Notice is hereby given that SOA Investments Limited, which was registered under the Designated Businesses (Registration & Oversight) Act 2015, has been de-registered in accordance with 12(1)(a) of this Act with effect from 10/10/2024.
Simon Black, Ian W.H. Parry, and Karlygash Zhunussova. “Sleepwalking to the Cliff Edge?: A Wake-up Call for Global Climate Action”, Staff Climate Notes 2024, 006 (2024), accessed October 10, 2024, https://doi.org/10.5089/9798400289644.066
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Summary
Urgent action to cut greenhouse gas (GHG) emissions is needed now. Early next year, all countries will set new emissions targets for 2035 while revising their 2030 targets. Global GHGs must be cut by 25 and 50 percent below 2019 levels by 2030 to limit global warming to 2°C and 1.5°C respectively. But current targets would only cut emissions by 12 percent, meaning global ambition needs to be doubled to quadrupled. Further delay will lead to an ‘emissions cliff edge’, implying implausible cuts in GHGs and putting put 1.5°C beyond reach. This Note provides IMF staff’s annual assessment of global climate mitigation policy. It illustrates options for equitably aligning country targets with the Paris Agreement’s temperature goals. It also provides guidance on modelling needed to set emissions targets and quantify climate mitigation policy impacts.
Headline: Bolstering local journalism to strengthen democracy
A free press is essential to healthy democracy, and local journalism is a critical component of a free press. Microsoft’sDemocracy Forward initiativeworks to preserve, protect, and advance the fundamentals of democracy by safeguarding open and secure democratic processes, promoting a healthy information ecosystem, and advocating for corporate civic responsibility.
Four years ago, we launched ajournalisminitiativeto explore ways in which we could help address the growing crisis facing independent local news organizations around the world. Two years ago, our Vice Chair and PresidentBrad SmithandUSAIDAdministratorSamantha Powerannounced our plan to partner with Internews to build a Media Viability Accelerator (MVA). We were thrilled to officially launch this tool during a panel event at the UN General Assembly last month.
Bolstering Independent Journalism through the Media Viability Accelerator
TheMedia Viability Acceleratoris a free web analytics platform built byInternewsandMicrosoft Azure. Funded by USAID andMicrosoft’s Democracy Forward initiative, the MVA aims to strengthen independent journalism by helping participating organizations achieve financial sustainability. Using Azure AI, the MVA harnesses the power of big data and machine learning to provide performance insights while ensuring that participants retain control over their own data. Through the MVA, media outlets can access a multilingual tool that visualizes performance data and receive actionable insights to improve performance.
Graphic of how the Media Viability Accelerator (MVA) functions.
More than 250 media outlets and over 500 journalists used the platform during the MVA’s initial pilot phase. Our goal is to empower over 1,000 more media outlets and thousands more journalists over the next two years, reaching audiences of hundreds of millions of people. Strengthening local journalism helps strengthen democracies around the world by ensuring that communities and voters have accurate, credible information about what’s happening around them, including and especially elections.
Strengthening journalism globally can also help turn the tide on rising authoritarianism. One of the guests on the panel we cohosted to launch the MVA was Juan Holmann, the publisher of Nicaragua’s longest-running newspaper, La Prensa. Holmann, who spent a year and a half in one of Nicaragua’s most notorious prisons, latersaidof his experience:
“I left jail with a stronger conviction that I have to continue fighting for freedom of expression. The most important right is the right to live, to be born, and to be. And the second most important is the right to free expression. The first right is useless if the second is taken away from us. Freedom of expression is the greatest because it is what makes us what we are. Freedom of expression is the right to be educated, the right to learn, to know, and to discern.”
We’re grateful to have La Prensa as a participant in the MVA, and we’re grateful for the tremendous work Internews has put into building and running this platform. We look forward to supporting its continued growth in the years to come.
Strengthening Democracy through Partnerships with News Organizations
As part of our efforts to strengthen democracy around the world, we have announced projects with a number of organizations designed to help journalists and newsrooms deploy AI responsibly in newsgathering, as well as bolster business practices to help build sustainable newsrooms. These ongoing partnerships include:
The Institute for Nonprofit Newsis leveraging AI to curate stories from the Rural News Network andconnect rural residentswith the stories most relevant to them via SMS messaging. Up to 30 newsrooms are also receiving stipends to produce and distribute voter information guides.
The Craig Newmark Graduate School of Journalismat CUNY brought 25 experienced journalists to a tuition-free program to explore ways to incorporate generative AI into their work and newsrooms in a three-month hybrid and highly interactive program. TheAI Journalism Labhas added two new upcoming cohorts, one focused on adoption and another focused on leadership.
The Online News Associationlaunched programming to support journalists and newsroom leaders as they navigated the evolving AI ecosystem. ONA’sAI in Journalism Initiativeoffered a menu of opportunities addressing what is possible across the newsroom through AI and offered workshops to experiment with tools and learn about best practices. More than 2,000 journalists have been reached through in-person and virtual programming this year.
The GroundTruth Project,which sends local journalists into newsrooms around the world through its Report for America and Report for the World programs, added an AI track of work for its corps members through the AI in Local News initiative to explore tool adoption. The project helped local newsrooms work together to explore use cases for AI in newsgathering.
Semaforharnessed AI tools to assist journalists in their research and source discovery withSemaforSignals, which helped journalists provide a diverse array of credible local, national, and global sources to their audience. They also created an elections display to show connections between different countries in a massive global election year.
As the media landscape continues to evolve in response to new technology, we are doubling down on our efforts to provide journalists with the tools they need to deliver timely, accurate information to their communities. In doing so, we can help ensure that the “fourth pillar” of democracy remains robust and resilient.
We expect to have updated impact data on the above partnerships soon and will update this post once this information is available. News outlets or other organizations interested in joining the Media Viability Accelerator can visithttp://www.mva.netto learn more.
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.
The authorities have consented to the publication of this statement. 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 Executive Board for discussion and decision.
Washington, DC:Kuwait has a window of opportunity to implement needed fiscal and structural reforms to boost private sector-led inclusive growth and diversify its economy away from oil:
Gradual fiscal consolidation of about 12 percent of GDP is needed to reinforce intergenerational equity.
Structural reforms should focus on improving the business environment, attracting FDI, and unifying the labor market.
These reforms should be underpinned by continued prudent monetary and financial sector policies.
Economic statistics should be strengthened to support well-informed policymaking.
Recent Developments, Outlook, and Risks
Kuwait has a window of opportunity to implement needed fiscal and structural reforms. Political turmoil has gripped Kuwait in recent years, stalling reforms. The political gridlock was broken in May 2024, when H.H. the Amir Sheikh Meshaal al‑Ahmad al‑Jaber al‑Sabah dissolved the Parliament and suspended parts of the Constitution for up to 4 years, allowing reforms to be expedited.
The economic recovery was disrupted in 2023, and inflation is moderating. Real GDP contracted by 3.6 percent in 2023. This economic downturn was concentrated in the oil sector, which contracted by 4.3 percent in 2023 due to an OPEC+ oil production cut. In addition, the non-oil sector is estimated to have contracted by 1.0 percent in 2023, primarily reflecting lower manufacturing activity in oil refining. Headline CPI inflation declined to 3.6 percent in 2023 reflecting lower core and food inflation. More recently, headline inflation moderated further to 2.9 percent (y-o-y) in August 2024, given lower housing and transport inflation.
The external position remained strong in 2023. The current account surplus moderated to 31.4 percent of GDP in 2023, with a 10.3 percent of GDP reduction in the trade surplus from lower oil prices and production largely offset by a 7.4 percent of GDP increase in the income surplus. Official reserve assets amounted to a comfortable 9.0 months of projected imports at end-2023. However, the external position was substantially weaker than the level implied by fundamentals and desirable policies in 2023, partly reflecting inadequate public saving of oil revenue.
The fiscal balance weakened in FY2023/24. The fiscal balance of the budgetary central government swung from a surplus of 11.7 percent of GDP in FY2022/23 to a deficit of 3.1 percent of GDP in FY2023/24. This mainly reflected a 5.8 percent of GDP reduction in oil revenue given lower oil prices and production, and a 9.7 percent of GDP increase in current spending, of which 5.7 percent of GDP went to the public sector wage bill while 3.4 percent of GDP went to subsidies. Nonetheless, the fiscal balance of the general government (which includes the income from SWF investments) was an estimated 26.0 percent of GDP in FY2023/24.
Financial stability has been maintained. Banks have sustained strong capital and liquidity buffers to satisfy the CBK’s prudent regulatory requirements, while NPLs remain low given judicious lending practices and are well provisioned for.
Under the baseline assuming current policies, the economy is projected to remain in recession in 2024, then to recover over the medium term:
Real GDP will contract by a further 3.2 percent in 2024 due to an additional OPEC+ oil production cut, then will expand by 2.8 percent in 2025 as the cuts get unwound, and will grow broadly in line with potential thereafter.
The incipient recovery of the non-oil sector will continue in 2024, with non-oil GDP expanding by 1.3 percent despite fiscal consolidation, after which it will gradually converge to its potential of 2.5 percent.
Headline CPI inflation will continue to moderate to 3.0 percent in 2024 as excess demand pressure dissipates and imported food prices fall, then will gradually converge to 2.0 percent as the non-oil output gap closes.
The current account surplus will moderate further to 28.4 percent of GDP in 2024 as lower oil prices and production reduce the trade surplus, then will gradually decline over the medium term alongside oil prices.
The fiscal deficit of the budgetary central government will increase to 5.1 percent of GDP in FY2024/25 as lower oil revenue more than offsets expenditure rationalization, then will steadily rise by about 1 percent of GDP per year over the medium term under current policies.
The risks surrounding these baseline economic projections are skewed to the downside. The economy is highly exposed to a variety of global risks through its oil dependence, in particular to commodity price volatility, a global growth slowdown or acceleration, and the further intensification of regional conflicts. The materialization of these risks would be transmitted to Kuwait mainly via their impacts on oil prices and production. Domestic risks are primarily associated with the implementation of fiscal and structural reforms, which could get further delayed or accelerated. These reforms are needed to diversify the economy away from oil, which would enhance its resilience and stimulate private investment.
Economic Reforms—Transitioning to a Dynamic and Diversified Economy
The authorities aspire to implement reforms to support the transition to a dynamic and diversified economy. To achieve this goal, a well-sequenced package of fiscal and structural reforms is needed. Structural reforms to improve the business environment and attract foreign investment are needed to boost private sector-led inclusive growth. Meanwhile, fiscal reforms should be implemented to reinforce intergenerational equity while incentivizing Kuwaitis to pursue newly created job opportunities in the private sector, in particular gradual fiscal consolidation.
The contractionary stance of fiscal policy is appropriate. Fiscal policy was strongly procyclical in FY2023/24, with a fiscal expansion of 6.9 percent of non-oil GDP contributing to excess demand pressure. Under the FY2024/25 Budget, the non-oil fiscal balance of the budgetary central government should increase by 4.7 percent of non-oil GDP relative to FY2023/24. This large fiscal consolidation will help close the non-oil output gap while reinforcing intergenerational equity. It is mainly driven by current expenditure rationalization, concentrated in planned subsidy cuts worth 4.3 percent of non-oil GDP.
Substantial further fiscal consolidation is needed to ensure intergenerational equity. Under the baseline, the projected fiscal balance of the general government is far below the level needed to maintain the living standards of Kuwaitis for generations to come. A prudent approach calls for gradual fiscal consolidation of about 12 percent of GDP to reinforce intergenerational equity, alongside structural reforms to diversify the economy away from oil. These reforms would also reinforce external sustainability.
Expenditure and tax policy reforms would be needed to support the transition to a dynamic and diversified economy:
Fiscal consolidation should be implemented at a pace of 1 to 2 percent of GDP per year until the PIH fiscal balance target is achieved. This would offset or reverse the projected roughly 1 percent of GDP per year increase in the fiscal deficit of the budgetary central government over the medium term, without reducing growth much.
Compensation of government employees surged over the past decade, to the top of the GCC. A public sector wage setting mechanism should be introduced to gradually reduce the 41 percent premium over the private sector, while a hiring cap should be used to steadily lower the public sector employment share, both towards high-income country levels.
Hydrocarbon consumption subsidies are the highest in the GCC. They should be phased out by gradually raising retail fuel and electricity prices to their cost-recovery levels while providing targeted transfers to vulnerable groups.
On-budget public investment plummeted over the past decade, to near the bottom of the GCC. It should be raised to build up the quantity and quality of infrastructure towards high-income country levels.
The hydrocarbon share of government revenue remains the highest in the GCC. In the context of the global minimum corporate tax agreement, the government’s plan to extend the CIT to all large domestic companies is welcome. To boost non-oil revenue mobilization, Kuwait should introduce the GCC-wide VAT and excise tax.
The conduct of fiscal policy should be strengthened with Public Financial Management reforms. To align budget planning and execution with fiscal policy objectives, the Ministry of Finance should introduce a medium-term fiscal framework—including a fiscal rules framework with a public debt ceiling and non-oil fiscal balance target—underpinned by a medium-term macroeconomic framework. To inform fiscal policymaking and assess reform proposals, the capacity of the Macro-Fiscal Unit should be strengthened. To facilitate orderly fiscal financing, the Liquidity and Financing Law should be enacted expeditiously.
Monetary and Financial Sector Policies—Maintaining Macrofinancial Stability
The exchange rate peg to an undisclosed basket of currencies remains an appropriate nominal anchor for monetary policy. It has supported low and stable inflation for many years. Sustaining this successful monetary policy track record requires preserving the independence of the CBK. The monetary transmission mechanism should be strengthened by deepening the interbank and domestic sovereign debt markets, establishing an efficient capital market, and phasing out interest rate caps.
The restrictive stance of monetary policy is appropriate. The exchange rate regime gives the CBK relative flexibility to conduct monetary policy. The policy rate is currently in line with controlling inflation and stabilizing non-oil output while supporting the exchange rate peg, and is above neutral. Under the baseline, monetary normalization is warranted, as inflation further moderates and the non-oil output gap closes.
Systemic risk remains contained and prudently managed. The credit cycle downturn triggered by the pandemic has been gradually unwinding, with the credit gap estimated to be nearly closed. Under the CBK’s latest stress tests, the capitalization and liquidity of the banking system generally exceeded Basel III minimum requirements, while individual bank shortcomings were limited. The stance of macroprudential policy is appropriate given contained systemic risk and subdued credit growth. Given that capital requirements exceed Basel III minimum requirements, the CBK could consider reclassifying part of its country specific capital buffer as a positive neutral countercyclical capital buffer. It should also continue its practice of regularly reviewing the adequacy of its financial regulatory perimeter and macroprudential toolkit. Finally, the CBK should continue its risk-based supervisory approach to assessing banks and effectively addressing any vulnerabilities.
Structural financial sector reforms are needed to enhance financial intermediation efficiency. The unlimited guarantee on bank deposits should be gradually replaced with a limited deposit insurance framework to address moral hazard, while the interest rate caps on loans should be phased out to support efficient risk pricing.
A comprehensive and well-sequenced structural reform package is needed to increase non-oil potential growth. The initial priorities are to improve the business environment by enhancing transparency, raising efficiency, and further opening up the economy. Meanwhile, labor market reforms should be gradually phased in to incentivize private sector-led inclusive growth.
The business environment should be further improved to raise economic competitiveness and promote private investment. To boost transparency, data disclosure on secondary market real estate transactions should be enhanced, while universal auditing standards for corporate balance sheets should be adopted. To raise efficiency, the government should improve public infrastructure, conduct regulatory impact assessments with public consultations, integrate digital public service delivery across ministries, and further streamline business establishment processes. To attract FDI, full foreign ownership of businesses should be permitted, while foreign ownership restrictions on land should be relaxed. Finally, public land sales for residential and commercial development should be scaled up.
Major labor market reforms are needed to promote economic diversification. To incentivize Kuwaitis to seek employment in the private sector, compensation and working conditions should be better harmonized across the public and private sectors. Enhancing the quality of education and aligning it with private sector needs would raise productivity and support economic diversification. Employment of highly-skilled expatriate workers should be supported by introducing targeted visa programs and reforming job sponsorship frameworks, promoting knowledge transfer. Higher female labor force participation should be encouraged by further improving the working environment for women, including by fully implementing the legal requirements for childcare in the private sector.
Reforms are needed to strengthen AML/CFT effectiveness. The AML/CFT framework should be strengthened expeditiously following a risk-based approach to protect its effectiveness.
Progress with climate change adaptation and mitigation should be accelerated. The government has made progress with implementing the 2019 National Adaptation Plan, but is delayed in developing its mitigation plan.
Data provision has some shortcomings that somewhat hamper surveillance, which the authorities should address within their legal constraints. An expenditure-side National Accounts decomposition remains unavailable for 2023, while multi-year delays in the publication of GDP data after the pandemic confounded surveillance and policymaking. The CSB urgently needs additional funding to boost its capacity and resume its annual Establishment Survey, which has not been conducted since 2019. The exclusion of government investment income and SOE profit transfers from the Government Finance statistics hampers fiscal policy analysis, while the omission of government foreign assets from the IIP statistics generates stock-flow inconsistencies with the BOP statistics.
The mission thanks the authorities for their warm hospitality and constructive engagement.
The ASEAN Foreign Ministers and the Secretary-General of ASEAN, Dr. Kao Kim Hourn, today witnessed the signing of the Instrument of Accession to the Treaty of Amity and Cooperation in Southeast Asia (TAC) by Deputy Prime Minister, Minister for Foreign Affairs and Foreign Trade, Minister for Development Cooperation and Humanitarian Affairs of the Grand Duchy of Luxembourg, H.E. Xavier Bettel, on the sidelines of the 44th and 45th ASEAN Summits and Related Summits in Vientiane, Lao PDR.
The accession by Luxembourg brings the number of High Contracting Parties (HCPs) to the TAC to 55. The growing number of HCPs reflects the importance and relevance of the TAC in the current regional and global context.
The post Luxembourg signs Treaty of Amity and Cooperation in Southeast Asia appeared first on ASEAN Main Portal.
Washington, DC: The World Bank Group (WBG) and the International Monetary Fund (IMF) are pleased to announce that Tanzania is the second country benefiting from the Enhanced Cooperation Framework for Climate Action (the Framework). This follows the approval of an arrangement under the Resilience and Sustainability Facility (RSF) in June 2024 by the IMF Executive Board, and the WBG’s active engagement on climate action in the country.
Tanzania is highly vulnerable to climate change which poses significant risks to its macroeconomic, fiscal, and social development. Through the Framework, the IMF and WBG working closely with other development partners, will coordinate their efforts to support Tanzania’s ambitious policy reform agenda to address risks and challenges associated with climate change and enhance the resilience of the Tanzanian economy.
The Framework aims to support efforts by Tanzania’s authorities to bring together development partners, the private sector and civil society to address the adverse impacts of climate change. Building on their respective analytical expertise and financing instruments, the IMF and WBG will jointly provide critical support to Tanzania’s authorities in advancing climate action. This will be done through an integrated, country-led approach to policy reforms and public and private climate investments, including through complementary and well-sequenced reform measures.
Tanzania is the second country to benefit from this Framework, which builds on technical analysis such as the IMF’s Climate Policy Diagnostics (CPD). The country authorities, the WBG and the IMF identified several areas where synergies in capacity development and policy support will be most beneficial, such as (i) climate resilient public financial management, (ii) energy, water and other reforms that will build resilience and promote sustainable development, (iii) disaster risk management and social protection, and (iv) supervision of financial sector climate-related risks.
Under the Framework, the IMF-WBG will support Tanzania to consider climate change as a key element of medium-term public investment planning and prioritization. The IMF will back the introduction of climate resilient public investment regulations and reporting, while the WBG will focus on supporting sectors that help strengthen Tanzania’s resilience to climate change, such as energy, water, social protection, and agriculture. The two institutions will also support improvements to Tanzania’s disaster risk management policy and implementation, including a disaster risk financing framework and enhancements to the social safety net to make it responsive to climate shocks.
The WBG and the IMF will also support policies to improve water resource management, while IMF-supported reforms will help expand villages’ land use planning and management. Tanzania will also develop supervision of financial sector climate-related risks with support from the IMF and WBG.
Finally, the Framework will help catalyze official technical and financial assistance and private sector financing. The IMF and WBG stand ready to support a country-led platform to mobilize additional programmatic and project climate financing that could be implemented in 2025.
Source: ASEAN – Association of SouthEast Asian Nations
Secretary-General of ASEAN, Dr. Kao Kim Hourn, attended the ASEAN-Canada Special Summit on Enhancing ASEAN Connectivity and Resilience in Vientiane today. The Leaders from ASEAN and Canada adopted the Joint Leaders’ Statement on Enhancing ASEAN Connectivity and Resilience, in support of the priorities of the Lao PDR’s ASEAN Chairmanship in 2024.
The post ASEAN-Canada Special Summit adopts Joint Statement on Enhancing ASEAN Connectivity and Resilience appeared first on ASEAN Main Portal.
Headline: Verizon dona $50,000 a la Los Angeles Mission
IRVINE, CA – En honor al Día Mundial de la Salud Mental, Verizon se enorgullece de anunciar una donación de $50,000 a Los Angeles Mission. El donativo permitirá a la organización ampliar sus servicios y proporcionar suministros de socorro críticos a personas de la comunidad sin hogar durante eventos climáticos severos, como las intensas olas de calor del verano y las olas de frío durante el invierno.
Este es el segundo año consecutivo en el que Verizon apoya el trabajo vital de Los Angeles Mission brindando ayuda en casos de desastre climático estacional. La donación del año pasado fue fundamental para proporcionar recursos como ropa, alimentos, refugio de emergencia y suministros para las inclemencias del tiempo a la población vulnerable sin vivienda en todo el condado de Los Ángeles. Con la donación de este año, Verizon continua ese apoyo, especialmente porque las condiciones climáticas extremas representan cada vez más una amenaza para el bienestar físico y mental de las personas sin hogar.
“Estamos profundamente agradecidos con Verizon por su asociación continua para brindar ayuda en casos de desastres la cual es esencial para salvar las vidas de aquellos más vulnerables dentro de nuestra comunidad”, dijo el pastor Troy Vaughn, presidente y director ejecutivo de Los Angeles Mission. “Mientras enfrentamos olas de calor históricas y se aproxima la temporada de frío en el condado de Los Ángeles y en todo California, muchos de nuestros vecinos sin vivienda, veteranos e individuos que huyen de la violencia doméstica se quedan sin refugio seguro en medio de los extremos cambios climáticos. Esta generosa donación de Verizon nos permitirá ampliar nuestra capacidad y asegurar suministros vitales para proteger a más personas durante estos eventos climáticos severos, garantizando que tengan acceso a refugio, seguridad y esperanza en estos tiempos difíciles. Felicitamos a los socios corporativos como Verizon por estar a nuestro lado en momentos de crisis comunitaria”.
La donación de Verizon se alinea con la importancia del Día Mundial de la Salud Mental y enfatiza la conexión entre un hogar estable, la salud mental y el bienestar general. La organización reconoce que la población sin vivienda enfrenta riesgos desproporcionados, no sólo por el costo físico del mal tiempo sino también por el estrés y el trauma que acompañan a la inestabilidad de la vivienda. Esta financiación ayudará a aliviar algunas de esas presiones al garantizar que las personas tengan acceso a recursos importantes cuando más los necesitan.
“En Verizon, creemos que conectarse con nuestra comunidad va más allá de la tecnología: se trata de extender una mano a quienes más lo necesitan. Los Angeles Mission ha sido un faro de esperanza para la población sin vivienda, brindando servicios y apoyo esenciales”, dijo Steven Keller, presidente del Mercado Pacífico de Verizon. “En el Día Mundial de la Salud Mental, nos sentimos honrados de contribuir a su vital labor, ayudando a marcar una gran diferencia en las vidas de nuestros vecinos más vulnerables”.
El apoyo continuo de Verizon a organizaciones locales como Los Angeles Mission es para el compromiso de la compañía con la responsabilidad social y su misión de ayudar a cerrar la brecha para las comunidades desatendidas a través de donaciones corporativas y esfuerzos de voluntariado.
Headline: Verizon donates $50,000 to Los Angeles Mission
IRVINE, C.A. – In honor of World Mental Health Day, Verizon is proud to announce a $50,000 donation to Los Angeles Mission. This funding will enable the organization to expand its services and provide critical relief supplies to the unhoused community during severe weather events, such as the intense heat waves of summer and the frigid cold snaps of winter.
This marks the second consecutive year that Verizon has supported Los Angeles Mission’s vital work providing seasonal weather disaster relief. Last year’s donation was instrumental in providing resources like clothing, food, emergency shelter, and inclement weather supplies to the vulnerable unhoused population across Los Angeles County. With this year’s donation, Verizon aims to continue that support, especially as extreme weather conditions increasingly pose a threat to the physical and mental well-being of unhoused individuals.
“We are profoundly grateful to Verizon for their ongoing partnership in providing life-saving disaster relief to the most vulnerable among us,” said Pastor Troy Vaughn, President and CEO of Los Angeles Mission. “As we face both historic heat waves and the upcoming cold weather season in Los Angeles County and throughout California, many of our unhoused neighbors, veterans, and individuals fleeing domestic violence are left without safe refuge amid worsening weather extremes. This generous grant from Verizon will enable us to expand our capacity and secure vital supplies to protect more people during these severe weather events, ensuring they have access to shelter, safety, and hope in these trying times. We commend corporate partners like Verizon for standing by our side in moments of community crisis.”
Verizon’s donation aligns with the significance of World Mental Health Day, emphasizing the connection between stable housing, mental health, and overall well-being. The organization recognizes that the unhoused population faces disproportionate risks, not only from the physical toll of harsh weather but also from the stress and trauma that accompanies housing instability. This funding will help alleviate some of those pressures by ensuring individuals have access to important resources when they need them most.
“At Verizon, we believe that connecting with our community goes beyond technology—it’s about extending a hand to those in need. The Los Angeles Mission has been a beacon of hope for the unhoused population, providing essential services and support” said Steven Keller, Pacific Market President at Verizon. “On World Mental Health Day, we are humbled to contribute to their vital work, helping to make a meaningful difference in the lives of our most vulnerable neighbors.”
Verizon’s continued support of local organizations like Los Angeles Mission underscores the company’s broader commitment to social responsibility and its mission to help bridge the gap for underserved communities through both corporate giving and volunteer efforts.
Headline: Microsoft expands AI capabilities to shape a healthier future
REDMOND, Wash. — Oct. 10, 2024 — On Thursday, Microsoft Corp. is unveiling several Microsoft Cloud for Healthcare innovations that connect care experiences, enhance team collaboration, empower healthcare workers, and unlock clinical and operational insights.
Through new healthcare AI models in Azure AI Studio, capabilities for healthcare data solutions in Microsoft Fabric, the healthcare agent service in Copilot Studio, and an AI-driven nursing workflow solution, Microsoft Cloud for Healthcare is supporting healthcare organizations on every step of their journey toward shaping a healthier future.
“We are at an inflection point where AI breakthroughs are fundamentally changing the way we work and live,” said Joe Petro, corporate vice president, Healthcare and Life Sciences Solutions and Platforms at Microsoft. “Across the broader healthcare and life sciences industry, these advancements are dramatically enhancing patient care and also rekindling the joy of practicing medicine for clinicians. Microsoft’s AI-powered solutions are helping lead these efforts by streamlining workflows, improving data integration, and utilizing AI to deliver better outcomes for healthcare professionals, researchers and scientists, payors, providers, medtech developers, and ultimately the patients they all serve.”
Expanding the reach of AI beyond text: healthcare AI models in Azure AI Studio
Microsoft is announcing the launch of healthcare AI models, a collection of cutting-edge multimodal medical imaging foundation models available in the Azure AI model catalog. Developed in collaboration with partners like Providence and Paige.ai, these models enable healthcare organizations to integrate and analyze diverse data types — ranging from medical imaging to genomics and clinical records. By using these advanced models as a foundation, healthcare organizations can rapidly build, fine-tune and deploy AI solutions tailored to their specific needs, all while minimizing the extensive compute and data requirements typically associated with building multimodal models from scratch.
“The development of foundational AI models in pathology and medical imaging is expected to drive significant advancements in cancer research and diagnostics,” said Carlo Bifulco, MD, chief medical officer of Providence Genomics and a co-author of the Prov-GigaPath study. “These models can complement human expertise by providing insights beyond traditional visual interpretation and, as we move toward a more integrated, multimodal approach, will reshape the future of medicine.”
Harnessing the power of healthcare data with Microsoft Fabric
Historically, healthcare data has been difficult to access due to its unstructured nature and the limitations of existing data management systems. These challenges have limited organizations’ ability to gain a comprehensive view of patient experiences and access valuable insights.
With the general availability of healthcare data solutions in Microsoft Fabric, healthcare organizations can overcome these barriers by reshaping how users access, manage and act on data with a single, unified AI-powered platform. Additionally, healthcare security application templates for Microsoft Purview, an innovative suite of features designed to help govern healthcare data, are available in public preview. We’re also launching new capabilities in public preview within healthcare data solutions in Microsoft Fabric including:
Conversational data integration: Send conversational data, such as patient conversations, from DAX Copilot to the Fabric platform. By sending DAX Copilot audio files, transcripts and draft clinical notes to Fabric, customers and partners can leverage various native tools in Azure and Fabric to analyze this data and/or combine it with other data to generate comprehensive insights.
Social determinants of health (SDOH) public dataset transformation: Ingest, persist, harmonize and consume SDOH national and international public datasets to enable healthcare organizations to identify risks and health-related social needs to help create equitable healthcare for all patients and communities.
Centers for Medicare & Medicaid Services (CMS) claim and claim line feed (CCLF) data ingestion: Streamline the ingestion of claims data and harmonize with clinical, imaging and SDOH data to unlock actionable insights on patients and populations.
Care management analytics: Leverage unified healthcare data and care management analytical templates to enhance patient care by identifying high-risk individuals, optimizing treatment plans and improving care coordination.
Data discovery and cohorting: Utilize an integrated workflow that allows healthcare organizations to create, manage, analyze and share patient cohorts.
Building a safe and responsible healthcare agent
Healthcare organizations face numerous challenges, including workforce shortages, rising costs and increasing patient care demands. Generative AI offers a potential solution to these challenges by automating administrative tasks, analyzing vast amounts of data for actionable insights and assisting healthcare professionals in decision-making.
To address this, Microsoft is announcing the public preview of healthcare agent service in Copilot Studio to build Copilot agents for appointment scheduling, clinical trial matching, patient triaging and more. Organizations can leverage the healthcare agent service to help create connected patient experiences, improve clinical workflows, and empower healthcare professionals while helping organizations meet industry expectations with Microsoft Copilot Studio. Early adopters, like Cleveland Clinic, which provided feedback to help optimize the solution for a healthcare setting, are already using these innovations to enhance patient experiences and improve operational efficiency.
Enhancing nursing workflows with AI: nursing early outcomes
With the World Health Organization (WHO)1 predicting a shortage of 4.5 million nurses by 2030, the urgency to deliver technology to support the nursing profession is felt more than ever.
Last month at Epic’s UGM, we announced the next focus area for our collaboration in Epic Workshop. Today, we’re sharing more about how we’re actively collaborating with several leading healthcare organizations — including Advocate Health, Baptist Health of Northeast Florida, Duke Health, Intermountain Health Saint Joseph Hospital, Mercy, Northwestern Medicine, Stanford Health Care, and Tampa General Hospital — to build an AI solution using ambient technology that addresses nursing documentation by drafting flowsheets for review, allowing nurses to focus less on paperwork and more on their patients. This innovation expands on the company’s long-standing strategic collaboration and joint development initiatives with Epic.
“AI is transforming nursing workflows by streamlining administrative tasks, allowing nurses to focus more on patient care,” said Corey Miller, vice president of R&D at Epic. “Together with Microsoft, we’re using AI-powered ambient voice technology to populate patient assessments. Nurses using the tool are already sharing positive feedback on how it enhances personalized patient interactions.”
“For nurses, the integration of AI-driven solutions into our workflows is a game changer,” said Terry McDonnell, DNP, ANCP-BC, senior vice president and chief nurse executive, Duke University Health System, vice dean for Clinical Affairs, Duke University School of Nursing, Duke Health. “It allows us to focus more on patient care rather than the administrative burden of documentation. By automating tedious tasks, Microsoft’s ambient AI solution helps alleviate burnout and gives us more time to connect with our patients at the bedside, where we truly make a difference.”
Empowering responsible AI practices across healthcare
In line with Microsoft’s dedication to responsible AI, these new solutions adhere to the company’s AI principles established in 2018 to help guide AI development and use. Microsoft remains committed to developing responsible AI by design, ensuring that these technologies positively impact both the healthcare ecosystem and broader society. In practice this means properly building, testing and monitoring systems to avoid undesirable behaviors, such as harmful content, bias, misuse and other unintended risks. Over the years, we have made significant investments in building out the necessary governance structure, policies, tools and processes to uphold these principles and build and deploy AI safely. At Microsoft, we are committed to sharing our learnings on this journey of upholding our Responsible AI principles with our customers. We use our own best practices and learnings to provide people and organizations with capabilities and tools to build AI applications that share the same high standards we strive for.
For more information on Microsoft Cloud for Healthcare and the new data and AI solutions and their impact, visit https://news.microsoft.com/hlth-2024, or visit Microsoft at booth #4004 at HLTH 2024.
Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.
1Nursing and midwifery, World Health Organization, 2024
For more information, press only:
Microsoft Media Relations, WE Communications, (425) 638-7777, [email protected]
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This press release includes key announcements on AI-driven healthcare innovations by Microsoft and includes a quote emphasizing AI’s transformative role in healthcare.
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Education is essentially an “industry of industries,” with K-12 and higher education enterprises handling data that could include health records, financial data, and other regulated information. At the same time, their facilities can host payment processing systems, networks that are used as internet service providers (ISPs), and other diverse infrastructure. The cyberthreats that Microsoft observes across different industries tend to be compounded in education, and threat actors have realized that this sector is inherently vulnerable. With an average of 2,507 cyberattack attempts per week, universities are prime targets for malware, phishing, and IoT vulnerabilities.¹
Security staffing and IT asset ownership also affect education organizations’ cyber risks. School and university systems, like many enterprises, often face a shortage of IT resources and operate a mix of both modern and legacy IT systems. Microsoft observes that in the United States, students and faculty are more likely to use personal devices in education compared to Europe, for example. Regardless of ownership however, in these and other regions, busy users do not always have a security mindset.
This edition of Cyber Signals delves into the cybersecurity challenges facing classrooms and campuses, highlighting the critical need for robust defenses and proactive measures. From personal devices to virtual classes and research stored in the cloud, the digital footprint of school districts, colleges, and universities has multiplied exponentially.
We are all defenders.
A uniquely valuable and vulnerable environment
The education sector’s user base is very different from a typical large commercial enterprise. In the K-12 environment, users include students as young as six years old. Just like any public or private sector organization, there is a wide swath of employees in school districts and at universities including administration, athletics, health services, janitorial, food service professionals, and others. Multiple activities, announcements, information resources, open email systems, and students create a highly fluid environment for cyberthreats.
Virtual and remote learning have also extended education applications into households and offices. Personal and multiuser devices are ubiquitous and often unmanaged—and students are not always cognizant about cybersecurity or what they allow their devices to access.
Education is also on the front lines confronting how adversaries test their tools and their techniques. According to data from Microsoft Threat Intelligence, the education sector is the third-most targeted industry, with the United States seeing the greatest cyberthreat activity.
Cyberthreats to education are not only a concern in the United States. According to the United Kingdom’s Department of Science Innovation and Technology 2024 Cybersecurity Breaches Survey, 43% of higher education institutions in the UK reported experiencing a breach or cyberattack at least weekly.²
QR codes provide an easily disguised surface for phishing cyberattacks
Today, quick response (QR) codes are quite popular—leading to increased risks of phishing cyberattacks designed to gain access to systems and data. Images in emails, flyers offering information about campus and school events, parking passes, financial aid forms, and other official communications all frequently contain QR codes. Physical and virtual education spaces might be the most “flyer friendly” and QR code-intensive environments anywhere, given how big a role handouts, physical and digital bulletin boards, and other casual correspondence help students navigate a mix of curriculum, institutional, and social correspondence. This creates an attractive backdrop for malicious actors to target users who are trying to save time with a quick image scan.
Recently the United States Federal Trade Commission issued a consumer alert on the rising threat of malicious QR codes being used to steal login credentials or deliver malware.³
Microsoft Defender for Office 365 telemetry shows that approximately more than 15,000 messages with malicious QR codes are targeted toward the educational sector daily—including phishing, spam, and malware.
Legitimate software tools can be used to quickly generate QR codes with embedded links to be sent in email or posted physically as part of a cyberattack. And those images are hard for traditional email security solutions to scan, making it even more important for faculty and students to use devices and browsers with modern web defenses.
Targeted users in the education sector may use personal devices without endpoint security. QR codes essentially enable the threat actor to pivot to these devices. QR code phishing (since its purpose is to target mobile devices) is compelling evidence of mobile devices being used as an attack vector into enterprises—such as personal accounts and bank accounts—and the need for mobile device protection and visibility. Microsoft has significantly disrupted QR code phishing attacks. This shift in tactics is evident in the substantial decrease in daily phishing emails intercepted by our system, dropping from 3 million in December 2023 to just 179,000 by March 2024.
Source: Microsoft incident response engagements.
Universities present their own unique challenges. Much of university culture is based on collaboration and sharing to drive research and innovation. Professors, researchers, and other faculty operate under the notion that technology, science—simply knowledge itself—should be shared widely. If someone appearing as a student, peer, or similar party reaches out, they’re often willing to discuss potentially sensitive topics without scrutinizing the source.
University operations also span multiple industries. University presidents are effectively CEOs of healthcare organizations, housing providers, and large financial organizations—the industry of industries factor, again. Therefore, top leaders can can be prime targets for anyone attacking those sectors.
The combination of value and vulnerability found in education systems has attracted the attention of a spectrum of cyberattackers—from malware criminals employing new techniques to nation-state threat actors engaging in old-school spy craft.
Microsoft continually monitors threat actors and threat vectors worldwide. Here are some key issues we’re seeing for education systems.
Email systems in schools offer wide spaces for compromise
The naturally open environment at most universities forces them to be more relaxed in their email hygiene. They have a lot of emails amounting to noise in the system, but are often operationally limited in where and how they can place controls, because of how open they need to be for alumni, donors, external user collaboration, and many other use cases.
Education institutions tend to share a lot of announcements in email. They share informational diagrams around local events and school resources. They commonly allow external mailers from mass mailing systems to share into their environments. This combination of openness and lack of controls creates a fertile ground for cyberattacks.
AI is increasing the premium on visibility and control
Cyberattackers recognizing higher education’s focus on building and sharing can survey all visible access points, seeking entry into AI-enabled systems or privileged information on how these systems operate. If on-premises and cloud-based foundations of AI systems and data are not secured with proper identity and access controls, AI systems become vulnerable. Just as education institutions adapted to cloud services, mobile devices and hybrid learning—which introduced new waves of identities and privileges to govern, devices to manage, and networks to segment—they must also adapt to the cyber risks of AI by scaling these timeless visibility and control imperatives.
Nation-state actors are after valuable IP and high-level connections
Universities handling federally funded research, or working closely with defense, technology, and other industry partners in the private sector, have long recognized the risk of espionage. Decades ago, universities focused on telltale physical signs of spying. They knew to look for people showing up on campus taking pictures or trying to get access to laboratories. Those are still risks, but today the dynamics of digital identity and social engineering have greatly expanded the spy craft toolkit.
Universities are often epicenters of highly sensitive intellectual property. They may be conducting breakthrough research. They may be working on high-value projects in aerospace, engineering, nuclear science, or other sensitive topics in partnership with multiple government agencies.
For cyberattackers, it can be easier to first compromise somebody in the education sector who has ties to the defense sector and then use that access to more convincingly phish a higher value target.
Universities also have experts in foreign policy, science, technology, and other valuable disciplines, who may willingly offer intelligence, if deceived in social-engineering cyberattacks employing false or stolen identities of peers and others who appear to be in individuals’ networks or among trusted contacts. Apart from holding valuable intelligence themselves, compromised accounts of university employees can become springboards into further campaigns against wider government and industry targets.
Nation-state actors targeting education
Peach Sandstorm
Peach Sandstorm has used password spray attacks against the education sector to gain access to infrastructure used in those industries, and Microsoft has also observed the organization using social engineering against targets in higher education.
Mint Sandstorm
Microsoft has observed a subset of this Iranian attack group targeting high-profile experts working on Middle Eastern affairs at universities and research organizations. These sophisticated phishing attacks used social engineering to compel targets to download malicious files including a new, custom backdoor called MediaPl.
Mabna Institute
In 2023, the Iranian Mabna Institute conducted intrusions into the computing systems of at least 144 United States universities and 176 universities in 21 other countries.
The stolen login credentials were used for the benefit of Iran’s Islamic Revolutionary Guard Corps and were also sold within Iran through the web. Stolen credentials belonging to university professors were used to directly access university library systems.
Emerald Sleet
This North Korean group primarily targets experts in East Asian policy or North and South Korean relations. In some cases, the same academics have been targeted by Emerald Sleet for nearly a decade.
Emerald Sleet uses AI to write malicious scripts and content for social engineering, but these attacks aren’t always about delivering malware. There’s also an evolving trend where they simply ask experts for policy insight that could be used to manipulate negotiations, trade agreements, or sanctions.
Moonstone Sleet
Moonstone Sleet is another North Korean actor that has been taking novel approaches like creating fake companies to forge business relationships with educational institutions or a particular faculty member or student.
One of the most prominent attacks from Moonstone Sleet involved creating a fake tank-themed game used to target individuals at educational institutions, with a goal to deploy malware and exfiltrate data.
Storm-1877
This actor largely engages in cryptocurrency theft using a custom malware family that they deploy through various means. The ultimate goal of this malware is to steal crypto wallet addresses and login credentials for crypto platforms.
Students are often the target for these attacks, which largely start on social media. Storm-1877 targets students because they may not be as aware of digital threats as professionals in industry.
A new security curriculum
Due to education budget and talent constraints and the inherent openness of its environment, solving education security is more than a technology problem. Security posture management and prioritizing security measures can be a costly and challenging endeavor for these institutions—but there is a lot that school systems can do to protect themselves.
Maintaining and scaling core cyberhygiene will be key to securing school systems. Building awareness of security risks and good practices at all levels—students, faculty, administrators, IT staff, campus staff, and more—can help create a safer environment.
For IT and security professionals in the education sector, doing the basics and hardening the overall security posture is a good first step. From there, centralizing the technology stack can help facilitate better monitoring of logging and activity to gain a clearer picture into the overall security posture and any vulnerabilities.
Oregon State University
Oregon State University (OSU), an R1 research-focused university, places a high priority on safeguarding its research to maintain its reputation. In 2021, it experienced an extensive cybersecurity incident unlike anything before. The cyberattack revealed gaps in OSU’s security operations.
“The types of threats that we’re seeing, the types of events that are occurring in higher education, are much more aggressive by cyber adversaries.”
—David McMorries, Chief Information Security Officer at Oregon State University
In response to this incident, OSU created its Security Operations Center (SOC), which has become the centerpiece of the university’s security effort. AI has also helped automate capabilities and helped its analysts, who are college students, learn how to quickly write code—such as threat hunting with more advanced hunting queries.
Arizona Department of Education
A focus on Zero Trust and closed systems is an area that the Arizona Department of Education (ADE) takes further than the state requirements. It blocks all traffic from outside the United States from its Microsoft 365 environment, Azure, and its local datacenter.
“I don’t allow anything exposed to the internet on my lower dev environments, and even with the production environments, we take extra care to make sure that we use a network security group to protect the app services.”
—Chris Henry, Infrastructure Manager at the Arizona Department of Education
Follow these recommendations:
The best defense against QR code attacks is to be aware and pay attention. Pause, inspect the code’s URL before opening it, and don’t open QR codes from unexpected sources, especially if the message uses urgent language or contains errors.
Consider implementing “protective domain name service,” a free tool that helps prevent ransomware and other cyberattacks by blocking computer systems from connecting to harmful websites. Prevent password spray attacks with a stringent password and deploy multifactor authentication.
Educate students and staff about their security hygiene, and encourage them to use multifactor authentication or passwordless protections. Studies have shown that an account is more than 99.9% less likely to be compromised when using multifactor authentication.
Corey Lee has always had an interest in solving puzzles and crimes. He started his college career at Penn State University in criminal justice, but soon realized his passion for digital forensics after taking a course about investigating a desktop computer break-in.
After completing his degree in security and risk analysis, Corey came to Microsoft focused on gaining cross-industry experience. He’s worked on securing everything from federal, state, and local agencies to commercial enterprises, but today he focuses on the education sector.
After spending time working across industries, Corey sees education through a different lens—the significantly unique industry of industries. The dynamics at play inside the education sector include academic institutions, financial services, critical infrastructure like hospitals and transportation, and partnerships with government agencies. According to Corey, working in such a broad field allows him to leverage skillsets from multiple industries to address specific problems across the landscape.
The fact that education could also be called underserved from a cybersecurity standpoint is another compelling challenge, and part of Corey’s personal mission. The education industry needs cybersecurity experts to elevate the priority of protecting school systems. Corey works across the public and industry dialogue, skilling and readiness programs, incident response, and overall defense to protect not just the infrastructure of education, but students, parents, teachers, and staff.
Today, Corey is focused reimagining student security operations centers, including how to inject AI into the equation and bring modern technology and training to the table. By growing the cybersecurity work force in education and giving them new tools, he’s working to elevate security in the sector in a way that’s commensurate with how critical the industry is for the future.
Next steps with Microsoft Security
To learn more about Microsoft Security solutions, visit our website. Bookmark the Security blog to keep up with our expert coverage on security matters. Also, follow us on LinkedIn (Microsoft Security) and X (@MSFTSecurity) for the latest news and updates on cybersecurity.
¹The Institutional Impacts of a Cyberattack, University of Florida Information Technology. January 18, 2024.
²Cyber security breaches survey 2024: education institutions annex, The United Kingdom Department for Science, Innovation & Technology. April 9, 2024
³Scammers hide harmful links in QR codes to steal your information, Federal Trade Commission (Alvaro Puig), December 6, 2023.
Methodology: Snapshot and cover stat data represent telemetry from Microsoft Defender for Office 365 showing how a QR code phishing attack was disrupted by image detection technology and how Security Operations teams can respond to this threat. Platforms like Microsoft Entra provided anonymized data on threat activity, such as malicious email accounts, phishing emails, and attacker movement within networks. Additional insights are from the 78 trillion daily security signals processed by Microsoft each day, including the cloud, endpoints, the intelligent edge, and telemetry from Microsoft platforms and services including Microsoft Defender. Microsoft categorizes threat actors into five key groups: influence operations; groups in development; and nation-state, financially motivated, and private sector offensive actors. The new threat actors naming taxonomy aligns with the theme of weather.
Headline: Apple debuts the first scripted film captured in Apple Immersive Video
October 10, 2024
UPDATE
Apple debuts the first scripted film captured in Apple Immersive Video and reveals new immersive films for Apple Vision Pro
New episodes, films, series, and concerts captured in Apple Immersive Video are set to debut later this year, with more coming early next year
Today, Apple revealed new episodes, films, series, and music performances captured in Apple Immersive Video that will debut on Apple Vision Pro for free. Apple Immersive Video is a remarkable media format that leverages ultra-high-resolution 3D video and Spatial Audio to put viewers in the center of the action.
Submerged, the first scripted short film captured in Apple Immersive Video, written and directed by Academy Award-winning filmmaker Edward Berger, is now available. Next month, Apple and The Weeknd will launch a breathtaking immersive music experience celebrating the seven-time diamond-certified artist’s highly anticipated new album, Hurry Up Tomorrow. With Concert for One, a new concert series set to debut later this year, fans will experience intimate performances from the world’s biggest artists, beginning with a special set from the award-winning British singer-songwriter RAYE. New episodes of Adventure, which follows pioneering athletes as they take on awe-inspiring challenges, will also release this year.
Submerged
This immersive fiction thriller, available to Apple Vision Pro users around the world for free, invites viewers onto a WWII-era submarine and follows its crew as they wrestle to combat a harrowing attack. This adrenaline-pumping thrill ride showcases the unique storytelling experiences made possible by Apple Immersive Video.
“Apple Immersive Video allows Apple Vision Pro users around the world to experience the next generation of sports, documentaries, and music performances. With Submerged, an immersive film from visionary director Edward Berger, we’re excited to premiere the next generation of narrative filmmaking,” said Tor Myhren, Apple’s vice president of Marketing Communications. “Vision Pro places you in the middle of the story — inside a densely packed submarine, shoulder to shoulder with its crew. That deep sense of immersion just wasn’t possible before, and we can’t wait to see how it inspires filmmakers to push the boundaries of visual storytelling.”
“Apple Immersive Video is a wonderful new medium that expands the horizon of storytelling,” said Edward Berger, director of the Academy Award-winning All Quiet on the Western Front and the upcoming, critically acclaimed Conclave. “Apple Vision Pro inspired me to tell a story in a way that just wasn’t possible before, and in the process, it changed the way my team and I think about creating a story. This immersive technology pioneered by Apple is going to change the future of filmmaking.”
Shot on location in Prague, Brussels, and Malta over three weeks, Submerged was filmed using a full-scale 23-ton submarine set made with real steel, brass, and metal that was modeled after WWII-era vessels. Significant portions of the set were built to withstand being fully submerged, and featured practical camera traps and special effects that were uniquely rigged to expose Apple Immersive Video cameras to sparks, steam, water, and fire without breaking viewers’ sense of immersion. Cast members who might appear out of frame or focus in a 2D feature were meticulously scripted, and participated in extensive stunt rehearsals, including freedive training in dive tanks and open water, to maintain continuity and realism. Fans can go behind the scenes of Submerged with a short film that shows how the cast and crew crafted this immersive, action-packed drama exclusively for Apple Vision Pro.
2024 NBA All-Star Weekend
Next Friday, basketball fans will enjoy an immersive short film of the 2024 NBA All-Star Weekend, featuring the Rising Stars, the Slam Dunk contest, the first-ever NBA vs. WNBA 3-Point Challenge, “Stephen vs. Sabrina,” and highlights from the All-Star Game.
Concert for One
Concert for One is the first music series captured in Apple Immersive Video, bringing fans closer to their favorite artists than ever before. The inaugural performance comes from six-time BRIT Award winner RAYE, who alongside her 20-piece band offers her blend of R&B, jazz, and pop to viewers from the best seat in the house.
Adventure
After stepping into thin air above Norway’s breathtaking fjords with highliner Faith Dickey, and traversing the streets and rooftops of Paris with the world’s leading parkour group, viewers are invited to swim alongside freediver Ant Williams while he attempts to best his record for the longest distance under ice with just a single breath. The next episode of Adventure, “Ice Dive,” will debut in the U.S. in December.
Early next year, viewers can experience the shores of Majorca, Spain, where world-class sport climber Kai Lightner tackles his biggest challenge yet: free-solo climbing over the secluded and rocky coves, where one slip will send him into the raging sea.
Elevated
In the next episode of Elevated, “Maine,” available early next year, viewers will experience a crisp autumn in New England, with a stunning journey along winding coastlines and above breathtakingly beautiful rivers.
These new episodes, films, series, and concerts join the growing Apple Immersive Video catalog available today, which includes Alicia Keys: Rehearsal Room, Boundless, Elevated, Prehistoric Planet Immersive, Wild Life, and more — all available from the Apple TV app on Apple Vision Pro.
Availability
Apple Vision Pro is available in Australia, Canada, China mainland, Hong Kong, France, Germany, Japan, Singapore, the U.K., and the U.S.
Users in these countries and regions can enjoy a free demo of Apple Vision Pro at their local Apple Store and receive an extended preview of Submerged upon request beginning Monday, October 14.
Apple Immersive Video is available at no additional cost from the Apple TV app in Australia, Canada, Hong Kong, France, Germany, Japan, Singapore, the U.K., and the U.S. Users in China mainland can access Apple Immersive Video from the Migu Video and Tencent Video apps, which are available to download for free from the App Store for Apple Vision Pro.
New Apple Immersive Video episodes and films debut in U.S. English with subtitles in additional languages. Title availability varies by country or region.
Whenever a compelling new AI model emerges, I like to put it through its paces. Recently, I’ve been experimenting with the preview of OpenAI o1 (formerly known as Strawberry), an astonishing new LLM that’s capable of solving complex and layered problems, especially in math, science, and coding.
For businesses, o1 model and a slew of others in the works represent a clear opportunity. But they also reflect a less obvious challenge: as LLMs become more sophisticated, they’ll also become quickly commoditized, with not a lot of differentiation between them.
In other words, today’s breakthroughs will become tomorrow’s table stakes. This means companies should focus more on how they integrate these models with their own data and workflows, rather than seeing the models themselves as a unique competitive advantage. Embracing this shift in mindset is the way to ensure your business stays ahead.
Decoding the latest advance We have historically relied on size to improve the capabilities of LLMs—training them on more and more data, a process that is incredibly time- and resource-intensive.
OpenAI o1 introduces an entirely new scaling dimension, one in which a model can become significantly more capable by taking more time to “think” or reason before it responds. That means o1 can tackle problems step by step, much like how a human might approach challenging questions.
Ethan Mollick, professor at the Wharton School at the University of Pennsylvania, tried the o1 preview on a tough segment of a crossword puzzle and it performed quite well (though not flawlessly). Crossword puzzles trip up other LLMs because they can’t perform the iterative thinking that’s required: trying a word, scratching it out when it doesn’t fit, and cross-referencing clues to see how answers might fit together.
People across the business world are already experimenting with how o1 can handle tasks like responding to RFPs or performing risk assessments. It’s clear that we’ll look back and consider o1 to be one of the most pivotal advancements in generative AI.
So if o1 is such a breakthrough, why am I arguing that models will be commoditized? It comes down to competition. With so much energy and opportunity in the AI space, model developers are racing to exceed one another’s advances. We can expect to see more models, from more providers, with more capabilities on par with one another.
Technology and commoditization Think of another technology that was groundbreaking for its time: the television. Once a rare luxury made by only a few companies, TVs are now produced by many manufacturers, with excellent models widely available. About two decades ago, flat-screen TVs were coveted and expensive. Now it can cost as much to mount a TV on the wall as it does to buy the TV itself, and “flat-screen TV” has become a redundant phrase. We expect LLMs to follow a similar path to commoditization, but at a swifter pace.
What does this mean for businesses? Leaders have to look beyond the LLMs themselves and focus on creating a system around the models that will serve the unique needs of their organizations. Only by understanding AI systems more holistically will they be able to leverage them to innovate, create value, and maintain a competitive edge.
Unlocking the real value of AI for business LLMs get a lot of attention in the media, but the real value of AI comes from how you steer, ground, and fine-tune these models with your business data and workflow. And those capabilities come from the full system that surrounds the LLM.
Consider the evolution of personal computers. At first the raw power of the CPU was the most critical factor. But as powerful CPUs became commodities, the value of the PC shifted to the overall system—the combination of hardware and software that met your needs. Today, we don’t judge a PC by the power of a single component; it’s the value of the entire package that differentiates one device from another.
The same goes for AI: the system is more powerful than any one part. An LLM on its own, no matter how impressive, won’t deliver truly valuable results until it’s grounded in your company’s specific knowledge. When a system like Copilot can draw from your work data—emails, files, meetings, etc.—it becomes much smarter about your business. The system performs better when you can steer it toward your goals and fine-tune it to adapt to your specific needs. Together, all these elements feed the advanced “thinking” that the LLMs can and will be doing.
Think about how this system would work for, say, a retailer. An LLM on its own can offer general ideas for training new employees for the sales floor. But AI is more powerful if it also knows the specifics of your business. A highly effective AI agent might create and deliver training modules for your new retail employees, with insight into your latest products, up-to-the-minute promotions, and specialized customer service techniques.
Summing it up LLMs are making incredible progress, and I’m delighted every day by what they can accomplish. But their true potential comes through when they’re applied to your unique business data and workflows. That way, they’ll solve more than puzzles—they’ll help untangle your thorniest business problems and reveal new opportunities for creating value.
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 Jordanian authorities have reached a staff level agreement on the second review under the Extended Fund Facility (EFF). All commitments for the second review under the program have been met, demonstrating the authorities’ steadfast commitment to sound macro-economic policies and continued progress on reforms.
Jordan continues to show resilience and maintain macro-economic stability, despite the headwinds caused by the intensifying conflict in the region. Jordan’s economy is expected to grow by 2.3 percent in 2024 and 2.5 percent in 2025. However, strong and timely international support remains important to help Jordan face the external headwinds, and to continue to shoulder the cost of hosting a large number of Syrian refugees.
Bringing the Jordanian economy onto a higher growth trajectory is essential to create more jobs and raise prosperity. This requires accelerating structural reforms, while maintaining macro-economic stability, and making significant progress in implementing the authorities’ Economic Modernization Vision.
Amman: A staff team from the International Monetary Fund (IMF), led by Ron van Rooden, visited Amman during September 30–October 10, 2024, for discussions on the 2024 Article IV consultation and the second review under the arrangement under the IMF’s Extended Fund Facility (EFF), which was approved by the IMF’s Executive Board on January 10, 2024 (Press Release).
At the conclusion of the mission, Mr. van Rooden issued the following statement:
“We are pleased to announce that the IMF team and the Jordanian authorities reached a staff-level agreement on the second review of the authorities’ economic reform program supported by the EFF arrangement, approved in January of this year. Program performance continues to be strong, despite a challenging external environment. All quantitative performance criteria and structural benchmarks for the second review were met and steady progress is being made toward achieving the program’s overall objectives, including good progress toward meeting benchmarks for future reviews. The agreement is subject to approval by the IMF’s management and the Executive Board. The completion of this review will make another SDR 97.784 million (about US$131 million) available, out of the previously approved program size of SDR 926.370 million (about US$1.2 billion).
“Jordan continues to show resilience and maintain macro-economic stability, despite the headwinds caused by the intensifying conflict in the region. This resilience is the result of the authorities’ continued pursuit of sound macro-economic policies and reform progress. The recent upgrades to Jordan’s credit ratings, the first in over 20 years, testify to the credibility of the authorities’ economic policies.
“Nonetheless, as the conflict continues and widens, it is having a larger impact on Jordan’s economy than anticipated at the outset of the program. The economy is projected to grow by 2.3 percent this year, with weaker domestic demand offset by a stronger performance in net exports. Growth is projected at 2.5 percent for 2025. Inflation remains low, at 2 percent, thanks to the Central Bank of Jordan’s (CBJ) firm commitment to monetary stability and safeguarding the exchange rate peg. The financial sector remains healthy and well capitalized. The current account deficit is projected to narrow to 4.4 percent of GDP this year, helping to further build the CBJ’s reserve buffers, and to widen slightly to 4.7 percent of GDP in 2025.
“Government revenues have been adversely affected this year by the weaker domestic demand, as well as a sharper-than-expected drop in the prices of key export commodities. The authorities have taken strong actions to offset the revenue shortfall to contain this year’s central government budget deficit. With this, the authorities are committed to limit this year’s central government primary deficit (excluding grants and transfers to public utilities) to 2.9 percent of GDP, up slightly from 2.7 percent of GDP in 2023. Together with measures taken to limit the operational losses of the utility companies and continued surpluses of the social security system, the overall general government primary deficit (excluding grants) is expected to remain broadly unchanged this year, at 1.3 percent of GDP, compared to 1.4 percent in 2023, and public debt to be contained at just over 90 percent of GDP by end-2024.
“The authorities are firmly committed to continue to implement sound macro-economic policies to maintain stability and to advance structural reforms needed to further strengthen the resilience of Jordan’s economy and to improve people’s living standards, as envisaged also in their Economic Modernization Vision. Notably, fiscal policy aims to reduce public debt to 80 percent of GDP by 2028 to ensure fiscal sustainability, by advancing a gradual fiscal consolidation, including limiting the central government primary deficit (excluding grants and transfers to the public utilities) to 2 percent of GDP in 2025. With further efforts to improve the finances of the public utilities and continued surpluses of the social security system, the overall general government primary deficit (excluding grants) will be reduced by 1.1 percent of GDP to 0.2 percent of GDP. The CBJ’s monetary policy will continue to be underpinned by its firm commitment to the exchange rate peg to the US dollar and to maintain low inflation, and the CBJ stands ready to undertake policy adjustments as necessary to credibly safeguard monetary and financial stability.
“The authorities are determined to step up the pace of structural reforms to achieve stronger growth and generate more jobs, which is particularly important given that unemployment remains high, particularly among the youth and women. Reforms will focus on improving the business environment, to attract more investment, by enhancing competition and labor market flexibility, while further strengthening the social safety net. Efforts will also focus on streamlining regulation and digitalization of government services, including tax and customs administration.
“The staff team is grateful to the authorities for the candid and constructive discussions. The team met with Prime Minister Hassan, Minister of Finance Shibli, Minister of Planning and International Cooperation Toukan, Minister of Economic Affairs Shehadeh, Governor of the Central Bank of Jordan Al-Sharkas; and other Ministers and senior government and CBJ officials.”
This morning, Co-founder and CEO of Google DeepMind and Isomorphic Labs Sir Demis Hassabis, and Google DeepMind Director Dr. John Jumper were co-awarded the 2024 Nobel Prize in Chemistry for their work developing AlphaFold, a groundbreaking AI system that predicts the 3D structure of proteins from their amino acid sequences. David Baker was also co-awarded for his work on computational protein design.
Before AlphaFold, predicting the structure of a protein was a complex and time-consuming process.
AlphaFold’s predictions, made freely available through the AlphaFold Protein Structure Database, have given more than 2 million scientists and researchers from 190 countries a powerful tool for making new discoveries. The AlphaFold 2 paper, published in 2021, remains one of the most-cited publications of all time.
Artificial Intelligence (AI) has long shown incredible potential for use in scientific research, and AlphaFold was proof-of-concept. As more scientists adopt AI for use in everything from building data, to simulating experiments, drug design, modelling complexity, discovering novel solutions for extant problems, and building upon existing knowledge, we will continue to see foundational scientific breakthroughs in the years ahead.
In a statement released after informed of the news, Demis Hassabis said:
“Receiving the Nobel Prize is the honour of a lifetime. Thank you to the Royal Swedish Academy of Sciences, to John Jumper and the AlphaFold team, the wider DeepMind and Google teams, and to all my colleagues past and present that made this moment possible. I’ve dedicated my career to advancing AI because of its unparalleled potential to improve the lives of billions of people. AlphaFold has already been used by more than two million researchers to advance critical work, from enzyme design to drug discovery. I hope we’ll look back on AlphaFold as the first proof point of AI’s incredible potential to accelerate scientific discovery.”
After receiving the news that he won the Nobel Prize, John Jumper released the following statement:
“Thank you to the Royal Swedish Academy of Sciences for this extraordinary honor. We are so honored to be recognized for delivering on the long promise of computational biology to help us understand the protein world and to inform the incredible work of experimental biologists. It is a key demonstration that AI will make science faster and ultimately help to understand disease and develop therapeutics. This is the work of an exceptional team at Google DeepMind and this award recognizes their amazing work.
Computational biology has long held tremendous promise for creating practical insights that could be put to use in real-world experiments. AlphaFold delivered on this promise. Ahead of us are a universe of new insights and scientific discoveries made possible by the use of AI as a scientific tool. Thank you to my colleagues over the years, for making possible this moment of recognition, as well as the many moments of discovery that lie ahead.”
Headline: Verizon está listo y ofrece consejos a medida que el huracán Milton se acerca a Florida
Alpharetta, GA – A medida que el huracán Milton se acerca a la costa de Florida, Verizon sigue comprometido a mantener conectados a la comunidad y al personal de primeros auxilios. Además de una red reforzada diseñada para soportar las condiciones más extremas, los ingenieros de Verizon tomaron firmes medidas de preparación para garantizar que haya recursos disponibles para una respuesta rápida.
“En Verizon, nuestra principal prioridad es apoyar a las comunidades a las que servimos. Nuestra capacidad de respuesta y apoyoen tiempos de crisis realmente importan”, dijo la presidenta de Atlantic South Market de Verizon, Leigh Anne Lanier. “Desde familias hasta empresas y socorristas, estamos aquí para brindarles unservicio confiable en el que pueden contar. Nuestro equipo está trabajando incansablemente para mantener a nuestros clientes conectados ahora y en los próximos días.”
Después del huracán Helene, las comunicaciones por satélite han demostrado ser una importante herramienta de comunicación cuando los servicios terrestres se han visto afectados. Asegúrese de que su teléfono esté listo con anticipación. Los clientes con un iPhone 14 o posterior deben actualizar a iOS 18 para asegurarse de poder enviar mensajes de texto o conectarse con servicios de emergencia vía satélite. Y para aquellos con dispositivos Google Pixel 9, la mensajería de emergencia también está disponible vía satélite. Ambos sistemas operativos cuentan con demos disponibles que permiten a los clientes practicar con antelación la mensajería vía satélite. Obtenga más información aquí.
Las redes de Verizon están preparadas
Las redes de Verizon están preparadas para mantener la conectividad incluso ante condiciones climáticas extremas. Con redundancia integrada en rutas y componentes críticos, la red de Verizon está diseñada con el objetivo de resistir condiciones climáticas adversas. Los ingenieros de Verizon se han preparado realizando controles exhaustivos, además de garantizar que los sistemas de respaldo, como baterías y generadores, estén operandoy cargados. Verizon también ha instalado enlaces en los Centros de Operaciones de Emergencia del área para permitir una comunicación perfecta con agencias locales, estatales y gubernamentales para garantizar una restauración rápida.
En preparación para posibles operaciones de recuperación de la red, Verizon ha puesto en marcha una flota de soluciones de redes portátiles, incluidos activos de redes portátiles satelitales, que proporcionan conectividad crucial en escenarios donde las conexiones de fibra se ven comprometidas, así como generadores móviles para ayudar a las comunidade con una pérdida de energía comercial.
Verizon Frontline está listo y preparado para ayudar a los socorristas en cualquier capacidad
El equipo de respuesta a crisis de primera línea de Verizon está listo para ayudar a garantizar que las agencias de seguridad pública en la primera línea de cualquier desastre tengan las capacidades de comunicaciones críticas necesarias para lograr sus misiones. Este equipo, compuesto principalmente por ex socorristas y personal militar, se dedica exclusivamente a apoyar a los clientes de seguridad pública durante emergencias sin costo para las agencias que reciben la ayuda.
En los primeros nueve meses de 2024, el equipo de respuesta a crisis de primera línea de Verizon respondió a más de 1000 solicitudes de soporte de comunicaciones de misión crítica de más de 500 agencias diferentes en 46 estados.
Estar preparado es esencial para apoyar a las empresas y comunidades locales
Al reconocer el papel fundamental de la conectividad en la continuidad del negocio, Verizon Business ofrece un conjunto de soluciones adaptadas para operaciones fluidas durante emergencias. Las empresas y las organizaciones gubernamentales necesitan tener un plan de acción adecuado. Las acciones sugeridas incluyen:
Mitigar las interrupciones para los clientes: Es importante pensar en lo que se necesita para garantizar un servicio continuo a sus clientes y qué software y equipo necesita su empresa para continuar con sus operaciones. Haga una lista detallada, que incluya contratos de servicio e información de garantía, y todos los números de teléfono pertinentes de las autoridades locales, empresas de servicios públicos, proveedores y vendedores.
La tecnología adecuada tiene un impacto: asegúrese de tener la tecnología adecuada para satisfacer las necesidades de conectividad de su empresa, suponiendo que necesite mudarse de su ubicación principal.
Los contactos y los documentos son clave: asegúrese de tener la información de contacto actualizada y disponible para todos los empleados, incluida la información del hogar para los trabajadores remotos y la información de las sucursales para las oficinas satélite.
Pruebe, pruebe y vuelva a probar: pruebe las redes primarias y de respaldo y refuerce las áreas débiles.
Mantenga un registro del equipo: asegúrese de que los empleados que trabajan desde casa hayan documentado todo el equipo corporativo que se utiliza para trabajar desde casa en caso de daño o pérdida.
Tenga un plan de respaldo: asegúrese de que existan planes de respaldo para cambiar el trabajo en caso de que los empleados que trabajan desde casa en un área afectada por la tormenta tengan que evacuar sus hogares o su hogar se quede sin energía comercial.
¿Estás listo para el huracán?
El equipo de Verizon trabaja todo el año para garantizar que los clientes permanezcan conectados con sus seres queridos y las actividades que les brindan comodidad durante un desastre. Mientras los residentes se preparan para mantenerse conectados y entretenidos, considere estos consejos:
Abastecerse de fuentes de carga como baterías para linternas y radios o cargadores de dispositivos. Vaya un paso más allá y cargue sus dispositivos que pueden actuar como cargadores para otros dispositivos, como computadoras portátiles y centrales eléctricas. ¡No olvide tener los cables!
Descargue películas, libros, aplicaciones y juegos en caso de un corte de energía. O reúna juegos de mesa, juegos de cartas y rompecabezas para prescindir de dispositivos.
Localice documentos importantes que pueda necesitar más adelante, así como fotografías y artículos sentimentales.
Planificar comidas no perecederas. Tenga a mano algunos ingredientes no perecederos, como un abrelatas manual y otros utensilios de cocina.
Tome algunas velas, mantas, almohadas o cualquier cosa que haga que su espacio seguro contra huracanes sea cómodo.
Lea los consejos de preparación para huracanes de la Cruz Roja Americana
Agregar nuestra página verificar estado de la red o va a la aplicación My Verizon y haga clic en Temas de soporte (Support Topics) para notificarnos si experimenta algún problema con la red o para verificar si hay algún problema conocido en s u área. Ingrese su ubicación, seleccione el tipo de problema de servicio y le proporcionaremos una actualización del estado en tiempo real.
Más información
Visite el Centro de recursos de emergencia en línea de Verizon, verizon.com/about/news/emergency-resource-center, para obtener más detalles sobre las capacidades de respuesta de emergencia de Verizon.
The 2024 IADC Nigeria Chapter HSE Awards and Technical Session was held on 13 September. Chapter Chairman Mr. Chuks Enwereji discussed workplace stress during the event’s safety moment. He then delivered an update on the state of the Nigeria Oil & Gas industry, providing valuable insights into the current landscape.
A special mention was given to the Petroleum Training Institute (PTI) IADC Student Chapter, the first of its kind in Nigeria. The chairman celebrated the presence of students from the PTI Student Chapter, recognizing the importance of nurturing future talent. Since its inception, the PTI IADC Student Chapter has organized several initiatives, including technical sessions and inter-level drilling quiz competitions, demonstrating their passion for industry excellence. The PTI Student Chapter extended its deepest gratitude to both IADC Headquarters and the IADC Nigeria Chapter for their continuous support.
Guest speakers delivered thought-provoking presentations. Mrs. Ihuoma Okorie, CEO of Clintas Energy Resources Limited, addressed the critical topic “Competency Training in the Oil & Gas Industry.” Engr. Mercy Ntuk, HSSE Lead at Unitech Drilling Company Limited, followed with an engaging session on the topic “Developing and Sustain Competency in Critical Roles.”
The Chapter honored Member companies that actively participated in the 2023 Incident Statistics Program (ISP), with their reports meticulously analyzed by the HSE Committee. A total of ten companies submitted their 2023 reports, and after careful review, Shelf Drilling Offshore Services Limited emerged as the top performer for their exemplary safety practices. The following companies were recognized:
Aviam Offshore Engineering Company Limited
Charlvon Limited
Depthwize Nigeria Limited
Geoplex Drillteq Limited
Ocean Deep Drilling ESV Nigeria Limited
Pacific International Drilling West Africa Limited
Selective Marine Oil and Gas Limited
OES Energy Services
Unitech Drilling Company Limited
Shelf Drilling Nigeria Limited
The 2024 HSE Awards & Technical Session was a resounding success, bringing together key industry stakeholders, government and regulatory agencies, and directors of Member companies. It was a vibrant and interactive event filled with enriching presentations, valuable insights, and a strong sense of collaboration within the industry.
Source: International Association of Drilling Contractors – IADC
Headline: IADC South Central Asia Chapter & ONGC Organize 8th Drilling Operations Incident Review Committee Meeting
The IADC South Central Asia (SCA) Chapter and the Oil and Natural Gas Corporation (ONGC) hosted the 8th Drilling Operations Incident Review Committee (DOIRC) meeting on 24 August. This was the second event with an integrated Onshore and Offshore focus, and it was held at NBP Green Heights in Mumbai.
The event witnessed active participation from over 280 attendees of different companies, including 130 online participants from offshore and onshore E&P installations in the Indian subcontinent. Attendees included leaders and key executives from ONGC, drilling companies, and other organizations, demonstrating a shared commitment to safety in drilling operations across the region.
The safety moment by the HSE Manager of Greatship emphasized the role of human factors in incidents and highlighted the importance of compliance with safety management systems and procedures in the workplace.
DOIRC Chairman Shri VV Prasad expressed his gratitude to IADC SCAC Chairman & Director (T&FS) ONGC Shri OP Singh for his continuous guidance and support in establishing DOIRC as a structured platform for engagement and collaboration on safety issues in the Indian Drilling Industry. He emphasized that the goal of zero incidents is achievable when safety becomes a shared responsibility.
In his inaugural address, Sh. O.P. Singh appreciated the continuous efforts made by IADC in collaboration with ONGC to create a safe culture and a safe work environment. A more efficient work environment can be achieved by integrating the guiding principles of the Five M’s –Men, Machine, Material, Method, and Management. He emphasized that digitalization plays a pivotal role in the transformation to latest technologies. The industry needs to support a digital safety culture, enhancing its safety protocols and being prepared for future challenges.
The Head of HSE ONGC Mumbai presented an action taken report on previous DOIRC recommendations, their compliance status along with initiatives taken, milestones achieved, and HSE statistics for Quarter-1 of FY 2024-25.Eight incidents from the last quarter were presented by respective rig managers, sharing their root cause analysis learnings from these incidents and corrective actions implemented.
In his concluding address, Chief of HSE at ONGC advised that the learnings from the incidents discussed at DOIRC should be effectively communicated and implemented across all ONGC installations.
Mr. Narendra Jindal, Vice chairman of IADC SCA Chapter & Country – Head of Operations at Shelf Drilling, offered the closing remarks and vote of thanks.
This morning, Co-founder and CEO of Google DeepMind and Isomorphic Labs Sir Demis Hassabis, and Google DeepMind Director Dr. John Jumper were co-awarded the 2024 Nobel Prize in Chemistry for their work developing AlphaFold, a groundbreaking AI system that predicts the 3D structure of proteins from their amino acid sequences. David Baker was also co-awarded for his work on computational protein design.
Before AlphaFold, predicting the structure of a protein was a complex and time-consuming process.
AlphaFold’s predictions, made freely available through the AlphaFold Protein Structure Database, have given more than 2 million scientists and researchers from 190 countries a powerful tool for making new discoveries. The AlphaFold 2 paper, published in 2021, remains one of the most-cited publications of all time.
Artificial Intelligence (AI) has long shown incredible potential for use in scientific research, and AlphaFold was proof-of-concept. As more scientists adopt AI for use in everything from building data, to simulating experiments, drug design, modelling complexity, discovering novel solutions for extant problems, and building upon existing knowledge, we will continue to see foundational scientific breakthroughs in the years ahead.
In a statement released after informed of the news, Demis Hassabis said:
“Receiving the Nobel Prize is the honour of a lifetime. Thank you to the Royal Swedish Academy of Sciences, to John Jumper and the AlphaFold team, the wider DeepMind and Google teams, and to all my colleagues past and present that made this moment possible. I’ve dedicated my career to advancing AI because of its unparalleled potential to improve the lives of billions of people. AlphaFold has already been used by more than two million researchers to advance critical work, from enzyme design to drug discovery. I hope we’ll look back on AlphaFold as the first proof point of AI’s incredible potential to accelerate scientific discovery.”
After receiving the news that he won the Nobel Prize, John Jumper released the following statement:
“Thank you to the Royal Swedish Academy of Sciences for this extraordinary honor. We are so honored to be recognized for delivering on the long promise of computational biology to help us understand the protein world and to inform the incredible work of experimental biologists. It is a key demonstration that AI will make science faster and ultimately help to understand disease and develop therapeutics. This is the work of an exceptional team at Google DeepMind and this award recognizes their amazing work.
Computational biology has long held tremendous promise for creating practical insights that could be put to use in real-world experiments. AlphaFold delivered on this promise. Ahead of us are a universe of new insights and scientific discoveries made possible by the use of AI as a scientific tool. Thank you to my colleagues over the years, for making possible this moment of recognition, as well as the many moments of discovery that lie ahead.”
Source: African Development Bank Group In a farming community located in the south-central Democratic Republic of Congo, Dorcas Tshabu is turning a childhood dream into a reality. Situated 20 kilometers from the city of Mbuji-Mayi, Dorcas has transformed what was once a savanna into a flourishing forest with her hands and determination.
Source: International Association of Drilling Contractors – IADC
Headline: Houston Chapter Raises Money for Scholarships at 36th Annual Golf Tournament
Tickets were sold out for the recent IADC Houston Chapter 36th Annual Scholarship Golf Tournament. On 13 September, Members headed to the Cypresswood Golf Club to tee up for a great cause – raising money for scholarship recipients. It was an outstanding event, filled with lots of camaraderie, fun, and great food!Thank you to everyone who attended & supported this event.
The 2024 IADC Nigeria Chapter HSE Awards and Technical Session was held on 13 September. Chapter Chairman Mr. Chuks Enwereji discussed workplace stress during the event’s safety moment. He then delivered an update on the state of the Nigeria Oil & Gas industry, providing valuable insights into the current landscape.
A special mention was given to the Petroleum Training Institute (PTI) IADC Student Chapter, the first of its kind in Nigeria. The chairman celebrated the presence of students from the PTI Student Chapter, recognizing the importance of nurturing future talent. Since its inception, the PTI IADC Student Chapter has organized several initiatives, including technical sessions and inter-level drilling quiz competitions, demonstrating their passion for industry excellence. The PTI Student Chapter extended its deepest gratitude to both IADC Headquarters and the IADC Nigeria Chapter for their continuous support.
Guest speakers delivered thought-provoking presentations. Mrs. Ihuoma Okorie, CEO of Clintas Energy Resources Limited, addressed the critical topic “Competency Training in the Oil & Gas Industry.” Engr. Mercy Ntuk, HSSE Lead at Unitech Drilling Company Limited, followed with an engaging session on the topic “Developing and Sustain Competency in Critical Roles.”
The Chapter honored Member companies that actively participated in the 2023 Incident Statistics Program (ISP), with their reports meticulously analyzed by the HSE Committee. A total of ten companies submitted their 2023 reports, and after careful review, Shelf Drilling Offshore Services Limited emerged as the top performer for their exemplary safety practices. The following companies were recognized:
Aviam Offshore Engineering Company Limited
Charlvon Limited
Depthwize Nigeria Limited
Geoplex Drillteq Limited
Ocean Deep Drilling ESV Nigeria Limited
Pacific International Drilling West Africa Limited
Selective Marine Oil and Gas Limited
OES Energy Services
Unitech Drilling Company Limited
Shelf Drilling Nigeria Limited
The 2024 HSE Awards & Technical Session was a resounding success, bringing together key industry stakeholders, government and regulatory agencies, and directors of Member companies. It was a vibrant and interactive event filled with enriching presentations, valuable insights, and a strong sense of collaboration within the industry.
Source: International Association of Drilling Contractors – IADC
Headline: IADC South Central Asia Chapter & ONGC Organize 8th Drilling Operations Incident Review Committee Meeting
The IADC South Central Asia (SCA) Chapter and the Oil and Natural Gas Corporation (ONGC) hosted the 8th Drilling Operations Incident Review Committee (DOIRC) meeting on 24 August. This was the second event with an integrated Onshore and Offshore focus, and it was held at NBP Green Heights in Mumbai.
The event witnessed active participation from over 280 attendees of different companies, including 130 online participants from offshore and onshore E&P installations in the Indian subcontinent. Attendees included leaders and key executives from ONGC, drilling companies, and other organizations, demonstrating a shared commitment to safety in drilling operations across the region.
The safety moment by the HSE Manager of Greatship emphasized the role of human factors in incidents and highlighted the importance of compliance with safety management systems and procedures in the workplace.
DOIRC Chairman Shri VV Prasad expressed his gratitude to IADC SCAC Chairman & Director (T&FS) ONGC Shri OP Singh for his continuous guidance and support in establishing DOIRC as a structured platform for engagement and collaboration on safety issues in the Indian Drilling Industry. He emphasized that the goal of zero incidents is achievable when safety becomes a shared responsibility.
In his inaugural address, Sh. O.P. Singh appreciated the continuous efforts made by IADC in collaboration with ONGC to create a safe culture and a safe work environment. A more efficient work environment can be achieved by integrating the guiding principles of the Five M’s –Men, Machine, Material, Method, and Management. He emphasized that digitalization plays a pivotal role in the transformation to latest technologies. The industry needs to support a digital safety culture, enhancing its safety protocols and being prepared for future challenges.
The Head of HSE ONGC Mumbai presented an action taken report on previous DOIRC recommendations, their compliance status along with initiatives taken, milestones achieved, and HSE statistics for Quarter-1 of FY 2024-25.Eight incidents from the last quarter were presented by respective rig managers, sharing their root cause analysis learnings from these incidents and corrective actions implemented.
In his concluding address, Chief of HSE at ONGC advised that the learnings from the incidents discussed at DOIRC should be effectively communicated and implemented across all ONGC installations.
Mr. Narendra Jindal, Vice chairman of IADC SCA Chapter & Country – Head of Operations at Shelf Drilling, offered the closing remarks and vote of thanks.
Source: International Association of Drilling Contractors – IADC
Headline: Washington, D.C., Updates for October 2024
U.S. House of Representatives Passes Key Legislation Before Campaign Season
Congress overwhelmingly passed a funding bill last week to avert a government shutdown on September 30th, the end of the U.S. government’s fiscal year. The spending package, negotiated by the House and Senate, would fund the government at current levels through December 20, 2024, setting up another spending fight right before the holidays. The House and Senate have adjourned and will not return to the Capitol until after the elections in November.
But before they headed back to their districts and states for the final campaign stretch, the House of Representatives approved a number of energy, environment and natural resources bills that will see Senate action when they return.
The House advanced H.R. 7073, the “Next Generation Pipelines Research and Development Act,” by a vote of 373-41. The bill, out of the Science, Space and Technology Committee, would increase federal research and collaborations related to pipelines.
During floor debate, bipartisan members heralded the importance of improving aging pipelines that are becoming more prone to malfunction and leaks.Sponsor Representative Randy Weber (R-Texas) said the bill would help the Department of Energy adopt a “new and more modern approach to pipeline research development.”Rep. Zoe Lofgren (D-Calif.), the Science Committee’s ranking member, called the bill “much-needed harm-reduction legislation.”
The House also advanced H.R. 7370, the “Geothermal Energy Opportunity Act,” from Rep. John Curtis (R-Utah). The bill would establish a deadline for the Interior Department to process geothermal power project applications.
The House even cleared firebrand Rep. Alexandria Ocasio-Cortez’s H.R. 7422, the “Geothermal Cost-Recovery Authority Act,” so the Interior Department can seek reimbursement from companies to offset the cost of permitting and hire third-party experts to review permits.“At a time when permitting is a contentious word in Washington, this bill shows that both parties can come together around common-sense approaches,” Ocasio-Cortez said.
Also passed was H.R. 6474, from Rep. Michelle Steel (R-Calif.), which would expedite permitting for geothermal projects in regions with recent energy development or environmental impact studies.
And a final bill was passed, H.R. 5509, the “Electronic Permitting Modernization Act,” from Rep. Katie Porter (D-Calif.), which would require the Interior Department to modernize its electronic permitting system and expand online options for permits.
A detailed report written independently by the WTO Secretariat.
Government report
A policy statement by the government of the member under review.
From the meeting
The Secretariat and Government reports are discussed by the WTO’s full membership in the Trade Policy Review Body (TPRB).
Concluding remarks
Background
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country’s size.
Headline: Thales to supply handheld thermal imagers to the Canadian Army
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The Thales Sophie Ultima long-range handheld thermal imagers have been selected by the Canadian Armed Forces, the first contract awarded under Canada’s Night Vision Systems Modernization (NVSM) project.
Manufactured and maintained in Canada, the Sophie Ultima will enhance operational capabilities for the Canadian Army with advanced technology and resilient navigation.
This contract award further affirms Thales’ commitment to Canada with significant local industrialization, skills development and training in Quebec.
Thales Canada is pleased to announce that the Government of Canada has awarded a contract to Thales Canada for the acquisition of its Sophie Ultima Handheld Thermal Imager (HHTI) as part of the Night Vision Systems Modernization (NVSM) project. This award marks an important advancement in Canada’s defence capabilities, ensuring that the Canadian Armed Forces (CAF) are equipped with cutting-edge technology designed to excel in complex and challenging operational environments.
The Sophie Ultima, a lightweight, handheld thermal imager, is engineered to deliver extraordinary performance in the field. With a high performance infrared channel, it offers NATO tank recognition range performance of up to 6 kilometres. The continuous optical zoom and wide 20° field of view enable operators to maintain visual contact with targets during detection, recognition, and identification phases, ensuring rapid and precise engagement.
Thales will manufacture and maintain the Sophie Ultima at its existing Canadian Electro-Optics Center of Excellence, further strengthening Canada’s defence industrial base. This initiative will create new jobs and spur economic growth, expanding Thales’s current supply chain within Canada. In addition, the Thales Optronics facility in Montreal will provide comprehensive in-service support, ensuring that the Canadian Armed Forces benefit from a dedicated repair facility with rapid turnaround, reducing equipment downtime.
“Thales is committed to delivering advanced, reliable, and locally supported solutions like the Sophie Ultima,” said Benoit Plantier, Vice President, Optronics, Missile Electronics and Unmanned Air Systems, Thales.
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.
About Thales Canada
A Canadian leader in research and technology, Thales Canada combines over 50 years of experience with the talent of over 1,300 skilled people from coast-to-coast. Thales Canada offers leading capabilities in the defence, civil aviation, digital identity and security sectors – meeting the most complex needs and requirements of its customers across all operating environments.
This new contribution will support developing economies and LDCs in deepening their understanding of WTO agreements and strengthening their ability to engage in trade negotiations at the WTO.
The United States Ambassador to the WTO, María Pagán, said: “The United States is committed to supporting capacity building activities that strengthen local communities through inclusive, sustainable, and resilient economic growth. Our longstanding commitment to the Global Trust Fund is an important element of our global effort toward supporting sustainable development. We value the work the WTO’s ITTC carries out under the Global Trust Fund and believe it is an excellent example of tangible collaboration and cooperation that supports implementation of the WTO framework of agreements.”
Welcoming this contribution, WTO Director-General Ngozi Okonjo-Iweala, said: “The longstanding and consistent support of the United States continues to play a vital role in making the WTO’s technical assistance work possible. By equipping government officials from our developing members and observers better use global trade opportunities, these capacity building activities ultimately lead to better livelihoods for their citizens. We appreciate this generous donation to the Global Trust Fund.”
To date, nearly 3,000 activities have been organized under the Global Trust Fund over the past two decades.
Director-General Okonjo-Iweala said: “I warmly welcome Ecuador’s formal acceptance of the Agreement on Fisheries Subsidies. As one of the largest tuna exporters in the world and the proud steward of the Galapagos islands, Ecuador stands to gain immensely from this global commitment to curb harmful fisheries subsidies. This Agreement will not only preserve marine biodiversity but will also secure long-term economic opportunities for the nation.”
Ambassador Valencia said: “It is an honour to present, on behalf of Ecuador, the instrument of acceptance of the Agreement on Fisheries Subsidies, the first WTO instrument that promotes trade regulations while considering the sustainability of the oceans. The acceptance of this Agreement reaffirms Ecuador’s and its government’s firm commitment to promoting the achievement of Sustainable Development Goal 14.6, protecting the life cycles of marine populations, improving the living conditions of citizens who depend on fishing activities—particularly the most economically vulnerable communities—and promoting transparency by prohibiting subsidies to harmful activities such as illegal, unreported, and unregulated fishing.”
Ecuador’s instrument of acceptance brings to 84 the total number of WTO members that have formally accepted the Agreement. Twenty-seven more formal acceptances are needed for the Agreement to come into effect. The Agreement will enter into force upon acceptance by two-thirds of the membership.
Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12), held in Geneva on 12-17 June 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world’s fish stocks. In addition, the Agreement recognizes the needs of developing economies and least-developed countries and establishes a fund to provide technical assistance and capacity building to help them implement the obligations.
The Agreement prohibits subsidies for illegal, unreported and unregulated (IUU) fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to adopting additional provisions that would further enhance the disciplines of the Agreement.
The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here. Information for members on how to accept the Protocol of Amendment is available here.
Headline: DDG Ellard urges swift action on fisheries subsidies to aid Pacific sustainability goals
Thank you, and good afternoon, distinguished excellencies and to all.
I appreciate the invitation to engage with you on the pressing environmental challenges confronting the Pacific region, and how a multilateral approach can help tackle those challenges and foster sustainable solutions.
Severely affected by the triple planetary crisis of climate change, biodiversity loss, and pollution, the Pacific Islands have a unique understanding of how trade and trade policy can contribute to addressing these challenges. And that’s why I’m so pleased that this discussion is taking place at the WTO.
Trade is vital for climate adaptation and resilience, because it facilitates the development and dissemination of adaptation technologies, improves access to essential goods and services during climate shocks, and fosters synergies between climate finance and trade aid to bolster supply chains and trade-related infrastructure.
The participation and leadership of the Pacific Islands at the WTO in addressing environmental challenges is commendable, including through Fiji’s role as a co-coordinator of the Dialogue on Plastics Pollution and Environmentally Sustainable Plastics Trade (DPP).
I encourage you to continue bringing forward your interests in the Committee on Trade and Environment, as well as in other environmental initiatives at the WTO to ensure that trade policy supports your adaptation and energy transition efforts.
Let me now turn to the issue of fisheries subsidies.
I visited the Pacific in 2022 just as two important and complementary events coincided:
the adoption of the Agreement on Fisheries Subsidies at MC12, and
the adoption of the 2050 Strategy for the Blue Pacific Continent by the Pacific Islands Forum Leaders.
There are many synergies between these two historic achievements, paving the way toward a sustainable, prosperous, and resilient Pacific region.
As the 2050 Strategy underscores, the Pacific islands countries are the custodians of nearly 20% of the earth’s surface, including vast swaths of ocean. During my visits to the Pacific, I have witnessed firsthand how the ocean is central not only to the economies of the region, but also to the core identity of its people. Therefore, it is particularly fitting that, through the 2050 Strategy, all Pacific governments have committed to collective action to improve the health of the ocean and prevent the over-exploitation of its resources.
As we know, the Western and Central Pacific Ocean is home to one of the world’s largest fisheries, supplying more than half of the world’s tuna from predominantly sustainable stocks. However, the sustainability of fishery resources in the Pacific and worldwide, is threatened by harmful subsidies, which total around USD 22 billion annually.
The WTO Agreement on Fisheries Subsidies is a decisive response to these challenges. It prohibits subsidies to vessels involved in illegal, unreported, and unregulated (IUU fishing), and to fishing in the unregulated high seas. It also restricts subsidies for activities affecting overfished stocks, unless they are implemented to rebuild the stocks to a biologically sustainable level. By enhancing transparency and enforcing these rules, the Agreement promises significant benefits for fishing communities across the region, aligning with the Blue Pacific Strategy.
However, this potential will be realized only when the Agreement enters into force, which requires ratification by 2/3 of our 166 Members. To date, we have received 83 out of the 111 instruments of acceptance, and our goal is to hit the required target by the end of the year. The process for acceptance is well under way in many WTO Members, and I strongly urge those who have not yet ratified – including in the Pacific, where fisheries are so vital – to do so as soon as possible.
I should emphasize that ratification unlocks access to the technical assistance and capacity-building from the WTO Fish Fund. We have more than USD 12 million in the bank, in addition to resources provided by the FAO and the World Bank, our partners in the Fund. This Fund will help developing and LDC Members implement the Agreement and improve their fisheries management – the Fund demonstrates the commitment to work closely with developing Members and LDCs every step of the way.
But we know our negotiating work is not done. I encourage Members to constructively engage on the ongoing negotiations on fisheries subsidies contributing to overcapacity and overfishing – Fish 2 – which, together with Fish 1, would constitute comprehensive disciplines to fully meet UN SDG 14.6. As you know, although WTO Members have not reached an agreement on these provisions yet, they did make significant progress, and we are very close. The four-year sunset clause in Fish 1, initially proposed by the Pacific region, creates a powerful incentive to conclude these negotiations quickly.
While the current text may not be ideal or perfect for all, most developing and developed Members believe that it would improve the status quo, perhaps with a few adjustments that are well socialized with the Membership.
The latest version of the new disciplines circulated by the Chair of the negotiations is a balanced approach. On one hand, it contains strong disciplines on the largest fishers and subsidizers, as well as those engaged in distant water fishing.
On the other hand, the text exempts small-scale and artisanal fishing from its disciplines, as well as least developed Members and small fishing nations. It also includes a review clause to assess the effectiveness of disciplines, with the possibility to amend the Agreement later.
Sustainable fisheries are crucial for the livelihoods of those who depend on them. The adoption and entry into force of both WTO fisheries agreements will therefore go a long way to helping Pacific nations fulfil the commitments in 2050 Strategy.
I know we can count on the Pacific and all Members for their continued deep and earnest engagement. At this point, concluding Fish 2 will require significant commitment at the highest political level, to complete negotiations on Fish 2, and to ensure the ratification and entry into force of Fish 1. And so much is at stake, for our ocean, the fish, and those whose livelihood depends on them. Whether we can finish our work is completely in Members’ – your – hands.
Thank you.