment in fibre to 1.5 million more premises, we have invested $480 million to deliver better, faster fixed wireless broadband to regional communities.
     
    This, in turn, is improving the customer experience for those on Sky Muster, which is now unmetered thanks to the Albanese Government.
     
    We are delivering the quality communications infrastructure Australians rightly expect and deserve across the technology mix. And we are doing this on time and on budget.
     
    A further development that is making a positive impact is the increasing role that tower infrastructure operators are playing in bringing innovations to the market, like spectrum-sharing projects in regional areas.
     
    Investments by industry in the expanding peri-urban areas will help keep pace with ever growing community demand for mobile connectivity.
     
    Our Peri-Urban Mobile Program – PUMP – and reforms to new housing estate deployments, demonstrates how Government and industry can work together to deliver on community connectivity expectations.     
     
    But there are still areas, and communities, that experience poor, inadequate or even no mobile service. We know that mobile connectivity is not widely available in many First Nations communities, for example, or even on the outskirts of major regional towns.
     
    We have received this feedback from the First Nations Digital Inclusion Advisory Group and the Regional Telecommunications Independent Review Committee. I look forward to receiving the Committee’s final report to Government later this year.
     
    When we talk about connectivity, we are also talking about the quality of service.
     
    I am hearing from people living and working in rural and regional areas that while their device may display reception bars, congestion and capacity issues often translate into slow connections and limited capability beyond basic text and voice functionality.
     
    In other words, their smart phones and devices are anything but.
     
    The Ministerial guidance I provided to the ACMA regarding the management of expiring spectrum licences was purposefully broad in scope.
     
    It encourages the ACMA to develop a considered view on the use of alternative licensing conditions in its expiring spectrum licence process. For example: 

    • rollout or deployment commitments;
    • harnessing spectrum and infrastructure-sharing efficiencies; and
    • innovative approaches to connecting the perpetually under-connected – First Nations, regional and remote communities.

    Today’s digital, technological and market environment is starkly different to that of 15 years ago, when expiring licences were first issued.
     
    And it continues to evolve.
     
    The Ministerial Guidance to the ACMA is ambitious, and it forms part of our broader objective to set Australia up to become the most connected continent.
     
    As we work towards this future, we must also consider what lies ahead for television broadcasting.
     
    I am on the record & I reiterate it here – I believe in the broadcasting platform.

    A central goal of our media reform program is to support the important role of free-to-air television broadcasting in Australian society.
     
    This is demonstrated through the prominence framework the Albanese Labor Government legislated and our reforms to the anti-siphoning scheme.
     
    Free-to-air television services are integral to our media ecosystem: 

    • they are the conduits for Australian stories;
    • they are the trusted source of news to millions; and
    • they provide the sporting moments that define our national psyche. 

    But there is significant uncertainty as to what television broadcasting will look like in 10, or 20 years.
     
    What we can be sure of, is that it will not be what it is now.
     
    Audience and technology trends are clear. There is an ongoing shift from linear content consumption to on-demand.
     
    But – that does not mean a ‘lights out’ moment for broadcasting. We know most Australians are hybrid users, utilising on-demand services alongside linear consumption.
     
    And terrestrial and satellite broadcasting networks can do things that are still not possible in the online environment in terms of reliability and service provision.
     
    There is an essential and ongoing role for broadcasters in our media future, but broadcasting must change.
     
    A sustainable future for broadcasting will require changes to the way in which broadcasters operate and the way they reach their audiences.
     
    Choices will need to be made now if we are to realise that future.

    Free-to-air television broadcasting is entering a period of unmanaged transition.
     
    Consumer consumption preferences and falling revenue are – despite deep cost cutting initiatives – putting some broadcasters in a position where they can’t keep the doors open, for certain services.
     
    We saw this with the closure of Mildura Digital Television in July.
     
    If we stay on this unmanaged pathway, these trends will continue: more service closures in remote and regional markets, where the financial pressures are greatest. These pressures may eventually manifest in the larger cities.
     
    Allowing a sector that delivers so much to Australian consumers to grind to a halt, for services to blink out, is not in the interests of local communities.
     
    For consumers, it will mean less diversity and less choice. It will mean some consumers get left behind.
     
    For industry, it will be increasingly difficult to raise the capital needed for much needed business transformation.
     
    For Government, it will mean that the achievement of key public policy outcomes will be diminished: an informed citizenry; a strong and vibrant democracy; and engaged and cohesive local communities.
     
    But an unmanaged transition is not the only way forward.
     
    There is no going back to the golden era of television that existed before the internet, and nor should we want to.
     
    Consumers have never had so much choice.
     
    The reality is that commercial television broadcasting cannot continue in the manner it has done over the past decades.
     
    This is simply not sustainable.
     
    The way the industry uses radiofrequency spectrum needs to be examined.
     
    Industry has been making enhancements. Many broadcasters have made, or are making, the transition to MPEG-4 which improves the efficiency and quality of services.
     
    We have seen certain broadcasters make changes to their spectrum use that would have been unthinkable only a few years ago.
     
    In South Australia, WIN Television has consolidated the services of two networks onto one television multiplex in two regional markets.
     
    WIN has realised cost savings without eroding services available to audiences.
     
    This is a portent for the future.
     
    A sustainable television broadcasting sector will necessitate some form of spectrum and infrastructure consolidation, and changes in the way content is delivered. 
     
    Achieving an efficient consolidation will be challenging, but it is a goal that the Albanese Government is committed to.
     
    We are supporting the sector under the existing regulatory framework.
     
    We have introduced the Regional Broadcasting Continuity Bill 2024 to remove impediments that would otherwise prevent WIN, or any other broadcaster, from consolidating services onto a single multiplex and operating their transmitters more efficiently.
     
    This won’t, of itself, guarantee financial sustainability for broadcasters. But it is an important initiative to enable them to seek out efficiencies where they can.     
     
    Another way we’ve provided stability to the sector is with the passage of legislation in March this year to repeal the 30 June expiry date for community television licences in Melbourne and Adelaide.
     
    This means that these broadcasters will continue to remain on-air and provide valuable services until there is an alternative use for the radiofrequency spectrum.
     
    The Government has also moved to promote stability by ensuring continuity of the Viewer Access Satellite Television (VAST) service over the next seven years. VAST is essential to over 1.5 million Australians who rely on it – either directly or indirectly – to access free-to-air television in remote Australia or those in areas with poor terrestrial reception. 
     
    We have otherwise been undertaking an audit of remote and regional television infrastructure.
     
    We know transmission and reception equipment is at, or beyond, end-of-life in many remote and regional areas, including the VAST services in First Nations communities.
     
    This undermines the ability of people in those communities to access the information they need to make informed choices about their lives.
     
    Television broadcasters have been working very productively with officials from my department to quantify those infrastructure deficiencies and gaps, and I thank them and encourage them to continue to do so
     
    The information stemming from the audit will be a key input to future consideration of the need for capital renewal and maintenance to support the provision of television services in remote and regional areas.  
     
    While the initiatives and processes I have just described will support the sustainability of commercial television services, there is a broader conversation to be had around longer-term reforms.

    The acceleration of declining revenues, and the pressure the sector is facing, makes considerations around the future of television broadcasting pressing.
     
    But this work can’t be done in isolation.
     
    Industry and Government need a shared understanding of what the future of television is to help align our goals and the coordination of public policy.
     
    To that end – the Albanese Government will work closely with industry on a plan to secure the future of free-to-air television, to position it to continue to inform, educate and entertain Australians.
     
    Our Government is seeking to explore the possibility of realising a digital dividend: options for the more efficient use of spectrum and infrastructure for television, which enables potential reallocation of spectrum to other uses.
     
    The first step will be the development of a discussion paper to support engagement with interested parties on this important initiative, to be released for consultation in early 2025.
     
    Spectrum requirements for television will depend on an assessment of the optimal mix of delivery mechanisms in 5, 10, and 20 years. They need to consider the role and capabilities of broadband infrastructure. And they need to be grounded by a view of what television should look like in the medium-term.
     
    The Government will engage right across the ecosystem: with broadcasters, infrastructure providers, mobile network operators, and consumers to ensure a shared understanding of what television in Australia should look like in a decade, and what is needed to get there.
     
    We want commercial television broadcasters to be able to continue to deliver content that is highly valued by Australian’s. But there is work to be done to get us on the right path and to avoid a costly and disruptive contraction of the sector.  
     
    But let me be very clear here, about what I am announcing, and what I am not announcing.
     
    I am announcing that the Government will explore pathways for the future of television, shaped by the possibility of realising a digital dividend.
     
    In doing so, I am putting, front and centre, the important question of what the future of television may be – because the television broadcasting is an essential platform in Australia, and we need a mature and measured discussion to plan its future.
     
    I am not announcing that the Government has identified, or decided to yield, a digital dividend. We have not.
     
    And I am not announcing any details on the issues or options or pathways today.
     
    I am announcing that Government will commence the process of exploring these pathways, in consultation with industry, and that this will commence in earnest, with a discussion paper, early next year.
     
    The process will consider the role and capabilities of broadband infrastructure, acknowledging the significant and growing reliance on telecommunications networks for television and video streaming. And it will consider the role of spectrum pricing as the Government assesses the future spectrum needs of broadcasting.
     
    Taking a long-term view of the future of television broadcasting will provide greater certainty for consumers and industry, ensuring Australians have continued access to valued free-to-air content – with the diversity, choice and social cohesion benefits that it brings.
     
    As I mentioned, the future of television must also consider the role of broadband.
     
    There is already a significant reliance on telecommunications networks for television and video streaming, and this is only going to grow.
     
    All possible television futures will require careful consideration of technological innovation and investment choices to manage the load on networks from television viewing.
     
    Broadband rollout and availability is only part of the picture.
     
    We know that availability doesn’t equate to take-up, and that there will remain a cohort of Australians unable to utilise online infrastructure due to a lack of financial means, skills, or interest.
     
    This is also part of the reason why free-to-air broadcasting remains such a critical delivery platform, with significant impacts for social inclusion and community cohesion. 
     
    For this reason and many others, the Albanese Government is improving connectivity for all Australians.
     
    Our significant investment in the National Broadband Network, for example, is delivering high-speed broadband services to households and businesses across the country, with a significant focus on regional and rural communities.
     
    We are positioning Australia as a test-bed for new and emerging tech, such as using Low Earth Orbit Satellites to support voice services. Trials in this space are underway.
     
    Our Universal Service Reform will deliver a modern, fit-for-purpose universal service framework with sustainable, long-term funding of services in rural and remote areas.
     
    In closing, Labor is a reformist Government; we are not afraid to make big reforms in the long-term public interest, even if they are difficult ones.  
     
    Our future connectedness and prosperity as a country will hinge on how we collectively manage the communications and media transition going forward.
     
    We must work together to ensure that the services people rely on remain relevant, efficient and accessible for consumers.
     
    Everyone in this room has a key role to play in determining this future success.

    Our Government will support you to play that role.
     
    As we work towards our vision for Australia to be the most connected continent.
     
    Thank you.

    MIL OSI News –

  • MIL-OSI: Equinor third quarter 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Equinor (OSE: EQNR, NYSE: EQNR) delivered adjusted operating income* of USD 6.89 billion and USD 2.04 billion after tax in the third quarter of 2024. Equinor reported net operating income of USD 6.91 billion and net income at USD 2.29 billion. Adjusted net income* was USD 2.19 billion, leading to adjusted earnings per share* of USD 0.79.

    Financial and operational performance

    • Solid financial results
    • Effective execution of extensive turnaround programme
    • Strong cash flow from operations

    Strategic progress

    • All-time high production from the Troll field in the gas year
    • Northern Lights facility completed and ready to receive CO2
    • Acquired a 9.8 percent stake in Ørsted in October

    Capital distribution

    • Third quarter ordinary cash dividend of USD 0.35 per share, extraordinary cash dividend of USD 0.35 per share and fourth tranche of share buy-back of up to USD 1.6 billion
    • Total capital distribution for 2024 in line with announced level of around USD 14 billion

    Anders Opedal, President and CEO of Equinor ASA:

    “With solid operational performance and results, we are well on track to deliver strong cashflow from operations in line with what we said at the capital markets update in February.”

    “Over time, we have upgraded the capacity in the gas value chain. This has contributed to an all-time high production from the Troll field in the gas year. In the quarter, the Johan Sverdrup field delivered a production record of more than 756 000 barrels of oil in one day and reached the milestone of one billion barrels produced since the start-up five years ago. This strengthens our position to deliver safe and reliable energy to Europe.”

    “We continue to invest in renewables and develop low carbon value chains. In the quarter, the world’s first commercial storage facility, Northern Lights, was completed and is now ready to receive CO2 from customers.”

    Operational performance

    Equinor delivered a total equity production of 1,984 mboe per day in the third quarter, down from 2,007 mboe in the same quarter last year.

    On the Norwegian continental shelf (NCS), production increased by 2 percent compared to the third quarter 2023. This was due to high gas production from the Troll field and positive contributions from Aasta Hansteen and Oseberg. The increase was partially offset by extensive turnarounds, natural decline and reduced ownership in the Statfjord area.

    Internationally, new wells contributed positively to the production. However, the international production was negatively impacted by offshore turnarounds and hurricanes in the United States.

    In the quarter, Equinor completed nine offshore exploration wells with one commercial discovery. Four wells were ongoing at the quarter end. Two wells were expensed.

    Equinor produced 677 GWh from renewable assets in the third quarter, up 82 percent from the same quarter last year. The increase was driven by the addition of onshore power plants in 2024. The offshore wind parks Dudgeon, Sheringham Shoal and Arkona also contributed positively to the production.

    The progress at Dogger Bank A is slower than expected. Based on this, the expected growth in power production from renewable assets in 2024 is adjusted to around 50 percent.

    Strategic progress

    Equinor continued to optimise the portfolio through projects and strategic business development in the quarter.

    On the NCS, the Johan Castberg production vessel was securely anchored at the field in the Barents Sea and hook-up is on track for production start before year-end. In the quarter, Troll B and C became partly powered from shore, contributing to the company’s efforts to strengthen competitiveness and halve operated emissions by 2030.

    The recent acquisition of a 9.8 percent stake in Ørsted, gives Equinor exposure to premium offshore wind assets in operation and a solid project pipeline. In the quarter, Equinor also won an offshore wind lease in the U.S. Atlantic Ocean at an attractive price, adding optionality of around 2 gigawatt capacity to its existing portfolio. Furthermore, the company started recalibrating its portfolio of early phase renewable projects to reduce cost and focus business development toward core markets.

    Equinor continues to progress its low carbon solutions portfolio. The Northern Lights facility was completed on estimated time and budget. In the UK, two key partner-operated low-carbon solution projects secured funding from the government.

    Solid financial results

    Equinor delivered adjusted operating income* of USD 6.89 billion. USD 5.88 billion come from Exploration and Production Norway, USD 407 million from E&P International and USD 207 million from E&P USA. Marketing, Midstream & Processing delivered adjusted operating income* of USD 545 million, driven by LNG, power trading and geographical arbitrage for LPG. Adjusted operating income* from Renewables was negative USD 115 million, as the costs of project development exceeded the earnings from assets in operation.

    Cash flow from operating activities before taxes paid and working capital items amounted to USD 9.23 billion for the third quarter. Cash flow from operations after taxes paid* was USD 6.25 billion for the quarter, and USD 14.0 billion year to date.

    Equinor paid one NCS tax instalment of USD 2.87 billion in the quarter and total capital expenditures were USD 3.14 billion. Organic capital expenditure* was USD 3.08 billion for the quarter and USD 8.73 billion year to date. The organic capital expenditure* guiding for the year is adjusted to USD 12-13 billion. After taxes, capital distribution to shareholders and investments, net cash flow* ended at negative USD 3.42 billion in the third quarter. The Norwegian state’s share of the share buy-back programme of USD 4.02 billion in July impacted the net cash flow*.

    Adjusted net debt to capital employed ratio* was negative 2.0 percent at the end of the third quarter, compared to negative 3.4 percent at the end of the second quarter of 2024.

    Capital distribution

    The board of directors has decided an ordinary cash dividend of USD 0.35 per share and an extraordinary cash dividend of USD 0.35 per share for the third quarter of 2024. This is in line with communication at the capital markets update in February.

    The board has decided to initiate a fourth and final tranche of share buy-back for 2024 of up to USD 1.6 billion. The fourth tranche will commence on 25 October and end no later than 31 January 2025. This fourth tranche will complete the announced share buy-back programme of up to USD 6 billion for 2024. It will also conclude total capital distribution for 2024 of around USD 14 billion.

    The third tranche of the share buy-back programme was completed on 16 October 2024 with a total value of USD 1.6 billion.

    All share buy-back amounts include shares to be redeemed by the Norwegian state.

    —
    * For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures.
    —

    Further information from:

    Investor relations
    Bård Glad Pedersen, senior vice president Investor relations,
    +47 918 01 791 (mobile)

    Press
    Sissel Rinde, vice president Media relations,
    +47 412 60 584 (mobile)

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

    Attachments

    The MIL Network –

  • MIL-Evening Report: ‘We will not allow others to determine our fate’: Pacific nations dial up pressure on Australia’s fossil fuel exports

    Source: The Conversation (Au and NZ) – By Liam Moore, Lecturer in International Politics and Policy, James Cook University

    Tuvalu’s Prime Minister Feleti Teo took to a stage in Apia, Samoa, on Thursday morning to say something pointed. Planned fossil fuel expansions in nations such as Australia represented, for his nation, a “death sentence”. The phrase “death sentence”, Teo said, had not been chosen lightly. He followed up with this: “We will not sit quietly and allow others to determine our fate.”

    Teo chose the moment for this broadside well – on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM), attended by both King Charles and Australian Prime Minister Anthony Albanese. The speech came at the launch of a new report on moves by the “big three” Commonwealth states – the United Kingdom, Canada and Australia – to expand fossil fuel exports.

    These three states make up just 6% of the population of the Commonwealth’s 56 nations, but account for over 60% of the carbon emissions generated through extraction since 1990, the Fossil Fuel Non-Proliferation Treaty Initiative report shows.

    Canada and the UK are no climate angels, given their respective exports of highly polluting oil from oil sands and North Sea oil and gas. But Teo and others in the movement to stop proliferation of fossil fuels have reserved special criticism for Australia. That’s because Australia is now second only to Russia based on emissions from its fossil fuel exports and has the largest pipeline of coal export projects in the world – 61% of the world’s total.

    The elephant in the room

    Tuvalu, like many other small Pacific nations, is laser-focused on the threat of climate change. Across the Pacific, rising sea levels and saltwater intrusion are already pushing people to consider migration or retreat.

    Australia has long been influential in the Pacific, even more so as Western states try to outcompete Chinese funds and influence in the region. But fossil fuel exports are a very large elephant in the room.

    As Tuvalu’s leader points out, Australia is:

    morally obliged to ensure that whatever action it does [take] will not compromise the commitment it has provided in terms of climate impact.

    Teo pointed out the “obvious” inconsistency between Australia’s commitment to net zero by 2050 and ramping up fossil fuel exports.

    This year, Australia and Tuvalu’s groundbreaking Falepili Union treaty came into force. The treaty includes some migration rights for Tuvaluans as well as a controversial security agreement. But Teo has now flagged using this as leverage to “put pressure on Australia to align its activities in terms of fossil fuels”.

    Tuvalu’s diplomatic pressure is a small part of broader efforts by island states facing escalating climate damage to be seen not as passive victims but to emphasise, as Teo said, they are also “at the forefront of climate action”.

    Echoing these sentiments was Vanuatu’s climate envoy, Ralph Regenvanu. He called on Commonwealth nations to “not sacrifice the future of vulnerable nations for short-term gains”, and “to stop the expansion of fossil fuels in order to protect what we love and hold dear here in the Pacific”.

    Vanuatu and Tuvalu have led the campaign for a fossil fuel non-proliferation treaty, committing signatories to ending expansion of fossil fuels. So far, 12 other nations have joined, including Fiji, Solomon Islands, Tonga, Republic of Marshall Islands, Colombia and the CHOGM host, Samoa.

    Australia all alone?

    It’s not surprising to see Australia facing these calls for action. The meeting is being held in Samoa, the first time a Pacific Island state has hosted Commonwealth leaders.

    Leaders of other large Commonwealth states have skipped the meeting. Notable by their absence were Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa and Canadian Prime Minister Justin Trudeau.

    Climate action is one of several background issues in Apia. One of the more significant is the call for reparations for slavery from former British colonies – calls UK Prime Minister Keir Starmer is keen to put to the side. But reports on the ground suggest the issues of reparations, monarchy and the future relevance of the Commonwealth are all in the shadow of the main concern – climate change.

    The meeting also serves as a precursor to November’s United Nations climate talks, the COP29 conference in Baku, Azerbaijan. Pacific nations are focused on building consensus on climate finance.

    Australia has its own concerns. The host of the 2026 COP31 conference will be announced in Baku, with a joint Australia-Pacific bid in competition with Türkiye. Observers suggest Australia is in the box seat, but it has faced consistent pressure from Pacific states to reconcile its actions with its climate rhetoric.

    There are domestic implications too. As the next federal election looms, the lure of a potential A$200 million windfall for the COP host city would be more than welcome.

    Securing an Australia-Pacific COP could also boost the government’s environmental credentials as it comes under sustained attack from the Greens over fossil fuels and the Coalition over energy security and nuclear power.

    In Apia, Pacific efforts to convince leaders of the need for greater climate action are reported to include a walk through a mangrove reserve for King Charles, guided by Samoan chief and parliamentarian Lenatai Vicor Tamapua. Tamapua told the ABC he showed leaders how king tides today were “about twice what it was 20, 30 years ago”, which he says is forcing people to “move inwards, inland now”.

    For Australia, difficult questions remain. How will it balance regional demands to phase out coal and gas exports with domestic pressures to maintain jobs, public funds and economic growth? Can it walk the tightrope and be the partner of choice in the Pacific while continuing to explore for, extract and export coal and gas?

    These questions will not be resolved in Apia. They might not even be resolved by the next federal government, or by the time COP31 arrives. But they will not go away.

    The way Australia and other exporters resolve these tensions will, as Teo says, decide whether Tuvalu stays liveable – or goes under.

    Liam Moore 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. ‘We will not allow others to determine our fate’: Pacific nations dial up pressure on Australia’s fossil fuel exports – https://theconversation.com/we-will-not-allow-others-to-determine-our-fate-pacific-nations-dial-up-pressure-on-australias-fossil-fuel-exports-242103

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Travel times and congestion to be slashed with opening date set for Wilman Wadandi Highway

    Source: Australian Ministers 1

    Bunbury locals and thousands of commuters heading to Western Australia’s South West will get an early Christmas present this year with the Australian and Western Australian Governments today announcing the Wilman Wadandi Highway, previously known as Bunbury Outer Ring Road, will officially open to traffic on Monday, December 16.

    The new road will slash commute times to and from the South West by around 20 minutes depending on traffic conditions, while also diverting an average of around 15,000 vehicles from local Bunbury roads every day.

    Commuters travelling to and from the South West currently have to use a number of local roads in the Bunbury area, which have become significantly constrained in recent years with growing traffic volumes and increased housing development.

    The new road will separate freight and tourist traffic from local traffic, improving road safety, reducing congestion, and providing more efficient travel for motorists.

    The four-lane highway stretches 27 kilometres, connecting Forrest Highway north of Bunbury to Bussell Highway south of Bunbury. It includes five new bridges and four grade-separated interchanges, while commuters heading to and from the South West will now avoid 13 sets of traffic lights.

    The Wilman Wadandi Highway is the biggest road project ever delivered in the South West, becoming a major driver for economic stimulus and job creation in the region.

    More than $530 million in funding flowed to about 370 local businesses, while the project created about 4,500 jobs.

    Around $50 million has also been allocated to Aboriginal suppliers, and almost 200 local Aboriginal people received on-the-job training through the project’s award-winning Yaka Dandjoo program.

    While the main alignment will be open, some minor works will still be underway across a range of areas including on some local roads, landscaping, artwork, and minor tie-in works.

    In the lead up to the opening, Main Roads will host a number of community drop-in sessions across the South West region, where members of the community will be able to go and learn more about the new alignment and the different access routes that will be available upon opening.

    A community event will also be hosted the day before opening, which will provide residents in the region an opportunity to learn more about the new road and how it will change the way locals commute.

    Residents in the metro area that travel to and from the South West are encouraged to head to the Wilman Wadandi Highway project page on the Main Roads website to acquaint themselves with the new route before it opens.

    The Wilman Wadandi Highway has been jointly funded by the Australian and Western Australian Governments, underscoring a commitment to the long-term regional growth of the area.

    The Australian Government has committed $1.1 billion, while the WA Government has contributed $356.7 million to the $1.46 billion project.

    To find out the latest information on the project and upcoming drop-in sessions, please visit the project page on the Main Roads website. 

    Quotes attributed to Federal Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “We’re thrilled that the Wilman Wadandi Highway will soon be open to traffic, marking a significant milestone for this massive $1.46 billion project.

    “Our government is proud to be partnering with the Western Australian Government to deliver a project that not only reduces congestion and travel times but also boosts efficiency and network reliability, benefitting every road user across the region.

    “Beyond the road efficiencies, the highway will enhance connectivity for the region, providing economic opportunity and long-term regional growth for generations to come.”

    Quotes attributed to WA Transport Minister Rita Saffioti:

    “This project has been a game changer in terms of its economic impact for the region, and it will continue to drive incredible outcomes from December when thousands of vehicles will be diverted from local Bunbury roads.

    “Locals and anyone that drives to and from the South West know how congested the roads around Bunbury can get, but that will be a thing of the past when this highway opens.

    “This project represents the biggest change we’ve ever seen for the commute to and from the South West – with drivers looking at time savings of around 20 minutes, while they’ll now avoid 13 sets of traffic lights.

    “It’s a massive win for Bunbury locals, who for many years have had to compete with freight and tourist traffic and will now see thousands of vehicles removed from the local road network.”

    Quotes attributed to Federal Member for Perth Patrick Gorman:

    “The Wilman Wadandi Highway is a welcome investment connecting Perth to the South West. Delivering traffic improvement for motorists and a boost for local businesses, giving both groups a far more efficient transport link around Bunbury.

    “Our government is working closely with the WA Government to deliver meaningful projects like the Wilman Wadandi Highway. Ensuring local values, planning and investment come together to provide the best results for communities well into the future.”

    Quotes attributed to Senator for Western Australia Louise Pratt:

    “The Australian Government is pleased to partner with the Western Australian Government to deliver a highway that takes the pressure off Bunbury’s roads and provides a safer and more efficient transport link.

    “Apart from bringing the obvious improvements to traffic congestion, the Wilman Wadandi Highway will also smooth the way for economic stimulus and job creation in Western Australia’s South West region.”

    Quotes attributed to State Member for Bunbury Don Punch:

    “The Wilman Wadandi Highway is a critical piece of infrastructure that is and will continue to deliver enormous benefits to the local community, including more reliable, efficient and safer travel in the South West.

    “As our region continues to grow, the Wilman Wadandi Highway is essential to support future development, local jobs and business growth.”

    Quotes attributed to State Member for Collie-Preston Jodie Hanns:

    “The Wilman Wadandi Highway will make a real difference to the community in the South West, reducing travel times and improving road safety for everyone who lives and works here.

    “It has been great to see such an emphasis on local employment and Aboriginal engagement through the award-winning Yaka Dandjoo program, ensuring that the benefits of this project are widely felt across the community.”

    Quotes attributed to State Member for Murray-Wellington Robyn Clarke:

    “The Wilman Wadandi Highway will deliver a safer, more efficient transport route for the entire South West region, reducing the burden on our local roads, helping improve our road networks.

    “As someone who lives and travels in the South West, I know how much of a difference the Wilman Wadandi Highway will make in the region, and with road safety being such a critical priority, creating safer travel in the South West is a great outcome for locals.”

    MIL OSI News –

  • MIL-OSI: Dassault Systèmes: Third quarter results in-line – Anticipating top line acceleration in 4Q – Confirming full year EPS objective

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    VELIZY-VILLACOUBLAY, France — October 24, 2024

    Dassault Systèmes: Third quarter results in-line

    Anticipating top line acceleration in 4Q

    Confirming full year EPS objective

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the third quarter 2024 and nine months ended September 30, 2024. The Group’s Board of Directors approved these estimated results on October 23, 2024. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

    Summary Highlights1  

    (unaudited, non-IFRS unless otherwise noted,
    all growth rates in constant currencies)

    • 3Q24: total revenue rose 4% to €1.46 billion driven by subscription revenue up 8%;
    • 3Q24: sequential improvement of MEDIDATA revenue;
    • 3Q24: operating margin of 29.6% and EPS at €0.29, in line with guidance;
    • YTD24: IFRS cash flow from operations up 6% as reported;
    • FY24: confirming diluted EPS objectives of €1.27 – €1.30, while updating total revenue growth from 6 – 8% to 5 – 7% to reflect the continued scrutiny and contraction of the automotive market. Anticipating total revenue growth acceleration at 8% mid-point in 4Q24.

    Dassault Systèmes’ Chief Executive Officer Commentary

    Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

    “As we enter the second half of the year, we have seen several end-markets gaining momentum. In Life Sciences, MEDIDATA is back to sequential growth improvement. At the same time, we had excellent performance in Consumer industries driven by CENTRIC PLM. SOLIDWORKS accelerated growth in revenue and seats. Importantly, Aerospace & Defense was resilient and delivered a solid performance this quarter.

    However, since late summer, automotive customers in Europe and the US have been impacted by a contraction in volumes. This accelerates the need for transformative decisions, while elongating decision-making in the short term. Momentum in Asia, and China in particular, remains strong.

    We are well-positioned to continue gaining market share in the industrial sector. We are confident that our data-centric platform will serve as a catalyst for transformation. In the age of AI, virtualizing industrial processes from design to manufacturing will be a prerequisite for OEMs and suppliers to compete successfully in this next decade.”  

      

    Dassault Systèmes’ Chief Financial Officer Commentary

    (revenue, operating margin and diluted EPS growth rates in constant currencies,
    data on a non-IFRS basis)

    Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

    “In the third quarter, our total revenue grew by 4%, while the operating margin remained resilient at 29.6% and EPS stood at €0.29, highlighting the operating efficiency of the company.

    For the full year, we are reconfirming our EPS target range of €1.27 – €1.30 while remaining disciplined to offset the effects of ongoing deal delays and contraction in automotive volumes. Accordingly, we are adjusting our total revenue growth expectations from 6 – 8% to 5 – 7%.

    This updated guidance reflects expected growth acceleration in the fourth quarter, driven by continued improvements at MEDIDATA and a robust 3DEXPERIENCE pipeline.”

    Financial Summary

    In millions of Euros,
    except per share data and percentages    		   IFRS   IFRS
      Q3 2024 Q3 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,463.9 1,424.7 3% 4%   4,459.3 4,308.0 4% 4%
    Software Revenue   1,312.4 1,286.7 2% 3%   4,011.8 3,883.9 3% 4%
    Operating Margin   18.9% 21.2% (2.4)pts     19.6% 20.0% (0.3)pt  
    Diluted EPS   0.18 0.18 0%     0.61 0.54 12%  
    In millions of Euros,
    except per share data and percentages    		   Non-IFRS   Non-IFRS
      Q3 2024 Q3 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,463.9 1,424.7 3% 4%   4,459.3 4,308.0 4% 4%
    Software Revenue   1,312.4 1,286.7 2% 3%   4,011.8 3,883.9 3% 4%
    Operating Margin   29.6% 31.0% (1.5)pt     30.2% 31.0% (0.8)pt  
    Diluted EPS   0.29 0.28 3% 4%   0.89 0.84 6% 8%

    Third Quarter 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue in the third quarter grew by 4% to €1.46 billion, and software revenue increased by 3% to €1.31 billion, both at the low end of the Company’s objectives. Subscription & support revenue rose 5%; recurring revenue represented 83% of software revenue, up 2 percentage points compared to last year. Licenses and other software revenue declined by 7% to €229 million. Services revenue increased by 10% to €151 million, during the quarter.
    • Software Revenue by Geography: Revenue in the Americas increased by 6% to represent 41% of software revenue, led by Home & Lifestyle from an Industry standpoint. Europe (36% of software revenue) declined by 4%, largely impacted by a strong comparison basis after a large transformation deal signed in the third quarter of 2023. In Asia, revenue increased by 9% with continued momentum across countries led by improvement in China, up double digits. Asia represented 23% of software revenue at the end of the third quarter.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue declined by 1% to €685 million, against a high comparison basis. The strong baseline effect combined with a weaker automotive market in Europe and the US weighed on the performance. Industrial Innovation software represented 52% of software revenue, during the period.
      • Life Sciences software revenue was flat, at €280 million, accounting for 21% of software revenue. Sequential growth improvement confirms MEDIDATA progressive recovery.
      • Mainstream Innovation software revenue increased by 15% to €348 million and represented 26% of software revenue. SOLIDWORKS had a good start in the second half of 2024, up mid-single digits in the quarter. CENTRIC PLM delivered another excellent quarter, due to competitive displacements and strong renewals.
    • Software Revenue by Industry: Home & Lifestyle, High-Tech, Aerospace & Defense and Marine & Offshore were among the best performers during the quarter.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue was impacted by a tough comparison base due to the anniversary of a mega deal. Hence, we saw a temporary decline of 10%. However, the performance on a year-to-date basis was in line with objectives and, looking at the subscription growth, the trend was very strong at 41%. 3DEXPERIENCE software revenue represented 37% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue during the period. Excluding MEDIDATA, Cloud software revenue increased by a strong 38%.
    • Operating Income and Margin: IFRS operating income declined by 9% at €276 million, as reported. Non-IFRS operating income declined by 1% in constant currencies at €433 million (2% as reported). The IFRS operating margin stood at 18.9% compared to 21.2% in the third quarter of 2023. The non-IFRS operating margin totaled 29.6% versus 31.0% during the same period last year.
    • Earnings per Share: IFRS diluted EPS was €0.18, flat as reported. Non-IFRS diluted EPS grew to €0.29, up 3% as reported, or 4% in constant currencies.

    Nine months ended 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue grew by 4% to €4.46 billion. Software revenue increased by 4% to €4.01 billion. Subscription and support revenue rose 5% to €3.29 billion; recurring revenue represented 82% of total software revenue. Licenses and other software revenue declined by 1% to €720 million. Services revenue rose 6% to €448 million.
    • Software Revenue by Geography: The Americas grew 3% and represented 40% of software revenue. Europe rose by 2% and represented 37% of software revenue. Asia increased by 9%, representing 23% of software revenue.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue rose by 4% to €2.12 billion and represented 53% of software revenue. ENOVIA, SIMULIA and DELMIA exhibited the strongest performance.
      • Life Sciences software revenue decreased by 2% to €847 million, representing 21% of software revenue.
      • Mainstream Innovation software revenue increased by 11% to €1.05 billion. Mainstream Innovation represented 26% of software revenue. SOLIDWORKS delivered mid-single digit growth while CENTRIC PLM continued to perform well with strong, double-digit growth.
    • Software Revenue by Industry: Home & Lifestyle, Aerospace and Defense, High-Tech and Consumer Packaged Good & Retail displayed some of the strongest performance.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 10%, representing 37% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue. Excluding MEDIDATA, Cloud software revenue increased by more than 50% versus the same period last year.
    • Operating Income and Margin: IFRS operating income increased by 2%, to €876 million, as reported. Non-IFRS operating income increased by 1% as reported (2% in constant currencies) to €1.35 billion. IFRS operating margin totaled 19.6% compared to 20.0% for the same period in 2023. The non-IFRS operating margin was preserved, standing at 30.2% in the first nine months of 2024 compared to 31.0% in the same period last year, thanks to cost containment measures.
    • Earnings per Share: IFRS diluted EPS was €0.61 increasing 12% as reported. Non-IFRS diluted EPS grew by 6% to €0.89, as reported, up 8% in constant currencies.
    • Cash Flow from Operations (IFRS): Cash flow from operations totaled €1.35 billion, up 6% year over year, thanks to the increase in net income adjusted for non-cash items and positive cash tax effects in 2024.
    • Balance Sheet (IFRS): Dassault Systèmes’ net financial position totaled €1.07 billion as of September 30, 2024, an increase of €0.49 billion, compared to €0.58 billion for the year ending December 31, 2023. Cash and cash equivalents totaled €3.66 billion as of September 30, 2024. The movements of the quarter on cash and cash equivalents include the reimbursement for €700 million of the second Tranche of the Bond issued by the company in 2019.

    Financial Objectives for 2024

    Dassault Systèmes’ fourth quarter and 2024 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2024 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:

               
          Q4 2024 FY 2024  
      Total Revenue (billion) €1.696 – €1.816 €6.155 – €6.275  
      Growth 3 – 10% 3 – 5%  
      Growth ex FX 5 – 12% 5 – 7%  
               
      Software revenue growth * 5 – 13% 5 – 7%  
        Of which licenses and other software revenue growth * 0 – 20% (1) – 6%  
        Of which recurring revenue growth * 7 – 11% 6 – 7%  
     

    Services revenue growth *

    0 – 5%

    		 4 – 6%  
               
      Operating Margin 35.9% – 36.9% 31.8% – 32.2%  
               
      EPS Diluted €0.38 – €0.41 €1.27 – €1.30  
      Growth 4 – 12% 5 – 8%  
      Growth ex FX 5 – 13% 7 – 10%  
               
      US dollar $1.10 per Euro $1.09 per Euro  
      Japanese yen (before hedging) JPY 155.0 per Euro JPY 162.0 per Euro  
      * Growth in Constant Currencies      

    These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

    The 2024 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2024 principal currency exchange rates above: no significant contract liabilities write-downs; share-based compensation expenses, including related social charges, estimated at approximately €232 million (these estimates do not include any new stock option or share grants issued after September 30, 2024); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €360 million, largely impacted by the acquisition of MEDIDATA; and lease incentives of acquired companies at approximately €2 million.

    The above objectives also do not include any impact from other operating income and expenses, a net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after September 30, 2024.

    Corporate Announcements

    Today’s Webcast and Conference Call Information

    Today, Thursday, October 24, 2024, Dassault Systèmes will host, from London, a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

    Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

    Investor Relations Events

    • Fourth Quarter 2024 Earnings Release: February 4, 2025
    • First Quarter 2025 Earnings Release: April 24, 2025
    • Second Quarter 2025 Earnings Release: July 24, 2025

    Forward-looking Information

    Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

    The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2023 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2024, available on the Group’s website www.3ds.com.

    In particular, please refer to the risk factor “Uncertain Global Economic Environment” in section 1.9.1.1 of the 2023 Universal Registration Document set out below for ease of reference:

    “In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

    • the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or terminate their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
    • the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and impact Dassault Systèmes’ business, for example, due to stricter export compliance rules or the introduction of new customs tariffs;
    • continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
    • uncertainties regarding the extent and duration of inflation could adversely affect the financial position of Dassault Systèmes; and
    • the sales cycle of Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

    The occurrence of crises – health and political in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively impact Dassault Systèmes’ revenue, financial performance and market position.

    Dassault Systèmes makes every effort to take into consideration this uncertain macroeconomic outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

    In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the fourth quarter 2024. The Group has assumed an average US dollar to euro exchange rate of US$1.09 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY162.0 to €1.00, before hedging for the full year 2024. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.   

    Non-IFRS Financial Information

    Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2023 Universal Registration Document filed with the AMF on March 18, 2024.

    In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. We provide business and people with collaborative virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers can redefine the creation, production and life-cycle-management processes of their offer and thus have a meaningful impact to make the world more sustainable. The beauty of the Experience Economy is that it is a human-centered economy for the benefit of all – consumers, patients and citizens. Dassault Systèmes brings value to more than 350,000 customers of all sizes, in all industries, in more than 150 countries. For more information, visit www.3ds.com

    Dassault Systèmes Investor Relations Team                        FTI Consulting

    Beatrix Martinez: +33 1 61 62 40 73                                Arnaud de Cheffontaines: +33 1 47 03 69 48

                                                                    Jamie Ricketts : +44 20 3727 1600

    investors@3ds.com

    Dassault Systèmes Press Contacts

    Corporate / France        Arnaud MALHERBE        

    arnaud.malherbe@3ds.com        

    +33 (0)1 61 62 87 73

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

    APPENDIX TABLE OF CONTENTS

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.    

    Glossary of Definitions

    Non-IFRS Financial Information

    Acquisitions and Foreign Exchange Impact

    Condensed consolidated statements of income

    Condensed consolidated balance sheet

    Condensed consolidated cash flow statement

    IFRS – non-IFRS reconciliation

    DASSAULT SYSTÈMES – Glossary of Definitions

    Information in Constant Currencies

    Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

    While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation for comparing IFRS revenue figures as well non-IFRS revenue figures for comparable periods. All information at constant exchange rates is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

    Information on Growth excluding acquisitions (“organic growth”)

    In addition to financial indicators on the entire Group’s scope, Dassault Systèmes provides growth excluding acquisitions effect, also named organic growth. In order to do so, the data relating to the scope is restated excluding acquisitions, from the date of the transaction, over a period of 12 months.

    Information on Industrial Sectors

    The Group provides broad end-to-end software solutions and services: its platform-based virtual twin experiences combine modeling, simulation, data science and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

    These three sectors comprise twelve industries:

    • Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
    • Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, med practices, and Medtech;
    • Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

    Information on Product Lines

    The Group’s product lines financial reporting include the following financial information:

    • Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
    • Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
    • Mainstream Innovation software revenue which includes its CENTRIC PLM and 3DVIA brands, as well as its 3DEXPERIENCE WORKS family which includes the SOLIDWORKS brand.

    Starting from 2022, 3DS OUTSCALE became a brand of Dassault Systèmes. As the first sovereign and sustainable operator on the cloud, 3DS OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

    GEO’s

    Eleven GEOs are responsible for driving development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

    These GEOs are structured into three groups:

    • the “Americas” group, made of two GEO’s;
    • the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEO’s;
    • the “Asia” group, comprising Asia and Oceania and made of five GEO’s.  

    3DEXPERIENCE Software Contribution

    To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes uses the following ratio: for software revenue, the Group calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

    Cloud revenue

    Cloud revenues correspond to revenue generated through a catalog of cloud-based solutions, infrastructure as a service, cloud solution development and cloud managed services. They are delivered by Dassault Systèmes via a cloud infrastructure hosted by Dassault Systèmes, or by third party providers of cloud computing infrastructure services. These offerings are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscriptions models or perpetual licenses with support and hosting services.

    DASSAULT SYSTÈMES

    NON-IFRS FINANCIAL INFORMATION

    (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

    Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

    Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

    In millions of Euros, except per share data, percentages, headcount and exchange rates Non-IFRS reported
    Three months ended Nine months ended
    September 30,

    2024

    		 September 30,

    2023

    		 Change Change in constant currencies September 30,

    2024

    		 September 30,

    2023

    		 Change Change in constant currencies
    Total Revenue € 1,463.9 € 1,424.7 3% 4% € 4,459.3 € 4,308.0 4% 4%
                     
    Revenue breakdown by activity                
    Software revenue 1,312.4 1,286.7 2% 3% 4,011.8 3,883.9 3% 4%
    Of which licenses and other software revenue 229.5 246.0 (7)% (7)% 719.8 735.8 (2)% (1)%
    Of which subscription and support revenue 1,082.9 1,040.8 4% 5% 3,292.0 3,148.1 5% 5%
    Services revenue 151.5 138.0 10% 10% 447.6 424.1 6% 6%
                     
    Software revenue breakdown by product line                
    Industrial Innovation 684.6 698.8 (2)% (1)% 2,117.9 2,070.7 2% 4%
    Life Sciences 280.1 283.6 (1)% (0)% 846.6 863.8 (2)% (2)%
    Mainstream Innovation 347.7 304.2 14% 15% 1,047.4 949.5 10% 11%
                     
    Software Revenue breakdown by geography                
    Americas 540.6 513.6 5% 6% 1,619.7 1,575.2 3% 3%
    Europe 470.3 490.5 (4)% (4)% 1,465.4 1,426.3 3% 2%
    Asia 301.5 282.7 7% 9% 926.6 882.4 5% 9%
                     
    Operating income € 432.6 € 442.0 (2)%   € 1,347.0 € 1,335.7 1%  
    Operating margin 29.6% 31.0%     30.2% 31.0%    
                     
    Net income attributable to shareholders € 380.1 € 371.3 2%   € 1,174.4 € 1,110.7 6%  
    Diluted earnings per share € 0.29 € 0.28 3% 4% € 0.89 € 0.84 6% 8%
                     
    Closing headcount 25,996 25,377 2%   25,996 25,377 2%  
                     
    Average Rate USD per Euro 1.10 1.09 1%   1.09 1.08 0%  
    Average Rate JPY per Euro 163.95 157.25 4%   164.29 149.65 10%  

    DASSAULT SYSTÈMES

    ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

    (unaudited; in millions of Euros)

    In millions of Euros Non-IFRS reported o/w growth at constant rate and scope o/w change of scope impact at current year rate o/w FX impact on previous year figures
    September 30,

    2024

    		 September 30,

    2023

    		 Change
    Revenue QTD 1,463.9 1,424.7 39.2 49.8 1.3 (11.8)
    Revenue YTD 4,459.3 4,308.0 151.3 190.2 1.6 (40.4)

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (unaudited; in millions of Euros, except per share data and percentages)

    In millions of Euros, except per share data and percentages IFRS reported
    Three months ended Nine months ended
    September 30, September 30, September 30, September 30,
    2024 2023 2024 2023
    Licenses and other software revenue 229.5 246.0 719.8 735.8
    Subscription and Support revenue 1,082.9 1,040.8 3,292.0 3,148.1
    Software revenue 1,312.4 1,286.7 4,011.8 3,883.9
    Services revenue 151.5 138.0 447.6 424.1
    Total Revenue € 1,463.9 € 1,424.7 € 4,459.3 € 4,308.0
    Cost of software revenue (1) (127.6) (105.2) (364.4) (329.0)
    Cost of services revenue (125.3) (133.1) (385.0) (386.1)
    Research and development expenses (321.0) (299.2) (958.5) (910.8)
    Marketing and sales expenses (403.7) (381.0) (1,247.7) (1,195.2)
    General and administrative expenses (117.5) (103.2) (334.1) (325.9)
    Amortization of acquired intangible assets and of tangible assets revaluation (88.5) (93.4) (274.1) (284.0)
    Other operating income and expense, net (4.2) (7.1) (19.2) (16.7)
    Total Operating Expenses (1,187.7) (1,122.2) (3,583.1) (3,447.7)
    Operating Income € 276.2 € 302.5 € 876.2 € 860.3
    Financial income (loss), net 32.1 (4.3) 95.5 31.1
    Income before income taxes € 308.2 € 298.2 € 971.7 € 891.5
    Income tax expense (68.5) (54.9) (184.4) (171.5)
    Net Income € 239.8 € 243.3 € 787.2 € 719.9
    Non-controlling interest (0.0) 0.1 0.9 1.0
    Net Income attributable to equity holders of the parent € 239.7 € 243.5 € 788.2 € 720.9
    Basic earnings per share 0.18 0.18 0.60 0.55
    Diluted earnings per share € 0.18 € 0.18 € 0.61 € 0.54
    Basic weighted average shares outstanding (in millions) 1,313.3 1,316.1 1,313.4 1,315.2
    Diluted weighted average shares outstanding (in millions) 1,323.1 1,326.1 1,327.0 1,326.8

    (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.

    IFRS reported

     

    		 Three months ended September 30, 2024 Nine months ended September 30, 2024
    Change (2) Change in constant currencies Change (2) Change in constant currencies
    Total Revenue 3% 4% 4% 4%
    Revenue by activity        
    Software revenue 2% 3% 3% 4%
    Services revenue 10% 10% 6% 6%
    Software Revenue by product line        
    Industrial Innovation (2)% (1)% 2% 4%
    Life Sciences (1)% (0)% (2)% (2)%
    Mainstream Innovation 14% 15% 10% 11%
    Software Revenue by geography        
    Americas 5% 6% 3% 3%
    Europe (4)% (4)% 3% 2%
    Asia 7% 9% 5% 9%

    (2) Variation compared to the same period in the prior year.

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED BALANCE SHEET

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    September 30, December 31,
    2024 2023
    ASSETS    
    Cash and cash equivalents 3,657.7 3,568.3
    Trade accounts receivable, net 1,359.8 1,707.9
    Contract assets 45.1 26.8
    Other current assets 495.1 477.1
    Total current assets 5,557.7 5,780.1
    Property and equipment, net 946.2 882.8
    Goodwill and Intangible assets, net 7,301.4 7,647.0
    Other non-current assets 253.2 312.5
    Total non-current assets 8,500.7 8,842.3
    Total Assets € 14,058.4 € 14,622.5
    LIABILITIES    
    Trade accounts payable 181.2 230.5
    Contract liabilities 1,376.7 1,479.3
    Borrowings, current 548.8 950.1
    Other current liabilities 768.6 901.0
    Total current liabilities 2,875.4 3,561.0
    Borrowings, non-current 2,042.8 2,040.6
    Other non-current liabilities 1,137.7 1,174.8
    Total non-current liabilities 3,180.5 3,215.4
    Non-controlling interests 13.8 11.9
    Parent shareholders’ equity 7,988.7 7,834.1
    Total Liabilities € 14,058.4 € 14,622.5

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED CASH FLOW STATEMENT

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    Three months ended Nine months ended
    September 30, September 30, Change September 30, September 30, Change
    2024 2023 2024 2023
    Net income attributable to equity holders of the parent 239.7 243.5 (3.7) 788.2 720.9 67.3
    Non-controlling interest 0.0 (0.1) 0.1 (0.9) (1.0) 0.0
    Net income 239.8 243.3 (3.6) 787.2 719.9 67.3
    Depreciation of property and equipment 49.4 47.3 2.1 142.1 138.4 3.7
    Amortization of intangible assets 90.3 95.2 (5.0) 279.7 290.3 (10.6)
    Adjustments for other non-cash items 39.3 65.4 (26.1) 113.6 123.5 (10.0)
    Changes in working capital (201.1) (205.3) 4.2 25.2 (0.4) 25.6
    Net Cash From Operating Activities € 217.6 € 246.0 € (28.4) € 1,347.8 € 1,271.7 € 76.0
                 
    Additions to property, equipment and intangibles assets (36.5) (35.1) (1.4) (144.3) (102.8) (41.5)
    Payment for acquisition of businesses, net of cash acquired (2.6) (14.8) 12.2 (18.3) (15.6) (2.6)
    Other 0.7 4.5 (3.8) 23.9 (0.4) 24.2
    Net Cash Provided by (Used in) Investing Activities € (38.3) € (45.3) €7.0 € (138.7) € (118.8) € (19.9)
                 
    Proceeds from exercise of stock options 8.8 11.6 (2.7) 44.0 38.5 5.5
    Cash dividends paid – (0.0) 0.0 (302.7) (276.3) (26.4)
    Repurchase and sale of treasury stock (65.8) (218.6) 152.8 (373.5) (386.0) 12.5
    Capital increase (0.0) 0.0 (0.0) – 146.1 (146.1)
    Acquisition of non-controlling interests (0.7) 0.0 (0.7) (3.3) (0.8) (2.5)
    Proceeds from borrowings 300.0 (0.3) 300.3 300.0 20.3 279.7
    Repayment of borrowings (700.5) (0.9) (699.6) (700.7) (28.2) (672.5)
    Repayment of lease liabilities (18.7) (21.1) 2.4 (61.0) (63.0) 2.1
    Net Cash Provided by (Used in) Financing Activities € (476.9) € (229.4) € (247.5) € (1,097.1) € (549.4) €( 547.7)
                 
    Effect of exchange rate changes on cash and cash equivalents (76.2) 51.7 (127.9) (22.6) (4.4) (18.2)
                 
    Increase (decrease) in cash and cash equivalents € (373.8) €22.7 € (396.5) € 89.4 € 599.2 € (509.8)
                 
    Cash and cash equivalents at beginning of period € 4,031.5 € 3,345.4   € 3,568.3 € 2,769.0  
    Cash and cash equivalents at end of period € 3,657.7 € 3,368.1   € 3,657.7 € 3,368.1  

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Three months ended September 30, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 1,463.9 – € 1,463.9 € 1,424.7 – € 1,424.7 3% 3%
    Revenue breakdown by activity                
    Software revenue 1,312.4 – 1,312.4 1,286.7 – 1,286.7 2% 2%
    Licenses and other software revenue 229.5 – 229.5 246.0 – 246.0 (7)% (7)%
    Subscription and Support revenue 1,082.9 – 1,082.9 1,040.8 – 1,040.8 4% 4%
    Recurring portion of Software revenue 83%   83% 81%   81%    
    Services revenue 151.5 – 151.5 138.0 – 138.0 10% 10%
    Software Revenue breakdown by product line                
    Industrial Innovation 684.6 – 684.6 698.8 – 698.8 (2)% (2)%
    Life Sciences 280.1 – 280.1 283.6 – 283.6 (1)% (1)%
    Mainstream Innovation 347.7 – 347.7 304.2 – 304.2 14% 14%
    Software Revenue breakdown by geography                
    Americas 540.6 – 540.6 513.6 – 513.6 5% 5%
    Europe 470.3 – 470.3 490.5 – 490.5 (4)% (4)%
    Asia 301.5 – 301.5 282.7 – 282.7 7% 7%
    Total Operating Expenses € (1,187.7) € 156.5 € (1,031.2) € (1,122.2) € 139.5 € (982.7) 6% 5%
    Share-based compensation expense and related social charges (63.4) 63.4 – (38.4) 38.4 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (88.5) 88.5 – (93.4) 93.4 –    
    Lease incentives of acquired companies (0.4) 0.4 – (0.7) 0.7 –    
    Other operating income and expense, net (4.2) 4.2 – (7.1) 7.1 –    
    Operating Income € 276.2 € 156.5 € 432.6 € 302.5 € 139.5 € 442.0 (9)% (2)%
    Operating Margin 18.9%   29.6% 21.2%   31.0%    
    Financial income (loss), net 32.1 0.6 32.6 (4.3) 26.8 22.5 N/A 45%
    Income tax expense (68.5) (15.8) (84.3) (54.9) (38.1) (93.0) 25% (9)%
    Non-controlling interest (0.0) (0.9) (0.9) 0.1 (0.4) (0.3) (117)% 229%
    Net Income attributable to shareholders € 239.7 € 140.3 € 380.1 € 243.5 € 127.8 € 371.3 (2)% 2%
    Diluted Earnings Per Share (3) € 0.18 € 0.10 € 0.29 € 0.18 € 0.10 € 0.28 0% 3%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Three months ended September 30, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (252.9) 3.3 0.1 (249.5) (238.2) 2.1 0.2 (236.0) 6% 6%
    Research and development expenses (321.0) 20.4 0.2 (300.4) (299.2) 14.9 0.3 (284.1) 7% 6%
    Marketing and sales expenses (403.7) 18.9 0.0 (384.8) (381.0) 11.1 0.1 (369.8) 6% 4%
    General and administrative expenses (117.5) 20.8 0.0 (96.6) (103.2) 10.3 0.0 (92.9) 14% 4%
    Total   € 63.4 € 0.4     € 38.4 € 0.7      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,323.1 million diluted shares for Q3 2024 and 1,326.1 million diluted shares for Q3 2023, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 243.2 million for Q3 2024 (€ 243.5 million for Q3 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Nine months ended September 30, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 4,459.3   € 4,459.3 € 4,308.0 – € 4,308.0 4% 4%
    Revenue breakdown by activity                
    Software revenue 4,011.8   4,011.8 3,883.9 – 3,883.9 3% 3%
    Licenses and other software revenue 719.8 – 719.8 735.8 – 735.8 (2)% (2)%
    Subscription and Support revenue 3,292.0   3,292.0 3,148.1 – 3,148.1 5% 5%
    Recurring portion of Software revenue 82%   82% 81%   81%    
    Services revenue 447.6 – 447.6 424.1 – 424.1 6% 6%
    Software Revenue breakdown by product line                
    Industrial Innovation 2,117.9 – 2,117.9 2,070.7 – 2,070.7 2% 2%
    Life Sciences 846.6 – 846.6 863.8 – 863.8 (2)% (2)%
    Mainstream Innovation 1,047.4 – 1,047.4 949.5 – 949.5 10% 10%
    Software Revenue breakdown by geography                
    Americas 1,619.7   1,619.7 1,575.2 – 1,575.2 3% 3%
    Europe 1,465.4 – 1,465.4 1,426.3 – 1,426.3 3% 3%
    Asia 926.6 – 926.6 882.4 – 882.4 5% 5%
    Total Operating Expenses € (3,583.1) € 470.8 € (3,112.4) € (3,447.7) € 475.4 € (2,972.3) 4% 5%
    Share-based compensation expense and related social charges (175.9) 175.9 – (172.6) 172.6 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (274.1) 274.1 – (284.0) 284.0 –    
    Lease incentives of acquired companies (1.5) 1.5 – (2.1) 2.1 –    
    Other operating income and expense, net (19.2) 19.2 – (16.7) 16.7 –    
    Operating Income € 876.2 € 470.8 € 1,347.0 € 860.3 € 475.4 € 1,335.7 2% 1%
    Operating Margin 19.6%   30.2% 20.0%   31.0%    
    Financial income (loss), net 95.5 2.1 97.6 31.1 28.3 59.4 207% 64%
    Income tax expense (184.4) (83.8) (268.2) (171.5) (112.8) (284.3) 8% (6)%
    Non-controlling interest 0.9 (2.8) (1.9) 1.0 (1.2) (0.2) (3)% N/A
    Net Income attributable to shareholders € 788.2 € 386.2 € 1,174.4 € 720.9 € 389.7 € 1,110.7 9% 6%
    Diluted Earnings Per Share (3) € 0.61 € 0.28 € 0.89 € 0.54 € 0.29 € 0.84 12% 6%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Nine months ended September 30, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (749.4) 11.2 0.4 (737.8) (715.1) 12.1 0.6 (702.3) 5% 5%
    Research and development expenses (958.5) 58.7 0.7 (899.1) (910.8) 65.9 0.9 (844.0) 5% 7%
    Marketing and sales expenses (1,247.7) 55.7 0.2 (1,191.8) (1,195.2) 52.7 0.4 (1,142.2) 4% 4%
    General and administrative expenses (334.1) 50.3 0.1 (283.7) (325.9) 42.0 0.1 (283.8) 3% (0)%
    Total   € 175.9 € 1.5     € 172.6 € 2.1      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,327.0 million diluted shares for YTD 2024 and 1,326.8 million diluted shares for YTD 2023, and, for IFRS only, a diluted net income attributable to the shareholders of € 805.5 million for YTD 2024 (€ 720.9 million for YTD 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    1 IFRS figures for 3Q24: total revenue at €1.46 billion, operating margin of 18.9% and diluted EPS at €0.18; IFRS figures for YTD24: total revenue at €4.46 billion, operating margin of 19.6% and diluted EPS at €0.61.  

    Attachment

    The MIL Network –

  • MIL-OSI: WISeKey Launches its Enhanced INeS AI Security Broker Solution

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Launches its Enhanced INeS AI Security Broker Solution

    Geneva, Switzerland – October 24, 2024 – WISeKey International Holding (“WISeKey”, SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity digital identity and Internet of Things (IoT) innovations operating as a holding company, today announced the launch of the enhanced INeS AI Security Broker solution. This innovative upgrade integrates Artificial Intelligence (AI) with Public Key Infrastructure (PKI) technologies, revolutionizing how credentials are remotely and securely verified. The new solution manages the activation, deactivation, revocation, renewal, and secure update of IoT devices and business applications with end-to-end protection.

    As organizations increasingly incorporate AI-powered applications into their operations, the number of digital identities in circulation continues to rise, creating challenges not just in scale but also in security and management complexity. To address these evolving needs, WISeKey’s INeS AI Security Broker introduces a smarter, automated approach to managing digital certificates and identities across expanding IoT networks.

    Key Features of the INeS AI Security Broker:

    • Seamless Integration: Easily compatible with any IoT platform, the INeS AI Security Broker supports the secure issuance of digital certificates, lifecycle management, and rapid authentication for vast networks of devices.
    • AI-Powered Insights: The integration of machine learning enables automatic pattern recognition and anomaly detection from sensor data, such as temperature, pressure, humidity, and vibration, providing real-time insights and enhanced security.
    • Proactive Threat Management: AI-enhanced PKI solutions mitigate risks by automating security processes and preventing potential threats before they escalate. Predictive analytics allow organizations to pinpoint vulnerabilities and address misconfigurations swiftly.

    The surge in digital identities and devices places significant strain on traditional PKI systems, increasing operational burdens for system administrators. Any disruption or mismanagement in digital identity management could result in severe security risks and operational downtime. To counter these challenges, WISeKey’s AI-powered PKI solutions streamline processes, enabling organizations to efficiently manage their digital certificates while significantly reducing the risk of breaches and operational failures.

    Addressing Key Challenges in AI-PKI Integration:
    While the advantages of integrating AI with PKI systems are clear, adoption remains low due to the technical complexity of these domains. WISeKey seeks to bridge this gap through strategic partnerships, offering organizations access to tailored AI and PKI solutions that meet their specific security needs.

    As AI continues to transform the cybersecurity landscape, its role in managing and securing digital identities will become indispensable. The combination of PKI and AI will help organizations protect their digital assets, ensure compliance with evolving regulations, and maintain resilient digital infrastructures.

    Strategic Implications for the Future:
    The integration of AI into PKI not only enhances security but also builds trust by embracing cutting-edge approaches to digital identity management. WISeKey’s technology enables organizations to stay ahead of emerging threats, positioning them to manage the growing complexity of IoT networks while ensuring that their infrastructure is secure and compliant.

    WISeKey remains committed to advancing its technology platform and forming long-term relationships with strategic partners, enabling high-profile clients to leverage state-of-the-art solutions in cybersecurity, digital identity, AI, and IoT.

    For more information on the INeS AI Security Broker and WISeKey’s suite of cybersecurity solutions, visithttps://www.wisekey.com/device-identity-lifecycle-management/. .

    About WISeKey
    WISeKey is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.

    WISeKey’s work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey’s post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611 / lcati@equityny.com
    Katie Murphy
    Tel: +1 212 836-9612 / kmurphy@equityny.com

    The MIL Network –

  • MIL-OSI: EfTEN Real Estate Fund AS unaudited results for 3rd quarter and nine months of 2024

    Source: GlobeNewswire (MIL-OSI)

    The decrease in euro interest rates is quietly increasing transaction activity on the Baltic real estate market and has a positive effect on the financial results of EfTEN Real Estate Fund AS. Thus, in the third quarter of 2024, the fund’s consolidated interest expense decreased by more than 60 thousand euros compared to the previous quarter. From the transactions perspective, the third quarter was the most active in recent years – the Fund’s subsidiary EfTEN Tähesaju tee OÜ sold the Tähesaju Hortes property, and the fund established two new 100% subsidiaries to acquire the logistics centers Paemurru and Härgmäe respectively in Tallinn and Harjumaa. The acquisition cost of the two new properties will be almost 15 million euros upon their final completion. In the third quarter of this year, the construction work was completed and the ERM elderly care home was also opened next to Tartu.

    A further decline in interest rates is expected. This has already had a positive effect on listed share and bond prices of real estate sector companies on the Scandinavian stock exchange. In the wake of these developments, banks with Nordic owners operating in the Baltics are again looking more positively at financing the real estate sector. According to the fund manager, this creates a good basis for overcoming the decline of the past few years in the Baltic commercial real estate market. However, since local major real estate investors lack capital at the moment and there is no sign of foreign investors entering the local market, the recovery will not be quick. The market still remains a so-called buyer’s market, where it is possible to acquire high-quality property at a good price level. For this reason, the fund announced its intention to launch a new share issue in the fall of 2024, with the aim of raising additional equity of up to a maximum of EUR 30 million. At the extraordinary general meeting held on 16 October 2024, the shareholders granted the supervisory board and management the necessary authorizations to organize the share issue.

    Financial overview

    The consolidated sales revenue of EfTEN Real Estate Fund AS for the third quarter of 2024 was 8.006 million euros (2023 third quarter: 7.965 million euros). The consolidated sales revenue of EfTEN Real Estate Fund AS for the 9 months of 2024 was 23.924 million euros (2023: 23.714 million euros). The Group’s net rental income in the 9 months of 2024 was a total of 22.203 million euros (2023: 22.201 million euros). The group’s net profit in the same period was 10.104 million euros (2023: 6.880 million euros).

    The consolidated net rental income margin was 93% (2023: 94%) in the 9 months of 2024, so costs directly related to property management (including land tax, insurance, maintenance and improvement costs) and distribution costs constituted 7% (2023: 6%) of sales revenue.

    The volume of the Group’s assets as of 30.09.2024 was 377,723 million euros (31.12.2023: 380.944 million euros), of what the fair value of investment properties made up 96% (31.12.2023: 94%). 

    Investment portfolio

    As of the end of September 2024, the Group owns 34 (31 December 2023: 35) commercial investment properties, with a fair value of EUR 358.577 million as of the balance sheet date (31 December 2023: EUR 357.916 million) and an acquisition cost of EUR 356.156 million (31 December 2023: EUR 354.408 million). In addition, in September 2024, the Group entered into purchase agreements for the Härgmäe and Paemurru logistics centers, making advance payments under the agreements totaling EUR 2.173 million. After the balance sheet date, in October 2024, the Group’s subsidiary signed a real rights contract for the Härgmäe property, paying an additional EUR 8.3 million for the investment property on top of the previously made advance payment (a total of EUR 8.8 million).

    In September 2024, the Group sold the Tähesaju Hortese property for EUR 4.675 million.

    In addition to the investment properties held by the subsidiaries of the fund, the Group also holds a 50% stake in the joint venture that owns the Palace Hotel in Tallinn, with a fair value of EUR 8.543 million as of 30 September 2024 (31 December 2023: EUR 9.0 million).

    In the 9 months of 2024, the group earned a total of 23.043 million euros in rental income, which is 1% more than at the same time in 2023. Rental income increased the most in shopping centers. In the office segment, rental income decreased mainly due to the expiration of the lease agreement with the anchor tenant in the Menulio 11 office building in Vilnius.

    As of 30.09.2024, the vacancy of investment properties belonging to the Group was 3.2% (31.12.2023: 2.6%). The largest vacancy is in the office segment (13.1%), where it takes longer than before to fill vacant rental premises.

    Financing

    During the 9 months of 2024, the Fund’s subsidiaries EfTEN Autokeskus OÜ and EfTEN Jurkalne SIA extended their loan agreements. In the next 12 months, the loan agreements of two subsidiaries of the Group will expire, the balance of which as of 30.09.2024 is 8,025 thousand euros in total. The LTV of the expiring loan agreements is 28.3% and 46.5%, and both investment property have a stable rental cash flow, therefore, according to the management of the Group, there are no obstacles to the extension of the loan agreements.

    The weighted average interest rate of the Group’s loan agreements is 5.35% as of 30.09.2024 (31.12.2023: 5.91%) and the LTV (Loan to Value) is 41% (31.12.2023: 42%). All loan agreements of the Fund’s subsidiaries are linked to a floating interest rate.

    After the balance sheet date, in October 2024, the Group entered into two loan agreements related to the purchase of the Härgmäe logistics center, with a total amount of EUR 7.3 million. This includes a loan agreement for EUR 2.8 million with an interest rate of 2.5% + 6-month EURIBOR, maturing on 31 December 2024, and a loan agreement for EUR 4.5 million with an interest rate of 1.8% + 6-month EURIBOR, maturing on 27 September 2029.

    Information on shares

    The net value of the share of EfTEN Real Estate Fund AS as of 30.09.2024 was 20.15 euros (31.12.2023: 20.21 euros). The net value of the share of EfTEN Real Estate Fund AS decreased by 0.3% in the 9 months of 2024. In April 2024, the Fund paid dividends in the total amount of 10.82 million euros. Without profit distribution, the net value of EfTEN Real Estate AS shares would have increased by 4.6% during the nine months of the year.

    As of 30.09.2024, the Fund has 10,819,796 shares.

    CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

      III quarter 9 months
      2024 2023 2024 2023
    € thousands        
    Revenue 8,006 7,965 23,924 23,714
    Cost of services sold -473 -363 -1,232 -1,120
    Gross profit 7,533 7,602 22,692 22,594
             
    Marketing costs -111 -105 -489 -393
    General and administrative expenses -860 -841 -2,679 -2,568
    Profit / loss from the change in the fair value of investment property -415 0 -1,869 -6,182
    Other operating income and expense -41 10 45 23
    Operating profit 6,106 6,666 17,700 13,474
             
    Profit / loss from joint ventures 83 84 -171 -25
    Interest income 51 77 216 97
    Other finance income and expense -2,171 -2,156 -6,644 -5,693
    Profit before income tax 4,069 4,671 11,101 7,853
             
    Income tax expense -215 -236 -997 -973
    Net profit for the reporting period 3,854 4,435 10,104 6,880
    Total consolidated profit for the reporting period 3,854 4,435 10,104 6,880
    Earnings per share        
    – basic 0.36 0.41 0.93 0.64
    – diluted 0.36 0.41 0.93 0.64

    CONSOLIDATED STATEMENT OF FINANCIAL POSITION

      30.09.2024 31.12.2023
    € thousands    
    ASSETS    
    Cash and cash equivalents 10,637 14,712
    Current deposits 2,142 3,400
    Receivables and accrued income 1,603 2,360
    Prepaid expenses 200 106
    Total current assets 14,582 20,578
         
    Non-current receivables 355 214
    Shares in joint ventures 1,907 2,078
    Investment property 360,750 357,916
    Property, plant, and equipment 129 158
    Total non-current assets 363,141 360,366
    TOTAL ASSETS 377,723 380,944
         
    LIABILITIES AND EQUITY    
    Borrowings 13,809 16,907
    Payables and prepayments 3,110 3,417
    Total current liabilities 16,919 20,324
         
    Borrowings 132,094 130,849
    Other non-current liabilities 1,832 1,790
    Deferred income tax liability 8,896 9,283
    Total non-current liabilities 142,822 141,922
    Total liabilities 159,741 162,246
         
    Share capital 108,198 108,198
    Share premium 84,721 84,721
    Statutory reserve capital 2,799 2,749
    Retained earnings 22,264 23,030
    TOTAL EQUITY 217,982 218,698
    TOTAL LIABILITIES AND EQUITY 377,723 380,944

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

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Public Policies in Focus as APEC Pushes for Sustainable Finance Solutions Lima, Peru | 23 October 2024 APEC Finance Ministers’ Process

    Source: APEC – Asia Pacific Economic Cooperation

    The growing urgency to address climate change and environmental challenges has propelled sustainable finance into the spotlight as governments, businesses and investors increasingly prioritize sustainability considerations. This shift is transforming the financial landscape and driving capital toward projects that promote sustainability from renewable energy infrastructure to social impact initiatives.

    Against this backdrop, APEC Finance Ministers from across the APEC region convened in Lima on Sunday to discuss strategies for promoting low-carbon, climate-resilient economies. Representatives from international organizations, business leaders, and experts also offered their views on transition to a sustainable economy and the potential for investment it may bring.

    Opening the High-Level Event on Sustainable Finance: Public Policies in Action for Sustainable Development, José Arista Arbildo, Peru’s Minister of Economy and Finance, emphasized the importance of recognizing the interconnection between economic growth, environmental sustainability and social well-being.

    “We are facing unprecedented global environmental challenges such as climate change, biodiversity loss and natural resource scarcity,” Minister Arista said. “These challenges not only pose a threat to the environment, but also have significant implications for economic stability and the well-being of the populations of our economies.”

    Sustainable finance, a broad term that refers to investments aimed at generating both financial returns and positive environmental or social outcomes, has seen unprecedented growth. With the global economy increasingly focused on mitigating climate risks and achieving long-term sustainable development, financial institutions are responding by integrating sustainability criteria into their portfolios.

    “The strengthening of economic and financial systems is necessary to ensure their efficient adaptation to new paradigms that will make it possible to promote environmental, social and economic sustainability,” he added. “In this context, public policies are a transformative tool for integrating sustainability into the financial framework of our economies.”

    To successfully embed sustainability into the financial system, economies must embrace a strategic vision that shapes public policies promoting environmentally responsible practices.

    “Strategic planning for this integration is not only an ethical imperative, but also an economic necessity,” Minister Arista explained. “Providing a predictable framework for sustainable finance is one such policy.”

    During the panel discussion, experts called for holistic strategies that harmonize economic and financial activities to foster competitiveness and productivity. They stressed the importance of setting clear, long-term sustainability goals including the importance of governance frameworks and spaces for coordination; and fostering collaboration among stakeholders.

    The conversation also tackled the practical challenges member economies face in implementing sustainable financial practices. It further underscored the critical role of public-private partnerships in overcoming obstacles such as limited funding and regulatory barriers.

    APEC Business Advisory Council Chair, Julia Torreblanca, echoed the sentiment, highlighting the importance of business and public sector collaboration in driving sustainable development.

    “Sustainable finance is a joint endeavor where the private sector plays a critical role,” Torreblanca said. “However, it needs a policy environment that fosters innovation, facilitates sustainable investments and nurtures public-private collaboration.”

    According to experts, the transition to a sustainable economy presents significant investment opportunities despite the challenges. From renewable energy projects to sustainable agriculture, sectors aimed at reducing carbon emissions and promoting social equity are poised for growth. Experts also explored the potential for innovative economic instruments to support sustainability initiatives.

    One key takeaway from the event was the importance of fostering partnerships between governments, businesses and financial institutions. Such collaborations are seen as essential for creating innovative financial instruments and policies that will enhance the implementation of sustainable finance initiatives across the APEC region.

    “Being appropriately prepared to address emerging challenges and seize opportunities along the path to sustainable finance is essential,” Minister Arista concluded. “Public policies are thus a powerful tool that can guide us. If designed and implemented correctly, they can transform our economies and societies.”

    For further details, please contact:

    APEC Media at [email protected]

    MIL OSI Economics –

  • MIL-OSI Economics: Expanding automotive cyber security innovations with VERZEUSE(TM) series

    Source: Panasonic

    Headline: Expanding automotive cyber security innovations with VERZEUSE(TM) series

    Yokohama, Japan, October 24, 2024 – Panasonic Automotive Systems Co., Ltd. has further expanded its series of VERZEUSE , automotive cyber security innovations, to accommodate the security needs in each phase (design, implementation, evaluation, production, and operation) of the entire vehicle lifecycle, from the development to operation (after vehicle shipment).
    This expansion offers efficiency and high quality standardization for security measures throughout the entire vehicle lifecycle by introducing tools to automate cyber security work which has been often performed manually, and to link input and output information in each phase.VERZEUSE for Virtualization Extensions Type-3, a containerized virtualization security innovation to combat cyber attacks on in-vehicle software, has been evaluated highly by car manufacturers as a unique innovation, and has been newly adopted for in-vehicle deployment.
    This newly announced system in the VERZEUSE series will be exhibited at EdgeTech+ 2024*1 to be held from November 20 to 22, 2024.

    ＜Development background＞

    In recent years, the risk of security threats, including cyber attacks targeting cars, has constantly been on the rise alongside the evolution of software-defined vehicles (SDVs) whose functions are enhanced with software and the increase in the number of vehicles connected to networks, known as connected cars. In January 2021, UN Regulation UN-R155 has come into effect, and it has been applied to new vehicles*2 in Japan and Europe since July 2022. In order to comply with UN-R155, there is an urgent need to establish a cyber security system in accordance with ISO/SAE 21434.
    In this environment, the company foresees future demand for implementation of even more comprehensive security measures in each phase of vehicle lifecycle from development to shipment (design, implementation, evaluation, production, and operation) and streamlining of the enormous amount of work needed for vulnerability countermeasures.

    ＜VERZEUSE series features＞

    1. Provides solutions for each phase of the vehicle lifecycle from development to shipment (design, implementation, evaluation, production, and operation).Supports further streamlining and high quality standardization for security measures by linking input/output information in each phase.

    2. VERZEUSE for TARA(Threat Analysis and Risk Assessment): ISO/SAE 21434 compliant threat analysis innovations contributing to substantial reduction of workload by automating threat analysis in the development and design phase.

    3. VERZEUSE for Virtualization Extensions Type-3: Attack detection and protection solution adapting to container technology for in-vehicle software, adopted by car manufactures.

    ＜VERZEUSE series features in detail＞

    1. Provides solutions for each phase of the vehicle lifecycle from development to shipment (design, implementation, evaluation, production, and operation).Supports further streamlining and high quality standardization for security measures by linking input/output information in each phase.

    The VERZEUSE series provides innovative systems for each phase of the entire vehicle lifecycle (design, implementation, evaluation, production, and operation) from development to shipment. The input and output information of each phase can be linked through the Panasonic Group’s database of Threat Intelligence which collects threat information from various industries such as factory automation, home appliances, and IoT devices.
    For example, the analysis result information output from the design phase (1) VERZEUSE for TARA is referenced as input information in the evaluation phase (4) VERZEUSE for Threat Evaluation and Security Test Assistance toolkit and the post-shipment phase (6) VERZEUSE for SIRT. Likewise, the vulnerability assessment results output from the evaluation phase (4) VERZEUSE for Threat Evaluation and Security Test Assistance toolkit is referenced as input information in the post-shipment phase (5) VERZEUSE for SIRT.
    This linkage between phases not only further streamlines security measures, but also helps to consistently manage security information throughout the entire vehicle lifecycle and to maintain security risk management to a high standard.

    2. VERZEUSE for TARA: ISO/SAE 21434 compliant threat analysis innovations contributing to substantial reduction of workload by automating threat analysis in the development and design phase.

    During the early stages of vehicle development, even developers who are not security experts can simply answer a few questionnaires to determine countermeasure requirements based on the characteristics of in-vehicle devices from Panasonic Automotive Systems’ Threat Intelligence, which collates threats, vulnerabilities, and security controls.
    This innovative system has been applied to more than 80 of the company’s in-vehicle products. For example, compared to the conventional manual process of threat analysis, this system has been proven to reduce workload by up to 90%*3 for large-scale products such as navigation systems. Car manufacturers that have used the system have highly evaluated its usefulness, and we have been commissioned to provide multiple consulting projects for risk assessment. For details, please refer to the press release*4.

    3. VERZEUSE for Virtualization Extensions Type-3: Attack detection and protection solution adapting to container technology for in-vehicle software, adopted by car manufactures.

    This in-vehicle software innovation meets the security requirements*5 of next-generation cockpit systems that utilize a virtualization environment and monitors the communication between the software area which has a high risk of being targeted by attackers via the external network connection (e.g. externally connected virtual machine) and the software area which implements essential functions of the vehicle controls and software update functions (e.g., cluster containers). The monitoring function placed in an isolated container can check communications from the secure area to block abnormal communications, protecting critical functions of the vehicle from attacks and improving vehicle safety.
    It is also possible to import optional monitoring function as a plug-in via the security interface. The plug-in management function enables to select the appropriate monitoring function according to the characteristics of the communication. Since there is no need to change the application side when importing, this in-vehicle software can be introduced at low cost, and car manufacturers have decided to adopt it for in-vehicle deployment.

    Supplementary explanation

    VERZEUSE for Threat Evaluation and Security Test Assistance toolkit: Enabling high-quality, efficient security evaluation by users without security expertise.

    This innovative toolkit allows users to efficiently carry out high-quality threat evaluation and security testing, which previously has been often performed manually during the evaluation phase, even without security expertise.The procedures and standards for conducting various security evaluations, such as fuzz testing*10, vulnerability testing, and penetration testing*11, can be comprehensively defined with this toolkit. The defined procedures and standards can be flexibly customized according to evaluation items required for in-vehicle ECU development. In addition, its automated evaluation tool allows for efficient vulnerability assessment.

    *1 EdgeTech+ 2024 https://www.jasa.or.jp/expo/english/*2 In Japan, it applies only to vehicles supporting OTA (Over The Air: a process of updating and changing the software of devices such as smartphones and cars using wireless communication such as data communication).*3 When the company analyzed its navigation system (220 resources, 1250 threat scenarios, and 3230 countermeasure requirements), it reduced the workload from 30 to 3 person-months*4 October 24, 2024, Development of ISO/SAE 21434 compliant threat analysis innovations: VERZEUSE for TARA. https://news.panasonic.com/global/press/en241024-4*5 ST-CSP-18: Requirements Definitions Document for In-vehicle Security Functions Using Software Isolation Technology Ver.1.01 (JASPAR(Japan Automotive Software Platform and Architecture), 2023).*6 January 16, 2023, Virtualization Security Solution Developing VERZEUSE for Virtualization Extensions: Contributing to the Cybersecurity of Next-generation Cockpit Systems https://news.panasonic.com/global/press/en230116-2*7 December 11, 2023, Cyber Security Robustness Innovations, Developed VERZEUSE for Runtime Integrity Checker, Strengthen In-Vehicle Cyber Security Measures https://news.panasonic.com/global/press/en231211-2*8 March 23, 2021, Panasonic and McAfee agree to jointly start building Vehicle SOC for commercialization of Vehicle Security Monitoring Services https://news.panasonic.com/global/press/en210323-2*9 September 9, 2024, Development of Vulnerability Analysis Innovations, VERZEUSE for SIRT https://news.panasonic.com/global/press/en240909-4*10 Fuzzing test: A software testing technique that injects invalid, unexpected, or random data called fuzz into a target product or system to intentionally cause exceptions and detect potential bugs and vulnerabilities.*11 Penetration test: A testing technique that checks for vulnerabilities of computer system connected to a network with hacking attempts using known technologies. It is also called pentest or intrusion testing.

    About VERZEUSE
    Panasonic Automotive Systems Co., Ltd. markets VERZEUSE (https://automotive.panasonic.com/en/technology/cyber-security)*12 cybersecurity technology and services globally. Engineers at Panasonic Automotive Systems who worked together in the development of security technologies in various Panasonic Group products, including TVs, recorders, mobile phones, smartphones, payment terminals, and semiconductors, have turned their expertise toward developing cyber security technologies since 2014, drawing on their individual strengths to apply these technologies to automotive products. Panasonic Automotive Systems helps to ensure the safety and security of automated driving functions and network services to benefit society with technologies underpinned by a wealth of knowledge and experience.

    *12 VERZEUSE was coined by combining the Spanish word “ver” meaning “look” and the god Zeus. The name is meant to inspire the feeling of a protective god of the sky watching over the safety of society.

    Media Contact:

    Corporate Communications Office, Corporate Planning Center, Panasonic Automotive Systems Co., Ltd.e-mail: press-pas@ml.jp.panasonic.com

    MIL OSI Economics –

  • MIL-OSI Economics: Development of ISO/SAE 21434 compliant threat analysis innovations: VERZEUSE(TM) for TARA

    Source: Panasonic

    Headline: Development of ISO/SAE 21434 compliant threat analysis innovations: VERZEUSE(TM) for TARA

    Yokohama, Japan, October 24, 2024 – Panasonic Automotive Systems Co., Ltd. (“Panasonic Automotive Systems”) has developed VERZEUSE for TARA (Threat Analysis and Risk Assessment), an innovative ISO/SAE 21434-compliant threat analysis system that supports rapid development by automating the threat analysis necessary to protect vehicles from cyber-attacks during the early stages of vehicle development.It will be showcased at EdgeTech+ 2024*1 which will take place from November 20 to 22, 2024.
    VERZEUSE for TARA provides comprehensive analysis of cyber security risks for vehicles and in-vehicle devices in the early stages of development and efficiently derives ISO/SAE 21434 compliant threat analysis results. Even developers who are not security experts can simply answer a few questionnaires to determine countermeasure requirements based on the characteristics of in-vehicle devices from Panasonic Automotive Systems’ Threat Intelligence database, which collates threats, vulnerabilities, and security controls.
    This innovative system helps streamline the threat analysis process and has been applied to more than 80 of our company’s in-vehicle products. Compared to the conventional manual process of threat analysis, this system has been proven to reduce workload by up to 90%*2 for large-scale products such as navigation systems. Car manufacturers that have used the system have highly evaluated its usefulness, and we have been commissioned to provide multiple consulting projects for risk assessment.

    *1 EdgeTech+ 2024 https://www.jasa.or.jp/expo/english/*2 When our company analyzed the navigation system (220 assets, 1250 threat scenarios, and 3230 countermeasure requirements), the workload was reduced from 30 to 3 person-months by using this system.

    MIL OSI Economics –

  • MIL-OSI New Zealand: Tourism – Crown Princess Kicks Off 2024/2025 Cruise Season in Picton

    Source: Port Marlborough

    The Crown Princess arrived at Port Marlborough in Picton this week as the first cruise ship of the 2024/2025 season, marking the beginning of what is expected to be another strong season for cruise tourism in Marlborough.
    The ship’s arrival was celebrated with a formal ceremony, where Mayor Nadine Taylor and members of Port Marlborough’s Port & Marine team presented the ship’s captain with a locally made plaque and a gift of Marlborough wine. The plaque is specially designed and handcrafted in Picton from local timber with paua shell inlay, and the Marlborough wine was presented in a locally crafted box. Both gifts are specially chosen to represent the community’s involvement in creating a memorable visitor experience and to showcase the pride we take in sharing the best of Marlborough with our international guests.
    Cruise tourism plays a significant role in Marlborough’s economy, contributing around $500,000 to the local economy per day during each cruise visit. This season, we are expecting a steady flow of visitors, with the total number of ships set to match pre-pandemic levels, supporting local businesses and the wider community. 
    Port Marlborough’s ongoing investment in infrastructure has ensured we can continue to provide exceptional service to cruise lines. Recent improvements include a $50,000 upgrade to the passenger marshalling area for improved safety and efficiency, and a $120,000 investment in an additional gangway setup to enhance the passenger experience during peak times.
    Port Marlborough CEO Rhys Welbourn commented: “The Crown Princess’s maiden call visit is a wonderful way to open the season, and we are honoured to have welcomed the captain and crew to Picton for the first time. Our region is ready for another strong cruise season, with both local businesses and the wider community set to benefit. The economic impact of cruise tourism is undeniable, and it is great to see Marlborough once again thriving as a key destination.
    Environmental sustainability remains a key focus for Port Marlborough, and we are working closely with the cruise industry to balance economic benefits with environmental and community outcomes. This includes working with necessary agencies to ensure that all visiting ships adhere to the highest international maritime environmental standards.”
    Port Marlborough continues to invest in the region’s long-term infrastructure. Alongside cruise-specific improvements, the port has introduced a new $11.5m tugboat, Kaiana, to boost resilience and environmental efficiencies in the marine fleet. Other projects include sealing the remaining unsealed areas of the Shakespeare Bay log yard and installing a water truck for dust suppression, an investment aimed at improving environmental outcomes. Upgrades to the wharf fendering system on Waimahara Wharf, valued at $2 million, are also underway to enhance the port’s resilience and capacity.
    With 48 total berth side calls, including nine maiden visits scheduled for the season, Port Marlborough expects that despite the slight global downturn in Cruise tourism, Picton will maintain its position as a preferred destination for international cruise tourism.
    To enable this important regional trade, and its positive impact for local businesses and community, Port Marlborough is committed to delivering excellent customer service to cruise lines, supporting seamless logistics support, towage, pilotage through the Marlborough Sounds, berthing, and passenger disembarkation. The port also collaborates with shipping agents, tourism operators, New Zealand Customs Service, and MPI to ensure each visit runs smoothly, to support Marlborough’s reputation as a world-class cruise destination.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Charges – Indecent Acts – Nakara

    Source: Northern Territory Police and Fire Services

    Northern Territory Police have charged a youth in relation to indecent acts in Nakara overnight.

    Around 10pm, two female paramedics were called to assist a 14-year-old male youth on a street in Nakara.

    Whilst being conveyed in the back of an ambulance, the youth has allegedly indecently assaulted the paramedics before spitting in the vehicle.

    Police were immediately notified and attended Royal Darwin Hospital and arrested the youth. While being walked outside the hospital, the youth has allegedly damaged a medical vehicle, and while being conveyed to the watchhouse, has allegedly damaged electronic equipment within a police vehicle.

    During processing, the youth has allegedly spat in the direction of multiple police officers and has now been charged with:

    • 2 x Indecent Acts
    • 2 x Damage to property

    He was bailed to appear in court at a later date. 

    MIL OSI News –

  • MIL-OSI Asia-Pac: Leave measure to be monitored

    Source: Hong Kong Information Services

    The Government will closely monitor the implementation of a new policy giving civil servants who are parents three days of childcare leave per year and review it if necessary, Secretary for the Civil Service Ingrid Yeung said today.

    Ms Yeung made the remarks at a media session after she appeared on a radio programme to talk about initiatives related to the civil service in last week’s Policy Address.

    “We will review how this works out and see if there is room for improvement or whether it really affects our work seriously,” she said. “We cannot tell at the present moment as it is a new measure but we will review this after it has (been) implemented for some time.”

    Asked about the issue of civil service manpower, Ms Yeung said the Government is proceeding at full steam in its recruitment efforts but added that it must be careful in its deployment of manpower.

    “One of our measures, in fact this year in the Policy Address, is to see if technological solutions can be introduced to make better use of existing manpower, whether processes can be streamlined, whether priorities can be changed to make better use of existing manpower.”

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Sydney Airport hosts emergency exercise to test airport’s resilience

    Source: Sydney Airport

    Thursday 24 October 2024

    • Multi-agency emergency management exercise conducted at Sydney Airport
    • Emergency exercise tested the emergency response and flexibility of processes in the event of a major emergency
    • 11 agencies and 200 personnel participating in exercise including NSW Police Force and Fire and Rescue NSW

    Today, Sydney Airport hosted a multi-agency emergency management exercise scenario with 11 agencies and 200 personnel to test the response procedures as part of a simulated flight disaster scenario.

    More than six months’ in the planning, the emergency management exercise scenario involved an international flight on a Boeing 737-800 arriving from South-East Asia with 150 passengers on board which crashed on landing, resulting in numerous injuries and one fatality.

    Sydney Airport joined forces with representatives from NSW Police, Fire and Rescue NSW, NSW Ambulance, NSW Health, the NSW State Emergency Service (SES) and Airservices Australia to test their response plans in the event of a major emergency.

    The Agencies tested their responses and protocols around firefighting and evacuation, rescue and retrieval of trapped and injured passengers, triage and transport for injured passengers, and crash scene management and investigation.

    Sydney Airport CEO Scott Charlton said: “Air travel remains the safest way in the world to travel, and today’s exercise was about putting our response plans into practice, so we are ready in the unlikely event of an emergency.

    “These emergency scenarios provide an invaluable opportunity for our teams to coordinate with agencies and test our response plans in real-time.

    “I want to extend my thanks to all the agencies involved for their participation and collaboration. Together, we are ensuring that Sydney Airport remains safe, secure and well-prepared.”

    Assistant Commissioner Peter McKenna, Central Metropolitan Region NSW Police said: “The purpose of this training is not just to test our emergency response capabilities but the whole process and flow of the emergency plan in a real testing scenario. We use these experiences and skills from the exercise to work more collaboratively in a multi-agency environment and to achieve the operational goal.”

    Acting Area Commander Metro South Peter Cleary Fire and Rescue NSW said: “These types of exercises are vital to ensure our preparedness in the event of a real-life incident. By training side-by-side with our emergency services counterparts, we gain a better understanding of each other’s operating procedures, communications, and equipment in a realistic environment.”

    Sydney Airport hosts an emergency exercise every two-years to test the resilience of the airport’s emergency response plan in partnership with emergency agencies and organisations and is committed to providing a safe and secure environment for everyone.

    Images from today’s Emergency Exercise can be found here.

    Notes to editor

    Sydney Airport emergency scenario 2024:

    • Sydney Airport and emergency management agencies conducted an emergency management field exercise involving a simulated aircraft crash on the airfield
    • More than 200 personnel across multiple agencies tested their response plans
    • The scenario involved the crash landing of an international flight from South-East Asia flight (Boeing 737-800)
    • Under the scenario 150 passengers were on board the flight, 1 is deceased, 39 were transported to hospital and the remaining were treated onsite and released

    Participating agencies and organisations:

    • Sydney Airport
    • Australian Border Force 
    • NSW Police Force 
    • Airservices Australia – Aviation Rescue & Fire Fighting  
    • Fire & Rescue NSW 
    • NSW Ambulance 
    • Airservices Australia – Air Traffic Control 
    • Department of Agriculture
    • Transport for NSW
    • NSW Health
    • NSW State Emergency Service (SES)

    Agencies undertook the following emergency response:

    • Initial firefighting and evacuation  
    • Rescue and retrieval of trapped and injured persons 
    • Triage and transport of injured persons 
    • Initial crash scene management and investigation 

    MIL OSI News –

  • MIL-OSI Australia: 231-2024: Urgent Scheduled Service Disruption: Friday 25 October to Saturday 26 October 2024 – Biosecurity Portal

    Source: Australia Government Statements – Agriculture

    25 October 2024

    Who does this notice affect?

    Approved arrangements operators, customs brokers, importers, manned depots, and freight forwarders who will be required to book and manage requests for import inspections using the Biosecurity Portal during this scheduled maintenance window.

    Approved arrangements operators who will be required to view and/or update details of their Approved Arrangement via the Approve Arrangement Management Product (AAMP).

    Approved…

    MIL OSI News –

  • MIL-OSI Economics: Global Principles for Effective Border Adjustments

    Source: International Chamber of Commerce

    Headline: Global Principles for Effective Border Adjustments

    We use necessary cookies to make our site work. We’d also like to set optional cookies to optimize site functionality and to give you the most relevant experience. We won’t set optional cookies unless you enable them. Using this tool will set a cookie on your device to remember your preferences.

    The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.

    The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.

    The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.

    The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.

    MIL OSI Economics –

  • MIL-OSI Africa: Enhancing polio detection with advanced sequencing technology

    Source: Africa Press Organisation – English (2) – Report:

    BRAZZAVILLE, Congo (Republic of the), October 24, 2024/APO Group/ —

    The African region, declared free of indigenous wild poliovirus in August 2020, faces an urgent threat: the intense transmission of type 2 variant poliovirus (cVDPV2). This year alone, 290 poliovirus detections have been reported in 23 African countries.

    As countries ramp up vaccination efforts to protect children against the virus, one of the most critical components of the response is early and accurate detection. To enhance the effort, the World Health Organization Regional Office for Africa (WHO AFRO), together with the United States Centers for Disease Control and Prevention (US CDC) and the Gates Foundation, is focusing on equipping and training laboratories across Africa with an innovative advanced sanger sequencing technology, a crucial method in investigating new regions in the poliovirus genome.

    The poliovirus has a genome that is 7.5 kilobases long (a kilobase, or kb, is a unit of measurement used to describe the length of DNA). This genome has one main part that is used to create four proteins, named VP1 to VP4. The VP1 protein is important for how the virus attaches to cells and has been used to identify and track the spread of poliovirus.

    In 2024, WHO AFRO initiated targeted training on Advanced Sanger Sequencing training aimed at diversifying the diagnostic windows for polioviruses which will eventually reduce turn-around-time of poliovirus detection. These trainings are essential to equip lab personnel with the skills to operate advanced sequencing technologies and provide timely results for public health decision-makers.

    Sequencing allows laboratories to pinpoint genetic changes in poliovirus strains, providing critical data for tracking transmission pathways and understanding viral evolution. The technology offers a level of precision that helps identify mutations in real-time, making it possible to detect emerging threats swiftly. This technique has hitherto been limited to VP1 region of the gene but after this training laboratories will be able to use the entire five prime untranslated region and the remaining VP4/2 of the poliovirus gene.

    “Expanding our sequencing window to the other regions of the poliovirus, alongside the VP1 region, enhanced our ability to classify cases more accurately – bringing us one step closer to polio eradication”, says Irene Turyahabwe, participant from Uganda.

    “Advanced sequencing will not only open different diagnostic windows for efficient and rapid diagnosis but will also provide much needed evidence for the success of specific vaccination campaigns essential for ongoing polio eradication efforts. The data gathered through this technology informs decision-making, ensuring that the right public health interventions are deployed in time to prevent further spread of the virus” says Dr Jude Kfutwah, coordinator of the Regional Polio Laboratory Network at the WHO Regional Office for Africa. 

    South Africa hosted the first round of the training, where laboratory personnel received hands-on experience in Advanced Sanger Sequencing techniques. The training, under the umbrella of the Global Polio Eradication Initiative (GPEI), is part of a broader initiative to ensure that countries have the necessary capacity to detect polioviruses quickly and accurately, without delays that could hinder response efforts.

    Following South Africa’s success, WHO plans to expand the training to key countries across the continent. Algeria, Central African Republic and Madagascar are among the next in line, where national laboratories will benefit from this knowledge transfer. This regional expansion ensures that multiple countries are better prepared to contribute to Africa’s polio eradication journey.

    In addition, WHO is supporting 16 polio laboratories in the African region who are providing environmental surveillance support, testing for poliovirus in stool and wastewater samples to track geographic patterns of spread.

    With laboratories across Africa enhancing their capacity to process samples quickly, there is an added layer of regional cooperation that strengthens the entire surveillance network. This collaborative spirit is vital in eradicating polio once and for all.

    MIL OSI Africa –

  • MIL-OSI China: Bridge girder erection machine enhances railway construction in SW China

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

    Bridge girder erection machine enhances railway construction in SW China

    Updated: October 24, 2024 14:52 Xinhua

    Meet China’s bridge-building robot! A 900-tonne level bridge girder erection machine has been put into use to build a bridge of the Chongqing-Wanzhou high-speed railway in southwest China.

    MIL OSI China News –