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Category: Transport

  • MIL-OSI China: Foreign tourists flocking to Hainan

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

    The number of overseas visitors in Hainan province has been increasing thanks to the convenient immigration policies of the Hainan Free Trade Port, local authorities said.

    The entry and exit policies at the province are considered the most favorable in China, said Wang Haixing, director of the Haikou General Station of Exit and Entry Frontier Inspection, at a news conference on Thursday.

    In February, the National Immigration Administration implemented new policies to enhance visa-free entry opportunities for people from 59 countries who want to visit Hainan. In May, a 15-day visa-free entry policy took effect for foreign tour groups arriving in Hainan via cruise ships, and in July, visa-free entry for foreign tour groups entering the island province from Hong Kong or Macao was permitted for up to 144 hours.

    As of Thursday, 1.514 million inbound and outbound personnel have been inspected this year, up 278.5 percent year-on-year, according to the station.

    So far this year, 238,500 foreign tourists have entered Hainan visa-free, a 6.5-fold increase compared to last year, constituting over 80 percent of the total number of overseas visitors to the island.

    Wang said that visa exemptions have become the primary method for foreigners who want to visit Hainan, and they have facilitated the hosting of major international events such as the Boao Forum for Asia Annual Conference and the China International Consumer Products Expo.

    Luo Zhengyu, deputy director of the station, highlighted that the border inspection authorities have implemented a series of effective measures to ensure the smooth implementation of travel policies. For instance, the number of passenger inspection channels at all provincial airports has increased from 39 to 98, with the activation of 44 inbound and outbound express channels.

    “This expansion has significantly reduced passenger waiting times and improved customs clearance efficiency,” he said.

    Additionally, passengers from 59 nations who are eligible for visa-free entry in Hainan, as well as foreign tourist groups entering Hainan from Hong Kong or Macao visa-free for 144 hours, no longer have to fill out entry cards. Furthermore, passengers arriving by cruise ships are no longer required to provide fingerprint information.

    “We will introduce innovative measures to enhance the travel experience for Chinese and foreign individuals, further creating a more convenient and streamlined border inspection atmosphere,” Luo said.

    Two of Hainan’s major airports have launched 58 international passenger routes — 36 at Haikou’s airport and 22 at Sanya’s — connecting 31 cities in 18 countries and regions.

    This week alone, two international routes have been launched, and a third will open this weekend, bringing the total number of international flights to and from the island to 61 by the end of this month, according to Hainan Airport Group.

    On Tuesday, the route linking Taiyuan, Shanxi province, and Singapore via Sanya commenced operations. On Thursday, Haikou Meilan International Airport inaugurated its first route to the United States, offering service to Seattle, Washington. On Saturday morning, Boao International Airport will host the inaugural flight ceremony for the first international route from Qionghai to Kuala Lumpur, Malaysia.

    “For many foreign visitors, a trip to Hainan without plans has become a reality,” said Mai Weiwen, CEO of Hainan Wenhua Tourism Group. “Thanks to the increasing number of international flights being launched in Hainan, local travel agencies are seizing opportunities to expand their market by venturing abroad to overseas tourist source markets.”

    Russian expatriate Andreev Aleksei, a lecturer at Hainan University, is excited about the preferential visa-free policies.

    “I plan to invite my family members to Hainan due to the ease of travel without the need for visa applications,” he said, also highlighting the convenience of direct flights from Moscow to Haikou and Sanya, as well as from other international cities to Hainan, making travel to the tropical island more accessible for foreign visitors.

    MIL OSI China News –

    January 23, 2025
  • MIL-OSI China: CRRC unveils green hydrogen train tech at Berlin fair

    Source: China State Council Information Office 3

    People visit the booth of CRRC during the 2024 International Trade Fair for Transport Technology (InnoTrans 2024) in Berlin, Germany, Sept. 24, 2024. [Photo/Xinhua]

    China debuted its first hydrogen-powered intelligent intercity train, CINOVA H2, at InnoTrans 2024, a leading international trade fair for transport technology, held in Berlin on Tuesday.

    Developed by CRRC Qingdao Sifang Co Ltd, a Shandong province-based subsidiary of China Railway Rolling Stock Corp, the groundbreaking train runs on hydrogen power, achieving zero carbon emissions throughout its journey. It offers faster speeds, higher passenger capacity and an extended range, providing a new green solution for nonelectrified railway passenger transport.

    Hydrogen energy, widely considered one of the most promising clean energies of the 21st century, is a key focus in the green transformation of railway technology.

    Liang Caiguo, a senior designer at CRRC Qingdao Sifang, said CINOVA H2 uses hydrogen fuel cells to generate electricity via an electrochemical reaction between hydrogen and oxygen. The four-car train is equipped with high-power fuel cells capable of producing up to 960 kilowatts, enabling sustained speeds of 160 kilometers per hour and a top speed of 200 km/h.

    “The train boasts an ultra-long range of 1,200 kilometers at a cruising speed of 160 km/h, with full refueling taking just 15 minutes,” said Liang, adding that with its lightweight design and integrated saloon, CINOVA H2 can carry over 1,000 passengers, adding to its appeal as a high-capacity, eco-friendly transport solution.

    As a pioneering piece of green rail technology, CINOVA H2 is an “environmental champion”. Liang said that the hydrogen fuel cells produce only water as a byproduct, resulting in zero carbon emissions and no air pollutants throughout the entire journey.

    CRRC Qingdao Sifang estimates that each train, if operating 300,000 km annually, can reduce carbon dioxide emissions by approximately 730 metric tons per year, equivalent to 37.8 hectares of forests.

    Moreover, the new train employs innovative recycling technology to turn wastewater and waste heat into resources.

    Liang said that the water emitted from the hydrogen fuel cell reaction is purified and recycled to meet the onboard water needs for passenger services, thus effectively saving water. The waste heat from the cooling of the hydrogen fuel cells is recycled for heating during the winter, making it even greener and more environmentally friendly.

    CRRC Qingdao Sifang said the train’s energy consumption is very low, consuming less than 0.3 grams of hydrogen per passenger kilometer at a speed of 160 km/h when fully loaded.

    Not only is it environmentally friendly, but it is also highly intelligent. The train is equipped with an advanced Smart Care integrated intelligent operation and maintenance platform that enables intelligent fault diagnostics and maintenance decision-making functionality, enhancing operational reliability and reducing vehicle maintenance costs, said the company.

    It said passengers can enjoy advanced intelligent amenities such as hearing assistance systems, variable transmittance curtains, smart interactive windows, digital interactive screens and onboard Wi-Fi to create a more high-tech and intelligent travel experience.

    The hydrogen system of the train has undergone stringent safety tests in various scenarios and working conditions, with multiple safety protection systems, including intelligent detection and isolation protection, thus ensuring safety.

    Wang Xueliang, deputy director of the technology center of CRRC Qingdao Sifang, said: “CINOVA H2 can be used in nonelectrified railway areas, replacing traditional diesel-powered alternatives. It effectively reduces carbon dioxide and other air pollutant emissions, showcasing significant environmental benefits, and will strongly promote a new green upgrade for passenger transport equipment on nonelectrified railways.”

    MIL OSI China News –

    January 23, 2025
  • MIL-OSI New Zealand: Driving complaint parks alleged burglar in court

    Source: New Zealand Police (National News)

    What began as a road rage report, quickly took a turn into a man being charged with numerous burglaries.

    Armed Police made an approach on a vehicle outside a motel in Avondale after 3.10pm on Thursday.

    Auckland City West Area Commander, Inspector Alisse Robertson says the vehicle had been involved in a road rage incident a short time earlier.

    “Concerningly, it was reported a firearm was presented at the other party in this incident.

    “Our staff located this vehicle, approached it and arrested the driver.”

    No firearm was located. However, Inspector Robertson says a stack of property in the vehicle caught officers’ eyes.

    “Our Tactical Crime Unit assisted frontline staff with searching the vehicle, and trying to identify whose property it was.

    “There was a breakthrough in making contact with one victim, who had been burgled.”

    Police have established a number of homes had been burgled on the same street in Three Kings earlier in the day.

    Inspector Robertson says: “In one case, when Police called the victim they weren’t aware they had been burgled yet.

    “It was a fortunate phone call in that we could arrange for them to come to Avondale Police Station to get their belongings back on the same day.”

    As for the man in Police custody, he has since been charged.

    The 45-year-old man faces two charges of burglary, driving while disqualified, possession of drug utensils and vehicle conversion. 

    Inspector Robertson says Police are opposing the man’s bail at his appearance in the Auckland District Court.

    ENDS.

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

    January 23, 2025
  • MIL-OSI China: US chipmaking drive at risk with Intel’s mounting financial woes

    Source: China State Council Information Office 3

    Intel, once the biggest chipmaker in the United States by revenue, is facing mounting financial troubles that threaten to derail the U.S. government’s ambitious strategy to revitalize domestic chip manufacturing.

    Intel shares have taken a hard hit in recent months after the company reported a staggering net loss of 1.61 billion U.S. dollars in the second quarter and announced cutting about 15,000 jobs to save costs. This is viewed as an especially troubling sign when the company is expected to bolster the U.S. semiconductor workforce.

    Intel’s stock has plummeted by about a third since the release of its latest earnings report in August and nearly two-thirds this year.

    This fall has pushed Intel’s market value below 100 billion dollars for the first time in three decades, as the company struggled to compete with artificial intelligence (AI) chip designers while missing the growth opportunities from the AI-driven boom.

    Intel was reportedly considering a range of options to cut costs, including separating or selling its foundry business or building chips based on designs from other companies.

    The U.S. government bet big on Intel to boost domestic chip manufacturing. The company’s foundry business was viewed as crucial to achieving that goal.

    In a show of support, the U.S. Commerce Department announced in March that it would award Intel a nearly 20-billion-dollar incentive package, including 8.5 billion dollars in grants and 11 billion dollars in loans. This represents the largest award under the CHIPS and Science Act of 2022.

    The CHIPS Act, which allocated 39 billion dollars in grants to incentivize chip companies to build factories in the United States, aimed to reverse the decades-long shift of semiconductor production to Asia.

    According to the Commerce Department’s announcement in March, the government’s incentive was designed to support Intel’s efforts to produce cutting-edge semiconductors at large-scale plants in Arizona and Ohio. The money was also reported to help pay for research and development and advanced packaging projects at facilities in Oregon and New Mexico.

    Intel is currently constructing four chip factories in the United States, with two facilities each in Ohio and Arizona. The two factories in Licking County, Ohio, are part of a 20-billion-dollar project that could eventually accommodate up to eight factories and are expected to be completed in 2025.

    In Arizona, Intel is investing over 32 billion dollars to build two new leading-edge chip factories and modernize an existing facility at its Ocotillo campus, according to the company.

    Intel CEO Pat Gelsinger said earlier that building chip factories in the United States is economically uncompetitive compared with Asia, and he expected the government’s incentives to help redress that imbalance.

    However, despite these ambitious plans and the promise of government support, Intel has yet to receive any funds from the announced incentive package. Growing questions surround the timeline for Intel to access the nearly 20 billion dollars in CHIPS Act incentives, which are contingent on the company meeting specific milestones and requirements.

    According to a Bloomberg report this month, the Department of Commerce declined Intel’s request for funds, instead insisting that the company meet key milestones and conduct significant due diligence before it would consider releasing the money.

    The implications of Intel’s financial woes extended beyond U.S. borders. The company paused plans for new chip factories in Germany and Poland and delayed the opening of a new chip packaging plant in Malaysia following its dismal second-quarter financial results.

    Media reports suggest that Qualcomm had approached Intel to acquire parts of its business, though both companies declined to comment on the deal. Industry analysts, however, remained skeptical about the potential for such a deal to address the challenges facing U.S. chip manufacturing.

    Qualcomm, having never operated a chip factory before, may not be interested in buying Intel’s loss-making chip manufacturing unit, as it would be challenging to turn around or sell the unit, according to a Monday report by Reuters, citing industry analysts.

    MIL OSI China News –

    January 23, 2025
  • MIL-OSI China: Xinjiang sees upbeat foreign trade growth

    Source: China State Council Information Office 3

    A drone photo taken on May 25, 2024 shows freight trains waiting for departure at the Alataw Pass in northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]

    Northwest China’s Xinjiang Uygur Autonomous Region saw a yearly rise of 30.9 percent in foreign trade in the first eight months of this year, the local customs authorities said Thursday.

    The region’s total import and export volume in the January-August period reached 285.32 billion yuan (about 40.55 billion U.S. dollars), according to Urumqi Customs.

    Li Qinghua, deputy head of Urumqi Customs, highlighted that the remarkable foreign trade growth in Xinjiang can be partly attributed to the establishment of comprehensive bonded zones, which enhance logistics efficiency, as well as the successful expansion of international markets.

    Xinjiang’s trade with countries participating in the Belt and Road Initiative (BRI) rose by 28 percent year on year, accounting for 92.5 percent of the region’s total foreign trade value in the first eight months.

    Kazakhstan and Kyrgyzstan were the region’s major trading partners over this period.

    Private enterprises in Xinjiang showed a strong performance in foreign trade during the same period, with their trade value soaring 29.6 percent year on year, accounting for 92.5 percent of the region’s total.

    The region has exported more high value-added products, including electric passenger vehicles and lithium-ion batteries.

    Xinjiang is located at the heart of the Eurasian continent and serves as an important transportation hub in the core region of the Silk Road Economic Belt, an essential component of the BRI, which was proposed by China in 2013.

    MIL OSI China News –

    January 23, 2025
  • MIL-OSI China: SCIO Holds Press Conference on Providing Financial Support for High-quality Economic Development

    Source: Peoples Bank of China

    At the press conference held by the State Council Information Office (SCIO) at 9 a.m. on Tuesday, September 24, 2024, Pan Gongsheng, Governor of the People’s Bank of China (PBOC), Li Yunze, Minister of the National Financial Regulatory Administration (NFRA), and Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), briefed on the progress of providing financial support for high-quality economic development, and answered questions from the press. The transcript is as follows.

    Shou Xiaoli, Director-General of the Press Bureau of the SCIO and SCIO spokesperson: Good morning, ladies and gentlemen. Welcome to the SCIO press conference. Today we are glad to have PBOC Governor Pan Gongsheng, NFRA Minister Li Yunze, and CSRC Chairman Wu Qing at the conference. They will give introductions to their work on providing financial support for high-quality economic development and answer your questions. Now, I’ll give the floor to Mr. Pan Gongsheng.

    Pan Gongsheng, Governor of the PBOC: Thank you, Director-General Shou. Good morning, dear friends from the media! Glad to see you again. I want to thank you all for your long-standing attention and support regarding the financial sector reform and development and the work of the PBOC.

    Since the beginning of this year, the PBOC has been committed to the fundamental objective of providing financial services for the real economy, adhered to a supportive monetary policy stance and policy orientation, and made major monetary policy adjustments three times respectively in February, May, and July.

    In terms of the aggregates of monetary policy, the PBOC has adopted a variety of monetary policy tools, such as cutting the required reserve ratio (RRR) and policy rates, and bringing down the loan prime rate (LPR), to help create a favorable monetary and financial environment.

    Concerning the structure of monetary policy, the PBOC, with a focus on key links of high-quality development, has launched the central bank lending for sci-tech innovation and technological transformation in an effort to enhance financial support for sci-tech innovation and equipment upgrading and renovation. In addition, we have lowered the down payment ratio for housing mortgages, the mortgage rates, and the interest rates on personal housing provident fund loans. We have also set up the central bank lending facility for affordable housing to accelerate the destocking of housing inventory in a market-oriented manner.

    Regarding the transmission of monetary policy, we have improved the accounting method of the quarterly value-added of the financial sector, which has been adjusted from reckoning based on the growth of deposits and loans to an income-based approach. We have rectified the behavior of luring depositors with manual interest subsidy, reduced and prevented the idle circulation of funds within the financial system, activated existing financial resources that are inefficiently occupied, and enhanced the efficiency of fund use, thus improving the efficiency of monetary policy transmission.

    As for exchange rates, we let the market play a decisive role in the formation of exchange rates. We have maintained the flexibility of the exchange rate while strengthening guidance of expectations, and kept the RMB exchange rate basically stable at an adaptive and equilibrium level.

    The monetary policies have continuously delivered results. At end-August, the aggregate financing to the real economy (AFRE) registered a year-on-year growth of 8.1 percent, and RMB loans increased by 8.5 percent year on year, about 4 percentage points higher than the nominal GDP growth rate. Besides, financing costs were at historically low levels.

    In line with the decisions and arrangements made by the Communist Party of China (CPC) Central Committee and to further support stable economic growth, the PBOC will firmly adhere to a supportive monetary policy stance, intensify monetary policy adjustments, and implement more targeted adjustment measures, thereby fostering a favorable monetary and financial environment for the stable growth and high-quality development of the economy.

    At today’s press conference, I would like to announce several polices.

    The first is to lower the RRR and policy rates, and thus bring down the benchmark market rates. The second is to cut interest rates on existing home loans and unify the minimum down payment ratio. The third is to launch new monetary policy tools to support stable development of the stock market.

    First, we will cut the RRR and policy rates. We will lower the RRR by 0.5 percentage points, injecting approximately RMB1 trillion of long-term liquidity into the market in the days to come. We may further cut the RRR by 0.25 to 0.5 percentage points within the year, depending on liquidity conditions in the market. As for the central bank policy rates, we will lower the 7-day reverse repo rate by 0.2 percentage points from the current 1.7 percent to 1.5 percent. Meanwhile, we will bring down both the LPR and deposit rates, and thus keep net interest margins (NIMs) of commercial banks stable.

    Second, we will cut interest rates on existing home loans and unify the minimum down payment ratio for personal housing loans. To achieve that, we will guide commercial banks to lower the interest rate on existing home loans to a level close to that on newly issued loans, with an anticipated average decline of approximately 0.5 percentage points. We will unify the minimum down payment ratio for first- and second-home mortgages, with the nationwide minimum down payment ratio for second homes to be reduced from 25 percent to 15 percent. As for the RMB300 billion of central bank lending facility for affordable housing launched by the PBOC in May, the proportion of its funding support for banks and purchasing entities will be raised from the original 60 percent to 100 percent, so as to enhance market-oriented incentives for them. Together with the NFRA, we will extend the term of policies on commercial property loans and the “16-Point Plan”, which are set to expire by the end of this year, until the end of 2026.

    Third, we will launch new monetary policy tools to support stable development of the stock market. One is to establish a swap facility for securities, fund and insurance companies to support eligible institutions in obtaining liquidity from the central bank by pledging their assets. This facility will significantly enhance these institutions’ ability to raise funds and increase stock holdings. The other is to launch a special central bank lending to guide banks to provide loans to listed companies and their major shareholders for buying back shares and increasing stock holdings.

    For the above-mentioned policy measures, we will release policy documents or announcements item by item on the PBOC’s official website.

    This is my brief introduction. Next, I am glad to answer your questions together with Minister Li Yunze and Chairman Wu Qing. Thank you!

    CCTV: We know that so far this year, the PBOC has carried out three major adjustments of monetary policy. As Governor Pan just mentioned, there will be further reductions of the RRRs and the policy rates. People are widely concerned about the policies on aggregates as they will play an important role in stabilizing growth. So would you explain these policies in more detail? Thank you.

    Pan Gongsheng: Aggregates in monetary policy have been of great concern both to the public and in the market. As I have said on different occasions, the PBOC will adhere to a supportive monetary policy stance by stepping up monetary policy adjustments and enhancing their precision. We have used a mix of monetary policy tools to support stable growth of the real economy. While working on the adjustments to monetary policy tools, the PBOC has taken account of the following factors in particular. The first is to support the stable growth of the Chinese economy. The second is to push for a mild rebound in prices, an important factor to consider in developing monetary policy tools. The third is to strike a proper balance between providing support for the growth of the real economy and maintaining the soundness of the banking sector. The fourth has to do with the exchange rate, that is, to keep the RMB exchange rate basically stable at an adaptive and equilibrium level. In addition, we have attached importance to the coordination of monetary and fiscal policies so as to support the proactive fiscal policy playing its part more effectively.

    Regarding the specific adjustments to macro policies and the policies on monetary aggregates, which I talked about in my opening remarks, here are some more details.

    First, let’s look at RRR reductions. Having lowered the RRR by 0.5 percentage points this February, the PBOC is to carry out another RRR reduction of 0.5 percentage points, which will provide approximately RMB1 trillion of long-term liquidity to the financial market. Currently, the weighted average RRR for financial institutions stands at 7 percent. Following the adjustment, it will be lowered from 8.5 percent to 8 percent for large banks and from 6.5 percent to 6 percent for medium-sized banks, with the RRR for rural financial institutions remaining at 5 percent, which has been in place for some years. With the implementation of the RRR reduction policy, China’s average RRR for the banking sector will be around 6.6 percent, still having room compared with the central banks of the other major economies of the world. Since there are three months to go before the end of the year, it is likely we will further lower the RRR by 0.25-0.5 percentage points based on changing circumstances.

    Second, turning to policy rate cuts, in July, we lowered the 7-day reverse repo rate for open market operations (OMOs), the PBOC’s main policy rate, from 1.8 percent to 1.7 percent. This time, it will be reduced by 20 basis points from 1.7 percent to 1.5 percent. With the functioning of the market-oriented mechanism for interest rate regulation, the policy rate adjustment will lead to adjustments of benchmark market rates. As a result, the medium-term lending facility (MLF) rate is expected to go down by about 0.3 percentage points, while the LPR and deposit rates will decline by 0.2-0.25 percentage points.

    Overall, this interest rate adjustment will have a neutral influence on the NIMs of banks. Although cutting the interest rates on existing home loans will affect the interest revenue of banks, it will reduce the demand of customers for advance repayment of loans. An RRR cut by the central bank is equivalent to direct provision of low-cost, long-term funds for banks. MLF operations and OMOs are the main channels through which the PBOC provides commercial banks with short- and medium-term funds, so that interest rate cuts will also reduce the funding costs for banks. What’s more, as I mentioned just now, the LPR and deposit rates are also expected to see corresponding decreases. The re-pricing effect achieved through our previous efforts on guiding deposit rates downward via the self-regulatory mechanism for interest rates will materialize in a cumulative manner.

    In formulating the plan for the policy adjustment, the PBOC team has conducted several rounds of careful, quantitative analysis and assessment, which show this interest rate adjustment will have a neutral influence on bank profits and the NIMs of banks will remain basically stable. Thank you.

    Reuters: Despite the implementation of multiple policies aimed at attracting home buyers and alleviating the loan burdens of homeowners, housing prices in China continue to decline. In some cities, overall housing prices have experienced double-digit decreases. To this end, do China’s financial regulators believe that the time has come to introduce new monetary policies? Thank you.

    Pan Gongsheng: Thank you for your question. It’s a very good question and a prevalent concern of the society. We provide support in diminishing risks and fostering healthy development for the real estate market mainly from a financial standpoint, pursuant to our responsibilities. In recent years, the PBOC has refined macro-prudential financial policies for the real estate sector. We have adopted an integrated approach to address both the supply and demand. Key measures include reducing the minimum down payment ratio several times for personal housing loans, lowering lending rates, removing the policy floor for mortgage rates, and setting up a central bank lending facility for affordable housing to facilitate the purchase of existing residential properties. To implement the decisions and arrangements made by the CPC Central Committee on promoting the stable and sound development of the real estate market, the PBOC, in collaboration with the NFRA, is about to introduce five new policies regarding the real estate finance.

    The first policy is to encourage banks to reduce the interest rates on existing mortgage loans. In August last year, the PBOC urged commercial banks to implement these reductions in an orderly manner, yielding relatively positive results. Previously, mortgage loans were adjusted with reference to the LPR, with a uniform policy floor applied across the country. However, under the new mortgage policy launched on May 17 this year, the floor has been removed. As a result, the interest rates on new mortgage loans have been further reduced relative to the LPR. This significant decline has further widened the interest rate spreads between the new and the existing mortgage loans, particularly in major cities such as Beijing, Shanghai, Shenzhen, and Guangzhou. In this context, the PBOC will guide banks to conduct batch adjustments to the interest rate on existing mortgage loans, lowering it to a level close to the newly issued. We anticipate the average reduction to be approximately 0.5 percentage points. We use the term “average” because loans are issued during various time frames, and the interest rates on existing mortgage loans vary across issuing periods, regions, and banks. This is why I say the rate of decline is an average number.

    Banks reducing the interest rates on existing mortgage loans can significantly lower the interest expenses for borrowers. We anticipate that this policy will benefit approximately 50 million households and 150 million individuals, leading to an average annual decrease in interest expenses of around RMB150 billion for households. This reduction is expected to stimulate consumption and investment, while also contributing to the decrease in prepayment. Furthermore, it will help compress the space for illicit refinancing of existing mortgages, thereby safeguarding the legitimate rights and interests of financial consumers and contributing to the stable and healthy development of the real estate market.

    This document will be officially released soon. Given numerous borrowers involved, banks need some time to make necessary technical preparations. Moving forward, we are also considering guiding commercial banks to enhance the pricing mechanism for mortgage loans. This will allow both banks and customers to make dynamic adjustments through independent negotiations based on market-oriented principles.

    The second policy is that a minimum down payment ratio of 15 percent now applies to both first- and second-home loans. In order to better support the rigid demand for housing and the needs to improve living conditions of urban and rural residents, at the national level, second-home buyers will no longer be discriminated from first-home buyers when applying for residential housing loans, with the minimum down payment ratio of 15 percent applying to both types of buyers. On May 17, the minimum down payment ratio for first-home buyers was lowered to 15 percent, while that for second-home buyers stayed at 25 percent, and from now onwards, the two will share the same ratio of 15 percent. I would like to specifically mention two points. Firstly, the local authorities may adopt city-specific policies, independently choosing to differentiate or not the first- and second-home buyers, thus setting the minimum down payment ratio within their jurisdictions. Since China is a large country, the real estate markets of different cities and regions vary greatly, so local governments may adopt differential policies to determine the minimum down payment ratio within their jurisdictions based on the floor set at the national level. Secondly, commercial banks may negotiate the specific down payment ratio with their clients, according to the risk profile and willingness of the clients. Since 15 percent is the floor for the down payment ratio, commercial banks may ask for a higher down payment after evaluating the risk of the clients. Or the client may be wealthy enough to offer a 30 percent down payment on the house. It depends on the market-based negotiation between commercial banks and individuals.

    The third policy is to extend the period of two policy measures on real estate financing. Previously, the PBOC and NFRA launched together the “16-Point Plan” and policies on commercial property loans, which have played positive roles in promoting the stable and healthy development of the real estate market and in defusing risks in the market. Among them, some temporary measures, such as the rollover of outstanding loans of property developers and commercial property loans should expire on December 31, 2024, according to previous policy design. We have made the decision together with the NFRA this time to extend the two policies from December 31, 2024 to December 31, 2026.

    The fourth policy is to improve the central bank lending for affordable housing. On May 17, the PBOC launched the central bank lending for affordable housing with a size of RMB300 billion. We guided financial institutions to support local state-owned enterprises to purchase those completed yet unsold housing at a reasonable price based on market principles and the rule of law. The purchased properties shall then be resold or rented as affordable housing. It was an important measure to reduce the housing inventory. To further enhance market-based incentives for banks and the acquiring entities, we have increased the proportion of funds provided by the PBOC from 60 percent to 100 percent for the facility. For example, previously the PBOC was to provide RMB6 billion for a RMB10 billion loan granted by a commercial bank, whereas now the PBOC will provide low-cost funding in full amount, to speed up sales of commodity housing stock.

    The fifth policy is to support the purchase of property developers’ land inventory. Apart from spending the proceeds of some local government special bonds on buying the land reserves, we are studying on allowing policy banks and commercial banks to lend to qualified enterprises to acquire the land inventory of property developers based on market principles. It is to activate the inventory of land and ease financial strains of the property developers. When necessary, the PBOC may provide support through central bank lending. We are studying the policy together with the NFRA.

    Thank you!

    Market News International: Does the Federal Reserve’s 50 bps rate cut this month leave more room for further monetary policy easing in China? How does the PBOC evaluate the impact of the Fed’s rate cut on China’s foreign exchange market? Thank you.

    Pan Gongsheng: Thank you for your questions. Recently, major economies have adjusted their monetary policy stance. We can see that the depreciation pressure of RMB has significantly been alleviated, and RMB has turned to appreciation. On September 18, the Federal Reserve cut rates by 50 bps, which was the first cut after its rate hike in the past couple of years. Meanwhile, other central banks also kicked off their easing cycle. For example, the European Central Bank has lowered the rates twice since June this year by 50 bps in total. The Bank of England cut the bank rate by 25 bps in August. The Bank of Canada and the Sveriges Riksbank also turned to rate cut. Except for the Bank of Japan, most major economies have started to cut rates. The momentum of US dollar appreciation has weakened, with the US dollar Index retreated on the whole. Since the beginning of August, the US dollar Index fell by 3 percent, which is now hovering at around 101. With the convergence of domestic and overseas monetary policy cycles, the external pressure for the RMB exchange rate to remain basically stable has largely been reduced. On September 23, the RMB was trading roughly at 7.05 against the US dollar, appreciating 2.4 percent since August.

    Since the exchange rate is a relative value of one currency to another, it will be influenced by various factors, such as the economic growth, monetary policy, financial markets, geopolitics, unexpected risk events. All these factors may impact the exchange rate.

    From the external point of view, the external environment and the path of US dollar movement are still uncertain because of geopolitical movements like the diverging economic development of different countries and the US presidential election, as well as the volatile global financial market.

    Given the domestic developments, we believe there is a solid foundation for the RMB exchange rate to remain stable.

    First, from a macro perspective, the momentum of economic recovery will be further consolidated and strengthened. The strong monetary policies launched by the PBOC will help support the real economy, promote consumer spending, and boost market confidence.

    Second, the balance of payments remains broadly stable. In the first half of the year, the current account surplus was 1.1 percent of GDP, which remained within a reasonable range.

    Third, the PBOC and the State Administration of Foreign Exchange (SAFE) attach great importance to the development of the foreign exchange market. Market participants have become more mature, trading behaviors have been more rational, and market resilience has significantly improved. In the first half of this year, the proportion of import and export companies hedging exchange rate risks reached 27 percent, and the proportion of cross-border trade in goods settled in RMB registered 30 percent. These two figures do not overlap. Therefore, if we add the two figures, we can conclude that around 50 percent of companies are not that vulnerable to exchange rate risks in foreign trade. As the PBOC has communicated to the market on several occasions, in the context of two-way fluctuations in the RMB exchange rate, market participants should treat exchange rate volatility rationally, adopt the philosophy of risk neutrality, and refrain from “betting on exchange rate directions” or “betting on unilateral development”. Enterprises should focus on their main businesses, and financial institutions should continue to serve the real economy well.

    The PBOC’s stance on exchange rate policy is clear and transparent. The key points are as follows: first, we adhere to the decisive role of the market in exchange rate formation and maintain the elasticity of exchange rate; second, we need to strengthen expectation management to prevent the formation of a one-sided and self-fulfilling expectation in the foreign exchange market, guard against the risk of exchange rate overshooting, and keep the RMB exchange rate basically stable at an adaptive and equilibrium level.

    Thank you!

    CNBC Reporter: Analysts believe that the decline in Chinese government bond yields is partly due to market expectations of slower economic growth and an accommodative monetary policy stance. What is the PBOC’s response to this? What measures will be taken? Thank you.

    Pan Gongsheng: The discussion on this topic has cooled down recently, though there was a lot of hype earlier. The PBOC has communicated with the market in an appropriate manner for multiple times. The earlier decline in Chinese government bond yields was due to several factors. For instance, the PBOC guided market interest rates to move down through policy rates, and the .government bond issuance was relatively slow in the early period. Besides, small and medium-sized financial institutions lacked risk awareness and swarmed to the market, creating the effect of herd flock and exacerbating the situation. Driven by the market, China’s current long-term government bond yield hovers around 2.1 percent. The PBOC respects the role of the market. Undoubtedly, this has created a favorable monetary environment for China to implement proactive fiscal policy.

    However, it should be noted that interest rate risk is an important part of risk management of financial institutions. The case of Silicon Valley Bank in the United States is highly instructive as a risk event. As we are all aware, it reminds us that central banks need to observe and assess market risks from a macro-prudential management perspective and take appropriate measures to mitigate and prevent the accumulation of risks. This is an important mandate of central banks.

    Currently, as an important price signal, the government bond yield curve still has flaws such as insufficient long-end pricing and lack of stability. The PBOC has issued risk warnings regarding long-term government bond yields and has strengthened communication with the market to prevent the potential systemic risk of a one-sided decline in long-term government bond yields incurred by the effect of herd flock.

    Maintaining trading order in the bond market is also a mandate of central banks. Recently, the PBOC has identified violations in the bond market such as price manipulation, account lending, and tunneling. We will step up efforts to crack down on violations in the interbank bond market and keep the public updated on the developments. The National Association of Financial Market Institutional Investors (NAFMII) have already informed the public of several cases under investigation. Once the investigations are completed, we will make an announcement to the public.

    In recent years, as financial markets develop rapidly in China, the bond market have gradually expanded and deepened. The conditions for the central bank to purchase and sell government bonds as a way of injecting base money through the secondary market have been basically satisfied. I elaborated on our corresponding plan at the Lujiazui Forum on June 19. Currently, the PBOC has incorporated the purchasing and selling of government bonds into the monetary policy toolkit and begun to implement the instrument. Our operations are highly transparent, the information of which are available to the public on our official websites. We are also working with the Ministry of Finance to study on improving the issuance pace, maturity structure, and custody system of government bonds. The purchase and sale of government bonds by the PBOC in the secondary market will be progressive.

    Thank you!

    Financial News reporter: What are the main considerations for launching securities fund insurance swap facility and special central bank lending for listed companies and major shareholders to buy back shares and raise holdings? How will the PBOC conduct these operations? Thank you.

    Pan Gongsheng: Thank you for your questions. In order to maintain stability of China’s capital market and boost investor confidence, the PBOC, based on the international experiences and our own practices, has aligned with the CSRC and the NFRA and launched two structural monetary policy tools to support stable development of the capital market. This is also the first time that PBOC has innovated structural monetary policy tools to support the capital market.

    The first tool is a swap facility for securities, fund, and insurance companies. This facility supports eligible securities, fund and insurance companies, as determined by the CSRC and NFRA under specific regulations, in swapping their holdings of bonds, stock ETFs, and constituent stocks of the CSI 300 Index as collateral for high-liquidity assets like government bonds and central bank bills from the PBOC. Government bonds and central bank bills differ significantly from other assets held by market institutions in terms of credit rating and liquidity. Many assets held by institutions currently suffer from poor liquidity due to prevailing market conditions. By swapping these assets with the PBOC, market institutions can obtain higher-quality, more liquid assets, which will greatly improve their ability to raise funds and increase stock holdings. We plan to launch this swap facility at an initial scale of RMB500 billion, which may be expanded in the future based on market developments. As I said with Chairman Wu Qing, as long as the initial RMB500 billion works well, a second RMB500 billion could follow, and potentially even a third RMB500 billion. I believe this is possible, and our attitude remains open. The funds obtained under this facility can only be used for investing in the stock market.

    The second tool is central bank lending to support buybacks and holdings increase. This tool directs commercial banks to provide loans to listed companies and their major shareholders, specifically for buying back and raising holdings of the shares of the listed companies. In fact, it is a common practice in international capital markets for shareholders and listed companies to buy back shares and increase holdings. The PBOC will provide central bank lending to commercial banks in full amount, at an interest rate of 1.75 percent. The interest rate on loans provided by commercial banks to their customers is around 2.25 percent, which means a 0.5 percentage points increase. Given the current conditions, the 2.25 percent interest rate is also very low. The initial quota is RMB300 billion. If the tool works well, as I have discussed with Chairman Wu Qing, another RMB300 billion or even a third RMB300 billion could be provided. However, we need to assess the market conditions and make evaluations going forward. This tool is applicable to listed companies of different ownership, including state-owned enterprises, private enterprises, and mixed-ownership enterprises. We make no distinction between different ownership. The PBOC will closely cooperate with the CSRC and the NFRA, while cooperation from market institutions is also essential to successfully carry out this work.

    Thank you all!

    Shou Xiaoli: Thanks to our three speakers, and also thanks to our friends from the media for your participation. This is the end of today’s press conference.

    Date of last update Nov. 29 2018

    MIL OSI China News –

    January 23, 2025
  • MIL-OSI China: Projects worth over $52B inked at world manufacturing convention

    Source: China State Council Information Office

    A visitor takes photos of an Origin Wukong superconducting quantum computer model at the 2024 World Manufacturing Convention in Hefei, east China’s Anhui Province, Sept. 20, 2024. [Photo/Xinhua]

    A total of 718 projects with a combined investment of 369.2 billion yuan (about 52.48 billion U.S. dollars) were signed at the 2024 World Manufacturing Convention, according to a press conference on Thursday.

    Among these, 679 are manufacturing projects with an investment of 327.3 billion yuan, accounting for 95 percent of the total projects and 89 percent of the overall investment.

    The event, which concluded Monday in Hefei, the capital of east China’s Anhui Province, boasted a total exhibition area of 20,000 square meters. It attracted 451 exhibitors and showcased 2,605 products, 236 of which made their debut.

    For the first time, a large outdoor exhibition area was added, featuring intelligent connected new-energy vehicles, drones and humanoid robots.

    Notably, this year’s event marked the largest participation from countries and regions, as well as the highest number of foreign guests in its history, involving 41 countries and regions.

    MIL OSI China News –

    January 23, 2025
  • MIL-OSI Economics: Build4Skills: Practice Guide for Procurement Practitioners

    Source: Asia Development Bank

    Designed to complement the Build4Skills Handbook, it details how to select which projects could potentially incorporate trainee programs and provides templates for projects in the energy, transport, water, urban, and social sectors. Explaining how to calculate traineeship cost estimates to be included in the bill of quantities and manage related disbursements for projects, the guide shows how to monitor trainee programs and collect feedback to ensure infrastructure projects maximize their skills development potential.

    MIL OSI Economics –

    January 23, 2025
  • MIL-Evening Report: Australia’s air and tourism industries need government-backed insolvency insurance. Here’s why

    Source: The Conversation (Au and NZ) – By David Beirman, Adjunct Fellow Management & Tourism, University of Technology Sydney

    Australia has a long history of domestic airlines collapsing, often affecting thousands of travellers, yet the industry provides little or no recompense.

    Even the federal government’s recently released aviation discussion paper recognised the need for change by recommending important protections for passengers. These included making airlines honour refunds if flights were cancelled or significantly delayed.

    The 2024 Aviation White Paper included the most consumer friendly proposals in 30 years. However, there was one significant omission in the 156-page report.

    There was no mention of insolvency protection for airline passengers. To put it simply, if a domestic or international airline collapses there is little likelihood passengers who paid airfares will receive a refund.

    In most cases, passengers affected by airline collapses receive little or no compensation. Fewer than 20% of Australian domestic passengers pay for domestic travel insurance compared to the 90% of Australians who buy insurance when they fly internationally.

    A history of failed airlines

    Since 1990 we have seen the rise and fall of multiple Australian airlines. This includes Compass Mark 1, Compass Mark 2, Ansett Airlines, Impulse Air and Aussie Air.

    In May, Bonza collapsed after less than a year of operation. And more recently, services operated by REX (Regional Air Express) between capital cities stopped and its regional services are under pressure.

    Virgin and Qantas immediately volunteered to honour the inter-city bookings of some REX ticket holders. However, nearly all affected Bonza passengers lost their money because no other airlines flew the same routes.

    The risk of both domestic and international airline collapses affecting Australian travellers is real. Consumers are as entitled to be protected from that risk as they are from many other travel related risks.

    The UK and European approach

    The UK approach to insolvency insurance has worked well since 1973. The UK scheme is known as “ATOL” or Air Travel Operators Licence. It applies to package tour companies who sell air travel combined with land tours or accommodation

    This user-pays, government-guaranteed insurance cover is compulsory for all British travellers who book a package tour. It costs only A$5 per person. It guarantees a full refund and return flights to the passenger’s point of origin if the tour operator goes out of business.

    A similar scheme has operated in the European Union since 1990, its known as the European Package Travel Directive.

    As part of a 2024 book I co-edited with Bruce Prideaux, I focused on the collapse of the famous British tour operator, Thomas Cook in 2019.

    I also compared insolvency consumer protection in the UK with that of Australia and New Zealand.

    The Thomas Cook experience

    When Thomas Cook collapsed in the United Kingdom and Europe, 600,000 British and European Union passengers were fully refunded the cost of their tours and flown to their port of departure under their regions’ respective schemes. And the cost of their disrupted tours was refunded.

    Funding built into the UK scheme covered full refunds to affected passengers at negligible cost to government which guaranteed the scheme.

    By contrast, a far smaller collapse of two Australian based tour operators, Tempo Holidays and Bentours in September 2019 affected fewer than 1,000 passengers.

    However not all the affected travellers were refunded due to the limitations of the insolvency scheme run by what was then the Australian Federation of Travel Agents.

    Under this scheme travellers only receive insolvency protection if they pay by credit or debit card. There is a reliance on banks to refund if a tour operator becomes insolvent. If the passenger paid for their tour by cheque or cash, no refund applied.

    What Australia needs

    There are three key categories of business insolvency which affect travellers. The collapse of an airline, the collapse of a tour operator and the collapse of a travel agent.

    If the Australian government is genuinely interested in protecting travel consumers at minimal cost to the taxpayer we should be using the UK and European schemes as a model.

    A compulsory user-pays, government guaranteed insolvency protection scheme would cost the consumer very little and would be an ideal safety net for consumers in the event that their travel company goes bust.

    David Beirman is affiliated in an honorary basis with DFAT’s Consular Consulting Group, a stakeholder group which advises DFAT on government travel advisories and broader issues of tourism safety and security.

    – ref. Australia’s air and tourism industries need government-backed insolvency insurance. Here’s why – https://theconversation.com/australias-air-and-tourism-industries-need-government-backed-insolvency-insurance-heres-why-239060

    MIL OSI Analysis – EveningReport.nz –

    January 23, 2025
  • MIL-OSI Video: Secretary Blinken meets with Kenyan President William Ruto – 3:00 PM

    Source: United States of America – Department of State (video statements)

    Secretary of State Antony J. Blinken meets with Kenyan President William Ruto in New York City, New York, on September 26, 2024.

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at http://www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
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    Subscribe to the State Department Blog: https://www.state.gov/blogs
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    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=hrD2fOy9GvA

    MIL OSI Video –

    January 22, 2025
  • MIL-OSI Africa: National Basketball Association (NBA) Africa Announces Four Prize-Winning Companies at First Startup Accelerator Demo Day

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

    NEW YORK, United States of America, September 26, 2024/APO Group/ —

    Festival Coins (Nigeria), Salubata (Nigeria), HustleSasa (Kenya) and UBR VR (Egypt) Win Top Prizes, including Financial Support and Mentorship; Paystack Payments Ltd., Kuramo Capital Management and Nigerian University of Technology and Management Join Demo Day as NBA Africa Triple-Double Accelerator’s First Official Partners (www.NBA.com).

    NBA Deputy Commissioner and Chief Operating Officer Mark Tatum today announced the four prize-winning startup businesses from “NBA Africa Triple-Double Accelerator” (http://apo-opa.co/3ZLmNoC), which NBA Africa launched in April 2024 to support the continent’s technology ecosystem and the next generation of African entrepreneurs.  The four winning businesses – Festival Coins (Nigeria), Salubata (Nigeria), HustleSasa (Kenya) and UBR VR (Egypt) – will be awarded financial support and mentorship, including an opportunity to participate in workshops and development programs facilitated by NBA Africa or its partners. 

    The 10 finalists, shortlisted from more than 700 early-stage African startup businesses that applied to participate, pitched their products to a panel of international industry leaders at a Demo Day at the NBA headquarters in New York City yesterday. The judges included Accelerate Africa Co-Founder and CEO Iyinoluwa Aboyeji; NBA Assistant General Counsel, Technology, Software Licensing and Digital Platforms Franciscus Diaba; Managing Director, Centre for the Fourth Industrial Revolution Rwanda Crystal Rugege; Chegg Inc. Executive Chairman Dan Rosensweig; and Partner at Development Partners International Joanne Yoo.  NBA Commissioner Adam Silver also delivered opening remarks and met the 10 finalists.

    Below are the four winning businesses:

    1. Festival Coins (Nigeria), an event technology company that offers a customizable, no-code event registration and ticketing platform called Tix Africa for events in Nigeria and Ghana, won the first-place prize and $50,000. 
    2. Salubata (Nigeria), a company that creates modular shoes repurposed from plastic waste to reduce the global carbon footprint through its environmentally friendly products, won the second-place prize and $40,000. 
    3. HustleSasa (Kenya), which provides live event services that support payment processing, attendee check-in, merchandise sales, customer data management, influencer tracking, and more, won the third-place prize and $30,000.
    4. UBR VR (Egypt), which delivers state-of-the-art, fully immersive, in-person virtual reality (VR) experiences across Egypt, won the fourth-place prize and $20,000.

    The six other finalists each received a $10,000 prize. 

    The Demo Day was supported by three official partners: Paystack Payment Ltd. (http://apo-opa.co/3XHn75j), Kuramo Capital Management (http://apo-opa.co/3ZGroJ2) and Nigerian University of Technology and Management (NUTM) (http://apo-opa.co/3XHn1dX).  

    “Congratulations to all of the incredibly talented entrepreneurs who participated in this year’s program, with special recognition to the 10 finalists and four distinguished winners,” said NBA Africa CEO Clare Akamanzi.  “These outstanding companies have demonstrated the creativity, drive and determination to shape the future of sport in Africa and will help the continent take its rightful place on the world stage.  We look forward to following their successes for many years to come.”

    “NBA Africa Triple-Double Accelerator” is open to early-stage startups in Africa that develop solutions in event management and ticketing, youth development, AI, and digital marketing. 

    MIL OSI Africa –

    January 22, 2025
  • MIL-OSI Video: Secretary Blinken meets with Bangladeshi Chief Advisor Muhammad Yunus – 11:30 AM

    Source: United States of America – Department of State (video statements)

    Secretary of State Antony J. Binken meets with Bangladeshi Chief Advisor and Head of the Interim Government Muhammad Yunus in New York City, New York, on September 26, 2024.

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at http://www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
    Twitter: https://twitter.com/StateDept
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    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: http://ow.ly/diiN30ro7Cw

    State Department website: https://www.state.gov/
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    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=WyQDWpAoU0U

    MIL OSI Video –

    January 22, 2025
  • MIL-OSI: EXL launches specialized Insurance Large Language Model (LLM) leveraging NVIDIA AI Enterprise

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, announced the launch of the EXL Insurance LLM, an industry-specific LLM. Building on EXL’s recently announced initiative with NVIDIA AI Enterprise, the EXL Insurance LLM is the first industry-specific LLM created to support critical claims and underwriting-related tasks, such as claims reconciliation, data extraction and interpretation, question-answering, anomaly detection and chronology summarization.

    The EXL Insurance LLM was developed to address the highly specialized needs of the insurance industry, which has struggled to leverage off-the-shelf, general LLMs that lack fine-tuning of private insurance data and domain-specific understanding of business process operations. Generic LLMs also fail to address the nuanced challenges faced by insurance companies during claim adjudication, leading to inefficiencies, high indemnity costs, claims leakage, longer settlement timelines, and increased compliance risks. By focusing exclusively on insurance-related tasks, EXL has incorporated its deep knowledge of the insurance industry and highly tailored proprietary data to create the industry’s most accurate LLM.

    This level of specialization has become critical for ensuring accuracy, reducing cost and improving consistency in industry-specific AI applications. According to Gartner, more than 50% of the GenAI models that enterprises use will be specific to either an industry or business function by 2027 — up from approximately 1% in 2023. In internal studies, the EXL Insurance LLM achieved a 30% improvement in accuracy on insurance tasks, surpassing top pre-trained models, such as OpenAI GPT4, Claude and Gemini. It was built by EXL AI Labs using the full-stack NVIDIA AI platform.

    EXL customized the LLM using the NVIDIA NeMo™ end-to-end platform, part of the NVIDIA AI Enterprise Software Platform, for training, customization, and deployment, and to handle question-and-answer tasks and summarization. The training process involved special adapters and was done through low-rank adaptation (LoRA) and supervised fine-tuning (SFT). It was tested on single and multi-node setups to optimize performance, utilizing advanced parallel processing methods using the NeMo framework on H100 GPUs. This approach was crucial for handling this extensive dataset.

    EXL used NVIDIA Triton Inference Server™ to maximize GPU power for single and multi-node setups. The system also includes retrieval-augmented generation (RAG) with NIVDIA NeMo Retriever microservices to handle long documents for questions and answers. The EXL Insurance LLM utilizes NVIDIA Nemo Guardrails to better manage input and output, creating a smoother user experience.

    “With 25 years of expertise in processing medical records data for bodily injury, workers’ compensation, and general liability claims, EXL has developed curated data sets with domain-specific tagging, labeling, and question and answer pair creation for claims adjudication to fine-tune our models,” said Anand “Andy” Logani, EXL’s executive vice president and chief digital officer. “The EXL Insurance LLM offers 30% greater accuracy and 30% lower costs than generic LLMs while ensuring full regulatory compliance.”

    Specific tasks supported by the EXL Insurance LLM include the following:

    • Structured and Unstructured Data Ingestion: EXL Insurance LLM is able to aggregate and reconcile hundreds of thousands of de-identified medical records, claims histories, hand-written notes, call logs, and other claims and underwriting-related information.
    • Contextual Classification and Triaging: Data and insights extracted using the LLM are automatically categorized and fed into a wide range of core functions, ranging from claims adjudication to provider engagement to payment integrity to customer service functions.
    • Conversations and Insights from Data: Insights, question-answering and summary data drawn from the LLM empower faster, more accurate negotiations with providers, more robust assessment of anomalies and inaccurate payments and more personalized, real-time conversations with customers.

    The EXL Insurance LLM was developed by the EXL AI Labs, a dedicated team of AI and engineering specialists working across EXL’s Analytics and Digital and industry business units to accelerate the development of enterprise AI solutions. The EXL Insurance LLM will continue to evolve, expanding use cases across the insurance value chain, including underwriting, premium audit, subrogation, and finance. The comprehensive domain expertise within the LLM will integrate insights from all value chain components, further enhancing its precision and applicability.

    For more information about the EXL LLM for Insurance, please visit here. To learn more about EXL’s NVIDIA partnership, please visit here.

    About EXL

    EXL (Nasdaq: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit  http://www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    © 2024 ExlService Holdings, Inc.  All rights reserved. For more information go to http://www.exlservice.com/legal-disclaimer

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

    January 22, 2025
  • MIL-OSI: ConnectM Eliminates $13.7 Million Debt

    Source: GlobeNewswire (MIL-OSI)

    ~ Completed Conversions of $6.2 Million Debt-to-Equity in Second Tranche ~

    MARLBOROUGH, Mass., Sept. 26, 2024 (GLOBE NEWSWIRE) — ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) (“ConnectM” or the “Company”), a technology company focused on the electrification economy, today announced the Company has completed its second tranche of a debt-to-equity swap by converting an additional $6.2 million of the Company’s outstanding debt to common equity at $2.00 per share, bringing the current total to $13.7 million. This debt-to-equity swap is part of a series of actions to deleverage the balance sheet.

    With the total conversions the Company has:

    • achieved 90% of $15 million target within 30 days of the Board approved plan;
    • prioritized balance sheet optimization in immediate action following public listing;
    • deleveraged its balance sheet, removing $13.7 million in debt;
    • reduced annual interest expense by more than $2 million, thereby increasing Free Cash Flow to invest in operations to grow revenue and profitability; and
    • improved its credit profile.

    Today’s announcement follows the previously announced approval from the Company’s Board of Directors and follows the previously announced initial tranche of $7.5 million debt-to-equity conversion.

    About ConnectM Technology Solutions, Inc.

    ConnectM is at the forefront of advancing the electrification economy, integrating electrified energy assets with its AI-driven technology solutions platform. Serving residential and light commercial buildings, as well as all-electric original equipment manufacturers (OEMs), ConnectM’s proprietary platform accelerates the transition to solar and all-electric heating, cooling, and transportation. By leveraging technology, data, artificial intelligence, contemporary design, and behavioral economics, ConnectM aims to make electrification more user-friendly, affordable, precise, and socially impactful. The company’s vertically integrated approach includes wholly-owned service networks and a comprehensive technology stack, enabling customers to reduce their reliance on fossil fuels, lower energy costs, and minimize their carbon footprint. ConnectM is headquartered in Marlborough, Massachusetts.

    For more information, please visit: https://www.connectm.com/

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “continue,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control.

    In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the “Cautionary Note Regarding Forward-Looking Statements” section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:

    MZ North America

    (203) 741-8811

    ConnectM@mzgroup.us

    The MIL Network –

    January 22, 2025
  • MIL-OSI: Top Electrical Distributor Expands License with Bridgeline’s AI-Powered HawkSearch

    Source: GlobeNewswire (MIL-OSI)

    WOBURN, Mass., Sept. 26, 2024 (GLOBE NEWSWIRE) — Bridgeline Digital, Inc. (NASDAQ: BLIN), a leader in AI-powered marketing technology, today announced that a top 10 U.S. electrical distributor has expanded its license with Bridgeline’s HawkSearch to enhance its Salesforce B2B Commerce experience.

    HawkSearch will support over 740 profit centers, improving the distributor’s product discovery with the Unit of Measure Conversion feature, while providing additional hosting services to address growing traffic demands. With Unit of Measure Conversion, a customer searching for cable sold in feet or meters will receive consistent results no matter which unit is used, streamlining the product search and purchase process. In addition, due to the rapid growth the distributor has experienced, they have invested in additional hosting services to handle the increased traffic demand. With our innovative solutions, the distributor can manage its expanding network of profit centers and increased traffic.

    HawkSearch has developed these Unit of Measure features, along with other B2B-focused solutions, to specifically meet the complex needs of industries like manufacturing and distribution, demonstrating its commitment to driving growth for customers such as Trident Enterprises, Filters Fast, and Grizzly Industrial.

    “Our solutions help businesses overcome challenges like managing dimensional products and scaling infrastructure for growth,” said Ari Kahn, CEO of Bridgeline. “With HawkSearch’s advanced features and scalable hosting, this distributor is positioned for continued operational efficiency and sales growth.”

    About Bridgeline Digital

    Bridgeline helps companies grow revenue by increasing traffic, conversion rates, and average order value through AI-powered solutions. To learn more, visit http://www.bridgeline.com.

    Contact:

    Danielle Colvin

    SVP of Marketing

    Bridgeline Digital

    press@bridgeline.com

    The MIL Network –

    January 22, 2025
  • MIL-OSI Translation: National roads are generally in good condition

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Roads Office OFROU

    Bern, 26.09.2024 – As the latest edition of the report on the condition of the national road network published by the Federal Roads Office (FEDRO) shows, the national road network remains in good condition. In 2023, FEDRO invested around CHF 1.2 billion in the maintenance of national roads.

    National roads are of major importance for the entire transport network: while they represent around 3% of the total length of the road network, they absorb more than 45% of all Swiss road traffic. They are also essential for road freight traffic: more than 70% of this travels on national roads. The replacement value of the national road network amounts to 141 billion francs. Last year, FEDRO invested almost 1.2 billion francs in maintaining this infrastructure to ensure that it remains in good condition. This contribution, the amount of which is in line with the average for the last ten years, demonstrates that FEDRO attaches great importance to the safe and sustainable use of existing infrastructure.

    97% of roads are in good condition

    The national roads are maintained regularly and are generally in good condition, as shown by the 2023 figures published by FEDRO in its report on the condition of the national road network. Around 88% of all facilities are in a condition deemed to be good or acceptable (condition classes 1 and 2 out of a total of five classes). As regards carriageways and surfaces, 97% are in a condition deemed to be good or average (condition classes 1 and 2) and around 3% in a satisfactory condition (condition class 3).

    As regards engineering structures (e.g. bridges, wildlife crossings, galleries), 91% are in a condition considered good or acceptable. Almost 9% of them have damage of average severity (condition class 3), which however has no impact on structural safety or road safety. Some 0.7% of the structures are in poor condition (condition class 4). These will have to be repaired or replaced in the coming years, but structural safety and road safety remain guaranteed.

    Safety is guaranteed

    78% of the tunnels inspected are in a condition deemed to be good or acceptable (condition classes 1 and 2). 19% have moderate damage and therefore require increased monitoring (condition class 3). Six structures are in poor condition and will therefore need to be renovated in the medium term. No tunnel is in an alarming condition, in other words in a condition that no longer allows it to be operated.

    The operating and safety equipment (OSE), such as cables, lighting systems or signalling, are mostly well preserved: 85% of them are in a condition considered good or acceptable (condition classes 1 and 2). 14% of the installations have damage of average severity. In 5% of the tunnels, the OSEs are in poor condition and will need to be renovated in the coming years. At the end of 2023, the OSEs in the Neuenhof and Baregg tunnels (A1, AG) were in an alarming condition. They are currently undergoing a complete renovation in both tunnels.

    Survey of the state of national roads

    Every five years, the works are subject to a complete inspection and assessment, which consists of examining not only their various elements and installations, but also their general appearance. The results thus obtained serve as a basis for planning maintenance work on the national road network.

    The new report on the state of the network presents the situation at the end of 2023. It therefore does not take into account the repair work launched or carried out in 2024.

    Safety is not compromised for structures categorised in condition classes 1 to 4. Depending on the situation, those in class 4 may require medium-term measures. For structures in class 5, shorter-term measures are required, such as replacing individual elements, installing temporary supports or introducing a weight limit on bridges.

    Address for sending questions

    Press Service of the Federal Roads Office (FEDRO)Tel.: 058 464 14 91; email: media@astra.admin.ch

    Author

    Federal Roads Office OFROUhttp://www.astra.admin.ch

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

    January 22, 2025
  • MIL-OSI USA: Deputy Pentagon Press Secretary Sabrina Singh Holds a News Briefing

    Source: United States Department of Defense

    SABRINA SINGH:  All right. Good afternoon, everyone. Okay. Just a few things at the top and then happy to take your questions. This morning, Secretary Austin departed for London to attend the AUKUS defense ministerial meeting. The AUKUS DMM is the third of its kind, marking three years of enhanced security partnership and provides an opportunity for Secretary Austin to meet with his UK and Australian counterparts to review progress and outline steps for continued work under pillar one and pillar two of AUKUS.

    We’ll have more to share in the coming days, but under pillar one, you can expect the secretary to reaffirm the United States’ commitment to supporting Australia’s acquisition of a conventionally armed nuclear powered submarine capability. Under pillar two, Secretary Austin and his counterparts will discuss plans to further enhance collaboration and harmonize acquisition processes over the next two years to accelerate the delivery of advanced capabilities to our defense forces.

    AUKUS presents a unique opportunity for our nations to collectively enhance our military capabilities, improve interoperability and advance a shared vision for a free and open Indo-Pacific. The department looks forward to continuing to work with our UK and Australian partners to implement this important work. Earlier this week, the navy announced that USS Harry S. Truman carrier strike group departed naval station Norfolk, Virginia for a regularly scheduled deployment to the US naval forces Europe Africa US six fleet area of operations, demonstrating the commitment and power projection capability of the navy’s globally deployed force.

    The strike group will operate in the US European command area of responsibility in support of our maritime partners and NATO allies. Switching gears, the department continues to monitor tropical storm Helene, as it is forecasted to intensify into a hurricane as it approaches the northeastern Gulf coast on Thursday. Florida and Georgia have both declared states of emergency and the governor of Florida has activated more than 3,300 national guardsmen and 12 rotary wing aviation assets in state active duty status.

    These guardsmen are prepositioned around the state to provide responsive sustained support including high wheeled vehicle rescues, aerial support, route clearance and commodities distribution. Additionally, in the next 24 to 48 hours, the States of Georgia, Alabama and North Carolina are expected to activate the National Guard as well. For more information, I would encourage you to reach out to National Guard Bureau of Public Affairs.

    And to close, last night, the Senate confirmed more than 6000 of our highly qualified military nominees in the Air Force, Army Marine Corps, Navy and Space Force. These confirmations include Lieutenant General Nordhaus to be Chief of the National Guard Bureau, Vice Admiral Halsey to be Commander of US Southern Command. Lieutenant General Reed to be Commander of US Transportation Command and Lieutenant General Brunson to be Commander of US Forces Korea. We’re very glad that the Senate has confirmed these officers for critical positions during this time and for our national security and with that, I’d be happy to take your questions.

    Tara?

    Q:  Thanks, Sabrina. So later this week, we’re possibly expecting an agreement on the withdrawal or transition of US troops in Iraq. What still needs to be done in that agreement? It seems from the Iraqi perspective that this decision has been made and the details are set.

    SABRINA SINGH:  So thanks Tara, I appreciate the question. I think as you alluded to, we’ll probably have more details to share later this week. What we’ve said from the beginning is that we know that the global coalition and that international coalition is going to transition into a bilateral security relationship with the Iraqis. And this has been worked through the US Iraq Higher Military Commission working groups.

    So again, we should have more to share later this week, but at this time, I don’t want to get ahead of that process.

    Q:  Is it safe to assume that this means a reduction in the forces that are there from the 2,500?

    SABRINA SINGH:  I think we’ll have more to share this week.

    Q:  OK. Secondly, the status of the refueler that’s been damaged, and do you know anything else about what caused it to either run aground or run into something?

    SABRINA SINGH:  Sorry, I was just trying to find some more for you on that. The ship that you’re referring to was damaged when it was, I believe, in the fifth fleet AOR. Currently under investigation to what exactly caused that damage, but that oil tanker refueler has been towed to a port and there was no leakage from the ship. But in terms of impacts to operations, no impacts there. But for more information, I’d have to refer you to the navy.

    Q:  And so you don’t know what caused the damaged?

    SABRINA SINGH:  That’s right, we’re investigating the incident. Great. OK. Idrees and welcome back.

    Q:  Israel’s military chief, I think earlier today said that strikes in Lebanon would continue in order to not only destroy Hezbollah’s infrastructure but also prepare for a possible ground invasion. Just a general comment and do you see a ground invasion as likely or even imminent?

    SABRINA SINGH:  So in terms of a ground incursion or a ground invasion, that’s really for the Israelis to speak to. We certainly don’t want to see any action taken that could lead to further escalation in the region. We still believe that there is time and space for diplomacy. We want to see a diplomatic resolution and a solution to prevent an all-out war. But in terms of the Israeli operations, I’d have to refer to them to speak to that.

    Q:  And just to follow up, last week, I think the secretary had near daily calls with his Israeli counterpart, he hasn’t spoken with them since the 22nd. Is there any reason for that? And should we expect any conversations between the two of them in the coming days?

    SABRINA SINGH:  I think you can expect them to continue to engage. Just because they haven’t spoken every day, doesn’t mean that our teams haven’t been in communication. Again, he engages with Minister Gallant on a pretty regular basis and when we have more to share on when the next call happens, we’ll certainly read it out. But just because he hasn’t had one every single day this week doesn’t mean that we’re not engaging with the Israelis.

    You’ve seen, maybe not from this building, but other agencies part of this administration engaging their Israeli counterparts, so we’re continuing that dialogue. Fadi?

    Q:  Thank you, Sabrina. Is there any support that the Pentagon is providing to the Israeli military in the current situation in Lebanon?

    SABRINA SINGH: In terms of any like ground support or air support?

    Q:  Any support, even in terms of intelligence?

    SABRINA SINGH:  No, no support.

    Q:  Not even intelligence sharing?

    SABRINA SINGH:  No.

    Q:  So up until, I guess unless there’s some changes, you’ve been describing what’s happening as defensive operations. I believe in the first day, almost 500 civilians were killed, including women and Children in Lebanon. Civilian infrastructure has been damaged severely, almost 1,300 airstrikes. Today, up until 3:00 pm Beirut time, more than 50,000 villages have been hit by Israelis.

    International organizations are describing what happened the first day as the highest death toll in Lebanon since the end of the Civil War. So I’m just curious, what criteria are you using to describe what’s happening as defensive operations?

    SABRINA SINGH: 

    Well, Fadi, I think I’d have to point you back to October 8th when Lebanese Hezbollah attacked Israel following the brutal attack that Hamas launched on October 7th. So these are still defensive operations. We understand the threat that Israel faces.

    We are not supporting their operations when it comes to Lebanon. The support that you’re seeing or what you’re seeing when it comes to US forces in the region is for our own force protection. And should we need to come to the defense of Israel like saw from that large scale attack from Iran, we’ve positioned forces to do that. But when it comes to Lebanon, the US military has no involvement in Israel’s operation. So I just want to lay that flat.

    In terms of some of what you just referenced, this is exactly why we’re pushing for a diplomatic solution. We don’t want to see innocent civilians lose their lives. We want to see a deescalating happen. And you’re seeing engagement from all parts of this administration, including at UNGA right now. We’re calling for a deescalated and we believe that a diplomatic off ramp is the best way to resolve what’s happening on that northern border.

    Q:  And last question, did any official in the Pentagon communicate any concerns about the high death toll among Lebanese civilians? I mean, I know, and we know in Gaza that was a constant conversation. Has anyone raised that issue in relation to Lebanon?

    SABRINA SINGH:  Without getting into more details of the secretary’s calls with Minister Gallant, we are of course always concerned of civilian casualties. We’re seeing some of these strikes take place in areas where there are civilians. We’re also seeing Israel notify populations to clear those areas. Our focus, and you’re seeing a full court press here from the United States government and this administration, we want to see a diplomatic solution and we want to see it urgently.

    And that’s why you’re seeing engagement, whether it be at UNGA, or in calls that the secretary is doing with Minister Gallant, and not just at his level, but at other levels as well, we don’t want to see any action taken on either side that would lead to further escalation. We want to see this deescalate and the best off ramp for that to prevent an all-out war is through diplomatic means.

    Q:  Thank you.

    SABRINA SINGH:  Tom?

    Q:  Thanks, Sabrina.

    SABRINA SINGH:  Yeah.

    Q:  How confident are you that you can achieve a diplomatic offramp, especially given the past nearly 12 months where the US has been unable to broker any kind of sustained ceasefire in Gaza. So, for the situation with Hezbollah and Israel, how confident are you that we’re not going to see a full scale conflict?

    SABRINA SINGH:  Well, I’d, you know, push back on that respectfully. You know, we have seen periods where there has been a ceasefire put in place, and we have seen, you know, the ability to get — we were talking, you know, months earlier about humanitarian aid being able to get in. That was something that this administration brokered to make sure that we could get humanitarian aid and supplies in.

    So, look, you’re — and not to reiterate just what I said to Fadi, but you’re seeing a full court press from this administration at all levels for a diplomatic solution. Nothing is off the table. We don’t assess that either side wants a larger scale, wider regional conflict, but we’re doing everything that we can to prevent that from happening. And that’s why you’re seeing the engagements that the president is doing, from the secretary, and then on down in the building.

    Q:  And while I appreciate that you don’t want to speak for Israel, are you able to share anything in terms of what you’ve seen along the Lebanon-Israel border in terms of movement either side of it? Does it look like there’s a ramp up towards some kind of a incursion?

    SABRINA SINGH:  Right now it doesn’t. You know, well, you know, without characterizing Israeli operations and letting them speak to them for themselves, you know, it doesn’t look like anything is imminent. What we’re seeing on that northern border is an increase in, you know, the tit for tat, going back and forth strikes between Israel and Lebanese Hezbollah, and that is our concern.

    We — you know, we are concerned about a miscalculation. We don’t want to see a wider regional conflict. And that’s why, in every conversation that we have, in the conversations that are happening in New York, we’re — we are continuing to press for a diplomatic resolve.

    Jesse?

    Q:  Thank you so much.

    SABRINA SINGH:  Yeah.

    Q:  We all know that Secretary Austin is always in contact with his Israeli counterpart. Does the secretary have any objections to the way Israel is conducting its operations inside Lebanon?

    SABRINA SINGH: 

    In terms of?

    Q:  In terms of, as you may know, targeting civilians, maybe carpet bombing to the villages along the border.

    SABRINA SINGH:  Well, I mean, something that we’ve raised is we don’t want to see this escalate. And any time that there is a — actions taken that could further escalate the war that’s — or, like, a broader conflict, that we want to avoid a regional war. The secretary, in all of his conversations, urges restraint and urges, you know, the Israelis to consider civilian casualties. And that’s something that we’ve said from the very beginning.

    Look, I’m not going to get into more details on their private conversations. But of course, it’s something that the secretary discusses with his counterpart and will continue to raise.

    Q:  I mean, could you confirm if the secretary told Gallant that they need to avoid the infrastructure in Lebanon?

    SABRINA SINGH:  I think what I can tell you is what I was — what I reiterated earlier, is that of course we are always concerned where there are strikes in areas where there are — is a — is a concentrated civilian population. That’s something that the secretary raises on his calls with Minister Gallant. It’s something that, you know, at different levels in this building we also raise with our Israeli counterparts. But I’m just not going to be able to go beyond that.

    Liz?

    SABRINA SINGH:  Thanks, Sabrina. On China’s ICBM test launch, a US defense official said earlier today that China gave the US warning it was going to do this launch. Was that through military channels or diplomatic channels?

    I don’t have more specifics to provide on the channels. But we were given some advance notice, but I’m just not going to get into more specifics of that. I will say that that is a good thing and that is moving in the right direction in terms of, you know, getting that advanced notification, and that further reduces the risks of any misperception and miscalculation. So, we certainly welcome that.

    Q:  Were any US citizens, like, at harm by this test in any way, during it or following it?

    SABRINA SINGH:  Not to my knowledge.

    Yeah, Oren?

    Q:  Just a quick question. Israeli officials have said their strategy with Lebanon is escalate to deescalate. Does the Pentagon think that’s a viable strategy for how to conduct operations with Lebanon?

    SABRINA SINGH:  So, I’m not going to, you know, characterize the Israelis’ operations. What I can tell you is only, you know, our view. And our perception is that any type of escalation that — that could lead to a miscalculation we don’t want to see We want to see steps that lead to de-escalation and, frankly, steps that lead to a diplomatic offramp, which we believe is the best solution here.

    That’s what we’re pushing for. That’s what you’re seeing happen at UNGA. That’s also what you’re seeing the secretary, you know continue to emphasize in his calls with Minister Gallant. And when he has the next call, you know, that will be something that, you know, I’m sure he would reiterate as well.

    Ok.

    Q:  Just more clarity [Off mic].

    SABRINA SINGH:  Uh-huh. Sure.

    Q:  In response to Tom’s question, you said it doesn’t look like anything is imminent. Was that in reference to a Israeli incursion into Lebanon?

    SABRINA SINGH:  I believe the context was in terms of a ground incursion. So, I was saying, in that context, it doesn’t look like something is imminent. But again, I’d refer you to the Israelis to speak to their own operations.

    Q:  Thank you. I have a follow up question on Chinese ICBM launch.

    SABRINA SINGH:  Of course.

    Q:  So, what’s your assessment of this unusual ICBM launch into the Pacific Ocean? And do you think this is a provocative action? And especially, do you think they want to send a message to the US?

    SABRINA SINGH:  In terms of, you know, the whys, I’d refer you to the PRC to speak to that. You know, we monitored the ICBM test, to Liz’s question. You know, again, we did receive some advance notification of this ICBM test, and we believe that that was a good thing. That was a step in the right direction. And it does lead, you know, to preventing any misperception or miscalculation.

    What we can do here from the department is continue to press for a more regularized notification arrangement when it comes to ballistic missile and space launches. And this is something that we’ve proposed with the PRC. And it represents, you know, a common sense confidence building measure. So, we want to see these types of notifications continue.

    Yes?

    Q:  A question about presidential drawdown authority with regard to Ukraine Could you tell us what the department’s plan is to keep using that after September 30th? We’ve seen reports that there is, like, a workaround that the department can notify Congress and then that is legal. Could you tell us what that workaround is? But also, could you tell us why that workaround is needed? You got some criticism today from Senator Wicker, saying that the department should have spent this money already — or used this authority, I should say, since April.

    SABRINA SINGH:  Sure. So, on your — on your first question on how we’re going to use the authority, I don’t have anything to announce right now. But what I can tell you is that we’re committed to making sure Ukraine gets the resources Congress approved by the end of the president’s term.

    Again, I don’t have more to announce right now, but we’re committed to making sure that Ukraine gets what it — what it has been allotted by Congress. And we are working with the interagency to do just that. So, you know, bear with us and we’ll have more to share soon.

    Q:  And —

    SABRINA SINGH:  —In terms of your follow on question on the criticism, look, I’d have to point you back to the fact that for six months we didn’t have a supplemental so we weren’t able to refill our own shelves. So, therefore, when you’re not able to backfill and refill our own stocks, we’re not able to send out PDA’s.

    So, you have to remember during that time we still had some existing authority, but we weren’t able to send equipment, capability, systems out to Ukraine because we didn’t have it on our stocks. During that time, during that six months lag, because we weren’t able to do that, that also impacts packages going down the road.

    So, we’re going to find — we’re going to make sure Ukraine gets what it needs, you know, in the future. But to push back on that criticism, I would say that, when you don’t have what you need on your shelves, it makes it hard to send out that equipment, you know, in the timetable that Congress gave us when it — when it was authorized.

    Q:  So, is the plan now to move at a more — at a faster rate than you’ve been moving so you can get it done before President Biden ends his term?

    SABRINA SINGH:  I think we’ll have more to share in the coming days. I just don’t have more for you right now.

    Noah?

    Q:  Just to ask a follow up on that —

    SABRINA SINGH:  Sure.

    Q:  Because of the issues in getting the supplemental approved and certainly the issues in replenishing stocks because of that, all of that was known when the supplemental was passed in April. Is there a reason that the funding or the authority wasn’t extended beyond the fiscal year?

    SABRINA SINGH:  Well, I think also, Noah, you have to remember that we’re talking about also working with the defense industrial base that has to backfill our own shelves. So, there — you know, there’s a lot of coordination and timing here. We did ask Congress for that authority to extend, and, you know, that did not happen so now we are in a different place.

    So, I can’t, you know, go back and answer questions of, like, what if this happened and when. All I can tell you is that we’re committed to making sure Ukraine has what it needs, and we’re going to do it. And that’s a commitment that this president has made. And when we have more to share, we will.

    Jared?

    Q:  Sabrina, how comfortable is the department with the — with the department’s understanding of what the Israeli military’s intentions and near, midterm plans are in Lebanon operationally? Has — have the Israelis briefed you on what they intend to do?

    SABRINA SINGH:  So, I’m not going to go into more details of the conversations between the secretary and Minister Gallant, but it’s something that the — that, you know, has — and discussed and it’s something that the Secretary continues to, you know, in all of his conversations, I think you’ve seen the readouts, it’s something that he asked about and that they discussed, but I’m just not going to go beyond the readout. Yeah, in the back.

    Q:  It’s been reported that 60 additional US troops are being deployed to Cyprus to help with potential mass evacuations of US citizens from Lebanon. Can you confirm that?

    SABRINA SINGH:  I cannot confirm the number, but what I can tell you is that we are sending a small number of additional US military personnel forward to augment forces that are already in the region. I’m just not going to be able to provide you more specifics. I know I’ve seen the reporting. I know it’s frustrating, but I’m just not going to be able to confirm more.

    Q:  And just to follow up on a story from last week, is it the Pentagon’s view that it is an acceptable — it’s acceptable under the laws of war to booby trap civilian objects and place them amongst civilian populations? Is that — is that acceptable for any nation to do?

    SABRINA SINGH:  That’s something that — well, one without commenting on an operation that the US military had no involvement in, it’s hard for me to get into the hypotheticals. I’m not a lawyer. I’m not going to try and go down and explain, you know, legalese from here, so. I just can’t comment further on that operation for us. Yeah.

    Q:  [inaudible] US, the affecting supply chains or intercepting supply chains in order to place explosive items within normal consumer objects, right?

    SABRINA SINGH:  Yeah, I’m not going to comment on a hypothetical or an operation that we had no part of. Yeah?

    Q:  Thank you, Sabrina. Secretary Austin on Sunday told his Israeli counterpart to give time for diplomacy to work. And on Monday, we saw that Israel started to bomb Lebanon. And today, the Israel Defense Force has announced that they call up and deployment of two reserve brigades to the border with Lebanon. So where is the time that that Secretary Austin asked Israel for diplomacy? And do you still believe that Israel listening to you? Thank you.

    SABRINA SINGH:  We do believe that we have — that Israel is listening. I mean, just the fact that they’re listening by the amount of calls that the secretary has had with Minister Galant. I think that shows their willingness to hear our views, our concerns and our — you know, to hear from the secretary. So I think that’s important to note.

    In terms of, you know, I think your question was getting to — are we writing off, you know, diplomatic measures, and we’re not. Diplomacy is still the best path forward. There’s always a way for diplomacy. There’s always a way for both sides to, you know, to come to the table and — to have this resolved in diplomatic measures.

    From the very beginning, I mean since October 7th and then, you know, October 8th when we’ve moved additional assets to the region, the whole focus of this administration has been to not only deescalate, but you know to send a message of deterrence. I think we have been successful in that.

    You know, this — we know tensions are high, but we also don’t — we also see that there is a path forward for diplomacy. And that’s why you’re seeing this administration push so hard to get this done. And you’re going to continue to. We’re not going to give up on that. So we’re going to continue to engage.

    Q:  There is some media reports out saying that the US is now working with the France about a ceasefire, maybe a deal or a plan for Lebanon. Does anyone from the DOD have evolved or involved in this negotiation that — that’s happening right now in the United Nations during the UN Summit in New York.

    SABRINA SINGH:  I don’t have anything on those reports. I mean, I’ve been pretty public in telling you that we’re pushing for, you know, diplomatic measures to resolve what’s happening on that northern border. But I just don’t have more to add on that report. I’m sorry I haven’t seen it. Louis?

    Q:  Hi, Sabrina. Is the shipment of 2,000 pound bombs for Israel, is that still on hold?

    SABRINA SINGH:  Still paused.

    Q:  So, the rationale behind that from what I understand was when Israel was preparing to go into Rafah, you know, to protect civilian lives, limited operations. Are there any concerns given the current ongoing air operations that Israel has been conducting striking in civilian neighborhoods?

    And you know, I know that we’re seeing secondary effects, so it appears that there are — they are striking the targets they’re hitting, but are there concerns that the use of these bombs again presumably American bombs could be putting civilians at risk?

    SABRINA SINGH:  So, you first asked about the 2,000 pound bomb shipment, so that is still paused. So I don’t — you know, I don’t know what they’re using in their operations, so I’d refer you to them to speak to that. There is always a concern about civilian casualties and that is something that the secretary has addressed, you know, really from the beginning whether it be in Gaza or elsewhere.

    That’s a conversation that we continue to have. I think, you know, in that same vein we’re also concerned about escalation. And that’s why we don’t want to see any action taken by, you know, either side that could lead to further escalation. And that’s what the secretary continues to emphasize along with always talking about the need to protect civilians.

    And you are seeing, I mean, you know, I’m citing public sourcing here, but you know, the Israelis, notifying communities and towns on that northern border to clear that area because they will be conducting operations. You know, we have to protect civilians in the battle space. That’s something the secretary has said. I know you’ve heard him say that before as well.

    Our focus, of course, is that. But the best way to protect civilians is, of course, through diplomatic means and for this to be resolved through diplomacy. And that’s why we continue to push for that.

    Q:  Is the secretary in the future planning to meet or travel to Israel in the future?

    SABRINA SINGH:  Yeah, you know, I’m not — I don’t have any announcements to make in terms of travel, but when we do, I’m — you’ll be the first to know. Yes, in the back.

    Q:  Thanks, Sabrina. You emphasized that the?

    SABRINA SINGH:  I just — I’m sorry. I just committed to giving Louis an exclusive on the secretary’s travel. So yeah, yeah, sorry. And you know, we’ll discuss — we’ll discuss later — sorry, go ahead.

    Q:  Thanks. You emphasized that the administration’s position is that you don’t want to see further escalation and you don’t want to see an all-out war. Where do you draw the line, you know, especially with regards to a possible ground operation that may be imminent?

    SABRINA SINGH:  Well, like I said, I mean, I don’t know that it is imminent. And what we continue to push for and I’m not trying to use a tired talking point here. It’s actually just, you know, the fact is that we do continue to push for a diplomatic resolution here. From the secretary to, you know, the interagency, that’s something that we continue to engage on.

    And you know, in terms of the conflict itself, we still believe — like right now, the conflict has been contained to Gaza. There’s no question that there are higher tensions in the region. There’s no question that there’s been an increase in border clashes on that northern border.

    But we believe that in order to avert an all-out regional war, it’s through diplomatic means. And so, we’re going to continue to push for that. And you’re seeing that happen in New York and you’re seeing that happen here as well. Last one.

    Q:  Just to follow though, how has the conflict been contained to Gaza? You have civilians being killed in Lebanon.

    SABRINA SINGH:  Sure. But what I would tell you is that it’s not how we would characterize, you know, an all-out full scale regional war. What you’re seeing is a trade of fires back and forth on that northern border. I’d point you to October 8th when Hezbollah started launching those. We’re not seeing this widen out to a regional conflict. And that’s what we are concerned about.

    And that’s why, you know, the secretary from the beginning, whether it be the Ford, the IHC, you know, the 26 MEU that was in the region. And now you have the Lincoln there. You know, we continue to position assets in the region to send a message of deterrence because we don’t want it to scale out. Yes, we acknowledge that, you know, there have been, you know, innocent people that have been killed and we don’t want to see that happen. And that’s why we continue to press for diplomatic means.

    Q:  Can you take one more?

    SABRINA SINGH:  Sure, one more and then I’ve got one in the back and then we’ll —

    Q:  I know this is a planning organization, that’s not the answer I’m looking for.

    SABRINA SINGH:  That’s the answer you’re getting.

    Q:  Yeah. In — in regards to Lebanon, did the Pentagon put together any NIO plans in case there’s the need for it?

    SABRINA SINGH:  You’re so going to hate my answer, but we are a planning organization. We plan for a wide range of contingencies. I will point you back though to, you know, early on last year — or sorry, late last year, but early on after October 7th when I think I was up here, General Ryder was up here getting a lot of questions about NIO. I will say we are always a planning organization prepared for any contingency and we never had to use those plans.

    We will always have plans on the shelves that we can dust off at any time. And that is the amazing thing of our military is we are able to search capabilities to the region. And the secretary did just that. And we have, you know, incredible firepower in the region right now. So again, I’m not going to get ahead of anything. That’s also a State Department decision to make. But Fadi, to answer your own question, we are planning organization. All right, Mike, and then I’ll wrap up.

    Q:  Yeah, you — the Pentagon always talk or often talks about deterrence and giving Israel enough to defend themselves. Does this administration, would they like Israel to actually win their battle, win their war against Hamas, win their war against Hezbollah? Is it — do you have a position on that one way or the other?

    SABRINA SINGH:  Well, I think we’ve said time and again that we support Israel’s right to self-defense. You know, what a — what a win looks like is really for Israel to define, but we are supporting them and their right to self-defense. And of course, you know, we understand and, you know, know the threats that they’re facing from these terrorist organizations and that’s why we are supporting them in their fight against, you know, what, you know the threats that they face on their borders. But beyond that I just don’t have more to add. OK, thanks, everyone.

    MIL OSI USA News –

    January 22, 2025
  • MIL-OSI USA: Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Second Quarter 2024 and Annual Update

    Source: US Bureau of Economic Analysis

    Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024 (table 1), according to the “third” estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP increased 1.6 percent (revised).

    The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was also 3.0 percent. The update primarily reflected upward revisions to private inventory investment and federal government spending that were offset by downward revisions to nonresidential fixed investment and exports (refer to “Updates to GDP”). Imports, which are a subtraction in the calculation of GDP, were revised up.

    The increase in real GDP primarily reflected increases in consumer spending, private inventory investment, and nonresidential fixed investment. Imports increased (table 2).

    Compared to the first quarter, the acceleration in real GDP in the second quarterly primarily reflected an upturn in private inventory investment and an acceleration in consumer spending. These movements were partly offset by a downturn in residential fixed investment.

    Current‑dollar GDP increased 5.6 percent at an annual rate, or $392.6 billion, in the second quarter to a level of $29.02 trillion, a $9.5 billion larger increase than the previous estimate (tables 1 and 3). More information on the source data that underlie the estimates is available in the “Key Source Data and Assumptions” file on BEA’s website.

    The price index for gross domestic purchases increased 2.4 percent in the second quarter, the same as the previous estimate (table 4). The personal consumption expenditures (PCE) price index increased 2.5 percent, the same as the previous estimate. Excluding food and energy prices, the PCE price index increased 2.8 percent, also the same as the previous estimate.

    Personal Income

    Current-dollar personal income increased $315.7 billion in the second quarter, an upward revision of $82.1 billion from the previous estimate. The increase primarily reflected increases in compensation and personal current transfer receipts (table 8).

    Disposable personal income increased $260.4 billion, or 5.0 percent, in the second quarter, an upward revision of $77.3 billion from the previous estimate. Real disposable personal income increased 2.4 percent, an upward revision of 1.4 percentage points.

    Personal saving was $1.13 trillion in the second quarter, an upward revision of $74.3 billion from the previous estimate. The personal saving rate—personal saving as a percentage of disposable personal income—was 5.2 percent in the second quarter, compared with 5.4 percent (revised) in the first quarter.

    Gross Domestic Income and Corporate Profits

    Real gross domestic income (GDI) increased 3.4 percent in the second quarter, an upward revision of 2.1 percentage points from the previous estimate. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 3.2 percent in the second quarter, an upward revision of 1.1 percentage points from the previous estimate (table 1).

    Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $132.5 billion in the second quarter, an upward revision of $74.9 billion from the previous estimate (table 10).

    Profits of domestic financial corporations increased $42.5 billion in the second quarter, a downward revision of $4.0 billion from the previous estimate. Profits of domestic nonfinancial corporations increased $108.8 billion, an upward revision of $79.6 billion. Rest-of-the-world profits decreased $18.8 billion, a downward revision of $0.7 billion. In the second quarter, receipts increased $4.4 billion, and payments increased $23.1 billion.

    Updates to GDP

    With the third estimate, upward revisions to private inventory investment and federal government spending were offset by downward revisions to nonresidential fixed investment, exports, consumer spending, and residential fixed investment. Imports were revised up. For more information, refer to the Technical Note. For information on updates to GDP, refer to the “Additional Information” section that follows.

      Advance Estimate Second Estimate Third Estimate
    (Percent change from preceding quarter)
    Real GDP 2.8 3.0 3.0
    Current-dollar GDP 5.2 5.5 5.6
    Real GDI … 1.3 3.4
    Average of Real GDP and Real GDI … 2.1 3.2
    Gross domestic purchases price index 2.3 2.4 2.4
    PCE price index 2.6 2.5 2.5
    PCE price index excluding food and energy 2.9 2.8 2.8

    Real GDP by Industry

    Today’s release includes estimates of GDP by industry, or value added—a measure of an industry’s contribution to GDP. Private goods-producing industries increased 6.9 percent, private services-producing industries increased 2.4 percent, and government increased 0.8 percent (table 12). Overall, 16 of 22 industry groups contributed to the second-quarter increase in real GDP.

    • Within private goods-producing industries, the leading contributors to the increase were nondurable goods manufacturing (led by petroleum and coal products) and durable goods manufacturing (led by motor vehicles, bodies and trailers, and parts) (table 13).
    • Within private services-producing industries, the leading contributors to the increase were finance and insurance (led by Federal Reserve banks, credit intermediation, and related activities); health care and social assistance (led by ambulatory health care services); as well as real estate and rental and leasing (led by real estate).
    • The increase in government reflected increases in state and local government as well as federal government.

    Gross Output by Industry

    Real gross output—principally a measure of an industry’s sales or receipts, which includes sales to final users in the economy (GDP) and sales to other industries (intermediate inputs)—increased 1.8 percent in the second quarter. This reflected an increase of 2.1 percent for private goods-producing industries, an increase of 1.7 percent for private services-producing industries, and an increase of 2.2 percent for government (table 16). Overall, 18 of 22 industry groups contributed to the increase in real gross output.

    Annual Update of the National Economic Accounts

    Today’s release presents results from the annual update of the National Economic Accounts (NEAs), which include the National Income and Product Accounts (NIPAs) and the Industry Economic Accounts (IEAs). The update includes revised estimates for the first quarter of 2019 through the first quarter of 2024 and resulted in revisions to GDP, GDP by industry, GDI, and their major components. The reference year remains 2017.

    With today’s release, most data are available through BEA’s Interactive Data application on the BEA website (www.bea.gov). Refer to “Information on 2024 Annual Updates to the National, Industry, and State and Local Economic Accounts” for the complete table release schedule and a summary of results through 2023, which includes information on methodology changes. A table showing the major current dollar revisions and their sources for each component of GDP, national income, and personal income is also provided. An article describing the update in more detail will be forthcoming in the Survey of Current Business.

    The updated estimates show that real GDP increased at an average annual rate of 2.3 percent from 2018 to 2023, 0.2 percentage point higher than the previously published estimate. Over the same period, real GDI increased at an average annual rate of 2.2 percent, 0.4 percentage point higher than previously published. The average of real GDP and real GDI over the same period was 2.3 percent, 0.4 percentage point higher than previously published.

    For the period of economic expansion from the second quarter of 2009 through the fourth quarter of 2019, real GDP increased at an annual rate of 2.5 percent, revised up 0.1 percentage point from the previously published estimates. For the period of economic contraction from the fourth quarter of 2019 through the second quarter of 2020, real GDP decreased at an annual rate of 17.5 percent, the same as previously estimated. For the period of economic expansion from the second quarter of 2020 through the first quarter of 2024, real GDP increased at an annual rate of 5.2 percent, 0.3 percentage point higher than previously estimated.

    Previously published estimates, which are superseded by today’s release, are found in BEA’s archives.

    Updates for the First Quarter of 2024

    For the first quarter of 2024, real GDP is now estimated to have increased 1.6 percent (table 1), an upward revision of 0.2 percentage point from the previously published estimate, primarily reflecting an upward revision to consumer spending that was partly offset by downward revisions to private inventory investment and residential fixed investment.

    The price index for gross domestic purchases is now estimated to have increased 3.0 percent, a downward revision of 0.1 percentage point. The PCE price index increased 3.4 percent, the same as previously published. Excluding food and energy, the PCE price index increased 3.7 percent, the same as previously published.

      First Quarter 2024
    Previous Estimate Revised
    (Percent change from preceding quarter)
    Real GDP 1.4 1.6
    Current-dollar GDP 4.5 4.7
    Real GDI 1.3 3.0
    Average of Real GDP and Real GDI 1.4 2.3
    Gross domestic purchases price index 3.1 3.0
    PCE price index 3.4 3.4
    PCE price index excluding food and energy 3.7 3.7

    Personal Income

    Current-dollar personal income is now estimated to have increased $536.4 billion in the first quarter, an upward revision of $139.6 billion from the previous estimate. The revision primarily reflected an upward revision to compensation (led by private wages and salaries) (table 8).

    Disposable personal income increased $465.1 billion, or 9.2 percent, in the first quarter, an upward revision of $224.9 billion from the previous estimate. Real disposable personal income increased 5.6 percent, an upward revision of 4.3 percentage points.

    Personal saving was $1.15 trillion in the first quarter, an upward revision in change of $188.3 billion. The personal saving rate—personal saving as a percentage of disposable personal income—was 5.4 percent (revised) in the first quarter.

    Gross Domestic Income and Corporate Profits

    Real GDI is now estimated to have increased 3.0 percent in the first quarter (table 1); in the previously published estimates, first-quarter GDI was estimated to have increased 1.3 percent. The leading contributor to the upward revision was compensation, based primarily on new first-quarter wage and salary estimates from the Bureau of Labor Statistics’ Quarterly Census of Employment and Wages. The average of real GDP and real GDI is now estimated to have increased 2.3 percent in the first quarter; in the previously published estimates, the average of GDP and GDI was estimated to have increased 1.4 percent.

    Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) is now estimated to have decreased $65.1 billion in the first quarter, a downward revison of $18.0 billion (table 10).

    Profits of domestic financial corporations increased $57.4 billion, a downward revision of $7.6 billion. Profits of domestic nonfinancial corporations decreased $124.9 billion, a downward revision of $10.4 billion. Rest-of-the-world profits increased $2.3 billion, the same as previously estimated. In the first quarter, receipts are now estimated to have increased $25.7 billion, and payments are estimated to have increased $23.4 billion.

    GDP by Industry

    In the first quarter, real value added for private goods-producing industries is now estimated to have decreased 2.6 percent, a downward revision of 1.5 percentage points. Private services-producing industries increased 2.6 percent, an upward revision of 0.7 percentage point. Government increased 1.9 percent, a downward revision of 0.4 percentage point.

    Real gross output is now estimated to have increased 2.8 percent, an upward revision of 0.3 percentage point. Private goods-producing industries increased 1.6 percent, an upward revision of 0.4 percentage point. Private services-producting industries increased 3.3 percent, an upward revision of 0.2 percentage point. Government increased 2.3 percent, an upward revision of 0.6 percentage point.

    *          *          *

    Next release, October 30, 2024, at 8:30 a.m. EDT
    Gross Domestic Product, Third Quarter 2024 (Advance Estimate)

    *          *          *

    MIL OSI USA News –

    January 22, 2025
  • MIL-OSI USA: Congressman Valadao Votes to Keep Government Open, Extend Expiring Veterans Programs

    Source: United States House of Representatives – Congressman David G Valadao (CA-21)

    WASHINGTON –Today, Congressman David G. Valadao (CA-22) released the following statement after voting in support of a Continuing Resolution (CR) to keep the government open while the House and Senate continue their work on Appropriations Bills. The CR included Congressman Valadao’s legislation to extend critical veterans resources and programs that were set to expire at the end of the fiscal year. The Continuing Resolution passed with widespread bipartisan support.

    “Government shutdowns are unproductive, cost billions of dollars, and hurt our military,” said Congressman Valadao. “Today I voted in support of a bipartisan, short-term Continuing Resolution to avoid a costly shutdown while we continue our work to pass fiscally responsible government funding bills. I’m glad that my legislation to extend veterans programs was included in the bill so the VA can continue providing services our veterans and their families rely on. As a member of the Appropriations Committee I’ll continue working to rein in wasteful Washington spending.”

    Background:
    The House and the Senate each must pass 12 appropriations bills before September 30th or a Continuing Resolution (CR) to buy more time to find agreement between the House, Senate, and White House on various funding levels in order to keep the government open. The House Appropriations Committee has marked up all 12 appropriations bills in Committee, and passed five off the House Floor. The Senate has passed none of its 12 appropriations bills. Congress now has until December 20, 2024 to find agreement on full-year appropriations bills for Fiscal Year 2025. The Continuing Appropriations Act of 2025:

    • Funds the government through December 20, 2024
    • Provides an additional $231 million for the Secret Service for protective operations for Presidential and Vice-Presidential nominees in the 2024 Campaign and activities related to National Special Security Events and provides the agency with flexibility to quickly obligate funds for protective operations.
    • Extends programs at the Department of Veterans Affairs to ensure our veterans continue to receive the care and benefits they have earned.

    ###

    MIL OSI USA News –

    January 22, 2025
  • MIL-OSI United Kingdom: UK to speed up military kit deliveries to support Ukraine’s fight

    Source: United Kingdom – Executive Government & Departments

    The Government is set to surpass its commitment to deliver 12 AS90 artillery guns within 100 days of taking office, with 16 units now on course to be delivered

    The UK has provided AS90 artillery guns to Ukraine

    The UK will send more vital artillery guns to support Ukraine’s fight against Russia’s illegal invasion after the UK recommits to £3 billion a year of military support for Ukraine until 2030/31 and for as long as it takes.

    The announcement comes as the UK speeds up the delivery of vital military support, with the new government set to surpass its pledge of delivering 12 AS90 artillery guns within 100 days of taking office.

    A total of 16 units are now on course to be delivered, with 10 already delivered and six more to follow in the coming weeks. Artillery has played a vital role in providing cover for Ukrainian troops and destroying key Russian targets.

    The government have also announced a new joint MOD and FCDO Ukraine unit – led by Foreign Secretary David Lammy and Defence Secretary John Healey –which will integrate expertise and help drive a new whole-of-government approach to Ukraine.

    Alongside this, defence is creating a new direct cyber pathway to help boost the UK’s cyber resilience, with different tailored selection and basic training requirements.

    This scheme would create direct entry paths into cyber careers in Defence and provide routes for lateral entry for specialists who are mid-way through their cyber careers, expanding Defence’s appeal, increasing workforce diversity, and in turn complementing other trades in the services, rather than acting in competition.

    The Government has also announced that more than 100 outdated policies have been scrapped or updated since July. These include measures blocking recruitment within the Armed Forces of some sufferers of hay fever, eczema and acne, and some injuries that have fully healed, with work ongoing at pace to modernise recruitment.

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    Updates to this page

    Published 26 September 2024

    Invasion of Ukraine

    • UK visa support for Ukrainian nationals
    • Move to the UK if you’re coming from Ukraine
    • Homes for Ukraine: record your interest
    • Find out about the UK’s response

    MIL OSI United Kingdom –

    January 22, 2025
  • MIL-OSI Video: Secretary Blinken Meeting with Armenian FM Ararat Mirzoyan & Azerbaijani FM Jeyhun Bayramov 10:15 AM

    Source: United States of America – Department of State (video statements)

    Secretary of State Antony J. Blinken meets with Armenian Foreign Minister Ararat Mirzoyan and Azerbaijani Foreign Minister Jeyhun Bayramov in New York City, New York, on September 26, 2024.

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at http://www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
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    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
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    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=h-Whohl2GkQ

    MIL OSI Video –

    January 22, 2025
  • MIL-OSI Africa: SA’s G20 Presidency to focus more on Global South and African issues, says Lamola

    Source: South Africa News Agency

    South Africa’s G20 Presidency will be centred more on the interests of the Global South agenda, especially Africa, says International Relations and Cooperation Minister, Ronald Lamola. 

    Preparations are underway for South Africa’s G20 Presidency and hosting the G20 Summit in 2025. South Africa is expected to take over Chair of the G20 from December 1 this year, from Brazil. 

    Lamola announced that South Africa’s theme will focus on solidarity, equality and sustainable development. 

    “This theme speaks to the developmental priorities of the Global South, particularly, the African continent, which is now fully represented with the admission of the African Union (AU) in the G20,” he told delegates during the Troika high-level address at the United Nations (UN). 

    The G20 (or the Group 20) comprises 19 States, plus the European Union and the AU as of this year – bringing together the world’s major and systemically important economies. 

    The G20 operates a Troika system of hosting, where the Troika consists of the past, present, and next Presidencies. 

    Brazil’s Presidency is also in a Global South Troika – India-Brazil-South Africa. 

    Lamola stressed that South Africa will ensure that the G20 provides strategic direction towards establishing a “more equitable, representative and fit-for-purpose international order”.

    According to the Minister, the theme will also confirm South Africa’s intention to build on the efforts and successes of the G20 Presidencies of Indonesia, India and Brazil. 

    He believes this will ensure that the needs, interests and aspirations of the developing economies of the Global South, and Africa especially, drive the overall G20 agenda going forward.

    According to the Minister, South Africa’s overarching theme will also zoom in on the country’s priorities. These include accelerating efforts to achieve Sustainable Development Goals (SDGs) and the objectives of Agenda 2063 of the AU and addressing the critical issue of debt vulnerability of many countries of the global South. 

    The country will also focus on creating consensus around reform of the International Financial Architecture (IFA) and the Multilateral Development Banks (MDBs). 

    “This is critical to ensure that they become fit for purpose to adequately address sustainable development and transboundary challenges,” Lamola explained. 

    In addition, the emphasis will also be on combating climate change, which has devastating consequences for food security in developing countries.

    South Africa also hopes to address issues of predatory mining by some countries and corporations, in the quest for Africa’s raw materials and critical minerals. 

    “South Africa will take forward the outcomes of the report of the UN Secretary’s Panel on Critical Energy Transition Minerals,” Lamola said, adding that strengthening the Multilateral Trading System was also key.

    The other key issues the nation will advance include industrialisation, employment and inequality, food security, the blue economy and artificial intelligence. 

    Lamola took the time to commend Brazil President Luiz Inácio Lula da Silva’s call, as the G20 President, for the reinvigoration of multilateralism, and the reform of global governance institutions to make it more representative and inclusive.

    “We further thank Brazil for its innovative leadership in calling for this G20 meeting and inviting all UN Members.

    “This meeting today and its call to action further demonstrates the collective global solidarity in addressing current and future global challenges. South Africa will carry forward the momentum laid by Brazil on the reform of the multilateral institutions,” Lamola said. 

    Meanwhile, he said that South Africa’s G20 Presidency will mark the end of the first cycle of G20 Presidencies. 

    “We intend to undertake a review of the first cycle of G20 Presidencies. This is critical to ensure implementation. Brazil can count on us to maintain the momentum they’ve started I thank you for your attention,” he added. 

    President Cyril Ramaphosa expressed his appreciation to Brazil as the current President of the G20 for convening this meeting.

    The President also commended the excellent way Brazil has been steering the work of the G20 during its Presidency.  – SAnews.gov.za

    MIL OSI Africa –

    January 22, 2025
  • MIL-OSI Translation: ASIA/HOLY LAND – Cardinal Pizzaballa: October 7th is a day of prayer and fasting to invoke peace

    MIL OSI Translation. Region: Italy –

    Source: The Holy See in Italian

    Thursday, September 26, 2024

    Latin Patriarchate of Jerusalem

    Jerusalem (Agenzia Fides) – A day of prayer, penance and fasting to invoke the gift of peace in the Holy Land exactly one year after the rekindling of the conflict between Israel and Palestine. The initiative was launched by Cardinal Pierbattista Pizzaballa, Latin Patriarch of Jerusalem, through a letter addressed to the entire Diocese of the Latin Patriarchate of Jerusalem. “The month of October is approaching, and with it the awareness that for a year the Holy Land, and not only, has been plunged into a vortex of violence and hatred never seen and never experienced before. In these twelve months we have witnessed tragedies that, due to their intensity and impact, have deeply torn our conscience and our sense of humanity,” writes the cardinal, calling “once again on governments and those who have the grave responsibility of decisions to a commitment to justice and to respect for the right of each person to freedom, dignity and peace.” “I invite you, therefore, to a day of prayer, fasting and penance, for the next 7th October, a date that has become symbolic of the drama we are experiencing. The month of October is also the Marian month and on 7th October we celebrate the memory of Mary Queen of the Rosary,” the appeal of the Patriarch, who adds: “Each one, with the rosary or in the ways he deems appropriate, personally but even better in community, find a moment to stop and pray, and bring to the ‘merciful Father and God of all consolation’ (2 Cor 1:3), our desire for peace and reconciliation.” At the bottom, the cardinal also attaches a prayer, composed ad hoc, “to be used freely”. Below is the text:Lord our God, Father of the Lord Jesus Christ and Father of all humanity, who in the cross of your Son and through the gift of his own life at great cost wanted to destroy the wall of enmity and hostility that separates peoples and makes us enemies: send into our hearts the gift of the Holy Spirit, so that he may purify us from every feeling of violence, hatred and revenge, enlighten us to understand the irrepressible dignity of every human person, and inflame us to the point of being consumed for a world at peace and reconciled in truth and justice, in love and freedom.Almighty and eternal God, in your hands are the hopes of men and the rights of every people: assist with your wisdom those who govern us, so that, with your help, they may become sensitive to the sufferings of the poor and of those who suffer the consequences of violence and war; make them promote in our region and throughout the earth the common good and a peace lasting.Virgin Mary, Mother of hope, obtain the gift of peacefor the Holy Land that gave birth to youand for the whole world. Amen.(Agenzia Fides 26/9/2024)Share:

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

    January 22, 2025
  • MIL-OSI: DTE Energy breaks ground on three new solar parks, all funded by company’s MIGreenPower program

    Source: GlobeNewswire (MIL-OSI)

    Detroit, Sept. 26, 2024 (GLOBE NEWSWIRE) — DTE Energy (NYSE:DTE), Michigan’s largest producer of and investor in renewable energy, today announced that it has broken ground on three new solar parks in the last four months, in response to growing customer support for clean, renewable energy. The Fish Creek and Mission Road solar parks, located in mid-Michigan, and the Little Trout Solar Park, located in northern Michigan, are all funded by customers who voluntarily enrolled in DTE’s CleanVision MIGreenPower program.

    In addition to the three solar parks referenced above, three other solar parks funded through MIGreenPower are currently under construction. Together, all six developments will add 800 megawatts to DTE’s renewable energy portfolio, enough to power more than 220,000 homes. These solar developments are yet another step toward the company’s goal of achieving net zero carbon emissions and reaching Michigan’s new renewable energy standard of 60% by 2035.

    “It’s an exciting time for DTE’s clean energy journey as we continue to make industry-leading advancements in our renewable energy portfolio and overall sustainability goals,” said Joe Musallam, vice president, renewable energy development, DTE Energy. “We’ll continue to build on this momentum with additional renewable energy developments in the coming years, so we not only meet Michigan’s aggressive renewable energy standard but also deliver on our commitment to a cleaner future for our customers, our communities and our state.”

    DTE already generates enough clean energy from wind and solar to power more than 750,000 homes and plans to power approximately 5.5 million homes with renewable energy by 2042. MIGreenPower is helping accelerate this clean energy transition, as DTE plans to add more than 2,400 megawatts of new wind and solar energy to support enrolled customers in the coming years. This demand for clean energy comes from nearly 100,000 residential and 1,900 business customers who are using MIGreenPower to reduce their environmental impact and meet key sustainability goals.

    “We recently enrolled in MIGreenPower to help meet our goal of achieving carbon neutrality by 2035,” said Denise Carlson, vice president of DENSO’s North America Production Innovation Center and leader of the Sustainability Promotion Department. “We’re proud that our participation not only makes operations cleaner at our enrolled facilities, but also supports future wind and solar park developments, enhancing clean energy access across Michigan.”

    DTE’s investment in renewable energy is delivering cleaner energy to customers while strengthening Michigan’s economy. Since 2009, the company’s renewable energy developments have created an estimated 20,000 local jobs. Additionally, communities that host DTE’s wind and solar parks receive millions of dollars in added tax revenue over years of operation, funding used for roads, schools, first responders and other vital community services. DTE is proud to play a role in helping Michigan communities thrive as the company works to create a more sustainable future for all.

    About DTE Energy
    DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, x.com/dte_energy and facebook.com/dteenergy.

    The MIL Network –

    January 22, 2025
  • MIL-OSI Translation: In the mysteries of the operating room, jobs with high employability potential

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Canton Government of Geneva in French

    Focus on two complementary medical-technical professions: operating room technician and medical device technologist.

    Start of the day in the operating room. The operating room technician (OT) goes through the patient’s file being cared for by the care team. In this work, it is essential to be prepared for any eventuality, to think about the complications that may arise during a surgical procedure.

    The TSO is one of the links in the treatment chain, guaranteeing hygiene, safety and good care. This is why checking the patient’s identity and identifying any allergies and medical history are the first essential steps before any procedure in the operating room. Then, she puts on her sterile pajamas and proceeds to surgical hand washing.

    Unite around the patient

    Continuation of the adventures in the operating room. The final preparations are finalized: the surfaces disinfected, the devices necessary for the intervention checked.

    The operation can then begin. Silence takes over the operating room. The interdisciplinary team is focused, hypervigilant. “Like an orchestra conductor, the TSO coordinates each step precisely,” explains Luzia Stettler, a teacher at the École supérieure de la santé. “She anticipates the surgeon’s actions by presenting him with the instruments and, in particular, guarantees that the operations go smoothly. Given the complexity of the profession, it requires three years of higher education after a secondary II diploma.”

    Now comes the reprocessing of medical devices, “an activity that occurs after their use on the patient,” explains Hervé Ney, sterilization expert at HUG and president of the Swiss Society for Hospital Sterilization. Coordination between TSOs and medical device technologists is therefore essential.”

    During this time

    A stone’s throw from the operating room, Djésika Anani is busy at Steriswiss, an outsourced sterilization company for clinics and medical centers. She is an apprentice medical device technologist (MDT) in her third and final year. A job that is also behind the scenes, straddling care and technology.

    After the crucial step of hand washing, she puts on her personal protective equipment and joins the sterilization team. Sorting, washing, disinfecting, packaging and sterilizing the medical instruments used now hold no more secrets for the apprentice.

    “After the TSO sends the used equipment for sterilization, there are several steps in three separate areas, from the dirtiest to the cleanest,” Djésika specifies. “In a rigorously followed order, we check the proper functionality and cleanliness of the medical devices after they have passed through the washer-disinfector. Then, we package them and sterilize the instrument sets that will be part of the surgeon’s instrument tray.”

    Four hours have passed since the beginning of the day. Time for the new patient.

    “All TSO ES students find a job before the final exams”

    Three questions for Luzia Stettler, TSO teacher at the École supérieure de la santé.

    Can a medical device technologist (CFC) continue in the “higher education” program as an operating room technician?

    Yes, directly after validating their CFC. Currently, we have two students who have gone through this route. They are exempt from courses and exams concerning sterilization, which represents an entire module (out of the nine in the training plan).

    What about employability?

    100%! All TSO ES students find a job before the final exams, as the shortage of manpower in care, and particularly in the operating room, is significant.

    Are there other opportunities to enter such a profession?

    Of course! However, you don’t improvise as a TSO: providing patients with services with a high degree of quality and safety remains our leitmotif. Nursing graduates who wish to specialize in the operating room field can have their acquired experience recognized and valued, thus validating one year of TSO training, and therefore train in two years. Exemptions are also possible for people who have worked in the operating room for several years and do not have an officially recognized qualification.

    Career focus dedicated to medical-technical care.

    Operating room professionals, TSO students and TDM apprentices will share their experience on Wednesday, October 9 between 2 p.m. and 4:30 p.m. at the Geneva University Hospitals (HUG), at 4, rue Gabrielle-Perret-Gentil, in Geneva. Zoom professions by registration (45 places).

    To learn more and register: http://www.devenirtso.ch

    All information on vocational training:http://www.citedesmetiers.ch

    Text: Laurie Josserand, OFPC-SISP, DIP / Photo: Laurent CrottetArticle also published in the Tribune de Genève on September 26, 2024

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

    January 22, 2025
  • MIL-OSI Russia: Construction of a motorway continues in the Shcherbinka district

    MIL OSI Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    The highway in Shcherbinka from Yuzhnaya Street to Zalineyny Lane is a quarter complete. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “Since joining Moscow, more than 400 kilometers of roads have been built and reconstructed in TiNAO. And we continue to actively develop the transport framework of the new districts. One of the projects that we are implementing today is a four-lane highway from Yuzhnaya Street to Zalineyny Lane in Shcherbinka, near Varshavskoye Shosse with exits to this highway. The length of the facility will be about three kilometers, now it is 25 percent ready. Thus, the embankment has been fully prepared, the road surface is being laid and utility lines are being installed,” said Vladimir Efimov.

    Thanks to the new road, residents will find it convenient to leave Shcherbinka for Varshavskoe Shosse. In addition, it will be easier to get from the eastern part of the city to the Ostafyevo platform of the second Moscow Central Diameter.

    “During the work, Yuzhnaya Street and Zalineyny Lane will be widened to four lanes – two in each direction. A U-turn for public transport will be built near the Ostafyevo railway platform. Also, as part of the project, a pedestrian sidewalk and a bicycle path will be installed, and outdoor lighting will be installed along the highway,” said the head of the Department for the Development of New Territories of the City of Moscow.

    Vladimir Zhidkin.

    The route will be equipped with traffic lights. After the main works are completed, the adjacent territory will be landscaped, including near Yashkin Pond.

    Earlier, Sergei Sobyanin opened new site the main highway of TiNAO Solntsevo – Butovo – Varshavskoe shosse. In 2026, the highway will be connected to the Moscow High-Speed Diameter. As a result, traffic without traffic lights will be organized from New Moscow through the entire city to Leningradskoe shosse and the overpass that leads to St. Petersburg.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/144508073/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

    January 22, 2025
  • MIL-OSI Russia: New directions, “Longevity exercises” and star guests: how the summer season of the “Moscow Longevity” project went

    MIL OSI Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Every senior Muscovite can fill their lives with bright events. This summer, participants in the Moscow Longevity project attended training sessions with famous athletes, met with actors and writers, went kayaking and SUP boarding, went Nordic walking, opened an exclusive route along Arbat, and participated in many other events.

    In 2024, the project’s summer season lasted four months, thanks to September being one of the warmest in the history of the capital.

    Training with celebrity guests and outdoor activities

    One of the most striking events of the summer season was the “Longevity Exercises”. For 17 weeks, senior citizens participated in morning warm-ups at sites organized in all districts, including in iconic places of the capital – for example, on Sparrow Hills, near the Bolshoi Theater and at the Northern River Terminal. During this time, 87 training sessions were held, which were attended by more than 14 thousand people.

    Once a week, the “Longevity Exercises” were held by invited guests, including Roman Kostomarov, Evgenia Medvedeva, Tatyana Totmianina, Ilya Averbukh, Alexey Nemov, Alexey Yagudin, Artur Dalaloyan, Irina Slutskaya, Nikita Nagorny, Daria Dontsova, Anna Semenovich, Elizaveta Tuktamysheva, Elena Vorobey, Yulia Mikhalkova.

    Participants of the “Longevity Exercises” mastered qigong, attended dance training, classes with gymnastic ribbons, and even warm-ups with drums.

    Throughout the summer, outdoor activities were held for senior citizens in more than 1,500 groups at 800 outdoor venues throughout the city – at the Moscow Zoo, the equestrian club, parks, the City Farm at VDNKh, and other places.

    New water directions

    In July, the Moscow Longevity project opened classes in SUP surfing and kayaking for the first time. About 1,500 senior Muscovites learned the history of these sports and learned how to operate watercraft.

    The classes took place in the waters of the Moscow River at the Academy Rowing Club under the guidance of experienced coaches. Despite the fact that SUPs and kayaks are considered popular among young people, the groups in these areas already broke the record for the number of older participants in the first days.

    SUP and kayak rowing classes will be held for the first time as part of the Moscow Longevity project

    Unique route

    In August, a new exclusive excursion route, “Not Old Arbat”, was opened for participants of “Moscow Longevity”. It was created especially for the project by writer and Moscow expert Alexander Vaskin and is dedicated to long-livers whose fate was connected with the most famous pedestrian street of the city.

    Philosopher, polar hero and Russian Rodin: what participants of the excursion “Not Old Arbat” can learn

    The walk includes nine thematic points, each of them is connected with the biographies of famous long-livers: writers, actors, sculptors and composers. For example, the excursionists learned about the philosopher Alexey Losev, who continued to pass on knowledge to his students until his last days, and the writer Marietta Shaginyan, who never abandoned her favorite work.

    The guides were the participants of Moscow Longevity themselves, who had completed training at the Silver University in the field of Excursion Guidance. 11 graduates mastered a new profession, were employed in the project and regularly conduct excursions for groups.

    Fashion collections about family, city and future

    This summer, the project held its fourth season of creative laboratories “Designers’ Workshop”, dedicated to the Year of the Family. The final show, held at the forum-festival “Territory of the Future. Moscow 2030” in Gostiny Dvor, was attended by more than 600 people, another 135 thousand watched the live broadcast of the show.

    Participants of “Moscow Longevity” under the mentorship of five famous fashion designers – Leonid Alekseev, Igor Gulyaev, Denis Eremkin, Ksenia Novikova and Vadim Merlis – created five clothing collections. They were demonstrated on the podium by “silver” age models from the beauty and style school “Royal Posture”.

    The Family Albums line is based on the 1970s style, with prints on clothes that bring to life photographs of the designers’ grandparents, fathers and mothers. The creators of the feminine and elegant Mom collection were inspired by touching memories. Each participant imagined her mother, images from her youth. The Bright Age, Urban Romance and We Are 2030 collections are dedicated to the future, the city and longevity. Bright textured fabrics and artificial intelligence capabilities were used in their creation.

    New spaces for healthy living and socializing

    The network of Moscow longevity centers continues to expand: 14 spaces opened this summer, now there are 134. Older city residents can do their favorite things in a circle of like-minded people, communicate and lead a healthy lifestyle. Since September 1, the centers have switched to a new, convenient work schedule.

    Along with the expansion of the network of centers, new services are also appearing in them. Thus, since this summer, they have been providing consultations on obtaining electronic government services. In each center, city residents can find out how to apply for 71 government services, including obtaining a Muscovite social card, a spa voucher, or housing subsidies.

    Bright events of the summer season

    Muscovites of the “silver” age celebrated the middle of summer at the festival “Long-lasting Moscow”, which took place on Vorobyovy Gory and brought together more than three thousand guests.

    The most popular outdoor classes of Moscow Longevity were held on one site – dancing, Nordic walking, drawing, as well as Longevity Exercises, educational lectures and much more.

    One of the central events was a mass gathering of Nordic walking enthusiasts, in which even city residents over 90 years old took part. A choreography master class for guests was conducted by dancer Evgeny Papunaishvili, and in the open air one could compete in drawing caricatures of singer Anna Semenovich and writer Daria Dontsova.

    The combined choir of the Moscow Longevity project performed at the Spasskaya Tower International Military Music Festival on Red Square. A program of 13 songs was presented by 350 people. The choir was accompanied by the Central Military Orchestra of the Russian Ministry of Defense under the direction of Honored Artist of Russia Colonel Sergei Durygin.

    The combined choir of the Moscow Longevity project performed at the Spasskaya Tower festival

    In addition, this summer the group gave five master classes. Choirmasters held open vocal lessons, where they introduced guests to the techniques and methods of choral singing.

    In July, the Sokolniki Park hosted the “Dance Stories of Moscow Longevity” festival. One of the main events was the “Purple Waltz” flash mob, which brought together 500 senior citizens. On this day, people of different ages took to the dance floor – from 55 to 90 years old, and the oldest was 90-year-old project participant Valentina Semenova. A competition was also held: 18 couples and 10 groups competed for the title of the best dancers of the project.

    “Boulevard of Moscow Longevity”

    One of the most striking expositions of the forum-festival “Territory of the Future. Moscow 2030” in Gostiny Dvor was “Boulevard of Moscow Longevity”. Guests immersed themselves in a multimedia space dedicated to a healthy lifestyle and learned how to maintain activity, stay young and happy for many years. During the days of the forum-festival, over 50 thousand people looked into the future, making a “Portrait of Longevity” with the help of neural networks. Guests also walked about seven thousand virtual kilometers on the excursion “Not Old Arbat”, almost 15 thousand visitors participated in a sociological survey, which helped to find out how different generations of Muscovites relate to longevity.

    Ahead of the city residents there is an equally busy autumn-winter season. All Muscovites of the “silver” age – women from 55 years old and men from 60 years old – can join the “Moscow Longevity” project. You can sign up at any Moscow Longevity Center or the “My Documents” government services center, as well as online on the mos.ru portal.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/144450073/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

    January 22, 2025
  • MIL-OSI Video: Secretary Blinken hosts a Ministerial on Addressing the Urgent Situation in Venezuela – 9:00 AM

    Source: United States of America – Department of State (video statements)

    Secretary of State Antony J. Blinken hosts a Ministerial on Addressing the Urgent Situation in Venezuela in New York City, New York, on September 26, 2024.
    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at http://www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
    Twitter: https://twitter.com/StateDept
    Instagram: https://www.instagram.com/statedept
    Flickr: https://flickr.com/photos/statephotos/

    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: http://ow.ly/diiN30ro7Cw

    State Department website: https://www.state.gov/
    Careers website: https://careers.state.gov/
    White House website: https://www.whitehouse.gov/
    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=BSychEC_nQE

    MIL OSI Video –

    January 22, 2025
  • MIL-OSI NGOs: Egypt: Ensure Alaa Abdel Fattah is not detained after completing length of unjust prison term

    Source: Amnesty International –

    Egyptian authorities must immediately and unconditionally release Egyptian-British activist Aala Abdel Fattah who will have completed the length of his unjust five-year prison sentence in three days on 29 September, said Amnesty International today.

    In reprisal for his activism, Egyptian authorities last arrested Alaa Abdel Fattah on 29 September 2019, and subsequently, following a grossly unfair trial, sentenced him to five years in prison on charges including “spreading false news.” There is a risk that the authorities will refuse to release the prominent political activist, despite having served the full five years in prison, by refusing to count time spent in pre-trial detention as part of his prison sentence already served.

    “Alaa Abdel Fattah has spent most of the last decade being repeatedly arrested and unjustly imprisoned simply for peacefully exercising his human rights. He is a prisoner of conscience – he should never have been forced to spend a single minute behind bars. The prospect that the authorities could further extend his unlawful imprisonment instead of releasing him is appalling,” said Mahmoud Shalaby, Amnesty International’s Egypt Researcher. 

    “Egyptian authorities have a dreadful track record of indefinitely detaining political dissidents by concocting new reasons to keep them locked up. If the authorities fail to release Alaa Abdel Fattah this would further compound the cruelty and injustice he has already suffered in custody. The Egyptian authorities must immediately and unconditionally release him and allow him to reunite with his loved ones at long last.”

    The authorities may also seek to extend his arbitrary detention by bringing fresh charges against him – Egyptian authorities have a track record of indefinitely detaining individuals imprisoned for political reasons by bringing new bogus identical or similar charges, even after a court has ordered their release or they have completed their sentence; an abusive practice known as “rotation”.

    For years Alaa Abdel Fattah was detained in deplorable conditions and security officials subjected him to torture and other ill-treatment in custody. Following a public outcry, he was transferred to Wadi al-Natroun Prison in May 2022 where his health and detention conditions improved. It was only recently that authorities finally allowed him access to reading material as well as television and written correspondence.

    However, prison authorities have continued to deny him access to fresh air and sunlight for the past five years,  only allowing him to exercise in an indoor hall. Authorities also continue to deny him access to his lawyer as well as to consular visits from the British authorities.

    On 20 December 2021, an Emergency State Security Court (ESSC) convicted Alaa Abdel Fattah on charges including “spreading false news” and sentenced him to five years in prison following a grossly unfair trial in reprisal for his activism. Human rights lawyer Mohamed Baker and blogger Mohamed Radwan “Oxygen” were also convicted on similar charges and sentenced to four years in prison. On 19 July 2023, following sustained campaigning for his release, Mohamed Baker received a presidential pardon after nearly four years of arbitrary detention.

    Background

    Alaa Abdel Fattah is a prominent political activist and government critic who has been targeted for his role in the 2011 uprising. He is among thousands of individuals who continue to be arbitrarily detained without legal basis in Egypt solely for exercising their human rights and/ or following proceedings violating fair trial rights. 

    Since President Abdel Fattah al-Sisi’s reactivation of the Presidential Pardons Committee (PPC) in April 2022, the Egyptian authorities released hundreds of individuals held for political reasons, including prominent activists, but Alaa Abdel Fattah was excluded from this process. Egyptian authorities continued to carry out arrests of actual or perceived critics amid an unrelenting crackdown on dissent.

    MIL OSI NGO –

    January 22, 2025
  • MIL-OSI Africa: KZN teams on standby ahead of predicted adverse weather

    Source: South Africa News Agency

    The KwaZulu-Natal provincial government has announced that highly efficient and dedicated teams are on standby with an expected drop in temperatures later this week, with a possibility of snow.

    While the South African Weather Service (SAWS) has not issued an official weather warning, the weather service predicts the possibility of snow over the high lying areas of the Western Cape from 29 September 2024, which will spread into the Eastern Cape and KwaZulu-Natal by 30 September 2024.

    Addressing a media briefing on Thursday, KwaZulu-Natal MEC for Transport and Human Settlements Siboniso Duma said the Road Incident Management Systems (RIMS) led by South African National Roads Agency Limited (SANRAL) comprising of all key role players on the national, provincial, and municipal road networks were putting together a consolidated plan.

    “They are identifying areas where joint operations and coordination will be established – covering all notorious roads and areas identified from past experiences. 

    “The department’s Road Traffic Inspectorate is establishing a satellite centre on top of Van Reenen’s Pass to ensure quick action and road closure to mitigate against people getting trapped in the snow,” the MEC said.

    This satellite centre will start operating on Saturday afternoon and operate on a 12-hour shift.

    Traffic law enforcement officials are already involved in the coordination of possible road closures and observation of major routes in consultation with the N3 Toll Concession. 

    “The focus is on the N3 between Harrismith, Tugela Toll, R617 between Kokstad and Underberg, N2 Ingeli and N3 Mooi River, and others. We wish to indicate that the team will also be responsible for escorting trucks and vehicles to ensure that there is no congestion on the road. 

    “However, members of the public and motorists are urged to reschedule or postpone their journeys in anticipation of any eventuality. Prevention is better than cure.

    “Motor graders are currently being sharpened to respond with … urgency to remove any snow before accumulating on the road. More than 10 graders will be stationed in identified routes to ensure that our response is faster,” the MEC said.

    The province has 21 graders which will be on standby as part of strengthening prevention measures.

    “On Wednesday, we interacted with SAWS. They informed us that KwaZulu-Natal will be affected by snowfall from Monday into Tuesday. The areas that are expected to be affected include Ladysmith, Underberg, Drakensberg as well as Giant Castle, and other high-ground area.

    “In addition, they emphasised that, in all likelihood, snowfall will stop on Tuesday but will be followed by rainfall in various parts of the province, including Durban and other coastline areas,” Duma said.

    The MEC said the provincial government has started engaging with key stakeholders to ensure that everyone works together to avoid any crisis and ensure the safety of road users.

    “We have continuous engagements with road freight industry stakeholders such as operators – trucking companies – companies that are managing and supplying drivers.

    “The South African National Taxi Council and bus councils, bus and truck associations are key stakeholders as we strengthen our road safety measures. We do not want to leave out port operators and the entire value chain of fast-moving consumer goods,” Duma said.

    The provincial government has assigned engineers in consultation with SANRAL to look at the impact of the recent heavy snowfall on the road infrastructure.

    “The truck congestion on N3 last weekend compels us to intensify our plans aimed at modernisation and development of rail transport – both freight and passenger.

    “Working with the Minister of Transport Barbara Creecy, the Passenger Rail Agency of South Africa (PRASA) and other main roleplayers, as KwaZulu-Natal we believe that we must ensure that we deploy wagons to move cargo from road to rail, with a specific focus on certain goods, such as coal.

    “In addition, we want to improve rail services in the province so that it could serve as the backbone of public transport while at the same time recognising the huge challenges currently facing commuter rail services in KwaZulu-Natal and throughout the country,” he said. – SAnews.gov.za

    MIL OSI Africa –

    January 22, 2025
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