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  • MIL-OSI NGOs: UK: new touring Palestine photography exhibition to launch in Birmingham

    Source: Amnesty International –

    Amnesty International UK is supporting a new touring exhibition from photographers and activists which aims to increase awareness about Israeli apartheid and raise funds for grassroots human rights organisations working in the Occupied Palestinian Territory and Lebanon.

    The touring version of the “Memories Carried” exhibition, an Art Forward project backed by Amnesty UK, will launch at Birmingham’s Museum of Islamic Arts and Heritage on Saturday 26 October (6-9pm).

    The exhibition series – which will later visit Newcastle, Paris and Berlin – brings together more than 20 photographers and activists, including artists from Palestine, the wider Middle East, the UK, the Americas and elsewhere.

    The exhibition artists are: Cherry Adam, Koutaiba Al Janabi, Ahmad Badarne, Mohamed Badarne, Dan Burwood, JC Candanedo, Julio Etchart, Eylem Fidan, Zeina Idris, Dalia Jacobs, Liron Leibu, Yamam Nabeel, Julia Neal, Ishtar Obaid, Matt Payne, Celia Peterson and Hareth Yousef, with further artists to be added.

    The project includes a “Wall of Hope” initiative which invites members of the public to take portraits of family and friends with a personal message of hope, which can be submitted online with a donation and an invitation to others to do the same. In addition to raising funds, the aim is to create a digital wall of portraits to offer hope and solidarity with the people of Gaza. This will be exhibited online and internationally at events, including projections on public landmarks.

    Funds raised from the Memories Carried series will be donated to Al-Haq, Al-Mezan, The Ghassan Abu Sittah Children’s Fund and Health Workers 4 Palestine.

    Attendance is free but booking is required via this site.

    Event details

    What: Exhibition of Palestine photographs

    Where: Museum of Islamic Arts and Heritage, 496 Mosely Road, Birmingham B12 9AH

    When: Saturday 26 October 2024, 18:00-21:00

    MIL OSI NGO –

  • MIL-OSI United Kingdom: NHS Devon has a moral obligation to address Plymouth health funding issue

    Source: City of Plymouth

    Councillor Tudor Evans has demanded that NHS Devon review the way in which health funding is allocated to Plymouth, to urgently address health inequality across the city.

    People in Plymouth live two years less than people in Devon, a situation that has been exacerbated following more than a decade of NHS underfunding.

    Men in Plymouth live 2.3 years less than in Devon and woman live 2.5 years less. Locally, levels of under 75 mortality, due to causes that are considered entirely preventable, are 16 per cent higher than the rest of England, and 52 per cent higher than Devon.

    Currently funding is allocated across the county by Devon ICB. The ICB is a body that aims to join up health and care services and make sure that everyone has the same access to services and gets the same outcomes from treatment. They oversee how money is spent and make sure health services work well and are of high quality.

    The Devon ICB use a model called ‘Fair Shares Funding’. The Leader of Plymouth City Council is urging the ICB to review this process as it is not currently fair. It does not take enough account of deprivation and inequality in health outcomes in Plymouth when compared to other parts of Devon.  

    For the past few years, the Council has been lobbying the ICB to relook at the funding and reassess the position of the city. However, so far discussions have not resulted in a viable solution. Councillor Evans is therefore now insisting on a proper board level review.

    Councillor Evans, said: “We know that finances are tight. But, the priority has to be making sure that the money available is distributed to the right places, where there is the most need. We know of areas in Devon where the need is less, yet funding is available to them – is the ICB favouring those who know how to use the system and leaving behind those who don’t or won’t?

    “There are people of Plymouth who cannot get a GP appointment, who cannot get an NHS dentist, who are missing out on treatment and are being put at unnecessary risk due to the lack of patient care and prevention services.

    “We know there are demands across the region – but we are Devon’s biggest city and our services are stretched beyond belief with no relief in sight.

    “ICBs have the autonomy to determine their own spending based on local need and the power to ‘over allocate’ funding to address poor health outcomes. Outcomes that in Plymouth are driven by deprivation and deep-seated health inequality which will have been worsened by more than a decade of underfunding. So far, the ICB have not been able to suggest any way forward that would result in a change in Plymouth. It is morally right that this review takes place and is given the serious consideration that it needs.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Plymouth joins together for Hate Crime Awareness Week

    Source: City of Plymouth

    It’s Hate Crime Awareness Week, and with 588 hate crime offences recorded by the Police in Plymouth in the last year, it’s more important than ever to highlight the issues.

    A hate crime is any crime that is targeted at a person because of hostility or prejudice towards that person’s membership or perceived membership of a protected characteristic:

    • Disability
    • Race or Ethnicity
    • Religion or Belief
    • Sexual Orientation
    • Transgender Identity.

    During the week, staff from the Council’s Community Safety team will be attending awareness raising events and engagement sessions, such as:

    • A drop-in session at the British Red Cross on Monday 14 October at 12pm to 2pm
    • Event at Plymouth University with the Police Diverse Community Team on Wednesday 16 October
    • The Barne Barton family hub are also running a drop-in session called ‘The Pioneers Project’ with the Police on Wednesday 16 October from 10am to 1pm, aimed at educating people about hate crime and reporting
    • Youth Services Workshops delivered across the city during the week, including open access, schools, SEND, and targeted groups
    • The Council’s Street Based teams will be promoting key messages across the city to young people, communities and businesses.

    Councillor Sally Haydon, Cabinet Member for Community safety said: “One hate crime is one too many. We all need to be more aware of what hate crime is and how we can address it.

    “Hate crime comes in many different forms and strikes at the heart of communities. Everyone in our city should feel safe, supported and be able to report incidents of hate crime without fear.”

    Hate crime can fall into one of three main categories; physical assault, verbal abuse and incitement to hatred, this is where someone acts in a way that is threatening and intended to stir up hatred, including by posting words and pictures online. 

    Councillor Angela Penrose, Welcoming City Champion, added: “The diversity of our city is one of our greatest strengths and assets, and we want Plymouth to be recognised as a city that is welcoming, safe, international and with a vibrant cultural offer.”

    More information about Hate Crime and how to report: Hate crime | Devon & Cornwall Police (devon-cornwall.police.uk)

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Chancellor announces new plans to secure UK investment

    Source: United Kingdom – Executive Government & Departments

    The Chancellor closes the International Investment Summit promising the government is bringing investment and jobs back to Britain.

    In a speech to some of the world’s biggest businesses and investors, Rachel Reeves revealed that restoring fiscal stability will be at the centre of her first Budget on 30 October. She made the case that it is the only way to ensure government and business can invest with confidence. 

    The Chancellor went on to set out how two new bodies will drive long-term investment in Britain as the government works hand in hand with business to create new high skilled jobs right across the UK, helping make people better off. 

    Chancellor of the Exchequer Rachel Reeves, MP said: 

    When we said we would end instability, make growth our national mission and enter a true partnership with business we meant it.  

    The decisions which lie ahead of us will not always be easy. But by taking the right choices to grow our economy and drive investment we will create good jobs and new opportunities across every part of the country. That is the Britain we are building. 

    The first announcement from the Chancellor was that from today the UK Infrastructure Bank will operate as the National Wealth Fund (NWF), with its headquarters in Leeds. 

    The National Wealth Fund will catalyse tens of billions of pounds of private investment into in the UK’s clean energy and growth industries, including green hydrogen, carbon capture and gigafactories.

    Building on UKIB’s leadership and expertise, the NWF will go further, able to make investments that maximise the mobilisation of private investment. This will include the ability to trial new blended finance solutions with government departments that take on additional risk to facilitate higher impact in individual deals and performance guarantees. 

    The National Wealth Fund will have a total of £27.8 billion and will work with key industry partners, including mayors, to support delivery of their investment plans. 

    The Government will also bring forward legislation to give the NWF a broader mandate than just infrastructure, ensuring it is a permanent part of government’s investment offer. 

    John Flint, CEO, at the National Wealth Fund said: 

    It is a huge privilege to be entrusted with the responsibility of leading the National Wealth Fund. Building on the strong foundations we have laid as UKIB, we will hit the ground running, using sector insight and investment expertise that the market knows and trusts to unlock billions of pounds of private finance for projects across the UK.

    With additional capital to deploy against a bigger mandate, we stand ready to help the market invest with confidence, in support of the Government’s growth ambitions.

    Alongside this the Chancellor, together with Secretary of State for Business and Trade Jonathan Reynolds, announced a new British Growth Partnership as part of the British Business Bank (BBB). 

    The BBB already supports the UK’s fastest growing, most innovative companies deploying £3.5bn to support over 23,000 businesses last year. 

    The British Growth Partnership will allow it to do more by creating a new way for the British Business Bank and institutional investors to invest in innovative companies together.

    Leveraging the British Business Bank’s market expertise, these long-term investments will be made independently of government on a fully commercial basis. In the coming months, the British Business Bank will seek to raise hundreds of millions of pounds of investment for this fund, with the aim of making investments by the end of 2025.

    Additionally, the government will implement a set of reforms to the British Business Bank’s financial framework that will increase its impact and increase its ability to respond flexibly to the market, including by putting the British Business Bank’s £7.9bn set of commercial programmes on a permanent footing.

    Louis Taylor, CEO, British Business Bank said:

    Today’s announcement is a strong endorsement of the British Business Bank’s 10-year track record, market access and capabilities. By establishing the British Growth Partnership, the Bank will encourage more UK pension fund investment into the UK’s fastest growing, most innovative companies. 

    In addition, reforms to the Bank’s financial framework, putting our £7.9bn commercial programmes on a permanent footing, means we can flexibly re-invest our investment returns over the long term to increase growth and prosperity across the UK.

    Today’s measures follow the Government announcing more than £24 billion of private investment for pioneering energy projects and thousands of jobs in the green industries secured ahead of International Investment Summit.

    This adds to the announcement last week that up to 500 UK manufacturing jobs are set to be supported as bus operator Go Ahead confirms a major £500 million investment to decarbonise its fleet. This includes creating a new dedicated manufacturing line and partnership with Northern Ireland-based UK bus manufacturer Wrightbus.    

    And it also builds on the Government confirming funding to launch the UK’s first carbon capture sites in Teesside and Merseyside. Two new carbon capture and CCUS enabled hydrogen projects will create 4,000 new jobs, in a boost for the economy and British industry, helping remove over 8.5 million tonnes of carbon emissions each year – the equivalent of taking around 4 million cars off the road.    

    Further quotes:

    Dame Julia Hoggett, CEO, London Stock Exchange Plc said:

    It is critically important for the growth of the UK economy that home grown companies are able to access the investment they need to grow, scale and stay in the UK. 

    Access to meaningful UK capital at the scaling phase has been a long-recognised challenge and so we are delighted that British Growth Partnership is being established to help address this problem. This will also facilitate more investment by UK pension schemes into scaling UK companies, providing greater returns for their savers and giving UK investors a greater stake in the UK economy.

    Sir Nicholas Lyons, Group Chair, Phoenix said:

    The UK needs scale and skills to convert our brilliant science and technology start-ups and university spinouts into the successful and sustainable companies of tomorrow.  British Growth Partnership will complement the private sector DC pension industry’s undertakings under the Mansion House Compact to expedite this, directing investment to deliver the best returns for our pension savers.

    Professor Sir John Bell, President, Ellison Institute of Technology said:

    Making sure the best innovative British companies can access the capital they need to scale and stay in the UK is critical for the future of the economy. The Chancellor’s announcement today of the new British Growth Partnership, in addition to confirming £7.9bn of permanent capital for the British Business Bank, are both very welcome and significant steps forward in solving this problem

    Sir Jonathan Symonds CBE, Non-Executive Chair, GSK said:

    This is a welcome step; encouraging institutional investment into the UK’s high-growth-potential companies can provide a real boost to the economy and generate better returns for individuals’ pension investments

    Brent Hoberman, Chairman and Co-Founder, Founders Forum Group, Founders Factory, firstminute capital said:

    It’s great to see the new government taking concrete steps to amplify the Mansion House reforms.   This new British Growth Partnership should help UK startups access further scale up capital to create more world leaders.

    Saul Klein, Co-founder, Phoenix Court and Member of the Council for Science and Technology said:

    The UK has more than 750 venture backed companies generating more than $25m in revenue – this is more than France, Germany, Sweden and the Netherlands combined. These companies have created over 200,000 new jobs and continue to grow but the UK still has $35bn less scale up capital to support these companies than the United States’ Bay Area alone.

    The government’s continued support for the British Business Bank and its focus on addressing this scale up opportunity will be very much welcomed by these 750 companies as well as the cohorts coming behind them.

    Peter Harrison, Group Chief Executive, Schroders plc said:

    These are further helpful initiatives in creating an environment where risk capital can flow into strategically important industries. Every step is welcome in supporting future economic growth.

    Edward Braham, Chairman, M&G said:

    We welcome the creation of the British Growth Partnership which should unlock much needed investment into the UK’s high growth innovative businesses.

    The combination of private and public sector partnerships, underpinned by long term patient capital, is essential to create the conditions for sustainable growth. 

    As a leading international investor, M&G has a proud history of supporting the progress of businesses and communities across the UK, investing in new innovative companies and private assets such as housing, hospitals and transport.

    Steve Bates OBE, CEO of the BioIndustry Association, said:

    Our world-leading, innovative life sciences and biotech sector is a unique competitive advantage for economic growth. The sector attracts expert global investors but a lack of investment from UK-based institutional investors means the economic and social returns are too often lost overseas.

    The British Growth Partnership will help turbo-charge innovative businesses with fresh UK-based capital, enabling them to scale in the UK and deliver more returns to the British economy, and to ordinary people saving for their retirement. This is a win-win-win for UK life science businesses, for UK pension savers and for the forward-thinking financial services sector.

    Kate Bingham, Managing Partner, SV Health and Former Chair UK Vaccine Taskforce welcomed the announcements saying:

    The UK has the potential to be a global leader and hub for healthcare breakthroughs with its strong entrepreneurial and academic base, together with our expertise and innovation in data science and artificial intelligence.

    Making the British Business Bank independent of government as well as launching the British Growth Partnership enables the Bank to catalyse institutional investment, including from pension funds, into brilliant UK companies that are supercharging the development of revolutionary medical treatments including smarter medicines for cancer, Alzheimer’s and blindness.

    Dom Hallas, Executive Director, Startup Coalition said:

    Tech startups and scaleups need a stable and improving funding environment to compete globally. The British Business Bank’s role in helping create that landscape is critical and today’s announcement will help the UK continue to build VC-backed tech companies across the country that are ready to compete with the very best.

    Michael Moore, Chief Executive, BVCA said:

    It is extremely welcome that the Government and the British Business Bank have brought this hugely significant programme forwards so quickly.

    The prize is to get significant new capital into the growth equity and venture capital funds that are creating new industries and backing innovative businesses that will be the backbone of the British economy of tomorrow. The British Business Bank has a vital role catalysing institutional investment into fast growing British businesses and this announcement will boost that work substantially.

    Just 3% of the pensions investment into UK led growth equity and venture capital funds is from UK pension funds. Alongside the Government’s pensions review this major new vehicle can be the start of a major shift that sees UK pensions savers get the improved retirement income that can come from backing funds which deliver active ownership and long-term investment in business.

    Kerry Baldwin, Co-Founder, Managing Partner, IQ Capital said:

    The launch of the British Growth Partnership and the confirmation of a permanent capital allocation for the British Business Bank are two crucial steps forward in solving the lack of access to domestic capital for the UK’s most promising growth companies.

    I very much welcome the Chancellor’s announcement today, she has been hugely engaged with the venture capital and technology sector, and champions the incredible societal impact that our sector enables through investments into innovative technologies across the UK.

    The British Business Bank has been at the heart of powering the next generation of UK venture and growth funds and the launch of the new fund is welcome as part of the pension reforms.  This fund will enable access to world-leading science and innovative investments which increase productivity by transforming legacy industries through the adoption of novel technologies and also by providing growth capital to the next generation of globally leading frontier technologies which are solving pressing critical global issues from climate change to energy transition.

    Dr Andrew Williamson, Managing Partner, Cambridge Innovation Capital, and member of BVCA Council said:

    Since its formation in 2018, British Patient Capital has played a central role in the growth of the UK’s knowledge-intensive innovation ecosystem.  It has built a world leading team and investment platform with a strong track record of investing in UK deeptech and life sciences companies and the venture capital funds that support these companies. 

    The British Growth Partnership will make the Bank’s extensive expertise available to a broader range of institutional investors, providing attractive returns for those investors and increasing the capital available for leading UK start-up and scale-up businesses.

    Duncan Johnson, Chief Executive Officer, Northern Gritstone said:

    We at Northern Gritstone believe that skilled partnerships that channel patient investment into long-term growth and innovation are more important than ever for the UK. 

    By establishing the British Growth Partnership, the British Business Bank is creating a pathway for pension funds and institutional investors to support the future today. Through investment we can create and scale the world class businesses of tomorrow in the UK which is the platform for growth for our economy over the decades to come.

    Irene Graham OBE, CEO, ScaleUp Institute said:

    The ScaleUp Institute has long evidenced the important role of development banks and Sovereign Wealth Funds to global scaleup economies.  The Government’s  placement of the British Business Bank commercial initiatives into permanency, with greater  flexibility, alongside the creation of the great British Growth Partnership are very much welcome and represent significant milestones for the UK economy. 

    Alongside a National Wealth Fund these entities and commitments should further address structural, regional and sectoral disparities and ensure our innovative scaling businesses across the country are better connected, at all stages of growth, to the vital patient capital and institutional funds to enable their global scale and continue to foster our international competitiveness.

    Lisa Quest, Managing Partner UK and Ireland, Oliver Wyman:

    Today’s announcement is a significant milestone for the UK economy. The National Wealth Fund will increase investment across key sectors and accelerate the UK’s clean energy transition. I look forward to the many contributions this initiative will unlock for years to come.

    Dr Rhian-Mari Thomas, Chair of the Taskforce and CEO of the Green Finance Institute said:

    The NWF creates an opportunity for simplification and scale. The challenge now is to ensure it delivers private capital at the pace we need, through innovative risk-sharing transactions in new technologies.

    On top of today’s announcements, the government expects both successful bidders of the Long-Term Investment for Technology and Science (LIFTS) competition, Schroders and ICG, to begin making investments via their new funds in late 2024. Supported by pensions capital from Phoenix Group, the aim is to generate over a billion pounds of investment into UK science and technology companies.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI: Correction: Invesco Ltd: Form 8.3 – StoneX Group Inc; Opening Position disclosure

    Source: GlobeNewswire (MIL-OSI)

    Amendment – this form replaces the Rule 8.3 Disclosure published at 10:58 on 14/10/2024. Changes have been made to section 1(f) of the form.

    FORM 8.3

    OPENING POSITION DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Invesco Ltd.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 StoneX Group Inc.  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 10.10.2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 No  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: Common US8618961085  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 437,054 1.37      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 437,054 1.37      
       
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    Common US8618961085 Purchase 63 85.56 USD  
    Common US8618961085 Sale 256 85.56 USD  
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements, or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 14.10.2024  
    Contact name Philippa Holmes  
    Telephone number +441491417447  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI USA: Welch Statement on Indigenous Peoples’ Day

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    BURLINGTON, VT – U.S. Senator Peter Welch (D-Vt.) today released the following statement on Indigenous Peoples’ Day:
    “On Indigenous Peoples’ Day, we recognize the strength, resilience, and contributions of Indigenous communities. The four Tribes and bands of Vermont – the Elnu Abenaki Tribe; the Nulhegan band of the Coosuk Abenaki Nation; the Koasek Abenaki of the Koas; and the Abenaki Nation of Missisquoi – offer us all the chance to gain a deeper understanding of their extraordinary history, traditions, and culture.
    “For centuries, Indigenous peoples around the world have been subjected to discrimination, threats, attacks, and killings as they peacefully defend their rights, their lands, and their livelihoods. As the climate crisis worsens, Indigenous communities face existential threats from deforestation, large scale agriculture, and the extraction of minerals, hydrocarbons, and other resources in their territories.
    “Today and every day, we must recognize that our debt to Indigenous communities across the country goes beyond what we can ever repay. The U.S. and other governments have a responsibility to improve our work to defend the rights, respect the cultures and traditions, and address the needs of Indigenous people.”

    MIL OSI USA News –

  • MIL-OSI Europe: New rules strengthen air quality standards in the EU

    Source: European Union 2

    The EU has adopted new rules on air quality standards that will help prevent premature deaths due to air pollution. They will also contribute to the EU’s objective of zero pollution by 2050 and permit EU citizens to seek compensation in cases where EU air quality rules are not respected.

    MIL OSI Europe News –

  • MIL-OSI Europe: New rules to improve working conditions of platform workers

    Source: European Union 2

    Newly adopted EU rules will improve working conditions for the more than 28 million people working in digital labour platforms across the EU. They will help people benefit from their labour rights, and make the use of automated human resource procedures more transparent.

    MIL OSI Europe News –

  • MIL-OSI Europe: Persons with disabilities set to benefit from new laws on parking cards

    Source: European Union 2

    The EU has adopted a new law that will establish a European disability card and a European parking card for persons with disabilities. These two cards will entitle users to special conditions or preferential treatment during short stays in the EU, such as priority access and zero entry fees.

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: Appeal for information on wandering man in Castle Peak (with photo)

    Source: Hong Kong Government special administrative region

         Police are eager to locate the next-of-kin of a man who was found wandering in Castle Peak today (October 14).

         At about 6pm, Police received a report that a man was found wandering at a bus stop on Wu Chui Road.

         The man is about 25 years old. He is about 1.8 metres tall and of thin build. He has a pointed face with yellow complexion and short black hair. He wore a pair of black glasses, a brown short-sleeved shirt, black trousers and grey sports shoes. No identity document was found.

         The man, sustaining no superficial injuries, was sent to Tuen Mun Hospital for check-up.

         Police urge his relatives or anyone who has information, to contact any police station or the officers of Castle Peak Division on 3661 5900 or 3661 5925 or email to do-rr-4-cpkdiv@police.gov.hk.   

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CSTB holds interdepartmental meeting in response to the death of animals in HKZBG

    Source: Hong Kong Government special administrative region

    CSTB holds interdepartmental meeting in response to the death of animals in HKZBG
    CSTB holds interdepartmental meeting in response to the death of animals in HKZBG
    *********************************************************************************

         ​In view of the death of eight animals in Hong Kong Zoological and Botanical Gardens (HKZBG) yesterday (October 13), the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, convened an urgent interdepartmental meeting today (October 14) to listen to reports on the latest situation by the Leisure and Cultural Services Department, the Agriculture, Fisheries and Conservation Department as well as the Department of Health, and to discuss the way forward.     The meeting noted that the park staff have immediately stepped up monitoring of the conditions of all animals since yesterday. The movement response and appetite of a White-faced Saki and a De Brazza’s Monkey were found unusual and they were removed from the original animal cages for close monitoring. The White-faced Saki has passed away this morning. The Park will continue to observe its status of the remaining De Brazza’s Monkey.     The Mammals Section of the HKZBG has been temporarily closed from this morning to facilitate the close monitoring of the conditions of those animals. The disinfection and cleaning of animal cages involved were completed. The health condition of all 80 animals in the HKZBG are normal. For the sake of prudence, staff working there will wear appropriate protective gear and keep a close watch on their health condition. At present, all staff is in healthy condition.     In addition, the meeting discussed the different scenarios of case development and solutions. Relevant government departments will speed up autopsy and toxicological testing by relevant departments, so that the possible causes of the incident could be known as soon as possible.

     
    Ends/Monday, October 14, 2024Issued at HKT 23:12

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: GUU at the IX BRICS Legal Forum 2024

    MILES AXLE Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    A representative of the State University of Management took part in the IX BRICS Legal Forum 2024 “Law on Guard of a Just World”.

    Researcher, Associate Professor Anna Churikova presented a report on the topic “Digital Transformation of Local Government in Brazil”. Based on the analysis of foreign law enforcement practice, legislation and scientific literature, the work identified the main problems of legal regulation of the digital transformation of local government in the BRICS countries and proposed ways to solve them.

    The report generated interest among scientists and discussions on the topic of digital transformation of local governments.

    The research, the results of which were presented in the report, was carried out with the help of the grant of the Russian Science Foundation No. 23-28-01252 “Transformation of the institution of local self-government in the Russian Federation in the context of the development of modern digital technologies: legal aspects” with the organizational support of the State University of Management.

    The founders and organizers of the forum are: Brazilian Bar Association, Russian Bar Association, Indian Bar Association, Chinese Law Society, Law Society of South Africa, East China University of Political Science and Law, University of Cape Town.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/14/2024

    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.

    GUU at the IX BRICS Legal Forum 2024

    MIL OSI Russia News –

  • MIL-OSI Economics: John C Williams: All about data

    Source: Bank for International Settlements

    Introduction

    Good morning. I’m so pleased to be here at Binghamton University, a true gem of the SUNY system. Meeting with students, educators, and business and community leaders is a valuable and enjoyable part of my job.

    The New York Fed represents the Federal Reserve System’s Second District, which includes New York State, northern New Jersey, western Connecticut, Puerto Rico, and the U.S. Virgin Islands. This is a diverse region made up of many smaller local economies. Therefore, it’s important for me and my colleagues at the New York Fed to collect data and learn about the challenges and opportunities facing all of the communities we serve.

    That said, monetary policy affects everyone, and the Federal Reserve is committed to using its tools to achieve its dual mandate of maximum employment and price stability. Today, I will talk about monetary policy and how the Fed is working to fulfill this dual mandate. I’ll also give you my outlook on the U.S. economy.

    Before I do, I will give the standard Fed disclaimer that the views I express today are mine alone and do not necessarily reflect those of the Federal Open Market Committee (FOMC) or others in the Federal Reserve System.

    Obsessing Over Data

    As I’ve traveled around the Southern Tier region, I’ve enjoyed seeing the emergence of the colors of autumn. Tracking fall foliage is a hobby for many. What I like is that it’s all about data. “Leaf peepers” submit field reports on changing color conditions, and experts pore over the information. One forecast predicts we will hit peak foliage in four days.1

    At the Fed, we’re equally obsessed with data. In our case, we study data about the economy-whether here in the district, across the country, or around the world. So, I’ll highlight some of the data that help my understanding of how the economy is performing relative to our dual mandate goals, as well as what policy actions we can take to achieve these goals.

    When inflation became unacceptably high and the labor market exceptionally tight, the FOMC acted with resolve to bring inflation back down to our 2 percent longer-run target. The Committee’s strong actions have helped bring the economy much closer to our goals. Imbalances between supply and demand in the economy have mostly dissipated, even as the economy and employment have continued to grow. And inflation, as measured by the personal consumption expenditures (PCE) price index, has declined from over 7 percent in June of 2022 to just 2-1/4 percent in the latest reading. There’s still some distance to go to reach our goal of 2 percent, but we’re definitely moving in the right direction.

    The data paint a picture of an economy that has returned to balance, or in a word that the English majors in the room may appreciate, “equipoise.” In light of the progress we have seen in reducing inflation and restoring balance to the economy, the FOMC decided at its most recent meeting to lower the interest rate that it sets. Simply put, this action will help maintain the strength of the economy and labor market while inflation moves back to 2 percent on a sustainable basis.

    Moving to Price Stability

    I’ll go further into our policy decision and what it means for the economic outlook in a minute. But first, I’ll give more details about each side of our dual mandate, starting with inflation. I’ll use an onion analogy that I have found useful over the past two years to demonstrate how inflation’s three distinct layers are normalizing at different rates.2

    The onion’s outer layer represents globally traded commodities. As the economy started to rebound from pandemic shutdowns and demand began to soar, inflation surged, then rose further when Russia invaded Ukraine. Since then, supply and demand have come into balance, and these prices have generally been flat or falling.

    The middle onion layer is made up of core goods, excluding commodities. Demand for goods rose sharply as the economy emerged from the pandemic downturn-just as global pandemic-related supply-chain disruptions significantly hampered supply. But, as seen in the New York Fed’s Global Supply Chain Pressure Index, those supply pressures have eased, and core goods inflation has returned to pre-pandemic norms.3

    The inner onion layer comprises core services. Although this category is taking the longest to normalize, the disinflationary process is well underway here too. For example, measures of underlying inflation that tend to be heavily influenced by core services inflation today average around 2-1/2 percent.4

    One positive piece of data that reinforces my confidence that inflation is on course to reach our 2 percent goal is that inflation expectations remain well anchored across all forecast horizons. This is seen in the New York Fed’s Survey of Consumer Expectations as well as other surveys and market-based measures.5

    A Labor Market in Balance

    Now I’ll turn to the employment side of our mandate. And no surprise, I’ll point to data. A wide range of metrics-including the unemployment rate; measures of job openings, hiring, quits, and employment flows; and perceptions of job and worker availability-indicate that the very tight labor market of the past few years has now returned to more normal conditions and is unlikely to be a source of inflationary pressures going forward.

    Recent analysis by researchers at the New York Fed provides a useful way to gauge whether the labor market is tight or loose.6 They find that you can effectively summarize the state of the overall labor market in terms of its effect on compensation growth by using just two indicators: the rate at which employees quit their jobs and the ratio of job openings to job seekers. In fact, once you take these two measures into account, other labor market metrics that get a lot of attention-such as the unemployment rate and the vacancy-to-unemployment ratio-don’t provide additional useful information. 

    Combining these two measures into an index of labor market tightness provides two key insights. First, data as of the second quarter of this year indicate that the labor market is about where it was in early 2018-a period of solid labor market conditions and low inflation. Second, compensation growth should soon return to levels that prevailed prior to the pandemic.

    Seasons of Change

    So, the labor market is solid. The economy is in a good place. And inflation is closing in on our 2 percent longer-run goal. With the risks to achieving our goals now in balance, the FOMC decided to lower the target range for the federal funds rate by half a percentage point, to 4-3/4 to 5 percent. In addition, the Committee continued to normalize the holdings of securities on the Fed’s balance sheet.7

    Looking ahead, based on my current forecast for the economy, I expect that it will be appropriate to continue the process of moving the stance of monetary policy to a more neutral setting over time. The timing and pace of future adjustments to interest rates will be based on the evolution of the data, the economic outlook, and the risks to achieving our goals. We will continue to be data-dependent and attuned to the evolution of economic conditions in making our decisions.

    With monetary policy moving to a more neutral setting over time, I expect real GDP to grow between 2-1/4 and 2-1/2 percent this year and to average about 2-1/4 percent over the next two years. I anticipate the unemployment rate to edge up from its current level of about 4 percent to around 4-1/4 percent at the end of this year and stay around that level next year. With the economy in balance and inflation expectations well anchored, I expect overall PCE inflation to be around 2-1/4 percent this year, and to be close to 2 percent next year.

    Conclusion

    The economy has been on a remarkable journey. In two years, the red-hot labor market has normalized, and inflation has come within striking distance of our 2 percent longer-run goal-all while employment and the economy continue to grow.

    We instituted and maintained a very restrictive monetary policy stance until the data gave us confidence that inflation is sustainably on course to 2 percent. With this progress toward achieving price stability, moving toward a more neutral monetary policy stance will help maintain the strength of the economy and labor market. Although the outlook remains uncertain, we are well positioned to achieve our dual mandate goals.

    MIL OSI Economics –

  • MIL-OSI Economics: Shaktikanta Das: Central banking at crossroads

    Source: Bank for International Settlements

    I feel highly privileged to be here at this High Level Conference on ‘Central Banking at Crossroads’ and share some of my thoughts. When the definitive history of our times is written, the turn of the current decade will, in all probability, be regarded as a watershed in the evolution of central banking. In the aftermath of the COVID-19 pandemic and the persistent geopolitical strife thereafter, central banks are treading in the uncharted terrain of a twilight zone. Today, like never before in the five centuries of their existence, central banks are confronted with a future where their mandates, their functions and their performances are all up for unforgiving scrutiny.

    Around them, the environment in which central banks have been operating is undergoing tectonic transformations. Structural changes are underway that have the power to fundamentally alter the context of central banking with headwinds from geo-economic fragmentation; muscular industrial, trade and financial policies that are already reshaping supply chains and the availability of critical minerals, intermediates, resources and services; new technologies; and climate change. In this rapidly evolving environment, central banks are required to navigate not just known unknowns but unknown unknowns too.

    Yet, even at these exceptional intersections, central banks are exploring new pathways and striving to reinvent their remit and functioning as the guardians of financial stability. Their effort is to stay ahead of these developments by strengthening guardrails and leveraging on technological innovations.

    For the Reserve Bank of India (RBI), as we commemorate its 90th year, it has been an eventful journey since its establishment in 1935. In many significant ways, the Reserve Bank embodies the developmental aspirations of India. The landmarks of its journey are equally milestones in the progress of India. At the current juncture and looking ahead, developments around the world are impacting India on a continuous basis and challenging us as practitioners of central banking.

    Today’s conference gives us an opportunity to introspect on the journey of central banking so far and how we want to visualise and shape our role in the future. In my remarks today, I propose to briefly focus on three areas where central banking is likely to be redefined in the future: monetary policy; financial stability; and new technologies. In fact, these are among the themes of specific sessions in today’s conference. My observations would be mainly in the context of central banking across countries.

    Monetary Policy

    The three decades of restrained volatility of business cycles and the co-existence of price stability and uninterrupted growth that preceded the global financial crisis (GFC), perhaps lulled central banks into the belief that inflation expectations are enduringly anchored. The beast of inflation of the 1970s and early 1980s seemed completely behind our times. Conditioned by that experience, central banks shed their role of ‘lender of the last resort’ and became lender of the first resort to defend their financial systems when they responded to the GFC. They continued from their GFC moment and once again rushed to the frontline as warriors of the first resort to protect and preserve lives and livelihood when the COVID-19 pandemic hit the world. They took interest rates to all-time lows, undertook unconventional policy measures to reach out to interest rates across the spectrum, including at the longer end, and gave assurances about low for longer interest rates. This was an uncharacteristic departure from the monetary mysticism that had prevailed up to the 1990s. Clearly, central banking has evolved in line with the developments of the 21st century.

    While the pandemic time measures provided the much needed support to the economies, in the aftermath of the pandemic the limits and downsides of easy monetary policy in protecting economic activity in a crisis period became evident. Today, rightly or wrongly, the central banks are accused of distributional consequences of their actions. The negative equity that weighs in the balance sheets of certain central banks is seen as compromising their independence in the conduct of monetary policy. The story in India was, however, different as most of our liquidity measures were calibrated and carried end dates at the time of their announcement itself.

    Another challenge staring at central banks today emanates from soaring public debt caused, in a considerable measure, by the pandemic-related fiscal stimuli and the subsequent efforts for fiscal consolidation not gaining adequate traction. Such a situation is becoming a binding constraint on monetary policy in several countries. Global public debt has surged post the pandemic to 93.2 per cent of GDP in 2023 and is likely to increase to 100 per cent of GDP by 20291. In major economies, debt-GDP ratios are on an upward trajectory, raising concerns about their sustainability and their negative spillovers for the broader global economy. In several other countries, central banks are willy-nilly expected to facilitate financing of such huge public debts. In fact, the debt overhang is simmering underneath the radar of central banks, threatening to un-anchor inflation expectations and undermine macroeconomic stability.

    For emerging market economy (EME) central banks, the international dimensions of monetary policy continues to be a testing challenge. For them, the trilemma is real. Today the global economy is more financially integrated than ever before. Monetary policy actions in systemic economies produce large fluctuations in capital flows and exchange rates, which can then feed into domestic liquidity, inflation and eventually affect the real economy. While monetary policies in the systemic economies are determined by their domestic inflation-growth considerations, they have large spillovers to the emerging and developing economies and even to other advanced economies. These spillovers can be expected to accentuate as capital flows dwarf trade flows. Quite naturally, emerging economies are having to strengthen their policy frameworks and buffers to manage this external flux and mitigate its adverse consequences.

    Financial Stability

    Financial stability is the essential reason why central banks exist. Price stability as a central bank objective is of more recent vintage. There is a growing opinion today that ‘low for long’ policies practiced during the GFC and again during the pandemic, apart from providing support to the real economy, also produced exuberant financial asset prices that have come back to haunt central banks in their role as guardians of financial stability. Amidst ultra-low interest rates and super abundant liquidity, leveraging and risk-taking were celebrated as if there is no tomorrow. Consequently, when central banks were confronted with inflation surges in 2022 in the shadow of the war in Ukraine, they reacted with one of the most aggressive and synchronised tightening of monetary policies in history. This resulted in risks to financial stability, especially when these risks morphed into banking crises in certain countries in March 2023 and sell-offs in financial markets in August and September 2024. These developments have once again brought to fore the role of central banks in securing and preserving financial stability. Specifically, how should they account for financial stability considerations in their pursuit of price stability?

    Let me now address some of the emerging risks to financial stability. First, the divergence in global monetary policies – monetary easing in some economies, tightening in a few, and pause in several other economies – can be expected to lead to volatility in capital flows and exchange rates, which may disrupt financial stability. We saw a glimpse of this with the sharp appreciation of the Japanese Yen in early August which led to disruptive reversals in the Yen carry trade and rattled financial markets across the globe.

    Second, private credit markets have expanded rapidly with limited regulation. They pose significant risks to financial stability, particularly since they have not been stress-tested in a downturn.

    Third, higher interest rates, aimed at curtailing inflationary pressures, have led to increase in debt servicing costs, financial market volatility, and risks to asset quality. Stretched asset valuations in some jurisdictions could trigger contagion across financial markets, creating further instability. The correction in commercial real estate (CRE) prices in some jurisdictions can put small and medium-sized banks under stress, given their large exposures to this sector. The interconnectedness between CRE, non-bank financial institutions (NBFIs), and the broader banking system amplifies these risks.

    New Technologies

    In recent years, the technology-driven digitalisation wave in the payments sphere has been revolutionary. While most of the innovations have been at the national level focusing on retail payments, the market for cross-border payments has also expanded substantially. The significant volume of cross-border worker remittances, the growing size of gross flows of capital, and the increasing importance of cross-border e-commerce have acted as catalysts to this growth.23 Remittances are the starting point for many emerging and developing economies, including India, to explore cross-border peer-to-peer (P2P) payments. We believe there is immense scope to significantly reduce the cost and time for such remittances.

    India is one of the few large economies with a 24×7 real time gross settlement (RTGS) system. The feasibility of expanding RTGS to settle transactions in major trade currencies such as USD, EUR and GBP can be explored through bilateral or multilateral arrangements. India and a few other economies have already commenced efforts to expand linkage of cross-border fast payment systems both in the bilateral and multilateral modes.4

    India has developed a world-class digital public infrastructure (DPI), which has facilitated the development of high-quality digital financial products with enormous potential for cross-border payments. India is now home to the world’s third most vibrant startup ecosystem, with over 140,000 recognised startups, more than a hundred unicorns, and over US$150 billion in funding raised. India’s experience in DPI can be leveraged by other countries to improve and usher in a global digital revolution.

    Central bank digital currencies (CBDCs) is another area which has the potential to facilitate efficient cross-border payments. India is one of the few countries that have launched both wholesale and retail CBDCs. Programmability, interoperability with the UPI retail fast payment system and development of offline solutions for remote areas and underserved segments of the population, are some of the value added services which we are now experimenting as part of our CBDC pilot.

    Going forward, harmonisation of standards and interoperability would be important for CBDCs for cross-border payments and to overcome the serious financial stability concerns associated with cryptocurrencies. A key challenge could be the fact that countries may prefer to design their own systems as per their domestic considerations. I feel we can overcome this challenge by developing a plug-and-play system that allows replicability of India’s experience while also maintaining the sovereignty of respective countries.

    It is well recognised that growing digitalisation of financial services has enhanced the efficiency of the financial sector across the globe. At the same time, it has brought in several challenges which central banks have to deal with. For instance, in the modern world with deep social media presence and vast access to online banking with money transfer happening in seconds, rumours and misinformation can spread very quickly and can cause liquidity stress. Banks have to remain alert in the social media space and also strengthen their liquidity buffers.

    Latest technological advancements such as artificial intelligence (AI) and machine learning (ML) have opened new avenues of business and profit expansion for financial institutions. At the same time, these technologies also pose financial stability risks. The heavy reliance on AI can lead to concentration risks, especially when a small number of tech providers dominate the market. This could amplify systemic risks, as failures or disruptions in these systems may cascade across the entire financial sector. Moreover, the growing use of AI introduces new vulnerabilities, such as increased susceptibility to cyberattacks and data breaches. Additionally, AI’s opacity makes it difficult to audit or interpret the algorithms which drive decisions. This could potentially lead to unpredictable consequences in the markets. Banks and other financial institutions must put in place adequate risk mitigation measures against all these risks. In the ultimate analysis, banks have to ride on the advantages of AI and Bigtech and not allow the latter to ride on them.

    Conclusion

    Despite the difficult trials and trade-offs, central banking in the current decade is a success story. In the realm of monetary policy, central banks have been successful in bringing inflation closer to targets. Major financial collapses or recessions, seen during earlier episodes of crisis, have been averted. Central banks are now at the forefront of technological innovations and are driving them through sandboxes, innovation hubs and hackathons.

    As we navigate the high intensity tail events and black swans of the current decade, the lessons imbibed can well form the basis of our deliberations today to chart out a course for the future. Central banks must remain vigilant, adaptable, continuously assess risks and build resilience. They should remain prepared to navigate complex challenges, support sustainable growth, maintain price stability and promote sound and vibrant financial systems.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Economics: Adrian Orr: Improving Māori access to capital

    Source: Bank for International Settlements

    Introduction

    Kia orana tatou katoatoa, tēnā tātou katoa
    Ngāti Tūwharetoa, te whare tapu o Te Heuheu, tēnā koutou
    Ko Tongariro te maunga
    Ko Taupo te moana
    Ko Taupo te whenua tipu
    Heoi, nō Atiu ōku tīpuna
    Nō reira tēnā koutou, tēnā koutou, tēnā tatou katoa

    I would like to acknowledge Tā Tumu Te Heuheu and the iwi of Ngāti Tūwharetoa, whose leadership continues to inspire and guide us.

    Ngā mihi nui ki a koutou.

    All of you will be familiar with the kaupapa kōrero today, Māori access to capital.

    Kiingi Tawhiao established Te Pēke o Aotearoa in around 1885 to support a growing Māori economy. At that time the financial system was excluding Māori. Te Pēke o Aotearoa was a response. It was a vehicle for Māori to participate in this new system.

    Te Peeke o Aotearoa was a pioneer for financial inclusion that was for all New Zealanders. Historians point to an inscription on each of the banknotes saying ‘e whaimana ana tenei moni ki ngā tāngata katoa’, meaning ‘this money is valid for all people’.

    This highlights the inclusive goal that was pursued, a mindset we can all learn from.

    Why Māori access to capital matters

    Financial inclusion means that people have access to financial products and services that meet their needs. All New Zealanders should be able to benefit from inclusion in the financial system. At the Reserve Bank, we would be at a loss if we did all the hard work to promote a financial system that was strong, stable, and efficient, only for people to tell us that they are unnecessarily excluded.

    MIL OSI Economics –

  • MIL-OSI Economics: Eddie Yue: China and the changing global trade landscape – challenges and opportunities

    Source: Bank for International Settlements

    Professor Wei [Shang-Jin, N.T. Wang Professor of Chinese Business and Economy, Columbia University], Distinguished guests, Ladies and Gentlemen, Good Morning!  

    It is my pleasure to welcome you all to the 14th Annual International Conference on the Chinese Economy, organised by the Hong Kong Institute for Monetary and Financial Research. The theme of this year’s conference is “China and the Changing Global Trade Landscape: Challenges and Opportunities”.  This is a timely and important topic – not just for China, but also with far-reaching and enduring implications for the global economy.     

    There is ample evidence that globalisation has brought enormous benefits to the world, through increasing cross-border flow of trade, investments, technology, ideas, and people. For emerging market economies, integration into the global supply chain has been a crucial contributor to their economic development.  As global income rose in tandem with global trade from the 1980s onwards, billions of people have been lifted out of poverty. 

    Since the 2008 global financial crisis, however, the golden era of globalisation has given way to a gradual slowdown in global trade in goods. There is a combination of factors.  First, it reflects doubts or even scepticism about the distributional effects of globalisation.  Secondly, rising geopolitical considerations in recent years have led to a re-imposition of various trade and investment restrictions by some jurisdictions.  And thirdly, recent disruptions to supply chain, caused by the pandemic and regional military conflicts, have prompted discussions about ways to mitigate such risks.

    These developments have not yet translated into a wholesale reconfiguration of the global trade landscape. But it appears that the slow-down in global goods trade is likely to continue.  A recent joint study by the HKMA and the Bank for International Settlements (BIS) suggests that some supply chain realignment has already been taking place during the pandemic.  

    Any escalation of geo-economic fragmentation would almost certainly result in a costly transition, especially for Asia given the region’s relatively open economies. For those who believe in the value of free trade and globalization, the key question then is how best to collectively minimise the risks of full blown economic fragmentation, and what actions can be taken to sustain globalisation, even in the face of a changing global trade landscape?

    Since this is a conference about the Chinese economy, perhaps we can start with a quick examination of how China is adapting to the change and turning the challenge into opportunity. Despite the headwinds in the trade sector, China’s world export share has remained at around 15 per cent since 2018.  This reflects two important trends. 

    First, China has continued its economic diversification and regional collaboration through expanding its import and export network, particularly to broader emerging markets. It has also stepped up outward direct investments to establish stronger footholds in the global supply chain amidst friend-shoring or near-shoring.

    Second, China’s manufacturing industries have doubled down on their efforts to move up the value chain, from low-end, labour-intensive component manufacturing to higher-tech, full-spectrum product manufacturing, supported by China’s own domestic market and growing capability in more sophisticated technology goods.

    Indeed, this is a process that pre-dates the recent rise in global trade protectionism, if just for the classic reason of comparative advantage. What we have witnessed is that even as some production may have been diverted away from China, these have been largely concentrated in a few sectors – namely, textiles, electronics and autos – and in the assembly segment rather than upstream.  While Chinese exports might take up a smaller share of some markets as a result, it is exporting more intermediate goods and capturing a larger share of imports from other regional economies. 

    China’s search for new trade opportunities through diversification and supply chain upscaling has brought structural transformation to the Chinese economy and helped maintain China’s key position in global manufacturing. The process, together with other changes in the global supply chain, will bring fundamental changes to global trade and investment.  It would be premature to predict what the new order will be.  But one thing is for sure, those who embrace the change and rise to the challenge will benefit greatly, and it should not be a zero-sum game. 

    Now let me shift gear and touch on some emerging opportunities we are going to discuss at this conference. I will focus on two panel themes: digital trade transformation and innovative trade finance – two topics that are increasingly relevant as we transition towards a digitalised global economy.

    Digitalisation of trade offers a range of benefits. For firms, digital transformation of trade and supply chain processes can produce efficiencies in terms of time and labour saved. It also enhances the traceability and security of cross-border trade in goods and services, by enabling real-time visibility into all stages of the supply chain from production to delivery.

    For economies, digital trade transformation offers substantial productivity gains through, for example, rapid growth of e-commerce. It also offers better prospects of helping to distribute the gains generated from trade more widely and equitably among the various stakeholders. 

    Indeed, digitally delivered services already account for a little over half of total services trade1. They are increasingly facilitating trade flow across borders, in support of raising the market share of developing economies, which has increased from about 20 percent to 30 percent of global service trade between 2005 and 2023. 

    Meanwhile, digital technologies can be leveraged to enhance cross-border trade settlement and financing, where there is plenty of scope for coordinated solutions to existing pain points. For example, Project mBridge has been exploring the use of wholesale central bank digital currencies of Hong Kong and a number of other participating central banks as a way to speed up cross-border payments at reduced cost, faster settlement, and with better transparency. 

    Equally exciting is the use of innovative technologies in trade finance – from blockchain, AI to digital signatures – and greater cooperation around cross-border interoperability that will help close the widening global trade finance gap, estimated by the Asian Development Bank last year to have reached a record US$2.5 trillion.

    Another area of opportunity and cooperation is around green technologies. The consequences of climate change, in the form of higher frequency of extreme weather events, have only become more visible these last few years, and Asia is particularly exposed. 

    We need open and predictable trade to enable scale economies and direct low-carbon technologies and services to where they are most needed. In this respect, major regional trade networks can serve as key platforms that facilitate sustainable trade and investment, support climate-resilient economic developments, and enhance the ecosystem of green finance.

    Let me close by noting that the global trading system as we know has brought mutual benefits and shared prosperity to the world economy. Granted, there’s always scope to make the system work better and fairer.  Let’s focus not just on the challenges, but more on the solutions and the opportunities.  

    There are excellent research papers to be presented at the conference, covering many of the topics I outlined just now. So I wish you all a most engaging and productive conference. 

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Economics: Joachim Nagel: Introducing a digital euro – the cross-border dimension

    Source: Bank for International Settlements

    Check against delivery 

    1 Introduction

    Dear Governor Das,

    dear colleagues,

    ladies and gentlemen,

    I am delighted to be here with you today, at this wonderful location, visiting this wonderful country – one of the cradles of world civilisation and culture. 

    The Reserve Bank of India is currently celebrating its foundation 90 years ago. My heartfelt congratulations to all members of staff on this anniversary! Last year, Indian real-time payment systems processed about 129 billion digital transactions.1 This means that 84% of electronic payment transactions took place in real time. During the same period, only about 19% of electronic payments worldwide were real-time transactions. In my view, this is impressive evidence of the excellent work the RBI has accomplished over the last few years.

    Payment systems and their cross-border interaction are also an important topic at this conference. This is because cross-border payments are an integral part of our globalised world. Historically, from the Renaissance to modern times, correspondent banks have acted as the bedrock for cross-border payment transactions.2 However, even today, transferring funds by means of correspondent banking is often slow, involves many steps and may result in high and non-transparent fees. 

    Moreover, in the last two decades, correspondent banking has been subject to a downward trend, mainly due to increasingly strict compliance requirements. Between 2011 and 2022, the number of active correspondents decreased by roughly one third, while the value of cross-border payments increased by almost 40%.3 Obviously, this is an alarming trend in terms of market competition.

    To some extent, technical progress might be able to compensate for a tighter correspondent banking market. In particular, in the last decade, a number of FinTech companies have provided new opportunities to streamline cross-border payments using innovative methods like blockchain and digital wallets.  The FinTech revolution focused on private money. However, it now appears there may be another revolution on the horizon – this time involving payments in central bank money: the introduction of central bank digital currencies (CBDC).

    In my talk, I would like to address CBDC developments with a particular focus on cross-border payments. First, I will outline some general points about the potential impact and benefits of the introduction of CBDC for processing cross-border transactions. Second, I will aim to highlight this topic in the context of the Eurosystem’s work on a digital euro – the envisaged European retail CBDC.

    2 CBDCs and cross-border payments

    Given that there are correspondent banks and FinTechs working on digital innovations as well, let me begin with a question. What would be the additional benefits of CBDCs in the area of digital payments? The introduction of CBDCs would facilitate a setup of new infrastructures for digital payments. On the one hand, this makes high initial investment necessary. On the other hand, once a CBDC is established with its new infrastructure, it could catalyse broad improvements in payment systems, including cross-border transactions – by introducing new message standards and shorter process chains, for example.4

    Starting on a green field may be one major advantage of CBDCs. Experience shows that, in particular, implementing common standards is not an easy task. Take ISO 20022, for example.5 The International Organisation for Standardisation proposed this common standard for financial messages in cross-border payments in 2004. It will be probably more widely used in payment systems on a global level next year – 21 years after the initial proposal. This period feels even longer when you think of all the innovations that have taken place in the meantime – the first iPhone was presented in 2007, the concept of a decentralised blockchain in 2008.

    However, to be able to reap the benefits for cross-border payment, interoperability between CBDCs must be ensured early on. To this end, central banks should already begin to consider the best ways for interaction in the planning phase. In my view, we have a historic opportunity to vastly improve cross-border transactions by making different CBDCs interoperable from the very beginning.

    Indeed, a number of projects are already researching the best ways of making CBDCs interoperable. For instance, the Bank for International Settlement (BIS) Innovation Hub in Singapore and a number of national central banks in the Indo-Pacific region set up Project Dunbar to explore how a common platform for CBDCs could enable cheaper, faster and safer cross-border payments.6

    I am strongly in favour of a multilateral approach in this area, because this best serves the interests of all participants. If central banks proceed in a largely unilateral way instead, we not only risk inefficiencies, but also undesirable interferences. Consider a scenario in which a CBDC is made available for holders abroad in a unilateral way. In such a case, we could see currency substitution or appreciation pressure for the domestic currency. Also, the balance sheet of the CBDC emitting central bank could strongly expand. A knock-on effect may be that domestic monetary policy in countries that suffer from increased currency substitution becomes less effective. By contrast, a multilateral approach including reasonable holding limits could mitigate these risks.

    Meanwhile, the RBI has made valuable contributions to the topic of retail CBDC. The digital rupee based on blockchain technology was launched on 1 December 2022. It is issued by the central bank and distributed by commercial banks. As I understand it, the RBI intends to tap the potential for using CBDCs in cross-border payments as well.

    3 A digital euro: The cross-border dimension

    In the Eurosystem, we expect a digital euro to be launched in just a few years’ time. The primary goal of a digital euro is meet the domestic needs of the euro area. To some extent, however, this goal already includes a significant cross-border dimension. Let me explain what I mean by that. A quarter century on from the introduction of the euro, there is still no single pan-European solution for digital payments when people go shopping in stores or online. This means there is a risk that traditional cashless payment solutions offered by private European payment service providers will not match customer needs.

    To be fair, some euro area Member States have successfully implemented innovative digital solutions in the area of payments – I am thinking, for example, of the online payment system iDEAL in the Netherlands or Bizum Wallet in Spain. However, such payment solutions by themselves usually only function within national borders. Promising initiatives have been underway in recent years to widen the scope of these solutions. For example, iDEAL was successfully acquired by the European Payments Initiative, a company founded by several European banks and financial services companies. This initiative seeks to create a truly pan-European payment solution in the near to medium term. 

    This shows that the European payments sector has made meaningful progress; however, there are challenges further ahead. International payment providers, particularly those offering credit card schemes, still heavily dominate the European market for payment services – and even more when it comes to payments abroad.

    A digital euro would be a major step forward in this context. It would provide a standardised digital means of payment for day-to-day transactions throughout the euro area. Despite the need for a more integrated payment system, we are determined to prevent the Eurosystem’s footprint in the European financial system from becoming too large. We are therefore planning to issue a digital euro, but not to distribute it. This means that banks and other payment providers should assume the role of the CBDC interface between the Eurosystem and the customers.

    The euro area currently consists of 20 Member States, each of which has its own banking system with its own unique features. Against this background, I am sure you can imagine the overall complexity of our task. Therefore, our current focus is on making the digital euro accessible for all users within the euro area. We are investing great effort in our work on this, and we are constantly explaining what we do and why we do it, not least because a number of people are sceptical of CBDCs. 

    Once we have accomplished a digital euro for all users within the euro area, it will, in my view, be worth considering making it accessible to users outside the euro area as well. Rules for geographical access to a digital euro will be set down in legislation. If European legislation allows, access to a digital euro can also be granted to consumers and firms in the Member States of the European Economic Area outside the euro area. Selected non-EU countries can be included as well.7

    Ideally, the D€ would be interoperable with other CBDCs from the very start, for example, for person-to-person payments or commercial payments from or to firms outside the euro area. However, this is currently a vision for the future, since, as already mentioned, we first have to overcome numerous challenges to establish a retail digital euro that works within the euro area.

    4 Concluding remarks

    Let me conclude. So far, CBDCs are newcomers to the world of payment systems. We can only estimate how large a role they will end up playing in payment transactions. This is all the more true when it comes to cross-border payments.

    The scepticism about CBDCs in many quarters is not uncommon for many technological innovations. For example, in the early 1980s, “computerphobia” was a widespread phenomenon.8 This took a wide range of forms, even fear of physically touching a computer or feeling threatened by those who worked with them. Today, this may seem very strange to us. Computers have since become an essential day-to-day tool for us.

    And so we will continue our efforts to implement CBDCs. I am confident that this will ultimately make our payment systems better, faster and more efficient.

    MIL OSI Economics –

  • MIL-OSI Canada: Housing Design Catalogue: Federal government provides update

    Source: Government of Canada News (2)

    Today, the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, provided an update on progress to date for the Housing Design Catalogue. This new initiative under Canada’s Housing Plan will provide standardized designs and reduce the time required for design, approvals, and construction of new housing.

    Ottawa, Ontario, October 14, 2024 — Today, the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, provided an update on progress to date for the Housing Design Catalogue. This new initiative under Canada’s Housing Plan will provide standardized designs and reduce the time required for design, approvals, and construction of new housing.

    Minister Fraser announced that the first iteration of the catalogue will be launched in December and include up to 50 conceptual designs commissioned by the federal government through a Request for Proposals (RFP) process. These designs will include row housing, fourplexes, sixplexes, and accessory dwelling units that builders will be able to use to simplify and speed up the delivery of housing across the country.

    The successful proponents of the RFP process, who will create the low-rise designs, are:

    • MGA | Michael Green Architecture, who will deliver designs covering the British Columbia region; and, 
    • LGA Architectural Partners Ltd., who will work with five other teams of regional experts to deliver designs covering the regions of Alberta, the Prairies, Ontario, Quebec, the Atlantic, and the North.

    In the first iteration of the catalogue, the government will also look to include designs selected through an open submission process, launched today. The Prefabricated Housing Industry Design Submission is inviting industry members to submit existing prefabricated housing designs. It is also seeking information on the current products, capabilities, and technologies in the industry – as well as the role of prefabricated and other innovative homebuilding techniques in speeding up the pace of construction – to support the federal government’s work in tackling the housing crisis.

    Companies building modular, panelized, and 3D printed houses have until November 6, 2024, to respond to the submission.

    In November, the federal government will also launch a competition to source innovative designs for mid-rise buildings that will help inform the next iteration of the catalogue.

    The federal government is working with provinces, territories, and municipalities to expedite approvals for standardized designs. Accessing federal dollars under the Canada Housing Infrastructure Fund is also conditional on provinces and territories collaborating with the federal government to adopt designs from the Housing Design Catalogue.

    To create additional efficiencies, the federal government is also integrating other programs and initiatives with the Housing Design Catalogue. 

    • Budget 2024 provided $11.6 million in 2024-25 to support the development of the Housing Design Catalogue for up to 50 designs to simplify and accelerate housing approvals and builds.

    • In January 2024, the Government of Canada began targeted engagements with key stakeholders, partners, and experts to inform the types of designs, features, and amenities in the Housing Design Catalogue. 

    • In July 2024, the government launched a Request for Proposals (RFP) process to seek design services for the development of low-rise designs as part of the Housing Design Catalogue. The RFP closed on August 7, 2024.

    • Based in Vancouver and Victoria, British Columbia, MGA | Michael Green Architecture designs and builds innovative and sustainable projects in Canada and around the world.

    • LGA Architectural Partners Ltd. is a Toronto-based team of architects, building scientists, and technologists who has focused extensively on accessory dwelling units and various types and scales of multi-unit residential housing.

      • LGA Architectural Partners Ltd. will be working with five other teams of regional experts to ensure a national approach to the catalogue that reflects the needs of each region: Dub Architects (Alberta), 5468796 Architecture (Prairies), KANVA (Quebec), Abbott Brown Architects (Atlantic), and Taylor Architecture Group (North). LGA Architectural Partners will be covering Ontario.

    • The Prefabricated Housing Industry Design Submission will also support an Industrial Strategy for Homebuilding that will help further expedite homebuilding, provide additional ideas on how homes can be built, and bring down housing costs for Canadians. 

    • As part of the first iteration of the catalogue, conceptual designs will be available in December 2024 and include floor plans, illustrative drawings, and basic information about each of the proposed designs. This will be followed by permit-ready design packages in early 2025, which will include all the necessary drawings, specifications, and documents for how each design will be constructed and perform. The packages will also include detailed construction cost estimates. Regional packages will be fully compliant with building code requirements.

    Sofia Ouslis
    Communications Advisor
    Office of the Minister of Housing, Infrastructure and Communities
    sofia.ouslis@infc.gc.ca

    MIL OSI Canada News –

  • MIL-OSI Russia: A classroom equipped by Novard Group of Companies opened at the State University of Management

    MILES AXLE Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    On October 14, 2024, the State University of Management opened a new auditorium equipped by the university’s industrial partner, the Novard Group of Companies.

    The opening was attended by the rector of the State University of Management Vladimir Stroyev, vice-rectors Dmitry Bryukhanov, Vitaly Lapshenkov and Artem Terpugov, director of the Institute of Marketing Gennady Azoyev, head of the advertising and public relations department Vasily Starostin, as well as the management of the Novard Group of Companies, graduates of the State University of Management: president Andrey Iliopulo, vice-presidents Sergey Sarkisov and Vadim Kirillov.

    Auditorium A-535 will primarily be used for master’s students, international students, and anyone wishing to attend classes with renowned guest lecturers. It is equipped with a teacher’s computer, a stationary microphone and a mobile headset, three screens, and a camera with speaker tracking.

    Rector of GUU Vladimir Stroyev thanked the management of “Novard” for their assistance in equipping the auditorium and active participation in the life of the university, including the activities of the Association of GUU Graduates. Vladimir Vitalyevich noted that it was at GUU that the first department of entrepreneurship in Russia was opened, and following traditions and honoring history is one of the most important trends in modern domestic education.

    The President of the State Institution “Novard” Andrey Iliopulo said that the photographs with quotes from famous entrepreneurs of the 19th century, reproductions of which decorate the walls of the office, were taken from the Museum of Entrepreneurs, Patrons and Philanthropists, together with which “Novard” holds a thematic competition for students and schoolchildren. Andrey Andreyevich noted that for domestic entrepreneurship, it was initially important not only to enrich, but also to care about honor and dignity, therefore, studying the activities of patrons of the past is useful for the educational process.

    Director of the Marketing Institute Gennady Azoyev thanked the management of the Novard Group of Companies and the rector’s office of the State University of Management for their comprehensive assistance and support in the development of the Marketing Institute. Gennady Lazarevich expressed the opinion that the active participation of Novard in the life of the university should serve as a good example for other successful graduates of the State University of Management. He also noted that this year the anniversary is celebrated by the State University of Management, Novard, the Marketing Institute, and the Marketing Department.

    On the occasion, the IM employees demonstrated to the audience another new classroom next door – a computer lab for design and advertising classes.

    The Novard Group of Companies was founded in 1989 in Moscow by students of the State University of Management. It is represented by the fashionable footwear and accessories chain EKONIKA, the full-cycle developer City21, the commercial real estate management company Novard Estate Management Limited and one of the leading suppliers of industrial and construction equipment in the Russian Federation – Rutektor. Novard sees its mission as the development and promotion of a model of successful creative entrepreneurship that combines the best Russian traditions and modern business practices.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/14/2024

    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://guu.ru/auditorium-equipped-opened/

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Former Lord Mayor Keiran Mulhall

    Source: City of Coventry

    Tributes have been paid to a former Coventry Lord Mayor and councillor who died at the weekend.

    Keiran Mulhall served as a councillor for Radford ward between 1998 and 2018, and as Lord Mayor in 2011.

    He was made an Honorary Alderman in 2018.
     

    Leader of the Council, Cllr George Duggins, said: “Keiran played a full part in the life of the city and laid a wreath in the Memorial Park on behalf of the Royal Army Medical Corps as recently as November last year.

    “He was a dedicated and caring councillor and loved his city. I shall miss Keiran as a friend, as I know many of us on the Council will.”

    Lord Mayor Cllr Mal Mutton, who served with Keiran as a fellow Radford councillor, said: “I know that being named Lord Mayor of his city was a great honour for him and he was so proud.

    “He was a brilliant ward councillor who cared deeply for the city, for Radford and for its people. He will be truly missed, and I have lost a really dear friend. Our thoughts are with his loved ones.”

    Cllr Gary Ridley, Leader of the Opposition Conservative Group, added: ““Keiran was a real servant of the people, and he contributed fully to civic life over many years in a number of different roles.

    “He was also great company, and I enjoyed spending time with him on many occasions. I’ll particularly remember his wit and sense of humour.”

    Keiran was married to Norma who died during his year as Lord Mayor. He was born in the city and spent almost his whole life in Wyken and worked at Daimler Motor Company for 40 years.

    He joined Daimler when he was 15 and spent his entire working life with the company – except for a short gap in the 1950s when he travelled to Germany and Belgium with the Royal Army Medical Corps as part of his National Service.

    Details of the funeral have yet to be announced.

    Monday, 14th October 2024

    MIL OSI United Kingdom –

  • MIL-OSI: Registration of share capital increase in IDEX Biometrics 14 Oct 2024

    Source: GlobeNewswire (MIL-OSI)

    Reference is made to the notice on 9 October 2024 regarding issue of Tranche 2 shares and the warrants of the private placement completed on 16 September 2024. The private placement consisted of two tranches, with total gross proceeds amounting to NOK 70 million.

    The share capital increase related to the Tranche 2 shares has been registered and the shares will be delivered soonest. The Tranche 2 shares will be delivered on a separate and non-tradable ISIN, pending publication by the Company of a prospectus approved by the Norwegian Financial Supervisory Authority.

    Following the issue, the Company’s share capital will be NOK 120,812,483.10 divided into 805,416,554 shares, each with a nominal value of NOK 0.15.

    For further information contact:
    Marianne Bøe, Investor Relations
    E-mail: marianne.boe@idexbiometrics.com
    Tel: +47 918 00186

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. 

    For more information, visit http://www.idexbiometrics.com

    About this notice
    This notice was issued by Erling Svela, Vice president of finance, on 14 October 2024 at 18:10 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to section 5‑8 of the Norwegian Securities Trading Act (STA) and released in accordance with section 5‑12 of the STA.

    The MIL Network –

  • MIL-OSI: AGBA TAKES FINAL STEP TOWARD COMPLETION OF TRILLER MERGER

    Source: GlobeNewswire (MIL-OSI)

    The previously announced reverse stock split to comply with Nasdaq’s rules in connection with the merger will take effect on October 15, 2024.

    NEW YORK, NY / LOS ANGELES, CA , Oct. 14, 2024 (GLOBE NEWSWIRE) —  AGBA Group Holding Limited (Nasdaq: AGBA) (“AGBA” or the “Company”) and Triller Corp. (“Triller”) today announced that Nasdaq approval for their merger was received on October 11, 2024. The merger is now expected to be completed on October 15, 2024.

    This merger represents the next step in AGBA and Triller’s collective strategic visions in the digital economy. The combination of AGBA and Triller will accelerate innovation, clear a path towards rapid growth and expand the combined company’s market presence globally, creating unparalleled value for all stakeholders of the company.

    The 1-for-4 reverse stock split is implemented in order to remain in compliance with Nasdaq’s rules in connection with the merger with Triller Corp. (“Triller”). The combined company’s shares will commence trading on a split-adjusted basis on October 16, 2024.

    About AGBA   

    Established in 1993, AGBA Group Holding Limited (Nasdaq: “AGBA”) is a leading, multi-channel business platform that incorporates cutting edge machine-learning and offers a broad set of financial services and healthcare products to consumers through a tech-led ecosystem, enabling clients to unlock the choices that best suit their needs. Trusted by over 400,000 individual and corporate customers, the Group is organized into four market-leading businesses: Platform Business, Distribution Business, Healthcare Business, and Fintech Business.

    For more information, please visit http://www.agba.com.

    About Triller Corp.     
    Triller Corp. is a next generation, AI-powered, social media and live-streaming event platform for creators. Pairing music culture with sports, fashion, entertainment, and influencers through a 360-degree view of content and technology, Triller Corp. uses proprietary AI technology to push and track content virally to affiliated and non-affiliated sites and networks, enabling them to reach millions of additional users. Triller Corp. additionally owns Triller Sports, Bare-Knuckle Fighting Championship (BKFC); Amplify.ai, a leading machine-learning, AI platform; and TrillerTV, a premier global PPV, AVOD, and SVOD streaming service.

    For more information, visit http://www.triller.co.

    Investor Relations:     
    Bethany Lai
    ir@agba.com

    Safe Harbor Statement
    This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the closing of the merger; the expected date of the merger; the market effective date of the Company’s actions; the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the outcome of any legal proceedings that may be instituted against us following the consummation of the business combination; expectations regarding its strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and its ability to invest in growth initiatives and pursue acquisition opportunities; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Hong Kong and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC, the length and severity of the recent coronavirus outbreak, including its impacts across its business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at http://www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

    # # #

    The MIL Network –

  • MIL-OSI: RUBIS: Transactions carried out within the framework of the share buyback programme (excluding transactions within the liquidity agreement) – 7 to 11 october 2024

    Source: GlobeNewswire (MIL-OSI)

    Paris, 14 October 2024, 06:00pm

    Issuer Name: Rubis (LEI: 969500MGFIKUGLTC9742)
    Category of securities: Ordinary shares (ISIN: FR0013269123)
    Period: From 7 to 11 October 2024

    In accordance with the authorisation granted by the Ordinary Shareholders’ Meeting held on 11 June 2024 to implement a share buyback programme, the Company operated, between 7 and 11 October 2024, the purchases of its own shares in view of their cancelation presented below.

    Aggregate presentation per day and per market

    Name of issuer Identification
    code of issuer
    (Legal Entity Identifier)    		 Day of transaction Identification code of financial instrument Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
    RUBIS 969500MGFIKUGLTC9742 07/10/2024 FR0013269123 2,139 25.7405 AQEU
    RUBIS 969500MGFIKUGLTC9742 07/10/2024 FR0013269123 8,899 25.7427 CEUX
    RUBIS 969500MGFIKUGLTC9742 07/10/2024 FR0013269123 1,684 25.6253 TQEX
    RUBIS 969500MGFIKUGLTC9742 07/10/2024 FR0013269123 26,278 25.7109 XPAR
    RUBIS 969500MGFIKUGLTC9742 08/10/2024 FR0013269123 2,180 25.4284 AQEU
    RUBIS 969500MGFIKUGLTC9742 08/10/2024 FR0013269123 4,993 25.5350 CEUX
    RUBIS 969500MGFIKUGLTC9742 08/10/2024 FR0013269123 1,051 25.5351 TQEX
    RUBIS 969500MGFIKUGLTC9742 08/10/2024 FR0013269123 48,276 25.5142 XPAR
    RUBIS 969500MGFIKUGLTC9742 09/10/2024 FR0013269123 1,905 25.1645 AQEU
    RUBIS 969500MGFIKUGLTC9742 09/10/2024 FR0013269123 14,955 25.1057 CEUX
    RUBIS 969500MGFIKUGLTC9742 09/10/2024 FR0013269123 1,127 25.1368 TQEX
    RUBIS 969500MGFIKUGLTC9742 09/10/2024 FR0013269123 39,013 25.1636 XPAR
    RUBIS 969500MGFIKUGLTC9742 10/10/2024 FR0013269123 2,199 25.1777 AQEU
    RUBIS 969500MGFIKUGLTC9742 10/10/2024 FR0013269123 11,084 25.1848 CEUX
    RUBIS 969500MGFIKUGLTC9742 10/10/2024 FR0013269123 1,556 25.1570 TQEX
    RUBIS 969500MGFIKUGLTC9742 10/10/2024 FR0013269123 33,681 25.1718 XPAR
    RUBIS 969500MGFIKUGLTC9742 11/10/2024 FR0013269123 18,467 25.2196 CEUX
    RUBIS 969500MGFIKUGLTC9742 11/10/2024 FR0013269123 237 25.2755 TQEX
    RUBIS 969500MGFIKUGLTC9742 11/10/2024 FR0013269123 25,931 25.2114 XPAR
    * Four-digit rounding after the decimal TOTAL 245,655 25.3396  

    Detailed presentation per transaction

    Detailed information on the transactions carried out from 7 to 11 October 2024 is available on the Company’s website (http://www.rubis.fr) in the section “Investors – Regulated information – Share buyback programme”.

      Contact
      RUBIS – Legal Department
      Tel. : + 33 (0)1 44 17 95 95

    Attachment

    The MIL Network –

  • MIL-OSI: Customer experience still an untapped opportunity to drive sales growth for auto brands and mobility providers

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Florence Lièvre
    Tel.: +33 1 47 54 50 71
    Email: florence.lievre@capgemini.com

    Customer experience still an untapped opportunity to drive sales growth for auto brands and mobility providers

    • Three quarters (76%) of vehicle/mobility services customers expect the same hassle-free end-to-end experience offered by other industries
    • However, most organizations (73%) are over-indexing on the importance of reputation in customer experience instead of prioritizing digital experiences and post-purchase services
    • Nearly half of consumers (48%) are likely to shift to mobility subscription-based services over vehicle ownership given the flexibility these services offer

    Paris, October 14, 2024 – The Capgemini Research Institute’s latest report titled ‘Joining the race: Automotive’s drive to catch up with customer experience’, published today, reveals a significant gap between how automotive business leaders and consumers perceive the quality of their customer experience (CX). In today’s competitive landscape, customer expectations are shaped by exceptional service standards across various industries, yet the survey shows that automotive CX frequently falls below par, ranking 9thout of 13 major consumer-facing industries. In comparison, mobility-as-a-service is overall ranked higher by customers, but with a significant variation depending on the country.

    According to the report, the Net Promoter Score (NPS®)1 for vehicle brands shows a notable gap between customer and organizations’ perceptions of CX. Whilst executives surveyed estimate this score at 14, consumers score automotive brands an average NPS rating of 2, lower than any other consumer-facing industry.

    Perception gaps in brand reputation, ease of use and access, and emotional connection
    While 73% of vehicle brands or mobility providers consider brand reputation as the top factor in the buying decision, only 48% of consumers surveyed do. In addition, emotional connection with the brand is also considered as an important factor by consumers (41%) compared to only 24% of organizations surveyed.

    Ease of use and accessibility emerge as a top priority that influence the large majority (76%) of consumer decisions to opt for or stay with a vehicle brand or mobility service, whereas only 51% of organizations consider it as a priority: consumers surveyed expect seamless and hassle-free functionality across apps, dashboard screens, battery charging, and insurance claims (77%), best-in-class digital experience (59%), and eco-friendly options (51%).

    According to the report, only 29% of automotive brands and mobility services customers rate consistent experiences across channels as extremely good or good. The vast majority (90%) report dissatisfaction with the integrated services – pre-purchase to aftersales – provided to them, for instance, the availability of a single app for all vehicle or transport needs.

    Seven in ten organizations consider CX as a C-level priority, with opportunities to be seized in digital experiences and post-purchase services
    Fewer than one in five (17%) organizations surveyed involve IT or digital teams in CX initiatives while three-quarters of customers are feeling dissatisfied with digital experiences.

    In 41% of organizations surveyed, CX is limited to a few functional areas, such as sales, customer service and support. Only one-third (27%) involve marketing and communications, in contrast to research and development for nearly half of them (49%).

    Overall, the report highlights that CX initiatives are disproportionately focused on the pre-purchase and purchase phases in contrast with the post-purchase stages of the customer journey, like servicing and maintenance and end of life of vehicle, including reselling, renewing subscriptions, and refurbishing. 57% of consumers surveyed who are planning to switch brands within 6-18 months express dissatisfaction with their post-purchase service and maintenance experience.

    “Amid constant industry change, focusing on customer interactions is essential. But, when it comes to delivering a consistent customer experience ‘one size does not fit all’,” said Laurence Noël, Head of Global Automotive Industry at Capgemini. “Mobility consumers demand the same level of experience than the one offered by other sectors that is hassle-free, digitalized, and sustainable. A cultural shift is underway, notably among Gen Z, millennials, and Gen X consumers in Europe from vehicle ownership to on-demand access to transportation. Automotive organizations should seize the opportunity offered by CX-enhancing digital solutions to create true end-to-end customer journeys focusing the full lifecycle, beyond pre-sales/sales offerings, that include maintenance, software updates, and personalized services. In this fast-changing highly competitive market, a full-mobility experience across the customer journey until the end-life of the vehicle, can be seen as a top priority for brands to differentiate themselves.”

    Report Methodology
    The Capgemini Research Institute surveyed 600 senior executives from large automotive OEMs (including passenger cars, two- and three-wheelers, trucks, and buses), fleet service organizations, dealers, aftersales organizations, and Mobility-as-a-Service (MaaS) providers (e.g., car rental, taxi, and ridesharing providers). The surveyed automotive passenger-car OEMs and dealers each have an annual revenue exceeding $1 billion, while the OEMs producing two- and three-wheelers, trucks, and buses, as well as the fleet service and aftersales organizations, and MaaS providers each have annual revenue over $300 million. These executives are based in 10 countries across North America, Europe, and Asia-Pacific. The global survey took place in August 2024.
    The research also included a global survey of 10,000 consumers over the age of 18 across 11 countries. To complement the survey findings, the Institute also conducted in-depth discussions with 32 CX experts from automotive and MaaS organizations, as well as from other consumer-facing industries, such as hospitality and hotels, consumer products and retail, luxury goods and retail, consumer electronics, airlines and transport, and banking and insurance.

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

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was recently ranked #1 in the world for the quality of its research by independent analysts.
    Visit us at https://www.capgemini.com/researchinstitute/

    1 Net Promoter Score (NPS®) is a metric used to measure customer loyalty and satisfaction with a company’s products or services.

    Attachments

    The MIL Network –

  • MIL-OSI United Kingdom: Record-breaking International Investment Summit secures £63 billion and nearly 38,000 jobs for the UK

    Source: United Kingdom – Executive Government & Departments

    Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit.

    • Total of £63 billion of private investment committed around International Investment Summit, more than doubling amount secured at 2023 Global Investment Summit
    • New investments today include £6.3 billion in UK data centres as well as world class UK university Imperial College London
    • Innovative investment projects announced over the last month across infrastructure, renewables and life sciences will create close to 38,000 new jobs across the UK

    Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit, turbocharging growth and innovation across the country. 

    The record-breaking total figure more than doubles the £29.5 billion committed at last year’s Global Investment Summit and spans partnerships across the infrastructure and tech sectors, including over a billion pounds in new investments announced today by DP World, Associated British Ports (ABP) and Imperial College London. 

    Through serious, stable governance, the UK is attracting tens of billions of pounds of new investment which is crucial to the government’s driving mission of delivering economic growth. Today’s historic figure demonstrates that businesses have confidence in Britain as a place to invest. 

    The investments follow immediate action taken by the new government to reform planning, focus on AI and data centre expansion, and set a clear commitment to net zero by almost doubling the funding for renewable energy projects. 

    Four major tech firms based in the US have today announced £6.3 billion in UK data centres which is critical to enhancing the UK’s AI capacity – in turn fuelling Britain’s economic growth and spurring on AI development. Data centres store the vast amount of information and data needed to power AI, and store the information generated by AI to keep the systems running. 

    ABP, the UK’s largest port operator, has committed over £200 million to a joint investment with ferry company Stena Line in a new freight ferry terminal at the Port of Immingham, significantly boosting the capacity and resilience of UK trade with Europe. It is expected to create around 700 jobs during construction and around 200 permanent jobs once operational. 

    Leading UK university Imperial College London is also today announcing a £150 million investment to secure a new R&D campus to add to its rapidly expanding deep tech ecosystem in West London. The new campus will expand scale-up capacity in the WestTech Corridor, supporting the UK’s innovation sector and driving investment, economic growth and job creation. 

    Business and Trade Secretary Jonathan Reynolds said:

    Global investors should be in no doubt that under this new government Britain is truly the best place to do business. The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.

    We’re determined to deliver economic growth in every part of the UK and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future.

    Chancellor of the Exchequer Rachel Reeves said:

    After the investments secured as part of this summit, my optimism for Britain burns brighter than ever. It’s a sign of the confidence in the British economy. And it matters because it will support the growth of businesses big and small across the U.K. Helping them create new jobs and making people better off.

    CEO of ABP Henrik L. Pedersen said:

    We are delighted that the Development Consent Order (DCO) for the Immingham Eastern Ro-Ro Terminal (IERRT) has been granted in a timely way by the Secretary of State to allow us to move forward with investment. The IERRT project is a key component of our strategy to strengthen the UK’s supply chains and improve trade connectivity, whilst also bringing substantial economic benefits including the creation of hundreds of jobs during construction and ongoing operations. IERRT forms part of the intended £5.5bn pipeline of UK investment we have in front of us over the next 10 years and we look forward to working closely with the Government to deliver the right conditions to realise this investment.

    President of Imperial College London Hugh Brady said:

    Imperial College London is investing in its ambitious vision for a new globally competitive deep tech innovation ecosystem in West London. The Imperial WestTech Corridor will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level supported by the Government’s emerging Industrial Strategy.

    Please see below for a list of all the investments announced in the run-up to and during today’s International Investment Summit:

    • Iberdrola doubling their investment in the UK, through Scottish Power, from £12 billion to £24 billion over the next 4 years. This includes £4 billion for the East Anglia 2 wind farm off the Suffolk coast which was unlocked by this Government’s expanded allocation at the most recent wind auction round. Iberdrola Executive Chairman Ignacio Galan CBE confirmed on Friday that the UK has become their largest Investment destination. 

    • Blackstone confirmed a £10 billion investment in Blyth, Northumberland to create one of the largest artificial data centres in Europe, creating 4,000 jobs, including 1,200 roles dedicated to the construction of the site. 

    • Amazon Web Services announced an £8 billion investment last month which is estimated to support around 14,000 jobs per year at local businesses, including those across the company’s data centre supply chain such as construction, facility, maintenance, engineering and telecommunications. 

    • CCUS investors (including Eni, BP and Equinor) reached a commercial agreement with the government that will unlock £8 billion of private investment to launch carbon capture clusters in the heartlands of the North West and North East of England, directly creating 4,000 jobs and supporting 50,000 jobs in the long-term. 

    • Orsted and Greenvolt confirming that the Government’s recent expanded offshore wind auction means their projects will unlock £8 billion (Orsted) and £2.5 billion (Greenvolt) of investment respectively in their planned offshore wind farms. Orsted says its commitment will see thousands of jobs for local people, while Greenvolt says it will create up to 2800 construction jobs.  

    • CyrusOne, a leading global data centre developer headquartered in the United States, announced plans to expand their investment into the UK to £2.5 billion over the coming years. Subject to planning permission, the two data centres should be operational by Q4 2028, projected to create over 1,000 jobs both directly and within its immediate design and construction value chain.   

    • Octopus Energy have committed to a £2 billion investment in renewable energy generation, including four new solar farms in Bristol, Essex, East Riding of Yorkshire and Wiltshire that will power up to 80,000 homes as well as breaking ground on a new 12 MW battery in Cheshire which Octopus say will store enough power for nearly 10,000 homes every day. 

    • SeAH Wind has made an additional £225 million investment into wind technology manufacturing in Teesside, thanks to new backing from UK Export Finance, and expects to create 750 direct jobs by 2027. This brings their total investment into the site at Teesworks up to £900 million and will help them make their ongoing factory build – one of the biggest facilities of its kind worldwide – even bigger. 

    • CloudHQ is developing its new state-of-the-art £1.9 billion data centre campus in Didcot. The hyper-scale data centre is currently in development and will help meet the UK’s growing demand for AI and machine learning. It will create 1,500 jobs during construction, and 100 permanent jobs once fully operational.  

    • Macquarie supporting investment of £1.3 billion into new green infrastructure including its Island Green Power solar farm in Stow, as a result of planning consents having been granted by the Government, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network. 

    • ServiceNow also confirmed its commitment to the UK market, with plans to invest £1.15 billion into its UK business over the next five years. The investment will not only support the future development of AI in the UK, expanding its data centres with Nvidia GPUs for local processing data, but also support new office space as the company significantly grows into employee base beyond its current headcount of 1,000 employees.  

    • Manchester Airports Group is investing more than £1.1 billion in London Stansted Airport to expand its existing terminal by around a third, help secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs. This includes around £600 million to extend the terminal and £500 million to deliver a suite of improvements to the existing terminal building and wider airport estate. 

    • Eren Holdings confirmed a £1 billion investment in the redevelopment of Shotton Mill in Deeside, North Wales which is set to become the UK’s largest recycled paper manufacturing campus. This is expected to safeguard 147 jobs and create a further 220 when the site is fully commissioned. 

    • Network Rail and London & Continental Railways are creating a new property company which will attract additional private and public sector investment with the potential to deliver brownfield regeneration schemes across the rail estate with a value exceeding £1 billion. 

    • CoreWeave is building on its £1 billion investment announced in May and the opening of its European headquarters in London by investing a further £750 million-plus in the UK to support the demand for critical AI infrastructure. The investment in the UK is CoreWeave’s second largest investment in a country following the USA.  

    • DP World are investing up to £1 billion in their London Gateway container port operation. This new investment will fund two additional berths and a second rail terminal. Once built, the berths will add vital transport capacity and increase the resilience of UK supply chains, enabling businesses to access domestic and international markets and supporting the Government’s growth and decarbonisation missions. 

    • Holtec, a major US advanced nuclear engineering company, has confirmed a significant investment of £325 million in a new factory in South Yorkshire which will supply materials for civil and defence nuclear industries. They say this will create up to 490 direct and 280 indirect jobs annually during the construction phase and 1,200 direct engineering jobs created over 20 years. 

    • BW Group proceeding with a £500 million investment, which includes new battery energy storage projects in Hampshire and Birmingham. 

    • Eli Lilly and Company is collaborating with government through a memorandum of understanding which will see the pharmaceutical giant intending to commit £279 million to tackle significant health challenges – including obesity. Lilly also plans to launch the first ‘Lilly Gateway Labs’ innovation accelerator in Europe to support early-stage life sciences businesses to develop transformative medicines and technologies. 

    • Associated British Ports (ABP), the UK’s largest port operator, has announced a £200+ million investment in a new freight ferry terminal at the Port of Immingham, boosting the capacity and resilience of UK trade with Europe. This is expected to create around 700 jobs during construction and 200 permanent jobs once operational. 

    • Imperial College London investing £150 million to build The WestTech Corridor – a new innovation ecosystem in West London which will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level. 

    • Haleon has received planning permission to develop a new £130 million Global Oral Health Innovation Centre in Weybridge, Surrey. This state-of-the-art facility will primarily support Haleon’s global oral health business by developing new products that advance consumers’ better everyday health. 

    Background 

    • The International Investment Summit is being sponsored by Barclays, HSBC, Lloyds, M&G plc, Octopus Energy, and TSL.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: United States Mint Begins Shipping 2024 American Women Quarters™ Honoring Zitkala-Ša on October 21

    Source: United States Mint

    WASHINGTON – The United States Mint (Mint) will begin shipping the fifth coin in the 2024 American Women Quarters (AWQ) Program honoring Zitkala-Ša on October 21. The Mint facilities at Philadelphia and Denver manufacture these circulating quarters.

    Zitkala-Ša (meaning “Red Bird”), also known as Gertrude Simmons Bonnin, was a writer, composer, educator, and political activist for Native Americans’ right to United States citizenship and other civil rights they had long been denied. She left her South Dakota home on the Yankton reservation at age eight to attend a boarding school run by white missionaries, where her native culture and traditions were prohibited.

    “The fifth coin of the 2024 American Women Quarters Program celebrates the life and legacy of Zitkala-Ša,” said the Honorable Ventris C. Gibson, Director of the Mint. “Zitkala-Ša was a gifted musician and violinist and collaborated on what is considered the first known American Indian opera. Premiering in Utah in 1913, The Sun Dance Opera was centered on the Sun Dance, a sacred, ceremonial dance that was outlawed by the U.S. government at the time. Zitkala-Ša felt the opera would be a powerful way to share her values with diverse audiences. Her writings and advocacy continue to have an impact today.”

    The reverse (tails) depicts Zitkala-Ša in traditional Yankton Sioux dress. She is holding a book, which represents her work as an author as well as her successful activism for Native American rights. Behind her, a stylized sun represents her work on The Sun Dance Opera, while a cardinal symbolizes her name, which translates to “Red Bird.” A Yankton Sioux-inspired diamond pattern sits underneath the sun.

    Artist Infusion Program Designer Don Everhart designed the image, which Mint Medallic Artist Renata Gordon sculpted.

    “The design features the effigy of Zitkala-Ša wearing her tribal regalia—the beads and intricate leather straps with metal elements made for a beautiful and challenging subject,” said Gordon. “I stayed faithful to the design down to the most minute detail because much of the regalia is steeped in Native American symbolism and meaning. I loved participating in the legend that lives on, as my fellow engravers and I get to do with many of the subjects selected to be on U.S. coinage and medals.”

    Each coin in this series features a common obverse (heads) design depicting a portrait of George Washington. This design was originally composed and sculpted by Laura Gardin Fraser as a candidate entry for the 1932 quarter, which honored the bicentennial of George Washington’s birth. The inscriptions are “LIBERTY,” “IN GOD WE TRUST,” and “2024.”

    View images of the Zitkala-Ša quarter here.

    Each 2024 AWQ honoree is a powerful, inspiring example of the breadth, depth, and range of accomplishments, and the experiences demonstrated by these extraordinary women. Coins featuring additional honorees will continue to ship through 2025.

    Authorized by Public Law 116-330, the American Women Quarters Program features coins with reverse (tails) designs emblematic of the accomplishments and contributions of American women. Beginning in 2022 and continuing through 2025, the Mint is issuing five quarters in each of these years. The ethnically, racially, and geographically diverse group of individuals honored through this program reflects a wide range of accomplishments and fields, including suffrage, civil rights, abolition, government, humanities, science, space, and the arts.

    Please consult with your local financial institutions regarding the availability of AWQ Program quarters honoring Zitkala-Ša beginning in middle to late November.

    Numismatic Products
    This groundbreaking coin program is an excellent way to remind future generations what can be accomplished with vision, determination, and a desire to improve opportunities for all. Subscribe to the program today to ensure fulfillment of your favorite product through 2025.

    About the United States Mint
    Congress created the United States Mint in 1792, and the Mint became part of the Department of the Treasury in 1873. As the Nation’s sole manufacturer of legal tender coinage, the Mint is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; silver and bronze medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Meeting held on animal deaths

    Source: Hong Kong Information Services

    ​In view of the death of eight animals in Hong Kong Zoological & Botanical Gardens yesterday, Secretary for Culture, Sports & Tourism Kevin Yeung convened an urgent interdepartmental meeting today to hear reports on the latest situation by the Leisure & Cultural Services Department, the Agriculture, Fisheries & Conservation Department as well as the Department of Health.

    It was noted at the meeting that park staff had immediately stepped up monitoring of the conditions of all animals since yesterday. The movement response and appetite of a White-faced Saki and a De Brazza’s Monkey were found to be unusual and they were removed from the original animal cages for close monitoring. The White-faced Saki passed away this morning. The park will continue to observe the remaining De Brazza’s Monkey.

    The park’s Mammals Section was temporarily closed this morning to facilitate the close monitoring of the conditions of those animals, while the disinfection and cleaning of animal cages involved were completed.

    The health condition of all 80 animals in the park is normal. For the sake of prudence, staff working there will wear appropriate protective gear and keep a close watch on their health condition. At present, all staff are healthy.

    Additionally, different scenarios of case development and solutions were discussed at the meeting. Relevant government departments will speed up autopsy and toxicological testing, so that the possible causes of the incident could be known as soon as possible.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Have your say: Working age council tax support scheme consultation launches

    Source: City of Portsmouth

    Have your say on possible changes to Portsmouth’s Council Tax Support Scheme for working age residents from next year.

    No changes are being made to the council tax support scheme for pension-aged residents.

    A consultation running for eight weeks is now live until Monday 9 December. Complete the consultation online.

    Council Tax Support is a scheme to help some people pay their council tax. The amount of support people can get depends on their income and personal situation.

    The proposal being considered by Portsmouth City Council seeks to change the scheme to provide more financial help for those on the lowest incomes. The change would see many of the approximately 7,500 working-age people claiming council tax support in Portsmouth automatically receive an increase, without having to apply.

    Portsmouth’s Local Council Tax Support (LCTS) scheme, adopted in 2013, was and continues to be based upon a now outdated means-tested ‘benefit’ scheme. Due to central government funding cuts, everyone receiving support from the working age council tax support scheme is currently required to pay at least 20% of their council tax bill, including those on the lowest incomes.

    The consultation asks for people’s views on introducing a new banded scheme for working aged people from 1 April 2025. It would mean individuals and families would receive different levels of council tax support depending on which of the four proposed income bands they are in.

    The change would simplify the application process, increase LCTS take up, and reduce the current frequent reassessment of council tax bills to give most people greater financial stability.

    The change would see the council tax contribution from those on the lowest incomes reduce from 20% to 10%, helping to support those most in need with the cost of living. The discount would reduce for those with higher incomes.

    It’s estimated that just over 74% of working age claimants would either benefit or see no change under the new scheme.

    Leader Cllr Steve Pitt said:

    “It’s estimated that the government underfunds the council’s local council tax support scheme by over £4m per year and because of the strain on our finances, there’s no perfect option for changing our council tax support scheme where everyone benefits.

    “To do so would add additional financial burdens that the council is not in a position to meet. What we are considering is a change that would help by far the most people and crucially those on the very lowest incomes, at a time when there’s no respite from high living costs.

    “We know people may have differing views on these proposals and we want as many people as possible to share them with us by taking part in our consultation. No change will be made until we have carefully considered every opinion submitted to our survey.”

    Each year councils are required to review their council tax support schemes, and currently around 100 local authorities, nearly a third, operate banded schemes similar to the one Portsmouth is considering moving to.

    The proposal would have no impact on pension-age claimants of the scheme, which offers pensioners up to 100% towards their council tax bill.

    Cost of living support for Portsmouth residents

    Portsmouth Older Persons Energy Payment, one-off payment of either £200 or £300 launching soon for low-income pensioners who will miss out on the government’s Winter Fuel Payment. It’s open to pension-age Portsmouth households who receive either Housing Benefit or Council Tax Support but don’t receive Pension Credit. Find out more and complete a form for us to contact you when it opens: Portsmouth Older Persons Energy Payment – Portsmouth City Council

    Household Support Funding, the council is reviewing how it will allocate the latest round of Household Support Funding and will be announcing schemes and how to apply at Household support fund – Portsmouth City Council

    The Cost-of-living helpline and online information hub, for help around essential costs, health and wellbeing, jobs, money and housing, and hardship funding people can apply for. The helpline is open weekdays from 9am-5pm (closes 4.30pm Fridays) on 023 9284 1047, or visit: http://www.portsmouth.gov.uk/cost-of-living-hub

    Switched On Portsmouth, for help reducing energy bills, including referring to energy saving scheme and offering free advice. Call on 0800 260 5907 or visit http://www.switchedonportsmouth.co.uk

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Thanksgiving: Premier Smith

    Source: Government of Canada regional news

    “As the leaves fall and the temperature cools this Thanksgiving weekend, families across the province will be gathering to reconnect with loved ones.

    “This weekend I will be reflecting on all the amazing things our province has to offer. Ours is a province with an abundance of natural beauty – matched only by an abundance of opportunity.

    “We embrace freedom for everyone and we will always stand up for our right to be free and our right to pursue our dreams – whatever they may be.

    “Alberta is a place where communities are safe and welcoming, where neighbours are friends and we all look out for each other.

    “From my family to yours, I hope you have a safe and restful Thanksgiving weekend.”

    MIL OSI Canada News –

  • MIL-OSI Economics: Samsung Ushers in a New Era by Expanding Galaxy Ecosystem, Begins Pre-reserve for Galaxy Ring in India

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the commencement of pre-reserve for its highly anticipated Galaxy Ring in India. The Galaxy Ring, which fits comfortably on users’ fingers like a traditional ring, is equipped with cutting-edge Galaxy AI features and sensors to deliver a differentiated experience.
     
    The Galaxy Ring adorns a titanium finish for enhanced durability and comes with an IP68 rating for water and dust resistance. The Galaxy Ring is rated 10ATM as it is built to withstand water depths of up to 100 meters, performing seamlessly in all conditions.
     
    Customers can pre-reserve their Galaxy Ring by paying a token amount of INR 1999 on Samsung.com, select retail stores, Amazon.in and Flipkart.com.
     
    Customers who pre-reserve the Galaxy Ring during this period will receive a complimentary Wireless Charger Duo worth INR 4999 upon purchase.
     
    Ushering a new era in the wearable device portfolio, Galaxy Ring features technology that helps users understand their health and body mannerisms easily. Blending a sleek, timeless design with cutting-edge health tracking features, Galaxy Ring will be available in 9 different sizes, ranging from size 5 to size 13.
     
    Offering a compact, sophisticated solution for users seeking seamless connectivity and wellness monitoring, Samsung India will provide its customers the option to get a sizing kit to ensure best fit before purchasing Galaxy Ring.
     
    Weighing just 2.3 grams (for size 5) with a narrow 7.0 mm width, Galaxy Ring is ultra-lightweight and compact, designed for providing comfort, during both day and night wear. It offers up to 7 days of battery life, providing users with a long-lasting endurance best suited for busy lifestyles.
     
    Powered by Samsung’s innovative “Health AI,” Galaxy Ring will deliver personalized health experiences that track users’ energy levels, sleep stages, activity, heart rate, and stress levels. It allows users to set and forget, simplifying health tracking while providing personalized coaching and insights.
     
    Galaxy Ring also integrates effortlessly with other devices in the Galaxy ecosystem, enhancing the connected experience for users. Galaxy Ring further offers features like 24/7 health tracking in synergy with Galaxy smartwatches, gesture controls, and Smart Find for added convenience.

    MIL OSI Economics –