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Category: Europe

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

    Source: Bank of Finland

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

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

    Ladies and Gentlemen, Dear Friends,

    Good morning everyone!

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

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

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

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

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

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

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

    Slide 3: Sturdy capital buffers provide banking resilience

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

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

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

    Slide 4: Key risks for EU financial stability

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Dear Friends,

    Slide 6: Three priorities in the way we work

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

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

    Let me just elaborate on these a little more.

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

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

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

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

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

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

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

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

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

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

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

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

    Dear Friends,

    Let me now conclude.

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

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

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

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

    Thank you for your kind attention!

    Presentation (PDF)

    Olli Rehn ESRB financial stability speech

    MIL OSI Economics –

  • MIL-OSI China: Lebanese FM condemns Israeli military actions, urges int’l intervention

    Source: China State Council Information Office

    Lebanese Foreign Minister Abdallah Bou Habib condemned on Thursday Israel’s recent military actions along the Lebanese-Israeli border and called for urgent international intervention to prevent the situation from escalating.

    “We are facing a crisis that threatens Lebanon’s very existence. The future of our people and our prosperity is imperiled,” said Bou Habib when addressing the 79th United Nations General Assembly.

    “This is a situation that requires international intervention on an urgent basis before the situation spirals out of control… which will transform into a black hole that will engulf regional, international peace and security,” he said.

    Bou Habib condemned Israel’s recent military actions, accusing it of escalating the conflict. “One of the gravest challenges Lebanon currently faces is this increase in aggression. The war has expanded and spilled over into Lebanese regions. We reiterate our warning against this aggression, which will continuously intensify.”

    The foreign minister identified the unresolved issue of occupation, particularly regarding border disputes with Israel, as the root cause of Lebanon’s ongoing instability.

    “So long as the occupation persists, there will be instability and there will be war… we have striven to resolve border disputes with Israel. However, Israel has continuously eluded the issue or disregarded the matter,” he said.

    While underscoring Lebanon’s right to defend itself under international law, Bou Habib stressed that the solution to the crisis lies in diplomacy, not war.

    Bou Habib welcomed a recent declaration of the United States and France which offers a potential path to restoring calm and ensuring stability along Lebanon’s borders. He urged all parties involved to implement UN Security Council Resolution 1701, which calls for an end to hostilities between Israel and Lebanon.

    MIL OSI China News –

  • MIL-OSI Translation: How to protect yourself against attempts to steal your personal or banking data?

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

    Source: Republic of France in FrenchThe French Republic has issued the following statement:

    The platform “Bank Savings Insurance Info Service” was set up jointly by the Banque de France, the Prudential Supervision and Resolution Authority (ACPR) and the Financial Markets Authority (AMF). Its “Scam Prevention” section has been reorganized to help you better detect scams and have the right reflexes when faced with new techniques used by scammers who want to trap you. Among other things, you have access to a Official Scam Prevention Guide, telling you how to protect yourself against phishing.

    Phishing is a fraudulent technique that involves tricking you into sharing your personal data (access codes, passwords, etc.) and/or your bank details with a criminal who pretends to be a trusted third party.

    To protect yourself from these scam attempts, it is particularly recommended:

    to be attentive to the level of language of the messages you receive (fraudulent messages are now often correctly written, but if you receive a message from a bank or an administration containing typos, spelling mistakes or inappropriate expressions, it is because it is not the work of the indicated establishment); to check the links present in the suspicious emails that you receive (before clicking on a possible link, place your mouse over it so that the full address of the link appears then make sure that this link is coherent and points to a legitimate site); to be wary of requests that seem strange to you (no organization has the right to ask you for your credit card code, or the access codes and passwords of your personal spaces); to use an ad-blocking software, an anti-spam filter, or to activate the warning option against phishing present on most browsers; never click directly on the ad when you see a pop-up window open while browsing the internet, even if a close button appears within the pop-up window itself. Always use the cross (X) in the corner of the window.

    If you have serious doubts about a message you have received, there is a good chance that it is not legitimate. It is then recommended not to open attachments and not to respond. You should delete the message and then empty the trash of your mailbox.

    If this is your work email account, it is recommended to forward the suspicious email to your company’s IT department and information security officer for verification. Wait for their response before deciding whether or not to delete the email.

    Namely

    If you think you have been the victim of a scam or attempted phishing scam via spam, report it to signal-spam.fr. Your report will be assigned to authorities or professionals able to take action against this spam.

    Please note

    The scam prevention guide distributed by the “Assurance Banque Épargne Info Service” platform also provides you with advice to protect yourself against:

    fake administrative sites that offer to help you, for a fee, with certain common administrative procedures (requests for driving licenses, vehicle registration documents, birth certificates, etc.); fraudulent calls for donations launched by entities or websites not authorized to carry out this activity in France; fraudulent offers of credit or savings products with particularly attractive conditions; bank check scams; online payment fraud.

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

    MIL Translation OSI

  • MIL-OSI China: Russia’s nuclear doctrine changes ‘signal’ Western states

    Source: China State Council Information Office 3

    File photo taken on Dec. 19, 2019 shows Kremlin spokesman Dmitry Peskov at Russian President Vladimir Putin’s annual press conference in Moscow, Russia. [Photo/Xinhua]

    Any potential changes to Russia’s nuclear doctrine will serve as a warning to Western countries, local media reported Thursday, citing Kremlin spokesman Dmitry Peskov.

    During a Security Council meeting on nuclear deterrence Wednesday, Russian President Vladimir Putin said that the country reserves the right to use nuclear weapons in the event of aggression.

    “This is a signal that serves as a warning to these countries about the consequences of engaging in an attack on our country through various means, not necessarily nuclear,” Peskov said.

    Peskov added that Russia’s nuclear deterrence policies are currently being adjusted to reflect the increasing tensions along the country’s borders.

    MIL OSI China News –

  • MIL-OSI Russia: We invite you to the II Eurasian Marketing Conference “Marketing of Economic Growth”

    MILES AXLE Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    The State University of Management invites you to take part in the II Eurasian Marketing Conference “Marketing of Economic Growth”, which will be held on November 29-30, 2024 at the State University of Management.

    The aim of the conference is to discuss the impact of marketing on economic growth in the context of destabilization of political, market and social processes.

    The topics of the plenary discussion cover the main areas:

    — The role of Russian marketing in overcoming the negative impact of economic sanctions; — Marketing technologies for developing vacant market niches; — Successes and problems of using digital technologies to accelerate sales; — Reasons for the slow development of B2B marketing; — Acceleration of the implementation of high-tech solutions to achieve import independence based on marketing models, technologies and tools; — New industries and areas of activity for marketers.

    The conference will include the following sections:

    Section 1. Marketing in Greater Eurasia: experience and trends; Section 2. Marketing of innovative products: conquering market niches; Section 3. Development of industrial marketing; Section 4. New digital marketing solutions; Section 5. Loyalty and gamification in marketing; Section 6. Personalization in marketing: finding relevant buyers; Section 7. Marketing technologies in retail and marketplaces; Section 8. Design and capitalization of sustainable brands; Section 9. Development of advertising and PR technologies.

    Conference format: mixed. Participation in the conference is free. To participate in the conference, you must register before October 15, 2024.

    The conference articles will be published in a collection and submitted to the Russian Science Citation Index. The best articles will be published in a monograph by decision of the organizing committee. Details and particulars in the information letter.

    All additional information can be found in the information letter or on the official website of the conference.

    II EURASIAN MARKETING CONFERENCE

    Subscribe to the tg channel “Our State University” Announcement date: 09/27/2024

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

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

    We invite you to the II Eurasian Marketing Conference “Marketing of Economic Growth”

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

    MIL OSI Russia News –

  • MIL-OSI Europe: ECB Consumer Expectations Survey results – August 2024

    Source: European Central Bank

    27 September 2024

    Compared with July 2024:

    • median consumer inflation perceptions over the previous 12 months and consumer inflation expectations for the next 12 months both declined, as did median inflation expectations for three years ahead;
    • expectations for nominal income growth over the next 12 months increased, while expectations for spending growth over the next 12 months remained unchanged;
    • expectations for economic growth over the next 12 months became less negative, while the expected unemployment rate in 12 months’ time decreased;
    • expectations for growth in the price of homes over the next 12 months increased slightly, while expectations for mortgage interest rates 12 months ahead remained unchanged.

    Inflation

    The median rate of perceived inflation over the previous 12 months declined further in August to 3.9%, from 4.1% in July. Perceptions of past inflation have thus declined by 4.5 percentage points since their peak of 8.4% in September 2023. Meanwhile, inflation expectations at the one-year and three-year horizons remained below the perceived past inflation rate. Median expectations for inflation over the next 12 months edged down to 2.7%, from 2.8% previously, and stood at their lowest level since September 2021. Median expectations for inflation three years ahead edged down by 0.1 percentage points in August to 2.3%, back to their June level. Uncertainty about inflation expectations over the next 12 months remained unchanged at its lowest level since February 2022, when Russia invaded Ukraine. While the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups, expectations for lower income quintiles were slightly above those for higher income quintiles. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (those aged 35-54 and 55-70). (Inflation results)

    Income and consumption

    Consumer nominal income growth expectations increased to 1.2%, from 1.1% in June. The increase in income expectations was mainly driven by the lowest two quintiles. Perceptions of nominal spending growth over the previous 12 months decreased further to 5.2%, from 5.4% in July and 5.8% in June. The latest datapoint continues a sustained decline which started in March 2023. Expectations for nominal spending growth over the next 12 months remained stable at 3.2%. Nominal spending expectations are at their lowest level since February 2022, when Russia invaded Ukraine. (Income and consumption results)

    Economic growth and labour market

    Economic growth expectations for the next 12 months became less negative, standing at -0.9%, compared with -1.0% in July. Meanwhile, expectations for the unemployment rate 12 months ahead decreased to 10.4%, from 10.6% in July, their lowest level since the start of the series. Consumers continued to expect the future unemployment rate to be only slightly higher than the perceived current unemployment rate (10.0%), implying a broadly stable labour market. The lowest income quintile continued to report the highest expected and perceived unemployment rate, as well as the lowest economic growth expectations. (Economic growth and labour market results)

    Housing and credit access

    In August consumers expected the price of their home to increase by 2.7% over the next 12 months, which was slightly higher than in July (2.6%). Households in the lowest income quintile continued to expect higher growth in house prices than those in the highest income quintile (3.2% and 2.5% respectively). Expectations for mortgage interest rates 12 months ahead remained stable at 4.8%. As in previous months, the lowest income households expected the highest mortgage interest rates 12 months ahead (5.5%). The net percentage of households reporting a tightening (relative to those reporting an easing) in access to credit over the previous 12 months increased marginally, as did the net percentage of those expecting a tightening over the next 12 months. Nevertheless, both indicators remained close to levels last seen in the second quarter of 2022. (Housing and credit access results)

    The release of the CES results for September is scheduled for 25 October 2024.

    For media queries, please contact: Eszter Miltényi-Torstensson, Tel: +49 171 769 5305

    Notes

    MIL OSI Europe News –

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

    MILES AXLE Translation. Region: Russian Federation –

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

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

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

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

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

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

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

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

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

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

    MIL OSI Russia News –

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

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

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

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

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

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

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

    What does this tell us about Japanese politics?

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

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

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

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

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

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

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

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

    Will politics change much?

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

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

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

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

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

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

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

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

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

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

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

    What happens now?

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Africa: International film curator and champion of African cinema Keith Shiri appointed Lead Curator to Film Africa 2024 – now open for submissions

    Source: Africa Press Organisation – English (2) – Report:

    LONDON, United Kingdom, September 27, 2024/APO Group/ —

    Keith Shiri

    The Royal African Society is honoured that Keith will lead Film Africa’s curation, bringing his extraordinarily rich and wide experience in international curation and film festivals, as well as a record of championing African cinema and its profile in the United Kingdom, Europe, Africa and the Caribbean.

    As well as being the founder and director of Africa at the Pictures, a London-based festival of African cinema, Keith is a programme adviser to the London Film Festival and a founder member and current chair of the Africa Movie Academy Awards, and has advised the curation of international film festivals including the Venice Film Festival, the Berlin International Film Festival, the Dubai International Film Festival, the Panafrican Film and Television Festival of Ouagadougou and the Tampere Film Festival. He is also the Regional Secretary (Europe) for the Federation of African Filmmakers (FEPACI), and a Visiting Research Fellow at the Centre for Research and Education in Arts and Media (CREAM) at the University of Westminster.

    Keith sits on the advisory board of New York’s Focus Features Africa First Programmed, which has long supported young African filmmakers through its mentorship programme.

    In keeping with the Royal African Society and Film Africa’s ethos of expanding access to, and inclusion within, African culture and perspectives, the festival’s programme and emphases will reflect input from and be enriched by a diverse range of curators, filmmakers, and critics, to reflect the complexity and nuances of different African and diasporic voices.

    Keith Shiri said: “I am excited to join Film Africa as a curator. African artistry – especially in cinema – is experiencing a period of unparalleled invention and experimentation, and Film Africa provides the ideal forum in which to share these cultural treasures with audiences from the continent, as well as Britain’s various diaspora communities and the wider British public. I look forward to working to assemble a bench of films and speakers to progress our collective conversation about African film – as well as African cultural trends and the perspectives of those whose continent will, this century, emerge as the world’s most important and populous.”

    Film Africa 2024

    Film Africa, London’s unrivalled celebration of African and African diaspora cinema presented by the Royal African Society, is delighted to announce the appointment of Keith Shiri – a titan of African cinema and visual culture – as the Festival’s Lead Curator. In 2024, Film Africa will take place from Friday 25 October until Sunday November 3 continuing its mission of highlighting African and African diaspora filmmaking. The Festival is now open to submissions from African and African diasporic filmmakers.

    All entries will be considered for inclusion in the Festival and prizes will be awarded to two entries: The Baobab Award for best short film and the Film Africa Audience Award for best feature-length entry. Both awards have a £1000 cash prize.

    In 2022, the 10th edition of Film Africa spanned over 10 days from 28 October – 6 November. The festival hosted screenings at 7 venues across London – Picturehouse Central, BFI Southbank, Rich Mix, The Ritzy, Bertha DocHouse, South London Gallery and The Africa Centre – as well as featuring a selection of 7 narrative and documentary films on the BFI Player. Film Africa 2022 presented an eclectic hybrid programme of 47 films from 16 countries (including 22 World, European or UK premieres).

    MIL OSI Africa –

  • MIL-OSI Russia: “Science in Faces” in Novosibirsk: Heroes Among Us

    MILES AXLE Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    On October 1, the Novosibirsk State University will open the exhibition “Science in Faces” – a gallery of portraits of outstanding Russian scientists, engineers, authors of innovative developments, and laureates of the Russian Presidential Prize in Science and Innovation for Young Scientists.

    In 2024, the heroine of the Science in Faces project was a graduate Faculty of Natural Sciences of NSU, head of the gene immunotherapy group at the M.M. Shemyakin and Yu.A. Ovchinnikov Institute of Bioorganic Chemistry, Irina Alekseenko is the developer of a non-viral gene therapy drug for the treatment of cancer.

    The drug for the treatment of solid tumors, developed by Irina Alekseenko’s team, was the first in Russia to receive permission to conduct a clinical trial. The first phase of the study involved patients for whom traditional treatment methods had been exhausted, with a number of patients showing positive dynamics and stabilization of the disease, and none of the patients had serious adverse events associated with the drug.

    Irina Alekseenko will talk about the development and research during the events scientific and production forum of NSU “Golden Valley”, which will take place October 31-November 1. She will be a speaker in the section “Medicine and Pharmaceutical Industry” and will also hold a meeting with university students.

    Among the heroes of the exhibition are also young Novosibirsk scientists: Ekaterina Grizanova, PhD in Biology, leading research fellow at the Novosibirsk State Agrarian University; Sergey Pavlushin, PhD in Biology, senior research fellow at the Laboratory of Ecological Physiology at the Institute of Animal Taxonomy and Ecology of the Siberian Branch of the Russian Academy of Sciences, who have been awarded the Russian Presidential Prize in different years; and Sergey Adonin, Doctor of Chemical Sciences, leading research fellow at the A.V. Nikolaev Institute of Inorganic Chemistry of the Siberian Branch of the Russian Academy of Sciences.

    The exhibition “Science in Faces” will be available for visiting in the educational building (1 Pirogova St.), in the lobby of the second floor until November 1. The exposition will include portraits of participants in all three seasons of the project – authors of innovative developments and scientific achievements in the field of medicine and biotechnology, IT technologies, transport, metallurgy, space industry, mining and petrochemistry, agriculture, nuclear industry and others. In particular, the heroes of the third season were the authors of a bioprinter for “growing” tissues from cellular material, units of spacecraft of the federal project “SPHERE”, domestic AURUS cars, the Russian neural network Kandinsky, catalysts for petrochemistry and other developments.

    In the fall of 2024, the Science in Faces exhibition will be presented at the sites of the largest Russian universities in the country’s regions, and in a number of universities, the project’s heroes will give live lectures and talk about their scientific achievements, the development of Russian science, and career prospects for young scientists in various fields.

    Portraits of key representatives of Russian science and technology sector can be seen in universities of Novosibirsk, Kazan, St. Petersburg, Arkhangelsk, Vladivostok, Nizhny Novgorod, Perm, Tyumen, Ufa, Samara, Berdyansk. In November, the exhibition will be presented at the IV Congress of Young Scientists on the federal territory “Sirius”.

    The exhibition “Science in Faces” is part of the “Science Nearby” initiative of the Decade of Science and Technology, declared by the Decree of the President of the Russian Federation. The exhibition is held with the grant support of the Ministry of Science and Higher Education of the Russian Federation and with the support of the Coordinating Council for Youth Affairs in the Scientific and Educational Spheres of the Council under the President of the Russian Federation for Science and Education. The project partner is SIBUR.

    Information about the project heroes is available on the Decade of Science and Technology website:https://science.rf.

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

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

    http://vvv.nsu.ru/n/media/nevs/atmosphere/science-in-faces-in-Novosibirsk-heroes-among-us/

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Kindness is simple! The seventh inter-university “School of Volunteers” has opened

    MILES AXLE Translation. Region: Russian Federation –

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

    Every autumn the team

    The welcoming speech was given by the Deputy Chairman of the Committee on Youth Policy and Interaction with Public Organizations Oleg Polischuk, Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov, Director of the Humanitarian Institute Natalia Chicherina and Director of the Harmony Center Tatyana Nam.

    “School of Volunteers-2024” united active students into a single community of like-minded people. From September 18 to 20, there was an intensive course with thematic days “Kindness. Opportunities”, “Kindness. Skills” and “Kindness. Directions”.

    The first day was devoted to the skills that a volunteer develops. Leadership, team building, communication, self-control and time management — these skills help in life, creativity and work. Maria Kukushkina, head of the educational and project art laboratory “ArtPoliLab”, showed how a team is formed through joint games, dances and creative tasks.

    The meeting continued with a mini-lecture on social design from Maxim Smirnov, Deputy Director of the Dobro.Center “Harmony” of the Polytechnic University. Maxim told how to turn your dream into a goal and create your own social project, assemble a team for it and effectively organize work using agile methods.

    The evening ended with a presentation on time management from copywriter and fundraiser of the Dobro.Center “Harmony”, student of the Humanitarian Institute Vasilisa Sallinen. The speaker introduced the participants to the functionality of the WEEEK task manager and talked about how to effectively manage your time.

    The second day was called “Dobro.Napravleniya” and was dedicated to those areas of volunteering that are actively developing at the Polytechnic University. On this day, participants learned about creative, event and zoo volunteering, as well as volunteering in the emergency sector.

    First, there was a presentation on cultural and creative volunteering from the curator of the PoliNova author’s club, first-year student Maria Guner. She introduced future volunteers to creative master classes, charity exhibitions, auctions and concerts of the Dobro.Center. After that, the guys painted two canvases with oil paints together, which they will then finish together with a member of the Union of Artists of Russia Alexander Dudorov and send to an exhibition in hospitals as part of the mutual aid campaign

    From year to year, we try to make the “Volunteer School” more useful and interesting. This year, the idea was for the participants not only to learn something new about volunteering and practice different functions, but also to help in the “here and now” format. The guys painted pictures for exhibitions in hospitals, sewed soft toys, prepared publications, took photographs. So already at this stage they can feel how their deeds bring good, – noted Maxim Smirnov.

    The second speaker was Maxim Degterev, team leader of the volunteer event direction. He spoke about the most striking and large-scale events. And then he explained how to build relationships in a team and determine the most suitable place for yourself in the team.

    At the end of the second day, the participants were treated to two lectures and presentations on animal volunteering and volunteering in emergency situations. From the curator of the animal volunteer direction, Angelina Zinchenko, the participants learned how to help animals and how this is implemented in the Dobro.Center of the Polytechnic University. First aid instructors Tatyana Plekhanova and Violetta Lee spoke about volunteering in emergency situations. After the presentation, the girls held a master class.

    On the third day, the children had a lecture on social volunteering from the curator of the direction, Anna Pushchina. They learned how and what they can help, and also got acquainted with the basic rules of working in social homes. Anna and the activists held a master class on creating felt hearts for a basket of goodness. All of them will go to social institutions.

    Anastasia Savina, specialist of the Laboratory of Applied Psychology of the Humanitarian Institute, curator of the school of self-development

    Maxim Smirnov and the curator of the media volunteer direction Anastasia Kalinina told about the direction of volunteering hidden from the eyes of most – media volunteering. Then Maxim and Anastasia held a master class on creating texts and posters for social networks.

    A student of the Humanitarian Institute, Elizaveta Kruppa, shared her experience. She went from being a media volunteer at Dobro.Center to an experienced communications specialist. She is the organizer of the international communications award Proba Awards 2023.

    When I started doing media volunteering, I didn’t even suspect that it would become such an important step in my career. Media volunteering helped me develop professional skills and build communications with people more easily. Now I am a successful communications professional, and it all started with that small step I took as a volunteer. Thank you to everyone who supported me on this path and helped me grow! — shared her experience media volunteer and student of the Humanitarian Institute Elizaveta Kruppa.

    Then the kids had a fascinating lecture from the team leaders of the Dobro.Center “Harmony” Anastasia Shkolyanok and Maxim Degterev about the possibilities of volunteering. Forums, scholarships, training, travel – these are only some of the opportunities that the kids talked about.

    At the final of the Volunteer School, Tatyana Nam, Director of the Dobro.Center “Harmony” of SPbPU, gave a presentation and presented to the students her original project “Ecosystem of Volunteering at the University” with 15 areas of volunteering. She shared her experience of various social projects and told how important it is to do good, and not to cause it.

    Participants of the inter-university volunteer school were awarded certificates and gifts from our partners – the museum “In Silence” and the quest room “Vzaperti”.

    It was an unforgettable experience! We met the team of the Polytechnic University Dobro.Center, learned about their activities and the skills that we can develop through volunteering. The realization that by helping others we improve ourselves is very inspiring and motivating! We managed to learn that volunteering not only brings benefits, but also opens doors to new opportunities – it’s amazing! Travel, training, scholarships – all this makes volunteer work even more attractive. I realized that this is not just an activity, but a whole life perspective! – said a student of the Institute of Industrial Management, Economics and Trade Diana Zaydullina.

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

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

    http://www.spbstu.ru/media/nevs/student_life/good-it-just-opened-the-seventh-interuniversity-school-of-volunteers/

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

    MIL OSI Russia News –

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

    Source: United States Attorneys General

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL Security OSI –

  • MIL-OSI Translation: Federal Council approves signing of border rectification agreement with Italy

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

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Council

    Bern, 27.09.2024 – At its meeting on 27 September 2024, the Federal Council approved the signing of the agreement on the rectification of the border between Switzerland and Italy.

    In the high mountains, significant sections of the Italian-Swiss border are determined by the watershed represented by the crest line of glaciers, snowfields and eternal snow. However, with the melting of the glaciers, these natural elements evolve and redefine the national border when it is defined dynamically.

    Proposal of the Joint Commission for the maintenance of the Italian-Swiss border

    Faced with the mutual desire of Switzerland and Italy to rectify the border in the region of Tête Grise / Plateau Rosa, Cabane Carrel and Dos de Rollin, the joint commission for the maintenance of the Italian-Swiss border agreed, in May 2023, on a draft agreement on the rectification of the border between the two countries, in accordance with the economic interests of both parties.

    Approval of the agreement

    Since this is a minor border rectification within the meaning of Art. 24, para. 1 of the Geoinformation Act, the Federal Council is authorised to conclude this agreement alone. It has therefore approved the signing of the agreement between Switzerland and Italy on border rectification.

    The process for the approval of the signing of the agreement is underway in Italy. After signature by both parties, the agreement will be published and the rectification will be implemented.

    Address for sending questions

    Communication and Web Department 41 58 465 62 85infokmk@swisstopo.ch

    Author

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

    Social sharing

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

    MIL Translation OSI

  • MIL-OSI United Kingdom: Stop smoking for Stoptober and you’re five times more likely to quit 27 September 2024 Stoptober

    Source: Aisle of Wight

    The Isle of Wight Council is encouraging Islanders who smoke to take part in Stoptober, this October.

    Stoptober is back for 2024 and we are calling on people who smoke, across the Island, to join 2.5 million other people across England who have made a quit attempt with the campaign previously.

    Simon Bryant, the Island’s director of Public Health, said: “Quitting smoking is the best thing you can do for your health and it’s never too late to quit. When you stop smoking, there are almost immediate improvements to your health. If you quit smoking for a month, you’re five times more likely to quit for good.’’

    I would encourage anyone looking at giving up smoking to get involved during Stoptober and be part of the opportunity. It is never too late to stop smoking and Smokefree Island will offer support to quit throughout the year. When you stop smoking good things start to happen.’’

    Quitting smoking has many benefits, breathing easier, moving about more freely, and having more money to spend. Stoptober offers free tools to help you quit, including the NHS Quit Smoking app, daily email support, Facebook groups, information about quitting smoking with a vape and expert support from local stop smoking services such as Smokefree Island or search ‘Stoptober’.

    For more information about the stop smoking services available across the Island, visit Smokefree Island, text QUIT to 66777, call 01983 642369, or email smokefree.island@nhs.net.

    Smoking causes 64,000 deaths a year, making it the biggest cause of preventable illness and death.

    You are not alone in your stop smoking journey to a better quality of life. Every year, around 1000 Isle of Wight residents set a quit date.

    Join Stoptober! Boost your chances of quitting smoking for good!

    MIL OSI United Kingdom –

  • MIL-OSI: Further Information on Forthcoming Dividend

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    About CoinShares

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

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

    The MIL Network –

  • MIL-OSI Translation: Blood donation: free of charge and no discrimination to be included in the law from 2025

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

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Council

    Bern, 27.09.2024 – In Switzerland, it is forbidden to pay for blood donations, and every person must have the right to donate: these are the rules laid down in the Constitution. Parliament has decided to enshrine these principles in law through an amendment. At its meeting on 27 September 2024, the Federal Council decided to bring the corresponding provisions into force in the Therapeutic Products Act on 1 January 2025.

    The amendment to the Therapeutic Products Act (TPA) provides that blood donations are not remunerated in Switzerland. The principle of free donation already applies today, in accordance with the Federal Constitution, to human organs, tissues and cells and prohibits the guarantee or acceptance of any advantage in exchange for a blood donation. It is also not permitted to import blood or labile blood products for transfusion purposes if such advantages have been guaranteed or accepted. This amendment thus anchors this constitutional principle in the TPA.

    The same applies to the ban on discrimination in blood donation, which is now included in the LPTh. No one may be excluded from donating blood because of, for example, their sexual orientation. The new legal provisions will come into force on 1 January 2025.

    By amending the law, the Federal Council is implementing parliamentary initiative 16.504 “Guaranteed blood supply and free blood donation”. In the final vote on 29 September 2023, Parliament unanimously adopted the bill drawn up by the National Council’s Committee on Social Security and Public Health (CSSS-N). The referendum period expired on 18 January 2024 without having been used.

    Address for sending questions

    Federal Office of Public Health, Media and Communication, 41 58 462 95 05, media@bag.admin.ch

    Author

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

    Social sharing

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

    MIL Translation OSI

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

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

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Council

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

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

    Decisive involvement of the local population

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

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

    Sufficiently solid existing legal bases

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

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

    Address for sending questions

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

    Author

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

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

    MIL Translation OSI

  • MIL-OSI Translation: Federal Council approves signing of three draft agreements on rectification of border with France

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

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Council

    Bern, 27.09.2024 – At its meeting on 27 September 2024, the Federal Council approved the signing of three draft agreements on the rectification of the border between Switzerland and France.

    The canton of Geneva has a common border with France that is 103 kilometres long, 50 of which are located in the middle of waterways. The planning of renaturation works on the Hermance and of renaturation and containment works on the Foron make certain adaptations to the border line necessary. Furthermore, certain developments, such as the laying of tracks for a new cross-border tramway line between the Swiss commune of Perly-Certoux and the French commune of Saint-Julien-en-Genevois, involve a border rectification on the communes of Perly-Certoux and Bardonnex.

    Proposal of the Joint Franco-Swiss Commission for the Demarcation and Maintenance of the Border

    The Joint Franco-Swiss Commission for the Demarcation and Maintenance of the National Border has drawn up three draft agreements to rectify these three sectors of the national border. In accordance with the principle of surface area compensation, public international law provides for the possibility of an exchange of territory of equivalent surface area in the event of a border modification.

    Approval of conventions

    Since these are minor border rectifications within the meaning of Art. 24, para. 1, of the Geoinformation Act, the Federal Council is authorised to conclude these agreements alone. It approved the signing of the three border rectifications between Switzerland and France proposed by the Joint Committee.

    The process for approval of the signing of the agreements is underway in France. After signature by both parties, the agreements will be published and the corrections will be implemented.

    Address for sending questions

    Communication and Web Department 41 58 465 62 85infokmk@swisstopo.ch

    Author

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

    Social sharing

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

    MIL Translation OSI

  • MIL-OSI Translation: Federal Council approves signing of three draft agreements on border rectification with France

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

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Council

    Bern, 27.09.2024 – At its meeting on 27 September 2024, the Federal Council approved the signing of three draft agreements on the rectification of the border between Switzerland and France.

    The canton of Geneva has a common border with France that is 103 kilometres long, 50 of which are located in the middle of waterways. The planning of renaturation works on the Hermance and of renaturation and containment works on the Foron make certain adaptations to the border line necessary. Furthermore, certain developments, such as the laying of tracks for a new cross-border tramway line between the Swiss commune of Perly-Certoux and the French commune of Saint-Julien-en-Genevois, involve a border rectification on the communes of Perly-Certoux and Bardonnex.

    Proposal of the Joint Franco-Swiss Commission for the Demarcation and Maintenance of the Border

    The Joint Franco-Swiss Commission for the Demarcation and Maintenance of the National Border has drawn up three draft agreements to rectify these three sectors of the national border. In accordance with the principle of surface area compensation, public international law provides for the possibility of an exchange of territory of equivalent surface area in the event of a border modification.

    Approval of conventions

    Since these are minor border rectifications within the meaning of Art. 24, para. 1, of the Geoinformation Act, the Federal Council is authorised to conclude these agreements alone. It approved the signing of the three border rectifications between Switzerland and France proposed by the Joint Committee.

    The process for approval of the signing of the agreements is underway in France. After signature by both parties, the agreements will be published and the corrections will be implemented.

    Address for sending questions

    Communication and Web Department 41 58 465 62 85infokmk@swisstopo.ch

    Author

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

    Social sharing

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

    MIL Translation OSI

  • MIL-OSI: Investeringsforeningen Sparinvest suspenderer handel af udvalgte afdelinger

    Source: GlobeNewswire (MIL-OSI)

    Under henvisning til Nasdaq Copenhagens regler for udstedere af investeringsbeviser skal ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg hermed på vegne af de berørte afdelinger i Investeringsforeningen Sparinvest offentliggøre, at indberetning af indre værdier til Nasdaq Copenhagen er udeblevet grundet tekniske udfordringer. Handel med de berørte afdelinger ønskes derfor midlertidigt suspenderet.

    Der er tale om følgende afdelinger:

    Fund Name ISIN Order Book Code
    Mix Aktier KL A DK0010014778 SPIMAKLA
    Value Aktier KL A DK0010079631 SPIVAKLA
    Value Emerging Markets KL A DK0010304856 SPIVEMKLA
    INDEX Dow Jones Sustainability World KL DK0010297464 SPIDJWKL
    INDEX Emerging Markets KL DK0060300762 SPIEMIKL
    INDEX Globale Aktier Min. Risiko KL DK0060031847 SPIGLAMRIKL
    INDEX Bæredygtige Japan KL DK0010297977 SPIBJAKL
    Mix Maksimum Risiko KL A DK0061551892 SPIMMRIA
    Bæredygtige Value Aktier KL A DK0061551546 SPIBDVAA
    Mix Lav Risiko KL A DK0060623189 SPIMLRKLA
    Mix Mellem Risiko KL A DK0060623262 SPIMMRKLA
    Mix Høj Risiko KL A DK0060623346 SPIMHRKLA
    Mix Minimum Risiko KL A DK0060914901 SPIMIXMINRISKKLA

    Vi beklager forsinkelsen.

    Eventuelle spørgsmål vedrørende denne meddelelse kan rettes til npa.pm@nykredit.dk eller Head of Portfolio Management & Operations, Christian Rye Holm CRH@nykredit.dk.

    Med venlig hilsen
    Dirk Schulze

    The MIL Network –

  • MIL-OSI: Sparinvest SICAV suspenderer handel med udvalgte afdelinger

    Source: GlobeNewswire (MIL-OSI)

    Under henvisning til Nasdaq Copenhagens regler for udstedere af investeringsbeviser skal ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg hermed på vegne af de berørte afdelinger i Sparinvest SICAV offentliggøre, at indberetning af indre værdier til Nasdaq Copenhagen er udeblevet grundet tekniske udfordringer. Handel med de berørte afdelinger ønskes derfor midlertidigt suspenderet.

    Der er tale om følgende afdelinger:

    Fund Name ISIN Order Book Code
    Ethical Global Value EUR R LU0362355355 SSIEGVEURR
    Global Value EUR R LU0138501191 SSIGVEURR

    Vi beklager forsinkelsen.

    Henvendelser vedrørende nærværende fondsbørsmeddelelse kan rettes til npa.pm@nykredit.dk, cc jna@nykredit.dk.

    Med venlig hilsen
    Dirk Schulze

    The MIL Network –

  • MIL-OSI: Værdipapirfonden Sparinvest suspenderer handel med udvalgte afdelinger

    Source: GlobeNewswire (MIL-OSI)

    Under henvisning til Nasdaq Copenhagens regler for udstedere af investeringsbeviser skal ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg hermed på vegne af de berørte afdelinger i Værdipapirfonden Sparinvest offentliggøre, at indberetning af indre værdier til Nasdaq Copenhagen er udeblevet grundet tekniske udfordringer. Handel med de berørte afdelinger ønskes derfor midlertidigt suspenderet.

    Der er tale om følgende afdelinger:

    Fund Name ISIN Order Book Code
    INDEX Globale Aktier KL DK0060747822 SPVIGAKL
    INDEX Globale Aktier Min. Risiko Akk. KL DK0060748127 SPVIGAMRAKL
    INDEX Bæredygtige Global KL DK0060747905 SPVIBGKL
    INDEX Lav Risiko KL DK0060748556 SPVILRKL
    INDEX Mellem Risiko KL DK0060748630 SPVIMRKL
    INDEX Høj Risiko KL DK0060748713 SPVIHRKL

    Vi beklager forsinkelsen.

    Henvendelser vedrørende nærværende fondsbørsmeddelelse kan rettes til npa.pm@nykredit.dk cc jna@nykredit.dk.
    Med venlig hilsen
    Dirk Schulze

    The MIL Network –

  • MIL-OSI Europe: APOSTOLIC JOURNEY – Pope in Luxembourg: “What drives us to mission is the joy of encountering Christ”

    Source: Agenzia Fides – MIL OSI

    Thursday, 26 September 2024

    Vatican Media

    Luxembourg (Agenzia Fides) – Service, mission, joy. These three words are the focus of the second and final speech delivered by Pope Francis in Luxembourg, the first stop on this Apostolic Journey to the heart of Europe, the 46th foreign trip for the Argentine Pope.In the Cathedral of Notre-Dame, a masterpiece of late Gothic architecture dating back to the 17th century, the Bishop of Rome, echoing the words of the young people present, recalled that “the Church of Jesus Christ, who came not to be served, but to serve”, because “the spirit of the Gospel is a spirit of welcoming, of openness to everyone; it does not admit any kind of exclusion”.On the subject of mission, Pope Francis repeated the words of Cardinal Archbishop Jean-Claude Hollerich, who, when welcoming the Pope in the Cathedral, had spoken of the “evolution of the Church in Luxembourg in a secularized society”. “I like this expression,” said the Pope, “The Church, within a secularized society needs to evolve, mature and grow”. “It cannot close itself off in sadness, resignation or resentment. On the contrary, it must accept the challenge while remaining faithful to the its perennial values, going beyond an approach of simple pastoral care to one of missionary proclamation,” he stressed.In this context, the Pope said: “What drives us to be missionaries is not the need to meet quotas or to proselytise, but rather our desire to make known to as many brothers and sisters as possible the joy of encountering Christ”. And he quoted Pope Benedict XVI: “Remember what Pope Benedict said: ‘The Church does not grow by proselytism but by attraction’.“Thus, as we overcome difficulties, the living power of the Holy Spirit is at work within us! Love moves us to proclaim the Gospel, which opens us to others. Accepting the challenge of this proclamation allows us to grow as a community,” Pope Francis continued.Referring to Saint Gregory the Great, the Pope moved on to the theme of joy: “This is what our faith is like: full of joy, it is a “dance”, because we know that we are children of a God who is our friend, who wants us to be happy and united, who rejoices above all in our salvation.”And finally, the Pope recalled a “beautiful tradition” in Luxembourg, namely the procession “which takes place in Echternach at Pentecost. This procession commemorates the tireless missionary efforts of Saint Willibrord, who evangelized these lands. The entire city pours out onto the streets and dances through the city squares, accompanied by the many pilgrims and visitors who join you. Moreover, the procession becomes a great unified dance.””The mission the Lord entrusts to us is beautiful. Let us console and serve, following Mary’s example and with her help,” concluded the Pope. Before arriving at the airport to fly to Belgium, he inaugurated the Marian Jubilee on the occasion of the 400th anniversary of the veneration of Mary in Luxembourg under the title “Consoler of the Afflicted.” Francis then paid homage to the statue of Our Lady with the golden rose. And in the meantime, the time has come to say goodbye: the plane to Brussels awaits him. (F.B.) (Agenzia Fides, 26/9/2024)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Europe: Judicial integrity and transparency in focus at regional conference on strengthening judicial responses to organized crime and corruption

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Judicial integrity and transparency in focus at regional conference on strengthening judicial responses to organized crime and corruption

    Judicial integrity and transparency in focus at regional conference on strengthening judicial responses to organized crime and corruption | OSCE
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    Home Newsroom News and press releases Judicial integrity and transparency in focus at regional conference on strengthening judicial responses to organized crime and corruption

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – The rule of law in Cyprus and the case of Auditor General Odysseas Michaelides – P-001794/2024

    Source: European Parliament

    Priority question for written answer  P-001794/2024
    to the Commission
    Rule 144
    Fidias Panayiotou (NI)

    In its capacity as guardian of the EU Treaties, we inform the Commission about the particular case of former Auditor General of Cyprus, Odysseas Michaelides, who was removed from his position by the Supreme Constitutional Court.

    Considering that the Audit Office is a key institution in matters related to the use of public funds and that it conducts independent external audits of the executive authority, there are serious concerns that Odysseas Michaelides was removed because of his well-known anti-corruption activities.

    In this context:

    Will the Commission launch an official investigation into possible breaches of the rule of law in Cyprus with regard to the situation of former Auditor General, Odysseas Michaelides, and if justified, will the Commission propose an infringement procedure?

    Submitted: 24.9.2024

    Last updated: 27 September 2024

    MIL OSI Europe News –

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

    Source: European Parliament

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

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

    In view of the above:

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

    Submitted: 23.9.2024

    Last updated: 27 September 2024

    MIL OSI Europe News –

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

    Source: GlobeNewswire (MIL-OSI)

    MULTITUDE P.L.C. (C 109441)

    ST Business Centre, 120, The Strand

    Gzira, GZR 1027

    Malta

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

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

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

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

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

    1        MATTERS ON THE AGENDA OF THE MEETING

    At the Meeting, the following matters will be considered:

    General:

    (1)        Opening of the Meeting and appointment of chairman

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

    (2)        Quorum

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

    (3)        Calling the Meeting to Order

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

    (5)        Recording the Legality of the Meeting

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

    Special business (ordinary resolutions):

    (7)        Presentation and approval of the Final Accounts

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

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

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

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

    (9)        Closing of the Meeting

    2        MEETING MATERIALS

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

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

    3        PARTICIPATION INSTRUCTIONS

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

    3.1        Record date

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

    3.2        Preliminary

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

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

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

    3.3        Participation in person

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

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

    3.4        Proxy representatives

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

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

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

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

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

    3.5        Right to ask questions

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

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

    3.6        Other information

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

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

    –––––––––––––––––––––––––

    In Malta on 27 September 2024

    MULTITUDE P.L.C.
    The Board of Directors

    Contact: 

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

    About Multitude P.L.C.: 

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

    The MIL Network –

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

    MILES AXLE Translation. Region: Russian Federation –

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

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

    September 27, 2024

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

    September 27, 2024

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

    September 27, 2024

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

    September 27, 2024

    Previous news Next news

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

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

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

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

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

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

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

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

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

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Preston’s Faith Communities come together at Town Hall

    Source: City of Preston

    27 September 2024

    Meetings took place at the Town Hall and Quwwatul Islam yesterday where Muslim and Jewish members of Preston communities met to talk about their personal experiences relating to the conflict in the Middle East, struggles and concerns in their respective communities and across Preston, and listen to each other’s point of view.

    The town hall meeting was well attended by Councillors and Cabinet members, with good representation from across political parties.

    Councillor Matthew Brown, Leader of Preston City Council said:

    We are pleased with the interfaith dialogue and the honest and open discussions that have taken place across our different communities today, and welcome any future interactions that strengthen our multicultural and multifaith relationships and community cohesion. We look forward to continuing the dialogue with different groups in the future, as well as an upcoming meeting with leading members of the Muslim community. We hope that it is insightful and as educational as it has been today.”

    Mark Levy, Jewish Leadership Council, said:

    It was a pleasure to visit Quwwatul Islam Mosque and Preston City Council.  We held frank and open discussions with community members and councillors about the conflict in the Middle East and the effect on community cohesion. We are grateful to the council for facilitating these discussions and look forward to working together to maintain open channels of communication between communities.”

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  • MIL-OSI Russia: The second summit of Slavic universities took place at the Polytechnic University

    MILES AXLE Translation. Region: Russian Federation –

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

    On September 26, the Polytechnic University hosted the second summit of Slavic universities “Slavic Horizon-2024”. The event was organized by the Administration of the President of the Russian Federation, the Ministry of Science and Higher Education of the Russian Federation and Peter the Great St. Petersburg Polytechnic University.

    The summit was attended by delegations from four Slavic universities: Russian-Armenian, Belarusian-Russian, Kyrgyz-Russian and Russian-Tajik, as well as representatives of Russian universities involved in the project.

    The plenary session was opened by the Vice-Rector for Educational Activities of SPbPU Lyudmila Pankova: It was not for nothing that we called the event a discussion platform, we discuss all aspects of education – from teaching methods to interaction with employers. Collaboration with the second summit of Slavic universities “Slavic Horizon-2024” will allow us to expand the boundaries and transfer the best educational practices.

    Dean of the Physics and Technology Faculty of Tomsk State University Yulia Ryzhikh presented in her report a new image of the higher education system using the TSU case as an example.

    Today, the system of higher education in the Russian Federation is undergoing significant changes. And it is very important to understand in what context we should build further cooperation in order to ensure the quality of the educational process, – emphasized Yulia Nikolaevna.

    Svetlana Barabantseva, Head of the Department for Working with Young Talents at Severstal, and Zoya Makarovskaya, Chairperson of the Union of Higher Education Methodologists, also spoke.

    Vice-Rector for International Affairs of SPbPU Dmitry Arsenyev opened the topic of the global presence of Russian education in the world space and presented in his report the approaches and tools that the Polytechnic University is implementing.

    At the session “Expanding the Russian Presence in the Global World,” colleagues from Slavic universities spoke about their experience of educational cooperation with Russian universities.

    We have been meeting for the second year at the Saint Petersburg Polytechnic University, which is our strategic partner in the development of educational, scientific and educational processes. The presence of such a platform gives us the opportunity to communicate with the management of other Russian universities, with the administration and our curators from the Polytechnic University, to develop common points of view, to form platforms and, in general, a common view on the development of Slavic universities, – believes Natalia Vologina, Vice-Rector for Academic Affairs at BRU.

    Vice-Rector for International and Scientific-Innovative Activities of KRSU Viktor Denisenko noted the steps towards modernization in the educational process that were taken with the participation of the Polytechnic this year.

    Director of the Center for Social and Cultural Adaptation and Intercultural Communication of the Russian Language Institute of RUDN University Maria Alimova spoke about joint work in the field of support and promotion of the Russian language with Slavic universities, events and programs being implemented.

    Vice-Rector for Academic Affairs of RAU Marina Khachatryan shared her experience in implementing educational programs with Russian universities, including the Polytechnic University.

    The international experience of educational cooperation was presented by the consortium “Russian-African Network University” represented by the Deputy Director of the International Cooperation Department of SPbPU and Secretary of RAFU Alla Mazina.

    At the summit, SPbPU and KRSU signed an agreement on nine network educational programs in the following areas: infocommunication technologies and communication systems, electronics and nanoelectronics, instrument making, electric power engineering, mechanics, architectural environment design, software engineering, construction, and technosphere safety.

    The main thing in the “Slavic Universities” project is to support our partners in developing a development program based on the experience of the Polytechnic University, in focusing on its acceleration, so that they become leaders in their countries, models of quality education, noted Dmitry Arsenyev.

    The business part of the day ended with a seminar for heads of development programs, where each university presented the current status of their implementation.

    The Slavic Summit is a unique format that was created a year ago and has proven to be very effective. “Slavic Universities”, each in its own country, with its own specifics, are united by a common task set by the relevant ministries and leaders of the countries. In solving these tasks, they face similar problems. The summit provides an opportunity for an open discussion that helps find solutions to common problems, share unique specifics and national characteristics, understand what mechanisms can work, and how to apply experience and ideas in different countries. We plan to continue this format of interaction, as it allows synchronization and gives a powerful impetus for development for the next year, – summed up the head of the Slavic Universities project office, deputy head of the International Cooperation Department Nikita Golovin.

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

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

    https://www.spbstu.ru/media/news/international_activities/v-politekhe-sostoyalsya-vtoroy-summit-slavyanskikh-universitetov/

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

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