Headline: ICC and IE University expand partnership to strengthen multilateralism
Leveraging the unique networks of both institutions across the private sector, academia, and the multilateral system, the “Rethinking Multilateralism: A New Role for the Private Sector” project aims to promote pragmatic and inclusive pathways to respond to global challenges.
The growing threat of fragmentation, the need to secure over US$1 trillion of sustainable finance to meet the Paris Agreement and rising trade frictions present major global challenges. Rethinking the role of multilateralism in addressing these global issues and advancing sustainable development goals is more urgent than ever.
ICC Secretary General, John W.H. Denton AO said:
“International organisations need to realise that the private sector has so much more to offer beyond funding in efforts to advance sustainable development and prosperity around the world. We know things can be done better, so now we need to find practical ways to make change happen.”
The “Rethinking Multilateralism” project, led by an ICC-IE Steering Committee, will provide insights and capacity-building opportunities. The two partners believe that tackling global challenges requires the private sector as a true partner in multilateral efforts, with stronger collaboration across sectors capable of delivering practical solutions.
IE University Provost Manuel Muñiz said:
“IE University, as a catalyst for change, aims to strengthen the private sector’s role in multilateralism through this project with ICC, fostering an inclusive, pragmatic model that leverages innovation and knowledge to address global challenges and drive sustainable development.”
Since 2019, ICC and IE University have developed a range of programming together, including executive master’s programmes, field trips to the ICC Court of Arbitration and ICC Global Headquarters in Paris, and capstone projects for students.
About IE University
IE University promotes positive change through education, research, and innovation. It offers a technology-based learning ecosystem for leaders with a global vision, an entrepreneurial mindset, deep respect for diversity and sustainability, and a unique focus on the humanities. IE University is comprised of six schools: IE Business School, IE Law School, IE School of Politics, Economics and Global Affairs, IE School of Architecture and Design, IE School of Science and Technology, and IE School of Humanities. The institution has a faculty of more than 500 professors who produce high-quality research and teach students from 160 countries in Bachelors, Masters and Executive Education programs. IE University’s platform of more than 82,000 alumni is present in 185 countries.
In accordance with the regulatory requirements in force, Caisse Française de Financement Local announces that the French version of the report on asset quality as of December 31, 2024 was filed with the Autorité de contrôle prudentiel et de résolution (ACPR) and that it can be obtained from its website: https://caissefrancaisedefinancementlocal.fr/investisseurs/publications/ (heading: Rapport sur la qualité des actifs). The English version of the report on asset quality as of December 31, 2024 can be obtained from its website: https://caissefrancaisedefinancementlocal.fr/en/investor/publications/ (heading: Report on asset quality).
Today, NNIT releases its preliminary financial key figures for 2024, the financial outlook for 2025 and announces an adjustment of the group’s financial aspirations.
Preliminary financial figures for 2024 Based on unaudited financial figures, NNIT delivered results in line with the latest outlook for organic growth of around 6-7% and group operating profit margin excluding special items of 6-7%. Group revenue amounted to DKK 1,851m corresponding to organic growth of 6.0% and reported growth of 7.1%. Group operating profit excluding special items was DKK 117m equating to a margin of 6.3%. Special items amounted to DKK 69m.
Financial outlook for 2025 Although market conditions and the geopolitical landscape have become more uncertain, NNIT expects to continue growing its underlying business across the Life Science, Public and Private verticals in 2025. Organic growth is expected to be 7-10% with profitability anticipated to increase driven by top line growth, improving billability and cost optimization. The group operating profit margin excluding special items is expected to be 7-9%. Special items are anticipated to be at a lower level than 2024.
Financial aspirations adjusted NNIT remains committed to its strategic direction of becoming a pure-play IT consultancy company with strong positions in globally attractive markets and ample opportunities to profitably grow its business.
NNIT adjusts its financial mid-term aspirations based on lower-than-initially-expected financial performance in 2024, the impact on expectations for 2025 and beyond from continued macroeconomic and geopolitical uncertainty combined with a significant downgrade of the market outlook for the Life Science industry1 from around 8% CAGR in 2023-2026 to around 5% CAGR in 2024-2028. For the mid-term strategy period 2025-27, NNIT aspires to deliver profitable growth with annual organic revenue growth between 7 to 10%, and an operating profit margin before special items above 10% in 2027.
NNIT will release its Annual Report 2024 on February 18, 2025, and host a webcast on the following day as planned.
1Source: Gartner data from 2023 and latest data from Everest Group, November 2024
For more information, please contact: Investor Relations Carsten Ringius EVP & CFO Tel: +45 3077 8888 carr@nnit.com
Media Relations Sofie Mand Steffens Senior Communications Consultant Tel: +45 3077 8337 smst@nnit.com
ABOUT NNIT NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.
We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.
We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.
We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.
NNIT consists of group company NNIT A/S and the subsidiary SCALES. Together, these companies employ more than 1,700 people in Europe, Asia and USA.
edian income has risen, the impact of inflation has slackened, and more Oregonians are saving for retirement and college, according to the 2025 Oregon Financial Wellness Scorecard, released today by the Oregon State Treasury.
However, the data also show that many Oregonians are in a precarious financial position, and are ill-equipped to weather even a modest economic shock:
A majority of families say it’s difficult make ends meet each month, especially families with children at home;
Almost half of Oregonians are so financially fragile that they do not have $500 saved to cover an unexpected expense; And
More than a third of households can’t afford to save at all, after bills are paid each month – and the frequency of saving declined markedly in households with children where income was less than $75,000
Those are some of the more than 40 takeaways from the annual scorecard, which assembles data from state and federal sources including a statewide survey to help policymakers and the public better understand how pocketbook and economic factors affect Oregonians’ quality of life.
The new summary – which shows both positive and concerning trendlines — is compiled by the Oregon State Treasury in partnership with the Oregon Financial Empowerment Advisory Team, a public-private partnership for which State Treasurer Elizabeth Steiner serves as chair.
“The latest financial snapshot shows that Oregonians work hard, which is leading to higher incomes for many people,” said State Treasurer Steiner. “Innovative Oregon State Treasury programs such as OregonSaves are helping more people set aside money for retirement. But too many people and families barely get by each month. At Treasury, we’ll continue to promote financial empowerment and explore new tools to help Oregon families get ahead and thrive financially.”
Among the positive data points: More Oregonians were medically insured in 2023, and the latest data on retirement saving from the U.S. Census showed that more Oregon households were saving in 2022, and at a frequency higher than the national average.
Also, notably, Oregon household borrowing dipped slightly overall in 2023, according to data from the Federal Reserve.
Financial fragility — which describes the ability of people to handle an economic emergency — was substantially worse for women, for those with a high school education or less, and for families with children at home.
Overall, about half of Oregon households (49%) could not cover an emergency costing $500 or more from savings.
The Scorecard statistics are benchmarked to national figures. Several data categories are also broken down by demographics, by county, or by rural versus urban areas, helping to show that Oregonians experience financial challenges differently.
For instance, in rural counties homeownership rates are higher and so is the percentage of households who rely on public assistance. Some figures are also broken down by age, race, level of education and household income.
Convened to help guide efforts to improve financial wellness statewide, the Oregon Financial Empowerment Advisory Team brings together citizens, representatives of the financial sector, and liaisons from key state agencies that focus on financial education and consumer protection. Quarterly meetings are open to the public.
The advisory team also connects the public to financial resources in partnership with Oregon’s 211info network, and recognizes standout educators and champions annually with the Oregon Financial Empowerment Awards. Nominations are being accepted until March 1.
The Treasury Financial Empowerment Initiative helps inform the work of the Oregon Treasury Savings Network, which administers savings programs to help Oregonians to build long term financial security. Those are the Oregon College Savings Plan, for higher education and career training; Oregon ABLE Savings Plan, for disability-connected costs; and OregonSaves, which allows people to save for retirement if they don’t have a plan at work.
Minister Loewen will attend the Western Hunting and Conservation Expo in Salt Lake City, Utah from Feb. 13-17. While in Utah, Minister Loewen and his team will connect with outdoor enthusiasts from around the world to promote the auction of Minister’s Special Licences for elk, mule deer, moose, pronghorn, cougar, whitetail deer and turkey.
The auction will take place in Salt Lake City, Utah from Feb. 15 to 16. Funds raised from the auction will be used within Alberta to support conservation initiatives and the management of big game species.
The recipients of the Minister’s Special Licence will be eligible to hunt year-round for one animal of the species associated with their tag from a Wildlife Management Area that has an existing hunting season for the species.
“Alberta is a world-class destination for hunting, fishing and countless other outdoor experiences. We have the most beautiful backyard in the world and I’m proud to promote our province’s visitor economy while also raising support for conservation initiatives across the province.”
The minister will be joined by three government staff members. Mission expenses will be posted on the travel and expense disclosure page.
Itinerary for Minister Loewen
Feb. 13
Travel to Salt Lake City, Utah.
Feb. 13 – 16
Attend the Western Hunting and Conservation Expo.
Meetings with stakeholders.
Attend Auction Banquet.
Feb. 17
Return to Alberta.
*Subject to change.
Quick facts
The Minister’s Special Licence was created in 1995 and offers a unique opportunity each year for non-resident and resident hunters, via auction and raffle, to hunt certain game species with enhanced season lengths and an expanded hunting area.
Eight Minister’s Special Licenses will be sold at auction in 2025, each valid for a different game species.
Last year, the Minister’s Special License program raised more than $1.2 million, supporting conservation projects in Alberta.
The holder of the Minister’s Special Licence is required to follow all applicable legislation, regulations, and municipal by-laws – including weapons use restrictions.
Co-founder Eyal Orgil Transitions to Chief Product Officer; Gilad Zubery Appointed Chief Revenue Officer
AUSTIN, Texas, Feb. 11, 2025 (GLOBE NEWSWIRE) — DealHub.io, the leading Revenue AI platform, today announced a strategic leadership transition to drive its next phase of growth and innovation. Co-founder and Chief Revenue Officer, Eyal Orgil, will assume the role of Chief Product Officer, focusing on advancing the company’s product vision and development. Stepping into the CRO role is Gilad Zubery, a seasoned leader experienced in building and leading global GTM teams. Zubery comes to DealHub after holding executive leadership positions at Clicktale and Contentsquare.
In his new role, Eyal will lead DealHub’s product strategy to deliver advanced solutions that empower Revenue leaders to navigate evolving sales motions and diverse revenue streams. Under his leadership, DealHub will accelerate its investment in AI to streamline revenue orchestration, optimize deal execution, and enhance predictive insights, helping organizations stay ahead in their multifaceted sales landscape.
“Eyal’s vision for product innovation has been instrumental in building DealHub into the industry leader it is today. His deep understanding of sales processes and extensive sales leadership experience uniquely position him to drive the development of best in class revenue solutions and ensure our continued leadership in the Revenue AI market,” said Eyal Elbahary, CEO of DealHub. “I’m thrilled to welcome Gilad Zubery to the team. His extensive background in leading high-performing global GTM teams and scaling organizations makes him the ideal leader to drive DealHub’s next phase of accelerated growth.”
Gilad will leverage his extensive international experience to spearhead DealHub’s globalgo-to-market strategy and expand its presence in key markets. With his expertise in partner ecosystems, business development, sales and global expansion, Gilad will play a pivotal role in propelling DealHub’s growth and market leadership.
“I am thrilled to be joining DealHub at such an exciting time for the company,” said Zubery. “DealHub’s innovative approach to Revenue AI is transforming how businesses manage their entire sales-to-revenue operations, and I’m looking forward to building on our existing success to take the company to even greater heights.”
This intelligent flow drives revenue execution from new business to renewed customers without delays and errors, ensuring a superior buyer experience across all revenue streams.
For more information, users can visit dealhub.io or follow DealHub on LinkedIn.
EDEN PRAIRIE, Minn., Feb. 11, 2025 (GLOBE NEWSWIRE) — BWT Alpine Formula One Team announces a partnership with Arctic Wolf, a global leader in Security Operations, Arctic Wolf becomes the Official Cybersecurity Partner of BWT Alpine Formula One and will implement its industry-defining security operations platform, including the newly launched Aurora Endpoint Security, into the team’s global security and technology infrastructure.
The partnership between Arctic Wolf and BWT Alpine Formula One Team is forged on a mutual commitment to precision and speed. Each week, the Arctic Wolf Aurora Platform, powered by Alpha AI™, processes over seven trillion security events to deliver security outcomes with the scale and precision necessary to ensure peak performance on and off the track.
Arctic Wolf branding will be featured on BWT Alpine Formula One Team’s car, the race suits of its roster of drivers and the wider team environment.
“The partnership between Arctic Wolf and BWT Alpine Formula One Team reflects a shared commitment to precision, speed, and the pursuit of excellence,” said Dan Larson, Chief Marketing Officer, Arctic Wolf. “The Arctic Wolf Aurora Platform and the newly launched Aurora Endpoint Security are built to help organizations ascend to new heights of cybersecurity and business resilience so that they can focus on what they do best, and for the BWT Alpine Formula One Team, that means going fast, pushing boundaries and achieving amazing results.”
“BWT Alpine Formula One Team is laser-focused on leveraging the competitive advantage that effective security operations provide in protecting our infrastructure from the factory to the racetrack and everywhere in between,” said Oliver Oakes, Team Principal, BWT Alpine Formula One Team. “Arctic Wolf’s unparalleled expertise and cutting-edge Aurora Platform will provide us with the confidence and protection necessary to safeguard our operations at every level, ensuring we can dedicate our full attention and energy to what matters most: winning races.”
Sports and entertainment organisations face unique cybersecurity challenges due to their dynamic environments, consumer-facing digital platforms, and mobile workforces. These factors make them prime targets for threat actors aiming to exploit vulnerabilities and steal sensitive data, including financial information, intellectual property, and personal details of employees and customers. Arctic Wolf understands these challenges deeply and is trusted by over 50 professional sports teams worldwide, including the Minnesota Wild (NHL), Meyer Shank Racing (IndyCar), the Minnesota Vikings (NFL), and the Parramatta Eels (NRL) to protect against threats and safeguard critical data.
For more information about Arctic Wolf and BWT Alpine Formula One Team’s global partnership, visit arcticwolf.com.
Additional Resources
About Arctic Wolf Arctic Wolf® is a global leader in security operations, enabling customers to manage their cyber risk in the face of modern cyber-attacks via a premier cloud-native security operations platform. The Arctic Wolf Aurora Platform ingests and analyzes more than seven trillion security events a week to help enable cyber defense at an unprecedented capacity and scale, empowering customers of virtually any size across a wide range of industries to feel confident in their security posture, readiness, and long-term resilience. By delivering automated threat protection, response, and remediation capabilities, Arctic Wolf delivers world-class security operations with the push of a button so customers can defend their greatest assets at the speed of data.
About BWT Alpine Formula One Team BWT Alpine Formula One Team competes in the FIA Formula One World Championship with Grand Prix race winner Pierre Gasly and Formula 1 rookie Jack Doohan, under the leadership of Team Principal Oliver Oakes and Executive Advisor Flavio Briatore. The team, bought by the Benetton Family in 1986, was moved to Enstone, Oxfordshire, in 1992 where it is still based today. Renault bought the Italian-run team in 2000 and rebranded as Alpine F1. The team has a winning legacy, having won the Formula One World Championship seven times, including the Drivers’ World Championship (1994, 1995, 2005 and 2006) with Michael Schumacher and Fernando Alonso, and the Constructors’ World Championship (1995, 2005 and 2006). The team’s most recent triumph came at the 2021 Hungarian Grand Prix, the 50th victory overall. The team finished the 2024 season strongly with two podium finishes and ended the year sixth place overall in the Constructors’ Championship.
The AlUla Conference for Emerging Market Economies is an annual economic policy conference, held in AlUla, Saudi Arabia, organized by the Ministry of Finance of Saudi Arabia and the IMF Regional Office in Riyadh. The conference will convene a select group of emerging markets’ ministers of finance, central bank governors, and policymakers, as well as public and private sector leaders, international institutions, and academia. It will offer a unique platform to exchange views on domestic, regional, and global economic developments and discuss policies and reforms to spur inclusive prosperity and build resilience supported by strong international cooperation.
The sessions with an asterisk (*) will be streamed live on this page.
Agenda
Day 1: February 16, 2025
09:30-09:40 – Opening remarks by H.E. Mohammed Al-Jadaan (Minister of Finance, Saudi Arabia) and Kristalina Georgieva (Managing Director, IMF) *
09:40-10:00 – Keynote Lecture: Emerging Markets Amid Structural Shifts in the World Economy
The keynote address will discuss global trends and their potential implications for emerging markets and developing economies (EMDEs), as well as the role of international cooperation.
Keynote Address: H.E. Pan Gongsheng (Governor, PBOC)
10:00-10:50 – Emerging Markets: Policy Challenges Amid Structural Shifts in the World Economy
The panel will delve into EMDEs’ policy challenges in the context of the rising uncertainty and the changing global economic landscape. Specifically, it will cover the implications for EMDEs of (i) more frequent external shocks; (ii) elevated uncertainty; and (iii) structural challenges in the context of high debt, weak growth, energy transitions, and new technologies.
Moderator: Jihad Azour (Director, Middle East and Central Asia Department, IMF)
Panelists:
H.E. Olayemi Cardoso (Governor, Central Bank of Nigeria)
José De Gregorio (Dean, School of Economics and Business, University of Chile)
H.E. Ali bin Ahmed Al Kuwari (Minister of Finance, Qatar)
Jin Liqun (President, Asian Infrastructure Investment Bank)
10:50-11:10 – Coffee break
11:10-12:10 – High Debt-Low Fiscal Space—Fiscal Consolidation and Multilateral Solutions to Debt Restructuring
Maintaining or restoring debt sustainability in EMDEs is a challenging task in the context of elevated debt, higher interest rate and weak potential growth, as well as significant spending pressures (e.g., related to sustainable development goals, defense, energy transitions, and economic diversification). The panelists will discuss the pace of the ongoing pivot towards fiscal consolidation and ways to garner support for politically difficult reforms. Potential debt restructuring mechanisms from both creditor and debtor perspectives will also be highlighted.
Moderator: Ryadh Alkhareif (IMFC Deputy, Saudi Arabia)
Panelists:
H.E. Mohammed Al-Jadaan (Minister of Finance, Saudi Arabia)
Mauricio Cárdenas (Professor, Columbia University, former Minister of Finance, Colombia)
H.E. Situmbeko Musokotwane (Minister of Finance and National Planning, Zambia)
H.E. Anton Siluanov (Minister of Finance, Russia)
12:10-13:00 – Lunch
13:00-14:00 – Monetary Policy and Capital Flows Amid Elevated Uncertainty
The session will discuss the path of future monetary policy in EMDEs, considering the spillovers from monetary policy in advanced economies and potential swings in global market sentiment, as well as the uncertainty around the implications for inflation, the neutral rate, and capital flows of the changing economic landscape.
Moderator: Pierre-Olivier Gourinchas (Economic Counsellor, Director of the Research Department, IMF)
Author: Hélène Rey (Professor, London Business School)
Discussants:
H.E. Fatih Karahan (Governor, Central Bank of the Republic of Türkiye)
H.E. Sethaput Suthiwartnarueput (Governor, Bank of Thailand)
14:00-15:00 – Resilience of the Financial System in Emerging Markets
The panel will focus on the implications of the changing global landscape for financial stability in emerging markets, as well as the policy priorities.
Moderator: Tobias Adrian (Director, Monetary and Capital Markets Department, IMF)
Panelists:
H.E. Ayman Mohammad Al-Sayari (Governor, SAMA)
H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani (Governor, Qatar Central Bank)
H.E. Taleh Kazimov (Governor, Central Bank of Azerbaijan)
H.E. Andriy Pyshnyi (Governor, National Bank of Ukraine)
19:30-21:30 – Dinner hosted by the Ministry of Finance of Saudi Arabia
Day 2: February 17, 2025
09:00-10:00 – Navigating Trade Tensions and Uncertainties
Against the backdrop of mounting risks and uncertainty, the session will discuss (i) how geoeconomic fragmentation and geopolitical risks are affecting trade and investment globally and in EMDEs; (ii) how EMDEs can adapt to these developments and mitigate risks; (iii) what policies to enhance trade and investment flows; and (iv) what changes to the current global trade system to respond to EMDEs’ needs.
Moderator: Indermit Gill (Chief Economist, World Bank Group)
Panelists:
H. E. Adebayo Olawale Edun (Minister of Finance, Nigeria)
H.E. Nadia Fettah (Minister of Economy and Finance, Morocco)
H.E. Sergii Marchenko (Minister of Finance, Ukraine)
10:00-11:00 – Productivity in EMDEs: Challenges and Opportunities
Compared with the pre-pandemic period, the medium-term growth outlook has worsened significantly, including in EMDEs. The projected slowdown jeopardizes income convergence and could also lead to widening income inequality within countries. Against this backdrop, the session will take stock of EMDEs’ growth outlook, including the main headwinds, and discuss the potential challenges and opportunities from shifts in the economic landscape (e.g., AI).
Moderator: H.E. Muhammad Al Jasser (President, Islamic Development Bank)
Author: Leslie Teo (Director, AI Products, AI Singapore; Former chief economist and head of investment strategy, GIC Singapore)
Discussants:
H.E. Faisal F. Alibrahim (Minister of Economy and Planning, Saudi Arabia)
Santiago Levy (Senior Fellow, Brookings)
H.E. Federico Sturzenegger (Minister of Deregulation and State Transformation, Argentina)
11:00-11:20 – Coffee break
11:20-12:20 – Closing Panel: A Path for Emerging Market Resilience *
The concluding panel will focus on (i) how EMDEs should deal with shocks in the short term, taking into consideration the persistence of some global shocks; (ii) identifying the main trade-offs for fiscal and monetary policymakers to build resilience, maintain stability and spur growth (“rise strong”); and (iii) how the underlying concerns behind “anti-globalization” pressures can be addressed to revitalize global economic integration.
Were you told that gold mining in southern Africa started after 1852? Or that the export of iron, steel, copper and gold began in the late 19th century? Or that South Africa became integrated into a global trading system only after 1652? Or that the first powerful state in South Africa was the Zulu kingdom?
If you learned that any of these things were true, you are like most South Africans, who have missed out on at least a thousand years of the country’s history.
Both radical and conservative historians have focused heavily on colonial history, a story starting at the Cape and playing out within colonial boundaries. As a result, South Africa’s past has been compressed into a shortened timeline and a limited geography. That shorter version is what’s taught at schools and universities.
If we abandon 1652 – when the first Dutch settlers arrived in the Cape – as the key historical starting point, and go back a thousand years and cast our gaze 2,000km north of Table Mountain, a very different story unfolds.
Our research is attempting to rethink South African history. As many years of work in the interior show, along with our new focus on a central southern African trading landscape, Thulamela, the formative steps in South Africa’s history began here, along the Limpopo River.
Early cooperative relationships
Two thousand years ago, San hunter gatherers were the primary occupants of the region around the Limpopo River valley, an area around the confluence of the Limpopo and Shashe rivers that includes Botswana, South Africa and Zimbabwe. Contrary to popular opinion, these groups weren’t living in isolated bands. They were connected through regional networks of exchange spanning hundreds, even thousands, of kilometres.
At this time, South Africa was on the brink of fundamental change. From about 350 AD, Bantu-speaking, iron-using, livestock-owning farmers began to settle the Soutpansberg, south of the Limpopo River. They initially established mainly cooperative relationships with the San, especially in hunting and trading.
These farmers introduced a key innovation into the region – the production of metal tools, weapons, currency and jewellery. These goods were for their own use and for expanding trade networks.
At the start, iron was the most important metal but over time, copper and gold became more and more significant. The farmers were skilled in locating and extracting these ores, which, in the case of gold and copper, often involved shaft mining. Metal production also demanded pyrotechnical knowledge to smelt ores and to fashion metals into functional and decorative forms.
Local trade, global connections
Another crucial development took place in the 7th century AD. The Indian Ocean world connected to the expanding regional trade networks which had linked the coast and the interior. The transoceanic sailors and traders were initially motivated by the growing demand for ivory in Asia and the Middle East.
This external demand brought exotic glass beads and cloth deep into the interior, through African traders and rulers. A node in the system was Chibuene, a large coastal trading settlement on the Mozambican coast near modern Vilanculos. From here, beads and cloth travelled south, to the vicinity of Durban in modern-day KwaZulu-Natal, South Africa, and across the interior, past the Okavango delta to places such as the Tsodilo hills west of the delta’s panhandle in Botswana.
Between the 10th and 15th centuries, the market for gold boomed – especially in Egypt, Persia, India and China. Southern Africa played an important role in meeting this demand because of the rich gold reserves of the Zimbabwe plateau and the adjacent region of the Limpopo valley.
So, it is clear that an economic and mineral revolution took place long before Europeans settled South Africa’s Cape. Colonial processes of globalisation and the mineral revolution in the 19th century trailed far in the wake of African involvement in the vast Indian Ocean economy through their hunting, mining, smelting and artisanal skills.
Rise of states
Indian Ocean trade contributed to major transformations in the interior. The wealth it generated led to social stratification and the emergence of a distinct ruling class. Leaders’ economic, political and spiritual power intensified. These processes found expression in the establishment in 1220 of Mapungubwe, in the middle Limpopo Valley, and the first state in southern Africa.
The little-known trading state, Thulamela, was located in the north of what’s now the Kruger Park. From 1250 to 1650 it was a key node of production and exchange. But for many decades the site was ignored. When intensive research finally started in the 1990s it made very limited progress in revealing the form and nature of the state. But renewed and interdisciplinary research at the site and surrounding areas has already produced new insights into the history of Thulamela and promises to generate many more in the near future.
New windows to a past
Given this deep history of powerful kingdoms connected by an underlying but dynamic economic system, we have to let go of the idea that the Zulu Kingdom, which formed in the early 19th century, was the first powerful state in what was to become South Africa. In fact, it was a relatively recent example of much deeper and wider transformations.
It was only in the 19th century that expanding colonial capitalism and settlement fuelled by the “second” mineral revolution penetrated the interior and encountered its kingdoms and trading opportunities.
The interaction between the two worlds culminated in a hard-fought struggle over trade, land and labour. While the African kingdoms were ultimately defeated and traders and craftsmen were displaced, their impact on the shape and nature of South African society is still felt today.
A challenge to historians now is to deepen our understanding of this missing millennium, and of pre-colonial transformations.
Researchers need to pay greater attention to a wider range of documentary sources (beyond those in English) and to oral traditions. Collaboration with scholars working on archaeology, historical linguistics and genetics will also tell us more about the forces that have shaped our present.
Linell Chewins received funding from the National Research Foundation for her Masters.
Tim Forssman receives funding from the National Research Foundation.
Peter Delius does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: The Conversation – Africa – By Suleman Lazarus, Visiting Fellow, Mannheim Centre for Criminology, London School of Economics and Political Science
People find love in many ways and through diverse mediums. Online platforms have become popular meeting places for people looking to find intimate partners, making them a prime target for cybercriminals.
Online romance fraud has become a global phenomenon. According to the Federal Bureau of Investigation in the US, romance scams accounted for losses to about 24,000 Americans, exceeding US$1 billion, in 2022.
On the African continent, Nigeria and Ghana have emerged as hubs for internet fraud. The “Yahoo Boys” operating in Nigeria and “Sakawa Boys” in Ghana have a reputation for engaging in various fraudulent schemes, including online romance scams.
Over the past decade, I have researched cybercrime and criminology, focusing on west African online fraudsters. Coverage of romance scams often centres on victim narratives or sensational headlines, leaving offender-focused research largely unexplored.
In a recent paper, I studied the cases of 50 people convicted of online romance in Nigeria. A separate research study I spearheaded involved interviews with active offenders in Ghana. Rather than relying solely on fragmented media accounts, the two research papers offer a robust, evidence-based understanding of the cultural, economic and historical factors driving cybercriminal behaviour.
My findings from both papers show that romance fraud offenders frequently present themselves as white and primarily target western societies. In framing fraud as a way to reclaim wealth they believed was unjustly taken during colonial rule, many saw their actions as a civic duty. In the case file study on Nigerian fraudsters, I found that many were driven by “socioeconomic needs”.
My findings provide insights into offenders’ tactics and motivations. This could be useful for law enforcement officials developing targeted interventions, and for policymakers wanting to frame informed strategies.
Who, where, how and why
This article uses “scam” and “fraud”, as well as “scammers” and “fraudsters”, interchangeably. The media, financial institutions, and the public typically use “scams” and “scammers”. Academics often prefer “fraud” and “fraudsters” to emphasise the seriousness of these crimes, as noted in my research.
I examined case files of 50 individuals convicted of romance fraud in Nigeria following prosecutions by the Economic and Financial Crimes Commission. In a separate study I conducted interviews with active romance fraud offenders in Ghana.
My decision to focus on Nigeria and Ghana was based on findings in research done earlier. For example, I co-authored a paper that reviewed 21 years of empirical studies (2000–2021) in which we found that many west African scammers predominantly targeted individuals in the west. Another research study I spearheaded showed how songs by Nigerian artists glamorised the actions of scammers and highlighted their preference for western victims.
Similarly, the Nigeria case file study found that over half of the romance scam victims (56%) were in the US. My interviews with offenders in Ghana further showed that romance scammers viewed their actions as “legitimate retribution for colonial injustice”. These scammers operate within a historical framework in which colonial subjugation narratives influence their motivations and societal attitudes toward cybercrime.
Profile of an online fraudster
The analysis of the case files of the 50 convicted romance scammers showed patterns in offender profiles and strategies. Most were young – 81.7% were under 26. Nearly 60% preferred Apple’s iPhone for their fraudulent schemes. When it came to occupation, 74% were university students.
Offenders carefully constructed their online personas. Nearly half (46%) posed as white American males, 12% as military personnel, and 10% as white European males.
The victims they chose were mostly women: 70% of offenders primarily targeted females, 14% targeted males, 10% targeted both genders and 6% did not specify the victim’s gender.
Facebook was the most commonly used platform, appearing in 46% of the Nigerian cases.
Some of the Ghanaian scammers said they saw their crimes as acts of service to a greater cause. This included loyalty to their communities or the pursuit of economic justice. They portrayed their scams as efforts to reclaim wealth from nations historically exploiting their regions.
Suleman Lazarus does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: The Conversation – Canada – By Ian H. Rowlands, Professor, School of Environment, Resources and Sustainability, University of Waterloo
In March 2023, Canada and Norway issued a joint statement on bilateral co-operation. Notably, the statement emphasized a commitment to “achieving carbon neutrality by 2050, to promoting research collaboration and to increasing trade and investment in clean technologies and renewables that help enable a green and just transition.”
Co-operation on energy transitions offers a timely way to strengthen this bond from 2025 onwards, more than ever in light of unfolding events on the global stage.
As researchers in environmental policy, we argue that this collaboration should focus on advancing the energy transition. Here, both countries are faced with tremendous opportunities, but also difficult decisions that require political gumption. There are national elections that will take place in each country this year, which makes this a particularly opportune political moment to address this concern.
Both these climate-ambitious petro-powers have great potential to co-create pathways for prosperity. Both could conceivably implement advanced energy transition strategies that focus on the use of fossil fuel reserves judiciously and purposefully to finance climate change goals.
The National Bank of Canada envisioned something like this in a 2023 report, continuing discussions that date back at least a decade. The report concluded that:
Meanwhile, Norway’s Government Pension Fund Global crossed US$1.7 trillion in 2024, bearing testament to the financial strength the country has derived from the petroleum era.
Electrification
The connections between fossil fuel wealth and a climate-friendly transition show much potential. However, too often those advocating for continued exploitation of carbon-based resources fail to acknowledge the accelerated phaseout timetable needed for greenhouse gas emission reductions. The use of natural gas as a transition fuel, for instance, requires a long-term plan for carbon neutrality. Without that, deployment effectively locks in decades of additional emissions.
The real promise these countries hold for the energy transition is in the call to electrify (almost) everything. This approach simultaneously uses two pathways: “greening” the electricity grid with low-carbon energy sources, and moving fossil fuel energy demand onto these clean electricity grids.
Digitalization, which refers to the wider socioeconomic changes inextricably linked to the shift from analog to digital systems, should also be seen as a parallel priority to enable real-time co-ordination of electricity demand and supply across coupled sectors.
For context, these green and greener grids have been achieved in an era of relatively flat electricity demand in many parts of both countries. But that is changing: sector demands like mobility, heating and data centres are already proving to be significant, new consumers of electricity. Huge quantities of additional electricity have to be rapidly generated while maintaining system stability.
How these two frontrunner states replace existing carbon-fuelled infrastructure and meet the anticipated growth in electricity demand is of global interest.
Stronger bilateral collaboration could also result in positive outcomes in geopolitical developments in the Arctic. Rapidly consolidating trade relations more broadly has rarely been so important from a political perspective. Building this collaboration along energy transition synergies presents advantages that remain gravely underexploited.
This is likely due to the political and economic status and sway that petroleum incumbents have held. But the twin transition of low-carbon electrification and digitalization offers Canada and Norway a chance to co-operate and lead their global regions into a new era of greener energy.
Building upon their shared geographies, structures, experiences and values, the time is ripe for collaboration on the sustainable energy transition. This could include government officials, individuals from utilities and regulators, industry representatives, members of civil society and Indigenous organizations, researchers and academics.
Together, Canada and Norway have the potential to work in tandem to move towards a more prosperous and sustainable global future.
Ian H. Rowlands is a member of the Board of Directors of Waterloo Region Community Energy.
Siddharth Sareen has received funding from the Research Council of Norway, Innovation Norway, the Norwegian Agency for Development Cooperation and Horizon Europe, Horizon 2020, JPI Climate and JPI Urban Europe programmes of the European Commission.
Source: The Conversation – Canada – By Jennifer A. Selby, Professor, Religious Studies and Political Science, Memorial University of Newfoundland
Legislation and scrutiny of ‘fraudulent marriage’ subtly position romance as a proxy to assess narrow liberal ideals.(Shutterstock)
Valentine’s Day is sold to us as a moment to celebrate romance: we should buy cards, roses and chocolates. Go for fancy, dimly lit dinners with our significant others. Make loving declarations.
However, romance can also be mobilized to judge and surveil relationships, and determine which are valid and which are not. Numerous countries, including Canada, have laws against what they deem as fraudulent marriages.
To consider the impact of these laws, and to study the colonial legacies within them, I conducted a study of the marriage (and for many, migration) experiences of people of Algerian origin in three contexts: Ghazaouet and Tizi Ouzou in Algeria, a Parisian suburb called Petit-Nanterre and in Montréal from 2011 to 2019. My findings drew on almost 200 personal interviews focused on the marriage partner preferences and ceremonies of my participants.
I was particularly interested in a comparison between France and Canada, where monitoring romance has served as a way to gauge the sincerity of marriages among migrants for whom citizenship is at stake.
Laws targeting fraudulent marriage
In an effort to curb a seeming rise in fraudulent marriages in immigration family sponsorship requests, governments in France and Canada introduced legislation in the 2000s to promote greater surveillance of and penalties for marriage fraud.
In France, this began in 2008 with a law to curb “love fraud with a migratory aim.” Passed in the same year, Canada’s law centred on impeding “bad faith” marriages.
Such legislation often comes with penalties. In France, if one is found guilty of being party to a fraudulent marriage, the penalty can be annulment, five to 10 years in prison, fines or deportation. The impetus for such laws is the unquantified sense that a growing number of foreign nationals take advantage of family unification immigration pathways through disingenuous relationships.
The state’s involvement in France is more acute because the burden of assessment falls primarily on marriage officiants and immigration officers. Civil marriages there must take place in a municipal office and prior to a religious marriage.
A 2010 directive to French marriage officiants is especially revelatory of this surveillance. Evidence of financial and sexual intimacies act as evidence of a sincere marriage. Romance is seen as a reflection of a spontaneous and uncalculated relationship.
Of course, there is no evidence that expressions of romance in an early marriage are signs of success; divorce occurs for almost half of marrying couples, whether couples are transnational or not. Figures in Canada indicate a slightly higher divorce rate than in France.
In Montréal, one can be married outside of a municipal office. Still, my participants in that city shared similar stories of pressures to perform specific sexual politics in the presence of state officials.
One man whose wife wore a hijab was interrogated by first responders about the husband’s involvement when she fainted, while pregnant, outside a grocery store. Bewildered by the situation, he answered their questions about whether theirs was a forced marriage (it was not). In retrospect, he said he would have declined this line of questioning and focused their attention on his wife.
Arranged marriages
One of my notable findings is that many marriages in my sample were quasi-arranged — organized with the assistance of family members (often mothers). Yet, these types of marriages often fall outside idealized ideas of romance, rendering these couples more vulnerable to being accused of fraud.
I also found that potential scrutiny from immigration officials did not impede interest in a transnational marriage partner. Many of my interviewees liked the idea of a partner of the same religion or culture, and who spoke Arabic or Tamazight. In addition, for many, a cosmopolitan transnational life linking Algeria with France or Québec was appealing.
Depending on their gender, social class, religiosity, families and personalities, individuals grapple with these politics differently. The social contexts of a Parisian suburb and Montréal further shaped a participant’s sense of longing and belonging. Fewer Algerian women in Montréal were interested in such arrangements. Invariably, however, individuals of Algerian origin in both contexts knew that transnational unions were highly scrutinized.
Despite the attention granted to curbing marriage fraud, the data suggest that few marriages are annulled. The spectre of this surveillance is greater than its enforcement.
Unfairly penalizing migrants
Legislation and scrutiny of marriages seen as fraudulent subtly position romance as a proxy to assess narrow liberal ideals. Somescholars have called this phenomenon a push for a “sexual democracy,” where women’s bodies are subtly expected to remain visible and sexually available as signs of their putative equality.
Perhaps unexpectedly, niqab bans in both France and Québec further reflect these values. Full-face veils are, tellingly, depicted as lacking sexual agency and individualism, and impeding a cisgender woman’s ability to attract men.
Narrow views of what kind of romance should be legitimized and celebrated are not limited to governments. Such views also manifest in consumer culture and in the wedding industry, and are desired and performed by many of us, including among my research participants in arranged marriages. Romance’s pervasiveness, desirability and seeming spontaneity mask its politics.
As we enjoy romantic gestures on Valentine’s Day, we should also consider the cultural specificity of these tropes and their potentially exclusionary politics in determining whose relationships are deemed legitimate. Entrenchments of patriarchal chivalry, monogamy, consumerism and narrow gender roles can run in tandem.
Jennifer A. Selby receives funding from the Social Sciences and Humanities Research Council of Canada.
City of London Policy Chairman visits to strengthen business links
11 February 2025
The City of London Corporation’s Policy Chairman, Chris Hayward, was in Derry this week to attend the launch of the MATRIX NI report and a number of engagements to build on the North West’s strong connections with the City of London.
Matrix, Northern Ireland’s Science and Industry Advisory Panel, supported by the Department for the Economy, launched a new report exploring opportunities for the application of regulatory technologies (RegTech).
The report finds that Northern Ireland, with its skilled workforce and strong academic institutions, is strongly positioned to help businesses navigate an increasingly complex regulatory environment. This can be achieved by the development of innovative solutions to streamline compliance processes, enhancing transparency, while mitigating any risks in the financial services sector
Mr Hayward and his delegation were welcomed to the city by the Chief Executive of Derry City and Strabane District Council, John Kelpie, who took the opportunity to discuss shared interests in business, innovation and culture. The significant work being done by the Council and its delivery partners to bring forward an ambitious suite of innovative City Deal projects that will create jobs, attract investment and growth to the region was also discussed.
Mr Kelpie said it was a great honour to welcome Mr Hayward to the region to talk about the opportunities to promote the RegTech proposition, harnessing the city region’s unique cross-jurisdictional location and collaborative partnerships and to build on existing relationships between the two cities and regions.
He said: “We have extremely strong links with the City of London and it’s hugely encouraging to see Mr Hayward and his delegation taking time out of their schedule to visit our city and meet with industry leaders to hear about the excellent work that is being done here in terms of attracting global investment and helping home-grown success stories compete internationally. The City of London Corporation is a global financial and professional services capital that drives the UK’s economy and the sector is of huge importance to this region.”
During his visit, Mr Hayward met with RegTech Supercluster representatives to hear at first-hand about the collaborative work being done on the ground to develop the region’s RegTech offering.
It was also an opportunity to provide the delegation with an update on the ‘Innovation Challenge’ programme that was launched late last year with the City of London Corporation as a strategic partner, to encourage innovators to develop creative technology solutions to tackle cross border regulatory and compliance challenges.
A key element of the visit was to discuss with key stakeholders the key findings of the Matrix NI report and how to bring forward its recommendations.
The launch provided the opportunity for the RegTech Supercluster to discuss how it can support the Department to shape the RegTech proposition and working with key stakeholders generate economic growth and competitive advantage across the region.
The delegation met with senior officials at the Ulster University to discuss their expansion plans and to receive an update on the work being carried out by the Task Force and key research and development projects.
Mr Heyward also met with representatives from the Londonderry Chamber of Commerce before taking a tour of the local Seagate plant at Springtown and meeting with Chief Operating Officer with EY, Jonathan Williamson, to discuss their future plans for development at Ebrington Plaza and their wider growth across the region.
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Yuri Trutnev held a meeting on the implementation of long-term plans for the integrated socio-economic development of the Khabarovsk urban agglomeration and the urban district “City of Komsomolsk-on-Amur” for the period up to 2030
February 11, 2025
Yuri Trutnev held a meeting on the implementation of long-term plans for the integrated socio-economic development of the Khabarovsk urban agglomeration and the urban district “City of Komsomolsk-on-Amur” for the period up to 2030
February 11, 2025
Yuri Trutnev inspected the new modular multifunctional sports hall at School No. 9 in Khabarovsk and attended a training session for children’s sports groups in Kyokushin karate and other martial arts
February 11, 2025
Yuri Trutnev inspected the new modular multifunctional sports hall at School No. 9 in Khabarovsk and attended a training session for children’s sports groups in Kyokushin karate and other martial arts
February 11, 2025
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Yuri Trutnev held a meeting on the implementation of long-term plans for the integrated socio-economic development of the Khabarovsk urban agglomeration and the urban district “City of Komsomolsk-on-Amur” for the period up to 2030
During a working visit to Khabarovsk Krai, Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev held meetings on the implementation of long-term plans for the comprehensive socio-economic development of the Khabarovsk urban agglomeration and the urban district “City of Komsomolsk-on-Amur” for the period up to 2030, on the implementation of major investment projects in the region, and also visited a number of social facilities.
“In accordance with the instructions of the President of Russia, master plan activities are being implemented in the Khabarovsk agglomeration and Komsomolsk-on-Amur in Khabarovsk Krai. The development plans for the two cities include 48 activities for 414 billion rubles. More than 124 billion rubles have already been allocated from budgets at all levels for the implementation of activities until 2030,” Yuri Trutnev opened the meeting on the implementation of master plans.
The master plans of the Khabarovsk agglomeration and Komsomolsk-on-Amur were approved by the President of Russia in 2023. Of the 84 objects of the master plans of the Khabarovsk Territory, four have been completed, ten are being designed, 21 are under construction, and 49 are in the planning stage. As part of the implementation of the master plans in Khabarovsk in 2024, 16 trolleybuses and 10 trams were purchased, and preferential financing was approved through VEB.RF for the construction of the Far Eastern bus cluster. New microdistricts with developed social infrastructure and rental housing are being built in the Northern District. Under the Far Eastern concession, projects have begun to build the Far Eastern Art Museum and the Far Eastern Children’s Recreation and Health Center.
“We will complete the design in the first half of the year. I gave instructions to begin preparing the construction sites. The new museum will open to visitors in the first quarter of 2028. Its halls will display over 15 thousand works of art. The first children’s camp created in the region in the post-Soviet period will be completed in 2027. The company has begun preparing the construction site. Once commissioned, the camp will be able to accommodate over 5 thousand children per year,” said Dmitry Demeshin, Governor of Khabarovsk Krai.
In Komsomolsk-on-Amur, the reconstruction of the embankment will be completed in March, and the innovative interactive center “Euristics” is planned to be launched. “The long-term plan for Komsomolsk-on-Amur provides for the revitalization of iconic spaces. It was decided to allocate more than 400 million rubles from the regional reserve fund for the restoration of the Stroitel cultural center. The design and estimate documentation is ready. The work will take two years,” the head of the region specified.
Yuri Trutnev noted the need to complete the construction of social facilities, including a children’s hospital complex and an inter-district oncology dispensary in Komsomolsk-on-Amur, and asked Dmitry Demeshin to pay special attention to them.
Funds are allocated for the implementation of master plans from the presidential single subsidy. As explained by the Minister for the Development of the Far East and the Arctic Alexey Chekunkov, the Presidium of the Government Commission on the Socio-Economic Development of the Far East supported three events: the creation of the Far Eastern Children’s Recreation and Health Center, the construction of the Far Eastern Art Museum building, and the fifth stage of the construction of the unified embankment.
The creation of a “Far Eastern quarter” in the Zheleznodorozhny district of Khabarovsk was discussed. The project was developed to support integrated development.
During a meeting on the implementation of major investment projects in the region, Yuri Trutnev noted that Khabarovsk Krai is one of the leaders in attracting investment in the Far East. “Here, 145 investment projects are being implemented with state support. More than 15.3 thousand jobs have been created, 63 enterprises have been introduced. Our priority task is to ensure the timely and successful implementation of investment projects, providing comprehensive support to investors,” Yuri Trutnev opened the meeting.
The meeting discussed projects in the fields of mining, logistics, tourism, construction and transport infrastructure. A-Steel presented a project to build a mining and processing plant based on the Milkan iron ore deposit. Amur Minerals, a resident of the priority development area, is building a mining and processing plant at the Malmyzhskoye deposit in the Nanai district. Elga Management Company LLC is creating the Pacific Ocean railway and a sea coal terminal near Cape Manorsky. VB Khabarovsk presented a project to build a high-tech warehouse complex, the implementation of which is planned for the new integrated investment site of the priority development area Khabarovsk – Severnaya. The development of the Kholdomi mountain resort was discussed. The Etalon financial and construction group held a presentation of the Khabarovsk-City project. Projects for the development of port infrastructure were also discussed.
Yuri Trutnev visited the regional branch of the Voin center. The Khabarovsk branch of the Voin center opened its doors on May 11, 2023 and has already achieved significant success. If in 2023, 1,413 people completed its educational programs, then in 2024 it has already trained 3,067 cadets. Over the entire period of its work, the branch team has held about 200 military-patriotic events in educational institutions of the region, master classes with employees of law enforcement agencies, and exhibitions.
On the same day, the Deputy Prime Minister inspected the new modular multifunctional sports hall at School No. 9 in Khabarovsk and attended a training session of children’s sports groups in Kyokushin karate and other types of martial arts. The facility is one of six being built in Khabarovsk under the “50 Sports Halls in Far Eastern Schools” program at the initiative of three-time Kyokushin karate world champion Khaid Mantayev together with the Ministry for the Development of the Russian Far East and with the personal support of Yuri Trutnev. The new sports hall is equipped with all the necessary equipment and was built as part of the social development plan for economic growth centers in Khabarovsk Krai using funds from the presidential single subsidy provided by the Ministry for the Development of the Russian Far East. The modular hall with an area of 360 square meters will be able to accommodate about 30 sports fans at a time. The sports hall will include mini-football, basketball, volleyball, karate, taekwondo and judo. In the future, there are plans to open hand-to-hand combat and gymnastics sections here, as well as install a boxing ring.
Yuri Trutnev also visited a site in the village of Blagovatnoye where it is planned to create a training ground for UAV operators and conduct classes as part of the development of a system of patriotic education and military-sports training.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
The Board of Directors of the Bank of Canada today announced the appointment of Michelle Alexopoulos as an external Deputy Governor for a term of two years, effective March 17, 2025. Dr. Alexopoulos’ appointment is the result of a public external recruitment process and will bring the size of the Bank’s Governing Council to seven members on an ongoing basis.
“I am delighted that Michelle Alexopoulos is joining the Bank’s Governing Council and I am looking forward to working with her,” said Governor Tiff Macklem. “She is a top-tier macroeconomist with deep expertise in issues critical to Canada’s economic prospects. I am confident that her knowledge and innovative thinking will contribute importantly to our policy decision making.”
The Bank’s Governing Council is its policy-making body, responsible for conducting monetary policy and promoting a safe and efficient financial system. Alongside other members of the Council, Dr. Alexopoulos will also be responsible for communicating with Canadians about the Bank’s policy decisions and its outlook for the economy and inflation.
The Bank created the external Deputy Governor role in 2023 to bring diverse perspectives to its consensus-based policy-making process. The first external Deputy Governor, Nicolas Vincent, was appointed effective March 2023 for a term that has been extended to three years. In October of last year, the Bank announced it would create a second external Deputy Governor position.
In keeping with the nature of the role, Dr. Alexopoulos will work with the Bank of Canada in a part-time capacity and will maintain her affiliation with the University of Toronto, where she is a professor of economics.
Dr. Alexopoulos’ research focuses on the business cycle as well as the effects of technical change and uncertainty. She has conducted innovative work in the application of data mining and textual analysis to create indicators for economic modeling and forecasting. More recently, her research has looked at technological change, productivity and central bank communications. She is past president of the Canadian Economics Association and has been a multi-year recipient of the Bank of Canada’s Fellowship Award.
Born in Toronto, Dr. Alexopoulos received a Bachelor of Science degree from the University of Toronto, as well as a Master’s and a PhD in economics from Northwestern University.
Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)
COLUMBIA, S.C. — Michael J. French, 41, of Pendleton, has pleaded guilty to operating a multimillion-dollar Ponzi scheme and to stalking two social media content creators.
Evidence put forth at the plea hearing established that French owned MJF Holdings, LLC and MJF Capital, LLC. Beginning in March 2019, through these companies, French offered promissory notes to investors that projected annual returns of 12 percent. He represented to investors that their funds would be used to provide loans to small businesses and that he had experience in the financial industry, including underwriting the loans in which the investor would be invested. French represented to investors that he would not receive compensation unless the promissory notes earned in excess of the 12 percent guaranteed to investors.
These were false representations. French paid previous investors with new investor monies because his investment product was not generating returns. This lulled investors into believing the product was successful, when, in fact, French was spending investor money to maintain a lavish lifestyle that included supporting female social media content creators by paying them thousands of dollars each month.
At one point, the content creators stopped communicating with French. He became angry with the women and began harassing them through various “burner” phone numbers and fake email accounts. French claimed that he was a sniper, had killed people, and that the police could not protect them. French traveled to one woman’s home unannounced, forcing her to hide in a locked vehicle in the garage with her 2-year-old child. She called 911 as French attempted to force his way into the home. He was arrested by local police before he could reach them.
United State Chief District Judge Timothy Cain accepted French’s guilty plea and will sentence him after receiving and reviewing a pre-sentence report from the U.S. Probation Office. French faces a maximum penalty of 20 years’ imprisonment.
The FBI Columbia Field Office and U.S. Securities and Exchange Commission, Office of Inspector General investigated the case. Assistant United States Attorney Bill Watkins is prosecuting the case.
Source: The Conversation – Africa – By Peter Delius, Professor emeritus, University of the Witwatersrand
Were you told that gold mining in southern Africa started after 1852? Or that the export of iron, steel, copper and gold began in the late 19th century? Or that South Africa became integrated into a global trading system only after 1652? Or that the first powerful state in South Africa was the Zulu kingdom?
If you learned that any of these things were true, you are like most South Africans, who have missed out on at least a thousand years of the country’s history.
Both radical and conservative historians have focused heavily on colonial history, a story starting at the Cape and playing out within colonial boundaries. As a result, South Africa’s past has been compressed into a shortened timeline and a limited geography. That shorter version is what’s taught at schools and universities.
If we abandon 1652 – when the first Dutch settlers arrived in the Cape – as the key historical starting point, and go back a thousand years and cast our gaze 2,000km north of Table Mountain, a very different story unfolds.
Our research is attempting to rethink South African history. As many years of work in the interior show, along with our new focus on a central southern African trading landscape, Thulamela, the formative steps in South Africa’s history began here, along the Limpopo River.
Early cooperative relationships
Two thousand years ago, San hunter gatherers were the primary occupants of the region around the Limpopo River valley, an area around the confluence of the Limpopo and Shashe rivers that includes Botswana, South Africa and Zimbabwe. Contrary to popular opinion, these groups weren’t living in isolated bands. They were connected through regional networks of exchange spanning hundreds, even thousands, of kilometres.
At this time, South Africa was on the brink of fundamental change. From about 350 AD, Bantu-speaking, iron-using, livestock-owning farmers began to settle the Soutpansberg, south of the Limpopo River. They initially established mainly cooperative relationships with the San, especially in hunting and trading.
These farmers introduced a key innovation into the region – the production of metal tools, weapons, currency and jewellery. These goods were for their own use and for expanding trade networks.
A map showing some of the prominent trading sites in the East African trade network: 1: Kilwa; 2: Tsodilo Hills; 3: Khami; 4: Great Zimbabwe; 5: Initial gold reefs; 6: Chibuene; 7: Schroda, K2 and Mapungubwe; 8: Thulamela and Makahane; 9: Dzata/Venda Capital; 10: KwaGandaganda and Ndondwane (labeled from north to south).Author supplied
At the start, iron was the most important metal but over time, copper and gold became more and more significant. The farmers were skilled in locating and extracting these ores, which, in the case of gold and copper, often involved shaft mining. Metal production also demanded pyrotechnical knowledge to smelt ores and to fashion metals into functional and decorative forms.
Local trade, global connections
Another crucial development took place in the 7th century AD. The Indian Ocean world connected to the expanding regional trade networks which had linked the coast and the interior. The transoceanic sailors and traders were initially motivated by the growing demand for ivory in Asia and the Middle East.
This external demand brought exotic glass beads and cloth deep into the interior, through African traders and rulers. A node in the system was Chibuene, a large coastal trading settlement on the Mozambican coast near modern Vilanculos. From here, beads and cloth travelled south, to the vicinity of Durban in modern-day KwaZulu-Natal, South Africa, and across the interior, past the Okavango delta to places such as the Tsodilo hills west of the delta’s panhandle in Botswana.
An aerial view of an ancient residential enclosure in Thulamela.Author supplied.
Between the 10th and 15th centuries, the market for gold boomed – especially in Egypt, Persia, India and China. Southern Africa played an important role in meeting this demand because of the rich gold reserves of the Zimbabwe plateau and the adjacent region of the Limpopo valley.
So, it is clear that an economic and mineral revolution took place long before Europeans settled South Africa’s Cape. Colonial processes of globalisation and the mineral revolution in the 19th century trailed far in the wake of African involvement in the vast Indian Ocean economy through their hunting, mining, smelting and artisanal skills.
Rise of states
Indian Ocean trade contributed to major transformations in the interior. The wealth it generated led to social stratification and the emergence of a distinct ruling class. Leaders’ economic, political and spiritual power intensified. These processes found expression in the establishment in 1220 of Mapungubwe, in the middle Limpopo Valley, and the first state in southern Africa.
The little-known trading state, Thulamela, was located in the north of what’s now the Kruger Park. From 1250 to 1650 it was a key node of production and exchange. But for many decades the site was ignored. When intensive research finally started in the 1990s it made very limited progress in revealing the form and nature of the state. But renewed and interdisciplinary research at the site and surrounding areas has already produced new insights into the history of Thulamela and promises to generate many more in the near future.
New windows to a past
Given this deep history of powerful kingdoms connected by an underlying but dynamic economic system, we have to let go of the idea that the Zulu Kingdom, which formed in the early 19th century, was the first powerful state in what was to become South Africa. In fact, it was a relatively recent example of much deeper and wider transformations.
It was only in the 19th century that expanding colonial capitalism and settlement fuelled by the “second” mineral revolution penetrated the interior and encountered its kingdoms and trading opportunities.
Pottery is common at Iron Age sites and their decorations are specific to groups and periods.Author supplied
The interaction between the two worlds culminated in a hard-fought struggle over trade, land and labour. While the African kingdoms were ultimately defeated and traders and craftsmen were displaced, their impact on the shape and nature of South African society is still felt today.
A challenge to historians now is to deepen our understanding of this missing millennium, and of pre-colonial transformations.
Researchers need to pay greater attention to a wider range of documentary sources (beyond those in English) and to oral traditions. Collaboration with scholars working on archaeology, historical linguistics and genetics will also tell us more about the forces that have shaped our present.
– South Africa’s history uncovered: the 1,000-year gap they don’t teach in school – https://theconversation.com/south-africas-history-uncovered-the-1-000-year-gap-they-dont-teach-in-school-248244
Source: The Conversation – Africa – By Suleman Lazarus, Visiting Fellow, Mannheim Centre for Criminology, London School of Economics and Political Science
People find love in many ways and through diverse mediums. Online platforms have become popular meeting places for people looking to find intimate partners, making them a prime target for cybercriminals.
Online romance fraud has become a global phenomenon. According to the Federal Bureau of Investigation in the US, romance scams accounted for losses to about 24,000 Americans, exceeding US$1 billion, in 2022.
On the African continent, Nigeria and Ghana have emerged as hubs for internet fraud. The “Yahoo Boys” operating in Nigeria and “Sakawa Boys” in Ghana have a reputation for engaging in various fraudulent schemes, including online romance scams.
Over the past decade, I have researched cybercrime and criminology, focusing on west African online fraudsters. Coverage of romance scams often centres on victim narratives or sensational headlines, leaving offender-focused research largely unexplored.
In a recent paper, I studied the cases of 50 people convicted of online romance in Nigeria. A separate research study I spearheaded involved interviews with active offenders in Ghana. Rather than relying solely on fragmented media accounts, the two research papers offer a robust, evidence-based understanding of the cultural, economic and historical factors driving cybercriminal behaviour.
My findings from both papers show that romance fraud offenders frequently present themselves as white and primarily target western societies. In framing fraud as a way to reclaim wealth they believed was unjustly taken during colonial rule, many saw their actions as a civic duty. In the case file study on Nigerian fraudsters, I found that many were driven by “socioeconomic needs”.
My findings provide insights into offenders’ tactics and motivations. This could be useful for law enforcement officials developing targeted interventions, and for policymakers wanting to frame informed strategies.
Who, where, how and why
This article uses “scam” and “fraud”, as well as “scammers” and “fraudsters”, interchangeably. The media, financial institutions, and the public typically use “scams” and “scammers”. Academics often prefer “fraud” and “fraudsters” to emphasise the seriousness of these crimes, as noted in my research.
I examined case files of 50 individuals convicted of romance fraud in Nigeria following prosecutions by the Economic and Financial Crimes Commission. In a separate study I conducted interviews with active romance fraud offenders in Ghana.
My decision to focus on Nigeria and Ghana was based on findings in research done earlier. For example, I co-authored a paper that reviewed 21 years of empirical studies (2000–2021) in which we found that many west African scammers predominantly targeted individuals in the west. Another research study I spearheaded showed how songs by Nigerian artists glamorised the actions of scammers and highlighted their preference for western victims.
Similarly, the Nigeria case file study found that over half of the romance scam victims (56%) were in the US. My interviews with offenders in Ghana further showed that romance scammers viewed their actions as “legitimate retribution for colonial injustice”. These scammers operate within a historical framework in which colonial subjugation narratives influence their motivations and societal attitudes toward cybercrime.
Profile of an online fraudster
The analysis of the case files of the 50 convicted romance scammers showed patterns in offender profiles and strategies. Most were young – 81.7% were under 26. Nearly 60% preferred Apple’s iPhone for their fraudulent schemes. When it came to occupation, 74% were university students.
Offenders carefully constructed their online personas. Nearly half (46%) posed as white American males, 12% as military personnel, and 10% as white European males.
The victims they chose were mostly women: 70% of offenders primarily targeted females, 14% targeted males, 10% targeted both genders and 6% did not specify the victim’s gender.
Facebook was the most commonly used platform, appearing in 46% of the Nigerian cases.
Some of the Ghanaian scammers said they saw their crimes as acts of service to a greater cause. This included loyalty to their communities or the pursuit of economic justice. They portrayed their scams as efforts to reclaim wealth from nations historically exploiting their regions.
– Online romance scams: who Nigeria and Ghana’s fraudsters are, how they operate, and why they do it – https://theconversation.com/online-romance-scams-who-nigeria-and-ghanas-fraudsters-are-how-they-operate-and-why-they-do-it-247916
SAN ANTONIO, Feb. 11, 2025 (GLOBE NEWSWIRE) — Centage, a leader in modern FP&A software, has announced the appointment of Paul Lynch as its new Chief Executive Officer. Lynch brings extensive experience in scaling B2B SaaS businesses and a clear vision for Centage’s role in transforming financial planning and analysis for mid-market companies.
Lynch is a seasoned B2B SaaS leader, innovator, and disruptor with a proven track record of scaling fintech, developer tools, and messaging businesses. He serves as COO and Venture Partner at Scaleworks and Chairman of Import.io. Previously, he was the CEO of Assembla, successfully leading the company to an exit to Idera in September 2018. Following that, he oversaw the merger of Chargify with SaaSOptics as a larger Battery Ventures investment. Most recently, Lynch was CEO of Import.io, where post-acquisition he restructured the company, returning it to growth and profitability. Originally from Dublin, Ireland, Lynch now resides in San Antonio with his wife and three young children.
Under his leadership, Centage aims to disrupt the FP&A software space by finally breaking the stranglehold that Excel has had on budget management in the mid-market for the last four decades. Financial planning has become too complex for spreadsheets, Centage provides a powerful yet intuitive budgeting and forecasting tool—bridging the gap between spreadsheets and enterprise performance management (EPM) systems. Designed for collaboration, Centage delivers better outputs for budget owners in an Excel-like environment—without the headaches of version control or the inefficiencies of disconnected spreadsheets.
“Every business reaches a point where Excel just isn’t enough. When financial planning gets too complex for spreadsheets, Centage is the perfect next step—powerful enough to handle your growing needs but intuitive enough to keep your team aligned,” said Paul Lynch, CEO of Centage. “With our upcoming Worksheets product launch, we’re finally removing the cumbersome overhead of Excel sheets and plugins, delivering a solution that not only provides better functionality than Excel but also offers superior security, governance, and ease of use. Our mission is to bridge the gap between the Excel-based startup and the Enterprise Performance Management corporate user, giving budget owners, in the mid-market, a collaborative, streamlined experience without the version control nightmares or spreadsheet chaos. Centage is here to make financial planning smarter, faster, and stress-free.”
Lynch’s vision for Centage has been set to redefine how finance teams approach budgeting and forecasting, offering a solution that scales with business needs while maintaining the simplicity and flexibility that finance professionals expect. With his leadership and the early March product launch, Centage has set to deliver an even more powerful and intuitive platform that empowers finance teams to work more efficiently and make data-driven decisions with confidence.
About Centage Centage is a leader in modern financial planning and analysis software, providing businesses with an intuitive, collaborative, and scalable solution for budgeting, forecasting, and reporting. Designed for finance teams looking to move beyond spreadsheets, Centage delivers real-time insights, automated planning, and seamless collaboration to help organizations drive smarter financial decisions.
Contacts
Marketing Content Coordinator Emily Schmitt Centage emily.schmitt@centage.com 5129399782 VP of Marketing Andrew Fear Centage andrew.fear@centage.com 831-521-1735
CONCORD, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) — AssetMark, Inc., a leading wealth management technology platform for financial advisors, today announced the appointment of Doris Meister and Lisa Opoku to its Board of Directors. The addition of these two accomplished executives reflects AssetMark’s ongoing commitment to enhancing its governance with leaders who bring deep expertise in financial services, strategic transformation, and operational excellence.
Doris Meister is a highly respected financial services CEO with extensive experience in strategy, business transformation, finance, investments, and governance. Most recently, she served as Chairman and CEO of Wilmington Trust, a wholly owned subsidiary of M&T Bank, where she led a comprehensive transformation of the wealth and investment management business, increasing revenues by 40% and significantly expanding profitability. Throughout her career, Meister has successfully built and scaled wealth management businesses, modernized technology platforms, and developed multi-segment growth strategies that have driven meaningful client and business outcomes.
Lisa Opoku, currently the Chief Operating Officer at FS Investments, brings over two decades of leadership experience in global financial services. Prior to joining FS Investments, Opoku held several senior leadership positions at Goldman Sachs, including Global Head of the Goldman Sachs Partner Family Office within Asset and Wealth Management. Her extensive experience in technology, operations, and strategic business transformation uniquely positions her to contribute to AssetMark’s continued growth and innovation.
“We are thrilled to welcome Doris and Lisa to AssetMark’s Board of Directors,” said Lou Maiuri, Chairman & Group CEO of AssetMark. “Their exceptional track records in wealth management, operational excellence, and strategic leadership will be invaluable as we continue to enhance our platform, support financial advisors, and deliver exceptional value to investors. Their insights and experience will play a key role in shaping AssetMark’s future growth.”
About AssetMark
AssetMark operates a wealth management platform whose mission is to help financial advisors and their clients. AssetMark, together with its affiliates AssetMark Trust Company, Voyant, and Adhesion Wealth Advisor Solutions, serves advisors at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Its ecosystem of solutions equips advisors with services and capabilities to help deliver better investor outcomes by enhancing their productivity, profitability, and client satisfaction.
With a history going back to 1996, AssetMark has over 1,000 employees, and its platform serves over 10,700 financial advisors and over 317,000 investor households. As of December 31, 2024, the Company had over $139 billion in platform assets. AssetMark, Inc. is a Registered Investment Adviser with the U.S. Securities and Exchange Commission. For more information, please visit www.assetmark.com and follow us on LinkedIn.
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Finanz World Group and the services it is offering. According to information available to BaFin, the company offers banking business on the website finzworld-group.com, such as the opportunity to take out loans or open bank accounts. BaFin does not supervise any company called Finanz World Group.
Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
BaFin is issuing this information on the basis of section 37 (4) of the German BankingAct (Kreditwesengesetz – KWG).
Please be aware:
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
Washington, DC: On January 27, 2025, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Qatar.
Growth normalization after the 2022 FIFA World Cup continued, with signs of strengthening activities more recently. Real GDP growth is projected to improve gradually to 2 percent in 2024–25 supported by public investment, spillovers from the ongoing LNG expansion project, and strong tourism. Medium-term growth is expected to accelerate to 4¾ percent on average, boosted by the significant LNG production expansion and initial gains from implementing reforms guided by the Third National Development Strategy (NDS3). Headline inflation will likely ease to 1 percent in 2024 and converge to around 2 percent over the medium term.
With lower hydrocarbon prices, both the current account and fiscal surpluses narrowed in 2023, to 17 percent of GDP and 5½ percent of GDP, respectively. The twin surpluses moderated further in 2024. Over the medium, as Qatar’s LNG production expands massively, both the current and fiscal accounts will likely remain in surpluses, albeit declining as a share of GDP, as hydrocarbon prices are projected to fall.
Banks are well-capitalized, liquid, and profitable, with the capital adequacy ratio of close to 20 percent and return on equity of 14½ percent, respectively, in the third quarter of 2024. Since the implementation of QCB measures to reduce banks’ net short-term foreign liabilities, banks’ non-resident deposits declined significantly, and banks have lengthened the average maturity and diversified further the sources of foreign funding. The sector-wide NPL ratio remained broadly unchanged at slightly below 4 percent and the provisioning coverage ratio is relatively high at above 80 percent.
Qatar has started to implement the ambitious Third National Development Strategy (NDS3) to build a more diversified, knowledge-based and private sector-driven economy. Guided by NDS3, reform momentum has strengthened significantly, including to attract and retain high-skilled expatriate workers, foster innovation, promote public-private partnerships, and further improve the business efficiency. Qatar is well positioned to leverage digitalization and AI for productivity gains, and the nation’s climate agenda is advancing.
Risks to the outlook are broadly balanced. Main downside risks stem from the global headwinds, including a sharper-than-expected global growth slowdown, increased volatility in global financial conditions and commodity prices, and further worsening of geopolitical tensions. The regional conflict has had limited impact on Qatar but adds further to the downside risks through lower tourism and capital inflows, and more volatile hydrocarbon prices. Domestic downside risk stems mainly from further weaknesses in the real estate sector, although strong tourism and policy measures introduced in 2023 could mitigate the risk. Over the medium and long term, supply in the global natural gas market is expected to expand significantly, potentially putting downward pressure on prices. On the upside, sustained high hydrocarbon prices and accelerated NDS3 reforms would strengthen the outlook. However, if ambitious NDS3 initiatives lead to resource misallocation, both the public finance and growth prospect would be affected.
Executive Directors agreed with the thrust of the staff appraisal. They welcomed Qatar’s continued resilience to external shocks and its favorable medium-term outlook, driven by significant increases in LNG production and the reforms under the Third National Development Strategy. Directors agreed that maintaining prudent macroeconomic policies and accelerating reform efforts would further solidify macroeconomic stability and resilience to shocks while boosting prosperity.
Directors commended the authorities’ commitment to continued fiscal prudence and called for accelerating fiscal reforms. They recommended adopting a medium-term fiscal anchor to help ensure intergenerational equity, and reiterated the need to accelerate revenue diversification, particularly by introducing the value-added tax. Directors highlighted the importance of improving spending efficiency and composition, particularly by enhancing public investment management. They welcomed the ongoing efforts to strengthen fiscal institutions and adopt a full-fledged medium-term fiscal framework with enhanced fiscal risk management.
Directors supported the authorities’ efforts to maintain financial stability and deepen domestic financial markets, while encouraging them to consider undertaking a Financial Sector Assessment Program update. They welcomed the newly introduced risk-based supervision and recommended formalizing the financial safety net and continuing to adjust macroprudential policies to mitigate potential macro-financial risks. Directors encouraged the authorities to sustain their progress in fighting financial crimes.
Directors agreed that the exchange rate peg continues to serve Qatar well. They concurred that, as conditions allow, strengthening the operational framework would further enhance monetary policy transmission.
Directors supported the authorities’ strategy to build a more diversified, private sector-led, and knowledge-based economy. They recommended fostering innovation and business efficiency and enhancing human capital by attracting and retaining more high-skilled expatriate workers, improving Qatari nationals’ employment in the private sector, and further increasing female labor force participation. Directors agreed that aligning domestic energy prices with export prices would benefit public finances and support climate goals. They also encouraged the authorities to close remaining data gaps, with the help of IMF capacity development.
It is expected that the next Article IV consultation with Qatar will be held on the standard 12-month cycle.
Qatar: Selected Macroeconomic Indicators, 2021-25
(Quota: 735.1 million SDRs, November 2024)
(Per capita income: U.S.$69,541, 2023)
(Life expectancy at birth: 81.6 years, 2022)
(Population: 3.1 million, 2023)
Projections
2021
2022
2023
2024
2025
Production and prices
(percent change)
Real GDP (2018 prices)
1.6
4.2
1.2
1.7
2.4
Hydrocarbon 1/
-0.3
1.7
1.4
1.4
3.0
Nonhydrocarbon
2.8
5.7
1.1
1.9
2.1
CPI inflation (average)
2.3
5.0
3.0
1.0
1.4
Public finances
(percent of GDP)
Revenue
29.6
34.7
32.8
26.2
28.7
Expenditure
29.4
24.3
27.3
25.9
26.2
Current
18.3
15.6
17.5
17.2
17.5
Capital
11.1
8.8
9.7
8.7
8.7
Central government fiscal balance
0.2
10.4
5.6
0.3
2.5
Money
(percent change)
Broad money
1.4
17.4
1.1
4.1
5.6
Credit to private sector
9.5
7.4
4.9
5.5
6.1
External sector
(percent of GDP unless otherwise noted)
Exports
58.7
68.6
60.4
58.7
60.1
Imports
34.1
31.6
33.9
33.4
35.1
Current account balance
14.6
26.8
17.1
16.6
15.5
in billions of U.S. dollars
26.3
63.1
36.5
37.0
35.2
External debt
161.4
115.5
123.2
118.1
116.8
Central Bank’s reserves
23.5
20.1
24.2
24.5
25.4
in months of next year’s imports
6.6
7.7
8.1
8.0
7.9
Exchange rate (per U.S. dollar) 2/
3.6
3.6
3.6
3.6
3.6
Real effective exchange rate (percent change) 3/
-2.6
6.5
0.2
-0.5
…
Sources: Qatari authorities; and IMF staff estimates and projections.
1/ Includes crude oil, natural gas, propane, butane, and condensates.
2/ January 6, 2025
3/ November 2024.
[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.
[2] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.
Investment designed to drive forward economic development in Dundee is set to be discussed by councillors.
Funding from external sources would be used to support ongoing initiatives like employment programmes, while it could also assist commercial companies spinning out from biomedical research.
A report to be considered on Monday (Feb 17) shows that £2.44 million of funding has been awarded to Dundee City Council from the UK Shared Prosperity Fund (UKSPF) for 2025-26.
Councillors will hear that over the last three years, the council has used UKSPF to support the delivery of key economic development interventions.
These include Discover Work, the Dundee Partnership’s employability programme, and local business support through Business Gateway.
To ensure that these services can continue to deliver to clients without interruption, and that staff are retained, it is necessary to confirm the ongoing funding for these projects at the earliest opportunity.
Delivery models including Challenge Funds, partnership approaches, procured services and regionally focused initiatives would remain the same as previous years.
Meanwhile, a separate report recommends the use of legacy funding from the Business Loans Scotland scheme to bolster the city’s life sciences sector.
Opening of the Dundee Life Sciences Innovation Hub in 2025 creates an imperative to maximise the pipeline of spinout companies and to remove barriers to translating innovative research into commercial opportunity and job creation.
Councillors are being asked to give the go-ahead to the reinvestment of the £137,000 legacy funding into a Proof of Concept (POC) Fund Programme in partnership with University of Dundee, with the aim of catalysing life science and healthcare sector spinout companies.
They will hear that the pilot phase of the POC scheme has been funded in 2024/2025 by £100,000 from Dundee’s UK Shared Prosperity Fund allocation matched in kind by Dundee University.
Both reports will be considered by the Fair Work, Economic Growth and Infrastructure Commitee at its next meeting.
Committee convener Councillor Steven Rome said: “We are determined to improve the economy of Dundee through a range of measures with our partners and these two reports show the efforts we are making.
“UKSPF has enabled us to deliver key employability programmes, and city partners are focusing on key issues such as increasing the number of our young people in positive destinations.
“This is a crucial initiative for the future of our city.
“We also want to see academic innovation translated into commercial success, and the Proof of Concept programme will help fledgling companies to find their way.”
Missouri Secretary of State Denny Hoskins, CPA, Warns Missourians About Romance Scams
JEFFERSON CITY, MO– Missouri Secretary of State Denny Hoskins, CPA, is urging Missourians to be vigilant against romance scams, a growing threat that preys on individuals seeking companionship online. As Valentine’s Day approaches, fraudsters are ramping up efforts to manipulate victims into sending money or divulging personal information.
“Romance scams are among the most devastating types of fraud, not only financially but emotionally,” said Secretary Hoskins. “These scammers build trust over time, often posing as loving and devoted partners, only to exploit their victims for financial gain. Missourians should remain cautious when engaging in online relationships.”
According to the Federal Trade Commission (FTC), romance scams result in millions of dollars in losses each year, with victims often targeted through dating websites, social media platforms, and messaging apps. Scammers typically craft elaborate backstories, claiming to be deployed military personnel, international businesspeople, or professionals working overseas. They create a sense of urgency, asking for money under the guise of emergencies, medical expenses, or travel costs to meet in person—requests that never materialize into a real encounter.
To help Missourians protect themselves, Secretary Hoskins offers the following tips:
Be skeptical of individuals who profess love quickly or avoid in-person meetings.
Never send money, gift cards, or personal financial information to someone you haven’t met.
Conduct reverse image searches on profile pictures to check for stolen identities.
Discuss new online relationships with trusted friends or family members.
Report suspected romance scams to the Missouri Secretary of State’s Office, the FTC, or the FBI’s Internet Crime Complaint Center (IC3).
“Missourians deserve to form relationships built on trust, not deceit,” Secretary Hoskins emphasized. “By staying informed and vigilant, we can protect ourselves and our loved ones from these heartless schemes.”
For more information or to report suspected fraud, visit Missouri Secretary of State’s website or contact the Securities Division at 573-751-4136.
GRENADA – The United Nations World Food Programme (WFP) has supported Caribbean nations to ensure that climate insurance payouts triggered by category-5 Hurricane Beryl in July last year are used for social subsidies to get the most vulnerable back on their feet. The Governments of Grenada, Jamaica and Saint Vincent and the Grenadines will use a US$ 5.5 million portion of the payout to assist people affected by the tropical storm.
In Grenada alone, 34,000 people (30 percent of the population) required emergency assistance after Hurricane Beryl. Now, it is the first country to provide subsidies to people who lost income, under the Beryl Relief Income Support Programme (BRISP).
WFP and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) work together to link tropical cyclone and excess rainfall insurance policies with national social protection systems. Through an innovative model, financial support allows countries to top-up their sovereign insurance coverage on the condition that a fixed percentage of the payout is allocated for social assistance if and when policies are triggered.
“Recognising the limited fiscal space of Caribbean governments, we know that it is crucial to strengthen national systems to ensure that support reaches the people who need it most, when disaster strikes,” said Brian Bogart, Representative of the WFP Caribbean Multi-Country Office. “Hurricane Beryl’s impact was significant, and many people are still struggling to recover. WFP is committed to supporting strategies that assist people as they recover, without increasing the long-term debt burden of small island nations and derailing progress on national development goals.”
WFP first introduced insurance policy top-up agreements in Dominica in 2021. Since then, WFP has helped expand the model to Belize, Dominica and Saint Lucia, with support from the European Union, the Government of Canada and the Global Shield Financing Facility. The Canada-CARICOM Climate Adaptation has recently provided funding to include Antigua and Barbuda, Grenada, Jamaica and Saint Vincent and the Grenadines.
“In the face of increasing climate-related challenges, it is imperative that we strengthen our collaborative efforts to build resilience within our Caribbean communities,” said Isaac Solomon, Acting President of the Caribbean Development Bank. ” Innovative insurance models supported by CCRIF SPC and WFP are an effective method to get relief those most affected in a timely manner.”
“Canada was keen to build on the work that started in 2021,” said Abebech Assefa, Head of Cooperation for the Eastern Caribbean at Canada’s International Trade – Global Affairs Canada. “The idea to connect a portion of CCRIF SPC payouts to social protection systems helps ensure that these funds reach the most vulnerable people. The recent experience with Hurricane Beryl has provided an opportunity to put the concept to the test.”
Caribbean small island developing states (SIDS) are on the frontline of climate change. The WFP Caribbean Multi-Country Office was established in 2018 and has since supported governments in scaling-up climate solutions, including early warning systems, anticipatory action and insurance to protect food-insecure communities.
# # #
About WFP
The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability, and prosperity for people recovering from conflict, disasters, and the impact of climate change.
Follow us on X, formerly Twitter, via @wfp_media; @wfp_Caribbean
MCLEAN, Va., Feb. 11, 2025 (GLOBE NEWSWIRE) — Andesite AI (Andesite) today announced the General Availability of the bionic Security Operations Center (SOC), its human-AI collaboration product empowering cyber defense teams. Additionally, Andesite revealed that it secured an additional $23 million in capital as a second tranche of seed funding from General Catalyst and Red Cell Partners. The investment brings Andesite’s total funding to $38.25 million and is the result of the company’s ahead-of-schedule achievement of technology, customer acquisition, and revenue milestones.
Despite ballooning cybersecurity spending, security teams are overwhelmed. Analysts are drowning in alerts, struggling to interpret, prioritize, and act on neverending indicators while bouncing between fragmented tools and portals. SOC leaders face mounting pressure to prove ROI on ever-growing spending, while the rise of AI-powered threats leaves CISOs wondering if their teams will be able to meet the challenge.
Andesite’s bionic SOC is a breakthrough in human-AI collaboration for cybersecurity that elevates human insights and enables SOC teams to shift from reactively triaging alerts to proactively hunting threats in their networks. By connecting data silos, platforms, and tools across a SOC’s ecosystem, Andesite delivers analysts the context and visibility they need to make informed decisions, in an actionable output. This accelerates investigations and transforms security outcomes by empowering those who protect others to more effectively safeguard their organizations’ assets, people, and customers.
“At Andesite, we recognize that an organization’s competitive advantage lies in unleashing the full potential of its people,” said Andesite Co-Founder and CEO Brian Carbaugh, former Director of the CIA’s Special Activities Center. “Security analysts are irreplaceable: their intuitive pattern recognition, creative thinking, and ability to turn insights into action are crucial. Our promise to them is clear: Your expertise will be amplified. You will be focused on what matters. Your potential will be unleashed.”
Key product features include:
Context-aware AI unifies scattered data across organizational silos, delivering actionable insights to analysts
Evidentiary AI ensures complete visibility and auditability of machine-assisted decisions – no black boxes
Adaptive automation streamlines workflows from threat intelligence to automated response, optimizing security operations
Safe AI architecture gives teams confidence that sensitive data stays within predefined boundaries and isn’t used to train external AI models
Built-in enterprise-ready compliance, aligned with SOC 2 Type 1, NIST 800-53 (High), and NIST CSF requirements, enables smooth deployment in regulated environments
“Andesite’s technology frees up analysts from toggling between tools and learning countless query languages, so they can focus on hunting down threat actors,” said Chief Product Officer William MacMillan, former CIA CISO and former Senior Vice President of Infosec at Salesforce. “Our vision for the SOC is a symbiotic relationship between human and AI that elevates analysts of every skill level. For CISOs, this means not just better outcomes faster, but the ability to buy down more risk with the team they already have.”
“The convergence of human expertise and AI in cybersecurity operations represents a critical evolution in how enterprises approach threat defense,” said Andrew Braunberg, Principal Analyst at Omdia. “Solutions that decrease the time, complexity, and cost of integrating with existing security infrastructure, and avoid lengthy implementation projects, are key to realizing better ROI and transformative security outcomes, ultimately achieving the promise of AI.”
Andesite’s innovative approach has gained traction with partners across the national security, financial services, and healthcare sectors. Andesite will use the new funding to accelerate product development and scale its go-to-market initiatives.
“Analysts have expressed frustration that existing SOC tools don’t actually make their job easier,” added Alex Thaman, Chief Technology Officer. “We bring insights, scattered across data islands and buried in unstructured PDFs and wikis, to the edge of action. Andesite keeps the human in control, but upgraded – delivering the right data they need, when they need it, in a human-actionable format.”
To learn more about Andesite and schedule a demo, visit andesite.ai.
About Andesite: Andesite is delivering sustained advantage to cyber defense teams through technology and community. We spent decades defending our nation against sophisticated adversaries and founded Andesite to build products that empower those who protect others. Visit us at andesite.ai and follow us on LinkedIn.
Vaduz, Liechtenstein, Feb. 11, 2025 (GLOBE NEWSWIRE) — LCX, a regulated and compliant crypto exchange, continues to expand its presence within the Cardano ecosystem by launching the token sale for Profila’s native token, $ZEKE. This collaboration underscores LCX’s commitment to supporting innovative blockchain projects and driving adoption within the Cardano community.
Profila, a privacy-focused Web3 platform, empowers users with full control over their personal data while enabling brands to build direct, transparent relationships with their customers. Built on the Cardano blockchain, Profila leverages advanced privacy tools and AI-driven insights to redefine digital marketing and customer engagement. The $ZEKE token plays a central role in this ecosystem, rewarding users for sharing their data on their own terms and facilitating personalized interactions with businesses.
LCX’s strategic involvement in the Cardano ecosystem has been further solidified by supporting projects like Profila, offering a seamless and compliant platform for token sales. As a registered exchange under Liechtenstein’s Blockchain Act, LCX ensures a secure and transparent environment for participants looking to acquire $ZEKE tokens.
Key Highlights of the $ZEKE Token Sale:
Platform: LCX Token Sale Launchpad
Blockchain: Cardano
Utility: Rewards users for sharing data, facilitates personalized brand interactions, and enhances digital privacy.
Compliance: Conducted in accordance with regulatory standards to ensure security and transparency.
With this launch, LCX continues to position itself as the go-to platform for compliant token sales within the Cardano ecosystem, offering projects like Profila the infrastructure needed to scale securely.
About LCX LCX is the largest crypto exchange in Liechtenstein and one of the leading exchanges in Europe. As a regulated cryptocurrency exchange LCX.com has become one of the fastest growing digital asset spot exchanges for Euro (EUR), Bitcoin, Ethereum and hundreds of other cryptocurrencies. LCX was founded in 2018 and is offering solutions for compliant token issuance and RWA tokenization. LCX’s mission is to empower individuals and businesses with secure, innovative crypto solutions, revolutionizing finance through blockchain and enabling ‘Freedom of Wealth’. Learn more at www.LCX.com.
About Profila Profila is a Web3-based privacy and marketing platform built on the Cardano blockchain. It enables individuals to regain control of their personal data and engage with brands on their own terms, ensuring transparency, privacy, and fair compensation. Learn more at www.profila.com.
For more information, please contact:
LCX Media Relations Email: pr(at)LCX.com Website: LCX.com
Disclaimer: This press release is for informational purposes only and does not constitute legal, financial, or investment advice. LCX AG is registered as Trusted Technology Service Provider in Liechtenstein. No representation or warranty, either expressed or implied, is made as to the accuracy, completeness, or suitability of the information contained herein. Readers are advised to conduct their own research and consult with professional advisors before making any decisions regarding digital assets or related investments.
Washington, DC: On January 27, 2025, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Qatar.
Growth normalization after the 2022 FIFA World Cup continued, with signs of strengthening activities more recently. Real GDP growth is projected to improve gradually to 2 percent in 2024–25 supported by public investment, spillovers from the ongoing LNG expansion project, and strong tourism. Medium-term growth is expected to accelerate to 4¾ percent on average, boosted by the significant LNG production expansion and initial gains from implementing reforms guided by the Third National Development Strategy (NDS3). Headline inflation will likely ease to 1 percent in 2024 and converge to around 2 percent over the medium term.
With lower hydrocarbon prices, both the current account and fiscal surpluses narrowed in 2023, to 17 percent of GDP and 5½ percent of GDP, respectively. The twin surpluses moderated further in 2024. Over the medium, as Qatar’s LNG production expands massively, both the current and fiscal accounts will likely remain in surpluses, albeit declining as a share of GDP, as hydrocarbon prices are projected to fall.
Banks are well-capitalized, liquid, and profitable, with the capital adequacy ratio of close to 20 percent and return on equity of 14½ percent, respectively, in the third quarter of 2024. Since the implementation of QCB measures to reduce banks’ net short-term foreign liabilities, banks’ non-resident deposits declined significantly, and banks have lengthened the average maturity and diversified further the sources of foreign funding. The sector-wide NPL ratio remained broadly unchanged at slightly below 4 percent and the provisioning coverage ratio is relatively high at above 80 percent.
Qatar has started to implement the ambitious Third National Development Strategy (NDS3) to build a more diversified, knowledge-based and private sector-driven economy. Guided by NDS3, reform momentum has strengthened significantly, including to attract and retain high-skilled expatriate workers, foster innovation, promote public-private partnerships, and further improve the business efficiency. Qatar is well positioned to leverage digitalization and AI for productivity gains, and the nation’s climate agenda is advancing.
Risks to the outlook are broadly balanced. Main downside risks stem from the global headwinds, including a sharper-than-expected global growth slowdown, increased volatility in global financial conditions and commodity prices, and further worsening of geopolitical tensions. The regional conflict has had limited impact on Qatar but adds further to the downside risks through lower tourism and capital inflows, and more volatile hydrocarbon prices. Domestic downside risk stems mainly from further weaknesses in the real estate sector, although strong tourism and policy measures introduced in 2023 could mitigate the risk. Over the medium and long term, supply in the global natural gas market is expected to expand significantly, potentially putting downward pressure on prices. On the upside, sustained high hydrocarbon prices and accelerated NDS3 reforms would strengthen the outlook. However, if ambitious NDS3 initiatives lead to resource misallocation, both the public finance and growth prospect would be affected.
Executive Directors agreed with the thrust of the staff appraisal. They welcomed Qatar’s continued resilience to external shocks and its favorable medium-term outlook, driven by significant increases in LNG production and the reforms under the Third National Development Strategy. Directors agreed that maintaining prudent macroeconomic policies and accelerating reform efforts would further solidify macroeconomic stability and resilience to shocks while boosting prosperity.
Directors commended the authorities’ commitment to continued fiscal prudence and called for accelerating fiscal reforms. They recommended adopting a medium-term fiscal anchor to help ensure intergenerational equity, and reiterated the need to accelerate revenue diversification, particularly by introducing the value-added tax. Directors highlighted the importance of improving spending efficiency and composition, particularly by enhancing public investment management. They welcomed the ongoing efforts to strengthen fiscal institutions and adopt a full-fledged medium-term fiscal framework with enhanced fiscal risk management.
Directors supported the authorities’ efforts to maintain financial stability and deepen domestic financial markets, while encouraging them to consider undertaking a Financial Sector Assessment Program update. They welcomed the newly introduced risk-based supervision and recommended formalizing the financial safety net and continuing to adjust macroprudential policies to mitigate potential macro-financial risks. Directors encouraged the authorities to sustain their progress in fighting financial crimes.
Directors agreed that the exchange rate peg continues to serve Qatar well. They concurred that, as conditions allow, strengthening the operational framework would further enhance monetary policy transmission.
Directors supported the authorities’ strategy to build a more diversified, private sector-led, and knowledge-based economy. They recommended fostering innovation and business efficiency and enhancing human capital by attracting and retaining more high-skilled expatriate workers, improving Qatari nationals’ employment in the private sector, and further increasing female labor force participation. Directors agreed that aligning domestic energy prices with export prices would benefit public finances and support climate goals. They also encouraged the authorities to close remaining data gaps, with the help of IMF capacity development.
It is expected that the next Article IV consultation with Qatar will be held on the standard 12-month cycle.
Qatar: Selected Macroeconomic Indicators, 2021-25
(Quota: 735.1 million SDRs, November 2024)
(Per capita income: U.S.$69,541, 2023)
(Life expectancy at birth: 81.6 years, 2022)
(Population: 3.1 million, 2023)
Projections
2021
2022
2023
2024
2025
Production and prices
(percent change)
Real GDP (2018 prices)
1.6
4.2
1.2
1.7
2.4
Hydrocarbon 1/
-0.3
1.7
1.4
1.4
3.0
Nonhydrocarbon
2.8
5.7
1.1
1.9
2.1
CPI inflation (average)
2.3
5.0
3.0
1.0
1.4
Public finances
(percent of GDP)
Revenue
29.6
34.7
32.8
26.2
28.7
Expenditure
29.4
24.3
27.3
25.9
26.2
Current
18.3
15.6
17.5
17.2
17.5
Capital
11.1
8.8
9.7
8.7
8.7
Central government fiscal balance
0.2
10.4
5.6
0.3
2.5
Money
(percent change)
Broad money
1.4
17.4
1.1
4.1
5.6
Credit to private sector
9.5
7.4
4.9
5.5
6.1
External sector
(percent of GDP unless otherwise noted)
Exports
58.7
68.6
60.4
58.7
60.1
Imports
34.1
31.6
33.9
33.4
35.1
Current account balance
14.6
26.8
17.1
16.6
15.5
in billions of U.S. dollars
26.3
63.1
36.5
37.0
35.2
External debt
161.4
115.5
123.2
118.1
116.8
Central Bank’s reserves
23.5
20.1
24.2
24.5
25.4
in months of next year’s imports
6.6
7.7
8.1
8.0
7.9
Exchange rate (per U.S. dollar) 2/
3.6
3.6
3.6
3.6
3.6
Real effective exchange rate (percent change) 3/
-2.6
6.5
0.2
-0.5
…
Sources: Qatari authorities; and IMF staff estimates and projections.
1/ Includes crude oil, natural gas, propane, butane, and condensates.
2/ January 6, 2025
3/ November 2024.
[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.
[2] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.
The interdiction by the Sentinel-class fast-response cutter USCGC Emlen Tunnell (WPC-1145) represents CTF 150’s first drug seizure since New Zealand assumed command Jan. 15.
The cutter’s boarding team discovered and seized 2,357kg of hashish from the vessel. After weighing and documenting the haul, the crew properly disposed of the narcotics.
Commodore Rodger Ward, commander of CTF 150, said he’s proud of the team effort that went into making this interdiction a reality after only a few weeks in command.
“Our command is a small cog in a system focused on interdicting illicit trafficking on the high seas,” Ward said. “This is a team effort and this bust would not have been possible without the support of the 46 nations who make up the Combined Maritime Forces.”
Ward noted that every bust we make reduces the flow of finances to terrorist organizations. “This is why we’re here, to contribute to maritime security and protect the rules-based international order,” he said.
Emlen Tunnell is forward deployed to Bahrain. The fast response cutter is part of a contingent of U.S. Coast Guard ships operating in the region under Patrol Forces Southwest Asia (PATFORSWA). PATFORSWA deploys Coast Guard personnel and ships alongside U.S. and regional naval forces throughout the Middle East.
CTF 150 is one of five task forces under Combined Maritime Forces, the world’s largest international naval partnership. CTF 150’s mission is to deter and disrupt the ability of non-state actors to move weapons, drugs and other illicit substances in the Indian Ocean, the Arabian Sea and the Gulf of Oman.
Combined Maritime Forces is a 46-nation naval partnership upholding the international rules-based order by promoting security and stability across 3.2 million square miles of water encompassing some of the world’s most important shipping lanes.
Source: United Kingdom – Executive Government & Departments
Welsh Secretary Jo Stevens chaired the eleventh Tata Steel/Port Talbot Transition Board in February 2025.
The Tata Steel / Port Talbot Transition Board met on 6 February 2025.
The Secretary of State for Wales and Chair of the Transition Board, Rt Hon Jo Stevens MP, sought endorsement from the Board to announce £8.2 million for the South Wales Industrial Transition from Carbon Hub (SWITCH). This project will support more than 100 jobs and generate more than £87 million for the South Wales economy, supporting the Government’s Plan for Change and economic growth mission.
This is the first project to receive funding as part of the growth and regeneration projects in Port Talbot. A collaboration between Swansea University, Cardiff University and the University of South Wales, with industry and public sector partners. The Transition Board funding is in addition to the £20 million from the Swansea Bay City Deal. SWITCH will deliver research to support and join up the decarbonisation transition. The announcement of further growth and regeneration projects are due to follow.
Today’s release of money is the fourth announcement from the UK Government’s £80m Tata Steel / Port Talbot Transition Board fund which, since last July, has announced £51 million to support individual steelworkers and businesses in Tata Steel’s supply chain to protect jobs and grow the local economy.
The Board also discussed mental health support, and further information on the interventions being developed to support mental health in the community will be announced at the next Transition Board meeting on 27th of March, following a mental health pilot at the Neath Port Talbot Council Support Hub in Aberafan Shopping Centre.
The Board also received updates on:
Tata Steel UK’s decarbonisation programme;
The Department of Business and Trade’s plans for a steel strategy;
The Community Union Support Hub for affected workers; and
The Transition Board funds that have already been announced, including applications received for the Supply Chain fund, and support being provided from the Employment and Skills fund.
Those in attendance included: Rt Hon Jo Stevens MP, Secretary of State for Wales; Rebecca Evans MS, Cabinet Secretary for Economy, Energy and Planning in the Welsh Government; Sarah Jones MP, Minister of State in the Department for Energy Security and Net Zero and the Department; Cllr Steve K Hunt, Leader of Neath Port Talbot Council; Frances O’Brien, CEO of Neath Port Talbot Council; Rajesh Nair, CEO of Tata Steel UK; Stephen Kinnock, MP for Aberafan Maesteg; David Rees, MS for Aberavon; Tom Giffard, MS for the region of South Wales West; Luke Fletcher MS for the region of South Wales West; Sarah Williams-Gardener; Anne Jessopp CBE; Katherine Bennett CBE independent members of the Board; Alun Davies, National Officer for Steel & Metals, Community Union and Jason Bartlett, Regional Officer for Unite the Union.