Source: Republic of South Africa (video statements-2)
National Lottery Commission briefs media to provide an update on grant funding mandate
Source: China State Council Information Office 3
The seventh edition of Egypt’s “Jump Like a Pharaoh” air sports festival kicked off on Tuesday, with about 200 skydivers from different countries participating in the three-day event.
The festival began as 100 skydivers jumped from C-130 aircraft provided by the Egyptian Armed Forces. They fashionably landed at the foot of the Pyramid of Khafre in Giza, near the capital Cairo.
“This edition witnessed the participation of many professional skydivers from around the world to enjoy the experience of flying over the pyramids,” said Youssef Medhat, a media officer with the organizer Skydive Egypt company.
He added that one of the event’s main objectives is to boost Egyptian tourism, in addition to promoting the sport of skydiving.
“The festival has already succeeded in promoting skydiving in Egypt, and we see this through the increasing number of Egyptians who wish to either participate in the festival or learn this wonderful sport,” Medhat said.
Chris Whitley, a professional skydiver from the United States, flew all the way from Virginia to Cairo to participate in the festival.
“This is my fifth time to jump over the pyramids … the experience is amazing,” Whitley said.
Source: Médecins Sans Frontières –
On 14 October, on the outskirts of Nampala in the Segou region of central Mali, a Médecins Sans Frontières (MSF) team and community health workers were violently attacked and robbed by armed men, along with civilians. The men who carried out the attack were conducting regular military operations in the area. Our team was providing care to the community when the incident took place.
This violence against civilians and humanitarian workers is unacceptable. MSF reiterates that all parties to the conflict must respect civilians, humanitarian staff, health facilities, and patients.
Following this incident, we had to take the difficult decision to temporarily suspend our medical activities in the Nampala area, depriving communities of essential care. Discussions are underway with all local, regional, and national stakeholders to ensure that such violence does not occur again. This would enable us to resume providing essential care to people as soon as possible, with complete safety for our teams.
MSF has been present in Nampala since 2022 and is currently the only international NGO active in the area. Our staff provide vital free medical care to communities on the outskirts, as well as to people displaced by the many military operations in the area. Years of conflict have led to high health needs in this region, and now the number of cases of malaria is rising, which can be fatal for children under five years old and pregnant women.
Source: GlobeNewswire (MIL-OSI)
VICTORIA, Seychelles, Oct. 30, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s leading crypto exchange and Web3 company, has listed Act I: The AI Prophecy (ACT) in its Innovation, AI, and Meme Zone, enhancing access to this cutting-edge AI-driven project. The listing is now live with trading available under the ACT/USDT pair, allowing users to engage with ACT through various market activities, including deposits, trading, and a unique airdrop promotion.
The promotional event, CandyBomb, offers Bitget users the chance to earn ACT through deposits and trading activity. A total of 1,388,888 ACT tokens have been allocated for this campaign, which runs from 29 October to 5 November 2024. Participants can join the CandyBomb page, where valid deposit and trading activity will automatically count toward the ACT airdrop, divided into net deposits and spot trading pools. The first 833,333 ACT will be distributed based on net deposits, while new spot traders will have exclusive access to the remaining 555,555 ACT, providing a significant incentive for both experienced and new traders alike.
As an innovative project, Act I: The AI Prophecy is reshaping the interaction paradigm within artificial intelligence, aiming to break away from traditional user-assistant interactions. Instead, ACT envisions an egalitarian digital space where both users and bots interact as equals, exploring more collaborative and integrated AI interactions. Built on the Solana blockchain, ACT provides a streamlined user experience with scalable infrastructure, inviting more extensive engagement in the rapidly expanding AI MEME ecosystem.
This listing positions ACT within Bitget’s expanding portfolio of AI and meme-focused projects, underlining the platform’s commitment to offering users access to the most forward-looking digital assets. As ACT gains traction in both centralized and decentralized trading venues, this listing on Bitget will allow a broader audience to participate in its ecosystem, aligned with the rising interest in AI-powered crypto assets. With a vibrant community and strong online engagement, ACT presents an opportunity for users interested in emerging AI trends in the blockchain space.
Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in popular and valuable projects, the platform is now one of the top 10 crypto spot trading platforms with over 800 coins and over 900 pairs, including tokens from ecosystems such as Ethereum, Solana, Base, and more recently TON.
For more information on ACT on Bitget Spot, please visit here.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, Bitget is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
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Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8bb88e9e-8f39-426a-bc37-f14cba8c75bb
Source: Government of Canada News
Michael Callan becomes High Commissioner in the Republic of Trinidad and Tobago. Mr. Callan replaces Arif Keshani.
Michael Callan (BA Hons [Political Studies], Queen’s University, 2000; MSc Econ [International Security], University of Wales, Aberystwyth, 2002). Prior to joining Global Affairs Canada, Michael Callan served in the Canadian Armed Forces and worked with the Aga Khan Foundation in Bangladesh and the Carnegie Endowment for International Peace in Moscow. Upon joining the Canadian International Development Agency in 2004, Mr. Callan took on assignments with the Humanitarian Assistance Division and the Afghanistan Task Force. Abroad, Mr. Callan was the Government of Canada’s first civilian deployed to Kandahar, Afghanistan, where he served as director, development, for Canada’s Provincial Reconstruction Team (2005 to 2006). His subsequent deployments included assignments as head of aid in Khartoum (2008 to 2010) and director, development, for the Middle East and North Africa in Cairo and Amman (2012 to 2016). He was then seconded to the Privy Council Office (2016 to 2017) before taking up a fellowship with the Weatherhead Center for International Affairs at Harvard University (2018). Mr. Callan served as director of conflict prevention, stabilization and peacebuilding (2019 to 2021) prior to his most recent assignment as ambassador to Algeria (2021 to 2024).
Source: Agenzia Fides – MIL OSI
Wednesday, 30 October 2024
Dar es Salaam (Agenzia Fides) – “They will not silence us, Tanzania belongs to all of us and we will fight for our right to be heard,” said opposition politician John Mnyika, referring to the current government led by Samia Suluhu Hassan, the country’s first female head of government.Tanzania is at a dangerous crossroads on the eve of the 2025 parliamentary elections. The electoral campaign is marked by political unrest. According to local press reports, last year’s political violence raised fears that the country could fall back into authoritarianism. Samia Suluhu Hassan, who took over the presidency after the death of John Magufuli (2015 March 2021) and once presented herself as a reformer, is now facing accusations of using the same repressive methods as her predecessor.With her appointment, the country had begun to raise hopes of a rebirth. Suluhu had, among other things, promised a new era of democratic reforms and in the meantime lifted the ban on political demonstrations and allowed the media to reopen, demonstrating her commitment to freedom of expression. For a brief moment, it seemed as if Tanzania was emerging from the shadow of autocracy. Opposition parties, long suppressed under Magufuli, were allowed to hold demonstrations again. Political debate resumed, and for the first time in years, the country seemed to be moving toward genuine democracy. But now, as local elections in November 2024 approach, those hopes are beginning to fade. Promises of government reforms have given way to a resurgence of authoritarian tactics. The optimism that had accompanied Samias Suluhu’s rise to power has gradually been replaced by fear and uncertainty. Political violence is on the rise, opposition leaders have been silenced, and dissent is once again brutally repressed.For many Tanzanians, the future looks bleak, local media report. The escalation of political violence has created an atmosphere of fear and uncertainty. And as the nation awaits the upcoming elections, one thing is clear: the stakes have never been higher. For opposition leaders like John Mnyika and Tundu Lissu, the fight for democracy has never been more dangerous. But despite the risks, they remain determined. (AP) (Agenzia Fides, 30/10/2024)
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Source: Agenzia Fides – MIL OSI
N’Djamena (Agenzia Fides) – Three days of national mourning in Chad in memory of the victims of the jihadist attack on a military base near Lake Chad were declared by Chadian President Mahamat Idriss Déby, who personally traveled to the site of the attack on October 28 and announced the start of a counter-offensive, called “Haskanite”, to find the perpetrators of the massacre.On the night of October 27-28, an armed group attacked the Chadian army garrison on the island of Barkaram, on the border with Nigeria. Of the 200 soldiers present, 40 were killed, including their commander. The attackers occupied the base until dawn and left with a large amount of weapons and ammunition. Chadian authorities claim that the attack was carried out by the Nigerian terrorist group Boko Haram, which has long experienced several splits, the most important of which led to the creation of ISWAP (Islamic State in West Africa Province). Following the death of Boko Haram’s historic leader Abubakar Shekau in 2021, who reportedly committed suicide to avoid falling into the hands of ISWAP’s rivals, the leadership was taken over by Bakura Modu. The group he led continues to lose fighters who join ISWAP and others who join the Nigerian army’s demobilization and reintegration program for jihadists and lay down their arms. If the Barkaram attack was indeed carried out by militiamen led by Bakura Modu, it is seen as an attempt by this militia to assert its leadership role and show the outside world that it is alive and capable of carrying out wide-ranging actions. The Chadian President, in turn, must show determination in the face of the challenge that faces him, as his predecessor Idriss Déby did after the massacre of about 100 soldiers in March 2020 at the Bohama base, also in the Lake Chad region, by Boko Haram (see Fides, 28/3/2020). The father of the current president had gone to the site of the massacre and launched Operation Wrath of Bohama to pursue the perpetrators. Chad is today the only country in the Sahel where Western troops, especially French and American, are stationed. The three countries where military juntas came to power through coups (Mali, Burkina Faso and Niger), grouped in the Alliance of Sahel States (AES), have expelled foreign military missions from their territories (except for the Italian contingent still stationed in Niger). All these countries are facing offensives by various jihadist groups. Chad is trying to maintain good relations both with the West and with countries such as Russia and China, as well as with its AES neighbors. Today it was announced that an important Chadian delegation is visiting Niger. (L.M.) (Agenzia Fides, 30/10/2024)
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Source: GlobeNewswire (MIL-OSI)
SINGAPORE, Oct. 30, 2024 (GLOBE NEWSWIRE) — FBS, a leading global broker, explores the essential role of cryptocurrencies in hyperinflated economies. In the recently published article, FBS experts analyze the benefits of digital currencies in countries like Venezuela, Argentina, Zimbabwe, Nigeria, and Brazil, where national currencies continue to suffer rapid devaluation.
As inflation surges in these regions, digital currencies are recognized for their potential to preserve wealth and facilitate transactions outside traditional banking systems. According to FBS analysts, cryptocurrencies offer a flexible, accessible solution, particularly for those facing restrictions on foreign exchange. The adoption of cryptocurrencies — particularly Bitcoin and stablecoins — has increased as individuals, businesses, and governments seek alternatives to maintain financial stability and autonomy.
FBS highlights how different economies leverage digital assets:
The FBS article underscores the transformative impact of cryptocurrencies on daily life and regional economies. It acknowledges, however, that while digital assets can provide temporary financial relief, they cannot resolve systemic issues alone. Sustainable economic recovery ultimately requires broad reforms, with cryptocurrencies serving as a critical tool in the meantime.
To read more about the role of digital assets in hyperinflated economies and how they are reshaping financial survival strategies, users can explore the full article here.
Disclaimer: This material does not constitute a call to trade, trading advice, or recommendation and is intended for informational purposes only.
About FBS
FBS is a licensed global broker with over 15 years of experience and more than 90 international awards. FBS is steadily developing as one of the market’s most trusted brokers, with its traders numbering more than 27,000,000 and its partners exceeding 700,000 around the globe. The annual trading volume of FBS clients is over $8.9 trillion.
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Source: United Nations – English
s you gather for the 2024 Global Education Meeting, you confront a critical global challenge.
Education is the key to unlocking opportunities, equality, prosperity and peace.
But for millions of people around the world, that door remains shut tight.
Seventy per cent of 10-year-olds are unable to understand a basic text, while 250 million children and young people are out of school altogether. This is worsened by a huge financing gap of $97 billion annually for education in low and middle income countries.
We don’t have a moment to lose. At the Transforming Education Summit in 2022, governments committed to ending the learning crisis, and boosting investment in quality education systems that can reach every learner, throughout their lives.
Your meeting is an opportunity to measure how governments are — and are not — living up to this commitment.
In particular, I welcome your focus on closing the financing gap for education through more effective resource mobilization and innovative financing initiatives. I call on governments to arrive at next year’s Conference on Financing for Development and the World Social Summit with concrete solutions that can deliver the education systems all people need and deserve.
Through the recently adopted Pact for the Future, governments committed to investing in accessible, safe, inclusive and equitable quality education for all.
The United Nations is proud to stand with you in this essential global effort.
***
Source: GlobeNewswire (MIL-OSI)
ATLANTA, Oct. 30, 2024 (GLOBE NEWSWIRE) — IntelliTrans, a global leader in multimodal transportation management solutions, has named Mayank Sharma as its new Chief Product Officer. In this role, Sharma will drive product strategy and direction, guiding the development and improvement of IntelliTrans’ product lineup to deliver smarter, simpler solutions for customers. With over 20 years of experience in product innovation and leading global teams, he brings forward-looking insights into the company’s growth and commitment to making complex logistics easier.
Sharma has a strong background in creating innovative products across different sectors. Most recently, he led the launch of a top-rated dash camera and safety solution at Teletrac Navman, which helped transportation customers improve safety and efficiency. He also worked on strategic partnerships to develop solutions for customers transitioning their truck fleets to cleaner energy options like electric, hydrogen, and CNG/RNG, supporting their shift towards sustainability.
“We are excited to welcome Mayank to the IntelliTrans team,” said Chad Raube, President and CEO of IntelliTrans. “His vast experience in product management and innovation will be instrumental as we continue to strengthen our product portfolio. Mayank’s unique approach to developing market-leading solutions, commercial focus, and fostering agile teams will help propel IntelliTrans forward in achieving our long-term goals.”
“I’m thrilled to join the IntelliTrans team and work on delivering high-value solutions that address the real-world challenges our clients face in their supply chains,” said Sharma. “I see a great opportunity to use emerging technologies to make our products smarter and more user-friendly, simplifying how our customers manage their operations. I look forward to enhancing the overall experience for IntelliTrans customers and driving innovation in our product suite.”
Sharma holds an MBA from the Kellogg School of Management and has multiple advanced degrees in Engineering, Design, and Anthropology. This diverse educational background gives him a well-rounded approach to product development and leadership.
By bringing Sharma on board, IntelliTrans reinforces its dedication to product innovation and growth. The company remains focused on enhancing its multimodal SaaS-based TMS solution, making logistics operations more streamlined, visible, and efficient for its global customers.
About IntelliTrans Multimodal Transportation Solutions
IntelliTrans, a Roper Technologies business (Nasdaq: ROP), empowers businesses to optimize their supply chains with seamless freight management and shipment execution across all modes of transportation, including rail, truck, ocean, and barge. IntelliTrans’ trusted transportation management solutions enable customers to solve complex business challenges and help achieve a holistic digital strategy by incorporating multimodal solutions backed by extensive industry knowledge. Recognized as a top transportation management provider, IntelliTrans has recently received the Inbound Logistics Top 100 Logistics IT Provider Award, the 2023 BIG Innovation Award, the Cloud Computing Product of the Year Award, and the Food Logistics/SDCE Top Software and Technology Award. Unlock hidden efficiencies in your supply chain. Visit our website to see how IntelliTrans can help.
Media Contact for IntelliTrans:
Becky Boyd
MediaFirst PR (M1PR.com)
404.421.8497
becky@mediafirst.net
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/060fceb0-b427-493e-a790-3336ff225870
Source: The Conversation – Africa – By James Ransom, Researcher: societal challenges, UCL
Universities play a number of crucial roles in society. They educate students, research solutions to problems and serve as spaces for national debate. This is especially true for large public institutions, often referred to as flagship universities. A number were launched with great fanfare around the time of a country’s independence from colonial rule. They were tasked with driving national development by training skilled graduates to fill workforce gaps and conducting applied research to address societal challenges. Many have done well in their historic national missions. But how are they performing today when it comes to serving their local communities?
Higher education researcher James Ransom set out to answer this question in his new book, Revisiting Africa’s Flagship Universities: Local, National and International Dynamics. He analysed local engagement at ten African flagship universities: Ethiopia’s University of Addis Ababa; Makerere University in Uganda; the universities of Ghana, Namibia, Rwanda, Mauritius, Zambia and Zimbabwe; the University of Cape Town in South Africa and Nigeria’s University of Ibadan. He tells The Conversation Africa what he learned.
They are pillars of the nation: their campuses are intertwined with history as sites of protest and revolution; their researchers lead the way in publications and research; their students are tomorrow’s leaders.
Sometimes there is one flagship in a country. Sometimes a country will be home to several. In Nigeria, the University of Ibadan is joined by the University of Nigeria at Nsukka.
Small, specialist institutions and private universities all play important roles in national higher education systems. But flagships are the trendsetters. They often mentor new universities by seconding senior staff to lead them, and helping design the curricula. Their staff sit on government committees. They have international partnerships and projects.
The term “flagship” has been used elsewhere in the world, not just in post-colonial countries. In the book I focused on Anglophone sub-Saharan Africa, including countries that were not traditional colonial states, such as Ethiopia.
Read more: The untold story of how Africa’s flagship universities have advanced
In the UK, where I live, we have seen a shift in the expectations placed upon universities.
The “redbrick” universities, such as Birmingham and Liverpool, are a good example. They were founded in the 19th century to meet local needs. Then they developed strong global ambitions over the next hundred years, excelling in world-leading research and innovation.
During the past couple of decades, the local question returned: what are you doing to serve your local community? The redbricks (and many others) have responded – nudged along by national policies and frameworks – with serious programmes of civic engagement. These include projects designed with communities, seconding staff into local planning organisations, and opening up their campuses to communities – from 5-a-side football pitches to photography exhibitions.
The shift I witnessed in the UK, and mirrored in my work across Europe and Canada, made me wonder: has a similar shift, from a historic national mission to a local one, taken place for African universities?
The question is timely. Societal challenges may be national or global in scale. But they need local knowledge and local partnerships to solve at the local level. This means universities working with local government, which is a key focus of my work. The Organisation for Economic Co-operation and Development has calculated that 100 of the 169 UN Sustainable Development Goal targets can only be achieved if local governments are involved. Universities can play an important supporting role.
It is clear that flagship universities’ local work is growing and will continue to grow. For instance, Addis Ababa University established a railway engineering centre to train engineers to maintain the city’s light rail transit system, with students employed by the Ethiopian Railway Corporation. The University of Ghana runs satellite campuses in all ten regional capitals. This allows it to reach remote areas and to establish a local presence in different regions.
Successful projects often emerge from deep links with local communities. Ibadan has worked closely with a few communities over many decades. These “field laboratories” include a community health programme in the village of Ibarapa, which began in the early 1960s with funding from the Rockefeller Foundation and technical support from the Liverpool School of Tropical Medicine and the London School of Hygiene and Tropical Medicine.
The programme has trained hundreds of medical students in community medicine through practical work in rural areas, while also improving health services and conducting research on health issues in the Ibarapa community. An example is studying and addressing neglected tropical diseases such as onchocerciasis (river blindness) and guinea worm.
In 2020 the University of Ibadan signed a memorandum of understanding with the local government on the Ibarapa programme. Over half a century after it began, local partnerships continue to sustain the programme.
However, a national focus continues to dominate at all ten institutions I studied. This is perhaps best illustrated by the University of Rwanda. Local engagement activity is secondary to the nation’s development strategy spearheaded by its Vision 2050, an ambitious effort to become an upper-middle income country in the next 25 years.
There is some local activity, of course. Students provide health services to the community, staff run community workshops on informal housing, and there are plans to open model farms to showcase irrigation and agricultural mechanisation. But all of this ultimately serves the national vision.
Rwanda is a small country, but this finding – of national priorities dominating at the expense of local programmes – was consistent across all the flagships I studied, in large countries like Nigeria as well as in other small countries like Mauritius and Namibia.
Flagships are complex institutions, with rich histories and often complicated relationships with government. They are survivors, skilled at balancing multiple roles. There is much that other universities can learn from flagships, and that flagships can learn from each other – and more of these partnerships are needed.
But one senior staff member at a flagship university told me that many African university heads
feel rather oppressed by the narratives from higher education leaders in other parts of the world
They were talking about international benchmarking, unequal research partnerships, and models of “best practice”. These constrain the local role of flagships, creating identikit institutions. The result is a race to local irrelevance. Relevance can only emerge from an approach that reflects the local and national context.
Universities that capture the work they do locally, effectively communicate this, and can demonstrate how it is relevant to society, will be in a good place to chart their own path as a pillar of the nation.
– Africa’s flagship universities have a proud history – but are they serving local communities?
– https://theconversation.com/africas-flagship-universities-have-a-proud-history-but-are-they-serving-local-communities-240813
Source: The Conversation – Africa – By Rennie Naidoo, Professor of Information Systems, University of the Witwatersrand
If you visit a commercial mining operation anywhere in the world today, some sights and sounds – workers descending in elevators to underground shafts, the roar of truck engines – will be much the same as they have been for decades.
But, like many other industries, mining is changing. Digital mining involves the use of digital technologies to make mining operations more efficient, safer, and sustainable. This industry emerged about a decade ago and has developed quickly over the past few years. This uptick is the result of recent advances in sensor technology, data analytics and artificial intelligence (AI), including machine learning.
However, while technology improves, old problems persist. Large-scale mining causes massive deforestation in regions like the Amazon. It also threatens and displaces communities, as in the case of Brazil’s Xikrin and Kayapó people. In the Democratic Republic of Congo (DRC), the mining of cobalt, copper and coltan (all crucial for modern technology) contaminates local water supplies and puts workers – including children – in danger.
Read more: What coltan mining in the DRC costs people and the environment
Is it time to make mining obsolete? This is not a realistic solution, at least not in the near future. Many modern technologies, like smartphones, electric vehicles, solar panels and wind turbines, depend on minerals extracted through mining. The global move towards renewable energy and low-carbon technologies means demand for minerals like lithium and cobalt is rising.
So, while mining has environmental costs, it’s also critical in the shift to a greener economy. And mining is economically important in many parts of the world. In African countries it supports millions of jobs and contributes significantly to GDP.
This is why sustainable mining is crucial. I am a professor of information systems. I investigate the complex interactions between technology, people and organisations in achieving sustainability goals. In a recent paper with a co-author, I examined how digital technologies could help mining operations to balance economic objectives with environmental and social sustainability.
The findings make it clear that digital technologies can transform mining practices and achieve sustainability goals at the same time.
Our paper took the form of a case study. We interviewed professionals from a leading digital mining solutions company. It has operations in South Africa, Australia, Brazil, Chile and the United States. The interviewees were engineers, senior managers and executives. They offered a glimpse into how their large-scale mining clients were using digital technologies like automated haul trucks and collision avoidance systems.
We wanted to know how their clients saw the role of digital technology in balancing business and other goals. They outlined some successful cases and others where companies were struggling to align all their aims.
It was clear that the company and its clients recognised the importance of safety and environmental issues in their work. But they saw these issues through the lens of business sustainability. For instance, while some mining companies pursued safety improvements, they did it primarily to boost productivity and bring down costs.
One interviewee gave the example of collision avoidance systems. Companies valued these because they reduced downtime and improved productivity. They focused on immediate business needs.
It’s time for mining companies that are serious about sustainability to shift their focus. Rather than simply looking to make immediate profits, they need to consider environmental and social impacts – and the role digital technology can play.
As a simple example, AI can predict when machinery is likely to fail. This allows companies to carry out timely maintenance. Equipment lifespan is extended. Downtime and repair costs are reduced. And worker safety is improved because there are fewer unexpected breakdowns. This is the kind of sustainable approach, underpinned by digital technology, that can help mining companies tick all the right boxes.
Mining leaders must not exclude employees and stakeholders when considering these issues. Environmental advocates have a role to play, too: companies must work with these groups and with local communities. A shared understanding of how digital technologies can meet both financial and sustainability targets is key.
Mining companies are more likely to change if there are clear financial benefits or penalties tied to sustainability. Governments can help by introducing stricter environmental regulations and offering incentives to adopt sustainable digital technologies. In South Africa, for instance, there are tax incentives and subsidies to encourage the use of renewable energy in mining. These measures, expanded recently in response to the country’s energy crisis, have sparked significant investment in solar power.
When paired with digital monitoring systems, renewable energy solutions can enhance efficiency by optimising energy consumption and reducing carbon emissions. Technologies like AI-driven energy management systems can help mines integrate renewable sources with less energy wastage. Thus, tax breaks or subsidies for digital solutions that support green energy adoption could motivate companies to embrace greener and more tech-driven mining practices.
Consumers and investors, meanwhile, should invest in those mining companies that demonstrate responsible practices. Ethical investment funds need to support companies with strong environmental, social, and governance credentials.
– Mining must become more responsible and sustainable. Where hi-tech solutions fit in
– https://theconversation.com/mining-must-become-more-responsible-and-sustainable-where-hi-tech-solutions-fit-in-240558
Source: Amnesty International –
All parties to the ongoing conflict in Sudan must end attacks on civilians, said Amnesty International, in the wake of escalating violence in towns and villages across Gezira state over the past week.
Relatives of victims interviewed remotely by Amnesty International said that the Rapid Support Forces (RSF) attacked Tamboul, Rufaa, Al-Hilaliya, Al- Seriha and Al-Uzibah in eastern Gezira state, killing people in their homes, in markets and on the streets, and looting property including from markets and hospitals. Thousands of people have also been displaced according to the UN.
“All countries fueling this brutal conflict must immediately cease direct and indirect supplies of all arms and ammunition to both sides and respect and enforce the UN Security Council’s arms embargo regime on Darfur.”
“The reports of extreme violence coming out from Sudan’s Gezira state are alarming. Amnesty International calls on the Rapid Support Forces (RSF) and the Sudanese Armed Forces (SAF) to end all indiscriminate and deliberate attacks on civilians across the country. All parties to the conflict must also allow safe passage to civilians trying to flee conflict areas and ensure that they facilitate unimpeded and unrestricted delivery of humanitarian aid to all in need without discrimination,” said Amnesty International’s Regional Director for East and Southern Africa, Tigere Chagutah.
“All countries fueling this brutal conflict must immediately cease direct and indirect supplies of all arms and ammunition to both sides and respect and enforce the UN Security Council’s arms embargo regime on Darfur.”
All countries fueling this brutal conflict must immediately cease direct and indirect supplies of all arms and ammunition to both sides and respect and enforce the UN Security Council’s arms embargo regime on Darfur.
Tigere Chagutah, Amnesty International’s Regional Director for East and Southern Africa
A close relative of some of the victims, who is currently in Kassala city, said:
“On 20 October, my 42-year-old cousin and three other close relatives were killed by the RSF in Tamboul. My cousin was killed in his home and the other relatives were killed in the market.”
Three other people whose relatives were impacted by the attacks in Gezira told Amnesty International that some of their family members are still missing. One relative said:
“My father, my aunt, my stepmother, my two uncles, my younger brother and my grandmother are all missing, they lived in Tamboul – which was attacked on Sunday 20 October by the RSF and that is the last time we heard from them. We do not know if they are alive or dead, we are completely devastated.”
On 20 October, my 42-year-old cousin and three other close relatives were killed by the RSF in Tamboul. My cousin was killed in his home and the other relatives were killed in the market.
Relative to victims of latest attacks
Background
Following the defection to the SAF of Abu Aqla Keikel, a former RSF commander in Gezira state, on 20 October, the RSF launched retaliatory attacks on towns and villages in the eastern part of Gezira state targeting communities in that area.
According to the UN, at least 25 cases of sexual violence were reported in several villages in Sharq Al-Jazira locality.
Source: The Conversation – Africa – By Rennie Naidoo, Professor of Information Systems, University of the Witwatersrand
If you visit a commercial mining operation anywhere in the world today, some sights and sounds – workers descending in elevators to underground shafts, the roar of truck engines – will be much the same as they have been for decades.
But, like many other industries, mining is changing. Digital mining involves the use of digital technologies to make mining operations more efficient, safer, and sustainable. This industry emerged about a decade ago and has developed quickly over the past few years. This uptick is the result of recent advances in sensor technology, data analytics and artificial intelligence (AI), including machine learning.
However, while technology improves, old problems persist. Large-scale mining causes massive deforestation in regions like the Amazon. It also threatens and displaces communities, as in the case of Brazil’s Xikrin and Kayapó people. In the Democratic Republic of Congo (DRC), the mining of cobalt, copper and coltan (all crucial for modern technology) contaminates local water supplies and puts workers – including children – in danger.
Read more:
What coltan mining in the DRC costs people and the environment
Is it time to make mining obsolete? This is not a realistic solution, at least not in the near future. Many modern technologies, like smartphones, electric vehicles, solar panels and wind turbines, depend on minerals extracted through mining. The global move towards renewable energy and low-carbon technologies means demand for minerals like lithium and cobalt is rising.
So, while mining has environmental costs, it’s also critical in the shift to a greener economy. And mining is economically important in many parts of the world. In African countries it supports millions of jobs and contributes significantly to GDP.
This is why sustainable mining is crucial. I am a professor of information systems. I investigate the complex interactions between technology, people and organisations in achieving sustainability goals. In a recent paper with a co-author, I examined how digital technologies could help mining operations to balance economic objectives with environmental and social sustainability.
The findings make it clear that digital technologies can transform mining practices and achieve sustainability goals at the same time.
Our paper took the form of a case study. We interviewed professionals from a leading digital mining solutions company. It has operations in South Africa, Australia, Brazil, Chile and the United States. The interviewees were engineers, senior managers and executives. They offered a glimpse into how their large-scale mining clients were using digital technologies like automated haul trucks and collision avoidance systems.
We wanted to know how their clients saw the role of digital technology in balancing business and other goals. They outlined some successful cases and others where companies were struggling to align all their aims.
It was clear that the company and its clients recognised the importance of safety and environmental issues in their work. But they saw these issues through the lens of business sustainability. For instance, while some mining companies pursued safety improvements, they did it primarily to boost productivity and bring down costs.
One interviewee gave the example of collision avoidance systems. Companies valued these because they reduced downtime and improved productivity. They focused on immediate business needs.
It’s time for mining companies that are serious about sustainability to shift their focus. Rather than simply looking to make immediate profits, they need to consider environmental and social impacts – and the role digital technology can play.
As a simple example, AI can predict when machinery is likely to fail. This allows companies to carry out timely maintenance. Equipment lifespan is extended. Downtime and repair costs are reduced. And worker safety is improved because there are fewer unexpected breakdowns. This is the kind of sustainable approach, underpinned by digital technology, that can help mining companies tick all the right boxes.
Mining leaders must not exclude employees and stakeholders when considering these issues. Environmental advocates have a role to play, too: companies must work with these groups and with local communities. A shared understanding of how digital technologies can meet both financial and sustainability targets is key.
Mining companies are more likely to change if there are clear financial benefits or penalties tied to sustainability. Governments can help by introducing stricter environmental regulations and offering incentives to adopt sustainable digital technologies. In South Africa, for instance, there are tax incentives and subsidies to encourage the use of renewable energy in mining. These measures, expanded recently in response to the country’s energy crisis, have sparked significant investment in solar power.
When paired with digital monitoring systems, renewable energy solutions can enhance efficiency by optimising energy consumption and reducing carbon emissions. Technologies like AI-driven energy management systems can help mines integrate renewable sources with less energy wastage. Thus, tax breaks or subsidies for digital solutions that support green energy adoption could motivate companies to embrace greener and more tech-driven mining practices.
Consumers and investors, meanwhile, should invest in those mining companies that demonstrate responsible practices. Ethical investment funds need to support companies with strong environmental, social, and governance credentials.
Rennie Naidoo does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. Mining must become more responsible and sustainable. Where hi-tech solutions fit in – https://theconversation.com/mining-must-become-more-responsible-and-sustainable-where-hi-tech-solutions-fit-in-240558
Source: The Conversation – Africa – By James Ransom, Researcher: societal challenges, UCL
Universities play a number of crucial roles in society. They educate students, research solutions to problems and serve as spaces for national debate. This is especially true for large public institutions, often referred to as flagship universities. A number were launched with great fanfare around the time of a country’s independence from colonial rule. They were tasked with driving national development by training skilled graduates to fill workforce gaps and conducting applied research to address societal challenges. Many have done well in their historic national missions. But how are they performing today when it comes to serving their local communities?
Higher education researcher James Ransom set out to answer this question in his new book, Revisiting Africa’s Flagship Universities: Local, National and International Dynamics. He analysed local engagement at ten African flagship universities: Ethiopia’s University of Addis Ababa; Makerere University in Uganda; the universities of Ghana, Namibia, Rwanda, Mauritius, Zambia and Zimbabwe; the University of Cape Town in South Africa and Nigeria’s University of Ibadan. He tells The Conversation Africa what he learned.
They are pillars of the nation: their campuses are intertwined with history as sites of protest and revolution; their researchers lead the way in publications and research; their students are tomorrow’s leaders.
Sometimes there is one flagship in a country. Sometimes a country will be home to several. In Nigeria, the University of Ibadan is joined by the University of Nigeria at Nsukka.
Small, specialist institutions and private universities all play important roles in national higher education systems. But flagships are the trendsetters. They often mentor new universities by seconding senior staff to lead them, and helping design the curricula. Their staff sit on government committees. They have international partnerships and projects.
The term “flagship” has been used elsewhere in the world, not just in post-colonial countries. In the book I focused on Anglophone sub-Saharan Africa, including countries that were not traditional colonial states, such as Ethiopia.
Read more:
The untold story of how Africa’s flagship universities have advanced
In the UK, where I live, we have seen a shift in the expectations placed upon universities.
The “redbrick” universities, such as Birmingham and Liverpool, are a good example. They were founded in the 19th century to meet local needs. Then they developed strong global ambitions over the next hundred years, excelling in world-leading research and innovation.
During the past couple of decades, the local question returned: what are you doing to serve your local community? The redbricks (and many others) have responded – nudged along by national policies and frameworks – with serious programmes of civic engagement. These include projects designed with communities, seconding staff into local planning organisations, and opening up their campuses to communities – from 5-a-side football pitches to photography exhibitions.
The shift I witnessed in the UK, and mirrored in my work across Europe and Canada, made me wonder: has a similar shift, from a historic national mission to a local one, taken place for African universities?
The question is timely. Societal challenges may be national or global in scale. But they need local knowledge and local partnerships to solve at the local level. This means universities working with local government, which is a key focus of my work. The Organisation for Economic Co-operation and Development has calculated that 100 of the 169 UN Sustainable Development Goal targets can only be achieved if local governments are involved. Universities can play an important supporting role.
It is clear that flagship universities’ local work is growing and will continue to grow. For instance, Addis Ababa University established a railway engineering centre to train engineers to maintain the city’s light rail transit system, with students employed by the Ethiopian Railway Corporation. The University of Ghana runs satellite campuses in all ten regional capitals. This allows it to reach remote areas and to establish a local presence in different regions.
Successful projects often emerge from deep links with local communities. Ibadan has worked closely with a few communities over many decades. These “field laboratories” include a community health programme in the village of Ibarapa, which began in the early 1960s with funding from the Rockefeller Foundation and technical support from the Liverpool School of Tropical Medicine and the London School of Hygiene and Tropical Medicine.
The programme has trained hundreds of medical students in community medicine through practical work in rural areas, while also improving health services and conducting research on health issues in the Ibarapa community. An example is studying and addressing neglected tropical diseases such as onchocerciasis (river blindness) and guinea worm.
In 2020 the University of Ibadan signed a memorandum of understanding with the local government on the Ibarapa programme. Over half a century after it began, local partnerships continue to sustain the programme.
However, a national focus continues to dominate at all ten institutions I studied. This is perhaps best illustrated by the University of Rwanda. Local engagement activity is secondary to the nation’s development strategy spearheaded by its Vision 2050, an ambitious effort to become an upper-middle income country in the next 25 years.
There is some local activity, of course. Students provide health services to the community, staff run community workshops on informal housing, and there are plans to open model farms to showcase irrigation and agricultural mechanisation. But all of this ultimately serves the national vision.
Rwanda is a small country, but this finding – of national priorities dominating at the expense of local programmes – was consistent across all the flagships I studied, in large countries like Nigeria as well as in other small countries like Mauritius and Namibia.
Flagships are complex institutions, with rich histories and often complicated relationships with government. They are survivors, skilled at balancing multiple roles. There is much that other universities can learn from flagships, and that flagships can learn from each other – and more of these partnerships are needed.
But one senior staff member at a flagship university told me that many African university heads
feel rather oppressed by the narratives from higher education leaders in other parts of the world
They were talking about international benchmarking, unequal research partnerships, and models of “best practice”. These constrain the local role of flagships, creating identikit institutions. The result is a race to local irrelevance. Relevance can only emerge from an approach that reflects the local and national context.
Universities that capture the work they do locally, effectively communicate this, and can demonstrate how it is relevant to society, will be in a good place to chart their own path as a pillar of the nation.
James Ransom does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. Africa’s flagship universities have a proud history – but are they serving local communities? – https://theconversation.com/africas-flagship-universities-have-a-proud-history-but-are-they-serving-local-communities-240813
Source: United Kingdom – Government Statements
The UK Health Security Agency (UKHSA) has detected a single confirmed human case of Clade Ib mpox.
The UK Health Security Agency (UKHSA) has detected a single confirmed human case of Clade Ib mpox. The risk to the UK population remains low.
This is the first detection of this Clade of mpox in the UK. It is different from mpox Clade II that has been circulating at low levels in the UK since 2022, primarily among gay, bisexual and other men-who-have-sex-with-men (GBMSM).
UKHSA, the NHS and partner organisations have well tested capabilities to detect, contain and treat novel infectious diseases, and while this is the first confirmed case of mpox Clade Ib in the UK, there has been extensive planning underway to ensure healthcare professionals are equipped and prepared to respond to any confirmed cases.
The case was detected in London and the individual has been transferred to the Royal Free Hospital High Consequence Infectious Diseases unit. They had recently travelled to countries in Africa that are seeing community cases of Clade Ib mpox. The UKHSA and NHS will not be disclosing any further details about the individual.
Close contacts of the case are being followed up by UKHSA and partner organisations. Any contacts will be offered testing and vaccination as needed and advised on any necessary further care if they have symptoms or test positive.
UKHSA is working closely with the NHS and academic partners to determine the characteristics of the pathogen and further assess the risk to human health. While the existing evidence suggests mpox Clade Ib causes more severe disease than Clade II, we will continue to monitor and learn more about the severity, transmission and control measures. We will initially manage Clade Ib as a high consequence infectious disease (HCID) whilst we are learning more about the virus.
Professor Susan Hopkins, Chief Medical Adviser at UKHSA, said:
It is thanks to our surveillance that we have been able to detect this virus. This is the first time we have detected this Clade of mpox in the UK, though other cases have been confirmed abroad.
The risk to the UK population remains low, and we are working rapidly to trace close contacts and reduce the risk of any potential spread. In accordance with established protocols, investigations are underway to learn how the individual acquired the infection and to assess whether there are any further associated cases.
Health and Social Care Secretary Wes Streeting, said:
I am extremely grateful to the healthcare professionals who are carrying out incredible work to support and care for the patient affected.
The overall risk to the UK population currently remains low and the government is working alongside UKHSA and the NHS to protect the public and prevent transmission.
This includes securing vaccines and equipping healthcare professionals with the guidance and tools they need to respond to cases safely.
We are also working with our international partners to support affected countries to prevent further outbreaks.
Steve Russell, NHS national director for vaccination and screening, said:
The NHS is fully prepared to respond to the first confirmed case of this clade of mpox.
Since mpox first became present in England, local services have pulled out all the stops to vaccinate those eligible, with tens of thousands in priority groups having already come forward to get protected, and while the risk of catching mpox in the UK remains low, if required the NHS has plans in place to expand the roll out of vaccines quickly in line with supply.
Clade Ib mpox has been widely circulating in the Democratic Republic of Congo (DRC) in recent months and there have been cases reported in Burundi, Rwanda, Uganda, Kenya, Sweden, India and Germany.
Clade Ib mpox was detected by UKHSA using polymerase chain reaction (PCR) testing.
Common symptoms of mpox include a skin rash or pus-filled lesions which can last 2 to 4 weeks. It can also cause fever, headaches, muscle aches, back pain, low energy and swollen lymph nodes.
The infection can be passed on through close person-to-person contact with someone who has the infection or with infected animals and through contact with contaminated materials. Anyone with symptoms should continue to avoid contact with other people while symptoms persist.
The UK has an existing stock of mpox vaccines and last month announced further vaccines are being procured to support a routine immunisation programme to provide additional resilience in the UK. This is in line with more recent independent JCVI advice.
Working alongside international partners, UKHSA has been monitoring Clade Ib mpox closely since the outbreak in DRC first emerged, publishing regular risk assessment updates.
The wider risk to the UK population remains low.
UKHSA has published its first technical briefing on clade I mpox which provides further information on the current situation and UK preparedness and response.
Source: United Nations secretary general
Excellencies, Friends,
We are here today as we enter the last stretch of a crucial negotiation.
Next month, Member States will meet in Busan, Republic of Korea to negotiate a multilateral solution to end plastic pollution.
A solution that is vital for people, planet and prosperity alike.
My thanks to the Government of Colombia for bringing us together today.
And I commend you for leading by example – with ambitious national measures to reduce single-use plastics.
Excellencies, dear Friends,
We are here because we know the obvious.
Plastic pollution is everywhere – all around us and even inside us – from our seas to our blood, to our brains.
We are choking on plastic.
Every year, people may ingest the equivalent of up to 50 plastic bags due to microplastics in food.
Each year, humanity produces over 460 million metric tonnes of plastic.
Half of it is designed for single-use purposes – used once and tossed away.
By 2050, there could be more plastic in the ocean than fish.
And so, it is clear that we need action, and fortunately, people are now demanding it.
Excellencies, dear Friends,
We would not be here today but for the historic step taken by Peru and Rwanda in introducing a joint proposal that paved the way for the adoption, in 2022, at the UN Environment Assembly, of a landmark resolution to begin the process to end plastic pollution.
Since then, solidarity has been the hallmark of these negotiations.
We see this solidarity enshrined in the Kunming-Montreal Global Biodiversity Framework that has reinforced the importance of addressing pollution from all sources to reduce the impacts of pollution on ecosystems and biodiversity.
And we see this solidarity in the Pact for the Future, through which Member States recommitted to work towards the conclusion of a plastics agreement “with the ambition of completing negotiations by the end of 2024”.
In Busan, Member States will have the chance to deliver on these promises and agree on a global treaty to end plastic pollution – once and for all.
This has not been a road without challenges, but it has been a journey of progress.
I thank the Chair of the International Negotiating Committee, Luis Vayas Valdivieso, as well as his predecessor Gustavo Meza-Cuadra, for getting us through five rounds of complex negotiations.
This is an opportunity to demonstrate that multilateralism, while not always easy, can deliver for people, health and the environment.
The ball is now in the court of Member States to land an agreement that is ambitious, credible and just.
An agreement that addresses the life cycle of plastic – tackling single-use and short-lived plastics;
An agreement that responds to the needs of people and communities and that unleashes a just transition for all – including 20 million waste pickers around the world.
Excellencies, dear Friends,
As the Montreal Protocol demonstrated almost forty years ago, international cooperation underpinned by meaningful legally binding agreements remains the most fruitful avenue to address global environmental challenges.
I urge you to step up for human health, equity and justice.
To step up for the future of people and planet.
An ambitious agreement is the only way to end plastic pollution.
Thank you.
Source: Office of United States Attorneys
A man who fled from law enforcement while possessing methamphetamine was sentenced October 25, 2024, in federal court in Sioux City.
Chad Hughes, 40, from Sioux City, Iowa, pled guilty on May 31, 2024, to possession of methamphetamine with intent to distribute. Hughes was previously convicted of a federal firearms offense in 2005, federal assault in 2010, and two federal escapes in 2017 and 2018, respectively.
At the plea and sentencing hearings evidence showed that Hughes possessed almost ½ pound of methamphetamine which he intended to distribute to others in Sioux City. On June 24, 2023, when law enforcement attempted to stop the motorcycle Hughes was operating, he fled from law enforcement in a high-speed pursuit through cities of Sioux City, Iowa and North Sioux City, South Dakota. During the pursuit Hughes ditched the motorcycle and a backpack to avoid apprehension. Law enforcement seized the backpack which contained methamphetamine, drug paraphernalia, a BB gun, and other items which aided in the ultimate identification of Hughes.
Sentencing was held before United States District Court Judge Leonard T. Strand. Hughes was sentenced to 170 months’ imprisonment and must serve a five-year term of supervised release following imprisonment. There is no parole in the federal system. Hughes remains in custody of the United States Marshal until he can be transported to a federal prison.
The case was prosecuted by Assistant United States Attorney Shawn S. Wehde and was investigated by the Iowa State Patrol, North Sioux City, South Dakota, Police Department, and the Tri-State Drug Task Force based in Sioux City, Iowa, that consists of law enforcement personnel from the Drug Enforcement Administration; Sioux City, Iowa, Police Department; Homeland Security Investigations; Woodbury County Sheriff’s Office; South Sioux City, Nebraska, Police Department; Nebraska State Patrol; Iowa National Guard; Iowa Division of Narcotics Enforcement; United States Marshals Service; South Dakota Division of Criminal Investigation; and Woodbury County Attorney’s Office.
Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.
The case file number is 23-4053. Follow us on X @USAO_NDIA.
Source: Africa Press Organisation – English (2) – Report:
WASHINGTON D.C., United States of America, October 30, 2024/APO Group/ —
The eighth Babacar Ndiaye Lecture held at the Four Seasons Hotel in Washington D.C., on 26 October 2024, under-scored the need for African nations to strike a balance between short-term development imperatives and long-term climate goals.
Under the theme “Saving Lives Today versus Saving the Planet for the Future: Can the AfCFTA Resolve the Climate Change Dilemma?” discussions centred on how the African Continental Free Trade Area (AfCFTA), Africa’s most ambitious trade initiative, could serve as a vehicle for economic growth and environmental sustainability, positioning the continent as a leader in the global green transition.
The Lecture drew a distinguished audience of policymakers, academics, financial experts and climate advocates.
Speaking about Dr. Babacar Ndiaye in his opening remarks, H.E. Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank Group, said “Dr Babacar Ndiaye was most concerned by the long-term threats posed to humanity by climate change. He once said, “Climate change is the greatest threat to development, particularly in Africa, where millions of people depend on the environment for their livelihoods … Africa’s economic transformation cannot happen without addressing climate change.”
Dr. Ndiaye’s reflection on the impact of climate change was spot-on and intellectually deep.” But, “disappointingly, the global debate on climate has been so much focused on emissions reduction with the question of reducing its impact on Africa and other developing countries always reduced to a footnote. A call for Africa to decarbonise, when the continent has not even carbonised, poses a serious threat to the socio-economic development of a gas-rich continent that has at least six hundred million people without electricity.”
The African Continental Free Trade Area Agreement “is seen as a potent means of reducing carbon emissions as it is helping to domesticate industrial activities and minimise the carbon emissions caused by shipping of commodities to far-away lands for value addition and reshipping to Africa and elsewhere. We believe that The AfCFTA could offer a pathway to a just transition, enabling local industrial value addition while protecting the planet.”
Professor Yemi Osinbajo, SAN, GCON, the Immediate Past Vice President of the Federal Republic of Nigeria, delivered a powerful address titled “Sustainable Infrastructure for Africa’s Future: Harnessing Innovation and Partnerships.” He spoke passionately about the advantages of the AfCFTA and its potential to transform Africa’s trade landscape, reduce carbon emissions and foster innovation in green industries.
“There are two obvious advantages to a fully operational AfCFTA.The first is that 42% of African countries, aside from North Africa, now have legislation prohibiting the export of raw ores or minerals before being processed. This legislation gives African countries the benefit of jobs and revenues from local processing and manufacturing.
“The second advantage of the AfCFTA is that shipping is a major source of carbon emissions. Under current trade practices, a large share of African raw materials are exported to other regions, where they are processed or manufactured into finished products, usually using fossil fuel power sources, before being shipped back to Africa for consumption. This cycle contributes to higher emissions and constitutes a loss for African countries that do not reap the value chain gain from beneficiation. Intra-African trade in finished goods will substantially reduce this massive cause of global emissions,” he said.
The reduction of emissions by intra-African trade has been the subject of several empirical studies. Professor Osinbajo referred to a recent ECA/ CEPII study titled “Greening the African Continental Free Trade Area Agreement’s Implementation” published in December 2023, which found, inter alia, that implementing the AfCFTA can boost intra-African trade by 35% in 2045 while increasing GHG emissions by less than 1%, compared to no AfCFTA or climate policies.
These studies do not factor in using renewable energy sources in the processing and manufacturing of traded goods, an assumption of the Climate Positive Growth paradigm, which would again substantially reduce emissions.
Professor Osinbajo cited mining bauxite in Guinea as an example. If Guinea, which has 25% of global deposits of bauxite, processed the bauxite it mines to aluminium with renewable energy in readiness for export, Guinea could save the world 335 million tonnes of carbon dioxide equivalent (CO2e) per year, which is approximately 1% of global emissions, and create 280,000 jobs and generate $37 billion of additional revenue. If it chooses to sell the aluminium within Africa, it will again save the huge shipping cost to countries thousands of miles away.
A Bloomberg study done for the African Development Bank (AfDB) in 2021 on the manufacture of battery precursors found that manufacturing battery precursors in the Democratic Republic of the Congo (DRC), which has plenty of lithium and cobalt, is three times cheaper than manufacturing it in the US, EU and China. Manufacturing in the DRC would extend value chain opportunities to other African countries, they would need manganese from Zambia, Tanzania, Gabon and South Africa to contribute to its capacity to produce these battery precursors. Manufacturing using renewable energy could significantly reduce the cost of manufacturing. Africa’s abundant renewable energy has very low seasonality or intermittency, making it possible to reliably provide a renewable baseload to power continuous industrial production.
“The AfCFTA empowers African countries first to add value to materials and specialise in areas of national comparative advantage, and also to work together to trade more beneficially with the rest of the world,” said Prof Osinbajo.
He futher said that “Most African countries depend on fossil fuels for their energy needs and for fossil fuel rich African countries, this is also a major source of export earnings and fiscal revenues. Ostensibly in keeping with their net zero obligations, there has been a growing trend amongst development finance institutions to withdraw from fossil fuel investment. These actions include the World Bank’s decision to cease funding for upstream oil and gas development in Africa and the restrictions on financing downstream gas development by the European Union, the United Kingdom, and the United States. Clearly, the implications of these actions are dire, where there are no immediate alternative sources of power and the cost of the transition to cleaner fuels may be prohibitive. Some studies show that divesting from fossil fuels could reduce GDP by as much as USD$30 billion for Nigeria, USD$22 billion for Algeria, and USD$19.3 billion for Angola.”
H.E. Dr Rania A Al-Mashat, Minister for Planning, Economic Development and International Co-operation, Arab Republic of Egypt said that while the “African continent is the least responsible for carbon emissions, it has the biggest burden in terms of financing climate change for developmental needs – such as food and water security, and access to energy.
She called for greater collaboration with national and international stakeholders “We need to work together; we need to bring the experiences from other places so that Africa can push forward with respect to development and sustainable economic growth.”
In her Goodwill Message, Ms. Amina J. Mohammed, Deputy Secretary-General of the United Nations and Chair of the United Nations Sustainable Development Group, spoke about the rapidly closing window to prevent the worst impacts of climate change. She addressed the fact that many African countries are mired in debt, exacerbated by extended crises with little access to long-term concessional financing to invest in sustainable development.
“With adequate access to financial resources at a reasonable cost, renewables can dramatically boost economies, grow new industries, create jobs and drive development, including by reaching the over 600 million Africans living without access to power,” said Ms Mohammed.
She also stressed the importance of prioritising inclusive policies that empower women and youth when building climate-resilient economies.
“By harnessing the collective might of the AfCFTA, Africa can make strides in addressing both climate action and sustainable development by promoting regional integration and fostering green industrialisation.
“The AfCFTA can help build climate-resilient economies while creating jobs, reducing poverty and strengthening food security.”
The eighth Babacar Ndiaye Lecture also reinforced Afreximbank’s commitment to leadership in financing sustainable infrastructure and trade policies across the continent.
Source: Apple
Headline: Apple introduces M4 Pro and M4 Max
October 30, 2024
PRESS RELEASE
Apple introduces M4 Pro and M4 Max
M4 Pro and M4 Max join M4 to form the most advanced family of chips ever built for a personal computer
CUPERTINO, CALIFORNIA Apple today announced M4 Pro and M4 Max, two new chips that — along with M4 — bring far more power-efficient performance and advanced capabilities to the Mac. All three chips are built using industry-leading, second-generation 3-nanometer technology, which improves performance and power efficiency. The CPUs across the M4 family feature the world’s fastest CPU core, delivering the industry’s best single-threaded performance, and dramatically faster multithreaded performance.1 The GPUs build on the breakthrough graphics architecture introduced in the previous generation, with faster cores and a 2x faster ray-tracing engine. M4 Pro and M4 Max enable Thunderbolt 5 for the Mac for the first time, and unified memory bandwidth is greatly increased — up to 75 percent. Combined with a Neural Engine that’s up to 2x faster than the previous generation and enhanced machine learning (ML) accelerators in the CPUs, the M4 family of chips brings incredible performance for pro and AI workloads. And they deliver blazing performance for Apple Intelligence, the personal intelligence system that transforms how users work, communicate, and express themselves, while protecting their privacy.
“Apple silicon has taken the Mac to unprecedented heights, and the rapid pace of innovation continues with M4 Pro and M4 Max,” said Johny Srouji, Apple’s senior vice president of Hardware Technologies. “With the world’s fastest CPU core, immensely more powerful GPUs, and the fastest Neural Engine ever, the power-efficient performance and capabilities of the M4 family extend its lead as the most advanced lineup of chips in the industry.”
M4: Phenomenal Performance and New Capabilities
For entrepreneurs, students, creators, and more, the phenomenal performance of M4 comes to Mac for the first time. M4 features an up to 10-core CPU, with four performance cores and up to six efficiency cores. It’s up to 1.8x faster than M1, so multitasking across apps like Safari and Excel is lightning fast. A 10-core GPU provides incredible graphics performance, up to 2x faster than M1, making everything from editing photos to AAA gameplay exceptionally fast and smooth. And the faster 16-core Neural Engine is great for Apple Intelligence features like Writing Tools and other AI workloads.
M4 supports up to 32GB of unified memory and has higher memory bandwidth of 120GB/s. The display engine of the M4 family is enhanced to support two external displays in addition to a built-in display. And M4 now supports up to four Thunderbolt 4 ports, providing fast data transfer speeds and even more flexibility across peripherals.
M4 Pro: Far More Powerful and Capable than Any AI PC Chip
M4 Pro takes the advanced technologies debuted in M4 and scales them up for researchers, developers, engineers, creative pros, and other users with more demanding workflows. M4 Pro features an up to 14-core CPU consisting of up to 10 performance cores and four efficiency cores. It’s up to 1.9x faster than the CPU of M1 Pro, and up to 2.1x faster than the latest AI PC chip.2 The GPU features up to 20 cores for graphics performance that is 2x that of M4, and up to 2.4x faster than the latest AI PC chip.2 This huge boost in performance makes building and testing apps across multiple simulators in Xcode quicker than ever. And with the improved hardware-accelerated ray-tracing engine in the M4 family GPU, games like Control look more compelling, and pro 3D renderers can produce stunning imagery in even less time.
M4 Pro supports up to 64GB of fast unified memory and 273GB/s of memory bandwidth, which is a massive 75 percent increase over M3 Pro and 2x the bandwidth of any AI PC chip.3 This, combined with the faster Neural Engine of the M4 family, means on-device Apple Intelligence models run at blazing speed. M4 Pro also supports Thunderbolt 5 on Mac, delivering up to 120Gb/s data transfer speeds, which more than doubles the throughput of Thunderbolt 4. For professionals working on larger file sizes across AI, video, code bases, and more, M4 Pro offers stunning performance and Apple silicon’s legendary power efficiency.
M4 Max: The Most Powerful Chip for a Pro Laptop
M4 Max is the ultimate choice for data scientists, 3D artists, and composers who push pro workflows to the limit. It has an up to 16-core CPU, with up to 12 performance cores and four efficiency cores. It’s up to 2.2x faster than the CPU in M1 Max and up to 2.5x faster than the latest AI PC chip.2 The GPU has up to 40 cores for performance that is up to 1.9x faster than M1 Max and up to an astounding 4x faster than the latest AI PC chip.2 So heavy workloads like de-noising raw video footage in DaVinci Resolve Studio can now run in real time.
M4 Max supports up to 128GB of fast unified memory and up to 546GB/s of memory bandwidth, which is 4x the bandwidth of the latest AI PC chip.3 This allows developers to easily interact with large language models that have nearly 200 billion parameters. The enhanced Media Engine of M4 Max includes two video encode engines and two ProRes accelerators, making it the ultimate choice for video professionals. And like M4 Pro, M4 Max also supports Thunderbolt 5 with up to 120Gb/s data transfer capability. M4 Max rips through the most challenging pro workloads and, thanks to the energy efficiency of Apple silicon, delivers exceptional battery life in a laptop.
Apple Silicon Powers Apple Intelligence
M4, M4 Pro, and M4 Max are built for Apple Intelligence.4 Ushering in a new era for the Mac, Apple Intelligence brings personal intelligence to the personal computer. Combining powerful generative models with industry-first privacy protections, Apple Intelligence harnesses the power of Apple silicon and the Neural Engine to unlock new ways for users to work, communicate, and express themselves on Mac. It is available in U.S. English with macOS Sequoia 15.1. With systemwide Writing Tools, users can refine their words by rewriting, proofreading, and summarizing text nearly everywhere they write. With the newly redesigned Siri, users can move fluidly between spoken and typed requests to accelerate tasks throughout their day, and Siri can answer thousands of questions about Mac and other Apple products. New Apple Intelligence features will be available in December, with additional capabilities rolling out in the coming months. Image Playground gives users a new way to create fun original images, and Genmoji allows them to create custom emoji in seconds. Siri will become even more capable, with the ability to take actions across the system and draw on a user’s personal context to deliver intelligence that is tailored to them. In December, ChatGPT will be integrated into Siri and Writing Tools, allowing users to access its expertise without needing to jump between tools.
Apple Intelligence does all this while protecting users’ privacy at every step. At its core is on-device processing, and for more complex tasks, Private Cloud Compute gives users access to Apple’s even larger, server-based models and offers groundbreaking protections for personal information. In addition, users can access ChatGPT for free without creating an account, and privacy protections are built in — their IP addresses are obscured and OpenAI won’t store requests. For those who choose to connect their account, OpenAI’s data-use policies apply.
Better for the Environment
The power-efficient performance of M4, M4 Pro, and M4 Max helps the all-new MacBook Pro lineup meet Apple’s high standards for energy efficiency and deliver up to 24 hours of battery life.5 This results in less time needing to be plugged in and less energy consumed over its lifetime. And for desktop systems like iMac and Mac mini, the energy efficiency of Apple silicon also reduces the total amount of energy used. Today, Apple is carbon neutral for global corporate operations and, as part of its ambitious Apple 2030 goal, plans to be carbon neutral across its entire carbon footprint by the end of this decade.
About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.
Press Contacts
Todd Wilder
Apple
Apple Media Helpline
Source: Apple
Headline: New MacBook Pro features M4 family of chips and Apple Intelligence
October 30, 2024
PRESS RELEASE
Apple’s new MacBook Pro features the incredibly powerful M4 family of chips and ushers in a new era with Apple Intelligence
With an advanced 12MP Center Stage camera, Thunderbolt 5 on M4 Pro and M4 Max models, and an all-new nano-texture display option, MacBook Pro gets even more capable and even more pro
CUPERTINO, CALIFORNIA Apple today unveiled the new MacBook Pro, powered by the M4 family of chips — M4, M4 Pro, and M4 Max — delivering much faster performance and enhanced capabilities. The new MacBook Pro is built for Apple Intelligence, the personal intelligence system that transforms how users work, communicate, and express themselves, while protecting their privacy. Now available in space black and silver finishes, the 14-inch MacBook Pro includes the blazing-fast performance of M4 and three Thunderbolt 4 ports, starting with 16GB of memory, all at just $1,599. The 14- and 16-inch models with M4 Pro and M4 Max offer Thunderbolt 5 for faster transfer speeds and advanced connectivity. All models include a Liquid Retina XDR display that gets even better with an all-new nano-texture display option and up to 1000 nits of brightness for SDR content, an advanced 12MP Center Stage camera, along with up to 24 hours of battery life, the longest ever in a Mac.1 The new MacBook Pro is available to pre-order today, with availability beginning November 8.
“MacBook Pro is an incredibly powerful tool that millions of people use to do their life’s best work, and today we’re making it even better,” said John Ternus, Apple’s senior vice president of Hardware Engineering. “With the powerful M4 family of chips, and packed with pro features like Thunderbolt 5, an advanced 12MP Center Stage camera, an all-new nano-texture display option, and Apple Intelligence, the new MacBook Pro continues to be, by far, the world’s best pro laptop.”
Supercharged by the M4 Family of Chips
Built using second-generation 3-nanometer technology, the M4 family is the most advanced lineup of chips for a personal computer. The M4 family features phenomenal single-threaded CPU performance with the world’s fastest CPU core,2 along with outstanding multithreaded CPU performance for the most demanding workloads. Combined with machine learning accelerators in the CPU, an advanced GPU, and a faster and more efficient Neural Engine, Apple silicon is built from the ground up to deliver incredible performance for AI. Together with faster unified memory, each chip also includes increased memory bandwidth, so large language models (LLMs) and other large projects run smoothly and on device. Additionally, the industry-leading performance per watt of the M4 family means that users get up to 24 hours of battery life, raising the bar of what users can do on a single charge.
New 14-inch MacBook Pro with M4
The 14-inch MacBook Pro with M4 is the ideal choice for entrepreneurs, students, creators, or anyone doing what they love. Featuring a more powerful 10-core CPU, with four performance cores and six efficiency cores, and a faster 10-core GPU with Apple’s most advanced graphics architecture, the new MacBook Pro starts with 16GB of faster unified memory with support for up to 32GB, along with 120GB/s of memory bandwidth. With M4, MacBook Pro is up to 1.8x faster than the 13-inch MacBook Pro with M1 for tasks like editing gigapixel photos, and even more demanding workloads like rendering complex scenes in Blender are up to 3.4x faster.1 With a Neural Engine that’s over 3x more powerful than in M1, it’s great for features in Apple Intelligence and other AI workloads. The M4 model also supports two high-resolution external displays in addition to the built-in display, and now features three Thunderbolt 4 ports so users can connect all their peripherals.
MacBook Pro with M4 delivers:1
MacBook Pro with M4 Pro: A Pro Powerhouse
For researchers, developers, engineers, creative pros, or anyone that needs even faster performance for more demanding workflows, MacBook Pro with M4 Pro offers a tremendous performance boost. M4 Pro features a powerful 14-core CPU with 10 performance cores and four efficiency cores for a jump in multicore performance, along with up to a 20-core GPU that is twice as powerful as M4. With M4 Pro, the new MacBook Pro gets a massive 75 percent increase in memory bandwidth over the prior generation — double that of any AI PC chip.3 The new MacBook Pro with M4 Pro is up to 3x faster than models with M1 Pro, speeding up workflows like geo mapping, structural engineering, and data modeling.1
MacBook Pro with M4 Pro offers:1
MacBook Pro with M4 Max: The Ultimate in Pro Performance
Designed for pros like data scientists, 3D artists, and composers who constantly push workflows to the limit, MacBook Pro with M4 Max empowers users to work on projects that were previously only imaginable on a desktop. M4 Max brings up to a 16-core CPU, up to a 40-core GPU, over half a terabyte per second of unified memory bandwidth, and a Neural Engine that is over 3x faster than M1 Max, allowing on-device AI models to run faster than ever. With M4 Max, MacBook Pro delivers up to 3.5x the performance of M1 Max, ripping through heavy creative workloads like visual effects, 3D animation, and film scoring.1 It also supports up to 128GB of unified memory, so developers can easily interact with LLMs that have nearly 200 billion parameters. And with the powerful Media Engine in M4 Max, which features two ProRes accelerators, MacBook Pro performance is amazing even when taking 4K120 fps ProRes video captured with the new iPhone 16 Pro and editing it in Final Cut Pro.
MacBook Pro with M4 Max enables:1
Industry-Leading Liquid XDR Display Gets Even Better
The new MacBook Pro introduces an all-new nano-texture display option that dramatically reduces glare and distractions from reflections. In bright lighting conditions, the new MacBook Pro can now show SDR content at up to 1000 nits and still displays HDR content at up to 1600 nits of peak brightness. All together, it’s a game-changing experience for users working outdoors.
New 12MP Center Stage Camera
MacBook Pro includes a new 12MP Center Stage camera that delivers enhanced video quality in challenging lighting conditions. Video calls are even more engaging with Center Stage, which automatically keeps users centered in the frame as they move around. The new camera also supports Desk View, which adds a whole new dimension to video calls. And with studio-quality mics and a phenomenal six-speaker sound system with support for Spatial Audio, MacBook Pro delivers an incredibly immersive audio experience whether users are listening to music or watching a movie in Dolby Atmos.
Thunderbolt 5 Comes to the Mac
MacBook Pro with M4 Pro and M4 Max features Thunderbolt 5 ports that more than double transfer speeds up to 120 Gb/s, enabling faster external storage, expansion chassis, and powerful docking and hub solutions. For example, by connecting just a single cable, pros like music producers can now light up their entire studio. All MacBook Pro models feature an HDMI port that supports up to 8K resolution, a SDXC card slot, a MagSafe 3 port for charging, and a headphone jack, along with support for Wi-Fi 6E and Bluetooth 5.3.
A New Era with Apple Intelligence on the Mac
Apple Intelligence ushers in a new era for the Mac, bringing personal intelligence to the personal computer. Combining powerful generative models with industry-first privacy protections, Apple Intelligence harnesses the power of Apple silicon and the Neural Engine to unlock new ways for users to work, communicate, and express themselves on Mac. It is available in U.S. English with macOS Sequoia 15.1. With systemwide Writing Tools, users can refine their words by rewriting, proofreading, and summarizing text nearly everywhere they write. With the newly redesigned Siri, users can move fluidly between spoken and typed requests to accelerate tasks throughout their day, and Siri can answer thousands of questions about Mac and other Apple products. New Apple Intelligence features will be available in December, with additional capabilities rolling out in the coming months. Image Playground gives users a new way to create fun original images, and Genmoji allows them to create custom emoji in seconds. Siri will become even more capable, with the ability to take actions across the system and draw on a user’s personal context to deliver intelligence that is tailored to them. In December, ChatGPT will be integrated into Siri and Writing Tools, allowing users to access its expertise without needing to jump between tools.
Apple Intelligence does all this while protecting users’ privacy at every step. At its core is on-device processing, and for more complex tasks, Private Cloud Compute gives users access to Apple’s even larger, server-based models and offers groundbreaking protections for personal information. In addition, users can access ChatGPT for free without creating an account, and privacy protections are built in — their IP addresses are obscured and OpenAI won’t store requests. For those who choose to connect their account, OpenAI’s data-use policies apply.
An Unrivaled Experience with macOS Sequoia
macOS Sequoia completes the new MacBook Pro experience with a host of exciting features, including iPhone Mirroring, allowing users to wirelessly interact with their iPhone, its apps, and notifications directly from their Mac.4 Safari, the world’s fastest browser,5 now offers Highlights, which quickly pulls up relevant information from a site; a smarter, redesigned Reader with a table of contents and high-level summary; and a new Video Viewer to watch videos without distractions. With Distraction Control, users can hide items on a webpage that they may find disruptive to their browsing. Gaming gets even more immersive with features like Personalized Spatial Audio and improvements to Game Mode, along with a breadth of exciting titles, including the upcoming Assassin’s Creed Shadows. Easier window tiling means users can stay organized with a windows layout that works best for them. The all-new Passwords app gives convenient access to passwords, passkeys, and other credentials, all stored in one place. And users can apply new beautiful built-in backgrounds for video calls, which include a variety of color gradients and system wallpapers, or upload their own photos.
The Perfect Time to Upgrade or Switch to a Mac
Upgraders will get monumental improvements over Intel-based MacBook Pro models, including the amazing features of Apple Intelligence. When compared to an Intel-based MacBook Pro, the new MacBook Pro provides nearly 10x faster performance for AI-based workloads,1 and for graphics-intensive workloads, users get up to 20x faster performance.6 With battery life on the new MacBook Pro now up to 24 hours, upgraders will also experience up to 14 additional hours. And with the Liquid Retina XDR display, a new 12MP Center Stage camera, an immersive six-speaker sound system, the unrivaled experience of macOS Sequoia, and more, there’s never been a better time to upgrade or switch to MacBook Pro.
MacBook Air: The World’s Most Popular Laptop Now Starts at 16GB
MacBook Air is the world’s most popular laptop, and with Apple Intelligence, it’s even better. Now, models with M2 and M3 double the starting memory to 16GB, while keeping the starting price at just $999 — a terrific value for the world’s best-selling laptop.
Better for the Environment
The new MacBook Pro is built to last and incredibly durable, created from a custom alloy that uses 100 percent recycled aluminum in the enclosure. It also uses 100 percent recycled rare earth elements in all magnets, and 100 percent recycled tin soldering, gold plating, and copper in multiple printed circuit boards. The packaging for the 14-inch MacBook Pro is now entirely fiber-based, joining the 16-inch MacBook Pro and bringing Apple closer to its goal to remove plastic from its packaging by 2025.
Today, Apple is carbon neutral for global corporate operations and, as part of its ambitious Apple 2030 goal, plans to be carbon neutral across its entire carbon footprint by the end of this decade.
Pricing and Availability
About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.
Press Contacts
Michelle Del Rio
Apple
Starlayne Meza
Apple
Apple Media Helpline
Source: The Conversation – UK – By Simon Mabon, Professor of International Relations, Lancaster University
Donald Trump’s rally at Madison Square Gardens in New York City on Sunday, October 27 was called a “carnival of grievances, misogyny and racism” by the New York Times. The event, which came just over a week before the election, was a hostile and partisan affair. Trump doubled down on his assertion that one of America’s gravest threats is from “the enemy within”.
Trump’s rhetoric is a manifestation of the increasingly polarised nature of US politics, whereby hostility from one group towards their perceived enemies is amplified across social media platforms. Yet Trump’s comment about an insidious “threat” hints at a darker undercurrent of division, with the threat of violence.
A June 2024 poll by the University of Chicago suggested that there was more support for violence against Trump than in his favour – 10% of respondents agreed that “the use of force is justified to prevent Trump becoming president”, compared to 6.9% who believed violence was justified “to restore Trump to the presidency”. Two months earlier, a Marist poll revealed that 47% of Americans believed that another civil war was likely in their lifetime.
As a report from Chatham House recently observed, the US is more divided “along ideological and political lines than at any time since the 1850s”. And according to another report from UK-based think tank, the Foreign Policy Centre, Americans have “increasingly grown to hate supporters of the other party, viewing their capture of political power as not merely unfortunate but illegitimate”.
Americans have regularly articulated a preference for living among people who share their political outlook. And they have expressed a stronger aversion to dating, living, working or socialising with supporters of another party. These views point to a state suffering the ills of sectarianism.
Those who have observed sectarianism around the world know all too well the chaos that such divisions can wreak. In the Middle East, for example, politically charged religious difference has had a devastating impact on political, economic and social life. Hundreds of thousands have been killed and millions displaced from their homes across Syria, Iraq, Yemen, Lebanon, Bahrain, Saudi Arabia, Iran and Libya because of violence along sect-based lines.
The US may be a long way from these scenarios, but there are some early warning signs. Competing forms of what American social theorist Irving Howe calls “epistemological authoritarianism” – or a sense of certainty that is zero-sum and rejects those of the other – can be easily seen across America’s political landscape.
Protests and counter-protests have played out both on the streets and online over abortion, gun laws and LGBTQ+ rights, as well as on university campuses over the war in Gaza. Elite entrepreneurs with political capital have also positioned themselves on opposite sides of sensitive issues to cultivate support.
Take, for example, Donald Trump’s false allegations that Democratic states executed babies after birth, or that migrants in Springfield, Ohio, have been eating pets. Such comments quickly spread across social media, regardless of their veracity. For Trump’s followers, truth matters less than the ability to justify their position on a particular issue. The stance taken by political communities is increasingly polemic and predictable.
Such dynamics are, of course, also shaped by local contexts. But the growing politicisation of social identities in recent years, and the increasing political importance of social issues, has created a landscape where difference is broadly antagonistic.
In this situation, grievance becomes a means of reinforcing in-group cohesion and disdain for the other. In such a landscape, society becomes divided into mutually distrustful camps set apart by a form of emotional polarisation that takes on political meaning.
It is the emotional dimension that is key here, as this is the foundation upon which political and social enmity is built. Supreme Court decisions, for example, relating to emotionally charged issues such as abortion, have strong mobilising potential on both left and right.
Elections often exacerbate uncertainty and division, as the 2020 US presidential election and its fallout demonstrate. According to Armed Conflict Location & Event Data (Acled), a research group that analyses occurrences of political violence around the world, demonstrations and far-right activity peaked around the 2020 election. This reached a crescendo with the events of January 6 2021 when Trump supporters stormed the US Capitol building.
Far-right activity has dropped during Biden’s administration. But a number of far-right groups have recently become active in the run-up to the election. Meanwhile, divisions over abortion, LGBTQ+ mobilisation, and the war in Gaza have contributed to a precarious environment.
Indeed, a vast majority do not think that next week’s election will solve the issues that America faces. In a recent poll, 70% of respondents believe that things in the US are going “in the wrong direction” – a view shared more by Republican respondents (94%) than Democrat respondents (41%). And 19% of Republicans think that if Trump loses the election, he should declare the results invalid and do whatever it takes to assume office.
The schisms across the US are real and the pieces are not easily put back together. Narratives of division will continue to spread as election fever increases, further deepening the rifts in American society. And sectarianism will become the broad frame through which political and social life is viewed.
This need not necessarily become violent. But it can easily become entrenched. The increasingly hostile exclusion of “the other” in all its forms, along with a growing willingness to breach established norms and rules, requires a step back from the brink before it is too late.
Simon Mabon receives funding from Carnegie Corporation of New York. He is a Senior Research Fellow at the Foreign Policy Centre in London.
– ref. Political sectarianism is fracturing America – https://theconversation.com/political-sectarianism-is-fracturing-america-242327
Source: United Kingdom – Executive Government & Departments
Explanation of vote by Ambassador Barbara Woodward, UK Permanent Representative to the UN, at the UN Security Council meeting on Somalia.
Today’s vote marks the beginning of a crucial period for Somalia, the UN, and Somalia’s international partners, as we move into a series of transitions – both of the UN’s political presence in Somalia and, beginning next year, the AU mission.
UNSOM has played an important role since its inception in 2013, supporting peace-building and state-building in Somalia through implementing its good offices, policy guidance, coordination, technical assistance and capacity building functions.
We are grateful for the significant efforts of UNSOM’s leadership and staff throughout the 11 years since its establishment.
As UNTMIS now takes over, and begins its transition to a UN Country Team, the United Kingdom will continue to work closely with all relevant stakeholders to ensure this transition is progressive and phased, and that UNTMIS continues to deliver against the areas critical to Somalia’s needs during this first phase.
We now look ahead to elections over the coming years at both the Federal Member State and national levels, as well as significant changes in the AU security presence. The UN will continue to play a vital role throughout these processes.
Finally President, let me take this opportunity to thank Acting SRSG Swan for his leadership and commitment. I would also like to thank all colleagues on the Council for their constructive engagement on this resolution.
Source: GlobeNewswire (MIL-OSI)
JOHANNESBURG, South Africa, Oct. 29, 2024 (GLOBE NEWSWIRE) — UPAY Inc. (“UPAY” or the “Company”) (OTCQB: UPYY), through its South African subsidiary, AML GO (Pty) Ltd, is excited to announce the official launch of the AML GO Anti-Money Laundering (AML) online system. The launch will take place at the prestigious Consumer Credit Conference on 30 and 31 October 2024, hosted at the Indaba Hotel in Fourways, Johannesburg.
AML GO’s cutting-edge online platform is designed to provide financial institutions, credit providers, and businesses with powerful tools for AML compliance in today’s dynamically digital world. With a focus on retail credit risk management and regulatory compliance, the system offers a robust solution for identifying, assessing, and mitigating the risks associated with money laundering and related financial crimes.
Key Features of the AML GO System:
About AML GO (Pty) Ltd:
AML GO is your trusted partner for cutting-edge Anti-Money Laundering (AML) and credit risk solutions. Our streamlined Client Onboarding Platform offers seamless access to AML, Politically Exposed Persons (PEP), and sanctions screening, along with risk rating assessments, bank account verification, and bank statement verification. In addition, we provide comprehensive credit risk assessment, identity verification, affordability calculations, and proof of address confirmation. AML GO ensures that your organization stays compliant with the Financial Intelligence Centre Act (FICA) while optimizing operations for enhanced efficiency and reduced risk.
Jaco Fölscher, CEO of UPAY Inc., shared his enthusiasm for the system’s launch: “The introduction of the AML GO online platform marks a pivotal moment for UPAY and AML GO. We are thrilled to offer this innovative solution at such a critical time for the consumer credit industry. As financial institutions face growing regulatory pressures, AML GO provides the technology needed to enhance compliance and safeguard against financial crimes.”
About the Consumer Credit Conference 2024:
The Consumer Credit Conference is a key industry event that brings together professionals in retail credit, unsecured lending, and risk management to explore strategies for managing credit risks in an increasingly digital world. The conference will cover topics such as credit scoring models, digital lending platforms, risk management strategies, and regulatory compliance. AML GO’s launch at this event highlights the importance of integrating cutting-edge technology in addressing compliance challenges in today’s financial landscape.
Attendees of the conference will have the opportunity to see the AML GO platform in action and engage in interactive sessions to understand how it addresses their specific compliance needs.
Mia-Daniel Bester COO of AML GO (Pty) Ltd, commented: “AML GO is proud to be launching at the Consumer Credit Conference. Our platform not only addresses the current compliance challenges but also looks ahead to the future of AML management, ensuring businesses stay ahead in the face of evolving regulations.”
The launch of the AML GO system reinforces UPAY’s commitment to providing innovative solutions that empower financial institutions in South Africa and beyond. The company continues to set the standard in compliance and risk management technology, driving both innovation and regulatory excellence.
For more information about AML GO and its new anti-money laundering online system, please visit www.amlgo.co.za
CONTACT INFORMATION
UPAY Inc.
Email: info@upaytechnology.com
About UPAY Inc.:
UPAY Inc. is a forward-thinking US public company dedicated to delivering cutting-edge financial solutions across the fintech sector. With a strong focus on innovation, UPAY remains a leader in AML compliance technology and financial risk management.
About AML GO (Pty) Ltd:
AML GO is a South African subsidiary of UPAY Inc., specializing in providing anti-money laundering compliance and credit risk solutions for financial institutions. The company’s mission is to empower businesses to meet stringent regulatory requirements through innovative, user-centric technology.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of UPAY Inc. This publication contains forward-looking statements, which are not guarantees of future performance. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
Source: Scotland – Highland Council
An inspiring 116-strong group of shortlisted talent performing and working across Scotland’s vibrant traditional music scene have today been unveiled as nominees for the 22nd MG ALBA Scots Trad Music Awards.
Musicians, bands, organisations, teachers, venues, events and individuals involved in the creation and development of Scottish’s homegrown music are shortlisted across 22 categories.
The public has until Sunday 10th November to vote for their favourites at www.scotstradmusicawards.com. The winners will be announced at a star-studded award ceremony at Inverness Leisure on Saturday 30th November when the event returns to the Highland capital for the first time in 10 years.
The single most important awards ceremony for folk and trad musicians, bands and artists, the MG ALBA Scots Trad Music Awards are organised by Hands Up For Trad – an organisation which stands at the forefront of Scotland’s cultural landscape, promoting traditional music and culture through their talent development, education and advocacy work.
The gold standard for industry achievement, the awards night will fittingly be held on St. Andrew’s Day and seeks to celebrate stand-out talent from all corners of the country working across a range of genres and styles to create and promote Scotland’s trad music scene over the last 12 months.
The nominees are:
Album of the Year, sponsored by Birnam CD
Citty Finlayson Scots Singer of the Year, sponsored by Traditional Music and Song Association of Scotland
Club of the Year
Community Project of the Year, sponsored by Traditional Arts and Culture Scotland
Composer of the Year, sponsored by PRS for Music
Event of the Year, sponsored by VisitScotland
Gaelic Singer of the Year, sponsored by Highland Society of London
Live Act of the Year
Music Tutor of the Year, sponsored by Creative Scotland Youth Music Initiative
Musician of the Year, sponsored by University of the Highlands and Islands
Original Work of the Year, sponsored Musicians’ Union
Scottish Dance Band of the Year, sponsored by National Association of Accordion and Fiddle Clubs
Scottish Folk Band of the Year, sponsored by Threads of Sound
Scottish Pipe Band of the Year, sponsored by National Piping Centre
Trad Music in the Media, sponsored by Glasgow Caledonian University
Up and Coming Artist of the Year, sponsored by Royal Conservatoire of Scotland
Venue of the Year
A number of special prizes will also be awarded on the night, selected by a panel of esteemed industry judges, for services to traditional music and culture.
Legendary Skye band Niteworks will receive the Services to Gaelic Award, sponsored by Bòrd na Gàidhlig; beloved musician Christine Martin will be presented with The Hamish Henderson Services to Traditional Music Award, while celebrated poet Rab Wilson will receive The Janet Paisley Services to Scots Language Award, supported by The National Lottery through Creative Scotland.
This year’s event also welcomes the introduction of a new award, The Gaisgeach na Gàidhealtachd, which means Hero of the Highlands. This award will recognise a notable local organisation or figure who has made an invaluable contribution to Highland cultural life and the winner will be named on the night.
A number of stalwarts of the scene who have dedicated their lives to the development of music in Scotland are each year added to the Scottish Traditional Music Hall of Fame, sponsored by Fèisean nan Gàidheal and will be honoured in a special reception on the night.
A raft of industry awards will also recognise individuals and organisations which support the creative pipeline of the sector. Those finalists are:
Industry Person of the Year
Production Company of the Year
Recording Studio of the Year
Sound Engineer of the Year
Stage Technician of the Year
As well as all category sponsors and the event’s headline sponsor, this year’s MG ALBA Scots Trad Music Awards, the ceremony’s return to the Highlands is made possible with funding and support from Creative Scotland, Inverness Common Good Fund, Highland Council via the UK Shared Prosperity Fund and Scottish Government.
Scots Trad Music Awards organiser Simon Thoumire said: “Scotland’s traditional music scene is bursting at the seams with exceptional talent and it’s incredibly important we take time to recognise the achievements and progress over the last year. From some of the most exciting young new bands, to legends of the industry we will be tipping our hats to the best of the best in Inverness this November. Voting is now open and it’s over to the public to decide who they would like to see honoured on the night. We’re proud that this event has become synonymous with excellence in Scottish music and incredibly grateful to all those who make its staging possible.”
Siobhan Anderson, Music Officer at Creative Scotland said: ““Congratulations to all the nominees. Now public voting is open, it’s a fantastic chance for people to celebrate and honour all their favourite artists, recordings, organisations, projects and contributors to this vibrant sector. The list of nominees reflects the vast array of talent across the genre and all the people who contribute towards sustaining traditions and creating innovative work.”
Margaret Cameron, Director of Content at MG ALBA, said: “Now in its 22nd year, it’s incredible to see how the event continues to flourish, showcasing the very best of Scots Trad music. This year’s nominations of the MG ALBA Scots Trad Awards once again highlight the remarkable talent within the scene, reflecting the vibrancy and depth of Scotland’s musical heritage. We’re thrilled to bring the awards to the fantastic Inverness Leisure Centre on St. Andrew’s Day, and MG ALBA is proud to support the event and broadcast the celebration live on BBC ALBA, ensuring audiences across the country can join the party.”
An outstanding lineup of talent is set to take to the stage over the course of the evening, including the Hebridean-born and Highland-based singer and musician Julie Fowlis, whose award-winning talent is recognised the world over; Skipinnish who round off their 25th anniversary year in a fitting fashion’ BBC Young Traditional Musician of the Year 2024 Calum McIlroy; party-starters An Dannsa Dub; the inimitable duo of Laura Wilkie and Ian Carr; Aberdeenshire folk star Ellie Beaton; and young local talent in the form of Highland Young Musicians and Arc Fiddlers.
The MG ALBA Scots Trad Music Awards will take place at Inverness Leisure Centre on St. Andrew’s Day, Saturday 30th November 2024. The awards will be broadcast on BBC ALBA from 9pm.
Voting opens today and closes on Sunday 10th November. Votes can be cast at www.scotstradmusicawards.com. Tickets for the event are on sale now at https://tickets.highlifehighland.com/events/highlifehighland/1374627.
Source: GlobeNewswire (MIL-OSI)
2024 Third Quarter Revenue of $472.1 Million, up 14.9% year-over-year
Q3 Diluted EPS (GAAP) of $0.33, up 24.2% from $0.26 in Q3 of 2023
Q3 Adjusted Diluted EPS (Non-GAAP) (1)of $0.44, up 16.3% from $0.37 in Q3 of 2023
NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) — ExlService Holdings, Inc. (Nasdaq: EXLS), a leading data analytics and digital operations and solutions company, today announced its financial results for the quarter ended September 30, 2024.
Rohit Kapoor, chairman and chief executive officer, said, “We are pleased with our third quarter results. We delivered revenue and adjusted diluted EPS growth of 15% and 16% respectively. The ongoing execution of our data and AI-led strategy enabled us to accelerate our growth, achieving double-digit growth across both our data analytics and digital operations and solutions businesses during the quarter. As we continue to expand our data modernization and AI solution set with innovations such as industry-specific large language models (LLMs), we are well positioned to continue our momentum into the fourth quarter and beyond.”
Maurizio Nicolelli, chief financial officer, said, “Based on our strong year-to-date performance and current visibility for the remainder of the year, we are raising the full-year guidance range for revenue and EPS. We now expect revenue to be in the range of $1.825 billion to $1.835 billion, up from our prior guidance of $1.805 billion to $1.830 billion. This represents 12% to 13% year-over-year growth on a reported currency basis and approximately 12% on a constant currency basis. We now expect our adjusted diluted earnings per share for 2024 to be in the range of $1.61 to $1.63, up from our prior guidance of $1.59 to $1.62, representing growth of 13% to 14% over the prior year.”
__________________________________________________________
(1) Reconciliations of adjusted (non-GAAP) financial measures to the most directly comparable GAAP measures, where applicable, are included at the end of this release under “Reconciliation of Adjusted Financial Measures to GAAP Measures.” These non-GAAP measures, including adjusted diluted EPS and constant currency measures, are not measures of financial performance prepared in accordance with GAAP.
Financial Highlights: Third Quarter 2024
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| (dollars in millions) | ||||||||||||||||||||||||
| Insurance | $ | 157.6 | $ | 136.4 | $ | 149.3 | 36.3 | % | 36.6 | % | 36.0 | % | ||||||||||||
| Healthcare | 30.5 | 26.2 | 28.1 | 33.6 | % | 36.8 | % | 33.1 | % | |||||||||||||||
| Emerging Business | 80.0 | 65.3 | 77.2 | 40.2 | % | 42.4 | % | 41.6 | % | |||||||||||||||
| Analytics | 204.0 | 183.1 | 193.8 | 38.5 | % | 37.0 | % | 36.7 | % | |||||||||||||||
| Revenues, net | $ | 472.1 | $ | 411.0 | $ | 448.4 | 37.8 | % | 37.7 | % | 37.1 | % | ||||||||||||
Business Highlights: Third Quarter 2024
2024 Guidance
Based on current visibility, and a U.S. dollar to Indian rupee exchange rate of 84.0, U.K. pound sterling to U.S. dollar exchange rate of 1.30, U.S. dollar to the Philippine peso exchange rate of 58.0 and all other currencies at current exchange rates, we are providing the following guidance for the full year 2024:
Conference Call
ExlService Holdings, Inc. will host a conference call on Wednesday, Oct. 30, 2024, at 10:00 A.M. ET to discuss the company’s quarterly operating and financial results. The conference call will be available live via the internet by accessing the investor relations section of EXL’s website at ir.exlservice.com, where an accompanying investor-friendly spreadsheet of historical operating and financial data can also be accessed. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.
Please note that there is a new system to access the live call-in order to ask questions. To join the live call, please register here. For those who cannot access the live broadcast, a replay will be available on the EXL website ir.exlservice.com for a period of approximately twelve months.
About ExlService Holdings, Inc.
EXL (Nasdaq: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 57,000 employees spanning six continents. For more information, visit www.exlservice.com.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation, recessionary economic trends, and ability to successfully integrate strategic acquisitions, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
| EXLSERVICE HOLDINGS, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (In thousands, except per share amount and share count) |
|||||||||||||||
| Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenues, net | $ | 472,073 | $ | 410,971 | $ | 1,356,946 | $ | 1,216,610 | |||||||
| Cost of revenues(1) | 293,806 | 256,002 | 849,336 | 760,691 | |||||||||||
| Gross profit(1) | 178,267 | 154,969 | 507,610 | 455,919 | |||||||||||
| Operating expenses: | |||||||||||||||
| General and administrative expenses | 57,495 | 52,213 | 167,195 | 144,564 | |||||||||||
| Selling and marketing expenses | 37,568 | 30,943 | 108,982 | 88,674 | |||||||||||
| Depreciation and amortization expense | 13,799 | 11,583 | 39,055 | 38,192 | |||||||||||
| Total operating expenses | 108,862 | 94,739 | 315,232 | 271,430 | |||||||||||
| Income from operations | 69,405 | 60,230 | 192,378 | 184,489 | |||||||||||
| Foreign exchange gain, net | 278 | 409 | 673 | 838 | |||||||||||
| Interest expense | (5,526 | ) | (3,405 | ) | (14,145 | ) | (10,030 | ) | |||||||
| Other income, net | 4,374 | 778 | 11,876 | 6,594 | |||||||||||
| Income before income tax expense and earnings from equity affiliates | 68,531 | 58,012 | 190,782 | 181,891 | |||||||||||
| Income tax expense | 15,460 | 14,161 | 43,086 | 37,773 | |||||||||||
| Income before earnings from equity affiliates | 53,071 | 43,851 | 147,696 | 144,118 | |||||||||||
| Gain/(loss) from equity-method investment | (34 | ) | 25 | (71 | ) | 157 | |||||||||
| Net income | $ | 53,037 | $ | 43,876 | $ | 147,625 | $ | 144,275 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 0.33 | $ | 0.26 | $ | 0.90 | $ | 0.87 | |||||||
| Diluted | $ | 0.33 | $ | 0.26 | $ | 0.90 | $ | 0.86 | |||||||
| Weighted average number of shares used in computing earnings per share: | |||||||||||||||
| Basic | 161,732,872 | 166,159,619 | 163,197,767 | 166,707,599 | |||||||||||
| Diluted | 163,187,733 | 167,688,374 | 164,620,081 | 168,591,612 | |||||||||||
(1) Exclusive of depreciation and amortization expense.
| EXLSERVICE HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands, except per share amount and share count) |
|||||||
| As of | |||||||
| September 30, 2024 | December 31, 2023 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 150,102 | $ | 136,953 | |||
| Short-term investments | 175,648 | 153,881 | |||||
| Restricted cash | 7,342 | 4,062 | |||||
| Accounts receivable, net | 340,904 | 308,108 | |||||
| Other current assets | 93,693 | 76,669 | |||||
| Total current assets | 767,689 | 679,673 | |||||
| Property and equipment, net | 107,395 | 100,373 | |||||
| Operating lease right-of-use assets | 71,796 | 64,856 | |||||
| Restricted cash | 5,820 | 4,386 | |||||
| Deferred tax assets, net | 106,881 | 82,927 | |||||
| Goodwill | 427,663 | 405,639 | |||||
| Other intangible assets, net | 51,291 | 50,164 | |||||
| Long-term investments | 14,184 | 4,430 | |||||
| Other assets | 57,113 | 49,524 | |||||
| Total assets | $ | 1,609,832 | $ | 1,441,972 | |||
| Liabilities and stockholders’ equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 4,082 | $ | 5,055 | |||
| Current portion of long-term borrowings | 4,891 | 65,000 | |||||
| Deferred revenue | 12,472 | 12,318 | |||||
| Accrued employee costs | 110,677 | 117,137 | |||||
| Accrued expenses and other current liabilities | 105,159 | 114,113 | |||||
| Current portion of operating lease liabilities | 16,904 | 12,780 | |||||
| Total current liabilities | 254,185 | 326,403 | |||||
| Long-term borrowings, less current portion | 339,828 | 135,000 | |||||
| Operating lease liabilities, less current portion | 62,336 | 58,175 | |||||
| Deferred tax liabilities, net | 3,245 | 1,495 | |||||
| Other non-current liabilities | 42,675 | 31,462 | |||||
| Total liabilities | 702,269 | 552,535 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Preferred stock, $0.001 par value; 15,000,000 shares authorized, none issued | — | — | |||||
| Common stock, $0.001 par value; 400,000,000 shares authorized, 205,317,002 shares issued and 160,880,592 shares outstanding as of September 30, 2024 and 203,410,038 shares issued and 165,277,880 shares outstanding as of December 31, 2023 | 205 | 203 | |||||
| Additional paid-in capital | 572,430 | 508,028 | |||||
| Retained earnings | 1,231,288 | 1,083,663 | |||||
| Accumulated other comprehensive loss | (122,593 | ) | (127,040 | ) | |||
| Total including shares held in treasury | 1,681,330 | 1,464,854 | |||||
| Less: 44,436,410 shares as of September 30, 2024 and 38,132,158 shares as of December 31, 2023, held in treasury, at cost | (773,767 | ) | (575,417 | ) | |||
| Total stockholders’ equity | 907,563 | 889,437 | |||||
| Total liabilities and stockholders’ equity | $ | 1,609,832 | $ | 1,441,972 | |||
EXLSERVICE HOLDINGS, INC.
Reconciliation of Adjusted Financial Measures to GAAP Measures
In addition to its reported operating results in accordance with U.S. generally accepted accounting principles (GAAP), EXL has included in this release certain financial measures that are considered non-GAAP financial measures, including the following:
These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles, should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. Accordingly, the financial results calculated in accordance with GAAP and reconciliations from those financial statements should be carefully evaluated. EXL believes that providing these non-GAAP financial measures may help investors better understand EXL’s underlying financial performance. Management also believes that these non-GAAP financial measures, when read in conjunction with EXL’s reported results, can provide useful supplemental information for investors analyzing period-to-period comparisons of the Company’s results and comparisons of the Company’s results with the results of other companies. Additionally, management considers some of these non-GAAP financial measures to determine variable compensation of its employees. The Company believes that it is unreasonably difficult to provide its earnings per share financial guidance in accordance with GAAP, or a qualitative reconciliation thereof, for a number of reasons, including, without limitation, the Company’s inability to predict its future stock-based compensation expense under ASC Topic 718, the amortization of intangibles associated with future acquisitions and the currency fluctuations and associated tax effects. As such, the Company presents guidance with respect to adjusted diluted earnings per share. The Company also incurs significant non-cash charges for depreciation that may not be indicative of the Company’s ability to generate cash flow.
EXL non-GAAP financial measures exclude, where applicable, stock-based compensation expense, amortization of acquisition-related intangible assets, restructuring costs, litigation settlement costs and associated legal fees, effects of termination of leases, certain defined social security contributions, allowance for certain material expected credit losses, other acquisition-related expenses or benefits and effect of any non-recurring tax adjustments. Acquisition-related expenses or benefits include, changes in the fair value of contingent consideration, external deal costs, integration expenses, direct and incremental travel costs and non-recurring benefits or losses. Our adjusted net income and adjusted diluted EPS also excludes the effects of income tax on the above pre-tax items, as applicable. The effects of income tax of each item is calculated by applying the statutory rate of the local tax regulations in the jurisdiction in which the item was incurred.
A limitation of using non-GAAP financial measures versus financial measures calculated in accordance with GAAP is that non-GAAP financial measures do not reflect all of the amounts associated with our operating results as determined in accordance with GAAP and exclude costs that are recurring, namely stock-based compensation and amortization of acquisition-related intangible assets. EXL compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP financial measures to allow investors to evaluate such non-GAAP financial measures.
EXL’s primary exchange rate exposure is with the Indian rupee, the Philippine peso, the U.K. pound sterling and the South African rand. The average exchange rate of the U.S. dollar against the Indian rupee increased from 82.69 during the quarter ended September 30, 2023 to 83.79 during the quarter ended September 30, 2024, representing a depreciation of 1.3% against the U.S. dollar. The average exchange rate of the U.S. dollar against the Philippine peso increased from 56.02 during the quarter ended September 30, 2023 to 56.84 during the quarter ended September 30, 2024, representing a depreciation of 1.5% against the U.S. dollar. The average exchange rate of the U.K. pound sterling against the U.S. dollar increased from 1.26 during the quarter ended September 30, 2023 to 1.31 during the quarter ended September 30, 2024, representing an appreciation of 4.4% against the U.S. dollar. The average exchange rate of the U.S. dollar against the South African rand decreased from 18.49 during the quarter ended September 30, 2023 to 17.74 during the quarter ended September 30, 2024, representing an appreciation of 4.1% against the U.S. dollar.
The following table shows the reconciliation of these non-GAAP financial measures for the three months ended September 30, 2024 and September 30, 2023, and the three months ended June 30, 2024:
| Reconciliation of Adjusted Operating Income and Adjusted EBITDA (Amounts in thousands) |
|||||||||||
| Three months ended | |||||||||||
| September 30, | June 30, | ||||||||||
| 2024 | 2023 | 2024 | |||||||||
| Net Income (GAAP) | $ | 53,037 | $ | 43,876 | $ | 45,825 | |||||
| add: Income tax expense | 15,460 | 14,161 | 13,873 | ||||||||
| add/(subtract): Foreign exchange gain, net, interest expense, gain/(loss) from equity-method investment and other income/(loss), net |
908 | 2,193 | 1,751 | ||||||||
| Income from operations (GAAP) | $ | 69,405 | $ | 60,230 | $ | 61,449 | |||||
| add: Stock-based compensation expense | 21,232 | 17,067 | 18,095 | ||||||||
| add: Amortization of acquisition-related intangibles | 3,449 | 3,157 | 3,077 | ||||||||
| add: Restructuring and litigation settlement costs (a) | — | — | 6,174 | ||||||||
| add: Allowance for expected credit losses (b) | — | 1,700 | — | ||||||||
| Adjusted operating income (Non-GAAP) | $ | 94,086 | $ | 82,154 | $ | 88,795 | |||||
| Adjusted operating income margin as a % of Revenue (Non-GAAP) | 19.9 | % | 20.0 | % | 19.8 | % | |||||
| add: Depreciation on long-lived assets | 10,350 | 8,426 | 9,833 | ||||||||
| Adjusted EBITDA (Non-GAAP) | $ | 104,436 | $ | 90,580 | $ | 98,628 | |||||
| Adjusted EBITDA margin as a % of revenue (Non-GAAP) | 22.1 | % | 22.0 | % | 22.0 | % | |||||
(a) To exclude effects of employee severance costs and outplacement support costs of $4,762 and litigation settlement costs and associated legal fees of $1,412 during the three months ended June 30, 2024.
(b) To exclude the effects of material allowance for expected credit losses on accounts receivables related to a customer bankruptcy event during the three months ended September 30, 2023.
| Reconciliation of Adjusted Net Income and Adjusted Diluted Earnings Per Share (Amounts in thousands, except per share amount) |
|||||||||||
| Three months ended | |||||||||||
| September 30, | June 30, | ||||||||||
| 2024 | 2023 | 2024 | |||||||||
| Net income (GAAP) | $ | 53,037 | $ | 43,876 | $ | 45,825 | |||||
| add: Stock-based compensation expense | 21,232 | 17,067 | 18,095 | ||||||||
| add: Amortization of acquisition-related intangibles | 3,449 | 3,157 | 3,077 | ||||||||
| add: Restructuring and litigation settlement costs (a) | — | — | 6,174 | ||||||||
| add: Effects of changes in fair value of contingent consideration | — | 2,500 | — | ||||||||
| add: Allowance for expected credit losses (b) | — | 1,700 | — | ||||||||
| subtract: Tax impact on stock-based compensation expense (c) | (5,830 | ) | (4,340 | ) | (4,619 | ) | |||||
| subtract: Tax impact on amortization of acquisition-related intangibles | (866 | ) | (771 | ) | (765 | ) | |||||
| subtract: Tax impact on restructuring and litigation settlement costs | — | — | (1,588 | ) | |||||||
| subtract: Tax impact on allowance for expected credit losses | — | (429 | ) | — | |||||||
| Adjusted net income (Non-GAAP) | $ | 71,022 | $ | 62,760 | $ | 66,199 | |||||
| Adjusted diluted earnings per share (Non-GAAP) | $ | 0.44 | $ | 0.37 | $ | 0.40 | |||||
(a) To exclude effects of employee severance costs and outplacement support costs of $4,762 and litigation settlement costs and associated legal fees of $1,412 during the three months ended June 30, 2024.
(b) To exclude the effects of material allowance for expected credit losses on accounts receivables related to a customer bankruptcy event during the three months ended September 30, 2023.
(c) Tax impact includes $1,673 and $462 during the three months ended September 30, 2024 and 2023 respectively, and $18 during the three months ended June 30, 2024, related to discrete benefits recognized in income tax expense in accordance with ASU No. 2016-09, Compensation – Stock Compensation.
Contacts:
Investor Relations
John Kristoff
Vice President, Investor Relations
+1 212 209 4613
ir@exlservice.com
Media – US
Keith Little
Assistant Vice President, Media Relations
+1 703 598 0980
media.relations@exlservice.com
Source: Thales Group
Headline: A NEW SATELLITE AGREEMENT TO STRENGTHEN THE PAN-AFRICAN STRATEGIC PARTNERSHIP BETWEEN FRANCE AND MOROCCO
Rabat, October 29, 2024 – Moroccan company Panafsat and Thales Alenia Space, the joint venture between Thales (67%) and Leonardo (33%), today announced they had signed a memorandum of understanding (MoU) for the development of a Moroccan satellite communications system. The system will deliver very-high-throughput services (VHTS) to 26 African countries, 23 of them in French-speaking Africa, covering a combined population of around 550 million people over an area spanning 12 million square kilometers.
The memorandum of understanding between the Moroccan operator Panafsat and Thales Alenia Space was signed today as part of the state visit of French President, Emmanuel Macron, to the Kingdom of Morocco,in the presence of Nadia Fettah Alaoui, Moroccan Minister of the Economy and Finance and Antoine Armand, French Minister of the Economy, Finance and Industry.
Under the MoU, Thales Alenia Space will build a very-high-performance flexible satellite. Once in orbit, the satellite will deliver high-speed internet to accelerate the transformation of Africa’s digital landscape. This will be achieved by providing the connectivity required for high value-added services for the benefit of governments, businesses and individuals. It will also help bridge the digital divide in rural and isolated communities.
Chairman and CEO of Panafsat Ahmed Toumi stated: “This project is the next key stage in the digital transformation process and the development of a digital economy in Morocco, and across Africa as a whole. It will change the lives of millions of people, eager to benefit from Internet access and all the essential services they need. We are delighted to be able to draw on the outstanding expertise and capabilities of a partner like Thales Alenia Space. We look forward to working together on this major project, which will bring significant benefits across the continent.”
Thales Alenia Space CEO Hervé Derrey added: “It is a privilege for Thales Alenia Space to be chosen by Panafsat to deliver this new geostationary telecommunications satellite. The project will make a significant contribution to bridging the digital divide in rural areas, as well as boosting economic growth and strengthening digital sovereignty across the African continent. We are honored to embark on this long-term partnership with Africa’s foremost private operator, helping it to expand its capabilities and develop space services for the benefit of the entire continent.”
The MoU is part of a roadmap developed by France and Morocco encompassing digitalization initiatives such as Digital Economy for Africa (DE4A) and Digital Morocco 2030, as well as the hosting of the FIFA World Cup 2030 in Morocco.
About Panafsat
Panafsat SA is a Moroccan private equity firm with Casablanca Finance City (CFC) status.
It was set up by Ahmed Toumi, an elected board member of the ITU (International Telecommunication Union) Radio Regulation Board from 1998 to 2002. Ahmed Toumi was also Chairman and Director-General of ITSO-Intelsat (the International Telecommunications Satellite Organization) from 2001 to 2009. He was awarded the Order of the Throne Officer class. Panafsat is developing Morocco’s first geostationary satellite to provide Internet access for 26 African countries. The project will contribute to the digital transformation of Africa in line with regional and global objectives.
Press contact
Kaoutar HAKAM Tel: +33 7 79 80 39 26 kaoutar.hakam@panafsat.ma
ABOUT THALES ALENIA SPACE
Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023 and has around 8,600 employees in 9 countries, with 16 sites in Europe and a plant in the US. www.thalesaleniaspace.com
THALES ALENIA SPACE – PRESS CONTACTS
Tarik Lahlou Tel: +33 (0)6 87 95 89 56 tarik.lahlou@thalesaleniaspace.com
Catherine des Arcis Tel: +33 (0)6 78 64 63 97 catherine.des-arcis@thalesaleniaspace.com
Cinzia Marcanio Tel.: +39 (0)6 415 126 85 cinzia.marcanio@thalesaleniaspace.com
Source: Office of United States Attorneys
Vanessa Roberts Avery, United States Attorney for the District of Connecticut, today announced that a federal jury in Hartford has found DICKSON ALORWORNU, also known as “Dixon Al,” 35, a citizen of Ghana residing in Greenwich, guilty of fraud offenses. The trial before U.S. District Judge Sarala V. Nagala began on October 23 and the jury returned guilty verdicts on both counts of an indictment this afternoon.
According to the evidence presented during the trial, in December 2017, Alorwornu used other individuals’ names, fake Social Security numbers, and email addresses to submit two non-degree student applications to the University of Connecticut (“UConn”). He then used American Express card information that had been stolen from three victims to fund the two student accounts with a total of more than $62,000 in fraudulently obtained funds. In early 2018, Alorwornu withdrew from the courses and requested that UConn refund the money he had deposited. UConn subsequently transferred tens of thousands of dollars to bank accounts Alorwornu controlled. The investigation revealed that the email accounts that Alorwornu used to defraud UConn were also used to commit fraud at other universities.
The jury found Alorwornu guilty of two counts of wire fraud, an offense that carries a maximum term of imprisonment of 20 years on each count. Judge Nagala scheduled sentencing for February 19.
Alorwornu was arrested on February 1, 2023. He is released on a $50,000 bond pending sentencing.
This investigation has been conducted by the Federal Bureau of Investigation and the UConn Police Department. The case is being prosecuted by Assistant U.S. Attorneys Edward Chang and Elena Coronado.
Source: United Nations (Video News)
Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.
Highlights:
-Briefings
-Biodiversity
-UNRWA
-Occupied Palestinian territory
-Security Council
-Lebanon/Israel
-Lebanon
-Financial contribution
-Ukraine
-Democratic Republic of the Congo
-Sudan
-International Day of Care and Support
BRIEFINGS
Tomorrow, you will have a heavy day. We’ve asked Amy Pope, the head of the International Organization for Migration who is currently in Sudan to brief you. She will be here at 11 a.m. vie videoconference from Port Sudan to brief you on her ongoing trip. At noon you will have to deal with me. Then at 1 p.m., there will be a briefing here by the Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel and that Commission includes Navid Pillay, Miloon Kothari and Chris Sidoti. Then at 2:00 p.m., Francesca Albanese, the UN Special Rapporteur on the situation of human rights in the Palestinian Territory occupied since 1967 will be here live in person in this very room.
BIODIVERISTY
This morning, the Secretary-General is in Cali, in Colombia, where he is attending the high-level segment of the 16th meeting of the Conference of Parties to the Convention on Biological Diversity (COP16). In his remarks, he highlighted that nature is life, and yet we are waging a war against it, a war where there can be no winner. He is in fact about to deliver those remarks and he is expected to warn that no country, rich or poor, is immune to the devastation inflicted by climate change, biodiversity loss, land degradation and pollution, adding that these environmental crises are intertwined, they know no borders.
The Secretary-General noted that when the Framework was adopted two years ago in Montreal, the world made bold commitments to living in harmony with nature by mid-century. He said that we must now turn these promises into acts.
This morning, he had a series of bilaterals. He met with Leslie Voltaire, the President of the Transitional Presidential Council of Haiti. They agreed on the need to expedite the political transition towards holding elections. In the meeting, the Secretary-General appealed to Haitian stakeholders to set aside their differences and work together for Haiti’s peace and security.
This afternoon, the Secretary-General will engage in discussions with indigenous people and local communities, as well as representatives of civil society, including youth and women.
And I think he just met with Gustavo Petro, the President of Colombia. Tomorrow, on the sidelines he will speak at an event on plastic pollution organized by the UN Environment Programme. He will also speak to journalists at a press conference before heading out of Cali and coming back to New York.
UNRWA
You saw that last night we issued a statement in the Secretary-General’s name in which he expressed his deep concern at the adoption yesterday by the Israeli Knesset of two laws concerning the United Nations Relief and Works Agency for Palestine Refugees in the Near East, better known to all of us as UNRWA, and the laws which, if implemented, would likely prevent UNRWA from continuing its essential work in the Occupied Palestinian Territory, including East Jerusalem, as mandated by the General Assembly of these United Nations.
The Secretary-General emphasized that UNRWA is the principal means by which essential assistance is supplied to Palestine refugees in the Occupied Palestinian Territory. There is no alternative to UNRWA.
He calls on Israel to act consistently with its obligations under the Charter of the UN and its other obligations under international law, including international humanitarian law and those concerning the privileges and immunities of the United Nations. National legislation cannot alter those obligations. He is bringing this matter to the attention of the General Assembly and will keep the Assembly closely informed on the situation as it develops.
Philippe Lazzarini, the Commissioner General of UNRWA, added that these bills will only deepen the suffering of Palestinians, especially in Gaza, where people have been going through more than a year of sheer hell. He said that these bills increase the suffering of the Palestinians and are nothing less than collective punishment. Mr. Lazzarini also sent a letter to the President of the General Assembly to express those concerns in detail.
Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=29%20October%202024
Source: United Nations (Video News)
Khaled Mohamed Khiari of Tunisia, Assistant Secretary-General for Middle East, Asia and the Pacific, urges an end to military activities in the Middle East to avert an all-out regional war. He also decries the unbearable conditions facing Palestinians in Gaza, where levels of death and destruction are harrowing. And he warned that thousands of children are at risk of polio because the vaccination campaign has been suspended.