MILES AXLE Translation. Region: Russian Federation –
Source: Bank “RUSSIA” Russia Bank – 09.10.2024
Bank “ROSSIYA” acted as a partner of the X All-Russian Conference “Priorities of Market Electric Power Industry in Russia”
Bank “ROSSIYA” took part in and became a partner of the jubilee 10th All-Russian conference “Priorities of the market electric power industry in Russia: (un)limited possibilities”, which was held on October 2-4 in Sochi.
At the initiative of Bank “ROSSIYA”, a business breakfast was held as part of the conference, dedicated to the problems of developing digital services and financial infrastructure for “green” electric power industry.
It was attended by the Chairman of the Board of the Association “NP Market Council” M.S. Bystrov and the Director of the Department of Competition, Energy Efficiency and Ecology of the Ministry of Economic Development of Russia I.A. Petrunina. The Bank was represented at the event by Deputy Chairman of the Board A.V. Shalenkov, Senior Vice President E.V. Svitova, Vice President – Head of the Department for Work with Electric Power Enterprises R.I. Tugushev and other managers.
A.V. Shalenkov addressed the event participants with a welcoming speech. In his speech, he noted the importance of supporting initiatives aimed at preserving the climate: “In our country, as in the rest of the world, there is a growing demand for financial instruments that ensure the “greening” of business and confirm its commitment to ESG principles. Bank “ROSSIYA” has experience working with projects related to “green” energy – they are valuable to us not only because of their economic efficiency, but also in terms of the climate goals that our country and society face. We have the necessary infrastructure to implement new services in this area and are confident that our numerous clients will respond to such initiatives.”
The prospects of new instruments were outlined by M.S. Bystrov: “The interests of the state in the sphere of “green” electric power coincide with the goals of business and ordinary consumers. The “green” agenda remains among the priorities of petrochemical, metallurgical and other industrial companies. Ordinary people, mainly young people, also want to make their consumption more responsible and environmentally friendly. The certification system allows both to move in this direction, opening up new “green” opportunities.”
I.A. Petrunina in her speech emphasized the importance of the climate agenda in the country’s economic development: “The Ministry of Economic Development is working in two key areas – low-carbon regulation and energy efficiency. Over the past two years, noticeable shifts have been observed in this area, the necessary regulatory and legal architecture of public administration is being created. We are also creating infrastructure for the implementation of climate projects by businesses. Carbon units, like “green” certificates, are already actively used by market participants.”
Member of the Board of the Association “NP Market Council”, General Director of the Center for Energy Certification LLC O.G. Barkin told the participants about the development of the “green” certification system in Russia. With the help of certificates, consumers can confirm the use of energy obtained from clean sources. Given the growing awareness of society and the overall growth in demand for products with a low carbon footprint, energy certification can also be considered a promising area.
The Director of Energy and Resource Provision of PJSC SIBUR V.V. Tupikin, the Director of Work with Natural Monopolies of JSC RUSAL Management M.G. Balashov, the Managing Director of JSC Energosbyt Plus Yu.B. Chernyavskaya and other participants of the event also presented their vision of the problems of “green” electric power industry.
The Bank’s retail employees took an active part in the conference. Participants and guests were given consultations on mortgages in the primary market, refinancing, consumer lending, and applications for credit cards were accepted. Agreements were also reached on holding retail events on the premises of enterprises in the electric power sector.
For ten years, Bank “ROSSIYA” has been an authorized credit organization of the Wholesale Electricity and Capacity Market (WECM). During this time, the Bank managed to create an effective technological structure for settlements between enterprises in the electric power industry.
Participation in the conference contributed to the development of mutually beneficial cooperation and strengthening the image of Bank “ROSSIYA” among players in the electric power market.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) fully support the Banking Industry Integrity Charter (Integrity Charter) introduced by the Independent Commission Against Corruption (ICAC). The two organisations co-hosted today (October 9) a launching ceremony for the Integrity Charter together with the ICAC. Senior management from 30 banks, including those from major retail banks and private wealth management banks in Hong Kong, attended the ceremony. Representatives of the Chinese Banking Association of Hong Kong and the Private Wealth Management Association also attended the event (see Annex).
The HKMA has long been encouraging banks to further their work in integrity building. The ICAC launched the Integrity Charter to create a platform for communication through public-private partnership, helping banks to implement effective integrity management and anti-corruption measures. The ICAC will provide anti-corruption recommendations tailored for the banking industry, share anti-corruption cases with the industry, and arrange regular thematic training for banks to further support the industry’s efforts in integrity building and promoting honest and responsible business practices. Banks participating in the Integrity Charter will commit to further strengthening their internal anti-corruption capabilities and promoting an integrity culture among their business partners.
The Chief Executive of the HKMA, Mr Eddie Yue; the Commissioner of the ICAC, Mr Woo Ying-ming; and the Chairman of the Hong Kong Association of Banks, Ms Luanne Lim, officiated at the ceremony to mark the launch of the Integrity Charter. During the event, the ICAC also showcased for the first time the logo specially designed for the Integrity Charter.
In his welcome remarks, Mr Yue said, “Customer trust is an important pillar for the sustainable development of the banking industry. The professionalism and ethical conduct of banks and their frontline staff are key to building customer trust. The launch of the Integrity Charter by the ICAC is conducive to maintaining the stability of the Hong Kong banking system, and also helps to consolidate and enhance Hong Kong’s status as an international financial centre. It provides strong support for the Hong Kong banking industry to develop new markets, including the Middle East and Southeast Asia.”
Mr Woo said in his welcome remarks, “Hong Kong is widely recognised as one of the most corruption-free places in the world and its financial sector is vibrant and thriving. The Integrity Charter combines the two advantages of Hong Kong – integrity and finance – underlining the banking industry’s commitment to integrity and enhancing its anti-corruption capabilities, to maintain and develop Hong Kong’s position as an international financial centre.”
Ms Lim said, “The Integrity Charter will help the public better understand banks’ determination to maintain a clean society and combat corruption collectively.” She encouraged members of the association to participate in the Integrity Charter.
For further information about the Integrity Charter, please visit the webpage of the ICAC’s Corruption Prevention Advisory Service at cpas.icac.hk/EN/Info/TP_Library?cate_id=10046.
Netball will make a triumphant return to Liverpool in May next year when M&S Bank Arena team up with Manchester Thunder to host a highly anticipated Netball Super League (NSL) match, reaffirming the city’s status as a destination for top-tier sporting events.
The event will see some of the UK’s finest netball talent compete against each other in front of passionate netball fans. Fixtures, announced today, reveal Manchester Thunder will meet Birmingham Panthers in Liverpool. The return to the city is particularly exciting for local supporters, as it was the host city for the unforgettable 2019 Vitality Netball World Cup, where fans packed the stands to create an electric atmosphere.
M&S Bank Arena, one of the UK’s leading sports and entertainment venues, is thrilled to welcome Manchester Thunder for what promises to be an exhilarating match. The venue’s state-of-the-art facilities and commitment to creating memorable fan experiences ensure it will be a spectacular showcase for netball fans across the Liverpool city region.
Ben Williams, Commercial & Business Development Manager for M&S Bank Arena said, “We are delighted to be welcoming netball back to the city. Liverpool has a rich sporting history, and local fans always create a special atmosphere. We are proud to host this prestigious event and can’t wait to see the arena buzzing with excitement as the players take to the court.”
Karen Greig, Head Coach and Franchise Director for Manchester Thunder said, “We are delighted to be bringing a game to Liverpool and the M&S Bank Arena. We recognise as a North West based franchise that we have a responsibility to develop both local and elite netball across our region. It’s important for us to engage with netballers in the whole of the North West to get more people watching netball and coming to Liverpool is an exciting move for us. We will be working closely with Liverpool and its surrounding areas to engage not only young aspiring netballers but reaching out to netballers across the city. We are excited to see this new partnership drive forward and help develop partnerships and netball.”
Manchester Thunder, four-time Netball Super League champions, are playing in Liverpool for the first time in their history. The sport’s return to Liverpool in 2025 comes at a time when netball continues to grow in popularity across the UK, inspiring a new generation of players and fans alike. With a strong history of hosting international sporting events, Liverpool is ready to bring netball to new heights and once again show why it’s the premiere destination for top-tier sporting events.
Event Details:
Location: M&S Bank Arena, Liverpool
Date: 18 May 2025
Tickets: On sale from 12th October 2024
For more information, please visit mandsbankarena.com or follow us on social media for the latest updates.
Leading up to today’s official cash rate decision, there were equally strong cases for either a 0.25% or 0.50% cut, with the Reserve Bank ultimately opting for the latter.
This seems to reflect a new focus on the ‘real time’ economic indicators (such as falling employment) and the potentially growing risk that weak activity causes inflation to undershoot the 1-3% target before too long, rather than staying stubbornly above it.
Given this was an ‘interim’ Monetary Policy Review (as opposed to the full Monetary Policy Statement), the commentary attached to the decision was always likely to be fairly brief and that proved to be the case.
There’s a sense in the Reserve Bank’s commentary that they feel a need to act fairly quickly to get monetary policy back towards a more neutral setting (or even stimulatory), rather than the restrictive territory it’s been in for quite some time now.
Overall, the OCR is now clearly on a steady downward path.
In terms of the housing market impacts, the key point is that mortgage interest rates are likely to continue to drop too. This could easily produce a short-term lift in confidence and a more active housing market as we hit the normal Spring uplift anyway.
However, although house prices may well stop falling in the near future, there are also plenty of reasons why they are unlikely to surge upwards either. For a start, housing affordability remains stretched, and elevated listings are certainly putting finance-approved buyers in a strong position when it comes to price negotiations.
But perhaps the most important restraint right now is the labour market. Job losses themselves will tend to limit house sales and prices.
But there’s also the knock-on effect on sentiment even for those people who keep their jobs but don’t feel as secure in their role as they did before. In addition, flatter wages will also tend to subdue the housing market.
Looking ahead, it wouldn’t be a surprise to see limited growth in house prices in 2025, as mortgage rates drop.
But keep in mind that lower rates will simply bring forward the timing for the debt-to-income restrictions to start biting; another reason to be cautious about the speed and duration of the next housing cycle.
Indeed, the DTIs are effectively an ‘insurance policy’ for the Reserve Bank in this cycle. Previously, they might have been wary of cutting too soon, at the risk of driving house prices up. But now DTIs will act to curb that growth.
BETHESDA, Md., Oct. 09, 2024 (GLOBE NEWSWIRE) — Eagle Bancorp, Inc. (the “Company”) (NASDAQ: EGBN), the Bethesda-based holding company for EagleBank, one of the largest community banks in the Washington D.C. area, today announced that it will host a teleconference call for the financial community on October 24, 2024, at 10:00 a.m. (EDT). On this call, Eagle Bancorp Inc.’s Chief Executive Officer Susan Riel and Chief Financial Officer Eric Newell will discuss earnings for the third quarter 2024 financial results. Those results will be released after the close of business on October 23, 2024.
Interested parties will need to register at the below-noted URL in order to listen and participate in the call. Once a participant registers with a valid email, they will receive a dial-in phone number and unique PIN number which will be needed to access the call. The call will also be available live via webcast on the Company’s website, which is http://www.EagleBankCorp.com. A replay of the call will be available on the Company’s website through November 7, 2024.
Caution About Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Company operations and policies and regarding general economic conditions. These forward-looking statements are based on current expectations that involve risks, uncertainties, and assumptions. Because of these uncertainties and the assumptions on which the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. Readers are cautioned against placing undue reliance on any such forward-looking statements. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and other filings with the SEC. Except as required by law, the Company does not undertake to update forward-looking statements contained in this release.
About Eagle Bancorp, Inc. and EagleBank Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. EagleBank is headquartered in Bethesda, Maryland, and conducts full service commercial banking through 12 offices, located in Suburban, Maryland, Washington, D.C. and Northern Virginia. EagleBank focuses on building relationships with businesses, professionals and individuals in its marketplace.
EagleBank Contact Eric Newell, Chief Financial Officer, Eagle Bancorp, Inc. 240.497.1796
OEUK CEO provides key insights at the Great British Energy Bill Committee
9 October 2024
In his submission, David highlighted the advantages that the UK holds in the energy sector, stating, “We are so lucky in this country that we have brilliant people, we have a world-class supply chain, we’re lucky that the wind blows, and we have the North Sea and other assets. We must make best use of it.”
David’s testimony underscored the importance of maximizing the UK’s energy assets, leveraging renewable energy sources, and supporting the 200,000 people working within the sector. He stressed that with the right policies, the UK can maintain its leadership in energy production and continue to drive sustainable growth in the industry.
You can watch David Whitehouse’s full submission to the committee below.
Chief Minister Alfred Cannan MHK highlighted the importance of public-private sector collaboration as he opened the flagship Countering Financial Crime Conference at the Villa Marina today, Wednesday 9 October.
Addressing an audience of almost 600 people, he called on everyone to play their part in maintaining the integrity of the Island’s financial services sector.
‘Combatting the scourge of financial crime requires a robust and co-ordinated national response,’ the Chief Minister said. ‘We must keep pace with developments, maintain high standards and work together to protect the Island from those who seek to exploit our financial systems.
‘Maintaining the Island’s reputation as a first-class international finance centre is a political priority. I am determined to lead from the front to ensure the Isle of Man can look forward to a vibrant, diverse and sustainable future.’
Today’s conference brings together a diverse group of experts, practitioners, and policymakers to share their professional insight and highlight best practice.
Eric van der Schild of Europol, the European Union Agency for Law Enforcement Cooperation
Donald Toon, Head of Financial Crime Threat Mitigation for the Natwest Group
Kathryn Westmore, Senior Research Fellow at the Centre for Finance and Security at the Royal United Services Institute
Ruth Dearnley OBE of Stop the Traffik, a campaign coalition which aims to bring an end to human trafficking
Zoe Warren and John Tanagho of the International Justice Mission
Scott Johnston, Head of Public Sector Operations at Chainalysis
Cindy van Niekerk of IOM Fintech Innovation Challenge winners Umazi
The speakers will explore a range of financial crime topics and challenges, including work aimed at countering money laundering, terrorist financing, proliferation financing, human trafficking and modern slavery.
Panel discussions focus on data and innovation, the importance of collaboration, and how the Isle of Man can make a positive difference as a small jurisdiction with a big financial footprint.
The conference will also see the official launch of the Financial Crime Partnership, a public-private sector initiative coordinated by the Isle of Man Financial Intelligence Unit.
Source: Hong Kong Government special administrative region
The Home and Youth Affairs Bureau (HYAB), the Women’s Commission and the Family Council today (October 9) hosted the Family and Women Development Summit Hong Kong for exchanging experiences with different sectors of the community in respect of promoting family and women development, with a view to assisting in formulating more focused measures to further support family and women development. Themed “Women’s Strengths in Action, Family Values Across Generations”, the inaugural Summit has gathered key officials responsible for policies on women or family from different regions, as well as successful women from various sectors, representatives of families from different backgrounds and related organisations and non-governmental organisations as guest speakers. It also attracted over 900 representatives from local and Guangdong-Hong Kong-Macao Greater Bay Area women’s groups, the business sector, and relevant service organisations to register and participate. The Summit aimed at enabling them to share their experiences on women development issues of concern as well as family building and fostering family education and values. The Chief Secretary for Administration, Mr Chan Kwok-ki, officiated at the Summit. In his remarks, he said, “Women have been playing a crucial role in driving Hong Kong’s social and economic development. Women are as competent as men. Hong Kong women have achieved outstanding accomplishments in various fields, providing pivotal support for social development.” Mr Chan said that women not only contribute to social and economic development with their wisdom and strength, but also play a unique role in respect of family building as well as fostering family education and values. He said, “Family is the cornerstone of society. Chinese people have been attaching importance to families. The promulgation of the National 14th Five-Year Plan mentioned the need to strengthen family building, promoting the diversified development of family services. The country attaches great importance to family building. The Hong Kong Special Administrative Region Government also focuses on the healthy development of local families.” Keynote speeches of the Summit featured the theme “Family and Women’s Development as the Cornerstones of Social Harmony”. Key officials responsible for policies on women or family from different places, including member of the Secretariat of the All-China Women’s Federation Ms Ma Liejian; former Vice Minister of Foreign Affairs of the People’s Republic of China Ms Fu Ying; the Minister of Women’s Affairs, Kingdom of Cambodia, Ms Ing Kantha Phavi; the Secretary for Home and Youth Affairs, Miss Alice Mak; and the Chairperson of the Women’s Commission, Dr Eliza Chan, shared policies and initiatives taken by governments in empowering women and strengthening family building as well as their insights about family and women’s development. Miss Mak said in the keynote speech, “This is the first Family and Women Development Summit organised by the Government. Through the Summit, we hope to provide a new platform for individuals who are concerned about the development of local families and women, pulling together the efforts of the Government, the business sector, and the community. This will allow people from different sectors, backgrounds, and cultures to exchange experiences and insights, and to stimulate new ideas for formulating relevant measures.” Miss Mak said that the HYAB has been actively preparing multiple new measures related to family and women’s development as covered in the 2023 Policy Address. She announced at the Summit the official launch of a one-stop family and women’s information portal; the introduction of a three-year Maintenance Mediation Pilot Scheme through the Community Care Fund to provide mediation services related to maintenance for those in need; and the official launch of a new five-year Funding Scheme on the Promotion of Family Education on October 14 to support non-profit-making community projects in promoting family education. Two thematic sessions were held at the Summit. The first session themed “Women’s Strengths in Action” was chaired by the Deputy Secretary for Home and Youth Affairs (Home Affairs), Mr Nick Au Yeung. The panellists, including the Director of Division of Women’s Affairs, National Working Committee on Children and Women under the State Council, Ms Li He; the Chief Executive Officer of Shanghai Pudong Development Bank Company Limited Hong Kong Branch, Ms Li Zhang; the Chief Executive Officer of Hong Kong Exchanges and Clearing Limited, Ms Bonnie Chan; the Executive Vice-President of the Strategy Development and Government Affairs, GBA of Ant Group, Ms Jennifer Tan; and the Founder of Mary Yu Design, Ms Mary Yu, explored the roles and contributions of women in driving the economic and social development of Hong Kong. The second session with the theme “Family Values Across Generations” was hosted by the Under Secretary for Home and Youth Affairs, Mr Clarence Leung. Mr Leung, with the Director General of the Department of Family and Children’s Affairs of the All-China Women’s Federation, Ms Xu Xu; the Chairperson of the Family Council, Ms Melissa Pang; the Chief Executive Officer of the WEMP Foundation, Mr Alex Mo; a working mother and Founder of Simply Mask Limited, Ms Corina Cheng; the Founding Chairman of LoveXpress Foundation Ltd, Ms Kitty Poon; and a representative of ethnic minorities family, Ms Syed Kalsoom (Pinky), evaluated the importance of family education on building a caring and harmonious family from various perspectives to boost the healthy development of local families. Exhibition booths were also set up at the venue to showcase the achievements of women’s groups and family service organisations in promoting women’s development and family education. For details and the recording of the Summit programme, please visit the thematic webpage, familyandwomensummit.hk/hyab2024.
CCI approves acquisition of 42.99% of the total paid up share capital of JM Financial Credit Solutions Limited by JM Financial Limited Acquisition of 71.79% of the total paid up share capital of JM Financial Asset Reconstruction Company Limited by JM Financial Credit Solutions Limited also approved
Posted On: 09 OCT 2024 11:59AM by PIB Delhi
Competition Commission of India (CCI) has approved (i) acquisition of 42.99% of the total paid up share capital of JM Financial Credit Solutions Limited by JM Financial Limited, and (ii) acquisition of 71.79% of the total paid up share capital of JM Financial Asset Reconstruction Company Limited by JM Financial Credit Solutions Limited.
The Proposed Combination envisages two simultaneous acquisitions, i.e., (i) acquisition of 42.99% of the total paid up share capital of JM Financial Credit Solutions Limited (JMFCSL) by JM Financial Limited (JMFL), and (ii) acquisition of 71.79% of the total paid up share capital of JM Financial Asset Reconstruction Company Limited (JMFARC) by JMFCSL.
JMFL is the operating cum holding company of the JM Financial Group (JMFL Group), that provides integrated and diversified financial services on its own and through its subsidiaries. It is a publicly listed company on BSE Limited and National Stock Exchange of India Limited. JMFL’s primary business includes investment banking business, private equity fund management, along with undertaking operations of private wealth and portfolio management services.
JMFCSL, a subsidiary of JMFL, is a systemically important non-deposit taking Non-Banking Finance Company (NBFC) and is classified as an investment and credit company, categorized as middle layer NBFC, registered with the Reserve Bank of India (RBI). It is currently engaged in wholesale lending activities with primary focus on real estate financing and corporate financing.
JMFARC, a subsidiary of JMFL, is an asset reconstruction company, registered with the RBI, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. It is engaged in the business of acquisition of stressed assets from banks / financial institutions and implementing resolution strategies for the acquired assets.
A new loan portfolio of €400 million will support financing for mid-cap companies.
Firms with up to 3 000 employees will be eligible to apply for a loan.
The EIB is backing IKB’s loan portfolio with guarantees totalling €200 million.
The European Investment Bank (EIB) and IKB Deutsche Industriebank AG (IKB) have started a new partnership to support investment by Germany’s mid-cap companies. Firms with up to 3.000 employees can apply to IKB for a long-term loan to finance their transition to a more sustainable business model. The EIB will provide guarantees of €200 million to secure a total lending volume of €400 million.
This cooperation between the EIB and IKB will make it easier for mid-caps to access financing on favourable terms for sustainable investment. These borrowers will derive the full benefit of the EIB guarantees.
By facilitating access to financing, this partnership will promote long-term economic growth as well as job security. One-third of the loans will go to finance projects that power the green transition by improving energy efficiency, reducing carbon emissions and air pollution, and promoting overall market efficiency and integration through participation in wholesale markets.
The EIB guarantees are part of an EU-wide linked risk-sharing programme that uses risk-sharing to reduce certain access barriers to finance caused by the current economic uncertainty, including supply chain bottlenecks, inflation, rising interest rates and energy insecurity.
“Mid-caps are an important growth driver of our economy and play a key role in the green and digital transition, and in strengthening innovation, competitiveness and productivity of the German economy,” EIB Vice-President Nicola Beer said. “That’s why, together with IKB, we are providing long-term financing so that Midcaps can plan for their future. In this way, we help companies to remain innovative, make their supply chains more resilient and secure jobs. This strengthens Germany and Europe as a business location.”
As a financier supporting the development of German Midcaps, IKB welcomes this close partnership with the EIB. Through it, IKB aims to strengthen its status as a relevant, sustainable financial service provider for the country’s medium-sized firms. 30% of the guarantee framework is intended to support projects that improve carbon footprint and promote sustainable environmental protection.
“This agreement strengthens IKB’s position as a provider of transformation financing for mid-cap companies,” IKB CEO Michael Wiedmann said. “We are pleased that we can now expand our financing options for our clients’ sustainability projects and make these even more attractive.”
With its wide range of sustainable product initiatives, IKB aims to use investment financing to make a substantial contribution to the transition to a green economy. These include syndicated ESG loans, project finance, ESG loans with long maturities, and ESG advisory services. The bank’s contribution can be measured against the overall goal of mobilising €3-4 billion of sustainable new business volume by the end of 2025, in line with its Sustainable Finance Framework. In the 2023 financial year, IKB mobilised around €1.7 billion of sustainable new business.
Background information
The European Investment Bank is the long-term lending institution of the European Union. It finances sound investments that contribute to EU policy objectives. EIB projects strengthen competitiveness, sustainable development, and social and territorial cohesion. They promote innovation and accelerate the transition to climate neutrality. The EIB Group – which also includes the European Investment Fund – signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.
IKB Deutsche Industriebank AG, headquartered in Düsseldorf, focuses on high-end German mid-caps – mainly firms with an annual turnover of more than €100 million. Since it was founded in 1924, IKB has specialised as an independent private bank, primarily in long-term financing for companies and projects. In its customer business, IKB focuses on structured financing and credit advisory services. The bank also offers financing solutions that can be used independently of customer balance sheets, including assistance for companies on the capital market – for example, in issuing promissory notes or bonds. IKB is also a specialist offering customers access to public funding programmes. It employs around 600 people at six locations, with a sales network that covers all regions of Germany.
ECB Conference on Monetary Policy 2024: bridging science and practice
The 7th Conference on Monetary Policy featured once more an impressive academic line-up and was held as a hybrid event. The three conference sessions tackled issues related to monetary policy, inflation and financial instability, credit, liquidity and quantitative tightening as well as the role of financial markets in monetary policy transmission. A special session showcased monetary policy related research by young economists.
Keynote speech
Adriana D. Kugler, Federal Reserve Board of Governors
Chair: Isabel Schnabel, Member of the Executive Board of the ECB
Announcement on Open Market Operations No.198 [2024]
(Open Market Operations Office, October 9, 2024)
In order to keep liquidity adequate at a reasonable level in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB61 billion through quantity bidding at a fixed interest rate on October 9, 2024.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction in which the same would be unlawful. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.
9 October 2024
ALLIANCE WITAN PLC
Results of the Scheme
New Shares to be issued and commence trading
Change of Name to Alliance Witan PLC
Change of Ticker Code to ALW
Results of Scheme
In connection with the combination of the assets of the Company with the assets of Witan Investment Trust PLC (“WTAN“) which was approved by WTAN Shareholders earlier today, the Board of Alliance Witan PLC (the “Company” or “ATST“) is pleased to announce that the Company will acquire approximately £1,539 million of net assets from WTAN in consideration for the issue of 120,949,382 New Shares to WTAN Shareholders in accordance with the Scheme.
The number of New Shares to be issued was calculated based on an ATST FAV per Share of 1274.592460 pence and a WTAN FAV per Share of 286.293752 pence, producing a conversion ratio of approximately 0.224615 of a New Share for every WTAN Share rolling over, each calculated in accordance with the Scheme. As set out in the shareholder circular published by the Company on 12 September 2024 (the “Circular”), fractions of New Shares arising as a result of the conversion ratio will not be issued under the Scheme and entitlements to such New Shares will be rounded down to the nearest whole number.
Issue of New Shares
Applications have been made for the 120,949,382 New Shares to be admitted to listing on the closed-ended investment funds category of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange (together, “Admission“). It is expected that Admission will take place at 8.00am on 10 October 2024.
Following the issue of the New Shares noted above, the Company’s share capital will consist of 401,816,982 Ordinary Shares (excluding treasury shares), with each Ordinary Share holding one voting right, and an additional 3,377,000 Ordinary Shares held in treasury.
The figure of 401,816,982 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in voting rights, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules.
Change of Name and Ticker Code
As noted in the Circular, as part of the Scheme Proposals the name of the Company is being changed from ‘Alliance Trust PLC’ to ‘Alliance Witan PLC’ and the Company’s ticker code from ATST to ALW. The change of name has now taken effect following receipt of the requisite confirmation from the Registrar of Companies earlier today; while the change of ticker code will take effect from tomorrow morning when trading in the New Shares commences.
Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.
Enquiries
Alliance Witan PLC Dean Buckley
Via Investec or Juniper Partners
Juniper Partners Limited (Company Secretary)
+44 (0)131 378 0500
Investec Bank plc (Lead Financial Adviser, Sole Sponsor and Corporate Broker) David Yovichic Denis Flanagan
+44 (0)20 7597 4000
Dickson Minto (Joint Financial Adviser) Douglas Armstrong
+44 (0)20 7649 6823
LEI: 213800SZZD4E2IOZ9W55
Important Information This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
MILES AXLE Translation. Region: Russian Federation –
Source: Mainfin Bank –
Why is VTB accelerating integration with Post Bank?
Post Bank is jointly owned VTB and Russian Post, but after the deal, VTB will become the institution’s sole shareholder. The acceleration of integration into Post Bank is explained by several reasons:
the merger of the two banks will be easier to implement if there is a single decision-making center; Russian Post is experiencing a financial deficit; last year the company suffered a loss of over 7 billion rubles; high key rate – the seller of Post Bank will be able to place the received capital with maximum benefit.
The financial difficulties of Russian Post have been going on for a long time, for example, in 2022 the company suffered a loss of 27 billion rubles. In 2023, the organization developed a plan to overcome the crisis, among the possible measures is obtaining additional capital.
What is known about the merger deal between Pochta Bank and VTB?
VTB management plans to complete the buyout of shares in Pochta Bank in the coming months – the deal is currently undergoing preparation and approval by regulatory authorities (permission from the FAS and the Central Bank of the Russian Federation has not yet been received). The following is known about the merger:
VTB is to buy out 49.99% of shares from Russian Post and two shares from the bank’s top manager; the deal is valued at an average of RUB 35 billion; the integration of the two banks will be carried out throughout 2025; the complete closure of the Post Bank brand will take place in 2026.
“A decision on the integration processes has not yet been made; a separate sub-brand may appear on the basis of Pochta Bank – this issue will be discussed only after the completion of the deal,” VTB states.
Pochta Bank enters the top 30 banks countries in terms of asset size and capital volume, the key area of work is serving individuals and providing consumer creditsThe key feature of the company is an extensive network of offices, represented both independently and in the branches of Russian Post.
12:00 08.10.2024
Source:
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
October 8, 2024 Ottawa, Ontario Public Services and Procurement Canada Everyone deserves a place to call home. However, for many across the country, home ownership and renting is out of reach due to the unprecedented housing crisis Canada is facing. We need to build more homes, faster, to get Canadians into homes that meet their needs, at prices they can afford. That is why in Budget 2024 and Canada’s Housing Plan, the federal government announced the most ambitious housing plan in Canadian history—a plan to build 4 million more homes.
October 8, 2024 Ottawa, Ontario Public Services and Procurement Canada
Everyone deserves a place to call home. However, for many across the country, home ownership and renting is out of reach due to the unprecedented housing crisis Canada is facing. We need to build more homes, faster, to get Canadians into homes that meet their needs, at prices they can afford. That’s why in Budget 2024 and Canada’s Housing Plan, the federal government announced the most ambitious housing plan in Canadian history: a plan to build 4 million more homes.
As part of this plan, the Government of Canada is identifying properties within its portfolio that have the potential for housing, and is actively adding them to the Canada Public Land Bank. Wherever possible, the government will turn these properties into housing through a long-term lease, not a one-time sale, to support affordable housing and ensure public land stays public.
Today, the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement, joined by the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Terry Beech, Minister of Citizens’ Services, announced that 14 new properties have been added to the Canada Public Land Bank.
A total of 70 federal properties have now been identified as being suitable to support housing. This list will continue to grow in the coming months, with further details on listed properties available soon.
As part of the initial launch of the Canada Public Land Bank in August 2024, the Canada Lands Company, in partnership with the Canada Mortgage and Housing Corporation, issued a call for proposals for 5 properties located in Toronto, Edmonton, Calgary, Ottawa and Montréal. The call for proposals for the properties in Toronto and Montréal closed on October 1, 2024, and evaluations have begun. The call for proposals for the Edmonton, Calgary and Ottawa properties will close on November 1, 2024.
To provide feedback on the land bank and its properties, the Government of Canada launched a call for housing solutions for communities: a secure online platform.
To date, the Government of Canada has already received interest and feedback from provinces, territories and municipalities, as well as developers, housing advocates and Indigenous groups. This information will be used to develop and bring more properties to market starting this fall.
To solve Canada’s housing crisis, the federal government is using every tool at its disposal. The Government of Canada is accelerating its real property disposal process to match the speed of builders and the urgency of getting affordable homes built for Canada.
Headline: Apple’s Swift Student Challenge to open in February 2025
QUICK READOctober 8, 2024
Apple’s Swift Student Challenge has given thousands of students around the world the opportunity to showcase their creativity and build real-world skills. The challenge empowers students to join a worldwide community of developers using Swift — the same programming language used by professionals — to create the next wave of groundbreaking apps.
Submissions for the 2025 Swift Student Challenge will open in February for three weeks. Students, educators, and their advocates can find out how to prepare for the challenge and sign up to be notified when applications open at developer.apple.com. Apple will recognize a total of 350 Swift Student Challenge winners whose submissions demonstrate excellence in innovation, creativity, social impact, or inclusivity. From this esteemed group, 50 Distinguished Winners will receive additional recognition and be invited to Apple’s headquarters in Cupertino next summer.
“At Apple, we are committed to supporting and nurturing the next generation of coders. Every year, we’re incredibly impressed by the ingenuity of the apps students are creating, and we’re excited to see what the next round of the challenge will bring,” said Susan Prescott, Apple’s vice president of Worldwide Developer Relations.
Apple is also unveiling updated Swift Coding Club resources to help students prepare for the Swift Student Challenge, while building community and developing skills for a future career. The Swift Coding Club starter kit provides activities to empower students with a passion for app development to further explore Swift and SwiftUI and spread the word among their peers.
In addition, new Develop in Swift Tutorials offer students a great first step toward a career in app development using Swift, SwiftUI, and Xcode — Apple’s integrated development environment — as they build innovative apps for all Apple platforms.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, alongside the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement, and the Honourable Terry Beech, Minister of Citizens’ Services, announced significant progress in the federal government’s work to unlock more land in our communities for housing.
October 8, 2024 – Ottawa, Ontario – Department of Finance Canada
Across Canada, too many properties are underused or vacant—from unused basements, to empty office towers, to vacant lots—and could be used to build more homes. By making it easier for homeowners to add secondary suites to their existing homes, and unlocking vacant lands and underused federal properties for housing, we can build the supply of homes Canada needs to make housing more affordable for every generation.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, alongside the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement, and the Honourable Terry Beech, Minister of Citizens’ Services, announced significant progress in the federal government’s work to unlock more land in our communities for housing.
First, the Deputy Prime Minister and Minister of Finance announced technical guidance for lenders and insurers to offer mortgage refinancing for homeowners looking to add secondary suites to their homes, starting January 15, 2025. These mortgage insurance reforms, as well as the forthcoming Canada Secondary Suite Loan Program, will make it easier for homeowners to convert an unused basement into a rental apartment or a garage into a laneway home to increase density in our communities. Secondary suites can help homeowners pay their mortgage with a new rental apartment and bring families closer together. For example, a retired couple may wish to downsize into a new laneway home or in-law suite, so their children could raise their young family in the property’s existing home. More specifically, these changes will:
Allow refinancing of insured mortgages for secondary suites, to let homeowners access the equity in their homes to finance the construction of secondary suites. Borrowers will be able to access financing of up to 90 per cent of the home value, including the value added by the secondary suite(s), and amortize the refinanced mortgage over a period of up to 30 years.
Increase the mortgage insurance home price limit to $2 million for those refinancing to build a secondary suite, to ensure homeowners can access this refinancing in all housing markets across the country.
Second, the Deputy Prime Minister and Minister of Finance launched consultations on the taxation of vacant land. The federal government is seeking feedback from provinces, territories, and municipalities that are interested in implementing their own vacant land taxes. By taxing vacant lands, landowners would be incentivized to maximize the full potential of their land—building homes.
Third, the Minister of Public Services and Procurement announced that an additional 14 underused federal properties have been identified as suitable for building new homes. With these additional federal properties added to the Canada Public Land Bank, a total of 70 federal properties have now been unlocked and are available to homebuilders as of today. This is part of the federal government’s work—as Canada’s largest landowner—to turn unused and underused federal properties into 250,000 new homes.
The federal government is delivering on its ambitious plan to build 4 million homes by using all tools at its disposal. The actions announced today are about maximizing the use of available land in our communities—turning unused basements, empty lots, and underused federal offices into homes—to build a country where everyone has access to a home they can afford.
Quotes
“We must use every possible tool to build more homes and make housing affordable for every generation of Canadians. That is why we announced the most ambitious housing plan in Canada’s history—a plan to build 4 million new homes. Today, we are taking bold action to deliver on key parts of that plan which will build new homes by making it easier to add a secondary suite to your existing home and making full use of available land in our communities.”
–The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
“Safe, accessible, and affordable housing options are out of reach for far too many Canadians. The launch of the Canada Public Land Bank in August 2024 laid the foundation for our efforts to unlock public lands for housing at a pace and scale not seen in generations. We are delivering on our promise to continue to add more properties to the land bank and meet the deliverables outlined in Budget 2024 to support a new, ambitious Public Lands for Homes Plan. In doing so, we can build strong communities and more affordable housing across the country.”
–The Honourable Jean-Yves Duclos, Minister of Public Services and Procurement
“Our government is unlocking new opportunities for homeownership by building homes on underused public lands, retrofitting federal buildings, and empowering homeowners to construct additional units. Young British Columbians and Canadians across the country face a tougher housing market than the generations before them and our plan will help create more housing options for them and their families.”
–The Honourable Terry Beech, Minister of Citizens’ Services
“The measures announced today are another step forward in our work to tackle the housing crisis, build more homes, and ensure that everyone has a safe and affordable place to call their own.”
–The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
Increasing the $1 million price cap for insured mortgages to $1.5 million, to reflect current housing market realities and help more Canadians qualify for a mortgage with a downpayment below 20 per cent. Increasing the insured-mortgage cap—which has not been adjusted since 2012—to $1.5 million will help more Canadians buy a home.
Expanding eligibility for 30 year mortgage amortizations to all first-time homebuyers and to all buyers of new builds, to reduce the cost of monthly mortgage payments and help more Canadians buy a home. By helping Canadians buy new builds, including condos, the government is announcing yet another measure to incentivize more new housing construction and tackle the housing shortage. This builds on the Budget 2024 commitment, which came into effect on August 1, 2024, permitting 30 year mortgage amortizations for first-time homebuyers purchasing new builds, including condos.
In addition to reforming mortgage insurance rules to make it easier to add secondary suites, the federal government is:
Helping families afford to have a grandparent or a family member with a disability move back in if they want to with a new, refundable Multigenerational Home Renovation Tax Credit of up to $7,500, available as of January 1, 2023; and,
Launching a new Canada Secondary Suite Loan Program to enable homeowners to access low-interest loans to help with the cost of renovations. More details will be announced before the end of the year.
In Budget 2024 and Canada’s Housing Plan,the federal government announced the most ambitious housing plan—a plan which will build nearly 4 million homes by 2031. This plan takes a whole-of-government approach to addressing the housing crisis by building more homes, making it easier to rent or own a home, and helping Canadians who cannot afford a home.
A key component of Canada’s Housing Planis the Public Lands for Homes Plan, which will build 250,000 new homes by partnering with all order of government, homebuilders, and housing providers to build homes on surplus and underused public lands, such as unused federal offices, across the country.
Budget 2024 provided $500 million to launch the new Public Lands Acquisition Fund, which will buy land from other orders of government to allow the federal government to acquire more land to be used for housing to help build middle-class homes. Work on the fund is already underway, and more details will be released in the coming weeks.
The 14 federal properties added today to the Canada Public Land Bank are located in:
Vernon, British Columbia;
Ottawa, Ontario;
Gatineau, Quebec;
Québec City, Quebec;
Cape Breton, Nova Scotia; and,
St. John’s, Newfoundland and Labrador.
Provinces, territories, and municipalities that choose to implement vacant land taxes would be incentivized to design these taxes around a core tax base of land that is:
Vacant;
Residentially (or mixed-use) zoned;
Serviceable by municipal infrastructure (e.g., roads, water, sewage, and electricity); and,
Physically developable (e.g., appropriate lot size, no site contamination).
Applying specialized taxes on vacant land would be intended to:
Encourage the development of land into housing rather than leaving it idle;
Discourage speculative holding of land by making it more costly to keep land undeveloped; and,
Provide a source of revenue, which could potentially be used to fund further investments to build more homes.
Associated links
Contacts
Media may contact:
Katherine Cuplinskas Deputy Director of Communications Office of the Deputy Prime Minister and Minister of Finance Katherine.Cuplinskas@fin.gc.ca
Media Relations Department of Finance Canada mediare@fin.gc.ca 613-369-4000
OTTAWA – On Friday, October 11, 2024, the Bank of Canada will release the third quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations.
Time
10:30 (Eastern Time)
Lock-Up
At 09:00 (ET), journalists are invited to review the Business Outlook Survey and the Canadian Survey of Consumer Expectations, under embargo, at the Bank’s head office in Ottawa. Please use the Bank of Canada Museum entrance, located at 30 Bank Street (corner of Bank and Wellington), and bring photo ID.
For security reasons, journalists wishing to attend must confirm their presence by contacting Media Relations before noon (ET) on Thursday, October 10, 2024. Those who have not registered will not be admitted to the lock-up.
At 10:30 (ET), the lock-up ends and the embargo is lifted.
JEFFERSONVILLE, N.Y., Oct. 08, 2024 (GLOBE NEWSWIRE) — Jeffersonville Bancorp, Inc. (OTCQB – JFBC) today announced that Director Philip Coombe, III, has resigned from the board of directors of Jeffersonville Bancorp and its subsidiary, Jeff Bank, effective immediately.
Mr. Coombe became a director of Jeffersonville Bancorp in 2012 and has provided beneficial contributions throughout his time to help aid the growth of the Company and Jeff Bank. Mr. Coombe served on every committee of Jeff Bank and was standing Chairman of the Asset and Liability and Compliance Committees. Mr. Coombe is stepping down from the board due to his expanding business and professional obligations.
“I am grateful for the opportunity to serve on the board and contribute to the Company’s vision and growth over the past 12 years,” stated Mr. Coombe. “It has been a pleasure being involved with the Company and its talented professionals. I am confident the board and management teams will be successful in growing the Company and continuing to deliver shareholder value.”
“On behalf of Jeffersonville Bancorp, Jeff Bank, and the Board of Directors, I want to thank Phil for his dedication and support over the last 12 years,” stated George W. Kinne, Jr., President and CEO. “It has been a privilege sitting beside Mr. Coombe during his time on the board. We wish him all the best in his future endeavors and know that he will continue to be a supporter of Jeff Bank.”
Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.
Developed by Environment and Climate Change Canada and Birds Canada, The State of Canada’s Birds 2024 report provides accessible, scientific insight into the population status of 463 bird species that occur regularly in Canada.
Developed by Environment and Climate Change Canada and Birds Canada, The State of Canada’s Birds 2024 report provides accessible, scientific insight into the population status of 463 bird species that occur regularly in Canada.
Population changes in Canada’s bird species since 1970
168 species (36 percent) have decreased in population
143 species (31 percent) have increased in population
98 species (21 percent) have experienced little change in population
54 species (12 percent) are data deficient (not enough information to determine a trend)
Long Description
A spaghetti chart showing the population change in Canada’s birds from 1970 to 2020. The graph shows Waterfowl increase by 46%, Birds of Prey increase by 35%, Wetland Birds increase by 21%, Marine Birds increase by 0%, Forest Birds decrease by 1%, Arctic Birds decrease by 28%, Long-Distance Migrants decrease by 29%, Shorebirds decrease by 42%, Aerial Insectivores decrease by 43%, and Grassland Birds decrease by 67%.
Key findings from the report
Three bird groups have increased in population since 1970: waterfowl (46 percent), birds of prey (35 percent), and wetland birds (21 percent). From banning DDT (dichlorodiphenyltrichloroethane) to save the Peregrine Falcon campaign to conserving wetlands for birds like the Least Bittern, conservation action is having positive impacts on bird populations.
A crisis is unfolding in the Prairies. Grassland birds have declined by 67 percent since 1970, with no sign of levelling off. The destruction and degradation of native grasslands is the single greatest threat to this group of birds and biodiversity in general. Without urgent action to conserve their habitat, species like the Chestnut-collared Longspur and the Burrowing Owl may be lost from Canada, along with the ecosystem services that healthy habitats provide.
Shorebirds are continuing to decline, with a drop of 42 percent since 1970. The populations of some species, like the Hudsonian Godwit, have fallen by over 90 percent. Shorebirds face many threats, as many make perilous, long-distance migrations and breed in vulnerable habitats, like the Arctic and the Prairies.
Aerial insectivores—birds that hunt for insects in flight—have declined by 43 percent since 1970. Although the decline has subsided recently, populations are far lower than they were in the 1970s. Declines in insect populations have likely been one of the major causes, and reversing these declines could help save threatened birds like the Bank Swallow and the Chimney Swift.
The threats birds face in Canada
Habitat loss threatens birds across Canada and affects migratory birds throughout their annual journeys. The destruction and degradation of habitats is driven by agricultural practices, urban development, natural resource extraction, and infrastructure.
Climate change is a significant and growing threat to birds in Canada. Northern birds are likely to be most affected, as the changing climate alters the timing of events like insect and plant emergence. An increase in extreme weather events like storms, floods, droughts, and wildfires also puts birds at risk.
Outdoor and feral cats kill more than 100 million birds in Canada annually.
Collisions with windows are estimated to kill more than 25 million birds in Canada every year, especially when migration brings many species into urban and suburban areas. Millions of birds are also killed annually through collisions with vehicles and power lines.
Contaminants and waste affect birds in all environments. Pesticides and other contaminants from agriculture and industry threaten both birds and their habitats. Ingestion of plastics also causes mortality, especially in marine birds.
How Canadians can help protect birds
Create and protect habitats for birds. Plant native plants, reduce pesticide use, and make windows safer for birds.
Keep cats indoors or provide outside time with a leash or catio. Leash dogs in sensitive natural areas.
Help fight climate change. Use less fossil fuel, waste less food, use less energy at home, and eat less meat.
Volunteer for conservation. Take part in citizen science and support local, regional, and national organizations that work to conserve birds and their habitats. Participate in tree plantings, invasive species control, habitat creation, and restoration projects.
Choose bird-friendly products. If you are able, choose organic produce, bird-friendly coffee, certified paper products, sustainable seafood, and grass-fed beef.
Buy less and produce less waste. Use fewer single-use plastics, dispose of garbage and recycling properly, and help with clean-ups.
Learn more about birds, contribute to an inclusive and accessible birding community, and advocate for bird-friendly initiatives, policies, and conservation action.
Headline: Verizon anuncia nueva ronda de apoyos para pequeñas empresas
A través de Verizon Small Business Digital Ready, las pequeñas empresas pueden acceder a cursos gratuitos en inglés y español, capacitación con expertos en pequeñas empresas y la oportunidad de solicitar un apoyo de $10,000.
La plataforma también se ha asociado con Next Street para compartir un “Mercado de financiación para pequeñas empresas”, donde los propietarios de empresas pueden buscar oportunidades de préstamos y subvenciones según sus necesidades comerciales.
El programa ha llegado a más de 350,000 empresas en todo el país, de las cuales el 51% son propiedad de mujeres y el 62% son propiedad de personas de color o hispanas.
BASKING RIDGE, NJ – Como el acceso a capital es un desafío común para los emprendedores, Verizon anuncia nuevas oportunidades de financiamiento de subvenciones de $10,000 disponibles para pequeñas empresas a través de la plataforma Verizon Small Business Digital Ready. Los propietarios de pequeñas empresas que se registren en la plataforma pueden recibir acceso gratuito y personalizado a más de 50 cursos en línea en inglés y español, oportunidades de tutoría con expertos de la industria, entrenamiento de expertos personalizados y en grupo, eventos comunitarios virtuales y en persona y la oportunidad de postularse para obtener financiamiento mediante subvenciones.
El programa es operado en asociación con Next Street y Local Initiatives Support Corporation (LISC). Hasta la fecha, Small Business Digital Ready ha apoyado a más de 350,000 pequeñas empresas en todo el país, de las cuales el 51% son propiedad de mujeres y el 62% son propiedad de personas de color o hispanas.
Hasta el 13 de diciembre de 2024 a las 11:59 p.m. (hora del Pacífico), las pequeñas empresas pueden acceder a la solicitud para esta ronda de financiamiento de subvenciones registrándose primero en el portal Verizon Small Business Digital Ready y completando al menos dos cursos, capacitación o eventos comunitarios, en cualquier combinación entre 1 de julio de 2024 y 13 de diciembre de 2024 a las 11:59 p.m. PT. Las pequeñas empresas que completen la solicitud serán elegibles para recibir una subvención de $10,000.
“Las pequeñas empresas son el pilar de las comunidades y tenemos la responsabilidad de ayudarles a prosperar”, dijo Donna Epps, Chief Responsible Business Officer de Verizon. “Verizon Small Business Digital Ready se creó para impulsar a los propietarios de pequeñas empresas a través de capacitación en habilidades digitales, y estamos orgullosos de ofrecer otra oportunidad de apoyo a esta comunidad diversa y en crecimiento de propietarios de pequeñas empresas en todo el país”.
La plataforma también está lanzando el “Mercado de financiación para pequeñas empresas”, un repositorio de oportunidades de financiación y préstamos disponibles para pequeñas empresas, y ha lanzado “Learning Paths”. Rutas de aprendizaje como “Mejora tu acceso al capital” y “Construye tu marca única” invitan a los usuarios a completar una serie de recursos para ayudarlos a acercarse a lograr un objetivo comercial.
Verizon no es un prestamista ni un corredor. El mercado de financiación para pequeñas empresas es proporcionado por Next Street Financial LLC. No todas las solicitudes son aprobadas. Todas las decisiones de financiación las toman terceros proveedores de capital. Las calificaciones, los requisitos, la aprobación y los términos del préstamo varían según el tipo de préstamo, las calificaciones del solicitante y el estado.
Source: United States Senator for Louisiana Bill Cassidy
Louisiana Energy Security Summit: Unleashing American Abundance in a Changing Global Landscape
9:00 AM – 9:10 AM
Opening Remarks Welcome by Sen. Bill Cassidy, setting the stage for the day’s discussions on leveraging our state’s energy and other resources to enhance U.S. economic security.
Sen. Bill Cassidy, M.D. (R-LA)
9:10 AM – 9:30 AM
Fireside Chat: Louisiana’s Role in Strengthening America’s National Interests in a Changing Global Landscape A conversation between Sen. Bill Cassidy and Hon. Mark W. Menezes on the indispensable role Louisiana plays in promoting U.S. economic security.
Sen. CassidyHon. Mark W. Menezes, Former Deputy Secretary, U.S. Department of Energy
9:30 AM – 10:00 AM
Protecting U.S. Interests Against Unfair Trade Practices This panel exposes how overseas adversaries exploit weak environmental and labor standards to create a competitive advantage in trade and suggests potential solutions to hold foreign polluters accountable.
Maureen Hinman, Co-Founder and Chairman, Silverado Policy AcceleratorCatrina Rorke, Senior Vice President, Policy and Research, Climate Leadership Council Hon. James Connaughton, Former Chairman of the White House Council on Environmental Quality and Director of the White House Office of Environmental PolicyModerated by: George David Banks, Former Special Assistant for International Energy and Environment at the National Economic and National Security Councils, the White House
10:00 AM – 10:45 AM
Executive Insights: Overcoming Competitive Challenges in Global Markets CEOs discuss Louisiana’s potential in advancing American interests, highlighting key investments and policy solutions needed to level the playing field against unfair global competition.
Massimo Toso, President and CEO, Buzzi UnicemUSADavid Hardy, President of North America, Orsted Caroline Reily, Co-Founder & CEO, Aluminum TechnologiesDrew Marsh, Chairman of the board and CEO, EntergyMark Widmar, CEO, First Solar Moderated by: Sen. Cassidy
10:45 AM – 11:30 AM
Trade, Energy & Manufacturing: Implications for U.S. Industries and Competitiveness Further explores the challenges posed by unfair competition and what can be done to level the playing field for Louisiana’s industry at home and abroad.
Kevin Gundersen, Vice President of Global Corporate Communications and Government Affairs, Huntsman CorporationCalvin Hart, Vice President and General Manager, Nucor Steel LouisianaJerae Carlson, Sr. Vice President, CemexScott Nielson, Vice President of Environmental, Sustainability & Innovation, Ash Grove Cement CompanyLinda Dempsey, Vice President, Public Affairs, CF IndustriesModerated by: Sarah Stewart, CEO and Executive Director, Silverado Policy Accelerator
11:30 AM – 12:00 PM
Louisiana Spotlight: State-Level Solutions Industry leaders discuss the key role of Louisiana’s oil, gas, and chemical industries in fostering a secure energy future. This panel will also highlight opportunities for innovation and job creation in Louisiana’s key manufacturing sectors.
Tommy Faucheux, President, Louisiana Mid-Continent Oil and Gas Association (LMOGA)Greg Bowser, President and CEO, Louisiana Chemical Association (LCA)Will Green, CEO, Louisiana Association of Business and Industry (LABI)Mike Moncla, President, Louisiana Oil and Gas Association (LOGA)Moderated by: Desiree Lemoine, Director of Governmental Affairs, TJC group
12:00 PM – 1:00 PM
Load Growth and Energy Demand: Higher future demand for energy will bring a host of opportunities, risks and challenges
Nate Hill, Head of Energy Policy, Amazon Tom Neyhart, founder and executive chairman, PosigenBenjamin T. Reinke, Ph.D., Vice President of Global Business Development, X EnergyAndrey Shuvalov, Vice President U.S. Energy Transition, ShellModerated by: Tom Hassenboehler, Co-Founder and Managing Partner, CO2EFFICIENT
Carbon Capture: Cutting-edge technologies for reducing carbon footprints
Vikrum Aiyer, Global Head of Public Policy, HeirloomDouglas Chan, Chief Operating Officer, ClimeworksMichael Manteris, Co-President, Blue Sky InfrastructurePatrice Lahlum, Vice President of Carbon Management, Great Plains InstituteBradley Ives, Executive Director, Institute for Energy Innovation, Louisiana State UniversityColleen Moss, Managing Director, ClearPathModerated by: Lynn Abramson, President, Clean Energy Business Network
Critical Minerals, Mining, and Processing: Regional to global policies
Hon. Aurelia S. Giacometto, Secretary, Louisiana Department of Environmental Quality (LDEQ) Marcio Paes Barreto, Frontiers Initiative & EverCore EnergyJohn Flake, PhD., Louisiana State UniversityChris Young, Chief Strategy Officer, ElementUSAModerated by: Philip Reichert, Southern Regional Director, American Conservation Coalition
1:00 PM – 1:45 PM
Louisiana’s Competitive Advantage: Leading the Globe in Low-Emissions Manufacturing Louisiana’s energy sector boasts a rich history and a bright future. Industry experts discuss how Louisiana is transforming its manufacturing sector to lead in low-emissions production, creating jobs, and driving economic growth.
Christen Campbell, North America Energy & Sustainable Technologies and Site Development Director, BASFAndrew Connolly, vice president and general manager, Low-Carbon Hydrogen Large Projects, Hydrogen Large Projects, Air ProductsGreg Upton, PhD, Executive Director & Associate Professor-Research, Center for Energy Studies Louisiana State UniversityVanessa Martin, Driftwood LNG Project Director, WoodsideFrank J. Macchiarola, Chief Policy Officer, American Clean PowerModerated by: Xan Fishman, Senior Director, Energy Program, Bipartisan Policy Center
1:45 PM – 2:30 PM
The Bayou and Beyond: Enhancing U.S. Competitiveness through Exports Louisiana industries can advance U.S. leadership in the global marketplace through exports.
Dr. Paul Schubert, CEO, Strategic Biofuels LLCDr. Robert R. Twilley, Vice President, Office of Research & Economic Development, Louisiana State University Will Latta, Vice President, Babcock & WilcoxMatt Barr, Vice President of State Government & Community Affairs, Cheniere EnergyHon. Kimberly A. Reed, Former Chairman, U.S. Export Import Bank, 2019-2021 Moderated by:Anna Johnson, Executive Director, West Baton Rouge Chamber of Commerce
2:30 PM – 3:15 PM
Louisiana’s Liquid Gold: Strengthening U.S. Geopolitical Influence through Energy Leadership This panel explores the critical role of Louisiana’s natural gas industry in strengthening U.S. geopolitical influence and securing a prosperous energy future. Experts will cover how increased domestic natural gas production can foster stability amid geopolitical uncertainties and drive economic growth.
Bob Pender, Executive Co-chairman and Founder, Venture Global LNGT. Lane Wilson, Senior Vice President and General Counsel, WilliamsHon. Mark W. Menezes, Former Deputy Secretary, U.S. Department of Energy, 2018-2021Hon. Neil Chatterjee, Former Chairman, US. Federal Energy Regulatory CommissionModerated by: Bob Stout, Senior Fellow, Duke Nicholas Institute for Energy, Environment & Sustainability
Source: US Energy Information Administration – EIA
Headline: EIA expects average U.S. heating costs this winter to be consistent with last winter
U.S. ENERGY INFORMATION ADMINISTRATION WASHINGTON DC 20585
FOR IMMEDIATE RELEASE October 8, 2024
The U.S. Energy Information Administration (EIA) expects most U.S. households, on average, will pay about the same to heat their homes as they did last winter. A notable exception is that EIA expects Midwestern homes heated by natural gas will pay about 11% more on average for heat than last winter.
In its 2024 Winter Fuels Outlook, EIA forecasts a colder winter, leading to more energy consumption for heat. With energy prices similar to or slightly lower than last winter, EIA expects spending for many households will be about the same as last winter.
“There’s a lot of uncertainty about the weather over an entire season—not to mention uncertainty over commodity prices,” said EIA Administrator Joe DeCarolis.
Comparing this winter’s forecast for the average U.S. household with last winter’s results, EIA expects a 1% increase in fuel bills for homes heated by natural gas, a 5% decrease for homes heated by heating oil, a 2% increase for homes heated by electricity, and a negligible change in costs for homes heated by propane. Because weather is a key source of uncertainty in the forecast, the report also includes a warmer and colder case to produce a range of possible expenditures by fuel type.
The Winter Fuels Outlook is a supplement to EIA’s October Short-Term Energy Outlook (STEO), and EIA will update it every month through February to reflect changes in commodity prices and temperatures. This year is the first year that EIA’s forecast distinguishes between primary heating fuels consumed for space heating and other end uses.
EIA will host a webinar on Wednesday, October 9, at 11:00 a.m. ET to discuss its forecasts. The webinar is open to the public, but registration is required.
Other highlights from the October STEO include:
Brent crude oil spot price: EIA expects the Brent crude oil spot price will average about $76 per barrel in the fourth quarter of 2024 and about $78 per barrel in 2025, both lower than EIA’s September forecast. EIA revised its forecasts because the September Brent spot price was lower than expected and because the agency expects demand for petroleum products will be lower than it previously forecast. The impact of military action in the Middle East is a key source of uncertainty in the crude oil price forecast.
EIA’s revised forecast for crude oil prices also contributed to revisions in the agency’s price forecasts for distillate fuels, gasoline, and other petroleum products, which are reflected in the STEO table of notable revisions.
U.S. oil production: EIA expects U.S. crude oil production will average 13.5 million barrels per day in 2025, a record high. EIA had previously expected domestic crude oil production would average 13.7 million barrels per day next year but revised its production forecast lower largely due to its expectation of lower crude oil prices.
Electricity consumption: EIA expects 2% more U.S. electricity consumption this year than in 2023 and expects a further 2% growth in 2025. Summer temperatures in 2024 were warmer than last summer, especially in the upper Midwest and Northeast regions, which helped to push up U.S. electricity demand this year. Increased electricity consumption through 2025 is led by the industrial sector, as planned battery and semiconductor chip manufacturing comes online. In the commercial sector, electricity demand from data centers in some regions contributes to the forecast for greater electricity demand.
The full October 2024 Short-Term Energy Outlook is available on the EIA website.
The product described in this press release was prepared by the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy. By law, EIA’s data, analysis, and forecasts are independent of approval by any other officer or employee of the U.S. government. The views in the product and this press release therefore should not be construed as representing those of the U.S. Department of Energy or other federal agencies.
Headline: Moody’s Wins Top Ranking in ChartisRiskTech100 for Third Consecutive Year
NEW YORK–(BUSINESS WIRE)– Moody’s Corporation (NYSE:MCO) has been awarded the number-one overall ranking in the Chartis RiskTech100® 2025 report, marking Moody’s third consecutive year in the top position.
The Chartis RiskTech100 is the most comprehensive study of the world’s leading providers of risk and compliance technology. The top ranking recognizes Moody’s unmatched ability to provide its customers with a holistic view of their risks through research, data, and analytics.
“Winning the top award from Chartis for a third year in a row is a strong testament to how Moody’s stays on the cutting edge of developments in risk management technology,” said Rob Fauber, President and Chief Executive Officer of Moody’s. “We seek to constantly innovate across our suite of products and solutions and put new technologies and insights into the hands of our customers as quickly as possible.”
In addition to earning the highest overall position, Moody’s won in 12 individual categories:
Market Presence (new)
Strategy
Functionality
Banking
Insurance
Climate Risk
Credit Portfolio Management (new)
Financial Crime – Data
Credit Data – Wholesale
Credit Data – Collateralized Loan Obligation (CLO)
Credit Risk for the Banking Book
Current Expected Credit Losses (CECL)
“In maintaining its position at the top of the RiskTech100, Moody’s has demonstrated its effective and strategic use of the latest technology to enable its data and analytics to be efficiently accessed, distributed, and consumed,” said Sid Dash, Chief Researcher at Chartis. “Moreover, Moody’s continues to expand and develop its analytical tools and functionality across a variety of business lines, from banking to insurance and securitization to compliance.”
The 2025 winners of RiskTech100 were selected through a nearly year-long process involving vendor briefings and discussions with risk technology buyers and end-users. The research directors and lead analysts at Chartis Research then made the final decisions.
Chartis Research is the leading provider of research and analysis on the global market for risk technology. Their goal is to support enterprises that drive business performance through improved risk management, corporate governance, and compliance. Chartis strives to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
For more information on Moody’s innovation and technology, visit Moodys.com/Innovation.
ABOUT MOODY’S CORPORATION
In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 15,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at moodys.com.
TUPELO, Miss., Oct. 08, 2024 (GLOBE NEWSWIRE) — Renasant Corporation (NYSE: RNST) (the “Company”) will announce 2024 third quarter results following the NYSE’s closing on Tuesday, October 22, 2024. The Company will hold executive management’s quarterly webcast and conference call with analysts on Wednesday, October 23, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time).
The webcast is accessible through Renasant’s investor relations website at http://www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=YvWBKrUB. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 Third Quarter Earnings Webcast and Conference Call. International participants should dial 1-412-902-4145 to access the conference call.
The webcast will be archived on http://www.renasant.com and will remain accessible for one year. A replay can be accessed via telephone by dialing 1-877-344-7529 in the United States and entering conference number 8626805 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until November 6, 2024.
About Renasant Corporation:
Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $17.5 billion and operates 185 banking, lending, mortgage, and wealth management offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis.
Note to Investors:
This news release may contain, or incorporate by reference, statements which may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements usually include words such as “expects,” “projects,” “anticipates,” “believes,” “intends,” “estimates,” “strategy,” “plan,” “potential,” “possible” and other similar expressions.
Prospective investors are cautioned that any such forward-looking statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, significant underperformance in our portfolio of outstanding loans, and competition in our markets. Management believes that the assumptions underlying the Company’s forward-looking statements are reasonable, but any of the assumptions could prove to be inaccurate. Investors are urged to carefully consider the risks described in the Company’s filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at http://www.renasant.com and the SEC’s website at http://www.sec.gov. The Company expressly disclaims any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Contacts
For Media: John S. Oxford Senior Vice President Chief Marketing Officer (662) 680-1219 joxford@renasant.com
For Financials: James C. Mabry IV Executive Vice President Chief Financial Officer (662) 680-1281 jim.mabry@renasant.com
[opening remarks follow; full transcript will be available shortly]
The nightmare in Gaza is now entering an atrocious, abominable second year.
This has been a year of crises. Humanitarian crisis. Political crisis. Diplomatic crisis. And a moral crisis.
Over the last year — following the horrific terror attacks perpetrated by Hamas on 7 October — Gaza has become ground zero to a level of human suffering that is hard to fathom.
More than 41,000 [Palestinians] have been reportedly killed, mostly women and children. Thousands more are missing and believed to be trapped under the rubble.
Virtually the entire population has been displaced – and no part of Gaza has been spared.
Journalists have been killed at a level unseen in any conflict in modern times.
And humanitarians – those who have dedicated their lives to helping others – are facing unprecedented, epic dangers.
A record number – including so many members of our UN family — have paid with their lives.
The vast majority of those killed were part of the backbone of humanitarian relief operations in Gaza — UNRWA.
In the midst of all the upheaval, UNRWA — more than ever — is indispensable. UNRWA — more than ever — is irreplaceable.
That’s why I have written directly to Israeli Prime Minister Benjamin Netanyahu to express profound concern about draft legislation that could prevent UNRWA from continuing its essential work in the Occupied Palestinian Territory.
Such a measure would suffocate efforts to ease human suffering and tensions in Gaza, and indeed, the entire Occupied Palestinian Territory.
It would be a catastrophe in what is already an unmitigated disaster.
Let’s be clear in practical terms what such a measure would mean.
Operationally, the legislation would likely deal a terrible blow to the international humanitarian response in Gaza.
UNRWA’s activities are integral to that response. It is not feasible to isolate one UN agency from the others.
It would effectively end coordination to protect UN convoys, offices and shelters serving hundreds of thousands of people.
Without UNRWA, the delivery of food, shelter and health care to most of Gaza’s population would grind to a halt.
Without UNRWA, Gaza’s 660,000 children would lose the only entity that is able to re-start education, risking the fate of an entire generation.
And without UNRWA, many health, education and social services would also end in the occupied West Bank, including East Jerusalem.
If approved, such legislation would be diametrically opposed to the UN Charter and in violation of Israel’s obligations under international law.
National legislation cannot alter those obligations.
And politically, such legislation would be an enormous setback to sustainable peace efforts and to a two-state solution – fanning even more instability and insecurity.
This draft legislation comes as the situation in which Gaza is in a death spiral.
The latest developments in the north are especially dire.
We are witnessing a clear intensification of military operations by Israel.
Residential areas have been attacked. Hospitals ordered to evacuate. And electricity cut off – with no fuel or commercial goods allowed in.
Around 400,000 people are being pressed yet again to move south to an area that is overcrowded, polluted and lacking the basics for survival.
Consider the situation for a family in the Jabalya refugee camp in the north.
They were ordered to leave their homes in October 2023.
Active operations subsided, and they returned.
They were once again ordered to evacuate in December 2023.
Active operations subsided, and they returned.
They were ordered again to evacuate in May 2024.
Active operations subsided, and they returned.
And just this month, they were once again ordered to evacuate.
The conclusion is clear: there is something fundamentally wrong in the way this war is being conducted.
Ordering civilians to evacuate does not keep them safe if they have no safe place to go and no shelter, food, medicine or water.
No place is safe in Gaza and no one is safe.
International law is unambiguous: civilians everywhere must be respected and protected – and their essential needs must be met, including through humanitarian assistance. All hostages must be released.
I strongly condemn all violations of International Humanitarian Law in Gaza.
Meanwhile, southern Gaza is overwhelmed.
Supplies are running low and Israeli authorities are only allowing a single, unsafe road for aid from the Kerem Shalom crossing, where humanitarians face active hostilities and violent, armed looting, fueled by desperation and the collapse of public order and safety.
I have warned for months of the risks of the conflict spreading.
The Middle East is a powder keg with many parties holding the match.
The situation in the occupied West Bank is boiling over.
Now, in Lebanon, attacks – including on civilians — are threatening the entire region.
Over the last few days – exchanges of fire between Hizbullah and others in Lebanon and the Israel Defense Forces — have intensified across the Blue Line, in total disregard of Security Council resolutions 1701 and 1559.
Large-scale Israeli strikes deep into Lebanon – including Beirut — have killed more than 2,000 people over the last year – and 1,500 in just the past two weeks alone.
The toll has already surpassed the 2006 war in Lebanon.
Attacks by Hizbullah and others south of the Blue Line have killed at least 49 people over the last year.
Lebanese authorities report over one million people have been displaced in Lebanon – and 300,000 people have fled into Syria.
Over 60,000 people remain displaced from northern Israel.
Recently, the IDF started incursions across the Blue Line.
We are on the verge of an all-out war in Lebanon – with already devastating consequences. But there is still time to stop.
The sovereignty and territorial integrity of all countries must be respected.
Members of our own peacekeeping force in Lebanon — UNIFIL – continue to carry out their mandates to the extent possible.
The mission relies on full compliance by all parties. I want to again express my gratitude and admiration to our peacekeepers and Troop Contributing Countries.
The men and women of UNIFIL are serving in what is today the most challenging environment for peacekeepers anywhere.
All actors must ensure their safety and security.
And we must do far more on the humanitarian front.
The US $426 million humanitarian aid appeal for Lebanon is only 12 per cent funded.
I urge donors to step up.
Dear ladies and gentlemen of the media,
The conflict in the Middle East is getting worse by the hour — and our warnings about the horrific impacts of escalation keep coming to pass.
Every air strike, every missile launch, every rocket fired, pushes peace further out of reach and makes the suffering even worse for the millions of civilians caught in the middle.
That is why we cannot and will not give up on our calls for an immediate ceasefire both in Gaza and Lebanon, the immediate and unconditional release of hostages, and immediate lifesaving aid to all those who desperately need it.
That is why we cannot and will not give up on our calls for irreversible action for a two-state solution between Israel and Palestine.
All people in the region deserve to live in peace.
BNZ is rolling out its latest anti-scam and fraud measure, launching an ‘online banking lock’ feature which gives customers the ability to disable all online banking activity and lock access to their online banking if they suspect a scammer has gained access to their accounts.
“BNZ is continually looking for new ways to enhance protection for customers and combat criminal scammers,” says BNZ’s Head of Financial Crime Ashley Kai Fong.
“While anyone who thinks they’re being scammed should call their bank straight away, this new tool – available in the BNZ app – gives customers the ability to lock their online banking while they’re making the call, potentially speeding up the process to lock their accounts and shut scammers out,” says Kai Fong.
Once the online account lock is activated, it disables all current internet banking and BNZ mobile account activity and locks all access.
To prevent scammers from regaining access, customers will need to verify their identity at a BNZ branch to regain access to their accounts.
Customers will still be able to use their cards online, instore and at ATMs while their account is locked, unless they have also chosen to block their card. To minimise disruption, scheduled payments, like rent or mortgage payments, will still go out as scheduled.
Kai Fong says BNZ invests tens of millions of dollars every year in scam and fraud protection measures.
“While there is no silver bullet in the fight against scammers, this is another tool in the anti-scam and fraud toolbox to help protect our customers. It’s just one of a number of new features, BNZ has introduced, including:
introducing a way for customers to verify their identity through the BNZ app when prompted by a BNZ staff member to confirm it is the bank calling
introducing additional two-factor authentication (2FA) within internet banking for high-risk actions such as changing personal contact details, creating a new payee, editing an existing payee, or making payments to unsaved payees. This is required regardless of whether a customer has already completed 2FA in their current session.
deploying ID readers in branch to help identify fraudulent documents
Kai Fong says customers also have a role to play in keeping themselves safe from scams and fraud:
keeping account details, passwords and pin numbers safe
never clicking on links or attachments sent by someone you don’t know or that seem out of character for someone you do know
keeping your computer and phone security software up to date
contacting your bank as soon as possible if you think you’ve been scammed
Top tips to stay scam savvy – BNZ will never:
email or text you links to online banking and ask you to log in
send you a text message with a link to a website, or link to call us
ask you for information about your PIN number, bank account number, or password
ask you to verbally share the authentication codes sent to you by text or email, even with a BNZ staff member
ask you to transfer money to help catch a scammer or a bank employee who is scamming customers
send you a text message about account issues with a link to log in
ask you to download software to access your Internet Banking remotely
use international phone numbers to call or send you notifications.
Implementation in the EU of the Basel III reform package will lead to a 3.3% increase in minimum required capital (MRC) by 2030 for a sample of 36 German financial institutions. The Bundesbank calculated this result in a study based on data from large institutions in particular. Once the transitional arrangements cease to apply in 2033, the institutions in the sample are expected to see a 10.9% increase in MRC. The study published today[1] thus broadly confirms the results of the previous year. It corroborates the finding that the German banking sector will be well able to handle the impact of the revised Basel III reform package. It should be noted that the sample is dominated by large banks which use internal models and that small and medium-sized institutions are extremely underrepresented. A rough extrapolation for Germany’s banking sector as a whole shows that increases in the range of 8% can be expected by 2033 (see the chart). Specifically, this translates to an aggregate increase in tier 1 MRC of €30 billion up to 2033. By way of comparison, the banking system currently holds around €165 billion in common equity tier 1 (CET1) capital above the required amount.
Headline: Halo Studios: New name, new engine, new games, new philosophy
Studio Head Pierre Hintze defines this less like a clean break, and more like the turning of a page:
“If you really break Halo down, there have been two very distinct chapters. Chapter 1 – Bungie. Chapter 2 – 343 Industries. Now, I think we have an audience which is hungry for more. So we’re not just going to try improve the efficiency of development, but change the recipe of how we make Halo games. So, we start a new chapter today.”
The First Step
Switching from the studio’s proprietary Slipspace Engine to Unreal is a key part of that change. Previously, 343 Industries needed a large portion of its staff simply to develop and upkeep the engine its games ran on. “We believe that the consumption habits of gamers have changed – the expectations of how fast their content is available,” says Hintze. “On Halo Infinite, we were developing a tech stack that was supposed to set us up for the future, and games at the same time.”
As gaming evolves, and players increasingly point out how long it takes to see new games from their favorite series, the team at Halo Studios felt the need to react. As COO Elizabeth van Wyck puts it:
“The way we made Halo games before doesn’t necessarily work as well for the way we want to make games for the future. So part of the conversation we had was about how we help the team focus on making games, versus making the tools and the engines.”
Alongside the wider changes to how the studio is set up (which you can read more about below), adopting Unreal means Halo Studios is more able to create games with a focus that can satisfy fans – even setting up multiple teams to create different games simultaneously. But Unreal also comes with in-built benefits that would have taken years of work to replicate with Slipspace:
“Respectfully, some components of Slipspace are almost 25 years old,” explains Studio Art Director, Chris Matthews. “Although 343 were developing it continuously, there are aspects of Unreal that Epic has been developing for some time, which are unavailable to us in Slipspace – and would have taken huge amounts of time and resources to try and replicate.
“One of the primary things we’re interested in is growing and expanding our world so players have more to interact with and more to experience. Nanite and Lumen [Unreal’s rendering and lighting technologies] offer us an opportunity to do that in a way that the industry hasn’t seen before. As artists, it’s incredibly exciting to do that work.”
There’s another in-built benefit – Unreal is familiar to huge parts of the wider gaming industry. Where developers would have to spend time learning how to use Slipspace when joining 343, Halo Studios’ adoption of the industry-leading engine makes it a far smoother process to bring in new talent (and the studio is indeed hiring for its new projects now):
“It’s not just about how long it takes to bring a game to market, but how long it takes for us to update the game, bring new content to players, adapt to what we’re seeing our players want,” says Van Wyck. “Part of that is [in how we build the game], but another part is the recruiting. How long does it take to ramp somebody up to be able to actually create assets that show up in your game?”
With the move to Unreal, the on-ramp is shorter, the experience is there, and the series can grow far more quickly and organically than ever before.
Forging Ahead
Of course, Halo Studios needed to be confident in the switch to Unreal – this isn’t a decision taken lightly. The team had to be sure that the first Halo games to come out of a non-Slipspace engine would look, feel, and sound right. The team began experimenting, and it resulted in a research project known as Project Foundry – the source for all the new clips we saw today.
“When we decided to do Foundry, it wasn’t, at that point, in our plan,” says Van Wyck. “But we needed to pause and – ‘validate’ is not the right word, but educate and understand what our capability is, and assess it, so we actually know we’re on the right path.
“We’ve intentionally been really quiet up to this point, but I think [today] is about just sharing where we are, what our priorities are as a studio, and where the team is. We’re really proud of what came out of Foundry.”
So what does Foundry represent? The team is clear that this is not a new game – but nor is it a traditional tech demo. It isn’t just an exploration of what’s possible with this engine – it’s a true reflection of what would be required for a new Halo game using Unreal, and a training tool for how to get there. Foundry has been made with the same rigor, process, and fidelity as a shipped game would be.
“Where this type of work’s been done historically, across the industry, it can contain a lot of smoke and mirrors,” explains Matthews. “It sometimes leads players down paths where they believe it’s going to be one thing, and then something else happens. The ethos of Foundry is vigorously the opposite of that.
“Everything we’ve made is built to the kind of standards that we need to build for the future of our games. We were very intentional about not stepping into tech demo territory. We built things that we truly believe in, and the content that we’ve built – or at least a good percentage of it – could travel anywhere inside our games in the future if we so desire it.”
Hintze goes further: “It’s fair to say that our intent is that the majority of what we showcased in Foundry is expected to be in projects which we are building, or future projects.”
And what we’ve seen of Foundry promises incredible things. Named after the Foundry within Halo’s lore – the central forge of the megastructure used to create the Halo Rings themselves – the project saw the team set out to create three distinct biomes in the style of Halo. The goal was, as Matthews puts it, to make something old, something new, and something truly alien.
For something old, we see a biome inspired by the Pacific Northwest – a staple of the series – but in dramatic new form. Waterfalls crash over mountains, a running creek becomes the site of a tableau pitching the Chief against two Covenant Elites, and the team pushed Unreal to include as much foliage as technically possible.
For something new, we see the Coldlands location, a region locked in a deep freeze, with snowdrifts covering plateaus, and ice reflecting what’s above and refracting what’s below. And for something alien, we see the Blightlands, a brand new take on a Halo location – a world consumed by the parasitic Flood. The express purpose of the Blightlands was to see how this new-look Halo team could push the world itself farther than previous Halo games – the results speak for themselves.
Even the familiar looks new in Foundry. The Chief’s armor has been modelled with extreme care, down to individual panels on his combat gloves. An Elite’s energy sword now feels less like a solid object and more reflective of the name – a crackling swoosh of dangerous energy. The aim wasn’t just to push the studio, but the engine itself – Foundry is designed to do things that we haven’t seen in games using Unreal across the industry, Halo began its life as a graphical showcase for the original Xbox – the goal is to make that so again.
Halo Studios has worked closely with Unreal’s creators, Epic Games, to ensure they can reach that lofty goal.
“Halo is such an incredible franchise and it’s awesome to see Halo Studios already pushing the boundaries of Unreal Engine 5,” said Bill Clifford, Vice President and General Manager of Unreal Engine at Epic Games. “We’re honored to support the Halo team in realizing their creative visions through Unreal Engine. Project Foundry’s work demonstrates how they can bring Halo to life with beautifully detailed, uncompromised worlds.”
Of course, the soul of Halo isn’t just in how it looks, but how it feels – the intrinsic dance of its combat, the thud of the weapons, and the sense that you’re inhabiting the Master Chief’s armor. While Foundry may be a primarily visual project, Halo Studios is deeply invested in retaining the essence of what players love about Halo:
“I think it’s pretty well known that [switching engine] has been a topic that the studio has thought about for a long, long time,” says Van Wyck. “[The release of] Unreal Engine 5 was when we felt like we could make Halo games that respect and reflect the true soul of Halo while also being able to build games that can deliver on the scale and ambition of content that players want.”
“The spirit of Halo is more than just the visuals,” agrees Matthews. “It’s the lore. It’s the physics. Playing as the Chief, you’re this huge tank of a soldier – it’s the way that he moves, he feels. We’re all really obsessed about what our players love about Halo. We’re constantly listening to this feedback – and that’s at the core of any initiative like Foundry, or any intention that the studio has about how we move forwards.”
“We’re thinking about the intangibles,” Hintze adds. “The interaction with the Master Chief, or your Spartan, or the enemies. We are very careful about the decisions we’re making in that space – down to the precision and authenticity of the weapons, the authenticity of the animations. There are a list of nuances which we use to verify that we’re on track.”
Beyond the Visor
So, let’s talk about what’s coming beyond Foundry. As you might expect, the team isn’t talking about exactly what those new games will be right now – we’re at the beginning of this new chapter, not the final stages, and it’s fair to say that a new Halo game isn’t imminent. Halo Infinite will still be supported through the Slipspace Engine – you can expect more Operations, and updates to its Forge mode. In esports, Year 4 of the Halo Championship Series, using HaloInfinite, has just been announced. But in the background, the next steps for Halo will be taken.
The quietness is by design. Hintze makes clear that the priority right now is on doing the work, not simply talking about it:
“One of the things I really wanted to get away from was the continued teasing out of possibilities and ‘must-haves’. We should do more and say less. For me, I really think it is important that we continue the posture which we have right now when it comes to our franchise – the level of humility, the level of servitude towards Halo fans.
“We should talk about things when we have things to talk about, at scale. Today, it’s the first step – we’re showing Foundry because it feels right to do so – we want to explain our plans to Halo fans, and attract new, passionate developers to our team. The next step will be talking about the games themselves.”
What is clear is that, yes, it’s Halo games – plural – in development right now. Where Halo Infinite saw practically the entire studio focused on a single, evolving project, Halo Studios has recalibrated:
“We had a disproportionate focus on trying to create the conditions to be successful in servicing Halo Infinite,” says Hintze. “[But switching to Unreal] allows us to put all the focus on making multiple new experiences at the highest quality possible.”
A major part of this shift has been in reorganizing the structure of Halo Studios as a whole, in order to give development teams what they need to make something new.
“At the end of the day, if we build the games that our players want to play, that’s how we’ll be successful,” explains Van Wyck. “That’s what should motivate what we build. That’s also what this structure has done – we want the people that are day-in-day-out making the games to be the ones to make the decisions on the games.”
The team will also be seeking more input from outside the studio on those decisions:
“We’re seeking earlier and earlier, wider and wider feedback from our players,” she continues. “We started that with The Master Chief Collection, and carried that on with Halo Infinite, and we want to do it even more for our next projects. At the end of the day, it’s not just how do we evaluate, it’s how do our players evaluate it?”
343 Industries was founded to create Halo games but the impression I get is that, in its new incarnation as Halo Studios, the studio has been retooled to put the focus entirely on that goal – without distraction, without impediment, to create better games with players’ hopes and wishes at the heart of the endeavor.
“You asked why we consider this as a new chapter,” says Hintze. “We want a singular focus. Everyone is in this place is here to make the best possible Halo games.”
Headline: 4 foundational ways that AI is transforming government
Of the many ways you might measure the potential value of AI on governments, one statistic jumps out. According to Gartner®, 2027 spend on AI software by use case, digital government services, is projected to reach USD41.8 billion in 2027. That tops all other industry sectors, with banking coming in second at USD28.2 billion.1 This represents a significant shift in priorities, as governments recognize the potential of AI to enhance public sector efficiency, transparency, and citizen engagement.
As Microsoft’s global government lead, I am inspired that so many agencies and organizations are not hedging their bets with AI, as was sometimes the case with prior waves (cloud computing and the rise of mobility come to mind). Instead, many governments are taking thoughtful early steps to explore AI and invest in early innovation.
Microsoft for Government
Achieve your mission with Microsoft.
How AI is transforming government IT
At Microsoft for Government, our job is to help governments make the most of their AI investments with best-in-class solutions that are tailored to their unique needs and brought to life through our global network of technology partners. Since the advent of generative AI in late 2022, we have worked closely with a wide array of agencies and organizations to develop targeted use cases designed to improve everything from citizen services to cybersecurity.
This level of innovation is even more impressive considering the unique pressures facing governments. Leaders must deliver results within constrained budgets and limited resources, respond to shifts in societies and workforces, and protect some of the most heavily cyber-attacked data and systems in the world.
Here’s a brief look at four essential areas where AI is helping to empower customers and reshape the impact of government around the world.
1. Delivering personalized experiences
Unproductive interactions with automated call centers and outdated websites are the bane of many constituents’ relationships with their government agencies. Well-intended at the core, too many of these services fail to connect with constituents, recognize their needs, and deliver useful information in a timely way.
Generative AI is revolutionizing these resources with self-service portals and contact centers that provide modern, user-friendly digital experiences. The combination of natural language processing (which enables machines to understand and generate human language), and semantic search (which goes beyond simple keyword matching to comprehend the meaning of a query) makes it possible to readily create chatbots and agents that interact smoothly with people and reason over vast amounts of data to instantly provide solutions.
An amazing example is a chatbot in India called Jugalbandi, built on Microsoft Azure OpenAI Service. Jugalbandi has bridged the nation’s vast linguistic divide by understanding spoken and typed questions, then responding in the user’s local language, all on widely used mobile devices. By covering 10 of India’s 22 official languages and 171 government programs (so far), it makes important information more accessible and reduces cost and friction for constituents and employees alike.
2. Empowering the government workforce
Ensuring that employees can focus on meaningful work is key to government success. In public service, many people are motivated by the opportunity to help others and solve important societal challenges. When subpar technology solutions create inefficiencies and cause unintended problems, productivity and morale suffer.
Government workers, like employees everywhere, welcome services and solutions that reduce friction, keep them connected, and make them more productive. Solutions that use generative AI’s unique predictive analytics and forecasting capabilities can help employees improve their decision-making and overall efficiency.
In the United Arab Emirates, the Dubai Electricity and Water Authority (DEWA) DWEA) built a new Business Requirement Document Generator using Microsoft Azure AI Services that enables employees to enter minimal information and easily generate important documents. Trained on 500 billion parameters, it proactively suggests required information and fills in gaps and other important information. What used to take one week can now be done in one day, including reviews. Complementing the solution, the Authority also boosted productivity by adopting Microsoft 365 Copilot, which is proving invaluable in helping employees to work faster and effectively, notably on research tasks.
3. Modernizing government operations
In many organizations and agencies, the journey to cloud computing has been hindered by important considerations unique to government, including cost, security, and a reliance on legacy systems which are often regarded as so critical that they can’t be modernized, despite being slow, complex, and vulnerable. As cloud and AI solutions become more mature and available, however, the barriers to modernization are dropping, while the price of inaction only rises.
Generative AI’s code generation capabilities (which empower non-developers to readily create AI applications) make it possible to manage critical workloads in the cloud, while gaining new benefits in flexibility, scalability, and resilience across agencies. This can unlock critical data stuck in silos and drive better decision-making for officials who, for example, can make more informed decisions on proposed legislation. Likewise, for citizens, it can turn the process of obtaining a building permit into a productive interaction with a helpful virtual agent, rather than a gauntlet of arcane rules and regulatory snags.
When Gamle Oslo realized that a district manager needed to log into 25 different systems to find relevant data for the city’s kindergarten services, they decided to build a unified data platform using Microsoft Fabric. The solution collects and analyzes all of the district’s data on housing, employment, health care, and public services, which had formerly been disconnected. Unified data with Fabric has improved many processes and opened the door to new benefits and insights, including setting the stage for new AI innovation.
4. Securing data and protecting resources
More than any other industry sector, governments are prime targets for cyberattacks. According to Microsoft’s Digital Defense Report for 2023, 53% of attacks worldwide focused on government organizations and critical infrastructure2. Over the last 18 months, public sector organizations have seen a 150% increase in cyberattacks3 due to the combination of escalating geo-political conflicts and increasing financial motivations.
This dangerous threat landscape urgently requires governments to improve their ability to safeguard critical systems, enhance data protection, and maintain compliance with a host of regulations. Making the challenge even more difficult for governments is the growing demand for skilled cybersecurity staff. Worldwide, there is a shortage of 4 million cybersecurity professionals4, and the problem can be worse for governments, who often struggle to attract and retain talent.
Cloud and AI technology can help level the cybersecurity playing field in a number of important ways. First, the Microsoft Cloud platform provides built-in security and resilience, reflecting our commitment to making security and compliance our top priority. Also, our comprehensive security offerings help an organization craft its own strategy using end-to-end products and tools. And finally, Microsoft Copilot for Security uses generative AI to empower security analysts to rapidly assess an organization’s security posture and create actionable insights and solutions at much greater speed than current approaches.
When the Dominican Republic’s National Cybersecurity Center (CNCS) recognized increases in both frequency and sophistication of cyberattacks, they responded by modernizing the government’s information system and in national critical infrastructure. Their comprehensive approach included adopting a variety of Microsoft solutions to monitor, analyze, manage, and respond to cyber threat cases across the country. The benefits of modern cybersecurity were soon evident, as the event correlation system running on Microsoft Sentinel established relationships between indicators of compromise four times faster than earlier approaches.
See AI in government for yourself
Beyond these transformational benefits, the explosion of AI innovation in government is also advancing the move to modern cloud and data platforms, which is not only essential for enabling AI but also delivers broader benefits in efficiency, productivity, and security.
The insights and examples shared here only just scratch the surface of what our customers are creating and learning. We’re discovering new and amazing things on a daily basis, and we invite you to become engaged.
To see for yourself and learn more:
Attend the Microsoft AI Tour—a free, one-day event with experts, industry leaders, and peers to explore how AI can drive growth and create lasting value. Events are happening worldwide through March 2025.
Visit us at Smart City Expo World Congress in Barcelona, Spain, November 5–7, 2024. I will present on the topic of “Next-Gen Tech Leading the New Urban Era,” and other Microsoft for Government sessions will be presented by Kathleen Mitford, Kirk Arthur, Jeremy Goldberg, Doug Priest, and Hannah Prior.
To discover how the city of Madrid is innovating to become a smarter, more sustainable city, download the new SmartCitiesWorld City Profile. And for a discussion of the new profile, including a new AI-driven virtual assistant, register for a SmartCitiesWorld webinar on October 22, 2024.
Sources:
1Gartner, Compare AI Software Spending in the Government Industry, 2023-2027, By Daniel Snyder, James Ingham, Inna Agamirzian, 27 March 2024. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Didier Ongena leads Microsoft’s Worldwide Public Sector Government team, focused on helping customers realize transformational impact through technology. He and his team help customers address global challenges such as sustainability, mobility, the energy crisis, healthcare, education, and more. They are eager to add value to government agencies worldwide.