The United States, through USAID, announced it provided an additional $26.7 million to the Global Financing Facility (GFF) in a continued push to support health workers and advance primary health care. The announcement will be highlighted on the sidelines of next week’s GFF 19th Investors’ Group meeting and Trust Fund Committee meeting in Abuja, Nigeria. This funding will strengthen country and global efforts to increase access to resilient, responsive, and sustainable primary health care and health workforces.
With these newly-announced funds, USAID has provided more than $30 million to the GFF since 2023, securing a seat on the GFF Trust Fund Committee. This position enables USAID to contribute to the GFF’s strategic priorities and participate in the oversight and approval of grants. To date, the GFF has committed more than $1.4 billion from its Multi-Donor Trust Fund, linked to over $11 billion in World Bank financing.
The GFF is a multi-stakeholder global partnership that currently supports 36 low- and middle-income countries in Africa, Asia, and Latin America with the highest maternal, newborn, and child mortality burdens and significant gaps in financing. By working closely with partner country governments and the World Bank, the GFF incentivizes national investment in primary health system capacity to improve the health of women, children, and adolescents. To date, every one dollar of GFF grant financing has brought in an additional seven dollars in the World Bank Group funds for country health investments. A key component of the GFF is also providing technical assistance and financing to develop national strategies to improve the health of women, children, and adolescents.
This partnership between USAID and the GFF will enhance governments’ capacity to leverage support across partners, align investments around national priorities, and strengthen primary health care. Countries with health systems anchored in a strong health workforce are proven to deliver better results, expand service coverage, and lower maternal and child mortality from a variety of causes. By partnering with the GFF, USAID is working with country partners to strengthen health systems to effectively reduce inequities in life expectancy and build resilience against health threats.
Orlando, Fla., Nov. 01, 2024 (GLOBE NEWSWIRE) — CNL Strategic Capital, a public, non-traded company that seeks to provide current income and long-term appreciation to its investors, has launched its second follow-on offering for up to $1.1 billion of shares.
CNL Strategic Capital’s second follow-on offering will maintain its investment strategy that seeks to acquire and grow durable, middle-market businesses for its portfolio. The second follow-on offering was declared effective by the U.S. Securities and Exchange Commission on Nov. 1, 2024, and includes up to $100 million in shares to be issued pursuant to the company’s distribution reinvestment plan.
The initial public offering closed to investors on Nov. 1, 2021, after raising aggregate gross offering proceeds of approximately $264.7 million from the sale of common shares. The follow-on public offering that ran from Nov. 1, 2021, through Nov. 1, 2024, raised aggregate gross offering proceeds of approximately $704.8 million from the sale of common shares. A combined total of $969.5 million was raised through the initial and follow-on public offerings.
About CNL Strategic Capital CNL Strategic Capital is a publicly registered, non-traded limited liability Company that seeks to provide current income and long-term appreciation to individuals by acquiring controlling equity stakes in combination with loan positions in durable and growing middle-market businesses. The Company is externally managed by CNL Strategic Capital Management, LLC and Levine Leichtman Strategic Capital, LLC (LLSC). For additional information, please visit cnlstrategiccapital.com.
About CNL Financial Group CNL Financial Group (CNL) is a leading private investment management firm providing alternative investment opportunities. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $36 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit cnl.com.
About Levine Leichtman Strategic Capital LLSC is an affiliate of Levine Leichtman Capital Partners, LLC (LLCP), a middle-market private equity firm with a 40-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.
LLCP’s global team of dedicated investment professionals is led by 10 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP has managed approximately $14.8 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $10.2 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt. For additional information, please visit llcp.com.
The information in this press release may include “forward-looking statements.” These statements are based on the beliefs and assumptions of CNL Strategic Capital’s management and on the information currently available to management at the time of such statements. Forward-looking statements generally can be identified by the words “believes,” “expects,” “intends,” “plans,” “estimates” or similar expressions that indicate future events. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond CNL Strategic Capital’s control. Important risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements include the risks associated with the Company’s ability to pay distributions and the sources of such distribution payments, the Company’s ability to locate and make suitable investments and other risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K and the other documents filed by the Company with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
Headline: Members spotlight development issues in trade and environmental sustainability discussions
“Here we are at the end of 2024 and MC14 isn’t that far away. We’re committed to having concrete outcomes and so as part of achieving that, this session will be important,” said Richard Tarasofsky of Canada, which co-convenes TESSD together with Costa Rica, in opening the meeting. He added that a high-level TESSD plenary stocktaking session will be held on 4 December to seek members’ support for the proposed way forward towards achieving concrete outcomes at MC14 that reflect both the technical discussions in working groups as well as the written outcomes of those groups.
“We are really making an effort to dig deeper into the development dimension, including in how we select topics such as climate adaptation,” said Mr. Tarasofsky.
The four TESSD working groups advanced substantive work in their respective discussions at the meeting.
In the Working Group on Trade-related Climate Measures (TrCMs), members deliberated on the use of TrCMs for achieving climate change adaptation and focused on developing country perspectives. They heard presentations from the International Institute for Sustainable Development, the WTO Secretariat, the World Bank, Barbados and Samoa.
In the Working Group on Environmental Goods and Services, members exchanged views on trade-related aspects of water management and climate change adaptation, considering presentations on water management technologies and developing country experiences from the UN Environment Programme (UNEP) Copenhagen Climate Centre and the UN Climate Technology Centre & Network (CTCN). Members also considered presentations on identification and trade promotion of environmental goods and services from Australia, Finland and the WTO Secretariat.
In the Working Group on Subsidies, members considered presentations on critical minerals, including how international cooperation can support developing countries in addressing challenges and seizing opportunities in the sector. The International Energy Agency, the African Development Bank, Australia and the Philippines provided presentations.
In the Working Group on Circular Economy-Circularity, members heard from the Global Batteries Alliance on batteries passports and on circularity of batteries. They also heard from Rwanda on implementing circular economy principles in the transport sector. Members also were briefed on new analytical work from the International Chamber of Commerce, Organisation for Economic Co-operation and Development, and the Forum on Trade, Environment and SDGs (TESS).
Across the four working groups, members also discussed possible ways forward for outcomes at MC14, including a compilation and mapping of policy measures shared by members, practical ways to enhance cooperation, and expanding and refining the TESSD indicative list of environmental goods and services. They also considered developing guidelines for subsidy design and recommendations to enhance transparency, trade-related guidelines for a circular economy and trade‑related good practices for circularity in priority sectors.
Presentations and documents related to the working group meetings are available here.
At the close of the two-day meeting, Ana Lizano of Costa Rica, TESSD co-convenor, said: “We have heard support as well as constructive feedback from the participants to the suggestions on the way forward presented by the facilitators of the four groups. So the co-conveners, together with the facilitators, will put together the most balanced outlook possible for 2025 and towards the next Ministerial Conference.”
“We will continue working on bringing to the table more voices from the developing and least-developed members to consolidate an agenda that is not only balanced but also representative of the needs, opportunities, and interests of all TESSD participants,” she said.
Guided by their 2021 Ministerial Statement, TESSD seeks to complement the work of the WTO Committee on Trade and Environment and advance discussions at the intersection of trade and environmental sustainability towards identifying concrete actions that members could take individually or collectively. The initiative, which is open to all WTO members, is currently co-sponsored by 77 members representing all regions and all levels of development.
First Minister thanks people for patience as recovery operation continues.
A further meeting of the Scottish Government’s Resilience Room (SGoRR) has been chaired by First Minister John Swinney to coordinate the recovery response to Storm Éowyn.
Due to the severity and impact of the storm, there is significant disruption to parts of the country. This includes around 35,000 properties without power and continued transport disruption with road closures and rail, bus, flight and ferry cancellations. It is expected to take some time to get all services fully restored.
Utility companies, national agencies and local authorities are working at pace to restore power and assess the impact, including responding to significant damage, removing fallen trees and debris, to ensure services can fully resume in the coming days.
The First Minister joined a Ministerial COBR meeting chaired by the Chancellor of the Duchy of Lancaster Pat McFadden earlier this evening. The First Minister also spoke with the Prime Minister today to discuss the ongoing response to Storm Éowyn and the impact on Scotland.
First Minister John Swinney said:
“I want to thank everyone who followed Police Scotland advice not to travel and express my sincere gratitude to the emergency services and to those working in the public, private and third sector who are continuing to support people and communities across the country.
“With yellow warnings in place for wind, snow and ice over the weekend, it is clear the severity of Storm Éowyn will continue into next week and this will have an impact on the speed at which utilities and local services can fully resume.
“Given the damage and disruption facing the network across the United Kingdom, utility companies are under significant pressure and are working in challenging conditions. I have stressed the importance of getting power restored as quickly as is practically possible and have been assured that assessments are being made at pace to ensure power is restored to affected properties in Scotland as soon as possible. Alongside our partners, Ministers are being updated regularly and ensuring all steps are being taken.
“I am pleased at the progress made to restore power to many communities over the course of today however a significant number of properties remain without power. Utility companies are continuing to provide support to customers, including ensuring provisions are in place for the most vulnerable.
“I want to thank people for their continued patience and encourage them to take extra care and look out for each other, particularly those who are supporting vulnerable neighbours and family members.
“As we look ahead to Monday, partners are working at pace to ensure services can resume next week. Local authorities – who are responsible for school closures – will be working to ensure all buildings meet the required safety standards to reopen safely to pupils. We would expect decisions on schools to be clearly communicated by local authorities to parents, pupils and staff, with as much advance warning as possible, and would encourage all parents to follow that advice.
“People should prepare for continued disruption, especially in areas that have been impacted by a loss of power, and I encourage everyone to follow advice being issued by local authorities, as well as continuing to follow updates from national agencies.”
Background
SGoRR was attended by the Deputy First Minister Kate Forbes, Transport Secretary Fiona Hyslop, Justice and Home Affairs Secretary Angela Contance, Cabinet Secretary for Health and Social Care Neil Gray, Education Secretary Jenny Gilruth, Rural Affairs and Islands Secretary Mairi Gougeon, Acting Net Zero and Energy Secretary Gillian Martin and Cabinet Secretary for Constitution, External Affairs and Culture Angus Robertson. They were joined by representatives from the Met Office, Police Scotland, Transport Scotland, SEPA, transport and utilities companies and resilience partners.
The latest Met Office weather warnings are available on the Met Office website.
Flood alerts are issued by the Scottish Environmental Protection Agency and can be viewed on their website.
Follow Traffic Scotland for the most up-to-date information on the trunk roads throughout the warning periods, via their website, social media channels and radio broadcasts. Updates on ScotRail services and road conditions are available online.
To report a power cut or damage to electricity power lines or substations call the SP Networks national Freephone number 105. More information on what to do during a storm can also be found on SP Energy Website.
During a power cut firefighters can be called to fires started by candles or portable heaters. For advice on how to stay safe during a power cut visit Scottish Fire and Rescue Website.
Financial Secretary Paul Chan completed the final day of his visit in Riyadh, Saudi Arabia, yesterday by participating in several events at the Future Investment Initiative (FII) with his delegation.
Speaking at a themed session at the conference, Mr Chan highlighted that Hong Kong is actively developing as an international centre for green tech and green finance, contributing to the future of the New Silk Road.
Also during the FII, Mr Chan witnessed the signing of co-operation agreements between a number of Hong Kong organisations and enterprises with their Saudi counterparts.
Among such agreements are a memorandum of understanding between the Hong Kong Monetary Authority and the Saudi Arabia Public Investment Fund to jointly establish a new investment fund of up to US$ 1 billion and a pact between the Hong Kong Science & Technology Parks Corporation and the FII Institute to join the institute’s investment ecosystem.
Earlier in the day, the Financial Secretary attended the listing ceremony of the SAB Invest Hang Seng Hong Kong Exchange Traded Fund at the Saudi Exchange.
The product, developed in collaboration with Saudi Awwal Bank’s subsidiary, SAB Invest, provides Middle East investors with opportunities to invest in Hong Kong’s capital markets.
After concluding his visit, Mr Chan departed for Hong Kong last night and is scheduled to arrive in the city this afternoon.
KH Group Plc Stock Exchange Release 1 November 2024 at 8:00 am EET
KH Group Plc’s Business Review January–September 2024: Moderate profitability in a demanding market
This is the summary of the Business Review for January–September 2024. The full Business Review is attached to this release and is also available on the company’s website atwww.khgroup.com.
KH Group, July–September 2024 pro forma
Net sales amounted to EUR 85.7 (91.1) million.
Operating profit was EUR 3.3 (4.1) million.
The net sales of KH-Koneet were slightly better than in the comparison period and operating profit remained nearly unchanged from the comparison period.
Indoor Group’s net sales and operating profit were below the level of the comparison period.
NRG’s net sales and operating profit were below the level of the comparison period.
KH Group divested its holdings in HTJ.
KH Group, January–September 2024 IFRS
Net sales amounted to EUR 253.2 (161.0) million. The figure for the comparison period includes net sales accumulated in May–September 2023 and HTJ is classified as a discontinued operation retroactively.
Operating profit was EUR 0.8 (-17.5) million.
Net profit for the period was EUR -3.3 (-12.1) million.
Earnings per share (undiluted and diluted) were EUR -0.02 (-0.15).
Equity per share at the end of the review period was EUR 1.30 (1.39).
Return on equity for rolling 12 months was -7.1% (-14.5%).
The Group’s cash and cash equivalents amounted to EUR 11.6 million at the end of the review period
Gearing at the end of the review period was 195.6% (195.4%).
Gearing excluding lease liabilities was 120.6% (115.1%).
CEO Ville Nikulainen:
“Our consolidated pro forma net sales and operating profit declined year-on-year. KH-Koneet’s net sales increased moderately and operating profit was nearly at the same level as in the comparison period, which means that the market share increased in a declining market. For Indoor Group, the general market uncertainty, the increase to the general value-added tax rate in Finland and the deployment of a new ERP system in spring 2024 had a negative impact on net sales and operating profit.
On 15 August 2024, KH Group announced the launch of an extensive operating model reform programme aimed at improving the group company Indoor Group’s profitability. The reform includes development initiatives to stabilise Indoor Group’s financial situation in the challenging furniture industry market environment. The company aims for an annual operating profit improvement of at least EUR 10 million by the end of 2026. Based on current information, a significant part of the targeted profitability improvement is estimated to be realised already during 2025. KH Group published a stock exchange release on 10 October 2024 concerning the reform of Indoor Group’s operating model and change negotiations.
Nordic Rescue Group’s pro forma net sales and operating profit decreased year-on-year during the seasonally weaker quarter. The demand for rescue vehicles in Sweden has remained at a good level but, in Finland, the budgeting phase of the wellbeing services counties has slowed down the accrual of new orders during autumn 2024.
In the fourth quarter, the business areas will focus on securing net sales and operating profit as well as improving the efficiency of working capital. KH Group’s change in strategy is progressing according to plan.
On 9 August 2024, the company updated its earlier guidance on net sales and operating profit for 2024. The calculation of the guidance is based on Indoor Group’s lower than expected net sales and operating profit in both the first and second half of 2024. According to the updated guidance, the company estimates, with the current Group structure, to reach pro forma net sales of EUR 340–360 million and operating profit of EUR 4–7 million in 2024.”
Events after the review period
During the current year, Indoor will continue to implement measures aimed at improving profitability. KH Group published a press release on 10 October 2024 concerning the reform of the operating model and change negotiations.
Future outlook
KH Group’s medium-term objective is to become an industrial group built around the KH-Koneet business and to divest other business areas in line with previous strategy. At the same time, active developments will continue regarding other business areas. Exit planning and the assessment of exit opportunities for the other business areas will also continue.
On 9 August 2024, the company updated its earlier guidance on net sales and operating profit for 2024. According to the updated guidance, with the current Group structure, the company estimates pro forma net sales for 2024 to be EUR 340–360 million and operating profit to be EUR 4–7 million.
KH GROUP PLC
Ville Nikulainen CEO
FURTHER INFORMATION: CEO Ville Nikulainen, tel. +358 400 459 343
DISTRIBUTION: Nasdaq Helsinki Ltd Major media www.khgroup.com
KH Group Plc is a Nordic conglomerate operating in business areas of KH-Koneet, Indoor Group and Nordic Rescue Group. We are a leading supplier of construction and earth-moving equipment, furniture and interior decoration retailer as well as rescue vehicle manufacturer. The objective of our strategy is to create an industrial group around the business of KH-Koneet. KH Group’s share is listed on Nasdaq Helsinki.
Trifork Group AG Company announcement no. 39/2024 Schindellegi, Switzerland – 1 November 2024 Interim Financial Report for the third quarter ending 30 September 2024
Trifork Group reports -0.8% revenue growth in the core business, adjusts full year-outlook, and targets around EURm 10 in annual cost savings to improve margins
CEO Jørn Larsen comments on the third quarter: “2024 has proven to be one of Trifork’s most challenging years. The private sector business environment for many of the services we provide remained difficult and unpredictable through the third quarter, but we cannot only blame the market. Some of our units have struggled to secure new customers or new engagements with existing customers. This will be fixed, based on the ways of working of our well-performing units.
We underestimated the negative margin impact from persistently lower-than-expected revenue growth throughout the year. In response, we will now extend our cost savings program with the aim to reduce overall annual cost by around EURm 10. We will introduce a 10% cut in selected management remuneration led by myself and our CFO, make further rightsizing in low-performing units, and reduce other costs until we see an improved market situation. Reducing our workforce in certain units is a necessary but difficult decision that weighs heavily on me and our business unit leaders and we will work closely together to make the right decisions. We do not know when a market improvement will materialize, but with a broader customer network and pipeline than ever before, we are prepared to capitalize when it does, at which time we aim to return to double-digit growth with a double-digit EBIT margin.
These challenges in parts of the organization are offset by many positive developments too. Our Public sector business, accounting for 39% of revenue, is back on track with healthy growth and a robust pipeline. Our strategic focus on the U.S. market is also yielding results, with solid growth and a promising pipeline for 2025. US revenue increased by 56% in Q3 and 29% in the first nine months compared to the same periods in 2023. Additionally, our Run business is building momentum for recurring revenue growth, and our new office in Oman is off to a strong start, powered by our proprietary platforms. Finally, our most valuable companies in Trifork Labs are performing very well.”
Third quarter 2024
Trifork Group
In Q3 2024, Trifork Group revenue amounted to EURm 47.1, a net decline of -1.8% from Q3 2023, the combined result of an inorganic growth of 4.9% and an organic decrease of 6.8%. In the quarter, Trifork had EURm 0.5 less revenue from the more volatile and non-core hardware and third-party licenses compared to Q3 2023. Adjusted for this, Group revenue growth was -0.8% in Q3 2024.
Trifork Group adjusted EBITDA amounted to EURm 5.3, corresponding to 11.3% margin. No special items were recorded.
Trifork Group EBIT amounted to EURm 1.1, corresponding to 2.4% EBIT margin.
Trifork Group net income amounted to EURm 1.6.
Trifork Segment
In Q3 2024, adjusted EBITDA in the Trifork Segment amounted to EURm 5.8 (Q3 2023: EURm 7.0). The adjusted EBITDA margin was 12.3% (Q3 2023: 14.5%).
Sub-segments
Inspire revenue increased by 11.6% to EURm 0.8 and realized an adjusted EBITDA of EURm -0.6 (Q3 2023: EURm -0.9).
Build revenue declined by -2.9% to EURm 34.5 and realized an adjusted EBITDA margin of 11.3% (Q3 2023: 18.5%).
Run revenue increased by 2.2% to EURm 11.7. Adjusted for volatile and non-core hardware and third-party licenses, revenue growth was 8.4%. The adjusted EBITDA margin was 33.5% (Q3 2023: 23.2%).
Trifork Labs
In Q3 2024, fair value adjustment of Trifork Labs investments was EURm 1.7. The book value of all minority investments was EURm 75.4 at the end of the quarter. EBT from Trifork Labs was EURm 2.1 in the quarter.
The financial outlook for 2024 is adjusted as follows:
Revenue is expected in the range of EURm 205-208 (previously EURm 215-220) equal to -1.4 to 0.0% growth. The revised revenue guidance is explained by lower revenue expectations in the fourth quarter, including around EURm 7 (license and hardware sales) in revenue on already agreed engagements now delayed to 2025.
Adjusted EBITDA in Trifork Segment is expected in the range of EURm 25-27 (previously EURm 31-34). The revised guidance on adjusted EBITDA in Trifork Segment is explained by the lower revenue outlook and the additional costs of reorganizations in Q3 and Q4.
EBIT in Trifork Group is expected in the range of EURm 8-10 (previously EURm 14-17).
As the planned transaction in our managed security services is not yet to be closed, we have excluded any potential effect from its potential deconsolidation in the guidance. We expect a positive effect between EURm 3-5 on unadjusted EBITDA and EBIT when the process is completed.
Main events in the third quarter of 2024
Inspire Q3 is seasonally a quarter with low conference activity. Hence, the conference activities in the quarter were primarily focused on preparing for GOTO Copenhagen and GOTO Chicago in October. The online GOTO universe continued to grow in with 1.9 million combined views on YouTube and Instagram in Q3, and 74.6 million views in total. At the end of the quarter, we had 1.0 million subscribers. We are continuously sharpening our planning of events and have optimized our cost structure through the year. The improved earnings momentum continued in Q3, and in the first three quarters Inspire improved EBITDA with EURm 0.8 compared to the same period last year.
Build Build revenue declined by 2.9% compared to the same quarter last year. The weakness came primarily from the private sector, which accounted for 61% of revenue. Corporates continued to take a cautious approach to IT spending in light of the global economic uncertainty, geopolitical uncertainty, and higher interest rates compared to previous years. The continued low activity from private sector customers has been particularly visible in UK, whereas our private sector engagements in the US displayed comparatively better performance. Danish public revenue grew 15% in Q3 compared to the same quarter last year. After a soft start to the year with disruptions to existing customer engagements, our Danish Public business has gained momentum with several key wins and ramp-up of delivery on existing framework agreements won in previous quarters and years. Public wins in Q3 included The IT and Development Agency at the Danish Ministry of Taxation as well as The Danish Business Authority.
Run Revenue in Run increased by 2.2% in Q3 compared to the same quarter last year. Our Cloud Operations business has built a solid sales pipeline supported by our new Contain cloud product offering. This is driven by both public and private customers. As announced in Q2, our managed services security business is in discussion with potential strategic partners in order to accelerate growth and market share. Our Splunk services gained momentum in Q3 with key customer wins and a new product offering for SME’s compliance with NIS2 cyber regulation.
Trifork Labs In Q3, Trifork Labs completed no new investments or exits. One Labs company completed an internal financing round. Activities in the quarter primarily included reviewing investment proposals from new investors in individual Labs companies. The most valuable companies in Trifork Labs are performing to a satisfactory degree. Dividends of EURm 0.2 were received in the quarter.
Results presentation
Trifork will host a results presentation and Q&A session with CEO Jørn Larsen and CFO Kristian Wulf-Andersen today, 1 November 2024 at 11:00 CET in a live webcast that can be accessed via the following link, or via the investor website:
Investors Frederik Svanholm, Group Investment Director & Head of Investor Relations frsv@trifork.com, +41 79 357 7317
Media Peter Rørsgaard, CCO Fintech & Head of Press Relations pro@trifork.com, +45 2042 2494
About Trifork Group Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,278 professionals across 76 business units in 15 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.
Days from the US presidential election, the polls are showing the outcome of the race between Kamala Harris and Donald Trump remains a nail biter.
With the United States our closest ally, the result could have potential implications for Australia in areas such as climate change policy, defence and the economy. If there is a Trump victory, Prime Minister Anthony Albanese will also have the challenge of building a relationship with an unpredictable character.
To discuss the state of the contest and what comes next, we’re joined by Bruce Wolpe, senior fellow at the United States Studies Centre at the University of Sydney. Wolpe worked with the Democrats in Congress, and on the staff of Julia Gillard. Last year, he authored the book, Trump’s Australia.
Wolpe regards the election as too close to call.
They’re just deadlocked in two fundamental respects. National head-to-head across the country – the popular vote – they’re 49-48, 47-47, no one cracking 50, and there’s no clear favourite. And then that same pattern exists in all of the seven swing states that will decide the election per the Electoral College.
In terms of key issues:
Just as it is here in Australia, hip pocket is the strongest determinant of how you will vote, and so inflation and the state of the economy, in the lived experience, is the number one issue. Americans and Australians share the same experience over the past post-COVID years where there’s been an outbreak of inflation and high interest rates. And that means that the basket of goods that you buy day in, day out, week in, week out, from the supermarket to your petrol to your insurance prices are up between 10 and 40%.
The second big issue is immigration. As I’m sure you know from looking at the news over the past three years, just following things, the southern border with Mexico has been effectively out of control. It’s back under control but in that time, perhaps millions of people have flowed into the United States.
The third big issue is abortion rights, reproductive health rights and its future. The Supreme Court two years ago repealed Roe v Wade, which established a right found in the Constitution for women to take care of their reproductive health services. That’s the first time that a universal human constitutional right has been repealed since Dred Scott in the Civil War [denying slaves’ rights]. Three generations of women have grown up with the protections for them.
This has become a very powerful issue. And 52% of all voters are women.
On what either a Harris or a Trump administration might look like for Australia:
I think with Harris, we would just see very strong continuity with Biden. I mean, on foreign policy issues, they really have worked together.
The relationship with Australia is fine. Her relationship with the Prime Minister is absolutely fine. They know each other, can work together, a very comfortable working relationship.
[As to] Trump and Australia: first, I really have to say in the first [Trump] term, I think Australia had the most untroubled relationship with Trump than any other country in the world, and that includes Israel, that includes Europe, that includes Canada.
There is a structural trade surplus that the United States has with Australia. So Australia is not number one on the hit list of nations that are, quote, taking advantage of the United States in their trade agreements. […] It will start off in Trump’s head with all the countries that he wants to go after – I don’t think Australia is high on the list.
However, on a personal level, Wolpe says there might be some issues between Trump and Albanese:
I think personally it will be rocky at the start for several reasons. First, Trump will be briefed on everything that the Prime Minister has said on him and his presidency. And he attacked Trump for the January 6th insurrection. He’s for abortion rights and attacked the ruling of the Supreme Court. He’s for gun control, and Australia has a completely different posture on gun control, and Trump is strong on the Second Amendment. If Trump looks at the agenda of the Albanese government, it is a mirror image of Joe Biden’s domestic policy agenda adjusted for realities in both countries. But it’s the same deal.
Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Sampo plc, stock exchange release, 1 November 2024 at 8:30 am EET
Sampo plc’s share buybacks 31 October 2024
On 31 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:
Sampo plc’s share buybacks
Aggregated daily volume (in number of shares)
Daily weighted average price of the purchased shares*
Market (MIC Code)
3,765
40.77
AQEU
38,357
40.77
CEUX
792
40.80
TQEX
49,634
40.77
XHEL
TOTAL
92,548
40.77
*rounded to two decimals
On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.
After the disclosed transactions, the company owns in total 9,780,640 Sampo A shares representing 1.78 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.
Details of each transaction are included as an appendix of this announcement.
On behalf of Sampo plc, Morgan Stanley
For further information, please contact:
Sami Taipalus Head of Investor Relations tel. +358 10 516 0030
Distribution: Nasdaq Helsinki Nasdaq Stockholm Nasdaq Copenhagen London Stock Exchange The principal media FIN-FSA DEN-FSA www.sampo.com
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The Federal Financial Supervisory Authority (BaFin) warns consumers about the website ifsinvesting.com. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
The operators of the website refer to themselves only as IFSinvesting without stating the company’s legal form. A business address in London, United Kingdom, is provided.
BaFin has recently become aware of a number of websites with almost identical content and has also warned consumers about them. On all of the websites, the following sentence is displayed at the top of the homepage: “Step Into the Trading Arena with Confidence & [name of website]“.
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 BankingAct (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.
Bank “ROSSIYA” entered the top 50 credit organizations in the rating of “Medialogiya”
Bank “ROSSIYA” was included in the top 50 credit institutions based on the results of September 2024 in the media rating compiled by the authoritative monitoring platform “Medialogia”.
Media rating is based on an analysis of publications covering more than 88 thousand sources, including TV, radio, newspapers, magazines, news agencies and online media.
The basis for constructing the rating was the media index – an indicator of the qualitative state of the information field formed by the media around the brand. Analysts took into account the influence of each source of information, the nature of brand mentions in messages and other factors.
In September, key events in the Bank’s information field were related to the improvement of deposit conditions, as well as participation in socially significant events.
Reference:
Medialogia is an independent research company based on information technology, specializing in real-time media and social media analysis.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
Source: Hong Kong Government special administrative region
Delegation of judges and judicial officers departs for Sichuan for exchange visit Delegation of judges and judicial officers departs for Sichuan for exchange visit *********************************************************************************
The following is issued on behalf of the Judiciary: A delegation of judges and judicial officers from the Hong Kong Judiciary will depart for Sichuan for an exchange visit programme on Sunday (November 3). The programme is part of the on-going professional exchanges between judges and judicial officers of Hong Kong and the Mainland. The delegation includes 20 judges and judicial officers. It is led by Mr Justice Jeremy Poon, Chief Judge of the High Court, with Madam Justice Carlye Chu, Vice-President of the Court of Appeal of the High Court, as the deputy head. During this visit, the delegation will engage in exchanges and attend discussion forums and thematic talks on various topics. These will mainly include the Constitution and the Basic Law, judicial system, experience in handling litigations, company law and insolvency, juvenile court as well as the latest developments of the country. The delegation will also visit court buildings and facilities relating to technology and culture, etc. The delegation will conclude the visit and return to Hong Kong on November 10.
DAVID PENBERTHY, HOST: Well, it’s a very opportune breaking at eight this morning, because on the same day that major reforms and savings are being announced to the NDIS, we have the Minister for the NDIS, not just here in Adelaide, but here in our studio in Adelaide. Bill Shorten is with us here at FiveAA HQ this morning. Minister, good morning and thanks so much for coming in.
BILL SHORTEN, MINISTER FOR THE NDIS AND GOVERNMENT SERVICES: Good morning gentlemen. Thanks for having me here.
PENBERTHY: Now look, we’ve had, we’ve done a lot of work lately. Mr. Shorten, on the NDIS. And we’ve had a few local cases that have been in the headlines. There was another one too, that I spoke to your office about myself earlier this week, which very, very kindly has been resolved. But in a in a broader sense, we’ll start with the big sort of headline figures. This thing has grown like mad and was on target to become, I think, the biggest budgetary item, bigger than the age pension. What are the reforms that you’ve put in place? How much are you going to save, and is it possible to do that without reducing the level of service that people have come to rely on?
SHORTEN: Yes, it is possible to improve the scheme without undermining its fundamental values. When I became Minister nearly three years ago, the reality is there was over half a million people on the scheme, changing a lot of lives for the better, hundreds of thousands of lives for the better, a lot of very good service providers. But there has been insufficient attention to the administration of the scheme and that has changed. So, one issue was that the scheme was almost becoming the only lifeboat in the ocean. So as soon as you have a disability, everyone says, oh, that’s an NDIS matter. Well, the fact of the matter is, the NDIS is only designed for personal budgets for the most profoundly disabled, not for everyone.
But the states have been good. Peter Malinauskas, Mally, he’s a rock star. He’s been helping lead the States and working with Nat Cook here to make sure we start developing with Amanda Rishworth, working services up outside the scheme. So that’s one reform, not everyone needs to flock to the NDIS. And within the scheme itself, there was no back-office payments checking. Like, I don’t want to make people, you know, just sort of drive off the road as they’re listening here. But it was possible for people to draw down 20 and $30,000 out of their packages with no invoices.
We see some service providers, you know, you have a shower chair and then you have an NDIS shower chair. And guess what? They’re identical. But when it’s called an NDIS shower chair, it’s four times as much. We’ve now made that illegal. 92% of service providers are currently unregistered. Like, imagine having a system where you can drive on Adelaide roads. You can have the driver’s license system or the not the driver’s license system. So, we’re overhauling how we register. We’re overhauling how we assess people, making it consistent. We also, we’ve put a sort of in and out list what you can spend your resources on. And whilst that’s led to tears at bedtime by some of the dodgy providers with crystal therapy and other therapies which are just not evidence based, the truth of the matter is it’s now providing clarity.
All of this means that we can get the growth of the scheme to about 8% when, the year before I became the Minister, it was 23%, but next year we’re on track to have growth at only 12%, so we’re still investing.
PENBERTHY: So, about a billion bucks, you’re looking at saving?
SHORTEN: Well, we’ve saved a billion. We’ve spent $1 billion less than we thought we would in May. So, for the financial year 2023/24, we thought it would be 42.5 billion. And it’s actually come in under $42 billion, which means that we’re just running the scheme better. That doesn’t mean that we’re not providing services. There’ll be more people on the scheme next year than this year. There’ll be more money invested in people next year than this year. But what we are saying is, if you’re getting a service, is it a quality service? Is it, are you not being price gouged? You know, yesterday in the Downing Street court in Sydney, we, through long investigations, three dodgy gentlemen or two dodgy gentlemen and a lady, are going to jail for ripping off $5.8 million. We’ve set up a criminal task force. We’ve got 21 Commonwealth agencies. You know, to channel my inner Clint Eastwood, I say to dodgy providers, do you feel lucky? Because we will catch you.
PENBERTHY: Have there been any successful prosecutions under those laws?
SHORTEN: Yes. We’ve got 56 people are in court or on the desk of the relevant public prosecutor, Director of Public Prosecutions, 500 investigations. We’ve released some information this morning. Under my predecessors, yes, the Liberals, they had a safeguards commission which is meant to handle complaints. But that’s where complaints used to go to die. It was not transparent. This year we’ve just after – we’ve tripled the number of people working in the complaints Commission from 367 to 1052. We’ve given them money. When I put in an acting administrator into the Complaints Commission to liven it up. He was a former policeman. I said, tell me what you found, Mike. And Mike said, oh, you’ve got state of the art investigation systems for 1988. So, we’ve upgraded the ICT. Now the complaints have gone up 78%, my usual, you know, Ratbag critics say, oh, that proves that everyone’s unhappy because you’re the Minister. No, it just means for the first time, we’re following up the complaints. They’ve always been there.
PENBERTHY: Minister we’ve got some callers with questions for you. Geraldine’s on the line Geraldine good morning to you.
CALLER: Hi Bill. I’m getting a ramp put in and there’s a quote on it, it’s $17,000.
SHORTEN: Oh, that’s rubbish.
CALLER: Yeah. Now I believe that they’re ripping the system off. And this this man, he’s. That’s all he does. Him and his two sons. And they employed, more or less employed by my provider. And I just hope the government can do something to get a cheaper ramp for me, because I haven’t been outside my home for 11 months. If there was a fire here, I’d burn to death because I can’t go up and down the steps and I’ve got to wait another till June or July next year to save up enough money to pay for the ramp.
SHORTEN: Well, I don’t know if you’re on the NDIS or another government payment scheme?
CALLER: My Aged Care.
SHORTEN: Okay, well, what we’ll do is if we can get your details offline, I don’t know if a ramp should cost $17,000, but my gut says that must be a beautiful ramp.
PENBERTHY: Yeah. The on ramp to the New South Road extension cost that much.
SHORTEN: Yeah, it sounds like a piece of art. Um, so what we have seen, and Geraldine, thanks for calling, is just because it’s the government money and a government package doesn’t give some contractors the God given right to rip taxpayers and people off. So, we’ve now in the NDIS, I’ve now got through the Competition Commission laws which say you cannot be charged more for an identical service or product than if you weren’t on the scheme. So, what we can do is you can, what it means is if they were selling you an NDIS ramp, we’re now allowed to look at the books of the company and see what they charge other people for ramps, and if it’s if it’s less that they charge another punter than someone on the NDIS, that’s against the law now.
PENBERTHY: So, it should be. Minister, there’s another local story we’ve been following closely. Listener by the name of Alex Castoroides, who has called in. I just note who explained to us his situation. A severely disabled daughter who requires two on one care all day, had been in school and receiving terrific care, and they’d had a good experience on the NDIS. That ended, and he’s had some trouble continuing it, so much so they’ve had to sell their business. He’s told us his family home has been at risk. He’s on the line now. Alex, good morning to you. You’re speaking with the NDIS Minister, Bill Shorten.
CALLER: Good morning. Good morning.
SHORTEN: Good morning, Alex.
CALLER: Minister. Yeah. Just quickly touch on my daughter’s case. Um, she finished school last year, and we spent the whole year preparing her to come out into the public and be part of the, you know, the wide world out there. And we put in a change of circumstance with NDIS and – because obviously we had to fill that gap between 9 and 3 where she needed care, where she used to be at school. Instead of giving us the extra care, we actually got our, our funds slashed. And the person that made the decision said that Georgia only needed one on one care. She has got a two on one restraining order set up through [inaudible]. She has all the reports from her psychologist and OT that she does need two on one care at all times. And when this decision was made, it just destroyed our lives. Where, like Will said, I had to sell my business to look after my, I had to close my business, actually, to look after my daughter to help her. And, you know, we did the review. The gentleman used old information, that worked for NDIS, and quoted things when George was at school not being in public. And we did a review of the review. The lady totally bunged that up. She asked for the new information. We provided it to her again. She didn’t use the new information. She thought we didn’t give it to her. We gave her the reference number of the call we did with NDIS to say this is where we’ve uploaded all the information and here’s the email. And, you know, her response was, oh, I saw the email from my colleague, but I thought it was an American date, so I didn’t open it.
So that was her reasoning. And she used the old information for my daughter’s schooling days, to say her, she sticks with her judgment. It’s only one on one care and we were not going to give you any extra funding. So, we followed the process, and we applied for the tribunal. With the help of Senator Nat Cook, the federal health Minister, they’ve all helped me and sent emails to your office. We haven’t had much response, and much help. And I’ve been in the Advertiser. I’ve been on 5AA trying to get this hurried up because my daughter’s health was spiralling out of control and mental health, that is. To the point where four weeks ago, um, she was out of control. We had to call the ambulance. The poor girl that was looking after her on her own just couldn’t control her anymore. The ambulance took her to the QEH, and she was put in an induced coma due to her state, for three weeks. And she’s just come out of the induced coma. They did all the testing on her. Her health is perfectly fine, and they’ve put it down to her situation of losing her carers and all of that situation that the NDIS put us through with the bunged-up decisions that they made.
You know, we’re on the we’ve got no savings no more. No one’s, no one’s helping us in a hurry. And now that the, the next excuse is, oh, you’ve signed up with the tribunal so we can’t help you. And that’s from your office. So, you know, what do you want us to do? That’s what I want to know. Like the NDIS is there for specifically for my daughter. And I praise you for what you’re doing now. It’s amazing. And I can’t believe it wasn’t done earlier, what you’re what you’re doing now. But my daughter is sitting here on the couch having to learn how to walk again, how to talk again. And we’re in a mess.
And this system, from April to now, we’re still fighting and sitting by my daughter’s bedside watching her, the tube down her throat, not knowing if she’s going to live anymore. You know, I still have to take calls, and I still have to try and fight the NDIS and the tribunal system to try and get, you know, put back what my daughter needs. And I’m one of many. And, you know, you just said before, the system is there for people like my daughter. But I’m sorry, but it’s failed dismally. The workers that, the worker that did that last review of the review, you know, I know nothing’s going to happen to her. But if she could come now to my house and see my daughter the way she is because of her silly decision, of not bothering to read any of the new reports we gave, not bothering to read any of the incident reports that we gave…
PENBERTHY: Minister, can anything be done in Alex’s case to at least get this process moving along a little bit more quickly so he can get some clarity?
SHORTEN: Yeah. First of all, Alex, it can’t be easy having to share that story. And you’re a good dad, and I know you’re doing your absolute level best. And I’m sorry that you’ve had a bad experience with the Agency, so no ifs or buts. I’m sorry. What I understand about your case is that the package was north of $300K, for a year? I understand that on October the 30th, the matter, that plan has been kept at the same level for the next six months while you go through the appeals process?
CALLER: Yeah.
SHORTEN: The fact of the matter is, there is a legal system. And if something’s before the courts, I can’t just simply step in and act as judge. You know, there’s a separation of powers between the politician and the legal process. But I do understand that the plan you had last year has now been approved on the 30th of October for the next six months. At the same level I get. There’s also issues about – the school system at least had your daughter, but now post school and you leave school, it’s a bit of a black hole. And then, there’s no I don’t think there’s been enough work – this is not you, but this is the system – that when people finish school and they’ve got a profound disability, they’re sort of left to their own devices. So, we’ve set up some projects to try and work out how we can do better stuff for school leavers so that it’s not the, ‘left to your own devices’ that you’ve been in.
Just on the, the general point. So, on your matter, your plan has been rolled over for the next six months. Status quo payment. That was decided, I think, on the 30th of October. But just to other people who are listening, this is a problem. But God only knows what would happen if we didn’t have an NDIS at all. And no other country in the world has it, so that doesn’t help you. But going to the general issue, I don’t know what this country would do without the NDIS. And the problem we got is that in your matter, you feel that the evidence hasn’t been looked at properly, the people making the decisions haven’t taken into account matters. When I became the Minister, there were 4000 staff at the agency. Now, my predecessors capped the number of people at the agency at 4000. In 2017, there were 4000 people working on matters like yours, your daughter’s, everyone else, and there were 170,000 people on the scheme.
When I became the Minister, there’s over half a million people on the scheme and still 4000 people. So, we’ve now started to invest in planner capability because I want you to have a more consistent experience. But anyway, I know your matters in the courts, but I do know that rather than get nothing until the court matters resolved, your plan has been rolled over for the next six months so that there are funds there.
PENBERTHY: All right. Thank you. Thanks for sharing that story, Alex. It’s full on and thanks to you as the Minister too, Mr. Shorten to, you know, take what Alex is saying as seriously as you have because –
SHORTEN: Oh, yeah.
PENBERTHY: – it’s been a big story locally.
SHORTEN: Yeah, no, I get it. That’s tough.
PENBERTHY: Why can’t that cap change?
SHORTEN: Oh, we have changed it.
PENBERTHY: How on earth can 4000 people look after? Because – and the case I mentioned the other day that I won’t go into now, but it feels like half the battle is actually just getting responses from within the organisation, in the same way it is with My Aged Care?
SHORTEN: Yeah, to be fair to the Agency, they were underfunded, as was the complaints commission, but now we’ve put on an extra 2000 people, so it takes a while to get people up to speed. Of the leadership of the Agency, we have changed that. The new Chair of the Agency is Kurt Fearnley, who’s just an amazing Australian, charismatic, smart, capable, passionate, doesn’t take a backward step. The leadership of the Agency, of the top 11 people who were running it, there’s one left. We’ve sort of changed the guard there, and now we’re bringing in people and training them up.
We had a call centre which was contracted out, which meant that if you rang the call centre and they were getting nearly 2 million calls a year –
PENBERTHY: 2 million?
SHORTEN: Because of their contract, yeah, they couldn’t get, they couldn’t access the information. So, we’re now bringing some of that in-house, but we’re investing in the capability of the agency, more people and training them more so we hope we can get more consistent decision making.
PENBERTHY: It was a long chat in the end, but a good chat. We thank you. Thank you for coming in. Mr. Shorten, we’ll catch up with you again soon.
Four years on from a fatal shooting in Ilford, detectives are releasing footage of a man they would like to identify.
An investigation was launched on 1 November 2020 when officers were called to Balfour Road, Ilford at 22:14hrs following reports of a disturbance.
Officers arrived at the scene and located Jason Diallo, 30 with multiple injuries. He sadly died at the scene.
A witness told officers that they had seen Jason cycling along the road, when he was knocked off his bike by a car. Two occupants of the car got out and shot Jason in the head before driving away.
Fifteen minutes after Jason Diallo was shot, at 22:29hrs, police were called to a shooting around five miles away in Garvary Road, E16. A 27-year-old man was found with a gunshot injury to his shoulder.
He was taken to hospital with gunshot wounds which were determined not to be life-threatening. When providing a statement to officers, he told them he had been followed by three men driving a car who began shooting at him.
A complex investigation was launched within Specialist Crime North and two men were convicted and sentenced for their involvement.
On Tuesday, 14 June 2022, Mushin Mohamed, 28 (06.04.1996) of Leytonstone Road, E15 was found guilty of murder and attempted murder at the Old Bailey and sentenced to life in prison to serve a minimum of 35 years.
Tyrelle Joseph, 24 (16.09.2000) of Banks Way, E12 was found guilty of assisting an offender and jailed for seven years after being identified as someone who had helped Mohamed and the unidentified suspects leave the scene.
Enquiries have remained ongoing to identify two more suspects believed to be involved in the shootings that night.
Investigating officers are now in a position to release this footage of a man they would like to speak with in connection with this investigation and a financial reward for information is available.
The Metropolitan Police Service is offering a substantial reward of up to £20,000 for information leading to the identification, arrest and prosecution of the person responsible for the murder of Jason Diallo and the non-fatal shooting of a 27-year-old man on 1 November 2020.
Detective Chief Inspector Kelly Allen, the senior investigating officer, said:
“We have continued our momentum behind this investigation to ensure that those responsible for killing Jason Diallo and seriously injuring another man are held accountable.
“Our enquiries have found no evidence to suggest that Jason Diallo or the attempted murder victim were known to one another or those convicted, suggesting that this was a completely unprovoked and violent incident.
“Jason Diallo was described by his family as a devoted father of two who had the softest heart. Our thoughts have remained with his family and friends throughout a difficult four years and we are determined that they see justice.
“We are now in a position to release an image of this man, who we would like to speak with in connection with this ongoing investigation.
“If you know who he is or have any information which could help us, please get in contact.”
Anyone with information that could help the investigation is asked to call 101 quoting Operation Shenley. You can also report information anonymously to Crimestoppers by calling 0800 555 111.
A Chinese envoy on Thursday called on the United States not to obstruct peace efforts in the Ukraine crisis, as U.S.-led arms transfers to Kyiv continue.
Geng Shuang, China’s deputy permanent representative to the United Nations, made the remarks at a UN Security Council meeting, where UN Undersecretary-General for Disarmament Affairs Izumi Nakamitsu noted that the Ukrainian armed forces continue to receive arms transfers and other forms of military support, including heavy conventional weapons.
Nakamitsu expressed concern over the use and transfer of cluster munitions, highlighting their indiscriminate nature and potential for widespread pollution.
Geng said the immediate priority is to adhere to the principles of no battlefield spillover, no escalation of hostilities, and no incitement by any party to quickly de-escalate the situation and seek a political solution to the crisis.
China urges parties involved in the conflict to demonstrate political will and engage in peace talks as soon as possible, Geng said. He also called on the international community to create favorable conditions and provide constructive assistance for this process.
It is the United States that has been aggravating security tensions in Europe, increasing trust deficits and promoting divisive confrontations, Geng said, adding that after the conflict broke out, the U.S. continued to send weapons to the battlefield, openly advocating for the weakening and defeat of Russia, pushing its geopolitical strategy in a blatant manner.
It is also the U.S. that has repeatedly smeared China’s peace efforts, tied China to Russia, tried to drive a wedge between China and Europe, and deliberately fostered camp-based rivalry, said the Chinese diplomat.
Selling fear, creating enemies and inciting confrontation will not only bring disputes and chaos to the world but will also ultimately harm the U.S. itself, Geng warned.
China has not provided weapons to any party in the Ukraine conflict and has strictly controlled dual-use items, Geng said in response to Deputy U.S. Ambassador to the UN Robert Wood’s accusations that China has provided decisive support for Russia.
Chinese companies engage in regular trade with countries worldwide, including Russia and Ukraine, in compliance with World Trade Organization rules and market principles, and are beyond reproach, Geng added.
From the very beginning, China has called for a ceasefire, an end to hostilities, the resolution of disputes through diplomatic negotiations, and a push toward a political solution, according to the Chinese envoy.
Over the past three years, China has been vocal and active in these efforts, he said. “Who is truly supporting peace, and who is obstructing it? I think the international community sees this very clearly.”
China opposes the United States’ use of the Ukraine issue to discredit and pressure China, imposing unilateral sanctions and illegal “long-arm jurisdiction” on Chinese entities and individuals, Geng said, adding that China will take all necessary measures to protect the legitimate rights and interests of Chinese companies and citizens.
THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS
NBPE Announces Appointment of Oak Group as Guernsey Adminstrator
1 November 2024
NB Private Equity Partners (NBPE), the $1.3bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces the appointment of Oak Fund Services (Guernsey) Limited as NBPE’s Guernsey Administrator and Company Secretary. The appointment is with effect from 1 November 2024.
Effective as of 1 November 2024, NBPE’s registered address will be changed to:
NB Private Equity Partners Limited Oak House, Hirzel Street, St Peter Port, Guernsey GY1 2NP
About NB Private Equity Partners Limited NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.
LEI number: 213800UJH93NH8IOFQ77
About Neuberger Berman
This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security. NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.
Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $509 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. The PRI identified the firm as part of the Leader’s Group, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of September 30, 2024.
Aktsiaselts Infortar subsidiary AS Eesti Gaas acquires a 100% shareholding in EWE Polska
AS Eesti Gaas, a wholly owned subsidiary of Aktsiaselts Infortar (Infortar) and the German energy group EWE AG have entered into an agreement on the 31st of October 2024, under which EWE AG will sell 100% of the shares of its wholly owned subsidiary EWE Polska sp. z o.o. (EWE Polska) which operates in Poland. EWE Polska has two wholly owned subsidiaries, EWE Energia sp. z o.o. and EWE Przesył sp. z o.o. (altogether EWE Polska group). Chairman of the Management Board of Infortar Ain Hanschmidt: “Our ambition is to expand beyond the Baltic-Finnish region into Central and Western Europe, implementing our proven model and experience as a gas supplier and network operator Poland, thereby delivering the best service to consumers. The acquisition of an energy company in Poland provides us with the necessary momentum in this large and important growing gas market, while also ensuring an additional steady cash flow for the company’s shareholders.”
The fields of activity of EWE Polska group include a natural gas distribution network in Western Poland and all business lines of energy sales (including gas and electricity sales).
The completion of the transaction requires approval from the Polish Competition Authority (Polish: Urząd Ochrony Konkurencji i Konsumentów), as well as corporate approval by the EWE AG Supervisory Board (German: Aufsichtsrat).
The acquisition of shares in EWE Polska constitutes a significant transaction under Nasdaq Tallinn Stock Exchange Rules and Regulations. Therefore, the Stock Exchange Release includes comprehensive information on the transaction’s circumstances and EWE Polska’s financial results.
EWE Polska is the second-largest privately-owned network operator in Poland. The company operates a natural gas distribution network of 2,316 km in western Poland, mainly around Poznan, serving over 25,000 clients. In addition to infrastructure management, the company sells natural gas and electricity, with energy sales totaling 1.2 TWh last year.
The aim of the transaction is to significantly expand Infortar’s energy business in the Polish market, with the impact on the Infortar’s consolidation group being adding estimated revenues of more than 100 million euros. The acquisition of EWE Polska group increases our market presence in this large and important growing gas market, while also ensuring steady cash flow from regulated assets to our shareholders.
1. Terms of payment of purchase price for the shares of EWE Polska The purchase price for shares of EWE Polska is 120 000 000 euros payable as monetary payment. The purchase price will be paid at the completion of the transaction after being adjusted based on accrued interest and occurred leakage (if any).
2. EWE Polska’s financial results EWE Polska group total revenues in year 2023 amounted to 141.1 mEUR (2022: 133.2 mEUR and 2021: 76.4 mEUR) which is 6% higher than the year before and 85% higher than in year 2021. In 2023, earnings before interest, taxes, depreciation, and amortization (EBITDA) was -2.2 mEUR, compared to 15.6 mEUR in 2022 and 15.0 mEUR in 2021. In 2023, the consolidated net profit was -3.7 mEUR, compared to net profit of 10.5 m EUR and 10.0 mEUR in years 2022 and 2021 respectively.
EWE Polska group total assets in 2023 were 170.0 mEUR (2022: 182.4 mEUR and 2021: 156.5mEUR) including total fixed assets 115.8 mEUR that is 68% from total assets (2022: 63% and 2021: 69%). Total current assets in 2023 were 54.2 mEUR, including cash and equivalents 22.9 m EUR. In 2022 respective numbers were 66.7 mEUR and 20.7 mEUR. In 2021 the numbers were 48.1 mEUR and 16.2 mEUR.
Total Equity in 2023 was 115.5 mEUR (in 2022 total equity was 121.5 mEUR and in 2021 114.6 mEUR). For more detailed information, please see appendix.
Based on the additional information provided to Infortar, there have been no adverse changes in the business operations of the EWE Polska group since the close of the 2023 financial year. Unaudited consolidated figures for the first eight months of 2024 have been presented to Infortar, showing consolidated sales of 74.6 mEUR (2023 8 months: 94.2 mEUR), an EBITDA of 15.2 mEUR (2023 8 months: 5.9 mEUR), and a net profit of 12.3 mEUR (2023 8 months: -2.6 mEUR).
3. Overview of the loans undertaken by EWE Polska EWE Polska group has no outstanding loans in its consolidated balance sheet.
4. The structure of shareholders of EWE Polska EWE Polska is 100% owned by EWE AG. Upon completion of the transaction 100% of EWE Polska shares will be acquired by Infortar’s wholly owned subsidiary AS Eesti Gaas.
5. Information on significant court or arbitration proceedings involving EWE Polska According to information provided to Infortar, the companies within the EWE Polska group are not engaged in any significant court or arbitration proceedings. While certain legal proceedings related to their regular business activities are ongoing, Infortar has grounds to believe that the outcomes of these proceedings are unlikely to have a material impact on the business activities of EWE Polska group companies.
6. Information on valid contracts between Infortar and EWE Polska Currently there are no valid contracts between Infortar and EWE Polska group.
7. The composition of managing bodies of EWE Polska The Management Board of EWE Polska currently consists of Mr. Krzysztof Noga and Ms. Agnieszka Bielewicz. The Supervisory Board has not been formed.
The contemplated transaction is not a transaction between related parties and the members of the Supervisory Board and the Management Board of Aktsiaselts Infortar have no personal interest in the transaction in any other way.
Aktsiaselts Infortar operates in seven countries, the company’s main fields of activity are energy, maritime transport, and real estate. Aktsiaselts Infortar owns a 68.47% stake in Aktsiaselts Tallink Grupp, a 100% stake in AS Eesti Gaas and a versatile and modern real estate portfolio of approx. 113,000 m2. In addition to the three main areas of activity, Aktsiaselts Infortar also operates in construction and mineral resources, agriculture, printing, taxi business and other areas. A total of 104 companies belong to the Aktsiaselts Infortar group: 95 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Aktsiaselts Infortar employs 6,625 people.
CALGARY, Alberta, Nov. 01, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (PEI: TSX-V; OF6B: FRA) (“Prospera” or the “Corporation“)
Prospera announces the opportunistic appointment of Mr. Shubham Garg as Chairman of the Board of Directors. Previous Chairman, Mr. Mel Clifford has stepped down from the Board of Directors for personal reasons, effective October 31, 2024. The Board and Prospera express their sincere gratitude to Mr. Clifford for his dedication and contributions to PEI’s restructuring efforts out of bankruptcy.
The board and the principal investors of Prospera have unanimously approved Mr. Garg as the Chairman of the Board, recognizing his extensive knowledge of the public oil & gas market, his influential connections within financial industry, and his sound understanding of oil and gas operations, especially in Saskatchewan’s heavy oil fields.
The recent medium-light oil drills have been completed, and production flow is beginning to reach the anticipated levels. Ongoing efforts, including SK heavy oil well automation, battery maintenance and upgrades, pipeline modifications, water injection realignment, and ensuring sufficient fuel gas supply, are enhancing well runtime and optimizing production to support the horizontal transformation volumes as outlined in the structured development phases. Prospera will continue developing its assets and diversifying the heavy-to-light oil ratio to enhance its margins.
About Prospera Prospera is a publicly traded energy company based in Western Canada, specializing in the exploration, development, and production of crude oil and natural gas. Prospera is primarily focused on optimizing hydrocarbon recovery from legacy fields through environmentally safe and efficient reservoir development methods and production practices. Prospera was restructured in the first quarter of 2021 to become profitable and in compliance with regulatory, environmental, municipal, landowner, and service stakeholders.
The company is in the midst of a three-stage restructuring process aimed at prioritizing cost effective operations while appreciating production capacity and reducing liabilities. Prospera has completed the first phase by optimizing low hanging opportunities, attaining free cash flow, while bringing operation to safe operating condition, all while remaining compliant. Currently, Prospera is executing phase II of the restructuring process, the horizontal transformation intended to accelerate growth and capture the significant oil in place (400 million bbls). These horizontal wells allow PEI to reduce its environmental and surface footprint by eliminating the numerous vertical well leases along the lateral path. Phase III of Prospera’s corporate redevelopment strategy is to optimize recovery through EOR applications. Furthermore, Prospera will pursue its acquisition strategy to diversify its product mix and expand its core area. Its goal is to attain 50% light oil, 40% heavy oil and 10% gas.
The Corporation continues to apply efforts to minimize its environmental footprint. Also, efforts to reduce and eventually eliminate emissions, alongside pursuing innovative ESG methods to enhance API quality, thereby achieving higher margins and eliminating the need for diluents.
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The website operator is simply referred to as “NorthUnion”, and there is no information regarding its legal form. They give business addresses in Zurich, Switzerland, London, United Kingdom, Graz, Austria, and Madrid, Spain.
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 Up Your Trading with [name of operator]“.
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 database of companies.
Theinformation provided by BaFin is based on section 37 (4) of the German BankingAct (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.
Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –
Peter the Great St. Petersburg Polytechnic University and Gazprom Neft held an inter-industry conference, Digital Twins 2024. For two days, the Technopolis Polytech research building became a platform for exchanging experiences, discussing innovations, and developing solutions to existing problems. The event was attended by over 150 IT, systems analysis, and engineering specialists from 30 companies and organizations.
The plenary sessions were moderated by Kirill Vasiliev, head of the Gazpromneft-ITO department, Polytechnic University graduate and ambassador. The experts presented over 20 reports on such topical issues as the use of artificial intelligence, HR policy, import substitution and the use of digital twins in complex industrial systems.
Opening the conference, Gazprom Neft Science Director Mars Khasanov noted: It is important to understand the difference between a model and a digital twin. If a model describes only part of an object or system and does not “live” on its own, then a digital twin must adapt, adjust to changes in the environment, change as new data arrives, and learn. This means that a full-fledged digital twin must have intelligence to some extent — artificial intelligence. If artificial intelligence is used purposefully, understanding its key advantages, and “landing” it on engineering soil, then it will be a very useful tool, and digital twins will not be able to work without it. Meetings like our conference today are needed to form the correct understanding of digital twins.
Vice-Rector for Research at SPbPU Yuri Fomin welcomed the participants by saying that the topic of digital twins is now coming to the forefront: The Polytechnic University is characterized by the speed of introducing products to the industry. The current situation in the country and the world, on the one hand, contributes to the acceleration of this process, on the other hand, it introduces restrictions. In these conditions, we decided that digital twins are a strategic direction for us, in conjunction with our partners. We have accumulated competencies in the field of digital twins, it is gratifying that we make a serious contribution to this matter, and we need to find a common language with the industry.
The need for collaboration among all participants in the digital twin market was repeatedly emphasized during the discussions. The participants of the meeting not only presented their own business experience, shared achievements and problems, but also discussed how universities and companies can communicate more productively and bring mutual benefit.
Director of Product Development Programs at Gazprom Neft, Evgeny Yudin, believes that building such interaction is one of the most pressing tasks today.
The digital transformation stage is clear, we need to take the next step — to more intelligent management based on artificial intelligence, digital twins, — Evgeny Viktorovich is sure. — We need to coordinate efforts from the point of view of a single conceptual base. There is a GOST that defines what digital twins are, there are concepts that businesses use. We need to start agreeing on the same language. And secondly, we need to share experience in using digital twins, artificial intelligence to optimize the management process. This is important because the goals are quite ambitious, and we understand that this goal cannot be achieved by one company alone, we need to coordinate, share experience, create consortiums, associations, and do joint projects. This is more effective in terms of getting an increment on the way to this goal. And the goal, I repeat, is the transition towards intelligent management. We are open to cooperation and interaction.
On the first day, the experience of the Polytechnic University in creating technologies for developing digital twins of products in industry was shared with the conference participants by the Vice-Rector for Digital Transformation of SPbPU, Head of the Advanced Engineering School “Digital Engineering” Alexey Borovkov. Also, from the speeches of representatives of leading companies and scientific organizations, the audience learned about various aspects of digital transformation in the oil and gas sector, aircraft and helicopter manufacturing, and other industries. Solutions were proposed for optimizing processes using digital models, accelerating hydrodynamic modeling using machine learning methods, hybrid modeling, and integrating artificial intelligence into control systems.
At the end of the first day of the conference, Evgeny Yudin and the head of well modeling and ground facilities at Gazprom Neft, Alexander Vinokurov, held a round table discussion on “Artificial Intelligence for Optimizing Business Processes.”
On the second day, Dmitry Mikhalyuk, CEO of JSC Tsifra and a graduate of the Physics and Mechanics Department of the Polytechnic University, covered the topic of digital twins of production systems as a synergy of information technology and modeling of physical processes. Dmitry Sokolov, Solution Architect at Kaspersky Lab, taught how to safely update and enrich a digital twin with industrial data. Maxim Simonov, Head of the Competence Center for the Development of Integrated Asset Modeling at Gazprom Neft, spoke about the company’s HR policy: how interaction with universities occurs, what internal training is, what helps a young specialist go from a student to an expert, etc. The conference participants also learned about the tools and best practices for using neural network approaches, discussed the problems of switching to domestic software, data in digital twins, and management processes.
The conference concluded with a panel discussion on the topic “Digital Twins: Development Prospects in Industry”. Experts exchanged opinions on what problems of implementing digital twins are coming to the forefront today – technological, personnel, import substitution or legal regulation; where government assistance is needed; how well universities are coping with training engineers of the future, etc.
We are delving quite deeply into the topic of digital twins of physical, physical and chemical systems. But if we want to move to new management principles, then large companies have other objects that need to build digital twins, for example, the external environment, the same markets, – believes the head of the digital technologies and artificial intelligence department of Gazprom Neft Mikhail Korolkov. – Problems will begin when the twins of external systems need to be connected and integrated with the twins of physical systems. And the second barrier that will at some point stand in the way of the widespread use of digital twins is a possible change in the business models of companies.
Assessing the prospects for the development of domestic digital technologies in the next 5-10 years, Alexey Zaslavsky, CEO of Vaizteco (Aiteko Group of Companies), noted: We can certainly achieve priorities in certain specific things. The main thing is to choose them correctly and concentrate on them. We must not forget that our Motherland launched a man into space 16 years after the end of World War II.
Our country has a unique way of mobilizing itself in very difficult periods, agreed Maxim Simonov. We are now seeing that in two or three years, many software solutions have appeared that, although they do not yet allow us to meet all business needs, already provide the opportunity to work with domestic solutions. In some ways, they are already ahead of previously used software products.
The most important thing is to use these technological breakthroughs in the formation of a new system of international cooperation, – says Andrey Dobrynin, Director of the Center for Geospatial Economic Analysis at Lomonosov Moscow State University. – Yes, the circle of partners has changed. But I would not say that the market has narrowed. We need to be able to position ourselves correctly there, offer the right solutions. If we can build a chain of development of artificial intelligence and digital twins and move in this direction, we will be able to set the tone, create standards, promote our projects and gain a foothold in key positions in the global market.
Andrey Dobrynin also highly praised the level of the meeting of specialists. It was a wonderful conference. The Polytechnic University has a great deal of groundwork in the field of digital twins, and Gazprom Neft is a leading company that comes up with initiatives before others. And joining efforts will allow us to move forward. But what was even more impressive was how the topics were discussed. The participants represented different industries, not even related ones, which gave an additional impetus to the discussion. Everyone contributed to understanding the issue, which, in my opinion, serves as a good basis for further cooperation.
Mikhail Korolkov summed up the conference: There were two very interesting, eventful days, with excellent reports, lively discussions, exchange of ideas, impressions, and experience. Digital twins are a topic that is becoming advanced and breakthrough in all important industries for the country. We are coming to new issues that were not even raised a year or two ago: integration of digital twins, the role of artificial intelligence in digital twins. The main problem of import substitution was also touched upon. The discussion was comprehensive, not only the reports are important, but also the exchange of opinions, and the audience, the speakers will only benefit from this, they will find ways to overcome barriers. I hope that this event will become permanent, and in some time we will discuss new trends and ideas at a new level.
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.
HSBC (contact: syndexecution@noexternalmail.hsbc.com) hereby gives notice that no stabilisation was undertaken by the Stabilisation Manager(s) named below in relation to the offer of the following securities.
Issuer:
Aercap Sukuk Limited
Obligor (if any):
International Lease Finance Corporation
Initial Guarantors (if any):
AerCap Holdings N.V., AerCap Global Aviation Trust, AerCap Aviation Solutions B.V., AerCap Ireland Limited, AerCap Ireland Capital Designated Activity Company and AerCap U.S. Global Aviation LLC
Aggregate nominal amount:
USD 500,000,000
Description:
4.50% due 3rd October 2029
Offer price:
99.338
Stabilising Manager:
HSBC Bank plc
This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Source: Hong Kong Government special administrative region
The Census and Statistics Department (C&SD) released the latest figures on retail sales today (November 1). The value of total retail sales in September 2024, provisionally estimated at $29.6 billion, decreased by 6.9% compared with the same month in 2023. The revised estimate of the value of total retail sales in August 2024 decreased by 10.0% compared with a year earlier. For the first 9 months of 2024 taken together, it was provisionally estimated that the value of total retail sales decreased by 7.6% compared with the same period in 2023. Of the total retail sales value in September 2024, online sales accounted for 10.4%. The value of online retail sales in that month, provisionally estimated at $3.1 billion, decreased by 11.8% compared with the same month in 2023. The revised estimate of online retail sales in August 2024 decreased by 0.7% compared with a year earlier. For the first 9 months of 2024 taken together, it was provisionally estimated that the value of online retail sales decreased by 2.0% compared with the same period in 2023. After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in September 2024 decreased by 8.7% compared with a year earlier. The revised estimate of the volume of total retail sales in August 2024 decreased by 11.7% compared with a year earlier. For the first 9 months of 2024 taken together, the provisional estimate of the total retail sales decreased by 9.2% in volume compared with the same period in 2023. Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing September 2024 with September 2023, the value of sales of commodities in supermarkets decreased by 1.1%. This was followed by sales of electrical goods and other consumer durable goods not elsewhere classified (-7.6% in value); jewellery, watches and clocks, and valuable gifts (-17.9%); food, alcoholic drinks and tobacco (-3.2%); wearing apparel (-8.7%); medicines and cosmetics (-2.5%); commodities in department stores (-11.4%); motor vehicles and parts (-26.7%); fuels (-8.6%); furniture and fixtures (-14.4%); footwear, allied products and other clothing accessories (-3.8%); Chinese drugs and herbs (-17.7%); and optical shops (-10.6%). On the other hand, the value of sales of other consumer goods not elsewhere classified increased by 2.9% in September 2024 over a year earlier. This was followed by sales of books, newspapers, stationery and gifts (+20.3% in value). Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales decreased by 1.0% in the third quarter of 2024 compared with the preceding quarter, while the provisional estimate of the volume of total retail sales decreased by 2.0%.Commentary A government spokesman said that the value of total retail sales continued to decline in September from a year earlier, but the rate of decline narrowed. On a seasonally adjusted month-to-month comparison, the value of total retail sales recorded an increase. Looking ahead, the spokesman said that the near-term performance of the retail sector would continue to be affected by the change in consumption patterns of residents and visitors. Nevertheless, an improved outlook for the Mainland economy following the recent introduction of a wide range of stimulus measures, and a possible easing of the Hong Kong dollar alongside the US dollar with the commencement of the US interest rate cut, would be conducive to boosting sentiment and supporting spending. In addition, the Central Government’s various measures benefitting Hong Kong, the SAR Government’s various initiatives to boost market sentiment and increasing employment earnings would also benefit the retail sector. The spokesman added that the Policy Address this year includes various measures that would benefit the retail sector, such as developing new tourist hotspots, relaxing visa application criteria for some ASEAN countries, and boosting “silver consumption”. The Policy Address has also launched a series of measures to assist small and medium enterprises (SMEs), including those in the retail sector, in addressing the challenges encountered in the process of economic restructuring. These include relaunching the principal moratorium under the SME Financing Guarantee Scheme to ease the repayment pressure of enterprises, expanding the geographical coverage of E-commerce Easy to the 10 ASEAN countries, and relaunching the Hong Kong Shopping Festival in the next two years to help SMEs develop e-commerce business to expand their markets. These measures would help the retail sector in transitioning through the economic restructuring period and improve its prospects.Further information Table 1 presents the revised figures on value index and value of retail sales for all retail outlets and by broad type of retail outlet for August 2024 as well as the provisional figures for September 2024. The provisional figures on the value of retail sales for all retail outlets and by broad type of retail outlet as well as the corresponding year-on-year changes for the first 9 months of 2024 taken together are also shown. Table 2 presents the revised figures on value of online retail sales for August 2024 as well as the provisional figures for September 2024. The provisional figures on year-on-year changes for the first 9 months of 2024 taken together are also shown. Table 3 presents the revised figures on volume index of retail sales for all retail outlets and by broad type of retail outlet for August 2024 as well as the provisional figures for September 2024. The provisional figures on year-on-year changes for the first 9 months of 2024 taken together are also shown. Table 4 shows the movements of the value and volume of total retail sales in terms of the year-on-year rate of change for a month compared with the same month in the preceding year based on the original series, and in terms of the rate of change for a three-month period compared with the preceding three-month period based on the seasonally adjusted series. The classification of retail establishments follows the Hong Kong Standard Industrial Classification (HSIC) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes. These retail sales statistics measure the sales receipts in respect of goods sold by local retail establishments and are primarily intended for gauging the short-term business performance of the local retail sector. Data on retail sales are collected from local retail establishments through the Monthly Survey of Retail Sales (MRS). Local retail establishments with and without physical shops are covered in MRS and their sales, both through conventional shops and online channels, are included in the retail sales statistics. The retail sales statistics cover consumer spending on goods but not on services (such as those on housing, catering, medical care and health services, transport and communication, financial services, education and entertainment) which account for over 50% of the overall consumer spending. Moreover, they include spending on goods in Hong Kong by visitors but exclude spending outside Hong Kong by Hong Kong residents. Hence they should not be regarded as indicators for measuring overall consumer spending. Users interested in the trend of overall consumer spending should refer to the data series of private consumption expenditure (PCE), which is a major component of the Gross Domestic Product published at quarterly intervals. Compiled from a wide range of data sources, PCE covers consumer spending on both goods (including goods purchased from all channels) and services by Hong Kong residents whether locally or abroad. Please refer to the C&SD publication “Gross Domestic Product by Expenditure Component” for more details. More detailed statistics are given in the “Report on Monthly Survey of Retail Sales”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080003&scode=530). Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of C&SD (Tel. : 3903 7400; E-mail : mrs@censtatd.gov.hk).
To ensure prompt grid connection of wind farms and adequate supply of green electricity, the Ministry of Economic Affairs (MOEA) held a symposium on September 23rd, with offshore wind farm developers to discuss issues encountered in achieving timely grid connection. Industry representatives raised topics such as follow-up actions for the Industrial Relevance Policy, geological survey regulations, and state-owned banks’ participation in financing.
The MOEA stated that it is currently in consultation with the EU under the WTO framework. Adhering to the principle of mutual trust, the consultation results need to be kept confidential, thus no detailed information can be disclosed at the moment. Nonetheless, the atmosphere of the consultations is positive, with efforts being made towards settling, and the MOEA is planning to loosen up the Industrial Relevance Policy. The MOEA explained that as long as the wind farms are completed on time and connected to the grid in compliance with public interest and relevant laws, the administrative departments will assist developers in overcoming related obstacles. Regarding the Industrial Relevance Policy involving force majeure or unattributable reasons, the Industrial Development Administration of the MOEA will follow general principles and adopt a case-by-case review approach, aiming to complete relevant reference models by the end of September to help developers complete wind farm installations on schedule.
In response to the industry’s proposal for state-owned banks to participate in the offshore wind farm financing, the MOEA also mentioned that it had arranged for representatives from the National Development Council, the Ministry of Finance, the Financial Supervisory Commission, and state-owned banks, to visit offshore wind farms by the end of September, where they exchanged views on offshore wind farm financing issues, provided practical experience to banking industry representatives, and establish trust for the fiance of offshore wind farms, thereby creating a healthy financing environment.
The MOEA emphasized that domestic corporate users have a significant and competitive demand for green electricity for exports (such as RE100) and that advanced manufacturing processes require higher proportions of green energy. Increasing the proportion of green electricity in Taiwan’s manufacturing by 2030 has become a priority. The MOEA will continue cooperating with offshore wind power developers to provide sufficient green electricity and enhance the international competitiveness of Taiwan’s industries.
Spokesperson for Energy Administration, Ministry of Economic Affairs: Deputy Director General, Chun-Li Lee Phone: 02-2775-7700, 0936-250-838 Email: chunlee@moeaea.gov.tw
Business Contact: Director, Chung-Hsien Chen Phone: 02-2775-7770, 0919-998-339 Email: ctchen2@moeaea.gov.tw
DUBAI, United Arab Emirates, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bybit TR, the partner site of Bybit.com, proudly announces the launch of its new localized app, specifically designed for Türkiye market. With this move, Bybit TR strengthens its commitment to the local crypto community.
In partnership with Narkasa, the Bybit TR app is set to redefine the crypto investment landscape in Türkiye. Bybit TR has been included in the ‘Crypto Asset Service Providers – List of Operating Companies by CMB, ensuring full compliance with local regulations.
The Bybit TR app stands out for its user-friendly interface and innovative features, catering to both new and seasoned cryptocurrency investors. Its intuitive design allows users to trade quickly and stay up to date with the latest market movements, offering a streamlined experience tailored to the unique needs of Turkish investors.
With the Bybit TR app, users can access popular cryptocurrencies like Bitcoin, Ethereum, and a wide variety of altcoins, including Türkiye’s own Galatasaray and Fenerbahçe Fan Tokens. Faster access to TRY trading pairs and a diverse range of crypto projects makes this app the ultimate tool for crypto traders in Türkiye.
Kutluhan Akçın, Bybit TR Country Manager, expressed his enthusiasm about the launch: “We are thrilled to introduce the Bybit TR app, offering a secure, localized crypto trading experience. Our goal is to lead and innovate in the Turkish crypto market by integrating Turkish Lira and delivering unmatched customer support. With this launch, we’re ensuring that our users can trade confidently and efficiently within a fully compliant framework.”
Security remains a top priority at Bybit TR. The Bybit TR app employs the latest security protocols, including two-factor authentication (2FA) and cold wallet solutions, to safeguard user assets.
In addition to providing a secure trading environment, Bybit TR offers a comprehensive educational library to help users expand their knowledge of cryptocurrency trading. Plus, with 24/7 customer support, users can quickly receive assistance whenever they need it.
The Bybit TR app not only enhances accessibility to cryptocurrency trading but also instills confidence in users as they navigate the dynamic world of crypto investment. With its localized features and commitment to user security, Bybit TR is the go-to platform for anyone looking to enter or deepen their involvement in the world of cryptocurrencies.
In June 2024, Bybit reinforced its commitment to the Turkish crypto market by rebranding Narkasa as Bybit TR. This strategic move underscores our dedication to offering Turkish users a localized and secure crypto trading experience. Operated by Narkasa Yazılım Ticaret Anonim Şirketi, Bybit Türkiye stands as an independent brand, tailored to meet the specific needs of the Turkish market while ensuring the highest standards of service and security.
The key business priorities that each agency will deliver and any significant changes they plan to make to their services.
The key performance indicators, by which their performance will be assessed.
These plans allow service users and members of the public to understand the agencies’ plans for delivering their key services and managing their finances.
The business plans will be available electronically on GOV.UK and copies will be placed in the libraries of both Houses.
The Driver and Vehicle Standards Agency (DVSA) 2024 to 2025 business plan will be published separately as we continue to work with them on measures to drive down practical driving test waiting times.
A Chinese envoy on Thursday called on the United States not to obstruct peace efforts in the Ukraine crisis, as U.S.-led arms transfers to Kyiv continue.
Geng Shuang, China’s deputy permanent representative to the United Nations, made the remarks at a UN Security Council meeting, where UN Undersecretary-General for Disarmament Affairs Izumi Nakamitsu noted that the Ukrainian armed forces continue to receive arms transfers and other forms of military support, including heavy conventional weapons.
Nakamitsu expressed concern over the use and transfer of cluster munitions, highlighting their indiscriminate nature and potential for widespread pollution.
Geng said the immediate priority is to adhere to the principles of no battlefield spillover, no escalation of hostilities, and no incitement by any party to quickly de-escalate the situation and seek a political solution to the crisis.
China urges parties involved in the conflict to demonstrate political will and engage in peace talks as soon as possible, Geng said. He also called on the international community to create favorable conditions and provide constructive assistance for this process.
It is the United States that has been aggravating security tensions in Europe, increasing trust deficits and promoting divisive confrontations, Geng said, adding that after the conflict broke out, the U.S. continued to send weapons to the battlefield, openly advocating for the weakening and defeat of Russia, pushing its geopolitical strategy in a blatant manner.
It is also the U.S. that has repeatedly smeared China’s peace efforts, tied China to Russia, tried to drive a wedge between China and Europe, and deliberately fostered camp-based rivalry, said the Chinese diplomat.
Selling fear, creating enemies and inciting confrontation will not only bring disputes and chaos to the world but will also ultimately harm the U.S. itself, Geng warned.
China has not provided weapons to any party in the Ukraine conflict and has strictly controlled dual-use items, Geng said in response to Deputy U.S. Ambassador to the UN Robert Wood’s accusations that China has provided decisive support for Russia.
Chinese companies engage in regular trade with countries worldwide, including Russia and Ukraine, in compliance with World Trade Organization rules and market principles, and are beyond reproach, Geng added.
From the very beginning, China has called for a ceasefire, an end to hostilities, the resolution of disputes through diplomatic negotiations, and a push toward a political solution, according to the Chinese envoy.
Over the past three years, China has been vocal and active in these efforts, he said. “Who is truly supporting peace, and who is obstructing it? I think the international community sees this very clearly.”
China opposes the United States’ use of the Ukraine issue to discredit and pressure China, imposing unilateral sanctions and illegal “long-arm jurisdiction” on Chinese entities and individuals, Geng said, adding that China will take all necessary measures to protect the legitimate rights and interests of Chinese companies and citizens.
Source: Novosibirsk State University – Novosibirsk State University –
On November 1, as part of the program of the scientific and production forum “Golden Valley”, an interactive event was held by Center for Entrepreneurial Initiatives (Startup Studio) NSU, dedicated to different ways of interaction between high-tech companies and universities.
— One of the most promising formats, in my opinion, is piloting innovations on the basis of the university. We are talking about the application and, at the same time, testing the most modern solutions that are just entering the market in various research projects carried out at the university, as well as possible cooperation with student teams, — explained Maria Galyamova, Director of the NSU Startup Studio.
An example of such cooperation was the joint project of the Safe Tech company and a graduate student Faculty of Medicine and Psychology V. Zelman NSU Anna Kamneva. Anna chose a study at the intersection of psychology and physiology as the topic of her diploma thesis — “The relationship between attributive style and the ability to self-regulate using biological feedback.”
— Biofeedback is a relatively new and very interesting method of therapy, which works on the same principle as artificial intelligence training: training becomes possible with feedback. During biofeedback therapy, we get the opportunity to observe those parameters of the body that we could not previously (for example, brain wave activity — EEG, heart rate, and much more), — said Anna Kamneva.
To carry out her research, she used the Swaid bracelet developed by Safe Tech, which is capable of tracking signs of stress in a person. For this, the stress index according to Baevsky is used. This is a Soviet scientist, one of the founders of space cardiology, who at one time developed a system for assessing the level of stress based on the variability of the heart rate. In addition to the pulse, the device evaluates electrodermal activity (the electrical conductivity of the skin changes depending on the intensity of sweat secretion).
As the company notes, participation in this study is a case that demonstrates the real application of their technologies: the device will be an auxiliary device that will show how the stress level changes during biofeedback training.
The university’s startup studio also sees this collaboration as a successful example, but this time of how the university can serve as a platform for piloting new technologies.
— In fact, there are many options for implementing innovations in the university ecosystem, and the piloting program is one of them. The case mentioned is not the only one, there are other developers who would like to follow the same path. There are proposals from the Medical and Biological Union, interesting joint projects with the Institute of Intelligent Robotics of NSU. And the Startup Studio, taking a step in this direction, claims to become a kind of bridge between the university and Novosibirsk innovators, of whom we have quite a lot. For this purpose, we are holding our own introduction session within the framework of the Golden Valley forum, telling companies how to properly enter the university, — summed up Maria Galyamova.
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.
ACQUISITION OF KNAB BY BAWAG GROUP SUCCESSFULLY COMPLETED
VIENNA, Austria – November 1, 2024 – BAWAG Group today announces the successful completion of the acquisition of Knab, a bank based in the Netherlands. BAWAG Group will work with the Knab leadership team to continue growing the Retail and SME business in the Netherlands, while also providing the operational support and financial strength of a broader banking group.
About BAWAG Group
BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.1 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Western Europe and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need. BAWAG Group’s Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.
Forward looking statement
This release contains “forward-looking statements” regarding the financial condition, results of operations, business plans and future performance of BAWAG Group. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could” and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect management’s expectations as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements as actual results may differ materially from the results predicted. Neither BAWAG Group nor any of its affiliates, advisors or representatives shall have any liability whatso-ever (in negligence or otherwise) for any loss howsoever arising from any use of this report or its content or otherwise arising in connection with this document. This report does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This statement is included for the express purpose of invoking “safe harbor provisions”.
President Lai meets delegation from Foreign Trade and Development Committee of Dutch House of Representatives President Lai meets delegation from Foreign Trade and Development Committee of Dutch House of Representatives 2024-11-01
On the afternoon of November 1, President Lai Ching-te met with a delegation from the Foreign Trade and Development Committee of the Dutch House of Representatives. In remarks, President Lai thanked the House of Representatives for its backing of Taiwan and for urging the Dutch government to prioritize the issue of peace across the Taiwan Strait and strengthen bilateral relations. The president noted that Taiwan and the Netherlands share the values of inclusion, diversity, democracy, and freedom, and that we enjoy close exchanges in such areas as semiconductors, renewable energy, and water resource management. He said that he looks forward to Taiwan and the Netherlands continuing to deepen our partnership in fields including digital trade, cybersecurity, and innovative agriculture as well as to jointly building resilient supply chains for global democracies so as to safeguard the rules-based international free trade order. A translation of President Lai’s remarks follows: I want to start by warmly welcoming Chair of the Foreign Trade and Development Committee of the Dutch House of Representatives Aukje de Vries and her delegation. This is the first time the House of Representatives has organized an official delegation to Taiwan. This large group of members from various Dutch political parties includes the spokespersons for foreign trade and foreign affairs. On behalf of the people of Taiwan, I would like to extend our warmest welcome. This year marks the 400th anniversary of the beginning of Taiwan-Netherlands relations. The Netherlands has made this the Year of Netherlands Innovation and Culture in Taiwan. Your visit serves to further advance bilateral exchanges and cooperation. Taiwan and the Netherlands share the values of inclusion, diversity, democracy, and freedom. We enjoy close exchanges in such areas as semiconductors, renewable energy, and water resource management. And we are both key players in global high-tech supply chains. I look forward to Taiwan and the Netherlands continuing to deepen our partnership in fields including digital trade, cybersecurity, and innovative agriculture. And I also look forward to strengthening each other’s hybrid approach to economic security by jointly building resilient supply chains for global democracies so as to safeguard the rules-based international free trade order. As authoritarian expansion continues, democratic partners must show resolve and work together to safeguard global security and prosperity. I especially want to thank the House of Representatives for its backing of Taiwan. So far this year, it has passed three motions in support of Taiwan. It has urged the Dutch government to prioritize the issue of peace across the Taiwan Strait and strengthen bilateral relations. The Netherlands was also the first country in Europe to pass a parliamentary motion rejecting China’s attempts to distort United Nations General Assembly Resolution 2758 and impede Taiwan’s right to international participation. This year, the Dutch government has demonstrated stronger support for Taiwan than ever before. It congratulated the Taiwanese people for successfully completing elections in January. In May, it dispatched the frigate Tromp to transit the Taiwan Strait, and it publicly voiced indirect support for Taiwan at the World Health Assembly. This all speaks to the Dutch parliament’s staunch backing of Taiwan. In closing, on behalf of the people of Taiwan, I welcome you all again and thank you for visiting, allowing Taiwan and the Netherlands to walk side by side on the road of democracy and freedom. I am confident that by working together we will make even greater contributions to the world. Chair de Vries then delivered remarks, first thanking President Lai for his gracious reception. She noted that this is the first time a delegation like this from the Dutch House of Representatives is visiting Taiwan. Over the last week, she said, they had a very intense program, and yesterday they were here during the typhoon. She added that they were impressed to see how Taiwan deals with this kind of natural phenomenon. She stated that the purpose of their visit is to get a better understanding of Taiwan’s political, economic and social developments, as well as the current state of cross-strait relations. Chair de Vries pointed out that the Netherlands and Taiwan enjoy excellent relations, engaging in intensive exchanges in the fields of trade and innovation, science and innovation, agriculture, education, and culture. And this year is a very special year, she emphasized, just as President Lai mentioned in his remarks, as it is exactly 400 years ago that the Dutch came to Taiwan’s shores for the first time. The chair said that various activities have been organized to mark the occasion through which our shared history is presented in an appropriate, measured, and balanced manner. Chair de Vries remarked that the commonalities and interactions between Taiwan and the Netherlands are manyfold. Firstly, she said, both the Netherlands and Taiwan are vibrant democracies and share respect for human rights as well as the freedom of press and freedom of association. She added that we also take very seriously the issues of sustainable economic development and climate change. The second example she mentioned is our shared values, saying that both Taiwan and the Netherlands are aiming at improving working standards and working environments for our workers. The third example, she said, is in the bilateral economic domain. She pointed out that Taiwan is the second largest export market for the Netherlands in Asia, even before Japan and Korea. The Netherlands is one of the largest European investors in Taiwan, she said, with a total stock of over $35 billion euro of investments. She also noted that over 200 Taiwanese companies are using the Netherlands as a gateway to Europe. Noting that their Committee on Foreign Trade and Development monitors foreign trade and development policies, Chair de Vries said that many of the themes they have discussed this week will be very useful for their work back home, since these policies include trade and investment, climate policy, corporate social responsibility, human rights, and international cooperation in the fields of science and innovation. She added that what they have learned throughout the week will also allow them to execute a monitoring role regarding Dutch policies towards Taiwan and the region as a whole, including cross-strait relations. In that regard, Chair de Vries emphasized, the recent increase in tensions is very much a matter of their concern. She added that the consensus in the Dutch House of Representatives is that any unilateral change in the cross-strait situation must be avoided, and that any dispute must be solved through peaceful means, not by force or coercion. The series of motions adopted over the past few years, she said, reflects the level of support that Taiwan enjoys in the Dutch House of Representatives. In closing, Chair de Vries thanked President Lai for the warm welcome. She remarked that it has been a visit they will never forget and that it has given them confidence that Taiwan and the Netherlands do not only share a rich common past and a fruitful and productive common present, but that we also have a bright and promising future ahead, with ever closer cooperation. The delegation also included Members of Parliament Daniëlle Hirsch, Roelien Kamminga, Isa Kahraman, Jan Paternotte, Derk Boswijk, Dennis Ram, Tom van der Lee, Femke Zeedijk, and Eric van der Burg. The delegation was accompanied to the Presidential Office by Netherlands Office Taipei Representative Guido Tielman.
VICTORIA, Seychelles, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has launched a campaign to celebrate Bitcoin’s 16th Whitepaper Day, with a scintillating theme “Who’s Still Reading Whitepapers?”. This initiative seeks to ignite conversations within the crypto community about the current role of whitepapers in blockchain projects and investment decisions. The event is campaigned around the release of Satoshi Nakamoto’s foundational document and offers an opportunity to reconsider how whitepapers are perceived and whether they remain as influential as they once were in guiding investment strategies and project evaluations.
Survey data gathered by Bitget provides insights into the crypto community’s current views on whitepapers. Of the 5,923 participants surveyed, an overwhelming 92.28% stated that they always read a project’s whitepaper before trading its token, indicating that technical documentation remains crucial for most users. Furthermore, 99.43% of respondents still consider whitepapers necessary, emphasizing their ongoing relevance in establishing a project’s credibility and outlining its foundational principles.
However, the survey also revealed that key opinion leaders (KOLs) play a dominant role in influencing trading decisions. Among participants who do not always read whitepapers, 86.51% rely on KOL recommendations, while only a small percentage turn to research institutions or personal networks. This highlights a growing trend where influencer-driven insights are beginning to compete with whitepaper-based evaluations, reflecting broader shifts in how information is consumed and trusted in the crypto space.
Over the years, whitepapers have been regarded as crucial documents for understanding the technical and strategic intentions of blockchain projects. However, with fast-paced developments in the crypto space, there is growing debate over whether these documents are still a vital tool for investors or if alternative methods of evaluation are taking precedence. Bitget’s research, supported by surveys and consultations with industry insiders, reveals a range of opinions. Some participants continue to view whitepapers as essential for understanding a project’s foundation and long-term goals. Others argue that the rise of new evaluation metrics, such as market trends, project performance, and development teams, has reduced the reliance on whitepapers, with real-world applications and use cases taking center stage.
Insights gathered from these discussions indicate a shift in how the crypto community approaches project evaluation. By creating a platform for this discourse, Bitget encourages users and professionals alike to rethink the tools and resources used in assessing blockchain projects today. With Bitcoin Whitepaper Day as the theme, this campaign shows the ongoing changes in the industry, inviting the community to look ahead and consider new approaches to evaluating the industry’s most promising innovations.
To learn more about Bitcoin Whitepaper Day, check our tweet here.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.