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  • MIL-OSI Global: I’m a Muslim immigrant and a psychiatrist living in Michigan – I haven’t decided how to vote yet

    Source: The Conversation – USA – By Farha Abassi, Assistant Professor of Psychiatry, Michigan State University

    My three daughters and I arrived in Michigan from Pakistan in 2000.

    Moving here was my choice, and I followed the legal process. Before the move, I had often been to the United States. I was familiar with the culture and spoke fluent English, so I thought I was prepared.

    Resuming my career as a physician in the U.S. was arduous, but I finally passed all the qualifying exams and completed a psychiatry residency at Michigan State University in 2006. After finishing my studies, I stayed on as faculty.

    Of course, there is nothing new or particularly unique about my family’s experience. Immigration, whether it is out of choice or forced by conflict, has always been part of the American experience. After all, the U.S. Constitution was signed by seven first-generation immigrants.

    Experts will tell you that immigration makes our country stronger economically, culturally and in fields like science and medicine. Since I’m a doctor, I’m well aware that 26% of licensed U.S. physicians and surgeons are immigrants.

    But it is also true that immigrants like me face stresses that harm our
    psychical and mental health.

    I teach cultural psychiatry to medical students and residents, specifically how to provide culturally appropriate care to Muslim patients. After more than 20 years in Michigan, I’m deeply rooted in the Muslim and immigrant community, and I’ve seen firsthand how anxious and uncertain my community is about the 2024 presidential election.

    Panic attacks and depression

    Republican presidential candidate Donald Trump has called immigrants “bloodthirsty criminals” and the “most violent people on Earth.” He claims that immigrants were “poisoning the blood of our country.” Research shows, and I’ve seen personally, how this kind of talk can cause anxiety and depression in immigrants both undocumented and legal.

    Undocumented immigrants and their families, who live in precarious conditions and in fear of being deported, are especially vulnerable to Trump’s calls for mass deportations.

    History has taught us that a politician’s hateful words can lead to violence.

    In the first half of 2024, the Michigan Chapter of the Council on American-Islamic Relations documented 239 complaints of discrimination against Muslims, an 81% increase over the same period in 2023. In the report, CAIR-MI Executive Director Dawud Walid attributed the uptick to “policies of elected officials, rhetoric of candidates running for office, along with victim blaming by some political pundits.”

    Adding to the situation are the deepening crises in the Gaza Strip and Lebanon, which are making Muslims in Michigan, especially those with relatives in the Middle East, reel with palpable grief.

    This rise in Islamophobia and fear of an uncertain future is taking a toll. American Muslims are twice as likely to attempt suicide compared with people from other faiths.

    Anxiety in the voting booth

    Like 73% of all Americans, immigrants are anxious about the election.

    With the politicization of baseless claims of undocumented immigrants voting, the fact is that naturalized citizens – who have every right to take part in the election – are a formidable voting bloc, making up 1 in 10 of the nation’s eligible voters and about 5% in Michigan.

    What’s more, naturalized citizens tend to vote at higher rates than native-born citizens.

    Still, for many Muslims in Michigan, it is hard to know how to vote this year. I don’t trust either of the major parties.

    Michigan’s Muslims are feeling devalued and disenfranchised.

    A key Arab American political action committee based in Michigan refused to endorse either candidate this cycle. Although the PAC typically backs Democrats, this year it said “neither candidate represents our hopes and dreams as Arab Americans.”

    In late September, a national group of three dozen Muslim American scholars and imams signed an open letter calling on Muslims not to vote for Democratic nominee Kamala Harris.

    “We want to be absolutely clear,” the letter reads, “don’t stay home and skip voting. This year, make a statement by voting third party for the presidential ticket.”

    A group called Listen to Michigan gained attention during the primaries by attracting more than 100,000 people to vote “uncommitted” as a protest against President Joe Biden’s funding of the war in Gaza. The group has stopped short of endorsing Harris but urged voters “not to cast their ballot for anyone but her.”

    Still, some of my neighbors have decided to back Green Party candidate Jill Stein.

    I know my vote is my voice, and I fully intend to participate in the electoral process. But I can’t trust any of the candidates to create a safe haven for my family – a place where my daughters and I can thrive and live our American dream.

    Farha Abassi does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. I’m a Muslim immigrant and a psychiatrist living in Michigan – I haven’t decided how to vote yet – https://theconversation.com/im-a-muslim-immigrant-and-a-psychiatrist-living-in-michigan-i-havent-decided-how-to-vote-yet-241333

    MIL OSI – Global Reports –

  • MIL-OSI Global: How can Jupiter have no surface? A dive into a planet so big, it could swallow 1,000 Earths

    Source: The Conversation – USA – By Benjamin Roulston, Assistant Professor of Physics, Clarkson University

    A photo of Jupiter taken by NASA’s Juno spacecraft in September 2023. NASA/JPL-Caltech/SwRI/MSSS, image processing by Tanya Oleksuik

    Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to curiouskidsus@theconversation.com.

    Why does Jupiter look like it has a surface – even though it doesn’t have one? – Sejal, age 7, Bangalore, India

    The planet Jupiter has no solid ground – no surface, like the grass or dirt you tread here on Earth. There’s nothing to walk on, and no place to land a spaceship.

    But how can that be? If Jupiter doesn’t have a surface, what does it have? How can it hold together?

    Even as a professor of physics who studies all kinds of unusual phenomena, I realize the concept of a world without a surface is difficult to fathom. Yet much about Jupiter remains a mystery, even as NASA’s robotic probe Juno begins its ninth year orbiting this strange planet.

    Jupiter’s mass is two-and-a-half times that of all the other planets in the solar system combined.

    First, some facts

    Jupiter, the fifth planet from the Sun, is between Mars and Saturn. It’s the largest planet in the solar system, big enough for more than 1,000 Earths to fit inside, with room to spare.

    While the four inner planets of the solar system – Mercury, Venus, Earth and Mars – are all made of solid, rocky material, Jupiter is a gas giant with a composition similar to the Sun; it’s a roiling, stormy, wildly turbulent ball of gas. Some places on Jupiter have winds of more than 400 mph (about 640 kilometers per hour), about three times faster than a Category 5 hurricane on Earth.

    A photo of the southern hemisphere of Jupiter, taken by NASA’s Juno spacecraft in 2017.
    NASA/JPL-Caltech/SwRI/MSSS/Gerald Eichstadt/Sean Doran

    Searching for solid ground

    Start from the top of Earth’s atmosphere, go down about 60 miles (roughly 100 kilometers), and the air pressure continuously increases. Ultimately you hit Earth’s surface, either land or water.

    Compare that with Jupiter: Start near the top of its mostly hydrogen and helium atmosphere, and like on Earth, the pressure increases the deeper you go. But on Jupiter, the pressure is immense.

    As the layers of gas above you push down more and more, it’s like being at the bottom of the ocean – but instead of water, you’re surrounded by gas. The pressure becomes so intense that the human body would implode; you would be squashed.

    Go down 1,000 miles (1,600 kilometers), and the hot, dense gas begins to behave strangely. Eventually, the gas turns into a form of liquid hydrogen, creating what can be thought of as the largest ocean in the solar system, albeit an ocean without water.

    Go down another 20,000 miles (about 32,000 kilometers), and the hydrogen becomes more like flowing liquid metal, a material so exotic that only recently, and with great difficulty, have scientists reproduced it in the laboratory. The atoms in this liquid metallic hydrogen are squeezed so tightly that its electrons are free to roam.

    Keep in mind that these layer transitions are gradual, not abrupt; the transition from normal hydrogen gas to liquid hydrogen and then to metallic hydrogen happens slowly and smoothly. At no point is there a sharp boundary, solid material or surface.

    An illustration of Jupiter’s interior layers. One bar is approximately equal to the air pressure at sea level on Earth.
    NASA/JPL-Caltech

    Scary to the core

    Ultimately, you’d reach the core of Jupiter. This is the central region of Jupiter’s interior, and not to be confused with a surface.

    Scientists are still debating the exact nature of the core’s material. The most favored model: It’s not solid, like rock, but more like a hot, dense and possibly metallic mixture of liquid and solid.

    The pressure at Jupiter’s core is so immense that it would be like 100 million Earth atmospheres pressing down on you – or two Empire State buildings on top of each square inch of your body.

    But pressure wouldn’t be your only problem. A spacecraft trying to reach Jupiter’s core would be melted by the extreme heat – 35,000 degrees Fahrenheit (20,000 degrees Celsius). That’s three times hotter than the surface of the Sun.

    An image taken of Jupiter by Voyager 1. Note the Great Red Spot, a storm large enough to hold three Earths.
    NASA/JPL

    Jupiter helps Earth

    Jupiter is a weird and forbidding place. But if Jupiter weren’t around, it’s possible human beings might not exist.

    That’s because Jupiter acts as a shield for the inner planets of the solar system, including Earth. With its massive gravitational pull, Jupiter has altered the orbit of asteroids and comets for billions of years.

    Without Jupiter’s intervention, some of that space debris could have crashed into Earth; if one had been a cataclysmic collision, it could have caused an extinction-level event. Just look at what happened to the dinosaurs.

    Maybe Jupiter gave an assist to our existence, but the planet itself is extraordinarily inhospitable to life – at least, life as we know it.

    The same is not the case with a Jupiter moon, Europa, perhaps our best chance to find life elsewhere in the solar system.

    NASA’s Europa Clipper, a robotic probe launching in October 2024, is scheduled to do about 50 fly-bys over that moon to study its enormous underground ocean.

    Could something be living in Europa’s water? Scientists won’t know for a while. Because of Jupiter’s distance from Earth, the probe won’t arrive until April 2030.

    Hello, curious kids! Do you have a question you’d like an expert to answer? Ask an adult to send your question to CuriousKidsUS@theconversation.com. Please tell us your name, age and the city where you live.

    And since curiosity has no age limit – adults, let us know what you’re wondering, too. We won’t be able to answer every question, but we will do our best.

    Benjamin Roulston does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. How can Jupiter have no surface? A dive into a planet so big, it could swallow 1,000 Earths – https://theconversation.com/how-can-jupiter-have-no-surface-a-dive-into-a-planet-so-big-it-could-swallow-1-000-earths-231901

    MIL OSI – Global Reports –

  • MIL-OSI: TRILLION ENERGY PROVIDES UPDATE ON SASB VS INSTALLATION

    Source: GlobeNewswire (MIL-OSI)

    Vancouver, B.C. , Nov. 04, 2024 (GLOBE NEWSWIRE) — Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to provide an update on the velocity string installation program at the SASB gas field.

    On October 27th the snubbing unit was positioned over the Akcakoca-3 well where 2 3/8” production tubing (“velocity string” or “VS”) was ran into the well through the existing 4 ½ tubing. The operation was completed on October 29th. The well continued to flow throughout the operation.

    Following the VS installation, Akcakoca-3 production increased from approximately 2.0 MMcf/d (average production for the 27 days prior to installation) to 2.6 MMcf/d (average production first 4 days post VS). We continue to monitor production from the well at this time.

    On October 30th, 2024 a 2 3/8th velocity string was ran into the West Akcakoca-1 well using the snubbing unit. The operation was completed by November 1st, where the velocity string reached a total measured depth (MD) of 3,496 meters. The West Akcakoca-1 well was not producing prior to the operation and gas production is expected to resume following nitrogen stimulation being applied.

    Currently, VS is being run into the Guluc-2 well. The velocity strings are being installed with the objective of reducing water loading issues in the SASB gas wells.

     About the Company

    Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. More information may be found on www.sedar.com, and our website.

    Contact

    Arthur Halleran, Chief Executive Officer
    ‎Brian Park, Vice President of Finance
    1-778-819-1585
    e-mail: info@trillionenergy.com;
    Website: www.trillionenergy.com

    Cautionary Statement Regarding Forward-Looking Statements

    This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company’s ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.

    These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company’s filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our reserves report effective December 31, 2022 and updated January 31 2023.

    The MIL Network –

  • MIL-OSI: Point Predictive Partners with OTTOMOTO® to Deliver Advanced Fraud Prevention, Income, and Employment Validation Solutions to Auto Dealers Nationwide

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Nov. 04, 2024 (GLOBE NEWSWIRE) — Point Predictive, the leader in AI solutions for fraud prevention, today announced a strategic partnership with OTTOMOTO® to integrate its advanced fraud detection and income & employment validation solutions into their comprehensive platform.

    With auto lending fraud reaching nearly $8 billion last year, dealers and lenders face mounting challenges from synthetic identities and credit-washing schemes as well as income & employment misrepresentation. Lenders are increasingly finding and pushing back defaulted fraudulent loans to dealers. Dealers are struggling to absorb the pushbacks. Both dealers and lenders are looking for ways to stop fraud at dealerships before it even gets to the lenders.

    The integration with Point Predictive’s IEValidate™, BorrowerCheck™ and DealerCheck™ solutions means that OTTOMOTO® dealers and lenders will have turnkey access to the most advanced identity, income, and employment validation services available. DealerCheck will also help lenders and dealership owners monitor loan application processes and ensure that fraud checks are in place and that risk remains low.

    “Helping dealers and lenders address the nearly $8 billion in fraud hitting the auto industry is our priority,” said Tim Grace, CEO of Point Predictive. “By working with state-of-the-art platforms like OTTOMOTO®, we can provide turnkey access to thousands of dealerships and lenders to stop the majority of the loan pushbacks. With the integration, they can detect and prevent fraud they are missing today, reduce false positives from their current red flag tools, and validate income in real-time without using pay stubs or bank statements, enabling an easier process for dealers.”

    The Best Platform Delivering a Better Way to Manage All Risk

    Through the OTTOMOTO® platform, dealers and lenders will gain immediate access to Point Predictive’s solutions to stop more fraud and streamline their most critical and time-consuming verification processes.

    OTTOMOTO® customers will have access to:

    IEValidate – Validate Income and Employment Without the Hassle of Pay Stubs

    With IEValidate, dealers and lenders can eliminate requests for pay stubs, which are difficult for an applicant to provide and are often forged. IEValidate is easier, faster, and more reliable, which means less work for everyone, including the applicant. In less than 1 second, a dealership can receive a full report on an applicant’s income and employment history. In addition, IEValidate confirms that the employer is not one of the 11,000 fake employers that we have identified as being used on fraudulent applications in the U.S. today.

    BorrowerCheck – Stop Pushbacks and Eliminate Credit Bureau Interview Questions

    No more unexpected pushbacks. BorrowerCheck eliminates dated red-flag checks which are often inaccurate and take too much time to review. New alerts provide clear direction on where the risk is, and how to resolve it quickly.

    The solution also replaces antiquated Credit Bureau Interview Questions that can take 5 minutes or more to complete. Instead of those questions, BorrowerCheck provides SMS-based verification, which can be completed in less than 20 seconds. The solution works better and is faster than existing red flag tools used by dealers.

    DealerCheck – Dashboards to Enable Better Partnership with Lenders

    With DealerCheck, lenders and dealers get information that helps them track growing risks to avoid pushbacks and make smarter decisions about working together.

    DealerCheck lets dealers and lenders:

    • See detailed reports about their dealers
    • Compare their dealer’s performance to other dealers
    • Spot trending of high-risk applications before they become big issues
    • Make smarter decisions, optimize stipulations and discounts, improve watchlist and working relationships with dealers

    All Powered by Data

    The new solutions available to OTTOMOTO®’s customers are driven by Point Predictive’s data which is unlike any data from a credit bureau. With over 269 million reported incomes and information on 22 million employers in the U.S., dealers get access to real history that enables automation to modernize a dealer’s operations and sell more cars faster.

    “OTTOMOTO® is dedicated to streamlining the auto retail finance process,” said Paul Nicholas, CEO at OTTOMOTO®. “Integrating Point Predictive’s advanced solutions gives our dealers the tools to close deals faster while protecting their businesses from fraud.”

    For more information on the Point Predictive and OTTOMOTO® partnership, please get in touch with Justin Davis at jdavis@pointpredictive.com.

    About Point Predictive

    Headquartered in San Diego, California, Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as pay stubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers get loans faster, and lenders realize an increased bottom line. For more information, please visit pointpredictive.com.
    Click here to partner with Point Predictive.

    About OTTOMOTO®

    OTTOMOTO® is a premier provider of lending technology for the auto, RV, Powersports, Marine, and aircraft industries. Focused on digital innovation, OTTOMOTO® is redefining traditional financing practices with a secure, transparent, and compliant process that benefits dealers, lenders, and consumers. With strategic partnerships and decades of industry expertise, OTTOMOTO® is committed to advancing the future of finance through cutting-edge technology solutions.
    Click here to partner with OTTOMOTO®.

    The MIL Network –

  • MIL-OSI: Southside Bancshares, Inc. Announces Transfer of Listing of Common Stock to the New York Stock Exchange

    Source: GlobeNewswire (MIL-OSI)

    TYLER, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (NASDAQ: SBSI) (the “Company” or “Southside”), the parent company of Southside Bank, announced today that it is transferring the listing of its common stock to the New York Stock Exchange (“NYSE”) from the Nasdaq Global Select Market (“Nasdaq”). Southside’s common stock is expected to begin trading on the NYSE on November 15, 2024, under the existing ticker symbol of “SBSI”. Southside expects its common stock to continue to trade on Nasdaq until the close of the market on November 14, 2024.

    “We are excited to announce the transfer of Southside’s stock listing to the NYSE,” said Lee R. Gibson, Chief Executive Officer of Southside Bancshares, Inc. “Our Texas-based franchise markets include some of the strongest and fastest growing markets in the country. We look forward to joining many of the world’s leading and most prestigious companies that trade on the NYSE and are excited to leverage the NYSE platform and trading model for the benefit of our shareholders.”

    Since its initial public offering on Nasdaq in 1998, Southside Bancshares has seen continuous and significant growth – surpassing $1 billion in assets in the year 2000 and reaching nearly $8.5 billion in assets by the end of 2023. Beginning with a single branch in Tyler, Texas, the bank has grown to over 55 locations including 53 branches and two loan offices throughout East, North, Central, and Southeast Texas.

    “We are thrilled to welcome Southside Bancshares, Inc. to the New York Stock Exchange,” said Chris Taylor, Global Head of Listings, NYSE. “With its deep roots in Texas and history of supporting local economies, Southside is a welcome addition to our NYSE community, which is home to numerous Texas-based companies and many of the world’s leading banks.”

    ABOUT SOUTHSIDE BANCSHARES, INC.

    Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $8.36 billion in assets. Through its wholly-owned subsidiary, Southside Bank, Southside currently operates 53 branches, two loan production offices, and a network of 72 ATMs/ITMs throughout East Texas, Southeast Texas, Dallas/Fort Worth and Austin. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, treasury management, wealth management, trust services, brokerage services, and an array of online and mobile services. For more information about Southside Bank, visit https://www.southside.com/.

    Contact:
    Julie Shamburger
    Chief Financial Officer
    903-531-7134

    The MIL Network –

  • MIL-OSI Canada: Canada brings international leadership ambition on nature and biodiversity to COP16 in Cali, Colombia

    Source: Government of Canada News

    On behalf of Canada and the Honourable Steven Guilbeault, Minister of Environment and Climate Change, the Canadian delegation worked diligently—through negotiations, bilateral discussions, and side events—to bring countries together to advance the implementation of the 23 targets for 2030 laid out in the Kunming–Montréal Global Biodiversity Framework

    November 4, 2024 – Cali, Colombia

    Canada is known for its rich biodiversity and extraordinary natural beauty and takes pride in playing a leadership role in global nature recovery. At the conclusion of the 16th United Nations Biodiversity Conference (COP16) in Cali, Colombia, Canada continued to actively work with international partners toward halting and reversing the biodiversity crisis and advocating for ambitious action to protect nature.

    On behalf of Canada and the Honourable Steven Guilbeault, Minister of Environment and Climate Change, the Canadian delegation worked diligently—through negotiations, bilateral discussions, and side events—to bring countries together to advance the implementation of the 23 targets for 2030 laid out in the Kunming–Montréal Global Biodiversity Framework. They also worked to identify ways to address the key drivers of biodiversity loss, such as pollution, climate change, and overexploitation of nature. Canada and its fellow Nature Champions pushed for the conservation of 30 percent of land and water by 2030 and reaffirmed the importance of respecting the rights and roles of Indigenous peoples.

    After significant collaboration with National Indigenous Organizations and international Indigenous bodies, COP16 successfully established a permanent Indigenous subsidiary body, the first of its kind in any of the UN Rio conventions. Canada welcomes this historic step forward for giving a voice to Indigenous peoples in the UN process.

    The COP also established a multilateral mechanism on digital sequence information aimed at enhancing access and benefit sharing for communities and traditional knowledge holders of biodiversity.

    In addition to these two historic achievements, this COP adopted a program of work to integrate nature and climate change actions. After years of work, countries also endorsed work on ecologically significant marine areas.

    Canada supports the need to mobilize international biodiversity funding. Despite efforts, countries were unable to reach an agreement on critical issues, such as resource mobilization. Canada remains determined to engage with countries and non-state actors at the next opportunity to address these gaps and remains committed to working with Parties to finalize an ambitious strategy.

    In addition to driving ambition in international negotiations, at COP16 Canada:

    • Announced a total of $62 million for seven projects working to protect biodiversity around the world. The projects will support gender-inclusive initiatives and Indigenous-led projects for vulnerable communities to build a stronger, more sustainable future; fight climate change; protect nature; and support resilient local economies.
    • Brought the Nature Champions Network together, with increased membership, and encouraged rapid global biodiversity action through effective implementation of respective national biodiversity strategies.
    • Led two panels in partnership with the Indigenous Leadership Initiative to highlight the importance of collaboration with Indigenous peoples and the success of Indigenous-led conservation and stewardship in Canada. Indigenous Guardians initiatives are crucial to ensuring the sustainability of our planet for current and future generations, and innovative financing models, like the project finance for permanence, are empowering this vital work.
    • Joined the ‘Declaration of the World Coalition for Peace with Nature’, a call for action to enhance national and international efforts and commitments toward achieving a balanced and harmonious relationship with nature.
    • Joined the ‘Mainstreaming Champions Group’, an initiative launched at COP16 to accelerate progress on mainstreaming biodiversity across sectors to help achieve the Global Biodiversity Framework’s mission, goals and targets.

    Backed by over $12 billion in investments since 2015, the Government of Canada has led the largest campaign in Canadian history to support nature and nature-based climate solutions, with the goal of protecting 30 percent of land and water by 2030 and conserving species at risk, in full partnership with provinces, territories, and Indigenous peoples.   

    • COP16 was held in Cali, Colombia, from October 21 to November 1, 2024.

    • Both the 2030 Nature Strategy and the Nature Accountability Bill provide a roadmap for collaboration across all levels of government and with Indigenous peoples in the development and implementation of measures aimed at meeting Kunming–Montréal Global Biodiversity Framework and related Convention on Biological Diversity commitments.

    • The Nature Champions Network is a ministerial-level group launched by Canada that focuses on fostering international awareness and understanding of the global biodiversity framework. 

    • At COP15, Prime Minister Justin Trudeau announced $350 million in funding to support developing countries in advancing biodiversity efforts and to support the implementation of the Kunming–Montréal Global Biodiversity Framework.

    • Indigenous-led conservation is proven to help land, water, and communities thrive, and it is central to Canada’s plan to protect 30 percent of our land and water by 2030.

    • In recent years, the Government of Canada has made historic investments in Indigenous-led conservation projects, including through initiatives like the Indigenous Guardians Program.

    • Project finance for permanence provides multi-partner investments and sustainable financing for large-scale conservation and sustainable development projects. These initiatives bring together Indigenous organizations, governments, and the philanthropic community to identify shared goals for protecting nature and ultimately halting biodiversity loss while advancing community well-being and reconciliation with Indigenous peoples.

    • In 2022, during COP15, Prime Minister Justin Trudeau pledged to deliver up to $800 million in support of up to four Indigenous-led project finance for permanence initiatives, including the Great Bear Sea Project Finance for Permanence.

    • The Great Bear Sea Project Finance for Permanence agreement was officially established in June 2024. Work is underway to finalize the remaining projects over the coming year.

    Hermine Landry
    Press Secretary
    Office of the Minister of Environment and Climate Change
    873-455-3714
    Hermine.Landry@ec.gc.ca

    Media Relations
    Environment and Climate Change Canada
    819-938-3338 or 1-844-836-7799 (toll-free)
    media@ec.gc.ca

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: EA re-opens initial consultation for Swadlincote incinerator

    Source: United Kingdom – Executive Government & Departments

    On 1 November 2024 the Environment Agency re-opened the initial consultation into an environmental permit application for an incinerator near Swadlincote.

    • Environment Agency re-opens initial consultation on plans for proposed site in Keith Willshee Way
    • Consultation to run from 1 November to 13 December 2024
    • Environment Agency will consider issues around any likely impact on human health and environment

    Due to the high level of public interest associated with the site, the Environment Agency is re-opening the initial public consultation. The initial public consultation, ran between 28 June 2024 and 2 September 2024.

    R&P Clean Power Limited has applied for the permit to operate an incinerator on Keith Willshee Way, Swadlincote DE11 9EN. The company has also separately applied to Derbyshire County Council for planning.

    The company wants to incinerate up to 230,000 tonnes of non-hazardous waste each year in an incinerator known as an Energy from Waste Facility.

    The proposed facility will incinerate waste to produce energy in the form of electricity. Electricity from this process will be exported to the National Grid.

    An environmental permit sets the conditions which R&P Clean Power Limited must meet when operating the proposed incinerator.  It covers the management and operation of the site and the control and monitoring of emissions.

    Issues that we consider in deciding on the permit are: 

    • Relevant environmental regulatory requirements and technical standards.
    • Information on local population and sensitive sites.
    • Protection of human and environmental health.
    • Comments on whether the right process is being used for the activity, for example, whether the technology is appropriate.
    • Pollution control and any emissions to air, land and water.
    • Whether energy generated by waste incineration is recovered as much as possible.
    • Handling and storage of waste.
    • The impact of noise and odour from vehicle movements on site.
    • Plans to deal with litter and vermin on site.
    • Any permit conditions that may be needed.

    The Environment Agency will consult with partner organisations, including the UK Health Security Agency, as part of the process.  

    Issues such as suitability of the site, operating hours and traffic management to and from it, are matters for the planning authority, not the Environment Agency.

    The Environment Agency can only consider issues covered by the environmental permit and can only refuse a permit application based on technical information.  

    However, in order to build and operate the proposed incinerator, the company will need to be granted both planning permission and an environmental permit.

    To obtain an environmental permit, the company will need to show they are putting in place the necessary measures to meet current standards to protect human health and the environment. In addition, they must explain how any risks that are identified, such as odour and emissions, are prevented or minimised, alongside producing a Fire Prevention Plan.

    Once the consultation closes, the Environment Agency will review all the comments received before reaching a draft decision. R&P Clean Power Limited has the right to appeal if the permit is refused.

    If the Environment Agency thinks it is likely to issue the permit, it will consult again on the draft permit and draft decision document. This means the public will be able comment again if they feel that there is additional information that we have not considered in our decision.  

    If you wish to make comments about the application, please do so by 13 December 2024.

    You can comment by:

    • Visiting our online Citizen Space web page:

     DE11 9EN, R&P CLEAN POWER LIMITED, EPR/LP3327SK/A001: environmental permit consultation – Environment Agency – Citizen Space

    If you need help accessing this consultation in another format please contact us by emailing: PSCpublicresponse@environment-agency.gov.uk or calling 03708 506 506.

    Please use the application number LP3327SK/A001

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Financial news: Three Federal Treasury deposit auctions will take place on 11/05/2024

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    Application selection parameters
    Date of the selection of applications 05.11.2024
    Unique identifier of the application selection 22024570
    Deposit currency rubles
    Type of funds funds of the single treasury account
    Maximum amount of funds placed in bank deposits, million monetary units 1,100,000
    Placement period, in days 2
    Date of deposit 05.11.2024
    Refund date 07.11.2024
    Interest rate for placement of funds (fixed or floating) FIXED
    Minimum fixed interest rate for placement of funds, % per annum 20.05
    Basic floating interest rate for placement of funds –
    Minimum spread, % per annum –
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Urgent
    Minimum amount of funds placed for one application, million monetary units 1,000
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Open
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 09:30 to 09:40
    Pre-applications: from 09:30 to 09:35
    Applications in competition mode: from 09:35 to 09:40
    Formation of a consolidated register of applications: from 09:40 to 09:50
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 09:40 to 10:00
    Submission of an offer to credit institutions to conclude a bank deposit agreement: from 10:00 to 11:00
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 10:00 to 11:00
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n
    Application selection parameters
    Date of the selection of applications 05.11.2024
    Unique identifier of the application selection 22024571
    Deposit currency rubles
    Type of funds funds of the single treasury account
    Maximum amount of funds placed in bank deposits, million monetary units 20,000
    Placement period, in days 182
    Date of deposit 05.11.2024
    Refund date 05/06/2025
    Interest rate for placement of funds (fixed or floating) FLOATING
    Minimum fixed interest rate for placement of funds, % per annum –
    Basic floating interest rate for placement of funds RUONmDS
    Minimum spread, % per annum 0.00
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Urgent
    Minimum amount of funds placed for one application, million monetary units 1,000
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Open
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 12:30 to 12:40
    Preliminary applications: from 12:30 to 12:35
    Applications in competition mode: from 12:35 to 12:40
    Formation of a consolidated register of applications: from 12:40 to 12:50
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 12:40 to 13:00
    Submission of an offer to credit institutions to conclude a bank deposit agreement: from 13:00 to 14:00
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 13:00 to 14:00
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n

    RUONmDS = RUONIA – DS, where

    RUONIA – the value of the indicative weighted rate of overnight ruble loans (deposits) RUONIA, expressed in hundredths of a percent, published on the official website of the Bank of Russia on the Internet on the day preceding the day for which interest is accrued. In the absence of a RUONIA rate value published on the day preceding the day for which interest is accrued, the last of the published RUONIA rate values is taken into account.

    DS – discount – a value expressed in hundredths of a percent and rounded (according to the rules of mathematical rounding) to two decimal places, calculated by multiplying the value of the Key Rate of the Bank of Russia by the value of the required reserve ratio for other liabilities of credit institutions for banks with a universal license, non-bank credit institutions (except for long-term ones) in the currency of the Russian Federation, valid on the date for which interest is accrued, and published on the official website of the Bank of Russia on the Internet.

    Application selection parameters
    Date of the selection of applications 05.11.2024
    Unique identifier of the application selection 12024001
    Deposit currency rubles
    Type of funds funds of the single account of the federal budget
    Maximum amount of funds placed in bank deposits, million monetary units 50,000
    Placement period, in days 35
    Date of deposit 06.11.2024
    Refund date 12/11/2024
    Interest rate for placement of funds (fixed or floating) FLOATING
    Minimum fixed interest rate for placement of funds, % per annum –
    Basic floating interest rate for placement of funds RUONmDS
    Minimum spread, % per annum 0.00
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Urgent
    Minimum amount of funds placed for one application, million monetary units 1,000
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Open
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 15:30 to 15:40
    Pre-applications: from 15:30 to 15:35
    Applications in competition mode: from 15:35 to 15:40
    Formation of a consolidated register of applications: from 15:40 to 15:50
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 15:40 to 16:00
    Submission to credit institutions of an offer to conclude a bank deposit agreement: from 16:00 to 17:00
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 16:00 to 17:00
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n

    RUONmDS = RUONIA – DS, where

    RUONIA – the value of the indicative weighted rate of overnight ruble loans (deposits) RUONIA, expressed in hundredths of a percent, published on the official website of the Bank of Russia on the Internet on the day preceding the day for which interest is accrued. In the absence of a RUONIA rate value published on the day preceding the day for which interest is accrued, the last of the published RUONIA rate values is taken into account.

    DS – discount – a value expressed in hundredths of a percent and rounded (according to the rules of mathematical rounding) to two decimal places, calculated by multiplying the value of the Key Rate of the Bank of Russia by the value of the required reserve ratio for other liabilities of credit institutions for banks with a universal license, non-bank credit institutions (except for long-term ones) in the currency of the Russian Federation, valid on the date for which interest is accrued, and published on the official website of the Bank of Russia on the Internet.

    Contact information for media 7 (495) 363-3232PR@moex.com

    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.

    https://www.moex.com/n74548

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: FEHD highly concerned about illegal sale of food such as meat by unlicensed hawkers

    Source: Hong Kong Government special administrative region

    FEHD highly concerned about illegal sale of food such as meat by unlicensed hawkers
    FEHD highly concerned about illegal sale of food such as meat by unlicensed hawkers
    ***********************************************************************************

         In response to a media report on the illegal sale of food items like meat by unlicensed hawkers on Tak Tai Path, Kwai Chung, a spokesman for the Food and Environmental Hygiene Department (FEHD) today (November 4) said that the department has deep concern and has taken prompt action to combat these illegal acts in order to safeguard public health and food safety.     The FEHD spokesman said that during an enforcement operation in August this year, the FEHD staff arrested an unlicensed hawker for selling frozen meat and sushi illegally. In addition, they arrested three unlicensed hawkers for selling second-hand goods at the same location last week. To prevent similar irregularities, the FEHD has strengthened inspections at the location. Furthermore, the FEHD will organise special operations and conduct blitz inspections at locations across the territory that have frequent illegal hawking activities. The FEHD will take stringent enforcement actions against the illegal sale of food by hawkers. The FEHD also encourages members of the public to report hawkers selling suspicious food to the department.     The spokesman emphasised that under the Food Business Regulation (Cap. 132X), any person who sells restricted food (including frozen meat, sashimi and sushi) without permission commits an offence and is liable to a maximum fine of $50,000 and six months’ imprisonment upon conviction. No one should defy the law. The spokesman reminded members of the public that consuming food from unknown sources and expired food, particularly high-risk food like meat, sashimi and sushi, may pose serious food safety risks. Members of the public should refrain from patronising illegal hawkers when purchasing any food. 

     
    Ends/Monday, November 4, 2024Issued at HKT 22:26

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: SBA Business Recovery Centers in Georgia to Close for Election Day

    Source: United States Small Business Administration

    Business Recovery Centers in Georgia, on Tuesday, Nov. 5 and Wednesday, Nov.6 in observance of Election Day.  The Centers will resume normal operations on Thursday, Nov. 7.
    “SBA’s Business Recovery Centers are a cornerstone of our support for business owners,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “At these centers, business owners can meet face-to-face with specialists to apply for disaster loans and access ATLANTA – The U.S. Small Business Administration (SBA) announced today it will temporarily close its a wide range of resources to guide them through their recovery.”

    Customer Service Representatives at SBA’s Business Recovery Centers can assist applicants complete their disaster loan application, accept documents for existing applications, and provide updates on an application’s status. Walk-ins are accepted, but you can schedule an in-person appointment at an SBA Disaster Recovery Center in advance. The centers will operate as indicated below until further notice.

    Business Recovery Center (BRC)
    Lowndes County 
    Turner Center for the Arts, Art Annex
    601 North Patterson Street
    Valdosta, GA 31601
    Hours:         Monday – Friday, 9 a.m. to 6 p.m.
                          Saturday, 9 a.m. to 4 p.m.
    Closed:       Sunday
    Closed:      Tuesday and Wednesday, Nov. 5-6 for Election Day 

     Business Recovery Center (BRC)
    Richmond County 
    CSRA Regional Commission
    3626 Walton Way Ext , Suite 1  
    Augusta, GA 30909
    Hours:         Monday – Friday, 9 a.m. to 6 p.m.
                          Saturday, 9 a.m. to 4 p.m.
    Closed:        Sunday

     Business Recover Center (BRC) 
    Chatham County
    Savannah Entrepreneurial Center
    801 E Gwinnett St  
    Savannah, GA 31404
    Hours:        Monday – Friday, 8 a.m. to 5 p.m.
                          Saturday, 10 a.m. to 4 p.m.
    Closed:       Sunday
    Closed:      Tuesday and Wednesday, Nov. 5-6 for Election Day 

     Business Recovery Center (BRC)
    Richmond County 
    CSRA Regional Commission
    3626 Walton Way Ext , Suite 1  
    Augusta, GA 30909
    Hours:         Monday – Friday, 9 a.m. to 6 p.m.
                          Saturday, 9 a.m. to 4 p.m.
    Closed:        Sunday

    Portable Loan Outreach Center (PLOC) 
    Richmond County

    Behind Parker’s Kitchen 
    4104 Windsor Spring Rd 
    Hephzibah, GA 30815

    Opening:   Monday, Nov. 4, 1 p.m. to 6 p.m. 
    Hours:        Monday – Friday, 9 a.m. to 6 p.m. 
                       Saturday, 9 a.m. to 4 p.m. 
    Closed:       Sunday 
    Closed:       Tuesday and Wednesday, Nov. 5-6
                         for Election Day 

       Business Recovery Center (BRC) 
    Richmond County 
    CSRA Regional Commission 
    3626 Walton Way Ext , Suite 1 
    Augusta, GA 30909

    Hours:        Monday – Friday, 9 a.m. to 6 p.m. 
                       Saturday, 9 a.m. to 4 p.m. 
    Closed:       Sunday 
    Closed:       Tuesday and Wednesday, Nov. 5-6
                         for Election Day

    Business Recover Center (BRC) 
    Bulloch County
    Eastern Heights Baptist Church
    23805 US Hwy 80 E
    Statesboro, GA 30461
    Hours:        Monday – Friday, 8 a.m. to 5 p.m.
                          Saturday, 10 a.m. to 4 p.m.
    Closed:      Sunday
    Closed:      Tuesday and Wednesday, Nov. 5-6 
                         for Election Day

    On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

    Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.

    With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover.  FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition. Do not wait on the decision for a FEMA grant; apply online and receive additional disaster assistance information at sba.gov/disaster.

    Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
    The filing deadline to return applications for physical property damage is Nov. 25, 2024, for Tropical Storm Debby and Nov. 29, 2024, for Hurricane Helene. The deadline to return economic injury applications is June 24, 2025, for Tropical Storm Debby and June 30, 2025, for Hurricane Helene. 
    ###
    About the U.S. Small Business Administration 
    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI Canada: Manitoba Government Releases Strategy to Secure Province’s Mineral Future

    Source: Government of Canada regional news

    November 4, 2024

    Manitoba Government Releases Strategy to Secure Province’s Mineral Future

    – – –
    Responsible Mining, Opportunity Ready: Mineral Powerhouse Strategy Sets Path Forward to Spur Mineral Economic Growth: Moses, Bushie

    The Manitoba government has released its Securing Our Critical Mineral Future strategy to stand up critical minerals projects faster, while respecting the environment and forming strong Indigenous partnerships, Economic Development, Investment, Trade and Natural Resources Minister Jamie Moses and Municipal and Northern Relations and Indigenous Economic Development Minister Ian Bushie announced today. 

    “This Critical Minerals Strategy will solidify Manitoba as a world leader in responsible mineral development – which in turn brings good jobs to Manitoba,” said Moses. “No matter the result of tomorrow’s US election, our strategy will ensure Manitoba is a secure and responsible trade partner for years to come.” 

    Home to 30 of 34 critical minerals identified by the federal government as critical for promoting green energy and sustainable economic success, Manitoba is positioned to supply the materials needed to power the North American low-carbon economy, noted Moses. The strategy aims to attract investment and create good jobs in Manitoba. Key actions include the creation of a dedicated, single window Critical Mineral Office, investments in high-priority regional infrastructure projects and the development of a provincial revenue-sharing model for mining in partnership with Indigenous nations. 

    “Indigenous and northern communities can be the backbone to a successful mining sector, setting those communities and the Manitoba economy on the best path forward,” said Bushie. “By taking a nation-to-nation approach, this strategy will unlock the benefits of critical minerals for Indigenous nations through healthy resource development. This strategy will ensure Indigenous Peoples’ voices are heard and that they receive fairer financial value within the resource sector in order to advance economic reconciliation.” 

    “Manitoba needs to get new mines brought online faster,” said John Morris, co-director, Mining Association of Manitoba Inc. (MAMI). “MAMI agrees that by streamlining policy and regulation, permitting will improve with the new single-desk Critical Minerals Office. MAMI looks forward to working with the Province of Manitoba as we develop many of the action items contained in this strategy.” 

    The Manitoba government will continue to engage with rights holders, communities and business as work on the action items from the strategy begins to be implemented, said Moses. 

    The Manitoba Critical Minerals Strategy is available at www.manitoba.ca/minerals. 

    – 30 –

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Official Receivers celebrate 140-year history

    Source: United Kingdom – Executive Government & Departments

    2024 marks the 140th anniversary of the appointment of the first Official Receivers and a rich history of helping to keep the UK a safe place to do business

    Official Receiver court dress on display in the Insolvency Service Stratford Office.

    • The first Official Receivers were appointed in 1884 

    • Official Receivers originally conducted public examinations for every bankruptcy– now people can apply for bankruptcies online. 

    • Next chapter for Official Receivers includes planned new technology to help streamline case management 

    The office of Official Receiver is 140 years old this year, marking a history that has evolved from administering personal bankruptcies to overseeing major company liquidations and securing Bankruptcy Restrictions against people who pose a threat to the public through financial wrongdoing. 

    The Insolvency Service has 16 Official Receivers based across 16 locations in England and Wales, who act as trustees in people’s bankruptcies and liquidate companies that have been wound up, with the backing of hundreds of support staff.  

    They also investigate the causes of insolvencies and can secure stringent restrictions against bankrupt people where there is evidence they have been dishonest or are to blame for their debts, to protect the public from possible future harm. 

    Sharon Lewis, Interim Director of Official Receiver Services at the Insolvency Service, said: 

    Our work makes an impact on people’s lives, whether that’s helping those with overwhelming debt to make a fresh start, safeguarding the public from financial wrongdoing or helping creditors get back money they’re owed.  

    We have always been at the heart of the UK’s world-leading insolvency regime and there is a real pride in our work and strong connection to our long history of service.   

    As we continue to take a more digital focus to support an insolvency regime that is fit for the 21st Century, we look forward to the next chapter in our story in helping to deliver economic confidence for the UK.

    Official Receivers came into being following the Bankruptcy Act 1883 and the first cadre of 67 Official Receivers were appointed in 1884. Originally, the officials would conduct public examinations of bankrupts, and the Senior Official Receiver would appear at ceremonial occasions in formal court dress, including a sword and a bicorn hat. 

    Following rules introduced in 2016, people who choose to become bankrupt can now apply online rather than attend court. These changes reflect a move towards a more flexible service that recognises difficulties faced by people with overwhelming debt. 

    More planned changes to the service focus on new technology, including the introduction of a state-of-the-art case management system to help Official Receivers and their teams deliver a quicker, more efficient service for customers.  

    Official Receivers are supported by around 600 staff across the country, including teams of Deputy Official Receivers, examiners and case workers. The teams include a dedicated Public Interest Unit that deals with the most complex bankruptcy and liquidation cases, and a National Interest Case Executive that administers high-profile liquidations. 

    This year, Official Receivers have been appointed by the courts as liquidators of a number of high profile businesses.  

    Official Receivers in local offices have also dealt with cases including bankruptcies of high-profile individuals, and company insolvencies ranging from GP practices and dentists to funeral directors.  

    In 2023-4, Official Receivers also secured 134 Bankruptcy Restrictions – 93 of which were related to abuse of the Covid loan schemes. They also handled almost 11,000 new cases and returned almost £60million to creditors. 

    An Official Receiver: 

    • Is a civil servant working in the Insolvency Service 

    • Is an officer of the court 

    • Acts as a liquidator of companies – winds down the affairs of companies and investigates the causes of the insolvency and the conduct of current and former directors. 

    • Acts as a trustee in bankruptcy – someone who manages the bankruptcy. A bankrupt person’s assets transfer to the trustee who collects or sells them to make payments to creditors 

    • Applies to court to extend the period prior to a bankrupt person receiving a discharge, if they have failed to cooperate with the Official Receiver in the bankruptcy

    • Secures bankruptcy restrictions orders against those who have acted dishonestly, or are to blame for their bankruptcy, to extend the restrictions imposed on them. 

    Further Information 

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Manitoba Government Invests in Mineral Development Future

    Source: Government of Canada regional news

    November 4, 2024

    Manitoba Government Invests in Mineral Development Future

    – – –
    Manitoba Mineral Development Fund, Modernized Early Mineral Exploration Guidelines, Infrastructure Study Will Help More Companies and Projects Thrive: Moses

    The Manitoba government is announcing an additional intake of up to $2 million in funding through the Manitoba Mineral Development Fund (MMDF) to spur immediate economic growth, Economic Development, Investment, Trade and Natural Resources Minister Jamie Moses announced today. 

    “Our government is growing the critical mineral sector and creating good jobs for Manitobans by enabling the Manitoba Mineral Development Fund to advance projects in Manitoba,” said Moses. 

    Administered through the Manitoba Chamber of Commerce, the MMDF strategically funds economic development and mining projects of up to $300,000 per project that create Indigenous partnerships, increase local employment and stimulate investment in northern Manitoba. Since 2020, $14.7 million has been provided to 90 projects. This has leveraged over $128 million in private sector capital, generated over 660 jobs and 128 community and Indigenous partnerships. 

    “The MMDF has been an overwhelming success in providing funding that has resulted in increased opportunities for partnerships and development along with employment opportunities that have strengthened and greatly benefited communities in the north and across the province,” said Chuck Davidson, president and CEO, Manitoba Chambers of Commerce, and chair of the MMDF board. “The Manitoba government’s ongoing commitment to supporting and investing in projects that contribute to sustainable mineral development will help position Manitoba as a leader in the mineral sector.” 

    The Manitoba government has also partnered with the Mining Association of Manitoba Inc. to revise and modernize the guidelines for early mineral exploration. The guidelines provide clear direction to industry for undertaking early mineral exploration in the province to support and educate companies as they plan early mineral exploration projects to the highest environmental and industry standards. The new guidelines will also serve as a reference tool for Indigenous communities and regulatory bodies evaluating mineral exploration projects in Manitoba, said Moses. 

    The federal government has identified 34 minerals as critical for promoting green energy and sustainable economic success. Manitoba, which is sixth on the Fraser Institute Annual Survey of Mining Companies’ Investment Global Attractiveness Index, has 30 of these 34 critical minerals. Critical minerals are crucial for Manitoba’s growth as a low-carbon leader and are essential to developing clean technologies, energy storage systems, electric vehicles and other technologies that advance net-zero targets, noted the minister. 

    For more information on critical minerals in Manitoba, visit www.manitoba.ca/minerals. For more information on the Manitoba Mineral Development Fund and the next intake, visit https://mmdf.ca/. 

    – 30 –

    MIL OSI Canada News –

  • MIL-OSI Canada: Two Companies Fined in Workplace Incident Causing Serious Injury to a Worker

    Source: Government of Canada regional news

    Released on November 4, 2024

    On October 22, 2024, Strathcona Resources Ltd. pleaded guilty in Kindersley Provincial Court to one violation of The Saskatchewan Employment Act and related to the same incident, Steel View Energy & Industrial Services Ltd. pleaded guilty to one violation of The Occupational Health and Safety Regulations, 2020.

    Strathcona Resources Ltd. was fined for contravening clause 3-12 (a) (ii) of the Act (being a contractor, fail to ensure, insofar as is reasonably practicable, that every work process or procedure carried on at every place of employment or work site where an employer, employer’s worker or self-employed person works pursuant to a contract between the contractor and the employer or self-employed person that is not in the direct and complete control of an employer or self-employed person under contract with the contractor, is safe for, without risk to the health of, and adequate with regard to facilities for the welfare of all employers, workers, or self-employed persons at the place of employment, resulting in the serious injury of a worker).

    As a result, the Court imposed a fine of $60,714.29 with a surcharge of $24,285.71 for a total amount of $85,000. One other charge was withdrawn.

    Steel View Energy & Industrial Services Ltd. was fined for contravening clause 3-1 (a) of the regulations (being an employer, fail to comply with the duties of an employer at a place of employment including the provision and maintenance of a plant, systems of work and working environments that ensure, as far as is reasonably practicable, the health, safety and welfare at work of the employer’s workers, resulting in the serious injury of a worker).

    The Court imposed a fine of $39,285.71 with a surcharge of $15,714.29, for a total amount of $55,000.

    The charges for both companies stemmed from a single incident that occurred on December 5, 2022, near Major, Saskatchewan when a worker was seriously injured when they were struck by an ejection clamp.

    -30-

    For more information, contact:

    Shane Seilman
    Labour Relations and Workplace Safety
    Regina
    Phone: 306-520-2705
    Email: shane.seilman2@gov.sk.ca

    MIL OSI Canada News –

  • MIL-OSI Banking: Airbus signs historic contract to provide 19 H135 military training helicopters to the Royal Canadian Air Force

    Source: Airbus

    Headline: Airbus signs historic contract to provide 19 H135 military training helicopters to the Royal Canadian Air Force

    Airbus Helicopters has signed a landmark contract with SkyAlyne, a joint venture between Canadian defence leaders CAE and KF Aerospace, to provide the Royal Canadian Air Force (RCAF) with 19 Airbus H135 helicopters to train the next generation of RCAF Pilots.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Airbus signe un contrat historique et fournira 19 hélicoptères d’entraînement militaire H135 à l’Aviation royale canadienne

    Source: Airbus

    Headline: Airbus signe un contrat historique et fournira 19 hélicoptères d’entraînement militaire H135 à l’Aviation royale canadienne

    Airbus Helicopters a signé un contrat historique avec SkyAlyne, une coentreprise entre CAE et KF Aerospace, chefs de file de la défense canadienne, pour fournir 19 hélicoptères Airbus H135 à l’Aviation royale canadienne (ARC), pour la formation de la prochaine génération de pilotes de l’ARC.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Innovation workshop on resilient and transformative educational infrastructure for learning in Latin America and the Caribbean

    Source: CAF Development Bank of Latin America

    Agenda

    Tuesday, November 5, 2024

    8:30- 9:00 | Reception

    9:00- 9:15 | Opening and Welcome

    • Vice Minister of Preschool, Basic and Secondary Education of the Republic of Colombia

    9:15-9:30 | Introduction to work in collaborative sessions

    Pablo Bartol. CAF Social and Human Development Manager

    9:30- 9:50 | CAF perspective on innovation in infrastructure for learning

    • Martin Motta. CAF Senior Executive of Social Infrastructure

    9:50-10:50 | Project spaces for learning Presentation and exchange space

    • Giancarlo Mazzanti. Director of Architects

    10:50-11:00 | Coffee break

    11:00-12:00 | Innovation in infrastructure for learning Presentation and exchange space

    • Rosan Bosch. Founder and Creative Director of Rosan Bosch Studio

    12:00-13:00 | Collaborative Session “Towards innovation in educational infrastructure in Latin America and the Caribbean” (Part 1)

    • Moderator: Jorge Raedó
    • Country Representatives

    13:30-15:00 | Lunch

    15:00-17:00 | Collaborative Session “Towards innovation in educational infrastructure in Latin America and the Caribbean” (Part 2)

    • Moderator: Jorge Raedó
      Country Representatives

    17:00-17:30 | Reflections on the results Collaborative Session Part 1 and 2

    Moderator: Jorge Raedó
    All participants

    Tuesday, November 5, 2024

    8:30- 9:00 | Reception

    9:00- 9:15 | Opening and Welcome

    • Vice Minister of Preschool, Basic and Secondary Education of the Republic of Colombia

    9:15-9:30 | Introduction to work in collaborative sessions

    • Pablo Bartol. CAF Social and Human Development Manager

    9:30- 9:50 | CAF perspective on innovation in infrastructure for learning

    • Martin Motta. CAF Principal Executive of Social Infrastructure

    9:50-10:50 | Project spaces for learning Presentation and exchange space

    • Giancarlo Mazzanti. Director of Architects

    10:50-11:00 | Coffee break

    11:00-12:00 | Innovation in infrastructure for learning Presentation and exchange space

    • Rosan Bosch. Founder and Creative Director of Rosan Bosch Studio

    12:00-13:00 | Collaborative Session “Towards innovation in educational infrastructure in Latin America and the Caribbean” (Part 1)

    • Moderator: Jorge Raedó
      Country Representatives

    13:30-15:00 | Lunch

    15:00-17:00 | Collaborative Session “Towards innovation in educational infrastructure in Latin America and the Caribbean” (Part 2)

    • Moderator: Jorge Raedó
    • Country Representatives

    17:00-17:30 | Reflections on the results Collaborative Session Part 1 and 2

    • Moderator: Jorge Raedó
      All participants

    MIL OSI Global Banks –

  • MIL-OSI Africa: Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future

    Source: The Conversation – Africa – By Barnaby Joseph Dye, Lecturer, King’s College London

    Contemporary economic challenges in Africa appear to be shifting the continent into a new era of development. From COVID-19 to war-induced inflation, many countries in Africa are facing significant economic challenges. The crises of recent years come on top of longer-term increases in debt, especially after the 2014 commodity price shock.

    These circumstances have been the backdrop to recent conflicts, coups, and regime changes. But these contemporary crises follow a period of relatively successful state-led development in the first two decades of the 21st century, resulting in a hype about the new “African lions” and the emergence of an “Africa rising” narrative.

    Two cases stand out as emblematic of this era: Rwanda’s vision of a Dubai-style financial and service hub, and Ethiopia’s rapid manufacturing and infrastructure ambitions.

    Much has been written about the international factors behind this era of state-led development. The focus has been on the extension of private finance and the growth of “new” lenders such as China, India and Brazil. But these perspectives often overlook important questions. What has inspired ambitious African national plans over the last two decades? What assumptions were made about how development happens and how it should look?

    In new research published in a special issue of a journal, we analyse these modernising visions. We unpick their differences and commonalities using cases from multiple countries.

    Our emphasis is on understanding ideas, beliefs, and norms in shaping development plans. Such perspectives are often overlooked in the study of Africa. Scholars have often presumed that ruling elites are primarily interested in narrow material power or self-enrichment. We argue that ideas and beliefs underpin the goals and content of development plans.

    The research covered in the special issue covers Angola, Eritrea and Tanzania, but in this article we will unpack our analysis of Ethiopia and Rwanda.

    20th century modernist development

    Many of the elements of development this century look like resurgent 20th century “high modernism”. This is a term coined by scholar James Scott to describe top-down, state-led, authoritarian programmes of economic development. These programmes typically used infrastructure and technology to engineer supposedly “backward”, “traditional” people and landscapes into efficient, modern, rational alternatives.

    Perhaps the chief examples here are large dams. Historically, dams were viewed as the hallmark projects of modernisation. They could tame nature and deploy technology, whether electricity or irrigation, to found modern economies and workers. Ghana’s Akosombo Dam is one such project.

    But building dams paused from the mid-1990s to the mid-2000s as the World Bank and other major funders withdrew. Dam projects were seen as having too-high social and economic costs and as not performing well. Such negative impacts also generated significant protests.

    Rwanda’s case

    Underpinning Rwanda’s model is a concentrated Leninist-style power structure. The president and associated elites chart the path to progress. The party, with its affiliated companies and investment funds, is all powerful – not solely the state. Rwanda also revived mid-century plans, from dams to an east African railway corridor. Electricity was deemed central, resulting in a rapid, but overambitious five-fold increase in over 15 years.

    This recent period was not just a reproduction of the 1960s, however. It had new elements. A Dubai-style aesthetic is central to the reinvented capital, Kigali, where the goal is to create a new corporate service hub, replete with skyscraper, conference centres, shopping malls and a new international airport. This replaces the 20th century obsession with industrial sites and brutalist concrete.

    Rather than the state-led programmes of the 20th century, pro-market reforms have been incorporated. There’s an embrace of private enterprise, a stock market and investment. The country’s electricity boom was largely enacted by private firms and Rwanda consistently ranks as one of the top countries in the Ease of Doing Business index. It takes hours, not weeks, to set up a company and there’s a speedy regulatory bureaucracy.

    Read more: Rwanda is creating shiny, modern cities after the genocide – but this won’t help communities heal from the past

    In some cases, “neoliberal” reforms have been brought in, with private enterprise and investment in previously state-controlled domains. Rwanda embraced corporate investment and ownership while making business-friendly, low-tax reforms. The private sector was given a big role in Rwanda’s boom to build over 40 microhydro plants in 15 years.

    New public management techniques, with individual incentives and civil service targets, were adopted.

    Ethiopia’s case

    Ethiopia focused on investments in large agricultural plantations and industrial parks. The result evoked 20th century modernisation drives. A broad-based infrastructure boom and an industrialisation strategy that moved agricultural produce up the value chain would transform the structure of the economy. The Grand Ethiopian Renaissance Dam, the Addis-Djibouti Railway and other megaprojects became symbols of this vision. The aim was to maintain state control of the commanding heights of the economy (electricity, water, telecommunications and aviation, among others), while building an industrial base that would absorb the surplus agricultural labour.

    This was coupled with investments in education and health. In 2016, Ethiopia had the third highest ratio of public investment to GDP, but also one of the fastest economic growth rates globally.

    Unlike Rwanda, this ideology has not survived. Progress in health, education and income was achieved but political tensions grew. By the mid 2010s, the material reality of people’s livelihoods could no longer keep up with the promises the ruling party had evoked. Dissent was not tolerated and led to mass protests, riots, and the eventual demise of the party. Since 2018, there has been a dramatic shift in ideology and vision with an openness to liberalisation, and a focus away from industrialisation to the service sector.

    Continuity and change

    Overall, our analysis reveals a combination of continuity and change during this period. It marks the triumph of an “African left”, with old titans like Tanzania’s Chama Cha Mapinduzi or Mozambique’s Frelimo joined by new revolutionary parties also inspired by Marxism.

    The language of communism or socialism is not used explicitly. But a belief endures that top-down schemes and mega-infrastructure can catapult people into an “enlightened” future. Structural economic barriers are surmountable through technology and engineering.

    Simultaneously, one cannot escape the language of the Davos establishment about the supremacy of markets, importance of foreign investment and pledges to tackle climate change and poverty. This illustrates the degree to which these illiberal modernisers are connected to international policymaking.

    Our publication conceptualises this pattern of continuity and change, as a 10-point “illiberal modernisers” manifesto. Although holding considerable variation between countries, we argue that these these hegemonic ruling parties shared common goals of transforming society through an elite-defined programme.

    Ultimately, the pattern of continuity and change demonstrates the importance of analysing ideas, beliefs, and values. Elites in Africa, just as elsewhere, are not only interested in power but are influenced by ideas about development.

    – Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future
    – https://theconversation.com/visions-of-development-have-shifted-in-africa-over-the-past-two-decades-study-explores-how-rwanda-and-ethiopia-tried-to-shape-the-future-224988

    MIL OSI Africa –

  • MIL-OSI Economics: cmc-central.net: BaFin warns consumers about website and identity fraud

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The operators of the website refer to themselves as CMC Central AG and give a business address in Zurich, Switzerland. BaFin already published a warning about the largely identical cmc-central.pro website on 7 August 2024.

    BaFin has recently become aware of a number of websites with almost identical content and has also warned consumers about them. In each case, the website’s homepage displays the phrase: “Step Into the Trading Arena with Confidence & [name of website]“.

    BaFin advises consumers that the website cmc-central.pro and/or its operators have no business relationship with the company CMC Markets Germany GmbH, domiciled in Frankfurt am Main, Germany, which is registered with BaFin. This is a case of identity fraud committed against CMC Markets Germany GmbH.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI USA: Power BI Training

    Source: US State of Wyoming

    For Soldiers and Airmen of the Wyoming National Guard, data isn’t just numbers on a screen—it’s a tool for understanding performance, predicting needs and responding to emergencies. 

    With the new Power BI training, Cowboy Guard members are learning to harness data in ways that improve decision-making, streamline processes and bring greater clarity to the mission.

    “It’s a lot of information, and if you’re not already familiar with Excel and Access, it can be challenging,” said Senior Master Sgt. Kelli Strom, military personnel management assistant for the Joint Forces Headquarters-Air, who works with data daily to assess unit performance. “But it’s incredibly valuable, especially since we rely on data extensively to measure our effectiveness. Being able to organize that data into sustainable measurement tools is priceless.”

    The training, led by National Guard Professional Education Center instructors Capt. Shane McDonald and Capt. Austin Bray, is part of a broader effort to ensure that Cowboy Guard personnel can quickly access, analyze and act upon the information needed to make informed decisions. McDonald describes it as a capability that has a real human impact in the fast-paced environment of the National Guard whether tracking equipment maintenance or personnel readiness, real-time data has become as essential to the mission as any other tool.

    “Power BI offers significant benefits in a military context,” explained McDonald, a company commander with the Arkansas National Guard. “Real-time data analysis is crucial for quick decision-making, which is often required in operational settings. Having that information right when it’s needed can make all the difference.”

    For many in the Guard, Power BI represents an opportunity to eliminate repetitive manual tasks, reducing errors and freeing up personnel to focus on mission-critical work. With Power BI’s ability to automate data gathering, clean-up and reporting, Airmen like Strom can spend more time on strategic analysis and less on data prep. 

    “We’re constantly data-mining to meet leadership’s needs,” Strom said. “This training helps us organize it all in a meaningful way.”

    Power BI also fosters a culture of shared information across the Guard’s ranks, helping to reduce silos between departments and align everyone on common goals, McDonald said. The interactive dashboards give everyone—from top brass to enlisted Soldiers—access to the same insights, encouraging collaboration and a clear view of progress and needs. 

    “Power BI improves communication and transparency by centralizing data sharing,” McDonald noted. “It’s about empowering Soldiers and Airmen to make informed decisions at every level.”

    The human side of this training is about more than numbers; it’s about Soldiers and Airmen having the confidence to use these new skills in real-world scenarios. From interactive dashboards to data visualizations, Power BI gives them a new way to understand and respond to challenges. But to make that leap, Bray said ongoing support, mentorship and practical exercises are key. 

    “It’s essential to provide tailored training for different roles and expertise levels,” he said, underscoring the importance of learning through real-life applications.

    For Cowboy Guardsmen like Master Sgt. Katie Upton, a first sergeant for the Wyoming Army National Guard, the training has been an eye-opener on the potential for data to make a meaningful impact. 

    “It’s important because if we don’t know where we are, we won’t know where we’re headed or how to get there,” she explained. With Power BI, she’s excited to see the Guard shift toward more data-driven operations that allow leaders to see an accurate picture of readiness at any given moment.

    As Soldiers and Airmen embrace these new capabilities, Power BI is more than just another tool—it’s a pathway to a new way of thinking, according to McDonald. 

    “Personally, I’ve been interested in Power BI for a few years, so I’m thrilled the Army and the Air Force – are embracing it,” Upton said. “Power BI will reshape how we measure performance and combine the many factors contributing to each indicator, ultimately making our work more efficient and impactful.”

    MIL OSI USA News –

  • MIL-OSI Banking: ICC and World Governments Summit announce knowledge partnership

    Source: International Chamber of Commerce

    Headline: ICC and World Governments Summit announce knowledge partnership

    The agreement was formalised in a signing ceremony between ICC Secretary-General John W.H. Denton AO and Omar bin Sultan Al Olama, United Arab Emirates (UAE) Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Director of the WGS.

    Under the partnership, ICC and WGS will work closely to exchange insights and best practices to support the design of resilient economic models and international standards conducive to sustainable development, at both regional and global levels.

    Mr Al Olama underscored the WGS’ commitment to improving governance models, enhancing community quality of life, and creating better opportunities for future generations.

    “Enhancing international partnerships to define future pathways and proactively tackle challenges is central to the vision and mission of the World Governments Summit,” he said.

    Mr Al Olama said the partnership would add depth to WGS’s knowledge resources and strengthen its capacity to support decision-makers with innovative, yet practical, solutions. “Economic, trade, and business sectors hold a prominent position on the summit’s agenda, as they are crucial drivers of development and prosperity,” he added, highlighting the need for cooperation to design future-oriented economic models.

    Recognising WGS’s role in fostering dialogue on global issues, ICC Secretary General John W.H. Denton AO said:

    “The World Governments Summit is increasingly recognised as a critical platform for discussing and influencing the future of global governance. As the world’s largest business organisation, ICC firmly believes that no global challenge can be effectively addressed without the involvement of the private sector. Through our partnership with WGS, we look forward to leveraging the expertise and resources of our vast network, representing over 45 million companies across 170 countries, including 70% from the Global South, to foster innovative approaches to international cooperation.”

    Mr Denton stressed ICC’s commitment to collaborative solutions that are not only innovative but also inclusive, ensuring developing economies have a voice in shaping the global economic landscape.

    The World Governments Summit is a global platform that brings together leaders from government, business, and civil society to address pressing global challenges and explore future trends. Through collaborative efforts and knowledge-sharing, the Summit aims to shape the future of governance, foster innovation, and develop sustainable solutions that improve quality of life for communities worldwide.

    MIL OSI Global Banks –

  • MIL-OSI Global: Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future

    Source: The Conversation – Africa – By Barnaby Joseph Dye, Lecturer, King’s College London

    Contemporary economic challenges in Africa appear to be shifting the continent into a new era of development. From COVID-19 to war-induced inflation, many countries in Africa are facing significant economic challenges. The crises of recent years come on top of longer-term increases in debt, especially after the 2014 commodity price shock.

    These circumstances have been the backdrop to recent conflicts, coups, and regime changes. But these contemporary crises follow a period of relatively successful state-led development in the first two decades of the 21st century, resulting in a hype about the new “African lions” and the emergence of an “Africa rising” narrative.

    Two cases stand out as emblematic of this era: Rwanda’s vision of a Dubai-style financial and service hub, and Ethiopia’s rapid manufacturing and infrastructure ambitions.

    Much has been written about the international factors behind this era of state-led development. The focus has been on the extension of private finance and the growth of “new” lenders such as China, India and Brazil. But these perspectives often overlook important questions. What has inspired ambitious African national plans over the last two decades? What assumptions were made about how development happens and how it should look?

    In new research published in a special issue of a journal, we analyse these modernising visions. We unpick their differences and commonalities using cases from multiple countries.

    Our emphasis is on understanding ideas, beliefs, and norms in shaping development plans. Such perspectives are often overlooked in the study of Africa. Scholars have often presumed that ruling elites are primarily interested in narrow material power or self-enrichment. We argue that ideas and beliefs underpin the goals and content of development plans.

    The research covered in the special issue covers Angola, Eritrea and Tanzania, but in this article we will unpack our analysis of Ethiopia and Rwanda.

    20th century modernist development

    Many of the elements of development this century look like resurgent 20th century “high modernism”. This is a term coined by scholar James Scott to describe top-down, state-led, authoritarian programmes of economic development. These programmes typically used infrastructure and technology to engineer supposedly “backward”, “traditional” people and landscapes into efficient, modern, rational alternatives.

    Perhaps the chief examples here are large dams. Historically, dams were viewed as the hallmark projects of modernisation. They could tame nature and deploy technology, whether electricity or irrigation, to found modern economies and workers. Ghana’s Akosombo Dam is one such project.

    But building dams paused from the mid-1990s to the mid-2000s as the World Bank and other major funders withdrew. Dam projects were seen as having too-high social and economic costs and as not performing well. Such negative impacts also generated significant protests.

    Rwanda’s case

    Underpinning Rwanda’s model is a concentrated Leninist-style power structure. The president and associated elites chart the path to progress. The party, with its affiliated companies and investment funds, is all powerful – not solely the state. Rwanda also revived mid-century plans, from dams to an east African railway corridor. Electricity was deemed central, resulting in a rapid, but overambitious five-fold increase in over 15 years.

    This recent period was not just a reproduction of the 1960s, however. It had new elements. A Dubai-style aesthetic is central to the reinvented capital, Kigali, where the goal is to create a new corporate service hub, replete with skyscraper, conference centres, shopping malls and a new international airport. This replaces the 20th century obsession with industrial sites and brutalist concrete.

    Rather than the state-led programmes of the 20th century, pro-market reforms have been incorporated. There’s an embrace of private enterprise, a stock market and investment. The country’s electricity boom was largely enacted by private firms and Rwanda consistently ranks as one of the top countries in the Ease of Doing Business index. It takes hours, not weeks, to set up a company and there’s a speedy regulatory bureaucracy.



    Read more:
    Rwanda is creating shiny, modern cities after the genocide – but this won’t help communities heal from the past

    In some cases, “neoliberal” reforms have been brought in, with private enterprise and investment in previously state-controlled domains. Rwanda embraced corporate investment and ownership while making business-friendly, low-tax reforms. The private sector was given a big role in Rwanda’s boom to build over 40 microhydro plants in 15 years.

    New public management techniques, with individual incentives and civil service targets, were adopted.

    Ethiopia’s case

    Ethiopia focused on investments in large agricultural plantations and industrial parks. The result evoked 20th century modernisation drives. A broad-based infrastructure boom and an industrialisation strategy that moved agricultural produce up the value chain would transform the structure of the economy. The Grand Ethiopian Renaissance Dam, the Addis-Djibouti Railway and other megaprojects became symbols of this vision. The aim was to maintain state control of the commanding heights of the economy (electricity, water, telecommunications and aviation, among others), while building an industrial base that would absorb the surplus agricultural labour.

    This was coupled with investments in education and health. In 2016, Ethiopia had the third highest ratio of public investment to GDP, but also one of the fastest economic growth rates globally.

    Unlike Rwanda, this ideology has not survived. Progress in health, education and income was achieved but political tensions grew. By the mid 2010s, the material reality of people’s livelihoods could no longer keep up with the promises the ruling party had evoked. Dissent was not tolerated and led to mass protests, riots, and the eventual demise of the party. Since 2018, there has been a dramatic shift in ideology and vision with an openness to liberalisation, and a focus away from industrialisation to the service sector.

    Continuity and change

    Overall, our analysis reveals a combination of continuity and change during this period. It marks the triumph of an “African left”, with old titans like Tanzania’s Chama Cha Mapinduzi or Mozambique’s Frelimo joined by new revolutionary parties also inspired by Marxism.

    The language of communism or socialism is not used explicitly. But a belief endures that top-down schemes and mega-infrastructure can catapult people into an “enlightened” future. Structural economic barriers are surmountable through technology and engineering.

    Simultaneously, one cannot escape the language of the Davos establishment about the supremacy of markets, importance of foreign investment and pledges to tackle climate change and poverty. This illustrates the degree to which these illiberal modernisers are connected to international policymaking.

    Our publication conceptualises this pattern of continuity and change, as a 10-point “illiberal modernisers” manifesto. Although holding considerable variation between countries, we argue that these these hegemonic ruling parties shared common goals of transforming society through an elite-defined programme.

    Ultimately, the pattern of continuity and change demonstrates the importance of analysing ideas, beliefs, and values. Elites in Africa, just as elsewhere, are not only interested in power but are influenced by ideas about development.

    Barnaby Joseph Dye receives funding from the Economic and Social Science Research Council (UK).

    Biruk Terrefe received funding from the Heinrich Böll Foundation (Germany).

    – ref. Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future – https://theconversation.com/visions-of-development-have-shifted-in-africa-over-the-past-two-decades-study-explores-how-rwanda-and-ethiopia-tried-to-shape-the-future-224988

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: MedSafetyWeek 2024: Preventing side effects 

    Source: United Kingdom – Government Statements

    The ninth annual #MedSafetyWeek takes place this week, with regulators from 94 countries and 107 organisations taking part across the globe. 

    #MedSafetyWeek forms part of international efforts to raise awareness about the importance of reporting suspected side effects to national medicines regulatory authorities such as the Medicines and Healthcare products Regulatory Agency (MHRA).  

    This year’s campaign, which runs from 4 to 10 November, focuses on the importance of using medicines correctly to prevent side effects. 

    This means taking the right medicines, at the right time, in the right way and at the right dose, and carefully following instructions for use of medical devices. Following these steps can drastically reduce the risk of some side effects and safety issues.  

    When side effects do arise, this MedSafetyWeek, we ask that they are reported directly to the MHRA’s Yellow Card scheme and local reporting systems as soon as possible. Anyone can make a report: patients, parents, carers and healthcare professionals.  

    Reporting to the scheme allows the MHRA to not only identify new adverse effects but also gain more information about known adverse effects. This helps to improve the safety of medicines and healthcare products for all patients. 

    Safety concerns about medical devices, blood factor and immunoglobulin products, e-cigarettes and defective, low-quality or fake healthcare products should also be reported on the Yellow Card website. 

    This year’s MedSafetyWeek theme of ‘preventing side effects’ aligns with the third World Health Organization (WHO) Global Patient Safety Challenge: Medication Without Harm.  

    Preventable side effects contribute significantly to an increasing burden on patients and healthcare services, with studies consistently showing that between one third and a half may be potentially preventable.  

    Anticipating and managing side effects is key to reducing this burden and protecting patients from avoidable harm.  

    Please support #MedSafetyWeek by sharing, liking and reposting our social media posts: 

    Yellow Card scheme 

    In the UK, the MHRA’s Yellow Card scheme is a critical source of information for us as the regulator to monitor the safety of healthcare products once they are on the market.   

    Importantly, Yellow Card reports can help to identify previously unknown side effects – or adverse drug reactions (ADRs) – and provide new safety knowledge to ensure risk is minimised.  

    Examples include a report of a three-month-old baby who was prescribed Gaviscon Infant to manage reflux and two days later had severe constipation. 

    MHRA experts investigated the report and found six other reports of constipation with Gaviscon Infant in children. The ages of the patients varied between two weeks and nine months, except for one child who was a one-year-old.  

    As the medicine is indicated for children aged one to two years, it appeared that in the vast majority of these cases the product had been prescribed by a healthcare professional in an unapproved patient age group. 

    It was decided that regulatory action was needed to make the product information clearer with the relevant warnings and precautions. 

    Yellow Card Biobank 

    The Yellow Card Biobank is an MHRA and Genomics England pilot project with the goal of increasing understanding of how a patients’ genetic makeup may increase their risk of side effects from prescribed medications.  

    The MHRA is currently looking for patients who have experienced severe skin reactions when taking allopurinol or severe bleeding when taking direct oral anticoagulants to join the study, before mid-January 2025. 

    If you or your patient have experienced a side effect to either of these drugs please complete a Yellow Card report. If you have any questions on the Biobank study, please email Yellowcardbiobank@mhra.gov.uk

    Updates to this page

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: easyJet launch first flights to Liverpool and Edinburgh from City of Derry Airport

    Source: Northern Ireland – City of Derry

    easyJet launch first flights to Liverpool and Edinburgh from City of Derry Airport

    4 November 2024

    easyJet, Northern Ireland’s largest airline, has this week launched the first flights on two new domestic routes from City of Derry Airport to Liverpool and Edinburgh.

    The new twice-weekly services – providing customers in Northern Ireland even more convenient connections across the UK – took off for the first time today with both routes operating every Monday and Friday throughout the year.

    To mark the occasion, the Airport surprised the inaugural departure and arrival passengers with an easyJet orange celebration where they were treated to complimentary drinks, refreshments and giveaways before setting off.

    Special guests, the Mayor Derry City & Strabane District Council, Cllr Lilian Seenoi-Barr, Chief Executive at Visit Derry, Odhran Dunne, President of Derry Chamber of Commerce, Greg McCann, President of Causeway Chamber of Commerce, James Kilgore, and Chief Executive of Letterkenny Chamber of Commerce, Toni Forrester, joined the celebrations.

    The new routes provide stronger domestic connectivity and serve increasing demand for flights between Northern Ireland and key cities across the UK.

    Both Edinburgh and Liverpool are known for their rich history and wide range of cultural attractions, including museums, art galleries, theatres, and music venues. Edinburgh is famous for its festivals, while Liverpool is known for its music scene, particularly The Beatles.

    Whether customers are looking for a city break, to visit friends and family, need a convenient business connection, or are connecting to onward destinations across Europe and beyond, easyJet offers great value fares and flights for business and leisure travellers alike.

    Ali Gayward, easyJet’s UK Country Manager, said:

    “We are thrilled to be celebrating the launch of our year-round operations from City of Derry Airport to Liverpool and Edinburgh today, and to be providing even more choice for our business and leisure customers alike.

    “We are proud to be the largest airline in Northern Ireland offering great value fares and convenient connections for our customers here as, well as those across the UK looking to explore the fantastic experiences Northern Ireland has to offer.”

    Steve Frazer, Managing Director at City of Derry Airport stated:

    “This is a special day for City of Derry Airport as easyJet takes off from the Northwest for the first time. This is a day that should be celebrated for the entire Northwest region. easyJet brings an undeniable level of brand credibility, customer confidence, not to mention great value fares for travellers across our catchment area.

    “We are very pleased for the return of connectivity to Edinburgh and Liverpool for our local region as year-round services to these destinations have been in demand from both corporate and leisure travellers for some time, and the flight schedule for Monday’s and Friday’s offers ideal timings for business travel during the week and weekend breaks for the leisure market.

    “The launch of easyJet services will be an additional economic driver for business investment in the Northwest and inbound travel and tourism, we are proud to be able to help grow and develop these sectors in our local area.”

    easyJet is the largest airline in Northern Ireland, offering over 45 routes across Europe and North Africa.

    Great value seats are available to book from £14.99* on easyJet.com and via the mobile app. To discover more about easyJet’s Northern Ireland network and to book, visit easyJet.com.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Government welcomes Official Partners for COP29 

    Source: United Kingdom – Government Statements

    The Official Partners sponsoring the UK’s Pavilion at COP29 are: AVEVA, Corporate Leaders Group, DP World, National Grid, Octopus Energy, SSE and Standard Chartered.

    This year’s COP29 UK Pavilion Official Partners represent UK industry’s outstanding reputation for addressing climate change through enterprise and innovation.

    Throughout the COP29 summit in Baku, Azerbaijan, the UK Pavilion will host a series of events including panel talks, roundtable discussions and networking receptions. These will raise awareness of the best of British climate leadership and share insights on climate change from UK organisations, policy and business. 

    The funding by the UK Pavilion sponsors reduces cost to the taxpayer, while enabling official partners to demonstrate the vital role industry plays in progressing the climate agenda. 

    National Grid and SSE are returning as official partners from COP26 in Glasgow, COP27 in Sharm-El Sheikh and COP28 in Dubai, while Octopus Energy is returning from COP28 – showing the ongoing commitment of these companies to cutting emissions and accelerating towards net zero, and to working with the government on this important mission. 

    The UK government has also welcomed 4 new businesses to the COP29 sponsor portfolio: AVEVA, Corporate Leaders Group, DP World and Standard Chartered, resulting in the highest ever number of official partners at a COP summit.

    COP29 runs from 11-22 November and the UK Pavilion will be open for the duration of the conference. 

    The sponsors

    AVEVA 

    Headquartered in the UK, AVEVA is a global leader in industrial software, driving responsible use of the world’s resources. Over 25,000 enterprises in over 100 countries rely on AVEVA to help them deliver life’s essentials: safe and reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA enables teams to engineer efficiently and optimize operations, driving growth and sustainability.  AVEVA attends COP29 with a wholehearted commitment to ensure that COP29 remains the key mechanism for driving collaborative progress on net zero. With the industrial sector contributing to a quarter of global emissions, AVEVA aims to demonstrate digitalization’s critical role in decarbonising hard-to-abate sectors while enabling innovation in low-carbon paradigms that can support a just transition to a more sustainable future. Sponsoring the UK Pavilion is a key opportunity to collaborate with business, government and civil society leaders, supporting the transformation of UK economic interests to support COP objectives and accelerating the drive for net zero worldwide. 

    Caspar Herzberg, CEO, AVEVA:

    As a UK-headquartered global leader in industrial intelligence software, AVEVA is proud to support the UK Pavilion at COP29. With industry responsible for a quarter of global emissions, industrial digitalisation is revolutionising decarbonisation strategies. Our work with more than 20,000 enterprises worldwide shows how cross-sector collaboration and untapped industrial data are driving breakthrough sustainability solutions. The UK continues to demonstrate leadership in sustainable industrial innovation, and alongside our government and industry partners, we’re committed to accelerating measurable action on our path to net zero.

    Corporate Leaders Group UK 

    The UK Corporate Leaders Group (CLG UK) is a cross-sector, impact-driven business membership group that provides a strong corporate voice to support UK leadership for the transition to a climate neutral, nature positive and socially inclusive economy. CLG UK’s ongoing mission is to increase business and government leadership through a reinforcing virtuous cycle of increasing ambition and implementing action. It has convened and helped build consensus across the UK business community in support of the transition to competitive, climate-neutral, nature-positive and socially inclusive economies.

    Beverley Cornaby, Director, UK Corporate Leaders Group:

    The UK Corporate Leaders Group (CLG UK) is delighted to be sponsoring the UK Pavilion at COP29. The timing could not be more important, with the window of opportunity to transition to a clean future closing rapidly. CLG UK is urging governments to be decisive, provide clear policy frameworks and stay on course to meet net zero through strong delivery and implementation plans. To succeed, the UK government must bring business with it on its journey. That is where CLG UK is perfectly positioned to work with the UK Pavilion’s partners, businesses and change-makers to mobilise investment, technology and innovation to achieve our shared goals. We must work together to unlock the power of UK leadership, shift markets and economies, and maintain ambition for climate, nature and people.

    DP World  

    DP World exists to make the world’s trade flow better, changing what’s possible for the customers and communities it serves globally.  With a dedicated, diverse and professional team of more than 115,000 employees from 160 nationalities, spanning 78 countries on six continents, DP World is pushing trade further and faster towards a seamless supply chain that’s fit for the future. DP World is rapidly transforming and integrating its businesses – Ports and Terminals, Marine Services, Logistics and Technology – and uniting its global infrastructure with local expertise to create stronger, more efficient and sustainable end-to-end supply chain solutions that can change the way the world trades. 

    Rashid Abdulla, CEO & Managing Director, Europe:

    DP World’s ambition is to streamline and sustain global trade while building a resilient, lower-carbon supply chain. At COP29 with the UK government, we will champion sustainable end-to-end solutions that address climate challenges head-on, playing our part in connecting stakeholders across sectors, promoting collaboration and creating shared value.

    National Grid  

    National Grid plays a crucial role in connecting millions of people to the energy they use safely, reliably and efficiently.  National Grid is pioneering ways to decarbonise the energy system; from building interconnectors to allow the UK to share clean energy with Europe, to investing in renewable energy generation in the United States. 

    Rhian Kelly, Chief Sustainability Officer, National Grid:

    Collaboration across borders and the sharing of best practice is vital if the global ambition for a clean energy future is to be met. Energy networks are an important part of this, enabling clean, green energy to flow from where it’s generated to where it’s needed. National Grid is proud to support the UK Pavilion at COP29, and we look forward to sharing our experiences and learning more from the international community.

    Octopus Energy  

    As a British-born company, Octopus Energy showcases how the UK is leading the world in green innovation, investing billions in clean technologies to drive meaningful change globally.  With operations in 18 countries, and 54 million households running on its tech platform Kraken, Octopus is bringing cheaper power to millions of customers globally.  Launched just eight years ago, Octopus is now the largest electricity supplier in the UK and one of the largest investors in renewables in Europe, managing a portfolio worth £7 billion.  Its relentless focus on smart tech and innovations has unlocked the world’s largest virtual power plant and homes with zero energy bills, delivering clean solutions that save people money and power the world. 

    Zoisa North-Bond, CEO Octopus Energy Generation:

    The UK is the vanguard of green innovation, brimming with the talent and technology needed to accelerate the global energy revolution – and COP is a great opportunity to showcase this. From microgrids to wind farms and EVs – the solutions to empower global communities and stop climate change are available today.  By working with policymakers and industry leaders worldwide, we can make green energy accessible for all and drive the solutions that will power the world.

    SSE 

    SSE is the UK and Ireland’s clean energy champion, investing over £20 billion into homegrown energy.  Our purpose is to provide the energy needed today while building a better world of energy for tomorrow.  We do this by developing, building, operating and investing in world-class electricity infrastructure that is vital to the clean energy transition.  We were the first company in the world to develop a ‘just transition strategy’, aimed at ensuring the benefits of the clean energy transition are shared by workers and communities.  SSE has aligned its business strategy to the UN’s Sustainable Development Goals (SDGs), providing a powerful framework to guide the creation of shared value for shareholders and society. 

    Martin Pibworth, SSE Chief Commercial Officer:

    At SSE, we’ve put delivering net zero at the heart of our strategy backed up with of a multi-billion-dollar investment programme focused on mission-critical clean energy infrastructure.  COP29 provides the opportunity to speed up the pace of the transition working with a range of international partners to collectively deliver a global just transition.

    Standard Chartered 

    Standard Chartered has an important role to play in supporting our clients, sectors and markets to accelerate the transition to a low carbon, climate resilient economy. We’re pleased to partner with the UK at COP29, creating a platform to bring together partners, stakeholders and decision makers to help deliver outcomes in support of the Paris Agreement. As a major financial hub, the UK has some of the deepest pools of internationally oriented capital and as a leading international cross-border bank, headquartered in the UK, Standard Chartered is uniquely positioned to mobilise this capital and investment towards our footprint markets across Asia, Africa and the Middle East.  

    Marissa Drew, Chief Sustainability Officer, Standard Chartered:

    We’re pleased to partner with the UK at COP29 and will use this platform, alongside the full breadth of our sustainable finance expertise, to help scale finance and innovative solutions in support of the Paris Agreement. The UK has some of the deepest pools of internationally oriented capital and as a leading international cross-border bank, headquartered in the UK, Standard Chartered is uniquely positioned to mobilise this capital towards sustainable and inclusive growth across our footprint markets in Asia, Africa and the Middle East.

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI Banking: Foreign Exchange and Liquidity and Monthly Balance Sheet, October 2024

    Source: Danmarks Nationalbank

    THE FOREIGN-EXCHANGE RESERVE

    In October 2024, the foreign-exchange reserve increased by kr. 8.4 billion to kr. 650.0 billion. The increase reflects Danmarks Nationalbank’s net purchase of foreign exchange for kr. 0.6 billion, and the central government’s net borrowing of foreign debt for kr. 7.7 billion, cf. table 1.

    For settlement in October, Danmarks Nationalbank has not intervened in the foreign exchange market.

    Danmarks Nationalbank’s net foreign-exchange purchases and the change in the foreign-exchange reserve – table 1

    Kr. billion October 2024 January 2024 – October 2024
    Danmarks Nationalbank’s interventions* to purchase foreign exchange, net 0.0 0.0
    Other** 0.6 15.2
    Danmarks Nationalbank’s net foreign-exchange purchases 0.6 15.2
    The central government’s net foreign borrowing*** 7.7 8.9
    Change in the foreign-exchange reserve 8.4 24.1

    Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.

    * Intervention takes place when Danmarks Nationalbank purchases and sells foreign exchange for Danish kroner in the foreign-exchange market in order to stabilise the exchange rate.

    ** Comprises e.g. interest accrued on the foreign-exchange reserve, the central government’s net payments in foreign exchange, and changes in the banks’ deposits in euro-denominated accounts at Danmarks Nationalbank.

    *** Including net payments to the central government in foreign exchange as a result of currency swaps.

    DEVELOPMENT IN LIQUIDITY

    In October, the central government’s net financing requirement amounted to kr. 25.5 billion. Since the turn of the year, the central government’s net financing requirement has been kr. -35.1 billion, cf. table 2.

    The net position of the banks and mortgage-credit institutes vis-à-vis Danmarks Nationalbank increased by kr. 25.3 billion in October, to an outstanding amount of kr. 258.3 billion. In October, the central government’s liquidity impact increased the net position by kr. 22.5 billion.

    Impact of various factors on the net position of the banks and mortgage-credit institutes via-a-vis Danmarks Nationalbank – table 2

    Kr. billion October 2024 January 2024 – October 2024
    The central government’s net financing 25.5 -35.1
    Redemption on domestic central-government debt* 5.6 41.8
    Net bond purchases by the government funds and own portfolio and financing of social housing -1.0 0.1
    Other** -0.2 0.0
    The central government’s gross domestic financing requirement 29.8 6.9
    The central government’s gross domestic borrowing*** 7.3 66.4
    The central government’s liquidity impact 22.5 -59.6
    Danmarks Nationalbank’s net foreign-exchange purchases 0.6 15.2
    Danmarks Nationalbank’s net bond purchases 0.2 -0.2
    Other factors**** 2.0 12.5
    Change in net position 25.3 -32.1

    Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.

    * Including krone-denominated payments by the central government in currency swaps.

    ** Comprises foreign net financing requirement and changes in net collateral for the government’s swap portfolio.

    *** Gross long-term borrowing, net short-term borrowing and krone-denominated payments to the central government in currency swaps.

    **** Comprises e.g. changes in banknotes and coins in circulation.

    DANMARKS NATIONALBANK’S INTEREST RATES

    Since 18 October 2024 the discount rate has been 2.85 pct. p.a., since 18 October 2024 the current-account interest rate has been 2.85 pct. p.a., since 18 October 2024 the lending rate has been 3 pct. p.a. and since 18 October 2024 the rate of interest on certificates of deposit has been 2.85 pct. p.a.

    Enquiries can be directed to press advisor Teis Hald Jensen on tel. +45 3363 6066.

    BALANCE SHEET OF DANMARKS NATIONALBANK 31 OCTOBER 2024

    Assets 2024 2024
    1000 kr. 31/10 30/09
    Stock of gold 29,762,724 29,762,724
    Foreign assets 568,018,936 558,598,616
    Claims on the International Monetary Fund 56,612,023 56,612,023
    Claims related to banks’ and mortgage credit institutes’ TARGET accounts in ECB 25,158 21,936
    Monetary-policy lending – –
    Other lending 1,257,590 1,328,162
    – Banks’1) 1,257,590 1,328,162
    – Miscellaneous loans – –
    Domestic bonds 32,828,772 32,648,468
    Financial fixed assets, etc. 131,550 131,550
    Tangible and intangible fixed assets 657,630 659,416
    Other assets 3,266,872 2,613,908
    692,561,255 682,376,803

    1) Other lending to banks include loans for cash deposits.

    Liabilities 2024 2024
    1000 kr. 31/10 30/09
    Banknotes 49,490,166 50,703,826
    Coins 6,141,453 6,139,781
    Monetary-policy deposits 258,308,841 232,970,192
    – Current accounts 258,308,841 232,970,192
    – Certificates of deposit – –
    Other deposits 14,923,309 14,842,944
    – Deposits related to banks’ and mortgage credit institutes’ TARGET accounts in ECB 25,158 21,936
    – Other deposits from banks’ and mortgage credit institutes’ 1,090,023 1,116,117
    – Miscellaneous deposits 13,808,128 13,704,891
    Central government 228,928,623 243,798,735
    Foreign liabilities 4,405,659 3,348,426
    Counterpart of Special Drawing Rights allocated by the IMF (SDR) 43,743,945 43,743,945
    Other liabilities 2,912,279 3,121,974
    Capital and reserves 83,706,980 83,706,980
    692,561,255 682,376,803

    Note: The monthly balance sheet is calculated at beginning of year values +/- accumulated transaction values. The monthly balance does not include value adjustments and accruals, as these are only calculated at year-end, cf. Danmarks Nationalbank’s accounting principles.

    MIL OSI Global Banks –

  • MIL-OSI USA: Warren, Hickenlooper Call on Fed to Deliver Bigger Rate Cut to Protect the Economy and Provide Relief for American Families

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    November 04, 2024
    With new inflation data showing inflation nearly at Fed’s target, Senators call for .5% cut
    “If the Fed moves forward with more rate cuts, housing prices and mortgage rates would thus also likely drop, allowing more families to achieve the American dream.” 
    Text of Letter (PDF) 
    Washington, D.C. – Ahead of the Federal Reserve’s (Fed; the Board) November Federal Open Market Committee  meeting, U.S. Senator Elizabeth Warren (D-Mass.) and John Hickenlooper (D-Colo.) urged Fed to deliver a 50 basis point (.50%; each basis point is one hundredth of a percent) cut to the federal funds rate. 
    After months of calling on the Fed to cut the federal funds rate, the Board finally lowered it by 50 basis points in September, the first cut since 2020. The Fed explained: “[t]he Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance.”
    Recent economic data shows that inflation has fallen to 2.1 percent, the lowest since February of 2021. There is no need for restrictive interest rates given this inflation data.
    Even as the economy remains strong, the demand for workers may be waning due to the Fed’s restrictive monetary policy. New statistics from the Department of Labor indicate that unemployment claims fell while the number of Americans collecting unemployment benefits rose, suggesting unemployed people are having a more difficult time landing jobs. 
    The Senators noted that borrowing costs, and in turn housing costs, are still too high. Lowering interest rates is key to unlocking more supply: rate cuts will lower the cost of capital, which would help tackle inflation by spurring more housing construction and consequently lowering housing prices. However, the Fed’s high interest rates have suppressed housing construction for years. 
    “If the Fed moves forward with more rate cuts, housing prices and mortgage rates would thus also likely drop, allowing more families to achieve the American dream,” wrote the senators. 
    Senator Warren has been ringing the alarm bells about the serious dangers of Chair Powell’s failure to lower interest rates: 
    In September 2024, Senators Elizabeth Warren, John Hickenlooper (D-Colo.), and Sheldon Whitehouse (D-R.I.) called on the Fed to cut the federal funds rate, currently at a two decade-high of 5.3 percent, by 75 basis points at the September Federal Open Market Committee meeting. 
    In July 2024, Senators Warren, Hickenlooper (D-Colo.), and Sheldon Whitehouse (D-R.I.) urged Fed Chair Jerome Powell, cut to interest rates at the Fed’s July Federal Open Market Committee (FOMC) meeting, in light of economic data showing that inflation was decreasing and very close to the Fed’s target. 
    In June 2024, Senators Warren, Rosen (D-Nev.), and Hickenlooper (D-Colo.) wrote to the Federal Reserve (the Fed), urging Chair Jerome Powell to cut the federal funds interest rates from the two-decade-high of 5.5 percent.
    In March 2024, Senators Warren and Sheldon Whitehouse (D-R.I.) sent a letter to Chair Powell, expressing concerns about the damaging impact of the Fed’s extreme 2022 and 2023 interest rate hikes, which have halted deployment of clean energy technologies and have undermined the Inflation Reduction Act’s climate and consumer benefits. The senators called on the Fed to cut interest rates to allow for continued progress on clean energy projects and the climate and economic benefits they provide. 
    In January 2024, Senators Warren, John Hickenlooper (D-Colo.), Jacky Rosen (D-Nev.), and Whitehouse sent a letter to Chair Powell, calling on the Fed to reverse its troubling interest rate hikes that have driven mortgage rates to 20-year highs and have put affordable housing out of reach for too many Americans. 
    In July 2023, Senator Warren sent a letter to Chair Powell, raising concerns about the disproportionate impact of the Fed’s monetary policy amid rising unemployment for Black workers. 
    In May 2023, Senator Warren led lawmakers in a letter to Chair Powell, calling on the Fed to pause interest rate hikes and respect its dual mandate of maximum employment and price stability, particularly in the wake of recent turmoil in the banking system following the collapses of Silicon Valley Bank, Signature Bank, and First Republic Bank. The lawmakers expressed serious concerns that the Fed’s monetary policy strategy of more rate hikes could trigger a recession, throw millions out of work, and crush small businesses. 
    In March 2023, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren questioned Chair Powell on the Fed’s monetary policy plan and its projection that the unemployment rate will rise sharply to 4.6% by the end of the year if the Fed continues to raise interest rates. Senator Warren highlighted that the Fed’s projections suggest that nearly 2 million people will lose their jobs, and that history shows that the Fed has a poor track record of containing moderate increases in unemployment.
    In November 2022, Senator Warren and Representative Madeleine Dean (D-Pa.) led their colleagues in sending a letter to Chair Powell, expressing concern and seeking answers about the Fed’s most recent economic projections, its intentions to continue to raise interest rates at a rapid pace, and its disturbing warning to American families that they should expect “pain” in the coming months. 
    In July 2022, Senator Warren published an op-ed in the Wall Street Journal warning that the Fed’s decision to aggressively raise interest rates risks triggering a devastating recession.
    In June 2022, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren called out Chair Powell for the Fed’s announced interest rate increases that wouldn’t address the key drivers of inflation. Chair Powell confirmed that the Fed’s interest rate increases will not bring down gas and food prices, two of the biggest drivers of inflation.

    MIL OSI USA News –

  • MIL-OSI Banking: Independent Petroleum Association of America Announces New Appointments to Board of Directors

    Source: Independent Petroleum Association of America

    Headline: Independent Petroleum Association of America Announces New Appointments to Board of Directors

    Nov 4, 2024 Independent Petroleum Association of America Announces New Appointments to Board of Directors

    Posted at 12:13h in Press Releases by

     WASHINGTON — Last week, the Independent Petroleum Association of America (IPAA) – advocating for thousands of oil and natural gas producers that develop 90 percent of wells nationwide – held its fall Board of Directors meeting as part of its 95th Annual Meeting and announced the following board appointments.

     

    Current IPAA Regional Director for Pennsylvania, Michael Hillebrand was announced as the new IPAA Chairman effective January 1, 2025. Hillebrand is President and CEO of Huntley & Huntley, LLC; Founder, Principal, and BOM of Olympus Energy, and current Chairman of the Pennsylvania Independent Oil and Gas Association (PIOGA).

     

     

    Jonny Heins, Senior Director of Corporate Affairs, Permian Resources was named an At-Large Director.

     

    Kate Farr, Senior Director of Government Affairs, Occidental Petroleum was named Chair of the IPAA Land & Royalty Committee.
    Andrew Vecera, Director of Advocacy Services, Ryan LLC was named Chair of the IPAA Tax Committee.
    View all IPAA board members here.

    Jeff Eshelman, IPAA President and CEO: “The organizations these industry leaders are a part of show the breadth of our industry and IPAA, from small to large independent producers with operations in basins across the country providing energy to Americans. The IPAA team is grateful to have these men and women contribute their expertise and talent to our association.”

    ###

    MIL OSI Global Banks –

  • MIL-OSI USA: Brics Summit: Which countries recently joined the bloc? Which want to and why? – FirstPost (India)

    Source: United States Institute of Peace

    Brics is expanding.

    The grouping which originally began with Brazil, Russia, India, China – was coined in 2001 by then Goldman Sachs chief economist Jim O’Neill – expanded to include South Africa in 2010.

    The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies.

    Its creation was initiated by Russia.

    [embedded content]

    The group is not a formal multilateral organisation like the United Nations, World Bank or the Organisation of the Petroleum Exporting Countries (OPEC).

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    The heads of state and government of the member nations convene annually with each nation taking up a one-year rotating chairmanship of the group.

    It now represents around 3.5 billion people – 45 per cent of the world’s population.

    Its combined economies are valued at over $28.5 trillion – nearly a third of the global economy.

    But which countries have recently joined? Which want to join now and why? And what does the expansion mean for the West?

    With Prime Minister Narendra Modi attending the 16th Brics Summit in Kazan, let’s take a closer look at how Brics is expanding.

    Which countries joined recently?

    Brics in 2023 invited six countries – Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates – to become new members of the bloc.

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    The formal invitation was made during a summit in August in Johannesburg.

    While all BRICS members had publicly expressed support for growing the bloc, there were divisions among the leaders over how much and how quickly.

    Members at the time said the move would help reshuffle a world order they view as outdated.

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    In January, five of these nations – Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates – said they were joining the BRICS bloc.

    Argentina declined the invitation to join.

    As per Al Jazeera, this came after President Javier Milei took office.

    Milei has vowed to increase ties with the West.

    However, Saudi Arabia later said it is not yet joining the group and that the matter is being considered by its leadership.

    Ultimately, Egypt, Iran, Ethiopia, and UAE joined the bloc.

    Which want to join now and why?

    Dozens of countries have voiced interest in joining the grouping.

    Algeria, Bolivia, Cuba, Democratic Republic of Congo, Turkiye, Comoros, Gabon, Kazakhstan, Vietnam, Thailand and Malaysia have all expressed interest in joining the forum.

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    Turkiye, a Nato member, formally requested to join BRICS in September.

    As p_er Bloomberg,_ Turkiye is looking to become part of the bloc as it eyes increasing its global influence.

    President Recep Tayyip Erdogan’s administration is looking further than its time-tested allies in the West, people familiar with the development told the outlet.

    Erdogan’s government believes the centre of geopolitics is moving away from the developed economies.

    Turkiye is also eyeing improving its economic relationship with Russia and China.

    Turkiye under President Tayyip Erdogan is looking to join Brics. Reuters

    This is a departure for the NATO member nation which has historically been suspicious of Moscow and been a US ally.

    Turkiye is also thought to be upset over the lack of forward movement in its decades-long attempt to join the European Union.

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    According to Al Jazeera, Thailand said it was interested in joining the grouping during the BRICS Dialogue with Developing Countries held in Russia in June.

    Malaysia too expressed interest in becoming a member ahead of a visit from Chinese Premier Li Qiang.

    The bloc “can help Malaysia’s digital economy grow faster by allowing it to integrate with countries that have strong digital markets and also take advantage of best practices from other members,” Rahul Mishra, associate professor at the Center for Indo-Pacific Studies at Jawaharlal Nehru University in New Delhi, told DW.

    “Thailand would also be able to draw investments in important industries including services, manufacturing, and agriculture,” Mishra added.

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    Bolivia’s President Luis Arce has expressed interest in BRICS membership.

    His government has said it is determined to curb dependence on the US dollar for foreign trade, instead turning to the Chinese yuan, in line with BRICS leaders’ stated aim to reduce dependence on the US currency.

    Algeria last July it has applied for BRICS membership and to become a shareholder in the New Development Bank, the so-called BRICS Bank.

    The North African nation is rich in oil and gas resources and is seeking to diversify its economy and strengthen partnership with China and other countries.

    The countries hope the bloc can level the global playing field. Most nations view BRICS as an alternative to global bodies viewed as dominated by the traditional Western powers and hope membership will unlock benefits including development finance, and increased trade and investment.

    Dissatisfaction with the global order among developing nations was exacerbated by the COVID-19 pandemic when life-saving vaccines were hoarded by the rich countries.

    “That so many countries are willing to go to Russia, deemed a pariah state not so long ago for having violated international law by invading Ukraine, confirms a trend followed by an increasing number of countries in the world: They don’t want to have to choose between partners,” Tara Varma, a visiting fellow at the Brookings Institute, told Al Jazeera.

    Adam Gallagher, writing for USIP.org, noting the size of the bloc, said there are clear economic benefits to joining the grouping.

    “Intra-BRICS trade is one area that the group has found its footing,” Gallagher said. He noted how the June 2024 BRICS foreign minister’s meeting encouraged “enhanced use of local currencies in trade and financial transactions” by Brics members.

    Gallagher said that countries like Malaysia, who want to join the grouping, are looking to form alliances across the globe and preserve their strategic autonomy.

    “For these countries, it’s not about taking sides. Some countries also believe BRICS membership will give them a greater voice and representation in international politics. It’s not all about anti-Western ideology,” Gallagher wrote.

    James Chin, a professor of Asian Studies at the University of Tasmania told DW “both Thailand and Malaysia are seen as middle powers.”

    “It’s better for them to join groups like BRICS so that they will have a larger voice in the international arena. But the major benefit will be trade,” Chin added.

    What does the expansion mean for the West?

    Experts say that these growing number of nations who want to join Brics shows that they want their financial independence – and that the established world order may be vulnerable.

    “In the aftermath of the war in Gaza, Russia and China have more effectively harnessed this anti-Western sentiment, capitalising on frustrations over Western double standards as well as the use of sanctions and economic coercion by the West,” Asli Aydintasbas, a Turkish foreign policy expert, was quoted as telling the Brookings Institute as per Al Jazeera.

    “It doesn’t mean that middle powers want to trade US dominance for Chinese, but it means they are open to aligning with Russia and China for a more fragmented and autonomous world.”

    As per Al Jazeera, Brics members and their associates clearly want to decrease their reliance on the US dollar and Europe’s Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.

    Malaysian Prime Minister Anwar Ibrahim walks with Indian Prime Minister Narendra Modi during Anwar’s ceremonial reception at India’s Presidential Palace Rashtrapati Bhavan in New Delhi, India, August 20, 2024. REUTERS

    This comes after Russia was cut-off from the system in the aftermath of the invasion of Ukraine in 2022.

    “China now has an alternative to the SWIFT payment system, though limited in use, and countries like Turkiye and Brazil increasingly restructure their dollar reserves into gold,” Aydintasbas added. “Currency swaps for energy deals are also a popular idea – all suggesting a desire for greater financial independence from the West.”

    As per CFR.org, Western nations until now have talked down the bloc as a threat.

    White House National Security Advisor Jake Sullivan has said Brics isn’t a geopolitical rival, while Treasury Secretary Janet Yellen has downplayed the de-dollarisation strategy of Russia and China.

    But some argue that the West needs to do some serious introspection.

    “The accusation that the West is arrogant toward the needs of the Global South is serious. It cannot be answered by offering ‘value-based partnerships’ and a ‘rules-based’ multilateralism when the interest of the BRICS is focused on changing those rules in global finance, trade, and other standard-setting procedures,” Günther Maihold, senior fellow at the German Institute for International and Security Affairs, was quoted as saying by CFR.org.

    “Ignoring BRICS as a major policy force—something the U.S. has been prone to do in the past—is no longer an option,” Tufts University scholars wrote in 2023.

    It remains to be seen how the US-led West will react.

    With inputs from agencies

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Company prosecuted for failing to complete reservoir safety works

    Source: United Kingdom – Executive Government & Departments

    The Environment Agency has prosecuted a Midlands company for failing to complete safety works on a Lancashire reservoir.

    Ward’s reservoir near Belmont, Lancashire. Credit: Environment Agency

    • Midlands-based company fails to carry out safety recommendations at reservoir near Belmont
    • Enforcement notice required completion of safety works

    The Environment Agency has prosecuted a Midlands company which failed to safely maintain Ward’s Reservoir in Lancashire, putting residents in nearby Belmont at risk.

    At Kidderminster Magistrates’ Court on 8 October 2024, Blue Lagoon Heritage Limited, of Old Marlbrook Quarry, Lydiate Ash, Bromsgrove, admitted failing to comply with an enforcement notice. This was issued under the Reservoirs Act 1975.

    This required the company to complete essential maintenance and construction works in the interests of public safety. The company was ordered to pay fines and costs of £5,445.

    Safety checks

    The court heard that a notice was served on the company by the Environment Agency’s National Reservoir Safety Team in May 2021. This was to carry out safety measures under the supervision of a qualified civil engineer.

    However, the company by October 2021 had failed to carry out the work and weekly safety checks by Environment Agency officers were started.

    In June 2022, the Environment Agency intervened to protect public safety, commissioning contractors to inspect and free the outlet valve.

    This allowed levels in the reservoir to be managed and maintained at 5.25 metres below the maximum top water level, significantly reducing its risk of failure.

    In the continued absence of adequate management by the company the Environment Agency has since been conducting site visits and engineer safety checks.

    The reservoir spillway which was not maintained. Credit: Environment Agency

    Karl Hunter, Enforcement Advisor for the Environment Agency’s National Reservoir Safety Team, said:

    The director and owners of Blue Lagoon Heritage Limited failed to respond to advice and enforcement notices to improve the unacceptable and unsafe condition.

    This failure to comply came despite repeated site inspections and warnings from Environment Agency officers and independent expert engineers.

    This caused unacceptable risks to local residents and businesses in the village of Belmont and surrounding areas downstream of the reservoir.

    The owners of all Large Raised Reservoirs are regulated under the Reservoirs Act 1975 by the Environment Agency.

    The Act requires owners to maintain their reservoirs in full compliance with safety recommendations, set periodically by independent reservoir engineers.

    Blue Lagoon Heritage Limited took ownership of Ward’s Reservoir in 2019 and has consistently failed in its legal duty.

    We will continue to work to tackle inadequate maintenance of reservoirs which puts lives at risk. We are committed to ensuring that reservoir safety standards are adhered to.

    The charge:

    That Blue Lagoon Heritage Limited, (Company number 07390323) by 29 July 2021 as undertaker of Wards (Blue Lagoon) Reservoir, had failed to comply with the requirements of a Notice.

    This was made on the 20 May 2021 under Section 10(7)(b) of the Reservoirs Act 1975. This required safety measures to be put into effect at Wards (Blue Lagoon) Reservoir under the supervision of a qualified civil engineer by the 28 July 2021. Contrary to Section 22(1)(b) of the Reservoirs Act 1975.

    Background Information

    Reservoirs in England and Wales capable of holding more than 25,000 cubic metres of water must be registered with the Environment Agency.

    The owners (‘Undertakers’) must comply fully with the requirements of the Reservoirs Act 1975.

    The Act is designed to provide a regulatory framework for maintaining reservoir safety to prevent an uncontrolled release of water and risk to life.

    People can report environmental incidents to our 24/7 hotline on 0800 80 70 60 or Crimestoppers anonymously and in confidence on 0800 555 111.

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –