What you need to know: Governor Newsom signed four bills today to help law enforcement crack down on dangerous sideshows and street takeovers. These new laws will hold participants and organizers accountable by providing law enforcement with the tools to seize vehicles involved in these illegal activities.
SACRAMENTO — Governor Gavin Newsom signed bipartisan legislation today to impose stricter penalties, increase accountability, and strengthen law enforcement’s ability to combat sideshows and street takeovers. These measures mark a step forward in improving road safety across California by addressing the rise of illegal street activities that endanger the safety of drivers, pedestrians, and communities. These new laws provide law enforcement with enhanced tools to more effectively deter illegal activities such as drifting, street racing, and blocking intersections during sideshows and street takeovers.
“Sideshows are reckless, criminal activities that endanger our communities. We have seen too many people killed or hurt at these events. Today, we are sending a clear message to anyone considering participating in or attending a sideshow: stricter penalties are in place, including the potential loss of your vehicle.”
Governor Gavin Newsom
Communities throughout California report increased sideshow activities and street takeovers. These dangerous events, where people race vehicles and shut down streets to perform stunts, can quickly turn deadly, often leading to accidents, spectator injuries, and other criminal activity, and block roadways and disrupt traffic flow, including access for emergency vehicles.
Participants, organizers, and spectators be warned
These new laws expand vehicle impoundment authority for law enforcement, including for spectators and those aiding in illegal speed contests and sideshows, while also standardizing terminology for “sideshows” and “street takeovers” statewide, and targeting reckless driving activities on highways and parking lots.
Governor Newsom today strengthened California’s ability to improve road safety by signing the following bills:
AB 1978 by Assemblymember Kate Sanchez (R-Rancho Santa Margarita) – Vehicles: speed contests
AB 2186 by Assemblymember Greg Wallis (R-Palm Springs) – Vehicles: impoundment
AB 2807 by Assemblymember Carlos Villapudua (D-Stockton) – Vehicles: sideshows and street takeovers
AB 3085 by Assemblymember Mike Gipson (D-Carson) – Vehicles: removal and impoundment
Stronger enforcement. Serious penalties. Real consequences.
Today’s signing follows the Governor’s recent signing of landmark legislation providing law enforcement and prosecutors with additional tools to arrest and prosecute criminals for smash-and-grabs, retail theft, auto burglaries, and other property crime. While California’s crime rate remains near historic lows, these laws help California adapt to evolving criminal tactics to ensure perpetrators are effectively held accountable.
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WASHINGTON – The U.S. Department of Labor today announced the award of more than $7.4 million to support continued disaster-relief employment and workforce training for California residents affected by severe winter storms that occurred in late 2022 and early 2023.
On April 13, 2023, the department announced a National Dislocated Worker Grant of up to $22 million – with an initial award of $7.4 million – for the California Employment Development Department to provide people with temporary jobs focused on debris removal, water damage cleanup and the delivery of humanitarian assistance to those in need after the storm. Funding also supports career and training services.
Between Dec. 27, 2022, and Jan. 31, 2023, a series of winter storms and atmospheric rivers swept through California and caused damage in 51 of the state’s 58 counties. The storms produced flooding and mudslides, toppled trees, created sinkholes and damaged public and private lands. The Federal Emergency Management Agency issued a major disaster declaration on Jan. 14, 2023, enabling California to request federal assistance for recovery efforts.
Administered by the department’s Employment and Training Administration, and supported by the Workforce Innovation and Opportunity Act of 2014, National Dislocated Worker Grants provide funding assistance to temporarily expand the service capacity of dislocated worker programs at the state and local levels when large, unexpected economic events cause significant job losses.
What you need to know: Governor Gavin Newsom today signed Assembly Bill 3216, the Phone-Free School Act, to require every school district, charter school and county office of education to develop a policy limiting the use of smartphones by July 1, 2026.
Sacramento, California – Building on his calls for school districts to restrict the use of smartphones on school campuses, Governor Gavin Newsom today signed Assembly Bill 3216, the Phone-Free School Act, to require every school district, charter school and county office of education to adopt a policy limiting or prohibiting the use of smartphones by July 1, 2026. Authored by Assemblymembers Josh Hoover, David Alvarez, Josh Lowenthal, and Al Muratsuchi, the bipartisan legislation will support the mental health, academic success, and social wellbeing of California’s students.
“We know that excessive smartphone use increases anxiety, depression, and other mental health issues – but we have the power to intervene. This new law will help students focus on academics, social development, and the world in front of them, not their screens, when they’re in school.”
Governor Gavin Newsom
“Reducing phone use in schools is essential for minimizing digital distractions and making space for stronger and more meaningful in-person connections. AB 3216 isn’t only about classroom instruction, it’s about protecting the mental health and social and emotional well-being of California’s kids.”
First Partner Jennifer Siebel Newsom
How we got here
In 2019, Governor Newsom signed AB 272 (Muratsuchi) into law, which specified that school districts have the authority to regulate the use of smartphones during school hours. This legislation was a crucial first step in efforts to minimize distractions and foster a more conducive environment for our students to learn. In June, the Governor announced efforts to restrict the use of smartphones during the school day.
Maintaining student safety
The development of the policies will involve significant stakeholder participation to ensure they are responsive to the unique needs and desires of the local students, parents and educators and must allow students to use their phones in the case of an emergency, or in response to a perceived threat of danger, or as allowed by a teacher, administrator, doctor or the student’s individualized education program.
Why this matters
Excessive smartphone use among youth is linked to increased anxiety, depression, and other mental health issues. A recent Pew Research Center survey found that 72% of high school and 33% of middle school teachers report cell phone distractions as a major problem. Common Sense Media found that 97% of students use their phones during the school day for a median of 43 minutes. Combined with the U.S. Surgeon General’s warning about the risks of social media, it is urgent to provide reasonable guardrails for smartphone use in schools.
Supporting smartphone free classrooms
Assemblyman Josh Hoover: “I appreciate the leadership of Governor Newsom and our bipartisan coalition of legislators that worked together to make the Phone-Free Schools Act a reality. AB 3216 is a major victory for protecting and improving the mental health and academic outcomes of students across California,” said Assemblyman Josh Hoover. “Research continues to demonstrate the potential harms of smartphone use among children. The growing use of these devices in a child’s everyday life can contribute to lower test scores, anxiety, depression, and even suicide. I am proud our state is taking action to limit the use of smartphones during the school day and protect kids from these harms.”
Assemblymember Al Muratsuchi, Chair of the Assembly Education Committee: “I thank the Governor for signing AB 3216. California school districts should place limits on student smartphone use on campus during school hours, unless approved by teachers or administrators for academic, emergency, or other purposes. In 2019, I authored Assembly Bill 272, to encourage school districts to consider such limits. Since then, growing research shows excessive smartphone use not only interfering with learning but also contributing to teenage anxiety, depression, and cyberbullying. All school districts should develop their own appropriate policy to balance appropriate student use of smartphones at school with curbing the impact of excessive smartphone use on a student’s educational, social, and emotional well-being.”
State Superintendent of Public Instruction Tony Thurmond: “AB 3216 represents an important opportunity to address the mental health of our students by restricting smartphones in schools. I have directly engaged with our students, parents, and educators as we have explored the need for this important change. I will continue to make sure that we hear the voices of our young people, their families, and our hardworking school staff as we implement smartphone restrictions across the state.”
Statewide efforts to support youth mental health
California is transforming our entire mental health and substance use disorder system, with a special focus on youth. For the youngest Californians, Governor Newsom developed the Master Plan for Kids’ Mental Health to provide every Californian aged 0-25 with increased access to mental health and substance use disorder supports. The Master Plan also includes the Children and Youth Behavioral Health Initiative (CYBHI), a historic investment by the State of California that takes a “whole child” approach to address the factors that contribute to the mental health and well-being of our children and youth.
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GOVERNOR GREENWILL SEEK $45 MILLION IN ADDITIONAL WELFARE RELIEF FOR HAWAIʻI FAMILIES
FOR IMMEDIATE RELEASE September 23, 2024
The state of Hawai‘i will implement rule changes to the Supplemental Nutrition Assistance Program (SNAP) that are expected to generate an additional $45 million in benefits for Hawai‘i’s struggling families.
The changes — prompted by a recent study by the University of Hawai‘i Economic Research Organization (UHERO) — mean that an extra 13,000 to 14,000 households will be eligible for an average of $3,200 a year in SNAP benefits, commonly known as food stamps.
“This is going to provide a huge relief for our working-class families who are struggling with Hawai‘i’s highest-in-the-nation cost of living,” said Governor Josh Green, M.D. “In identifying a critical opportunity for our SNAP program, UHERO’s research team is enabling us to make much-needed changes to our social welfare system so that families living from paycheck to paycheck can afford to put more food on their tables.”
In Hawai‘i, SNAP is one of the largest welfare programs available to low-income families. Currently, a family of four can receive as much as $1,759 a month in SNAP benefits. In a typical month, the total value of SNAP benefits in Hawai‘i exceeds $60 million.
For decades, the SNAP eligibility criteria were controlled by the federal government. Following changes to the program in 2000, states were given more flexibility to adjust the eligibility rules by establishing a program of “broad-based categorical eligibility” (BBCE). Through BBCE, states were able to eliminate asset limits, which prevented households with high savings from receiving SNAP benefits. BBCE also allows states to raise limits on the amount of income households can receive and still qualify for SNAP.
According to UHERO, eliminating another income criteria known as the “net income limit” will expand the number of Hawaiʻi households receiving SNAP benefits by 13,000 to 14,000. (“Net income” in the SNAP program is defined as the total monthly household income after deducting certain non-food household expenses like rent, utilities, medical costs, childcare costs and others. Before BBCE, households needed to have a net income below the federal poverty line to qualify for SNAP benefits.)
Also according to UHERO, eliminating this limit will add little overhead: The state only needs to pay half of the additional administrative costs associated with the additional SNAP cases that would result. In 2019, Hawai‘i’s share of SNAP administrative costs was only about 5.6% of the amount of SNAP benefits that the state paid out to Hawai‘i families.
“This decision has far-reaching implications,” said Dylan Moore, a co-author of the UHERO report. “This change may further increase benefit payments by making it easier for households to understand whether they are eligible for SNAP.”
The Hawai‘i Public Health Institute’s Social Impact Policy Manager Nate Hix co-authored the report.
# # #
Media Contacts: Erika Engle Press Secretary Office of the Governor, State of Hawai‘i Phone: 808-586-0120 Email: [email protected]
Makana McClellan Director of Communications Office of the Governor, State of Hawaiʻi Cell: 808-265-0083 Email: [email protected]
**UPDATE** News Release – Missing Work Furlough Inmate arrested, returned to custody
Posted on Sep 23, 2024 in Latest Department News, Newsroom
DEPARTMENT OF CORRECTIONS AND REHABILITATION
KA ‘OIHANA HOʻOMALU KALAIMA A HOʻOPONOPONO OLA
JOSH GREEN, M.D.
GOVERNOR
KE KIAʻĀINA
TOMMY JOHNSON
DIRECTOR
KA LUNA HO‘OKELE
FOR IMMEDIATE RELEASE
Sept. 23, 2024
UPDATE: Missing Work Furlough Inmate arrested, returned to custody
HONOLULU — O‘ahu Community Correctional Center (OCCC) work furlough inmate Bobby M. Cotton is back in custody after sheriff’s deputies arrested him at The Queen’s Medical Center Saturday, Sept. 21, 2024.
Cotton, 51, failed to return to OCCC Module 20 from his job-seeking pass by 5 p.m. Thursday, Sept. 19, 2024. Sheriffs and the Honolulu Police Department were notified.
Cotton sought medical care at Queen’s Saturday and someone recognized him. Sheriffs were called and sheriff’s deputies subsequently arrested him at the hospital. He was returned to custody at OCCC at approximately 2:25 p.m. Saturday.
Cotton is serving time for second-degree robbery. He may now face an additional second-degree escape charge. Second-degree escape is a Class C felony that is punishable by up to five years in prison, if convicted.
Cotton is a community custody inmate in the work furlough program with pass privileges. Community custody is the lowest classification status.
###
Media Contact:
Rosemarie Bernardo
Public Information Officer
Hawai‘i Department of Corrections and Rehabilitation
Posted on Sep 23, 2024 in Latest Department News, Newsroom
DEPARTMENT OF AGRICULTURE
ʻOIHANA MAHIʻAI
JOSH GREEN, M.D. GOVERNOR
KIAʻĀINA
SHARON HURD CHAIRPERSON
HAWAI`I BOARD OF AGRICULTURE
FOR IMMEDIATE RELEASE
NR24-28
September 21, 2024
COCONUT RHINOCEROS BEETLE FOUND IN WAIKOLOA TRAP
HONOLULU – A single coconut rhinoceros beetle (CRB) has been found in a trap this week by the Hawai‘i Department of Agriculture (HDOA) during routine monitoring in Waikoloa on Hawai‘i Island. This is the first detection of CRB on the island since October 2023 when a Waikoloa resident reported finding a total of six grubs (larvae) in a decaying palm tree stump. The trap that the CRB was found in this week is located about 200 yards from the earlier detection.
HDOA set 30 traps around Waikoloa and has been conducting routine monitoring with the assistance of volunteer area residents. The Big Island Invasive Species Committee has set additional traps, as has the University of Hawai‘i, whose traps have cameras that allow real-time monitoring.
The pheromone traps are used for early detection of infestations. The traps do not attract all CRB in the area and are not effective as an eradication method. Surveillance for CRB has been ongoing on all islands, including traps at airports, harbors and other strategic locations.
HDOA and CRB Response teams are now focusing on eradication efforts in the area where the beetle was found. Initial surveys in the immediate area did not detect obvious signs of CRB damage in palm trees.
“CRB surveillance on Hawai‘i Island has been ongoing and early detection is key to prevent the establishment of breeding populations,” said Sharon Hurd, chairperson of the Hawai‘i Board of Agriculture. “We ask everyone to keep an eye out for CRB, especially in their compost and mulch piles which are major breeding grounds of the beetle.”
Residents on all islands are asked to be vigilant when purchasing mulch, compost and soil products, and to inspect bags for evidence of entry holes. An adult beetle is about 2-inches long, all black and has a single horn on its head. CRB grubs live in decomposing plant and animal waste. Adult CRB prefer to feed on coconut and other larger palms and are a major threat to the health of these plants.
Residents may go to the CRB Response website at: https://www.crbhawaii.org/ to learn more about how to detect the signs of CRB damage and how to identify CRB life stages. Reports of possible CRB infestation may also be made to the state’s toll-free Pest Hotline at (808) 643-PEST (7378).
The CRB is a large scarab beetle that was first detected on O‘ahu in 2013. The beetle has since been detected in many neighborhoods on O‘ahu and was detected on Kaua‘i in May 2023, where collaborative eradication efforts continue. CRB grubs were found in Kīhei, Maui, in November 2023, but have not been detected on the island since.
CRB is a serious pest of palm trees, primarily coconut palms, as the adult beetles bore into the crowns of the palms to feed on the trees’ sap. New unopened fronds are damaged in this way and when fully opened, may break and fall unexpectedly. If CRB kill or damage the growing point of the palm, the tree may die. Secondary fungal or bacterial pathogens may also attack the wounds caused by CRB, thereby killing the tree as well. Tree mortality after CRB attack has been reported to be anywhere from 10 percent to 50 percent. Dead trees then become a safety hazard as they may fall unexpectedly after the trunk rots, potentially resulting in bodily injury or property damage.
CRB is a major pest of palms in India, the Philippines, Palau, Fiji, Wallis and Futuna, Nukunono, American and Western Samoa and Guam. It is still not known exactly how the beetles arrived in Hawai‘i.
###
Media Contact: Janelle Saneishi, Public Information Officer Hawaiʻi Department of Agriculture Phone: 808-973-9560 Cell: 808-341-5528 [email protected] http://hdoa.hawaii.gov
Karen Mollica (BA Honours [Political Science], McMaster University, 2000; MA [International Affairs], Carleton University, 2003) joined the Department of Foreign Affairs and International Trade in 2003 after completing internships in Guyana and Costa Rica.
Karen Mollica (BA Honours [Political Science], McMaster University, 2000; MA [International Affairs], Carleton University, 2003) joined the Department of Foreign Affairs and International Trade in 2003 after completing internships in Guyana and Costa Rica. Her early assignments included serving as coordinator of the Landmine Action Team and as a case officer for several West and Central African countries. She then worked at the Canadian International Development Agency, serving as First Secretary at the High Commission in South Africa and as Counsellor and Head of Cooperation at the Embassy in Jordan. Upon her return to headquarters in 2019, she was appointed Director of Policy, Planning and Operations for Latin America and the Caribbean, a position she held until 2022. Most recently, she served as Director and Senior Ministerial Advisor in the Office of the Minister of International Development and Chargé d’Affaires at the Embassy to the Holy See.
Ajit Singh (BA [Communications], University of Winnipeg, 2003; BA Honours [Political Science], University of Winnipeg, 2004; MA [International Law], United Nations University for Peace, 2006; JD, Osgoode Hall Law School, 2012) has lived, studied and worked in a multilingual environment in 6 countries on 4 continents. He joined the Government of Canada in 2008 after working in media, education, the United Nations and civil society organizations. He then practised private law in Toronto and was called to the Ontario Bar as a barrister. In 2013, he joined the Privy Council Office in the Intergovernmental Affairs Secretariat. He subsequently worked at the Foreign and Defence Policy Secretariat, where he was responsible for relations with Europe, the Caucasus, Central Asia and Latin America, as well as legal files. In 2017, he joined Global Affairs Canada as Deputy Director in the Foreign Policy Planning Division, where he led the Foreign Ministers’ Events team during Canada’s G7 Presidency in 2018. He then worked in the Conflict Prevention, Stabilization and Peacebuilding Division. In 2021, he joined the Department of National Defence as Director of Operations. He returned to the Privy Council Office in 2022, this time to become the first person to hold the position of Director of International Crisis Response.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:
Middlefield Canadian Income PCC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments
X
An event changing the breakdown of voting rights
Other (please specify) iii:
3. Details of person subject to the notification obligationiv
Name
Saba Capital Management, L.P.
City and country of registered office (if applicable)
New York, United States
4. Full name of shareholder(s) (if different from 3.) v
Name
Saba Capital Arcadia Master Fund, Ltd.
City and country of registered office (if applicable)
Cayman Islands
Name
Saba Capital Bluebird Fund, Ltd.
City and country of registered office (if applicable)
Cayman Islands
Name
Saba Capital Income & Opportunities Fund
City and country of registered office (if applicable)
United States
Name
Saba Capital CEF Opportunities 1, Ltd.
City and country of registered office (if applicable)
Cayman Islands
Name
Saba Capital CEF Special Opportunities Master Fund 2, Ltd.
City and country of registered office (if applicable)
Cayman Islands
Name
Saba Capital Income & Opportunities Fund II
City and country of registered office (if applicable)
United States
Name
Saba Capital Master Fund, Ltd.
City and country of registered office (if applicable)
Cayman Islands
Name
Stone Ridge Archimedes Sub-Master (Red) LP
City and country of registered office (if applicable)
United States
5. Date on which the threshold was crossed or reachedvi:
20/09/2024
6.Date on which issuer notified (DD/MM/YYYY):
23/09/2024
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer (8.A + 8.B) vii
Resulting situation on the date on which threshold was crossed or reached
0.000000
11.190668
11.190668
11916635
Position of previous notification (if applicable)
0.000000
10.206889
10.206889
8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)
Number of voting rightsix
% of voting rights
Direct (DTR5.1)
Indirect (DTR5.2.1)
Direct (DTR5.1)
Indirect (DTR5.2.1)
GB00B15PV034
0
0
0.000000
0.000000
SUBTOTAL 8. A
0
0.000000%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument
Expiration datex
Exercise/ Conversion Periodxi
Number of voting rights that may be acquired if the instrument is exercised/converted.
% of voting rights
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument
Expiration datex
Exercise/ Conversion Periodxi
Physical or cash Settlementxii
Number of voting rights
% of voting rights
Total Return Swap
08/17/2024
Cash
11916635
11.190668
SUBTOTAL 8.B.2
11916635
11.190668%
9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv
X
Namexv
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
Boaz Weinstein
Saba Capital Management GP, LLC
11.190668%
10.In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
SANTA CLARA, Calif., Sept. 24, 2024 (GLOBE NEWSWIRE) — Silvaco Group, Inc. (Nasdaq: SVCO, “Silvaco” or the “Company”), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, today announced that its 2024 TCAD Baseline Release simulation platform with digital twin modeling, provides support for planar CMOS, FinFET and Gate-All-Around (GAA) transistor technologies, enabling semiconductor companies to accelerate technology development.
Silvaco’s latest TCAD technology platform, enables advanced CMOS Process and Device simulation to support the development of next-generation semiconductor devices. This platform boosts performance, yield and efficiency across the evolving semiconductor design and manufacturing landscape. The solution enables highly accurate 3D process simulation, using digital twin-like precision and integrates stress simulation to model deformed structures. Additionally, the platform supports cryogenic applications through an atomistic quantum transport approach, enabling straightforward modeling of transistor structures down to 1 Kelvin.
“Our TCAD platform has gained significant traction in the Display, Photonics, Memory and Power Semiconductor markets, where our solutions have been instrumental in driving innovation and enhancing performance,” said Dr. Babak Taheri, Chief Executive Officer, Silvaco. “We have now extended our comprehensive suite of tools to the advanced CMOS market, enabling next-generation advancements in technologies to address growing markets such as foundries, 5G, AI and high-performance computing. Our newly released TCAD platform has been utilized by a strategic customer for the past few years and is now available for broad market adoption. This new capability for advanced CMOS technology enables customers to accelerate their technology development with significant cost savings.”
“Nanotechnology, like GAA, exhibits advanced quantum physical effects,” said Tillmann Kubis, Associate Professor in the Elmore Family School of Electrical and Computer Engineering at Purdue University. “Over the past six years, our team of scientists has collaborated with Silvaco to enable the simulation of full devices, such as nanowires and GAAs, powered by NEMO5 which is an NEGF-based atomistic quantum transport simulation tool developed at Purdue and licensed by Silvaco. This collaboration is now enabling Silvaco’s TCAD simulation performance with atomistic accuracy.”
“This latest release of our TCAD platform is the culmination of years of intensive development, refinement and industry collaboration in order to meet the demanding needs of designing in advanced CMOS process technologies,” said Eric Guichard, Senior VP and General Manager TCAD Business Unit, Silvaco. “The latest release of our TCAD platform now incorporates digital twin modeling for CMOS technologies, as well as atomistic simulation technologies to provide a highly competitive and attractive alternative solution for semiconductor companies designing in advanced Planar CMOS, FinFET and emerging GAA process technologies.”
About Silvaco
Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high-performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the “safe harbor” provisions of those sections. Forward-looking statements include, but are not limited to, statements regarding the Company’s expectations, beliefs, intentions, plans, or strategies related to the release and adoption of its 2024 TCAD Baseline Release simulation platform, the anticipated benefits of this platform for advanced CMOS, FinFET, GAA, and other emerging technologies, and the potential advantages for customers in terms of performance, cost savings, and accelerated technology development. Forward-looking statements are typically identified by the use of words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “estimate,” “potential,” “continue,” and similar expressions, although not all forward-looking statements contain these words.
These statements are based on the Company’s current expectations and assumptions and are subject to risks, uncertainties, and other factors, including those described in the Company’s most recent Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. These factors may cause actual results to differ materially from those expressed or implied by forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Media Contact Tyler Weiland +1 972-571-7834 press@silvaco.com
There was nothing in the Reserve Bank’s (RBNZ) announcement to greatly challenge our view of the world. The Official Cash Rate (OCR) was lowered 25bps to 5.25% as we expected. The interest rate brake is still on, just less so than before.
The most important aspect of the meeting in our view was the confirmation that the OCR will move a lot lower over the coming 18 months.
It needs to. Our rough estimate of the ‘real’ (inflation-adjusted) cash rate has increased in recent months, even with this week’s cut. And it’s a long way down for the OCR to the RBNZ’s estimate of the long-run neutral rate around 3%.
Chart 2: Chop
The RBNZ’s updated forecasts were a shadow of their former selves. GDP growth, inflation and OCR forecasts got a chop while unemployment rate expectations were lifted ½% or so to a 5½% peak.
This brings the RBNZ’s view of the economy down to, or even a touch weaker than, where we’ve been seeing things. Importantly, CPI inflation is now seen well inside the 1-3% target range in Q3 (2.3%y/y from 3.0% in May). As of yesterday, we concur.
It means there’s a higher hurdle for incoming data to surprise the RBNZ on the downside. That doesn’t rule out a larger 50bps OCR cut being deployed at some point, but it does lean against the possibility in the short term.
Chart 3: Joining the rate race
Having been something of an outlier for a while, NZ is now back in the policy easing peloton. Most developed markets anticipate sizeable interest rate cuts over the coming 12 months.
Markets price a better than even chance of a 50bp start to the US Federal Reserve’s easing cycle next month which, if delivered, may embolden global rate cut pricing further.
Of those markets covered opposite, implied policy easing to February 2025 is most aggressive for the US (-185bps), NZ (-150bps), and Canada (-130bps), with Australia (-65bps) and Japan (+10bps) at the other end of the field.
Chart 4: US sniffles
Global financial markets have recovered much of their poise following the steep equity market declines of early last week. Sentiment is not what it was though. Investors are suddenly alert to any number of global fragilities.
Most of the ‘blame’ for the wobble has been pinned on cooling tech/AI exuberance and US growth concerns. The outsized reaction last week may reflect the additional, creeping reliance on the US to drive the global expansion this year. The old ‘US catches a cold’ adage is still relevant.
Chart 5: Jobs growth stalled
The number of people employed nudged up 0.4% in the June quarter, according to official figures released last week. We’d pencilled in a small decline. Unemployment still rose to 4.6% as expected.
Q2’s employment kick is unlikely to be repeated this quarter, and it also doesn’t change the broader narrative of jobs growth effectively stalling around mid-2023.
Amongst the sectoral detail, it’s clear that the construction sector has been at the vanguard of the changing employment market.
Chart 6: Relocating for work
The lift in NZ’s unemployment rate in Q2 maintained a ½ percentage point gap to the (4.1%) Aussie equivalent.
It doesn’t sound large, but that gap is the widest since 2013. Not coincidentally, net migration outflows to Australia are also running at the strongest level since 2013. People move to where the jobs are.
Our forecasts imply both trends have got a ways to run. A climb in the NZ unemployment rate to a 5.5% peak in early 2025 against a lower (4.6%) peak in Australia would, on past form, be consistent with an acceleration in net outflows.
Chart 7: Green f(lags)
Wage inflation peaked in NZ about a year ago. We saw another notch in the downtrend last week. The private sector Labour Cost Index eased to 3.6%y/y in June, down from 3.8% the prior quarter and the 4.5% peak.
More of the same easing is expected over the coming 12 months. It’s something that should help drain still-elevated domestic services inflation pressure. So, it’s not that high interest rates have been ineffective on non-tradables inflation, it’s that the impacts take time to turn up. The lags are real!
Chart 8: No retail respite
The trend in NZ retail card spending abruptly turned in early 2023, and it’s been downhill ever since. July’s 0.1%m/m contraction was the 6th consecutive monthly decline. Discretionary categories remain the hardest hit.
The weakness is even more pronounced once buoyant population growth is accounted for. Our estimate of the average monthly spend per (working age) person is 8% below March 2023 levels. It’s a deeper and longer contraction than during the 2008 GFC.
We’re hopeful the downtrend soon stabilises. Tax and interest rate cuts are supports, but falling population growth and job security are not.
Chart 9: Housing market in focus
The release of July REINZ housing market numbers has been shunted out to Tuesday, thus missing the cut for this edition of TEITC.
But, it’s fair to say, housing stats will be watched more closely than usual as folk scour for green shoots in a sector likely to be one of the earlier responders to (recent and expected) falls in retail interest rates. There are stirrings in some of the anecdote and surveys, but we think the prognosis is more stabilisation than acceleration, for now.
In the least, we’d expect a hearty bounce-back in July sales activity following the outsized, Matariki holiday-related, drop in June. That’s what we saw from this week’s Barfoot & Thompson figures covering a share of the Auckland market.
Chart 10: Food for thought
Food prices lifted 0.4%m/m (seasonally adjusted) in July. Prices have been flattish for the past year, but they’re still up 24% on 2020 levels.
As you’d expect, there’s been a fair bit of variation amongst the components over that time. If you’re partial to an omelette and/or yogurt for breakfast you will be feeling the pinch a lot more than some. At least your morning brew is still, relatively speaking, cost effective.
Disclaimer: This publication has been produced by Bank of New Zealand (BNZ). This publication accurately reflects the personal views of the author about the subject matters discussed, and is based upon sources reasonably believed to be reliable and accurate. The views of the author do not necessarily reflect the views of BNZ. No part of the compensation of the author was, is, or will be, directly or indirectly, related to any specific recommendations or views expressed. The information in this publication is solely for information purposes and is not intended to be financial advice. If you need help, please contact BNZ or your financial adviser. Any statements as to past performance do not represent future performance, and no statements as to future matters are guaranteed to be accurate or reliable. To the maximum extent permissible by law, neither BNZ nor any person involved in this publication accepts any liability for any loss or damage whatsoever which may directly or indirectly result from any, opinion, information, representation or omission, whether negligent or otherwise, contained in this publication.
In a move to enhance access to foreign exchange markets, Wellington-based fintech Adminis has signed an API agreement with BNZ—the first bank in New Zealand to offer an FX dealing API.
An API, or Application Programming Interface, is a secure tool that allows different software programmes to connect and share information automatically. With this agreement, Adminis customers can access BNZ’s comprehensive foreign exchange services directly from the Adminis platform.
Customers can exchange currencies in real-time and execute transactions almost instantly, lock in future rates to protect against market volatility, and put their funds to work quickly and securely, without delays from manual processing.
The agreement also provides continuous access to international markets, operating 24 hours a day, 5.5 days a week – from the opening of the Wellington market to the close of New York. This means Adminis customers can trade currencies and manage risks even when local markets, such as those in New Zealand, are closed overnight. This access spans major FX markets across the USA, Europe, and Asia.
Adminis CEO, Matan Gan-El, says, “We are excited to work with BNZ to bring this innovative solution to our platform, which supports over $11 billion in funds under administration for our clients. This agreement will enable our clients to streamline their foreign exchange transactions, optimise risk management, and make more informed decisions when investing and rebalancing their portfolios.
“The API integration will not only make it easy to automate foreign exchange transactions based on predefined criteria, but also facilitate locking in exchange rates through Forward Exchange Contracts, improving the speed and accuracy of deal booking while managing currency fluctuation risks.”
BNZ’s General Manager of Markets, Philippa Fourbet, says, “We’re proud to be the first bank in the country to offer an FX dealing API. Since 2018, BNZ has been at the forefront of API development in the banking sector, with more than 250,000 customers already benefitting from innovative products and services unlocked by this technology.
“This collaboration reflects our focus on using the latest technology to deliver tangible benefits for New Zealanders and businesses. We’re thrilled to be making it easier for businesses to manage their FX transactions, saving them valuable time and resources.”
For more information on BNZ’s APIs, please visit BNZ APIs – BNZ.
Washington, DC: On September 10, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with the Dominican Republic and considered and endorsed the staff appraisal without a meeting.[2]
A track record of sound policies and institutional policy frameworks has helped the Dominican Republic achieve robust and resilient economic growth and low inflation over the last two decades. Effective policies contributed to a growth moderation that appropriately supported inflation’s rapid and sustained return to its target last year and then aided the recovery, while close monitoring of the financial sector supported macro-financial stability. Planned enhancements to policy frameworks and deepening structural reforms—in particular, comprehensive fiscal and electricity reforms—have the potential to further support stability, competitiveness, and inclusive growth.
Following a strong post-pandemic recovery, economic growth slowed to 2.4 percent in 2023 due to tighter global and domestic financial conditions, weak export demand, and transient domestic factors, largely climate related. The growth slowdown, alongside lower commodity prices, drove inflation’s faster-than-expected convergence to its target range (4±1 percent). In response, the Central Bank of The Dominican Republic (BCRD) cautiously and appropriately reduced its key policy rate, allowing for greater exchange rate flexibility while increasing foreign exchange interventions to smooth daily exchange volatility. Fiscal policy was also prudently adjusted to support the economy. The current account deficit in 2023 narrowed markedly to 3.6 percent of GDP and was fully financed by foreign direct investment (FDI) flows. The financial sector weathered the period of tight monetary policy and slower growth and is adequately capitalized and profitable.
Supported by sound policies and macroeconomic fundamentals, the outlook is favorable despite elevated, mostly global, uncertainty. For 2024 and over the medium term, real GDP growth is projected around its long-term trend of 5 percent, with inflation around its 4 percent target. The current account deficit is projected to gradually narrow to less than 3 percent of GDP and continue being fully financed by FDI. Near-term risks to the outlook—including tighter global financial conditions, geopolitical tensions, and volatile commodity prices—have moderated since last year but remain elevated and tilted to the downside. Over the medium-term risks are more balanced and include upside risks if key domestic reforms are implemented successfully.
Executive Board Assessment
In concluding the 2024 Article IV Consultation with the Dominican Republic, Executive Directors endorsed staff’s appraisal, as follows:
A track record of sound policies and institutional policy frameworks has helped the Dominican Republic achieve robust and resilient economic growth and low inflation over the last two decades. Effective policies contributed to a growth moderation that appropriately supported inflation’s rapid and sustained return to its target in 2023. The authorities provided timely policy support to aid the recovery while monitoring closely the financial sector. The external position improved significantly in 2023 and was broadly in line with fundamentals and desirable policies.
The outlook is favorable despite elevated—mostly global—uncertainty. Real GDP growth is projected around its long-term trend of 5 percent in 2024 and thereafter, with inflation around its (4±1 percent) target. The current account deficit, expected to be fully financed by FDI, is projected to gradually narrow over the medium term. Downside risks dominate in the near‑term term—including tighter for longer monetary policy in the U.S., intensification of regional conflicts, or extreme local weather events—but are broadly balanced over the medium term, including upside risks if reforms are successfully implemented. Existing buffers, further contingency planning, and agile sound policy making can help face adverse shocks.
In the near term, policy priorities should remain focused on maintaining macroeconomic and financial stability, including further flexibility of the exchange rate. Monetary policy normalization can continue, given remaining economic slack and that inflation is firmly within the target range. Efforts to expedite the recapitalization of the central bank to reinforce its autonomy should remain a priority. Endeavors should continue to deepen the FX market, expand the use of hedging mechanisms and limit FXIs to large shocks that lead to destabilizing changes in hedging and financing premia to support further exchange rate flexibility, and therefore further enhance the effectiveness of the inflation targeting framework. While international reserves are broadly adequate based on traditional metrics, further reserve accumulation is necessary to increase buffers to deal with future shocks.
Fiscal policy should remain focused on rebuilding buffers and critical spending needs. The fiscal responsibility law and its planned implementation are welcomed and are important steps to better anchor medium-term policies and further secure debt sustainability. The authorities’ planned gradual fiscal consolidation, consistent with this law, is appropriate to place debt on a firmly downward path and build fiscal buffers. An integral fiscal reform that durably raises revenues—through elimination of tax exemptions and expansion of the tax base—and improves spending efficiency—especially by reducing electricity sector subsidies and untargeted transfers—is imperative. This can provide space for needed development spending (including disaster-resilient infrastructure) to promote inclusive growth.
The financial sector remains resilient and well capitalized, and efforts to bring the regulatory framework up to the latest international standards should continue. The sector weathered well the period of high interest rates and slower growth in 2023. Stress tests show that the banking sector can absorb a range of shocks. Continued close monitoring to contain any build‑up of vulnerabilities remains warranted amid higher for longer interest rates and past increases to credit growth. The modernization of the financial and prudential regulatory framework, alongside the expansion of the macroprudential toolkit, and closing regulatory/supervisory gaps (including for savings and loans cooperatives) will further increase financial sector resilience.
Ongoing efforts to improve public institutions and the business climate are essential to maintaining the strong investment and growth trajectory. The fiscal policy framework, and spending and revenue efficiency can be further enhanced by continued improvements to public financial management and further strengthening of revenue administration. Reforms to education and the labor market, alongside further improvements to social outcomes and implementation of climate adaptation and mitigation policies will be critical to support inclusive and resilient growth and continue to reduce vulnerabilities. The authorities should continue in their efforts to fully implement the Electricity Pact.
Sources: National authorities; World Bank; and IMF staff calculations.
1/ Latest available.
2/ The consolidated public sector includes the budgetary central government (CG); the rest of the Non-Financial Public Sector, i.e., extra-budgetary central government institutions (decentralized and autonomous institutions), social security funds, local governments and non-financial public companies; and the quasi-fiscal central bank debt. With the dissolution of the state electricity holding company (CDEEE) in 2022, the deficit of CDEEE from 2019 was transferred to the CG.
3/ Excluding reserves.
[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.
[2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.
Washington, DC: An International Monetary Fund (IMF) mission led by Mr. Ricardo Llaudes issued a statement following in person and virtual discussions with the Honduran authorities on policies to support the authorities’ economic program:
“The Fund team welcomes the adoption by the Council of Ministers of Honduras of the 2025 draft Budget Bill. The draft Budget is in line with the authorities’ economic program supported by the IMF, providing space for critical social and infrastructure spending.
“In addition, productive discussions, both virtual and in person, have taken place over the past months on economic policies to safeguard Honduras’ domestic and external stability, paving the way for a program review mission planned for the first half of October.”
Washington, DC: On September 10, 2024, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation discussions[1] with the Kingdom of the Netherlands—Curaçao and Sint Maarten and endorsed the staff appraisal without a meeting on a lapse-of-time basis[2]. These consultation discussions form part of the Article IV consultation with the Kingdom of the Netherlands.
Context. Curaçao and Sint Maarten have continued to experience a vigorous post-pandemic recovery underpinned by strong stayover tourism, which is outperforming Caribbean peers. Headline inflation has declined rapidly led by international oil price developments, notwithstanding a recent uptick, while core inflation remains elevated. In both countries, current account deficits improved markedly from pandemic years but remain high. Fiscal positions remained strong and in compliance with the fiscal rule. The landspakket, the structural reform package agreed with the Netherlands in 2020, continues to guide both countries’ reform agenda.
Curaçao outlook. Growth is expected to accelerate in 2024 before gradually converging to its potential over the medium term. Stayover tourism supported by fiscal expansion is projected to drive economic growth at a robust 4.5 percent in 2024 due to new airlifts and further expansion in hotel capacity. Growth is then expected to moderate to reach 1.5 percent over the medium term, given subpar investment and productivity growth coupled with sustained population decline and beginning saturation in tourism flows, assuming no further reforms and diversification. Headline inflation is projected to decline mildly to 3.2 percent in 2024 from 3.5 percent in 2023, but to continue falling towards its steady state of around 2 percent by 2027 reflecting international price developments. Fiscal balances would be guided by the fiscal rule and debt would continue to decline, while surpluses narrow as investments return and social spending pressures mount. The current account deficit is expected to improve in the medium term but would remain elevated.
Sint Maarten outlook. Growth is expected to moderate in the medium term as tourism recovery and the reconstruction taper off. Growth is expected to be 2.7 percent in 2024 and 3 percent in 2025, supported by a delayed recovery in cruise passengers towards pre-pandemic levels. However, the near-term outlook is threatened by the electricity load shedding (since June) and political instability. From 2026 onwards, growth is expected to gradually converge towards 1.8 percent as the stimulus from the reconstruction peters out, and tourism growth becomes constrained by the island’s carrying capacity and ailing infrastructure. Inflation is expected to remain broadly contained while remaining vulnerable to international price developments. Over the medium term, the government will continue to comply with the golden fiscal rule and capacity constraints will continue to weigh on public investment.
Monetary Union. Monetary policy is appropriately targeted towards maintaining the peg. Efforts to absorb excess liquidity should continue while closely monitoring developments in core inflation driven by tourism-related services. The financial sector is sound and risks to financial stability have substantially diminished as the CBCS advances its reform agenda. Banks are highly liquid and adequately capitalized and systemic risks are contained. Building on the CBCS’s strong progress in strengthening supervisory and regulatory capacity, and the recent resolution agreement for ENNIA, staff welcomes CBCS’s continued efforts in its reform agenda, including financial stability and crisis management.
Curaçao’s economy successfully embraced the pivot towards tourism-led growth, giving rise to a strong near-term outlook. After losing key traditional industries, Curaçao quickly and successfully leveraged its tourism potential to grow, attract new hotels, and create jobs. While this is serving the economy well in the near term – growth is projected to accelerate to 4½ in 2024 – structural shifts have started to emerge, including a low-skilled, informal recovery of the labor market amidst low investment in non-tourist sectors. Growth is expected to moderate over the medium term given saturation in tourism flows, sustained population decline, and subpar investment. Notwithstanding the economy’s recent overperformance, inflation declined significantly and only reversed some of its gains recently on the back of higher international oil prices and unfavorable base effects. Inflation is expected to gradually converge towards its steady state rate of around 2 percent. Fiscal policy remains guided by the fiscal rule, albeit past surpluses are expected to unwind, allowing for the reversal of pandemic wage cuts and a return of public investments. The current account markedly improved thanks to lower oil prices but the deficit remains elevated.
Risks to the outlook are broadly balanced. Growth slowdown in major economies could negatively impact tourism receipts, while positive surprises could boost foreign demand. Domestically, a successful expansion of renewable energy and faster-than-expected development of hotel capacity and yachting marinas would boost growth, while delays in public investment and more persistent core inflation could dent tourist experience and competitiveness.
Efforts to safeguard recently created fiscal space are welcome. Overall surpluses in 2022 and 2023 helped reduce debt and granted access to favorable financing terms from the Netherlands. Safeguarding this space and avoiding procyclical impetus is warranted, including through more gradual unwinding of pandemic wage cuts in 2024, prudent liquidity management to repay a bullet loan in 2025, and general efforts to strengthen tax administration, review procurement and domestic arrears management, and streamline transfers to public entities. Ensuing room for maneuver could be used for priority investments, including for climate adaptation, guided by a medium-term fiscal framework steering towards the island’s debt anchor.
Healthcare and pension reforms are needed to lock in a sustainable expenditure path and mitigate medium-term fiscal risks. Growing health and old-age pension deficits, exacerbated by an aging population, pose risks to the sustainability of public finances. Recent initiatives to incentivize the use of generics and raise the pension age are commendable, and more needs to be done to put the system on a sustainable path. Staff sees a broad range of efficiency gains in health spending, including lowering pharmaceuticals and laboratory costs and enhancing primary care’s gatekeeping role. Reforms on the revenue side, including broadening the contributor base and increasing co-payments, are politically more difficult.
Sustaining the positive growth momentum in the medium term requires investments in capital and labor and resolving existing growth bottlenecks. First, moving up the value chain with high-end resorts and complementary recreational activities would help sustain valuable income growth from tourism but requires scaling up investments in infrastructure and deregulating the transportation sector. Second, further investments in electricity grid and energy storage, as well as a revised pricing strategy, are needed to accompany the ongoing energy transition and reap its vast benefits, including lower fuel imports, emissions, and electricity prices. The envisaged floating offshore wind park for hydrogen production would be a game changer for the island. Boosting public investment to achieve these objectives, however, requires ramping up capacity in planning and execution. Third, to further stimulate growth and offset the sustained population decline, formal labor markets and skills would need to be strengthened. And fourth, continued improvements in the business climate in line with the landspakket’s economic reform pillar could help overcome decade-low productivity growth.
Important strides in reducing ML/FT vulnerabilities are welcome and could be built upon. The draft online gaming law, implementation of risk-based supervision, and a new law to address EU grey listing and enable automatic information exchange represent important strides in enhancing Curaçao’s defenses against ML/FT and related reputational risks. Curaçao can further improve upon these important accomplishments, including by passing and implementing the aforementioned legislations in a timely manner and enhancing coordination and monitoring across relevant agencies.
Sint Maarten
Near-term growth is strongly anchored but preserving the positive momentum hinges on investments to revamp an ailing infrastructure and improve tourism’s value added. The economic recovery is well underway, underpinned by tourism recovery and the reconstruction. GDP is expected to surpass its pre-Irma level in 2025. However, without investments to upgrade an ailing infrastructure, growth will falter as the island approaches its maximum carrying capacity. Strategies should continue to focus on enhancing tourist’s experience, differentiating from other Caribbean destinations, and improving tourism’s value added.
A comprehensive strategy is required to durably resolve the electricity crisis. Mobile electricity generators have been leased and efforts to replace old engines are underway. Once the immediate crisis is resolved, efforts should be devoted towards developing a detailed masterplan for the energy transition with targets, projects, costing, timeline, and a comprehensive assessment of ancillary investments. The Trust Fund could receive a new mandate, beyond 2028, to operate as a public investment agency in charge of planning, securing the financing, and implementing plans for the energy transition.
Revenue mobilization efforts are essential to ensure fiscal sustainability. Plans to lower tax rates, to make the country more competitive with neighboring islands, should be avoided as this would reduce government’s revenues and endanger fiscal sustainability. Instead, additional revenues are required to satisfy the fiscal rule, service loans with the Netherlands, raise public wages to attract and retain talent, increase transfers to cover public health costs, and clear public arrears with the SZV. Envisaged reforms to enhance the tax administration and to digitize and interface government systems should be complemented with plans to i) tax casinos’ profits, turnover, and winnings; ii) enforce the lodging tax on short-term rentals, and income and profit tax on the proceeds from such rentals; iii) update the price of land leases; and iv) institute a tourist levy at the airport.
Without reforms, the healthcare and pensions funds are unsustainable. Health premiums and government transfers are insufficient to cover health costs, which are being cross-financed with pension savings. With unchanged policies, given population aging and rising administrative costs, both health and pensions funds will run deficits by 2027, and the SZV would deplete its liquid assets by 2027. By 2030, the government would need to transfer about 4 percent of GDP per year to sustain the system. Reforms are urgently needed to contain health costs including: i) introducing the General Health Insurance, ii) rationalizing benefits, iii) extending the use of generics, iv) optimizing referrals, v) strengthening preventing care, and vi) adopting out-of-pocket payments. Given the rapid pace of population aging, additional measures such as increasing the contribution rates and linking the retirement age to life expectancy, should also be considered.
Strengthening the implementation of AML/CFT measures is necessary to increase effectiveness of the AML/CFT regime. Laws for an effective AML/CFT framework were approved but their implementation is lagging. UBO registration is yet to begin, while the investigation and prosecution of suspicious activities is lacking. Granting the FIU full independence to investigate and prosecute cases, and increasing its budget for recruitment and operations could strengthen the AML/CFT framework.
The Monetary Union of Curaçao and Sint Maarten
The current account deficit is expected to improve in the medium term but would remain elevated, while international reserves are expected to remain broadly stable. Large CADs in both countries are expected to improve and remain well-financed, leading to a stable and broadly adequate level of international reserves over the medium term. Curaçao’s external position is assessed to be weaker than implied by fundamentals and desired policy settings due to an elevated CAD and sustained appreciation of the real effective exchange rate, while that of Sint Maarten is considered in line with fundamentals and desired policy settings.
Monetary policy is appropriately targeted towards maintaining the peg. In line with global monetary policy tightening, the CBCS increased its benchmark rate during 2022-23 and has kept it unchanged since September 2023. Efforts to absorb excess liquidity should continue while closely monitoring developments in core inflation driven by tourism-related services. Even though credit growth declined further and reached negative territory in real terms amidst monetary tightening, the transmission mechanism of monetary policy remains weak. Structural factors include the absence of interbank and government securities markets. The continued increase in mortgages, the only credit component to display growth, was accompanied by a broadly stable loan-to-value ratio on aggregate, albeit more granular data is needed to monitor potential vulnerabilities. Further acceleration in mortgage credit could warrant introducing a macro prudential limit below the currently by banks self-imposed ratio.
The financial sector is sound and risks to financial stability have substantially diminished as the CBCS advances its reform agenda. Banks are highly liquid and adequately capitalized and systemic risks are contained. Near-term risks to financial stability have substantially diminished with the agreement for a controlled wind-down of ENNIA and the start of the restructuring process, as well as the CBCS’s continued improvements in supervision, regulation, and governance. Staff welcomes CBCS’s initiatives to establish a financial stability committee, further refine stress-testing, and enhance crisis management capacities, including lender of last resort and a deposit insurance scheme.
Table 1. Curaçao: Selected Economic and Financial Indicators, 2020–25
(Percent of GDP unless otherwise indicated)
2020
2021
2022
2023
2024
2025
Prel.
Prel.
Prel.
Prel.
Proj.
Real Economy
Real GDP (percent change)
-18.0
4.2
7.9
4.2
4.5
3.5
CPI (12-month average, percent change)
2.2
3.8
7.4
3.5
3.2
2.4
CPI (end of period, percent change)
2.2
4.8
8.4
3.1
3.2
2.4
GDP deflator (percent change)
2.2
3.8
4.0
3.5
3.2
2.4
Unemployment rate (percent) 1/
13.1
13.5
7.2
7.0
6.9
6.6
Central Government Finances 2/
Net operating (current) balance
-15.0
-10.6
0.7
0.6
0.0
0.5
Primary balance
-13.2
-8.8
2.0
2.5
2.0
1.9
Overall balance
-14.5
-10.0
1.0
1.3
0.1
0.5
Central government debt 3/
87.1
90.3
81.6
70.8
65.4
61.1
General Government Finances 2, 4/
Overall balance
-15.7
-10.4
0.3
0.9
-0.3
-0.1
Balance of Payments
Current account
-27.2
-18.6
-26.8
-19.7
-17.9
-16.5
Goods trade balance
-37.0
-41.6
-47.9
-38.3
-40.4
-39.9
Exports of goods
10.7
12.5
18.0
16.9
16.5
16.2
Imports of goods
47.7
54.1
65.9
55.2
56.9
56.1
Service balance
9.6
21.7
20.5
18.4
22.6
23.7
Exports of services
29.3
37.2
48.6
46.6
50.3
51.3
Imports of services
19.7
15.6
28.1
28.2
27.7
27.6
External debt
197.3
194.8
180.9
177.1
169.1
164.0
Memorandum Items
Nominal GDP (millions of U.S. dollars)
2,534
2,740
3,075
3,318
3,578
3,789
Per capita GDP (U.S. dollars)
16,492
18,135
20,648
22,160
23,775
25,065
Credit to non-government sectors (percent change)
0.1
-9.7
3.2
2.5
…
…
Sources: The Curaçao authorities and IMF staff estimates and projections.
1/ Staff understands that the unemployment rate of 7.0 percent published in the 2023 Census data is not comparable to the historically published unemployment rates from the labor force survey by the Curacao Bureau of Statistics. As such, staff estimated the unemployment rate and overall labor force for the period of 2012 to 2022. Staff understands that the Curacao Bureau of Statistics intends to revise the historical series in the near future.
2/ Defined as balance sheet liabilities of the central government except equities. Includes central government liabilities to the social security funds.
3/ Budgetary central government consolidated with the social security fund (SVB).
4/ The latest available datapoint is as of 2018. Values for 2019-2023 are IMF staff estimates based on BOP flow data.
Table 2. Sint Maarten: Selected Economic Indicators 2020–25
(Percent of GDP unless otherwise indicated)
2020
2021
2022
2023
2024
2025
Est.
Est.
Est.
Est.
Proj.
Real Economy
Real GDP (percent change) 1/
-20.4
7.1
13.9
3.5
2.7
3.0
CPI (12-month average, percent change)
0.7
2.8
3.6
2.1
2.5
2.3
Unemployment rate (percent) 2/
16.9
10.8
9.9
8.6
8.5
8.2
Government Finances
Primary balance excl. Trust Fund operations 3/
-8.7
-5.4
-0.6
1.5
0.9
0.9
Current balance (Authorities’ definition) 4/
-9.6
-6.3
-1.5
0.5
-0.1
0.0
Overall balance excl. TF operations
-9.3
-5.9
-1.1
1.0
0.2
0.2
Central government debt 5/
56.1
55.3
49.3
49.0
46.2
44.1
Balance of Payments
Current account
-25.5
-24.6
-3.9
-7.5
-7.8
-3.0
Goods trade balance
-40.7
-49.8
-59.2
-59.3
-62.4
-60.5
Exports of goods
11.8
11.4
14.1
14.8
13.1
11.2
Imports of goods
52.4
61.2
73.2
74.1
75.5
71.7
Service balance
20.2
33.1
62.8
60.3
62.6
65.2
Exports of services
34.4
51.0
78.7
81.4
81.5
83.9
Imports of services
14.3
17.9
15.9
21.1
18.9
18.7
External debt 6/
274.3
253.7
213.6
206.3
200.8
194.0
Memorandum Items
Nominal GDP (millions of U.S. dollars)
1,141
1,268
1,479
1,563
1,645
1,733
Per capita GDP (U.S. dollars)
26,796
29,646
34,437
36,088
37,570
39,160
Credit to non-gov. sectors (percent change)
2.4
1.3
4.5
1.0
…
…
Sources:
1/ Central Bank of Curacao and Sint Maarten and IMF staff estimates.
2/ The size of the 2022 labor force reported by the 2023 Census was adjusted to ensure consistency with the reported total population.
3/ Excludes Trust Fund (TF) grants and TF-financed special projects.
4/ Revenue excl. grants minus interest income, current expenditure and depreciation of fixed assets.
5/ The stock of debt in 2018 is based on financial statements. Values in subsequent years are staff’s estimates and are higher than the values under authorities’ definition in quarterly fiscal reports.
6/ The latest available datapoint is as of 2018. Values for 2019-2022 are IMF staff estimates based on BOP flow data.
[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.
[2] The Executive Board takes decisions under its lapse-of-time-procedure when the Board agrees that a proposal can be considered without convening formal discussions.
[3] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.
The Executive Board of the International Monetary Fund completed the seventh review under the Extended Fund Facility (EFF) arrangement for Suriname, allowing for an immediate purchase equivalent to SDR 46.7 million (about USD 63 million) of which SDR 19.1 million or about USD 25.8 million would be for budget support.
The authorities’ commitment to maintaining prudent macroeconomic policies and implementing difficult reforms are yielding positive results: the economy is growing, inflation is coming down, international bond spreads are at record lows, and investor confidence is returning.
Building on the progress made thus far under the program, the authorities should entrench fiscal discipline, particularly in the run up to the elections while protecting the poor and vulnerable. Persevering with structural reforms to strengthen institutions and address governance weaknesses is also critical.
Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the seventh review under the Extended Fund Facility (EFF) arrangement for Suriname. The completion of the review allows the authorities to draw the equivalent of SDR 46.7 million (about USD 63 million), bringing total program disbursement to SDR 337.1 million (about USD 455 million). In completing the review, the Executive Board approved the authorities’ request for a waiver of non-observance of the end-June 2024 performance criteria on the central government primary balance based on the corrective actions the authorities have already taken.
Suriname is implementing an ambitious economic reform agenda to restore macroeconomic stability and debt sustainability, while laying the foundations for strong and more inclusive growth. The program includes policies to restore fiscal and debt sustainability, protect the poor and vulnerable, upgrade the monetary and exchange rate policy framework, address banking sector vulnerabilities, and advance the anti-corruption and governance reform agenda. These policies are supported by the EFF arrangement, which was approved by the Executive Board on December 22, 2021 (see Press Release No. 21/400), in an amount equivalent to SDR 472.8 million (366.8 percent of quota).
Following the Executive Board discussion on Suriname, Mr. Kenji Okamura, Deputy Managing Director, and Acting Chair, issued the following statement:
“The authorities’ reforms under the EFF-supported program are being increasingly reflected in macroeconomic stability and improving investor confidence. The economy is growing, inflation is declining, international bond spreads have reached historic lows, and donor support is increasing.
“The near-term priority is to reinforce the planned fiscal consolidation and protect the vulnerable from the burden of the adjustment. Phasing out electricity subsidies and strengthening tax administration will help create fiscal space for higher social assistance and infrastructure spending. Fully implementing the recently finalized social assistance reform plan will make social programs more efficient and effective. Strengthening commitment controls and addressing weaknesses in cash management will contain public spending and prevent accumulation of supplier arrears.
“The debt restructuring process is nearing completion. Bilateral agreements with all official creditors and most commercial creditors have been achieved. Domestic debt arrears have been cleared.
“A tight monetary policy is supporting disinflation. Implementing the recently-finalized plan for central bank recapitalization will strengthen the central bank’s operational and financial autonomy. The authorities’ demonstrated commitment to a flexible, market-determined exchange rate is supporting international reserve accumulation. Timely implementation of recapitalization plans for commercial banks that do not meet regulatory capital requirements will bolster financial sector resilience.
“The authorities should persevere with their ambitious structural reform agenda to strengthen institutions, address governance weaknesses, build climate resilience, and improve data quality. This important work will continue to be supported by capacity development from the Fund and other development partners.”
TOPEKA—Applicants who successfully passed the Kansas bar examination will be sworn in as Kansas attorneys at 9:30 a.m. Friday, September 27, in Topeka.
The ceremony will take place at The Beacon at 420 SW 9th St.
New attorneys can choose to be sworn in during the ceremony Friday or at another time by a state or federal judge.
Chief Justice Marla Luckert will preside over the Supreme Court, and District Judge Toby Crouse will represent the U.S. District Court for the District of Kansas.
Doug Shima, clerk of the Kansas appellate courts, will administer the state oath. Traci Anderson, a clerk from the U.S. District Court for the District of Kansas, will administer the federal oath.
New attorneys
New attorneys eligible to be sworn in, listed alphabetically by county, are:
Barton
Clarissa Noelle Ratzlaff, Great Bend Jack Leander Roenne, Great Bend
Butler
Hayley Ann Koontz, Benton
Cherokee
Addison Alese Tucker, Galena
Cowley
John Michael Taylor, Atlanta Christin Dunnell Smith, Winfield
Douglas
Madisyn Dianne Schmitz, Eudora Michael Aaron Archer, Lawrence Elm P. Beck, Lawrence Damien James Burger, Lawrence Chad Josiah Cook, Lawrence Jackson Scott de la Garza, Lawrence Rosston Joseph Eubank, Lawrence Anna Christine Hedstrom, Lawrence James Andrew Henderson, Lawrence Natalie Alison Jabben, Lawrence Carter Michael Jones, Lawrence Makaylah Lynn Jones, Lawrence Jared James Lenz, Lawrence Sarah Kathryn Lynch-Chaput, Lawrence Jillian Elizabeth Roy, Lawrence Isabela Guadalupe Solorio, Lawrence Collin Winslow Studer, Lawrence Chloe Ann Thompson, Lawrence Trace Lee Tobin, Lawrence Elijah Jeffrey Waugh, Lawrence Hudson David Weaver, Lawrence
Ellis
Brianna Kay Brin, Hays
Ford
Nichole Marie Byer, Dodge City
Harvey
Destiny Dawn Denney, Newton
Johnson
Mandi Michelle Abbott, Leawood Megan Elizabeth Gannon, Leawood Madisen Kate Hane, Leawood Benjamin Richard Baker, Lenexa Annie Elizabeth Birney, Lenexa Drew Elizabeth Davis, Lenexa Juliana Mare Herrera, Lenexa Emily Hope O’Donnell, Lenexa Samuel Alejandro Sketers, Lenexa Lucas Ryan Zoller, Lenexa Cinthia Terrazas, Mission Dilini Lankachandra, Mission Hills Madeline Lizette Ames, Olathe Tristin Andrieu Lewis Dierking, Olathe Isaiah Cole Eaton, Olathe Morgan Renee Hood, Olathe Kelsey Danielle Saunders, Olathe Lindsay Marie Barash, Overland Park Brooke Ashton Brownlee, Overland Park Cody Von Byrd, Overland Park Wangxue Deng, Overland Park Makenzie Ryan Fankhauser, Overland Park Emily Rosalyn Featherston, Overland Park Jamie Elizabeth Gallagher, Overland Park Richard Ryan Love, Overland Park Alden John Vogel, Overland Park Molly Sue Wackerly, Overland Park Tiffany Lauren Wylde, Overland Park Caitlin Daly McPartland, Prairie Village Julea Miranda Pina, Prairie Village Elizabeth Grace Rohr, Prairie Village Monica Sandu, Prairie Village Andrew Dean McLandsborough, Roeland Park Caroline Maria Rene McCord, Shawnee Nicholas Christopher Kaechele, Spring Hill Caitlin Alyse Kremer, Spring Hill
Leavenworth
Angelique Joeann Margve, Basehor
Lyon
Nickolas Reid Velo, Emporia
Pottawatomie
Daniel Mark Frazier, Saint Marys Margaret Elizabeth Shermoen, Wamego
Riley
Carolo Dionicio Gonzalex, Manhattan Joseph Logan Hoover, Manhattan Candice Lea Wilson, Manhattan
Saline
Emma Rose Dipota, Salina William David Strommen, Salina
Sedgwick
Michael Dee Vinson, Derby Michael Roy Van Deest, Maize Gabrielle Christine Altenor, Wichita Joel Geoffrey Amend, Wichita Leslie Nichole Anderson, Wichita Cameron Joseph Edens, Wichita Brooke Stanton Flucke, Wichita Baron Jack Hoy, Wichita Sophia Ana Padgett, Wichita Caitlin Corrine Riffer, Wichita Makaela Breanne Stevens, Wichita Ethan John Ward, Wichita
Shawnee
Joshua Nolan Becker, Topeka Loretta Anne Caballero, Topeka Jacob Wendell Cibulka, Topeka Kiley Jan-Elizabeth Deain, Topeka Andrew Zachary Foreman, Topeka Edgar Fuentes, Topeka Quinn McLean Hughes, Topeka William Elliot Woody Naeger, Topeka Dylan James Pryor, Topeka Jacob Christian Alexander Reaves, Topeka Carly Paige Steward, Topeka Megan Kristine Walden, Topeka Gabriel Reece Walker, Topeka
Wyandotte
Olivia Leigh Banes, Bonner Springs Bailey Hannah Baker, Kansas City
_______________
Arizona
Noel Kenmadu Ahaneku, Maricopa Chance Matthew Berndt, Phoenix
Colorado
Emily Jean Marie McCurley, Larkspur
Florida
Bryna Rachelle Faimon, Pensacola
Iowa
Spencer Ray Mitchell, University Heights
Missouri
Samantha LeAnn Mishler, Independence Kevin Christopher Birzer, Kansas City Austin Marcus Polina, Kansas City Brien Charles Stonebreaker, Kansas City Vincent Cyrus Amiri, Kearney Kyleigh Jo Rupe, Lee’s Summit
New York
Rebecca Rachel Halff, New York
Oklahoma
Paige Elizabeth Harding, Afton
South Carolina
Zachary Christian Freeman, Aiken
Virginia
Cody Grant Hoagland, Concord Alisha Deanna Mehdi, Herndon
TORONTO , Sept. 24, 2024 (GLOBE NEWSWIRE) — AGF Management Limited (TSX: AGF.B), is pleased to announce a partnership with Archer Holdco, LLC (“Archer”) to help further grow its Separately Managed Accounts (SMA) model business.
AGF will leverage the technology capabilities and infrastructure of Archer, a leading technology-enabled service provider to the investment management industry.
“We believe Archer will be a key partner as our SMA model business continues to gain momentum and we look to broaden our product offerings and onboard additional investment strategies throughout North America,” said Judy Goldring, President and Head of Global Distribution, AGF Management Limited. “While focusing on new opportunities, we will benefit from Archer’s expertise as they support our business with solutions aligned to meet our evolving needs and our continued growth.”
“At Archer, we are committed to partnering with leading asset managers to help build their business through our customized service model,” said, Bryan Dori, President and CEO of Archer. “We look forward to developing our relationship with AGF as the firm leverages our expertise in operations and technology to grow and support their SMA presence.”
Several leading investment strategies are currently available on the following SMA platforms: Envestnet Asset Management, Inc., Vestmark Advisory Solutions Inc. and SMArtX Advisory Solutions LLC.
As well, the AGF Global Select ADR Constrained Strategy was recently named the winner in the Global category at the SMArtX 2024 X Awards* and AGF U.S. Large Cap Growth Equity Strategy was named a finalist in the Large Cap category.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.
AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.
Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $50 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
About AGF Investments
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.
AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.
About Archer
Archer is a technology-enabled service provider that helps investment managers deliver solutions aligned with investor needs. With Archer, investment managers can maintain their proven investment process while outsourcing operations and technology to benefit from a service model geared for growth. Archer has expansive connectivity across the industry and deep experience working with asset managers to help them swiftly streamline operations, enter new distribution channels, and launch new products.
Candidates for the Awards are derived from the SMArtX Select List, which ranks asset managers using a proprietary quantitative screening based on a robust four-step methodology:
Ability to generate alpha compared to the strategy peer group benchmark
Favorable risk-adjusted returns that emphasize positive skew
Effective downside and tail-risk management
Consistent return generation
The Awards calculations add an additional metric to this existing quantitative screening, namely performance exclusive to the full previous year. This year, 30 eligible strategies competed with winners ultimately chosen across 10 categories. These categories are grouped by market capitalization, geographic focus, and investment type.
AGF Investments America Inc.’s AGF Global Select ADR Constrained Strategy was awarded SMARTX’s X award in the Global category on May 29, 2024. The award was a based on the SMARTX methodology above for the period ending December 31, 2023. AGFA’s AGF U.S. Large Cap Growth Equity Strategy was also a finalist in the Large Cap category.
AGF Investments did not pay or provide compensation to participate in the SMArtX 2024 X Award ranking or to be included in the eligible strategies list.
Commander 3XL to be used as a primary transport vehicle for the TB2 Aerospace DROPS UAV Cargo POD for autonomous tactical resupply
Saskatoon Sask, Sept. 24, 2024 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce that it has received a purchase order from TB2 Aerospace (TB2) for Commander 3XL Drones to be deployed with TB2 Drone Recharging Operational Payload System Pods (DROPS) within the DoD for various mission types. This order represents the beginning of the deployment and scaling of the DROPs system in conjunction with the Draganfly line of drones.
The Commander 3XL will be utilized to carry out various logistics missions. The Commander 3XL is well suited as a transport vehicle, as is the entire Draganfly drone product line for TB2 Aerospace’s smart logistics PODs, as Draganfly Drones are interoperable, providing operators a variety of aircraft size, payload capacity and weight configurations that utilize common communication, counter electronic warfare options, mission planning software, accessories, payloads and more. TB2 Aerospace and Draganfly have collaborated to integrate TB2’s DROPS Pods on Draganfly’s drones, positioning Draganfly as a primary transport vehicle for TB2 Aerospace deployments within the DoD.
“We are honored to be doing this exciting work with TB2 and to have been selected for this important work in the military logistics sector,” said Cameron Chell, CEO of Draganfly. “Draganfly thrives at working to provide exceptional capabilities by integrating our line of drones, experience, and technology stack into mission profiles and use cases with our commercial and military partners—and doing it within time frames and at costs that few others can.”
“We chose Draganfly to be our launch and developmental partner as they have a fantastic series of UAVs,” said Hank Scott, CEO of TB2. “Their aircraft are very stable, easy to fly and set up, and we were impressed by the commonality between their three UAVs. Common controllers, batteries, motors, and parts mean that the DoD can train a Warfighter to operate three different-sized UAVs with a simple, standardized training package. The commonality and interchangeable components will reduce DoD operational and training costs, and standardize the supply chain. Adding the DROPS system will make each of their UAVs a Multi-Mission Payload capable system too. It’s a win-win.”
About Draganfly
Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize how organizations can do business and serve their stakeholders. Recognized as being at the forefront of technology for over 24 years, Draganfly is an award-winning industry leader serving the public safety, agriculture, industrial inspections, security, mapping, and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.
For more information on Draganfly, please visit us at www.draganfly.com. For additional investor information, visit:
TB2 Aerospace from Golden, Colorado, USA is the developer the Drone Recharging Operational Payload System. This system enables a UAV to turn into a Multi-Mission Payload System capable of autonomously capturing, delivering, and recovering Cargo Pod and other payloads such as Weapons Systems and Ground Sensors without the need to place a Warfighter in harm’s way.
Forward-Looking Statements
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements include, but are not limited to, statements with respect to the purchase order positioning Draganfly as a primary transport vehicle for TB2 Aerospace deployments within the DoD. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to: the potential impact of epidemics, pandemics or other public health crises, including the COVID-19 pandemic, on the Company’s business, operations and financial condition; the successful integration of technology; the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of cost estimates; the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions; and liability, competition, loss of key employees and other related risks and uncertainties disclosed under the heading “Risk Factors“ in the Company’s most recent filings filed with securities regulators in Canada on the SEDAR website at www.sedar.com and with the United States Securities and Exchange Commission (the “SEC”) on EDGAR through the SEC’s website at www.sec.gov. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements’ best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Members of the UConn community and the general public are invited to join in a bipartisan conversation about fostering civic and democratic engagement at The Dodd Center for Human Rights at UConn Storrs on Thursday, September 26, 2024, when Congress to Campus comes to UConn.
The flagship program of the nonprofit organization FMC – a bipartisan, voluntary alliance of former U.S. Senators and Representatives who advocate for representative democracy at home and abroad – Congress to Campus offers a unique civic educational experience by engaging honest dialogue with bipartisan teams of former members of Congress, congressional staff, and American diplomats.
“We know from our own work at UConn on programs like Democracy and Dialogues just how powerful it can be to engage in meaningful and civil discussion on the most critical issues we, as a society, are facing,” says James Waller, the inaugural Christopher J. Dodd Chair in Human Rights Practice at UConn and director of Dodd Human Rights Impact Programs, which is hosting the Congress to Campus event.
“We hope that this event will showcase how civil discourse, and even disagreement, can be a productive and healthy part of our democracy,” Waller says.
Congress to Campus sessions have been held on 183 campuses in 43 states and seven countries, reaching more than 57,000 students in the last 10 years alone.
Loretta Sanchez (contributed photo)
UConn’s Congress to Campus event will feature a discussion with the Honorable Loretta Sanchez (D-CA, 1997-2017), a former senior member of the Armed Services and Homeland Security Committees; and the Honorable Fred Upton (R-MI, 1987-2023), a former chairman of the Committee on Energy and Commerce and top Republican leader of the Subcommittee on Energy.
Their discussion will be moderated by NBC Connecticut anchor and reporter Amber Diaz ’11 (CLAS), and UConn President Radenka Maric will deliver welcoming remarks
While visiting UConn, Reps. Sanchez and Upton will also engage with members of the broader community in a series of workshops small group discussions, keynotes, and classroom visits on topics including civil discourse, messaging and disinformation, democracy and human rights, and participation and inclusion.
The event is co-sponsored by UConn’s Gladstein Family Human Rights Institute, School of Public Policy, Department of Political Science, Undergraduate Student Government, Department of Residential Life, Community Outreach, Office of Outreach and Engagement, and the Nancy A. Humphreys Institute for Political Social Work.
Fred Upton (contributed photo)
It’s supported by Citizen Travelers, the nonpartisan civic engagement initiative of Travelers.
“We’re so grateful for our many partners on this event, and we hope students as well as members of our UConn community and the greater public will join us for this important conversation,” says Waller.
The Dodd Center is home to robust academic programs and innovative external engagement in human rights, including the Gladstein Family Human Rights Institute, its Dodd Human Rights Impact Programs, the University Archives and Special Collections, and the Center for Judaic and Contemporary Jewish Life.
The outreach and engagement arm of human rights at UConn, Dodd Human Rights Impact works to develop and support programs and initiatives that seek to directly impact local and global communities by helping them meet their human rights challenges.
Space is limited. Please click here to register for this event.
For more information about Dodd Impact, visithumanrights.uconn.edu/dodd-impact-programs.
Source: Hong Kong Government special administrative region
Public urged to stay vigilant against dengue fever and other mosquito-borne diseases during holidays Public urged to stay vigilant against dengue fever and other mosquito-borne diseases during holidays ******************************************************************************************
With the approach of the National Day holiday, the Centre for Health Protection (CHP) of the Department of Health today (September 24) appealed to members of the public who intend to travel to stay alert to the situation of mosquito-borne diseases in their destinations. In view of the recent increase in dengue fever (DF) activity in neighbouring areas, the CHP specifically reminded members of the public to adopt necessary anti-mosquito precautions to guard against the disease when travelling abroad. From September 1 to yesterday (September 23), the CHP recorded 12 imported DF cases; the patients had been to Guangdong Province (4), India (3), Nepal (2), the Philippines (2) and Malaysia (1) during the incubation period. The CHP has been closely monitoring the latest DF situation in neighbouring and overseas areas. DF is endemic in many tropical and subtropical areas of the world. The latest surveillance data showed that there was a significant increase in DF cases noted in some places in Asia compared to the same period last year. According to information from the Singapore Ministry of Health, a total of 11 847 DF cases have been recorded from January to September 14 this year, which is higher when compared to 6 755 cases recorded in the same period in 2023. In addition, Malaysia has recorded 98 442 cases from January to September 7 this year, which was a 19.3 per cent increase compared to the same period in 2023. According to the Health Commission of Guangdong Province, the number of DF cases recorded in Guangdong Province in the past three months has been increasing, with 233 and 1 220 cases in July and August 2024 respectively. Most of the cases were locally acquired infection. Information from the Guangdong Provincial Center for Disease Control and Prevention further showed that more than 1 400 DF local cases have been recorded in September (as of September 15), with the highest numbers of cases recorded in Foshan, Guangzhou and Zhongshan. According to the World Health Organization, the global incidence of DF has markedly increased over the past two decades, posing a substantial public health challenge. In 2023, ongoing transmissions, combined with an unexpected spike in DF cases, had resulted in close to a historic high of over 6.5 million cases, and more than 7 300 dengue-related deaths reported in over 80 countries/territories. Since the beginning of 2024, the Americas, including Brazil, Argentina and Peru, have recorded over 11 million cases, a record number. Detailed information on the latest DF situation in Hong Kong, as well as neighbouring and overseas countries and areas, has been uploaded to the CHP website (www.chp.gov.hk/files/pdf/df_imported_cases_and_overseas_figures_eng.pdf). A spokesman for the CHP urged members of the public to stay vigilant and adopt appropriate anti-mosquito measures during their travel to prevent DF, as well as other mosquito-borne diseases including Japanese encephalitis, zika virus infection, malaria, etc. The CHP spokesman reiterated that members of the public should follow stringent anti-mosquito measures when travelling. When travelling to areas where vector-borne diseases are common, they may consider to arrange travel health consultation with a doctor at least six weeks before the journey for risk assessment during which the need for any vaccinations, chemoprophylaxis and vector preventive measures will be determined. The following measures on mosquito control could reduce the chance of acquiring mosquito-borne disease during travel:
Wear loose, light-coloured, long-sleeved tops and trousers; Use DEET-containing insect repellent on exposed parts of the body and clothing. For details about the use of insect repellents and the key points to be observed, please refer to ‘Tips for using insect repellents’; and When engaging in outdoor activities, avoid using fragrant cosmetics or skin care products, re-apply insect repellents according to instructions, and apply insect repellents after sunscreen if both are used.
“Returned travellers should consult a doctor promptly if developing symptoms such as fever, respiratory symptoms, rash or painful swelling, and inform the doctor of their travel history for prompt diagnosis and treatment,” the spokesman added. The CHP will continue to monitor the local and overseas situation of infectious diseases and provide the latest information to members of the public in a timely manner for a better understanding of the development of infectious diseases and preparation on precautionary works. For more information, please refer to the CHP website on GAS infection (www.chp.gov.hk/en/healthtopics/content/24/107780.html), DF (www.chp.gov.hk/en/healthtopics/content/24/19.html) and travel health service (www.travelhealth.gov.hk).
Ends/Tuesday, September 24, 2024Issued at HKT 20:00
Data source: U.S. Energy Information Administration, International Energy Agency, and Facts Global Energy
The United States is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components), supplying over 16% of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day (b/d), equivalent to about 10% of domestic consumption and enough to fill up the tanks of over 1.5 million SUVs per day, assuming an average tank size of 24 gallons. Other large gasoline exporters, including Singapore and the Netherlands, have never exceeded 700,000 b/d in gasoline exports. China and India have both added significant refining capacity since 2010 and have also increased gasoline exports.
The United States was a net importer of motor gasoline for over a half century from 1961 to 2015. However, that trend changed during the past decade. The high volume of motor gasoline exports in recent years reflects longer trends in increasing U.S. exports of refined products in general, which set records in 2022 and 2023. The growth in U.S. refined product exports reflects several factors, including generally increasing refinery capacity from 2010 to 2023 and rising production from existing refineries through increased utilization. Much of the increase in refinery capacity has led to higher motor gasoline yields because of added light crude oil processing units that process increasing volumes of light tight oil produced by hydraulic fracturing, or fracking. Finally, although refinery capacity has grown, U.S. consumption of gasoline has not, making more gasoline available for export. Motor gasoline consumption in 2023 was flat compared with 2010 (and 0.4 million b/d less than its peak in 2018).
Data source: U.S. Energy Information Administration
Motor gasoline accounts for the third-largest share of U.S. refined product exports, behind propane and distillate fuel oil. Unlike propane, which is primarily exported to Asia, the majority of U.S. motor gasoline exports (over 500,000 b/d) go to Mexico, with the remainder going primarily to Central American and South American countries. Over 90% of U.S. gasoline exports came from the U.S. Gulf Coast (PADD 3).
AUSTIN, Texas, Sept. 24, 2024 (GLOBE NEWSWIRE) — QuestionPro, a global leader in online survey and research services today announced the agenda and speaker lineup for its annual customer event, XDay 2024 North America. The event takes place Thursday, October 3, 2024 from 9:00 a.m. – 5:00 p.m. (U.S. Central Time) at the Thompson Austin in Austin, Texas. The event features keynotes, in-depth panels, and one-to-one chats with industry leaders on a range of topics related to the future of insights, experience, and delight.
The day begins with opening remarks from Vivek Bhaskaran, QuestionPro’s founder and CEO, whose irreverent personality is combined with deep industry knowledge and vision. He will unveil exciting new products and feature updates across QuestionPro product lines and set the stage for a day of innovation and inspiration.
Bhaskaran is followed immediately by the morning keynote from Dr. Dipul Patadia, a visionary healthcare executive with over 20 years of experience of leadership, innovation and insights. As the Head of Health System Strategy and Innovation at Salesforce, he has been pivotal in aligning technology with the unique needs of health systems. His extensive background, including roles as Chief Medical Officer at hospitals within Ascension and Advocate Health, uniquely equips him with insights into the melding of data, and new trends.
Attendees will benefit from his leadership in national healthcare organizations and advisory roles with multiple healthcare startups. Expect to gain actionable insights into transforming your data, AI-driven empowerment, and leading with human centric data.
Following the morning keynotes will be a series of practitioner-led breakouts featurimg experts who have held senior roles at some of the most recognized brands in the world, including: Microsoft, Twitch, HubSpot, Cost Plus World Market and others. Panels, workshops and keynotes will cover workplace experience; AI in research and experience; deep dives on CX and many others. A full agenda is available via the web at: https://www.questionpro.com/xday/2024/
The afternoon keynote address will be delivered by Tim Sanders, currently the Vice President of Research Insights at G2. He brings a deep understanding of AI, digital transformation, and customer-centric strategies after serving as Vice President of Client Strategy at Upwork and many other prestigious institutions. As an Executive Fellow at Harvard’s Digital Data Design Institute, he drives AI adoption and data-driven business decisions. With a rich history at Yahoo and a bestselling author, Tim’s insights on leadership, digital transformation, and change management are not to be missed.
The event concludes with a rooftop dinner reception at Arriba Abajo, on top of the Thompson Hotel. Arriba Abajo beckons guests with its unique blend of cantina concept and elevated hospitality while captivating guests with its awe-inspiring rooftop patio and pool.
About QuestionPro: Founded in 2006, QuestionPro is a global provider of online survey and research services that help companies make better decisions through data. Our fully integrated online platform includes surveys, research & insights, customer experience (CX) and workforce/employee experience software. We additionally offer polling, journey mapping, employee 360s, and data visualization. Our clientele ranges from small businesses to Fortune 100 companies, who rely on us for insights about customers, employees, and the marketplace. With offices in the US, Canada, Mexico, U.K., Germany, Japan, Australia, the United Arab Emirates and India, we offer customers 24-7 access to highly trained support specialists and engineers. More information is available at www.questionpro.com.
Source: Africa Press Organisation – English (2) – Report:
NEW YORK, United States of America, September 24, 2024/APO Group/ —
The African Development Bank (www.AfDB.org) has urged Development Finance Institutions (DFIs) and other development partners to scale up innovative partnerships and initiatives to build peace and security in Africa, home to eleven of the world’s most conflict-affected states.
Marie-Laure Akin-Olugbade, African Development Bank Vice-President for Regional Development, Integration and Business Delivery Complex led the charge during a session held September 21, on the sidelines of the 79th Assembly of the United Nations titled: Investing in Prevention: Scaling up Peace – A Call to Action for DFIs.
Over the last 20 years, the level of global conflict has escalated, with one-fifth of Africa’s population residing in conflict affected areas, affecting the future of the world’s fastest-growing continent.
“Our goal today is very clear. We would like to mobilise institutions to prioritise peace building and through innovative partnerships and new financial mechanisms. This is a call for action.” Akin-Olugbade said in opening remarks.
The New Agenda for Peace, which is at center stage of the UN’s Summit of the Future, highlights how different actors, including DFIs can serve as peace agents, and emphasises the role of partnerships, especially in the context of fragile and conflict affected countries, urging increased political and financial mobilisation to prevent conflicts.
The effect of three decades of a devastating civil war in Mozambique are still evident, Amilcar Tivane, Mozambique’s Vice-Minister of Economy and Finance told participants, stressing the need for prevention.
The Mozambique government has learned innovative solutions to deal with the root causes of conflict and to address lingering security challenges in northern Mozambique such as terrorism and insurgency. What has worked is a resilience building strategy together with partnerships, Tivane said. The country is also launching a new initiative for peace for the reconstruction of affected tourism areas
« We have learned that prevention is critical, » he said. « Sometimes its difficult (for governments) to acknowledge that the social dimensions could have a significant impact.»
Issa Faye, Director General of the Islamic Development Bank ( IsDB) said his institution’s blend of ordinary and concessional financing has been key to the successful financial support for 32 fragile African countries out of the 52 they support.
The IsDB have aided thousands of refugees through programmes to address skills gap, training and education, combining economic empowerment and food security.
Faye underlined Islamic financing as a concept framing a lot of the institution’s programmes and stressed the need to find alternative financing which is dedicated, responsive and resilient.
Risk perception, another major constraint to financing peace initiatives in Africa, was the subject of Pradeep Kurukulasuriya, the Executive Secretary of the UN Capital Development Fund (UN CDF), submission. He offered a concrete example of successful de-risking of a peace initiative in Burundi.
« UN DCRF works to de-risk so that larger streams of finance can flow from the larger and more established institutions, » he said.
Since 2021, UNCDF has been working in collaboration with the UN Peacebuilding Fund and the Government of Burundi to address interconnected and transnational root-causes of instability and nature loss in the Kibara National Park and surrounding buffer zones. The joint initiative with several partners including UNESCO, uses a unique blended finance approach.
Peace finance needs new a lens
Itonde Kakoma, President of Interpeace said a new paradigm approach, which moved away from the donor focus and instead sees development partners investing in peace investment hubs and creating a pipeline of peace positive projects, is much needed.
He said the need to connect development finance and peace building while leveraging the private sector to build peace, safety and social cohesion between communities living in complex environments, was more imperative than ever.
« We have a conviction that the Sustainable Development Goals can be unlocked by peace finance, » Kakoma said.
Other participants such as Elizabeth Spehar, Assistant Secretary General, United Nations Peacebuilding Support stressed the importance of inclusion and the role of DFI’s such as the African Development Bank.
“We need the economic might of the DFI’s. We have to work on this together,” she said.
Spehar paid tribute to the African Development Bank which emphasizes peace and security as public goods in its new Ten-year strategy (2024-2033). The Bank’s joint pilot project in Central African Republic with UNHCR has the UN “working with communities on the peace part and the African Development Bank working on the employment part,” Spehar said.
The Bank has been on the forefront of systematically addressing issues of fragility in Africa and has built up over 20 years of experience in building Africa’s resilience by providing intellectual leadership and dedicated financial instruments, such as the Transition Support Facility, which mobilizes additional resources for affected countries. The Bank’s Private Sector Credit Enhancement Facility allows it to do more private investments in these riskier markets.
The audience also heard from the g7+, Asian Development Bank, Civil Society Platform for Peacebuilding and Statebuilding (CSPPS), the World Economic Forum (WEF), the Aswan Forum, UNHCR, and the African Union Peace Fund whose Director Dagmawit Moges spoke of the institution’s reforms and the importance of governance.
“We’ve gone beyond theory and talk. We at the African Development Bank are interested in strengthening partnerships. We are not going to work in silos. We are looking forward to continuing this discussion at COP 29 and at the Africa Resilience Forum next year,” Akin-Olugbade said.
It’s been less than six months since Google Cloud Next, and the pace of innovation across industries has been nothing short of extraordinary. We’re proud of our AI leadership and differentiation as we continue pushing the technology frontier for our customers. From launching more powerful versions of Gemini 1.5 Pro, to rolling out general availability for Gemini Flash and Imagen 3, to investing in our Vertex AI platform, our teams have been building off the product momentum of Next. And all of this innovation is driving incredible use of our products.
Today, as part of our Gemini at Work global event, we are showcasing nearly 50 new customer stories from organizations around the world to highlight just how impactful generative AI can be when you put it to work at scale — including Pods, Snap, Volkswagen US, Warner Bros. Discovery and many others. We’re inspired by what customers are building and excited by how quickly they’ve been able to move ideas from experimentation into production with our Vertex AI platform. We’re also seeing major boosts in productivity through Gemini for Google Workspace, with customers saving an average of 105 minutes per user, per week, according to our recent study of enterprise customers.
They can access and customize the best foundation models from both Google and the industry, including Gemini. We are the only Cloud provider to offer widely-used first-party, third-party, and open models. Enterprises want to choose a platform that gives them choice.
They can create sophisticated gen AI agents and experiences faster with our single, integrated development platform, Vertex AI. It sits on top of our world-class infrastructure and is the only unified platform that lets customers discover and access models, tune and augment models, and create, ground, deploy, and manage AI agents and experiences.
They can be more productive with our AI agents. We offer Gemini for Google Cloud and Gemini for Google Workspace, as well as purpose-built agents for Customer Engagement and Search. Customers are really appreciating these packaged agents, in addition to building their own.
They are deploying models with confidence, with the most comprehensive approach to grounding in enterprise truth. This significantly improves response accuracy and completeness, and lets them control their brand voice and customer experience.
Six types of AI agents
We continue to see customers and partners benefiting from AI agents — intelligent systems that go beyond simple chat and predictions, to proactively take actions. What makes AI agents unique is they help achieve specific goals, whether that’s guiding a shopper to the perfect pair of shoes, helping an employee look for the right health benefits, or supporting nursing staff with smoother patient hand-offs during shift changes. We see AI agents centering around six use cases:
Customer agents help make great recommendations
Customer agents work seamlessly across channels including the web, mobile, and point of sale, and can be integrated into product experiences with voice and video.
Bell Canada pioneered using digital agents to provide self-service — improving customer experience and delivering $20 million in cost savings.
Best Buy resolves issues up to 90 seconds faster using automated call summarization.
GoTo Group launched Dira, a Bahasa Indonesia AI-powered voice assistant integrated into their GoPay fintech app. Customers use voice commands and complete tasks like bill payments and money transfers with fewer steps. Check out a live demo of the app from GoTo in this video.
ScottsMiracle-Gro built an AI agent on Google Cloud Vertex AI to provide tailored gardening advice and product recommendations.
Snap deployed the multimodal capability of Gemini within their “My AI” chatbot and has since seen over 2.5x as much engagement within Snapping to My AI in the United States.
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Telecom Italia (TIM) implemented a Google-powered voice agent to address many customer calls, increasing efficiency by 20%.
UPS Capital uses an agent built on Google Cloud technology to analyze package movements, insurance claims, and address data in real time to identify anomalies.
Volkswagen US built a virtual assistant in the myVW app, where drivers can explore their owners’ manuals and ask questions such as, “How do I change a flat tire?” or “What does this digital cockpit indicator light mean?” Users can also use Gemini’s multi-modal capabilities to see helpful information and context on indicator lights simply by pointing their smartphone cameras at their dashboards. Watch how the myVW app works in this demo.
We continue to build on this momentum with our own packaged agents. For example, today we are announcing Customer Engagement Suite with Google AI, an end-to-end application that combines the rich features of our leading Contact Center AI solution with the latest gen AI capabilities.
This new solution offers four key benefits:
Omnichannel features, so you can orchestrate consistent customer experiences across web, mobile, voice, email, and apps with a single platform.
Multimodal approach, so your customers can use text, voice, and images.
Rule-based controls AND generative AI so you can address a broad range of issues that may come up from your customers. For instance, a customer speaking with a bank representative may have to verify their identity through a specific set of verification questions. At the same time, they may ask the bank: “Tell me what’s the best mortgage offering for me? Can you compare it across the products you offer?” The first requires a deterministic flow. The second requires a generative flow.
Grounding to provide the highest levels of accuracy
All of this can be connected with any customer service application — whether it’s a SaaS application like Salesforce, Servicenow, SAP, Dynamics, or Oracle — or an on-premise app.
Employee agents help workers collaborate and get more done
Employee agents can streamline processes, manage repetitive tasks, answer employee questions, as well as edit and translate critical communications.
Click Therapeutics develops prescription digital therapeutics designed to treat disease. Their Clinical Operations team leverages Gemini for Google Workspace to transform complex operations data into actionable insights; so they can quickly pinpoint ways to streamline the patient experience in clinical trials.
Dun & Bradstreet built an email-generation tool with Gemini that helps sellers create tailored, personalized communications to prospects and customers for its research services. They also developed intelligent search capabilities to help users with complex queries like, “Find me all the companies in this area with a high ESG rating.”
Elanco, a world leader in animal health, has implemented a gen AI framework, powered by Vertex AI and Gemini, to support critical business processes, such as Pharmacovigilance, Customer Orders, and Clinical Insights. This has resulted in an estimated ROI of $1.9 million since launching last year.
Randstad is using Gemini for Google Workspace to enhance our relationships internally and externally with candidates, making them more efficient and giving them time back to focus on the human aspect of their work.
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SURA Investments, the largest Asset Manager in Latin America, developed a gen AI-powered analysis model for employees built on Google Cloud that allows them to better understand customer needs. It has already improved sentiment analysis on more than 90% of calls and delivered a 10-point increase in customer satisfaction.
Thomson Reuters added Gemini Pro to its suite of large language models (LLM). The 2 million token context window makes some skills as much as 10x times faster to process and unlocks the ability to create new skills that require the LLM to process entire documents in context
The employee agents we deliver through Gemini for Google Workspace, our leading collaboration and productivity tools, are helping customers get more done, with greater confidence and in less time. In a recent survey of our enterprise customers using Gemini, we found they save an average of 105 minutes per user, per week. And it’s not just about getting more done, but getting it done really well — 75% of daily Gemini for Workspace users say it improves the quality of their work.
To help more people boost productivity with AI, we’re making the Gemini app with enterprise-grade data protection available as part of existing Google Workspace subscriptions. Starting next month, customers will have a round-the-clock brainstorming partner, research assistant, and more, to help where they need it most.
Data agents help you do research and data analysis more effectively
Data agents can help answer questions about internal and external sources, synthesize research, develop new models — and, best of all, help find the questions we haven’t even thought to ask yet, and then get the answers.
Bayer’s Crop Science team developed a Field Answers application built on Vertex AI to make critical, timely decisions in the field, contributing to more sustainable and efficient farming.
The CME Group is building a first-of-its-kind cloud-based commodities trading platform with Google Cloud’s AI tools built in, offering CME’s trading customers access to deeper insights and smarter trades as well as rapid experimentation on new trading strategies that won’t interrupt existing trade flows
Hiscox, one of the oldest syndicates in Lloyd’s of London, used BigQuery and Vertex AI to create the first AI-enhanced lead underwriting model, automating quoting for complex risks, from three days down to a few minutes.
Ipsos, a multinational market research firm, built a data analysis tool grounded in Google Search for its market researchers, eliminating the need for time-consuming requests to analysts.
Intelligencia AI, a healthcare technology company, uses Cloud SQL for Postgres for the data infrastructure that powers its AI-driven drug development predictions, enabling the company to deliver accurate and transparent results to customers, while reducing overhead.
NeuroPace, a medical device company, built a solution using Google Cloud gen AI technologies, to quickly identify effective epilepsy treatment options. By analyzing brainwave patterns, they can find similar patients and apply successful therapies faster.
Warner Bros. Discovery built an AI captioning tool with Vertex AI and saw a 50% reduction in overall costs, and an 80% reduction in the time it takes to manually caption a file without the use of machine learning.
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Security agents significantly increase the speed of investigations
Security agents automate monitoring and response for greater vigilance and compliance controls. They can also help guard data and models from cyberattacks, such as malicious prompt injection.
Apex Fintech has accelerated the creation of complex threat detections, reducing the time required from hours to mere seconds with Google SecOps.
Certify OS is working with Google Cloud to automate credentialing, licensing, and monitoring of medical providers for healthcare networks, relieving the burden of time-consuming and often siloed information.
Fiserv is working with Gemini in Security Operations to summarize threats, find answers, and detect, validate, and respond to security events faster.
NetRise‘s “Trace” product is enabling AI-powered semantic search — built using Google Cloud gen AI — in the software supply chain.
Creative agents can help everyone build design, artistic or production skills
Creative agents can empower organizations with the best design and production skills, working across images, slides, and more. Many businesses are building agents alongside their marketing teams, audio and video production teams, and creative teams to help explore and build creative concepts.
Formula E is using Google Cloud gen AI to summarize two-hour-long race commentary into a two-minute podcast in any language, using driver data and ongoing seasonal storylines.
Globo, the largest media group in Latin America, is using Google Cloud’s AI to hyper-personalize content for its streaming users, and create a better experience for spectators.
PODS, working with advertising agency Tombras, used Gemini to create the “World’s Smartest Billboard,” a campaign on their trucks that could adapt to each neighborhood in New York City. The ads used live feeds of data so they updated in real-time hitting all 299 neighborhoods in just 29 hours creating more than 6,000 headlines.
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PUMA is using Imagen to customize product photos on their website, saving time and ensuring they are locally relevant. Puma India has already seen a 10% increase in click-through rate, and they share how they did it in this demo.
Radisson Hotel Group worked with Accenture and Google Cloud to use Vertex AI and Gemini models to personalize its advertising at scale by training AI models on extensive datasets stored in BigQuery; ad teams saw productivity rise 50% while revenue increased from AI-powered campaigns by more than 20%.
Google’s open platform drives more momentum with partners and customers
The success of AI depends on an open platform that offers choice, is easy to integrate with existing systems, and is supported by a broad ecosystem. Google Cloud works closely with important partners, like Accenture and Deloitte, who report more than 45% of their Google Cloud gen AI projects have moved from proof of concept to production. In addition, expanded partnerships and dedicated Google Cloud centers of excellence with Accenture, BCG, Cognizant, Deloitte, HCLTech, KPMG, McKinsey, PwC, and Wipro have spurred thousands of successful projects. This collaborative ecosystem is the key to unlocking AI’s true potential. At Google Cloud, we truly value our partnership with this ecosystem, which is vital to helping our entire industry in its transformation — from systems updates to organizational change management to an overall mindset shift.
We’re inspired by the ingenuity and speed with which our customers are embracing gen AI. And we continue to work hard to partner with customers to help them deliver real business value in the form of incremental leads, conversions, sales, and profits. We’re committed to taking a bold and responsible approach to make AI helpful for everyone, helping organizations of all sizes solve real-world challenges in entirely new ways.
This is the new way to cloud. It’s a journey we’re on together with all of you — our customers and partners — all around the world.
This post originally appeared on theTransform with Google Cloud blog. It was first published April 12, 2024; last updated with new use cases September 24, 2024.
Since generative AI first captured the world’s attention, there’s been a vigorous discussion about what, exactly, the new technology is best used for. While we all enjoyed those early funny chats and witty limericks, we’ve quickly discovered that many of the biggest AI opportunities are clearly in the enterprise, government, and with exciting new companies.
When we first published this post during Google Cloud Next ‘24, we showcased 101 of the best use cases out of the hundreds featured across the event. Now, we’re adding another 84 to the list as customers across the globe continue to put generative AI to work.
[If you’ve visited this post in the past, you can find the newest use cases listed at the top of each section.]
In a matter of months, organizations have gone from AI helping answer questions, to AI making predictions, to generative AI agents. What makes AI agents unique is that they can take actions to achieve specific goals, whether that’s guiding a shopper to the perfect pair of shoes, helping an employee looking for the right health benefits, or supporting nursing staff with smoother patient hand-offs during shifts changes.
In our work with customers, we keep hearing that their teams are increasingly focused on improving productivity, automating processes, and modernizing the customer experience. These aims are now being achieved through the AI agents they’re developing in six key areas: customer service; employee empowerment; code creation; data analysis; cybersecurity; and creative ideation and production.
Hundreds of Google Cloud customers have now put AI agents and gen-AI solutions into production throughout their businesses and the world — with many seeing a tangible return on investment. They have come to rely on Google Cloud technologies that include our AI infrastructure, Gemini models, Vertex AI platform, Google Workspace, and Google Distributed Cloud.
Here’s a snapshot of how 185 of these industry leaders are putting AI to use today, creating real-world use cases that will transform tomorrow.
Customer agents
Similar to great sales and service people, customer agents are able to listen carefully, understand your needs, and recommend the right products and services. They work seamlessly across channels including the web, mobile, and point of sale, and can be integrated into product experiences with voice and video.
1.Alaska Airlines is developing natural language search, providing travelers with a conversational experience powered by AI that’s akin to interacting with a knowledgeable travel agent. This chatbot aims to streamline travel booking, enhance customer experience, and reinforce brand identity.
2. Bennie Health uses Vertex AI to power its innovative employee health benefits platform, providing actionable insights and streamlining data management in order to enhance efficiency and decision-making for employees and HR teams.
3. Beyond 12, a tech-enabled nonprofit focused on student empowerment, has developed an AI-powered college coach to offer scalable coaching to first-generation students that’s available over text, app, and the web.
4. CareerVillage is building an app called Coach to empower job seekers, especially underrepresented youth, in their career preparedness; already featuring 35 career development activities, the aim is to have more than 100 by next year.
5. Character.ai built its realistic conversational chat platform using the full stack of Google Cloud AI services, including for model training and daily operations, allowing it to manage terabytes of conversations each day without interruption.
6. Click Therapeutics develops prescription digital therapeutics designed to treat disease. Its Clinical Operations team leverages Gemini for Google Workspace to transform complex operations data into actionable insights, so they can quickly pinpoint ways to streamline the patient experience in clinical trials.
7. Formula E can now summarize a two-hour long race commentary into a 2-minute podcast in any language, incorporating driver data and ongoing seasonal storylines.
8. General Motors’ OnStar has been augmented with new AI features, including a virtual assistant powered by Google Cloud’s conversational AI technologies that are better able to recognize the speaker’s intent.
9. Gojek, an Indonesia-based super app, launched “Dira by GoTo AI,” a Bahasa Indonesia AI-powered voice assistant integrated into their GoPay service, allowing customers to use voice command to eliminate typing and scrolling, and complete tasks like bill payments and money transfers with fewer steps.
10. GroupBy, an ecommerce service provider, developed an AI-first Search and Discovery Platform powered by Vertex AI Search for Retail. This solution is meticulously designed to optimize revenue, strengthen brand loyalty, and drive sales growth for B2C and B2B retailers.
11. Hotelplan Suisse built a chatbot trained on the business’s travel expertise to answer customer inquiries in real-time, and, following that success, it plans to use gen AI to create travel content.
12. Justicia Lab is developing an AI-powered assistant that will simplify legal processes for asylum seekers and immigrants; by uploading a picture from a legal letter or document, users can extract valuable information and then receive personalized guidance and next steps.
13. Mercado Libre has incorporated semantic search into its digital shopping platforms, using AI embeddings from the Vertex AI Agent Builder, which greatly improved product recommendations and discoverability for more than 200 million consumers across Latin America.
14. Motorola’s Moto AI leverages Gemini and Imagen to help smartphone users unlock new levels of productivity, creativity, and enjoyment with features such as conversation summaries, notification digests, image creation, and natural language search — all with reliable responses grounded in Google Search.
15. mRelief has built an SMS-accessible AI chatbot to simplify the application process for the SNAP food assistance program in the U.S., featuring easy-to-understand eligibility information and direct assistance within minutes rather than days.
16. Personal AI offers a “personal language model” using only the data of one individual or brand and allowing them to control and own how it is used. Built on your own data, facts, and opinions, it creates a responsive and interactive messaging experience that helps people be more productive and deepen relationships.
17. PODS worked with the advertising agency Tombras to create the “World’s Smartest Billboard” using Gemini — a campaign on its trucks that could adapt to each neighborhood in New York City, changing in real-time based on data. It hit all 299 neighborhoods in just 29 hours, creating more than 6,000 unique headlines.
18. Quora developed Poe, its own generative AI platform for people to discover and chat with AI-powered bots, including Gemini, Anthropic’s Claude, Meta’s Llama, and Mistral’s Large 2 — many of which are hosted on Google Cloud’s purpose-built AI infrastructure.
19. ScottsMiracle-Gro built an AI agent on Vertex AI to provide tailored gardening advice and product recommendations for consumers.
20. Snap has deployed the multimodal capability of Gemini within its “My AI” chatbot and has since seen over 2.5-times as much engagement within Snapping to My AI in the United States.
21. Tabiya has built a conversational interface, Compass, that helps young people find employment opportunities; the platform asks questions and requests information, drawing out skills and experiences and matching those to appropriate roles.
22. Telecom Italia (TIM) implemented a Google-powered voice agent to address many customer calls, increasing efficiency by 20%.
23. UPS Capital launched DeliveryDefense Address Confidence, which uses machine learning and UPS data to provide a confidence score for shippers to help them determine the likelihood of a successful delivery.
24. Volkswagen of America built a virtual assistant in the myVW app, where drivers can explore their owners’ manuals and ask questions, such as, “How do I change a flat tire?” or “What does this digital cockpit indicator light mean?” Users can also use Gemini’s multimodal capabilities to see helpful information and context on indicator lights simply by pointing their smartphone cameras at the dashboard.
25. ADT is building a customer agent to help its millions of customers select, order, and set up their home security.
26. Alaska Airlines is developing a personalized travel search experience using advanced AI techniques, creating hyper-personalized recommendations that engage customers early and foster loyalty through AI-generated content.
27. Best Buy is using Gemini to launch a generative AI-powered virtual assistant this summer that can troubleshoot product issues, reschedule order deliveries, manage Geek Squad subscriptions, and more; in-store and digital customer-service associates are also gaining gen-AI tools to better serve customers anywhere they need help.
28. The Central Texas Regional Mobility Authority is using Vertex AI to modernize transportation operations for a smoother, more efficient journey.
29. Etsy uses Vertex AI training to optimize their search recommendations and ads models, delivering better listing suggestions to buyers and helping sellers grow their businesses.
30. IHG Hotels & Resorts is building a generative AI-powered chatbot to help guests easily plan their next vacation directly in the IHG One Rewards mobile app.
31. ING Bank aims to offer a superior customer experience and has developed a gen-AI chatbot for workers to enhance self-service capabilities and improve answer quality on customer queries.
32. Magalu, one of Brazil’s largest retailers, has put customer service at the center of its AI strategy, including using Vertex AI to create “Lu’s Brain” to power an interactive conversational agent for Lu, Magalu’s popular brand persona (the 3D bot has more than 14 million followers between TikTok and Instagram).
33. Mercedes Benz will infuse e-commerce capabilities into its online storefront with a gen AI-powered smart sales assistant. Mercedes also plans to expand its use of Google Cloud AI in its call centers and is using Vertex AI and Gemini to personalize marketing campaigns.
34. Oppo/OnePlus is incorporating Gemini models and Google Cloud AI into their phones to deliver innovative customer experiences, including news and audio recording summaries, AI toolbox, and more.
35. Samsung is deploying Gemini Pro and Imagen 2 to their Galaxy S24 smartphones so users can take advantage of amazing features like text summarization, organization, and magical image editing.
36. The Minnesota Division of Driver and Vehicle Services helps non-English speakers get licenses and other services with two-way real-time translation.
37. Pepperdine University has students and faculty who speak many languages, and with Gemini in Google Meet, they can benefit from real-time translated captioning and notes.
38. Sutherland, a leading digital transformation company, is focused on bringing together human expertise and AI, including boosting its client-facing teams by automatically surfacing suggested responses and automating insights in real time.
39. Target uses Google Cloud to power AI solutions on the Target app and Target.com, including personalized Target Circle offers and Starbucks at Drive Up, their curbside pickup solution.
40. Tokopedia, an Indonesian ecommerce leader, is using Vertex AI to improve data quality, increasing unique products being sold by 5%.
41. US News saw a double-digit impact in key metrics like click-through rate, time spent on page, and traffic volume to its pages after implementing Vertex AI Search.
42-45. IntesaSanpaolo, MacquarieBank, and Scotiabank are exploring the potential of gen AI to transform the way we live, work, bank, and invest — particularly how the new technology can boost productivity and operational efficiency in banking.
Employee agents
Employee agents help workers be more productive and collaborate better together. These agents can streamline processes, manage repetitive tasks, answer employee questions, as well as edit and translate critical communications.
46. 2bots offers technology solutions, such as chatbots and virtual agents, built with Google Cloud’s AI solutions; these intelligent chatbots and content generation tools are transforming the way companies interact with their customers.
47. Augment is building an AI personal assistant that offers enhanced note-taking and collects information across your apps, including calendar, email, texts, and social media, so users can more quickly and easily find personal information and keep their lives organized.
48. Bayes Impact builds AI products to support nonprofits, and its flagship product, CaseAI, is a digital case manager that integrates with an NGO’s current system to add smart features to draft action plans tailored to a beneficiary’s unique history; caseworkers have saved 25 hours of work per week on average.
49. Bell Canada has built customizable contact center solutions for its business customers that offer AI-powered agents to address callers, and Agent Assist, which listens when a human agent is on, offering suggestions and sentiment analysis. AI has contributed $20 million in savings across customer operations.
50. Best Buy can generate conversation summaries in real time using Contact Center AI, allowing live agents to give their full attention to understanding and supporting customers, resulting in a 30-to-90-second reduction in average call time and after-call work. Both customers and agents have cited improved satisfaction.
51. Camanchaca, a Chilean seafood company, took only six weeks to develop Elon, a virtual assistant that aims to provide more efficient customer service through digital channels, enhancing Camanchaca’s customer interactions.
52. Certify OS is automating credentialing, licensing, and monitoring of medical providers for healthcare networks, relieving the burden of time-consuming and often siloed information.
53. Mark Cuban’s Cost Plus Drugs widely uses Gemini for Google Workspace, estimating that employees are saving an average five hours per week just with AI capabilities in Gmail. Gemini is also streamlining time-consuming, manual processes through uses like AI-generated transcriptions and auto-formatting of pharmaceutical lab results or FDA compliance documentation.
54. Dun & Bradstreet built an email-generation tool with Gemini that helps sellers create tailored, personalized communications to prospects and customers for its research services. The company also developed intelligent search capabilities to help users with complex queries like, “Find me all the companies in this area with a high ESG rating.”
55. England’s Football Association is training Vertex AI on the FA’s historical and current scouting reports so they can be transformed into concise summaries, helping national teams discover future talent.
56. Fireflies.ai can transcribe, summarize, and analyze meetings, recordings, and other voice conversations to save time and improve collaboration and information sharing across teams.
57. Fluna, a Pan-African digital services company, has automated the analysis and drafting of legal agreements using Vertex AI, Document AI, and Gemini 1.5 Pro, achieving an accuracy of 92% in data extraction while ensuring security and reliability for sensitive information.
58. Hemominas, Brazil’s largest blood bank, partnered with Xertica to develop an omnichannel chatbot for donor search and scheduling, streamlining processes and enhancing efficiency. The AI solution has the potential to save half-a-million lives annually by attracting more donors and optimizing blood supply management.
59. Hiscox used BigQuery and Vertex AI to create the first AI-enhanced lead underwriting model for insurers, automating and accelerating the quoting for complex risks from three days down to a few minutes.
60. LiveX AI delivers AI Agents that swiftly enhance product education, boost customer conversion, reduce churn, and provide personalized customer support, with the goal of offering everyone a seamless VIP experience across their customer journey.
61. Opportunity@Work is applying gen AI to scale a suite of software tools and APIs that help employers identify “STAR” job candidates — “skilled through alternative routes” such as community college, military service, and on-the-job experience — helping fill roles in a tight market and expand opportunities.
62. QuantumMetric has introduced Felix AI, powered by Gemini Pro, to simplify digital analytics and decision making. Felix AI automatically summarizes a user’s web or mobile session and consolidates the moments that matter most into short, readable summaries for customer service workers.
63. Randstad, a large HR services and talent provider, is using Gemini for Workspace across its organization to transform its work culture, leading to a more culturally diverse and inclusive workplace that’s seen a double-digit reduction in sick days.
64. Sprinklr built Sprinklr AI+ into its unified customer experience management platform, giving brands gen-AI capabilities for customer service, insights, social media management, and marketing that has enterprise-grade governance, security, and data privacy built-in.
65. Thomson Reuters added Gemini Pro to its suite of large language models approved for employee use; with its 2-million-token context window, Gemini makes some tasks as much as 10-times faster to process and can process entire documents in context.
66. Warner Bros. Discovery built an AI captioning tool with Vertex AI and saw a 50% reduction in overall costs, and an 80% reduction in the time it takes to manually caption a file without the use of machine learning.
67. The U.S. Air Force built a new proof-of-concept portal for searching, browsing, and reading e-published PDFs — all within a 90-day deadline that leveraged the prebuilt tools and speed of Vertex AI Search and Conversation.
68. Avery Dennison empowered their employees with generative AI to enable secure, flexible, and borderless collaboration for enhanced productivity to drive growth.
69. Bank of New York Mellon built a virtual assistant to help employees find relevant information and answers to their questions.
70. Bayer is building a radiology platform that will assist radiologists with data analysis, intelligent search, and to create documents that meet healthcare requirements needed for regulatory approval. The bioscience company is also harnessing BigQuery and Vertex AI to develop additional digital medical solutions and drugs more efficiently.
71. Bristol Myers Squibb is transforming its document processes for clinical trials using Vertex AI and Google Workspace. Now, documentation that took scientists weeks now gets to a first draft in minutes.
72. BenchSci develops generative AI solutions empowering scientists to understand complex connections in biological research, saving them time and financial resources and ultimately bringing new medicine to patients faster.
73. Cintas is using Vertex AI Search to develop an internal knowledge center for customer service and sales teams to easily find key information.
74. Covered California, the state’s healthcare marketplace, is using Document AI to help improve the consumer and employee experience by automating parts of the documentation and verification process when residents apply for coverage.
75. Dasa, the largest medical diagnostics company in Brazil, is helping physicians detect relevant findings in test results more quickly.
76. DaVita leverages DocAI and Healthcare NLP to transform kidney care, including analyzing medical records, uncovering critical patient insights, and reducing errors. AI enables physicians to focus on personalized care, resulting in significant improvements in healthcare delivery.
77. Discover Financial helps their 10,000 contact center representatives to search and synthesize information across detailed policies and procedures during calls.
78. HCA Healthcare is testing Cati, a virtual AI caregiver assistant that helps to ensure continuity of care when one caregiver shift ends and another begins. They are also using gen AI to improve workflows on time-consuming tasks, such as clinical documentation, so physicians and nurses can focus more on patient care.
79. The Home Depot has built an application called Sidekick, which helps store associates manage inventory and keep shelves stocked; notably, vision models help associates prioritize which actions to take.
80. Los Angeles Rams are utilizing AI across the board from content analysis to player scouting.
81. McDonald’s will leverage data, AI, and edge technologies across its thousands of restaurants to implement innovation faster and to enhance employee and customer experiences.
82. Pennymac, a leading US-based national mortgage lender, is using Gemini across several teams including HR, where Gemini in Docs, Sheets, Slides and Gmail is helping them accelerate recruiting, hiring, and new employee onboarding.
83. Robert Bosch, the world’s largest automotive supplier, revolutionizes marketing through gen AI-powered solutions, streamlining processes, optimizing resource allocation, and maximizing efficiency across 100+ decentralized departments.
84. Symphony, the communications platform for the financial services industry, uses Vertex AI to help finance and trading teams collaborate across multiple asset classes.
85. Uber is using AI agents to help employees be more productive, save time, and be even more effective at work. For customer service representatives, they’ve launched new tools that summarize communications with users and can even surface context from previous interactions, so front-line staff can be more helpful and effective.
86. The U.S. Dept. of Veterans Affairs is using AI at the edge to improve cancer detection for service members and veterans. The Augmented Reality Microscope (ARM) is deployed at remote military treatment facilities around the world. The prototype device is helping pathologists find cancer faster and with better accuracy.
87. The U.S. Patent and Trademark Office has improved the quality and efficiency of their patent and trademark examination process by implementing AI-driven technologies.
88. Verizon is using generative AI to help teams in network operations and customer experience get the answers they need faster.
89. Victoria’s Secret is testing AI-powered agents to help their in-store associates find information about product availability, inventory, and fitting and sizing tips, so they can better tailor recommendations to customers.
90. Vodafone uses Vertex AI to search and understand specific commercial terms and conditions across more than 10,000 contracts with more than 800 communications operators
91. WellSky is integrating Google Cloud’s healthcare and Vertex AI capabilities to reduce the time spent completing documentation outside work hours.
92. Woolworths, the leading retailer in Australia, boosts employees’ confidence in communications with “Help me write” across Google Workspace products for more than 10,000 administrative employees. It’s also using Gemini to create next-generation promotions, as well as for quickly assisting customer service reps in summarizing all previous customer interactions in real time.
93-97. Box, Typeface, Glean, CitiBank, and Securiti AI discuss developing AI-powered apps across the enterprise, with measurable returns on investment for marketing, financial services, and HR use cases.
98-99. Highmark Health and Freenome join Bristol Myers Squibb to explore how AI can improve efficiency and innovation across care delivery, drug discovery, clinical trial planning, and bringing medicines to market.
Code agents
Code agents are helping developers and product teams to design, create, and operate applications faster and better, and to ramp up on new languages and code bases. Many organizations are already seeing double-digit gains in productivity, leading to faster deployment and cleaner, clearer code.
100. Labelbox has built a fully managed AI model evaluation solution directly integrated into the Vertex AI platform, allowing Google Cloud users to seamlessly launch human evaluation jobs and set specific criteria for evaluation, such as question-answering and summarization; this eases and accelerates the ability to deploy human-in-the-loop AI systems with higher levels of trust and authority.
101. Leroy Merlin, a global home improvement retailer, developed its Pull Request Analyzer using Vertex AI. This generative AI solution summarizes code changes, helping developers understand projects faster and improve code review efficiency.
102. Linear, a product development platform, built Similar Issues, a feature that uses AI to detect and prevent duplicate or overlapping tickets and ensures cleaner and more accurate data representation.
103. Magic is building a developer platform with a 100-million-token context window, so organizations can upload extremely large code bases and more easily query and build on them using gen AI assistance.
104. Pinecone provides infrastructure for developers to build accurate, secure, and scalable AI applications, allowing companies to easily ground gen AI apps in their proprietary data for use in AI search, retrieval-augmented generation, coding agents, and more.
105. Regnology built its Ticket-to-Code Writer tool with Gemini 1.5 Pro to automate the conversion of bug tickets into actionable code, significantly streamlining the software development process.
106. Weights & Biases, a creator of AI tools for developers, created W&B Weave, a lightweight toolkit to track, evaluate, and debug gen AI applications built with Gemini, so teams can confidently go from demo to production.
107. Capgemini has been using Code Assist to improve software engineering productivity, quality, security, and developer experience, with early results showing workload gains for coding and more stable code quality.
108. Commerzbank is enhancing developer efficiency through Code Assist’s robust security and compliance features.
109. Quantiphi saw developer productivity gains of more than 30% during their Code Assist pilot.
110. Replit developers will get access to Google Cloud infrastructure, services, and foundation models via Ghostwriter, Replit’s software development AI, while Google Cloud and Workspace developers will get access to Replit’s collaborative code editing platform.
111. Seattle Children’s hospital is using AI to boost data engineering productivity and accelerate development.
112. Turing is customizing Gemini Code Assist on their private codebase, empowering their developers with highly personalized and contextually relevant coding suggestions that have increased productivity around 30 percent and made day-to-day coding more enjoyable.
113. Wayfair piloted Code Assist, and those developers with the code agent were able to set up their environments 55 percent faster than before, there was a 48 percent increase in code performance during unit testing, and 60 percent of developers reported that they were able to focus on more satisfying work.
Data agents
Data agents are like having knowledgeable data analysts and researchers at your fingertips. They can help answer questions about internal and external sources, synthesize research, develop new models — and, best of all, help find the questions we haven’t even thought to ask yet, and then help get the answers.
114. 180Seguros is powering its data management platform for employees with Google Cloud AI and BigQuery to improve operational metric tracking, allowing for 3X faster query times.
115. Addy AI is helping mortgage lenders and banks automate their lending processes with custom AI models trained on Vertex AI. For example, the platform can extract loan opportunity details from lengthy email threads with numerous attachments.
116. Bayer Crop Science has developed Climate FieldView, a comprehensive agricultural platform with more than 250 layers of data and billions of data points; AI-powered recommendations allow farmers to design and monitor their fields for greater yields and efficient fertilization, with the added benefit of reduced carbon emissions.
117. CME Group is building a first-of-its-kind cloud-based commodities trading platform with AI tools built-in, offering CME’s trading customers access to deeper insights and smarter trades as well as rapid experimentation on new trading strategies that won’t interrupt existing trade flows.
118. Digits is developing next-gen accounting software for startups and small businesses; using AI-driven bookkeeping, expense management, and financial analysis, Digits enables business owners to achieve financial clarity and focus on growth.
119. Elanco, a leader in animal health, has implemented a gen AI framework supporting critical business processes, such as Pharmacovigilance, Customer Orders, and Clinical Insights. The framework, powered by Vertex AI and Gemini, has resulted in an estimated ROI of $1.9 million since launching last year.
120. Full Fact, a UK-based nonprofit working in 18 countries to combat misinformation, is now using gen AI to actively monitor stories so its 30 fact-checking partner organizations can focus on addressing specific claims and harmful information.
121. Fullstory, a digital behavioral data platform, is building the ability to analyze and summarize user behavior on a site to create more informed and enriching chatbot experiences; responses are more relevant and accurate, ultimately improving virtual agent performance and customer experience
122. GamudaBerhad, a Malaysian infrastructure and property management company, has integrated a Gemini-powered conversational agent into its cloud-based Tunnel Insight platform, providing faster information and insights during construction projects.
123. IntelligenciaAI is using AI models to research novel new drugs, relying on Google Cloud’s AI-optimized infrastructure to deliver scalable research that is accurate and transparent to meet the stringent needs of medicine.
124. IPRally built a custom machine-learning platform that uses natural language processing on the text of more than 120 million global patent documents, creating an accurate, easily searchable database that adds more than 200,000 new sources a week.
125. Ipsos built a data analysis tool for its teams of market researchers, eliminating the need for time-consuming requests to data analysts, which is powered by Gemini 1.5 Pro and Flash models as well as Grounding with Google Search to enhance real-world accuracy from contemporaneous Search information.
126. Materiom, a startup researching zero-waste, bio-based alternatives to fossil-fuel-made products like plastics, is creating a gen AI tool that enables entrepreneurs to develop novel compostable materials with broad applications; AI offers faster research and information gathering to speed up the development process.
127. Mendel has built a clinical AI system designed to break down the longstanding silos in medical data, boosting accuracy, accessibility, and ultimately patient health outcomes.
128. NeuroPace, a medical device company, built a solution to quickly identify effective epilepsy treatment options best suited to different patients; by analyzing brainwave patterns, it can find similar patients and apply successful therapies, streamlining personalized care.
129. NotCo, a Chilean food tech company, partnered with Eleven Solutions to develop a conversational AI chatbot powered by Gemini; the chatbot has revolutionized data access, allowing employees to instantly query their SAP system and gain real-time insights for faster, data-driven decision-making.
130. SURA Investments, the largest asset manager in Latin America, developed an AI-based analysis model for employees that allows them to better understand customer needs and improve customer experience and satisfaction.
131. AI21 Labs offers a BigQuery integration called Contextual Answers that allows users to query data conversationally and get high-quality answers quickly.
132. Anthropic has partnered with Google Cloud to offer its family of Claude 3 models on Vertex AI — providing organizations with more model options for intelligence, speed, cost-efficiency, and vision for enterprise use cases.
133. The Asteroid Institute is using AI to discover hidden asteroids in existing astronomical data. This is a major focus for astronomers researching the evolution of the Solar System, investors and businesses hoping to fly missions to asteroids, and for all of us who want to prevent future large asteroid impacts on Earth.
134. Contextual is working with Google Cloud to offer enterprises fully customizable, trustworthy, privacy-aware AI grounded in internal knowledge bases.
135. Cox 2M, the commercial IoT division of Cox Communications, is able to make smarter, faster business decisions using AI-powered analytics.
136. Essential AI, a developer of enterprise AI solutions, is using Google Cloud’s AI-optimized TPU v5p accelerator chips to train its own AI models.
137. Generali Italia, Italy’s largest insurance provider, used Vertex AI to build a model evaluation pipeline that helps ML teams quickly evaluate performance and deploy models.
138. Globo, one of Brazil’s largest media networks, is using Service Extensions and Media CDN to fight piracy during live events by blocking pirated streams in real time.
139. Golden State Warriors are using AI to improve the fan experience content in their Chase Center app.
140. Hugging Face is collaborating with Google across open science, open source, cloud, and hardware to enable companies to build their own AI with the latest open models from Hugging Face and Google Cloud hardware and software.
141. Kakao Brain, part of Korean technology company Kakao Group, has built a large-scale AI language model that is the largest Korean language-specific LLM in the market, with 66 billion parameters. They’ve also developed a text-to-image generator called Karlo.
142. Mayo Clinic has given thousands of its scientific researchers access to 50 petabytes worth of clinical data through Vertex AI search, accelerating information retrieval across multiple languages.
143. McLaren Racing is using Google AI to get up-to-the-millisecond insights during races and training to gain a competitive edge.
144. Mercado Libre is testing BigQuery and Looker to optimize capacity planning and reservations with delivery carriers and airlines to fulfill shipments faster.
145. Mistral AI will use Google Cloud’s AI-optimized infrastructure, to further test, build, and scale up its LLMs, all while benefiting from Google Cloud’s security and privacy standards.
146. MSCI uses machine learning with Vertex AI, BigQuery and Cloud Run to enrich its datasets to help our clients gain insight into around 1 million asset locations to help manage climate-related risks.
147. NewsCorp is using Vertex AI to help search data across 30,000 sources and 2.5 billion news articles updated daily.
148. Orange operates in 26 countries where local data must be kept in each country. They are using AI on Google Distributed Cloud to improve network performance and deliver super-responsive translation capabilities.
149. Spotify leveraged Dataflow for large-scale generation of ML podcast previews, and they plan to keep pushing the boundaries of what’s possible with data engineering and data science to build better experiences for their customers and creators.
150. UPS is building a digital twin of its entire distribution network, so both workers and customers can see where their packages are at any time.
151. Workday is using natural language processing in Vertex Search and Conversation to make data insights more accessible for technical and non-technical users alike.
152. Woven — Toyota‘s investment in the future of mobility — is partnering with Google to leverage vast amounts of data and AI to enable autonomous driving, supported by thousands of ML workloads on Google Cloud’s AI Hypercomputer. This has resulted in resulting in 50% total-cost-of-ownership savings to support automated driving.
152-153. Broward County, Florida, and Southern California Edison are using geospatial capabilities and AI to improve infrastructure planning and monitoring, generate new insights, and create regional resilience for communities facing climate challenges today and tomorrow.
154-155. Kinaxis and Dematic are building data-driven supply chains to address logistics use cases including scenario modeling, planning, operations management, and automation.
156-157. NOAA and USAID are among the U.S. government agencies using Google Cloud AI to unlock critical data insights to streamline operations and improve mission outcomes — all with an emphasis on responsible AI.
Security agents
Security agents assist security operations by radically increasing the speed of investigations, automating monitoring and response for greater vigilance and compliance controls. They can also help guard data and models from cyberattacks, such as malicious prompt injection.
158. Apex Fintech is using Gemini in Security to accelerate the writing of complex threat detections from hours to a matter of seconds.
159. Exabeam has built a generative AI copilot for security analysts into its New-Scale Security Operations Platform.
160. Fiserv, a developer of financial services technology, can now summarize threats, find answers, and detect, validate, and respond to security events faster with the Gemini in Security Operations platform.
161. NetRise developed Trace to provide software supply chain security by introducing AI-powered intent-driven searches; these allow users to search their assets based on the underlying motives or purposes behind the code and configurations, rather than solely relying on signature-based methods.
162. Palo Alto Networks is using Gemini to create a grounded AI assistant for 24/7 security platform support in order to improve agent efficiency and response time; grounding the assistant in organizational data and security protocols has greatly improved the accuracy of responses.
163. BBVA uses AI in Google SecOps to detect, investigate, and respond to security threats with more accuracy, speed, and scale. The platform now surfaces critical security data in seconds, when it previously took minutes or even hours, and delivers highly automated responses.
164. Behavox is using Google Cloud technology and LLMs to provide industry leading regulatory compliance and front office solutions for financial institutions globally.
165. Charles Schwab has integrated their own intelligence into the AI-powered Google SecOps, so analysts can better prioritize work and respond to threats.
166. Fiserv’s security operations engineers create detections and playbooks with much less effort, while analysts get answers more quickly.
167. Grupo Boticário, one of the largest beauty retail and cosmetics companies in Brazil, employs real-time security models to prevent fraud and to detect and respond to issues.
168. Palo Alto Networks’ Cortex XSIAM, the AI-driven security operations platform, is built on more than a decade of expertise in machine-learning models and the most comprehensive, rich, and diverse data store in the industry. Backed by Google’s advanced cloud infrastructure and advanced AI services, including BigQuery and Gemini models, the combination delivers global scale and near real-time protection across all cybersecurity offerings.
169. Pfizer can now aggregate cybersecurity data sources, cutting analysis times from days to seconds.
Creative agents
Creative agents can expand your organization with the best design and production skills, working across images, slides, and exploring concepts with workers. Many organizations are building agents for their marketing teams, audio and video production teams, and all the creative people that can use a hand. With creative agents, anyone can become a designer, artist, or producer.
170. AdoreMe marketers write differentiated product descriptions in one hour, a tedious task which used to take 30-40 hours a month thanks to Gemini for Google Workspace.
171. Globo, the largest media group in Latin America, is using Google Cloud’s AI to hyper-personalize content for its streaming users, and create a better experience for spectators.
172. Higgsfield.ai built a number of text-to-video apps for consumers, including Diffuse 2.0, which can combine users photos, videos, and texts through AI models to create more realistic avatars.
173. Jasper trains its suite of creativity-, writing-, and marketing-focused AI models on Google’s AI infrastructure, delivering on-brand, data-optimized assets faster and at scale to teams large and small.
174. Puma is using Imagen to customize product photos on its website, saving time and ensuring they are locally relevant across markets; PUMA India has already seen a 10% increase in click through rate.
175. RadissonHotel Group personalized its advertising at scale in collaboration with Accenture and using Vertex AI and Gemini models, training them on extensive datasets stored in BigQuery; ad teams saw productivity rise around 50% while revenue increased from AI-powered campaigns by more than 20%
176. SquareEnix is using customer data to develop AI-optimized marketing assets to keep its gamers engaged, sharing personalized emails suited to each player’s preferences, leading to a 20% increase in email opens and a 10% increased retention rate.
177. Urmobo, a mobile-device management platform, created a virtual agent, Odin, that significantly improved user experience and reduced support tickets by enabling clients to interact with the platform using natural language.
178. The World Bank is developing a tool to extract key information from research literature on the causal impact of development interventions, with the ultimate goal to empower decision-makers to allocate the $220B in annual aid and trillions in annual impact investing more effectively.
179. Belk ECommerce is using generative AI to craft better product descriptions, a necessary yet time-consuming task for digital retails that has often been done manually.
180. Canva is using Vertex AI to power its Magic Design for Video, helping users skip tedious editing steps while creating shareable and engaging videos in a matter of seconds.
181. Carrefour used Vertex AI to deploy Carrefour Marketing Studio in just five weeks — an innovative solution to streamline the creation of dynamic campaigns across various social networks. In just a few clicks, marketers can build ultra-personalized campaigns to deliver customers advertising that they care about.
182. Major League Baseball continues to innovate its Statcast platform, so teams, broadcasters, and fans have access to live in-game insights.
183. Paramount currently relies on manual processes to create the essential metadata and video summaries used across its Paramount+ platform for showcasing content and creating personalized experiences for viewers. VertexAI Text Bison is now helping to streamline this process.
184. Procter & Gamble used Imagen to develop an internal gen AI platform to accelerate the creation of photo-realistic images and creative assets, giving marketing teams more time to focus on high-level planning and delivering superior experiences for its consumers.
185. WPP will integrate Google Cloud’s gen AI capabilities into its intelligent marketing operating system, called WPP Open, which empowers its people and clients to deliver new levels of personalization, creativity, and efficiency. This includes the use of Gemini 1.5 Pro models to supercharge both the accuracy and speed of content performance predictions.
To find even more customers using our AI tools to build agents and solutions for their most important enterprise projects, visit the Google Cloud customer hub.
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Source: United Kingdom – Executive Government & Departments
Following the G7 Foreign Ministers’ Meeting at the High-Level Week of the UN General Assembly, the following statement was made by Chair Antonio Tajani.
1. Introduction
In today’s meeting in New York, in the wake of the Summit of the Future, the G7 Foreign Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the High Representative of the European Union reiterated their commitment to upholding the rule of law, humanitarian principles and international law, including the Charter of the United Nations, and to protecting human rights and dignity for all individuals.
They re-emphasized their determination to foster collective action in order to preserve peace and stability to address global challenges, such as the climate crisis and to advance the achievement of the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs).
In doing so, the G7 members renewed their commitment to the promotion of free societies and democratic principles, where all persons can freely exercise their rights and freedoms.
2. Summit for the Future
In the spirit of the renewed determination to strengthen the multilateral system based on the UN Charter’s principles, as reflected in the Pact for the Future adopted at the Summit of the Future by world Leaders, the G7 members committed to continue working with countries and all relevant stakeholders within the UN system through dialogue, mutual understanding and respect in the pursuit of common solutions, with the aim of upholding and reforming the multilateral system so that it better reflects today’s world and is fit to respond to the complex global challenges of the future. They reaffirmed their commitment to work with all UN member states to strengthen the roles of the UNSG as well as the UNGA. They also recommitted to the reform of the UNSC.
3. Steadfast Support to Ukraine
The G7 members reaffirmed their unwavering support to Ukraine as it defends its freedom, sovereignty, independence, and territorial integrity, against Russia’s brutal and unjustifiable war of aggression. The G7 members strongly condemned Russia’s blatant breach of international law, including the UN Charter, and of the basic principles that underpin the international order. They strongly condemned the serious violations of international humanitarian law perpetrated by Russia’s forces in Ukraine, which have caused a devastating impact on the civilian population. Violence against civilians, including women, children, and prisoners of war is unacceptable.
They expressed their outrage at Russia’s repeated attacks against critical infrastructure and they condemned in the strongest possible terms any targeting of civilian buildings and even hospitals. Ensuring the protection and resilience of Ukraine’s energy grid and its power generation capacity remains a fundamental and urgent priority as winter approaches. They welcomed the international conference on energy security held on August 22. .as well as the ongoing coordination of the G7 energy group. They reiterated their commitment to help Ukraine meet its urgent short-term financing needs, as well as support its long-term recovery and reconstruction priorities.
Russia must end its war of aggression and pay for the damage it has caused to Ukraine. The G7 members reiterated their commitment to explore and use all possible lawful avenues by which Russia is made to meet those obligations.
The launch of the Extraordinary Revenue Acceleration (ERA) Loans for Ukraine, as mandated by G7 leaders, will make available approximately USD 50 billion in additional funding to Ukraine that will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilization of Russian sovereign assets held in the European Union and other relevant jurisdictions.
The G7 Foreign Ministers and the High Representative are working, together with Finance Ministers, to operationalize the G7 Leaders’ commitment by the end of the year. They will maintain solidarity in this commitment to providing this support to Ukraine. The G7 members confirmed that, consistent with all applicable laws and their respective legal systems, Russia’s sovereign assets in their jurisdictions will remain immobilized until Russia ends its aggression and pays for the damage it has caused to Ukraine.
They also committed to strengthening the Ukraine Donor Platform to help coordinate the disbursal of funds and ensure they align with Ukraine’s highest priority needs at a pace it can effectively absorb. This will play a key role in advancing Ukraine’s reforms in line with its European path and in contributing to a successful Ukraine Recovery Conference to be held in Italy in 2025.
Any use of nuclear weapons by Russia in the context of its war of aggression against Ukraine would be inadmissible. They therefore condemned in the strongest possible terms Russia’s irresponsible and threatening nuclear rhetoric, as well as its posture of strategic intimidation. They also expressed their deepest concern about the reported use of chemical weapons as well as riot control agents as a method of warfare by Russia in Ukraine.
The G7 members remained committed to holding those responsible accountable for atrocities in Ukraine, in line with international law. They also condemned the seizures of foreign companies and called on Russia to reverse these measures and seek acceptable solutions with the companies targeted by them.
They condemned Russia’s seizure and continued control and militarization of Zaporizhzhia nuclear power plant, which poses severe risks for nuclear safety and security, potentially affecting the entire international community. They reiterated their support to the International Atomic Energy Agency’s efforts directed at mitigating such risks.
They underlined once again their support for Ukraine’s right of self-defense and reiterated their commitment to Ukraine’s long-term security, recalling the launch of the Ukraine Compact in Washington on 11 July 2024. They re-affirmed the intention to increasing industrial production and delivery capabilities to assist Ukraine’s self-defense. They highlighted their support to Ukraine in its efforts to modernize its armed forces and strengthen its own defense industry. They expressed their resolve to bolster Ukraine’s air defense capabilities to save lives and protect critical infrastructure.
They remained committed to raising the costs of Russia’s war of aggression by building on the comprehensive package of sanctions and economic measures already in place. Though existing measures have had a significant impact on Russia’s war machine and ability to fund its invasion, its military is still posing a threat not just to Ukraine but also to international security.
The G7 members expressed the intention to continue taking appropriate measures, consistent with their legal systems, against actors in China and in third countries that materially support Russia’s war machine, including financial institutions, and other entities that facilitate Russia’s acquisition of items for its defense industrial base.
They expressed their intention to continue to apply significant pressure on Russian revenues from energy and other commodities. This will include improving the efficacy of the oil price cap policy by taking further steps to tighten compliance and enforcement, including against Russia’s shadow fleet, while working to maintain market stability.
They especially emphasized the urgency to support Ukraine’s energy security, including by coordinating international assistance through the G7+Ukraine Energy Coordination Group. They underscored the importance to continue working with the Ukrainian authorities and International Financial Institutions through the Ukraine Donor Platform, and by mobilizing private investments and fostering participation of civil society.
They highlighted the reality of millions of internally displaced Ukrainians and the importance of an inclusive rights-based, gender-responsive recovery, including the reintegration of veterans and civilians with disabilities, and to address the needs of women, children as well as other population groups who have been disproportionately affected by Russia’s war of aggression. They reiterated their condemnation of Russia’s unlawful deportation of Ukrainian children and welcomed coordinated efforts to secure their safe return. They called on Russia to release all persons it has unjustly detained and safely return all civilians it has illegally transferred or deported, starting with children. They welcomed the Ministerial Conference on the Human Dimension of Ukraine’s 10 point peace formula that will be hosted by Canada on October 30-31.
They reiterated the need to support Ukraine’s agriculture sector, which is critical for global food supply, particularly for the most vulnerable nations, and called for unimpeded exports of grain, foodstuffs, fertilizers and inputs from Ukraine.
They acknowledged the importance to involve the private sector in the sustainable economic recovery of Ukraine. They welcomed and underscored the significance of Ukraine itself continuing to implement domestic reform efforts, especially in the fields of anti-corruption, justice system reform, decentralization, and promotion of the rule of law. These endeavors are in line with the Euro-Atlantic path Ukraine has embraced. The G7 members were unanimous on the need to continue to support efforts of the Ukrainian government and people in these endeavors.
They resolutely condemned Russia’s holding of illegitimate ‘elections’ in the occupied Ukrainian Autonomous Republic of Crimea and the city of Sevastopol. Russia’s actions once again demonstrate its blatant disregard for Ukraine’s territorial integrity, sovereignty and independence, and the UN Charter. They called on all members of the international community to refrain from recognizing Russia’s illegitimate actions.
They welcomed the Summit on Peace in Ukraine that took place in Switzerland on June 15-16 and its focus on the key priorities needed to achieve a framework for peace based on international law, including the UN Charter and its principles, and respect for Ukraine’s sovereignty and territorial integrity. They remained committed to follow up on the Conference through constructive engagement with all international partners to reach a comprehensive, just and lasting peace.
The G7 members acknowledged that Russia continues to expand its campaigns of foreign information manipulation and interference (FIMI). They condemned Russia’s use of FIMI to support its war of aggression against Ukraine. They reiterated their determination to bolster the G7 Rapid Response Mechanism by developing a collective response framework to counter foreign threats to democracies.
4. Situation in the Middle East
The G7 members reiterated their condemnation of Hamas’ horrendous attacks on October 7, 2023. 101 hostages are still in the hands of Hamas. They noted with deep concern the trend of escalatory violence in the Middle East and its repercussions on regional stability and on the lives of civilians shattered by this conflict, from the Gaza Strip to the Israeli-Lebanese Blue Line. Actions and counter-reactions risk magnifying this dangerous spiral of violence and dragging the entire Middle East into a broader regional conflict with unimaginable consequences. They called for a stop to the current destructive cycle, while emphasizing that no country stands to gain from a further escalation in the Middle East.
They expressed their deep concern about the situation along the Blue Line. They recognized the essential stabilizing role played by the Lebanese Armed Forces and the UN Interim Force in Lebanon in mitigating that risk. They demanded the full implementation of UNSCR 1701 (2006) and urged that all relevant actors implement immediate measures towards de-escalation.
The G7 members reaffirmed their strong support for the ongoing mediation efforts undertaken by the United States, Egypt and Qatar to reach a resolution between the parties to the conflict in Gaza. They reiterated their full commitment for the implementation of the UNSC Resolution 2735 (2024) and the comprehensive deal outlined by President Biden in May that would lead to an immediate ceasefire in Gaza, the release of all hostages, a significant and sustained increase in the flow of humanitarian assistance throughout Gaza, and an enduring end to the crisis, to secure a pathway to a two-state solution with a safe Israel alongside a sovereign Palestinian state. They urged the parties to the conflict to unequivocally accept the ceasefire proposal, stressing the need for countries in a position to directly influence the parties to cooperate in strengthening mediation efforts. They called for the full implementation of the terms of the ceasefire proposal without delay and without conditions.
They called on all parties to fully comply with international law, including international humanitarian law. They expressed their deep alarm for the heavy toll this conflict has taken on civilians, deploring all losses of civilian lives equally and noting with great concern that, after nearly a year of hostilities and regional instability, it is mostly civilians, including women and children, who are paying the highest price. Protection of civilians must be an absolute priority for all parties at all times.
The G7 members expressed concern at the unprecedented level of food insecurity affecting most of the population in the Gaza Strip. Securing full, rapid, safe, and unhindered humanitarian access in all its forms and through all relevant crossing points remains an absolute priority. They urged all parties to allow the unimpeded delivery of aid and ensure protection of humanitarian workers by properly implementing de-confliction measures. They recognized the crucial role played by UN agencies and other humanitarian actors in delivering assistance especially health care for the most vulnerable persons, including the polio vaccination campaign. They expressed their support for UNRWA to effectively uphold its mandate, emphasizing the vital role that the UN Agency plays.
The G7 members reaffirmed their unwavering commitment, through reinvigorated efforts in the Middle East Peace Process, to the vision of a two-state solution where two democratic states, Israel and Palestine, live side by side in peace within secure and recognized borders, consistent with international law and relevant UN resolutions, and in this regard stress the importance of unifying the Gaza strip with the West Bank under Palestinian Authority. We note that mutual recognition, to include the recognition of a Palestinian state, at the appropriate time, would be a crucial component of that political process. They expressed their concern about the risk of weakening the Palestinian Authority and underlined the importance of maintaining economic stability in the West Bank. They welcomed the EU’s 400 million Euro emergency package for the Palestinian Authority. All parties must refrain from unilateral actions and from divisive statements that may undermine the prospect of a two-state solution, including the Israeli expansion of settlements and the “legalization” of settlement outposts. They condemned the rise in extremist settler violence committed against Palestinians, which undermines security and stability in the West Bank and threatens prospects for a lasting peace. They expressed their deep concern regarding the deteriorating security situation in the West Bank.
They reiterated their commitment to working together – and with other international partners – to closely coordinate and institutionalize their support for civil society peacebuilding efforts, ensuring that they are part of a larger strategy to build the foundation necessary for a negotiated and lasting Israeli-Palestinian peace. The G7 members called on Iran to contribute to de-escalation of tensions in the region. They demanded that Iran cease its destabilizing actions in the Middle East. They underlined that they stand ready to adopt further sanctions or take other measures in response to further destabilizing initiatives.
They reiterated their determination that Iran must never develop or acquire a nuclear weapon and that the G7 will continue working together, and with other international partners, to address Iran’s nuclear escalation. A diplomatic solution remains the best way to resolve this issue. As the IAEA remains unable to verify that Iran’s nuclear program is exclusively peaceful, they urged Iran’s leadership to cease and reverse nuclear activities that have no credible civilian justification and to cooperate with the IAEA without further delay to fully implement their legally binding safeguards agreement and their commitments under UNSCR 2231(2015).
They condemned in the strongest possible terms Iran’s export and Russia’s procurement of Iranian ballistic missiles. Evidence that Iran has continued to transfer weaponry to Russia despite repeated international calls to stop represents a further escalation of Iran’s military support to Russia’s war of aggression against Ukraine. Russia has used Iranian weaponry such as UAVs to kill Ukrainian civilians and strike their critical infrastructure.
They reiterated that Iran must immediately cease all support to Russia’s illegal and unjustifiable war against Ukraine and halt such transfers of ballistic missiles, UAVs and related technology, which constitute a direct threat to the Ukrainian people as well as European and international security more broadly.
They reaffirmed their steadfast commitment to hold Iran to account for its unacceptable support for Russia’s illegal war in Ukraine that further undermines global security. In line with their previous statements on the matter, they underscored that they are already responding with new and significant measures.
They also reiterated their deep concern about Iran’s human rights violations, especially against women and minority groups. They reiterated their call on Iran to allow access to the country to relevant UN Human Rights Council Special Procedures mandate holders.
De-escalation efforts in the region must also include the immediate and unconditional termination of any attack by the Houthis against international and commercial vessels transiting the Gulf of Aden, the Bab al-Mandeb Strait and the Red Sea. The G7 members reiterated their strong condemnation of these attacks and the right of countries to defend their vessels from attacks. They called for the immediate release by the Houthis of the Galaxy Leader and its crew. They expressed their strong concern about the August 21 attack on the merchant vessel Sounion and the ongoing risk of an environmental catastrophe as salvage operations continue. They welcomed the efforts by the EU maritime operation Aspides and by the US-led Operation Prosperity Guardian to protect vital sea lanes. They appreciated the efforts of those countries that are committed to protect freedom of navigation and trade, as well as maritime security, in line with UNSCR 2722 (2024) and in accordance with international law.
5. Fostering partnerships with African Countries
The G7 members reaffirmed their commitment to support African nations in the pursuit of sustainable development as well as the creation of jobs and growth. The focus remains on fostering fair partnerships, built on shared principles, democratic values, local leadership, and practical initiatives.
They reiterated their intention to align actions with the African Union’s Agenda 2063 and the specific needs of African countries, including plans to improve local and regional food security, infrastructure, trade, and agricultural productivity. They expressed their support for the implementation of the African Continental Free Trade Area, a crucial factor for Africa’s growth in the next decade.
The G7 members emphasized the need to strengthen mutually beneficial cooperation with African countries and regional organizations. In addition to maintaining financial support for African nations, they expressed their determination to improve the coordination and effectiveness of G7 resources, mobilizing domestic resources and encouraging increased private investments.
They welcomed the African Union’s permanent membership in the G20, and the creation of an additional Chair for Sub-Saharan Africa on the IMF Executive Board in November.
They reaffirmed their commitment to the G20 Compact with Africa, a tool aimed at enhancing private investment, driving structural reforms, supporting local entrepreneurship, and fostering cooperation, particularly in the energy sector. The G7 Partnership for Global Infrastructure and Investment (PGII), and initiatives like the EU’s Global Gateway can contribute to promote sustainable, resilient, and economically viable infrastructure in Africa, ensuring transparency in project selection, procurement, and financing. In this framework, they welcomed Italy’s Mattei Plan for Africa.
They recognized that sustainable development, peace and security and democracy go hand in hand, reaffirming their commitment to help African governments in strengthening democratic governance and respect for human rights, while addressing conditions conducive to terrorism, violent extremism, and instability.
They expressed their deep concern about the destabilizing activities of the Kremlin-backed Wagner Group and other Russia-supported entities. They called for accountability for all those responsible for human rights violations and abuses.
6. Indo-Pacific
The G7 members reiterated their commitment to a free and open Indo-Pacific, based on the rule of law, which is inclusive, prosperous and secure, grounded on sovereignty, territorial integrity, peaceful resolution of disputes, fundamental freedoms and human rights. They reaffirmed the importance of working together with regional partners and organizations, notably the Association of Southeast Asian Nations (ASEAN). They reaffirmed their thorough support for ASEAN centrality and unity. They reaffirmed their intention to work to support Pacific Island Countries’ priorities, as articulated through the 2050 Strategy for the Blue Pacific Continent.
As they seek constructive and stable relations with China, they recognized the importance of direct and candid engagement to express concerns and manage differences. They reaffirmed their readiness to cooperate with China to address global challenges. They expressed their deep concern at the China’s support to Russia. They called on China to step up efforts to promote international peace and security, and to press Russia to stop its military aggression and immediately, completely and unconditionally withdraw its troops from Ukraine. They encouraged China to support a comprehensive, just and lasting peace based on territorial integrity and the principles and purposes of the UN Charter, including through its direct dialogue with Ukraine. They also expressed their deep concern at China’s ongoing support for Russia’s defense industrial base, which is enabling Russia to maintain its illegal war in Ukraine and has significant and broad-based security implications. They called on China to cease the transfer of dual-use materials, including weapons components and equipment, that are inputs for Russia’s defense sector.
They recognized the importance of China in global trade. However, they expressed their concerns about China’s persistent industrial targeting and comprehensive non-market policies and practices that are leading to global spillovers, market distortions and harmful overcapacity in a growing range of sectors, undermining our workers, industries and economic resilience and security, as well as impacting on currencies. The G7 members are not decoupling or turning inwards. They are de-risking and diversifying supply chains where necessary and appropriate and fostering resilience to economic coercion. They called on China to refrain from adopting export control measures, particularly on critical minerals, that could lead to significant supply chain disruptions. Together with partners, the G7 members will invest in building their respective industrial capacities, promote diversified and resilient supply chains, and reduce critical dependencies and vulnerabilities.
They remained seriously concerned about the situation in the East and South China Seas and reiterated their strong opposition to any unilateral attempt to change the status quo by force or coercion. They reaffirmed that there is no legal basis for China’s expansive maritime claims in the South China Sea, and they reiterated their opposition to China’s militarization and coercive and intimidation activities in the South China Sea. They re-emphasized the universal and unified character of the United Nations Convention on the Law of the Sea (UNCLOS) and reaffirmed UNCLOS’s important role in setting out the legal framework that governs all activities in the oceans and the seas. They reiterated that the award rendered by the Arbitral Tribunal on 12 July 2016 is a significant milestone, which is legally binding upon the parties to those proceedings and a useful basis for peacefully resolving disputes between the parties. They reiterated their strong opposition to China’s dangerous use of coast guard and maritime militia in the South China Sea and its repeated obstruction of countries’ high seas freedom of navigation. They expressed deep concern about the dangerous and obstructive maneuvers, including water cannons and ramming, by the China Coast Guard and maritime militia against Philippines vessels.
The G7 members reaffirmed that maintaining peace and stability across the Taiwan Strait is indispensable to international security and prosperity, and called for the peaceful resolution of cross-Strait issues. There is no change in the basic position of the G7 members on Taiwan, including stated One-China policies. They supported Taiwan’s meaningful participation in international organizations as a member where statehood is not a prerequisite and as an observer or guest where it is.
They remained concerned by the human rights situation in China, including in Xinjiang and Tibet. They are also worried about the crackdown on Hong Kong’s autonomy and independent institutions, and ongoing erosion of rights and freedoms. They urged China and the Hong Kong authorities to act in accordance with their international commitments and applicable legal obligations.
The G7 members strongly condemned North Korea’s continuing expansion of its unlawful nuclear and ballistic missile programs in violation of multiple UNSC resolutions and its continuous destabilizing activities. They reiterated their call for the complete denuclearization of the Korean Peninsula and demanded that North Korea abandons all its nuclear weapons, existing nuclear programs, and any other WMD and ballistic missile programs in a complete, verifiable and irreversible manner, in accordance with all relevant UNSC resolutions. They called on North Korea to return to dialogue to promote peace and stability in the Korean peninsula. They urged all UN Member States to fully implement all relevant UN Security Council resolutions. They reiterated their deep disappointment with Russia’s veto last March on the mandate renewal of the UNSC 1718 Committee Panel of Experts.
They condemned in the strongest possible terms the increasing military cooperation between North Korea and Russia, including North Korea’s export and Russia’s procurement of North Korean ballistic missiles and munitions in direct violation of relevant UNSCRs, as well as Russia’s use of these missiles and munitions against Ukraine. They are also deeply concerned about the potential for any transfer of nuclear or ballistic missiles-related technology to North Korea, in violation of the relevant UNSCRs. They urged Russia and North Korea to immediately cease all such activities and abide by relevant UNSCRs. They urged North Korea to respect human rights, facilitate access for international humanitarian organizations, and resolve the abductions issue immediately.
They called on China not to conduct or condone activities aimed at undermining the security and safety of our communities and the integrity of our democratic institutions, and to act in strict accordance with its obligations under the Vienna Convention on Diplomatic Relations and the Vienna Convention on Consular Relations.
7. Regional Issues
Venezuela
The G7 members reiterated their deep concern about the situation in Venezuela, following the vote on July 28.
They emphasized that the announced victory of Maduro lacks credibility and democratic legitimacy, as indicated by reports of the UN Panel of Experts and independent international observers as well as data published by the opposition. They underscored that it is essential for electoral results to be complete and independently verified to ensure respect for the will of the Venezuelan people.
They expressed their outrage for the arrest warrant and constant threats to the security of Edmundo Gonzalez Urrutia, who decided to seek refuge in Spain. According to the above-mentioned independent reports, Edmundo Gonzalez Urrutia appears to have won the most votes.
They urged Venezuelan representatives to cease all human rights violations and abuses, arbitrary detentions and widespread restrictions on fundamental freedoms, particularly affecting the political opposition, human rights defenders, and representatives of independent media and civil society. They called for the release of all political prisoners and for a path to freedom and democracy for the people of Venezuela.
They urged the international community to keep Venezuela high on the diplomatic agenda and they expressed their support for efforts by regional partners to facilitate the Venezuelan-led democratic and peaceful transition that the people of Venezuela have clearly chosen in the polls.
Haiti
The G7 members expressed their determination to continue supporting Haitian institutions – including the Transitional Presidential Council (CPT) and the Government of Prime Minister Conille – in their commitment to create the necessary conditions of general security and stability for the convening, by February 2026, of free and fair elections. The expression of popular will would set the foundation for the full restoration of democracy and the rule of law in Haiti.
They also expressed full support to the Multinational Security Support (MSS) mission, which is providing critical support to the Haitian National Police as they counter criminal gangs engaged in illicit trafficking and inflicting brutal violence upon the population.
The G7 members emphasized the importance of continued support to the MSS mission through financial contributions to the UN Trust Fund as well as contributions in kind. They expressed their strong appreciation for the commitment of the Government of Kenya – which has already deployed 380 personnel on the ground – to support the Haitian National Police in restoring peace and security.
They called on all countries that have committed to deploy their contingents to the MSS mission to do so as soon as possible, to consolidate the mission and its fundamental role in the Country. They called on Haiti’s partners to continue their humanitarian assistance to the Haitian people and to expedite their financial and in-kind contributions to the MSS mission to help ensure that the mission is resourced for success.
They called also on the United Nations Security Council to consider a UN Peace Operation to maintain the security gains of the Haiti National Police and the MSS mission for holding free and fair elections and called on the Secretary-General accordingly to provide support.
The G7 members welcomed the work of the G7 Working Group on Haiti in monitoring institutional, political, social and security developments in Haiti, with a view to supporting the stabilization of the country and the restoration of full democratic governance.
Libya
The G7 members reiterated their unwavering commitment to Libyan stability, sovereignty, independence and unity. They expressed deep concern about recent developments in the country, in particular those involving the leadership of the Central Bank of Libya and the High Council of State, which show the fragility and unsustainability of the present status quo. They urged relevant Libyan parties to rapidly reach the necessary compromises to begin to restore the institutional integrity of the Central Bank of Libya and its standing with the international financial community. They called on Libyan political actors to refrain from taking harmful unilateral actions that create further political tension and fragmentation and make the country vulnerable to harmful foreign interference.
They noted advances made in the organization of local elections and they called for a free, fair and inclusive participation of all Libyans. It is now imperative to relaunch a Libyan-led and Libyan-owned political process facilitated by the UN towards free and fair presidential and parliamentary elections.
They expressed their support and commended the efforts made by UNSMIL officer in charge Stephanie Koury in support of the stabilization of Libya. They called on the Secretary General to appoint a new Special Representative without delay.
Sudan
The G7 members reiterated their grave concern over the ongoing fighting, mass-displacement and famine in Sudan.
They condemned the serious human rights violations and abuses against the civilian population, including widespread sexual and gender-based violence, as well as international humanitarian law violations by both sides to the conflict. They called for an immediate end to the escalating violence, which is creating further displacement, and urged the warring parties to ensure the protection of civilians. They reiterated their commitment to holding accountable all those responsible for violations of international law in Sudan.
They condemned the emergence of famine in Sudan as a direct consequence of efforts to restrict access of humanitarian actors. They noted recent progress in relation to the re-opening of the Chad-Sudan Adre border crossing, in the wake of the Paris Conference and of the Geneva talks. They called for full, rapid, safe, and unhindered humanitarian access both into Sudan and across lines of conflict so aid can reach all those in need.
They urged all parties to cease hostilities immediately and to engage in serious negotiations aimed at achieving a lasting ceasefire, humanitarian access and protection of civilians without pre-conditions.
They called on external actors to refrain from fueling the conflict, to respect the UN arms embargo on Darfur, and to play a responsible role in resolving the crisis.
They welcomed mediation efforts by regional and international actors and organizations to facilitate a durable peace for the country.
Inclusive, national dialogue, aimed at restoring democracy, re-establishing and strengthening the civilian and representative institutions after the end of the conflict, is a prerequisite for lasting peace. The G7 Members emphasized that it is necessary for representatives of Sudanese civil society, including women, to be fully engaged in the reflection on the political future of the country.
VANCOUVER, British Columbia, Sept. 24, 2024 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLI) (NYSE American:SLI) (FRA:S5L), a leading near-commercial lithium company, today announced its financial and operating results for the fiscal fourth quarter and year ended June 30, 2024.
“We delivered on our promises in fiscal 2024 with the advancement of our world-class lithium brine assets and by securing a strategic partnership with global energy major, Equinor,” said David Park, CEO and Director of Standard Lithium. “Standard Lithium holds globally-significant lithium brine assets in the Smackover with the potential to help meet the growing demand for sustainable lithium production in the U.S. We are the most advanced DLE play in North America, having proven direct lithium extraction at a commercial scale. The Standard Lithium team has done an outstanding job of differentiating itself from the pack by systematically de-risking its business, including the consummation of it’s partnerships with Equinor and Koch. Now, with the recent announcement of the conditional DOE grant of US$225 million, is the time for us to prioritize, focus and execute. We look forward to working closely with our partners to advance our South West Arkansas and East Texas projects.”
Highlights Subsequent to the Fourth Quarter Ended June 30, 2024
All amounts are in US dollars unless otherwise indicated.
Received conditional $225 million grant from the U.S. Department of Energy (“DOE”) for the South West Arkansas Project.The grant is expected to support the construction of the Central Processing Facility for Phase 1 of the SWA project and is dependent on successful negotiations with the DOE. The grant is one of the largest ever awarded to a U.S. critical minerals project.
Appointed David Park as Chief Executive Officer and Director of the Company. On September 1, 2024, Mr. Park, a highly experienced executive with a strong energy and industrial sector background, assumed the position of Chief Executive Officer. Mr. Park joined the company as a strategic advisor in July 2023 following his retirement from Koch Industries after 28 years.
Fourth Quarter and Full Year 2024 Highlights
Secured strategic partnership with global energy major Equinor to advance the South West Arkansas (“SWA”) and East Texas projects.Equinor ASA (“Equinor”) acquired a 45% interest in two Standard Lithium entities holding the SWA and East Texas projects for a gross investment of up to $160 million. The transaction immediately strengthened the Company’s financial position and resulted in no dilution to existing shareholders.
De-risked commercialization of the direct lithium extraction (“DLE”) process. The Company successfully installed, commissioned, and continues to operate the Li-ProTM Lithium Selective Sorption commercial scale unit at its Demonstration Plant in El Dorado, Arkansas. The Company’s partner, Koch Technology Solutions, supplied the commercial scale unit, which is believed to be the largest commercial-scale column operating in a DLE facility globally. The results to date have exceeded design parameters, including average lithium recovery of 97.3%, key contaminant rejection of greater than 99%, and boron rejection greater than 95%.
Executed drilling programs yielding the highest-ever reported lithium brine values in North America. The South West Arkansas Project’s current resource averages among the highest lithium concentrations in North America. As part of its PFS for SWA, the Company reported an Upper Smackover Indicated and Middle Smackover Inferred resource of 1.4 Mt and 0.4 Mt lithium carbonate equivalent, respectively, at an average lithium concentration of 437 mg/L. In East Texas, the Company delivered globally-significant results with confirmed lithium concentrations up to 806 mg/L and an average concentration of 644 mg/L in the drilled area. The drill results represent the highest-ever reported and confirmed lithium brine concentrations in North America.
Advanced and de-risked the South West Arkansas Project. The Company delivered a Preliminary Feasibility Study (“PFS”) for the project in the first half of the fiscal year, demonstrating robust economics assuming average annual production of 30,000 tonnes per annum (“tpa”) of lithium hydroxide beginning in 2027. Post publishing the PFS, the Company secured brine production rights and purchased a 118-acre parcel of land to further advance the project. Most recently, SWA received a conditional $225 million grant from the U.S. Department of Energy in support of its construction and development. The grant was awarded based on an updated scope from the original PFS; the Project’s design is being updated and now targets a larger total output of 45,000 tpa of lithium carbonate to be developed in two phases of 22,500 tpa each. SWA is being developed in partnership with Equinor, with ownership shared 55% by Standard Lithium and 45% by Equinor. Ausenco Engineering Canada ULC is leading the Definitive Feasibility Study and Front-end Engineering and Design currently underway to support the larger project scope.
Strengthened the senior management team with the appointment of key executives. Michael Barman was appointed Chief Development Officer and Salah Gamoudi joined as Chief Financial Officer. Mr. Barman most recently served as Managing Director in Investment Banking at Stifel Nicolaus Canada Inc. (formerly GMP Securities L.P.) and brings over two decades of banking experience advising senior executives and their boards. Mr. Gamoudi brings extensive experience from the oil and gas sector. Prior to joining the Company, he served as Chief Financial Officer of SandRidge Energy, Inc. where he successfully generated significant value for its shareholders.
Delivered the Definitive Feasibility Study (“DFS”) for the Phase 1A project at LANXESS South Plant.The DFS assumed an average annual production of 5,400 tpa of lithium carbonate over a 25-year operating life beginning in 2026. Phase 1A represents a modest scale-up from the Company’s existing Demonstration Plant that has been operating since May 2020. Advancement of the Phase 1A project is dependent on ongoing commercial discussions with LANXESS and the finalization of the Arkansas lithium royalty.
Established an at-the-market equity program. Net proceeds to the Company for the fiscal year totaled C$2.8 million and US$13.3 million from the issuance of 1.5 million shares on the TSX Venture Exchange and 9.1 million shares on the NYSE American LLC, respectively. No issuances have been completed under the ATM Program since April 10, 2024.
Cash and working capital of C$52.9 million and C$39.6 million, respectively, as of June 30, 2024.
The Company has no term or revolving debt obligations as of June 30, 2024.
Consolidated Financial Statements
This news release should be read in conjunction with the Company’s Consolidated Financial Statements and MD&A for the year ended June 30, 2024, which are available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
Q4 AND FISCAL YEAR 2024 RESULTS CONFERENCE CALL AND WEBCAST
The Company will hold a conference call and webcast to discuss its fourth quarter and fiscal year 2024 on Tuesday, October 1st at 3:30 p.m. ET. Access to the call is available via webcast or direct dial.
Conference Call and Webcast Details Standard Lithium Fourth Quarter and Fiscal Year 2024 Results Call and Webcast October 1, 2024 3:30 p.m. Eastern Time (US and Canada)
Participant Information: USA / International Toll +1 (646) 307-1963 USA – Toll-Free (800) 715-9871 Canada – Toronto (647) 932-3411 Canada – Toll-Free (800) 715-9871
Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The Company prioritizes projects characterized by the highest quality resources, robust infrastructure, skilled labor, and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s flagship projects are located in the Smackover Formation, a world-class lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor ASA, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively exploring promising lithium brine prospects in East Texas. Additionally, the Company is advancing the Phase 1A project in partnership with LANXESS Corporation, a brownfield development project located in southern Arkansas. Standard Lithium also holds an interest in certain mineral leases in the Mojave Desert in San Bernardino County, California.
Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.
Qualified Person
Steve Ross, P.Geol., a qualified person as defined by National Instrument 43-101, and Vice President Resource Development for the Company, has reviewed and approved the relevant scientific and technical information in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
I want to begin by thanking the Prime Minister of Antigua and Barbuda, Gaston Browne, and WHO Director-General, Dr. Tedros Ghebreyesusas, as well as all of our distinguished guests present for this special occasion.
Our gathering today marks a critical milestone; we are one year away from the next UN high-level meeting on NCDs, and just less than six years out from the 2030 SDG deadline.
Yet despite the ticking clock above our heads, underinvestment in health services has become a deadly norm; the gap between the need for, and availability of, quality care and support for people affected by NCDs remains as wide as ever.
Meanwhile, the SDGs, intricately linked with NCDs and mental illness, are careening off-track.
We are best placed to improve health outcomes for NCDs only if we fully know and understand the complex relationship between NCDs and the global goals.
Excellencies,
Let me briefly outline this connection on three fronts.
First, we must fully understand the link between health, climate change and air pollution.
Extreme weather events, such as heatwaves, storms and floods, impact people living with NCDs by worsening their conditions.
When food systems are disrupted, the opportunities and capacities to maintain healthy diets diminish.
When the air we breathe is toxic, our health can no longer be sustained. Ninety-nine per cent of humanity breathes polluted air – leading to an estimated 8 million premature deaths – including more than 700,000 children under five.
Small island nations understand this deadly interplay all too well, and I commend the bold action championed by many on this front.
Second, NCDs and the economy are inextricably linked.
High out-of-pocket payments for NCD treatment push many people into poverty. Chronic conditions also take people out of work with little or no alternative income, continuing the vicious cycle.
Third, and finally, let me underscore the tragic connection between health, conflict and emergencies.
We are living through a time where conflicts are raging across the globe. In times like these of crisis, the needs of people living with NCDs and mental health conditions, are often left unmet and left behind.
Access to essential medicines is cut off.
Acute mental distress increases.
The impacts of COVID-19 still linger on. The world is still catching up on delayed vaccinations and key health services, most of which are related to the prevention of NCDs.
Excellencies,
We are gathered here today because only political will can help turn the tide. Your political commitments and actions are critical to building more resilient health systems that address these equity gaps.
To succeed in the fight against NCDs, governments must act decisively by integrating One Health principles, strengthening national NCD action plans, ensuring equitable access for vulnerable populations, and allocating sustainable funding to public health initiatives that reduce NCD risk factors and address root causes.
The critical role of research for development, robust data systems, accelerating innovation and technologies in advancing solutions to NCDs is also key.
So today, my ask of you is simple: let’s collaborate across borders, sectors, and disciplines to build a more resilient, healthy world for all.
I hope our conversation today will spark optimism and the bold decision-making that is needed at this critical juncture.
We have 52 weeks left to the next high-level meeting on NCDs – let’s make them count.
Source: United States of America – Department of State (video statements)
President Biden Addresses the 79th Session of the United Nations General Assembly, on September 24, 2024.
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Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.
The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.
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