NewzIntel.com

Category: Asia

  • MIL-OSI Asia-Pac: Speech by FS at Bloomberg Global Regulatory Forum in New York (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Financial Secretary, Mr Paul Chan, at the Bloomberg Global Regulatory Forum in New York, yesterday (October 22, New York time): Mike (Founder of Bloomberg L.P. & Bloomberg Philanthropies, Mr Michael Bloomberg), Mr Cotzias (Global Head of External Relations of Bloomberg, Mr Constantin Cotzias), distinguished guests, ladies and gentlemen,     Good afternoon. I’m pleased to be here, in New York City, in fall. And delighted to hear that baseball, more than politics, is still the talk of the town.      Well, baseball and finance. For that, for hosting today’s Global Regulatory Forum, for consistently driving high-powered discussion on the future of global finance, my thanks to Bloomberg.     Last year’s Forum took place for the first time in Hong Kong, when we discussed how to navigate complexity and unlock opportunities. A year on, many things in the financial world have changed, and I’m pleased to bring you some positive updates about our city.Hong Kong: strong fundamentals     Despite several challenging years, from social violence to the pandemic, Hong Kong is back, back once again with a stable, welcoming and promising business environment.      Our strong fundamentals continue to be internationally recognised. Hong Kong ranks once again among the top three global financial centres, behind only New York and London.      Canada’s Fraser Institute has again ranked Hong Kong the world’s freest economy.      The International Monetary Fund and credit-rating agencies have reaffirmed Hong Kong’s institutional framework, our quality regulation and economic and financial resilience.      These commendations are echoed by the global investor community. Total banking deposits in Hong Kong, for example, have grown 5 per cent, or US$100 billion, this year to date, reaching more than US$2 trillion.      Our asset-and-wealth-management sector is also growing. We are managing over US$4 trillion in assets, and over half of that value was sourced from investors outside Hong Kong and the Chinese Mainland.      Coupled with easing interest rate cycles and the Mainland’s stimulus package to inject liquidity to the banking sector and provide more support to the real estate sector, our stock market has gone on a rally, rising some 15 per cent in the past month or so.       From late September to early October, we have seen strong net buys from American and European investors, constituting some 85 per cent of the buy side by value. And 90 per cent of those investors are long-term fund managers and investment banks.     International investors have good reason to be confident in Hong Kong. Our singular “one country, two systems” arrangement is here to stay, here for the long term.      That clear and compelling commitment has been reiterated, time and again, by President Xi Jinping. Indeed, the arrangement was designed not for short-term expediency but for the long-term interests of our country. It is clear that the Mainland is fully embracing high-level opening up, evident in the conclusions of state and party meetings in Beijing in the past year or so. The Mainland will support Hong Kong in remaining as a “super connector”, to assist in realising the country’s vision.      We can, and will, continue to do just that, thanks to the advantages that define Hong Kong’s international character: our common law tradition, a judiciary that exercises powers independently; the free flow of goods, capital, talent and information; a currency pegged to the US dollar; and business practices that align with the best international standards.     For so long, we have built our success as an international financial, trade and shipping centre on these merits, and they will continue to underpin Hong Kong’s development in the future.      Robust financial regulation     But still, Hong Kong is a small, fully open and externally-oriented economy. That means we are prone to external shocks and volatility. The trials and tribulations in the Asian Financial Crisis in 1998, the Global Financial Crisis of 2008, and the market squeeze during the onset of the COVID pandemic, are good lessons to learn.      Each time we weathered a crisis, we grew more resilient, but the take home message for us is clear: first, we need to identify systemic weaknesses and vulnerabilities, and address them. Second, establish multi-sectoral risk detection and monitoring systems to raise alarm against potential crises. Third, build in a strong buffer to allow us to respond to the unknowns.       This is particularly valid for Hong Kong which implements a linked exchange rate system. Hong Kong dollar is pegged to the US dollar, and therefore we must have sufficient monetary depth to enforce our convertibility undertakings and defend our currency board system. To ensure we have ample liquidity as we need it, we have a foreign exchange reserve of more than US$420 billion at our disposal.      In light of rising geopolitical and economic challenges, we’ve established a high-level, cross-market, co-ordinated and round-the-clock monitoring mechanism. It covers all sectors of the financial market and gathers all financial regulators, allowing us to detect looming risks.     I’m glad to report that over the past few years, our financial markets have been functioning in an orderly manner, despite volatility that might appear from time to time. The role of regulators in market development     Good regulation, of course, is only half the story. For the ultimate goal of regulation is to promote the healthy and sustainable development of the financial market. Good market development, in my view, is equally important, and it is the best means to future-proof our financial systems.      This requires the regulatory regime be agile and forward-looking. This requires the regime to respond to market and economic changes, embrace and empower technological innovation, and create the conditions for markets to thrive.      It’s why in Hong Kong, regulators have been given a dual mandate, serving both as regulators and market enablers.      Our listing regime reform is a good case in point. Back in 2018, the Government and the financial regulators made bold decisions to allow pre-profit or pre-revenue biotech companies, and new economy companies with weighted voting rights structures, to list on our stock exchange. The idea was met with doubt initially. But today the facts speak for themselves: new economy companies constitute only 13 per cent of the total number of listed companies, but their capitalisation accounts for 26 per cent. These reforms have not only broadened our market’s appeal but also put Hong Kong as a leading listing hub for innovative enterprises.     Reform is an ongoing process. For instance, last year we introduced a new Chapter in our listing rules to facilitate the listing of specialist technology companies.     Looking ahead, two key areas will be vital for Hong Kong’s financial future: enhancing our financial connectivity with the world, and embracing innovation.Enhancing Connectivity      Connectivity has always been the trump card of Hong Kong – although “trump” may be a word that you may now love or hate. For long, we have been the premier listing platform for Mainland companies going global. The launch of the “Stock Connect” 10 years ago was a landmark in forging close connectivity between the two markets. Its very significance was to allow foreign investors to make use of the Hong Kong Stock Exchange, and all the regimes, regulation and practices with which they are familiar, to access the Mainland’s stock market. Today, over 70 per cent of the A-share holdings by foreign investors were acquired through the Stock Connect. The Scheme has been continuously expanding, now covering bonds, ETFs, derivatives such as swap contracts.      Just in April this year, the China Securities Regulatory Commission announced four further measures to expand the Connect Schemes, including enlarging the scope of ETFs Connect, covering REITs in Stock Connect, and more. Meanwhile, it also made clear that they will support leading Mainland companies to list on the Hong Kong Stock Exchange. Obviously our IPO market has seen a rebound. In the first nine months this year, we raised more than US$7.1 billion, ranking fourth globally thus far.       Looking ahead, Hong Kong is also strengthening connections with other markets in the ASEAN countries, the Middle East and the Belt and Road countries. For instance, next week, we will be seeing the launch of two ETFs on the Saudi Stock Exchange investing in the Hong Kong Stock market.     So Hong Kong’s role as a connector of markets will only grow stronger. And with this, our financial regulators will continue to make it their strategic priorities to enhance collaboration with regulatory counterparts for timely and effective responses. Embracing innovation      Ladies and gentlemen, another area essential to our future is innovation.      In Hong Kong, we’re taking a balanced regulatory approach to enable financial innovation.      For example, last year, we introduced a regulatory regime for digital assets, along the principle of “same activity, same risks, same regulation”. The key feature is to put in place guardrails for investor protection, while enabling financial innovation to thrive in a responsible and sustainable manner.      So far, three firms have been issued with virtual asset trading platform licences, and we are expecting more in the next couple of months.      Besides, legislation will be introduced later this year for the regulation of stablecoins.      Then there’s also AI (artificial intelligence), which is reshaping the financial services industry, driving new products and services that enhance efficiency, security and customer experience.      Like blockchain and other new technologies, we must address the potential challenges of AI, such as cybersecurity, data privacy and the protection of intellectual property rights.      To that end, we will publish a policy statement next week. We will work to provide a clear supervisory framework and create a conducive and sustainable market environment.      Concluding remarks     Ladies and gentlemen, alongside changing global financial landscape comes far-reaching opportunity. Judging from Hong Kong’s experience, capturing such opportunities calls for the mentality of policy makers to focus not just on regulation compliance but also market development. For some, this may require a paradigm shift. But in our view, it will be an essential path to future-proof our financial markets, ensuring their long-term sustainable growth.      Finally, I wish to convey my thanks again to Bloomberg for inviting me to this Forum. I wish you all the best of business and health in the coming year. Thank you.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Let’s tax carbon: Ross Garnaut on why the time is right for a second shot at carbon pricing

    Source: The Conversation (Au and NZ) – By Ross Garnaut, Professorial Research Fellow in Economics, The University of Melbourne

    Damitha Jayawardena/Shutterstock

    Australia now has a government and parliament wanting timely transition to net zero. We have a government and parliament wanting to build Australia as the renewable energy superpower of the zero-carbon world economy. For the time being, we have favourable international settings for using our opportunity.

    The government of Australia has embraced this superpower narrative, taken some big steps towards supporting its emergence, and articulated sound principles for guiding further policy development.

    But Australians in business and the community wanting to make large efforts to turn opportunity into reality find themselves in a tangle of policy uncertainty and contradiction.

    The source of the problem is the abolition of carbon pricing in 2014. Since then, the Commonwealth government has worked within constraints that rule out success.

    We can make a start towards net zero and becoming a renewable energy superpower without moving the constraints, but we can’t get far. This is a problem for any government of Australia, and not only for the current Labor government. We will not rise sustainably out of the post-pandemic dog days until we get energy policy right.

    Striking the right balance

    Striking the right balance between state intervention and market exchange is always essential for successful economic development, in all places.

    The market generally delivers goods and services more cost-effectively than the state where there is genuine competition among suppliers and purchasers of goods and services.

    The difference is especially large and important at a time of structural change and uncertainty. State decisions inevitably tend towards continuation on established paths and slow response to new opportunities.

    Australia will not make use of more than a small fraction of the superpower opportunities available to it without immense contributions from an innovative, competitive private business sector.

    So we have to design energy and related markets that provide the widest possible scope for competition among enterprises within clear rules understood in advance of investment decisions by all market participants.

    The state has to do well the things that only the state can do. Because government capacity is a finite resource, it is much more likely that it will do the essential things well if it doesn’t try to do the things that markets do well.

    The state must define the boundaries between the services that it delivers and those to be delivered by the market.

    In the electricity sector, government must take responsibility for design of the market rules and compliance with them. It must provide the natural monopoly services of electricity transmission and hydrogen transportation and storage. It must take ultimate responsibility for system security and reliability.

    For any market to work, individual market participants must be blocked by regulation from damaging others through their business decisions, or subject to a tax equal to the costs they impose on others. And they must be rewarded for large benefits that they confer on others.

    This is essential economics. Its understatement in Productivity Commission and financial media commentary on energy and climate policy discussion over the past decade reveals the debasement of Australian political culture that gave us the dog days.

    It has been politically incorrect to tell the truth out loud.

    It’s time for carbon pricing

    A crucial element of post-2030 market design is introduction of a green premium for zero-carbon energy.

    It is obviously necessary for low-cost decarbonisation and expansion of the electricity sector and building Australia as a renewable energy superpower. The green premium is crucial for securing international market access for the zero-carbon export industries.

    One of the dog days constraints on policy is that there should be no mandatory demands on private investors. Those constraints must be broken for the green premium to reflect the social cost of carbon, as it must if we are to achieve net zero by 2050 and build Australia as the renewable energy superpower.

    The economically efficient way of achieving the premium is carbon pricing. It would be most efficient within an economy-wide system, although it could be introduced initially for the electricity sector and extended to other industries later.

    Investors now need to know soon that there will be a premium reasonably related to the social cost of carbon after the Renewable Energy Target ends in 2030.

    What matters for the superpower industries is the green premiums for which they are eligible in other countries. Pending the emergence of appropriate premiums, the Commonwealth is proposing payments from the budget.

    That is appropriate. It can get the early movers started. It would be expensive if it continued for long. The superpower industries will grow rapidly if they have access to premiums corresponding to the social cost of carbon. Over time, payments from the Australian budget will be replaced by market premiums in destination countries.

    There are several possible forms of carbon pricing. The system operating in Australia from 2012 to 2014 was economically and environmentally efficient.

    It would have been linked to the EU Emissions Trading System from July 1 2014 if it had not been abolished the day before. The Australian carbon price would be equal to the European price. We would be introducing a European-type Carbon Border Adjustment Mechanism to ensure that Australian producers were not disadvantaged by competition in the domestic market from suppliers who were not subject to similar carbon constraints. The ETS (emissions trading scheme) would be contributing around 2% of GDP to public revenues – going a substantial part of the way to answering the daunting budget challenge to restoration of Australian prosperity.

    Part of that increased revenue could support payments to power users to ensure there was no increase in power prices to users until expansion of renewable generation and storage had brought costs down – along the lines of the A$300 per household introduced in the 2024 budget, but larger.

    The arrangements would provide automatic access for zero-carbon Australian goods to the high-priced European market. There would be no need to provide for a green premium for sales to Europe from the Australian market. The green premiums in other markets would at first need to be covered, as they are now, from the Australian public revenue.

    A carbon solutions levy

    Rod Sims (former chair of the Australian Competition and Consumer Commission) and I have suggested a carbon solutions levy. It is administratively simpler than the ETS. It would initially raise much more revenue.

    We propose exemption for coal and gas exports to countries in which Australian zero-carbon exports attract a premium comparable to the EU carbon price, even if it is not generated through an ETS.

    We would hope that if the carbon solutions levy were to be introduced from 2030, our major trading partners would by that time have introduced green premiums that justify exemption from the levy for coal and gas exports to those countries.

    The European Union would be exempt from the beginning. The Northeast Asian economies are moving towards eventual justification of exemption. China now has a country-wide emissions trading system.

    The carbon price in July 2024 is about A$21 per tonne, having increased by 50% since early in the year. The price is expected to continue rising until it is playing a major role in transformation of Chinese industry.

    Incidentally, China undertook to the United Nations Framework Convention on Climate Change that its emissions would peak by 2030, but its rapid expansion of renewable energy generation, electric vehicles and zero-carbon industrial technologies suggest that the peak may have come in 2023.

    Japan is working on direct budgetary support for importers of zero-carbon products which could pass through into a premium for zero-carbon exports from Australia.

    During a visit in April 2024, I was advised that the Japanese government is working towards issue of “green bonds” to pay for the premium. A carbon tax from 2035 would meet the cost of servicing and retiring the bonds.

    Korea and Taiwan are introducing their own mechanisms for supporting premiums for zero-carbon imports.

    One initial criticism of the carbon solutions levy is that it would cause leakage of Australian exports to competing suppliers of gas and coal. There would be some leakage, alongside substantial transfers from rents to the public revenues, and for metallurgical coal in particular, some increase in export prices.

    The price increase would introduce an element of green premium for Australian green iron exports. The Superpower Institute (a non-profit research organisation founded by Sims and I) has commissioned the Centre of Policy Studies at Victoria University to quantify the extent of leakage, transfers from rent and higher export prices. The results will be available for public discussion early in 2025. The study will also calculate the effect of the levy on Australian public finances, real incomes and real consumption.

    Regional considerations

    Australia’s main competitor in regional coal markets is Indonesia. Its main competitors in gas markets are Papua New Guinea, East Timor, Indonesia, Brunei and the Middle East petroleum producers.

    No informed person would suggest that there could be an economic problem with leakage to the Middle East: Saudi Arabia and the small Gulf states extract revenue from petroleum exports at much higher rates per dollar than Australia would after imposition of the levy.

    There is a case in the Australian national interest for not seeing expansion of export sales from Papua New Guinea and East Timor as being entirely a waste.

    But in their national interest and ours, I suggest that we seek to negotiate a four-way agreement on climate and energy with Indonesia, East Timor and Papua New Guinea.

    We would all impose carbon solutions levy-type levies at similar rates. This would be a major source of revenue for all of us.

    Participation of Indonesia removes leakage of coal exports. Indonesia already has an emissions trading scheme, although it generates a carbon price of only a few dollars per tonne.

    It may choose to remove other imposts on fossil carbon exports at the time of introduction of new carbon-related measures – such as the requirement to make 35% of coal exports available at prices well below international prices for domestic power generation.

    Participation of the four countries removes the leakage issue for gas. The four neighbours would cooperate in major development programs based on expansion of zero-carbon energy supply and goods production.

    There is active discussion in Indonesia of archipelago-wide electricity transmission infrastructure to allow the superior renewable energy resources of the outer islands – Papua, Nusa Tenggara, Sulawesi, Kalimantan, Sumatra – to contribute to decarbonisation and growth of zero-carbon industry everywhere, including in the Java heartland.

    The Indonesian grid would run close to neighbouring Australia, Papua New Guinea, East Timor, East and West Malaysia and the Philippines. It would be the geopolitically practical means of linking Australia and Singapore, as envisaged in the SunCable project in the Northern Territory.

    The Indonesian national grid could link to the Australian Sungrid discussed in my book The Superpower Transformation in Darwin and the Pilbara.

    The alternatives to carbon pricing are weak

    The alternatives to economy-wide carbon pricing are likely to turn out to be short-lived expedients that lead sooner rather than later to the return of today’s incoherence and underperformance in energy and climate policy and performance.

    The state must provide reliability of power supply to the general population.

    The Commonwealth government can do this without distorting competitive electricity markets by establishing an energy reserve I have proposed in my book The Superpower Transformation.

    The superpower industries depend on electricity and hydrogen markets operating efficiently and embodying carbon prices. Otherwise the market design issues relevant to their development are similar to those for electricity.

    Negative carbon externalities need to be corrected by taxation or alternative carbon pricing mechanisms. Positive externalities from innovation should be rewarded.

    Positive innovation externalities are important in the introduction of new industries, technologies and business models for the zero-carbon economy.

    Economy-wide carbon pricing at the social cost of carbon is essential to getting the balance right between state intervention and market exchange.

    Once it is in place with fiscal rewards for innovation, the government can let businesses decide which new industries and technologies warrant investment.

    Once carbon pricing is known to be coming into place reasonably soon, there is no further need for government underwriting of investment in power generation.

    There is no need to include a climate trigger in assessment of a project of any kind: if it emits carbon, it will pay for the climate damage it does.

    There is no need for government to take a view on climate grounds about the merits of nuclear power generation. It is zero-emissions generation and, like renewable energy, not subject to the carbon price. If it can compete with other forms of generation, it will find a place in private investment decisions on the energy mix.

    There is no need for government investment in nuclear power generation. Private investors will have the same incentives to invest in nuclear as in other zero-carbon generation technologies.

    There will be no need for the government to take a view on incentives for carbon capture and storage. If it is effective and emissions are actually reduced, carbon payments will be correspondingly reduced.

    The carbon price will allow private investors to get on with the job of expanding renewable energy supply at a rapid pace and decarbonising the economy more generally.

    This is an edited extract from Ross Garnaut’s new book, Let’s Tax Carbon: And Other Ideas for a Better Australia.

    Ross Garnaut is a Director and shareholder of Zen Energy. Together with Rod Sims, Ross is a co-founder and Director of The Superpower Institute, a not for profit think tank.

    – ref. Let’s tax carbon: Ross Garnaut on why the time is right for a second shot at carbon pricing – https://theconversation.com/lets-tax-carbon-ross-garnaut-on-why-the-time-is-right-for-a-second-shot-at-carbon-pricing-241806

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Beijing, Chengdu top China’s sci-fi city index

    Source: China State Council Information Office 3

    On Oct. 18, China’s latest science fiction city index was released, with Beijing and Chengdu topping the list, providing a reference for Chinese cities to develop their sci-fi industries and learn from each other.

    Professor Wu Yan speaks at the release of the 2024 China Science Fiction City Index Report in Chengdu, Sichuan province, Oct. 18, 2024. [Photo courtesy of China Science Fiction Research Center]

    The 2024 China Science Fiction City Index Report, compiled by the China Science Fiction Research Center, Chengdu Institute for High-Quality Development, and Shenzhen Science and Fantasy Growth Foundation, considers various factors such as economic foundation, technological innovation, cultural consumption and policy environment. The report evaluated 26 cities in China, each with a GDP exceeding 1 trillion yuan in 2023.

    “We hope to build a scientific evaluation index system to comprehensively and objectively reveal the differences and characteristics of different cities in terms of sci-fi development, providing a reference for cities to develop sci-fi and learn from each other,” said Wu Yan, a Chinese sci-fi pioneer, scholar, writer and professor at the Southern University of Science and Technology’s Center for the Humanities. Wu presented the report on behalf of the project team during the 2024 TianWen Chinese Science Fiction Literature Contest awards ceremony, which was held last weekend in Chengdu, Sichuan province.

    In designing the indicators, the project team followed four major principles: “scientific and practical,” “stable and dynamic,” “measurable and comparable” and “comprehensive and representative.” Based on the core concepts and strategic orientation of evaluation, they crafted three primary indicators: “industry development,” “cultural dissemination” and “fusion capabilities.”

    Each primary indicator was composed of secondary indicators, such as the intensity of sci-fi film and TV consumption, and the number of sci-fi related policy documents, sci-fi writers, sci-fi books published and sci-fi events. The selection of secondary indicators focused on measurability and representativeness, aiming to systematically assess the level of sci-fi development in cities in a multi-dimensional manner.

    The top 10 cities according to the selection criteria were: Beijing, Chengdu, Shanghai, Nanjing, Shenzhen, Hangzhou, Chongqing, Guangzhou, Wuhan and Changsha.

    Beijing, the capital of China and the city with the most resources, scored 81.01. The city has developed a sci-fi industry that encompasses content creation, IP conversion, special effects production, hard technology and immersive experiences. In 2020, the China Association for Science and Technology and the Beijing municipal government agreed to establish a sci-fi industry cluster at Shougang Park. The following year, Shijingshan district, where the park is located, launched measures to support and fund the formation of the nation’s sci-fi industry consortium.

    Chengdu, known as the “capital of Chinese sci-fi” and host of the 81st World Science Fiction Convention in 2023, scored 78.44. The magazine Science Fiction World, a leading global sci-fi publication for over 40 years which is headquartered in the city, has launched the careers of numerous prominent writers, including Liu Cixin. The city also holds prestigious awards such as the Galaxy Awards and the Chinese Nebula Awards.

    In 2023, Chengdu’s sci-fi industry revenue hit 23.52 billion yuan, up by 17.49% from the previous year, showcasing robust growth. Chen Ling, secretary general of the China Science Writers Association and executive deputy director of the China Science Fiction Research Center, highlighted the crucial role Chengdu’s sci-fi industry plays in national development, adding that the city excels in reading, gaming and merchandise.

    Another city worth noting is Shenzhen, which ranked first in terms of sci-fi integration capability. Over the years, the city’s substantial economic resources, robust innovation environment and talent attraction have laid a solid foundation for integrating various industries with sci-fi. Notably, in sci-fi infused technological innovation and urban construction, Shenzhen has demonstrated significant leadership.

    San Feng, a sci-fi researcher and project leader of the report, explained to China.org.cn that after Beijing and Chengdu, the other eight cities in the top 10 features cities from the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, benefiting from unique geographical advantages and supportive policies that enhance their competitiveness and potential for sci-fi development. Cities like Shanghai, Nanjing and Hangzhou in the Yangtze River Delta are notable for their sci-fi content industry and leisure tourism, with significant advancements in sci-fi films and games. Meanwhile, the Guangdong-Hong Kong-Macao Greater Bay Area has shown strong growth in sci-fi animation, games and merchandise manufacturing.

    Other cities’ sci-fi development has not yet achieved economies of scale. However, as national policies expand and regional economies develop synergistically, by leveraging local characteristics and resources, they can enhance sci-fi development, San said.

    MIL OSI China News –

  • MIL-OSI China: Hong Kong museum displays early Chinese photography collection

    Source: China State Council Information Office 3

    Over 500 photographs taken in the late Qing Dynasty (1644-1911) and early 20th century will be on display at the Hong Kong Museum of History from Wednesday, selected from over 24,000 photographs in a collection donated by the Moonchu Foundation on Tuesday.

    The exhibits captured moments of major historical events such as the Second Opium War (1856-1860) and the First Sino-Japanese War (1894-1895), and provided records of the urban landscapes, historic buildings and people’s livelihood in those days. Most of the exhibits have never been publicly displayed before.

    Highlights include a picture taken 180 years ago of Nam Van in Macao, which is one of the earliest photographs of China in existence today. Notable works like stereoscopic photos taken by American photographer James Ricalton in 1900 and landscape photographs taken by famous Chinese photographer Lai Fong are on display.

    Exhibition goers can also find photos known as “Cartes de visite” in the size of a calling card, which were popular for exchanges in social gatherings during the 19th century.

    The donation provides excellent materials for studying modern Chinese society and increasing the public’s understanding of Chinese history from a century ago, said Kevin Yeung, secretary for culture, sports and tourism of the Hong Kong Special Administrative Region (HKSAR) government when addressing Tuesday’s opening ceremony.

    Established in 2007, Moonchu Foundation is dedicated to supporting culture and education-related research, publications and talks.

    The exhibition is one of the events of the 4th Guangdong-Hong Kong-Macao Greater Bay Area Culture and Arts Festival. It will run through Feb. 3 next year.

    MIL OSI China News –

  • MIL-OSI: First Financial Corporation Reports Third Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    TERRE HAUTE, Ind., Oct. 22, 2024 (GLOBE NEWSWIRE) — First Financial Corporation (NASDAQ:THFF) today announced results for the third quarter of 2024. During the quarter, the Corporation closed its acquisition of SimplyBank, Dayton, Tennessee. The quarter was impacted by purchase accounting adjustments and charges, which are reflected in the results.

    • Net income was $8.7 million compared to $16.3 million reported for the same period of 2023;
    • Diluted net income per common share of $0.74 compared to $1.37 for the same period of 2023;
    • Return on average assets was 0.64% compared to 1.35% for the three months ended September 30, 2023;
    • Credit loss provision was $9.4 million compared to provision of $1.2 million for the third quarter 2023; and
    • Pre-tax, pre-provision net income was $19.9 million compared to $20.5 million for the same period in 2023.1

    The Corporation further reported results for the nine months ended September 30, 2024:

    • Net income was $31.0 million compared to $48.3 million reported for the same period of 2023;
    • Diluted net income per common share of $2.63 compared to $4.02 for the same period of 2023;
    • Return on average assets was 0.82% compared to 1.33% for the nine months ended September 30, 2023;
    • Credit loss provision was $14.2 million compared to provision of $4.8 million for the nine months ended September 30, 2023; and
    • Pre-tax, pre-provision net income was $51.1 million compared to $63.1 million for the same period in 2023.1

    ________________
    1Non-GAAP financial measure that Management believes is useful for investors and management to understand pre-tax profitability before giving effect to credit loss expense and to provide additional perspective on the Corporation’s performance over time as well as comparison to the Corporation’s peers and evaluating the financial results of the Corporation – please refer to the Non GAAP reconciliations contained in this release.

    Average Total Loans

    Average total loans for the third quarter of 2024 were $3.71 billion versus $3.15 billion for the comparable period in 2023, an increase of $558 million or 17.74%. On a linked quarter basis, average loans increased $508 million or 15.89% from $3.20 billion as of June 30, 2024. Increases in average loans over both periods were mostly a result of the acquisition of SimplyBank as further detailed in Total Loans Outstanding section below.

    Total Loans Outstanding

    Total loans outstanding as of September 30, 2024, were $3.72 billion compared to $3.12 billion as of September 30, 2023, an increase of $598 million or 19.17%. On a linked quarter basis, total loans increased $511 million or 15.96% from $3.20 billion as of June 30, 2024. The main driver of the increase was $467 million in loans acquired in the SimplyBank acquisition. Organic growth was primarily driven by increases in Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans.

    Norman D. Lowery, President and Chief Executive Officer, commented, “During the quarter, we closed the acquisition of SimplyBank, which gives us access to very attractive markets in Southeast Tennessee and Northwest Georgia. We also experienced another sound quarter of loan and net interest income growth. During the quarter our net interest margin expanded, and we expect continued improvement in coming quarters.”

    Average Total Deposits

    Average total deposits for the quarter ended September 30, 2024, were $4.71 billion versus $4.00 billion as of September 30, 2023, an increase of $705 million or 17.63%. Increases in average deposits over both periods were mostly a result of the acquisition of SimplyBank as further detailed in Total Deposits section below.

    Total Deposits

    Total deposits were $4.72 billion as of September 30, 2024, compared to $4.04 billion as of September 30, 2023, a $676 million increase, or 16.74%. On a linked quarter basis, total deposits increased $585.2 million, or 14.16%. $622 million in deposits were acquired in the SimplyBank acquisition. Non-interest bearing deposits were $831.6 million, and time deposits were $791.1 million as of September 30, 2024, compared to $770.5 million and $471.6 million, respectively for the same period of 2023.

    Shareholders’ Equity

    Shareholders’ equity at September 30, 2024, was $566.0 million compared to $470.2 million on September 30, 2023. During the last twelve months, the Corporation has not repurchased any shares of its common stock. 518,860 shares remain available for repurchase under the current repurchase authorization. The Corporation paid a $0.45 per share quarterly dividend in July and declared a $0.45 quarterly dividend, which was paid on October 15, 2024.

    Book Value Per Share

    Book Value per share was $47.93 as of September 30, 2024, compared to $40.00 as of September 30, 2023, an increase of $7.93 per share, or 19.82%. Tangible Book Value per share was $37.84 as of September 30, 2024, compared to $32.10 as of September 30, 2023, an increase of $5.74 per share, or 17.88%.

    Tangible Common Equity to Tangible Asset Ratio

    The Corporation’s tangible common equity to tangible asset ratio was 8.33% at September 30, 2024, compared to 8.04% at September 30, 2023.

    Net Interest Income

    Net interest income for the third quarter of 2024 was $47.2 million, compared to $41.2 million reported for the same period of 2023, an increase of $6.0 million, or 14.63%.

    Net Interest Margin

    The net interest margin for the quarter ended September 30, 2024, was 3.78% compared to the 3.74% reported at September 30, 2023. On a linked quarterly basis, the net interest margin increased 21 basis points from 3.57% at June 30, 2024.

    Nonperforming Loans

    Nonperforming loans as of September 30, 2024, were $14.1 million versus $12.6 million as of September 30, 2023. The increase was due primarily to the SimplyBank acquisition. The ratio of nonperforming loans to total loans and leases was 0.38% as of September 30, 2024, versus 0.40% as of September 30, 2023.

    Credit Loss Provision

    The provision for credit losses for the three months ended September 30, 2024, was $9.4 million, compared to $1.2 million for the third quarter 2023. The Corporation recorded $5.5 million in provision for the acquisition of SimplyBank. The increase in provision was also related to one previously identified credit, reflecting further deterioration in collateral values during the quarter.

    Net Charge-Offs

    Third quarter net charge-offs were $4.6 million compared to $2.1 million in the same period of 2023.

    Allowance for Credit Losses

    The Corporation’s allowance for credit losses as of September 30, 2024, was $46.2 million compared to $39.0 million as of September 30, 2023. The allowance for credit losses as a percent of total loans was 1.24% as of September 30, 2024, compared to 1.25% as of September 30, 2023. On a linked quarter basis, the allowance for credit losses as a percent of total loans increased 4 basis points from 1.20% as of June 30, 2024. The Corporation recorded $8.5 million in allowance for the acquisition of SimplyBank, which included $3 million to record purchased credit deteriorated (“PCD”) reserves.

    Non-Interest Income

    Non-interest income for the three months ended September 30, 2024 and 2023 was $11.2 million and $11.6 million, respectively.

    Non-Interest Expense

    Non-interest expense for the three months ended September 30, 2024, was $38.6 million compared to $32.3 million in 2023. This includes $844 thousand of acquisition-related expenses during the quarter, as well as an overall increase in operating expenses as a result of the acquisition.

    Efficiency Ratio

    The Corporation’s efficiency ratio was 64.43% for the quarter ending September 30, 2024, versus 59.57% for the same period in 2023.

    Income Taxes

    Income tax expense for the three months ended September 30, 2024, was $1.7 million versus $3.0 million for the same period in 2023. The effective tax rate for 2024 was 16.44% compared to 17.37% for 2023.

    About First Financial Corporation

    First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A., which is the fifth oldest national bank in the United States, operating 83 banking centers in Illinois, Indiana, Kentucky, Tennessee, and Georgia. Additional information is available at http://www.first-online.bank.

    Investor Contact:
    Rodger A. McHargue
    Chief Financial Officer
    P: 812-238-6334
    E: rmchargue@first-online.com

                                   
        Three Months Ended   Nine Months Ended
        September 30,    June 30,   September 30,    September 30,    September 30, 
        2024   2024   2023   2024   2023
    END OF PERIOD BALANCES                              
    Assets   $ 5,483,351   $ 4,891,068   $ 4,784,806   $ 5,483,351   $ 4,784,806
    Deposits   $ 4,717,489   $ 4,132,327   $ 4,040,995   $ 4,717,489   $ 4,040,995
    Loans, including net deferred loan costs   $ 3,715,235   $ 3,204,009   $ 3,117,626   $ 3,715,235   $ 3,117,626
    Allowance for Credit Losses   $ 46,169   $ 38,334   $ 39,034   $ 46,169   $ 39,034
    Total Equity   $ 565,951   $ 530,670   $ 470,168   $ 565,951   $ 470,168
    Tangible Common Equity (a)   $ 446,786   $ 438,569   $ 377,367   $ 446,786   $ 377,367
                                   
    AVERAGE BALANCES                              
    Total Assets   $ 5,483,572   $ 4,813,308   $ 4,814,251   $ 5,033,748   $ 4,828,165
    Earning Assets   $ 5,165,520   $ 4,556,839   $ 4,575,996   $ 4,762,940   $ 4,590,258
    Investments   $ 1,342,037   $ 1,279,278   $ 1,351,433   $ 1,309,879   $ 1,384,941
    Loans   $ 3,705,779   $ 3,197,695   $ 3,147,317   $ 3,361,207   $ 3,104,623
    Total Deposits   $ 4,705,614   $ 4,113,826   $ 4,000,302   $ 4,288,426   $ 4,124,520
    Interest-Bearing Deposits   $ 4,403,454   $ 3,413,752   $ 3,222,633   $ 3,714,432   $ 3,309,111
    Interest-Bearing Liabilities   $ 157,227   $ 152,303   $ 309,948   $ 176,985   $ 197,142
    Total Equity   $ 546,912   $ 517,890   $ 493,764   $ 529,174   $ 494,428
                                   
    INCOME STATEMENT DATA                              
    Net Interest Income   $ 47,170   $ 39,294   $ 41,150   $ 125,384   $ 127,672
    Net Interest Income Fully Tax Equivalent (b)   $ 48,630   $ 40,673   $ 42,539   $ 129,600   $ 131,774
    Provision for Credit Losses   $ 9,400   $ 2,966   $ 1,200   $ 14,166   $ 4,800
    Non-interest Income   $ 11,223   $ 9,905   $ 11,627   $ 30,559   $ 31,455
    Non-interest Expense   $ 38,564   $ 32,651   $ 32,265   $ 104,637   $ 95,932
    Net Income   $ 8,741   $ 11,369   $ 16,285   $ 31,034   $ 48,252
                                   
    PER SHARE DATA                              
    Basic and Diluted Net Income Per Common Share   $ 0.74   $ 0.96   $ 1.37   $ 2.63   $ 4.02
    Cash Dividends Declared Per Common Share   $ 0.45   $ 0.45   $ —   $ 1.35   $ 0.54
    Book Value Per Common Share   $ 47.93   $ 44.92   $ 40.00   $ 47.93   $ 40.00
    Tangible Book Value Per Common Share (c)   $ 36.22   $ 36.04   $ 33.69   $ 37.84   $ 32.10
    Basic Weighted Average Common Shares Outstanding     11,808     11,814     11,901     11,809     11,993

    ________________
    (a)  Tangible common equity is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible common equity by excluding goodwill and other intangible assets from shareholder’s equity.
    (b)  Net interest income fully tax equivalent is a non-GAAP financial measure derived from GAAP-based amounts. We calculate net interest income fully tax equivalent by adding back the tax equivalent factor of tax exempt income to net interest income. We calculate the tax equivalent factor of tax exempt income by dividing tax exempt income by the net of tax rate of 75%.
    (c)  Tangible book value per common share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate the factor by dividing average tangible common equity by average shares outstanding. We calculate average tangible common equity by excluding average intangible assets from average shareholder’s equity.

                           
    Key Ratios   Three Months Ended   Nine Months Ended  
        September 30,   June 30,   September 30,   September 30,   September 30,  
        2024   2024   2023   2024   2023  
    Return on average assets   0.64 % 0.94 % 1.35 % 0.82 % 1.33 %
    Return on average common shareholder’s equity   6.39 % 8.78 % 13.19 % 7.80 % 12.98 %
    Efficiency ratio   64.43 % 64.56 % 59.57 % 65.33 % 58.77 %
    Average equity to average assets   9.97 % 10.76 % 10.26 % 10.51 % 10.24 %
    Net interest margin (a)   3.78 % 3.57 % 3.74 % 3.63 % 3.83 %
    Net charge-offs to average loans and leases   0.49 % 0.59 % 0.24 % 0.43 % 0.24 %
    Credit loss reserve to loans and leases   1.24 % 1.20 % 1.25 % 1.24 % 1.25 %
    Credit loss reserve to nonperforming loans   326.65 % 240.85 % 310.19 % 326.65 % 310.19 %
    Nonperforming loans to loans and leases   0.38 % 0.50 % 0.40 % 0.38 % 0.40 %
    Tier 1 leverage   10.25 % 12.14 % 11.72 % 10.25 % 11.72 %
    Risk-based capital – Tier 1   13.63 % 14.82 % 14.61 % 13.63 % 14.61 %

    ________________
    (a)  Net interest margin is calculated on a tax equivalent basis.

                                   
                                   
    Asset Quality   Three Months Ended   Nine Months Ended
        September 30,   June 30,   September 30,   September 30,   September 30,
        2024   2024   2023   2024   2023
    Accruing loans and leases past due 30-89 days   $ 16,391   $ 14,913   $ 15,961   $ 16,391   $ 15,961
    Accruing loans and leases past due 90 days or more   $ 1,517   $ 1,353   $ 1,370   $ 1,517   $ 1,370
    Nonaccrual loans and leases   $ 12,617   $ 14,563   $ 11,214   $ 12,617   $ 11,214
    Other real estate owned   $ 169   $ 170   $ 63   $ 169   $ 63
    Nonperforming loans and other real estate owned   $ 14,303   $ 16,086   $ 12,647   $ 14,303   $ 12,647
    Total nonperforming assets   $ 17,179   $ 18,978   $ 15,671   $ 17,179   $ 15,671
    Gross charge-offs   $ 6,936   $ 6,091   $ 3,601   $ 16,219   $ 11,520
    Recoveries   $ 2,365   $ 1,414   $ 1,528   $ 5,449   $ 5,975
    Net charge-offs/(recoveries)   $ 4,571   $ 4,677   $ 2,073   $ 10,770   $ 5,545
                     
    Non-GAAP Reconciliations   Three Months Ended September 30,
        2024   2023
    ($in thousands, except EPS)                
    Income before Income Taxes   $ 10,429     $ 19,312  
    Provision for credit losses     9,400       1,200  
    Provision for unfunded commitments     100       —  
    Pre-tax, Pre-provision Income   $ 19,929     $ 20,512  
                 
    Non-GAAP Reconciliations   Nine Months Ended September 30,
        2024    2023 
    ($ in thousands, except EPS)            
    Income before Income Taxes   $ 37,140     $ 58,395  
    Provision for credit losses     14,166       4,800  
    Provision for unfunded commitments     (200 )     (100 )
    Pre-tax, Pre-provision Income   $ 51,106     $ 63,095  
     
    CONSOLIDATED BALANCE SHEETS
    (Dollar amounts in thousands, except per share data)
           
        September 30,   December 31, 
        2024   2023
        (unaudited)
    ASSETS            
    Cash and due from banks   $ 77,312     $ 76,759  
    Federal funds sold     1,356       282  
    Securities available-for-sale     1,271,992       1,259,137  
    Loans:            
    Commercial     2,112,738       1,817,526  
    Residential     924,276       695,788  
    Consumer     671,353       646,758  
          3,708,367       3,160,072  
    (Less) plus:            
    Net deferred loan costs     6,868       7,749  
    Allowance for credit losses     (46,169 )     (39,767 )
          3,669,066       3,128,054  
    Restricted stock     15,366       15,364  
    Accrued interest receivable     25,386       24,877  
    Premises and equipment, net     82,213       67,286  
    Bank-owned life insurance     128,242       114,122  
    Goodwill     93,363       86,985  
    Other intangible assets     25,802       5,586  
    Other real estate owned     169       107  
    Other assets     93,084       72,587  
    TOTAL ASSETS   $ 5,483,351     $ 4,851,146  
                 
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Deposits:            
    Non-interest-bearing   $ 831,575     $ 750,335  
    Interest-bearing:            
    Certificates of deposit exceeding the FDIC insurance limits     159,618       92,921  
    Other interest-bearing deposits     3,726,296       3,246,812  
          4,717,489       4,090,068  
    Short-term borrowings     84,363       67,221  
    FHLB advances     30,456       108,577  
    Other liabilities     85,092       57,304  
    TOTAL LIABILITIES     4,917,400       4,323,170  
                 
    Shareholders’ equity            
    Common stock, $.125 stated value per share;            
    Authorized shares-40,000,000            
    Issued shares-16,165,023 in 2024 and 16,137,220 in 2023            
    Outstanding shares-11,808,304 in 2024 and 11,795,024 in 2023     2,016       2,014  
    Additional paid-in capital     144,785       144,152  
    Retained earnings     677,155       663,726  
    Accumulated other comprehensive income/(loss)     (102,800 )     (127,087 )
    Less: Treasury shares at cost-4,356,719 in 2024 and 4,342,196 in 2023     (155,205 )     (154,829 )
    TOTAL SHAREHOLDERS’ EQUITY     565,951       527,976  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   $ 5,483,351     $ 4,851,146  
     
    CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
    (Dollar amounts in thousands, except per share data)
                 
        Three Months Ended   Nine Months Ended
        September 30,   September 30,
        2024   2023   2024   2023
            (unaudited)
    INTEREST INCOME:                        
    Loans, including related fees   $ 61,367   $ 49,146     $ 162,878   $ 140,220  
    Securities:                        
    Taxable     6,319     6,164       18,083     18,631  
    Tax-exempt     2,715     2,661       7,919     7,937  
    Other     1,294     752       2,989     2,864  
    TOTAL INTEREST INCOME     71,695     58,723       191,869     169,652  
    INTEREST EXPENSE:                        
    Deposits     22,197     13,627       59,622     35,111  
    Short-term borrowings     993     1,923       2,928     4,025  
    Other borrowings     1,335     2,023       3,935     2,844  
    TOTAL INTEREST EXPENSE     24,525     17,573       66,485     41,980  
    NET INTEREST INCOME     47,170     41,150       125,384     127,672  
    Provision for credit losses     9,400     1,200       14,166     4,800  
    NET INTEREST INCOME AFTER PROVISION                        
    FOR LOAN LOSSES     37,770     39,950       111,218     122,872  
    NON-INTEREST INCOME:                        
    Trust and financial services     1,251     1,140       3,903     3,642  
    Service charges and fees on deposit accounts     8,139     7,099       21,576     20,971  
    Other service charges and fees     191     213       700     613  
    Securities gains (losses), net     103     —       104     —  
    Interchange income     177     —       490     47  
    Loan servicing fees     274     447       957     997  
    Gain on sales of mortgage loans     411     321       886     811  
    Other     677     2,407       1,943     4,374  
    TOTAL NON-INTEREST INCOME     11,223     11,627       30,559     31,455  
    NON-INTEREST EXPENSE:                        
    Salaries and employee benefits     18,521     17,159       53,231     51,263  
    Occupancy expense     2,556     2,389       7,116     7,120  
    Equipment expense     4,280     3,580       12,736     10,404  
    FDIC Expense     558     613       1,721     1,977  
    Other     12,649     8,524       29,833     25,168  
    TOTAL NON-INTEREST EXPENSE     38,564     32,265       104,637     95,932  
    INCOME BEFORE INCOME TAXES     10,429     19,312       37,140     58,395  
    Provision for income taxes     1,688     3,027       6,106     10,143  
    NET INCOME     8,741     16,285       31,034     48,252  
    OTHER COMPREHENSIVE INCOME (LOSS)                        
    Change in unrealized gains/(losses) on securities, net of reclassifications and taxes     31,628     (34,934 )     24,067     (36,504 )
    Change in funded status of post retirement benefits, net of taxes     73     146       220     440  
    COMPREHENSIVE INCOME (LOSS)   $ 40,442   $ (18,503 )   $ 55,321   $ 12,188  
    PER SHARE DATA                        
    Basic and Diluted Earnings per Share   $ 0.74   $ 1.37     $ 2.63   $ 4.02  
    Weighted average number of shares outstanding (in thousands)     11,808     11,901       11,809     11,993  

    The MIL Network –

  • MIL-OSI: HEROWORKS to Participate in TTA 2024, Initiating Comprehensive Expansion into the Singapore Market

    Source: GlobeNewswire (MIL-OSI)

    SEOUL, KOREA, Oct. 21, 2024 (GLOBE NEWSWIRE) — South Korean hospitality tech company HEROWORKS is set to enter the Singapore market by introducing its hotel revenue management solution, ‘DatAmenity.’

    – HEROWORKS to Participate in ‘TTA 2024’, the Largest Tourism & Tech Expo in the Asia-Pacific Region

    – HEROWORKS to Supply its Hotel Revenue Management Solution ‘DatAmenity’ to the Singapore Market

    – Seeking Global Tourism Partners to Target the Asian Market with Localized Systems

    HEROWORKS has been selected as a participating company for the Travel & Tech Expo organized by the Singapore Tourism Enterprises Support Center (KTSC). From the 23rd to the 25th of this month, HEROWORKS will attend ‘Travel Tech Asia (TTA) 2024’ and ‘2024 ITB-Asia’ at the Marina Bay Sands Convention Centre in Singapore, seeking new business opportunities targeting the Asian hospitality tech market.

    With the aim of providing optimized solutions for the Singapore market, HEROWORKS will engage in networking and one-on-one investment meetings with key stakeholders, including venture capitalists, angel investors, and other investors. Through business consultations with these stakeholders, HEROWORKS plans to identify the specific needs of Singapore’s tourism and hospitality industries and to localize the ‘DatAmenity’ technology by partnering with companies that can create synergistic effects.

    DatAmenity is the first service in Korea to develop and implement a Revenue Management System (RMS) for hotels, and currently holds Korea’s number one market share. The solution collects and analyzes room data registered with Online Travel Agencies (OTAs), including pricing information and sales status, for all types of accommodations, such as hotels, motels, resorts, and pensions, assisting in optimally setting room sale prices.

    Unlike traditional hotel solutions, the DatAmenity solution is offered as a cloud-based SaaS (Software as a Service) model, allowing users to easily access and utilize the system anytime, anywhere. It currently serves approximately 500 accommodation facilities and has received significant positive feedback.

    Notably, DatAmenity has been recognized for its differentiated technological prowess in ‘Comparing Room Sales by Room Type.’ HEROWORKS identified the challenge that, despite having identical room configurations, differing room nomenclatures across hotels make accurate price comparisons difficult. In response, HEROWORKS developed a system allowing users (client companies) to set competitive hotels’ room classifications by their hotel’s room standards. This system, a proprietary technology exclusive to DatAmenity, has been proven innovative by acquiring a technology patent.

    HEROWORKS CEO Lee Chang-ju stated, “The demand for data-driven revenue management is increasing in Singapore’s hospitality industry.” He added, “Through participating in the TTA and ITB-Asia expos, we expect to accelerate our penetration into the Asian market by establishing partnerships with Singapore’s tourism and tech companies.”

    Meanwhile, HEROWORKS is a hospitality technology company specializing in developing automated systems for hotel revenue management. To address the gaps that existing hotel operational systems, such as Property Management Systems (PMS) and Channel Management Systems (CMS), cannot resolve, HEROWORKS has developed and operates a distinctive ‘Hotel Revenue Management Solution.’ Notably, the solution provides features that establish ‘optimal room sale prices’ and enable comprehensive viewing and management of ‘hotel customer reviews,’ contributing to enhanced hotel revenues.

    Social Links

    YouTube: https://youtu.be/e1kOthMDeUo?feature=shared

    Blog: https://blog.naver.com/datamenity

    Media Contact

    Brand: HEROWORKS

    Contact: Planning & Marketing Team

    Email: dyeong@heroworks.co.kr

    Website: https://www.heroworks.co.kr

    The MIL Network –

  • MIL-OSI: eQ Plc’s interim report Q3 2024 – eQ’s operating profit EUR 27.6 million

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc interim report
    22 October 2024 at 8:00 AM

    January to September 2024 in brief

    • During the period under review, the Group’s net revenue totalled EUR 50.9 million (EUR 52.3 million from 1 Jan. to 30 Sept. 2023). The Group’s net fee and commission income was EUR 49.8 million (EUR 51.5 million).
    • The Group’s operating profit fell by 8% to EUR 27.6 million (EUR 30.0 million).
    • The Group’s profit was EUR 21.9 million (EUR 23.8 million).
    • The consolidated earnings per share were EUR 0.53 (EUR 0.59).
    • The net revenue of the Asset Management segment decreased by 10% to EUR 45.5 million (EUR 50.3 million) and the operating profit by 15% to EUR 26.9 million (EUR 31.7 million). The management fees of the Asset Management segment fell by 10% to EUR 42.0 million (EUR 46.8 million) and the performance fees increased by 3% to EUR 4.0 million (EUR 3.9 million). During the review period, the assets managed by eQ Asset Management grew by 3% to EUR 13.3 billion (EUR 12.9 billion on 31 Dec. 2023).
    • The net revenue of the Corporate Finance segment was EUR 4.3 million (EUR 1.2 million)
       and the operating profit was EUR 1.5 million (EUR -0.9 million).
    • The operating profit of the Investments segment was EUR 0.5 million (EUR 0.4 million).
    • The net cash flow from the Group’s own private equity and real estate fund investment operations was EUR 0.7 million (EUR 0.2 million).

    July to September 2024 in brief

    • In the third quarter, the Group’s net revenue totalled EUR 16.7 million (EUR 16.6 million from 1 July to 30 Sept. 2023). The Group’s net fee and commission income was EUR 16.6 million (EUR 16.2 million).
    • The Group’s operating profit fell by 6% to EUR 9.6 million (EUR 10.2 million).
    • The Group’s profit was EUR 7.6 million (EUR 8.1 million).
    • The consolidated earnings per share were EUR 0.18 (EUR 0.20).
    Key ratios 1-9/24 1-9/23 Change 7-9/24 7-9/23 Change 1-12/23
    Net revenue, Group, MEUR 50.9 52.3 -3% 16.7 16.6 1% 70.9
    Net revenue, Asset Management, MEUR 45.5 50.3 -10% 15.2 15.9 -4% 66.9
    Net revenue, Corporate Finance, MEUR 4.3 1.2 251% 1.3 0.3 300% 3.9
    Net revenue, Investments, MEUR 0.5 0.4 15% -0.1 0.3 -133% -0.6
    Net revenue, Group administration and eliminations, MEUR 0.7 0.4   0.2 0.1    0.6
                   
    Operating profit, Group, MEUR 27.6 30.0 -8% 9.6 10.2 -6% 39.7
    Operating profit, Asset Management, MEUR 26.9 31.7 -15% 9.4 10.5 -10% 41.4
    Operating profit, Corporate Finance, MEUR 1.5 -0.9 265% 0.5 -0.2 331% 0.7
    Operating profit, Investments, MEUR 0.5 0.4 15% -0.1 0.3 -133% -0.6
    Operating profit, Group administration, MEUR -1.1 -1.3   -0.3 -0.4   -1.7
                   
    Profit for the period, MEUR 21.9 23.8 -8% 7.6 8.1 -6% 31.5
                   
    Key ratios 1-9/24 1-9/23 Change 7-9/24 7-9/23 Change 1-12/23
    Earnings per share, EUR 0.53 0.59 -9% 0.18 0.20 -8% 0.78
    Equity per share, EUR 1.64 1.65 -1% 1.64 1.65 -1% 1.85
    Cost/income ratio, Group, % 45.7 42.6 7% 42.8 38.5 11% 43.8
                   
    Liquid assets, MEUR 29.0 22.4 29% 29.0 22.4 29% 33.4
    Private equity and real estate fund investments, MEUR 16.5 17.1 -4% 16.5 17.1 -4% 16.6
    Interest-bearing loans, MEUR 0.0 0.0 0% 0.0 0.0 0% 0.0
                   
    Assets under management excluding reporting services, EUR billion 10.4 9.9 4% 10.4 9.9 4% 10.0
    Assets under management, EUR billion 13.3 12.8 4% 13.3 12.8 4% 12.9

    Mikko Koskimies, CEO

    Before the summer, it was expected that the Federal Reserve would not be able to cut its reference rate until late 2024 or in 2025. However, this view changed in early August, when labour market data was clearly weaker than expected. Strong fears emerged in the markets that the central bank acted too late when cutting interest rates and that the economy was at risk of a recession. Interest rate markets immediately anticipated that the Federal Reserve would cut its reference rate exceptionally quickly and sharply. Stock markets fell. Market positions were unwound at a rapid pace, resulting in Japanese yen’s sharp value increase and the Japanese stock market’s steep decline.

    Economic data released in the following weeks showed that market reactions had been disproportionate. However, the increased risk of recession was reflected in the Federal Reserve cutting its reference rate by 0.5 percentage points in September. The European Central Bank had already cut its reference rate in the summer and implemented another 0.25 percentage point cut in September. In Europe, economic growth differentials are exceptionally high, complicating the ECB’s monetary policy stance. Towards the end of the third quarter, China announced larger economic policy measures to boost growth. This led to a sharp rise in share prices at the very end of the quarter.

    Equity markets fluctuated in line with the recession, but as predictions of the economy’s soft landing returned, third-quarter returns turned clearly positive. At the beginning of the year, the US was the frontrunner, with the S&P 500 index returning as much as 21.7% in dollars (20.5% in euros). The rise of US share prices continues to be driven by a few technology companies. MSCI Europe had risen 11.6% since the beginning of the year. The Finnish stock market rose rapidly in the third quarter, up 8.8% from the start of the year. In emerging markets, share prices rose by 15.7% at the start of the year.

    eQ’s operating profit EUR 27.6 million

    The net revenue of the Group during the review period was EUR 50.9 million and the operating profit was EUR 27.6 million. Operating profit fell by 8 per cent from the previous year.

    eQ Asset Management’s assets under management increased

    eQ Asset Management’s net revenue in the review period fell by 10 per cent to EUR 45.5 million. The operating profit of the period fell by 15 per cent to EUR 26.9 million. The assets managed by eQ Asset Management grew by 3 per cent to EUR 13.3 billion during the period under review.

    As for traditional interest and equity investments, the returns of client portfolios in the first half were very good. Of the funds that eQ manages itself, 38 per cent surpassed their benchmark indices, and during a three-year period the corresponding figure was 62 per cent. During the review period eQ’s funds also received awards from both Morningstar and Lipper.

    As for sales, the year 2024 has gone well especially in Private Equity asset management. In 2024, Private Equity assets are raised to the eQ PE XVI North and eQ PE SF V funds, which make investments in Northern Europe. Their sizes increased to almost EUR 300 million in total at the end September. At the same time, the size the eQ VC II fund, which makes Venture Capital investments and which was started with the first closing of EUR 20 million last October, grew to 49 million dollars.

    Advium’s profit grew

    During the period under review, Advium’s net revenue totalled EUR 4.3 million (EUR 1.2 million). Operating profit was EUR 1.5 million (EUR -0.9 million).

    M&A activity in the third quarter of the year has remained at the same level as at the beginning of the year, but at a clearly lower level compared to the longer-term average. Volumes of the real estate transaction market are also still significantly below the long-term average.

    During the first nine months of 2024, Advium advised on four M&A transactions and one real estate transaction: Advising Aspo Plc on its minority investment in OP Suomi Infra, advising the eQ Commercial Properties fund on the sale of the Bredis retail park, advising an acquiring consortium on the public offer for Purmo Group, advising Innofactor Board of Directors on public cash offer for the company and advising Forcit on its agreement to acquire part of Orica’s Finnish and Swedish businesses.

    Jacob af Forselles was appointed as the Managing Director of Advium Corporate Finance Ltd and as a member to eQ Group’s Management Team. He started in his position at the beginning of August.

    The operating profit of Investments increased slightly

    The operating profit of the Investments segment was EUR 0.5 million (EUR 0.4 million), and the net cash flow was EUR 0.7 million (EUR 0.2 million). The balance sheet value of the private equity and real estate fund investments at the end of the period was EUR 16.5 million (EUR 16.6 million on 31 Dec. 2023). During the period, eQ Plc made a EUR 1 million investment commitment in the new eQ PE XVI North fund.

    Outlook

    The asset management market in Finland has grown strongly, and eQ’s growth has outpaced the market. We estimate that the long-term outlook for growth in the asset management market and for eQ in Finland is still good.

    For eQ’s real estate funds, 2023 was a difficult year due to an increase of the yields resulting from a strong rise in the interest rate level. As yields rose, values of properties clearly declined. Also, net subscriptions in funds were negative. The limited availability of real estate financing also contributed to a significant decrease in real estate transactions. With regard to the real estate funds, we expect 2024 to be a challenging year, although the long-term outlook for growth is good. Sales of eQ’s Private Equity products has continued to be strong, and the desire of Finnish asset management clients to increase Private Equity allocations in their portfolios will continue to support the growth of eQ’s Private Equity products. We also anticipate a growth in performance fees from 2025 onwards, due to the transfer of several Private Equity products to a performance fee stage. eQ’s competitive position in traditional asset management products and discretionary asset management is good thanks to excellent returns on investments. We believe that traditional asset management has great potential for growth in future years, considering however its characteristic short-term variation according to market conditions.

    ***

    eQ’s interim report 1 January to 30 September 2024 is enclosed to this release and it is also available on the company website at http://www.eQ.fi.

    eQ Plc

    Additional information:
    Mikko Koskimies, CEO, tel. +358 9 6817 8799
    Antti Lyytikäinen, CFO, tel. +358 9 6817 8741

    Distribution: Nasdaq Helsinki, http://www.eQ.fi, media

    eQ Group is a group of companies that concentrates on asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and private individuals. The assets managed by the Group total approximately EUR 13.3 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets. More information about the Group is available on our website http://www.eQ.fi.

    Attachment

    The MIL Network –

  • MIL-OSI United Nations: Renault Group takes a stand alongside the United Nations Special Envoy for Road Safety to make mobility safer

    Source: United Nations Economic Commission for Europe

    Renault Group and the United Nations, via the UN Economic Commission for Europe (UNECE), have entered into a two-year strategic partnership agreement to support the work of the UN Secretary-General’s Special Envoy for Road Safety, Jean Todt. 

    With this partnership, Renault Group has become the first automobile manufacturer to take a stand alongside the Special Envoy’s Secretariat and is stepping up its long-standing commitment to increasingly safe and accessible mobility in all its markets. 

    The partners will take action together to promote road safety by providing training, raising awareness and deploying innovation, with a view to benefiting everyone on roads.  

    Boulogne-Billancourt (France) and Geneva (Switzerland) – Renault Group and the Secretariat of the UN Secretary-General’s Special Envoy for Road Safety announce today a partnership to draw attention to road safety around the world, provide training and deploy technological breakthroughs to save lives. By supporting the UN’s endeavour, Renault Group is reasserting its determination to work towards ever safer and more accessible mobility benefiting everyone on roads. During this two-year partnership, Renault Group will share with the Special Envoy the expertise it has gathered through its long-standing commitment to road safety.  

    Renault Group’s commitment supports the UN’s aim to halve the number of global deaths and injuries from road traffic crashes.  

    “For Renault, taking safety seriously doesn’t just mean ticking boxes. It means fulfilling our regulatory obligations but also pushing further, guided by what we believe in and our determination to make a difference. By coming up with solutions that make our cars even safer and by pushing innovation everywhere it makes sense. So we are pioneering technology, but also taking action that can potentially make mobility safer, while ranking the issue at the top of the agenda everywhere. That is why I feel very happy that we are supporting Jean Todt’s and the United Nations’ commitment to road safety” Luca de Meo, Chief Executive Officer of Renault Group 

    A major societal concern

    In a world where road crashes remain the leading killer of children and youth aged 5 to 29 years (WHO 2023), there is an urgent need for collective efforts to address this crisis and pave the way for safer roads. 

    “There were an estimated 1.19 million road traffic deaths in 2021. These new WHO figures give us a sense of the horror we have to deal with. This is why it is so urgent to join forces with partners such as Renault to put an end to the carnage and shine a light on this silent pandemic. Without the active involvement of all actors, including institutional and public sector partners, civil society and the private sector, including car manufacturers, we won’t achieve our objective of halving the number of victims on roads by 2030. I commend Renault Group for its leadership and commitment at our side in this battle.” Jean Todt, the UN Secretary-General’s Special Envoy for Road Safety. 

    Road safety facts and figures worldwide (World Health Organization, 2023) 

    • Only 7 countries (France, Greece, Hungary, Italy, Luxembourg, Portugal and Sweden) have applied the WHO’s legislative best practices relating to five risk factors: speeding, drinking and driving, not wearing seat belts, not wearing helmets, and not transporting children in child restraints 

    • Only 10 countries (Belarus, Brunei Darussalam, Denmark, Japan, Lithuania, Norway, Russian Federation, Trinidad and Tobago, United Arab Emirates and Venezuela) succeeded in reducing road traffic deaths by over 50% between 2010 and 2021.

    About Renault Group  

    Renault Group is at the forefront of reinventing mobility. Backed by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in terms of electrification, Renault Group draws on the complementary nature of its four brands – Renault, Dacia, Alpine and Mobilize – to offer its customers sustainable and innovative mobility solutions. With operations in more than 130 countries, the Group sold 2.235 million vehicles in 2023. It employs nearly 105,000 people who embody its raison d’être on a daily basis, so that mobility brings us closer to one another. Ready to take up challenges on the road as well as in competition, the Group is committed to an ambitious and value-generating transformation. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced and electrified vehicles. In line with environmental challenges, Renault Group’s ambition is to achieve carbon neutrality in Europe by 2040. 

    https://www.renaultgroup.com  

    About the UN and road safety  

    The United Nations has been promoting road safety since the late 1940s, when the first international agreements on the issue were signed. Following the “Decade of Action for Road Safety 2011-2020”, the UN General Assembly in August 2020 adopted a resolution on “Improving Road Safety”, that reconfirmed its commitment to halving the number of global traffic deaths and injuries and to providing access to safe, affordable, accessible, and sustainable transport systems for all by 2030. In October 2021, the World Health Organization and the United Nations Regional Commissions, in cooperation with partners in the United Nations Road Safety Collaboration and other stakeholders, developed the Global Plan for the Decade of Action for Road Safety 2021-2030, as a guiding document to support the implementation of the Decade of Action 2021–2030 and its objectives. 

    In July 2022, the road safety community met in New York City for the first ever High-Level Meeting on Improving Global Road Safety at the United Nations General Assembly, unanimously adopting a text titled: “Political declaration of the high-level meeting on improving global road safety”. 

    To galvanize intersectoral actions and raise the visibility of road safety, the UN Secretary-General, Ban Ki-moon, appointed in 2015 Jean Todt as his Special Envoy for Road Safety. He was reconfirmed in this role by António Guterres, in 2017 and in 2021. In 2018, Jean Todt contributed to the creation of the UN Road Safety Fund (UNRSF). In his role as UN Special Envoy, Mr. Todt contributes, among other things, to mobilize sustained political commitment to make road safety a priority; to advocate and raise awareness of UN legal instruments on road safety; to share established good practices in this area; to generate adequate funding through strategic partnerships between the public, private and non-governmental sectors. 

    Special Envoy brochure and Twitter account. 

    The secretariat of the UN Secretary-General’s Special Envoy for Road Safety is hosted in UNECE. UNECE is the custodian of the United Nations road safety legal instruments applicable worldwide, such as the Convention on Road Traffic, the Convention on Road Signs and Signals, and the 1958, 1997 and 1998 Vehicle Regulations Agreements. UNECE remains the only permanent intergovernmental forum in the United Nations that focuses on improving road safety. 

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Human Rights Council Concludes Fifty-Seventh Regular Session after Adopting 37 Resolutions and One Statement by the President

    Source: United Nations – Geneva

    Council Extends Mandates of Nine Country and One Thematic Mandate Holders

    The Human Rights Council today concluded its fifty-seventh regular session after adopting 37 resolutions and one Statement by the President, in which it, among others, extended the mandates of nine country and one thematic mandate holders.

    The Council extended the mandate of the Office of the High Commissioner for Human Rights on promoting reconciliation, accountability and human rights in Sri Lanka under agenda item two.

    It extended for a period of one year the mandates of the independent international fact-finding mission for the Sudan under agenda item two; of the Special Rapporteur on the situation of human rights in Afghanistan, the Special Rapporteur on the situation of human rights in the Russian Federation, and the Special Rapporteur on the situation of human rights in Burundi, under agenda item four; and of the Independent Expert on the situation of human rights in Somalia, the Team of International Experts on the Democratic Republic of the Congo, and the Independent Expert on the situation of human rights in the Central African Republic under agenda item 10.

    Under agenda item four, the mandate of the independent international fact-finding mission on the Bolivarian Republic of Venezuela was extended for a period of two years. 

    The Council also decided to extend, for a period of three years, the mandate of the Special Rapporteur on the promotion and protection of human rights in the context of climate change.

    Further resolutions adopted concerned the thirtieth anniversary of the Beijing Declaration and Platform for Action; the role of good governance in the promotion and protection of human rights; countering cyberbullying; promotion of a democratic and equitable order; the use of mercenaries as a means of violating human rights and impeding the exercise of the right of peoples to self-determination; social reintegration of persons released from detention and persons subjected to non-custodial measures; the World Programme for Human Rights Education: the plan of action for the fifth phase; and on terrorism and human rights.

    Other resolutions concerned local government and human rights; the human rights to safe drinking water and sanitation; the human rights of migrants; human rights and indigenous peoples; promoting accessibility for the full enjoyment of all human rights by all; equal participation in political and public affairs; the elimination of domestic violence; the right to development; the situation of human rights in the Syrian Arab Republic; national human rights institutions; education as a tool to prevent racism, racial discrimination, xenophobia and related intolerance; from rhetoric to reality: a global call for concrete action against racism, racial discrimination, xenophobia and related intolerance; technical assistance and capacity-building to address the human rights implications of the nuclear legacy in the Marshall Islands; biodiversity and human rights; promotion, protection and enjoyment of human rights on the Internet; and youth and human rights.

    Resolutions on the enhancement of technical cooperation and capacity-building in the field of human rights; cooperation with Georgia; and technical assistance and capacity-building for Yemen in the field of human rights were also adopted.

    The President’s Statement adopted concerned the report of the Advisory Committee on its thirty-first session. 

    During the session, the Council adopted the final outcomes of the Universal Periodic Review of 14 States, namely those of New Zealand, Afghanistan, Chile, Cyprus, Viet Nam, Yemen, Vanuatu, North Macedonia, Comoros, Slovakia, Eritrea, Uruguay, the Dominican Republic and Cambodia.

    At the end of the session, the Council appointed four Special Procedures mandate holders: the Special Rapporteur on the situation of human rights in Belarus, Nils Muižnieks (Latvia); for the Working Group of Experts on People of African Descent, member from Western European and other States, Isabel Mamadou (Spain); for the Working Group on Enforced or Involuntary Disappearances, member from Asia-Pacific States, Mohammed Al-Obaidi (Iraq); and for the Working Group on the use of mercenaries as a means of violating human rights and impeding the exercise of the right of peoples to self-determination, member from Latin American and Caribbean States, Andrés Macias Tolosa (Colombia). 

    The Council also elected four members of its Advisory Committee: Frans Viljoen (African States), Miznah O.Alomair (Asia-Pacific States), Alessandra Devulsky (Latin American and Caribbean States), and Vassilis Tzevelekos (Western Europe and other States).

    Darius Staniulis, Vice-President and Rapporteur of the Human Rights Council, said over the past five weeks, the Council completed its extensive programme of work.  It held 23 interactive dialogues with Special Procedures mandate holders and expert mechanisms; nine interactive dialogues with the High Commissioner, Deputy High Commissioner, Assistant Secretary-General and other Office of the High Commissioner for Human Rights Representatives; five dialogues with international investigative mechanisms; five enhanced interactive dialogues; six panel discussions; and nine general debates.  The Council also adopted 14 outcomes of the Universal Periodic Review.  Finally, the Council completed the adoption of 37 resolutions and one President’s Statement across a wide range of issues.

    The Council adopted the draft report of the fifth-seventh session ad referendum.

    Omar Zniber, President of the Human Rights Council, in his concluding remarks,

    extended his deepest gratitude to the members of the Bureau, the Secretariat and all other United Nations staff for their cooperation, support and dedication during the session.  Mr. Zniber said the fifty-seventh session had been a success and was an example of multilateralism.

    The fifty-eighth regular session of the Human Rights Council is scheduled to be held from 24 February to 4 April 2025.

    Action on a Statement by the President Under Agenda Item One on Organizational and Procedural Matters

    In a Statement by the President (A/HRC/57/L.13) on the Report of the Advisory Committee, adopted without a vote, the Council takes note of the report of the Advisory Committee on its thirty-first session.

    Action on Resolutions Under Agenda Item Two on the Annual Report of the United Nations High Commissioner for Human Rights and Reports of the Office of the High Commissioner and the Secretary-General 

    In a resolution (A/HRC/57/L.1) on Promoting reconciliation, accountability and human rights in Sri Lanka, adopted without a vote, the Council decides to extend the mandate of the Office of the United Nations High Commissioner for Human Rights and all work requested of it by the Council in its resolution 51/1, and requests the Office to present an oral update to the Council at its fifty-eighth session and a comprehensive report on progress in reconciliation, accountability and human rights in Sri Lanka at its sixtieth session, to be discussed in an interactive dialogue.

    In a resolution (A/HRC/57/L.22) on Responding to the human rights and humanitarian crisis caused by the ongoing armed conflict in the Sudan, adopted by a vote of 23 in favour, 12 against and 12 abstentions, the Council reiterates its call for an immediate and complete ceasefire by all parties, without preconditions, and a negotiated and peaceful resolution to the conflict on the basis of inclusive, Sudan-owned and Sudan-led dialogue; decides to extend the mandate of the independent international fact-finding mission for the Sudan for a period of one year; requests the fact-finding mission to provide the Council with an oral update on its work at its fifty-ninth session and a comprehensive report at its sixtieth session, to be followed by an interactive dialogue, and to submit the report to the General Assembly at its eightieth session.

     In a resolution (A/HRC/57/L.24) on the Situation of human rights in Afghanistan, adopted without a vote, the Council decides to extend the mandate of the Special Rapporteur on the situation of human rights in Afghanistan for a period of one year, and requests the Special Rapporteur to present a report to the Council at its fifty-eighth session, including a separate study on the so-called “Law on propagation of virtue and prevention of vice”, to provide an oral update to the Council at its sixtieth session and to present a report to the General Assembly at its eightieth session; requests the Special Rapporteur to prepare a report on access to justice and protection for women and girls…and to present it to the Council at its fifty-ninth session, to be followed by an enhanced interactive dialogue; and also requests the Office of the High Commissioner to present, during an enhanced interactive dialogue at the sixtieth session of the Council, a comprehensive report, including a mapping of policies and practices, edicts and so-called laws by the Taliban that impair the enjoyment of human rights; and decides to remain seized of the matter.

    Action on Resolutions Under Agenda Item Three on the Promotion and Protection of All Human Rights, Civil, Political and Cultural Rights, Including the Right to Development 

    In a resolution (A/HRC/57/L.2) on Marking the thirtieth anniversary of the Beijing Declaration and Platform for Action, adopted without a vote , the Council decides to convene, during the high-level segment at its fifty-eighth session, a high-level panel discussion to commemorate the thirtieth anniversary of the Fourth World Conference on Women; invites the President of the Human Rights Council to consider the theme “Thirtieth anniversary of the Beijing Declaration and Platform for Action” for the annual high-level panel discussion on human rights mainstreaming, to be held at the fifty-eighth session of the Council; and also requests the High Commissioner to prepare a summary report on the panel discussion.

    In a resolution (A/HRC/57/L.5) on the Role of good governance in the promotion and protection of human rights, adopted without a vote, the Council requests the Human Rights Council Advisory Committee to prepare a study on the impact of artificial intelligence systems on good governance…highlighting good practices around the globe on the ways to develop, deploy, use and govern artificial intelligence systems, and to present the study to the Human Rights Council at its sixty-second session.

    In a resolution (A/HRC/57/L.7) on Countering cyberbullying, adopted without a vote, the Council decides to include the topic of countering cyberbullying against persons with disabilities in the context of its next annual interactive debate on the rights of persons with disabilities, to be held at its fifty-eighth session; requests the Office of the High Commissioner for Human Rights to prepare a report … on countering cyberbullying against older persons, and to present the report to the Council at its sixty-second session; and decides to remain seized of the matter.

    In a resolution (A/HRC/57/L.9) on the Promotion of a democratic and equitable international order, adopted by a vote of 27 in favour, 15 against and 5 abstentions, the Council calls upon States and the United Nations system to minimise the adverse impact of multiple interrelated global crises, including the COVID-19 pandemic, through the strengthening and enhancement of international cooperation; requests the High Commissioner for Human Rights to continue to provide all the human and financial resources necessary for the effective fulfilment of the mandate by the Independent Expert; and invites the Independent Expert to study and present concrete measures that can be adopted by States and international institutions to contribute to the promotion of a democratic and equitable international order and the transformation of the international financial architecture, in close cooperation with relevant stakeholders from all regions.

    In a resolution (A/HRC/57/L.10) on the Use of mercenaries as a means of violating human rights and impeding the exercise of the right of peoples to self-determination, adopted by a vote of 29 in favour, 14 against and 4 abstentions, the Council urges once again all States to exercise the utmost vigilance against the threat posed by the activities of mercenaries; and requests the Working Group on the use of mercenaries as a means of violating human rights and impeding the exercise of the right of peoples to self-determination to continue the work already carried out by previous mandate holders on the strengthening of international law and the international legal framework for the prevention and sanction of the recruitment, use, financing, arming and training of mercenaries, and to study and identify new sources and causes, emerging issues, manifestations and trends.

    In a resolution (A/HRC/57/L.17/Rev.1) on Social reintegration of persons released from detention and persons subjected to non-custodial measures, adopted without a vote, the Council requests the Office of the High Commissioner for Human Rights to prepare a comprehensive study, with practical recommendations on human rights and the social reintegration of persons released from detention and persons subjected to non-custodial measures, based on wide consultations with key stakeholders, and to present the study, accessible to persons with disabilities, to present to the Council at its sixtieth session.

    In a resolution (A/HRC/57/L.21) on the World Programme for Human Rights Education: the plan of action for the fifth phase, adopted without a vote, the Council reaffirms the continuation of the World Programme on Human Rights Education and launches its fifth phase, for the period 2025-2029; and decides to convene at its sixty-third session a high-level panel discussion to mark the fifteenth anniversary of the United Nations Declaration on Human Rights Education and Training, further decides that the discussion will be fully accessible to persons with disabilities, and requests the Office of the High Commissioner to prepare a summary report of the discussion and to submit it to the Council by its sixty-fourth session. 

    In a resolution (A/HRC/57/L.3) on Terrorism and human rights, adopted without a vote, the Council calls upon States to ensure that any measure taken to counter terrorism and violent extremism conducive to terrorism complies with international law; invites the Special Rapporteur on the promotion and protection of human rights and fundamental freedoms while countering terrorism to pay attention to the negative effect of terrorism on the enjoyment of human rights and fundamental freedoms, and to make recommendations in this regard; and decides to remain seized of this matter.

    In a resolution (A/HRC/57/L.6) on Local government and human rights, adopted without a vote, the Council requests the Office of the High Commissioner for Human Rights to convene a one-day panel discussion … prior to the sixtieth session of the Council, to exchange and review the best practices of States, local governments and other relevant stakeholders in overcoming the various challenges that local governments face in promoting and protecting human rights; also requests the Office of the High Commissioner to prepare a report … in which it compiles and analyses the best practices of States, local governments and other relevant stakeholders in overcoming the various challenges that local governments face in promoting and protecting human rights, taking into account the results of the panel, and to present the report to the Council at its sixty-third session. 

    In a resolution (A/HRC/57/L.23/Rev.1) on the Human rights to safe drinking water and sanitation, adopted without a vote, the Council decides to convene, at its fifty-ninth session, a panel discussion on the realisation of the human rights to safe drinking water and sanitation, and also decides that the discussion shall be fully accessible to persons with disabilities, including through the provision of hybrid modalities; and requests the High Commissioner for Human Rights to prepare a summary report on the panel discussion and to present it to the Council at its sixty-first session. 

    In a resolution (A/HRC/57/L.27) on the Human rights of migrants, adopted without a vote, the Council requests the Office of the High Commissioner to prepare a study on human rights monitoring in the context of migration, including at international borders, in consultation with States and other relevant stakeholders, and to submit the study to the Council before its sixtieth session; to convene a one-day intersessional panel discussion, accessible to persons with disabilities, and with appropriate gender representation, on measures to prevent, counter and address dehumanising and harmful narratives about migrants and migration, hate speech, xenophobia and related forms of intolerance against migrants; to ensure the meaningful participation of migrants and their family members; and to prepare a summary report on the panel discussion and the recommendations resulting from it, and to submit the report to the Council at its sixty-second session and to the General Assembly at its eighty-first session; and decides to remain seized of the matter. 

    In a resolution (A/HRC/57/L.29/Rev.1) on Human rights and Indigenous Peoples, adopted without a vote, the Council decides that the theme of the annual half-day panel discussion on the rights of Indigenous Peoples, to be held during the sixtieth session of the Council, will be the rights of Indigenous Peoples in the context of a just transition to sustainable energy systems, including in relation to critical minerals, and requests the Office of the High Commissioner to encourage and facilitate the participation of Indigenous women and youth in the panel, to make the discussion fully accessible to and inclusive for persons with disabilities, and to prepare a summary report on the discussion for submission to the Council prior to its sixty-second session; and invites the General Assembly to consider holding a high-level plenary meeting on the occasion of the twentieth anniversary of the United Nations Declaration on the Rights of Indigenous Peoples, during its eighty-second session, and to evaluate the implementation of the outcome document of the World Conference on Indigenous Peoples.

    In a resolution (A/HRC/57/L.33) on Promoting accessibility for the full enjoyment of all human rights by all, adopted without a vote (as orally revised), the Council invites the Office of the High Commissioner for Human Rights to continue to provide technical assistance and capacity-building support to States upon their request in developing and implementing policies and programmes on accessibility, to continue to share its expertise with the relevant intergovernmental organizations and United Nations agencies, funds and programmes and to assist the relevant special procedure mandate holders and treaty bodies to integrate the view of accessibility for all from the perspective of the full enjoyment of all human rights by all into their work in close consultation with the relevant stakeholders.

    In a resolution (A/HRC/57/L.34) on the Equal participation in political and public affairs, adopted without a vote, the Council calls upon all States to enhance the political participation of all women, and to address violence against women participating in political and public affairs; and requests the Office of the High Commissioner for Human Rights to continue its dissemination and promotion of the guidelines on the effective implementation of the right to participate in public affairs … and to prepare, in consultation with States and all other relevant stakeholders, a follow-up report on good practices and challenges that States face when using the guidelines, with a particular focus on participation in elections, and to present the report to the Council at its sixty-third session.

    In a resolution (A/HRC/57/L.35/Rev.1) on the Elimination of domestic violence, adopted without a vote (as orally revised), the Council decides to convene an intersessional panel discussion on the intensification of efforts to prevent and eliminate domestic violence, before its sixty-first session, and requests the Office of the United Nations High Commissioner for Human Rights to organise the panel discussion … and requests the Office of the High Commissioner to prepare a comprehensive report … on how to address structural and underlying causes and risk factors to prevent domestic violence, in consultation with States and all relevant stakeholders, and to present the report to the Council at its sixty-second session.

    In a resolution (A/HRC/57/L.19) on the Right to development, adopted by a vote of 29 in favour, 14 against and 4 abstentions, the Council requests the High Commissioner for Human Rights to continue to submit to the Council an annual report on the activities of the Office of the High Commissioner, including on inter-agency coordination within the United Nations system that has direct relevance to the realisation of the right to development; requests the Special Rapporteur and the members of the Expert Mechanism to participate in relevant international dialogues and policy forums relating to the implementation of the 2030 Agenda; requests the Office of the High Commissioner to organise the next biennial panel discussion on the right to development, to be held at its sixty-third session, in a format that is fully accessible to persons with disabilities, including sign language interpretation; and also requests the Office to prepare a report on the panel discussion and to submit it to the Council at its sixty-sixth session. 

    In a resolution (A/HRC/57/L.26) on Biodiversity and human rights, adopted without a vote, the Council requests the High Commissioner for Human Rights to conduct a global analytical study on the implementation of a human-rights based approach into the goals and targets of the Kunming-Montreal Global Biodiversity Framework, to be submitted to the Council at its sixty-first session; and encourages the Office of the High Commissioner to cooperate with other relevant United Nations organizations and bodies, as well as with Indigenous Peoples, people of African descent and groups in vulnerable situations on advancing human rights-based biodiversity action. 

    In a resolution (A/HRC/57/L.28) on the Promotion, protection and enjoyment of human rights on the Internet, adopted without a vote (as orally revised), the Council calls upon all States to accelerate efforts to bridge digital divides, including the gender digital divide, and to take the necessary and appropriate measures to promote free, open, interoperable, reliable, accessible and secure access to the Internet; and requests the Office of the High Commissioner for Human Rights to prepare a report on a human rights approach to meaningful connectivity and to overcoming digital divides, including by addressing threats to individuals’ access to the Internet, and to present it to the Council at its sixty-second session, to be followed by an interactive dialogue. 

    In a resolution (A/HRC/57/L.30) on Youth and human rights, adopted without a vote, the Council decides that the theme of the next biennial panel discussion, to be held during the sixtieth session of the Council, will be the role of youth in fostering peaceful societies and creating an enabling environment for the enjoyment of human rights by all, and requests the Office of the High Commissioner to organise the panel discussion following consultations with youth and youth-led organizations and to prepare a summary report on the panel discussion for consideration by the Council at its sixty-first session; and requests the Office of the High Commissioner, in consultation with States and relevant stakeholders, to conduct a detailed study on the impact of mental health challenges on the enjoyment of human rights by young people and to submit the study to the Council for consideration prior to its sixty-third session. 

    Before the resolution was adopted, the Council took action on and rejected amendment L.39.

    In a resolution (A/HRC/57/L.31/Rev.1) on the Mandate of the Special Rapporteur on the promotion and protection of human rights in the context of climate change, adopted without a vote (as orally revised), the Council decides to extend for a period of three years the mandate of the Special Rapporteur on the promotion and protection of human rights in the context of climate change under the same terms as provided for by the Council in its resolution 48/14; and requests the Special Rapporteur to report annually on the implementation of the mandate to the Council and the General Assembly in accordance with their programmes of work.

    Action on Resolutions Under Agenda Item Four on Human Rights Situations that Require the Council’s Attention 

    In a resolution (A/HRC/57/L.4) on the Situation of human rights in the Russian Federation, adopted by a vote of 20 in favour, 8 against and 19 abstentions, the Council decides to extend the mandate of the Special Rapporteur on the situation of human rights in the Russian Federation as defined by the Council in its resolution 54/23 for a period of one year, and requests the mandate holder to … present a comprehensive report to the Council at its sixtieth session and to the General Assembly at its eightieth session; and calls upon the Russian authorities to establish full and non-selective engagement with all United Nations human rights mechanisms, and to refrain from all forms of intimidation and reprisal against persons and associations for their cooperation with United Nations human rights mechanisms. 

    In a resolution (A/HRC/57/L.11) on the Situation of human rights in the Syrian Arab Republic, adopted by a vote of 26 in favour, 4 against and 17 abstentions, the Council demands that all parties to the conflict in the Syrian Arab Republic immediately comply with their respective obligations under international humanitarian law and international human rights law, and emphasises the need to ensure that all those responsible for such violations and abuses are held to account and that civilians are protected; and demands that the Syrian authorities cooperate fully with the Council and the Independent International Commission of Inquiry on the Syrian Arab Republic by granting the Commission immediate, full and unfettered access throughout the Syrian Arab Republic; demands that all parties to the conflict maintain rapid, unhindered, safe and sustainable humanitarian access and ensure that humanitarian assistance reaches its intended recipients.

    In a resolution (A/HRC/57/L.12) on the Situation of human rights in Burundi, adopted by a vote of 22 in favour, 10 against and 15 abstentions, the Council strongly condemns all human rights violations and abuses committed in Burundi; decides to extend the mandate of the Special Rapporteur on the situation of human rights in Burundi for a further period of one year; and requests the Special Rapporteur to present to the Human Rights Council, at its fifty-ninth session, an oral update on the situation of human rights in Burundi, and also to submit to the Council, at its sixtieth session, and to the General Assembly, at its eightieth session, a comprehensive report.

    In a resolution (A/HRC/57/L.8) on the Situation of human rights in the Bolivarian Republic of Venezuela, adopted by a vote of 23 in favour, 6 against and 18 abstentions (as orally revised), the Council decides to extend for a period of two years the mandate of the independent international fact-finding mission on the Bolivarian Republic of Venezuela to enable the mission to continue to investigate gross violations of human rights committed since 2014, with a particular focus on the situation of human rights in the lead-up to, during and after the 2024 presidential elections, and on the violence by armed individuals known as colectivos; and urges the Bolivarian Republic of Venezuela to resume cooperation in a full manner with the Office of the High Commissioner for Human Rights and the fact-finding mission. 

    Before the resolution was adopted, the Council took action on and rejected amendments L.40, L.41, L.42, L.43 and an oral amendment.

    Action on a Resolution Under Agenda Item Eight on Follow-up and Implementation of the Vienna Declaration and Programme of Action

    In a resolution (A/HRC/57/L.16) on National human rights institutions, adopted without a vote (as orally revised), the Council requests the Secretary-General and the High Commissioner for Human Rights to provide the Office of the High Commissioner with the financial and human resources necessary for the servicing of the sessions of the Subcommittee on Accreditation of the Global Alliance of National Human Rights Institutions; and requests the Secretary-General to submit to the Council, at its sixty-third session, a report on the implementation of the present resolution … and a report on the activities of the Global Alliance of National Human Rights Institutions in accrediting national institutions in compliance with the Paris Principles.         

    Action on Resolutions Under Agenda Item 9 on Racism, Racial Discrimination, Xenophobia and Related Forms of Intolerance, Follow-Up to and Implementation of the Durban Declaration and Programme of Action

    In a resolution (A/HRC/57/L.25) on Education as a tool to prevent racism, racial discrimination, xenophobia and related intolerance, adopted without a vote (as orally revised), the Council urges States, in particular, to adopt and implement laws, policies and programmes that prohibit and combat discrimination on the basis of race, colour, descent or national or ethnic origin, at all levels of education, both formal and non-formal; and requests the High Commissioner for Human Rights to submit to the Council at its sixty-third session a comprehensive report, accessible to persons with disabilities, including in an accessible and easy to read format, analysing relevant education-related practices and measures to prevent racism, racial discrimination, xenophobia and related intolerance, with input from all relevant stakeholders. 

    In a resolution (A/HRC/57/L.36/Rev.1) on From rhetoric to reality: a global call for concrete action against racism, racial discrimination, xenophobia and related intolerance, adopted by a vote of 30 in favour, 5 against and 12 abstentions, the Council decides that the Chair-Rapporteur of the Ad Hoc Committee on the Elaboration of Complementary Standards to the International Convention on the Elimination of All Forms of Racial Discrimination may request that the annual session of the Ad Hoc Committee be split into two full one-week segments; requests the High Commissioner for Human Rights to facilitate the interactive participation of six legal experts in one of the two full one-week segments of the fifteenth and sixteenth sessions of the Ad Hoc Committee, to be held in 2025 and 2026 respectively; requests the Chair-Rapporteur of the Ad Hoc Committee to present in person a progress report to the General Assembly at its eightieth session, and to participate in the interactive dialogue and carry out consultations to continue progress in the elaboration of complementary standards to the Convention; reiterates its decision to request the Group of Independent Eminent Experts on the Implementation of the Durban Declaration and Programme of Action to report annually on its session and activities to the Council, and that its report will be also transmitted and presented to the General Assembly, and in this regard requests the Chair of the Group to engage in an interactive dialogue with the Assembly under the agenda item entitled “Elimination of racism, racial discrimination, xenophobia and related intolerance”; and encourages the General Assembly to proclaim a second International Decade for People of African Descent commencing in 2025. 

    Action on Resolutions Under Agenda Item 10 on Technical Assistance and Capacity-Building 

    In a resolution (A/HRC/57/L.14) on Technical assistance and capacity-building to address the human rights implications of the nuclear legacy in the Marshall Islands, adopted without a vote, the Council requests the Office of the High Commissioner for Human Rights to cooperate with the Government of the Marshall Islands in the field of human rights and to provide technical assistance and capacity-building to the National Nuclear Commission of the Marshall Islands in advancing its national strategy for nuclear justice and pursuing transitional justice in its efforts to address the nuclear legacy; and requests the Office of the High Commissioner to prepare a report on addressing the challenges and barriers to the full realisation and enjoyment of the human rights of the people of the Marshall Islands, stemming from the State’s nuclear legacy, and to submit it to the Council at its sixty-third session, to be followed by an enhanced interactive dialogue.

    In a resolution (A/HRC/57/L.15) on Assistance to Somalia in the field of human rights, adopted without a vote, the Council decides to renew the mandate of the Independent Expert on the situation of human rights in Somalia, under agenda item 10, for a period of one year, to assess, monitor and report on the situation of human rights in Somalia; requests the Independent Expert to report to the Council at its sixtieth session and to the General Assembly at its eightieth session; and also requests the Independent Expert to provide an update to the Council in her report on progress on the implementation of the benchmarks and indicators in the transition plan to inform future action by the Council.

    In a resolution (A/HRC/57/L.18) on the Enhancement of technical cooperation and capacity-building in the field of human rights, adopted without a vote, the Council decides … that the theme of the annual thematic panel discussion under agenda item 10, to be held at its fifty-ninth session, will be “The role of technical cooperation and capacity-building in strengthening national structures which play a role in promoting and safeguarding human rights, particularly national human rights institutions and national mechanisms for implementation, reporting and follow-up”; and also requests the Office of the High Commissioner to prepare a report, to be submitted to the Human Rights Council at its fifty-ninth session, to serve as a basis for the panel discussion, on the role of technical cooperation and capacity-building among States, the Office and other relevant stakeholders, to support States’ efforts to strengthen national structures which play a role in promoting and safeguarding human rights.

    In a resolution (A/HRC/57/L.20) on Cooperation with Georgia, adopted by a vote of 24 in favour, 3 against and 20 abstentions, the Council demands that immediate and unimpeded access be given to the Office of the High Commissioner for Human Rights and other international and regional human rights mechanisms to Abkhazia, Georgia, and the Tskhinvali region/South Ossetia, Georgia; requests the High Commissioner for Human Rights to present to the Council an oral update on the follow-up to the present resolution at its fifty-eighth session and to present a report on developments relating to and the implementation of the present resolution at its fifty-ninth session; and also requests the High Commissioner to continue to provide technical assistance through the Office of the High Commissioner in Tbilisi.

    In a resolution (A/HRC/57/L.37) on Technical assistance and capacity-building in the field of human rights in the Democratic Republic of the Congo, adopted without a vote, the Council decides to renew, for one year, the mandate of the team of international experts on the Democratic Republic of the Congo, and requests the team to provide the necessary technical support to the Government in implementing effectively its National Transitional Justice Policy, in particular by taking account of the cross-border nature of conflict and insecurity in the Great Lakes, identifying the causes of conflict and preventing their recurrence, and designing and implementing mechanisms for transitional justice and the fight against impunity, and encourages it to support the Government in this regard; requests the team of international experts to submit its final report to the Council, in the framework of an enhanced interactive dialogue, at its sixtieth session and to present it with an oral update at its fifty-eighth session; requests the High Commissioner to present the Council with an oral update on the situation of human rights in the Democratic Republic of the Congo, in the framework of an enhanced dialogue, at its fifty-eighth session; also requests the High Commissioner to prepare a comprehensive report on the situation of human rights in the Democratic Republic of the Congo and to submit it to the Council, in the framework of an enhanced interactive dialogue, at its sixtieth session; and decides to remain seized of the matter until its sixtieth session.

    In a resolution (A/HRC/57/L.38/Rev.1) on Technical assistance and capacity-building in the field of human rights in the Central African Republic, adopted without a vote, the Council decides to renew, for one year, the mandate of the Independent Expert on the situation of human rights in the Central African Republic, which is to assess, monitor and report on the situation with a view to making recommendations relating to technical assistance and capacity-building in the field of human rights; requests the Independent Expert to pay particular attention to violations of human rights and international humanitarian law alleged to have been committed by all parties to the conflict; decides to convene, at its fifty-eighth session, a high-level dialogue to enable it to assess human rights developments on the ground…; requests the Independent Expert to provide an oral update on his report on technical assistance and capacity-building in the field of human rights in the Central African Republic to the Human Rights Council at its fifty-ninth session and to submit a written report to the Council at its sixtieth session and to the General Assembly at its eightieth session; and requests the United Nations High Commissioner for Human Rights to continue to provide the Independent Expert with all the necessary technical, human and financial resources to enable him to carry out fully his mandate.

    In a resolution (A/HRC/57/L.32) on Technical assistance and capacity-building for Yemen in the field of human rights, adopted without a vote, the Council requests the High Commissioner for Human Rights to continue to provide substantive capacity-building and technical assistance to the Government of Yemen and all requisite technical and logistical support to the National Commission of Inquiry, to enable it to continue to investigate allegations of violations and abuses committed by all parties to the conflict in Yemen and to submit its comprehensive report on alleged violations and abuses of human rights in all parts of Yemen as soon as it is available; and requests the High Commissioner to present a report on the implementation of technical assistance, as stipulated in the present resolution, to the Council at its sixtieth session.

    Other Matters 

    The Council appointed four Special Procedures mandate holders: the Special Rapporteur on the situation of human rights in Belarus, Nils Muižnieks (Latvia); for the Working Group of Experts on People of African Descent, member from Western European and other States, Isabel Mamadou (Spain); for the Working Group on Enforced or Involuntary Disappearances, member from Asia-Pacific States, Mohammed Al-Obaidi (Iraq); and for the Working Group on the use of mercenaries as a means of violating human rights and impeding the exercise of the right of peoples to self-determination, member from Latin American and Caribbean States, Andrés Macias Tolosa (Colombia). 

    The Council elected four members of its Advisory Committee: Frans Viljoen (African States), Miznah O.Alomair (Asia-Pacific States), Alessandra Devulsky (Latin American and Caribbean States), and Vassilis Tzevelekos (Western Europe and other States).

    The Council also adopted its draft report for the fifty-seventh session ad referendum.

    Bureau of the Council

    The President of the Council is Omar Zniber of Morocco.  The four Vice-Presidents are Febrian Ruddyard (Indonesia); Darius Staniulis (Lithuania); Marcela Maria Arias Moncada (Honduras); and Heidi Schroderus-Fox (Finland).  Mr. Staniulis also served as Rapporteur.

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

    HRC24.030E

    MIL OSI United Nations News –

  • MIL-OSI United Nations: 4 ways countries are strengthening women’s participation in security efforts

    Source: United Nations – Peacekeeping

    Written by Elssa Gbeily, a Strategic Communications Intern from Belgium and Lebanon focusing on gender issues with the UN Department of Peace Operations. She has a background in gender, peace and security.

    The full, equal and meaningful participation of women in all peacekeeping areas has been found to make our operations more effective and lets us better reflect and engage with the communities we serve. However, according to the latest data available, women still make up approximately 10% of peacekeeping’s police and military personnel.

    As UN military and police personnel are contributed by Member States, drawing from their own security institutions, troop and police contributors are critical to closing this gender gap. To help empower women peacekeepers and increase their numbers, UN Member States have committed to promote equal opportunity for all in their own security and defence institutions by identifying and removing barriers to women serving. This is making their own security sectors stronger while also leading to the deployment of more diverse military and police contingents to peacekeeping missions.

    On 17 October, the UN released its first-ever report on this issue, “Towards Equal Opportunity for Women in the Defence Sector.” It highlights that, despite the efforts of Member States to achieve gender equality, challenges and barriers still exist, making this a key issue for all. The report also showcases some innovative solutions that countries are using to boost women’s participation. Here are four standout best practices from the report:

    1. India: expanding opportunities for women in the armed forces

    India, a top contributor to UN peace operations, has made significant strides toward integrating women into its military forces. In 2020, the Indian Army began offering women permanent positions, giving them equal opportunities for career advancement. By 2022, the National Defence Academy admitted its first female cadets, symbolizing progress in building gender-equal pathways in military leadership.

    2. Canada: reforming military culture to promote inclusivity

    Canada is spearheading military reforms to eliminate gender bias and address sexual misconduct. In 2021, they established a Chief of Professional Conduct and Culture (CPCC to foster a safe and respectful environment for all service members. This cultural shift enhances the operational effectiveness of Canadian forces and, in turn, strengthens Canada’s peacekeeping deployments by ensuring inclusive participation.

    Colonel Marie-Ève Bégin, the Director General of the CPCC, highlighted that “the creation of [this new structure] shows our commitment to improving our organization’s culture.”

    3. Uruguay: empowering women in the armed forces through family support

    Uruguay has introduced initiatives to support women in its military, with a focus on deployment, helping them balance military service with caregiver responsibilities. With support from the Elsie Initiative Fund, the Ministry of Defence provides scholarships to cover childcare and elder care costs for deployed women and single parent families, regardless of gender, ensuring that caregiver obligations do not hinder participation in military operations and peacekeeping deployments.

    4. Ghana: training women for leadership in peacekeeping

    Ghana, another of UN Peacekeeping’s top troop-contributing countries, is addressing the challenge of advancing women’s careers in the national army by focusing on skills development, including in operational and tactical fields that are traditionally male-dominated, as well as on leadership opportunities.

    “We should continue to challenge gender stereotypes, call out discrimination, draw attention to biases and seek out inclusion,” says Commodore Faustina Anokye, the highest-ranking female officer in the history of the Ghanaian navy who also served as Deputy Force Commander of the UN peacekeeping mission in the Western Sahara (MINURSO).

    A global commitment to inclusive security

    Removing barriers to women who want to serve in the defence sector is a key way Member States are meeting their commitment to promote gender equality in peacekeeping missions. “If these institutions are not inclusive and representative,” said Alexandre Zouev, Assistant Secretary-General for Rule of Law and Security Institutions, “our gender parity efforts in peacekeeping will inevitably fall short.”

    Departments across the UN, through their Security Sector Reform (SSR) initiatives, are supporting Member States’ efforts to promote women’s participation in their defence sectors. The UN has also launched the Braking Barriers, Building Peace advocacy campaign, which is promoting equal opportunities in defence and security sectors around the world.  Through this work, the UN and its Member State partners are making peacekeeping more representative and responsive to diverse security needs, which is especially critical in today’s complex conflict environments.

    By committing to gender equality, the UN and its Member States are building more inclusive societies and enhancing sustainable peace and security for all.

    —

    This story is part of the “Action for Peacekeeping” (A4P) story series, which reports on efforts by the UN, its Member States, and other partners to strengthen peacekeeping operations, and the impact they have for people living in conflict areas.

    Women, Peace and Security is a key area of the A4P agenda and its implementation strategy A4P+, which seeks to enhance accountability to our peacekeepers. Supporting women’s full, equal, and meaningful participation in peace and political processes is central to enhancing operational effectiveness in peacekeeping and sustaining peace.

    MIL OSI United Nations News –

  • MIL-OSI USA News: FACT SHEET: Biden-⁠ Harris Administration Continues Recovery Efforts in North Carolina Following Hurricane  Helene

    Source: The White House

    Following Hurricane Helene’s devastating impacts across the Southeast and Appalachia, the Biden-Harris Administration continues its robust Federal efforts to help communities recover and rebuild. The storm heavily impacted North Carolina, where the Administration continues to surge resources and assist families, business owners, farmers, and other impacted communities receive the support and assistance they need and deserve.

    Federal disaster assistance for Hurricane Helene survivors has surpassed $474 million – including more than $86 million in housing and other types of assistance for survivors in North Carolina. Survivors can register for assistance at one of three Disaster Recovery Centers in Caldwell, McDowell, and Buncombe Counties, or on disasterassistance.gov, by calling 1-800-621-3362, or via the FEMA app.

    The Department of Defense continues to support search-and-rescue operations, route clearance, and commodities distribution across western North Carolina with 1,500 active-duty troops. The Department of Defense is also employing additional capabilities to assist with increasing situational awareness across the remote terrain of Western North Carolina. The Army Corps of Engineers continues missions supporting debris removal, temporary emergency power installation, infrastructure and water and wastewater assessments, and technical assistance. Over 2,000 North Carolina National Guard personnel along with over 200 Guardsmen from 15 States are conducting response operations in western North Carolina.

    As response efforts continue in North Carolina, more than 1,250 FEMA staff remain on the ground, with more arriving daily. Nearly 400 Urban Search and Rescue personnel remain in the field helping people. These teams have rescued or supported over 3,200 survivors to date.  

    Power has been restored to more than approximately 96 percent of customers, as a result of 10,000 utility personnel working around the clock. Cellular restoration also continues to improve, with more than 93 percent of cellular sites in service. FEMA is boosting response coordination by providing 40 Starlink units to ensure first responders can communicate with each other.

    Commodity distribution, mass feeding, and hydration operations continue in areas of western North Carolina. FEMA continues to send commodity shipments and voluntary organizations are supporting feeding operations with bulk food and water deliveries coming via truck and aircraft. Mobile feeding operations are reaching survivors in heavily impacted areas, including three mass feeding sites in Buncombe, McDowell and Watauga counties. The Salvation Army has 20 mobile feeding units supporting this massive operation and has provided emotional and spiritual care to survivors. To date, the American Red Cross is engaging in targeted distribution of emergency supplies in low-income communities with high levels of minor or affected residential damage.

    Additional recovery efforts in North Carolina include:

    Supporting Infrastructure Recovery

    As part of the robust, whole-of-government response to Hurricane Helene, the U.S. Department of Transportation is supporting response and recovery efforts in impacted communities in North Carolina. DOT personnel are on the ground in multiple locations of the state.

    On October 5, the Department of Transportation’s Federal Highway Administration (FHWA) announced $100 million in Quick Release Emergency Relief funding to support North Carolina. The funding helps pay for the costs of immediate emergency work resulting from Hurricane Helene flood damage. Additional funding will flow to affected communities from the Emergency Relief program.

    FHWA worked closely with North Carolina and other federal agencies to assess infrastructure damage, including supporting hundreds of bridge inspections and other critical infrastructure assessments across the Southeast. On October 8, FHWA Acting Administrator Kristin White visited the region with Governor Roy Cooper, North Carolina Department of Transportation Secretary Joey Hopkins and other federal, state and local officials and got a first-hand look at impacts from the storm and recovery efforts.   

    The Federal Aviation Administration (FAA) continues to work with partners in affected parts of North Carolina and Tennessee, as the national airspace steadily returned to normal operations.

    The FAA Air Traffic Organization Technical Operations Team is on-site and leading communications restoration efforts at air traffic facilities. FAA also supported the North Carolina Air National Guard by providing advisory services at Rutherford County Airport and Avery County Airport.

    The FAA worked with state and local governments, critical infrastructure owners and operators, and first responders to enable drones to support response and recovery. The FAA granted permission to allow Wing to temporarily conduct beyond visual line of sight drone package deliveries for Walmart’s pharmacy in western North Carolina, delivering essential items including prescription medicine, medical supplies, and medical equipment to hard-to-reach locations.

    Additionally, President Biden’s approval of a Presidential Emergency Declaration for North Carolina affords the state a period of emergency regulatory relief from Federal Motor Carrier Safety regulations, including flexibility around driving time for property- and passenger-carrying vehicles. This allows truck drivers to get essential supplies to affected areas in North Carolina. It may also provide opportunities for motorcoach buses to deliver relief teams to response locations and allow for the transport and evacuation of residents.

    On October 10, Environmental Protection Agency (EPA) Administrator Michael Regan joined Governor Cooper, Senator Tillis, Congressman Edwards and local officials to assess federal and state recovery efforts in response to Hurricane Helene. EPA and its state partners have made significant progress bringing drinking water and wastewater systems back online, including restoring service to more than 75 drinking water systems that serve approximately 260,000 people in the Asheville area. EPA is also providing technical assistance and drinking water testing to systems and private drinking water well owners across the Asheville area through their Mobile Drinking Water lab – giving residents clear data and confidence that their water is safe to drink. The lab is capable of testing 100 samples per day. Water utilities and private well owners must request sampling services through their local health departments. EPA will remain on the ground in North Carolina helping area residents as long as their assistance is needed.  

    The Department of Energy’s Energy Response Organization remains activated to respond to storm impacts, and responders remain deployed to FEMA regional response coordination centers. Via the Electricity Sub-Sector Coordinating Council and Oil and Natural Gas Sub-Sector Coordinating Council, the Department of Energy has been coordinating continuously with energy sector partners on the ongoing Hurricane Helene response. As noted above, there are 10,000 line workers supporting power restoration efforts.

    The National Oceanic and Atmospheric Administration continues to support post-disaster imagery flights following Hurricane Helene, already totaling over 68 flight hours during 20 flights, including over western North Carolina. This imagery not only supports FEMA and the broader response community, but the public at large.

    Providing Financial Flexibilities to Homeowners and Taxpayers

    The U.S. Department of Housing and Urban Development (HUD) is providing a 90-day moratorium on foreclosures of mortgages insured by the Federal Housing Administration (FHA) as well as foreclosures of mortgages to Native American borrowers guaranteed under the Section 184 Indian Home Loan Guarantee program. Additionally, affected homeowners that have mortgages through Government-Sponsored Enterprises – including Fannie Mae and Freddie Mac – and the FHA are eligible to suspend their mortgage payments through a forbearance plan for up to 12 months.

    HUD announced $3 million for the State of North Carolina to support people experiencing homelessness in communities impacted by Hurricane Helene. Funding from the Rapid Unsheltered Survivor Housing program will help residents and families who are experiencing or at risk of homelessness and have needs that are not otherwise served or fully met by existing Federal disaster relief programs.

    This summer, HUD launched a new streamlined process for requesting additional flexibility on existing grants after a disaster is declared. Recipients of annual HUD funding – including in North Carolina – may request waivers to unlock and accelerate the use of their funding for disaster response and recovery. With the updated waiver process, HUD is proactively issuing maximum flexibility to communities impacted by disasters. These flexibilities will expedite the recovery process, reduce administrative burden, and allow impacted jurisdictions to quickly tailor programs and activities to address the post disaster needs of their communities. The Disaster Assistance and Recovery Team within HUD’s Office of Housing Counseling continues to conduct focused meetings with housing counseling agencies in each state impacted by these disasters to discuss their unique response and recovery challenges and identify resources available to assist.

    The Internal Revenue Service announced disaster tax relief for all individuals and businesses affected by Hurricane Helene in North Carolina. North Carolina taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

    Protecting Public Health

    The U.S. Department of Health and Human Services (HHS) declared a Public Health Emergency for North Carolina to address the health impacts of Hurricane Helene. HHS’s Administration for Strategic Preparedness and Response (ASPR) continues to provide medical support for Hurricane Helene, predominantly onsite in North Carolina. These ASPR personnel are deployed to support Hurricane Helene response operations, which include four Disaster Medical Assistance Teams and personnel from a Disaster Mortuary Operational Response Team (DMORT) in North Carolina. ASPR Health and Medical Task Forces and ASPR Disaster Medical Assistance Teams from the National Disaster Medical System are providing 24-hour surge support to three hospitals: Mission Hospital in Asheville, Blue Ridge Regional Hospital in Spruce Pine, and Caldwell Memorial in Lenoir. To date, ASPR teams have seen nearly 1000 patients. ASPR will continue to work with federal, state, and local partners to prioritize medical assistance to other areas affected by Hurricane Helene as required and requested.  

    Supporting Workers and Worker Safety

    Working alongside the Department of Labor, the States of North Carolina has announced that eligible workers can receive federal Disaster Unemployment Assistance to compensate for income lost directly resulting from Hurricane Helene. And, through the Department of Labor’s innovative partnership with the U.S. Postal Service, displaced workers in North Carolina can now go to the post office in any other state and verify their ID for purposes of getting their benefits quickly.

    Supporting Farmers and Agriculture

    The U.S. Department of Agriculture (USDA) has put contingency plans and program flexibilities into place to ensure farmers, foresters and communities are able to get the support they need, such as by extending program signup opportunities, expediting crop insurance payments, and using waivers and emergency procedures to expedite recovery efforts on working lands. USDA’s Food and Nutrition Service has issued flexibilities and waivers for North Carolina to ensure that food and nutritional assistance reaches those in need as soon as possible. In North Carolina, waivers have been issued to increase access to WIC products, replace benefits through Summer EBT, allow the purchase of hot foods through SNAP, and more.

    Additionally, USDA is currently coordinating over 200 staff on the ground in North Carolina, including saw support teams and emergency road clearance teams, to help clear trees and debris, including in Waterville, Marion, Newton, and Weaverville.

    Supporting Students and Student Loan Borrowers

    The Department of Education has offered technical assistance to states and local educational agencies to support recovery efforts and shared critical resources, including those developed by other federal agencies and organizations, to support restoring the teaching and learning environment.

    The Department’s office of Federal Student Aid (FSA) has flexibilities that are automatically available to affected institutions of higher education to help their continued management of the federal student aid programs. These flexibilities help schools if they need to adjust their academic calendars, such as due to unexpected closures, and also help students who may need to take a leave of absence. The flexibilities also help students avoid reductions in their federal aid due to any state or federal disaster assistance provided. FSA will also work with affected institutions that need help on other areas, such as paying credit balances. FSA has communicated with schools located in the areas impacted by Hurricane Helene. Those communications included existing Department guidance about how natural disasters impact schools and their administration of financial aid, resources, and links to FEMA disaster aid information. FSA’s communications also included a way for schools to share more information about the disaster impact on their campus and submit questions about administrative relief and flexibilities.

    The Department is ensuring affected borrowers in areas impacted by the hurricanes can focus on their critical needs without needing to worry about missing their student loan payments. Direct Loan borrowers and federally-serviced FFEL borrowers in the affected area who miss their payments will be automatically placed into a natural disaster forbearance. During forbearance, payments are temporarily postponed or reduced, and interest is still charged. Thanks to regulations issued by the Biden-Harris Administration, months in this forbearance will count toward PSLF and IDR forgiveness. Direct Loan and federally serviced FEEL borrowers are not required to take an action but have the option to call their servicer if they wish to enroll in the forbearance proactively. Perkins loan borrowers should contact their loan holder to request natural disaster forbearance. 

    Continuing to Survey Data

    The Department of the Interior’s U.S. Geological Survey (USGS) continues working to measure river levels and flow, and repair streamgages that transmit critical data. USGS crews continue working to determine the extent of flooding by surveying for high-water marks. These flood-peak data and high-water marks are used to determine flood frequency and are critical in the design of infrastructure and in determining flood plain boundaries. USGS stood up a landslide response team that now includes 32 USGS scientists, 19 of which ware mapping landslides, to provide technical assistance to the North Carolina Geological Survey and Tennessee Geological Survey. Their work includes reconnaissance using satellite imagery, flights, and on-the-ground assessments to map landslides.

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    MIL OSI USA News –

  • MIL-OSI USA News: Statement from President  Biden Congratulating Nobel Peace Prize  Winners

    Source: The White House

    This year’s Nobel Peace Prize winners embody determination and resilience in the face of tragedy. For decades, the members of Nihon Hidankyo have served as a human testament to the catastrophic human toll of nuclear weapons, telling a story that humanity needs to hear. On behalf of the United States, I congratulate them on being awarded the Nobel Peace Prize for their historic work to ensure that nuclear weapons are never used again. We also congratulate Japan for this recognition of the moral clarity and steadfast commitment of its people and government to prevent the spread and use of nuclear weapons. 

    As I was powerfully reminded last year when I visited Hiroshima and met with a survivor of the bombing, we must continue making progress toward the day when we can finally and forever rid the world of nuclear weapons. The United States stands ready to engage in talks with Russia, China, and North Korea without preconditions to reduce the nuclear threat. There is no benefit to our nations or the world to forestall progress on reducing nuclear arsenals. Reducing the nuclear threat is important not despite the dangers of today’s world but precisely because of them. These nuclear risks erode the norms and agreements we have worked collectively to put in place and run counter to the vital work of today’s Nobel Laureates.  

    Yesterday’s announcement by the Nobel Peace Prize Committee reminds us that we must continue our progress toward a world free from the threat of nuclear weapons. Let us all take inspiration from this year’s Nobel Peace Prize winners and recommit ourselves to the vital work of building a safer world. 

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    MIL OSI USA News –

  • MIL-OSI USA News: FACT SHEET: U.S. Achievements in the Global Fight Against  Corruption

    Source: The White House

    Corruption poses a grave and enduring threat to U.S. national interests and those of our partners. When officials abuse their entrusted power for personal or political gain, the interests of authoritarians and corrupt actors win – at the expense of citizens, honest businesses, and healthy societies. As the Biden-Harris Administration took office, this longstanding challenge had metastasized. In some countries, oligarchs were teaming up with foreign kleptocrats to warp policy and procurement decisions in exchange for kickbacks – with no accountability. Corrupt officials were laundering stolen assets through the U.S. and global financial systems, while local investigators were ill-equipped to follow the money. Reformers in countries saddled with corruption had scarce public resources to actually address development needs. The Biden-Harris Administration tacked these challenges starting Day One, to ensure democracy delivers and corrupt actors are held to account.

    The first National Security Study Memorandum of the Biden-Harris Administration established countering corruption as a “core U.S. national security interest,” leading to the issuance in December 2021 of the first United States Strategy on Countering Corruption. Since then, the United States has taken action at home and around the world to curb illicit finance, hold corrupt actors accountable, forge multilateral partnerships, and equip frontline leaders to take on transnational corruption. The result has been historic progress in protecting the U.S. financial system from money-laundering, including in the residential real estate sector, while enhancing corporate transparency. This Administration has mobilized record levels of foreign assistance dedicated to anti-corruption, including $339 million in Fiscal Year 2023 alone – almost double the yearly average during the previous four years. This new assistance has unlocked support for anti-corruption institutions, leveled the playing field for law-abiding businesses, enabled journalists to team up across borders, and more. Expanded law enforcement cooperation and capacity-building have generated convictions of corrupt actors as well as the seizure, forfeiture, and return of criminal proceeds, while new anti-corruption offices at the Department of State (State) and the U.S. Agency for International Development (USAID) energized diplomatic and stakeholder engagement. The United States imposed sanctions on more than 500 individuals and entities for corruption and related activities, and established – for the first time in any jurisdiction globally – a new visa restriction for those who enable corrupt activity.

    U.S. progress on anti-corruption has produced concrete benefits for the American people and stakeholders around the world – enhancing prosperity, economic security, safety, and democracy, as outlined below. To bolster and sustain this work, the U.S. government has also modernized its approach to addressing corruption as a cross-cutting priority. Today, Deputy National Security Advisor for International Economics Daleep Singh will highlight the benefits of this work to American businesses and workers at a White House anti-corruption roundtable with leaders from 15 major U.S. companies.

    Advancing economic opportunity abroad

    • Improving the business enabling environment: U.S. assistance advanced governments’ capacity to prevent, detect, investigate, and prosecute corruption, while encouraging anti-bribery compliance. State expanded its Fiscal Transparency Innovation Fund – to help willing partners improve budget transparency – while holding countries to account for progress in its Fiscal Transparency Report. In the past two years alone, a newly expanded State-Federal Bureau of Investigations (FBI) program facilitated U.S. collaboration with foreign counterparts on more than 50 transnational corruption and money laundering cases with a U.S. nexus. In coordination with State, experienced legal advisors from the U.S. Department of Justice (DOJ) assisted foreign justice partners around the world in investigating and prosecuting corruption and money laundering cases, and recovering assets. And DOJ’s Kleptocracy Asset Recovery Initiative, in partnership with the FBI and the Department of Homeland Security, has recovered more than $1.7 billion and returned or assisted in returning more than $1.6 billion for the benefit of the people harmed by the corruption.
    • Enforcing our bans on foreign bribery and money-laundering – and pressing other countries to do the same: To enable honest companies to compete overseas, the United States upheld its commitments under the OECD Anti-Bribery Convention by enforcing its foreign bribery and related laws and working with partners to monitor other countries’ progress in implementing the Convention, which celebrated its 25th anniversary in 2024. Since the start of the Administration, DOJ has imposed more than $3.5 billion in total monetary sanctions under the Foreign Corruption Practices Act (FCPA) in 16 corporate resolutions, and announced charges against more than 70 individuals. For instance, this April the former Comptroller General of Ecuador was convicted of money laundering relating to his receipt of over $10 million in bribes from, among others, the Brazil-based construction conglomerate Odebrecht S.A. The Securities and Exchange Commission continued civil enforcement of the FCPA, with approximately $1 billion in total monetary sanctions in 22 corporate resolutions, spanning conduct in 24 countries, since the start of the Administration. DOJ is also enforcing the recently enacted Foreign Extortion Prevention Act, which criminalizes demands for bribes by foreign officials from U.S. companies and others. In addition, this August DOJ announced a new Corporate Whistleblower Awards Pilot Program to uncover and prosecute corporate crime – with a particular focus on foreign and domestic corruption, as well as violations by financial institutions of their obligations to take steps to detect and deter money laundering.
    • Seizing windows of opportunity: U.S. assistance has become more agile via the establishment of USAID’s Anti-Corruption Response Fund (providing flexible support to countries experiencing new opportunities or backsliding), the State-DOJ Global Anti-Corruption Rapid Response Fund (providing assistance and case mentoring to foreign partners on short notice), and USAID’s Democracy Delivers initiative (which has marshalled $500 million in funding from the United States and others to help reformers deliver, including on their anti-corruption commitments). These innovations, informed by USAID’s Dekleptification Guide, are enabling the U.S. government to more nimbly pivot toward environments where local momentum can be bolstered by outside assistance.
    • Bolstering integrity in high-risk sectors: In April 2024, the United States and its partners launched the Blue Dot Network – a mechanism to certify infrastructure projects that have met global standards for quality and sustainability, including transparency in procurement and provisions to limit opportunities for corruption. The United States also supported the launch of PROTECT, a collective action project to address corruption risk in the supply chain for critical minerals.
    • Strengthening corruption safeguards in the Indo-Pacific: In June, the United States and thirteen other partners held a signing ceremony, after concluding eight rounds of negotiations in record time, for the Indo-Pacific Economic Framework for Prosperity (IPEF) Fair Economy Agreement. The Agreement aims to create a more transparent, predictable trade and investment environment across IPEF partners’ markets, including through binding obligations to prevent and combat corruption. The Department of Commerce (Commerce) and State are accelerating implementation by offering new anti-corruption technical assistance to IPEF partners, including workshops on procurement corruption.
    • Dialoguing with the private sector: In 2021, State launched the Galvanizing the Private Sector as Partners in Combatting Corruption initiative, which connects companies and governments to strengthen business integrity and encourage governance reform. Commerce’s International Trade Administration organized the 2024 forum of the Business Ethics for Asia-Pacific Economic Cooperation (APEC) Small and Medium Enterprises Initiative – the world’s largest public-private partnership on ethical business conduct – at which stakeholders formalized policy recommendations on business integrity in public procurement.

    Protecting the U.S. financial system from abuse

    • Expanding corporate transparency: To deter kleptocrats and criminals from laundering money through anonymous shell companies, the Department of the Treasury (Treasury) operationalized a new filing system for certain companies operating in the United States to report their beneficial owners – the real people who own or control them – pursuant to the bipartisan Corporate Transparency Act. Treasury held hundreds of outreach events across all states and territories, reaching thousands of stakeholders, to enable companies to quickly and easily comply with this reporting requirement.
    • Closing loopholes for money-laundering: Treasury finalized rules to close two major loopholes in the U.S. financial system: (1) to increase transparency in the U.S. residential real estate sector, to ensure that law-abiding homebuyers are not disadvantaged by individuals laundering their ill-gotten gains, and (2) to safeguard the investment adviser industry from illicit finance. Treasury also proposed a rule to modernize financial institutions’ anti-money-laundering/countering the financing of terrorism (AML/CFT) programs, to make them more effective and risk-based. Together, these rulemakings represent historic advances for the U.S. AML/CFT regime, in line with international standards, that will help the United States urge other countries to undertake similar reforms to curb illicit finance. The Biden-Harris Administration has also called on Congress to close even more loopholes that facilitate money-laundering by passing the ENABLERS Act.
    • Blocking assets and denying entry to corrupt actors: Since the start of the Administration, Treasury has designated more than 500 individuals and entities for corruption and related activities, across six continents. That includes blocking the assets of 20 individuals and 48 companies in Fiscal Year 2024 for corruption in Afghanistan, Guatemala, Guyana, Paraguay, Western Balkans, and Zimbabwe. In tandem, State publicly issued corruption-related visa restrictions for 76 foreign officials and family members in Fiscal Year 2024, and 292 over the course of the Administration. These actions have protected the U.S. financial system from corrupt actors and promoted accountability in domestic jurisdictions. For example, just one week after the U.S. issuance of a public visa restriction on former Director of Bosnia-Herzegovina (BiH) Intelligence Services Osman Mehmedagic for significant corruption, he was arrested by BiH authorities for abuse of office.
    • Taking aim at enablers of corruption: In December 2023, President Biden issued an historic Presidential Proclamation establishing a visa restriction for those who facilitate and enable significant corruption and their immediate family members. This new visa restriction complements existing commitments to use sanction and law enforcement capabilities to target private enablers of public corruption. Earlier this year, the FBI and DOJ secured a guilty plea and a criminal penalty of $661 million from Gunvor – one of the largest commodities trading firms in the world – for facilitating bribery of Ecuadorian officials and laundering those bribes through U.S. banks. In addition, USAID launched new activities to incentivize integrity within professions that serve as gatekeepers to the international financial system.
    • Upholding international standards: The United States has helped lead efforts to expand anti-corruption work at the Financial Action Task Force (FATF), including improving assessment tools, mitigating risks associated with “golden passport” programs, and highlighting how non-financial sectors can be abused by corrupt actors.

    Keeping America and our partners safe

    • Addressing corruption risk in the security sector: Security sector corruption can divert essential supplies, empower malign actors, threaten the safety of U.S. service members, and undermine U.S. military missions writ large. In the past year, the Department of Defense (DOD) incorporated corruption risk into its security cooperation planning – subjecting certain proposals to further scrutiny and identifying risk mitigation measures as needed. State also created new resources to weigh corruption risk as part of security sector assistance decision-making. In addition, State’s Global Defense Reform Program and DOD’s institutional capacity building programs advanced more transparent, accountable, and professional defense institutions. DOD continued running a training course on combatting corruption for partner military commanders and civilian leaders.
    • Tackling organized crime and corruption: Transnational criminal organizations often rely on corruption to enable their criminal activities and evade accountability – which fuels narcotrafficking into the United States, human smuggling, cybercrimes, and more. The U.S. government is deploying anti-corruption tools to target criminal networks and their financial enablers, in line with the 2023 White House Strategy to Combat Transnational Organized Crime.
    • Standing up to Russia’s aggression: The United States has adapted to address the wartime needs of Ukraine’s anti-corruption stakeholders, as they close off a key vector for Russian dominance and advance Ukraine’s democratic future. In 2023, Ukrainian anti-corruption investigators and prosecutors achieved an 80 percent increase in prosecutions and a 50 percent increase in convictions, plus opened cases against high-ranking officials including the former head of the Ukrainian Supreme Court.  With U.S. support, Ukraine has advanced significant reforms on asset disclosure, launched a whistleblower portal, strengthened the National Anti-Corruption Bureau, and enhanced transparency and integrity in reconstruction.
    • Securing a greener future: The United States has integrated an anti-corruption lens across sectors, with particular emphasis on addressing corruption vulnerabilities that threaten a secure, just energy transition for all. This includes USAID support to the Extractive Industries Transparency Initiative (EITI), increased mining transparency in the Democratic Republic of Congo and Zambia, and innovations that address transnational corruption in green energy mineral supply chains across 15 countries.
    • Protecting global health: Corruption curtails the ability of states to respond to pandemics and undercuts access to basic healthcare. USAID is tackling this challenge by releasing cutting-edge guidance on anti-corruption in the health sector and launching integrated programming. For example, in Liberia the United States is working with the government to curb theft of pharmaceuticals through civil society monitoring, law enforcement trainings, and public awareness campaigns.
    • Addressing the root causes of migration: Combating corruption is a core component of improving conditions in El Salvador, Guatemala, and Honduras – so people do not feel compelled to leave their homes, in line with the U.S. Strategy for Addressing the Root Causes of Migration in Central America. Recent U.S. actions have included training up to 27,000 justice sector stakeholders in those countries to more effectively address corruption.

    Defending democracy by rooting out corruption

    • Tackling electoral corruption: When candidates can be bankrolled by foreign adversaries and institutions captured by kleptocrats, citizens lose faith in their governments—or even in democracy itself. In response, USAID has launched new programs to bolster electoral integrity, strengthen independent media, and increase the transparency of political finance in high-risk locations.
    • Lifting up civil society and independent media: The U.S. government has substantially expanded support to frontline activists and journalists, including through the Global Anti-Corruption Consortium. In addition, a new State Department initiative is training hundreds of journalists in transnational corruption investigations, while USAID’s new investigative journalist networks in Asia and Southern Africa are building capacity to track corruption across sectors and across borders. The Secretary of State established a new award for Anti-Corruption Champions, which has honored dozens of courageous civil society leaders and embattled reformers. In 2022, the United States also hosted the largest regular gathering of civil society activists fighting corruption – the International Anti-Corruption Conference – in Washington, DC, with keynote remarks from APNSA Jake Sullivan.
    • Protecting sovereignty: Authoritarian actors like Russia and the PRC use bribery to interfere in the policy, procurement, debt, and electoral processes of other countries – undermining both sovereignty and democracy. The United States is standing up to this tactic by building the resilience of frontline actors to detect and deflect foreign-backed strategic corruption, educating partners about the kleptocrats’ playbook, harnessing sanction tools to deter threats, and increasing collaboration between practitioners working on anti-corruption and those addressing foreign malign influence – both within the USG and with likeminded partners. For example, in June the United States joined with Canada and the UK to expose Russia’s use of corruption and covert financing, among other tactics, to undermine democratic processes in Moldova.
    • Restoring trust in American democracy: The Biden-Harris Administration has established the strongest ethics standards of any U.S. presidency. On his first day in office, the President signed an Executive Order requiring administration officials to take a stringent ethics pledge, which extends lobbying bans, limits shadow lobbying, and makes ethics waivers more transparent. The Administration also restored longstanding democratic norms by protecting DOJ cases from political interference, releasing the President’s and Vice-President’s taxes, and voluntarily disclosing White House visitor logs. And in the last year, the Office of Government Ethics finalized rules updating the standards for ethical conduct and legal expense funds for executive branch employees.
    • Protecting American democracy from malign finance: Just as we defend democracy around the world, the U.S. government is working to keep American democracy safe from foreign adversaries. Actions to curb money laundering in the United States can help reduce the ability of foreign and domestic actors to make illegal campaign contributions and evade U.S. election laws. President Biden has called on Congress to go even further by passing the DISCLOSE Act, which would curb the ability of foreign entities and special interests to use dark money loopholes to influence our elections.
    • Revitalizing participation in the Open Government Partnership (OGP): The United States rejoined the Steering Committee of OGP – a platform for civil society and governments to forge joint commitments and learn from each other– and provided assistance for OGP’s work on anti-corruption. Domestically, the United States has turbocharged OGP implementation by creating the U.S. Open Government Secretariat at the General Services Administration, an Open Government Federal Advisory Committee, an Interagency Community of Practice – spanning federal, state, local, tribal, and territorial governments, and engaged with hundreds of stakeholders to exchange lessons and expand transparency, accountability, and public participation. The United States also launched the first-ever Request for Information to feed into the 6th U.S. OGP National Action Plan and announced development of a toolkit to help federal agencies more meaningfully engage with the public.

    Modernizing and coordinating U.S. government efforts to fight corruption

    • Institutionalizing anti-corruption as an enduring priority: Over the past four years, Departments and Agencies have made substantial organizational improvements to elevate corruption concerns. For example:
      • The State Department’s new Office of the Coordinator on Global Anti-Corruption leads the integration of anti-corruption priorities into bilateral and other policy processes, conducts targeted diplomatic engagements, and drives strategic planning, including through the Department’s senior-level Anti-Corruption Policy Board. In the past year, the Office jumpstarted implementation of the Combating Global Corruption Act and completed an analysis of anti-corruption assistance to inform future State Department decision-making.
      • USAID’s new Anti-Corruption Center, within the newly established Bureau for Democracy, Human Rights, and Governance, serves as a hub of technical expertise and thought leadership – driving the integration of corruption considerations across USAID’s portfolio, supporting USAID Missions in developing localized approaches, managing a suite of programming focused on transnational corruption, and using its convening power and policy insights to forge strategic partnerships. Since 2022, USAID has released its first-ever Anti-Corruption Policy, which outlines a cross-sectoral approach to constraining opportunities for corruption, raising the costs of corruption, and incentivizing integrity – plus a host of tools to drive uptake across USAID.
      • FBI’s International Corruption Unit expanded an agreement with the State Department to deploy six regional anti-corruption advisors to strategic locations around the world, where they organize regional working groups with local law enforcement officials, provide case-base mentorship, and facilitate coordination with the International Anti-Corruption Coordination Centre.

    Expanded interagency capacity has been complemented by the National Security Council’s establishment of a dedicated Director for Anti-Corruption position, for the first time, to ensure whole-of-government coordination and advance anti-corruption within key policy processes.

    • Leading in multilateral fora: The United States has regained its leadership role in the international bodies that shape anti-corruption norms globally and can sustain momentum across time. In particular, the United States stepped into the presidency of the UN Convention against Corruption Conference of States Parties (UNCAC COSP), proudly hosting in December 2023 thousands of stakeholders in Atlanta, Georgia, led by the U.S. Representative to the United Nations Linda Thomas-Greenfield. As part of its commitment to championing the role of non-governmental actors in the fight against corruption, the United States facilitated record civil society participation in UNCAC working group meetings, hosted the first UNCAC Private Sector Forum, and supported inclusive implementation of UNCAC commitments in Latin America, East Africa, and Southeast Asia. The United States also participated in several peer reviews of our own anti-corruption practices over the last three years, and proudly made these results public. Alongside these multilateral fora, we convened the Global Forum on Asset Recovery action series to accelerate practitioner cooperation across the United States, Algeria, Honduras, Iraq, Moldova, Nigeria, Seychelles, Ukraine, the United Kingdom, and Zambia.
    • Understanding corruption dynamics: The Intelligence Community developed and disseminated new resources to bolster intelligence prioritization, collection and analysis on corrupt actors and their networks. USAID commissioned research on topics like countering corruption through social and behavioral change and State initiated an interagency anti-corruption learning agenda and a small grants program to support it.
    • Deepening external partnerships: The United States convened a series of coordination meetings with other bilateral donors and philanthropies in order to harmonize our anti-corruption approaches and galvanized anti-corruption resources across the donor community through the Integrity for Development campaign. USAID’s Countering Transnational Corruption Grand Challenge for Development brought together technologists, businesses, activists, and others to collaboratively address concrete corruption challenges.

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    MIL OSI USA News –

  • MIL-OSI USA News: A Proclamation on Minority Enterprise Development Week,  2024

    Source: The White House

    Our Nation’s minority-owned businesses are the glue of our communities and the engines of our economies.  Investing in them is key to growing our economy from the middle out and bottom up, not the top down.  When minority-owned businesses do well, everyone does well.  More people get jobs, first-time business owners build generational wealth, our economy grows, and more Americans feel a sense of pride and hope in all that is possible in our Nation.  This Minority Enterprise Development Week, may we celebrate the talent and ingenuity of the innovators and entrepreneurs who run our Nation’s minority-owned businesses.  And may we recommit to ensuring that minority-owned businesses have access to the resources they need to thrive.

    Minority-owned businesses add incredible value to our economy, generating nearly $2 trillion in revenue each year.  These businesses not only provide the goods and services we need but are also sources of hope — helping people realize their American Dream, building generational wealth, and uplifting their families and communities.  That is why my Administration is ensuring that minority-owned businesses have access to capital and can grow.  The Small Business Administration (SBA) is lending tens of billions of dollars to small businesses that would otherwise struggle to access capital.  For example, since 2020, the rate of SBA-backed loans increased by about 40 percent for Asian American-owned businesses, tripled for Black-owned businesses, and more than doubled for Latino-owned businesses.  Further, my American Rescue Plan helped minority-owned small businesses keep their doors open during the COVID-19 pandemic and represents the largest-ever dedicated Federal investment to connect minority-owned small businesses to support.  That law invested $10 billion to launch and expand programs that provide critical access to capital for small businesses.  The American Rescue Plan also invested $500 million to fund over 100 awards for organizations working to connect entrepreneurs to resources to help their small businesses recover and thrive through initiatives like the SBA’s Community Navigators Program, the Department of the Treasury’s Small Business Opportunity Program, and the Minority Business Development Agency’s Capital Readiness Program. 

    My Administration has also been working to ensure that minority-owned businesses get a fair shot at success.  That is why I signed an Executive Order that would increase the share of total Federal contracts going to disadvantaged businesses from 10 percent to 15 percent by 2025 — and in the last 3 years, we have spent over $208 billion on small disadvantaged businesses.  My Bipartisan Infrastructure Law expanded and made permanent the Minority Business Development Agency, ensuring that minority-owned businesses have access to the resources and support they need to thrive.  And with my Inflation Reduction Act and CHIPS and Science Act, we are working to make sure that minority-owned businesses are benefiting from the billions of dollars we are investing in America’s infrastructure, manufacturing, and clean energy industries here at home.  In addition, Vice President Harris launched the Economic Opportunity Coalition in 2022 to provide tens of billions of dollars in investments to underserved communities. 

    Since Vice President Harris and I entered office, our Administration has created 16 million jobs, and American entrepreneurs have filed nearly 20 million new business applications.  Wages are growing faster than prices.  Unemployment remains low.  Black- and Latino-owned businesses are being created faster today than they have been in years and Federal contracts with Native American-owned companies increased by over $8 billion from 2020 to 2023. I also take pride in my Administration’s investments in Historically Black Colleges and Universities, Hispanic-Serving Institutions, Tribal Colleges and Universities, and Asian American and Native American Pacific Islander-Serving Institutions — all of which are helping launch the next generation of innovators, entrepreneurs, and business owners.  These investments will ensure that their graduates will have every opportunity to lead the industries of the future and build generational wealth.

    Across America — from small towns to big cities — we are seeing thousands of stories of revival, renewal, optimism, and pride.  And each new business that is created is an act of hope, not just for the business owner but for the entire community.  During Minority Enterprise Development Week, may we celebrate all the minority-owned businesses making our economy stronger, our Nation more competitive, and our communities more hopeful.  And may we recommit to supporting their success and longevity.

    NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim October 20 through October 26, 2024, as Minority Enterprise Development Week.  I call upon the people of the United States to acknowledge and celebrate the achievements and contributions of minority business owners and enterprises and commit to promoting systemic economic equality.

         IN WITNESS WHEREOF, I have hereunto set my hand this eighteenth day of October, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-ninth.

                                  JOSEPH R. BIDEN JR.

    MIL OSI USA News –

  • MIL-OSI China: Wang Yi holds phone talk with Japanese national security official

    Source: China State Council Information Office

    Wang Yi, director of the Office of the Foreign Affairs Commission of the Communist Party of China (CPC) Central Committee, held a phone call on Monday with Takeo Akiba, secretary general of Japan’s National Security Secretariat and the Japanese lead person of the China-Japan high-level political dialogue.

    Wang, also a member of the Political Bureau of the CPC Central Committee, said since its formation, the Shigeru Ishiba’s government has confirmed that the government will comprehensively promote the strategic and mutually beneficial relationship between China and Japan, has no intention of decoupling or severing industrial and supply chains with China, and adhere to the bilateral consensus on the discharge of nuclear-contaminated water from the Fukushima Nuclear Power Plant into the ocean.

    The Japanese government also confirmed its willingness to carry out high-level exchanges as well as dialogue and cooperation in various fields with China, Wang said, noting the China-Japan relations have achieved a steady start.

    He stressed that China maintains continuity and stability in its policy toward Japan and is willing to continue to promote the sound and stable development of China-Japan relations in accordance with the principles and directions set out in the four political documents between China and Japan.

    Wang expressed hope that Japan will respect China’s core interests, adhere to the one-China principle, work with China in the same direction, uphold the political consensus that China and Japan are cooperative partners and not threats to each other, support each other’s peaceful development, maintain and consolidate the political foundation of bilateral relations, inject new vitality into bilateral cooperation in various fields, and jointly contribute to regional peace and stability.

    It is hoped that the new Japanese cabinet would bring new momentum and foster fresh development in China-Japan relations, Wang said.

    For his part, Akiba said that Japan remains committed to promoting a strategic and mutually beneficial bilateral relationship in an all-round way and building a constructive and stable Japan-China relationship.

    Japan stands ready to work with China to focus on the broader picture of the development of bilateral relations, maintain the current momentum in the development of bilateral ties, engage in strategic and forward-looking dialogues, and send more positive signals to the world, he added.

    Both sides agreed to continue making use of the China-Japan high-level political dialogue mechanism and maintain regular communication.

    MIL OSI China News –

  • MIL-OSI China: Chinese VP attends inauguration of Indonesian president, visits Indonesia

    Source: China State Council Information Office

    Chinese Vice President Han Zheng meets with Indonesia’s new President Prabowo Subianto in Jakarta, Indonesia, Oct. 20, 2024. [Photo/Xinhua]

    At the invitation of the Indonesian government, Chinese Vice President Han Zheng, as President Xi Jinping’s special representative, attended the inauguration of Indonesia’s new President Prabowo Subianto on Sunday, visited Indonesia from Saturday to Monday, and met with President Prabowo, then President Joko Widodo and newly inaugurated Vice President Gibran Rakabuming Raka respectively.

    In the meeting with Prabowo, Han noted that President Prabowo’s visit to China right after his election victory demonstrated his deep affection and profound friendship toward China and his commitment to advancing China-Indonesia relations.

    Han pointed out that President Prabowo emphasized key priorities such as food security and poverty reduction in his inaugural address, aligning closely with the people-centered development approach proposed by President Xi.

    Han affirmed China’s support for President Prabowo and the new government, expressing confidence that Indonesia, under Prabowo’s leadership, will achieve further progress in national development.

    China is willing to work with Indonesia to follow the strategic guidance of the two heads of state, push the building of the China-Indonesia community with a shared future to a new level, and contribute to maintaining regional peace and stability while promoting world development and prosperity, Han said.

    Han also put forward three proposals for the next phase of China-Indonesia relations. First, to strengthen high-level strategic mutual trust and continue supporting each other on issues concerning each other’s core interests and major concerns. Second, to deepen comprehensive, mutually beneficial cooperation to benefit more people of the two countries. Third, to enhance international collaboration to promote the development of global governance in a more just and reasonable direction.

    Prabowo said that China, as a major country in the world, is a key partner for Indonesia. He said the new Indonesian government attaches great importance to developing relations with China and will continue Joko Widodo’s friendly policy toward China.

    Indonesia is willing to further deepen mutual support and mutually beneficial cooperation between the two sides, strengthen coordination on international and regional affairs, and promote greater development of bilateral relations, he said.

    Chinese Vice President Han Zheng meets with Indonesian President Joko Widodo in Jakarta, Indonesia, Oct. 19, 2024. [Photo/Xinhua]

    While meeting with Joko, Han pointed out that the past 10 years have witnessed high-level development of China-Indonesia relations, and the two heads of state have jointly led the upgrading of China-Indonesia relations into a new era of building a community with a shared future.

    Han said China is willing to work with Indonesia to carry forward the fine tradition of friendship and cooperation, deepen all-round strategic coordination, jointly promote high-quality Belt and Road cooperation, ensure smooth operation of major cooperation projects such as the Jakarta-Bandung high-speed railway, continuing to write a new chapter of solidarity, cooperation and mutual benefit.

    Joko said that in recent years, bilateral cooperation has achieved fruitful results.

    Noting the Jakarta-Bandung high-speed railway is a landmark cooperation project between the two countries and a symbol of their friendship, Joko said under the leadership of the new Indonesian government, bilateral relations will reach new levels.

    Chinese Vice President Han Zheng, also special envoy of Chinese President Xi Jinping, meets with Indonesia’s newly inaugurated Vice President Gibran Rakabuming Raka in Jakarta, Indonesia, Oct. 21, 2024. [Photo/Xinhua]

    In the meeting with Gibran, Han said that China and Indonesia are good neighbors and good partners, adding that cooperation between the two sides is highly complementary and mutually beneficial, bringing tangible benefits to the two peoples.

    China is willing to strengthen the synergy of development strategies of the two countries in light of the policy priorities of the new Indonesian government, and continue to deepen practical cooperation in various fields, ensuring mutual benefit in a better way, Han said.

    For his part, Gibran said that the new Indonesian government is willing to work with China to implement the important consensus reached by the two heads of state.

    He said that Indonesia will continue to consolidate the good momentum in developing bilateral relations, and unswervingly deepen bilateral cooperation to better benefit the two countries and peoples.

    MIL OSI China News –

  • MIL-OSI China: Greater BRICS spearheads Global South cooperation as leaders meet in Kazan

    Source: China State Council Information Office

    This photo shows a view of the Kazan Kremlin in Kazan, Russia, Oct. 20, 2024. [Photo/Xinhua]

    Chinese President Xi Jinping will attend the 16th BRICS Summit on Oct. 22-24 in the Russian city of Kazan at the invitation of Russian President Vladimir Putin.

    BRICS is an acronym for Brazil, Russia, India, China, and South Africa, five major emerging markets with considerable economic potential. It has now evolved into an influential international cooperation mechanism with an expanded membership.

    Over the past 18 years, China has upheld the BRICS spirit of openness, inclusiveness, and win-win cooperation and helped drive the BRICS cooperation mechanism to a new level, serving as a constructive force for safeguarding world peace, promoting common development, improving global governance and facilitating democratization of international relations.

    This year marks the beginning of greater BRICS cooperation. During the upcoming summit, the first such gathering to be held after the BRICS expansion, Xi and leaders of other BRICS countries are expected to draw a blueprint for the development of its mechanism, inject new impetus into a multipolar world, facilitate economic globalization and democratization of international relations, and open up a new chapter for the solidarity and development of the Global South.

    New starting point

    “BRICS is an important force in shaping the international landscape. We choose our development paths independently, jointly defend our right to development, and march in tandem toward modernization. This represents the direction of the advancement of human society, and will profoundly impact the development process of the world,” said Xi during the 15th BRICS Summit in August 2023.

    Other than the countries that officially joined the BRICS family on Jan. 1, 2024, over 30 countries like Thailand, Malaysia, Türkiye and Azerbaijan have either formally applied for or expressed interest in its membership.

    After the expansion, the BRICS countries account for about 30 percent of the global GDP, nearly half of the global population and one-fifth of global trade.

    China has been committed to deepening mutually beneficial cooperation with its BRICS partners. In the first quarter of this year, China’s imports and exports to BRICS countries increased by more than 11 percent year on year.

    Ahmed Al-Ali, a researcher based in Dubai, the United Arab Emirates (UAE), said that the BRICS has become an important engine to drive global economic recovery and maintain world peace and stability thanks to its steady economic growth, and equal and extensive cooperation opportunities.

    “Ethiopia’s BRICS membership could significantly boost the country’s socio-economic development through various economic opportunities, including increased investment, expanded South-South cooperation and trade partnerships,” said Balew Demissie, a researcher at the Policy Studies Institute of Ethiopia.

    China’s cooperation with other BRICS members has strongly defended multilateralism and promoted the democratization of international relations, said Evandro Carvalho, a Brazilian professor at the Getulio Vargas Foundation, an economic think tank.

    The appeal of the BRICS cooperation mechanism comes from its spirit of openness, inclusiveness, and win-win cooperation. “BRICS countries gather not in a closed club or an exclusive circle, but a big family of mutual support and a partnership for win-win cooperation,” Xi said during the 14th BRICS Summit in June 2022.

    From the “BRICS Plus” cooperation approach proposed in 2017 to the historic expansion of BRICS membership, the mechanism is widely welcomed, with growing influence and appeal.

    The BRICS cooperation mechanism respects the interests of all parties involved and is an “attractive platform for cooperation and mutual benefit,” said Elshad Mammadov, an Azerbaijani economics expert.

    The BRICS Media Summit is held in Moscow, Russia, Sept. 14, 2024. [Photo/Xinhua]

    Fruitful achievements

    At present, the mechanism is at a crucial stage of building on past achievements and ushering in a new era of cooperation. China is working with other BRICS partners, embarking on a new journey of greater BRICS cooperation.

    “We should navigate the trend of our times and stay in the forefront. We should always bear in mind our founding purpose of strengthening ourselves through unity, enhance cooperation across the board, and build a high-quality partnership. We should help reform global governance to make it more just and equitable, and bring to the world more certainty, stability and positive energy,” Xi has said.

    Applauding more participants and exploring new ways of cooperation within the mechanism, the BRICS countries will also have more opportunities and their roles in the global arena will continue to expand, said Ivan Melnikov, first vice-chairman of the Russian State Duma and chairman of the Russia-China Friendship Association.

    China and its BRICS partners have worked together to advance practical cooperation and deepen mutual benefit, setting up projects such as the China-BRICS Science and Innovation Incubation Park for the New Era and the China-BRICS AI Development and Cooperation Center, as well as hosting the BRICS Forum on Partnership on New Industrial Revolution and BRICS Industrial Innovation Contest.

    Set up by the BRICS and opened in 2015, the New Development Bank (NDB) aims to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries.

    Meanwhile, people-to-people and cultural exchanges among BRICS countries are in full swing with popular events such as film festivals, sports games, and co-productions of films and documentaries.

    The first special session for BRICS countries of the International Youth Poetry Festival kicked off in the Southeastern Chinese city of Hangzhou in July, attracting 72 poets from BRICS countries.

    In mid-September, over 60 media leaders from more than 40 countries joined the BRICS Media Summit in Moscow, discussing the role of BRICS media in promoting a multipolar world.

    People-to-people exchanges have deepened among BRICS countries, and BRICS member states have worked towards a closer friendship, providing a “BRICS model” for promoting exchanges and mutual learning among civilizations, said Ahmed Hamadi, a political commentator of the Aletihad News Center of the UAE.

    A model of E190-E2 aircraft is on display at the exhibition of BRICS New Industrial Revolution 2024 in Xiamen, southeast China’s Fujian Province, Sept. 10, 2024. [Photo/Xinhua]

    Bright future

    Thanks to the concerted efforts of all parties, the BRICS has increasingly become an important force in shaping the international landscape and safeguarding global stability.

    The BRICS cooperation mechanism is now a key venue for emerging markets and developing countries to strengthen solidarity and cooperation and safeguard common interests, thereby serving as the most pivotal mechanism representing the Global South.

    China is a significant promoter of BRICS cooperation and a natural member of the Global South. Beijing has all along stood with other developing countries through thick and thin. While pursuing its own development, China has continuously provided new opportunities for the rest of the world by sharing its development dividends.

    “China’s role in promoting the continuous development of BRICS is significant,” said Zukiswa Roboji, a researcher at Walter Sisulu University in South Africa.

    The BRICS mechanism effectively promotes solidarity and cooperation among countries of the Global South, and enhances the representation of developing countries in global governance, and China has made positive contributions to raising the global influence of BRICS cooperation, Roboji said.

    The genuine multilateralism advocated by China and its efforts in promoting the modernization of the Global South have brought confidence and important strength to the world, said Bunn Nagara, director and senior fellow at Belt and Road Initiative Caucus for Asia-Pacific.

    “Today, China is exactly what the countries of the Global South want to be,” said Dilma Rousseff, former Brazilian president and president of the NDB, adding that China’s advocacy of more just and effective global governance is helping the world build a bright shared future.

    MIL OSI China News –

  • MIL-OSI China: Documentary gives clout to Chinese filmmakers

    Source: China State Council Information Office 3

    Fang Li with Lisbon Maru survivor Dennis Morley during an interview. Morley, the last survivor in the U.K., died in 2021 at age 101. [Image courtesy of Laurel Films]

    Since early September, filmmaker Fang Li has traveled to many cities to host nearly 100 promotional events for one of his most challenging works, The Sinking of the Lisbon Maru.

    The documentary, which has consumed eight years and 80 million yuan ($11.2 million), chronicles his investigations into a titular incident during World War II — a Japanese ship that carried 1,816 British prisoners of war from Hong Kong to Japan in October 1942.

    Tragically, the cargo liner was torpedoed by the USS Grouper submarine. Japanese forces confined the POWs and abandoned them to their fate, even assigning a team of soldiers to shoot any prisoners attempting to escape after the main troops evacuated. Some of the POWs managed to escape, with 384 British prisoners rescued by over 200 Chinese fishermen in the sea near Dongji Island in Zhoushan, East China’s Zhejiang province. Most survivors were recaptured by Japanese troops the next day, but three were hidden by villagers.

    Fang and his team did their best to find core parties and descendants in the United Kingdom, United States, Japan and China, getting close to the truth about the tragic sinking.

    Narrated in a restrained and objective perspective with profound materials, the documentary has won high acclaim, obtaining 9.3 out of 10 points on the popular review aggregator Douban, making it the highest-rated documentary on the platform this year.

    Currently, the film, which debuted domestically on Sept 6, has grossed over 43 million yuan at the box office, far exceeding the producers’ original estimation.

    Its high acclaim and box-office success have drawn attention from industry insiders and critics, especially after it was selected as China’s submission in a bid for the Oscars’ Best International Feature Film category in late September.

    During a recent symposium held in Beijing, Xie Li, a Party committee member of the China Federation of Literary and Art Circles, listed the popularity of The Sinking of the Lisbon Maru as the latest example showcasing the rise of Chinese documentaries. Previous excellent works include Snow Leopards and Friends, Remembering 1950 and Like the Dyer’s Hand, added Xie.

    Xie expressed hope that Chinese filmmakers will produce more quality documentaries that can resonate with international audiences.

    Jiao Hongfen, chairman of the China Film Producers’ Association, said that The Sinking of the Lisbon Maru has brought pride to domestic filmmakers and will encourage more excellent documentaries to be screened in theaters.

    MIL OSI China News –

  • MIL-OSI China: Dance drama on overseas Chinese business pioneer premieres in capital

    Source: China State Council Information Office 3

    Half of the Sea, a Chinese dance drama, centering on the life story of Tan Kah Kee, a patriotic overseas Chinese business pioneer and philanthropist, premiered in Beijing on Sunday.

    The production uses dance as an artistic medium to showcase his spirit of perseverance, patriotism, and dedication to education, paying tribute to the patriotic overseas Chinese who remained devoted to his homeland despite adversity.

    Tan Kah Kee was born in Jimei village in Tong An district, Fujian province, on Oct 21, 1874. At age 16, he arrived in Singapore and joined his father in the family’s rice trading business as an apprentice and bookkeeper. Tan proved himself to be an exceptional worker, and by 1892, he was put in charge of Chop Soon Ann company after his uncle fell ill and retired. In 1893, Tan returned to his home village Jimei, and set about establishing a business of his own.

    The eminent entrepreneur donated money, and directed efforts to improve the lives of people in Chinese mainland through the turbulent wartime. In Singapore, he helped to establish five primary and secondary Chinese schools. In 1918, he established a normal school to train teachers in Fujian. When he founded Xiamen University in 1921, he ensured that the department of education had the best possible faculty. In Singapore, for a decade he campaigned for a Nanyang Chinese Normal School to train teachers for Chinese schools and it was established in 1941.

    His love for China is reflected in his own memoirs, Nanqiao Huiyilu, which has been described as undoubtedly one of the best documented autobiographies ever written by an overseas Chinese in Southeast Asia.

    On stage, the dancers’ fluid and dynamic movements, combined with artistic elements like harbors, fishing boats, and villages, create a vivid depiction of Minnan (southern Fujian) and Southeast Asian scenery. The stage incorporates 16 suspended panels that reflect ever-changing scenes — from the glow of the hometown sunset to minimalist paper-folded fishing boats and a 10-meter-long rotating conference table. The modern stage design creates an immersive viewing experience, transporting the audience to a historical period filled with dramatic changes.

    In terms of choreography, the dance drama seamlessly blends modern dance with traditional Minnan elements and the style of the early 20th century. It showcases the robust, rhythmic movements typical of Minnan dance while incorporating the fluidity and versatility of modern dance.

    Director Lin Chen explained that the title, Half of the Sea, represents both the physical separation of the overseas Chinese from their homeland and their deep emotional connection and strong sense of national identity.

    Following its Beijing debut, Half of the Sea will embark on a nationwide tour.

    MIL OSI China News –

  • MIL-OSI China: High-tech goods prove popular at Canton Fair

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

    A wide range of high-tech and high value-added products displayed at the first phase of the 136th China Import and Export Fair, also known as the Canton Fair, proved increasingly popular among overseas buyers, the event’s organizers said on Monday.

    The event’s first phase, which focused on China’s advanced manufacturing, concluded on Saturday in Guangzhou, the capital of Guangdong province, with digitalized, intelligent and green products emerging as major highlights of the exhibits.

    Among the 11,165 participating companies in the first phase, approximately 3,600 are related to digital technology and intelligent manufacturing, according to the organizers. Of these, 57.8 percent are enhancing their industrial chains through technology transformations involving big data, artificial intelligence and the industrial internet.

    Chinese exhibitors have showcased a plethora of new products, technologies, materials and processes, with 390,000 digital products on display, marking a 300 percent increase compared with the last session.

    High-end products including smart home appliances, new energy vehicles, industrial automation equipment, humanoid robots, intelligent bionic hands and hydrogen-powered bikes are increasingly popular, the organizers said.

    They also said the trend indicates that Chinese manufacturing is accelerating its pace toward the high end of the industrial and value chains, while the independent innovation capabilities of Chinese enterprises and the core competitiveness of Chinese products are continuing to strengthen.

    Xu Jiadong, sales manager of Skymen Technology Corp, said, “We have seen an increased number of buyers, especially those from emerging markets such as the Middle East and Southeast Asia, visiting our exhibition booth during the fair, showing interest in buying advanced ultrasonic cleaning products.”

    The Shenzhen, Guangdong province-based company’s overseas sales of ultrasonic cleaning products steadily increased in the first nine months of this year, reaching more than 60 million yuan ($8.4 million), Xu said.

    To meet the increased demand for advanced and intelligent ultrasonic cleaning products in overseas markets, the company launched operation of its manufacturing base in Shaoguan, Guangdong, in late 2023.

    More than 130,000 overseas buyers, an increase of 4.6 percent compared with the previous session, visited the fair’s first phase. Of these, 69.7 percent were from countries and regions involved in the Belt and Road Initiative, and around 20,000 buyers were from the Middle East, an increase of 44.2 percent compared with the previous session, according to the organizers.

    In addition, advanced products with high added value, such as industrial machines manufactured in China, have become increasingly popular in the overseas market, according to Yusuf Kandemir, CEO of Alshamela Group Trading Co.

    “The fair provides me with very valuable information, as we are looking for high-end industrial machinery suppliers from China,” said Kandemir, adding that such products are very much in demand, especially in the Middle East.

    The second phase of the fair will be held from Wednesday to Sunday, with 10,040 Chinese exhibitors showcasing household items, gifts and decorations, building materials and furniture.

    Spanning three phases, with both online and on-site exhibitions, the fair, which will run until Nov 4, aims to serve high-quality development and promote greater opening-up.

    MIL OSI China News –

  • MIL-OSI China: ​Tearjerker movie delivers ‘BIG’ healing power

    Source: China State Council Information Office 3

    “BIG,” a new motion picture from renowned filmmaker Wei Te-Sheng, premiered in Beijing on Oct. 16. With its heartrending storyline that moved the premiere’s audience to tears, the film expresses a message of cherishing every precious moment.

    Actor Cheng You-Fei and director Wei Te-Sheng pose for a photo at the premiere for “BIG” in Beijing, Oct. 16, 2024. [Photo courtesy of Alibaba Pictures]

    The film, set in a pediatric oncology ward, tells the tragic yet heartwarming story of six children who are battling cancer and how they, their families and hospital staff navigate their diagnoses and treatments while still finding ways to live life to the fullest. 

    Highlighting the children’s courage and faith in the face of mortality, “BIG” emphasizes the value of life and the message that “Being is Gift,” abbreviated as BIG, which, as the film’s title, resembles the ward’s number: 816.

    At the Beijing premiere, Wei poignantly reflected on his experiences while preparing for the film: “In the pediatric oncology ward, I did not see a single child who did not want to live.” He added, “I hope that through this film, I can impart some strength to everyone, enabling them to be stronger and more resilient when facing difficulties.”

    “BIG” is a film Wei wanted to make since a long time ago, addressing topics he has yearned to explore, including family dynamics, vitality, universal values and youth.

    “And I also want to stress that although these ill children may look weak and small, they have big and strong hearts. Their willingness to live on and fight is BIG! We hope we can call them warriors from now on when we meet these children, because they deserve our respect and pride,” Wei said at the premiere.

    On stage at the Beijing premiere, Wei was joined by Cheng You-Fei, one of the film’s young actors, to interact with the audience, who were deeply touched after the advanced screening. 

    Cheng revealed that she was initially reluctant to take on the role of Yuanyuan, one of the children battling cancer, because it required her to shave off her hair. “I’ve always cherished my hair,” she said. “But after listening to the director’s explanation on the plot, I was deeply moved. He told me that I was not just making a movie, but also doing something meaningful, helping those who cherish life to bravely face challenges.”

    Besides the use of live acting, the film also uses 2D animation when portraying the children’s head-on battle with cancer. Wei revealed that for creating the 2D animation scenes, he enlisted a notable team, including Takumi Tanji, art director for Makoto Shinkai’s “Your Name” and “Suzume,” and other international talents from Japan and Italy. Wei chose animation to depict the children’s battle with cancer because, despite the arduous process, he wanted to avoid a somber tone. Instead, he aimed to reflect the children’s perspectives, using clean, bright and warm animation to illustrate their optimistic and positive attitudes during treatment.

    A film poster for “BIG.” [Photo courtesy of Alibaba Pictures]

    Wei is a filmmaker known for creating some of the most profitable films of all time in Taiwan, such as “Cape No. 7,” the highest-grossing film on the island. 

    “BIG” has been released across the mainland since Oct. 19.

    MIL OSI China News –

  • MIL-OSI China: FTZ reforms deepen China-ASEAN economic, trade ties

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

    NANNING, Oct. 22 — In a bustling fruit processing facility in south China’s Guangxi Zhuang Autonomous Region, the air is sweet with the luscious aroma of mangoes. Workers diligently manage a state-of-the-art, fully automated production line, preparing to send delectable products to eager markets across Southeast Asia.

    In recent years, with the deepening of economic cooperation and the trade exchange of agricultural products between China and the Association of Southeast Asian Nations (ASEAN), the complementary advantages of agricultural products trade between Guangxi and ASEAN have become more prominent. The geographical advantages of land and sea links with ASEAN have also injected vitality into the continuous expansion of Guangxi’s fruit exports.

    According to data from Nanning Customs, in 2023, Guangxi imported 16.71 billion yuan (about 2.4 billion U.S. dollars) of ASEAN agricultural products, a year-on-year increase of 43.1 percent. At the same time, Guangxi’s special fruits, such as orah mandarins and sweet tangerines, have also been well received in the ASEAN market.

    The thriving fruit trade has also spurred related companies to invest and establish their operations in Guangxi.

    Guangxi Junyi Agricultural Science and Technology Co., Ltd, a mango-processing company established in 2020 in the Chongzuo area in the China (Guangxi) Pilot Free Trade Zone (FTZ), is the region’s first border-based fruit processing enterprise with an annual main business turnover of at least 20 million yuan.

    “The pilot FTZ’s policies, including tax incentives, streamlined trade procedures and financial innovations, have not only laid fertile ground for growth but also provided substantial cost benefits to businesses,” said Shen Wuyang, the company’s deputy general manager.

    Guangxi, often described as China’s gateway to ASEAN, has risen to the forefront of China’s trade and cooperation with ASEAN in recent years, thanks to the establishment of the pilot FTZ.

    In 2019, the pilot FTZ was established to promote China’s opening up to ASEAN and to pilot new mechanisms in China-ASEAN cooperation. Since its inception, the pilot FTZ has proven to be a powerhouse, taking up a 37.7 percent share of Guangxi’s total foreign investment and a notable 38.6 percent share of the region’s foreign trade volume.

    The pilot FTZ comprises the Nanning area in the region’s capital city, the Qinzhou Port area along the coast and the Chongzuo area bordering Vietnam.

    The Chongzuo area is home to Youyiguan Port, or Friendship Pass, one of China’s busiest land ports for the trade of fruit.

    Thanks to the development of economic and trade relations between China and ASEAN, Youyiguan Port’s cargo clearance efficiency has doubled.

    “Our cargo predominantly goes to Southeast Asia, with Vietnam taking up 80 percent of our shipments and the remainder being distributed to places like Malaysia and Thailand,” noted Wang Shuqing, operations supervisor of a supply chain management company in Guangxi.

    The zone’s Nanning area focuses on the development of modern finance, the digital economy and modern services. It is pioneering innovation in cross-border finance and renminbi businesses, especially those working with ASEAN nations.

    “Previously, cross-border transactions between Guangxi and Indonesian companies involved an intermediate step of converting RMB to U.S. dollars before changing it to Indonesian rupiah. Now, we can achieve direct settlements,” said Bai Lili, deputy general manager of a China CITIC Bank branch located in the Nanning area of the pilot FTZ.

    As the pilot FTZ’s only coastal area, Qinzhou Port Area is establishing itself as a high-level gateway port that facilitates the transportation of cargo between China and ASEAN.

    According to Ye Jun, an official with the administrative committee of Qinzhou Port Area, the industrial focus of the area is on petrochemical projects, with quite a number of petrochemical enterprises having already set foot in raw material and preliminary processing in ASEAN countries.

    So far, more than 38,000 new enterprises have been established in Qinzhou Port Area, including 355 foreign-funded companies. Among the over 150 industrial projects operational or under construction, the area has attracted investments exceeding 300 billion yuan and is home to four enterprises with annual outputs of over 10 billion yuan.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Auction for Fong Ma Po New Year Fair stalls at Lam Tsuen in Tai Po to be held on November 4

    Source: Hong Kong Government special administrative region

         â€‹The Food and Environmental Hygiene Department (FEHD) announced today (October 22) that stalls at the 2025 Fong Ma Po (FMP) New Year Fair at Lam Tsuen in Tai Po will be put up for open auction on November 4 (Monday).

         â€‹A spokesman for the FEHD said the annual FMP New Year Fair will be held for 15 consecutive days from January 29 to February 12, 2025. A total of 22 dry goods stalls and six wet goods stalls will be put up for auction, with upset prices of $780 and $770 respectively. ​

         The auction will be held at the Assembly Hall, 2/F, Lai Chi Kok Government Offices, 19 Lai Wan Road, Lai Chi Kok, Kowloon, on November 4 (Monday), from 2pm until completion of the auction.

         Bidders for FMP New Year Fair stalls must be at least 18 years old and ordinarily reside in Hong Kong. Anyone can bid for more than one stall. A bidder must pay the bid price and register in person with his or her own name as the licensee of the stall immediately after successfully bidding for a stall. The bidder is also required to sign at once a licence agreement with the FEHD, or he/she will forfeit the rights to operate the stall.

         â€‹The FMP New Year Fair site will be made available to the licensees three days in advance of the fair (January 26 to 28, 2025) for the setting up of stalls. In the event of any unforeseeable incident that will cause shortening of the whole licence period (including the duration for setting up stalls and the business period of the fair), the Government has the right to postpone the commencement date and shorten the duration of the period. The bidding price (licence fee) paid will be refunded to the successful bidder on a pro-rata basis without interest.

         The FEHD reminded licensees that the stalls are solely for the purpose of selling and promoting the sale of the permitted commodities, and no other activities are allowed in the licensed area. If the FEHD considers that any activity conducted by the licensee to publicise, promote, display, show, sell or gift any permitted commodities in the venue is unlawful, contrary to the interest of national security, immoral or incompatible with the object of the FMP New Year Fair, the FEHD is entitled to direct the licensee to stop conducting such activities, and the licensee must immediately comply with the direction.

         Stall licensees should not destroy, damage or abandon any unsold commodities at or in the vicinity of the stall. They must completely remove the stall structure and all paraphernalia, together with all refuse, debris and unsold commodities (whether damaged or otherwise) from the licensed area before 6pm on February 12, 2025.

         According to the licence agreement, except inside designated stalls, licensees shall not keep, store or use any compressed helium cylinders in the licenced area. Whereas licensees of the designated stalls may keep, store or use helium cylinders in the licenced area, the quantity of helium should be such that a licence is not required pursuant to the Dangerous Goods (Application and Exemption) Regulation 2012 (Cap. 295E), i.e. no more than 150 litres (water capacity) of compressed helium. Sales of floating LED glowing balloons and aquarium fish by stall licensees are prohibited at the FMP Fair.

         In addition, as stated in the licence agreement, the height of dry goods stalls must not exceed 3 metres from ground level. The height of wet goods stalls must not exceed 4.5m from ground level. For wet goods stalls with a height of more than 3m from ground level, the licensee must, at his own costs, provide the FEHD with the original certificate issued by an authorised person, a registered structural engineer, or a competent person under the Construction Sites (Safety) Regulations (Cap. 59I) to certify the structural safety of the structure in the licensed area before the Fair is opened to the public. The licensee must also affix a copy of the aforesaid certificate on the structure of the stall.

         â€‹Successful bidders shall comply with all the stipulations and provisions as set out in the licence agreement. Otherwise, the FEHD is entitled to terminate the agreement and the licensee shall immediately vacate the stall.

         â€‹Details of the 2025 FMP New Year Fair, such as the public notice, the location and layout of the fair venue, commodities allowed for sale at the fair stalls, open auction arrangements and related rules, as well as a sample of the licence agreement, are available on the FEHD website (www.fehd.gov.hk). For enquiries, please call the FEHD’s Tai Po District Environmental Hygiene Office at 3183 9162 or 2657 1137.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: FS speaks at APEC meeting

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan speaks on various topics while attending day two of the APEC Finance Ministers’ Meeting (FMM) in Peru yesterday.

     

    The topics included global and regional economic and financial outlooks, sustainable finance, sustainable infrastructure, digital finance, and enhancing resilience against climate change.

     

    This year’s APEC FMM takes the theme of “Sustainable + Digital + Resilient = APEC.”

     

    In the session on global and regional economic and financial outlooks, Mr Chan shared the latest economic situation in Hong Kong and reiterated the city’s firm support for rules-based free trade and multilateralism.

     

    He pointed out that as a super connector, Hong Kong plays a bridging role between traditional and emerging markets, promoting the regional digital economy and innovative technology for better collective development.

     

    During the discussion session on sustainable finance and infrastructure, Mr Chan highlighted Hong Kong’s functions as an international financial centre, facilitating the effective matching of funds with green and infrastructure projects.

     

    He noted that through financial innovation and co-operation with international institutions, Hong Kong has been able to securitise infrastructure loans from various countries and issue catastrophe bonds, guiding more international capital to support projects in developing countries and helping them address climate challenges.

     

    He also shared updates and experience on Hong Kong’s efforts in advancing green and transition finance, including the release of a green taxonomy aligned with international standards and active participation in setting global green standards.

     

    Additionally, the Financial Secretary participated in discussions on digital finance at the FMM, sharing Hong Kong’s experiences in developing fintech and promoting inclusive finance, including how regulatory sandboxes encourage fintech innovation and the application of new technologies.

     

    He noted that Hong Kong’s robust and internationalised financial infrastructure, along with a balanced regulatory system that promotes security and innovation, is conducive to building a thriving fintech ecosystem.

     

    At a luncheon of the APEC Business Advisory Council, Mr Chan shared Hong Kong’s experiences on leveraging private market capital to better support sustainable infrastructure and climate change projects, as well as creating a more favourable environment for micro, small and medium enterprises to embrace digital finance.

     

    Furthermore, he exchanged views with representatives and business leaders from other economies.

     

    Also during the FMM, Mr Chan spent time meeting South Korea’s Deputy Prime Minister and Minister of Economy & Finance of the Republic of Korea Choi Sang-mok, and Vietnam’s Deputy Minister of Finance Vo Thanh Hung.

     

    In the evening, he departed Peru for the US city of New York where he plans to attend the Bloomberg Global Regulatory Forum today and deliver a speech.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Nations: Readout of the Secretary-General’s meeting with H.E. Mr. Thongloun Sisoulith, President of the Lao People’s Democratic Republic

    Source: United Nations secretary general

    The Secretary-General met with H.E. Mr. Thongloun Sisoulith, President of the Lao PDR in Vientiane on the sidelines of the ASEAN-UN summit.
     
    The Secretary-General and the President discussed the close cooperation between the United Nations and the Lao PDR. The Secretary-General reiterated the support of the United Nations to the Lao PDR, including on its path to sustainable development.
     
    They also discussed the ASEAN-UN partnership, as well as the implementation of the Pact of the Future.
     
     
     
     
     

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Discrimination against Women Praise Japan for Criminalising Non-Consensual Sexual Intercourse, Ask about Women’s Representation in Public and Private Bodies and the Single Surname System for Married Couples

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women today considered the ninth periodic report of Japan, with Committee Experts praising the State’s revision of legislation on rape to criminalise non-consensual sexual intercourse, and raising questions about women’s representation in public and private bodies and the single surname system for married couples.

    Bandana Rana, Committee Expert and Rapporteur for Japan, commended the State party for redefining rape as “non-consensual sexual intercourse” and for raising the age of consent to 16.

    Ms. Rana noted, however, that Japan had been ranked one hundred and twenty-fifth globally in terms of gender equality, due to, among other factors, the low level of women’s representation in government and deeply rooted gender stereotypes that hampered women’s standing.  The State party needed to address these issues, she said.

    Several Committee Experts raised concerns regarding women’s representation in public and private bodies.  One Expert noted that the number of women representatives in government had decreased recently, and that only around 0.8 per cent of company chief executive officers and 7.1 per cent of senior diplomats were women.  How would the State party improve female representation?

    A Committee Expert noted that 94.7 per cent of women adopted their husband’s surname under the current single surname system.  This had negative impacts on their identity and employment.  What were the prospects of reforming the law to allow for a dual surname system?

    Introducing the report, Keiko Okada, Director-General, Gender Equality Bureau, Cabinet Office of Japan and head of the delegation, said revisions to the Penal Code in 2023 clarified that non-consensual sexual acts constituted crimes regardless of marital status and raised the age of sexual consent from 13 to 16.  Multiple other laws addressing sexual violence, including against children, had also been enacted.

    Ms. Okada said the Government aimed to increase the percentage of women among candidates for the House of Representatives and the House of Councillors to 35 per cent by 2025.  The Act on Promotion of Women’s Participation and Advancement in the Workplace made it obligatory for national and local governments to set targets for women’s representation and make information about women’s participation publicly available. 

    The delegation added that companies with 301 employees or more were obliged to develop action plans on promoting women’s participation and publish statistics on women’s representation in workforces, and there were plans to extend this obligation to companies with 101 employees or more. There had been a gradual increase in women’s representation in managerial positions in private companies in recent years.

    Ms. Okada also said public opinion in Japan varied greatly regarding separate surnames for married couples.  The Government would proceed with deliberations on the introduction of such a system while closely monitoring public opinion. It was raising awareness that former surnames could be recorded alongside formal surnames on many official documents.

    In closing remarks, Ms. Okada said the delegation had engaged sincerely in the dialogue.  It hoped that the responses it had provided would be useful for the Committee.

    Ana Peláez Narváez, Committee Chair, in her concluding remarks, said that the dialogue had provided further insight into the situation of women in Japan. The Committee encouraged the State party to undertake further efforts to implement the Convention more comprehensively for the benefit of all women and girls in the State.

    The delegation of Japan consisted of representatives from the Cabinet Office; Cabinet Secretariat; National Police Agency; Children and Families Agency; Ministry of Justice; Ministry of Foreign Affairs; Ministry of Education, Culture, Sports, Science and Technology; Ministry of Health, Labour, and Welfare; and the Permanent Mission of Japan to the United Nations Office at Geneva.

    The Committee will issue concluding observations on the report of Japan at the end of its eighty-ninth session on 25 October.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 10 a.m. on Friday, 18 October to consider the ninth periodic report of Cuba (CEDAW/C/CUB/9).

    Report

    The Committee has before it the ninth periodic report of Japan (CEDAW/C/JPN/9).

    Presentation of Report

    KEIKO OKADA, Director-General, Gender Equality Bureau, Cabinet Office of Japan and head of the delegation, said that for nearly 40 years since ratifying the Convention in 1985, Japan had committed itself to implementing gender equality measures with the aim of eliminating discrimination against women both in its legislation and in practice.

    Following Committee recommendations, a bill to revise the Civil Code to make the minimum legal age of marriage the same for men and women was enacted in 2018 and took effect in 2022.  Another revision to the Civil Code enacted in 2022 abolished the waiting period for women to remarry after divorce.  This took effect in 2024.

    Public opinion in Japan varied greatly regarding separate surnames for married couples. The Fifth Basic Plan for Gender Equality stated that the Government would proceed with deliberations on the introduction of such a system while closely monitoring public opinion and developments in the National Diet’s discussion on the matter.  The Government was committed to expanding the use of former surnames; it was raising awareness that former surnames could be recorded alongside formal surnames on many official documents.

    The Hate Speech Elimination Act, the Act on the Promotion of the Elimination of Buraku Discrimination, and the Act on Promoting Measures for the Ainu People all incorporated the principle that discrimination was unacceptable, while the Basic Plan on Human Rights Education and Human Rights Awareness-Raising promoted human rights education and awareness-raising, identifying issues concerning women, the Buraku community, the Ainu people, and foreign nationals.  The content of the Plan was now being reviewed to address emerging issues.

    Revisions to the Penal Code in 2023 introduced crimes of “penetrative sexual assault” and “indecent assault”; clarified that non-consensual sexual acts constituted crimes regardless of marital status; raised the age of sexual consent from 13 to 16; criminalised requesting or engaging in a meeting with a child aged 15 or under for the purpose of an indecent act; and extended the statute of limitations for prosecuting sexual crimes.  Multiple other laws had also been enacted, including acts establishing the crime of non-consensual recording of a sexual image, preventing harm as a result of performing in sexually explicit videos, and stipulating measures to prevent sexual violence against children in schools and childcare providers. As of 2023, courts were able to issue orders banning spouses, including same-sex spouses, from approaching victims not only in cases of physical violence, but also in cases of non-physical acts causing psychological harm.  A 2022 law also stipulated comprehensive provision of a wide range of assistance for women victims of violence.

    Following 2019 legislation, a lump-sum payment of 3.2 million yen was provided to people with disabilities who underwent forced surgeries or other sterilization procedures. As of 2024, 1,129 claimants, including 817 women, had been approved for receipt of such payments.  In July 2024, the Supreme Court ruled that the provisions of the now-defunct Eugenic Protection Act relating to sterilization surgeries were unconstitutional.  The Prime Minister subsequently apologised on behalf of the Government for its role in enforcing the Act.  In September 2024, a “Basic Agreement” was signed with stakeholders aiming for a comprehensive solution to the issues of the now-defunct Eugenic Protection Act. The Diet also passed and enacted a bill on payment of compensation to persons who underwent eugenic surgery in October 2024.

    Following another Committee recommendation, Japan enacted and enforced domestic legislation to give effect to the United Nations Convention against Transnational Organized Crime and its supplementary protocol on trafficking in persons in 2017.

    In June 2021, measures to combat sexual harassment and harassment related to pregnancy and childbirth were made mandatory.  The Government aimed to increase the percentage of women among candidates for the House of Representatives and the House of Councillors to 35 per cent by 2025. The Act on Promotion of Women’s Participation and Advancement in the Workplace made it obligatory for national and local governments to set targets for women’s representation, formulate action plans comprising measures to achieve their targets, and make information about women’s participation publicly available.

    The Government aimed to ensure that by 2031, 40 per cent of single-parent households received child support, and that 70 per cent of single-parent households that had a child support agreement received it.  Revisions to the Civil Code in May 2024 introduced a statutory child support system that enabled a parent who lived with a child to claim child support from the parent who lived separately.  The revisions updated provisions relating to child support, parental responsibility and custody, making it possible for both parents to be designated as having parental responsibility following divorce.  Sole parental responsibility was always mandated in potential cases of child abuse, domestic violence, or other potential harm.

    Following the Committee’s recommendations, the Government had revised legislation to make it obligatory for employers with 301 or more regularly employed workers to make information about the gender wage gap publicly available.  The Government also offered a consultation service to help companies analyse the factors and reduce gender wage gaps and was promoting the use of digital tools to help companies calculate those gaps.  Local and national governments were also required to make information on gender wage gaps for all their agencies publicly available.

    The Act on Childcare and Family Care Leave was revised in June 2021, creating a parental leave system that allowed fathers to take leave twice, up to a maximum total of four weeks, within the first eight weeks after the birth of their child. Employers with more than 300 employees were required to make uptake rates of parental leave publicly available. Employers were also required to provide flexible ways of working for workers with preschool age children. Legislation was revised to allow employees who took childcare leave for 14 days or more to receive 80 per cent of their pre-leave pay for 28 days.

    ATSUYUKI OIKE, Permanent Representative of Japan to the United Nations Office at Geneva, said Japan had successfully formulated three national action plans on women, peace and security and was eagerly ensuring cross-cutting intergovernmental coordination.  Bodies promoting women, peace and security were established within the Ministry of Foreign Affairs and the Ministry of Defence.  Japan was currently implementing 57 projects across the globe, contributing to promoting the women, peace and security agenda in Asia, Africa and Latin America.  In 2025, Japan would assume the role of Co-Chair of the Women, Peace and Security Focal Points Network; it would make every effort to advance the agenda internationally.

    Questions by Committee Experts 

    BANDANA RANA, Committee Expert and Rapporteur for Japan, commended Japan for its efforts since its last report.  Ms. Rana said that Hiroko Akizuki, the Committee’s Vice-Chair, made valuable contributions to the Committee.  Japan was also congratulated for being nominated as the Co-Chair of the Women, Peace and Security Focal Points Network for 2025.

    Challenges remained for fully achieving gender equality.  Japan had been ranked one hundred and twenty fifth globally in terms of gender equality, due to, among other factors, the low level of women’s representation in government and deeply rooted gender stereotypes that hampered women’s standing.  The State party needed to address these issues.

    Ms. Rana commended the State party for redefining rape as “non-consensual sexual intercourse” and for raising the age of consent to 16.  There was a lack of enforcement of gender equality legislation, leading gender gaps and discriminatory practices to persist.  What legal complaint mechanisms were in place for women who faced discrimination and how was the State party raising awareness of these mechanisms?

    Ms. Rana commended the State party on adopting several laws that addressed discrimination.  There was no definition of intersectional discrimination in legislation.  Would the State party adopt such a definition?  What was the status of efforts to ratify the Convention’s Optional Protocol?

    Japan’s Basic Plan for Gender Equality lacked concrete commitments to address structural barriers for women. How would the State party address the shortcomings in the Plan?

    International treaties had the same effect as domestic legislation in Japan, but courts reportedly rarely applied the Convention.  There were commendable training programmes for judges on the Convention.  How would the State party further promote implementation and awareness of the Convention?

    A Committee Expert commended Japan on its stand on lethal autonomous weapons systems, which was in line with the Committee’s general recommendation 30.

    Responses by the Delegation

    The delegation said that under the Constitution and domestic laws, gender-based discrimination was prohibited. The Fifth Basic Plan on Gender Equality called on the Government to raise awareness about remedy mechanisms available to the public.  The plan would run until the end of 2025.  Consideration of the next plan would begin at a later stage.

    Japan was taking into consideration various issues, including organisational frameworks, in its deliberations on ratifying the Optional Protocol, and would seriously consider ratifying it soon.

    All international human rights treaties ratified by Japan had the same effect as domestic law, and were referred to when necessary in courts.  The Convention attached rights and obligations to the State party, not individuals.  The Legal Training and Research Institute trained judges each year on human rights issues.  Prosecutors also received training on international conventions. 

    Non-governmental organizations had contributed to the State party’s policies on gender; women, peace and security; and to drafting the State party’s report.

    Questions by Committee Experts 

    A Committee Expert said Japan had created shelters and strong policies to address human trafficking.  There were problems in the State party’s measures to address trafficking, which had not changed in the last five years and did not cover the whole country.  What was the role of women in the peacebuilding process in Japan?  Had the Diet implemented gender budgeting?  Would the State party develop an independent national human rights institute for the benefit of women?  Japan needed to provide increased support for non-governmental organizations.

    Another Committee Expert acknowledged legislative measures to promote women’s participation in public life.  The Basic Plan for Gender Equality set targets to increase women’s representation in political bodies, disaster management bodies, and leadership positions to 30 per cent.  Other countries of similar economic capacity were seeking to achieve parity, so it was disappointing that these modest targets had not been reached.  What progress had been made in achieving the targets in the Plan?  Would the State party adopt temporary special measures to reduce the fee of three million yen required for running for political office?  Were there temporary special measures targeting Buraku women and women with disabilities?  The Expert congratulated Nihon Hidankyo on receiving the 2024 Nobel Peace Prize and asked how the Government was supporting women hibakusha and women and girls affected by the Fukushima Daiichi nuclear disaster.

    Responses by the Delegation

    The delegation said Japan had 10 women ambassadors and six general counsels who were women.  Forty per cent of Foreign Ministry employees were women, and this percentage was expected to increase.

    The Government had announced preventative measures to address sexual abuse by United States forces in Okinawa.  A new forum had been established between the military and residents of Okinawa.  Japan had primary jurisdiction over offences committed by military personnel.

    National and regional legal affairs bureaus had staff members that received complaints of human rights violations from women. There had been a significant increase in the budget promoting gender equality in recent years.  The Government’s 2024 budget included investments of 10.6 trillion yen in gender policies.

    The Government was working to promote the participation of women with disabilities in decision-making processes.  The Government had a policy committee for persons with disabilities; 40 per cent of its members were women with disabilities. The central government mandated local governments to formulate plans supporting persons with disabilities.

    The Convention did not apply to the period of the Second World War.  However, Japan had legally concluded all claims and property issues related to comfort women.  It had also established a fund that provided atonement for former comfort women, who were also sent letters of apology by the Prime Minister.  Meetings had been conducted with former comfort women.  The Government had also significantly invested in a healing foundation for comfort women and provided direct support to 65 surviving comfort women.

    Some women who had evacuated Fukushima after the nuclear incident had returned.  Experts monitored the health impact of radioactive material and were providing accurate information on risks to residents.

    Questions by Committee Experts

    A Committee Expert said the State party was promoting awareness of unconscious gender bias, but patriarchal attitudes continued to be present in various aspects of life.  How did the Government measure the effectiveness of awareness activities? Would the State party consider policies to counter gender stereotyping at all levels, which appeared to be normalised in society?  How would the State party prohibit discriminatory remarks by politicians?

    How could rape be prosecuted without accusation from victims? There were reports that perpetrators of offences by United States military personnel in Okinawa against women were not brought to justice.  How was the State party addressing this?  Could the State party provide data on arrests, prosecutions and convictions?

    Resource allocations to enforce prevention of spousal violence were reportedly insufficient.  Would the State party consider revising legislation to address coercion and psychological violence?  How was it building the capacity of the judiciary related to their understanding of gender-based violence?  How were shelters for victims of domestic violence being funded?  Was there a level of awareness amongst women regarding new legislation on non-consensual sex and their right to refuse sex?

    BANDANA RANA, Committee Expert and Rapporteur for Japan, commended the 2014 national action plan to combat trafficking in persons and the establishment of the council to combat trafficking in persons.  What measures were in place to improve identification mechanisms for victims of trafficking?  Current legal provisions did not fully encompass non-coercive forms of trafficking. How would this be addressed? Labour trafficking remained significantly underreported.  How would the State party secure convictions in trafficking cases and enhance cross-border cooperation to ensure the safe return of trafficking victims? Victimisation of girls persisted in the online sphere through child prostitution and pornography.  How was this being addressed?  Did programmes to prevent trafficking reach rural areas? What measures were in place to prevent the trafficking of young women and girls forced into prostitution by economic hardship?

    The Committee acknowledged efforts made by Japan to address the comfort women issue.  These steps needed to be sustained and enhanced to ensure the rights of victims to truth, justice and reparation.

    ANA PELÁEZ NARVÁEZ, Committee Chair, asked how legislation addressed sexual acts against persons who could not give consent, such as children and persons with disabilities.

    Responses by the Delegation

    The delegation said that the Cabinet Office had conducted surveys in 2021 and 2022 that revealed unconscious bias related to gender.  It had since implemented various measures to promote awareness of unconscious bias in government and society.  The Act on Promotion of Gender Equality in the Political Field required political bodies to implement training to prevent sexual harassment against persons holding public office.  Individual cases of harassment were handled according to the law.

    In 2023, the Penal Code was revised to specify that non-consensual sexual relations were prohibited in all situations. Information had been posted on Government websites, and leaflets and posters had been created, informing women and girls about the new legislation.  Lectures on the new law had also been provided for staff at one-stop support centres.  Persons who had sex with persons who could not give consent due to a disability or other factors were punished under the law.

    A victim-centred approach was taken to addressing the issue of sexual abuse by military personnel against women in Okinawa. Suspects were held by the military until the Japanese Government indicted them.  The Government was committed to holding all perpetrators accountable.  There were three arrests of United States forces for non-consensual sex with women and one arrest for indecent assault.

    The Act against Sexual Violence was amended in 2023 to address threats of violence and extend restraining orders for perpetrators of domestic violence.  The Legal Training and Research Institute had conducted training on domestic violence for family court clecks and investigators.  Courts could order prohibition of repeated phone calls to victims. Forty-seven publicly run shelters were provided for victims of sexual and gender-based violence, and the Government also supported privately run shelters.  Livelihood support was provided for victims, as was education support for their children.  In 2023, 1,100 protection orders were issued by courts.

    In 2022, the Government introduced an action plan on trafficking in persons, which promoted the identification and support of victims. After 2022, Japan had been attending the meetings of the Bali Process and contributing funds to the International Organization for Migration to promote awareness of trafficking and voluntary returns of victims.  Japan had supported the return of over 600 victims.  The Japan Coast Guard conducted inspections of vessels and took protective measures if there were suspicions of trafficking.  The Immigration Services Agency investigated whether asylum seekers were victims of trafficking.  Residence visas could be issued to persons found to be victims.  The Agency provided consultations and information on trafficking in persons in multiple languages, and victim protection services through regional contact points.  The police had also been trained in identifying victims of trafficking.

    Legislation had been enacted to address online child pornography and child prostitution.  Persons who distributed child pornography were prosecuted under this legislation.

    Japan aimed to lead global efforts to prevent gender-based violence.  It was providing financial contributions to organizations supporting women affected by conflict and was conducting awareness raising campaigns to prevent such incidents.

    Questions by Committee Experts

    A Committee Expert commended efforts to remove barriers to female political representation in Japan.  It was concerning that the number of women representatives in government had decreased recently.  Only around 0.8 per cent of company chief executive officers were women, there were only two female justices in the Supreme Court, and only 7.1 per cent of senior diplomats were women.  How would the State party improve female representation in these areas? Would it implement penalties or incentives to improve female representation?

    Another Committee Expert said that mixed nationality couples and single foreign parents had issues with passing nationality onto their children.  Did children of mixed couples obtain Japanese nationality upon birth, regardless of the marital status of their parents? Could more detail be provided about changes in the nationality law in 2024?  Children of foreign nationals born in Japan were not granted Japanese nationality and foreign residents were not allowed the right to vote.  Could they be appointed to government positions?  Was there a complaints mechanism for denied nationality applications?

    Responses by the Delegation

    The delegation said the Basic Act for Gender Equality called on the Government to pursue affirmative actions to promote gender equality.  It set numerical targets for women’s representation and measures were developed to achieve those targets.  Numerical targets had been set for the representation of women in private sector companies.  More than half of new employees of the Foreign Ministry were women.  Currently, the Supreme Court had three women judges, meaning 20 per cent of its judges were women.  The Government was exerting efforts to increase the representation of women in the judiciary.  Companies with more than 301 employees were obliged to develop action plans on promoting women’s participation and publish statistics on women’s representation in their workforces, and there were plans to extend this obligation to companies with more than 101 employees.  There had been a gradual increase in women’s representation in managerial positions in private companies in recent years.

    The 2024 revision to the law on nationality was enacted to ensure that nationality was not granted when false claims were made by applicants.  There was no specific complaint mechanism related to obtaining nationality. Nationality could be obtained through naturalisation and other means.

    Questions by Committee Experts

    BANDANA RANA, Committee Expert and Rapporteur for Japan, said that Japan was one of the world’s largest donors to international efforts promoting gender equality.  How would the State party promote women’s participation in peace negotiations?

    Another Committee Expert said horizontal segregation persisted in Japan.  The share of female students in physical science education was 15 per cent, and around 10 per cent in engineering education. Women professors made up around 17 per cent of professors in universities.  Would the State party introduce temporary special measures to address these issues?  Why were many female lecturers hired in temporary positions?  How was the State party encouraging women to become doctors?

    How did the State party ensure standardisation and the accuracy of information in history textbooks?  How many male teachers were there in primary schools?  What measures were in place to improve the working environment for women teachers?  Did teacher training address verbal and psychological violence?  Would the State party adopt Convention standards related to sexual education?  What measures were in place to address bullying against lesbian, gay, bisexual, transgender and intersex children and children from non-conventional families?

    A Committee Expert said the Penal Code had recently been revised to address online insults; how many cases of online insults had since been prosecuted?  Marginalised women experienced disproportionate levels of workplace harassment.  The gender wage gap was wide, at 23 per cent, and there was a large proportion of unemployed work-age women.  What measures were in place to address these issues?  Most women worked in irregular employment positions; would the State party consider requiring companies to report on the percentage of women in such positions?  What protections were available for workplace harassment of whistle-blowers?  The Convention needed to be upheld in Supreme Court deliberations regarding selective surnames for women.

    Responses by the Delegation

    The delegation said that in 2023, Japan positioned gender mainstreaming as an important part of official development assistance.  It was promoting women’s empowerment through foreign policies. Wide-ranging discussions were held on the empowerment of women at the G-7 as a part of gender mainstreaming efforts. Women were encouraged to participate in humanitarian aid activities.

    Under the fifth Basic Plan for Gender Equality, there was a target for increasing women and girls’ participation in science, technology, engineering and maths education.  Women’s participation in this education had gone up this year.  The Government was also promoting diversity among university students and supporting women studying science, technology, engineering and maths subjects through scholarships.  It also awarded universities that took positive measures to enrol women students and was distributing increased funding for universities that employed high percentages of women professors and women in leadership positions.  The Government was supporting women to return to work in research after childbirth.  It found that there had been discrimination against women in three medical schools’ entrance examinations.  Measures had been taken to ban such discrimination and prevent its recurrence.

    The Government had national curriculum standards that textbook publishers needed to adhere to.  School textbooks promoted harmony between students and provided education on gender equality.  In the authorisation process, academic and other experts assessed draft textbooks created by private sector companies to ensure that they explicitly promoted gender equality.

    Overtime payment was not provided to teachers, but teachers’ salaries were adjusted based on the amount of work they conducted.  The Government was trying to reduce working hours for teachers by hiring additional teachers and implementing other measures. Teacher training covered respect for human rights and support for students of diverse backgrounds.

    Bullying, including of lesbian, gay, bisexual, transgender and intersex children, was not tolerated in schools.  Psychological health surveys and individual support teams were employed to respond quickly to school bullying, and guidelines were being revised to strengthen responses to bullying.  A policy to address deep-fake pornography was included in the Basic Plan for Gender Equality.

    Employers were not allowed to select employees based on weight, height or physical strength, or based on their ethnic background or belief. Each public and private entity had a quota for employment of persons with disabilities.  This had led to increased employment of such persons.  A workplace diversity promotion project was launched in 2019.  Companies that actively employed women were certified and provided with tax incentives. The Government, over the next three years, would introduce measures to support women’s employment in the digital field.  There were 73 prosecutions involving insults in 2023.

    Questions by Committee Experts

    A Committee Expert said the Equal Employment Act did not recognise discrimination based on pregnancy, rural background or age. Would the State party amend this legislation?  More than 50 per cent of female workers were in temporary positions.  This needed to be addressed.  The 2025 World Expo was an opportunity to showcase that the future of work was female.

    Another Committee Expert asked about the slow pace of dismantling single-sex schools, which validated differences between the sexes.  What timeline did the Government have to achieve this?  What reparation had been provided to women who had been denied admission to medical schools due to discrimination?  How would the State party address negative comments by authorities related to reproductive education?

    A Committee Expert said a 2023 Government pilot had made emergency contraception pills available in pharmacies.  Would this pilot project be made permanent, and would contraception be provided to persons under 18?  Women in Japan had to get consent from spouses to seek abortions.  There were even cases where single women had had to seek permission from partners to obtain abortions.  Would the Government remove this requirement?  Only around three per cent of clinics offered abortion pills that were as expensive as other abortion procedures and needed to be taken in front of medical staff.  What measures were in place to increase access to abortion pills and to allow women to take these pills at home?

    The Committee commended the Government for apologising for the sterilisation of persons with disabilities conducted under the former eugenic protection law and for committing to provide compensation to victims. What reproductive rights did women with disabilities currently have?  What progress had been made in reducing per- and polyfluoroalkyl substances in water supplies, which were harmful for pregnant women?

    Another Committee Expert commended the revised Pension Act and support provided for start-ups created by women.  Around 15 per cent of women in Japan lived below the poverty line. Women in part-time work lacked adequate safety nets to keep them from poverty.  What measures were in place to further extend women’s access to employment opportunities and low-interest credit?  How would the State party address the gender digital skills gap? Were there financial literacy programmes for women in rural areas?  What percentage of the social security budget was devoted to older women, women with disabilities, foreign students and rural women workers?  Had the State party considered reforms that would establish guaranteed pensions for all individuals and family benefits for women with children classified as “illegitimate”?  How was the State party promoting women’s participation in sports and cultural programmes?

    Responses by the Delegation

    The delegation said the Government would continue to consider expanding the scope of legislation on indirect discrimination in recruitment, considering societal attitudes.  Japan’s efforts to promote women’s empowerment would be showcased at World Expo 2025. 

    Japan had no plans to dismantle single-sex schools.  Schools and boards of education made decisions related to single-sex education in individual schools.  Sexual and reproductive education called on students to respect the opposite gender and to make informed decisions regarding sexual activities.

    A trial was being conducted on the sale of emergency contraception pills at pharmacies and a research project on the provision of the abortion pill at medical clinics had been concluded this year.  The Government would analyse their results.  Male spouses needed to permit pregnant women to seek abortions, except in cases of domestic abuse or for unmarried mothers. The Government would deepen social discussions on this issue.

    The Government had developed a plan for promoting female digital talent; it was expanding opportunities for female high school and university students to receive education on programming.  The Government provided loans to female entrepreneurs who had difficulties obtaining funds and was collecting statistics on the number of start-ups created by women.  Seminars had been conducted to promote capacity building for women entrepreneurs.

    In 2022, the Government published cross-sectoral guidelines on business and human rights.  It would continue to study the possibility of future laws on human rights due diligence.

    The average monthly pension as of 2022 was 58,000 yen for men and 54,000 yen for women.  There was no gender gap in the system itself; the difference was due to gaps in work style between men and women.  Japan had a universal pension system.  The Government would expand the scope of employees qualified to receive pensions and would provide additional support to elderly women recipients of pensions.

    Questions by Committee Experts

    A Committee Expert asked about the timeline for the trial of emergency contraception, and asked whether the Government would change legislation to remove the requirement for people who wished to change genders to be sterilised.  It was extraordinary that women in Japan needed to get permission from spouses to obtain abortions, except in cases of divorce, domestic violence or death of spouses. Would the State party revise this?

    Another Committee Expert asked about the number of female beneficiaries of financial loans.  How would the State party provide pension coverage for all vulnerable groups, including women not in employment, education or training?

    Responses by the Delegation

    The delegation said it was currently difficult to indicate a timeline for the trial of emergency contraception, but the Government would continue to consider this.

    The poverty rate was higher for females than for males. To address this, a supplementary pension benefit was provided for low-income households.

    The Government provided various sporting opportunities for women and was promoting women’s participation in governance of sporting organizations.  A plan had been adopted that promoted women’s participation in cultural activities.

    Questions by Committee Experts

    BANDANA RANA, Committee Expert and Rapporteur for Japan, commended plans to support land ownership for rural women.  Rural women lacked access to adequate social benefits such as maternity and sickness leave. How would the State party address this? 

    Ms. Rana welcomed inspections that had led to the detection of abuse of migrant technical intern trainees.  However, migrant women workers continued to face discrimination, threats of repatriation abroad, and poor working conditions.  How was the State party addressing these issues?  What measures were in place to address barriers to accessing health care for women with disabilities?

    Women’s representation in climate change decision making was low.  How would the Government address this, and ensure that extraterritorial investments protected women’s rights?  How would the State party take responsibility for monitoring nuclear standards with regards to the dumping of nuclear treatment water into the ocean?

    Another Committee Expert said that 94.7 per cent of women adopted their husband’s surname under the current single surname system.  This had negative impacts on their identity and employment. What were the prospects of reforming the law to allow for a dual surname system?

    What measures were in place to address the impact of discriminatory practices against children born out of wedlock?  There were barriers to women accessing assets in divorce settlements.  How was the Government working to train the judiciary on these issues so that justice could be imparted with a gender perspective?  How would it protect victims of family violence after the introduction of joint custody decisions?  Were there plans to increase court resources for this purpose?  Would the State party allow for adoption by same-sex couples?  The Committee suggested that the State party consider establishing equality between men and women regarding the appointment of female emperors.

    Responses by the Delegation

    The delegation said foreigners could be appointed to certain public servant positions, but not all positions.  In 2022, several thousands of inspections were carried out under the technical intern trainee law, which had identified human rights violations.  Employers that violated migrant workers’ rights were sanctioned.

    The Ministry of Environment was actively employing women. Discharged water from the Fukushima Daiichi nuclear plant was not contaminated with nuclear material.  The International Atomic Energy Agency had determined that the radiation impact of this water was negligible and that the disposal of this water into the ocean was safe.

    Opinions were mixed regarding selective separate surnames. The Government was offering information to deepen debate on the topic in the public and in the Diet.

    The best interests of the child needed to be considered regarding visitation rights for parents.  The revision of legislation on visitation did not harm the rights of children. In 2024, the Civil Code was revised to promote the separation of property after divorces.  The period in which claims could be made to family courts were extended from two to five years.  The revised law promoted the fair division of property.

    It was not appropriate for the Committee to raise the issue of revising the system of succession to the Imperial Throne of Japan.

    Questions by Committee Experts

    ANA PELÁEZ NARVÁEZ, Committee Chair, said that the Committee had capacity to raise relevant questions regarding equality between men and women, including regarding succession to the throne.  This was a topic that was directly relevant to the Convention.

    A Committee Expert welcomed that the Government had removed a policy offering grants to women to move away from Tokyo to get married. What was the level of engagement of women in policy making such as this?

    Another Committee Expert asked about efforts to ensure that family law included a gender perspective.

    Responses by the Delegation

    The delegation said the Japanese Government had set targets regarding the percentage of per- and polyfluoroalkyl substances in drinking water.  There had been no reports of health issues related to levels of these substances, but monitoring of water resources would continue to ensure the safety of the public.

    The Government would continue to support the capacity building efforts of family courts.  It was providing information about women’s ability to use maiden names to apply for certain State services.

    Concluding Remarks

    KEIKO OKADA, Director-General, Gender Equality Bureau, Cabinet Office of Japan and head of the delegation, said the delegation had engaged sincerely in the dialogue.  It hoped that the responses it had provided would be useful for the Committee.

    ANA PELÁEZ NARVÁEZ, Committee Chair, said that the dialogue had provided further insight into the situation of women in Japan.  The Committee encouraged the State party to undertake further efforts to implement the Convention more comprehensively for the benefit of all women and girls in the State.

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    CEDAW24.030E

    MIL OSI United Nations News –

  • MIL-OSI: Exosens announces agreement to acquire NVLS (Night Vision Laser Spain), specialist in night vision equipment

    Source: GlobeNewswire (MIL-OSI)

    EXOSENS ANNOUNCES AGREEMENT TO ACQUIRE NVLS (NIGHT VISION LASER SPAIN), SPECIALIST IN NIGHT VISION EQUIPMENT

    PRESS RELEASE
    MÉRIGNAC, FRANCE– MADRID, SPAIN, OCTOBER, 22nd 2024

    • Exosens announces having reached a definitive agreement to acquire Spanish-based NVLS, a specialist in night vision equipment, widening its optical and mechanical deep know-how
    • This acquisition will enable NVLS to develop its business in Spain, Latin America and Asia and will contribute to providing enhanced night vision solutions to Armed Forces.

    Exosens, a high-tech company focused on providing mission and performance-critical amplification, detection and imaging technology, today announces the signing of the acquisition of Spain-based company NVLS, a specialist developer and manufacturer of man-portable night vision and thermal devices.

    “With the acquisition of NVLS, we will enhance our long-term innovation capabilities for multi-sensor platforms using detectors and cameras made by Exosens.

    Serving and delivering large volumes of high-performance image intensifiers to all our customers and end-users remain our priority in the years to come. We are committed to our customers to maintain the same high level of service and support that we have thrived to constantly deliver as the reference ITAR-free image intensifier tube provider».” commented Jérôme Cerisier, CEO of Exosens.

    NVLS, based in Spain with 63 employees, has developed a strong expertise in the field of man-portable night vision equipment, offering ultra-compact large field of view devices that provide enhanced visibility for land and aviation missions. These devices have been introduced as the new standards within the Spanish Armed Forces, Customs Police and Guardia Civil.

    “We are very pleased to join Exosens group with which we have built a strong supplier relationship since many years. All our products lines have always been using Photonis image intensifier tubes which ensure a high level of image quality and reliability. We will continue to benefit from their extended sensors technology platform to develop a new generation of devices, bringing unrivaled performances to armed forces.” stated Jorge de la Torre, CEO of NVLS.

    The transaction is expected to be finalized in the coming months. Terms of the transaction are not being disclosed and are pending customary clearances and approvals.

    ABOUT EXOSENS:

    Exosens is a high‐tech company, with more than 85 years of experience in the innovation, development, manufacturing and sale of high‐end electro‐optical technologies in the field of amplification, detection and imaging. Today, it offers its customers detection components and solutions such as travelling wave tubes, advanced cameras, neutron & gamma detectors, instrument detectors and light intensifier tubes. This allows Exosens to respond to complex issues in extremely demanding environments by offering tailor‐made solutions to its customers. Thanks to its sustained investments, Exosens is internationally recognized as a major innovator in optoelectronics, with production and R&D carried out on 11 sites, in Europe and North America and with over 1,700 employees.

    Exosens is listed on compartment A of the regulated market of Euronext Paris ﴾Ticker: EXENS – ISIN: FR001400Q9V2﴿ and is a member of Euronext Tech Leaders segment.

    For more information: exosens.com

    Forward-looking statements

    Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Exosens operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from the forward-looking statements included in this press release.

    Media contacts for Exosens:
    Brunswick group – exosens@brunswickgroup.com
    Laetitia Quignon, + 33 6 83 17 89 13
    Nicolas Buffenoir, + 33 6 31 89 36 78

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    The MIL Network –

  • MIL-OSI: Wendel announces a transformational transaction in line with its strategic roadmap

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE – OCTOBER 22, 2024

    Wendel announces a transformational transaction
    in line with its strategic roadmap

    • Acquisition of Monroe Capital LLC dramatically expands Wendel’s Asset Management platform and rebalances its business model towards more recurring cash flows and growth
    • Wendel’s Asset Management platform will represent c.€31 billion1 of AuM in private assets and is expected to generate c.€160 million2 of Fee Related Earnings and c.€185 million of total pre-tax profit in 2025

    Wendel (MF-FP) today announced that it has entered into a definitive partnership agreement including the acquisition of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, and will invest in GP commitment for up to $200 million.

    For Wendel, the acquisition of a controlling stake in Monroe Capital, a private credit market leader focused on the U.S. lower middle market that has established an outstanding track record, would represent a significant and transformational advancement of the strategy it announced in March 2023 to develop its third-party asset management platform to complement its longstanding principal investments business.

    This transaction follows Wendel’s recent acquisition of IK Partners, a European leader in middle market private equity, as it seeks to build a scaled third-party asset management platform, based on strong performing General Partners with distinctive and focused expertise, an entrepreneurial mindset and an emphasis on the middle market. The embedded organic growth of those acquisitions will be complemented by Wendel’s unique value proposition which includes:

    • Capital to sponsor new strategies and fund organic and inorganic initiatives ($800 million in the sponsoring program and up to $200m of GP commitment for Monroe Capital)
    • Wendel’s network to develop long term strategic partnerships with highly regarded LPs (Wendel and Monroe Capital intend for AXA-IM Prime to participate in the transaction)
    • Cross selling opportunities by combining the expertise and client bases of GPs
    • Development of centralized fundraising platform to address new markets

    The transaction is subject to the satisfaction of closing conditions and receipt of regulatory approvals. It is expected to be completed in the first half of 2025.

    A private credit leader in the U.S. middle market with a demonstrated strong track record across market cycles

    Founded in 2004 by Ted Koenig, Monroe Capital provides private credit solutions to borrowers in the U.S. and Canada, managing $19.53 billion of assets across 45+ investment vehicles. Monroe Capital’s strategic verticals are Lower Middle Market Direct Lending, Alternative Credit, Software & Technology, Real Estate, Venture Debt, Independent Sponsor and Middle Market CLOs. Each vertical has demonstrated strong investment performance and offers potential for significant organic growth.

    Through July 1, 2024, Monroe Capital has directly originated over 700 transactions, has invested over $44 billion and has earned c.10% gross unlevered IRR4 for its directly originated transactions. Monroe Capital’s LP base is very broad and diversified, including public pensions, insurance companies, family offices and high net worth individuals from across the globe.

    The firm, which is headquartered in Chicago, maintains eleven offices, of which nine are in the U.S., one in Abu Dhabi, UAE and one in Seoul, South Korea. Monroe Capital has grown to a team of over 270 employees, including 110 investment professionals.

    A transaction aligning strategic interests of all stakeholders over the long-term

    The envisaged transaction is a strategic partnership in which Monroe Capital’s teams — who remain committed for the long term — will continue to operate independently and autonomously in day-to-day management of current markets and strategies, under the same brand. Monroe Capital’s Investment Committee also would remain fully independent.

    A key feature of the planned partnership will be the commitment of significant capital by Wendel to support Monroe Capital’s present and future funds, as well as the development of new strategies. The contemplated transaction would lead to the full acquisition by Wendel of Monroe Capital over time, with subsequent transactions structured to ensure alignment of interests of all stakeholders:

    (i)      Initial transaction

    As part of the initial transaction, which is expected to be finalized in the first half of 2025, Wendel shall invest $1.13 billion, to acquire 75% of Monroe Capital’s shares (50% from Monroe management and 25% from Bonaccord Capital Partners who is a minority interest owner of Monroe) together with rights to c.20% of the carried interest generated on past and future funds. Monroe management will continue to own 25% of the Company post-closing.

    (ii)      Long-term alignment and subsequent transactions

    This transaction aims to maintain a long term and uncapped alignment of interests between Wendel and Monroe Capital’s 23 partners and employees:

    The initial transaction involving 75% of Monroe Capital would be complemented by an earn-out mechanism in the maximum amount of $255 million, subject to Fee Related Earnings (“FRE”) performance thresholds (Max if CAGR above c.26%) in the period, and if achieved would be paid in cash in 2028.

    The total consideration for the 75% would correspond to c. 14.7x to 18.5x 2025e pre-tax FRE depending on the earn out effectively paid and a 4.2x 2025e pre-tax Performance Related Earnings.

    Wendel will have a path to purchase the remaining 25% of Monroe Capital’s shares in subsequent transactions (put / call mechanisms) that would take place in three instalments over 2028 and 2032 and be payable in cash. The purchase of the remaining 25% shares would be valued through variable purchase multiples determined depending on realized FRE growth.

    (iii)      Capital commitment

    In addition, to accelerate Monroe Capital’s growth, Wendel would seed future new initiatives launched by the Company, with sponsor money, up to a maximum of $800 million in total, thereby supporting Monroe’s growth and diversifying Wendel’s investments in asset classes. In addition, Wendel will fund GP commitment of c.1% of funds to be raised, up to a maximum of $200 million. In total, Wendel will invest $1 billion into Monroe Capital’s funds.

    (iv)      AXA IM Prime’s investment alongside Wendel

    In addition, Wendel and Monroe Capital intend for AXA IM Prime to participate in the transaction. Wendel and AXA IM Prime have longstanding relationship and have jointly worked since inception on the current transaction. Both companies are now in discussion to confirm AXA IM Prime investment (up to $50m) as a minority shareholder, through its GP-stake fund “AXA IM Prime Capital Partners I” (“PCP I”), alongside Wendel in Monroe Capital. AXA Group (CS-FP) is the anchor investor of PCP I and already a significant and historic Limited Partner in Monroe Capital’s funds.

    Wendel to become an Asset Manager alongside its historical Principal Investment activity

    Wendel’s ambition is to build a sizeable Asset Management platform managing investments in multiple private asset classes, alongside its historical Principal Investment activity. The development of the third-party Asset Management platform will provide Wendel with recurring and growing cashflows as well as exposure to multiple and high performing asset classes. As a result, Wendel’s dual business model is expected to generate an attractive and recurring return to shareholders.

    With IK Partners and Monroe Capital, Wendel’s third party private asset management platform will reach c.€31 billion in AUM5, c.€ 455 million revenues, c.€160 million pre-tax FRE (c.€101 million in pre-tax FRE (Wendel share) by 2025 and is expected to reach €150 million (Wendel share) in pre-tax FRE by 2027 through double-digit organic growth.

    This evolution of Wendel’s business model is designed to enable the development, over time, of a value-creating platform with the potential to generate operational synergies.

    The third-party Asset Management platform will be developed alongside Wendel’s Principal Investment strategy, with the objective of generating double-digit Total Shareholder Return.

    Laurent Mignon, Wendel Group CEO, commented:

    “One year after announcing the acquisition of 51% of IK Partners, we are proud to announce the acquisition of 75% of Monroe Capital LLC, creating a strong partnership with a private credit leader in the U.S. lower midmarket. This acquisition marks an important step forward for Wendel’s asset management platform, which we are committed to scaling. Wendel is becoming an asset manager alongside our decades-long activity as a long-term equity investor. Monroe Capital, founded by Ted Koenig in 2004, is a terrific company that has consistently delivered strong performance across various market cycles in North America, bolstered by a surge in demand for private credit solutions and with the scale to capitalize on the growing opportunity set we see in private credit. Monroe Capital is strategically positioned to capitalize on this increasing demand, attracting both institutional and retail investors.

    Through this partnership with Monroe Capital, we are thrilled to collaborate with Ted Koenig, Chairman and CEO, Zia Uddin, President, and their talented teams to support their success and their ability to deliver robust financial performance over the coming years. It will be also a great privilege for Wendel to partner with such a renowned investor as AXA IM Prime.

    Wendel is executing its strategic plan with determination, rigor and financial discipline, as demonstrated by this transformational acquisition, while also focusing on premium assets in our principal investment activities, highlighted by the recent acquisition of Globeducate. Our transformation to a dual-strategy model is now well-grounded, with top partners in asset management such as IK Partners in private equity and now Monroe Capital in private credit. Our priority for the near future will be to build our platform and to work on the rotation of our Principal Investment assets.

    I would like to express my gratitude to the Wendel teams for their unwavering dedication and to the Supervisory Board of Wendel for its constant support in driving this ambitious strategy forward.”

    Theodore L. Koenig, Chairman & CEO of Monroe Capital commented:

    “We are excited to partner with Wendel and AXA IM on this next chapter of Monroe’s growth. Their commitment to our business will provide meaningful and stable capital to thoughtfully scale our platform and better capture the attractive and expanding opportunity in middle market private credit. Specifically, Wendel’s $1 billion commitment will accelerate our client-centric growth strategy and deliver meaningful benefits to our global investor base.”

    UBS acted as exclusive financial advisor to Wendel and Kirkland & Ellis LLP acted as legal counsel to Wendel. Wendel was also assisted by Fenchurch Advisory for this transaction. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Monroe Capital, and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel to Monroe Capital.

    About Monroe Capital

    Monroe Capital LLC (“Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains 11 offices throughout the United States and Asia.

    About Wendel

    Wendel is one of Europe’s leading listed investment firms. The Group historically has made long-term equity investments in European and North American companies that are leaders in their field, including its current investments ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. With Wendel Growth, Wendel also invests via funds or directly in innovative, high-growth companies. In 2023, Wendel announced its intention to build out a third-party private asset management platform to complement its principal investment activities. In the first step in advancing this dual-strategy model, Wendel in May 2024 finalized the acquisition of a 51% stake in IK Partners.

    Agenda

    Thursday, October 24, 2024

    Q3 2024 Trading update – Publication of NAV as of September 30, 2024 (post-market release)

    Friday, December 6, 2024,

    2024 Investor Day.

    Wednesday, February 26, 2025

    Full-Year 2024 Results – Publication of NAV as of December 31, 2024, and Full-Year consolidated financial statements (post-market release)

    Thursday, April 24, 2025

    Q1 2025 Trading update – Publication of NAV as of March 31, 2025 (post-market release)

    Thursday, May 15, 2025

    Annual General Meeting

    Wednesday, July 30, 2025

    H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

    1 As of September 2024

    2 c.€101m of FRE expected in 2025, Wendel share.

    3 committed and managed capital (as of July 1, 2024)

    4 Across fully exited companies

    5 As of September 2024

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    The MIL Network –

  • MIL-OSI New Zealand: Assessments – New Zealand, UK, and Australia lead global list of economies engaging in sustainable trade best practices

    Source: Hinrich-IMD Sustainable Trade Index 2024

    New Zealand has topped the Hinrich-IMD Sustainable Trade Index (STI) 2024 for the third consecutive year, with the United Kingdom (UK) following in second place and Australia securing third. 

    The Index measures how well trade contributes to mutually beneficial and balanced economic, social, and environmental outcomes among 30 trading economies. (ref. https://www.hinrichfoundation.com/research/wp/sustainable/sustainable-trade-index-2024 )

    New Zealand (first) retains its top spot for the third consecutive edition and leads the environmental dataset.

    The UK is second for the third edition in a row. However, it does perform worse than in 2023 in the economic dataset.

    Australia (third) has risen two positions since last year. Its greatest progress is in the environmental dataset.

    Crucially, building “workforce resilience” is becoming a major goal of governments and the private sector worldwide, the report signals. This means having a healthy, educated, and unexploited workforce, which allows economies to better withstand shocks and seize emerging opportunities. “National resilience” and “environmental resilience” are also key concerns.

    “Workforce resilience” is part of a broader trend to encourage “societal resilience,” the authors say. Societal resilience is the effect of investments that foster both economic and social stability. New Zealand, Canada, Australia, Taiwan, and Singapore do best here.

    The Index is a joint project between the Hinrich Foundation and the International Institute for Management Development (IMD) and is in its third year.

    It measures 30 economies, including members and applicants of major trade alliances, such as the Asia-Pacific Economic Cooperation (APEC), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).

    “The STI allows us to track how effectively trading economies are meeting the three pillars of sustainability: economic growth, societal advancement, and environmental stewardship. Achieving balanced outcomes between the three pillars is essential for resilience,” said Kathryn Dioth, CEO of the Hinrich Foundation.

    “By investing in human capital, countries can build adaptable workforces capable of thriving amid economic fluctuations and global challenges,” said Christos Cabolis, Chief Economist of the IMD World Competitiveness Center, which led the research for IMD.

    Other major findings include:

    ·         Global trade is increasingly shaped by protectionist regulations, where economies favor policies that strengthen domestic industries and secure supply chains. This shift toward industrial policy, aimed at building economic resilience, marks a long-term trend, resulting in the fragmentation of the global trading system.

    ·         Addressing climate resilience is complex because tackling climate change often requires regulatory interventions, whereas global trade flourishes with fewer barriers. The emergence of climate and trade agreements that promote trade in environmental goods and services could balance the dual objectives of open trade while addressing climate change. 

    ·         A few mid-ranking economies have shown consistent progress or stability over the last three years (2022-2024). Amongst them, Thailand gained three spots in the STI from 2022 to reach 12th place this year, Vietnam recorded a six-place rise, and Chile held a steady position at 11th across the three years.

    The Index measures 72 data points, categorized into three “pillars”: economic, societal, and environmental, considered by the researchers to be the main axes of sustainable trade. They represent economic growth, societal well-being, and environmental stewardship, respectively.

    A new indicator measuring universal health coverage (UHC) from the WHO’s Global Health Observatory (GHO) was introduced to the societal pillar in this edition.

    About the Hinrich Foundation

    The Hinrich Foundation is an Asia-based philanthropic organization that works to advance mutually beneficial and sustainable global trade. We believe sustainable global trade strengthens relationships between nations and improves people’s lives. We support original research and education programs that build understanding and leadership in global trade. Our approach is independent, fact-based, and objective. We are an authoritative source of knowledge, sharp analysis, and fresh thinking for policymakers, business, media, and scholars engaged in global trade.

    hinrichfoundation.com

    MIL OSI New Zealand News –

  • MIL-OSI USA: LaLota Hosts Leaders from Suffolk Veterans’ Community

    Source: United States House of Representatives – Representative Nick LaLota (NY-01)

    ROCKY POINT, NY – Rep. Nick LaLota (R-Suffolk County), a Navy Veteran, held a Veterans Roundtable at the Rocky Point VFW with key stakeholders and subject-matter experts to discuss the numerous issues facing Long Island’s Veteran community.

    “As a Navy veteran, I deeply appreciate everyone who joined our roundtable in Rocky Point. Hearing directly from those on the front lines of veterans’ issues is crucial in tackling the challenges our service members face every day,” said LaLota. “I am fully committed to ensuring that those who served our great country receive the care and support they’ve earned. By working closely with local leaders and advocates, we can enhance the quality of care for veterans and make sure no one who wore the uniform is left behind.”

    Background:

    The roundtable discussed the following issues:

    • Veteran mental health, including LaLota’s Joseph P. Dwyer Peer Support Program Act;
    • Improving healthcare options for Veterans, including increasing VA access and LaLota’s Liver Fluke Cancer Study Act;
    • Housing for Veterans, including the lack of affordable housing options and the high number of homeless Veterans including LaLota’s Supporting Veteran Families in Need Act;
    • Issues at the Northport VA, including ongoing construction updates and hospital conditions, and
    • State Veterans Homes issues, including the high cost of medications and the need for more specialty care.

    The following individuals took part in LaLota’s Veterans Roundtable:

    • Suffolk County Legislature Majority Leader and Legislator Nick Caracappa, Chairman, Veterans Committee
    • Marcelle Leis, Director, Suffolk County VSA
    • Tom Ronayne, Former Director, Suffolk County VSA
    • Fred Sganga, Director, Long Island State Veterans Home
    • Francis Amalfitano, President & CEO, United Veterans Beacon House
    • Bill Hughes, Commander, Suffolk County VFW, District 11
    • Kenneth Dolan, Legislative Chair, Suffolk County American Legion
    • Mel Cohen, Vietnam Veterans of America
    • Rich Dellasso, Economic Opportunity Council of Suffolk – Veterans Affairs
    • Nancy Tappin, Joseph P. Dwyer Veterans Peer Support Project
    • Joe Cognitore, Commander of the Rocky Point VFW Post 6249
    • Several staff members of the House Veterans Affairs Committee

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    MIL OSI USA News –