Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
MIL OSI Translation. Region: Russian Federation –
Source: Moscow Government – Government of Moscow –
All utility systems, residential buildings, municipal facilities, equipment and machinery are ready for the autumn-winter period. The Moscow Government has considered the issue of the readiness of the capital’s housing stock and housing and communal facilities for the autumn-winter season of 2024/2025.
Preparations for the heating season for 74 thousand buildings, including 34.6 thousand residential buildings, 8.4 thousand social facilities and 30.8 thousand economic facilities, were carried out from May to August.
City services carried out preventive inspections and necessary repairs of engineering systems and equipment of boiler houses, central heating stations, large energy facilities, engineering networks of heat, gas, water and electricity supply.
The existing power reserves allow for a stable and uninterrupted supply of energy resources to consumers, as well as to meet the needs of promising city programs and infrastructure projects.
In case of possible failures and damage to utility networks, 1,093 emergency teams, 1,229 units of specialized equipment, as well as backup sources of electricity and heat supply have been prepared.
The required amount of road cleaning, engineering and other specialized equipment, as well as small mechanization tools, will be used to maintain urban areas and facilities. Snow will be disposed of at 51 stationary snow melting points.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
https://vvv.mos.ru/major/themes/11819050/
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The Federal Financial Supervisory Authority BaFin warns consumers against offers on website esx-gruppe.com. According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation.
Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
Source: World Food Programme
Nairobi/Geneva: The United Nations World Food Programme (WFP) is in a race against time to save lives in war-torn Sudan, as 1.5 million people across the country either face famine or are at risk of famine. Without urgent assistance, hundreds of thousands of people could die.
WFP is working tirelessly to get aid into the hands of people who are facing starvation, and we are saving thousands of lives every single day in Sudan. So far this year, we’ve supported 5.4 million people with life-saving food and nutrition assistance. As we speak, we are urgently getting basic staple foods into the hands of 180,000 people facing famine in Zamzam camp. Vulnerable communities are receiving a package of wheat flour, lentils, oil and salt.
Meanwhile in Khartoum, WFP is supporting community kitchens to provide around 175,000 hot meals daily. We’ve also just started in-kind food distributions for around 155,000 people in Karrari and Omdurman where people will receive two-month rations. Around 16,000 people in the metropolitan area received mobile money transfers in July and August, with a higher number planned for this month. WFP has also launched self-registration pilots to expand mobile money transfers to North and South Darfur, South Kordofan, and Gezira State.
WFP is taking advantage of the reopening of the Adre border from Chad into the conflict-rattled Darfur region. Trucks carrying vital food and nutrition supplies are crossing that border most days, despite facing delays due to flooded seasonal rivers and muddy road conditions where aid convoys are getting stuck. Since Adre reopened one month ago, we’ve transported 2,800 metric tonnes of food supplies into Darfur region via this route, enough aid for over 250,000 people. Of that, over 100,000 people in risk of famine areas in West Darfur have so far received emergency food and nutrition supplies.
Even though we are doing everything we can – it’s just a drop in the ocean compared to the needs, not just in Sudan but regionally. Across Sudan, South Sudan and Chad, around 36 million people have been pushed into hunger because of the ongoing war.
I was recently in Adre, Chad – where around 800,000 people have fled to. After enduring unimaginable violence, they are only met with hunger and destitution. Despite receiving food assistance, many are struggling to get by, eating once a day if they are lucky. Like a teenage girl I met called Thuraya who lost both her parents and is solely responsible for her younger siblings, sometimes only able to offer them water instead of a meal. If that is the situation for people in a comparably safe and stable place – it is hard to imagine what people facing famine or at risk of famine in Sudan are going through. I did get a glimpse from the stories I heard of women who had recently fled from ‘risk of famine’ areas. Women like Nadjua. Nadjua, along with other new arrivals, risked their lives to get to safety in Chad because there was nothing left to eat, and all their crops had been destroyed by floods. Others said they could not farm because it was too unsafe to go their fields. Health and nutrition workers in the camp told me that over half of their malnutrition cases in the camp were new arrivals coming from risk of famine areas in Sudan.
It is people like Thuraya and Nadjua – who are among tens of millions bearing the brunt of the brutal war in Sudan – that world leaders need to pay attention to. It is for them that they need to step up for during the United Nations General Assembly in New York this week. WFP and other aid agencies cannot tackle these challenges alone. We are doing everything we can, but we cannot stop widespread starvation and hunger-related deaths without the support and attention of the international community, too.
World leaders need to give this humanitarian catastrophe the attention it requires. That attention then needs to be translated into concerted diplomatic efforts – at the highest levels – to push for a humanitarian ceasefire and ultimately an end the conflict. We also need the international community to step up in demanding that the warring parties guarantee safe and unfettered humanitarian access and adhere to international humanitarian law. Lastly, we need a surge in funding to address the extraordinary level of need – over $600 million in coming six months, to provide urgent aid to people in the most severe levels of hunger across the region. We would require even more to help everyone who needs it.
For over 500 days the Sudanese people have been bearing the brunt of this war, feeling forgotten and abandoned by the world. They are still holding on to hope that one day they can return to their lives. Together, we owe it to the Sudanese people to step up collective action and prevent mass-scale starvation. The hopes of the Sudanese people, their future, are riding on what we do next. We cannot let them down.
# # #
The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.
Follow us on Twitter @wfp_media
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
Helmut Schlesinger turns 100 on 4 September, an anniversary that adds a wholly new numerical dimension to the honorary title of former Bundesbank President. Helmut Schlesinger is certainly no stranger to accolades celebrating his milestone birthdays. The “Börsen-Zeitung”, for one, marked his 80th birthday by writing that his name is synonymous with the pursuit of monetary stability, in a reference to the Bundesbank’s particular culture of stability, in which Mr Schlesinger’s thinking and attitudes resonate to this day.
Mr Schlesinger’s presidency marked the pinnacle of over 41 years at the Bundesbank and in pursuit of a stable currency. He is rightly regarded as one of the most influential Bundesbankers of all time. The “Börsen-Zeitung” once dubbed him a home-grown product of the Bundesbank, a description that I like a lot. It wrote that Helmut Schlesinger embodied an exceptional period of monetary history, which came to an end as it were with the transition to the euro, characterised, on balance, by the continuity of success.
During the 1950s and 1960s, in the early days of the Deutsche Mark, Mr Schlesinger followed an unusually steep career as a Bundesbank civil servant, culminating in him heading the Economics and Statistics Department. It was a time in which West Germany was experiencing the economic miracle. Under the fixed exchange rate regime, the Bundesbank led the money and credit sector out of planning and currency reform until it was finally opened and liberalised in 1958. Over the entire period, the Bundesbank succeeded in keeping the Deutsche Mark stable.
In 1972, Mr Schlesinger was appointed to the Bundesbank’s Directorate and became its chief economist. The circumstances of the time required a complete realignment of monetary policy: the Bretton Woods exchange rate system teetered and finally collapsed in 1973. Western Europe’s exchange rates entered a new equilibrium – first in the European exchange rate arrangement, then in the European Monetary System (EMS). In economic terms, the 1970s were dominated by oil crises and rising unemployment. The combination of high inflation and a stagnant economy led to a new term being coined: stagflation. At that time, the Bundesbank was the first central bank to introduce monetary targeting. Mr Schlesinger played a key role in translating monetarist theory into a monetary policy strategy.
He always saw the importance of explaining monetary policy, in personal contributions and in the Bundesbank’s Monthly Report, which he edited meticulously and with a sure sense of style. Many at the Bundesbank will remember the notes he made in pencil – he preferred an HB, or medium, hardness grade. As a monetary policymaker, however, some considered him a hard pencil lead, his argumentation consistent, but never simplistic. Time and again, he demonstrated the interaction between economic analysis, theoretical monetary concepts, political decision-making and historical change.
During the 1970s and 1980s, the Deutsche Mark proved one of the world’s most stable currencies. Mr Schlesinger, who was made Vice-President in 1980, was regarded as the “conscience of stability policy”. US Treasury Secretary James A. Baker III is once said to have accused Schlesinger of seeing inflation under every pebble. This period saw the Deutsche Mark evolve into the anchor currency of the EMS. In 1991, Schlesinger was promoted from Vice-President to President – for a tumultuous 26 months. The Bundesbank used interest rate hikes in a bid to bring down the inflation caused by German reunification. Its stubborn high-interest-rate policy met with criticism within Germany and elsewhere. Many of the EMS partner countries likewise blamed the Bundesbank for the currency crises and rounds of depreciation of 1992‑93. When the United Kingdom was forced to withdraw from the EMS in 1992, UK politicians and the British media levelled serious accusations at Mr Schlesinger. Yet he was never a narrow-minded monetary policy nationalist; he followed a clear monetary compass. When Mr Schlesinger, a passionate hillwalker, was asked on a Himalayan tour about the importance of the oldest Buddhist mantra om mani padme hum, he is said to have answered: keep the money supply tight.
Nowadays, the monetary targeting he introduced and that proved so successful back then has a different role to play. The structure of the economy has changed fundamentally. Mr Schlesinger himself always underscored that monetary policy strategy had to be adapted to structural change if it was to maintain monetary stability. Another of Mr Schlesinger’s insights also remains as true now as it was then: Stable money not only needs stability-oriented policies from both the government and the central bank. Business, employers and trade unions, and consumers also need to behave appropriately – what you might call a culture of stability. He established this culture of stability not just within the Bundesbank, but throughout west German society and later German society as a whole. It is a culture that is an obligation to all of his successors in the office of Bundesbank President. As the fifth in this line, I am honoured to offer my felicitations: heartfelt congratulations on your 100th birthday, Helmut Schlesinger!
Source: China State Council Information Office 2
Sun Yuning, deputy head of China’s General Administration of Customs, is under disciplinary and supervisory investigation for suspected severe violations of Party discipline and the law, an official statement said Tuesday.
Sun, also a member of the Party committee of the administration, is being investigated by the Communist Party of China Central Commission for Discipline Inspection and the National Commission of Supervision, according to the statement.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
The interview was conducted by Christian Siedenbiedel.Translation: Deutsche Bundesbank
Mr Nagel, is this terrible wave of inflation finally over?
Yes, I believe this wave of inflation is coming to an end. In its initial phase, it was very challenging, or, as you put it, “terrible”. However, we in the euro area are now well on the way to sustainably achieving our inflation target of 2 %. Based on the Eurosystem projection from June, we should hit this target at the end of 2025. In Germany, the inflation rate of 2 % in August, as measured by the Harmonised Index of Consumer Prices, was a little deceptive, if only for purely technical reasons: the year-on-year rate, that is, compared with August 2023, was more favourable than in other months. We’ll be seeing somewhat higher rates again soon. But I think that we’re past the worst of it: we’ve ridden out the big wave.
Is it still possible that inflation could get out of hand?
I wouldn’t say so. Provided that we don’t see any more unexpected major shocks, like Russia’s invasion of Ukraine in February 2022, for example, then inflation should continue to trend towards 2 %. Nevertheless, we shouldn’t celebrate prematurely and start patting ourselves on the back. We haven’t quite hit our target yet. We must remain vigilant and be wary of the risks on the way back to stable prices – that is our job as a central bank.
How seriously should we be taking the repeated upside surprises to services inflation?
We are taking the higher inflation for services seriously. After all, services make up nearly half of the basket of consumer goods – that’s a lot. In Germany, the prices for services are still rising by around 4 % each year. Strong growth in wages is especially contributing to this. And we are expecting wage settlements in Germany to remain relatively high over the remaining course of 2024 as well. In annual terms, negotiated wages are likely to rise by around 6 %. While there is some fluctuation in the monthly figures, wage pressures in Germany will remain high overall for the time being.
Given this state of affairs, do you think the ECB should risk lowering interest rates for a second time in September?
On the ECB Governing Council, we have stressed that we will not pre-commit to any particular path of interest rates and that we will follow a data-dependent approach to our decisions. Following the interest rate reduction in June, it was a wise move to then wait and see in July and not cut rates any further. For this reason, I will really only be making up my mind at next week’s ECB Governing Council meeting, when I will have a full overview of all the data. As before, we are not flying on autopilot. But I’ll say one thing: I think inflation is making good progress.
When interest rates were first cut in June, only the Governor of the Oesterreichische Nationalbank, Robert Holzmann, voted against the reduction. After all, the ECB had just been forced to adjust its inflation projections upward. Did you not have any concerns in cutting interest rates?
No, I had no concerns in June. From my perspective, the interest rate step was justified by the data. They did not cast any doubt on the general direction of travel, that is, the decline in the inflation rate over a longer period of time. And our monetary policy is still tight, even after the cut in interest rates. However, I do, of course, respect the decision of my colleague Robert Holzmann.
During his time as President, your predecessor Jens Weidmann was often the one who took on the role of the most hawkish member of the ECB Governing Council, the most strident advocate of tight monetary policy. How do you view your role on the Governing Council?
Comparing two completely different situations is always difficult, and it should be up to others to evaluate my work. Our decisions on the Governing Council are reached as a team – one that strives to make responsible monetary policy for the euro area. I wish to seek out solutions together with my colleagues on the ECB Governing Council, which is why I focus more on the team as a whole than on individuals. I think we have done well on this score over the past two years: we have succeeded in bringing inflation down in a challenging environment.
There are economists who fear that inflation could settle at a level noticeably above the ECB’s target of 2 % in the medium term. Do you think that the risk of there being structurally higher inflation in future can be completely ruled out?
In this context, we must clearly distinguish between two things. First, there is the question of whether we are going to see stronger price pressures in the future. That’s something I can’t rule out. We are keeping close tabs on how certain developments are impacting on inflation – these include geopolitical developments, the green transformation and demographic developments. Some academics expect these developments to lead to pressure towards higher inflation rates. A different question altogether is whether inflation will be higher over the long term because of this. And I will be quite clear on this matter: that’s something monetary policymakers hold sway over. Our mandate is price stability.
Would you then say that the ECB is partly to blame for inflation getting out of hand in recent years?
I wouldn’t use the word blame in this context – I consider that to be the wrong category. Hindsight is always 20/20. What is certainly true is that at the end of 2021 – before I joined the ECB Governing Council – it was already foreseeable that the inflation rate would rise, and the ECB continued its asset purchases. In January 2022, prior to Russia’s invasion of Ukraine, we already had an inflation rate of 5 %, which was probably due in part to the coronavirus pandemic. As part of the ECB strategy review that has just begun, we will have to examine the role monetary policy measures, such as asset purchases, played during the low inflation period.
Was it a sticking point that the ECB had committed to tapering asset purchases first before starting to raise interest rates? The economist Markus Brunnermeier mentioned this recently in a discussion with you. As a result, the central bank was unable to respond quickly enough with the interest rate hikes that inflation would have required …
Back then, it was important to gradually ready financial markets for this reversal. This happened through a series of announcements starting from December 2021. If you look at developments in financial markets, then I’d say that the markets understood this communication and were prepared. The ECB thus succeeded in keeping the negative side effects often associated with changes in monetary policy relatively manageable.
In your role as Bundesbank President, how do you view the economic situation in Germany at present. Is it being talked down?
We are navigating an economic situation characterised by strong headwinds. Recent business communications make it clear that certain sectors are under pressure and need to take countermeasures. But I am very much against talking the situation down, because that stimulates exactly those developments that are being lamented.
What do you mean by headwinds?
As a large export economy, Germany is particularly hard hit by the geoeconomic changes happening at the moment. Let me give an example: we export especially large amounts to China, meaning that any slowdown in the economy there impacts us particularly hard. The uncertainty that we are seeing among consumers and firms is a factor as well. As a result, investment in machinery, equipment and vehicles fell by 4.1 % between the first and second quarter. Overall, economic output contracted by 0.1 % in the second quarter. That should serve as a wake-up call. We need to put growth front and centre, and that means investment needs to become a more attractive option again.
So where might impetus to boost growth come from?
I think the Federal Government’s growth initiative is on the right
track: getting rid of bracket creep for taxpayers, cutting bureaucratic red tape, making improvements to depreciation on investments, but also bringing in measures to strengthen incentives to work. These are all sound steps. But, with the summer break over now, they actually need to be put into practice. Words have to be followed up with deeds. It is particularly important that politicians give a clear indication of where things are headed. If there is a dependable setting, firms will start investing more again. The debt brake could also stand to undergo moderate reform, in my view. The Bundesbank has put forward some proposals that would create a little more leeway, provided that Germany keeps to the EU’s rules on debt. But now it’s up to politicians to take action.
How concerned are you by what has happened in Thuringia and Saxony?
I find it very unsettling. Democracy, freedom, openness, including to people from other countries – these are core values. When these are being called into question, we at the Bundesbank cannot just look on dispassionately, either; we need to take a clear stand. A central bank also has a responsibility to society in this regard. And, as you know, we at the Bundesbank have just had renowned historians probe the history of central banking in Germany between 1924 and 1970. I worry when I read about calls for Germany to exit the European Union or leave the monetary union. That sort of thing jeopardises Germany’s position as a business location; it undermines European cohesion. And it’s harmful to our prosperity.
The Bundesbank itself is in the midst of profound change. The plan for the new Central Office in Frankfurt was pared back, there are to be no new high-rises, and eight out of 31 branches are set to be closed. Where do things stand – is more on the way?
Well, that’s already a fair amount that we have planned. This is about making the Bundesbank fit for the future. But it’s also about the Bundesbank’s duty to uphold cost-efficiency. Together with our staff representation committees, we have agreed to let staff work up to 60 % of their hours from home. That has allowed us to significantly downsize our construction plans for Frankfurt. In terms of office space, we can even do without new builds entirely. And we will be designing our future open-plan workspaces in a manner befitting a modern institution. We need to reduce the number of branches because of the trend decline in the use of cash. But the closures will be planned with a long lead time and carried out in a socially responsible way. And we will make sure that the cash supply throughout Germany remains fully intact at all times in future.
So what do the Bundesbank’s staff have to say when they find out they will no longer have their own office in future under these plans?
When the employees first set eyes on their new office environment, there’s bound to be plenty who say it is really great. Despite the success of working from home, it has also taught us how important it is to engage with others. This is tremendously helpful in fulfilling the Bundesbank’s tasks, and that often works better in open-plan workspaces than behind closed doors. It will of course still be possible to go into a quiet space for a while when concentrated individual work is required.
You have also announced your intention to use AI to a greater extent, for example in inflation forecasts. Have there been any successes yet in this regard?
Yes, we are already trialling quite a few things on this front, for example in the area of short-term inflation forecasting. For very complex problems, in particular – which we at the Bundesbank are often confronted with – AI delivers an initial assessment very quickly. We are also already using it to prepare for our meetings. However, for us it is important that AI remains just a tool. People continue to bear responsibility. We remain in the driving seat.
The ECB is currently reviewing its monetary policy strategy again. What would you consider to be important here?
One thing we need to do is to reflect on the past: what was good about the non-standard monetary policy measures, and what was bad? A critical look in the rear-view mirror is important in order to check our use of instruments going forward. Are we well equipped in this context? What topics will be relevant in future?
Would you also want to talk about the inflation target of 2 %?
A review of the inflation target is not on our agenda. We have fared very well with our inflation target of 2 %, also of late. I see no reason to change the target in the current situation.
There was much debate at the time – especially in Germany – about the ECB’s multi-trillion euro asset purchases. Some central bank staff even resigned over the matter. What is your view of this now, after a few years of experience and the realisation of high operating losses at the Bundesbank?
Obviously I would also rather announce profits, and indeed we did have profits over many years. Now, however, we will have to deal with a few years of losses – and we will manage. This is, incidentally, a topic that we communicated at a very early stage. After all, when monetary policymakers purchase assets on a large scale, it is clear that rising interest rates will impact the central bank balance sheet. And this is indeed what has happened. We had to raise interest rates sharply. As the largest central bank in the Eurosystem, the Bundesbank has to shoulder the greatest burden. In the current year, we could potentially see a magnitude similar to that of 2023. Since we have virtually exhausted our risk provisions, we will have to make use of loss carryforwards in the coming years. Nevertheless, an important aspect for me is that the Bundesbank will return to profitability in future. The Bundesbank’s balance sheet is sound as we have large revaluation reserves. For this reason, there is no need for anyone to worry – the Bundesbank does not need any additional capital.
And what’s your takeaway for the asset purchases? Should this instrument be abolished?
One should certainly exercise caution with regard to substantial asset purchases at the zero lower bound. When it comes to safeguarding price stability, it should remain an exceptional instrument for exceptional circumstances. I hope that such exceptional circumstances do not occur again in the foreseeable future. I at least don’t see any signs of this happening. The substantial monetary policy asset purchases were associated with numerous side effects in financial markets. In the strategy review I am calling for a clear delineation of asset purchases at the zero lower bound – we mustn’t overuse this instrument.
© FAZ. All rights reserved.
Source: China State Council Information Office
A staff member walks past the Shenzhen Stock Exchange in Shenzhen, south China’s Guangdong province, Sept. 21, 2020. [Photo/Xinhua]
Chinese stocks rallied on Tuesday, fueled by a package of stimulus measures announced on the same day.
The benchmark Shanghai Composite Index was up 4.15% to 2,863.13 points, and the Shenzhen Component Index closed 4.36% higher at 8,435.7 points.
China’s central bank, top securities regulator and financial regulator earlier in the day announced a raft of monetary stimulus, property market support and capital market strengthening measures to support the country’s high-quality economic development at a press conference.
The country will cut the reserve requirement ratio, lower mortgage rates on existing home loans, and create new monetary policy tools to support the stock market, among others.
These policies, which exceed market expectations, will boost market confidence, stimulate the vitality of market entities, stabilize credit levels, and enhance the sustainability of financial support for the real economy, said Wen Bin, chief economist at China Minsheng Bank.
Gains are seen across the board on the two bourses, with shares related to steel and coal leading the surge.
The combined turnover of stocks covered by the two indices stood at 974.8 billion yuan (about $138.25 billion), up from 551 billion yuan recorded on the previous trading day.
The ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, surged 5.54% to close at 1,615.32 points Tuesday.
Source: China State Council Information Office
An undated file photo shows the entrance to the Chinese Ministry of Commerce in Beijing, capital of China. [Photo/Xinhua]
China’s Ministry of Commerce said Tuesday that it will probe into PVH Corp. of the United States under the unreliable entity list framework for suspected discriminatory measures and other practices violating market trading principles regarding Xinjiang-related products.
The U.S. company is suspected of boycotting cotton products from China’s Xinjiang Uygur Autonomous Region without any factual basis, which seriously undermined the legitimate rights and interests of relevant Chinese enterprises, and jeopardized China’s sovereignty, security and development interests, said the ministry.
Source: Hong Kong Government special administrative region
Following are the opening remarks by the Secretary for Justice, Mr Paul Lam, SC, at the forum titled Hong Kong: The Common Law Gateway for Vietnamese Businesses to China and Beyond in Ho Chi Minh City, Vietnam, today (September 24):Vice President Vo (Vice President of the Vietnam Chamber of Commerce and Industry Mr Vo Tan Thanh), distinguished guests, ladies and gentlemen, Good afternoon, xin chào buổi trưa. Firstly, a very warm welcome, a very big thank you to all of you joining our forum this afternoon co-organised by the Department of Justice of Hong Kong, the Hong Kong Economic and Trade Office in Singapore and the Vietnam Chamber of Commerce and Industry. The theme of today’s forum is “Hong Kong: The Common Law Gateway for Vietnamese Businesses to China and Beyond”. In my opening remarks, I simply wish to try to answer two questions, two very obvious questions that I suppose you have in mind. Firstly, who we are; secondly, why are we here. For the purpose of this forum, I have a very big delegation consisting not simply of government lawyers from my Department. The Department of Justice of Hong Kong is in fact quite similar to the Ministry of Justice in Vietnam. So, a lot of people would think I will be responsible for criminal prosecutions, giving advice to the Government. But perhaps not so well known is that, it is also one of my duties to promote legal services in Hong Kong to friends outside the jurisdiction. Apart from my colleagues from the Department of Justice, I am very fortunate to have the support of about 15 legal practitioners from Hong Kong. They are very experienced legal practitioners specialised in different areas. And in fact we have all together, if I recall correctly, six supporting organisations. And you can tell from the nature of the organisations to have some idea as to who these legal practitioners are representing. We have representatives from the two legal professional bodies in Hong Kong, the Hong Kong Bar Association and the Law Society of Hong Kong. In Hong Kong, we still adopt the British system, we still have a divided legal profession. We have barristers who go to the courts to do advocacy work, and then we have solicitors handling all sorts of legal matters from non-contentious commercial matters to dispute resolution. So the representatives from two legal professional bodies, and then we have representatives from the main arbitration institutions in Hong Kong, including the Hong Kong International Arbitration Centre, HKIAC, which is the main arbitration institute in Hong Kong. We also have the South China International Arbitration Center (Hong Kong), which is also a very important institution. And then we have the AALCO, Asian African Legal Consultative Organization, with a regional arbitration centre in Hong Kong. We also have a representative from eBRAM which provides electronic services, not just for dispute resolution, but also for deal making. So from looking at the nature of these organisations, I hope you will be convinced that we have a wide spectrum of legal practitioners who are going to share their experiences and their knowledge about Hong Kong legal services to you in due course. Having told you very briefly who we are, the second question perhaps is even more relevant and important: Why are we here? What do we aim to achieve in the next couple of hours? We have two hours for the forum. We decided to share with you some of the things about Hong Kong which you may be interested in for the two hours. And I believe many of you will join our dinner after the forum, so it will be around four hours. A lot can be achieved within four hours. As I said earlier, I come across this question quite often. People wonder, in my capacity as the Secretary for Justice, I should be responsible for legal matters. It is not really my responsibility to promote trade and finance. I am not a minister of commerce. So what on earth am I doing here? To answer this very pertinent question, I think we should remind ourselves of the very close relationship between Vietnam and Hong Kong. I think we have to set the scene, we have to put things in context first. As a matter of fact. I am sure you would agree that Hong Kong and Vietnam share very close ties both as a matter of history and also at present. Now we are in the beautiful city of Ho Chi Minh City. Ho Chi Minh is the founding father of Vietnam, and I am sure you would remember that Mr Ho Chi Minh actually founded the Communist Party of Vietnam in Hong Kong in the early 1930s. I had a very quick chat with Vice President Vo just a moment ago. He reminded me that in the last century, from the 60s, 70s, all the way up to 90s, a lot of trade concerning Vietnam actually went through Hong Kong for a lot of reasons. And then fast forward, what is the position as at today? At the moment, I think there are more than 7 000 Vietnamese settling in Hong Kong, because I attended the national day celebration held by the Consul-General of Vietnam last week, so I got all the figures. There are more than 7 000 Vietnamese settling in Hong Kong. We have a lot of good Vietnam restaurants. I like the pho and banh mi. But more than that, we have roads and streets in Hong Kong named after places in Vietnam. We have the Saigon Street, Hanoi Road, so on and so forth. Last October, the Hong Kong Government has relaxed some immigration regulations, and as a result, it is much easier and convenient for Vietnamese talent to come to work in Hong Kong. In addition, the criteria for taking multiple visas, either as tourists or on business, have also been relaxed. And a little bit closer to today, about two months ago, the Chief Executive of the Hong Kong Government came to Vietnam. I think he held a forum exactly in this particular venue. On that occasion, I was told that altogether 22 co-operation agreements have been signed between business people in Ho Chi Minh City and Hong Kong, covering a wide range of areas. And you look at the figures, look at the statistics, Vietnam is Hong Kong’s second-largest trading partner within ASEAN (Association of Southeast Asian Nations) countries. I don’t remember the exact figures, but the amount is huge. And in terms of direct investment in Vietnam, the Vice President also confirmed to me that Hong Kong ranks among the top five. So plainly, if you put the matter in context, the relationship between Vietnam and Hong Kong has always been very close. And we look to the future. The Permanent Deputy Prime Minister of Vietnam actually paid a visit to Hong Kong about two weeks ago to attend the Belt and Road Summit. And he gave a very inspiring speech touching upon the relationship between Vietnam and Hong Kong. He mentioned the development plan of “Two Corridors, One Belt”, which is a very important development plan of Vietnam. He said he is hoping that we can connect the Vietnamese “Two Corridors, One Belt” plan with the Belt and Road Initiative proposed by China. So these two plans actually can have a sort of very good synergy. So this is the background that I would like to remind ourselves. But still you might think, well, I haven’t answered the very pertinent question yet, because so far I did not mention the word “law” very often. So how is legal service, how are lawyers in Hong Kong relevant to what I have said to the future relationship between the jurisdictions? I think the answer must be obvious, because most of you are very successful, very influential business people in Vietnam, and most of you will be engaged in international commercial investment transactions. And you must recognise that no matter how much you hate lawyers, in particular the fees that they are charging you, lawyers are indispensable from the moment you decided to set up a business in a foreign place to the point you have to negotiate or conclude a contract with a foreign party; when it comes to how to manage your risk when you set up a business in a particular place, including: should I be concerned about the labour law there, tax or whatsoever; and in the im
portant event that you run into dispute with your business partner or other people that clearly you will require legal service to assist you to resolve dispute. So the point that I wish to make is that, in the whole business cycle, I would use the analogy “from cradle to grave” but need to be more precise in the context from the inception of a business to the termination, to the point when you rip your profit from your joint venture, at each and every stage, legal service would be indispensable. But that still doesn’t answer the question. Assuming legal service is indispensable, obviously you have to consider who should I instruct? Legal services of which jurisdiction would be to my advantage, would serve my best interest? Now, here comes the ultimate objective of today’s event. I am hoping that after four hours, you will be convinced that Hong Kong will be your best choice. I am not suggesting that Hong Kong is the only choice because the choice is yours, but I am assisting you to make an informed choice. We will be trying our best to persuade you that among all the options, Hong Kong is the best choice. Why? Because Hong Kong is a common law gateway for Vietnamese businesses to China and beyond. This is my short answer. We do have a long answer, but I am afraid that the long answer is not going to be given by me. It is going to be provided by my eminent friends coming from Hong Kong. They will speak from their own area of practices, from their experiences to substantiate the point that I wish to make. And of course, after they share their experiences and what they wish to tell you, at dinner time, I am hoping that most of you would join the dinner, I will have the chance to speak to you again, just to do my closing submission. I will wait for your verdict at the end of your dinner. On this note, I hope you all have a very enjoyable afternoon and a very fruitful afternoon. And I hope that I will be able to convince you, because the duty of a lawyer is to convince people. I will be failing my duty if I am unsuccessful in this respect. I need your support and I am very optimistic because I have very good friends with me doing the job together with me. Thank you very much.
Source: People’s Republic of China – State Council News
HONG KONG, Sept. 24 — China’s research vessel Deep Sea No. 1, carrying manned submersible Jiaolong, received a warm welcome Tuesday in the Hong Kong Special Administrative Region (HKSAR), the first time they visited the city.
The vessel is on a home-bound voyage after completing a scientific mission in the Western Pacific Ocean. During their two-day stay in Hong Kong, scientists on board will give lectures to Hong Kong students and hold a number of international seminars to share the results of this scientific expedition.
Warner Cheuk, deputy chief secretary for administration of the HKSAR government, said that the visits ahead of the 75th anniversary of the founding of the People’s Republic of China fully demonstrated the central government’s care and support for Hong Kong’s marine scientific research development and ecological conservation.
It is hoped that this event will inspire more young people in Hong Kong to engage in deep-sea research and make planet Earth a better place to live in, he said.
Wu Changbin, director of China Ocean Mineral Resources R&D Association, congratulated the successful completion of the Western Pacific international voyage scientific expedition, saying that this voyage not only enhanced China’s scientific understanding of deep-sea biodiversity and ecosystems but also contributed important scientific data to global marine scientific research.
The scientific expedition team of Chinese and foreign scientists set sail on Aug. 10 from Qingdao, east China’s Shandong Province, and made a total of 18 dives in the Western Pacific. It was the first time that foreign scientists have carried out deep-sea scientific research on Jiaolong.
Source: People’s Republic of China – State Council News
BEIJING, Sept. 24 — China has improved its obesity treatment guidelines for private medical institutions as soaring obesity rates threaten the health of people of all ages.
According to a 2020 report from the National Health Commission (NHC), 34.3 percent of the country’s adults were overweight and 16.4 percent were obese. Research predicts that overweight and obesity rates among Chinese adults could reach 65.3 percent by 2030.
Chinese minors are also facing significant weight challenges. Currently, about 19 percent of people aged 6 to 17 and 10.4 percent of children under 6 are overweight or obese.
As treatment options for obesity grow more diverse, more and more patients are turning to health care providers for professional treatment plans. Medication, surgical intervention and lifestyle changes are some of these options.
A new initiative has seen the establishment of a weight management center to offer expert guidance to private health care facilities that provide weight loss services, aiming to enhance their ability to diagnose and treat obesity.
Obesity is regarded as a significant trigger for a variety of chronic diseases, including diabetes and cancer. It is a major obstacle to realizing China’s long-term health goals, such as raising the nation’s average life expectancy to 79 by 2030, as proposed in the country’s Outline of Healthy China 2030.
To combat the rising obesity rates, China has introduced a series of initiatives aimed at raising public awareness of weight management and the importance of maintaining a healthy lifestyle.
In February, the NHC released a set of dietary guidelines to offer advice on food choices and provide recipes tailored to various dietary habits across different regions of China.
Source: US State of Connecticut
Members of the UConn community and the general public are invited to join in a bipartisan conversation about fostering civic and democratic engagement at The Dodd Center for Human Rights at UConn Storrs on Thursday, September 26, 2024, when Congress to Campus comes to UConn.
The flagship program of the nonprofit organization FMC – a bipartisan, voluntary alliance of former U.S. Senators and Representatives who advocate for representative democracy at home and abroad – Congress to Campus offers a unique civic educational experience by engaging honest dialogue with bipartisan teams of former members of Congress, congressional staff, and American diplomats.
“We know from our own work at UConn on programs like Democracy and Dialogues just how powerful it can be to engage in meaningful and civil discussion on the most critical issues we, as a society, are facing,” says James Waller, the inaugural Christopher J. Dodd Chair in Human Rights Practice at UConn and director of Dodd Human Rights Impact Programs, which is hosting the Congress to Campus event.
“We hope that this event will showcase how civil discourse, and even disagreement, can be a productive and healthy part of our democracy,” Waller says.
Congress to Campus sessions have been held on 183 campuses in 43 states and seven countries, reaching more than 57,000 students in the last 10 years alone.
UConn’s Congress to Campus event will feature a discussion with the Honorable Loretta Sanchez (D-CA, 1997-2017), a former senior member of the Armed Services and Homeland Security Committees; and the Honorable Fred Upton (R-MI, 1987-2023), a former chairman of the Committee on Energy and Commerce and top Republican leader of the Subcommittee on Energy.
Their discussion will be moderated by NBC Connecticut anchor and reporter Amber Diaz ’11 (CLAS), and UConn President Radenka Maric will deliver welcoming remarks
While visiting UConn, Reps. Sanchez and Upton will also engage with members of the broader community in a series of workshops small group discussions, keynotes, and classroom visits on topics including civil discourse, messaging and disinformation, democracy and human rights, and participation and inclusion.
The event is co-sponsored by UConn’s Gladstein Family Human Rights Institute, School of Public Policy, Department of Political Science, Undergraduate Student Government, Department of Residential Life, Community Outreach, Office of Outreach and Engagement, and the Nancy A. Humphreys Institute for Political Social Work.
It’s supported by Citizen Travelers, the nonpartisan civic engagement initiative of Travelers.
“We’re so grateful for our many partners on this event, and we hope students as well as members of our UConn community and the greater public will join us for this important conversation,” says Waller.
The Dodd Center is home to robust academic programs and innovative external engagement in human rights, including the Gladstein Family Human Rights Institute, its Dodd Human Rights Impact Programs, the University Archives and Special Collections, and the Center for Judaic and Contemporary Jewish Life.
The outreach and engagement arm of human rights at UConn, Dodd Human Rights Impact works to develop and support programs and initiatives that seek to directly impact local and global communities by helping them meet their human rights challenges.
Space is limited. Please click here to register for this event.
For more information about Dodd Impact, visit humanrights.uconn.edu/dodd-impact-programs.
Source: Hong Kong Government special administrative region
Public urged to stay vigilant against dengue fever and other mosquito-borne diseases during holidays
Public urged to stay vigilant against dengue fever and other mosquito-borne diseases during holidays
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With the approach of the National Day holiday, the Centre for Health Protection (CHP) of the Department of Health today (September 24) appealed to members of the public who intend to travel to stay alert to the situation of mosquito-borne diseases in their destinations. In view of the recent increase in dengue fever (DF) activity in neighbouring areas, the CHP specifically reminded members of the public to adopt necessary anti-mosquito precautions to guard against the disease when travelling abroad. From September 1 to yesterday (September 23), the CHP recorded 12 imported DF cases; the patients had been to Guangdong Province (4), India (3), Nepal (2), the Philippines (2) and Malaysia (1) during the incubation period. The CHP has been closely monitoring the latest DF situation in neighbouring and overseas areas. DF is endemic in many tropical and subtropical areas of the world. The latest surveillance data showed that there was a significant increase in DF cases noted in some places in Asia compared to the same period last year. According to information from the Singapore Ministry of Health, a total of 11 847 DF cases have been recorded from January to September 14 this year, which is higher when compared to 6 755 cases recorded in the same period in 2023. In addition, Malaysia has recorded 98 442 cases from January to September 7 this year, which was a 19.3 per cent increase compared to the same period in 2023. According to the Health Commission of Guangdong Province, the number of DF cases recorded in Guangdong Province in the past three months has been increasing, with 233 and 1 220 cases in July and August 2024 respectively. Most of the cases were locally acquired infection. Information from the Guangdong Provincial Center for Disease Control and Prevention further showed that more than 1 400 DF local cases have been recorded in September (as of September 15), with the highest numbers of cases recorded in Foshan, Guangzhou and Zhongshan. According to the World Health Organization, the global incidence of DF has markedly increased over the past two decades, posing a substantial public health challenge. In 2023, ongoing transmissions, combined with an unexpected spike in DF cases, had resulted in close to a historic high of over 6.5 million cases, and more than 7 300 dengue-related deaths reported in over 80 countries/territories. Since the beginning of 2024, the Americas, including Brazil, Argentina and Peru, have recorded over 11 million cases, a record number. Detailed information on the latest DF situation in Hong Kong, as well as neighbouring and overseas countries and areas, has been uploaded to the CHP website (www.chp.gov.hk/files/pdf/df_imported_cases_and_overseas_figures_eng.pdf). A spokesman for the CHP urged members of the public to stay vigilant and adopt appropriate anti-mosquito measures during their travel to prevent DF, as well as other mosquito-borne diseases including Japanese encephalitis, zika virus infection, malaria, etc. The CHP spokesman reiterated that members of the public should follow stringent anti-mosquito measures when travelling. When travelling to areas where vector-borne diseases are common, they may consider to arrange travel health consultation with a doctor at least six weeks before the journey for risk assessment during which the need for any vaccinations, chemoprophylaxis and vector preventive measures will be determined. The following measures on mosquito control could reduce the chance of acquiring mosquito-borne disease during travel:
Wear loose, light-coloured, long-sleeved tops and trousers;
Use DEET-containing insect repellent on exposed parts of the body and clothing. For details about the use of insect repellents and the key points to be observed, please refer to ‘Tips for using insect repellents’; and
When engaging in outdoor activities, avoid using fragrant cosmetics or skin care products, re-apply insect repellents according to instructions, and apply insect repellents after sunscreen if both are used.
“Returned travellers should consult a doctor promptly if developing symptoms such as fever, respiratory symptoms, rash or painful swelling, and inform the doctor of their travel history for prompt diagnosis and treatment,” the spokesman added. The CHP will continue to monitor the local and overseas situation of infectious diseases and provide the latest information to members of the public in a timely manner for a better understanding of the development of infectious diseases and preparation on precautionary works. For more information, please refer to the CHP website on GAS infection (www.chp.gov.hk/en/healthtopics/content/24/107780.html), DF (www.chp.gov.hk/en/healthtopics/content/24/19.html) and travel health service (www.travelhealth.gov.hk).
Ends/Tuesday, September 24, 2024Issued at HKT 20:00
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Source: United Kingdom UK House of Lords (video statements)
Overhaul inquiries to make them more efficient and effective, says House of Lords committee in new report.
Public inquiries are set up to consider incidents of major public concern, such as the Grenfell Tower fire, the Post Office Horizon scandal and the Covid-19 pandemic.
The Statutory Inquiries Committee has been considering the way these inquiries work. In its new report it found inefficiencies leading to delays and unnecessary costs. It calls on the government to conduct a major overhaul, including supporting an independent body responsible for following up on recommendations and ensuring that those accepted by the government are implemented.
Find out more and read the report in full https://ukparliament.shorthandstories.com/statutory-inquiries-lords-report/index.html?utm_source=youtube&utm_medium=social&utm_campaign=statutory-inquiries-report&utm_content=lords-youtube-channel
#HouseOfLords #PublicInquiries
Catch-up on House of Lords business:
Watch live events: https://parliamentlive.tv/Lords
Read the latest news: https://www.parliament.uk/lords/
Stay up to date with the House of Lords on social media:
• Twitter: https://twitter.com/UKHouseofLords
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#HouseOfLords #UKParliament
Source: ASEAN
Secretary-General of ASEAN, Dr. Kao Kim Hourn, today addressed the China-ASEAN Silk Road E-commerce Open Cooperation Promotion Event in Nanning, China. In his remarks, Dr. Kao emphasized three key areas where ASEAN and China can collaborate to unlock the full potential of e-commerce, including: building on existing digital transformation initiatives, maximizing the benefits of RCEP and ACFTA 3.0, and encouraging greater collaboration between major e-commerce platform to empower MSMEs.
Download the full remarks here.
The post Secretary-General of ASEAN opens the China-ASEAN Silk Road E-commerce Open Cooperation Promotion Event appeared first on ASEAN Main Portal.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
MIL OSI Translation. Region: Russian Federation –
Source: State University Higher School of Economics – State University Higher School of Economics –
The first project of the new season at the HSE ART GALLERY on Pionerka will continue the cycle of paired solo exhibitions of “teachers and students” of the HSE School of Design. This time, the main characters will be the head of the profile “Modern Painting” and its graduates – Vladimir Potapov and Sasha Podgorodskaya.
The format of double solo exhibitions allows, firstly, to present a cross-section of the most significant works of young authors created during their years of study, and secondly, to compare the perspectives of students and their teachers.
The title of Vladimir Potapov’s project, “The Duration of Decay,” refers to the artist’s personal exhibition, “The Moment of Decay,” in the Art Ru Agency space in 2011. For him, this was not only his first solo project in Moscow, but also his first attempt to go beyond the classical painting convention of “canvas and oil.” The exhibition allowed him to chart a path and showed prospects for finding practical answers to the question, “Is painting alive today?”
The various stages of this journey are reflected in the exhibition at HSE ART GALLERY. The works on display belong to different series created by Potapov from 2012 to 2022. This range allows us to cover the author’s wide range of tools and radically different methods that have developed over the course of a decade.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
http://art.hse.ru/gallery/potavov-and-podgorodskaya?roistat_visit=1833079
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.
Source: Organization for Security and Co-operation in Europe – OSCE
Headline: The OSCE Mission to BiH Donates Specialized Equipment to Police K9 Units across the country
The OSCE Mission to Bosnia and Herzegovina has donated specialized equipment to K9 police units. (OSCE) Photo details
The OSCE Mission to Bosnia and Herzegovina (Mission) has donated today specialized equipment to K9 police units across the country. The donation includes essential work gear and is part of the Mission’s project on Addressing Security and Safety Risks of Illegal Possession, Misuse, and Trafficking of Small Arms and Light Weapons (SALW) and their Ammunition in Bosnia and Herzegovina. K9 units will receive muzzles, Kevlar suits, training sleeves, scent detection boxes, specialized SALW suitcases, alpinist equipment for dogs as well as a scent detection carousel, altogether worth approximately EUR 70,000
The equipment will increase the weapons and explosives detection capacities of various agencies across BiH, including the BiH Border Police, the State Investigation and Protection Agency (SIPA), the Police of Brčko District BiH, the Republika Srpska Ministry of Interior, the Federal Police Administration, as well as the Ministries of Interior of the Tuzla Canton, Una-Sana Canton, and Zenica-Doboj Canton.
“We are proud to be able to provide this gear to our partners across the country. It will significantly enhance the ability of police K9 units to detect concealed weapons, ammunition, and explosives,” said Ambassador Brian Aggeler, Head of the OSCE Mission to BiH. “This donation would not have been possible if it were not for our international partners and the support that they have provided to the Project. Through our joint efforts we can help BiH address serious security threats and increases safety for all citizens,” he added.
Mlađen Božović, Chief of Cabinet of the Minister of Security, expressed his satisfaction with the ongoing efforts to equip police agencies, enhancing their operational capabilities in the fight against illegal arms trade. He stated that: “These criminal activities present an increasing security challenge for all countries. Police agencies must adapt by continually strengthening their capacity to detect illegal weapons and disrupt smuggling routes. Preventing the illegal arms trade remains a top priority for the Ministry of Security of Bosnia and Herzegovina. Our goal is to enhance security and prevent criminal activities related to weapons by curbing smuggling, both in the region and across the European Union member states.”
The OSCE Mission to BiH remains committed to support authorities at all levels in mitigating security risks posed by the illegal possession, misuse, and trafficking of SALW and their ammunition. By this commitment, the Mission contributes to creating a safer and more secure environment for all citizens of Bosnia and Herzegovina.
The multi-year project: Addressing Security and Safety Risks of Illegal Possession, Misuse, and Trafficking of Small Arms and Light Weapons (SALW) and their Ammunition in Bosnia and Herzegovina is implemented by the Mission thanks to the generous support provided by Austria, the Czech Republic, the European Union, Germany, France, Liechtenstein, Norway, Slovakia, Türkiye, and the United States.
Source: US Energy Information Administration
In-brief analysis
September 24, 2024
Data source: U.S. Energy Information Administration, International Energy Agency, and Facts Global Energy
The United States is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components), supplying over 16% of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day (b/d), equivalent to about 10% of domestic consumption and enough to fill up the tanks of over 1.5 million SUVs per day, assuming an average tank size of 24 gallons. Other large gasoline exporters, including Singapore and the Netherlands, have never exceeded 700,000 b/d in gasoline exports. China and India have both added significant refining capacity since 2010 and have also increased gasoline exports.
The United States was a net importer of motor gasoline for over a half century from 1961 to 2015. However, that trend changed during the past decade. The high volume of motor gasoline exports in recent years reflects longer trends in increasing U.S. exports of refined products in general, which set records in 2022 and 2023. The growth in U.S. refined product exports reflects several factors, including generally increasing refinery capacity from 2010 to 2023 and rising production from existing refineries through increased utilization. Much of the increase in refinery capacity has led to higher motor gasoline yields because of added light crude oil processing units that process increasing volumes of light tight oil produced by hydraulic fracturing, or fracking. Finally, although refinery capacity has grown, U.S. consumption of gasoline has not, making more gasoline available for export. Motor gasoline consumption in 2023 was flat compared with 2010 (and 0.4 million b/d less than its peak in 2018).
Data source: U.S. Energy Information Administration
Motor gasoline accounts for the third-largest share of U.S. refined product exports, behind propane and distillate fuel oil. Unlike propane, which is primarily exported to Asia, the majority of U.S. motor gasoline exports (over 500,000 b/d) go to Mexico, with the remainder going primarily to Central American and South American countries. Over 90% of U.S. gasoline exports came from the U.S. Gulf Coast (PADD 3).
Principal contributor: Erik Kreil
Source: Deutsche Bundesbank in English
With effect from Monday, 2 September 2024, Dr Sabine Mauderer was appointed Vice-President of the Deutsche Bundesbank. Furthermore, Lutz Lienenkämper and Michael Theurer joined the Bundesbank’s Executive Board. The responsibilities within the Executive Board have therefore been reallocated. The following reallocation of responsibilities comes into effect immediately.
President Dr Joachim Nagel
Economics
Directorate for Board and International Affairs
Communications
Strategy and Innovation
Legal Services
Deputy President Dr Sabine Mauderer
Markets
Controlling, Accounting and Organisation
Sustainability
Burkhard Balz
Cash management
Digital Euro
Payments and Settlement Systems
Centre for International Central Bank Dialogue
Lutz Lienenkämper
Human Resources
Internal audit
Compliance
Michael Theurer
Banking and Financial Supervision
Financial Stability
N.N.
Information Technology
Data and Statistics
Risk Control
Research
Responsibilities within the unallocated area have been temporarily assigned to Dr Joachim Nagel (Risk Control and Research Centre), Dr Sabine Mauderer (Data and Statistics) and Burkhard Balz (Information Technology).
Source: Royal Canadian Mounted Police
Harbour Grace RCMP is continuing to investigate a collision that occurred between two vehicles on the Veterans Memorial Highway on the evening of September 20, 2024.
Shortly before 7:15 p.m. on Friday, police received a report of the collision that occurred on the highway near Tilton. A truck towing a utility trailer crossed over the centre line and collided with an oncoming SUV. Two of the three occupants of the truck fled the scene on foot. The third occupant was located with serious injuries at the scene. The two occupants of the SUV received non-life-threatening injuries. All three individuals were transported to Carbonear General Hospital.
RCMP Police Service Dog (PSD) Marlow and her handler were engaged and, while approaching the scene of the collision, observed a man in a wooded area on the side of the highway. The man, who had serious injuries, was identified as one of the occupants from the truck and was arrested for leaving the scene of the collision. He was transported to the hospital for treatment of serious injuries and was released from police custody.
The third occupant of the truck was tracked by PSD Marlow and her handler from the scene of the collision to a business in Spaniards Bay. Officers learned that the man had departed the business prior to their arrival. Efforts are underway for his arrest.
A quantity of suspected cocaine, as well as numerous prescription pills, were located and seized from inside the truck.
The investigation is continuing with charges pending.
RCMP NL continues to fulfill its mandate to protect public safety, enforce the law, and ensure the delivery of priority policing services in Newfoundland and Labrador.
Source: Royal Canadian Mounted Police
Two youths have been charged following an assault with a weapon in St. George.
On September 16, 2024, at approximately 8:50 p.m., the St George RCMP Detachment responded to a report of an assault on Portage Street, in St. George. When police arrived on scene, they found a 43-year-old male victim. The man was transported to hospital with what were believed to be serious, but non-life-threatening injuries.
Shortly after, police were able to identify two youths of interest. The first youth was arrested September 17, 2024, and the second youth was arrested on September 18, 2024.
On September 19, 2024, the two youths appeared in Saint John Provincial Youth Court, and were charged with aggravated assault. They were both later released on conditions and are expected to return to court at a later date.
Police are asking anyone who may have witnessed the assault to contact the St. George RCMP at 506-755-1130. Information can also be provided anonymously through Crime Stoppers by calling 1-800-222-TIPS (8477), by downloading the secure P3 Mobile App, or by Secure Web Tips at www.crimenb.ca.
The investigation is ongoing.
Source: Africa Press Organisation – English (2) – Report:
NEW YORK, United States of America, September 24, 2024/APO Group/ —
The African Development Bank (www.AfDB.org) has urged Development Finance Institutions (DFIs) and other development partners to scale up innovative partnerships and initiatives to build peace and security in Africa, home to eleven of the world’s most conflict-affected states.
Marie-Laure Akin-Olugbade, African Development Bank Vice-President for Regional Development, Integration and Business Delivery Complex led the charge during a session held September 21, on the sidelines of the 79th Assembly of the United Nations titled: Investing in Prevention: Scaling up Peace – A Call to Action for DFIs.
Over the last 20 years, the level of global conflict has escalated, with one-fifth of Africa’s population residing in conflict affected areas, affecting the future of the world’s fastest-growing continent.
“Our goal today is very clear. We would like to mobilise institutions to prioritise peace building and through innovative partnerships and new financial mechanisms. This is a call for action.” Akin-Olugbade said in opening remarks.
The New Agenda for Peace, which is at center stage of the UN’s Summit of the Future, highlights how different actors, including DFIs can serve as peace agents, and emphasises the role of partnerships, especially in the context of fragile and conflict affected countries, urging increased political and financial mobilisation to prevent conflicts.
The effect of three decades of a devastating civil war in Mozambique are still evident, Amilcar Tivane, Mozambique’s Vice-Minister of Economy and Finance told participants, stressing the need for prevention.
The Mozambique government has learned innovative solutions to deal with the root causes of conflict and to address lingering security challenges in northern Mozambique such as terrorism and insurgency. What has worked is a resilience building strategy together with partnerships, Tivane said. The country is also launching a new initiative for peace for the reconstruction of affected tourism areas
« We have learned that prevention is critical, » he said. « Sometimes its difficult (for governments) to acknowledge that the social dimensions could have a significant impact.»
Issa Faye, Director General of the Islamic Development Bank ( IsDB) said his institution’s blend of ordinary and concessional financing has been key to the successful financial support for 32 fragile African countries out of the 52 they support.
The IsDB have aided thousands of refugees through programmes to address skills gap, training and education, combining economic empowerment and food security.
Faye underlined Islamic financing as a concept framing a lot of the institution’s programmes and stressed the need to find alternative financing which is dedicated, responsive and resilient.
Risk perception, another major constraint to financing peace initiatives in Africa, was the subject of Pradeep Kurukulasuriya, the Executive Secretary of the UN Capital Development Fund (UN CDF), submission. He offered a concrete example of successful de-risking of a peace initiative in Burundi.
« UN DCRF works to de-risk so that larger streams of finance can flow from the larger and more established institutions, » he said.
Since 2021, UNCDF has been working in collaboration with the UN Peacebuilding Fund and the Government of Burundi to address interconnected and transnational root-causes of instability and nature loss in the Kibara National Park and surrounding buffer zones. The joint initiative with several partners including UNESCO, uses a unique blended finance approach.
Peace finance needs new a lens
Itonde Kakoma, President of Interpeace said a new paradigm approach, which moved away from the donor focus and instead sees development partners investing in peace investment hubs and creating a pipeline of peace positive projects, is much needed.
He said the need to connect development finance and peace building while leveraging the private sector to build peace, safety and social cohesion between communities living in complex environments, was more imperative than ever.
« We have a conviction that the Sustainable Development Goals can be unlocked by peace finance, » Kakoma said.
Other participants such as Elizabeth Spehar, Assistant Secretary General, United Nations Peacebuilding Support stressed the importance of inclusion and the role of DFI’s such as the African Development Bank.
“We need the economic might of the DFI’s. We have to work on this together,” she said.
Spehar paid tribute to the African Development Bank which emphasizes peace and security as public goods in its new Ten-year strategy (2024-2033). The Bank’s joint pilot project in Central African Republic with UNHCR has the UN “working with communities on the peace part and the African Development Bank working on the employment part,” Spehar said.
The Bank has been on the forefront of systematically addressing issues of fragility in Africa and has built up over 20 years of experience in building Africa’s resilience by providing intellectual leadership and dedicated financial instruments, such as the Transition Support Facility, which mobilizes additional resources for affected countries. The Bank’s Private Sector Credit Enhancement Facility allows it to do more private investments in these riskier markets.
The audience also heard from the g7+, Asian Development Bank, Civil Society Platform for Peacebuilding and Statebuilding (CSPPS), the World Economic Forum (WEF), the Aswan Forum, UNHCR, and the African Union Peace Fund whose Director Dagmawit Moges spoke of the institution’s reforms and the importance of governance.
“We’ve gone beyond theory and talk. We at the African Development Bank are interested in strengthening partnerships. We are not going to work in silos. We are looking forward to continuing this discussion at COP 29 and at the Africa Resilience Forum next year,” Akin-Olugbade said.
Source: South Africa News Agency
South Africa is set to experience a mix of warm and cool temperatures in the coming days, with a significant drop in temperatures and even light snowfall expected later this month, according to the South African Weather Service (SAWS).
This after the weekend’s freezing temperatures and snowfall in some parts of the country caused havoc on the roads, resulting in one fatality.
READ | Heavy snowfall on N3 claims life of a 39-year-old woman
Forecaster at the South African Weather Service (SAWS) Lehlogonolo Thobela provided an outlook for the week ahead, highlighting warm conditions across much of the country.
“Today we are expecting just warm temperatures over the central parts, ranging between 26 and 30 degrees Celsius, that’s on average in the Northern Cape province.
“In Gauteng, the weather will be cooler in the south but warm in the northern areas, with maximum temperatures reaching about 25 degrees in the north and about 24 to 22 degrees over the southern parts,” Thobela said.
The Eastern Cape will experience varied conditions, with cool weather in the northeastern parts but warmer and even hot temperatures in the south.
“It will be quite cool over most parts of the northeastern parts of the Eastern Cape but warm over most of the province and hot over the southern parts,” Thobela explained.
The Western Cape, meanwhile, will see cooler conditions in the west but warmer weather in the east.
“Just warm temperatures are expected across the country,” Thobela said.
Looking ahead to Wednesday, Thobela forecasted hot temperatures in the Lowveld of Mpumalanga, with highs of 34 degrees Celsius, and similarly warm to hot conditions in Limpopo.
“It will be warm over most parts of the country, with maximums between 25 and 30 degrees over the central parts,” he noted.
He said that cooler weather will persist in the Western Cape, especially along the west coast, where temperatures are expected to reach a maximum of 22 degrees.
The heat is set to continue through the week, especially in Limpopo and the northern parts of KwaZulu-Natal, with hot conditions predicted for the 26th and 27th of September.
“It will be hot over most parts of Limpopo on the 26th and 27th,” Thobela said.
Central regions like the Free State, North West, and Gauteng will remain warm during this period.
However, a significant temperature drop is expected later in the month, starting on the 29th of September.
“It will be cold over the southern parts, and the Western Cape will be very cold, with maximums ranging between 10 and 14 degrees Celsius,” Thobela said.
The Eastern Cape will remain cool, with colder conditions in the central and southwestern parts.
On the 30th of September, cold conditions will spread to KwaZulu-Natal and parts of the Free State.
“There is some light snow expected over the highland areas of the Eastern Cape, as well as the southwestern parts of KwaZulu-Natal and the border of Lesotho, between the 30th [of September] and the 1st of October,” Thobela revealed, though he assured that the snowfall would be light.
The cold snap will extend to the escarpment of Mpumalanga and KwaZulu-Natal on the 1st of October, with temperatures starting to recover by the 2nd.
South Africans are advised to prepare for fluctuating temperatures and possible snow in high-lying areas over the next week. – SAnews.gov.za
Source: Google
It’s been less than six months since Google Cloud Next, and the pace of innovation across industries has been nothing short of extraordinary. We’re proud of our AI leadership and differentiation as we continue pushing the technology frontier for our customers. From launching more powerful versions of Gemini 1.5 Pro, to rolling out general availability for Gemini Flash and Imagen 3, to investing in our Vertex AI platform, our teams have been building off the product momentum of Next. And all of this innovation is driving incredible use of our products.
Today, as part of our Gemini at Work global event, we are showcasing nearly 50 new customer stories from organizations around the world to highlight just how impactful generative AI can be when you put it to work at scale — including Pods, Snap, Volkswagen US, Warner Bros. Discovery and many others. We’re inspired by what customers are building and excited by how quickly they’ve been able to move ideas from experimentation into production with our Vertex AI platform. We’re also seeing major boosts in productivity through Gemini for Google Workspace, with customers saving an average of 105 minutes per user, per week, according to our recent study of enterprise customers.
This builds upon the momentum we’ve seen in recent months, as we’ve announced new or expanded partnerships with leading brands like Airtel, Asteroid Institute, CMA CGM, Eiffage Partners, Hudson River Trading, Humana, LG AI Research, Motorola, New AIM, Nova Scotia Health, and Telefonica. When we speak to our customers and partners, they are choosing Google Cloud as their strategic gen AI partner and platform for four distinct reasons:
We continue to see customers and partners benefiting from AI agents — intelligent systems that go beyond simple chat and predictions, to proactively take actions. What makes AI agents unique is they help achieve specific goals, whether that’s guiding a shopper to the perfect pair of shoes, helping an employee look for the right health benefits, or supporting nursing staff with smoother patient hand-offs during shift changes. We see AI agents centering around six use cases:
Customer agents work seamlessly across channels including the web, mobile, and point of sale, and can be integrated into product experiences with voice and video.
We continue to build on this momentum with our own packaged agents. For example, today we are announcing Customer Engagement Suite with Google AI, an end-to-end application that combines the rich features of our leading Contact Center AI solution with the latest gen AI capabilities.
This new solution offers four key benefits:
All of this can be connected with any customer service application — whether it’s a SaaS application like Salesforce, Servicenow, SAP, Dynamics, or Oracle — or an on-premise app.
Employee agents can streamline processes, manage repetitive tasks, answer employee questions, as well as edit and translate critical communications.
The employee agents we deliver through Gemini for Google Workspace, our leading collaboration and productivity tools, are helping customers get more done, with greater confidence and in less time. In a recent survey of our enterprise customers using Gemini, we found they save an average of 105 minutes per user, per week. And it’s not just about getting more done, but getting it done really well — 75% of daily Gemini for Workspace users say it improves the quality of their work.
To help more people boost productivity with AI, we’re making the Gemini app with enterprise-grade data protection available as part of existing Google Workspace subscriptions. Starting next month, customers will have a round-the-clock brainstorming partner, research assistant, and more, to help where they need it most.
Data agents can help answer questions about internal and external sources, synthesize research, develop new models — and, best of all, help find the questions we haven’t even thought to ask yet, and then get the answers.
Security agents automate monitoring and response for greater vigilance and compliance controls. They can also help guard data and models from cyberattacks, such as malicious prompt injection.
Creative agents can empower organizations with the best design and production skills, working across images, slides, and more. Many businesses are building agents alongside their marketing teams, audio and video production teams, and creative teams to help explore and build creative concepts.
The success of AI depends on an open platform that offers choice, is easy to integrate with existing systems, and is supported by a broad ecosystem. Google Cloud works closely with important partners, like Accenture and Deloitte, who report more than 45% of their Google Cloud gen AI projects have moved from proof of concept to production. In addition, expanded partnerships and dedicated Google Cloud centers of excellence with Accenture, BCG, Cognizant, Deloitte, HCLTech, KPMG, McKinsey, PwC, and Wipro have spurred thousands of successful projects. This collaborative ecosystem is the key to unlocking AI’s true potential. At Google Cloud, we truly value our partnership with this ecosystem, which is vital to helping our entire industry in its transformation — from systems updates to organizational change management to an overall mindset shift.
We’re inspired by the ingenuity and speed with which our customers are embracing gen AI. And we continue to work hard to partner with customers to help them deliver real business value in the form of incremental leads, conversions, sales, and profits. We’re committed to taking a bold and responsible approach to make AI helpful for everyone, helping organizations of all sizes solve real-world challenges in entirely new ways.
This is the new way to cloud. It’s a journey we’re on together with all of you — our customers and partners — all around the world.