NewzIntel.com

Category: Economics

  • MIL-OSI Economics: SafeTrades: BaFin warns about website safetrades.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about services offered by SafeTrades, London, UK, on its website safetrades.com. BaFin has information that the company is offering financial services without the required authorisation. The company does not provide its full company name or legal form.

    Financial services may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this. However, some companies offer these services without the required authorisation. Information on whether particular companies have been authorised by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    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.

    MIL OSI Economics –

  • MIL-OSI Economics: The Gambia: IMF Staff Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility Arrangement

    Source: International Monetary Fund

    November 4, 2024

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • IMF staff and the Gambian authorities have reached a staff-level agreement on economic policies to conclude the second review of the program under the Extended Credit Facility (ECF) arrangement.
    • Economic recovery is strengthening while inflation has decelerated significantly.
    • The Gambia’s reform agenda is advancing despite challenges to fiscal policy.

    Washington, DC: An International Monetary Fund (IMF) team, led by Ms. Eva Jenkner, held discussions in Washington DC with the Gambian authorities. The discussions followed those in Banjul from September 30 to October 11, 2024 (see PR 24/367). A staff-level agreement was reached on the second review of the program supported under the 36-month Extended Credit Facility (ECF) arrangement approved in January 2024 for total access of SDR 74.64 million (about US$99.4 million). Subject to approval by the IMF’s Executive Board, the completion of the review would enable a disbursement of SDR 8.29 million (about US$11.04 million), bringing the total disbursement under the arrangement to about US$33.1 million. The Board date is tentatively scheduled for December 20, 2024.

    At the conclusion of the discussions, Ms. Jenkner issued the following statement:

    “The authorities remain committed to their reform agenda and program objectives.

    “Economic activity is strengthening. Economic growth remains estimated at 5.8 percent for 2024, supported by agriculture, services, telecom, and construction sectors. Inflation reached 10 percent at end-September 2024, from a peak of 18.5 percent at end-September 2023, remaining above the central bank’s medium-term objective of 5 percent.

    “Continued policy discussions mainly focused on the fiscal trajectory for 2024 and 2025 with the aim of maintaining fiscal responsibility. This includes increasing the room for responding to large social and developmental needs, protecting the most vulnerable, addressing climate related risks and vulnerabilities, and ensuring gradual clearance of central government arrears and unsettled commitments.

    “The ECF supported program is anchored on a medium-term fiscal framework aiming to reduce debt vulnerabilities and to maintain overall macrofinancial stability.

    “The mission would like to thank its counterparts for candid and constructive discussions.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    MIL OSI Economics –

  • MIL-OSI Economics: Airbus signs historic contract to provide 19 H135 military training helicopters to the Royal Canadian Air Force

    Source: Airbus

    Headline: Airbus signs historic contract to provide 19 H135 military training helicopters to the Royal Canadian Air Force

    Airbus Helicopters has signed a landmark contract with SkyAlyne, a joint venture between Canadian defence leaders CAE and KF Aerospace, to provide the Royal Canadian Air Force (RCAF) with 19 Airbus H135 helicopters to train the next generation of RCAF Pilots.

    MIL OSI Economics –

  • MIL-OSI Economics: Airbus signe un contrat historique et fournira 19 hélicoptères d’entraînement militaire H135 à l’Aviation royale canadienne

    Source: Airbus

    Headline: Airbus signe un contrat historique et fournira 19 hélicoptères d’entraînement militaire H135 à l’Aviation royale canadienne

    Airbus Helicopters a signé un contrat historique avec SkyAlyne, une coentreprise entre CAE et KF Aerospace, chefs de file de la défense canadienne, pour fournir 19 hélicoptères Airbus H135 à l’Aviation royale canadienne (ARC), pour la formation de la prochaine génération de pilotes de l’ARC.

    MIL OSI Economics –

  • MIL-OSI Economics: cmc-central.net: BaFin warns consumers about website and identity fraud

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The operators of the website refer to themselves as CMC Central AG and give a business address in Zurich, Switzerland. BaFin already published a warning about the largely identical cmc-central.pro website on 7 August 2024.

    BaFin has recently become aware of a number of websites with almost identical content and has also warned consumers about them. In each case, the website’s homepage displays the phrase: “Step Into the Trading Arena with Confidence & [name of website]“.

    BaFin advises consumers that the website cmc-central.pro and/or its operators have no business relationship with the company CMC Markets Germany GmbH, domiciled in Frankfurt am Main, Germany, which is registered with BaFin. This is a case of identity fraud committed against CMC Markets Germany GmbH.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    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.

    MIL OSI Economics –

  • MIL-OSI Economics: How energy companies are using AI to capture and store carbon, even underground

    Source: Microsoft

    Headline: How energy companies are using AI to capture and store carbon, even underground

    During a time of both rapid transformation and intense scrutiny, today’s energy industry leaders are increasingly turning to advanced solutions in AI and data management to drive sustainability and efficiency as the global community works to combat climate change. This is a time-sensitive effort, as increased energy demand and the continued role of fossil fuels mean emissions could keep rising through 2035.1 As energy leaders look to reduce greenhouse gas emissions, the carbon capture and storage (CCS) industry has become a key component in the approach. Industrial carbon management (ICM) encompasses a range of technologies designed to capture, transport, and store carbon dioxide (CO2) underground to prevent it from entering the atmosphere. Microsoft is actively collaborating with energy companies on industrial carbon management solutions. One example of this collaboration is Northern Lights, a partnership between the Norwegian government and energy companies Equinor, Shell, and TotalEnergies, which is now fully operational. This groundbreaking initiative was established to accelerate decarbonization and address emissions as we all work towards a more sustainable future.  

    Microsoft for energy and resources

    Achieve more in the energy and resources industry with trusted data and AI solutions

    Transforming the global energy industry is not a small feat, nor one that happens without the collective work of dedicated partnerships and innovative technology. The standardized data model and secure data sharing in Microsoft Azure Data Manager for Energy along with operations data management powered by Azure AI and Microsoft Copilot can accelerate innovation across the end-to-end CCS value chain. Copilot and Azure Data Manager for Energy put data and AI to work, integrating industry datasets, applications, and other cloud services—managing intensive workloads at global scale, and quickly ingesting data for analytics and decision-making. These are high-impact capabilities that ultimately help energy companies accelerate their transition to more sustainable practices by reducing time, costs, and risks associated with their complex operational requirements.     

    Enhancing energy operations with modern data management  

    Data modernization is a critical component in advancing sustainability and CCS efforts within the energy sector. By leveraging Azure Data Manager for Energy, energy companies can efficiently manage and analyze vast amounts of data—enabling more accurate and comprehensive simulations of subsurface reservoirs. This capability is essential for identifying optimal CO2 storage locations and ensuring the safe and efficient injection and storage of carbon dioxide.  

    The platform’s robust, scalable, and secure data management solutions allow for real-time data integration and continuous model refinement, which are crucial for making informed decisions and mitigating risks. Additionally, Azure Data Manager for Energy’s high-performance computing capabilities enable rapid simulations, which significantly reduce the time required for planning studies and optimizing reservoir performance. These high-impact capabilities ultimately help energy companies accelerate their transition to more sustainable practices by reducing time, costs, and risks associated with their complex operational requirements. 

    Harnessing the power of AI with Copilot 

    Along with data modernization and robust data analytics, Azure Data Manager for Energy users will have the option to take advantage of Copilot to interact with well data. Azure Data Manager for Energy helps ingest and organize domain-specific data from across the enterprise data landscape to enhance data access, analysis, and application interoperability. Developed in alignment with OSDU® standards, Azure Data Manager for Energy helps get the right data organized within the right domain workflow while providing trustworthy data delivery that sets the stage for improved and timely analysis.  

    However, the enterprise data landscape for any analysis may extend beyond domain-specific data types and require reports with different file types, as well as images, data and records stored in other databases, spreadsheets, and shared folders. Further, the entire value chain extends into data from operations, supply chain, health, safety and environment (HSE), enterprise resource planning (ERP), legal and compliance, and even social media—some of which may be hosted on external platforms.  

    In these scenarios, generative AI capabilities can help users optimize data for enhanced insights—faster. One example of how to approach this is with Microsoft Fabric, an end-to-end analytics and data platform. Fabric can help integrate the data in Azure Data Manager for Energy with other adjacent data sources, ultimately preparing it for analysis and other interactions through AI and Copilot. This means users can potentially run traditional AI-powered workflows such as automated interpretation of data or event prediction through machine learning-driven algorithms. They can also leverage Copilot to chat with the data or implement intelligent search, domain-based intelligent assistants, or cross-domain intelligent advisors.  

    In doing so, end users—people in roles across geoscience or petrophysics—have an easier and faster way to interact with and query their data, both within and outside Azure Data Manager for Energy. Plus, data engineers and data scientists have a foundation from which to build similar solutions for their end users. The Copilot capabilities also mean simplified research processes and the generation of valuable data insights, enabling enterprise and business unit leaders, as well as data scientists and geophysicists, to make more informed decisions and take advantage of greater efficiencies in reservoir management.  

    Optimize carbon capture and storage and enhance reservoir management 

    Building on the capabilities of Copilot and Azure Data Manager for Energy, we can further optimize CCS to work towards a more sustainable future. Reservoir modeling is a critical aspect of modern energy management, playing a vital role in the underground storage of CO2. This multidisciplinary field involves the integration of geological, geophysical, thermal, and engineering data to create detailed models of subsurface reservoirs. Reservoir engineers create models that simulate the behavior of fluids within the reservoir to predict future performance and optimize injection and production strategies. With global energy demand projected to increase 47% by 2050,2 the need for sustainable energy solutions and CCS is paramount.  

    Microsoft is working with partners to provide the efficiency, predictive power, and speed of reservoir simulations and optimizations. Built on top of Azure Data Manager for Energy, customers can now leverage Azure’s robust enterprise capabilities in security, scalability, and reliability, while accessing its domain-specific solutions and maintaining full control over their data.   

    Traditionally, identifying optimal CO2 storage locations requires lengthy studies, sometimes spanning months or even years. The work Microsoft is doing with partners transforms this process by enabling scalable and efficient simulations. This will enable engineers to run numerous models in parallel, leveraging high-performance computing to quickly analyze vast datasets and identify the best storage locations. The ability to perform rapid simulations at scale significantly reduces the time required for planning studies.

    Explore more energy solutions and resources 

    At Microsoft, our dedication and commitment to accelerating the energy transition to carbon-free resources is matched only by the power of our partner ecosystem and the knowledge-sharing that makes it all possible. With Azure Data Manager for Energy, industry leaders can connect to an open ecosystem of interoperable applications from independent software vendors (ISVs) and the Microsoft ecosystem of productivity tools. By harnessing capabilities and features from across Microsoft and partner solutions, energy leaders can optimize value across their entire enterprise while working towards sustainability goals.  

    Ready to dive deeper? Check out additional resources to learn more. 

    Accelerate the energy transition today

    1McKinsey & Company, Global Energy Perspective 2024, September 2024.

    2S&P Global, Global energy demand to grow 47% by 2050, with oil still top source: US EIA, October 2021.

    Uwa Airhiavbere

    Chief Commercial Officer, Worldwide Energy and Resources Industry

    Uwa Airhiavbere is the Chief Commercial Officer of Microsoft’s Worldwide Energy & Resources Industry group, overseeing commercial strategy and growth initiatives. He previously had a successful career at General Electric in the Oil & Gas Division. Uwa holds an Executive MBA from Cornell University, an MA in International Relations from Johns Hopkins University, and a BA in Business Economics from Brown University.

    See more articles from this author

    Sverre Brandsberg Dahl

    General Manager, Energy, Microsoft Cloud for Industry

    Sverre is the General Manager for Microsoft Cloud for Industry, Energy team. Here he works with a range of engineering teams to bring the latest technological developments in Cloud Computing and AI to the energy industry. With a passion for technology and innovation, he is helping to position Microsoft with customers, partners, and governments as they accelerate their adoption of cloud technology, while giving equal focus to the transition to clean power and emissions management.

    See more articles from this author

    Neeraj Joshi

    Chief Technology Officer, Energy and Resources, Microsoft

    Neeraj Joshi serves as the Chief Technology Officer for WW Energy & Resources in IPS, where he leads in-depth technical collaborations to drive digital transformation within the Energy sector. With over two decades of experience at Microsoft, he is deeply passionate about data and is committed to assisting strategic customers in modernizing their solutions. Mr. Joshi holds an MBA from the University of Washington and an MS in Computer Engineering from UT Austin.

    See more articles from this author

    MIL OSI Economics –

  • MIL-OSI Economics: Thales: Launch of the 2024 Employee Share Ownership Plan

    Source: Thales Group

    Headline: Thales: Launch of the 2024
    Employee Share Ownership Plan

    Thales (Euronext Paris: HO) announces the launch of its 2024 employee share ownership plan, running from Monday 4 November to Friday 24 November 2024. This offer is available to Thales employees across 36 countries who are participants in the Group Savings Plan and have at least three months of seniority as of 24 November 24 2024, as well as to the company’s retirees. ​

    The plan offers a 20% discount on the Thales share price, along with a 50% matching contribution on personal investment up to a maximum of €500, funded by Thales. ​

    The objective of this plan is to strengthen the bond between Thales and its employees by providing them with the opportunity to become more closely associated with the Group’s goals, performance, and future successes.

    Terms of the 2024 Employee Share Ownership Plan

    This share offer is available to employees in France, South Africa, Germany, Saudi Arabia, Australia, Belgium, Brazil, Canada, China, Colombia, Denmark, Egypt, United Arab Emirates, Spain, the United States, Finland, Hong Kong, India, Israel, Italy, Japan, Luxembourg, Mexico, Norway, the Netherlands, the Philippines, Poland, Portugal, Qatar, Czech Republic, Romania, Singapore, Sweden, Switzerland, and Turkey who are eligible and participate in the Group Savings Plan. ​

    In the United Kingdom, Thales shares will be offered through a Share Incentive Plan (SIP).

    Offered Shares ​

    The Thales share offer to Group employees will be conducted through the transfer of existing treasury shares previously repurchased by Thales under a share buyback programme authorised by the shareholders’ general meeting in accordance with Article L. 22-10-62 of the French Commercial Code. The transfer of shares to employees and retirees participating in the Group Savings Plan will be carried out under the provisions of Articles L. 3332-18 and following of the French Labour Code, except for the offer in the United Kingdom, where it will be conducted under an SIP. ​

    On 3 April 2024, the Board of Directors decided to implement this employee share ownership plan and delegated the necessary powers to the Chairman and CEO for its execution. In line with the Board’s decision, the offer will cover a maximum of 600,000 shares, with a cost cap of €31 million (including the discount and matching contributions in the employee share ownership plan and SIP matching contributions).

    The Chairman and CEO, by delegation from the Board of Directors, set the subscription period dates and acquisition price by decision on 28 October 2024. The acquisition price is set at 80% of the reference price. ​

    The reference price, noted by the Chairman and CEO on 28 October 2024, is the average of Thales’s opening share prices on the Euronext Paris market over the twenty (20) trading days preceding this date, amounting to €149.61. Accordingly, the acquisition price for employees is €119.69. For the offer in the United Kingdom, the acquisition price will be determined in accordance with the applicable SIP rules. ​

    The shares acquired by offer participants, being existing ordinary shares, are fully assimilated with the existing ordinary shares that make up Thales’s share capital. ​

    Offer Conditions

    • Eligible Offer Participants: The offer is open to employees of the included companies who are part of the Group Savings Plan, regardless of their employment contract (permanent or fixed-term, full-time or part-time) and with a minimum of three months’ seniority. Retirees and early retirees from Thales’s French companies who joined the Group Savings Plan prior to their departure are also eligible, provided they have maintained holdings in the Group Savings Plan since retirement or early retirement. ​
    • Included Companies:
      • Thales, with share capital of €617 825 739, headquartered at 4 rue de la Verrerie, 92190 Meudon, France, and ​
      • Thales Group companies in which Thales holds, directly or indirectly, more than 50% of the share capital, with headquarters in France, South Africa, Germany, Saudi Arabia, Australia, Belgium, Brazil, Canada, China, Colombia, Denmark, Egypt, United Arab Emirates, Spain, the United States, Finland, Hong Kong, India, Israel, Italy, Japan, Luxembourg, Mexico, Norway, the Netherlands, the Philippines, Poland, Portugal, Qatar, Czech Republic, Romania, Singapore, Sweden, Switzerland, and Turkey, who are (or will be) participants in the Group Savings Plan.
    • Participation Methods: Shares will be acquired through employee mutual funds (FCPE) or directly, depending on the country, and via a Trust within the SIP framework. ​
    • Share Purchase Formula: Employees may acquire Thales shares through a classic subscription formula. Employees will receive a 50% matching contribution from their employer on their subscription amount, capped at a maximum contribution of €500. ​
    • Voting Rights: Voting rights attached to the shares will be exercised by the FCPE supervisory board in FCPE countries, and directly by employees in countries where shares are held directly.
    • Subscription Cap: Annual contributions by offer beneficiaries to the Group Savings Plan may not exceed a quarter of their gross annual salary, in accordance with Article L.3332-10 of the French Labour Code. ​
    • Share Retention Requirement: Employees participating in the offer must retain their corresponding FCPE shares or directly held shares for five years, except in cases of early release as defined by Article R. 3334-22 of the French Labour Code or local regulations. For shares acquired through the SIP in the United Kingdom, the retention conditions differ depending on the share type (partnership or matching shares).

    Indicative Operation Timeline ​

    • Subscription Period: From 4 November 2024 (inclusive) to 24 November 2024 (inclusive). ​
    • Offer Settlement Delivery: Scheduled for 17 December 2024. ​

    Listing ​

    Thales shares are listed on the Euronext Paris market (ISIN Code: FR0000121329).

    This press release has been prepared in accordance with the exemption from publication of a prospectus provided for in Article 1.4(i) of Prospectus Regulation 2017/1129.

    International Notice

    This release does not constitute a sales offer or a solicitation to acquire Thales shares. The Thales employee share offer will be conducted only in countries where such an offer has been registered or notified to the relevant local authorities and/or approved by a local authority prospectus, or where an exemption applies regarding the need for a prospectus or offer registration or notification. ​

    More generally, the offer will only take place in countries where all required registration procedures and notifications have been completed, and necessary authorisations obtained. For residents of Israel, the offer is conducted in accordance with the Information Document available on the website dedicated to the offer.

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies specialized in three business domains: Defence & Security, Aeronautics & Space, and Cybersecurity & Digital identity.

    It develops products and solutions that help make the world safer, greener and more inclusive.

    The Group invests close to €4 billion a year in Research & Development, particularly in key innovation areas such as AI, cybersecurity, quantum technologies, cloud technologies and 6G.

    Thales has close to 81,000 employees in 68 countries. In 2023, the Group generated sales of €18.4 billion.

    MIL OSI Economics –

  • MIL-OSI Economics: Call for Applications Digital Spark Challenge 2024

    Source: ASEAN

    Widely used social media platforms and rapidly evolving applications facilitate the fast and extensive dissemination of information. With social media and internet users spending a large amount of time online, young people can be vulnerable to fake news and become the targets and/or inadvertent disseminators of false information.
     
    Indonesia and Australia will co-host the Digital SPARK Challenge 2024 (hereinafter also referred to as the ‘Ideathon’) from 30 September to 3 October 2024 in Jakarta, Indonesia, in collaboration with The Asia Foundation and Love Frankie as the organising committee. The Ideathon will provide a platform for youth from ASEAN Member States (AMS), Timor-Leste and Australia to exchange views and pitch their ideas on innovative ways to address fake news and its impacts through social media campaigns.
     
    Through a 4-day immersive workshop, up to 24 teams of two (two teams from each participating country) will be invited as participants of the Ideathon to develop a deeper understanding on fake news identification and mitigation, as well as its impacts to society, and be equipped with communication and advocacy tools to address them. Participants will be guided through a collaborative and participatory learning process to develop ideas for powerful online campaigns to address this issue. Selected experts will serve as on-site mentors and judges. The winning team will be further supported to implement their campaign idea.
     
    Eligibility

    Below criteria and qualifications are applicable for every member of each team:
     
    Each team must consist of two (2) persons only.
    Must be between 18-25 years old at the time of application.
    Members of each team must be citizens of the same participating country (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, The Philippines, Singapore, Thailand, Viet Nam, Timor-Leste, and Australia).
    Must not be government officials or affiliated with government.
    Must have the ability to travel (in-country and cross country) and own legitimate travel documents, such as a passport that is valid for at least six months beyond the date of arrival in Indonesia.
    Must be available to fully attend a 4-day program in-person in Jakarta, Indonesia from 30 September to 3 October 2024 (plus travel days).
    Both members of the winning team must be committed to collaborate with the organising committee in developing the campaign idea for implementation.
    Must be able to work and communicate in English.
    Have basic knowledge and experience in using social media platforms for creating online contents for public communication and accessing digital public data.
    Possess the ability to access the Internet and have relevant computer proficiency.
    Be highly motivated to engage collaboratively with representatives from diverse communities in order to strengthen understanding and enhance personal growth in alignment with the program’s goal.
    Demonstrate leadership skills, motivation, time management, accountability, and strong commitment to promoting social impact.
    Themes

    The Digital SPARK Challenge 2024 will focus on two main themes:
     
    Fake news, such as misinformation, disinformation, malinformation.
    Content manipulation, such as AI-generated contents, deepfakes.
    Other important issues such as hate speech, online bullying, privacy violation and online scams can also be covered as they relate to the above themes.

    Award

    All participants will have the opportunity to engage and learn from relevant experts during the Ideathon and will receive certificates of completion.
    In addition, the first-place winner will be awarded:
     
    Grant funding and ongoing mentorship support for campaign implementation.
    Campaign amplification and integration through ASEAN official communication channels.
    Registration
     
    Teams of two (2) participants each are required to register together. To apply, please fill in the form by 8 September 2024. You will be asked to provide your general information as well as provide short responses detailing your initial campaign idea in accordance with your selected theme. Applications will be assessed based on your response to the selection questions. The selected teams will be contacted by the organising committee.
     
    Selected teams will be supported with travel to/from Jakarta and accommodation during the program.
     
    For any questions, please contact Pattamon Wattanawanitchakorn (tae@lovefrankie.co) and taf.thailand.meeting@asiafoundation.org.

    The post Call for Applications Digital Spark Challenge 2024 appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Joby Aviation and Toyota Accelerate Efforts to Realize Air Mobility

    Source: Toyota

    Headline: Joby Aviation and Toyota Accelerate Efforts to Realize Air Mobility

    Toyota Motor Corporation (Toyota) and Joby Aviation (Joby) came together at Toyota’s Higashi-Fuji Technical Center (Shizuoka, Japan) to assert their collective passion and ambition for air mobility in a gathering that included executives from both companies, Akio Toyoda, the chairman of the Toyota Group, and Joby CEO and founder, JoeBen Bevirt, along with Joby’s air taxi, an electric vertical takeoff and landing aircraft (eVTOL).

    MIL OSI Economics –

  • MIL-OSI Economics: Tanzania marks record agricultural achievement as African Development Bank President Adesina urges investment in Africa

    Source: African Development Bank Group
    Tanzania is setting new benchmarks in food self-sufficiency across Africa, raising hope that the fight against hunger and malnutrition on the continent is achievable.
    President Samia Suluhu Hassan of Tanzania said her country had reached 128 percent food security and is now exporting surplus to neighbouring…

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN to conduct a Working Visit to the Kingdom of Thailand

    Source: ASEAN

    At the invitation of H.E. Police Colonel Tawee Sodsong, Minister of Justice of the Kingdom of Thailand, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will lead the ASEAN Secretariat delegation for a Working Visit to Thailand, on 5-6 November 2024. During the working visit, Dr. Kao is planned to meet with high-ranking officials from the Royal Thai Government to discuss, among others, Thailand’s role in strengthening ASEAN’s collective law enforcement efforts against transnational crime and illicit drugs.

    As part of the visit, Dr. Kao will also engage with youth in local communities, including sentenced persons, with the aim of supporting them with their future growth and reintegration into society, where Dr. Kao will deliver a special lecture on “Educating for a Better Life: Fostering Quality Citizens” to inspire youth at the Central Juvenile Correctional Institution. Additionally, Dr. Kao will visit the Central Women Correctional Institution to observe Thailand’s rehabilitative and corrective efforts in fostering a safer and more inclusive society. This working visit will reinforce ASEAN’s cooperation in law enforcement, justice, and security, while underscoring the shared commitment to youth empowerment and supporting rehabilitation efforts within ASEAN communities.
    The post Secretary-General of ASEAN to conduct a Working Visit to the Kingdom of Thailand appeared first on ASEAN Main Portal.

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  • MIL-OSI Economics: ICC calls for continued dialogue on biodiversity benefit sharing mechanism

    Source: International Chamber of Commerce

    Headline: ICC calls for continued dialogue on biodiversity benefit sharing mechanism

    ICC has issued the following statement upon the conclusion of the United Nations’ Conference of the Parties to the Convention on Biological Diversity (CBD COP16) underscoring the commitment of business to support future efforts to secure a robust and workable multilateral benefit sharing mechanism.

    ICC appreciates the efforts of Parties and the Colombian Presidency at CBD COP16 to progress on the operationalisation of the multilateral mechanism on benefit sharing from the use of digital sequence information, including the COP16 Decision’s recognition that further work is needed to refine several of its elements .  

    Businesses are committed to supporting biodiversity goals and engaged constructively in the discussion – viewing the multilateral mechanism as an opportunity to increase benefits shared for biodiversity through a simpler system that provides more legal certainty for companies and supports research and innovation.

    As several countries have recognised, the decision provides a starting basis for moving forward but many important aspects require further evidence-based work to ensure that the mechanism has the necessary enabling conditions and incentives to engage broad business participation. A system that is broad in scope makes it easy to contribute, sets fees at realistic levels, provides legal certainty for research and innovation, and has the potential to incentivise more funding for biodiversity. Business will strengthen its engagement as an integral part of the solution and will need to play a role in further refining the mechanism to ensure its success.”

    Further work could continue along several tracks, through formal CBD workstreams, informal dialogues, or a pilot phase to test the modalities in the decision and obtain evidence for consideration at COP17.  ICC will be working with companies, countries and other stakeholders along all these tracks to optimise the potential of the mechanism to attract broad participation from businesses to further biodiversity goals.      

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN delivers pre-recorded remarks at the Opening Ceremony of the World Internet of Things Convention (WIOTC)

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, yesterday delivered pre-recorded remarks at the Opening Ceremony of the World Internet of Things Convention (WIOTC), in Beijing, People’s Republic of China. In his remarks, Dr. Kao underscored that the rapid adoption of the Internet of Things (IoT), artificial intelligence (AI), and big data analytics will drive profound transformation across industries. He highlighted that these technologies will pave the way for new, innovative business models, helping to advance toward economic prosperity and sustainable development between ASEAN and China.

    The post Secretary-General of ASEAN delivers pre-recorded remarks at the Opening Ceremony of the World Internet of Things Convention (WIOTC) appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: ADB Provides $10 Million Grant to Address Gender-Based Violence in Cambodia

    Source: Asia Development Bank

    PHNOM PENH, CAMBODIA (4 November 2024) — The Asian Development Bank (ADB) approved $10 million in grant financing to address gender-based violence (GBV) in Cambodia to help meet the country’s target of zero GBV by 2030.

    The Strengthening Country Systems for Prevention and Response to GBV project is ADB’s first stand-alone Asian Development Fund (ADF) grant specifically focused on gender equality in Southeast Asia, and establishes a clear link between governance systems, public financial management, and the quality and accessibility of services addressing GBV.  

    The project will strengthen legal and institutional frameworks by updating Cambodia’s legislation on domestic violence; improve service delivery at the local level by strengthening the quality and accessibility of response services and refurbishing shelters for survivors, especially in rural areas; and leverage digital solutions in adolescent school-based and community-based programs to promote prevention. It will enhance digital solutions for 24/7 access to information, education, and communication resources on GBV in an effort to link prevention and response in a continuum for maximum impact.

    “This important project will enhance systemic responses, expand access to shelters, and ensure survivors receive the care they need,” said ADB Country Director for Cambodia Jyotsana Varma. “It will also promote community-based programs on prevention, empowering local communities to play a key role in raising awareness and stopping violence before it occurs. ADB remains committed to supporting Cambodia in building a safer, more inclusive society for all.”

    The incidence of GBV remains persistently high even as Cambodia has made significant strides in combating it with the government and civil society organizations piloting promising prevention approaches. Since 2014, the prevalence of intimate partner violence has decreased by 8 percentage points to 21% women (aged 15–49) experiencing it at least once in their lifetime, according to the World Health Organization. While better than the global and Southeast Asian average of 30%, Cambodia still faces hurdles due to uneven response hindered by multiple public agencies, and limited survivor-centered care. 

    Building on lessons from previous GBV projects in Asia, this initiative promotes a comprehensive, whole-of-government approach that integrates gender equality and GBV considerations across key ministries for Women’s Affairs, Interior, and Economy and Finance to ensure a coordinated response.

    This $10 million project is funded by a grant from the Asian Development Fund, which supports ADB’s vulnerable developing member countries.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI Economics: New Development Bank prices USD 1.25 billion Green Bond under EMTN Programme

    Source: New Development Bank

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OF AMERICA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

    On October 31, 2024, the New Development Bank (NDB) successfully priced a 3-Year USD 1.25 billion Green Bond, paying an annual coupon of 4.677 per cent (equivalent to SOFR MS + 80 bps), under its Euro Medium Term Note Programme, which will be issued on 7 November 2024, subject to final legal documentation and customary closing conditions.

    An amount equal to the net proceeds from the Bond issuance will be allocated to finance and/or refinance, in whole or in part, past or future disbursement of loans made to eligible green projects in accordance with NDB’s Sustainable Financing Policy Framework dated 25 May 2020 in such sectors as clean transportation, climate change adaptation, energy efficiency, low-carbon and renewable energy, sustainable water management, etc. NDB’s Sustainable Financing Policy Framework governs issuances of green, social and sustainability debt instruments, including the use and management of bond proceeds, project selection and evaluation process, reporting and disclosure.

    The USD 1.25 billion Green Bond received strong demand from investors, with the final order book exceeding USD 2.2 billion. Geographically, the issuance attracted a diverse investor base, with 66% of investors from Asia and 34% from the EMEA region. The composition of the final order book was as follows: Central Banks, Official Institutions, and Sovereign Wealth Funds – 52%; Banks – 43%; Asset Managers, Fund Managers, and others – 5%.

    Bank of China, Emirates NBD Capital, First Abu Dhabi Bank, ICBC, and Standard Chartered Bank (B&D) acted as Joint Lead Managers of the transaction. CITIC Securities served as a Co-Manager of the transaction.

    “The strong demand and good pricing conditions obtained underscore the confidence of investors in NDB’s financial stability and its mandate of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries,” said Mr. Monale Ratsoma, NDB Vice-President and Chief Financial Officer.

    “New Development Bank is committed to being a regular issuer in both hard currency and local currencies of its member countries. Our issuances are guided by market conditions, investor demand and the requirements of the Bank’s lending portfolio. NDB aims to build a liquid benchmark curve over time with issuances across different maturities, enhancing its capacity to finance infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries”.

    Background Information

    New Development Bank was established with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development. In 2021, NDB initiated membership expansion and admitted Bangladesh, Egypt, United Arab Emirates and Uruguay as its new member countries.

    In December 2019, NDB established its inaugural USD 50 billion Euro Medium Term Note Programme (EMTN Programme) in the international capital markets.

    IMPORTANT DISCLAIMER: This announcement does not constitute or form part of an offer to sell or the solicitation of an offer to sell or subscribe for or otherwise acquire any securities (including, without limitation, the green bonds mentioned above (the “Bonds“)).

    This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 or that Regulation as it forms part of United Kingdom law.

    The Bonds are not being, and will not be, offered or sold in the United States. Nothing in this announcement constitutes an offer to sell or the solicitation of an offer to buy the Bonds in the United States or any other jurisdiction. Securities may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The Bonds have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act of 1933, as amended).

    No action has been or will be taken in any jurisdiction in relation to the Bonds to permit a public offering of securities.

    This announcement is directed only at (i) persons who are outside the United Kingdom (the “UK“), or (ii) persons who are in the UK who are (a) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order“) or (b) otherwise, persons to whom this announcement may lawfully be communicated pursuant to the Order (all such persons together being referred to as “relevant persons“). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. This electronic transmission may only be communicated to persons in the UK in circumstances where section 21(1) of the Financial Services and Markets Act 2000 does not apply to the Issuer.

    Credit ratings should not be taken as recommendations by a rating agency to buy, sell or hold the Bonds. They may be revised, suspended or withdrawn at any time by the relevant rating agency.

    Prohibition on sales to EEA and UK retail investors: Target Market (MiFID II / UK MiFIR) is Eligible Counterparties and Professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as the Notes are not available to retail in EEA or the UK.

    Relevant stabilisation regulations including FCA/ICMA will apply.

    MIL OSI Economics –

  • MIL-OSI Economics: Money Market Operations as on October 31, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 525,447.20 6.28 5.00-6.75
         I. Call Money 5,197.80 6.54 5.75-6.65
         II. Triparty Repo 375,967.35 6.27 6.05-6.40
         III. Market Repo 143,559.05 6.30 5.00-6.45
         IV. Repo in Corporate Bond 723.00 6.50 6.45-6.75
    B. Term Segment      
         I. Notice Money** 0.00 – –
         II. Term Money@@ 0.00 – –
         III. Triparty Repo 340.00 6.23 6.20-6.45
         IV. Market Repo 2,466.21 6.55 6.55-6.55
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Thu, 31/10/2024 14 Thu, 14/11/2024 24,697.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Thu, 31/10/2024 1 Fri, 01/11/2024 1,073.00 6.75
      Thu, 31/10/2024 2 Sat, 02/11/2024 0.00 6.75
      Thu, 31/10/2024 3 Sun, 03/11/2024 0.00 6.75
      Thu, 31/10/2024 4 Mon, 04/11/2024 1,277.00 6.75
    4. SDFΔ# Thu, 31/10/2024 1 Fri, 01/11/2024 123,428.00 6.25
      Thu, 31/10/2024 2 Sat, 02/11/2024 12.00 6.25
      Thu, 31/10/2024 3 Sun, 03/11/2024 0.00 6.25
      Thu, 31/10/2024 4 Mon, 04/11/2024 18,815.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -164,602.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,469.91  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     11,009.91  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -153,592.09  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 31, 2024 1,043,977.71  
         (ii) Average daily cash reserve requirement for the fortnight ending November 01, 2024 1,016,726.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 31, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on October 18, 2024 402,348.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1415

    MIL OSI Economics –

  • MIL-OSI Economics: Digital health industry faces both opportunities and challenges, says GlobalData

    Source: GlobalData

    Digital health industry faces both opportunities and challenges, says GlobalData

    Posted in Medical Devices

    Digital health has been evolving rapidly in recent years, with many medical technology companies realizing that the benefits of connected patient care and remote patient monitoring are of great value to both patients and physicians. Digital health could allow patients greater access to their own health information and could offer physicians more information to make informed decisions for patient care and personalize treatment options for patients through remote monitoring. Despite these benefits, the space still struggles with concerns about patient privacy and reimbursement options, reports GlobalData, a leading data and analytics company.

    At the MedTech Conference 2024, held recently in Toronto, a major point of discussion was the potential of digital health offerings to improve the standard of care. Manufacturers and proponents of digital health products shared their thoughts on what digital health usage could provide, which includes measuring patient indicators, such as sleep or stress, to better inform primary care physicians of patient health or providing a live record of at-home drug or device usage to physicians without the need for office visits.

    However, conference panelists also stressed the hurdles facing digital health. A major problem for digital health is reimbursement, especially in the US. Currently, digital health does not fit into the US insurance system, as treatment is intended to occur within a hospital or doctor’s office.

    Additionally, programs such as Medicare often undervalue the costs of digital health treatments, despite these options providing great value to the patient. Another problem facing the digital health market is the initial cost of any digital health app, which patients expect to be inexpensive and in line with other, non-medical apps.

    David Beauchamp, Medical Analyst at GlobalData, comments: “Although digital health has incredible potential to modernize and improve patient care, it has evolved faster than the industry and reimbursement have been able to. As such, more widespread use of these devices is dependent on whether the industry is willing to incorporate the use of such devices into existing treatment plans, and if reimbursement policies are updated to include digital health.”

    The digital health market is a rapidly growing sector within medical devices. GlobalData databases are tracking 6,269 digital health products currently on the market worldwide, with an additional 4,612 products in various stages of development in various countries.

    Beauchamp concludes: “Despite the great number of digital health devices, both marketed and planned, digital health has yet to find widespread success in the medical device industry. All these products are facing or will face similar challenges as outlined by industry leaders at the conference. Hopefully, a more established framework for digital health reimbursement can be put in place so patients and physicians can take advantage of the benefits of these technologies.”

    MIL OSI Economics –

  • MIL-OSI Economics: Q&A: Exploring the Key Findings of the Georgia PPP Monitor

    Source: Asia Development Bank

    Article | 04 November 2024
    Read time: 5 mins

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    •  Georgia has a nascent but developing ecosystem for PPPs.
    •  ADB has been involved in developing the PPP program in Georgia for many years by facilitating the establishment of the PPP legal framework in the country.
    •  The government realized the importance of PPPs as an alternative way of financing infrastructure investments and has been developing a PPP institutional, policy, and legal and regulatory framework.

    The Asian Development Bank (ADB) recently launched the Georgia Public–Private Partnership (PPP) Monitor. Helen Steward, Principal Markets Development Advisory Specialist in ADB’s Office of Markets Development and Public–Private Partnerships (OMDP), explains what the PPP Monitor is all about.

    What are Public–Private Partnerships or PPPs?

    Public–private partnerships are contractual arrangements where a government partners with the private sector to build and manage public infrastructure, such as roads and highways, renewable energy plants, hospitals, and schools. PPPs may also be used by government to bring in private sector to manage existing public infrastructure more efficiently.

    Helen Steward, Principal Markets Development Advisory Specialist, Office of Markets Development and Public–Private Partnerships (OMDP), ADB

    What is the PPP Monitor?

    The PPP Monitor is a publication series of ADB. It profiles PPP-enabling environments in ADB’s developing member countries (DMCs) across Asia and the Pacific. The PPP Monitor features a data-driven, online version that allows users to compare the key PPP parameters and attributes across the featured DMCs.

    Who can use the PPP Monitor?

    The PPP Monitor provides the investor community with business intelligence on the enabling environment, policies, priority sectors, and deals to facilitate informed investment decisions. 
    For ADB DMCs the PPP Monitor serves as a diagnostic tool to identify gaps in their legal, regulatory, and institutional frameworks.

    ADB and other international development agencies can also benefit from the PPP Monitor as it could be useful in initiating dialogues to assess a country’s readiness to implement PPPs to develop and sustain its infrastructure.

    What are the key takeaways from the Georgia PPP Monitor?

    • Georgia has a nascent but developing ecosystem for PPPs.
    • ADB has been involved in developing the PPP program in Georgia for many years by facilitating the establishment of the PPP legal framework in the country.
    • The government realized the importance of PPPs as an alternative way of financing infrastructure investments and has been developing a PPP institutional, policy, and legal and regulatory framework.
    • In 2018, the Law of Georgia on Public–Private Partnerships, also known as the PPP Law, was adopted. This was followed by a package of bylaws related to the introduction and implementation of PPPs in Georgia.
    • The PPP Law and the secondary legislation provide the legal basis for procuring and managing PPPs in Georgia. It covers both concession and non-concession types of PPPs. It provides the definition and eligibility criteria for PPPs, the various stages for project development and management, and the relevant entities involved in PPP project identification, screening, preparation, procurement, and management, including their functions. It also establishes the process for dispute resolution and the identification and management of contingent liabilities.
    • The PPP Law and the secondary legislation also require the establishment of a formal PPP institutional structure including a PPP Agency, which has been set up under the Office of the Prime Minister of Georgia, and a related risk and fiscal management function under the Ministry of Finance. The PPP Agency became operational in 2019 and guidelines for identifying, appraising, procuring, implementing, and monitoring PPPs have been developed to support the PPP Law and the supporting secondary legislation.

    How many PPPs have been developed in Georgia?

    From 1990 to 2023, about 42 PPP projects from different sectors (e.g., airports, energy, information and communications technology, water and sewerage, and social infrastructure) successfully achieved financial closure. The total investment made in these projects is approximately $4 billion.

    According to the PPP Agency, since the adoption of the PPP Law in 2018, only a few new PPPs have been initiated and reached financial closure and these have all been in the energy sector.

    What challenges exist in the public private partnership landscape?

    Significant progress has been made in improving the PPP landscape, especially in establishing the regulatory framework and with recent PPP training programs instigated by the PPP Agency. However, there is so far only a limited pipeline of viable projects and significant challenges remain to be addressed, including low awareness of PPPs; limited capacity of government officials; lack of PPP initiatives at the local and national levels; and lack of a project development fund, among others.

    What is ADB doing to support PPPs in Georgia?

    Having supported the drafting of the PPP legislation, implementing guidelines, model concession agreements, and annual fiscal risk statements, ADB is poised to support PPP development further in Georgia. PPPs offer an avenue to improve value for money in infrastructure development and service delivery. However, the current capacity of the public sector to drive and implement PPPs is constrained. ADB has been working in partnership with the PPP Agency to address some of the challenges. ADB is helping raise awareness about PPPs through events. Earlier in October, ADB held a specialist training course on PPPs for senior government officials to help address the capacity gaps and contribute toward building a pipeline of projects. ADB is also undertaking a feasibility assessment on affordable housing to explore PPP opportunities and is also in early discussion with various government agencies to help screen and prepare potential pilot PPP projects. 

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    • Private sector development
    • Public-Private Partnerships

    MIL OSI Economics –

  • MIL-OSI Economics: Members spotlight development issues in trade and environmental sustainability discussions

    Source: WTO

    Headline: Members spotlight development issues in trade and environmental sustainability discussions

    “Here we are at the end of 2024 and MC14 isn’t that far away. We’re committed to having concrete outcomes and so as part of achieving that, this session will be important,” said Richard Tarasofsky of Canada, which co-convenes TESSD together with Costa Rica, in opening the meeting. He added that a high-level TESSD plenary stocktaking session will be held on 4 December to seek members’ support for the proposed way forward towards achieving concrete outcomes at MC14 that reflect both the technical discussions in working groups as well as the written outcomes of those groups.
    “We are really making an effort to dig deeper into the development dimension, including in how we select topics such as climate adaptation,” said Mr. Tarasofsky.
    The four TESSD working groups advanced substantive work in their respective discussions at the meeting.
    In the Working Group on Trade-related Climate Measures (TrCMs), members deliberated on the use of TrCMs for achieving climate change adaptation and focused on developing country perspectives. They heard presentations from the International Institute for Sustainable Development, the WTO Secretariat, the World Bank, Barbados and Samoa.
    In the Working Group on Environmental Goods and Services, members exchanged views on trade-related aspects of water management and climate change adaptation, considering presentations on water management technologies and developing country experiences from the UN Environment Programme (UNEP) Copenhagen Climate Centre and the UN Climate Technology Centre & Network (CTCN). Members also considered presentations on identification and trade promotion of environmental goods and services from Australia, Finland and the WTO Secretariat.
    In the Working Group on Subsidies, members considered presentations on critical minerals, including how international cooperation can support developing countries in addressing challenges and seizing opportunities in the sector. The International Energy Agency, the African Development Bank, Australia and the Philippines provided presentations.
    In the Working Group on Circular Economy-Circularity, members heard from the Global Batteries Alliance on batteries passports and on circularity of batteries. They also heard from Rwanda on implementing circular economy principles in the transport sector. Members also were briefed on new analytical work from the International Chamber of Commerce, Organisation for Economic Co-operation and Development, and the Forum on Trade, Environment and SDGs (TESS).
    Across the four working groups, members also discussed possible ways forward for outcomes at MC14, including a compilation and mapping of policy measures shared by members, practical ways to enhance cooperation, and expanding and refining the TESSD indicative list of environmental goods and services. They also considered developing guidelines for subsidy design and recommendations to enhance transparency, trade-related guidelines for a circular economy and trade‑related good practices for circularity in priority sectors.
    Presentations and documents related to the working group meetings are available here.
    At the close of the two-day meeting, Ana Lizano of Costa Rica, TESSD co-convenor, said: “We have heard support as well as constructive feedback from the participants to the suggestions on the way forward presented by the facilitators of the four groups. So the co-conveners, together with the facilitators, will put together the most balanced outlook possible for 2025 and towards the next Ministerial Conference.”
    “We will continue working on bringing to the table more voices from the developing and least-developed members to consolidate an agenda that is not only balanced but also representative of the needs, opportunities, and interests of all TESSD participants,” she said.
    Guided by their 2021 Ministerial Statement, TESSD seeks to complement the work of the WTO Committee on Trade and Environment and advance discussions at the intersection of trade and environmental sustainability towards identifying concrete actions that members could take individually or collectively. The initiative, which is open to all WTO members, is currently co-sponsored by 77 members representing all regions and all levels of development.

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  • MIL-OSI Economics: European Council President: For multilateralism to work we need trust, trade and to transform

    Source: World Trade Organization

    WTO ambassadors, Swiss authorities, heads of intergovernmental organizations, representatives of non-governmental organizations, business and academia participated in the event, which was opened by Director-General Ngozi Okonjo-Iweala.

    In his introduction, Mr Michel told a large audience that today the world “is on a knife edge”, with war and conflict piercing the heart of the multilateral system and global confidence. Current conflicts are creating a devastating cocktail of humanitarian catastrophes, destabilisation and insecurity, driving the world away from the rule of law toward the law of force, he noted.

    Every week, the world sees the devastating effects of climate change across regions, he said. It also has to live through the “mind-blowing revolution” of artificial intelligence (AI), with its vast potential but also with its risks for human rights, democracy and the global trading system. Against this backdrop, he stressed that “no country alone can face all these challenges,” making cooperation and multilateralism more necessary than ever.

    Mr Michel said that the success of the European Union is an example of how cooperation and integration help to build bridges, allowing member states to cooperate and reach compromise on difficult issues. That translates into reducing overdependence and building mutually beneficial partnerships. “We want to build bridges, not barriers. And that requires more trust. More dialogue between nations. And less polarisation that drives nations apart,” he said.

    Highlighting the need to build mutually beneficial partnerships, the President of the European Council called for a multipolar world where each country, or group of countries, can set its own path, with respect for the common rules. “It shouldn’t be about choosing one side over another. We need to listen, cooperate, and forge common decisions based on smart compromise. And we have to develop our collective intelligence for solving collective problems,” he noted.

    In order to make multilateralism work, he said: “We need to build more trust. People must believe in each other when they make agreements and work together. And building trust requires respect for international law, crucial when nations cooperate together. We also need trade because it generates prosperity and helps us achieve our common goals. And we must transform global multilateral institutions, so they are strong and fit for the 21st century.”

    Mr Michel commended the “tireless efforts and relentless determination” of DG Okonjo-Iweala to bring trust back to the heart of the WTO. He underlined that for the European Union, strengthening the WTO is a strategic priority. “A strong, well-functioning WTO is essential to fair and predictable global trade, based on common rules. We must pursue the necessary reforms to make the WTO a powerful force,” he said.

    This includes overhauling the WTO’s dispute settlement mechanism to include a reliable appeal process, he said, as agreed by members at the 12th Ministerial Conference (MC12) in June 2022, while preserving the core principles established in 1995. Looking forward, he also cited the need to address issues such as subsidies and state support and stated that WTO reform must ensure inclusivity, enabling both developed and developing nations to participate equitably.

    DG Okonjo-Iweala expressed her appreciation for the very timely insights of President Michel in the current challenging context. “He understands, as we do, that trade is not a means in itself, or even solely an engine of greater productivity and growth, but that trade is a force for social inclusion, economic development, environmental sustainability – and yes – peace.”

    DG Okonjo-Iweala said that President Michel is not just a committed multilateralist but someone who is committed to ensuring that multilateralism delivers results for people by using trade as a tool to integrate people and places left out of the gains of recent decades. “Our collective efforts to reform and update the WTO are part of making trade work for everyone,” she added.

    Following the lecture, Mr Michel took part in a conversation with DG Okonjo-Iweala on the future of international trade at a time of economic, political and environmental uncertainty, moderated by Professor Muhammadou Kah, Ambassador of the Gambia to the WTO.

    A recording of the event can be viewed here.

    About the WTO’s Presidential Lecture Series

    The WTO’s Presidential Lecture Series provides a platform for distinguished speakers from around the world to deliver lectures on various aspects of multilateral cooperation and global governance. Several events are held each year.

    More information on the lecture series is available here.

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  • MIL-OSI Economics: Transparency and subsidy notification compliance spotlighted at committee meeting

    Source: WTO

    Headline: Transparency and subsidy notification compliance spotlighted at committee meeting

    The Chair noted that despite calls for members to notify their subsidies, compliance with the subsidy notification obligation under the WTO’s SCM Agreement remains concerningly low, affecting the Agreement’s proper functioning. 
    He highlighted that 84 members have not made their 2023 notifications, which were due by 30 June 2023, while 82 members have yet to make their 2021 notifications, which were due more than three years ago. He also noted that 71 members still have not submitted their 2019 notifications, now overdue by more than five years. Many of these members have either never notified or have done so only in the distant past, he said.
    The Chair emphasized that all members benefit from the collective effort of timely and complete notifications. “Ultimately, all members, in addition to being required to notify, have an interest in the notified information of other members,” he stated. He called on non-compliant members to fulfil their obligations, noting that transparency is fundamental to the SCM Agreement’s proper functioning.
    Highlighting efforts to improve compliance, the Chair drew attention to the WTO Secretariat’s technical assistance project on subsidy notifications. The first round of the project, completed in 2023, invited 43 members to take part, with 23 agreeing to participate. Of these, 11 members subsequently submitted their 2023 subsidy notifications in a timely fashion, accounting for 13% of all notifications received for that cycle. The Chair praised these tangible outcomes as evidence of the effectiveness of well-structured, customized assistance projects. He also informed members that a 2024-2025 round of the same technical assistance project will be launched towards the end of this year. He encouraged active engagement of the participating members.
    Several delegations took the floor to echo the Chair’s concerns, stressing the importance of timely and complete subsidy notifications for the SCM Agreement’s effective functioning. They also expressed appreciation for the Secretariat’s ongoing support and technical assistance efforts.
    Training session on subsidy notifications
    In response to a suggestion to organize a training session on the obligation to make subsidy notifications, the Chair acknowledged the potential benefits of such an initiative. He noted that holding a training session would be particularly useful given that a new notification cycle will begin in 2025. Recognizing the timeliness of such a session, he proposed that the Secretariat arrange this training early next year. The Secretariat will communicate the exact date and venue of the session in due course.
    Review of members’ subsidy notifications
    The Committee reviewed the 2023 new and full subsidy notifications submitted by Australia, Cabo Verde, Cambodia, the European Union (pertaining to Croatia, Luxembourg, and Slovenia), Democratic Republic of the Congo, Dominican Republic, El Salvador, Honduras, Iceland, Nepal, and Uruguay.
    The Committee also continued its review of 2023 subsidy notifications from Brazil, Canada, China, Eswatini, the European Union, Japan, Kenya, the Republic of Korea, Malaysia, Mauritius, Montenegro, Norway, Türkiye, the United Kingdom, the United States, and Vanuatu. It also continued its review of a 2019 notification from the Russian Federation.
    National legislation
    The Committee reviewed new notifications of countervailing duty legislation submitted by Brazil, Cabo Verde, Solomon Islands, and the United States. It also continued its review of the legislative notifications of Saint Kitts and Nevis, the European Union, and Ghana.
    Semi-annual reports of members on countervailing duty actions
    The Committee considered the semi-annual reports of countervailing duty actions submitted by Australia, Brazil, Canada, the European Union, India, Mexico, the United Kingdom, and the United States.
    In addition to the semi-annual reports, the SCM Agreement requires members to submit without delay notifications of all preliminary and final countervailing duty actions taken. Reports received from Australia, Brazil, Canada, the European Union, India, Mexico, Chinese Taipei, the United Kingdom, and the United States were reviewed by the Committee.
    Other matters
    The Chair recalled the 31 December 2015 deadline for the elimination of export subsidies by members that received “fast track” extensions under Article 27.4 of the SCM Agreement. He noted that only 15 of the 19 members that had received extensions have provided the final required notifications. He called on the remaining members to comply without delay.
    The Committee discussed a separate item China placed on the agenda regarding discriminatory subsidies policies and measures of the United States.
    The Committee discussed a separate item the Republic of Korea placed on the agenda regarding France’s electric vehicle subsidies programme.
    The Committee also discussed a separate item Australia, Canada, the European Union, Japan, the United Kingdom, and the United States placed on the agenda regarding subsidies and capacity.
    In addition, the Committee discussed a separate item the United States placed on the agenda regarding Kazakhstan’s proposed preferences for domestically produced agricultural machinery.
    The Committee discussed a separate item the United States placed on the agenda regarding the WTO Secretariat’s activities on subsidies. The United States highlighted certain Secretariat-initiated activities relating to subsidies, calling for greater transparency and consultation between the Secretariat and the membership.  Australia, the European Union, India, and the United Kingdom commented on the issues raised by the US, including by expressing support for the call for greater transparency.
    The Secretariat informed the Committee that it has been working on a transparency portal that will allow members to access information about Secretariat-initiated activities and explained that it expected this portal would be rolled-out towards the end of November.
    Under other business, the United States provided an update on proposed guidelines for submission of questions and answers under Articles 25.8 and 25.9 of the SCM Agreement, previously submitted by Australia, Canada, the European Union, Japan, the United Kingdom, and the United States, and discussed at the Committee’s regular meeting in April 2024.
    The Committee also adopted its 2024 annual report to the CTG.
    Next meeting
    The spring and autumn 2025 meetings of the SCM Committee are scheduled to take place in the weeks of 28 April and 27 October 2025, respectively.
    More information about the SCM Agreement and the WTO’s work on subsidies and countervailing measures can be found here.

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  • MIL-OSI Economics: Secretary-General of ASEAN delivers keynote remarks at the Jakarta Forum on ASEAN-China Relations

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this morning delivered a keynote speech at the Jakarta Forum on ASEAN-China Relations with the theme “Bridging and Bonding by Connectivity,” aligning with Lao PDR’s ASEAN Chairmanship theme of “ASEAN: Enhancing Connectivity and Resilience,” and in support of 2024 as the ASEAN-China Year of People-People Exchanges.

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  • MIL-OSI Economics: BaFin warns consumers about the website ifsinvesting.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the website ifsinvesting.com. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.

    The operators of the website refer to themselves only as IFSinvesting without stating the company’s legal form. A business address in London, United Kingdom, is provided.

    BaFin has recently become aware of a number of websites with almost identical content and has also warned consumers about them. On all of the websites, the following sentence is displayed at the top of the homepage: “Step Into the Trading Arena with Confidence & [name of website]“.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    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.

    MIL OSI Economics –

  • MIL-OSI Economics: Investigation Results on Quality Irregularities by the External Investigation Committee and Endeavors Taken at PID

    Source: Panasonic

    Headline: Investigation Results on Quality Irregularities by the External Investigation Committee and Endeavors Taken at PID

    The content in this website is accurate at the time of publication but may be subject to change without notice.Please note therefore that these documents may not always contain the most up-to-date information.Please note that German, French and Chinese versions are machine translations, so the quality and accuracy may vary.

    MIL OSI Economics –

  • MIL-OSI Economics: northunion.io: BaFin warns consumers about website

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The website operator is simply referred to as “NorthUnion”, and there is no information regarding its legal form. They give business addresses in Zurich, Switzerland, London, United Kingdom, Graz, Austria, and Madrid, Spain.

    BaFin has recently become aware of a number of websites with almost identical content and has also warned consumers about them. In each case, the website’s homepage displays the phrase: “Step Up Your Trading with [name of operator]“.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    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.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN presides over the oath-taking ceremony of the new Deputy Secretary-General of ASEAN for ASEAN Socio-Cultural Community

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today presided over the oath-taking ceremony of H.E. San Lwin as Deputy Secretary-General of ASEAN for ASEAN Socio-Cultural Community for the term 2024-2027, at the ASEAN Headquarters/ASEAN Secretariat. The oath-taking ceremony was followed by an introductory meeting to briefly discuss ongoing initiatives and priorities as well as other important follow-up under the ASEAN Socio-Cultural Community pillar.

    The post Secretary-General of ASEAN presides over the oath-taking ceremony of the new Deputy Secretary-General of ASEAN for ASEAN Socio-Cultural Community appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with the Permanent Representative of Myanmar to ASEAN

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today had a meeting with the Permanent Representative of Myanmar to ASEAN, H.E. Amb. Aung Myo Myint, at the ASEAN Headquarters/ASEAN Secretariat. They discussed, among others, follow-up to the recently-concluded 44th and 45th ASEAN Summits and Related Summits held in Vientiane, Lao PDR, particularly pertaining to the ASEAN Community building efforts.

    The post Secretary-General of ASEAN meets with the Permanent Representative of Myanmar to ASEAN appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with U

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Dr. Rumman Chowdhury, U.S. Science Envoy, at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, Dr. Kao and Dr. Chowdhury exchanged insights on the global development of cutting-edge technologies, including Artificial Intelligence (AI), the Internet of Things (IoT), and Big Data, as well as their potentials to enhance regional cooperation in science, technology, and innovation. They also discussed effective strategies for implementing the ASEAN-United States Leaders’ Statement on Promoting Safe, Secure, and Trustworthy AI, recently adopted at the 12th ASEAN-U.S. Summit in Vientiane, Lao PDR.

    The post Secretary-General of ASEAN meets with U.S. Science Envoy appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Airbus inaugurates India and South Asia headquarters in New Delhi

    Source: Airbus

    Headline: Airbus inaugurates India and South Asia headquarters in New Delhi

    Airbus has inaugurated its new India and South Asia Headquarters located at Delhi’s Indira Gandhi International Airport. The state-of-art facility was inaugurated by Shri Kinjarapu Rammohan Naidu, Honourable Minister of Civil Aviation, Government of India, in the presence of Michael Schoellhorn, CEO of Airbus Defence and Space, and Rémi Maillard, President and Managing Director of Airbus in India and South Asia.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with U.S. Science Envoy

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Dr. Rumman Chowdhury, U.S. Science Envoy, at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, Dr. Kao and Dr. Chowdhury exchanged insights on the global development of cutting-edge technologies, including Artificial Intelligence (AI), the Internet of Things (IoT), and Big Data, as well as their potentials to enhance regional cooperation in science, technology, and innovation. They also discussed effective strategies for implementing the ASEAN-United States Leaders’ Statement on Promoting Safe, Secure, and Trustworthy AI, recently adopted at the 12th ASEAN-U.S. Summit in Vientiane, Lao PDR.

    The post Secretary-General of ASEAN meets with U.S. Science Envoy appeared first on ASEAN Main Portal.

    MIL OSI Economics –