NewzIntel.com

Category: Banking

  • MIL-OSI China: China to cut mortgage rates for existing home loans

    Source: China State Council Information Office

    This aerial photo taken on July 4, 2023 shows the construction site of a residential housing project in the start-up area in Xiong’an New Area, north China’s Hebei Province. [Photo/Xinhua]

    China will lower mortgage rates on existing home loans to a level similar to those of newly issued housing loans, Pan Gongsheng, governor of the People’s Bank of China, said on Tuesday.

    The average reduction in mortgage rates for existing home loans is expected to be around 0.5 percentage points, he told a press conference.

    The minimum down payment ratio for both first and second homes will be unified, with the nationwide minimum down payment ratio for second homes to be reduced from 25 percent to 15 percent, Pan said.

    MIL OSI China News –

  • MIL-OSI China: China to cut reserve requirement ratio in near future

    Source: China State Council Information Office

    China will cut the reserve requirement ratio by 0.5 percentage points in the near future, providing about 1 trillion yuan (about 141.78 billion U.S. dollars) in long-term liquidity to the financial market, Pan Gongsheng, governor of the People’s Bank of China, said Tuesday.

    MIL OSI China News –

  • MIL-OSI China: China to cut reserve requirement ratio in near future: central bank governor

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

    BEIJING, Sept. 24 — China will cut the reserve requirement ratio by 0.5 percentage points in the near future, providing about 1 trillion yuan (about 141.78 billion U.S. dollars) in long-term liquidity to the financial market, Pan Gongsheng, governor of the People’s Bank of China, said Tuesday.

    Depending on the liquidity situation in the market, RRR may be further lowered by 0.25 to 0.5 percentage points within the year, Pan told a press conference.

    MIL OSI China News –

  • MIL-OSI Banking: Money Market Operations as on September 23, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 584,136.10 6.69 1.00-6.95
         I. Call Money 9,938.90 6.68 5.10-6.80
         II. Triparty Repo 403,004.70 6.67 6.30-6.77
         III. Market Repo 169,807.50 6.74 1.00-6.90
         IV. Repo in Corporate Bond 1,385.00 6.88 6.85-6.95
    B. Term Segment      
         I. Notice Money** 174.50 6.33 5.85-6.65
         II. Term Money@@ 408.00 – 6.80-7.40
         III. Triparty Repo 482.30 6.66 6.54-6.80
         IV. Market Repo 1,136.97 6.78 6.77-6.85
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Mon, 23/09/2024 1 Tue, 24/09/2024 50,007.00 6.65
         (b) Reverse Repo          
    3. MSF# Mon, 23/09/2024 1 Tue, 24/09/2024 3,320.00 6.75
    4. SDFΔ# Mon, 23/09/2024 1 Tue, 24/09/2024 57,919.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -4,592.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 20/09/2024 14 Fri, 04/10/2024 25,002.00 6.52
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
    Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00
    Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,547.26  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*    

    38,039.26

    		  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     33,447.26  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on September 23, 2024 982,960.08  
         (ii) Average daily cash reserve requirement for the fortnight ending October 04, 2024 1,005,433.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ September 23, 2024 50,007.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 06, 2024 427,689.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad            
     Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1152

    MIL OSI Global Banks –

  • MIL-OSI China: Hungary, China vow to deepen cooperation on green finance

    Source: China State Council Information Office

    Delegates attend a panel discussion during the Budapest Renminbi (RMB) Initiative Conference 2024 in Budapest, Hungary on Sept. 23, 2024. [Photo/Xinhua]

    Hungary and China have agreed to strengthen financial cooperation and promote green finance at the Budapest Renminbi (RMB) Initiative Conference 2024 in Budapest on Monday.

    At the conference, co-hosted by the National Bank of Hungary (MNB) and the Bank of China, Barnabas Virag, deputy governor of MNB highlighted the importance of the initiative in fostering Hungary-China relations and supporting sustainable investments.

    “The Budapest Renminbi Initiative, launched in 2015, has been instrumental in deepening financial and economic ties between China and Hungary,” he said, adding that “this year, our focus is on green finance and the internalization of the RMB, two crucial areas for the future of our economies.”

    Virag spoke highly of China’s strides in developing its green finance market, citing the issuance of green bonds and the financing of environmentally sustainable projects, a trend that Hungary is also embracing.

    He also underscored the role of the Belt and Road Initiative (BRI) in promoting sustainable development. “As the BRI evolves, its potential to promote sustainable future-proof investment is becoming increasingly clear. By aligning BRI projects with green finance principles, we can ensure that economic growth driven by the initiative is both inclusive and responsible,” Virag noted.

    The BRI, which Hungary joined in 2015, has bolstered infrastructure projects and increased trade between the two countries, said Virag at the conference, which is also part of celebrations marking the 75th anniversary of diplomatic relations between the two nations.

    Yang Chao, minister counselor of the Chinese Embassy in Hungary, said the conference is a significant step toward expanding RMB cooperation and promoting green finance.

    “China and Hungary share similar development concepts and policy goals. We hope to expand the breadth and depth of RMB cooperation and elevate financial cooperation to new heights under the Belt and Road framework,” Yang added.

    The first half of 2024 saw robust growth in cross-border RMB settlements between China and Hungary. The Bank of China processed a total of 26.4 billion yuan in settlements through its domestic and Hungarian branches.

    Lin Jingzhen, executive director and vice president of the Bank of China, said that after more than a decade of development, the global influence of the RMB has continued to expand.

    “The Bank of China will continue to improve its green financial products and services, fully supporting Hungary and Central and Eastern European customers in implementing green strategies,” Lin noted.

    Li Kexin, chief executive officer of the Bank of China (Central and Eastern Europe) Ltd., also reaffirmed the bank’s commitment to green finance, saying that the Bank of China helped Hungary issue 1 billion yuan in green sovereign panda bonds in 2021 and 2 billion yuan in 2022.

    This year, the Hungarian branch also issued 500 million U.S. dollars in sustainable development bonds as part of the Belt and Road Initiative, Li said.

    MIL OSI China News –

  • MIL-OSI China: China to create new monetary policy tools to support stock market: official

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

    BEIJING, Sept. 24 — The Chinese central bank will create new monetary policy tools to support the stable development of the stock market, the central bank governor said Tuesday.

    The central bank will establish a swap program for securities, funds and insurance companies to obtain liquidity from the central bank through asset collateralization, Pan Gongsheng, governor of the People’s Bank of China, told a press conference.

    The program will significantly enhance the companies’ ability to acquire funds and increase their stock holdings, Pan said.

    The central bank will also create a special re-lending facility to guide banks to provide loans to listed companies and their major shareholders for buybacks and increasing shareholdings, Pan said.

    MIL OSI China News –

  • MIL-OSI China: China to cut reverse repos rate from 1.7 pct to 1.5 pct

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

    BEIJING, Sept. 24 — Pan Gongsheng, governor of the People’s Bank of China, said Tuesday that the central bank will reduce the interest rate of seven-day reverse repurchases from 1.7 percent to 1.5 percent.

    The reduction was aimed at guiding the loan prime rate (LPR) and deposit rate to move downwards and maintaining stability in the net interest margin of commercial banks, Pan said at a press conference.

    MIL OSI China News –

  • MIL-OSI China: Ethiopia-Djibouti railway launches livestock transportation service

    Source: China State Council Information Office

    The Chinese-built Ethiopia-Djibouti railway on Monday began transporting livestock from central Ethiopia to ports in Djibouti, according to the Ethio-Djibouti Standard Gauge Railway Share Company (EDR).

    Takele Uma, chief executive officer of the EDR, in a statement issued Monday, lauded the move, emphasizing that it will further diversify and maximize the 752-km railway’s transportation services between the two countries.

    He said the newly launched livestock transportation service will enhance the railway’s role in facilitating Ethiopia’s exports to the international market, in addition to its significant contribution to the shipment of imported goods to central Ethiopia through the Red Sea nation of Djibouti.

    “This approach will maximize the use of our open wagons, which were previously used only for imports. It will also boost the exported meat quality by minimizing transport stress on animals, showcasing Ethiopia’s commitment to efficient and sustainable trade,” the EDR chief said.

    Ethiopia, Africa’s second most populous nation after Nigeria with about 120 million people, boasts the largest livestock population in Africa, with an estimated 70.3 million cattle, 95.4 million sheep and goats, and 8.1 million camels, according to recent data from the World Bank.

    In recent years, the East African country has been working to address the major constraints in the livestock sector and enhance its contribution to the country’s economy.

    In May, the Chinese management contractors of the Ethiopia-Djibouti standard gauge railway officially handed over the railway’s management and operation to Ethiopia and Djibouti after six years of successful operation.

    Official data reveal that the railway had transported 680,000 passengers and 9.5 million metric tons of cargo by May 2024, with an average annual transportation revenue increase of 39 percent over the past six years. Since 2018, the railway has developed its freight market and expanded its service offerings, including cold-chain transportation, commuter trains for villagers, and special trains for automobile transport.

    MIL OSI China News –

  • MIL-OSI Banking: Secretary-General of ASEAN delivers opening remarks at the 21st CAEXPO

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today delivered his opening remarks at the 21st China-ASEAN EXPO (CAEXPO), highlighting the importance of RCEP agreement and the efforts to the realization of the ASEAN-China FTA 3.0 as a bedrock of ASEAN-China economic relations. Dr. Kao stressed that digitalization and sustainability are key megatrends reshaping how businesses operate and how society lives in an increasingly interconnected world. 

    Download the full opening remarks here.

    The post Secretary-General of ASEAN delivers opening remarks at the 21st CAEXPO appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Economics: RBI to conduct 2-day Variable Rate Repo (VRR) auction under LAF on September 24, 2024

    Source: Reserve Bank of India

    On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on September 24, 2024, Tuesday, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor
    (day)    		 Window Timing Date of Reversal
    1 50,000 2 10:45 AM to 11:15 AM September 26, 2024
    (Thursday)

    2. The operational guidelines for the auction will be same as given in Reserve Bank’s Press Release 2021-2022/1572 dated January 20, 2022.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1153

    MIL OSI Economics –

  • MIL-OSI USA: Reps. Carson, Jayapal, Schakowsky Introduce UNRWA Funding Bill

    Source: United States House of Representatives – Congressman Andre Carson (7th District of INDIANA)

    WASHINGTON, DC—Representative André Carson (IN-07) has introduced H.R. 9649, the UNRWA Funding Emergency Restoration Act of 2024 with Rep. Pramila Jayapal (WA-07) and Rep. Jan Schakowsky (IL-09). This bill will end the congressionally and administratively mandated pause on funding for the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNWRA).

    The United States has historically been one of the largest financial supporters of UNRWA, which serves nearly 6 million Palestinian refugees across the West Bank, East Jerusalem, Syria, Jordan, and Lebanon. In March of this year, the U.S. paused UNRWA funding after the Israeli government alleged that 12 agency employees had direct involvement in Hamas’ October 7 terrorist attack.

    Following the UN’s investigation and proactive commitments made by UNRWA toward complete accountability and reform, all countries except the U.S. have resumed their UNRWA funding, including the European Union, United Kingdom, Canada, Australia, Finland, Germany, Japan, and Sweden.  Approximately 1.9 million people – 9 in 10 Gazans – have been displaced at least once, and an estimated 43,580 are pregnant women. UNRWA has served as the primary humanitarian aid organization operating in Gaza, and without funding, hundreds of thousands of Gaza civilians are left vulnerable. It is estimated that over 1 million Gazans will not have enough food this month, and availability of basic hygiene items has dropped to 15%. In addition to a polio outbreak, Gazans are suffering from malnutrition and treatable diseases due to “systematic dismantling of healthcare”from bombardments on civilians.

    “The scale of this devastating, man-made crisis in Gaza cannot be overstated,” said Congressman Carson. “Providing humanitarian aid to a starving nation – with funding Congress has appropriated year after year – should not be controversial. I urge my colleagues who care about basic human rights, the rights of pregnant women, and the wellbeing of innocent children to join our bill. UNRWA has taken appropriate and proactive steps towards accountability and transparency, conducting multiple independent reviews that continue to prove the organization is both in compliance and imperative to provide the region with lifesaving assistance.  It’s past time we restore funding and save lives.”

    “UNRWA has played a unique and integral role in supporting the welfare of Palestinian refugees for decades. Their on-the-ground understanding is invaluable to ensure that humanitarian aid makes it to the people who need it most — in the West Bank, East Jerusalem, Syria, Jordan, Lebanon, and critically in this moment in Gaza,” said Congresswoman Jayapal. “There is no question in my mind that revoking funding for UNRWA will lead to more devastation and loss of life in Gaza. We must ensure that those acting in good faith to save civilian lives are not undermined by a lack of US funding.”

    “For decades, the United Nations Relief and Works Agency (UNRWA) has been a lifeline for Palestinians, providing food, clean water, healthcare, shelter, education, and livelihoods. Today, UNRWA remains the backbone of the humanitarian response in Gaza as it endures ongoing war and a dire humanitarian crisis. UNRWA and the United Nations have taken swift and decisive actions to address the concerns raised by the U.S. government when it paused funding in January and our allies have all resumed funding for UNRWA. The U.S. must follow suit and resume funding for this critical humanitarian agency,” said Congresswoman Schakowsky. “I am proud to co-lead the UNRWA Funding Emergency Restoration Act to restore funding to UNRWA and help Gazans get the humanitarian assistance they need at a time of unprecedented crisis.”

    “J Street is proud to be supporting the UNRWA Emergency Restoration Act of 2024 introduced by Representatives Carson, Jayapal, and Schakowsky. We should restore funding, as all our major allies have, and stop playing politics with Palestinian welfare and Israel’s security,” said J Street President Jeremy Ben-Ami. “As UNRWA’s largest donor and Israel’s key security guarantor, the United States has a special obligation to address this crisis.”

    “Gaza isn’t starving. It’s being starved,” said Hassan El-Tayyab, legislative director for Middle East policy at the Friends Committee on National Legislation. “Over two million Palestinian civilians are enduring a man-made humanitarian catastrophe, with famine and disease spreading due to blocked aid access. Meanwhile, the Biden administration and Congress continue to withhold all U.S. funding for the largest aid operation in Gaza—the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). UNRWA is the backbone of aid delivery in Gaza, ensuring that millions receive desperately needed assistance. Blocking U.S. funding for UNRWA’s critical work is a cruel and unjustified decision that only deepens Gaza’s humanitarian suffering. Congress and the Administration must act swiftly to correct this wrong by supporting the UNRWA Funding Emergency Restoration Act and restoring this urgently needed aid.”

    “Restoring funding to UNRWA is a humanitarian imperative,” said Sharif Aly, President of the International Refugee Assistance Project (IRAP). “For over six decades, the United States has been one of the strongest supporters of UNRWA, which provides lifesaving aid and social services to millions of Palestinian refugees across the Middle East. Those services are desperately needed in Gaza right now, and UNRWA is the only organization with the capacity and expertise necessary to provide them at scale. The United States must uphold its commitment to the human rights of the Palestinian people and pass this legislation to reinstate funding to the humanitarian agency immediately. Failing to do so would lead to further human suffering.”

    “In restoring funding for food, water, shelter, and medical care for Palestine refugees, the UNRWA Restoration Act honors this most basic and inalienable truth — that the people of Palestine are human beings, just like all of us, and all lives are sacred, not just some,” said Mara Kronenfeld, Executive Director UNRWA USA.

    “UNRWA is indispensable to providing Palestinians in Gaza, the West Bank, Lebanon, Jordan, and Syria with the education, healthcare, and other critical services that are key to successful, productive livelihoods and citizenry, and a future of peace and prosperity, which should be in everyone’s interests. We support full restoration of funding to UNRWA,” said Sean Carroll, President and CEO of Anera.

    “We express our gratitude to Representatives André Carson, Pramila Jayapal, and Jan Schakowsky for introducing the UNRWA Emergency Restoration Act of 2024,” said James Zogby, President of the Arab American Institute. “This lifesaving legislation aims to restore critical U.S. financial support to the United Nations Relief and Works Agency (UNRWA) by repealing previous funding restrictions and encouraging the Secretary of State to lift the temporary pause on federal funding. UNRWA plays a vital role in providing essential services to millions of Palestinian refugees across the Occupied Palestinian Territory, Lebanon, Jordan, and Syria. The ongoing genocide in Gaza has resulted in increased displacement, starvation, and death. It is both inhumane and unconscionable to continue withholding financial support from UNRWA. We recognize that the majority of Americans are horrified by the death and destruction they witness daily in Gaza and the West Bank. UNRWA’s humanitarian aid and services often mean the difference between life and death for these vulnerable populations. Restoring U.S. funding to UNRWA is urgent, just, and the only morally responsible option. We urge lawmakers to prioritize the passage of this crucial legislation and ensure that UNRWA can continue to provide life-saving assistance to Palestinian refugees in the region.”

    The UNRWA Funding Emergency Restoration Act of 2024 has been endorsed by the following organizations as of 9/19/24: 

    18 Million Rising
    Action Against Hunger
    Action Corps
    ActionAid USA
    AFSC, American Friends Service Committee
    American Baptist Churches USA
    American Friends of Combatants for Peace
    American Friends Service Committee
    American-Arab Anti-Discrimination Committee (ADC)
    Americans for Justice in Palestine Action
    Americans for Peace Now
    Anera
    Avaaz
    Cairo Institute for Human Rights Studies (CIHRS)
    Carolina Peace Center
    Center for American Progress
    Center for Civilians in Conflict (CIVIC)
    Center for Constitutional Rights
    Center for Gender & Refugee Studies
    Center for International Policy
    Center for Jewish Nonviolence
    Center for Security, Race and Rights
    Center for Victims of Torture
    Charity&Security Network
    Christian Aid
    Church World Service
    Climate Refugees
    Coalition for Humane Immigrant Rights (CHIRLA)
    CODEPINK
    CommonDefense.us
    Congregation of Our Lady of Charity of the Good Shepherd, U.S. Provinces
    Council on American-Islamic Relations (CAIR)
    Danish Refugee Council
    DAWN
    Demand Progress
    Doctors Against Genocide
    Emgage Action
    FCNL
    Foreign Policy for America
    Friends of Sabeel North America
    Global Ministries of the Christian Church (Disciples of Christ) and United Church of Christ
    Health Advocacy International
    Hindus for Human Rights
    Historians for Peace and Democrcy
    Human Rights First
    Human Rights First
    Humanity & Inclusion
    IfNotNow Movement
    International Civil Society Action Network (ICAN)
    International Refugee Assistance Project (IRAP)
    International Rescue Committee
    Israel/Palestine Mission Network of the Presbyterian Church (U.S.A.)
    J Street
    Jewish Voice for Peace Action
    KinderUSA
    MADRE
    Maryknoll Office for Global Concerns
    Middle East Children’s Alliance
    Middle East Democracy Center (MEDC)
    Migrant Roots Media
    MoveOn
    MPower Change Action Fund
    Muslim Advocates
    National Advocacy Center of the Sisters of the Good Shepherd
    National Council of Churches
    National Iranian American Council Action
    National Partnership for New Americans
    Nonviolent Peaceforce
    Norwegian Peoples aid
    Norwegian Refugee Council USA
    Oxfam
    Partners for Progressive Israel
    Pax Christi USA
    Peace Action
    People’s Action
    Presbyterian Church (USA), Office of Public Witness
    Progressive Democrats of America
    Project HOPE
    Project South
    Quincy Institute for Responsible Statecraft
    Rebuilding Alliance
    Refugee Congress
    Refugees International
    ReThinking Foreign Policy
    RootsAction.org
    Save the Children US
    Save the Children US
    Sisters of Mercy of the Americas – Justice Team
    Terre des hommes – Lausanne
    The Episcopal Church
    The Tahrir Institute for Middle East Policy (TIMEP)
    The United Church of Christ
    UNRWA USA National Committee
    US Campaign for Palestinian Rights Action (USCPR Action)
    Veterans For Peace, Chapter #63 (Albuquerque)
    War Child Alliance
    We Are All America (WAAA)
    Welcoming America
    Win Without War
    Women’s International League for Peace and Freedom, US
    Working Families Party
    Yemen Relief and Reconstruction Foundation
    ACCESS of WNY
    Al Otro Lado (CA and Tijuana)
    Atlanta Multifaith Coalition for Palestine
    CAIR-Ohio
    Christian Jewish Allies for a Just Peace in Israel/Palestine
    Church Women United in New York State
    Council on American-Islamic Relations, New York chapter (CAIR-NY)
    Dorothy Day Catholic Worker, Washington DC
    Jewish Voice for Peace Albuquerque
    Minnesota Peace Project
    Muslim Justice League (MA)
    New York Progressive Action Network
    Oasis Legal Services (CA)
    OnceAForest.org (NM)
    Peace Action WI
    Peace, Justice, Sustainability NOW!
    Showing Up For Racial Justice (SURJ) Bay Area
    Veterans For Peace – Santa Fe NM Chapter
    Muslims United PAC (MUPAC)

    MIL OSI USA News –

  • MIL-OSI Russia: Bank “ROSSIYA” entered the top 15 most reliable domestic banks

    MIL OSI Translation. Region: Russian Federation –

    Source: Bank “RUSSIA” Russia Bank –

    Press Releases and Events

    09.24.2024

    Bank “ROSSIYA” entered the top 15 most reliable domestic banks

    Bank “ROSSIYA” was included in the rating of reliability of domestic banks, compiled by the analytical department of the financial service Bankiros.ru.

    Reliability rating is formed on the basis of the performance indicators of banks collected by the Central Bank of the Russian Federation. The calculation method is based on data on assets, deposits, loans, and also taking into account liquidity and long-term creditworthiness indicators.

    As analysts note, the rating includes the most reliable financial institutions that meet all the conditions to ensure the safety of clients.

    Back to list

    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.

    http://abr.ru/about/nevs/13664/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

  • MIL-OSI China: Announcement on Open Market Operations No.190 [2024]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.190 [2024]

    (Open Market Operations Office, September 24, 2024)

    In order to keep liquidity adequate at a reasonable level in the banking system at quarter-end, the People’s Bank of China conducted reverse repo operations in the amount of RMB460 billion through quantity bidding at a fixed interest rate on September 24, 2024.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    14 days

    RMB460 billion

    1.85%

    Date of last update Nov. 29 2018

    2024年09月24日

    MIL OSI China News –

  • MIL-OSI: Share buybacks in Spar Nord Bank – transactions in week 38

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 59
     

    In company announcement no. 10 2024, Spar Nord announced a share buyback programme of up to DKK 500 million. The share buyback was initiated on 12 February 2024.

    The purpose of the share buyback is to reduce the bank’s share capital by the shares acquired under the programme, and the programme is executed pursuant to Regulation (EU) No 596/2014 of 16 April 2014 (“Market Abuse Regulation”).

    In last week the following transactions were made under the share buyback programme.

      Number of shares Average purchase price (DKK) Transaction value (DKK)
    Accumulated from last announcement 2,317,797    290,270,700
    16 September 2024 14,800 128,54 1,902,392
    17 September 2024 14,800 128,74 1,905,352
    18 September 2024 14,800 128,86 1,907,128
    19 September 2024 14,400 129,79 1,868,976
    20 September 2024 14,700 129,11 1,897,917
    Total week 38 73,500    9,481,765
    Total accumulated 2,391,297   299,752, 465

    Following the above transactions. Spar Nord holds a total of 2,448,816 treasury shares equal to 2.08 % of the Bank’s share capital.

    Please direct any questions regarding this release to Rune Brandt Børglum, Head of Investor Relations on tel. + 45 96 34 42 36.

    Rune Brandt Børglum
    Head of Investor Relation

    Attachment

    The MIL Network –

  • MIL-OSI Banking: Result of the 2-day Variable Rate Repo (VRR) auction held on September 24, 2024

    Source: Reserve Bank of India

    Tenor 2-day
    Notified Amount (in ₹ crore) 50,000
    Total amount of bids received (in ₹ crore) 91,035
    Amount allotted (in ₹ crore) 50,003
    Cut off Rate (%) 6.62
    Weighted Average Rate (%) 6.64
    Partial Allotment Percentage of bids received at cut off rate (%) 89.83

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1154

    MIL OSI Global Banks –

  • MIL-OSI Australia: Interview with Adam Steer, ABC Radio Darwin

    Source: Australian Treasurer

    ADAM STEER:

    Stephen Jones is the Assistant federal Treasurer and Minister for Financial Services. Minister, welcome to ABC Radio Darwin. These new laws, how are they going to work in terms of preventing scams? Because my understanding is you can’t force the banks to pay back anyone that’s been scammed, can you?

    STEPHEN JONES:

    Not quite true. Under the existing laws, we have a mandatory reimbursement scheme. If somebody has had money withdrawn from their account that wasn’t authorised and that’s done under the ePayments code. The problem we have is there’s so much grey area and the scams are becoming so incredibly sophisticated. They’ve been industrialised over the last decade; scam losses were doubling every year. They haven’t for the last year because of some corrective measures we’ve put in place. But it’s quite clear we just can’t leave the customers on their own –

    STEER:

    Yeah, well, that example –

    JONES:

    More needs to be done.

    STEER:

    That example I was using with Antonia there. So, the bank originally had said no because she had voluntarily handed her information over to the scammers who had provided – she’d looked up the banks themselves and they had provided her the information which she thought, as someone with English as a second language was okay enough that then she could give them the details, her banking details.

    JONES:

    In circumstances like that I mean, then it’s no answer to say banks never ask you to give over your passcodes. They never do that. In fact, they make it quite clear you shouldn’t give them over to anyone. But, you know, for all the reasons you’ve outlined, it’s quite clear that the existing arrangements and obligations aren’t strong enough. So, the laws that we’ll put in place look at the entire economy or the ecosystem in which these scams are operating in. So, they come to us via a phone or an SMS message, or they’re published on a social media platform, and the bank is the destination for the scammers at the end of the transaction. So, we’ve got to get all of those bodies lifting their protection again for their customers to keep their business and network safe, to prevent, to detect, disrupt, respond and report to scams. A failure to put in place the proper steps in this area will lead to fines of up to $50 million for the businesses who fail to do that. The reason we’re starting with banks, telcos and social media platforms is that’s where most of the damage is being done. But we’ll move beyond there once we get that locked down.

    STEER:

    Banks make, I think they made $32 billion worth of profit at the big 4 last year, but only repay between 4–7 per cent of scam victims. That doesn’t seem fair in itself. What exactly are you doing to ensure banks are helping their customers? So, you were saying, unless you do this, we will fine you $50 million for each individual scam? Am I correct that you’re –

    JONES:

    That’s correct, yeah, absolutely. And I want banks to be on the hook if they’ve done the wrong thing. But I don’t want telecommunications companies or social media platforms to be let off the hook as well. I’ve looked at some data up in Europe at the moment, about half the scam losses at the moment are coming from Meta platforms. That’s not a startup business. In Australia, it makes about $6 billion a year. So, that’s a large entity as well. It’s making more than most of our banks, actually. They need to be in the frame. Telcos need to be in the frame. Banks need to be in the frame if they’ve done the wrong thing. And stronger obligations, stronger obligations to protect customers must be in place. And like we’ve been discussing, fines if they, penalties in compensation if they don’t live up to those obligations.

    STEER:

    Six to 8 on 157, ABC Radio Darwin. Adam Steer is my name. Your guest is the federal Assistant Treasurer, Minister for Financial Services, Stephen Jones. A text coming in, Minister, why don’t we ever hear on news scammers getting caught or convicted? Is this because they’re not getting caught?

    JONES:

    Yeah, great question. When we put our policy together, we assumed that the vast majority of this stuff is operating outside of Australia, because it is, and largely in countries where traditional law enforcement can’t work because we don’t have the sorts of relations you need with the countries where they’re operating. In some we’ve got joint operations going in place, but often on the border of war torn countries or in areas where traditional law enforcement can’t get into. So, the traditional law enforcement approach of kicking down doors and dragging people before a court just won’t work. So, we’ve got to look at what will work with what we can do inside Australia.

    STEER:

    Well, let’s move to one of the other issues. I don’t know whether the 2 supermarkets, the 2 major supermarkets, are going to get painted as the villains of inflation, but the ACCC is alleging Woolies and Coles are now breaching consumer laws, rising prices by 15 per cent prior to some of their big promotional scale – sales. I mean, that’s a scam in itself. How the supermarkets going to get punished here?

    JONES:

    Well, strong action being taken by our regulator with the full support of the government. I have got to be careful because this matter is before the court. But if these matters are proved – and I have every reason to believe that the ACCC will have done due diligence before they took the matter before court – if these matters are proved, then it is an indictment on those businesses and they deserve the full force of the law. In instances where Australians are struggling and they’re ripping us off with bodgy sales and bodgy advertisements, jacking prices up before they drop them, that’s just not right.

    STEER:

    And inflationary as we wait to see whether the mortgage rates stay on hold or not for this year. I’ve got a text asking the ACCC themselves have said, good move from the federal government because they reinforced some laws which have allowed us to take this action. And as you say, it is above the courts – in front of the courts at the moment. If it’s successful and if it’s a very, very large fine which we consider it would have to be given the supermarkets are making $1000 million profit per year each. Where does that money go if they get a significant fine? What happens to that money?

    JONES:

    Yeah, good question. So, in this instance, the ACCC has sought unusual but not exceptional orders where a part of the fine would be diverted towards paying for meals and services to homelessness and low income people as a means of ensuring that some of that money goes towards the people who are hurt most by this sort of alleged pernicious behaviour.

    STEER:

    You know what? We’ll wait and see what happens. Federal Assistant Treasurer Stephen Jones, thank you so much for your time this morning. Appreciate it.

    JONES:

    Great to talk.

    MIL OSI News –

  • MIL-OSI Banking: Development Asia: Boosting Regional Integration with Enhanced Multimodal Transport Links

    Source: Asia Development Bank

    Road Corridors

    Roads are the primary transport infrastructure in most SAARC member states, serving as the main means of domestic connectivity and the key conduit for intra-SAARC trade, either across land borders or via seaports. In recent years, the importance of road transport has grown across all SAARC countries.

    The original SMRTS included ten SAARC road corridors, linking: (i) Pakistan, India, and Bangladesh (two); (ii) Nepal and India (two); (iii) Bhutan and India (one); (iv) Nepal, India, and Bangladesh (one); (v) Bhutan, India, and Bangladesh (one); (vi) India and Bangladesh (two); and (vii) Nepal, India, and Pakistan (one). The updated SMRTS highlights recent physical and nonphysical progress in corridor development.

    Physical progress includes the 6.15-km Padma Bridge, upgrades to the Sarail-Akhaura link and Elenga-Hatikamrul-Rangpur Highway, and four-laning of the Dhaka-Sylhet Highway and Sylhet-Tamabil Road in Bangladesh; the planned Haldia/Howrah-Raxual Expressway in India; Nepal’s Kathmandu-Terai Madhesh Fast Track Project; and Pakistan’s Khyber Pass Economic Corridor and six-lane motorways connecting Karachi to Peshawar. Nonphysical progress includes motor vehicle agreements facilitating cross-border transport.

    Rail Corridors

    Railways have the potential to become a key transport mode in the SAARC region, especially for intraregional movement of goods and passengers between Bangladesh, India, Nepal, and Pakistan. The region’s railway network is mainly broad-gauge and compatible across member states, except for the meter-gauge network east of Dhaka, Bangladesh. Once the SAARC rail corridors are fully developed and nonphysical barriers are addressed, efficient rail connectivity will link the concerned SAARC countries.

    The original SMRTS included five SAARC railway corridors, connecting Bangladesh, India, Nepal, Sri Lanka, and Pakistan. Recent progress includes several railway projects in Bangladesh (e.g., the Padma Bridge Rail Link, dual-gauge line between Akhaura and Laksam), new rail links in Bhutan and Nepal, and the planned Uzbekistan-Pakistan-Afghanistan Railway.

    Inland Waterway Corridors

    Among SAARC countries, only Bangladesh and India have organized inland waterways, facilitating freight transit between the two nations. In earlier SMRTS stages, two inland waterway corridors of regional importance were identified based on current and potential future traffic. These corridors also offer direct waterway links for Northeast India to the ports of Kolkata and Haldia. Landlocked Bhutan and Nepal could benefit from multimodal and intermodal connections to these waterways, providing access to the sea.

    A recent development is the consolidation of the Eastern Waterways Grid, linking rivers in Bangladesh and India with roads and rail to improve connectivity. The Grid builds on the Indo-Bangladesh Protocol Routes, enhancing trade and transit between the two countries. It promises significant cost savings for bulk goods transport in India and revenue generation for Bangladesh through port fees and cargo services, with potential benefits for Bhutan and Nepal.

    Maritime Gateways

    The previous SMRTS versions identified ten major maritime gateways based on current traffic volume, potential to handle future intraregional container traffic, and access for landlocked countries to seaports.

    The updated SMRTS highlights recent progress in the maritime sector. Bangladesh is developing two new gateways: Payra, now operational, and Matarbari, under construction and expected to become the country’s first deep-sea port. Chattogram Port has undergone significant expansion, with a framework for its sustainable development as a transshipment hub for Northeast India. India’s Visakhapatnam (Vizag) Port, the largest on the Eastern Coast, has increasingly served Nepali transit traffic. Other notable developments include a planned new port at Thilafushi in Maldives, a major port concession in Karachi, Pakistan, and continued expansion of Colombo Port, Sri Lanka. Additionally, ferry services between India and Sri Lanka have been proposed.

    Aviation Gateways

    The original SMRTS identified 16 SAARC aviation gateways and noted the need to increase this number by 2030 by upgrading domestic airports to regional hubs and regional airports to international ones. It also acknowledged the complexity of identifying aviation hubs within the SAARC region, which goes beyond the scope of the SMRTS.

    Based on recent developments discussed at a February 2024 workshop in Kathmandu, additional aviation gateways were included in the updated SMRTS. These are in Bangladesh (Chattogram, Sylhet, Cox’s Bazar, Saidpur), Bhutan (Gelephu), Maldives (Gan), Nepal (Gautam Buddha, Pokhara), Pakistan (Islamabad), and Sri Lanka (Mattala Rapsaka, Jaffna, Batticaloa).

    Between 2020-2024, the aviation sector faced challenges due to the COVID-19 pandemic, which lowered passenger and freight demand. As the sector recovers, the challenge is to rebuild and reshape it, redesigning terminals to meet new requirements and implementing measures to address environmental concerns, including decarbonization.

    Connectivity between South Asia and Central Asia

    Recent developments in transport connectivity between South Asia and Central Asia include United Nations General Assembly Resolution 76/299 on strengthening regional connectivity, the Khyber Pass Economic Corridor, the Uzbekistan-Pakistan-Afghanistan Railway Project, the International North-South Transport Corridor (a 7,200-km multimodal route linking India, Iran, Azerbaijan, and Russia), and the Delhi Declaration from the 1st India-Central Asian Summit in January 2022.

    Air connectivity between South Asia and Central Asia remains limited, despite Central Asia’s landlocked nature and challenging geography. Air transport is crucial for moving perishable and high-value goods and facilitating business travel and tourism.

    MIL OSI Global Banks –

  • MIL-OSI: Fibabanka launches Türkiye’s first BaaS platform in partnership with GetirFinans

    Source: GlobeNewswire (MIL-OSI)

    ISTANBUL, Sept. 24, 2024 (GLOBE NEWSWIRE) — Fibabanka, a leading player in Türkiye’s banking sector, has launched the country’s first Banking as a Service (BaaS) model through an innovative collaboration with GetirFinans, which received a total of $70 million in investment last year at a valuation of $250 million. This partnership, a significant step in Fibabanka’s broader strategy to expand its BaaS platform, provides non-banking businesses with the infrastructure to offer tailored financial services to their customers efficiently.

    The BaaS model, enabled by Fibabanka’s advanced technology, marks a new era in financial services, making it easier for businesses across industries to integrate financial solutions into their own platforms. Fibabanka is one of the few global institutions to implement this model, positioning itself as a key innovator in the Turkish market.

    A new era for financial services integration

    The partnership with GetirFinans is the first use case for Fibabanka’s BaaS model. Through the GetirFinans, integrated within the Getir, application, users can now access a range of banking services, including account management, card issuance, and payment options, directly from the app. By leveraging Fibabanka’s digital infrastructure, GetirFinans is able to offer these services without needing a banking license, while maintaining focus on its core operations.

    With more than 500 APIs powering its platform, Fibabanka’s BaaS solution enables businesses to seamlessly incorporate financial services into their operations, opening the door to cost-effective and streamlined service delivery. Non-bank organizations, from large retailers to fintech startups, can use Fibabanka’s BaaS platform to meet rising customer expectations for integrated, convenient financial solutions.

    Ömer Mert, General Manager and Member of the Board of Directors at Fibabanka, emphasized the transformative nature of this model: “As consumer expectations around financial services evolve, businesses are seeking ways to offer seamless and integrated experiences through their own platforms. Our Banking as a Service model responds directly to these demands by enabling businesses outside the banking sector to access financial infrastructure easily. The GetirFinans collaboration is just the first step, and we look forward to expanding our platform further to meet the needs of various industries and countries.”

    Expanding the reach of financial services

    Fibabanka’s BaaS model is designed to drive financial inclusion by making banking services more accessible to a wider audience. By working with partners like GetirFinans, the bank is extending its reach beyond traditional banking channels, offering innovative solutions that cater to the changing needs of consumers and businesses alike.

    Fibabanka’s BaaS platform also provides significant operational benefits to partner organizations, reducing the costs and complexity typically associated with offering financial services. By managing the backend processes that require a banking license, Fibabanka enables businesses to focus on growth and customer experience.

    A broader vision for the future

    Fibabanka’s launch of the Banking as a Service model is just the beginning of its journey. The bank has positioned itself as a leader in digital banking solutions in Türkiye and plans to expand its BaaS offerings across more industries in the near future. With its technology-driven approach and commitment to innovation, Fibabanka aims to set new standards in the financial services industry, providing solutions that benefit both businesses and their customers.

    “We are proud to be at the forefront of this shift in the banking landscape,” Mert added. “As the destination for BaaS in Türkiye, Fibabanka will continue to build on this model, offering new collaborations that meet the needs of our partners and their customers. Our mission is to redefine the boundaries of digital banking through innovation, and this is just the first of many milestones we intend to achieve.”

    About Fibabanka:

    Since its establishment in 2010, Fibabanka has been a part of the Fiba Group, positioning itself as a forward-thinking technology company offering banking services for the future. Through its investments in digital infrastructure and innovation, Fibabanka continues to transform conventional banking into an end-to-end digital experience, delivering fast, easy, and accessible solutions to its customers.

    About GetirFinans:

    Founded in partnership with Getir, GetirFinans is a technology company that achieved a valuation of $250 million while still in its establishment phase, having raised a total of $70 million in investments last year. GetirFinans will offer users a fast and advantageous banking experience as an interface provider for the service banking services provided by Fibabanka, in accordance with the Regulation on the Principles of Operation of Digital Banks and Service Model Banking, which came into effect on January 1, 2022.

    The MIL Network –

  • MIL-OSI United Nations: IOM, CAF Partner to Boost Sustainable and Inclusive Development in Latin America and the Caribbean

    Source: International Organization for Migration (IOM)

    New York, 23 September – The International Organization for Migration (IOM) and CAF – Development Bank of Latin America and the Caribbean have today signed a technical cooperation agreement to address migration challenges in the region while tapping into the potential of migrants to drive sustainable and inclusive development.  

    “This agreement underscores a fundamental truth: migrants are agents of change and development,” said Amy Pope, IOM Director General. “Migrants bring skills, innovation, and unique perspectives that are essential for building resilient economies and vibrant communities. Collaborating with development finance institutions like CAF helps unlock the immense potential of migration to enrich societies around the world.”  

    Signed during the 79th session of the UN General Assembly, this landmark initiative focuses on key aspects of migration management and its developmental impact. It aims to enhance local governments’ migration management capabilities, strengthen climate mobility policies and tools, analyze and disseminate information on migration’s economic impact in Latin America and the Caribbean, and foster dialogue on migrants’ economic integration.  

    “This strategic alliance between CAF and IOM marks a significant step towards understanding and leveraging migration as a catalyst for development in our region,” said Sergio Díaz-Granados, CAF’s Executive President. “We are committed to working alongside local governments, civil society organizations, and the private sector to build comprehensive solutions that benefit both migrants and their communities of origin and destination.”  

    This multidimensional and cross-cutting collaboration will enable a comprehensive approach to migration in Latin America and the Caribbean, enhancing the scope of the IOM-CAF partnership to promote sustainable and inclusive development in the region. This technical cooperation builds on a Memorandum of Understanding signed in May 2023 and aligns with the Sustainable Development Goals, the 2030 Agenda, and the Global Compact for Safe, Orderly and Regular Migration. 

    ***

    For more information, please contact:  

    Panama: Jorge Gallo, jgallo@iom.int 

    New York: Rahma Soliman, rsoliman@iom.int 

    Geneva: Daniela Rovina, drovina@iom.int 

    MIL OSI United Nations News –

  • MIL-OSI Europe: Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050

    Source: Government of Sweden

    Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050 – Government.se

    Please enable javascript in your browser

    Press release from Ministry of Climate and Enterprise

    Published

    Yesterday, 23 September, Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch took part in a meeting between ministers and other high representatives of countries that backed a COP28 declaration on the need to triple production of nuclear energy by 2050. In conjunction with the meeting, global banks and financial institutions backed the countries’ ambition to increase production of electricity from nuclear energy.

    During the meeting, discussions touched on how to proceed from the declaration and how the countries could jointly realise this collaboration. Representatives of global banks and financial institutions took part in discussions on how to finance large-scale expansion. 

    “One of the greatest obstacles to the necessary expansion of nuclear energy is to secure financing. Governments, financial institutions and industry have critical roles to play in this endeavour. I am delighted by this decision, which attests to the shared view of nuclear energy’s importance among both governments and the financial sector,” says Ms Busch. 

    Countries that support the declaration

    Sweden, Armenia, Bulgaria, Canada, Croatia, Czechia, Finland, France, Ghana, Hungary, Jamaica, Japan, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, Slovakia, Slovenia, South Korea, Ukraine, the United Arab Emirates, the United Kingdom and the United States.

    Background

    Interest for new nuclear energy is growing rapidly in many countries, including here in the EU. This applies both to countries that already have nuclear energy and those who had previously held a neutral or sceptical view of the technology. More and more countries are realising that everyone needs to secure fossil-free energy – both renewable and nuclear – to succeed in the green transition, strengthen competitiveness and achieve the climate goals. Major energy price increases following Russia’s invasion of Ukraine have also illustrated the importance of democratic countries not being reliant on dictatorships.

    Press contact

    MIL OSI Europe News –

  • MIL-Evening Report: No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming

    Source: The Conversation (Au and NZ) – By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

    Who’d want to be Reserve Bank Governor Michele Bullock? On Tuesday she had to do the almost impossible: defend a decision not to cut interest rates at a time when they were being cut in just about every other major industrial nation.

    On Thursday the US Federal Reserve joined the Bank of England, the Bank of Canada, the Reserve Bank of New Zealand and central banks in China, Sweden and the European Union in what its officials expect to be a series of cuts, kicking off with a double-header: a cut of 0.50 percentage points instead of the usual 0.25.

    In her press conference after Tuesday’s board meeting Governor Bullock said disinflation was “further advanced” in those countries than it was in Australia.

    Australian interest rates were “restrictive” (high enough to hurt) but were working “broadly as anticipated”.

    While household spending was weaker than had been expected, it would be

    some time yet before inflation is sustainably in the target range.

    But the problem with what she said, both after the meeting and in her statement, is inflation is probably already within the target range.

    Credibility gap

    The Reserve Bank’s target is 2-3%. Inflation hasn’t been there since it surged in 2021 as much of the world came out of lockdowns.

    On Wednesday, the day after Bullock’s announcement, the Bureau of Statistics will release the monthly consumer price index for August. It’s expected to be the first to show inflation back between 2% and 3%.

    Westpac is expecting an annual rate of 2.7%, comfortably back within the target band. When the more-comprehensive quarterly measure is released next month, Westpac is expecting 2.9%.

    If inflation is 2.7%, how can it be too high?

    Bullock squares her view that inflation is not yet moving sustainably towards the target with the reality that it is probably already there by saying she expects it to “pop back up again” when the temporary effect of electricity bill rebates wears off.

    The Commonwealth government announced $3.5 billion worth of rebates in the May budget. They will be applied automatically to electricity bills for each of the next four quarters, and topped by several of the states. In Queensland, they amount to $1,300 per household.

    A staged rollout means the rebates hit bills in only Queensland and West Australia in July and will hit other states in August. The Bureau of Statistics says they took 6.4% off the average national power price in July and Westpac expects them to take off a further 15% in August.

    A permanent 10% increase in the maximum rate of Commonwealth rent assistance delivered last week will put further downward pressure on inflation.

    It’s easy to see why Bullock thinks the temporary measures should be disregarded.

    The RBA says what matters is underlying inflation

    Bullock is directing attention to the Reserve Bank’s preferred measure of underlying inflation, a measure that excludes sharp movements and gives a better idea of where typical prices are heading.

    At 3.9% for the year to the June quarter, she says that measure is still too high. But it has been falling for each of the past six quarters and is on track to fall to 3.5% in the September quarter. By my way of thinking, that shows inflation is moving “sustainably towards the target range” in the way she says she wants.

    As in the US and the UK and New Zealand and all the other countries with which we compare ourselves, inflation doesn’t need to be actually back to the target before the authorities ease off on high interest rates. If they waited that long they would overshoot and push inflation too low.

    But headline inflation matters in its own right

    In any event, a low headline inflation rate is important in its own right, however it is achieved. It’s the rate the Reserve Bank prints at the top of its website, the rate that’s published in the media and the rate that people experience.

    If inflation is actually low, however that is brought about, shoppers become less tolerant of price rises (something the Reserve Bank says is happening) and less keen to demand high wage rises (something that is also happening).

    They also become less keen to rush out and buy things before their price goes up, something that can perpetuate high inflation.

    Right now we are doing everything but rushing out to push up prices.

    A briefing note prepared by the Australian Council of Social Service ahead of Tuesday’s Reserve Bank board meeting says real household disposable income per capita has fallen by almost 8% since inflation and interest rates began climbing, far more than in the US, the UK, Germany and Canada.

    Bullock is about to get more chances to cut

    There’s a chance the tax cuts that began in July will give spending a bit of a boost but much of whatever extra spending there is will be on imports, and the steadily climbing Australian dollar is making them cheaper by the day.

    The Australian dollar hit a new high for the year of 68.5 US cents on Tuesday on the back of a widening differential between US and Australian interest rates as the US cuts rates.

    Governor Bullock gets two more opportunities to cut rates this year, at the board meeting on Melbourne Cup Tuesday November 5 shortly after news of very low inflation in the September quarter, and on December 9 shortly after news of economic growth likely to show income per person going further backwards.

    There’s a fair chance she will take one of them.

    Peter Martin is Economics Editor of The Conversation.

    – ref. No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming – https://theconversation.com/no-rba-rate-cut-yet-but-governor-bullock-is-about-to-find-the-pressure-overwhelming-239603

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: Samsung’s Biggest Festive Sale ‘Fab Grab Fest’ is back with Never-seen Before Deals & Offers on Smartphones, Digital Appliances, Smart Televisions, Monitors, Tablets & More

    Source: Samsung

     
    Samsung, India’s largest customer electronics brand, today announced its biggest festive sale ‘Fab Grab Fest’ starting 26th September, offering exciting deals and cashback on Galaxy smartphones, tablets, laptops, accessories, wearables, smart televisions, digital appliances and smart monitors. These never-before offers will be available on Samsung.com, Samsung Shop App and Samsung Exclusive Stores.
     
    Buy More Save More
    At heart of this festive sale will be Buy More Save More, where customers can avail an additional up to 5% discount when purchasing two or more products. This offer is only applicable on select smartphones, wearables, smart televisions and digital appliances while purchasing through Samsung.com or Samsung Shop App.
     
    As part of Buy More Save More, Consumers buying the Galaxy Z Fold6 can get Galaxy Buds FE at just ₹ 1249 in addition to all other applicable offers. Similarly, those buying the Galaxy Book4 can get a FHD Flat Monitor at just ₹ 1920. There are also a host of other products at no extra cost such as convection microwave when customer purchases the BESPOKE Family Hub Fridge & a Q-Symphony Soundbar when customers purchase the Neo QLED 8K Smart Television.
    Samsung’s commitment of delivering more value is what’s sets Fab Grab Fest apart. Beyond price discounts, bank cashback offers and exchange deals, ‘Buy More, Save More’ ensures that Samsung.com customers get a little extra for every purchase, whether it is smartphones, accessories, smart televisions or digital appliances.
     
    Fab Grab Fest will not only offer best prices but also unmatched value through Samsung’s trusted Direct-to Consumer channels. Alongside special deals, customers can be assured of the quality, authenticity, and product availability.
     
    During ‘Fab Grab Fest’, consumers can get up to 53% off on select models of the Galaxy Z series, Galaxy S series, and Galaxy A series smartphones. Select models of Galaxy Book4 series laptops will be available at a discount of up to 27% off, while specific models of Tab A9 and Tab S9 series, Buds3 Series, Galaxy Watch Series will have up to 74% off.
     
    The offers extend beyond smartphones with up to 43% off on Samsung Smart Televisions – Neo QLED 8K, Neo QLED, QLED, The Frame and  Crystal 4K UHD, The Freestyle projector. Additionally, customers purchasing select 55-inch and above models will be able to get their  hands on a free Samsung Smart Television or Soundbar. During this festive sale, Samsung will also extend a three- years Comprehensive Warranty for free on select 32″ and above Smart Televisions.
     
    Samsung’s monitors will be available at up to 67% off. Additionally, select smart and gaming monitors can fetch instant cart discount of up to ₹ 10000.
     
    The excitement doesn’t end here, Customers can get up to 39% off on a wide range of premium appliances such as Side by Side and French Door Refrigerators. They will also get a 20-year warranty on Digital Inverter Compressors. Front Load and Top Load washing machines of 8Kg and above capacity will have up to 28% off and 20 years warranty on Digital Inverter motor. There will also be an instant cart discount of up to ₹ 2000 on select 9Kg Fully Automatic Front Loading washing machines.
     
    Cashback on with ICICI, HDFC and SBI and other leading banks
     
    Consumers can enjoy up to 40% cashback (up to ₹ 15000) on select smartphones, tablets, wearables, and laptops when using debit and credit cards from ICICI, HDFC, and other leading banks during the Fab Grab Fest.
     
    Additionally, for purchases of select smart televisions and digital appliances customers can avail up to 22.5% cashback (up to ₹ 25000) when using debit or credit cards from ICICI, HDFC, SBI and other leading banks as part of the Fab Grab Fest offers.
    Fab Grab Fest Offers
    Products / Category
    Consumer Offer
    Highlight Models
    Smartphones
    Up to 53% off
    Galaxy Z Fold6, Galaxy Z Flip6, Galaxy S24 Ultra, Galaxy S24+, Galaxy S24, Galaxy S23 Ultra, Galaxy S23+, Galaxy S23, Galaxy S23 FE, Galaxy A55 5G, Galaxy A35 5G, Galaxy M35 5G, Galaxy M15 5G, Galaxy F55 5G
    Laptops
    Up to 27% off
    Galaxy Book4 Pro 360, Galaxy Book4 Pro, Galaxy Book4 360, Galaxy Book4
    Tablets, Accessories & Wearables
    Up to 74% off
    Galaxy Tab S10 Series, Galaxy Tab S9 Series, Galaxy Tab S9 FE+, Galaxy Tab S9 FE, Galaxy Tab A9+, Galaxy Tab A9, Galaxy Watch7 Series, Galaxy Watch Ultra, Galaxy Watch FE, Galaxy Buds3 Pro, Galaxy Buds3, Galaxy Buds FE, Galaxy Fit3
    TVs
    Up to 43% off
    Special Offer: Free Neo QLED 8K, Neo QLED, Crystal 4K UHD TVs and Soundbars*
    3 Years Comprehensive Warranty^
    Neo QLED 8K, QLED, The Frame, Crystal 4K UHD, The Freestyle
    *Select 55″ & above TVs
    ^Select 32″ and above TVs
    Refrigerators
    Up to 39% off
    20 Years warranty on Digital Inverter Compressor
    Get Instant Cart Discount of up to ₹ 5000**
    Starting EMI : ₹ 3990 /mo. for French Door Refrigerators & Side by Side RefrigeratorsSpecial Offer :  – Buy Side by Side or French Door Refrigerators and get one year extended warranty at ₹ 449~
    All Side by Side and French Door Refrigerators
    **Select Side by Side refrigerators
    ~ Select Side by Side & French Door refrigerators (RF87 / RF90)
    Washing Machines
    Up to 28% off
    20 years warranty on Digital Inverter motor
    Fully Automatic Front Loading: Starting EMI ₹ 1990
    Fully Automatic Top Loading: Starting EMI ₹ 990
    Get instant cart discount of up to ₹2000^^^
    All Front Load >= 8Kg | Top Load > =8Kg washing machines
    ^^^ Select 9Kg Fully Automatic Front Loading models
    Microwaves
    Up to 31% off
    10-year warranty on Ceramic Enamel Cavity
    Get Instant Cart Discount of up to ₹ 500~~
    All Microwaves
    ~~ Select 28L Convection microwave ovens
    Monitors
    Up to 67% off
    Get instant cart discount of up to ₹ 10000***
    All Monitors
    ***Select Smart and Gaming monitors
    Bank Cashback
    Up to 40% cashback with ICICI, HDFC,  and other leading bank debit and credit cards (Up to ₹ 15000) ##
    Up to 22.5% cashback with ICICI, HDFC, SBI and other leading bank cards (Up to ₹ 25000)^^
    ## Smartphones, tablets, wearables, and laptops.
    ^^ Select TVs & Digital Appliances
     

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung’s Biggest Festive Sale ‘Fab Grab Fest’ is back with Never-seen Before Deals & Offers on Smartphones, Digital Appliances, Smart Televisions, Monitors, Tablets & More

    Source: Samsung

     
    Samsung, India’s largest customer electronics brand, today announced its biggest festive sale ‘Fab Grab Fest’ starting 26th September, offering exciting deals and cashback on Galaxy smartphones, tablets, laptops, accessories, wearables, smart televisions, digital appliances and smart monitors. These never-before offers will be available on Samsung.com, Samsung Shop App and Samsung Exclusive Stores.
     
    Buy More Save More
    At heart of this festive sale will be Buy More Save More, where customers can avail an additional up to 5% discount when purchasing two or more products. This offer is only applicable on select smartphones, wearables, smart televisions and digital appliances while purchasing through Samsung.com or Samsung Shop App.
     
    As part of Buy More Save More, Consumers buying the Galaxy Z Fold6 can get Galaxy Buds FE at just ₹ 1249 in addition to all other applicable offers. Similarly, those buying the Galaxy Book4 can get a FHD Flat Monitor at just ₹ 1920. There are also a host of other products at no extra cost such as convection microwave when customer purchases the BESPOKE Family Hub Fridge & a Q-Symphony Soundbar when customers purchase the Neo QLED 8K Smart Television.
    Samsung’s commitment of delivering more value is what’s sets Fab Grab Fest apart. Beyond price discounts, bank cashback offers and exchange deals, ‘Buy More, Save More’ ensures that Samsung.com customers get a little extra for every purchase, whether it is smartphones, accessories, smart televisions or digital appliances.
     
    Fab Grab Fest will not only offer best prices but also unmatched value through Samsung’s trusted Direct-to Consumer channels. Alongside special deals, customers can be assured of the quality, authenticity, and product availability.
     
    During ‘Fab Grab Fest’, consumers can get up to 53% off on select models of the Galaxy Z series, Galaxy S series, and Galaxy A series smartphones. Select models of Galaxy Book4 series laptops will be available at a discount of up to 27% off, while specific models of Tab A9 and Tab S9 series, Buds3 Series, Galaxy Watch Series will have up to 74% off.
     
    The offers extend beyond smartphones with up to 43% off on Samsung Smart Televisions – Neo QLED 8K, Neo QLED, QLED, The Frame and  Crystal 4K UHD, The Freestyle projector. Additionally, customers purchasing select 55-inch and above models will be able to get their  hands on a free Samsung Smart Television or Soundbar. During this festive sale, Samsung will also extend a three- years Comprehensive Warranty for free on select 32″ and above Smart Televisions.
     
    Samsung’s monitors will be available at up to 67% off. Additionally, select smart and gaming monitors can fetch instant cart discount of up to ₹ 10000.
     
    The excitement doesn’t end here, Customers can get up to 39% off on a wide range of premium appliances such as Side by Side and French Door Refrigerators. They will also get a 20-year warranty on Digital Inverter Compressors. Front Load and Top Load washing machines of 8Kg and above capacity will have up to 28% off and 20 years warranty on Digital Inverter motor. There will also be an instant cart discount of up to ₹ 2000 on select 9Kg Fully Automatic Front Loading washing machines.
     
    Cashback on with ICICI, HDFC and SBI and other leading banks
     
    Consumers can enjoy up to 40% cashback (up to ₹ 15000) on select smartphones, tablets, wearables, and laptops when using debit and credit cards from ICICI, HDFC, and other leading banks during the Fab Grab Fest.
     
    Additionally, for purchases of select smart televisions and digital appliances customers can avail up to 22.5% cashback (up to ₹ 25000) when using debit or credit cards from ICICI, HDFC, SBI and other leading banks as part of the Fab Grab Fest offers.
    Fab Grab Fest Offers
    Products / Category
    Consumer Offer
    Highlight Models
    Smartphones
    Up to 53% off
    Galaxy Z Fold6, Galaxy Z Flip6, Galaxy S24 Ultra, Galaxy S24+, Galaxy S24, Galaxy S23 Ultra, Galaxy S23+, Galaxy S23, Galaxy S23 FE, Galaxy A55 5G, Galaxy A35 5G, Galaxy M35 5G, Galaxy M15 5G, Galaxy F55 5G
    Laptops
    Up to 27% off
    Galaxy Book4 Pro 360, Galaxy Book4 Pro, Galaxy Book4 360, Galaxy Book4
    Tablets, Accessories & Wearables
    Up to 74% off
    Galaxy Tab S10 Series, Galaxy Tab S9 Series, Galaxy Tab S9 FE+, Galaxy Tab S9 FE, Galaxy Tab A9+, Galaxy Tab A9, Galaxy Watch7 Series, Galaxy Watch Ultra, Galaxy Watch FE, Galaxy Buds3 Pro, Galaxy Buds3, Galaxy Buds FE, Galaxy Fit3
    TVs
    Up to 43% off
    Special Offer: Free Neo QLED 8K, Neo QLED, Crystal 4K UHD TVs and Soundbars*
    3 Years Comprehensive Warranty^
    Neo QLED 8K, QLED, The Frame, Crystal 4K UHD, The Freestyle
    *Select 55″ & above TVs
    ^Select 32″ and above TVs
    Refrigerators
    Up to 39% off
    20 Years warranty on Digital Inverter Compressor
    Get Instant Cart Discount of up to ₹ 5000**
    Starting EMI : ₹ 3990 /mo. for French Door Refrigerators & Side by Side RefrigeratorsSpecial Offer :  – Buy Side by Side or French Door Refrigerators and get one year extended warranty at ₹ 449~
    All Side by Side and French Door Refrigerators
    **Select Side by Side refrigerators
    ~ Select Side by Side & French Door refrigerators (RF87 / RF90)
    Washing Machines
    Up to 28% off
    20 years warranty on Digital Inverter motor
    Fully Automatic Front Loading: Starting EMI ₹ 1990
    Fully Automatic Top Loading: Starting EMI ₹ 990
    Get instant cart discount of up to ₹2000^^^
    All Front Load >= 8Kg | Top Load > =8Kg washing machines
    ^^^ Select 9Kg Fully Automatic Front Loading models
    Microwaves
    Up to 31% off
    10-year warranty on Ceramic Enamel Cavity
    Get Instant Cart Discount of up to ₹ 500~~
    All Microwaves
    ~~ Select 28L Convection microwave ovens
    Monitors
    Up to 67% off
    Get instant cart discount of up to ₹ 10000***
    All Monitors
    ***Select Smart and Gaming monitors
    Bank Cashback
    Up to 40% cashback with ICICI, HDFC,  and other leading bank debit and credit cards (Up to ₹ 15000) ##
    Up to 22.5% cashback with ICICI, HDFC, SBI and other leading bank cards (Up to ₹ 25000)^^
    ## Smartphones, tablets, wearables, and laptops.
    ^^ Select TVs & Digital Appliances
     

    MIL OSI Economics –

  • MIL-OSI China: China to create new monetary policy tools to support stock market

    Source: China State Council Information Office

    China’s central bank will create new monetary policy tools to support the stable development of the stock market, the central bank governor said Tuesday.

    The central bank will establish a swap program for securities, funds and insurance companies to obtain liquidity from the central bank through asset collateralization, Pan Gongsheng, governor of the People’s Bank of China, told a press conference.

    The program will significantly enhance the companies’ ability to acquire funds and increase their stock holdings, Pan said.

    According to Pan, eligible companies could use their assets including bonds, stock ETFs and holdings in constituents of the CSI 300 Index as collateral in exchange for highly liquid assets such as treasury bonds and central bank bills. Funds obtained through this tool can only be used for investment in the stock market.

    The initial scale of the swap program will be set at 500 billion yuan (about 70 billion U.S. dollars), with possible expansions in the future, Pan said.

    The central bank will also create a special re-lending facility to guide banks to provide loans to listed companies and their major shareholders for buybacks and increasing shareholdings, Pan said.

    The initial re-lending will be 300 billion yuan at an interest rate of 1.75 percent for commercial banks, which could lend to their clients at an interest rate of 2.25 percent. Depending on the market conditions, the operation may be repeated in the future, Pan said.

    The facility can be applied to various types of companies regardless of their ownership, Pan added.

    MIL OSI China News –

  • MIL-OSI Economics: BSTDB Builds Up Partnership with OCN Microinvest S.R.L. to Boost Moldova’s Real Economy and Green Financing

    Source: Black Sea Trade and Development Bank

    Press Release | 24-Sep-2024

    New Credit Line to Support Small Businesses and Green Projects

    To bolster economic activity and promote green financing in Moldova, the Black Sea Trade and Development Bank (BSTDB) has announced a new partnership with OCN Microinvest S.R.L., the leading microfinance company in the country. Under this partnership, BSTDB will provide a credit line of up to EUR 10 million, aimed at enhancing financial access for small businesses and supporting the real economy in Moldova.

    OCN Microinvest S.R.L. will on-lend the funds offered by BSTDB to micro, small, and medium-sized enterprises (MSMEs) to support their activities and growth. A portion of these funds will be specifically allocated for green financing initiatives, including energy and resource efficiency, green energy and low-carbon technologies.

    Signing the loan agreement, Dr. Serhat Köksal, BSTDB President, said: “Developing strategic partnerships with leading financial institutions in our member countries is crucial for fulfilling our mandate, particularly when direct outreach to end users is not feasible. Access to finance for micro, small, and medium enterprises is vital for sustainable and inclusive growth in Moldova. In alignment with our Climate Strategy, we are pleased to see that a portion of our loan will be dedicated to financing green activities, thereby contributing effectively to the decarbonization of the Moldovan economy.”

    Dumitru Svinarenco, CEO of OCN Microinvest SRL: “This new partnership with the Black Sea Trade and Development Bank is a testament to our shared commitment to fostering Moldova’s economic resilience and environmental sustainability. The EUR 10 million credit line will provide a much-needed boost to the country’s MSMEs, helping them to scale and adapt in a challenging economic landscape. Moreover, the focus on green financing aligns perfectly with Microinvest’s strategy to encourage more businesses to embrace energy efficiency and sustainable practices. We are proud to be working with BSTDB to support not only the growth of small businesses but also the broader transition to a greener economy in Moldova.”

    O.C.N. Microinvest S.R.L.  was established in 2003 as a microfinance limited liability company in Moldova. The company has a solid shareholding structure, comprising reputable foreign and local non-profit and developmental financial institutions. The company’s activity focuses on lending to individuals and micro, small and medium size enterprises.

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

    Contact: Haroula Christodoulou

    Phone: +30 2310 290533

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI Video: World Bank’s Fund for Low-Income Countries – Press Conference | United Nations

    Source: United Nations (Video News)

    The Prime Minister of Denmark, Mette Frederiksen, and World Bank Group President Ajay Banga briefed reporters today (23 Sep) on the Denmark’s support for the World Bank’s Fund for Low-Income Countries.

    Prime Minister Frederiksen previously announced at the United Nations’ Summit of the Future, that Denmark has pledged approximately $491.7 million to the World Bank’s fund for the poorest countries, making it a 40 per cent increase over the country’s previous contribution.

    Speaking to journalists, Frederiksen reiterated Denmark’s commitment, stating, “you can count on Denmark, both when it comes to the concrete and necessary tasks, but also in supporting the reforms. And I think it’s not only necessary for the countries who are in need of it, but it’s also necessary if we want to stick together as one world.”

    World Bank President Ajay Banga echoed the need for action. He said, “we can, frankly, we must, help to chart a course towards that brighter future,” emphasizing that the starting point lies in supporting initiatives like the International Development Association and leveraging the World Bank’s knowledge.

    https://www.youtube.com/watch?v=j6YVT_R7vXU

    MIL OSI Video –

  • MIL-OSI Europe: France: EIB and European Commission provide €276 million in support for Métropole Européenne de Lille’s investments in sustainable mobility

    Source: European Investment Bank

    • Métropole Européenne de Lille is receiving a €245 million green loan from the EIB to back its modernisation and urban transport projects.
    • This financing comes together with a €31.5 million grant from the European Commission via the public sector loan facility (PSLF) set up under the European Green Deal’s Just Transition Mechanism (JTM).
    • This joint blended financing support from the EIB and European Commission will unlock additional investment for public entities in the European regions most affected by the energy transition.

    Métropole Européenne de Lille (Lille metropolitan authority) has taken out a €245 million green loan with the European Investment Bank (EIB) to fund its public transport network and cycle routes. It aims to provide 1.2 million local residents with more efficient, affordable and environmentally friendly transport services.

    This project is also benefiting from a €31.5 million European Commission grant under a blended financing structure made possible by the public sector loan facility (PSLF), which is one of the key pillars of the Just Transition Mechanism (JTM) set up under the European Green Deal. The European Climate, Infrastructure and Environment Executive Agency (CINEA) will manage this grant and monitor the implementation of the project.

    The Mel in Green Mobility project will provide funding for various segments of Métropole Européenne de Lille’s public transport infrastructure. The first part of the project covers the modernisation of the public transport fleet, including the renewal of 30 trams and 42 buses with new clean vehicles. It also features investments in platforms, depots and other related facilities. Lastly, the project supports the Métropole’s ambitious cycling plan including 220 km of additional infrastructure between 2023 and 2027 to improve safety for cyclists, the financing of a new bus rapid transit line, and the construction of a multimodal interchange hub.

    It thereby aims to accelerate changes in user behaviour by developing a more efficient and sustainable mobility service, improving public transport accessibility and broadening soft mobility options. Once complete, the project will have improved tram and bus network performance, promoted intermodality (reduction in the share of private vehicles from 56% in 2023 to 40% in 2035) and diversified public transport in the area. This increased network efficiency will ultimately result in substantial time savings on the 410 000 daily journeys made by users, fewer traffic jams and better access to the Métropole Européenne de Lille.

    The regions most affected by the energy transition (like Hauts-de-France) are identified in the territorial just transition plans. These plans are drawn up by each EU Member State and outline the challenges to be addressed in each just transition region, together with the development needs and targets to be reached by 2030.

    Background information

    About the EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its 27 Member States. It provides loans to the public and private sectors for sound investment contributing to EU policy goals. In 2023, France received more EIB financing for the energy and green transition than any other country, with an overall investment of €6.9 billion for renewable energy, clean mobility and energy efficiency. A partner of regional authorities, last year the EIB directed €2.3 billion in funding to rail and urban public transport and soft mobility, making it the number one sector in terms of EIB investment in France over the year.

    About the European Commission’s Just Transition Mechanism

    The public sector loan facility (PSLF) is the third pillar of the Just Transition Mechanism (JTM) – a key tool of the European Green Deal investment plan to make sure that no one and no region is left behind in the transition to a climate-neutral economy.

    The public sector loan facility combines loans from the EIB (up to around €6 billion to €8 billion overall) and grants from the European Commission (up to €1.3 billion overall). The combined support is designed to mobilise additional investment for public sector entities in the European regions most affected by the climate and energy transition (like Hauts-de-France), as identified in the national territorial just transition plans, to meet their development needs as part of the transition to a climate-neutral economy. These plans are developed by each EU Member State and set out the challenges in each just transition region, along with the development needs and objectives to be met by 2030.

    The blend of the EIB loan and the European Commission grant will facilitate the financing of projects that do not generate sufficient revenue streams to cover their investment costs. The implementation of the public sector loan facility is managed by the European Climate, Infrastructure and Environment Executive Agency (CINEA).

    About Métropole Européenne de Lille

    Métropole Européenne de Lille works every day to serve its 95 member municipalities and 1.2 million residents. It covers the key areas of transport, housing, economy, public space and roadways, urban planning, urban policy, water, wastewater, household waste, disability access, nature and living environment, sport, tourism and crematoria. Chaired by Damien Castelain since 18 April 2014, the Metropolitan Council is composed of 184 members elected by direct universal suffrage for a six-year mandate.

    MIL OSI Europe News –

  • MIL-OSI Banking: Web tracking report: who monitored users’ online activities in 2023–2024 the most

    Source: Securelist – Kaspersky

    Headline: Web tracking report: who monitored users’ online activities in 2023–2024 the most

    Web tracking has become a pervasive aspect of our online experience. Whether we’re browsing social media, playing video games, shopping for products, or simply reading news articles, trackers are silently monitoring our online behavior, fueling the ceaseless hum of countless data centers worldwide. In this article, we’re going to explore various types of web trackers and present a detailed annual report that dissects their geographical distribution and organizational affiliations.

    What is web tracking?

    Web tracking is the practice of collecting, storing, and analyzing data about users’ online behavior. This data can include demographics, website visits, time spent on sites, and interactions like clicks, scrolls, and mouse pointer hovers that can be leveraged for creating heatmaps, etc. The primary goal of web tracking is to gain valuable insights into user behavior, preferences, and interests. This information allows businesses to personalize experiences, improve user engagement, target advertising more efficiently, and measure the performance of their online services.

    Types of web tracking

    Web tracking can be classified into several categories based on the methods and technologies employed:

    Cookies

    Cookies are small text files that websites place on a user’s device to store information about their visits, such as login credentials, preferences, and tracking identifiers. Despite a commendable commitment to enhance online privacy, primarily Google’s Privacy Sandbox project, Kaspersky experts anticipate that third-party cookies will persist for long time yet. In fact, even as we were processing the data to write this report, Antonio Chavez, Vice President of Privacy Sandbox, announced an intention to reconsider the plan of third-party cookies deprecation.

    Web beacons

    Also known as web bugs or tracking pixels, web beacons are transparent images — typically lines or 1×1 pixels — that send a lot of tracking data, usually via a query string. When a user accesses the content, the web beacon sends data back to the server. This allows businesses to track user interactions without requiring additional action from the user.

    Social media tracking

    Many websites embed social media buttons that help users to share content easily. However, these innocuous buttons often come with tracking capabilities. Even if the user does not engage with the social media site directly, these platforms still collect data on their online behavior.

    Web analytics

    Services like Google Analytics offer a deep dive into user engagement on websites. These tools track a wide range of metrics, from page views and bounce rates to conversion rates, empowering businesses to understand user behavior and optimize website performance.

    Fingerprinting

    Device fingerprinting is a tracking technique that identifies users by collecting unique information about their device and browser settings. This includes details like screen resolution, operating system, installed plugins, and browser language. This creates a unique “fingerprint” that can identify the user across different websites, even without cookies.

    Statistics collection principles

    For this report, we used anonymous statistics collected from July 2023 to June 2024 inclusive, by the Do Not Track (DNT) component, which prevents the loading of tracking elements that track user actions on websites. The statistics consist of anonymized data provided by users voluntarily.

    Even the most experienced users often make the mistake to confuse DNT features with the built-in “incognito mode” offered by all leading web browsers. Incognito mode only ensures that all your data like browsing history and cookies is cleared after you close the private window. However, it does not prevent websites from tracking your activities within that session. It also does not make you anonymous to your internet service provider (ISP) or protect you from adware or spyware that might be tracking your online behavior, cryptominers, or worse.

    Over the year, the DNT component was triggered 38,725,551,855 times. We have compiled a list of 25 tracking services that DNT detected most frequently across nine regions and certain individual countries. 100% represents the total number of DNT detections triggered by all 25 tracking services.

    The DNT component is included in all Kaspersky security solutions and is disabled by default.

    Global tracker giants

    Eight tracking systems appeared in almost all of the TOP 25 lists for the regions we studied. Four of these belong to Google. Besides these, we will look at two other tracking systems which were also widely represented across almost all regions: New Relic and Microsoft.

    In addition, two other systems – Criteo and Facebook Custom Audiences – also made it into the TOP 25 for all regions, but we’ve already covered them in previous articles.

    Google

    Google has several tracking systems responsible for various but often overlapping areas of marketing, advertising, and other fields involving the collection, analysis, and interpretation of user data.

    Google Display & Video 360 is a tool for managing advertising campaigns. Its trackers monitor advertising-related activities (clicks, technical metrics of ads, and so on). This system had the largest share among the TOP 25 tracking systems in Asia. In South Asia, it accounted for 25.47% of DNT component triggers, and in East Asia – 24.45%. The smallest share of this tracking system was in the CIS (Commonwealth of Independent States) – just 8.38%, as this region features a strong presence of local tracking systems, which we will discuss later.

    The share of DNT triggers for Google Display & Video 360 trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    Compared to our previous report, covering the period from August 2021 to August 2022, the presence of Google Display & Video 360 slightly increased in East Asia and the CIS, while it decreased in other regions.

    The second frequently encountered tracking system is Google Analytics. This system analyzes user behavior and tracks keywords to enhance website traffic and efficiency. Its largest share is in Latin America – 14.89%, followed by the Middle East at 14.12%. The lowest share of these trackers in our statistics is in North America – 8.42%.

    The share of DNT triggers for Google Analytics trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    Just like the previous system, Google Analytics slightly increased its share in East Asia (up to 13.83%) and the CIS (9.36%), while decreasing in other regions.

    Trackers from Google AdSense, like Google Display & Video 360, monitor advertising activity and provide reports to website owners. This tracking system has its largest share in the Middle East (6.91%) and South Asia (6.85%). The smallest shares are in Oceania (3.76%) and the CIS (2.30%).

    The share of DNT triggers for Google AdSense trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    In almost all regions, the share for this tracking system increased. It’s worth noting that while some of these tracking systems reduced their presence in certain regions and others increased, they all belong to the same company – Google. Thus, user tracking by Google remains extensive, far exceeding other companies.

    Another significant Google tracking system is YouTube Analytics. It gathers information about video views and audience engagement, measures engagement levels, and more. YouTube Analytics holds the largest share in South Asia (12.71%) and the Middle East (12.30%), and the smallest in Europe (5.65%) and North America (4.56%).

    The share of DNT triggers for YouTube Analytics trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    Compared to other Google tracking systems, YouTube Analytics has notably increased its share in all regions.

    New Relic

    The share of DNT triggers for New Relic trackers in each region, July 2023 — June 2024 (download)

    The San Francisco-based New Relic appeared for the first time in our list of global giants present in all regions. Its activity is focused on web tracking for subsequent performance analysis and the detection of website and application errors. The largest share of this tracking system is in Oceania – 15.79%, and the smallest in the CIS – 1.96%.

    Bing and Microsoft Corporation

    The share of DNT triggers for Microsoft Corporation trackers in each region, July 2023 — June 2024 (download)

    Microsoft trackers collect information about user interactions with its online services and other sites. This data is used to optimize service performance, find errors, and more. While this tracking system has a relatively small share, it is present in all regional TOP 25 lists. Microsoft Corporation largest share is in Latin America – 3.38%, and the smallest in the CIS – 0.68%.

    We studied Bing as a separate tracking system, although it is actually part of Microsoft.

    The share of DNT triggers for Bing trackers in each region, July 2023 — June 2024 (download)

    Bing is a full-fledged search engine. Its trackers collect information on search queries, location, and user preferences to display relevant ads – classic search engine functionality. It can be assumed that the share of Bing’s tracking system in various regions indicates the popularity of the search engine itself. A notable share of Bing trackers among the TOP 25 was in Africa – 8.46%, and the smallest in the CIS – 0.77%.

    Regional statistics

    Europe

    Distribution of the TOP 25 tracking systems in Europe, July 2023 — June 2024 (download)

    In the European region, Google tracking systems occupy the top two positions in the TOP 25. Google Display & Video 360 accounts for 17.27%, while Google Analytics holds 11.93%. In third place, with a 9.13% share, is Amazon Technologies. Fourth is Criteo with 6.80%, followed by YouTube Analytics (5.65%), Bing (5.33%), and Google AdSense (5.23%).

    In addition to the tracking systems that are in the TOP 25 of other regions, there is one company in the European ranking not found anywhere else: Improve Digital, a Dutch company that deals with advertising and marketing projects. It closes the TOP 25 with a small share of 1.22%. Next, we’ll look at regions and even countries where the tracking system rankings contain far more names not found in any other region.

    Africa

    Distribution of the TOP 25 tracking systems in Africa, July 2023 — June 2024 (download)

    In Africa, Google trackers occupy the top three spots, with Google Display & Video 360 leading at 19.03%. By the way, only one region and one country among those we examined do not have Google tracking systems in the top position; in nearly all other regions, Google Display & Video 360 leads the rankings, occasionally being surpassed by Google Analytics. In second and third place in the African region are Google Analytics (12.94%) and YouTube Analytics (10.25%). Following them are the aforementioned New Relic (8.55%), Bing (8.46%), Google AdSense (5.11%), Criteo (3.40%), and Xandr (3.17%) – a company owned by Microsoft that focuses on advertising and analytics. The African TOP 25 doesn’t contain any unique tracking systems that can’t be found in other regions.

    Middle East

    Distribution of the TOP 25 tracking systems in the Middle East (excluding Iran), July 2023 — June 2024 (download)

    The top four most widespread tracking systems in the Middle East belong to Google: Google Display & Video 360 (22.92%), Google Analytics (14.12%), YouTube Analytics (12.30%), and Google AdSense (6.91%). Next are Criteo (6.55%), New Relic (4.42%), Bing (2.66%), and Amazon Technologies (2.37%).

    In 19th place, with a small share of 1.42%, are trackers from the Turkish advertising company Virgul.com, unique to this region.

    Distribution of the TOP 25 tracking systems in Iran, July 2023 — June 2024 (download)

    In the Middle East, there is one country worth considering separately due to the significant number of tracking systems that are not found in other rankings – Iran. Despite the presence of numerous local trackers, Google still takes the top spot. However, not with Google Display & Video 360, which ranks third at 11.35%, but rather with Google Analytics at 35.78%, the highest for this system across all the regions and countries we reviewed. In second place are Microsoft Corporation trackers (12.08%), and in fourth is Yandex.Metrica (4.90%). The latter is a division of the Russian company Yandex, responsible for user data collection and analysis for advertising and marketing services, such as analyzing audiences and their behavior. Following Yandex is the local Tehran-based company Yektan (4.52%), which collects and analyzes data for advertising services. Another local Iranian company in the TOP 25 is the internet advertising agency SabaVision (1.55%).

    In addition to these domestic trackers, Iran’s TOP 25 also includes some that appear only in this country but which are not Iranian in origin. These include Tradingview.com (1.84%), an American company collecting telemetry, Amplitude (1.46%), a digital analytics company, Heap (1.18%), a product optimization platform, and Webklipper Technologies (0.96%), which specializes in internet marketing.

    Latin America

    Distribution of the TOP 25 tracking systems in Latin America, July 2023 — June 2024 (download)

    The TOP 25 tracking systems most frequently detected in Latin America contain no local companies. Google Display & Video 360 ranks first with 20.13%, followed by Google Analytics (14.89%) and YouTube Analytics (8.89%). The TOP 25 is completed by PubMatic (1.08%), a company providing software for internet advertising. While it appears in many TOP 25 rankings, its share is minimal.

    North America

    Distribution of the TOP 25 tracking systems in North America, July 2023 — June 2024 (download)

    In North America, Google Display & Video 360 leads the TOP 25 with a significant margin, holding 16.84%. Amazon Technologies comes second with 9.08%. Interestingly, Amazon Technologies trackers appear in the TOP 3 only in three regions or countries we considered: Europe, North America, and Japan. In third place is Google Analytics with 8.42%, which is the lowest share for this system in any of the regions examined. New Relic comes in fourth with 7.62%.

    The North American TOP 25 includes two tracking systems not seen in other regions: The Trade Desk (1.79%) and Quantum Metric (1.76%), both American companies providing platforms for digital analytics and advertising.

    Oceania

    Distribution of the TOP 25 tracking systems in Oceania, July 2023 — June 2024 (download)

    In Oceania, Google Display & Video 360 (18.43%) ranks first, and New Relic, with a 15.79% share, takes second, marking the highest percentage for this tracking system among all the regions and countries examined. Google Analytics is in third place with 12.00%. In addition to the trackers found in most regions, Oceania features Oracle Moat Measurement (2.10%), Chartbeat (1.11%), and Nielsen (1.03%), which appear only in this region’s ranking. Chartbeat is an American company that collects and analyzes user data for media companies to improve monetization. Nielsen is an American company specializing in market measurement, collecting and analyzing user data for this purpose. Oracle Moat Measurement is the advertising division of Oracle, which will cease operations on September 30, 2024. Oracle itself will exit the advertising market, so this is likely the last time we’ll see this tracking system in our research.

    The CIS

    Distribution of the TOP 25 tracking systems in the CIS (excluding Russia), July 2023 — June 2024 (download)

    The CIS region is the most unusual in terms of the distribution of the TOP 25 tracking systems. This is the only region where Google trackers do not occupy the top two spots, ranking third (Google Analytics) with a relatively small share of 9.30% or lower. The first place is held by Yandex.Metrica trackers with 26.19%. As mentioned earlier, Yandex system not only made the TOP 25 in the CIS but was also seen in the Iranian ranking (fourth place at 4.90%), the Middle East (2.30%), and of course, Russia, where it holds first place with a 26.43% share.

    In second place in the CIS ranking is the tracking system from Mail.ru (owned by the VK corporation) with a share of 20.76%. In addition to these two giants in the CIS tracking market, several other local tracking systems also made it into the TOP 25. Right after the three Google systems – Google Analytics (9.30%), YouTube Analytics (8.34%), and Google Display & Video 360 (8.33%) – the tracking system of the local company Mediascope had 2.82%. Mediascope focuses on audience preference and behavior research. Also included in the TOP 25 of the CIS are developments from the following Russian companies: Adriver (2.75%), Buzzoola (2.02%), AdFox, owned by Yandex (1.69%), Rambler Internet Holdings (1.46%), Sape.ru (1.42%), Artificial Computation Intelligence (1.33%), Between Digital (1.01%), Otm (0.99%), Adx.com.ru (0.93%). In total, Russian tracking systems account for 63.35% of the overall CIS ranking.

    Distribution of TOP 25 tracking systems in Russia, July 2023 — June 2024 (download)

    In Russia, the TOP 5 is occupied by domestic tracking systems: Yandex.Metrica (26.43%), Mail.Ru (16.60%), Mediascope (6.16%), Sape.ru (4.89%) and Artificial Computation Intelligence (4.80%). Google AdSense only ranks sixth with a 4.50% share. In addition to the trackers seen in the CIS TOP 25, the Russian ranking features an even larger number of Russian tracking services: VK (2.09%), Uniontraff (1.79%), Bidvol (1.16%), Teleport Media (0.97%), Avito (0.87%), MoeVideo (0.79%), GetIntent (0.62%), AmberData (0.59%), Kimberlite.io (0.59%) and Bumlam.com (0.56%).

    The share of Russian tracking systems in the TOP 25 amounts to 87.50%. This makes Russia the only region where the overwhelming majority of the TOP 25 tracking systems are local players.

    East Asia

    Distribution of the TOP 25 tracking systems in East Asia (excluding Japan and South Korea), July 2023 — June 2024 (download)

    The top four positions in East Asia are occupied by Google tracking systems. Google Display & Video 360 is in first place with a share of 24.45%, followed by Google Analytics (13.83%), YouTube Analytics (11.66%), and Google AdSense (6.61%). Unlike other regions, the tracking system of the major Chinese IT company Baidu made the TOP 25 in East Asia with a share of 1.87%.

    There are also countries in the region that are worth considering separately, as they feature not only global tracking systems but also local players.

    Distribution of the TOP 25 tracking systems in Japan, July 2023 — June 2024 (download)

    In addition to global companies whose tracking services are observed around the world, in Japan there are trackers only popular within the country. The Yahoo! Japan web portal is widely used, with its trackers accounting for 4.70%. Yahoo Advertising, the digital advertising division of Yahoo, holds a share of 2.35%.

    Local Japanese tracking systems are also well-represented in Japan’s TOP 25, including Geniee (2.77%), Adsp from the Japanese company SMN Corporation (1.35%), MicroAd (1.18%), Supership (1.05%), and LINE Corporation (1.04%). The total share of Japanese companies in the TOP 25 tracking systems is 12.08%.

    Distribution of the TOP 25 tracking systems in South Korea, July 2023 — June 2024 (download)

    The TOP 25 in South Korea also differs from other global rankings, as it includes local Korean trackers. For example, the tracking systems of the highly popular Korean online platform NAVER rank fifth with 7.75%. Another major local player, Kakao, appears twice in the rankings: Kakao trackers are in ninth place with a 1.83% share, while trackers from the web portal Daum (owned by Kakao Corporation) hold a 1.17% share.

    South Asia

    Distribution of the TOP 25 tracking systems in South Asia, July 2023 — June 2024 (download)

    The last region under review is South Asia. The ranking here is fairly typical in terms of the global statistics. Google Display & Video 360 takes first place with 25.47%, followed by Google Analytics (13.97%), YouTube Analytics (12.71%) and Google AdSense (6.85%). Only three American trackers made it into the TOP 25 in South Asia: Sovrn (1.24%), Mux (1.10%) and LinkedIn (1.02%).

    Takeaways

    Google remains the undisputed leader in collecting, analyzing, and processing user data globally. However, in regions like South Korea, Japan, and Russia – where local internet services are particularly advanced – regional tracking systems not only make it into the TOP 25 but can even prevail over global ones. In some cases, such as in the CIS, local trackers can even take over entire regions. On one hand, looking at the TOP 25, it’s clear that user data collection and analysis is not limited to just a few large companies – and the more companies store and process our data, the higher the risk of data breaches. On the other hand, the list of companies is still finite, and the majority of tracking is handled by IT giants, who are motivated to protect user data to avoid reputational damage. The presence of local trackers is undoubtedly a sign of technological development in a region or country. However, the spread of local tracking systems increases the risk of data leaks and can weaken the user’s sense of control over who collects their data. To prevent unwanted data collection by various companies and, in turn, prevent data leaks, we recommend activating the Do Not Track (DNT) plugin.

    MIL OSI Global Banks –

  • MIL-OSI Europe: WHO and multilateral development banks kick off US$ 1.5 billion primary health financing platform with new funds and launch of first investment plans in 15 countries

    Source: European Investment Bank

    Execution is starting under the new Health Impact Investment Platform on the first country health investment plans turning original commitment into operational reality. The landmark partnership between Multilateral Development Banks (MDBs), the World Health Organization (WHO) and low- and middle-income countries (LMICs) is addressing the critical need for coordinated efforts to strengthen primary healthcare (PHC) in vulnerable and underserved communities to build resilience against pandemic threats like mpox and the climate crisis.

    At the high-level roundtable meeting in New York on the margins of the UN Summit of the Future in New York today, new funding was signed, and it was agreed that the partners will sit down and start identifying needs and planning health care improvements in 15 countries*.

    The roundtable was attended by the partnership’s three founding MDBs – the African Development Bank (AfDB), the European Investment Bank (EIB), and the Islamic Development Bank (IDB) –,WHO and the heads of state, as well as finance and health ministers from Djibouti, Egypt and Ethiopia. The Asian Development Bank also attended the high-level meeting and announced their intention to join the Health Impact Investment Platform in order to expand the initiative into the regions where it operates.

    The EIB and WHO signed an initial contribution of € 10 million to kick start the implementation of these investment plans. The Islamic Development Bank and the African Development Bank are finalizing their contributions for the same amount that will be signed in the near future.

    The platform is a key part of an effort to unlock € 1.5 billion in concessional loans and grants to expand and improve primary health-care services in low- and middle-income countries, especially in the most vulnerable communities. The investment plans now being developed in these 15 countries, as a phase 1, are expected to make up a significant proportion of that financing effort.

    The platform aims to work in close partnership with governments to develop national health strategies focused on primary health care and on prioritizing investment opportunities that meet national health needs. Today’s kick-off comes one year after the platform was announced during the Summit for a New Global Financing Pact in Paris.

    Dr Ibrahima Sy, Minister of Health, Republic of Senegal said, “it’s important to bring in private sector, local communities and different forms of financing to drive health progress. The involvement of WHO, multilateral development banks and countries is critical to guiding the investments from this Platform to deliver primary health care on the ground and develop local vaccine manufacturing capacity.” 

    Dr Jane Ruth Aceng, Minister of Health of Uganda said, “I congratulate you for coming up with this very important platform. All our issues are actually based at primary health care level, whether it comes to disease outbreaks, whether it comes to health access, everything is at the primary health care level, and our diseases start there and end there.”

    “Primary health care is the most equitable, cost-effective and inclusive way to improve health and well-being, helping to keep people healthy, prevent diseases, and detect outbreaks at their earliest stage,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “The Health Impact Investment Platform will be a vital source of new financing to build climate and crisis-resilient primary health care in some of the countries that need it most. WHO thanks the multilateral development banks for their partnership, and we are committed to working closely with the countries to put these funds to work and start making a difference in the communities we serve.”

    Nadia Calviño, President of the European Investment Bank, said: “One year ago, we launched the Health Impact Investment Platform, and today we are taking the next steps with our contribution to help countries develop their tailored investment plans. Supporting primary health-care services is the foundation of strong communities. Working closely with fellow Multilateral Development Banks and partner countries, guided by the expertise of the World Health Organization, we are making a difference.”

    “The health security of the world is only as strong as its weakest part, and the new funds announced today will help countries improve primary healthcare, which is critical to stopping disease outbreaks in their tracks,” said Jutta Urpilainen, European Commissioner for International Partnerships. “In addition to the funds, the Platform will strengthen partnerships between countries and funders to ensure funds are effectively invested.”

    Before the COVID-19 pandemic, WHO estimated that to reach the health-related Sustainable Development Goals, low- and low-middle income countries needed to increase their health spending significantly and require an additional US$ 371 billion annually combined by 2030. This funding would allow populations to access health services, contribute to building new facilities and train and place health workers where they need to be. It has also been estimated that preparing for future pandemics will require investment in the order of US$ 31.1 billion annually. Approximately one third of that total would have to come from international financing.

    The new Platform builds on experience gained through cooperation between countries, multilateral organizations and development banks that proved fruitful during the pandemic. For example, WHO, the EIB and the European Commission supported Angola, Ethiopia and Rwanda in strengthening their health systems. Initially launched as stand-alone programmes or as part of the countries’ response to COVID-19, these interventions mobilized technical assistance, grants and investments with advantageous terms to build up or implement primary health care related interventions.

    *15 countries identified as part of phase one of the Health Impact Investment Platform are:

    • Burundi
    • Central African Republic 
    • Comoros
    • Djibouti
    • Egypt
    • Ethiopia 
    • Gambia
    • Guinea Bissau 
    • Jordan
    • Maldives
    • Morocco
    • Senegal
    • South Sudan 
    • Tunisia 
    • Zambia 

    Background information

    About the World Health Organization

    The World Health Organization (WHO) is the United Nations’ specialized agency for health. It is an inter-governmental organization and works in collaboration with its Member States usually through the Ministries of Health. The World Health Organization is responsible for providing leadership on global health matters, shaping the health research agenda, setting norms and standards, articulating evidence-based policy options, providing technical support to countries and monitoring and assessing health trends.

    Media contact: mediainquiries@who.int  

    About the African Development Bank Group

    The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 37 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.

    About the European Investment Bank

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment contributing to EU policy goals. The EIB’s activities focus on the following priority areas: climate and environment, development, innovation and skills, small and medium-sized businesses, infrastructure, and cohesion. The EIB works closely with other institutions and has provided total financing of more than € 42 billion for healthcare-related projects around the world since it started investing in the sector in 1997.  

    MIL OSI Europe News –

  • MIL-OSI Banking: BoBC Auction Results – 24 September 2024

    Source: Bank of Botswana

    The Monetary Policy Rate (MoPR) was unchanged at 1.9 percent of the previous week, for a paper maturing on 2 October 2024.  The summarised results of the auction held on 24 September 2024, are attached below:

    BOBC Results 24 September 2024.pdf

    MIL OSI Global Banks –