MILES AXLE Translation. Region: Russian Federation –
Source: Central Bank of Russia –
The Bank of Russia has decided to approve Basic standard protection of the rights and interests of recipients of financial services provided by members of self-regulatory organizations uniting insurance organizations and foreign insurance organizations.
The document was developed by the All-Russian Union of Insurers, a self-regulatory organization in the financial market, and on September 19, 2024, it was approved by the Committee on Standards for the Activities of Insurance Organizations and Foreign Insurance Organizations under the Bank of Russia.
At the same time, the Bank of Russia decided to refuse to approve the Basic Standard, which was agreed upon on August 21, 2024 by the Committee on Standards for the Activities of Insurance Organizations and Foreign Insurance Organizations. The decision was made due to the non-compliance of certain provisions of the standard with the requirements established by Article 6.2 of the Law of the Russian Federation dated November 27, 1992 No. 4015-I “On the Organization of Insurance Business in the Russian Federation”.
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.
Betting markets have them pretty much equal favourites. However, history shows grand finals don’t always go to plan.
But what are the biggest upsets in NRL grand final history?
Using a combination of formlines during the season and in finals, betting odds, media coverage and past performances, here are some of the most outlandish upsets in rugby league’s history.
1944: Balmain 12, Newtown 8
In 1944, Newtown was the minor premier while Balmain was second.
Newtown entered the finals series as hot favourite and looked even hotter after destroying third-placed St George 55–7 in the first semi-final.
However, in the final, Balmain won 19–6. That wasn’t the end of the story, though.
Under the rules of the day, Newtown, as minor premier, could seek a rematch in a grand final “challenge”.
Newton fielded a much stronger side and most expected it to reverse the final result. However, Balmain won again, 12–8.
1952: Western Suburbs 22, South Sydney 12
In 1952, Wests were minor premiers, while Souths finished third.
Souths won the first semi-final 18–10 but Wests, as minor premiers, went straight to the grand final challenge three weeks later anyway. Meanwhile, Souths beat North Sydney to advance.
According to the Sydney Truth, Wests were “regarded in some quarters as rank outsiders”.
Then, rumours spread that Wests had “thrown” the first game and the referee assigned to the decider, George Bishop, had placed £400 on them, causing their price to shorten.
Bishop sent off a player from each team ten minutes into the second half. Souths scored a try with 20 minutes to go to take the lead before Wests scored four tries in the last ten minutes to win.
Bishop retired after the grand final.
1963: St George 8, Western Suburbs 3
In 1963, St George was minor premiers, while Wests were second. However, Wests, which had lost the previous two grand finals to St George, had beaten them twice in the regular rounds and again in the major semi-final, and went into the game favourite.
On grand final day, the field deteriorated into a quagmire and led to the famous post-match “gladiators” photograph of captains Arthur Summons and Norm Provan shaking hands while coated in mud.
The foul conditions contributed to a low-scoring game, which St George won 8–3.
Once more it was suspected the referee, this time Darcy Lawler, had a financial interest in the outcome. He, too, retired immediately.
Today we view St George’s victory in the context of a huge winning streak of premierships from 1955 to 1966.
1989: Canberra 19, Balmain 14
South Sydney had been minor premiers while Balmain finished third, one point clear of Canberra.
Balmain were generally considered to have been more impressive than Canberra and were favourites for the grand final.
One media expert, Harry Craven, was so confident Balmain would win he had his “weatherboard” (house) on the Tigers.
In the grand final, Balmain led 14-8 with 15 minutes to play before Canberra levelled at 14–14 with 90 seconds remaining.
After 20 minutes of extra time, Canberra won 19–14 and became the first team to win from further back than third in the regular season.
1995: Canterbury 17, Manly 4
Possibly the hottest grand final favourites of the past half-century, Manly lost just two games in the regular season and shared the minor premiership with Canberra.
Canterbury (officially, the “Sydney Bulldogs” in 1995) were sixth and needed to win four straight games to be premier.
The two sides met once in the regular season, with Manly winning 26-0.
In the grand final, the Bulldogs led 6–4 at half-time and disaster loomed when Terry Lamb was sin-binned early in the second term.
Somehow, the Dogs held Manly out until his return, then gained the ascendancy and won comfortably.
1997: Newcastle 22, Manly 16
In 1997 we had the first season of the News Limited-funded “Super League”.
The glamourous Manly side was once more expected to be easy winners over Newcastle, which was contesting its first grand final.
Only two teams in 70 years had won at their first attempt, while Manly had won its past 11 matches against the Knights.
The grand final followed its anticipated plot until Newcastle’s Robbie O’Davis evened the score at 16–16. Newcastle missed with two field goal attempts, but after the second, Darren Albert regathered the ball and pierced the Manly defence to score under the posts with six seconds remaining.
In 1997, the Newcastle Knights secured a maiden title against the Manly Sea Eagles.
1999: Melbourne 20, St George Illawarra 18
Odds for the 1999 grand final are unknown but the press anointed St George “hot favourites” while Canterbury champion Ricky Stuart rated them “unbeatable”.
Melbourne was in just its second year of NRL competition and had never beaten St George.
Melbourne had pulled off “escapes” against Canterbury and Parramatta to make the decider but the Saints were winning with ease and even crushed Melbourne 34–10 in the qualifying final.
In the decider, St George led 14–0 and was looking good. Then, in the 51st minute, Anthony Mundine kicked the ball to a vacant try line but fumbled it touching down.
The Melbourne Storm shocked the NRL world when they won the 1999 grand final.
Nevertheless, St George maintained an 18–6 advantage midway through the second half, before a Storm fightback.
With minutes remaining, Melbourne received a penalty try which it converted to win the game.
The biggest upset: 1969, Balmain 11, South Sydney 2
Bookies had Souths as heavy favourites – they had won the previous two grand finals, while Balmain was a young team lacking grand final experience.
However, the form lines of the two teams were not dissimilar.
At the end of the regular season, South Sydney was the minor premier with Balmain just one win behind them.
Souths defeated Balmain by one point in the semi-final, and a week later, Balmain beat Manly by a point to scrape into the grand final.
Despite South’s heavy favouritism, Balmain were not friendless. Of six “experts” whose opinion was sought by one newspaper on the morning of the game, two picked Balmain outright and another conceded them an even-money chance.
It was perhaps the circumstances of the game, as much as the result, that has lent the 1969 grand final its legend status.
Souths, noted for their attacking potency, were unable to score a try. Balmain scored a single try early in the second half but then several Balmain players set about disrupting the Souths attack by, allegedly, feigning injuries to give their teammates a breather.
Wayne Peake does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Since ChatGPT was released at the end of 2022, there has been a lot of speculation about the actual and potential impact of generative AI on universities.
But there has been no large-scale research on how university staff in Australia are using AI in their work.
Our new study surveyed more than 3,000 academic and professional staff at Australian universities about how they are using generative AI.
Our study
Our survey was made up of 3,421 university staff, mostly from 17 universities around Australia.
It included academics, sessional academics (who are employed on a session-by-session basis) and professional staff. It also included adjunct staff (honorary academic positions) and senior staff in executive roles.
Academic staff represented a wide range of disciplines including health, education, natural and physical sciences, and society and culture. Professional staff worked in roles such as research support, student services and marketing.
The average age of respondents was 44.8 years and more than half the sample was female (60.5%).
The survey was open online for around eight weeks in 2024.
We surveyed academic and professional staff at universities around Australia. Panitan/Shutterstock
Most university staff are using AI
Overall, 71% of respondents said they had used generative AI for their university work.
Academic staff were more likely to use AI (75%) than professional staff (69%) or sessional staff (62%). Senior staff were the most likely to use AI (81%).
Among academic staff, those from information technology, engineering, and management and commerce were most likely to use AI. Those from agriculture and environmental studies, and natural and physical sciences, were least likely to use it.
Professional staff in business development, and learning and teaching support, were the most likely to report using AI. Those working in finance and procurement, and legal and compliance areas, were least likely to use AI.
Given how much publicity and debate there has been about AI in the past two years, the fact that nearly 30% of university staff had not used AI suggests adoption is still at an early stage.
What tools are staff using?
Survey respondents were asked which AI tools they had used in the previous year. They reported using 216 different AI tools, which was many more than we anticipated.
Around one-third of those using AI had only used one tool, and a further quarter had used two. A small number of staff (around 4%) had used ten tools or more.
General AI tools were by far the most frequently reported. For example, ChatGPT was used by 88% of AI users and Microsoft Copilot by 37%.
University staff are also commonly using AI tools with specific purposes such as image creation, coding and software development, and literature searching.
We also asked respondents how frequently they used AI for a range of university tasks. Literature searching, writing and summarising information were the most common, followed by course development, teaching methods and assessment.
We asked staff who had not yet used AI for work to explain their thinking. The most common reason they gave was AI was not useful or relevant to their work. For example, one professional staff member stated:
While I have explored a couple of chat tools (Chat GPT and CoPilot) with work-related questions, I’ve not needed to really apply these tools to my work yet […].
Others said they weren’t familiar with the technology, were uncertain about its use or didn’t have time to engage. As one academic told us plainly, “I don’t feel confident enough yet”.
Ethical objections to AI
Others raised ethical objections or viewed the technology as untrustworthy and unreliable. As one academic told us:
I consider generative AI to be a tool of plagiarism. The uses to date, especially in the creative industries […] have involved machine learning that uses the creative works of others without permission.
They also also raised about AI undermining human activities such as writing, critical thinking and creativity – which they saw as central to their professional identities. As one sessional academic said:
I want to think things through myself rather than trying to have a computer think for me […].
Another academic echoed:
I believe that writing and thinking is fundamental to the work we do. If we’re not doing that, then […] why do we need to exist as academics?
How should universities respond?
Universities are at a crucial juncture with generative AI. They face an uneven uptake of the technology by staff in different roles and divided opinions on how universities should respond.
These different views suggest universities need to have a balanced response to AI that addresses both the benefits and concerns around this technology.
Despite differing opinions in our survey, there was still agreement among respondents that universities need to develop clear, consistent policies and guidelines to help staff use AI. Staff also said it was crucial for universities to prioritise staff training and invest in secure AI tools.
Alicia Feldman receives an Australian Government Research Training Program Scholarship and Fee Offset.
Paula McDonald receives funding from the Australian Research Council.
Abby Cathcart and Stephen Hay do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Source: United States Senator for New York Charles E Schumer
U.S. Department Of Housing And Urban Development’s Lead-Based Paint Hazard Reduction Program Provides Federal Funding To Rid Homes And Communities Of Lead Hazards
Schumer Has Long Fought To Get The Lead Out Of NYS – Securing Millions In Fed $$ To Remove Lead Hazards From Homes – And Latest Investment Will Boost Efforts Even Further To Rid Homes Of Toxic Lead Paint
Schumer: Federal Funding To Remove Lead Hazards Is A Shot In The Arm To Protect Rockland’s Children And Public Health
U.S. Senate Majority Leader Chuck Schumer today announced $7,400,000 in federal funding for Rockland County from the U.S. Department of Housing and Urban Development’s (HUD) Lead-Based Paint Hazard Reduction Program. Schumer explained that the funding will be used to address lead-based paint hazards, improving the health of children and families across New York State.
“No amount of toxic lead exposure is safe for children in Rockland County. I am proud to secure $7.4 million to help Rockland County & the Village of Pomona remove lead paint from homes to protect our children and public health,” said Senator Schumer. “Lead poisoning is an irreversible, preventable tragedy that robs many families and children of their future. This major federal funding is the shot in the arm the Hudson Valley needs accelerate lead paint removal and prevention and protect the health and safety of families in Rockland County.”
This funding builds on years of efforts by Schumer to help address toxic lead exposure across Upstate NY. Schumer has long been a driving force in securing federal funding to reduce lead exposure in New York. In addition to fighting lead exposure in paint, Schumer has also led the charge to increase federal funding to eliminate lead service pipes for drinking water in New York. The senator secured one of the largest federal investments ever into eliminating lead service pipes in the Bipartisan Infrastructure Investment & Jobs Law, which includes a $15 billion carve-out within the Drinking Water State Revolving Fund (DWSRF) over 5 years ($3 billion every year) for lead service pipe replacement.
According to the National Institutes of Health (NIH), lead is much more harmful to children than adults because it can affect children’s developing nerves and brains. Lead-based paint, still encasing the walls of many homes, often erodes and settles on children’s toys on the floor, eventually falling into the hands and mouths of children. For children under the age of 6, lead exposure can result in developmental delays, learning difficulties, and behavioral issues, which may lead to lifelong health and financial consequences. Schumer has long advocated for protecting New York’s children and families in the past by securing millions of dollars in federal funding to eradicate these toxic elements from homes in order to reduce lead poisoning cases. Lead poisoning can cause developmental difficulties, physical pain, and neurological damage.
The purpose of the Lead-Based Paint Hazard Reduction Program is to identify and control lead-based paint hazards in eligible privately-owned housing for rental or owner-occupants. These grants are used to assist municipalities in carrying out lead hazard control activities.
Source: United States Senator for New York Charles E Schumer
Fed Lead-Based Paint Hazard Reduction Program Will Boost Albany, Schenectady, Onondaga, and Chautauqua County To Help Rid Homes And Communities Of Lead Hazards
Schumer Has Long Fought To Get The Lead Out Of Upstate NY – Securing Millions In Fed $$ To Remove Lead Hazards From Homes – And Latest Investment Will Boost Efforts Even Further To Rid Homes Across Upstate NY Of Toxic Lead Paint
Schumer: Fed $$$ Is A Shot In The Arm To Protect Upstate NY’s Children And Public Health
U.S. Senate Majority Leader Chuck Schumer announced $22,467,061 in federal funding for four cities from the U.S. Department of Housing and Urban Development’s (HUD) Lead-Based Paint Hazard Reduction Program. Schumer explained that the funding will be used to address lead-based paint hazards, improving the health of children and families across Upstate NY in Onondaga, Albany, Schenectady, and Chautauqua Counties.
“No amount of toxic lead exposure is safe for children in Upstate NY. Today I am proud to deliver $22+ million for communities from the Capital Region to Central NY to Western NY to remove lead paint from homes to protect our children and public health,” said Senator Schumer. “Lead poisoning is an irreversible, preventable tragedy that robs many families and children of their future. This major federal funding is the shot in the arm that these regions need to boost lead paint removal and prevention and protect the health and safety of families across Upstate NY.”
A full list of awards can be found below:
Organization Name
Community
County
Federal Funding
Albany Community Development Agency
Albany
Albany
$5,000,000.00
City of Schenectady
Schenectady
Schenectady
$3,967,061.00
Onondaga County Community Development
Syracuse
Onondaga
$7,750,000.00
Chautauqua County
Mayville
Chautauqua
$5,750,000.00
This funding builds on years of efforts by Schumer to help address toxic lead exposure across Upstate NY. Most recently in 2023, Schumer helped secure $6.3 million in federal funding for Broome County, nearly $4 million for Utica, and $3.3 million for Niagara County through the Lead-Based Paint Hazard Reduction Program to bolster ongoing efforts.
Schumer has long been a driving force in securing federal funding to reduce lead exposure in New York. In addition to fighting lead exposure in paint, Schumer has also led the charge to increase federal funding to eliminate lead service pipes for drinking water in New York. The senator secured one of the largest federal investments ever into eliminating lead service pipes in the Bipartisan Infrastructure Investment & Jobs Law, which includes a $15 billion carve-out within the Drinking Water State Revolving Fund (DWSRF) over 5 years ($3 billion every year) for lead service pipe replacement.
According to the National Institutes of Health (NIH), lead is much more harmful to children than adults because it can affect children’s developing nerves and brains. Lead-based paint, still encasing the walls of many homes, often erodes and settles on children’s toys on the floor, eventually falling into the hands and mouths of children. For children under the age of 6, lead exposure can result in developmental delays, learning difficulties, and behavioral issues, which may lead to lifelong health and financial consequences. Schumer has long advocated for protecting New York’s children and families in the past by securing millions of dollars in federal funding to eradicate these toxic elements from homes in order to reduce lead poisoning cases. Lead poisoning can cause developmental difficulties, physical pain, and neurological damage.
The purpose of the Lead-Based Paint Hazard Reduction Program is to identify and control lead-based paint hazards in eligible privately-owned housing for rental or owner-occupants. These grants are used to assist municipalities in carrying out lead hazard control activities.
Source: United States Senator Pete Ricketts (Nebraska)
October 3, 2024
WASHINGTON, D.C. – Recently, U.S. Senators Pete Ricketts (R-NE) and Bill Hagerty (R-TN) sent a letter to Treasury Secretary Janet Yellen and other Biden-Harris administration officials urging them to defend U.S. economic interests against the European Union regulatory encroachment.
The European Union (EU) recently adopted its Corporate Sustainability Due Diligence Directive (CSDDD), which forces U.S. businesses to comply with European policies, or face severe penalties. CSDDD’s implementation raises serious concerns, including extraterritorial regulatory overreach, adverse impacts on supply chains, litigation risks, and unfeasible climate transition requirements.
“The CSDDD’s extraterritorial scope amounts to a serious breach of U.S. sovereignty and a direct threat to the global competitiveness of American companies,” the members of Congress wrote. “We are deeply concerned that the [Biden-Harris] Administration is surrendering its regulatory responsibilities to European officials, allowing them to dictate draconian social and climate policies to American companies.”
“The EU is attempting to mitigate the relative damage of its onerous regulatory framework by forcing Americans to bear the burden as well,” the members of Congress continued. “Any policies impacting U.S. businesses should be debated and determined by the elected representatives of the American people, not overseas bureaucrats advancing their own agendas.”
In addition to Ricketts and Hagerty, the letter was co-signed by 64 other members of Congress.
Full text of the letter can be found here and below:
Secretary Yellen,
The European Union (EU) has long been known for implementing vague, broadly scoped, and complex regulations that hinder business growth and raise consumer costs. The EU’s longstanding regulatory overreach has had deleterious effects on its member states’ economies and diminished the competitiveness of their firms on the global stage. According to the International Monetary Fund, the Eurozone economy grew only 6% in the 15-year period ending in 2023, compared to 82% growth for the United States. European companies have been quick to identify overregulation as an impediment to growth; in one study, more than 60% of EU companies deemed regulation to be a barrier to investment, while 55% of small and medium-sized enterprises cited regulatory obstacles and administrative burdens as their greatest challenge.
Now, the EU is attempting to impose its debilitating regulatory agenda on American companies through its Corporate Sustainability Due Diligence Directive (also known as “CSDDD” or “CS3D”). Formally adopted by the Council of the EU on May 24, 2024, the CSDDD will impose significant legal obligations on U.S. businesses. The directive effectively converts the U.N. Guiding Principles on Business and Human Rights—and the provisions of three international human rights conventions, eight conventions of the International Labour Organization, eleven environmental law conventions, and the climate mitigation targets of the Paris Agreement—into binding laws. CSDDD will include governmental enforcement mechanisms, including the possibility of substantial monetary penalties, and will also create private rights of action for those adversely affected by violations. EU member states must implement regulations and administrative procedures required by the directive within two years. Many U.S. companies will be harmed by this enormous compliance burden. After EU member states incorporate the European Parliament’s broad legislation into their own national laws, the CSDDD will ultimately apply to U.S. multinational businesses with annual EU market revenue of more than €450 million, regardless of their corporate “footprint” in the EU. While the full effect of CSDDD may not be clear until the member states begin to transpose the regulations into their own laws and the EU provides additional guidance, it is clear that “in-scope” U.S. businesses will be forced to ensure that their supply chains and other business partners are compliant. Companies will need to “identify, prevent, mitigate and account for how they address actual and potential impacts in their operations, supply chains and other business relationships.” That is neither practical nor realistic—nor does it genuinely constitute “due diligence,” which is generally defined as review and analysis prior to actions being taken (e.g., “prevent” and “mitigate”). Notably, American companies will be required to comply with CSDDD even though the U.S. has not ratified many of the international conventions underlying the directive.
The CSDDD’s extraterritorial scope amounts to a serious breach of U.S. sovereignty and a direct threat to the global competitiveness of American companies. Given this, the Biden-Harris Administration must meaningfully respond. Although you acknowledged the issue in your testimony before the House Financial Services Committee, there has been little evidence that the Administration has an effective strategy for engaging with European officials on the issue. To date, no other senior officials in the Biden-Harris Administration have expressed opposition to CSDDD despite the threat it poses to U.S. interests.
We are deeply concerned that the Administration is surrendering its regulatory responsibilities to European officials, allowing them to dictate draconian social and climate policies to American companies. The EU is attempting to mitigate the relative damage of its onerous regulatory framework by forcing Americans to bear the burden as well. If implemented in any manner substantially similar to its current form, the CSDDD could force companies to divest or reduce ties with European businesses, causing significant economic harm to both the U.S. and EU.
Any policies impacting U.S. businesses should be debated and determined by the elected representatives of the American people, not overseas bureaucrats advancing their own agendas. Accordingly, we strongly encourage you and your colleagues at the relevant federal agencies to actively and publicly engage with your counterparts in Brussels and EU member-state capitals to delay implementation of CSDDD and work with the new European Parliament to repeal or substantially modify the directive. Such action is necessary to preserve U.S. sovereignty and sustain America’s economic competitiveness.
Sincerely,
BNZ is offering an assistance package to customers affected by severe rainfall in the Otago region.
Available immediately, the assistance package includes:
Ability to review home lending facilities on a case-by-case basis.
Access to temporary personal overdrafts to support customers who require access to funds urgently while they await insurance pay-outs. Standard interest rates and credit criteria applies.
Access to temporary overdrafts of up to $10,000 with no application fee for Small Business customers. Standard interest rates and credit criteria applies.
Access to temporary overdrafts for Agri, Business, and Commercial customers up to $100,000, with no application fee. Standard interest rates and credit criteria applies.
“We understand the challenges that can be posed to households, businesses and communities as a result of severe weather events,” says Anna Flower, BNZ Executive Personal and Business Banking.
“We’ve put together a range of practical support options to help ease some of the immediate financial pressure our customers might be facing.
“We also have a range of other options available, especially for customers who are facing hardship, so I encourage people to get in touch so we can see how we can help,” says Flower.
To discuss support options, business and agribusiness customers should reach out to their BNZ Partner. Small business owners can call 0800 BNZSME, while personal banking customers can access support through BNZ’s digital platforms or by calling 0800 ASKBNZ.
BNZ PremierCare Insurance customers who need assistance can call IAG NZ on 0800 248 888 or submit an online claimhttps://iagnz.custhelp.com/app/bnz
With local authorities in Otago, including Civil Defence, advising locals to avoid any unnecessary travel, BNZ is temporarily closing its Dunedin branches and Partner Centre.
“It’s important that our customers and our BNZers stay safe. Our teams in Dunedin can work from home and our people who would normally be working in our branches will instead be available to support customers via telephone banking and they continue to do their banking online or through our BNZ app,” says Flower.
BNZ’s ATM network in the affected areas remains operational, ensuring customers have continued access to cash and basic banking services.
Kiwis will see fewer potholes on our roads with road rehabilitation set to more than double through the summer road maintenance programme to ensure that our roads are maintained to a safe and reliable standard, Transport Minister Simeon Brown says.
“Increasing productivity to help rebuild our economy is a key priority for the Government, and boosting pothole repairs and prevention will deliver a safe and reliable network that will support this growth.
“The thousands of Kiwi motorists and freight operators driving on our state highways every day have become all too aware of the shocking number of potholes on our roads.
“Our Government has inherited a significant backlog of road maintenance across the country. We are now catching up on the maintenance deficit to ensure that Kiwis and freight can get to where they want to go, quickly and safely.”
The Government’s Pothole Prevention Fund will deliver a total of 285.6 lane kilometres of rehabilitation work over the coming summer months – a 124 per cent increase compared to last year.
“Rehabilitation involves full width repairs of our existing roads, and renews the life of the roading pavement, rather than simply filling in potholes. Long lasting rehabilitation work that strengthens the network and prevents potholes from forming in the first place is critical to lifting the quality of our roading network and has a much longer lasting impact than re-sealing the road.
“In recent years, investment has not kept pace with the amount of work required to maintain the network, resulting in cutbacks to rehabilitation work while quick fixes have been prioritised.
“This has resulted in increasingly rapid deterioration of the road network across the country. To reverse this decline, our Government is prioritising rehabilitation work alongside a significant resealing programme.
“Our Government is focused on getting back to basics and has boosted funding for pothole prevention on our state highways by 91 per cent compared to the previous three years. This funding is ringfenced for resealing, rehabilitation, and drainage maintenance works to ensure that maintenance funds are used to fix and prevent potholes.
“Our state highways are critically important to increasing productivity and unlocking economic growth. The Government is committed to increasing maintenance and renewals to tackle and prevent potholes so that Kiwis and freight can get to where they want to go, quickly and safely.”
Source: United States Senator Peter Welch (D-Vermont)
WASHINGTON, D.C. – Senators Peter Welch (D-Vt.), John Hoeven (R-N.D.), and Tina Smith (D-Minn.) introduced the Farm Ownership Improvement Act, bipartisan legislation to help new and young farmers access the funding needed to purchase new land by establishing a pre-approval or pre-qualification process for loans secured through the USDA’s Farm Service Agency.
“Access to land is one of the most important—and expensive—factors to success for new and young farmers. USDA loans can help farmers mitigate these costs, but rising land values and an increasingly fast-paced real estate market often leave farmers unable to compete. We need a solution that ensures agricultural lending options meet the needs of underserved farmers and ranchers who often lack the connections needed to secure these crucial funds,” said Senator Welch. “Our bill streamlines access to USDA financing so that more young farmers and ranchers can access crucial funds to start and sustain their businesses.”
“Currently, approval for an FSA farm ownership loan can take up to six months to process, putting producers that utilize this program at a huge disadvantage when trying to purchase farmland,” said Senator Hoeven. “Our legislation directs FSA to create a pilot program to establish a pre-approval process for FSA direct ownership loans. Having a pre-approved FSA loan will enable farmers, including young and beginning producers, to act quickly when farmland becomes available and make them more competitive in the real estate market.”
“Farmers and producers are the backbone of Minnesota’s economy,” said Senator Smith. “This legislation would reduce barriers for purchasing land, repairing current operations, and building capital. Meeting farmers where they are and tearing down barriers that impede their success will keep our agricultural economy thriving.”
The Farm Ownership Improvement Act also requires USDA to provide Congress with an annual report on the pilot program’s performance outcomes and coordinate outreach with stakeholder organizations to spread awareness about the program. By offering a pre-qualification or pre-approval process to direct farm ownership applicants, FSA will help level the playing field for applicants seeking land, particularly among the next generation of farmers and ranchers.
The Farm Ownership Improvement Act is endorsed by the National Young Farmers Coalition, National Farmers Union, National Sustainable Agriculture Coalition, National Family Farm Coalition, and Rural Coalition.
“As first-generation ranchers, my husband and I were incredibly fortunate to have had a relationship with the sellers of our property. We were mentored in the early years of our business leasing the same property, which meant the seller was willing to be patient with the long and sometimes arduous process involved with getting FSA loan approval. However, not every beginning farmer has the luck we had buying from someone we had a great relationship with. With the current lack of an FSA pre-approval process, new farmers are at a huge disadvantage when buying land in competition with people who are able to access conventional mortgages or purchase in cash,” said Evanne Caviness, Associate Field Director for the National Young Farmers Coalition, and Colorado rancher. “This pilot initiative to allow the FSA to give farmers and ranchers a competitive edge in an increasingly challenging market will help save farmland from going out of production or being developed and will keep it where it belongs: in the hands of our country’s farmers.”
“I’ve built a viable business from the ground up on rented land, but my partner and I don’t have access to generational wealth or high-income careers to pivot from and pursue farming full-time,” said Michelle Week of Xast Sqit (Good Rain) Farm, greater Portland Oregon. “Traditional lenders don’t recognize our lifestyle or business model, so we don’t qualify for standard loans. In the Portland, Oregon metro area and SW Washington counties, land prices are increasing, and while retiring farmers want to pass their land to people like us, they can’t afford to wait. Several farmers have approached me, but I can’t access the capital fast enough to meet their financial needs to address health and relocation costs. With FSA Pre-Approval we’d be better positioned to make offers and purchase our forever farmland, supporting retiring farmers, continuing to nourish our communities and to better stabilize and grow our farm operations. It’s a win all around.”
“This bill is a great opportunity to strengthen USDA relationships with organizations already working with beginning farmers and ranchers. Access to land and credit are the main priorities for agrarian entrepreneurs and relying on their serving trusted organizations will secure the success of the pilot program,” said Antonio Tovar, Senior Policy Associate for the National Family Farm Coalition.
“Access to affordable land is essential for the success of all farmers, and it’s an especially pressing challenge for young and beginning farmers,” said Rob Larew, President of National Farmers Union. “NFU appreciates Senators Welch and Hoeven for introducing the Farm Ownership Improvement Act. By piloting a new process for the USDA Farm Service Agency’s direct ownership loan program, this bill would help make the dream of owning farmland a reality for more of the next generation of family farmers and ranchers.”
Learn more about the Farm Ownership Improvement Act.
Read the full text of the bill.
Environment Minister Penny Simmonds has confirmed the final appointee to the refreshed Environmental Protection Authority (EPA) board.
“I am pleased to welcome Brett O’Riley to the EPA board,” Ms Simmonds says.
“Brett is a seasoned business advisor with a long and distinguished career across the technology, tourism, and sustainable business sectors.
“His extensive experience across multiple sectors, combined with his governance expertise, leadership and deep commitment to innovation, will be a tremendous asset to the board.”
Brett O’Riley is currently the Executive Chairman of Manawaroa Education and a member of the APEC Business Advisory Council. He also serves as Managing Partner of GSD Corporation and is an advisor at Tata Consultancy Services, where he assists in delivering consulting and business solutions that leverage technology for business transformation.
He has been appointed for a three-year term, which will conclude in August 2027.
Brett O’Riley joins other recently appointed first-term board members Barry O’Neil, Jennifer Scoular, Alison Stewart, and Nancy Tuaine, all of whom are also serving three-year terms.
“I look forward to working closely with Brett and the rest of the refreshed board to achieve balanced outcomes that protect the environment while supporting key industries.”
The EPA is New Zealand’s national environmental regulator and plays a vital role across the entire economy.
“EPA decisions impact the daily lives of all New Zealanders,” Ms Simmonds says.
“It’s critical to have timely, businesslike decision-making for the agriculture and horticulture sector, alongside ensuring positive environmental outcomes.”
Notes to editors:
Mr Brett O’Riley has a long career as a business advisor and entrepreneur across the technology, tourism and sustainable business sectors. He is currently the Executive Chairman of Manawaroa Education, a member of the APEC Business Advisory Council, Managing Partner of GSD Corporation, and is an advisor at Tata Consultancy Services that provides consulting and business solutions, leveraging technology for business transformation and change. He was previously a Board member of the New Zealand Film Commission and a member of Te Pūkenga Establishment Board. He has held several executive roles including as Chief Executive of the Employers and Manufacturers Association, Auckland Tourism, Events & Economic Development and founding Chief Executive of NZICT (now NZTech). Mr O’Riley will bring extensive governance experience and expertise in business transformation through technology and change to the Board.
The federal government’s surface transportation programs are financed mostly through the Highway Trust Fund, which has two accounts, one for highways and one for mass transit. The fund records inflows from revenues collected through excise taxes on the sale of motor fuels, trucks and trailers, and truck tires; taxes on the use of certain kinds of vehicles; and interest credited to the fund. It records cash outflows for spending on designated highway and mass transit projects, which is mostly in the form of grants to state and local governments. Most of the authority to spend is controlled by limitations on obligations contained in appropriation acts. Since 2001, that spending has exceeded the revenues from fuel and other taxes that are credited to the Highway Trust Fund for highway programs.
This document presents CBO’s projections of the two trust fund accounts’ finances over the next 10 years.
Source: The White House
The President’s Commission on White House Fellows is pleased to announce the appointment of the 2024-2025 class of White House Fellows. Founded in 1964, the White House Fellows program offers exceptional young leaders first-hand experience working at the highest levels of the Federal government. Fellows spend a year working with senior White House Staff, Cabinet Secretaries, and other top-ranking Administration officials, and leave the Administration equipped to serve as better leaders in their communities. Fellowships are awarded on a non-partisan basis.
This year’s Fellows advanced through a highly competitive selection process, and they are a remarkably gifted, passionate, and accomplished group. These Fellows bring experience from across the country and from a broad cross-section of professions, including from the private sector, state government, academia, non-profits, medicine, and the armed forces.
Applications for the 2025-2026 Fellowship year will be accepted starting November 1, 2024. The application link and additional information is available at: https://www.whitehouse.gov/get-involved/fellows/.
Class of 2024-2025 White House Fellows
Patrick Branco is from Kailua, Hawai‘i, and is placed at the Department of the Navy. He has been the Director of External Affairs with Hawai‘i Green Growth, a United Nations (UN) hub catalyzing action on the UN Sustainable Development Goals for the Asia-Pacific region. Branco is the first from Hawai‘i to receive the Congressman Rangel International Affairs Fellowship, funding his master’s degree at Johns Hopkins School of Advanced International Studies. He served at the State Department in Colombia, Pakistan, Venezuela and the Secretary of State’s Operations Center. In 2020, he was elected to the Hawai‘i State House of Representatives. Branco currently serves as a U.S. Navy officer reservist and is proficient in Spanish, Korean, and Hawaiian.
Nicholas Dockery is from Indianapolis, Indiana, and is placed at the Office of the First Lady: Joining Forces Initiative. With a distinguished career in the Infantry and Special Operations Community, Nick has deployed to numerous combat zones and operational areas worldwide. For bravery and wounds in combat, Nick was awarded two Silver Stars and two Purple Hearts. His military experience is complemented by his academic and advisory roles; he served as a research fellow at the Modern War Institute and as an advisor to the Military Times Charitable Foundation. Nick has received the West Point Nininger Award for Valor at Arms, the General Douglas MacArthur Leadership Award, and the title of 2022 Soldier of the Year. An advocate for equine therapy, Nick passionately supports its use in helping veterans cope with PTSD. Nick holds a Master of Public Policy from Yale University and a Bachelor of Science from the United States Military Academy at West Point.
Tawny Holmes Hlibok, Esq. is from West Palm Beach, Florida, and is placed at the Domestic Policy Council. As a third-generation Deaf person and attorney, she is a dedicated advocate for deaf children’s education rights and language equity including access to sign languages. Tawny is a tenured associate professor in Deaf Studies at the world’s only university for the Deaf, Gallaudet University, where she recently won $3.75 million funding to lead a national implementation and change center for early intervention with deaf babies and their families in partnership with HRSA and NICHQ. She also serves as the executive director of the Conference of Educational Administrators of Schools and Programs for the Deaf.
DeAnna Hoskins is from Cincinnati, Ohio, and is placed at the Department of the Army. She has served as President/CEO of JustLeadershipUSA (JLUSA), a national nonprofit that empowers people directly impacted by the criminal justice system. DeAnna is a nationally- recognized advocate and policy expert who has shifted the national narrative on the disparities and limitations of having a criminal background. She has served as Senior Policy Advisor and as Deputy Director of the Federal Interagency Reentry Council at the U.S. Department of Justice. DeAnna was also the founding Director of Reentry for Hamilton County Board of County Commissioners in Ohio.
Michael Kennedy is from Morehead City, North Carolina, and is placed at the United States Coast Guard. As a nurse practitioner, her career involves direct patient care while leading process improvement in rural and underserved settings. Michael attended Lenoir Community College to become a Registered Nurse and later earned a B.S. Nursing from Barton College. Witnessing disparities in practice led Michael to East Carolina University for an M.S. Adult Nurse Practitioner, Post-M.S. Nursing Leadership, Doctorate of Nursing Practice, and Post-DNP Nursing Education. To better serve her community, Michael completed a Post-M.S. Adult-Gerontological Acute Care NP and Post-DNP Psychiatric-Mental Health NP at Duke University. Michael is a Great 100 Nurse and Bonnie Jones Friedman Humanitarian Award recipient.
Hoa Nguyen is from Silver Spring, Maryland, and is placed at the National Economic Council and the United States Coast Guard. At Montgomery College, she is an associate professor and chair of the business department, where she helped implement a zero-textbook-cost Business degree, saving students thousands of dollars in education costs. Under her leadership, faculty and students have won multiple local, state and national awards and recognitions. Hoa also co-led numerous initiatives that led to the launch of the Asian American Native American Pacific Islander Taskforce at the college. Hoa received a Ph.D. in economics from the University of Arizona.
Amnahir Peña-Alcántara is from Bronx, New York, and is placed at the Department of Commerce: National Institute of Standards and Technology. She is pursuing a Ph.D. in Materials Science and Engineering at Stanford University funded by the NSF’s Graduate Research Fellowship Program and the Knight-Hennessy Scholarship. Her research focuses on polymer blends for stretchable electronics. She graduated from MIT with a bachelor’s degree in materials science and engineering, and was a researcher at Northwestern University, Oxford University, and MIT. She has interned in wearable technology and textile fabrication companies in the U.S., Canada, Puerto Rico, and India.
Padmini Pillai is from Newton, Massachusetts, and is placed at the Social Security Administration. Padmini is an immunoengineer bridging the gap between discoveries in immunology and advances in biomaterial design to treat human disease. She has led a team at MIT developing a tumor-selective nanotherapy to eliminate hard-to-treat cancers. During the COVID-19 pandemic, Padmini was featured in several media outlets including CNBC, The Atlantic, and The New York Times to discuss vaccination, immunity, and the disproportionate impact of the pandemic on vulnerable communities. Padmini received her Ph.D. in immunobiology from Yale University and a B.A. in biochemistry from Regis College.
Maddy Sharp is from San Diego, California, and is placed at the Office of the Second Gentleman. She is a physician leader committed to securing a healthier and more equitable future for all Americans. She has served as a health policy fellow for Senator Amy Klobuchar and a policy research fellow for Secretary John Kerry. Madison has performed clinical work and research in Nicaragua, Jordan, and the Navajo Nation to reduce health disparities and championed policies to enhance healthcare delivery. She completed her obstetrics and gynecology residency at the Hospital of the University of Pennsylvania. Madison holds an M.D. from the Yale School of Medicine and B.A. from Yale University, where she captained the NCAA Division I field hockey team.
Jason Spencer is from Medford, New York, and is placed at the Department of Commerce. Jason is a Lieutenant Commander in the U.S. Navy serving as an Information Warfare and Intelligence Officer. At sea, he was assigned to aircraft carriers and destroyers deployed to the Middle East and Europe. Ashore, Jason served as Targeting Officer and Aide-de-Camp to the Commander of U.S. Fifth Fleet in Bahrain and later as Aide-de-Camp to the Commander of U.S. Pacific Fleet in Hawaii. At the Pentagon, he served as Senior Intelligence Briefer for the Chief of Naval Operations – Intelligence Plot and as an Executive Officer to the Joint Staff’s Director for Intelligence. Jason earned a B.A. in international studies and political science from Virginia Military Institute, an M.A. from the Department of War Studies at King’s College London, and an M.P.A. from the Kennedy School of Government at Harvard University.
Nalini Tata is from New York City, New York, and is placed at the White House Office of Cabinet Affairs. She is a neurosurgery resident at New York-Presbyterian Weill Cornell Medical Center/Memorial Sloan Kettering Cancer Center, where she helps treat the spectrum of emergency and elective neurosurgical conditions between a level I trauma center and a world-renowned cancer institute. Her published work spans clinical and non-scientific journals with a focus on advancing equity in access to care. Her career in neurosurgery and long-standing interest in public policy are closely bound by a deep-rooted dedication to public service. She received her BSc in neurobiology from Brown University, MPhil from the University of Cambridge, M.D. from Northwestern Feinberg School of Medicine, and MPP in Democracy, Politics, and Institutions from the Harvard Kennedy School of Government.
Alexander Tenorio is from Los Angeles, California, and is placed at the Department of Veterans Affairs. He is a neurological surgery resident at the University of California, San Diego. He is the proud son of Mexican immigrants and dedicated to improving health disparities. He has led a research team investigating neurological traumatic injuries at the U.S.-Mexico border with his published work featured in the Los Angeles Times and New York Times. In his commitment for health equity, he partnered with Hospital General de Tijuana in Mexico to improve their neurosurgical care. He earned an M.D. from the University of California, San Francisco and B.A. from the University of California, Berkeley.
Zachary White II is from Birmingham, Alabama, and is placed at the Department of Veterans Affairs. He is a Radiation Oncology resident physician and cancer researcher at Stanford University. Passionate about health equity, Zach co-chairs Stanford Medicine’s GME Diversity Committee, promoting diverse medical trainees’ recruitment and development, and provides health education to communities to improve health literacy. Zach graduated summa cum laude from Tuskegee University with a B.S. in biology and earned an M.S. in biomedical and health sciences from the University of Alabama at Birmingham. He received his M.D. from the University of South Alabama, where he served as class president.
Ryan Wisz is from Aiken, South Carolina, and is placed at the Central Intelligence Agency. He is a Lieutenant Commander in the United States Navy serving as a Submarine Warfare officer. At sea, he has served aboard Attack and Ballistic Missile submarines and has deployed seven times, including missions vital to national security. Ashore, he has served as aide-de-camp to the Commander Submarine Force, U.S. Pacific Fleet, and as the Submarine Squadron Engineer in San Diego, California. Prior to military service, he was a Page in the South Carolina House of Representatives and Senate. He received his B.S. in economics from the University of South Carolina and is a Distinguished Graduate from the Naval Postgraduate School with his MBA and published master’s thesis. He has received numerous personal and unit awards during his Navy service, is active in local tutoring, and passionate about financial education and physical fitness.
Mark York is a seventh-generation farmer from Lake Wilson, Minnesota, and is placed at the Department of Defense Office of Strategic Capital. He is a Ph.D. candidate in computer science at Harvard, where he researches crowdsourcing and reinforcement learning algorithms in collaboration with MIT. He is the co-founder and President of Farm Yield Africa, a non-profit providing tractor services and microcredit to 1,500 farmers in Ghana since 2016. Mark has worked as a consultant, and before that he led a data science team at a startup building agricultural risk models. He began his career at Cargill as a commodity trader and data scientist. Mark studied agronomy and mathematics at South Dakota State University, where as Student Body President he introduced legislation at the state and local level.
Julie Dabrusin, Parliamentary Secretary to the Minister of Environment and Climate Change and to the Minister of Energy and Natural Resources, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced funding of $13.6 million from National Resources Canada’s Enabling Small Modular Reactors (SMR) Program for nine research projects to promote the safe, commercial development of SMRs to contribute to our low-carbon economy and help fight climate change.
October 3, 2024 Ottawa, Ontario Natural Resources Canada
As Canada continues to move toward a low-carbon economy, many forms of clean energy are needed to power the growing demand for affordable and reliable electricity. These include nuclear energy, which is non-emitting, consistent and safe.
Today, Julie Dabrusin, Parliamentary Secretary to the Minister of Environment and Climate Change and to the Minister of Energy and Natural Resources, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced funding of $13.6 million from National Resources Canada’s Enabling Small Modular Reactors (SMR) Program for nine research projects to promote the safe, commercial development of SMRs to contribute to our low-carbon economy and help fight climate change. The projects are:
$935,542 to Queen’s University in Kingston, Ontario, to study fuel dry storage and to conduct a techno-gap / life-cycle assessment to enable the effective deployment of SMRs.
$2,131,000 to Chemetics in Pickering, Ontario, to support the research and development of SMR fabrication. This project will enable Chemetics to develop, test and qualify new fabrication technologies for SMR components.
$2,750,000 to Prodigy Clean Energy Ltd in Montreal, Quebec, to support research and development to enable transportable nuclear power plants as part of the SMR supply chain.
$3,750,000 to the Nuclear Waste Management Organization in Toronto, Ontario, to enhance the compatibility of the NWMO’s current Adaptive Phased Management program with the upcoming deployment of SMRs.
$261,535 to Calian Ltd. in Ottawa, Ontario, to provide a guidance document to SMR vendors and planned owners or operators in Canada that outlines the characterization of radiological elements in building materials for the construction of new SMR facilities.
$543,000 to the Organization of Canadian Nuclear Industries in Pickering, Ontario, to develop a National Ready4SMR program to identify procurement risks due to technological gaps in Canada’s SMR projects and subsequently develop supply strategies for at-risk parts and components.
$126,475 to Kinectrics in Etobicoke, Ontario, to investigate the feasibility of disposing the isotope carbon-14 by recovering it from radioactive wastes and to engage with stakeholders to identify a route to divert waste streams from disposal.
$2,070,336 to North Shore Mi’kmaq Tribal Council in Eel Ground, New Brunswick, to study and develop robust supply chains in Canada for SMR manufacturing while anchoring elements in New Brunswick with First Nations ownership.
$1,094,850 to Opportunities New Brunswick in Fredericton, New Brunswick, to provide a research and development life-cycle framework and roadmap for the manufacturing of cost-effective modularized SMR technology to enhance the development and deployment of SMRs within Canada.
As Canada advances toward a net-zero future, investments like these are key to reducing emissions, maximizing energy performance and industry competitiveness. These investments support workers and industry in building a more prosperous and sustainable future. With over 70,000 hard-working Canadians employed across its supply chain, Canada’s nuclear industry is well positioned to leverage its science and technology innovation to become a leader in the development and deployment of small modular reactor technology.
Quotes
“Developing next-generation nuclear technologies, like small modular reactors, will be essential as Canada faces growing energy demands and is called upon to export our clean technologies to partners around the world. Our nuclear sector is poised to be a leader in an emerging global SMR market that some estimate to be worth up to $150 billion a year by 2040.”
Julie Dabrusin Parliamentary Secretary to the Minister of Energy and Natural Resources and to the Minister of Environment and Climate Change
Quick facts
Budget 2022 allocated $29.6 million to NRCan over four years for research and development to support the conditions and frameworks necessary for SMRs to displace fossil fuels and contribute to climate change mitigation.
NRCan introduced the Enabling Small Modular Reactors Program in 2023 to support the development of supply chains for SMR manufacturing and fuel and to fund research on SMR waste management solutions to ensure that SMRs and the waste they generate can be safely managed, now and into the future.
The Enabling SMR Program has announced $3.5 million to date for projects being led by the Canadian Standards Association, the University of Alberta and the University of Regina.
Source: United States House of Representatives – Representative Matt Rosendale (Montana)
WASHINGTON, D.C. – Today, Congressman Matt Rosendale (MT-02) sent a letter to the Director of the Bureau of Land Management (BLM) Tracy Stone-Manning objecting to the BLM’s proposed Western Solar Plan. The plan would lock up 572,479 acres of public land in Montana for solar development despite solar having been proven to be inefficient and unreliable due to the sparse sunlight during winter months.
You can read the full letterHERE.
“BLM’s Western Solar Plan must be halted immediately, solar energy has proven to be ineffective time and time again,”said Rep. Rosendale.“The completion of this project will restrict Montanans’ access to thousands of acres of public land, which should instead be set aside for recreation, grazing, and tourism, which are vital to our state’s economy and citizens’ livelihood. Instead of pushing her radical green agenda on our state, Director Stone-Manning should work on approving the current backlog of coal leases, which would give us reliable energy and create good-paying jobs.”
DALLAS, Oct. 03, 2024 (GLOBE NEWSWIRE) — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, today announced that it expects to issue financial results for the third quarter of 2024 before market on Thursday, October 17, 2024. Executive management will host a conference call and webcast to discuss third quarter 2024 operating results on Thursday, October 17, 2024, at 9:00 a.m. EDT.
Alternatively, participants may call 833.470.1428 and use the access code 126292 at least fifteen minutes prior to the call to join through an operator.
An audio replay will be available one hour after the conclusion of the call on the company’s investor website.
ABOUT TEXAS CAPITAL BANCSHARES, INC. Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit http://www.texascapital.com.
TORONTO, Oct. 03, 2024 (GLOBE NEWSWIRE) — AGF Management Limited reported total assets under management (AUM) and fee-earning assets1 of $50.9 billion as at September 30, 2024.
Subtotal (before AGF Capital Partners AUM and fee-earning assets1)
$46.0
$44.8
$38.9
AGF Capital Partners
$2.8
$2.8
$0.1
Total AUM
$48.8
$47.6
2.5%
$39.0
25.1%
AGF Capital Partners fee-earning assets1
$2.1
$2.1
$2.0
Total AUM and fee-earning assets1
$50.9
$49.7
2.4%
$41.0
24.1%
Average Daily Mutual Fund AUM
$28.2
$27.7
$24.0
1 Fee-earning assets represent assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.
Mutual Fund AUM by Category
($ billions)
September 30, 2024
August 31, 2024
September 30, 2023
Domestic Equity Funds
$4.4
$4.3
$3.9
U.S. and International Equity Funds
$17.3
$16.9
$13.1
Domestic Balanced Funds
$0.1
$0.1
$0.1
U.S. and International Balanced Funds
$1.6
$1.6
$1.6
Domestic Fixed Income Funds
$1.8
$1.7
$1.5
U.S. and International Fixed Income Funds
$3.2
$3.2
$3.1
Domestic Money Market
$0.3
$0.3
$0.2
Total Mutual Fund AUM
$28.7
$28.1
$23.5
AGF Capital Partners AUM and fee-earning assets
($ billions)
September 30, 2024
August 31, 2024
September 30, 2023
AGF Capital Partners AUM
$2.8
$2.8
$0.1
AGF Capital Partners fee-earning assets
$2.1
$2.1
$2.0
Total AGF Capital Partners AUM and fee-earning assets
$4.9
$4.9
$2.1
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.
AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.
Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $51 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
AGF Management Limited shareholders, analysts and media, please contact:
HENDERSON, Nev., Oct. 03, 2024 (GLOBE NEWSWIRE) — Employers Holdings, Inc. (the “Company”) (NYSE:EIG) today announced that it will release its third quarter 2024 financial results after market close on Wednesday, October 30, 2024, after which these materials will be available on the Company’s website at http://www.employers.com through the “Investors” link.
Conference Call Details The Company will then review these financial results via a conference call and webcast on Thursday, October 31, 2024, at 11:00 a.m. EDT / 8:00 a.m. PDT.
To participate in the live conference call, you must first register here. Once registered you will receive dial-in numbers and a unique PIN number. The webcast will be accessible on the Company’s website at http://www.employers.com through the “Investors” link.
An archived version of the webcast will be accessible on the Company’s website following the live call.
EMPLOYERS® and America’s small business insurance specialist® are registered trademarks of EIG Services, Inc. Employers Holdings, Inc. is a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services focused on small and select businesses engaged in low-to-medium hazard industries. The Company operates throughout the United States, with the exception of four states that are served exclusively by their state funds. Insurance is offered through Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, Employers Assurance Company and Cerity Insurance Company, all rated A- (Excellent) by the A.M. Best Company. Not all companies do business in all jurisdictions. See http://www.employers.com and http://www.cerity.com for coverage availability.
ASHEVILLE, N.C., Oct. 03, 2024 (GLOBE NEWSWIRE) — While the full impact of Hurricane Helene and its aftermath, including catastrophic rain and flooding, is still unknown, relief efforts continue, and HomeTrust Bank is committed and prepared to serve its employees and customers who were affected.
“Our thoughts and prayers are with the many families and businesses impacted by the devastating flooding,” said C. Hunter Westbrook, President & Chief Executive Officer. “We want to assure everyone affected of our firm commitment to work with you to provide the banking support needed for your home, your business and our great communities. In addition, the teamwork and dedication of our employees has been tremendous as they restored bank operations while tending to their personal and familial responsibilities. We are also humbled by the support, supplies and outreach from other banks throughout the Southeast.”
As we emerge from the devastation our communities have suffered, our top priority is the safety of our customers and our team members. We have now communicated with and confirmed the safety of all our employees, as well as assessed all our banking locations noting only minimal damage from the storm. We remained functionally operational throughout the storm, including electronic banking services and online operations, and currently all but three of our 36 locations have at least drive-thru banking available. With utilities and communications still impaired and unstable, particularly in our home base of Western North Carolina, please refer to our website at http://www.htb.com/hurricane-helene for the most recent updates and service availabilities.
About HomeTrust Bancshares, Inc. HomeTrust Bancshares, Inc. (NASDAQ: HTBI) is the holding company for HomeTrust Bank. As of June 30, 2024, the Company had assets of $4.7 billion. The Bank, founded in 1926, is a North Carolina state chartered, community-focused financial institution committed to providing value added relationship banking with over 30 locations as well as online/mobile channels. Locations include: North Carolina (the Asheville metropolitan area, the “Piedmont” region, Charlotte and Raleigh/Cary), South Carolina (Greenville and Charleston), East Tennessee (Kingsport/Johnson City, Knoxville and Morristown), Southwest Virginia (the Roanoke Valley) and Georgia (Greater Atlanta).
Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but instead are based on certain assumptions including statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by forward-looking statements. The factors that could result in material differentiation include, but are not limited to the impact of bank failures or adverse developments involving other banks and related negative press about the banking industry in general on investor and depositor sentiment; the remaining effects of the COVID-19 pandemic on general economic and financial market conditions and on public health, both nationally and in the Company’s market areas; natural disasters, including the effects of Hurricane Helene; expected revenues, cost savings, synergies and other benefits from merger and acquisition activities might not be realized to the extent anticipated, within the anticipated time frames, or at all, costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected, and goodwill impairment charges might be incurred; increased competitive pressures among financial services companies; changes in the interest rate environment; changes in general economic conditions, both nationally and in our market areas; legislative and regulatory changes; and the effects of inflation, a potential recession, and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission – which are available on the Company’s website at http://www.htb.com and on the SEC’s website at http://www.sec.gov. Any of the forward-looking statements that the Company makes in this press release or in the documents the Company files with or furnishes to the SEC are based upon management’s beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions, the factors described above or other factors that management cannot foresee. The Company does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (the “Company”) (NYSE: PNNT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets.
The Company will also host a conference call at 12:00 p.m. (Eastern Time) on Tuesday, November 26, 2024 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (646) 828-8193. All callers should reference conference ID #3424889 or PennantPark Investment Corporation. An archived replay will also be available on a webcast link located on the Quarterly Earnings page in the Investor section of PennantPark’s website.
ABOUT PENNANTPARK INVESTMENT CORPORATION
PennantPark Investment Corporation is a business development company which principally invests in U.S. middle-market private companies in the form of first lien secured debt, second lien secured debt, subordinated debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC.
ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC
PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $8.0 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles and Amsterdam.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Investment Corporation undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.
CONTACT: Richard T. Allorto, Jr. PennantPark Investment Corporation (212) 905-1000 http://www.pennantpark.com
WESTPORT, Conn., Oct. 03, 2024 (GLOBE NEWSWIRE) — Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, announced today that its Board of Directors (the “Board”) has declared a quarterly cash distribution of $0.25 per share on the Company’s common shares (the “Common Shares”). The distribution for the three months ended September 30, 2024, is payable on October, 24, 2024, to all holders of record of Common Shares as of October 17, 2024.
The Board also declared a quarterly cash distribution of $0.453125 per share on the Company’s 7.250% Series A Preferred Shares (the “Series A Preferred Shares”). The distribution on the Series A Preferred Shares covers the period from, and including, July 30, 2024, up to, but excluding, October 30, 2024. The distribution for such period is payable on October 30, 2024, to all holders of record of Series A Preferred Shares as of October 15, 2024.
The Board also declared a quarterly cash distribution of $0.4921875 per share on the Company’s 7.875% Series B Preferred Shares (the “Series B Preferred Shares”). The distribution on the Series B Preferred Shares covers the period from, and including, July 30, 2024, up to, but excluding, October 30, 2024. The distribution for such period is payable on October 30, 2024, to all holders of record of Series B Preferred Shares as of October 15, 2024.
The Board also declared a quarterly cash distribution of $0.4921875 per share on the Company’s 7.875% Series C Preferred Shares (the “Series C Preferred Shares”). The distribution on the Series C Preferred Shares covers the period from, and including, July 30, 2024, up to, but excluding, October 30, 2024. The distribution for such period is payable on October 30, 2024, to all holders of record of Series C Preferred Shares as of October 15, 2024.
CODI’s common and preferred cash distributions should generally constitute “qualified dividends” for U.S. federal income tax purposes to the extent they are paid from “earnings and profits” (as determined under U.S. federal income tax principles), provided that the requisite holding period is met. To the extent that the amount of the cash distributions exceeds earnings and profits, such distribution will first be treated as a non-taxable return of capital to the extent of the holder’s adjusted tax basis in the shares, and thereafter be treated as a capital gain from the sale or exchange of such shares.
CODI anticipates, but is not certain, that all 2024 distributions will be treated as qualified dividends, provided that the requisite holding periods are met. The final tax status of such amounts will be made and reported to shareholders in early 2025, when the determination of earnings and profits for the 2024 year is completed. The final tax status of the 2024 distributions may differ from this preliminary expectation.
About Compass Diversified (“CODI”) Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the industrial, branded consumer and healthcare sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.
Forward Looking Statements This press release may contain certain forward-looking statements, including statements with regard to the future performance of CODI and its subsidiaries. Words such as “believes,” “expects,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the risk factor discussion in the Form 10-K filed by CODI with the SEC for the year ended December 31, 2023 and in other filings with the SEC. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
IIFT organizes regional conference of Asian and African chair holders of WTO Chairs Programme in New Delhi Conference highlights need for aligned trade strategies, digital solution for trade barriers and climate-responsive global trade norms
Posted On: 03 OCT 2024 4:50PM by PIB Delhi
The Indian Chair of the World Trade Organization (WTO) Chairs Programme (WCP) organised a regional conference of the Asian and African Chairs on the theme Fostering Resilient and Responsible Trade for Changing Global Order at Vanijya Bhawan, New Delhi on 27thand 28thSeptember, 2024. The Indian Institute of Foreign Trade (IIFT) represented through its centres, namely, the Centre for Trade and Investment Law (CTIL) and the Centre for WTO Studies (CWS) administers the WTO Chair in India. The conference was inaugurated by Shri Ajay Bhadoo, Additional Secretary, Department of Commerce, Government of India.
The key takeaways from the Conference are: (i) necessity of aligning regional and multilateral trade strategies for coherent global norms; (ii) importance of addressing barriers to trade using digital tools to ensure inclusivity and equal opportunities for all nations and stakeholders in international trade and (iii) critical need for robust climate action that accommodates the unique challenges faced by developing countries.
Several dignitaries including India’s Ambassador and Permanent Representative to the WTO Dr. Senthil Pandian C.; Deputy Director General, WTO, Amb. Xiangchen Zhang; Vice Chancellor, IIFT, Prof. Rakesh Mohan Joshi; Head and Professor, CTIL and India Chair, WCP, Prof. James J. Nedumpara; Permanent Representative of France to the WTO, H.E. Ms. Emmanuelle Ivanov-Durand and H.E. Mr. Jung Sung Park, Deputy Permanent Representative of the Republic of Korea to the WTO addressed the gathering.
The conference provided an opportunity for WTO chairholders, leading scholars, trade experts, and policymakers from across Asia and Africa to discuss ways and means of fostering resilient and responsible trade in a dynamic global economy.
The Conference, over the two days, included seven thematic sessions on a broad array of topics relating to resilient and responsible trade, a keynote address by Henry J. Braker Professor of Commercial Law at The Fletcher School of Law and Diplomacy, Tufts University, United States, Prof. Joel Trachtman and a special address by CEO, NITI Aayog, Shri B. V. R. Subrahmanyam.
The Conference also focused on critical issues at the intersection of global trade and sustainability. The discussions highlighted the need for coherence in trade strategies, the challenges of inclusive digital transformation, and the importance of responsible practices in critical mineral extraction with a specific focus on Asia and Africa regions. The event emphasized collaborative approaches to support developing countries in navigating complex trade dynamics and achieving sustainable development goals.
In the thematic sessions, the representatives from the WCP Chairs from Asian and African institutions presented their ideas and experiences from a national, regional and multilateral perspective. The sessions covered topics such as regional aspects in international trade law, green industrial policies, critical minerals for a clean energy future, WTO dispute settlement system and sustainable climate actions.
A roundtable of WCP Chairs was also held during the Conference to deliberate on collaborations between WCP Chairs of Asia and Africa. During the roundtable, the WCP Chairs discussed the role that the WTO could play in facilitating the network and the different ways in which the WCP Chairs could exchange knowledge, and experience and engage in academic partnerships under the aegis of WTO Chairs Programme.
HOUSTON, Oct. 03, 2024 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen” or the “Company”) (NASDAQ: TLN), an independent power producer dedicated to powering the future, announced today that it has completed a transaction with TeraWulf Inc. (“TeraWulf”) to purchase TeraWulf’s interest in Nautilus Cryptomine (“Nautilus”), a 200-megawatt bitcoin mining facility in Berwick, Pa. As a result of the transaction, Talen now owns 100% of Nautilus.
“We are pleased to complete this strategic transaction,” said Cole Muller, Executive Vice President -Strategic Ventures. “The transaction allows Talen the ability to reset a legacy below-market power purchase agreement and provides us with increased flexibility as we explore strategic alternatives in order to maximize the value per megawatt for our Susquehanna nuclear generation facility.”
Under the terms of the agreement, Talen has purchased TeraWulf’s 25% share in Nautilus and obtained full control of the legacy power purchase agreement, for total consideration of $85 million cash along with select physical assets used in the bitcoin mining operation.
About Talen
Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced and driving the energy transition. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.
This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future2 events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.
MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets.
The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Tuesday November 26, 2024 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (646) 828-8193. All callers should reference conference ID #3226260 or PennantPark Floating Rate Capital Ltd. An archived replay will also be available on a webcast link located on the Quarterly Earnings page in the Investor section of PennantPark’s website.
ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.
ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC
PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $8.0 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles and Amsterdam.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.
CONTACT:
Richard T. Allorto, Jr. PennantPark Floating Rate Capital Ltd. (212) 905-1000 http://www.pennantpark.com
India Charts Course towards Maritime Decarbonization at High-Level Conference The conference organised by Ministry of Ports, Shipping and Waterways underscored India’s commitment to achieving net-zero carbon emissions by 2070
Through initiatives like the Harit Sagar Green Port Guidelines and Harit Nauka Green Transition Guidelines, we are setting a global example in the adoption of green energy, sustainable port operations, and cleaner shipping practices: Shri TK Ramchandran, Secretary, MoPSW
Expert sessions highlighted global best practices and regulatory strategies to drive maritime decarbonisation
Posted On: 03 OCT 2024 5:27PM by PIB Delhi
The Conference on Maritime Decarbonization in India, co-hosted by the Ministry of Ports, Shipping & Waterways (MoPSW) and the Asian Development Bank (ADB), concluded today at Le Meridien, New Delhi. The event brought together over 200 delegates, including leaders from key Indian ports, central and state government officials, industry stakeholders, international experts, and academia to discuss the future of green shipping and port operations.
The conference underscored India’s commitment to achieving net-zero carbon emissions by 2070 and highlighted strategic initiatives to decarbonize its maritime sector, aligned with the Maritime India Vision 2030. Discussions covered a range of critical themes, including green port infrastructure, clean harbor craft, the use of zero-carbon fuels, emissions reduction strategies, and the electrification of inland waterways.
In his keynote address, Shri T. K. Ramachandran, Secretary, MoPSW, reinforced India’s determination to transform its maritime sector. He said “India’s maritime sector is not just a key driver of nation’s economy but also a critical player in our fight against climate change. Through initiatives like the Harit Sagar Green Port Guidelines and Harit Nauka Green Transition Guidelines, MoPSW is setting a global example in the adoption of green energy, sustainable port operations, and cleaner shipping practices. Our efforts today will define the maritime landscape of tomorrow, ensuring a balance between economic growth and environmental sustainability.”
“MoPSWs ambition to embrace low or zero-emission fuels and transform all vessels in Indian waters into green vessels by 2047 exemplifies forward-thinking approach to climate action and sustainable maritime practices”.
“The National Green Hydrogen Mission, with its goal of making India a global hub for green hydrogen production, reflects commitment to achieve net-zero emissions by 2070. By reducing carbon intensity and adopting ‘Working with Nature’ principles, MoPSW ensures that India’s maritime sector not only supports economic growth but also aligns with broader climate objectives, driving innovation and sustainability in every step”.
One of the event’s highlights was a special session on Green Ports and Maritime Decarbonization, where experts shared knowledge and best practices for reducing the carbon footprint of Indian ports. The session included presentations from Ajay Kumar Singh, Head of DNV Maritime Advisory India, who discussed the role of smart ports in enhancing energy efficiency, and Lawrence Ong, Deputy Director of Maritime and Port Authority of Singapore, who shared insights into Singapore’s decarbonization journey.
In another session, discussions focused on the role of zero-carbon fuels in maritime operations, with experts highlighting the need for early adoption of alternative fuels like green hydrogen and ammonia. Captain Prashant S. Widge of Maersk Line shared a shipowner’s perspective on the global challenges and opportunities in transitioning to green fuels, while Madhu Nair, CMD of Cochin Shipyard, presented the Indian experience with alternative fuels.
The conference also spotlighted Inland Waterways as a key area for decarbonization, with presentations from R. Lakshmanan, Joint Secretary (IWT), MoPSW, and P. J. Shaji, CGM of Kochi Water Metro, showcasing successful efforts in reducing emissions and improving efficiency in water-based transportation. Shri Lakshmanan also suggested transitioning to low-emission alternative fuels would help tapping into the complete potential of IWT as a sustainable transportation mode.
During the session Shri. R. Lakshmanan, Joint Secretary (Ports), MoPSW emphasized the importance of continued collaboration within the sector, to drive tangible progress toward achieving decarbonization goals in India’s maritime industry. He emphasized on MoPSW blueprint for Ecosystem Development for Green Hydrogen Production and Export at Major Ports.
The conference was expertly moderated by distinguished professionals from ADB and KPMG, ensuring insightful discussions and seamless coordination throughout the event. The conference concluded with a panel discussion moderated by Dr. Yesim Elhan-Kayalar, Advisor, ERDI, ADB, on India’s maritime decarbonization priorities and the path forward for sustainable and green shipping practices.
As part of the outcomes, the conference emphasized the need for continued collaboration between government bodies, industry leaders, and international organizations to achieve shared decarbonization goals. It also set the stage for further discussions on innovative financing models and regulatory frameworks that support green shipping and port development.
As India moves forward with its ambitious goals, the insights gained from the Conference on Maritime Decarbonization will play a crucial role in shaping policies and practices that contribute to a cleaner, greener maritime sector.
Cabinet Approves National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds) for 2024-25 to 2030-31 Mission aims at making India self reliant in seven years in oilseeds’ production
Mission will introduce SATHI Portal enabling States to coordinate with stakeholders for timely availability of quality seeds
Posted On: 03 OCT 2024 8:13PM by PIB Delhi
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds), a landmark initiative aimed at boosting domestic oilseed production and achieving self-reliance (Atmanirbhar Bharat) in edible oils. The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore.
The newly approved NMEO-Oilseeds will focus on enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum, as well as increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils. The mission aims to increase primary oilseed production from 39 million tonnes (2022-23) to 69.7 million tonnes by 2030-31. Together with NMEO-OP (Oil Palm), the Mission targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping. The Mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing.
To ensure the timely availability of quality seeds, the Mission will introduce an Online 5-year rolling seed plan through the ‘Seed Authentication, Traceability & Holistic Inventory (SATHI)’ Portal, enabling states to establish advance tie-ups with seed-producing agencies, including cooperatives, Farmer Producer Organizations (FPOs), and government or private seed corporations. 65 new seed hubs and 50 seed storage units will be set up in public sector to improve the seed production infrastructure.
Additionally, over 600 Value Chain Clusters will be developed across 347 unique districts, covering more than 10 lakh hectares annually. These clusters will be managed by value chain partners such as FPOs, cooperatives, and public or private entities. Farmers in these clusters will have access to high-quality seeds, training on Good Agricultural Practices (GAP), and advisory services on weather and pest management.
The Mission also seeks to expand oilseed cultivation by an additional 40 lakh hectares by targeting rice and potato fallow lands, promoting intercropping, and promoting crop diversification.
Support will be extended to FPOs, cooperatives, and industry players to establish or upgrade post-harvest units, enhancing recovery from sources such as cottonseed, rice bran, corn oil, and Tree-Borne Oils (TBOs).
Furthermore, the Mission will promote awareness of recommended dietary guidelines for edible oils through an Information, Education, and Communication (IEC) campaign.
The Mission aims to significantly enhance domestic oilseed production, advancing the goal of Atmanirbharta (self-reliance) in edible oils, thereby reducing import dependency and conserving valuable foreign exchange while boosting farmers’ incomes. This mission will also accrue significant environmental benefits in the form of low water usage and improved soil health and making productive use of crop fallow areas.
Background:
The country is heavily reliant on imports which account for 57% of its domestic demand for edible oils. To address this dependency and promote self-sufficiency, the Government of India has undertaken a series of measures to enhance domestic production of edible oils, including the launch of National Mission on Edible Oils – Oil Palm (NMEO-OP) with an outlay of Rs 11,040 crore to boost oil palm cultivation in the country in 2021.
In addition, the Minimum Support Price (MSP) for mandated edible oilseeds has been significantly increased to ensure remunerative prices to the oilseed farmers. The continuation of the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) ensures that oilseed farmers receive MSP through price support scheme and price deficiency payment scheme. Besides, 20% import duty on edible oils has been imposed to protect domestic producers from cheap imports and encourage local cultivation.
Cabinet approves India to Join International Energy Efficiency Hub by signing the Letter of Intent Decision will help India gain access to an exclusive 16 nation group sharing strategic energy practices and innovative solutions
Posted On: 03 OCT 2024 8:25PM by PIB Delhi
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of ‘Letter of Intent’ thus enabling India to join the ‘Energy Efficiency Hub’.
India will join the International Energy Efficiency Hub (Hub), a global platform dedicated to fostering collaboration and promoting energy efficiency worldwide. This move solidifies India’s commitment to sustainable development and aligns with its efforts to reduce greenhouse gas emissions.
Established in 2020 as the successor to the International Partnership for Energy Efficiency Cooperation (IPEEC), in which India was a member, the Hub brings together governments, international organizations, and private sector entities to share knowledge, best practices, and innovative solutions. By joining the Hub, India will gain access to a vast network of experts and resources, enabling it to enhance its domestic energy efficiency initiatives. As of July, 2024, sixteen countries (Argentina, Australia, Brazil, Canada, China, Denmark, European Commission, France, Germany, Japan, Korea, Luxembourg, Russia, Saudi Arabia, United States and United Kingdom) have joined the Hub.
As a member of the Hub, India will benefit from opportunities for collaboration with other member states, sharing its own expertise and learning from international best practices. The country will also contribute to global efforts to address climate change by promoting energy-efficient technologies and practices.
Bureau of Energy Efficiency (BEE), the statutory agency, has been designated as the implementing agency for the Hub on behalf of India. BEE will play a crucial role in facilitating India’s participation in the Hub’s activities and ensuring that India’s contributions align with its national energy efficiency goals.
By joining the Hub, India is taking a significant step towards more sustainable future. The country’s participation in this global platform will help to accelerate the transition to a low-carbon economy and improve energy security.
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved modification of the existing Productivity Linked Reward (PLR) Scheme for the major ports and dock labour Board employees/workers from 2020-21 to 2025-26.
The modified PLR scheme applicable from 2020-21 to 2025-26 will benefit about 20,704 employees of Major Port Authorities and Dock Labour Board Employees/workers. The total financial implication for the entire period will be about Rs.200 crore.
Ministry of Ports, Shipping and Waterways has accordingly modified the Productivity Linked Reward (PLR) Scheme for all Major Port Authorities and Dock Labour Board employees/workers for the years 2020-21 to 2025-26 increasing weightage for calculation of PLR to port specific performance instead of weightage to all India performance. Productivity |Linked Reward (PLR) has been calculated on the wage ceiling for calculation of Bonus at Rs.7000/- per month. PLR shall be paid annually by enhancing the port specific performance weightage from 50% to 55% and further increasing to 60%. The All India Port performance weightage will also come down to 40% over a period till 2025-26, This is replacing the existing equal weightage of 50% for the All India port performance and the specific Port performance. It is expected that the proposed modification will bring about the efficiency factor along with competition among the Major Ports.
This PLR Scheme will foster better industrial relationship and congenial work atmosphere in the Port Sector, apart from stimulating better productivity.
Productivity Linked Reward (PLR) is an existing scheme for the employees/workers of Major Port Trusts and Dock Labour Board, wherein financial reward is being granted to employees/workers on yearly basis based on the settlement arrived at between Management and the Labour Federations of the Major Port Authorities.
Department of Financial Services (DFS) aims to clean more than 30,000 sites during Special Campaign 4.0 DFS would also focus on specific activities that are relevant to financial service sector that enable operational effectiveness and customer satisfaction
Posted On: 03 OCT 2024 8:49PM by PIB Delhi
The Special Campaign 4.0 is being undertaken by the Department of Financial Services (DFS), Ministry of Finance, with full enthusiasm and true spirit. The campaign phase has been commenced from 2ndOctober 2024. During the Preparatory Phase, Nodal Officers of this Department and of field organisations have been appointed.
All organisations and sections of DFS have identified the pendency and have set a target under various suggestive parameters/activities of the campaign. DFS has also set a target to clean more than 30,000 sites across the country, as against 26,958 sites cleaned during the Special Campaign 3.0.
The DFS would also focus on specific activities that are relevant to financial service sector viz. updating dormant accounts, renewal of locker agreements, claim settlements, pension grievances redressal and updating nomination in accounts etc. which enables operational effectiveness and customer satisfaction. DFS has also requested its organisations to utilise the opportunity by undertaking customer centric initiatives like installation of water dispensers, enhancement of sitting areas/lobby for senior citizens, construction of ramps for Divyangjans etc.
Union Home Minister & Minister of Cooperation Shri Amit Shah inaugurates a newly constructed Police Commissioner’s Office in Ahmedabad, built at a cost of ₹140 crore The new building will also be an attempt by the Ahmedabad Police to establish a new working system
The ‘Joint Interrogation Center’ in the building, ‘Tera Tujhko Arpan’ portal and the book ‘Cyber Saathi’ were also inaugurated
Modi ji has put forward the concept of pro-active, predictive and scientific approach for pro-active policing
Many innovations of Gujarat Police in the form of ‘E-GujCop’, body-worn camera and ‘Vishwas’ project, have established its identity as the most modern police force in the country
Gujarat Police’s campaign against narcotics is exemplary
Use of technology in three new criminal laws, will complete the judicial process in time for timely justice
Posted On: 03 OCT 2024 10:19PM by PIB Delhi
Union Home Minister and Minister of Cooperation Shri Amit Shah inaugurated the newly constructed Police Commissioner’s Office in Ahmedabad, Gujarat today. On the occasion, Chief Minister of Gujarat, Shri Bhupendra Patel along with other dignitaries attended the program.
In his address, Shri Amit Shah said that the new building of the Police Commissioner’s Office in Ahmedabad will not only enhance the facilities of the building but will also enable the Ahmedabad police to establish a new working system.
Union Home Minister stated that the sevenstorey Police Commissioner’s Office, built with modern technology at a cost of approximately ₹140 crores and covering an area of about 18,000 square meters, includes facilities for the fitness of personnel such as a gym, parking for citizens, CCTV cameras, fire safety equipment, and centralized Air conditioning. He mentioned that this modern building will not only ensure security but also houses a police museum that will showcase the measures taken for the security of Ahmedabad from the beginning to the present.
He said that a beautiful memorial has also been constructed here in the memory of the police personnel who were martyred to protect the citizens. Besides, a public convenience center and a control room have also been created which will cover every nook and corner of Ahmedabad and ensure the security of the entire city.
Shri Amit Shah stated that the new Police Commissioner’s Office building also saw the inauguration of the ‘Joint Interrogation Center’ and the ‘Tera Tujhko Arpan’ portal, along with the launch of the ‘Cyber Saathi’ book. The first two initiatives aim to raise awareness among people affected by cybercrime and help them recover their lost money. He mentioned that the establishment of the ‘Joint Interrogation Center’ was made so that central agencies and Ahmedabad police can conduct inquiries in a correct and scientific manner during riots, terrorist attacks, and other situations of unrest.
Union Home Minister explained that India’s internal security landscape has significantly changed over the past 10 years. A decade ago, there were three major hotspots in the country—Kashmir, the Northeast, and Naxal-affected areas—where bomb blasts were so common that they barely made the news. It was considered as normal. He said that under the leadership of Prime Minister Shri Narendra Modi, due to permanent and systematic measures over the past 10 years, and the dedicated work from a security and development perspective, violence in these three hotspots has reduced by 70 per cent. Shri Shah added that security agencies across the country, along with state police forces, have worked together to reduce mortality rate by 72 per cent in Kashmir, the Northeast, and Naxal-affected areas. He said that this success shows that in the coming days, ‘Naxal free India’ and ‘Terrorism free India’ are going to be a reality.
Shri Amit Shah said that Prime Minister Shri Narendra Modi has made efforts to bring about several changes in the police culture. Prime Minister Shri Narendra Modi has put before the country the concept of pro-active, predictive and scientific approach for pro-active policing. Shri Shah also mentioned that India has made a radical overhaul of the colonial-era criminal laws by creating three new criminal laws, and their implementation has already begun across the country. In these laws, provisions have been made for the use of technology to solve crimes, prevent crimes, complete prosecution quickly and punish as many criminals as possible.Keeping the next 100 years in mind, the laws have been designedto account for future technologies, so that there will be no need to change these laws over the next century.To prevent delays in investigations, prosecutions, and other judicial processes, it has been decided to impose time limits on police, lawyers, and judges on 83 instances of the judicial process.
Union Home Minister stated that after the implementation of the three new laws, the process of developing the necessary infrastructure has begun. Once this is in place, within the next three years, India’s criminal justice system will become the most modern in the world. He added that with the new laws in effect, the entire process of justice, from filing of an FIR up to justice from the Supreme Court, will be completed within three years, ensuring timely justice for the people.
Shri Amit Shah stated that Prime Minister Shri Narendra Modi has elevated India’s economy from the 11th to the 5th position globally, and by 2027, we are surely on track to become the world’s third-largest economy. At such a critical time, police officers need robust legal support to ensure the security of our nation, including cybersecurity, and to prevent economic crimes. The three new criminal laws will provide strong backing to police officers in their efforts.
Union Home Minister said that the Gujarat Police has made several technological innovations throughout its glorious history. Initiatives like ‘E-GujCop’, ‘body-worn cameras’, and the ‘Vishwas Project’ have helped Gujarat Police establish itself as one of the most modern police forces in the country, which is a matter of pride. He added that the way the Gujarat Police has launched a determined campaign against narcotics is commendable, and they are now cited as an example across the country for its investigation.
Shri Amit Shah also mentioned that Prime Minister Shri Narendra Modi has envisioned a ‘Viksit Bharat’ by 2047. Gujarat has always been a progressive state. This is the same Gujarat that used to experience frequent curfews in the 1980s and 1990s, but now the situation has changed, and a safe environment has been established in the state.
The below is attributable to Spokesperson Benjamin Suarato:
Today, Administrator Samantha Power traveled to Western Ukraine. She first visited a substation that provides energy to approximately 500,000 residents in the region and has been targeted in Russian air strikes. The Administrator saw new autotransformers purchased by USAID, and saw how, with USAID support, our Ukrainian partners have installed additional protective measures. The Administrator reaffirmed USAID’s commitment to supporting Ukraine in building its energy resilience and security in the face of Russia’s continued ruthless attacks on energy infrastructure.
Next, Administrator Power traveled to Lviv where she visited the site where eight people were killed in the Russian airstrike in Lviv on September 4 and paid respects at a memorial near their home. She then went to Urban Camp, a hub and community space for internally displaced persons, established by Ukrainian NGO Street Culture and supported by USAID, where she spoke with Lviv Mayor Andriy Ivanovych Sadovy and sat down with displaced Ukrainians to hear about their experiences.
Administrator Power then met with business leaders from Ukraine’s vibrant tech sector at the Lviv IT Cluster, which brings together over 300 technology companies from across Ukraine with USAID support. The IT Cluster leadership explained the enormous progress and potential of Ukraine’s tech sector as well as the challenges they’re facing because of Putin’s war on Ukraine. The group discussed joint work to expand private sector investment in Ukraine and Administrator Power emphasized that strengthening the resilience of economic sectors such as IT is a critical component of USAID’s assistance to Ukraine as it defends itself against Russia’s full-scale invasion and revitalizes its economy.
The Administrator concluded her visit with a tour of the historic city with the Mayor of Lviv Andriy Ivanovych Sadovyi.