The World Economic Outlook (WEO) is a survey of prospects and policies by the IMF staff, usually published twice a year, with updates in between. It presents analyses and projections of the world economy in the near and medium term, which are integral elements of the IMF’s surveillance of economic developments and policies in its member countries and of the global economic system.
RELEASE DATES
WEDNESDAY, OCTOBER 16, 9 AM ET: Chapter 2: The Great Tightening: Insights from the Recent Inflation Episode
WEDNESDAY, OCTOBER 16, 11 AM ET: Chapter 3: Understanding the Social Acceptability of Structural Reforms
TUESDAY, OCTOBER 22, 9:00 AM ET: Press Briefing: World Economic Outlook
The chapters will be available for download on this page starting on October 16. Stay tuned for updates!
The World Economic Outlook (WEO) is a survey of prospects and policies by the IMF staff, usually published twice a year, with updates in between. It presents analyses and projections of the world economy in the near and medium term, which are integral elements of the IMF’s surveillance of economic developments and policies in its member countries and of the global economic system.
RELEASE DATES
WEDNESDAY, OCTOBER 16, 9 AM ET: Chapter 2: The Great Tightening: Insights from the Recent Inflation Episode
WEDNESDAY, OCTOBER 16, 11 AM ET: Chapter 3: Understanding the Social Acceptability of Structural Reforms
TUESDAY, OCTOBER 22, 9:00 AM ET: Press Briefing: World Economic Outlook
The chapters will be available for download on this page starting on October 16. Stay tuned for updates!
As the global economy faces increasing fiscal challenges, multilateral surveillance of fiscal developments has become an important part of the IMF’s surveillance responsibilities. The Fiscal Monitor series provides an overview of latest public finance developments, updates the medium-term fiscal outlook, and assesses fiscal implications of policies relevant to the global economy.
RELEASE DATES
TUESDAY, OCTOBER 15 @ 12 AM ET: Chapter 1: Putting a Lid on Public Debt
WEDNESDAY, OCTOBER 23 @ 9:00 AM ET: Press Briefing, Full Report & MSA APPENDIX
The chapter will be available for download on this page starting October 15. Stay tuned for updates!
Headline: How AI is poised to transform air travel, from reservations and check-in to baggage handling
Introducing a new industry reference architecture for airlines and airports
The aviation industry is entering a new era: airlines and airports worldwide are on the brink of transformation, driven by the power of generative AI. This powerful technology is creating new value at every stage of the aviation ecosystem, revolutionizing the way we fly and operate. From personalized travel offers to instant responses for customer service requests, AI is enhancing every step of your journey, making travel smoother and more personalized than ever before.
Generative AI is also transforming the core operations of airlines and airports. Research shows that up to 35% of flight delays can be reduced through AI-powered decision-making—saving time, reducing stress, and increasing safety for both travelers and staff.1
AI is also reshaping the workforce. With streamlined tasks and smarter tools, staff can dedicate more time to enhancing the passenger experience—both on the ground and in the air. AI-powered personalization can increase revenue per passenger by 10 to 15%. At the same time, intelligent AI chatbots can reduce customer service costs by up to 30%, creating significant value for both airlines and airports.2
This is the future of aviation. AI is not just a tool—it’s a revolution, creating value across the entire industry. Microsoft has developed a new industry reference architecture enabling AI for a seamless traveler journey, efficient airline operations, and enhanced airport operations.
Create connected mobility experiences with AI-powered solutions >
Seamless traveler journey
The experience begins the moment a traveler considers a trip. They can interact with an AI-powered mobile app to explore options, book flights, and receive personalized recommendations. Throughout their journey, the app serves as a digital assistant, providing real-time updates on flight status, gate changes, and the weather at the destination. At the airport, travelers can navigate through a touchless experience, from check-in to security, using biometric identification and e-boarding passes on their mobile devices. The app continues to assist by guiding them to their gate, offering lounge access, and updating any travel alerts.
Once on board, the digital assistant ensures a comfortable experience by allowing travelers to control in-flight entertainment, order food and items from the onboard shop, and adjust seating preferences through their mobile device. The journey concludes with the app facilitating a smooth arrival process, including customs and baggage claim guidance, and arranging for ground transportation. Throughout this journey, AI and machine learning algorithms work behind the scenes to anticipate needs, offer timely assistance, and personalize the travel experience.
Air India passengers, for example, now get answers to all their questions from planning to arrival at their fingertips. Their AI.g virtual assistant, powered by Microsoft AI services, quickly proposes a travel itinerary for passengers, finds answers about check-in options and flight status, recommends the best food options, finds the next business lounge or helps with lost luggage. Another example is Saudia Airlines. The flag carrier of Saudi Arabia developed an AI-powered travel companion for their passengers using Microsoft technology to enable travel-related services like: planning and booking, refund management, and exploring new destinations.
Efficient airline operations
AI working on data platforms enhances efficiency and customer experience across various segments of the airline value chain.
In aircraft handling, AI-powered predictive maintenance can forecast potential issues before they occur, minimizing downtime and ensuring timely operations. Ground support equipment can be optimized using AI algorithms to streamline processes and reduce delays.
In ground operations, AI can manage complex logistics, from baggage handling to fuel management, by analyzing vast amounts of data to optimize workflows and resource allocation. This leads to smoother operations and can significantly reduce turnaround times for aircraft.
Flight operations benefit from AI through advanced analytics that can assist in route planning, weather forecasting, and fuel consumption optimization. By leveraging historical data and real-time inputs, AI can provide pilots and flight planners with insights that lead to safer and more cost-effective flights.
For marketing and sales, AI enables personalized customer experiences by analyzing customer data to tailor offerings and promotions. This can lead to increased customer loyalty and revenue as airlines can offer the right product to the right customer at the right time.
In customer support, AI-powered chatbots and virtual assistants provide around the clock support, handling inquiries and resolving issues promptly. This not only improves customer satisfaction but also frees up human agents to deal with more complex queries, enhancing overall service quality.
Lufthansa, for example, developed the one data platform built on Microsoft Azure to provide self-service applications and leverage cognitive AI services like image and speech recognition.
“Leveraging Microsoft Azure’s robust cloud capabilities, we’ve transformed Lufthansa’s operations with a unified data platform. This innovation empowers us to optimize every aspect of our service, from ground operations to in-flight experiences, ensuring punctuality and safety across our global network—continuing to use AI will help us advance to the level.”
Ganesh Swaminathan, Head of Platforms, Lufthansa Group Digital Hangar
American Airlines, the world’s largest airline, is using Azure as its preferred cloud platform. Their team members now use the ConnectMe app for the latest crew information while the airline is using AI to reduce taxi time and turn times at gates.
Microsoft AI
Enhanced airport operations
Generative AI and data platforms also play a pivotal role in enhancing airport operations, catering to the needs of tens of thousands of passengers daily. Airports can optimize their critical infrastructure management, such as energy, water, and climate control. The integration of AI into security and emergency services significantly enhances their capabilities, providing a safer and more secure environment for travelers. Connected transportation systems such as buses and trains benefit from predictive analytics and real-time data processing capabilities, leading to improved scheduling and passenger flow management.
In the realm of commerce, which encompasses retail stores and restaurants within the airport, generative AI and data platforms offer valuable insights into consumer behavior, enabling businesses to tailor their services and inventory to meet the dynamic needs of passengers.
The logistics and supply chains for cargo, fuel, and baggage are also transformed by these technologies, with AI-powered systems facilitating better tracking, forecasting, and management of resources. This results in a more streamlined and cost-effective operation, reducing delays and enhancing the overall passenger experience. Fraport has introduced FraportGPT, an example of an employee-facing app powered by Microsoft Azure OpenAI Service to streamline internal processes.
“Fraport’s company GPT app, powered by Generative AI, has been a resounding success, swiftly adopted by our team. It’s not just streamlined our processes; it’s accelerated skill acquisition, empowering our employees to master new competencies with unprecedented speed.”
Christian Wrobel, Chief Data Architect, Fraport AG
Together with Microsoft, Miami International Airport (MIA) has developed a centralized data hub environment, known as the Common Data Environment (CDE), to store, manage, and share business data, apps, and business process flows. This is crucial for breaking down data silos and ensuring data accessibility for analysis and helps unlocking additional value from generative AI.
“By integrating various data sources, including on-premises, cloud, and edge environments, we provide a unified and scalable platform for data management. This is the basis, and together with our partner Microsoft we will now be able to leverage advanced technologies such as AI, machine learning, and IoT to gain insights, make data-driven decisions, and drive innovation.”
Maurice Jenkins, Chief Innovation Officer, Miami International Airport
The overarching reference architecture and partners
Our common architecture for airports and airlines is built among core elements with the ultimate goal to create AI-enhanced experiences for everyone, from passengers to ground personnel: the creation of user-facing applications, data storage and analytics, and data ingestion and integration of existing data systems.
Figure 1: Industry reference architecture for airlinesFigure 2: Industry reference architecture for airports
The AI-enhanced experiences are tailored to each user group.
For passengers, it is all about a smooth journey from origin to destination, with plenty of time to enjoy travel with retail, entertainment, and restaurant offers.
Ground staff and customer service focus on making the passenger experience smooth, even when something goes wrong.
Pilots and crew members require support for coordination, communication, and the reduction of their management overload.
For technicians, it is about knowing where to go next, reducing cognitive workload for maintenance and repair tasks, and automating documentation.
Terminal managers require support to manage traffic, ensure security, and provide travel comfort.
For airside operators, it is about managing baggage, refueling, and safety.
Different user groups require different backend applications and data sources. The user-facing applications layer describes some of the common front-end experiences that can be built using Microsoft services.
End users require mobile and web applications built using services such as Azure API Management, Azure App Service and Azure Functions. Developers create AI-powered user experiences leveraging services such as Azure OpenAI Service. These applications can be deployed in Azure tenants and can scale to millions of users.
Business users leverage Dynamics 365 (Customer Service, Finance, Project Operations, and Customer Insights) to manage business operations, such as claims, promotions, and ticketing. Dynamics 365 has built-in custom agents for many common business use cases such as customer service, sales, finance, field service, and customer insights.
Front line workers are fully integrated in the business with customized workflows and automated operations with custom AI, tailored to their needs and the ergonomics of their workplaces—wherever fixed terminals, mobile devices, or augmented reality. Microsoft Copilot Studio facilitates the creation of custom AI agents to support their work. Power Apps enables the creation of custom user interfaces, while Power Automate enables the creation of business workflows.
With Microsoft 365 Copilot, employees can collaborate and communicate using Microsoft products such as Microsoft Teams, SharePoint, and Outlook.
The operation of airports and airlines generates large amounts of data. The data storage and analytics layer describes how to securely store business data to support operations and create insights.
Microsoft Dataverse is a scalable data platform that securely stores and manage business data. The data model is a structure framework that organizes data in tables with relationships. It is possible to use industry models to harmonize and integrate business data across multiple applications.
Microsoft Fabric is an end-to-end data and analytics platform that includes real-time analytics capabilities. OneLake is a unified logical data lake that centralizes and simplifies data management, with multiple analytical engines and workspaces. Fabric enables organizations to process and analyze data for timely insights and decision making.
Airports and airlines are established businesses. It is important to integrate existing data systems, such as connected assets as well as existing systems. Messaging services on Azure enables connectivity to assets and devices using standardized communication protocols such as Message Queuing Telemetry Transport (MQTT) with Azure Event Grid, or data streams like Apache Kafka using Azure Event Hubs. Serverless solutions like Azure Functions provide compute to process messages.
We’re also proud to collaborate with leading partners driving innovation in aviation.
Amadeus and Microsoft have formed a global strategic partnership that harnesses cloud technology to innovate and explore new products and solutions and create smoother travel experiences.
SAP deployments on Azure provide robust cloud solutions tailored to customer needs.
Our partnership with SITA, and their SITA Mission Control solution, helps duty personnel anticipate and respond to real-time changes during flight operations.
We also integrate independent software vendors (ISVs), such as SmartKargo, PROS, and Satavia, to contribute to a smarter, more connected aviation ecosystem.
Creating frontline worker experiences
Frontline worker experiences are highly customized to the task and require constant adaptation. The power of low-code platforms like Power Apps and Copilot Studio significantly reduce the time to value, allowing for rapid development and deployment of tailored solutions. These platforms enable the integration of multiple data sources, such as location-based services, logistical information from Dynamics 365, and documentation search. Additionally, task support is enhanced through the use of knowledge graphs and manuals, while collaboration and information regarding connected assets are seamlessly incorporated.
Figure 3: Terminal maintenance experience
Overcoming the challenges of using AI in aviation
While the potential of AI in aviation is immense, there are key challenges: defining the most valuable AI use cases, setting up cloud infrastructure, organizing the data estate, and minimizing costs during development, testing, and deployment phases.
Microsoft addresses the challenges of AI in aviation by working closely with partners, establishing a framework for responsible and trusted AI principles, and leveraging its comprehensive suite of tools and services. It helps define valuable AI use cases through collaborative workshops and industry-specific solutions. Azure provides scalable cloud infrastructure, while Microsoft Dataverse and OneLake streamline data management. Cost efficiency is achieved through optimized development, testing, and deployment processes. Additionally, Microsoft provides extensive training programs to equip employees with necessary AI skills and collaborates with regulatory bodies to ensure compliance with legal frameworks governing AI usage.
Moving forward with generative AI in aviation
Taking advantage of generative AI requires a pragmatic approach, where existing solutions are combined with new capabilities and partner solutions. Correctly identifying the use cases with the highest priority and impact is critical for success.
Visit Microsoft for travel and transportation or contact our team to learn more and take the next step in your AI journey.
“We’re excited to introduce our new reference architecture for the aviation industry, built on Azure’s cloud capabilities and advanced AI tools. What truly makes this effort stand out is our collaboration with leading aviation partners. Together with our partners, we’re shaping the future of the aviation industry.”
Julie Shainock, Managing Director Travel & Transportation Industry, Microsoft
“Microsoft’s Industry Solutions team is ready to help you deliver and implement AI-driven solutions across your organization: From a first [proof of concept] POC to full-scale rollouts, we are dedicated to providing the expertise you need to ensure a smooth and successful deployment.”
Eric Chaniot, General Manager of AI Industry Solutions, Microsoft
“At Microsoft Cloud for Industries, we are committed to empowering our partners with proven patterns and comprehensive enablement resources. By leveraging our industry-specific solutions and collaborative approach, we help partners accelerate innovation, streamline operations, and deliver exceptional value so that their customers can achieve more.”
Monica Ugwi, General Manager Cloud for Industries, Manufacturing & Mobility, Microsoft
1Worldmetrics: AI in the Airline Industry, 2024.
2The economic potential of generative AI, McKinsey & Co., 2023.
Launch of the October 2024 Global Financial Stability Report
The Global Financial Stability Report provides an assessment of the global financial system and markets, and addresses emerging market financing in a global context. It focuses on current market conditions, highlighting systemic issues that could pose a risk to financial stability and sustained market access by emerging market borrowers. The Report draws out the financial ramifications of economic imbalances highlighted by the IMF’s World Economic Outlook. It contains, as special features, analytical chapters or essays on structural or systemic issues relevant to international financial stability.
RELEASE DATES
TUESDAY, OCTOBER 15, 9 AM ET: Chapter 3: Advances in Artificial Intelligence: Implications for Capital Market Activities
TUESDAY, OCTOBER 15, 12 PM ET: Chapter 2: Macrofinancial Stability Amid High Economic Uncertainty
TUESDAY, OCTOBER 22, 10:15 AM ET: Press Briefing: Global Financial Stability Report
The chapters will be available for download on this page starting on October 15. Stay tuned for updates!
A nature pilot project founded by the Go Flourish charity was officially opened on Saturday 5 October by Raoul Curtis-Machin, Director of Horticulture, Royal Botanic Garden Edinburgh, much to the excitement of the many North Kessock Primary School pupils, parents and carers, teachers, and local community members who attended the event.
The Go Flourish Charity was established by Jane-Julia Gladwin in 2023 to bring a range of benefits to schools by establishing high quality teaching gardens within school grounds. The three-year North Kessock pilot project will be monitored by researchers at the University of St Andrews, Psychology and Neuroscience School, to examine the impact of the gardening programme on children’s well-being and to demonstrate proof of concept by gathering data on a range of benefits.
The North Kessock PS Go Flourish project is supported by fully qualified teacher, Laura Dorantt, who, as Liaison Teacher, has been working with the school over the last year in preparation to establish the garden in the school’s outdoor education curriculum. With the garden now installed and open, she will lead timetabled classes for pupils, and as the garden develops, will liaise with the local community to develop and sustain the Go Flourish Garden for the benefits of education, health, and community resilience. Based on the enthusiastic attendance of the school and local community at the Opening Day, Go Flourish is off to a very promising start.
The Highland Council’s Education Committee Chair, Cllr John Finlayson said: “This partnership project, designed to improve wellbeing and essential life skills is supported by the vision of the “Go Flourish Project” and St Andrews University’s School of Psychology and Neuroscience who will collate appropriate data and analysis to demonstrate the impact of the pilot project.
“I would like to acknowledge our gratitude to the Go Flourish founder and Garden Designer, Julia-Jane Gladwin for her unwavering support and I really look forward to visiting the outdoor classroom and learning from the pupils, staff and community involved in this wonderful project.”
This pilot project will provide:
A three-year scoping study funded by Go Flourish and St Andrews University.
Quantitative data to demonstrate educational, financial and societal benefits of Go Flourish school gardens.
Data backed evidence to inform local education authorities across Scotland and to the Scottish Government on the benefits of incorporating “Go Flourish Gardens” within school communities.
Learning the procedures and steps needed to establish and maintain sustainable gardens on Highland schools.
Go Flourish Charity Founder, Julia-Jane Gladwin said: “Our vision is to reinstate nature at the heart of education. The children at North Kessock Primary School will themselves be the proof of the intrinsic value of this.”
Primary 6 Pupil said: “The garden is cool! I like looking up through the trees when you see the sun shining through. And it smells really nice. It makes me happy.”
The Commission promotes market integration and interconnectivity in the region through the trans-European network framework, the process to establish a list of Projects of Common and Mutual Interest (PCI/PMI) and the work of the Central and South-Eastern Europe Energy Connectivity (CESEC) High-Level group[1]. Several of the region’s PCIs were financially supported from the Connecting Europe Facility in the past[2], increasing interconnectivity.
The existing PCI list contains several projects in the region, such as the interconnector between Hungary and Romania. A new PCI/PMI selection process started in September 2024.
The Commission welcomes projects that will address inter alia a closer integration of the Southeast European region with the other regions in Europe.
While the Commission continues to monitor the situation, it appears that the high prices result from a structural shortage of flexibility in the electricity system of the region in times when it is needed to meet peak demand.
The reform of the electricity market design sets out rules addressing these situations[3]. It aims to make electricity bills more independent from short-term prices and to provide greater incentives for non-fossil flexibility such as demand response and storage.
Union legislation also enables Member States to protect vulnerable consumers with regulated prices at retail level, subject to specific conditions[4].
[3] Regulation (EU) 2024/1747 of the European Parliament and of the Council of 13 June 2024 amending Regulations (EU) 2019/942 and (EU) 2019/943 as regards improving the Union’s electricity market design (OJ L, 2024/1747).
[4] Directive (EU) 2019/944 of the European Parliament and of the Council of 5 June 2019 on common rules for the internal market for electricity and amending Directive 2012/27/EU (OJ 2019, L 158).
The ACP Trust Fund has received pledges worth more than €74 million from seven EU countries.
Denmark, Finland, Germany, Luxembourg, Portugal, Spain and Sweden are the first contributors, adding to the EU contribution launched in February 2023.
In line with the EU Global Gateway strategy, the primary focus of the support will be to provide grants and technical assistance to projects promoting sustainable growth in ACP countries.
The European Investment Bank (EIB Global) has signed agreements with seven EU Member States pledging just over €74 million to a new envelope under the ACP Trust Fund. This funding will promote inclusive and sustainable economic growth and human development, especially in least developed countries and fragile states in Africa, the Caribbean and the Pacific. The ACP Trust Fund envelope supported by EU Member States will target EU Global Gateway projects in ACP countries and support the UN’s Agenda 2030 as well as the Sustainable Development Goals.
“This is a great example of Team Europe partners working together. I look forward to welcoming future donors to the fund so that, together, we can invest in energy, health, climate, food security and digital solutions that will foster green and inclusive growth – ultimately boosting prosperity in Africa, the Caribbean and the Pacific,” said EIB Vice-President Thomas Östros.
Denmark has pledged around €9.9 million, Finland €4.3 million, Germany €30.6 million, Luxembourg €5.4 million, Portugal €2.8 million, Spain €9 million, and Sweden €12.25 million.
Denmark: “Denmark is committed to supporting inclusive green growth globally, including in least developed countries and fragile states. Our ambition is to promote the European Union as an effective and impactful global actor, and that is why we support the EIB’s new ACP Trust Fund. Through the trust fund, we are delighted to be contributing to inclusive and sustainable development – especially in Africa, which is well-aligned with Denmark’s new strategy of stronger engagement with African countries. The trust fund is financed by a true Team Europe approach, and I strongly encourage other European partners to join,” said Lars Løkke Rasmussen, Denmark’s Minister for Foreign Affairs.
Finland: “Finland sees the ACP Trust Fund as an important vehicle to support the implementation of the Global Gateway in African, Caribbean and Pacific countries. We hope that our contribution will, for example, contribute to greater, safer digital connectivity in our partner countries and give European companies more ways to invest in and develop projects in the ACP countries,” said Juha Savolainen, Director General (Department for Development Policy) of Finland’s Ministry for Foreign Affairs.
Germany: “Fostering human and social development, addressing climate change and mobilising investments for sustainable and inclusive growth are at the heart of the EU-ACP partnership. The EIB ACP Trust Fund can help increase the development impact of EIB projects in ACP partner countries, including with regard to the implementation of Global Gateway projects. Therefore, we support it in a Team Europe spirit together with other EU partners,” said Dirk Meyer, Director-General of Germany’s Federal Ministry for Economic Cooperation and Development.
Luxembourg: “Luxembourg is proud to contribute €5.4 million to the ACP Trust Fund, reflecting our commitment to sustainable and inclusive growth in African, Caribbean and Pacific countries. This funding, from the reflows of the former ACP Investment Facility, aims to empower communities, promote environmental sustainability and enhance resilience. We look forward to ongoing collaboration with the EIB, the European Commission and EU Member States to achieve impactful development outcomes,” said Finance Minister of Luxembourg Gilles Roth.
Portugal: “Portugal’s contribution to the ACP Trust Fund reflects our ongoing commitment to sustainable economic, social and environmental development in these regions. By partnering with the European Union and other Member States, we can better leverage resources and collectively unlock financial and technical assistance to target global challenges and achieve impact in areas like climate action, connectivity and job creation,” said Portugal’s Minister of State and Finance Joaquim Miranda Sarmento.
Spain: Spain’s Minister for Foreign Affairs, European Union and Cooperation José Manuel Albares said, “Spain’s €9 million contribution will increase EIB Global’s capacity to reach ACP countries through tailored instruments, such as technical assistance to support capacity-building. We need to unlock sustainable finance for the countries that need it the most, as they often face adverse financing conditions that hinder sustainable development. This contribution reinforces our support for the ACP countries, and is consistent with our commitment to implementing the SDGs and raising more financing for the development agenda, as shown by Spain’s move to host the Fourth International Conference on Financing for Development in Seville in 2025.”
Sweden: “Sweden is glad to contribute to the ACP Trust Fund in a renewal of the historic partnership between the EU and African, Caribbean and Pacific States. The Trust Fund will play an important role in fulfilling the overall objectives of the Global Gateway, linking trade, business and development cooperation in the entire ACP region. We look forward to being part of a broad collaboration encompassing four continents, 79 countries and 1.5 billion people, and to work together on issues of green transition, entrepreneurship and digitalisation”, said Benjamin Dousa, Sweden’s Minister for International Development Cooperation and Foreign Trade.
European Commission: “Enabling the private sector is key to sustainable development. I welcome the Member States’ contribution to the ACP Trust Fund. Together with our powerful risk-sharing instrument, the EFSD+, these resources will underpin the implementation of the Global Gateway investment strategy,” said Commissioner for International Partnerships Jutta Urpilainen.
In 2023, the European Commission and EIB Global signed an agreement for €500 million and launched the first of two envelopes of the ACP Trust Fund to realise high-impact projects in the private sector that could not otherwise be brought to fruition.
The ACP Trust Fund forms part of the Neighbourhood, Development and International Cooperation Instrument (NDICI – Global Europe). Through this programme, the European Commission supports technical assistance and financial instruments spanning equity, quasi-equity, subordinated debt and risk-sharing. Last year in Madagascar, for example, the ACP Trust Fund supported agricultural mechanisation for smallholder farmers and the construction of a refrigerated facility for local fishermen. In Uganda, it helped fund the installation of over 500 telecom towers to broaden access to communications in the countryside.
The Member States envelope of the ACP Trust Fund is an effective complement to the European Commission-financed envelope, and provides technical assistance, investment grants and interest rate subsidies in both the public and private sectors. The technical assistance is expected to help raise standards and ensure that environmental and social requirements are met throughout the preparation and implementation of each project. Investment grants and interest rate subsidies help reduce total financing needs, especially where a project promoter faces debt sustainability constraints.
Background information
The EIB is the long-term lending institution of the European Union, owned by the Member States. It makes long-term finance available for sound investments that pursue EU policy goals. EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner in the Global Gateway. It aims to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. With Team Europe, EIB Global fosters strong, focused partnerships, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through its offices around the world.
Global Gateway
The Global Gateway strategy is the European Union’s offer for partner countries to support their resilience and sustainable development. It aims to narrow the global investment gap with value-driven investments from the public and private sectors, supporting global economic recovery and accompanying the twin green and digital transitions outside the European Union. Worldwide, the Global Gateway aims to mobilise €300 billion in investments between 2021 and 2027, with a mix of grants, concessional loans and guarantees to de-risk private sector investments.
At its 14 October meeting, INTA Members will exchange and vote on the financial assistance package in support of Ukraine consisting of a Ukraine Loan Cooperation Mechanism and an exceptional Macro-Financial Assistance (MFA) loan of up to €35 billion.
Members will also consider two macro-financial assistance programmes: one for Egypt and one for Jordan. Council adopted a short-term MFA of up to €1 billion on 12 April 2024. The current MFA proposal for Egypt would complement the existing €1 billion MFA with a longer-term operation of up to €4 billion. The proposal for a new MFA operation to Jordan is worth up to €500 million dates back to 8 April 2024.
Chief Trade Enforcement Officer Denis Redonnet will present the 42nd Annual Report on the EU’s Anti-Dumping, Anti-Subsidy and Safeguard activities and the Use of Trade Defence Instruments by Third Countries targeting the EU in 2023.
INTA and IMCO will also jointly examine the draft corrigendum of the Forced Labour regulation adopted in the previous legislature.
Question for written answer E-001863/2024/rev.1 to the Commission Rule 144 Joachim Streit (Renew)
Hungary is increasingly promoting its golden passport and visa programmes, especially among Chinese investors. Such schemes are at odds with the principle of sincere cooperation and commodify EU citizenship and right of residence. The fact that citizenship and right of residence can effectively be purchased in Hungary opens the door to corruption, money laundering, security threats and tax avoidance.
It is also important to add that these schemes jeopardise macroeconomic governance and put other Member States at a competitive disadvantage. Member States that comply with EU rules and that have not introduced similar schemes are at a disadvantage vis-à-vis Hungary. In response to my question to the Hungarian Minister for European Union Affairs on the legality of these plans, János Bóka stated at the AFCO Committee meeting that all Member States could do what they wanted.
1.What is the Commission’s assessment of the distortion of competition caused by these schemes? What compensatory financial mechanisms can it propose to reduce the negative economic impact on other Member States caused by this unfair behaviour?
2.What specific steps has the Commission taken to get Hungary to scrap these programmes?
3.How does the Commission’s plan to prevent the continuation of golden passport and visa schemes in Hungary?
Question for written answer E-001947/2024 to the Commission Rule 144 Thierry Mariani (PfE)
The Commission has brought forward a new raft of measures in support of Ukraine’s civilian expenditure, which could translate into an overall outlay of up to EUR 45 billion at EU level.
A portion of that sum will be funded by means of an exceptional financial contribution from the Member States, with a potential EUR 9 billion for France, given its weight within the Union.
The Stability and Growth Pact, which provides a framework for monitoring Member States’ deficits and debt, was revised in the spring.
It established net government expenditure as a new variable for tracking the trajectory of public finances, with such expenditure being understood as gross public expenditure less, inter alia, national expenditure on the co-financing of programmes funded by the Union.
1.Will the Commission include expenditure on support measures for Ukraine decided at EU level in its calculation of net government expenditure?
2.If not, how will it take into account this significant financial effort the EU is imposing on Member States, which is liable to distort the way in which their fiscal trajectories are perceived?
Question for written answer E-001931/2024 to the Commission Rule 144 André Rodrigues (S&D)
On 4 May 2024, a major fire broke out at the Divino Espírito Santo Hospital (DESH) in Ponta Delgada, São Miguel, Azores, putting it out of action. The entire hospital had to be evacuated, with patients being moved into alternative accommodation. The health care system and services on the island and in the wider region also had to be reorganised.
DESH is the largest health facility in the region and the hospital for the other health centres, giving it an important role on the island and in the region as a whole. The disaster has therefore considerably disrupted health care and has had a significant financial impact on the Azores region’s health service and budget.
1.Has Portugal activated the EU Solidarity Fund to help cover the costs of this disaster and quickly restore the hospital? If so, how much funding has been requested?
2.What other EU funding is available to the region and Member State to quickly restore and improve a crucial health facility in one of the EU’s outermost regions?
Question for written answer E-001928/2024 to the Commission Rule 144 Estrella Galán (The Left)
Spain’s Ministry of Industry has allocated upwards of EUR 35 million in European funds to a series of projects in the Autonomous Community of Aragon which, besides failing to comply with the obligatory deadlines for implementation (50 % by December 2024), may be in violation of criteria 1, 2, 3 and 6: mitigating and adapting to climate change; sustainably using and protecting water and marine resources; and protecting and restoring biodiversity and ecosystems.
At issue are (i) the construction projects for new ski lifts in Astun-Candanchú and Benasque-Cerler (which would entail tree felling and severe ramifications on biodiversity and ecosystems); (ii) the construction of a golf course in Panticosa (which would require a large quantity of water and have a devastating impacton water resources, making the recovery of biodiversity difficult); and (iii) the construction of car parks in Sallent de Gállego and Formigal (which would promote the use of private vehicles).
1.Does the Commission intend to investigate the infringement of the basic NextGenerationEU criteria and objectives which may result from the use of EU funds to finance these projects?
2.Given that currently only 1 % of the projects has been completed and, as the Autonomous Community of Aragon itself confesses, 50 % of those projects will not have been completed by the end of December, can the Commission clarify whether it has relaxed the implementation dates for these projects?
– having regard to the Commission proposal to the European Parliament and the Council (COM(2024)0325 – C10‑0088/2024),
– having regard to Article 107(2) of the Treaty on the Functioning of the European Union,
– having regard to Council Regulation (EC) No 2012/2002 of 11 November 2002 establishing the European Union Solidarity Fund(1),
– having regard to Council Regulation (EU, Euratom) 2020/2093 of 17 December 2020 laying down the multiannual financial framework for the years 2021 to 2027(2), and in particular Article 9 thereof,
– having regard to the Interinstitutional Agreement of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources(3), and in particular point 10 thereof,
– having regard to Regulation (EU) 2021/1058 of the European Parliament and of the Council of 24 June 2021 on the European Regional Development Fund and on the Cohesion Fund(4),
– having regard to its resolution of 27 February 2024 on the draft Council regulation amending Regulation (EU, Euratom) 2020/2093 laying down the multiannual financial framework for the years 2021 to 2027(5),
– having regard to its resolution of 20 October 2021 on the effectiveness of Member States’ use of EU Solidarity Fund money in cases of natural disasters(6),
– having regard to its resolution of 18 May 2021 on the review of the European Union Solidarity Fund(7),
– having regard to the EEA Report No 1/2024 – European Climate Risk Assessment (EUCRA),
– having regard to the report of the Committee on Budgets (A10-0002/2024),
A. whereas between 1 and 17 May 2023, the Emilia-Romagna region of Italy experienced extremely intense rainfall which led to flooding resulting in total direct damages estimated by the Italian authorities at EUR 8,5 billion;
B. whereas between 3 and 6 August 2023, Slovenia was impacted by heavy rainfall which led to floods across the country and was its worst natural disaster to date, resulting in total direct damages of EUR 7,3 billion according to the Commission;
C. whereas between 3 and 6 August 2023, Austria was impacted by heavy rainfall which led to floods in southern Austrian regions resulting in total direct damages estimated by the Austrian authorities at EUR 208 million;
D. whereas between 4 and 11 September 2023, Greece was impacted by the Mediterranean storm “Daniel” which caused heavy rainfall and led to floods in multiple locations in central Greece, particularly in the Thessaly region, resulting in total direct damages estimated by the Greek authorities at EUR 2,3 billion;
E. whereas between 25 October and 10 November 2023, the Tuscany region of Italy experienced intense rainfall which led to flash floods resulting in total direct damages estimated by the Italian authorities at EUR 2,7 billion;
F. whereas between 2 and 9 November 2023, the former Nord-Pas-de-Calais region of the Hauts-de-France region of France was impacted by heavy rainfall which caused floods resulting in total direct damages estimated by the French authorities at EUR 1,9 billion;
1. Expresses its deepest solidarity with all the victims, their families and all the individuals affected by the destructive floods in Italy, Slovenia, Austria, Greece and France as well as with the national, regional and local authorities involved in the relief efforts;
2. Welcomes the decision as a tangible and visible form of the Union’s solidarity with its citizens and the regions in the affected areas in Italy, Slovenia, Austria, Greece and France;
3. Reiterates the importance of communicating to the public the tangible benefits brought about by the European Union Solidarity Fund (EUSF), also to further increase citizens’ awareness of Union tools and programmes;
4. Highlights the increasing number of severe and destructive natural disasters in Europe and calls on Member States and the Commission to invest in climate mitigation and adaptation measures to avoid human and economic losses; considers that the budget of the EUSF or its equivalent should be expanded in view of the upcoming Commission proposal on the new Multiannual Financial Framework and subsequent inter-institutional negotiations; urges the Commission to increase the budget of the European Solidarity Reserve and to make sure that the overall amount of funding and the allocation modalities ensure the optimal effectiveness of the EUSF;
5. Stresses that, due to climate change, islands and coastal regions are particularly vulnerable to natural calamities; acknowledges that phenomena such as earthquakes, floods, volcanic eruptions, and droughts – which also affect lakes and rivers – represent an increasing threat to many European regions, particularly those in the Mediterranean; questions whether the EUSF is adequately aligned with the emergency needs related to climate adaptation in these particularly fragile territories; therefore, believes that islands and coastal regions should receive adequate funding within the framework of the EUSF to address their specific vulnerabilities;
6. Stresses that the EUSF is only a curative instrument and that the Union should also continue to address climate change adaptation and mitigation by supporting European and national policies to prevent natural disasters; underlines that the EEA Report No 1/2024 ‘European Climate Risk Assessment’ warned that the bloc is unprepared for the effects of climate change and stresses the need for action to avoid that the climate risks identified reach critical levels; calls on the Member States and the Commission to deliver their contribution to achieve the objectives agreed at the Paris Climate Summit; recalls the need for effective synergies with other Union policies and programmes and underlines that Member States should make best use of funding opportunities, in particular of the European Regional Development Fund, the European Social Fund +, the European Maritime, Fisheries and Aquaculture Fund, the Cohesion Fund and the rural development programmes; stresses also the need for preventive measures, not only to mitigate future damage but also to prevent the exacerbation of risk conditions following catastrophic events, such as wildfires, landslides or the drying up of lakes and rivers; underlines the importance of adequate flexibility between the different programmes; underscores that assistance provided under the EUSF should not be to the detriment of Union funding received by Member States under other Union programmes or policies; recalls that Member States can grant state aid, in accordance with applicable Union rules, notably for agricultural businesses that have suffered damages due to natural disasters;
7. Recalls the importance of rapid and solid damage assessment that takes due account of the economic repercussions and calls for increased operational efforts to be made in order to reduce the average time for the release of advanced payments, while ensuring the Union budget is protected; calls on the Commission to further streamline the procedure and shorten the time required for the processing of the applications for the mobilisation of the EUSF, to accelerate response times and ensure that funds reach the affected regions promptly as natural disasters inflict significant damage that disrupts daily life and local economies; stresses the need for reasonable flexibility when recipient countries face justifiable delays and challenges in applying for and utilizing allocated funding; calls on Member States to take into consideration that vulnerable populations are particularly affected by natural disasters due to socio-economic factors further hampering their ability to recover;
8. Stresses the urgent need to release immediate financial assistance through the EUSF to ensure that support can reach the affected regions in a timely manner;
9. Approves the decision annexed to this resolution;
10. Instructs its President to sign the decision with the President of the Council and arrange for its publication in the Official Journal of the European Union;
11. Instructs its President to forward this resolution, including its annex, to the Council and the Commission.
Question for written answer E-001932/2024 to the Commission Rule 144 Jadwiga Wiśniewska (ECR)
In response to the catastrophic flooding in Central Europe, Commission President Ursula von der Leyen announced that countries hit by the disaster would receive EUR 10 billion from the EU Cohesion Fund.
Regulation 2021/1058 specifies that the Cohesion Fund is intended to level the playing field in the common market for the less prosperous Member States. In the 2021-2027 programming period, its beneficiaries are countries whose gross national income per capita is below 90% of the EU average.
Austria, which in principle is not a beneficiary under the current programming framework, is one of the Central European countries impacted by the flooding that will receive financial aid from the Cohesion Fund.
In view of the above, could the Commission answer the following questions:
1.Has allocating cohesion funding to Austria reduced the amounts which the less wealthy countries are entitled to receive from the Cohesion Fund?
2.What will be the mechanism and the scale of the reallocation of funding under the Cohesion Fund in the 2021-2027 programming period?
3.Is the Commission aware that allocating cohesion funding to Austria will mean that changes will need to be made to investments being carried out and planned by eligible Member States?
Sebastião Bugalho, Isabel Wiseler‑Lima, Michael Gahler, Luděk Niedermayer, Ana Miguel Pedro, Mirosława Nykiel, Marta Wcisło, Vangelis Meimarakis, Danuše Nerudová, Tomáš Zdechovský, Nicolás Pascual De La Parte, Jörgen Warborn, Željana Zovko, Miriam Lexmann, Inese Vaidere on behalf of the PPE Group Yannis Maniatis, Francisco Assis, Nacho Sánchez Amor, Nikos Papandreou on behalf of the S&D Group Rihards Kols, Ondřej Krutílek, Ivaylo Valchev, Assita Kanko, Emmanouil Fragkos, Sebastian Tynkkynen, Waldemar Tomaszewski, Veronika Vrecionová on behalf of the ECR Group Lucia Yar, Petras Auštrevičius, Helmut Brandstätter, Benoit Cassart, Olivier Chastel, Engin Eroglu, Svenja Hahn, Karin Karlsbro, Moritz Körner, Nathalie Loiseau, Jan‑Christoph Oetjen, Hilde Vautmans on behalf of the Renew Group Vladimir Prebilič on behalf of the Verts/ALE Group Isabel Serra Sánchez on behalf of The Left Group
European Parliament resolution on the case of Bülent Mumay in Türkiye
–having regard to its previous reports and resolutions on Türkiye,
–having regard to the 2024 World Press Freedom Index, which ranks Türkiye 158th out of 180 countries,
–having regard to Rules 150(5) and 136(4) of its Rules of Procedure,
A.whereas, on 6 May 2023, Bülent Mumay, a Turkish journalist and coordinator of the Istanbul bureau of Deutsche Welle’s Turkish editorial office, was sentenced to 20 months in prison for social media posts about a pro-government company’s seizure of Istanbul Municipality’s subway funds during the AKP administration; whereas his appeal was rejected, and his tweets removed;
B.whereas, on 20 August 2024, Istanbul’s 26th Regional Court, acting as an appeals court, upheld the sentence and ordered the Information and Communication Technologies Authority to block access to news reports about the upheld prison sentence;
C.whereas the verdict, coupled with repeated censorship, demonstrates the escalating pressure on press freedom in Türkiye, with Bülent Mumay’s case not being an isolated incident but part of a broader pattern of judicial harassment and censorship targeting Türkiye’s independent media;
D.whereas Türkiye, as a member of the Council of Europe and EU candidate country, is required to apply the highest democratic standards and practices, including respect for human rights, the rule of law, fundamental freedoms (such as press freedom and freedom of expression), the universal right to a fair trial and strict respect for the principle of presumption of innocence and the right to due process;
1.Condemns the sentence against Bülent Mumay, which follows a broader pattern of silencing critical journalism; calls on the Turkish authorities to drop the charges against Bülent Mumay, and all arbitrarily detained media workers and journalists;
2.Is deeply concerned about the ongoing deterioration of democratic standards in Türkiye, relentless crackdown on any critical voices and targeting of independent journalists, activists and opposition members amid frequent reports of legal intimidation, censorship and financial coercion as ways to suppress criticism and investigative journalism;
3.Deplores the fact that, the Turkish Government, through a number of laws, including the 2020 social media law, the 2021 anti-money laundering law, and the 2022 disinformation law, has built a complex web of legislation serving as a tool to systematically control and silence journalists; is highly concerned about the new ‘foreign agent regulation’ to be introduced by the end of 2024;
4.Continues to condemn the lack of independence of the prosecution and judiciary and the political instrumentalisation of the judicial system in Türkiye and calls on the Turkish authorities to restore judicial independence, respect press freedom and ensure compliance with international human rights obligations;
5.Calls on the EEAS to adequately support the EU Delegation to Türkiye in intensifying trial observation of detained journalists and media workers and raising their cases with the Turkish authorities at all levels, while maintaining close relations with civil society;
6.Instructs its President to forward this resolution to the Council, the Commission, the EEAS, and the President, Government and Parliament of Türkiye and have it translated into Turkish.
Source: United States House of Representatives – Congresswoman María Elvira Salazar’s (FL-27)
WASHINGTON, D.C. – Today, Western Hemisphere Subcommittee Chairwoman María Elvira Salazar (R-FL) was joined by Republican members of Congress to urge the International Monetary Fund (IMF) to open new negotiations with the Republic of Argentina to create a robust financial package in order to support Argentina on their economic path to recovery. Joining Congresswoman Salazar on the letter were Representatives Chris Smith (R-NJ), Carlos Giménez (R-FL), Bill Huizenga (R-MI), Mario Diaz-Balart (R-FL), Mike Lawler (R-NY), Mike Waltz (R-FL), Joe Wilson (R-SC), Tom Kean, Jr. (R-NJ), and Keith Self (R-TX).
In their letter to Dr. Kristalina Georgieva, Managing Director of the IMF, the Representatives commended President Milei’s efforts to restore reliability as an economic borrower and end Argentina’s historical financial mismanagement under previous socialist administrations. The Members highlighted Milei’s background as an economist, his already-enacted measures to curtail inflation, and his Déficit Cero budget austerity plan as positive steps taken to accomplish those outcomes.
“The United States is the largest shareholder of the International Monetary Fund and therefore takes a keen interest in its activities. In Argentina, President Milei has vowed to restore his country’s reputation as a country that pays its debts and belongs in the club of countries that are reliable borrowers,” wrote the legislators. “According to reports, the economic adjustment plans he has implemented through the executive branch and the legislature are already curtailing inflation, hopefully setting Argentina on a path that ensures it will not miss any international financial obligations. As such, we ask that you consider these positive measures as you assist Argentina in charting the course ahead.”
Below is the text of the letter. The full letter can be found HERE.
Dear Managing Director Georgieva,
As members of Congress of the United States who oversee foreign affairs issues, we write to you concerning the Republic of Argentina’s stated commitment to putting its fiscal house in order and righting the ship of state. The United States is the largest shareholder of the International Monetary Fund and therefore takes a keen interest in its activities. In Argentina, President Milei has vowed to restore his country’s reputation as a country that pays its debts and belongs in the club of countries that are reliable borrowers. According to reports, the economic adjustment plans he has implemented through the executive branch and the legislature are already curtailing inflation, hopefully setting Argentina on a path that ensures it will not miss any international financial obligations. As such, we ask that you consider these positive measures as you assist Argentina in charting the course ahead.
We are encouraged that President Milei appears to be working toward meeting Argentina’s international obligations.
As an economist, President Milei knows what the necessary measures are to tame inflation and ensure Argentina meets its commitments to the International Monetary Fund and other international creditors. In fact, should his Déficit Cero budget austerity plan be implemented in its entirety, the result would go beyond what the IMF has requested, cutting spending across the board and responsibly tackling Argentina’s economic challenges.
We believe that the IMF was generous with past profligate socialist governments.
Since the Presidency of socialist Néstor Kirchner, the IMF has treated Argentina with incredible generosity, despite refusals of consecutive socialist governments to cut spending. The few times these governments did pay, it was because they printed more of the Argentine peso (ARS), a strategy which many economists believe caused a painful inflation crisis which wrecked Argentina’s economy. Nonetheless, these profligate governments received deals for $21.6 billion in 2001, $15.6 billion in 2003 and most recently $44 billion in 2022. Despite the IMF’s generosity, the Kirchner government was in default from 2007-2015. We are encouraged by President Milei’s stated commitment to leaving this shameful and damaging legacy where it belongs – in the past.
President Milei’s government appears to be reinstituting fiscal responsibility after decades of mismanagement, but needs support.
The current $800 million disbursement provided earlier this year is helpful. To repair the years of corruption and mismanagement, we believe that Argentina will need robust multilateral bank support, such as through a comprehensive IMF program, that would support Argentina’s difficult path toward economic health. Within all applicable rules and regulations, we respectfully request that you assess whether such support would both complement and reward the tough decisions that President Milei has made toward promoting Argentina’s long-term solvency and prosperity.
We appreciate President Milei’s efforts to pay down Argentina’s debt and bring prosperity to his country. We think that these efforts could be bolstered by time and help from multilateral financial institutions such as the IMF.
One concerning trend is the misuse of voice cloning. In seconds, scammers can clone a voice and trick people into thinking a friend or a family member urgently needs money.
News outlets, including CNN, warn these types of scams have the potential to impact millions of people.
As technology makes it easier for criminals to invade our personal spaces, staying cautious about its use is more important than ever.
What is voice cloning?
The rise of AI has created possibilities for image, text, voice generation and machine learning.
While AI offers many benefits, it also provides fraudsters new methods to exploit individuals for money.
You may have heard of “deepfakes,” where AI is used to create fake images, videos and even audio, often involving celebrities or politicians.
Voice cloning, a type of deepfake technology, creates a digital replica of a person’s voice by capturing their speech patterns, accent and breathing from brief audio samples.
Once the speech pattern is captured, an AI voice generator can convert text input into highly realistic speech resembling the targeted person’s voice.
While a simple phrase like “hello, is anyone there?” can lead to a voice cloning scam, a longer conversation helps scammers capture more vocal details. It is therefore best to keep calls brief until you are sure of the caller’s identity.
Voice cloning has valuable applications in entertainment and health care – enabling remote voice work for artists (even posthumously) and assisting people with speech disabilities.
However, it raises serious privacy and security concerns, underscoring the need for safeguards.
How it’s being exploited by criminals
Cybercriminals exploit voice cloning technology to impersonate celebrities, authorities or ordinary people for fraud.
They create urgency, gain the victim’s trust and request money via gift cards, wire transfers or cryptocurrency.
The process begins by collecting audio samples from sources like YouTube and TikTok.
Next, the technology analyses the audio to generate new recordings.
Once the voice is cloned, it can be used in deceptive communications, often accompanied by spoofing Caller ID to appear trustworthy.
Many voice cloning scam cases have made headlines.
For example, criminals cloned the voice of a company director in the United Arab Emirates to orchestrate a $A51 million heist.
A businessman in Mumbai fell victim to a voice cloning scam involving a fake call from the Indian Embassy in Dubai.
In Australia recently, scammers employed a voice clone of Queensland Premier Steven Miles to attempt to trick people to invest in Bitcoin.
Teenagers and children are also targeted. In a kidnapping scam in the United States, a teenager’s voice was cloned and her parents manipulated into complying with demands.
It only takes a few seconds of audio for AI to clone someone’s voice.
How widespread is it?
Recent research shows 28% of adults in the United Kingdom faced voice cloning scams last year, with 46% unaware of the existence of this type of scam.
It highlights a significant knowledge gap, leaving millions at risk of fraud.
In 2022, almost 240,000 Australians reported being victims of voice cloning scams, leading to a financial loss of $A568 million.
How people and organisations can safeguard against it
Public-private collaboration can provide clear information and consent options for voice cloning.
Second, people and organisations should look to use biometric security with liveness detection, which is new technology that can recognise and verify a live voice as opposed to a fake. And organisations using voice recognition should consider adopting multi-factor authentication.
Third, enhancing investigative capability against voice cloning is another crucial measure for law enforcement.
There are also calls for possible intervention strategies that law enforcement could use to combat this problem.
Such efforts should connect with the overall National Plan to Combat Cybercrime, which focuses on proactive, reactive and restorative strategies.
That national plan stipulates a duty of care for service providers, reflected in the Australian government’s new legislation to safeguard the public and small businesses.
The legislation aims for new obligations to prevent, detect, report and disrupt scams.
This will apply to regulated organisations such as telcos, banks and digital platform providers. The goal is to protect customers by preventing, detecting, reporting, and disrupting cyber scams involving deception.
Reducing the risk
As cybercrime costs the Australian economy an estimated A$42 billion, public awareness and strong safeguards are essential.
Countries like Australia are recognising the growing risk. The effectiveness of measures against voice cloning and other frauds depends on their adaptability, cost, feasibility and regulatory compliance.
All stakeholders — government, citizens, and law enforcement — must stay vigilant and raise public awareness to reduce the risk of victimisation.
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Queensland has joined Tasmania as the second Australian state or territory to offer a A$500 rebate for buyers of new e‑bikes. The pre-election announcement includes a smaller $200 rebate for e‑scooters.
The Queensland e‑mobility rebate scheme is first come, first served, until its $2 million budget ($1 million was added last week) is used up. The Tasmanian scheme has closed for this reason.
These schemes follow a trend of government incentives to buy e‑bikes in North America and Europe. The Australian schemes differ from most schemes overseas by including e‑scooters too.
It’s a welcome move to promote sustainable transport. These personal transport devices have smaller environmental footprints to produce and operate than electric cars. Owning e‑bikes or e‑scooters can enable people to drive less – reducing congestion and emissions – and avoid high fuel costs.
However, my research and other studies suggest ownership doesn’t guarantee much greater use. Additional measures will be needed to boost use of these sustainable transport modes.
Why own e-bikes or e-scooters when you can share?
The rebate is likely to boost retailers’ sales. More than 860 rebate applications were received within three days of the scheme starting on September 23.
And existing owners now have an incentive to upgrade or replace models. They might then sell their pre-loved e‑bikes or e‑scooters on the second-hand market. This means others could get them more cheaply.
Queensland was the first Australian state to legalise the use of e‑scooters in 2018, when Brisbane introduced shared e‑scooter operations. Regional cities such as Townsville and Cairns launched similar schemes. Dockless e‑bikes later replaced Brisbane’s initial CityCycle bike-sharing scheme.
I recently conducted research to understand why South-East Queensland residents want to own e‑scooters. The study methods were comparable to an earlier e‑bike user survey.
Both sets of owners cite replacing car use as their top reason for ownership. However, their motivations differ.
E‑scooter owners are mainly driven by the lower price and the fun factor of riding. E‑bike owners focus more on fitness and the health benefits of getting some exercise when riding. Australian regulations require e‑bikes to be pedal-assisted.
But does this mean people will ride more?
Since 2022, the Queensland government has offered a rebate of up to $6,000 for buying full-sized electric vehicles (that scheme closed last month). It now appears to have responded to calls to do the same for e‑bikes and e‑scooters.
Buyers certainly won’t mind freebies and rebates, but rebate-induced ownership might not increase overall use by much.
An Australia-wide survey in 2023 found 57% of respondents had access to at least one working bicycle at home and this proportion has been increasing. However, only 15% reported riding in the previous week. Only 36.7% had ridden in the past year.
The same 2023 survey revealed only about 2.1% own e‑bikes. The rebate will likely increase this rate in Queensland.
Some preliminary evidence suggests e‑bike users ride more often and further than those riding non-electric bikes. It also helps older people get into cycling. And it has the potential to replace car use even in rural areas.
Despite e‑bikes offering advantages over traditional bikes, riders of both face obstacles to greater use, such as road safety and poor cycling infrastructure.
What kinds of incentives do other countries offer?
Australian policymakers should consider offering incentives to ensure the new purchases are well used, not sitting idle most of the time.
The United Kingdom has a long-standing cycle-to-work scheme that offers commuters a tax exemption for buying bicycles or e‑bikes.
In the Netherlands, incentive schemes have used smartphone technology to track their mileage. For example, in the B-Riders scheme, riders earn €0.08–0.15 (A$0.13–0.21) per kilometre. There was a 68% increase in e‑bike use by former car commuters after one month and 73% increase after six months of participation.
Schemes in North America tend to be aimed at lower-income households. They are more likely to be involuntarily carless, so e‑bikes can improve their access to jobs, goods and services.
There are alternatives to rebates. North Vancouver, for example, is trialling e‑cargo bike lending to replace car shopping trips, as these bulky bikes are not practical for every household to own.
In France, residents can claim a bike or e‑bike subsidy of up to €2,000 (A$3,210). Second-hand devices sold by approved repairers are covered too, which is likely to help reduce e‑waste. Australian schemes so far only cover new purchases.
What more can be done?
For e‑bike and e‑scooter owners, the main barrier to riding more is the lack of safe and well-connected infrastructure. Numerous studies have connected rates of riding to the quality and quantity of infrastructure. Extensive, high-quality and safe cycling networks can deliver lasting shifts towards sustainable transport.
In Brisbane, despite not being anywhere close to the European level of cycling infrastructure, new “green bridges” and bikeways will be expanded to more areas of the city (and other Queensland venues). It’s part of preparations to host “climate-positive” Olympic and Paralympic Games in 2032. This year’s games host, Paris, successfully upgraded infrastructure and boosted cycling rates.
Another benefit of more riders on the streets is that it creates “safety in numbers”. Greater numbers would also help attract more funding for infrastructure that makes cycling and scooting safer and more attractive.
Both e‑bikes and e‑scooters are already worthwhile investments. Using them often would free yourself from car dependence – and that’s good for the planet and your wallet.
Abraham Leung received funding from the Transport Academic Partnership (Queensland Department of Transport and Main Roads (TMR) and the Motor Accident Insurance Commission) and the Transport Innovation and Research Hub (Brisbane City Council, BCC). The data from the Privately Owned Electric Mobility User Survey (POEMUS) used in this article is funded and commissioned by BCC.
His current Advance Queensland Industry Research Fellowship is funded and/or partnered with TMR, BCC, Townsville City Council, and micromobility operators Neuron and Beam. He is also an active member of PedBikeTrans.
Flood mitigation measures are being put in place to reduce the likelihood, frequency, and severity of flooding to residents and businesses located on the south branch of the Raisin River in Cornwall, after an investment of $783,360 from the federal government.
Cornwall, Ontario October 9, 2024 — Flood mitigation measures are being put in place to reduce the likelihood, frequency, and severity of flooding to residents and businesses located on the south branch of the Raisin River in Cornwall, after an investment of $783,360 from the federal government.
A new culvert will significantly decrease the likelihood of flooding from the south branch of the river. This will reduce sewer overflows and the risk of wastewater moving into storm water systems. Once upgraded, the culvert will have an increased life span and reduced maintenance requirements.
This project aligns with the 2022 City of Cornwall Climate Change Action Plan.
Making adaptation investments now not only keeps Canadians safe but also has major economy-wide benefits later. Every dollar that is invested in adapting and preparing for climate-related disasters can return as much as $13 to $15 in benefits.
Quotes
“As we deal with the growing impacts of climate change, we need to work with communities to keep them safe from potential natural disasters. A new culvert for the south branch of the Raisin River will do just that for the residents and business of Cornwall.”
The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
“We appreciate the support of the federal government in the replacement of our culvert located on McConnell Avenue. This project not only enhances the safety and resilience of our community but also underscores a shared commitment to proactive disaster preparedness and sustainable development.”
Justin Towndale, Mayor of Cornwall
Quick facts
The federal government is investing $783,360 in this project through the Disaster Mitigation and Adaptation Fund (DMAF).
The DMAF program supports projects that include new construction of public infrastructure or the modification or reinforcement of existing public infrastructure that helps communities withstand natural disasters and climate-related risks.
Eligible recipients include municipalities, local governments, provinces and territories, public sector bodies, Indigenous organizations, not-for-profit, and for-profit organizations in partnership with other eligible applicants outside the private sector. Projects must have a minimum of $1 million in total eligible costs to be considered eligible.
Since 2018, the federal government has committed over $3 billion to the Disaster Mitigation and Adaptation Fund. Part of this commitment is $489.1 million in funding from the Adaptation Action Plan, which was released in November 2022 alongside Canada’s National Adaptation Strategy: Building Resilient Communities and a Strong Economy. Overall, the National Adaptation Strategy commits $1.6 billion in new federal funding to help address both immediate and future climate risks to Canadian communities.
Associated links
Contacts
For more information (media only), please contact:
Sofia Ouslis Communications Advisor Office of the Minister of Housing, Infrastructure and Communities Sofia.ouslis@infc.gc.ca
A federal court yesterday enjoined a California company from manufacturing and distributing adulterated food products following a listeria outbreak linked to multiple hospitalizations and two deaths.
In a civil complaint filed on Sept. 27 in the U.S. District Court for the Eastern District of California, the United States alleged that Rizo Lopez Foods Inc., along with its president, chief executive officer and co-owner, Edwin Rizo, and its chief financial officer, secretary and co-owner Tomas Rizo, violated the Federal Food, Drug and Cosmetic Act (FDCA) at the company’s facility in Modesto, California, by manufacturing and distributing adulterated food products. Rizo Lopez Foods produced cotija cheese and other cheeses, yogurt, sour cream and other foods sold under the brand names Tio Francisco, Don Francisco, Rizo Bros, Rio Grande, Food City, El Huache, La Ordena, San Carlos, Campesino, Santa Maria, Dos Ranchitos, Casa Cardenas and 365 Whole Foods Market.
The complaint further alleged that, in January, Hawaiian state health officials detected Listeria monocytogenes (L. mono), the bacterial pathogen that can cause listeriosis, in cheese made by the defendants. The government further alleged that during a subsequent inspection of the defendant’s facility, the Food and Drug Administration (FDA) found L. mono in two locations as well as various insanitary conditions. The complaint alleged that a genetic analysis matched the L. mono strain collected in Hawaii to the strain from defendants’ facility, as well as to L. mono samples from patients sickened as early as 2014 during a years-long listeriosis outbreak. An investigation by the Centers for Disease Control identified 26 cases of listeriosis in 11 states linked to the same L. mono strain. The CDC reported that 23 individuals were hospitalized as a result of the outbreak, including two patients who died. In February, Rizo Lopez recalled all cheese and dairy products produced at their facility.
“Food manufacturers have an important responsibility to ensure the safety of their products,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “The Justice Department and FDA will continue to work closely on enforcement actions against food manufacturers who fail to meet their obligations and put the health of their customers at risk.”
“Food producers in the Eastern District of California feed the nation,” said U.S. Attorney Phillip A. Talbert for the Eastern District of California. “Our office is committed to assuring compliance with the FDCA throughout the District.”
The defendants agreed to settle the suit and be bound by a consent decree of permanent injunction. The injunction entered by the court permanently enjoins the defendants from violating the FDCA. As part of the settlement, the defendants represented that they have discontinued all operations related to preparing and processing food. Under the permanent injunction, the defendants must notify FDA in advance of resuming such operations, comply with specific remedial measures set forth in the injunction and allow FDA to inspect their facility, including the buildings, sanitation-related systems, equipment, utensils, all articles of food and relevant records.
Trial Attorney David G. Crockett Jr. and Senior Trial Attorney James Nelson of the Justice Department’s Civil Division prosecuted this case, with assistance from Assistant Chief Counsel for Enforcement Lauren Fash of the FDA’s Office of Chief Counsel.
(COLUMBIA, S.C.)– South Carolina Attorney General Alan Wilson announces that he has co-led a coalition of 20 state attorneys general and groups that represent hundreds of not-for-profit aging services providers across the country in filing a lawsuit to overturn a new nursing home staffing mandate that’s impossible to implement. The staffing mandate is being implemented by the Centers for Medicaid and Medicare Services (CMS).
Filed in the United States District Court’s Northern District of Iowa, the complaint intends to overturn the mandate itself and vacate certain of the more onerous requirements in the rule.
“This new staffing rule is impossible to implement based on the nursing shortage and will force the closure of nursing homes and raise costs at those that remain, devastating families financially and leaving people without the care they need,” Attorney General Wilson said.
In April, CMS released the Nursing Home Minimum Staffing Standards final rule to the Federal Register. The rule requires all federally funded nursing homes to produce a revised facility assessment and changes the minimum number of hours per resident day (HPRD). All providers must provide 3.48 hours of direct nursing care per patient, per day and staff a registered nurse 24 hours a day. These specific breakdowns also require 0.55 RN and 2.45 certified nurse aide (CNA) coverage per patient, per day.
These newly prescribed HPRDs mean nursing homes across the U.S. will need an additional 27,000 full-time registered nurses (RNs) and 78,000 full-time nurse aides costing over $7 billion—an impossible requirement to meet amid a worldwide nursing shortage and dismal Medicaid reimbursement rates that do not fully cover the actual cost of care. Sadly, the HPRD limits the utilization of licensed practical nurses (LPNs) who provide most of the direct patient care in nursing homes, potentially displacing thousands of these workers across the U.S.
LeadingAge South Carolina’s CEO, Kassie South, commented, “We are thankful for Attorney General, Alan Wilson, for fighting for the elders, healthcare system, and taxpayers in South Carolina and nationwide that will be gravely impacted by this unfunded and unlawful mandate.”
SAN DIEGO, Oct. 09, 2024 (GLOBE NEWSWIRE) — LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), the parent corporation of LPL Financial LLC, announced today it will report third quarter financial results after the market closes on Wednesday, October 30. The Company will host a conference call to discuss its results at 5 p.m. ET the same day.
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.
Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
SAN DIEGO, Oct. 09, 2024 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the third quarter 2024 on Wednesday, November 6, 2024, after the market closes. The Company will also host a conference call and slide presentation the same day at 2:00 p.m. Pacific / 5:00 p.m. Eastern time with Ashish Masih, President and Chief Executive Officer, Jonathan Clark, Executive Vice President and Chief Financial Officer, and Bruce Thomas, Vice President, Global Investor Relations, presenting and discussing the reported results.
Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore’s website at http://www.encorecapital.com. To access the live conference call by telephone, please pre-register using this link. Registrants will receive confirmation with dial-in details.
For those who cannot listen to the live broadcast, a replay of the webcast will be available on the Company’s website shortly after the call concludes.
About Encore Capital Group, Inc.
Encore Capital Group is an international specialty finance company that provides debt recovery solutions and other related services for consumers across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases portfolios of consumer receivables from major banks, credit unions, and utility providers.
Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at http://www.encorecapital.com.
NEW YORK, NY, Oct. 09, 2024 (GLOBE NEWSWIRE) — Launch Two Acquisition Corp. (the “Company”) announced today the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000.
The Company’s units began trading on October 8, 2024 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “LPBBU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “LPBB” and “LPBBW,” respectively.
Of the proceeds received from the consummation of the initial public offering (including the exercise of the over-allotment option) and a simultaneous private placement of warrants, $231,150,000 (or $10.05 per unit sold in the offering) was placed in trust.
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be on technology and software infrastructure companies whose products and services target financial services, real estate and asset management companies. The Company will pursue completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.
The Company’s management team is led by James J. McEntee III, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), and Jurgen van de Vyver, its Chief Financial Officer. The Board also includes Lynn Eisenhart, Jeffrey M. Shanahan, and Alfred J. Pierce III.
Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 7, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, http://www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Launch Two Acquisition Corp. Jurgen van de Vyver jurgen@launchpad.vc (510) 692-9600
LIVERMORE, Calif., Oct. 09, 2024 (GLOBE NEWSWIRE) — FormFactor, Inc. (Nasdaq: FORM) will report financial results for its 2024 fiscal third quarter on Wednesday, October 30th, 2024, at 1:25 p.m. Pacific Time. The public is invited to listen to a live webcast of FormFactor’s conference call on the Investors section of the company’s web site at www.formfactor.com.
To Listen via Telephone: Preregistration is required. Please preregister by clicking here.
Upon registering, you will be emailed a dial-in number, direct passcode and unique PIN.
A replay of the conference call will be available approximately two hours after the conclusion of the call. The replay will be available on the Investors section of our website http://www.formfactor.com.
About FormFactor: FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full IC life cycle – from characterization, modeling, reliability, and design de-bug to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at http://www.formfactor.com.
Investor Contact Stan Finkelstein Investor Relations (925) 290-4273 ir@formfactor.com
NEW YORK, Oct. 09, 2024 (GLOBE NEWSWIRE) — In a release issued under the same headline earlier today by Willis Towers Watson US LLC (Nasdaq: WTW), please note that the inaccurate ‘Key Price Predictions for 2024’ table has been removed. The corrected release is as follows:
According to the latest Insurance Marketplace Realities report from WTW (Willis Towers Watson, NASDAQ: WTW), a leading global advisory, broking and solutions company, commercial insurance rates have demonstrated balance and stability throughout the year across North America. Jon Drummond, Head of Broking, North America, WTW, commented, “The industry has not categorically rewritten its position on any one line of business, but rather has taken micro-actions reacting to emerging trends.”
WTW reports that new capital in both the reinsurance and retail marketplace has led to increased competition for premium market share, excluding umbrella and excess liability. This trend has played out across the industry, which is particularly meaningful in 1st party business where capacity was a challenge at the outset of 2024.
Capacity remains a driving force in delivering soft market conditions for financial lines. While WTW advises that it may be premature to call it a trend, there appears to be mounting focus on rate adequacy in mid-excess Directors & Officers Liability. In addition, the Cyber market projects flat to mid-single digit rate decreases across most renewals in the near term.
In casualty, Umbrella & Excess liability has seen the most amount of disruption. Loss costs continue to rise due to factors including legal system abuse, litigation financing, and the growth of concerns such as forever chemicals, to which the insurance market has responded by reducing lines of capacity available to insureds and pushing renewal rates past high single digit.
WTW’s Marketplace Realities report concludes that while the industry is facing evolutionary change across many lines of business – e.g. climate change, nuclear verdicts, new capital entrants, etc. – the market should deliver relatively stable renewal conditions across most lines of business as the year comes to a close.
Drummond added, “It goes without saying that the current state of affairs might only be one major hurricane away from being upended, and with Milton knocking on the door, the probability of disruption is growing.”
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
Additional PLN 10 billion for local government units for 202409/10/2024
In August this year, El minister of finance Andrzej Domański declared that local government units would receive additional financial support in the amount of PLN 10 billion. On October 8 this year, the local government side was provided with information on the distribution of additional funds. Local government units will receive additional funds in the coming weeks. Distribution of additional funds for local government units for 2024 In 2024, local government units will receive additional revenues, in the total amount of PLN 10,000,000 thousand. PLN, in order to support the implementation of tasks. Additional revenues, in the amount of PLN 8,216,794,889, are received by local government units from their share in revenues from personal income tax. The amount specified in point 2 will be distributed between: 1) municipalities, 2) poviats, 3) voivodeships – in proportion to the share of the amount of revenue for 2024 from the share in revenues from the PIT tax of municipalities, poviats and voivodeships in the total amount of revenues of all local government units from this title in 2024 (determined taking into account the amounts resulting from the PIT correction for 2022). The amount referred to in point 3, due to the municipalities, is distributed between the municipalities in proportion to the share of the amount of revenue of a given municipality from the share in revenues from the PIT tax in the total amount of revenues of all municipalities from this title in 2024 (determined taking into account the amounts resulting from the PIT correction for 2022). The division principle will be applied accordingly to the division of amounts due to counties and voivodeships. If the amount calculated in the manner referred to in point 4 is lower than:1) PLN 1,000,000, if the number of residents of the commune does not exceed 5,000,2) PLN 1,500,000, if the number of residents of the commune exceeds 5,000 but does not exceed 10,000,3) PLN 2,000,000 if the number of residents of the commune exceeds 10,000,4) PLN 3,000,000 if the number of residents of the county does not exceed 75,000,5) PLN 4,000,000 if the number of residents of the county exceeds 75,000,6) PLN 6,000,000 if the number of residents of the voivodeship does not exceed 1,250,000,7) PLN 8,000,000 if the number of residents voivodeships exceeds PLN 1,250,000 – the local government unit will receive funds from supplementing the general subsidy in order to provide additional revenues in an amount not lower than those specified in items 1 – 7. The amount of the subsidy supplement will be subject to an appropriate reduction if the sum of the income of the local government unit referred to in items 4 and 5 is higher than the income of this unit in 2024 from the share in revenues from the PIT tax (determined taking into account the amounts resulting from the PIT correction for 2022). Cities with county rights are entitled to additional revenues referred to in item 1, calculated as for communes and counties, from each of the parts determined for communes and counties, respectively. In 2024, the general subsidy will be increased by PLN 1,783,205,111 in order to secure the necessary funds for local government units.
MaterialDivision of additional funds for local government units for 2024Division of_additional_funds_for_local_government_units_2024_r.xlsx 0.19MB
An indictment was unsealed today in Brooklyn, New York, charging eight defendants for their alleged roles in a scheme to defraud Medicaid of approximately $68 million through the operation of two social adult day cares and a home health care financial intermediary that were paying kickbacks and bribes for services that were not provided.
According to court documents, Zakia Khan, 53, of Brooklyn, and Ahsan Ijaz, 27, of Brooklyn, owned two social adult day cares, Happy Family Social Adult Day Care Center Inc. (Happy Family) and Family Social Adult Day Care Center Inc. (Family Social), and a financial intermediary, Responsible Care Staffing Inc. (Responsible Care), for the New York Medicaid Consumer Directed Personal Assistance Services Program (CDPAP), which permits family members of Medicaid recipients to receive payment for assisting Medicaid recipients with activities of daily living. Beginning in approximately October 2017, in exchange for kickbacks and bribes, marketers Elaine Antao, 45, also known as Aleena, of Brooklyn, Omneah Hamdi, 61, of Brooklyn, and Manal Wasef, 44, of Brooklyn, allegedly referred Medicaid recipients to Happy Family, Family Social, and/or Responsible Care. The marketers in turn allegedly paid kickbacks and bribes to Medicaid recipients for social adult day care and CDPAP services that Happy Family, Family Social, and Responsible Care billed to Medicaid but were not provided or were induced by kickbacks and bribes. Ansir Abassi, 38, also known as Zaib Abassi and Ansir Zaib, of Brooklyn, and Amran Hashmi, 53, of Brooklyn, allegedly managed Happy Family and Family Social and the marketers. To carry out the kickback scheme, Khan, Antao, Ijaz, Abassi, and Hamdi allegedly used business entities to launder the fraud proceeds and generate the cash used to pay kickbacks and bribes. Seema Memon, 30, of Brooklyn, an employee of Happy Family who was previously charged by complaint on July 1, was also indicted.
“As alleged in the indictment, these defendants orchestrated a years-long scheme to defraud Medicaid of tens of millions of dollars for social adult day care and home care services for seniors that they did not provide,” said Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “The defendants allegedly paid cash bribes and kickbacks to recruiters and Medicaid recipients as part of a scheme to enrich themselves at the expense of vital programs for senior citizens. Today’s charges make clear that the Criminal Division will not tolerate schemes that brazenly steal from federal health care programs.”
“Social adult day care and home health services are meant to help seniors, but as alleged, the defendants allegedly turned their businesses into a brazen cash grab of millions of dollars from the Medicaid program,” said U.S. Attorney Breon Peace for the Eastern District of New York. “My office is committed to investigating and prosecuting those who plunder taxpayer-funded, federal health care programs dollars while purporting to offer health care services.”
“HHS-OIG is committed to working with our law enforcement partners to investigate allegations that bribes and kickbacks are paid with Medicaid monies,” said Special Agent in Charge Naomi Gruchacz of the Department of Health and Human Services Office of Inspector General (HHS-OIG). “Individuals and entities that participate in the federal health care system are required to obey the laws meant to preserve the integrity of program funds and the provision of appropriate, quality services to patients.”
“The crimes outlined in this indictment took advantage of a network that offers essential health care and other services to those in need,” said Interim Commissioner Thomas G. Donlon of the New York City Police Department (NYPD). “Let it be clear: anyone who attempts to profit by defrauding the system will face consequences, as these schemes drain already limited resources and deprive beneficiaries of crucial funds. I commend our NYPD investigators and federal law enforcement partners for their successful and continued collaboration.”
“As alleged, the defendants saw nothing beyond the dollar signs associated with their crimes, and in turn defrauded the U.S. government of $68 million in welfare funds meant for one of our country’s most vulnerable populations,” said Special Agent in Charge William S. Walker of Homeland Security Investigations (HSI) New York. “Today’s announcement underscores the HSI New York El Dorado Task Force’s unrelenting focus on dismantling and disrupting financial fraud schemes that exploit the American public and hurt our economy.”
Khan is charged with conspiracy to commit health care fraud, three counts of health care fraud, conspiracy to defraud the United States and to pay and receive health care kickbacks, paying health care kickbacks, conspiracy to commit money laundering, and money laundering. If convicted, she faces a maximum penalty of 20 years in prison for each count of conspiracy to commit money laundering and money laundering, 10 years in prison for each count of conspiracy to commit health care fraud, health care fraud, and paying health care kickbacks, and five years in prison for conspiracy to defraud the United States and to pay and receive health care kickbacks.
Abassi, Antao, Hamdi, and Ijaz are charged with conspiracy to commit health care fraud, conspiracy to defraud the United States and to pay and receive health care kickbacks, conspiracy to commit money laundering, and money laundering. If convicted, they face a maximum penalty of 20 years in prison for each count of conspiracy to commit money laundering and money laundering, 10 years in prison for conspiracy to commit health care fraud, and five years in prison for conspiracy to defraud the United States and to pay and receive health care kickbacks.
Hashmi is charged with conspiracy to commit health care fraud, three counts of health care fraud, conspiracy to defraud the United States and to pay and receive health care kickbacks, and paying health care kickbacks. If convicted, he faces a maximum penalty of 10 years in prison for each count of conspiracy to commit health care fraud, health care fraud, and paying health care kickbacks, and five years in prison for conspiracy to defraud the United States and to pay and receive health care kickbacks.
Memon is charged with conspiracy to commit health care fraud, conspiracy to defraud the United States and to pay and receive health care kickbacks, and paying health care kickbacks. If convicted, she faces a maximum penalty of 10 years in prison for each count of conspiracy to commit health care fraud and paying health care kickbacks and five years in prison for conspiracy to defraud the United States and to pay and receive health care kickbacks.
Wasef is charged with conspiracy to commit health care fraudand conspiracy to defraud the United States and to pay and receive health care kickbacks. If convicted, she faces a maximum penalty of 10 years in prison for conspiracy to commit health care fraud and five years in prison for conspiracy to defraud the United States and to pay and receive health care kickbacks.
HHS-OIG, NYPD, and HSI are investigating the case.
Trial Attorney Patrick J. Campbell of the Criminal Division’s Fraud Section is prosecuting the case. Assistant U.S. Attorney Tanisha R. Payne for the Eastern District of New York is assisting with forfeiture matters.
The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of nine strike forces operating in 27 federal districts, has charged more than 5,400 defendants who collectively have billed federal health care programs and private insurers more than $27 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with HHS-OIG, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
Union Home Minister and Minister of Cooperation, Shri Amit Shah will address the 119th Annual Session of PHD Chamber of Commerce and Industry as the Chief Guest in New Delhi tomorrow The theme of the annual session is ‘Viksit Bharat @ 2047: Marching towards the peak of progress’
The entire country is moving rapidly with dedication and devotion towards the resolution of Prime Minister Shri Narendra Modi to make India a developed nation by the year 2047
Under the leadership of Prime Minister Modi, the country is moving towards becoming the third largest economy of the world
Posted On: 09 OCT 2024 4:54PM by PIB Delhi
Union Home Minister and Minister of Cooperation, Shri Amit Shah will address the 119th Annual Session of PHD Chamber of Commerce and Industry as the Chief Guest on Thursday, 10 October 2024 at Vigyan Bhavan, New Delhi. The theme of the annual session is ‘Viksit Bharat @ 2047: Marching towards the peak of progress’.
Prime Minister Shri Narendra Modi has pledged to make India a developed nation by the year 2047 and the whole country is moving rapidly in that direction with dedication and devotion.
India has joined the top 5 economies of the world and under the leadership of Prime Minister Shri Narendra Modi it is moving towards becoming the third largest economy of the world.
Around 1500 business persons, Chartered Accountants, bankers, advocates etc. from the industry will participate in the 119th session.