NewzIntel.com

Category: Balkans

  • MIL-OSI Global: I research sexual perversions and paraphilias – here’s what we’ve learned about them

    Source: The Conversation – UK – By Mark Griffiths, Director of the International Gaming Research Unit and Professor of Behavioural Addiction, Nottingham Trent University

    Hollywood actor Armie Hammer was accused of sending messages detailing cannibalistic fantasies in 2021. DFree/Shutterstock

    After allegedly sending messages detailing cannibalistic fetishes, Hollywood actor Armie Hammer hopes to relaunch his career with a new podcast and movie.

    Following the 2021 social media cannibal scandal, Hammer was also accused of rape and abuse by various women, but consistently denied any criminal behaviour and was not charged.

    Now, it seems, Hammer is laughing off the cannibalism allegations. Speaking to his first podcast guest, Tom Arnold, Hammer says, “I’m not gonna lie. I’m just like, Hey, I’m a cannibal!”

    But being sexually aroused by the fantasy – or reality – of cannibalism is real. I should know, as it’s one of the subjects I discuss in my latest book Sexual Perversions and Paraphilias: An A-Z

    Paraphilias are uncommon types of sexual expression often described as sexual deviations, sexual perversions or disorders of sexual preference.

    They are typically accompanied by intense sexual arousal to unconventional or non-sexual stimuli such as enemas (klismaphilia), statues (agalmatophilia), teeth (odontophilia) and vomit (emetophilia).

    To many people paraphilias may seem bizarre or socially unacceptable, representing the extreme end of the sexual continuum – and in some cases, such as zoophilia (having sex with animals) and necrophilia (having sex with dead people), may be illegal.

    Paraphilias may be laughed off, dismissed or leave some people disgusted, but there’s a pressing need for more research into uncommon sexual behaviour given how little we know.

    Sexual fantasies and behaviour are a fundamental part of the human experience. What is considered immoral or even illegal changes according to the social and temporal context. But whatever sexual desires are considered illicit or depraved in a particular time and place are also stigmatised.

    Researching paraphilias, even the most distasteful or criminal, is essential to help safeguard vulnerable groups. Research can also help minimise the discrimination faced by those with uncommon sexual interests, helping ensure their access to sexual health care and psychological support, which can be lacking.

    Vorarephilia

    Vorarephilia – or “vore” – refers to being sexually aroused by the idea of being eaten, eating another person or observing this process for sexual gratification.

    Most of the fantasies of vorarephiliacs involve being the ones eaten. Devouring someone could be viewed as the ultimate act of dominance by a predator and the ultimate act of submission by the prey.

    The most infamous vorarephiliac is arguably Armin Meiwes from Germany.

    Meiwes had allegedly been fantasising about cannibalism since his childhood and frequented cannibal fetish websites. He posted around 60 online adverts asking if anyone would like to be eaten by him.

    In March 2002, Bernd Jürgen Brandes responded to Meiwes. They met up only once. Meiwes bit off Brandes’ penis, which the two of them cooked and ate.

    Brandes was videotaped being stabbed to death by Meiwes in his bath. The body was then stored for Meiwes to eat.

    Meiwes was eventually convicted of murder and imprisoned for life. However, it’s worth nothing that although some paraphilias are illegal, most cause no psychological or behavioural problems when they are engaged by consenting adults.

    Dacryphilia

    Dacryphilia is getting sexual arousal from seeing someone cry.

    I have published a number of studies on dacryphilia. One involved interviews with eight dacryphiles: six women and two men, from the US, UK, Romania and Belgium.

    It showed there were sub-types of dacryphilia, even among such a small group. Based on the interviews, I identified three types of dacryphile.

    Compassionate dacryphiles are sexually aroused by the compassion of comforting a crier.

    Dominant or submissive dacryphiles are sexually aroused by either causing tears in a consenting submissive partner or by being made to cry by a consenting dominant partner.

    “Curled lip” dacryphiles are sexually aroused by the curling of a protruded bottom lip during crying.

    Eproctophilia

    Eproctophilia involves being sexually aroused by flatulence.

    In 2013, I published the first case study of an eproctophile. The case concerned a 22-year-old single man, Brad*, an American from Illinois.

    Brad recalled that in middle school he had a crush on a girl who had farted in the class. Brad said:

    This blew my mind [I] knew by simple biology that girls farted, but hearing that the girl I had been fawning over was capable of such a thing sparked a strange interest in me.

    Brad first engaged in an eproctophilic act with a male friend in his mid-teens. Up to that point he had considered himself heterosexual. However, this changed when he heard his male friend fart.

    Brad said it was “appealing in sound” and that he began fixating on it. He set up a bet with the wager being the right to fart in the loser’s face for a week. He continued to lose such bets once every few weeks for about two years.

    Apotemnophilia

    Apotemnophilia refers to being sexually aroused by the fantasy or reality of being an amputee.

    Some apotemnophiles may pretend to be amputees but, for a minority, the behaviour involves obsessive scheming to convince a surgeon to perform a medically unnecessary amputation.

    To most people, this might seem like a type of masochism, but case studies suggest that there is no erotisation of pain – only of the healed amputated stump.

    Salirophilia

    Salirophilia is sexual arousal from soiling or dishevelling someone attractive, which can include tearing or damaging the desired person’s clothing, covering them in mud or filth or messing up their hair or make-up.

    My 2019 case study involved Jeff*, a 58-year-old Australian heterosexual. Jeff recounted that when he was young he wanted to masturbate in strange places such as lying under a cabinet in a dirty garage.

    Jeff said that he engaged in solitary salirophilic practices regularly but very infrequently with female partners because it was difficult to find like-minded women.

    He was also a fan of the television show Fear Factor in which contestants perform revolting tasks for prize money, such as eating rotting food or being submerged in foul fluids. These were a source of sexual arousal for Jeff. He told me: “I just find the defilement of an attractive woman’s body erotic.”

    *The names of case study participants in this article have been changed.

    Dr. Mark Griffiths has received research funding from a wide range of organizations including the Economic and Social Research Council, the British Academy and the Responsibility in Gambling Trust. He has also carried out consultancy for numerous gambling companies in the area of player protection, social responsibility and responsible gaming.. Views expressed here are his own and not those of these funding bodies.

    – ref. I research sexual perversions and paraphilias – here’s what we’ve learned about them – https://theconversation.com/i-research-sexual-perversions-and-paraphilias-heres-what-weve-learned-about-them-238446

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: PM speech to the INTERPOL General Assembly: 4 November 2024

    Source: United Kingdom – Executive Government & Departments

    Prime Minister Keir Starmer makes a speech to the INTERPOL General Assembly in Glasgow.

    Location:
    Glasgow
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    It’s great to welcome you all to Glasgow.

    It was right here, in this conference centre, exactly three years ago that over 190 countries came together at COP26 to agree the Glasgow Climate Pact. 

    That was the first global commitment to phase down the use of coal. And a vital step in the fight against climate change – a challenge that no country can meet on its own.

    So it’s fantastic that once again today, we have over 190 countries here working together to meet another global challenge: the threat of serious organised crime. 

    And it’s particularly fitting to be here in Glasgow: a place that was once home to what many consider to be the first professional City Police Force.

    And a place that is today home to our state-of-the-art Scottish Crime Campus, just down the road in Gartcosh.

    18 different organisations working together, under one roof, co-operating for a common cause. Precisely the kind of co-operation that is so essential to the missions of my government, and the foundation we rest everything upon.

    Greater security for our people. Security rooted in our values, in respect for human rights and upholding the rule of law. 

    Now, I was a prosecutor myself. I served as the Director of Public Prosecutions in England and Wales. Not here in Scotland – we have a complicated set of arrangements across these countries. 

    But what we know from being a country of four nations – what I know having served in that role – having seen the complexity of operations that fight organised crime, first-hand, is that crime is global. 

    Criminals do not respect borders. And so I want to start today by thanking you – all of you here in this conference centre. And the thousands that you represent. Those who serve in police, in intelligence, and security services right across the world. Because too often – what you do goes unrecognised. 

    Some of it necessarily unknown. But just look at some of the operations we can talk about – they tell the story. 

    The UK working with the US and Ecuador to seize 19 tonnes of cocaine. The global identification of over 40,000 victims of child sexual abuse online, and more than 70 countries working together to save them. 

    60 countries working together to tackle online scams, resulting in almost 4,000 arrests, and more than $250 million of assets seized. 

    And of course, the operation which infiltrated and seized the online platform used by LockBit, the world’s most harmful cyber-crime group.

    I know the hard work that goes into this. I know how many things have to come together, almost instantly. And most importantly – I know what would happen without you.

    The extra lives destroyed by drugs and violence. The unspeakable horrors of child sexual abuse. Gangs forcing the vulnerable into modern slavery or prostitution. People having their life savings stolen through online fraud.

    It’s your work, your service, that protects people from these threats. And because so much of your work is done in private, I’m grateful for this opportunity in public to say a huge and heartfelt thank you. 

    Now, of course INTERPOL is absolutely central to these efforts. As I say – I have seen the importance of global co-operation first-hand. I sent British prosecutors in Pakistan so we could work together on counter-terrorism. In West Africa – to disrupt the flow of drugs from South America to Europe, and ultimately to the UK. 

    So I understand the power of what INTERPOL does, and why the UK makes great use of those resources… 

    Handling thousands of enquiries every week from around the world, from intelligence sharing to managing direct threats to life. 

    So I am pleased to say today that the UK is increasing its funding for INTERPOL projects, investing £6 million this financial year.

    This will include support for improved data-sharing, and faster communications capabilities. The first ever Global Fraud Threat Assessment, and new regional networks. From strengthening co-operation across the Pacific to tackling drug and gun smuggling networks in the Caribbean.

    Because together, we want to send a clear message to the world’s most hardened criminals: there is no safe haven. There is no place that you can hide from justice.  Together – we’ve got the whole world covered. And together – we will defeat you.  

    And look – there is a particular group of organised criminals that urgently need to hear this message: the vile people smugglers, who think that human life can be trafficked, that borders can be ignored.

    And that desperation, misery and hope – they prey on that too – are all emotions that are ripe for exploitation. 

    Make no mistake – people smuggling needs a global response. And on a scale – way beyond where we are now. We need to unlock the power of that co-operation – across borders, agencies, continents – even. 

    And look – I know many people in this room are already working hard on this. So I accept that my argument here is a political one, first and foremost. 

    But I’m afraid we’re still at the stage where the world needs to wake up to the severity of this challenge. It goes back to security. 

    I was elected to deliver security for the British people. And strong borders are a part of that – of course they are. But I say it again – security doesn’t stop at our borders.  

    And illegal migration is, without question, a massive driver of global insecurity. There is nothing progressive about turning a blind eye as men, women and children die in the Channel. 

    And you don’t advance the cause of global justice – or compassion for those individuals – to pretend that there is. 

    This is a vile trade that must be stamped out – wherever it thrives. And it exploits the cracks between our institutions, pits nations against one another, profits from our inability – at the political level – to come together. 

    That’s part of the business model. And so I will work with anyone serious who can offer solutions on this – anyone.

    Because without co-ordinated, global action, it will not go away. 

    And unless we bring all the powers we have to bear on this, in much the same way as we do for terrorism, then we will struggle to bring these criminals to justice.  

    And that in a sense is my message here today. People-smuggling should be viewed as a global security threat similar to terrorism.

    We’ve got to combine resources, share intelligence and tactics, and tackle the problem upstream, working together to shut down the smuggling routes.

    We do that with terrorism. When I was the Director of Public Prosecutions, it was my personal mission to smash the terrorist gangs. And we worked across borders to ensure the safety of citizens, across Europe and across the world.  

    Now, as the UK’s Prime Minister, it is my personal mission to smash the people smuggling gangs. And look, that starts here in the UK. 

    This Labour government is resetting the UK’s whole approach to this challenge. No more gimmicks. No more gesture politics. No more irresponsible, undeliverable promises that almost by design – seek conflict with other countries.  

    We have turned the page on all of that. Because such promises are not worth the paper they are written on. All they do is waste taxpayer money, destroy people’s trust in politics as a force for good.

    Instead, we are approaching this issue with humanity, and with profound respect for international law.

    We will never withdraw from the European Convention on Human Rights. Indeed, we’re proud of the role the UK played in creating that Convention. Respecting international treaties also makes international co-operation easier, because it shows that the UK is a reliable partner.

    So our approach is different. As I say – we’re going to treat people smugglers like terrorists. So we’re taking our approach to counter-terrorism – which we know works – and applying it to the gangs, with our new Border Security Command.

    We’re ending the fragmentation between policing, Border Force and our intelligence agencies. Recruiting hundreds of specialist investigators. They are best of the best – from our National Crime Agency, Border Force, Immigration Enforcement, the CPS and our intelligence agencies – all working together. 

    We’re making border protection an elite border force. And not just within our country. We’re also working together with international partners, sharing intelligence and tactics.

    Earlier this year I visited the Headquarters of our National Crime Agency. I saw first-hand the ways we are already collaborating, and what it takes to intercept, to disrupt, and destroy these networks. There are so many tools at our disposal.

    We can seize their phones at the border, identifying and tracing smugglers wiring payments. We’ve already trained sniffer dogs to detect the smell of dinghy rubber and working with Bulgaria stopped more than 100 small boats upstream, long before they made it to the Channel. 

    And as we understand how these gangs work, we can invest in new capabilities and enhanced powers to smash them.

    So we’re giving our new Border Security Command an additional £75 million of new funding on top of the of £75 million we’ve already committed.

    This will support a new Organised Immigration Crime Intelligence Unit, hundreds of new investigators and intelligence officers, backed by state-of-the-art technology.

    We’re also investing a further £58 million in our National Crime Agency, including strengthening its data analysis and intelligence capabilities.

    And we’ll also legislate to give those fighting these gangs enhanced powers too. Again, look what we’ve done with counter-terrorism. We have the powers to trace suspects’ movements using information from the intelligence services.

    We can shut down their bank accounts, cut off their internet access, and arrest them for making preparations to act, before an attack has taken place.

    We don’t wait for them to act – we stop them before they act. And we need to stop people smuggling gangs before they act too.

    Now, as with any crime – smuggling does not operate in an institutional vacuum, so we also need to rebuild our broken asylum system, process claims swiftly and humanely.

    That will make law enforcement’s job much easier.  So we’re recruiting hundreds of additional people into asylum case working.

    Overall returns since this government came to office are now 9,400 – up almost 6,000 since the end of August. 

    Enforced returns are up almost a fifth on the same period last year. And returns of Foreign National Offenders are up 14 per cent.

    But look, the only way to defeat this vile trade and save lives is to stop people being smuggled here in the first place.

    And that means doing everything possible to deepen our cross-border co-operation. So international agreements matter.

    We have to use every tool we have – operational, diplomatic, political – to join up our response.

    President Macron and I have already agreed to increase intelligence sharing and do more to dismantle smuggling routes further upstream. This is also a priority for the bi-lateral co-operation treaty we are working on with Germany. 

    We’re also working with Italy to dismantle the supply chains of maritime equipment, combat illicit financial flows, and strengthen our investigative capacities and our data sharing. And as part of the UK’s wider reset with the European Union, we are seeking a new security pact, including restoring access to real-time intelligence sharing networks. And at the European Political Community this Thursday in Hungary, I’ll be putting this issue at the top of the international agenda once again. 

    But we need your help also.  This is the General Assembly of the world’s security experts. It’s your co-operation across borders that saves lives, time and again. It’s your collective efforts that bring organised criminals to justice, wherever they seek to hide.

    And it’s your leadership today that can help make a decisive breakthrough against this vile trade in human life. 

    Because if together we can win this war against the people smugglers, then this gathering will have achieved a victory for humanity – every bit as significant as the Glasgow Climate Pact.

    Because you will have helped to smash the gangs, secure our borders, and save countless lives.  And it is with that hope, and in that spirit, that I declare the 92nd General Assembly open. 

    Thank you so much.

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Speech: PM speech to the INTERPOL General Assembly: 4 November 2024

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    Prime Minister Keir Starmer makes a speech to the INTERPOL General Assembly in Glasgow.

    Location:
    Glasgow
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    It’s great to welcome you all to Glasgow.

    It was right here, in this conference centre, exactly three years ago that over 190 countries came together at COP26 to agree the Glasgow Climate Pact. 

    That was the first global commitment to phase down the use of coal. And a vital step in the fight against climate change – a challenge that no country can meet on its own.

    So it’s fantastic that once again today, we have over 190 countries here working together to meet another global challenge: the threat of serious organised crime. 

    And it’s particularly fitting to be here in Glasgow: a place that was once home to what many consider to be the first professional City Police Force.

    And a place that is today home to our state-of-the-art Scottish Crime Campus, just down the road in Gartcosh.

    18 different organisations working together, under one roof, co-operating for a common cause. Precisely the kind of co-operation that is so essential to the missions of my government, and the foundation we rest everything upon.

    Greater security for our people. Security rooted in our values, in respect for human rights and upholding the rule of law. 

    Now, I was a prosecutor myself. I served as the Director of Public Prosecutions in England and Wales. Not here in Scotland – we have a complicated set of arrangements across these countries. 

    But what we know from being a country of four nations – what I know having served in that role – having seen the complexity of operations that fight organised crime, first-hand, is that crime is global. 

    Criminals do not respect borders. And so I want to start today by thanking you – all of you here in this conference centre. And the thousands that you represent. Those who serve in police, in intelligence, and security services right across the world. Because too often – what you do goes unrecognised. 

    Some of it necessarily unknown. But just look at some of the operations we can talk about – they tell the story. 

    The UK working with the US and Ecuador to seize 19 tonnes of cocaine. The global identification of over 40,000 victims of child sexual abuse online, and more than 70 countries working together to save them. 

    60 countries working together to tackle online scams, resulting in almost 4,000 arrests, and more than $250 million of assets seized. 

    And of course, the operation which infiltrated and seized the online platform used by LockBit, the world’s most harmful cyber-crime group.

    I know the hard work that goes into this. I know how many things have to come together, almost instantly. And most importantly – I know what would happen without you.

    The extra lives destroyed by drugs and violence. The unspeakable horrors of child sexual abuse. Gangs forcing the vulnerable into modern slavery or prostitution. People having their life savings stolen through online fraud.

    It’s your work, your service, that protects people from these threats. And because so much of your work is done in private, I’m grateful for this opportunity in public to say a huge and heartfelt thank you. 

    Now, of course INTERPOL is absolutely central to these efforts. As I say – I have seen the importance of global co-operation first-hand. I sent British prosecutors in Pakistan so we could work together on counter-terrorism. In West Africa – to disrupt the flow of drugs from South America to Europe, and ultimately to the UK. 

    So I understand the power of what INTERPOL does, and why the UK makes great use of those resources… 

    Handling thousands of enquiries every week from around the world, from intelligence sharing to managing direct threats to life. 

    So I am pleased to say today that the UK is increasing its funding for INTERPOL projects, investing £6 million this financial year.

    This will include support for improved data-sharing, and faster communications capabilities. The first ever Global Fraud Threat Assessment, and new regional networks. From strengthening co-operation across the Pacific to tackling drug and gun smuggling networks in the Caribbean.

    Because together, we want to send a clear message to the world’s most hardened criminals: there is no safe haven. There is no place that you can hide from justice.  Together – we’ve got the whole world covered. And together – we will defeat you.  

    And look – there is a particular group of organised criminals that urgently need to hear this message: the vile people smugglers, who think that human life can be trafficked, that borders can be ignored.

    And that desperation, misery and hope – they prey on that too – are all emotions that are ripe for exploitation. 

    Make no mistake – people smuggling needs a global response. And on a scale – way beyond where we are now. We need to unlock the power of that co-operation – across borders, agencies, continents – even. 

    And look – I know many people in this room are already working hard on this. So I accept that my argument here is a political one, first and foremost. 

    But I’m afraid we’re still at the stage where the world needs to wake up to the severity of this challenge. It goes back to security. 

    I was elected to deliver security for the British people. And strong borders are a part of that – of course they are. But I say it again – security doesn’t stop at our borders.  

    And illegal migration is, without question, a massive driver of global insecurity. There is nothing progressive about turning a blind eye as men, women and children die in the Channel. 

    And you don’t advance the cause of global justice – or compassion for those individuals – to pretend that there is. 

    This is a vile trade that must be stamped out – wherever it thrives. And it exploits the cracks between our institutions, pits nations against one another, profits from our inability – at the political level – to come together. 

    That’s part of the business model. And so I will work with anyone serious who can offer solutions on this – anyone.

    Because without co-ordinated, global action, it will not go away. 

    And unless we bring all the powers we have to bear on this, in much the same way as we do for terrorism, then we will struggle to bring these criminals to justice.  

    And that in a sense is my message here today. People-smuggling should be viewed as a global security threat similar to terrorism.

    We’ve got to combine resources, share intelligence and tactics, and tackle the problem upstream, working together to shut down the smuggling routes.

    We do that with terrorism. When I was the Director of Public Prosecutions, it was my personal mission to smash the terrorist gangs. And we worked across borders to ensure the safety of citizens, across Europe and across the world.  

    Now, as the UK’s Prime Minister, it is my personal mission to smash the people smuggling gangs. And look, that starts here in the UK. 

    This Labour government is resetting the UK’s whole approach to this challenge. No more gimmicks. No more gesture politics. No more irresponsible, undeliverable promises that almost by design – seek conflict with other countries.  

    We have turned the page on all of that. Because such promises are not worth the paper they are written on. All they do is waste taxpayer money, destroy people’s trust in politics as a force for good.

    Instead, we are approaching this issue with humanity, and with profound respect for international law.

    We will never withdraw from the European Convention on Human Rights. Indeed, we’re proud of the role the UK played in creating that Convention. Respecting international treaties also makes international co-operation easier, because it shows that the UK is a reliable partner.

    So our approach is different. As I say – we’re going to treat people smugglers like terrorists. So we’re taking our approach to counter-terrorism – which we know works – and applying it to the gangs, with our new Border Security Command.

    We’re ending the fragmentation between policing, Border Force and our intelligence agencies. Recruiting hundreds of specialist investigators. They are best of the best – from our National Crime Agency, Border Force, Immigration Enforcement, the CPS and our intelligence agencies – all working together. 

    We’re making border protection an elite border force. And not just within our country. We’re also working together with international partners, sharing intelligence and tactics.

    Earlier this year I visited the Headquarters of our National Crime Agency. I saw first-hand the ways we are already collaborating, and what it takes to intercept, to disrupt, and destroy these networks. There are so many tools at our disposal.

    We can seize their phones at the border, identifying and tracing smugglers wiring payments. We’ve already trained sniffer dogs to detect the smell of dinghy rubber and working with Bulgaria stopped more than 100 small boats upstream, long before they made it to the Channel. 

    And as we understand how these gangs work, we can invest in new capabilities and enhanced powers to smash them.

    So we’re giving our new Border Security Command an additional £75 million of new funding on top of the of £75 million we’ve already committed.

    This will support a new Organised Immigration Crime Intelligence Unit, hundreds of new investigators and intelligence officers, backed by state-of-the-art technology.

    We’re also investing a further £58 million in our National Crime Agency, including strengthening its data analysis and intelligence capabilities.

    And we’ll also legislate to give those fighting these gangs enhanced powers too. Again, look what we’ve done with counter-terrorism. We have the powers to trace suspects’ movements using information from the intelligence services.

    We can shut down their bank accounts, cut off their internet access, and arrest them for making preparations to act, before an attack has taken place.

    We don’t wait for them to act – we stop them before they act. And we need to stop people smuggling gangs before they act too.

    Now, as with any crime – smuggling does not operate in an institutional vacuum, so we also need to rebuild our broken asylum system, process claims swiftly and humanely.

    That will make law enforcement’s job much easier.  So we’re recruiting hundreds of additional people into asylum case working.

    Overall returns since this government came to office are now 9,400 – up almost 6,000 since the end of August. 

    Enforced returns are up almost a fifth on the same period last year. And returns of Foreign National Offenders are up 14 per cent.

    But look, the only way to defeat this vile trade and save lives is to stop people being smuggled here in the first place.

    And that means doing everything possible to deepen our cross-border co-operation. So international agreements matter.

    We have to use every tool we have – operational, diplomatic, political – to join up our response.

    President Macron and I have already agreed to increase intelligence sharing and do more to dismantle smuggling routes further upstream. This is also a priority for the bi-lateral co-operation treaty we are working on with Germany. 

    We’re also working with Italy to dismantle the supply chains of maritime equipment, combat illicit financial flows, and strengthen our investigative capacities and our data sharing. And as part of the UK’s wider reset with the European Union, we are seeking a new security pact, including restoring access to real-time intelligence sharing networks. And at the European Political Community this Thursday in Hungary, I’ll be putting this issue at the top of the international agenda once again. 

    But we need your help also.  This is the General Assembly of the world’s security experts. It’s your co-operation across borders that saves lives, time and again. It’s your collective efforts that bring organised criminals to justice, wherever they seek to hide.

    And it’s your leadership today that can help make a decisive breakthrough against this vile trade in human life. 

    Because if together we can win this war against the people smugglers, then this gathering will have achieved a victory for humanity – every bit as significant as the Glasgow Climate Pact.

    Because you will have helped to smash the gangs, secure our borders, and save countless lives.  And it is with that hope, and in that spirit, that I declare the 92nd General Assembly open. 

    Thank you so much.

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Thales: Launch of the 2024 Employee Share Ownership Plan

    Source: Thales Group

    Headline: Thales: Launch of the 2024
    Employee Share Ownership Plan

    Thales (Euronext Paris: HO) announces the launch of its 2024 employee share ownership plan, running from Monday 4 November to Friday 24 November 2024. This offer is available to Thales employees across 36 countries who are participants in the Group Savings Plan and have at least three months of seniority as of 24 November 24 2024, as well as to the company’s retirees. ​

    The plan offers a 20% discount on the Thales share price, along with a 50% matching contribution on personal investment up to a maximum of €500, funded by Thales. ​

    The objective of this plan is to strengthen the bond between Thales and its employees by providing them with the opportunity to become more closely associated with the Group’s goals, performance, and future successes.

    Terms of the 2024 Employee Share Ownership Plan

    This share offer is available to employees in France, South Africa, Germany, Saudi Arabia, Australia, Belgium, Brazil, Canada, China, Colombia, Denmark, Egypt, United Arab Emirates, Spain, the United States, Finland, Hong Kong, India, Israel, Italy, Japan, Luxembourg, Mexico, Norway, the Netherlands, the Philippines, Poland, Portugal, Qatar, Czech Republic, Romania, Singapore, Sweden, Switzerland, and Turkey who are eligible and participate in the Group Savings Plan. ​

    In the United Kingdom, Thales shares will be offered through a Share Incentive Plan (SIP).

    Offered Shares ​

    The Thales share offer to Group employees will be conducted through the transfer of existing treasury shares previously repurchased by Thales under a share buyback programme authorised by the shareholders’ general meeting in accordance with Article L. 22-10-62 of the French Commercial Code. The transfer of shares to employees and retirees participating in the Group Savings Plan will be carried out under the provisions of Articles L. 3332-18 and following of the French Labour Code, except for the offer in the United Kingdom, where it will be conducted under an SIP. ​

    On 3 April 2024, the Board of Directors decided to implement this employee share ownership plan and delegated the necessary powers to the Chairman and CEO for its execution. In line with the Board’s decision, the offer will cover a maximum of 600,000 shares, with a cost cap of €31 million (including the discount and matching contributions in the employee share ownership plan and SIP matching contributions).

    The Chairman and CEO, by delegation from the Board of Directors, set the subscription period dates and acquisition price by decision on 28 October 2024. The acquisition price is set at 80% of the reference price. ​

    The reference price, noted by the Chairman and CEO on 28 October 2024, is the average of Thales’s opening share prices on the Euronext Paris market over the twenty (20) trading days preceding this date, amounting to €149.61. Accordingly, the acquisition price for employees is €119.69. For the offer in the United Kingdom, the acquisition price will be determined in accordance with the applicable SIP rules. ​

    The shares acquired by offer participants, being existing ordinary shares, are fully assimilated with the existing ordinary shares that make up Thales’s share capital. ​

    Offer Conditions

    • Eligible Offer Participants: The offer is open to employees of the included companies who are part of the Group Savings Plan, regardless of their employment contract (permanent or fixed-term, full-time or part-time) and with a minimum of three months’ seniority. Retirees and early retirees from Thales’s French companies who joined the Group Savings Plan prior to their departure are also eligible, provided they have maintained holdings in the Group Savings Plan since retirement or early retirement. ​
    • Included Companies:
      • Thales, with share capital of €617 825 739, headquartered at 4 rue de la Verrerie, 92190 Meudon, France, and ​
      • Thales Group companies in which Thales holds, directly or indirectly, more than 50% of the share capital, with headquarters in France, South Africa, Germany, Saudi Arabia, Australia, Belgium, Brazil, Canada, China, Colombia, Denmark, Egypt, United Arab Emirates, Spain, the United States, Finland, Hong Kong, India, Israel, Italy, Japan, Luxembourg, Mexico, Norway, the Netherlands, the Philippines, Poland, Portugal, Qatar, Czech Republic, Romania, Singapore, Sweden, Switzerland, and Turkey, who are (or will be) participants in the Group Savings Plan.
    • Participation Methods: Shares will be acquired through employee mutual funds (FCPE) or directly, depending on the country, and via a Trust within the SIP framework. ​
    • Share Purchase Formula: Employees may acquire Thales shares through a classic subscription formula. Employees will receive a 50% matching contribution from their employer on their subscription amount, capped at a maximum contribution of €500. ​
    • Voting Rights: Voting rights attached to the shares will be exercised by the FCPE supervisory board in FCPE countries, and directly by employees in countries where shares are held directly.
    • Subscription Cap: Annual contributions by offer beneficiaries to the Group Savings Plan may not exceed a quarter of their gross annual salary, in accordance with Article L.3332-10 of the French Labour Code. ​
    • Share Retention Requirement: Employees participating in the offer must retain their corresponding FCPE shares or directly held shares for five years, except in cases of early release as defined by Article R. 3334-22 of the French Labour Code or local regulations. For shares acquired through the SIP in the United Kingdom, the retention conditions differ depending on the share type (partnership or matching shares).

    Indicative Operation Timeline ​

    • Subscription Period: From 4 November 2024 (inclusive) to 24 November 2024 (inclusive). ​
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    Listing ​

    Thales shares are listed on the Euronext Paris market (ISIN Code: FR0000121329).

    This press release has been prepared in accordance with the exemption from publication of a prospectus provided for in Article 1.4(i) of Prospectus Regulation 2017/1129.

    International Notice

    This release does not constitute a sales offer or a solicitation to acquire Thales shares. The Thales employee share offer will be conducted only in countries where such an offer has been registered or notified to the relevant local authorities and/or approved by a local authority prospectus, or where an exemption applies regarding the need for a prospectus or offer registration or notification. ​

    More generally, the offer will only take place in countries where all required registration procedures and notifications have been completed, and necessary authorisations obtained. For residents of Israel, the offer is conducted in accordance with the Information Document available on the website dedicated to the offer.

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies specialized in three business domains: Defence & Security, Aeronautics & Space, and Cybersecurity & Digital identity.

    It develops products and solutions that help make the world safer, greener and more inclusive.

    The Group invests close to €4 billion a year in Research & Development, particularly in key innovation areas such as AI, cybersecurity, quantum technologies, cloud technologies and 6G.

    Thales has close to 81,000 employees in 68 countries. In 2023, the Group generated sales of €18.4 billion.

    MIL OSI Economics –

  • MIL-OSI Global: I research sexual perversions and paraphilas – here’s what we’ve learned about them

    Source: The Conversation – UK – By Mark Griffiths, Director of the International Gaming Research Unit and Professor of Behavioural Addiction, Nottingham Trent University

    Hollywood actor Armie Hammer was accused of sending messages detailing cannibalistic fantasies in 2021. DFree/Shutterstock

    After allegedly sending messages detailing cannibalistic fetishes, Hollywood actor Armie Hammer hopes to relaunch his career with a new podcast and movie.

    Following the 2021 social media cannibal scandal, Hammer was also accused of rape and abuse by various women, but consistently denied any criminal behaviour and was not charged.

    Now, it seems, Hammer is laughing off the cannibalism allegations. Speaking to his first podcast guest, Tom Arnold, Hammer says, “I’m not gonna lie. I’m just like, Hey, I’m a cannibal!”

    But being sexually aroused by the fantasy – or reality – of cannibalism is real. I should know, as it’s one of the subjects I discuss in my latest book Sexual Perversions and Paraphilias: An A-Z

    Paraphilias are uncommon types of sexual expression often described as sexual deviations, sexual perversions or disorders of sexual preference.

    They are typically accompanied by intense sexual arousal to unconventional or non-sexual stimuli such as enemas (klismaphilia), statues (agalmatophilia), teeth (odontophilia) and vomit (emetophilia).

    To many people paraphilias may seem bizarre or socially unacceptable, representing the extreme end of the sexual continuum – and in some cases, such as zoophilia (having sex with animals) and necrophilia (having sex with dead people), may be illegal.

    Paraphilias may be laughed off, dismissed or leave some people disgusted, but there’s a pressing need for more research into uncommon sexual behaviour given how little we know.

    Sexual fantasies and behaviour are a fundamental part of the human experience. What is considered immoral or even illegal changes according to the social and temporal context. But whatever sexual desires are considered illicit or depraved in a particular time and place are also stigmatised.

    Researching paraphilias, even the most distasteful or criminal, is essential to help safeguard vulnerable groups. Research can also help minimise the discrimination faced by those with uncommon sexual interests, helping ensure their access to sexual health care and psychological support, which can be lacking.

    Vorarephilia

    Vorarephilia – or “vore” – refers to being sexually aroused by the idea of being eaten, eating another person or observing this process for sexual gratification.

    Most of the fantasies of vorarephiliacs involve being the ones eaten. Devouring someone could be viewed as the ultimate act of dominance by a predator and the ultimate act of submission by the prey.

    The most infamous vorarephiliac is arguably Armin Meiwes from Germany.

    Meiwes had allegedly been fantasising about cannibalism since his childhood and frequented cannibal fetish websites. He posted around 60 online adverts asking if anyone would like to be eaten by him.

    In March 2002, Bernd Jürgen Brandes responded to Meiwes. They met up only once. Meiwes bit off Brandes’ penis, which the two of them cooked and ate.

    Brandes was videotaped being stabbed to death by Meiwes in his bath. The body was then stored for Meiwes to eat.

    Meiwes was eventually convicted of murder and imprisoned for life. However, it’s worth nothing that although some paraphilias are illegal, most cause no psychological or behavioural problems when they are engaged by consenting adults.

    Dacryphilia

    Dacryphilia is getting sexual arousal from seeing someone cry.

    I have published a number of studies on dacryphilia. One involved interviews with eight dacryphiles: six women and two men, from the US, UK, Romania and Belgium.

    It showed there were sub-types of dacryphilia, even among such a small group. Based on the interviews, I identified three types of dacryphile.

    Compassionate dacryphiles are sexually aroused by the compassion of comforting a crier.

    Dominant or submissive dacryphiles are sexually aroused by either causing tears in a consenting submissive partner or by being made to cry by a consenting dominant partner.

    “Curled lip” dacryphiles are sexually aroused by the curling of a protruded bottom lip during crying.

    Eproctophilia

    Eproctophilia involves being sexually aroused by flatulence.

    In 2013, I published the first case study of an eproctophile. The case concerned a 22-year-old single man, Brad*, an American from Illinois.

    Brad recalled that in middle school he had a crush on a girl who had farted in the class. Brad said:

    This blew my mind [I] knew by simple biology that girls farted, but hearing that the girl I had been fawning over was capable of such a thing sparked a strange interest in me.

    Brad first engaged in an eproctophilic act with a male friend in his mid-teens. Up to that point he had considered himself heterosexual. However, this changed when he heard his male friend fart.

    Brad said it was “appealing in sound” and that he began fixating on it. He set up a bet with the wager being the right to fart in the loser’s face for a week. He continued to lose such bets once every few weeks for about two years.

    Apotemnophilia

    Apotemnophilia refers to being sexually aroused by the fantasy or reality of being an amputee.

    Some apotemnophiles may pretend to be amputees but, for a minority, the behaviour involves obsessive scheming to convince a surgeon to perform a medically unnecessary amputation.

    To most people, this might seem like a type of masochism, but case studies suggest that there is no erotisation of pain – only of the healed amputated stump.

    Salirophilia

    Salirophilia is sexual arousal from soiling or dishevelling someone attractive, which can include tearing or damaging the desired person’s clothing, covering them in mud or filth or messing up their hair or make-up.

    My 2019 case study involved Jeff*, a 58-year-old Australian heterosexual. Jeff recounted that when he was young he wanted to masturbate in strange places such as lying under a cabinet in a dirty garage.

    Jeff said that he engaged in solitary salirophilic practices regularly but very infrequently with female partners because it was difficult to find like-minded women.

    He was also a fan of the television show Fear Factor in which contestants perform revolting tasks for prize money, such as eating rotting food or being submerged in foul fluids. These were a source of sexual arousal for Jeff. He told me: “I just find the defilement of an attractive woman’s body erotic.”

    *The names of case study participants in this article have been changed.

    Dr. Mark Griffiths has received research funding from a wide range of organizations including the Economic and Social Research Council, the British Academy and the Responsibility in Gambling Trust. He has also carried out consultancy for numerous gambling companies in the area of player protection, social responsibility and responsible gaming.. Views expressed here are his own and not those of these funding bodies.

    – ref. I research sexual perversions and paraphilas – here’s what we’ve learned about them – https://theconversation.com/i-research-sexual-perversions-and-paraphilas-heres-what-weve-learned-about-them-238446

    MIL OSI – Global Reports –

  • MIL-Evening Report: ‘Genocide as colonial erasure – UN expert Francesca Albanese on Israel’s ‘intent to destroy’ Gaza

    Democracy Now!

    NERMEEN SHAIKH: Israel’s deadly siege on northern Gaza has entered a 30th day. Early week, the World Health Organisation managed to deliver some medical supplies to the Kamal Adwan Hospital, but on Thursday, Israeli fighter jets bombed the hospital’s third floor, where the supplies were being stored.

    Al Jazeera reports Israeli forces are continuing to shell Beit Lahia, the scene of multiple massacres last week. On Wednesday, an Israeli attack on a market in Beit Lahia killed at least 10 Palestinians. Earlier in the week, Israel struck a five-story residential building, killing at least 93 people, including 25 children.

    Meanwhile, at the United Nations, the UN Special Rapporteur on the Occupied Palestinian Territory, Francesca Albanese, has released a major report accusing Israel of committing genocide.

    Albanese concludes that Israel’s war on Gaza is part of a campaign of, “long-term intentional, systematic, state-organised forced displacement and replacement of the Palestinians” . The report is titled Genocide as Colonial Erasure.

    AMY GOODMAN: Francesca Albanese is now facing intensifying personal attacks from Israeli and US officials. She was set to brief Congress earlier last week, but the briefing was cancelled. On Tuesday, the US Ambassador to the United Nations, Linda Thomas-Greenfield, wrote on social media, “As UN Special Rapporteur Albanese visits New York, I want to reiterate the US belief she is unfit for her role. The United Nations should not tolerate antisemitism from a UN-affiliated official hired to promote human rights.”

    On Wednesday, Francesca Albanese spoke at the United Nations and responded to the US attacks.

    FRANCESCA ALBANESE: I have the same shock that you have, looking at how the United States is behaving in this context, in the context of the genocide that is unfolding in Gaza. I’m not — I’m not surprised that they attack anyone who speaks to the facts that are, frankly, on our watch in Gaza. And they do that so brutally because they feel called out, because it’s not that it’s that the United States is simply an observer. The United States is being an enabler in what Israel has been doing.

    AMY GOODMAN: That was UN Special Rapporteur Francesca Albanese speaking at the United Nations on Wednesday. She joins us here in our studio.

    Welcome back to Democracy Now! Thanks so much for joining us.

    Well, before we get you to further respond to what the US and Israel is saying, can you lay out the findings of your report?


    Colonial Erasure’: UN expert Francesca Albanese on Israel’s “intent to destroy” Gaza Video: Democracy Now!

    FRANCESCA ALBANESE: Absolutely. First of all, thank you for having me.

    I have to say that this report is the second I write on — and I present to the United Nations on the topic of genocide. And it has been very reluctantly that I’ve taken on the responsibility to be the chronicler of — the chronicler of an unfolding genocide in Gaza.

    In March this year, I concluded that there were reasonable grounds to believe that Israel had committed at least three acts of genocide in Gaza, like killing members of the protected group, Palestinians; inflicting severe bodily and mental harm; and creating conditions of life that would lead to the destruction of the group. And the reason why I identified these were not just war crimes and crimes against humanity is because I identified an intent to destroy.

    And I understand that even in this country, people are quite confused about what is genocidal intent, because it’s not a motive. One can have many motives to commit a crime. And I understand genocide is a very insidious one, and it’s difficult to identify what’s a motive. But this is not about the motives. The intent to commit genocide is the determination to destroy, which is fully evident in — especially in the Gaza Strip, as I identified in — as argued in March already.

    The reason why I continue to write about genocide — and, in fact, this report walks on the heels of the previous one — is in order to better explain the intent, especially state intent, because there is another misunderstanding that there should be a trial of the alleged perpetrators in order to have — to attribute responsibility to a state.

    No, because not only you have had acts committed that should have been prevented by the — in a rule of law, in a proclaimed rule of law system like Israel, where there is the government, the Parliament, the judiciary, working as checks and balances, genocide has not only been not prevented, [it] has been enabled through the various organs of the state.

    And I explain what has happened as of October 7, which has provided the opportunity to escalate violence, to build on the rage and on the fury of many Israelis, turning the soldiers into willful executioners, is that there was already a plan, hatred.

    I mean, the Palestinians, like Ilan Pappé says, are victims not of war, but of a political ideology that has been unleashed. Palestinians have always been an unwanted encumbrance in the Israeli mindset, because they are an obstacle both as an identity and as legal status to the realisation of Greater Israel as a state for Jewish Israelis only.

    NERMEEN SHAIKH: So, we’ll go back to — because I do want to ask about the Israeli state institutions that you name and the branches of the Israeli state that have been involved in forming this state’s intent. But if you could elaborate on the point that you make, the difference between intent and motive, and in particular what you say in the report about how it’s critical to determine genocidal intent, “by way of inference”?

    You know, that’s a different phrasing than one has heard in all of this conversation about genocide so far. If you explain what you mean by that and what such a determination makes possible? So, rather than just looking at genocidal intent in other forms, what it means to infer genocidal intent?

    FRANCESCA ALBANESE: So, first of all, what constitutes genocide is established by Article II of the Genocide Convention, which creates a twofold obligation for member states, to prevent genocide so genocide doesn’t have to complete itself. When there is a manifestation of intent, even genocidal intent, there is already an obligation to intervene, because a crime is unfolding.

    And then there is an obligation to punish. How the jurisprudence, especially after Rwanda and after former Yugoslavia, there have been cases both for criminal proceedings, where individual perpetrators have been investigated and tried, and [the] responsibility of the state, litigated before the International Court of Justice. This is how the jurisprudence on genocide has developed.

    And the intent has been further elaborated upon what the Genocide Convention says. And while it might be difficult to have direct intent, meaning to have — it’s difficult but not impossible, in fact, to have a state official say, “Yes, let’s go and destroy everyone” — although I do believe that there is direct intent in this genocide in Gaza.

    But the court also established that genocide can be inferred from the scale of the attack on the people, the nature of the attack, the general conduct. And what it says is that normally there should be a holistic approach in order to identify intent, which is exactly what I’ve done.

    And indeed, this is why I proposed in this report what I called the triple lens approach. We need to look at the conduct, like the totality of the conduct, instead of studying with a microscope each and every crime. We need to look at the whole, against the totality of the people, the Palestinians as such, in the totality of the land, that Israel has slated as its own by divine design.

    NERMEEN SHAIKH: No, absolutely. And then, if you could — the other precedent you’ve just spoken about — of course, Rwanda and former Yugoslavia — another case that you cite in the International Court of Justice is The Gambia v. Myanmar. So, how is that comparable to what we see happening in Gaza? Why is that a relevant example and different from both Rwanda and former Yugoslavia?

    FRANCESCA ALBANESE: Let me tell you what I see as the major differences in the case of Israel, because it’s a very complex discussion. But in all four cases, there is a toxic combination of hatred, ideological hatred, which has informed political doctrines. And this is true in all the various contexts we are mentioning. The other common element is that there is [a] combination of crimes. Like, forced displacement is not an act of genocide per se, but the jurisprudence says that it can contribute to corroborate the intent.

    But, again, mass killing or mass destruction of property, torture and other crimes against a person, which translate into an infliction of physical and mental harm to the group, not individuals as such, but individuals as part of the group, these are common elements to all genocides.

    What I find characteristic in this one is, first of all, this is not — I mean, the state of Israel is not Myanmar and is not Rwanda 30 years ago. This is not war-torn former Yugoslavia. This is a state which has a separation of powers, different organs, as I said, checks and balances. And let me give you a specific example, because you asked me to comment on the state functions.

    In January this year, the International Court of Justice issued a set of preliminary measures in the context of its identification, before even looking at the merits of the case initiated by South Africa for Israel’s breach, alleged breach, of the Genocide Convention, which identified the plausibility of risk for the rights protected — of the rights of the Palestinians protected under the Genocide Convention, which means plausibility — it’s semantics, but it’s plausibility that genocide might be committed against the Palestinians in Gaza.

    And the provisional measures included an obligation to investigate and prosecute the various cases of incitement, genocidal incitement, that the court had already identified. And it mentions leaders, senior leaders, of the Israeli state. Has there been any investigation? Has there been any prosecution?

    But I’m telling you more. The genocidal statements didn’t resonate as shocking in the Israeli public, not only because there was rage, an enormous rage and animosity, of course. I mean, this is understandable, that the facts of October 7 were brutal and traumatized the people.

    But at the same time, hatred against the Palestinians and hate speech, it’s not something that started on October 7. I do remember, and I do remember the shock I felt because no one was reacting, and years ago, there were Israeli ministers talking of — freely, of killing, justifying the killing of Palestinians’ mothers and children because they would turn into terrorists.

    AMY GOODMAN: Francesca Albanese, talk about the title of your report, Genocide as Colonial Erasure.

    FRANCESCA ALBANESE: This is another element which I think — and, in fact, it’s the most important, where we see the difference between this genocide and others, because there is a settler-colonial component. And again, if you look at what the International Court of Justice in July this year concluded, when it decided that the — when it found that Israel’s 57 years of occupation in Gaza, the West Bank and East Jerusalem is unlawful and needs to be withdrawn totally and unconditionally, as rapidly as possibly, which the General Assembly says by September 2025.

    The court said that it amounts to — that the colonies amount to — have led to a process of annexation and racial segregation and apartheid. And these are the features of settler colonialism, the taking of the land, the taking of the resources, displacing the local population and replacing it. This has been a feature.

    Now, it is in this context that we need to analyse what is happening today. And by the way, don’t believe, don’t listen only to Francesca Albanese. Listen to what these Israeli leaders and ministers are saying — reoccupying Gaza, retaking Gaza, recolonising Gaza, reconquesting Gaza. This is what they are saying.

    And there are settlers on expeditions, not only to Gaza but also to Lebanon. So, this is why I say that the main difference, the main feature of this genocide, apart all the horrible aspects of it, is that this is the first settler-colonial genocide to be ever litigated before a court, an international court.

    And this is why coming to this country, which is a country birthed from a genocide, when I meet the Native Americans, for example, I feel the pain of these people. And I say if we manage to build on the intersectionality of Indigenous struggle, the cry for justice behind this case for Palestine will resonate even louder, because it will somewhat be an act of atonement from the settler-colonial endeavor, which has sprouted out of Europe, toward Indigenous peoples. So there is a lot of symbolism behind it.

    NERMEEN SHAIKH: And, you know, the analogy — first of all, you talked about the case brought by South Africa, so what they share, apart from South Africa and Israel-Palestine, is both the fact that they were colonial-settler states, as well as the fact that apartheid has been established as having occurred in both places.

    Now, in the case of South Africa, it was a decision that was taken by the United Nations at the time of apartheid, was unseating South Africa from the General Assembly. There have been calls now to do the same with Israel. So, if you could — if you could comment on that?

    And then, I just want to quote another short sentence from your report, in which you say, “As the world watches the first live-streamed settler-colonial genocide, only justice can heal the wounds that political expedience has allowed to fester.” So, if you could talk about the International Court of Justice’s case in that context, what role you think they can play, South Africa’s case, in resolving or addressing — seeing and addressing this wound?

    FRANCESCA ALBANESE: First of all, let me unpack the question of the unseating Israel, because this is one of the recommendations I made in my report. Under Article 6 of the UN Charter, a member state can be suspended of its credentials or its membership by the General Assembly upon recommendation of the UN Security Council. And the first criticism I got is that we cannot do that, because every states commit international law violations. Absolutely. Absolutely.

    But there are two striking features here. First, Israel is quite unique in maintaining an unlawful occupation, which has deemed such by — in at least one full occasion, but again, there was already a case brought before the ICJ in 2004, so there have been two ICJ advisory opinions.

    There is a pending case for genocide. There has been the violations of hundreds of resolutions by the — on Israel — over occupied Palestinian territory, by the Security Council, the General Assembly, the Human Rights Council, and steady violation of international humanitarian law, human rights law, the Apartheid Convention, the Genocide Convention. So this is quite unique.

    But all the more, this year alone, Israel has conducted an attack, an unprecedented attack, against the United Nations. It has attacked physically, through artillery, weapons, bombs, UN premises. Seventy percent of UNRWA offices and UNRWA buildings, clinics, distribution centers have been hit and shelled by the Israeli army.

    Two hundred and thirty UN staff members have been killed by Israel in Gaza alone. UN peacekeepers in Lebanon have been attacked. And this doesn’t even take into account the smear, the defamation against senior UN officials, the declaration of the secretary-general as persona non grata, the referring to the General Assembly as a “cloak of antisemites”.

    Again, this has mounted to a level — the hubris against the United Nations and international law has been unchecked and unbounded forever, but now, especially after the Knesset passed a law outlawing UNRWA, declaring UNRWA a terrorist organisation, and therefore disabling it from its capacity to deliver aid and assistance especially in Gaza and the West Bank and East Jerusalem, this is the nail in the coffin of the UN Charter.

    And it can also contribute to that sense of colonial erasure, because here it’s not just at stake the function of a UN body — and UNRWA is a subsidiary body of the General Assembly, so it’s even more serious. But there is the capacity of UNRWA to deliver humanitarian aid in a desperate situation, and also the fact that UNRWA is seen by Israel as the symbol of Palestinian identity, especially the Palestinian refugees. So there is an attempt to erase Palestinianness, including by hitting UNRWA.

    AMY GOODMAN: I want to ask you about your trip here, as we begin to wrap up. The US Ambassador to the United Nations, Linda Thomas-Greenfield, quoted on — tweeted on Tuesday, “As UN Special Rapporteur Albanese visits New York, I want to reiterate the US belief she is unfit for her role. The United Nations should not tolerate antisemitism from a UN-affiliated official hired to promote human rights.” If you can further address their charge of antisemitism against you?

    FRANCESCA ALBANESE: Yeah.

    AMY GOODMAN: And talk about what happened. You were supposed to come to Congress and speak and brief them, but that was cancelled this week.

    FRANCESCA ALBANESE: Yes, it was canceled. But let me — first of all, I’m very embarrassed to read this, because a senior US official who writes this, I mean, it shows a little bit of desperation. I’m sorry, but, you know, I’m very candid.

    And let me unpack my antisemitism for the audience. So, what I’ve been accused of — the reason why I’ve been accused of antisemitism — is because I’ve allegedly compared the Jews to the Nazis. Never done. Never done.

    What I’ve said, what I’ve done is saying, and I keep on saying, that history is repeating itself. I’ve never done such a comparison where I draw the parallel. It’s on the behaviour of member states who have the legal and moral obligation to prevent atrocities, including an unfolding genocide.

    In the past, they have done nothing — nothing — until the end of the Second World War, to prevent the genocide of the Jews and the Roma and Sinti. And they’ve done nothing to prevent the genocide of the Bosnians.

    And they’ve done nothing to prevent the genocide of the Rwandans. And they are doing the same today. This is where I insist that now, compared to when there was the Holocaust, now we have a human rights framework that should prevent this. The Genocide Convention to prevent this. So, this is one of the points.

    The second point, — which leads to portray me as an antisemite, which is really offensive — is that I’ve said that October 7 was not — I’ve contested, I’ve challenged the argument that October 7 was an antisemitic attack. October 7 was a crime, was heinous. And again, I’ve condemned the acts that were directed against the Israeli civilians, and expressed solidarity with the victims, with the families. I’ve been in contact with the families of the hostages.

    But I’ve also said the hatred that led that attack, that prompted that attack, to the extent it hit civilians, not the military, but it was prompted not by the fact that the Israelis are Jews, but the fact that the Israelis — I mean, the Israelis are part of that endeavor that has kept the Palestinians in a cage for 17 years and, before, under martial law for 37 years. And Palestinians have tried — it’s true they have used violence, but before violence, they have tried dialogue. They have tried collaboration. They have tried a number of means to access justice, and they have gone nowhere.

    I can — I mean, let me relate just this case, because last year I worked with children. And someone who was 17 years old before October 7 last year had never set foot out of Gaza. This is the reality. And I spoke with children while I was writing my report on “unchilding”, the experience of Palestinians under Israeli occupation. And one of them — I mean, there were these two girls fighting, because one of them had been able to go to Israel and the West Bank because she had cancer and could be treated, and the other was jealous, because, she said, “At least she was sick, and she could go, she could travel. I’ve never seen the mountains.”

    And again, this doesn’t justify violence, but, please, please, put things in context. And even Israeli scholars have said claiming that October 7 was prompted by antisemitism is a way to decontextualize history and to deresponsibilise Israel.

    I condemn Israel not because it’s a Jewish state. It’s not about that, but because it’s in breach of international law through and through. And were the majority of Israelis Buddhists, Christians, atheists, it would be the same. I would be as vocal as I am now.

    NERMEEN SHAIKH: Francesca, just one last question, and we only have a minute. Your recent book, J’Accuse, you take the title, of course, from the letter Émile Zola wrote during the Dreyfus Affair to the French president. You came under severe criticism for the choice of that title. Could you explain why you chose it and what it means in this context?

    FRANCESCA ALBANESE: Absolutely. I have the sense that whatever I say comes under scrutiny and criticism. But J’Accuse is — first of all, it’s the title that was proposed by the editor, the publisher. And I was against it until October 7.

    When I saw the narrative, the dehumanization of the Palestinians after October 7, and what it was legitimising, I said, “This is the title. We need to use it,” because I draw the parallel between what is happening to the Palestinians and what has happened to other groups, particularly the Jewish people in Europe.

    I say the Holocaust was not just about the concentration camps. The Holocaust was a culmination of centuries of discrimination, and the previous decades had led the Jewish people in Europe to be kicked out of jobs, professions, to be treated like subhumans, as animals. And it’s this dehumanisation that we need to look at in the face today, in the eyes today, and recognise as leading to atrocity crimes.

    AMY GOODMAN: We want to thank you for being with us, Francesca Albanese, UN Special Rapporteur on the Occupied Palestinian Territory.

    The text of this programme was first published by Democracy Now! here and is  republished under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States Licence.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Foreign leaders to attend 7th China Int’l Import Expo

    Source: China State Council Information Office

    At the invitation of Chinese Premier Li Qiang, foreign leaders including Malaysian Prime Minister Anwar Ibrahim, Uzbek Prime Minister Abdulla Aripov, Slovak Prime Minister Robert Fico, Kazakh Prime Minister Olzhas Bektenov, Mongolian Prime Minister Luvsannamsrai Oyun-Erdene and Serbian Prime Minister Milos Vucevic will attend the opening ceremony of the 7th China International Import Expo (CIIE) and relevant events, Foreign Ministry spokesperson Mao Ning announced Sunday.

    The 7th CIIE will be held in Shanghai from Nov. 5 to 10. Enditem

    MIL OSI China News –

  • MIL-OSI United Kingdom: The UK supports Bosnia and Herzegovina’s aspirations towards greater European integration: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Statement by Ambassador Barbara Woodward, UK Permanent Representative to the UN, at the UN Security Council meeting on Bosnia and Herzegovina

    Location:
    United Nations, New York
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    The UK welcomes the renewal of the mandate of EUFOR Althea today, and I join others in thanking France for its efforts as penholder on the text. EUFOR’s presence continues to play a vital role in safeguarding peace and security in Bosnia and Herzegovina. 

    I also express my thanks to High Representative Christian Schmidt for his latest report and I welcome his excellency Mr Denis Bećirović in our meeting today.

    I would like to use my remarks today to make three points:

    First, the UK fully supports Bosnia and Herzegovina’s aspirations to make progress towards greater European integration.

    Pursuing a reform path will help to achieve this goal and will boost stability and prosperity. We encourage continued progress on key steps that will unlock long-term benefits for all of Bosnia and Herzegovina’s citizens.

    Second, Bosnia and Herzegovina must avoid actions which undermine this progress. We remain deeply concerned by secessionist rhetoric and actions from the Republika Srpska Entity, designed to undermine the unity and function of the state.

    One such example is the proposed agreement on peaceful disassociation. We are also concerned by elements of the All-Serb Declaration which we assess do not align with the Dayton Peace Agreement.

    And we regret the reported rise in genocide denial and glorification of war criminals. This has no place in a modern, inclusive and multi-ethnic society.

    Third, this mixed picture reinforces the ongoing vital role of the High Representative, who is tasked with upholding the Dayton Peace Agreement.

    The international community must enable an environment in which Bosnia and Herzegovina can make progress on reforms and advance its European ambitions. As such, we must continue to promote domestic responsibility and accountability.

    We particularly welcomed the High Representative’s recent changes to the Election Law, which contributed to the more positive atmosphere in which the recent local elections were held.

    In closing, it is important to emphasise that Bosnia and Herzegovina is and must remain a single, sovereign and multi-ethnic country.

    The UK encourages all politicians to put aside their differences and show the political courage to work together towards a more stable and prosperous future for all citizens.

    Updates to this page

    Published 1 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Transparency and subsidy notification compliance spotlighted at committee meeting

    Source: WTO

    Headline: Transparency and subsidy notification compliance spotlighted at committee meeting

    The Chair noted that despite calls for members to notify their subsidies, compliance with the subsidy notification obligation under the WTO’s SCM Agreement remains concerningly low, affecting the Agreement’s proper functioning. 
    He highlighted that 84 members have not made their 2023 notifications, which were due by 30 June 2023, while 82 members have yet to make their 2021 notifications, which were due more than three years ago. He also noted that 71 members still have not submitted their 2019 notifications, now overdue by more than five years. Many of these members have either never notified or have done so only in the distant past, he said.
    The Chair emphasized that all members benefit from the collective effort of timely and complete notifications. “Ultimately, all members, in addition to being required to notify, have an interest in the notified information of other members,” he stated. He called on non-compliant members to fulfil their obligations, noting that transparency is fundamental to the SCM Agreement’s proper functioning.
    Highlighting efforts to improve compliance, the Chair drew attention to the WTO Secretariat’s technical assistance project on subsidy notifications. The first round of the project, completed in 2023, invited 43 members to take part, with 23 agreeing to participate. Of these, 11 members subsequently submitted their 2023 subsidy notifications in a timely fashion, accounting for 13% of all notifications received for that cycle. The Chair praised these tangible outcomes as evidence of the effectiveness of well-structured, customized assistance projects. He also informed members that a 2024-2025 round of the same technical assistance project will be launched towards the end of this year. He encouraged active engagement of the participating members.
    Several delegations took the floor to echo the Chair’s concerns, stressing the importance of timely and complete subsidy notifications for the SCM Agreement’s effective functioning. They also expressed appreciation for the Secretariat’s ongoing support and technical assistance efforts.
    Training session on subsidy notifications
    In response to a suggestion to organize a training session on the obligation to make subsidy notifications, the Chair acknowledged the potential benefits of such an initiative. He noted that holding a training session would be particularly useful given that a new notification cycle will begin in 2025. Recognizing the timeliness of such a session, he proposed that the Secretariat arrange this training early next year. The Secretariat will communicate the exact date and venue of the session in due course.
    Review of members’ subsidy notifications
    The Committee reviewed the 2023 new and full subsidy notifications submitted by Australia, Cabo Verde, Cambodia, the European Union (pertaining to Croatia, Luxembourg, and Slovenia), Democratic Republic of the Congo, Dominican Republic, El Salvador, Honduras, Iceland, Nepal, and Uruguay.
    The Committee also continued its review of 2023 subsidy notifications from Brazil, Canada, China, Eswatini, the European Union, Japan, Kenya, the Republic of Korea, Malaysia, Mauritius, Montenegro, Norway, Türkiye, the United Kingdom, the United States, and Vanuatu. It also continued its review of a 2019 notification from the Russian Federation.
    National legislation
    The Committee reviewed new notifications of countervailing duty legislation submitted by Brazil, Cabo Verde, Solomon Islands, and the United States. It also continued its review of the legislative notifications of Saint Kitts and Nevis, the European Union, and Ghana.
    Semi-annual reports of members on countervailing duty actions
    The Committee considered the semi-annual reports of countervailing duty actions submitted by Australia, Brazil, Canada, the European Union, India, Mexico, the United Kingdom, and the United States.
    In addition to the semi-annual reports, the SCM Agreement requires members to submit without delay notifications of all preliminary and final countervailing duty actions taken. Reports received from Australia, Brazil, Canada, the European Union, India, Mexico, Chinese Taipei, the United Kingdom, and the United States were reviewed by the Committee.
    Other matters
    The Chair recalled the 31 December 2015 deadline for the elimination of export subsidies by members that received “fast track” extensions under Article 27.4 of the SCM Agreement. He noted that only 15 of the 19 members that had received extensions have provided the final required notifications. He called on the remaining members to comply without delay.
    The Committee discussed a separate item China placed on the agenda regarding discriminatory subsidies policies and measures of the United States.
    The Committee discussed a separate item the Republic of Korea placed on the agenda regarding France’s electric vehicle subsidies programme.
    The Committee also discussed a separate item Australia, Canada, the European Union, Japan, the United Kingdom, and the United States placed on the agenda regarding subsidies and capacity.
    In addition, the Committee discussed a separate item the United States placed on the agenda regarding Kazakhstan’s proposed preferences for domestically produced agricultural machinery.
    The Committee discussed a separate item the United States placed on the agenda regarding the WTO Secretariat’s activities on subsidies. The United States highlighted certain Secretariat-initiated activities relating to subsidies, calling for greater transparency and consultation between the Secretariat and the membership.  Australia, the European Union, India, and the United Kingdom commented on the issues raised by the US, including by expressing support for the call for greater transparency.
    The Secretariat informed the Committee that it has been working on a transparency portal that will allow members to access information about Secretariat-initiated activities and explained that it expected this portal would be rolled-out towards the end of November.
    Under other business, the United States provided an update on proposed guidelines for submission of questions and answers under Articles 25.8 and 25.9 of the SCM Agreement, previously submitted by Australia, Canada, the European Union, Japan, the United Kingdom, and the United States, and discussed at the Committee’s regular meeting in April 2024.
    The Committee also adopted its 2024 annual report to the CTG.
    Next meeting
    The spring and autumn 2025 meetings of the SCM Committee are scheduled to take place in the weeks of 28 April and 27 October 2025, respectively.
    More information about the SCM Agreement and the WTO’s work on subsidies and countervailing measures can be found here.

    Share

    MIL OSI Economics –

  • MIL-OSI Banking: BSTDB Partners with Evocabank to Strengthen SME Financing in Armenia

    Source: Black Sea Trade and Development Bank

    Press Release | 31-Oct-2024

    Facility tailored to strengthen small businesses and boost regional trade 

    The Black Sea Trade and Development Bank (BSTDB) has initiated a new partnership in Armenia by providing USD 10 million to Evocabank. With USD 9 million of the loan dedicated to financing small and medium-sized enterprises (SMEs) and USD 1 million for trade finance operations, the BSTDB facility is specifically designed to address the capital expenditure and working capital needs of Armenian SMEs, including those engaged in trade with other countries in the Black Sea region. Evocabank will utilize these funds to support domestic SMEs, helping them deliver their investment programmess, expand into new markets, and strengthen their competitiveness and export capabilities.

    As a new partner for BSTDB in Armenia, Evocabank’s advanced digital channels and extensive branch network, will play a crucial role in delivering this support to SMEs across Armenia. This collaboration opens new opportunities for Armenian companies to engage in cross-border trade and foster stronger economic ties within the region, in line with BSTDB’s mandate to promote intra-regional cooperation.

    Upon signing the loan agreement, Dr. Serhat Köksal, BSTDB President said: “Supporting the development of the SME sector is a core strategic priority for BSTDB, not just in Armenia but across all our member countries. Small and medium-sized enterprises are the backbone of any economy, and in Armenia, they play a crucial role in driving growth, innovation, and employment.  The funds we are providing will support these businesses in enhancing their operations and building resilience, ultimately contributing to the overall development and sustainable growth of the country’s economy.”

    Karen Yeghiazaryan, Chairman of the Management Board of Evocabank, said: “We are excited to announce a transformative partnership with The Black Sea Trade and Development Bank, aimed at boosting Armenia’s micro, small, and medium-sized enterprise sector. This collaboration marks a significant milestone, with BSTDB providing a substantial investment of USD 10 mln to Evocabank. Of this, USD 9 mln will be directed to empowering SMEs, while USD 1 mln will facilitate trade finance operations. This initiative is tailored to address the challenges faced by Armenian SMEs, ensuring they have the necessary means for growth and innovation. By supporting enterprises involved in trade within the Black Sea region, we are not only enhancing their operational capacity but also fostering a more robust and competitive business landscape. At Evocabank, we are committed to leveraging these funds to help local SMEs realize their investment goals, expand into new markets, and enhance their competitiveness and export potential.”

    Founded in 1990, Evocabank is the first registered commercial bank in Armenia with over 34 years of experience in the banking market. Headquartered in Yerevan, Evocabank provides inclusive financial services to individuals, MSMEs, and larger businesses through its extensive network in Yerevan and regions. The bank is aimed at delivering financial services with extensive application of the latest technologies in a fast, simple and convenient way, operating in a mobile- first format. Focused on innovative digital approach Evocabank is one of the fastest growing banks in Armenia. The bank has received a number of international awards including “The Best SME Bank of Armenia” and “The Best Digital Bank of Armenia” awards by Global Finance Magazine. More information at: www.evoca.am

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact:

    Haroula Christodoulou

    : @BSTDB

    MIL OSI Global Banks –

  • MIL-OSI: Societe Generale: Availability of the third amendment to the 2024 Universal Registration Document

    Source: GlobeNewswire (MIL-OSI)

    AVAILABILITY OF THE THIRD AMENDMENT TO 2024 UNIVERSAL REGISTRATION DOCUMENT
    Regulated Information

    Paris, 31 October 2024

    Societe Generale hereby informs the public that the third amendment to the 2024 Universal Registration Document filed on 11th March 2024 under number D.24-0094, has been filed with the French Financial Markets Authority (AMF) on 31st October 2024 under number D-24-0094-A03.
    This document is made available to the public, free of charge, in accordance with the conditions provided for by the regulations in force and may be consulted in the “Regulated information” section of
    the Company’s website (https://investors.societegenerale.com/en/financial-and-non-financial-information/regulated-information) and on the AMF’s website.

    Press contacts:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for nearly 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network –

  • MIL-OSI China: EU’s protectionist tariffs on Chinese EVs face backlash from industry, officials

    Source: China State Council Information Office 3

    The European Commission on Tuesday announced the imposition of anti-subsidy tariffs on Chinese-made electric vehicles (EVs), a decision that has sparked strong opposition from within the EU and key industry stakeholders.

    Starting Wednesday, these tariffs will remain in place for five years with varying rates: 17 percent for BYD, 18.8 percent for Geely, and 35.3 percent for SAIC, among China’s leading automakers.

    Additional firms that cooperated in the investigation will be subject to a 20.7-percent duty, while non-cooperative companies will incur the maximum 35.3-percent rate, according to the commission’s statement.

    Despite this decision, the European Commission noted that the EU and China are still exploring alternative measures within WTO guidelines to address trade concerns.

    The decision has sparked widespread discontent among EU member states and industry stakeholders alike. Critics argue that such tariffs could burden European consumers, strain EU-China trade and investment ties, hinder Europe’s transition to a greener automotive sector, and ultimately undermine global efforts to mitigate climate change.

    Germany’s economy ministry reaffirmed its commitment to “open markets,” underscoring the country’s reliance on global trade networks and calling for continued negotiations with China to ease tensions while protecting EU industries.

    Slovakia, a dissenting voice in the October vote, opposed the tariff increase. Prime Minister Robert Fico noted that China is “20 years ahead of us when it comes to EVs,” cautioning that heightened trade barriers could ultimately harm Europe more than China.

    Industry leaders in the automotive sector echoed these concerns. Hildegard Muller, president of the German Association of the Automotive Industry, criticized the tariffs as a “step backwards for global free trade,” warning of potential job losses, stunted economic growth, and weakened market prosperity, along with further trade disputes.

    “The door for negotiations remains open. This is the only positive news today,” she said, urging sustained efforts toward open negotiations.

    Major European automakers, including Volkswagen, BMW, and Mercedes-Benz, voiced a unified stance against the tariffs, advocating for open markets that support fair competition.

    BMW CEO Oliver Zipse warned that the tariffs could “harm the business model of globally active companies, limit the supply of electric cars to European customers and thus slow down decarbonization in the transport sector.”

    Michael Schumann, chairman of the Board of the German Federal Association for Economic Development and Foreign Trade, criticized the tariffs as counterproductive, arguing that they contradict Europe’s objectives of promoting electric mobility and advancing climate protection.

    “The transition to electric mobility is a cornerstone of climate protection, and we need to support and advance that transition,” Schumann told Xinhua.

    Experts have also weighed in, highlighting broader geopolitical influences. Boyan Chukov, a former foreign policy advisor to Bulgaria’s Prime Minister, argued that the United States is leveraging the EU in its economic competition with China.

    “China is one of the countries most compliant with environmental regulations. In this regard, it stands as an example for other countries to follow,” he said, adding that the additional tariffs are driven by “political imperatives.”

    Liang Guoyong, a senior economist with the United Nations Conference on Trade and Development, described the EU tariffs as “counterproductive.”

    He noted that protective and restrictive trade measures on green products, such as EVs, conflict with global efforts to reduce carbon emissions and could increase costs for European consumers.

    “Imposing these tariffs would only undermine the economic interests of both importers and exporters and threaten global climate change progress,” Liang warned.

    MIL OSI China News –

  • MIL-OSI: Societe Generale: Third quarter 2024 earnings

    Source: GlobeNewswire (MIL-OSI)

    RESULTS AT 30 SEPTEMBER 2024

    Press release                                                        
    Paris, 31 October 2024

    SOLID BUSINESS PERFORMANCE IN Q3 24,
    GROUP NET INCOME OF EUR 1.4 BILLION

    Revenues of EUR 6.8 billion, up +10.5% vs. Q3 231, driven notably by the strong rebound in net interest income in France, in line with end of year estimate, and by another solid performance of Global Banking and Investor Solutions, in particular in Equities and Transaction Banking

    Strong positive jaws, control of operating expenses, down by -0.8% vs. Q3 23

    Cost-to-income ratio at 63.3% in Q3 24, improved by 7.1 points vs. Q3 23

    Stable cost of risk at 27 basis points in Q3 24

    Profitability (ROTE) at 9.6% vs. 3.8% for Q3 23

    9M 24 NET INCOME UP 53% VS. 9M 23 AT EUR 3.2 BILLION,
    DRIVEN BY THE IMPROVEMENT IN OPERATING PERFORMANCE

    Revenues of EUR 20.2 billion, up +5.3% vs. 9M 23

    Stable operating expenses, +0.1% vs. 9M 23

    Cost-to-income ratio at 68.8%, improved by 3.6 percentage points vs. 9M 23

    Profitability (ROTE) at 7.1% vs. 5.0% for 9M 23

    SOLID CAPITAL AND LIQUIDITY RATIOS

    CET 1 ratio of 13.2%2at end of Q3 24, around 300 basis points above the regulatory requirement

    Liquidity Coverage Ratio at 152% at end of Q3 24

    Distribution provision of EUR 1.663per share at end-September 2024

    DECISIVE EXECUTION OF THE STRATEGIC PLAN

    Capital build-up ahead of Capital Markets Day trajectory

    Continuous improvement in efficiency and profitability

    Reshaping of the business portfolio well underway

    Slawomir Krupa, the Group’s Chief Executive Officer, commented:
    “We are publishing solid quarterly results that continue to show strong improvement. It demonstrates that we are executing our strategic plan which is impacting our results in a positive and tangible way. Our revenues are up thanks to the solid performance of our businesses with a strong rebound of the net interest income in France and another remarkable contribution from Global Banking and Investor Solutions. Operating expenses are stable and cost of risk is contained. We are posting a clear improvement of cost-to-income ratio and profitability, and our capital ratio continues to strengthen.
    For the past year we have been working relentlessly. Our teams are mobilized and we have made progress in three fundamental areas: capital build-up, improvement of profitability, and the reshaping of our business portfolio. We continue to implement our various strategic initiatives such as BoursoBank’s development, LeasePlan’s integration within Ayvens and the acceleration of our contribution to the energy transition. Our goal remains unchanged: a sustainable performance that will create long-term value.”

    1. GROUP CONSOLIDATED RESULTS
    In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change
    Net banking income 6,837 6,189 +10.5% +11.8%* 20,167 19,147 +5.3% +6.5%*
    Operating expenses (4,327) (4,360) -0.8% -0.3%* (13,877) (13,858) +0.1% +0.5%*
    Gross operating income 2,511 1,829 +37.3% +41.0%* 6,290 5,289 +18.9% +22.4%*
    Net cost of risk (406) (316) +28.4% +30.5%* (1,192) (664) +79.6% +81.0%*
    Operating income 2,105 1,513 +39.1% +43.2%* 5,098 4,625 +10.2% +13.9%*
    Net profits or losses from other assets 21 6 x 3.5 x 3.4* (67) (92) +27.5% +27.3%*
    Income tax (535) (624) -14.3% -12.7%* (1,188) (1,377) -13.7% -11.3%*
    Net income 1,591 563 x 2.8 x 3.0* 3,856 2,836 +35.9% +41.3%*
    O.w. non-controlling interests 224 268 -16.5% -16.1%* 696 774 -10.1% -11.2%*
    Reported Group net income 1,367 295 x 4.6 x 5.1* 3,160 2,062 +53.2% +62.2%*
    ROE 8.4% 0.9%     6.2% 3.6% +0.0% +0.0%*
    ROTE 9.6% 3.8%     7.1% 5.0% +0.0% +0.0%*
    Cost to income 63.3% 70.4%     68.8% 72.4% +0.0% +0.0%*

    Societe Generale’s Board of Directors, which met on 30 October 2024 under the chairmanship of Lorenzo Bini Smaghi, examined Societe Generale Group’s results for Q3 24 and for the first nine months of 2024.

    Net banking income 

    Net banking income stood at EUR 6.8 billion, up by +10.5% vs. Q3 23.

    Revenues of French Retail, Private Banking and Insurance were up by +18.7% vs. Q3 23 and totalled EUR 2.3 billion in Q3 24. Net interest income continued its rebound in Q3 24 (+43% excluding PEL/CEL provision vs. Q3 23), in line with latest estimates, in the context of a still muted loan environment and the pursuit of increasing interest-bearing deposits. Assets under management in the Private Banking and Insurance businesses continued to rise, respectively recording a growth of +8% and +10% in Q3 24 vs. Q3 23. Last, BoursoBank continued its controlled client acquisition, onboarding once again more than 300,000 new clients over the quarter, reaching close to 6.8 million clients at end-September 2024. Likewise, assets under administration rose by over 14% vs. Q3 23. As in Q2 24, BoursoBank posted a positive contribution to Group net income in Q3 24.

    Global Banking and Investor Solutions registered a +4.9% increase in revenues relative to Q3 23. Revenues totalled EUR 2.4 billion over the quarter, still driven by strong dynamics of Global Markets’ and Global Transaction & Payment Services’ activities, with revenues increasing by a respective +7.6% and +9.0% in Q3 24 vs. Q3 23. Within Global Markets, revenues of Equity businesses grew by +10.1%. This is the second best third quarter ever. Fixed income and Currencies also recorded a solid performance, with a +6.1% increase in revenues amid a falling interest rates. Financing and Advisory’s revenues totalled EUR 843 million, stable vs. Q3 23. The commercial momentum in the securitisation businesses remained very solid and the performance of financing activities continued to be good, albeit slower relative to an elevated Q3 23. Likewise, Global Transaction & Payment Services’ activities posted an +9.0% increase in revenues vs. Q3 23, driven by a favourable market environment and sustained commercial development in the cash management and correspondent banking activities.

    Mobility, International Retail Banking and Financial Services’ revenues were down by -5.4% vs. Q3 23 mainly owing to base effects at Ayvens. International Retail Banking recorded a +1.4% increase in revenues vs. Q3 23 to EUR 1.1 billion, driven by favourable momentum across all regions. Mobility and Financial Services’ revenues contracted by -11.4% vs. Q3 23 owing to an unfavourable non-recurring base effect on Ayvens.

    The Corporate Centre recorded revenues of EUR +54 million in Q3 24. They include the booking of exceptional proceeds of approximately EUR 0.3 billion4.

    Over 9M 24, net banking income increased by +5.3% vs. 9M 23.

    Operating expenses 

    Operating expenses came to EUR 4,327 million in Q3 24, down -0.8% vs. Q3 23.

    The cost-to-income ratio stood at 63.3% in Q3 24, a sharp decrease vs. Q3 23 (70.4%) and Q2 24 (68.4%).

    Over 9M 24, operating expenses were stable (+0.1% vs. 9M 23) and the cost-to-income ratio came to 68.8% (vs. 72.4% for 9M 23), which is lower than the 71% target set for FY 2024.

    Cost of risk

    The cost of risk was stable and contained over the quarter at 27 basis points, i.e., EUR 406 million. This comprises a EUR 400 million provision for doubtful loans (around 27 basis points) and a provision on performing loan outstandings for EUR +6 million.

    At end-September 2024, the Group’s provisions on performing loans amounted to EUR 3,122 million, down by a slight EUR -56 million relative to 30 June 2024 notably as per the application of IFRS5 accounting standards on activities under disposal. The EUR -450 million contraction relative to 31 December 2023 is mainly owing to the application of IFRS 5 accounting standards for activities under disposal.

    The gross non-performing loan ratio stood at 2.95%5,6 at 30 September 2024, down vs. end of June 2024 (3.03%). The net coverage ratio on the Group’s non-performing loans stood at 84%7 at 30 September 2024 (after netting of guarantees and collateral).

    Net profits from other assets

    In Q3 24, the Group booked net profit of EUR 21 million driven, on the one hand, by the sale of the headquarters of KB in the Czech Republic and, on the other hand, by the accounting impacts mainly owing to the current sale of assets.

    Group net income

    Group net income stood at EUR 1,367 million in Q3 24, equating to a Return on Tangible Equity (ROTE) of 9.6%.

    Over 9M 24, Group net income came to EUR 3,160 million, equating to a Return on Tangible Equity (ROTE) of 7.1%.

    2.   STRATEGIC PLAN FULLY ON TRACK

    Since announcing its strategic plan in September 2023, the Group has made significant progress in its implementation, the benefits of which are starting to materialise, including on financials aspects. Fundamental milestones have notably been reached in three major areas: capital build-up, the continuous improvement in efficiency and profitability and the reshaping of the business portfolio.

    Regarding the business portfolio, the Group has been proactive in recent months, announcing the disposal of several non-core and non-synergistic assets. These latest divestments not only contribute to simplifying the Group but will also reinforce the capital ratio by around 60 basis points, of which around 15 basis points are expected by year-end.

    At the same time, the Group is preparing the future by investing in our core franchises, as demonstrated by the development of BoursoBank, the integration of LeasePlan in Ayvens, the creation of Bernstein, the partnership with Brookfield, the merger of our networks in France and the digitalization of our networks in the Czech Republic.

    The rollout of our ESG roadmap is also progressing well, particularly on the alignment of our portfolio. The Group has already reduced by more than 50% its upstream Oil & Gas exposure at Q2 24 compared to 20198.

    Last quarter, the Group reached its EUR 300 billion sustainable finance target set between 2022-2025. Societe Generale announces today a new sustainable finance target to facilitate EUR 500 billion over the 2024-2030 period that breaks down as follows:
    – EUR 400 billion in financing and EUR 100 billion in sustainable bonds9
    – EUR 400 billion in environmental activities and EUR 100 billion in social

    A major portion of financing will be for dedicated transactions in clean energy, sustainable real estate, low carbon mobility, and other industry and environmental transition topics.

    3.   THE GROUP’S FINANCIAL STRUCTURE

    At 30 September 2024, the Group’s Common Equity Tier 1 ratio stood at 13.2%10, around 300 basis points above the regulatory requirement. Likewise, the Liquidity Coverage Ratio (LCR) was well ahead of regulatory requirements at 152% at end-September 2024 (156% on average for the quarter), and the Net Stable Funding Ratio (NSFR) stood at 116% at end-September 2024.

    All liquidity and solvency ratios are well above the regulatory requirements.

      30.09.2024 31.12.2023 Requirements
    CET1(1) 13.2% 13.1% 10.22%
    CET1 fully loaded 13.2% 13.1% 10.22%
    Tier 1 ratio (1) 15.5% 15.6% 12.15%
    Total Capital(1) 18.2% 18.2% 14.71%
    Leverage ratio (1) 4.25% 4.25% 3.60%
    TLAC (% RWA)(1) 27.8% 31.9% 22.29%
    TLAC (% leverage)(1) 7.6% 8.7% 6.75%
    MREL (% RWA)(1) 32.2% 33.7% 27.56%
    MREL (% leverage)(1) 8.8% 9.2% 6.23%
    End of period LCR 152% 160% >100%
    Period average LCR 156% 155% >100%
    NSFR 116% 119% >100%
    In EURbn 30.09.2024 31.12.2023
    Total consolidated balance sheet 1,580 1,554
    Group shareholders’ equity 67 66
    Risk-weighted assets 392 389
    O.w. credit risk 331 326
    Total funded balance sheet 948 970
    Customer loans 453 497
    Customer deposits 608 618

    At 11 October 2024, the parent company had issued a total of EUR 38.0 billion in medium/long-term debt, of which EUR 17.5 billion in vanilla notes. The 2024 long-term vanilla funding programme is completed. The subsidiaries had issued EUR 4.6 billion. In all, the Group has issued a total of EUR 42.6 billion.

    The Group is rated by four rating agencies: (i) FitchRatings – long-term rating “A-”, stable outlook, senior preferred debt rating “A”, short-term rating “F1” (ii) Moody’s – long-term rating (senior preferred debt) “A1”, negative outlook, short-term rating “P-1” (iii) R&I – long-term rating (senior preferred debt) “A”, stable outlook; and (iv) S&P Global Ratings – long-term rating (senior preferred debt) “A”, stable outlook, short-term rating “A-1”.
    4.   FRENCH RETAIL, PRIVATE BANKING AND INSURANCE

    In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change
    Net banking income 2,254 1,900 +18.7% 6,390 6,090 +4.9%
    Net banking income excl. PEL/CEL 2,259 1,895 +19.2% 6,392 6,090 +5.0%
    Operating expenses (1,585) (1,608) -1.4% (4,962) (5,073) -2.2%
    Gross operating income 669 292 x 2.3 1,428 1,017 +40.5%
    Net cost of risk (178) (144) +23.4% (597) (342) +74.7%
    Operating income 491 148 x 3.3 831 675 +23.1%
    Net profits or losses from other assets (1) 0 n/s 7 4 x 2.1
    Reported Group net income 368 109 x 3.4 631 506 +24.8%
    RONE 9.4% 2.8%   5.4% 4.4%  
    Cost to income 70.3% 84.7%   77.7% 83.3%  

    Commercial activity

    SG Network, Private Banking and Insurance 

    Average outstanding deposits of the SG Network amounted to EUR 236 billion in Q3 24, up by +0.6% vs. the previous quarter (-1% vs. Q3 23), with a continued rise in interest-bearing deposits and financial savings.

    The SG Network’s average loan outstandings contracted by -5% vs. Q3 23 to EUR 195 billion. Outstanding loans to corporate and professional clients were stable vs. Q3 23 (excluding government-guaranteed PGE loans), with the share of medium to long-term loans increasing relative to Q2 24. Home loan production continued its recovery (2.4x vs. Q3 23 and +15% vs. Q2 24).

    The average loan to deposit ratio came to 82.5% in Q3 24, down by -3.3 percentage points relative to Q3 23.

    Private Banking activities saw their assets under management11 reach a new record of EUR 154 billion in Q3 24, up by +8% vs. Q3 23. Net gathering stood at EUR 5.9 billion in 9M 24, the net asset gathering pace (net new money divided by AuM) has risen by +5.5% since the start of the year. Net banking income stood at EUR 368 million over the quarter, stable vs. Q3 23. Over 9M 24, net banking income came to EUR 1,121 million, a +1% increase vs. 9M 23.

    Insurance, which covers activities in and outside France, posted a very strong commercial performance. Life insurance outstandings increased sharply by +10% vs. Q3 23 to reach a record EUR 145 billion at end-September 2024. The share of unit-linked products remained high at 40%. Gross life insurance savings inflows amounted to EUR 3.6 billion in Q3 24, up by +35% vs. Q3 23.

    Personal protection and P&C premia were up by +5% vs. Q3 23.

    BoursoBank 

    BoursoBank registered almost 6.8 million clients at end-September 2024, a +27% increase vs. Q3 23 (an increase of around 1.4 million clients year on year). The pace of new client acquisition (around 310,000 new clients in Q3 24) is fully in line with the target of 7 million clients by the end of 2024. BoursoBank can build on an active, loyal and high-quality client base. The brokerage activity registered two million transactions, up by +18% vs. Q3 23. Last, proof of the efficiency of the model and of the very high client satisfaction level, the churn rate has remained low at around 3% and below the market rate.

    Average loan outstandings rose by +4,2% compared to Q3 23, at EUR 15 billion in Q3 24.

    Average outstanding savings including deposits and financial savings were +13.8% higher vs. Q3 23 at EUR 63 billion. Deposits outstanding totalled EUR 38 billion at Q3 24, posting another sharp increase of +16.2% vs. Q3 23. Life insurance outstandings came to EUR 12 billion in Q3 24 and rose by +7.3% vs. Q3 23 (o/w 47% unit-linked products, a +3.3 percentage points increase vs. Q3 23). The activity continued to register strong gross inflows over the quarter (+55% vs. Q3 23, around 53% unit-linked products).

    For the second quarter in a row, BoursoBank recorded a positive contribution to Group net income in Q3 24.

    Net banking income

    Over the quarter, revenues came to EUR 2,254 million, up +19% vs. Q3 23 and up +6% vs Q2 24. Net interest income grew by +43% vs. Q3 23 (excluding PEL/CEL) and +19% (EUR 169 million) vs. Q2 24. Fee income rose by +5.0% relative to Q3 23.

    Over 9M 24 revenues came to EUR 6,390 million, up by +4.9% vs. 9M 23. Net interest income excluding PEL/CEL was up by +15.9% vs. 9M 23. Fee income increased by +1.7% relative to 9M 23.

    Operating expenses

    Over the quarter, operating expenses came to EUR 1,585 million, down -1.4% vs. Q3 23. Operating expenses for Q3 24 include EUR 12 million in transformation costs. The cost-to-income ratio stood at 70.3% for Q3 24, improving by more than +14 percentage points vs. Q3 23.

    Over 9M 24, operating expenses came to EUR 4,962 million (-2.2% vs. 9M 23). The cost-to-income ratio stood at 77.7% and improved by +5.7 percentage points vs. 9M 23.

    Cost of risk

    In Q3 24, the cost of risk amounted to EUR 178 million or 30 basis points stable on Q2 24
    (29 basis points).

    Over 9M 24, the cost of risk totalled EUR 597 million or 34 basis points.

    Group net income

    Over the quarter, Group net income totalled EUR 368 million. RONE stood at 9.4% in Q3 24.

    Over 9M 24, Group net income totalled EUR 631 million. RONE stood at 5.4% in 9M 24.
    5.   GLOBAL BANKING AND INVESTOR SOLUTIONS

    In EUR m Q3 24 Q3 23 Variation 9M 24 9M 23 Change
    Net banking income 2,422 2,309 +4.9% +5.2%* 7,666 7,457 +2.8% +2.8%*
    Operating expenses (1,494) (1,478) +1.1% +1.3%* (4,898) (5,187) -5.6% -5.5%*
    Gross operating income 928 831 +11.6% +12.0%* 2,768 2,270 +21.9% +21.8%*
    Net cost of risk (27) (14) +95.3% x 2.0* (29) 8 n/s n/s
    Operating income 901 817 +10.2% +10.5%* 2,739 2,278 +20.2% +20.0%*
    Reported Group net income 699 645 +8.2% +8.5%* 2,160 1,814 +19.1% +18.8%*
    RONE 18.0% 16.8% +0.0% +0.0%* 19.0% 15.6% +0.0% +0.0%*
    Cost to income 61.7% 64.0% +0.0% +0.0%* 63.9% 69.6% +0.0% +0.0%*

    Net banking income

    Global Banking and Investor Solutions continued to deliver very strong performances, posting revenues of EUR 2,422 million, up +4.9% versus Q3 23.

    Over 9M 24, revenues climbed by +2.8% vs. 9M 23 (EUR 7,666 million vs. EUR 7,457 million).

    Global Markets and Investor Services recorded a rise in revenues over the quarter vs. Q3 23 of +7.6% to EUR 1,579 million. Over 9M 24, revenues totalled EUR 5,063 million, i.e., a +3.1% increase vs. 9M 23. Growth was mainly driven by Global Markets which recorded revenues of EUR 1,410 million in Q3 24, up by +8.6% relative to Q3 23 amid a positive environment that was particularly conducive to Equities. Over 9M 24, revenues totalled EUR 4,553 million, up by +4.5% vs. 9M 23.

    The Equities business again delivered a solid performance, recording revenues of EUR 880 million in Q3 24, up by a strong +10.1% vs. Q3 23, notably on the back of a very good performance from derivatives amid favourable market conditions. This is the second best third quarter ever. Over 9M 24, revenues increased sharply by +12.9% relative to 9M 23 to EUR 2,739 million.

    Fixed Income and Currencies registered a +6.1% increase in revenues to EUR 530 million in Q3 24, notably owing to robust demand for rates and forex flow activities, particularly from US clients. Over 9M 24, revenues decreased by -6.0% to EUR 1,814 million.

    Securities Services’ revenues were up +0.6% versus Q3 23 at EUR 169 million, but increased by +9.9% excluding the impact of equity participations. The business continued to reap the benefit of a positive fee generation trend and robust momentum in private market and fund distribution. Over 9M 24, revenues were down by -8.2%, but rose by +2.1% excluding equity participations. Assets under Custody and Assets under Administration amounted to EUR 4,975 billion and EUR 614 billion, respectively.

    The Financing and Advisory business posted revenues of EUR 843 million, stable versus Q3 23. Over 9M 24, revenues totalled EUR 2,602 million, up by +2.3% vs. 9M 23.

    The Global Banking and Advisory business posted a -3.2% decline in revenues relative to Q3 23. Securitised products again delivered a solid performance and momentum was strong in the distribution activity. Financing activities posted a good performance, albeit down on the high baseline in Q3 23. Investment banking activities turned in resilient performances. Over 9M 24, revenues dipped slightly by -0.3% relative to 9M 23.

    Global Transaction & Payment Services again delivered a very robust performance compared with Q3 23, posting an +9.0% increase in revenues, driven by strong momentum in cash management and the correspondent banking activities. Over 9M 24, revenues grew by +10.1%.

    Operating expenses

    Operating expenses came to EUR 1,494 million over the quarter and included EUR 21 million in transformation costs. Operating expenses rose by +1.1% compared with Q3 23, equating to a cost-to-income ratio of 61.7% in Q3 24.

    Over 9M 24, operating expenses decreased by -5.6% compared with 9M 23 and the cost-to-income ratio came to 63.9%.

    Cost of risk

    Over the quarter, the cost of risk was low at EUR 27 million, or 7 basis points vs. 3 basis points in Q3 23.

    Over 9M 24, the cost of risk was EUR 29 million, or 2 basis points.

    Group net income

    Group net income increased by +8.2% vs. Q3 23 to EUR 699 million. Over 9M 24, Group net income rose sharply by +19.1% to EUR 2,160 million.

    Global Banking and Investor Solutions reported high RONE of 18.0% for the quarter and RONE of 19.0% for 9M 24.

    6.   MOBILITY, INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES

    In EURm Q3 24 Q3 23 Change   9M 24 9M 23 Change
    Net banking income 2,108 2,228 -5.4% -2.8%*   6,403 6,491 -1.4% +1.8%*
    Operating expenses (1,221) (1,239) -1.4% +0.3%*   (3,832) (3,479) +10.2% +12.7%*
    Gross operating income 887 989 -10.4% -6.6%*   2,570 3,013 -14.7% -10.9%*
    Net cost of risk (201) (175) +14.9% +18.1%*   (572) (349) +63.7% +65.9%*
    Operating income 685 814 -15.8% -12.0%*   1,998 2,663 -25.0% -21.2%*
    Net profits or losses from other assets 94 1 x 77.0 x 76.7*   98 0 x 375.7 x 304.1
    Non-controlling interests 223 237 -6.1% -3.6%*   623 674 -7.6% -7.8%*
    Reported Group net income 367 377 -2.4% +3.1%*   956 1,325 -27.8% -22.1%*
    RONE 14.1% 14.9%       12.2% 18.6%    
    Cost to income 57.9% 55.6%       59.9% 53.6%    

    (122)()

    Commercial activity

    International Retail Banking

    International Retail Banking1 posted robust commercial momentum in Q3 24, with an increase in loan outstandings of +4.2%* vs. Q3 23 (+1.8%, outstandings of EUR 68 billion in Q3 24) and growth of +4.1%* vs. Q3 23 (+1.2%, outstandings of EUR 83 billion in Q3 24).

    Activity in Europe was solid across client segments for both entities. Loan outstandings increased by +6.0%* vs. Q3 23 (+3.1% at current perimeter and exchange rates, outstandings of EUR 43 billion in Q3 24), driven by home loans and medium and long-term corporate loans in a lower rates environment. Deposit outstandings increased by +4.6%* vs. Q3 23 (+1.9% at current perimeter and exchange rates, outstandings of EUR 55 billion in Q3 24), mainly on interest-bearing products.

    In Africa, Mediterranean Basin and French Overseas Territories, loan outstandings totalled EUR 25 billion in Q3 24 (+1.2%* vs. Q3 23, stable at current perimeter and exchange rates) on back of a +5.6%* rise vs. Q3 23 in sub-Saharan Africa (stable vs. Q3 23 at current perimeter and exchange rates). Deposit outstandings totalled EUR 27 billion at Q3 24. They increased by +3.0%* vs. Q3 23 (stable at current perimeter and exchange rates) across all client segments in Africa.

    Mobility and Financial Services

    Overall, Mobility and Financial Services maintained a good commercial performance.

    Ayvens’ earning assets totalled EUR 53.1 billion at end-September 2024, a +5.8% increase vs.                                end-September 2023.

    The Consumer Finance business posted loans outstanding of EUR 23 billion for Q3 24, down -4.5% vs. Q3 23 in a still uncertain environment.

    Equipment Finance posted outstandings of EUR 15 billion in Q3 24, the same level as in Q3 23.

    Net banking income

    Over the quarter, Mobility, International Retail Banking and Financial Services’ revenues totalled EUR 2,108 million, a decrease of -2.8%* vs. Q3 23 (-5.4% at current perimeter and exchange rates).

    Over 9M 24, revenues came to EUR 6,403 million, up slightly by +1.8%* vs. 9M 23 (-1.4% at current perimeter and exchange rates).

    International Retail Banking recorded a solid performance over the quarter, with a net banking income of EUR 1,058 million, up by +5.1%* vs. Q3 23 (+1.4% at current perimeter and exchange rates). Over 9M 24, revenues totalled EUR 3,131 million, a +4.0%* increase vs. 9M 23 (stable at current perimeter and exchange rates).

    Europe recorded revenues of EUR 506 million in Q3 24, an increase for both entities (+3.0%* vs. Q3 23, stable at current perimeter and exchange rates).

    The Africa, Mediterranean Basin and French Overseas Territories region continued to post robust commercial momentum with revenues of EUR 552 million in Q3 24. These increased by +7.2%* vs. Q3 23 (+2.8% at current perimeter and exchange rates), driven by a significant rise in net interest income in Africa (+10.5%* vs. Q3 23).

    In Q3 24, Mobility and Financial Services’ revenues decreased by -11.4% vs. Q3 23 to EUR 1,049 million. Over the first nine months of 2024, they contracted by -2.9% to EUR 3,271 million.

    Ayvens’ net banking income stood at EUR 732 million, a decrease of -14,8% in Q3 24 vs. Q3 23 and of
    -4,0% restated from non-recurring items13. The amount of underlying margins was stable vs. Q3 23 at around EUR 690 million1. The average used car sale result per vehicle (UCS) continued to normalise but remained at a high level of EUR 1,4201 per unit in Q3 24 vs. EUR 1,4801 in Q2 24.

    Consumer Finance activities, down by -3.5% vs. Q3 23, have stabilised since Q2 24 with the business posting net banking income of EUR 218 million in Q3 24. Equipment Finance revenues were also stable vs. Q3 23 (EUR 99 million in Q3 24).

    Operating expenses

    Over the quarter, operating expenses were stable (+0.3%* vs. Q3 23, -1.4%) at EUR 1,221 million and included EUR 29 million in transformation costs. The cost-to-income ratio came to 57.9% in Q3 24.

    Over 9M 24, operating expenses totalled EUR 3,832 million, up +12.7%* vs. 9M 23 (+10.2% at current perimeter and exchange rates). They include around EUR 148 million of transformation charges.

    In a context of a strong transformation, International Retail Banking costs rose by +3.4%* vs. Q3 23 (stable at current perimeter and exchange rates, EUR 567 million in Q3 24), notably due to the impact of a new banking tax in Romania which entered into force in January 2024.

    The Mobility and Financial Services business recorded a decrease in operating expenses compared to Q3 23 (-2.4% vs. Q3 23, EUR 654 million in Q3 24).

    Cost of risk

    Over the quarter, the cost of risk normalised at 48 basis points (or EUR 201 million).

    Over 9M 24, the cost of risk stood at 45 basis points vs. 32 basis points in 9M 23.

    Group net income

    Over the quarter, Group net income came to EUR 367 million, down -2.4% vs. Q3 23. RONE stood at 14.1% in Q3 24. RONE was 21.4% for International Retail Banking (positive impact on Group net income of around EUR 40 million related to the sale of KB head office premises), and 9.2% in Mobility and Financial Services in Q3 24.

    Over 9M 24, Group net income came to EUR 956 million, down by -27.8% vs. 9M 23. RONE stood at 12.2% for 9M 24. RONE was 16.4% in International Retail Banking, and 9.5% in Mobility and Financial Services in 9M 24.
    7.   CORPORATE CENTRE

    In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change
    Net banking income 54 (249) n/s n/s (291) (891) +67.3% +67.8%*
    Operating expenses (27) (35) -22.8% -25.8%* (185) (119) +55.2% +48.2%*
    Gross operating income 27 (283) n/s n/s (476) (1,010) +52.9% +54.2%*
    Net cost of risk 1 17 +95.9% +95.9%* 6 19 +70.6% +70.6%*
    Net profits or losses from other assets (73) 4 n/s n/s (172) (96) -78.9% -79.1%*
    Income tax (26) (214) -87.7% -87.5%* 118 (85) n/s n/s
    Reported Group net income (67) (836) +92.0% +92.2%* (587) (1,582) +62.9% +63.7%*

    The Corporate Centre includes:

    • the property management of the Group’s head office,
    • the Group’s equity portfolio,
    • the Treasury function for the Group,
    • certain costs related to cross-functional projects, as well as several costs incurred by the Group that are not re-invoiced to the businesses.

    Net banking income

    Over the quarter, the Corporate Centre’s net banking income totalled EUR +54 million vs.  EUR -249 million in Q3 23. It includes the booking of exceptional proceeds received of approximately EUR 0.3 billion14.

    Operating expenses

    Over the quarter, operating expenses totalled EUR 27 million vs. EUR 35 million in Q3 23.

    Net losses from other assets

    Pursuant notably to the application of IFRS 5, the Group booked in Q3 24 various impacts from ongoing disposals of assets.

    Group net income

    Over the quarter, the Corporate Centre’s Group net income totalled EUR -67 million vs. EUR -836 million in Q3 23.

    8.   2024 AND 2025 FINANCIAL CALENDAR

    2024 and 2025 Financial communication calendar
    February 6th, 2025 Fourth quarter and full year 2024 results
    April 30th, 2025 First quarter 2025 results
    May 20th, 2025 2024 Combined General Meeting
    The Alternative Performance Measures, notably the notions of net banking income for the pillars, operating expenses, cost of risk in basis points, ROE, ROTE, RONE, net assets and tangible net assets are presented in the methodology notes, as are the principles for the presentation of prudential ratios.

    This document contains forward-looking statements relating to the targets and strategies of the Societe Generale Group.

    These forward-looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union, as well as the application of existing prudential regulations.

    These forward-looking statements have also been developed from scenarios based on a number of economic assumptions in the context of a given competitive and regulatory environment. The Group may be unable to:

    – anticipate all the risks, uncertainties or other factors likely to affect its business and to appraise their potential consequences;

    – evaluate the extent to which the occurrence of a risk or a combination of risks could cause actual results to differ materially from those provided in this document and the related presentation.

    Therefore, although Societe Generale believes that these statements are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, including matters not yet known to it or its management or not currently considered material, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, overall trends in general economic activity and in Societe Generale’s markets in particular, regulatory and prudential changes, and the success of Societe Generale’s strategic, operating and financial initiatives.

    More detailed information on the potential risks that could affect Societe Generale’s financial results can be found in the section “Risk Factors” in our Universal Registration Document filed with the French Autorité des Marchés Financiers (which is available on https://investors.societegenerale.com/en).

    Investors are advised to take into account factors of uncertainty and risk likely to impact the operations of the Group when considering the information contained in such forward-looking statements. Other than as required by applicable law, Societe Generale does not undertake any obligation to update or revise any forward-looking information or statements. Unless otherwise specified, the sources for the business rankings and market positions are internal.

    9.   APPENDIX 1: FINANCIAL DATA

    GROUP NET INCOME BY CORE BUSINESS

    In EURm Q3 24 Q3 23 Variation 9M 24 9M 23 Variation
    French Retail, Private Banking and Insurance 368 109 x 3.4 631 506 +24.8%
    Global Banking and Investor Solutions 699 645 +8.2% 2,160 1,814 +19.1%
    Mobility, International Retail Banking & Financial Services 367 377 -2.4% 956 1,325 -27.8%
    Core Businesses 1,434 1,131 +26.7% 3,747 3,644 +2.8%
    Corporate Centre (67) (836) +92.0% (587) (1,582) +62.9%
    Group 1,367 295 x 4.6 3,160 2,062 +53.2%

    MAIN EXCEPTIONAL ITEMS

    In EURm Q3 24 Q3 23 9M 24 9M 23
    Net Banking Income – Total exceptional items 287 0 287 (240)
    One-off legacy items – Corporate Centre 0 0 0 (240)
    Exceptional proceeds received – Corporate Centre 287 0 287 0
             
    Operating expenses – Total one-off items and transformation charges (62) (145) (538) (662)
    Transformation charges (62) (145) (538) (627)
    Of which French Retail, Private Banking and Insurance (12) (46) (139) (330)
    Of which Global Banking & Investor Solutions (21) (41) (204) (102)
    Of which Mobility, International Retail Banking & Financial Services (29) (58) (148) (195)
    Of which Corporate Centre 0 0 (47) 0
    One-off items 0 0 0 (35)
    Of which French Retail, Private Banking and Insurance 0 0 0 60
    Of which Global Banking & Investor Solutions 0 0 0 (95)
             
    Other one-off items – Total 13 (625) 13 (704)
    Net profits or losses from other assets 13 (17) 13 (96)
    Of which Mobility, International Retail Banking and Financial Services 86 0 86 0
    Of which Corporate Centre (73) (17) (73) (96)
    Goodwill impairment – Corporate Centre 0 (338) 0 (338)
    Provision of Deferred Tax Assets – Corporate Centre 0 (270) 0 (270)

    CONSOLIDATED BALANCE SHEET

    In EUR m   30.09.2024 31.12.2023
    Cash, due from central banks   199,140 223,048
    Financial assets at fair value through profit or loss   528,259 495,882
    Hedging derivatives   8,265 10,585
    Financial assets at fair value through other comprehensive income   93,795 90,894
    Securities at amortised cost   29,908 28,147
    Due from banks at amortised cost   87,153 77,879
    Customer loans at amortised cost   446,576 485,449
    Revaluation differences on portfolios hedged against interest rate risk   (330) (433)
    Insurance and reinsurance contracts assets   438 459
    Tax assets   4,535 4,717
    Other assets   75,523 69,765
    Non-current assets held for sale   39,940 1,763
    Investments accounted for using the equity method   384 227
    Tangible and intangible fixed assets   60,970 60,714
    Goodwill   5,031 4,949
    Total   1,579,587 1,554,045
    In EUR m   30.09.2024 31.12.2023
    Due to central banks   10,134 9,718
    Financial liabilities at fair value through profit or loss   391,788 375,584
    Hedging derivatives   14,621 18,708
    Debt securities issued   162,997 160,506
    Due to banks   105,320 117,847
    Customer deposits   526,100 541,677
    Revaluation differences on portfolios hedged

    against interest rate risk

    		   (5,074) (5,857)
    Tax liabilities   2,516 2,402
    Other liabilities   93,909 93,658
    Non-current liabilities held for sale   29,802 1,703
    Insurance contracts related liabilities   150,295 141,723
    Provisions   3,954 4,235
    Subordinated debts   15,985 15,894
    Total liabilities   1,502,347 1,477,798
    Shareholder’s equity   – –
    Shareholders’ equity, Group share   – –
    Issued common stocks and capital reserves   21,166 21,186
    Other equity instruments   8,918 8,924
    Retained earnings   34,074 32,891
    Net income   3,160 2,493
    Sub-total   67,318 65,494
    Unrealised or deferred capital gains and losses   128 481
    Sub-total equity, Group share   67,446 65,975
    Non-controlling interests   9,794 10,272
    Total equity   77,240 76,247
    Total   1,579,587 1,554,045

    10.    APPENDIX 2: METHODOLOGY

    1 –The financial information presented for the third quarter and nine-month 2024 was examined by the Board of Directors on October 30th, 2024 and has been prepared in accordance with IFRS as adopted in the European Union and applicable at that date. This information has not been audited.

    2 – Net banking income

    The pillars’ net banking income is defined on page 42 of Societe Generale’s 2024 Universal Registration Document. The terms “Revenues” or “Net Banking Income” are used interchangeably. They provide a normalised measure of each pillar’s net banking income taking into account the normative capital mobilised for its activity.

    3 – Operating expenses

    Operating expenses correspond to the “Operating Expenses” as presented in note 5 to the Group’s consolidated financial statements as at December 31st, 2023. The term “costs” is also used to refer to Operating Expenses. The Cost/Income Ratio is defined on page 42 of Societe Generale’s 2024 Universal Registration Document.

    4 – Cost of risk in basis points, coverage ratio for doubtful outstandings

    The cost of risk is defined on pages 43 and 770 of Societe Generale’s 2024 Universal Registration Document. This indicator makes it possible to assess the level of risk of each of the pillars as a percentage of balance sheet loan commitments, including operating leases.

    In EURm   Q3 24 Q3 23 9M 24 9M 23
    French Retail, Private Banking and Insurance Net Cost Of Risk 178 144 597 342
    Gross loan Outstandings 234,420 243,740 236,286 248,757
    Cost of Risk in bp 30 24 34 18
    Global Banking and Investor Solutions Net Cost Of Risk 27 14 29 (8)
    Gross loan Outstandings 163,160 167,057 163,482 170,165
    Cost of Risk in bp 7 3 2 (1)
    Mobility, International Retail Banking & Financial Services Net Cost Of Risk 201 175 572 349
    Gross loan Outstandings 168,182 162,873 167,680 145,227
    Cost of Risk in bp 48 43 45 32
    Corporate Centre Net Cost Of Risk (1) (17) (6) (19)
    Gross loan Outstandings 25,121 22,681 24,356 19,364
    Cost of Risk in bp (1) (31) (3) (13)
    Societe Generale Group Net Cost Of Risk 406 316 1,192 664
    Gross loan Outstandings 590,882 596,350 591,804 583,512
    Cost of Risk in bp 27 21 27 15

    The gross coverage ratio for doubtful outstandings is calculated as the ratio of provisions recognised in respect of the credit risk to gross outstandings identified as in default within the meaning of the regulations, without taking account of any guarantees provided. This coverage ratio measures the maximum residual risk associated with outstandings in default (“doubtful”).

    5 – ROE, ROTE, RONE

    The notions of ROE (Return on Equity) and ROTE (Return on Tangible Equity), as well as their calculation methodology, are specified on pages 43 and 44 of Societe Generale’s 2024 Universal Registration Document. This measure makes it possible to assess Societe Generale’s return on equity and return on tangible equity.
    RONE (Return on Normative Equity) determines the return on average normative equity allocated to the Group’s businesses, according to the principles presented on page 44 of Societe Generale’s 2024 Universal Registration Document.
    Group net income used for the ratio numerator is the accounting Group net income adjusted for “Interest paid and payable to holders if deeply subordinated notes and undated subordinated notes, issue premium amortisation”. For ROTE, income is also restated for goodwill impairment.
    Details of the corrections made to the accounting equity in order to calculate ROE and ROTE for the period are given in the table below:

    ROTE calculation: calculation methodology

    End of period (in EURm) Q3 24 Q3 23 9M 24 9M 23
    Shareholders’ equity Group share 67,446 68,077 67,446 68,077
    Deeply subordinated and undated subordinated notes (8,955) (11,054) (8,955) (11,054)
    Interest payable to holders of deeply & undated subordinated notes, issue premium amortisation(1) (45) (102) (45) (102)
    OCI excluding conversion reserves 560 853 560 853
    Distribution provision(2) (1,319) (1,059) (1,319) (1,059)
    Distribution N-1 to be paid – – – –
    ROE equity end-of-period 57,687 56,715 57,687 56,715
    Average ROE equity 57,368 56,572 56,896 56,326
    Average Goodwill(3) (4,160) (4,279) (4,079) (3,991)
    Average Intangible Assets (2,906) (3,390) (2,933) (3,128)
    Average ROTE equity 50,302 48,903 49,884 49,207
             
    Group net Income 1,367 295 3,160 2,063
    Interest paid and payable to holders of deeply subordinated notes and undated subordinated notes, issue premium amortisation (165) (165) (521) (544)
    Cancellation of goodwill impairment – 338 – 338
    Adjusted Group net Income 1,202 468 2,639 1,858
    ROTE 9.6% 3.8% 7.1% 5.0%

    151617

    RONE calculation: Average capital allocated to Core Businesses (in EURm)

    In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change
    French Retail , Private Banking and Insurance 15,695 15,564 +0.8% 15,602 15,457 +0.9%
    Global Banking and Investor Solutions 15,490 15,324 +1.1% 15,149 15,485 -2.2%
    Mobility, International Retail Banking & Financial Services 10,433 10,136 +2.9% 10,425 9,505 +9.7%
    Core Businesses 41,618 41,024 +1.4% 41,177 40,448 +1.8%
    Corporate Center 15,750 15,548 +1.3% 15,719 15,878 -1.0%
    Group 57,368 56,572 +1.4% 56,896 56,326 +1.0%

    6 – Net assets and tangible net assets

    Net assets and tangible net assets are defined in the methodology, page 45 of the Group’s 2024 Universal Registration Document. The items used to calculate them are presented below:
    1819

    End of period (in EURm) 9M 24 H1 24 2023
    Shareholders’ equity Group share 67,446 66,829 65,975
    Deeply subordinated and undated subordinated notes (8,955) (9,747) (9,095)
    Interest of deeply & undated subordinated notes, issue premium amortisation(1) (45) (19) (21)
    Book value of own shares in trading portfolio 97 96 36
    Net Asset Value 58,543 57,159 56,895
    Goodwill(2) (4,178) (4,143) (4,008)
    Intangible Assets (2,895) (2,917) (2,954)
    Net Tangible Asset Value 51,471 50,099 49,933
           
    Number of shares used to calculate NAPS(3) 796,498 787,442 796,244
    Net Asset Value per Share 73.5 72.6 71.5
    Net Tangible Asset Value per Share 64.6 63.6 62.7

    7 – Calculation of Earnings Per Share (EPS)

    The EPS published by Societe Generale is calculated according to the rules defined by the IAS 33 standard (see page 44 of Societe Generale’s 2024 Universal Registration Document). The corrections made to Group net income in order to calculate EPS correspond to the restatements carried out for the calculation of ROE and ROTE.
    The calculation of Earnings Per Share is described in the following table:

    Average number of shares (thousands) 9M 24 H1 24 2023
    Existing shares 802,314 802,980 818,008
    Deductions      
    Shares allocated to cover stock option plans and free shares awarded to staff 4,548 4,791 6,802
    Other own shares and treasury shares 2,930 3,907 11,891
    Number of shares used to calculate EPS(4) 794,836 794,282 799,315
    Group net Income (in EUR m) 3,160 1,793 2,493
    Interest on deeply subordinated notes and undated subordinated notes (in EUR m) (521) (356) (759)
    Adjusted Group net income (in EUR m) 2,638 1,437 1,735
    EPS (in EUR) 3.32 1.81 2.17

    20
    8 – The Societe Generale Group’s Common Equity Tier 1 capital is calculated in accordance with applicable CRR2/CRD5 rules. The fully loaded solvency ratios are presented pro forma for current earnings, net of dividends, for the current financial year, unless specified otherwise. When there is reference to phased-in ratios, these do not include the earnings for the current financial year, unless specified otherwise. The leverage ratio is also calculated according to applicable CRR2/CRD5 rules including the phased-in following the same rationale as solvency ratios.

    9 – Funded balance sheet, loan to deposit ratio

    The funded balance sheet is based on the Group financial statements. It is obtained in two steps:

    • A first step aiming at reclassifying the items of the financial statements into aggregates allowing for a more economic reading of the balance sheet. Main reclassifications:

    Insurance: grouping of the accounting items related to insurance within a single aggregate in both assets and liabilities.
    Customer loans: include outstanding loans with customers (net of provisions and write-downs, including net lease financing outstanding and transactions at fair value through profit and loss); excludes financial assets reclassified under loans and receivables in accordance with the conditions stipulated by IFRS 9 (these positions have been reclassified in their original lines).
    Wholesale funding: Includes interbank liabilities and debt securities issued. Financing transactions have been allocated to medium/long-term resources and short-term resources based on the maturity of outstanding, more or less than one year.
    Reclassification under customer deposits of the share of issues placed by French Retail Banking networks (recorded in medium/long-term financing), and certain transactions carried out with counterparties equivalent to customer deposits (previously included in short term financing).
    Deduction from customer deposits and reintegration into short-term financing of certain transactions equivalent to market resources.

    • A second step aiming at excluding the contribution of insurance subsidiaries, and netting derivatives, repurchase agreements, securities borrowing/lending, accruals and “due to central banks”.

    The Group loan/deposit ratio is determined as the division of the customer loans by customer deposits as presented in the funded balance sheet.

    NB (1) The sum of values contained in the tables and analyses may differ slightly from the total reported due to rounding rules.
    (2) All the information on the results for the period (notably: press release, downloadable data, presentation slides and supplement) is available on Societe Generale’s website www.societegenerale.com in the “Investor” section.

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for nearly 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com. or visit our website societegenerale.com.

    Asterisks* in the document refer to data at constant perimeter and exchange rates
    1 +5.8% excluding exceptional proceeds recorded in Corporate Centre (~EUR 0.3bn)
    2 Including IFRS 9 phasing, proforma including Q3 24 results
    3 Based on a pay-out ratio of 50% of the Group net income, at the high-end of the 40%-50% pay-out ratio, as per regulation, restated from non-cash items and after deduction of interest on deeply subordinated notes and undated subordinated notes
    4 As stated in Q2 24 results press release
    5 Ratio calculated according to European Banking Authority (EBA) methodology published on 16 July 2019
    6 Ratio excluding loans outstanding of companies currently being disposed of in compliance with IFRS 5
    7 Ratio of S3 provisions, guarantees and collaterals over gross outstanding non-performing loans
    8 Target: -80% upstream exposure reduction by 2030 vs. 2019, with an intermediary step in 2025 at -50% vs. 2019
    9 Only the Societe Generale participation is taken into account
    10 Including IFRS 9 phasing, proforma including Q3 24 results
    11 France and International, including Switzerland and United Kingdom
    1 Including entities reported under IFRS 5
    1 Excluding non-recurring items on either margins or UCS (mainly linked to fleet revaluation at EUR 114m in Q3 23 vs EUR 0m in Q3 24, the net impact related to prospective depreciation and Purchase Price Allocation for ~EUR 35m vs. Q3 23, hyperinflation in Turkey at EUR 46m in Q3 23 vs. EUR 10m in Q3 24 and MtM of derivatives at EUR -82m in Q3 23 vs. EUR -55m in Q3 24)
    14 As stated in Q2 24 results press release
    15 Interest net of tax
    16 The dividend to be paid is calculated based on a pay-out ratio of 50%, restated from non-cash items and after deduction of interest on deeply subordinated notes and on undated subordinated notes
    17 Excluding goodwill arising from non-controlling interests
    18 Interest net of tax
    19 Excluding goodwill arising from non-controlling interests
    20 The number of shares considered is the number of ordinary shares outstanding at end of period, excluding treasury shares and buybacks, but including the trading shares held by the Group (expressed in thousand of shares)
    4 The number of shares considered is the average number of ordinary shares outstanding during the period, excluding treasury shares and buybacks, but including the trading shares held by the Group.

    Attachment

    The MIL Network –

  • MIL-OSI: Societe Generale: Managerial changes within the Group

    Source: GlobeNewswire (MIL-OSI)

    SOCIETE GENERALE: MANAGERIAL CHANGES WITHIN THE GROUP

    Press release
    Paris, 31 October 2024

    Societe Generale announces managerial changes within the Group.

    Within General Management:

    Following a proposal by Slawomir Krupa, Chief Executive Officer, the Societe Generale Board of Directors, under the chairmanship of Lorenzo Bini Smaghi, approved on 30 October 2024 the reduction of the number of General Management executive officers to two: Slawomir Krupa, Chief Executive Officer, and Pierre Palmieri, Deputy Chief Executive Officer.

    Philippe Aymerich, Deputy Chief Executive Officer, will step down from his role on 31 October 2024. 

    As part of this change, Slawomir Krupa will assume direct supervision of Retail Banking activities in France (SG Network and BoursoBank), Private Banking, and Insurance.

    Within Retail Banking and Private Banking:

    Bertrand Cozzarolo and Thierry Le Marre are appointed Co-Heads of the SG Retail Banking network in France, effective 1 November 2024. They have been serving Societe Generale and its clients since 2004 and 1998, respectively. Their extensive experience in retail banking activities in France and abroad, as well as their direct contribution to the development of SG Retail Banking, will be essential assets in implementing our ambitious commercial roadmap to deliver sustainable performance.

    They replace Marie-Christine Ducholet, who will pursue projects outside the Group, effective 31 October 2024.

    Mathieu Vedrenne is appointed Head of Private Banking activities, effective 1 November 2024, replacing Bertrand Cozzarolo. At the service of the Group and its clients since 2001, he is currently Deputy Head of Private Banking, with particular responsibility for Private Banking in France, where he has successfully led its many years of sustainable growth.

    Within Financial Management:

    Leopoldo Alvear is appointed Chief Financial Officer of the Group, effective 7 January 2025. He will also become a member of the Group Executive Committee. With over 27 years of banking experience, including 12 years as head of financial departments at banking institutions (successively at Bankia and currently at Banco Sabadell), Leopoldo Alvear has demonstrated outstanding professional and leadership qualities.

    He will succeed Claire Dumas, who will ensure a seamless transition of the Chief Financial Officer duties until the end of January 2025, before pursuing professional opportunities outside the Group.

    The role of the Chief Financial Officer remains a direct report to Slawomir Krupa.

    Slawomir Krupa, Chief Executive Officer, comments: “Over the past 18 months, we have initiated numerous transformation, development and efficiency initiatives to strengthen our Group and increase the sustainability of our performance. We are already realizing the tangible benefits in our results. The trajectory of our improvement is clear, and our determination is unwavering.
    I would like to warmly thank Philippe and Marie-Christine for their commitment throughout the many years they have served our Group, and I wish them every success in their new projects.
    I am proud to promote our internal talents, Bertrand, Thierry and Mathieu, to continue building the new model of our SG Network in France while also developing our Private Banking activities, and strengthening commercial dynamics, synergies, and financial performance of our retail banking activities in France.
    I would also like to thank Claire for all the work she has done for Societe Generale over the past two decades, which she will continue during the transition period until the end of January.
    I am delighted to welcome Leopoldo to our team starting 7 January. His experience as a chief financial officer of other banking institutions, as well as his professional and personal qualities, will be valuable assets in ensuring the flawless execution of our strategic plan.
    Our ambition remains the same: to build a stronger and more profitable bank and create more long-term value for all our stakeholders.”

    Press contact:
    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com

    Biographies

      Bertrand Cozzarolo began his career in 2000 in the General Inspection teams of the Ministry of Finance before joining Societe Generale in 2004 as a financial analyst. He subsequently held several management positions within retail banking subsidiaries in Egypt and Bulgaria before returning to France in 2011 as Executive Management Chief of Staff. In 2015, he joined Retail Banking in France, where he held various key positions in commercial management and customer relations before being appointed as the Commercial and Marketing Director in 2021. In December 2022, he was appointed as the Head of Societe Generale Private Banking.
    He is a graduate of the Paris Institute of Political Studies and a former student of the National School of Administration.

     
      Thierry Le Marre began his career in 1990 as a consultant at Coopers & Lybrand before joining the Societe Generale Group in 1998 in the Organization department. In 2002, he became the Chief of Staff of the Chairman and Secretary of the Board of Directors. From 2007 to 2014, he held various management positions in international consumer credit activities. In 2014, he joined retail banking in France, where he successively led two regional delegations. In January 2021, he was appointed co-responsible for the “Clients and network organization” project within the merger project between Credit du Nord and Societe Generale. He has been the Regional Director of SG Societe Generale Ile-de-France Sud since 2023.
    He is a graduate of the Paris Institute of Political Studies.

     
      Mathieu Vedrenne began his career as a consultant at PriceWaterhouseCoopers in 1998 before joining the General Inspection of Societe Generale in 2001, and then the Strategy Department in 2005. In 2008, he was appointed as Executive Management Chief of Staff. He joined Private Banking in 2011, where he held several positions in Switzerland and France and contributed to the commercial development of the activities. He has been Head of Societe Generale Private Banking France since 2019 and Deputy Head of Private Banking since 2023.
    He is a graduate of the Swiss Federal Institute of Technology Lausanne (EPFL).

     

     
      Leopoldo Alvear has over 27 years of experience in financial services. Since 2021, he has been the General Manager and Chief Financial Officer of Banco Sabadell. Previously, he spent 11 years at Bankia, where he successively held the positions of first Head of Financial Management & Rating, and then, since 2012 Group CFO. He began his career at PWC in Corporate Finance before joining Caja Madrid as head of Equity Capital Markets.
    He is a graduate of the Complutense University of Madrid.

     

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network –

  • MIL-OSI Europe: Commission reports on progress and priorities for candidate countries to join EU

    Source: European Union 2

    The Commission has adopted the 2024 enlargement reports, which offer a detailed assessment of the state of play and the progress made by the countries seeking to join the European Union. The reports also provide guidance on key reform priorities for each country.

    The reports cover:

    • Georgia
    • Moldova
    • Türkiye
    • Ukraine
    • Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia)

    The enlargement process gained new momentum throughout 2023 and 2024 with several enlargement countries making progress on their respective paths towards EU accession. However, countries must focus on accelerating structural reforms to enable sustainable growth and make progress in meeting the economic criteria for EU membership. This involves ensuring functioning market economies and demonstrating they can withstand the competitive pressures of the EU market. Additionally, their economic policies should align with the green and digital transition goals.

    The enlargement process is merit-based and depends on the progress made by each of the partners. They must implement irreversible reforms in all areas of EU law, with special emphasis on the fundamentals of the enlargement process. The EU supports the enlargement countries through financing instruments and tools. In addition to the Economic and Investment Plan, the €6 billion Reform and Growth Facility for the Western Balkans and the €50 billion Ukraine Facility aim to bring forward some of the benefits of single market access to these countries before they join the EU. Similarly, the recent €1.8 billion Growth Plan for Moldova will support its socio-economic reforms and boost investment.

    For more information

    Press release: Commission adopts 2024 Enlargement Package

    2024 Communication on EU Enlargement Policy

    How enlargement works

    Factsheet on the EU accession process

    Economic and Investment Plan for Western Balkans

    New Growth Plan for the Western Balkans

    Ukraine Facility

    Growth Plan for Moldova

    Albania: Report; Country factsheet

    Bosnia and Herzegovina:  Report; Country factsheet

    Kosovo:  Report; Country factsheet

    Montenegro:  Report; Country factsheet

    North Macedonia: Report; Country factsheet

    Serbia: Report; Country factsheet

    Georgia: Report; Country factsheet

    Moldova: Report; Country factsheet

    Ukraine:  Report; Country factsheet

    Türkiye:  Report; Country factsheet

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Difference in energy prices between the western and eastern EU – E-002097/2024

    Source: European Parliament

    16.10.2024

    Question for written answer  E-002097/2024/rev.1
    to the Commission
    Rule 144
    Daniel Buda (PPE)

    Romania is facing significantly higher energy prices than western European countries, and this is putting additional pressure on its economy and its population. The situation is a result of a number of factors, such as a year of drought, which affected hydroelectricity production, and other region-specific difficulties.

    Given the circumstances, Romania is considering seeking EU financial support from the Council of Ministers, in order to counter the effects of these significant energy price hikes.

    • 1.In view of the European Union’s objectives of ensuring economic and social cohesion between Member States, what steps is the Commission contemplating to support Romania and other countries affected by these imbalances in the energy sector?
    • 2.Is the Commission planning to provide financial support or introduce policies that narrow the gap between energy prices in eastern and western Europe so as to ensure a fair and sustainable transition for all EU regions?

    Submitted: 16.10.2024

    Last updated: 31 October 2024

    MIL OSI Europe News –

  • MIL-OSI Video: Kosovo: Aspiration for reconstructive dialogue – Security Council Briefing | United Nations

    Source: United Nations (Video News)

    Briefing by Caroline Ziadeh, Special Representative of the Secretary-General and Head of the United Nations Interim Administration Mission in Kosovo, on the situation in Kosovo.

    —————————

    UN Special Representative for Kosovo Caroline Ziadeh said that although the situation on the ground remains fragile, in her engagements with officials in Belgrade and Pristina, as well as with partners, she sees hope for a constructive dialogue and peaceful relations.

    Briefing the Security Council today (30 Oct) about the UN Interim Administration Mission in Kosovo (UNMIK), Ziadeh said, “Advancing and safeguarding human rights is at the very core of our mission in Kosovo. Against the background of recent developments, strengthening measures to further promote equality and non-discrimination are pivotal, in particular in upholding property rights, preserving cultural heritage, and fully observing the language rights of all communities.”

    She also said, “A year since the serious security incident in Banjska/Banjskë, I continue to call for timely accountability for perpetrators through thorough, fair, transparent and independent judicial processes, which are essential for fostering stability. Such violence is unacceptable and should not be repeated.”

    She continued, “In this regard, we note that the initial hearing on this case was conducted on the 9th of October at the basic court of Pristina against the three defendants who are in custody, out of a total of 45 accused in the indictment, who face a range of charges, including terrorism.”

    She noted, “Serbian goods have now resumed crossing into Kosovo. It is imperative that the current bottlenecks will be expeditiously addressed. This recent progress underscores the potential for deeper work toward regional integration via constructive diplomatic compromises.”

    https://www.youtube.com/watch?v=OMKdRFPxGuE

    MIL OSI Video –

  • MIL-OSI Security: From Lone Stars to Allies – NATO fighter pilots train in Texas

    Source: NATO

    Wichita Falls, Texas is home to the Euro-NATO Joint Jet Pilot Training Program, where aspiring aviators from 14 NATO member countries see if they have what it takes to fly with the Alliance’s best.

    The home of a transatlantic training mission

    Wichita Falls doesn’t seem like a place that should mean anything to a European fighter pilot. But if you were to ask Jade, a lieutenant in the Belgian Air Force, if she’s ever heard of the place, she might give you a knowing smirk.

    It’s where she learned to fly.

    The sky over Sheppard Air Force Base thundered as sleek jets knifed through the air, breaking left over the runway in preparation for landing. Home of the US Air Force’s 80th Flying Training Wing, Sheppard owns the busiest airspace in the United States. Planes are constantly landing, taking off or queueing on the long taxiways. A bumper sticker on the back of one car reads: “I Heart Jet Noise.”

    The Euro-NATO Joint Jet Pilot Training Program (ENJJPT) has been turning out NATO fighter pilots since 1981, when seven Allies founded the school at Sheppard Air Force Base in Wichita Falls. Most joint NATO initiatives are based in Europe (where 30 of the 32 NATO member countries are located), but Sheppard was chosen as the ideal location for ENJJPT because of its existing training facilities, year-round good flying weather and the wide-open Texan skies. Today, more than 40 years later, 14 national flags fly outside the squat, brick building that houses ENJJPT’s headquarters, representing the 14 participating NATO Allies: Belgium, Canada, Denmark, Germany, Greece, Italy, the Netherlands, Norway, Portugal, Romania, Spain, Türkiye, the United Kingdom and the United States.

    Inside, Italian pilots saunter through the maze-like corridors, passing groups of Romanians, Norwegians, Spaniards and Danes. In the gear room, Greek instructors put on their flight vests and G-Suits (trousers lined with inflatable air pockets that keep pilots conscious during high-speed turns) and wait for their students. On their way out, they pass groups of Canadian and Turkish students coming back from training sorties, their hair matted with sweat, their faces flushed with victory: it’s another flight down, another step closer to their wings.

    Ask one of the European student aviators how they like living in the Lone Star State, and they’ll twist their mouth into a curious smile and say something like: “I like it.” Which might be a polite way of saying: I’m from a small village in Germany and I’ve never heard someone say “yeehaw” before.

    Fixin’ to fly – A rigorous training schedule

    Not that the students get many chances to sample the local culture. From the moment they arrive at Sheppard and drop their suitcases, their schedules are packed. First stop is “ground school”, where students learn the fundamental science of flight. Then students get fitted for helmets, harnesses and G-suits and climb into their first aircraft, the T-6 Texan II.

    With the instructors watching from the backseat, this is where the student aviators take the stick for the first time. They learn how to take off, fly in formation and land, keeping the aircraft on speed and on course. It’s a time of firsts, each with its own tradition: a student’s first flight is called a “Dollar Ride” because students are expected to give their instructors a Silver Dollar coin. After a student’s first solo flight, their classmates haul them off to a nearby pool of water for a well-deserved bath.

    From here, some students leave Wichita Falls to learn how to fly multi-engine transport aircraft like the C-130 Hercules. Those destined for fighter jets, however, must conquer the T-38 Talon.

    Save a horse, ride a jet plane – training with the Talon

    The Talon is skinny as a scalpel, with wings so thin they seem to disappear when viewed head-on. Its long snout slopes up to a bubble canopy, which encloses two ejection seats. It looks fast, and it is; with afterburners lit, it can punch through the sound barrier and send a sonic boom smashing across the north Texas Plains. One Dutch Major, callsign “Homer”, compares it to a ’66 Mustang sports car – fitting, he notes, because the Talon first entered service in the 1960s.

    The jet will be replaced in the coming years, but in the meantime it’s still a worthy teacher. Its hydraulic flight controls demand that students pay attention, feeling the jet through the stick and continuously “trimming out” to ensure balanced flight. Its stubby wings are built for maximum speed, not maximum stability, and if the inattentive student bleeds too much speed in a turn, it will fall out of the sky – or, as the instructors prosaically put it, “depart controlled flight.”

    When Lieutenant Jade first took off in a Talon, she was used to the T-6 Texan II, and she wasn’t ready for the raw power pumped out by the jet’s two turbojet engines. She had to stand on the brakes to keep the aircraft static as she pushed the throttle to “mil” – full military power. She felt the aircraft tremor as the afterburners lit. When she released the brakes, the jet leapt forward.

    “For me, that day was like… I knew I was on the right track,” she said.

    Getting back in the saddle

    The Talon curriculum is the hardest part of ENJJPT. When students aren’t flying, they’re studying. When they aren’t studying, they’re in the simulator, practising skills like flying in close formation, or the thrill of high-speed, low-level flight. And when they’re not in the simulator, they’re sleeping.

    “Sometimes it’s a bit too fast, and I have to catch up,” Jade said. “That’s the biggest struggle I’ve had so far. That gets me feeling down about it, sometimes. But then it’s even more rewarding when you’re able to step up and strive again.”

    The students know that success is not guaranteed. Plenty of their peers buckle under the stress and leave the Program to serve out their military commitments elsewhere in their country’s armed forces. But for most, failure is not an option. Washing out would mean turning their back on something that’s called to them all their life.

    “Everyone wishes to have an impact on the world,” Jade said. “That’s how I think I can make the biggest impact.”

    Earning their wings

    If a student proves that they can master the demands of high-speed flight in the Talon, they head towards “Drop Night” – the ceremony where they find out which jet they’re going to fly. For the US Air Force, which operates a variety of fighter, bomber and transport aircraft, the suspense is real. When a student is assigned to their first-pick aircraft, some literally leap with joy and relief.

    For Jade, there was little suspense – the Belgian Air Force primarily flies one tactical jet, the F-16 Fighting Falcon multirole fighter, although Belgium is now replacing its F-16 fleet with F-35 Lightning II fifth-generation stealth fighters – but the glee in having passed a demanding curriculum was undiluted. When she “dropped” the F-16, she leapt into the air, pumping her fists before being carried away by her cheering classmates.

    Jade has since left Sheppard to learn how to fly the F-16. Eventually, perhaps, she’ll be deployed to eastern Europe, where NATO Allies have significantly increased the number of fighters on standby to respond to airborne threats, part of the NATO Air Policing mission on the Alliance’s eastern flank. Until then, the next generation of aspiring military aviators has already begun training at Sheppard, joining a decades-long tradition of taking to the skies together.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Kosovo and Serbia must show their commitment to cooperation and dialogue: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Statement by Fergus Eckersley, UK Minister Counsellor, at the UN Security Council meeting on UNMIK.

    Location:
    United Nations, New York
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    Let me begin by thanking the Special Representative for the work she and her team are doing to promote stability and respect for human rights in Kosovo.

    The UK is a long-standing supporter of Kosovo’s sovereignty and independence. We remain committed to supporting an inclusive, diverse and multi-ethnic democracy in Kosovo.

    We welcome, for example, Kosovo’s efforts to recruit police officers from non-majority communities, and its commitment to tackling Conflict Related Sexual Violence including through its leadership of the International Forum for Women, Peace and Security.

    Yet for many years the absence of a normal relationship between Kosovo and Serbia has negatively impacted the lives of individuals living in both countries and impacted regional stability.

    In recent weeks we’ve seen positive steps towards greater cooperation. This includes easing restrictions on Serbian imports into Kosovo, and the agreement securing Kosovo representation in the Central European Free Trade Agreement. 

    We are, however, concerned that progress in the EU-facilitated dialogue has been faltering. We call upon both parties to reaffirm their commitment to the EU-facilitated dialogue and we echo the Secretary-General’s call for greater participation of women in the process.

    It is important that both sides demonstrate the political will and the courage to fully implement existing agreements under the dialogue, including the establishment of an Association of Serb-Majority Municipalities.

    At the same time, it is important for all sides to avoid actions which could jeopardise such progress. We urge Kosovo to carefully consider the impact of its decisions on all its citizens including those from non-majority communities and to work with its partners.

    And we urge Serbia to play its part in supporting efforts to ensure justice and accountability for the perpetrators of last year’s shocking attack in Banjska and to play a constructive role in reducing tensions and promoting positive relations in the region.

    I would like to end by expressing the UK’s gratitude to the Special Representative and all Mission staff who have contributed to UNMIK’s work over the last 25 years.

    Promoting dialogue and trust-building between Kosovo’s communities is and remains vital.

    However, it has been over sixteen years since Kosovo’s independence and the situation is unrecognisable from 1999. It is therefore time for this Council to review UNMIK’s role to reflect conditions on the ground.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI: CEO Emre Gürsoy leaves Agillic and Christian Samsø is appointed new CEO

    Source: GlobeNewswire (MIL-OSI)

    Announcement no. 08 2024
    Inside information

    Copenhagen – 30 October 2024 – Agillic A/S

    The Board of Directors of Agillic A/S (“Agillic”) informs that CEO Emre Gürsoy leaves the company, and that
    Christian Samsø is appointed new CEO of Agillic.

    Mr. Samsø has served as Chief Sales Officer and in the Management Team of Agillic since late September 2024. His previous experience includes positions as CEO of Goodiebox, CEO of CBIT and he holds a board position in MapsPeople.

    Christian Samsø will take up the position as CEO, and Emre Gürsoy will leave the company with immediate effect.

    For further information, please contact:
    Joar Welde, Chair of the Board of Directors
    Joar.Welde@vikingventure.com

    Certified Adviser
    John Norden, Norden CEF A/S

    About Agillic A/S
    Agillic is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create. automate and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark, with teams in Germany, Norway, and Romania.
    For further information, please visit www.agillic.com  

    Attachment

    The MIL Network –

  • MIL-OSI Europe: Commission adopts 2024 Enlargement Package

    Source: European Commission

    European Commission Press release Brussels, 30 Oct 2024 Today, the European Commission adopted its annual Enlargement Package, providing a detailed assessment of the state of play and the progress made by Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia, Georgia, the Republic of Moldova, Ukraine and Türkiye

    MIL OSI Europe News –

  • MIL-OSI Video: CMV and VAHA’s Hispanic Heritage Month Second Event

    Source: United States of America – Federal Government Departments (video statements)

    We are honored to have special guests from diverse backgrounds: The Honorable James D. Rodriguez, Assistant Secretary, Department of Labor, Veterans Employment & Training Service (VETS), Silvana Montenegro with JPMorgan Chase, Head of Advancing Hispanics & Latinos, and Roman Palomares, League of United Latin American Citizens (LULAC) National President. We also presented on how “Food is Medicine,” displaying some traditional cuisine and other special guests.

    https://www.youtube.com/watch?v=Atl7Uk6lPPw

    MIL OSI Video –

  • MIL-OSI Security: NATO Acting Deputy Secretary General to visit Croatia

    Source: NATO

    On Wednesday, 30 October 2024, the NATO Acting Deputy Secretary General, Ambassador Boris Ruge, will travel to Zagreb, Croatia.

    Ambassador Ruge will meet with the Prime Minister, Mr Andrej Plenković, and the Deputy Prime Minister and Minister of Defence, Mr Ivan Anušić.

    He will also attend a joint session of the Foreign Affairs Committee and the Delegation of the Croatian Parliament to the NATO Parliamentary Assembly (NPA), at the Croatian Parliament.

    The event will be streamed live on the Croatian Parliament’s YouTube channel.

    For more information:

    For general queries: contact the NATO Press Office
    Follow us on X: @NATO, @RugeBoris and @NATOPress

    MIL Security OSI –

  • MIL-OSI Europe: Written question – High electricity prices in Romania and other countries in south-east Europe – P-002260/2024

    Source: European Parliament

    24.10.2024

    Priority question for written answer  P-002260/2024
    to the Commission
    Rule 144
    Mihai Tudose (S&D)

    The European Council meeting of 17-18 October 2024 assessed the high electricity prices in several EU countries and called on the Commission to urgently bring forward proposals to address this issue.

    It is regrettable, to say the least, that the Council should need to intervene, as the Commission was aware of these high energy prices, especially in Romania, Bulgaria and Greece.

    How and when does the Commission plan to take action, particularly as regards the lack of storage capacity and inadequate cross-border infrastructure in south-east Europe?

    Quite apart from the social and economic implications of this situation, the Commission should be aware of the strategic dimension of dysfunctions in the energy sector in our region.

    Submitted: 24.10.2024

    Last updated: 30 October 2024

    MIL OSI Europe News –

  • MIL-OSI Security: Defense News: Strengthening Alliances Through Learning, NPS Hosts European International Alumni Symposium

    Source: United States Navy

    The symposium, sponsored in part by the Department of State as part of the U.S. International Military Education Training (IMET) program, is in direct support of the Secretary of the Navy Carlos Del Toro’s strategic priorities to strengthen international alliances for collective defense. It also supports the “Enhance Partnerships” objective in the Naval Education Strategy by offering opportunities to learn alongside our allies and partners, which is a key component to succeeding in deterring conflict and the strategic power competition.

    “In so many ways, [educational institutions] are the engines of what happens in the future,” said Adm. Stuart Munsch, commander of U.S. Naval Forces Europe-Africa and commander of Allied Joint Force Command Naples, during his welcoming remarks. “They not only equip individuals with the skill sets to think about particular knowledge areas but, more broadly, to think critically and strategically. These institutions are what provide this foundation for our future, and the Naval Postgraduate School is among them.”

    Building on the Indo-Pacific NPS Alumni Symposium held last year, the European symposium agenda spanned a full three days, packed with plenary sessions, panels, and keynote addresses, which included discussions ranging from energy security and space systems to contested logistics and climate change. NPS faculty presented and discussed cutting-edge research in emerging defense technologies, furthering academic collaboration, shared learning, and strategic engagement with international partners.

    Beyond the formal sessions and professional exchange, the symposium also provided an opportunity to advance important relationships, maritime statecraft, and reconnect NPS with its global community of alumni.

    “These relationships matter and continuing to cultivate them matters because our alumni network is a vital resource,” said U.S. Army Gen. Christopher Cavoli, Supreme Allied Commander and Commander, U.S. European Command. “It provides us with an unparalleled opportunity to share knowledge, exchange ideas, and foster innovation all around the globe.”

    In addition to robust discussions on security and defense, participants valued the chance to reconnect with former classmates, professors, and new colleagues from across Europe.

    “NPS helped us reach a deeper understanding of where we’re going together. In terms of cooperative security and collective defense right now, NPS is very well represented in key positions in NATO, not only in the operational side of the house but also in the future planning,” said Maj. Gen. Claudiu Dobocan, commander, Romanian Special Operations Command and a 2004 NPS Defense Analysis graduate. “NPS is on the forefront for relation building but also on the front of conceptual theories which will push forward NATO and U.S. instruments.”

    Among the many discussions held during the event, one key session focused on climate and energy security in Europe, featuring panelist Kristen Fletcher of NPS’ Energy Academic Group who highlighted important ongoing research in the field. Symposium attendees and NPS faculty visited the Schneefernerhaus Environmental Research Station, Germany’s highest environmental research facility, where they learned about the facility’s history and ongoing climate research, which furthered the discussion.

    “This symposium has given us the chance to share global perspectives on climate security,” Fletcher said. “The research shared with us today on increasing greenhouse gas emissions, along with physical observations of a nearly depleted glacier, highlights the need for awareness and partnerships to understand the impacts of climate change on military missions.”

    As the symposium concluded, participants expressed gratitude for the opportunity to reunite with old colleagues, meet new ones, and discuss shared challenges and opportunities for collaboration.

    NPS attracts students from around the globe, advancing their skills while also supporting the development of enduring personal connections. International alumni symposiums focus on strengthening those relationships while addressing present-day challenges, reaffirming the collective dedication to global security.

    “NPS gives us the opportunity to connect people from different countries, different cultures, building trust and the feeling that we are stronger together,” said 2024 Security Studies graduate Tea Nikolashvili, director, Defense Institution Building School, Ministry of Defense, Georgia. “Symposiums like this are an additional opportunity for us to communicate with our peers and widen our perspectives as well as build professional networks, supporting both national and international security objectives and implementation processes.”

    The event was organized by NPS’ International Graduate Programs Office (IGPO) with additional support from the NPS Foundation and Alumni Association. More than 7,000 students from nearly 130 countries have graduated from NPS since 1954. 

    “None of us are as strong as all of us,” said Danial Pick, director of IGPO. “Allied countries send their best to NPS, and they contribute so much to our learning beyond their coursework and research to enhance our culture and strengthen future alliances, which are so important today.” 

    Through the institution’s unique, defense-focused graduate education and research programs and a student body reaching all corners of the globe, NPS continues to drive knowledge and relevant innovation to enhance the strategic capabilities of the United States as well as its international partners. 

    “It was a privilege to collaborate with senior military representatives and NPS alumni from around the globe to discuss and execute the importance of strategic engagement among international partners,” said NPS President retired Vice. Adm. Ann Rondeau. “I want to express my sincere thanks to everyone who worked diligently to ensure the symposium was a success, especially to the George C. Marshall European Center for Security Studies and Director retired U.S. Air Force Maj. Gen. Barre R. Seguin for graciously co-hosting our first NPS European International Alumni Symposium – it was a great team effort!” 

    NPS, located in Monterey, California, provides defense-focused graduate education, including classified studies and interdisciplinary research, to advance the operational effectiveness, technological leadership, and warfighting advantage of the Naval service. Established in 1909, NPS offers master’s and doctorate programs to Department of Defense military and civilians, along with international partners, to deliver transformative solutions and innovative leaders through advanced education and research. For more information, visit NPS at https://nps.edu.

    Check out highlights and hear from symposium attendees in this recap of NPS’ first-ever European International Alumni Symposium, https://youtu.be/KSJq5QHAoC8. 

    MIL Security OSI –

  • MIL-OSI Europe: Written question – Edi Rama’s announcement at the UN General Assembly about the creation of a sovereign state for Bektashi Muslims in Tirana – E-002062/2024

    Source: European Parliament

    14.10.2024

    Question for written answer  E-002062/2024
    to the Commission
    Rule 144
    Fredis Beleris (PPE)

    Speaking at the UN General Assembly on Sunday 22 September 2024, Albanian Prime Minister Edi Rama announced his country’s plans to establish a sovereign Muslim microstate in Tirana.

    According to the information made available so far, this autonomous and independent state will be called Sovereign State of the Bektashi Order. It will have its own diplomatic documents, borders and a separate administrative structure. The new state within the Albanian state will only grant citizenship to Shia Muslims, members of the Sufi religious community.

    In view of the above:

    • 1.What is the Commission’s take on this potential new state and whether its creation is in breach of the agreements made in the context of Albania’s path to EU accession, and if it is, what additional criteria can be introduced?
    • 2.Does the creation of such a state, where there will be no elections, meet the Copenhagen political criteria, which every country must satisfy, namely stability of institutions that guarantee democracy, the rule of law, human rights and respect for and protection of minorities?
    • 3.What diplomatic moves will the Commission make to ensure the peaceful coexistence of all religious communities in Albania?

    Submitted: 14.10.2024

    Last updated: 29 October 2024

    MIL OSI Europe News –

  • MIL-OSI USA: Readout of U.S.-Croatia Bilateral Defense Consultations

    Source: United States Department of Defense

    Department of Defense Spokesman Cmdr. Javan Rasnake provided the following readout:

    On October 29, 2024, Ms. Lisa Sawyer, the Deputy Assistant Secretary of Defense (DASD) for European and NATO Policy in the Office of the Secretary of Defense, co-chaired the U.S.-Croatia Bilateral Defense Consultations (BDC) with Ms. Nikolina Volf, Deputy Director of Policy, Croatian Ministry of Defense. The meeting took place in the Pentagon in Washington, DC, and included participation from the Ministry of Defense and General Staff of Croatia, the U.S. Joint Staff, U.S. European Command, the Minnesota National Guard, the Defense Security Cooperation Agency, and the Department of State.

    Participants discussed global security, support to Ukraine, and bilateral security cooperation priorities, including exercises, training, military-to-military engagements, defense modernization initiatives, and Croatia’s longstanding State Partnership Program with the Minnesota National Guard.  Croatian defense officials provided their perspective on the security situation in the Western Balkans, their role within the North Atlantic Treaty Organization (NATO) Alliance including the fielding of a Heavy Brigade to meet a NATO capability, infrastructure development at its training ranges and ports, logistics cooperation, and combating malign influence in the Western Balkans. The United States thanked Croatia for a productive BDC and reaffirmed the importance of the EU-facilitated Dialogue as the best way to achieve a stable and secure Western Balkans.

    MIL OSI USA News –

  • MIL-OSI China: China-Bulgaria cultural ties strengthened with Dragon Boat exhibition

    Source: China State Council Information Office 3

    Xu Yan, vice mayor of Ningbo in Zhejiang province, presented the plaque for the “Dragon Boat Culture Exchange Base and Dragon Boat Culture Exhibition” to Evgenia Alexieva, mayor of Pancharevo district in Bulgaria on Monday, marking a new phase in cultural exchange between China and Bulgaria with the establishment of Chinese dragon boat culture in the nation.

    The Dragon Boat Culture Exhibition presented Chinese dragon boat culture in multiple forms, including pictures, physical exhibits and multimedia.

    Ningbo, known as the hometown of Chinese dragon boat culture, showcased its historical heritage and contemporary innovation, illustrating the city as a place where ancient and modern knowledge converge and connect the world, as seen through the friendship between China and Bulgaria.

    This year marks the 75th anniversary of the establishment of diplomatic relations between the two nations. The Dragon Boat Culture Exchange Base and Dragon Boat Culture Exhibition at the China Cultural Center in Sofia hold significant importance.

    Evgenia Alexieva said, “I hope this is a new starting point for deepening cultural exchanges between China and Bulgaria. In the future, we will continue to leverage our respective strengths, explore cooperation potential, establish more communication platforms, steadily deepen exchanges and visits and contribute greater efforts to further enhance bilateral relations between China and Bulgaria.”

    MIL OSI China News –

  • MIL-OSI Australia: Interview with Loretta Hart, 94.7 The Pulse

    Source: Australian Ministers 1

    LORETTA HART, HOST: As we celebrate 50 years of community radio in Australia, we’re featuring women doing great things in the sector and those making an impact on it. One such woman is my next guest, someone who is a champion for all things community broadcasting, the Honourable Michelle Rowland, Minister for Communications. Welcome to the program.

    MICHELLE ROWLAND, MINISTER FOR COMMUNICATIONS: Great to be with you. 

    HART:  And we’ve also been joined by Libby Coker in the studio as well, our Federal Member for Corangamite. Welcome, Libby.

    LIBBY COKER, FEDERAL MEMBER FOR CORANGAMITE: Welcome to you too. It’s great to be with you.

    HART: And look, I can’t go past that we actually got our station manager. Leo. Leo, welcome back from long service leave.

    LEO RENKIN, 94.7 STATION MANAGER: Thank you, Loretta. It’s been a very entertaining first day.

    HART: Absolutely. So, Michelle, you know, we know that the Labor Government introduced community radio back in the ‘70s. Can you share with us the importance of community broadcasting and radio, what- the importance it holds for the Government of today?

    ROWLAND: It’s absolutely an essential part of our media ecosystem, and I think it is opportune to reflect when Gough Whitlam started community broadcasting 50 years ago, it was referred to as experimental. So this was a step into the unknown about what can be done with this very valuable resource we call spectrum. I think it was one of the wisest moves that’s been made in communications regulation in this country, because where community broadcasting fits in in this whole ecosystem is it provides the heavy lifting that’s been done on media diversity. We are one of the most concentrated media ownership markets in the world, and to have hundreds of community broadcasters right around Australia serving localism, supported by volunteers, having connections with community.

    I’m really privileged to be here, just seeing the connections that you have with individuals, with community, how you reflect the local area. You try and think of another media format that can do that. You can’t. You can’t do it on a digital platform. You can’t do it in a profit making commercial broadcasting sense. It’s done through people who want to make a difference. Meeting Marwa, earlier from Syria, one of your stars. Clearly, that’s been life changing for her and she’s found a place here. I just think that says it all. It says everything about community broadcasting, community radio. It really does bring people together. Congratulations to The Pulse for clearly doing it so well. You really are the epitome of why we support this sector.

    HART:  Thank you so much. You used the word experimental, and I know we’re 50 years on, but I would say it still feels experimental. We have this opportunity to bring in new voices, to try new things to be nimble, which is such an exciting place for us to be. I’m wondering, Michelle, you know, as we move into this on demand lifestyle, I watch everything these days on – when it suits me on the TV, people are into their podcasts. Where do you see community radio fitting into this on demand space?

    ROWLAND: I think community radio is going to continue to innovate. Everyone thought radio was going to die with the advent of the iPod and then the iPhone, but community radio has really still found its place. You can find the app; you can listen to it anywhere you want. We’ve introduced a prominence framework in Australia as well to make local content easier to find. I think that the sector will continue to adapt, and I think it does it through two ways. Firstly, it is that local element, but it also is able to connect. It’s two-way. It’s not television. It’s two-way. When you have those personalities that are able to engage, continue to innovate through innovations like podcasting. Podcasting is one of those things, you know, it took off a few years ago, as did- we saw it with the ABC developing iView to have a library. Community broadcasting is doing the same thing, and it’s that kind of innovation that is going to keep it strong. But the key thing here, I’m sure Libby will agree, you need people. You need people, which goes to the whole reason why we’re doing the first really deep sustainability dive into the sector. You can’t operate for profit, but sponsorships are harder to come by. Volunteerism is on the decline, that’s just a fact. So we’ve got to look at new ways of support, and you’ve got to be able to attract people to be part of this. You’re doing it so well here. I could tell as soon as I walked in – you’re very lucky, Libby, to be representing such a special electorate.

    COKER: Yeah. Thanks, Michelle. I’m very fond of The Pulse. It’s been a place where people can come together and it fills a unique niche in this region. We have commercial radio, but we are also quite limited in our range of media. So if you want to have an in-depth interview on an issue, you really need to come to The Pulse to do that. I wish you all the best, and hope you continue to go from strength to strength and be here for another 50 years. It’s an impressive effort.

    HART:  Thank you, Libby. We will hold you to helping us.

    COKER: Yes, I know you will.

    LEO RENKIN CO-HOST: Just one thing that we haven’t really mentioned is the people who go on from the community radio station as well. Like we have Stefan, who’s gone back to Serbia and now presents TV over there. We also have Michelle Rimmer, you might see who’s an ABC reporter over in the UK – they all get their start somewhere like here. It’s very important because most commercial stations and there’s very limited opportunities at the ABC to get experience, and without it, there would be a lot of people who couldn’t go on and make a career out of radio. I think it’s one of the most underrated, important things that happen, not only radio, TV they go onto as well.

    HART: Couldn’t agree more.

    RENKIN: Yeah. That’s part of I think that thing is getting harder and harder to get experience, particularly for people in the media. I think that’s one of the things that we often forget about. You know, coming to a place like we’ve spoken about Marwa this morning, coming to a place where you can then get a chance to go ahead and do those things in media. Without it, as you mentioned before, it’s not a very diverse sector in the media field.

    ROWLAND: I think it’s great that people who are in community broadcasting, like Rove McManus, you know, he got his start on community TV. They go on to great things. But we also want them to stay.

    RENKIN: Exactly.

    ROWLAND: To nurture others as well. So it becomes a virtuous cycle.

    RENKIN: That’s right. They get picked very quickly, yeah.

    HART:  That’s right. I keep telling Marwa not to be so good because SBS is going to find her. She’s our most downloaded program and does an amazing job for her community. But I think that’s right. I mean, and we’re really proud of the links that we’re making with Deakin to support young journalists, students, and those in communications and marketing to come in. I want to give a shout out we had a young man, Cooper Watkins. Cooper came and did an eight-week intro to broadcasting program with us. Just on the weekend, he hosted an hour program with three interviews, and then on Monday, did six interviews for a two-hour program. And he’s just finished his journalism degree. But he is eager to get his hands on these buttons, to get behind the microphone and to get experience.

    So you’re right, Leo. I think that whilst we can have diverse voices, we can have underrepresented stories being given some air, but we’re also a training ground. But you’re right, Michelle, we want people to stay as well. Yeah.

    RENKIN: I’ve got Loretta chained to the desk actually.

    [Laughter]

    I think one of the underrated things about community radio is, like we’ve seen this morning, a diverse group of people coming together, and I think that’s very important for social cohesion as well. We often think of everyone in the community being different, but a place where they can come together and be different is a very special thing to have.

    ROWLAND: Couldn’t agree more.

    HART:  Michelle, just lastly, what can we look forward to- as community broadcasters, what can we look forward to the Albanese Government supporting and providing in this space?

    ROWLAND: Well, I want to reiterate that this is a government that doesn’t just say we support community broadcasting. We’ve backed that up with $23 million in funding. We want to continue to make sure that this sector remains strong. The first Bill I actually presented to the Parliament as Minister was on community broadcasting to help ease some of that regulatory burden. We have the sustainability review that’s being finalised by my Department now. I think it’s been really important to go out and to consult with the sector about what their needs are. When that comes through, I’m sure it will have some really practical suggestions in there for reform.

    But as Libby will tell you too, you know, we want to be judged on our delivery. It’s really something to be able to go to- I’ve lost count of how many community radio stations I’ve been to or have been on around Australia. But I want to be clear to your listeners. We’re a Government of delivery. We’re not afraid of the hard reforms. There are hard things happening in the media at the moment. This sector is under great challenge through the multinational digital platforms, under great stress through just the transition as well. It’s not the advertising market that it used to be. It is hard. There has to be that adaptation across mainstream media, but also by every part of the ecosystem, including community and just discussions today. This is an area that’s not without its challenges, even here in Geelong.

    But I can give you this commitment that we want to follow through on ensuring sustainability. We are going to have to make some hard decisions. But you can be assured that with good people like Libby backing you up in the Parliament as well, I think that this is a universally supported sector. It’s one that actually goes right across the aisle. You get people from regional areas and from metro areas who do support community radio. So I think that the proposals that we will put up, I’m confident that they’ll have strong support. There’s always a need to do more. Let’s be clear. I want to do expectations management. There’s always a need to do more. With hundreds of community radio stations across Australia with so many thousands of volunteers, we do have to remember I think come back to first principles. This is the fourth estate. It’s about making sure that authentic Australian voices, entertainment, and news get out there. We’re in an era of mis- and disinformation that is harmful to our democracy. This fourth estate that you support here is the front row of that fight against it. That’s one of the key reasons why I’m so passionate about it.

    RENKIN: Can I just add to that, Loretta?

    HART: Yeah, well, you can, but you’ve got 30 seconds.

    RENKIN: Sorry, 30 seconds. We found in COVID that we did have enormous amount of people come to us from different ethnic groups and want us to promote the vaccination programs and things that were going on because the only information they were referring to was online stuff, information from their own country. So for example, they were getting information from Croatia about what was going on, and then trying to think that was what was going to go on in Australia. Well, it was completely wrong. So we had some of our presenters come in and say, we have to get this message out, we have to get this message out. I think that’s one of the things that we- you know, when you said before about being the fourth pillar, I suppose, is that we can provide information from local community groups and for the local community groups, the best thing they know is word of mouth. And if it comes from one of the representatives, and then-

    ROWLAND: They trust. 

    RENKIN: They trust, exactly.

    HART:  They do indeed. It’s been a very fantastic conversation this morning. Thanks so much to Leo. Thanks very much to Libby Coker. And also thanks so much, Michelle, for being here, our Federal Minister for Communications. It’s been wonderful to have you in the studio with us.

    ROWLAND: Absolute pleasure.

    COKER: Thank you.

    MIL OSI News –

  • MIL-OSI Security: Stolen car parts worth millions of euros recovered

    Source: Europol

    German investigators had an initial breakthrough with the arrest and detention of two Romanian nationals following a series of break-ins in bakeries in Wallersdorf. Over the course of the investigation conducted by the Landshut Criminal Investigation Department, evidence emerged that one of the suspects, with the help of one other accomplice, was involved in the break-in at the Wallersdorf logistics…

    MIL Security OSI –