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Category: Commerce

  • MIL-OSI Asia-Pac: SCED visits Singapore to foster closer trade and economic ties (with photos)

    Source: Hong Kong Government special administrative region

    SCED visits Singapore to foster closer trade and economic ties (with photos)
    SCED visits Singapore to foster closer trade and economic ties (with photos)
    ****************************************************************************

         ​The Secretary for Commerce and Economic Development, Mr Algernon Yau, met with senior officials and business leaders in Singapore to deepen trade and economic ties, and explore collaboration opportunities on his visit to the country.      ​Mr Yau started his three-day visit on September 22. Hong Kong and Singapore have long been enjoying close and cordial bilateral trade and economic relations. Singapore is Hong Kong’s fourth-largest trading partner and largest partner among the Association of Southeast Asian Nations (ASEAN) member states in merchandise trade. Singapore is also Hong Kong’s seventh-largest investor and sixth-largest destination of outward investment.      ​During the visit, Mr Yau met with representatives from major business chambers of Singapore, including the Singapore Business Federation, the Association of Small & Medium Enterprises of Singapore, the Singapore International Chamber of Commerce and the Singapore Chinese Chamber of Commerce & Industry respectively to update them on Hong Kong’s latest development and measures on assisting enterprises in setting up businesses in Hong Kong. He also appealed to the Singaporean business sector to leverage Hong Kong’s unique advantages to explore the vast opportunities in the Mainland market, particularly the Guangdong-Hong Kong-Macao Greater Bay Area.      ​Meanwhile, Mr Yau had a lunch meeting with the Deputy Prime Minister and Minister for Trade and Industry of Singapore, Mr Gan Kim Yong, yesterday (September 23) to discuss various trade and economic issues and exchange views on the regional economic landscape. Mr Yau expressed gratitude to the support from Singapore for Hong Kong’s application for joining the Regional Comprehensive Economic Partnership (RCEP). He noted that Hong Kong always treasures Singapore as a valuable economic partner both on its own and as a member of the ASEAN family. By joining the RCEP, Hong Kong can contribute to the wider and deeper economic co-operation and integration in the region.      ​Mr Yau also paid a courtesy call on the Chinese Ambassador to Singapore, Mr Cao Zhongming, to update him on the latest situation of Hong Kong. He then had dinner with Hong Kong entrepreneurs and executives working in Singapore with a view to understanding their work and lives.      ​Mr Yau today (September 24) met with the Chairman of the Singapore Economic Development Board, Mr Png Cheong Boon, to learn about the latest developments of Singapore and exchange views on investment promotion. Mr Yau said he looked forward to further collaboration between Hong Kong and Singapore in different areas with a view to fostering even closer relations between the two economies.      ​Mr Yau concluded his visit and will return to Hong Kong this evening.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050

    Source: Government of Sweden

    Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050 – Government.se

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    Press release from Ministry of Climate and Enterprise

    Published

    Yesterday, 23 September, Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch took part in a meeting between ministers and other high representatives of countries that backed a COP28 declaration on the need to triple production of nuclear energy by 2050. In conjunction with the meeting, global banks and financial institutions backed the countries’ ambition to increase production of electricity from nuclear energy.

    During the meeting, discussions touched on how to proceed from the declaration and how the countries could jointly realise this collaboration. Representatives of global banks and financial institutions took part in discussions on how to finance large-scale expansion. 

    “One of the greatest obstacles to the necessary expansion of nuclear energy is to secure financing. Governments, financial institutions and industry have critical roles to play in this endeavour. I am delighted by this decision, which attests to the shared view of nuclear energy’s importance among both governments and the financial sector,” says Ms Busch. 

    Countries that support the declaration

    Sweden, Armenia, Bulgaria, Canada, Croatia, Czechia, Finland, France, Ghana, Hungary, Jamaica, Japan, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, Slovakia, Slovenia, South Korea, Ukraine, the United Arab Emirates, the United Kingdom and the United States.

    Background

    Interest for new nuclear energy is growing rapidly in many countries, including here in the EU. This applies both to countries that already have nuclear energy and those who had previously held a neutral or sceptical view of the technology. More and more countries are realising that everyone needs to secure fossil-free energy – both renewable and nuclear – to succeed in the green transition, strengthen competitiveness and achieve the climate goals. Major energy price increases following Russia’s invasion of Ukraine have also illustrated the importance of democratic countries not being reliant on dictatorships.

    Press contact

    MIL OSI Europe News –

  • MIL-OSI: Bitget Wallet Outlines Roadmap in TOKEN2049: Simplifying Web3 for the Next Billion Users

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 24, 2024 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, presented a vision centered around bringing blockchain technology to everyday users during TOKEN2049 in Singapore. Alongside engaging with the community at the TOKEN2049 conference, Bitget Wallet actively participated in various partner events to further discussions around Web3 innovation. Alvin Kan, COO at Bitget Wallet, shared the company’s strategy to make Web3 accessible by simplifying user experiences and integrating blockchain into daily life. “The next billion Web3 users will come from seamless, user-friendly experiences that erase the lines between Web2 and Web3,” he stated. Bitget Wallet’s growth underscores this vision, with the platform recently surpassing 30 million users worldwide and becoming the most downloaded Web3 wallet app globally, according to App Store and Google Play data.

    Bridging Web2 and Web3 with Simplified Payments

    Kan outlined Bitget Wallet’s plans to break down barriers between Web2 and Web3, starting with payments. In a fireside chat titled “Defining Payment” alongside leaders from Solana Foundation, Fireblocks, and DCS Card Centre, Kan revealed Bitget Wallet’s development of a Web3 payment solution with keyless access and cross-chain functionality, aiming to make crypto payments as intuitive as traditional ones. Bitget Wallet also plans to launch a crypto-to-fiat solution, enabling users to seamlessly convert and spend crypto on daily transactions while retaining full control over their assets in a self-custodial wallet.

    Redefining Gaming in the TON Ecosystem

    At the TON Open Art panel, Kan discussed Web3 gaming’s evolution with TON Foundation and other projects, highlighting Bitget Wallet’s involvement in the TON ecosystem. He pointed to gaming projects on TON are shifting from single-game models to robust ecosystems designed for long-term user engagement. Kan emphasized that future Web3 gaming will incorporate more long-term incentive mechanisms to ensure continuous participation, moving away from short-lived promotions like airdrops. He also stressed the growing role of social elements in gaming, particularly in Telegram mini-games that leverage the platform’s vast user base. “The next wave of Web3 gaming will integrate social aspects, making games within Telegram deeply immersive,” Kan noted.

    Fueling Web3 Ecosystem Growth

    At the Morph Consumer Day panel, Kan highlighted that consumer adoption of blockchain technology is the final unlock for Web3’s mass adoption, and real-life use cases will be the focus as more Web2 institutions coming into the space. Kan highlighted that Bitget Wallet has already partnered with over 100 mainnets, including major networks like Bitcoin, Ethereum, Solana, Base, and TON. These collaborations are part of Bitget Wallet’s broader strategy to create a long-term ecosystem by offering seamless user experiences and robust reward mechanisms, driving more decentralized applications (DApps) to mainstream user. Kan said: “Our focus is on empowering our partners, creating seamless user experience and developing long-term incentive structures to keep users engaged within the Web3 ecosystem.”

    About Bitget Wallet

    Bitget Wallet stands as one of the world’s leading non-custodial Web3 wallets and decentralized ecosystem platform. With the Bitget Onchain Layer, the wallet is well-poised to develop a burgeoning DeFi ecosystem through co-creation and strategic incubation. Aside from a powerful Swap function, Bitget Wallet also offers multi-chain asset management, smart money insights, a native Launchpad, Inscriptions Center, and an Earning Center. Supporting over 100 major blockchains, 250,000+ tokens, and a wide array of DApps, Bitget Wallet is your top wallet for asset discovery and Web3 exploration.

    For more information, visit: Website | Twitter | Telegram | Discord

    The MIL Network –

  • MIL-OSI China: China pledges joint efforts with ASEAN to build closer community with shared future: vice premier

    Source: People’s Republic of China – State Council News

    China pledges joint efforts with ASEAN to build closer community with shared future: vice premier

    NANNING, Sept. 24 — China is willing to work with the Association of Southeast Asian Nations (ASEAN) to deepen practical cooperation and write a new chapter in building a closer China-ASEAN community with a shared future, Chinese Vice Premier Ding Xuexiang said Tuesday.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when addressing the opening ceremony of the 21st China-ASEAN Expo and the China-ASEAN Business and Investment Summit in Nanning, south China’s Guangxi Zhuang Autonomous Region.

    China and ASEAN enjoy a long history of friendly relations and are good neighbors, good friends and good partners, Ding noted, adding that China and ASEAN have always been moving forward hand in hand, which has become the most successful and dynamic model of Asia-Pacific regional cooperation and a vivid example of promoting the building of a community with a shared future for mankind.

    China is advancing its efforts to build a great modern socialist country in all respects and pursue national rejuvenation through a Chinese path to modernization, which will bring great opportunities to the world, Ding said.

    China will continue to follow the principle of amity, sincerity, mutual benefit and inclusiveness in neighborhood diplomacy, deepen practical cooperation with ASEAN countries, and write a new chapter in building a closer China-ASEAN community of shared future, he added.

    Ding called on China and ASEAN countries to elevate strategic mutual trust to new heights. Efforts should be made to implement the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, further synergize their development strategies, and strengthen high-quality Belt and Road cooperation to better promote regional and global prosperity and stability, he said.

    He also called on China and ASEAN countries to advance open cooperation to a new level. Both sides should implement the Regional Comprehensive Economic Partnership Agreement (RCEP) with high quality, work for an early conclusion of the negotiations for version 3.0 of the China-ASEAN Free Trade Area (FTA), steadily expand institutional opening-up, and build a more stable and smooth cross-border industrial and supply chain, he added.

    China and ASEAN countries need to foster a new pattern of all-round connectivity, Ding said, urging the two sides to jointly build the New International Land-Sea Trade Corridor at a high level, and make solid progress in the development of important economic corridors and key projects.

    China and ASEAN countries should expand new areas of cooperation in science, technology and innovation, Ding said, adding that the two sides should jointly implement China-ASEAN science and technology innovation enhancement program, accelerate the construction of platforms such as joint laboratories, and ensure that more innovative achievements benefit the people of both sides.

    Ding also urged China and ASEAN countries to cultivate new highlights in mutual understanding and affinity among the people. Taking the China-ASEAN Year of People-to-People Exchanges as an opportunity, Ding said the two sides should further deepen exchanges and cooperation in culture, tourism, training, youth, and solidify the public opinion foundation of bilateral relations.

    Malaysia’s Prime Minister Anwar Ibrahim delivered a video address. Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers of Cambodia Vongsey Vissoth, Deputy Prime Minister of Laos Kikeo Khaykhamphithoune, and Deputy Prime Minister and Minister of Finance of Vietnam Ho Duc Phoc, as well as Secretary-General of ASEAN Kao Kim Hourn attended the opening ceremony and delivered speeches successively.

    After the opening ceremony, Ding toured the exhibition hall and exchanged views with the heads of the exhibitors.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today

    Source: Hong Kong Government special administrative region

    Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today
    Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today
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          The Labour Department (LD) held the Good Employer Charter 2024 (Charter 2024) Presentation Ceremony and the Good Employee Recognition Campaign Kick-off Ceremony today (September 24), commending all good employers while launching the Good Employee Recognition Campaign.       Speaking at the ceremony, the Secretary for Labour and Welfare, Mr Chris Sun, expressed gratitude to every good employer for implementing flexible work arrangements and offering assistance to employees to enable them to balance the needs of work and personal lives, which are conducive to unleashing the potential of the local labour force.      Various sectors have supported the Charter 2024, with a total of 1 596 organisations being accredited as signatories, representing an increase of nearly 70 per cent from the previous term. Among them, 1 002 organisations are authorised to use the “Supportive Family-friendly Good Employer” logo which symbolises a commitment to promoting a family-friendly employment culture. Moreover, 318 organisations have been signatories for three consecutive terms with consistent good human resource management practices in place. Representatives from three signatories of the Charter 2024 shared their successful experiences in carrying out good human resource management and family-friendly employment practices at the event today.       In furtherance of the Charter 2024, the LD launched for the first time the Good Employee Recognition Campaign to encourage participating signatories to nominate their employees to join the Campaign to express their gratitude and recognition for their contributions. Good employees can be measured in the following five key aspects, namely work ability, attitude to clients, adaptability, team spirit, and a sense of belonging to the organisation. Nominated employees or teams being accredited by the panel of judges will each be awarded the Good Employee Commendation Certificate and a lapel pin to recognise their outstanding performances and contributions to the organisations.      The Presentation Ceremony and the Kick-off Ceremony is one of the signature events in celebration of the 75th anniversary of the founding of the People’s Republic of China. Mr Sun said that the current-term Government attached great importance to improving employees’ benefits, promoting employment, and protecting the occupational safety and health of employees. He hoped that different groups in society would continue to support the government-led Charter and the Good Employee Recognition Campaign, and work together closely to foster win-win labour relations as well as a harmonious and inclusive community.      The LD has published a newspaper supplement introducing the Charter 2024 and the Good Employee Recognition Campaign as well as major initiatives of the current-term Government to improve employees’ rights and benefits. For details of Charter 2024 and the Good Employee Recognition Campaign, please visit the website: www.gec.labour.gov.hk.     The Good Employer Charter has come to its third round since it was first awarded in 2018, and is supported by eight organisations, namely the Chinese General Chamber of Commerce, Hong Kong; the Chinese Manufacturers’ Association of Hong Kong; the Employers’ Federation of Hong Kong; the Federation of Hong Kong Industries; the Hong Kong General Chamber of Commerce; the Hong Kong General Chamber of Small and Medium Business; the Hong Kong Institute of Human Resource Management, and the Hong Kong Small and Medium Enterprises Association. The aforementioned organisations, together with the Hong Kong Federation of Trade Unions and the Federation of Hong Kong and Kowloon Labour Unions, are supporting organisations of the Good Employee Recognition Campaign. 

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Samsung’s Biggest Festive Sale ‘Fab Grab Fest’ is back with Never-seen Before Deals & Offers on Smartphones, Digital Appliances, Smart Televisions, Monitors, Tablets & More

    Source: Samsung

     
    Samsung, India’s largest customer electronics brand, today announced its biggest festive sale ‘Fab Grab Fest’ starting 26th September, offering exciting deals and cashback on Galaxy smartphones, tablets, laptops, accessories, wearables, smart televisions, digital appliances and smart monitors. These never-before offers will be available on Samsung.com, Samsung Shop App and Samsung Exclusive Stores.
     
    Buy More Save More
    At heart of this festive sale will be Buy More Save More, where customers can avail an additional up to 5% discount when purchasing two or more products. This offer is only applicable on select smartphones, wearables, smart televisions and digital appliances while purchasing through Samsung.com or Samsung Shop App.
     
    As part of Buy More Save More, Consumers buying the Galaxy Z Fold6 can get Galaxy Buds FE at just ₹ 1249 in addition to all other applicable offers. Similarly, those buying the Galaxy Book4 can get a FHD Flat Monitor at just ₹ 1920. There are also a host of other products at no extra cost such as convection microwave when customer purchases the BESPOKE Family Hub Fridge & a Q-Symphony Soundbar when customers purchase the Neo QLED 8K Smart Television.
    Samsung’s commitment of delivering more value is what’s sets Fab Grab Fest apart. Beyond price discounts, bank cashback offers and exchange deals, ‘Buy More, Save More’ ensures that Samsung.com customers get a little extra for every purchase, whether it is smartphones, accessories, smart televisions or digital appliances.
     
    Fab Grab Fest will not only offer best prices but also unmatched value through Samsung’s trusted Direct-to Consumer channels. Alongside special deals, customers can be assured of the quality, authenticity, and product availability.
     
    During ‘Fab Grab Fest’, consumers can get up to 53% off on select models of the Galaxy Z series, Galaxy S series, and Galaxy A series smartphones. Select models of Galaxy Book4 series laptops will be available at a discount of up to 27% off, while specific models of Tab A9 and Tab S9 series, Buds3 Series, Galaxy Watch Series will have up to 74% off.
     
    The offers extend beyond smartphones with up to 43% off on Samsung Smart Televisions – Neo QLED 8K, Neo QLED, QLED, The Frame and  Crystal 4K UHD, The Freestyle projector. Additionally, customers purchasing select 55-inch and above models will be able to get their  hands on a free Samsung Smart Television or Soundbar. During this festive sale, Samsung will also extend a three- years Comprehensive Warranty for free on select 32″ and above Smart Televisions.
     
    Samsung’s monitors will be available at up to 67% off. Additionally, select smart and gaming monitors can fetch instant cart discount of up to ₹ 10000.
     
    The excitement doesn’t end here, Customers can get up to 39% off on a wide range of premium appliances such as Side by Side and French Door Refrigerators. They will also get a 20-year warranty on Digital Inverter Compressors. Front Load and Top Load washing machines of 8Kg and above capacity will have up to 28% off and 20 years warranty on Digital Inverter motor. There will also be an instant cart discount of up to ₹ 2000 on select 9Kg Fully Automatic Front Loading washing machines.
     
    Cashback on with ICICI, HDFC and SBI and other leading banks
     
    Consumers can enjoy up to 40% cashback (up to ₹ 15000) on select smartphones, tablets, wearables, and laptops when using debit and credit cards from ICICI, HDFC, and other leading banks during the Fab Grab Fest.
     
    Additionally, for purchases of select smart televisions and digital appliances customers can avail up to 22.5% cashback (up to ₹ 25000) when using debit or credit cards from ICICI, HDFC, SBI and other leading banks as part of the Fab Grab Fest offers.
    Fab Grab Fest Offers
    Products / Category
    Consumer Offer
    Highlight Models
    Smartphones
    Up to 53% off
    Galaxy Z Fold6, Galaxy Z Flip6, Galaxy S24 Ultra, Galaxy S24+, Galaxy S24, Galaxy S23 Ultra, Galaxy S23+, Galaxy S23, Galaxy S23 FE, Galaxy A55 5G, Galaxy A35 5G, Galaxy M35 5G, Galaxy M15 5G, Galaxy F55 5G
    Laptops
    Up to 27% off
    Galaxy Book4 Pro 360, Galaxy Book4 Pro, Galaxy Book4 360, Galaxy Book4
    Tablets, Accessories & Wearables
    Up to 74% off
    Galaxy Tab S10 Series, Galaxy Tab S9 Series, Galaxy Tab S9 FE+, Galaxy Tab S9 FE, Galaxy Tab A9+, Galaxy Tab A9, Galaxy Watch7 Series, Galaxy Watch Ultra, Galaxy Watch FE, Galaxy Buds3 Pro, Galaxy Buds3, Galaxy Buds FE, Galaxy Fit3
    TVs
    Up to 43% off
    Special Offer: Free Neo QLED 8K, Neo QLED, Crystal 4K UHD TVs and Soundbars*
    3 Years Comprehensive Warranty^
    Neo QLED 8K, QLED, The Frame, Crystal 4K UHD, The Freestyle
    *Select 55″ & above TVs
    ^Select 32″ and above TVs
    Refrigerators
    Up to 39% off
    20 Years warranty on Digital Inverter Compressor
    Get Instant Cart Discount of up to ₹ 5000**
    Starting EMI : ₹ 3990 /mo. for French Door Refrigerators & Side by Side RefrigeratorsSpecial Offer :  – Buy Side by Side or French Door Refrigerators and get one year extended warranty at ₹ 449~
    All Side by Side and French Door Refrigerators
    **Select Side by Side refrigerators
    ~ Select Side by Side & French Door refrigerators (RF87 / RF90)
    Washing Machines
    Up to 28% off
    20 years warranty on Digital Inverter motor
    Fully Automatic Front Loading: Starting EMI ₹ 1990
    Fully Automatic Top Loading: Starting EMI ₹ 990
    Get instant cart discount of up to ₹2000^^^
    All Front Load >= 8Kg | Top Load > =8Kg washing machines
    ^^^ Select 9Kg Fully Automatic Front Loading models
    Microwaves
    Up to 31% off
    10-year warranty on Ceramic Enamel Cavity
    Get Instant Cart Discount of up to ₹ 500~~
    All Microwaves
    ~~ Select 28L Convection microwave ovens
    Monitors
    Up to 67% off
    Get instant cart discount of up to ₹ 10000***
    All Monitors
    ***Select Smart and Gaming monitors
    Bank Cashback
    Up to 40% cashback with ICICI, HDFC,  and other leading bank debit and credit cards (Up to ₹ 15000) ##
    Up to 22.5% cashback with ICICI, HDFC, SBI and other leading bank cards (Up to ₹ 25000)^^
    ## Smartphones, tablets, wearables, and laptops.
    ^^ Select TVs & Digital Appliances
     

    MIL OSI Economics –

  • MIL-OSI Europe: Sweden’s and Finland’s Governments held historic meeting in Stockholm

    Source: Government of Sweden

    Sweden’s and Finland’s Governments held historic meeting in Stockholm – Government.se

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    Article from Prime Minister’s Office

    Published

    On 16 September, Sweden’s Government received Finland’s Government for a joint meeting. They adopted a declaration on enhanced cooperation between the countries, and the countries’ ministers took part in almost 20 visits and activities around Stockholm.

    The joint meeting was the second ever for Sweden and Finland, and the first for the two countries on Swedish soil. It lasted two hours and resulted in the signing of a joint declaration on enhanced cooperation between the countries.

    Prime Minister Ulf Kristersson – who described Finland as Sweden’s closest partner ahead of the meeting – held a joint press conference at Rosenbad together with Finland’s Prime Minister Petteri Orpo to discuss the declaration and enhanced cooperation.

    The declaration includes the efforts for a secure, green and free Nordic region, the importance of continued strong support to Ukraine, cooperation to strengthen competitiveness at national and EU levels and enhanced cooperation on law enforcement. The ambition of attracting highly qualified international workers, enhanced cooperation in the areas of research, development and innovation, joint efforts to promote children’s and young people’s health and continued cooperation in the areas of culture and international tourism are also included.

    The Swedish and Finnish ministers took part in a large number of visits and activities around Stockholm in the afternoon. These included visits to a higher vocational education institution, a fire station, the Baltic Sea Science Center at Skansen, Värtaverket’s thermal power station, the ports of Stockholm, a family centre and school in Rinkeby, the Swedish Social Insurance Agency headquarters and the Royal Swedish Academy of Sciences.

    Mr Kristersson, Mr Orpo, Sweden’s Minister for Energy, Business and Industry Ebba Busch and Finland’s Minister of Economic Affairs Wille Rydman also took part in a business seminar held by the Confederation of Swedish Enterprise and the Confederation of Finnish Industries at Storgatan to discuss how to jointly enhance Sweden’s, Finland’s and the EU’s competitiveness.

    The day concluded with a mingle in the Sager House and a dinner and art tour at Sven-Harrys konstmuseum.

    MIL OSI Europe News –

  • MIL-OSI Europe: Sweden launches new multi-year support to Global Alliance for Trade Facilitation

    Source: Government of Sweden

    Sweden launches new multi-year support to Global Alliance for Trade Facilitation – Government.se

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    Press release from Ministry for Foreign Affairs

    Published

    In 2024–2026, Sweden will provide SEK 30 million to the Global Alliance for Trade Facilitation. Together with governments and businesses, the Alliance promotes economic development and poverty reduction by making it easier for developing countries to participate in world trade.

    In 2024–2026, Sweden will provide SEK 30 million to the Global Alliance for Trade Facilitation. Together with governments and businesses, the Alliance promotes economic development and poverty reduction by making it easier for developing countries to participate in world trade. 

    “The Alliance has shown that targeted measures promoting cooperation between governments and businesses have great potential to create economic growth through increased trade in developing countries. Creating synergies between development cooperation, promotion and trade policy is a key part of the Government’s reform agenda for Swedish development assistance,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

    Businesses in developing countries often face a variety of challenges when they want to take part in the global economy. These may include complex customs procedures, inefficient border management and a dependence on paper certificates. Such trade barriers restrict developing countries’ ability to benefit from international trade and thereby reduce poverty. The Alliance works in close cooperation with governments and businesses in developing countries to identify practical projects where state actors and companies can work together to implement reforms and new ways of working that simplify trade. 

    When implementing projects, the Alliance works closely with both local businesses and multinational companies. The Alliance is currently carrying out around 20 projects around the world, primarily in the least developed countries.

    This support is in line with the Government’s overall ambition to create conditions for developing countries and for people to move from poverty to prosperity through trade and economic development.

    Sida will allocate the support, which comprises SEK 10 million annually over three years. It will be financed through the Strategy for Sweden’s global development cooperation in sustainable economic development 2022–2026.

    About the Global Alliance for Trade Facilitation

    The Alliance was founded in 2015, when a number of donor countries saw the importance of involving the business sector in implementation of the World Trade Organization (WTO) Trade Facilitation Agreement. The Alliance is led by the Center for International Private Enterprise, the International Chamber of Commerce and the World Economic Forum – in cooperation with Gesellschaft für Internationale Zusammenarbeit, a German international cooperation organisation.

    Press contact

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: StartmeupHK Festival 2024 showcases Hong Kong’s thriving start-up ecosystem (with photos)

    Source: Hong Kong Government special administrative region

         The annual StartmeupHK Festival is set to return to Hong Kong from October 21 to 25, 2024, following its previous successes. Curated by Invest Hong Kong (InvestHK) and themed “A Future Unlimited”, this year’s Festival will delve into contemporary topics such as AI, web3, GameFi, responsible tech, healthtech, greentech, sustainability, and more. As Asia’s premier start-up event, the festival anticipates participation from over 12 000 start-ups, investors, and technology enthusiasts from around the world.

         Featuring five main events and a series of community events, what sets this year’s Festival apart is its inclusion of captivating activities in multiple locations across Hong Kong and beyond, with speakers ranging from global business leaders to some of the world’s most innovative entrepreneurs. The Festival will also host a lineup of interactive activities like conferences, debates, exhibitions, pitching competitions, and additional networking opportunities. The Startups team of InvestHK has been conducting roadshows across Asia, Europe, and the Middle East to promote the Festival and position Hong Kong as an ideal location for start-ups to thrive in Asia.

         The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “I am thrilled to witness the triumphant return of this remarkable event, as it reaffirms Hong Kong’s leading position as a thriving hub for innovation and start-up success. Start-ups in Hong Kong enjoy a vibrant network of incubators and accelerators, a pool of experienced angels and venture capitalists, and a welcoming community of fellow entrepreneurs. This comprehensive ecosystem has fostered the growth of numerous unicorns and a rapidly expanding start-up landscape, covering diverse sectors such as fintech, retail tech, healthtech, and greentech.”
          
         She added, “The remarkable resilience and continued growth of Hong Kong’s start-up ecosystem are a testament to its attractiveness. Our 2023 Startup Survey revealed record-high figures, with 4 257 start-ups employing a total of 16 453 staff. This encouraging result can be attributed to favourable factors such as our simple tax system, low tax rate, accessibility to international and regional markets, accessibility to funding, business opportunities in Mainland China, and the free flow of information. Our strong entrepreneurial culture further reinforces Hong Kong’s position as a launchpad for start-ups seeking to access the Guangdong-Hong Kong-Macao Greater Bay Area and the broader Asian market.”
          
         The Head of Startups at InvestHK, Ms Jayne Chan, said, “This year’s StartmeupHK Festival is promised to be more impactful than ever, fostering stronger connections and collaborations among participants, enabling international investors and other key stakeholders to engage the city’s thriving start-up community. This year, we have curated the StartmeupHK Festival to explore the most influential and forward-thinking topics around innovation and technology, igniting the exchange of ideas and inspiring new initiatives that can unlock limitless possibilities for positive change.”
          
         She continued, “The Festival will include community events to enhance connections in the start-up ecosystem, such as a unique event where regional venture capital (VC) investors pitch to start-up founders, as well as fun activities such as a harbour run and Peak hike with members of the tech community. Additionally, the Start-ups team is conducting global roadshows in cities like London and Shanghai to showcase Hong Kong’s advantages, including access to talent, markets, and funding. These efforts will continue until the festival begins to promote Hong Kong and the Festival to a wider global audience.”
          
    Main events

         Day 1 (October 21) – As the opening event of the StartmeupHK Festival 2024, JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund will be held at the Asia Society Hong Kong Center. In addition to launching their JUMPSTARTER for One Earth global start-up competition to find companies committed to driving global positive change, the event will feature an AI theme with discussions on investments, trends and regional developments in this area.

         Day 2 (October 22) – Game On! 2024, hosted by MaGESpire, will celebrate the essence of gaming, art, music, and entertainment (GAME) industries at Soho House, Sheung Wan. If you are a hardcore gaming fan or art / music enthusiast or an entertainment aficionado keen to learn more about how new technologies are transforming this space, then you must join us!

         Day 3 (October 23) – LOUDER Connect, organised by LOUDER Global will be held at the Hong Kong Maritime Museum that will boasts a diverse network of global speakers, each brought together to collaborate and engage in meaningful conversations. The event will showcase a series of engaging Radical Debates, mentor-business matching, interactive workshops, and networking opportunities at the iconic Hong Kong Maritime Museum and Star Ferry.

         Day 4 (October 24) – Hosted by Brinc, the Asia Health Innovation Summit will be held at TOWER 535 in the vibrant district of Causeway Bay. This premier event will unite Asia’s health technology ecosystem, bringing together start-ups, professionals, investors and government to drive transformative innovation in healthcare. Key discussions include advancements in biotechnology, AI, MedTech, and wholistic well-being and more.

         Day 5 (October 25) – Organised by New World Development, 1.5°C Summit – The Defining Decade for Impact with Tech will be held at K11 Musea. This unique tech summit on climate change is dedicated to identifying and implementing the necessary actions to reduce emissions over the next decade. The event will convene leading experts, entrepreneurs, and stakeholders who are actively engaged in mitigating the effects of climate change. Participants will share their insights on how technology can revolutionise industries and foster a more sustainable future.

    Community events

         The StartmeupHK Festival 2024 will feature an engaging array of community events across Hong Kong, providing attendees with exceptional opportunities to discover innovative ideas and connect with a diverse network of people.

         October 20 – Led by Hong Kong’s experimental activity group, Rock & Run, join a group of like-minded individuals for the Victoria Peak Sunset Hike – a perfect way to end your day with stunning views!

         October 20 – With the support of Alibaba Entrepreneurs Fund, tap into the regional VC investors with rev Hong Kong, for insights into the propositions, and personalities, of your future potential backers at the Asia Society Hong Kong Center. Connect with top VCs, spanning Pre-Seed to Series B, as they pitch their funds in just five minutes, followed by your questions.

         October 21 and 24 – Start your day with an exclusive small-group breakfast designed for people leaders in a Head role across business and HR, to connect, collaborate, and inspire one another. People Leaders’ Breakfast Roundtable is a unique opportunity to exchange insights around strategies for leadership and people development for the talent landscape in Hong Kong, in a relaxed and closed-door setting. A limited 10-guest experience will be curated for each day.

         October 23 – In partnership with the Hong Kong British Chamber of Commerce and hosted by the Eaton Club, come check out the UK Tech Founders Showcase Event where leading tech founders from the UK will showcase their latest innovations and solutions. The evening features fireside chats with UK tech founders who will share their insights, providing a valuable opportunity to network with industry peers while enjoying drinks and light snacks.

         October 23 – To wrap up StartmeupHK Festival 2024, join Rock & Run for a Central Harbourfront Evening Run. It is going to be an amazing scenic run to see a different side of Hong Kong.

         October 24 – Join us for an evening of China PropTech Startup Expedition in partnership with UrbanLab and Hong Kong PropTech Association. This exclusive event will showcase Mainland China’s tech start-ups that have their sights set on global success through market development in Hong Kong and beyond.

    Road shows

         The Start-ups team has been going on road shows and will continue to promote Hong Kong and the Festival to a wider global audience.

         The London Startup Conference 2024 that was held on June 27 gathered start-up founders, investors, and industry experts for networking and workshops focused on business growth.

         Following this, IVS2024 KYOTO was held on July 5. Participants explored the intersection of Japan’s cultural heritage and modern technology, emphasising web2, web3, and AI advancements.

         On July 13, International Graduates & Returnees Entrepreneurship Sharing in Chengdu highlighted the entrepreneurial journeys of international students and returnees.

         The UrbanLab Global Expedition x Hong Kong 1.5°C Summit Briefing on August 16 witnessed discussions on the opportunities through Hong Kong, while the Georgian National Startup Competition on August 20 aimed to connect emerging market founders with investors.

         A series of Startup Nights in Beijing, Shenzhen, and Hangzhou throughout September also helped provide networking platforms for scaling start-ups in Asia.

         The Game On! 2024 – Dubai Edition event was held on September 13 to celebrate the gaming and entertainment industries, and The Latin Kaleidoscope event in Hong Kong on September 20 and 21 showcased Latin American culture and innovation.

         Last but not least, The Barcelona Startup Conference 2024 on October 1 will bring together local start-up leaders and investors for collaboration and growth opportunities.         

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Minister for Foreign Affairs Maria Malmer Stenergard and Minister for International Development Cooperation and Foreign Trade Benjamin Dousa met their Finnish counterparts at Swedish-Finnish government meeting

    Source: Government of Sweden

    Foreign ministers highlighted support to Ukraine 

    During the visit, Sweden’s Minister for Foreign Affairs Maria Malmer Stenergard and her Finnish counterpart Elina Valtonen took part in a panel discussion on Swedish-Finnish cooperation on support to Ukraine. 

    “Support to Ukraine is my top priority as Minister for Foreign Affairs, and it is particularly important that we discuss with Finland how best to continue supporting Ukraine,” Ms Malmer Stenergard said during the panel. Ms Valtonen also emphasised the value of Swedish-Finnish cooperation and stated that she was looking forward to ensuring even more in-depth joint efforts.

    The panel was moderated by Maud Holma von Heijne, Secretary-General of Folk och Försvar. The other participants were Torbjörn Becker, Director of the Stockholm Institute of Transition Economics, and Katarina Areskoug, former Head of the Representation of the European Commission in Sweden and Swedish representative in the Nordic-Baltic high-level group.

    Following the panel discussion, Elly Reinolds, co-founder of OperationAid, presented the organisation’s operations in Ukraine, providing medical care close to the front line and activities for children affected by the war. This year, Sweden has contributed SEK 5 million to its ActiveKids project, which aims to strengthen children and young people and offer them respite, as well as mitigating mental health issues.

    Minister for International Development Cooperation and Foreign Trade discussed support to scale-ups 

    In connection with the government meeting, a seminar was also held on support to Swedish and Finnish scale-ups, with a focus on financing and internationalisation. Minister for International Development Cooperation and Foreign Trade Benjamin Dousa and his Finnish counterpart Ville Tavio were the hosts. Along with businesses, investors and organisations, they discussed how Sweden and Finland can create the best conditions for scale-ups to grow.

    “It’s clear that there’s huge engagement among those represented here today. Together we can make a difference. Scale-ups are innovative and knowledge-intensive businesses that, given the right conditions, can have an impact on society and entire sectors. It was inspiring to listen to the solution-oriented discussions, which also resulted in a number of concrete proposals,” says Mr Dousa.

    The seminar was organised by the Ministry for Foreign Affairs in cooperation with Business Sweden and Swedish Incubators and Science Parks (SISP), and was held at Epicenter, a creative meeting place for growing companies.

    MIL OSI Europe News –

  • MIL-OSI Economics: Secretary-General of ASEAN addresses China-ASEAN Business Leaders Forum

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today delivered his opening remarks at the China-ASEAN Business Leaders Forum under the framework of the 21st China-ASEAN Business and Investment Summit (CABIS). In his remarks, Dr. Kao stressed the importance of the RCEP and ACFTA as key to advancing ASEAN and China economic competitiveness, offering real opportunities for businesses. These has simplified customs procedures and harmonizes trade rules, making every cross-border business transaction more cost-effective and helping businesses reach new customers and suppliers.

    Download the full opening remarks here.

    The post Secretary-General of ASEAN addresses China-ASEAN Business Leaders Forum appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung’s Biggest Festive Sale ‘Fab Grab Fest’ is back with Never-seen Before Deals & Offers on Smartphones, Digital Appliances, Smart Televisions, Monitors, Tablets & More

    Source: Samsung

     
    Samsung, India’s largest customer electronics brand, today announced its biggest festive sale ‘Fab Grab Fest’ starting 26th September, offering exciting deals and cashback on Galaxy smartphones, tablets, laptops, accessories, wearables, smart televisions, digital appliances and smart monitors. These never-before offers will be available on Samsung.com, Samsung Shop App and Samsung Exclusive Stores.
     
    Buy More Save More
    At heart of this festive sale will be Buy More Save More, where customers can avail an additional up to 5% discount when purchasing two or more products. This offer is only applicable on select smartphones, wearables, smart televisions and digital appliances while purchasing through Samsung.com or Samsung Shop App.
     
    As part of Buy More Save More, Consumers buying the Galaxy Z Fold6 can get Galaxy Buds FE at just ₹ 1249 in addition to all other applicable offers. Similarly, those buying the Galaxy Book4 can get a FHD Flat Monitor at just ₹ 1920. There are also a host of other products at no extra cost such as convection microwave when customer purchases the BESPOKE Family Hub Fridge & a Q-Symphony Soundbar when customers purchase the Neo QLED 8K Smart Television.
    Samsung’s commitment of delivering more value is what’s sets Fab Grab Fest apart. Beyond price discounts, bank cashback offers and exchange deals, ‘Buy More, Save More’ ensures that Samsung.com customers get a little extra for every purchase, whether it is smartphones, accessories, smart televisions or digital appliances.
     
    Fab Grab Fest will not only offer best prices but also unmatched value through Samsung’s trusted Direct-to Consumer channels. Alongside special deals, customers can be assured of the quality, authenticity, and product availability.
     
    During ‘Fab Grab Fest’, consumers can get up to 53% off on select models of the Galaxy Z series, Galaxy S series, and Galaxy A series smartphones. Select models of Galaxy Book4 series laptops will be available at a discount of up to 27% off, while specific models of Tab A9 and Tab S9 series, Buds3 Series, Galaxy Watch Series will have up to 74% off.
     
    The offers extend beyond smartphones with up to 43% off on Samsung Smart Televisions – Neo QLED 8K, Neo QLED, QLED, The Frame and  Crystal 4K UHD, The Freestyle projector. Additionally, customers purchasing select 55-inch and above models will be able to get their  hands on a free Samsung Smart Television or Soundbar. During this festive sale, Samsung will also extend a three- years Comprehensive Warranty for free on select 32″ and above Smart Televisions.
     
    Samsung’s monitors will be available at up to 67% off. Additionally, select smart and gaming monitors can fetch instant cart discount of up to ₹ 10000.
     
    The excitement doesn’t end here, Customers can get up to 39% off on a wide range of premium appliances such as Side by Side and French Door Refrigerators. They will also get a 20-year warranty on Digital Inverter Compressors. Front Load and Top Load washing machines of 8Kg and above capacity will have up to 28% off and 20 years warranty on Digital Inverter motor. There will also be an instant cart discount of up to ₹ 2000 on select 9Kg Fully Automatic Front Loading washing machines.
     
    Cashback on with ICICI, HDFC and SBI and other leading banks
     
    Consumers can enjoy up to 40% cashback (up to ₹ 15000) on select smartphones, tablets, wearables, and laptops when using debit and credit cards from ICICI, HDFC, and other leading banks during the Fab Grab Fest.
     
    Additionally, for purchases of select smart televisions and digital appliances customers can avail up to 22.5% cashback (up to ₹ 25000) when using debit or credit cards from ICICI, HDFC, SBI and other leading banks as part of the Fab Grab Fest offers.
    Fab Grab Fest Offers
    Products / Category
    Consumer Offer
    Highlight Models
    Smartphones
    Up to 53% off
    Galaxy Z Fold6, Galaxy Z Flip6, Galaxy S24 Ultra, Galaxy S24+, Galaxy S24, Galaxy S23 Ultra, Galaxy S23+, Galaxy S23, Galaxy S23 FE, Galaxy A55 5G, Galaxy A35 5G, Galaxy M35 5G, Galaxy M15 5G, Galaxy F55 5G
    Laptops
    Up to 27% off
    Galaxy Book4 Pro 360, Galaxy Book4 Pro, Galaxy Book4 360, Galaxy Book4
    Tablets, Accessories & Wearables
    Up to 74% off
    Galaxy Tab S10 Series, Galaxy Tab S9 Series, Galaxy Tab S9 FE+, Galaxy Tab S9 FE, Galaxy Tab A9+, Galaxy Tab A9, Galaxy Watch7 Series, Galaxy Watch Ultra, Galaxy Watch FE, Galaxy Buds3 Pro, Galaxy Buds3, Galaxy Buds FE, Galaxy Fit3
    TVs
    Up to 43% off
    Special Offer: Free Neo QLED 8K, Neo QLED, Crystal 4K UHD TVs and Soundbars*
    3 Years Comprehensive Warranty^
    Neo QLED 8K, QLED, The Frame, Crystal 4K UHD, The Freestyle
    *Select 55″ & above TVs
    ^Select 32″ and above TVs
    Refrigerators
    Up to 39% off
    20 Years warranty on Digital Inverter Compressor
    Get Instant Cart Discount of up to ₹ 5000**
    Starting EMI : ₹ 3990 /mo. for French Door Refrigerators & Side by Side RefrigeratorsSpecial Offer :  – Buy Side by Side or French Door Refrigerators and get one year extended warranty at ₹ 449~
    All Side by Side and French Door Refrigerators
    **Select Side by Side refrigerators
    ~ Select Side by Side & French Door refrigerators (RF87 / RF90)
    Washing Machines
    Up to 28% off
    20 years warranty on Digital Inverter motor
    Fully Automatic Front Loading: Starting EMI ₹ 1990
    Fully Automatic Top Loading: Starting EMI ₹ 990
    Get instant cart discount of up to ₹2000^^^
    All Front Load >= 8Kg | Top Load > =8Kg washing machines
    ^^^ Select 9Kg Fully Automatic Front Loading models
    Microwaves
    Up to 31% off
    10-year warranty on Ceramic Enamel Cavity
    Get Instant Cart Discount of up to ₹ 500~~
    All Microwaves
    ~~ Select 28L Convection microwave ovens
    Monitors
    Up to 67% off
    Get instant cart discount of up to ₹ 10000***
    All Monitors
    ***Select Smart and Gaming monitors
    Bank Cashback
    Up to 40% cashback with ICICI, HDFC,  and other leading bank debit and credit cards (Up to ₹ 15000) ##
    Up to 22.5% cashback with ICICI, HDFC, SBI and other leading bank cards (Up to ₹ 25000)^^
    ## Smartphones, tablets, wearables, and laptops.
    ^^ Select TVs & Digital Appliances
     

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Winchester City Council’s new skills programme aims to tackle the digital divide

    Source: City of Winchester

    Winchester City Council is to launch a new programme to improve the digital skills of the district’s residents and tackle the issue of digital exclusion.

    Currently 18% of UK adults lack the essential digital skills that are needed for the workplace (source: Lloyds Consumer Index 2023) and 22% of people in the UK do not have the essential digital skills needed for everyday life (source: NHS Digital).

    The Essential Digital Skills development programme, which launches on Monday 7 October 2024, aims to help Winchester district residents of all ages and circumstances overcome challenges they may be facing, build resilience, improve confidence and gain support in developing critical digital skills.

    The new digital skills project 

    This will include: helping older generations feel more connected to the digital age; improving all residents’ lives through enabling access to education, employment and volunteering opportunities; and supporting the move into higher quality jobs and further training opportunities within the district.

    The project is being delivered in partnership with Hampshire-based digital training specialists WorkAdvisor Ltd. They will offer tailored one-to-one sessions, workshops and will run Microsoft Office-accredited courses. Residents taking part will use refurbished laptops to build the confidence they need to better understand digital platforms.

    The Essential Digital Skills development programme has received £50,000 from the UK government through the UK Shared Prosperity Fund.

    Winchester City Council’s Cabinet Member for Business and Culture Councillor Lucille Thompson said:

    “Research tells us that the Winchester district suffers from the digital divide and digital poverty just as much as other parts of the country; 84% of respondents to the Economy Team’s A Digital Winchester District survey agreed that digital skills tutoring and sessions would be helpful.

    “The Essential Digital Skills development programme is a great initiative that tackles the root causes of digital exclusion and will help our residents to get online safely and securely to discover all that digital has to offer, from keeping in touch with friends and relatives to applying for a job.”

    Director of Workadvisor Ltd Philip Price said:

    “We will be in the community delivering this development programme until the end of January 2025. District residents will gain experience in the basics, for example, how to use a laptop, set up and use email as well as a range of useful everyday applications including managing health, shopping, banking and paying bills.

    “Residents will experience how to search and apply for jobs, as well as some fun things! There will be the opportunity for free progression courses and self-paced learning for all.”

    To find out more and register for a one-to-one or group workshop, or to refer a friend or relative:

    Visit    https://www.winchester.gov.uk/business/employment/get-into-work

    Email info@workadvisor.co.uk

    Call    02381 550223

    MIL OSI United Kingdom –

  • MIL-OSI China: US-proposed ban on Chinese software in vehicles prompts strong backlash

    Source: China State Council Information Office

    The U.S. Commerce Department on Monday proposed a ban on Chinese-developed software and hardware in connected and autonomous vehicles, provoking a strong backlash from economists and observers.

    According to the measure, “malicious access” to the Vehicle Connectivity System and the Automated Driving System could allow “adversaries” to access and collect the most sensitive data and remotely manipulate cars on American roads. Adversaries, in this context, are China and Russia.

    The Biden administration acknowledged that few Chinese or Russian vehicles are currently on U.S. roads but noted that it wanted to take “proactive” measures, highlighting national security concerns.

    “I think that the U.S. government may be projecting the kind of malware itself plans to install in some connected systems,” Jeffrey Sachs, an economics professor and director of the Center for Sustainable Development at Columbia University, told Xinhua. “There is absolutely no evidence that China is doing so.”

    Sachs also noted that another aim is protectionism, “to damage Chinese EV exports to the U.S. and Europe.”

    Gary Clyde Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics, told Xinhua that the proposed rule represents a giant step towards decoupling. “The United States is not yet at war with China, but it is well along the decoupling path,” he said.

    Hufbauer, a former official at the U.S. Treasury Department, noted that National Security Advisor Jake Sullivan previously promised that U.S. restrictions on direct commerce with China would be confined to limiting the flow of advanced technologies with “a small yard and a high fence”. “The small yard has since grown into a large pasture with no discernable fence,” said Hufbauer.

    Earlier bans on Chinese tech giant Huawei and current efforts to force TikTok either to be sold to a U.S. firm or face a ban follow the same logic.

    Hufbauer added that if the latest proposed rule charts the future path of U.S. import bans, with no consideration of the cost to the U.S. economy, then it is only a matter of time before de-risking becomes decoupling.

    The New York Times viewed combating real and perceived Chinese threats as one of the few issues that have won both Democratic and Republican support, though “many experts on China believe that the fear of Beijing has gone too far — and that it is also hurting American consumers.”

    U.S. automakers “risk falling behind” if they do not have access to the latest technology, said the American daily, depicting China as the world’s largest car market that dominates the production of electric car batteries.

    “Rather than banning China’s technology, the United States and China should take cooperative and diplomatic steps to ensure that neither party nor other countries behave in this manner,” said Sachs.

    MIL OSI China News –

  • MIL-OSI USA News: Statement from President Joe  Biden on CHIPS and Science Act Final Award for Polar Semiconductor

    Source: The White House

    Semiconductors – those tiny chips smaller than the tip of your finger – power everything from smartphones to cars to satellites and weapons systems.  I signed the CHIPS and Science Act to revitalize American leadership in semiconductors, strengthen our supply chains, protect our national security, and advance American competitiveness. And over the last three and a half years, we have done just that, catalyzing over $400 billion in private sector investments in semiconductors and electronics that are creating over 115,000 construction and manufacturing jobs. This year alone, the United States is on pace to see more investment in electronics manufacturing construction than it did over the last 24 years combined.

    Today’s announcement that the Department of Commerce has finalized the first commercial CHIPS Incentives award with Polar Semiconductor marks the next phase of the implementation of the CHIPS and Science Act, and demonstrates how we continue to deliver on the Investing in American agenda. Polar’s new facility will also be completed under a Project Labor Agreement to support its construction workforce, creating good-quality union jobs in Bloomington, Minnesota. Today’s announcement is just one of the many ways our Investing in America agenda is reshoring U.S. manufacturing, investing in workers and communities across the country, and advancing America’s leadership in the technologies of tomorrow.

    ###

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Speech by CE at BritCham Hong Kong Summit 2024 (English only)

    Source: Hong Kong Government special administrative region

    Speech by CE at BritCham Hong Kong Summit 2024 (English only)
    Speech by CE at BritCham Hong Kong Summit 2024 (English only)
    *************************************************************

         Following is the speech by the Chief Executive, Mr John Lee, at Britcham Hong Kong Summit 2024 today (September 24): Mr Jeremy Sheldon (Chair of the British Chamber of Commerce in Hong Kong), Mr Paul McComb (Executive Director of the British Chamber of Commerce in Hong Kong), Deputy Consul-General Sarah Robinson (Deputy Consul-General of the United Kingdom to Hong Kong), distinguished guests, ladies and gentlemen,      Good afternoon to you all. I am delighted to be here, today, for the fourth annual BritCham Hong Kong Summit. And what a day it’s been, with Commissioner Cui Jianchun opening the Summit and five smartly considered panel discussions, each centred on Hong Kong opportunity – long-term, far-reaching opportunities powered by innovation, sustainability, and more.           Panel One’s theme certainly caught my attention, with its focus, and I quote, “Business Leaders Perspective on Hong Kong as a Global Powerhouse City”.           Yes, ladies and gentlemen, Hong Kong indeed endeavours to become a global powerhouse city. With its energy, entrepreneurship and connectivity.           More than an ambition, it is a goal and collective commitment that the Hong Kong SAR Government is working, tirelessly, to realise.           With welcome assistance, let me add, from organisations such as the British Chamber of Commerce in Hong Kong, and its membership of some 1 000 professionals from about 350 companies. Each and every one of you as committed as us in building a flourishing future for all, right here in Hong Kong.           At last count, over 640 UK companies call Hong Kong home. And it’s reassuring to tell you that Hong Kong and UK companies like to do business together. Last year, our bilateral merchandise trade was up a whopping 19 per cent, year on year, and reached nearly HK$130 billion.           Yes, Hong Kong has all along been a key export market for the UK. In the decade between 2014 and 2023, the value of UK exports to Hong Kong grew nearly 100 per cent, to GBP15.7 billion.           Our trade in services are just as vibrant. In 2022, the UK was Hong Kong’s third-largest services trading partner.           And, of course, we like to invest in each other’s economies and companies. In 2021, Hong Kong was the sixth-most popular destination for foreign direct investment from the UK, with a total value of GBP77.6 billion. That accounted for 4.4 per cent of the UK’s total outward FDI stock. Hong Kong, in 2021, was the second-largest Asian investor in the UK, with FDI stock worth GBP16.3 billion.           Hong Kong’s selling card, our great and enduring strength over the years, is our openness to trade and business, our eagerness to connect – with the UK and a world of companies and economies.           “One country, two systems” makes it happen. This unique principle allows Hong Kong to enjoy the wealth of opportunities our country presents, while taking full advantage of our dominant role as the multilevel bridge between the Mainland and the rest of the world.           It ensures that Hong Kong’s robust rule of law, as well as our continuous practice of the common law system, one that resembles that of the UK and many major global financial centres. It also helps to maintain our simple and low tax regime, world-class infrastructure, and international connectivity.           That’s probably why in the latest World Competitiveness Yearbook, published by the International Institute for Management Development, Hong Kong ranked fifth globally. We came first in the world in “international trade” and “business legislation”, and was also among the global top five in “tax policy”, “international investment”, “basic infrastructure”, “finance” and “education”.           As a global powerhouse city, Hong Kong will never stop expanding its business and trade networks. These include our well-established partners among developed economies, as well as new and budding ones.           The 10 Member States of ASEAN – the Association of Southeast Asian Nations – is one of our pre-eminent partners. For more than a decade now, ASEAN has been our second-largest merchandise trade entity. Investment between us is also buoyant. Indeed, Hong Kong is ASEAN’s fourth-largest source of inward direct investment.           It helps, of course, that the free trade agreement and investment agreement between us has been in full force now for three years.           It helps, too, that I have been to seven ASEAN countries since I assumed office just over two years ago. My latest visit, in July, to Laos, Cambodia and Vietnam, resulted in 55 MOUs and related agreements. They will expand our co-operation in trade and investment, as well as finance, technology, logistics and a good many other areas, too.           Our ties with the Middle East have also burgeoned following my visit to the region in February last year.           This past week, Saudi Arabia gave its approval for the first exchange-traded fund, or ETF, investing in Hong Kong equities to be listed on its stock exchange. That’s an encouraging development for investors, too.           Last November, HKEX, and investors, welcomed the listing of Asia-Pacific’s first ETF to track Saudi Arabian equities, allowing local and global investors to invest in the Saudi stock market through Hong Kong. This mutually rewarding co-operation is a boost for Hong Kong’s ETF market and the global connectivity of our financial services sector.           We look, too, to other cities in the Guangdong-Hong Kong-Macao Greater Bay Area for connectivity, for long-term opportunity powered by innovation and technology. I’m sure you’ve heard as much at the panel discussion just now.           The Greater Bay Area, as you will be well aware, brings together Hong Kong, Macao and nine cities in Guangdong province. It counts a population of over 86 million people. Its GDP amounted to nearly US$2 trillion last year, rivalling the world’s 10th largest economy.           More than an enormous consumer market, the Greater Bay Area is fast becoming an innovation and technology hub. This year’s Global Innovation Index ranked the Shenzhen-Hong Kong-Guangzhou cluster second in the world, for the fifth year in a row.           That only underlines the huge potential for I&T development in the Greater Bay Area – and in Hong Kong, China’s most international city as you all know. Hong Kong is the only Asian city that has as many as five universities in the world’s top 100, and boast world-class capabilities in research, a robust intellectual property rights protection system, and an established international business environment. Hong Kong has what it takes to play a pivotal role in the region’s rise as an I&T hub.           The Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop, situated right next to our boundary with Shenzhen, is central to that future. This Hong Kong Park, of 87 hectares in area, together with a 300-hectare Shenzhen Park, will form the Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone. It straddles our geographical boundary with the Mainland and will propel the region’s I&T growth.           The Hong Kong Park’s first three buildings, I’m pleased to say, are expected to complete, gradually, from the end of this year.           The Park’s first phase, a total floor area of up to one million square metres, will focus on a number of I&T areas, including life and health technology, AI, advanced manufacturing and industry, academic and research sectors.           That, of course, will demand technology specialists. A continuing flow of strategic talent of every kind, at every level.           We’re working on that, too. And, according to the International Institute for M
    anagement Development and its 2024 World Talent Ranking, we’re well on our way.           In the latest World Talent Ranking, published just last week, Hong Kong’s ranking rose to ninth, overall – up considerably from 16th last year. That’s also the first time we were back to the ranking’s top 10 since 2016.           And I’m delighted to say that Hong Kong topped the ranking in the percentage of graduates in sciences.           We’re making notable progress, too, in enticing talent to turn to Hong Kong for their future.           As at the end of last month, we have received more than 360 000 applications under our various enhanced talent admission programmes, launched in the end of 2022. Nearly 230 000 applications have been approved, and more than 150 000 professionals have already arrived in Hong Kong, many with their families.           The schemes are popular among our friends from the UK, I’m glad to add. Some 4 100 of these approved applicants are UK nationals. That’s a blessing. For our new Top Talent Pass Scheme, which targets graduates from the world’s best universities and high-income earners, about 7 per cent of the admitted top graduates are from British universities.           And our Working Holiday Scheme with the UK, which celebrates its 10th anniversary this year, has also strengthened our youth ties. At last count, nearly 11 000 young people from Hong Kong and the UK have been granted visas to work, while holidaying, in each other’s places over the past decade.           More than our people-to-people bond, the young and talented professionals joining Hong Kong will boost our labour force. Good news for the economy. For business. For you as well.           Getting, and keeping, talent is, of course, a work in progress, as is the Hong Kong economy. I’ll have more to say on that, and much more, next month, in my annual Policy Address.           And my thanks to BritCham for its Policy Address submission, which I received in early August. I am grateful for your considered thoughts on how Hong Kong can boost its standing as an international trade and finance centre, how we can build our technology and innovation capabilities, take our place as an international talent hub and a good deal more.           I look forward to your continuing co-operation – the excellent work your Chamber is doing for our economy and our community.           On our community, I understand a cheering section from the Chamber will be in London for the upcoming Hong Kong Dinner. This annual gathering is one of the many deep-rooted traditions that have long defined, and distinguished, the abiding ties between our two economies and peoples.           Ladies and gentlemen, I wish you the best of business, health and happiness in the coming year. And, for those of you flying off to London this week, I wish you a memorable Hong Kong Dinner, brimful of the good stories of Hong Kong, a global powerhouse city.           Thank you.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 17:36

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Twaao Exchange Secures U.S. MSB License, Advancing Toward Global Compliance

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) — Recently, Twaao Exchange successfully obtained the Money Services Business (MSB) license issued by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury. This significant compliance certification marks a key step forward for Twaao in adhering to international financial regulations, ensuring the legal operation of the platform on a global scale. By strictly following anti-money laundering (AML) and know your customer (KYC) regulations, Twaao provides users with a transparent and secure trading environment.

    Securing the MSB license is an important milestone for Twaao in its compliance operations. The MSB license is a regulatory certification for financial service institutions in the United States, aimed at preventing financial crimes and protecting consumer rights. By obtaining this certification, Twaao not only demonstrates its commitment to compliance but also lays a solid foundation for expansion in the global market.

    In the process of obtaining the MSB license, Twaao meticulously adhered to FinCEN requirements, implementing comprehensive anti-money laundering and customer identity verification measures. Through advanced technological means and stringent management processes, Twaao ensures that the identity information and transaction records of each user are properly managed and protected, preventing any form of financial crime.

    In terms of anti-money laundering, Twaao employs advanced monitoring and analysis technology to detect and identify suspicious trading activities in real-time. Through comprehensive monitoring and risk assessment of user trading behaviors, Twaao can promptly identify and prevent potential money laundering activities, ensuring the platform compliance and security. Additionally, Twaao has established a robust customer identity verification mechanism to ensure the authenticity and validity of user identity information, preventing identity theft and other deceptive activities.

    The acquisition of the MSB license is an important step in Twaao journey toward global compliant operations. In the future, Twaao will continue to strengthen its investment in compliance, continuously improving and enhancing the platform compliance management system. By collaborating with leading international compliance organizations, Twaao will introduce more advanced technologies and management experiences to provide users with safer and more reliable trading services.

    The MIL Network –

  • MIL-OSI: Equifax Canada Reports Rise in Automotive Fraud

    Source: GlobeNewswire (MIL-OSI)

    – Automotive Fraud Driven by ID Theft and Falsified Credit Applications a Significant Area of Concern for Businesses and Consumers –

    TORONTO, Sept. 24, 2024 (GLOBE NEWSWIRE) — Equifax Canada reports that while application fraud is down in some areas, automotive lenders are seeing a surge in fraud. According to new data from Equifax Canada, automotive fraud is up by 54 per cent year-over-year and is largely driven by falsified credit applications and the continued prevalence in identity theft. Ontario has experienced the most significant increase in auto fraud rates, doubling since Q2 2023.

    In addition, first party fraud (fraud in which the borrower knowingly uses their own personal information to commit fraud) continues to be the most prevalent type of misrepresentation in automotive. “Automotive fraud is a significant pain point for both businesses and consumers,” said Carl Davies, Head of Fraud and Identity at Equifax Canada. “Consumers choosing to falsify their income, employment, and financial information to secure credit are a growing concern for lenders. This deceit may provide short-term financial gains for the consumer, but certainly can lead to long-term consequences such as loan denials, damaged credit, and legal ramifications.”

    Synthetic Identity Fraud
    Overall, the proportion of identity theft in credit applications continues to grow with 48.3 per cent of all fraud applications flagged as identity fraud in Q2 2024, up from 42.9 per cent in Q2 2023, according to data from Equifax Canada. While the proportion of true identity fraud remained the same at 39.4 per cent, there has been a rise in synthetic identity fraud, where criminals combine real and fake data to create new identities. The incidence of synthetic identity fraud rose from 2.8 per cent in Q2 2023 to eight per cent in Q2 2024.

    “The rise in true identity fraud along with synthetic identity fraud, underscores the need for enhanced fraud detection across digital platforms where these crimes are increasingly being perpetrated,” added Davies. “The increase in digital transactions has made it easier for fraudsters to exploit weaknesses in current fraud prevention measures.”

    Other Notable Trends:

    • Identity Fraud: Older consumers with high credit scores are increasingly being targeted. Forty per cent of third-party identity fraud cases involved victims with credit scores above 800 (which is considered excellent), and 76 per cent of these consumers had no prior delinquency on their credit files.
    • Mortgage Fraud: Across Canada, mortgage fraud rates have dropped by 16.3 per cent year-over-year. Alberta is the one exception with mortgage fraud on the rise, often involving falsified income and employment documentation.
    • Deposit Fraud: Deposit fraud, which occurs when fraudulent transactions or payments are made to recently opened accounts, has also experienced a sharp increase, growing from 27.4 per cent of first-party fraud in Q2 2023 to 41.2 per cent in Q2 2024, much of which was driven by the telco industry.

    As fraudsters adapt and refine their tactics, it’s important for businesses and consumers to stay vigilant by using ID theft protection tools that can detect fraud early through timely alerts on credit report changes. Effective fraud prevention includes verifying identities, cross-checking financial documents, and staying informed about regional fraud trends—key measures that can help mitigate the growing threat of fraud for Canadian consumers and businesses alike.

    For more information on fraud prevention, visit Equifax Canada’s website and the Canadian Anti-Fraud Centre.

    About Equifax
    At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

    Contact:

    Andrew Findlater
    SELECT Public Relations
    afindlater@selectpr.ca
    (647) 444-1197

    Angie Andich
    Equifax Canada Media Relations
    MediaRelationsCanada@equifax.com

    The MIL Network –

  • MIL-OSI Economics: BSTDB Builds Up Partnership with OCN Microinvest S.R.L. to Boost Moldova’s Real Economy and Green Financing

    Source: Black Sea Trade and Development Bank

    Press Release | 24-Sep-2024

    New Credit Line to Support Small Businesses and Green Projects

    To bolster economic activity and promote green financing in Moldova, the Black Sea Trade and Development Bank (BSTDB) has announced a new partnership with OCN Microinvest S.R.L., the leading microfinance company in the country. Under this partnership, BSTDB will provide a credit line of up to EUR 10 million, aimed at enhancing financial access for small businesses and supporting the real economy in Moldova.

    OCN Microinvest S.R.L. will on-lend the funds offered by BSTDB to micro, small, and medium-sized enterprises (MSMEs) to support their activities and growth. A portion of these funds will be specifically allocated for green financing initiatives, including energy and resource efficiency, green energy and low-carbon technologies.

    Signing the loan agreement, Dr. Serhat Köksal, BSTDB President, said: “Developing strategic partnerships with leading financial institutions in our member countries is crucial for fulfilling our mandate, particularly when direct outreach to end users is not feasible. Access to finance for micro, small, and medium enterprises is vital for sustainable and inclusive growth in Moldova. In alignment with our Climate Strategy, we are pleased to see that a portion of our loan will be dedicated to financing green activities, thereby contributing effectively to the decarbonization of the Moldovan economy.”

    Dumitru Svinarenco, CEO of OCN Microinvest SRL: “This new partnership with the Black Sea Trade and Development Bank is a testament to our shared commitment to fostering Moldova’s economic resilience and environmental sustainability. The EUR 10 million credit line will provide a much-needed boost to the country’s MSMEs, helping them to scale and adapt in a challenging economic landscape. Moreover, the focus on green financing aligns perfectly with Microinvest’s strategy to encourage more businesses to embrace energy efficiency and sustainable practices. We are proud to be working with BSTDB to support not only the growth of small businesses but also the broader transition to a greener economy in Moldova.”

    O.C.N. Microinvest S.R.L.  was established in 2003 as a microfinance limited liability company in Moldova. The company has a solid shareholding structure, comprising reputable foreign and local non-profit and developmental financial institutions. The company’s activity focuses on lending to individuals and micro, small and medium size enterprises.

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

    Contact: Haroula Christodoulou

    Phone: +30 2310 290533

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI Submissions: Investment Sector – Leo Capital Sets Up Nordic HQ in Helsinki and Launches a €25M Fund Reinforcing Helsinki’s Emerging Role in Attracting Venture Capital Firms

    Source: Helsinki Partners

    Helsinki’s tech ecosystem continues to attract international venture capital firms, as Leo Capital, a successful Singapore-based venture capital firm, launches its Nordic headquarters to support regional B2B startups. Alongside this strategic move, Leo Capital is launching a €25 million fund specifically targeting the Nordic region, marking its first fund focused on Europe. The 90 Day Finn program, which one of Leo Capital’s founders, Shwetank Verma, was part of in 2022, played a crucial role in choosing Helsinki as the location.

    Founded in 2018, Leo Capital has previously managed three funds primarily focused on the APAC region and has actively invested in Europe since 2021. Their successful portfolio includes companies like Apica, Atoa, and Eir. The newly announced fund, Europe Fund I, represents a significant milestone for Leo Capital, as it extends their investment reach into the Nordic startup ecosystem. Business Finland Venture Capital has made an anchor investment in the fund, showing confidence in Leo Capital’s approach amidst challenging market conditions.

    “Europe Fund I continues Leo Capital’s successful strategy of investing in the world’s most capable, ambitious, and resilient founding teams. It is these founders that we are looking to partner with, combining their vision and dynamism with our own networks, resources, and years of cross-border experience to help supercharge their trajectory and realize their global ambitions”, said Shwetank Verma, Co-founder of Leo Capital.

    Helsinki: A New Hub for Venture Capital

    Leo Capital’s decision to expand its operations to Finland came after participating the 90 Day Finn program, an initiative by Helsinki Partners designed to attract international entrepreneurs and investors to Helsinki. Shwetank Verma’s participation in the program provided deep insights into the Finnish business environment, which shares key qualities with Singapore, such as strong government support, a high level of expertise, and a vibrant entrepreneurial spirit.

    “For us, Finland is exciting because we see parallels with what we know best in Singapore, for example. We can see that combination of government support, talent, and entrepreneurial zeal. They’re small markets but very dynamic”, Verma noted.

    Despite the abundant opportunities, Helsinki’s potential remains relatively underexplored on the global stage. Programs like 90 Day Finn have been crucial in bridging this gap, as they have successfully brought international investors like Leo Capital to recognize Finland’s unique offerings.

    “To attract investments, talent, or companies to expand to Helsinki, we need to generate interest and ensure they experience what Helsinki and Finland has to offer. Programs like 90 Day Finn have proven to be incredibly effective. For instance, Leo Capital originally considered another European location for their headquarters but shifted to Helsinki after participating in the program,” commented Johanna Huurre, Business Director at Helsinki Partners.

    The Nordic region, known for its openness and global perspective, provides an inviting ecosystem for international funds. However, while early-stage funding is relatively accessible, there is a notable gap in later-stage funding, an area where Leo Capital aims to make a significant impact.

    “One of the challenges in Finland is the relatively small and local nature of funds. To elevate Finland’s success stories, we need to attract larger international funds and investors. The entry of Leo Capital, with its extensive network, into Helsinki’s ecosystem is a significant step towards this goal,” Huurre added.

    About Leo Capital

    Leo Capital is a Singapore-based early-stage venture fund founded by serial entrepreneurs with global experience. The firm’s portfolio spans 60 early-stage companies supported by a cross-border team across three continents. Leo Capital backs founding teams powering a software-enabled world, supporting them in their journey from great start-up to great company. Leo’s “India Advantage” offers founders support in talent acquisition, go-to-market strategies, and access to a robust network of global co-investors.

    About Helsinki Partners

    Helsinki Partners is the investment promotion agency owned by the City of Helsinki. We have over a decade of experience in helping international companies set up or expand their business, find quality investment opportunities, and expand their network in the Nordics.

    About 90 Day Finn Program

    90 Day Finn program is an unique initiative run by Helsinki Partners and designed to immerse international business leaders, entrepreneurs, and innovators in Helsinki’s business ecosystem and Finnish culture. The program offers participants the chance to explore new market opportunities, network with industry leaders, and experience Finland’s renowned work-life balance. This year, the program welcomed its fourth cohort of participants and took place throughout the entire month of August.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Australia – Mental health suffers as small businesses grapple with economic climate and unexpected expenses – CBA

    Source: Commonwealth Bank of Australia (CBA)

    CommBank launches additional features and support as small to medium business owners face continued economic challenges.

    New research commissioned by CommBank has shown more than half of Australian small and medium-sized businesses (SMEs) are feeling the stress of navigating the cost-of-living crisis, with 52 per cent of business owners and senior managers reporting their mental health had been impacted in the last 12 months by the economic climate.

    The research revealed nearly two thirds (65 per cent) of surveyed businesses had to deal with unexpected expenses over the past year, totalling $7.3 billion in costs they didn’t see coming.

    The most common areas of unexpected expenses were equipment repairs and replacements (48 per cent), higher supplier costs (33 per cent) and increased utilities costs (32 per cent). On average, small to medium businesses have had to pay around $4,300 in unexpected expenses.

    CBA’s Executive General Manager Small Business Banking, Rebecca Warren, said Australian small businesses were showing incredible resilience in the face of tough economic conditions.

    “Running a small business is hard yakka and right now, it’s tough. Rising costs of doing business and unexpected expenses can have a big impact when money is already tight.

    “Our priority is to ensure those who need support understand what measures are available such as business overdrafts, invoice financing or flexible repayment plans.

    “We have been reaching out proactively to hundreds of thousands of our small business customers to check in on them, to make sure they are receiving the support they need, and that they are aware of some our tools that can help them to run their business.

    “We offer free comprehensive cash flow tracking capabilities via a Business Cash Flow tool in the CommBank app, which offers monthly summaries of incoming and outgoing cash flow, month-by-month breakdowns and real-time transaction history to help small businesses easily track their finances. We also have an app feature called Bill Sense that predicts future bills to help customers and a free business insights tool called Daily IQ.

    “From next week, we’re launching a partnership with Smiling Mind, a not-for-profit mental health organisation focused on building mental fitness skills, to provide small business owners with access to mental wellbeing programs, tools and preventative strategies in maintaining their mental health.”

    This Smiling Mind mental fitness program is specifically designed to promote mental wellbeing with a focus on businesses. It will be available in the Smiling Mind app from next month and will be accessible by anyone.

    Smiling Mind’s CEO, Sarah La Roche, said: “Amid the additional challenges of economic uncertainty and declining mental health, Smiling Mind is proud to partner with CommBank to provide Australian business owners, leaders and employees with practical support, freely accessible within the Smiling Mind app to promote mental fitness at work. These resources will be available anytime, anywhere, with no barriers to access.”

    With more than half of business owners and senior managers reporting their mental health had been impacted in the last 12 months by the economic climate, Ms Warren said CommBank recognised the scale of the impact.

    “Small business owners are extremely time-poor, they have multiple plates spinning at any given time, which makes prioritising their own mental health and well-being more challenging.”

    CBA has a range of products, services and assistance measures designed to back small businesses and help them through the challenging economic conditions. For more information, please visit: commbank.com.au/smallbusiness

    CBA also offers the Cyber Wardens program, in partnership with the Council of Small Business of Australia (COSBOA) and Telstra, to help small businesses build resilience and upskill in cyber safety.

    About YouGov research

    All figures, unless otherwise stated, are from YouGov. Total sample size was 510 adults. Fieldwork was undertaken between 1 – 7 August 2024. The survey was carried out online. The figures have been weighted and are representative of all Australian small and medium business owners and decision makers (aged 18+).

    About Smiling Mind

    Smiling Mind has been at the forefront of mental wellbeing innovation for over 12 years, helping minds thrive with evidence-based tools and resources. Smiling Mind are proud to have impacted the lives of millions of people globally. Their mission is Lifelong Mental Fitness. They aim to create generational change in mental health, providing proactive tools and programs that help every mind thrive.

    About the Partnership

    Smiling Mind’s partnership with CommBank will deliver a campaign specifically targeted at Australian small business owners, leaders and employees. They will be able to freely access a new collection in the Smiling Mind App, designed specifically to build mental fitness and support people to thrive at work. This proactive resource, available 24/7, provides practical support and guided strategies to promote mental fitness and navigate challenges.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Tech News – Huawei to Support TowerCos’ Energy Quest, Diversification in Africa

    Source: Huawei

     

    Nairobi, Kenya – [September 11, 2024] – Huawei, a global leader in telecommunications and digital solutions, has announced its commitment to support Tower Companies (TowerCos) across Africa in their efforts to diversify energy sources and adopt sustainable practices in powering telecommunications infrastructure.

     

    The initiative aims to help TowerCos reduce their carbon footprint, enhance operational efficiency, and explore new business frontiers.

     

    In his speech titled: “Lighting Up the Road to Multiple Business Future for TowerCos“ delivered at the TowerXchange Meetup Africa 2024 in Nairobi, Li Shaolong, President of Huawei Site Power Facility Domain, said African continent is accelerating the construction of ICT infrastructure, and towercos, which play an important role in this process, are facing new challenges and opportunities.

     

    “As the demand for mobile connectivity continues to rise, TowerCos face increasing pressure to ensure energy reliability and sustainability, particularly in regions with limited access to stable power grids. Tower sites, often located in remote areas, rely heavily on diesel generators, which are costly to operate, environmentally unfriendly, and vulnerable to fuel supply challenges. Huawei’s energy solutions are designed to address these challenges by integrating renewable energy technologies, such as solar power, and advanced energy storage systems,” Mr. Li said.

     

    Mr. Li emphasized Huawei’s long-term vision to help Africa’s TowerCos transition towards greener energy solutions, adding that by integrating digital and power electronics technologies, Huawei Site Power Facility remains committed to providing towercos with end-to-end energy infrastructure and intelligent O&M solutions.

     

    A Path to Diversification

    In addition to energy sustainability, Huawei aims to support TowerCos in their diversification strategies, enabling them to explore new business models and revenue streams.

     

    “This will drive towercos to become energy producers through innovative solutions and business models, thereby achieving diversified business development, revenue growth, and continuous success in energy operations.” Mr. Li said.

     

    Mr. Li noted that by deploying Huawei eMIMO smart power solution, towercos can centrally manage multiple energy inputs (such as grid, PV and energy storage) and multiple outputs (such as 12 V to 220 V electrical devices) through a single power platform.

     

    “In this way, revenue-generating services such as environmental protection and emergency response can be developed in addition to communications services,” he said.

     

    He further noted that the major aims of Huawei Site Power Facility Domain are to support network evolution and increase tenancy ratio, help TowerCos Reduce energy costs and achieve green development, and improve power availability (PAV) and reduce O&M costs for sites.

     

    “Huawei will continue to work with towercos to innovate and promote the iteration of energy infrastructure towards “green, simple, and intelligent”, accelerating the construction of African carrier networks and digital Africa,” Mr. Li said. 

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: African Youth Urged to Embrace Engineering to drive development

    Source: Media Fast

    “Africa’s future depends on its youth embracing engineering, which lies at the core of solving the continent’s most pressing challenges” – Eng. Maureen Mwaniki, Director of Public Affairs and Policy at Huawei Kenya.

    September 13, 2024 – Africa’s youth have been called upon to embrace engineering as a key driver of development and innovation across the continent.

    Speaking at the 10th annual UNESCO Africa Engineering Week – High-Level Workshop held in Nairobi – Kenya on September 12, 2024, Eng. Maureen Mwaniki, Director of Public Affairs and Policy at Huawei Kenya, said the shortage of engineers in Africa, and the rest of the world was a cause for concern.

    “There has been declining interest in the profession from the youth, with the enrolment of young people, especially women in the profession dwindling. The continent is facing a situation where there are a lot of older more experienced engineers, but not enough young candidate engineers entering the profession. Our ability to sustain the profession lies in the number of young people choosing engineering as a career,” Eng. Mwaniki said.

    She noted that Africa’s future depends on its youth embracing Science, Technology, Engineering and Mathematics (STEM) education, particularly engineering, which lies at the core of solving the continent’s most pressing challenges.

    “The growing need for infrastructure, clean energy, and climate resilience offers a unique opportunity for engineers to shape Africa’s path toward sustainable growth.  But more efforts need to be put in attracting younger people, especially women, to the profession,” Eng. Mwaniki said.

    “Women, in particular, need to step out of their comfort zones and grab the opportunities that are offered by companies such as Huawei. Programs like Seeds for the future, ICT Competition, Women Collaboration programs with our partners, etc will help expose the Women Engineers to advanced technologies that can enable them to create solutions for their country.”

    The Africa Engineering Week provides a platform for government representatives, industry leaders, and academia to discuss policy frameworks and partnerships that can accelerate engineering education and innovation on the continent.

    Celebrated across the region every year, UNESCO Africa Engineering Week promotes engineering solutions and awareness among students, society and policy-makers. It aims to inspire and educate youth and the public on the vital role of engineers in societies.  

    This year’s edition is hosted by the Ordem dos Engenheiros de Angola in Luanda, Angola, and organised jointly by UNESCO, the World Federation of Engineering Organizations (WFEO) and the Federation of African Engineering Organisations (FAEO).

    It will include the 8th Africa Engineering Conference, the 7th Africa Women Engineers Forum, the Young Engineers Forum and a Business-to-Business (B2B) session. These events will focus on sustainability and innovative infrastructures; engineering and acceleration of African Continental Free Trade Area (AfCFTA) implementation; and engineering education and capacity building.

    “This year’s theme, ‘Engineering and for Sustainable Development’, highlights the urgent need for technical solutions to address challenges such as climate change, infrastructure development, and digital transformation,” Eng. Mwaniki said.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Australia – Businesses increase asset investment despite economic uncertainty – CBA

    Source: Commonwealth Bank of Australia (CBA)

    CBA data shows small and medium-sized businesses are taking a long view on the economy, investing in their productive capacity.

    Businesses are continuing to invest in their operations despite the slower economy, with data from the Commonwealth Bank of Australia’s business bank showing a 15 per cent uplift in vehicle and equipment financing compared to the same period last year.1

    Motor vehicle purchases have been a key driver (up 55 per cent), as supply chains continue to improve post-Covid and new stock becomes available. Among this category, loans for hybrid vehicles increased fivefold (533 per cent) in the past financial year, and electric vehicles were up 254 per cent. Financing for light commercial vehicles such as utes, vans and light trucks – a category that is particularly popular with small business customers – rose 27 per cent.

    Businesses are also investing in shop and office fit-outs, with financing for shelving and furniture fittings up 25 per cent.

    Financing activity has been particularly strong in areas like Health & Community services (up 35 per cent), Education (up 24 per cent) and Manufacturing (18 percent).

    “Australia’s economic fundamentals are sound, and there are reasons for optimism about the future, but inflation and other global risks contribute to uncertainty that’s rightly prompting business owners to take steps to ensure their operations are future-fit and resilient,” said Grant Cairns, Executive General Manager Business Lending at Commonwealth Bank.

    “While companies are navigating ongoing pressure from rising cost of doing business, we are seeing many business owners taking the long view on the economy and investing in their operations.”

    As motor vehicles are one of the most common asset investments for small and medium-sized businesses, CommBank has collaborated with Carsales to launch a car buying service via the CommBank app or Netbank to help make finding and financing a car or electric vehicle easier for both business owners and individuals.

    A ute with equipment tray parked next to a construction site

    “We are very focused on ensuring access to capital to help drive productive capacity across the country,” Mr Cairns said.

    “For small and medium-sized businesses, this means making it simpler and easier to access funds and we’ve cut our funding time-to-decision by 20 per cent to provide that support faster.”

    Mr Cairns said the bank has also worked to automate and digitise its business lending products, including business overdrafts, which are now available to eligible small business customers via a fully automated online application process that can see funds credited to their account in as little as eight minutes.

    Still, Mr Cairns said, while many businesses were looking to invest, that wasn’t the case for all, and some businesses were doing it tough amid higher cost of living.

    “While there are these pockets of strength and optimism across the economy, we know that the economic climate is challenging some businesses more than others, and we have tailored support available for those who are doing it tough.

    “We have been proactively reaching out to hundreds of thousands of our business customers to check in on them and ensure that those who need support know how to access it and understand what measures are available and that we’re here to help,” he said.

    CBA has a range of measures are available for those who need support including deferred business loan repayments or debt restructuring. More information is available on our website.

    Businesses seeking support can speak to their Relationship Manager or call CBA’s dedicated Business Financial Assistance team, available 24/7, on 13 26 07.
     

    Footnote:

    [1] CBA asset finance data FY24 vs same period of FY23

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Business and Tech – 25 Disruptive Technology Startups Join Morgan Stanley Inclusive Ventures Lab’s 10th Cohort

    Source: Morgan Stanley

    • Tenth Lab cohort includes 25 disruptive technology and technology-enabled startups from the Americas and EMEA
    • Five-month accelerator program to provide founders with $250,000 (£250,000) investment, as well as mentorship and business-growth resources
    • 117 companies have participated in the Lab to date.

    Morgan Stanley (NYSE: MS) today announced the 2024 global cohort of the Inclusive Ventures Lab, with 25 companies selected from the Americas and Europe, the Middle East and Africa (EMEA). Over the next five months, the companies will participate in an in-house accelerator program designed to further develop and scale technology and technology-enabled startups in the seed to Series A funding round stage.

    Chosen from thousands of applications, the 25 startups represent a range of disruptive technologies across industries such as Climate Tech, Retail, Healthcare, FinTech, SaaS, Enterprise Software, Consumer and Travel – with many incorporating AI and sustainability into their products and services. Cohort companies will receive a $250,000 investment (£250,000 in EMEA) from Morgan Stanley, as well as a variety of mentorship opportunities, a tailored entrepreneurship curriculum and business-growth resources from the firm’s ecosystem of internal and external partners.

    “In today’s challenging venture capital environment, we are proud to welcome our largest cohort of groundbreaking startups to the Inclusive Ventures Lab and are eager to support them as they scale their innovations and work to build a better world,” said Selma Bueno, Global Head of the Morgan Stanley Inclusive Ventures Group. “Each year since the Inclusive Ventures Lab’s launch in 2017, we have expanded our efforts to ensure that more entrepreneurs around the world can succeed – and this year is no different.”

    The companies selected to participate in the 2024 cohort include the following:

    • Agri-Trak digitizes small farm operations with a smart platform for real-time labor, crop yield and cost tracking to optimize productivity, sustainability and profitability (US)
    • Beta Financial provides a transparent and comprehensive small business credit scoring solution, fostering financial inclusion and access to capital through innovative AI-driven technology (US)
    • Blip Energy is building a drop-in distributed energy resource to mitigate surging peak demand, optimize energy costs for users and reduce operating costs for utilities (US)
    • Compare Ethics is an AI-powered sustainability compliance platform that reduces costs by helping retail brands simplify, streamline and scale the way they make accurate green claims (UK)
    • Darent is a vacation rental marketplace platform in Saudi Arabia for travelers to search for properties with a focus on local experiences, a secure payment system and property insurance for hosts (Saudi Arabia)
    • For The Creators is an omni-channel circular fashion marketplace where women can rent and buy high-quality clothing for each stage of motherhood (UK)
    • GroceryList is a marketplace connecting immigrants worldwide with local merchants across Latin America and the Caribbean, enabling them to purchase groceries and essentials for their loved ones back home (US)
    • HANX is a consumer platform bringing together medically designed women’s reproductive health products, prescription treatments and community-focused content (UK)
    • Hire Ground is a B2B software platform that enables enterprise buyers to source and manage third party vendors while optimizing their procurement process (US)
    • Infinite Giving is a fintech platform that enables nonprofits to raise money, manage their cash reserves, and conservatively invest and grow (US)
    • Juniver is a health company leveraging AI technology to provide personalized digital interventions for lasting eating disorder recovery (UK)
    • KSI Vision uses existing AI on store and shopping center security cameras to generate real-time customer data and increase sales conversion (Uruguay)
    • Mavity is an AI-powered operating system for design and marketing teams that connects companies with on-demand creatives to streamline asset creation (US)
    • MyARC is a platform that enables fitness content creators to train their fans at scale (UK)
    • NÜWIEL provides electric mobility solutions for the cities of today and tomorrow (Germany)
    • OVUM is a one-stop shop for fertility wellness, providing educational resources, products and services for improving fertility outcomes (UK)
    • Research Grid is an automation engine for admin-free clinical trials (UK)
    • Revere is reinventing how allocators manage their alternative asset portfolios through AI, workflow automation tools and custom reporting (US)
    • Route is a platform of business management tools for commercial cleaning companies to automate sales, streamline operations, build contractor relationships and connect the entire cleaning industry (US)
    • Sanarai connects the Latino community to mental health professionals in Latin America and the US to offer culturally sensitive, Spanish-language emotional support at accessible prices (US)
    • Soralink leverages AI and smart sensors to assist manufacturers in preventing critical machine failures (Canada)
    • Sortile provides the textile industry with a system that enables the identification, traceability and recycling of textiles (US)
    • SWYE360 Learning is a data analytics company that uses machine learning and AI in education to measure software efficacy and detect students at risk of dropping out (US)
    • Tendo Technologies addresses the challenges faced by aspiring online retail entrepreneurs in Africa by connecting independent resellers to suppliers (Ghana)
    • Zest Equity is digitizing private market transactions, building tools to streamline and ensure greater transparency in how entrepreneurs, funds and investors transact (UAE).

    Programming will culminate in February 2025 with a global Demo Day, when participating companies will present to potential investors, business partners and customers. The investment firms in attendance at the last showcase represented over $40 billion of dry powder and indicated a high level of interest following the event.

    About the Morgan Stanley Inclusive Ventures Lab
    The Morgan Stanley Inclusive Ventures Lab (MSIVL) is an intensive five-month in-house accelerator program designed to help further develop and scale startups, culminating in a showcase presentation and Demo Day to the investor community. Morgan Stanley launched MSIVL, formerly called the Multicultural Innovation Lab, in 2017 in order to address inequities in funding of startup founders, which our research shows equals over four trillion dollars in unrealized returns.

    About Morgan Stanley
    Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Stats NZ release notification

    Dear subscriber

    Below you can find Stats NZ’s information releases for the next week. For more information about these releases go to Insights and make your selections in the drop-down options.

    6 September 2024
    Value of building work put in place: June 2024 quarter
    View recent value of building work put in place releases

    10 September 2024
    Business employment data: June 2024 quarter
    View recent business employment data releases

    Business financial data: June 2024 quarter
    View recent business financial data releases

    Local authority statistics: June 2024 quarter
    View recent local authority statistics releases

    11 September 2024
    International migration: July 2024
    View recent international migration releases

    International travel: July 2024
    View recent international travel releases

    Our release calendar has a full list of release dates for official statistics.

    The release calendar is updated six months ahead, but dates may change.

    Information releases include the latest statistics for the subject, with a summary (in the Key facts section), statistical Tables, and links to metadata and related information.

    You can also follow us on Twitter and Facebook to keep up to date on releases and further information:
     

     Follow us on Twitter

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    MIL OSI –

  • MIL-OSI Submissions: Electrical industry sales up in the June 2024 quarter – Stats NZ media and information release: Business financial data: June 2024 quarter

    Source: Statistics New Zealand

    Electrical industry sales up in the June 2024 quarter – 10 September 2024

    Seasonally adjusted sales for the electricity, gas, waste, and water services industry in New Zealand rose to $7.9 billion in the June 2024 quarter, up 22 percent on March 2024 quarter, according to data released by Stats NZ today.

    In actual terms, industry sales increased by $2.1 billion (36 percent) in the June 2024 quarter compared with June 2023 quarter. This is the largest value increase since the beginning of the series in June 2016. Purchases for this industry also rose significantly, up $2.2 billion over the same period.

    “The rise in electricity industry sales and purchases can likely be attributed to a combination of factors such as gas shortages and low hydro generation. The impacts have mainly been expressed in the higher wholesale price of electricity.

    “It wasn’t just difficulty in electricity generation contributing to the shift we are seeing, the national demand for electricity was much higher this quarter, with NIWA noting the month of May as being the coldest May in 15 years,” business financial statistics manager Ricky Ho said.

    Visit Statistics NZ’s website to read this news story and information release and to download CSV files:

    MIL OSI –

  • MIL-OSI Submissions: Stats NZ information release: Business employment data: June 2024 quarter

    Source: Statistics New Zealand

    Business employment data: June 2024 quarter ‐ 10 September 2024 – Business employment data includes filled jobs and gross earnings, with breakdowns by industry, sex, age, region, and territorial authority area, using a combination of data from two different Inland Revenue sources: the employer monthly schedule (EMS) and payday filing. Both are associated with PAYE (pay as you earn) tax data.

    Key facts
    Total actual filled jobs in the June 2024 quarter were 2.3 million.

    In the June 2024 quarter (compared with the March 2024 quarter):

    • total seasonally adjusted filled jobs − down 0.4 percent (8,789 jobs).

    For the year ended June 2024 compared with the year ended June 2023:

    • total gross earnings ‐ up 7.6 percent ($12.5 billion).

    Visit Statistics NZ’s website to read this information release and to download CSV files:

     

    MIL OSI –

  • MIL-OSI USA News: FACT SHEET: President  Biden and Vice President Harris Are Delivering for Latino  Communities

    Source: The White House

    Since Day One, the Biden-Harris Administration has worked to ensure every community—including Latino communities—can access a quality education, obtain a good-paying job, own a home, start a business, and afford high-quality health care. This National Hispanic Heritage Month, President Biden and Vice President Harris celebrate and honor the rich contributions of Latinos and remain committed to ensuring every family has a shot at the American Dream.

    Growing Economic Prosperity for Latino Communities

    The Biden-Harris Administration’s Investing in America agenda has created five million jobs for Latino workers—achieving a historically low Latino unemployment rate, reported at 5.5% through August 2024, down from 8.6% when the President and Vice President took office. The Biden-Harris Administration has delivered record economic results for Latinos, including:

    • Hispanic business ownership is up 40%–growing at the fastest rate in 30 years.
    • Doubled the number of Small Business Administration-backed loans to Latino-owned businesses in FY 2023 compared to FY 2020.
    • Cut mortgage interest premiums for Federal Housing Administration loans, saving over 185,000 Latino homeowners more than $1,000 per year.
    • Achieved the largest increase in homeownership rates for Hispanic homeowners versus the previous year and took historic action to root out home appraisal bias, which contributes to the wealth gap by unfairly undervaluing homes owned by Latinos and in majority-Latino neighborhoods
    • Awarded nearly $11 billion in Federal contracts to Latino-owned small businesses in Fiscal Year (FY) 2023, an increase of nearly $1 billion since FY 2020.
    • Increased funding for the Child Care and Development Block Grant program—the major Federal child care grant program—by almost 50% to serve half a million more children, and issued a rule to cap out-of-pocket child care costs in that program at 7% of income, saving about 100,000 low-income families over $200 a month on average.
    • Expanded the Child Tax Credit (CTC) under the American Rescue Plan, which helped cut Latino child poverty nearly in half to a record low of 8.4% in 2021—lifting 1.2 million Latino children out of poverty that year and bringing the gap between Latino and white child poverty rates to a historic low.  President Biden and Vice President Harris continue to call on Congress to restore the full expanded CTC expanded benefit so that millions of children can be lifted out of poverty. The Biden-Harris Administration also modernized SNAP benefits for the first time since 1975, lifting about 700,000 Latino families, including 360,000 Latino children, out of poverty each month.
    • Took action to establish the first-ever Federal heat safety standard in workplaces combatting extreme weather to protect 36 million farmworkers, construction workers, manufacturing workers, and others.
    • Invested more than $140 billion to drive an economic turnaround in Puerto Rico—creating more than 100,000 jobs and lowering the unemployment rate to 5.8%, near its lowest level ever. The American Rescue Plan also permanently made Puerto Rican families eligible for the same Child Tax Credit as other Americans, making nearly 90% of Puerto Rican families newly eligible for the credit.

    Ensuring Equitable Educational Opportunity for Latino Students

    President Biden and Vice President Harris believe that every student in this country deserves access to a high-quality education and a fair shot at the American Dream. This Administration has taken action to expand educational opportunities and improve college affordability for all students, including:

    • Invested a record over $15 billion in Hispanic-Serving Institutions (HSIs)— the largest investment in U.S. history.
    • Signed an Executive Order establishing a President’s Advisory Board and White House Initiative on HSIs to coordinate Federal resources and bolster collaboration between institutions.
    • Secured a $900 increase to the maximum Pell Grant award—the largest increase in the past decade, helping the over 50% of Latino college students who rely on Pell Grants.
    • Approved the cancellation of almost $170 billion in student loan debt for nearly 5 million borrowers—including for Latino borrowers, who are disproportionately burdened by student debt.
    • Proposed a rule to expand TRIO college access programs to Dreamers and others, which would allow an estimated 50,000 more students each year to access Federal college preparation services and programs, such as counseling and tutoring, and thousands more to attend college.
    • Announced nearly $15 million in new grants under the Augustus F. Hawkins Centers of Excellence Program (Hawkins) to advance teacher diversity and prepare the next generation of educators at Minority Serving Institutions, Historically Black Colleges and Universities and Tribal Colleges Universities—who can provide culturally and linguistically responsive teaching in our country’s underserved schools. This new round of grants—which includes awards to 15 HSIs—brings the total investment in Hawkins to $38 million under the Biden-Harris Administration, which is the first Administration to secure funding for the program.

    Improving Health Outcomes for Latino Communities

    From beating Big Pharma and lowering prescription drug costs to expanding health care coverage, President Biden and Vice President Harris have taken action to make high-quality health care more affordable.

    • Starting in 2025, all out-of-pocket drug costs will be capped at $2,000 per year and the cost of insulin is now capped at $35 for Medicare Part D enrollees, which includes five million Latinos.
    • In August 2024, the President and Vice President announced new, negotiated prices for the first ten prescription drugs selected for Medicare price negotiation—expected to save Medicare enrollees $1.5 billion in out-of-pocket costs in the first year of the program alone.
    • Latino enrollment in the Affordable Care Act (ACA) Marketplace coverage has doubled under the Biden-Harris Administration, which also extended ACA healthcare benefits to Dreamers starting on November 1, 2024.
    • Launched a new grant program to train doctors and physician assistants on providing culturally and linguistically appropriate care for individuals with limited English proficiency, including those who speak Spanish, to improve health outcomes and reduce health disparities.
    • Added Spanish text and chat services to the National 988 Suicide & Crisis Lifeline so that individuals can now connect directly to Spanish-speaking crisis counselors.

    Reducing Gun Violence and Saving Lives

    President Biden and Vice President Harris have taken historic action to reduce gun violence and keep our communities safe:

    • After the heroic advocacy of families from Buffalo and Uvalde and so many other communities across the country, President Biden signed the Bipartisan Safer Communities Act into law—the most significant gun safety legislation in nearly 30 years.
    • Established the first-ever White House Office of Gun Violence Prevention, overseen by Vice President Harris, which has accelerated work to reduce gun violence and engaged with Latino communities—including survivors of mass shootings in Uvalde and El Paso and survivors of community violence disproportionately affecting Black and Latino communities.
    • Secured $400 million for the first-ever federal grant program solely dedicated to community violence interventions.

    Addressing America’s Broken Immigration System

    On Day One, President Biden introduced a comprehensive immigration reform bill and has repeatedly called on Congressional Republicans to pass the SENATE bipartisan border security bill – the toughest and fairest set of border reforms in decades. Throughout this Administration, the President and Vice President have taken action to improve our country’s immigration system.

    • Took action to speed up work visas, to help people who graduated from U.S. colleges and universities—including Dreamers—land jobs in high-demand high-skilled professions.
    • Took action that would allow 500,000 spouses of American citizens who have been in the country for 10 years or more to apply for lawful permanent residence while staying in the United States. The Biden-Harris Administration is fighting efforts by Republican officials to block this work in court, so that families—including Latino families—can stay together.
    • Directed the Department of Homeland Security to take all appropriate actions to “preserve and fortify” Deferred Action for Childhood Arrivals (DACA), and continue to defend the DACA rule in court.
    • Streamlined, expanded, and instituted new reunification programs so that families can stay together while they complete the immigration process.
    • Took executive action to secure the border when Congressional Republicans twice blocked the Senate bipartisan border security deal.


    Advancing an Unprecedented Whole-of-Government Equity Agenda to Expand Opportunity

    President Biden and Vice President Harris promised to leverage the power of the Federal Government to deliver for all communities and build an Administration that looks like America.

    • Assembled the most diverse administration in U.S. history, including four Latino Cabinet members—Department of Homeland Security Secretary Mayorkas, Department of Health and Human Services Secretary Becerra, Department of Education Secretary Cardona, and U.S. Small Business Administration Administrator Guzman.
    • Signed two Executive Orders directing the Federal Government to address system inequality and barriers to equal opportunity faced by underserved communities.
    • Updated Federal race and ethnicity data collection standards for the first time in almost 30 years, which is expected to improve Latino community data representation in the U.S. Census and Federal programs.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Sen. Jason Anavitarte Named Among 50 Most Influential Latinos in Georgia

    Source: US State of Georgia

    ATLANTA (September 23, 2024) — Last week, Sen. Jason Anavitarte (R–Dallas) was honored by the Georgia Hispanic Chamber of Commerce as one of Georgia’s 50 Most Influential Latinos. The ceremony, held at Truist Park, celebrated Latino leaders who have made significant contributions to Georgia’s social, economic, and cultural landscape.

    The annual recognition serves as a prestigious platform to showcase the leadership and achievements of Latino individuals across various industries. Sen. Anavitarte, who represents Senate District 31, has steadfastly advocated for issues impacting the Latino community and has worked tirelessly to promote economic growth and opportunity for all Georgians.

    In receiving the award, Sen. Anavitarte expressed his gratitude to the Chamber and emphasized the importance of continued progress for the Latino community.

    “I’m deeply honored to be recognized among such incredible leaders who are making a lasting impact on Georgia. The contributions of the Latino community to our state’s growth and success are undeniable, and I am committed to continuing our work to ensure that our voices are heard and that we remain a driving force in all endeavors of our state,” said Sen. Anavitarte.

    The event underscored the vital role Latinos play in shaping the cultural diversity and economic dynamism that define Georgia, with Sen. Anavitarte being a leading figure in that progress. His work in the Georgia Senate and his active involvement in community initiatives have consistently highlighted his dedication to public service and the Latino community.

    # # # #

    Sen. Jason Anavitarte serves as Chair of the Senate Majority Caucus. He represents Senate District 31, which includes Paulding and Polk Counties. He can be reached at 404.656.9221 or at Jason.anavitarte@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –