Category: Economy

  • MIL-OSI Russia: Financial news: Deposit auction of JSC “KAVKAZ.RF” will be held on 08.10.2024

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n73815

    Category24-7, MIL-AXIS, Moscow, Moskov Stotsk Exchange, Russians Savings, Russian Federation, Russians Language, Russian economy

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    Parameters
    Date of the deposit auction 10/08/2024
    Placement currency RUB
    Maximum amount of funds placed (in placement currency) 30,000,000.00
    Placement period, days 12
    Date of deposit 10/09/2024
    Refund date 10/21/2024
    Minimum placement interest rate, % per annum 19.40
    Conditions of imprisonment, urgent or special Urgent
    Minimum amount of funds placed for one application (in placement currency) 30,000,000.00
    Maximum number of applications from one Participant, pcs. 1
    Auction form, open or closed Open
    Basis of the Agreement General Agreement
     
    Schedule (Moscow time)
    Preliminary applications from 12:00 to 12:10
    Applications in competition mode from 12:10 to 12:15
    Setting a cut-off percentage or declaring the auction invalid until 12:25
       
    Additional terms  

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Big Boost for Derby Jobs Fair returns!

    Source: City of Derby

    Severn Trent and Derby City Council are proud to announce that Severn Trent’s Big Boost for Derby Jobs Fair is returning! The event will take place on Wednesday 23 October 2024, at Pride Park Stadium from 10am to 2pm and is completely free. The jobs fair is designed to help local people in Derby who are looking to upskill or change careers by providing direct access to a variety of employment opportunities and career development resources.

    Attendees will benefit from on-site CV writing workshops, interview preparation sessions, and career counselling, ensuring they leave equipped with the skills and confidence needed to help secure employment. The event will feature over 20 employers, showcasing roles across sectors like health care, customer service, engineering, and utilities. Some of the employers attending include:

    • Derbyshire Police
    • Balfour Beatty
    • Deventio Housing Trust
    • NHS
    • Everyone Active
    • And many more yet to be announced!

    Severn Trent is introducing innovative tools such as virtual reality interview practice, allowing job seekers to simulate real-life interview experiences. The event will also offer crucial information on cost-of-living support, helping attendees to manage financial challenges while job hunting.

    Councillor Paul Hezelgrave, Deputy Leader of Derby City Council and Cabinet Member for Children, Young People and Skills, said:

    Derby has always been a city of potential, and now more than ever, we want to empower our residents to make bold changes in their careers by enhancing their skills in making a positive impact in job applications and interviews to bolster self-confidence and an ability to “sell themselves” to employers. The Big Boost for Derby Jobs Fair is a fantastic opportunity for people to connect with employers and explore opportunities that can help them build a better- paid future for themselves and their families.

    This event is completely free to attend so that we can ensure that everyone has access to the tools they need to thrive in their careers.”

    Severn Trent said:

    We see you, Derby. We hear you. We want tomorrow to be better than today, for you and the people around you. Whether you are looking to get into work for the first time or would just like a change, Derby is full of new opportunities, new skills, new chances. So, let’s bring everyone together to boost Derby’s potential.”

    Those interested in attending can register for free on the Eventbrite page.

    If you cannot make the event but still want support with developing your skills or finding a new job, contact the Employment and Skills Hub. As part of the Derby Promise, Derby City Council has launched the Employment and Skills Hub to help you gain the confidence, support and skills to move into employment. The Hub is based at the Council House and is open from 10am to 5pm Monday to Friday.

    You can learn more about the Employment and Skill Hub by visiting their webpage or get in touch with the team by emailing employmentandskills@derby.gov.uk. You can also subscribe to the Derby Jobs Weekly newsletter.

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Hong Kong FinTech Week 2024 “Illuminating New Pathways in Fintech” details released (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong FinTech Week 2024 “Illuminating New Pathways in Fintech” details released (with photos)
    Hong Kong FinTech Week 2024 “Illuminating New Pathways in Fintech” details released (with photos)
    ******************************************************************************************

         Invest Hong Kong (InvestHK) today (October 8) unveiled details of Hong Kong FinTech Week 2024 (HKFW). The ninth edition of HKFW, themed “Illuminating New Pathways in Fintech” will take place from October 28 to November 1. This flagship event stands at the forefront of the global fintech evolvement. Aligned with Hong Kong’s vision, the aim is to steer the future of financial services and beyond. The largest and most influential gathering of international leaders in finance and technology      As the city’s premier fintech gathering, HKFW is organised by the Financial Services and the Treasury Bureau and InvestHK, in collaboration with the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), and the Insurance Authority (IA). The event is expected to draw over 30 000 attendees from more than 100 economies.      With hundreds of distinguished speakers and numerous sponsors and exhibitors, the main conference taking place between October 28 and 29 at Hong Kong AsiaWorld-Expo promises to be a convergence of global expertise and cutting-edge fintech innovations.      HKFW draws votes of confidence from both the Mainland and international companies and markets. The event this year will feature an unprecedented number of Mainland Chinese big tech companies showcasing their latest innovations, as well as notable speakers and delegates from the Association of Southeast Asian Nations (ASEAN) and the Middle East, which solidifies Hong Kong’s multifaceted business connections and landscape.      The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “With its strategic location and robust financial infrastructure, Hong Kong emerges as a ‘super connector’ and ‘super value-adder’ for fintech. Hong Kong is primed to lead the transformative journey to uncover the pathways to opportunities. Our city is ranked third in the latest Global Financial Centres Index and first in the Asia Pacific Region. In terms of fintech, Hong Kong rose five places to ninth, putting it among the top 10 fintech hubs globally. This reflects the concerted efforts of the Government, financial regulators, and industry players to promote fintech development in Hong Kong.”      Mr Hui added that through various initiatives aimed at attracting and retaining strategic companies and talent, Hong Kong is ready for positive results from the FinTech Week, and the event this year will pave the way for connected, efficient, and sustainable global economic growth from fintech offerings. Exploring tomorrow’s solution today      With Hong Kong now ranking among the top three global financial centres and top 10 fintech centres globally, HKFW 2024 is poised to be a vibrant hub of ideas, innovations, and global collaborations, reinforcing Hong Kong’s institutional advantages and abilities for breakthroughs in innovative financial services and leading market innovation.      This year, HKFW places a significant emphasis on cutting-edge technologies such as Artificial Intelligence (AI). Recent surveys reveal that 38 per cent of finance executives in Hong Kong have initiated the incorporation of generative AI, marking the highest rate among all surveyed markets and notably surpassing the global average of 26 per cent.      The main conference will feature eight themed forums on the latest technologies and cross-industry connections. These forums include the Global Forum, AI & Advanced Tech Forum, Blockchain & Digital Assets Forum, Payments & Other FinTech Forum, InsurTech Forum, Green FinTech & Impact Forum, WealthTech & InvestTech Forum, and Hong Kong Connect Forum, offering participants a comprehensive view of the ever-evolving fintech landscape. The stages and zones will also be designed in the Chinese wisdom of “wuxing” and “yinyang”.      A series of engaging community events will take place throughout the week, running from October 28 to November 1 in Hong Kong and Shenzhen. These events will include a tour of the Greater Bay Area, satellite and networking events, lifestyle activities and workshops and the inaugural Web3x3 basketball game.      The Director-General of Investment Promotion of InvestHK, Ms Alpha Lau, said, “As a leading international financial centre, fintech has always been an important pillar of the Hong Kong economy. Last year, Hong Kong climbed to the top 10 in the United Nations’ Global Frontier Technologies Readiness Index. This readiness to embrace technologies like blockchain and AI is essential to ensuring the long-term competitiveness of our financial services industry. We will continue to promote Hong Kong’s strengths in financial services, innovation and technology, and family offices. And our strategic focus will be on enhancing our promotion drive in key markets, including ASEAN and the Middle East. Hong Kong FinTech Week will be an important platform to turn these foci areas into action. It is an engine to drive businesses to Hong Kong, as well as create bridges for our city’s fintech ecosystem to capture global opportunities.”      This year, semi-finalists of the Global Fast Track will be invited to Hong Kong to pitch in person on stage during HKFW, with the grand finale taking place on the second day. This is an unparalleled opportunity for qualified fintech innovators to showcase their profile in front of thousands of audience members, key corporates and investors looking for fintech solutions and investment opportunities. This year, the programme received an overwhelming response, with over 500 applications from 56 economies worldwide. List of esteemed speakers at the main conference Hong Kong Special Administrative Region Government and regulators:

    The Financial Secretary, Mr Paul Chan;
    The Secretary for Financial Services and the Treasury, Mr Christopher Hui;
    The Secretary for Commerce and Economic Development, Mr Algernon Yau;
    The Chief Executive of the HKMA, Mr Eddie Yue;
    The Chief Executive Officer of the IA, Mr Clement Cheung;
    The Executive Director (Intermediaries) of the SFC, Dr Eric Yip;
    The Under Secretary for Financial Services and the Treasury, Mr Joseph Chan;
    The Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong;
    The Director-General of Investment Promotion of InvestHK, Ms Alpha Lau; and
    The Deputy Director-General of Office for Attracting Strategic Enterprises, Dr Jimmy Chiang.

     Mainland Government and regulators:

    The Director of the Local Financial Management Bureau of Shenzhen Municipality, Mr Shi Weigan; and
    The Director-General of the Guangzhou Municipal Local Finance Administration Bureau, Mr Fu Xiaochu.

     Industry leaders: Highlighted speakers in the tech space:

    The Vice President and Chief Financial Officer of Xiaomi Corporation, Mr Alain Lam;
    The Founder, Chairman and Chief Executive Officer of Linklogis, Mr Charles Song;
    The Chairman and Chief Executive Officer of Ant Group, Mr Eric Jing;
    The Corporate Vice President, Head of Tencent Financial Technology of Tencent, Mr Forest Lin; and
    The Managing Director and General Manager, Sales and Operations of Google Hong Kong, Mr Michael Yue.

     Highlighted speakers in the AI and advanced technologies space:

    The Founder and Chief Executive Officer of 4Paradigm, Mr Dai Wenyuan;
    The Founder of 3Cap Investment, Ms Esther Wong;
    The Chief Executive Officer of Fosun Capital, Mr Mike Xu;
    The Co-founder of SenseTime, Mr Xu Bing; and
    The Chief Executive Officer of Du Xiaoman Technology, Mr Zhu Guang.

     Highlighted speakers in the blockchain space:

    The Co-founder and Chief Executive Officer of R3, Mr David E. Rutter;
    The Co-Founder, Chief Executive Officer, and Chairman of Circle, Mr Jeremy Allaire;
    The President of Solana Foundation, Ms Lily Liu;
    The Chief Executive Officer of Bullish, Mr Tom Farley; and
    The Co-founder of Chainlink; Mr Sergey Nazarov.

     Highlighted speakers in the insurtech space:

    The Chief Executive Officer of AIA Hong Kong and Macau, Mr Alger Fung;
    The Chief Executive Officer of Sun Life Hong Kong , Mr Clement Lam;
    The Chief Executive Officer of Zurich Insurance (Hong Kong), Mr Eric Hui;
    The Chief Executive Officer of AXA, Greater China, Ms Sally Wan; and
    The Founder, Chairman of the Board of Directors and Chief Executive Officer of Waterdrop Inc, Mr Shen Peng.

     Highlighted speakers in the payment space:

    The Founder and Chief Executive Officer of Aspire, Mr Andrea Baronchelli;
    The Chief Executive Officer of PayMe, HSBC, Mr Brad Jones;
    The President and Chief Executive Officer of GCash/Mynt, Ms Martha Sazon;
    The Global Head of Coin Systems and Liink by JP Morgan, JP Morgan Chase Bank, Mr Naveen Mallela; and
    The Chief Executive Officer of GX Bank, Ms Pei Si Lai.

     Highlighted speakers in the financial space:

    The General Manager, Personal Digital Banking Product Department of Bank of China (Hong Kong), Mr Arnold Chow;
    The International President of Standard Chartered, Mr Benjamin Hung;
    The Executive Vice President and Chief Information Officer of WeBank, Mr Henry Ma;
    The Chief Executive Officer, Hong Kong, of HSBC, Ms Luanne Lim; and
    The Head of Services of Citi, Mr Shahmir Khaliq.

     Highlighted speakers in the Venture Capital & Investing space:

    The Managing Partner of GCCVest Advisors Limited, Mr Ben Jelloun;
    The Managing Principal, Global Head of Capital Markets, Co-Chair of Alternative Investments of Gaw Capital Partners, Ms Christina Gaw;
    Partner of 5Y Capital, Mr Elwin Yuan;
    The Co-founder and Managing Partner of DST Global, Mr John Lindfors; and
    The Co-founder and Chairman of Gobi Partners, Mr Thomas G. Tsao.

          Finoverse is the appointed event organiser of HKFW 2024. For more information and the latest updates on speakers and livestream details, please visit http://www.fintechweek.hk/, or follow via official social media accounts:LinkedIn: Hong Kong Fintech Week; andYouTube: http://www.youtube.com/c/HongKongFinTechWeek.

     
    Ends/Tuesday, October 8, 2024Issued at HKT 17:50

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI United Nations: Consolidating North Macedonia’s institutional framework for circular economy transition

    Source: United Nations Economic Commission for Europe

    8:30 – 9:00

    Registration

    9:00 – 9:20

    Opening

    • H.E. Mr. Kire Ilioski, Ambassador, Director for Multilateral Relations, Ministry of Foreign Affairs and Foreign Trade, North Macedonia
    • Mr. Blerim Zllatku, State Advisor, Ministry of Economy and Work, North Macedonia
    • Ms. Rita Columbia, Resident Coordinator, United Nations Resident Coordination Office, North Macedonia

    9:20 – 10:25

    North Macedonia’s development landscape: National reforms and future challenges

    • Trade Facilitation

    Mr. Marjan Tasevski, Director of Sector for Customs System, Customs Administration, North Macedonia

    • Environmental sustainability

    Ms. Ana Karanfilova Maznevska, Head of Waste Department, Ministry of Environment, North Macedonia

    • Energy sustainability

    Ms. Valentina Stardelova, Ministry of Energy, Mining and Mineral Resources, North Macedonia

    • Quality Infrastructure

    Ms. Neriman Xheladini, Head of Department Single Market, Ministry of Economy and Work, North Macedonia

    • Construction

    Mr. Toni Arangelovski, Professor, Civil Engineering Faculty, Ss. Cyril and Methodius University in Skopje, North Macedonia (UKIM)

    10:25 – 10:40

    Unpacking the concept of the circular economy: Principles and business models

    • Ms. Hana Daoudi, Economic Affairs Officer, Economic Cooperation and Trade Division, UNECE

    10:40 – 11:00

    Upscaling the textile industry’s circular practices: the role of traceability

    • Ms. Claudia Di Bernardino, Lawyer and UN/CEFACT (United Nations Centre for Trade Facilitation and Electronic Business) project expert, UNECE Team of Specialists on Environmental, Social and Governance (ESG) Traceability of Supply Value Chains

    11:00 – 11:15

    Coffee Break

    11:15 – 11:50

    Circular stories from North Macedonia’s textiles industry

    • Ms. Natasha Sivevska, Executive Director, Textile Trade Association, North Macedonia
    • Ms. Evgenija Najdska, Manager, Waste Management, Comfy Angel, North Macedonia
    • Ms. Sirma Zheleva, Head of Sustainable Solutions Textile Recovery Solutions, TexCycle, Republic of Bulgaria 

    11:50 – 12:10

    From farm to fork: Circular innovations in the food industry

    • Mr. Shane Ward, Professor Emeritus of Biosystems Engineering, School of Biosystems and Food Engineering, University College Dublin

    12:10 – 13:00

    Circular stories from North Macedonia’s food industry

    • Mr. Petar Georgievski, President, Rural Development Network of the North Macedonia
    • Mr. Abdulezel Dogani, Chief Executive Officer, Vezë Sharri, North Macedonia
    • Mr. Jana Klopcevska, Associate Professor, Department of Food and Biotechnology, Ss. Cyril and Methodius University in Skopje, North Macedonia (UKIM)
    • Mr. Ismail Ferati, Assistant Professor, Faculty of Food Technology and Nutrition, University of Tetova, North Macedonia
    • Ms. Irena Djimrevska, Advisor and Project Coordinator, Deutsche Gesellschaft fürInternationale Zusammenarbeit (GIZ) GmbH

    13.00 – 13.20

    Questions and answers

    13:20 – 14:20

    Lunch Break

    14:20 – 14:40

    Closing the loop: Best practices in waste management for circularity

    • Mr. Gergely Hankó, Managing Director, Hungarian Association of Environmental Enterprises (HAEE)

    14:40 – 15:40

    Circular stories from North Macedonia’s waste treatment industry

    • Mr. Filip Ivanov, Deputy President, Macedonian Solid Waste Association
    • Mr. Filip Ivanovski, Managing Director, Pakomak, North Macedonia
    • Mr. Ljubomir Pejovski, Environment Manager, Makstil AD, North Macedonia
    • Mr. Vlado Momirovski, Manager, Ekocentar 97, North Macedonia 
    • Ms. Angelina Taneva-Veshoska, Institute for Research in Environment, Civil Engineering and Energy (IEGE)
    • Ms. Tamara Todorovska, Deputy Chief of Party/ Public-Private Dialogue Lead, USAID Partnerships for Economic Growth, North Macedonia

    15:40 – 15:55

    Questions and answers

    15:55 – 16:25

    Researching circularity: academic perspectives on the transition

    • Mr. Dejan Mirakovski, Rector, Goce Delcev University of Štip, North Macedonia
    • Ms. Emilija Fidanchevski, Full Professor, Faculty of Technology and Metallurgy, Ss. Cyril and Methodius University in Skopje, North Macedonia (UKIM)
    • Ms. Aleksandra Martinovska Stojcheska, Full Professor, Faculty of Agricultural Sciences and Food at the Ss. Cyril and Methodius University in Skopje (UKIM)

    16:25 – 16:40

    Coffee Break

    16:40 – 17:30

    Supporting circular economy practices among enterprises: the experience of North Macedonia’s Chamber of Commerce and Industry

    • Ms. Daniela Mihajlovska, Manager, Centre for Circular Economy, Economic Chamber of North Macedonia
    • Mr. Edvard Sofevski, President, Small Business Chamber of Commerce, North Macedonia
    • Ms. Elena Miloshevska Jovanovska, Country Representative, Swiss Import Promotion Program (SIPPO), North Macedonia
    • Mr. Goran Damovski, Team Leader, Swiss Agency for Development and Cooperation (SDC) Increasing Market Employability (IME) Program, North Macedonia
    • Ms. Irina Janevska, President, Organization for Social Innovation (ARNO), North Macedonia

    17:30 – 17:45

    Financing the circular transition

    • Delegation of the European Union to North Macedonia

    17:45 – 18.00

    Questions and answers

    18:00 – 18:15

    Closing remarks: Mapping future cooperation with UNECE

    • Mr. Blerim Zllatku, State Advisor, Ministry of Economy and Work, North Macedonia
    • Mr. Ariel Ivanier, Chief, Market Access Section, Economic Cooperation and Trade Division, UNECE

    MIL OSI United Nations News

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

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the website bydfiwo.com. According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation.

    The website operator is simply referred to as “BYDFI”, and there is no information regarding its legal form. The website does not contain a legal notice or any information regarding the company’s registered office. BaFin already issued a warning about the almost identical website bydfixio.com on 26 August 2024.

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

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (KreditwesengesetzKWG).

    Please be aware:

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

    MIL OSI Economics

  • MIL-OSI United Kingdom: Prison Governors Association Speech

    Source: United Kingdom – Executive Government & Departments

    Lord Timpson, Minister for Prisons, Probation and Reducing Reoffending, sets out why prison governors are at the forefront of efforts to drive down reoffending.

    Please note the political content has been removed from this transcript.

    Thank you for that introduction, Graham, and for the invitation to speak – it’s great to be here.

    Thanks to everyone involved for putting this event together.

    Let me start by saying just how grateful I am for the PGA’s work.

    You speak up for change, where change is needed…

    You push Government, where it needs to be pushed…

    And you do it not just for those you represent, but in the interests of public safety too.

    Your voice is valued, and we thank you for it… even when you say things we don’t necessarily want to hear.

    I know it’s your first annual conference since becoming PGA President, Tom – congratulations again on your appointment.

    Let me also congratulate your new Vice-Chairs, Mark, and Carl, on their appointments too.

    I’ve known Tom for a while now – we once even shadowed each other a few years ago, when he was Governor at HMP Wakefield, and I headed up the Timpson Group.

    I took Tom to visit some of our shops – one branch was in Uttoxeter Tesco, as I recall – while I found out what it’s like to lead one of our toughest prisons. 

    I know who has it harder…!

    And now I’m wearing a new hat, I did ask Tom if he fancied another job swap – but for some reason he wasn’t up for it.

    I can’t think why…

    I realise that the CEO of a business and prison governor are very different roles – but there are similarities, too.

    Both manage complex organisations. Both need a strategic brain, excellent management skills, the ability to communicate, inspire and motivate.

    But the main difference is this: most people know what a CEO does, what their job entails.

    You, on the other hand, are largely hidden from view. Even when prisons are plastered all over our TV screens, as they are right now.

    The average person would have little idea about your day-to-day – what it really means to lead a prison in 2024, as Tom has set out so starkly just now.

    Working every hour, under extraordinary pressure, to run safe and secure regimes.

    Dealing with self-harm, deaths and the scourge of drugs on a daily basis.

    Supporting your teams and trying to nurture them in an environment more stressful than most could imagine.

    Every challenge amplified, because our prisons are full to bursting.

    These are the realities you face every day.

    Now, prisons have always fascinated me – since I was a young boy, and my Mum, Alex, would take the babies she’d fostered into HMP Styal, so their mothers could see them.

    I’d sit outside in the car and wonder what was going on inside…

    What had these women done that was so terrible, that they couldn’t be with their babies?

    It was the start of a life-long interest.

    And as you may know, around 10 percent of people who work for Timpson are ex-offenders.

    It all started by chance 22 years ago, when, as a new CEO, I visited a local prison and met Matt – who got into a fight after his A-levels, and instead of going to university, went to jail.

    Matt showed me around the wing, and I immediately liked him. He was bright, enthusiastic, and I thought he was just the sort of person we wanted in the business.

    So I told him – “when you get out, I’ll give you a job.”

    And the rest is history.

    Matt went on to be one of our most successful branch managers – in a branch just a stone’s throw from the prison he served time in.

    He’s still there today. And while he hasn’t gone far physically, he’s travelled lightyears in terms of what he’s achieved…

    Because he had the will to turn his life around, and that extra support to get into work.

    I knew there must be more great people like Matt in our prisons, and from then on, we decided to proactively recruit ex-offenders.

    Later, working with you, we set up prison training academies…

    Then to create Employment Advisory Boards, building those vital links between prisons and local employers.

    And, in 2016, I was honoured to become Chair of the Prison Reform Trust.

    So I’ve been behind the scenes.

    And in that time, one constant has been your outstanding leadership, in the most challenging circumstances.

    It has been a privilege to get to know you, and to see the incredible work you do.

    Thank you.

    You have our deepest respect, and our gratitude.

    Over the years there has been much debate about what prison is primarily for – be it punishment, public protection or deterrence.

    Of course, it’s all of these things.  

    It’s right that dangerous people are taken off our streets – and that people who destroy lives and wreck our communities face the consequences.

    But if we cut to the core of it, prison should also be about reducing offending. That’s the only way we are genuinely going to protect the public.

    I say ‘should’, here, because it’s something we haven’t always been very good at in this country. I know you’d agree.

    Serious criminals should see the inside of a jail cell – and the most dangerous should stay there.

    But what happens next to the many offenders who will someday be let out really matters.

    For the vast majority of offenders, being locked up is a fork in the road.

    One way on that road can lead them to turn their lives around…

    The other will take them straight back to prison.

    Too often, it’s the latter. And I’ve no doubt how deeply frustrating it must be for you to see the same faces at your gates again and again.

    The numbers are clear – 80 percent of offending in this country is reoffending. That is too high by any measure.

    But I know just how determined you are to turn that around.  

    We all know what the answers are. I know that you know what needs to be done. My job is to help you realise those ambitions.

    Having worked in the family business since I was 14, I hope I’ve learnt a few things about leadership and responsibility along the way. There are plenty of philosophies out there.

    I found that a strong culture and high standards – rooted in trust, and kindness – was what worked for us.

    And I firmly believe that strong leaders – you – are the single most important element in a good prison.

    You set the culture…

    You set those high standards for your teams to follow, and for the prisoners you rehabilitate.

    And I can’t stress enough how important high standards are in our prisons.  

    Put it this way – I’ve never known a great organisation to have poor standards.

    That starts with the basics – a clean, tidy, environment, where prisoners and staff respect the rules.

    When I was a CEO, I’d check the Timpson head office car park for weeds and litter…

    Small things, I know. But they really matter…

    Those first impressions for people arriving really matter…

    And as leaders, it’s our job to lead by example.

    And in over 20 years of being involved with prisons, I can’t think of a time when your job has been tougher.

    For too long, you’ve been doing your best in very challenging circumstances.

    People don’t turn up to work to get beaten up, they turn up to inspire people, and to and turn lives around.

    Yet our crammed prisons are breeding violence – which threatens everyone’s safety, staff and prisoners alike…

    Staff shortages – and a lack of experienced staff – stretch your ability to run the kind of regimes you want to run.

    While so many of your prisons are dilapidated, in desperate need of repair…

    I’m grateful to Charlie Taylor – who is up next – for HMIP’s unflinching focus on these issues.

    And I know it hasn’t been easy, trying to rehabilitate offenders in a system teetering on the edge of disaster.

    A system that, when we came into government, had been run at 99 percent capacity for months.

    I should emphasise – none of this is your doing – in fact, the PGA has been sounding the alarm loud and clear.

    That’s why we had to take the tough decision to bring in changes to automatic release to ease the pressure on our prisons.

    It was, quite literally, a rescue effort.

    If we hadn’t acted, the justice system would have ground to a halt:

    Courts would have been unable to hold trials and police unable to make arrests.

    We would have faced the total breakdown of law and order.

    We only have to look at the recent disorder on our streets to see how close to catastrophe we came…

    Because we could deliver justice swiftly, we brought the violence to an end.

    But, in the process, we came dangerously close to running out of prison space entirely.

    We had no choice but to introduce emergency measures in the first few days of this new Government.

    It was only thanks to the heroic efforts of prison and probation staff, that we pulled through.

    We didn’t want to do this. But we were left with no choice…

    To attempt to delay any further, would have allowed our justice system to collapse.

    We could never have allowed that:

    This Government will always put the safety of the public – first.

    Throughout all of this you have been under immense pressure.

    Offender management units, in particular, have borne the brunt of several emergency measures…

    While more broadly the estate has coped with higher numbers of late arrivals and redirections.

    It’s in times like these that strong leadership matters most. We couldn’t have managed this crisis without you.

    And while there is still work to be done ahead of the next releases later this month, I want to thank you, again, for everything you’ve done to get us to this point.

    So, our changes have bought us some time. Time for the system to catch its breath.

    But these challenges haven’t just disappeared, and the crisis isn’t over.

    If things don’t change, we’ll end up in the same position all over again… Sooner than we care to mention.

    I want us to get a point where you can run your prisons how you want to run them…

    That is why the Justice Secretary has been clear that getting prisons built is a priority for her.

    That is why we will take control of the planning process, and deem prison development of national importance.

    And we also need decent regimes, that help offenders turn their backs on crime for good.

    I know there is brilliant, innovative work going on, and I want to encourage more of it.

    But innovating is difficult – impossible, even – when you’re so full that you can’t let prisoners out of their cells.

    That’s why it is essential we resolve this capacity crisis…

    So we can support and empower you to go even further to reduce reoffending.

    And, if we create the right conditions for you to do your jobs as you’d want to do them – I hope to see more of you staying in post for longer, too.

    Stability at the top is crucial.

    Because our prisons are on a journey, and there’s a long road ahead.

    Culture change doesn’t happen overnight.

    In my experience, it can take anywhere from three to five years to really move an organisation on.

    Much of our success will be down to you, our prison leaders.

    So I want to see more of you staying on that road for longer – and I want you to tell me how we can support you to do that.

    Great prisons need great leaders. But second, they need hardworking dedicated staff, like the officers in your teams.

    Fundamentally, prisons are a people business – like any company.

    As a CEO, I found that the happier people are in their jobs, the better they work. If they feel valued, trusted and cared for, they are going to perform well for you.

    And in your teams, people are working under such intense pressure day in, day out.

    The relationships – between you, and your staff… and your staff and your prisoners – go right to the core of safe, decent prisons.

    If we invest in officer training – in their well-being, and development – we empower them to do much more than simply maintain order.

    We empower them to become agents of change – to help people turn their lives around.

    I’ve met plenty of men and women who say that a prison officer transformed their life.

    Officers who took the time to mentor them – who really got to know the people on their wing.

    Who knew if their mum wasn’t well, or when their kids were starting school.

    But to be a prison officer requires a unique set of skills – quite unlike any other job.

    That ‘jailcraft’ equips officers for the challenges they will face every day. It takes time, and continual learning.

    Before joining the Government, I had the privilege of leading a review of prison officer training – speaking to hundreds of officers across the estate.

    It’s clear we have some decent foundations – but we can do so much more.

    I want to see more in-depth training that fully prepares officers for the realities of the role, right from the start.

    Greater consistency – with a strong curriculum and clear standards…

    More local ownership of training…

    Clear channels of accountability…

    And a culture of ongoing learning throughout an officer’s career…

    One that rightly builds pride in this absolutely critical role.

    I want to push forward with these changes, and I’ll say more about this as soon as I can.

    The third element of a good prison is, of course, purposeful activity.

    Prison education and training has a huge influence on the path offenders choose to take.

    It’s crucial that we get this right if we are to release better citizens, not better criminals.

    Yet I’ve seen people leave prison not even knowing how to use a computer.

    When we spend so much of our lives – and jobs – online, how are they supposed to get on in the modern world?

    That’s just one example. There are many others.

    But the point is clear: when you don’t have the right skills to get a job, slipping back into old habits is all too easy.

    And the lure of easy cash might feel like the only way to put money in your pocket.

    So, it might not come as a surprise that I’m passionate about prison education and training.

    Training that opens doors – that gives prisoners pride – and real skills that today’s employers want.

    I’m clear that prison is a punishment. But that’s no reason to stop the one in four working-age people in the UK who have criminal records from getting jobs.

    We know that prison leavers are less likely to reoffend if they have a job within a year of release.

    So, getting them into work doesn’t just cut crime, it boosts our economy too.

    That’s a win-win we can’t ignore.

    But for many, the process of applying for jobs can be daunting.

    That’s why I’m pleased to see a new partnership – between the Chartered Institute of Personnel and Development Trust and the New Futures Network.

    It will embed HR professionals in EABs…

    Ensure that prison leavers can access HR advice to support them into work…

    Provide mentoring for Prison Employment Leads…

    And help us to create even closer links between prisons and local employers.

    And, I can testify, former prisoners make great colleagues.

    In my experience, they work hard, they turn up on time, and they are trustworthy – because they are so hungry to prove themselves.

    The amount they can achieve – starting from rock bottom – is nothing short of extraordinary.

    It’s no exaggeration to say that some of the most accomplished people I know were once in prison.

    They want to grasp that second chance with both hands.

    Together – let’s make sure they get it.

    Our fourth route to reducing reoffending is by tackling the scourge of drugs in our prisons.

    As you know so well, drugs undermine rehabilitation, fuel violence, debt, and are a sure path back into crime.

    Nearly half of prisoners have a history of drug misuse.

    Many will have addictions when they turn up at your gates, but too many who were clean on the outside are drawn into drugs on the inside.

    That flies in the face of what we want our prisons to achieve.

    The answer is clear.

    First, we need to stop drugs getting into prison. We can hardly expect prisoners to kick the habit if our jails are a sweetshop for drugs.

    We know what you are up against. Not least the growing use of drones to smuggle drugs – and the phones that power the illicit market – over your walls…

    And the increasing threat of synthetic opioids…

    We have to adapt rapidly if we are to protect our staff and prisoners.

    Second, we need prisons to drive demand for drugs down, not up.

    Purposeful activity is so important here. If prisoners have meaningful ways to spend their time, they’re less likely to turn to drugs through boredom, or distress.

    Staff training is crucial too. Your teams have to understand drugs, and addiction, so they can make sure prisoners get the right support, and are helped to recover.

    Third, prisoners with an addiction need treatment.

    There is good evidence to show this reduces reoffending – but we also need to make sure they stay in treatment after release. That groundwork starts in prison.

    And fourth – where it’s safe and appropriate – we should be driving more people with a drug problem away from prison and into treatment.

    That could include greater use of drug and alcohol treatment requirements attached to community sentences, for example.

    There are no easy solutions, but I want to work with you to create a system where people leave custody prepared to lead productive, drug-free lives.

    I know there is innovative work going on out there – and I want to explore how we can replicate that work elsewhere.

    As I come to a close, let me say again – this is the beginning of a new journey for our prisons.

    This Government will rebuild and reform the system.

    We’ll accelerate the prison building programme, to make sure we have the cells we need.

    We’ll soon publish our ten-year capacity strategy, setting out how we will acquire new land for prisons, and reform the planning process.

    And, as you’re aware, we will carry out a review of sentencing – with a focus on how it both protects the public and reduces reoffending.

    We’ll soon be in a position to share the terms of reference of that independent review and announce its chair – and I know the PGA will play its full part once it is underway.

    As I’ve said, change takes time. It also takes stamina. The last Government hardly led by example – 14 Prison Ministers in as many years isn’t a record to be proud of.

    So I can assure you – it’s very much my intention to stay the course.

    I want you to judge me on my actions. When I’m back here next year, and the year after that, let’s see where we’ve got to.

    I’m fortunate to have started this job with a good working knowledge of prisons, but it’s been humbling to visit some of you recently, and be reminded of the complex and challenging work you do every day.

    Thanks to everyone who has taken the time to talk to me so far –

    Aled at Holme House…

    Pete at Five Wells…

    Amy at Downview…

    Andy at Wandsworth…

    Emily at High Down…

    Dan at Preston…

    And many, many more…

    I should say that getting out into the estate is another of my top priorities…

    So you can tell me straight – what’s really going on in the system, what you’re up against, and how, together, we can make it better.

    I hear the last Minister to go to Isle of Wight prison was Anne Widdecombe. So, Dougie, you’ve been forewarned. I’ll be coming down!

    Let me finish by saying thank you, again…

    To you, to your teams, and every single person who keeps the system running – the teachers, nurses, psychologists, and non-operational staff.

    As leaders, your role goes far beyond managing institutions.

    You are protecting communities…

    You are shaping lives…

    And ultimately, you are strengthening our society.

    Thank you.

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Millions of workers to benefit from modernised new pensions system

    Source: United Kingdom – Executive Government & Departments 2

    Millions of workers stand to benefit from greater financial security in later life following a consultation launched today.

    • Government unveils plans to modernise pensions and give workers greater security in retirement
    • Consultation launched to extend Collective Defined Contribution (CDC) pension provision, helping support the Government’s growth mission
    • Regulations form part of wider plans for future of workplace pensions to help increase returns for more people and ensuring greater value for money

    Following the Chancellor’s recent visit to Canada to see how retirement schemes successfully pool contributions from employees into larger funds that are managed by investors, the UK government is fast-tracking plans to modernise its own pensions system by broadening access to Collective Defined Contribution schemes. 

    Collective Defined Contribution (CDC) pension schemes, first introduced to the UK in 2022, have the potential to deliver reliable returns for savers, while ensuring more predictable costs for employers.

    Today, industry experts, savers and pension providers can have their say on new proposals to extend the current offering of CDC pension schemes to more employers, delivering better value for money for future pensioners and unlocking huge investment potential.

    In Canada, the funds from pooled pension contributions are invested into a wider range of assets like infrastructure, startups and private equity – which can benefit the wider economy and boost returns.

    Extending CDCs could similarly allow for greater return on investment for those saving into the schemes and allow for larger investment in the UK – supporting the Government’s growth mission to boost the economy.

    Minister for Pensions, Emma Reynolds, said:

    We are seizing this exciting opportunity to modernise our pensions market to deliver better outcomes for millions of workers.

    People work hard to put money aside for their pension with every pay cheque. This significant innovation will offer a more predictable income and greater finance security for future pensioners.

    Currently only single or connected employers can set up CDC schemes, with the first scheme launched by the Royal Mail yesterday.

    Building on the significant appetite from industry for extending CDC provision, the Government is now seeking to broaden access further by allowing unconnected multiple employer schemes – making this pension model more accessible to a wider range of businesses and employees.

    This work builds on plans to review our pensions landscape as well as our new Pension Schemes Bill which could boost pension pots – with further consolidation and broader investment strategies to possibly deliver higher returns for pensioners.

    The consultation seeks views from employers, industry experts, pension providers and the public on draft regulations and their potential impact.

    The consultation will run for six weeks – opening today and running until 19 November 2024.

    Supportive statements:

    John Ball, Chief Executive of the Church of England Pensions Board said:

    We welcome the publication today of draft regulations that support the creation of multi-employer CDC pension schemes. We look forward to scrutinising the detail, and to seeing how in due course, such an arrangement might transform retirement plans for those who work for the Church.

    Andy O’Regan, Client & Strategic Partnerships Director at TPT Retirement Solutions, said:

    The introduction of multi-employer whole-of-life CDC scheme regulations will be a landmark moment for UK pensions. Previously, CDC schemes had only been viable for the largest employers. These new rules will make it possible for all employers to provide their staff with a CDC pension scheme. We’ve already been speaking to around 200 employers who have expressed interest in how a CDC scheme could be delivered for their employees.

    Multi-employer CDC schemes have the potential to bring a host of advantages to pension savers when compared to traditional DC schemes. CDC schemes pool longevity and investment risk. This means that, compared to DC, they are expected to achieve higher benefits as well as provide members with an income for life. An added benefit is the removal of some of the complex financial decisions pension savers are required to make under DC. CDC schemes may also be more likely to invest in productive assets which could encourage economic growth and generate higher long-term returns for scheme members.

    This consultation will open the door to CDC for all employers regardless of size, with the first multi-employer CDC scheme potentially launching within a couple of years. We believe many employers, pension savers, and the wider economy could benefit from the introduction of these schemes. We look forward to responding to this consultation in due course.

    Additional Information

    • The consultation has been published on gov.uk: The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations 2025 – GOV.UK (www.gov.uk)]
    • This consultation launch follows the official launch of the UK’s first CDC scheme, the Royal Mail Collective Pension Plan which is a truly landmark moment for the UK pension landscape.
    • The draft regulations amend the Pension Schemes Act 2021 to remove the exclusion of whole-life unconnected multiple employer CDC schemes from operating.
    • The draft regulations set out what unconnected multiple employer CDC schemes must do to become authorised, to operate effectively under regulatory oversight, and what should happen if changes need to be made to these schemes.
    • The authorisation regime is designed to protect members and to build confidence in this new type of CDC provision by ensuring only soundly designed and well-run schemes can operate.  
    • We plan to introduce legislation in 2025, and subject to parliamentary approval, we intend to bring the legislation and an updated Regulator’s Code into force as soon as practicable after that.
    • CDC pension schemes – where employer and employee contributions are pooled into a single fund – spread risk and smooths the impact of any market volatility to provide a more predictable pension income based on collective investment performance.
    • Pooling risk also means that schemes can invest more in growth assets, including in the UK, and for longer than an average defined contribution (DC) scheme, supporting the Governments’ growth mission.
    • CDC schemes offer members a seamless transition to a regular retirement income without the need to make complex financial decisions.

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: UK sanctions Russian troops deploying chemical weapons on the battlefield

    Source: United Kingdom – Executive Government & Departments

    Russian troops involved in the abhorrent use of inhumane chemical weapons on the battlefield in Ukraine have been targeted by new UK sanctions.

    • Russia’s Radiological Chemical and Biological Defence (CBR) troops and their commander have been sanctioned for the deployment of barbaric chemical weapons in Ukraine. 
    • UK calls out Russia’s flagrant violation of the Chemical Weapons Convention (CWC) and urges Russia to immediately cease all such activity.  
    • Action continues the Foreign Secretary’s personal mission to target the full spectrum of the Kremlin’s malign activity through our arsenal of sanctions.

    Russian forces have openly admitted to using hazardous chemical weapons on the battlefield, with widespread use of riot control agents and multiple reports of the use of the toxic choking agent chloropicrin – first deployed on the battlefields of WW1.  

    Russia’s flagrant disregard for the Chemical Weapons Convention is a serious violation of international law. Agents of Putin’s mafia state were also responsible for deploying the deadly nerve agent Novichok on the streets of Salisbury in 2018, and against opposition leader Alexei Navalny in 2020.  

    Among those sanctioned today are the Radiological, Chemical and Biological Defence Troops of the Russian Armed Forces and its leader Igor Kirillov, responsible for helping deploy these barbaric weapons. Kirillov has also been a significant mouthpiece for Kremlin disinformation, spreading lies to mask Russia’s shameful and dangerous behaviour.

    Foreign Secretary, David Lammy said: 

    The UK will not sit idly by whilst Putin and his mafia state ride roughshod over international law, including the Chemical Weapons Convention. I have made it my personal mission to challenge this malign activity, and I will not back down. 

    Russia’s cruel and inhumane tactics on the battlefield are abhorrent and I will use the full arsenal of powers at my disposal to combat Russia’s malign activity. 

    Let me be clear; Putin and those who carry out his will have nowhere left to hide. We will continue to use sanctions to directly target and counter the Kremlin’s attempts to sow fear, division and disorder.

    Defence Secretary, John Healey said:

    Our message to Putin and his regime is clear: you cannot break international law without facing the consequences.

    We will not allow such blatant violations of the Chemical Weapons Convention and rules-based international order to go unpunished.

    The UK is cracking down on those responsible for these horrific chemical attacks in Ukraine. Our support for Ukraine is ironclad and will continue for as long as it takes.

    Also sanctioned today are two Russian Ministry of Defence laboratories for providing support for the development and deployment of these inhumane weapons for use on the frontlines. 

    The UK is steadfast in supporting Ukraine’s fight for freedom, liberty and victory in the face of these barbaric attacks. We have provided Ukraine with vital equipment and training to protect its people against chemical weapons.  

    The UK has also committed to delivering £3 billion of military aid to Ukraine every year for as long as they need. The UK’s military, financial, diplomatic and political support for Ukraine is iron-clad. We cannot and will not let aggressors like Putin succeed.

    Background

    Today’s action comes as the UK delivers a statement to the Organisation’s Executive Council laying out the UK’s commitment to the Chemical Weapons Convention and the OPCW in the face of those who act to undermine it. The full speech can be found here. 

    Those sanctioned today are: 

    • The Radiological Chemical and Biological Defence Troops of the Ministry of Defence of the Russian Federation. 
    • Igor Kirillov, Head of the Radiological Chemical and Biological Defence Troops of the Ministry of Defence of the Russian Federation. 
    • The Russian Ministry of Defence 27th Scientific Centre. 
    • The Russian Ministry of Defence 33rd Central Scientific Research and Testing Institute. 

    These targets have been designated under the UK’s Chemical Weapons (Sanctions) (EU Exit) Regulations 2019. The individual will be subject to an asset freeze and travel ban, and entities subject to an asset freeze. The asset freeze will apply to all persons within the territory and territorial sea of the UK and to all UK persons, wherever they are in the world. It also prevents funds or economic resources being provided to or for the benefit of the designated person. An individual subject to a travel ban must be refused leave to enter or to remain in the United Kingdom.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: President Lai meets Senate President Alvina Reynolds and Speaker Claudius J. Francis of Saint Lucia

    Source: Republic of China Taiwan

    President Lai meets Senate President Alvina Reynolds and Speaker Claudius J. Francis of Saint Lucia
    President Lai meets Senate President Alvina Reynolds and Speaker Claudius J. Francis of Saint Lucia
    2024-10-08

    On the morning of October 8, President Lai Ching-te met with a delegation led by Senate President Alvina Reynolds and Speaker Claudius J. Francis of Saint Lucia. In remarks, President Lai thanked the delegation for joining us to mark our National Day celebration, demonstrating the friendly relations between the governments and parliaments of our two countries. The president noted that Saint Lucia is one of Taiwan’s key allies in the Caribbean, and that over the years, our diplomatic alliance has continued to deepen as our bilateral cooperation in several areas has yielded fruitful results. He stated that going forward, Taiwan will continue to promote values-based diplomacy and economic diplomacy, and he expressed his hope that we will continue to enhance the well-being of our peoples and contribute more to global peace and prosperity.
    A translation of President Lai’s remarks follows:
    I extend a warm welcome to Senate President Reynolds and Speaker Francis as they visit Taiwan once again. It is a pleasure to have you and your delegation join us to mark our National Day Celebration. Your presence demonstrates the friendly relations between the governments and parliaments of our two countries.
    Saint Lucia is one of Taiwan’s key allies in the Caribbean. It has continued to voice support and call for Taiwan’s international participation at numerous international venues, including the Central American Parliament and the General Debate during this year’s United Nations General Assembly. I would like to take this opportunity to express my sincere thanks to the government and parliament of Saint Lucia.
    Taiwan and Saint Lucia share such universal values as freedom, democracy, and the rule of law. Over the years, our diplomatic alliance has continued to deepen. At the same time, bilateral cooperation in such areas as the economy, agriculture, and education has yielded fruitful results. In working toward post-pandemic economic recovery, Taiwan and Saint Lucia have cooperated on promoting vocational training and empowerment projects for women and the youth. This has helped enhance industrial processing technology, boosted the competitiveness of goods, and created even more job opportunities.
    Furthermore, with regard to the cultivation of talent, Taiwan’s youth ambassadors visited Saint Lucia last year and shared their experiences with local students. I thank Senate President Reynolds and Speaker Francis for their warm reception of our students. And I believe that the ongoing promotion of bilateral projects designed to nurture talent will facilitate even more cooperation and exchanges.
    In closing, I want to thank you all for your longstanding support for our diplomatic relations. Going forward, Taiwan will continue to promote values-based diplomacy, strengthening ties with Saint Lucia. We will also engage in economic diplomacy, spurring further industrial development together with our democratic partners and Saint Lucia for the benefit of our peoples. Let us move forward together as we continue to enhance the well-being of our peoples and contribute more to global peace and prosperity.
    Senate President Reynolds then delivered remarks, first extending greetings to President Lai from the government, people, and members of parliament of Saint Lucia. She extended sincere congratulations to President Lai on his election success, expressing her confidence that he will lead this great country into realizing greater success. 
    Senate President Reynolds remarked that it is her distinct honor to be back in our beautiful country once again, this time to join with us as we celebrate our 113th anniversary of National Day. She noted that they celebrate our great advancements in education, technology, trade and manufacturing, community development, health and wellness, arts and culture, climate, smart agriculture, sustainable development, and our values in diplomacy. 
    Senate President Reynolds pointed out that their visit is more than a symbol of the warm and friendly relations that Taiwan and Saint Lucia have enjoyed for many years; it is also a celebration and a reaffirmation of the deep diplomatic bonds that have existed between our peoples. Over the years, this partnership has significantly impacted the lives of Saint Lucians, especially the women, children, and persons with disabilities who are the most vulnerable among them.
    On behalf of Prime Minister Philip J. Pierre and the government and people of Saint Lucia, Senate President Reynolds offered their profound gratitude for Taiwan’s kind generosity over the years. She added that as Taiwan prospers and shares selflessly with the rest of the world, Saint Lucia has also benefited. Taiwan’s kind gestures, she noted, contribute to improving the lives and livelihoods of so many Saint Lucians. 
    As a former minister for health and member of parliament in Saint Lucia, Senate President Reynolds said that she was able to see firsthand the significant contributions that Taiwan has made and continues to make to Saint Lucia’s health sector. This includes, she said, the scholarships Taiwan offers to many young Saint Lucians to pursue studies in the field of medicine. She added that Taiwan has also offered opportunities for biomedical, health promotion, and health technology training, and that it has given professional assistance for the prevention and control of non-communicable diseases.
    In closing, Senate President Reynolds once again expressed gratitude to the people of Taiwan. Stating that she looks forward to us continuing to work together for the further growth and development of the peoples of Saint Lucia and Taiwan, she wished Taiwan a happy National Day.
    Speaker Francis then delivered remarks, saying that he is honored to extend heartfelt congratulations to President Lai on his election as president. He said he is confident that in assuming this role of leadership, President Lai will guide our nation toward prosperity, peace, and progress. The speaker noted that Taiwan has long been a beacon of democracy, innovation, and resilience, and that it is a shining example to nations across the globe. He added that our strides in areas such as technology, healthcare, and sustainable development have not only elevated Taiwan’s standing but have also inspired admiration and respect worldwide.
    Speaker Francis expressed gratitude on behalf of the government and people of Saint Lucia for the unwavering support that Taiwan has extended to their nation. Through partnerships in healthcare, education, agriculture, and infrastructure, Taiwan has stood by them, he said, fostering growth and enriching the lives of all Saint Lucians. He emphasized that Taiwan’s generosity and friendship have made a tangible difference in Saint Lucia, enabling them to achieve significant milestones and overcome challenges together. That spirit of collaboration between our two nations, he noted, serves as a testament to the enduring bonds of solidarity and shared values that unite us.
    Speaker Francis stated that the resilience and determination demonstrated by Taiwan in the face of global challenges exemplify the spirit of leadership and compassion that defines a true partner on the world stage. The speaker expressed his hope that we will reaffirm our commitment to working hand in hand towards a brighter, more inclusive future for both of our countries, and that together we can forge paths of progress, equity, and sustainability that leave a lasting impact on generations to come. He then expressed his wish for our partnership to continue to flourish, nurturing a legacy of friendship for both Taiwan and Saint Lucia.
    Also in attendance at the meeting was Saint Lucia Senator Embert Charles. The delegation was accompanied to the Presidential Office by Saint Lucia Ambassador Robert Kennedy Lewis.

    MIL OSI Asia Pacific News

  • MIL-OSI: Greenbacker broadens fundraising capabilities with new senior business development hires

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) — Greenbacker Capital Management (“GCM” and, together with its affiliates, “Greenbacker”), an energy transition-focused investment manager, is pleased to announce that it has expanded its distribution and fundraising capabilities, particularly in markets where Greenbacker is seeing increasing investor demand for sustainable investments. As senior members of the business development team, Adam Evans, CAIA, CIMA and John Hennessey broaden Greenbacker’s ability to offer individual and institutional investors the opportunity—across all distribution channels—to participate in the energy transition.

    “With Greenbacker’s evolving set of strategies, the timing couldn’t be better to add these two individuals, and their wealth of experience, to the distribution side of our business,” said Brandon Praznik, Greenbacker’s Executive Vice President of Business Development. “The strategic additions of Adam and John bolster our capital raising efforts as Greenbacker seeks to execute on its growth targets and capitalize on the energy transition opportunity set for our investors.”

    Evans is an industry veteran with over 20 years of experience distributing financial services products to institutional and retail investors. As a senior vice president on Greenbacker’s business development team, he is responsible for the distribution of company strategies through all distribution channels in the Central US. Prior to Greenbacker, Evans served as a director within the financial institutions group at Lazard Asset Management, before which he held the role of business development director at Cushing Asset Management. In both roles, Evans was responsible for distributing firm strategies to the registered investment advisor (“RIA”), bank trust, and family office channels, including securing investment in new strategies.

    Hennessey is a seasoned business development professional, bringing to Greenbacker 15 years of experience marketing and distributing investment strategies to the RIA, family office, and institutional channels. As a vice president on Greenbacker’s business development team, he is responsible for the distribution of company strategies through all channels, with a focus on the Southeastern US. Previously in his career, Hennessey served as a director at Chicago Atlantic Group and a vice president at Merit Hill Capital; at both firms, he was responsible for business development, covering the RIA, family office, and institutional channels.

    The two join the company during a period of expansion and transformation for Greenbacker. Greenbacker’s latest quarterly results highlight substantial year-over-year growth in revenue and clean power production, as well as a 30% increase in fee-earning AUM,1 bringing the total to $762 million. As of the end of the second quarter, the company’s aggregate AUM2 had reached $3.7 billion.

    Greenbacker also recently expanded its investments team following the launch of GCM’s fourth sustainability-driven investment strategy, focused on Energy Transition Real Estate. Earlier this year, Greenbacker announced it added three new members to its leadership team, including a new Chief Financial Officer and the newly created Head of Infrastructure and Head of Capital Markets positions. Late last year, the company expanded its private equity investment team, adding a managing director to its Greenbacker Development Opportunities (“GDEV”) strategy, which invests in growth-stage sustainable infrastructure development platforms.

    GCM serves as the SEC-registered investment manager to four energy transition-focused investment strategies. Greenbacker remains committed to empowering a sustainable future by putting investor capital to work in the energy transition asset class. As of June 30, 2024, Greenbacker’s fleet of clean energy projects has produced over 10.7 million MWh of clean power3 since 2016, abating nearly 7.5 million metric tons of carbon4 and conserving approximately 7.4 billion gallons of water,5 compared to the amount of water needed to produce the same amount of power by burning coal.

    About Greenbacker Capital Management
    Greenbacker Capital Management LLC is an SEC-registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit https://greenbackercapital.com.

    About Greenbacker Renewable Energy Company
    Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that both acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms, and provides investment management services to other renewable energy investment vehicles. We seek to acquire and operate high-quality projects that sell clean power under long-term contracts to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. Greenbacker conducts its investment management business through its wholly owned subsidiary, Greenbacker Capital Management, LLC, an SEC-registered investment adviser. We believe our focus on power production and asset management creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit https://greenbackercapital.com.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update and forward-looking statement contained herein to conform to actual results or changes in its expectations.

    Greenbacker media contact
    Chris Larson
    Media Communications
    646.569.9532
    c.larson@greenbackercapital.com


    1 Fee-earning AUM represents the asset base upon which management fee revenue is earned from GCM’s managed funds. The financial and portfolio metrics set forth herein are unaudited and subject to change.
    2 Aggregate AUM includes GREC and GCM’s managed funds. AUM represents the underlying fair value of investments, determined generally in accordance with ASC 820, cash and cash equivalents and project level debt. These figures are unaudited and subject to change.
    3 As of June 30, 2024.
    4 As of June 30, 2024. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.
    5 As of June 30, 2024. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.

    The MIL Network

  • MIL-OSI: YieldMax™ Launches Option Income Strategy ETF on Palantir Technologies (PLTR)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of the following ETF:

    YieldMax™ PLTR Option Income Strategy ETF (NYSE Arca: PLTY)

    PLTY seeks to generate current income by pursuing options-based strategies on Palantir Technologies Inc. (“PLTR”). PLTY is actively managed by ZEGA Financial. PLTY does not invest directly in PLTR.

    PLTY is the newest member of the YieldMax™ ETF family and like all YieldMax™ ETFs, aims to deliver current income to investors. With respect to distributions, PLTY will be a Group B ETF and its first distribution is expected to be announced on November 6, 2024. Please see table below for distribution and yield information for all outstanding YieldMax™ ETFs.

    ETF
    Ticker
    1
    ETF Name Reference
    Asset
    Distribution
    Rate
    2,4,5
    30-Day
    SEC Yield
    3
    TSLY YieldMax™ TSLA Option Income Strategy ETF TSLA 115.53% 3.09%
    OARK YieldMax™ Innovation Option Income Strategy ETF ARKK 53.47% 3.37%
    APLY YieldMax™ AAPL Option Income Strategy ETF AAPL 31.19% 3.17%
    NVDY YieldMax™ NVDA Option Income Strategy ETF NVDA 65.43% 3.24%
    AMZY YieldMax™ AMZN Option Income Strategy ETF AMZN 41.70% 3.27%
    FBY YieldMax™ META Option Income Strategy ETF META 31.65% 3.22%
    GOOY YieldMax™ GOOGL Option Income Strategy ETF GOOGL 22.22% 3.28%
    NFLY YieldMax™ NFLX Option Income Strategy ETF NFLX 36.06% 3.45%
    CONY YieldMax™ COIN Option Income Strategy ETF COIN 97.94% 3.70%
    MSFO YieldMax™ MSFT Option Income Strategy ETF MSFT 27.17% 3.33%
    DISO YieldMax™ DIS Option Income Strategy ETF DIS 35.17% 3.41%
    XOMO YieldMax™ XOM Option Income Strategy ETF XOM 18.73% 3.32%
    JPMO YieldMax™ JPM Option Income Strategy ETF JPM 34.76% 3.60%
    AMDY YieldMax™ AMD Option Income Strategy ETF AMD 73.41% 3.24%
    PYPY YieldMax™ PYPL Option Income Strategy ETF PYPL 102.97% 2.94%
    SQY YieldMax™ SQ Option Income Strategy ETF SQ 86.71% 3.44%
    MRNY YieldMax™ MRNA Option Income Strategy ETF MRNA 71.92% 3.91%
    AIYY YieldMax™ AI Option Income Strategy ETF AI 47.26% 3.76%
    MSTY YieldMax™ MSTR Option Income Strategy ETF MSTR 81.35% 0.00%
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Bitcoin ETP 87.09% 4.07%
    CRSH YieldMax™ Short TSLA Option Income Strategy ETF TSLA 101.44% 3.61%
    GDXY YieldMax™ Gold Miners Option Income Strategy ETF GDX® 40.15% 3.27%
    SNOY YieldMax™ SNOW Option Income Strategy ETF SNOW 40.64% 3.44%
    ABNY YieldMax™ ABNB Option Income Strategy ETF ABNB 33.60% 2.84%
    FIAT YieldMax™ Short COIN Option Income Strategy ETF COIN 110.90% 3.22%
    DIPS YieldMax™ Short NVDA Option Income Strategy ETF NVDA 87.48% 3.69%
    BABO YieldMax™ BABA Option Income Strategy ETF BABA 33.24% 2.62%
    YQQQ YieldMax™ Short N100 Option Income Strategy ETF NDX® 26.88% 3.63%
    TSMY YieldMax™ TSM Option Income Strategy ETF TSM 23.98% 3.48%
    SMCY* YieldMax™ SMCI Option Income Strategy ETF SMCI
    YMAX YieldMax™ Universe Fund of Option Income ETFs Multiple 61.63% 62.93%
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Multiple 45.17% 50.85%
    ULTY YieldMax™ Ultra Option Income Strategy ETF Multiple 113.94% 0.00%


    The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

    Note: CRSH, FIAT, DIPS and YQQQ are hereinafter referred to as the “Short ETFs” and “ADR” stands for American Depositary Receipt.

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from month to month and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    * The inception date for SMCY is September 11, 2024.

    1. All YieldMax™ ETFs shown in the table above (except YMAX, YMAG and ULTY) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.
    2. The Distribution Rate shown is as of close on October 7, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying such distribution by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3. The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30, 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period. As of such date, the ULTY subsidized and unsubsidized 30-Day SEC Yields were 0.00% and 0.00%, respectively. The subsidized yield reflects fee waivers in effect while the unsubsidized yield does not adjust for any fee waivers in effect.
    4. Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5. As of the date hereof, distributions for the following ETFs have included return of investor capital: TSLY, OARK, APLY, AMZY, NVDY, GOOY, JPMO, XOMO, PYPY, CONY, DISO, FBY, MSFO, NFLY, SQY, AMDY, MRNY, AIYY, MSTY, ULTY, YMAX, YMAG, YBIT, SNOY, CRSH and GDXY. For additional information, please visit http://www.YieldMaxETFs.com/TaxInfo.

    Standardized Performance

    For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For YMAX, click here. For YMAG, click here. For ULTY, click here.

    Prospectuses

    Click here.

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus. Please read the prospectuses carefully before you invest.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Contact Gavin Filmore at gfilmore@tidalfg.com for more information.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs and ZEGA Financial is their sub-adviser.

    THE FUND, TRUST, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERNCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX and YMAG generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer time periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given month. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer time periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given month. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given time period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    Holdings

    As of October 7, 2024, the YieldMax™ PLTR Option Income Strategy ETF did not hold any shares of Palantir Technologies Inc. (“PLTR”). As of such date, the holdings of PLTR in such fund were 0.00%.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs or ZEGA Financial.

    © 2024 YieldMax™ ETFs

    The MIL Network

  • MIL-OSI Europe: Hearings – Public hearing on “Simplification and Transparency” – 17-10-2024 – Subcommittee on Tax Matters

    Source: European Parliament

    On 17 October 2024, from 9:00 to 10:30, the FISC Subcommittee will host a public hearing on “Simplification and transparency: Role of simplified tax policy to encourage growth, job creation, competitiveness and cross-border business within the EU”.

    Over the past years, stakeholders have been raising more and more concerns about compliance costs and administrative burden. At the same time, the recent publication of two reports, one by Enrico Letta and one by Mario Draghi, have ignited a new debate on how to improve the competitiveness of the EU’s economy in the aftermath of the COVID-pandemic and the economic hardships caused by the war in Ukraine.

    Against this background, this public hearing will gather information and discuss in which ways reducing both taxpayers’ tax compliance and governmental administrative costs could foster cross-border business, increase competitiveness, and eventually lead to more job creation and economic growth.

    MIL OSI Europe News

  • MIL-OSI Europe: Highlights – Public hearing on “Simplification and Transparency” – Subcommittee on Tax Matters

    Source: European Parliament

    On 17 October 2024, from 9:00 to 10:30, the FISC Subcommittee will host a public hearing on “Simplification and transparency: Role of simplified tax policy to encourage growth, job creation, competitiveness and cross-border business within the EU”.

    Over the past years, stakeholders have been raising more and more concerns about compliance costs and administrative burden. At the same time, the recent publication of two reports, one by Enrico Letta and one by Mario Draghi, have ignited a new debate on how to improve the competitiveness of the EU’s economy in the aftermath of the COVID-pandemic and the economic hardships caused by the war in Ukraine.

    Against this background, this public hearing will gather information and discuss in which ways reducing both taxpayers’ tax compliance and governmental administrative costs could foster cross-border business, increase competitiveness, and eventually lead to more job creation and economic growth.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Maintenance work at Lake Trasimeno – E-001893/2024

    Source: European Parliament

    Question for written answer  E-001893/2024
    to the Commission
    Rule 144
    Valentina Palmisano (The Left), Dario Tamburrano (The Left), Carolina Morace (The Left)

    Lake Trasimeno, located within a national park and part of the Natura 2000 network, is an ecosystem of high environmental value and a mainstay of the region’s economy, especially the tourism sector.

    EU Directives 2009/147/EC (‘Birds’) and 92/43/EEC (‘Habitats’ on biodiversity), although they are intended to safeguard natural habitats, make it difficult to maintain the lake, particularly owing to the impossibility of working on the lakebed which is the nesting ground for some protected species.

    This threatens to aggravate the already critical condition of the lake, which, as the only reservoir in Italy fed exclusively by rainwater, is suffering from the scarcity of rainfall caused by climate change, thus making the situation even harder to manage.

    In the light of the above:

    • 1.How does the Commission intend to reconcile the protection of biodiversity with the need for maintenance work to preserve Lake Trasimeno’s ecological functions and value for the tourism sector?
    • 2.Does it intend to look into the possibility of introducing specific guidelines for essential maintenance work in ecologically sensitive situations while ensuring the protection of species protected under Directives 2009/147/EC and 92/43/EEC?
    • 3.What technical and financial support measures can the Commission propose to address this situation?

    Submitted: 1.10.2024

    Last updated: 8 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Taxation of donations of goods – E-001888/2024

    Source: European Parliament

    Question for written answer  E-001888/2024
    to the Commission
    Rule 144
    Moritz Körner (Renew)

    In Germany, donations of goods to recognised non-profit organisations are not exempt from VAT. It is thus makes better financial sense for companies to destroy fully functioning unsold products than to give them away.

    The obligation to pay VAT on donations of goods could be abolished in the following ways: donations of goods could be made exempt from VAT; they could remain subject to VAT, but the tax base could be set at zero; or the 0% VAT rate proposed by the Commission could be applied to socially beneficial transactions.

    • 1.Does the Commission believe it to be legally possible to introduce a tax exemption for donations of goods in Germany in accordance with EU law?
    • 2.If so, what specifically would need to be done in Germany to exempt them from VAT in accordance with EU law, and if not, what changes would be needed to EU law to enable tax exemptions for such donations?
    • 3.Does the Commission plan to make a proposal to this effect, and if so, when might this be expected, and if not, why not?

    Submitted: 1.10.2024

    Last updated: 8 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Connectivity of the Alpine passes: the consequences of prolonging the closure of the Frejus rail tunnel – E-001506/2024(ASW)

    Source: European Parliament

    1. The Commission acknowledges that the situation created by the landslide near La Praz and the ensuing closure of the Fréjus railway line in August 2023 is serious. Renovation works on the line will take some time due to their challenging nature. At this stage, the Commission has no evidence that not all is done to reopen the line as soon as possible.

    2. Coordination of trans-Alpine transport is already addressed by existing coordination structures, in particular the Zurich Process[1] and the EU strategy for the Alpine region (EUSALP)[2]. These structures should be used to the largest extent possible in situations such as the current interruption of the Fréjus rail line following the landslide in August 2023 to ensure that traffic can continue on the most efficient routes and that excessive detours are avoided.

    3. The EU does not have the financial programmes or resources to provide subsidies to operators in such cases. Funding from the Connecting Europe Facility is only available for financing of trans-European transport (TEN-T) infrastructure and cannot be used to provide a short-term relief to users of infrastructure that has suffered the damage. Concerning potential support from the European Regional Development Fund (ERDF), the agreement in place with the French authorities specifically exclude support to this kind of infrastructure and cannot be used to provide disaster-related damage.

    Where Member States concerned consider financial compensations from national resources, such financing would have to be in line with the applicable EU State aid rules.

    • [1] https://acrossthealps.org/
    • [2] https://alpine-region.eu/
    Last updated: 8 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Measures to protect European companies – E-001813/2024

    Source: European Parliament

    Question for written answer  E-001813/2024
    to the Commission
    Rule 144
    Ioan-Rareş Bogdan (PPE)

    Companies both in Romania and in the rest of Europe are feeling the economic impact of the sanctions the European Union has imposed on the Russian Federation.

    • 1.The Commission’s continued efforts to support European companies affected by the sanctions imposed on Russia are to be welcomed, but in circumstances where many firms in various sectors have been impacted by those sanctions, could the Commission clarify whether financial support measures and compensation for such companies already exist or are in the pipeline?
    • 2.Could the Commission provide further details on the types of financial aid available and on the procedure to follow to obtain that aid?
    • 3.Could the Commission also provide information on future initiatives that might be implemented to reduce the economic impact on the business activities of companies currently being affected?

    Submitted: 25.9.2024

    Last updated: 8 October 2024

    MIL OSI Europe News

  • MIL-OSI USA: Congressman García’s Statement on a Year After the October 7 Attacks

    Source: United States House of Representatives – Representative Jesús Chuy García (IL-04)

    CHICAGO — Congressman Jesús “Chuy” García (IL-04) issued the following statement a year after the Hamas’ attack on Israel:

    “One year ago, I strongly condemned Hamas’ attack on Israel, during which 1,200 civilians were killed and another 251 were taken hostage. As the horror of the attack sunk in, and as we mourned those killed and kidnapped, I feared for what would come next. I feared that Israel’s military response, supported materially, diplomatically, and financially by the United States, would only push peace farther away.

    “Since then, Israel’s bombing campaigns have killed more than 42,000 Palestinians and 2,000 Lebanese. The humanitarian catastrophe in Gaza grows by the day. A year in, Israel is not safer, many hostages are still being held by Hamas, and the Middle East is at an even more dangerous inflection point—on the precipice of a full-scale regional war.

    “So as I once again condemn the horrific attacks one year ago and call for the hostages’ safe return, I also reaffirm my belief that the path toward safety for Israelis, Palestinians, and Lebanese alike includes stopping the flow of unconditional weapons from the U.S. to Israel, and securing a permanent ceasefire in Gaza.” 

    # # #

    MIL OSI USA News

  • MIL-OSI Security: Gone To the Dogs at Naval Hospital Bremerton

    Source: United States Navy (Medical)

    Naval Hospital Bremerton staff didn’t really go to the dogs during National Dog Week.

    Many were already there.

    For the third consecutive year, nearly 50 dog-owners responded to a request to share an image of their canine companion(s) for the last week in September. The pictures were compiled into a visual digital display of 32 pages, ranging from lovable rescues to litter runts and many breeds in between.

    There were working breeds represented, such as bloodhounds Ellie Mae, 8-year old and 2-year old MJ, of Amy Salzsieder, Occupational Health registered nurse, who are actively involved with the Kitsap County K9 Search and Rescue and National Search Dogs Alliance. German Shepherd Harley belonging to Terry Lerma, NHB emergency preparedness manager, has officially retired from her K9 Search and Rescue days and is content to catch up on napping, tasting treats and ensuring their home has a ready bark-alert warning system.

    There’s Honey, a 9-year old Saluki mix which Cmdr. Laura Moody has had since 2019. She’s a former sled pulling dog from Oregon, while Aspen, a 7-year old Siberian Husky who Cmdr. Dean Kang rescued in Portland also in 2019, dislikes all delivery truck drivers.

    Under the notable announcement, ‘fur missiles inbound,’ Chief Hospital Corpsman Justin Brown, sharing images of his family canine companions.

    “Theodore is a 12-year old brown husky/lab mix. I’ve had him since he was five weeks. My first true love before I met my wife and had my kid,” explained Brown. “He was my running, hiking, truck, and gym buddy attached to my hip. Now old and has hip problems he hangs with mom, the one who feeds him, snuggles him, and is always around. Sampson “Sammy” is my Red Speckled Heeler mutt who’s 11-year old and found us during July 4 fireworks in 2013 when he was only a few months old. We were playing ball with Theo. He ran right up and started playing together. No one was looking for him, no one had reported him missing, and he had no ID tags or microchip. The shelter told us we can hold onto him for a couple weeks and if they don’t reach out with someone looking for him, we could keep him if we wanted. He adopted us and been spoiled ever since.”

    Rebecca Drew, medical coder, shared her three fur babies, Rylee, 12-yr old black lab, adopted at 8-week old, Zola, black lab/Great Pyrenees mix, 8-year old, adopted at six months, along with resident feline Maia, American short/long hair, 2-yrs old, adopted at 8-weeks who is readily accepted as part of the pack.

    Staff were also introduced to Mochi, a 2-year old Havanese belonging to financial technician Jinky Angel.

    “We adopted him when he was 10 weeks old in Goldsboro, North Carolina. He is originally from Yorktown, Virginia,” Angel said. “Mochi is a playful, sweet, and loving dog. He brings so much joy to our family. We relocated to Port Orchard last year and he loves Washington weather.”

    The Kelly Gann household features hounds of plenty, all adopted from a coonhound rescue, with Jester, a five-year old Treeing Walker Coonhound, Elly Mae, 6-year old Treeing Walker Coonhound, Shira, 10-year old Bluetick Coonhound. and Samantha, 11-yr old Treeing Walker Coonhound.

    Hospital Corpsman 2nd Class Cade Crenshaw showcased Winston, a two-year old Pembroke Welsh Corgi. “I’ve had Winston, affectionately referred to as ‘Winnie’ by many, since he was six months old. He loves playing fetch and running outside in the grass at the park,” shared Crenshaw.

    There were other submissions shared who were slightly less active, such as Violet, from Motta Sant’Anastasia, Sicily. According to Cmdr. Kevin Johnson, Navy Medicine Readiness Training Command Bremerton Detachment Puget Sound Naval Shipyard interim officer-in-charge, she is quite possibly the laziest dog in the Pacific Northwest, clocking an average daily combined sleep duration of 20 hours. Johnson also notes Violet openly protests walks by laying on her back in the middle of sidewalks or streets.

    Along with the personal connection with canines for many, the U.S. Navy has long had an affinity for dogs.

    Not only do dogs provide specialized services in the Navy such as explosive and narcotic detachments, they also provide security patrols from the routine to crucial operational missions.

    Dogs have also been haze-gray underway and not just as official mascots. Most notable has been Capt. Demo, a golden retriever/lab mix on USS Dwight D. Eisenhower (CVN 69) during their extended nine month deployment to the volatile waters of the Middle East, providing comfort, companionship and curative as only a canine can.

    Dog gone it, indeed.

    MIL Security OSI

  • MIL-OSI Australia: Labor’s reforms to boost financial market competition pave way for new provider

    Source: Australian Treasurer

    A new provider of clearing and settlement services has emerged following the passage of the Albanese Government’s new legislation to improve competition in financial markets, with news ASIC has approved a licence for a new player, FinClear.

    Labor’s reforms are making our economy and our financial system more competitive.

    Clearing and settlement services are critical to the functioning and stability of financial markets and our changes made it possible for more providers to emerge.

    The legislation which passed late last year created a framework for fair, transparent and non‑discriminatory access to market infrastructure for competitors, allowing them to offer their own clearing and settlement services, and that’s what’s happening.

    The licence provided by ASIC recently will underpin the operations of FinClear’s subsidiary FCX.

    By making our markets more modern, we will make our economy more productive, competitive and dynamic.

    Our reforms are all about ensuring we have a competitive financial system that works for consumers, businesses and investors – and that delivers for the Australian economy and the Australian people.

    Whether it’s our reforms to boost competition, our efforts to renew and renovate our economic institutions or our policies to modernise our financial system, the Albanese Government has a big and broad reform agenda designed to make our economy more prosperous and productive.

    The emergence of a new provider of clearing and settlement services is evidence that our economic plan is helping to make our economy more competitive and our financial system stronger.

    MIL OSI News

  • MIL-OSI Europe: Climate finance: Council approves conclusions ahead of COP29

    Source: Council of the European Union

    Today, the Council approved conclusions on climate finance ahead of the United Nations framework convention on climate change (UNFCCC) meeting in Baku, Azerbaijan, from 11- 22 November 2024 (COP 29). In its conclusions, the Council underlines its strong commitment to continue delivering on climate finance.

    MIL OSI Europe News

  • MIL-OSI USA: Camaraderie, Enthusiasm Punctuate Wolff New Venture Competition

    Source: US State of Connecticut

    A novel treatment for long-term pain management that could revolutionize post-operative care and eliminate the need for opioids for many, won the first-place, $30,000 grand prize at the Wolff New Venture Competition last week.

    Professors and esteemed UConn Health researchers Lakshmi Nair, Ph.D. and Yusuf Khan, Ph.D. say they were both surprised and thrilled that their startup, Soleia Biosciences, received the award. With the financial and business support they’ve received, they hope to advance the treatment that has been in development for 10 years.

    “This prize will really set the stage for everything else we need to do; without it we would have been stuck,’’ Khan says. “Now we can move forward with determining exactly what we need to do to show our product is both safe and effective, and get it into the hands of doctors so they can start treating patients as soon as possible.’’

    “Our job has always been to figure out how to solve medical problems that don’t have a good solution,’’ Khan says. “With the Wolff Prize, we are even closer to that reality.’’

    Competition Awarded $115,000 in Cash and Prizes

    The Wolff New Venture Competition is the School of Business’ pinnacle entrepreneurship challenge. The event on Tuesday night drew dozens of UConn entrepreneurs and their supporters to the Dunkin Park YG Club for a night of competition, camaraderie, networking, and socializing.

    This year marks the ninth anniversary of the Wolff event, which invites five outstanding UConn-affiliated startups to compete annually. Since its inception, the amount of the awards has risen from $15,000 to more than $$115,000 in cash and in-kind services.

    The five 2024 Wolff finalists have developed a diverse set of companies, from toys to e-commerce to a business-travel planning app. Preparation for the event begins in March when 10 startups are selected to participate in the Connecticut Center for Entrepreneurship & Innovation’s (CCEI) Summer Fellowship Accelerator, where they develop their businesses to become market ready.

    “This was by far the best Wolff New Venture Competition to date,’’ says Jennifer Mathieu, executive director of CCEI. “The room was packed with members of our entrepreneurial ecosystem including investors, community partners, dozens of CCEI’s entrepreneurs showcasing their startups, and many of our alumni just there to support.

    “There was an energy in the space; it was one of collaboration, community, and this level of overall excitement that everyone seemed to have about being there. I feel proud of what my team has accomplished in their support of the hundreds of startups that have participated in CCEI programs,’’ she says. “The five teams that pitched have made tremendous progress since working with CCEI. I can’t wait to see what impact they are going to have on the world.’’

    Medical Company Wins Grand Prize

    In addition to the grand prize, Soleia Biosciences also received the Legal Services Award valued at $10,000 and presented by Wiggin and Dana’s emerging companies division.

    The startup is on the cusp of a breakthrough pain-reduction treatment that can extend the duration of local anesthetics, enabling patients to be nearly pain-free and mobile. Nair says the $15 billion post-surgical pain management industry is ready for change.

    “Since opioid use can have such a negative impact on a person, it’s really critical to find non-addictive solutions for both short- and long-term pain,’’ Nair says. “This applies to everyone, young and old; nobody is exempt from these needs.  In younger people it may be part of recovering from a painful sports injury, and in older people more about managing something like osteoarthritis. Regardless of the age or disease, there is a critical need for opioid alternatives.’’

    The company already has patents and compelling pre-clinical data. The founders are looking to hire a consultant to help them begin the FDA approval process.

    Started by Two Car Enthusiasts, WheelPrice Earned Three Honors

    The $10,000 Second-Place Prize, sponsored by Santander Bank, went to WheelPrice, an online marketplace that facilitates the sales of new, used and vintage wheels. The company also won a ​$5,000 Audience Choice Award.
    sponsored by Fiondella Milone & Lasaracina (FML) and a $35,000 pro bono Digital Product Development Award from Revyrie.

    Co-founder Kyle Mayers ’13 (BUS) says the company has something for everyone. “We have wheels for every car from a Honda Civic to a Ferrari,” he says.

    Mayers and co-founder Wally Namane ’13 (BUS), ’18 MBA, both car enthusiasts, met as students through mutual friends at UConn. “We’ve had a life-long obsession with cars,’’ Mayers says.

    Today they hope to become the number one marketplace for the 67 million car enthusiasts in the U.S. Globally, consumers spend $5 billion on wheels annually. They believe their easy-to-use platform and some high-tech features, now in development, will put them in the industry’s drivers’ seat.

    Business-Travel App Took Third Place

    Since the onset of the pandemic, the number of fully remote companies has grown 400%. And although their employees may be on different coasts, Vamos founder Niko Zurita ’10 (BUS) believes every growing business requires face-to-face meetings between colleagues. He is developing an app to tailor meetings and locations to company needs, while also saving them money.

    Vamos received the $7,500 Third Place Prize sponsored by Prime Materials Recovery Inc., and a Digital Surgeons brand consulting award, valued at $10,000.

    Toy Dinosaurs, Natural Food Preservative Captivated Audience

    Lyla Andrick ’24 (CAHNR), created Happy Dinosaur, a company that sells brightly colored dinosaur stuffed animals, from her dorm room at UConn. The plush animals have become so popular that the New England boutiques that stock them can’t keep them on the shelves. As part of her presentation, she passed around a half-dozen dinosaurs, and members of the audience were delighted.

    Happy Dinosaur won a ​$5,000 Community Impact Award, sponsored by Baystate Financial, that will help Andrick create books about the main characters and create a format for children to share imaginative stories about them.

    Meanwhile Atlas, formerly Atlantic Sea Solutions, a company using seaweed extracts as a tasteless, texture-less coating to preserve the shelf-life of peaches, berries and other produce, won a $5,000 Innovation Award, sponsored by Mark and Jamie Summers. The company plans to use the winning to purchase more equipment.

    “What I love about my work and what motivates me is using science and technology to do cool things with food,’’ says co-founder Anuj Purohit, a research associate in the Department of Nutritional Sciences in the College of Agriculture, Health and Natural Resources. “The world population is growing, and we all need good, nutritious food. That’s what drew me to agriculture and what keeps me going.’’

    Experienced Entrepreneurs Say Their Companies are Thriving

    The event also welcomed more than 25 previous Wolff participants who have made great strides with their startups. They were eager to cheer on the next wave of entrepreneurs.

    Jake Winter ’22 (ENG), co-founder and CTO of PatentPlusAI, a company using AI to generate comprehensive patent search reports in less than 24 hours, says the startup has grown exponentially in four years.

    “We’re hustling,’’ says Winter, noting that their client base includes corporate giant IBM. If he could offer advice to the newer entrepreneurs, it would be to “get ridiculously familiar with your market, and once you understand your customer, test as soon as you can,’’ he says.

    For graduate student Amelia Martin, the year since her participation in the Wolff competition has been one of extraordinary growth.

    “A year ago, I didn’t know what to expect. I had the mindset of a student,’’ she says. “Now I think like a CEO.’’

    Her company, Mud Rat, an eco-friendly alternative to the standard Styrofoam surfboard core, has participated in two business accelerators, won a small grant, and is completing its first protype this month. She’s also added to her team. Martin advises those who follow in her footsteps to just keep going when the going is tough. “If you stick with it, you’ll hit all your goals eventually,’’ she says.

    In the last year, alumna Hayley Segar, founder of onewith, a direct-to-consumer swimwear and accessory company, has been featured in People and InStyle magazines. She now employs four manufacturers to make her swimwear and this year sold 50,000 units. She hasn’t lost touch with her roots; her mom still packs her orders.

    She tells the new entrepreneurs to avoid distraction. “They need to be focused and heads-down in the early stages of their company,’’ she says. “It’s exciting, there is a lot of sacrifice, but in the end, owning your own business is extremely satisfying.’’

    She credits UConn for setting her up for success. As she speaks with entrepreneurs who attended other colleges, none of them had the expert entrepreneurial support that UConn offered, Segar says.

    Judges Were Impressed by What They Heard

    Competition judge Luke Steinberger, COO at Revyrie, a company that helps build and scale companies and a sponsor of the event, says he was very impressed with all the presentations.

    “They were well prepared, and I loved the diversity of ideas,’’ he says. “The program exceeded my expectations. I’m very happy to be involved and will be back next year.’’

    Judge Adam Silverman, partner at law firm Wiggin and Dana, says he didn’t know exactly what to expect before the competition. “It was great to be a part of the competition. I was impressed by the quality of the companies, the focus of the founders, and the exciting use of technology,’’ he says.

    School of Business Dean John A. Elliott spoke about how entrepreneurship has grown in the 13 years he has been here.

    “We used to think entrepreneurship was something for juniors and seniors to explore but now we welcome many students who begin their companies as freshmen,’’ he says. “The excitement around entrepreneurship has grown rapidly.’’

    Elliott also thanked the Wolff family, including Greg Wolff who was in attendance, for starting the competition and advocating for entrepreneurship at UConn. Elliott says their influence helped create additional competitions and great support for startups at UConn.

    Alycia Chrosniak, Assistant Director of Brand & Venture Development at CCEI, says working with the startups and watching them grow has been rewarding.

    “But my favorite part will be three months from now when I get the emails about what these new companies and their founders have accomplished,’’ she says. “What we do here is life changing.’’

    MIL OSI USA News

  • MIL-OSI United Kingdom: Young people to be given a helping hand on the creative industries ladder

    Source: City of Liverpool

    Budding young actors, musicians, photographers, fashion designers and film directors from across Liverpool are being invited to sign up to a creative programme that could give them a head-start in their chosen career.

    Commissioned by Liverpool City Council’s Culture Liverpool team as part of its Creative Neighbourhoods programme and funded through the UK Shared Prosperity Fund, Future Movement is delivered by leading British dance company Rambert.

    The free creative youth programme, aimed at those aged 16-25, is unique because it is co-created with the young people, designed around their career ambitions.

    Throughout the 12-week programme, Rambert invites guest artists from a wide range of creative industries to share their skills, experience and career paths with the participants, who will benefit from dedicated sessions focusing on different areas of work such as producing and marketing.

    The initiative was piloted in Liverpool last year following its success in London, Rochdale and Mansfield and it gave young people the chance to collaborate with like-minded creatives across the country.

    During the programme, the students had the opportunity to work with and be mentored by industry experts including Merseyside born designer Patrick McDowell and film director Dan Löwenstein of House of Create.

    The students also collaborated with set and costume designer Olivia Du Monceau to design and make a protest banner. Researching art and activism, the group used different mediums of creativity, such as sewing and drawing to create a joyful banner of self-expression.

    The programme culminated in an exhibition of the students’ work at the press night of Peaky Blinders: The Redemption of Thomas Shelby at the Liverpool Empire earlier this month. Here, they not only had the opportunity to showcase their work but also to network with industry insiders including the producers of Peaky Blinders, which was filmed in Liverpool, and the Chief Executive of Arts Council England.

    The new term starts on October 8 and the group meet every Tuesday from 6.30pm-8.30pm at Toxteth Library, Windsor St, Liverpool, L8 1XF. Sign-up here.

    Liverpool City Council’s Cabinet Member for Health, Wellbeing and Culture, Councillor Harry Doyle said: “Full of BAFTA-winning productions and Oscar-winning talent, Liverpool has a vibrant, fast-growing creative sector, which plays a significant role in contributing to the local economy. So it’s only right that we invest in the next generation of creatives.

    “We’ve never been short of pioneers in Liverpool and while the city attracts world-class talent, it’s vital that we invest in home-grown talent and help our young people achieve their potential. Seeing the work that the young people have produced has blown me away – truly inspiring.”

    Daniel Fulvio, Deputy Director of Audiences and Rambert’s lead on Future Movement says: Future Movement is designed to inspire and support anyone who is interested in starting a career in the creative industries. It aims to fuel young minds whilst giving them opportunities to try things out in an environment where they are supported to push themselves to build new skills and explore a range of creative jobs.

    “Liverpool is a beacon of creativity in the UK. Not only is it the birthplace of Hollywood stars and award-winning directors and producers but it is the second most filmed UK city outside of London and a UNESCO City of Music. Future Movement is a youth programme that takes young people seriously as the next generation of creatives and where better to nurture talent than here.”

    Patrick McDowell, Fashion Designer collaborating with Rambert on Future Movement says: “Working with Future Movement has been enriching and fulfilling on both a creative and a personal level. It has been a joy to have had this opportunity to return to my hometown to work with young people from the area, who have opened my eyes to different ideas.

    “Growing up, I was inspired by Liverpool’s style and how powerful and strong clothing seemed to make people feel. My working-class background and queer identity allowed me to see things through a certain lens, working with what I had to create something special. That ethos has remained with me to this day and it has been such a joy to mentor this pioneering project to inspire the next generation of creatives.”

    Kieran Gregory, a 19-year-old actor who took part in the pilot said: “Future Movement is boss. I’m an actor but as part of the programme, we designed a costume for one of the Rambert dancers. I’ve had no previous experience of contemporary dance before so it’s great to have new skills to put on my CV. We’re exposed to so many different people, learning about their journeys into the world of creative arts.

    “Rambert have been so good at letting us use our brains. We’ve gone to them and said ‘we’ve got this idea, can you make it happen?’ And they’ve said ‘yes, we’ll back you to the hilt.’ Whatever stimulus they give us, we’ll put our Scouse twist on it. I love representing Liverpool because people outside the city don’t properly understand. Over the last couple of years, things like Eurovision have been fantastic for the community so why not showcase it? Rambert and Culture Liverpool have put their faith in us and given us that opportunity and confidence.”

    MIL OSI United Kingdom

  • MIL-OSI Russia: Dmitry Patrushev: The state of the waste management sphere is an indicator of careful attention to the environment and a significant component of the comfort of life of citizens

    MILES AXLE Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Previous news Next news

    Dmitry Patrushev at the fourth Russian Ecological Forum. With the CEO of the Russian Ecological Operator company Denis Butsaev

    Deputy Prime Minister Dmitry Patrushev announced this at the fourth Russian Environmental Forum. The event was attended by representatives of federal authorities and regulatory agencies, industry and public organizations, and the business community.

    As noted, a corresponding reform has been implemented in Russia since 2019 to create rational approaches to waste management. With its start, the Russian Environmental Operator (REO) was created for the comprehensive coordination of processes. Over the past five years, it has become the main tool for the development of the industry. Today, the entire waste management cycle is the responsibility of 184 regional operators. About 50 million tons of MSW pass through them annually.

    “Over the past period, more than 250 facilities for waste processing, recycling and storage have been built. A significant step was ensuring waste sorting. Since 2019, its volumes have increased almost fivefold. A lot of work was simultaneously carried out in the field of regulatory control. Thus, the concepts of secondary resources and recyclable materials were legislatively established, and requirements for their handling appeared. A new procedure for determining the standards for the accumulation of solid municipal waste was also approved, on which the creation of infrastructure and the calculation of tariffs depend,” the Deputy Prime Minister said.

    As noted, since January of this year, changes to the extended producer responsibility mechanism have come into force, which provide for the obligation of packaging manufacturers to dispose of it in full. Also in 2024, a law was adopted to solve the problem of medical waste. The least hazardous categories will be sent for processing and disposal along with other types of MSW, which will reduce the volume of landfill disposal.

    At the same time, the Deputy Prime Minister also drew attention to the difficulties that still need to be addressed. “There are still questions about the quality of regional operators’ work. There are problems with financial stability, payment collection, and a shortage of equipment and containers. All of this ultimately leads to the fact that people can still see uncollected garbage in their yards. And no reporting indicators can cover this. There are regions where the reform is clearly stalling. In order to solve this problem, in a command mode at the level of the entire country, we are working together to sort out the situation in the regions,” said Dmitry Patrushev.

    The Deputy Prime Minister also recalled that the tasks for further development of the waste management sphere are outlined in the Presidential Decree on National Development Goals. By 2030, it is necessary to ensure complete sorting of MSW, reduce its landfill disposal by half, and involve at least a quarter of the volume in secondary circulation. Taking into account the existing capacities, in order to achieve the designated targets, it is necessary to double waste processing and reduce its disposal to landfills by 30% in six years.

    According to the Deputy Prime Minister, the creation of the relevant infrastructure will continue within the framework of the new national project “Environmental Well-Being”. “The events, as you know, are included in the federal project “Closed Cycle Economy”. And I want to emphasize that the initiative should come first and foremost from the regions and businesses. The government, for its part, will help in the implementation of the projects,” said Dmitry Patrushev.

    Speaking about government support measures in this area, the Deputy Prime Minister reported that over three years, 15 projects worth almost 40 billion rubles have been financed through the REO alone. In addition, the entities have concluded 65 concession agreements to create solid municipal waste management facilities with an investment volume of over 170 billion rubles.

    According to Dmitry Patrushev, the implementation of these support mechanisms will continue. At the same time, it is important that entities, especially those with insufficient reform implementation rates, actively engage in the work and find reliable investors.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://government.ru/nevs/52935/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Over 900 applications approved so far in the Electric Vehicle Purchase Incentive08 October 2024 Following the quick and successful uptake of the Electric Vehicle Purchase Incentive (EVPI), it is expected that the scheme will close before the end of this year. Over 900 applications have been received… Read more

    Source: Channel Islands – Jersey

    08 October 2024

    Following the quick and successful uptake of the Electric Vehicle Purchase Incentive (EVPI), it is expected that the scheme will close before the end of this year. 

    Over 900 applications have been received and approved, since the incentive scheme launched in August 2023. The remaining funds will be administered on a first come, first served basis. There are currently no plans to re-run the scheme once it has closed. 

    The Government of Jersey has worked closely with vehicle retailers to encourage Islanders to make the switch away from petrol and diesel modes of transport.  Vehicle retailers wishing to join the scheme can no longer apply at this stage. 

    Funding for the scheme was allocated through the Carbon Neutral Roadmap, with an aim to reduce Jersey’s road transport emissions. 

    The Electric Vehicle Charger Incentive, which awards £350 towards the cost of an electric vehicle smart charger, will still be available for Islanders, and will not close at the same time as the EVPI.  A separate scheme, supporting businesses with the purchase of second-hand electric vans will also continue to run until all 25 incentives have been allocated.   

    Minister for the Environment, Deputy Steve Luce, said: “I am pleased that demand for electric vehicles has been so positive. Since the scheme launched last summer, we have received more than 900 applications, meaning many Islanders have received a grant up to the value of £3,500 towards the purchase of a new or used electric vehicle. My thanks must go to all our approved vehicle retailers for supporting the incentive from inception through to delivery.

    “Incentive applications are still being accepted, but due to the high level of demand, the funding available has almost all been allocated, so we expect the scheme will close before the end of this year. Islanders who are thinking about switching to electric and would like financial support from this scheme are encouraged to apply now before it’s too late.” 

    For more information about the EVPI, visit: http://www.gov.je/goelectric.

    See the press release for the incentive launch (2023) here,

    MIL OSI United Kingdom

  • MIL-OSI Europe: Energy rescue plan approved to finance EU-backed emergency heating and power projects for Ukraine ahead of winter season

    Source: European Investment Bank

    • EIB President Nadia Calviño presented the Ukraine Energy Rescue Plan to EU finance ministers at their meeting in Luxembourg today.
    • The plan foresees up to €600 million in EU-backed financing for critical energy projects in the public and private sectors to meet urgent heating and power needs of wartime Ukraine.
    • The rescue plan will also support new green energy initiatives, including for energy efficiency and renewable energy, to help rebuild Ukraine’s energy infrastructure and bring the country closer to the European Union.

    Today, European Investment Bank President Nadia Calviño announced the Ukraine Energy Rescue Plan, an initiative to extend EU support for Ukraine’s heavily damaged energy infrastructure due to Russia’s ongoing war, ahead of the winter season, aimed at supporting the resilience of the country and its people. 

    Briefing EU finance ministers in Luxembourg today, President Calviño outlined that as part of the plan, the EIB expects to invest up to €600 million in financing for emergency energy projects across the public and private sectors. This funding will be guaranteed under the European Union’s Ukraine Facility and in part supported by the EIB’s EU for Ukraine Fund and Advisory Programme. It will help restore and strengthen Ukraine’s energy infrastructure while also aligning it with EU standards, further advancing the country’s integration into the European Union.

    Initially the emphasis will be on making finance available for projects that generate electricity and heat using equipment which can be quickly set up to meet the urgent needs of households and businesses. The plan focuses also on projects to protect key electricity substations with shelters. It aims to urgently restore electricity and heating to prevent disruptions to critical services such as hospitals, schools and water supplies, ensuring uninterrupted operations for households, businesses and public services.

    Furthermore, part of the plan also refers to more medium-term measures aimed at making the Ukraine energy sector more sustainable and resilient. It aims to improve energy efficiency in both the industrial and residential sectors, reducing energy consumption and promoting long-term resilience.

    The plan will also extend the EIB’s ongoing recovery and municipal framework programmes, to include energy-related initiatives. It is closely aligned with the priorities of the Ukrainian government and follows discussions with Ukraine’s Ministry of Finance.

    EIB Group President Nadia Calviño said: “The Ukraine Energy Rescue Plan is a crucial measure to ensure that millions of Ukrainian citizens and businesses have the electricity and heat they urgently need to face the coming winter. We aim to invest up to €600 million, leveraging the European Union’s Ukraine Facility and the contributions of our shareholders, the EU member states. The EIB is also strengthening Ukraine’s energy infrastructure for the future. Together with our EU partners, our support is unwavering, working hand-in-hand with Ukraine in this critical phase and for the better times ahead.”

    “While addressing Ukraine’s immediate energy needs, the plan also invests in the country’s green transition through energy efficiency and renewable projects. This will not only help Ukraine recover but also accelerate its path to a sustainable energy future and deeper integration with the European Union, aligning the country with EU standards for a stronger, shared future,” added EIB Vice-President Teresa Czerwińska, who is in charge of the Bank’s operations in Ukraine and will present the rescue plan to the Steering Committee of the Ukraine Donor Platform this week in Rome.

    Ukraine’s Minister of Finance Sergii Marchenko said: “I am grateful to the EIB for recognising Ukraine’s urgent energy needs and for the swift decision that has been taken. Russia’s relentless attacks on our energy infrastructure place immense pressure on our country. The EIB’s plan to support Ukraine’s energy sector is yet another crucial form of assistance for us in restoring power and heating to essential services like hospitals and schools. This will ensure that our people have access to the energy they need to withstand the potential challenges ahead.”

    European Commission Executive Vice-President for an Economy that Works for People Valdis Dombrovskis said: “This financing from the EIB, also backed by the EU budget, comes at just the right moment to allow Ukraine’s authorities to restore power and heating for basic services like hospitals and schools, while guarding against further supply disruptions given Russia’s brutal attacks on its energy infrastructure. It will help Ukraine to prepare for the winter season, make its energy network more reliable and resilient, and improve its sustainable energy efficiency as the country aligns with EU standards on its way to eventual accession. The European Union remains committed to supporting Ukraine and its people.”

    Background information

    The Ukraine Facility is the European Union’s financial assistance programme for Ukraine. During the 2024-2027 period, €50 billion will be allocated by the European Union to finance the state budget, stimulate investment and provide technical support in the implementation of the programme.

    The EU for Ukraine Fund (EU4U) was established in 2023 as part of a larger EU for Ukraine initiative. The fund aims to accelerate EIB Global’s support for Ukraine’s most urgent infrastructure needs and to help sustain the country’s economy. It supports critical recovery and reconstruction projects involving both the public and the private sector and improves access to finance for entrepreneurs in Ukraine. To date, the fund has secured over €420 million in pledges from the Member States.

    MIL OSI Europe News

  • MIL-Evening Report: From mass deportations to huge tariff hikes, here’s what Trump’s economic program would do the US and to Australia

    Source: The Conversation (Au and NZ) – By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

    Prashantrajsingh/Shutterstock

    It’s time to take Donald Trump seriously. Betting markets say it’s as likely as not he will be elected US president four weeks from today.

    And unlike in 2016 when his program wasn’t clearly defined, he has set out plainly what he intends to do. Which means it’s possible to model the consequences.

    The three Trump promises with the greatest economic impact are

    • the deportation of millions of US residents

    • steep restrictions on imports, especially from China

    • presidential influence over interest rates.

    The best way to model the consequences is with an established model of the kind used by the International Monetary Fund and central banks around the world rather than one set up for the purpose that could be seen as designed to favour or not favour Trump.

    The Washington-based Peterson Institute for International Economics has just done that, noting that during Trump’s first term as president he “by and large” did what he said he would do.

    It finds

    ironically, despite his ‘make the foreigners pay rhetoric’, Trump’s package of policies does more damage to the US economy than to any other in the world.

    No other country in the world would be hurt by Trump’s program as much as the US – not even China – although several US allies would suffer, including Australia, which would be the fourth-worst hit by the most extreme version of what Trump is proposing.

    Peterson Institute for International Economics.

    Mass deportations

    Trump has repeatedly promised the “largest domestic deportation operation in American history,” targeting up to 20 million unauthorised immigrants, including about 8.3 million thought to be in the workforce.

    He says his model is Operation Wetback – a 1956 Eisenhower administration program that used military-style tactics to deport 1.3 million Mexicans.

    The institute says Eisenhower’s success makes it easy to believe Trump could remove 1.3 million immigrant workers. It has modelled two scenarios: removing 1.3 million and 8.3 million, both over two years in 2025 and 2026.

    Both slash employment, including the employment of non-immigrants, both push up inflation, which eventually is brought under control, and both make the US a less attractive place to invest, which benefits much of the rest of the world.

    The institute says the low and high scenarios differ “only by the degree of damage inflicted on people, households, firms, and the overall economy”.

    Huge tariff hikes

    Trump wants to increase every tariff on goods imported to the US by 10 percentage points, including where there is at present no tariff. And he wants at least a 60% tariff on imports from China. The institute has modelled both, with and without retaliatory tariffs from China and the rest of the world.

    It finds, unsurprisingly, that extra tariffs push up the price of US imports and the prices of US-produced goods that compete with imports. Many are used as inputs in manufacturing, which means US manufacturing suffers (which is probably not what Trump had in mind).

    Fewer imports mean less demand for foreign exchange within the US, which means a higher US dollar which makes US exports less competitive. The US economy is weaker as a result, although China’s is weaker still and Australia’s is weakened as much as the US given its role in providing resources to China.

    Nobbling the Fed

    Trump has raised the prospect of more presidential influence over interest rates, saying he thinks he has “a better instinct than, in many cases” the board of US Federal Reserve. This could be achieved by requiring the president to be consulted on rate decisions or by appointing a compliant chair.

    However it’s done, the institute’s “conservative” assumption based on what happens in developing countries with less central bank independence is that it will push inflation two percentage points higher.

    The modelled result is capital flight. While the US economy is initially stronger than it would have been because of the Fed’s willingness to tolerate higher inflation, after a few years it is weaker and every other economy is stronger.

    When all the measures are combined, under the extreme scenarios the US economy is 6.7% weaker than it would have been by 2035 and Australia’s is 0.2% weaker. Under the more modest scenarios, the US economy is 1.6% weaker and Australia’s is 0.06% weaker.

    Why not examine Harris?

    Despite a history of non-partisanship, the Peterson Institute is prepared for criticism. It points out that the economic model it used is regarded as the best in the world for scenario planning and is Australian, built by Warwick McKibbin of the Australian National University.

    And it says it has modelled the Trump policies rather than the Harris policies because only Trump’s represent a departure from business as usual.

    As the Institute’s president Adam Posen put it in Washington last month, the Harris campaign has said it will not impose across-the-board tariffs, will not engage in mass deportations and will not interfere with the independence of the US Federal Reserve.

    The Trump campaign has indicated it will do all three.

    It’s entirely possible that in office Trump wouldn’t do everything he proposed while campaigning, and it’s entirely possible that he would change course if what was doing damaged the US in the way the modelling suggests.

    But there’s something to be said for taking people at their word, at least to get an idea of what we could be in store for after a knife-edge election.

    Peter Martin is Economics Editor of The Conversation.

    ref. From mass deportations to huge tariff hikes, here’s what Trump’s economic program would do the US and to Australia – https://theconversation.com/from-mass-deportations-to-huge-tariff-hikes-heres-what-trumps-economic-program-would-do-the-us-and-to-australia-240650

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Europe: Written question – The Campact case: foreign political interference circumventing the German Political Parties Act – E-001842/2024

    Source: European Parliament

    Question for written answer  E-001842/2024
    to the Commission
    Rule 144
    Tomasz Froelich (ESN)

    The action group ‘Ein Prozent’ (One Percent) has learned that ‘Campact’, a German campaign organisation made up of the association and foundation of the same name, donated more than EUR 232 000 to Alliance 90/The Greens, the SPD and the Brandenburg United Civic Movements/Free Voters in the context of the last state elections in Brandenburg, probably with a view to preventing the AfD from reaching a blocking minority[1].

    For years, Campact has been receiving funds from foreign organisations that use financial means to influence society in Europe. In 2022, multi-billionaire George Soros’ Open Society Foundations paid Campact EUR 268 837.87 for ‘democracy projects’. Under the German Political Parties Act, foreign organisations are not permitted to directly support German political parties. Campact and the aforementioned foreign organisations are circumventing this law.

    The Commission has recommended a ban on donations to political parties from organisations from non-EU countries. What is more, Member States are recommended to effectively address circumvention as found in the case described above.

    Does the Commission consider that the actions of Campact and the Open Society Foundations entail a breach of the German Political Parties Act and unlawful foreign political interference, in particular in light of its recommendation of 12 December 2023 (especially recitals 46 and 48 and point 28 thereof[2])?

    Submitted: 26.9.2024

    • [1] https://www.einprozent.de/blog/recherche/auslaendische-einflussnahme-campact-gegen-die-afd/3221
    • [2] https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202302829
    Last updated: 8 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Intercontinental knowledge transfer: South Africa improves e-waste management with support from Empa

    Source: Switzerland – Department of Foreign Affairs in English

    Dübendorf, St. Gallen und Thun, 08.10.2024 – In summer 2024, the South African government published a strategy paper on the management of e-waste, which was developed in collaboration with Empa. This is the first time the country has issued standardized guidelines for the proper and safe handling of e-waste. The collaboration is part of a program funded by the State Secretariat for Economic Affairs (SECO).

    Electronic waste can pose a considerable risk to people and the environment, as it often contains toxic substances such as the heavy metals mercury and cadmium. At the same time, discarded electrical and electronic devices are an important source of valuable materials, for instance copper and gold. Proper disposal and recycling of e-waste is therefore crucial – also for developing and newly industrialized countries, who can use it to safeguard their populations and strengthen their economies.

    With support from Empa, South Africa has now come a good deal closer to this goal. In June 2024, the South African Department of Forestry, Fisheries and Environment published, for the first time, a comprehensive e-waste management strategy. An important basis for this strategy was provided by the Sustainable Recycling Industries program (SRI, see text box), financed by the Swiss State Secretariat for Economic Affairs (SECO).

    Sustainable change

    As part of the SRI program, Empa and the World Resources Forum (WRF) are working with teams from several developing and newly industrialized countries, including South Africa, to improve the recycling of e-waste in these countries. The aim is both to create the necessary legal framework and to impart technical know-how. “Thanks to the collaboration with Empa and the WRF, our partner countries benefit from proven expert knowledge,” says Philipp Ischer, program manager at SECO. According to the expert, this has a very positive effect on the development of the legal foundations for recycling and the formulation of the relevant norms and standards.

    “One of our activities as part of the SRI program, for example, is the training of auditors who check the quality of e-waste handling processes at recycling companies,” says Manuele Capelli, a researcher in Empa’s Technology and Society laboratory, which manages the program together with the WRF. Members of the Critical Materials and Resource Efficiency (CARE) research group, which has a longs-standing experience in development cooperation, also carried out audits for the Swiss e-waste recycling industry until 2023.

    The expertise from small, prosperous Switzerland cannot, however, be transferred one-to-one to a large newly industrialized country like South Africa. “One of SRI’s goals is to promote sustainable change so that the activities continue even after the program ends,” emphasizes Capelli. Special attention is therefore paid to cooperation with local teams. “Our partners are in contact with the authorities and the industry in South Africa and are very familiar with the country-specific challenges in the area of electronic waste recycling.”

    Creating suitable conditions

    The recycling of batteries is one example of the e-waste management challenges particular to South Africa. The power grid in the country is unstable; hour-long power cuts have been a daily occurrence for years. “As the largest electricity producer in the region, South Africa has no easy way of importing electricity,” explains Capelli. For this reason, many wealthy households rely on their own solar system with battery storage, resulting in large quantities of used batteries over time. “Batteries are a particularly dangerous form of e-waste. They can cause fires if stored incorrectly and not properly monitored,” says Capelli. Thanks to their experience with the recycling and reuse of batteries, the Empa researchers were able to pass on useful know-how to their local partners.

    Otherwise, South Africa faces similar challenges in e-waste recycling as other newly industrialized countries, says Capelli: “The quantities of e-waste are increasing, but disposal and recycling are often inadequate or unsafe. With the new strategy paper, the country now has comprehensive and uniform guidelines for the first time in order to better overcome these challenges. “This is a major milestone and we are delighted to have been able to support South Africa in this,” he says.

    Sustainable Recycling Industries
    Sustainable Recycling Industries (SRI) is a program funded by the Swiss State Secretariat for Economic Affairs (SECO) and run by Empa and the World Resources Forum (WRF), an international non-profit organization that emerged from Empa. The aim of the program is to create favorable framework conditions for a sustainable recycling industry for e-waste and related waste streams in selected developing and emerging countries. The countries involved are Colombia, Egypt, Ghana, Peru and South Africa. SRI is currently in its second phase, which will run until 2025. Colombia and Peru have already successfully completed the program.

    http://www.sustainable-recycling.org


    Address for enquiries

    Manuele Capelli
    Technology and Society
    Phone +41 58 765 69 01
    manuele.capelli@empa.ch

    Mathias Schluep
    Managing Director, World Resources Forum
    Phone +41 71 554 09 06
    mathias.schluep@wrforum.org


    Publisher

    Federal Laboratory for Materials Testing and Research
    http://www.empa.ch

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: The Union Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal meets Rickshaw & Cart Pullers in Dibrugarh

    Source: Government of India (2)

    Posted On: 08 OCT 2024 1:50PM by PIB Delhi

    The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal spent time with the Shramik brothers, especially the rickshaw and cart pullers here today. The MP from Dibrugarh LSC interacted while also savoured Poori Sabji with the Shramik brothers here.

    Speaking on this occasion, Shri Sarbananda Sonowal said, “The objective of Narendra Modi govt is to empower, enable every person of the society with the help of Antodaya philosophy which ensures equal development with honour for everyone. Your hard work has always supported the local economy to run smoothly. It has been a privilege to meet all of you today on this beautiful autumn season of Durga Puja. I relished the opportunity to have Poori Sabji with our Shramik brothers as it replenished memories of my childhood.”

    ****

    JN/AK

    (Release ID: 2063101) Visitor Counter : 79

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