Source: US Federal Deposit Insurance Corporation FDIC
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Category: Commerce
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MIL-OSI USA: Statement by Vice Chairman Travis Hill on Board Merger and Deposit Insurance Application Review Process
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MIL-OSI USA: October 17th, 2024 JEC Chairman Martin Heinrich Hosts “Pro-Worker, Pro-Business Opportunities” Roundtable
US Senate News:
Source: United States Senator for New Mexico Martin Heinrich
PHOTOS & VIDEO
Heinrich highlights how federal legislation is expanding pathways to in-demand jobs in New Mexico
ALBUQUERQUE — U.S. Senator Martin Heinrich (D-N.M.), Chairman of the U.S. Joint Economic Committee (JEC), hosted a “Pro-Worker, Pro-Business Opportunities” roundtable to talk directly with New Mexicans about how federal legislation he helped pass into law is creating careers in high-demand sectors and strengthening New Mexico’s health care, skilled trades, early childhood education, and union workforce.Heinrich Hosts “Pro-Worker, Pro-Business Opportunities” Roundtable on October 17, 2024.
“The manufacturing and clean energy renaissance driven by historic investments from the Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act is creating career opportunities across New Mexico. We need to build on this momentum by expanding access to apprenticeships, supporting new, high-quality jobs in the building and skilled trades, growing pathways to health care careers, and strengthening our early childhood education workforce. I will continue fighting to address workforce shortages, build the middle class, grow our economy, and provide more New Mexicans with the careers they can build their families around in their home communities,” said Heinrich.
Thanks to recently enacted legislation that Heinrich helped pass into law, like the Inflation Reduction Act and Infrastructure Law, New Mexico is now at the center of a clean energy “manufacturing renaissance,” which is creating hundreds of jobs in New Mexico that people can build their families around.
Heinrich discussed his work with community leaders to create more pathways to in-demand careers, including through jobs training and registered apprenticeship and pre-apprenticeship programs. He also highlighted the success of the domestic manufacturing tax credits in the Inflation Reduction Act and CHIPS and Science Act that have expanded clean energy and semiconductor manufacturing in New Mexico.
Through his role as Chairman of the U.S. Joint Economic Committee (JEC), Heinrich has held hearings on job training in the clean energy sector, the domestic boom in manufacturing, and investing in early childhood education. Heinrich has also released reports on growing registered apprenticeship programs, job training for the clean energy transition, the manufacturing renaissance, addressing rural health worker shortages, the economic benefits of early childhood education, employing women in the clean energy sector, and growing the labor force in New Mexico.
Heinrich has long been committed to creating new pathways to careers for New Mexicans in the communities where they grew up, while tackling shortages in in-demand sectors like health care and early childhood education.
Heinrich introduced the Apprenticeship Pathways Act, legislation to create pathways to careers for high school students by expanding access to apprenticeship programs for occupations with high need, including the building trades, healthcare, manufacturing, technology, telecommunications, and early childhood education.
Earlier this year, Heinrich introduced the Pre-Apprenticeships To Hardhats (PATH) Act, legislation to strengthen the pipeline for careers in New Mexico, address rising workforce shortages, and grow the state’s economy through quality pre-apprenticeship programs.
In March, Heinrich introduced the Providing Resources and Opportunities for Health Education and Learning (PRO-HEAL) Act, legislation that will tackle the health care provider shortage in New Mexico and nationwide by expanding pathways to high-quality, in-demand health care careers that medical professionals can access in their communities. Specifically, the PRO-HEAL Act addresses medical provider shortages by incentivizing states and institutions of higher education to expand or create health care provider pipeline programs, particularly in underserved and rural communities. The legislation is inspired by the success of the Combined BA/MD Degree Program at the University of New Mexico, where over 65% of students who have graduated from their program practice medicine in New Mexico.
Last year, Heinrich introduced the Pathways to Health Careers Act, legislation that reauthorizes and modernizes the Health Profession Opportunity Grant (HPOG) program to help address health care shortages in New Mexico and across the country and create pathways to high-quality, in-demand health care careers.
The HPOG program has a proven track record of successfully educating workers for jobs in the health care industry, while also providing career coaching, job placement, and a mix of other support services. The Pathways to Health Careers Act would restart and expand the HPOG Program, providing $425 million to make HPOG available nationwide from FY2024 through FY2028 and includes set asides for Tribes and U.S. Territories.
In 2021, Heinrich introduced the Championing Apprenticeships for New Careers and Employees in Technology (CHANCE in Tech) Act, legislation to create earlier pathways to high-paying careers in the information technology (IT) industry.
Investments in Clean Energy and Advanced Manufacturing:
Heinrich has been fighting hard to pass legislation and secure investments that are growing the state’s economy, building the middle class, and expanding high-quality jobs New Mexicans can build their families around.
In 2022, Heinrich helped author and pass into law the landmark Inflation Reduction Act,which has created a manufacturing renaissance in the state and established New Mexico at the center of the nation’s clean energy future. Heinrich marked the two-year anniversary of the legislation being signed into law in August, highlighting how its incentives have expanded and spurred a number of new clean energy projects across New Mexico.
Earlier this year, Heinrich highlighted $20 million from the Inflation Reduction Act for Pajarito Powder to scale production of components for electrolyzers and fuel cells. Heinrich invited the U.S. Secretary of Energy Jennifer Granholm to tour the facilities of Pajarito Powder in Albuquerque, N.M.
In June, the N.M. Delegation welcomed $23.9 million from the CHIPS and Science Act for SolAero, an Albuquerque, N.M.-based manufacturing company, to increase its production of compound semiconductors for spacecraft and satellites, as part of an expansion and modernization of their facility. Heinrich, Luján, and Stansbury, along with Governor Michelle Lujan Grisham and Albuquerque Mayor Tim Keller, welcomed U.S. Deputy Secretary of Commerce Don Graves and White House CHIPS Coordinator Ryan Harper to New Mexico to highlight this investment.
In April, Heinrich and Luján welcomed Energy Secretary Granholm to break ground on a new 216,000-square-foot Array Technologies manufacturing campus — a $50+ million investment located on Albuquerque’s Westside — which will employ over 300 additional New Mexicans to facilitate the production, assembly, design, engineering, and customer service of solar tracking technology.
That same day, Heinrich, Granholm, and Vasquez participated in a ribbon-cutting ceremony celebrating the production of the first wind towers coming off the Arcosa Wind Towers manufacturing line. The ribbon-cutting ceremony came nearly nine months after Heinrich welcomed President Biden to the Belén manufacturing facility — a $60 million investment that will have a $314 million economic impact and create 250 jobs in the region. -
MIL-OSI USA: Casey Announces More than $18.4 Million for Workforce Development, Community Revitalization in Pennsylvania Coal Communities
US Senate News:
Source: United States Senator for Pennsylvania Bob Casey
Recipient
Grant
Project
Bedford County Development Association
$498,840
Bedford County Business Park II -Site Preparation
Bedford County Technical Center
$50,000
Bedford County Technical Center: Expanding Opportunity in Coal Impacted Appalachia
Catalyst Connection
$2,000,000
Pennsylvania Career Pathways to Advanced Manufacturing: “Forging Your Future”
Center for Employment Opportunities
$50,000
Transitional Employment for Justice Impacted Pittsburgh Residents
Center for Population Health
$751,057
Growth of Community Health Workers inCambria/Somerset Counties, Pennsylvania
Corry Community Development Corporation D/B/A Impact Corry (nonprofit)
$887,000
Corry City Center Trail Link
Enterprise Development Center of Erie County, Inc.
$2,000,000
Ironworks Square: Smart Redevelopment in Coal Impacted Regions
Greene County Commissioners
$50,000
Greene County Barriers to Workforce Study
IUP Research Institute
$452,326
NWPAMade — Galvanizing and empowering the region’s creative economy
JARI Growth Fund, Inc.
$1,000,000
Startup Alleghenies Ecosystem Capital and Technical Assistance Expansion – Capital
JARI Growth Fund, Inc.
$879,253
Startup Alleghenies Ecosystem Capital and Technical Assistance Expansion- Technical Assistance
Jewish Healthcare Foundation
$1,990,867
Revitalizing Community Jobs—Building, Training and Supporting the Frontline Workforce for Nursing Homes in Pennsylvania
Lycoming County
$1,867,395
Susquehanna River Walk Extension Trail Construction Project
O.S. Johnson Technical Institute
$50,000
Planning for Vehicle Maintenance Technology Jobs of the Future
Office of Child Development, University of Pittsburgh
$49,751
Two-Generational Literacy to Strengthen the Workforce Pipeline
Pittsburgh Robotics Network (PRN)
$750,000
Maturing Appalachia’s Robotics Workforce
Saint Vincent College (SVC)
$662,672
Equipment and Technology for a Nursing Education and Lab Facility at Saint Vincent College
Screen Arts Institute
$400,000
The Broadcast Arts Initiative
The ClearWater Conservancy of Central Pennsylvania, Inc.
$2,000,000
ClearWater Community Conservation Center Ecotourism, Agritourism, and Agribusiness Hub
The University of Scranton
$1,321,980
The University of Scranton: Technology Driven Transformation in Workforce Development and Innovation
Westmoreland Hospital
$769,193
Building an Innovative Nursing Workforce Model: Bridging the Gap from Student to Expert
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MIL-OSI Security: Jefferson City Man Sentenced for $26 Million Bank Fraud Scheme
Source: Office of United States Attorneys
JEFFERSON CITY, Mo. – A Jefferson City, Mo. man was sentenced in federal court today for a multi-million dollar bank fraud scheme that included fraudulent Paycheck Protection Program (PPP) loans for four businesses.
Tod Ray Keilholz, 61, was sentenced by U.S. District Judge Roseann A. Ketchmark to a total sentence of 12 years in federal prison without parole.
On March 28, 2024, Keilholz pleaded guilty to one count of bank fraud, one count of money laundering, and one count of aggravated identity theft.
Keilholz was the sole owner of TRK Construction, LLC, TRK Valpo, LLC, TL Builders, LLC, and Project Design, LLC.
By pleading guilty, Keilholz admitted that he engaged in a bank fraud scheme from Jan. 1, 2018, to Jan. 7, 2021.
Prior to the bank fraud scheme, Keilholz obtained three business loans totaling $3,526,771 from Hawthorn Bank between Aug. 31, 2017, and Sept. 21, 2018. One of these loans financed the purchase of property in Valparaiso, Indiana. As Keilholz’s businesses failed, these loans fell into default and sub-contractors sued him for unpaid invoices during 2019 and 2020. In February 2020, Hawthorn Bank initiated foreclosure proceedings. Keilholz delayed the foreclosure proceedings and paid off these loans and other past due debts with fraudulent PPP loans.
The CARES Act established several new temporary programs and provided for the expansion of others to address the COVID-19 pandemic. Among these programs, the PPP authorized forgivable loans, guaranteed by the Small Business Administration, to small businesses to retain workers and maintain payroll, make mortgage interest payments, lease payments, and utility payments.
Keilholz received a total of $12,430,932 in PPP loans for his four businesses. In each of those loan applications, Keilholz admitted, he failed to disclose his ownership in the other three businesses, and made materially false and fraudulent claims in the loan applications and supporting documentation. Keilholz falsely stated the businesses were in operation on Feb. 15, 2020, and eligible for PPP loans. He inflated the income of those businesses and claimed payrolls for employees who did not exist or no longer worked for him. Additionally, Keilholz applied for a $7,818,705 PPP loan for TRK Valpo but the loan was denied by the bank.
Keilholz received a $1,706,260 PPP loan for TRK Construction, a $3,618,815 PPP loan for TL Builders, a $3,903,857 PPP loan for Project Design, and a $3,202,000 PPP loan for TRK Valpo.
Keilholz admitted that he used PPP loan proceeds for unauthorized purposes other than legitimate payroll, lease and mortgage interest, and utilities as required by the PPP. Keilholz, through TRK Construction, had accrued substantial and delinquent indebtedness to a number of lenders, and all or part of these debts were satisfied by PPP loan proceeds.
The conviction for aggravated identity theft is related to Keilholz’s use of a former TRK Construction employee whose name and Social Security number were used without his knowledge or authorization on wage reports in connection with a fraudulent PPP loan application for TRK Valpo.
Under the terms of his plea agreement, Keilholz must forfeit to the government any property involved in, or derived from the proceeds of his bank fraud scheme, including a money judgment of $12,430,932, two properties in Jefferson City, one property in Valparaiso, one property in La Porte, Ind., four vehicles (a 2020 Chevrolet Silverado, two 2021 Chevrolet Silverados, and a 2019 BMW X5), a 2020 John Deer ZTrak, a 2020 John Deere Tractor, a Kubota Compact Track Loader, a Gents 43mm IWC Schaffhausen Perpetual Chronograph wristwatch, two Gents stainless steel Rolex Sea-Dweller self-winding automatic diver’s watches, and a Gents Citizen Eco-Drive Radio-controlled world time self-winding automatic watch with sapphire crystal.
This case was prosecuted by Assistant U.S. Attorney Michael S. Oliver. It was investigated by the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Office of Inspector General; the Small Business Administration, Office of Inspector General; the Treasury Inspector General for Tax Administration; the FBI; and IRS-Criminal Investigation.
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MIL-OSI USA: Klobuchar Completes Visits to All 87 Counties in 2024
US Senate News:
Source: United States Senator Amy Klobuchar (D-Minn)
MINNESOTA – With stops today in three remaining counties: Aitkin (American Peat Manufacturing); Carlton (local airport), and Kanabec (Lakes & Pines Community Action Council), U.S. Senator Amy Klobuchar has once again visited every one of Minnesota’s 87 counties in one year.
“The best way for me to do my job is by listening to the people of Minnesota and getting things done for them,” said Klobuchar. “That’s why every year I meet with Minnesotans all over our state and discuss what we can get done together. From expanding child care and housing to supporting local businesses, I’m committed to taking action on the issues that matter most.”
Today, Klobuchar toured American Peat Technology in Aitkin and then went to the Cloquet Airport in Carlton County which is developing a new storage hanger thanks to federal funding. Klobuchar ended the day in Mora and visited the Lakes and Pines Community Action Council.
This year, Klobuchar’s stops included:
1. Aitkin
• Toured American Peat Technology and met with their leadership team.2. Anoka
• Gave remarks at the USA Cup Opening Ceremony in Blaine.
• Attended the 43rd annual Game Fair and discussed conservation policy with Ron Schara.
• Participated in Coon Rapids 4th of July Festivities.
• Attended the Blaine Festival.3. Becker
• Led a child care discussion and toured the Boys & Girls Club of Detroit Lakes LEAP Preschool.4. Beltrami
• Led a breakfast discussion with Bemidji City and Beltrami county and tribal leaders.
• Spoke at the dedication ceremony of the new Bemidji Veterans Home, toured it with veterans, and met with Red Lake Band Members.5. Benton
• Toured SNX Technologies Inc. and met with their leadership.6. Big Stone
• Discussed agriculture with local farmers while touring Anne Schwagerl’s farm.7. Blue Earth
• Visited Mankato in the aftermath of severe flooding with Mankato mayor and Representative Finstad.
• Met with family and friends of Sergeant Cade Wolfe.8. Brown
• Attended the community celebration at the Pheasant Opener in Sleepy Eye and spoke at the Pheasants Forever land dedication.
• Toured the New Ulm Airport’s recent upgrades and met with local leaders.9. Carlton
• Toured the new Cloquet airport hangar with airport leadership and the Cloquet mayor.10. Carver
• Led a discussion with the City of Chaska mayor and public safety leadership about their Emergency Operations Center project.
• Toured the town of Carver with the mayor in the aftermath of severe flooding.
• Attended the Highway 212 Groundbreaking Ceremony.
• Spoke to veterans at the Chanhassen Memorial Day event.11. Cass
• Led a community discussion with the Walker mayor and local business leaders.12. Chippewa
• Spoke with veterans and toured the new Montevideo Veterans Home.13. Chisago
• Discussed regional tourism and toured the Franconia Sculpture Park.14. Clay
• Celebrated the launch of the federally funded Moorhead 11th Street Underpass project.
• Attended the Reimagine Romkey Park event.15. Clearwater
• Toured TEAM Industries and met with their leadership.16. Cook
• Visited the North Shore Winery and Coho Cafe.17. Cottonwood
• Toured Red Rock Rural Water Treatment Center and visited with local leaders.18. Crow Wing
• Met with the mayor and city leadership about the Highway 210 expansion in Brainerd.
• Toured the new YMCA child care center.19. Dakota
• Gave remarks at the Kaposia Library opening in South Saint Paul.
• Met with Burnsville first responders.
• Attended the opening ceremony of the Veterans Memorial Greenway in Inver Grove Heights.
• Met with law enforcement and community leaders in Hastings to highlight the Cooper/Davis Act that requires social media to alert authorities when controlled substances are being distributed illicitly on their platforms.
• Attended an event in Inver Grove Heights to highlight the new Criminal Justice Network for Minnesota law enforcement.
• Led the Survivor March and delivered remarks at the Susan G. Komen 32nd Annual Race for the Cure in Eagan.20. Dodge
• Met with the owner and toured Chaotic Good Brewery in Kasson.21. Douglas
• Led a discussion at the Alexandria YMCA about their child care program.22. Faribault
• Met with leadership and toured Winnebago Manufacturing in Blue Earth.23. Fillmore
• Toured Harmony Enterprises manufacturing facility and their child care center.
• Toured the new Preston State Veterans Home and met with veterans.24. Freeborn
• Led a discussion and toured the Freeborn/Mower Electric Cooperative in Albert Lea.25. Goodhue
• Met with students and school leadership to hear about the Red Wing Flight Path workforce training program.
• Spoke at the 50th Anniversary Jaunt With Jim bike ride in Cannon Falls.26. Grant
• Toured the West Central High School Greenhouse and the Central Lakes College’s mobile meat cutting trailer and met with FFA students and their instructors.27. Hennepin
• Attended the annual MLK Breakfast.
• Delivered remarks at the Asia Mall Lunar New Year celebration in Bloomington.
• Delivered Remarks at the MN Newspaper Association Convention.
• Met with officers at the Minneapolis Second Precinct Station.
• Convened a meeting with the Metropolitan Airport Commission leadership to hear updates on aviation safety and passenger experience.
• Delivered remarks at the Stand with Ukraine Two Year Commemoration event.
• Spoke at the Annual Parkinson’s Foundation Walk in Plymouth.
• Delivered remarks at the Celebrating the Sistas Awards Ceremony and presented the Icon Award honoring Laysha Ward.
• Delivered remarks at the MN Ovarian Cancer Alliance Gala.
• Visited Woodlake Nature Center in Richfield and met with staff.
• Spoke at the 78th Annual Paralyzed Veterans of America National Convention.
• Participated in the groundbreaking event for the St. Louis Park Cedar Lake Road Reconstruction project.
• Spoke at the Annual Somali Independence Day Street Festival.
• Delivered remarks at the Hazelden Betty Ford Foundation 75th Anniversary Gala.
• Toured the I-494 construction site and met with local project leaders in Bloomington.
• Attended the Minnesota Business Partnership Annual Dinner.
• Attended the Twin Cities Pride Parade and Festival in Minneapolis.
• Honored the Legendary Cornbread Harris at an event with his son Jimmy Jam.
• Attended Champlin Father Hennepin Festival.
• Convened a meeting with the Metropolitan Airport Commission leadership to hear updates on aviation safety and passenger experience.
• Attended the Charles Lindbergh Richfield Post Office Dedication Ceremony.
• Presented the Spirit of Hospitality Award at the Bloomington Travel and Tourism Diamond Service Awards Gala.
• Attended the Niron opening and met with local businesses and Shakopee Band investors.28. Houston
• Led a discussion with leadership and toured the Houston County airport in Caledonia.29. Hubbard
• Toured a workforce housing development and met with local leaders.30. Isanti
• Toured the North Star Child and Family Advocacy Center in Braham.31. Itasca
• Met with leadership and toured the KOOTASCA Child Care Hub.32. Jackson
• Met with first responders to discuss the new EMS telemedicine ambulance in Jackson.33. Kanabec
• Toured the Lakes and Pines Community Action Council and visited with leaders.34. Kandiyohi
• Toured the Life Link III Air Base at Willmar Municipal Airport.
• Attended the four lane Highway 23 completion celebration.35. Kittson
• Met with owners and toured Far North Distillery.36. Koochiching
• Met with the team at the Voyageurs National Park Headquarters.37. Lac qui Parle
• Toured PURIS Plant-Based Protein manufacturing facility and met with leadership.38. Lake
• Visited the iconic Betty’s Pies in Two Harbors.39. Lake of the Woods
• Met with county leadership about their new water safety equipment.40. Le Sueur
• Led a discussion with the Le Sueur Sheriff and other local leaders and toured the department.
• Viewed the flood damage and met with leadership in Waterville about federal assistance.41. Lincoln
• Led a discussion at Lyon-Lincoln Electric Co-Op with their leadership.42. Lyon
• Visited the farm of Carolyn and Jonathan Olson in Cottonwood.43. McLeod
• Participated in the Winsted Post Office Rededication Ceremony to James A. Rogers, Jr.44. Mahnomen
• Toured the White Earth Nation College with Chairman Fairbanks and members of the Tribal Council.45. Marshall
• Toured North Valley Health Center Community Hospital in Warren.46. Martin
• Toured the CHS soybean processing facility in Fairmont.47. Meeker
• Toured the Doosan Bobcat manufacturing plant and met with leadership in Litchfield.48. Mille Lacs
• Met with the owner and enjoyed breakfast at the Bee Cafe in Milaca.49. Morrison
• Delivered remarks at the Memorial Day program at the Minnesota State Veterans Cemetery in Little Falls.
• Met with the mayor and area leadership to discuss the Little Falls bridge project.50. Mower
• Led a discussion and toured the Hormel Foods child care center in Austin.
• Attended the I-90 bridge project groundbreaking ceremony in Austin.51. Murray
• Met with the owners and got a tour of Painted Prairie Vineyard in Currie.52. Nicollet
• Toured KATO Engineering and met with leadership in North Mankato.
• Delivered remarks and presented the Purple Heart at a ceremony honoring Corporal Earl Meyer in St. Peter.53. Nobles
• Met with CEDA and county officials to discuss child care projects and solutions in Worthington.
• Toured the Highway 59 federally funded street project with Worthington leadership.54. Norman
• Convened a meeting with Norman County leadership to discuss the West Central Regional Water District project.55. Olmsted
• Delivered remarks at the Minnesota Police and Peace Officers Association Annual Legislative Conference in Rochester.
• Attended the Memorial Day Rochester Honkers game.
• Toured the Mayo Clinic’s new Kellen building.
• Delivered remarks at the Soldier’s Field Aquatic Center improvements opening ceremony.
• Led a discussion with county leadership and law enforcement about efforts to combat illegal fentanyl use in Rochester.56. Otter Tail
• Met with leadership from Pioneer Kids Child Care and toured the facility in Fergus Falls with Fergus Falls Chamber of Commerce members.57. Pennington
• Visited Northern Woodwork Inc. in Thief River Falls.
• Met with city and business leadership at Rivers and Rails Brewing Company.58. Pine
• Toured Pine Technical & Community College and met with leadership.59. Pipestone
• Met with local leaders at the Pipestone Airport to discuss improvement plans.60. Polk
• Met with child care and city leaders at the Prairie Pines Child Care Center in Fosston.61. Pope
• Met with staff and toured Clyde Machines in Glenwood with the mayor and Pope County leadership.62. Ramsey
• Toured PAR Systems in Shoreview.
• Delivered remarks at the St. Paul Firefighters Local 21 Installation celebration.
• Gave welcome remarks at the Thai Songkran Festival opening ceremony.
• Delivered remarks at the Official State Memorial Day event at Fort Snelling.
• Spoke at the Hmong Freedom Festival in St. Paul.
• Hosted Secretary Becerra at the Episcopal Homes Senior Living Center to highlight Medicare drug pricing.
• Hosted tourism event at the Minnesota State Fair in Falcon Heights.
• Toured the Carter Work Project in St. Paul with Habitat for Humanity leadership.
• Delivered remarks at the Military Appreciation Day event at the MN State Fair.
• Spoke at the CLUES Fiesta Latina in St. Paul.
• Toured Delkor Systems in Arden Hills with Ex-Im Bank Director Herrnstadt.
• Led a round table discussion with Ex-Im Bank director and Minnesota business leaders.
• Delivered remarks at the St. Paul Kellogg-Third Street Bridge Construction Kick Off event.
• Attended the Serving Our Troops Event in support of military families.
• Attended St. Paul St. Patrick’s Day festivities.
• Toured the Neighborhood Development Center with Secretary Yellen63. Red Lake
• Led a discussion about the Farm Bill with the Minnesota Wheat Growers Association and Minnesota Barley Growers Association.64. Redwood
• Delivered remarks and met with agricultural leaders at Farmfest.65. Renville
• Toured K&M Manufacturing in Renville and met with employees.66. Rice
• Met local leaders and manufacturers to tour a planned child care facility in Faribault.
• Toured flood damage and met with leadership in Northfield.67. Rock
• Toured the new child care center under construction in Luverne.68. Roseau
• Attended annual Hockey Day Celebration activities in Warroad.69. Saint Louis
• Toured flood damage in downtown Cook with the mayor and local leaders.
• Toured the flash flood damage in Biwabik with the mayor and local leaders.
• Joined Duluth mayor to highlight the success of their flood mitigation projects.
• Visited the Blatnik Bridge to highlight its need for repair.
• Attended Fourth of July festivities in Aurora, Gilbert, Eveleth, Tower, and Ely.
• Presented a flag to the Ely mayor at Ely Memorial High School in commemoration of their 100th Anniversary Celebration.
• Attended Labor Day events in Duluth and Virginia.70. Scott
• Met with Scott County Sheriff leadership, viewed the new rescue equipment, and toured the 911 Dispatch Center in Shakopee.71. Sherburne
• Met with leadership of the Wave Youth Center in Big Lake to tour and discuss their expansion project for middle and high school-aged youth.72. Sibley
• Toured the Heartland Ethanol Plant in Winthrop with company leadership.73. Stearns
• Delivered remarks at the annual St. John’s Boys’ Choir Spring Gala in St. Cloud.
• Spoke at the St. Cloud VA Medical Center 100th Anniversary celebration.
• Toured the St. Cloud Coborn’s with business leadership.74. Steele
• Convened a discussion with Owatonna High School staff and Chamber of Commerce leadership about their Youth Skills Training Program.75. Stevens
• Met with the Chancellor of UMN Morris and toured the campus.76. Swift
• Toured the Swift County Historical Museum in Benson and met with leadership.77. Todd
• Met with company leadership of EnterpriseCP Manufacturing and toured the facility.78. Traverse
• Led a discussion with Browns Valley mayor and fire chief to hear about fire department operations.79. Wabasha
• Toured Pepin Manufacturing Inc. in Lake City.
• Spoke at the Governor’s Fishing Opener Kick-Off in Lake City.80. Wadena
• Met with Central Lakes College leaders to discuss their Butchery Program and federal partnerships.81. Waseca
• Met with staff and toured Winegar Manufacturing in Waseca.82. Washington
• Spoke at the 1st Annual Momentous Music Festival with Brian Mueller in Woodbury, honoring Aimee Muller.
• Attended the Hugo Good Neighbors Day festivities.83. Watonwan
• Visited the farm of Harold Wolle in St. James.84. Wilkin
• Toured CHI St. Francis Health and met with leadership in Breckenridge.85. Winona
• Visited local businesses in Winona with Chamber of Commerce leadership to discuss tourism.86. Wright
• Attended the I-94 West Corridor Coalition Gap Project Groundbreaking Ceremony in Monticello which received federal funds.87. Yellow Medicine
• Met with leadership and visited the Yellow Medicine County Historical Society and Museum.
• Walked the Dave Smiglewski Memorial Trail in Granite Falls with the Smiglewski Family. -
MIL-OSI USA: FEMA Administrator Surveys Virginia Counties and Meets with Survivors and Local Community Officials Recovering from Helene
Source: US Federal Emergency Management Agency
Headline: FEMA Administrator Surveys Virginia Counties and Meets with Survivors and Local Community Officials Recovering from Helene
FEMA Administrator Surveys Virginia Counties and Meets with Survivors and Local Community Officials Recovering from Helene
WASHINGTON — As FEMA Administrator Deanne Criswell continues to lead the federal response to Helene and Milton in six states, today she is in Virginia to meet survivors and local officials as they continue their recovery from Helene.
In Virginia, the administrator visited affected communities with Gov. Glenn Youngkin. Earlier in the week she and North Carolina Gov. Roy Cooper in Buncombe County to speak with disaster survivors and meet staff at a local high school as part of the recovery.
Critical services continue being restored. The Commonwealth of Virginia is focused on debris removal, particularly in lakes that provide the commonwealth a source of drinking water. Removing debris will also reduce threats to public health and safety. In Florida—hit by both storms—power outages have been reduced to about 17,000, down from a peak of 3.2 million. And in North Carolina, approximately 13,000 customers remain without power, down from a peak of about 1 million customers without power.
In total, about 433,000 households have been approved for nearly $619 million in FEMA assistance for their Helene recovery while 61,000 households have received $54 million for Milton. Survivors are using these funds to replace essential items, pay for somewhere to stay and make home repairs.
Hurricane Milton survivors in 34 Florida counties and one Tribal Nation can register for federal disaster assistance. On Oct. 11, President Jospeh R. Biden, Jr., approved a major disaster declaration for Florida following the hurricane. President Biden previously approved federal disaster assistance in six states affected by Helene. This opens up federal help for survivors in designated areas in Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.
In addition, the U.S. Army Corps of Engineers announced the Operation Blue Tarp which is a free service to homeowners. Residents impacted by Hurricane Milton can sign-up at www.blueroof.gov, or by calling 888-ROOF-BLU (888-766-3258). The initial sign-up period is set for 21 days and ends Nov. 5. The Florida counties impacted by Hurricane Milton currently identified for the program include: Brevard, Citrus, Charlotte, DeSoto, Hardee, Hernando, Highlands, Hillsborough, Indian River, Lake, Manatee, Okeechobee, Orange, Osceola, Pasco, Pinellas, Polk, Sarasota, Seminole, St. Lucie, Sumter and Volusia.
FEMA encourages Helene and Milton survivors to apply online as this remains the best way to apply for disaster assistance. Here are the ways to apply for federal assistance:
· Apply online at disasterassistance.gov
· Call 800-621-3362
· Use the FEMA App
· Visit a Disaster Recovery Center to talk with FEMA and state agency officials and apply for assistance
In total, over 8,200 federal personnel—including 4,300 FEMA staff—are in communities in these states supporting the ongoing response and recovery efforts.
These photos highlight response and recovery efforts across states impacted by Helene and Milton.
View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56489″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/51c770e055bfac2bdf77a115b7d1e1e9.jpg?itok=d6OkGMpD” alt=”Caption: Lee County, Va. – A group comprised of staff from the Lee County 911, Virginia Department of Emergency Management, the U.S. Small Business Administration, and FEMA was conducting Preliminary Damage Assessments to survey properties affected by Tropical Storm Helene in September.” class=”image-style-large”>Lee County, Va. – A group comprised of staff from the Lee County 911, Virginia Department of Emergency Management, the U.S. Small Business Administration, and FEMA was conducting Preliminary Damage Assessments to survey properties affected by Tropical Storm Helene in September. View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56511″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/0ac80a360274e00254b29ac8e241b18a.jpg?itok=d3rO453K” alt=”Caption: Burnsville, N.C. – FEMA Administrator Deanne Criswell and North Carolina Governor Roy Cooper visit the Pensacola Volunteer Fire Department to talk with staff and disaster survivors.” class=”image-style-large”>Burnsville, N.C. – FEMA Administrator Deanne Criswell and North Carolina Governor Roy Cooper visit the Pensacola Volunteer Fire Department to talk with staff and disaster survivors. View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56462″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/7037f02841813c689a6e8dc2d71c40b7.jpg?itok=p12cSWX5″ alt=”Caption: Buncombe County, NC – FEMA Administrator Deanne Criswell and North Carolina Governor Roy Cooper tour recovery operations at a local high school, fire station and community care station to talk with staff and disaster survivors.” class=”image-style-large”>Buncombe County, NC – FEMA Administrator Deanne Criswell and North Carolina Governor Roy Cooper tour recovery operations at a local high school, fire station and community care station to talk with staff and disaster survivors. BUNCOMBE COUNTY, North Carolina – FEMA Administrator Deanne Criswell visits with staff and disaster survivors about recovery operations at a local high school, fire station and community care station. (Source: FEMA) View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56452″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/a0cbc8cb1e9938b50f025fa483a0d283.jpg?itok=pClsD1s-” alt=”Caption: Buncombe County, NC – FEMA Administrator Deanne Criswell and North Carolina Governor Roy Cooper tour recovery operations at a local high school, fire station and community care station to talk with staff and disaster survivors.” class=”image-style-large”>Buncombe County, NC – FEMA Administrator Deanne Criswell and North Carolina Governor Roy Cooper tour recovery operations at a local high school, fire station and community care station to talk with staff and disaster survivors. View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56481″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/80ff6cd868da9e52fceb6d20106f1667.jpg?itok=9Hhe7DBi” alt=”Caption: Swannanoa, NC – FEMA Disaster Survivor Assistance staff help survivors at a Community Care Station. FEMA, Buncombe County, City of Asheville and the private sector have worked together to offer showers, laundry, bathrooms, access to cell towers, hot food, water, Wi-Fi, and medicine.” class=”image-style-large”>Swannanoa, NC – FEMA Disaster Survivor Assistance staff help survivors at a Community Care Station. FEMA, Buncombe County, City of Asheville and the private sector have worked together to offer showers, laundry, bathrooms, access to cell towers, hot food, water, Wi-Fi, and medicine. View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56531″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/50d8ffc037538c49d382007aa1769886.jpg?itok=xW7qucuF” alt=”Caption: Sarasota, Fla. (Oct. 17, 2024) – U.S. Army Corps of Engineers assist a family of survivors in their first Blue Roof Project in Sarasota, Florida in the aftermath of Hurricane Milton.” class=”image-style-large”>Sarasota, Fla. (Oct. 17, 2024) – U.S. Army Corps of Engineers assist a family of survivors in their first Blue Roof Project in Sarasota, Florida in the aftermath of Hurricane Milton. View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56426″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/6ed91d66e28321cf80a1887989c06c4a.jpg?itok=qM79h6sL” alt=”Caption: Palm Beach County, Fla. (Oct. 15, 2024) – DSA crews canvas an area of The Acreage in Palm Beach County Florida.” class=”image-style-large”>Palm Beach County, Fla. (Oct. 15, 2024) – DSA crews canvas an area of The Acreage in Palm Beach County Florida. View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56473″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/cf9d4bec75102ebbb97b6fc199bfe0d0.jpg?itok=9VB86i5n” alt=”Caption: Columbia, S.C. (Oct. 14, 2024) – FEMA’s Director of Disability Integration and Coordination, Sherman Gillums, Jr., visits the Association for Better Living and Education to show support for their ongoing efforts in supporting the disabled community. Director Gillums met with Dori Tempio, Sr., Director of Community Education, and Mandy Halloran, Director of Public Health.” class=”image-style-large”>Columbia, S.C. (Oct. 14, 2024) – FEMA’s Director of Disability Integration and Coordination, Sherman Gillums, Jr., visits the Association for Better Living and Education to show support for their ongoing efforts in supporting the disabled community. Director Gillums met with Dori Tempio, Sr., Director of Community Education, and Mandy Halloran, Director of Public Health. View Original‘ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56471″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/9050b3d4f1ac9a6e2bd7cdfbf7ae3a71.jpg?itok=o0HpV_iy” alt=”Caption: Sandersville, Ga. (Oct. 14, 2024) – FEMA opens a Disaster Recovery Center in Sandersville, Georgia to register members of the community and surrounding counties effected by Hurricane Helene for disaster assistance.” class=”image-style-large”>Sandersville, Ga. (Oct. 14, 2024) – FEMA opens a Disaster Recovery Center in Sandersville, Georgia to register members of the community and surrounding counties effected by Hurricane Helene for disaster assistance. FEMA’s Disaster Multimedia Toolkit page provides graphics, social media copy and sample text in multiple languages. In addition, FEMA has set up a rumor control web page to reduce confusion about its role in the Helene response.
amy.ashbridge
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MIL-Evening Report: Can NZ’s supply chain build enough resilience and sustainability to survive the next global crisis?
Source: The Conversation (Au and NZ) – By Julia Fehrer, Associate Professor, Business School, University of Auckland, Waipapa Taumata Rau
New Zealand is highly reliant on trade – particularly on maritime routes, which are lifelines for exports and imports. Key sectors such as agriculture, construction, and wholesale and retail trade depend heavily on this global network.
External events can severely disrupt the flow of goods, delay deliveries or damage critical infrastructure.
But a crisis like the COVID pandemic can also disrupt business commitments to sustainability goals such as reducing carbon emissions, minimising waste and improving resource efficiency.
This is important, because several major New Zealand companies have introduced sustainability measures into their operations over the past decade.
Fonterra, for example, adopted low-carbon logistics and distribution practices. Zespri uses blockchain technology to improve the transparency of its sustainable practices and enhance tracking across its supply chain. Air New Zealand partners with local suppliers and adopts initiatives to lower its carbon emissions.
In our recent research, we reviewed 287 studies on supply chains. We identified key tensions between efficiency and sustainability, and how major disruptions to supply chains and operations can swing the balance between the two.
On one hand, businesses are pressured to maintain lean, cost-effective operations. On the other, there is a growing recognition of the need to build resilience and sustainability, particularly in the face of climate change.
Traditional strategies
New Zealand’s supply chains are susceptible to disruptions from natural disasters (such as earthquakes and floods), geopolitical tensions and global health crises.
Businesses have historically responded in a variety of ways: diversifying suppliers, increasing inventory buffers and securing alternative transport routes.
The use of technology, such as radio frequency identification, has played a crucial role in tracking goods across the supply chain. It provides real-time visibility and accurate inventory management.
Blockchain is becoming a key tool for making supply chains more sustainable. This technology uses a digital ledger to keep information safe and easy to trace.
But the ongoing technological innovation risks disadvantaging people and businesses with limited resources and capabilities along the supply chain.
Embracing a circular economy
During the pandemic, businesses experienced shortages of critical supplies, delays in shipments and fluctuating demand. This forced them to temporarily abandon long-term sustainability strategies in favour of short-term survival tactics.
This made sense from a business perspective. But to build more resilient and sustainable supply chains, businesses will need to move beyond traditional strategies.
Our research found integrating circular economy principles into supply chain management can help create a buffer for businesses.
The circular economy model focuses on minimising waste – keeping products and materials in use for as long as possible. There is also a focus on regenerating natural systems to foster economic, social and environmental resilience.
Companies can reduce their reliance on external supply chains by focusing on reusing materials, creating closed-loop systems with regional partners and by boosting the technologies already in place.
By fostering stronger links with local suppliers and focusing on regional sourcing, businesses can reduce their exposure to global risks. This will also help build more self-sufficient supply chain ecosystems.
Building sustainable supply chains requires investing in advanced technologies, such as blockchain and artificial intelligence. But implementing these technologies should be done carefully and in stages to minimise disruption. Going slowly can also allow for the inclusion of all supply chain partners in these technological transitions.
The way forward
New Zealand’s supply chain future hinges on greater collaboration between everyone involved, including businesses, policymakers and communities.
In practice, this means working together to build systems that are not only efficient and cost-effective but also resilient and sustainable.
Equally, resilient supply chains require regional manufacturing ecosystems. To mitigate the risks from global supply chain disruptions, it’s essential to support local manufacturing, even when offshore manufacturing costs are lower.
This will require government support and strategic investment in regional manufacturing innovation.
While New Zealand’s supply chains face significant challenges, there are great opportunities to reshape them for a more resilient and sustainable future.
By integrating circular economy principles, using advanced technologies and fostering regional collaboration, New Zealand can build supply chains that are prepared for future crises and which also contribute to the country’s sustainability goals.
Julia Fehrer receives funding from the New Zealand Ministry of Business, Innovation, and Employment.
Christina Stringer, Sunny Kareem, and Timofey Shalpegin 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. Can NZ’s supply chain build enough resilience and sustainability to survive the next global crisis? – https://theconversation.com/can-nzs-supply-chain-build-enough-resilience-and-sustainability-to-survive-the-next-global-crisis-241348
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MIL-OSI USA: SBA Stands Ready to Assist Alaska Businesses and Residents Affected by the Flooding
Source: United States Small Business Administration
SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to Alaska businesses and residents as a result of President Biden’s major disaster declaration, U.S. Small Business Administration’s Administrator Isabella Casillas Guzman announced.
The declaration covers the City and Borough of Juneau as a result of flooding that occurred Aug. 5–6.
“SBA’s mission-driven team stands ready to help Alaska’s small businesses and residents impacted by flooding,” said Administrator Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.
“SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”
Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.813 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.
Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.
As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov. -
MIL-OSI USA: SBA to Open Virtual Business Recovery Center to Assist Arizona Businesses Affected by Watch Fire
Source: United States Small Business Administration
SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, today announced the opening of its virtual Business Recovery Center to meet the needs of businesses and individuals who were affected by affected by the Watch Fire that occurred July 10-17.
“When disasters strike, our virtual Business Recovery Centers are key to helping business owners and residents get back on their feet,” Sánchez said. “At these virtual centers, people can connect directly with our specialists to apply for disaster loans and learn about the full range of programs available to rebuild and move forward in their recovery journey.”
SBA has established a virtual Business Recovery Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application.
Virtual Business Recovery Center
Monday – Friday
8 a.m. – 5 p.m. Pacific Time
FOCWAssistance@sba.gov
(916) 932-8956
Opens at 8 a.m. Friday, Oct. 18Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
“SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez continued. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”
SBA disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.
Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.
Applicants may apply online and receive additional disaster assistance information and download applications at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659‑2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The deadline to apply for property damage is Dec. 3, 2024. The deadline to apply for economic injury is July 7, 2025.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov. -
MIL-OSI China: Germany, China seek broader opportunies for bilateral cooperation
Source: China State Council Information Office
Strong cooperation between Germany and China is vital for maintaining global economic stability, particularly amid rising geopolitical tensions, according to Christian Scharpf, mayor of Ingolstadt in southern Bavaria.
Scharpf made the remarks during an interview with Xinhua at the “10th Bavarian China Day” here on Wednesday. The event, organized by the municipal government and the Chinese Consulate General in Munich, drew more than 120 officials and business leaders from both countries, underscoring the promising prospects for bilateral collaboration.
This year marks the 10th anniversary of the comprehensive strategic partnership between China and Germany, which has delivered significant progress in trade and economic cooperation, said Lin Kai, acting consul general at the Chinese consulate in Munich.
Highlighting the deep ties between China and the German state of Bavaria, Lin said that around 500 Chinese companies have established operations in Bavaria. Meanwhile, over 600 Bavarian enterprises, including Siemens, Audi, BMW, and Allianz, have set up branches and made investments in China.
Tobias Gotthardt, state secretary at the Bavarian Ministry of Economic Affairs, Regional Development and Energy, said that China has been Bavaria’s most important trading partner for years, with bilateral trade volume reaching 53 billion euros (57.5 billion U.S. dollars) in 2023. Bavaria’s exports to China have remained strong, while imports from China have nearly doubled over the past three years, he added.
Gotthardt stressed the importance of foreign trade for the state and Germany as a whole, noting that the Chinese market is indispensable.
“Cooperation in areas such as mechanical engineering, automotive, and energy and environmental technologies has been built on a foundation of trust over many years,” said Gotthardt.
He expressed optimism that this collaboration will continue to drive economic growth and address global challenges like sustainability. “We must remain focused on cooperation in areas where it is possible.”
Yu Guangsheng, deputy head of the investment promotion at China’s Ministry of Commerce, mentioned that German investments in China reached an all-time high in the first half of this year, while Chinese investments in Germany surged by 42 percent year-on-year in 2023. “Companies from both countries are demonstrating their confidence in bilateral economic relations and partnerships through tangible investments,” he said.
During the event, Ingolstadt and Changchun, a major city in northeast China, announced the establishment of a strategic economic partnership.
Scharpf underscored the longstanding relationship between Ingolstadt, home to Audi’s headquarters, and Changchun, where China’s automotive giant FAW Group is based. He noted that economic and cultural exchanges between the two cities have been active for years, and expressed hope for even deeper cooperation in the future.
The mayor voiced his belief that the two countries still have vast potential for collaboration, particularly in areas like climate protection, sustainable development, as well as education and cultural exchanges.
Regarding the European Union’s (EU) recent tariff policy on electric vehicles from China, experts at the event criticized protectionism, and advocated for the promotion of free trade and mutual development between the EU and China.
Gotthardt warned that the tariffs could escalate trade conflicts and undermine the principles of free trade. “A tariff-free alternative would undoubtedly be a better solution for all parties involved,” he said.
Georg Rosenfeld, an economic official from Ingolstadt, echoed this sentiment, saying that protectionism and trade barriers are detrimental. He called for open and fair competition, as well as mutual trust which is essential to fostering such competition. (1 euro = 1.08 U.S. dollar)
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MIL-OSI China: China to improve economic, trade cooperation with Vietnam
Source: China State Council Information Office
China will work to enhance economic and trade cooperation with Vietnam, a spokesperson for China’s Ministry of Commerce said on Thursday.
Spokesperson He Yadong told a press conference that China is Vietnam’s largest trade partner, while Vietnam is China’s largest trade partner among the Association of Southeast Asian Nations.
From January to September 2024, trade volume between the two countries reached 190.38 billion U.S. dollars, up 17.6 percent year on year.
Vietnam is an important overseas investment destination for China. In the first eight months, direct investment by Chinese enterprises in Vietnam totaled 1.97 billion dollars, maintaining rapid growth.
Efforts will be made to both explore and pilot the establishment of cross-border economic cooperation zones, expanding cooperation in emerging fields such as information technology, new energy and digital economy, the spokesperson said.
Enterprises from the two countries will be supported to make full use of platforms like the China International Import Expo, the China Import and Export Fair and the China-ASEAN Expo to expand trade of agricultural and aquatic products, as well as manufactured industrial products, He said.
Measures will also be taken to deepen cooperation related to supply chains and regional economic integration, He added.
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MIL-Evening Report: When does the love of the game outweigh the cost? ABC’s Plum brings rugby league’s concussion crisis to the fore
Source: The Conversation (Au and NZ) – By Michelle O’Shea, Senior Lecturer, School of Business, Western Sydney University
ABC Brendan Cowell’s 2021 novel Plum has expertly wed two seemingly unnatural partners: rugby league and poetry. Cowell’s story is both an ode of love to rugby league, and a powerful exploration of the catastrophic effects of sport-induced brain injury.
This story has now been brought to life in an ABC drama of the same name. It brilliantly reflects the experience of many players who are left to suffer – often in silence – with the long-term costs of the game.
A theatre of damage revealed
Our introduction to the main character, Peter “The Plum” Lum (played by Cowell), is jarring. Plum’s body lies motionless in a darkened changing room, enveloped by the distant sounds of a roaring stadium full of fans, a sharp referee’s whistle and the commentator’s pitched voice: “this poor bloke, he has had his head absolutely battered”.
We watch the doctor’s light worryingly cast to and fro across Plum’s dazed gaze, while his heavily pregnant wife’s concerned face looms large. Much larger, however, is the coach’s demand: “get the salts doc” – and his insistence that “the only way he (Plum) isn’t going back out there (on the field) is if he is fucking dead”.
And so the act proceeds, with Plum, like many athletes before and after him, returning heroically to the field. Though his team is victorious – another trophy retained – we’re forced to consider the unspoken costs of his love for the game.
These costs are amplified once the adoration from Plum’s fans and teammates, and his mantle as Cronulla’s king, are no more. We come to know a shell of a man who is desperate to deny, despite the advice of his doctor, the cognitive and other effects of the “little jolts” and “hard head knocks” experienced throughout his career.
The intensity with which Plum keeps his health condition a secret, and the ongoing abuse he levels on his body, provide a window into the lived experiences of many rugby league players. While this game gives, it also takes more than its fair share.
Asher Keddie stars as Plum’s former wife, Renee.
ABCMasculinity and collision sports
The series highlights the emerging scientific link between collision sports such as rugby league and degenerative brain conditions including CTE-induced dementia – as well as attempts to discredit this science and silence the voices of athletes and families seeking redress from league administrators.
Contact and collision sports have often required athletes to sacrifice their brains and bodies in the pursuit of glory and success.
While a diagnosis of the degenerative brain disease Chronic Traumatic Encephalopathy (CTE) can only be made posthumously, Plum displays many of the hallmark symptoms: impaired judgement, impulse control issues, aggression, depression and anxiety.
Viewers are taken into the deep fog of this existence. As a 1990s playmaker, Plum had fame but not fortune. Nearing 50, working at an airport, we see a traumatic near-miss as he experiences an epileptic seizure.
His forgetfulness leaves him unable to remember his favourite player’s name at a Cronulla Sharks corporate event. He suffers confusion and anxiety. Aggressive acts, including punching holes in bedroom walls, become his daily pain and shame.
Plum’s absent father’s advice to “never take a backwards step” also echoes throughout the series, reflecting the deeply embedded view of rugby league as a hard sport played by equally hard men.
This hard man veneer is grounded in stoicism – and for Plum and his former teammates, in unhealthy addictions to gambling, drugs and grog. Plum repels his family and friends, making his world intentionally small for fear he might forget something or someone. The series brings to the fore the raw and visceral effects of hypermasculinity and not speaking out.
Cowell himself hails from the Sydney suburb of Cronulla, where the show is set.
ABCRugby league and poetry
The series also features poetry and the presence of past literary figures (conjured in Plum’s mind) such as Charles Bukowski and Sylvia Plath. As viewers, we see Plum’s internal dialogues with these apparitions, but his family and friends can’t.
Plum also joins a local poetry group, where his decaying brain finds purpose and connection. This unlikely outlet becomes his therapy. It comforts him and provides him a space to communicate his experiences with the outside world. Through his ode to rugby league, we witness him come closer to clarity.
Read more:
Why a portrait of a former NRL great could spark greater concussion awareness in Australia
All the while, Plum’s son is a talented player on the verge of a professional rugby league contract. And although Plum doesn’t regret a minute of his playing career, his prognosis leaves him urging his son away from the sport’s theatre of damage. This is a decision echoed by many parents in real life.
The future of collision sports
Reflecting on the potential impact of his book and the ABC series, Cowell imagines a space where the competitive commercial rivalries between football codes such as AFL, rugby union and soccer are suspended.
Instead of competing for a greater share of the market via trivial one-upmanship, sport leagues could pool their resources to invest in science that helps us understand and prevent sport-induced brain trauma.
Considering how many rugby players conceal and/or fail to report concussive episodes, we’ll need a major cultural shakeup at all levels of the game – because a love for the game should never come at the expense of oneself.
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. When does the love of the game outweigh the cost? ABC’s Plum brings rugby league’s concussion crisis to the fore – https://theconversation.com/when-does-the-love-of-the-game-outweigh-the-cost-abcs-plum-brings-rugby-leagues-concussion-crisis-to-the-fore-240550
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MIL-OSI Australia: Full steam ahead for the Albury to Illabo section of the Inland Rail project
Source: New South Wales Government 2
Headline: Full steam ahead for the Albury to Illabo section of the Inland Rail project
The NSW Government has approved the Albury to Illabo section of the 1,600-kilometre Inland Rail project between Brisbane and Melbourne.
The Critical State Significant Infrastructure (CSSI) project has now been formally approved by the Minister for Planning and Public Spaces, Paul Scully. The approval means the project remains on target for the Australian Rail Track Corporation (ARTC) to begin construction in south-western NSW in early 2025.
The work will include upgrades to rail tracks, footbridges and road bridges, overhead structures, signal structures and level crossings on agricultural land and through Albury, Culcairn, Henty, Yerong Creek, The Rock, Uranquinty, Wagga Wagga and Junee.
The project’s approval, includes consent conditions that relate to traffic monitoring, transport infrastructure upgrades and noise and biodiversity management.
Following the completion of the Inland Rail, Australia’s regional freight capacity will be expanded, meaning less trucks on the road and lower freight industry emissions.
With a capital investment of $300.8 million for this section of the rail line, the project is a major economic boost for the region on top of the 770 new jobs provided by the project.
The Albury to Illabo connection is one of seven sections traversing the inland length of NSW and its approval comes weeks after the Minister for Planning and Public Spaces approved the Illabo to Stockinbingal Inland Rail project.
More information is available here: https://www.planning.nsw.gov.au/assess-and-regulate/state-significant-projects/inland-rail/albury-to-illabo
Minister for Planning and Public Spaces Paul Scully said:
“Improved Inland Rail will enhance our national freight and supply chain capabilities by connecting and improving routes through rail, roads and ports.
“I look forward to seeing this critical state significant infrastructure project come to life over the next few years and the many benefits it will bring to regional NSW.
“This project has gone through a rigorous planning process with extensive consultation completed to minimise impacts and maximise the project’s opportunities.”
Minister for Regional NSW and Western NSW Tara Moriarty said:
“Inland Rail promises to be a game changer for people across rural NSW.
“Regional communities need big developments to keep workers in the bush actively contributing to their communities, with this project providing 770 new jobs.
“We are proud that NSW continues to help Inland Rail’s essential journey through Australia’s three eastern states.”
Minister for Regional Transport and Roads Jenny Aitchison said:
“This section of Inland Rail will provide a valuable infrastructure link for the Murray region as it connects with this vital piece of national infrastructure.
“The NSW Government is working with Inland Rail to deliver this project and strengthen its commitment to the regions.
“Consumers right across regional NSW stand to benefit with valuable cost savings once the Inland Rail project is complete as our state will have a more efficient and sustainable freight transport.
“The Albury to Illabo and Stockinbingal to Parkes sections of the Inland Rail project have already injected more than $4.2 million across these local economies with many businesses receiving a timely economic boost during a cost-of-living crisis.”
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MIL-OSI Australia: UTAS Inveresk precinct complete with the opening of The Shed
Source: Australian Ministers for Education
The University of Tasmania (UTAS) today celebrated the opening of its latest facilities, penning a new chapter in the life of one of Australia’s oldest universities – supported by funding from all three levels of government.
The Shed, the last of three new buildings at UTAS’s redeveloped Inveresk campus at Launceston, is set to receive students from semester one next year.
Centrally located opposite City Park, The Shed is the largest of UTAS’s three new facilities, and includes a variety of specialised allied health clinics, science labs and nursing simulation facilities.
The facility will host community health education programs, professional development workshops, sports science testing and wellbeing initiatives, as well as a range of community activities and events.
The $97 million project was delivered as part of the $304 million relocation and redevelopment of UTAS’s main Launceston campus from Newnham to Inveresk – which is expected to increase student numbers to 10,000 by 2032.
This transformation was jointly funded, with $130 million from the Australian Government, $108.6 million from UTAS, $60 million from the Tasmanian Government and $5.4 million from the City of Launceston – as part of the $609.4 million Launceston City Deal.
Quotes attributable to Federal Minister for Education, Jason Clare MP:
“Congratulations to the Vice-Chancellor, staff and students on the opening of The Shed right here in the heart of Launceston.
“This new building will help train more nurses and health workers and support more people in Northern Tasmania to get a crack at going to uni.”
Quotes attributable to Federal Minister for Regional Development and Local Government, Kristy McBain MP:
“As someone that had to leave home to attend university, I know how important it is to have education opportunities locally, especially in our regions – because postcodes shouldn’t be a barrier for your future.
“Having toured this campus last year, I know its central location and high-quality facilities will boost attendance numbers – with 2,400 students already moving to the Inveresk precinct, and around 4,000 students expected from early next year.”
Quotes attributable to Tasmanian Minister for Education, Jo Palmer:
“The Shed is an important piece of infrastructure, but it’s what will occur within its walls and upon this new campus that is most important.
“This project provides exciting opportunities for our young people embarking on their journey of lifelong learning and also for the wider community.
“Being able to stay in Tasmania and study new courses such as speech pathology, physiotherapy and occupational therapy is so important for our young people.”
Quotes attributable to Tasmanian Minister for Business, Industry and Resources, Eric Abetz MP:
“The completion of The Shed is a significant milestone in the Northern Transformation Project. This state-of-the-art facility is a testament to what can be achieved when all levels of government, the University of Tasmania, and the local community work in unison for a common goal.
“This transformation project is not just about new buildings, it’s about creating an environment that fosters innovation, learning, and growth, with benefits extending well beyond the university’s walls and into the community.
“It is exciting to see the tangible outcomes of this investment driving significant economic activity across the region—creating jobs, supporting local industries, and delivering long-term benefits to the Tasmanian economy.”
Quotes attributable to Federal Labor Senator for Tasmania, Helen Polley:
“We continue to deliver the projects that people in Launceston and across Northern Tasmania deserve – with this transformative campus to ensure people can study in-demand qualifications at home.
“With the expected influx of new students into Launceston in the coming years, our investment in the University’s presence at Inveresk will support new jobs and stimulate our local economy long into the future.”
Quotes attributable to City of Launceston Mayor Matthew Garwood:
“The completion of UTAS’s campus is an amazing milestone for the city and region.
“Launceston’s CBD has been transformed by the relocation of UTAS’s campus to Inveresk into a vibrant and dynamic precinct.
“We have seen how the relocation has given confidence to nearby investments in the city, including our own redevelopment of the iconic Albert Hall.
“Inveresk has now become a really colourful and contemporary part of Launceston, with its links to QVMAG, UTAS Stadium and our CBD.”
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MIL-OSI Australia: Cyber Security is Everyone’s Business
Source: Northern Territory Police and Fire Services
This October is Cyber Security Awareness Month and Northern Territory Police are urging Territorians to take a moment to ensure you’re being Cyber Secure.
There are still bookings available in both Alice Springs and Darwin for free information sessions for seniors next week.
Cyber Security is everyone’s business and following the below simple steps can greatly reduce the likelihood you fall victim to cyber criminals.
Senior Constable Nadine Caulfield with the NT CyberCrime Investigations Unit (CIU) said “Northern Territory Police regularly receive reports where victims have suffered financial loss, or have become a victim of identity theft, and in many cases we investigate, a stronger password or the presence of Multi-Factor Authentication could have prevented it.
“Those two simple tools remain one of the best defences against cybercrime. We hear the messaging all the time – update your password, set up multi-factor authentication or two-step verification, and there’s a reason for it –it works.
“Last year, the NT CIU was made aware that 39 Australians, from every state and Territory across the country, reported to police that they were victims of online fraud. Two offenders were identified in the NT. Both were arrested and charged with 39 counts each of Obtain a Benefit by Deception. The matter remains before Darwin Local Court with their next appearance is on 18 November 2024.
“Throughout our investigations, it became apparent that there was likely to be at least another 200 victims of the same online fraud syndicate. Many people may be ashamed to report that they have been the victim of a scam, but proper reporting gives police the information needed to tackle these offenders head on.
“NT Police will be jointly presenting in free Cyber Safety Sessions lead by the NT Government in partnership with the Council of Aging NT.”
The Alice Springs sessions will be held on Wednesday 23 October – the Seniors event at 10am to 11:30am, and the Business event at 1pm to 2.30pm at the Alice Springs Convention Centre.
The Darwin Seniors session will be held on Friday 25 October at 1pm to 2:30pm at the Council of the Ageing, Spillett House.
Bookings are essential so register HERE.
Cybercrime across Australia remains grossly underreported. NT Police encourage all Territorians to make a report if you have been a victim of cybercrime, even if you did not suffer financial loss.
Reporting has never been more simple by going straight to Cyber Report.
For more information go to https://becybersmart.nt.gov.au/.
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MIL-Evening Report: Could a recent ruling change the game for scam victims? Here’s why the banks will be watching closely
Source: The Conversation (Au and NZ) – By Jeannie Marie Paterson, Professor of Law, The University of Melbourne
In Australia, it’s scam victims who foot the bill for the overwhelming majority of the money lost to scams each year.
A 2023 review by the Australian Securities and Investment Commission (ASIC) found banks detected and stopped only a small proportion of scams. The total amount banks paid in compensation paled in comparison to total losses.
So, it was a strong statement this week when it was revealed the Australian Financial Conduct Authority (AFCA) had ordered a bank – HSBC – to compensate a customer who lost more than $47,000 through a sophisticated bank impersonation or “spoofing” scam.
This decision was significant. An AFCA determination is binding on the relevant bank or other financial institution, which has no direct right of appeal. It could have implications for the way similar cases are treated in future.
The ruling comes amid a broader push for sector-wide reforms to give banks more responsibility for detecting, deterring and responding to scams, as opposed to simply telling customers to be “more careful”.
Here’s what you should know about this landmark ruling, and what it might mean for consumers.
Read more:
Australia’s new scam prevention draft is welcome – but it needs to be broader in scope
A highly sophisticated ‘spoofing’ scam
You might be familiar with “push payment” scams that trick the victim into paying money to a dummy account. These include the “mum I’ve lost my phone” scam and some romance scams.
The recent case concerned an equally noxious “bank impersonation” or “spoofing” scam. The complainant – referred to as “Mr T” – was tricked into giving the scammer access to his HSBC account, from which an unauthorised payment was made.
The victim was duped into providing passcodes to access his online banking account.
tsingha25/ShutterstockThe scammer sent Mr T a text message, purportedly asking him to investigate an attempted Amazon transaction.
In an effort to respond to the (fake) unauthorised Amazon purchase, Mr T revealed security passcodes to the scammer, enabling them to transfer $47,178.54 from his account and disappear with it.
The fact Mr T was dealing with scammers was far from obvious – scammers had information about him one might reasonably expect only a bank would know, such as his bank username.
On top of this, the scam text message appeared in a thread of other legitimate text messages that had previously been sent by the real HSBC.
AFCA’s ruling
HSBC argued to AFCA that having to pay compensation should be ruled out under the ePayments Code, a voluntary code of practice administered by ASIC.
Under this code, a bank is not required to compensate a customer for an unauthorised payment if that customer has disclosed their passcode. The bank argued the complainant had voluntarily disclosed these codes to the scammer, meaning the bank didn’t need to pay.
AFCA disagreed. It noted the very way the scam had worked was by creating a sense of urgency and crisis. AFCA considered that the complainant had been manipulated into disclosing the passcodes and had not acted voluntarily.
AFCA awarded compensation covering the vast majority of the disputed transaction amount, lost interest charged to a home loan account, and $5,000 towards Mr T’s legal costs.
It also ordered the bank to pay compensation of $1,000 for poor customer service in dealing with the matter, including communication delays.
Other cases may be more complex
In this case, the determination was relatively straightforward. It found Mr T had not voluntarily disclosed his account information, so was not excluded from being compensated under the ePayments Code.
However, many payment scams fall outside the ePayments Code because they involve the customer directly sending money to the scammer (as opposed to the scammer accessing the customer’s account). That means there is no code to direct compensation.
Still, AFCA’s jurisdiction is broader than merely applying a code. In considering compensation for scam losses, AFCA must consider what is “fair in all the circumstances”. This means taking into account:
- legal principles
- applicable industry codes
- good industry practice
- previous AFCA decisions.
Relevant factors might well include whether the bank was proactive in responding to known scams, as well as the challenges for individual customers in identifying scams.
Broader reforms are on the way
At the heart of this determination by AFCA is a recognition that, increasingly, detecting sophisticated scams can be next to impossible for customers, which can mean they don’t act voluntarily in making payments to scammers.
Similar reasoning has informed a range of recent reform initiatives that put more responsibility for detecting and responding to scams on the banks, rather than their customers.
In 2023, Australia’s banking sector committed to a new “Scam-Safe Accord”. This is a commitment to implement new measures to protect customers, including a confirmation of payee service, delays for new payments, and biometric identity checks for new accounts.
Tech platforms – including social media giants – would have to take more proactive steps against scams under proposed new legislation.
Primakov/ShutterstockChanges on the horizon could be more ambitious and significant.
The proposed Scams Prevention Framework legislation would require Australian banks, telcos and digital platforms to take reasonable steps to prevent, detect, report, disrupt and respond to scams.
It would also include a compulsory external dispute resolution process, like AFCA’s, for consumers seeking compensation for when any of these institutions fail to comply.
Addressing scams is not just an Australian issue. In the United Kingdom, newly introduced rules make paying and receiving banks responsible for compensating customers, for scam losses up to £85,000 (A$165,136), unless the customer is grossly negligent.
Jeannie Marie Paterson has previously received funding from the Australian Research Council and conducted research for ASIC and AFCA. She is currently working on a project on AFCA determinations with Dr Nicola Howell and Evgenia Bourova. The scams research has been assisted by Andrew Lim.
Nicola Howell has previously conducted funded research for ASIC and is currently working on a project on AFCA determinations with Professor Jeannie Paterson and Evgenia Bourova. Nicola is affiliated with the Consumers’ Federation of Australia, as a member of the CFA Executive.
– ref. Could a recent ruling change the game for scam victims? Here’s why the banks will be watching closely – https://theconversation.com/could-a-recent-ruling-change-the-game-for-scam-victims-heres-why-the-banks-will-be-watching-closely-241558
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MIL-OSI Economics: APAC deal volume drops 6.8% during Q1-Q3 2024, as India, Japan, and Australia defy global trend, reveals GlobalData
Source: GlobalData
APAC deal volume drops 6.8% during Q1-Q3 2024, as India, Japan, and Australia defy global trend, reveals GlobalData
Posted in Business Fundamentals
Deal activity in the Asia-Pacific (APAC) region saw a 6.8% year-on-year (YoY) decline during January to September (Q1-Q3) 2024, with mergers & acquisitions, private equity, and venture financing facing headwinds from economic uncertainties and geopolitical tensions. However, APAC demonstrated resilience compared to global markets, with countries like India, Japan, and Australia bucking the trend and showing growth in deal volume, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database reveals that a total of 10,551 deals were announced in APAC during Q1-Q3 2024 compared to the 11,317 deals announced during the same period in previous year,
The number of M&A, private equity, and venture financing deals registered a YoY decline of 3.1%, 20.7%, and 10.2%, respectively, during the review period.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “In line with the global trend, APAC also witnessed decline in deal activity amid the economic uncertainties, ongoing wars and geopolitical tensions. However, it is noteworthy that APAC showcased relative resilience compared to other regions and even though there was a decline, it was the least among all the regions.”
For instance, North America, Europe, Middle East and Africa, and South and Central American regions experienced respective deal volume fall by 16%, 13.6%, 7.6%, and 22.3% YoY during Q1-Q3 2024.
Bose adds: “While deal activity across the APAC region presented a varied picture, the bulk of the decline was concentrated in China. In contrast, key markets like India, Japan, and Australia showed positive momentum, highlighting their resilience amid broader economic challenges.”
China experienced a 22.8% YoY decrease in the number of deals announced during Q1-Q3 2024 compared to Q1-Q3 2023. Other markets such as South Korea, Singapore, Malaysia, Hong Kong, Indonesia, and New Zealand experienced decline in deal volume by 1.2%, 19.1%, 14.4%, 16%, 34.2%, and 4.7%, respectively. Meanwhile, India, Japan and Australia saw their respective deal volume grow by 9.6%, 16.2% and 2.2%.
Bose concludes: “The growth seen in India, Japan, and Australia reflects a strategic shift in investor focus on markets with strong fundamentals and growth prospects. These markets continue to offer compelling opportunities, and their ability to buck the global trend reinforces the importance of a diversified approach in venture capital and private equity investments within the region.”
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MIL-OSI Economics: Consumer preference for clean label products spurs innovation in APAC, says GlobalData
Source: GlobalData
Consumer preference for clean label products spurs innovation in APAC, says GlobalData
Posted in Consumer
The rising demand for clean label products is spurring advancements and innovations in the Asia-Pacific (APAC) region, as companies recognize the need to adapt to changing consumer preferences. This demand is not just limited to food and beverages; it extends to personal care and household products as well. A survey corroborates this trend, where 49% of respondents in Asia & Australasia stated that their product purchasing decisions for household cleaning products are either always or often influenced by how ethical/environmentally friendly/socially responsible the product/service is*, says GlobalData, a leading data and analytics company.
Mani Bhushan Shukla, Consumer Analyst at GlobalData, comments: “Clean label products often use simple, natural ingredients, are free from additives and artificial chemicals, and also commonly feature sustainable and ethical credentials. The expected characteristics of clean label products can vary between industries. Healthy attributes such as “low-sugar” and “low-fat” are prioritized more in food and beverages, while “natural” and “free-from” attributes are prioritized more in personal care. Clean label household care products tend to include natural ingredients instead of synthetic ingredients or “harsh” chemicals, as well as exhibiting sustainability credentials like recyclable packaging.”
Deepak Nautiyal, Consumer and Retail Commercial Director, Asia-Pacific and Middle East, GlobalData, adds: “Manufacturers are exploring innovative sourcing methods, sustainable packaging solutions, and alternative ingredients that align with the clean label ethos. As brands strive to meet consumer expectations, they are also exploring new marketing strategies that highlight their commitment to transparency and sustainability, ultimately leading to a broader range of clean label options for consumers.
“Aligning with this trend, Unilever introduced the Sunlight BioCare Nature dishwashing liquid in Vietnam, Indonesia, and Thailand, featuring RhamnoClean Technology for superior grease removal. This product is integrated into the company’s Clean Future sustainability initiative, which employs circular economy principles in both its formulation and packaging to minimize CO2 emissions and plastic waste.”
Shukla notes: “Heightened health and wellbeing concerns are seeing consumers seek ways to safeguard health and wellness and boost immunity, while increased awareness of sustainability issues amid a rising frequency of extreme weather events has resulted in proactive efforts to reduce carbon footprints. Many consumers are switching to clean label products that feature simple and natural ingredient lists to address such concerns, as well as eco-friendly or ethically sound products. For instance, Garnier, part of the L’Oréal’s family, renewed its commitment to providing sustainable products for consumers in Asia. By utilizing green science, the brand seeks to reduce the environmental footprint of its products, aligning with the increasing consumer interest in eco-friendly beauty solutions.”
Nautiyal continues: “The integration of sustainable packaging and a clean label will significantly influence consumer purchasing decisions and foster brand loyalty, as evidenced in a GlobalData consumer survey, wherein 78% of APAC consumers consider it essential/nice to have recyclable packaging*. This dual approach not only attracts eco-conscious consumers but also fosters a deeper emotional connection with the brand, leading to increased customer retention and loyalty.”
Shukla concludes: “As environmental concerns rise in Asia, companies emphasizing eco-friendly ingredients and sustainable supply chains will find new growth opportunities. The demand for safe, environmentally beneficial products will drive innovation in the clean label market. By investing in innovative sourcing and transparent supply chains, these companies can enhance their clean label offerings, attract eco-conscious consumers, and build brand loyalty for long-term success.”
*GlobalData Q2 2024 Consumer Survey – Asia & Australasia, published in July 2024, with 6,506 respondents
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MIL-OSI Economics: 2024/25 LaLiga generates estimated $117.47 million in sponsorship revenue, reveals GlobalData
Source: GlobalData
2024/25 LaLiga generates estimated $117.47 million in sponsorship revenue, reveals GlobalData
Posted in Sport
Spanish football league LaLiga’s largest sponsorship deal in terms of annual value for the 2024/25 season is its title sponsorship with EA Sports. The deal came into effect from the 2023/24 season and covers the top-flight LaLiga and second-tier Segunda Division, LaLiga Promises, and eLaLiga. Additionally, the league’s longest active partner is Microsoft, which has been in partnership with the league since 2016. Overall, the football league generated an estimated $117.47 million in sponsorship revenue for the 2024/25 season, reveals GlobalData, a leading data and analytics company.
GlobalData’ s latest report, “The Business of LaLiga 2024/25”, reveals that the estimated domestic media revenue for the 2024/25 LaLiga is $1.12 billion. FC Barcelona’s kit supplier deal with Nike has the largest annual value across the 2024/25 LaLiga competing teams. New partners for the 2024-25 season were Uber Eats, Exness, Luckia, SportBet, and ACTIVA Group.
Olivia Snooks, Sport Analyst at GlobalData, comments: “Over half of the annual deal revenue for LaLiga is being generated from American-based brands. So, developing partnerships with US-based brands is a logical step for the league to take.”
Real Madrid, being the most successful Spanish soccer club, boasts the second largest kit supplier deal with adidas. Barcelona and Real Madrid hold a far superior commercial value compared to the other competing teams. Both club kit suppliers, Nike and adidas, are comfortably the biggest spenders in the kit supplier market across the LaLiga 2024/25 season.
Snooks continues: “There is a notable drop off in terms of spend between Nike and adidas, and the other kit supplier brands across the market. As mentioned, given the commercial value of Barcelona and Real Madrid, the likes of Castore and Hummel just cannot match the ability to commit to such a high value partnership, unlike Nike and adidas.”
Worth an estimated $381.54 million annually, Barcelona has the highest estimated annual sponsorship revenue for the season, closely followed by Real Madrid in second. Barcelona’s largest deal in terms of annual value ahead of the 2024/25 season is with Spotify. Real Madrid’s largest deal is with HP, which is the team’s first ever sleeve sponsor; the deal is worth an estimated $35 million annually.
Snooks concludes: “It is no surprise that the two teams that have the highest commercial value across kit suppliers, front-of-shirt sponsors, and sleeve sponsors, also have the largest sponsorship revenue across the 20 competing LaLiga teams. It is worth noting that both Real Madrid and Barcelona did not even rank in the top three teams in terms of deal volume; however, both teams have such huge commercial value that the deal volume is not so important.”
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MIL-OSI Australia: Victorian woman sentenced over GST fraud
Source: Australian Department of Revenue
A Victorian woman has been sentenced to 4 years imprisonment, with a non-parole period of 2 years and 4 months, after she claimed nearly $600,000 in GST refunds from 27 fraudulent business activity statements lodged, contrary to section 134.2(1) of the Criminal Code (Cth).
Tahra Wyntjes was sentenced for obtaining $599,349 in fraudulent GST refunds she was not entitled to and for attempting to obtain a further $259,976, which was stopped by ATO officers. A reparation order to the value of the amount obtained was granted. This debt to the Commonwealth will be actively pursued in addition to the jail time Ms Wyntjes will serve.
Ms Wyntjes registered for both an Australian Business Number and for GST in November 2021 for a residential cleaning business. Between November 2021 and March 2022, she lodged the fraudulent business activity statements (BAS), which ATO officers quickly noticed and began investigating.
After failing to respond to ATO officers following a review on her BAS lodgments and reviewing available evidence, it was concluded that Ms Wyntjes was not carrying on a genuine business and had submitted multiple false claims for GST.
Acting Deputy Commissioner Jade Hawkins welcomed the court’s decision which serves as a warning to those who deliberately try to defraud the government for their own personal gain.
‘Not only did this individual lodge fraudulent activity statements, but she also invented a fake business in order to claim GST refunds she was not entitled to.’
‘Our message remains clear. If you don’t run a business, you don’t need an ABN and you can’t claim GST refunds. This is fraud,’ Ms Hawkins said.
For those who may be tempted to take part in these criminal activities, the ATO has sophisticated risk models and technologies to detect and prevent fraud.
This is the latest result of extensive efforts under the Australian Taxation Office (ATO)–led investigation, Operation Protego, which was initiated in response to calculated GST fraud.
‘GST fraud is not a victimless crime – those who steal funds from the community that would otherwise be used for essential services will face severe consequences including jail sentences for serious offenders,’ Ms Hawkins said.
This matter was prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP) following a referral from the ATO.
As part of Operation Protego, the ATO has taken action against more than 57,000 alleged offenders, and those involved in this fraud have already been handed in the order of $300 million in penalties and interest.
As of 30 September 2024:
- 104 people have been arrested.
- 59 people have been convicted with a range of sentencing outcomes, including jail terms of up to 7 years and 6 months and with orders made to restrain real property.
- The ATO has finalised 60 investigations and referred 51 briefs of evidence to Commonwealth Director of Public Prosecutions.
The ATO also supports Operation Protego investigations which are led by local law enforcement agencies rather than the SFCT.
You can confidentially report suspected tax crime or fraud to us by making a tip-off online or calling 1800 060 062.
For more information about Operation Protego ato.gov.au/GSTrefundfraud.
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MIL-OSI: Changes to the Management Board of Inbank
Source: GlobeNewswire (MIL-OSI)
The Supervisory Board of AS Inbank confirmed the appointment of Ivar Kurvits as a new member of the Management Board returning from a sabbatical, who assumed his role on October 17, 2024.
Ivar Kurvits returns to his position as Chief of Staff at Inbank and resumes his responsibilities as a board member after a six-month sabbatical. Ivar Kurvits, who has long-term experience in legal and management, has been a member of the Inbank management board since 2020. Prior to joining Inbank, he held senior positions at Eesti Energia and the law firm Sorainen.
The eight-member Management Board of AS Inbank also includes Chairman of the Board Priit Põldoja, CFO Marko Varik, Head of Baltic Business Margus Kastein, Head of CEE Business Maciej Pieczkowski, Head of Growth and Business Development Piret Paulus, Chief Product and Technology Officer Erik Kaju, and Head of Risk Control Evelin Lindvers.
Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with 6,100 merchants, Inbank has 895,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.
Additional information:
Merit Arva
Inbank AS
Head of Brand and Communications
merit.arva@inbank.ee
+372 553 3550 -
MIL-OSI Asia-Pac: FS to visit Peru and US
Source: Hong Kong Government special administrative region
FS to visit Peru and US
FS to visit Peru and US
***********************The Financial Secretary, Mr Paul Chan, will depart for Peru this evening (October 18) to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting and other related events to be held in Lima, after which he will visit New York, the United States, from October 22 to 24. In addition to attending the APEC Finance Ministers’ Meeting during his visit to Lima, Peru, Mr Chan will have bilateral meetings with officials of other economies to exchange views on issues of mutual concern. He will also attend a luncheon hosted by the APEC Business Advisory Council and meet with members of business communities from various regions. With a theme of “Sustainable + Digital + Resilient = APEC”, this year’s Finance Ministers’ Meeting will explore topics including global economic and financial outlook, fostering green and sustainable development, providing financial support to tackle climate change, as well as digitalisation of finance and financial inclusion. During his visit to New York, Mr Chan will attend the Global Regulatory Forum organised by Bloomberg and deliver a keynote speech. He will also join a number of breakfast meetings and luncheons to meet and exchange views with members of the political, business and financial communities in the United States, and promote Hong Kong’s advantages and opportunities. Mr Chan will also visit local enterprises. Mr Chan will leave New York on October 24 local time and arrive in Hong Kong in the early evening of October 25. During his absence, the Deputy Financial Secretary, Mr Michael Wong, will be the Acting Financial Secretary.
Ends/Friday, October 18, 2024Issued at HKT 14:00NNNN
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MIL-OSI Asia-Pac: FS to visit Peru and the US
Source: Hong Kong Information Services
Financial Secretary Paul Chan will depart for Peru this evening to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting and other related events in the country’s capital Lima, before heading to New York City in the US.
Under the banner “Sustainable + Digital + Resilient = APEC”, this year’s finance ministers’ meeting will explore the global economic and financial outlook, how to foster green and sustainable development, the provision of financial support to tackle climate change, digitalisation in finance, and financial inclusion. In addition to attending the APEC event, Mr Chan will hold bilateral meetings with officials from other economies to exchange views on issues of mutual concern. He will also attend a lunch hosted by the APEC Business Advisory Council.
During his visit to New York, the Financial Secretary will deliver a keynote speech at the Global Regulatory Forum, organised by Bloomberg.
In addition, Mr Chan will attend a number of breakfast meetings and lunches to promote Hong Kong’s advantages and opportunities. He will also visit local enterprises.
Mr Chan will arrive back in Hong Kong on October 25. During his absence, Deputy Financial Secretary Michael Wong will be Acting Secretary.
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MIL-OSI Australia: Consumer law reform: consumer protections gain momentum with latest announcements
Source: Allens Insights
Stronger guarantees, AI rules and ban on unfair trading 10 min read
The Federal Government has signalled its commitment to advancing major consumer law reforms with three key announcements this week that included proposals to strengthen consumer guarantees, ban unfair trading practices and introduce artificial intelligence (AI) specific protections—all of which could significantly alter the landscape for both suppliers and manufacturers.
With Government seeking feedback on these reforms, companies should stay informed and actively engage in consultation processes to ensure any changes are fit for purpose and take into consideration relevant business concerns. In addition, companies should consider how these proposals could impact their businesses and take steps to ensure compliance and mitigate risks.
In this Insight, we provide an update on the proposals so far and their potential implications for business.
Key takeaways
- Treasury is seeking feedback on updates to the consumer guarantees regime, including civil prohibitions and penalties for suppliers or manufacturers that fail to provide remedies for consumer guarantees, and for manufacturers who fail to indemnify suppliers as required by the Australian Consumer Law (ACL).
- The Prime Minister’s office has announced plans for a ban on unfair trading practices, though details on the specific legislation are still pending. The ban is expected to include a general prohibition on unfair trading practices, along with specific prohibitions against issues like drip pricing, subscription traps and misleading online practices that create a false sense of urgency.
- Treasury is seeking feedback on whether it should expand the ACL to cover AI-specific consumer law issues, including mandatory guardrails with specific requirements for AI-related consumer products and services and reforming remedies to better suit defective AI-enabled goods and services.
Moves to strengthen the consumer guarantees regime
On 16 October 2024, the Government announced plans to introduce new civil prohibitions and penalties for breaches of the consumer guarantees and supplier indemnification (CGSI) provisions of the ACL. The announcement was accompanied by a Consultation Paper seeking stakeholder feedback on how the proposed prohibitions and penalties should be designed.
This announcement builds on a consultation undertaken in 2021 on ways to improve CGSI provisions of the ACL and incorporates findings from the 2023 Australian Consumer Survey, including that consumers find it difficult to obtain remedies for consumer guarantees failures. The Consultation Paper notes that:
- for low-cost goods, consumers are less likely to enforce their statutory rights when it is cheaper and easier to ‘just buy another one’ or to pay for a repair; and
- for high-value goods, consumers may struggle to understand the process involved in making a complaint and/or find it prohibitively time-consuming, costly or difficult to pursue one.
The proposed reforms seek to respond to a range of concerns with the status quo, including that:
- the difficulties outlined above mean costs can be transferred from a non-compliant supplier or manufacturer to a consumer and lead to poorer outcomes for consumers and the economy;
- suppliers and manufacturers lack incentives to comply with the consumer guarantees; and
- some suppliers may also face difficulties obtaining indemnification from manufacturers and/or face retaliatory behaviours if they seek to be indemnified.
The Government is seeking to respond to the concerns outlined above by introducing reforms that would:
- prohibit suppliers from refusing to provide remedies to consumers where there has been a major failure under the consumer guarantees (remedy failure prohibition);
- prohibit manufacturers from failing to indemnify suppliers;
- make it unlawful for a manufacturer to retaliate against a supplier for seeking indemnification following a consumer guarantees failure; and
- introduce civil penalties for contraventions of the prohibitions above, as well as an ability for regulators to issue infringement notices or pursue litigation where they have reasonable grounds to believe a contravention has occurred.
The Consultation Paper notes that the introduction of these prohibitions would enable ACL regulators to enforce the CGSI provisions in circumstances where rights are currently only enforceable by affected consumers and businesses. The Paper also acknowledges a submission made by the ACCC that, if regulators were able to take direct enforcement action, this would likely lead to greater judicial consideration of the consumer guarantees and result in greater clarity in the law.
Key issues the Government is seeking feedback on include:
- whether any aspects of the consumer guarantees need to be clarified prior to the introduction of prohibitions and penalties, noting concerns have previously been raised regarding whether penalties are appropriate in circumstances where concepts such as ‘reasonable consumer’ and ‘major failure’ are difficult to apply in practice;
- whether the remedy failure prohibition should apply to all goods and services or whether a value threshold should be applied and/or only be applied to new motor vehicles;
- at what amount an infringement notice or maximum civil penalty should be set; and
- if it is appropriate to factor in depreciation when determining an appropriate refund amount, noting that, at present, where there has been a major failure, a consumer is entitled to a replacement or full refund even where they have had the benefit of the use of a product for an extended period of time.
Treasury will engage with targeted stakeholders on the proposed design of the civil prohibitions and penalties and is seeking public feedback by Thursday 14 November 2024.
Anticipated ban on unfair trading practices takes shape
On Wednesday 16 October 2024, the Prime Minister’s office announced it will legislate a ban on unfair trading practices. The announcement is long awaited and follows the Federal Treasury’s consultation on the introduction of such a prohibition, which took place between August and November 2023 (the 2023 Consultation). The ACCC has previously recommended that an unfair trading practices prohibition be introduced into the ACL in a number of contexts, including the final report of the 2019 Digital Platforms Inquiry.
The Government’s media release states that the reforms are about ‘easing the cost of living and getting a fair go for consumers and suppliers’. It non-exhaustively identifies the following practices that the reforms will address:
- subscription traps: arduous and confusing steps that make cancelling a subscription difficult;
- drip pricing: practices where fees are hidden or added throughout the stages of a purchase;
- deceptive or manipulative online practices: practices that aim to confuse or overwhelm consumers, omit or hide material information, or create a false sense of urgency (such as warnings that a customer only has limited time to purchase a product);
- dynamic pricing: changing the price of a product during the transaction process;
- accounts and information provisions: requiring consumers to set up an account and provide unnecessary information to make an online purchase; and
- reporting of issues: making it difficult for a consumer to contact a business when they have a problem with a product or service.
The Government is yet to release any specific legislative drafting or design for consultation and has foreshadowed a final reform proposal in the first half of 2025.
Enhancing Australian consumer law to address AI
On 15 October 2024, Treasury released a Discussion Paper which examines whether the ACL remains fit for purpose to protect consumers from the potential harms of the use of AI. The ACL currently contains a combination of both general and specific consumer protections which are technology-neutral, and Treasury is consulting on whether any changes to the ACL targeted specifically towards AI-enabled goods and services are necessary.
Treasury has indicated that new and targeted consumer protections may be introduced:
- Specific prohibitions on false and misleading representations in relation to AI and emerging technologies. Treasury raised concerns in relation to the opacity of AI systems and difficulty in predicting AI system behaviour, such as erroneous output and unwanted bias, which may increase the risk of false or misleading representations about AI-enabled goods and services, and misleading and deceptive conduct in general. In light of this, Treasury is considering whether specific prohibitions in relation to false and misleading representations, targeted towards AI-enabled goods and services, are necessary to ensure the ACL is fit for purpose in the future. Recently, the Federal Trade Commission (FTC) took law enforcement action in the United States against the alleged use of AI technology in a deceptive and unfair manner.
- Specific consumer guarantees provisions targeted towards AI and emerging technologies. Treasury has considered views that the unique characteristics of AI may require new consumer guarantees, eg guarantees relating to cybersecurity, interoperability and the provision of software updates for a reasonable period. Treasury acknowledged that some cybersecurity risks of certain AI-enabled goods will be captured by the Government’s ongoing 2023-2030 Australian Cyber Security Strategy, but it is still considering the need for bespoke consumer protections for digital products overall, such as those adopted in the United Kingdom under the Consumer Rights Act 2015 (UK).
- New product safety standards targeted towards AI and emerging technologies. There are currently no mandatory AI-specific safety standards for consumer goods or product-related services, and Treasury is assessing whether current safety standards (which include the current Voluntary AI Safety Standard) effectively guarantee the safe and responsible use of AI-enabled goods and services. Treasury is considering options for mandatory guardrails in this consultation. See our Insight on preparing for voluntary AI standards and mandatory legislation for more information.
- Prescriptions under the unfair contract terms (UCT) regime. Treasury has noted stakeholder concerns about the possible risks to consumers arising from terms that exclude supplier and manufacturer liability in relation to AI-enabled goods and services, and is currently considering whether such terms (and similar) should be deemed as UCTs.
Treasury has flagged that there is a need for greater clarity in the ACL in relation to AI and emerging technologies, due to the technology-neutral nature of the current language of the ACL. In principle, the existing general ACL framework should be able to address AI-related concerns, but there is uncertainty over the following issues:
- The definition of AI-enabled goods and services, and whether this fits within the current definitions under the ACL. Whether something is a ‘good’ or a ‘service’ affects the remedies available under consumer guarantees, particularly considering the specific liability imposed on manufacturers of goods with safety defects. AI-enabled goods and services are generally a ‘mixed supply’ of goods and services, but consumers cannot claim for both a faulty good and service arising from a single transaction. Treasury is seeking to clarify this distinction for consumers in the context of AI-enabled goods and services.
- Potential limitations of principles-based consumer guarantees. The current consumer guarantees regime contains a range of principles-based provisions that include concepts such as ‘fitness for purpose’, ‘acceptable quality’ and ‘due care and skill’. Treasury has received concerns that it is unclear how these principles-based standards may apply in the context of AI-enabled goods and services. An example is the concept of ‘durability’, which is currently set out under the ACL as a factor for assessing the acceptable quality of a product.
Treasury has identified particular difficulties that consumers may face when accessing remedies related to AI and emerging technologies. It noted the following concerns regarding the applicability of a manufacturer’s liability for goods with safety defects (as under the ACL) in relation to AI-enabled goods and services:
- The evidentiary burden of establishing a causal link between the safety defect and consumer loss and damage. The specific characteristics of AI systems, such as opacity, autonomous behaviour and complexity, may make it more difficult for consumers to meet this burden of proof. Treasury is considering approaches from other jurisdictions, such as that in the EU under the proposed AI Liability Directive, which includes a ‘presumption of causality’ where a number of conditions are met, shifting the onus to manufacturers to demonstrate that no causal link to consumer loss or damage exists.
- Defences available to manufacturers. There is a concern that the current defences listed under the ACL available to manufacturers may not be appropriate for AI-enabled goods and services. For example, the defence that the safety defect did not exist at the time that a good was supplied reflects a traditional position that manufacturers retain little or no ongoing control over the goods that they supply, which is not always applicable to AI-enabled goods and services.
The deadline for stakeholder feedback and written submissions on Treasury’s review of AI and the ACL is Tuesday, 12 November 2024.
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MIL-OSI Africa: GITEX GLOBAL puts 5G and Artificial Intelligence (AI) at the forefront of discussions to connect and empower tomorrow’s world
Source: Africa Press Organisation – English (2) – Report:
DUBAI, United Arab Emirates, October 18, 2024/APO Group/ —
5G emerged as a focal point at GITEX GLOBAL 2024 (www.GITEX.com), the world largest tech and startup event, with visitors getting a glimpse of the possibilities of the wireless technology with AI and its role to powering a hyperconnected future through groundbreaking innovations and insightful discussions.
The ‘Intelligent Connectivity’ event saw a combination of thought-provoking conversations and exhibitors displaying their powerful products and services that will revolutionise the world in the coming years. It comes at a time where GSMA projects a seismic shift in connectivity with 1.4 billion devices set to be linked with 5G by 2025, further fueling a USD $1.1 trillion IoT market within a USD $3.9 trillion mobile economy.
The expertly curated programme brought together some of the most influential voices from global enterprises and organisations including Khalid Murshed, Chief Technology & Information Officer at e&, Wang Hui, President, NCE Data Communication Domain at Huawei China and Thomas Lamanauskas, Deputy Secretary General at ITU Switzerland. They were also joined by Roque Lozano, SVP, Network Infrastructure MEA at Nokia, Kazuhiro Gomi, President and CEO of NTT Research and SG Chung, Chief AI Global Officer at SK Telecom.
Away from the stage, the showcase featured a diverse range of impressive technologies from leading exhibitors, Huawei, e&, Nokia, China Telecom, Ericsson, Cisco, and Beyon among them. These industry giants presented cutting-edge solutions, highlighting next-generation 5G applications with their participation underscoring GITEX GLOBAL’s role as a key platform for exploring the future of connectivity and digital transformation.
A glimpse into a 5G-advanced powered AI future
With 5G and AI on a verge to catalyse a paradigm shift in the telecommunications landscape, Khalid Murshed Chief Technology & Information Officer of e&, one of the largest telecommunications operators in the Middle East and North Africa region, explained the transformative impact of network capabilities.
He said: “5G and 5G advanced serve as a platform for everyone to come in to innovate with applications that can drive demand for the network to be enhanced further and further.”
“We have to build a network with the capabilities and then fit in the AI applications and this is what we’re doing hand-in-hand. We’re not just building a network for the sake of technology leadership. It’s a bilateral game by all means and we are building them to enable new cases while today we have live networks and private 5G.”
Another leading global provider of information and communications technology (ICT) infrastructure and smart devices, Huawei identifies several key technologies as the backbone of its solutions towards facilitating an intelligent future. 5G-Advanced (5G-A) remains vital to supporting rapid and low-latency communication – critical for building advanced applications, in addition to big, unified data, AI, and cloud computing.
AI and 5G fuelling the future of autonomous vehicles
The future of mobility and how autonomous vehicles can benefit from 5G was another highlight. Speaking in a panel, Siyuan Liu, Head of IoT Partnership & Strategy, Greater China, at China Unicom Global, said the company is accelerating its efforts into the AI and vehicle connectivity industries with 5G playing a central role.
She highlighted that 5G is vital for the growth of autonomous vehicles, reshaping society and helping make accurate decisions – all of which can enhance the efficiency of transportation and safety.
Large Language Models (LLMs) are disrupting industries all over the world and the telecommunications sector is no different. Wang Hui, President of Huawei NCE Data Communication Domain, highlighted that AI applications are being leveraged extensively in China’s autonomous vehicles and in AI health services.
Unleashing powerful innovations – superpower agent and all-electric supercar
Thousands of visitors were introduced to the most disruptive products and services powered by 5G in the most anticipated exhibition which attracted the leading tech enterprises and solution providers in telecoms, networks, and infrastructure. Attendees were not short of innovation options with game-changing partnerships and launches unveiled during the event.
e& announced a collaboration with Vodafone Business IoT to use the company’s Global SIM+ eSIM solution to provide in-vehicle connectivity and enhanced digital services for Mercedes-Benz AG drivers in the UAE. The service will be commercially available in the first half of 2025.
The company also displayed the Nissan Hyper-Force, an all-electric high-performance supercar, connected through e& UAE 5G SIM cards delivering the ultimate in-driving experience, and launched their new human-digital advisors, combining hologram technology and AI to cater to the diverse cultural nuances of Telecom customers in the UAE.
At Avaya’s stand, visitors saw how the company is creating superpower agents, powered by AI, showcasing new capabilities which can assist individuals to make scalable decisions that help businesses grow.
GITEX GLOBAL is seamlessly connecting the world’s largest network of tech events with GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX Nigeria, all part of its portfolio. These events are fostering collaboration and driving innovation to shape the tech landscape of tomorrow.
More information on GITEX GLOBAL, please visit http://www.GITEX.com
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MIL-OSI Europe: Results of the ECB Survey of Professional Forecasters for the fourth quarter of 2024
Source: European Central Bank
18 October 2024
- Inflation expectations at 2.4% for 2024 and 1.9% for 2025 and 2026; unchanged except for 0.1 percentage point downward revision for 2025; longer-term inflation expectations (for 2029) remain at 2.0%
- Real GDP growth expectations broadly unchanged; small downward revision for 2025 largely reflects a carry-over from weaker than previously expected growth in the second half of 2024
- Unemployment rate expectations unchanged; expected to average 6.5% in 2024 and 2025 but to decline to 6.4% in 2026 and in the longer term
Respondents’ expectations for headline inflation, as measured in terms of the Harmonised Index of Consumer Prices (HICP), were 2.4% for 2024 and 1.9% for both 2025 and 2026. These were unchanged except for a 0.1 percentage point downward revision for 2025, mainly reflecting expectations for lower oil prices. Expectations for core HICP inflation, which excludes energy and food, were revised upwards slightly for 2024, reflecting data outturns and more persistent than expected services inflation, but were unchanged thereafter. Longer-term expectations for both headline and core HICP inflation were unchanged at 2.0%.
Respondents expected real GDP growth of 0.7% in 2024, 1.2% in 2025 and 1.4% in 2026. Compared with the previous survey, the expectations for 2025 were revised down by 0.1 percentage points. The downward revision for 2025 largely reflects a carry-over from weaker than previously expected growth in the second half of 2024, with the expected quarterly growth profile thereafter largely unchanged. Longer-term growth expectations remained unchanged at 1.3%.
The expected profile of the unemployment rate was unchanged. Respondents continued to expect the unemployment rate to average 6.5% in 2024 and 2025, but to decline to 6.4% in 2026, and then to remain at 6.4% in the longer term.
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MIL-OSI Russia: Future managers of the State University of Management visited the Public Chamber
MILES AXLE Translation. Region: Russian Federation –
Source: State University of Management – Official website of the State –
On October 15, 2024, a career-oriented event was held in the Public Chamber of the Russian Federation for 30 students of the State University of Management with the participation of Associate Professor of the Department of Public and Municipal Administration Mikhail Polyakov and Assistant Professor of the Department Anna Khaustova.
An educational tour of the Chamber building was organized for young managers, during which the youth learned about the history of the organization and the events currently taking place on its premises. Students had the opportunity to take part in a round table discussion of issues of interest to them.
The following spoke at the meeting: Chairman of the Commission on Security and Interaction with the Public Monitoring Commission Mikhail Anichkin, Secretary of the Commission on Public Control and Work with Citizens’ Appeals Fyodor Nikitochkin, Deputy Chairman of the Corps “For Clean Elections” Alexey Peskov.
Representatives of the Public Chamber spoke about the principles and features of the organization’s work, as well as about the history, internal structure and mechanisms of interaction with government agencies. Fyodor Nitochkin focused on the issues of forming the membership corps of the Public Chamber of the Russian Federation and the features of the organization’s structure. Alexey Peskov told students about the organization of the election process and monitoring of their conduct, about electoral practice.
“You live in an academic atmosphere where everyone is equal. Everything depends on you from now on. I wish you stable knowledge, a strong character and clarity of goals!”, Mikhail Anichkin wished in conclusion.
A quiz was organized for the guests, after which the students were presented with unique samples of the Russian Constitution.
In the near future, the State University of Management and the Chamber of Commerce and Industry of the Russian Federation are planning to conclude an agreement that will allow university students to undergo practical training at the main institute of civil society in our country.
An internship at the Public Chamber will allow you to become familiar with work in your specialty, acquire professional knowledge, including experience in preparing public events, working with documents, and experience in search and research work for the high-quality preparation of your thesis.
At the end of the meeting, students from the State University of Management were invited to join the Chamber’s volunteer corps to help do good deeds together and promote the development of civil society in our country.
The event was held within the framework of the work plan of the project initiative support club “School of the Young Manager” of the Department of State and Municipal Equation of the State University of Management.
Subscribe to the TG channel “Our GUU” Date of publication: 10/18/2024
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.
Future managers of the State University of Management visited the Public Chamber
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MIL-OSI Security: Chinese National Pleads Guilty To Illegally Exporting Semiconductor Manufacturing Machine
Source: Office of United States Attorneys
SAN FRANCISCO – Lin Chen pleaded guilty in federal court today to illegally exporting U.S. technology to a prohibited end user in China, in violation of the International Emergency Economic Powers Act (IEEPA) and the Export Administration Regulations (EAR). The plea was accepted by the Hon. William Alsup, Senior U.S. District Judge.
In pleading guilty, Chen, 65, a citizen of the People’s Republic of China (PRC), admitted to acting on behalf of Jiangsu Hantang International Trade Group Corp., Ltd. (JHI), a company headquartered in Nanjing, PRC, to procure a wafer cutting machine on behalf of Chengdu GaStone Technology Co., Ltd. (GaStone), an entity located in Chengdu, PRC. Chen admitted to knowing that GaStone was designated on the U.S. Department of Commerce’s Entity List on Aug. 1, 2014. Federal regulations restrict the export of certain items to companies, research institutions, and other entities identified on the Department of Commerce’s Entity List. Under applicable Department of Commerce regulations, wafer cutting machines, which are used to cut thin semiconductors used in electronics (also known as silicon wafers), require a license for export to end-users such as GaStone.
According to the plea agreement, by no later than Dec. 4, 2015, Chen knew that GaStone was prohibited from receiving restricted exports without a license, including a DTX-150 Scribe and Break Machine, a machine for processing silicon wafer microchips. On approximately Dec. 10, 2015, Chen worked with a co-defendant to arrange the sale of a DTX-150 to GaStone by shipping it to the PRC in the name of JHI without an export license from Commerce. Chen used JHI’s status as an intermediary to conceal GaStone as the true end-user of the technology.
A federal grand jury indicted Chen on Dec. 1, 2020, charging him with conspiracy to violate IEEPA; submitting false electronic export information; smuggling; and IEEPA violations. Under the plea agreement, Chen pleaded guilty to count four, causing an unlawful export in violation of IEEPA. Defendant currently is released on bond.
Chen’s sentencing hearing is scheduled for January 28, 2025, before the Judge Alsup. The maximum statutory penalty for an IEEPA violation is up to 20 years in prison and a $1 million fine. However, any sentence will be imposed by the court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.
United States Attorney Ismail J. Ramsey, Federal Bureau of Investigation (FBI) Special Agent in Charge Robert K. Tripp, Homeland Security Investigations (HSI) Special Agent in Charge Tatum King, and Brent Burmester, U.S. Department of Commerce, Bureau of Industry and Security (BIS) Special Agent in Charge, San Jose Field Office, made the announcement today.
Assistant U.S. Attorney Colin Sampson and Brett Reynolds of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case with the assistance of Claudia Hyslop and Nina Burney. The prosecution is the result of an investigation by FBI, HSI, and BIS.
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MIL-OSI Global: What does China want from the next US president?
Source: The Conversation – UK – By Chee Meng Tan, Assistant Professor of Business Economics, University of Nottingham
During a Taiwan National Day speech on October 10, Taiwanese president Lai Ching-te said that Taipei was determined to defend Taiwan’s sovereignty against “annexation and encroachment”, and emphasised that “China has no right to represent Taiwan”.
China’s response was swift. Less than a week after Lai’s provocative speech, a record 153 Chinese war planes swarmed and surrounded Taiwan during a Chinese military exercise over 24 hours. Beijing’s intention was simple: issue Taipei a “stern warning” for what China considers a “separatist act”.
Beijing sees the island as a “sacred and inseparable part of China’s territory” that must return to the fold. The Taiwanese president sees things differently. Currently, the self-governing island has a different political system, and few Taiwanese are in favour of reunification with China.
Though Washington doesn’t have diplomatic relations with Taipei officially, it does have regular communication through back channels and a strong economic relationship. The island is a key US trading partner and is a major supplier of semiconductors which are critical to the production of computers and other technologies. It also sells arms to Taiwan, although this has reduced significantly under Joe Biden.
China has not ruled out taking Taiwan by force, and if it does, the US might come to the self-ruling island’s defence as indicated by Washington in the past.
China holds extensive military exercises around the island of Taiwan in October 2024. But Xi will be hoping the outcome of the 2024 US presidential election might bring a leader that would have a different attitude to Taiwan as well as helping China resolve its economic storm, which has resulted in a rising number of protests. So, between an outspoken Donald Trump and a seemingly even-tempered Kamala Harris, does Beijing have a favourite? And do either of them offer Xi anything new?
Taiwan and Xi’s legitimacy
Aside from Mao Zedong, the founder of the People’s Republic of China, Xi is the only sitting Chinese head of state without term limits and whose political ideology is enshrined in the Chinese constitution.
Xi could potentially prove his place in history by resolving China’s economic crisis. However, Beijing’s increasing isolation from the west due to its support of Russia’s Ukraine conquest makes this doubly hard.
Like it or not, Xi might have to ramp up whatever agenda Beijing has for Taiwan. If he could make sufficient progress towards unification, he may be hailed as one of the greats of the Chinese Communist Party, which would consolidate his status within the party, and distract from the nation’s economic woes.
Unlike Harris, who appears to take take alliances and partnerships seriously, Trump questions the benefits of many alliances forged by the US. In fact, the few times that he spoke about Taiwan centres on how the island state has taken America’s semiconductor business, and should pay more to the US for its defence.
So, would Trump come to Taiwan’s aid if China does invade Taiwan? Given the importance of semiconductors to electronics and AI, he just might. But Trump also has a reputation as a “dealmaker-in-chief”, so he might just cut a deal with Beijing, which erodes Taiwan’s independence. And that is likely to worry Taipei.
The Russia dilemma
As Russia’s “partner of no limits”, China has been supplying Russia with technology that fuels Russia’s war machinery against Ukraine. But this has strained Sino-western relations and earned Beijing trade and import restrictions, which hampers China’s economic recovery.
China could halt its aid to Russia to avoid western scrutiny, but that is not likely. Beijing needs a strong Russia to be a viable ally in its battle against a US-led world order, and to avoid being the focus of the west if Russia falters amid its conquest in Ukraine.
While Harris backs Kyiv and sees the war as a strategic and moral issue, Trump has criticised US aid to Ukraine. He also believes that Kyiv should provide concessions to Russia to end the war that Putin started in February 2022.
A future Trump administration might strengthen Russia by withdrawing support for Ukraine and lifting sanctions against Russia. And a more robust Russia is good news for Beijing.
US economic hostility
So, at first glance, Trump and Harris’s approaches towards China are different. Trump’s return to the White House could also intensify the trade war that he started in 2018, as tariffs on Chinese goods could go to as high as 60%. This might hasten the economic decoupling between the US and China.
Harris, on the other hand, wishes to “de-risk” China. This approach seeks to maintain US global interest while engaging with the east Asian economic behemoth. In such a scenario, Beijing might prefer a Harris presidency as it leaves room for negotiation.
However, Harris has relatively little foreign policy experience, and is expected to pick up where Joe Biden left off. This means the tariffs and technological restrictions that China faced under a Biden administration could stay under her presidency.
Another factor is Tesla founder Elon Musk, who is an ardent supporter of Trump, and may take a top job within a Trump administration.
How much influence the tech multi-billionaire actually has over Trump is uncertain. However, it’s worth noting that Musk has substantial business dealings in China, and might seek to lean on Trump if the former president’s policies harms Tesla’s interests.
With many of these factors unclear at the moment, Beijing will be hoping for a US leader who is more interested in economic wins than protecting Taiwan, and one that Xi can negotiate with to warm up relations between the two countries.
Chee Meng Tan 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. What does China want from the next US president? – https://theconversation.com/what-does-china-want-from-the-next-us-president-240516
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MIL-OSI Banking: Results of the ECB Survey of Professional Forecasters for the fourth quarter of 2024
Source: European Central Bank
18 October 2024
- Inflation expectations at 2.4% for 2024 and 1.9% for 2025 and 2026; unchanged except for 0.1 percentage point downward revision for 2025; longer-term inflation expectations (for 2029) remain at 2.0%
- Real GDP growth expectations broadly unchanged; small downward revision for 2025 largely reflects a carry-over from weaker than previously expected growth in the second half of 2024
- Unemployment rate expectations unchanged; expected to average 6.5% in 2024 and 2025 but to decline to 6.4% in 2026 and in the longer term
Respondents’ expectations for headline inflation, as measured in terms of the Harmonised Index of Consumer Prices (HICP), were 2.4% for 2024 and 1.9% for both 2025 and 2026. These were unchanged except for a 0.1 percentage point downward revision for 2025, mainly reflecting expectations for lower oil prices. Expectations for core HICP inflation, which excludes energy and food, were revised upwards slightly for 2024, reflecting data outturns and more persistent than expected services inflation, but were unchanged thereafter. Longer-term expectations for both headline and core HICP inflation were unchanged at 2.0%.
Respondents expected real GDP growth of 0.7% in 2024, 1.2% in 2025 and 1.4% in 2026. Compared with the previous survey, the expectations for 2025 were revised down by 0.1 percentage points. The downward revision for 2025 largely reflects a carry-over from weaker than previously expected growth in the second half of 2024, with the expected quarterly growth profile thereafter largely unchanged. Longer-term growth expectations remained unchanged at 1.3%.
The expected profile of the unemployment rate was unchanged. Respondents continued to expect the unemployment rate to average 6.5% in 2024 and 2025, but to decline to 6.4% in 2026, and then to remain at 6.4% in the longer term.
