NewzIntel.com

Category: Economy

  • MIL-OSI Australia: Press conference, Beijing

    Source: Australian Treasurer

    JIM CHALMERS:

    Yesterday afternoon and into last evening I co‑chaired with Chairman Zheng Shanjie, the Chairman of the National Development and Reform Commission (NDRC), the first Strategic Economic Dialogue in 7 years.

    These were frank and fruitful discussions between myself and the Chairman of the NDRC. The discussions ran for more than 3 hours. They ran over time. We are very grateful for the time that the Chairman was able to give us at a time when there’s a lot going on here in China, and I wanted to talk about that a bit as well.

    These were the first meetings by an Australian Treasurer here in 7 years. It’s another really important part of our efforts as a government to stabilise this really key economic relationship in the interests of our people.

    This economic relationship is full of complexity and full of opportunity, and we believe we give ourselves the best chance to manage and maximise those complexities and those opportunities when we engage in a meaningful way, as we have been doing over the course of the last couple of days.

    Obviously Australia and China – we have our differences. But we have agreed to work together where we can when it comes to really important areas like trade and investment, decarbonisation of our industries and business engagement as well.

    I’m really pleased that we agreed yesterday that we would conduct these Strategic Economic Dialogues annually, and the next one will be in Australia next year.

    We were able to have advanced discussions, frank and fruitful, productive and practical discussions, about the key issues confronting both of our economies and the global economy more broadly as well.

    There couldn’t have been a more important time to be engaging with Chinese counterparts than right now. We saw the announcements made earlier in the week and more signalled yesterday by senior policymakers here in China.

    I want to make it really clear – we welcome efforts to boost growth in the Chinese economy. We are very pleased to see these additional steps being signalled by the Chinese government in order to boost economic activity and boost growth here in China.

    China is Australia’s biggest partner. We have a lot at stake and a lot to gain when it comes to this key economic relationship. If you look at the Treasury forecasts for growth in the Chinese economy, if they eventuate, those 3 years of forecasts, that would be the weakest period of growth here in China since the opening up in the late 1970s. What happens here and what is decided here has big consequences for our own economy, our own workers, businesses, investors and for our country more broadly.

    We do have a lot at stake, and we do have a lot to gain when it comes to the engagement and the stabilisation of the relationship with China as well. We know that a more stable relationship is good for Australia, and that’s why I’m here. It’s as simple as that. That’s also why I consulted with the Chairs and CEOs and senior executives of around 15 different very major China‑facing Australian businesses, because we do know just how important it is that we get this right.

    Growth in the Chinese economy has been a key contributor to weakness in the global economy. When the Chinese economy is soft, we’re not immune from that. We understand that. That’s an important reason for the timing of this visit being so crucial.

    Shortly I’ll be meeting with the Chairman of the Chinese Securities Commission as well, Wu Qing, and I will get from him some further insights about the performance of the Chinese economy, particularly the financial conditions here. That will also be another opportunity to talk about the measures announced and signalled through the course of this week.

    I was very grateful to Chairman Zheng last night for the opportunity formally in the dialogue and then informally at the dinner to canvass some of the contexts for the decisions that have been taken, announced or signalled in the course of this week. The NDRC is really going to be one of the most important institutions when it comes to rolling out this support for the Chinese economy at a really important time.

    It was crucial that we restart these discussions, the Strategic Economic Dialogue. It’s a very good outcome for Australia that we will be hosting counterparts next year to continue to advance these discussions on areas like trade and investment, decarbonisation of our industries and business engagement. I’m looking forward to hosting colleagues and counterparts next year in Australia.

    So very valuable and well‑timed discussions. Very practical, very productive. I’m grateful for the generosity of our Chinese host as we canvass some of these really important issues.

    I’m happy to take some of your questions.

    JOURNALIST:

    Treasurer, as you say, you couldn’t have got luckier with the timing. How convinced are you by the extent of the stimulus measures announced by the Chinese this week?

    CHALMERS:

    Clearly some of the detail of these measures is still to come and subject to those details we think this is a really welcome development, a very welcome development here in China but also for the global economy, and especially for our own economy.

    We are very pleased to see the Chinese authorities announce or signal the sorts of steps that we have been hearing about this week publicly and also in our private discussions with our counterparts.

    This can only be a good thing for Australia, subject to those details, because we know that weakness in the Chinese economy does flow through to our own economic conditions. Some of the key reasons why our own economy is slowing considerably are global economic uncertainty, of which China is a part, combined with inflationary pressures at home and the impact of higher interest rates – those 3 things are combining to slow our own economy considerably.

    When steps are taken here to boost economic activity and to boost growth for the Chinese economy, subject to the details that will be released in good time, we see that as a very, very good development for Australia.

    JOURNALIST:

    But do you think they’ll work?

    CHALMERS:

    It remains to be seen. But we’ve seen on earlier occasions when the authorities here, the administration here, steps in to support activity in the economy that is typically a good thing for Australia – good for our businesses and workers, our industries, our investors, and good for the global economy as well.

    Like a lot of people around the world, we have been concerned about the softer conditions here in the Chinese economy. Subject to the details that will be made public in good time, any efforts to boost growth and support activity here is a welcome one around the world and especially at home in Australia.

    JOURNALIST:

    Can you talk us through some of the specific impacts that happens in Australia, the flow‑on effects, when you have an annual growth figure here in China that is below that 5 per cent target?

    CHALMERS:

    We see that across a range of different indicators, but the easiest to understand is the demand for and the price that we’re getting for some of our bulk commodities. One of the reasons why I consulted with BHP and Rio and Fortescue and Woodside and others before I came here to China is to understand the implications for our exports of a softer Chinese economy.

    We’ve seen the iron ore price, for example, is really quite low by recent historical standards. I think it’s down about 40 per cent since the start of the year. Similarly, when it comes to thermal coal. That has implications for us. It has implications for the Budget but, more importantly, it has implications for the economy. Even if in the course of this week we’ve seen a minor correction, a minor improvement, in the prices we get for some of our bulk commodities. That’s obviously a good thing when it comes to our major exporters.

    But more broadly, softness here has implications for growth in the global economy. We’ve even seen in the last 24 hours or so our own Reserve Bank putting out its financial stability analysis and has talked about the consequences of weaker Chinese growth for the global economy. We’re not immune from that, really, right across the board. But the easiest way to understand it is when it comes to the impact on our exporters.

    JOURNALIST:

    Treasurer, there’s been a lot happening in Beijing on the economic front. There’s also been lot going on on the military front. There was the first intercontinental ballistic missile shot in more than 4 decades a few days ago, and on Wednesday before you arrived Australia, Japan and New Zealand sailed their navy vessels through the Taiwan Strait. We’ve also had all 3 of China’s aircraft carriers for the first time operating on [inaudible].

    Can I get a direct comment on the ballistic missile [inaudible] and a comment on Australia’s freedom of navigation operation? And then maybe just talk to us about how you reconcile, obviously, the economic relationship is so important, but there’s other things going on as well, just talk to us about you reconcile that, thanks very much for that.

    CHALMERS:

    Thanks very much for that, Will.

    Australia, like other countries in our region and around the world, has a lot at stake when it comes to a stable, secure, peaceful and prosperous region. It’s not unusual for navies to conduct the kind of exercises that you’re describing in the Taiwan Strait. These are routine activities, and they’re conducted in accordance with international law. That wasn’t part of our discussions yesterday.

    In terms of the other parts of your question, I was able to reiterate in the meetings yesterday afternoon our expectations of safe and professional conduct of all militaries operating in our region. Obviously I’m aware of the reports about the testing and other reports that you refer to in your question, and I was able to raise that in the conversation yesterday afternoon. But as you would expect, the overwhelming focus of our discussions here has been the economy.

    JOURNALIST:

    So in your discussions yesterday about the stimulus measures, was there any discussion about whether these plans are aimed at very short term now or whether this was medium term? [Inaudible] And also, how do you see [inaudible]? Is this actually going to supercharge Chinese national output and Chinese exports? [Inaudible]

    CHALMERS:

    In reverse order, I was able to talk about the importance of safeguarding the global rules‑based system of open trade in the context of some of the issues you raise in your question and the free and fair and open markets that have served the global economy and our economy so well for so long.

    When it comes to the urgency or otherwise of steps that have been flagged to boost growth here, I don’t want to go too deep into the informal conversations that we had about some elements of that, but it was a feature of our discussions.

    This balance that we’re all trying to strike between doing what is necessary in the near term – whether it’s here supporting growth, in Australia, a primary focus on inflation on the cost of living without ignoring the risks to growth – balancing those near‑term considerations with what we need to do to set ourselves up for another generation of growth and prosperity.

    The discussions were about those steps flagged and announced throughout the course of the week. Some elements of that will have some urgency associated with it. But the government here wants to make sure that anything that they’re doing in the near term also serves a useful longer term purpose. In that, we have a lot in common. In Australia fighting inflation without ignoring the risks to growth, budget repair but also investing in skills and housing and energy and in a Future Made in Australia – all that is about trying to recognise our near‑term pressures and our longer‑term opportunities, and that’s how my Chinese counterparts see it as well.

    JOURNALIST:

    [Inaudible] the US is [inaudible] some kind of [inaudible]. What will Australia be doing about that? And did your Chinese counterpart raise that in his [inaudible]?

    CHALMERS:

    My colleague the Energy Minister has made it clear that we don’t intend to ban imports of EVs from any particular country.

    We will continue to discuss with American counterparts the steps that they’ve announced and the steps that they’re taking when it comes to EVs. But we will take our own advice when it comes to the best way to manage and maximise that really important market for EVs.

    These sorts of issues came up in the broad in the discussions yesterday afternoon. We know that this is an issue of concern to our Chinese counterparts. But from our point of view, when it came to technology and innovation and the net zero transformation, our highest priority and our focus in the discussions was on other areas, including the decarbonisation of steel, for example, trying to maximise the chances that we have working together when it comes to our iron ore and their steel production. We both have an interest in greener steel production, and so that was a bigger part of the conversation than some of these other issues around EVs and other technology.

    JOURNALIST:

    Treasurer, I’m sure Australian lobster farmers would be very interested to know whether you raised their concerns yesterday. Are you any closer to knowing when the ban will be lifted? Will it be this year?

    CHALMERS:

    I did raise it last night and yesterday afternoon. We’re seeking a speedy resolution of the restrictions on lobster.

    We’ve made really quite encouraging progress, engaging with Chinese counterparts, to see something like 20 of the $21 billion in trade restrictions lifted. That’s good for our workers and our businesses, our exporters and our investors. I wanted to pay tribute there to the efforts of our people here in China led so capably by our Ambassador, but also Ministers Wong and Farrell and the Prime Minister.

    This is a very tangible way that we have seen progress made as a consequence of our effort to stabilise the relationship. There is more trade of more goods than when we came to office because of those efforts.

    Obviously we’re aware we have a little ways to go yet, particularly when it comes to lobster. I did raise that. We are seeking the speedy resolution of those issues. We know that teams on both sides are discussing the issue of lobster in particular, trying to get to a resolution on that. We’d like to see that before long.

    JOURNALIST:

    What’s the hiccup?

    CHALMERS:

    As I understand it, there are still a couple of technical issues being worked on between our agriculture and trade departments and administrations. We knew that coming here.

    I intended to raise it here and I have. We do want to see a speedy resolution, but we know that there’s a little bit more work to do. But ideally, hopefully, we will see our wonderful Australian lobster gracing the tables of Chinese homes and restaurants as soon as possible.

    JOURNALIST:

    The Chinese delegation was seeking reassurances around Chinese investment in Australia. Did they raise anything specific [inaudible]?

    CHALMERS:

    I really welcomed the opportunity to convey to Chairman Zheng and to his colleagues the same thing which I have said publicly, and I mean it.

    Our foreign investment regime does not target any one country. Ours is a non‑discriminatory regime, which is about managing risks in foreign investment. It’s about strengthening the foreign investment regime and streamlining it where we can to manage the economic and security risks which are sometimes part of foreign investment proposals. That doesn’t single any one country out. It is just a sensible, considered, commonsense way to manage foreign investment in Australia.

    Foreign investment in Australia is welcome. We support overwhelmingly most of the applications that are made to us. Where a proposal is rejected it hasn’t all been from one country. It hasn’t all been from here.

    I really did genuinely welcome the opportunity to step the Chairman through that. We agreed to have more discussions about some of those issues. Wherever we can provide more clarity on these sorts of issues we welcome the chance to do that.

    JOURNALIST:

    What did they say about critical minerals? Because obviously some of those investors have been in that industry. It’s something the Chinese dominate in, and we have seen the announcement earlier this week of the co‑financing agreement between Australia and the US and other countries. So were they concerned about these efforts to diversify supply chains in critical minerals?

    CHALMERS:

    There’s a recognition that every country manages its economic and national security interests in a way that’s appropriate for them.

    Every country has some system or set of arrangements to screen investment, and countries make agreements with each other about key supply chains like this one.

    We think that critical minerals are the opportunity of the century for Australia. I am a huge supporter of the Australian critical minerals industry. But our efforts there aren’t about protecting. They’re about engaging with the world, providing wonderful critical – Australian critical minerals – to markets around the world. Obviously not just with our Chinese counterparts but right around the world there’s a lot of interest in Australian critical minerals, and that’s for good reason.

    JOURNALIST:

    Do you see the Chinese overcapacity in thins like rare earths as being a threat to Australia’s industries? Australia’s paying billions of dollar to companies like Arafura to develop the industry and yet Chinese exports are growing and prices are falling. Are those – firstly, are those investments by the Australian Government and those companies at risk, and, secondly, did you raise those issues with the Chinese?

    CHALMERS:

    We’ve been one of the world’s major beneficiaries of properly functioning global markets for resources and for other goods and services as well. The global economy has been a major beneficiary of that, and we’ve been a major beneficiary of that. We want to see it continue.

    Clearly, when it comes to some markets for some resources, we’ve seen some extraordinary volatility in some of those markets. I was able to reiterate with Chairman Zheng just how much we value the proper functioning of global rules‑based markets. I believe that it’s in everyone’s interests that see those markets function properly.

    JOURNALIST:

    Just following on on investment, [inaudible] Australia‑China Business Council Summit. There’s been a lot of confusion among Australian China facing businesses and Chinese businesses who want to operate in Australia, they heard the comments you repeated today about Australia not having – not targeting any one country. But then they say, well, look at the reality of it. They said they’re very confused about where they’re allowed or not. You have approved or allowed the investment of Rio and [inaudible] for that new iron ore project 2 years ago. Clearly Investment can be approved from China. Can you speak to the model? Is it that? Is it a 50–50 JV with an Australian partner? Is that what Chinese businesses should be coming to Australia with if they want success? Just speak to that a bit.

    CHALMERS:

    We approach each proposal on a case‑by‑case basis, and we’ve done our best to provide as much information and clarity and certainty about the sorts of things that we consider when we judge those applications on a case‑by‑case basis.

    We’ve made it very clear, for example, that we take a harder look where it applies to critical infrastructure, critical data, critical minerals. I think that’s understood. It’s certainly been clearly communicated by our government. But if there’s more information and more clarity that we can provide, I was able to convey to Chairman Zheng yesterday afternoon that we’re happy to try and provide that.

    We approve overwhelmingly the vast majority of proposals which come to us when it comes to foreign investment. Rejecting proposals is a very rare thing, and it isn’t just from one country. We run a genuinely non‑discriminatory Foreign Investment Review Board process. It is rightly robust. We want it to be robust, but we also want it to be clear and transparent, and if we can do more on that front, we will.

    JOURNALIST:

    Treasurer, you’re flying back into a really big storm over negative gearing. Did you ask Treasury to model reforms, and when will we get a definitive answer from the government about whether you will take a new policy to the election on negative gearing?

    CHALMERS:

    First of all, I hope I’m flying back into another Brisbane Lions premiership, but I’ll also be flying back into the opportunity to do a couple of things when I’m back.

    I’ll be releasing the Final Budget Outcome on Monday with Katy Gallagher, which will show a bigger second surplus than forecast in the Budget in May. There’ll be a number of opportunities to talk about this and these engagements here as well.

    When it comes to negative gearing changes, it is not unusual at all for governments or for treasurers to get advice on contentious issues which are in the public domain, including in the parliament. It is not unusual for treasurers to do that, but we have made it very clear through the course of this week that we have a broad and ambitious housing policy already and those changes aren’t part of it.

    JOURNALIST:

    So you’ll rule out any changes to negative gearing before the next election and during the next term?

    CHALMERS:

    We’ve made it really clear through the course of the week that our priority and our focus is on rolling out $32 billion worth of investment, because our highest priority and our biggest focus is supply. Whether it’s in Brisbane on Wednesday where I took a number of questions about this or throughout the course of the week when the Prime Minister was able to take a whole bunch of questions on this as well, we’ve made it clear. Our policy is to boost supply. Our policy is to invest $32 billion in that effort and these changes which we get advice on from time to time because they’re in the public domain or they’re in the Parliament, they’re not part of our policy.

    JOURNALIST:

    Is the Australian economy at risk of shrinking if Trump is elected in the US, given he’s flagged up to 60 per cent tariffs on all imports and overruling the Federal Reserve on interest rates [inaudible]?

    CHALMERS:

    As you’d appreciate, we don’t comment on the domestic political debate, especially from another country and especially in the most intense part of an American election campaign.

    We have shown a willingness and an ability across Australian Governments of both political persuasions to work with whoever the Americans choose as their President and the people that they elect to their representative bodies. We play the cards that we’re dealt when it comes to decisions taken appropriately by the American people.

    I share President Biden’s view that nobody has anything to gain from a trade war between the US and China. The policies being proposed by either side of politics in the US are a matter for them. Broadly and in principle I hold President Biden’s view – nobody has anything to gain from a trade war between this country and the US, least of all Australia.

    JOURNALIST:

    How much did the US election come up in your discussions yesterday?

    CHALMERS:

    I don’t think it came up at all. It may have come up informally, but I don’t believe so.

    Thanks very much.

    MIL OSI News –

  • MIL-OSI Russia: Marat Khusnullin opened a bank office and a monument to construction workers and restorers in the DPR

    MILES AXLE Translation. Region: Russian Federation –

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

    Deputy Prime Minister Marat Khusnullin made a working visit to the Donetsk People’s Republic, where he took part in the opening of a bank office, a monument, and held a meeting on the socio-economic development of the region.

    “The financial system is the foundation without which new regions will not be able to develop at a sufficient pace. After the opening of the updated PSB office, we held a meeting on this topic. We discussed, among other things, growth points for mortgages and lending to enterprises participating in the SEZ,” the Deputy Prime Minister said.

    He added that this PSB office is one of more than 20 branches of the bank in Mariupol. It works for both individuals and legal entities. The bank has a mortgage center, as well as several ATM zones, including with 24/7 access.

    In addition, the Deputy Prime Minister opened a monument to the builders and restorers. On each side of the memorial are bronze bas-reliefs of the restored objects – the School of Arts, the Intensive Care Hospital, the Priazovsky State Technical University and images of the builders at work.

    “It was largely thanks to them that life in the new regions was revived. So this monument is a kind of ‘thank you’ to the 35 thousand builders from all over the country involved in the restoration work in the new regions,” said Marat Khusnullin.

    Concluding his working visit, the Deputy Prime Minister saw how the Central School of Arts had been restored and discussed the program for the socio-economic development of the DPR.

    “Our task is to draw it up for three and six years so that it will lead to the achievement of the goals set by the President as much as possible. We need to define the strategy and priorities now. The key ones are housing, roads, social and economic blocks, launching production,” Marat Khusnullin noted.

     

     

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

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

    http://government.ru/nevs/52813/

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

    MIL OSI Russia News –

  • MIL-OSI Russia: A ceremonial meeting of the Supervisory and Academic Councils of NSU was held, dedicated to the 65th anniversary of the university

    MILES AXLE Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    Yesterday, a ceremonial meeting of the Supervisory and Academic Councils of NSU was held at NSU, dedicated to the 65th anniversary of the university. At the beginning of the meeting, the Rector of NSU, Academician of the Russian Academy of Sciences Mikhail Fedoruk, made a report “Honor the past, live in the present, create the future.” He told about the history of the university, specifically focused on the principles on which the university was founded, emphasized that NSU was a development of the MIPT model, but at the same time it became a university of a new type.

    From the very beginning, Novosibirsk State University was conceived as a university for training scientific personnel for the Siberian Branch of the Academy of Sciences. Scientists from the institutes of the Siberian Branch of the Russian Academy of Sciences taught here, and students began working in laboratories and participating in scientific research early on. An individual approach to learning, involvement in real projects and research from the first years – these principles underlie the educational model of the university at the present time. Now high-tech companies and industrial partners have been added to the research institutes, with which NSU is actively building interaction. The university is developing its own scientific and technological agenda, working in such advanced areas as artificial intelligence, space instrumentation, medical technologies, new functional materials, etc.

    Over 65 years, the university has grown by an order of magnitude in terms of the number of students: from 1,966 in 1962 to 8,700 in 2024. The number of teachers has also increased significantly – from 203 in 1962 to 2,800 in 2024. Over 65 years, NSU has graduated more than 56,000 students.

    NSU maintains its leading positions in national and international rankings. Now the university acts as a center of attraction and a driver of development not only for Akademgorodok, but also for the Novosibirsk Region. NSU participates in all key federal development programs, such as “Priority 2030”, “Creation of a Network of Modern Campuses”, Advanced Engineering Schools, etc. The Research Center in the Field of Artificial Intelligence, the Mathematical Center in Akademgorodok, and the NTI Center for New Functional Materials operate on the basis of NSU.

    Governor of the Novosibirsk Region Andrey Travnikov, congratulating NSU, noted:

    — I would like to thank all previous generations of students, graduates, teachers, and staff for the foundation and authority that was created over the previous years. The University in Akademgorodok is well-known, celebrated, and attracts people. I would like to thank the current composition of the entire university community for developing this potential, for the fact that in the changed 21st century the university found itself, developed a new line, a new format, a new strategy, without losing the main essence for which it was created 65 years ago. We can say that history has made a turn, and today the university is again approaching the Phystech model, responding to the demand not only of academic institutes, but also of technology corporations, innovative enterprises, and trains specialists, both researchers and engineers, and innovative entrepreneurs. I wish the university to confidently move along the chosen path, to grow and develop, preserving its traditions and foundation.

    During the ceremonial meeting, honored representatives of the university’s faculty were presented with certificates of honor, letters of gratitude and letters of thanks from the Governor of the Novosibirsk Region, the Novosibirsk City Hall, the Ministry of Science and Higher Education of the Russian Federation, the Ministry of Science and Innovation Policy of the Novosibirsk Region and the administration of the Sovetsky District of Novosibirsk.

    Awards of the Governor of Novosibirsk Region:

    Honorary Diploma of the Governor of Novosibirsk Region:

    Svetlana Dmitrievna Myzina, professor of the Department of Molecular Biology and Biotechnology Faculty of Natural Sciences of NSU.

    Tatyana Yuryevna Cherkashina, Head of the Department of General Sociology Faculty of Economics, NSU.

    Gratitude from the Governor of Novosibirsk Region:

    Lev Borisovich Vertheim, Associate Professor of the Department of Geometry and Topology Faculty of Mechanics and Mathematics of NSU.

    Letter of thanks from the Governor of Novosibirsk Region:

    Panteleeva Elena Valerievna, Associate Professor of the Department of Organic Chemistry, Faculty of Natural Sciences, NSU.

    Awards of the Novosibirsk City Hall:

    Certificate of honor from the Novosibirsk City Hall:

    Emelianov Vyacheslav Alekseevich, Associate Professor of the Department of General Chemistry, Faculty of Natural Sciences, NSU.

    Zhivtsova Natalia Petrovna, Director of Organizational Development and Human Resources Management at NSU.

    Kiseleva Oksana Vladimirovna, Associate Professor of the Department of Personality Psychology Faculty of Medicine and Psychology V. Zelman NSU.

    Korovnikova Irina Kimovna, Head of the Laboratory of Organic Chemistry, Faculty of Natural Sciences, NSU.

    Lyakina Yana Sergeevna, senior lecturer of the Department of Clinical Psychology of the Faculty of Medicine and Psychology V. Zelman NSU.

    Mitko Oleg Andreevich, senior researcher at the Laboratory of Humanitarian Research at NSU.

    Nikolaev Konstantin Yuryevich, professor of the Department of Internal Medicine, Faculty of Medicine and Psychology V. Zelman NSU.

    Fedin Vladimir Petrovich, Head of the Department of Inorganic Chemistry, Faculty of Natural Sciences, NSU.

    Tsyplakov Dmitry Anatolyevich, Associate Professor of the Department of Philosophy Institute of Philosophy and Law of NSU.

    Chugunova Alesya Leonidovna, specialist in educational and methodological work, 1st category, educational and methodological department Faculty of Geology and Geophysics of NSU.

    Awards of the Ministry of Science and Higher Education of the Russian Federation:

    Medal “For Impeccable Work and Distinction”:

    Kostenko Tatyana Vladimirovna, Head of the Administrative and Economic Department of the Geological and Geophysical Faculty of NSU.

    Honorary title “Honorary Worker of the Russian Federation Education”:

    Bugaeva Svetlana Gennadievna, Associate Professor of the Department of Higher Mathematics Physics Department of NSU.

    Gusachenko Anna Mikhailovna, Associate Professor of the Department of Cytology and Genetics of the Faculty of Natural Sciences of NSU.

    Serbo Valery Georgievich, professor of the Department of Theoretical Physics, Faculty of Physics, NSU.

    Mandrik Tatyana Ivanovna, leading engineer of the physiology laboratory of the Department of Physiology of the Faculty of Natural Sciences of NSU.

    Awards of the Ministry of Science and Innovation Policy of the Novosibirsk Region The Minister of Science and Innovation Policy of the Novosibirsk Region is invited.

    Honorary Diploma of the Ministry of Science and Innovation Policy of the Novosibirsk Region:

    Nesterenko Tatyana Viktorovna, Senior Lecturer, Department of Informatics Systems Faculty of Information Technology NSU.

    Timofeeva Maria Kirillovna, professor of the Department of Fundamental and Applied Linguistics Humanitarian Institute of NSU.

    Tsybulya Sergey Vasilievich, Head of the Department of Physical Methods for Solid State Research, Faculty of Physics, NSU.

    Gratitude from the Ministry of Science and Innovation Policy of the Novosibirsk Region:

    Igolnikov Alexander Evgenievich, Associate Professor of the Department of Historical Geology and Paleontology of the Geological and Geophysical Faculty of NSU.

    Awards of the administration of the Soviet district of Novosibirsk:

    Honorary Diploma of the Administration of the Soviet District of Novosibirsk:

    Demakov Pavel Andreevich, assistant of the Department of General Chemistry of the Faculty of Natural Sciences of NSU.

    Ilyin Maxim Anatolyevich, Head of the Department of General Chemistry, Faculty of Natural Sciences, NSU.

    Kostin Gennady Aleksandrovich, Head of the Department of Analytical Chemistry, Faculty of Natural Sciences, NSU.

    Krasilova Elena Aleksandrovna, Head of the Department of Youth Policy and Educational Work at NSU.

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

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

    http://vvv.nsu.ru/n/media/nevs/education/a ceremonial-meeting of the-supervisory-and-scientific-councils-of-NSU-dedicated-to-the-65th anniversary/

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Governor Olli Rehn: Old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis

    Source: Bank of Finland

    Olli Rehn, First Vice-Chair of the European Systemic Risk Board
    Keynote speech at the 8th ESRB annual conference ‘New Frontiers in Macroprudential Policy’, Frankfurt, 27 September 2024

    Old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis

    Ladies and Gentlemen, Dear Friends,

    Good morning everyone!

    May I also welcome you all and thank the secretariat for putting together an impressive programme for this ESRB flagship event.

    Today, I would like to reflect on the role of the ESRB and its mandate regarding financial stability and macroprudential policy in the EU.

    Slide 2: The ESRB’s track record & new frontiers

    I will discuss three interlinked issues. Firstly, the ESRB at 15, an adolescent, with a solid record. Secondly, key starting points for the forthcoming ESRB review. And thirdly, new frontiers, especially dealing with non-banks and better use of data and analysis.

    Let’s look at where we have come from. Since the global financial crisis, major efforts have been made to ensure financial stability in the EU and globally through better regulation and supervision. I think it is indeed fair to say that financial stability has risen forcefully up the agenda of central banks, not least as it provides essential support for the central banks’ primary goal of price stability.

    In recent years, financial systems and financial stability measures have been subject to real-life stress tests, with the global economy being hit by a series of major shocks over just a short period of time. Primarily, that is, the COVID-19 pandemic, Russia’s illegal, brutal war in Ukraine, the surge in inflation and the sharp rise in interest rates.

    In my view, the financial systems in the EU and elsewhere have withstood these shocks rather well. The Basel Committee on Banking Supervision points out that the strong resilience has been largely thanks to the tightened capital and liquidity requirements for banks.

    Slide 3: Sturdy capital buffers provide banking resilience

    True, the capital ratios of European banks have roughly doubled since the global financial crisis. The increased capital buffers have been – and will continue to be – necessary in the current operating environment, which is filled with geopolitical and other uncertainties.

    I would add that the active use of macroprudential policy has further supported the resilience of the financial system in Europe.

    As part of its mandate, the ESRB assesses systemic risks in the EU, and, where appropriate, issues warnings and recommendations.

    Slide 4: Key risks for EU financial stability

    In our recent systemic risk assessment, we conclude that while disinflation in the EU is on track, financial stability risks remain elevated amid heightened geopolitical risks and the still fragile recovery of the EU economy. In the latest ECB projection, growth outlook was revised down, and the risks to the growth outlook are tilted to the downside.

    In particular, we have to be aware of both the direct and indirect impacts of current geopolitical risks on the EU financial system. Geopolitical events may directly impact financial markets by increasing volatility, affecting capital flows, exchange rates, and credit spreads. Indirectly, they can disrupt global trade and increase commodity prices, challenging households and businesses in the EU.

    In the financial markets, the risk appetite has been unusually strong, especially in the context of high macro-financial uncertainty. The abrupt, albeit short-lived, market correction in early August showed how sensitive this can be. If repeated, the vulnerabilities in the non-bank sector could amplify adverse market dynamics.

    Moreover, vulnerabilities in the banking sector could resurface, especially if the first two risks were to materialise. This would increase credit risks and tighten funding conditions at the same time.

    In any case, it continues to be essential to maintain the resilience of the EU financial system. Ensuring adequate resilience and effective but flexible regulation is one building block in promoting European competitiveness, along the lines of the recent report by Mario Draghi. As part of the efforts for more investment and higher productivity, it is crucial to advance the savings and investment union – or the ex-capital market union – and to complete the banking union.

    Slide 5: ESRB’s members reflect on its future – ATC survey

    Fifteen years ago, the global financial crisis revealed weaknesses in EU banking supervision. It was clear that major changes to financial supervision were necessary to help prevent and mitigate future crises.

    Thus, Commission President José Manuel Barroso set up an independent High Level Group on Financial Supervision in the EU to make recommendations on strengthening European supervisory arrangements, covering all financial sectors.

    The High Level Group, chaired by Jacques de Larosière, was given a very broad mandate and very little time. In only three months, the Group delivered an important and insightful report. It provided the basis not only for establishing the ESRB but the whole European System of Financial Supervision, including the European Supervisory Authorities.

    One of the key conclusions of the report was that regulators and supervisors had not sufficiently focused on “the macro-systemic risks of a contagion of correlated horizontal shocks”. As a policy response, de Larosière proposed establishing the ESRB (or the European Systemic Risk Council as he then called it).

    As a member of the European Commission at that time, I had the privilege of being present at the ESRB’s creation, specifically by preparing with my team the legislative proposals for setting up the ESRB, while my dear colleague Michel Barnier introduced the legislation for the European System of Financial Supervision. The legislative process was swift. The General Board of the ESRB held its inaugural meeting in the Eurotower in January 2011.

    Given the constantly evolving environment, it is necessary to review the mandate and workings of the ESRB from time to time. The Commission is now tasked – for the second time – with reporting to the European Parliament and to the Council on the review of the ESRB.

    While the ESRB will not take a formal position on its founding regulation, it believes it is important that the legislator has the opportunity to benefit from the experience of those who have been deeply involved in the work of the ESRB. For this purpose, the ESRB has set up a High Level Group to (i) identify which adjustments to the mission or framework of the ESRB might be required and to (ii) provide its insights to the EU co-legislators before the review process. I have the honour of chairing the Group.

    Let me give you an interim snapshot of the key issues in the review.

    First, as part of the High Level Group’s work we have been seeking feedback more broadly from the ESRB membership by way of a survey among the members of the Advisory Technical Committee on how the ESRB has succeeded in its core tasks over the years. We have also sought to explore whether the current operating model of the ESRB is fit for purpose and how the ESRB and its tasks should be renewed and developed as the financial system evolves.

    The feedback received from the members of the ATC has been most valuable. It indicates that the current model and mandate of the ESRB do not need a complete overhaul but rather some targeted adjustment.

    The work done by the ESRB over the years is considered especially valuable with regard to the definition of macroprudential policies and the development of a comprehensive framework for macroprudential policies in Europe, particularly in the banking sector.

    And this work has had a significant impact: the ESRB, through its determined efforts, has helped to pre-emptively identify and mitigate the build-up of systemic risks in Europe.

    Going forward, the ESRB could, in my view, play an even stronger role in the holistic analysis of systemic risks within the EU. The ESRB has a unique ability to examine cross-sectoral, cross-border and interlinked risks – and the truly systemic dimension of these risks.

    The ESRB is also in an excellent position to work with academia and international organisations. A particular advantage for the ESRB is that the European Supervisory Authorities (the EBA, ESMA and EIOPA) participate in our work and provide their own perspectives. It is crucial that their expertise will continue to support the work of the ESRB.

    Leading on from this, I would like to call for deeper collaboration at the EU level on country risk analysis. Given the macroprudential mandate of the ESRB, there is scope for capitalizing on the ESRB’s analytical work in the EU’s Macroeconomic Imbalance Procedure.

    In particular, the ESRB has been developing the concept of macroprudential policy stance to analyse the way in which national authorities are using macroprudential tools to mitigate the systemic risks to which their financial sector is exposed. A deepening of EU collaboration in this field would contribute to strengthening economic stability in a particular Member State and/or the EU in its entirety.

    The feedback we received also highlighted that, in its systemic risk assessment, the ESRB should be able to incorporate a range of new emerging risks and vulnerabilities. Several members underlined the need to better understand systemic risks related to the non-bank financial institutions (NBFIs). Other increasingly relevant risks include climate change, AI and cybersecurity.

    The ESRB has already engaged in risk monitoring and analysis of the non-bank sector and has identified many structural vulnerabilities that require our attention. But more work is needed to better understand the systemic risks of the non-bank sector in the same depth as those for the banks. This is important not only for financial stability, but also for ensuring a solid basis for the saving and investment union.

    Let me underline the critical importance of data – access to data, better use of data – in the analysis of non-banks. To understand the systemic risks related to NBFIs, we simply need better data to be able to identify and map the vulnerabilities and interconnections. Only once that’s done, we will be able to capitalize on more advanced methods, such as system wide stress-testing, to locate the vulnerabilities in the system.

    Our future challenges include not only the complexity of the evolving financial system, but also the increased speed of its operations. Due to digitalisation, financial operations are becoming ever faster. It will be even more important that the ESRB is able to perform risk analysis and policy evaluations in a timely manner.

    Dear Friends,

    Slide 6: Three priorities in the way we work

    Before concluding, I’d like to highlight three priorities for the way we work in the coming years that I find critical for the ESRB. We should:

    1. Enhance our analytical capacity by making better use of data and research.
    2. Bring into use new analysis methods and technologies.
    3. Focus on our core activities.

    Let me just elaborate on these a little more.

    Slide 7: Analysis based on data and research – a key priority

    1. Active development of data analytics and research-driven analysis is nothing new at the ESRB as such.

    But I firmly believe that the importance of analysis which is based on data and research cannot be overemphasized in our times, where disinformation is being used as a weapon. In today’s world, there is a great risk that genuine information will be crowded out.

    Data is the gold or oil of our digital world today – it is a valuable resource and a necessary basis for high-level analysis. Following the global financial crisis, the reporting requirements for financial operators were increased. Financial supervisors and central banks consequently also have a duty to use the new data effectively and efficiently.

    The challenge for the ESRB is that not all relevant data are readily available to it. The rules governing the ESRB’s access to data can be broadly divided into two types:

    • ex ante access, whereby the ESRB has access to data on a regular, ongoing basis, as soon as it is reported. We already benefit from quite a few datasets under this framework, which is well aligned with our mandate and tasks.
    • ex post access, through ad hoc requests, which take time to process. For some important datasets we have only ex post access. This includes granular datasets collected by the ESAs.

    While cooperation regarding data sharing between the ESAs and the ESRB has been excellent, the ex post framework has inherent limitations that hamper the ESRB’s ability to continuously monitor and mitigate risks to financial stability.

    For this reason, the ESRB sent a letter last month to European co-legislators, urging them to broaden the ESRB’s access to information from supervisors, so that the data can be shared with the ESRB by default.

    This is extremely important for the ESRB to be able to effectively fulfil its mandate in assessing the systemic risks and to promptly react in instances of projected instability.

    As the volume of data increases, we must also invest in new high-level analysis methods. Modern methods of risk assessment make use of advanced tools and technologies, such as AI and machine learning, which enable better forecasting and analysis. With these technologies, it is possible to process large amounts of data.

    Finally, to focus on our core activities has been rightly underlined both by the other High Level Group members and in the ESRB member feedback. We should, in my view too, focus on our core activities even in the midst of various crises. We cannot be experts in everything, and nor do we need to be. The added value that we bring as an organisation should focus on the area where we are the best experts: systemic level risk analysis of the financial system.

    Our added value should always come from a deep understanding of vulnerabilities and interconnections in the financial system and of the various factors that get amplified when shocks hit the system.

    Dear Friends,

    Let me now conclude.

    In the grand scheme of things, financial stability fundamentally depends on the geopolitical and macroeconomic context. The best service for EU financial stability now is to maintain European unity and firmly support Ukraine in the face of Russia’s threat.

    Furthermore, it is crucial to strengthen the structural foundations of the European economy, by focusing policy actions on productivity growth and industrial competitiveness, while retaining the European model of social inclusion.

    On its part, the European Systemic Risk Board, together with the ESAs, the SSM, the FSAs and the central banks, continues to play a strong role in safeguarding the stability of the EU financial system. Our work will focus on the evolving systemic risk and will be based on comprehensive data and research, high-quality analysis and wide-ranging cooperation between different authorities.

    I look forward to continuing to work with you towards this immensely important goal of maintaining financial stability in Europe.

    Thank you for your kind attention!

    Presentation (PDF)

    Olli Rehn ESRB financial stability speech

    MIL OSI Economics –

  • MIL-OSI China: PBOC to Cut Required Reserve Ratio

    Source: Peoples Bank of China

    Adhering to its accommodative monetary policy stance, the People’s Bank of China (PBOC) is set to intensify monetary policy adjustments with higher precision, so as to foster a favorable monetary and financial environment for the stable growth and high-quality development of the Chinese economy. The PBOC decides to cut the required reserve ratio (RRR) for financial institutions by 0.5 percentage points (excluding those that are already subject to an RRR of 5 percent), which will be effective from September 27, 2024. The weighted average RRR for financial institutions will be about 6.6 percent after the cut.

    Date of last update Nov. 29 2018

    2024年09月27日

    MIL OSI China News –

  • MIL-OSI China: China innovates carbon footprint assessment

    Source: China State Council Information Office 2

    Chinese scientists have developed a carbon footprint assessment system which spatializes a carbon footprint by integrating a geographic information system (GIS) into a full life cycle assessment (LCA). This comes as the country has advanced efforts to establish a carbon footprint management program that is both tailored to national conditions and aligned with international standards.

    Software for the GIS-LCA system was released at a seminar focusing on the construction of a carbon footprint management system. The seminar was held in Beijing on Sept. 26, 2024. [Photo courtesy of the Qingdao Institute of Bioenergy and Bioprocess Technology of the Chinese Academy of Sciences]
    Software for this GIS-LCA system was released Thursday at a seminar in Beijing that gathered representatives from relevant government departments, academia, companies and industrial associations.
    During his speech at the seminar, Xie Kechang, academician and former vice president of the Chinese Academy of Engineering, expressed how current international standards do not account for variations in carbon footprints of products that are the same but produced in different locations. He went on to add that this limitation does not suit China’s national conditions well. Xie offered guidance to the team who developed this new carbon footprint assessment system.
    Tian Yajun, chief scientist of the Qingdao Institute of Bioenergy and Bioprocess Technology at the Chinese Academy of Sciences (CAS) and leader of the team who developed this new system, also emphasized the significance of accuracy in carbon footprint calculation, stating that “an accurate and reliable carbon footprint is one of the important foundations for promoting the green and low-carbon transformation of the economy and society.”

    Tian Yajun, chief scientist of the Qingdao Institute of Bioenergy and Bioprocess Technology at the Chinese Academy of Sciences (CAS) and leader of the team developing the GIS-LCA system, spoke during the seminar held in Beijing on Sept. 26, 2024. [Photo courtesy of the Qingdao Institute of Bioenergy and Bioprocess Technology at the CAS]
    Both academics highlighted that the integration of GIS with LCA addresses this limitation and enhances assessment accuracy.
    According to Tian, also head of the Extended Energy Big Data and Strategy Research Center at the Qingdao Institute of Bioenergy and Bioprocess Technology at the CAS, this carbon footprint assessment system, built on a decade’s worth of accumulated big data, can model real-world scenarios, planning the actual paths of carbon footprints while supporting visualization in the form of flow charts.
    He added that this system can be applied in a wide variety of contexts and by a diverse array of institutions, including products, services, supply chains, companies, industrial parks, industries and governments.
    With this GIS-LCA system, Yueqing city in Zhejiang province has developed China’s first carbon footprint calculation model for local industrial clusters. It has also created a carbon footprint roadmap for electrical product supply chains. On this basis, the model has identified key points and provided plans for carbon reduction.
    In addition, the city has developed the country’s first spatialized, high-resolution background dataset for the electrical industry, as well as has established a public carbon footprint service platform that integrates products, supply chains, industries, businesses, certification bodies and the government.
    “The technology that integrates geographic information with carbon footprint assessment provides an open exploration for establishing the country’s carbon footprint management system, and a good start for us to promote a science-based, standardized and internationally recognized carbon footprint management,” said Xia Yingxian, director general for the Department of Climate Change of the Ministry of Ecology and Environment (MEE).
    According to an action plan released in June by the MEE in collaboration with 14 other government departments, China aims to preliminarily establish a carbon footprint management program with national guidelines for calculating product carbon footprints as well as calculation rules and standards for approximately 100 key products by 2027, with the intent to expand this system to include calculation rules and standards for approximately 200 key products by 2030.
    The national guidelines GB/T24067-2024, titled Greenhouse gases—Carbon footprint of products—Requirements and guidelines for qualifications, are scheduled to take effect on Oct. 1.
    Looking ahead, Tian said that he and his team look forward to developing their GIS-LCA system into an important component of China’s carbon footprint management program, and even part of international rules.
    Xia said that the MEE will collaborate with other government departments to motivate stakeholders across society to step up scientific theoretical research; establish calculation standards through pilot efforts in key regions, industries and companies; encourage collaboration in developing a national emission factor database of product carbon footprints; create diverse application scenarios; and advance international and mutual recognition of the standards.

    MIL OSI China News –

  • MIL-OSI Russia: Polytechnic University took part in the large-scale forum “Microelectronics 2024”

    MILES AXLE Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The forum “Microelectronics” was held for the tenth time on the federal territory “Sirius”. A key information event in the world of electronic technologies. During its existence, this platform has become one of the most important events of the professional community, thanks to business and scientific programs. The plenary session of the forum was attended by the director of the Institute of Computer Science and Cybersecurity of SPbPU Dmitry Zegzhda.

    Welcoming the forum participants, Russian President Vladimir Putin noted: The electronics industry is one of the key, strategic sectors of the modern economy. The defense capability and security of our country, its industrial and scientific potential, the state of infrastructure, the financial sector, and the quality of life of citizens largely depend on its development.

    At the plenary session dedicated to trusted software and hardware complexes and ECB for critical information infrastructure facilities, information security issues were also discussed. The report “Promising methods of research and assessment of cyber resilience of trusted hardware and software systems for critical information infrastructure facilities” was presented by the director of the SPbPU ISC Dmitry Zegzhda.

    Dmitry Petrovich outlined the paradigm according to which, in his opinion, cyber-resilience of microelectronics should develop: The requirements of trust [there] are more stringent than the requirements of reliability; microelectronics should not only function without failures and be resistant to cyber-influences, but, most importantly, its reaction to external signals should be predictable.

    The key goal of the Microelectronics forum is a comprehensive solution to current issues of development, production and application of domestic electronic component base and highly integrated electronic modules, as well as promoting the development of domestic microelectronics.

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

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

    https://vvv.spbstu.ru/media/nevs/science_and_innovations/polytech-became-participant-of-the-large-scale-forum-microelectronics-2024/

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

    MIL OSI Russia News –

  • MIL-Evening Report: Shigeru Ishiba will be Japan’s next prime minister. What should we expect?

    Source: The Conversation (Au and NZ) – By Sebastian Maslow, Associate professor, University of Tokyo

    In a vote to replace Fumio Kishia as head of Japan’s ruling Liberal Democratic Party (LDP), party members have elected Shigeru Ishiba as their new leader. Given the LDP’s majority in parliament, the party leader will become prime minister by default.

    Ishiba, aged 67, joined the parliament in 1986 and held key cabinet posts throughout his career, including director of then Defence Agency (now Ministry of Defence).

    Amid growing public opposition to the LDP, in 1993 he left the party, only to return four years later. The move cost him the trust of many of his LDP colleagues, many of whom still consider him a traitor.

    Ishiba has run five times for the LDP’s top position and frequently opposed former prime minister Shinzo Abe’s policies. Though unpopular among the LDP’s top members, Ishiba has nourished broad support among the LDP’s base. In today’s race, he won over Sanae Takaichi, a close ally of Abe and the face of the LDP’s revisionist brand of conservatism.

    Ishiba, who has his constituency in rural Tottori, has pledged to revitalise economic growth through supporting local regions. A defence expert, he is an outspoken advocate of stronger security relations with the United States and a more robust military.

    What does this tell us about Japanese politics?

    The election was one of the most contentious in recent political history and came after Kishida announced he would not seek re-election as LDP leader when his three-year term ends this month.

    Kishida’s tenure as prime minister has been marred by political scandals, leading to a sharp decline in public support for the cabinet.

    In particular, the revelation of the LDP’s links to the Unification Church following the assassination of Abe in 2022 and recent reports of LDP slush funds have undermined voter confidence in the party.

    In an effort to restore public confidence, Kishida promoted the dissolution of the LDP’s factions, which had served as the party’s main internal mechanisms for mobilising support and financial resources and allocating government portfolios since its founding in 1955.

    At the same time, the factions were seen as the main source of the LDP’s scandals.

    In a logic of “numbers are power”, the factions mobilised internal support for either their own leader or the faction’s ally to become prime minister.

    By challenging the LDP’s old power structures, Kishida’s re-election prospects diminished. However, with the disappearance of most of the LDP’s factions, internal power politics has become competitive.

    As a result, an unprecedented nine candidates vied for the party’s leadership.

    Will politics change much?

    The LDP’s constitution stipulates that in the first round of voting, the votes of each of the 368 members of parliament are added to the 368 votes allocated proportionally to rank-and-file members.

    The top two candidates then go through to a second round, where the 368 National Diet members cast their votes, while each of the 47 prefectural branches gets one vote.

    This means candidates who are popular with the LDP’s base have a good chance of surviving the first round, while only those who are popular with the party’s Diet members will ultimately win the race.

    The exception to this pattern is when the party’s national elite is so unpopular that its Diet members make a strategic move to support a locally popular candidate in an appeal to the public to reform the LDP and thus avoid punishment at the polls.

    This was the case when Junichiro Koizumi was elected LDP leader in 2001 after campaigning against his own party, which was embroiled in a series of scandals, while securing the support of the grassroots.

    With a runoff between the top two contenders seen as the most likely scenario early on, the candidates have been courting the support of the LDP’s old guard and faction leaders, hoping for their influence in mobilising the votes of LDP Diet members.

    Ishiba has remained highly unpopular among LDP Diet members. LDP Vice-President Taro Aso and others have pledged to support his rival Sanae Takaichi.

    Takakichi herself has promised not to further investigate the party’s slush funds or to punish members linked to them. While Ishiba has been critical of the LDP’s initial response, he has remained silent on the issue during his campaign in order to avoid further alienating the party’s Diet members.

    The LDP’s internal politics have come under intense public scrutiny. With the LDP’s internal power structures destabilised, fears of a return to revolving-door governments have resurfaced. The party operates in crisis mode.

    Selecting Ishiba has increased its chances to compete in the next general election and thus keep the LDP in power. How Ishiba can secure enough support from within the LDP to implement his policies while responding to the public’s expectations to hold the party accountable for its past scandals, however, remains to been.

    If he fails to deliver on the latter, his tenure may be short-lived too.

    What happens now?

    The Diet will convene on Tuesday and LDP members will elect Ishiba as the new prime minister, who will then announce her new cabinet and LDP leadership.

    If the past serves as lesson, Ishiba will dissolve the lower house soon after the supplementary budget is passed. This would set Japan on track for general elections later this year.

    Faced with a fragmented opposition, it remains to be seen whether his policies alone will be enough to secure public support. A critique of “Abenomics” (Shinzo Abe’s economic approach), Ishiba is considered being in favour of fiscal discipline.

    Meanwhile, he has also called for more public works spending to reduce Japan’s growing inequality while revitalising the depopulated regions.

    Ishiba has also been critical about Kishida’s return to nuclear power, calling for more investment in regenerative energy.

    In addition, he has expressed support for legalising same-sex marriage and separate surnames – though broadly supported by the public, both issues are controversial among the LDP’s conservative base.

    Promoting a more active and equal role of Japan in its alliance with the US, Ishiba most recently advocated for expanding security cooperation to an Asian version of NATO. Moreover, he has called for more diplomatic efforts to engage China and Russia instead of relying on military pressure.

    At the same time he has repeatedly called for a robust military posture to counter China’s rise and North Korea’s military actions.

    What Ishiba means for relations with South Korea – a key legacy of Kishida – or for handling a potential Donald Trump White House, however, remains to be seen. His pledge for a more active Japan certainly resonates well with Trump.

    What is clear is that the LDP, operating in crisis mode, has voted for a leader who is willing to change the party and to restore the public’s trust in government.

    Sebastian Maslow 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. Shigeru Ishiba will be Japan’s next prime minister. What should we expect? – https://theconversation.com/shigeru-ishiba-will-be-japans-next-prime-minister-what-should-we-expect-239314

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Treasury Markets Summit 2024 (with photos)

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

         The Treasury Markets Summit 2024, jointly organised by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA), was held today (September 27) in Hong Kong. 
          
         In his keynote address, the Chief Executive of the HKMA and Honorary President of the TMA Council, Mr Eddie Yue, discussed the policy initiatives in further strengthening Hong Kong’s position as the offshore renminbi business hub of the world; while Deputy Chief Executive of the HKMA and Chair of the TMA Executive Board, Mr Darryl Chan, highlighted the TMA’s key achievements in his opening remarks.
          
         The Summit’s panels covered three important topics, namely China economic outlook, Decentralised Finance (DeFi) and Metaverse, and Central Bank Digital Currency. The panels were moderated respectively by Deputy Head of RMB Business and General Manager of Global Markets of Bank of China (Hong Kong) Limited, Ms Annie Zhu; Professor of Practice (ESG, FinTech and Sustainable Finance) of School of Accounting and Finance at the Hong Kong Polytechnic University, Mr Lapman Lee, and the Chief Fintech Officer of the HKMA, Mr George Chou. They were joined by distinguished guest speakers from the financial industry and relevant sectors.
          
         The Summit was attended by over 300 local and overseas participants, including treasury market practitioners, asset managers, and senior executives and professionals from banks, financial institutions and corporates.      

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: Federated Farmers – Land use change to blame for meat works closure

    Source: Federated Farmers
    Alliance Group’s proposal to close its Timaru meatworks is a symptom of broader issues that will continue undermining the primary sector until fixed, Federated Farmers says.
    Alliance chief executive Willie Wiese has stated the proposed closure is due to a decline in sheep processing numbers as a result of land-use change, which has resulted in surplus capacity in the company’s plant network.
     “Firstly, we want to extend our sympathies to the 600 workers and their families affected by this sad news,” Federated Farmers meat and wool chairperson Toby Williams says.
    “The prospect of the 139-year-old Smithfield plant going, and the loss of such a major employer in Timaru, is a huge blow to South Canterbury and we’re really feeling for them.”
    Williams says while there are multiple macro-economic factors at play behind Alliance’s decision, wrong-headed and skewed policy settings are a key reason the sheep and beef sector is under such strain.
    “We’ve had a decade of policy that has favoured forestry over farming, incentivising planting radiata, particularly for carbon revenue.
    “On top of that, excessive red tape and layers of impractical and poorly consulted-on regulation have strangled farming confidence and investment.
    “This year’s stock count showed sheep numbers slumped by another million or so in the last year, to 23 million.
    “Federated Farmers has always highlighted that when poor regulations stifle farming, the impacts are felt throughout our rural communities and broader national economy.
    “This is sadly coming to play today, and it is the people of South Canterbury who will feel this the hardest.”
    The coalition Government is making progress winding back some of the previous administration’s freshwater and resource management regulations and planning directives.
    “The aim is to continue looking after the environment, but balancing that with ensuring the economic and social wellbeing of communities gets the same prominence.
    “For farmers, and for processors and the wider economy, that re-balancing can’t happen soon enough,” Williams says. 

    MIL OSI New Zealand News –

  • MIL-OSI: Middlefield Canadian Income PCC – Half-year report

    Source: GlobeNewswire (MIL-OSI)

    Middlefield Canadian Income PCC (the “Company”)
    Including Middlefield Canadian Income – GBP PC (the “Fund”), a cell of the Company
    Registered No: 93546
    Legal Entity Identifier: 2138007ENW3JEJXC8658

    HALF-YEARLY FINANCIAL REPORT

    The Company has today submitted its half-yearly financial report for the period ended 30 June 2024 (the “HYFR”) to the National Storage Mechanism and it will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    The HYFR is also available from the ‘Trust Documents’ section of the Company’s website:
    https://middlefield.com/funds/uk-funds/middlefield-canadian-income-trust/.

    Enquiries:

    Hilary Jones
    JTC Fund Solutions (Jersey) Limited
    Secretary
    Tel.: 01534 700 000

    Dean Orrico
    President
    Middlefield International Limited
    Tel.: 01203 7094016

    END OF ANNOUNCEMENT

    Attachment

    The MIL Network –

  • MIL-OSI Security: Assistant Attorney General Kristen Clarke Delivers Remarks Announcing the Justice Department Findings of Civil Rights Violations by the Lexington, Mississippi Police Department and City of Lexington

    Source: United States Attorneys General 7

    Remarks as Prepared for Delivery

    Good afternoon. My name is Kristen Clarke, Assistant Attorney General for the Civil Rights Division at the U.S. Justice Department. Joining me is Todd W. Gee, U.S. Attorney for the Southern District of Mississippi.

    We are here today to announce the findings from our pattern or practice investigation into the City of Lexington, Mississippi, and the Lexington Police Department.

    We find reasonable cause to believe that the Lexington Police Department and the City of Lexington engage in a pattern or practice of conduct that violates the First, Fourth and 14th Amendments of the Constitution, Safe Streets Act and Title VI of the Civil Rights Act of 1964.

    Specifically, we find that the Lexington police use excessive force; unlawfully stop, search and arrest people — including by jailing people on illegal “investigative holds” — unlawfully jail people without affording prompt access to court; violate the rights of people engaged in free speech and expression, including by retaliating against critics of the police; and unlawfully discriminate against Black people.

    The department also unlawfully arrests, jails and detains people based on their failure to pay money without assessing their ability to pay; unlawfully arrests people just because they owe outstanding fines; and imposes money bail without justification and, again, without assessing ability to pay. The fact that fines and fees fund the department drives its law enforcement, resulting in a crude policing-for-profit scheme. The Lexington Police Department operates under an unconstitutional financial conflict of interest.

    Lexington’s focus on revenue and its overly aggressive form of policing leaves the people of Lexington harassed, feeling helpless and hopeless. For example, on the day we opened our investigation, Lexington officers chased a man down and tased him until he foamed at the mouth. In the previous months, police officers had repeatedly arrested the man for minor offenses most police departments would have handled with a ticket. For stealing sugar packets from a gas station, the man spent 13 days in jail. He spent four days in jail for taking a second cup of coffee after paying for the first. Each time, the Lexington police kept him in jail because he could not afford to pay the fines or the $50 processing fee Lexington charges for every arrest. Especially for a person in poverty, these fines are no small thing. Even though he has no money, the man owes the Lexington Police Department over $7,500. At no point did the police or city assess his ability to pay those fines.

    In America, being poor is not a crime, but in Lexington, their practices punish people for poverty. On Feb. 29, we provided official notice to Lexington city officials and the police department about our concerns regarding illegal arrests and detentions that penalize people for lacking resources. Lexington has made some changes in response to our notice. But, as today’s findings show, more meaningful reform is necessary.

    Lexington’s fines and fees have been absolutely devastating for the people who live there. Although Lexington is in one of the poorest counties in America, people owe the police department $1.7 million in outstanding fines. The Lexington municipal court has issued bench warrants for over 650 people based on unpaid fines — equivalent to roughly half of Lexington’s population. Based on these warrants, police officers have unlawfully arrested and jailed people, using the leverage of incarceration to extract more money from them.

    Other times, the Lexington police send people to jail for days or weeks for minor offenses. These people wait in jail until they can go before a judge or they can get enough money together to pay their fines. This, too, violates people’s civil rights. For example, the Lexington police arrested a Black man for allegedly taking $15 worth of gas. The police told him his fine was $300. He couldn’t pay it. The police sent him to jail until the next scheduled court date — two weeks later.

    Unjustly enforcing fines and fees creates a two-tiered system of justice that can perpetuate a cycle of poverty. It also fuels a financial conflict of interest for the police department. The police must enforce the law even-handedly, not based on generating revenue. Lexington, though, focused its law enforcement on strategies that generated income, even at times linking officers’ paychecks to the number of arrests they made. Over the past two years, Lexington has made nearly one arrest for every four people in town — more than 10 times the per capita arrest rate for Mississippi.

    The Lexington police also illegally arrest people for using profanity, and they retaliate against people who film officers or criticize the police. The First Amendment protects swearing, yet the Lexington police broke down a man’s back door and arrested him for swearing in a public place. The First Amendment also protects the right to film or criticize officers. But when a man filmed officers approaching his suicidal brother with their guns raised, a police officer batted the man’s phone out of his hand, pushed him to the ground and arrested him.

    While making arrests, the Lexington police frequently use excessive force. We found instances in which officers used a taser like a cattle prod to punish people or to make them comply more quickly with officers’ orders. For example, officers used a taser to shock a Black man 18 times until he was covered in his own vomit and unable to speak or walk. Officers punch, hit or kick people who are unarmed and handcuffed. One officer kicked a Black man in the groin so hard that he wet himself. Another used his gun to repeatedly hit a Black man already in handcuffs. An officer knocked an elderly Black man unconscious. Nor are children spared from attack. An officer grabbed a Black child by the neck and shoved him into a patrol car, banging the child’s head against the door frame.

    Black people bear the brunt of the Lexington Police Department’s illegal conduct. Lexington’s former police chief, Sam Dobbins, who regularly spoke disrespectfully to Black men, set in motion the aggressive enforcement of low-level violations. Dobbins left the department when recordings of him using other racial slurs were released. Officials told us that with Dobbins gone, so too was the problem. We found, however, that the discriminatory practices he initiated continue unabated. Lexington officers frequently tase, punch and beat Black people without justification, while we identified no such use of force on white people. Low-level traffic violations that resulted in arrest for Black people yielded only warnings or citations for white people. The result? 98% of people arrested for traffic offenses are Black. This pattern of racial discrimination not only violates the law. It also erodes the community’s trust in law enforcement, the judicial system, and the government more broadly.

    According to the Bureau of Justice Statistics, half of America’s police departments have 10 officers or fewer. Every person in the United States enjoys certain fundamental civil rights, regardless of the size of their town, the contents of their bank account or the color of their skin. Residents of rural and underserved communities have the same rights and deserve the same protection as people who live major cities. The Justice Department is committed to providing that protection. Police misconduct in smaller communities may not always garner national attention, but rest assured, the Justice Department is watching. No city, no town, no law enforcement agency is too large or too small to evade our efforts to safeguard the constitutional rights that every American enjoys. Small and mid-sized police departments must not be allowed to violate people’s civil rights with impunity.

    To the people of Lexington, I want you to know that we heard you. We listened carefully to your testimonies. We thank you for having the courage to speak out.

    The Lexington Police Department and the City of Lexington have agreed to cooperate with the Justice Department to address the challenges we outline today. As we begin the hard, essential work of rebuilding trust and restoring equal justice under law, we need to continue to hear from the Lexington community in the coming days and weeks.

    We stand with the people of Lexington to extend justice to all its residents, rich and poor, regardless of their race.

    I’ll now welcome U.S. Attorney Todd Gee.

    MIL Security OSI –

  • MIL-OSI Security: Former Connecticut-Based Energy Trader Convicted of International Bribery Scheme

    Source: United States Attorneys General

    A federal jury in Bridgeport, Connecticut, convicted a former oil and gas trader today for his role in a nearly eight-year long scheme to bribe Brazilian government officials and to launder money to secure business for two Connecticut-based commodities trading companies.

    According to court documents and evidence presented at trial, Glenn Oztemel, 65, of Westport, Connecticut, paid bribes to officials of Petróleo Brasileiro S.A. (Petrobras), the Brazilian state-owned oil and gas company, to obtain lucrative contracts for Arcadia Fuels Ltd. (Arcadia) and Freepoint Commodities LLC (Freepoint).

    “Glenn Oztemel paid and laundered more than $1 million in bribes to employees of Brazil’s state-owned oil and gas company to obtain lucrative contracts for his commodities-trading companies in Connecticut,” said Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “Bribing public officials to win business undermines the rule of law and creates unfair competition. Today’s verdict reaffirms the Criminal Division’s commitment to combatting foreign corruption that violates U.S. law.”

    “Bribery and money laundering are well-established federal crimes,” said U.S. Attorney Vanessa Roberts Avery for the District of Connecticut. “This conviction serves as another warning to anyone involved in the financial industry who seeks to gain an unfair advantage and illegally profit, both here in the U.S. and abroad. This office and our law enforcement partners will continue to keep a watchful eye to ensure that representatives from U.S. businesses operating overseas comply with our nation’s laws.”

    “Individuals and companies who collude to thwart free market competition through bribery ultimately erode public trust in the marketplace,” said Assistant Director in Charge Akil Davis of the FBI Los Angeles Field Office. “Today’s conviction demonstrates the commitment of the FBI and our partners to investigate anti-competitive behavior and hold accountable those who try to cheat the system for their own benefit and profit.”

    The trial evidence showed that, between 2010 and 2018, Oztemel worked as a senior oil and gas trader — first at Arcadia and then at Freepoint. With the assistance of others, Oztemel paid and caused the payment of bribes to Petrobras officials for their assistance in helping Arcadia and Freepoint to obtain and retain fuel oil contracts with Petrobras and by providing Oztemel and others with confidential information regarding Petrobras’ fuel oil business. Oztemel and his co-conspirators caused Arcadia and Freepoint to make corrupt payments — disguised as purported consulting fees and commissions — to a third party intermediary and agent, Eduardo Innecco, 74, knowing that Innecco would pay a portion of those funds to Brazilian officials, including to Houston-based Petrobras trader Rodrigo Berkowitz.

    To conceal the scheme, Oztemel, Innecco, and their co-conspirators used coded language like “breakfast” and “freight deviation” to refer to the bribes and communicated using personal email accounts, encrypted messaging applications, disposable phones, and fictitious names like “Spencer Kazisnaf” and “Nikita Maksimov.” In total, Oztemel paid more than $1,000,000 in bribes, which were split between Berkowitz and other Petrobras officials in Brazil. The bribe money moved from the trading companies to shell companies around the world controlled by Innecco, who then made payments to a bank account in Uruguay controlled by Berkowitz’s father.

    The jury convicted Oztemel of conspiracy to violate the Foreign Corrupt Practices Act (FCPA), conspiracy to commit money laundering, three counts of violating the FCPA, and two counts of money laundering. He faces a maximum penalty of five years in prison on each of the FCPA and conspiracy to violate the FCPA counts, and a maximum penalty of 20 years in prison on each of the money laundering and money laundering conspiracy counts. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Charges against Oztemel and Innecco were unsealed on Feb. 17, 2023. In a superseding indictment returned on Aug. 29, 2023, both were charged alongside Oztemel’s brother, Gary Oztemel. Gary Oztemel pleaded guilty to money laundering on June 24. In May 2023, Innecco was arrested in France and his extradition to the United States is pending. An indictment is merely an allegation, and Innecco is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    In a related matter, in December 2023, Freepoint admitted to bribing officials in Brazil in violation of the anti-bribery provisions of the FCPA. Freepoint entered into a deferred prosecution agreement with the Criminal Division’s Fraud Section and the U.S. Attorney’s Office for the District of Connecticut. As a part of the resolution, Freepoint agreed to pay more than $98 million in criminal penalties and forfeiture.

    The FBI Los Angeles Field Office’s International Corruption Squad investigated the case. The Justice Department’s Office of International Affairs and authorities in Brazil, Latvia, Switzerland, and Uruguay provided assistance with the investigation.

    Trial Attorneys Allison McGuire and Clayton P. Solomon and Assistant Chief Jonathan P. Robell of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Michael McGarry for the District of Connecticut are prosecuting the case.

    The Criminal Division’s Fraud Section is responsible for investigating and prosecuting FCPA and Foreign Extortion Prevention Act (FEPA) matters. Additional information about the Justice Department’s FCPA and FEPA enforcement efforts can be found at www.justice.gov/criminal/fraud/fcpa.

    MIL Security OSI –

  • MIL-OSI: Further Information on Forthcoming Dividend

    Source: GlobeNewswire (MIL-OSI)

    24 September 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or the “Company”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European investment company specialising in digital assets, indicated a distribution to shareholders would be considered within the parameters of the newly adopted dividend policy.

    Further to the announcement dated 12 April 2024 regarding the Company’s dividend distribution for the financial year 2023 (“Regular Dividend”) and the announcements dated 12 July 2024 and 22 July 2024 regarding the decision to distribute a special dividend following the sale of the Company’s FTX claim (“Special Dividend”), the Company now provides some additional details on the forthcoming payments.

    The Special Dividend will be paid in conjunction with Tranche 3 of the Company’s forthcoming Regular Dividend payment, introduced earlier this year. The details for the remaining two Regular Dividend payments for 2024 in respect of the financial performance of 2023 are as follows:

      Ex-dividend date Record date Payment date
    Tranche 3
    (together with Special Dividend)    		 27 September 2024 30 September 2024 3 October 2024
    Tranche 4 27 December 2024 30 December 2024 6 January 2025

    As the Special Dividend will be paid together with Tranche 3, each of the Ex-dividend date, Record date and Payment date for the Special Dividend Payment will be as disclosed in the table above.

    The total amount to be paid together with Tranche 3 on or around 3 October 2024 will be the combined amount of the Special Dividend (GBP 23,647,260.89) and Regular Dividend (GBP 2,312,623), totalling GBP 25,959,883.89 and representing GBP 0.3894 per ordinary share to be paid from the Company’s reserves. The dividend to holders of ordinary shares will be made in sterling (GBP) and subsequently, before distribution to shareholders who hold ordinary shares via Euroclear Sweden, has been converted to SEK at a rate of GBP/SEK 13.4938 resulting in a dividend per share via Euroclear Sweden of SEK 5.2557.

    In accordance with Article 115(4) of the Companies (Jersey) Law 1991, each payment will be subject to an assessment of the financial health of the Company by its Board.

    About CoinShares

    CoinShares is the leading European alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

    For more information on CoinShares, please visit: https://coinshares.com
    Company | +44 (0)1534 513 100 | enquiries@coinshares.com
    Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

    The MIL Network –

  • MIL-OSI Translation: Olympic Games and other major events: participation in the process

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Council

    Bern, 27.09.2024 – In Switzerland, we have the legal basis and the necessary instruments to enable the population to participate in the planning and organisation of the Olympic Games and other major events. This is the conclusion of the report drawn up in response to the postulate of the Committee for Science, Education and Culture NC (21.3022) “Olympic Games and other major events. Participation in the process”. The Federal Council approved the report in question at its meeting on 27 September 2024.

    The Swiss population has sufficient opportunities to participate in the planning and organisation of the Olympic Games and other major events. There is therefore no need to adapt the existing legal framework to ensure greater involvement of the population and Parliament. This is the conclusion reached by the Federal Council in its report in response to the postulate of the Committee on Science, Education and Culture CN (21.3022) “Olympic Games and other major events. Participation in the process”. The report in question concerns the participation of the population and Parliament in the Winter Olympic and Paralympic Games only. However, the conclusions reached can also be applied to other major events that are not necessarily in the sporting sphere.

    Decisive involvement of the local population

    The challenge of planning and organising the Winter Olympic and Paralympic Games is primarily faced by the host regions and localities in Switzerland. It is therefore very important that the local and regional population can be involved in the process.

    All cantons already have an effective instrument in place with the financial referendum, which allows the population to express their views. Other tools (such as the consultative vote) ensure the participation of those directly affected in the municipalities and regions.

    Sufficiently solid existing legal bases

    At the level of the Confederation, the Federal Assembly makes decisions on expenditure. It is not possible to launch a financial referendum here. However, Parliament could, by means of a decision of principle or planning decision (Art. 28 of the Parliament Act), define general conditions – for example concerning financing, sustainability objectives, etc. – that would have to be taken into account in the future when planning and organising Winter Olympic and Paralympic Games in Switzerland. If Parliament also validates the scope of such a decision, it would then be subject to an optional referendum.

    All other essential conditions are already regulated in the existing legal bases, which also apply to the support and organisation of the Olympic Games. The Federal Council therefore concludes in its report that there is no need to establish new legal bases.

    Address for sending questions

    Communication OFSPO 41 58 467 61 33info@baspo.admin.ch

    Author

    Federal Councilhttps://www.admin.ch/gov/fr/accueil.html

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

    MIL Translation OSI

  • MIL-OSI Asia-Pac: HKMA Quarterly Bulletin and Half-Yearly Monetary and Financial Stability Report (September 2024 Issue)

    Source: Hong Kong Government special administrative region

    HKMA Quarterly Bulletin and Half-Yearly Monetary and Financial Stability Report (September 2024 Issue)
    HKMA Quarterly Bulletin and Half-Yearly Monetary and Financial Stability Report (September 2024 Issue)
    ******************************************************************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     The Hong Kong Monetary Authority (HKMA) today (September 27) published the September 2024 issue of its Quarterly Bulletin and Half-Yearly Monetary and Financial Stability Report.           The Quarterly Bulletin carries a feature article entitled “Regulatory Regime for Stablecoin Issuers in Hong Kong”. The Half-Yearly Report provides detailed analyses of the global and local economy, as well as the monetary and financial conditions in Hong Kong. It also examines the recent performance and risks of the local banking sector.            The Quarterly Bulletin and the Half-Yearly Report can be viewed on and downloaded from the HKMA website. 

     
    Ends/Friday, September 27, 2024Issued at HKT 16:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: Tax Reform – Petition Calls for Capital Gains Tax

    Source: Tax Justice Aotearoa

    27 September 2024 – A petition has been launched today calling on the leaders of all our political parties to consider a capital gains tax in Aotearoa.

    Tax Justice Aotearoa’s petition seeks to level the playing field of the current tax system and highlights the urgent need for more revenue to fund essential services and infrastructure.

    “Our tax system is way out of balance and a capital gains tax (CGT) is a good first step that would help level the playing field between wage earners and those who mainly earn their money through investments,” says Tax Justice Aotearoa chair Glenn Barclay.

    “There has been growing support for a capital gains tax from a range of individuals and organisations in the media in recent weeks and it is timely to give the public of New Zealand the opportunity to express their support too.

    “The additional revenue raised could be used to fund vital services such as education, healthcare and infrastructure and to help address climate change, leading to a better quality of life for all New Zealanders.”

    ActionStation is hosting the petition and Director Kassie Hartendorp agrees it’s time to make capitalgains tax a reality.

    “Just over 72% of the members we talked to support a capital gains tax – including 18% of those people who would benefit from that tax and yet still thought it would have a positive impact.

    “Our country is ready to join many others around the world, and just make it happen.”

    It’s a kaupapa shared across a range of advocacy groups including Child Poverty Action Group (CPAG).

    “We welcome a discussion on capital gains tax, especially this week when the Minister for Child Poverty Reduction rejected a $3 billion proposal from officials that would have kept us on track to achieving the goal of halving child poverty by 2028,” says CPAG Executive Officer Sarita Divis.

    “This is at the same time the government is giving tax cuts of $2.9 billion for landlords, allowing them to deduct interest as an expense and receive tax free capital gains on sales of their houses.  

    “Taxes allow us to do the things we want to do as a nation, like ending child poverty,” Sarita Divis says.

    New Zealand Nurses Organisation (NZNO) also backed the petition.

    “Fairer taxes would support appropriate levels of health funding and better patient outcomes by enabling safe levels of health care professional to patient ratios,” says Anne Daniels, President of the NZ Nurses Organisation.

    Another organisation supporting the petition was the New Zealand Council of Trade Unions.

    “The NZCTU Te Kauae Kaimahi strongly believes that our current tax system isn’t fit for purpose and isn’t delivering the outcomes New Zealanders deserve,” says Craig Renney, NZCTU Economist and Director of Policy.

    “Workers pay tax on every dollar earned, while those who make huge capital gains pay nothing at all.

    “Levelling the playing field through a well-designed CGT would benefit workers, the economy, and the housing market while delivering revenue to invest in underfunded public services.

    “There is a reason why so many other countries have a CGT and continue to do better than Aotearoa,” Craig Renney says.

    It was a message shared by the Public Service Association (PSA).

    “The Public Service Association Te Pūkenga Here Tikanga Mahi believes we need a fairer tax system that helps properly fund public and community services, so that they are there when we need them,” says Kerry Davies, PSA’s national secretary.

    “A capital gains tax should be part of a fair tax system that generates the revenue the Government needs to do its job of looking after all New Zealanders.”  

    Tax Justice Aotearoa calls on all New Zealanders to sign and share the petition to show their support for a fairer and more equitable tax system:

    https://our.actionstation.org.nz/petitions/it-s-time-for-a-capital-gains-tax

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    MILES AXLE Translation. Region: Russian Federation –

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

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    September 27, 2024

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    September 27, 2024

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    September 27, 2024

    Delcy Rodriguez, Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela, in a meeting with Alexander Novak

    September 27, 2024

    Previous news Next news

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    Deputy Prime Minister of the Russian Federation Alexander Novak held a meeting with the Executive Vice President, Vice President for Economy, and Minister of People’s Power for Oil of Venezuela Delcy Rodriguez on the sidelines of the international forum “Russian Energy Week”.

    “Venezuela remains a reliable partner and ally of Russia in Latin America and in the world as a whole. The strategic nature of our relations is based on a mutual desire to build a more just polycentric world order, coincidence of positions on most issues on the global agenda, mutually beneficial cooperation in the trade and economic, credit and financial, investment, cultural and humanitarian spheres,” the Deputy Prime Minister noted.

    The parties discussed cooperation in the oil and gas sectors, including coordination of positions within the Gas Exporting Countries Forum and OPEC, terms of equipment supply for industrial projects in the Venezuelan fuel and energy complex, as well as prospects for implementing joint projects in the non-energy applications of nuclear technologies to solve problems in medicine, agriculture, education and industry as part of expanding cooperation in the peaceful use of nuclear energy. The meeting participants touched upon the topic of promoting trade with settlements in national currencies and issues of financial and credit relations.

    The Deputy Prime Minister emphasized the positive trend in bilateral trade, the volume of which has grown by almost 50% over the past six years. In January-July of this year, Russian-Venezuelan trade turnover increased by 80% compared to the same period last year. The volume of tourist flow from Russia to Margarita Island also increased over this period to 12 thousand people.

    Alexander Novak invited a delegation from Venezuela to participate as guests of honor in the International Export Forum “Made in Russia”, which will be held on October 14, 2024 in Moscow.

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

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

    http://government.ru/nevs/52815/

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

    MIL OSI Russia News –

  • MIL-OSI Europe: Written question – Closed migrant detention centres in the EU – P-001784/2024

    Source: European Parliament

    Priority question for written answer  P-001784/2024
    to the Commission
    Rule 144
    Afroditi Latinopoulou (PfE)

    The uncontrolled influx of illegal migrants represents a serious threat to the EU’s security, social cohesion and economic stability. As Europe’s bulwark, Greece suffers a disproportionate burden as a result of the mass migratory flows, which undermine national sovereignty and drain the country’s resources. The immediate adoption of strict measures, such as closed detention centres, is an urgent step in preventing illegal entry and protecting European borders and values.

    In view of the above:

    • 1.Are closed migrant detention centres permitted to operate in the EU, including in Greece? If so, subject to which conditions?
    • 2.How does the Commission view the impact of closed detention centres on the management of migrant flows and the prevention of illegal entry into the EU?
    • 3.Are there EU funds available to finance such establishments in Greece and other Member States? If so, how much funding is available and what are the conditions for its provision?

    Submitted: 23.9.2024

    Last updated: 27 September 2024

    MIL OSI Europe News –

  • MIL-OSI: Notice of Extraordinary General Meeting of Shareholders of Multitude P.L.C.

    Source: GlobeNewswire (MIL-OSI)

    MULTITUDE P.L.C. (C 109441)

    ST Business Centre, 120, The Strand

    Gzira, GZR 1027

    Malta

    NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF MULTITUDE P.L.C.

    Notice is given to the shareholders of Multitude P.L.C. (previously Multitude SE) (“Company” and/or “Multitude”) that an Extraordinary General Meeting of the shareholders of the Company is to be held on 23 October 2024 at 10:00 a.m. (EEST / Finnish time) (the “Meeting”).

    The Meeting will be held at the offices of Castrén & Snellman Attorneys Ltd, Eteläesplanadi 14, Helsinki, Finland. Instructions for participation are provided in section 3 of this notice.

    The Meeting is being convened following the transfer of the Company’s registered office from Finland to Malta in accordance with Article 8 of the Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European company (SE) on 30 June 2024, in order to adopt the Company’s final accounts as required pursuant to Section 11 of the Finnish European Companies Act (742/2004, as amended) (the “Finnish European Companies Act”) and to make certain related resolutions. Accordingly, for the purposes of Section 11 of the Finnish European Companies Act, the Meeting is deemed to be a meeting of shareholders (in Finnish: “osakkeenomistajien kokous”).

    The Meeting will be conducted in the English language and will be held in person.

    1        MATTERS ON THE AGENDA OF THE MEETING

    At the Meeting, the following matters will be considered:

    General:

    (1)        Opening of the Meeting and appointment of chairman

    The appointment of the chairman shall be carried out in terms of article 59 of the Company’s articles of association (the “Articles”).

    (2)        Quorum

    In terms of article 56 of the Articles at least one (1) shareholder, present in person or by proxy, entitled to attend and vote at the Meeting shall constitute a quorum.

    (3)        Calling the Meeting to Order

    (4)        Election of Persons to Scrutinise the Minutes and to Supervise the Counting of Votes

    (5)        Recording the Legality of the Meeting

    (6)        Recording the Attendance at the Meeting and Adoption of the List of Votes

    Special business (ordinary resolutions):

    (7)        Presentation and approval of the Final Accounts

    Pursuant to Section 11, Subsection 1 of the Finnish European Companies Act, the board of directors and the chief executive officer of a European company transferring its registered office from Finland must prepare final accounts as soon as possible after the transfer. The final accounts must include the financial statements and the board of directors’ report for the period for which financial statements have not yet been presented at the shareholders’ general meeting. The Company’s board of directors (the “Board”) has approved the Company’s final accounts including the financial statements and the board of directors’ report for the period running from 1 January 2024 to 30 June 2024 (the “Final Accounts”). The Final Accounts are available on the Company’s website at www.multitude.com.

    The Board proposes that the Meeting resolves to adopt the Final Accounts.

    (8)        Resolution on Discharging the Members of the Board and the Chief Executive Officer from Liability

    Insofar as permitted under the Maltese Companies Act (chapter 386 of the laws of Malta), and in line with Finnish market practice, the Board proposes that the Meeting resolves to discharge the members of the Board and the chief executive officer of the Company (the “CEO”) from liability for the period covered by the Final Accounts (i.e., while the Company was still registered in Finland). The discharge of the members of the Board and the CEO from liability is a standard procedure under Finnish law following the approval of financial statements for a particular period.

    (9)        Closing of the Meeting

    2        MEETING MATERIALS

    This notice (which includes the proposals of the Board of Directors relating to the agenda of the Meeting) as well as the Final Accounts and the auditors’ report thereon are available on the Company’s website (www.multitude.com). Such documents will also be (a) sent to shareholders who so request and who inform the Company of their mailing address and (b) made available at the Meeting.

    The minutes of the Meeting will be made available on the Company’s website no later than one week after the date of the Meeting.

    3        PARTICIPATION INSTRUCTIONS

    IMPORTANT NOTE: THESE INSTRUCTIONS ARE DIFFERENT TO THE INSTRUCTIONS GIVEN IN PREVIOUS GENERAL MEETINGS OF THE COMPANY WHICH WERE HELD WHILE THE COMPANY WAS STILL REGISTERED IN FINLAND. YOU ARE THEREFORE ADVISED TO READ THE INSTRUCTIONS CAREFULLY AND SEEK ADVICE WHERE NEEDED. YOU ARE ALSO ENCOURAGED TO CONTACT YOUR RESPECTIVE CUSTODIAN / NOMINEE AS SOON AS POSSIBLE. PLEASE SEND AN EMAIL TO agm@multitude.com FOR ANY QUESTIONS YOU MAY HAVE.

    3.1        Record date

    To be entitled to attend and vote at the Meeting (and for the Company to be able to determine the number of votes that may be cast), shareholders must have been entered in the register of members maintained by Clearstream Banking AG (“Clearstream”) on 23 September 2024.

    3.2        Preliminary

    Shareholders are advised to ask their custodian bank / nominee without delay for the necessary information regarding registration for the Meeting, the issuing of proxy documents and voting instructions. In any case, shareholders should ensure that all relevant instructions are submitted by their custodian / nominee to Clearstream as soon as possible, within any applicable deadline. Clearstream will process all instructions received and will transmit them to the Malta Stock Exchange (as ‘issuer CSD’). In turn the Malta Stock Exchange will transmit the aggregated instructions to the Company.

    In terms of the Company’s articles of association, the Company must receive all relevant shareholder instructions from the Malta Stock Exchange (as ‘issuer CSD’) no later than 10:00 a.m. (EEST / Finnish time) on 21 October 2024, and any instructions submitted to the Company after this deadline shall not be treated as valid. Accordingly, shareholders are encouraged to reach out to the respective custodians / nominees as soon as possible in order to ensure that their respective instructions are submitted to Clearstream within any applicable deadline.

    The Meeting will be held in person at the address indicated above. Shareholders and proxy representatives who wish to attend the Meeting will therefore be required to follow the Meeting registration requirements and will be required to make their own arrangements to attend the Meeting.

    3.3        Participation in person

    Shareholders who wish to attend and vote at the Meeting in person must notify their intention to their respective custodians / nominees as soon as possible. Custodians / nominees will in turn be required to notify shareholders’ intention to participate at the Meeting by electronic instruction to Clearstream as soon as possible and in line with any deadlines that may be imposed by Clearstream, which instructions must be delivered in terms of Clearstream’s existing procedures.

    Custodians/nominees may request shareholders’ full names, passport numbers/company registration numbers (or similar), full addresses, date of birth and daytime telephone number, number of shares in the Company, as well as, if applicable, details of proxies. Information submitted in connection with the notification will be computerised and used exclusively for the Meeting.

    3.4        Proxy representatives

    A shareholder, who is entitled to attend and vote at the Meeting, is also entitled to appoint one or more proxies to attend and vote on such shareholder’s behalf. A proxy does not need to be a shareholder. The appointment of a proxy must be in writing and (a) where the shareholder is an individual, be signed by him/her or (b) where the shareholder is a corporation, be signed by a duly authorised officer of the corporation. The proxy form to be used by shareholders is available on the Company’s website: www.multitude.com.

    Proxy forms must clearly indicate whether the proxy is to vote as she/he wishes or in accordance with the voting instructions sheet attached to the proxy form. Shareholders are advised that by submitting voting instructions they will effectively be voting in advance.

    The signed proxy form and, where the shareholder is a corporation, a certified copy of a certificate of registration, constitutive documents or similar document evidencing the signatory right of the officer signing the proxy form, must be submitted to each shareholder’s respective custodian / nominee as soon as possible. Custodians / nominees will in turn be required to deliver shareholders’ proxy data to Clearstream as soon as possible, within any applicable deadline, which data must be delivered in terms of Clearstream’s existing procedures.

    Shareholders are, therefore, encouraged to send or deliver their proxy forms (and, if applicable certified copies of certificates of registration or similar) as soon as possible.

    Notice for the Malta Stock Exchange (as issuer CSD): Aggregated attendance notifications and proxy data processed by and received from Clearstream must be sent by the Malta Stock Exchange to the Company by email at agm@multitude.com not less than 48 hours before the time appointed for the Meeting and in default shall not be treated as valid.

    3.5        Right to ask questions

    Each shareholder (or proxy holder) shall have the right to ask questions which are pertinent and related to items on the agenda of the Meeting to the Company by e-mail to agm@multitude.com by not later than 16 October 2024 by 23:59 (EEST / Finnish time).

    An answer to a question will not be given in those cases specified in article 70 of the Articles (a copy of which is available on the Company’s website).

    3.6        Other information

    As at the date of this notice the total number of shares in the Company is 21,723,960 and each of these shares carries one vote. As at the date of this notice, the Company holds 154,993 of its own shares as treasury shares. Pursuant to article 109 of the Maltese Companies Act, those shares which the Company holds in itself do not carry voting rights. Accordingly, the number of voting rights carried by the outstanding shares is 21,568,967.

    Please refer to the document titled ‘Privacy Notice – Extraordinary General Meeting 2024’ available at www.multitude.com for additional information on the processing of personal data. Kindly also refer to Clearstream’s Notice of European Union Data Protection Terms which sets out how sets out how personal data is used, stored, transferred or otherwise processed by Clearstream (https://www.clearstream.com/clearstream-en/about-clearstream/due-diligence/gdpr/dataprotection).

    –––––––––––––––––––––––––

    In Malta on 27 September 2024

    MULTITUDE P.L.C.
    The Board of Directors

    Contact: 

    Lasse Mäkelä  
    Chief Strategy and IR Officer 
    Phone: +41 79 371 34 17 
    E-Mail: Lasse.makela@multitude.com 
      

    About Multitude P.L.C.: 

    Multitude is a listed European FinTech company, offering digital lending and online banking services to consumers, small and medium-sized enterprises, and other FinTechs overlooked by traditional banks. The services are provided through three independent business units, which are served by our internal Banking-as-a-Service Growth Platform. Multitude’s business units are Consumer Banking (Ferratum), SME Banking (CapitalBox), and Wholesale Banking (Multitude Bank). Multitude Group employs over 700 people in 25 countries and offers services in 16 countries, achieving a combined turnover of 230 million euros in 2023. Multitude was founded in Finland in 2005 and is listed on the Prime Standard segment of the Frankfurt Stock Exchange under the symbol ‘E4l’. www.multitude.com 

    The MIL Network –

  • MIL-OSI United Kingdom: Oxford City Council response to planning inspectors’ findings on its draft Local Plan 2040

    Source: City of Oxford

    Oxford City Council’s plans to tackle Oxford’s housing crisis face a setback as planning inspectors have recommended the withdrawal of its draft Local Plan 2040.

    The Council submitted the plan for public examination by the Planning Inspectorate (PINS) in March. Inspectors then held an initial set of public hearings in June to decide whether the Local Plan 2040 satisfies national planning policy and other legal requirements. 

    The urgent need for homes

    The PINS has accepted the Council’s approach to maximising the number of new homes that can be built within city boundaries by 2040, with 481 a year proposed. 

    However, inspectors have rejected the Council’s assessment that 1,322 homes a year are needed in total, with 841 of these needing to be built outside Oxford’s boundaries. 

    Oxfordshire’s thriving life science and technology sectors mean the county has been one of the few hotspots in a stagnating UK economy for some time. Economic growth creates the need for more homes than allowed for in the National Planning Policy Framework’s (NPPF) default ‘standard method’ for calculating how many homes are needed. 

    Inspectors had previously agreed Oxfordshire’s exceptional circumstances justified the need for more homes. Oxford’s existing Local Plan 2036 and those of its neighbouring districts are based on this foundation and the districts have already agreed to build 14,300 homes to meet Oxford’s needs. 

    The Local Plan 2040 takes a similar approach in using job and population growth forecasts to assess how many homes are needed. The inspectors have now U-turned and said there are no exceptional circumstances justifying the need for more homes, even despite continued strong economic growth.  

    This means the Council would need to use the standard method calculation of 762 homes a year. 

    This is not enough to meet the need for new homes, even if economic factors are disregarded. The need for affordable housing alone would require 700 new homes a year.  

    Oxford is one of the least affordable places to live in the UK, with average house prices more than 12 times household earnings and more than 3,300 households on the waiting list for council housing. 

    The PINS U-turn also flies in the face of the new Labour government’s intention to set new mandatory housing targets requiring a 59% increase in the number of homes to be delivered in Oxfordshire – an extra 1,900 a year countywide. 

    Duty to cooperate

    Despite a long history of collaborative working with stakeholders and neighbouring councils on planning issues affecting Oxfordshire, the PINS has also concluded the council failed to meet its ‘duty to cooperate’ in preparing the Local Plan 2040.  

    This finding relates to a single five-month period in 2022 after the collapse of the Oxfordshire Plan 2050 that involved all five district councils. In this period, the Council was working with Cherwell District Council to commission the HENA as a joint evidence base for their respective plans.  

    Oxfordshire’s other districts declined the invitation to take part in this project. However, they were offered the opportunity to engage with the findings of the work. 

    While the Council strongly disputes the inspectors’ findings as it is confident it engaged appropriately with neighbouring councils, the NPPF provides no mechanism to appeal them. 

    The Council is currently considering its options. However, any amendment to the Local Plan 2040 would mean the need for further public consultation and delay any implementation of the plan.   

    Comment 

    “We are alarmed and extremely disappointed by the recommendation to withdraw our Local Plan 2040 from public examination.  

    “The planning inspectors have failed to grasp the seriousness of Oxford’s housing crisis and the number of new homes we need to tackle this crisis – and don’t appear to have heeded the clear message from government which requires all councils to up their housing delivery ambitions.  

    “The logical outcome of the inspectors’ conclusions will be a delay to proactively planning for the homes we need. The reality is that while the City Council are builders, there are others elsewhere who are blockers. Waiting for a situation where all councils in Oxfordshire are agreed on housing numbers and cross-boundary matters is just not realistic. That’s why the government is planning the reintroduction of mandatory housing delivery targets.” 

    “Our approach hasn’t changed. Yet the PINS now says there are no exceptional circumstances and we should now use the current ‘standard method’ – already rejected by the new government – for working out how many homes we need. This would mean fewer homes being built, and far fewer than we actually need. 

    “The current standard method is not fit for purpose and flies in the face of the government’s policy intention to overhaul a broken national planning system and deliver 1.5 million homes. The current standard method does not even take account of population increases that have already happened in Oxford and across Oxfordshire recorded in the census. Using this discredited method to calculate how many homes we need would make the city’s housing crisis worse.  

    “Oxford City Council also disputes the finding it has not met the duty to cooperate. We have a longstanding history of working collaboratively with neighbouring councils and other stakeholders on planning issues affecting Oxfordshire – including during the preparation of this plan.  

    “The duty to cooperate is not a duty to agree. Nor should it be a charter for those who object the loudest to be able to block the building of desperately needed homes.” 

    Councillor Susan Brown, Leader of Oxford City Council

    The inspectors’ recommendation (PDF), the Council’s response (PDF) and a summary briefing note are on the Council’s website. 

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Text of Vice-President’s address on the occasion of World Tourism Day 2024

    Source: Government of India (2)

    Posted On: 27 SEP 2024 2:12PM by PIB Delhi

    The transformation that has taken place in the last decade by doubling the number of airports, having world-class infrastructure for connectivity railroads, various facets of it, highways, expressways highways that match the best in the world. 

    Diplomats, grateful for your gracious presence, all stakeholders in tourism, and distinguished audience. On the occasion of World Tourism Day, it is very significant for the entire planet because it connects those bonds of humanity which are much needed at the moment, my greetings. 

    This is an event to celebrate the profound impact of tourism on global economic development, social progress, and cultural exchange. Friends, these are just not words, you realise them on the ground. They are reflected tangibly, economic development is intertwined with the tourist industry, with tourism. 

    The theme this year is very thoughtful and bears huge contemporary relevance, tourism and peace. The theme underlines something very deep. It connects amongst human resources, connects amongst people, and people-to-people contact. That is conducive to harmony and generates an ecosystem of exchange of ideas. Therefore, rightly so, tourism contributes massively to peace, the theme is not a day too soon, the entire world is yearning for peace.

    We are traumatised by conflagrations, any conflagration in any part of the globe is torture to every part of the land. It disrupts supply chains, disrupts planning, a pain and therefore, tourism and peace have great relevance. 

    The theme is particularly befitting for Bharat, the largest, vibrant, and functional democracy, home to one-sixth of humanity, tourism globally is a thriving industry. It is so thriving that some countries thrive only on tourism, their economy is sustained by tourism, it is the spine of their economy when it comes to Bharat. A statement was made, taking note of the phenomenal, exponential progress this nation has witnessed in a decade. 

    I go back to more than three decades when I was a Member of Parliament in 1989 and a Minister in the Union Government then, the size of our economy was smaller than that of the city of Paris and London. When I went to Jammu and Kashmir, Srinagar, as part of the Council of Ministers, I could not see more than dozens of people on the streets, We were staying at a hotel by Dull lake and now imagine where we have come. Two crore people visited Kashmir as tourists last year. 

    The economy today of Bharat has traversed in a decade from a fragile five to the five largest global economies. In the next two years, by all indications, we will be ahead of Japan and Germany to be the third. That is where Bharat is at the moment. So much has changed in the ecosystem by affirmative governance, technological advancement, transparent, accountable mechanisms in place for every governmental dealing that the International Monetary Fund reflected. India is a favourite global destination for investment and opportunity.

    India, that is Bharat, is favourite global destination for tourism, go to any part of India, and the diplomats present here who have been to various parts, I am sure, will bear me out. We have tourism for all seasons, come to this land of spirituality, land of sublimity, land of knowledge, land of Vedas, and the civilisational ethos of 5000 years. Any time of the year, you will have the occasion to feast on tourist destinations.

    The economic growth engine of this nation, destined to reach 2047 as a developed nation, will be fuelled majorly by tourism and I have no doubt you will leave no effort to tap the potential waiting to be exploited. And why not? All that is needed for the exploitation of our tourist resources and tourism destinations is, one, you need an image of the nation. 

    An image of Bharat in the world is very different from what it was a decade ago, the leadership of Bharat is recognised globally. Which other economy in the world of this size can claim to be rising around 8% GDP annually? and so, predicted for many years to come. Look at 1.4 billion people being serviced with last-mile delivery with respect to toilets, electricity, internet, education, and tap water. ‘हर घर नल, हर नल में जल, जल निश्चित रूप से, जल क्वालिटी का होI, tested him stringently when he called upon me to inaugurate one of his pilot projects.

    I said Mr. Minister, go to Jhunjhunu, my home district, click off the button, go to my Tehsil Chirawa click off the button, I said, go to my village, Kithana click off the button and tell me how many houses have नल with जल. My house had, the name was there. Some houses did not have, and faithfully, they were also reflected with one indicator, the work is in progress.

    Moved by this great achievement, accomplishment, and credentials, he has now been given the daunting task where he will have to deal with everyone. He is very tactful, go to the Civil Aviation Minister here. He will get the Railway Minister, you will have to get all the Ministers. Because, if I say

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Ministry of Health and Family Welfare, Government of India, and the Asian Development Bank conclude the Climate and Health Solutions India Conclave with Strategic Insights for Future Action

    Source: Government of India (2)

    Ministry of Health and Family Welfare, Government of India, and the Asian Development Bank conclude the Climate and Health Solutions India Conclave with Strategic Insights for Future Action

    Discussion on “Climate Resilient and Responsive Health Systems and Infrastructure”, chaired by representatives from 19 states and Union Territories, including Andhra Pradesh, Assam, Gujarat, Kerala, and Tamil Nadu

    The conclave served as vital platform to develop concrete, actionable, and forward-thinking solutions, highlighting the urgency of integrating climate action with public health strategies

    As India stands at a critical juncture, we have the opportunity—not just to respond to the challenges of climate change and public health, but to lead the global agenda on these issues: Union Health Secretary

    Posted On: 27 SEP 2024 1:07PM by PIB Delhi

    The second day of the Climate and Health Solutions (CHS) India Conclave, co-hosted by the Ministry of Health and Family Welfare (MoHFW), Government of India, and the Asian Development Bank (ADB), concluded successfully in Delhi. The two-day conclave focused on the urgent intersection of climate change and public health in India, convening policymakers, experts, and stakeholders to develop actionable strategies for the health sector in the face of these pressing challenges.

    The day’s proceedings began with a series of insightful roundtables. Participants engaged in in-depth discussions on critical issues, including Non-Communicable Diseases (NCDs), Mental Health, Nutrition, Climate-Ready Healthcare Human Resources, Blended Finance for Climate-Health Bold Bets, Digital Technologies and Data, and the development of Climate-Resilient and Responsive Health Systems and Infrastructure.

    With over 330 participants at the conclave, one of the highlights of Day 2 was a roundtable discussion on “Climate Resilient and Responsive Health Systems and Infrastructure”, chaired by representatives from 19 states and Union Territories, including Andhra Pradesh, Assam, Gujarat, Kerala, and Tamil Nadu. This session emphasized the urgent need for adaptive infrastructure capable of withstanding the increasing frequency of extreme weather events.

    The roundtable on “Non-Communicable Diseases, Nutrition and Mental Health” had key discussions featuring varied contributions. Dr. Cherian Varghese discussed the Kerala floods and how climate change is impacting the social determinants of non-communicable diseases (NCDs), particularly livelihoods, access to healthcare, and the disproportionate impact on the most vulnerable. Dr. Naveen Kumar C discussed mental health implications and its direct and indirect implications, while Dr. Bhuvaneswari Balasubramanian, from the Global Alliance for Improved Nutrition (GAIN), highlighted the integration of climate change and nutrition.

    In the session on “Blended Finance for Climate-Health Bold Bets,” Ms. Jaya Singh, Policy and Programme Lead for the Asia Pacific Region at United Kingdom’s Foreign, Commonwealth, & Development Office, underscored the government’s role in establishing regulations and safeguards for private sector investors in climate and health. She also called for attractive funding models, such as green catalytic funding and guarantee-based grants, to support targeted sectors including infrastructure, health, and education. Himanshu Sikka, Program Lead, Pahal Samridh, highlighted that despite 25% of the global disease burden being linked to environmental risk factors, only 0.5% of international climate finance goes to health.

    The session also showcased innovations on the conclave sub-thematic areas, such as a Climate Risk Observatory Tool for heat and health mapping and management, Pluss Technologies, Blackfrog Technologies, and Redwings for climate resilient health infrastructure and the work of ARTPARK, IISc Bangalore for climate and health early warning systems.

    Culminating in a focused workshop on climate and health Transformational at Scale led by senior government officials and ADB representatives, participants comprehensively showcased the sub-thematic outcomes of the two-day conclave aligning health systems with climate objectives. The conclave served as a vital platform to develop concrete, actionable, and forward-thinking solutions, highlighting the urgency of integrating climate action with public health strategies. Participants from various states and sectors successfully initiated dialogues and action plans that will shape India’s approach to health and climate in the years to come.

    In his closing remarks at the Valedictory Conclusion, Shri Apurva Chandra, Secretary of MoHFW, expressed gratitude to all participating stakeholders, experts and policymakers. He stated, “As we conclude this significant Climate and Health Solutions Conclave, our focused discussions over the past two days have illuminated the intertwined crises of climate change and public health, showcasing the power of collective action. The solutions presented in our deep-dive sessions have paved the way for actionable strategies that integrate climate-conscious thinking into health policies. As India stands at a critical juncture, we have the opportunity—not just to respond to these challenges but to lead the global agenda on climate and health. Let us translate the insights gained here into tangible actions for a resilient future.”

    Going forward, ADB and MoHFW will publish an outcome document detailing the eight key conclave topics, identified outcomes, and an accompanying bouquet of activities that will inform national, regional and sub-national climate and health action plans. The Climate and Health Solutions (CHS) Multi-Stakeholder Thought and Action India Conclave will serve as a blueprint for future climate-health provincial sprints, bootcamps, and initiatives in India.

    Ms. LS Changsan, Additional Secretary, Public Health, MoHFW, and Ms. Latha Ganapathy, Joint Secretary, Public Health, MoHFW, lauded the gathering as a monumental conclave that is a turning point in India’s health sector. Ms. Ayako Inagaki, Senior Director, Human and Social Development Sector Office, and Dr. Dinesh Arora, Principal Health Specialist, Health Practice Team from the Asian Development Bank echoed that the India experience will serve as a precedent for climate and health agenda building and operationalization initiation across Asia, the Pacific and beyond.

    *****

     

    MV/AKS

    HFW/ CHS India Conclave Day 2/27th September 2024/2

    (Release ID: 2059375) Visitor Counter : 61

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Press Release – Launching of the Samoa State of Environment 2023 and the National Environment Sector Plan 2023-2027

    Source: Government of Western Samoa

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    (September 13, 2024 – Taumeasina Island Resort)

    The Government of Samoa through its Ministry of Natural Resources and Environment is pleased to announce the official launch of Samoa’s Fourth State of Environment (SOE) 2023 Report and the National Environment Sector Plan (NESP) 2023-2027. This milestone underscores Samoa’s unwavering commitment to safeguarding its unique environment and promoting sustainable development in alignment with global and regional goals.

    The State of Environment 2023 provides an in-depth assessment of the current condition of Samoa’s natural resources, ecosystems, and biodiversity showing a mix of good, fair and poor conditions. It highlights both the progress made and the critical challenges faced in four key thematic areas of

    i)Natural Environment,

    ii) Built Environment

    iii) Atmosphere, Climate & Disaster

    iv) Environmental Governance.

    Some of the key indicators assessed the vital environmental components including Terrestrial Biodiversity and Ecosystems, Inland Waters, Forests, Soil and land resources, Invasive species management, Marine and Coastal ecosystems and fisheries, Waste generation and management, sanitation access, potable water management, environment compliance and monitoring, Greenhouse Gas emissions, consumption of Ozone depletion substances, Energy and renewables, physical climate, natural hazards and climate change impacts. Furthermore assessed environment governance and management by looking at the overall government allocation for environment initiatives, gender equality and MEA and international reporting obligations.

    With these findings, the SOE using the DPSIR Model identifies the Drivers – underlying factors that lead to environmental changes, Pressures – actions that directly stress the environment, State – the condition of the environment as a result and Impacts – the effects on the environment. The R of the DPSIR Model is the Response – which are the measures taken to address environmental impacts and improve or manage the state of the environment. Responses include policies, regulations, technological innovations, research, public awareness and so forth.

    The National Environment Sector Plan 2023-2027 is the response framework to address the recommendations and outcomes of the SOE and provides the platform and impetus needed for coordinated action and responsibility amongst us to achieve environmental sustainability, climate and disaster resilience.

    With its overarching goal of, “Securing environmental sustainability and enhanced climate and disaster resilience”, Four Long Term Outcomes (LTO) are prioritized in its pursuit. Within the four LTO’s are thirteen (13) End of Sector Plan Outcomes developed to progress the implementation of the NESP over the five year period.

    Hon. Minister of Natural Resources and Environment, Afioga Toeolesulusulu Cedric Salesa Pose Schuster in his keynote address, stressed the importance of this dual launch as a significant milestone in Samoa’s journey towards environmental sustainability.

    The government is confident that through continued cooperation and proactive measures, Samoa can meet the challenges posed by environmental degradation and climate change.

    The Ministry acknowledges with gratitude the continuous technical and financial support from SPREP and UNEP, the close collaboration and exceptional contribution of all Environment Sector stakeholders and partners which made this feat possible.

    END.

    SOURCE – Ministry of Natural Resources and Environment Samoa

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  • MIL-OSI Asia-Pac: SPEECH BY ASSOCIATE MINISTER OF WORKS, TRANSPORT AND INFRASTRUCTURE Hon. NIUAVA ETI MALOLO AT THE 2ND ASIA AND PACIFIC MINISTERIAL CONFERENCE CIVIL AVIATION 2024

    Source: Government of Western Samoa

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    (11 TH – 12 TH SEPTEMBER 2024, NEW DELHI, INDIA)

     (Honorable Prime Minister/Minister of Civil Aviation of the Government of India);

     Excellency, Mr. Chairman (need to await the election on who will be Chairman)

     Excellency, Vice Chairperson (need to await the election on who will be vice Chair)

     Respective Excellencies, fellow Ministers distinguished delegates, ladies and gentlemen;

    It is an absolute honour for us to be present here today, extending warm greetings and heartfelt Talofa lava from Samoa.

    First and foremost, I extend my sincere congratulations to the Government of India for the successful hosting of this 2 nd

    Asia and Pacific Ministerial Conference for Civil Aviation, 2024. We are deeply grateful for the invitation extended to us, the gracious Indian hospitality, and the very kind support that has enabled us to join everyone here today. A true reflect of the spirit of collaboration that binds our region.

    The past few years have indeed been challenging, particularly for air transportation in our Pacific Islands.

    For Samoa, these difficulties began with the Measles Epidemic in 2019, which tragically claimed more than 80 lives, most of whom were children. Our borders were shut, and our connectivity was severely affected. This was followed by the global COVID-19 pandemic. which led to nearly three years of border closure, deeply impacting our economy and isolating us from the world.

    Your Excellency, in the face of such adversity, we have been fortunate to receive the unwavering support of our Asia and Pacific neighbours. We are particularly grateful for the training, scholarships, and the Cooperation and Fellowship Programmes extended through the ICAO Developing States Programmes, as well as direct assistance from fellow ‘Good Samaritan’ States. These initiatives have been essential to our recovery, especially for a small island nation like Samoa.

    One of our most significant milestones in recent years has been the establishment of the Pacific Small Island Developing States (PSIDS) Liaison Office in Nadi, Fiji. This office represents a crucial step forward for the PSIDS, enabling us to strengthen safety, security, and capacity-building efforts in civil aviation. As we confront emerging challenges, this collaboration will ensure that our region remains connected and does not lag behind in aviation growth.

    However, challenges remain, particularly in the area of capacity building for Samoa, and many other PSIDS, the small size of our civil aviation workforce makes it difficult to meet the global standards for safety and security oversight.

    Both the state safety oversight and aviation security oversight systems have an effective implementation below global average. With only eight individuals responsible for aviation safety and security for our entire state, the need for continued support and expertise from more developed nations is critical.

    To be able to do this, as a Pacific Small Island Developing State, we look to the more developed countries to guide us and we are very grateful for the unending assistance from the various States to Samoa, which has enabled us to be where we are today.

    This is a true testament of your commitment to enhancing connectivity and fostering development within our Asia and

    Pacific communities.

    Today, as we gather here in New Delhi, we stand together in our commitment to regional cooperation and civil aviation growth. Samoa fully supports the proposed New Delhi Declaration, and we believe that through partnership, we can address our shared challenges and achieve a more connected, secure, and prosperous future.

    May the bonds that began in Beijing, and area being reinforced here in Delhi, continue to flourish, fostering a brighter future for our Asia Pacific Community.

    Thank you…FAAFETAI TELE LAVA.

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  • MIL-OSI Asia-Pac: Statement by the Honourable Toeolesulusulu Cedric Pose Salesa Schuster Samoa’s Minister for Natural Resources, Environment and Lands and Pacific Political Climate Champion for Mitigation at the Oceania Renewable Power Summit

    Source: Government of Western Samoa

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    (17-18 September 2024, Auckland New Zealand)

     Honourable Stuart Smith

     Excellencies, Ladies and Gentlemen,

     Talofa and warm greetings from Samoa

    Acknowledgements

    The United Nations Framework Convention on Climate Change 28th Conference of Parties COP 28 decision to transition away from fossil fuels,

    although did not go as far as we the most vulnerable countries wanted, it is the beginning of the end for Fossil Fuels.

    The doubling of energy efficiency and tripling of renewable energy as part of the COP 28 decision, we hope will turbo charge the transition with financial flows to the needed private and public sector, innovation and availability of efficient technology, policy changes to support affordability and accessibility of such goods and services to the general public, and more importantly, in keeping the 1.5% temperature goal alive and help to stop us from signing our people and planet’s death certificates.

    Transitioning away from dependence on fossil fuel is a key priority for Samoa and for the Pacific as a whole. It has been the Pacific and small island developing states biggest concern since the signing of the UNFCCC in 1992, for even back then, we had already witnessed first- hand the impacts of climate change on our islands, economies, and people.

    So it is quite encouraging to be part of this summit and to hear from experts in the sector, the practical aspects that we need to be

    addressing, the solutions that we need to be elevating, so that we are not too far off from what my country and our region have been asking for – a cleaner and sustainable development pathway.

    Global Level

    My attendance here is an opportunity for me to share views from the various ‘hats’ Samoa wears, which are very much interlinked to the discussions today. Samoa is currently the Chair of the Alliance of Small Island States (AOSIS), so in that capacity, Samoa is responsible for amplifying the voices of Small Island Developing States (SIDS) from around the world. Samoa is also the Pacific Political Climate Champion for Mitigation consolidating the Pacific voices across all relevant forums including the UNFCCC and opportunities like this.

    As small island developing states, we are very clear that phasing out fossil fuels is necessary to limiting global warming to 1.5 degrees Celsius. This is a scientific fact. More importantly, it is about ensuring that the future of our nations remain secure. So these summits where we showcase practical solutions to this issue that continues to be debated at the global level, is critical. It highlights that the solutions are there and instead of ‘talking’ we need to be actioning them.

    Regional Level

    At the regional level, our Leaders aspire to a Just and Equitable Transition to a Fossil Fuel Free Pacific. Given the diversity of our region, they also acknowledge that the pathway to achieving this is not immediate nor is it one-size fits all.

    The discussions today and tomorrow is something that I am very much looking forward to. It looks at the full spectrum of issues that need to be considered in order to harness the potential opportunities renewable energy presents. We are hearing from practitioners who have gone through the trials and errors that we can learn from and inform our vision of a fossil fuel free Pacific.

    Though this summit only focuses on the Electricity sector, it is the

    innovation and the problem solving that is important and has the

    potential to be replicated across other sectors. For the Pacific, the

    transportation sector is one of the largest sectors highly dependent on fossil fuel and presents a potential opportunity for more efficient and greener models. National Level In the context of electricity – the Pacific presents a diverse landscape.

    Access to electricity can be as low as 12% of the total population for some of our countries and up to more than 95% for others. Not all of our countries have hydro and wind power capabilities. Ocean thermal energy conversion (OTEC) could present potential opportunities but is very much untried and the economics is still very risky. Solar energy is common across the region, but even this can be a challenge for small motu or coral atolls with limited land. But in presenting these statistics, the opportunities to work with the Pacific is immense.

    Some of our countries have set a goal of 100% renewable by 2020 while others have set their goal to 2030. For Samoa, we have an energy sector plan that will be implemented over a five-year period and currently is up to 2028. We have explored different kinds of renewable sources including wind, biomass, solar and hydro. Petroleum products make up 70% of Samoa’s total energy supply of which the transport sector accounts for 60% while the electricity sector accounts for 25%.

    Samoa’s Pathway for sustainable development 2022 – 2026, sets a

    target of 70% of renewable energy use by 2031 with the aim to provide affordable, reliable, safe, and clear energy supply for all in the long term.

    However, we note the transition to renewable energy is not without its challenges. Samoa like other Pacific Islands, is uniquely challenged in its decarbonization efforts given its geographical isolation, financial and technological constraints, and high vulnerability to climate impacts.

    To address these challenges, Samoa is committed to collaborating closely with international partners and interested investors to develop robust policy and regulatory strategies as well as upgrading of these infrastructures. Samoa’s Ministry of Works, Transport and Infrastructure, and Sector is leading the implementation of the Pacific Green Transformation Project in Samoa which aims to decarbonize the transport sector, a priority action under our Low Emissions Development Strategy (LEDS).

    I am also pleased to share that our Ministry of Natural Resources and Environment is scheduled to launch its Renewable Energy Rebate Scheme this year with the aim to accelerate decarbonization of the transport sector, the tourism sector and community sector through schools and community centers with the support of the New Zealand Government. Moreover, a National Carbon Offset Programme is also in the pipeline and will provide for an innovative financial avenue to promote green and renewable energy projects at the community level as part of our campaign to create sustainable communities in the long term.

    On raising awareness around renewable energy and its contribution to climate change mitigation. Every year, Samoa celebrates Renewable Energy Day in December to showcase our government’s commitment to accelerate sustainable energy transition for our people. This annual event brings together our Energy sector stakeholders, partners and communities to reflect on the importance of renewable energy on our fight against climate change.

    Like the rest of the Pacific, Samoa is doing its part to increase its

    ambition, to meet the urgency of the climate crisis, despite our negligible global emissions. In this regard, Samoa’s 3rd Nationally Determined Contribution or NDC will continue to enhance emissions reductions and renewable energy adoption towards a low carbon economy. More focus will also be on adaptation approaches as we consider also including Loss and Damage as part of our NDCs.

    Conclusion

    Ladies and Gentlemen, I thank you again for the opportunity to be part of this summit. I look forward to learning more over the next 2 days and I do hope that this conversation continues and involves more of our Pacific islands. And more importantly finding partners that can help us accelerate our transition to clean energy.

    Faafetai.

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  • MIL-OSI: Twaao Expands into European Market, Enhancing Localized Services

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) — Recently, Twaao Exchange announced the establishment of a new office in Europe, aimed at providing more convenient localized services for Eurozone users. The platform plans to deepen its collaboration with European financial regulatory bodies to ensure all operations comply with local laws and regulations. This initiative is expected to enhance user trading experiences and expand Twaao influence in the European market.

    The new office of Twaao is located in Frankfurt, one of the financial hubs in Europe. This strategic location not only facilitates better service for Eurozone users but also promotes closer collaboration with local financial institutions and regulatory bodies. By establishing a local office, Twaao can respond more swiftly to user needs and provide more efficient services.

    In terms of compliance, Twaao will continue to strictly adhere to the financial regulations of European countries, ensuring that all business operations meet legal requirements. The platform will maintain close cooperation with European financial regulators, actively pursuing necessary compliance certifications and licenses. Through these efforts, Twaao is committed to providing users with a safe and reliable trading environment.

    To improve user experience, Twaao will launch a series of localized services in the European market. The platform will support Euro trading pairs and offer various local payment methods, facilitating easier deposits and withdrawals for users. Additionally, Twaao will provide multilingual customer service to ensure users receive timely assistance and support during their trading activities.

    The technical team at Twaao is continuously optimizing the platform features and performance to deliver an efficient and stable trading experience for European users. By introducing advanced trading engines and risk control systems, Twaao can better meet user trading needs, ensuring transaction security and reliability.

    Looking ahead, Twaao will continue to increase its investment in the European market, consistently optimizing and enhancing its service levels. Through deep collaboration with European financial institutions and regulatory bodies, Twaao will introduce more innovative products and technologies, providing users with superior trading services. Additionally, Twaao will actively promote cooperation with local communities and industry partners to jointly foster the healthy development of the European cryptocurrency market.

    The MIL Network –

  • MIL-OSI Video: Gaza Crisis: Calls for Increased Support to UNRWA – UN Chief | United Nations

    Source: United Nations (Video News)

    Secretary-General António Guterres today (26 Sep) said people in Gaza are “existing, not living,” and if “there is any outpost of hope in this hellscape,” it is the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA).

    Addressing a Ministerial level meeting to discuss the situation of the agency, Guterres said, “attempts to evict UNRWA from its headquarters in East Jerusalem continue,” while on the political level, there are “systematic disinformation campaigns to discredit the agency’s life-long work.”

    He noted that “draft legislation in the Israeli parliament seeks to label the agency a terrorist organisation and to make any activity by UNRWA on Israel territory Illegal.”

    UNRWA’s Commissioner General Philippe Lazzarini told the meeting that “Palestinians are no stranger to loss, but to be dispossessed from education, which has always been a source of tremendous pride, is new.”

    He said, “we cannot afford to lose an entire generation and sow the seeds for future hatred and extremism.”

    Disturbingly, Lazzarini continued, “senior Israeli officials have described destroying UNRWA as a war goal.”

    He described efforts to evict the agency from East Jerusalem, and to revoke its privileges and immunities, and designate it as a terrorist organisation, which he said is “an unconscionable action by a member state against a UN entity mandated by the General Assembly.”

    Jordan’s Deputy Prime Minister Ayman Aṣ-ṣafadī, Co-Chair of today’s meeting, said, “the indispensability of UNRWA cannot be questioned, nor can the fact that UNRWA cannot be replaced, for doing that is questioning the right of Palestinian children to food, to shelter, to education and to hope.”

    Aṣ-ṣafadī said, “UNRWA schools, most of them were decimated. Those that still stand are sheltering Palestinians, children, women who are killed by Israeli bombs and starved by Israeli siege, denying them water, food, medicine.”

    He said, “we need UNRWA because nobody can help the Palestinians in Gaza more than UNRWA now.”

    The other Co-Chair, the Minister for Foreign Affairs of Sweden Maria Malmer Stenergard, said, “the underfunding of UNRWA remains deeply concerning” and while she welcomed “generous contributions” from new and recurring donors “more steps must be taken towards a sufficient, predictable and sustainable funding for the agency, including by broadening the donor base.”

    Today’s meeting emphasized UNRWA’s indispensable and irreplaceable role in the lives of Palestinian refugees, particularly in Gaza, and seeked to explore ways to bolster political and financial support for the agency.

    https://www.youtube.com/watch?v=0d6hwXw-0Wk

    MIL OSI Video –

  • MIL-OSI USA: NEWS RELEASE: RESCUE: HI-SURF TV SERIES RIDES HIGH RATINGS WAVE, TAPS EXCLUSIVELY HAWAI‘I HIRES FOR SPECIALIZED WATER UNIT

    Source: US State of Hawaii

    NEWS RELEASE: RESCUE: HI-SURF TV SERIES RIDES HIGH RATINGS WAVE, TAPS EXCLUSIVELY HAWAI‘I HIRES FOR SPECIALIZED WATER UNIT

    Posted on Sep 26, 2024 in Latest Department News, Newsroom

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

     CREATIVE INDUSTRIES DIVISION

    JOSH GREEN, M.D.
    GOVERNOR

    JAMES KUNANE TOKIOKA
     DIRECTOR

    GEORJA SKINNER

    CHIEF OFFICER, CREATIVE INDUSTRIES DIVISION

    FOR IMMEDIATE RELEASE

    September 26, 2024

    RESCUE: HI-SURF TV SERIES RIDES HIGH RATINGS WAVE, TAPS EXCLUSIVELY HAWAI‘I HIRES FOR SPECIALIZED WATER UNIT

    Local talent tapped for producing and crew positions on new lifeguard drama from John Wells Productions, Warner Bros. Television and FOX Entertainment

    HONOLULU – Hawai‘i-based television series Rescue: HI-Surf is TV’s highest rated fall drama to debut in six years, with its September 22 premiere on FOX television network reaching 4.7 million viewers per Nielsen’s fast national ratings. The John Wells Productions, Warner Bros. Television, and FOX Entertainment co-production hired a local Hawai‘i producer and sourced the vast majority of the crew from Hawai‘i, including 100% of the water unit hires for the series. Rescue: HI-Surf continues now in its regular Monday time slot, airing in Hawai‘i at 8 p.m. on FOX affiliate KHON.

    Sweeping audiences into the lives of lifeguards patrolling the North Shore of O‘ahu, Rescue: HI-Surf “delivers just what its title promises” (Robert Lloyd, Los Angeles Times) with a pulse-pounding drama from executive producer John Wells (The West Wing), who also directed the first two episodes, and Matt Kester, creator, executive producer and showrunner. As a Hawai‘iocean water-centric show, the production retained globally renowned lifeguard, surfer and risk management specialist Brian Keaulana as its Rescue: HI-Surf producer and stunt coordinator. Keaulana, who pioneered using jet skis as safety and rescue watercraft and developed the BWRAG (Big Wave Risk Assessment Group) system, has pulled together a specialized water unit for the series that consists entirely of local hires. Kester, who grew up and lives on the North Shore of O‘ahu, also brings a deep sense of community to a series inspired by the water men and women of Hawai‘i.

    “Rescue: HI-Surf is a first-of-its-kind series on so many levels, thanks to the vision of its award-winning producers, writers and studio partners, and the talents of our film and creative industries workforce here in Hawai‘i,” said Department of Business, Economic Development and Tourism (DBEDT) Director James Kunane Tokioka. “This compelling character drama offers a tremendous platform to recognize and honor the daily bravery of our lifeguard professionals while generating dynamic opportunities for our local production workforce and our creative economy.”

    Starring Robbie Magasiva, Arielle Kebbel, Adam Demos, Kekoa Scott Kekumano, Zoe Cipres, and Alex Aiono, Rescue: HI-Surf dives into the personal and professional worlds of dedicated first responders, as the characters navigate the often life-threatening conditions of one of the world’s most famous stretches of coastline. The vast majority of the series is shot outdoors on location on O‘ahu for an authentic, immersive viewer experience.

    “The production’s intention from the beginning was to hire as many of its crew and talent locally. When you have a series that is rooted in the fabric of Hawai‘i’s North Shore lifeguards, viewers will experience the world of these everyday heroes. Rescue: HI-Surf is a series we hope gets picked up for a second season and beyond. It takes a village and we applaud the work of the county and state film offices and our state and county agencies for their ongoing support to make it possible for this series to be made where it is set – Hawai‘i,” said DBEDT Creative Industries Division Chief Officer Georja Skinner.

    A special episode of Rescue: HI-Surf will also air on February 9, 2025 after FOX Sports’ presentation of Super Bowl LIX, maximizing the exposure for Hawai‘i from this coveted slot to bring scores of television audiences nationwide into the heavy-water action.

    About Department of Business, Economic Development and Tourism (DBEDT)

    DBEDT is Hawai‘i’s resource center for economic and statistical data, business development opportunities, energy and conservation information, as well as foreign trade advantages. DBEDT’s mission is to achieve a Hawai‘i economy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all Hawai‘i’s citizens. Through its attached agencies, the department fosters planned community development, creates affordable workforce housing units in high-quality living environments and promotes innovation sector job growth.

    About Creative Industries Division (CID)

    CID, a division within DBEDT, is the state’s lead agency dedicated to advocating for and accelerating the growth of Hawai‘i’s creative economy. Through initiatives, program development and strategic partnerships, the division and its branches implement activities to expand the business development, global export and investment capacity of Hawai‘i’s arts, culture, music, film, literary, publishing, digital and new media industries. As a major branch of CID, the Hawai‘i Film Office (HFO) was established as the one-stop central coordinator for film and photographic use of state-administered parks, beaches, highways, and facilities and is committed to developing Hawai‘i’s film industry, which provides desirable jobs for residents, as well as opportunities to build the creative and technical skillsets of the local workforce.

    # # #

     

    Media Contacts:

    Laci Goshi

    Department of Business, Economic Development and Tourism

    808-518-5480

    [email protected]

    Georja Skinner

    Chief Officer, Creative Industries Division

    Department of Business, Economic Development and Tourism

    808-586-2590

    [email protected]

    Susan Wright

    Becker Communications

    808-799-4293

    [email protected]

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom signs California Legislative Black Caucus priority bills, including a formal, bipartisan apology for the state’s role in slavery

    Source: US State of California 2

    Sep 26, 2024

    SACRAMENTO – Joined by members of the California Legislative Black Caucus (CLBC), Governor Gavin Newsom signed a series of bills to address the legacy of racial discrimination in the state and advance a host of issues important to Black Californians. As requested by AB 3089 (Jones-Sawyer), which passed the Legislature with bipartisan and unanimous support, the Governor also signed an accompanying formal apology for California’s historical role in the perpetuation of slavery and its enduring legacy.

     

    Governor Newsom signs California Legislative Black Caucus priority bills and bipartisan apology for the state’s role in slavery

    “As we confront the lasting legacy of slavery, I’m profoundly grateful for the efforts put forward by Chair Wilson and the members of the California Legislative Black Caucus. The State of California accepts responsibility for the role we played in promoting, facilitating, and permitting the institution of slavery, as well as its enduring legacy of persistent racial disparities. Building on decades of work, California is now taking another important step forward in recognizing the grave injustices of the past – and making amends for the harms caused.” 

    Governor Gavin Newsom

    This signing event marks a significant milestone in California’s ongoing efforts to promote healing and advance justice. The legislation includes critical measures that tackle a wide range of issues affecting Black Californians, from criminal justice reforms to civil rights and education.

    “As Chair of the California Legislative Black Caucus, I am deeply grateful to Governor Newsom for signing this critical set of Reparations Bills, which have been key priorities for our Caucus. These bills lay a meaningful foundation to address the historic injustices faced by Black Californians, and I want to extend my sincere thanks to my fellow Caucus members and the advocacy leaders who have championed this effort. This is a multi-year effort, and I look forward to continuing our partnership with the Governor on this important work in the years to come as we push toward lasting justice and equity,” said Assemblymember Lori D. Wilson (D-Suisun City).

    “This is a monumental achievement born from a two-year academic study of the losses suffered by Black Americans in California due to systemic bigotry and racism. Healing can only begin with an apology. The State of California acknowledges its past actions and is taking this bold step to correct them, recognizing its role in hindering the pursuit of life, liberty, and happiness for Black individuals through racially motivated punitive laws,” said Assemblymember Reginald Byron Jones-Sawyer, Sr. (D-Los Angeles), who served on the California Reparations Task Force.

    Overview of key bills 

    Addressing food & medical deserts: SB 1089 by Senator Lola Smallwood-Cuevas (D-Los Angeles) requires grocery stores and pharmacies to provide advance notice to the community and workers before closures, helping to address food deserts that disproportionately affect communities of color.

    Strengthening protections against discrimination: AB 1815 by Assemblymember Dr. Akilah Weber (D-San Diego) clarifies that “race” includes traits associated with race, such as hair texture and protective hairstyles, providing stronger protections against discrimination.

    Combating maternal health disparities: AB 2319 by Assemblymember Lori Wilson (D-Suisun City) requires hospitals to report compliance information and authorizes the Attorney General to enforce against hospitals that are out of compliance with existing law requiring perinatal health care workers to complete anti-bias trainings. 

    Increasing access to literature in prisons: AB 1986 by Assemblymember Isaac Bryan (D-Los Angeles) mandates the Office of the Inspector General to post and review the list of banned books in state prisons, promoting access to literature for incarcerated individuals.

    Formally apologizing for slavery: AB 3089 by Assemblymember Reginald Byron Jones-Sawyer, Sr. (D-Los Angeles) affirms California’s recognition of the harms caused by chattel slavery and issues a formal apology, which will be memorialized with a plaque in the State Capitol.

    Addressing employment discrimination, preschool access, & college and career financial aid: Additional CLBC measures the Governor signed into law will address employment discrimination, provide more opportunities for child care providers to become CA State Preschool contractors, increase college and career financial support for foster youth, and increase foster youth financial support. Additionally, with SB 1348 (Bradford), the state is establishing the designation of “California Black-Serving Institutions,” to recognize higher education campuses that excel in providing resources and support to Black students.

    Read a copy of the apology

    Once signed by representatives from all branches of government, California will join other states, including Florida, Virginia, Maryland, North Carolina, Alabama, New Jersey, and Iowa, in issuing formal apologies for their role in slavery, acknowledging historical injustices and the ongoing impacts of racial discrimination.

    Building on longstanding efforts 
    Since taking office, Governor Newsom has taken significant steps to address racial disparities in California. He expanded health care access and affordability, food access, child care, and advanced financial relief programs. The Governor has introduced new statewide programs, including universal transitional kindergarten and college and career savings accounts for all children, issued an executive order mandating state agencies to incorporate equity analysis into their policies, made a historic investment in school equity through the Equity Multiplier, strengthened the California Civil Rights Department, taken action to address maternal health disparities and improve reproductive and maternal health, and created the nation’s first “Ebony Alert” system for missing Black children and young women. 

    Taking aim at structural racism and systemic injustice, the Governor issued a moratorium on the death penalty, which is unfairly applied to people of color, and has enacted critical reforms to create a fairer criminal justice system. These include one of the strongest use-of-force laws in the country, ending the use of the carotid restraint, increasing transparency for peace officer misconduct records, and the closure of the Division of Juvenile Justice and creation of the Office of Youth and Community Restoration.

    The Governor previously signed legislation to enable the return of Bruce’s Beach – a property unjustly taken nearly a century ago – to the descendants of its Black owners, established California’s first Racial Equity Commission and a new process for evaluating equity in budget proposals, and signed legislation to allow student athletes to benefit financially from their name, image and likeness, making California the first state to do so and prompting a nationwide change in NCAA rules. In 2020, the Governor signed bipartisan legislation into law establishing a Reparations Task Force to study and develop proposals aimed at rectifying historical injustices faced by Black Californians whose recommendations are reflected in many of these new laws. 

    The following measures have been signed into law:

    • AB 51 by Assemblymember Mia Bonta (D-Oakland) – Early childcare and education: California state preschool program.
    • AB 1815 by Assemblymember Dr. Akilah Weber (D-San Diego) – Discrimination: race: hairstyles.
    • AB 1986 by Assemblymember Isaac Bryan (D-Los Angeles) – State prisons: banned books.
    • AB 2319 by Assemblymember Lori Wilson (D-Suisun City) – California Dignity in Pregnancy and Childbirth Act.
    • AB 2508 by Assemblymember Kevin McCarty (D-Sacramento) – Student financial aid: California Kids Investment and Development Savings (KIDS) Program: foster youth.
    • AB 2906 by Assemblymember Isaac Bryan (D-Los Angeles) – Foster care payments.
    • AB 3089 by Assemblymember Reginald Byron Jones-Sawyer, Sr. (D-Los Angeles) – Chattel slavery: formal apology.
    • SB 1089 by Senator Lola Smallwood-Cuevas (D-Los Angeles) – Food and prescription access: grocery and pharmacy closures.
    • SB 1340 by Senator Lola Smallwood-Cuevas (D-Los Angeles) – Discrimination.
    • SB 1348 by Senator Steven Bradford (D-Gardena) – Postsecondary education: Designation of California Black-Serving Institutions.  

    The Governor earlier this year signed:

    • AB 1984 by Assemblymember Dr. Akilah Weber (D-San Diego) – Pupil discipline: transfer reporting.
    • AB 3131 by Assemblymember Kevin McCarty (D-Sacramento) – Strong Workforce Program: applicants receiving equity multiplier funding.

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