Category: Europe

  • MIL-OSI United Kingdom: Council seeks local views to improve South Quay Shed

    Source: City of Canterbury

    Residents, businesses and visitors are being asked to have their say on how to improve South Quay Shed in Whitstable Harbour.

    An online survey has been launched this week by Canterbury Council to find out why people visit the popular destination and what they think of the current food and retail offer, atmosphere, events and pricing.

    It will also ask about improvements to the space and how it can become more attractive to residents and visitors alike.

    The results of the short questionnaire will help inform future plans for the Shed which opened in 2022 as a community event, retail and leisure space with affordable rental units supporting local, creative start-up businesses and food outlets.

    Since opening, it has become home to a wide selection of local businesses and hit national headlines when the Shed’s HatsHats Coffee launched a pop-up shop run by pupils with profound and multiple learning disabilities from St Nicholas School in Canterbury.

    Cllr Chris Cornell, Chair of the Whitstable Harbour Board and Cabinet Member for Economic Development and Inclusion and Coastal Towns Champion, said: “We are committed to making sure the harbour remains a vibrant and thriving home for our communities – and South Quay Shed has a vital role in supporting these ambitions.

    “After three successful seasons, we want to know what people think about it. Do they visit it often? If not, why not? And how can we make it better?”

    The survey follows a consultation by Whitstable Harbour Board and the council about their strategic plans for the harbour over the next decade.

    Feedback from this consultation, which ended in January this year, showed huge support for a commercial working harbour and development plans focused on a reduced carbon footprint and increased accessibility.

    Complete the survey online by Friday 29 November 2024.

    Published: 29 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Highway repairs and improvements planned for Western Road

    Source: City of Leicester

    TRAFFIC restrictions will be in place on a busy residential road in Leicester’s West End from next week, while extensive resurfacing and other improvements are carried out.

    Leicester City Council will carry out essential maintenance work on Western Road from Sunday 3 November.

    Footpaths will be improved to remove dropped kerbs that cut across the pavement and do not now provide access to a parking or loading area. Work to improve carriageway drainage in Western Road will also be carried out.

    Changes will also be made to the crossroads at the junction of Western Road and Briton Street, where adjustments will be made to give priority to vehicles and cycles on Briton Street.

    Resurfacing of the main carriageway on Western Road, between its junctions with Braunstone Gate and Briton Street, will be carried out in Spring 2025.

    Initial works are expected to be complete by late January, and will be carried out in phases on short sections of the road to help minimise disruption. Parking restrictions and rolling road closures will be required, with well signposted diversions in place. Access to houses, shops and businesses will be maintained. Work will be suspended during the Christmas holiday period with full access reinstated.

    Cllr Geoff Whittle, assistant city mayor for environment and transport, said: “The city’s road network needs regular maintenance and repairs to ensure it can cope with modern demands.

    “These latest works will see major maintenance and improvements made to a busy residential street and important local route, which will benefit of everyone who uses it.

    “For that work to take place, parts of the road will need to be closed temporarily but diversions will be clearly signposted and disruption will be kept to a minimum wherever possible.”

    The scheme is expected to cost about £700,000 and will be funded as part of the Connecting Leicester programme which is supported by the Department for Transport’s Transforming Cities Fund.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: New funding aims to boost business innovation and deliver positive change for local communities

    Source: City of Leeds

    New funding is on offer for projects that will help local business innovators make a positive difference to life in Leeds.

    Leeds City Council’s Innovation@Leeds programme has up to £175,000 available for distribution in the form of individual grants ranging from £15,000 to £25,000.

    The grants are intended to fund knowledge-sharing projects that will – through the provision of advice, guidance, mentoring or training – encourage world-class innovative thinking and activity by the city’s businesses.

    This in turn, it is hoped, will enable them to deliver cutting-edge products, processes and services that make Leeds a healthier, greener and more inclusive place to live.

    The exact nature of the projects will depend on the proposals submitted by grant applicants, who are being asked to show how their idea can achieve at least one of three main aims. These are:

    • Boosting the capabilities of innovative businesses already operating in fields such as artificial intelligence or financial, health and legal technology;
    • Supporting people from diverse backgrounds who want to launch their own innovation-led businesses;
    • Raising the profile of Leeds as a centre for innovation and showcasing its strengths to outside investors.

    To be considered for a grant to set up and run a project, applicants must be a Leeds-registered small business or microbusiness.

    They should also be able to demonstrate a proven track record in providing development support for innovation-led businesses.

    Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

    “We know Leeds is a city bursting with ideas and inspiration, and we are keen to do whatever we can to ensure local residents realise their full potential.

    “We’re also committed to helping innovative businesses and aspiring entrepreneurs find solutions and ways of working that will have a positive impact on our communities.

    “The new grants will support both of those ambitions – and underline the power of collaboration – by giving innovators access to top-quality knowledge-sharing opportunities.

    “I’d encourage as many eligible small businesses and microbusinesses as possible to apply for a grant, and look forward to seeing the results achieved by the successful projects.”

    Innovation@Leeds was launched by the council in 2021 to ensure that people from all backgrounds have the means to make the most of their talents in fields such as digital and other emerging technologies.

    The programme’s latest grants are being funded through central government’s UK Shared Prosperity Fund, which is administered locally by the West Yorkshire Combined Authority.

    The award of the grants will align with a city-wide vision – co-created by the council with key local partners – for stimulating innovation in a way that has a positive social impact.

    One crucial aspect of that vision is the further development and transformation of the Leeds Innovation Arc, an area on the west side of the city centre that is home to globally-renowned educational, health and cultural establishments as well as an array of start-ups, scale-ups and major businesses.

    For more information about the Innovation@Leeds grants, click here. Applications can be made until November 21, while the projects that secure funding must be delivered by March 28 next year.

    ENDS

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Kirkton Community Centre Update

    Source: Scotland – City of Dundee

    A new community centre run by local people is set to be established in the Kirkton area of Dundee. 

    A partnership between a local charity – Kirkton Community Centre SCIO – and the city council has been agreed this week to pave the way for the purpose-built facility. 

    Following the closure and demolition of the current ageing Kirkton Community Centre, the charity intends to build and run a new centre on the same site. 

    The activities and services being delivered from that location would complement the city council’s Community Hub model for the area, which will be based at the nearby Baldragon and St Paul’s academies. 

    Previously agreed by councillors, the Hub model will see community activities provided at the two local secondary schools, with the library located at St Paul’s Academy. 

    Melanie Kiyani, Treasurer of Kirkton Community Centre SCIO, said: “Our members are residents of Kirkton, and we have ambitious plans for a new purpose-built community centre which will be run and owned by the community of Kirkton for the community of Kirkton. 

    “We are working in partnership with Dundee City Council to realise our ambitions. The new community centre will complement the Kirkton Community Hub model by providing space during the day where people can access a fully operational café, retail units, daily activities and support.  

    “The main aim of the new community centre will be to create community wealth.  Funds raised through the community centre and other initiatives will go straight back into community projects for Kirkton as we are a not-for-profit organisation.” 

    The charity is currently raising funds to build the new facility, which would be community owned and run. 

    Leader of Dundee City Council Councillor Mark Flynn said: “I would like to congratulate all those behind the Kirkton Community Centre SCIO for their efforts in bringing their plans to this stage. 

    “The council will be assisting the group through demolition of the current community centre and an arrangement going forward about the site. 

    “They are planning to deliver a number of activities that would complement the Community Hub and would provide a range of benefits for local people. 

    “I am also pleased that they continue to play their part in the working group tasked with delivering our new Community Hub vision in the coming months. 

    “Between the charity’s community provision and our exciting Hub plans, Kirkton residents can look forward to having access to excellent community spaces and activities day and night, all year round.” 

    The charity said that the new community centre will provide employment and volunteering opportunities for local people and a space “where enterprise and innovation can flourish.” 

    Melanie continued: “Internally, the new community centre will provide a large rentable multi-purpose space for social events and community groups to use. 

    “There will be a rentable sensory room, a large low-cost community café open five days a week. There will be two retail units available for local people to rent in order to run local businesses. 

    “The building will also contain a community post office and parcel pick up / drop off point. The building will be fully accessible and contain a changing places toilet. It will also have full Wi-Fi coverage.  

    “Externally the community centre will include a car jet wash, community washing machines and electric charging points along with a large community garden and orchard. 

    “There will also be outdoor seating accessible via the community café and the Strathmartine Community Food Larder will also run from a cabin based in the outdoor area.”

    More information about the charity’s plans can be found on their website: www.kirktoncommunitycentre.co.uk 

     

    MIL OSI United Kingdom

  • MIL-OSI Russia: Yuri Trutnev: The Russian President’s order to implement master plans will be fulfilled

    Translation. Region: Russian Federation –

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

    Yuri Trutnev held a meeting on the implementation of long-term plans for the integrated development of cities in the Amur Region

    Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev held a meeting on the implementation of long-term plans for the integrated development of cities in the Amur Region.

    “In accordance with the instructions of the President of the Russian Federation Vladimir Vladimirovich Putin, a large-scale program for the renovation of cities has begun in the Far East and the Arctic. Our task is to make them as comfortable as possible for people to live in. This is a big job with a large amount of necessary funding. I repeat once again: it has been mobilized throughout the Far East and the Arctic. We will constantly keep it under control. Today we will hear how the work is going in the Amur Region,” Yuri Trutnev opened the meeting.

    “In the Amur Region, long-term comprehensive plans have been approved for four cities – Blagoveshchensk, Tynda, Svobodny and Belogorsk, a draft master plan has been developed for the closed administrative-territorial entity Tsiolkovsky, and a general plan for the agglomeration of Svobodny and Tsiolkovsky is at an advanced stage of readiness. Key projects are already being implemented in each of them. A regional headquarters has been created. It includes the regional government, heads of municipalities, and representatives of development institutions. The headquarters meets weekly. Work is ongoing in the project management information system under the supervision of the Ministry for the Development of the Russian Far East and the Far East Development Committee,” said Vasily Orlov, Governor of the Amur Region.

    A number of master plan objects will be built using funding from a single presidential subsidy provided by the Ministry for the Development of the Russian Far East and special treasury loans.

    The Blagoveshchensk master plan includes 54 events for the development of municipal, social, transport and tourism infrastructure. The master plan includes such key events as the construction of the Blagoveshchensk-Heihe cross-border cableway, the modernization of the Blagoveshchensk International Airport (Ignatievo), the construction of the large city center “Tribuna Hall”, the construction of a regional blood transfusion station and a children’s art school, the creation of an international university campus and many others.

    In the first year of implementing the long-term plan for comprehensive socio-economic development, several areas became central for the city. Among them are the creation of spaces for comfortable living, self-realization and education of citizens, platforms for Russian-Chinese business cooperation and other projects. In total, 13 events are being implemented this year, six of which will be completed by the end of the year.

    One of the tasks included in the Blagoveshchensk master plan was to unite the city with a system of green spaces. Citizens will get a new park – Lomonosovsky. The second space, where work started in 2024, was the Valery Priyomykhov Square. The famous actor, film director and screenwriter was born in the Amur Region. The area adjacent to the site of the installation of the bust of Valery Mikhailovich will be landscaped in a cinema theme. The Katushka cafe, an open-air cinema, and the Montazhnaya coworking area will open in the square. The entire facility will be completed by October 2025. Along with the square, part of 50 Let Oktyabrya Street will be landscaped. It will connect the Priyomykhov Square with another public space – the Babochka Square.

    A major renovation of the city park of culture and recreation is planned in Blagoveshchensk. The concept of the park has already been formed, the territory will be divided into two parts. The first is a green zone with places for quiet rest, themed areas and equipment for children of different ages. The second zone will be an area with attractions and catering points. The concept formed the basis of the technical specifications for the design and estimate documentation, which will be developed by the end of 2024.

    Within the framework of the master plan, a large project of comprehensive reconstruction of the infrastructure of the Blagoveshchensk International Airport is being implemented. Work on the creation of the city center “Tribuna Hall” has reached the final stage. The complex is conceived as a space with a landscape park and a cultural center with an observation deck. Improvement of courtyard areas is underway.

    The master plan for Belogorsk in Amur positions the city as an industrial and logistics center with a developed service economy. At the request of residents, the strategy emphasizes the development of social and transport infrastructure, renovation of microdistricts, modernization of the city center and the coastal area. The construction of a water supply system from water intake wells to the Yuzhny microdistrict and the overhaul of the children’s art school have been completed. The construction of a gas boiler house and a supply gas pipeline, which started in 2022, is in the final stage. Design and estimate documentation is being developed for two important projects – the creation of treatment facilities in the Transportny district of the city and the construction of a central water intake. Work has begun on the construction of a sports and recreation complex with a skating rink in the Yuzhny microdistrict.

    The development plan for the BAM capital Tynda includes 34 events. Within the framework of the master plan, 12 events have already been completed, the key ones being the overhaul of the Tynda Central Library, the reconstruction of the BAM History Museum, the renovation of the drama theater, as well as the renovation and illumination of the facades of city buildings, the improvement of 13 courtyard areas and the Bagulnik Park.

    According to the master plan, several areas have become priorities for the city: gasification, repair of social facilities, improvement of transport infrastructure and other projects. The city is reconstructing and modernizing heat supply facilities with the replacement of other types of fuel with natural gas. According to the plan, three new gas boiler houses will be built in Tynda; contracts for the preparation of documentation for them have already been concluded. In addition, the central boiler house of the city awaits reconstruction with the transfer to gas. The capital repairs of the city cultural center “Rus” and the public bathhouse are nearing completion. The street and road network is being brought up to standard and 32 new bus stops are being installed.

    Within the framework of the master plan of the city of Svobodny, 22 events will be implemented. By 2030, the city will become the center of the gas chemical cluster with a high level of urban environment and services. This year, work has begun on five events, two of which should be completed by the end of the year.

    The renovation of Svobodny is connected with the renewal of social infrastructure. In the Yuzhny microdistrict, a school for 528 children is being prepared for construction. The design and estimate documentation for the facility is already ready. In the Mikhailo-Chesnokovsky microdistrict, a building of a physical education and health complex with a universal games hall is being built. The development of design documentation for a children’s art school for 650 children in the Central District has begun. The construction of a new registry office building has been completed; its official opening took place in October. The improvement of the urban environment is underway. In November 2024, the improvement of the city park on Upravlencheskaya Street will be completed. The construction of a new Alekseevsky microdistrict for employees of the Amur Gas Processing Plant continues. In addition to residential buildings, communal and social infrastructure facilities are being built in the microdistrict: a school, a kindergarten, a clinic, a department store, a sports complex, a cultural and leisure center, an apart-hotel, multi-level parking lots, and engineering infrastructure facilities. In September of this year, a school for 900 students opened in the Alekseevsky microdistrict.

    An important point in the development of Svobodny is improving the quality of the city’s engineering infrastructure. A large amount of work is being carried out within the framework of this area of the master plan. At the moment, design and estimate documentation is being developed for the reconstruction of treatment facilities in the Dubovsky, Surazhevsky and Zalineyny microdistricts, as well as the reconstruction of the main engineering networks of heat, water supply and sanitation. A large amount of work is associated with the capital repairs of the existing and the construction of a new street and road network and the reconstruction of the road bridge across the Klyuchevaya River along Zagorodnaya Street.

    “Work on implementing master plans has begun. Stadiums and libraries are being restored in the Amur Region. A lot of work is being done to provide master plans with funding. It is necessary for the events to be reflected in state programs and national projects. This work is underway. We will do everything to fulfill the President’s instructions so that people receive comfortable living conditions,” Yuri Trutnev summed up the meeting.

    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.

    MIL OSI Russia News

  • MIL-OSI Security: Serious assault and verbal abuse in Homerton

    Source: United Kingdom London Metropolitan Police

    Detectives are appealing for help to identify a woman in connection with a hate crime where a man was assaulted in Homerton.

    The victim was walking along Homerton High Street at about 05:15hrs on Sunday, 27 October when he was verbally abused before being seriously assaulted with a glass bottle by an unknown woman. She then left the scene.

    The victim presented himself at hospital with serious injuries to his face.

    Enquiries remain ongoing and no arrests have been made at this stage.

    At this early stage in the investigation, the assault is being treated as a hate crime.

    Detectives are now appealing for the public’s help and have today released an image of a woman who they would like to speak with in connection with the investigation.

    If you recognise her or have any information which could assist the investigation, please contact us by calling 101 or message @MetCC on X and quote CAD 1890/27Oct.

    You can also provide information anonymously to the independent charity Crimestoppers on 0800 555 111 or visit crimestoppers-uk.org.

    MIL Security OSI

  • MIL-OSI United Kingdom: Worcestershire brook pollution brings prosecution of 2 companies

    Source: United Kingdom – Executive Government & Departments

    The companies have been ordered to pay fines and costs in excess of £90,000 for causing trade effluent to pollute 3 kilometres of a Worcestershire brook.

    • Fines and costs totalling over £90,000 imposed by court
    • Human error and corporate failings caused 3 kilometres of brook to be impacted
    • Case heard at Worcester Crown Court on 24 October 2024

    A prosecution by the Environment Agency has resulted in the conviction of 2 companies for causing trade effluent to pollute 3 kilometres of a Worcestershire brook. The companies have been ordered to pay fines and costs in excess of £90,000.

    At Worcester Crown Court on 24 October 2024, Elisabeth The Chef (ETC) and Civil Environmental Project Services Ltd (CEPS) were sentenced for causing the discharge into the Laugherne Brook in September 2017.

    ETC, a food manufacturer operating in Lower Broadheath, was fined £18,000 and ordered to pay prosecution costs of £52,000. CEPS, an engineering company in Bidford-upon-Avon was fined £4,000 and ordered to pay prosecution costs of £20,000.

    The discharge

    The Court was told that the discharge caused the deaths of a significant number of fish and that it followed a series of human and corporate failings.

    The manufacturing process at ETC produces around 40,000 gallons per day of trade effluent and human sewage.

    CEPS provided quarterly maintenance, and a telemetry monitoring service, for a pumping station at ETC’s premises. It was designed to pump trade effluent and sewage from the works to a foul sewer.

    On 1 September 2017, an employee of CEPS attended the ETC site’s pumping station to conduct routine maintenance.  Following completion of the maintenance work, the employee failed to switch the pumps within the pumping station back on.

    As a result, trade effluent built up in the pump well rather than being sent to the foul sewer.  This caused an overflow of trade effluent from the pumping station into a containment lagoon.

    The containment lagoon filled up and then discharged the pollutant through a broken sluice gate and into a ditch running alongside the factory.

    This pollution discharge flowed from the ditch into the Laugherne Brook, flowing towards Worcester and the River Teme in the south of the city.

    The situation was compounded by the same CEPS employee reporting to ETC on 4 September 2017, whilst the pollution was going on, stating that it was ‘working ok’.

    The same employee had also attended the ETC site in April 2017 and erroneously fitted an alarm too high within the pumpwell. This meant that the alarm did not function properly and consequently ETC was not notified that the pumping station was not working.

    Environment Agency response to the incident

    On 5 September 2017, members of the public contacted the Environment Agency to report that the Laugherne Brook was cloudy and dead fish were on the surface. 

    The Environment Agency managed the response to the incident and identified the source of the pollution and ETC then took action to stop the pollution.

    Officers carried out water quality testing and found that there had been a severe short-term impact covering some 3 kilometres of the Laugherne Brook.

    Some 86 dead fish were counted in the accessible sections of the Brook, including brown trout, bullhead, dace, and gudgeon.

    Hundreds of fish were estimated to have been killed as a result of the incident.

    ETC, a company with previous convictions for environmental offending, initially blamed CEPS for the incident.

    But subsequently accepted that it had failed to put in checks and procedures to ensure its on-site pumping station was working correctly.

    The company also accepted that it had failed to conduct day-to-day physical checks of its pumping station and containment lagoon.

    CEPS was vicariously liable for the actions of its employee. It had failed to put in place appropriate checks and monitoring to instruct its employee to ensure that work was done competently.

    The sentence

    In sentencing, the Court remarked that the state of rivers were ‘at the front of the public consciousness’ and that this was a ‘serious breach of law’.

    In mitigation, the Court remarked that both companies had undertaken investigations and taken all remedial action to prevent a recurrence. 

    The Court noted that ETC had been under different ownership when the pollution event occurred. But the new owners were taking the company’s environmental responsibilities seriously. 

    The Court also noted that there have been no further pollution events at the site since 2017.

    CEPS admitted responsibility for the incident at an early stage.

    The Court noted that the company’s engagement and co-operation with the Environment Agency’s investigation was ‘impressive.’ It had no previous convictions of any kind.

    Kelly Horsley, an Environment Officer for the West Midlands Environment Agency, said:

    We welcome this sentence as this was a serious pollution which caused considerable disruption besides fish deaths. 

    The Environment Agency will pursue any company that fails to uphold the law or protect nature and will continue to press for the strongest possible penalties. 

    Failure to comply with these legal requirements is a serious offence that can damage the environment and harm human health.    

     If anyone has environmental concerns they should call our 24/7 hotline on 0800 80 70 60 or Crimestoppers anonymously and in confidence on 0800 555 111. 

    The Charge

    Between 1 September 2017 and 5 September 2017, (1) Elisabeth the Chef Ltd and (2) Civil and Environmental Project Services Ltd caused a water discharge activity.

    This was namely a discharge of polluting trade effluent into a ditch adjacent to and joining the Laugherne Brook, Worcester.

    This was not authorised by an environmental permit, contrary to Regulation 38(1)(a) and Regulation 12(1)(b) of the Environmental Permitting (England and Wales) Regulations 2016.

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Russia: “I would be interested in talking to Chinese farmers”

    Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Veronika Smirnova studies the Chinese approach to global food security and spent a year at the Renmin University of China in Beijing. In an interview with the HSE Young Scientists project, she spoke about Xi Jinping’s flagship initiatives, her interest in FAO’s John Boyd Orr, and her love of malatan and xiao long bao.

    How I got started in science

    It wasn’t a strategic plan. Science chose me, like many future scientists who enjoyed studying many subjects at school. Surprisingly, math and physics were the easiest for me, but I ended up choosing the humanities.

    Around the 9th grade, I thought about what direction I would like to choose in the future, and the topic of international relations seemed interesting to me. At that time, I was not yet interested in Chinese culture, I only heard in the news that Russian-Chinese relations were developing at a rapid pace. When it was time to choose a second language (internationalists always learn two), I spent a long time choosing between German and French. But then something sank in my heart, and I began to study Chinese, not yet knowing what awaited me in the future. This is how my love for China began, I gradually began to take an interest in culture and politics.

    In my undergraduate studies at Nizhny Novgorod State University, we had amazing courses on analytics for government bodies. I really liked this subject, and I became interested in working in this field. When I went to the master’s program at HSE, I saw that CCEMI, where I now work, was recruiting interns, and I applied. That’s how my path in science began. Then I went to graduate school and continued scientific research.

    What am I studying?

    China’s participation in the global food security system. Interest in this topic did not develop immediately. In my bachelor’s degree, I studied more about culture and soft power. But in my master’s degree, I thought: I would like to study something more practice-oriented, which could contribute to the improvement of Russian-Chinese relations. The food topic found me itself.

    The HSE education system involves earning several credits for projects during the course of study. In my Master’s program, I chose a project that was conducted by the School of Oriental Studies together with Azbuka Vkusa. Against the backdrop of Covid, we studied how retail is developing in Asian countries. I was doing research on China. And then one of the teachers said that there was an opportunity to do an internship at the UN.

    At first I wasn’t interested, but my friend, who had this experience, explained that it was a very interesting track where you act as a manager of an educational course.

    I applied for the next intake and was accepted to this project. The internship was online. I helped organize a course for UNITAR (United Nations Institute for Training and Research) and FAO (FAO, Food and Agriculture Organization of the United Nations). The course was designed for officials from the post-Soviet space on the topic of agriculture in international trade agreements.

    I thought it was an interesting topic because China and Russia were developing relations in the agricultural sector, so I decided to take it up more seriously and continued to study it in graduate school.

    What was my master’s thesis about?

    I studied Chinese concepts in global governance. This topic is close to my PhD thesis, where I examine how China promotes its approaches to food security co-operation internationally.

    In my master’s degree, I was interested to see how China’s policy ambitions are growing in practical terms, what approaches it offers – whether it is trying to take the place of the United States or is offering something unique.

    I decided to look at the theoretical approaches of Chinese scholars and compare them with the statements of Chinese leaders Hu Jintao and Xi Jinping. And I saw that, in principle, the same thing happened to the concept of global governance developed in the West as to many other Western concepts in China – from complete rejection to active participation.

    At first, China came out with sharp criticism, claiming that the concept was aimed at Western countries controlling global development. Then with interest – how to apply it with Chinese specifics. Then, gradual testing began in specific areas. For example, Chinese scientists separately studied issues of sovereignty, participation of non-profit organizations. And already at the next stage, they proposed their own approaches.

    At the same time, Chinese leader Xi Jinping put forward the concept of a Community of Shared Future for Humanity and the flagship Belt and Road Initiative, and Chinese scholars were studying how to develop global governance together with other countries through these projects.

    What is the Community of Shared Destiny for Humanity?

    Xi Jinping put forward this concept in 2013 — by the way, he first spoke about it in Moscow, at MGIMO. At the first stage, it was quite simple, it could be characterized by his words: “In me there is you, in you there is me.” The world is interconnected, and we need to manage things together, because if one participant starts having problems (as we saw during the pandemic), they arise for others as well.

    A more correct translation of the name is “the concept of a common destiny.” “A common destiny” implies unification. And China insists that everyone has the right to follow their own path of development, and this community is expressed in the fact that we develop together, but in different ways.

    Why China Believes the World Needs Food Security

    China is primarily interested in ensuring internal security. It relies on the concept of self-sufficiency. This issue is particularly sensitive for it. In the past, periods of famine were associated with political instability.

    During the Cold War, when China suffered famine, the country also faced a food embargo from the United States. And now China believes that “it must hold the rice bowl firmly in its own hands,” as Xi Jinping says.

    But having joined the WTO and participated in world trade, one cannot be completely autonomous. If there are problems in the food security sphere somewhere, it affects everyone. China is interested in maintaining general world stability. It is also developing cooperation in the “south-south” direction. This is cooperation between a developing country and a similar country, where it acts not as a donor, but as a partner, sharing its experience in solving problems.

    In the area of food security, China’s experience is a strong case: the country was able to defeat hunger with very few resources, land and water. Therefore, this is one of the key areas for cooperation with developing countries. China focuses on them, and mainly seeks to develop partnerships with them.

    Russian-Chinese relations

    Our relations are now at the peak of prosperity. During the Cold War, Sinologists had a hard time. Relations were tense, we had different views on what communism should be. The Chinese reacted quite sharply to the debunking of Stalin’s personality cult. We had border conflicts. China then, especially against the backdrop of rapprochement with the United States, diverged even more from the USSR.

    I remember my first academic supervisor in my bachelor’s degree told me that he was criticized in his close circle for studying the language of a country where he would never go, with which we are at odds. But he said that he was right. The prerequisites for normalizing relations began to emerge in the Brezhnev era, later the issues of demarcation and delimitation of the border were resolved, economic relations also developed, and now our relations have become the best.

    What results and achievements I am proud of

    I spent the last year in China, and returned in July. I was accepted to the New Sinology program for postgraduate students. It is designed to develop new approaches to China studies, building connections so that scholars can see their subject up close. I chose Renmin University of China, one of the largest in Beijing. I was able to work on my topic with a Chinese supervisor, Professor Song Wei, who is developing the theoretical framework I used in my work.

    My other achievements are not really in the scientific sphere. Within my center, I am actively involved in the implementation of joint humanitarian projects between Russia and China.

    We organized a Russian-Chinese summer school for students, and we had a project called “China Perspective,” where students from our department met with China experts and learned how to build a career in cooperation with the PRC.

    Basically, my journey of getting to know HSE and CCEIS began with me being a participant in the Russian-Chinese summer school — the 9th intake. And the next time, I was already on the organizing committee. The school was held online because of COVID, but there were many participants, some even joined from Brazil.

    What I dream about

    I am very interested in getting more field experience. For example, going to Chinese villages and talking to farmers. In China, most agricultural products are still produced on small farmsteads.

    Where I was in China

    I traveled a lot around China, visited ten cities: Beijing, Shanghai, Shenzhen, Hangzhou, Suzhou, Xi’an, Luoyang, Tianjin, Chengdu and Chongqing. In Shanghai, colleagues from my center organized a conference of the Valdai Club together with the East China Normal University. I was included in the delegation.

    There was also a trip to a conference in Shenzhen, to MSU-PPI – a joint university of Moscow State University and Beijing Polytechnic University. I already went to other cities with friends, to immerse myself in Chinese culture. A guy from India studied with me on the program, we became friends, he was more advanced in studying Chinese culture, and I went on my first trip with him.

    Science for me is a way of life, a space of connections. You are constantly looking for something to talk about, something to study.

    If I hadn’t become a scientist, I could have become a manager or producer of educational courses in the humanities. I still combine this with my scientific career, but I would have concentrated on it.

    Who would I like to meet?

    For my dissertation, I would like to meet the first FAO Secretary-General, John Boyd Orr, and talk more about his failed initiatives. My research is more in the area of international cooperation, while his research is specifically looking at how certain policies reduce malnutrition in the world.

    I was very inspired by the history of the creation of FAO. Boyd Orr was the first Secretary-General, he stood at its origins. He advocated a comprehensive approach to food security. At that time, food security was considered to be only access to products and their availability. He suggested looking at the problem more broadly and advocated that the newly formed organization should control not only development issues and information collection, but also trade, production, and food delivery.

    For example, during World War II, scientists discovered that if you increase the rations for pregnant women, then infant mortality drops sharply. They made several such discoveries, were inspired, and thought that this new knowledge would allow them to significantly reduce hunger within the organization.

    But due to the onset of the Cold War, due to the importance and criticality of this topic for the world’s major powers, there was not enough space for trust to be created so that a common supranational structure in the form of a UN institution could control all these processes.

    What my typical day looks like

    Now my typical day is loaded with work: the last year of graduate school, finishing my dissertation, going to the pre-defense. So I wake up, have breakfast, go to work and sit here for a long time. I solve work issues, and when I have a free minute, I finish the text of the dissertation.

    What will I do after my defense?

    I will continue working at CCEMI. I think that there will be more time for scientific work. I would like to study the topic of Russian-Chinese agricultural cooperation in more detail. It is also interesting to look at the development of the foodtech sphere in China, startups in this area. I would also try to publish in Chinese journals. They are not taken into account in our systems, which is critical for a postgraduate student, and after the defense this issue will no longer be so acute.

    Do I get burnout?

    I think it was at the beginning, when I didn’t understand how to combine work and study, but here my colleagues helped. We have a friendly atmosphere in the team, everyone supports each other. I adhere to the approach that there are always many interesting projects, but it is important to refuse most of them and concentrate on the most important, otherwise burnout can occur.

    What are my interests besides science?

    I love yoga. It helps me maintain a sports regimen during periods of intense work. I also like digital drawing, sometimes I even do something design-related. At the launch stage of our project “Chinese Perspective”, I made posters for the VKontakte group.

    Where do I recommend starting your acquaintance with China?

    I would recommend looking at VK groups dedicated to China. In our Russian-speaking community, for example, there is a group called “Grey Mocha” that publishes cultural notes about China. The Vyshka Chinese Club also provides a lot of useful information.

    China has its own social networks. If you want to watch Chinese videos, you should go not to YouTube, but to Bilibili and Kuaishou. WeChat is a must to communicate with Chinese colleagues. They have an interesting service called “Little Red Book” — something like a combination of Instagram and Telegram, it helped me a lot while traveling around China. You can type in “Tasty places there,” and it will show you. You could even find out which of the many cafeterias at my university serves the best food. Or figure out how to take a photo in the Temple of Heaven without people being visible. But to immerse yourself in the Chinese blogosphere, you need to know the language and understand how it works. If you come to China with only English, it will be more difficult.

    The leading contemporary Chinese writer

    Probably Mo Yan. In the book “Frogs” he describes the social reality of the “One Family – One Child” era. I also liked the plot of the book “Children of the Herd Age” written by Liu Zhenyun. One of the stories describes how a man gave a large ransom for a woman, and she ran away with this ransom without marrying him, and his sister tries to find her.

    Popular Chinese Attractions Among Russians

    Beijing, Shanghai and Harbin — because of the proximity of the border. In Beijing, the heritage of ancient culture is interesting: the Forbidden City, the Temple of Heaven, the Great Wall of China. In Shanghai, people walk along the embankment, look at the Pearl Tower, there are more monuments of Western culture there. Hainan Island is also popular, especially among residents of Siberia and the Far East. The sea there is very clean. There are many interesting delicacies, for example, candies made from shark meat. Other destinations are for more advanced tourists who are also interested in nature. For example, the province of Sichuan, where pandas live and there are national parks.

    Differences between Western and Chinese culture

    There are, and very strong ones. In China, they tend to be collectivist, not individualistic. We have the concept of conscience, and they have shame. This is a capacious topic, it is difficult to talk about briefly, but it can be outlined with a series of illustrations by Chinese artist Yan Liu.

    What was the last thing I read and watched?

    Our colleague Ivan Yuryevich Zuenko recently published a book, “China in the Era of Xi Jinping.” I read it and even attended the presentation.

    Because of my dissertation, everything is about China now, and I watch something to support Chinese. For example, the talk show “This is China” with Professor Zhang Weiwei and the program “Round Table” with the popular host Dou Wentao.

    Advice to young scientists

    Get involved in the scientific community early on, as talking to colleagues helps you understand early on what to watch out for and what new and interesting perspectives there are on the issues you’re studying.

    Try to publish and speak at conferences. The sooner you gain such experience, the easier it will be to move along this path. And for a sinologist, it is especially important to have your own knowledge base and know exactly where to find certain materials. Order disciplines and helps in scientific work.

    Favorite place in Moscow

    VDNKh. I lived there during my first year of graduate school, and often walked there. This place is associated with my first pleasant memories after moving to Moscow.

    Favorite places in Beijing

    First of all, Beihai Park. Chinese parks are different from ours. When I came there for the first time in the evening, I felt like I was in a fairy tale. I also love Houhai, it’s also in the center, a walking place around the lake. And Qianmen Street, it’s quite lively, there are a lot of Chinese eateries, street food.

    At first, I didn’t quite have the right idea of Beijing. I thought it was high-rise and modern. But if you travel around southern cities, you’ll notice that Beijing has many low buildings in the center and it’s not so densely built up. There are hutongs on Qianmen Street – ancient buildings. And a nice coffee shop called Metal Hands.

    Chinese cuisine

    I like it. I often ate xiao long bao (steamed meat buns like dumplings), malatan (a spicy soup where you put the ingredients yourself), and different types of beef noodles. Because of my Indian friends, I also fell in love with Indian food. But in general, there are a couple of places in Beijing where you can eat Russian food. When I started missing mashed potatoes with a cutlet, it was easy to get them.

    Where would I go in China

    See the natural attractions near the cities of Chengdu and Chongqing. You need to go there in a group and think everything through in advance. There are two large national parks near Chengdu. And next to Chongqing is the Wulong Karst geological park. And there is also a beautiful place Zhangjiajie, you also need to go there for five days, preferably with a group and a guide.

    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.

    MIL OSI Russia News

  • MIL-OSI Russia: Dmitry Patrushev took part in the keel-laying ceremony of the research expedition vessel Ivan Frolov in St. Petersburg

    Translation. Region: Russian Federation –

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

    Deputy Prime Minister Dmitry Patrushev, as part of a working visit to St. Petersburg, together with the city’s governor, Alexander Beglov, took part in the ceremonial laying of the keel of the scientific expedition vessel Ivan Frolov.

    Previous news Next news

    Dmitry Patrushev took part in the keel-laying ceremony of the research expedition vessel Ivan Frolov in St. Petersburg

    According to the Deputy Prime Minister, after commissioning, the vessel should become the flagship of the Roshydromet fleet. It will house a powerful scientific complex that will allow research to be conducted even in the harshest weather conditions. And in general, this multi-purpose project will ensure the uninterrupted operation of Roshydromet polar stations – five year-round and five field bases in Antarctica.

    “Studying the Arctic and Antarctic is one of the key areas of activity of the federal service. More than 20 expeditions are already conducted annually. They allow us to track climate change, collect data for the development of navigation along the Northern Sea Route and clarify the boundaries of the country’s continental shelf. The appearance of the new vessel “Ivan Frolov” will certainly strengthen our positions in the polar regions,” said Dmitry Patrushev.

    The Deputy Prime Minister noted that a range of advanced knowledge and technologies is being used in construction. This will contribute to the development of Russia’s competencies in high-tech areas.

    It is planned that the research and expedition vessel Ivan Frolov will replace the flagship of the polar fleet Akademik Fedorov and will remain in service for at least 30 years. The vessel will be about 165 m long. Up to 20 laboratories and a platform for helicopters will be located on board. The research vessel will allow scientific research to be carried out on modular programs of any complexity by different scientific teams. Dozens of scientific projects will be carried out on board at the same time – from research of the ocean floor to the upper atmosphere and space, depending on the need and priority of research in polar latitudes.

    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.

    MIL OSI Russia News

  • MIL-OSI Security: U.S. Joins International Action Against RedLine and META Infostealers

    Source: Office of United States Attorneys

    RedLine and META Infostealers stole information from millions of victims around the world; U.S. complaint charges developer and administrator; U.S. law enforcement seizes infrastructure

    AUSTIN, Texas – The Department of Justice joined the Netherlands, Belgium, Eurojust and other partners in announcing an international disruption effort against the current version of RedLine Infostealer, one of the most prevalent infostealers in the world that has targeted millions of victim computers, and the closely-related META Infostealer.

    The Justice Department, FBI, Naval Criminal Investigative Service, IRS Criminal Investigation, Defense Criminal Investigative Service, and Army Criminal Investigation Division joined international partners in the Joint Cybercrime Action Taskforce (“JCAT”) Operation Magnus (supported by Europol) to seize domains, servers, and Telegram accounts used by the RedLine and META administrators to disrupt the operations of the infostealers.

    International authorities have created a website at www.operation-magnus.com with additional resources for the public and potential victims.

    Infostealers are a prevalent form of malware used to steal sensitive information from victim’s computers including usernames and passwords, financial information, system information, cookies, and cryptocurrency accounts. The stolen information—referred to as “logs”—is sold on cybercrime forums and used for further fraudulent activity and other hacks. RedLine has been used to conduct intrusions against major corporations. RedLine and META infostealers can also enable cyber criminals to bypass multi-factor authentication (MFA) through the theft of authentication cookies and other system information.

    RedLine and META are sold through a decentralized Malware as a Service (“MaaS”) model where affiliates purchase a license to use the malware, and then launch their own campaigns to infect their intended victims. The malware is distributed to victims using malvertising, e-mail phishing, fraudulent software downloads, and malicious software sideloading. Various schemes, including COVID-19 and Windows update related ruses have been used to trick victims into downloading the malware. The malware is advertised for sale on cybercrime forums and through Telegram channels that offer customer support and software updates. RedLine and META have infected millions of computers worldwide and, by some estimates, RedLine is one of the top malware variants in the world.

    Through various investigative steps, law enforcement has collected victim log data stolen from computers infected with RedLine and META. While an exact number has not been finalized, agents have identified millions of unique credentials (usernames and passwords), email addresses, bank accounts, cryptocurrency addresses, credit card numbers, etc. The United States does not believe it is in possession of all the stolen data and continues to investigate.

    The Department has unsealed a warrant issued in the Western District of Texas that authorized law enforcement to seize two domains used by RedLine and META for command and control.

    In conjunction with the disruption effort, the Justice Department unsealed charges against Maxim Rudometov, one of the developers and administrators of RedLine Infostealer. According to the complaint, Rudometov regularly accessed and managed the infrastructure of RedLine Infostealer, was associated with various cryptocurrency accounts used to receive and launder payments and was in possession of RedLine malware. For his actions, he has been charged with access device fraud, in violation of 18 U.S.C. § 1029, conspiracy to commit computer intrusion, in violation of 18 U.S.C. §§ 1030 and 371, and money laundering, in violation of 18 U.S.C. § 1956.

    If convicted, Rudometov faces a maximum penalty of 10 years in prison for access device fraud, five years in prison for conspiracy to commit computer intrusion, and 20 years in prison for money laundering. The complaint is merely an allegation, and the defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    The FBI Austin Cyber Task Force is investigating the case. The Task Force participants include the Naval Criminal Investigative Service, IRS Criminal Investigation, Defense Criminal Investigative Service, and Army Criminal Investigation Division, among other agencies.

    Assistant U.S. Attorney G. Karthik Srinivasan is prosecuting the case. The Justice Department’s Cybercrime Liaison Prosecutor to Eurojust and Office of International Affairs also provided significant assistance.

    The disruption effort announced today was in conjunction with Operation Magnus, a JCAT law enforcement operation to investigate RedLine and META Infostealers. The participating agencies included the Dutch National Police, Belgian Federal Police, Belgian Federal Prosecutor’s Office, United Kingdom National Crime Agency, Australian Federal Police, Portuguese Federal Police, and Eurojust.

    ###

    MIL Security OSI

  • MIL-OSI: Bybit Card Expands Into New Regions, Offering Seamless and Rewarding International Crypto Payments

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 29, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, elevates off-ramp experiences for crypto users in more regions with the Bybit Card. Officially open for registration for new users in select regions, the Bybit Card marks another step forward in the company’s mission to enable digital asset investors worldwide to access, hold and spend their cryptocurrencies with ease and confidence.

    In collaboration with S1LKPAY, principal member of Mastercard’s payment network and a provider of Banking-as-a-Service (BaaS) and Card-as-a-Service (CaaS), the Bybit Card is now accepting applications from customers of Bybit Limited, the entity regulated by the Astana Financial Services Authority (AFSA). Having obtained the full license in Sep., this is the first time Bybit Limited (AFSA) issued a prepaid card for international customers. 

    To celebrate the launch, eligible users who successfully register for the campaign will receive 10% cashback up to 600 USD for a limited time only. The Bybit Card simplifies the integration of crypto into everyday spending by offering users the ability to make payments in multiple currencies wherever Mastercard is accepted worldwide.

    The Bybit Card has been mapping out new markets globally throughout 2024, now serving customers in multiple markets across four continents.

    “Bybit is dedicated to bridging the gap between our customers’ digital assets and their real-world needs. As the Bybit Card continues to gain traction, it is being recognized as a trusted and easy-to-use crypto payment solution. We’re excited to welcome more users to the future of crypto and are committed to delivering more rewards and features in the near future,” said Joan Han, Sales and Marketing Director at Bybit. “SILKPAY is the first in the region to bring cutting-edge digital asset payment technology to market. Our partnership with Bybit brings together complementary strengths, enabling us to deliver more secure, seamless, and faster transactions through the Bybit Card. Together, we are setting a new standard for innovation and inclusion in the region’s financial landscape,” said Gani Uzbekov, Founder and CEO of SILKPAY.

    Key Features of the Bybit Card

    • Free virtual card: Zero fees for the virtual Bybit Card
    • No hidden charges: No annual or monthly fees
    • Attractive rewards: Up to $600 USD in rewards during the promotional period with 10% cashback, followed by 2-10% rebates and up to 8% APY
    • Instant access: Virtual card available immediately for use
    • Wide range of digital assets: The Bybit Card supports USDT, BTC, ETH, and more.

    Users can read more about how to qualify for the rewards: Bybit Card – 10% Cashback and Card Bonuses (Selected International Users Only)

    #Bybit / #TheCryptoArk

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, users can visit: Bybit Press 

    For media inquiries, users can contact: media@bybit.com

    For more information, users can visit: https://www.bybit.com

    For updates, users can follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    About Mastercard

    Mastercard is a global technology company in the payments industry. Their mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, their innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Mastercard decency quotient, or DQ, drives our culture and everything they do inside and outside of their company. With connections across more than 210 countries and territories, they are building a sustainable world that unlocks priceless possibilities for all.

    Mastercard press office in Kazakhstan

    Tel: +7 (727) 264 67 37

    mastercard@pressclub.kz

    Contact

    Head of PR

    Tony Au

    Bybit

    tony.au@bybit.com

    The MIL Network

  • MIL-OSI: Franklin Electric Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Third Quarter 2024 Highlights

    • Consolidated net sales of $531.4 million, a decrease of 1% to the prior year
    • Water Systems and Distribution net sales increased 2% and 1%, respectively, while Fueling Systems net sales decreased 10%
    • Operating income was $73.5 million with operating margin of 13.8%
    • GAAP fully diluted earnings per share (EPS) was $1.17

    FORT WAYNE, Ind., Oct. 29, 2024 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. today announced its third quarter financial results for fiscal year 2024.

    Third quarter 2024 net sales were $531.4 million, compared to third quarter 2023 net sales of $538.4 million. Third quarter 2024 operating income was $73.5 million, compared to third quarter 2023 operating income of $78.1 million. Third quarter 2024 EPS was $1.17, versus EPS in the third quarter 2023 of $1.23.

    “Our third quarter results were softer than expected due to continued macro pressure from lower home sales and starts, along with weather being wetter than normal. However, the demand environment remains healthy across our key end markets, which has normalized following record levels of sales in recent years. Margins remained stable due to our disciplined cost management, and we are actively pursuing opportunities to further reduce expenses across the enterprise,” commented Joe Ruzynski, Franklin Electric’s CEO.

    “As we close out the year, we expect tempered order activity in-line with seasonal patterns. That said, having spent time with our incredible global team members over the past few months, I am energized by the potential of Franklin Electric. With our wide range of capabilities, strategic footprint, and flexible balance sheet, we have the ability to drive differentiated growth and accelerate productivity for years to come,” concluded Mr. Ruzynski.

    Segment Summaries

    Water Systems net sales were $302.2 million, a new third quarter record, an increase of $6.4 million or 2 percent compared to the third quarter 2023. The sales increase was driven by higher sales of groundwater products, all other surface products and water treatment products. The sales increase was partially offset by lower sales of large dewatering pumps, which had a record quarter last year. Water Systems operating income in the third quarter 2024 was $52.8 million, a new third quarter record. Third quarter 2023 Water Systems operating income was $52.7 million.

    Distribution net sales were $190.8 million, an increase of $1.6 million or 1 percent compared to the third quarter 2023. Sales increases were driven by sales from a recent acquisition. The Distribution segment operating income in the third quarter 2024 was $12.2 million. Third quarter 2023 Distribution operating income was $10.7 million.

    Fueling Systems net sales were $69.7 million in the third quarter 2024, a decrease of $8.0 million or 10 percent compared to the third quarter 2023. Sales decreases were driven by lower volumes. Fueling Systems operating income in the third quarter 2024 was $24.1 million. Third quarter 2023 Fueling Systems operating income was $25.8 million.

    2024 Guidance

    The Company is lowering its sales guidance for full year 2024 to be approximately $2.00 billion and reducing its EPS guidance for full year 2024 to be in the range of $3.75 to $3.85 which incorporates the Company’s first nine months performance and its outlook for the fourth quarter.

    Earnings Conference Call

    A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The third quarter 2024 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

    https://edge.media-server.com/mmc/p/cp5pmtx9

    For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

    https://register.vevent.com/register/BIa5e3e952cc2d47c28144fef8683c97e0

    All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

    A replay of the conference call will be available from Tuesday, October 29, 2024, through 9:00 am ET on Tuesday, November 5, 2024, by visiting the listen-only webcast link above.

    Forward Looking Statements

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2023, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    About Franklin Electric

    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2023 and America’s Climate Leaders 2023 by USA Today.

    Franklin Electric Contact:

    Jeffery L. Taylor
    Franklin Electric Co., Inc.
    InvestorRelations@fele.com 

     
     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
                   
    (In thousands, except per share amounts)              
                   
      Third Quarter Ended   Nine Months Ended
      September 30, 2024 September 30, 2023   September 30, 2024 September 30, 2023
                   
    Net sales $ 531,438     $ 538,431     $ 1,535,596     $ 1,592,163  
                   
    Cost of sales   341,775       352,178       982,556       1,055,164  
                   
    Gross profit   189,663       186,253       553,040       536,999  
                   
    Selling, general, and administrative expenses   115,998       107,687       352,290       324,651  
                   
    Restructuring expense   139       462       139       735  
                   
    Operating income   73,526       78,104       200,611       211,613  
                   
    Interest expense   (1,556 )     (2,984 )     (4,980 )     (10,309 )
    Other (expense) income, net   (181 )     277       709       1,865  
    Foreign exchange income (expense), net   88       (2,483 )     (5,228 )     (8,098 )
                   
    Income before income taxes   71,877       72,914       191,112       195,071  
                   
    Income tax expense   16,983       14,746       43,795       39,167  
                   
    Net income $ 54,894     $ 58,168     $ 147,317     $ 155,904  
                   
    Less: Net income attributable to noncontrolling interests   (298 )     (370 )     (663 )     (1,181 )
                   
    Net income attributable to Franklin Electric Co., Inc. $ 54,596     $ 57,798     $ 146,654     $ 154,723  
                   
    Earnings per share:              
    Basic $ 1.19     $ 1.25     $ 3.18     $ 3.34  
    Diluted $ 1.17     $ 1.23     $ 3.14     $ 3.29  
     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
           
    (In thousands)      
           
      September 30, 2024 December 31, 2023
    ASSETS      
           
    Cash and cash equivalents $ 106,273     $ 84,963  
    Receivables (net)   272,003       222,418  
    Inventories   524,647       508,696  
    Other current assets   39,560       37,718  
    Total current assets   942,483       853,795  
           
    Property, plant, and equipment, net   226,072       229,739  
    Lease right-of-use assets, net   62,694       57,014  
    Goodwill and other assets   575,994       587,574  
    Total assets $ 1,807,243     $ 1,728,122  
           
           
    LIABILITIES AND EQUITY      
           
    Accounts payable $ 173,935     $ 152,419  
    Accrued expenses and other current liabilities   124,865       104,949  
    Current lease liability   17,963       17,316  
    Current maturities of long-term debt and short-term borrowings   76,402       12,355  
    Total current liabilities   393,165       287,039  
           
    Long-term debt   11,581       88,056  
    Long-term lease liability   43,484       38,549  
    Income taxes payable non-current         4,837  
    Deferred income taxes   31,128       29,461  
    Employee benefit plans   30,781       35,973  
    Other long-term liabilities   23,219       33,914  
     
    Redeemable noncontrolling interest   1,179       1,145  
           
    Total equity   1,272,706       1,209,148  
    Total liabilities and equity $ 1,807,243     $ 1,728,122  
     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
      Nine Months Ended
    (In thousands)      
      September 30, 2024 September 30, 2023
    Cash flows from operating activities:      
    Net income $ 147,317     $ 155,904  
    Adjustments to reconcile net income to net cash flows from operating activities:      
    Depreciation and amortization   41,825       39,582  
    Non-cash lease expense   15,223       12,664  
    Share-based compensation   10,127       8,449  
    Other   5,178       10,894  
    Changes in assets and liabilities:      
    Receivables   (51,440 )     (20,427 )
    Inventory   (18,760 )     2,537  
    Accounts payable and accrued expenses   17,218       4,376  
    Operating leases   (15,700 )     (12,847 )
    Income taxes-U.S. Tax Cuts and Jobs Act   (3,870 )     (2,902 )
    Other   3,968       399  
           
    Net cash flows from operating activities   151,086       198,629  
           
    Cash flows from investing activities:      
    Additions to property, plant, and equipment   (28,897 )     (30,155 )
    Proceeds from sale of property, plant, and equipment   704        
    Acquisitions and investments   (1,151 )     (6,641 )
    Other investing activities   37       26  
           
    Net cash flows from investing activities   (29,307 )     (36,770 )
           
    Cash flows from financing activities:      
    Net change in debt   (12,477 )     (87,653 )
    Proceeds from issuance of common stock   5,269       9,010  
    Purchases of common stock   (56,989 )     (29,888 )
    Dividends paid   (35,442 )     (31,315 )
    Deferred payments for acquisitions   (348 )     (448 )
           
    Net cash flows from financing activities   (99,987 )     (140,294 )
           
    Effect of exchange rate changes on cash and cash equivalents   (482 )     (4,848 )
    Net change in cash and cash equivalents   21,310       16,717  
    Cash and cash equivalents at beginning of period   84,963       45,790  
    Cash and cash equivalents at end of period $ 106,273     $ 62,507  


    Key Performance Indicators:
    Net Sales Summary

                       
      Net Sales
      United States Latin Europe, Middle Asia Total        
    (in millions) & Canada America East & Africa Pacific Water Fueling Distribution Other/Elims Consolidated
                       
    Q3 2023   $182.0     $45.5     $48.7     $19.6     $295.8     $77.7     $189.2     ($24.3 )   $538.4  
    Q3 2024   $183.6     $43.5     $53.4     $21.7     $302.2     $69.7     $190.8     ($31.3 )   $531.4  
    Change   $1.6     ($2.0 )   $4.7     $2.1     $6.4     ($8.0 )   $1.6     ($7.0 )   ($7.0 )
    % Change   1 %   -4 %   10 %   11 %   2 %   -10 %   1 %     -1 %
                       
    Foreign currency translation *   ($0.3 )   ($4.4 )   ($0.3 )   $0.0     ($5.0 )   $0.1     $0.0       ($4.9 )
    % Change   0 %   -10 %   -1 %   0 %   -2 %   0 %   0 %     -1 %
                       
    Acquisitions   $4.5     $0.0     $0.0     $0.0     $4.5     $0.0     $4.7       $9.2  
    % Change   2 %   0 %   0 %   0 %   2 %   0 %   2 %     2 %
                       
    Volume/Price   ($2.6 )   $2.4     $5.0     $2.1     $6.9     ($8.1 )   ($3.1 )   ($7.0 )   ($11.3 )
    % Change   -1 %   5 %   10 %   11 %   2 %   -10 %   -2 %   29 %   -2 %
                       
    *The Company has presented local currency price increases used to offset currency devaluation in the Argentina and Turkey hyperinflationary economies within the foreign currency translation, net row above.


    Key Performance Indicators:
    Operating Income and Margin Summary

               
    Operating Income and Margins          
    (in millions) For the Third Quarter 2024
      Water Fueling Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 52.8   $ 24.1   $ 12.2   $ (15.6 ) $ 73.5  
    % Operating Income To Net Sales   17.5 %   34.6 %   6.4 %     13.8 %
               
               
    Operating Income and Margins          
    (in millions) For the Third Quarter 2023
      Water Fueling Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 52.7   $ 25.8   $ 10.7   $ (11.1 ) $ 78.1  
    % Operating Income To Net Sales   17.8 %   33.2 %   5.7 %     14.5 %
               

    The MIL Network

  • MIL-OSI: Clean Energy Technologies, Inc. and Exergy International Sign MOU to Promote ORC Heat Recovery Solutions Across the Americas

    Source: GlobeNewswire (MIL-OSI)

    Irvine, CA., Oct. 29, 2024 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (“CETY”) (Nasdaq: CETY), a clean energy manufacturing and services company specializing in eco-friendly energy solutions, clean fuels, and alternative power for small and mid-sized projects in Americas, Europe, and Asia, has signed a Memorandum of Understanding (“MOU”) with Exergy International Srl (“Exergy”), a global leading provider of Organic Rankine Cycle (“ORC”) systems, with headquarters in Italy. This strategic partnership aims to drive growth in the field of heat recovery solutions by promoting, selling, and supporting Exergy’s ORC systems across the Americas and potentially other global regions. The collaboration will expand Exergy’s and CETY’s Waste Heat to Power solutions throughout the Americas, enabling CETY to offer small to large-scale ORC systems for industries such as cement, steel, glass, oil & gas, utilities and for power generation from geothermal resources and biomass.

    Leveraging CETY’s established market presence and engineering expertise, coupled with Exergy’s advanced high-capacity ORC systems utilizing the Radial Outflow Turbine, the two companies will offer highly-efficient and competitive waste heat recovery solutions to target specific industry needs for decarbonization.

    “We see a significant growth trajectory ahead,” said Kam Mahdi, CEO of CETY. “With the rising demand for energy-efficient solutions, this partnership provides a scalable platform to tap into a wide range of ORC applications, from waste heat recovery in industrial process heat and biomass projects to geothermal. Together, we’re positioned to make an impact on the waste heat to power landscape, generating strong sales growth and profitability.”

    Luca Pozzoni, General Manager of Exergy, comments: “Exergy views the American market as a key region for the company’s development and growth, a market that we have chosen to focus on in the coming years. I am confident that our collaboration with CETY will allow us to expand our presence, deepen our understanding of the market, and soon establish new ORC references in the region. With over 550 MWe in our portfolio, we are well-positioned to support American industries in their decarbonization journey.”

    This MOU represents a strategic partnership in the waste heat recovery sector and a pathway for scalable global growth. As industries continue to prioritize sustainable energy practices, the demand for ORC solutions is expected to increase. CETY and Exergy are poised to seize the momentum and set a new standard in delivering energy-efficient solutions worldwide.

    About Exergy International srl

    EXERGY INTERNATIONAL Srl is a leading provider of clean energy technologies. We are experts in the design, engineering and manufacturing of Organic Rankine Cycle (ORC) systems with the pioneering Radial Outflow Turbine. EXERGY’s proprietary technologies, covered by several patents, allow for highly efficient energy production via the exploitation of heat sources from geothermal, waste heat from industry, biomass and concentrated solar power. The EXERGY portfolio accounts for over 500 MWe and the second largest geothermal binary fleet worldwide. EXERGY is part of the Chinese TICA Group, a leading integrated system and service provider in HVAC. From the headquarters in the north of Italy (Milan), EXERGY exports and implements its technology worldwide with a particular focus on high growth potential markets. Website: https://exergy-orc.com/

    About Clean Energy Technologies, Inc. (CETY)

    Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. The Company’s principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

    CETY’s common stock is currently traded on the Nasdaq Capital Market under the symbol “CETY.” For more information, visit www.cetyinc.com.

    For more information, visit www.cetyinc.com.

    Follow CETY on our social media channels: Twitter | LinkedIn | Facebook

    This summary should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarterly period ended June 30, 2024 and other periodic filings made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters located on the website of the Securities and Exchange Commission at www.sec.gov.

    Safe Harbor Statement

    This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “expect,” “estimate,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Clean Energy Technologies, Inc.
    Investor and Investment Media inquiries:
    949-273-4990
    ir@cetyinc.com
    Source: Clean Energy Technologies, Inc.

    Exergy International Srl
    Media contact:
    Sara Milanesi
    s.milanesi@exergy.it
    +39 3666012588

    The MIL Network

  • MIL-OSI: Global Micro extends its GDPR and ISO 27001 compliance services to EU, UK and US clients with new offices

    Source: GlobeNewswire (MIL-OSI)

    Key points:

    • South Africa’s most experienced cloud provider is opening new offices across Europe, the UK and the US.
    • These offices make Microsoft licensing and compliance easier across Europe and the United States.
    • Global Micro’s expansion will further help businesses take advantage of the benefits of AI securely while complying with the necessary regulations.

    JOHANNESBURG, Oct. 29, 2024 (GLOBE NEWSWIRE) — Global Micro, South Africa’s most experienced cloud provider with more than 30 years of experience, is set to open physical offices in Ireland, the United Kingdom and the United States.

    These offices make Microsoft licensing and compliance easier across Europe and the United States. The company is uniquely positioned to help organisations deal with the challenges around compliance in the EU and US. 

    “It has become clear that there is significant demand for assistance to meet the compliance demands of GDPR and NIS 2 by the EU region, particularly with the EU parliament vowing to strengthen GDPR enforcement earlier this year.

    “Our M365 Security and Compliance offering covers all the 34 technical controls for ISO 27001 Information Security, upon which GDPR is based,” explains JJ Milner, the Managing Director of Global Micro.

    Furthermore, Global Micro can provide the US and European markets with an end-to-end service to achieve ISO 27001 certification as well as ensure GDPR and NIS2 compliance.

    The company already has a solid reputation with customers across Europe, the Middle East, and Africa (EMEA), and its solutions have been thoroughly tested. They are highly regarded by 1,200 customers in the region. It has further enabled its customers to attain considerably better security than the norm, a key metric in the EU’s strict regulations.

    “The effectiveness of our unique approach to managed services is evidenced by the success of our customers who enjoy far higher levels of security. While the average Microsoft Secure Score is 44/100, our customers have an average score of 75/100,” he adds.

    The expansion of Global Micro’s physical presence globally will enable the company to provide Microsoft licensing to customers in all European countries, in accordance with European Union laws, as well as across the United Kingdom and the United States.

    The official launch has been a year in the making. This is due to the complexities of meeting the legislative and governance requirements for Microsoft, UK, EU and US, explains Milner.

    The new offices will be able to draw upon the company’s full staff complement, from its back office, project management and consulting services to sales and always-available technical support teams.

    A key benefit that the company will bring is a more effective approach to delivering and maintaining secure and compliant environments.

    Milner explains that its services are delivered as managed code, which allows for standardised, consistent and auditable change management.
    This approach creates a feedback loop across its 1200 managed customers, allows it to update its code base and releases improvements to all its customers.

    The opening of the offices is also intended to help customers take full advantage of Microsoft’s push into artificial intelligence (AI) via its Copilot offering in its Microsoft 365 software suite. “While AI can open up exciting new capabilities for businesses, it can also expose hidden vulnerabilities in a company’s security and compliance measures,” says Milner.

    Companies, therefore, must be able to use the technology securely and ensure that all their security settings are aligned across their users, devices, networks, applications and the entirety of their infrastructure.

    With more than 2,500 different security settings and constantly changing regulations that companies must adhere to, that is no small feat. It is a challenge that the Global Micro office will enable its European customers to meet without needing to retain a large security team.

    These offices are set to be the first physical points of presence that mark Global Micro’s global expansion.

    “We are committed to establishing office locations globally where our customers need a physical presence.

    “We are excited to help our customers deal with their challenges and take advantage of the significant opportunities that AI brings to augment their business,” concludes Milner.

    About Global Micro
    Global Micro leverages the power of technology to deliver IT solutions that build better futures. Trusted for more than 30 years and by thousands of companies across the world, we provide enterprise-grade cloud and cybersecurity, and compliance solutions designed to help businesses comply and succeed. By simplifying sophisticated technology, we make it accessible and affordable. Keeping up with the complexity of technology is difficult. We help make it easy.

    Contact:
    Carly Simon
    Email: critz@we-worldwide.com
    Phone: +27825082209

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/df698123-4c87-4f31-b552-9fc8b47cf03b
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4e8ab056-38ec-4b19-a3e2-1aaa431270a6
    https://www.globenewswire.com/NewsRoom/AttachmentNg/cd38ab44-70fc-45e6-b75e-d5ebdaa22a97

    The MIL Network

  • MIL-OSI: Global Carbon Dioxide Removal (CDR) Market Valuation Expected to Reach $2.11 Billion by 2032

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Oct. 29, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The global Carbon Dioxide Removal (CDR) Market has been growing in the past years and is expected to continue at a substantial pace for years to come. Growing awareness and concern about the impacts of climate change are driving governments, businesses, and individuals to seek effective solutions for mitigating carbon dioxide emissions. The CDR market benefits from this heightened awareness and the urgent need for sustainable practices. A report from Custom Marketing Insights said that the global Carbon Dioxide Removal (CDR) Market size is expected to record a CAGR of 14.8% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 610.9 Million. By 2032, the valuation is anticipated to reach USD 2,115.5 Million.   The report said: “Stringent Regulatory Policies and Targets: Governments around the world are implementing and enhancing regulatory frameworks aimed at reducing greenhouse gas emissions. The imposition of carbon reduction targets and the integration of carbon pricing mechanisms create a favorable environment for the growth of the CDR market, as industries seek ways to comply with these regulations.   Advancements in CDR Technologies: Ongoing research and development efforts are leading to technological advancements in carbon removal methods. Improved efficiency, scalability, and cost-effectiveness of CDR technologies contribute to their wider adoption and growth in the market.   Increasing Corporate Sustainability Initiatives: Many companies are adopting sustainability goals and committing to achieving net-zero emissions. As part of their corporate social responsibility (CSR) initiatives, businesses are investing in CDR technologies to offset their carbon footprint, contributing to the overall growth of the market.”   Active carbon companies in the markets this week include: BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF), SLB (NYSE: SLB), DevvStream Holdings Inc. (OTCQB: DSTRF) (NEO: DESG), Base Carbon Inc. (OTCQX: BCBNF) (NEO: BCBN), LanzaTech Global, Inc. (NASDAQ: LNZA).

    Custom Marketing Insights continued: “Rising Investments and Funding: The CDR market is witnessing increased investments from both public and private sectors. Governments, venture capital firms, and major corporations are allocating funds to support research, development, and implementation of carbon removal technologies, fostering market growth.   Emergence of Carbon Offset Markets: The development of carbon offset markets, where entities can buy and sell carbon credits, provides financial incentives for the deployment of CDR technologies. This market dynamic encourages the adoption of carbon removal solutions as a means for businesses to offset their emissions and comply with regulatory requirements, thereby driving market growth.”

    BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF) Commences Biochar Production in Arkansas BluSky Carbon Inc. (FWB: QE4 /WKN A401NM) (“BluSky” or the “Company”), an innovative entry into the carbon removal clean technology sector is very pleased to announce that it has commenced production of biochar at a dedicated facility in Arkansas. The event marks the official startup of initial biochar production aimed at servicing the recently announced $105 million, ten-year supply agreement (see Company news release dated Sept 24, 2024) (“Supply Agreement”).

    A video showing the equipment start-up and providing some insights into the facility, the region, and BluSky’s strategic plan is available here.

    The startup of the Vulcan Heavy system at this location represents the first of three units required to service the totality of the Supply Agreement. Once the other two units are procured and fully operational (see news release dated September 24, 2024), these machines are expected to produce a combined output of approximately 40,000 tons of biochar annually. It is also expected that production byproducts such as bio-oil and syngas may help reduce the Company’s overall production costs by providing some of the energy required to power the Vulcan systems, potentially along with surplus power capacity to contribute towards operating BluSky’s related carbon removal technologies (CDR) including its Medusa Carbon mineralization process and Kronos Direct Air Carbon Capture technology.

    The inaugural production plant has been dedicated as “AR1“ and is located at 110 Industrial Park Drive in Warren, Arkansas. The facility consists of a multi-room 50,000 sq/ft enclosure located on an 8.54-acre property. Warren services an established sustainable timber industry with a strong presence in the town and surrounding area. Nearby softwood wood chip production (mostly yellow pine) serves as a nearly limitless source of clean biomass feedstock for the BluSky Vulcan Heavy pyrolysis systems.

    BluSky CEO Will Hessert comments, “The facility is ideally suited for scalability. We have ample room for the three Vulcan Heavy units as required to service our initial regional contract, with additional room to double that production without the need to create more space. The property itself is large and well suited to handle industrial scale logistics and storage needs.”   CONTINUED Read this full press release and more news for BluSky Carbon at:   https://bluskycarbon.com/news/

    Other recent carbon developments in the markets of note include:

    SLB (NYSE: SLB), formerly known as Schlumberger, recently announced it was aiming to accelerate the deployment of carbon capture technology through an investment in Norway’s Aker Carbon Capture. SLB said that it will pay about $380 million, or 4.12 billion Norwegian kroner, for an 80% stake in the pure-play carbon capture company. The deal is expected to close by the end of the second quarter.

    Schlumberger rebranded as SLB in 2022 as part of the company’s growing focus on lower-carbon technologies. SLB is targeting $3 billion in revenue from its new energy business by the end of the decade. CEO Olivier Le Peuch told analysts during the company’s fourth-quarter earnings call that carbon capture and storage will be a leading contributor to that $3 billion target. SLB is participating in more than $400 million worth of tenders related to carbon capture and storage.

    DevvStream Holdings Inc. (NEO: DESG) (OTCQB: DSTRF), a leading carbon credit project co-development and generation firm specializing in technology-based solutions, recently announced an agreement (the “Agreement”) to purchase 1.2 million carbon credits from the Ipixuna REDD+ Project (the “Project”), subject to final approval by the board of Focus Impact Acquisition Corp. (“Focus Impact”). In exchange for the credits, the vendor will receive newly authorized shares of common stock of the public company (“NewCo”) resulting from DevvStream’s previously announced business combination with Focus Impact (the “Business Combination”). Upon closing of the Business Combination-projected to occur on or before October 31, 2024-NewCo is expected to be named DevvStream Corp. and begin trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “DEVS.” The Company expects the carbon credit purchase Agreement to close in conjunction with and conditional upon the Business Combination and Nasdaq listing.

    Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. (together, with affiliates, “Base Carbon”, or the “Company”), recently announced that it has received a second transfer of 1,014,635 carbon credits from its Rwanda project, each designated with Verra’s Article 6 Authorized label.

    Pursuant to the terms of the project agreement with the DelAgua Group, the project developer, and the letter of authorization issued by the Government of Rwanda (“LOA”) with respect to the project, the Company has received a transfer of 1,014,635 Article 6 Authorized labeled carbon credits. This volume is net of 23,060 carbon credits which have been retired to contribute towards global emission reductions and 115,300 carbon credits to be made available to the Government of Rwanda pursuant to the terms of the LOA. The Company now holds a total inventory of 1,712,193 carbon credits generated from the Rwanda project, all designated with Verra’s Article 6 Authorized label.

    LanzaTech Global, Inc. (NASDAQ: LNZA), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein, has been awarded $3 million by the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM), as part of a broader $29 million investment program to advance its carbon management priorities. LanzaTech’s Project ADAPT (“Accelerating Decarbonization via Advanced Production Technologies”) was selected to address FECM’s priority of converting carbon dioxide (CO2) into environmentally responsible and economically valuable products…

    …”We are thrilled to receive this support from the U.S. Department of Energy to progress our work around scaling the conversion of waste CO2 to make some of the world’s most needed chemicals,” said Dr. Jennifer Holmgren, CEO of LanzaTech. “CO2 is an essential feedstock of today and the future, and Project ADAPT leverages our expertise and existing operations to accelerate the commercialization of transformational carbon capture and utilization technologies that deliver cleaner and more sustainable energy and products.”

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM was compensated twenty three hundred dollars for news coverage of the current press releases issued by BluSky Carbon Inc. by the company.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group, LLC.

    The MIL Network

  • MIL-OSI Banking: Elizabeth McCaul: Fading crises, shifting priorities – a supervisory perspective on the regulatory cycle

    Source: Bank for International Settlements

    Thank you very much for inviting me to today’s conference.

    I regret that I am not able to join you in person but I am sure that you are having very productive and insightful discussions.

    The title of the conference, “EU banking regulation at a turning point”, indicates that the regulatory environment seems to be undergoing a fundamental shift. While the years following the global financial crisis have been devoted to reinforcing the regulatory framework to prevent a recurrence of similar failures, the public debate seems to have shifted away from focusing on safety and stability towards placing greater emphasis on competitiveness.

    Shifts in public opinion on regulation are nothing new. There is a natural ebb and flow of regulatory intensity driven by crises, economic conditions and political priorities. After a crisis, there is often strong public support for stricter regulation, which tends to weaken over time as the crisis recedes.

    In today’s remarks, I want to give you a supervisory perspective on the regulatory cycle and its shifting priorities.

    I would like to make three main points.

    First, it is a fundamental misconception to frame safety and competitiveness as opposing forces. A stable and secure financial system forms the bedrock of long-term competitiveness.

    Second, the post-crisis reform agenda in Europe is not yet complete. Notably, the banking union is still unfinished and the capital markets union requires more ambition. For me, there is a clear link here between these important policy objectives and buttressing the competitiveness of the sector.

    Third, we need to tackle emerging risks, such as the growth of the non-bank financial intermediation (NBFI) sector, and the rising geopolitical risk, which manifests itself in a number of ways, including in concerns about cyberattacks. Tackling these risks will contribute towards ensuring the continued resilience of the financial system.

    Heeding the lessons from the past

    As the great financial crisis fades into the rearview mirror, it seems that competitiveness considerations have taken the wheel. However, just as guardrails on a motorway do not impede drivers but ensure they stay on the road, a robust regulatory framework sets safe boundaries for banks, enabling them to fulfil their role of lending to the real economy.

    Let me take this traffic metaphor even further. There are countless studies showing that speed limits not only reduce danger but also minimise congestion, thereby reducing the overall travel time. It’s a fallacy to think that higher speed limits mean faster travel, just as laxer regulation does not lead to more sustainable growth. Similarly, regulatory competition between jurisdictions is more likely to lead to a race to the bottom than to a robust regulatory framework.

    Research consistently shows that well-capitalised banks are better positioned to support the real economy thanks to their enhanced capacity to absorb losses and maintain stability, even under financial stress. Specifically, impact assessments for the Basel reforms have demonstrated that while there may be short-term economic costs, these are far outweighed by the long-term benefits, most notably increased economic resilience.

    As for concerns over competitive advantages or disadvantages, I am not convinced that EU banks are at a disadvantage. In fact, the notion that regulatory requirements are more stringent in the EU than in the United States does not hold up to scrutiny. Evidence shows that global systemically important banks (G-SIBs) in the United States face slightly higher capital requirements than their EU counterparts.

    Furthermore, when we account for differences in how banks calculate risk-weighted assets, it becomes clear that average capital requirements for significant institutions in the banking union would be somewhat higher under US rules. This directly challenges some of the industry reports that suggest otherwise.1

    Completing the banking union and the capital markets union

    Let me now move to my second point: the need to complete the banking union and the capital markets union.

    In recent years, Europe’s banking sector has demonstrated resilience amid unforeseen challenges, including the coronavirus pandemic, the energy supply shock following Russia’s invasion of Ukraine and high inflation.

    This resilience is reflected in the numbers: in 2015 the average ratio of non-performing loans (NPLs) for significant banks in the banking union was 7.5%, at a time when some banking systems had ratios close to 50%. At the end of the second quarter of this year, this ratio had decreased to 2.3%, driven mainly by the reduction of NPLs in high-NPL banks.

    Similarly, the Common Equity Tier 1 ratio for significant banks has risen from 12.7% in 2015 to 15.8% today. Bank profitability has increased considerably in recent quarters, benefiting from higher interest rates, and return on equity now stands at 10.1%.

    This resilience is also a result of the strengthened supervisory and regulatory framework after the global financial crisis, including the creation of European banking supervision. The limited repercussions from the March 2023 banking sector turmoil stand as a testament to the robustness of our banking union.

    However, while we have made significant strides to build a more resilient banking union, the journey is far from complete. Without a European deposit insurance scheme, there cannot be a truly single banking system. Depositors across the banking union should have a uniform level of confidence that their deposits are safeguarded during crises, irrespective of their Member State or the location of their bank.

    We must also enhance the crisis management and deposit insurance (CMDI) framework to effectively manage the failures of small and medium-sized banks. It is crucial that authorities have the flexibility to act and that adequate funding is available for a diverse range of scenarios.

    Losses from bank failures should primarily be borne by the bank’s shareholders and creditors. Nonetheless, the framework should also allow for the use of industry-funded safety nets when necessary to protect financial stability.

    In particular, deposit guarantee schemes should be equipped to support the use of crisis management tools, for example by contributing to meeting the bail-in conditions for gaining access to the Single Resolution Fund. Smaller banks, which often rely heavily on deposits as a funding source, may face challenges in issuing financial instruments that could be bailed in if the bank fails.

    This issue can be mitigated by clarifying and broadening the least cost test and introducing a general depositor preference based on an equal ranking of all deposits.

    The current review of the CMDI framework is an opportunity to bring durable fixes to the flaws I have just described. We hope the co-legislators will reach an ambitious agreement and not settle for small-scale tweaks that would largely preserve the current – and less than satisfactory – status quo.

    Liquidity in resolution is another important aspect of crisis management where progress is needed. A resolved bank should primarily rely on market funding for liquidity, but a public liquidity backstop can be critical to maintain confidence in the resolution process, as demonstrated by recent crises in other jurisdictions.

    Unlike other jurisdictions, however, the banking union lacks an effective public sector backstop mechanism to provide this temporary liquidity funding. We therefore encourage all EU stakeholders to resume discussions on setting up a European-level public backstop to ensure liquidity is provided to banks facing resolution in a timely and effective manner.

    The incompleteness of the banking union is a significant impediment to creating a truly integrated banking sector in Europe and optimising its competitiveness. Achieving this goal means removing unnecessary barriers to cross-border banking and enabling cross-border groups to manage liquidity and capital at the group level. A fully integrated, cross-border European banking landscape would not only make banks more efficient but also more resilient to domestic shocks, by enabling them to diversify their risks and revenue streams. This would contribute to private risk sharing and enhance the overall economy’s robustness and efficiency, benefiting European citizens.

    Let me now turn to the second element of what is missing in Europe’s financial architecture: the capital markets union.

    The capital markets union and the banking union are complementary projects. Progress on the capital markets union provides opportunities for banks and vice versa. And deepening the capital markets union is vital for the European economy to attract the necessary private investments to support innovation and the digital and green transitions, thus bolstering EU competitiveness.

    For banks, this means more cross-border activities, which would make them more competitive compared with their international counterparts. In a more integrated pan-European capital market, banks could fully exploit economies of scale by offering similar products and services across multiple countries.

    Targeted harmonisations across Member States could facilitate such cross-border lending, enabling banks to better assess risks and opportunities from borrowers in other Member States. Completing the banking union would significantly accelerate the push towards a truly integrated European banking landscape.

    Securitisation is another measure to advance the capital markets union where banks play a key role. Given the constraints on banks’ balance sheets, capital markets can complement bank lending and increase the financing available to the private sector while transferring risks to other intermediaries. Securitisation is crucial as it provides a diversified funding base for banks, a tool to transfer credit risks and new assets for investors. This can also create space for additional lending to the economy.

    Tackling emerging risks – non-bank financial institutions and rising geopolitical risks

    While non-banks may help in financing the significant needs of the twin green and digital transition, they also necessitate adequate regulation and close monitoring.

    The growth in the NBFI sector is staggering. In the euro area the sector has more than doubled in size, from €15 trillion in 2008 to €32 trillion in 2024. Globally, the numbers are even more worrying, with the sector growing from €87 trillion in 2008 to €200 trillion in 2022.

    The private credit market is a particular concern. It accounts for €1.6 trillion of the global market and has also seen significant growth recently. The European private credit market growth is accelerating by 29% in the last three years, but the market is still much smaller than the market in the United States, which is where investors and asset managers are often based. The end investors are pension funds, sovereign wealth funds and insurance firms, but banks play a significant role in leveraging and providing bridge loans at various levels to credit funds. We recently completed a deep dive on the topic and found that banks are not able to fully identify the myriad ways they have exposure to private credit funds. Therefore, concentration risk could be significant.

    We know that risk from the NBFI sector can materialise through various channels. One such channel is the correlation of exposures, especially given the growth in private credit and equity markets. We supervisors do not have a full picture of the level of exposure and correlations between NBFI balance sheets and bank lending arrangements, lines of credit or derivatives to and from NBFIs.

    To make the market less opaque, we should further harmonise, enhance and expand reporting requirements and make information-sharing between authorities easier at the global level.

    The growth in the NBFI market is not the only concern we have about the current risk environment. There is ample evidence in our constant media feeds of rising risks. We need only switch on our news channels to see frightening images of human tragedy, Russia’s invasion of Ukraine, the widening conflagration in the Middle East, and even what may be the most significant military exercise yet conducted by Chinese armed forces encircling Taiwan. There are many reasons to be concerned about rising geopolitical risk, such as supply chain disruptions, energy disruptions and inflationary pressures. They all pose threats to resilience. I’d like to highlight one resulting risk – the increased risk of cyberattacks, in particular the increased threat from nation state actors. Our IT risk questionnaire shows a significant uptick year after year. In 2022, 50% of our supervised entities were subject to at least one successful cyber attack, rising to 68% percent in 2023 as the upcoming publication of our annual horizontal analysis will show. On an absolute basis the number of reports has also risen significantly. The number of cyber incident reports that we have received in 2023 was 77% higher than in 2022, and we expect the total number of incident reports in 2024 to be similar to 2023. The IMF also reports that the number of attacks has doubled since the pandemic.

    Conclusion

    Let me conclude.

    While the public debate on banking regulation may have shifted, we need to continue to uphold robust regulatory frameworks that balance safety with competitiveness. Completing the banking union and the capital markets union remains a critical priority and one that can enhance the overall competitiveness of the sector. In addition, we must remain vigilant in addressing the emerging risks posed by the growing NBFI sector and rising geopolitical risks that threaten resilience.

    By staying committed to these priorities, we can build a stronger, more integrated European financial system that supports innovation, protects consumers and enhances the overall resilience of our economy for all Europe’s citizens. Crises fading in the rearview mirror should not be a harbinger of shifting supervisory and regulatory priorities such that a weaker, less competitive and less resilient sector is the result. 

    MIL OSI Global Banks

  • MIL-OSI Banking: Ida Wolden Bache: Monetary policy trade-offs in a small open economy – the case of Norway

    Source: Bank for International Settlements

    Presentation accompanying the speech

    Introduction

    Good afternoon. Let me start by thanking the Peterson Institute for the invitation and for giving me the opportunity to address this distinguished audience. It’s a pleasure to be here.

    [Chart: The tightening was synchronised across countries]

    The tightening of monetary policy by central banks over the past few years has been unprecedented in several respects. By some measures, this has been the most globally synchronised of all tightening episodes in the past half century.

    In Norway, as in many other countries, global supply chain disruptions contributed to a rise in prices for a broad range of goods during the pandemic. When pandemic restrictions were lifted, economic activity quickly rebounded. The high level of household saving gave an additional impetus to demand. When Russia invaded Ukraine in February 2022, energy and commodity prices soared. Since Norway is a major exporter of oil and gas, those price increases constituted a positive terms-of-trade shock, and they generated large inflows into the Norwegian government’s sovereign wealth fund, the Government Pension Fund Global. But at the same time, the increases in energy prices contributed to pushing up domestic business costs and spilled over into consumer prices.

    [Chart: Policy rate at 4.5% to end of year, according to forecast]

    Norges Bank started a gradual normalisation of interest rates in September 2021, and our key policy rate now stands at 4.5 percent. The policy rate forecast in our latest Monetary Policy Report in September implies that the policy rate will remain at 4.5 percent to the end of this year, before being gradually reduced from first quarter 2025.

    MIL OSI Global Banks

  • MIL-OSI Global: RFK Jr.’s pivot to Trump is a journey taken by many populists swept along the left-to-right alternative media pipeline

    Source: The Conversation – USA – By Rachel Meade, Lecturer of Political Science, Boston University

    When Robert F. Kennedy Jr. ended his independent presidential run in August 2024 and endorsed Republican Donald Trump, it might have seemed a surprising turn of events.

    Kennedy began his presidential run as a Democrat and is the scion of a Democratic dynasty. Nephew to former President John F. Kennedy and the son of former Attorney General Robert F. Kennedy, Kennedy spent most of his career as a lawyer representing environmental groups that sued polluting corporations and municipalities.

    Yet Kennedy, 70, has long held positions that put him at odds with the Democratic mainstream. He pushes public health misinformation around vaccines and HIV/AIDS, opposes U.S. military involvement in foreign wars, including in Ukraine, and claims that the CIA assassinated his uncle.

    Kennedy’s ideologically mixed politics are hard to categorize in traditional left-right terms.

    My political science research finds that Kennedy’s journey from left-aligned skepticism into Trumpism is part of a broader trend of contemporary left-to-right populist transformations happening across the United States.

    Rise of the populist alternative media

    Populism is a political story that presents the good “people” of a nation as in a struggle against its “elites,” who have corrupted democratic institutions to further their own selfish interests. It cuts across the ideological spectrum, often combining left-wing economic critiques with right-wing cultural ones.

    Based on my research, I find that Kennedy uses a populist style of speech that matches the rhetoric of today’s online alternative media, also known as the “alternative influence network.”

    If populism cuts across the ideological spectrum, so does the alternative media.

    This network of politically diverse independent podcasters, YouTube hosts and other creators connects with young, politically disaffected audiences by mixing politics with comedy and pop culture, and presenting themselves as embattled defenders of free thinking – in opposition to mainstream media and mainstream parties.

    Top-rated shows include “Breaking Points,” “Stay Free with Russell Brand,” “The Joe Rogan Experience,” The Culture War with Tim Pool and “This Past Weekend w/ Theo Von.”

    While many of these shows have been around since the 2010s, the network expanded throughout the Trump era. Their popularity skyrocketed during the COVID-19 pandemic, when public distrust in government, anger over pandemic restrictions and vaccine skepticism surged.

    These shows hosted Kennedy frequently throughout his presidential run in 2023 and 2024.

    Kennedy finds his audience

    I analyzed a set of Kennedy’s appearances for this story. Both Kennedy and alternative media hosts claim to care about “the real issues” facing Americans such as war, corporate and political malfeasance and economic troubles. They condemn the “mainstream” for promoting frivolous “culture war” topics related to race and identity politics.

    Kennedy and the alternative media hosts also combine left and right arguments in a typically populist way. They claim that corporations control the government and that liberals and corporations censor free speech.

    For example, on a May 2024, episode of “Stay Free with Russell Brand,” Brand asserted that corrupt institutions are backed by the “deep state.” He asked Kennedy how he would fight these powerful interests.

    “The major agencies of government have all been captured by the industries they’re supposed to regulate and act as sock puppets serving the mercantile interests of these big corporations,” responded Kennedy. “I have a particular ability to unravel that because I’ve litigated against so many of these agencies.”

    My research found that Kennedy often bonded with his alternative media hosts over his perception that liberal media sources – allegedly controlled by the Democratic National Committee or the CIA – were censoring his campaign.

    Like Kennedy, alternative media hosts often identify as former or disaffected Democrats. Many used to work at mainstream left news sites, where they say they experienced censorship.

    ‘This little island of free speech’

    In a June 2023 episode of “The Joe Rogan Experience,” Rogan explained that he no longer identifies as a liberal because of the “orthodoxy it preaches” around issues like vaccines. He then cited YouTube’s removal of some of Kennedy’s vaccine-related videos for violating its COVID-19 misinformation policy.

    Kennedy had just spent 90 minutes outlining his journey toward vaccine skepticism, which started with meeting a mother who believed vaccines caused her son’s autism.

    “If a woman tells you something about her child, you should listen,” he said.

    Kennedy also described being convinced by a set of studies that public health officials had ignored.

    “Trust the experts is not a function of science, it’s a function of religion,” he said. “I’ve been litigating 40 years; there’s experts on both sides.”

    Afterward, he thanked Rogan for maintaining “this little island of free speech in a desert of suppression and of critical thinking.”

    Kennedy reiterated this point in the Aug. 23, 2024, speech that ended his campaign, saying the “alternative media” had kept his ideas alive, while the mainstream networks had shut him out despite his historically high third-party poll numbers of 15% to 20%.

    “The DNC-allied mainstream media networks maintained a near-perfect embargo on interviews with me,” Kennedy said.

    Speaking directly to the reporters in the room, he added, “Your institutions and media made themselves government mouthpieces and stenographers for the organs of power.”

    Left-to-right pipeline

    Trust in a range of U.S. institutions is at historical lows. Americans on both the right and the left are skeptical of power and crave radical change.

    Alternative media hosts tap into this desire, helping to push some disaffected listeners down the same left-to-right pipeline that landed Kennedy in Trump’s orbit.

    Trump and his allies are adept at harnessing the power of the alternative media ecosystem. Trump has appeared on male-centric shows like “This Past Weekend w/ Theo Von and ”The Joe Rogan Experience,“ and he founded the alternative social media platform Truth Social.

    Trump’s former adviser Steve Bannon hosts an influential podcast called the “War Room” on another MAGA alternative media platform, Rumble. Known for its fiery populist rhetoric, the “War Room” broadcasts live for an astonishing 22 hours a week.

    Until recently, Democrats have largely embraced traditional media. During the first months of her 2024 presidential campaign, Vice President Kamala Harris appeared on CBS’ “60 Minutes,” ABC’s “The View” and MSNBC’s “Stephanie Ruhle.”

    Then, on Oct. 12, Harris appeared on “Call her Daddy.” Spotify’s second-most popular podcast, it has a young, female audience. Days later, she sat down for an interview with Fox News and is reportedly in talks to appear on Joe Rogan’s show.

    Kennedy might approve of all this aisle-crossing.

    “Step outside the culture war!” he tweeted in July 2024. “Step outside the politics of hating the other side!”

    Rachel Meade does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. RFK Jr.’s pivot to Trump is a journey taken by many populists swept along the left-to-right alternative media pipeline – https://theconversation.com/rfk-jr-s-pivot-to-trump-is-a-journey-taken-by-many-populists-swept-along-the-left-to-right-alternative-media-pipeline-236828

    MIL OSI – Global Reports

  • MIL-OSI Global: On foreign policy, Trump opts for disruption and Harris for engagement − but they share some of the same concerns

    Source: The Conversation – USA – By Garret Martin, Senior Professorial Lecturer, Co-Director Transatlantic Policy Center, American University School of International Service

    Who will represent the U.S. better on the global stage? Justin Sullivan/Getty Images

    According to conventional wisdom, U.S. voters are largely motivated by domestic concerns and especially the economy.

    But the upcoming presidential election may be somewhat of an outlier. In a September 2024 poll, foreign policy actually ranks quite high in voters’ concerns – with more Democrats and Republicans combined saying it was “very important” to their vote than, say, immigration and abortion.

    As such, understanding where Republican presidential nominee Donald Trump and Democratic rival Kamala Harris stand on the significant international issues of the day is important. And we can do so by looking at the records of their respective administrations in the three regions they prioritized: the Indo-Pacific, Europe and the Middle East.

    Donald Trump: Disrupter-in-chief

    In his 2017 inaugural address, Trump painted a dark picture of the U.S. In his telling, his country was being taken advantage of by other nations, especially in trade and security, while neglecting domestic challenges.

    To disrupt this, Trump promised an “America First” approach to guide his administration.

    And in practice, his foreign policy certainly proved disruptive. He showed a clear willingness to buck traditions and undid some of former President Barack Obama’s signature policies, such as the Iran nuclear deal, which exchanged sanctions relief for restrictions on Tehran’s domestic nuclear program, and the Trans-Pacific Partnership trade agreement.

    In so doing, he ruffled the feathers of allies and foes alike.

    Trans-Atlantic relations were tense under Trump, especially because of his hostility toward NATO. After deriding the Atlantic alliance on the campaign trail, Trump stuck to the same tune while in office. He routinely insulted allies at high-level summits and allegedly came close to withdrawing from the alliance altogether in 2018.

    While NATO did make inroads in bolstering its Eastern flank in that period, the alliance was primarily defined by internal turmoil and limited cohesion during Trump’s time in office. U.S. relations with the European Union hardly fared better. In 2018, the U.S. imposed steel and aluminum tariffs on the European Union, citing national security concerns.

    Trump also broke with previous U.S. presidents in his administration’s Asia policy. One of his first moves in 2017 was to abandon the Trans-Pacific Partnership, a trade deal negotiated by Obama. Trump’s late 2017 national security strategy also announced a major shift toward China, labeling it as a “strategic competitor” – implying a greater emphasis on containing China as opposed to cooperating with it.

    This hawkish turn played out especially in the field of trade. Trump’s administration imposed four rounds of tariffs in 2018-19, affecting US$360 billion of Chinese goods. Beijing, of course, responded with tariffs of its own. The two countries did sign a so-called phase-one deal in January 2020 that sought to lower the stakes of this trade war. But the COVID-19 pandemic nullified any chance of success, and relations soured further with each Trump utterance of the pandemic being a “Chinese virus.”

    Trump showcased somewhat contradictory impulses toward the Middle East and other issues. He pushed for disengagement and to undo Obama’s major policies. Besides withdrawing from the Paris climate accords in 2017, Trump abandoned the Iran nuclear deal in 2018. His administration also signed a deal to end the U.S. presence in Afghanistan, and it withdrew forces from northern Syria.

    But at the same time, Trump continued the bombing campaign against the Islamic State group in Syria and Iraq and authorized the killing of Iranian Gen. Qasem Soleimani in 2020. The latter was consistent with a policy that aimed to pressure and isolate Iran economically and diplomatically. The key example of the diplomatic pressure came through especially via the Abraham Accords through which Trump helped facilitate the establishment of normal diplomatic ties between Israel and the UAE, Bahrain and Morocco.

    Kamala Harris: Alliance and engagement

    Although not taking a driving role in foreign policy, Harris has been part of an administration that has committed the U.S. to repairing alliances and engaging with the world.

    This came across by undoing some major actions from the Trump administration. For example, the U.S. quickly rejoined the Paris climate accords and overturned a decision to leave the World Health Organization.

    But in other areas, the Biden administration has shown more continuity with Trump than many expected.

    For instance, the U.S. under Biden has not fundamentally deviated from strategic competition with China, even though the tactics have differed a little. The administration maintained Trump’s tariff approach, even adding its own targeted rounds against Beijing on electric vehicles.

    Moreover, it cultivated different diplomatic platforms in the Indo-Pacific to act as a counterweight to China. This included the cultivation of the Quad dialogue with Australia, India and Japan, and the AUKUS deal with Australia and the U.K., both of which attempted to further the Biden administration’s strategy of containing China’s influence by enlisting regional allies. Finally, the Biden administration did maintain some channels of communication with China at the highest level as well, with Biden meeting Xi Jinping twice during his presidency.

    Ukraine President Volodymyr Zelenskyy walks alongside Vice President Kamala Harris at the White House compound on Sept. 26, 2024.
    Tom Brenner/Getty Images

    The Biden administration’s Middle Eastern policy displayed significant continuity with Trump’s approach – at first. While it turned out to be chaotic, the U.S. completed the withdrawal of its troops from Afghanistan in summer 2021, as had been agreed under Trump. The Biden administration also embraced the format and goals of the Abraham Accords. It even tried to build on them, with the goal of fostering Israeli-Saudi diplomatic ties.

    Of course, the attacks of Oct. 7, 2023, in Israel completely changed the equation in the Middle East. Preventing the spiral of violence in the region has become an all-consuming task. Since then, Biden and Harris have tried, largely unsuccessfully, to balance support for Israel with mediation efforts to liberate the hostages and to ensure a cease-fire.

    Trans-Atlantic relations, however, are an area where there were marked differences in the past four years. The tone of the Biden-Harris administration has been in sharp contrast with that of Trump, reaffirming frequently its clear commitment to NATO. And once Russia launched its illegal invasion in February 2022, the U.S. placed itself at the forefront of supporting Ukraine.

    Harris has suggested that she would continue Biden’s policy of providing Kyiv with extensive and continuous military support. In conjunction with allies, the White House of Biden and Harris also implemented a broad range of sanctions against Russia. But the U.S. under Biden has not yet been willing to support Ukraine’s immediate entry into NATO.

    What next?

    Based on their records, what could we expect of a Trump or Harris presidency?

    It’s unlikely either candidate will abandon strategic competition with China. But Trump is more likely to seriously escalate the trade war, promising extensive tariffs against Beijing. Trump’s commitment to defending Taiwan is also more ambiguous in comparison with Harris’ pledges.

    U.S. policy toward Europe will largely depend on the results of the election. Harris has frequently underlined her steadfast support for NATO, as well as for Ukraine. Trump, on the other hand, is showing signs that he is unwilling to further aid the regime in Kyiv.

    And for the Middle East, it remains to be seen whether either Trump or Harris would be able to better shape events in the region.

    Garret Martin receives funding from the European Union for the research institute he co-directs, the Transatlantic Policy Center.

    ref. On foreign policy, Trump opts for disruption and Harris for engagement − but they share some of the same concerns – https://theconversation.com/on-foreign-policy-trump-opts-for-disruption-and-harris-for-engagement-but-they-share-some-of-the-same-concerns-238847

    MIL OSI – Global Reports

  • MIL-OSI Global: How Trump’s racist talk of immigrant ‘bad genes’ echoes some of the last century’s darkest ideas about eugenics

    Source: The Conversation – USA – By Shannon Bow O’Brien, Associate Professor of Instruction, The University of Texas at Austin

    Donald Trump speaks at Madison Square Garden in New York on Oct. 27, 2024. John Salangsang/Invision/AP

    Republican presidential nominee Donald Trump has repeatedly denounced immigrants who enter the U.S. illegally and the danger he says that poor immigrants of color pose for the U.S. – often using hateful language to make his point.

    In early October 2024, Trump took his comments a step further when he questioned immigrants’ faulty genes, saying without support that “Many of them murdered far more than one person, and they are now happily living in the United States. You know, now a murderer, I believe this, it’s in their genes. And we got a lot of bad genes in our country right now.”

    It was far from the first time Trump has invoked eugenics – a false, racist theory that some people, and even some races, are genetically superior to others.

    In 1988, for example, Trump told Oprah Winfrey during an interview: “You have to be born lucky in the sense that you have to have the right genes.”

    In 2016, Trump said that his German roots are the reason behind his greatness:

    “I always said that winning is somewhat, maybe, innate. Maybe it’s just something you have; you have the winning gene. Frankly it would be wonderful if you could develop it, but I’m not so sure you can. You know, I’m proud to have that German blood, there’s no question about it. Great stuff.”

    And in 2020, Trump again alluded to his belief that bloodlines convey excellence:

    “I had an uncle who went to MIT who is a top professor. Dr. John Trump. A genius. It’s in my blood. I’m smart.”

    Trump’s repeated and countless comments about white people’s racial superiority to people of color have prompted some comparisons to the Nazis and their ideology of racial superiority.

    The Nazis are indeed the most infamous believers of the false idea that white, blue-eyed, blonde-haired people were superior to others – and that the human population should be selectively managed to breed white people.

    But the Nazis didn’t originate these ideas. In fact, the Nazis were so impressed with many American eugenic ideas that they incorporated them into their racist, antisemitic laws.

    Root of eugenics

    The British scientist Francis Galton, a cousin of the evolutionist Charles Darwin, first developed the theory of eugenics in the 1860s, and it gained a foothold in the U.S. and Britain around this time.

    Eugenics sets racial identity, and especially white identity, as the most desirable and worthy.

    By the dawn of the early 1900s, much of the American eugenics scholarship looked down on American immigrants from any place other than Scandinavia, thus coining the term “Nordicism.”

    In the late 19th and early 20th century, immigration to the U.S. was at its peak. In 1890, 14.8% of people living in the U.S. were immigrants. Many people felt concerned about immigration in the U.S., and there were many prominent eugenicists in America. Two of the most famous were Madison Grant and Lothrop Stoddard.

    Both were avowed white supremacists who advocated for scientific racism. They wrote popular and widely read books that helped shape American and German law in the 1920s and 1930s.

    Grant, Stoddard and other theorists in the U.S. embraced eugenics as a way to justify racial segregation, restrict immigration, enforce sterilization and uphold other systemic inequalities.

    Stoddard attacked the United States’ immigration policies in his 1920 book, “The Rising Tide of Color: The Threat Against White World-Supremacy.” He wrote: “If the present drift is not changed, we whites are all ultimately doomed. … We now know that men are not, and never will be equal. We now know that environment and education can only develop what heredity brings.”

    Another prominent eugenicist was Harry H. Laughlin, an educator and superintendent of the Eugenics Record Office, a now-defunct research group that gathered biological and social information about the American population.

    Laughlin wrote an influential 1922 book, “Eugenical Sterilization in the United States,” which included a chapter on model sterilization laws. The Third Reich used his book and laws as a template when implementing them in Germany during the height of the Nazi period.

    Laughlin also regularly testified before U.S. Congress, with this 1922 testimony representative of his message to lawmakers: “Immigration is essentially and fundamentally a racial and biological problem. There are many factors to consider, but, from the standpoint of the future, immigration is primarily a long time national investment in human family stocks.”

    Eugenicists, including Laughlin, have long been specifically preoccupied with Norwegian genetics – believing that America is under attack when immigration occurs from non-Nordic countries.

    In November 1922, Laughlin said, “Some of our finest and most desirable immigrants are from Norway.”

    In 1924, Congress approved the Immigration Act, which severely limited immigration to the U.S., established quotas for immigrants based on nationality and barred immigrants from Asia.

    It was only following the end of World War II and the Holocaust that eugenics fell out of favor and lost its prominence in American thinking.

    Trump’s recycling of history

    Fears over foreign immigrants weakening the U.S. were popular a century ago, and Trump and many of his followers still embrace them today.

    Trump has promised that he will carry out mass deportations of immigrants living in the U.S. illegally, forcibly detaining immigrants in camps and removing 1 million people a year.

    In April 2024, Trump used dehumanizing language to express his apparent belief that immigrants are unworthy of empathy. “The Democrats say, ‘Please don’t call them animals. They’re humans.’ I said, ‘No, they’re not humans, they’re not humans, they’re animals.’”

    Trump has also promoted eugenicists’ obsession with Scandinavia and the superiority of white people.

    In 2018, Trump spoke about immigrants from Haiti, El Salvador and Africa, saying “Why are we having all these people from shithole countries come here?”

    In the same meeting, Trump also reportedly suggested that the U.S. should instead draw in more people from countries like Norway.

    In April 2024, Trump again embraced this idea of Scandinavian superiority, saying that he wants immigrants from “Nice countries. You know, like Denmark, Switzerland? Do we have any people coming in from Denmark? How about Switzerland? How about Norway?”

    A dangerous flash to the past

    A person running for president in 1924 would seem more likely than a candidate in 2024 to espouse this now-discredited point of view.

    President Calvin Coolidge ran for election on an “America First” platform in 1924, with the slogan only falling out of favor after groups like the Ku Klux Klan embraced it around the same time.

    The idea of America First, at the time, denoted American nationalism and exceptionalism – but also was linked to anti-immigration and fascist movements.

    When Coolidge signed the heavily restrictive 1924 Immigration Act into law he stated, “America must remain American.”

    One hundred years later, Trump calls to mind an America First mentality, including when he regularly reads the lyrics to a song called “The Snake” during his rallies as a way to explain the dangers of welcoming immigrants into the U.S. The civil rights activist Oscar Brown wrote this poem in 1963, and his family has said that Trump misinterprets the song’s words.

    ‘I saved you,’ cried that woman.

    ‘And you’ve bit me even, why’

    ‘You know your bite is poisonous and now I’m going to die.’

    ‘Oh shut up, silly woman,’ said the reptile with a grin,

    ‘You knew damn well I was a snake before you took me in.’

    I have written a book on this and I used many of my citations in Chapter 4 to help develop this piece though I reworded or reframed it.

    ref. How Trump’s racist talk of immigrant ‘bad genes’ echoes some of the last century’s darkest ideas about eugenics – https://theconversation.com/how-trumps-racist-talk-of-immigrant-bad-genes-echoes-some-of-the-last-centurys-darkest-ideas-about-eugenics-241548

    MIL OSI – Global Reports

  • MIL-OSI Global: Israel’s ban on UNRWA continues a pattern of politicizing Palestinian refugee aid – and puts millions of lives at risk

    Source: The Conversation – USA – By Nicholas R. Micinski, Assistant Professor of Political Science and International Affairs, University of Maine

    The Israeli parliament’s vote on Oct. 28, 2024, to ban the United Nations agency that provides relief for Palestinian refugees is likely to affect millions of people – it also fits a pattern.

    Aid for refugees, particularly Palestinian refugees, has long been politicized, and the United Nations Relief and Works Agency for Palestine Refugees, or UNRWA, has been targeted throughout its 75-year history.

    This was evident earlier in the current Gaza conflict, when at least a dozen countries, including the U.S., suspended funding to the UNRWA, citing allegations made by Israel that 12 UNRWA employees participated in the attack by Hamas on Oct. 7, 2023. In August, the U.N. fired nine UNRWA employees for alleged involvement in the attack. An independent U.N. panel established a set of 50 recommendations to ensure UNRWA employees adhere to the principle of neutrality.

    The vote by the Knesset, Israel’s parliament, to ban the UNRWA goes a step further. It will, when it comes into effect, prevent the UNRWA from operating in Israel and will severely affect its ability to serve refugees in any of the occupied territories that Israel controls, including Gaza. This could have devastating consequences for livelihoods, health, the distribution of food aid and schooling for Palestinians. It would also damage the polio vaccination campaign that the UNRWA and its partner organizations have been carrying out in Gaza since September. Finally, the bill bans communication between Israeli officials and the UNRWA, which would end efforts by the agency to coordinate the movements of aid workers to prevent unintentional targeting by the Israel Defense Forces.

    Refugee aid, and humanitarian aid more generally, is theoretically meant to be neutral and impartial. But as experts in migration and international relations, we know funding is often used as a foreign policy tool, whereby allies are rewarded and enemies punished. In this context, we believe Israel’s banning of the UNRWA fits a wider pattern of the politicization of aid to refugees, particularly Palestinian refugees.

    What is the UNRWA?

    The UNRWA, short for United Nations Relief and Works Agency for Palestine Refugees in the Near East, was established two years after about 750,000 Palestinians were expelled or fled from their homes during the months leading up to the creation of the state of Israel in 1948 and the subsequent Arab-Israeli war.

    Palestinians flee their homes during the 1948 Arab-Israeli war.
    Pictures from History/Universal Images Group via Getty Images

    Prior to the UNRWA’s creation, international and local organizations, many of them religious, provided services to displaced Palestinians. But after surveying the extreme poverty and dire situation pervasive across refugee camps, the U.N. General Assembly, including all Arab states and Israel, voted to create the UNRWA in 1949.

    Since that time, the UNRWA has been the primary aid organization providing food, medical care, schooling and, in some cases, housing for the 6 million Palestinians living across its five fields: Jordan, Lebanon, Syria, as well as the areas that make up the occupied Palestinian territories: the West Bank and Gaza Strip.

    The mass displacement of Palestinians – known as the Nakba, or “catastrophe” – occurred prior to the 1951 Refugee Convention, which defined refugees as anyone with a well-founded fear of persecution owing to “events occurring in Europe before 1 January 1951.” Despite a 1967 protocol extending the definition worldwide, Palestinians are still excluded from the primary international system protecting refugees.

    While the UNRWA is responsible for providing services to Palestinian refugees, the United Nations also created the U.N. Conciliation Commission for Palestine in 1948 to seek a long-term political solution and “to facilitate the repatriation, resettlement and economic and social rehabilitation of the refugees and the payment of compensation.”

    As a result, UNRWA does not have a mandate to push for the traditional durable solutions available in other refugee situations. As it happened, the conciliation commission was active only for a few years and has since been sidelined in favor of the U.S.-brokered peace processes.

    Is the UNRWA political?

    The UNRWA has been subject to political headwinds since its inception and especially during periods of heightened tension between Palestinians and Israelis.

    While it is a U.N. organization and thus ostensibly apolitical, it has frequently been criticized by Palestinians, Israelis as well as donor countries, including the United States, for acting politically.

    The UNRWA performs statelike functions across its five fields, including education, health and infrastructure, but it is restricted in its mandate from performing political or security activities.

    Initial Palestinian objections to the UNRWA stemmed from the organization’s early focus on economic integration of refugees into host states.

    Although the UNRWA officially adhered to the U.N. General Assembly’s Resolution 194 that called for the return of Palestine refugees to their homes, U.N., U.K. and U.S. officials searched for means by which to resettle and integrate Palestinians into host states, viewing this as the favorable political solution to the Palestinian refugee situation and the broader Israeli-Palestinian conflict. In this sense, Palestinians perceived the UNRWA to be both highly political and actively working against their interests.

    In later decades, the UNRWA switched its primary focus from jobs to education at the urging of Palestinian refugees. But the UNRWA’s education materials were viewed by Israel as further feeding Palestinian militancy, and the Israeli government insisted on checking and approving all materials in Gaza and the West Bank, which it has occupied since 1967.

    A protester is removed by members of the U.S. Capitol Police during a House hearing on Jan. 30, 2024.
    Alex Wong/Getty Images

    While Israel has long been suspicious of the UNRWA’s role in refugee camps and in providing education, the organization’s operation, which is internationally funded, also saves Israel millions of dollars each year in services it would be obliged to deliver as the occupying power.

    Since the 1960s, the U.S. – the UNRWA’s primary donor – and other Western countries have repeatedly expressed their desire to use aid to prevent radicalization among refugees.

    In response to the increased presence of armed opposition groups, the U.S. attached a provision to its UNRWA aid in 1970, requiring that the “UNRWA take all possible measures to assure that no part of the United States contribution shall be used to furnish assistance to any refugee who is receiving military training as a member of the so-called Palestine Liberation Army (PLA) or any other guerrilla-type organization.”

    The UNRWA adheres to this requirement, even publishing an annual list of its employees so that host governments can vet them, but it also employs 30,000 individuals, the vast majority of whom are Palestinian.

    Questions over links of the UNRWA to any militancy has led to the rise of Israeli and international watch groups that document the social media activity of the organization’s large Palestinian staff.

    In 2018, the Trump administration paused its US$60 million contribution to the UNRWA. Trump claimed the pause would create political pressure for Palestinians to negotiate. President Joe Biden restarted U.S. contributions to the UNRWA in 2021.

    While other major donors restored funding to the UNRWA after the conclusion of the investigation in April, the U.S. has yet to do so.

    ‘An unmitigated disaster’

    Israel’s ban of the UNRWA will leave already starving Palestinians without a lifeline. U.N. Secretary General António Guterres said banning the UNRWA “would be a catastrophe in what is already an unmitigated disaster.” The foreign ministers of Canada, Australia, France, Germany, Japan, South Korea and the U.K. issued a joint statement arguing that the ban would have “devastating consequences on an already critical and rapidly deteriorating humanitarian situation, particularly in northern Gaza.”

    Reports have emerged of Israeli plans for private security contractors to take over aid distribution in Gaza through dystopian “gated communities,” which would in effect be internment camps. This would be a troubling move. In contrast to the UNRWA, private contractors have little experience delivering aid and are not dedicated to the humanitarian principles of neutrality, impartiality or independence.

    However, the Knesset’s explicit ban could, inadvertently, force the United States to suspend weapons transfers to Israel. U.S. law requires that it stop weapons transfers to any country that obstructs the delivery of U.S. humanitarian aid. And the U.S. pause on funding for the UNRWA was only meant to be temporary.

    The UNRWA is the main conduit for assistance into Gaza, and the Knesset’s ban makes explicit that the Israeli government is preventing aid delivery, making it harder for Washington to ignore. Before the bill passed, U.S. State Department Spokesperson Matt Miller warned that “passage of the legislation could have implications under U.S. law and U.S. policy.”

    At the same time, two U.S. government agencies previously alerted the Biden administration that Israel was obstructing aid into Gaza, yet weapons transfers have continued unabated.

    Sections of this story were first used in an earlier article published by The Conversation U.S. on Feb. 1, 2024.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Israel’s ban on UNRWA continues a pattern of politicizing Palestinian refugee aid – and puts millions of lives at risk – https://theconversation.com/israels-ban-on-unrwa-continues-a-pattern-of-politicizing-palestinian-refugee-aid-and-puts-millions-of-lives-at-risk-242379

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Charitable and voluntary organisations set to receive £4.5 million29 October 2024 The Chief Minister and Minister for External Relations intend to allocate £4. 5 million from the Jersey Reclaim Fund, which will be distributed to local charitable and voluntary organisations over the… Read more

    Source: Channel Islands – Jersey

    29 October 2024

    The Chief Minister and Minister for External Relations intend to allocate £4.5 million from the Jersey Reclaim Fund, which will be distributed to local charitable and voluntary organisations over the next three years. 

    Set up in 2017, the Jersey Reclaim Fund is administered by the government and made up of balances in dormant bank accounts in Jersey where contact has been lost with the customer for more than 15 years. 

    The funds will be allocated by​ the Jersey Community Foundation (JCF). 

    The Ministers now wish to provide a three-year funding package for 2025 – 2027 of at least £4.5m to provide sustained support to charities and voluntary organisations, and appropriate arrangements are being made to enable the change to be implemented. As well as supporting the community, charities can use part of their grants to sustain or strengthen the resilience and sustainability of their organisation. 

    The Minister for External Relations, Deputy Ian Gorst, who has responsibility for financial services, said: “This package will provide increased financial support for charities and voluntary organisations over a longer period, increasing confidence and recognising their invaluable contribution to our society. I’m grateful to all those financial services institutions who support the Reclaim Fund, and to the JCF for their continued work. 

    “We are also discussing with the JCF other schemes to match fund large private donations, and hope to have further announcements later in the year.” 

    The Chief Minister, Deputy Lyndon Farnham, said: “The Jersey Community Foundation has supported more than 450 recipients since it was established in 2020, helping charities and voluntary organisations to continue their central role in the life of our Island. 

    “Against the backdrop of recent economic conditions, this government is committed to increasing and strengthening support for the sector.” ​

    MIL OSI United Kingdom

  • MIL-OSI: VT Insurance Agency LLC Selects Applied Digital Agency to Optimize Niche Commercial Lines Workflows

    Source: GlobeNewswire (MIL-OSI)

    Chicago, IL., Oct. 29, 2024 (GLOBE NEWSWIRE) — Applied Systems® today announced that VT Insurance Agency LLC, a niche agency specializing in aerial application risks for fixed wing, rotor wing, and drone insurance, has selected Applied Digital Agency to automate the end-to-end commercial lines new business and remarketing workflows. VT Insurance Agency LLC leveraged the flexibility of Applied Epic and its Applied marketing, customer service, payments hub and submissions management applications to meet its unique business needs, reducing duplicative data entry and keeping information easily accessible to optimize the team’s operational and customer service efforts.

    “As our agency grew, we experienced inefficiencies with our previous agency management system due to the number of unnecessary clicks and data re-entry needed to market and service accounts,” said Vaughn Tolbert, owner, VT Insurance Agency LLC and national board member of the Unmanned Pilots Associate for Safety and Standards (U-Pass). “Applied Epic’s modern, customizable technology stood out to us because we were able to integrate our marketing and policy workflows and build out aviation-specific forms that populate information directly from Applied Epic, allowing data to flow through each step of the workflow and give more time to our customers.”

    Applied’s Digital Agency solution consists of a foundational management system, payment hub, online customer self-service and mobile technology, commercial lines application digitization and automation, and insurer connectivity, all hosted in the cloud. The fully integrated solution enables agencies to create higher-value business transactions and deliver superior customer experiences throughout the entire insurance lifecycle. By leveraging integrated applications that enable agencies to manage their entire business and eliminate duplicative work typically caused by multiple, disparate systems, digital agencies operate more efficiently, improve customer service, and accelerate growth and profitability across all lines of business.

    “Independent agents with lean teams must be strategic about the technology they use to enable their unique workflows and keep their bottom line in check,” said Anupam Gupta, chief product officer, Applied Systems. “Applied Digital Agency’s connected workflows and flexible infrastructure allow niche agencies to easily reuse account and policy data they’ve entered once across fields and forms throughout the insurance lifecycle, helping them work smarter and faster, and ultimately increase profitability.”

    # # #

     

    The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

     

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    About VT Insurance Agency LLC
    VT Insurance Agency is the nation’s leading aerial application drone insurance agency, with a strong focus on agricultural drones. The agency carries 75%-80% of all legal aerial application drone policies, offering Property and Casualty insurance services such as aerial application drone/aircraft, pleasure and business drone/aircraft, aviation commercial general liability, products and completed operations, premises, commercial auto, workers’ compensation, and inventory. VT Insurance Agency is a proud national board member of the Unmanned Pilots Associate for Safety and Standards (U-Pass) and regularly helps push for regulation changes for drones in state and federal agencies.

    The MIL Network

  • MIL-OSI United Kingdom: Wales and Netherlands mark 80th anniversary of city’s liberation

    Source: United Kingdom – Executive Government & Departments

    Wales Office Minister Dame Nia Griffith and Deputy First Minister Huw Irranca-Davies, have attended commemorations of the liberation of ‘s-Hertogenbosch in 1944 by the 53rd Welsh Infantry Division.

    Wales Office Minister Nia Griffith and Deputy First Minister Huw Irranca-Davies holdling a wreath each.

    ‘s-Hertogenbosch, also known as Den Bosch, has maintained strong links to Wales ever since. The city features many tributes to the sacrifices of the Welsh people. A war memorial in the town honours Welsh soldiers who fought for its freedom, and the names of the 146 Welsh soldiers who gave their lives for the town are displayed on its bridge. There is also a Welsh cross in the cathedral with the names of the Welsh soldiers engraved on the windows of the ‘Welsh rooms’ in the town hall.

    Wales Office Minister Nia Griffith and the Deputy First Minister Huw Irranca-Davies each laid a wreath, attended a parade walk and the remembrance service to honour the soldiers.

    A large delegation from Wales visited the city, including representatives from cultural and military organisations, and families of the veterans involved – known as ‘the liberators’.

    In 1995, the Pontypridd branch of The Royal Welsh Regimental Association established a link with the city of s’-Hertogenbosch.  An annual dinner was established in Pontypridd to commemorate the battle and officials from Den Bosch continue to attend to this day.

    In April 2019, to commemorate the liberation of their town, 26 Dutch city employers cycled 400 miles to Cardiff, stopping off at various locations including Crickhowell, Pontypridd and Caerphilly. This event culminated in a ceremony for the handover of a Davy Lamp containing a symbolic ‘Flame of Freedom’. The cyclists took this back to s’-Hertogenbosch where it will burn until the commemorations this weekend.

    This year a group have cycled over 300 miles from Pontypridd to Den Bosch to mark the anniversary, organised by Gareth Pennell who was honoured as a freeman of the Dutch city in 2019 in honour of his work on commemorations over the years.

    Wales Office Minister, Dame Nia Griffith said: 

    It is so important that we take time to reflect on the events of 80 years ago and honour those from the 53rd Welsh Infantry Division who fought and died alongside civilians in order to liberate ‘s-Hertogenbosch.

    It is a privilege to represent the UK Government at this commemoration and help make sure that the sacrifice of so many lives is not forgotten.

    The Deputy First Minister, Huw Irranca-Davies, said: 

    The commemorations this weekend serve as a poignant opportunity for us to remember, reflect and recognise those who served and those who paid the ultimate price for the liberation of this city; they will be remembered. Their sacrifices enable us all to live our lives with the freedom we have today.

    It is our duty to remember what happened here in Den Bosch and ensure future generations understand that, so we can learn the lessons and ensure peace for generations to come.

    Wales has an important relationship with Den Bosch, and we hope to see this continue and grow through economic and cultural ties.

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Canada: Canada imposes sanctions as violence in Myanmar escalates

    Source: Government of Canada News (2)

    The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced sanctions under the Special Economic Measures (Burma) Regulations against 3 individuals and 4 entities for supplying weapons and military equipment to the Myanmar military.

    October 29, 2024 – Ottawa, Ontario – Global Affairs Canada

    The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced sanctions under the Special Economic Measures (Burma) Regulations against 3 individuals and 4 entities for supplying weapons and military equipment to the Myanmar military.

    The sanctions announced today, in coordination with the United Kingdom and the European Union, respond to the ongoing and increasing aerial attacks by the Myanmar military regime. Over the last six months, military airstrikes killed almost 400 civilians, including more than 60 children, and injured more than 750 people

    These attacks are a grave breach of international peace and security and violate the basic principles of democracy and respect for human rights. The conflict has resulted in a worsening humanitarian crisis and increased instability as the regime escalates violence to assert its authority. 

    Imposing these sanctions on individuals and entities under the Special Economic Measures Act (SEMA) is in direct response to these actions and to those supplying weapons, military equipment, key resources and revenue to the Myanmar military.

    Canada continues to urge all countries to impose similar measures. We call on the international community to suspend all support to the Myanmar military, including the transfer of weapons, materiel, aviation fuel, equipment, and technical assistance to the Myanmar military.  

    Canada will continue to support the aspirations of the people of Myanmar and those who work peacefully to advance a peaceful, inclusive, democratic future. 

    MIL OSI Canada News

  • MIL-OSI Global: The ancient Irish get way too much credit for Halloween

    Source: The Conversation – USA – By Lisa Bitel, Dean’s Professor of Religion & Professor of History, USC Dornsife College of Letters, Arts and Sciences

    The Celtic festival of Samhain celebrates a time of year when the division between Earth and the otherworld collapses, allowing spirits to pass through. Matt Cardy/Getty Images

    This time of year, I often run across articles proclaiming Halloween a modern form of the pagan Irish holiday of Samhain – pronounced SAW-en. But as a historian of Ireland and its medieval literature, I can tell you: Samhain is Irish. Halloween isn’t.

    The Irish often get credit – or blame – for the bonfires, pranksters, witches, jack-o’-lanterns and beggars who wander from house to house, threatening tricks and soliciting treats.

    The first professional 19th-century folklorists were the ones who created a through line from Samhain to Halloween. Oxford University’s John Rhys and James Frazer of the University of Cambridge were keen to find the origins of their national cultures.

    They observed lingering customs in rural areas of Britain and Ireland and searched medieval texts for evidence that these practices and beliefs had ancient pagan roots. They mixed stories of magic and paganism with harvest festivals and whispers of human sacrifice, and you can still find echoes of their outdated theories on websites.

    But the Halloween we celebrate today has more to do with the English, a ninth-century pope and America’s obsession with consumerism.

    A changing of the seasons

    For two millennia, Samhain, the night of Oct. 31, has marked the turn from summer to winter on the Irish calendar. It was one of four seasonal signposts in agricultural and pastoral societies.

    After Samhain, people brought the animals inside as refuge from the long, cold nights of winter. Imbolc, which is on Feb. 1, marked the beginning of the lambing season, followed by spring planting. Beltaine signaled the start of mating season for humans and beasts alike on May 1, and Lughnasadh kicked off the harvest on Aug. 1.

    But whatever the ancient Irish did on Oct. 31 is lost to scholars because there’s almost no evidence of their pagan traditions except legends written by churchmen around 800 A.D., about 400 years after the Irish started turning Christian. Although they wrote about the adventures of their ancestors, churchmen could only imagine the pagan ways that had disappeared.

    A neopagan celebration of Samhain in October 2021.
    Wikimedia Commons, CC BY-SA

    An otherworld more utopian than terrifying

    These stories about the pagan past told of Irish kings holding annual weeklong feasts, markets and games at Samhain. The day ended early in northwestern Europe, before 5 p.m., and winter nights were long. After sundown, people went inside to eat, drink and listen to storytellers.

    The stories did not link Samhain with death and horror. But they did treat Samhain as a night of magic, when the otherworld – what, in Irish, was known as the “sí” – opened its portals to mortals. One tale, “The Adventure of Nera,” warned that if you went out on Samhain Eve, you might meet dead men or warriors from the sí, or you might unknowingly wander into the otherworld.

    When Nera went out on a dare, he met a thirsty corpse in search of drink and unwittingly followed warriors through a portal into the otherworld. But instead of ghosts and terror, Nera found love. He ended up marrying a “ban sídh” – pronounced “BAN-shee” – an otherworldly woman. But here’s the medieval twist to the tale: He lived happily ever after in this otherworld with his family and farm.

    The Irish otherworld was no hell, either. In medieval tales, it is a sunny place in perpetual spring. Everyone who lives there is beautiful, powerful, immortal and blond. They have good teeth. The rivers flow with mead and wine, and food appears on command. No sexual act is a sin. The houses sparkle with gems and precious metals. Even the horses are perfect.

    Clampdown on pagan customs

    The link between Oct. 31, ghosts and devils was really the pope’s fault.

    In 834, Pope Gregory IV decreed Nov. 1 the day for celebrating all Christian saints. In English, the feast day became All Hallows Day. The night before – Oct. 31 – became known as All Hallows Eve.

    Some modern interpretations insist that Pope Gregory created All Hallows Day to quell pagan celebrations of Samhain. But Gregory knew nothing of ancient Irish seasonal holidays. In reality, he probably did it because everyone celebrated All Saints on different days and, like other Popes, Gregory sought to consolidate and control the liturgical calendar.

    In the later Middle Ages, All Hallows Eve emerged as a popular celebration of the saints. People went to church and prayed to the saints for favors and blessings. Afterward, they went home to feast. Then, on Nov. 2, they celebrated All Souls’ Day by praying for the souls of their lost loved ones, hoping that prayers would help their dead relatives out of purgatory and into heaven.

    But in the 16th century, the Protestant rulers of Britain and Ireland quashed saints’ feast days, because praying to saints seemed idolatrous. Protestant ministers did their best to eliminate popular customs of the early November holidays, such as candle-lit processions and harvest bonfires.

    In the minds of ministers, these customs smacked of heathenism.

    A mishmash of traditions

    Our Halloween of costumed beggars and leering jack-o’-lanterns descends from this mess of traditions, storytelling and antiquarianism.

    Like our ancestors, we constantly remake our most important holidays to suit current culture.

    Jack-o’-lanterns are neither ancient nor Irish. One of the earliest references is an 18th-century account of an eponymous Jack, who tricked the devil one too many times and was condemned to wander the world forever.

    Supposedly, Jack, or whatever the hero was called, carved a turnip and stuck a candle in it as his lantern. But the custom of carving turnips in early November probably originated in England with celebrations of All Saints’ Day and another holiday, Guy Fawkes Day on Nov. 5, with its bonfires and fireworks, and it spread from there.

    Guy Fawkes Day, an annual celebration in Great Britain, features fireworks and bonfires and is observed on Nov. 5.
    Hulton-Deutsch Collection/Corbis via Getty Images

    As for ancient bonfires, the Irish and Britons built them to celebrate Beltaine, but not Samhain – at least, not according to the medieval tales.

    In 19th-century Ireland, All Hallows Eve was a time for communal suppers, games like bobbing for apples and celebrating the magic of courtship. For instance, girls tried to peel apples in one long peel; then they examined the peels to see what letters they resembled – the initials of their future husbands’ names. Boys crept out of the gathering, despite warnings, to make mischief, taking off farm gates or stealing cabbages and hurling them at the neighbors’ doors.

    Halloween with an American sheen

    Across the Atlantic, these customs first appeared in the mid-19th century, when the Irish, English and many other immigrant groups brought their holidays to the U.S.

    In medieval Scotland, “guisers” were people who dressed in disguise and begged for “soul cakes” on All Souls Day. These guisers probably became the costumed children who threatened – and sometimes perpetrated – mischief unless given treats. Meanwhile, carved turnips became jack-o’-lanterns, since pumpkins were plentiful in North America – and easier to carve.

    Like Christmas, Valentine’s Day and Easter, Halloween eventually became a feast of consumerism. Companies mass-produced costumes, paper decorations and packaged candy. People in Britain and Ireland blamed the Americans for the spread of modern Halloween and its customs. British schools even tried to quash the holiday in the 1990s because of its disorderly and demonic connotations.

    The only real remnant of Samhain in Halloween is the date. Nowadays, no one expects to stumble into a romance in the sí. Only those drawn to the ancient Celtic past sense the numinous opening of the otherworld at Samhain.

    But who’s to say which reality prevails when the portals swing open in the dark of Oct. 31?

    Lisa Bitel does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. The ancient Irish get way too much credit for Halloween – https://theconversation.com/the-ancient-irish-get-way-too-much-credit-for-halloween-239801

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: UK, EU and Canada impose new sanctions targeting Myanmar military regime and its associates

    Source: United Kingdom – Executive Government & Departments

    The UK, EU and Canada have announced further sanctions targeting the Myanmar military’s access to military material, equipment and funds.

    • The UK, EU and Canada have announced a further round of sanctions to increase pressure on the Myanmar military regime and its associates.  

    • UK sanctions target entities supplying aviation fuel and equipment to the Myanmar military. August 2024 saw the highest number of airstrikes on record by the Myanmar military, killing dozens of civilians.  

    The UK, EU and Canada have announced further sanctions targeting the Myanmar military’s access to military material, equipment and funds.  

    UK action will help to constrain the Myanmar military’s ability to conduct airstrikes on civilians, which amount to gross human rights violations.  

    The latest round of UK sanctions is against six entities involved either in providing aviation fuel to the Myanmar military or in the supply of restricted goods, including aircraft parts. Today’s announcement bolsters previous sanctions against suppliers of aviation fuel to the military in February and March 2023 and arms dealers in October 2023.  

    The UK will continue to work with partners to restrict the sale and transfer of arms and finance to the Myanmar military. Since the coup, the UK has provided more than £150 million for life-saving humanitarian assistance, healthcare, education and support for civil society and local communities in Myanmar.

    Minister for the Indo-Pacific, Catherine West said:  

    The human rights violations taking place across Myanmar, including airstrikes on civilian infrastructure, by the Myanmar military is unacceptable and the impact on innocent civilians is intolerable. 

    That is why today the UK is announcing fresh sanctions targeting the suppliers of equipment and aviation fuel to the Myanmar military. Alongside the EU and Canada, we are today further constraining the military’s access to funds, equipment and resources. 

    These sanctions will increase pressure on the Myanmar military. The UK remains steadfast in our support for the Myanmar people and their aspirations for a peaceful and democratic future.

    On 1 February 2021, the Myanmar military overthrew the democratically elected government, led by Aung San Suu Kyi, and installed a military regime. Since then, they have used violence and atrocities to maintain power and suppress any opposition voices. Increasingly brutal tactics have been implemented as the military continue to cling on to power, leading to the highest number of airstrikes on record by the Myanmar military this August (2024), killing dozens of civilians. 

    Over 3.4 million people are now displaced from their homes due to the fighting, over 18 million people are in need of humanitarian assistance, and Myanmar is now seeing a proliferation in serious and organised crime. 

    Background  

    Since the coup, the UK has designated 25 individuals and 33 entities under the Myanmar Sanctions Regime. The UK continues to lead international efforts to undermine the regime’s credibility and constrain their access to revenue and arms. 

    Today the UK has sanctioned: 

    1. Asia Sun Group Company Limited – for being owned or controlled by Zaw Min Tun, a Myanmar businessman previously sanctioned by the UK in 2023 for making available economic resources, namely aviation fuel, directly or indirectly to or for the benefit of the Myanmar security forces. 

    2. Swan Energy Company Limited – for being associated with Asia Sun Trading Company Limited and by for making available economic resources (aviation fuel) directly or indirectly to or for the benefit of the Myanmar security forces.  

    3. Myan-Oil Company Limited – for being associated with Asia Sun Trading Company Limited. 

    4. Rich Ray Trading Company Limited – for being associated with Asia Sun Trading Company Limited and by making available economic resources (aviation fuel) directly or indirectly to or for the benefit of the Myanmar security forces. 

    5. Progress Technology Support Company (a.k.a Royal Shune Lei Co) – for being involved in the supply to Myanmar of restricted goods or restricted technology or of material related to such goods or technology.  

    6. King Royal Technologies Company Limited- for being involved in the supply to Myanmar of goods or technology which could contribute to a serious human rights violation or abuse.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

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

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: New Independent Chair for Dartmoor Land Use Management Group

    Source: United Kingdom – Executive Government & Departments

    The government has appointed Phil Stocker as Independent Chair of the newly formed Dartmoor Land Use Management Group

    Phil Stocker has been appointed as Independent Chair of the Dartmoor Land Use Management Group, as the government moves forward with recommendations to create a long-term plan for land use which preserves the cultural heritage of the area, recovers nature and boosts food production.

    Mr Stocker has strong technical knowledge of farming and the environment and is recognised as progressive ensuring we are balancing food production with nature’s recovery. He has previously held posts at both the Soil Association and RSPB prior to his current role as Chief Executive for the National Sheep Association.

    Phil Stocker is also the Chairman of the Black Mountains Land Use Partnership which has given him unique extensive experience of managing different interests in delivering cooperative and sustainable land management in an upland setting. 

    Appointed through an open recruitment process, Phil Stocker has over 40 years’ experience in agriculture and land management. This included 15 years leading the Soil Association’s support work for its organic farmer and grower members. His varied background and leadership experience puts him in good stead for the role.

    The Dartmoor Land Use Management Group will provide a space for stakeholders to discuss important issues and work to strike the right balance between food security and preserving the diversity and abundance of nature in the area. Mr Stocker will be responsible for steering the Land Use Management Group to meet its aims and objectives. This includes oversight and delivery of the other 25 recommendations attributed to the group, put forward in the response to the review, and ensuring effective ways of working throughout.  

    As Chair, his first task will be to identify and appoint members who bring the necessary knowledge, expertise and engagement to the group. Defra will also review and confirm the appointments to ensure the group has a balanced membership with representation from different stakeholder groups.  

    Food Security and Rural Affairs Minister Daniel Zeichner said:

    Dartmoor is a breathtaking landscape with unique challenges. The area has one of the largest semi-natural moorland habitats in the country and over recent years the relationship between farming, nature and other impacts, such as climate change have lacked balance.

    With more than 40 years’ experience working in farming and the environment, I am delighted that Phil Stocker has been appointed. He is uniquely placed to consider the needs of our land: restoring nature, boosting food production and preserve its beauty for generations to come.

    Phil Stocker, Independent Chair of the Dartmoor Land Use Management Group, said:

    It is an honour to have been appointed as Independent Chair of the Dartmoor Land Use Management Group. This is a role that comes with great responsibility, and one which I have not taken on lightly.

    As someone who has worked on agriculture and land management across my career, I know only too well the delicate balance between nature and food production.

    It is now my intention to bring people together to ensure that the group delivers a land use plan that reflects the evidence and will create a sustainable future for Dartmoor.

    Andrea Ayres, Natural England Deputy Director for Devon, Cornwall and Isles of Scilly, said:

    We are working hard to find solutions with farmers and land managers on Dartmoor, and I am confident that Phil Stocker’s leadership will strike the right balance between protecting environmental objectives and preserving grazing on the commons.

    There are a wide range of stakeholders and challenges in Dartmoor and it’s important that all parties come together to build a sustainable vision for the future of this precious landscape.

    Kevin Bishop, Chief Executive, Dartmoor National Park Authority said:

    We want to see thriving farm businesses in Dartmoor that are delivering a high-quality environment that is alive with nature and with opportunities for all to enjoy and cherish this special place.

    We welcome the establishment of the Dartmoor Land Use Management Group and look forward to supporting the group deliver land management solutions that help achieve the vision in the Dartmoor Partnership Plan.

    The creation of the Dartmoor Land Use Management Group was a key proposal made by the Dartmoor Independent Review and the Government supports the recommendations of the Review.

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Europe: The EBA asks for input to entities falling within the scope of initial margin model authorisation under the revised European Market Infrastructure Regulation

    Source: European Banking Authority

    The European Banking Authority (EBA), in cooperation with the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA), launched today a short survey addressed to entities within the scope of the initial margin (IM) model authorisation regime introduced by the upcoming revised European Market Infrastructure Regulation (EMIR 3). The deadline for submitting responses is Friday 29 November 2024.

    EMIR 3 will introduce important novelties, such as:

    • an authorisation regime for IM models used by counterparties in the EU;
    • a new EBA central validation function for pro-forma margin models (such as ISDA SIMM);
    • a supervision of IM models with greater focus on larger counterparties.

    The EBA, in cooperation with ESMA and EIOPA, is seeking general information on entities within the scope of IM model authorisation, as well as specific information relevant for fee calculation and on initial margins and IM models used.

    This information will guide the EBA in the setup of its central validation function and inform the EBA’s response to the EU Commission’s Call for advice on a possible Delegated Act on fees received on 31 July 2024. The information will also be used to develop proportionate requirements for entities within the scope of IM model authorisation, especially for smaller entities (the so called “Phase 5” and “Phase 6” entities) – as part of upcoming mandates under EMIR 3.

    Consultation process

    Entities currently subject to the requirement to exchange initial margin – in accordance with EMIR and under Article 36 of Commission Delegated Regulation (EU) 2016/2251 (the joint ESAs RTS on uncleared OTC derivatives) –  and using at least one IM model to comply with that requirement, are expected to fill in the survey. All entities of a group that are subject to this requirement are expected to fill in the survey separately, at entity level.

    Responses should be submitted by Friday, 29 November 2024, via the online tool that can be accessed under the following link: https://ec.europa.eu/eusurvey/runner/IMMVEMIR3

    To access the survey, a password must be used, which can be obtained from trade associations and competent authorities. Non-supervised entities can contact eba-immv@eba.europa.eu.

    Questions on the survey should be submitted via the contact form available in the online survey tool.

    Next steps

    Closer to the EMIR 3 publication, the EBA will publish on its website operational clarifications aimed to ensure a smooth, convergent entry into force of EMIR 3 requirements in the EU.

    Legal basis and background

    On 7 December 2022, the Commission published its proposal to amend EMIR as regards measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets. On 7 February 2024, the European Parliament and the Council reached a political agreement on a compromise text (EMIR 3), which was formally endorsed by the two institutions respectively on 4 March 2024 and 14 February 2024.

    EMIR 3 is expected, in accordance with its Article 11(12a), to grant EBA the additional task to set up a central validation function for the elements and general aspects of pro-forma models (such as ISDA SIMM), and changes thereto, used or to be used by a subset of financial and non-financial counterparties as part of the risk mitigation techniques used on their portfolios of non-centrally cleared OTC derivatives.

    On 31 July 2024, the EBA received a Call for advice on a possible Delegated Act on fees to be charged to financial and non-financial counterparties requiring the validation by EBA of pro-forma models, with the request to submit its response by Q2 2025. As part of its response, the EBA is requested to provide a ‘quantitative and qualitative cost-benefit analysis of all the options considered and proposed’ and to ‘widely consult market participants’.

    MIL OSI Europe News

  • MIL-OSI Europe: AFRICA/NIGERIA – Rector of a seminary offers himself as hostage in exchange for two students

    Source: Agenzia Fides – MIL OSI

    Abuja (Agenzia Fides) – Father Thomas Oyode, the latest in a long list of priests kidnapped in Nigeria, offered himself as hostage in exchange for two students.On Sunday 27 October, around 7pm, armed men attacked the “Immaculate Conception Minor Seminary School” in Agenegabode, in the local government area of Etsako East of Edo State, in southern Nigeria. According to various sources, after entering the seminary, the attackers first fired shots in the air and then kidnapped two students from the school. When he heard the shots, Father Thomas, the Rector of the minor Seminary, went out into the courtyard and faced the bandits with the two students and offered himself as a hostage in exchange for the two students. The kidnappers accepted the priest’s request and exchanged him for the two students. He was then abducted by the bandits into the bush. Meanwhile, a manhunt has been launched to find the kidnappers and free Father Thomas.In a statement, the Diocese of Auchi also confirmed the incident, adding: “The vice-rector and all the seminarians have been located and are safe and have been temporarily moved to a safe place until security measures around the minor seminary are strengthened”. (L.M.) (Agenzia Fides, 29/10/2024)
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