Category: Business

  • MIL-Evening Report: View from The Hill: We have bigger issues around freedom of speech than Lidia Thorpe’s noisy protest

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    King Charles – as the old-fashioned saying goes – didn’t come down in the last shower. He’s unlikely to have been fazed by the outburst from independent senator Lidia Thorpe, who disrupted Monday’s Parliament House reception for the royals.

    And neither, frankly, should anyone else.

    Thorpe, clad in a possum-skin cloak, shouted: “You are not our king.”

    “You destroyed our land. Give us a treaty. We want a treaty in this country. You are a genocidalist.”

    “You committed genocide against our people. Give us our land back. Give us what you stole from us – our bones, our skulls, our babies, our people.”

    The conduct of Thorpe, who used to be with the Greens and is an outspoken advocate of ‘Blak sovereignty’, was rude, albeit absolutely in character. She acts up in the parliament regularly.

    As a senator, Thorpe, who was escorted out of the Great Hall, still yelling, had the right to be at the reception. And it is not the only time a parliamentarian has created a fuss when a dignitary was visiting. In 2003, Greens senator Bob Brown shouted out during the address to the joint houses by US President George W. Bush.

    While not at all condoning Thorpe’s exhibitionism, she wasn’t inciting violence. Was she bringing our parliament into disrepute? Sadly, many parliamentarians do that all the time in less dramatic ways, as visitors to question time will tell you.

    Those muttering that perhaps there should be some parliamentary censure of Thorpe are misguided. As Senate Opposition leader Simon Birmingham pointed out on Tuesday, Thorpe “would probably revel in being censured by the Senate”. The one thing she wants is publicity.

    Thorpe pushes her right to air her views to the limit, but her antics are not at the sharp end of the current “free speech” debate in this country. There are two, very different and much more important, fronts in that debate.

    One relates to the pro-Palestine demonstrations. The other is the government’s attempt to crack down on misinformation and disinformation on digital platforms.

    Those on the political right tend to play down worries about limiting free expression when it comes to the pro-Palestinian demonstrations. On the other hand, they are worried about putting more restrictions on the internet. Those on the left tend to support the battle against misinformation and disinformation on digital platforms, and are less worried about its free speech impact.

    Increasing antisemitism has fuelled calls for the ubiquitous pro-Palestinian protests to be curbed in some way.

    Critics highlight the hate preached on occasion; they say the demonstrations make Jewish Australians feel unsafe, disrupt citizens’ weekends, and are a drag on police resources.

    What are the relevant rights here, and their comparative weights? The right to free expression and protest. The right to feel safe. The right for people to go about their business without undue inconvenience. The tradeoffs are much more complicated than any questions thrown up by Thorpe’s behaviour.

    The number and regularity of the pro-Palestine demonstrations have driven some critics to argue enough is enough. That is not convincing, and nor is the argument that these protests soak up police resources. Unfortunately, these are the costs of preserving the right to protest.

    Much more troubling is that these protests can foster hate and make people feel threatened in their own country. Here balances must be carefully struck, and that’s hard.

    Incitement laws must be enforced. Beyond that, demonstrations have to be managed, so that the protesters’ right to have their say and the safety of others, especially a vulnerable section of the population, are both preserved.

    So for example, it’s important university campuses can have protests (as they always have). But “encampments” on campuses have been properly condemned and should not be allowed.

    Even more complex in the free speech debate is how to deal with disinformation (the deliberate spread of false information) and misinformation (where the misleading is not deliberate).

    The government presently has a bill in parliament seeking to combat misinformation and disinformation on digital platforms. It is a reworked version of a much-attacked earlier draft.

    In her second reading speech on the bill last month, Communications Minister Michelle Rowland said:

    To protect freedom of speech, the bill [which does not apply to “professional news content”] sets a high threshold for the type of misinformation and disinformation that digital platforms must combat on their services – that is, it must be reasonably verifiable as false, misleading or deceptive and reasonably likely to cause or contribute to serious harm.

    The harm must have significant and far-reaching consequences for Australian society, or severe consequences for an individual in Australia.

    Among the “serious harms” in the bill is “harm to the operation or integrity of an electoral or referendum process in Australia”.

    The struggle against misinformation and disinformation on digital platforms will always be a losing one. The reach is just too vast.

    But more particularly, there is also the problem that what is “misinformation” and “disinformation” can be less clear than one might think. On occasion, what seems wrong at the time turns out to be correct later.

    Beyond those obvious points, some material so-labelled is not one or the other but disputed information.

    For example, proponents of the Voice have blamed its loss at least partly on misinformation and disinformation. However, much of this involved highly contested claims, especially about an unpredictable future.

    What this legislation does is push as much responsibility as it can, backed by a regulatory framework, onto the platforms to do the censoring of misinformation and disinformation, thus trying to avoid constitutional issues of implied freedom of political communication.

    Human rights lawyer Frank Brennan has written, “The real challenge for Minister Rowland is that debating such a detailed bill without the backstop of a constitutional or statutory bill of rights recognising the right to freedom of expression, there are no clear guard rails for getting the balance right for ‘the freedom of expression that is so fundamental to our democracy’.”

    All things considered, It is hard to see the bill clearing its obstacle course before the election.

    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.

    ref. View from The Hill: We have bigger issues around freedom of speech than Lidia Thorpe’s noisy protest – https://theconversation.com/view-from-the-hill-we-have-bigger-issues-around-freedom-of-speech-than-lidia-thorpes-noisy-protest-241906

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Economics: AIIB Backs Early-Stage Innovation in India, Investing in Endiya Partners under Venture Capital Investment Program

    Source: Asia Infrastructure Investment Bank

    The Asian Infrastructure Investment Bank (AIIB) has approved investments in Endiya Partners Fund III under the AIIB Venture Capital (VC) Investment Program. The investments will support early-stage companies focused on green and technology-enabled infrastructure in India and Southeast Asia.

    Launched in December 2022, AIIB’s VC Investment Program for Green and Technology-Enabled Infrastructure began with a commitment of USD100 million, with an additional USD30 million for co-investments. The program aims to fill the capital gap for early-stage ventures by investing through small-scale VC funds.

    Endiya Partners Fund III will invest in early-stage start-ups in India, focusing on intellectual property that aligns with AIIB’s strategic priorities.

    “Endiya Partners shares AIIB’s vision of promoting innovation in green and technology-enabled infrastructure through strategic investments in the digital industry, healthcare and enterprise sectors,” said Sateesh Andra, Managing Partner at Endiya Partners. “We thank AIIB for their confidence and LP (limited partners) investment as we drive impactful change.”

    This will be the second signed commitment, previously approved as MSA Emerging Technology Markets Fund I in 2023. The total investment under the VC Program now represents about 20% of its investable corpus. The program’s goal is to build a diversified portfolio of 10 to 12 VC funds across sectors, geographies and stages of development.“These investments are pivotal as they operationalize AIIB’s forward-looking VC Program, with significant potential to grow the innovation landscape in our Members,” said Gregory Liu, AIIB Director General of Financial Institutions and Fund Clients, Global. “Our focus will be to enhance this program by identifying innovative ideas that deliver scalable impacts, creating a portfolio that generates returns and positive outcomes.”

    The investments align with AIIB’s Private Capital Mobilization thematic priority and mission of Financing Infrastructure for Tomorrow, emphasizing technology as a competitive advantage. AIIB’s Environmental and Social Policy applies to the program, ensuring that each VC Fund adheres to the Bank’s environmental and social standards.

    About AIIB

    The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

    MIL OSI Economics

  • MIL-OSI: Recording of LHV Group’s 22 October investor webinar

    Source: GlobeNewswire (MIL-OSI)

    To give an overview of the 2024 Q3 and nine month financial results, LHV Group organised an investor meeting webinar on 22 October. An overview of the company’s progress was given by Madis Toomsalu, Chairman of the Management Board of LHV Group and Meelis Paakspuu, CFO of LHV Group.

    The live coverage was followed by 38 participants, the live feed of the presentation was broadcast over Zoom.

    Recording of the investor meeting (in Estonian) is available at: https://youtu.be/JCNtp004Z48 

    LHV Group is the largest domestic financial group and capital provider in Estonia. The LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs nearly 1,200 people. As at the end of September, LHV’s banking services are being used by 445,000 clients, the pension funds managed by LHV have 116,000 active clients, and LHV Kindlustus protects a total of 169,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Marthi Lepik
    Communication Specialist
    Phone: +372 5666 2944
    Email: marthi.lepik@lhv.ee   

    The MIL Network

  • MIL-OSI Economics: BoBC Auction Results – 22 October 2024

    Source: Bank of Botswana

    The Monetary Policy Rate (MoPR) was unchanged at 1.9 percent of the previous week, for a paper maturing on 29 October 2024.  The summarised results of the auction held on 22 October 2024, are attached below:

    BOBC Results 22 October 2024.pdf

    MIL OSI Economics

  • MIL-OSI: Everest Business Funding Named a 2024 Best and Brightest Company to Work For in the Nation

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) — Everest Business Funding is proud to announce its inclusion on the list of 2024 Best and Brightest Companies to Work For in the Nation. This prestigious award, bestowed by the National Association for Business Resources (NABR), honors companies that excel in innovative business practices and human resource strategies. These are companies that distinguish themselves as industry leaders.

    The Best and Brightest Companies to Work For award highlights businesses across the United States that prioritize employee engagement, workforce development, and workplace culture. The award-winners were evaluated by an independent research firm on various metrics, including compensation, benefits, employee engagement, diversity and inclusion initiatives, and community involvement.

    Everest Business Funding provides revenue-based financing to entrepreneurs and business owners. The company is committed to helping those with strong entrepreneurial spirits obtain working capital in order to accelerate growth. Everest Business Funding’s leaders understand that its team members are foundational to this mission of providing hassle-free funding to eligible parties.

    The recognition from NABR reflects the company’s commitment to fostering an inclusive work environment and high-performing workforce. Everest Business Funding’s leadership team has emphasized the importance of employee well-being and engagement as critical components of the company’s success. By implementing innovative human resources practices, the team has created an environment that promotes growth and collaboration.

    Everest Business Funding is honored to receive this national recognition. The company strives to place employees at the core of everything it does and is committed to creating a positive and supportive environment where everyone can thrive. This award is a testament to the dedication and passion of Everest Business Funding’s leadership team as well as the individual commitment of each of its employees.

    With this recognition as one of the Best and Brightest Companies to Work For, Everest Business Funding reinforces its position as an industry leader that values its employees and remains committed to creating a workplace that encourages innovation, collaboration, and professional development.

    The Best and Brightest Companies to Work For award is part of a national program conducted by NABR, which has over 25 years of experience recognizing companies with exceptional workplace standards. The winners were selected based on a comprehensive review of factors such as employee retention, work-life balance, and leadership strategies.

    NABR’s comprehensive selection process adds to the prestige of the award. Only the best of the best make it onto the annual list, and Everest Business Funding is proud to have been recognized as one of the premier organizations in the country.

    About Everest Business Funding

    Everest Business Funding provides alternative finance options and revenue-based funding to small business owners. They serve a diverse pool of businesses, from healthcare to retail, to help them obtain working capital to grow, buy inventory, launch marketing campaigns, or hire staff. Everest Business Funding’s clients are treated with respect and receive high-quality guidance and service from its professionals.

    Media Contact
    Anthony Parker
    Everest Business Funding
    888-342-5709
    Info@everestbusinessfunding.com

    The MIL Network

  • MIL-OSI China: China’s forex market turnover up 10.1%

    Source: China State Council Information Office

    China’s foreign exchange market saw a turnover of 30.27 trillion U.S. dollars in the first three quarters of this year, up 10.1 percent year on year, official data showed Tuesday.

    Trading on the foreign exchange market was active in this period, the State Administration of Foreign Exchange said at a press conference.

    MIL OSI China News

  • MIL-OSI United Kingdom: Flagship Government export initiative to be sponsored by Santander UK

    Source: United Kingdom – Executive Government & Departments

    Santander UK has committed to a three-year sponsorship of a programme of Department for Business and Trade (DBT) events.

    Santander UK has committed to a three-year sponsorship of a programme of Department for Business and Trade (DBT) events, which will help UK businesses of all sizes realise the opportunities presented by global trade.

    The sponsorship will cover DBT’s flagship annual export initiative, International Trade Week, taking place from 11th to 15th November 2024, as well as the UK Export Academy and a number of international trade shows.

    Now in its fourth year, International Trade Week is a collaboration between DBT and industry featuring a variety of free activities such as masterclasses, workshops and webinars. It’s aimed at all UK businesses, whether they are looking to secure their first export contract or expand their existing international sales.
    Themes running through the week this year include digital trade, selling to Europe and exporting for the first time, although events will cover a wide range of topics. Attendees will be able to develop their exporting knowledge and skills, hear from international-trade experts and learn about the support on offer from DBT and its partners, including Santander UK.

    DBT and Santander UK share a common goal; to help UK SMEs grow through exports. This partnership demonstrates that both organisations are working hand in hand to that end.

    John Carroll, Head of International and Transactional Banking, Santander UK, said:

    “It’s an exciting time to be a UK business looking to expand globally, but it’s not without its challenges. Our Trade Barometer research shows that businesses are calling out for more support from government and the private sector, and we’re pleased to be working with DBT to play our part in helping businesses turn their international dreams into a reality.

    “Through our local connections, international teams and digital international trade platform, Santander Navigator, we’ve already helped over 1,500 companies grow internationally since 2019.  We are thrilled to be supporting International Trade Week as part of the launch of a multi-year partnership, enabling us to make a difference to the UK’s economic growth by supporting even more UK businesses in taking their next step on their export journeys.”

    Gareth Thomas, Minister for Exports, said:

    “When businesses export, they hire more staff and increase wages which all helps to grow the economy. That’s why we’re working with businesses of all sizes to cut trade barriers and open new routes to market.

    “Santander’s three-year backing of our International Trade Week is a strong endorsement of the UK’s trade and investment strategy, as we work together to get more small businesses growing and exporting around the world.”

    Businesses can register for International Trade Week at: great.gov.uk/campaign-site/itw.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom

  • MIL-OSI: Gilat Satellite Networks to Attend APEX/IFSA Conference to Discuss State-of the Art In-Flight Connectivity Solutions for Aviation Markets

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, Oct. 22, 2024 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today its attendance at the APEX/IFSA Global Expo in Long Beach, California, from October 28-30, 2024. Gilat is inviting participants to schedule meetings to discuss their in-flight connectivity (IFC) needs and explore how Gilat’s advanced ESA (Electronically Steered Antenna), SSPA (Solid-State Power Amplifier), KPSU (Ka/KU Power Supply Unit), and FCU (Frequency Converter Unit) solutions are transforming in-flight connectivity.

    Driving the Future of IFC with Cutting-Edge ESA Technology

    Gilat’s innovative, single LRU solution ESAs are ideal for commercial, business, and military aviation, providing robust, reliable, and seamless satellite connectivity. With the best size, weight and power in its class, these state-of-the-art solutions meet the increasing demand for high-performance IFC across the globe.

    In addition to its ESA technology, Gilat’s Wavestream subsidiary offers market-leading SSPAs (Solid-State Power Amplifiers), KPSUs (Ka/Ku-band Power Supply Units), and FCUs (Frequency Converter Units.) These components are designed to ensure optimal performance and efficiency, delivering high-speed internet services for passengers on both large commercial aircraft and private business jets.

    Meet with Us at APEX/IFSA

    Gilat invites APEX/IFSA attendees to set up meetings with its team to discuss the evolving needs of in-flight connectivity and learn more about its innovative satellite solutions. Airline and IFC service providers are encouraged to connect with Gilat to explore how its technology can enhance their in-flight connectivity offerings.

    To schedule a meeting with Gilat at the APEX/IFSA Global Expo, please contact either Timor Blau at 858-999-1036 or Raju Chandra at 909-741-0600, raju.chandra@wavestream.com.

    About Gilat

    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground, and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.

    Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the current terrorist attacks by Hamas, and the war and hostilities between Israel and Hamas, and Israel and Hezbollah and Iran; and other factors discussed under the heading “Risk Factors” in Gilat’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and Gilat undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:

    Gilat Satellite Networks
    Hagay Katz, Chief Products and Marketing Officer
    HagayK@gilat.com

    The MIL Network

  • MIL-OSI Economics: Zetes invests in Autonomous Mobile Robots company Robotize

    Source: Panasonic

    Headline: Zetes invests in Autonomous Mobile Robots company Robotize

    Zetes’ investment in Robotize was a natural progression, as both companies share a common mission: to deliver value-added solutions that enhance, rather than replace, human capabilities.
    Pierre Lambert, CEO of Zetes, commented: “We are excited about our new investment in Robotize. Both of our companies are driven by the same values—delivering top-tier solutions that empower our customers and elevate service quality. This perfectly aligns as well with our mother company, Panasonic. Together, we will develop comprehensive solutions that will enhance internal logistics operations and support our customers’ evolving needs.”
    Anders Pjetursson, CEO of Robotize, echoed this enthusiasm: “Joining forces with Zetes opens up new possibilities for us, as our first successful collaborations have already demonstrated. Zetes’ impressive portfolio of customers provides the perfect foundation to expand our capabilities as our specialized AMRs are a perfect fit with Zetes high-quality business applications.”

    MIL OSI Economics

  • MIL-OSI: Havila Shipping ASA: Notice of Extraordinary General Meeting

    Source: GlobeNewswire (MIL-OSI)

    The Board of Directors of Havila Shipping ASA hereby gives notice of 

    Extraordinary General Meeting.

    The meeting will take place on 12 November, 2024, at 10 :00hours.

    The meeting will be held as a digital meeeting only, with no physical attendance for shareholders.

    The notice will be sent to shareholders, by post to the registered address in VPS, or through VPS.

    Contacts:

    Chief Executive Officer Njål Sævik, +47 909 35 722

    Chief Financial Officer Arne Johan Dale, +47 909 87 706

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    Attachment

    The MIL Network

  • MIL-OSI Russia: Polytechnic students are winners of the competition for St. Petersburg government awards

    Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The Diploma Project Commission summed up the results of the competition for the St. Petersburg Government Prize. For the implementation of diploma projects in the 2023/2024 academic year, 33 executive bodies of state power offered students 116 topics for work. 72 people won the competition, seven of whom are SPbPU students. All of them represent the Institute of Industrial Management, Economics and Trade.

    1. Maria Gorshenina, graduate of the Master’s program at the Higher School of Industrial Management, Energy Management program, scientific supervisor: Associate Professor at the Higher School of Industrial Management Inga Skvortsova.

    Project “Analysis and ranking of factors promoting and hindering the introduction of renewable energy sources in the engineering and energy complex of St. Petersburg”. The aim of the study was to improve the elaboration of the scientific base for assessing the feasibility of introducing renewable energy sources into a specific regional energy system by identifying and analyzing key factors that form the environment within which the operation of renewable energy sources is planned in the region.

    To be honest, this work is a story of constant improvements and refinements, as I always wanted to improve my project. The result was worth it: victory in the St. Petersburg government diploma project competition, second place in the TGK-1 competition and, most importantly, my own satisfaction with the work done, Maria shared her impressions.

    2. Leonid Alkhimovich, a graduate of the bachelor’s degree program of the Higher School of Industrial Management, international educational program “International Business”, scientific supervisor: associate professor of the Higher School of Industrial Management Ksenia Kikkas.

    The topic of the thesis is “Corporate training – gamification as a basis for effective interaction in the work process”. The choice of the topic is associated with the rapid development of technologies in the field of corporate training, digital methods of professional development and increasing employee engagement. One of the most common tools in this area is gamification.

    3. Evelina Polushkina, Bachelor of the Higher School of Administrative Management in the direction of “State and Municipal Administration”. The project “The Impact of Digitalization on the Process of State Support for Business” was developed under the supervision of HSAM Associate Professor Maxim Ivanov. During the final qualifying work, recommendations were developed for improving the provision of state support by changing the internal processes for ensuring the operation of digital services, as well as creating directions for their popularization among small and medium-sized businesses.

    Participation in the competition was a very useful and necessary experience for me. I positively evaluate the experience of communication with the executive bodies of St. Petersburg in the person of civil servants, who promptly provided the necessary information and statistics on my topic. I believe that the topic of state support for business is relevant at the moment, so I am glad that the city authorities are actively involved in its implementation and are constantly developing this industry, including with the help of digital technologies, – Evelina noted.

    4. Elizaveta Parkhomchuk, Master of the Higher School of Administrative Management in the direction of “State and Municipal Administration”. Under the supervision of HSAM Associate Professor Tamara Selentyeva, she completed the work “Development of projects for methodological assistance in supporting small and medium-sized businesses in the executive bodies of state power”, which is aimed at creating recommendations for executive bodies of state power to improve the process of providing assistance and support to small and medium-sized businesses. This work was done jointly with specialists from the Center for Development and Support of Entrepreneurship of St. Petersburg.

    5. Mikhail Kiryushatov, a graduate of the bachelor’s degree program at the Higher School of Service and Trade, majoring in “Trade Business”, scientific supervisor: associate professor at the Higher School of Service and Trade Irina Kapustina. The project was called “Analysis of the possibilities of expanding economic cooperation between St. Petersburg and cities of ASEAN countries in modern conditions.”

    The most memorable events were the off-site events in which the External Relations Committee took part. The first of these was the XXIII International Forum “Ecology of the Big City”, where a student of the Higher School of Social and Technical Studies accompanied a delegation from Myanmar headed by the Deputy Minister of Natural Resources and Environmental Protection Min Tu, and also carried out communication at a meeting with Russian partners in the field of geology, Mikhail shared.

    6. Ksenia Fisun, a graduate of the bachelor’s degree program at the Higher School of Service and Trade, majoring in “Trade Business”, scientific supervisor: Associate Professor of the Higher School of Service and Trade Vladimir Bakharev. Her project was called “Trends and Factors Influencing the Development of Small and Medium-Sized Businesses in St. Petersburg”.

    Participation in the project was a very interesting experience for me! Thanks to it, I got acquainted with the activities of government agencies from the inside, and also learned more about the sphere of small and medium entrepreneurship in our city. I am grateful to the Polytechnic University and the government of St. Petersburg for the opportunity to participate in such a project! – shared Ksenia.

    7. Karina Allahverdiyeva, graduate of the Master’s program of the Higher School of Service and Trade, the program “Quality Management at the Enterprise” under the supervision of Associate Professor of the Higher School of Service and Trade Boris Lyamin. The project work on the topic “Monitoring of food products based on the KPPIT as a promising form of quality control and product safety” consisted of identifying discrepancies in the food product monitoring process, assessing the quality control process of samples, developing recommendations for improving and optimizing the food product monitoring process in the testing laboratory of the IL “PETEKS”. It is worth noting that the results of the project work were agreed upon, approved and applied by the head of the testing laboratory.

    The winners will be awarded in November during the St. Petersburg International Scientific and Educational Salon, the city’s largest event aimed at demonstrating educational, scientific research and innovation activities.

    According to statistics, most of the winners of this competition are employed in city administrative structures. It is also worth noting that this year the prize amount has been increased from 16 thousand rubles to 30 thousand rubles for each winner.

    I am proud of our students! IPMET regularly participates and annually remains among the leaders in the number of winners. And this year is a particularly significant event for the entire institute – seven winners from the Polytechnic University and all IPMET students! Your achievements are the result of hard work, creativity and commitment to high quality work. I wish you further success in your professional activities, may your victories continue to delight us with new achievements, – shared the director of IPMET Vladimir Shchepinin.

    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.

    MIL OSI Russia News

  • MIL-OSI Global: Cameroon after Paul Biya: poverty, uncertainty and a precarious succession battle

    Source: The Conversation – Africa – By David E Kiwuwa, Associate Professor of International Studies, University of Nottingham

    Cameroon’s President Paul Biya is 91 years old. He is Africa’s oldest head of state and only one has served longer: President Teodoro Obiang Nguema of neighbouring Equatorial Guinea, who is 82 years old.

    Biya has been Cameroon’s president since 1982. Prior to that, he was prime minister from 1975.

    In recent weeks there has been growing speculation about the nonagenarian’s health. Some rumours even suggested that he had died. This led the Cameroonian government to issue a statement banning all reports about his health.

    These cycles of rumour have recurred whenever Biya has “gone missing” for extended periods of time. Before he arrived at Yaoundé’s international airport on 21 October, Biya was last seen in public on 8 September, when he attended a China-Africa forum in Beijing.

    Cameroon has known only two presidents since independence. For 60% of the country’s youth population, Biya is the only president they have known.




    Read more:
    Paul Biya has been Cameroon’s president for 40 years – and he might win office yet again


    The country finds itself in a precarious situation, uncertain about what will happen after Biya, who has ruled with an iron fist.

    Long term incumbencies don’t usually end well. Examples across the continent illustrate the high potential for political instability. The most vivid cases include Libya, Tunisia, Sudan, Gabon, Chad and the Democratic Republic of Congo.

    For me as an associate professor of international studies and researcher of regime transformation in Africa, Cameroon holds specific interest because of its regime resilience over the decades, when many in the region haven’t fared as well.

    My view is that Cameroon will, sooner rather than later, hit an inflection point post-Biya. Cameroon lacks strong constitutional guard rails, so succession is bound to be a very messy affair.

    Second, due to years of nepotism and tribalism institutionalised by Biya, there will be heightened potential for regional and ethnic tensions or conflict – even a general breakdown of law and order.

    Lastly, the military establishment could well make a move in the name of safeguarding the republic in times of uncertainty.

    The legacy

    Cameroon is endowed with abundant resources, including oil, gas and timber. It is also strategically located at a crossroads between west and central Africa on the Atlantic coast, an entry point to landlocked inner regions.

    Yet, according to the World Food Programme, over 55% of Cameroonians live in poverty and 37.7% are severely impoverished.

    The country’s infrastructure is in poor shape. While the Douala port has been modernised and railway regional linkages such as the Douala-Yaoundé lines have been expanded, road and railway infrastructure are barely functional.

    According to Transparency International, corruption is endemic in Cameroon. The country ranks 140th out of 180. This is despite official efforts to do something about it.

    In 1982 Biya capitalised on the anti-corruption sentiment that had been directed at the Amadou Ahidjo regime. Biya promised an anti-corruption “new deal”. Despite initial progress, by the early 1990s Cameroon was topping the world’s corruption tables.

    Critics suggest that Biya has also used his anti-corruption drive to keep his potential competitors in check.

    Nepotism and tribalism continue as Biya has established a patron-client state system. For example, the Beti people, who are the president’s ethnic kin, are reported to take up a disproportionate slice of senior positions in government and the military. Yet they account for a small percentage of the population.

    This has bred a kleptocratic system matched only by widespread communal resentment.




    Read more:
    Cameroon: how language plunged a country into deadly conflict with no end in sight


    There are other deep fissures in Cameroonian society. Socially, the country became a federated entity at independence in 1960. Two language groups – French and English speaking – came together for a United Republic of Cameroon.

    For a while this unity held. But increasing disenchantment with Biya’s regime, especially the marginalisation of the Anglophone south-west, developed into a rebellion in 2016. Thousands of people have been killed and tens of thousands displaced. It has also resulted in an increased crackdown by the central authority.

    Today, Cameroon is a fractured society with the south-west calling for increased autonomy and language justice and even self-determination. The creation of the Commission of Bilingualism and Multiculturalism and designating special status to the rebellious regions has done little to quell the crisis.

    Regional role

    Regionally, Cameroon has been a key partner for the US and France through tackling Boko Haram in the region. The country has been directly affected by the attacks of this Islamist group, which originated in Nigeria and has extended its reign of terror across the region.

    The anti-terror campaign has seen a close US-France-Cameroon relationship with military and intelligence strategic cooperation.

    Equally Biya can be lauded for having peacefully settled the Bakassi peninsula crisis with Nigeria, a territorial border dispute, thereby averting regional instability.

    There are not yet obvious signs that, after Biya, the Franco-Cameroon relationship would come under strain similar to other scenarios in the region.

    France has built a steady political and economic relationship with Cameroon, investing heavily in the region, providing political cover to the regime and entering into a defence pact.

    This relationship has also benefited many a political and military elite. Barring any monumental development, it is bound to be sustained in the post-Biya era.




    Read more:
    Cameroon spends 90% of Chinese development loans on its French region: this could deepen the country’s divisions


    Fractured political landscape

    Biya’s longevity at the helm of Cameroon politics is testament to his ability to mobilise all state resources, power and constitutional levers for his lifetime presidency. He has outmanoeuvred all political competitors.

    This has enabled him to avoid the fate of neighbouring countries such as Central African Republic, Niger, Chad and Gabon, where governments have been overthrown by military coups.

    In 1992 Biya agreed to a multiparty dispensation. But since then, he has engineered removal of term limits and he is on his seventh term of office.

    But in the evening of his years, and in the absence of a designated successor or an elite pact, there is a real possibility that various factions of the Biya regime such as that of Frank Biya, Ngoh Ngoh, Laurent Esso or even the military will jostle and fight for power.

    Without a political culture of constitutional constraint, instability seems inevitable. And the south-west rebellion might escalate its military and political pressure for better leverage with whoever comes to power post-Biya.

    Whether the next political leadership will be able to set a transformative agenda for socio-political reconciliation and national renewal will be dictated by their ability to strike a grand compromise.

    David E Kiwuwa 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.

    ref. Cameroon after Paul Biya: poverty, uncertainty and a precarious succession battle – https://theconversation.com/cameroon-after-paul-biya-poverty-uncertainty-and-a-precarious-succession-battle-241312

    MIL OSI – Global Reports

  • MIL-OSI Submissions: Business – Gebrüder Weiss celebrates 20th anniversary in Serbia

    Source: Gebrüder Weiss

    Since its start two decades ago, the logistics company has invested more than 20 million euros in the development of its network and services in Serbia / New logistics warehouse at the headquarters near Belgrade / Pioneer in the dual training of logistics

    Belgrade / Lauterach, October 22, 2024. Twenty years after entering the Serbian market, the international transport and logistics company Gebrüder Weiss take positive stock. “Serbia has undergone a remarkable economic development in recent years. Our decision to establish a central logistics hub for the Western Balkans here has proven to be the right one,” explained Wolfram Senger-Weiss, CEO of Gebrüder Weiss, to media representatives in Belgrade on October 18.

    Serbia has developed into an attractive procurement market for automotive parts, food, textiles, and furniture, with around 70 percent of exports going to the EU. In addition, the Balkan country is the main supplier of agricultural products to many of its neighboring countries, including Albania, Bosnia and Herzegovina, Montenegro and North Macedonia.

    Today, Gebrüder Weiss offers its customers in Serbia land, air and sea freight transport, customs clearance and logistics solutions. Groupage freight shipments go to neighboring countries and the EU single market several times a week. The logistics provider has a total of 20,000 square meters of logistics space in the country. In 2023, the company generated net revenue of 53 million euros.

    In addition to its headquarters in Dobanovci near Belgrade, Gebrüder Weiss has three other locations in Serbia: in Novi Sad in the north and in Niš and Strojkovce near Leskovac in the south. A new logistics warehouse in Dobanovci recently commenced operations. The company has already invested over 20 million euros in its logistics facilities. “By the end of the year, we will have invested an additional million euros in our home delivery services and additional warehouse space,” says Thomas Schauer, Regional Manager for Central and Southeastern Europe at Gebrüder Weiss.

    Another area of focus is sustainability. For example, the Dobanovci location obtains all of its electricity from a solar power plant, reducing CO2 emissions by 90 tons per year. Eight natural gas trucks (CNG) operate on four routes for the consumer goods industry. In addition, detergents and cleaning agents are transported sustainably by rail to Germany. “Every year, 1,500 containers roll by rail from Budapest to the Ruhr area. This saves us more than a thousand tons of CO2 compared to conventional truck transport,” explains Roland Raith, Country Manager Serbia at Gebrüder Weiss. Next year, zero-emission e-transporters will also be used for deliveries to end customers in Serbia.

    Starting with a small office in Belgrade in 2004, Gebrüder Weiss now employs 300 people in Serbia. Gebrüder Weiss was one of the first logistics companies to implement the principle of dual training for young professionals there. Since 2018, young professionals have been receiving both on-the-job and academic training in cooperation with the Transport and Technical School in Belgrade. “We offer young professionals long-term career prospects in a range of logistics occupations,” says Roland Raith.

    Gebrüder Weiss Serbia at a glance:

    Founded: 2004
    2023 annual revenue: 53 million euros
    Employees: 300
    Logistics area: 20,000 square meters
    Investment volume since market entry: over 20 million euros
    Latest expansion: 3,600 square meters of new warehouse space at the Dobanovci headquarters
    Overland shipments handled in 2023: 290,000
    Home deliveries in 2023: 62,000
    20 Years GW Serbia

    About Gebrüder Weiss

    Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,600 employees at 180 company-owned locations. The company generated revenues of 2.46 billion euros in 2023. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. http://www.gw-world.com

    MIL OSI – Submitted News

  • MIL-OSI: Arab Petroleum Pipelines Company “SUMED” Signs Agreement with Soukhna Refinery and Petrochemical Company “SRPC”

    Source: GlobeNewswire (MIL-OSI)

    CAIRO, Oct. 22, 2024 (GLOBE NEWSWIRE) — Mr. George Matharu, President of Elite Capital & Co. Limited “ECC” (Financial Lead Arranger of Soukhna Refinery), and His Excellency Eng. Sameh Fahmy, Chairman of Egyptian Petroleum Investments Corporation “EPI Corp.” (Founding Director and Lead Consultant of Soukhna Refinery), announced today that the Arab Petroleum Pipelines Company “SUMED” has signed a Term Sheet for handling, storing, and transferring crude oil feedstock and petroleum products with the Soukhna Refinery and Petrochemical Company “SRPC”.

    “SUMED signing the Term Sheet with Soukhna Refinery – SRPC will reduce the refinery construction cost by USD 700 Million, making the project’s capital USD 4.7 Billion, which will positively reflect on the appetite of targeted investors to enter as partners into the project, while reducing any future financing burdens and contributing to the expected financing process,” Mr. George Matharu said.

    The SUMED Pipeline (also known as the Suez-Mediterranean Pipeline) is an oil pipeline in Egypt, running from the Ain Sokhna terminal in the Gulf of Suez, the northernmost terminus of the Red Sea, to offshore Sidi Kerir port, Alexandria in the Mediterranean Sea. It provides an alternative to the Suez Canal for transporting oil from the Arabian Gulf region to the Mediterranean.

    The pipeline is owned by the Arab Petroleum Pipelines Company “SUMED”, a joint venture of Egyptian General Petroleum Corporation “EGPC” (50%, Egypt), Saudi Aramco (15%, Saudi Arabia), Mubadala Investment Company “Formerly IPIC” (15%, the United Arab Emirates), Kuwait Investment Authority “KIA” (15%, Kuwait), and QatarEnergy (5%, Qatar).

    His Excellency Eng. Sameh Fahmy, Chairman of EPI Corp (former Minister of Petroleum), added, “Soukhna Refinery and Petrochemical Company – SRPC is a promising project and will be one of the most important petroleum and petrochemical projects globally, especially since it is located in the heart of the world to serve four important markets – Europe, Asia, the Middle East, and Africa. Therefore, the project’s success is inevitable, as all companies involved in this project are currently cooperating with Elite Capital & Co. Limited to provide the necessary financing to build it.”

    SRPC’s Project is a petroleum complex consisting of an oil refinery, petrochemical technology, mini hospital, and petroleum studies institute. This project is located at the heart of the Suez Canal Economic Zone, specifically in Ain Sokhna, and it is surrounded by the continents of Asia from the east, Europe from the north, and Africa from the west.

    The refining capacity of the oil refinery is 208 thousand barrels per day, which will be relied upon in selling oil derivatives and fed by petrochemical technology, and therefore the project will be one of the world scale state of the art strategic refinery project in the world in selling oil derivatives and petrochemical products.

    “Implementation of the project will support the economy of Egypt, which witnessed remarkable development in all sectors during the era of His Excellency President Abdel Fattah El-Sisi, and which are expected to flourish in the coming period,” Eng. Sameh Fahmy said.

    Elite Capital & Co. Limited is a Financial Management company that provides project-related services including Management, Consultancy, and Funding, particularly for large infrastructure and mega commercial projects.

    Elite Capital & Co. Limited offers a wealth of experience in Banking and Financial transactions and has a range of specialized advisory services for private clients, medium and large corporations as well as governments. It is also the exclusive manager of the Government Future Financing 2030 Program®.

    Mr. George Matharu concluded his statement by saying: “We are currently working on preliminary negotiations with international sovereign entities to enter the project as major partners representing the main source of crude oil supply to the refinery. After that, we will move to the potential financing process according to the data that will be available at the time.”

    Elite Capital & Co. – Contact Details –

    Elite Capital & Co. Limited
    33 St. James Square
    London, SW1Y4JS
    United Kingdom

    Telephone: +44 (0) 203 709 5060
    SWIFT Code: ELCTGB21
    LEI Code: 254900NNN237BBHG7S26

    Website: ec.uk.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ccd23ff-3956-40af-9c99-7fa85dfd3325

    The MIL Network

  • MIL-OSI Europe: The EBA clarifies the procedure for the classification of asset referenced tokens and e-money tokens as significant and the transfer of supervisory powers between the EBA and competent authorities

    Source: European Banking Authority

    The European Banking Authority (EBA) published today a Decision setting out the procedural aspects related to the significance assessment of asset-referenced tokens (ARTs) and e-money tokens (EMTs) and the transfer of supervisory responsibilities, including the establishment of supervisory colleges for significant ARTs (s-ARTs) and significant EMTs (s-EMTs).

    The Markets in Crypto Assets Regulation (MiCAR) sets out a new supervisory regime for ART and EMT issuers, which includes significance assessments and reassessments of ARTs and EMTs by the EBA, transfer of supervisory responsibilities from national competent authorities to the EBA and the establishment of supervisory colleges for s-ARTs and s-EMTs. 

    In its Decision, the EBA details the following procedural aspects:

    • it introduces a harmonised reporting calendar for national competent authorities and clarifies the respective reference periods and remittance dates.   
    • it clarifies the reporting obligations for issuers of s-ARTs and s-EMTs and the reporting of data relevant for the establishment of the supervisory colleges. 
    • it sets out the procedural arrangements and timeline to be followed for the consultation procedures with related parties when the EBA is to notify its draft and final decisions on significance assessment to the home NCA of the issuer, the issuer, the ECB and the national central bank, where relevant.  
    • it establishes the procedural steps and information required in this respect to support a smooth transition of supervisory competences between the EBA and national competent authorities for issuers of s-ARTs and issuers of s-EMTs.
    • it provides for different templates to facilitate the implementation of the procedure, including a template for national competent authorities’ notification of voluntary classification requests from issuers of ART and EMT and a template for the issuer, the competent authority of the issuer’s home Member State, the ECB and relevant central bank to provide observations and comments in writing to the EBA’s draft decision to classify or to no longer classify an ART or EMT as significant.

    Legal basis and background

    The EBA Decision EBA/DC/558 was adopted on the basis of Articles 35 and 44 of Regulation (EU) No 1093/2010 (EBA Regulation), and Articles 43, 44, 56, 57, 117, 119 of Regulation (EU) 2023/1114 (MiCAR).

    The EBA is responsible for carrying out assessments of ARTs and EMTs in order to identify if they meet the criteria for significance as set out in MiCAR. When classifying an ART or EMT as ‘significant’, the EBA is responsible for carrying out relevant supervisory tasks under MiCAR, including establishing, managing and chairing supervisory colleges. 

    The EBA is responsible for conducting direct supervision of issuers of s-ARTs, while s-EMTs (where issued by electronic money institutions) are subject to ‘dual supervision’ by the EBA and the respective home NCA. The EBA will exercise its supervisory powers in close cooperation with any other competent authorities responsible for supervising the respective issuers (in cases where the issuer also carries out other financial services activities). As part of its supervisory activities, the EBA may request information from issuers, conduct investigations, carry out on-site inspections, take supervisory measures and impose fines. 

    The EBA is continuously and actively engaging with national competent authorities to ensure it can carry out effectively its supervision mandate under MiCAR.  

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: Fraudulent websites and phishing instant messages related to Bank Julius Baer & Co. Ltd.

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

         The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank Julius Baer & Co. Ltd. relating to fraudulent websites and phishing instant messages, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.

         The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).

         Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the websites or instant messages concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.

    MIL OSI Asia Pacific News

  • MIL-OSI United Kingdom: Applications for Policy Masterclasses are now open

    Source: United Kingdom – Executive Government & Departments

    An update on the policy training courses OIT offers academics

    The Open Innovation Team (OIT) is now welcoming enquiries from UK universities for its highly regarded Policy Masterclass programme.

    OIT has delivered bespoke policy training to academics since 2016, helping them better understand the policymaking process and how they can influence it.

    The Policy Masterclass is:

    • Tailored to attendee needs: delivered by experienced civil servants, the training can be customised to suit any skill level.
    • Interactive and practical: participants will learn how policy works in practice, how to engage with policymakers and what tactics they can use to inform the policy process, including how to ensure their voices are heard in the decision-making process.
    • Provides hands-on experience : the session includes exercises and discussions designed to help participants directly apply what they’ve learned to their own work.

    We are offering the Masterclass for group bookings from people within the same institution and can also accommodate individual participants in mixed-group courses.

    Please note that as a cost-recovery team, OIT charges a fee for this training, which varies based on the course’s duration, complexity and customisation.

    For more information about our training options, pricing, and to book, please email us at enquiries@openinnovation.gov.uk

    Follow our LinkedIn page for the latest OIT news.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Sign up to hear about our events for civil servants

    Source: United Kingdom – Executive Government & Departments

    Our new season of Outside:In is here!

    Outside:In, the online speaker series for civil servants organised by HM Government’s Open Innovation Team, has returned for 2024-25.

    Featuring high-profile speakers from across academia and industry, Outside:In aims to provide thought-provoking discussion relevant to policymakers and government.

    Previous speakers have included the Nobel-prize-winning economist and MIT professor Daron Acemoglu, historian Adam Tooze, Harvard professor and social scientist Shoshana Zuboff, foreign policy expert and presidential advisor Fiona Hill, governance scholar and digital innovation expert Beth Simone Noveck, and astronaut Tim Peake.

    The events are for civil servants only, and you’ll need a gov.uk (or equivalent) email address to register.

    Sign up to our mailing list

    Follow our LinkedIn page for the latest OIT news

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Global: How finance can be part of the solution to the world’s biodiversity crisis

    Source: The Conversation – UK – By Emma O’Donnell, Research Assistant, Environmental Change Institute and PhD Candidate, Nature-based Solutions Initiative, University of Oxford

    Nature loss should be treated with the same urgency as climate change. NOBUHIRO ASADA/Shutterstock

    More than half of the world’s total GDP is at least moderately dependent on nature. Yet arguably, there is no economy (or life) without nature. A quarter of animal and planet species are now threatened, and 14 out of 18 key ecosystem services – including fertile soils to grow food, flood and disease control and regulation of air and water pollution – are in decline.

    These ecosystem services are essential and have no easy substitutes. Despite this, almost US$7 trillion (£5.4 trillion) per year is spent by governments and the private sector on subsidies and economic activities that have a negative impact on nature – including intensive agriculture and fossil-fuel subsidies. This compares to only US$200 billion that is spent on nature-based solutions (just a third of what is estimated to be needed).

    Although the biodiversity crisis has often been overshadowed by climate change on the global stage, the tide is turning. In 2022, the Kunming-Montreal global biodiversity framework was adopted with its overarching goal to halt and reverse biodiversity loss by 2030.

    At the end of October 2024, the signatories of the framework will again come together at the UN’s Cop16 biodiversity conference in Cali, Colombia, to negotiate the implementation of their targets. To make progress towards these goals, Cop16 aims to align finance with the framework; effectively ensuring finance is part of the solution rather than the problem.

    To do this, the flow of finance will need to be redirected. A central lever in this is the pricing of risk. Financial institutions face significant risk, both from the degradation of ecosystem services (physical risks) and the social responses to degradation, including regulation and changing consumer demand (transition risks). Yet these risks are not fully priced into financial decisions.

    On top of this, corporations do not disclose their nature-related risks, dependencies and impacts, making it difficult for financial institutions to understand the implications of their investments. Together, this means that finance continues to flow unhindered into riskier activities.

    Central banks are now starting to highlight risks from nature to financial institutions and to explore the areas where these risks manifest in the financial system.

    The financial risks are real

    Earlier this year, we published the first study of the seriousness of nature-related financial risks.

    We found that, for the UK, nature-related shocks could cause a 6% decline in GDP by 2030 under scenarios such as soil health decline or water scarcity putting pressure on global supply chains. And there could be a drop in GDP of more than 12% in the scenario of an antimicrobial resistance or pandemic shock, driven by increased human-wildlife interaction due to habitat loss and deforestation.

    These results are equal to or even greater than the UK’s 6% decrease in GDP after the 2008 financial crisis and 9.7% during the 2020 COVID lockdowns.

    We also found that nature-related financial risks were of a similar scale to climate-related risks. Nature loss and climate change occur in parallel, amplify and compound each other. As such, it is essential that solutions look to solve both challenges simultaneously. After all, what is the point of having a cooler planet that is no longer livable?

    Of its 23 targets for 2030, the GBF includes two goals that specifically address finance. Target 18 aims to reduce incentives for financial flows that damage nature by at least US$500 billion per year and scale up incentives for nature-positive financial flows. And target 19 aims to mobilise US$200 billion per year for restoring and protecting nature, including at least US$30 billion from international finance flowing from developed to developing countries. A further target, target 15, calls for the disclosure of nature-related risks, dependencies and impacts by firms.

    COP16 gets under way in Cali, Colombia.

    So, what do we need from Cop16 to pull the financial risk lever?

    First, there must be international recognition that the long-term, widespread and often irreversible risks of the biodiversity crisis are not being priced by the financial system, despite progress on the integration of climate risks. This can cause a buildup of systemic risks and lead to financial instability; as such, there must be a global consensus that central banks play a key role in taking proactive measures to manage this.

    Second, at the individual, corporate and financial institution level, firms must manage and disclose their nature-related financial risks, alongside their climate risks.

    Third, similar to transition finance for net zero, financial institutions must begin to engage actively with clients to explore opportunities to support their transition towards more nature-positive activities and reflect this within their transition plans.

    Securing financial resilience and nature and climate goals are synonymous; and all are essential for securing economic growth and sustainable development globally.

    Emma O’Donnell receives funding from the UK Natural Science Research Council.

    Jimena Alvarez receives funding from UK Natural Environment Research Council.

    Nicola Ranger receives funding from the UK Natural Environment Research Council, Climate Arc and EU Horizon

    ref. How finance can be part of the solution to the world’s biodiversity crisis – https://theconversation.com/how-finance-can-be-part-of-the-solution-to-the-worlds-biodiversity-crisis-241829

    MIL OSI – Global Reports

  • MIL-OSI Global: Kim Jong-un sends North Korean troops to fight in Ukraine – here’s what this means for the war

    Source: The Conversation – UK – By Ra Mason, Lecturer in International Relations and Japanese Foreign Policy, University of East Anglia

    It is still unclear how many North Korean soldiers will find their way onto the killing fields of eastern Ukraine. What is clear is that the drive to recruit fighting forces from the Democratic People’s Republic of Korea (DPRK) is at least in part politically motivated. But is it also a tactical masterstroke that will boost the Russian war machine’s chances of a definitive victory?

    The political aspect appears straightforward. The use of foreign forces from an enemy of the United States demonstrates a clear show of opposition towards the Washington-led global order. It also deals a further blow to the myth that the Russian Federation is isolated, as an international pariah, in a world led by western powers.

    But despite boosting troop numbers, there are multiple problems with these would-be mercenaries from the far east joining Putin’s forces on the front line in Europe. North Korea is impoverished and authoritarian. This means its personnel are mostly poorly equipped, unmotivated and undernourished. Where and how they are deployed will, therefore, likely be critical.

    If sent into new theatres of war against state-of-the-art Nato-supplied weaponry, it could effectively mean waves of ill-prepared cannon fodder being thrown into the meat grinder of Donbas’ trenches. Most would surely be killed by FPV (first-person view) drones or western tank fire.

    Defections could well pose an additional risk. If commanded outside the immediate control of Korean officers in the field, some will doubtless view this as a chance to escape oppression and poverty in their homeland. Desertions en masse to the Ukrainian side might become a possibility. Even more so if identified and directed how to surrender by Ukrainian, or other, special forces on the ground.

    Considering these seemingly obvious flaws, it would be easy to assume the deliberate showcasing of training camps in eastern Russia for North Korean soldiers is little more than a political gimmick. One that is designed to strike fear into an already struggling Ukrainian army and poke its western backers in the eye. At the same time, there may be cause to think there is more to this move than pure politics.

    Rules of engagement

    The difference between supplying artillery shells for Russian guns and putting bodies on the line is stark.

    But this fundamental difference does not necessarily mean that there is no tactical value to the deployment of Korean forces on the battlefield. The key likely lies in where and how they are deployed.

    There is the immediate question of international law. Or, perhaps more importantly, how Nato countries might respond to further breaches of the established rules of engagement by Russian directed foreign forces. For sure, use of Korean mercenaries to fight in the Donbas region, which is recognised by western allies as Ukrainian territory, would constitute a gross violation.

    The response from Nato could be rapid and definitive, as it would effectively justify proportionate use of force, including foreign personnel, to counter any subsequent Russian advances. This would likely result in an own goal for Putin. Any initial advantage gained would quickly be lost as friends of Ukraine justifiably enter the fray to push back an illegal Moscow-Pyongyang alliance of aggression. Escalation thereafter would also be a serious and grave concern.

    Conversely, if deployed in a combination of technical and logistical roles, or primarily to defend Russian territory, the utility of additional manpower becomes more credible. Not least, it would seem legitimate from an international legal perspective for Russia to seek assistance from alliance partners in repelling Ukraine’s incursion into the Kursk region of southwestern Russia.

    This could deal a double blow to Kyiv. On the one hand it would likely supply sufficient personnel to rapidly finish off the already threadbare Ukrainian forces holding on to captured sovereign Russian territory. At the same time, Moscow’s own military machine would be able to focus its entire attention on the already growing advances being made along the Donbas front.

    Distraction from the end game

    North Korea’s influence on the international stage has grown since the start of the war in Ukraine as its massive stockpiles of ammunition proved significant in Russia’s attritional tactics. In that respect, the addition of foreign fighters may add a further factor in Moscow’s favour if skilfully deployed and directed.

    Ultimately, however, the limited dispatch of inexperienced Korean troops to a war zone in which they have no legal or moral basis to be sent is unlikely to prove decisive. As it stands, with or without the help of forces supplied by North Korea’s despotic leader, Kim Jong-Un, Russia’s brutal military advance looks set to grind on.

    In these regards, the arrival of North Koreans to Europe’s worst war for a generation is probably little more than another bizarre episode in this cruel conflict. The real concern is how authoritarian states such as Russia and North Korea can be transformed into something resembling civilised societies that might pursue more positive foreign policy pathways.

    Ra Mason 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.

    ref. Kim Jong-un sends North Korean troops to fight in Ukraine – here’s what this means for the war – https://theconversation.com/kim-jong-un-sends-north-korean-troops-to-fight-in-ukraine-heres-what-this-means-for-the-war-241876

    MIL OSI – Global Reports

  • MIL-OSI Global: Chris Hoy reveals that he has terminal cancer – here’s how to spot early signs of prostate cancer

    Source: The Conversation – UK – By Justin Stebbing, Professor of Biomedical Sciences, Anglia Ruskin University

    Sir Chris Hoy, an inspiration to so many of us, has just revealed he has terminal prostate cancer aged just 48 years old.

    It’s easy to assume that prostate cancer is a disease that only affects older men. But it can strike at any age, including younger and middle-aged men.

    Although the average age of diagnosis is 68, about one in ten new cases are in men under 55. In fact, doctors have noticed more cases in younger men in recent years. If you’re in your 40s or 50s, it’s worth knowing about the risks and signs of prostate cancer.

    When prostate cancer does occur in younger men, it tends to be more aggressive. If you’re diagnosed at a younger age, there’s a higher chance the cancer might be at a more advanced stage. This means it could be more dangerous than prostate cancer in older men. That’s why it’s crucial to catch it early if you can.

    There are several signs that could point to prostate cancer. People affected might notice that they’re going to the bathroom more often, especially at night. Some people can have trouble starting or stopping when they pee, or their urine flow might be weak or stop and start.

    Some men see blood in their urine or semen. Problems with erections, pain when you pee, or discomfort in your pelvic area are other possible signs.

    If you notice any of these, it’s a good idea to talk to your doctor. Remember, these symptoms can be caused by lots of other conditions too, including being part of normal ageing, but it’s always best to get them checked.

    Even if you don’t have symptoms, if you’re over 50, or over 45 with prostate cancer in your family, it’s worth having a chat with your doctor about prostate cancer screening. In this case, you might have heard of the PSA test. It’s a blood test that can help diagnose prostate problems, including cancer. But it’s not offered as a routine screening test for everyone.

    Like a lot of diagnostic tests, the PSA test isn’t perfect. It can miss some cancers, and sometimes it says there might be cancer when there isn’t. This can lead to unnecessary worry and more tests. Also, it can’t tell the difference between slow-growing cancers that might never cause problems and more aggressive ones that need treatment. That’s why doctors suggest discussing it before deciding to have the test.

    Sometimes there’s a genetic element to prostate cancers in younger people. There are genes that increase the risk of prostate cancer, and the same or similar genes increase the risk of other cancers like breast cancer.

    If there are lots of men in your family affected by prostate cancer, or male relatives with breast cancer or younger people affected, it is worth having genetic tests to understand your own risk.

    Sometimes people are even considered for a prostatectomy, which means a removal of one’s prostate, to decrease the risk of cancer occurring later on. In the future, these genetic tests will happen more and more, which is good news.

    Overdiagnosis

    One of the tricky things about prostate cancer screening is something called overdiagnosis. Many prostate cancers grow so slowly that they might never cause any problems. But once they’re found, men often want to treat them.

    This can lead to side-effects that affect quality of life, even though the cancer itself might never have been harmful. That’s why doctors are careful about how they approach screening and diagnosis.

    Some research suggests that just keeping an eye on things is better for elderly people, but this really isn’t the case for younger people.

    You might be wondering about other tests for prostate cancer. The digital rectal exam, where a doctor checks your prostate with a gloved finger, used to be a common part of screening. These days, it’s not always considered necessary, especially if other tests like magnetic resonance imaging (MRI) scans are available.

    MRI scans where you typically go in a narrow tube are being used more and more to look for prostate cancer. They can help find suspicious areas and guide biopsies if needed.

    The first inkling Hoy had that something was wrong was when he developed shoulder pain, meaning the cancer had already spread. We do see this as oncologists, but in most cases, it’s localised to the prostate gland in the pelvis.

    If you are diagnosed with prostate cancer, there are an increasing number of treatment options available. These might include keeping a close eye on slow-growing cancers without immediate treatment, surgery to remove the prostate, radiation therapy, hormone therapy, or chemotherapy for advanced cases.

    We also have targeted drugs taken as tablets now too. The best choice depends on things like your age, how advanced the cancer is, and your overall health.

    You might have heard that more men die with prostate cancer than from it. While this is true, it doesn’t mean you should ignore any concerns you have. Early detection and treatment can be crucial, especially for more aggressive cancers.

    If you’re worried about any symptoms or about your risk of prostate cancer, don’t hesitate to talk to your doctor. Being proactive about your health is important. Remember, many men diagnosed with prostate cancer go on to live long, full lives, especially when it’s caught early.

    Justin Stebbing 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.

    ref. Chris Hoy reveals that he has terminal cancer – here’s how to spot early signs of prostate cancer – https://theconversation.com/chris-hoy-reveals-that-he-has-terminal-cancer-heres-how-to-spot-early-signs-of-prostate-cancer-241851

    MIL OSI – Global Reports

  • MIL-OSI Economics: Sam Woods: Competing for growth

    Source: Bank for International Settlements

    Regulation, competitiveness and growth

    A lot has been said about the UK financial regulators’ new secondary competitiveness and growth objective, so I hesitate to add to the chat. Our focus is on actions because they are said to speak louder than words. However, it is regularly reported to me that some stakeholders doubt that we are taking any meaningful action to deliver our new objective – and from this I have learned that sometimes in life it is necessary to tell people what actions you are taking, as well as taking them!

    I will also attempt a little myth-busting, because I have observed that the debate on regulation can be dominated by extremes. On the one hand, it is surprisingly often asserted that the regulators are trying to remove all risk from the system and don’t care about their impact on the wider economy. It is easy to demonstrate that this is nonsense. On the other hand, it’s simply not true that any change to our regulations will unleash financial mayhem, and there is plenty in our regime that can be improved without undermining stability.

    So if you take only two things from this speech, I hope they are these:

    • first, that we are strongly committed to our new objective, and are taking concrete steps to improve our regime’s contribution to UK growth and competitiveness;
    • and second, that we are going about this in a careful, balanced way – reducing bureaucratic processes and some excess conservatism while preserving financial stability.

    MIL OSI Economics

  • MIL-OSI Economics: Ahmet Ismaili: Opening speech – 22nd Meeting of the Central, Eastern and South-Eastern European – European Insurance Supervision Initiative 

    Source: Bank for International Settlements

    Dear Mr. Peter Braumüller, Managing Director of Insurance and Pension Supervision at the Austrian Financial Market Authority,

    Dear Deputy Governor Cakaj,

    Distinguished representatives of Insurance Regulatory Authorities,

    Ladies and gentlemen,

    It is with great pleasure that I welcome you to Prishtina at the 22nd Meeting of the CESEE – European Insurance Supervision Initiative – ISI (Central, Eastern and South-Eastern European).

    Before I continue with my opening remarks, I would like to extend a special thank you to Mr. Peter Braumüller and to all the team involved to the organisation of this event.

    Mr. Braumüller, your leadership continue to be crucial in keeping this initiative a success. Your commitment to fostering collaboration and knowledge-sharing among our diverse community is truly admirable, and we are grateful for your efforts!

    This event marks a significant milestone, not only for Kosovo, but also for the Central Eastern and South-Eastern European region, as we unite under the common goal of enhancing insurance supervision and cross-border cooperation. Since its inception in 2011, the meeting has proven to be an invaluable platform for insurance regulators where they are able to exchange insights, share experiences, and discuss pressing issues on insurance supervision.

    Today, as we meet in Kosovo for the first time, we continue to honour this wonderful tradition of cooperation, knowledge-sharing, but also collegiality. It is a privilege to host such a diverse group of dedicated professionals committed to enhancing supervision and strengthening our regulatory frameworks and ensuring the integrity of our insurance markets.

    This year is particularly special for us; as the Central Bank of the Republic of Kosovo proudly celebrates its 25th anniversary. Hosting the forum aligns perfectly with our anniversary events and we believe that this occasion resonates with the spirit of our meeting – a celebration of growth, resilience, and commitment to mutual as well as shared values.

    I would like to briefly highlight the significant progress we have made in our insurance sector, particularly through specific reforms which we have successfully implemented with the aim of restoring the financial position of our insurance sector. CBK as regulator and supervisor has successfully addressed serval challenges while implementing prudent measures to resolve those issues and make sure that the sector perform according to the rules and protect the policyholders or beneficiaries and victims.

    Taking into consideration all the important measures we have undertaken, including the strengthening of our regulatory framework, these efforts have paved the way for further growth and sustainability, and an increase of the consumer confidence.

    We are committed to advancing the regulatory and supervisory framework of the Insurance Industry in line with EU standards and best practices.

    We have received the Roadmap for Solvency II from the World Bank, which is an ambitious, challenging, and demanding project. This means we are gradually transitioning from purely compliance-based supervision to prudential risk-based supervision. This transition also involves the introduction of a risk-based supervision manual, with support from the IMF.

    We have received also the roadmap for the IFRS 17. The implementation of the Solvency II and the IFRS 17 in our regional countries can certainly be a significant challenge, for which we will have the support of the World Bank.

    We are working on enhancing the supervision of market conduct among our financial institutions by ensuring the CBK has adequate powers and resources to implement effective oversight. Recently, we established the Consumer Protection Department to improve support for financial consumers. Within this department, we have created a dedicated division focused on market conduct.

    In our sector and in the most jurisdictions in the region, Motor Third Party Liability (MTPL) continues to play a dominant role in the insurance market. While MTPL is essential to provide basic cover and protect consumers from liabilities arising from the use of vehicles, as regulators we recognise the importance of diversifying the insurance portfolio to enhance overall financial stability. We are therefore committed to increasing the share of voluntary non-life and life insurance products.

    Currently, Kosovo is the only European country not a member of the Green Card system, despite our ongoing efforts to gain membership. Therefore, our insurers cannot issue Green Cards and vehicles from most European countries entering Kosovo must purchase border MTPL at the frontier for their stay. Although Kosovo officially applied to join the Green Card system, this application was unsuccessful. While progress has been made in meeting many criteria for membership, Council of Bureaux membership remains the step to be achieved. Addressing this issue is important for improving cross-border insurance coverage, support free move of people and capital and aligning Kosovo with regional insurance standards. Here, dear participants and guest, the support of your institutions and followed countries is needed.

    Our team will provide you with more detailed insights on these developments later today, and I strongly encourage you to engage with them on this important topic.

    As a Central Bank we recognize the importance of strong collaboration with other financial regulators and supervisors. Working together allows us to ensure the stability and security of our financial systems. By coordinating efforts, sharing information, and aligning policies we can better manage risks and support sustainable growth in our economies.   

    And lastly, as we embark on this journey together, let us embrace the opportunities ahead of us. There is an intensive agenda ahead of us, filled with discussions on current challenges in insurance supervision and a vision for our joint future. I encourage each of you to actively engage, share your insights, and build connections that will extend beyond this meeting.

    By working together, we can strengthen our commitment to advance the insurance regulatory and supervisory framework towards a more integrated and resilient financial sector in our region.

    Once again, thank you for being here, and let us make this meeting a success!

    MIL OSI Economics

  • MIL-OSI: Bybit Card Opens up Pre-registration in New Regions Offering Sign-up Bonus

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 22, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, expands the global footprint of Bybit Card in collaboration with S1LKPAY, an international payment solution provider. Pre-registration is now open with a $10 bonus in addition to the multiple benefits of the Bybit Card for the first 1,000 applicants. 

    The go-to option for crypto spending for crypto-native users across the world, the Bybit Card has been on an expansion streak. Now spanning across markets including Argentina, Brazil, and the Netherlands, it is trusted for its robust security, excellent customer support, user-friendly and rewarding experience, and ease of access to the Mastercard network. 

    The latest development is led by Bybit Limited, the entity regulated by the Astana Financial Services Authority (AFSA), and marks the first branded card issuance by Bybit Limited (AFSA) in collaboration with S1LKPAY, a certified principal member of Mastercard’s payment network and a provider of Banking-as-a-Service (BaaS) and Card-as-a-Service (CaaS), to support the issuance and integration of in-app payment functions for the Bybit Mastercard prepaid card.

    “The past year has seen tremendous growth of the Bybit Card and we are pleased to be able to serve more regions and users from the EEA to South America, bridging their crypto wealth and their payment needs. Spending and growing your crypto has never been so easy with Bybit, and now it comes with a bonus until the official launch,” said Joan Han, Sales and Marketing Director at Bybit. 

    “We are thrilled to announce the launch of the first crypto prepaid card in the region and to partner with Bybit in offering this long-waited solution in its next chapter of card expansion. The partnership provides crypto holders with frictionless access to the Mastercard network anytime, anywhere,” said Gani Uzbekov, Founder and CEO of S1LKPAY.

    Offering a smooth experience for users with digital wealth in their portfolios, the Bybit Card is instrumental in making crypto spending and daily consumption more seamless. It also boasts clear and low fees, generous rewards with up to 10% cashback and 8% APY, and a wide array of tokens supported. The mainstreaming of crypto includes not only crypto as an investment asset class, but also retail use and merchant acceptance. Bybit is committed to refining its products to encourage the adoption of digital assets among everyday users.

    Bybit invites users to get a Bybit Card and enjoy its full benefits: Pre-register for the Bybit Card 

    #Bybit / #TheCryptoArk 

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, users can visit: Bybit Press 

    For media inquiries, users can contact: media@bybit.com

    For more information, users can visit: https://www.bybit.com

    For updates, users can follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    About Mastercard

    Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

    Mastercard press office in Kazakhstan

    mastercard@pressclub.kz

    Contact

    Head of PR
    Tony Au
    Bybit
    tony.au@bybit.com

    The MIL Network

  • MIL-OSI Europe: At COP16, EIB to announce new partnerships to strengthen environmental protection

    Source: European Investment Bank

    • EIB and WWF set for financing initiative.
    • Bank deepens cooperation with European Environment Agency.
    • Findings to be released from EIB-backed survey of public development banks’ support for green transition in Latin America and Caribbean.

    The European Investment Bank (EIB) will announce a series of steps to bolster global environmental protection during the United Nations Biodiversity Conference in Cali, Colombia from 21 October to 1 November 2024.  

    At the event, which marks the 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP16), the EIB will publish an agreement with WWF on developing natural ways to protect biodiversity and enhance climate resilience. In addition, the EIB and the European Environment Agency are strengthening cooperation to support environmental sustainability and climate action. Furthermore, in partnership with the Association of Public Development Banks of Latin America and the Caribbean (ALIDE), the EIB will release the findings of a survey on the role of public development banks in supporting the two regions’ green transition.

    “The role of finance will be front and centre of the COP16 discussions on how to meet the world’s goals in supporting biodiversity,” said EIB Vice-President Ambroise Fayolle. “We must act with urgency to reduce financial flows to activities that harm nature and scale up financing to projects that have a positive impact on the environment. Doing so is central to overcoming the triple planetary crisis of climate change, pollution and biodiversity loss. The EIB is working closely with countries, the European Commission, fellow multilateral development banks, national promotional banks and the private sector to scale up nature-positive finance.”

    EIB at COP16

    The EIB delegation will be led by Vice-President Ambroise Fayolle. For interview requests with members of the EIB delegation, please get in touch with the press contact below. Find out more about the EIB at the United Nations Biodiversity Conference here.

    On 28 October, Vice-President Fayolle will address the COP16 plenary to speak about unlocking opportunities to align and enhance responses to nature-related risks. On 30 October representatives from multilateral development banks will discuss progress on the joint MDB statement on supporting nature, people and the planet. A special focus will be MDBs’ role in defining and tracking nature finance as outlined in the MDB Common Principles for Tracking Nature Positive Finance that were announced at the United Nations Climate Conference COP28 in Dubai.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It is active in more than 160 countries and makes long-term finance available for sound investment in order to contribute towards EU policy goals.

    EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world

    The EIB has been providing economic support for projects in Latin America since 1993, facilitating long-term investment with favourable conditions and providing the technical support needed to ensure that these projects deliver positive social, economic and environmental results. Since the EIB began operating in Latin America, it has provided total financing of around €14 billion to support more than 160 projects in 15 countries in the region.

    MIL OSI Europe News

  • MIL-OSI Europe: A facility for fairness

    Source: European Investment Bank

    In the Western Balkans, women face unfair treatment in the job market. Over half the productive potential of women aged between 15 and 64 remains untapped, according to a report by the Regional Cooperation Council.

    This is mostly due to social norms, lack of childcare facilities, and the traditional distribution of household roles. Women’s employment rates in the region are consistently below those of the European Union, with high informal employment. In Bosnia and Herzegovina, men are on average paid 37.8% more than women, and 15.8% more in North Macedonia.

    Difficulties women face on the labour market vary depending on the industry, but the construction sector  is particularly challenging due to long working hours and physically demanding conditions. With over 150 employees, the Belgrade company RAS Inžinjering is looking to address these issues with its inclusivity practices.

    “In our company,” says Executive Director Vuk Vujović, “we have been traditionally employing women in administration, bookkeeping, and financial departments, as well as for warehouse and human resources operations. They primarily held office-based positions.”

    “However, since some five to six years ago, we began hiring female construction engineers. And now, when bringing on new engineers, we strive to maintain a balanced ratio of men and women.”

    The construction sector is also unique for its highly flexible payment-due dates, often extending up to four months. Additionally, the prices of construction materials can fluctuate significantly in the market, impacting the cost of projects that may take two to three years to complete. Without access to bank credit lines or sufficient internal resources, a company may struggle to complete a project.

    “Since we are already fostering inclusivity practices, our motivation for applying for this loan was to further develop these efforts, while reducing costs, effectively aligning value with purpose.”

    For each new employee, the company assigns an experienced mentor to guide them through processes and oversee their career development. It also promotes open-door communication between staff and management at all levels, ensuring efficient problem-solving.

    “Owing to our reputation, extensive portfolio of projects and employee relations practices, people are eager to work for our company and apply to our job postings,” Vujović says.

    MIL OSI Europe News

  • MIL-OSI Europe: EIB and Banca March sign guarantee agreement to provide up to €300 million in financing to Spanish companies with 250 to 3 000 employees

    Source: European Investment Bank

    • The agreement seeks to promote private sector investment and support the financing needs of a key segment of the Spanish economy in terms of growth, competitiveness and job creation.

    The European Investment Bank (EIB) and Banca March have signed a new agreement under which Banca March will provide up to €300 million of additional financing to Spanish companies with 250 to 3 000 employees. The EIB will offer an institutional guarantee covering 50% of the total amount.

    The goal of this agreement is to promote and accelerate private sector investment and offer working capital and liquidity solutions to Spanish mid-caps – many of which are family businesses, the strategic focus area of Banca March – making it easier for them to access finance with attractive terms in a high-interest rate environment.

    At least 35% of investments are expected to be made in regions with a per capita income below the EU average, helping to improve competitiveness and cohesion between regions, which is among the EIB Group’s strategic priorities.

    “The EIB is once again joining forces with Banca March to take another step forward in developing attractive lending solutions tailored to the needs of Spanish mid-caps,” said EIB Director of Financial Institutions Gemma Feliciani. “This agreement is yet another example of cooperation between the public and private sectors to boost the competitiveness of a key business segment for economic growth and job creation in Spain.”

    The agreement is part of the EIB’s efforts to finance small and medium companies (SMEs) and mid-caps and Banca March’s commitment to provide its financing capacity, all of which is in line with EU priorities and the goal of both institutions to help improve industrial competitiveness in the European Union.

    Banca March CEO José Luis Acea added: “As a bank specialising in advising businesses, business-owning families and family businesses, this agreement reflects our ongoing commitment to make it easier for Spanish companies to access finance from top-tier European institutions, enabling them to play their role as key motors of economic and social development in their domains.”

    Background information

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    The European Investment Bank Group (EIB Group), consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. Overall, the EIB Group signed €88 billion in new financing in 2023.

    Banca March

    Banca March is one of Spain’s leading specialised private and corporate banking institutions. It is also the only bank to be fully family-owned since it was founded in 1926. In line with its prudent and long-term management philosophy, Banca March’s business model is supported by strong financial and capital ratios. It maintains the highest CET 1 solvency ratio in the Spanish banking sector (20.93%), one of the lowest default rates in the sector in Spain (1.81% as of June 2024, compared to 3.43% on average in the sector) and liquidity ratios – liquidity coverage ratio (287.8%) and direct taxation liability (182.4%) – and coverage of non-performing risks (51.89%) among the highest in the sector. The strength of Banca March’s value proposition has been supported by the Moody’s rating agency, which has raised Banca March’s long-term rating to A2 with a positive outlook, meaning it remains one of the best-rated entities in the Spanish financial system, ahead of the government itself (which currently has a Baa1 rating). Banca March is one of the main shareholders of Corporación Financiera Alba, with major stakes in Naturgy (indirect), Acerinox, Profand, Ebro Foods, BME, Viscofan, Atlantic and Parques Reunidos, among others.

    MIL OSI Europe News

  • MIL-OSI Europe: MOTION FOR A RESOLUTION on the People’s Republic of China’s misinterpretation of the UN resolution 2758 and its continuous military provocations around Taiwan – B10-0140/2024

    Source: European Parliament

    Miriam Lexmann, Sebastião Bugalho, Rasa Juknevičienė, Danuše Nerudová
    on behalf of the PPE Group

    B10‑0140/2024

    European Parliament resolution on the People’s Republic of China’s misinterpretation of the UN resolution 2758 and its continuous military provocations around Taiwan

    (2024/2891(RSP))

    The European Parliament,

     having regard to its previous resolutions on the People’s Republic of China (PRC) and Taiwan,

     having regard to the Strategic Compass for Security and Defence, approved by the Council on 21 March 2022,

     having regard to the joint communication from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 16 September 2021 entitled ‘The EU strategy for cooperation in the Indo-Pacific’ (JOIN(2021)0024),

     having regard to the EU’s ‘One China’ policy,

     having regard to the statement of 23 September 2024 by the Chair of the G7 Foreign Ministers’ Meeting,

     having regard to the joint declaration by the G7 Defence Ministers of 19 October 2024,

     having regard to the urgency motion on Taiwan passed by the Australian Senate on 21 August 2024,

     having regard to the motion on UN Resolution 2758 passed by the Dutch House of Representatives on 12 September 2024,

     having regard to UN General Assembly Resolution 2758 (XXVI) of 25 October  1971,

     having regard to Rule 136(2) of its Rules of Procedure,

    A. whereas UN Resolution 2758 was passed by the UN General Assembly on 25 October 1971 and shifted official recognition from the Republic of China (Taiwan) to the People’s Republic of China (PRC);

    B. whereas since then, most countries have shifted recognition from Taiwan to the PRC; whereas today, Taiwan, while not being a member of the UN, maintains diplomatic relations with 11 of the 193 UN member states, and with the Holy See;

    C. whereas following the adoption of UN Resolution 2758, Taiwan lost its right to participate in multilateral forums, such as the World Health Organization;

    D. whereas through their statement of 23 September 2024, the G7 members, among other things, underlined their support for ‘Taiwan’s meaningful participation in international organizations as a member where statehood is not a prerequisite and as an observer or guest where it is’;

    E. whereas in recent years, the PRC has deliberately distorted UN Resolution 2758, persistently claiming that the PRC’s ‘One China’ principle allegedly has international endorsement through this resolution, which would entail that Taiwan is part of the PRC;

    F. whereas the EU continues to maintain its own ‘One China’ policy position, which is different from the PRC’s ‘One China’ principle; whereas the EU’s long-standing position has been to support the status quo and a peaceful resolution of differences across the Taiwan Strait, while encouraging dialogue and constructive engagement;

    G. whereas Taiwan has never been part of the PRC; whereas the Republic of China was established in 1912 and the PRC was established in 1949;

    H. whereas over the past decade, the PRC has persistently tried to increase its influence over international institutions, using this to sideline Taiwan and prevent Taiwanese passport holders, including journalists, non-governmental organisation workers and political activists, from accessing international institutions; whereas the PRC exercises transnational repression by misusing extradition treaties to target Taiwanese people abroad and therefore put them at risk of arbitrary persecution and human rights abuses;

    I. whereas the EU and Taiwan are like-minded partners that share common values, such as freedom, democracy, human rights and the rule of law;

    J. whereas Taiwan is a vibrant democracy, with a flourishing civil society; whereas Taiwan held peaceful and well-organised elections on 13 January 2024;

    K. whereas the PRC is a one-party state that is entirely controlled and ruled by the Chinese Communist Party; whereas the Chinese People’s Liberation Army is the military of the Chinese Communist Party and not an army of the PRC’s Government;

    L. whereas on 14 October 2024, the PRC launched a large-scale military drill, named Joint Sword-2024B, that simulated a blockade of Taiwan; whereas during this exercise, a record number of 153 PRC aircraft,18 warships and 17 PRC coastguard ships were detected around Taiwan;

    M. whereas on 23 May 2024, the PRC launched a military drill called Joint Sword-2024A, coming just days after the inauguration of Lai Ching-te as the new President of Taiwan;

    N. whereas over the past years, the PRC has held similar military drills around Taiwan; whereas these military drills have increased in intensity and have been moved closer and closer to Taiwan’s mainland; whereas during a previous drill in August 2022, the PRC also fired missiles into the exclusive economic zone of Japan;

    O. whereas on top of military pressure, the PRC has long been pursuing a sophisticated strategy of targeting Taiwan with foreign information manipulation and interference, including hybrid and cyber attacks with the goal of undermining Taiwan’s democratic society;

    P. whereas the PRC, under the leadership of Xi Jinping, has said that it will not renounce the use of force to seek unification with Taiwan; whereas the PRC is engaging in a historically unprecedented military build-up that is continuously shifting the power balance in the Indo-Pacific; whereas this is negatively affecting cross-Strait stability;

    Q. whereas the PRC is supporting Russia’s war of aggression against Ukraine, in particular through the exportation of dual-use goods to Russia, and the ongoing involvement of PRC-based companies in sanctions evasion and circumvention;

    R. whereas in a speech on 10 October 2024, Taiwan’s national day, Taiwan’s President Lai Ching-te stated that the PRC has ‘no right to represent Taiwan’ and reiterated that the two sides are ‘not subordinate’ to each other; whereas the PRC has justified its recent military exercise by claiming that President Lai Ching-te is pursuing a separatist strategy;

    S. whereas the PRC’s increasingly aggressive behaviour, in particular in its own neighbourhood, such as the Taiwan Strait and the South China Sea, poses a risk to regional and global security; whereas the PRC has for many years promoted an alternative narrative, challenging democratic values, open markets and the rules-based international order; whereas the PRC’s growing influence in international organisations has impeded positive progress and further excluded Taiwan from rightful and meaningful participation in international institutions;

    T. whereas through its 2021 strategy for cooperation in the Indo-Pacific, the EU and its Member States increased their presence in the region, including a higher military presence and the continued passage of military ships through the Taiwan Strait;

    U. whereas the EU is Taiwan’s fourth largest trading partner after the PRC, the United States and Japan; whereas in 2022, Taiwan was the EU’s 12th biggest trading partner; whereas the EU is the largest source of foreign direct investment in Taiwan; whereas Taiwanese investments in the EU remain below their potential;

    V. whereas members of the Australian Senate and of the Dutch House of Representatives have recently adopted motions concerning the distortion of UN Resolution 2758 by the PRC, and called for support for Taiwan’s greater participation in multilateral organisations;

    1. Reiterates that Taiwan is a key EU partner and a like-minded democratic ally in the Indo-Pacific region; commends Taiwan and the Taiwanese people for their strong democracy and vibrant civil society, demonstrated once more by the peaceful and well-organised elections of 13 January 2024;

    2. Strongly condemns the PRC’s military exercises of 14 October 2024, its continued military provocations against Taiwan and its continued military build-up that is changing the balance of power in the Indo-Pacific, and reiterates its firm rejection of any unilateral change to the status quo in the Taiwan Strait; reiterates its call for the EU and its Member States to ensure, through clear and consistent signalling, that any attempt to unilaterally change the status quo in the Taiwan Strait, particularly by means of force or coercion, will not be accepted;

    3. Opposes the PRC’s constant distortion of UN Resolution 2758 and its efforts to block Taiwan’s participation in multilateral organisations; calls for the EU and its Member States to support Taiwan’s meaningful participation in relevant international organisations, such as the World Health Organization, the International Civil Aviation Organization, the International Criminal Police Organization (Interpol) and the UN Framework Convention on Climate Change;

    4. Underlines that UN Resolution 2758 takes no position on Taiwan; strongly rejects and refutes the PRC’s attempts to distort history and international rules;

    5. Strongly underlines that the EU’s ‘One China’ policy corresponds to UN Resolution 2758, while the PRC’s ‘One China’ principle is not endorsed by it;

    6. Reiterates its strong condemnation of statements by Chinese President Xi Jinping that the PRC will never renounce the right to use force with respect to Taiwan; underlines that the PRC’s use of force or threats or other highly coercive measures to achieve unification contradicts international law; recalls that neither Taiwan nor the PRC is subordinate to the other; expresses grave concern over the PRC’s use of hostile disinformation to undermine trust in Taiwan’s democracy and governance; reiterates its previous calls for the EU and its Member States to cooperate with international partners in helping to sustain democracy in Taiwan, keeping it free from foreign interference and threats; underlines that only Taiwan’s democratically elected government can represent the Taiwanese people on the international stage;

    7. Condemns the PRC’s systematic grey-zone military actions, including cyber and disinformation campaigns against Taiwan, and urges the PRC to halt these activities immediately; calls, in this regard, for cooperation between the EU and Taiwan to be deepened further in order to enhance structural cooperation on countering disinformation and foreign interference;

    8. Reiterates its call on the Member States to increase the frequency of freedom of navigation operations in the Taiwan Strait and to deepen security dialogues with Taiwan to deter Chinese aggression against the democratic island;

    9. Reiterates its call on the Member States to engage in meaningful and structural technical cooperation with Taiwan’s National Fire Agency and National Police Agency and with local administrations in the field of civil protection and disaster management;

    10. Reiterates its call on the Member States to engage in meaningful and structural technical cooperation with Taiwan in the field of whole-of-society defence;

    11. Recognises the importance of Taiwan in securing global supply chains, especially in the high-tech sector where Taiwan is the leading producer of semiconductors, and calls for the EU and its Member States to engage in closer cooperation with Taiwan;

    12. Calls on the Commission to launch, without delay, preparatory measures for negotiations on a bilateral investment agreement with Taiwan;

    13. Condemns all forms of pressure and threats of reprisals, including economic coercion, regarding the independent right of the EU and its Member States to develop relations with Taiwan, in line with their interests and shared values of democracy and human rights, without foreign interference;

    14. Welcomes visits by former and current Taiwanese politicians to Europe, including the recent visit of former President Tsai Ing-wen to the European Parliament on 17 October 2024; welcomes, furthermore, continued exchanges between its Members and Taiwan and encourages further visits by official European Parliament delegations to Taiwan; also encourages further exchanges between the EU and Taiwan at all levels, including political meetings and people-to-people encounters; encourages, in this light, increased economic, scientific and cultural interactions and exchanges, focusing, among other areas, on youth, academia, civil society, sports, culture and education, as well as city-to-city and region-to-region partnerships;

    15. Instructs its President to forward this resolution to the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy and the governments of the People’s Republic of China and Taiwan.

     

     

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Dame Diana Johnson speech on tackling anti-social behaviour

    Source: United Kingdom – Executive Government & Departments

    The Crime and Policing Minister spoke at the Tackling Anti-Social Behaviour Conference on 22 October 2024.

    Good morning, it is a real privilege to be speaking at this event and to be amongst a group so incredibly passionate about addressing anti-social behaviour at a national and local level.  

    I can see we have a variety of professionals on the call and wanted to take this opportunity, firstly, to express my sincere gratitude for your continued efforts to tackle and prevent anti-social behaviour. Each and every one of you is equally important to this government’s mission to crack down on anti-social behaviour and to take back our streets.  

    Having spent a lot of time asking the department challenging questions on how the government is tackling ASB as Chair of the Home Affairs Select Committee, it is an honour to have the opportunity of working with you now to deliver real change across the country and ensure that communities feel safe, secure and are able to thrive.  

    Anti-social behaviour is not merely a low-level nuisance. It hits the poorest and most vulnerable communities hardest and, if left unchecked, leads to more serious offending – and I know this very well as a constituency MP in Hull. 

    Everyone involved in this conference has a wealth of knowledge, insight and expertise that will help us deliver this mission. 

    I’d now like to set out how I envisage this approach, the strategies we will be implementing and the importance of restoring public trust in both policing and local partners to create real, impactful change.  

    Cracking down on anti-social behaviour is a top priority for this government, and a key part of our Safer Streets Mission.    

    Too many town centres and high streets across the country have been gripped by an epidemic of anti-social behaviour, theft and shoplifting, which is corroding our communities and cannot be allowed to continue. 

    Currently, the powers in the Anti-social Behaviour, Crime and Policing Act 2014 do not go far enough to tackle anti-social behaviour. We will crack down on those causing havoc on our high streets by legislating to ensure that anti-social behaviour powers are as effective as possible to tackle repeat offending, in addition to tackling the plague of shoplifting that blights so many areas.  

    This is why we will be introducing Respect Orders to tackle the worst ASB offenders and stamp out issues such as public drinking and drug use to ensure that our communities are free from harm and nuisance.  

    The Respect Order will help ensure that persistent adult offenders of ASB are banned from public areas where they are causing harm to our communities. 

    It is, of course, for local areas to decide how best to deploy these powers depending on the specific circumstances. They are best placed to understand what is driving the behaviour in question, the impact that it is having, and to determine the most appropriate response.  

    Shoplifting is at a record high and continues to increase at an unacceptable level – and I saw this for myself when visiting my local Co-op in Hull, while I was in store shoplifting took place, with a holdall being filled with meat and the thief then walking out. 

    More and more offenders are using violence and abuse against shopworkers to do this. It’s damaging business and hurting our communities. It’s vital people feel safe out in their local shops and on their high streets.  

    And I welcome operational commitments that police made in the Retail Crime Action Plan last October, and there are positive outcomes already. But there is much more to do.    

    So we are going to bring back neighbourhood policing, ensuring thousands of additional officers are out patrolling towns and communities as part of our mission to make streets safer.  

    We will also end the effective immunity, introduced by the previous government, granted to low level shoplifting of goods under £200 to remove the perception that those committing low value shop theft will escape punishment. We will introduce a new offence of assaulting a retail worker to protect the hardworking and dedicated staff that work in stores. This is long overdue.   

    Now turning to anti-social behaviour involving vehicles such as off-road bikes, motorbikes and e-scooters – they cause untold nuisance and misery for communities. We want to make it easier for the police to take illegal, dangerous and vehicle-related ASB off the streets for good, and quickly destroy vehicles that they seize from offenders.   

    I want to just turn to recent trends in anti-social behaviour. 

    In the year ending March 2024, the Crime Survey of England and Wales showed that around 35% of respondents personally witnessed or experienced anti-social behaviour in their local area.  

    Groups hanging around on the streets, vehicle-related ASB and people using or dealing drugs were the most common types of anti-social behaviour reported.  

    Now this is a statistic that we must aim to significantly reduce through consistent join up of police and local partners.  

    ​We also know that ASB is under reported to the police and other agencies. Either because people don’t know how to report it or because they feel it will not be taken seriously or addressed.  

    A survey conducted in 2023 by YouGov on behalf of Resolve found that over 58% of victims or witnesses don’t report anti-social behaviour.   

    The most common reasons for not reporting an incident was a feeling it was too trivial, not worth reporting and not thinking that it would be taken seriously, and I know, because my constituents have told me, that they often don’t report incidents because they feel that nobody cares and nothing is done. 

    We need to change that. No victim of anti-social behaviour should feel that their issues will not be taken seriously or isn’t worth reporting.  

    And I look forward to the annual ASB Awareness Week run by Resolve that is taking place from 18-24 November. The theme is ‘Making Communities Safer’. This will be a brilliant opportunity to raise awareness of what anti-social behaviour is and to promote the ASB Case Review, a mechanism which gives victims of repeated ASB the ability to request a formal case review where a locally defined threshold is met.  

    It is vitally important that we place focus on helping the victims of ASB. 

    ASB often affects the most vulnerable in our society, and we will work to ensure that the police, local authorities and local agencies, in addition to the tools and powers available to them to tackle ASB, are also aware of the support available to victims of ASB.   

    I now want to turn to national strategies to invest in communities and prevent ASB from occurring in the long-term. 

    The Home Secretary and I have been clear that we see neighbourhood policing as the bedrock of restoring public confidence in policing. The Neighbourhood Policing Guarantee will be a crucial part of that. 

    Neighbourhood police officers are at the forefront of the fight against anti-social behaviour and for many years neighbourhood policing stood as the bedrock of that traditional British model of policing by consent.  

    However, the last decade has seen the decline of neighbourhood policing to such an extent that many of the bonds of trust and respect between the police and local communities have been lost.  

    And that’s why we will implement a new Neighbourhood Policing Guarantee, restoring patrols to town centres, recruiting thousands of additional police personnel, and ensuring every community has a named local police officer to turn to.  

    As part of this we have agreed funding to support the College of Policing to roll out a specialist new training programme for neighbourhood officers across the country.   

    The training will help equip neighbourhood officers with the knowledge they need to tackle anti-social behaviour, problem solve and engage effectively with the communities they serve. It is essential that our neighbourhood officers have the skills, knowledge and confidence to build local relationships and to tackle the issues that damage communities the most.  

    Every community deserves local officers who understand what is needed to keep them safe. With this new training, and our Neighbourhood Policing Guarantee, we will deliver the change our towns and villages are desperate for.  

    I understand that no single agency holds all the levers to tackle anti-social behaviour. Effective multi-agency working is crucial to reducing ASB and ensuring safer communities. 

    That is why the strategies we are implementing are going to focus on preventing ASB in the long term and we are committed to intervening earlier to stop young people being drawn into crime.  

    An essential part of achieving this will be the Young Futures programme.  

    This will consist of the creation of prevention partnerships across England and Wales to map existing youth provision and at-risk individuals. These partnerships will work to ensure children and young people receive the support they need to stop them being pulled into a life of crime.  

    These will be accompanied by a network of Young Future Hubs, which will bring together local services to deliver additional interventions for young people, including mental health support. 

    And, during the election campaign, we committed to cracking down in particular on vehicle-related ASB to deal with the associated noise, nuisance and dangers which communities experience.  Our proposals will make it easier for the police to seize and dispose of vehicles, including e-scooters and e-bikes, that are used anti-socially. 

    And in addition, we are working on progressing research and development on a novel technology solution to safely stop e-scooters and e-bikes and enhance the ability of the police to prevent them from being used to commit criminal acts. 

    Now I will finish by saying how grateful I am to everyone at this conference for the work that you do. It really matters.   

    And I look forward to working together as we tackle anti-social behaviour and make communities up and down the country safer.  

    Thank you very much for your time, and I very much hope you enjoy the conference.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Government commits to addressing housebuilding recommendations

    Source: United Kingdom – Executive Government & Departments

    The UK Government has today published its response to the Competition and Market’s Authority’s (CMA) housebuilding study.

    The government has today published its response to the Competition and Market’s Authority’s (CMA) housebuilding study.

    This includes bringing forward a new consumer code for housebuilders and a New Homes Ombudsman service which will empower homeowners to rightly challenge developers for any quality issues they face in their home. 

    In response to the CMA’s recommendations, Housing and Planning Minister, Matthew Pennycook said:  

    “The Government has committed to delivering 1.5 million homes in this Parliament, including the biggest increase in social and affordable housing in a generation.

    “The CMA was right to highlight areas for improvement in the housebuilding market. That is why we will empower homeowners to challenge developers over poor quality new homes and bad service, and we will consider the best way to address the injustice of ‘fleecehold’ private estates to bring unfair costs to an end.

    “Alongside this, our updated National Planning Policy Framework and the reinstatement of mandatory housing targets for councils will ensure communities have the homes and necessary infrastructure to thrive.”

    Sarah Cardell, CEO of the CMA said:

    “We welcome the government’s response to our recommendations on housebuilding, which we put forward to get people better protections and open the door to delivering more good quality homes.

    “Housing is an essential area for consumers and driving economic growth, so we will assist government as they take forward our solutions, alongside progressing our wider housing work.”

    Background information:

    • Earlier this year the CMA made 11 recommendations highlighting ongoing issues in the housebuilding market which the government is working at pace to address. 

    • We have accepted the recommendations to bring forward a new consumer code for housebuilders and a New Homes Ombudsman service which will empower homeowners to rightly challenge developers for any quality issues they face in their home.  

    • Other recommendations accepted in principle include greater protections for households living under private management arrangements. This would see homeowners receiving more information about what they are paying for as well as allowing them to challenge unfair costs at a tribunal.
    • We will implement measures to improve transparency as part of the Leasehold and Freehold Act 2024 and will also consult on further options to make sure estate managers can be properly challenged for the money they spend.
    • This government is also committing to provide robust guidance for residents’ management companies, so they have the support to effectively manage amenities on their housing estates, such as drainages and open spaces. This can include appointing a managing agent to oversee services.
    • Several of the other recommendations will require further work and consultation to ensure the best policy solutions can be identified and enacted. This includes consulting on the best way to address the injustice of ‘fleecehold’ private estates.
    • The CMA also proposed 11 additional options that include wider planning reforms. Many of these options are already being considered as part of the revised National Planning Policy Framework which will see mandatory housing targets for councils and low quality ‘grey belt’ released.

    • This is on top of our Planning and Infrastructure Bill to modernise the planning system which will turbocharge housebuilding and accelerate the delivery of major infrastructure projects.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom