“ACT welcomes the Solicitor-General withdrawing recently published prosecution guidelines, which did not reflect the Government’s values of treating New Zealanders equally regardless of their race,” says ACT Leader David Seymour.
“The proposed guidelines were totally inconsistent with the values of a civilised country where everyone is equal before the law.
“This change shows our Government is committed to the most Kiwi of values; no matter who you are or how you were born, you deserve the same equal rights, choices and chances at life.
“It also shows New Zealand is getting the real change we voted for, last year.
“I respect the autonomy and independence of the Solicitor-General, but the Government has set a clear direction where racial discrimination is not acceptable, no matter how deeply embedded in the public service it is.
“This kind of divisive policy rained down in buckets, unchallenged, and uncorrected by the previous Government. Now we have a Government committed to equal rights for all. The Need Not Race cabinet circular negotiated by ACT underlines that commitment.
“ACT called out these guidelines as soon as we became aware of them, including raising the issue with the Attorney-General. We are welcome the swift response, preventing what would have otherwise been an egregious breach of the foundational principles of our country.
“We fund Crown prosecutors to deliver justice without fear nor favour. The updated Prosecution Guidelines must reflect that and uphold the principle of equality before the law.”
The Albanese Government has announced that Scyne Advisory will conduct a trial of fixed voice services and consider the performance of Low Earth Orbit Satellites (LEOSats) to inform the Government’s work to improve mobile connectivity for more Australians. Scyne Advisory will independently deliver the fixed voice service trials, with work already underway to progressively set up trial sites across 50 regional and remote locations across Australia. The trials will track the reliability and quality of voice calls, and test impacts of weather conditions on services. Data from the trial will also help the Albanese Government to better understand how LEOSat services perform to support voice services across a representative range of regions across Australia, including over the northern Australia wet season. Existing NBN Co fixed wireless and satellite services will also be trialled in parallel to provide a comparison. Data collected will be independent of industry and be made publicly available next month. The Government has also today released a summary of feedback received from stakeholders through recent public consultation on modernising delivery and funding of universal telecommunications service arrangements. Overall, the public consultation process demonstrated there is support for change to universal service arrangements to better reflect evolving consumer needs and the emergence of new alternative technologies. Stakeholders suggested a more flexible and technology-neutral approach would be preferable, including to adopt modern networks and services that are best suited to each premises, and to future-proof arrangements. There was also general agreement that simpler funding arrangements would better reflect the market and enable greater efficiency and sustainability. While the Government is yet to make a decision on how to best modernise the Universal Service Obligation, feedback received from stakeholders is being taken into consideration and will be considered alongside the trial data to help inform next steps. For more information, and to view the summary paper, visit:http://www.infrastructure.gov.au/media-communications-arts/modernising-universal-telecommunications-services Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP: “The Albanese Government is committed to modernising telco services in the interest of all Australians, particularly those living in rural and regional Australia, and I look forward to data from the trials helping us to consider and deliver a more modern and effective universal service framework.” “The Government has been clear it will proceed on a consultative and transparent basis. Stakeholder views on delivery and funding issues will be carefully considered to help inform future decisions on a more modern and fit for purpose framework. “The Government’s focus is that universal service arrangements continue to deliver for consumers, can be more flexible to accommodate changes, and that we have related funding arrangements for baseline services that are efficient and sustainable.”
We took over administration of early release of super on compassionate grounds on 1 July 2018.
We only approve a release of super on compassionate grounds if you meet all conditions set out in the regulations. These conditions include that you have no other means to pay the expenses.
The 5 main grounds of eligibility are:
medical treatment or transport for you or your dependant
accommodating a disability for you or your dependant
palliative care for a terminal illness for you or your dependant
funeral expenses for your dependant
preventing foreclosure or forced sale of your home.
If you apply for compassionate release of super (CRS) for medical treatment, the law states the treatment must be necessary to:
treat a life-threatening illness or injury
alleviate acute or chronic pain
alleviate acute or chronic mental illness.
To access super early for medical treatment expenses, you must provide 2 medical reports with your application. At least one of the reports must be from a specialist treating one of the above conditions.
The reports must state that the treatment is necessary to treat or alleviate one of the conditions above, and that the treatment is not readily available in the public health system.
All data shown here is current as of 27 August 2024.
The following data tables capture information about applications we have received and approved for release per financial year. We don’t have data regarding amounts released as these payments are made by super funds.
Note: One person may submit multiple applications in one financial year. There is no limit on the number of applications a person can submit.
Table 1: Total compassionate release of super applications
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
53,800
60,000
45,300
56,400
75,600
90,700
Applications approved
31,100
33,700
29,500
34,400
41,800
53,100
Individuals applied
33,800
39,100
36,300
45,600
57,800
68,900
Individuals approved
26,900
30,000
27,200
32,200
39,600
50,000
Amount approved ($m)
456.6
523.2
472.4
573.1
761.7
1,040.4
In the table above, we rounded:
applications and individuals’ data to the nearest 100
amounts approved data to the nearest $100,000.
Totals may not add due to rounding.
Table 2: Medical (includes medical treatment or transport)
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
39,100
45,500
34,800
42,600
57,700
71,900
Applications approved
26,100
30,100
27,600
32,100
39,500
50,200
Individuals applied
25,500
30,100
28,400
35,200
44,900
55,600
Individuals approved
22,700
26,800
25,400
30,100
37,400
47,400
Amount approved ($m)
389.1
476.6
447.4
544.7
730.5
1,001.0
In the table above, we rounded:
applications and individuals’ data to the nearest 100
amounts approved data to the nearest $100,000.
Table 3: Accommodating a disability
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
2,300
2,300
1,500
1,700
2,200
2,300
Applications approved
1,100
1,000
700
700
800
900
Individuals applied
1,400
1,500
1,100
1,300
1,590
1,670
Individuals approved
970
890
660
670
720
810
Amount approved ($m)
21.1
15.4
11.5
11.3
12.7
12.8
In the table above, we rounded:
applications received and approved data to the nearest 100
individuals’ data to the nearest 10
amounts approved data to the nearest $100,000.
Table 4: Palliative care for a terminal illness
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
250
205
195
215
260
290
Applications approved
110
90
45
45
35
35
Individuals applied
175
140
160
180
210
245
Individuals approved
90
65
45
40
40
30
Amount approved ($m)
1.9
1.8
0.9
1.3
0.9
0.8
In the table above, we rounded:
applications and individuals’ data to the nearest 5
amounts approved data to the nearest $100,000.
Table 5: Preventing foreclosure or forced sale of a home
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
10,500
10,300
7,300
9,700
12,400
12,900
Applications approved
2,870
1,780
560
750
710
1,100
Individuals applied
6,140
6,770
5,850
7,650
9,600
9,930
Individuals approved
2,470
1,630
540
710
680
1,040
Amount approved ($m)
35.4
22
7.2
8.9
9.7
17.1
In the table above, we rounded:
applications received data to the nearest 100
applications approved and individuals’ data to the nearest 10
amounts approved data to the nearest $100,000.
Table 6: Funeral expenses for a dependant
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
1,700
1,600
1,500
2,200
3,100
3,300
Applications approved
920
760
600
740
760
850
Individuals applied
1,190
1,160
1,240
1,790
2,340
2,410
Individuals approved
840
710
580
720
750
820
Amount approved ($m)
9
7.5
5.3
6.9
7.9
8.7
In the table above, we rounded:
applications received data to the nearest 100
applications approved and individuals’ data to the nearest 10
amounts approved data to the nearest $100,000.
Medical treatment subcategories
The data from our application process allows us to split the medical (treatment or transport) category into the subcategories listed below. While eligible medical treatment is not limited to these categories, we cannot individually identify all treatment types at a reporting level.
Table 7: Dental treatment subcategory
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
7,140
10,610
8,240
11,780
20,960
31,780
Applications approved
3,850
6,000
5,960
8,380
14,020
22,530
Individuals applied
4,310
6,720
6,500
9,720
16,260
25,070
Individuals approved
3,470
5,580
5,530
8,020
13,540
21,790
Amount approved ($m)
66.4
111.7
108.2
171.3
313.4
526.4
Table 8: IVF subcategory
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
3,380
4,250
3,700
4,150
4,290
5,200
Applications approved
2,720
3,260
3,260
3,390
3,360
4,210
Individuals applied
2,140
2,610
2,670
3,020
3,080
3,740
Individuals approved
2,080
2,490
2,580
2,750
2,780
3,460
Amount approved ($m)
36.2
40.1
42.1
45.4
47.9
64.1
Table 9: Weight loss subcategory
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
17,690
18,710
14,510
15,760
17,690
17,320
Applications approved
13,790
14,570
12,970
13,960
14,770
14,370
Individuals applied
12,920
13,920
12,900
14,160
15,170
14,780
Individuals approved
12,550
13,530
12,570
13,620
14,410
14,030
Amount approved ($m)
207.5
234.2
220
233.9
248.9
250.5
Table 10: Other medical treatment subcategory
Financial year
2018–19
2019–20
2020–21
2021–22
2022–23
2023–24
Applications received
9,880
10,980
7,970
10,400
14,030
16,880
Applications approved
5,440
6,040
5,260
6,230
7,230
8,940
Individuals applied
6,050
6,900
6,360
8,340
10,460
12,280
Individuals approved
4,580
5,340
4,870
5,830
6,830
8,320
Amount approved ($m)
74
87
75.3
92.2
118.1
156.7
‘Other’ includes all other types of medical treatment recommended by a medical practitioner.
These tables exclude applications that were solely for medical transport (totals will differ to tables above).
In the tables above, we rounded:
applications and individuals’ data to the nearest 10
These case studies show how engaging with us early and working transparently can mutually resolve tax issues prior to lodgment and help avoid tax disputes post-lodgment.
Capital gains tax case study
Three siblings each had a 33% shareholding in a family company, and 2 of them wanted to sell their shares to their brother. The family trusts controlled by the 2 siblings each disposed of their 33% ownership in the family company to their brother’s trust. This left their brother with 100% ownership of the company.
We enquired if the siblings had considered whether the market value substitution rule for capital proceeds applied. That part of the tax law has the effect of replacing the actual capital proceeds with their market value when the parties to the transaction didn’t deal with each other at arm’s length.
With advice from internal valuation advisers on whether the siblings had transacted for an arm’s length value, we concluded that the capital proceeds were below their market value. We asked the siblings for information and evidence to demonstrate that real bargaining had taken place in relation to the sale.
The 2 siblings provided a valuation of the shares that aligned with our view. They informed the case officer that their brother, who was purchasing their shares, set the price and they accepted to avoid family conflict. For this reason, the 2 siblings couldn’t provide any evidence of bargaining in relation to the terms and conditions of the sale.
With these facts, we took the position that the market value substitution rule applied. A pre-lodgment agreement was reached that the market value amount would be substituted for the capital proceeds.
Company restructure case study
A company was founded by four individuals who were looking to sell some of their business. To do this, they started trading under a new company. The shares were owned 25% each personally by the four individuals. Days later, one quarter of these shares were sold to a third party.
As part of the sale, new classes of shares were issued for $1 each (one A class share issued to the third party and one B class share issued to a family trust, controlled by the founders), with priority to dividends and other specific rights attached.
In the 2022 income year, the rights and terms attached to both the A and B class shares were altered, via a share split and variation of rights, by the ordinary shareholders in anticipation of a scheduled Special Purpose Acquisition Company (SPAC) process. Prior to this, one founder had a valuation prepared for the B class share, which determined the market value of the B class shares based on the priority dividend rights.
We examined this valuation, given our concerns over the valuation presented to us. The A and B class shares, which were split and rights varied, now had an inflated value, equal to the ordinary shares.
Several months after the share split and variation of rights, the SPAC process was successfully completed in the 2023 income year. The change in rights and share split shifted the inflated value from the initial ordinary shareholders (the individuals) to their family trust via a direct value shift.
After reviewing the general value shifting regime, with technical adviser guidance, agreement was reached that the direct value shifting rules applied to effectively deem capital gains for the four individuals in the 2022 income year. This treated it as if they had sold the shares to the trust at that point in time. This determination increased the capital gain from the client’s original position but provided tax certainty on the transaction moving forward.
Foreign resident capital gains case study
A foreign resident held shares in a listed company. The company entered a binding Scheme Implementation Deed where 100% of the ordinary shares would be acquired for non-cash consideration. A timely outcome was necessary due to an upcoming shareholder vote.
The foreign resident proposed to provide us with acceptable security equal to the agreed capital gains tax (CGT) liability, and, in return, they would receive a variation in the rate of foreign resident capital gains withholding (FRCGW) to 0%.
A preliminary assessment by the foreign resident predicted a $30 million tax liability dependent on the market value of the non-cash consideration (shares) at the time of the transaction.
Following open and transparent discussions and collaboration between us and the foreign resident’s representatives, an agreement was reached and an escrow deed was executed. Approximately $30 million in future tax payable was secured and the FRCGW rate was also varied to 0%.
Commercial deals videos
Our video resources explain the commercial deals process and the advantages of engaging with us early to get certainty of the tax implications and impacts of your transaction.
Increased certainty prior to lodgment
With certainty prior to lodgment, you can avoid potential post-lodgment tax disputes.
How to navigate your commercial deals engagement
Navigate your commercial deals engagement by preparation, commitment and transparency.
Practical certainty on your approach
Commercial deals assistance can give you practical certainty that the approach you are taking is acceptable.
Advice and assurance options for early engagement
Exploring the advice and assurance options available for early engagement.
Advantages of knowing the likely outcome
Engaging with us early gives you the advantage of knowing the outcomes you are likely to receive.
A Victorian woman has been sentenced to 4 years imprisonment, with a non-parole period of 2 years and 4 months, after she claimed nearly $600,000 in GST refunds from 27 fraudulent business activity statements lodged, contrary to section 134.2(1) of the Criminal Code (Cth).
Tahra Wyntjes was sentenced for obtaining $599,349 in fraudulent GST refunds she was not entitled to and for attempting to obtain a further $259,976, which was stopped by ATO officers. A reparation order to the value of the amount obtained was granted. This debt to the Commonwealth will be actively pursued in addition to the jail time Ms Wyntjes will serve.
Ms Wyntjes registered for both an Australian Business Number and for GST in November 2021 for a residential cleaning business. Between November 2021 and March 2022, she lodged the fraudulent business activity statements (BAS), which ATO officers quickly noticed and began investigating.
After failing to respond to ATO officers following a review on her BAS lodgments and reviewing available evidence, it was concluded that Ms Wyntjes was not carrying on a genuine business and had submitted multiple false claims for GST.
Acting Deputy Commissioner Jade Hawkins welcomed the court’s decision which serves as a warning to those who deliberately try to defraud the government for their own personal gain.
‘Not only did this individual lodge fraudulent activity statements, but she also invented a fake business in order to claim GST refunds she was not entitled to.’
‘Our message remains clear. If you don’t run a business, you don’t need an ABN and you can’t claim GST refunds. This is fraud,’ Ms Hawkins said.
For those who may be tempted to take part in these criminal activities, the ATO has sophisticated risk models and technologies to detect and prevent fraud.
This is the latest result of extensive efforts under the Australian Taxation Office (ATO)–led investigation, Operation Protego, which was initiated in response to calculated GST fraud.
‘GST fraud is not a victimless crime – those who steal funds from the community that would otherwise be used for essential services will face severe consequences including jail sentences for serious offenders,’ Ms Hawkins said.
This matter was prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP) following a referral from the ATO.
As part of Operation Protego, the ATO has taken action against more than 57,000 alleged offenders, and those involved in this fraud have already been handed in the order of $300 million in penalties and interest.
As of 30 September 2024:
104 people have been arrested.
59 people have been convicted with a range of sentencing outcomes, including jail terms of up to 7 years and 6 months and with orders made to restrain real property.
The ATO has finalised 60 investigations and referred 51 briefs of evidence to Commonwealth Director of Public Prosecutions.
The ATO also supports Operation Protego investigations which are led by local law enforcement agencies rather than the SFCT.
You can confidentially report suspected tax crime or fraud to us by making a tip-off online or calling 1800 060 062.
By the end of the Q3 2024, Coop Pank had 202,000 customers, increased by 6,000 customers in the quarter (+3%) and by 27,000 in the year (+15%). The bank had 90,100 active customers, increased by 600 (+1%) in the quarter and by 12,700 (+16%) in the year.
In Q3 2024, volume of deposits in Coop Pank increased by 99 million euros (+6%), reaching total of 1.84 billion euros. Deposits from private clients increased by 9 million euros: demand deposits increased by 3 million euros and term deposits increased by 6 million euros. Deposits from domestic business customers increased by 11 million euros: demand deposits increased by 17 million euros and term deposits decreased by 6 million euros. Deposits from the international deposit platform Raisin and other financing increased by 79 million euros. Compared to Q3 2023, volume of Coop Pank’s deposits has increased by 132 million euros (+8%). In an annual comparison, share of demand deposits of total deposits has increased from 31% to 32%. In Q3 2024, the bank’s financing cost was 3.3%, at the same time last year the financing cost was 2.9%.
In Q3 2024, net loan portfolio of Coop Pank increased by 40 million euros (+2%), reaching 1.66 billion euros. The volumes of home loan portfolio increased by 31 million euros (+5%), the volumes of business loan portfolio increased by 4 million euros (+1%), the leasing portfolio increased by 3 million euros (+2%) and consumer finance portfolio increased by 1 million euros (+1%). Compared to Q3 2023, total loan portfolio of Coop Pank has increased by 167 million euros (+11%).
In Q3 2024, overdue loan portfolio of Coop Pank increased from the level of 2.2% to the level of 2.4%. A year ago, overdue loan portfolio was at the level of 2.1%.
Impairment costs of financial assets in Q3 2024 were 1.0 million euros, which is 0.2 million euros (-17%) less than in the previous quarter and 0,3 million euros (-21%) less than in Q3 2023.
Net income of Coop Pank in Q3 2024 was 21.2 million euros, increasing by 4% in a quarterly comparison and decreasing by 7% in an annual comparison. Operating expenses reached 10.3 million euros in Q3, operating expenses increased by 2% in the quarterly comparison and 14% in the annual comparison.
In Q3 2024, net profit of Coop Pank was 8.6 million euros, which is 8% more than in the previous quarter and 22% less than a year ago. In Q3 2024, cost to income ratio of the bank was 48% and return on equity was 17.3%.
As of 30 September 2024, Coop Pank has 36,400 shareholders.
Margus Rink, Chairman of the Management Board of Coop Pank, comments the results:
“At the beginning of September, the 200,000th customer joined Coop Pank. We continue to rapidly grow our customer base: an average, the number of our customers increases by nearly 2,000 and the number of customers actively using our services by nearly 1,000 every month.
In the third quarter, the growth of Coop Pank’s loan portfolio was driven by private customer home loans. The growth of the business customers loan portfolio was modest. Over the year, the loan portfolio of private and business customers of Estonian banks has grown by nearly 6% (€1.6 billion), while the loan portfolio of Coop Pank has grown by nearly 11% (€167 million). Thus, Coop Pank’s loan volumes grow twice as fast as the market.
The quality of the loan portfolio continues to be very good, and the long stagnation in the economy has not affected the payment behaviour of customers.
The interest rate environment is in a downward trend. Since the fall of last year, the 6-month Euribor has fallen by almost 1 percentage point (from 4.1% to 3.1%). Interest on deposits has also responded: the interest paid on annual deposits has decreased by 1 percentage point (from 4.3% to 3.3%). As a result of the mentioned trends, our net interest margin fell from 4.4% to 3.9% during the year. In a falling interest rate environment, the bank’s revenues can only grow at the expense of the growth of business volumes, and that is how it has been at Coop Pank.
In summary, with the bank’s performance indicators, after the extraordinary year of 2023 with high interest levels, we are back in reality, i.e. at the level of 2022. According to Coop Pank’s long-term goals, our cost-income ratio is below 50% and our return on equity is above 15%.”
Income statement, in th. of euros
Q3 2024
Q2 2024
Q3 2023
9M 2024
9M 2023
Net interest income
20 021
19 319
21 257
58 420
60 672
Net fee and commission income
1 040
1 000
1 147
3 054
3 359
Net other income
167
146
334
438
758
Total net income
21 228
20 464
22 738
61 912
64 789
Payroll expenses
-6 138
-5 858
-5 297
-17 405
-14 739
Marketing expenses
-593
-775
-630
-1 902
-1 676
Rental and office expenses, depr. of tangible assets
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 202,000 daily banking clients. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.
On 17.10.2024, EfTEN Härgmäe OÜ finalized the transaction by which the company acquired the properties located at Härgmäe Str. 8 and Piimamehe Str. 7 in Tallinn from the Conus Assets OÜ. Previously (20.09.2024), the fund has notified the stock exchange of the conclusion of a contract of sale under the law of obligations. All the agreed preconditions for the transfer of ownership and the conclusion of a real right contract have been met. The properties will be used by the logistics company ELP Logistics OÜ under a long-term lease (10+5 years).
Viljar Arakas Member of the Management Board Tel. 655 9515 Email: viljar.arakas@eften.ee
Nokia Corporation Stock Exchange Release 18 October 2024 at 08:00 EEST
Nokia announces changes to its Group Leadership Team
Nokia has decided to divide its Corporate Affairs function into two separate functions: Geopolitics and Government Relations; and Communications.
Finland’s former Ambassador to the U.S. Mikko Hautala will join Nokia as Chief Geopolitical and Government Relations Officer, and he will become a member of the Group Leadership Team.
Louise Fisk has been promoted to Chief Communications Officer and will become a member of the Group Leadership Team.
Melissa Schoeb, Chief Corporate Affairs Officer, has decided to leave the company and will step down from the Group Leadership Team.
Jenni Lukander, President of Nokia Technologies business group, has decided to leave the company and will step down from the Group Leadership Team.
Espoo, Finland – Nokia today announced changes to its Group Leadership Team. Its Corporate Affairs function, which is responsible for protecting and enhancing Nokia’s reputation, will be divided into two parts: Geopolitics and Government Relations; and Communications. Former Finland ambassador to the U.S. Mikko Hautala has been appointed Chief Geopolitical and Government Relations Officer and member of the Group Leadership Team, effective November 1, 2024. Louise Fisk has been promoted to Chief Communications Officer, and member of the Group Leadership Team, effective immediately. Chief Corporate Affairs Officer, Melissa Schoeb, has decided to leave the company, effective December 31, 2024, and step down from the Group Leadership Team immediately.
In addition, President of Nokia Technologies, Jenni Lukander, has decided to leave the company, effective December 31, 2024, and will step down from the Group Leadership Team immediately. Patrik Hammaren, who is currently Chief Licensing Officer, Wireless Technologies, will assume an interim role leading Nokia Technologies and will be a member of the Group Leadership Team as the search commences for Lukander’s successor.
“Jenni has been a valued member of the Group Leadership Team and played a crucial role in securing the long-term stability of our Technologies business, building a solid foundation for the future. The business group will now move into the next phase of its growth journey. I’m grateful for Jenni’s contribution to Nokia over the past 17 years and for her support during the upcoming transition. I wish her all the best for the next chapter of her career,” said Pekka Lundmark, President and CEO of Nokia.
As the impact geopolitics has on Nokia’s business continues to grow, the company has taken the decision to establish the new role of Chief Geopolitical and Government Relations Officer. Mikko Hautala has been appointed to this role and will be based in Espoo, Finland, reporting to Pekka Lundmark.
Hautala is a highly respected diplomat with over two decades of government experience in prominent roles across the world. He served as Finland’s ambassador to the United States between 2020 and 2024. Prior to that, he was the Ambassador of Finland to Russia between 2016 and 2020, and has held a range of government roles, including foreign policy advisor to Finland’s former President Sauli Niinistö.
“Mikko’s vast experience, excellent networks and deep understanding of international diplomacy will be hugely valuable to Nokia as geopolitical factors and government policies increasingly shape our operating environment. I’m excited to welcome Mikko to the Nokia team and believe his unique strategic perspective will help strengthen our positioning in our key markets,” said Lundmark.
“I am extremely delighted to join Nokia’s leadership team at the moment when geopolitical and strategic considerations matter more than ever. Navigating the right path under these conditions is demanding, but offers great potential for sustainable business growth,” said Hautala.
As Nokia continues to strengthen its position and expand into new markets, the company has promoted Louise Fisk to Chief Communications Officer. She will continue to be based in London, U.K. and report to Pekka Lundmark. Fisk’s previous role at Nokia was VP, Corporate Affairs Programs & Corporate Communications. Before joining Nokia, she worked in a number of senior leadership roles, including BAE Systems Applied Intelligence and Logica.
“I’m pleased to welcome Louise to our leadership team where she will further strengthen our strategic communications and brand positioning. Louise has already proven her ability to protect and enhance Nokia’s reputation and I look forward to her further developing our strategic positioning. I would also like to thank Melissa for her contribution, not least for delivering our brand refresh in 2023 to reposition Nokia as who we are today: a B2B technology innovation leader. I wish her all the best in her future endeavors,” said Lundmark.
In the new setup, Nokia’s Sustainability team, previously part of the Corporate Affairs function, will report to Chief Legal Officer, Esa Niinimäki, with immediate effect.
About Mikko Hautala:
Born: 1972
Nationality: Finnish
Education:
Master of Social Sciences (Political history), University of Helsinki
Master of Philosophy (Slavic languages), University of Helsinki
Experience:
2020–2024 Ambassador, Head of Mission, Embassy of Finland, Washington DC 2016–2020 Ambassador, Head of Mission, Embassy of Finland, Moscow
2012–2016 Foreign Policy Adviser to the President, Office of the President of the Republic of Finland, Helsinki
2011–2012 Minister, Deputy Head of Mission, Embassy of Finland, Moscow
2007–2011 Diplomatic Adviser to the Minister of Foreign Affairs, Ministry for Foreign Affairs, Helsinki
2002–2007 First Secretary, Permanent Representation of Finland to the EU, Brussels
2001–2002 Attaché, Ministry for Foreign Affairs, Helsinki 1999–2001 Attaché, Embassy of Finland, Kyiv
1998–1999 Visa Officer, Embassy of Finland, Kyiv
1998 Market Analyst, Kazakhstan, Oy Sinebrychoff Ab, Helsinki
1997 Trainee, Embassy of Finland, Kyiv
Additional positions:
Board Member Support for Finnish Society (SYT) foundation.
Chairman John Morton Center for North American Studies Board. University of Turku.
About Louise Fisk:
Born: 1976
Nationality: British
Education:
Advanced executive leadership development, DUKE University.
Advanced global leadership, INSEAD business school
Post graduate diploma in PR & Journalism, University of Wales, College of Cardiff
BA Hons in Communication, University of Wales, College of Cardiff
Experience:
2020-2024 Vice President, Corporate Affairs Programs & Corporate Communications, Nokia.
2015-2019 Global leadership team, Communications and Marketing Director, BAE Systems Applied Intelligence.
2012-2015 Head of Global Communications, Investor Relations and Marketing, Innovation Group.
2006-2012 Global PR Director & Deputy Communications Director, Logica.
1999-2006 Partner & Associate Director, LEWIS Communications.
Additional positions:
Trustee of the Williams Syndrome Foundation
About Nokia
At Nokia, we create technology that helps the world act together.
As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.
With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.
Inquiries:
Nokia Communications Phone: +358 10 448 4900 Email: press.services@nokia.com Maria Vaismaa, Global Head of External Communications
Curiosity continues to drive along the western edge of the upper Gediz Vallis channel. After exiting the channel a few weeks ago, we turned north to image the “back side” of the deposits that we investigated on the eastern side before the channel crossing. As a member of the Channel Surfers working group, we believe that acquiring these views will help further our understanding of the geometry, nature, and evolution of these landforms. The bumpy terrain in front of us, however, plays a role in determining our route and length of drive. The rover planners on the team always do a fantastic job in charting the course on this once-in-a-lifetime road trip. I like to imagine Curiosity with the windows down, blaring U2, as she steadily blazes a new path across the sulfate unit.
With an eye towards imaging in this two-sol plan, Mastcam crafted a large mosaic of “Fascination Turret” that rises above the channel floor. ChemCam fit an unprecedented number of long distance RMI images in the plan that will document the upper extent of the white stone deposit, the nature of the “Kukenan” mound, and characterize the rocks in Fascination Turret at targets named “Chimney Tree” and “Forgotten Canyon.” In our immediate workspace, ChemCam used the Laser Induced Breakdown Spectroscopy (LIBS) instrument on a laminated (very thinly bedded) bedrock in the workspace at “Puppet Lake” to determine its chemical composition, which will be documented with a coordinating Mastcam image. MAHLI and AXPS teamed up to analyze a cluster of small gray rocks in front of us at “Jumble Lake.”
The second sol includes a 25-meter (about 82 feet) drive to the west/northwest as we continue along our path adjacent to the channel. The Environmental theme group included a range of activities such as a Mastcam tau that will measure the optical depth of the atmosphere and constrain aerosol scattering properties, dust devil movies, and a suprahorizon movie to monitor clouds.
Written by Sharon Wilson Purdy, Planetary Geologist at the Smithsonian National Air and Space Museum
Background There’s a rise in criminals calling, emailing or messaging people and pretending to be from their bank so that they can steal your money. The scammers ask you for personal or financial information or to transfer funds or to give them a one-time security code over the phone. They often claim to be from the bank’s fraud department and might say that there has been a compromised account or suspicious transaction. They may use technology to make it look like the call is coming from the bank’s phone number. They may send a message that looks like it comes from the same conversation thread as genuine bank messages.
How to spot the scam You may get a call, message or email from a scammer claiming to be from the bank and asking for personal and bank details. The scammer may tell you there is a problem with your account and ask you to transfer money to ‘keep it safe’. They may say it’s an urgent problem to get you to respond. Anyone calling and behaving like this is probably a criminal. What you can do:
Do not use any phone numbers in a message. Ask for a reference number and contact your bank directly through a phone number that you find and confirm yourself. Hang up if you receive a call from someone claiming to be from your bank requesting you to transfer money. Don’t click on any links in an email or message on your phone, even if it looks like it comes from your bank.
How the scam works Someone calls, emails or messages you saying they’re from the bank. The phone call, email or message looks like it comes from the bank. The message may be in the same message thread as a previous legitimate banking message. They say they’re investigating a problem with your account, like a hacked account, suspicious transaction, or online banking outage. These criminals ask you for personal or financial information like account details or security codes. They will then use your account details to steal your money.
What you should know Your bank will never ask you to transfer your money to keep it safe. Your bank will never ask you over the phone for online banking passwords, one-time security codes, PINs or tokens.
Find out more This scam is a type of impersonation scam. Scammers pretend they are from your bank. They use technology to make it look like they’re calling or messaging from a legitimate phone number. They may send emails that look like they are from the bank.
Stay protected STOP – Don’t give money or personal or financial information like passwords, security codes, PINs or tokens. Don’t click on any links if you’re unsure. Say no, hang up, delete. CHECK – Verify who you are talking to. Contact your bank using your banking app or a phone number you have sourced from your banking app, bank website, statement, or card. PROTECT – Act quickly. If you have transferred funds, provided access to your account or information to a scammer, contact your bank immediately and report to Scamwatch. Tell your friends and family; it helps to share your experience so they can give you support and to help them stay safe from scams.
If you’ve been affected There is no shame in getting scammed. It can happen to anybody. If you’ve had money stolen, contact your bank or financial institution immediately. If you’ve had personal information stolen or need help to recover from a scam, contact IDCARE on 1800 595 160. If you’re feeling distressed and need to talk about it, reach out to Lifeline or Beyond Blue. If you’re worried about your safety or someone else’s, call the police immediately on 000 or go to your nearest police station. Help others by reporting scams to Scamwatch.
In the underwriting auctions conducted on October 18, 2024, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:
Source: Hong Kong Government special administrative region
The Government today (October 18) gazetted the Merchant Shipping (Seafarers) (Health and Safety: General Duties) (Amendment) Regulation 2024 (Commencement) Notice; the Merchant Shipping (Seafarers) (Working and Living Conditions) (Amendment) Regulation 2024 (Commencement) Notice; and the Merchant Shipping (Seafarers) (Returns of Births, Deaths and Missing Persons) Regulation (Amendment of Schedules) Notice 2024 (Commencement) Notice, to specify the amendment regulations and notices in relation to seafarers of merchant ships to come into effect on December 23 this year.
The Merchant Shipping (Seafarers) (Health and Safety: General Duties) (Amendment) Regulation 2024; the Merchant Shipping (Seafarers) (Working and Living Conditions) (Amendment) Regulation 2024; and the Merchant Shipping (Seafarers) (Returns of Births, Deaths and Missing Persons) Regulation (Amendment of Schedules) Notice 2024, which were enacted by the Legislative Council earlier on, seek to incorporate into local legislation the latest relevant requirements of certain amendments to the Maritime Labour Convention, 2006, approved by the International Labour Organization (the 2022 Amendments). The latest requirements cover seafarer recruitment and placement agents, provision of drinking water supplies and balanced meals, repatriation of the bodies or ashes of deceased seafarers, reporting of deaths of seafarers, as well as provision of appropriately sized personal protective equipment. The aforesaid regulations and notice will come into operation on December 23, in line with the date on which the 2022 Amendments will enter into force globally.
​The commencement notices will be tabled to the Legislative Council on October 23 for negative vetting.
Source: Hong Kong Government special administrative region
Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the InnoTech Forum 2024 today (October 18):
Alpha (Director-General of Investment Promotion, Ms Alpha Lau), distinguished guests, ladies and gentlemen,
Good morning. It is my great pleasure to join you all today at the InnoTech Forum 2024 organised by InvestHK. Themed “Pioneering in the Artificial Intelligence (AI) and New Energy Era”, this full-day forum brings together experts from diverse fields to explore how Hong Kong can establish itself as a global leader in innovation and technology (I&T).
Technological empowerment is the cornerstone of achieving high-quality economic development. It accelerates the emergence of new quality productive forces and enables industries to adapt and thrive in the increasingly competitive local, regional and global arenas. As we navigate in this new era, we must harness technology not just for individual success or lucrative business, but for collective growth that benefits our society.
Just two days ago, our Chief Executive unveiled a range of initiatives in his third Policy Address, reinforcing Hong Kong’s commitment to becoming an international I&T centre. This year’s theme, “Reform for Enhancing Development and Building Our Future Together”, emphasises the importance of collective growth. That means your success is our success, and together we can scale new heights and build a brighter future for Hong Kong.
AI, as this year’s forum highlights, remains a key driver of I&T and business development. To support enterprises like yours in leveraging AI technologies, the Government has invested billions of dollars in cultivating an all-round AI ecosystem here in Hong Kong. I would like to take this opportunity to share with you some of the exciting developments that are under way.
Talking about AI development, computation facility is pivotal. Cyberport will soon put into operation its AI Supercomputing Centre (AISC) to support the strong computing demand from universities, research institutes and the industry. With its first-phase facility capable of providing at least 300 petaFLOPS and in a year or so, the computing power will be augmented to a level of 3 000 petaFLOPS; the AISC will offer top-notch, high-performance computing facilities and serve as a collaborative platform to foster AI-driven research and innovation. Apart from Cyberport, the Hong Kong Science and Technology Parks Corporation has officially launched the High-Performance Computing service last month, which is expected to support the growth of around 300 companies working on AI and data technology in Science Park’s ecosystem.
To support the commissioning of the AISC, the Government has allocated $3 billion to launch a three-year AI Subsidy Scheme. This significant sum is aimed at subsidising eligible users of the AISC to leverage the computing power, by offering a subsidy of up to 70 per cent of the list price of the computing power or 90 per cent in exceptional cases. Cyberport has also been tasked to promote the AI ecosystem and enable AI enterprises and talent to land in Hong Kong through the scheme. I encourage you to tap into our latest technology infrastructure at Cyberport, where we hope to see even more scientific breakthroughs.
AI has taken the world by storm, revolutionising not only industries but also the Government. The provision of public services must harness this powerful technology. The Policy Address announced that the Government will pilot the use of a generative AI document processing copilot application, developed on the basis of a locally trained large language model, within the Government to assist staff in writing, translating and summarising documents. This trial run will also lend support to Hong Kong’s exploration in generative AI technologies and enrich the use cases for better, accurate and localised outcomes.
In fact, a number of the hundred digital government and smart city initiatives that the Government presses ahead for rollout this year and next will make use of AI technology. For instance, we have expanded the AI chatbot service for the 1823 enquiry service, making it much more adept at handling the public’s frequently asked questions within its scope of service. This improves user experience and allows our staff to focus on other complex tasks, thereby lifting the overall service quality. The judicious application of AI in the Government will advance our digital government and smart city development, benefitting both the people and businesses of Hong Kong, and bringing them closer to the fruition of I&T development.
Ladies and gentleman, Hong Kong stands on the cusp of making ground-breaking strides by capitalising on the vast potential of AI and other cutting-edge technologies. We are partners in this journey to seize the opportunities that lie ahead. So let’s invest in technology, invest in innovation, and invest in Hong Kong. Together, we can push the boundaries of what is possible to make Hong Kong a truly international I&T centre.
In closing, I would like to thank InvestHK for making this happen, and I hope you would leave this forum with mind-blowing takeaways. Thank you.
Source: People’s Republic of China – State Council News
HEFEI, Oct. 18 — Xi Jinping, general secretary of the Communist Party of China Central Committee, on Thursday afternoon inspected the cities of Anqing and Hefei in east China’s Anhui Province.
Xi visited the Liuchi Alley in Tongcheng City under Anqing and the Hefei Binhu Science City.
During the visits, he learnt about the local efforts to carry forward fine traditional Chinese culture, promote cultural-ethical progress, advance institutional innovation of science and technology, and accelerate the application of scientific and technological advances.
MILES AXLE Translation. Region: Russian Federation –
Source: Novosibirsk State University – Novosibirsk State University –
Faculty of Economics, Novosibirsk State University held a “Financial Literacy Day,” during which five representatives of banks and consulting companies shared their experience in combating fraudsters.
This topic is relevant for students not only because today the victims of telephone scammers are very different people. The faculty trains future economists, so it is important that they are also prepared in the field of fraud prevention, since the price of a mistake by a bank employee, broker or expert of a consulting agency can be very high.
— I think the event was a success, the lectures were very diverse and informative. I judge by the fact that I myself heard a lot of new things. I think we will continue to hold such events in the future, — noted Deputy Dean of the NSU Faculty of Economics Naimdzhon Ibragimov.
— The Faculty of Economics, including student clubs, often organize thematic meetings for students. The issue of financial literacy and the topic of fraud are relevant now. Despite the fact that the problem of fraud is not new, the number of deceived people remains significant. And this can be due to different factors, of which I would highlight two: the first is that modern technologies are used not only by honest people, the second is that there are features of the psychology of perception of information that fraudsters know and use. These issues need to be discussed. This can be useful for young people, — said Svetlana Bekareva, head of the Department of Finance and Credit of the Faculty of Economics of NSU.
In their speeches, the experts touched on various aspects of the financial security problem. Sberbank representatives shared advice on how to protect yourself from fraudsters and told in more detail about the principles on which Sber’s ecosystem is built (which has long included not only the banking infrastructure itself).
Yulia Krasnova, head of the Novosibirsk branch of the large audit company DRT, described the methods used by fraudsters to increase the attractiveness of their reporting for investors.
The head of the Siberian regional center Kept Leonid Kozlenko, using specific examples, revealed the mechanisms for combating fraud that modern businesses use.
— I really liked the concept of this event, so we gladly responded to the invitation. We generally really like communicating with students, so our company has many different joint projects with the NSU Faculty of Economics. Their subject matter is much broader than financial security issues, they relate to both training and smooth introduction to the profession of future graduates, — Leonid Kozlenko emphasized.
The speech by the director of the SFM company, PhD in economics Andrey Bekarev was devoted to the psychology of fraud. Using examples from the documentary, she showed how one can manipulate a person’s opinion quite strongly, and this influence remains unnoticed by him. And as a result, he perceives other people’s assessments, views as his own and makes decisions on their basis that are beneficial to the manipulator.
— Modern propaganda and marketing technologies influence us much more than we are used to thinking. And this is often used for nefarious purposes, like the same scammers we have been talking about all day today. I would like to draw attention to this with my lecture. I hope this will help you maintain independent thinking and reduce the risks of becoming a victim of someone else’s manipulation, — Andrey Bekarev addressed his listeners.
Financial Literacy Day attracted the interest of students from various fields of study. Some of the students have been participating in the events of the Faculty of Economics for several years now, and began to get involved in the topic of finances back in school.
— Last year I attended the Financier’s Day, which was held by the Financial Club and the Faculty of Economics. I was not yet a student of the Faculty of Economics at that time and I really liked the interesting and useful lectures and, of course, the competitions. Today’s event is smaller in scale than the Financier’s Day, but the idea is about the same. I was the host of the game part in the question-and-answer format. It is interesting that people from different fields took part in them, for example, historians and journalists, — shared Mikhail Muravyov, a first-year student of the Faculty of Economics, the Jurisprudence field.
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.
Amazing turnout at yesterday’s strike rally at IAM District 751 in Seattle! The energy was electric, and our unity was stronger than ever as we packed the hall, standing shoulder to shoulder, fighting for what we deserve. This strike is about every one of us – our future, our families, and our fight for a contract we have earned. There is no Boeing without the IAM!
The Housing Bureau today invited tenders for the third operation and management contract of Light Public Housing (LPH), involving a project at Tsing Fuk Lane in Tuen Mun.
The project will provide about 1,900 units, with intake tentatively scheduled in the fourth quarter of 2025.
As with the previous two contracts, the scope of operation and management services for this contract mainly cover occupant management, property management, daily maintenance, as well as the provision of social services, and the management and operation of ancillary facilities.
To encourage participation of different stakeholders in the community, the bureau welcomes tenders from all capable and experienced service providers, including non-government organisations and those with a valid property management company licence, or a collaboration between them.
The bureau will carry out a technical assessment based on factors including the organisations’ management capability, relevant experience and past service performance, as well as the proposed modes of operation and management, social service support to be provided, feasibility of an exit plan and use of innovation and information technology as stated in their proposals.
This is to ensure that the LPH facilities and services can meet the needs of the residents and the local community.
The tender price will then be evaluated to form a consolidated assessment to decide on the most suitable organisation for operating LPH.
The bureau pointed out that LPH could fill the short-term gap of public housing supply and improve the living conditions and quality of life of people living in inadequate housing as soon as practicable, adding that construction of a number of projects has already commenced.
Interested organisations may download the tender documents (tender reference HB2024/OPR-LPH-TFL) via the relevant tender notice on the bureau’s website from the e-Tendering System. They may also contact the bureau’s dedicated team on LPH to obtain the tender documents.
Tenders must be submitted by noon on December 6, either electronically via the e-Tendering System or by deposit in the Government Secretariat Tender Box situated at the lobby of the Public Entrance on Ground Floor, East Wing, Central Government Offices, 2 Tim Mei Avenue, Tamar.
“The report makes it clear that, at least to the Committee’s ‘majority’, it’s more important to push through developments fast, than to get it right for Aotearoa and future generations,” says Augusta Macassey-Pickard, spokesperson for the group (see membership list below).
“This isn’t about speed, it’s a clear demonstration that the government simply wants to avoid any environmental regulation or community oversight.The Committee has ignored the thousands of submissions against this bill, along with its minority members.”
The group noted that of all consents notified at the moment, 93% or them are successful, making a mockery of the Government’s rationale that there is a desperate need for this extreme reform. And they question the determination to remove any avenue for public input.
“Intentionally excluding community voices, including those of tangata whenua, is actively ensuring that significant knowledge and understanding will be missed. The lack of adequate scrutiny by anyone but the applicant, the Ministers and their expert panels creates a risk that even the few projects that, at face value, could be beneficial, are likely to be sub-par as they have not been properly interrogated.”
CAFT members are also deeply concerned at the apparent comfort of the (majority) Select Committee with the lack of information they were provided around the implications for Aotearoa in the international trade space.
“The casual attitude taken to our trade situation is reflective of what this bill demonstrates – this Government’s apparent disrespect for our country, for our communities.”
“Considering that, and the zombie projects, the retention of aspects like overrides for prohibited activities and Council plans, and the sheer number of proposals on the list that are not relevant to our infrastructure, but, as with seabed mining, and coal and gold mining, are harmful to our environment, it is absolutely clear; the Fast Track Bill is about what’s good for the pockets and bottom lines of a few.
It is abundantly clear this is not about what’s good for Aotearoa.This bill stinks.”
Macassey-Pickard also says the group has serious concerns and doubts over the ability of the system to cope – 149 significant proposals at a time when the EPA has, like many other Government Departments, been significantly scaled back.
“It’s a lot of work to service even one application: appointing the panel, coordinating hearings, notifications, transcripts, decisions and setting up monitoring programmes if a consent is granted. How can the EPA do anything to protect the public interest with this deluge, especially in light of its recent cuts? How can this be anything other than a rubber-stamping exercise?” asked Macassey-Pickard.
Who is CAFT Communities Against the Fasttrack
We collectively represent thousands of volunteers who are actively out in communities around the country giving their time and energy, expertise and experience to help create the kind of communities we want to live in, sustainable, inclusive and forward thinking
CAFT members:
Coromandel Watchdog of Hauraki, 350 Aotearoa, Kiwis Against Seabed Mining, Coal Action Network Aotearoa, Climate Justice Taranaki, Environment and Conservation Organisations of NZ (ECO), 350 Aotearoa, Taranaki Energy Watch, Extinction Rebellion Tāmaki Makaurau, All Aboard, Save the Basin Campaign, and individual grassroots community organisers from around the motu.
Eight CFA crews were called to a fire at a local Yarram sawmill on Yarram-Morwell Road at around 6.30pm on Monday 14 October.
On arrival crews were confronted with a difficult fire within the elevated hopper (sloped) structure, which quickly spread to adjoining bins containing several tonnes of woodchips.
Quick and effective action from the on-site staff and the CFA crews limited the spread as they undertook a controlled release of the bins supported by onsite heavy machinery, while crews protected the adjoining facilities and significant timber stock.
Incident Commander Ian Bounds said the fire was brought under control within two hours with minimal dollar loss or damage to the infrastructure and time down for the sawmill.
“Another half hour of fire development and the job would have escalated to a significant incident requiring fire crews through the night and potentially specialist aerial units to combat the fire,” said Ian.
“The fire was attended by four tankers and three operational support units from Yarram, Alberton, Jack River, Won Wron, Devon North and Port Albert.”
AKD Yarram Site Manager Glen Davis expressed his appreciation to CFA crews who battled the fire.
“AKD would like to extend our sincere gratitude to the CFA for their quick response and exceptional professionalism in swiftly bringing the situation under control,” Glen said.
“The CFA’s efforts were crucial, and we deeply appreciate the support provided to our Yarram facility.”
Sampo plc, stock exchange release, 18 October 2024 at 8:30 am EEST
Sampo plc’s share buybacks 17 October 2024
On 17 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:
Sampo plc’s share buybacks
Aggregated daily volume (in number of shares)
Daily weighted average price of the purchased shares*
Market (MIC Code)
4,168
41.68
AQEU
36,033
41.69
CEUX
412
41.69
TQEX
49,202
41.68
XHEL
TOTAL
89,815
41.69
*rounded to two decimals
On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.
After the disclosed transactions, the company owns in total 8,862,408 Sampo A shares representing 1.61 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.
Details of each transaction are included as an appendix of this announcement.
On behalf of Sampo plc, Morgan Stanley
For further information, please contact:
Sami Taipalus Head of Investor Relations tel. +358 10 516 0030
Distribution: Nasdaq Helsinki Nasdaq Stockholm Nasdaq Copenhagen London Stock Exchange The principal media FIN-FSA DEN-FSA http://www.sampo.com
The Supervisory Board of AS Inbank confirmed the appointment of Ivar Kurvits as a new member of the Management Board returning from a sabbatical, who assumed his role on October 17, 2024.
Ivar Kurvits returns to his position as Chief of Staff at Inbank and resumes his responsibilities as a board member after a six-month sabbatical. Ivar Kurvits, who has long-term experience in legal and management, has been a member of the Inbank management board since 2020. Prior to joining Inbank, he held senior positions at Eesti Energia and the law firm Sorainen.
The eight-member Management Board of AS Inbank also includes Chairman of the Board Priit Põldoja, CFO Marko Varik, Head of Baltic Business Margus Kastein, Head of CEE Business Maciej Pieczkowski, Head of Growth and Business Development Piret Paulus, Chief Product and Technology Officer Erik Kaju, and Head of Risk Control Evelin Lindvers.
Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with 6,100 merchants, Inbank has 895,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.
Additional information: Merit Arva Inbank AS Head of Brand and Communications merit.arva@inbank.ee +372 553 3550
The regulation of housing in Australia traditionally relies on well-informed buyers being responsible for managing the risks. But our new study found home buyers are often not aware of the long-term risks.
Only after they’ve bought the home do they start thinking about these risks. When faced with unexpected high insurance costs, many opt to take the risk of being underinsured or even uninsured. This leaves them highly vulnerable.
The National Strategy for Disaster Resilience promotes a shared-responsibility concept. However, we found the main responsibility still lies with households. And they are not equipped to cope with the increasing complexity, impacts and costs of extreme weather events.
What’s wrong with the current approach?
The uncertain knowledge about future extreme weather events is challenging the traditional prioritising of individual responsibility. It’s becoming even harder for households to make informed decisions based on past experiences.
Government efforts to regulate increasing flooding events might not be effective when households do not want to relocate or cannot afford housing elsewhere.
Governments are also under pressure to jump in to compensate households for the costs of extreme weather damage.
Our research found a number of issues prevent efficient regulation:
stakeholders such as the insurance industry and home lenders face legal hurdles to sharing data and giving financial advice for housing in high-risk areas
well-intended measures such as buybacks and planned relocations can fail when they do not relate to people’s experiences and life situation, such as limited financial resources and deep connections to a place and community
households’ motivation to insure themselves might decrease if they can expect government to provide compensation as a de facto last insurer.
Who is responsible for what?
In Australia, responsibility for managing extreme weather events is roughly divided among three main stakeholders: the three levels of government, businesses and households.
Within the three levels of government, states and territories bear the main responsibility for managing extreme weather events. They do so through disaster risk management plans and policies, hazard prevention and land-use planning.
Yet housing is still built in flood-prone regions. It happens where commercial interests conflict with regional planning, and governments are under pressure to deliver housing for growing populations.
After extreme weather hits, house and contents insurance cover is key for a household to recover. But insurance costs are based on the risk of events such as flooding. As these risks rise, premiums may also increase and become unaffordable. The Climate Council estimates one out of 25 properties will even become uninsurable by 2030.
When housing is built in at-risk areas, under the current system home buyers are largely responsible for informing themselves about the risks of floods, bushfires and other natural disasters. Our research suggests many are struggling to estimate what insurance is likely to cost them.
To prepare for these costs before they invest in a home, they must assess their own risk, know the value of their house and contents and calculate the costs of rebuilding after a disaster. They must also take into account increasing costs for builders and materials after an extreme weather event.
Climate change is making these already complex calculations even more difficult.
Our study is based on interviews with 26 insurance, legal, financial, policy and urban planning experts. Despite the National Strategy for Disaster Resilience’s concept of shared responsibility, we found most of the burden still falls on households.
Yet households often lack the knowledge to assess the risks. The data and information are either unavailable, or hard to access and understand.
These difficulties, coupled with the complex language of insurance contracts, contribute to high numbers of underinsured and uninsured households.
The Australian government responded in 2022 by setting up a cyclone reinsurance pool. Its aim is to keep premiums for households and businesses affordable.
There are also government buyback programs or relocationplans to move people out of high-risk regions. As noted above, though, these don’t always suit households when offered away from their communities or full costs aren’t adequately covered.
Governments must take on more responsibility
According to the experts we interviewed, households are no longer able to carry the main responsibilities for managing the risks of climate change. Government must take on more responsibility.
At the local level, councils need to better educate their staff on climate change risks. They should ban housing development in at-risk areas.
Better information and data sharing among stakeholders such as insurers and governments will also be crucial. Such data and information also need to be made more accessible and easier for households to understand.
In a climate change world, increasing extreme weather events result in new complexities. Households are not able to assess these new risks and complexities to make well-informed decisions.
Australia needs stronger sharing of responsibilities between different stakeholders such as insurers, governments and households. This includes changes to laws on information and data sharing between insurers, governments and households, bans on building in high-risk areas, and better advice about the costs of buying in high-risk regions.
Jens Zinn received funding from the Hanse Wissenschaftskolleg/Institute for Advanced Study, Delmenhorst/Germany (10/2023-05/2024).
Julia Plass has received funding for the data collection in the study mentioned in the article from the German Academic Exchange Service (DAAD).
SUBJECTS: Northcott Dapto Disability Hub; NDIS reform; Housing; Interest rates; University of Canberra
BILL SHORTEN, MINISTER FOR THE NDIS AND GOVERNMENT SERVICES: It’s great to be at Northcott today in Wollongong. The opening of the new multi-use hub is fantastic news for thousands of people with disability. In particular, the hundreds of clients that Northcott looks after every day.
JOURNALIST: You mentioned in your speech downstairs that it’s a village of hope, and if you can expand on that, and that sort of means?
SHORTEN: Buildings reflect a society’s values. If we build a brand new shopping centre, it reflects the value that Australians value shopping. But when a community or a group like Northcott build a marvellous, purpose-built building so that people with disabilities can have more fulfilling lives, I think it reflects very positive values. So this is not just a set of walls and windows, some fabulous rooms and a roof. This is a village of hope where people with disability cannot be invisible, where they can help – have dreams, have hopes, make plans and have social interaction. So the values of this building are based on the finest moral foundations of a fair go for people with disability.
JOURNALIST: Reflecting I guess on your time as the Minister in charge of the NDIS, you’re obviously outgoing at the moment, there were recommendations about how to improve the service that were handed down last year. As you leave your position, what do you think? Do you think those – , yeah, what state do you think you leave the service in?
SHORTEN: You’re right. I’m very outgoing. I love the NDIS, I bleed it, I was fortunate enough to be able to help create it more than 15 years ago. Coming back into Government, I realised that whilst it was changing lives for the better, hundreds of thousands of lives, it was off track. Money was getting spent on the wrong things. There were a minority of service providers who were seeking to enrich themselves rather than look after the people they meant to. Australians are very generous. They, I think, don’t mind spending some taxes on Medicare and on looking after people with profound and severe disability. Participants deserve fulfilling lives. So therefore, what we’ve spent the last nearly three years is get it back on track. Now I want to take it above politics. I want to make it politician proof. Now we’ve got the legal authority to outline what you can spend your money on and what you can’t. Who you can spend your money with, with registered providers. We can now make sure that we’ve got a process for clear eligibility, which we’re working on. And I think also most importantly – so who can be in it, what we can spend the money on and who with. We’re clearing that up. We’re clamping down on the fraud and the cheats and the crooks. They’re not welcome anymore. But also what we’re doing is writing a new chapter of inclusion by building supports outside the NDIS. For people who don’t need the full orchestra of the NDIS, but have special needs, and so that the NDIS is not the only lifeboat in the ocean of services for people with disability.
JOURNALIST: Just on the changes that have been made, I spoke to a provider earlier this morning saying – who’s here in the Illawarra – saying that a lot of clients are I don’t feel like they have enough information about what can and can’t access now, and that’s actually worsening their mental health as well. Are there plans to kind of improve communications in that sense?
SHORTEN: Good providers should be telling their people what’s going on. I mean, a provider can simply access a website. It’s all there. I get any changes can bring anxiety. If you’re a person with a disability or a family who has fought hard to get a personal budget, when you hear the words change, that’s not what you hear, you hear, am I going to lose something? I don’t want to go backwards. All we’re doing is providing clarity. It’s very easy to access on the NDIA or the National Disability Insurance website. Our providers, they’re meant to be professional. They’re paid to provide services. So I can understand participants taking longer to work out what’s in and what’s out. But a provider should be acquainting themselves with the road rules. You’re not allowed to drive a truck without knowing basic road rules, and providers should do the same.
JOURNALIST: You talk about eligibility requirements. We have a local in Kiama who’s the name of Bobby English, who’s been campaigning for years to have her partner, who’s over 65 and developed a disability, have him be included in the Scheme. I guess as you’re leaving the position, do you regret not having this issue resolved? And will this be a priority for your successor, I guess?
SHORTEN: For the person who needs the support, I hope they’re getting support. But for the proposition that the NDIS, to the NDIS should look after people of all ages of disabilities, that would sink the Scheme. The Parliament made it very clear in 2013, when it was legislated, that the NDIS is for people up to 65 and aged care would look after people over 65. When I started campaigning for the NDIS, aged care was in much better shape than disability. What’s happened in the intervening 15 years, 16 years since I first raised it, is aged care had fallen backwards and for all of the problems with the NDIS, it was more generous. I think the answer to the issue of older Australians who acquire a disability after 65 is better support in the aged care system, which is what it’s designed for. And the Labor Government has been making pretty significant reforms in aged care to improve the support which would be available.
JOURNALIST: This is your, most likely your last visit to the Illawarra region is it?
SHORTEN: I don’t know, nice to say, but you know you have –
JOURNALIST: Well I was going to ask –
SHORTEN: I’m going to do more farewell trips than Johnny Farnham, but I’ll be coming back, to the South Coast anyway. I’m actually moving from Melbourne to Canberra, so actually I’ll be closer to the Illawarra than I’ve ever been.
JOURNALIST: Yes, but last in a ministerial – as an announcement, with an announcement sort of thing?
SHORTEN: Yeah.
JOURNALIST: in terms of this region in particular, obviously you’re a Federal Minister, but in this area, what do you hope the legacy of your role will be?
SHORTEN: I’ve been very fortunate to visit the Illawarra in different roles over my working life as a steel union rep with the Australian Workers Union. I’ve been at the north gate BHP. I’ve seen when things have gone bad. So I know this is a an industrial town. People work hard for their money here. Then I had the chance to work in disability here, and I realised it had a very strong culture of support for people with disability in the area, which I think reflects well on the values of the community here. I got to campaign here as Leader of the Opposition for six years. So I’ve seen how this area is reinventing itself and diversifying. And indeed, you know, to the south of the Illawarra has become a very crowded part of Australia. So I’ve seen this community reinvent itself. It works hard and it cares for the people within it. But what I’m pleased is that there’s 5,600 people in the Wollongong region receiving personal budgets of support because of a severe and profound disability, which but for the National Disability Insurance Scheme, they’d be stranded. Families will have kids on non-standard developmental journeys, little precious babies who are two and three. But for the NDIS, they wouldn’t get the sort of support they’re getting now. There’s ageing carers in their 80s who will be drying the dishes at 10:00pm tonight overlooking the, you know, the back window from the kitchen sink. They’ll have that anxiety, who’s gonna look after their adult child when they no longer can? We’re not fully there at fulfilling that promise. But for people in this region, we’re a lot closer to fulfilling a promise that even when you can’t look after the person you love because they have a profound and severe disability, there’ll be someone there.
JOURNALIST: Bill. Negative gearing is back in the spotlight today, with analysis showing more than 750,000 renters could become homeowners under your policy that you introduced in 2019. Is it time for the Federal Government to consider changes to negative gearing and capital gains tax concessions?
SHORTEN: Well, unfortunately, Mr. Morrison won the election, so I didn’t quite introduce my policies but thank you for the compliment. Listen, the Government said that we’re going to focus on supply, that negative gearing is not on the agenda. I think that’s fine. We did take a series of policies to 2019. They were narrowly rejected. I think the Government’s got it right where we’re going to focus on supply. I’d encourage the Liberals and the Greens political party to get out of the way. They’re not – we want to build more houses. They’re delaying that. I mean, I have to say of Mr Dutton’s Opposition. They won’t lead, they won’t follow, and they won’t get out of the way. That’s a problem for renters.
JOURNALIST: Should the Prime Minister have bought an expensive home so close to the election in the middle of a housing crisis?
SHORTEN: Oh, it’s so up to him. It’s his business. Good luck to him and Jodie. Again, what I see is people are focusing on one house. I wish the Opposition and the Greens would focus as hard on the tens of thousands of houses that we want to support, and they are just on the Prime Minister’s house.
JOURNALIST: You did used to call Turnbull, at the time, Mr. Harbourside mansion back in the day, saying he was out of touch. Should Albanese have waited until after the election to buy his own?
SHORTEN: I think the difference between Malcolm Turnbull and Prime Minister Anthony Albanese is chalk and cheese. Mr. Albanese has worked very hard. He comes from or he came from a tough background. I just wish the very best for him and Jodie in their future. But the other thing is I’ve got no doubt that Prime Minister Albanese will lead us to the next election and successfully.
JOURNALIST: But just in terms of cost of living, do you think the Reserve Bank should hold off on cutting interest rates?
SHORTEN: That’s a decision for the Reserve Bank. But I do know that 3 million mortgagees are doing it tough. I do know that the economy in large part is doing it tough. You know, it’s great that Labor’s been able to create a million jobs, and that shows you the focus of the Government. But people are doing it hard. It’ll be up to the Reserve Bank when they cut rates, but that can’t come too soon as far as I’m concerned.
JOURNALIST: Can I ask one more just for our Canberra colleagues? Your new position that you’ll be taking up, will you be launching a review into the governance of UC?
SHORTEN: Uh, I’ll wait until I get there. What I said about my new job is that until I finish my current job, I won’t be talking about my new job. But the day I start there, then I’m open for – the shop is open for interviews. Thanks.
Do you wash your hands every time you use the toilet? How about before you handle food? Be honest.
Australia’s Food Safety Information Council has released its latest report card on the country’s hand washing habits. It found 19% of Australians don’t wash their hands every time they use the toilet. Close to half (42%) admit they don’t always wash hands before handling food.
So who’s doing well when it comes to hand hygiene, who’s not – and why does it matter?
What did the report find?
The new report surveyed hand washing practices of 1,229 people. Results were consistent with what we’ve learned from similar surveys.
Once again, women do better than men at washing their hands after using the toilet, although only slightly (80% of men say they do every time, versus 83% of women). Just 55% of men wash their hands before touching food, compared to 62% of women.
Age also seemed to make a difference. Under 34 years old, 69% of people washed their hands every time they used the toilet. Over age 65, that jumped to 86%.
Although some of these differences aren’t completely unexpected – such as the gap between men’s and women’s hand washing habits – the reasons remain unclear.
People over 65 were much more likely than younger people to wash their hands after using the toilet. Mélissa Jeanty/Unsplash
Why don’t people wash their hands?
Public health messaging often focuses on how to wash hands well. But there’s less research that follows up on how widely people actually adopt these practices. And to understand why – if they are skipping the soap and water – those messages might not be getting through effectively.
One study that looked at this question in India asked school children about barriers to hand washing. The vast majority (91%) had low “illness threat perception”. In other words, they simply didn’t perceive a risk of getting sick form not washing their hands after going to the toilet.
Interestingly, the inability to see germs with their own eyes was one of the biggest barriers, cited by 46% of the children. But 72% said they would wash their hands if their friends did.
It’s tempting to speculate these reasons may also apply to other age groups, but we simply haven’t done enough research to know. People’s reasons for hand washing, or not, likely vary across their lifetime and with their circumstances.
What are the risks?
Urine and faeces contain millions of germs, especially faeces, which has more than 100 billion germs per gram.
When you use the toilet and touch surfaces in the bathroom, you will pick up germs. People who skip the hand washing step on the way out take those germs with them when they leave, depositing them on each surface they touch afterwards.
You may not get sick yourself, but you’re increasing the spread of bacteria. This can increase the risk of infection and illness for other people, including those with compromised immune systems such as older people and those undergoing common forms of treatment for cancer.
Hand washing before cooking and eating is also important. The risk here goes both ways. If you have disease-causing germs on your hands (maybe because you didn’t wash them after the toilet) you may transfer them to the food where they can multiply and even produce toxins. People who eat the food may then get sick, often involving vomiting and diarrhoea.
Washing hands before eating and preparing food can stop germs spreading from the food to hands, and vice versa. CDC/Unsplash
In the other direction, some foods naturally carry germs before cooking – such as salmonella and campylobacter bacteria in raw poultry. If you don’t wash your hands after handling these foods you may transfer them to other surfaces and risk spreading infection.
How should I wash my hands?
Follow these three simple tips for hand washing correctly:
wet your hands and rub them together well to build up a good lather with soap for at least 20 seconds and don’t forget to wash between your fingers and under your nails. You might have to use a nail brush
rinse well under running water to remove the bugs from your hands
dry your hands thoroughly on a clean towel for at least 20 seconds. Touching surfaces with moist hands encourages bugs to spread from the surface to your hands.
What about hand sanitiser?
If no running water is available, use an alcohol-based hand sanitiser. These rapidly inactivate a wide range of germs, rendering them non-infectious. Hand sanitisers are effective against a wide range of bacteria and viruses that can cause many common gastrointesintal and respiratory infections.
However if your hands are soiled with organic matter – such as blood, faeces, meat, sand or soil – they won’t be effective. In that case you should clean your hands with soap and water.
The bottom line
Hand washing is a bit like wearing a seat belt — you do that every time you get in a car, not just on the days you “plan” to be involved in an accident. The bottom line is hand washing is a simple, quick intervention that benefits you and those around you — but only if you do it.
Christine Carson does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
On a review of the current and evolving liquidity conditions, it has been decided to conduct a second Variable Rate Reverse Repo (VRRR) auction on October 18, 2024, Friday, as under:
Amsterdam, 18 October 2024 – Azerion, one of Europe’s largest digital advertising and entertainment media platforms, announces the adjustment of its upcoming Q3 interim unaudited financial reporting date to 19 November 2024, ten days earlier than the previously scheduled 28 November 2024. Over the past year, integration and consolidation efforts have helped Azerion mature as a publicly listed company, resulting in improved reporting efficiencies. These enhancements support Azerion’s growth and commitment to timely reporting while enabling it to capture opportunities faster and expand its market share.
Future reporting dates:
Q3 2024
Q4 and FY 2024
Q1 2025
Q2 2025
Q3 2025
19 November 2024
27 February 2025
28 May 2025
28 August 2025
18 November 2025
About Azerion Founded in 2014, Azerion (EURONEXT: AZRN) is one of Europe’s largest digital advertising and entertainment media platforms. Azerion brings global scaled audiences to advertisers in an easy and cost-effective way, delivered through our proprietary technology, in a safe, engaging, and high quality environment, utilizing our strategic portfolio of owned and operated content with entertainment and other digital publishing partners.
Having its roots in Europe and with its headquarters in Amsterdam, Azerion has commercial teams based in over 22 cities around the world to closely support our clients and partners to find and execute creative ways to make a real impact through advertising.
Reference is made to the stock exchange notices from Awilco Drilling PLC (“Awilco Drilling” or the “Company”) on 1 October and 10 October regarding the issuing of 10,136,819 new Sponsored Norwegian Depository Receipts (SNDRs) based on the exercising of 10,136,819 warrants at a subscription price of NOK 1 per SNDR (the “Private Placement”) and the corresponding issuance of new shares.
On 17 October 2024, the 10,136,819 new shares were legally and validly issued. Following the issuance of the new shares, Awilco Drilling has a share capital of GBP 495,099.08 divided into 24,754,954 shares, each with a nominal value of GBP 0.02.
Furthermore, Equro Issuer Services AS, Awilco Drilling’s issuer account operator with Euronext Securities Oslo (the “VPS”) has today issued new 10,136,819 SNDRs, each corresponding to one underlying share in Awilco Drilling. The SNDRs will be delivered to subscribers in the Private Placement on or about 18 October on a delivery-versus-payment basis.
Aberdeen, 18 October 2024
For further information please contact:
Eric Jacobs, CEO of Awilco Drilling; Tel: +47 95 29 22 71 Cathrine Haavind, Investor Relations of Awilco Drilling; Tel: +47 93 42 84 64, ch@awilcodrilling.com
This information is published in accordance with the requirements of the Continuing Obligations.