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Category: Economy

  • MIL-OSI Canada: Governments of Canada and Manitoba Celebrate Opening of New Child-Care Facility in Fort Rouge

    Source: Government of Canada regional news

    September 23, 2024

    Governments of Canada and Manitoba Celebrate Opening of New Child-Care Facility in Fort Rouge

    – – –
    40 New Child-Care Spaces to Open this Fall: Sudds, Kinew


    Families with young children in Winnipeg will benefit from a new child-care facility opening its doors this fall, Families, Children and Social Development Minister Jenna Sudds and Premier Wab Kinew announced today.

    “With these new child-care spots in Winnipeg, we are planting the seeds for a brighter future – one where kids get to learn from the land and their community,” said Sudds. “We will keep working hard to create more spots to get kids off wait lists and into high-quality, affordable child care close to home. Every family deserves access to child care that gives their children the best possible start in life and we are committed to making that a reality.”

    S.P.L.A.S.H. Child Care Inc. in Winnipeg has expanded its operations to facilitate 40 new child-care spaces.  These new child-care spaces have been created through S.P.L.A.S.H.’s new Urban Learning Centre, which joins S.P.L.A.S.H.’s Early Learning Centre at 109 Pulford St. as well as S.P.L.A.S.H.’s two other facilities in Winnipeg for a total of 236 infant, preschool and school-age spaces. The new site will offer 10 preschool and 30 school-age spaces.

    The Manitoba government invested $215,000 in capital grant funding to create new school-age spaces through the Early Learning and Child Care Building Fund and provided an additional $13,000 in one-time start-up grant funding.

    “Affordable and accessible child care is the backbone of a strong economy where everyone can participate,” said Kinew. “This is an important step towards our commitment to create more child-care spaces for Manitoba families. This announcement is about making life better for families today and investing in our kids for the future.”

    The Government of Canada invested a further $175,000 under the Canada-Manitoba Early Learning and Child Care Agreement to create new preschool spaces through the Child Care Renovation Expansion Grant and provided $4,500 in one-time start-up grant funding. Annual operating funding for preschool-aged spaces will be provided to S.P.L.A.S.H via the Canada-Manitoba Canada-wide Early Learning and Child Care Agreement to ensure long-term sustainability of these new spaces, noted the minister.

    “It is important for Manitoba children and students to have the best possible learning environments throughout our province,” said Education and Early Childhood Learning Minister Nello Altomare. “S.P.L.A.S.H.’s expansion will also enable the centre to continue to provide exceptional programming rooted in Indigenous knowledge.”

    For more information about early learning and child-care in Manitoba, visit:  www.manitoba.ca/education/childcare/.

    For more information on the Canada-Manitoba Early Learning and Child Care agreements, visit: www.canada.ca/en/early-learning-child-care-agreement/agreements-provinces-territories/manitoba-canada-wide-2021.html.

    – 30 –

    MIL OSI Canada News –

    September 29, 2024
  • MIL-OSI New Zealand: Speech to 2024 Aerospace Summit

    Source: New Zealand Government

    Good morning, and thank you to Aerospace New Zealand and the committee for inviting me to attend the third annual Aerospace Summit. 

    Thank you also for all the work undertaken by the Aerospace New Zealand committee and your team in the delivery of so many outreach and educational activities around New Zealand. 

    I would also like to acknowledge the many international experts joining us at this Summit. I welcome your participation and thank you for your interest.

    I am an enthusiastic supporter of our aerospace sector, and it is a pleasure to be talking to a room full of people who feel as positive about the future of aerospace as I do. 

    This enthusiasm is also shared by the Government, as evidenced by the fact that for the first time we have a Minister for Space.

    It’s a role I’m very proud of but which also brings a real responsibility for improving the public understanding of just what space involves. Most people relate it simply to rockets but as everyone here knows there’s so much more to it – be it satellites, be it drones or be it the  data these platforms generate. One aspect of this new position I do wish to make clear is that the scope of my portfolio covers not only space activity but also emerging aviation technologies.

    Novel and groundbreaking aviation technologies are set to revolutionise aviation, as well as driving advancements that will impact our daily lives through technologies in communications, mapping and monitoring of land, disaster response and how we transport goods.

    The Government is ambitious for the possibilities for advanced aviation in New Zealand and its potential to grow the economy and boost productivity. 

    To realise that ambition we need to have the right regulatory settings to help unlock the growth of this part of the economy.

    It is the Government’s goal that by the end of 2025, New Zealand will have a world-class regulatory environment that allows rapid iteration and testing of advanced aviation vehicles and technology, while maintaining high standards of safety.

    I am pleased to announce that to achieve this, the Government has agreed to a set of actions to support and grow advanced aviation and remove unnecessary red tape. 

    This light touch regulatory approach, which will also cover experimental or developmental aircraft and systems, will significantly free up innovators to test their tech and ideas. 

    Once innovators get ready to export their technologies, they will transition into the current regulatory regime to allow them to demonstrate the integrity and credibility of their products, as international regulators will demand this. 

    We will also be engaging with the sector to establish permanent restricted airspace areas – or sandboxes – for exclusive use by advanced aviation companies.

    We will be updating other Rules to enable more timely decision-making.

    I look forward to having more to say on this in the coming months. 

    In the meantime, I am looking forward to visiting the Tāwhaki Aerospace Centre this afternoon, which is already playing an important role in ensuring companies have access to the right infrastructure to support them with testing and trialling innovative technology. 

    These reforms are just some of the steps the Government is taking to support the growth and development of our wider aerospace sector. 

    I am pleased to release today the New Zealand Space and Advanced Aviation Strategy, which sets out the Government’s ambitions for the sector and actions to achieve this, supported by principles on our broader space interests. 

    It succinctly brings together previous policy and strategy documents into one cohesive Strategy.

    It also highlights to a global audience the benefits of New Zealand as a location for aerospace activities.

    The new Strategy is on the New Zealand Space Agency website, and I encourage you to take a look.

    Thinking of that global audience, I have been fortunate enough to be able to travel internationally in my time as Minister for Space to promote our space and advanced aviation sectors and share how excited I am at the future we have ahead of us.

    I have visited international space agency facilities across a number of countries and continents and attended events such as the Space Symposium in Colorado Springs, and most recently the Australian Space Forum to announce a joint open call for Earth observation proposals with our neighbours across the Tasman.

    Through this travel, I have strengthened New Zealand’s international aerospace relationships with both government and sector partners. 

    Prime Minister Christopher Luxon and my ministerial colleagues have done the same. These international connections are important not only to drive progress in science, innovation and technology but also to build commercial connections and opportunities for our sector. We have much to offer and we are open for business.

    In another step to support the Government’s work to develop the sector, we will be conducting an economic survey. 

    This will provide an understanding of the size and productivity of the space and advanced aviation sectors to better support opportunities and overcome challenges to future growth. 

    We would like to get as clear of a picture as possible by ensuring everyone is included.

    This survey will begin later in the year, and I encourage you to contribute when the time comes.

    Fostering talent in aerospace-related fields is also important for the ongoing success of the aerospace economy. 

    Earlier this year, the Prime Minister announced the Prime Minister’s Space Prizes to celebrate the innovative, talented people in our aerospace sector and inspire the next generation.

    There are two prizes – one for Professional Excellence, which carries a $100,000 prize, and one for Student Endeavour, which carries a $50,000 award.

    Applications close on September 30 – which is just six days away – and I encourage those of you who haven’t yet applied to consider doing so. 

    Applications are also open for the 2025 New Zealand Space Scholarships. So, if you know a high-flying graduate student interested in working on NASA projects in the US next year, please encourage them to apply. These interns bring home invaluable skills and experience from their time away. 

    Another example of Government fostering talent in industry is the Ārohia Trailblazer Grant, a Callaghan Innovation fund which supports innovative New Zealanders with big ideas to take to market their world-leading innovations.

    I am very pleased to announce that four of the seven recipients of the latest round of funding are from, or are involved with, the aerospace industry.

    Congratulations to Astrix Astronautics, Emrod, Fabrum Solutions Limited, and Zenno Astronautics who, alongside other recipients Basis NZ, Toku Eyes and Zincovery Process Technologies, will each receive a share of around $17.5 million in co-funding.

    We recognise the significant achievements and contributions you all make to the success of the sector, and these are just some of the ways we celebrate and further encourage these activities.

    Thank you for your time and attention this morning. I encourage you to make the most of the rest of the Summit and I look forward to doing the same.

    MIL OSI New Zealand News –

    September 29, 2024
  • MIL-OSI Asia-Pac: Department of Telecommunications takes key initiatives as part of the Government of India’s 100-Day Programme

    Source: Government of India (2)

    Department of Telecommunications takes key initiatives as part of the Government of India’s 100-Day Programme

    These initiatives reaffirm to expanding and enhancing India’s Telecom ecosystem, for a more digitally empowered future

    Posted On: 23 SEP 2024 5:53PM by PIB Delhi

    Union Minister for Communications and Development of North Eastern Region (DoNER), Shri Jyotiraditya M. Scindia, briefed the media about achievements of Ministry of Communications (Department of Telecom & Department of Post) during a Press Conference held today at National Media Centre, New Delhi.  The Minister also launched ‘Ek Ped Maa Ke Naam’ Application.

     

     

    The Minister apprised the media that the Department of Telecommunications (DoT) has successfully completed several key initiatives as part of the Government of India’s 100-day programme. During this period, DoT has made significant strides in strengthening the four goals of a developed telecom ecosystem – Samavesit (ubiquitous connectivity fuelling inclusive growth), Viksit (developed India through triad of perform, reform and transform), Tvarit (accelerated development and swift resolution), and Surakshit (safely and securely). The major achievements of 100-day programme are:

    Samavesit

    • 4G Coverage to uncovered villages/ locations across India

    Under various initiatives funded by the Digital Bharat Nidhi (Erstwhile Universal Service Obligation Fund (USOF)), 4G mobile coverage is being expanded to uncovered villages across India. These efforts are focused on regions such as aspirational districts, the North-Eastern region, border areas, islands, and areas affected by left-wing extremism. A total of 7,101 4G mobile towers have been commissioned by Telecom Service Providers (Reliance Jio, Bharti Airtel & BSNL) under various Digital Bharat Nidhi funded 4G schemes including 4G Saturation scheme. Out of these 4G towers 2,618Towers have been made on-air since June 2024.

     

     

    • Expansion of 5G Mobile networks

    5G technology has reached almost all districts of India. As of today, 98% districts in India have presence of 5G technology thereby empowering citizens with highspeed data network. 5G networks have been rolled out in all States/ UTs across the country and more than 4.5 lakh 5G Base Transceiver Stations (BTSs) have been installed across the country.

     

     

    Viksit

    • 6G Accelerated Research Assistance

    Hon’ble Prime Minister Shri Narendra Modi launched the Bharat 6G Vision in March 2023 with the objective to be a front-line contributor in design, development and deployment of 6G technology by 2030. In line with the Bharat 6G Vision and to support India’s prominence in 6G technology and develop the 6G RAN for the world, the DoT invited proposals from academia, industry, and other bodies engaged in R&D. So far 111 project proposals have been processed for funding to expedite the research under “Accelerated research on 6G Ecosystem”.

     

    • 100 5G Labs 

    Labs with indigenously developed 5G technology are being set up at 100 institutions, equally distributed across four zones in the country. The labs are being set up with the aim of capacity building in new telecom technologies and creating use cases in various socio-economic sectors for 5G technologies in collaboration with academia and start-ups. From June 2024 onwards, 41 out of the total 100 labs have been installed making the cumulatively installed labs to 81.

     

     

     

    • Centres of Excellence (CoE) for 6G

     

    A Centre of Excellence (CoE) on “Classical and Quantum Communications for 6G” has been established at IIT Madras. Another MoU has been signed between the Telecom Centre of Excellence (TCOE) India and Visvesvaraya Technological University (VTU) – Visvesvaraya Research & Innovation Foundation (VRIF) to establish a Centre of Excellence (CoE) in Quantum Technology, focusing on associated 5G/6G technologies. These CoE will serve as a hub for innovation bringing together industry and academic experts to collaborate on cutting edge project in advance telecommunication technologies to foster and spearhead the development and deployment of 6G technology

     

    • Centre of Excellence (CoE) for Telecom Security

    A MoU has been signed between TCoE India and National Forensic Sciences University (NFSU) Gandhinagar for setting up of Centre of Excellence on Telecom Security. The MoU envisages strengthening the National cyberspace by securing the Telecom network and to develop an Indian telecom network security stack to enhance security of the nation’s communication infrastructure.

     

    • Leveraging Telecom data and capabilities to enable cross sectoral Infrastructure planning.

    Sangam Digital Twin with AI Driven Insights: Digital Twin with AI-Driven Insights is an initiative to revolutionize infrastructure planning. This two-stage initiative began with a creative exploration phase designed to build confidence among participants through networking events. Over 150 organizations and experts participated in Stage-I in the form of networking events held in July 2024, demonstrating a willingness and foundational capability to develop the envisioned ecosystem for advanced infrastructure planning. In the Stage-II of Sangam development and demonstration of specific use cases are being planned.

     

    PoC of Metro route planning: DoT, Delhi Metro Rail Corporation (DMRC) and Telecom Service Providers (TSPs) have successfully conducted a Proof of Concept (PoC) to demonstrate the feasibility of using aggregated telecom data for metro route planning addressing privacy challenges. PoC explored solution’s flexibility to evolve and tackle ridership issues in ongoing metro projects by accurately identifying catchment areas, analysing arrival times, assessing interchange durations, utilization optimize operations, generating an Origin-Destination (OD) matrix for metro network planning and improving ongoing operational strategies. The promising results achieved endorse the Sangam Digital Twin initiative and represent a significant first step.

    • Production Linked Incentive Scheme for Telecom and Networking Products

    To boost domestic manufacturing, investments and export in the telecom and networking products PLI scheme with a financial outlay of ₹ 12,195 Crores over a period of 5 years has been initiated. So far, 42 PLI beneficiary companies, collectively invested Rs. 3,718 crores achieved sales of Rs. 57,498 crore including export of Rs. 11,506 crores and direct employment of 22,315.

     

     

     

    Tvarit

    • Ease of Living and Ease of Doing Business

    MSME Certification assistance scheme: DoT launched reimbursement scheme aimed at easing financial burdens for startups and Micro & Small Enterprises (MSEs) in the telecom sector. With the objective of fostering domestic manufacturing, attracting investments and enhancing exports, the scheme will reimburse up to INR 50 lakhs per startup or MSE for testing and certification costs essential for product quality and market access.

    • Revised Standards of Quality of Service

    With an objective of improving the telecom network performance, benchmarks are will be gradually tightened for key network parameters like network availability, call drop rates, packet drop rates, etc. In this regard, TRAI has released its revised regulations, “The Standards of Quality of Service of Access (Wirelines and Wireless) and Broadband (Wireline and Wireless) Service Regulations, 2024 (06 of 2024)’.

     

    • Telecommunications Act, 2023 – Enforcement and framing of rules

    In order to update the existing laws and to address the challenges of the Telecom sector, Central Government enacted Telecommunications Act, 2023 on 24th Dec, 2023. The Act replaces colonial era’s Indian Telegraph Act, 1885 and Indian Wireless Telegraphy Act, 1933. Enforcement of its provisions and rules will enable effective and modern regulation of Telecom sector. It will provide clearly defined framework for Spectrum assignment and its optimal utilization, Effective and efficient RoW framework, Strong provisions for National Security and Public emergency, etc

    In accordance with section 1(3), the Central Government has on 21.06.2024 issued Gazette Notification enforcing sections 1,2, 10 to 30, 42 to 44, 46, 47, 50 to 58, 61 and 62 of the Telecommunications Act w.e.f. 26.06.2024. The Department has also, on 04.07.2024, notified sections 6 to 8, 48 and 59(b) of the Act w.e.f. 05.07.2024.

    Draft Rules for Security related provisions have been published for public consultation. Public consultation on draft rules for Adjudication, Amateur Station Operator and Commercial Radio Operator’s Certificate of Proficiency to operate Global Maritime Distress and Safety System has been completed. Two set of rules i.e. Telecommunications (Administration of Digital Bharat Nidhi) Rules, 2024 and Telecommunications (Right of Way) Rules, 2024 have come into force through gazette notification dated 31.08.2024 and 18.09.2024 respectively.

    • Spectrum Auction

    Spectrum Auction in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2500 MHz, 3300 MHz and 26 GHz bands was held in June 2024. A total of 141.4 MHz of spectrum in the 900 MHz, 1800 MHz, 2100 MHz and 2500 MHz bands were sold at a market determined price of Rs. 11340.78 crores.

    Surakshit

    • On-boarding State/UT Police on Digital Intelligence Platform

    DoT has developed an online secure Digital Intelligence Platform (DIP) under Digital Intelligence Unit (DIU) Project for sharing information related to misuse of telecom resources among the stakeholders on near real time basis for prevention of cyber-crime and financial frauds. Different stakeholders are being onboarded on it including Ministry of Home Affairs(MHA), law enforcement agencies, RBI, banks, financial institutions (FIs), GSTN, UIDAI and social media platforms. 32 States/UTs police, Securities Exchange Board of India (SEBI), National Payment Corporation of India (NPCI) have on boarded this platform during Jul-Aug 2024.

    Till date 750 users of various stakeholders have on boarded on DIP. These stakeholders include field units of Department of Telecommunications (DoT), telecom service providers (TSPs), MHA, Indian Cybercrime coordination centre (I4C), National Intelligence Agency (NIA), 32 States/UTs police, 460 banks, FIs, fintechs, Financial Intelligence Unit (FIU), SEBI, GSTN, IRCTC and social media platforms

    The Department of Telecommunications, through these 100 days achievements, reaffirm to expanding and enhancing India’s telecom infrastructure, ensuring seamless connectivity, promoting digital inclusion, fostering innovation and preparing the country for a more digitally empowered future.

     

    *****

     

    MG/PD/DP

    (Release ID: 2057958) Visitor Counter : 46

    MIL OSI Asia Pacific News –

    September 29, 2024
  • MIL-OSI Asia-Pac: Union Environment Minister Bhupender Yadav Kicks-off “Yuva Shakti for Viksit Bharat” Maharashtra chapter at NMIMS University, Mumbai campus

    Source: Government of India (2)

    Union Environment Minister Bhupender Yadav Kicks-off “Yuva Shakti for Viksit Bharat” Maharashtra chapter at NMIMS University, Mumbai campus

    Youth must play a pivotal role in the journey of Viksit Bharat: Union Environment Minister

    Government is preparing youth of today to build progressive India of tomorrow: Shri Bhupender Yadav

    Posted On: 23 SEP 2024 3:43PM by PIB Mumbai

    Mumbai, 23 September 2024

     

    “The Government is ensuring our ‘Amrit Generation’ is ready to enjoy the fruits of this transformative era. By focusing on quality education, skill development, job creation, and nurturing entrepreneurial ambitions, the government is preparing the youth of today to build the progressive India of tomorrow,” stated Union Minister for Environment, Forest & Climate Change Shri Bhupender Yadav. He was addressing the students at the Yuva Shakti for Viksit Bharat at Shri Vile Parle Kelavani Mandal (SVKM’s) Narsee Monjee Institute of Management Studies (NMIMS) in Mumbai today.

    In his keynote address, Shri Bhupender Yadav spoke about youth power and its importance in Prime Minister’s vision of Viksit Bharat. “The youth of India is dynamic and determined, and India’s path to becoming a Global Leader rest upon their shoulders. As we work towards environmental sustainability and climate resilience, Yuva Shakti must lead the charge in fostering a greener and more sustainable future,” he added. He also mentioned that the goal of the government is to convert youthful energy into a powerful force that lights up India’s sustainable future.

    The Minister also spoke about the critical importance of economic reforms for achieving a Viksit Bharat. He highlighted several initiatives aimed at transforming the economic landscape and promoting sustainability across various sectors. Key among the reforms is the Jan Vishwas Bill, which encompasses 183 provisions designed to streamline regulations. The Minister also pointed out the removal of several unnecessary compliance requirements, significantly simplifying processes for businesses and fostering a conducive environment for growth. He also mentioned that the government is also committed to promoting sports through various initiatives.

    “To facilitate economic development, the government has initiated the Gatishakti initiative, aimed at enhancing infrastructure and connectivity, essential for the growth of Micro, Small, and Medium Enterprises (MSMEs),” he remarked. Notably, the Minister mentioned the remarkable strides made in the startup ecosystem, highlighting the government’s support for entrepreneurship.

    The Minister stressed the necessity for consistency and continuity in all government policies, stating, “For a successful startup culture, we must focus on a circular economy. This includes sustainable practices in managing used oil, rubber, e-waste, and solid waste. Additionally, the establishment of a Green Fund is crucial for increasing green cover.”

    Highlighting the government’s vision for Net Zero emissions by 2070, the Minister reaffirmed the commitment to implement measures that reduce carbon footprints and promote a better environment. He urged citizens to refrain from single-use plastics and adopt a mindset of responsible consumption and self-discipline. He encouraged the youth to remain dedicated to sustainable practices, as their involvement is vital for India’s development.

    Highlighting the impact and importance of this event, Shri Yadav emphasised, “It is time for the youth to champion change in sustainable development, and that can spearhead key steps toward a truly developed India. The youth should initiate more tree plantations like the ones undertaken today at NMIMS, along with clean energy drives, and work shoulder-to-shoulder with the local communities.

    During the event the Minister took part in a tree plantation ceremony under the initiative ‘Ek Ped Maa Ke Naam’.

    Vice Chancellor, NMIMS University Dr Ramesh Bhat, in his welcome address emphasized, “We at NMIMS are committed to equipping our students with the skills and knowledge necessary to build a prosperous and sustainable nation.” President SVKM and Chancellor Shri Amrish Patel shared about his contribution towards environment and society through his tree plantation initiatives.

    The session concluded with a compelling video clip from the Prime Minister’s “Join My Bharat” campaign, encouraging active youth engagement in India’s developmental journey. The event brought together young women achievers, prominent YouTube influencers, and students to engage in discussions on climate change, green initiatives, and India’s future vision.

     

    * * *

    PIB Mumbai | DL/ DR

     

    Follow us on social media: @PIBMumbai    /PIBMumbai     /pibmumbai   pibmumbai[at]gmail[dot]com  /PIBMumbai     /pibmumbai

    (Release ID: 2057862) Visitor Counter : 46

    MIL OSI Asia Pacific News –

    September 29, 2024
  • MIL-OSI Asia-Pac: Raksha Rajya Mantri Inaugurates the State Representatives and Additional/Deputy Directors General Conference of NCC

    Source: Government of India

    Raksha Rajya Mantri Inaugurates the State Representatives and Additional/Deputy Directors General Conference of NCC

    Urges State Governments to support NCC Expansion

    Posted On: 23 SEP 2024 4:47PM by PIB Delhi

     

    Raksha Rajya Mantri Shri Sanjay Seth inaugurated the Joint State Representatives and Additional/Deputy Directors General (JS R&A/D) Conference of the National Cadet Corps (NCC) today on September 23, 2024 in New Delhi. Addressing the conference, he emphasized the NCC’s crucial role in nation-building. He highlighted how the organization helps shape disciplined, responsible, and motivated young citizens, while also fostering leadership skills across various aspects of life.

    Highlighting the NCC’s involvement in national initiatives such as the Swachh Bharat Abhiyan, International Yoga Day, Environment Protection, Digital Awareness and its commitment to societal welfare alongside traditional training, RRM urged state governments to honour their commitments in providing necessary manpower, funding, and infrastructure to support the expansion and enhancement of NCC’s presence in their regions.

    He informed that the government has recently approved an expansion plan to increase NCC cadet vacancies by three lakhs, raising the total strength from 17 lakhs to 20 lakhs in the coming years. This expansion will also see the inclusion of ex-servicemen as NCC instructors, utilizing their skills and experience to ensure high-quality training and create new employment opportunities for the veterans, he added.

    Lt. Gurbirpal Singh, DGNCC highlighted the progress and achievements of the NCC over the past two years as well as its plans for future expansion. He apprised the state representatives   and the Senior officials for establishing well equipped training & camping infrastructure in various parts of all states to ensure high degree of incentive and motivation for cadets.

    JS R&A/D is a biennial event which witnessed participation of Minsters of Education, Ministers of Youth & Sports as well as senior representatives from the Departments handling NCC affairs in their respective State. Senior officers from the Ministry of Defence along with DGNCC, the NCC Heads from all States and senior officers from HQ DGNCC, were also present in the conference. Conduct of NCC activities is a joint responsibility of the Central and State Governments in terms of policies, finances, administrative and other aspects. Therefore, this conference provides a platform to plan, implement and coordinate the NCC activities in the entire nation.

    *****

    VK/SR/MR/GC

    (Release ID: 2057903) Visitor Counter : 50

    MIL OSI Asia Pacific News –

    September 29, 2024
  • MIL-OSI Asia-Pac: Union Minister Dr. Mansukh Mandaviya Releases EPFO’s Provisional Payroll Data of July 2024

    Source: Government of India (2)

    Union Minister Dr. Mansukh Mandaviya Releases EPFO’s Provisional Payroll Data of July 2024

    EPFO Records All Time Highest Addition of 19.94 Lakh Net Members During July 2024; 10.52 Lakh New Members Enrolled with EPFO

    18-25 Age Group Leads with 8.77 Lakh Net Additions in July 2024, Making Up 59.41% of All New Members

    EPFO Adds Record 4.41 Lakh Net Female Members in July 2024; Marking Highest Monthly Addition for Women

    Posted On: 23 SEP 2024 3:08PM by PIB Delhi

    Union Minister of Labour & Employment and Youth Affairs & Sports released EPFO’s provisional payroll data of July 2024 in New Delhi today. He mentioned that EPFO has added 19.94 lakh net members in the month of July 2024, marking the highest recorded increase since payroll data tracking began in April 2018.

    Key highlights of the EPFO Payroll Data (July 2024) are as follows:

    Overall Membership Growth:

    EPFO added 10.52 lakh new members in July 2024, representing a 2.66% increase over June 2024 and a 2.43% rise compared to July 2023. This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programs.

    Rejoining Members:

    Approximately 14.65 lakh members who had exited the system rejoined EPFO in July. This figure represents a 15.25% year-over-year increase. These members opted to transfer their provident fund accumulations rather than withdraw them, thus maintaining their long-term financial security.

    Group 18-25 Leads New Membership:

    The highest growth was observed in the 18-25 age group, with 8.77 lakh net additions in July 2024. This marks the largest increase for this demographic since records began and reflects the continued trend of young people, mostly first-time job seekers, entering the organized workforce. This age group represents 59.41% of all new members added during the month.

    Growth in Female Membership:

    Around 3.05 lakh new female members joined EPFO in July 2024, reflecting a year-over-year growth of 10.94%. In total, 4.41 lakh net female members were added, marking the highest monthly addition for women since payroll tracking began, with a 14.41% increase compared to July 2023. This indicates a shift towards a more inclusive workforce with growing female participation.

    State-wise Contribution:

    The states of Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat accounted for 59.27% of the total net member additions in July 2024, collectively adding 11.82 lakh members. Maharashtra led among the States/UTs, contributing 20.21% of the total new members.

    Industry-wise Trends:

    Significant membership growth was seen in sectors such as manufacturing, computer services, construction, engineering, banking (non-nationalized), and private sector electronic media. Notably, 38.91% of net additions came from expert services, including manpower suppliers, contractors, and security services, among others.

    The above payroll data is provisional since the data generation is a continuous exercise, as updating employee record is a continuous process. The previous data hence gets updated every month. From the month of April-2018, EPFO has been releasing payroll data covering the period September 2017 onwards. In monthly payroll data, the count of members joining EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members exiting from coverage of EPFO and those who exited but re-joining as members, is taken to arrive at net monthly payroll.

    *****

    Himanshu Pathak

    (Release ID: 2057831) Visitor Counter : 82

    MIL OSI Asia Pacific News –

    September 29, 2024
  • MIL-OSI Asia-Pac: Raksha Mantri Shri Rajnath Singh formally inaugurates Sainik School, Jaipur

    Source: Government of India (2)

    Raksha Mantri Shri Rajnath Singh formally inaugurates Sainik School, Jaipur

    “The school to provide patriotic youth with proper guidance to join the Armed Forces & serve the motherland”

    “Sainik schools impart academic knowledge and inculcate the values of discipline, patriotism & courage for holistic development of youth”

    Posted On: 23 SEP 2024 3:08PM by PIB Delhi

    In line with the Government’s vision to establish 100 new Sainik Schools  pan-India in partnership mode, Raksha Mantri Shri Rajnath Singh formally inaugurated Sainik School, Jaipur in Rajasthan on September 23, 2024. Of the 100 schools, Ministry of Defence has approved 45 in collaboration with state governments, NGOs and private schools. Forty (40) of these schools have started operations, and Sainik School, Jaipur is among them.

    In his address, the Raksha Mantri exuded confidence that the school will prove to be a boon to the patriotic youth of the state as proper guidance and necessary infrastructure will be provided to them to join the Armed Forces and serve the nation. “Rajasthan is a land of bravehearts like Maharana Pratap, Prithviraj Chauhan, Maharaj Surajmal and Sawai Jai Singh. These heroes are a motivation to the younger generation to join the military. This new Sainik school will provide a direction to them to serve their motherland,” he said.

    Shri Rajnath Singh stated that the PPP-model is generally considered as ‘Public-Private-Partnership’, but the collaboration is now moving away from its standard definition, and is now being seen as ‘Private-Public-Partnership’. “The private sector is now in the driver’s seat of the country’s economy, contributing significantly in agriculture, manufacturing and service sectors. Through these new Sainik schools, the private and public sectors will come together and provide the best education to our future generations,” he added.

    Terming education as the most fundamental element in the development of the nation, the Raksha Mantri highlighted the efforts being made by the Sainik Schools towards ensuring the physical, mental & social development of children, thereby creating a stronger future generation. He underlined the fact that Sainik schools not only impart academic knowledge, but also inculcate the values of discipline, patriotism and courage. The all-round development of the personality of students ​​inspires them to take the nation forward, he added.

    Shri Rajnath Singh mentioned the fact that the current Chief of the Army Staff General Upendra Dwivedi and Chief of the Naval Staff Admiral Dinesh K Tripathi are the shining products of Sainik School, Rewa. He added that not just the Armed Forces, the students of Sainik Schools can choose any other career and serve the nation in their own way. He urged the students to never give up and continue working hard to achieve their desired goals.

    The 100 new Sainik Schools in partnership mode are apart from the existing 33 Sainik Schools already functioning under the erstwhile pattern. These new schools, besides their affiliation to respective education boards, will function under the aegis of Sainik Schools Society and follow its Rules & Regulations. In addition to their regular affiliated board curriculum, they will impart education of Academic Plus Curriculum to the students of Sainik School pattern.

    The curriculum includes value-based initiatives such as debates on issues like gender equality & environment protection, skill-based training, extra-curricular activities, community service, physical training, NCC, tours & excursions and motivational talks. The aim of the Academic Plus Curriculum is to ensure holistic development of students to make them a contributing member in the progress of the Nation.

    In September 2023, Sainik Schools Society, Ministry of Defence had signed a Memorandum of Agreement with Shri Bhawani Niketan Shiksha Samiti for the establishment of a new Sainik School at Shri Bhawani Niketan Public School, Jaipur.

    Deputy Chief Minister of Rajasthan Smt Diya Kumari and Minister of Youth Affairs & Sports, Government of Rajasthan Col Rajyavardhan Rathore (Retd) were among the dignitaries present on the inauguration of Sainik School, Jaipur.

    *****

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    (Release ID: 2057832) Visitor Counter : 78

    MIL OSI Asia Pacific News –

    September 29, 2024
  • MIL-OSI United Nations: Committee on Enforced Disappearances Opens Twenty-Seventh Session

    Source: United Nations – Geneva

    Hears that Enforced Disappearances Are on the Increase as a Result of National and International Conflicts and Growing Polarisation Within and Between Countries

    The Committee on Enforced Disappearances this morning opened its twenty-seventh session, during which it will examine the reports of Morocco, Norway and Ukraine on their implementation of the provisions of the International Convention on the Protection of All Persons from Enforced Disappearance.

    Opening the session, Mahamane Cisse-Gouro, Director, Human Rights Council and Treaty Mechanisms Division, Office of the United Nations High Commissioner for Human Rights, and Representative of the Secretary-General, said the Committee’s agenda deserved the world’s full attention at a time when enforced disappearances were on the increase as a result of national and international conflicts, and growing polarisation within and between countries.  In times like these, the vital role of human rights mechanisms to protect and promote human rights became even more obvious.

    Mr. Cisse-Gouro welcomed that, since the last session, Thailand, South Africa, Côte d’Ivoire and Bangladesh became parties to the Convention, which now had 76 States parties.  He expressed hope that the World Congress on Enforced Disappearances, which would be held in Geneva, Switzerland on 15 and 16 January 2025, would contribute to efforts to achieve universal ratification.

    He also said he was pleased that, since the beginning of the Committee’s urgent action procedure, 512 urgent actions had been closed following the location of the disappeared person, including 15 since the last session.  Out of the 512 located persons, it was particularly heartening that 408 were located alive.

    Olivier de Frouville, Committee Chairperson, in his opening statement, said the session was opening in a context that was worrying for the future.  Conflicts of all kinds were multiplying and claiming thousands of victims on all continents.  In this context, the practice of enforced disappearances, far from receding, was spreading throughout the world.

    Mr. de Frouville said there could be no human rights without an effective rights protection system, but the treaty bodies system was dramatically under-resourced.  The Committee was therefore pleased by the adoption yesterday of the Pact for the Future by the General Assembly.  The Pact instructed the Secretary-General “to assess the need to provide the human rights protection mechanisms of the United Nations system, including the Office of the High Commissioner, with adequate, predictable, increased and sustainable funding to enable them to carry out their mandates efficiently and effectively.”

    Mr. de Frouville concluded by expressing solidarity with the victims of enforced disappearances, including the disappeared, their families and loved ones, who, day after day, suffered the torture of not knowing what had become of the victims.

    During the meeting, Shui-Meng Ng, the wife of Sombath Somphone, a victim of enforced disappearance in Lao People’s Democratic Republic, recounted her husband’s disappearance and her subsequent efforts seeking truth, justice and reparation. 

    Committee Expert Barbara Lochbihler provided the Committee’s response to Ms. Ng’s statement, thanking her for sharing her story and presenting actions undertaken and planned by the Committee concerning Mr. Somphone’s case and the broader fight against enforced disappearances.

    Before closing the meeting, the Committee adopted its agenda for the session.

    All the documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Webcasts of the meetings of the session can be found here, and meetings summaries can be found here.

    The Committee will next meet in public at 3 p.m. this afternoon, Monday, 23 September, to consider the initial report of Ukraine (CED/C/UKR/1). 

    Statements

    MAHAMANE CISSE-GOURO, Director, Human Rights Council and Treaty Mechanisms Division, Office of the United Nations High Commissioner for Human Rights, and Representative of the Secretary-General, said the Committee’s agenda was as busy as ever and deserved the world’s full attention at a time when, sadly, enforced disappearances were on the increase as a result of national and international conflicts, and growing polarisation within and between countries. 

    There were multiple crises affecting the globe today.  In times like these, the vital role of human rights mechanisms to protect and promote human rights became even more obvious.  They communicated to States their human rights records and recommended ways to rectify what had gone wrong, bring justice to victims, and adopt measures to protect human rights and prevent their violation.  Mr. Cisse-Gouro said human rights were regulators and correctors of power dynamics gone awry. International cooperation, grounded in human rights, was the channel all had to effect change and to address the massive challenges of the time. 

    The work of the treaty bodies, including this Committee, was key to make this a reality.  The guidance and recommendations they provided, and the ongoing interaction they had with States, victims, civil society organizations, and national human rights institutions through the different mandated procedures, helped to identify ways to prevent and address human rights violations.

    In times like these, the human rights mechanisms benefitted from increased synergy and mutual reinforcement. Mr. Cisse-Gouro noted with pleasure that reference was made to the Committee’s general comment on enforced disappearances in the context of migration in the report of the Human Rights Council’s intersessional panel discussion on the human rights of migrants. This was an excellent example of mutual reinforcement.

    The Committee had continued to promote mutual reinforcement in all its activities.  Since the last session in February, it had responded positively to more than 15 requests for training and consultations submitted by States and civil society actors around the world to promote the ratification and implementation of the Convention. 

    On 30 August, the International Day of the Victims of Enforced Disappearances, the Committee issued a joint statement with the Working Group on Enforced or Involuntary Disappearances, the Inter-American Commission on Human Rights, the African Commission on Human and Peoples’ Rights, the Council of Europe Commissioner for Human Rights, and the representatives of Indonesia and Thailand to the Intergovernmental Commission on Human Rights of the Association of Southeast Asian Nations. In this statement, the Committee urged all actors to immediately join forces to support victims of enforced disappearances and ensure that their rights and obligations, as codified in regional and international treaties, became a reality for all.  The Committee called on actors to take part in the World Congress on Enforced Disappearances, which would be held in Geneva, Switzerland on 15 and 16 January 2025. 

    On the same occasion, the High Commissioner for Human Rights said that there was no justification for enforced disappearances.  Yet, every day, this heinous crime continued to silence and destroy lives.  The World Congress in January 2025 was an opportunity to establish a strategy and network so that the world could finally end this tool of terror.  Bringing together experts, victims, States and other key actors in the context of this first World Congress on Enforced Disappearances to share their experiences and good practices, and to establish a common strategy to promote the ratification of the Convention and its implementation, was indeed a unique opportunity that needed to be fully seized.

    In times like these, it was particularly welcome that, since the last session, Thailand, South Africa, Côte d’Ivoire and Bangladesh became parties to the Convention, which now had 76 States parties.  The Office celebrated these ratifications, while continuing its efforts to achieve universal ratification.  It hoped that the World Congress would contribute to reaching this objective. 

    The Office of the High Commissioner continued to actively support efforts to strengthen the treaty body system, which was the key topic at the thirty-sixth annual meeting of the treaty body Chairpersons in New York in June 2024.  The Chairpersons met with the Secretary-General and other senior United Nations officials, civil society and Member States.  The Chairs made marked progress in terms of aligning working methods, and they advocated together for enlarged support for the implementation of the treaty body strengthening process.  At a well-attended meeting with Member States, the Chairs called for resources to implement the predictable review schedule and other key strengthening proposals.

    A heavy programme for the next two weeks was before the Committee.  It would examine three States parties under the Convention: Ukraine, Morocco and Norway. It would also adopt lists of issues and lists of themes for Belgium, Lesotho, Seychelles and Serbia and consider requesting ad hoc additional information. 

    Also before the Committee was the report on urgent actions.  As of today, the Committee had registered a total of 1,893 urgent actions.  Out of these, 1,101 were “living cases” on which the Committee needed to carry out comprehensive follow-up, either individually or in groups.  Mr. Cisse-Gouro said he was particularly pleased that since the beginning of the procedure, 512 urgent actions had been closed following the location of the disappeared person, including 15 since the last session.  Out of the 512 located persons since the beginning of the implementation of the procedure, it was particularly heartening that 408 of them were located alive.  The Committee would also examine one individual complaint, and further discuss projects related to short-term enforced disappearances and to women and enforced disappearances. 

    Mr. Cisse-Gouro recalled the United Nations’ zero tolerance policy on intimidation and reprisals.  The Secretary-General had asked all entities to be vigilant and committed in this area. Civil society and victims provided crucial information and testimony to the treaty bodies and provided contextual information essential to their work.  States needed to ensure adequate protection against any act of intimidation or reprisal against those who cooperated or had cooperated with the United Nations and its mechanisms. 

    Mr. Cisse-Gouro concluded by expressing his support to the Committee and wished it a fruitful and productive session.

    OLIVIER DE FROUVILLE, Chairperson of the Committee on Enforced Disappearances, said the session opened in a context that was worrying for the future. Conflicts of all kinds were multiplying and claiming thousands of victims on all continents.  Power politics seemed to be back in international relations more than ever and, within States, merchants of hatred were stirring up mistrust between communities and preparing for tomorrow’s conflicts.  The disastrous consequences of global warming were increasingly being felt, causing natural disasters that were additional factors of instability.

    In this context, the practice of enforced disappearances, far from receding, was spreading throughout the world. Even when enforced disappearance took different forms, the objective always remained the same: to deny the disappeared person any humanity both as a legal person and as a natural person, and to spread terror among those close to them, who suffered the torture of uncertainty, a terror that quickly spread throughout society.  But victims were resilient, as were societies. 

    Experience showed that every time criminals wanted to impose silence and obedience through enforced disappearance, victims’ families assembled in public squares and brandished their photos, asking the simple and fundamental question: “where are they?” Above all, it was women, mothers, sisters, wives who had the courage to call out armed men, because no amount of oppression or extreme violence could make them accept that their loved ones had evaporated into thin air.  Their determination eventually gave rise to a new norm of international law: the complete prohibition of enforced disappearance.  Their struggle had also led to the adoption of the Convention, in which States pledged to take all measures to make this prohibition effective and to eliminate the practice of enforced disappearance.

    It was with a view to fulfilling this promise that several actors joined forces to organise the first World Congress on Enforced Disappearances, which would be held in Geneva on 15 and 16 January 2025.  Mr. de Frouville thanked the High Commissioner Völker Turk for agreeing to be present at the opening session of the Congress, as well as his Office and States that were co-sponsoring the event.  The Congress’ programme and plan of action were the result of a consultation process carried out since March 2024 with States and all other stakeholders, including victims’ associations, civil society organizations. and national human rights institutions.  Mr. de Frouville invited all States, including parties and non-parties to the Convention, and all stakeholders who were willing to commit themselves to acting, even modestly, against enforced disappearance to come to the meetings of the Congress.

    The fight for respect for human rights needed to be based on robust institutions and procedures.  There could be no human rights without an effective rights protection system.  However, the treaty bodies system was dramatically under-resourced; its budget was ridiculous in view of the magnitude of its task.  In 2023, its budget was 459 million United States dollars, of which only 178 million was financed from the United Nations regular budget, forcing the Office of the High Commissioner to find 280 million in extra-budgetary resources.  This sum did not cover all the estimated needs, which would have required an additional 171 million.  This amount seemed ludicrous in view of the major role that the United Nations system played today in defending human rights and helping States and civil society to defend them in a world where they were threatened more than ever.

    The Committee was therefore pleased by the adoption yesterday in New York of the Pact for the Future by the General Assembly.  Among other interesting provisions, Measure 46 of the Pact instructed the Secretary-General “to assess the need to provide the human rights protection mechanisms of the United Nations system, including the Office of the High Commissioner, with adequate, predictable, increased and sustainable funding to enable them to carry out their mandates efficiently and effectively.” 

    This was in line with the call made by the Chairpersons of the treaty bodies at their thirty-sixth meeting held last July in New York.  The Chairs told the Secretary-General and Member States that the treaty bodies needed, before the end of the year, a decisive resolution that would enable them to quickly implement the predictable timetable for the consideration of States’ reports.  The immediate costs associated with this change would in fact represent a saving in the medium and long term, since the change would be accompanied by a longer reporting period of eight years, and economies of scale resulting from better coordination and complementarity between the 10 Committees and the rest of the system.  The Committee Chairs expressed their hope that States would seize this opportunity to strengthen the treaty system decisively.

    A year ago, a conference was held on a joint declaration on illegal intercountry adoptions drafted by the Committee on Enforced Disappearances, the Committee on the Rights of the Child, and several Special Procedures.  The conference was an opportunity to hear from victims from all parts of the world, including adoptees and biological parents searching for their missing children. A documentary about the victims’ story and their quest for the truth would be premiered in Geneva, in parallel with this session, on 1 October 2024 in Auditorium A2 of the Maison de la Paix. The screening would be followed by a debate featuring the victims, who would testify about their experiences.  A short excerpt from the documentary would also be shown at the closing of this session on 4 October.

    Mr. de Frouville concluded by expressing solidarity with the victims of enforced disappearances, including the disappeared, their families and loved ones, who, day after day, suffered the torture of not knowing what had become of the victims.

    SHUI-MENG NG, wife of Sombath Somphone, victim of enforced disappearance in Lao People’s Democratic Republic, said her husband was disappeared in December 2012 in front of a police post, where he was pushed into a white vehicle and taken away.  Everything that happened at the time of the disappearance was recorded by police traffic cameras.  He was a community worker who helped poor farmers to improve their livelihoods.  He also worked with young people to find solutions for themselves and become more resilient, and with local communities to help them prepare and respond to climate change.  Ms. Ng said she did not know why he had been disappeared, but said his work may have annoyed powerful people, who felt he was threatening their interests.

    Ms. Ng did not know if her husband was still alive.  This was the pain that victims of enforced disappearance suffered.  The pain remained with her every day, despite the passing of time.  The fear that he would not come back loomed larger and larger with each day, and the hope that he would return was fading.

    Enforced disappearance was the most criminal violation of human rights.  Ms. Ng called on the Committee and all States to appeal to the Government of Lao People’s Democratic Republic to reveal the truth regarding this enforced disappearance.  Ms. Ng had appealed to the authorities and received no information, with authorities simply stating that the investigation was ongoing.  The hope that she would receive truth and justice was becoming more remote, but she said that she would not give up.  She would continue to raise the case of her husband at every opportunity, seeking news about what happened to him, as well as truth, justice and reparation until her last breath.

    Ms. Ng urged the Committee to not forget the victims and their families.  There were more than 14,000 cases of enforced disappearance before the United Nations.  This was unacceptable in a world where governments claimed to protect their citizens from enforced disappearance.  The Lao People’s Democratic Republic was a signatory to the Convention but had not ratified it.  It nevertheless needed to uphold the spirit of the Convention.  In closing, Ms. Ng appealed for the safe return of her husband.

    BARBARA LOCHBIHLER, Committee Expert, thanked Ms. Ng for sharing the day that changed her life, the struggle that had defined her life ever since, and the pain that remained with her every day.  This case was particular in several respects.  Sombath Somphone was a well-known, dedicated and passionate community worker.  He was honoured with awards beyond his country.  His disappearance did not happen mysteriously in an unknown place but was recorded by police traffic cameras. 

    International non-governmental organizations like Amnesty International and Human Rights Watch had campaigned on his behalf, and international media had reported on the case.  The European Parliament had called for his release, as had parliamentarians from the region.  United Nations bodies, including the Human Rights Committee, had questioned the Lao Government on the issue.  Ms. Ng’s tireless efforts were based on her professional expertise, her profound knowledge of international structures, and her experience in international solidarity networking.  Despite these efforts, Sombath Somphone remained disappeared, his fate and whereabouts still unknown to his family and friends.

    Pain and suffering remained with the victims of enforced disappearance every day despite the passing of time, because with time hope faded.  Ms. Ng and Mr. Somphone’s supporters had been confronted with ignorance, disregard, inaction, negligence and outright lies from authorities.  This was what so many victims of enforced disappearance had to deal with, often exacerbated by reprisals and existential distress.  Mr. Somphone’s case clearly showed that an enforced disappearance had not only serious consequences for victims’ family and friends but also had a chilling effect on the civil society of the given community or country.  After Mr. Somphone’s disappearance, civil society organizations in Lao People’s Democratic Republic were in fear, becoming more careful in their work or even inactive.  This surely pleased those responsible for Mr. Somphone’s disappearance.

    Ms. Ng, as with victims in so many countries, rightly had high expectations of the Committee.  However, the Government of Lao People’s Democratic Republic had signed but not ratified the Convention, so the Committee had no formal means to review the situation in the State or ask for information on particular cases.  Unfortunately, this applied to many countries in Asia, where only a few States had ratified the Convention. 

    The Committee was sincerely committed to change this, intensifying its outreach to governments and the broader human rights movement.  Last year, it had a fruitful meeting with the Association of Southeast Asian Nations’ Intergovernmental Commission on Human Rights. In November, the regional office of the High Commissioner for Human Rights and the Committee would organise several workshops with State and civil society organization representatives in Bangkok, and in January, the World Congress on Enforced Disappearance would gather activists and diplomats, victims and United Nations representatives to discuss ways forward in the fight against enforced disappearances.

    Regrettably, the impact of a United Nations treaty body had its limitations.  Essential for things to change was serious political will by the Government to act.  The Committee would appeal to the Lao Government to demonstrate this political will and would never forget the victims.  Ms. Lochbihler thanked Ms. Ng wholeheartedly for addressing the Committee, congratulating her for her passion and energy, and for not being discouraged by years of ignorance and denial.  She expressed hope that the search for Ms. Ng’s husband would one day bring to light what really happened, as Ms. Ng had the right to know the truth.

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

     

     

    CED24.006E

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI China: Summit of the Future reaches consensus on UN updates to address challenges

    Source: China State Council Information Office 3

    Philemon Yang, president of the General Assembly of the United Nations, speaks at the Summit of the Future at the UN headquarters in New York, Sept. 22, 2024. [Photo/Xinhua]

    The Summit of the Future opened at the United Nations (UN) headquarters in New York on Sunday, with the adoption of a Pact for the Future, as well as its annexes the Global Digital Compact and the Declaration on Future Generations, which cover a broad range of themes including peace and security, sustainable development, climate change, digital cooperation, human rights, gender, youth and future generations and the transformation of global governance.

    The Pact for the Future is the UN’s master plan for tackling challenges that lie ahead for humanity, with 56 “actions” covering everything from peacekeeping to the potential threats posed by artificial intelligence. The pact underlines the “increasingly complex challenges” to world peace, notably the threat of nuclear war, with the document reiterating the UN’s core tenets.

    The pact promises to accelerate efforts to attain the 2030 Sustainable Development Goals (SDGs), which aim for the eradication of extreme poverty by 2030, an intensified battle against hunger, promotion of gender equality and education. Most of the objectives were set in 2005, but are far from being realized. Against that backdrop, and with poor countries particularly mobilized for change, the pact especially calls for “reform of the international financial architecture.”

    What UNGA president says?

    “We stand at a crossroads of global transformation, facing unprecedented challenges that demand urgent, collective action,” Philemon Yang, president the UN General Assembly, said at the opening segment of the two-day summit. “From conflict and climate change to the digital divide, from inequalities to threats against human rights, together, we all face profound challenges. Yet, alongside these challenges, there is hope,” because challenges come along with opportunities.

    The Pact for the Future represents the world body’s pledge not only to address immediate crises, but lay the foundations for a sustainable, just, and peaceful global order, for all peoples and nations, he said, adding that the commitments embodied in the pact and its annexes reflect the collective will of UN member states to promote international peace and security, invigorate implementation of the SDGs, foster just and inclusive societies, and ensure that technologies always serve the common good of humankind.

    “The Summit of the Future is a call to action. We must shape our future to protect ourselves and our planet Earth,” said the president. “Action that recommits us to the principles of international law, the goals of the 2030 Agenda for Sustainable Development and the promise of the United Nations Charter to save future generations from the pain of war.”

    The world body’s mission is to eradicate poverty in all its forms, tackle inequalities, and promote peace and security, tolerance and respect for diversity, and the summit offers a historic opportunity to ensure that progress is shared equitably across all nations and communities everywhere, he said.

    “We have an obligation to harness the power of science, technology, and innovation, in order to prepare the future of humankind. It is also important that we reproduce our human successes across generations all the time,” noted the president. “Let us continue our efforts to reform and strengthen global institutions that support peace, security, sustainable development, and financial stability.”

    What UN secretary general says?

    “I called for this summit to consider deep reforms to make global institutions more legitimate, fair and effective, based on the values of the UN Charter,” said UN Secretary General Antonio Guterres at the meeting. “I called for this summit because 21st century challenges require 21st century solutions: frameworks that are networked and inclusive; and that draw on the expertise of all of humanity … our world is heading off the rails — and we need tough decisions to get back on track.”

    Conflicts are raging and multiplying, from the Middle East to Ukraine and Sudan, with no end in sight, he said, adding that the world’s collective security system is threatened by geopolitical divides, nuclear posturing, and the development of new weapons and theaters of war, while resources that could bring opportunities and hope are invested in death and destruction.

    “In short, our multilateral tools and institutions are unable to respond effectively to today’s political, economic, environmental and technological challenges. And tomorrow’s will be even more difficult and even more dangerous,” noted the secretary general, stressing that things are changing fast but the world’s peace and security tools and institutions, as well as its global financial architecture, reflect a bygone era.

    Technology, geopolitics and globalization have transformed power relations and the world is going through a time of turbulence and a period of transition, he addressed the meeting. With the adoption of the Pact for the Future, the Global Digital Compact and the Declaration on Future Generations, pathways are opened to new possibilities and opportunities — a breakthrough on peace and security reforms to make the Security Council more reflective of today’s world is promised.

    These three landmark agreements are a step-change toward more effective, inclusive, networked multilateralism, said Guterres, noting that their implementation will prioritize dialogue and negotiation, end the wars tearing the world apart, and reform the composition and working methods of the Security Council. “To rebuild trust, we must start with the present and look to the future. People everywhere are hoping for a future of peace, dignity, and prosperity.”

    What Summit of the Future Means?

    In 2020, the United Nations turned 75 and marked the occasion by starting a global conversation about hopes and fears for the future. This was the beginning of a process that would eventually lead, four years later, to the convening of the Summit of the Future, a major event this September, just before the annual high-level debate of the General Assembly.

    The summit was conceived at the height of the COVID-19 pandemic, when there was a perception at the UN that countries and people pulled apart instead of cooperating to face this global threat.

    “We were really confronted with the gap between the aspirations of our founders, which we were trying to celebrate at the 75th anniversary, and the reality of the world as it is today,” said Michele Griffin, the policy director of the summit.

    UN member states tasked Guterres to come up with a vision for the future of global cooperation. His answer to their call was “Our Common Agenda,” a landmark report with recommendations on renewed global cooperation to address a host of risks and threats, and a proposal to hold a forward-looking summit in 2024.

    The event consists of sessions and plenaries based around five main tracks — sustainable development and financing; peace and security; a digital future for all; youth and future generations; and global governance — and other topics that cut across all of the work of the UN, including human rights, gender equality and the climate crisis.

    The immediate outcome is the finalized version of the Pact for the Future, with the Global Digital Compact and the Declaration for Future Generations as annexes, all of which were adopted by member states during the summit on Sunday.

    MIL OSI China News –

    September 29, 2024
  • MIL-OSI Australia: Activist shareholders are becoming more efficient, more sophisticated and better resourced

    Source: Allens Insights

    How companies can stay ahead of evolving campaigns 6 min read

    Shareholder activists are increasingly using novel tactics to influence the strategies of companies. While campaigns continue to focus on the full spectrum of key issues like M&A activity, business operations and strategy, regulatory concerns and ESG-related matters, we are seeing a change in the type of shareholder launching campaigns. Large institutional players and funds (including super funds) are moving into this space, resulting in better-funded and more sophisticated campaigns. Activists are also increasingly willing to take campaigns public without first engaging with the company, meaning they are less predictable.

    This escalation underscores the need for companies and boards to understand the interests of their stakeholders and anticipate potential activist agendas, and to take a proactive approach to managing those issues in order to be prepared and minimise the risk of becoming a target of a campaign.

    In this Insight, we discuss recent shareholder activism trends in Australia, explore some of the novel tactics used by activists and discuss strategies for companies to prepare for an activist campaign.

    Key takeaways 

    • With large institutional players and funds (including super funds) becoming more active, campaigns are becoming more efficient, sophisticated and resourced.
    • There has been an increasing trend for activists to go public without prior engagement with the company, meaning an impending campaign is not always easy to identify or predict.
    • The tactics and objectives of activist shareholders are wide-ranging, with shareholders using novel tactics such as fast-paced public campaigns through online platforms and seeking access to internal company documents.
    • To mitigate against these risks and disruption to the business, companies and boards must plan and execute effective strategies that anticipate and respond to activist campaigns.

    Who is launching campaigns?

    Super funds and other large institutional investors are increasingly pursuing an active role in the oversight of their investments – which is pertinent, given super funds currently hold an interest in approximately 34% of the ASX, which is estimated to eventually increase to more than 50%.1 Further, the Australian market has seen activist investment firms, including Australian-based hedge funds, join forces to exert greater influence over company strategy. 

    Key issues driving activists

    M&A activity

    Where a prospective M&A opportunity requires shareholder approval, then by its nature, it needs to be viewed favourably by shareholders to satisfy any applicable approval thresholds. However, even where shareholder approval isn’t being sought, we are seeing a rise in shareholders using their influence to oppose or otherwise alter the terms of M&A activity, putting pressure on the company to pursue alternative strategies or alter the terms of a deal. Tactics used by shareholders to exert influence on emerging M&A transactions can range from confidential non-public engagement with the company, to (increasingly) public criticism of the deal and launching a campaign to actively oppose the relevant transaction and seek support from other shareholders. For instance, earlier this year, Pendal Group, Qantas’ largest investor, publicly voiced concerns about Qantas’ ability to meet projected earnings margins amidst plans to purchase aircraft assets worth over $3 billion. Following the widespread criticism, the company was reported to have pulled back from public presentations on the matter. Whitehaven was also targeted by Bell Rock, a hedge fund investor, as it pursued a transaction to acquire metallurgical coal assets from BHP. The public campaign opposed the proposed acquisition and use of Whitehaven funds, and subsequently targeted the company’s remuneration policies, including writing letters to Whitehaven shareholders and creating a website encouraging shareholders to take action at the upcoming AGM. It culminated in Whitehaven applying to the Panel seeking a declaration of unacceptable circumstances (see our Insight for more details on Bell Rock’s misadventure here).

    We have seen an increase in highly publicised activist campaigns that have successfully resulted in shareholders rejecting takeover bids and schemes of arrangement. Historically, shareholders opposing M&A activity were often competing bidders seeking to advance their own position. Recently, there has been an increase in campaigns by shareholders that are not competing bidders, but rather they oppose the transaction because they see the proposal as opportunistic or otherwise have different views on the longer term value of the company. Notable recent examples are AustralianSuper’s opposition to the Origin takeover and Tanarra Capital’s push for change at Bapcor.

    Business operations and strategy 

    Shareholders have a clear incentive to pursue an activist campaign against a company where, in the eyes of the activist, there are perceived strategy or governance shortcomings or an underperforming share price or asset base.

    Activists can and more frequently will look to challenge corporate strategies in the pursuit of what they perceive as better value or alignment with long-term growth objectives. In May this year, an Australian-based oil and gas producer faced shareholder dissent at its AGM and received a ‘first strike’ against its remuneration report. Shareholders had been advocating for a higher dividend payout ratio and a greater return of cash.

    Activist investment firms, in particular, are increasingly making public statements regarding their own business strategies for investee companies – for example, recommending dividends and buybacks over M&A activity and development. As mentioned earlier in this article, Bell Rock’s campaign against Whitehaven was borne from the hedge funds’ dissatisfaction with the corporate strategy to cease a buyback and deploy the capital on an M&A opportunity. Lendlease, similarly, experienced significant pressure from activist firms Tanarra Capital, Allan Gray, and HMC Capital to refocus its activities on domestic operations rather than offshore expansion.

    Regulatory concerns

    Australian companies and boards are navigating Australia’s ever-changing and complex regulatory landscape. With increasing shareholder expectations regarding a company’s legal and regulatory compliance, we are seeing a rise in shareholders advocating for changes that they believe will enhance compliance, protect a company from legal risks, and strengthen its financial health and public reputation.

    In the gambling sector, for example, non-compliance has compelled shareholders to demand changes to cultural practices and the reconfiguration of boards. Recently, the Alliance for Gambling Reform voiced its plans to target Nine Entertainment and Seven West Media from within, as shareholders, in an attempt to stop gambling advertisements. Shareholder resolutions were publicly revealed as the activism tactic of choice. Unsurprisingly, there remains a consistent push for corporate behaviour to align with regulatory best practices and investor expectations.

    Environment, social and governance considerations

    Historically dominated by individual investors and smaller single-issue activist groups, shareholder activism in the ESG space is now also characterised by the involvement of large institutional investors, with significant resources to dedicate to activist campaigns. Earlier this year, HESTA voted against the re-election of the Chair of the Santos board on the basis of climate-related factors. The activity of these types of investors is often driven by their own ESG-related targets and other commitments they have made to their investors.

    Beyond climate, we anticipate that future shareholder activism in the ESG space may be driven by nature-related considerations. Allens recently discussed the growing need for boards to exercise due care and diligence in relation to nature-related risks and opportunities following elevated investor scrutiny and agitation in this area. In particular, boards must understand the risks associated with a company’s nature-related dependencies and impacts in order to appropriately consider, manage and/or disclose a company’s nature-related matters to meet shareholder expectations.

    Developing strategies to address ESG interests of shareholders and more broadly adapting to the shift in societal expectations will be paramount. The constant advancement of tools and methodologies used to evaluate ESG successes will further drive shareholder scrutiny. M&A front-runners are progressively turning their attention towards these issues, devising innovative approaches to embed relevant ESG factors into their M&A strategies.2

    Activist tactics

    While activism can take many forms depending on the specific goals of the shareholder involved, there are some common tactics employed in the Australian market. 

    Established tactics

    The more typical activist tactics involve utilising the mechanisms available under the Corporations Act to do one or a combination of calling a meeting, proposing resolutions, distributing materials to shareholders and nominating candidates to the board, each with the purpose of placing a spotlight on an issue or advancing an agenda.

    With a spotlight on the experience of the ASX300 during the 2023-24 financial year:

    • of the 37 remuneration reports voted down by shareholders, around five appear to have been a protest vote due to shareholder concerns beyond remuneration-related issues; and
    • four companies had shareholders approve amendments to their constitution, where those amendments were proposed by shareholders and opposed by the board.

    The window for these types of activist campaigns was in the lead-up to AGM season.

    Historically, activists would generally engage with the company as a first step, before going public with a campaign in the month or two ahead of the relevant AGM, which meant companies had more lead time to prepare.

    However, we are now seeing these campaigns being launched outside that typical AGM window. Activists are also becoming more aggressive and are increasingly willing to take the campaign public without first engaging with the company, which can surprise the company and put them on the back foot.

    Emerging tactics

    The existing toolkit is being supplemented with new tactics that are coming to the fore.

    Harnessing the power of the internet and social media, shareholders are reaping the benefits of activism in a tech-savvy world. Novel online platforms are providing new and unpredictable ways for activists to join forces and launch powerful campaigns. The Alliance for Gambling Reform, mentioned earlier in this article, used online share-trading platform SIX, a trading platform that unites shareholders, to begin its campaign against gambling advertising. Similarly, the widespread reach of social media means that shareholders have more power than ever to captivate the public and influence a market. In a successful campaign against a proposed demerger in 2022, the largest shareholder of an Australian-based energy provider launched a sharp website and employed X (then Twitter) to broadcast a video that appealed to other shareholders. Companies must become comfortable with the reality that one activist could quickly and unexpectedly gain substantial online support.

    Shareholders are also seeking opportunities to obtain a company’s own documents and policies (not all of them public) and hold them to account against a particular activist agenda. This approach has seen shareholders seek preliminary discovery of documents relating to the target company’s internal risk management framework. More recently shareholders have used document inspection powers under the Corporations Act to seek to obtain the target company’s internal documents relating to its climate exposure, as well as human rights issues.

    How to prepare

    Campaigns can be launched without warning and escalate quickly. All companies should take steps to prepare, even if they aren’t anticipating being a target. To be able to be decisive and act swiftly, companies should:

    • actively monitor securities trading and share registers for any early signs of stakes being accumulated;
    • ensure public-facing documents clearly and consistently articulate the company’s strategy;
    • proactively communicate with stakeholders regarding the company’s strategies and values, particularly around points that could be open to challenge, such as operational costs, executive remuneration, ESG related performance and regulatory compliance;
    • consider the breadth of their ESG related public commitments and statements and areas that may be open to scrutiny based on gaps in practice against those commitments or trends in stakeholder activism focus areas;
    • undertake training exercises and work through scenarios with the board and senior leadership to be familiar with how a campaign could play out and potential responses; and
    • have standing appointments for financial, legal and other specialist advisers (such as communications experts) that can be called on quickly if the need arises.

    MIL OSI News –

    September 29, 2024
  • MIL-OSI New Zealand: Government undermines public service with WFH crackdown

    Source: Green Party

    The Green Party says the Government’s retrograde move to tighten up on Work from Home arrangements is the latest in a series of blows to the Public Service.

    “This is shallow soundbite policy and a cheap shot to a public service that is being gutted by the Government,” says the Green Party Spokesperson for the Public Service, Francisco Hernandez.

    “Our public service needs to be supported so it can support our communities. Undermining our public servants at every opportunity will only lead to an erosion of the services we all rely on. 

    “We saw firsthand during the pandemic the benefit of flexible work arrangements and how they can support people to achieve a better work life balance, being beneficial to productivity and morale. 

    “This gimmick Government wants to take us back to the pre-internet days when we lacked the flexibility to adopt working arrangements that work for our workers. This Government quite clearly mistrusts and undervalues the public service. 

    “How can the Government claim this is about improving the performance of the public service when it has repeatedly punched down on our public servants? 

    “It is laughable for the Prime Minister to claim that this will be good for the Wellington CBD when his Government has cut almost 7,000 public service jobs, which has had devastating down-stream effects to the local economy. 

    “If we want to reinvigorate the heart of our cities, we need to support public and active transport, bolster our urban density and stop gutting public services, slashing jobs and cutting incomes.

    “Public servants should have the right to safe, decent and meaningful work that affords them the right balance of working from home and from the office. This should be a discussion between employers and employees, not something that is dictated by Nicola Willis.  

    “The Greens would reform our employment laws for all workers in New Zealand to enable flexible working arrangements, including working from home,” says Francisco Hernandez.

    MIL OSI New Zealand News –

    September 29, 2024
  • MIL-OSI: Ageas announces its new three-year strategic plan: Elevate27

    Source: GlobeNewswire (MIL-OSI)

    Regulated information • Inside information

    Ageas announces its new three-year strategic plan: Elevate27

    Today, Ageas announces its next 3-year strategic plan, Elevate27, for the period 2025-2027. As the name suggests, it is about taking the Group’s strong performance to the next level, building on Ageas’s unique growth profile and strong long-term track record, and the experience it has garnered over the years. A new chapter in Ageas’s journey, Elevate27 is a plan for sustained profitable growth and accelerated progress in key areas of strength, that respond to the needs of the ageing population and SMEs, with the ambition to extend the Group’s leadership in technical insurance and operational excellence while future-proofing distribution capabilities and enriching the customer experience.

      ”As the world continues to change at speed, we will need to stay agile and alert. This is why our focus is on what comes next. That means always asking ourselves – can we do better? Or can we do more? That’s what excites us about Elevate27. It is about further elevating our performance as a Group, building on our strengths, embracing technological advancements where they add value, to deliver on evolving expectations of our stakeholders and on their hopes and dreams for the future. We’ve successfully delivered and outperformed in the past and we’re ready to do so again.”
      Hans De Cuyper, CEO Ageas
    ELEVATE27 COMMITMENTS  
    AS A BUSINESS AND TO INVESTORS. Target by end 2027
    Average earnings per share growth 6% to 8%
    Holding Free Cash Flow EUR 2.2+ billion
    Shareholder Remuneration EUR 1.9+ billion (Progressive Dividend per Share)
    TO CUSTOMERS  
    Delivering the best customer experience Top quartile NPS scores across all our markets
    TO EMPLOYEES  
    Employee NPS Top quartile
    Women in senior and middle management 40%
    TO SOCIETY  
    Products 35+ % of GWP from products that stimulate the transition to a more sustainable and inclusive world.
    ESG Ratings Top quartile with 3 out of 6 rating agencies we actively engage with

    Over the past three years, we have successfully executed our Impact24 growth strategy, delivering on most targets we have set. This was achieved through strong commercial progress and robust operational performance, enabling us to meet our commitments to investors regarding earnings per share and dividend growth, while meeting Net Operating Result guidance. Besides our operational and financial achievements, we are increasingly recognised for our dedication to non-financial goals, as evidenced by improved scores from ESG rating agencies and various recognitions we received such as TOP Employer and the Platinum ECOVADIS label (AG Insurance). We also advanced well on our commitments to customers and employees, as reflected in our high NPS and eNPS scores. As we near the end of our three-year strategic plan, we are confident that we will successfully deliver on Impact24, providing the Group a solid foundation to start Elevate27.

    Elevate27 is built on three strategic drivers: driving profitable growth, leading in technical insurance and operational excellence to sustain and improve margins, and future-proofing distribution and enriching customer experience.

    By focusing on three strategic drivers, we aim to leverage the Group’s strengths to elevate our performance in the coming years. Elevate27 will follow two dynamics: continuing what we already excel at and accelerating our efforts in areas where we see new potential to generate additional value for our stakeholders. Central to this strategy will be our increased emphasis on our People and Tech, Data & AI capabilities at the level of the Group, which will enable us to deliver on our ambitions.

    Our actions are guided and influenced by a commitment to sustainability, long-term thinking, and our partnership DNA.

    Drive profitable growth

    Leveraging our strong presence in Life and Non-Life throughout Europe and Asia, and the successful launch of a fully-fledged Reinsurance arm that provides a solid cash and diversification engine, we will continue to focus on market segments that align with our core competencies, and that open up new opportunities to create and accelerate profitable growth moving forward. We will further accelerate the development of our offering to SMEs, which is already a significant part of our portfolio and where the market is expected in time to outgrow the retail market. We will also accelerate the provision of our solutions for an ageing population, a market opportunity seen in all markets in which Ageas is active, by capitalising on our strong position in the Life market and experience in the over 50 customer segment.

    Lead in technical insurance and operational excellence

    Ageas has a strong track record in terms of technical insurance and operational excellence and wants to grasp the opportunity to maintain and also elevate its leadership in that respect. Taking a lead in these areas, including making use of the new opportunities offered by Technology, Data and AI, ensures attractive margins for the business and intrinsically offers customers an efficient and seamless service.

    To achieve leadership in technical insurance and operational excellence, we will continue to invest in our systems and processes, supporting at the same time our partners in their own digital (transformation) journeys. We want the operational aspect of delivery to be invisible to the customer, the ultimate beneficiary, and to add value to our employees. We want to maintain our financial discipline and strong risk culture, allowing us to sustain and improve our margins. And we want to step up group empowered synergies by leveraging assets and expertise across the entities, demonstrating the power of the Group in this specific area.

    And finally, we have a strong expertise in Data & AI. We want to put these technologies to work for us – adding value but in a disciplined and controlled way, allowing us to better serve our customers, and making insurance more accessible and inclusive.

    Future-proof distribution and enrich customer experience

    In a distribution landscape that is continuously changing, we remain committed to working through all distribution channels that allow us to best reach our customers and gain access to new types of customers.

    By leveraging on our strong partnership model and new possibilities offered by AI, we want to develop innovative propositions and services for customers by combining the data insights and expertise of Ageas and our partners. With full confidence in our traditional distribution partners – Banks, Agents and Brokers – we will pay special attention to jointly enhancing our digital capabilities. At the same time, and in the context of continued diversification, we will further accelerate our engagement with digital B2B2C sales platforms.

    In Impact24 we have successfully implemented solutions designed to provide the best experience for customers focusing on CX Culture, Customer Journey Management and Tech & Data, giving the Group the capabilities to develop a leading on- and offline customer experience, while promoting greater efficiency. This will continue to be our primary focus. We aim to advance even further by reinventing the way we interact with customers across different channels and platforms by innovating our client-interaction model, prioritising self-service solutions and automated customer assistance, and investing in hyper-personalised services.

    Leveraging on two critical assets to deliver on our plan: ‘People’ and ‘Tech, Data & AI’

    Through Elevate27 we will reconfirm the commitment we made to our people to deliver a Great place to Grow, both today and for future, and we will take optimal advantage of the opportunities offered by Tech, Data & AI to meet our ambitions. We have put in place high-quality data management and established a pipeline of over 300 AI initiatives group-wide that under Elevate27 will be fully deployed.

    The rapid evolutions in these areas require us to act fast as a Group to maintain a leading position. By harnessing the collective strength of the Group, we can offer our entities and partnerships access to essential resources and skills, generate economies of scale, increase our speed-to-market and adopt the most effective approaches and methodologies, that benefit all.

    As a prerequisite to delivering on the drivers of Elevate27, we will continue to invest in our technological capabilities, such as ensuring our IT architecture is open and composable to easily integrate with partners and increase our speed to market. Furthermore, we will accelerate the adoption of new Data and (Gen)AI solutions where they add value, as their integration in areas such as Pricing, Underwriting and Product Development, Claims Processes, Fraud Management & Customer Journeys will become even more prominent moving forward.

    Sustainability and Long-term thinking as guiding principles

    As a true supporter of the lives of all our stakeholders, our dedication to sustainability and adopting a long-term perspective will continue to underpin our actions. Leveraging 200 years of solid business experience along with recent successes and learnings from Impact24, we will further strengthen our group-wide efforts in sustainability and long-term thinking.

    A targeted performance

    As a true stakeholder driven company, we hold ourselves accountable for delivering on our promises by 2027. This translates to setting clear financial and non-financial targets that allow us to measure our progress over time.

    For investors and our business in general, we have set out a range of targets that demonstrate the strength of our balance sheet, our financial performance, and our ability to drive profitable growth and attractive returns, providing confidence in the sustainability of our investment case in the long term. Our commitment to create value is reflected in 3 financial targets:

    • Average earnings per share growth: 6% to 8%
    • Holding Free Cash Flow: EUR 2.2+ billion
    • Shareholder Remuneration: EUR 1.9+ billion (Progressive Dividend per Share)

    For customers, we aim to be recognised for excellence at every interaction. To underscore our commitment to delivering the best customer experience, we will strive to reach top quartile NPS scores across all our markets.

    For our partners, we want to be the partner of choice both for our traditional partners and new types of partnerships and will closely monitor and actively address partnership feedback at local level.

    For our employees we want to be recognised as a Great place to Grow. This commitment is demonstrated through two specific targets:

    • Employee NPS: top quartile
    • 40% women in senior and middle management

    For society we continue to place sustainability at the heart of our business, influencing decisions about products, investments, and emissions, with external acknowledgment of our ESG initiatives.

    • Products: 35+ % of GWP from products that stimulate the transition to a more sustainable and inclusive world.
    • ESG ratings: top quartile with 3 out of 6 rating agencies we actively engage with.

    INVESTOR DAY WEBCAST

    23 September 2024 – 17:00 CET (16:00 UK Time)
    Audio webcast via https://ageaspresents.com/aid2024/live

    Attachment

    • Pdf version of the press release

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Tryg A/S – Q3 2024 pre-silent newsletter

    Source: GlobeNewswire (MIL-OSI)

    Tryg will host pre-close analysts calls and meetings during the week that starts on September 23 ahead of the Q3 2024 results to be published on October 11. Tryg has decided to publish a quarterly newsletter, ahead of the pre-silent period, to remind capital markets participants about the most important items impacting the company’s financial performance. The newsletter is also in alignment with recent ESMA (European Securities and Markets Authority) guidance on the topic.

    • Tryg derives approximately 20% of the revenue from Norway and 30% from Sweden, the average expected NOK/DKK exchange rate is in Q3 2024 around 64.1 (Q3 2023 64.77) while the average expected SEK/DKK exchange rate is around 65.2 (Q3 2023 63.42). The level of the exchange rates is relevant when translating local revenues in Danish kroner, Tryg’s reporting currency.
    • Q3 is the summer/autumn quarter where some 20% of the annual weather claims are expected. As a reminder Tryg expects DKK 800m of annual normalized weather claims split (percentages wise) by quarter as 40%-10%-20%-30%. The definition of weather claims includes “storms and cloudbursts” but it also reflects the seasonality of claims where winter is the most important driver.
    • Large claims are guided also at DKK 800m per annum but without any seasonality, it should therefore be assumed an amount of DKK 200m per quarter.
    • At times information regarding large weather events or large claims may be available in local press, mass media or industry associations websites.
    • Tryg runs a stable business therefore recent trends of underlying performance ought to be taken as a good guidance for short term trends at least, the group underlying claims ratio was 67.5% in Q3 2023
    • The free portfolio of approximately DKK 17bn is the most volatile part of Tryg’s investment result, the return to date (in percentage) of the free portfolio is observable on a daily basis tryg.com. Tryg has disclosed a recurrent component of DKK 90m, related to interest income on premiums provisions, as part of the match portfolio (DKK 44bn of Scandinavian covered bonds) quarterly return. Other financial income and expenses (booked against the investment result) are guided at a normalized quarterly level around DKK -90m as previously written in quarterly reports.
    • Other income and costs in the profit and loss are expected to be on a normalized basis between DKK -350m and DKK -370m primarily driven by intangibles amortization from the Alka and RSA Scandinavia acquisitions.
    • Tryg pays a flat quarterly dividend, the company paid 1.95 per share in Q1 and Q2 in 2024. The solvency ratio movements are primarily driven by operating earnings (earnings adjusted for intangibles amortization) and dividend payment impacting the Own Funds while the SCR (solvency capital requirement) does not move significantly between quarters assuming an unchanged business and investments profile.
    • Following the Q2 2024 results in July no other announcement has been published while investors meetings in Copenhagen, New York, Zurich & London have been or will be attended during the summer quarter.
    • A transcript of the Q2 2024 earnings call from July 11 is available on Tryg.com.
    • Tryg will publish its Q3 results on October 11 at around 7:30 CET and will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen and CTO Mikael Karsten will present the results in brief, followed by a Q&A session. The conference call will be held in English.

    Tryg will publish the Group’s Q3 results for 2024 on 11 October 2024 at around 7:30 CET.

    Conference call

    Tryg will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen, CTO Mikael Kärrsten and SVP Gianandrea Roberti will present the results in brief, followed by a Q&A session.

    The conference call will be held in English.

    Date 11 October 2024
    Time 10:00 CET
     

    Dial-in numbers

    Pin code

    +45 (DK) 78 76 84 90

    +44 (UK) 203 769 6819

    +1 (US) 646 787 0157

    560768

    You can sign up for an e-mail reminder on tryg.com. The conference call will also be broadcasted on this site. An on-demand version will be available shortly after the conference call has ended.

    All Q3 material can be downloaded on tryg.com shortly after the time of release.

    Contact information:

    Attachment

    • Q3 2024 pre silent newsletter

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Bitget and Foresight Ventures Invest $30 Million in TON Blockchain to Accelerate Growing Telegram-based Projects

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 23, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, and Foresight Ventures, a leading Web3 investment firm, have announced a strategic investment of $30 million into TON (The Open Network) Blockchain. This investment will be allocated through the acquisition of TON tokens and aims to accelerate further the adoption of Tap-to-Earn, GameFi, and new emerging trends within the TON ecosystem.

    The TON-based projects present a strong use case for mass adoption through the Telegram ecosystem, which has seen substantial growth in recent years as it expands its offerings for Web3 startups. According to a recent TON report from Bitget Research, TON Blockchain, which benefits from Telegram’s 950 million users, has rapidly become one of 2024’s fastest-growing blockchains. It has experienced over tenfold growth in on-chain transactions, ecosystem TVL, and DEX trading volume, with viral dApps like Catizen, DOGS, and Tomarket amassing millions of users.

    The commitment to TON Blockchain comes at a time when Bitget has witnessed remarkable growth in its user base. By focusing on ecosystem development and expanding its services, Bitget has grown its global user count to 45 million in Q3 2024, almost doubling in the past 12 months. This surge is partly attributed to the increasing demand for innovative projects, particularly those driven by platforms like TON.

    In 2024, Bitget Wallet contributed to the TON ecosystem with TONNECT 2024, a major online event aimed at accelerating the growth of emerging dApps in the TON ecosystem. Thanks to TON’s growing user interest in Bitget’s decentralized wallet, Bitget Wallet continuously topped the charts amongst all apps in Nigeria taking over world-famous apps such as TikTok and WhatsApp on Apple’s App Store.

    “As Bitget continues to BUIDL around The Open Network, our investment in the TON ecosystem provides a solid foundation for driving initiatives that align with our vision. By integrating our expertise in crypto infrastructure with TON’s decentralized architecture, we are well-positioned to strengthen the development of innovative products and solutions. Together, we are bringing the crypto industry closer to mass adoption than ever before.” commented Gracy Chen, CEO at Bitget.

    “The surge of the TON ecosystem represents the biggest growth opportunity in the cryptocurrency market this year, and in the next 3 to 5 years. Over the past six months, TON’s TVL has increased 18-fold, reaching $350 million.” Forest Bai, Co-Founder and CEO of Foresight Ventures, stated: “The ecosystem currently boasts over 1,000 dApps, with many applications having millions of users. We hope to continue supporting developers within the TON ecosystem by providing investment, incubation, and marketing support.”

    With the $30 million investment, Bitget and Foresight Ventures will engage more deeply in the future development plans of TON Blockchain, supporting the emergence and go-to-market of more blockbuster dApps on TON.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    About Foresight Ventures
    Foresight Ventures is the first and only crypto VC bridging East and West. With a research-driven approach and offices in the US and Singapore, we are a powerhouse in crypto investment and incubation. Our premier media network includes The Block, Foresight News, BlockTempo, and Coinness. We aggressively invest in the most daring innovations and are dedicated to partnering with visionary projects and top teams to help them succeed, reshaping the future of digital finance and beyond.

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d47bf052-c6ad-4223-b4cf-bf2554a6fafc

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Virtune AB (Publ) announces its expansion into the Netherlands through the listing of Virtune Staked Solana ETP on Euronext Amsterdam

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, 23rd of September 2024 — Virtune, a Swedish regulated digital asset manager and issuer of crypto Exchange Traded Products (ETPs) based in Stockholm, Sweden, announces its expansion into the Netherlands through the listing of its Virtune Staked Solana ETP on Euronext Amsterdam.

    With strong traction and consistent inflows in the Nordic regions driven by increasing interest and crypto adoption, expanding into the Netherlands is a strategic milestone for Virtune. Virtune has since its inception in May 2023 been growing rapidly in the Nordics where it has listed a total of 12 products and reached more than 31 000 investors in its products in just about one year.

    The key success factors have been an educational focus, a transparent market approach and through its regulated status. This move not only addresses growing investor enthusiasm but also enhances our market presence across Europe.

    Christopher Kock, CEO of Virtune, stated:

    “We are thrilled to expand into the Netherlands with the introduction of our Staked Solana ETP to the Dutch investor community after its successful launch in the Nordic markets. Since our inception in May 2023, we have worked tirelessly to drive crypto adoption through educational efforts in the Nordics and we are excited to extend these efforts to the Dutch financial market. This ETP provides investors with enhanced exposure to Solana, one of the leading and most influential blockchains globally, while also offering additional returns through included staking.”

    About Virtune Staked Solana ETP
    Virtune Staked Solana ETP provides exposure to Solana combined with the benefits of staking. With staking incorporated, the ETP offers an additional annual return of approximately 3% on the investment made in the ETP, while at the same time offering an attractive annual fee of 0.95%.

    Like all of Virtune’s ETPs, Virtune Staked Solana ETP is 100% physically backed and fully collateralized, is denominated in EUR for the Dutch audience and is available on brokerage platforms like Degiro. Virtune uses Coinbase as the crypto custodian where the underlying SOL tokens are being stored with highest institutional grade security in cold-storage. The underlying SOL tokens are being staked directly from cold-storage and the staking rewards are being reflected in the daily price of the ETP.

    Key Product Information:

    Exposure to Solana with approximately 3% annual return through staking
    100% physically backed by SOL
    0.95% annual management fee
    Non-custodial staking

    Virtune Staked Solana ETP:

    Trading Currency: EUR
    First Day of Trading: Tuesday, 17th of September 2024
    Euronext Exchange Ticker: VRTS
    Bloomberg Ticker: VIRSOL
    ISIN: SE0021309754
    Exchanges: Euronext Amsterdam, Euronext Paris, Nasdaq Stockholm

    About Virtune AB (Publ)
    Virtune is a registered financial institution with the Swedish Financial Supervisory Authority (FSA) for trading and managing digital assets and has an approved EU Base Prospectus, renewed with the Swedish FSA on April 5, 2024 which has enabled Virtune’s strategy of listing ETPs on regulated European exchanges. Virtune’s mission is to provide seamless access to crypto assets for both institutional and retail investors through innovative ETPs, transparency, and education.

    Virtune has a wide offering of crypto ETPs that includes Virtune Bitcoin ETP, Virtune Staked Ethereum ETP, Virtune Staked Solana ETP, Virtune Crypto Top 10 Index ETP, Virtune XRP ETP, Virtune Chainlink ETP, Virtune Avalanche ETP, Virtune Staked Polkadot ETP, Virtune Staked Polygon ETP, Virtune Arbitrum ETP and Virtune Staked Cardano ETP.

    About Solana
    Solana is a high-performance blockchain platform designed to offer fast and scalable decentralized application operations and cryptocurrency transactions. By using a unique consensus mechanism known as Proof of History (PoH) along with Proof of Stake (PoS), Solana can handle thousands of transactions per second with low transaction costs, which is a significant improvement over older blockchains like Bitcoin and Ethereum. This combination of technologies not only allows for instant transaction verification but also a significant increase in network throughput without compromising security or decentralization.

    About staking
    Staking enables crypto asset owners to earn passive income by participating in the validation and confirmation of transactions on a blockchain through a process known as Proof of Stake. This mechanism is a fundamental component of Proof of Stake blockchains, like Ethereum and Solana, and plays a vital role in ensuring the security and authenticity of blockchain transactions. To facilitate a transaction on the blockchain securely and accurately, a validator must stake a certain amount of crypto asset as a guarantee of the transaction’s legitimacy.

    The validator aims to stake as much crypto assets as possible to increase the likelihood of receiving rewards, which are paid out in the same type of crypto asset that was staked. For instance, if you stake Solana, you receive additional SOL tokens as a reward. The annual reward percentage for staking can vary and may range from 0-14% or higher for some blockchains. Most crypto asset holders cannot act as validators themselves, as it requires significant amounts of crypto assets. Therefore, many choose to stake their assets through an established and trusted validator. Virtune includes staking rewards in its products that have ‘staked’ included in their names.

    Flow Traders will act as the market maker for the ETP, ensuring that Dutch investors can access the product easily and efficiently during Euronext market hours.

    Stockholm, 23rd of September 2024

    For further inquiries, please contact:
    Christopher Kock, CEO & Member of the Board of Directors
    Email: hello@virtune.com

    About Virtune AB (Publ)
    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges.

    With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Organizations are ramping up efforts to meet sustainability targets, despite geopolitical challenges

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Victoire Grux 
    Tel.: +33 6 04 52 16 55 
    Email: victoire.grux@capgemini.com 

    Organizations are ramping up efforts to meet sustainability targets, despite geopolitical challenges

    • 69% of executives say that anticipating stricter future regulations is a key driver of sustainability initiatives, up from 57% last year
    • Nearly two thirds say geopolitics is driving a slowdown in their sustainability investments
    • Six out of ten are concerned that their organization’s sustainability efforts might appear insincere to the public, up from only 11% in 2023.

    Paris, September 23, 2024 – Organizations continue to make progress in their sustainability initiatives, despite facing geopolitical challenges. Regulation and technology are proving to be a vital part of this progress, with two thirds of executives agreeing that their organization will never be able to achieve its sustainability goals without climate tech. This is according to the Capgemini Research Institute’s latest report, ‘A world in balance 2024: Accelerating sustainability amidst geopolitical challenges’, which tracks advancements in organizations’ environmental and social sustainability over the last three years. The third edition of the report highlights marked improvements in circularity, sustainable design, measurement, water stewardship, biodiversity, and sustainability skilling, despite shortfalls in tackling Scope 3 emissions and consumer skepticism.

    Collectively, organizations are ramping up their efforts to meet their sustainability targets, and their maturity in adopting sustainable practices has increased steadily since 2022. 84% of executives this year say their organization is on target to meet its carbon emissions goals; less than a tenth say they are behind. As organizations look to minimize their impact on the environment, progress is particularly visible in terms of circularity, sustainable product design, measurement, and water management. For instance, nearly three quarters of executives say that recycling products is a core aspect of their manufacturing strategy, up from 53% in 2022, while over two thirds said they were redesigning products to remove fossil fuel feedstock sources, up from less than half in 2022. In addition, three-quarters of executives have implemented a water-stewardship program, up from 55% in 2022.

    In late 2023, executives were planning to increase investments in sustainability this year. However, companies have not followed through: average annual investment in sustainability initiatives and practices now stands at 0.82% of total revenue, down from 0.92% in 2023.

    “This year’s report shows sustainability projects continuing to build momentum in 2024 despite current headwinds,” said Cyril Garcia, Capgemini’s Head of Global Sustainability Services and Corporate Responsibility and Group Executive Board Member. “Business leaders have the power and the responsibility to steer us towards a more sustainable economy. Water stewardship, biodiversity preservation, and circular practices are now established as key business imperatives. Executives are being very pragmatic, and CO2reduction must now be translated into cost savings. We continue to see sustainability efforts bolstered by new climate tech innovations and regulations. The best way to build trust and credibility with consumers is by demonstrating tangible outcomes and planning for a future with sustainability at its heart.”

    Consumers unconvinced about progress
    Consumers want to see corporations going even further and demand transparency. The report finds three-quarters of consumers expecting corporations to play a larger role in reducing GHG emissions in 2024. Furthermore, even as organizations ramp up sustainability initiatives, consumers are more skeptical than ever about corporate sustainability, as more than half believe that organizations are greenwashing their sustainability initiatives, up from 33% in 2023.

    Geopolitics and regulations impacting corporate sustainability initiatives
    Executives pointed to climate-related regulations as a key driver of sustainability projects. A full three-quarters of executives believe that sustainability regulation is necessary to achieve global climate goals, and nearly two thirds even agree that without regulation, their organization would not have launched many environmental sustainability initiatives.

    Globally, 73% of executives agree that the EU’s Corporate Sustainability Reporting Directive (CSRD) is honing sustainability measurement and tracking capabilities. However, organizations continue to fall short in terms of reporting on sustainability initiatives, especially on Scope 3 emissions. Among organizations required to report for CSRD in 2025, just over a third say that they are prepared to report Scope 3 downstream emissions next year, while 86% are prepared for Scope 1.

    Meanwhile, tensions such as US-China relations, the wars in Ukraine and the Middle East, and the European energy crisis, are leading to disruption to supply chains and business operations, and uncertainty around government funding. This year, nearly two thirds of executives pointed to geopolitics as an increasing consideration in sustainability investments, and 69% are concerned about the impact of the uncertain US political scene. This is felt across countries, but Swedish executives are most concerned (75%), compared with 71% of US executives and 59% of executives in India.

    To access the full report: https://www.capgemini.com/insights/research-library/sustainability-trends-2024

    Methodology
    The Capgemini Research Institute surveyed 2,152 executives employed at 727 organizations, each with more than $1 billion in annual revenue, across 13 countries in North America, Europe, and Asia-Pacific and in 12 industries and sectors, in June and July 2024. Executives surveyed were director level and above and 50% were from corporate functions, such as strategy, sustainability, sales, and marketing; 50% were from value chain functions, such as product design, R&D, procurement, and logistics. The Institute also surveyed 6,500 consumers over the age of 18 across the 13 countries and conducted interviews with 12 senior sustainability executives at leading organizations globally.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fuelled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.

    Get the Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was recently ranked #1 in the world for the quality of its research by independent analysts. 

    Visit us at https://www.capgemini.com/researchinstitute/ 

    Attachment

    • 09_23 Capgemini Sustainability business trends CRI report

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Nokia wins 5G deal with Viettel Group in Vietnam

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia wins 5G deal with Viettel Group in Vietnam

    • Nokia to introduce 5G network to Vietnam for first time; including modernizing 4G infrastructure.
    • Nokia to deploy first Vietnamese-made 5G solutions in country.
    • Supports Viettel Group strategy of advancing 5G infrastructure and digital transformation in Vietnam.

    23 September 2024
    Espoo, Finland – Nokia today announced that it has signed a major new deal with Viettel Group (Viettel) to deploy 5G equipment for the first time nationwide in Vietnam. The ambitious project will cover 22 provinces across the country and support Viettel’s strategy of advancing 5G infrastructure and digital transformation. The project will also see Nokia modernize Viettel’s 4G infrastructure. Deployment will begin this year.

    Under the deal, Nokia will supply equipment from its industry-leading 5G AirScale portfolio for the first time in Vietnam covering 2,500 sites. This includes Nokia’s next-generation AirScale baseband solutions, Massive MIMO radios, and Remote Radio Head products. These are all powered by its energy-efficient ReefShark System-on-Chip technology and combine to provide superior coverage and capacity. It marks the first 5G network in Vietnam where the deployed products have also been locally manufactured, highlighting Nokia’s commitment to the region.

    Vietnam’s Ministry of Information and Communications has placed great importance on 5G as a critical national infrastructure that will enable sustained socioeconomic development through science, technology, and innovation. Vietnam’s digital economy is expected to contribute between 20% and 30% of GDP by 2030.

    Mr. Tao Duc Thang, President & CEO at Viettel Group, said: “This important project with our long-term partner Nokia, will play a critical role in advancing Viettel Group’s strategy of deploying 5G infrastructure and driving digital transformation in Vietnam. 5G technology supports the development of national digital infrastructure and a digital service ecosystem, creating opportunities for economic growth and increased productivity.”

    Tommi Uitto, President of Mobile Networks at Nokia, said: “Nokia is proud to be Viettel Group’s principal partner in this critical digital transformation project that will lay the foundations for Vietnam’s future competitiveness. Nokia has been a part of Vietnam’s growth over the past three decades, and this initiative of enhancing local technology production continues to strengthen our bond with the country. Our AirScale portfolio offers premium connectivity, low latency, and reduced power consumption supporting Vietnam’s digital future.”

    Resources and additional information:
    Webpage: Nokia 5G
    Webpage: AirScale Radio Access
    Webpage: MantaRay Network Management

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable, and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Nasdaq Expands Digital Bank FinTech Presence in Latin America

    Source: GlobeNewswire (MIL-OSI)

    Expanded partnership with Nubank reflects rapid growth of banking and payment services in Latin America

    Over half of Nasdaq’s Latin American banking clients have expanded their technology partnership in the last 12 months

    Nasdaq’s financial technology solutions simplify regulatory compliance and reduce time to market across multiple jurisdictions

    NEW YORK and SAO PAULO, Sept. 23, 2024 (GLOBE NEWSWIRE) — Nasdaq today announced it has expanded its digital bank financial technology presence in Latin America, having agreed to provide its AxiomSL regulatory reporting solution to Nubank, a leading digital bank with over 100 million customers across Brazil, Mexico, and Colombia.

    The agreement extends Nasdaq’s existing partnership with Nubank which includes providing the technology that underpins the bank’s treasury function – managing its fixed income and money market operations – and now the bank’s regulatory reporting obligations in Colombia. It also reflects the accelerating demand for third-party financial technology solutions in Latin America, driven by the rapid growth and development of digital banking in the region and the competitive need for technology that can support a short time to market for new products and services.

    Nasdaq has over 50 banking and payment services clients in Latin America, comprising a broad range of digital and traditional banks, local and regional players as well as tier one global banks. The technology provided includes Nasdaq AxiomSL, which supports financial and regulatory reporting requirements across 55 countries and 110 regulators, and Nasdaq Calypso, which provides the SaaS technology platform that underpins banks’ treasury, risk, and collateral management workflows.

    The comprehensive range of Nasdaq’s mission critical technology across the fabric of the Latin American financial system, alongside extensive partnerships with the region’s market infrastructure operators, helps foster deep customer relationships and insight into their most complex operational challenges. In the last 12 months, over half of Latin American clients adopting Nasdaq’s AxiomSL and Calypso technology have sought to expand their partnership, alongside strong growth in new customer numbers.

    Ed Probst, Senior Vice President, Regulatory Technology at Nasdaq said: “Digital banking services in Latin America are experiencing a period of extraordinary development, with online marketplaces, open banking and innovative technology combining to empower a new generation of consumers. Nasdaq’s technology is helping to underpin the maturation of the industry, with proven regulatory solutions substantially reducing time to market and providing a competitive advantage in such a fast-paced industry. We welcome the opportunity to expand our partnership with Nubank, alongside many other clients in the region, to support their ambitious growth trajectory.”

    Navigating regulatory complexity across Latin American banking services

    The Latin American financial system is undergoing a radical transformation with the number of fintech startups established over the last six years having grown more than 340%, according to a recent report by the Inter-American Development Bank (IDB) and Finnovista1. This trend is also reflected in a study published by McKinsey & Company which highlights the soaring popularity of noncash payments, with cash no longer representing the preferred payment method2. Latin America’s relatively young demographic is proving a catalyst for innovation and digital adoption.

    Alongside this shift, the region’s regulatory frameworks are undergoing a period of continued enhancement, which is helping to bolster the integrity of the system and unlock new areas of open finance and digital banking. Collectively these drivers are helping to unlock significant growth opportunities for financial services providers, including amongst previously unbanked people and companies.

    Nevertheless, the regulatory environment remains deeply complex for companies seeking to access multiple jurisdictions and regulatory regimes. For example, Brazilian requirements typically focus on the types of products and services offered while Mexico has a specific license for “fintechs”. In Colombia, several small and digital banks operate as a “Financing Company”, which carry different requirements to “Banks and Financial Corporations”. This pattern is replicated across Latin America where the confluence of innovation, rapid growth, and regulatory complexity is driving traditional and digital banks to seek third party technology providers to meet their regulatory needs. Nasdaq’s advanced technology allows these banks to keep pace with inherent regulatory risks as they look to scale responsibly.

    In addition to Nubank, other digital bank and payment companies Nasdaq has expanded its services with include Mercado Libre, Latin America’s leading e-commerce and digital payments company, C6 Bank, a full-service digital bank in Brazil, and Bankaool, the first bank to receive a license from the Mexican government to provide digital-only services.

    As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help 3,500+ banks, brokers, regulators, financial infrastructure operators, and buy-side firms solve their toughest operational challenges while advancing industrywide modernization.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Contact:

    Andrew Hughes
    +44 (0)7443 100896
    Andrew.Hughes@nasdaq.com

    +++

    Camille Stafford
    +1 (234) 934 9513
    Camille.Stafford@nasdaq.com

    Disclaimers 

    ©2024 Nasdaq, Inc. The Nasdaq logo and the Nasdaq ‘ribbon’ logo are the registered and unregistered trademarks, or service marks, of Nasdaq, Inc. in the U.S. and other countries. All rights reserved. This communication and the content found by following any link herein are being provided to you by Nasdaq, Inc. and/or certain of its subsidiaries (collectively, “Nasdaq”), for informational purposes only. Nasdaq makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. At the time of publication, the information herein was believed to be accurate, however, such information is subject to change without notice. Nothing herein shall constitute a recommendation, solicitation, invitation, inducement, promotion, or offer for the purchase or sale of any investment product, nor shall this material be construed in any way as investment, legal, or tax advice, or as a recommendation, reference, or endorsement by Nasdaq. 

    Cautionary Note Regarding Forward-Looking Statements: 

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s AxiomSL and Calypso technology solutions. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. 

    1 https://www.iadb.org/en/news/study-fintech-ecosystem-latin-america-and-caribbean-exceeds-3000-startups
    2 https://www.mckinsey.com/industries/financial-services/our-insights/the-rapid-evolution-of-payments-in-latin-america

    NDAQG

    The MIL Network –

    September 29, 2024
  • MIL-OSI Video: WTO-ITC: Presentation of WEIDE Fund

    Source: World Trade Organization – WTO (video statements)

    The WTO and the International Trade Centre (ITC) on 11 September kickstarted at the WTO Public Forum the implementation of the Women Exporters in the Digital Economy (WEIDE) Fund, a global fund to help women tap into opportunities in international trade and the digital economy.

    Business organizations are now invited to apply:
    https://www.wto.org/english/tratop_e/womenandtrade_e/weide_e.htm

    Video produced by the ITC.

    https://www.youtube.com/watch?v=ztmykf24YKM

    MIL OSI Video –

    September 29, 2024
  • MIL-OSI China: Governor Pan Gongsheng Addresses the 2nd Conference of China and Portuguese-Speaking Countries Central Bankers and Financiers

    Source: Peoples Bank of China

    The 2nd Conference of China and Portuguese-Speaking Countries Central Bankers and Financiers was held in the Macao Special Administrative Region (SAR) on September 23, 2024. Pan Gongsheng, Governor of the People’s Bank of China (PBOC), addressed the meeting. Governor Pan said that the Chinese economy is growing steadily. The PBOC will continue with the accommodative monetary policy stance, intensify and make monetary policy adjustments more targeted, and create a favorable monetary and financial environment for China’s stable economic growth and high-quality development. He noted that Macao has close connection with Portuguese-speaking countries. The PBOC will continue to support Macao in better leveraging its unique advantages and its role as a bridge, and support Macao’s endeavor to build a financial cooperation platform between China and Portuguese-speaking countries, and deepen mutually beneficial  cooperation on various fronts. Central bankers from different Portuguese-speaking countries exchanged their views on the financial cooperation between China and Portuguese-speaking countries, central bank’s role in economic development and financial stability, fintech, as well as other issues.

    Date of last update Nov. 29 2018

    2024年09月23日

    MIL OSI China News –

    September 29, 2024
  • MIL-OSI China: Governor Pan Gongsheng Meets with Ho Iat Seng, Chief Executive of Macao SAR

    Source: Peoples Bank of China

    On September 23, 2024, Pan Gongsheng, Governor of the People’s Bank of China (PBOC), met with Ho Iat Seng, Chief Executive of the Macao Special Administrative Region (SAR). They exchanged views on the financial cooperation between the Chinese mainland and the Macao SAR as well as other issues of mutual interest. Governor Pan noted that, Macao has successfully practiced the policy of “one country, two systems” and made remarkable achievements since its return to the motherland 25 years ago. The PBOC will continue to strengthen its financial cooperation with Macao, and support Macao’s endeavor to pursue a moderately diversified economy, promote modern financial services industry, and better integrate into China’s overall development.

    Date of last update Nov. 29 2018

    2024年09月23日

    MIL OSI China News –

    September 29, 2024
  • MIL-OSI China: Announcement on Central Bank Bill Issuance No.6 [2024]

    Source: Peoples Bank of China

    Announcement on Central Bank Bill Issuance No.6 [2024]

    (Open Market Operations Office, September 19, 2024)

    In order to enrich the spectrum of RMB-denominated financial products with high credit ratings and improve the yield curve of RMB bonds in Hong Kong, the People’s Bank of China (PBOC) is scheduled to issue the ninth batch of central bank bills in 2024 through the Central Moneymarkets Unit (CMU) bond tendering platform of the Hong Kong Monetary Authority (HKMA) on September 25, 2024 (Wednesday), in accordance with the Memorandum of Cooperation on Using CMU for Issuance of PBOC Bills, jointly signed by the PBOC and the HKMA.

    The ninth batch of bills are 6-month (182-day) fixed-rate coupon bonds with a total issuance of RMB25 billion. The principal and interest will be paid at maturity. The bills will begin to accrue interest on September 27, 2024 and will mature on March 28, 2025, unless postponed in the event of public holidays.

    The face value of each bill is RMB100. The issue will be placed by invitation for interest rate-bidding through Dutch auction.

    Date of last update Nov. 29 2018

    2024年09月19日

    MIL OSI China News –

    September 29, 2024
  • MIL-Evening Report: More Australians are using their superannuation for medical procedures. But that might put their financial health at risk

    Source: The Conversation (Au and NZ) – By Neera Bhatia, Associate Professor in Law, Deakin University

    fizkes/Shutterstock

    A record number of Australians are accessing their superannuation early on compassionate grounds, mainly to fund their own medical procedures – or those of a family member.

    Some 150,000 Australians have used the scheme in the last five years. Nearly 40,000 people had applications approved in 2022-23, compared to just under 30,000 in 2018-19 – an increase of 47%.

    Some people think this flexible use of funds is a good way to ensure people can fund their own medical needs. But more transparency and better oversight is needed.

    What are compassionate grounds?

    Since July 2018, the Australian Tax Office has administered the early release of superannuation – meaning before retirement – under certain circumstances, including compassionate grounds.

    Compassionate grounds for you or your dependant (such as child or spouse) are:

    • medical treatment or transport
    • modifying your home or vehicle to accommodate special needs for a severe disability
    • palliative care for a terminal illness
    • death, funeral or burial expenses
    • preventing foreclosure or forced sale of your home.

    The medical treatment must be for a life-threatening illness or injury, or to alleviate acute or chronic pain, or acute or chronic mental illness.

    The treatment cannot be “readily available” through the public system. Cosmetic procedures are excluded.

    You also have to prove you cannot afford to pay part or all of the expenses without accessing your super, for example, by spending your savings, selling assets or getting a loan.

    People who can access other funding for the expense, such as via the National Disability Insurance Scheme, are ineligible.

    Why are people using this scheme more?

    The ATO has not explained what is driving the surge. General cost-of-living pressures may play a role. People may have fewer savings to draw on for medical procedures.

    But the treatments most commonly being accessed using superannuation – fertility treatments, weight loss surgeries and dental care – point to other systemic issues.

    There have long been issues with IVF and dental care not being readily available or funded in the public health system.

    Weight loss surgeries (including bariatric surgery) can help combat potentially life-threatening conditions such as heart disease. Recent research suggests there has been an overall drop in the number of Australians having bariatric surgeries since 2016. But of those, 95% are performed through the private system.

    Australians are increasingly turning to their super to fund dental care, which is not covered by Medicare.
    Pixabay/Pexels

    While early access to super can provide individuals access to critical treatment, there are issues with how compassionate grounds are defined and regulated.

    Lack of clarity

    As my co-author and I have shown, the vague wording of the Superannuation Industry regulations leaves them worryingly open to interpretation.

    For example, the meaning of “mental disturbance” is not defined.

    You may not meet the criteria of having an acute or life-threatening illness, or acute or chronic pain. But if you can show a certain condition causes you acute mental disturbance, you may qualify to release your superannuation early.

    People accessing their superannuation for IVF use this criterion, for example, by arguing they need to access funds to continue treatment and alleviate the acute mental distress caused by ongoing infertility issues.

    Two registered medical practitioners are each required to submit a report demonstrating the treatment is needed, and one must be a specialist in the field in which the treatment is required. However, the regulations do not specify clearly that the specialist should have relevant qualifications.

    In the IVF example, this means the specialist opinion can be provided by a fertility doctor rather than a mental health expert – and that person may stand to profit if they later also provide treatment.

    A closed-loop system

    Conflict of interest is another major issue.

    There is nothing in the regulations to stop a medical practitioner – such as a dentist – being involved in all steps and then financially benefiting. They could encourage a patient to access superannuation for a treatment, write the specialist report and then also receive payment for the treatment.

    Some clinics promote accessing superannuation as an option to pay for expensive treatments.

    This raises important questions about the independence of the process, as well as professional ethics.

    Medical practitioners making recommendations for early release of superannuation should be doing so on genuinely compassionate grounds. But the potential for exploitation remains an ethical concern, when a practitioner can financially benefit from recommending early access to nest egg funds.

    Transparency around potential conflicts of interest are impossible to ensure without proper oversight.

    What is needed?

    1. Mandatory financial counselling

    The ATO has warned accessing super early is not “free money”, with a spokesperson urging people to get financial advice. But the law should go a step further and make this compulsory. That way people making decisions during an emotionally charged moment can understand any future implications.

    2. Tightening of the criteria

    Greater clarity in the legislation – such as defining “mental disturbance” – would help prevent loopholes being exploited.

    3. Better oversight

    Less health-care industry involvement would promote greater transparency and independence. An independent body of medical practitioners could assess applications rather than practitioners who could financially benefit if applications are approved. This would help alleviate perceived and actual conflicts of interest.

    Accessing superannuation early may be the only option for some people to start a family or access other life-changing medical care. But they should be able to make this decision in a fully informed way, safeguarded from exploitation and aware of the implications for their future.

    Neera Bhatia receives funding from The UK Arts and Humanities Research Council for an unrelated project.

    – ref. More Australians are using their superannuation for medical procedures. But that might put their financial health at risk – https://theconversation.com/more-australians-are-using-their-superannuation-for-medical-procedures-but-that-might-put-their-financial-health-at-risk-239588

    MIL OSI Analysis – EveningReport.nz –

    September 29, 2024
  • MIL-OSI United Kingdom: Embracing life-long learning in forestry

    Source: United Kingdom – Executive Government & Departments

    A case study of Forestry Commission and Forestry England staff on the support they’ve received to develop their careers in forestry.

    Forestry is a highly rewarding career, as you, alongside other passionate people, are helping to look after something incredibly valuable. You can make a real difference to the environment, people’s enjoyment of the great outdoors, nature recovery and the green economy. The sector also offers a wide range of roles and encourages life-long learning.

    Meet those across forestry making a difference and learn about the support they’ve received to develop the crucial skills needed to perform at their best.

    Abi Davis, Recreation Ranger, Forestry England

    Abi Davis on her mountain bike at work, Crown copyright

    Abi started her career with the Forestry Commission in 2015 and over the years has taken on various roles including surveying, craftsperson and recreation support. Transitioning to a role in recreation introduced her to the exciting world of mountain biking, where she learnt alongside experienced colleagues.

    As part of her role, Abi underwent ‘Cycling at Work’ training (Levels 1 and 2) with British Cycling. Over the 2 days, she honed her skills and knowledge in bike maintenance as well as her mountain biking abilities and confidence both on and off the trails.

    Abi said,

    A highlight was the support from one of the coaches who got me riding down a rock garden – something I didn’t think I was capable of!

    Abi describes the training as invaluable. Inspecting cycle trails on her mountain bike allows her to experience them as visitors do. She can promptly identify issues with waymarking, vegetation management and trail flow. After stormy weather, she’s able to assess the trails quickly and safely for damage to enable faster reopening for visitors to enjoy.

    Abi added,

    Being a Recreation Ranger allows me to combine my love for the outdoors with my passion for helping others to enjoy nature, ensuring our forests are accessible and enjoyable for all.

    Seeing people enjoy our forests, especially through initiatives like our off-road mobility scooters – otherwise known as ‘trampers’, is incredibly fulfilling. These scooters provide access to those who might not otherwise be able to experience the forest, and hearing how it changes their lives is truly humbling.

    Tristan Haynes, Woodland Creation Officer, Forestry Commission

    Tristan on a site visit for the Woodland Creation Planning Grant, Crown copyright

    As a Woodland Creation Officer, Tristan provides expert advice on woodland design, site preparation and the grants available to landowners considering woodland creation.

    Tristan must keep abreast of the latest guidance and forestry best practice, which led him to complete a 2-day training programme on soils and woodland resilience. The course contributed to his continued professional development and in-depth understanding of forestry. Learning about these highly technical elements means Tristan can apply his specialist knowledge to improve the standard of woodland plans put forward for the Woodland Creation Planning Grant (WCPG).  

    The training provided an understanding of how site soil analysis can improve the results of Forest Research’s Ecological Site Classification (ESC) tool. It also gave insight into how soil analysis can inform what ground preparation and site maintenance operations are necessary ahead of planting. Tristan feels more confident in helping applicants and agents with deciding the optimal tree species to plant, to ensure the longevity and success of their tree planting scheme.

    When asked what he loves most about working in forestry, Tristan said it was his involvement in the process of developing well-considered woodland creation plans and their future management.

    Tristan added,

    Woodlands contribute in so many ways to immediately improve social well-being, the wider environment and economy.

    He feels his role is contributing towards further developments to the forestry sector and long-term sustainability of the wider rural sector in England.

    Ordel Gillson, Compliance Manager, Forestry Commission

    Ordel at her desk, Crown copyright

    As Compliance Manager, Ordel provides advice to ensure that teams adhere to legal standards, regulatory requirements and internal policies. Her role includes risk monitoring, assurance of grant processes and collaborating with grant managers.

    Ordel is currently in her third year of a CMI Chartered Managers Degree Apprenticeship with the University of Cumbria.

    Her degree is funded by the Department for Environment, Food and Rural Affairs (Defra) and covers all aspects of business operations with a focus on taking responsibility for people, projects, operations and/or services to deliver long-term organisational success. The course has helped her to manage projects more efficiently and to effectively lead her team to deliver on the Forestry Commission’s objectives for woodland creation and management.

    Ordel hasn’t always worked in forestry. Prior to her career change, she served in the Royal Navy for 23 years. This is her first degree, and she says that her line manager has been very supportive of her professional development, especially as over 20% of her working week goes towards her apprenticeship.

    Her favourite part of her job is the team ethos. It was a big change for her to leave behind her military career and because of the team collaboration and support, she still feels she has that sense of community and belonging.

    Ordel said,

    It makes you feel valued by the organisation because they’re investing in you to get this qualification and ultimately, it’s going to benefit the organisation as well.

    Katarzyna Bromek, Incentives Development Project Officer, Forestry Commission

    Forestry Commission staff learning about a harvester on the ‘Forestry in a Nutshell’ course, Crown copyright

    Katarzyna, otherwise known as Kasia, is an Incentives Development Project Officer who works within the Incentives Development Team. The team is responsible for supporting the operations team to develop and improve all aspects of the England Woodland Creation Offer (EWCO).

    As part of Kasia’s training, she took part in ‘Forestry in a Nutshell’, a highly sought after 2-day course offered to non-operational forestry staff acting as a crash course on forestry operations in the field.

    Kasia gained valuable knowledge about different tree species and the direction that UK forestry is heading. She also learned a lot about the current forest operation policies and the ins and outs of the forester and woodland officer roles.   

    The course helped deepen her understanding of how the Forestry Commission operates and how her team contributes to the bigger picture. She says the course has inspired her to learn more about nature and the environment and is keen to take more forestry courses as a result.

    Kasia added,

    I love working for forestry and knowing that future generations will benefit from the woodland planting that I am involved in. It gives me a sense of fulfilment and satisfaction. It is great to know that through my work I can contribute to addressing the climate emergency and create an environment which will be beneficial for wildlife and people.

    Discover more forestry careers resources and stories of those making a difference in forestry.

    Updates to this page

    Published 23 September 2024

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI Economics: UN Secretary-General and Heads of MDBs to Enhance Collaboration to Address the Challenges of Achieving the SDGs

    Source: Asia Development Bank

    NEW YORK, UNITED STATES (23 September 2024) — United Nations Secretary-General António Guterres and top UN officials met with the Heads of Multilateral Development Bank (MDB) Group on Sunday in a joint effort to better support countries in accelerating progress towards achieving the Sustainable Development Goals (SDGs) by 2030.

    The high-level dialogue, which included five Presidents and three Vice-Presidents of the major MDBs, further advances the partnership between the UN and the MDB systems. The International Monetary Fund Managing Director also attended the meeting.

    MDB Heads shared with the UN leadership their reforms to become a better, bigger and more effective system with a renewed sense of urgency and determination. The Secretary-General underscored the importance of MDB reforms as part of his call to unlock greater volumes of affordable long-term resources to close the SDG financing gap.

    UN and MDB leaders discussed enhancing collaboration at the country level, especially in fragile and conflict-affected countries, as well as their efforts to catalyze private sector resources towards sustainable investments.

    MDBs also agreed to collaborate towards the Fourth International Conference on Financing for Development (FfD4) next year in Seville, Spain, where public, private and civil society leaders and organizations will assess progress and chart a course forward on financing for the SDGs.

    Following the working meeting, Canada, Jamaica, and Spain co-hosted an open dialogue with MDB leaders, UN Deputy Secretary-General Amina J. Mohammed, and high-level UN Member State delegates.

    MDB leaders highlighted their progress working as a system for greater impact and scale, the key role of concessional finance to support the poorest, and their work on financial innovation. MDBs also briefed Member States on their joint work, based on concrete deliverables outlined in the “Viewpoint Note”, a joint MDB workplan released in April 2024. These wide-ranging initiatives include scaling-up MDB financing capacity, boosting joint action on climate, and enhancing development effectiveness and impact.

    MDBs also discussed how they can channel Special Drawing Rights to significantly increase financing for the SDGs, including supporting initiatives such as the G20 Global Alliance against Hunger and Poverty.

    Sunday’s meetings took place against the backdrop of the Summit of the Future, a unique gathering of world leaders at the UN General Assembly focused on strengthening multilateral cooperation, including on international finance, to tackle shared global challenges, including climate change, poverty and inequality.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

    The following leaders attended the high-level dialogue:

    • Akinwumi Adesina, President, African Development Bank  
    • Ajay Banga, President, World Bank Group  
    • Mark Bowman, Vice-President, Policy and Partnerships, European Bank for Reconstruction and Development  
    • Nadia Calviño, President, European Investment Bank 
    • Ilan Goldfajn, President, Inter-American Development Bank and Chair of MDB Group 
    • Kristalina Georgieva, Managing Director, International Monetary Fund
    • Rebeca Grynspan, Secretary-General, United Nations Conference on Trade and Development
    • António Guterres, Secretary-General of the United Nations
    • Zamir Iqbal, Vice-President, Finance and Chief Financial Officer, Islamic Development Bank 
    • LI Junhua, Under-Secretary-General, Department of Economic and Social Affairs, United Nations
    • Amina Mohammed, Deputy Secretary-General, United Nations 
    • Carlo Monticelli, Governor, Council of Europe Development Bank 
    • Scott Morris, Vice-President, East and Southeast Asia and the Pacific, Asian Development Bank   
    • Courtenay Rattray, Chef de Cabinet to the Secretary-General of the United Nations
    • Rodrigo Salvado, Director General, Operational Partnership Department, Asian Infrastructure Investment Bank  
    • Achim Steiner, Administrator, United Nations Development Programme 

    MIL OSI Economics –

    September 29, 2024
  • MIL-OSI United Kingdom: National Parks have vital role for climate and community

    Source: Scottish Greens

    23 Sep 2024 Nature

    Scotland’s National Parks are special places.

    More in Nature

    Scotland’s National Parks are playing a vital role for our environment and nature, and for local communities, says Scottish Green co-leader Lorna Slater MSP.

    Ms Slater’s comments follow the publication of a groundbreaking new report by Scottish Environment Link, which has found that, as well as having vast benefits for nature, Scotland’s two existing National Parks regularly generate hundreds of millions of pounds a year for the economy.

    At present the Scottish Government is considering whether a third National Park should be created in Galloway.

    The pledge to create at least one new National Park in Scotland by 2026 was a key commitment of the Bute House Agreement that saw Scottish Greens entering government for the first time. 

    As the former Minister for Biodiversity, Ms Slater led on the project and oversaw a lot of the process that has led to the designation.

    Ms Slater said: “Scotland’s National Parks are really special and beautiful places, and are rightly celebrated around the world. When the Scottish Greens were in government we pushed hard for a third one to be created. 

    “I have no doubt that if it is given National Park status, Galloway will be just as renowned and iconic as the Cairngorms and Loch Lomond and The Trossachs. The status will also lead to greater investment in the local economy while creating high quality jobs, especially for local young people.

    “Our National Parks are jewels in our nation’s crown and have been the backdrop to millions of wonderful memories. They are having a transformative impact for local nature and communities, and they are responsible for a lot of vital investment, protections and opportunities.

    “If we are to build a greener future for Scotland then our National Park network has a key role to play. I welcome this report and hope we will see even more National Parks across Scotland in the years ahead.”

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI United Kingdom: Residents supported to apply for benefits

    Source: City of York

    A report indicating financial pressures among York residents reveals the level of need facing the council’s welfare benefit resources and how it plans to support those households.

    In July 2024, 2,700 households, including 1,844 children were shown to be in relative poverty.

    A range of local welfare support for residents includes the York Financial Assistance Scheme (YFAS), Council Tax Support and Discretionary Housing Payments as well as a food and fuel voucher scheme.

    A measure of need in the city is the YFAS. In 2023 and 2024, it received 1,223 applications for help and the average award value has risen from £499 in 2022 and 2023 to £635 in 2023 and 2024. This is due to the level of need facing applicants and an increase in the cost of the items provided such as flooring which helps manage energy costs.

    To ensure the council can continue to provide emergency support to the end of the 2024 and 2025 financial year, residents can apply to YFAS once a year.

    Cllr Katie Lomas, Executive member for Finance, Performance and Major Projects, said:

    Far too many people in York are struggling to afford to live. We cannot fix the entire system but we can work to ensure that our resources are directed to those who need them most.

    “While I welcome the extension of the Household Support Fund up until March 2025, we have much to do to support residents with the continued pressures of the high cost of living. We’re writing to eligible residents and urging others to apply for Pension Credit. This could put £100s of extra a month individually in their pockets, totalling an additional £1.3m across York, while also unlocking benefits including automatic payment of the Winter Fuel Payment.

    “It was good to hear from council officers the plans they are making to support those who may just miss out on Pension Credit but still face difficult choices this winter between heating and eating.

    “We’re also continuing our Talk Money campaigns to encourage people to get all they’re entitled to, find out how to reduce costs and get good advice. The next campaign will be from 4 to 15 November when we’ll be encouraging applications for Council Tax Support and Attendance Allowance.”

    Cllr Bob Webb, Executive member with joint responsibility for financial inclusion, said:

    York households and families face more expensive daily lives than ever before. To give them a more secure financial footing, council services have collaborated and adapted to meet the increased needs and challenges facing residents, alongside the council’s own budgetary constraints.

    “In close partnership with voluntary and community organisations, we continue to co-ordinate and make the best use of the resources to effectively support residents.”

    To find out more about what support you could apply for, check which benefits you could be eligible for.

    Read the full report for the Decision Session for Executive Members for Finance, Performance, Major Projects, Human Rights, Equality and Inclusion, Thursday 19 September 2024 at 10.00am.

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI United Nations: WFP Receives US$33 Million from USDA for School Meals in Nepal

    Source: World Food Programme

    KATHMANDU – The United Nations World Food Programme (WFP) welcomes US$33 million from the United States Department of Agriculture (USDA) to enhance the National Mid-day Meal Programme in Nepal for more than 120,000 children annually.

    The funds have been awarded to WFP’s Nepal office through a competitive process operated by USDA’s McGovern-Dole International Food for Education and Child Nutrition Program (McGovern-Dole), which has a long history of supporting Nepal’s efforts to promote food security and opportunities for education.

    This award will support a comprehensive five-year initiative (2023-2028) focused on improving education, nutrition and health for children across the country, jointly implemented by WFP in partnership with the Ministry of Education, Science and Technology, Embassy of United States of America in Nepal, cooperating partners World Education (a division of JSI), Integrated Development Society Nepal, and Mercy Corps.

    The award (in-kind and cash) will ensure that children receive nutritious meals every day at school, a vital social safety net promoting access to and equity in education, health and literacy, especially for children from food-insecure families. This essential support will annually benefit 122,000 pre-primary and primary school children from more than 1,000 schools across Bajhang, Bajura and Darchula Districts of Sudur Paschim Province. 

    “For many families in far western Nepal, food scarcity is a serious challenge that makes it difficult for parents to feed their children,” said Robert Kasca, WFP Nepal’s Representative and Country Director. “Offering school meals serves as an incentive for these parents to send their children to school, especially girls, creating opportunities for breaking the cycle of hunger and poverty.”

    The school meals will be prepared with fortified rice and fortified vegetable oil, donated by the McGovern-Dole International Food for Education and Child Nutrition Program. The rest of the ingredients will be sourced from local markets and smallholder farmers in the vicinity of schools, scaling up a home-grown approach to the Mid-day Meal Programme. 

    “In Nepal, the McGovern-Dole International Food for Education and Child Nutrition Program works through its implementing partner, the World Food Programme. Through the McGovern-Dole Program, more than 700,000 children have received a daily school meal in the most remote areas of Nepal. Building on previous success here in Nepal, the project will continue to carry out complementary activities with a strong focus on building the government’s capacity to eventually and successfully handover the project to the government of Nepal,” says Erika Beltran, Senior International Program Specialist, for USDA’s McGovern-Dole Program.

    In addition to implementing the school meals programme, WFP will continue to support the Ministry of Education, Science and Technology in strengthening government capacity at federal, provincial and local levels to ensure a full transition of the programme to the government by 2028. Moreover, the Ministry will receive technical assistance and capacity strengthening support from WFP in the areas of logistics and supply chain, planning and implementing cost-efficient and nutritious school meal menus, procurement and supply of commodities, and consolidating the national policy framework.

    McGovern-Dole funds school meals and education and nutrition programs for women, infants, and children in countries with high food insecurity. By providing school meals, teacher training, and related education and nutrition support, McGovern-Dole projects help boost school enrollment, increase attendance, and improve reading outcomes and literacy results. The program provides for the donation of U.S. agricultural commodities, local and regional procurement of agricultural commodities, and financial and technical assistance to support school feeding and maternal and child nutrition projects. It started providing school feeding assistance in Nepal since 2005. For more information, visit https://www.fas.usda.gov/programs/mcgovern-dole-food-education-program

    #                    #                       # 

    The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change. 

     

    Follow us on Twitter: @WFP_Nepal  

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI United Nations: Ireland and WFP renew partnership to support self-reliance for refugees and boost food security in Karamoja

    Source: World Food Programme

    KAMPALA – Through a multi-year commitment (2024-2027), the United Nations World Food Programme (WFP) has welcomed a contribution of US$19.6 million (EUR18 million) from the Government of Ireland to support the Government of Uganda to strengthen self-reliance initiatives for refugee communities and to enhance social protection and school feeding in the Karamoja sub-region.

    “Support to Karamoja and refugee communities continues to be an integral part of our strategy in Uganda,” said H.E Kevin Colgan, Ambassador of the Republic of Ireland to Uganda. “This contribution is part of Ireland’s commitment to keeping Karamoja children in school, improving food security and nutrition, strengthening people’s livelihoods, and boosting the local economy. Reaching the furthest behind is core to our international development policy.”

    In Karamoja, this contribution will enable WFP to procure locally-available maize, beans, and vegetable oil for school meals, benefiting 220,000 school children and smallholder farmers, and thereby stimulating local economies. In this hotspot of the climate crisis, WFP will also boost community resilience by restoring degraded land, promote crop diversification and improve post-harvest management. WFP will also support the Government to extend social protection programmes, particularly through the dissemination of early warning information via radio and other channels ahead of climate shocks such as droughts and floods.

    In refugee hosting districts, over 50,000 refugees will be empowered to transition from humanitarian assistance to self-reliance by supporting them to invest in alternative livelihoods so they can sustain their families. WFP is collaborating with the Government of Uganda and other partners to promote income generation for refugees and host communities through farming and other livelihood opportunities to support refugee and host communities in surrounding areas to become food secure. This Self-Reliance Model is funded by the governments of Ireland, Norway and the United Kingdom.

     “We are grateful for the contribution from the Government of Ireland supporting our efforts to encourage self-reliance and reduce the need for humanitarian assistance in Karamoja and in refugee settlements,“ said Abdirahman Meygag, WFP’s Country Director and Representative in Uganda. “By providing life-changing assistance, WFP is creating a pathway to a brighter future for Uganda.” 

    Karamoja faces multiple development and socio-economic challenges. While Uganda is expecting improved crop production in 2024 due to increased rainfall, more than 400,000 people in Karamoja (30 per cent of the population) are projected to face crisis-levels of food insecurity (IPC3+) according to the latest Integrated Food Security Phase Classification analysis (IPC). Similarly, WFP’s April 2024 Post-Distribution Monitoring indicates that 7 in 10 refugee households are still facing severe or moderate food insecurity levels.

    Faced with limited resources and following extensive consultations with refugees and key stakeholders, WFP is prioritising the most vulnerable refugees for food assistance. While building pathways towards self-reliance, WFP continues to support close to 1.4 million out of 1.7 million refugees in Uganda with monthly food and cash assistance.

    Ireland has previously contributed EUR 11.4 million to WFP’s operations in Uganda from 2020 to 2023. 

    #                            #                         #

    The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters, and the impact of climate change. 

    Follow us on Twitter @WFP_Uganda @WFP_Africa

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI Global: AfD: how Germany’s constitution was designed with the threat of extremism in mind

    Source: The Conversation – UK – By Simon Green, Professor of Politics, Aston University

    German chancellor Olaf Scholz’s SPD has narrowly held off the rightwing Alternative für Deutschland (AfD) in regional elections in Brandenburg, nudging them into second place.

    The close call follows two other recent elections in Germany’s eastern federal states (Länder). In Thuringia, the AfD won the highest share of the votes. In Saxony, the AfD narrowly came second to the centre-right CDU. Importantly, the regional AfD organisations in both Saxony and Thuringia, along with Saxony-Anhalt, have officially been designated as extreme right. This means that the party in these states is formally considered by Germany’s domestic security service to be a threat to the country’s democratic constitutional order.

    Although the country’s proportional electoral system means that the AfD cannot form a government in any of the three states by itself, this is the first time since 1945 that an officially extremist party has won an election in Germany.

    It’s not unreasonable for those outside Germany to questions whether these election results show that the country once more stands on the cusp of a slide into fascism, as it did in the 1930s. However, quite apart from the fact that 2024 is not the same as 1933, there is one important structural difference: Germany’s constitution (the Grundgesetz or Basic Law). This was explicitly designed to prevent a recurrence of a totalitarian regime such as national socialism.

    The Basic Law dates back to 1949 – a time when the country was in the process of splitting into west and east. Coming into force during this period of transition, the document was only a provisional constitution. Yet the Basic Law has outlasted any of the previous three state forms since Germany was first unified in 1871. Today, it enjoys widespread popular support: a recent survey showed 81% of the population view it positively.

    In its content, the Basic Law is a living testimony to Germany’s desire to prevent a return to National Socialism. In articles 1-19, it enshrines a comprehensive catalogue of fundamental rights, which cannot be removed from the constitution. These include the right to dignity, freedom, privacy, free assembly, freedom of the press and to political asylum.

    The Basic Law also established one of the most powerful independent constitutional courts in the world. The court even has the right to ban political parties, or to limit the fundamental rights of individuals who are found to be undermining the constitutional order, as had been in the case in Weimar Germany. For this reason, Germany is considered to be a militant democracy. While the outright banning of parties is fraught with political difficulties (and hence rare historically), there is a live debate over whether the AfD’s policies and rhetoric are ultimately compatible with Germany’s constitution.

    More subtly, Germany’s governance structures are designed to make it practically impossible for a hostile grouping to seize power democratically. The German chancellor has much less power than, say, the British prime minister. In particular, the structures of federalism and coalition government further constrain the room for manoeuvre of any individual politician or indeed any single political party.

    The Grundrechte is inscribed on a wall in Berlin for all to see.
    Jakob-Kaiser-Haus/Wikipedia, CC BY-SA

    Major functions of policy implementation are delegated to powerful societal actors, such as professional bodies. These are geographically distributed around the country, along with the media, key corporate headquarters and the unions. The ability of Germany’s central bank, the Bundesbank, to set monetary policy independent of political control, itself a response to the hyperinflation of the early 1920s, has made it a model for both the European Central Bank and the Bank of England today.

    In short, and in the words of the German-American political scientist Peter Katzenstein, the German state is only “semisovereign”.

    In consequence, the Basic Law is not just a document setting out the political “rules of the game”, but an expression of Germany’s values. Its longevity has benefited from the willingness of political elites down the years to adapt its provisions, where necessary, to changing circumstances. And in several respects, the past remains very much the present in German politics. For instance, the right to privacy, which was originally included to prevent the reoccurrence of Nazi Germany’s pervasive surveillance, is given new meaning in an age of global digital connectivity.

    Pressures ahead

    Certainly, Germany today faces multiple challenges. As society has evolved, Germany’s party system has fragmented, with more parties securing seats in the national parliament, the Bundestag. Of these, the AfD has been by far the most successful, and could potentially become the second largest party at the next parliamentary elections in 2025. This fragementation, which is not unique to Germany, has made the formation of coalition governments harder. Fortunately, this has so far not led to out-of-cycle national elections, of the kind which plagued the latter years of the Weimar Republic.

    And there are concerns beyond politics. From the “economic miracle” in the 1950s, Germany’s growth has slowed significantly, averaging just 1.2% per year between 2012-2022; in the last two years, the economy has barely grown at all. Compared to other advanced economies, it remains disproportionately reliant on exporting high added value manufactured goods.

    The reunification of Germany in 1990 also continues to cast a long shadow. In any number of economic and social indicators, including household incomes, religion and childcare patterns, eastern Germany remains structurally different to western Germany. Across the country, the population is ageing and, without substantial net migration over time, will decline over the next 30 years. Yet immigration also remains one of the biggest political issues of the day, and a key driver of the AfD’s electoral success.

    Nonetheless, given Germany’s difficult journey to statehood in the 19th and early 20th centuries, the Basic Law remains a strong guarantor of Germany’s democratic credentials. For this reason, former federal president Joachim Gauck was surely right to declare earlier this year that the Germany created by the Basic Law is “the best that ever existed”.

    Simon Green 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.

    – ref. AfD: how Germany’s constitution was designed with the threat of extremism in mind – https://theconversation.com/afd-how-germanys-constitution-was-designed-with-the-threat-of-extremism-in-mind-230594

    MIL OSI – Global Reports –

    September 29, 2024
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