NewzIntel.com

Category: Economy

  • MIL-OSI USA: This Week in NJ – November 1st, 2024

    Source: US State of New Jersey

    Governor Phil Murphy, Lieutenant Governor Tahesha Way, and Congresswoman Bonnie Watson Coleman Launch New Jersey’s Commemoration of America’s 250th Anniversary Celebration

    At Monmouth Battlefield State Park, Governor Phil Murphy, Lieutenant Governor Tahesha Way, and Congresswoman Bonnie Watson Coleman launched New Jersey’s celebration of the nation’s 250th anniversary, kicking off a multi-year schedule of events and projects that will take place through the nation’s semiquincentennial. As a leader in education, technology, AI, film, science, and more, New Jersey will celebrate its revolutionary legacy and its critical role in American history.

    “New Jersey is not just home to revolutionary history—we are, to this day, the birthplace for revolutionary possibilities,” said Governor Murphy. “From our eclectic culinary landscape, to our leadership in emerging industries like clean-energy and generative Artificial Intelligence, to our steadfast reputation as one of the most diverse states in the nation, New Jersey is where the future is being built. As we launch New Jersey’s official Commemoration of America’s 250th Anniversary Celebration—and prepare to welcome in visitors from across the globe—we are going to unite together around our core, American values every step of the way.” 

    “Our nation’s rich and diverse history has unfolded over the last 250 years,” said Lieutenant Governor Tahesha Way. “In my role as Secretary of State, I oversee the New Jersey Historical Commission, and I am thrilled to celebrate our country’s layered history—much of which has roots here in New Jersey. This shared legacy reflects our resilience and strength as united Americans, standing together through generations.” 

    “The Battle of Monmouth was a vital turning point to winning our nation’s independence nearly 250 years ago. So much of the story of our nation’s founding took place right here in New Jersey,” said Congresswoman Bonnie Watson Coleman. “As a member of the Semiquincentennial Commission, I’m so excited to help New Jersey show the rest of the country why we’re known as the ‘Crossroads of the American Revolution.’”

    The launch event included musical accompaniments by the Washington Crossing Fifes and Drums; a posting and retirement of the colors by reenactors of the Continental Army; the Pledge of Allegiance led by Ava Porta, a fifth grade student from Taylor Mills Elementary School in Manalapan; the National Anthem performed by Melissa Walker, an acclaimed jazz vocalist and recording artist from Montclair; and an essay read by Malay Gupta, an eighth grade student and first-place winner in America’s Field Trip scholastic contest at John Adams Middle School in Edison.

    READ MORE

    Governor Murphy Joins NJ TRANSIT to Showcase Brand New Multilevel Rail Cars

    Governor Phil Murphy and NJ TRANSIT President & CEO Kevin S. Corbett previewed the next generation of multilevel rail cars, modernizing the fleet which will significantly improve reliability, capacity and customer comfort. The latest generation of multilevel rail cars was unveiled at an event at NJ TRANSIT’s Meadows Maintenance Complex (MMC) in Kearny.

    “Providing modern, reliable equipment is a critical component to improving New Jersey’s infrastructure, particularly with regard to public transit,” said Governor Phil Murphy. “These multilevel rail cars are equipped with innovative features that meet the everyday needs of our commuters. Upon their completion, these upgraded rail cars will expand access to reliable and comfortable transportation for NJ TRANSIT riders.”

    “NJ TRANSIT is committed to improving every aspect of the customer journey, and the 174 new multilevel rail cars will help achieve that by significantly improving reliability, increasing capacity and enhancing the onboard experience,” said NJ TRANSIT President & CEO Kevin S. Corbett. “NJ TRANSIT is grateful to Governor Murphy, the New jersey legislators and our partners at the Federal Transit Administration (FTA) for delivering the necessary funding to ensure our system continues to meet the growing demands of our region, and the expectations of our customers.” 

    Governor Murphy and Corbett previewed the first of 174 Multilevel III cars during an event at the agency’s MMC in Kearny. They highlighted many of the new car’s amenities, including USB charging ports and onboard information displays. The new cars, manufactured by Alstom Transportation in Plattsburgh, NY, will offer a range of benefits over the older, 40+ year-old single level cars they will replace, including dramatic improvement in mechanical reliability. The vehicle maximum speed will increase to 110 miles per hour. The cars, which will begin entering service mid-next year, will be compliant with the latest federal regulations, including Positive Train Control.

    READ MORE

    Governor Murphy Holds Roundtable Discussion on Expanding Access to Public Contracting Opportunities for Historically Marginalized Businesses

    Governor Phil Murphy held a roundtable discussion where he met with legislators and stakeholders to gather input on potential legislative remedies and ongoing administrative initiatives to eliminate disparities in the public procurement process and create a more equitable business environment for Minority and Women-Owned Business Enterprises (MWBEs) in New Jersey.

    The discussion follows the release of a comprehensive statewide disparity study earlier this year – the first since 2005 – which reviewed statewide procurement data relating to goods and services, professional services, and construction between 2015 and 2020, and found statistically significant disparities in the awarding of public contracts to MWBEs. The study was necessary so that the State had a legal basis for addressing these gaps. This discussion also follows a series of meetings over the past months led by the Governor’s Office and the Department of Treasury with community partners, faith leaders, labor, and diverse business chambers across the state.

    “One of New Jersey’s best attributes has always been its vast diversity. Our state is home to people of so many different backgrounds, who all deserve the opportunity to succeed in their chosen field; however, lingering inequities continue to create barriers to entry for our minority and women-owned businesses that want to contract with our state government. This is unacceptable and, with the help of our lawmakers and business community, we will take action,” said Governor Murphy. “Today’s meeting underscores our steadfast commitment to building a stronger, fairer, more equitable, and more inclusive New Jersey. I look forward to continuing this conversation and working with our partners in the Legislature and our state’s business community to create a system where all businesses can thrive.”

    READ MORE

    Governor Murphy Announces Creation of Economic Council

    Governor Murphy signed an Executive Order establishing a new Economic Council, which will be supported by a newly established Development Coordination Committee. Under the executive order, the Economic Council will provide a regular forum for the business community and state government to discuss, collaborate, and solve issues important to the public and private sectors, and stimulate economic growth and prosperity. The new Development Coordination Committee will support the Council’s work in advancing development projects that require multiple state, county and local government approvals. 

    “The Economic Council will ensure that we continue to have a healthy collaboration between the business community and the state government,” said Governor Murphy. “Deepening our Administration’s strong relationship with various sectors across our state will stimulate growth within our economy. I look forward to the forum for ongoing dialogue, collaboration, and problem-solving to advance our shared economic goals.” 

    Since the beginning of the Murphy Administration, state officials have worked with legislative partners and industry stakeholders on policies to improve the role and function of the government in facilitating economic development. Since 2018, New Jersey has seen small businesses increase by over 40,000 or 19%, despite the effects of the global COVID-19 pandemic.

    The Economic Council’s co-chairs will be Deputy Chief of Staff for Economic Growth Eric Brophy and Chief Executive Officer of the New Jersey Economic Development Authority Tim Sullivan. The co-chairs will designate representatives from industry to participate in working group discussions with the Council. Along with the co-chairs, the Council will also consist of the Governor’s Chief of Staff, Chief Counsel, Chief Policy Advisor, the State Treasurer; and the Executive Director of the Business Action Center, or their respective designees.

    READ MORE

    Governors of New Jersey, Pennsylvania, Illinois, Maryland, and Delaware Issue Joint Letter to Grid Operator PJM

    Governor Phil Murphy joined Pennsylvania Governor Josh Shapiro, Illinois Governor JB Pritzker, Maryland Governor Wes Moore, and Delaware Governor John Carney in issuing a letter to PJM Interconnection, the grid operator for New Jersey and the aforementioned states. The governors have called on PJM to take urgent action to address the increasing cost of electricity bills after the record-high prices coming out of the region’s capacity auction.

    The letter addresses issues that impact the path to renewable energy goals, including market structure and the efficacy of the generator interconnection process. In the recent PJM capacity auction for the 2025/2026 Delivery Year, clearing prices surged to almost 10 times higher than the previous year, leaving residents and businesses with much higher bills. Serious flaws with the rules this auction contributed significantly to these unnecessarily high prices. 


    “PJM must take action now to address record high prices,” said Governor Murphy. “In New Jersey, we’re doing our part by bringing new resources to the market and making electricity more affordable for families and businesses as we look to a clean and resilient energy future. However, our grid operator must work in lockstep with the states and recognize that the market isn’t responding quickly enough due to current conditions of slow interconnection. I’m looking forward to working together to stop customers from facing unnecessarily high utility bills, along with facilitating the development of increased capacity and reliability, which will stimulate economic growth and limit the effects of climate change.”

    READ MORE

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Talk Money fortnight is here to help you get more and spend less

    Source: City of York

    Published Monday, 4 November 2024

    The week after the Budget is announced, City of York Council and partners are holding a fortnight of events and activities to help residents with their own finances.

    Talk Money Fortnight starts today and runs from 4-15 November. Drop-in events and advice sessions will be held for any residents facing financial struggles. All are welcome to get impartial, free and discreet information and support to maximise their household income, spend less and get good advice.

    Residents are urged to use an online, confidential and impartial benefits calculator so they can claim what they’re eligible for and don’t miss out on the millions of pounds in unclaimed benefits nationally.

    Those of State Pension age can check if they’re eligible for and claim Pension Credit which unlocks other benefits – even if they own their home and have savings, and any residents struggling to pay Council Tax can get advice on claiming Council Tax Support. For those worried about rising fuel bills, there’s information on grants for energy saving measures, and how to stay online by accessing lower broadband and phone tariffs.

    Eligible families can get help with childcare and claim free school meals which bring further help with uniforms and extra money to support the child’s schooling.

    Pauline Stuchfield, Director of Housing and Communities at City of York Council, said:

    It’s never too late to see if there are ways to boost your income and claim all you’re entitled to: we’re here to help you do that during Talk Money fortnight and year-round.”

    Talk Money Week is a national initiative that promotes discussions about money matters, such as budgeting, saving, debt management, and financial planning.

    Check out and visit the drop-in events listed here and a wealth of year-round advice, ideas and information from partners at www.livewellyork.co.uk/talkmoney. 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New skills programme seeks to link employers and students

    Source: City of Manchester

    Talented students at schools and colleges in Manchester are being connected to future employers helping to cultivate new opportunities as they look to enter the workforce.

    The BREE (Building Relationships with Employers and Educators) project has been launched by Manchester City Council to bring together employers, educators and students to help them succeed in their future career path. 

    The first opening event was held in the city on Wednesday, 30 October, where representatives from businesses, schools and colleges were present to celebrate the initiative alongside the Council Leader Cllr Bev Craig, as well as partner organisations and stakeholders. 

    As the Council works towards Manchester becoming accredited as a Child Friendly City, it is important the city develops these relationships to give young people the best possible start in life, helping to develop skills and talent that will help them succeed in the years to come. 

    Businesses across Manchester are being called to join the project and lend their expertise and voice to growing this community, and establish strong bonds between the education sector and further work and training. It is a simple process, completed via a form on the Council’s website. 

    Councillor John Hacking, Executive Member for Skills, Employment and Leisure said: “We know how important it is to provide young people the options and pathways to a future career. Whether it is sparking interest in a trade or sector, to showing what extra training is on offer for them we want to ensure there are no doors left unopened for school and university leavers. 

    “Work and Skills is a hugely important part of the work the Council does, working in tandem with our wider economic strategy, we want to see more people getting into well-paying jobs, helping to grow our city and economy in an inclusive and progressive way.” 

    MIL OSI United Kingdom –

  • MIL-OSI: Primech Holdings and Primech AI Forge Strategic Partnerships with Unity Group for Advanced Energy and Robotics Solutions

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Nov. 04, 2024 (GLOBE NEWSWIRE) — Primech Holdings Limited (Nasdaq: PMEC) (“Primech” or the “Company”) and its subsidiary, Primech AI, are pleased to announce new strategic partnerships with Unity Group Holdings International Limited (1539.HK) (“Unity Group”), a renowned provider of energy solutions listed on the Hong Kong Stock Exchange. These partnerships, formalized through separate Memorandums of Understanding (MOUs), aim to harness Unity Group’s energy expertise and Primech AI’s robotic innovations to drive sustainability and technological advancements in their respective fields.

    Unity Group (https://www.unitygroup.eco) operates in over 20 countries, offering innovative energy solutions that significantly reduce carbon footprints and operational costs for numerous global clients. This collaboration aligns with Primech’s commitment to environmental stewardship and marks a significant step in integrating sustainable practices and advanced technologies across its operations.

    Details of the Partnerships:

    • Primech Holdings Ltd. will collaborate with Unity Group to explore and implement cutting-edge energy solutions in Singapore, focusing on enhancing energy efficiency within its extensive facilities management operations.
    • Primech AI and Unity Group will cooperate on the business development and trial deployment of the Hytron restroom cleaning robot into major properties in Dubai. This initiative aims to revolutionize facility maintenance with cutting-edge robotic technology, improving efficiency and reducing the environmental footprint of cleaning operations.

    They will expand Unity Group’s technological footprint in Singapore and beyond, setting new standards for international collaboration in energy and robotic solutions.

    Mr. Kin Wai Ho, CEO of Primech Holdings Limited, commented, “We are proud to partner with Unity Group to pioneer the integration of sustainable energy solutions and advanced robotics in our operations. These initiatives are pivotal as we continue to push the boundaries of what is possible in our industry, ensuring that we remain at the forefront of both environmental responsibility and technological innovation.”

    Mr. Mansfield Wong, Co-founder, Chairman, and CEO of Unity Group, stated, “Our collaboration with Primech Holdings and Primech AI represents a significant opportunity to leverage our expertise in energy solutions alongside Primech’s innovations in robotic technologies. We are excited about the potential of our joint efforts to set benchmarks in sustainability and operational efficiency globally.”

    About Unity Group Holdings International Limited
    Founded in 2008, Unity Group became the first energy service company to be listed on the Hong Kong Stock Exchange. At the core of its operations is the Energy Management Contract (EMC) business model, which implements customized solutions designed to achieve optimal energy efficiency and maximize returns for clients. Unity Group employs industry-leading, effective, and practical research methodologies. These methodologies span innovative green technologies, data analysis, and machine learning. The outcomes of its research and development efforts manifest in its uniquely versatile, appropriate, and actionable green technology solutions. Currently, Unity Group operates in Mainland China, Malaysia, and the Middle East.

    About Primech Holdings Limited
    Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore, with expanding operations in Malaysia. With a legacy of excellence and innovation in the facility services industry, Primech’s operating subsidiary, Primech A & P offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Additionally, CSG Industries Pte Ltd, a subsidiary of Primech Holdings, manufactures and supplies various high-quality cleaning products under its brand, extending its reach and capabilities within the industry. Known for its commitment to sustainability and cutting-edge technology, Primech integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.    

    About Primech AI
    Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    Company Contact:
    Email: ir@primech.com.sg

    Investor Relations Contact:        
    Matthew Abenante, IRC
    President                                        
    Strategic Investor Relations, LLC                                         
    Tel: 347-947-2093
    Email: matthew@strategic-ir.com

    The MIL Network –

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

    Source: International Monetary Fund

    November 4, 2024

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

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

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

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

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

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

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

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

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

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

    @IMFSpokesperson

    MIL OSI Economics –

  • MIL-OSI United Kingdom: ILO Governing Body 352: UK Statement on development cooperation in Palestine

    Source: United Kingdom – Executive Government & Departments 3

    POL/3 – Enhanced programme of development cooperation for the occupied Arab territories. Delivered at 352nd International Labour Organization Governing Body.

    Location:
    Geneva
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    Chair,

    1. At this meeting last year I spoke of the suffering experienced by Palestinians and Israelis since the horrific events of 7 October. One year on, the situation in Gaza is intolerable. As we all know, over 40,000 people have now been killed and at least 100,000 injured. More than 100 people are still held. Over 85% of Gaza is subject to evacuation notices. More than 90% of the population has been displaced. The onset of winter will exacerbate already dire needs amongst the population. The fighting must end, the hostages must be freed, and the aid must flow safely and freely. And we must work with fresh vigour towards a two-state solution in which both Palestinians and Israelis can live in safety and security.

    2. The ongoing conflict has had a profound impact on the Palestinian economy, not only in Gaza, but also in the West Bank. The private sector is key to economic growth and stability in the Occupied Palestinian Territories. So, we are concerned that ILO surveys report that private sector workers are bearing the brunt of the crisis with substantial job losses and reductions in full-time employment and wages. The report also details that almost 99 per cent of West Bank enterprises experience challenges that have impacted their operations, production capacity and sales and profits.

    3. The UK has strengthened our support to the private sector in light of these challenges, including providing assistance to identify new markets for their goods and services, and supporting measures to reduce operating costs for Palestinian businesses. We urge Israel to remove restrictions on trade to sustain Palestinian jobs and support the recovery of the Palestinian private sector.

    4. Israel’s revocation of 200,000 permits for Palestinian workers in Israel is seriously impacting the Palestinian economy, removing a key income source.  While we recognise legitimate Israeli security concerns, we nonetheless urge the Israeli government to reinstate work permits at scale, as well as reducing barriers to Palestinian trade and supporting private sector recovery. This is in the interest of both parties.

    5. The agricultural sector is of vital importance to the Palestinian labour market, particularly the olive harvest which provides an income for around 90,000 families. Israeli restrictions, in addition to record levels of settlement expansion and settler violence, are significantly undermining this sector. We call on Israel to ensure that all Palestinians in the West Bank can participate in the olive harvest and benefit from their olive trees. International law obliges Israel to protect Palestinians and not to obstruct their economic development.

    6. Chair, we commend the actions of ILO staff in the Occupied Palestinian Territories, the continued roll out and expansion of the emergency response programme, and the ILO’s close collaboration with other UN partners.

    In conclusion, we can support the decision point with the amendments tabled by the Arab Group.

    Thank you, Chair.

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

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

    Source: IMF – News in Russian

    November 4, 2024

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

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

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

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

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

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

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

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

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/11/02/pr-24405-the-gambia-imf-staff-reaches-sla-on-the-2nd-rev-of-the-ecf-arrangement

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA: UConn Forum Draws Top Minds to Brainstorm Ways to Grow Connecticut’s Economy

    Source: US State of Connecticut

    Scores of esteemed industry leaders, researchers, entrepreneurs, and public officials came together at UConn Storrs recently to share ideas on combining their organizations’ energy and expertise to grow a robust, sustainable Connecticut economy.

    “UConn Forum: Economic Engine of a Thriving Connecticut” featured discussions on driving the state’s economy through several key growth areas including advanced manufacturing, sustainable energy, fintech, biotech, quantum computing, artificial intelligence, and other realms.

    Panelists and participants praised the Oct. 31 event as a unique opportunity to learn about innovations in various industry sectors and inspire ideas for collaboration, including by drawing on UConn expertise.

    With an annual impact of $8.5 billion on the state’s economy, UConn takes its responsibilities seriously to help drive Connecticut forward, President Radenka Maric told the crowd in welcoming remarks.

    That includes sharing its research expertise, helping foster startup businesses and technologies, ensuring its graduates are entrepreneurial and workforce ready, and doing all within its power to keep them in Connecticut to build their careers and lives.

    A common theme throughout the day’s discussions was Connecticut’s innovative spirit and enviable strengths, including a well-educated workforce, diverse population, strong schools, family-friendly quality of life, and innovation-oriented business ecosystem.

    Forum participants also agreed it’s a perfect time to accelerate the collaborations between industry and higher education – particularly as Connecticut is regaining population lost during the recession; has seen a noteworthy jump in business startups; and is developing new technologies in several fields.

    “What we’re seeing is that the trends have reversed in a pretty meaningful way. People are betting on Connecticut with both their wallets and their feet,” said keynote speaker Daniel O’Keefe, commissioner of the Connecticut Department of Economic and Community Development (DECD).

    He said the state had the 19th best-performing economy nationwide in the last two years. That’s a major turnaround from the 2000s-era recession in which Connecticut became one of only three states – including Wyoming and Mississippi – whose economies contracted and became smaller on an inflation-adjusted basis.

    As Connecticut’s manufacturing and national defense-related industries bounced back, so did the state – supplemented by growth in areas such as technology and software information, and other emerging industries such as those discussed at the UConn forum.

    “This is a state where innovation happens literally every day. You don’t hear about it as much as you do in places like Silicon Valley because the innovation is taking place not only in our startups, but also in our incredibly large companies,” O’Keefe said.

    Several new collaborations also have immense promise, such as the QuantumCT public-private partnership led by UConn and Yale.

    UConn President Radenka Maric hands a proclamation from Connecticut Governor Ned Lamont to Lee Langston, professor emeritus of mechanical engineering at UConn, during the “UConn Forum: Economic Engine of a Thriving Connecticut” event in the Rowe Commons ballroom on Thursday, Oct. 31, 2024. (Sydney Herdle/UConn Photo)

    That initiative aims to win federal funding to transform Connecticut into the nation’s leading accelerator of quantum technologies. The proposal recently advanced to the competition’s next stage, and marks the first time that UConn and Yale have partnered on an initiative of this scope.

    That kind of collaborative thinking underscored most of the forum’s panels, in which the speakers discussed the importance of addressing society’s emerging needs for sustainable clean energy, effective and affordable pharma products, innovative use of AI, or other topics.

    The forum’s guests also gained inspiration from the entrepreneurial history of the Mashantucket Pequot Tribal Nation as shared by its chairman, Rodney Butler ’99 (BUS).

    Having endured generations of forced assimilation and poverty, its members survived economically by selling timber, maple syrup, and other goods until the tribe gained federal recognition in 1983, he said.

    With the ability to diversify into more lucrative areas, the tribe opened a high-stakes bingo hall in 1986 and, in 1992, it opened Foxwoods Resort Casino – now the world’s largest such gaming and entertainment venue.

    Today, the tribe’s annual economic impact in the state is about $1 billion, and it has expanded into the hospitality business, golf courses, real estate holdings, hotel and golf course development, a pharmaceutical network, sports betting, internet gaming, and other ventures.

    It’s a far cry from the early days of selling handmade baskets, picking berries, and hunting snakes to survive economically. The Pequot tribe and UConn have also partnered on several projects, including the development of its hydroponic Meechooôk Farm; research into responsible gaming; and various academic and cultural endeavors.

    “The reason we do all of it, and the reason we’re in this room, is to create a thriving and sustainable community,” Butler told the forum’s attendees. “Ours is at Mashantucket. In this room, it’s about Connecticut and dare I say, all of southern New England.”

    Also as part of the forum, Maric presented a proclamation from Gov. Ned Lamont to UConn Professor Emeritus Lee Langston ’60 (ENG), one of UConn’s most accomplished engineering innovators.

    His career included helping to develop the fuel cells that powered Apollo 11 to the moon. He also was part of a team that helped install the first solar panels at the White House during the Carter Administration, and pioneered gas turbine technologies now used worldwide, including at UConn’s Cogeneration (CoGen) Central Utility Plant.

    Langston joined UConn in 1977 as a mechanical engineering professor after more than a decade at Pratt & Whitney. He also served a year as the interim dean of the School of Engineering (now a college), later retiring from UConn in 2003 but remaining active as a professor emeritus.

    “His contributions to science and society are immeasurable,” Maric said in presenting the proclamation, adding that she first learned of his expertise in sustainable energy when she was studying for her Ph.D. in Japan.

    Maric said the legacy of innovators such as Langston, along with the vision of people at the economic development forum and throughout the state, will be key to its future.

    “We make the impossible possible in Connecticut. We are leaders and will continue to lead, and anyone who says we can’t do it in Connecticut will be proven wrong,” she said.

    MIL OSI USA News –

  • MIL-OSI Global: Political bickering and policy uncertainty take a toll on business investment, research shows

    Source: The Conversation – USA – By Charles Sims, Professor of Economics, University of Tennessee

    Factionalism isn’t great for the bottom line. Sefa Ozel/E+ via Getty Images

    Partisan squabbling isn’t just annoying – it’s also bad for business.

    That’s what my colleagues and I found in a recent study on how uncertainty in environmental policy affects business investment.

    First, we analyzed more than 300 million newspaper articles, looking for keywords related to environmental policy uncertainty. We found that this uncertainty spikes around election seasons and has nearly doubled over the past decade.

    Then we looked at business investment rates – a common way to gauge a company’s financial health – at companies in affected sectors, such as those in the agriculture, mining, energy and automotive industries. We found that environmental policy uncertainty lowered those companies’ business investment rates by 0.010%.

    That might not sound like a lot, but as economists like me know, small sums add up over time.

    For example, the rise in environmental policy uncertainty in the run-up to the 2008 presidential election was linked with a one-time drop of the investment rate of 25% for companies affected by environmental policy, we found. This effect was larger than the uncertainty associated with defense, health and finance policy.

    But my team also found a silver lining. Policy uncertainty had much less of an effect on business investment when control of Congress was divided and policy changes required bipartisan support, we discovered.

    When the same political party controlled both chambers of Congress, environmental policy uncertainty was associated with a 0.013% decrease in investment rates. But when Congress was split, this decrease shrank to a much smaller 0.002%.

    Why it matters

    Because policy uncertainty tends to spike around elections, our results suggest that the current political environment is creating headwinds for business investment.

    Our study also suggests that policies designed to spur business investment may be less effective than previously thought, because of the uncertainty they introduce.

    Take, for example, the Inflation Reduction Act, passed in 2021, and the bipartisan infrastructure law of 2022. Both were crafted to encourage investment in clean-energy technologies.

    But uncertainty over whether these packages would pass in the first place – and, if so, what these policies would include – may have deterred investment before they went into effect. And uncertainty about what aspects of the laws will continue after the election could also depress business investment.

    A degree of uncertainty may be built into the democratic process. After all, the faster and more secretive a government is, the less accountable it is to the public. If you think of it that way, some uncertainty is an unavoidable cost of a healthy policymaking process.

    Our study puts a price tag on these costs and reminds policymakers that political infighting is a drag on the economy. Our results do suggest one promising path forward: bipartisanship.

    What’s next

    Because there’s so much variety in environmental policies, our team is now doing research to see whether businesses respond differently to uncertainty in “carrot” policies – such as subsidies or tax breaks – versus “stick” policies, such as fines or other punishments.

    Answering this question will help policymakers minimize the effects of uncertainty.

    It’s also an open question whether newspaper articles convey information to business leaders or simply reflect the information they already have. If it’s the latter, media coverage may not be a great measure of the uncertainty businesses face.

    To address this concern, we’re working to develop ways to measure uncertainty based on earnings call transcripts instead of newspaper articles. These could be a more direct way to gauge the uncertainties influencing business decisions.

    The Research Brief is a short take about interesting academic work.

    Charles Sims does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Political bickering and policy uncertainty take a toll on business investment, research shows – https://theconversation.com/political-bickering-and-policy-uncertainty-take-a-toll-on-business-investment-research-shows-242657

    MIL OSI – Global Reports –

  • MIL-OSI Global: I’m a Muslim immigrant and a psychiatrist living in Michigan – I haven’t decided how to vote yet

    Source: The Conversation – USA – By Farha Abassi, Assistant Professor of Psychiatry, Michigan State University

    My three daughters and I arrived in Michigan from Pakistan in 2000.

    Moving here was my choice, and I followed the legal process. Before the move, I had often been to the United States. I was familiar with the culture and spoke fluent English, so I thought I was prepared.

    Resuming my career as a physician in the U.S. was arduous, but I finally passed all the qualifying exams and completed a psychiatry residency at Michigan State University in 2006. After finishing my studies, I stayed on as faculty.

    Of course, there is nothing new or particularly unique about my family’s experience. Immigration, whether it is out of choice or forced by conflict, has always been part of the American experience. After all, the U.S. Constitution was signed by seven first-generation immigrants.

    Experts will tell you that immigration makes our country stronger economically, culturally and in fields like science and medicine. Since I’m a doctor, I’m well aware that 26% of licensed U.S. physicians and surgeons are immigrants.

    But it is also true that immigrants like me face stresses that harm our
    psychical and mental health.

    I teach cultural psychiatry to medical students and residents, specifically how to provide culturally appropriate care to Muslim patients. After more than 20 years in Michigan, I’m deeply rooted in the Muslim and immigrant community, and I’ve seen firsthand how anxious and uncertain my community is about the 2024 presidential election.

    Panic attacks and depression

    Republican presidential candidate Donald Trump has called immigrants “bloodthirsty criminals” and the “most violent people on Earth.” He claims that immigrants were “poisoning the blood of our country.” Research shows, and I’ve seen personally, how this kind of talk can cause anxiety and depression in immigrants both undocumented and legal.

    Undocumented immigrants and their families, who live in precarious conditions and in fear of being deported, are especially vulnerable to Trump’s calls for mass deportations.

    History has taught us that a politician’s hateful words can lead to violence.

    In the first half of 2024, the Michigan Chapter of the Council on American-Islamic Relations documented 239 complaints of discrimination against Muslims, an 81% increase over the same period in 2023. In the report, CAIR-MI Executive Director Dawud Walid attributed the uptick to “policies of elected officials, rhetoric of candidates running for office, along with victim blaming by some political pundits.”

    Adding to the situation are the deepening crises in the Gaza Strip and Lebanon, which are making Muslims in Michigan, especially those with relatives in the Middle East, reel with palpable grief.

    This rise in Islamophobia and fear of an uncertain future is taking a toll. American Muslims are twice as likely to attempt suicide compared with people from other faiths.

    Anxiety in the voting booth

    Like 73% of all Americans, immigrants are anxious about the election.

    With the politicization of baseless claims of undocumented immigrants voting, the fact is that naturalized citizens – who have every right to take part in the election – are a formidable voting bloc, making up 1 in 10 of the nation’s eligible voters and about 5% in Michigan.

    What’s more, naturalized citizens tend to vote at higher rates than native-born citizens.

    Still, for many Muslims in Michigan, it is hard to know how to vote this year. I don’t trust either of the major parties.

    Michigan’s Muslims are feeling devalued and disenfranchised.

    A key Arab American political action committee based in Michigan refused to endorse either candidate this cycle. Although the PAC typically backs Democrats, this year it said “neither candidate represents our hopes and dreams as Arab Americans.”

    In late September, a national group of three dozen Muslim American scholars and imams signed an open letter calling on Muslims not to vote for Democratic nominee Kamala Harris.

    “We want to be absolutely clear,” the letter reads, “don’t stay home and skip voting. This year, make a statement by voting third party for the presidential ticket.”

    A group called Listen to Michigan gained attention during the primaries by attracting more than 100,000 people to vote “uncommitted” as a protest against President Joe Biden’s funding of the war in Gaza. The group has stopped short of endorsing Harris but urged voters “not to cast their ballot for anyone but her.”

    Still, some of my neighbors have decided to back Green Party candidate Jill Stein.

    I know my vote is my voice, and I fully intend to participate in the electoral process. But I can’t trust any of the candidates to create a safe haven for my family – a place where my daughters and I can thrive and live our American dream.

    Farha Abassi does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. I’m a Muslim immigrant and a psychiatrist living in Michigan – I haven’t decided how to vote yet – https://theconversation.com/im-a-muslim-immigrant-and-a-psychiatrist-living-in-michigan-i-havent-decided-how-to-vote-yet-241333

    MIL OSI – Global Reports –

  • MIL-OSI: Point Predictive Partners with OTTOMOTO® to Deliver Advanced Fraud Prevention, Income, and Employment Validation Solutions to Auto Dealers Nationwide

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Nov. 04, 2024 (GLOBE NEWSWIRE) — Point Predictive, the leader in AI solutions for fraud prevention, today announced a strategic partnership with OTTOMOTO® to integrate its advanced fraud detection and income & employment validation solutions into their comprehensive platform.

    With auto lending fraud reaching nearly $8 billion last year, dealers and lenders face mounting challenges from synthetic identities and credit-washing schemes as well as income & employment misrepresentation. Lenders are increasingly finding and pushing back defaulted fraudulent loans to dealers. Dealers are struggling to absorb the pushbacks. Both dealers and lenders are looking for ways to stop fraud at dealerships before it even gets to the lenders.

    The integration with Point Predictive’s IEValidate™, BorrowerCheck™ and DealerCheck™ solutions means that OTTOMOTO® dealers and lenders will have turnkey access to the most advanced identity, income, and employment validation services available. DealerCheck will also help lenders and dealership owners monitor loan application processes and ensure that fraud checks are in place and that risk remains low.

    “Helping dealers and lenders address the nearly $8 billion in fraud hitting the auto industry is our priority,” said Tim Grace, CEO of Point Predictive. “By working with state-of-the-art platforms like OTTOMOTO®, we can provide turnkey access to thousands of dealerships and lenders to stop the majority of the loan pushbacks. With the integration, they can detect and prevent fraud they are missing today, reduce false positives from their current red flag tools, and validate income in real-time without using pay stubs or bank statements, enabling an easier process for dealers.”

    The Best Platform Delivering a Better Way to Manage All Risk

    Through the OTTOMOTO® platform, dealers and lenders will gain immediate access to Point Predictive’s solutions to stop more fraud and streamline their most critical and time-consuming verification processes.

    OTTOMOTO® customers will have access to:

    IEValidate – Validate Income and Employment Without the Hassle of Pay Stubs

    With IEValidate, dealers and lenders can eliminate requests for pay stubs, which are difficult for an applicant to provide and are often forged. IEValidate is easier, faster, and more reliable, which means less work for everyone, including the applicant. In less than 1 second, a dealership can receive a full report on an applicant’s income and employment history. In addition, IEValidate confirms that the employer is not one of the 11,000 fake employers that we have identified as being used on fraudulent applications in the U.S. today.

    BorrowerCheck – Stop Pushbacks and Eliminate Credit Bureau Interview Questions

    No more unexpected pushbacks. BorrowerCheck eliminates dated red-flag checks which are often inaccurate and take too much time to review. New alerts provide clear direction on where the risk is, and how to resolve it quickly.

    The solution also replaces antiquated Credit Bureau Interview Questions that can take 5 minutes or more to complete. Instead of those questions, BorrowerCheck provides SMS-based verification, which can be completed in less than 20 seconds. The solution works better and is faster than existing red flag tools used by dealers.

    DealerCheck – Dashboards to Enable Better Partnership with Lenders

    With DealerCheck, lenders and dealers get information that helps them track growing risks to avoid pushbacks and make smarter decisions about working together.

    DealerCheck lets dealers and lenders:

    • See detailed reports about their dealers
    • Compare their dealer’s performance to other dealers
    • Spot trending of high-risk applications before they become big issues
    • Make smarter decisions, optimize stipulations and discounts, improve watchlist and working relationships with dealers

    All Powered by Data

    The new solutions available to OTTOMOTO®’s customers are driven by Point Predictive’s data which is unlike any data from a credit bureau. With over 269 million reported incomes and information on 22 million employers in the U.S., dealers get access to real history that enables automation to modernize a dealer’s operations and sell more cars faster.

    “OTTOMOTO® is dedicated to streamlining the auto retail finance process,” said Paul Nicholas, CEO at OTTOMOTO®. “Integrating Point Predictive’s advanced solutions gives our dealers the tools to close deals faster while protecting their businesses from fraud.”

    For more information on the Point Predictive and OTTOMOTO® partnership, please get in touch with Justin Davis at jdavis@pointpredictive.com.

    About Point Predictive

    Headquartered in San Diego, California, Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as pay stubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers get loans faster, and lenders realize an increased bottom line. For more information, please visit pointpredictive.com.
    Click here to partner with Point Predictive.

    About OTTOMOTO®

    OTTOMOTO® is a premier provider of lending technology for the auto, RV, Powersports, Marine, and aircraft industries. Focused on digital innovation, OTTOMOTO® is redefining traditional financing practices with a secure, transparent, and compliant process that benefits dealers, lenders, and consumers. With strategic partnerships and decades of industry expertise, OTTOMOTO® is committed to advancing the future of finance through cutting-edge technology solutions.
    Click here to partner with OTTOMOTO®.

    The MIL Network –

  • MIL-OSI: Southside Bancshares, Inc. Announces Transfer of Listing of Common Stock to the New York Stock Exchange

    Source: GlobeNewswire (MIL-OSI)

    TYLER, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (NASDAQ: SBSI) (the “Company” or “Southside”), the parent company of Southside Bank, announced today that it is transferring the listing of its common stock to the New York Stock Exchange (“NYSE”) from the Nasdaq Global Select Market (“Nasdaq”). Southside’s common stock is expected to begin trading on the NYSE on November 15, 2024, under the existing ticker symbol of “SBSI”. Southside expects its common stock to continue to trade on Nasdaq until the close of the market on November 14, 2024.

    “We are excited to announce the transfer of Southside’s stock listing to the NYSE,” said Lee R. Gibson, Chief Executive Officer of Southside Bancshares, Inc. “Our Texas-based franchise markets include some of the strongest and fastest growing markets in the country. We look forward to joining many of the world’s leading and most prestigious companies that trade on the NYSE and are excited to leverage the NYSE platform and trading model for the benefit of our shareholders.”

    Since its initial public offering on Nasdaq in 1998, Southside Bancshares has seen continuous and significant growth – surpassing $1 billion in assets in the year 2000 and reaching nearly $8.5 billion in assets by the end of 2023. Beginning with a single branch in Tyler, Texas, the bank has grown to over 55 locations including 53 branches and two loan offices throughout East, North, Central, and Southeast Texas.

    “We are thrilled to welcome Southside Bancshares, Inc. to the New York Stock Exchange,” said Chris Taylor, Global Head of Listings, NYSE. “With its deep roots in Texas and history of supporting local economies, Southside is a welcome addition to our NYSE community, which is home to numerous Texas-based companies and many of the world’s leading banks.”

    ABOUT SOUTHSIDE BANCSHARES, INC.

    Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $8.36 billion in assets. Through its wholly-owned subsidiary, Southside Bank, Southside currently operates 53 branches, two loan production offices, and a network of 72 ATMs/ITMs throughout East Texas, Southeast Texas, Dallas/Fort Worth and Austin. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, treasury management, wealth management, trust services, brokerage services, and an array of online and mobile services. For more information about Southside Bank, visit https://www.southside.com/.

    Contact:
    Julie Shamburger
    Chief Financial Officer
    903-531-7134

    The MIL Network –

  • MIL-OSI Canada: Canada brings international leadership ambition on nature and biodiversity to COP16 in Cali, Colombia

    Source: Government of Canada News

    On behalf of Canada and the Honourable Steven Guilbeault, Minister of Environment and Climate Change, the Canadian delegation worked diligently—through negotiations, bilateral discussions, and side events—to bring countries together to advance the implementation of the 23 targets for 2030 laid out in the Kunming–Montréal Global Biodiversity Framework

    November 4, 2024 – Cali, Colombia

    Canada is known for its rich biodiversity and extraordinary natural beauty and takes pride in playing a leadership role in global nature recovery. At the conclusion of the 16th United Nations Biodiversity Conference (COP16) in Cali, Colombia, Canada continued to actively work with international partners toward halting and reversing the biodiversity crisis and advocating for ambitious action to protect nature.

    On behalf of Canada and the Honourable Steven Guilbeault, Minister of Environment and Climate Change, the Canadian delegation worked diligently—through negotiations, bilateral discussions, and side events—to bring countries together to advance the implementation of the 23 targets for 2030 laid out in the Kunming–Montréal Global Biodiversity Framework. They also worked to identify ways to address the key drivers of biodiversity loss, such as pollution, climate change, and overexploitation of nature. Canada and its fellow Nature Champions pushed for the conservation of 30 percent of land and water by 2030 and reaffirmed the importance of respecting the rights and roles of Indigenous peoples.

    After significant collaboration with National Indigenous Organizations and international Indigenous bodies, COP16 successfully established a permanent Indigenous subsidiary body, the first of its kind in any of the UN Rio conventions. Canada welcomes this historic step forward for giving a voice to Indigenous peoples in the UN process.

    The COP also established a multilateral mechanism on digital sequence information aimed at enhancing access and benefit sharing for communities and traditional knowledge holders of biodiversity.

    In addition to these two historic achievements, this COP adopted a program of work to integrate nature and climate change actions. After years of work, countries also endorsed work on ecologically significant marine areas.

    Canada supports the need to mobilize international biodiversity funding. Despite efforts, countries were unable to reach an agreement on critical issues, such as resource mobilization. Canada remains determined to engage with countries and non-state actors at the next opportunity to address these gaps and remains committed to working with Parties to finalize an ambitious strategy.

    In addition to driving ambition in international negotiations, at COP16 Canada:

    • Announced a total of $62 million for seven projects working to protect biodiversity around the world. The projects will support gender-inclusive initiatives and Indigenous-led projects for vulnerable communities to build a stronger, more sustainable future; fight climate change; protect nature; and support resilient local economies.
    • Brought the Nature Champions Network together, with increased membership, and encouraged rapid global biodiversity action through effective implementation of respective national biodiversity strategies.
    • Led two panels in partnership with the Indigenous Leadership Initiative to highlight the importance of collaboration with Indigenous peoples and the success of Indigenous-led conservation and stewardship in Canada. Indigenous Guardians initiatives are crucial to ensuring the sustainability of our planet for current and future generations, and innovative financing models, like the project finance for permanence, are empowering this vital work.
    • Joined the ‘Declaration of the World Coalition for Peace with Nature’, a call for action to enhance national and international efforts and commitments toward achieving a balanced and harmonious relationship with nature.
    • Joined the ‘Mainstreaming Champions Group’, an initiative launched at COP16 to accelerate progress on mainstreaming biodiversity across sectors to help achieve the Global Biodiversity Framework’s mission, goals and targets.

    Backed by over $12 billion in investments since 2015, the Government of Canada has led the largest campaign in Canadian history to support nature and nature-based climate solutions, with the goal of protecting 30 percent of land and water by 2030 and conserving species at risk, in full partnership with provinces, territories, and Indigenous peoples.   

    • COP16 was held in Cali, Colombia, from October 21 to November 1, 2024.

    • Both the 2030 Nature Strategy and the Nature Accountability Bill provide a roadmap for collaboration across all levels of government and with Indigenous peoples in the development and implementation of measures aimed at meeting Kunming–Montréal Global Biodiversity Framework and related Convention on Biological Diversity commitments.

    • The Nature Champions Network is a ministerial-level group launched by Canada that focuses on fostering international awareness and understanding of the global biodiversity framework. 

    • At COP15, Prime Minister Justin Trudeau announced $350 million in funding to support developing countries in advancing biodiversity efforts and to support the implementation of the Kunming–Montréal Global Biodiversity Framework.

    • Indigenous-led conservation is proven to help land, water, and communities thrive, and it is central to Canada’s plan to protect 30 percent of our land and water by 2030.

    • In recent years, the Government of Canada has made historic investments in Indigenous-led conservation projects, including through initiatives like the Indigenous Guardians Program.

    • Project finance for permanence provides multi-partner investments and sustainable financing for large-scale conservation and sustainable development projects. These initiatives bring together Indigenous organizations, governments, and the philanthropic community to identify shared goals for protecting nature and ultimately halting biodiversity loss while advancing community well-being and reconciliation with Indigenous peoples.

    • In 2022, during COP15, Prime Minister Justin Trudeau pledged to deliver up to $800 million in support of up to four Indigenous-led project finance for permanence initiatives, including the Great Bear Sea Project Finance for Permanence.

    • The Great Bear Sea Project Finance for Permanence agreement was officially established in June 2024. Work is underway to finalize the remaining projects over the coming year.

    Hermine Landry
    Press Secretary
    Office of the Minister of Environment and Climate Change
    873-455-3714
    Hermine.Landry@ec.gc.ca

    Media Relations
    Environment and Climate Change Canada
    819-938-3338 or 1-844-836-7799 (toll-free)
    media@ec.gc.ca

    MIL OSI Canada News –

  • MIL-OSI USA: THOMPSON HONORED WITH AMERICAN FARM BUREAU FEDERATION’S “FRIEND OF FARM BUREAU” AWARD

    Source: United States House of Representatives – Congressman Mike Thompson Representing the 5th District of CALIFORNIA

    Napa – Today, Rep. Mike Thompson (CA-04) announced he was presented the American Farm Bureau Federation’s “Friend of Farm Bureau” award by Shannon Douglass, President of the California State Farm Bureau, for his outstanding service to support farmers, growers, and producers during the 118th Congress.

    “The American agriculture community powers our economy, and their work is vital to the success of our country,” said Thompson. “I am honored to receive the Friend of Farm Bureau Award from the American Farm Bureau Federation. I look forward to continuing to work with leaders of our agriculture community to deliver economic success for every grower, producer, and farmer.”

    “Congressman Thompson’s strong partnership with county Farm Bureaus and his unwavering support for disaster assistance have been invaluable to our agricultural communities,” said California Farm Bureau President, Shannon Douglass. “His commitment to securing essential aid for California farmers and ranchers—many of whom have faced devastating losses from recent storms and wildfires—has made a lasting impact. We are proud to honor him with the Friend of Farm Bureau award for his continued dedication to strengthening California agriculture.”

    “I’ve seen Congressman Thompson stand up, consistently, in support of agriculture in his district and across California. It is fitting, and deserved, for California to recognize him as this year’s Friend of the Farm Bureau. I admire his service, and am honored we could include this award as part of Napa Farm Bureau’s event,” said Napa County Farm Bureau CEO, Peter Rumble.

    Rep. Thompson has always worked and continues to work to deliver for the 4th Congressional District’s agriculture communities. Some recent highlights of his work for farmers, growers, and producers include:

    • Authored the legislation that created the Emergency Relief Program (formerly known as WHIP+) and has introduced legislation to permanently reauthorize the program to provide direct payments to producers for crop losses due to smoke exposure, wildfire, drought or other natural disasters. 
    • Voted to pass the Inflation Reduction Act, which made historic investments to help the agriculture community deal with the effects of climate change: 
      • $5 billion in strategic forestry investments
      • $21.25 billion in strategic conservation investment
      • $13.265 billion in rural development investments
      • $4 billion for drought relief in the 7 reclamation states, including California
    • Secured $1.2 million for UC Davis to conduct research on the impact of smoke exposure on crops. 
      Worked to help establish the U.S. Department of Agriculture, Risk Management Agency’s (RMA) new pilot crop insurance program to help California grape growers protect against losses incurred due to smoke exposure. He has introduced legislation to make the program permanent. 

    Learn more about Rep. Thompson’s work for the agriculture community here. 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Free Family Hubs Terrific Tuesdays launch at the Potteries Centre

    Source: City of Stoke-on-Trent

    Published: Monday, 4th November 2024

    Remember, remember the fifth of November… the date free Family Hubs Terrific Tuesdays launch at the Potteries Centre.

    The groups, run by Stoke-on-Trent City Council’s Family Hubs team, will start on Tuesday 5 November in the Community Room on the lower mall of the Potteries Centre, Hanley, ST1 1PP.

    Family Hubs offer bespoke advice and guidance to local communities, empowering families and offering opportunities for fun, education and support where needed.

    They are running as part of a project being delivered with over £3.5 million of Government funding. Family Hubs are also an important part of the city council’s Family Matters programme, which provides families in the city with all the tips, advice and opportunities they need to thrive.

    Councillor Sarah Hill, cabinet member for children’s services, said: “We want our Family Hubs programme to be easily accessible for families across the city. These new groups really support that aim as well as driving footfall into the city centre, supporting the local economy and businesses.

    “Family Hubs are a really important part of our Family Matters programme, which is already helping to reduce the number of children in care after just nine months. Extra groups running from the Potteries Centre mean that more people can tap into the advice, guidance and fun on offer and have access to a wider range of services and activities.”

    The new sessions build on the recent launch of Chell Heath Family Hub, which officially launched on Thursday 24 October, at the site of the former Stoke North Children’s Centre, Bishop Road, Chell Heath.

    All of the groups running from the Potteries Centre are free to join and there is no need for residents to book. Sessions include:

    • Sensory fun for Babies, 9.30am – 11am
      A gentle, fun session with lights, music and learning through sensory experiences for babies 0 to 12 months.
    • Playful Parenting, 1pm – 2.30pm
      Bring your toddler along for some fun play. Learn about how you can support your child through play, create the best home learning environment and provide a strong base for future learning. For toddlers 1 – 4 years.
    • Make and take, 3.30pm – 4.30pm
      Have some crafty fun and make something to take home and treasure. For children aged 4 – 11 years. 

    Family Hubs are currently open in Tunstall, Normacot, Bentilee, Chell Heath and Shelton with other sites currently being developed. For 24/7 access to services, or for families that prefer to access online, the city council’s Digital Family Hub is available at https://familyhub.stoke.gov.uk/

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Manitoba Government Releases Strategy to Secure Province’s Mineral Future

    Source: Government of Canada regional news

    November 4, 2024

    Manitoba Government Releases Strategy to Secure Province’s Mineral Future

    – – –
    Responsible Mining, Opportunity Ready: Mineral Powerhouse Strategy Sets Path Forward to Spur Mineral Economic Growth: Moses, Bushie

    The Manitoba government has released its Securing Our Critical Mineral Future strategy to stand up critical minerals projects faster, while respecting the environment and forming strong Indigenous partnerships, Economic Development, Investment, Trade and Natural Resources Minister Jamie Moses and Municipal and Northern Relations and Indigenous Economic Development Minister Ian Bushie announced today. 

    “This Critical Minerals Strategy will solidify Manitoba as a world leader in responsible mineral development – which in turn brings good jobs to Manitoba,” said Moses. “No matter the result of tomorrow’s US election, our strategy will ensure Manitoba is a secure and responsible trade partner for years to come.” 

    Home to 30 of 34 critical minerals identified by the federal government as critical for promoting green energy and sustainable economic success, Manitoba is positioned to supply the materials needed to power the North American low-carbon economy, noted Moses. The strategy aims to attract investment and create good jobs in Manitoba. Key actions include the creation of a dedicated, single window Critical Mineral Office, investments in high-priority regional infrastructure projects and the development of a provincial revenue-sharing model for mining in partnership with Indigenous nations. 

    “Indigenous and northern communities can be the backbone to a successful mining sector, setting those communities and the Manitoba economy on the best path forward,” said Bushie. “By taking a nation-to-nation approach, this strategy will unlock the benefits of critical minerals for Indigenous nations through healthy resource development. This strategy will ensure Indigenous Peoples’ voices are heard and that they receive fairer financial value within the resource sector in order to advance economic reconciliation.” 

    “Manitoba needs to get new mines brought online faster,” said John Morris, co-director, Mining Association of Manitoba Inc. (MAMI). “MAMI agrees that by streamlining policy and regulation, permitting will improve with the new single-desk Critical Minerals Office. MAMI looks forward to working with the Province of Manitoba as we develop many of the action items contained in this strategy.” 

    The Manitoba government will continue to engage with rights holders, communities and business as work on the action items from the strategy begins to be implemented, said Moses. 

    The Manitoba Critical Minerals Strategy is available at www.manitoba.ca/minerals. 

    – 30 –

    MIL OSI Canada News –

  • MIL-OSI United Kingdom: Official Receivers celebrate 140-year history

    Source: United Kingdom – Executive Government & Departments

    2024 marks the 140th anniversary of the appointment of the first Official Receivers and a rich history of helping to keep the UK a safe place to do business

    Official Receiver court dress on display in the Insolvency Service Stratford Office.

    • The first Official Receivers were appointed in 1884 

    • Official Receivers originally conducted public examinations for every bankruptcy– now people can apply for bankruptcies online. 

    • Next chapter for Official Receivers includes planned new technology to help streamline case management 

    The office of Official Receiver is 140 years old this year, marking a history that has evolved from administering personal bankruptcies to overseeing major company liquidations and securing Bankruptcy Restrictions against people who pose a threat to the public through financial wrongdoing. 

    The Insolvency Service has 16 Official Receivers based across 16 locations in England and Wales, who act as trustees in people’s bankruptcies and liquidate companies that have been wound up, with the backing of hundreds of support staff.  

    They also investigate the causes of insolvencies and can secure stringent restrictions against bankrupt people where there is evidence they have been dishonest or are to blame for their debts, to protect the public from possible future harm. 

    Sharon Lewis, Interim Director of Official Receiver Services at the Insolvency Service, said: 

    Our work makes an impact on people’s lives, whether that’s helping those with overwhelming debt to make a fresh start, safeguarding the public from financial wrongdoing or helping creditors get back money they’re owed.  

    We have always been at the heart of the UK’s world-leading insolvency regime and there is a real pride in our work and strong connection to our long history of service.   

    As we continue to take a more digital focus to support an insolvency regime that is fit for the 21st Century, we look forward to the next chapter in our story in helping to deliver economic confidence for the UK.

    Official Receivers came into being following the Bankruptcy Act 1883 and the first cadre of 67 Official Receivers were appointed in 1884. Originally, the officials would conduct public examinations of bankrupts, and the Senior Official Receiver would appear at ceremonial occasions in formal court dress, including a sword and a bicorn hat. 

    Following rules introduced in 2016, people who choose to become bankrupt can now apply online rather than attend court. These changes reflect a move towards a more flexible service that recognises difficulties faced by people with overwhelming debt. 

    More planned changes to the service focus on new technology, including the introduction of a state-of-the-art case management system to help Official Receivers and their teams deliver a quicker, more efficient service for customers.  

    Official Receivers are supported by around 600 staff across the country, including teams of Deputy Official Receivers, examiners and case workers. The teams include a dedicated Public Interest Unit that deals with the most complex bankruptcy and liquidation cases, and a National Interest Case Executive that administers high-profile liquidations. 

    This year, Official Receivers have been appointed by the courts as liquidators of a number of high profile businesses.  

    Official Receivers in local offices have also dealt with cases including bankruptcies of high-profile individuals, and company insolvencies ranging from GP practices and dentists to funeral directors.  

    In 2023-4, Official Receivers also secured 134 Bankruptcy Restrictions – 93 of which were related to abuse of the Covid loan schemes. They also handled almost 11,000 new cases and returned almost £60million to creditors. 

    An Official Receiver: 

    • Is a civil servant working in the Insolvency Service 

    • Is an officer of the court 

    • Acts as a liquidator of companies – winds down the affairs of companies and investigates the causes of the insolvency and the conduct of current and former directors. 

    • Acts as a trustee in bankruptcy – someone who manages the bankruptcy. A bankrupt person’s assets transfer to the trustee who collects or sells them to make payments to creditors 

    • Applies to court to extend the period prior to a bankrupt person receiving a discharge, if they have failed to cooperate with the Official Receiver in the bankruptcy

    • Secures bankruptcy restrictions orders against those who have acted dishonestly, or are to blame for their bankruptcy, to extend the restrictions imposed on them. 

    Further Information 

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Don’t miss the Christmas Cracker on Sunday 17 November

    Source: St Albans City and District

    Publication date:

    Thousands of people are expected at the St Albans Christmas Cracker – a free family-friendly event that kicks off the festive season.

    The annual street festival takes place in the City Centre from noon until 6pm on Sunday 17 November with St Peter’s Street closed to traffic to create a safe and vibrant atmosphere.

    Among the attractions will be live music, fairground rides, a Santa’s grotto, street entertainers and around 100 market stalls selling hot food, drinks and seasonal gifts.

    Much of the family-friendly entertainment will be free with something to suit people of all ages and abilities.

    Festive decorations and installations will be illuminated throughout the event and there will also guest appearances from some of this year’s Alban Arena pantomime, Cinderella.

    The Christmas Cracker is organised by St Albans City and District Council, sponsored by St Albans City Centre BID and part-funded by the Government’s Shared Prosperity Fund.

    Attractions include:

    The Main Stage: situated near the taxi rank, there will be live music and other entertainment throughout.

    Rising Stars Performance Space: located by the Anthropologie shop, there will be music from young performers from across the District.

    Santa’s Grotto: situated by the Alban Arena and run by the St Albans Rotary Club.

    Create and Play Zones: free interactive festive activities for all at locations across the site, including festive decoration making, a football shoot-out and traditional wooden games.

    Market Traders: around 100 stalls selling a vast range of novelty gifts, seasonal produce and mouth-watering street food.

    Street Performers: walkabout entertainment and street theatre including a stilt-walking Christmas trees and elves riding around on reindeer.éé

    British Sign Language Interpreters will be available at the activities throughout the day. 

    Councillor Anthony Rowlands, Lead for Events, said:

    I am thrilled at the prospect of another St Albans Christmas Cracker.

    This is a fantastic way to get the District’s festive season underway and always attracts thousands of people to the City Centre.

    I urge our residents not to miss out on the fun as there is great entertainment, much of it free, for people of all ages.

    The event also provides a boost to the local economy by bringing many extra visitors to the City Centre where they will use our shops, pubs, cafés and restaurants as well as the market stalls.

    Vivien Cannon, Manager of St Albans City Centre BID, said:

    Everything has been laid on for the whole community to come along and help launch the start of this wonderful Christmas season. 

    Our City Centre businesses invest in the City through sponsorship of the event. Everyone wants to make sure visitors enjoy browsing around the stalls and enjoy the festive entertainments. Most of all, our businesses send Christmas Greetings and the message to continue to shop locally this Christmas.

    Charter Market

    Another highlight of the festive season will be the additional December dates for the twice-weekly Charter Market.

    The Market will take place every Thursday, Friday and Sunday, 9am to 3pm, in the fortnight leading up to Christmas Day as well as the usual Wednesdays and Saturdays.

    There will be an extra day’s trading, too, on Tuesday 24 December.

    Pantomime

    Cinderella starts at the Alban Arena on Thursday 12 December and runs until Sunday 12 January

    Its stars include EastEnder Samantha Womack, comics Bob Goulding and Ian Kirkby, and Union J singer George Shelley. Tickets are available to book here. 

    Pictures: top, scene from the 2023 event; bottom, Cinderella at the Alban Arena.

    Media contact: John McJannet, Principal Communications Officer: 01727 819533, john.mcjannet@stalbans.gov.uk.

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future

    Source: The Conversation – Africa – By Barnaby Joseph Dye, Lecturer, King’s College London

    Contemporary economic challenges in Africa appear to be shifting the continent into a new era of development. From COVID-19 to war-induced inflation, many countries in Africa are facing significant economic challenges. The crises of recent years come on top of longer-term increases in debt, especially after the 2014 commodity price shock.

    These circumstances have been the backdrop to recent conflicts, coups, and regime changes. But these contemporary crises follow a period of relatively successful state-led development in the first two decades of the 21st century, resulting in a hype about the new “African lions” and the emergence of an “Africa rising” narrative.

    Two cases stand out as emblematic of this era: Rwanda’s vision of a Dubai-style financial and service hub, and Ethiopia’s rapid manufacturing and infrastructure ambitions.

    Much has been written about the international factors behind this era of state-led development. The focus has been on the extension of private finance and the growth of “new” lenders such as China, India and Brazil. But these perspectives often overlook important questions. What has inspired ambitious African national plans over the last two decades? What assumptions were made about how development happens and how it should look?

    In new research published in a special issue of a journal, we analyse these modernising visions. We unpick their differences and commonalities using cases from multiple countries.

    Our emphasis is on understanding ideas, beliefs, and norms in shaping development plans. Such perspectives are often overlooked in the study of Africa. Scholars have often presumed that ruling elites are primarily interested in narrow material power or self-enrichment. We argue that ideas and beliefs underpin the goals and content of development plans.

    The research covered in the special issue covers Angola, Eritrea and Tanzania, but in this article we will unpack our analysis of Ethiopia and Rwanda.

    20th century modernist development

    Many of the elements of development this century look like resurgent 20th century “high modernism”. This is a term coined by scholar James Scott to describe top-down, state-led, authoritarian programmes of economic development. These programmes typically used infrastructure and technology to engineer supposedly “backward”, “traditional” people and landscapes into efficient, modern, rational alternatives.

    Perhaps the chief examples here are large dams. Historically, dams were viewed as the hallmark projects of modernisation. They could tame nature and deploy technology, whether electricity or irrigation, to found modern economies and workers. Ghana’s Akosombo Dam is one such project.

    But building dams paused from the mid-1990s to the mid-2000s as the World Bank and other major funders withdrew. Dam projects were seen as having too-high social and economic costs and as not performing well. Such negative impacts also generated significant protests.

    Rwanda’s case

    Underpinning Rwanda’s model is a concentrated Leninist-style power structure. The president and associated elites chart the path to progress. The party, with its affiliated companies and investment funds, is all powerful – not solely the state. Rwanda also revived mid-century plans, from dams to an east African railway corridor. Electricity was deemed central, resulting in a rapid, but overambitious five-fold increase in over 15 years.

    This recent period was not just a reproduction of the 1960s, however. It had new elements. A Dubai-style aesthetic is central to the reinvented capital, Kigali, where the goal is to create a new corporate service hub, replete with skyscraper, conference centres, shopping malls and a new international airport. This replaces the 20th century obsession with industrial sites and brutalist concrete.

    Rather than the state-led programmes of the 20th century, pro-market reforms have been incorporated. There’s an embrace of private enterprise, a stock market and investment. The country’s electricity boom was largely enacted by private firms and Rwanda consistently ranks as one of the top countries in the Ease of Doing Business index. It takes hours, not weeks, to set up a company and there’s a speedy regulatory bureaucracy.

    Read more: Rwanda is creating shiny, modern cities after the genocide – but this won’t help communities heal from the past

    In some cases, “neoliberal” reforms have been brought in, with private enterprise and investment in previously state-controlled domains. Rwanda embraced corporate investment and ownership while making business-friendly, low-tax reforms. The private sector was given a big role in Rwanda’s boom to build over 40 microhydro plants in 15 years.

    New public management techniques, with individual incentives and civil service targets, were adopted.

    Ethiopia’s case

    Ethiopia focused on investments in large agricultural plantations and industrial parks. The result evoked 20th century modernisation drives. A broad-based infrastructure boom and an industrialisation strategy that moved agricultural produce up the value chain would transform the structure of the economy. The Grand Ethiopian Renaissance Dam, the Addis-Djibouti Railway and other megaprojects became symbols of this vision. The aim was to maintain state control of the commanding heights of the economy (electricity, water, telecommunications and aviation, among others), while building an industrial base that would absorb the surplus agricultural labour.

    This was coupled with investments in education and health. In 2016, Ethiopia had the third highest ratio of public investment to GDP, but also one of the fastest economic growth rates globally.

    Unlike Rwanda, this ideology has not survived. Progress in health, education and income was achieved but political tensions grew. By the mid 2010s, the material reality of people’s livelihoods could no longer keep up with the promises the ruling party had evoked. Dissent was not tolerated and led to mass protests, riots, and the eventual demise of the party. Since 2018, there has been a dramatic shift in ideology and vision with an openness to liberalisation, and a focus away from industrialisation to the service sector.

    Continuity and change

    Overall, our analysis reveals a combination of continuity and change during this period. It marks the triumph of an “African left”, with old titans like Tanzania’s Chama Cha Mapinduzi or Mozambique’s Frelimo joined by new revolutionary parties also inspired by Marxism.

    The language of communism or socialism is not used explicitly. But a belief endures that top-down schemes and mega-infrastructure can catapult people into an “enlightened” future. Structural economic barriers are surmountable through technology and engineering.

    Simultaneously, one cannot escape the language of the Davos establishment about the supremacy of markets, importance of foreign investment and pledges to tackle climate change and poverty. This illustrates the degree to which these illiberal modernisers are connected to international policymaking.

    Our publication conceptualises this pattern of continuity and change, as a 10-point “illiberal modernisers” manifesto. Although holding considerable variation between countries, we argue that these these hegemonic ruling parties shared common goals of transforming society through an elite-defined programme.

    Ultimately, the pattern of continuity and change demonstrates the importance of analysing ideas, beliefs, and values. Elites in Africa, just as elsewhere, are not only interested in power but are influenced by ideas about development.

    – Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future
    – https://theconversation.com/visions-of-development-have-shifted-in-africa-over-the-past-two-decades-study-explores-how-rwanda-and-ethiopia-tried-to-shape-the-future-224988

    MIL OSI Africa –

  • MIL-OSI Africa: Namibia’s game-changing 2024 elections: Swapo might face defeat for the first time since independence in 1990

    Source: The Conversation – Africa – By Henning Melber, Extraordinary Professor, Department of Political Sciences, University of Pretoria

    The former liberation movement South West Africa People’s Organisation (Swapo) has been in firm political control of Namibia since independence in 1990.

    Support for the party in the national assembly and presidential elections reached a high point in November 2014. The 2019 elections marked a turning point, however: Swapo lost its two-thirds-majority in parliament. President Hage Geingob was re-elected with the worst result yet – 56% – from 87% in 2014. This reflected disappointment over the unfulfilled promises he had made. Votes shifted to his Swapo comrade Panduleni Itula. After being expelled from the party in 2020, Itula founded the Independent Patriots for Change.

    Itula, contesting as an “independent candidate” without party nomination, managed to snatch 30% of the votes from Geingob. Swapo’s downward trend was confirmed by a dramatic decline in support in the 2020 regional and local elections.

    Despite these shifting grounds, democracy stood the test of time. The smooth transition following the death of Geingob in February 2024 was a sign of political stability. Previous vice-president Nangolo Mbumba became interim president.

    But Swapo faces a new quality of opposition.

    I have followed and analysed policy in Namibia since independence. In my view, the national assembly and presidential elections of 27 November 2024 signify a new political scenario. For the first time a clear victory for Swapo seems less certain.

    Swapo

    The Swapo election manifesto pays tribute to Geingob. But it doesn’t mention his Harambee Prosperity Plan. Nor does it feature his metaphor of the “Namibian house”, in which nobody is left behind.

    This signifies an abrupt closing of a chapter. Mbumba declared himself a caretaker, not interested in the position for a long term. He therefore does not feature prominently in the election manifesto.

    As decided by the party congress in December 2023 the Swapo presidential candidate is Netumbo Nandi-Ndaitwah, also known as “NNN”. Born in 1952, she was a Swapo Youth League activist from her school days and joined Swapo in exile in the mid-1970s. As a liberation struggle veteran she became part of the party leadership and has been a cabinet member since independence.

    Nandi-Ndaitwah would be the first female Namibian head of state if elected. But she faces strong competition from Itula.

    Namibia’s president is directly elected by a 50% + 1 vote from the electorate. There are several presidential candidates nominated by parties with notable followings. This raises the possibility of no candidate achieving an absolute majority in the first round, for the first time. There would then be a second-round presidential election between the two candidates with most votes.

    While not yet in parliament, Itula’s party, Independent Patriots for Change, made inroads in the 2020 regional and local government elections. In 2019, the Popular Democratic Movement won 16 out of the 96 parliamentary seats, becoming the official opposition. The newcomer Landless People’s Movement won four seats, making it the third strongest party.

    Despite all these recent gradual shifts, hopes for visible transformation were largely unfulfilled. Namibian politics remained business as usual. As Rui Tyitende, a political scientist at the University of Namibia, recently wrote:

    Namibia’s opposition parties are marred by political promiscuity, factionalism, internal conflicts and a perennial struggle for power … Even though Swapo is dysfunctional, the opposition needs to earn the right to govern.

    The manifestos

    This year’s election campaigns started much earlier than usual, testifying to new dynamics. While often lacking substance beyond personalised insults, electioneering remained peaceful. Notably, since independence, Namibia has not recorded a single politically motivated killing.

    Despite early campaigning, party manifestos were released only from mid-September. These kept the media watching out for often dubious promises. Swapo wants to allocate about N$85.7 billion (U$4.9 billion) over five years for mass employment. It does not explain where the funds will come from. But it projects this will create 256,538 jobs.

    The other parties’ manifestos make similarly unrealistic promises. The Independent Patriots for Change and the Popular Democratic Movement promise drastic reduction of poverty, unemployment and informal settlements.

    The Landless People’s Movement claims to be Marxist, but includes a commitment to promoting a free market economy, and investment by multinationals. It also wants to send the first Namibian satellite into space.

    Arguably, election manifestos have no serious impact on voting behaviour. For example, among the older generation, political party loyalties remain influenced to some extent by the liberation struggle history, and regional and ethnic identities.

    In contrast, Namibians who were born after independence make up more than half of the country’s three million people, with an average age of 21 years. Many of the younger electorate live in urban areas, and have become an increasingly decisive factor. For them, the anti-colonial struggle and ethnicity provide little influence. This might be a factor in voting behaviour.

    It seems that Swapo continues to attract the biggest crowds at rallies. However, it remains a matter of speculation if this signals huge electoral support, or is due to the entertainment by popular artists. Entertainment has always played a role in Namibian elections.

    Free T-shirts, food and drinks are also incentives for people attending rallies, many of whom are not yet of voting age. While facing financial constraints, Swapo still has the most funds and donors. Another advantage is that it has a functioning operational structure throughout the country, with a regional and local presence of activists.

    Something new or more of the same?

    Swapo has comparative advantages but there is growing frustration among voters. Its dominance since independence has resulted in a form of democratic authoritarianism or authoritarian democracy. But voter support has still declined.

    Similarly authoritarian leadership in the opposition parties and factional in-fighting provide no hope of alternative policies or political culture. Their political coalitions ended in disarray. This might come to Swapo’s rescue.

    An unlikely but possible scenario would be an elected president coming from outside Swapo, while Swapo dominates the national assembly. The head of state has far-reaching executive powers. But he or she would then have to work with ministers and deputy ministers drawn from a parliament dominated by Swapo.

    Such a constellation would complicate governance. It risks making a non-Swapo president a lame duck. It would be the biggest test for Namibia’s constitutional democracy and rule of law since independence.

    As South Africa’s case shows, a former liberation movement can still have a future despite losing its outright majority.

    Swapo could get beyond the nostalgic liberation struggle mindset and reinvent itself as a modern political party. This could – as happened in South Africa – pave the way to enter coalition politics in the best interest of the people.

    – Namibia’s game-changing 2024 elections: Swapo might face defeat for the first time since independence in 1990
    – https://theconversation.com/namibias-game-changing-2024-elections-swapo-might-face-defeat-for-the-first-time-since-independence-in-1990-241723

    MIL OSI Africa –

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

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

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

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

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

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

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

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI Global: Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future

    Source: The Conversation – Africa – By Barnaby Joseph Dye, Lecturer, King’s College London

    Contemporary economic challenges in Africa appear to be shifting the continent into a new era of development. From COVID-19 to war-induced inflation, many countries in Africa are facing significant economic challenges. The crises of recent years come on top of longer-term increases in debt, especially after the 2014 commodity price shock.

    These circumstances have been the backdrop to recent conflicts, coups, and regime changes. But these contemporary crises follow a period of relatively successful state-led development in the first two decades of the 21st century, resulting in a hype about the new “African lions” and the emergence of an “Africa rising” narrative.

    Two cases stand out as emblematic of this era: Rwanda’s vision of a Dubai-style financial and service hub, and Ethiopia’s rapid manufacturing and infrastructure ambitions.

    Much has been written about the international factors behind this era of state-led development. The focus has been on the extension of private finance and the growth of “new” lenders such as China, India and Brazil. But these perspectives often overlook important questions. What has inspired ambitious African national plans over the last two decades? What assumptions were made about how development happens and how it should look?

    In new research published in a special issue of a journal, we analyse these modernising visions. We unpick their differences and commonalities using cases from multiple countries.

    Our emphasis is on understanding ideas, beliefs, and norms in shaping development plans. Such perspectives are often overlooked in the study of Africa. Scholars have often presumed that ruling elites are primarily interested in narrow material power or self-enrichment. We argue that ideas and beliefs underpin the goals and content of development plans.

    The research covered in the special issue covers Angola, Eritrea and Tanzania, but in this article we will unpack our analysis of Ethiopia and Rwanda.

    20th century modernist development

    Many of the elements of development this century look like resurgent 20th century “high modernism”. This is a term coined by scholar James Scott to describe top-down, state-led, authoritarian programmes of economic development. These programmes typically used infrastructure and technology to engineer supposedly “backward”, “traditional” people and landscapes into efficient, modern, rational alternatives.

    Perhaps the chief examples here are large dams. Historically, dams were viewed as the hallmark projects of modernisation. They could tame nature and deploy technology, whether electricity or irrigation, to found modern economies and workers. Ghana’s Akosombo Dam is one such project.

    But building dams paused from the mid-1990s to the mid-2000s as the World Bank and other major funders withdrew. Dam projects were seen as having too-high social and economic costs and as not performing well. Such negative impacts also generated significant protests.

    Rwanda’s case

    Underpinning Rwanda’s model is a concentrated Leninist-style power structure. The president and associated elites chart the path to progress. The party, with its affiliated companies and investment funds, is all powerful – not solely the state. Rwanda also revived mid-century plans, from dams to an east African railway corridor. Electricity was deemed central, resulting in a rapid, but overambitious five-fold increase in over 15 years.

    This recent period was not just a reproduction of the 1960s, however. It had new elements. A Dubai-style aesthetic is central to the reinvented capital, Kigali, where the goal is to create a new corporate service hub, replete with skyscraper, conference centres, shopping malls and a new international airport. This replaces the 20th century obsession with industrial sites and brutalist concrete.

    Rather than the state-led programmes of the 20th century, pro-market reforms have been incorporated. There’s an embrace of private enterprise, a stock market and investment. The country’s electricity boom was largely enacted by private firms and Rwanda consistently ranks as one of the top countries in the Ease of Doing Business index. It takes hours, not weeks, to set up a company and there’s a speedy regulatory bureaucracy.



    Read more:
    Rwanda is creating shiny, modern cities after the genocide – but this won’t help communities heal from the past

    In some cases, “neoliberal” reforms have been brought in, with private enterprise and investment in previously state-controlled domains. Rwanda embraced corporate investment and ownership while making business-friendly, low-tax reforms. The private sector was given a big role in Rwanda’s boom to build over 40 microhydro plants in 15 years.

    New public management techniques, with individual incentives and civil service targets, were adopted.

    Ethiopia’s case

    Ethiopia focused on investments in large agricultural plantations and industrial parks. The result evoked 20th century modernisation drives. A broad-based infrastructure boom and an industrialisation strategy that moved agricultural produce up the value chain would transform the structure of the economy. The Grand Ethiopian Renaissance Dam, the Addis-Djibouti Railway and other megaprojects became symbols of this vision. The aim was to maintain state control of the commanding heights of the economy (electricity, water, telecommunications and aviation, among others), while building an industrial base that would absorb the surplus agricultural labour.

    This was coupled with investments in education and health. In 2016, Ethiopia had the third highest ratio of public investment to GDP, but also one of the fastest economic growth rates globally.

    Unlike Rwanda, this ideology has not survived. Progress in health, education and income was achieved but political tensions grew. By the mid 2010s, the material reality of people’s livelihoods could no longer keep up with the promises the ruling party had evoked. Dissent was not tolerated and led to mass protests, riots, and the eventual demise of the party. Since 2018, there has been a dramatic shift in ideology and vision with an openness to liberalisation, and a focus away from industrialisation to the service sector.

    Continuity and change

    Overall, our analysis reveals a combination of continuity and change during this period. It marks the triumph of an “African left”, with old titans like Tanzania’s Chama Cha Mapinduzi or Mozambique’s Frelimo joined by new revolutionary parties also inspired by Marxism.

    The language of communism or socialism is not used explicitly. But a belief endures that top-down schemes and mega-infrastructure can catapult people into an “enlightened” future. Structural economic barriers are surmountable through technology and engineering.

    Simultaneously, one cannot escape the language of the Davos establishment about the supremacy of markets, importance of foreign investment and pledges to tackle climate change and poverty. This illustrates the degree to which these illiberal modernisers are connected to international policymaking.

    Our publication conceptualises this pattern of continuity and change, as a 10-point “illiberal modernisers” manifesto. Although holding considerable variation between countries, we argue that these these hegemonic ruling parties shared common goals of transforming society through an elite-defined programme.

    Ultimately, the pattern of continuity and change demonstrates the importance of analysing ideas, beliefs, and values. Elites in Africa, just as elsewhere, are not only interested in power but are influenced by ideas about development.

    Barnaby Joseph Dye receives funding from the Economic and Social Science Research Council (UK).

    Biruk Terrefe received funding from the Heinrich Böll Foundation (Germany).

    – ref. Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future – https://theconversation.com/visions-of-development-have-shifted-in-africa-over-the-past-two-decades-study-explores-how-rwanda-and-ethiopia-tried-to-shape-the-future-224988

    MIL OSI – Global Reports –

  • MIL-OSI Global: Namibia’s game-changing 2024 elections: Swapo might face defeat for the first time since independence in 1990

    Source: The Conversation – Africa – By Henning Melber, Extraordinary Professor, Department of Political Sciences, University of Pretoria

    The former liberation movement South West Africa People’s Organisation (Swapo) has been in firm political control of Namibia since independence in 1990.

    Support for the party in the national assembly and presidential elections reached a high point in November 2014. The 2019 elections marked a turning point, however: Swapo lost its two-thirds-majority in parliament. President Hage Geingob was re-elected with the worst result yet – 56% – from 87% in 2014. This reflected disappointment over the unfulfilled promises he had made. Votes shifted to his Swapo comrade Panduleni Itula. After being expelled from the party in 2020, Itula founded the Independent Patriots for Change.

    Itula, contesting as an “independent candidate” without party nomination, managed to snatch 30% of the votes from Geingob. Swapo’s downward trend was confirmed by a dramatic decline in support in the 2020 regional and local elections.

    Despite these shifting grounds, democracy stood the test of time. The smooth transition following the death of Geingob in February 2024 was a sign of political stability. Previous vice-president Nangolo Mbumba became interim president.

    But Swapo faces a new quality of opposition.

    I have followed and analysed policy in Namibia since independence. In my view, the national assembly and presidential elections of 27 November 2024 signify a new political scenario. For the first time a clear victory for Swapo seems less certain.

    Swapo

    The Swapo election manifesto pays tribute to Geingob. But it doesn’t mention his Harambee Prosperity Plan. Nor does it feature his metaphor of the “Namibian house”, in which nobody is left behind.

    This signifies an abrupt closing of a chapter. Mbumba declared himself a caretaker, not interested in the position for a long term. He therefore does not feature prominently in the election manifesto.

    As decided by the party congress in December 2023 the Swapo presidential candidate is Netumbo Nandi-Ndaitwah, also known as “NNN”. Born in 1952, she was a Swapo Youth League activist from her school days and joined Swapo in exile in the mid-1970s. As a liberation struggle veteran she became part of the party leadership and has been a cabinet member since independence.

    Nandi-Ndaitwah would be the first female Namibian head of state if elected. But she faces strong competition from Itula.

    Namibia’s president is directly elected by a 50% + 1 vote from the electorate. There are several presidential candidates nominated by parties with notable followings. This raises the possibility of no candidate achieving an absolute majority in the first round, for the first time. There would then be a second-round presidential election between the two candidates with most votes.

    While not yet in parliament, Itula’s party, Independent Patriots for Change, made inroads in the 2020 regional and local government elections. In 2019, the Popular Democratic Movement won 16 out of the 96 parliamentary seats, becoming the official opposition. The newcomer Landless People’s Movement won four seats, making it the third strongest party.

    Despite all these recent gradual shifts, hopes for visible transformation were largely unfulfilled. Namibian politics remained business as usual. As Rui Tyitende, a political scientist at the University of Namibia, recently wrote:

    Namibia’s opposition parties are marred by political promiscuity, factionalism, internal conflicts and a perennial struggle for power … Even though Swapo is dysfunctional, the opposition needs to earn the right to govern.

    The manifestos

    This year’s election campaigns started much earlier than usual, testifying to new dynamics. While often lacking substance beyond personalised insults, electioneering remained peaceful. Notably, since independence, Namibia has not recorded a single politically motivated killing.

    Despite early campaigning, party manifestos were released only from mid-September. These kept the media watching out for often dubious promises. Swapo wants to allocate about N$85.7 billion (U$4.9 billion) over five years for mass employment. It does not explain where the funds will come from. But it projects this will create 256,538 jobs.

    The other parties’ manifestos make similarly unrealistic promises. The Independent Patriots for Change and
    the Popular Democratic Movement promise drastic reduction of poverty, unemployment and informal settlements.

    The Landless People’s Movement claims to be Marxist, but includes a commitment to promoting a free market economy, and investment by multinationals. It also wants to send the first Namibian satellite into space.

    Arguably, election manifestos have no serious impact on voting behaviour. For example, among the older generation, political party loyalties remain influenced to some extent by the liberation struggle history, and regional and ethnic identities.

    In contrast, Namibians who were born after independence make up more than half of the country’s three million people, with an average age of 21 years. Many of the younger electorate live in urban areas, and have become an increasingly decisive factor. For them, the anti-colonial struggle and ethnicity provide little influence. This might be a factor in voting behaviour.

    It seems that Swapo continues to attract the biggest crowds at rallies. However, it remains a matter of speculation if this signals huge electoral support, or is due to the entertainment by popular artists. Entertainment has always played a role in Namibian elections.

    Free T-shirts, food and drinks are also incentives for people attending rallies, many of whom are not yet of voting age. While facing financial constraints, Swapo still has the most funds and donors. Another advantage is that it has a functioning operational structure throughout the country, with a regional and local presence of activists.

    Something new or more of the same?

    Swapo has comparative advantages but there is growing frustration among voters. Its dominance since independence has resulted in a form of democratic authoritarianism or authoritarian democracy. But voter support has still declined.

    Similarly authoritarian leadership in the opposition parties and factional in-fighting provide no hope of alternative policies or political culture. Their political coalitions ended in disarray. This might come to Swapo’s rescue.

    An unlikely but possible scenario would be an elected president coming from outside Swapo, while Swapo dominates the national assembly. The head of state has far-reaching executive powers. But he or she would then have to work with ministers and deputy ministers drawn from a parliament dominated by Swapo.

    Such a constellation would complicate governance. It risks making a non-Swapo president a lame duck. It would be the biggest test for Namibia’s constitutional democracy and rule of law since independence.

    As South Africa’s case shows, a former liberation movement can still have a future despite losing its outright majority.

    Swapo could get beyond the nostalgic liberation struggle mindset and reinvent itself as a modern political party. This could – as happened in South Africa – pave the way to enter coalition politics in the best interest of the people.

    Henning Melber is a member of Swapo since 1974.

    – ref. Namibia’s game-changing 2024 elections: Swapo might face defeat for the first time since independence in 1990 – https://theconversation.com/namibias-game-changing-2024-elections-swapo-might-face-defeat-for-the-first-time-since-independence-in-1990-241723

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Government welcomes Official Partners for COP29 

    Source: United Kingdom – Government Statements

    The Official Partners sponsoring the UK’s Pavilion at COP29 are: AVEVA, Corporate Leaders Group, DP World, National Grid, Octopus Energy, SSE and Standard Chartered.

    This year’s COP29 UK Pavilion Official Partners represent UK industry’s outstanding reputation for addressing climate change through enterprise and innovation.

    Throughout the COP29 summit in Baku, Azerbaijan, the UK Pavilion will host a series of events including panel talks, roundtable discussions and networking receptions. These will raise awareness of the best of British climate leadership and share insights on climate change from UK organisations, policy and business. 

    The funding by the UK Pavilion sponsors reduces cost to the taxpayer, while enabling official partners to demonstrate the vital role industry plays in progressing the climate agenda. 

    National Grid and SSE are returning as official partners from COP26 in Glasgow, COP27 in Sharm-El Sheikh and COP28 in Dubai, while Octopus Energy is returning from COP28 – showing the ongoing commitment of these companies to cutting emissions and accelerating towards net zero, and to working with the government on this important mission. 

    The UK government has also welcomed 4 new businesses to the COP29 sponsor portfolio: AVEVA, Corporate Leaders Group, DP World and Standard Chartered, resulting in the highest ever number of official partners at a COP summit.

    COP29 runs from 11-22 November and the UK Pavilion will be open for the duration of the conference. 

    The sponsors

    AVEVA 

    Headquartered in the UK, AVEVA is a global leader in industrial software, driving responsible use of the world’s resources. Over 25,000 enterprises in over 100 countries rely on AVEVA to help them deliver life’s essentials: safe and reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA enables teams to engineer efficiently and optimize operations, driving growth and sustainability.  AVEVA attends COP29 with a wholehearted commitment to ensure that COP29 remains the key mechanism for driving collaborative progress on net zero. With the industrial sector contributing to a quarter of global emissions, AVEVA aims to demonstrate digitalization’s critical role in decarbonising hard-to-abate sectors while enabling innovation in low-carbon paradigms that can support a just transition to a more sustainable future. Sponsoring the UK Pavilion is a key opportunity to collaborate with business, government and civil society leaders, supporting the transformation of UK economic interests to support COP objectives and accelerating the drive for net zero worldwide. 

    Caspar Herzberg, CEO, AVEVA:

    As a UK-headquartered global leader in industrial intelligence software, AVEVA is proud to support the UK Pavilion at COP29. With industry responsible for a quarter of global emissions, industrial digitalisation is revolutionising decarbonisation strategies. Our work with more than 20,000 enterprises worldwide shows how cross-sector collaboration and untapped industrial data are driving breakthrough sustainability solutions. The UK continues to demonstrate leadership in sustainable industrial innovation, and alongside our government and industry partners, we’re committed to accelerating measurable action on our path to net zero.

    Corporate Leaders Group UK 

    The UK Corporate Leaders Group (CLG UK) is a cross-sector, impact-driven business membership group that provides a strong corporate voice to support UK leadership for the transition to a climate neutral, nature positive and socially inclusive economy. CLG UK’s ongoing mission is to increase business and government leadership through a reinforcing virtuous cycle of increasing ambition and implementing action. It has convened and helped build consensus across the UK business community in support of the transition to competitive, climate-neutral, nature-positive and socially inclusive economies.

    Beverley Cornaby, Director, UK Corporate Leaders Group:

    The UK Corporate Leaders Group (CLG UK) is delighted to be sponsoring the UK Pavilion at COP29. The timing could not be more important, with the window of opportunity to transition to a clean future closing rapidly. CLG UK is urging governments to be decisive, provide clear policy frameworks and stay on course to meet net zero through strong delivery and implementation plans. To succeed, the UK government must bring business with it on its journey. That is where CLG UK is perfectly positioned to work with the UK Pavilion’s partners, businesses and change-makers to mobilise investment, technology and innovation to achieve our shared goals. We must work together to unlock the power of UK leadership, shift markets and economies, and maintain ambition for climate, nature and people.

    DP World  

    DP World exists to make the world’s trade flow better, changing what’s possible for the customers and communities it serves globally.  With a dedicated, diverse and professional team of more than 115,000 employees from 160 nationalities, spanning 78 countries on six continents, DP World is pushing trade further and faster towards a seamless supply chain that’s fit for the future. DP World is rapidly transforming and integrating its businesses – Ports and Terminals, Marine Services, Logistics and Technology – and uniting its global infrastructure with local expertise to create stronger, more efficient and sustainable end-to-end supply chain solutions that can change the way the world trades. 

    Rashid Abdulla, CEO & Managing Director, Europe:

    DP World’s ambition is to streamline and sustain global trade while building a resilient, lower-carbon supply chain. At COP29 with the UK government, we will champion sustainable end-to-end solutions that address climate challenges head-on, playing our part in connecting stakeholders across sectors, promoting collaboration and creating shared value.

    National Grid  

    National Grid plays a crucial role in connecting millions of people to the energy they use safely, reliably and efficiently.  National Grid is pioneering ways to decarbonise the energy system; from building interconnectors to allow the UK to share clean energy with Europe, to investing in renewable energy generation in the United States. 

    Rhian Kelly, Chief Sustainability Officer, National Grid:

    Collaboration across borders and the sharing of best practice is vital if the global ambition for a clean energy future is to be met. Energy networks are an important part of this, enabling clean, green energy to flow from where it’s generated to where it’s needed. National Grid is proud to support the UK Pavilion at COP29, and we look forward to sharing our experiences and learning more from the international community.

    Octopus Energy  

    As a British-born company, Octopus Energy showcases how the UK is leading the world in green innovation, investing billions in clean technologies to drive meaningful change globally.  With operations in 18 countries, and 54 million households running on its tech platform Kraken, Octopus is bringing cheaper power to millions of customers globally.  Launched just eight years ago, Octopus is now the largest electricity supplier in the UK and one of the largest investors in renewables in Europe, managing a portfolio worth £7 billion.  Its relentless focus on smart tech and innovations has unlocked the world’s largest virtual power plant and homes with zero energy bills, delivering clean solutions that save people money and power the world. 

    Zoisa North-Bond, CEO Octopus Energy Generation:

    The UK is the vanguard of green innovation, brimming with the talent and technology needed to accelerate the global energy revolution – and COP is a great opportunity to showcase this. From microgrids to wind farms and EVs – the solutions to empower global communities and stop climate change are available today.  By working with policymakers and industry leaders worldwide, we can make green energy accessible for all and drive the solutions that will power the world.

    SSE 

    SSE is the UK and Ireland’s clean energy champion, investing over £20 billion into homegrown energy.  Our purpose is to provide the energy needed today while building a better world of energy for tomorrow.  We do this by developing, building, operating and investing in world-class electricity infrastructure that is vital to the clean energy transition.  We were the first company in the world to develop a ‘just transition strategy’, aimed at ensuring the benefits of the clean energy transition are shared by workers and communities.  SSE has aligned its business strategy to the UN’s Sustainable Development Goals (SDGs), providing a powerful framework to guide the creation of shared value for shareholders and society. 

    Martin Pibworth, SSE Chief Commercial Officer:

    At SSE, we’ve put delivering net zero at the heart of our strategy backed up with of a multi-billion-dollar investment programme focused on mission-critical clean energy infrastructure.  COP29 provides the opportunity to speed up the pace of the transition working with a range of international partners to collectively deliver a global just transition.

    Standard Chartered 

    Standard Chartered has an important role to play in supporting our clients, sectors and markets to accelerate the transition to a low carbon, climate resilient economy. We’re pleased to partner with the UK at COP29, creating a platform to bring together partners, stakeholders and decision makers to help deliver outcomes in support of the Paris Agreement. As a major financial hub, the UK has some of the deepest pools of internationally oriented capital and as a leading international cross-border bank, headquartered in the UK, Standard Chartered is uniquely positioned to mobilise this capital and investment towards our footprint markets across Asia, Africa and the Middle East.  

    Marissa Drew, Chief Sustainability Officer, Standard Chartered:

    We’re pleased to partner with the UK at COP29 and will use this platform, alongside the full breadth of our sustainable finance expertise, to help scale finance and innovative solutions in support of the Paris Agreement. The UK has some of the deepest pools of internationally oriented capital and as a leading international cross-border bank, headquartered in the UK, Standard Chartered is uniquely positioned to mobilise this capital towards sustainable and inclusive growth across our footprint markets in Asia, Africa and the Middle East.

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Prime Minister Justin Trudeau speaks with President of Ukraine Volodymyr Zelenskyy

    Source: Government of Canada – Prime Minister

    Today, Prime Minister Justin Trudeau spoke with the President of Ukraine, Volodymyr Zelenskyy.

    The leaders discussed the situation on the ground, and Prime Minister Trudeau reaffirmed Canada’s commitment to providing military, financial, humanitarian, and other support to Ukraine until it achieves victory against Russia’s unjustifiable war of aggression.

    Prime Minister Trudeau reaffirmed Canada’s support for President Zelenskyy’s ongoing diplomatic efforts toward a just and sustainable peace. The two leaders also discussed Ukraine’s victory plan, and the Prime Minister conveyed Canada’s support for the plan’s objectives.

    The leaders condemned North Korea’s troop deployment to support Russia’s ongoing war of aggression against Ukraine.

    The Prime Minister and the President noted the success of the Ministerial Conference on the Human Dimension of Ukraine’s 10-Point Peace Formula, which was held last week in Montréal, Quebec. They highlighted the efforts made at the Conference to help return deported children, unlawfully detained civilians, and prisoners of war currently held by Russia, as well as to reintegrate them back into their daily lives in Ukraine.

    The leaders agreed to remain in close and regular contact.

    Associated Links

    MIL OSI Canada News –

  • MIL-OSI USA: Warren, Hickenlooper Call on Fed to Deliver Bigger Rate Cut to Protect the Economy and Provide Relief for American Families

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    November 04, 2024
    With new inflation data showing inflation nearly at Fed’s target, Senators call for .5% cut
    “If the Fed moves forward with more rate cuts, housing prices and mortgage rates would thus also likely drop, allowing more families to achieve the American dream.” 
    Text of Letter (PDF) 
    Washington, D.C. – Ahead of the Federal Reserve’s (Fed; the Board) November Federal Open Market Committee  meeting, U.S. Senator Elizabeth Warren (D-Mass.) and John Hickenlooper (D-Colo.) urged Fed to deliver a 50 basis point (.50%; each basis point is one hundredth of a percent) cut to the federal funds rate. 
    After months of calling on the Fed to cut the federal funds rate, the Board finally lowered it by 50 basis points in September, the first cut since 2020. The Fed explained: “[t]he Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance.”
    Recent economic data shows that inflation has fallen to 2.1 percent, the lowest since February of 2021. There is no need for restrictive interest rates given this inflation data.
    Even as the economy remains strong, the demand for workers may be waning due to the Fed’s restrictive monetary policy. New statistics from the Department of Labor indicate that unemployment claims fell while the number of Americans collecting unemployment benefits rose, suggesting unemployed people are having a more difficult time landing jobs. 
    The Senators noted that borrowing costs, and in turn housing costs, are still too high. Lowering interest rates is key to unlocking more supply: rate cuts will lower the cost of capital, which would help tackle inflation by spurring more housing construction and consequently lowering housing prices. However, the Fed’s high interest rates have suppressed housing construction for years. 
    “If the Fed moves forward with more rate cuts, housing prices and mortgage rates would thus also likely drop, allowing more families to achieve the American dream,” wrote the senators. 
    Senator Warren has been ringing the alarm bells about the serious dangers of Chair Powell’s failure to lower interest rates: 
    In September 2024, Senators Elizabeth Warren, John Hickenlooper (D-Colo.), and Sheldon Whitehouse (D-R.I.) called on the Fed to cut the federal funds rate, currently at a two decade-high of 5.3 percent, by 75 basis points at the September Federal Open Market Committee meeting. 
    In July 2024, Senators Warren, Hickenlooper (D-Colo.), and Sheldon Whitehouse (D-R.I.) urged Fed Chair Jerome Powell, cut to interest rates at the Fed’s July Federal Open Market Committee (FOMC) meeting, in light of economic data showing that inflation was decreasing and very close to the Fed’s target. 
    In June 2024, Senators Warren, Rosen (D-Nev.), and Hickenlooper (D-Colo.) wrote to the Federal Reserve (the Fed), urging Chair Jerome Powell to cut the federal funds interest rates from the two-decade-high of 5.5 percent.
    In March 2024, Senators Warren and Sheldon Whitehouse (D-R.I.) sent a letter to Chair Powell, expressing concerns about the damaging impact of the Fed’s extreme 2022 and 2023 interest rate hikes, which have halted deployment of clean energy technologies and have undermined the Inflation Reduction Act’s climate and consumer benefits. The senators called on the Fed to cut interest rates to allow for continued progress on clean energy projects and the climate and economic benefits they provide. 
    In January 2024, Senators Warren, John Hickenlooper (D-Colo.), Jacky Rosen (D-Nev.), and Whitehouse sent a letter to Chair Powell, calling on the Fed to reverse its troubling interest rate hikes that have driven mortgage rates to 20-year highs and have put affordable housing out of reach for too many Americans. 
    In July 2023, Senator Warren sent a letter to Chair Powell, raising concerns about the disproportionate impact of the Fed’s monetary policy amid rising unemployment for Black workers. 
    In May 2023, Senator Warren led lawmakers in a letter to Chair Powell, calling on the Fed to pause interest rate hikes and respect its dual mandate of maximum employment and price stability, particularly in the wake of recent turmoil in the banking system following the collapses of Silicon Valley Bank, Signature Bank, and First Republic Bank. The lawmakers expressed serious concerns that the Fed’s monetary policy strategy of more rate hikes could trigger a recession, throw millions out of work, and crush small businesses. 
    In March 2023, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren questioned Chair Powell on the Fed’s monetary policy plan and its projection that the unemployment rate will rise sharply to 4.6% by the end of the year if the Fed continues to raise interest rates. Senator Warren highlighted that the Fed’s projections suggest that nearly 2 million people will lose their jobs, and that history shows that the Fed has a poor track record of containing moderate increases in unemployment.
    In November 2022, Senator Warren and Representative Madeleine Dean (D-Pa.) led their colleagues in sending a letter to Chair Powell, expressing concern and seeking answers about the Fed’s most recent economic projections, its intentions to continue to raise interest rates at a rapid pace, and its disturbing warning to American families that they should expect “pain” in the coming months. 
    In July 2022, Senator Warren published an op-ed in the Wall Street Journal warning that the Fed’s decision to aggressively raise interest rates risks triggering a devastating recession.
    In June 2022, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren called out Chair Powell for the Fed’s announced interest rate increases that wouldn’t address the key drivers of inflation. Chair Powell confirmed that the Fed’s interest rate increases will not bring down gas and food prices, two of the biggest drivers of inflation.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: GAD summarises aspects of the Autumn Budget 2024

    Source: United Kingdom – Executive Government Non-Ministerial Departments

    In this Technical Bulletin, GAD summarises various aspects of the Autumn Budget 2024. We focus on a selection of measures most closely linked to GAD’s work.

    Credit: Shutterstock

    The Government Actuary’s Department (GAD) has produced a summary of various aspects of the Autumn Budget 2024. It focuses on a selection of the Budget measures most closely linked to GAD’s work.

    Budget relevance to GAD

    As a department which advises on financial risk, the implications of a new budget are important for GAD’s work and the clients we support. GAD provides actuarial solutions on a non-profit basis for the government and wider public sector using:

    • risk analysis
    • modelling
    • quality assurance and advice
    • data insights to identify trends and share insights

    A significant proportion of our work is on aspects of public service pension schemes. These affect 15 million working and retired people including police, firefighters, teachers, civil servants, doctors and nurses.

    Credit: Shutterstock

    Our skills further support government departments and stakeholder initiatives. Examples of these include reports on Great Britain’s National Insurance fund and on the State Pension age.

    Topics covered

    The Autumn Budget 2024 covered a number of topics relevant for GAD, ranging from National Insurance to pensions, and from fiscal forecasts to investment in public services. Further details can be found in the GAD Technical Bulletin.

    Updates to this page

    Published 4 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Grants boost multiculturalism and fight racism

    Source: Government of Canada regional news

    Alberta’s diverse cultural communities are one of the many things that make the province a great place to live, work and raise a family. Up to $13.5 million over three years has been dedicated to help support community organizations and Indigenous communities promote the value and benefit of multiculturalism and intercultural connections through two grant programs.

    “Our government is committed to working with communities to promote and foster respect and inclusion for all Albertans, regardless of cultural background or origin. These grants support locally driven initiatives that honour our multicultural communities and Indigenous and Métis Peoples in Alberta, helping build a strong and inclusive society.”

    Muhammad Yaseen, Minister of Immigration and Multiculturalism

    Ethnocultural Grant Program

    Alberta’s Ethnocultural Grant program has two streams to support community-led initiatives that promote Alberta’s multicultural diversity and foster inclusivity, including by supporting Indigenous community organizations in celebrating and sharing their rich culture and heritage.

    • Stream 1 provides up to $50,000 for projects that create opportunities for intercultural connections with ethnocultural and Indigenous groups.
    • Stream 2 provides up to $15,000 for projects that create opportunities to celebrate diversity.

    Anti-Racism Grant Program

    Alberta’s Anti-Racism Grant program has two streams to support community-led initiatives that help address and prevent racism and promote more inclusive and accepting multicultural communities across Alberta.

    • Stream 1 provides up to $5,000 for projects that promote awareness and the impacts of racism faced by Indigenous and racialized groups.
    • Stream 2 provides up to $10,000 to support community-led anti-racism projects.

    This past spring, the Ethnocultural Grant program supported 182 projects with a total of $5.1 million to deliver programs to increase cross-cultural awareness, and 49 anti-racism initiatives received a total of $424,000 in funding through the Anti-Racism Grant program.

    “This grant was crucial to the success of our project. It enabled us to expand the scale of our event, ensuring we could include more diverse performances, educational workshops and community engagement activities. Without this financial support, it would have been impossible to achieve the same level of impact, particularly in reaching underrepresented communities and providing free access to the public.”

    Lanre Ajayi, artistic & creative director, Ethnik Festival Association, 2024 Ethnocultural Grant recipient for Ethnik Learning & Empowerment Program

    “The success of our initiative to minimize systemic discrimination and foster collaboration across sectors in Medicine Hat would not have been possible without the dedicated involvement of community leaders. The government’s grant has played a pivotal role, particularly by enabling the opportunity to create a video series after the Newcomer Connectivity Summit. This funding ensures that the stories and actionable insights from the summit will reach a broader audience, enhancing both the project’s impact and sustainability as we continue to tackle the challenges newcomers face.”

    Julie McDonald, administrator, The Connection Intercultural Association of Medicine Hat, 2024 Anti-Racism Grant recipient for Breaking Systemic Barriers in Organizations and Individuals

    Related information

    • Alberta.ca/ethnocultural-grant
    • Alberta.ca/anti-racism-grant  

    MIL OSI Canada News –

  • MIL-OSI USA: Brics Summit: Which countries recently joined the bloc? Which want to and why? – FirstPost (India)

    Source: United States Institute of Peace

    Brics is expanding.

    The grouping which originally began with Brazil, Russia, India, China – was coined in 2001 by then Goldman Sachs chief economist Jim O’Neill – expanded to include South Africa in 2010.

    The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies.

    Its creation was initiated by Russia.

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    The group is not a formal multilateral organisation like the United Nations, World Bank or the Organisation of the Petroleum Exporting Countries (OPEC).

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    The heads of state and government of the member nations convene annually with each nation taking up a one-year rotating chairmanship of the group.

    It now represents around 3.5 billion people – 45 per cent of the world’s population.

    Its combined economies are valued at over $28.5 trillion – nearly a third of the global economy.

    But which countries have recently joined? Which want to join now and why? And what does the expansion mean for the West?

    With Prime Minister Narendra Modi attending the 16th Brics Summit in Kazan, let’s take a closer look at how Brics is expanding.

    Which countries joined recently?

    Brics in 2023 invited six countries – Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates – to become new members of the bloc.

    Editor’s Picks

    The formal invitation was made during a summit in August in Johannesburg.

    While all BRICS members had publicly expressed support for growing the bloc, there were divisions among the leaders over how much and how quickly.

    Members at the time said the move would help reshuffle a world order they view as outdated.

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    In January, five of these nations – Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates – said they were joining the BRICS bloc.

    Argentina declined the invitation to join.

    As per Al Jazeera, this came after President Javier Milei took office.

    Milei has vowed to increase ties with the West.

    However, Saudi Arabia later said it is not yet joining the group and that the matter is being considered by its leadership.

    Ultimately, Egypt, Iran, Ethiopia, and UAE joined the bloc.

    Which want to join now and why?

    Dozens of countries have voiced interest in joining the grouping.

    Algeria, Bolivia, Cuba, Democratic Republic of Congo, Turkiye, Comoros, Gabon, Kazakhstan, Vietnam, Thailand and Malaysia have all expressed interest in joining the forum.

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    Turkiye, a Nato member, formally requested to join BRICS in September.

    As p_er Bloomberg,_ Turkiye is looking to become part of the bloc as it eyes increasing its global influence.

    President Recep Tayyip Erdogan’s administration is looking further than its time-tested allies in the West, people familiar with the development told the outlet.

    Erdogan’s government believes the centre of geopolitics is moving away from the developed economies.

    Turkiye is also eyeing improving its economic relationship with Russia and China.

    Turkiye under President Tayyip Erdogan is looking to join Brics. Reuters

    This is a departure for the NATO member nation which has historically been suspicious of Moscow and been a US ally.

    Turkiye is also thought to be upset over the lack of forward movement in its decades-long attempt to join the European Union.

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    According to Al Jazeera, Thailand said it was interested in joining the grouping during the BRICS Dialogue with Developing Countries held in Russia in June.

    Malaysia too expressed interest in becoming a member ahead of a visit from Chinese Premier Li Qiang.

    The bloc “can help Malaysia’s digital economy grow faster by allowing it to integrate with countries that have strong digital markets and also take advantage of best practices from other members,” Rahul Mishra, associate professor at the Center for Indo-Pacific Studies at Jawaharlal Nehru University in New Delhi, told DW.

    “Thailand would also be able to draw investments in important industries including services, manufacturing, and agriculture,” Mishra added.

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    Bolivia’s President Luis Arce has expressed interest in BRICS membership.

    His government has said it is determined to curb dependence on the US dollar for foreign trade, instead turning to the Chinese yuan, in line with BRICS leaders’ stated aim to reduce dependence on the US currency.

    Algeria last July it has applied for BRICS membership and to become a shareholder in the New Development Bank, the so-called BRICS Bank.

    The North African nation is rich in oil and gas resources and is seeking to diversify its economy and strengthen partnership with China and other countries.

    The countries hope the bloc can level the global playing field. Most nations view BRICS as an alternative to global bodies viewed as dominated by the traditional Western powers and hope membership will unlock benefits including development finance, and increased trade and investment.

    Dissatisfaction with the global order among developing nations was exacerbated by the COVID-19 pandemic when life-saving vaccines were hoarded by the rich countries.

    “That so many countries are willing to go to Russia, deemed a pariah state not so long ago for having violated international law by invading Ukraine, confirms a trend followed by an increasing number of countries in the world: They don’t want to have to choose between partners,” Tara Varma, a visiting fellow at the Brookings Institute, told Al Jazeera.

    Adam Gallagher, writing for USIP.org, noting the size of the bloc, said there are clear economic benefits to joining the grouping.

    “Intra-BRICS trade is one area that the group has found its footing,” Gallagher said. He noted how the June 2024 BRICS foreign minister’s meeting encouraged “enhanced use of local currencies in trade and financial transactions” by Brics members.

    Gallagher said that countries like Malaysia, who want to join the grouping, are looking to form alliances across the globe and preserve their strategic autonomy.

    “For these countries, it’s not about taking sides. Some countries also believe BRICS membership will give them a greater voice and representation in international politics. It’s not all about anti-Western ideology,” Gallagher wrote.

    James Chin, a professor of Asian Studies at the University of Tasmania told DW “both Thailand and Malaysia are seen as middle powers.”

    “It’s better for them to join groups like BRICS so that they will have a larger voice in the international arena. But the major benefit will be trade,” Chin added.

    What does the expansion mean for the West?

    Experts say that these growing number of nations who want to join Brics shows that they want their financial independence – and that the established world order may be vulnerable.

    “In the aftermath of the war in Gaza, Russia and China have more effectively harnessed this anti-Western sentiment, capitalising on frustrations over Western double standards as well as the use of sanctions and economic coercion by the West,” Asli Aydintasbas, a Turkish foreign policy expert, was quoted as telling the Brookings Institute as per Al Jazeera.

    “It doesn’t mean that middle powers want to trade US dominance for Chinese, but it means they are open to aligning with Russia and China for a more fragmented and autonomous world.”

    As per Al Jazeera, Brics members and their associates clearly want to decrease their reliance on the US dollar and Europe’s Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.

    Malaysian Prime Minister Anwar Ibrahim walks with Indian Prime Minister Narendra Modi during Anwar’s ceremonial reception at India’s Presidential Palace Rashtrapati Bhavan in New Delhi, India, August 20, 2024. REUTERS

    This comes after Russia was cut-off from the system in the aftermath of the invasion of Ukraine in 2022.

    “China now has an alternative to the SWIFT payment system, though limited in use, and countries like Turkiye and Brazil increasingly restructure their dollar reserves into gold,” Aydintasbas added. “Currency swaps for energy deals are also a popular idea – all suggesting a desire for greater financial independence from the West.”

    As per CFR.org, Western nations until now have talked down the bloc as a threat.

    White House National Security Advisor Jake Sullivan has said Brics isn’t a geopolitical rival, while Treasury Secretary Janet Yellen has downplayed the de-dollarisation strategy of Russia and China.

    But some argue that the West needs to do some serious introspection.

    “The accusation that the West is arrogant toward the needs of the Global South is serious. It cannot be answered by offering ‘value-based partnerships’ and a ‘rules-based’ multilateralism when the interest of the BRICS is focused on changing those rules in global finance, trade, and other standard-setting procedures,” Günther Maihold, senior fellow at the German Institute for International and Security Affairs, was quoted as saying by CFR.org.

    “Ignoring BRICS as a major policy force—something the U.S. has been prone to do in the past—is no longer an option,” Tufts University scholars wrote in 2023.

    It remains to be seen how the US-led West will react.

    With inputs from agencies

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Labour must rule out tuition fees for Scotland

    Source: Scottish Greens

    04 Nov 2024 Education

    Tuition fees are a fundamentally unfair policy.

    More in Education

    Scottish Labour leader Anas Sarwar has been urged to rule out the introduction of tuition fees under any future Scottish Labour government, following reports that the UK Labour government will hike fees for students in England to record levels.

    Scottish Greens education spokesperson Ross Greer has urged Mr Sarwar to condemn the unfair decision and to instruct Scottish Labour MPs to vote against it.

    Mr Greer said:

    “Tuition fees are a fundamentally unfair policy, saddling young people with decades of debt and financial anxiety that many will never pay off. 

    “We all benefit from a well-educated society where higher education is open to everyone, not just those that can afford it.

    “England already has some of the highest university fees in the world, but Sir Keir Starmer and his Labour colleagues seem happy to repeat Nick Clegg’s mistakes with a whole new generation of students – raising fees beyond anything the Tories and Lib Dems introduced.

    “Scottish Labour must explain whether their MPs support this hike and where it leaves their tuition policy for Scotland. Anas Sarwar should not only condemn this decision, he should show some leadership by instructing Scottish Labour MPs to oppose it. Most importantly though, he must rule out any attempt to inflict tuition fees on students in Scotland.

    “The Scottish Greens will always stand up for students and oppose attempts by Labour or any other party to reintroduce tuition fees in Scotland.”

    MIL OSI United Kingdom –