Category: Business

  • MIL-OSI: CECO Environmental to Release Third Quarter Earnings and Host Conference Call on October 29

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 15, 2024 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announced that it will report its third quarter 2024 financial results on October 29, 2024, premarket. The Company will also host its earnings call starting at 8:30 a.m. Eastern Time (7:30 a.m. CT). The Company’s financial results and presentation will be posted on its website at http://www.cecoenviro.com.

    The details for the webcast are:

    When: Tuesday, October 29 at 8:30 a.m. Eastern Time

    Where: https://edge.media-server.com/mmc/p/4ui844vi

    How: Live over the internet – Simply log on to the web at the address above

    Register to receive the dial-in info and a unique pin:
    https://register.vevent.com/register/BI76b0c5bac3f448b6b1a734e15bff87ec

    A replay of the conference call will be available on the Company’s website shortly after the live webcast has concluded.

    ABOUT CECO ENVIRONMENTAL
    CECO Environmental is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water, and energy transition markets across the globe through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom solutions for applications including power generation, petrochemical processing, general industrial, refining, midstream oil and gas, electric vehicle production, poly silicon fabrication, battery recycling, beverage can, and water/wastewater treatment along with a wide range of other applications. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Dallas, Texas. For more information, please visit http://www.cecoenviro.com.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670

    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors
    214-872-2710
    Investor.Relations@OneCECO.com

    The MIL Network

  • MIL-OSI: Gilat Secures Approximately $15 Million in Orders from Leading Satellite Operators for GEO, MEO and LEO Constellations

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, Oct. 15, 2024 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it has been awarded approximately $15 million in orders from several major satellite operators for its advanced satellite communications solutions for GEO, MEO and LEO constellations. The orders are expected to be delivered in several deliveries over the upcoming 18 months.

    These new orders underscore the strong, ongoing partnerships Gilat has developed with key industry players, reinforcing the company’s position as a trusted provider of cutting-edge satellite technology. Gilat’s solutions are critical in enabling a broad range of connectivity and enterprise services across the globe.

    “We are witnessing continuous demand for our innovative satellite communications solutions, as operators continue to expand their networks to meet the increasing needs of users worldwide,” said Hagay Katz Chief Product and Marketing Officer. “Our portfolio ensures future-ready connectivity, serving diverse markets and applications with unparalleled reliability and reach.”

    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: Xtract One Announces Fiscal 2024 Fourth Quarter Conference Call

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 15, 2024 (GLOBE NEWSWIRE) — Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”), a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced that it will release fiscal 2024 fourth quarter results after the close of trading on October 24, 2024. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will host a webcast and conference call at 10:00 a.m. Eastern Time the following day, October 25, 2024, to review the three months and twelve months ended July 31, 2024.

    The webcast and presentation will be accessible on the company’s website, and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers). Management will provide an overview of the interim financial results along with management’s outlook for the business, followed by a question-and-answer period.

    About Xtract One Technologies
    Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive threat detection systems that enable venue building operators to prioritize and deliver improved patron experiences while providing unprecedented safety. Xtract One’s innovative AI-powered Gateway product enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Its AI-based Xtract One Vision allows venue and building operators to identify weapons and other threats inside and outside of facilities, and Xtract One Insights provides valuable intelligence for optimizing operations. For more information, visit http://www.xtractone.com or connect on Facebook, Twitter, and LinkedIn

    For further information, please contact:
    Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com
    Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, kristen@jmgpr.com
    Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, cwitty@darrowir.com

    The MIL Network

  • MIL-OSI: OTC Markets Group Welcomes Medicenna Therapeutics Corp. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Medicenna Therapeutics Corp. (TSX: MDNA; OTCQX: MDNAF), a clinical-stage immunotherapy company, has qualified to trade on the OTCQX® Best Market. Medicenna Therapeutics Corp. upgraded to OTCQX from the OTCQB® Venture Market.

    Medicenna Therapeutics Corp. begins trading today on OTCQX under the symbol “MDNAF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on http://www.otcmarkets.com.

    The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

    “We are thrilled to be moving up to the OTCQX Best Market,” said Fahar Merchant, Ph.D., President and CEO of Medicenna. “This step strengthens our capital markets strategy by highlighting our dedication to transparency, improving liquidity, and broadening access to our stock for both U.S. and international investors.”

    About Medicenna Therapeutics Corp.
    Medicenna is a clinical-stage immunotherapy company focused on developing novel, highly selective versions of IL-2, IL-4 and IL-13 Superkines and first-in-class Empowered Superkines. Medicenna’s long-acting IL-2 Superkine, MDNA11, is a next-generation IL-2 with superior affinity toward CD122 (IL-2 receptor beta) and no CD25 (IL-2 receptor alpha) binding, thereby preferentially stimulating cancer-killing effector T cells and NK cells. Medicenna’s IL-4 Empowered Superkine, bizaxofusp (formerly MDNA55), has been studied in 5 clinical trials enrolling over 130 patients, including a Phase 2b trial for recurrent GBM, the most common and uniformly fatal form of brain cancer. Bizaxofusp has obtained FastTrack and Orphan Drug status from the FDA and FDA/EMA, respectively. Medicenna’s early-stage high-affinity IL-2β biased IL-2/IL-15 Super-antagonists, from its MDNA209 platform, are being evaluated as potential therapies for autoimmune and graft-versus host diseases. Medicenna’s early-stage BiSKITs™ (Bifunctional SuperKine ImmunoTherapies) and the T-MASK™ (Targeted Metalloprotease Activated SuperKine) programs are designed to enhance the ability of Superkines to treat immunologically “cold” tumors.

    For more information, please visit http://www.medicenna.com, and follow us on Twitter and LinkedIn.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit http://www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network

  • MIL-OSI: Bank of Åland Plc to decrease prime rate

    Source: GlobeNewswire (MIL-OSI)

    Bank of Åland Plc
    Stock exchange release
    October 15, 2024, 14.00 EET

    Bank of Åland Plc to decrease prime rate

    The Bank of Åland Plc (Ålandsbanken Abp) has decided to decrease its prime rate by 0.35 percentage points, from 3.25 per cent to 2.90 per cent. The basis for this decision is decreasing market interest rates. The change goes into effect on October 29, 2024.

    Bank of Åland Plc

    For further information, please contact:
    Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel +358 40 512 7505

    The MIL Network

  • MIL-OSI: Beamr and Bridge Digital Inc. to Deliver “Forever Video” to Broadcasters and Video Streamers

    Source: GlobeNewswire (MIL-OSI)

    Bridge Digital Inc. to Distribute Beamr’s GPU-Based, High-Performance and Future-Proofed Video Service to News, Sports, and Entertainment Broadcasters and Streamers, along with Other Companies With Large Video Repositories

    Herzliya, Israel, Oct. 15, 2024 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization and modernization technology and solutions, today announced a collaboration with Bridge Digital Inc., a proven video technology integrator.

    Beamr’s patented, GPU-based and award-winning technology – available through scalable cloud services – significantly reduces video files sizes and live streams by up to 50%, while maintaining the same quality as the original.

    Combined with Bridge Digital Inc.’s extensive expertise, Beamr and Bridge Digital Inc. will offer a specialized service for companies and organizations with large-scale video repositories, including news, sports, entertainment and user-generated content for delivery and distribution. Beamr and Bridge Digital Inc. will enable companies that rely on video for their daily operations or manage vast video libraries to achieve “Forever Video” – future-proofing their content to ensure long-term compatibility through efficient, automatic, and scalable processes, all while significantly reducing costs.

    Beamr’s high-efficiency, high-quality video service also enables upgrades to AV1 format (AOMedia Video 1) – ensuring long-term compatibility of the videos.

    “The collaboration with Bridge Digital Inc. leveraging their extensive expertise in media storage and video management, provides Beamr customers with a streamlined approach to fully benefit from our video pipelines”, said Beamr CEO, Sharon Carmel. He added: “In the expanding video world, companies face rising costs and complexity. Beamr GPU-based services process videos 10X faster at 1/10 the cost of software-based workflows, providing critical value to the broadcasting, streaming, IoT, and edge computing industries.”

    “Beamr adds significant value to the process we coined ‘Forever Video’”, said Bridge Digital Inc. CEO, Richie Murray. He elaborated that “Video modernization to AV1 or HEVC (High-Efficiency Video Codec) formats provides remarkable value to companies with large video repositories, ensuring they can be played in the decades to come, secured with high-quality, or transferred to new storage systems if needed”.

    Beamr Cloud optimization and modernization service is easily accessible to AWS (Amazon Web Services) and OCI (Oracle Cloud Infrastructure) customers, offering automatic, scalable and cost-efficient video pipelines that are AI ready.

    Bridge Digital Inc. is a US-based integrator of video technologies, specializing in improving video workflows. Over more than two decades, they have served dozens of video creators and owners in managing, monetizing, distributing and archiving video repositories effectively and efficiently.

    About Beamr

    Beamr (Nasdaq: BMR) is a world leader in content-adaptive video optimization and modernization. The company serves top media companies like Netflix and Paramount. Beamr’s inventive perceptual optimization technology (CABR) is backed by 53 patents and won the Emmy® award for Technology and Engineering. The innovative technology reduces video file size by up to 50% while guaranteeing quality.

    Beamr Cloud is a high-performance, GPU-based video optimization and modernization service designed for businesses and video professionals across diverse industries. It is conveniently available to Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers. Beamr Cloud enables video modernization to advanced formats such as AV1 and HEVC, and is ready for video AI workflows. For more details, please visit http://www.beamr.com    

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on March 4, 2024, and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof, and the Company undertakes no duty to update such information except as required under applicable law.                                               

    Investor Contact:

    investorrelations@beamr.com

    The MIL Network

  • MIL-OSI Translation: 14/10/2024 Undersecretary of State Marek Prawda participated in the meeting of the Foreign Affairs Council

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    Undersecretary of State Marek Prawda participated in the meeting of the Foreign Affairs Council on 14/10/2024. The main topics of today’s meeting in Luxembourg were Russia’s aggression against Ukraine and the situation in the Middle East.

    The ministers also held an informal discussion with British Foreign Secretary David Lammy. The Council also adopted further sanctions against Iran in connection with its military support for Russia’s aggressive war against Ukraine. In the discussion on Russia’s aggression against the Minister of Ukraine, Marek Prawda stressed the need to provide further support for the attacked country, including military and energy support. He spoke in favour of lifting restrictions on the use of weapons transferred to Ukraine by the West and appealed for the urgent unblocking of financing for military support for Ukraine from the European Peace Facility. He also supported the proposal to establish an EU and G7 loan mechanism, guaranteed by income from the frozen assets of the Central Bank of Russia. He also pointed to the need to maintain sanctions pressure on Russia and effectively combat the circumvention of sanctions, including by using the so-called “shadow fleet”. Minister Pravda also stressed the need to combat the Kremlin’s false propaganda. He noted that all peace initiatives must be in accordance with the Charter of the United Nations and the principle of inviolability of borders and prepared in close consultation with Ukraine and accepted by it. In relation to the situation in the Middle East, Deputy Minister Marek Prawda emphasized that de-escalation remains the overriding goal. The Deputy Head of Polish Diplomacy also drew attention to the need to protect civilians, aid workers, UN personnel and members of the UNIFIL mission. The Undersecretary of State recalled that it was at Poland’s initiative that 40 countries participating in the peacekeeping forces in Lebanon signed a statement condemning the recent attacks on the mission’s force base. In an informal discussion with British Minister David Lammy, Deputy Minister Prawda declared Poland’s support for strengthening cooperation between the European Union and the United Kingdom of Great Britain and Ireland in the area of foreign policy and WA. As part of current affairs, the Deputy Minister referred to Poland’s support for Moldova on the eve of the presidential elections and the referendum on EU integration, and also pointed to the key importance of the upcoming parliamentary elections in Georgia for its geopolitical future.

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Translation: 14/10/2024 The government adopted a draft act amending the Act on Agricultural Tax, the Act on Local Taxes and Fees and the Act on Stamp Duty

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The government has adopted a draft act amending the Act on Agricultural Tax, the Act on Local Taxes and Fees and the Act on Stamp Duty14/10/2024

    The Council of Ministers has adopted the draft act submitted by the Minister of Finance amending the Act on Agricultural Tax, the Act on Local Taxes and Fees and the Act on Stamp Duty. The aim of the draft is primarily to ensure uniform principles for taxing garages in residential buildings and to introduce a comprehensive definition of a building and structure into the Act on Local Taxes and Fees. Key solutions Unification of the principles for taxing garages in residential buildings with property tax. All rooms intended for storing vehicles in residential buildings (not occupied for business activities) will be taxed as apartments. Clarified definitions of “building” and “structure” for the purposes of property tax. The lack of reference in the definitions of “building” and “structure” to construction law will ensure increased certainty of tax law, which will no longer be directly affected by changes in construction law. The draft contains a closed list of structures subject to taxation. At the same time, the catalogue of construction equipment subject to taxation has been narrowed down to only those that are directly related to a building or structure and necessary for their use in accordance with the e-designation. So-called small architectural objects will remain outside taxation. Extension until 31 March 2025 of the possibility of submitting a property tax return by entrepreneurs, to give them time to adapt to the proposed changes. Abolition of the application procedure for granting subject exemptions in the agricultural tax (e.g. for research institutes), which will be applied by operation of law – in order to eliminate unnecessary bureaucracy. Tightening the collection of the spa fee. Municipal councils have been granted the right to impose on collectors of the spa fee the obligation to keep records of persons who will be required to pay this fee, which will enable control over the reliable fulfillment of the obligation to collect this fee. Determination of the jurisdiction of the tax authority in the matter of the stamp duty on a power of attorney submitted in electronic form (for example in the e-Tax Office). The proposed regulations are to enter into force on 1 January 2025.

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI China: Report on Aggregate Financing to the Real Economy (Flow) (Q1-Q3 2024)

    Source: Peoples Bank of China

    According to preliminary statistics, the aggregate financing to the real economy (AFRE) (flow) was RMB25.66 trillion in Q1-Q3 2024, down RMB3.68 trillion from the same period of 2023. Specifically, RMB loans to the real economy registered an increase of RMB15.39 trillion, RMB4.13 trillion smaller than the increase in the same period of 2023; foreign currency-denominated loans to the real economy (RMB equivalent) recorded a decrease of RMB206.3 billion, RMB69.8 billion larger than the decrease in the same period of 2023; entrusted loans registered a decrease of RMB15.5 billion, RMB121.2 billion larger than the decrease in the same period of 2023; trust loans recorded an increase of RMB356.2 billion, RMB292.3 billion larger than the increase in the same period of 2023; undiscounted bankers’ acceptances recorded a decrease of RMB147.6 billion, RMB389.3 billion larger than the decrease in the same period of 2023; net financing of corporate bonds was RMB1.59 trillion, down RMB54.5 billion year on year (y-o-y); net financing of government bonds was RMB7.18 trillion, up RMB1.22 trillion y-o-y; domestic equity financing by non-financial enterprises was RMB170.5 billion, down RMB503.9 billion y-o-y.

    Note 1: AFRE (flow) refers to the volume of financing provided by the financial system to the real economy within a certain period. In the calculations of AFRE (flow), data are from the PBOC, NFRA, CSRC, CCDC, NAFMII, etc.

    Note 2: Starting from January 2023, the PBOC added three types of non-depository banking financial institutions, namely consumer finance companies, wealth management companies, and financial asset investment companies, into financial statistics, hence adjustments to “RMB loans to the real economy” and “loan write-offs” in AFRE. At end-January 2023, the balance of RMB loans issued to the real economy by the above-mentioned institutions registered RMB841.0 billion, up RMB5.7 billion month on month; the balance of loan write-offs registered RMB170.6 billion, up RMB3.0 billion month on month. The statistics in this report are on a comparable basis.

    Date of last update Nov. 29 2018

    2024年10月14日

    MIL OSI China News

  • MIL-OSI China: Report on Aggregate Financing to the Real Economy (Stock) (September 2024)

    Source: Peoples Bank of China

    According to preliminary statistics, outstanding aggregate financing to the real economy (AFRE) reached RMB402.19 trillion at end-September 2024, increasing 8.0 percent year on year. Specifically, outstanding RMB loans to the real economy posted RMB250.87 trillion, increasing 7.8 percent year on year; outstanding foreign currency-denominated loans to the real economy (RMB equivalent) recorded RMB1.43 trillion, decreasing 18.6 percent year on year; outstanding entrusted loans registered RMB11.25 trillion, decreasing 0.9 percent year on year; outstanding trust loans registered RMB4.26 trillion, increasing 11.8 percent year on year; outstanding undiscounted bankers’ acceptances recorded RMB2.34 trillion, declining 19.6 percent year on year; outstanding corporate bonds registered RMB32.07 trillion, increasing 2.2 percent year on year; outstanding government bonds reached RMB76.97 trillion, increasing 16.4 percent year on year; and outstanding domestic equity of non-financial firms amounted to RMB11.6 trillion, increasing 2.6 percent year on year.

    By structure, outstanding RMB loans to the real economy accounted for 62.4 percent of the total AFRE at end-September, decreasing 0.1 percentage points year on year; outstanding foreign currency-denominated loans to the real economy (RMB equivalent) accounted for 0.4 percent, decreasing 0.1 percentage points year on year; outstanding entrusted loans accounted for 2.8 percent, decreasing 0.2 percentage points year on year; outstanding trust loans accounted for 1.1 percent, increasing 0.1 percentage points year on year; outstanding undiscounted bankers’ acceptances accounted for 0.6 percent, decreasing 0.2 percentage points year on year; outstanding corporate bonds accounted for 8 percent, decreasing 0.4 percentage points year on year; outstanding government bonds accounted for 19.1 percent, increasing 1.3 percentage points year on year; and outstanding domestic equity of non-financial firms constituted 2.9 percent, decreasing 0.1 percentage points year on year.

    Note 1: AFRE (Stock) refers to the outstanding financing provided by the financial system to the real economy at the end of a period (end of a month, end of a quarter or end of a year). In the calculation of AFRE, data are from PBOC, NFRA, CSRC, CCDC, NAFMII, etc.

    Note 2: Starting from January 2023, the PBOC added three types of non-depository banking financial institutions into financial statistics, namely consumer finance companies, wealth management companies, and financial asset investment companies, hence adjustments to “RMB loans to the real economy” and “loan written-offs” in AFRE. At end-January 2023, outstanding RMB loans to the real economy issued by the above-mentioned three institutions posted RMB841 billion, increasing RMB5.7 billion month on month; the outstanding loan written-offs posted RMB170.6 billion, increasing RMB3 billion month on month. The statistics in this report are on a comparable basis.

    Date of last update Nov. 29 2018

    MIL OSI China News

  • MIL-OSI China: Announcement on Open Market Operations No.203 [2024]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.203 [2024]

    (Open Market Operations Office, October 15, 2024)

    In order to keep liquidity adequate at a reasonable level in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB68.3 billion through quantity bidding at a fixed interest rate on October 15, 2024.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB68.3 billion

    1.50%

    Date of last update Nov. 29 2018

    2024年10月15日

    MIL OSI China News

  • MIL-OSI China: Financial Statistics Report (Q1-Q3 2024)

    Source: Peoples Bank of China

    1. Broad money rose by 6.8 percent

    At end-September, broad money supply (M2) stood at RMB309.48 trillion, increasing by 6.8 percent year on year. Narrow money supply (M1), at RMB62.82 trillion, decreased by 7.4 percent year on year. The amount of currency in circulation (M0) was RMB12.18 trillion, an increase of 11.5 percent year on year. The first three quarters of the year saw a net money injection of RMB838.6 billion.

    2. RMB loans grew by RMB16.02 trillion in the first three quarters

    At end-September, outstanding RMB and foreign currency loans totaled RMB257.71 trillion, up 7.6 percent year on year. Outstanding RMB loans stood at RMB253.61 trillion, registering a year-on-year growth of 8.1 percent.

    In the first three quarters, new RMB loans amounted to RMB16.02 trillion. By sector, household loans increased by RMB1.94 trillion, with short-term loans and medium and long-term (MLT) loans rising by RMB402.4 billion and RMB1.54 trillion, respectively; loans to enterprises and public institutions grew by RMB13.46 trillion, with short-term loans, MLT loans and bill financing rising by RMB2.83 trillion, RMB9.66 trillion and RMB828.3 billion, respectively; and loans to non-banking financial institutions grew by RMB188.7 billion.

    At end-September, outstanding foreign currency loans stood at USD585.5 billion, down 14.6 percent year on year. In the first three quarters, foreign currency loans dropped by USD70.9 billion.

    3. RMB deposits increased by RMB16.62 trillion in the first three quarters

    At end-September, the outstanding amount of RMB and foreign currency deposits was RMB306.83 trillion, up 7.1 percent year on year. RMB deposits recorded an outstanding amount of RMB300.88 trillion, rising by 7.1 percent year on year.

    In the first three quarters, RMB deposits increased by RMB16.62 trillion. Specifically, household deposits, fiscal deposits and deposits of non-banking financial institutions rose by RMB11.85 trillion, RMB724.8 billion and RMB4.5 trillion, respectively, while deposits of non-financial enterprises fell by RMB2.11 trillion.

    At end-September, the outstanding amount of foreign currency deposits was USD849.1 billion, up 9 percent year on year. In the first three quarters, foreign currency deposits rose by USD51.2 billion.

    4. The monthly weighted average interest rates for interbank RMB lending and bond pledged repos in September stood at 1.78 percent and 1.83 percent respectively

    Lending, cash bond and repo transactions in the interbank RMB market totaled RMB1583.16 trillion for the first three quarters, with the daily average declining by 2.8 percent year on year to RMB8.38 trillion. Specifically, the average daily turnovers of interbank lending and pledged repo trading fell by 31.4 percent and 5.6 percent year on year, respectively, while that of cash bond trading increased by 25.7 percent year on year.

    The monthly weighted average interest rate for interbank lending in September stood at 1.78 percent, up 0.01 percentage points month on month but down 0.09 percentage points year on year. The monthly weighted average interest rate for pledged repos was 1.83 percent, up 0.04 percentage points month on month but down 0.13 percentage points year on year.

    5. Official foreign exchange reserves stood at USD3.32 trillion

    At end-September, China’s foreign exchange reserves stood at USD3.32 trillion, and the USD/CNY exchange rate was 7.0074.

    6. RMB cross-border settlement under the current account reached RMB11.76 trillion and RMB cross-border settlement of direct investment posted RMB6.04 trillion for the first three quarters

    RMB cross-border settlement under the current account reached RMB11.76 trillion for the first three quarters, including RMB8.88 trillion in settlement of trade in goods and RMB2.88 trillion in settlement of trade in services and other current account items. RMB cross-border settlement of direct investment amounted to RMB6.04 trillion, of which ODI and FDI posted RMB2.11 trillion and RMB3.93 trillion, respectively.

    Notes:

    1. Data for the current period are preliminary.

    2. Starting from 2015, deposits of non-banking financial institutions have been included in RMB deposits, foreign currency deposits and deposits in RMB and foreign currencies, while lending to non-banking financial institutions has been included in RMB loans, foreign currency loans and loans in RMB and foreign currencies.

    3. “Loans to enterprises and public institutions” in this report refers to loans to non-financial enterprises, government agencies and organizations.

    4. Starting from December 2022, e-CNY in circulation has been included in the amount of currency in circulation (M0). At end-December, e-CNY in circulation stood at RMB13.61 billion. The revision has not caused notable changes to month-end M1 or M2 growth rates of 2022. Shown below are the revised M0 growth rates.

    Jan. 2022

    Feb. 2022

    Mar. 2022

    Apr. 2022

    May 2022

    Jun. 2022

    Currency in circulation (M0)

    18.5%

    5.8%

    10.0%

    11.5%

    13.5%

    13.9%

    Jul. 2022

    Aug. 2022

    Sept. 2022

    Oct. 2022

    Nov. 2022

    Dec. 2022

    Currency in circulation (M0)

    13.9%

    14.3%

    13.6%

    14.4%

    14.1%

    15.3%

    5. Starting from January 2023, the People’s Bank of China has incorporated into the coverage of financial statistics three types of non-depository banking financial institutions, i.e., consumer finance companies, wealth management companies and financial asset investment companies. At end-January 2023, loans issued by the three types of institutions recorded an outstanding balance of RMB841 billion, posting an increase of RMB5.7 billion for the month, while their deposits registered an outstanding amount of RMB22.2 billion, rising by RMB2.7 billion over the month. All the statistics in this report are provided on a comparable basis.

    Date of last update Nov. 29 2018

    MIL OSI China News

  • MIL-OSI Russia: Samotlorneftegaz held an ethnic culture festival in Yugra

    MILES AXLE Translation. Region: Russian Federation –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    Samotlorneftegaz (part of the Rosneft oil production complex) held the Festival of Ethnic Culture of Indigenous Peoples of Yugra in the Nizhnevartovsk District of the Khanty-Mansi Autonomous Okrug. The large-scale event was attended by more than 500 representatives of different peoples living and working in the Khanty-Mansiysk Okrug.

    Preservation of national culture and traditional way of life of indigenous peoples of the North is one of the significant areas of Rosneft’s social policy. The company annually implements large-scale projects to support indigenous peoples in the regions of its operations.

    During the folklore festival, many interactive events were held aimed at intercultural communication with the Khanty and Mansi peoples. The festival was timed to coincide with the beginning of the “little winter” according to the natural calendar of the Ob Ugrians, who, according to centuries-old traditions, strive to live in harmony with the environment. Representatives of the indigenous people of Yugra, through rituals, told about the philosophy of their peoples, living in harmony with the environment and maintaining the natural balance.

    Folk craftsmen held various master classes on national decorative and applied arts. Festival guests learned how to make amulets from natural materials, the traditional Khanty doll akan, and jewelry using ornamental patterns.

    A separate area hosted ethnosports events of indigenous peoples, which originate from the traditional way of life of reindeer herders and are an integral part of the unique culture of the Khanty and Mansi. Guests took part in northern all-round competitions, which included jumping over sleds, archery, and pulling a stick on a reindeer skin.

    Artistic numbers were performed on the concert stage, and in the guest tent visitors were treated to national cuisine. The ethnofestival ended with a large-scale round dance of friendship of peoples.

    Reference:

    Samotlorneftegaz is one of the key production enterprises of Rosneft, leading the development of the largest Samotlor field in Russia, which is located in the Khanty-Mansi Autonomous Okrug – Yugra.

    Samotlorneftegaz systematically implements the principles of supporting the national communities of the Khanty and Mansi. With the assistance of the enterprise, a unique digital project is being implemented in the district to provide ancestral lands with cellular communications and the Internet. At the moment, it has covered 3,650 people living in 177 territories of traditional nature management.

    The regional digital educational platform “Camp School-Garden” is being developed on the basis of the IT project. Currently, there are six camp schools-gardens operating in Yugra.

    Also, with the support of Samotlorneftegaz, scientific and practical conferences are held with the participation of representatives of the indigenous peoples of the North, competitions of professional skills among reindeer herders, and competitions in national sports.

    Department of Information and Advertising of PJSC NK Rosneft October 15, 2024

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.rosneft.ru/press/nevs/item/220917/

    MIL OSI Russia News

  • MIL-Evening Report: Albanese government promises to ban ‘dodgy’ trading practices

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

    Hard on the heels of pledging a crackdown on excessive surcharges, the Albanese government has promised legislation to ban unfair trading practices.

    The government said this would include specific prohibitions on various “dodgy” practices.

    “From concert tickets to hotel rooms to gym memberships, Australians are fed up with businesses using tricky tactics that make it difficult to end subscriptions or add hidden fees to purchases,” the prime minister, treasurer and assistant treasurer said in a statement.

    “These practices can distort purchasing decisions, or result in additional costs, putting more pressure on the cost of living.”

    They said the government would deal with

    • “subscription traps” that make it difficult to cancel a subscription

    • “drip pricing” characterised by hidden fees or fees added during the purchase

    • deceptive and manipulative online practices. These aim to confuse consumers, such as for example by creating a false sense of urgency, warning there is only a limited time to purchase

    • dynamic pricing, where a price changes during the transaction

    • requiring a consumer to set up an account and provide unnecessary information for an online purchase

    • a business making it difficult for a consumer to contact it when they have a problem with the product.

    Earlier this week Arts Minister Tony Burke said on the ABC the government was not looking at “dynamic pricing” in the music industry.

    Asked on Four Corners whether dynamic pricing should be allowed in Australia, Burke said: “Surge pricing is something that, as consumers, people have always dealt with.

    “I don’t love it, but I think we have to be realistic, it’s always been there. It’s not something we’re looking at, at the moment.”

    Asked about the discrepancy, a government spokesperson said the Four Corners interview “was recorded a month ago, before this policy existed”.

    Treasury will consult on the design of the planned changes. The government on Wednesday will put out a consultation paper on reforms for greater protections for consumers and small businesses under the consumer guarantees and supplier indemnification in the Australian Consumer Law.

    The government says it will work with the states to have a final reform proposal in the first half of next year.

    There will be penalties for suppliers that refuse to give consumers a remedy such as a replacement product or a refund when legally required.

    “Currently, it can be difficult for consumers to obtain a remedy, especially when engaging in the digital economy,” the government statement said.

    The reforms would empower the Australian Competition and Consumer Commission and state and territory agencies to pursue breaches of consumer guarantees and supplier indemnification provisions.

    Prime Minister Anthony Albanese said “hidden fees and traps are putting even more pressure on the cost of living and it needs to stop”.

    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. Albanese government promises to ban ‘dodgy’ trading practices – https://theconversation.com/albanese-government-promises-to-ban-dodgy-trading-practices-234142

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: CECO Environmental Upsizes Credit Facility to $400 Million

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 15, 2024 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, has announced a significant upsize in the form of an amendment and restatement of its credit facility, increasing it to a $400 million senior secured revolving credit facility. This expansion from the existing $246 million aggregate capacity underscores CECO’s strategic commitment to strengthening its financial resources in pursuit of both organic and inorganic growth.

    The expanded credit facility comes with a five-year term and an option to increase the facility by $125 million. This move enables CECO with additional resources to efficiently fund potential opportunities and expand its footprint in global markets.

    Peter Johansson, CECO’s Chief Financial and Strategy Officer, emphasized the strategic importance of this expanded credit facility, noting, “This move not only provides us with greater financial agility but also reinforces our commitment to executing our growth plans effectively. With the backing of our committed financial partners, we are well-equipped to adapt to the evolving industry landscape and seize emerging opportunities.”

    Bank of America, N.A. is the Administrative Agent; BofA Securities, Inc. and TD Securities are the Joint Lead Arrangers, and The Toronto-Dominion Bank, New York Branch, Citibank, N.A., Fifth Third Bank, N.A. and JPMorgan Chase Bank, N.A. are Co-Syndication Agents. 

    ABOUT CECO ENVIRONMENTAL
    CECO Environmental is a leading environmentally focused, diversified industrial company, serving the broad landscape of industrial air, industrial water and energy transition markets across the global through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide customer solutions for applications including power generation, petrochemical processing, general industrial, refining, midstream oil and gas, electric vehicle production, poly silicon fabrication, battery recycling, beverage can, and water/wastewater treatment along with a wide range of other applications. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Dallas, Texas. For more information, please visit http://www.cecoenviro.com.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670
    investor.relations@onececo.com

    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors, LLC
    214-872-2710
    investor.relations@onececo.com

    The MIL Network

  • MIL-OSI Economics: South Africa: African Development Bank and Absa unveil multi-billion rand financial package to expand sustainable capital markets, boost economic…

    Source: African Development Bank Group
    The African Development Bank and Absa Group, one of Africa’s leading financial services providers, today celebrated a landmark agreement to mark the execution of a transformative financial package aimed at increasing funding for underserved segments, across South Africa and the continent.

    MIL OSI Economics

  • MIL-OSI United Kingdom: UK-Italy Young Leaders Programme: call for applications

    Source: United Kingdom – Executive Government & Departments

    This UK-Italy programme brings together a group of professionals whose common link is their leadership and passion for forging closer UK and Italy ties.

    Young Leaders Programme

    Every year, the UK and Italian Government will hold an open competition to invite applications from young Italian and British professionals onto the programme. Young Leaders can come from all sectors, including positions in the civil service, the military, leading companies, politics, charitable organisations, start-ups or the arts. They are dedicated to encouraging closer relations between the UK and Italy by promoting an innovative vision of the future bilateral relationship.

    Successful applicants are asked to sign the Young Leaders Charter (see attachment) and invited to undertake a visit to both the UK and Italy, to encourage closer relations through understanding culture and values, promoting constructive dialogue, exchanging thoughts and ideas and promoting the bilateral relationship.

    Once the Young Leaders have completed their visits, they will be invited to join the “Young Leaders Alumni” network, which includes personalities from distinguished careers ranging from journalists, scientists, the military and academics to business entrepreneurs, writers, art directors and composers.

    The UK-Italy Young Leaders Programme is an initiative supported by both governments, and is delivered by the British Embassy in Rome and the Italian Embassy in London.

    Read the Young Leaders Charter

    Young Leaders Charter

    Download the YLP pamphlet with more information on the programme

    UK-ITALY young leaders programme pamphlet

    Request an accessible format.
    If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email fcdo.correspondence@fcdo.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

    Discover more about the 2024 young leaders (bios)

    Young Leaders 2024 – bios

    Application process

    How can I apply for the Young Leaders Programme?

    To apply for the Programme, you must be a young professional under 40 years old (on the closing date for applications) who is a UK and/or Italian citizen. You must speak fluent English and demonstrate a commitment to build and shape UK-Italy bilateral relations.

    To apply, please download and complete the application form and email it with a copy of your CV (doc or pdf format) and a head and shoulders photo taken within the last year to: youngleadersprogramme@fcdo.gov.uk

    Applications for the Young Leaders Programme 2025 will open from 13 September 2024 until 27 October 2024 at 23.59 GMT. Applications will not be processed after the closing date. Successful applicants will be contacted directly.

    Updates to this page

    MIL OSI United Kingdom

  • MIL-OSI USA: Science expeditions in snow, hail and air pollution

    Source: US Government research organizations

    NSF celebrates the 2024 Earth Science Week theme ‘Earth Science Everywhere’ with 3 upcoming field campaigns across the country

    Starting this winter through next summer, the U.S. National Science Foundation is supporting three field campaigns, or collaborative research activities, to study atmospheric phenomena. The first will take place in Colorado and focus on snowstorms. Soon after that wraps up, another group of researchers will gather in the Great Plains to study hailstorms. Finally, a team of scientists will take to the skies above New York City to look at air pollution drivers.

    Winter snowstorms from a cloudy perspective

    Credit: Melissa Dobbins

    From their perch in a wind vane atop the Storm Peak Laboratory, several cloud probes measure the properties of snowflakes and aerosols.

    Claire Pettersen and a group of researchers will spend 4 1/2 months working at a lab atop a Colorado mountain this coming winter as part of an NSF-funded field campaign to improve snowfall forecasts and climate change projections in the western U.S. mountains.

    The team includes scientists from multiple universities gathering at NSF-supported Storm Peak Lab, which sits atop Mount Werner next to a chairlift in the Steamboat Ski Resort, about an hour northwest of Denver. “Storm Peak Lab is a really cool place to design a field campaign,” Pettersen, a professor at the University of Michigan, said. “The lab actually sits inside a cloud when it snows on the mountain.”

    The lab’s unique location and cutting-edge meteorological instruments make it an ideal location to study how mountains impact winter clouds and snowfall. The upcoming effort, called the Snow Sensitivity to Clouds in a Mountain Environment (S2noCliME) field campaign, will leverage many NSF-funded resources in addition to the lab’s instruments, including the Colorado State University Sea-Going Polarimetric Radar, which will help the team study how storms can strengthen or weaken as they move through the region, and the State University of New York at Stony Brook radar observatory, which will help the team investigate cloud and ice particles during a snowstorm.

    The team is working with scientists at the NSF National Center for Atmospheric Research (NSF NCAR) to put together a public field catalog that holds its data and observations. The team is also connecting with the community, including the local airport and nearby schools, to share weather forecasts and raise awareness of the campaign. “We want to provide something to the community that’s useful,” Pettersen said.

    Springing into hailstorms in the Plains

    After the snow melts and spring turns to summer next year, hail scientist Becky Adams-Selin of the company Atmospheric and Environmental Research, along with 14 collaborating institutions from 11 states and four countries, will spend six weeks in the Great Plains and Front Range studying hailstones falling from the sky.

    Hail can destroy buildings and devastate crops. To better understand the science behind the ice, Adams-Selin is leading an upcoming field campaign called In-situ Collaborative Experiment for the Collection of Hail In the Plains (ICECHIP), which will use a variety of instruments and techniques to study hail processes in thunderstorms in the Great Plains and Front Range of the Rocky Mountains.

    Credit: Becky Adams-Selin, AER

    A 3D-printed replica of the 7-inch hailstone that fell in Aurora, Nebraska on June 22, 2003.

    “It’s been a few decades since the last major field campaign focused on hail,” Adams-Selin.

    ICECHIP plans to make up for the long gap with a multipronged approach. The team will send out four mobile radars to characterize hailstones’ physical characteristics, like their size and shape. During a hailstorm, the team will use custom-designed equipment to capture the stones as they fall and redirect them into a cooler. Other plans include creating 3D printed hail models and then using drones to drop them to see how fast they fall.

    “Hail science is having a renaissance moment,” Adams-Selin said. Not only will this campaign provide valuable data for researchers and weather forecasters, but it will also aid insurance companies trying to set rates and mitigate damage, roofing companies, farmers and other entities affected by hail. “We are very integrated with the people who will use our science,” she said.

    City air in the summertime

    In the height of summer next year, John Mak and a team of researchers will spend four to six weeks studying what happens in the air above and around New York City.

    “New York City is a unique environment with a lot of relevance to the American population,” Mak, a professor at Stony Brook University, said. “We will fly the NSF NCAR C-130 aircraft and collect gases and particles to study this densely populated area that has a forest to its north, ocean to its south and large urban center in its center.” The resulting information will inform future research on ozone and air pollution and provide important information to air quality agencies to help them make decisions on methodologies for mitigating air pollution.

    The Greater New York Oxidant, Trace gas, Halogen and Aerosol Airborne Mission (GOTHAAM) will focus on the summer months. The warmer temperatures and longer days make for a unique laboratory setting to see how both urban and natural emissions from surrounding forests and water bodies create unique chemical reactions that can impact air quality and public health.

    “You can get a really interesting ‘soup’ of different kinds of compounds that can change throughout the day,” Mak said. “We’ll be exploring the interplay among the different pots, looking at how they mix throughout the day and what happens overnight, and how this impacts the next day’s chemistry as the sun comes up.”

    Earth Science Week activities

    Whether they’re studying snow in Colorado, hail in the Great Plains or air pollution in New York City, NSF-supported scientists are supporting the 2024 Earth Science Week theme, ‘Earth Science Everywhere.’

    Here are some activities related to each field campaign for K-12 students and educators:

    MIL OSI USA News

  • MIL-OSI Video: HOTA: Agustín Ramos Calero

    Source: US Army (video statements)

    :DMD

    About the U.S. Army:
    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.
    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L
    Connect with the U.S. Army online:
    Web: https://www.army.mil Facebook: https://www.facebook.com/USarmy/ X: https://www.twitter.com/USArmy Instagram: https://www.instagram.com/usarmy/ LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #HeroesOfTheArmy

    https://www.youtube.com/watch?v=Su9Uzowo_Vw

    MIL OSI Video

  • MIL-OSI Global: Rain may have helped form the first cells, kick-starting life as we know it

    Source: The Conversation – USA – By Aman Agrawal, Postdoctoral Scholar in Chemical Engineering, University of Chicago Pritzker School of Molecular Engineering

    How did early cells keep themselves distinct while allowing for some amount of exchange? UChicago Pritzker School of Molecular Engineering/Peter Allen, Second Bay Studios, CC BY-ND

    Billions of years of evolution have made modern cells incredibly complex. Inside cells are small compartments called organelles that perform specific functions essential for the cell’s survival and operation. For instance, the nucleus stores genetic material, and mitochondria produce energy.

    Another essential part of a cell is the membrane that encloses it. Proteins embedded on the surface of the membrane control the movement of substances in and out of the cell. This sophisticated membrane structure allowed for the complexity of life as we know it. But how did the earliest, simplest cells hold it all together before elaborate membrane structures evolved?

    In our recently published research in the journal Science Advances, my colleagues from the University of Chicago and the University of Houston and I explored a fascinating possibility that rainwater played a crucial role in stabilizing early cells, paving the way for life’s complexity.

    The origin of life

    One of the most intriguing questions in science is how life began on Earth. Scientists have long wondered how nonliving matter like water, gases and mineral deposits transformed into living cells capable of replication, metabolism and evolution.

    Chemists Stanley Miller and Harold Urey at the University of Chicago conducted an experiment in 1953 demonstrating that complex organic compounds – meaning carbon-based molecules – could be synthesized from simpler organic and inorganic ones. Using water, methane, ammonia, hydrogen gases and electric sparks, these chemists formed amino acids.

    The Miller-Urey experiment showed that complex organic compounds can be made from simpler organic and inorganic materials.
    Yoshua Rameli Adan Perez/Wikimedia Commons, CC BY-SA

    Scientists believe the earliest forms of life, called protocells, spontaneously emerged from organic molecules present on the early Earth. These primitive, cell-like structures were likely made of two fundamental components: a matrix material that provided a structural framework and a genetic material that carried instructions for protocells to function.

    Over time, these protocells would have gradually evolved the ability to replicate and execute metabolic processes. Certain conditions are necessary for essential chemical reactions to occur, such as a steady energy source, organic compounds and water. The compartments formed by a matrix and a membrane crucially provide a stable environment that can concentrate reactants and protect them from the external environment, allowing the necessary chemical reactions to take place.

    Thus, two crucial questions arise: What materials were the matrix and membrane of protocells made of? And how did they enable early cells to maintain the stability and function they needed to transform into the sophisticated cells that constitute all living organisms today?

    Bubbles vs droplets

    Scientists propose that two distinct models of protocells – vesicles and coacervates – may have played a pivotal role in the early stages of life.

    Miniature compartments, such as lipid bilayers configured into capsules like liposomes and micelles, are important for cellular organization and function.
    Mariana Ruiz Villarreal, LadyofHats/Wikimedia Commons

    Vesicles are tiny bubbles, like soap in water. They are made of fatty molecules called lipids that naturally form thin sheets. Vesicles form when these sheets curl into a sphere that can encapsulate chemicals and safeguard crucial reactions from harsh surroundings and potential degradation.

    Like miniature pockets of life, vesicles resemble the structure and function of modern cells. However, unlike the membranes of modern cells, vesicle protocells would have lacked specialized proteins that selectively allow molecules in and out of a cell and enable communication between cells. Without these proteins, vesicle protocells would have limited ability to interact effectively with their surroundings, constraining their potential for life.

    Coacervates, on the other hand, are droplets formed from an accumulation of organic molecules like peptides and nucleic acids. They form when organic molecules stick together due to chemical properties that attract them to each other, such as electrostatic forces between oppositely charged molecules. These are the same forces that cause balloons to stick to hair.

    One can picture coacervates as droplets of cooking oil suspended in water. Similar to oil droplets, coacervate protocells lack a membrane. Without a membrane, surrounding water can easily exchange materials with protocells. This structural feature helps coacervates concentrate chemicals and speed up chemical reactions, creating a bustling environment for the building blocks of life.

    Thus, the absence of a membrane appears to make coacervates a better protocell candidate than vesicles. However, lacking a membrane also presents a significant drawback: the potential for genetic material to leak out.

    Unstable and leaky protocells

    A few years after Dutch chemists discovered coacervate droplets in 1929, Russian biochemist Alexander Oparin proposed that coacervates were the earliest model of protocells. He argued that coacervate droplets provided a primitive form of compartmentalization crucial for early metabolic processes and self-replication.

    Subsequently, scientists discovered that coacervates can sometimes be composed of oppositely charged polymers: long, chainlike molecules that resemble spaghetti at the molecular scale, carrying opposite electrical charges. When polymers of opposite electrical charges are mixed, they tend to attract each other and stick together to form droplets without a membrane.

    Coacervate droplets resemble oil suspended in water.
    Aman Agrawal, CC BY-SA

    The absence of a membrane presented a challenge: The droplets rapidly fuse with each other, akin to individual oil droplets in water joining into a large blob. Furthermore, the lack of a membrane allowed RNA – a type of genetic material thought to be the earliest form of self-replicating molecule, crucial for the early stages of life – to rapidly exchange between protocells.

    My colleague Jack Szostak showed in 2017 that rapid fusion and exchange of materials can lead to uncontrolled mixing of RNA, making it difficult for stable and distinct genetic sequences to evolve. This limitation suggested that coacervates might not be able to maintain the compartmentalization necessary for early life.

    Compartmentalization is a strict requirement for natural selection and evolution. If coacervate protocells fused incessantly, and their genes continuously mixed and exchanged with each other, all of them would resemble each other without any genetic variation. Without genetic variation, no single protocell would have a higher probability of survival, reproduction and passing on its genes to future generations.

    But life today thrives with a variety of genetic material, suggesting that nature somehow solved this problem. Thus, a solution to this problem had to exist, possibly hiding in plain sight.

    Rainwater and RNA

    A study I conducted in 2022 demonstrated that coacervate droplets can be stabilized and avoid fusion if immersed in deionized water – water that is free of dissolved ions and minerals. The droplets eject small ions into the water, likely allowing oppositely charged polymers on the periphery to come closer to each other and form a meshy skin layer. This meshy “wall” effectively hinders the fusion of droplets.

    Next, with my colleagues and collaborators, including Matthew Tirrell and Jack Szostak, I studied the exchange of genetic material between protocells. We placed two separate protocell populations, treated with deionized water, in test tubes. One of these populations contained RNA. When the two populations were mixed, RNA remained confined in their respective protocells for days. The meshy “walls” of the protocells impeded RNA from leaking.

    In contrast, when we mixed protocells that weren’t treated with deionized water, RNA diffused from one protocell to the other within seconds.

    Inspired by these results, my colleague Alamgir Karim wondered if rainwater, which is a natural source of ion-free water, could have done the same thing in the prebiotic world. With another colleague, Anusha Vonteddu, I found that rainwater indeed stabilizes protocells against fusion.

    Rain, we believe, may have paved the way for the first cells.

    Droplets with meshy walls resist fusion and prevent leakage of their RNA. In this image, each color represents a different type of RNA.
    Aman Agrawal, CC BY-SA

    Working across disciplines

    Studying the origins of life addresses both scientific curiosity about the mechanisms that led to life on Earth and philosophical questions about our place in the universe and the nature of existence.

    Currently, my research delves into the very beginning of gene replication in protocells. In the absence of the modern proteins that make copies of genes inside cells, the prebiotic world would have relied on simple chemical reactions between nucleotides – the building blocks of genetic material – to make copies of RNA. Understanding how nucleotides came together to form a long chain of RNA is a crucial step in deciphering prebiotic evolution.

    To address the profound question of life’s origin, it is crucial to understand the geological, chemical and environmental conditions on early Earth approximately 3.8 billion years ago. Thus, uncovering the beginnings of life isn’t limited to biologists. Chemical engineers like me, and researchers from various scientific fields, are exploring this captivating existential question.

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

    ref. Rain may have helped form the first cells, kick-starting life as we know it – https://theconversation.com/rain-may-have-helped-form-the-first-cells-kick-starting-life-as-we-know-it-238291

    MIL OSI – Global Reports

  • MIL-OSI Global: This course explores the history of contested presidential elections

    Source: The Conversation – USA – By Sarah J. Purcell, Professor of History, Grinnell College

    The 2000 election featuring George W. Bush and Al Gore was ultimately decided by the Supreme Court. Tannen Maury via Getty Images

    Uncommon Courses is an occasional series from The Conversation U.S. highlighting unconventional approaches to teaching.

    Title of course:

    Contested U.S. Presidential Elections

    What prompted the idea for the course?

    I was looking for a way to make history relevant to students. Since I research and teach a lot about U.S. politics, I decided to focus on presidential elections that had contested results. Contested elections have happened when candidates failed to win a majority of electoral votes, meaning the House of Representatives had to decide the election; when electoral votes themselves were contested; when problems with vote counts necessitated courts intervening in an election; or when states or candidates refused to accept the results.

    Coming out of 2020, I saw a lot of anxiety among students – and in society in general – about gearing up for the 2024 election. Offering historical context seemed like a good way to enrich students’ current civic engagement.

    What does the course explore?

    We are studying the most-contested U.S. presidential elections: 1800, 1824, 1860, 1876, 2000 and 2020.

    Candidates failed to win a majority of electoral votes in 1800 and 1824. Sectional rancor over slavery caused states to reject the results in 1860. Disputed electoral votes in 1876 led to a political compromise that resolved the electoral votes in favor of Rutherford B. Hayes in exchange for ending Reconstruction.

    Problems with vote counting in Florida in 2000 led the Supreme Court to essentially decide the election in Bush v. Gore. And most recently in 2020, then-President Donald Trump disputed the results unsuccessfully.

    We are covering a wide swath of U.S. political history in just eight weeks. Students are also writing a blog for public audiences and submitting other public writing, like op-ed pieces, to stretch their own historical thinking and communication skills and help the public contextualize the present election.

    Why is this course relevant now?

    People are asking whether U.S. democracy can survive the 2024 election. Students are learning how the system has been shaped by previous crises in legitimacy.

    One example is when the electoral tie between Thomas Jefferson and Aaron Burr in 1800 led to the ratification of the 12th Amendment that established separate electoral votes for the president and vice president. The worst crisis came when Southern states rejected Abraham Lincoln’s election in 1860 and decided to secede from the United States, leading to the Civil War.

    What’s a critical lesson from the course?

    History can’t predict the future, but it can provide key context to understand the present. The U.S. electoral system has weaknesses, such as the Electoral College, built in by the Constitution, but the acceptance of the results by losers has been a key to U.S. political stability through many different contested elections over time. Before 2020, no presidential candidate had ever contested the final election results.

    For instance, Andrew Jackson won both the popular vote and a plurality of the Electoral College vote in 1824, but Jackson accepted John Quincy Adams as the legitimate president when the House of Representatives decided the winner. Jackson, however, accused Speaker of the House Henry Clay of a “corrupt bargain” to hand Adams the presidency in return for appointing Clay as secretary of state. Jackson still recognized Adams as the legitimate president but beat him badly in the next election in 1828.

    What materials does the course feature?

    The students have analyzed scholarly articles and many primary sources, mostly collected by the Library of Congress. Several important books have also shaped their thinking: Jim Downs’ 2024 “January 6 and the Politics of History”; E. J. Dionne and William Kristol’s 2001 “Bush v. Gore: The Court Cases and the Commentary”; and Kate Cote Gillin’s 2014 “Shrill Hurrahs: Women, Gender, and Racial Violence in South Carolina, 1865-1900.”

    What will the course prepare students to do?

    Students in the class are using historical skills and ways of thinking to help themselves, their friends and anyone else to put the current election into perspective. They are all doing final projects that use what they’ve learned in class to communicate with the public through op-eds, social media projects, websites and other creative projects in the lead-up to the 2024 election. They are prepared for their own civic engagement and with skills in journalism and public communication.

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

    ref. This course explores the history of contested presidential elections – https://theconversation.com/this-course-explores-the-history-of-contested-presidential-elections-240420

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Attorney General’s 2024 Bingham Lecture on the rule of law

    Source: United Kingdom – Executive Government & Departments

    On 14 October 2024, the Attorney General Lord Hermer KC delivered the 2024 Bingham Lecture titled ‘The Rule of Law in an Age of Populism’.

    Opening remarks

    Thank you Helena for that introduction.  It is a particular privilege to be introduced by a friend who I admire and respect so much and by someone who has spent a lifetime promoting the rule of law and protecting human rights.      

    Thank you also to the Bingham Centre for inviting me to speak to you this evening.

    For nearly fifteen years, the Bingham Centre has been an essential voice for the advancement of rule of law values at home and abroad. Its work to promote a better understanding of the rule of law and to help build the capacity to give it practical effect, has never been more vital than it is today.

    It is a record of which Tom Bingham, in whose name I am honoured to give this lecture, would surely have been proud. It is wonderful to see so many of his family here tonight, Lady Bingham, Dame Kate, Kit and Mary.

    Lord Bingham’s judicial and non-judicial writing, his stature as one of the great postwar judges, has been an inspiration for generations of lawyers, myself very much included.  I had the privilege of appearing in front of Lord Bingham as a junior in a series of interesting cases before the House of Lords in which I was led by a promising young silk called Keir Starmer. 

    But like many in this audience I also felt a personal tie to Tom Bingham.  I applied for silk in 2009 and Lord Bingham was one of my referees but sadly my father, who was a lawyer, died shortly before my appointment.  My sense of loss at not being able to share the news with my dad was softened by the fact that before he died I was able to show him a letter that Lord Bingham had written to me.  The letter was filled with the warmth and support that many who knew Tom Bingham will recognise. Thus I will always feel a very personal debt of gratitude to him for the joy and pride that his letter gave to my dad.   

    It was in his cogent and elegant account of the rule of law that Tom Bingham encapsulated in his eight principles.  Such was the authority and clarity of his analysis that the principles are now a necessary reference point for any discussion (or indeed speech) on the subject.

    As Sir Jeffrey Jowell put it when he spoke at the launch of this Centre back in December 2010:

    Tear open the Bingham package of requirements for the rule of law and, as each of his ingredients falls away, we progressively observe the stark outlines of tyranny- at worst; or authoritarianism – at best.

    That remark has a particular resonance today. And what better illustration of the enduring contribution of that book could there be than the sight, earlier this year, of its Ukrainian translation being launched in Kyiv, on the frontline of the ongoing struggle for democratic, rules-based values.

    Introduction: setting the scene, and the challenge

    As that scene attests, we are living through uncertain and challenging times, with threats to the rule of law on a number of fronts.

    This evening, I would like to talk about the necessary response to these challenges, through restoration of our reputation as a country that upholds the rule of law at every turn and by embedding resilience to rebuff the populist challenge. 

    Restoration and resilience.  I’m going to begin by setting out the nature of the challenge as well as proffering some thoughts on the relationship between the rule of law, democracy and human rights.  I will then turn to three themes that I consider lie at the heart of the restoration and resilience project firstly, the rebuilding our reputation as a leader in the field of international law and the international rules based order; secondly, the strengthening of Parliament’s role in upholding the rule of law and thirdly the promotion of a rule of law culture.

    Our starting point is not a happy one.  Conflict currently affects more countries than at any time since the Second World War. As too many people around the world are driven from their homes by wars and instability, there is a sense of an international system that is unable to act. That is unable to prevent wars of aggression and to address desperate humanitarian need.

    As the Prime Minister said at the General Assembly in New York, those “institutions of peace” that the UK and others worked so hard to establish after the horrors of the Second World War are struggling. Those rules that we have all worked so hard to maintain are being undermined. And faith in international law, and the international rule of law, is being chiselled away in communities who are told, time and again, that the system is failing to deliver for them.

    The challenges we face are increasingly global – whether the development of AI, the threat of climate change, growing inequality, or increased migration – and we need a functioning global order, underpinned by a strong commitment to the rule of law, to even begin to tackle them.

    At home, too, we cannot afford to be complacent about the extent to which values that once were taken for granted have been undermined. A near decade of crisis and political instability has, at times, stretched the fabric of our constitution to its limit.  I don’t wish to make a party political speech, indeed I am determined to make the promotion of the rule of law a project we can all sign up to irrespective of our political allegiance. 

    At a time when there is a desperate need for cooperation and solutions, we are increasingly confronted by the divisive and disruptive force of populism. This is not a new phenomenon. But in recent years we have grown accustomed to diagnosing its symptoms, on both right and left.

    We face leaders who see politics as an exercise in division; who appeal to the ‘will of the people’ (as exclusively interpreted by them) as the only truly legitimate source of constitutional authority.

    Their rhetoric conjures images of a conspiracy of ‘elites’; an enemy that is hard to define, but invariably including the people and independent institutions who exercise the kind of checks and balances on executive power that are the essence of liberal democracy and the rule of law. Judges. Lawyers. A free press. NGOs. Parliament. The academy. An impartial and objective civil service.  Populists work to diminish their legitimacy or, at worst, actively remove them from the scene altogether.

    Allied to this, we have also seen how populism, in its most pernicious forms, works to demonise other groups, usually minorities – to discredit the legal frameworks and institutions that guarantee their rights, and dismantle, often through calculated misinformation, the political consensus that underpins them.

    The argument

    Times of crisis and challenge are fertile ground for this kind of politics. And they can create a receptive audience for the populists’ argument that the rule of law is somehow in tension with democratic values.

    It is this dynamic that I want to address in tonight’s speech – I want to argue that this is precisely the time for us to reaffirm that the rule of law – both domestically and internationally – is the necessary precursor to those democratic values, providing the foundations for political and economic flourishing.

    And I want to be clear that by the rule of law, I do not just mean rule by law; a purely procedural and formal conception that populists and authoritarians can themselves so often use as a cloak of legitimacy.

    One of Lord Bingham’s great contributions was to promote a more substantive conception of the rule of law, including the idea that the law must afford adequate protection of fundamental human rights. I too believe that human rights – both at the level of principle, and in practice through how they are enforced – are an essential element of the rule of law and a stable democratic culture. As well as recognising and protecting the dignity of all, they guarantee the essential rights and freedoms which underpin our system.

    Far from being at odds with democracy, as some populists would have us believe, the rule of law is the bedrock on which it rests. What good is democracy – indeed, can democracy exist – without the right to free and fair elections or freedom of speech, guaranteed by the right of access to the courts and an independent judiciary? And I would go further. Democracy, in my view, is inextricably related to the rule of law, properly understood. For what good is the rule of law without democracy, which confers essential legitimacy on the rules that govern the relationship between citizen and state?

    Lord Bingham’s conception of the rule of law also recognises that international law is the ‘Rule of Law’ writ large, and that States must comply with their international obligations, just as they must comply with domestic law. This, too, is crucial. International law is not simply some kind of optional add-on, with which States can pick or choose whether to comply. It is central to ensuring our prosperity and security, and that of all global citizens.  As will develop later, our reputation as a country that can trusted to comply with its international law obligations, and has a robust adherence to the rule of law, is essential to our ability to grow the economy, as grow it we shall.

    And maintaining our international reputation also enhances our ability to work with our partners to get things done in this time of global challenge. Rather than isolating ourselves from our closest allies, it means we can strengthen cooperation on issues like migration; whether that’s the Anti-Smuggling Action Plan, which the Home Secretary secured with G7 partners in Italy earlier this month; or closer working with international law enforcement partners to target smuggling gangs.

    To shore up the rule of law against the forces of populism, we must also emphasise its importance as an idea that unites, rather than divides us. The work to rebuild a political consensus around these values will not be easy. It must be proactive, cross-party and internationalist. It must be sensitive to any legitimate reasons why people have lost faith in the rule of law and its institutions. It will require patient, long-term thinking, hard work and consistent commitment to build the necessary coalitions, and to produce and implement detailed policy proposals.

    So, to meet these challenges it is my view that we need to take immediate steps to restore the UK’s reputation as a rule of law leader whilst at the same time also seek to build and secure the rule of law’s long term resilience in the face of threats known and unknown, domestic and international.

    Restoration and resilience.  Restoration and resilience.  In this speech, I want to talk about three themes that will guide this Government in this project.  As I outlined earlier, my first theme, is rebuilding the UK’s international rule of law leadership before turning next to the role of Parliament and then finally embedding a rule of law culture.

    Theme 1: rebuilding the UK’s international rule of law leadership

    The UK’s international rule of law leadership.

    Historically, the UK has been a leader in developing and promoting international law and the institutions on which its effectiveness depends. British lawyers and politicians have been at the forefront of drafting and negotiating the most important treaties that underpin our international legal system and building the institutional machinery that breathes life into those paper agreements.

    The UK will again demonstrate that leadership – so essential in today’s highly-connected, but highly fragmented, world – and sadly so absent in recent years.

    That starts by clearly, and without question, honouring our obligations under international law.

    Since taking office, this Government has already taken steps to uphold those obligations and demonstrate our deep commitment to international law. We have reached agreement with Mauritius to settle the historic sovereignty claims over BIOT/Chagos Archipelago in a manner that successfully marries our international law obligations with vital national security requirements; we have applied our IHL obligations by compliance with our arms licensing criteria – applying law not politics; we have made plain our commitment to our cornerstone international institutions not least the ICJ and ICC.

    And we will continue to abide by and unequivocally support the European Convention on Human Rights, including by complying with requests from the Court for interim measures. Walking, or threatening to walk away, would be a total abdication of our international law responsibilities and send out precisely the wrong message at a time when the rule of law is under threat in so many places.

    But we will go further than simply meeting our obligations under the Convention specifically and international law generally – that we will do so should go without saying. My point is that the UK will once again be a champion for international courts and institutions, taking positive steps to promote their importance and to rebuild the respect for them that the populists have sought to destroy.  As the Prime Minister has said, having discovered the Convention in a law library in Leeds some 40 years ago, the rights it sets out speak about the dignity of every human being, and are a source of inspiration from which we can all draw strength and value.

    After the First World War, the UK championed the establishment of a Permanent Court of International Justice. British Judges sitting in that Court and many subsequent international courts and tribunals have delivered judgments that have brought clarity to all areas of international law.

    I am therefore delighted that the UK National Group has announced its intention to nominate Professor Dapo Akande – who will be well known to many in this room – as the UK’s candidate for election to the International Court of Justice in 2026. I cannot think of a better representative for the UK’s expertise in international law and I am delighted to personally endorse Dapo’s campaign.

    And it is through international courts that we hope to finally see justice for Ukraine. I have dedicated my professional life to fighting for justice and accountability, and nowhere was the need for that more apparent than in my recent visit to Ukraine. I was profoundly struck by the stories I heard at Bucha’s cathedral and in Irpin.

    Despite the unimaginable suffering that the people of Ukraine have endured, they remain clear-eyed about the importance of the international rule of law and accountability. I – and the whole Government – remain steadfast in our support for Ukraine, on the battlefield and in the courtroom. This includes support for work towards establishing a Special Tribunal on the Crime of Aggression against Ukraine.

    But these systems, and the promise offered by international law, only work when we work in partnership with our friends and partners around the world.

    In many parts of the world, especially in the Global South, the international rules-based order and human rights are often seen as imperialist constructs, selectively invoked by western governments when it suits their interests. It is incumbent upon us to first, listen, to those who feel unheard. And secondly, to demonstrate – not just with warm words, but with concrete actions – that international law can deliver real benefits to all. And those actions must be consistent, we must show that we will hold ourselves to the highest standards.

    We will advocate for reform of the Security Council, to ensure that those with seats at the top table truly represent the global community. That means permanent representation from Africa, from Brazil, India, Japan and Germany.  And our approach to international development will show that we have learnt the lessons of history that, to be sustainable, the rule of law cannot be imposed on developing countries by former colonial rulers, but must be grown organically from within by working closely with local communities and institutions.

    And we will be unwavering in our commitment to tackling climate change, where we know that many of the worst effects are felt by those who have made the smallest contributions to this existential threat.

    Theme 2: defending and strengthening Parliament’s role in upholding the rule of law.

    My second theme is closer to home. A crucial part of restoring the rule of law, and building resilience in the face of future threats, involves thinking about the respective roles of our own institutions in upholding these fundamental values.

    This must start by recognising that upholding the rule of law cannot just be left to the courts. All branches of our constitution must see the rule of law, in its fullest sense, as a guiding force for their own actions.

    Speaking as a relatively new member of two of these branches, I hope my colleagues in this room will not mind if I offer some initial reflections on the role of Parliament in this regard; both in terms of its own functions, and the Government’s relationship to it.

    Parliamentary sovereignty is one of the fundamental features of our constitution and the ultimate legal authority of Parliament to make or unmake any law is crystal clear.  However, viewing the rule of law through this distorting lens of ultimate decision-making authority alone risks mistaking it for a purely formal, and thin, conception of ‘rule by law’. 

    As lawyers know, Parliament’s authority in our constitution is legal authority, an authority that requires that Parliament maintains in its legislation the ideals of the rule of law, of government under law, one of the contributions to the modern world of which we in the UK are justly proud.  And as I (following Lord Bingham) have explained, those ideals are much thicker and more substantive that the thin gruel of a formal conception of ‘rule by law’.

    We have seen in recent years where that disregard for our constitutional rule of law heritage can lead.  It is crucial that all institutional actors understand their role in a government under law. When Government invites Parliament to breach international law, or oust the jurisdiction of the courts, it not only undermines the rule of law, but also the mutual respect that historically has been one of the great strengths of our constitution.  It risks pitting one institution against another in ways that damage our reputation both inside and outside our borders as a law-abiding nation. 

    We must also work to counter the false choice, offered by some, between parliamentary democracy and fundamental rights. For almost a quarter of a century, the Human Rights Act has shown how it is possible, with imagination, to provide a legal framework for the protection of fundamental rights which can co-exist with parliamentary sovereignty. Indeed, the Act specifically preserves Parliament’s ultimate decision-making authority through its regime of non-binding Declarations of Incompatibility, defences, and section 19(1)(b) statements.

    And the enforcement of the Act otherwise by the courts, far from being at odds with democracy, is its vindication. Because it was our democratically elected Parliament that legislated for the Human Rights Act, and provided the mechanisms by which individual rights should be given meaningful effect in domestic law. It is testament to the framers of the Act that no Parliament elected since 1998 has chosen to fundamentally alter that position.

    It is also right to reflect on how Parliament can itself actively protect and enhance rule of law values. It does this through its scrutiny of legislation, most notably through the expertise of my colleagues in both Houses, but also through its Select Committee system. And it is incumbent on any government to ensure that those Committees are able to do their jobs effectively. I welcome the contribution that committees such as the Lords Constitution Committee, the Delegated Powers Committee and the Joint Committee on Human Rights make to the debate on human rights and the rule of law, and I look forward to working constructively with them in this Parliament.

    But there are aspects of Government’s relationship with Parliament that require more careful examination. Most pressingly, there is in my view a real need to consider the balance between primary and secondary legislation, which in recent years has weighed too heavily in favour of delegated powers.

    The twin challenges of Brexit and the Covid pandemic had the effect of concentrating immense power in the hands of the executive, through the conferral and exercise of broad delegated powers, including so-called Henry VIII powers. Some of this can be explained by the exceptional character, and unique demands, of both events. However, it would be a mistake to view this as an aberration. As the Delegated Powers and Regulatory Reform Committee have noted, Brexit and Covid did not mark the beginning of the shift in the balance between Parliament and the executive, so much as an acceleration and intensification of an existing trend.

    As technical as these issues may sound, they raise real questions about how we are governed. I said earlier that I see democracy as inextricably related to the rule of law. In our system of Parliamentary democracy, consent to be governed is expressed through the delegation, every four or five years, of powers by the governed to Parliament. It is the importance of this model of consent that explains in very large measure why I have been so concerned, on entering Government, to improve the standards we adhere to when we make policy and law – and specifically to ensure that the processes we adopt support the rule of law.

    Secondary legislation has an indispensable role to play in a modern, regulated society. There is no suggestion that the Government should not take or exercise delegated powers. However, excessive reliance on delegated powers, Henry VIII clauses, or skeleton legislation, upsets the proper balance between Parliament and the executive. This not only strikes at the rule of law values I have already outlined, but also at the cardinal principles of accessibility and legal certainty.

    In my view, the new Government offers an opportunity for a reset in the way that Government thinks about these issues. This means, in particular, a much sharper focus on whether taking delegated powers is justified in a given case, and more careful consideration of appropriate safeguards.

    Theme 3: promoting a rule of law culture, which builds public trust in the law and its institutions

    Finally, in my third theme I want to talk about culture and how we promote a rule of law culture which builds public trust in the law and its institutions – a vital task if the rule of law is to be made resilient enough to withstand the threats I have described in this age of populism.

    We begin this task from a difficult place. Too often, the starting point for debate is that law is part of the problem. At best, an abstraction that is disconnected from the realities of people’s lives. At worst, it can be held up by populists as a force that is somehow illegitimate. All of us who care about this subject – and particularly those of us in Government – need to work hard to counter these attitudes, and to foster a better understanding of the rightful place of law in a liberal democratic society.

    For Government, this means leading by example.  I hope you take some comfort in the fact that the importance of the rule of law and the constitutional balance is embedded in my DNA and that of a Prime Minister who not only rose to the top ranks of the Bar but served his country as DPP.  Vitally, it is also a principle deeply cherished and jealously protected by the Lord Chancellor who has overarching constitutional authority as the guardian of the rule of law not least to protect the independence of the judiciary.  Anyone who knows the Lord Chancellor and her determination to champion the rule of law will know that there will be no repeat of failures to defend attacks on the judiciary under her watch.   

    Of course, we will be judged by what we do, not what we may have done in the past let alone what we say now – and we will demonstrate our commitment to the rule of law in real and practical ways.  By way of example only, in the coming weeks I will issue an amended guidance for assessing legal risk across government that will seek to raise the standards for calibrating legality that the thousands of brilliant lawyers working in every part of government activity apply to deliver for the people of this country – I want them to feel empowered to give their full and frank advice to me and others in government and to stand up for the rule of law.

    But the challenge to rebuild a broad consensus around rule of law values, cannot be left merely to politicians.  It is a project that can only succeed if it is taken up by all of us, politicians, judges, lawyers, civil society, citizens. 

    We need to recognise that the populists have stolen a march – it is nearly always easier to deride and denigrate than it is to promote complex but vital principles.  We cannot stand by idly as rule of law principles and the human rights idea are undermined, sometimes without challenge, on television screens, the pages of newspapers and most effectively and invidiously of all, on social media.

    The challenge is to get out and explain the importance of the principles that we hold so dear – we have a fantastic story to tell and tell it we must. 

    We need to explain that the rule of law is not the preserve of arid constitutional theory.  We need to explain how it provides the stable and predictable environment in which people can plan their lives, do business and get ahead; in which businesses can invest, the economy can grow; people can resolve disputes fairly and peacefully, and express and enjoy their basic rights and freedoms. We must illustrate how systems that do not hold to these values can be arbitrary and capricious. And backsliding from Rule of Law values, once it begins, can take an unpredictable course.

    The story that we must tell is how the rule of law matters for growth, jobs and people’s livelihoods – how it impacts upon the pound in their pocket and on the type of future their children deserve to enjoy. Governments that undermine, or take a ‘pick and mix’ approach to these values, disincentivise investment. Today, we have hosted the Investment Summit with a clear message that Britain is open for business. Britain has many commercial advantages, but one of our greatest is the trust that businesses can have in our courts, and the confidence they can have in a stable and transparent business environment, underpinned by a strong rule of law.

    Education has a crucial role to play. We must take these messages to our schools and wider communities. I commend the work of civil society groups and charities such as Young Citizens and the Citizenship Foundation, and the Bingham Centre itself, who work with schools to promote a better understanding of the law and its importance in society. I believe it is right to think about whether even more can be done to strengthen the role of citizenship education as a means of promoting a better understanding of our constitution and, particularly, the importance of the rule of law.

    But we must also talk about these issues in a way that resonates with the public and in language that everyone understands. Because most people would instinctively recognise rule of law principles as values that are part of the very fabric of our society. Fair play. Justice. Rules that apply equally to all; not one rule for them, and another for the rest of us. And where disputes do arise – whether with a business, an employer, or a neighbour – an independent courts system which provides the means for their just resolution.

    And in the public realm, law is the great leveller that holds the powerful to account, and ensures that individual rights are respected. Those rights – human rights – are our rights, and belong to us all.  

    So it is we must proudly own the story of the European Convention on Human Rights, not least because in so doing we expose the wanton superficiality of many of its critics. We must explain how the values of the Convention are not foreign to us. They are universal. Closely connected rights are found deeply embedded in the heart of our own legal tradition. Echoes of habeas corpus, Magna Carta, and the Bill of Rights, can all be located in Articles 5 and 6 ECHR.  This country banned torture long before our continental cousins, never mind the promulgation of Article 3.  It is no coincidence that it was British lawyers, most notably the Conservative David Maxwell Fyfe, who helped to frame the European Convention after the Second World War, drawing of course inspiration from the Universal Declaration of Human Rights but also centuries of our own legal values.  It is simply legally fatuous and historically ignorant of armchair critics of the Convention to declare that its supporters somehow seek to undermine our traditions or should be dismissed as naive snowflakes. 

    To the contrary, the Convention was drafted by men and women who had witnessed the very worst that humans can do to each other, their views were forged not in a Tufton Street seminar but in the trenches and the battle grounds, in the prisoner of war camps and the historic prosecutions of the Nazi war criminals at Nuremberg.  The drafting and adoption took place not in a time of overindulgence but when societies were rebuilding from rubble and indeed this country was still under rationing.  They were hard-nosed men and women from a generation who had seen conflict and vowed ‘never again’.    The structures they helped to create, the values that underpin them, have served us well as a bulwark against totalitarianism, and a foundation for European peace. And they remain the best hope of protecting us from the threats we face today.

    For too long, populists have been able to frame the debate on human rights too narrowly, by reference to issues which, important as they are, can often feel disconnected from the everyday. We have to work to change this, not only by busting myths, but by showing how human rights positively touch so many aspects of wider society. The right to be treated equally. The right to express ourselves. The freedom to live in the way we choose, without undue interference from the state. These are the values we cherish and have chosen, collectively, to protect.

    So too must we work to combat disinformation and misinformation about law and lawyers. The disgraceful scenes of violent disorder over the summer, including threats against immigration law firms and advice centres, showed only too vividly that what is said online can have dangerous consequences in the real world.

    But the response to the riots also showed something more hopeful. People took to the streets not only to clean up and repair the damage, but to stand together against the forces of reaction and division. It is that spirit of decency and fairness that we must harness in our cause.   

    When I went to Liverpool I visited the library that had been burnt down in the riots and met a group of children who had been cowering under beds and in cupboards as the mobs went by at night but who the next morning got up and came to volunteer to rebuild.  I talked with them about the books that we were donating to the library (including Helena’s latest) which all concern how law and justice work for everyone – and we discussed the meaning and significance of the inscription that my office had placed inside each cover, taking the words of Dr Martin Luther King – that although the arc of humanity is long, it bends towards justice.

    Conclusion

    Restoration and resilience. These are the watchwords that will guide our defence of the rule of law in the face of populism. It is by renewing our commitment to rule of law values, as a Government and as a nation, at home and abroad, and patiently rebuilding the political consensus underpinning that commitment, that we will ensure that the rule of law is safe for future generations; so we may continue to work together towards achieving the Bingham Centre’s vision of ‘a world in which every society is governed by the Rule of Law in the interests of good government, peace at home and in the world at large’.

    Updates to this page

    Published 15 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Global: South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic

    Source: The Conversation – Africa – By Steven Matome Mathetsa, Senior Lecturer at the African Energy Leadership Centre, Wits Business School, University of the Witwatersrand

    South Africa’s state-owned electricity company, Eskom, has applied to the National Energy Regulator of South Africa to approve a 36.1% electricity price hike from April 2025, a 11.8% price increase in 2026 and an 9.1% increase in 2027. Steven Mathetsa teaches and researches sustainable energy systems at the University of the Witwatersrand’s African Energy Leadership Centre. He explains some of the problems with the planned tariff increase.

    Why such a big hike?

    Eskom says the multi-year price increase is because of the need to move closer a cost-reflective tariff that reflects the actual costs of supplying electricity.

    However, Eskom’s electricity tariff increases have been exorbitant for several years – an 18% increase in 2023 and a 13% increase in 2024. This is a price increase far above inflation, which is currently at 4.4%.

    Some companies have installed their own generation capacity, and individuals have moved to rooftop solar systems. As a result electricity sales have fallen by about 2% , resulting in a drop in revenue.

    There’s a knock on effect for municipalities, the biggest distributors of electricity, which have also been forced to hike tariffs in line with Eskom’s increases.

    All these costs are passed onto the consumers.

    What will the impact be on South Africans?

    If the hike is approved it will certainly worsen the economic difficulties facing
    South Africa. One of the most unequal countries in the world, South Africa has an extremely high unemployment rate – 33.5%at the last count.

    Economic growth is also very slow, at a mere 0.6% in 2023. The cost of living is high.

    Exorbitant increases in electricity costs aggravate these problems.

    South Africans and businesses in the country have little choice about where they source their energy. Eskom is still the sole supplier for nearly all the country’s electricity needs. This means that ordinary citizens are likely to continue relying on electricity supplied by Eskom, irrespective of the costs.

    The high costs affect businesses negatively. Large industrial and small, medium, and micro enterprises have all highlighted that costs associated with utilities, mainly electricity, are affecting their sustainability.




    Read more:
    Competition in South Africa’s electricity market: new law paves the way, but it won’t be a smooth ride


    The Electricity Regulation Amendment Act implementation will make major changes to Eskom. The reforms establish an independent Transmission Systems Operator tasked with connecting renewable energy providers to the grid. This will allow the creation of a competitive market where renewable energy providers can sell power to the grid.

    But it’s not yet clear if these changes will address the issue of exorbitant electricity price rises.

    What are the problems?

    The country’s energy frameworks are drafted on the basis of the World Energy Trilemma Index. The index promotes a balanced approach between energy security, affordability, and sustainability. In other words, countries must be able to provide environmentally friendly and reliable electricity that their residents can afford.

    South Africa is currently unable to meet these goals because of different energy policies that do not align, a lack of investment in electricity and dependency on coal-fired power. Electricity is increasingly becoming unaffordable in the country. Although there’s been a recent reprieve from power cuts, security of supply is still uncertain.




    Read more:
    South Africa’s new energy plan needs a mix of nuclear, gas, renewables and coal – expert


    Furthermore, over 78% of the country’s electricity is produced by burning coal. This means South Africa is also far from attaining its 2015 Paris Agreement greenhouse gas reduction goals.

    Compounding this problem is that Eskom is financially unstable – it needed R78 billion from the government in debt relief in 2024. For years, there was a lack of effective maintenance on the aging infrastructure.

    The country has made some inroads into improving security of supply. To date, recent interventions have resulted in over 200 days without power cuts. This should be commended. The same focus must be placed on ensuring that electricity remains affordable while giving attention to meeting the goals of the Paris Agreement.

    What needs to change?

    South Africa’s 1998 Energy Policy White Paper and the new Electricity Regulation Amendment Act promote access to affordable electricity. However, they’ve been implemented very slowly. Affordable electricity needs to be taken seriously.

    The question is whether the country’s electricity tariff methodology is flexible enough to accommodate poor South Africans, especially during these challenging economic times.

    In my view, it is not. In its current form, vulnerable communities continue to foot the bill for various challenges confronting Eskom, including financial mismanagement, operational inefficiencies, municipal non-payment, and corruption.

    I believe the following steps should be taken.

    Firstly, South Africa should revise its tariff application methodologies so that consumers, especially unemployed and impoverished people, are protected against exorbitant increases.

    Secondly, the National Energy Regulator of South Africa should strengthen its regulations to ensure its compliance and enforcement systems are effective. For example, Eskom should be held accountable when it does not deliver efficient services or mismanages funds, and be transparent about costs associated with its processes. Municipalities should also be held accountable for non-payment and other technical issues they regularly struggle with. Both affect the revenue of the power utility.




    Read more:
    South Africa’s economic growth affected by mismatch of electricity supply and demand


    Thirdly, the government must make sure that price increases are affordable and don’t hurt the broader economy. It can do this by adjusting its policies to make sure that increases in electricity tariffs are in line with the rate of inflation.

    Fourthly, communities can play a vital role in saving electricity at a household level. This will reduce the country’s overall energy consumption. Furthermore, both small and large businesses should continue to consider alternative energy technologies while implementing energy saving technologies.

    Lastly, the level of free-basic electricity is not sufficient for poor households. Subsidy policies should also be reviewed to allow users access to affordable electricity as their financial situation changes negatively.

    Steven Matome Mathetsa 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. South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic – https://theconversation.com/south-africas-36-1-electricity-price-hike-for-2025-why-the-power-utility-eskoms-request-is-unrealistic-240941

    MIL OSI – Global Reports

  • MIL-OSI Global: 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it

    Source: The Conversation – Africa – By Felix Mambo, Country Economist, London School of Economics and Political Science

    Mozambique ranks in the bottom 20 of the human development index. This measures a country’s progress based on key dimensions such as a long and healthy life and a decent standard of living. Nearly two-thirds of Mozambicans – 18.9 million people – live below the national poverty line of US$0.70-a-day.

    The country also struggles to finance public spending, consistently running state budget deficits . At the same time it also fails to spend all the money that’s been budgeted.

    Mozambique’s frequent budget deficits are no surprise. The country has a rapidly growing population, increasing needs of the poor populations, dilapidated infrastructure, and very limited revenue generation.

    In a recent study on budget credibility in Mozambique we explored how the government’s challenges in meeting its revenue and expenditure targets harm the overall economy. And we suggest solutions.

    Our study focused on public expenditures on the social sector. This included education, health, social protection and public works (which includes water and sanitation). All are vital for human capital generation and poverty reduction. The social sector accounts for 40% of budgeted expenditure. Education is the largest at about 20% of the overall pie.

    Our study introduces – and successfully tests – a simple method that can be easily applied by budget oversight entities. This includes the parliament budget oversight unit and the accounts court. It can also be applied by planning units within ministries, especially the ministry of finance. Finally, it can be used by civil society budget watchdogs, as it relies on public information.

    Adopting it will provide tools to improve budget management in turn leading to more credible budget execution.

    Assessing public financial management

    The Public Expenditure and Financial Accountability programme was initiated in 2001 by the European Commission, International Monetary Fund, World Bank, and the governments of France, Norway, Switzerland and the UK. The aim was is to improve fiscal outcomes. It has conducted 533 assessments in 155 countries, including 47 countries in sub-Saharan Africa. Ten assessments have been completed in Mozambique.

    The programme defines budget credibility as the extent to which the government’s budget is realistic and implemented as intended. A credible budget reassures a range of stakeholders on the predictability of public expenditure and services. This includes taxpayers, donors and lenders, the firms that supply the government, public workers and the recipients of public services.

    The credibility question

    To measure the credibility of the budget in Mozambique, we used publicly available state budget data. We looked at both planned spending and actual execution.

    In its previous assessments, the Public Expenditure and Financial Accountability programme had identified several weaknesses. These included deviations, sector-specific variability, revenue shortfalls and mid-year budget adjustments.

    However, these insights didn’t explore the origins of the underlying budget discrepancies. The assessments therefore didn’t allow for in-depth insights.

    In our study, we further analysed the credibility of the budget measured along expenditure types and the fiscal year.

    Our findings revealed consistent under-execution of budgeted expenditures. This was the case even in years with sufficient revenue. Significant disparities existed along sectors. For example, education and health showed relatively credible budgets compared to public works, social protection and overall non-social expenditures.

    A comparison between types of expenditure showed interesting patterns. An example is the investment expenditures in social sectors (such as schools, health facilities, water, and sanitation). These were primarily externally funded, showed higher volatility and lower credibility than current expenditures. Current expenditures include teachers’ payments and, more generally, overall salaries.

    We also found a strong indication of resource reallocation outside of regular budgetary rules. For example, we found a suggestion that resources initially allocated for investments were redirected to fund current expenditures.

    Finally, we found no strong evidence that mid-fiscal year budget adjustments improved reliability. This was in line with Public Expenditure and Financial Accountability reports.

    Causes and potential solutions

    The Government of Mozambique’s State Budget Account attributes budget inconsistencies to two main factors.

    On one hand, slower economic growth and inefficient tax collection lead to revenue shortfalls. On the other, there were expenditure overruns due to a range of developments. These included natural disasters, health shocks (such as COVID-19), inflation, exchange rate fluctuations and delays in donor disbursements. Administrative and logistical issues that delayed projects also played a role.

    The government has taken steps to mitigate these vulnerabilities. These include:

    • establishing a reserve fund under the new sovereign fund

    • increasing tax collection

    • it has initiated VAT reform. This was suggested by the IMF.

    These efforts are coupled with measures to address expenditure overruns. These include improving transparency and accountability in public budgets. They also include efforts to limit the overall public sector wage expenditure.

    Our study recommends additional strategies to boost budget credibility:

    Sectoral focus: enhance expenditure targeting in social sectors. This includes education, health, social protection and social work. And improve related budgeting processes

    Enhanced investment management: strengthen oversight mechanisms for externally financed projects. The aim would be to reduce fund diversion to unplanned purposes. And better alignment with long term development goals

    Budget adjustments reassessment: focus mid-fiscal-year budget adjustments on strategic reallocation rather than ad-hoc adjustments

    Improved monitoring: implement a system that enables the Ministry of Economy and Finance to identify areas for improvement, potential quick wins and best practices

    Budget credibility is crucial for Mozambique’s economic development and public trust. Effective budget management ensures transparency, predictability, and accountability. All are essential for sustainable growth.

    This is an modified version of a blog, Budget credibility in Mozambique – challenges and solutions, originally published by UNU-WIDER.

    An extended discussion of the topics covered in the blog, Understanding Mozambique’s budget credibility issues and solutions, was published by the International Growth Centre (IGC).

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it – https://theconversation.com/9-million-mozambicans-live-below-the-poverty-line-whats-wrong-with-the-national-budget-and-how-to-fix-it-240027

    MIL OSI – Global Reports

  • MIL-OSI Africa: 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it

    Source: The Conversation – Africa – By Felix Mambo, Country Economist, London School of Economics and Political Science

    Mozambique ranks in the bottom 20 of the human development index. This measures a country’s progress based on key dimensions such as a long and healthy life and a decent standard of living. Nearly two-thirds of Mozambicans – 18.9 million people – live below the national poverty line of US$0.70-a-day.

    The country also struggles to finance public spending, consistently running state budget deficits . At the same time it also fails to spend all the money that’s been budgeted.

    Mozambique’s frequent budget deficits are no surprise. The country has a rapidly growing population, increasing needs of the poor populations, dilapidated infrastructure, and very limited revenue generation.

    In a recent study on budget credibility in Mozambique we explored how the government’s challenges in meeting its revenue and expenditure targets harm the overall economy. And we suggest solutions.

    Our study focused on public expenditures on the social sector. This included education, health, social protection and public works (which includes water and sanitation). All are vital for human capital generation and poverty reduction. The social sector accounts for 40% of budgeted expenditure. Education is the largest at about 20% of the overall pie.

    Our study introduces – and successfully tests – a simple method that can be easily applied by budget oversight entities. This includes the parliament budget oversight unit and the accounts court. It can also be applied by planning units within ministries, especially the ministry of finance. Finally, it can be used by civil society budget watchdogs, as it relies on public information.

    Adopting it will provide tools to improve budget management in turn leading to more credible budget execution.

    Assessing public financial management

    The Public Expenditure and Financial Accountability programme was initiated in 2001 by the European Commission, International Monetary Fund, World Bank, and the governments of France, Norway, Switzerland and the UK. The aim was is to improve fiscal outcomes. It has conducted 533 assessments in 155 countries, including 47 countries in sub-Saharan Africa. Ten assessments have been completed in Mozambique.

    The programme defines budget credibility as the extent to which the government’s budget is realistic and implemented as intended. A credible budget reassures a range of stakeholders on the predictability of public expenditure and services. This includes taxpayers, donors and lenders, the firms that supply the government, public workers and the recipients of public services.

    The credibility question

    To measure the credibility of the budget in Mozambique, we used publicly available state budget data. We looked at both planned spending and actual execution.

    In its previous assessments, the Public Expenditure and Financial Accountability programme had identified several weaknesses. These included deviations, sector-specific variability, revenue shortfalls and mid-year budget adjustments.

    However, these insights didn’t explore the origins of the underlying budget discrepancies. The assessments therefore didn’t allow for in-depth insights.

    In our study, we further analysed the credibility of the budget measured along expenditure types and the fiscal year.

    Our findings revealed consistent under-execution of budgeted expenditures. This was the case even in years with sufficient revenue. Significant disparities existed along sectors. For example, education and health showed relatively credible budgets compared to public works, social protection and overall non-social expenditures.

    A comparison between types of expenditure showed interesting patterns. An example is the investment expenditures in social sectors (such as schools, health facilities, water, and sanitation). These were primarily externally funded, showed higher volatility and lower credibility than current expenditures. Current expenditures include teachers’ payments and, more generally, overall salaries.

    We also found a strong indication of resource reallocation outside of regular budgetary rules. For example, we found a suggestion that resources initially allocated for investments were redirected to fund current expenditures.

    Finally, we found no strong evidence that mid-fiscal year budget adjustments improved reliability. This was in line with Public Expenditure and Financial Accountability reports.

    Causes and potential solutions

    The Government of Mozambique’s State Budget Account attributes budget inconsistencies to two main factors.

    On one hand, slower economic growth and inefficient tax collection lead to revenue shortfalls. On the other, there were expenditure overruns due to a range of developments. These included natural disasters, health shocks (such as COVID-19), inflation, exchange rate fluctuations and delays in donor disbursements. Administrative and logistical issues that delayed projects also played a role.

    The government has taken steps to mitigate these vulnerabilities. These include:

    • establishing a reserve fund under the new sovereign fund

    • increasing tax collection

    • it has initiated VAT reform. This was suggested by the IMF.

    These efforts are coupled with measures to address expenditure overruns. These include improving transparency and accountability in public budgets. They also include efforts to limit the overall public sector wage expenditure.

    Our study recommends additional strategies to boost budget credibility:

    Sectoral focus: enhance expenditure targeting in social sectors. This includes education, health, social protection and social work. And improve related budgeting processes

    Enhanced investment management: strengthen oversight mechanisms for externally financed projects. The aim would be to reduce fund diversion to unplanned purposes. And better alignment with long term development goals

    Budget adjustments reassessment: focus mid-fiscal-year budget adjustments on strategic reallocation rather than ad-hoc adjustments

    Improved monitoring: implement a system that enables the Ministry of Economy and Finance to identify areas for improvement, potential quick wins and best practices

    Budget credibility is crucial for Mozambique’s economic development and public trust. Effective budget management ensures transparency, predictability, and accountability. All are essential for sustainable growth.

    This is an modified version of a blog, Budget credibility in Mozambique – challenges and solutions, originally published by UNU-WIDER.

    An extended discussion of the topics covered in the blog, Understanding Mozambique’s budget credibility issues and solutions, was published by the International Growth Centre (IGC).

    – 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it
    https://theconversation.com/9-million-mozambicans-live-below-the-poverty-line-whats-wrong-with-the-national-budget-and-how-to-fix-it-240027

    MIL OSI Africa

  • MIL-OSI Africa: South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic

    Source: The Conversation – Africa – By Steven Matome Mathetsa, Senior Lecturer at the African Energy Leadership Centre, Wits Business School, University of the Witwatersrand

    South Africa’s state-owned electricity company, Eskom, has applied to the National Energy Regulator of South Africa to approve a 36.1% electricity price hike from April 2025, a 11.8% price increase in 2026 and an 9.1% increase in 2027. Steven Mathetsa teaches and researches sustainable energy systems at the University of the Witwatersrand’s African Energy Leadership Centre. He explains some of the problems with the planned tariff increase.

    Why such a big hike?

    Eskom says the multi-year price increase is because of the need to move closer a cost-reflective tariff that reflects the actual costs of supplying electricity.

    However, Eskom’s electricity tariff increases have been exorbitant for several years – an 18% increase in 2023 and a 13% increase in 2024. This is a price increase far above inflation, which is currently at 4.4%.

    Some companies have installed their own generation capacity, and individuals have moved to rooftop solar systems. As a result electricity sales have fallen by about 2% , resulting in a drop in revenue.

    There’s a knock on effect for municipalities, the biggest distributors of electricity, which have also been forced to hike tariffs in line with Eskom’s increases.

    All these costs are passed onto the consumers.

    What will the impact be on South Africans?

    If the hike is approved it will certainly worsen the economic difficulties facing South Africa. One of the most unequal countries in the world, South Africa has an extremely high unemployment rate – 33.5%at the last count.

    Economic growth is also very slow, at a mere 0.6% in 2023. The cost of living is high.

    Exorbitant increases in electricity costs aggravate these problems.

    A 2023 protest against electricity prices hikes. Ashraf Hendricks/GroundUp

    South Africans and businesses in the country have little choice about where they source their energy. Eskom is still the sole supplier for nearly all the country’s electricity needs. This means that ordinary citizens are likely to continue relying on electricity supplied by Eskom, irrespective of the costs.

    The high costs affect businesses negatively. Large industrial and small, medium, and micro enterprises have all highlighted that costs associated with utilities, mainly electricity, are affecting their sustainability.


    Read more: Competition in South Africa’s electricity market: new law paves the way, but it won’t be a smooth ride


    The Electricity Regulation Amendment Act implementation will make major changes to Eskom. The reforms establish an independent Transmission Systems Operator tasked with connecting renewable energy providers to the grid. This will allow the creation of a competitive market where renewable energy providers can sell power to the grid.

    But it’s not yet clear if these changes will address the issue of exorbitant electricity price rises.

    What are the problems?

    The country’s energy frameworks are drafted on the basis of the World Energy Trilemma Index. The index promotes a balanced approach between energy security, affordability, and sustainability. In other words, countries must be able to provide environmentally friendly and reliable electricity that their residents can afford.

    South Africa is currently unable to meet these goals because of different energy policies that do not align, a lack of investment in electricity and dependency on coal-fired power. Electricity is increasingly becoming unaffordable in the country. Although there’s been a recent reprieve from power cuts, security of supply is still uncertain.


    Read more: South Africa’s new energy plan needs a mix of nuclear, gas, renewables and coal – expert


    Furthermore, over 78% of the country’s electricity is produced by burning coal. This means South Africa is also far from attaining its 2015 Paris Agreement greenhouse gas reduction goals.

    Compounding this problem is that Eskom is financially unstable – it needed R78 billion from the government in debt relief in 2024. For years, there was a lack of effective maintenance on the aging infrastructure.

    The country has made some inroads into improving security of supply. To date, recent interventions have resulted in over 200 days without power cuts. This should be commended. The same focus must be placed on ensuring that electricity remains affordable while giving attention to meeting the goals of the Paris Agreement.

    What needs to change?

    South Africa’s 1998 Energy Policy White Paper and the new Electricity Regulation Amendment Act promote access to affordable electricity. However, they’ve been implemented very slowly. Affordable electricity needs to be taken seriously.

    The question is whether the country’s electricity tariff methodology is flexible enough to accommodate poor South Africans, especially during these challenging economic times.

    In my view, it is not. In its current form, vulnerable communities continue to foot the bill for various challenges confronting Eskom, including financial mismanagement, operational inefficiencies, municipal non-payment, and corruption.

    I believe the following steps should be taken.

    Firstly, South Africa should revise its tariff application methodologies so that consumers, especially unemployed and impoverished people, are protected against exorbitant increases.

    Secondly, the National Energy Regulator of South Africa should strengthen its regulations to ensure its compliance and enforcement systems are effective. For example, Eskom should be held accountable when it does not deliver efficient services or mismanages funds, and be transparent about costs associated with its processes. Municipalities should also be held accountable for non-payment and other technical issues they regularly struggle with. Both affect the revenue of the power utility.


    Read more: South Africa’s economic growth affected by mismatch of electricity supply and demand


    Thirdly, the government must make sure that price increases are affordable and don’t hurt the broader economy. It can do this by adjusting its policies to make sure that increases in electricity tariffs are in line with the rate of inflation.

    Fourthly, communities can play a vital role in saving electricity at a household level. This will reduce the country’s overall energy consumption. Furthermore, both small and large businesses should continue to consider alternative energy technologies while implementing energy saving technologies.

    Lastly, the level of free-basic electricity is not sufficient for poor households. Subsidy policies should also be reviewed to allow users access to affordable electricity as their financial situation changes negatively.

    – South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic
    https://theconversation.com/south-africas-36-1-electricity-price-hike-for-2025-why-the-power-utility-eskoms-request-is-unrealistic-240941

    MIL OSI Africa

  • MIL-OSI Asia-Pac: Speech by FS at welcome dinner for Standard Chartered Private Bank Global Family Network 2024

    Source: Hong Kong Government special administrative region

         Following is the speech by the Financial Secretary, Mr Paul Chan, at the welcome dinner for the Standard Chartered Private Bank Global Family Network 2024 today (October 15):Bill (Group Chief Executive, Standard Chartered, Mr Bill Winters), Ben (President, International, Standard Chartered, Mr Benjamin Hung), Mary (Chief Executive Officer, Hong Kong and Greater China & North Asia, Standard Chartered, Ms Mary Huen), distinguished guests, ladies and gentlemen,     Good evening. I am very pleased to join you all at this welcome dinner for Standard Chartered’s inaugural flagship Global Family Network Forum, bringing together influential families from across Asia, the Middle East and Europe.     First of all, I wish to extend our warmest welcome to you all to Hong Kong. You’ve chosen a wonderful time to visit, with the perfect autumn weather gracing our city. International asset and wealth management hub     Hong Kong is Asia’s leading international financial centre and asset and wealth management hub. Just now, Mary has already given you a good idea of the scale of assets under management and the number of family offices in this city. Let me supplement that many asset and wealth management firms are expanding their presence in Hong Kong. They include, of course, Standard Chartered. And no less optimistic are other prominent firms like UBS. Its Chief Executive commented in June this year that Hong Kong might well become the world’s first in the asset management business by 2027.      A world of ultra-high-net-worth families and individuals have gathered in Hong Kong for a good reason. For you can place your wealth, here for good. Unique strengths under “one country, two systems”      Hong Kong, after all, has very strong fundamentals. Our unique strength is the “one country, two systems” arrangement. While being part of China, we preserve all the defining characteristics that make this city unique: practising common law with a judiciary exercising powers independently; maintaining free flow of capital, goods, people and information; a low and simple tax system, and a currency pegged to the US dollar.     As President Xi Jinping made clear on various occasions, this arrangement is here to stay for the long term.Staunch support from the country      Indeed, Hong Kong always enjoys staunch support from the Central Government. Over the years, the central authorities have rolled out highly favourable policies that benefit the city’s progress and advancement. This is well illustrated in our financial market development. In April this year, for instance, the CSRC (China Securities Regulatory Commission) announced a series of measures to boost Hong Kong’s capital market. That included injecting more liquidity into the Southbound Connect with Hong Kong, and supporting leading Mainland enterprises to list on our stock exchange. Now, over 100 such companies are in the queue for listing in Hong Kong. Diverse investment offerings and opportunities      Above all, the prime value proposition of Hong Kong for family offices is the diverse array of investment offerings and opportunities we offer.      Speaking of our stock market, it is home to over 2 600 companies with a capitalisation of over US$4.6 trillion. Over the years, we have engaged in listing reforms, facilitating such companies from the new economy, biotech and hard-tech sectors to list on our stock exchange, and thus enlarging our pool of quality issuers.      No less vibrant is the bond market. Hong Kong ranked first in the world for 16 years in terms of international bond issuance arranged by Asian institutions. Last year, around US$90 billion of such bonds were issued, accounting for about a quarter of the market. We are also the hub for Renminbi bonds, including sovereign bonds issued by the central authorities as well as those by provincial and municipal governments.     Hong Kong offers a wide range of financial products that suit impact investors. For example, as Asia’s leading green finance hub, we have on average issued over US$63 billion in green bonds and debt annually over the past three years, accounting for more than one-third of Asia’s total. Over 230 ESG (environmental, social and governance) funds have been authorised by our Securities and Futures Commission, managing approximately US$170 billion in assets.      A rich array of investment products and professional services are underpinning a burgeoning ecosystem for families and their offices here in Hong Kong. The Government has rolled out a package of policies, including tax concessions to family-owned investment holding vehicles managed by single family offices in the city. This year, we have also established a Network of Family Office Service Providers comprising private banks, accounting and legal firms, trusts and other professional service firms, forming a strong nexus that cater to your needs. Recent rally in our stock market     Speaking of investment, you may have noticed the recent rally in our stock market since the central authorities announced a stimulus package to inject liquidity to the banking sector and to provide more support to the real estate sector. Over this period, we have seen strong net buys from American and European investors, and they constituted some 85 per cent of the buy side by value. In terms of the background of those investors, 90 per cent of them are long-term fund managers and investment banks.     In January this year, when I visited Davos to attend the World Economic Forum, I met some investors and fund managers. The message I got from them then was clear – despite geo-economic fragmentation, the world of international investors remained interested in the opportunities of the Mainland market. They have long been waiting for the right time to invest here. Now, they are seeing the opportunity.      And beyond investors from the US and Europe, there is growing interest from our Middle East friends. For example, later this month, two ETFs (exchange-traded funds) will be listed on the Saudi Exchange for investing in our stock market. Making a lasting impact with Hong Kong      Ladies and gentlemen, most if not all, family offices aim for more than just financial returns. They care about the collective good of our society and the planet.      To promote and support philanthropy endeavours, the annual Wealth for Good Summit held in Hong Kong since last year successfully brought together influential family office owners and decision-makers to explore strategies for effective philanthropy and wealth legacy. We will soon launch an “Impact Link” platform to foster the connection between family offices and high-potential, high-social impact philanthropy programmes.     There is also one important dimension of impact investing that I should not miss: innovation and technology. We are home to a vibrant, energetic and promising innovation circle, with many innovators from around the world who gather in Hong Kong, acting to change the world for the better, in AI (artificial intelligence), biotech, green tech, and many more areas. Many of these start-ups are based in our two innovation flagships, the Science Park and Cyberport. They have a global vision, and present valuable opportunities for investment. For instance, one start-up from Science Park has developed geospatial and sensory technologies for precision farming, helping farmers around the world to increase crop yield. Another start-up has developed 3D-printed reef tiles to help restore coral reefs and thus increase regional carbon sequestration capacity. The firm has now expanded to the Middle East.Closing remarks     Ladies and gentlemen, in a nutshell, Hong Kong is where you can conserve and grow your wealth across generations. I believe the speakers at the forum tomorrow will further enlighten us with their valuable insights.      For now, please enjoy this good evening, and I wish you all a rewarding event tomorrow and an enjoyable experience in Hong Kong. Thank you very much. 

    MIL OSI Asia Pacific News

  • MIL-OSI Africa: GITEX Editions makes its debut to redefine global power tech domination

    Source: Africa Press Organisation – English (2) – Report:

    DUBAI, United Arab Emirates, October 15, 2024/APO Group/ —

    The all-new GITEX Editions got underway on the opening day of GITEX GLOBAL (www.GITEX.com) as discussions focused on accelerating the growth of global late-stage advanced tech companies.

    The latest addition to the packed schedule comes at a vital time where statistics (https://apo-opa.co/3Ab4gaZ) showed there were more than 1,000 unicorns around the world in 2023. This week’s showcase will help support the next development while bringing together 59 top global unicorns with a combined valuation of $400 billion. The impressive list to have gathered includes Axelera, DeepL Synthesis AI, and Insilico Medicine.

    In one of the sessions, the Founder and CEO of digital health unicorn Insilico Medicine, Dr. Alex Zhavoronkov joined Tamer Elhamy, Chief Partner Officer of Microsoft Middle East to discuss the importance of Merger and Acquisitions (M&A) and how AI companies are making their foundational models work smarter for enterprises.

    The audience heard that the Middle East region is leading the way with digitalisation with more than 300 deals related to M&A completed in the first half of 2024 with half of those led by the UAE.

    Scaling GCC business globally

    The staging of GITEX Editions aligns with Dubai’s ambition to be the home of 30 startup unicorns by 2030 as the emirate continues to transform itself from a regional to a global entrepreneurship hub and support its digital ambitions. Today, Dubai is embarking on its journey with 40% of MENA’s scaleups already based in the emirate (https://apo-opa.co/3Y7Y3EF).

    To help nurture the growth of tomorrow’s giants in the GCC region, Harrison Lung, Group Chief Strategy Officer of e& was joined by Tanuja Randery, Managing Director, Europe, Middle East and Africa of Amazon Web Services (AWS) in an insightful session that focused on the importance of collaboration.

    Harrison Lung explained the importance of joining hands to forge stronger alliances. He said: “For us, it’s more about a transformation towards a global technology company. In the areas of partnering, the idea is to develop a win-win proposition and solving the needs of customers.”

    With the region growing rapidly, Tanuja Randery said there is no better time than now for companies to enter the market and agrees collaboration is crucial. She said: “This region is so attractive in terms of the growth potential. I read a stat that showed that almost 70 per cent of businesses in the Middle East want to move most of their operations to the Cloud in two years’ time and this could unlock USD $733 billion of economic value by 2033. To make Cloud make accessible, we need partners and alliances.”

    Driving investments for startups

    Funding is a key pillar to drive growth – both in the long and short-term but can be often challenging. Steven Hoffman, Venture Investor, Author; and Chairman & CEO of Founders Space, gave key advice on how startups should adopt a vertical growth strategy for the future.

    He said: “There is a lot of money going into AI but most of that is going into a handful of companies which are dominating the market and this is impacting the growth of startups. As such, a lot of money is now going into vertical AI where the specialist area is only on one focus such as healthcare or hospitality and this is centred around this business model and adding AI on top of this.”

    In another session, Kai Zenner, Head of Office & Digital Policy Advisor of EU Parliament and Dr. Agostino Ghiglia, Board Member of the Italian Data Protection Authority took part in a broader discussion on the AI EU Act and its global implications for the next generation of AI-driven unicorns.  

    Taking place at Dubai World Trade Centre (DWTC) until 18 October, GITEX GLOBAL presents its biggest, most international edition in its 44th year, welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.

    GITEX GLOBAL is seamlessly connecting the world’s largest network of tech events. Today, major events such as GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX NIGERIA are under its umbrella with all fostering collaboration and driving innovation to shape the tech landscape of tomorrow.

    MIL OSI Africa

  • MIL-OSI Banking: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    Source: Huawei

    Headline: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    [Dubai, UAE, October 15, 2024] During GITEX Global 2024, Huawei unveiled its Intelligent Stadium Solution at a forum themed AI Enables Smart Building Upgrade. The solution is intended for facilitating digital and intelligent transformation of stadium campuses. At the forum, Huawei discussed with business elites, industry experts, and leading partners how to seize tremendous opportunities that AI brings and use digital and intelligent technologies to lead industry development.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU, delivered a speech at the forum. He said that Huawei aims to become the preferred partner for digital and intelligent transformation in the Middle East’s real estate industry by advancing technologies, leveraging experience, and developing the industry ecosystem. “Looking toward the future, Huawei will continue to integrate smart technology into industries by acting as a bridge and an amplifier. We are committed to expanding our industry knowledge and delivering better services to global customers and partners. Eventually, we will bring intelligence to the Middle East and the world,” said Mr. Liu.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU

    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept, mentioned in his speech that the building industry’s digital journey has just begun, but it holds enormous potential for the future. He also emphasized that AI will bring buildings and campuses into an era of intelligence, transforming the management and operational models of an intelligent campus. “Huawei advocates using ICTs to redefine the campus. We have been leveraging the advantages of our product portfolios to redefine campus connectivity, platform, and business, helping global customers build digital and intelligent campuses,” said Eric Li.
    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept

    Viga Liu, Director of Huawei’s Intelligent Campus Marketing & Solution Sales Dept, delivered a keynote speech at the forum. He believes that AI is enabling buildings and campuses to go digital, intelligent, green, and low-carbon at a faster pace. According to Viga Liu, Huawei has developed pioneering solutions such as Campus Service Network and Campus Digital Platform. “We have collaborated with our partners to assist over 1000 customers worldwide in building 10 Gbps, digital, and green intelligent campuses, including office campuses, stadium campuses, and commercial complexes.”
    Ahmad Bana, the Center of Excellence Manager at Waseef, an asset management company from Qatar, shared Waseef’s experience with digital and intelligent transformation of networks in employee apartments. Huawei’s Intelligent Campus Solution adopts a flat optical fiber architecture, which allows Waseef to save 80% of IT equipment room footprint and cabling space, as well as achieve more intelligent network O&M and more flexible bandwidth upgrades. Moreover, this architecture contributes to a green network that is future-proof for 30 years, provision of additional services, asset appreciation, and project success.
    OODA World, a global software vendor headquartered in France, specializes in delivering innovative software solutions for different industries. Méliné EOLMEZIAN-SOULIE, Vice President of Public Safety and Strategic Partner Ecosystem, highlighted that OODA’s Physical Security Information Management (PSIM) platform utilizes distinctive 3D native and real-time data visualization and command & control technologies to implement real-time situation awareness, automatic workflows, and centralized incident management. She said OODA will collaborate with Huawei to build campuses that are more intelligent.
    Techno Q, a system integrator from Qatar, participated in the forum. Saad Afzal, the Head of Solutions Architecture at Techno Q, stated in his speech that smart building solutions, based on data convergence and system integration, can unlock the value of data and provide targeted use cases for areas such as energy efficiency management, predictive maintenance, asset management, operational efficiency, and subscription-based value-added services. This can provide customers with enhanced user experience, reduce security risks, and improve management efficiency.
    Neuxnet, headquartered in Singapore, is dedicated to helping customers go digital and intelligent. According to Eric Yang, the Vice President of Product and Marketing at Neuxnet, stadiums are evolving toward being diversified, integrated, and intelligent, providing spectators with a spectacular experience before, during, and after sports events through various new technologies and applications. “By offering functions such as smart parking, navigation, ticketing services, and one-stop customer services, Neuxnet provides efficient management tools for stadium operators, and helps them create dynamic, technologically advanced, and sustainable sports stadiums,” said Eric Yang.
    Official release of the Intelligent Stadium Solution

    At the end of the forum, Huawei officially released its Intelligent Stadium Solution. Looking ahead, Huawei will continue to work with partners to help customers implement top-notch security assurance, operations management, communications assurance, spectating experience, and service experience, as well as innovate in management and service models, delivering brand-new sports stadium experiences in the digital and intelligent era.

    MIL OSI Global Banks

  • MIL-OSI Economics: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    Source: Huawei

    Headline: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    [Dubai, UAE, October 15, 2024] During GITEX Global 2024, Huawei unveiled its Intelligent Stadium Solution at a forum themed AI Enables Smart Building Upgrade. The solution is intended for facilitating digital and intelligent transformation of stadium campuses. At the forum, Huawei discussed with business elites, industry experts, and leading partners how to seize tremendous opportunities that AI brings and use digital and intelligent technologies to lead industry development.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU, delivered a speech at the forum. He said that Huawei aims to become the preferred partner for digital and intelligent transformation in the Middle East’s real estate industry by advancing technologies, leveraging experience, and developing the industry ecosystem. “Looking toward the future, Huawei will continue to integrate smart technology into industries by acting as a bridge and an amplifier. We are committed to expanding our industry knowledge and delivering better services to global customers and partners. Eventually, we will bring intelligence to the Middle East and the world,” said Mr. Liu.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU

    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept, mentioned in his speech that the building industry’s digital journey has just begun, but it holds enormous potential for the future. He also emphasized that AI will bring buildings and campuses into an era of intelligence, transforming the management and operational models of an intelligent campus. “Huawei advocates using ICTs to redefine the campus. We have been leveraging the advantages of our product portfolios to redefine campus connectivity, platform, and business, helping global customers build digital and intelligent campuses,” said Eric Li.
    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept

    Viga Liu, Director of Huawei’s Intelligent Campus Marketing & Solution Sales Dept, delivered a keynote speech at the forum. He believes that AI is enabling buildings and campuses to go digital, intelligent, green, and low-carbon at a faster pace. According to Viga Liu, Huawei has developed pioneering solutions such as Campus Service Network and Campus Digital Platform. “We have collaborated with our partners to assist over 1000 customers worldwide in building 10 Gbps, digital, and green intelligent campuses, including office campuses, stadium campuses, and commercial complexes.”
    Ahmad Bana, the Center of Excellence Manager at Waseef, an asset management company from Qatar, shared Waseef’s experience with digital and intelligent transformation of networks in employee apartments. Huawei’s Intelligent Campus Solution adopts a flat optical fiber architecture, which allows Waseef to save 80% of IT equipment room footprint and cabling space, as well as achieve more intelligent network O&M and more flexible bandwidth upgrades. Moreover, this architecture contributes to a green network that is future-proof for 30 years, provision of additional services, asset appreciation, and project success.
    OODA World, a global software vendor headquartered in France, specializes in delivering innovative software solutions for different industries. Méliné EOLMEZIAN-SOULIE, Vice President of Public Safety and Strategic Partner Ecosystem, highlighted that OODA’s Physical Security Information Management (PSIM) platform utilizes distinctive 3D native and real-time data visualization and command & control technologies to implement real-time situation awareness, automatic workflows, and centralized incident management. She said OODA will collaborate with Huawei to build campuses that are more intelligent.
    Techno Q, a system integrator from Qatar, participated in the forum. Saad Afzal, the Head of Solutions Architecture at Techno Q, stated in his speech that smart building solutions, based on data convergence and system integration, can unlock the value of data and provide targeted use cases for areas such as energy efficiency management, predictive maintenance, asset management, operational efficiency, and subscription-based value-added services. This can provide customers with enhanced user experience, reduce security risks, and improve management efficiency.
    Neuxnet, headquartered in Singapore, is dedicated to helping customers go digital and intelligent. According to Eric Yang, the Vice President of Product and Marketing at Neuxnet, stadiums are evolving toward being diversified, integrated, and intelligent, providing spectators with a spectacular experience before, during, and after sports events through various new technologies and applications. “By offering functions such as smart parking, navigation, ticketing services, and one-stop customer services, Neuxnet provides efficient management tools for stadium operators, and helps them create dynamic, technologically advanced, and sustainable sports stadiums,” said Eric Yang.
    Official release of the Intelligent Stadium Solution

    At the end of the forum, Huawei officially released its Intelligent Stadium Solution. Looking ahead, Huawei will continue to work with partners to help customers implement top-notch security assurance, operations management, communications assurance, spectating experience, and service experience, as well as innovate in management and service models, delivering brand-new sports stadium experiences in the digital and intelligent era.

    MIL OSI Economics