Category: Germany

  • MIL-OSI United Kingdom: New guide lets you plan your Walled City Trail experience at Derry Halloween

    Source: Northern Ireland – City of Derry

    New guide lets you plan your Walled City Trail experience at Derry Halloween

    15 October 2024

    The ultimate guide to all the ghoulish goings on in Derry this Halloween launched today, helping visitors plan ahead for the biggest Halloween celebration in Europe, now just weeks away.

    The Derry Halloween Awakening the Walled City Trail details all the best activities and highlights of the trail which runs this year from Monday October 28th – Thursday October 30th from 6pm – 9pm.

    It is available on the DerryHalloween.com website and printed copies will be available to pick up from Council buildings, Visit Derry and other venues in the week before Halloween.

    This year the trail is packed full of all sorts of spooky spectacles, weaving its magic throughout the city centre at haunted hotspots including the Upper City Walls, the Diamond, Cathedral Quarter, Guildhall Square, Waterloo Place and Ebrington Square.

    Visit the Witchy Wonderland where In Your Space Circus will create an eerie walk-through experience full of mischief and mayhem on Derry’s historic Walls.

    The ramparts will provide the perfect atmospheric backdrop for some dazzling fire performance and ghostly goings on. 

    This year the Guildhall Production Studio will bring the worlds of old and new together with the latest technology to animate the iconic Austins building and Bishop Street Court House, bringing some local ghost stories to life.

    Enter the ethereal Elemental Garden set to take over Ebrington Square, an ambient and mesmerising celebration of darkness and light, as visualised by landscape spectacle specialists LUXE, in a piece supported by The Executive Office.

    A number of exciting new highlights feature in the trail this year, including the debut appearance of the weird and wonderful Rodafonio, created by renowned designer and musician Cesar Alvarez and brought all the way from Barcelona.

    Also adding an international flavour to the festivities are the Stelzen-Art Time Travellers, bringing their enchanting illuminations all the way from Germany to the city’s Cathedral Quarter.

    Take care not to fall under a spell as the bewitching Hocus Pocus bring their spellbinding show to the City of Bones at Waterloo Place, 28th – 30th October, with an interactive, child friendly performance by the Studio 2 Sanderson Sisters, back after 300 years.

    Then step back in time to the 1980s as the New Gate Arts Group take you Back to the Future with a special street performance featuring a DeLorean Car and the renowned Sollus Highland Dancers.

    Add to this the Monster Fun Fair at Ebrington, the sensational Spark Drummers, Uncle Doom and his Organ of Doom, Street Walkabouts, Haunted Houses, Live Music, creepy Arts & Crafts, Kids Halloween Disco, Wailing Nuns, Wicked Windows, City Dance’s Walter on the Dance Floor, Interactive Kids Shows in the Guildhall and a city centre Trick or Treat Trail – and you will find plenty to keep you busy in the home of Halloween.

    Head of Culture with Council, Aeidin McCarter, said now was the time to plan your visit.

    “There is so much going on this year, we would really encourage people to plan ahead and familiarise themselves with the event map and programme information to ensure they get to see everything that’s happening,” she stressed.

    “The great thing is that from Monday – Wednesday we have a full programme of entertainment and activities in the build up to Halloween, so any night is a good time to visit!

    “The Awakening the Walled City Trail offers the chance to explore the city centre by night and experience some of the myth and magic that makes this place so special at this time of year.
    “I am thrilled that we are back on the City Walls this year for part of the trail – it’s the perfect place to capture the real essence and atmosphere of Halloween through the centuries.

    “There will be lots of activities for younger children throughout the day as well, so please check out the programme online or download our app for the latest updates.”

    The Derry Halloween festival is led by Derry City and Strabane District Council, supported by Tourism Northern Ireland and The Executive Office, with additional support from Ulster University and Air Coach.

    Download the Awakening the Walled City Trail at DerryHalloween.com and don’t forget that Derry Halloween is also on WhatsApp.
    Get the latest updates, exclusive sneak peeks, and instant info right on your phone.
    Don’t miss any of the spooky surprises in store at https://bit.ly/halloweenwhatsapp

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Attorney General’s 2024 Bingham Lecture on the rule of law

    Source: United Kingdom – Executive Government & Departments

    On 14 October 2024, the Attorney General Lord Hermer KC delivered the 2024 Bingham Lecture titled ‘The Rule of Law in an Age of Populism’.

    Opening remarks

    Thank you Helena for that introduction.  It is a particular privilege to be introduced by a friend who I admire and respect so much and by someone who has spent a lifetime promoting the rule of law and protecting human rights.      

    Thank you also to the Bingham Centre for inviting me to speak to you this evening.

    For nearly fifteen years, the Bingham Centre has been an essential voice for the advancement of rule of law values at home and abroad. Its work to promote a better understanding of the rule of law and to help build the capacity to give it practical effect, has never been more vital than it is today.

    It is a record of which Tom Bingham, in whose name I am honoured to give this lecture, would surely have been proud. It is wonderful to see so many of his family here tonight, Lady Bingham, Dame Kate, Kit and Mary.

    Lord Bingham’s judicial and non-judicial writing, his stature as one of the great postwar judges, has been an inspiration for generations of lawyers, myself very much included.  I had the privilege of appearing in front of Lord Bingham as a junior in a series of interesting cases before the House of Lords in which I was led by a promising young silk called Keir Starmer. 

    But like many in this audience I also felt a personal tie to Tom Bingham.  I applied for silk in 2009 and Lord Bingham was one of my referees but sadly my father, who was a lawyer, died shortly before my appointment.  My sense of loss at not being able to share the news with my dad was softened by the fact that before he died I was able to show him a letter that Lord Bingham had written to me.  The letter was filled with the warmth and support that many who knew Tom Bingham will recognise. Thus I will always feel a very personal debt of gratitude to him for the joy and pride that his letter gave to my dad.   

    It was in his cogent and elegant account of the rule of law that Tom Bingham encapsulated in his eight principles.  Such was the authority and clarity of his analysis that the principles are now a necessary reference point for any discussion (or indeed speech) on the subject.

    As Sir Jeffrey Jowell put it when he spoke at the launch of this Centre back in December 2010:

    Tear open the Bingham package of requirements for the rule of law and, as each of his ingredients falls away, we progressively observe the stark outlines of tyranny- at worst; or authoritarianism – at best.

    That remark has a particular resonance today. And what better illustration of the enduring contribution of that book could there be than the sight, earlier this year, of its Ukrainian translation being launched in Kyiv, on the frontline of the ongoing struggle for democratic, rules-based values.

    Introduction: setting the scene, and the challenge

    As that scene attests, we are living through uncertain and challenging times, with threats to the rule of law on a number of fronts.

    This evening, I would like to talk about the necessary response to these challenges, through restoration of our reputation as a country that upholds the rule of law at every turn and by embedding resilience to rebuff the populist challenge. 

    Restoration and resilience.  I’m going to begin by setting out the nature of the challenge as well as proffering some thoughts on the relationship between the rule of law, democracy and human rights.  I will then turn to three themes that I consider lie at the heart of the restoration and resilience project firstly, the rebuilding our reputation as a leader in the field of international law and the international rules based order; secondly, the strengthening of Parliament’s role in upholding the rule of law and thirdly the promotion of a rule of law culture.

    Our starting point is not a happy one.  Conflict currently affects more countries than at any time since the Second World War. As too many people around the world are driven from their homes by wars and instability, there is a sense of an international system that is unable to act. That is unable to prevent wars of aggression and to address desperate humanitarian need.

    As the Prime Minister said at the General Assembly in New York, those “institutions of peace” that the UK and others worked so hard to establish after the horrors of the Second World War are struggling. Those rules that we have all worked so hard to maintain are being undermined. And faith in international law, and the international rule of law, is being chiselled away in communities who are told, time and again, that the system is failing to deliver for them.

    The challenges we face are increasingly global – whether the development of AI, the threat of climate change, growing inequality, or increased migration – and we need a functioning global order, underpinned by a strong commitment to the rule of law, to even begin to tackle them.

    At home, too, we cannot afford to be complacent about the extent to which values that once were taken for granted have been undermined. A near decade of crisis and political instability has, at times, stretched the fabric of our constitution to its limit.  I don’t wish to make a party political speech, indeed I am determined to make the promotion of the rule of law a project we can all sign up to irrespective of our political allegiance. 

    At a time when there is a desperate need for cooperation and solutions, we are increasingly confronted by the divisive and disruptive force of populism. This is not a new phenomenon. But in recent years we have grown accustomed to diagnosing its symptoms, on both right and left.

    We face leaders who see politics as an exercise in division; who appeal to the ‘will of the people’ (as exclusively interpreted by them) as the only truly legitimate source of constitutional authority.

    Their rhetoric conjures images of a conspiracy of ‘elites’; an enemy that is hard to define, but invariably including the people and independent institutions who exercise the kind of checks and balances on executive power that are the essence of liberal democracy and the rule of law. Judges. Lawyers. A free press. NGOs. Parliament. The academy. An impartial and objective civil service.  Populists work to diminish their legitimacy or, at worst, actively remove them from the scene altogether.

    Allied to this, we have also seen how populism, in its most pernicious forms, works to demonise other groups, usually minorities – to discredit the legal frameworks and institutions that guarantee their rights, and dismantle, often through calculated misinformation, the political consensus that underpins them.

    The argument

    Times of crisis and challenge are fertile ground for this kind of politics. And they can create a receptive audience for the populists’ argument that the rule of law is somehow in tension with democratic values.

    It is this dynamic that I want to address in tonight’s speech – I want to argue that this is precisely the time for us to reaffirm that the rule of law – both domestically and internationally – is the necessary precursor to those democratic values, providing the foundations for political and economic flourishing.

    And I want to be clear that by the rule of law, I do not just mean rule by law; a purely procedural and formal conception that populists and authoritarians can themselves so often use as a cloak of legitimacy.

    One of Lord Bingham’s great contributions was to promote a more substantive conception of the rule of law, including the idea that the law must afford adequate protection of fundamental human rights. I too believe that human rights – both at the level of principle, and in practice through how they are enforced – are an essential element of the rule of law and a stable democratic culture. As well as recognising and protecting the dignity of all, they guarantee the essential rights and freedoms which underpin our system.

    Far from being at odds with democracy, as some populists would have us believe, the rule of law is the bedrock on which it rests. What good is democracy – indeed, can democracy exist – without the right to free and fair elections or freedom of speech, guaranteed by the right of access to the courts and an independent judiciary? And I would go further. Democracy, in my view, is inextricably related to the rule of law, properly understood. For what good is the rule of law without democracy, which confers essential legitimacy on the rules that govern the relationship between citizen and state?

    Lord Bingham’s conception of the rule of law also recognises that international law is the ‘Rule of Law’ writ large, and that States must comply with their international obligations, just as they must comply with domestic law. This, too, is crucial. International law is not simply some kind of optional add-on, with which States can pick or choose whether to comply. It is central to ensuring our prosperity and security, and that of all global citizens.  As will develop later, our reputation as a country that can trusted to comply with its international law obligations, and has a robust adherence to the rule of law, is essential to our ability to grow the economy, as grow it we shall.

    And maintaining our international reputation also enhances our ability to work with our partners to get things done in this time of global challenge. Rather than isolating ourselves from our closest allies, it means we can strengthen cooperation on issues like migration; whether that’s the Anti-Smuggling Action Plan, which the Home Secretary secured with G7 partners in Italy earlier this month; or closer working with international law enforcement partners to target smuggling gangs.

    To shore up the rule of law against the forces of populism, we must also emphasise its importance as an idea that unites, rather than divides us. The work to rebuild a political consensus around these values will not be easy. It must be proactive, cross-party and internationalist. It must be sensitive to any legitimate reasons why people have lost faith in the rule of law and its institutions. It will require patient, long-term thinking, hard work and consistent commitment to build the necessary coalitions, and to produce and implement detailed policy proposals.

    So, to meet these challenges it is my view that we need to take immediate steps to restore the UK’s reputation as a rule of law leader whilst at the same time also seek to build and secure the rule of law’s long term resilience in the face of threats known and unknown, domestic and international.

    Restoration and resilience.  Restoration and resilience.  In this speech, I want to talk about three themes that will guide this Government in this project.  As I outlined earlier, my first theme, is rebuilding the UK’s international rule of law leadership before turning next to the role of Parliament and then finally embedding a rule of law culture.

    Theme 1: rebuilding the UK’s international rule of law leadership

    The UK’s international rule of law leadership.

    Historically, the UK has been a leader in developing and promoting international law and the institutions on which its effectiveness depends. British lawyers and politicians have been at the forefront of drafting and negotiating the most important treaties that underpin our international legal system and building the institutional machinery that breathes life into those paper agreements.

    The UK will again demonstrate that leadership – so essential in today’s highly-connected, but highly fragmented, world – and sadly so absent in recent years.

    That starts by clearly, and without question, honouring our obligations under international law.

    Since taking office, this Government has already taken steps to uphold those obligations and demonstrate our deep commitment to international law. We have reached agreement with Mauritius to settle the historic sovereignty claims over BIOT/Chagos Archipelago in a manner that successfully marries our international law obligations with vital national security requirements; we have applied our IHL obligations by compliance with our arms licensing criteria – applying law not politics; we have made plain our commitment to our cornerstone international institutions not least the ICJ and ICC.

    And we will continue to abide by and unequivocally support the European Convention on Human Rights, including by complying with requests from the Court for interim measures. Walking, or threatening to walk away, would be a total abdication of our international law responsibilities and send out precisely the wrong message at a time when the rule of law is under threat in so many places.

    But we will go further than simply meeting our obligations under the Convention specifically and international law generally – that we will do so should go without saying. My point is that the UK will once again be a champion for international courts and institutions, taking positive steps to promote their importance and to rebuild the respect for them that the populists have sought to destroy.  As the Prime Minister has said, having discovered the Convention in a law library in Leeds some 40 years ago, the rights it sets out speak about the dignity of every human being, and are a source of inspiration from which we can all draw strength and value.

    After the First World War, the UK championed the establishment of a Permanent Court of International Justice. British Judges sitting in that Court and many subsequent international courts and tribunals have delivered judgments that have brought clarity to all areas of international law.

    I am therefore delighted that the UK National Group has announced its intention to nominate Professor Dapo Akande – who will be well known to many in this room – as the UK’s candidate for election to the International Court of Justice in 2026. I cannot think of a better representative for the UK’s expertise in international law and I am delighted to personally endorse Dapo’s campaign.

    And it is through international courts that we hope to finally see justice for Ukraine. I have dedicated my professional life to fighting for justice and accountability, and nowhere was the need for that more apparent than in my recent visit to Ukraine. I was profoundly struck by the stories I heard at Bucha’s cathedral and in Irpin.

    Despite the unimaginable suffering that the people of Ukraine have endured, they remain clear-eyed about the importance of the international rule of law and accountability. I – and the whole Government – remain steadfast in our support for Ukraine, on the battlefield and in the courtroom. This includes support for work towards establishing a Special Tribunal on the Crime of Aggression against Ukraine.

    But these systems, and the promise offered by international law, only work when we work in partnership with our friends and partners around the world.

    In many parts of the world, especially in the Global South, the international rules-based order and human rights are often seen as imperialist constructs, selectively invoked by western governments when it suits their interests. It is incumbent upon us to first, listen, to those who feel unheard. And secondly, to demonstrate – not just with warm words, but with concrete actions – that international law can deliver real benefits to all. And those actions must be consistent, we must show that we will hold ourselves to the highest standards.

    We will advocate for reform of the Security Council, to ensure that those with seats at the top table truly represent the global community. That means permanent representation from Africa, from Brazil, India, Japan and Germany.  And our approach to international development will show that we have learnt the lessons of history that, to be sustainable, the rule of law cannot be imposed on developing countries by former colonial rulers, but must be grown organically from within by working closely with local communities and institutions.

    And we will be unwavering in our commitment to tackling climate change, where we know that many of the worst effects are felt by those who have made the smallest contributions to this existential threat.

    Theme 2: defending and strengthening Parliament’s role in upholding the rule of law.

    My second theme is closer to home. A crucial part of restoring the rule of law, and building resilience in the face of future threats, involves thinking about the respective roles of our own institutions in upholding these fundamental values.

    This must start by recognising that upholding the rule of law cannot just be left to the courts. All branches of our constitution must see the rule of law, in its fullest sense, as a guiding force for their own actions.

    Speaking as a relatively new member of two of these branches, I hope my colleagues in this room will not mind if I offer some initial reflections on the role of Parliament in this regard; both in terms of its own functions, and the Government’s relationship to it.

    Parliamentary sovereignty is one of the fundamental features of our constitution and the ultimate legal authority of Parliament to make or unmake any law is crystal clear.  However, viewing the rule of law through this distorting lens of ultimate decision-making authority alone risks mistaking it for a purely formal, and thin, conception of ‘rule by law’. 

    As lawyers know, Parliament’s authority in our constitution is legal authority, an authority that requires that Parliament maintains in its legislation the ideals of the rule of law, of government under law, one of the contributions to the modern world of which we in the UK are justly proud.  And as I (following Lord Bingham) have explained, those ideals are much thicker and more substantive that the thin gruel of a formal conception of ‘rule by law’.

    We have seen in recent years where that disregard for our constitutional rule of law heritage can lead.  It is crucial that all institutional actors understand their role in a government under law. When Government invites Parliament to breach international law, or oust the jurisdiction of the courts, it not only undermines the rule of law, but also the mutual respect that historically has been one of the great strengths of our constitution.  It risks pitting one institution against another in ways that damage our reputation both inside and outside our borders as a law-abiding nation. 

    We must also work to counter the false choice, offered by some, between parliamentary democracy and fundamental rights. For almost a quarter of a century, the Human Rights Act has shown how it is possible, with imagination, to provide a legal framework for the protection of fundamental rights which can co-exist with parliamentary sovereignty. Indeed, the Act specifically preserves Parliament’s ultimate decision-making authority through its regime of non-binding Declarations of Incompatibility, defences, and section 19(1)(b) statements.

    And the enforcement of the Act otherwise by the courts, far from being at odds with democracy, is its vindication. Because it was our democratically elected Parliament that legislated for the Human Rights Act, and provided the mechanisms by which individual rights should be given meaningful effect in domestic law. It is testament to the framers of the Act that no Parliament elected since 1998 has chosen to fundamentally alter that position.

    It is also right to reflect on how Parliament can itself actively protect and enhance rule of law values. It does this through its scrutiny of legislation, most notably through the expertise of my colleagues in both Houses, but also through its Select Committee system. And it is incumbent on any government to ensure that those Committees are able to do their jobs effectively. I welcome the contribution that committees such as the Lords Constitution Committee, the Delegated Powers Committee and the Joint Committee on Human Rights make to the debate on human rights and the rule of law, and I look forward to working constructively with them in this Parliament.

    But there are aspects of Government’s relationship with Parliament that require more careful examination. Most pressingly, there is in my view a real need to consider the balance between primary and secondary legislation, which in recent years has weighed too heavily in favour of delegated powers.

    The twin challenges of Brexit and the Covid pandemic had the effect of concentrating immense power in the hands of the executive, through the conferral and exercise of broad delegated powers, including so-called Henry VIII powers. Some of this can be explained by the exceptional character, and unique demands, of both events. However, it would be a mistake to view this as an aberration. As the Delegated Powers and Regulatory Reform Committee have noted, Brexit and Covid did not mark the beginning of the shift in the balance between Parliament and the executive, so much as an acceleration and intensification of an existing trend.

    As technical as these issues may sound, they raise real questions about how we are governed. I said earlier that I see democracy as inextricably related to the rule of law. In our system of Parliamentary democracy, consent to be governed is expressed through the delegation, every four or five years, of powers by the governed to Parliament. It is the importance of this model of consent that explains in very large measure why I have been so concerned, on entering Government, to improve the standards we adhere to when we make policy and law – and specifically to ensure that the processes we adopt support the rule of law.

    Secondary legislation has an indispensable role to play in a modern, regulated society. There is no suggestion that the Government should not take or exercise delegated powers. However, excessive reliance on delegated powers, Henry VIII clauses, or skeleton legislation, upsets the proper balance between Parliament and the executive. This not only strikes at the rule of law values I have already outlined, but also at the cardinal principles of accessibility and legal certainty.

    In my view, the new Government offers an opportunity for a reset in the way that Government thinks about these issues. This means, in particular, a much sharper focus on whether taking delegated powers is justified in a given case, and more careful consideration of appropriate safeguards.

    Theme 3: promoting a rule of law culture, which builds public trust in the law and its institutions

    Finally, in my third theme I want to talk about culture and how we promote a rule of law culture which builds public trust in the law and its institutions – a vital task if the rule of law is to be made resilient enough to withstand the threats I have described in this age of populism.

    We begin this task from a difficult place. Too often, the starting point for debate is that law is part of the problem. At best, an abstraction that is disconnected from the realities of people’s lives. At worst, it can be held up by populists as a force that is somehow illegitimate. All of us who care about this subject – and particularly those of us in Government – need to work hard to counter these attitudes, and to foster a better understanding of the rightful place of law in a liberal democratic society.

    For Government, this means leading by example.  I hope you take some comfort in the fact that the importance of the rule of law and the constitutional balance is embedded in my DNA and that of a Prime Minister who not only rose to the top ranks of the Bar but served his country as DPP.  Vitally, it is also a principle deeply cherished and jealously protected by the Lord Chancellor who has overarching constitutional authority as the guardian of the rule of law not least to protect the independence of the judiciary.  Anyone who knows the Lord Chancellor and her determination to champion the rule of law will know that there will be no repeat of failures to defend attacks on the judiciary under her watch.   

    Of course, we will be judged by what we do, not what we may have done in the past let alone what we say now – and we will demonstrate our commitment to the rule of law in real and practical ways.  By way of example only, in the coming weeks I will issue an amended guidance for assessing legal risk across government that will seek to raise the standards for calibrating legality that the thousands of brilliant lawyers working in every part of government activity apply to deliver for the people of this country – I want them to feel empowered to give their full and frank advice to me and others in government and to stand up for the rule of law.

    But the challenge to rebuild a broad consensus around rule of law values, cannot be left merely to politicians.  It is a project that can only succeed if it is taken up by all of us, politicians, judges, lawyers, civil society, citizens. 

    We need to recognise that the populists have stolen a march – it is nearly always easier to deride and denigrate than it is to promote complex but vital principles.  We cannot stand by idly as rule of law principles and the human rights idea are undermined, sometimes without challenge, on television screens, the pages of newspapers and most effectively and invidiously of all, on social media.

    The challenge is to get out and explain the importance of the principles that we hold so dear – we have a fantastic story to tell and tell it we must. 

    We need to explain that the rule of law is not the preserve of arid constitutional theory.  We need to explain how it provides the stable and predictable environment in which people can plan their lives, do business and get ahead; in which businesses can invest, the economy can grow; people can resolve disputes fairly and peacefully, and express and enjoy their basic rights and freedoms. We must illustrate how systems that do not hold to these values can be arbitrary and capricious. And backsliding from Rule of Law values, once it begins, can take an unpredictable course.

    The story that we must tell is how the rule of law matters for growth, jobs and people’s livelihoods – how it impacts upon the pound in their pocket and on the type of future their children deserve to enjoy. Governments that undermine, or take a ‘pick and mix’ approach to these values, disincentivise investment. Today, we have hosted the Investment Summit with a clear message that Britain is open for business. Britain has many commercial advantages, but one of our greatest is the trust that businesses can have in our courts, and the confidence they can have in a stable and transparent business environment, underpinned by a strong rule of law.

    Education has a crucial role to play. We must take these messages to our schools and wider communities. I commend the work of civil society groups and charities such as Young Citizens and the Citizenship Foundation, and the Bingham Centre itself, who work with schools to promote a better understanding of the law and its importance in society. I believe it is right to think about whether even more can be done to strengthen the role of citizenship education as a means of promoting a better understanding of our constitution and, particularly, the importance of the rule of law.

    But we must also talk about these issues in a way that resonates with the public and in language that everyone understands. Because most people would instinctively recognise rule of law principles as values that are part of the very fabric of our society. Fair play. Justice. Rules that apply equally to all; not one rule for them, and another for the rest of us. And where disputes do arise – whether with a business, an employer, or a neighbour – an independent courts system which provides the means for their just resolution.

    And in the public realm, law is the great leveller that holds the powerful to account, and ensures that individual rights are respected. Those rights – human rights – are our rights, and belong to us all.  

    So it is we must proudly own the story of the European Convention on Human Rights, not least because in so doing we expose the wanton superficiality of many of its critics. We must explain how the values of the Convention are not foreign to us. They are universal. Closely connected rights are found deeply embedded in the heart of our own legal tradition. Echoes of habeas corpus, Magna Carta, and the Bill of Rights, can all be located in Articles 5 and 6 ECHR.  This country banned torture long before our continental cousins, never mind the promulgation of Article 3.  It is no coincidence that it was British lawyers, most notably the Conservative David Maxwell Fyfe, who helped to frame the European Convention after the Second World War, drawing of course inspiration from the Universal Declaration of Human Rights but also centuries of our own legal values.  It is simply legally fatuous and historically ignorant of armchair critics of the Convention to declare that its supporters somehow seek to undermine our traditions or should be dismissed as naive snowflakes. 

    To the contrary, the Convention was drafted by men and women who had witnessed the very worst that humans can do to each other, their views were forged not in a Tufton Street seminar but in the trenches and the battle grounds, in the prisoner of war camps and the historic prosecutions of the Nazi war criminals at Nuremberg.  The drafting and adoption took place not in a time of overindulgence but when societies were rebuilding from rubble and indeed this country was still under rationing.  They were hard-nosed men and women from a generation who had seen conflict and vowed ‘never again’.    The structures they helped to create, the values that underpin them, have served us well as a bulwark against totalitarianism, and a foundation for European peace. And they remain the best hope of protecting us from the threats we face today.

    For too long, populists have been able to frame the debate on human rights too narrowly, by reference to issues which, important as they are, can often feel disconnected from the everyday. We have to work to change this, not only by busting myths, but by showing how human rights positively touch so many aspects of wider society. The right to be treated equally. The right to express ourselves. The freedom to live in the way we choose, without undue interference from the state. These are the values we cherish and have chosen, collectively, to protect.

    So too must we work to combat disinformation and misinformation about law and lawyers. The disgraceful scenes of violent disorder over the summer, including threats against immigration law firms and advice centres, showed only too vividly that what is said online can have dangerous consequences in the real world.

    But the response to the riots also showed something more hopeful. People took to the streets not only to clean up and repair the damage, but to stand together against the forces of reaction and division. It is that spirit of decency and fairness that we must harness in our cause.   

    When I went to Liverpool I visited the library that had been burnt down in the riots and met a group of children who had been cowering under beds and in cupboards as the mobs went by at night but who the next morning got up and came to volunteer to rebuild.  I talked with them about the books that we were donating to the library (including Helena’s latest) which all concern how law and justice work for everyone – and we discussed the meaning and significance of the inscription that my office had placed inside each cover, taking the words of Dr Martin Luther King – that although the arc of humanity is long, it bends towards justice.

    Conclusion

    Restoration and resilience. These are the watchwords that will guide our defence of the rule of law in the face of populism. It is by renewing our commitment to rule of law values, as a Government and as a nation, at home and abroad, and patiently rebuilding the political consensus underpinning that commitment, that we will ensure that the rule of law is safe for future generations; so we may continue to work together towards achieving the Bingham Centre’s vision of ‘a world in which every society is governed by the Rule of Law in the interests of good government, peace at home and in the world at large’.

    Updates to this page

    Published 15 October 2024

    MIL OSI United Kingdom

  • MIL-OSI: Micron Fuels New Wave of AI PCs With Launch of Ultra-Fast Clock Driver DDR5 Memory Portfolio

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, Oct. 15, 2024 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU), today announced the availability of a brand-new category of clock driver memory with the launch of its Crucial® DDR5 clocked unbuffered dual inline memory modules (CUDIMM) and clocked small outline dual memory modules (CSODIMM), which are now shipping in volume. The JEDEC-standard solutions run at speeds up to 6,400 MT/s (megatransfers per second), more than twice as fast as DDR41 and 15% faster than traditional non-clock-driver-based DDR5.2 Designed to provide more speed stability, faster downloads and better refresh rates, these solutions represent a completely new frontier of memory form factors for next-generation PCs. Micron’s CUDIMM and CSODIMM solutions are the industry’s first commercially available JEDEC-standard DDR5 CUDIMM and CSODIMM solutions to hit the market since JEDEC standardized the specification earlier this year.

    In addition, Intel has validated Micron DDR5 CUDIMM and CSODIMM solutions up to capacities of 64 gigabytes (GB) for use with its Intel® Core™ Ultra processors (Series 2), which were launched last week on Oct. 10.

    “As AI takes flight, a memory paradigm shift is needed to keep pace with unprecedented system performance requirements,” said Dinesh Bahal, corporate vice president and general manager of Micron’s Commercial Products Group. “Micron is shipping the industry’s first JEDEC-standard, commercially available DDR5 CUDIMM and CSODIMM solutions to power fast, out-of-the-box speeds for AI PCs and high-end workstations. With this new category, we are arming the ecosystem with next-generation memory solutions to future-proof today’s devices for tomorrow’s AI workloads.”

    While DDR5 offers rapid speeds, scaling challenges have made it difficult to deliver DDR performance increases while ensuring reliable high speeds and signal integrity, especially when combining high bandwidth with large capacity. Representing an evolution of traditional UDIMMs, the new category of CUDIMMs and CSODIMMs feature a clock driver directly on the memory module to stabilize speeds. While most systems today rely on the clock from the CPU, using innovative engineering, Micron has directly integrated the clock driver into the memory module to conquer electrical challenges at the root, making memory faster and more stable.

    The validation of these new client memory modules by Intel will empower top PC manufacturers and integrators to begin adopting Micron’s innovative clock driver-based memory into forthcoming PC platforms. Notably, Micron is the first memory vendor to validate 32 gigabit die-based 64GB CUDIMM and CSODIMM solutions for Intel® Core™ Ultra desktop processors. This enables system capacities up to 256GB for AI PCs and high-end workstations, which demand high memory densities and performance.

    “Micron and Intel have been working together to bring next-generation compute performance to the market,” said Dimitrios Ziakas, vice president of memory and I/O technologies at Intel. “The powerful combination of Intel Core Ultra desktop processors and Micron’s latest clock driver-powered CUDIMM/CSODIMMs with up to massive 64 GB capacities will be critical to helping propel the next wave of data-rich AI PCs to 6400 MT/s speeds. By aligning our strategies and co-validating, we are offering the most advanced memory and CPU products to our customers and the market and accelerating ecosystem adoption of future-looking form factors.”

    The 6,400MT/s speeds provided by Crucial’s plug-and-play DDR5 CUDIMM and CSODIMM memory offer an out-of-the-box performance boost to AI PCs and other data-hungry workloads, whether users are upgrading from a DDR4 system or looking to increase DDR5 performance. The CUDIMM solutions are suited for desktop computers and the CSODIMM solutions for laptops.

    Consumers will be able to purchase the CUDIMM and CSODIMM solutions in 16GB capacities through Crucial.com, which will come with a limited lifetime warranty.3 Capacities of 64GB will be available for purchase through the channel during the first half of calendar year 2025.

    With the addition of DDR-based CUDIMMs and CSODIMMs, Micron continues to expand its memory portfolio with form factor and performance innovations to power next-generation PCs, including AI PCs, and increasingly demanding workloads.

    To learn more, visit here to learn more about Micron’s CUDIMM offerings and here to learn more about its CSODIMM offerings.

    Follow us online!
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    Crucial social channels:
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    About Micron Technology, Inc.
    We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications
    that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

    © 2024 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    1 DDR5 6,400MT/s speeds are comparable to extreme-performance DDR4 memory speeds and 2x faster than maximum standard DDR4 speeds of 3,200MT/s.
    2 Based on DDR5 running at maximum bandwidth of 5600 MT/s
    3 Limited lifetime warranty valid everywhere except Austria, Belgium, France, and Germany, where warranty is valid for ten years from the date of purchase.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0d734e10-1dab-4baf-b5ec-62f82945edeb

    The MIL Network

  • MIL-OSI Africa: Hamburg Sustainability Conference spotlights youth entrepreneurship in Africa, African Development Bank Group support for continent’s youth-led small and medium enterprises

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

    HAMBURG, Germany, October 14, 2024/APO Group/ —

    African youth entrepreneurs supported the by African Development Bank Group (www.AfDB.org) took center stage at the Hamburg Sustainability Conference on Monday.

    During a session, titled “Empowering Young Entrepreneurs in Africa,” executives of the African Development Bank and its partner the African Guarantee Fund (http://apo-opa.co/3Y78rMT), as well as young African business leaders showcased innovative approaches to bridging the financing gap for youth entrepreneurs.

    The two-day Hamburg Sustainability Conference, which drew global leaders, development institutions and young business founders across the continent, featured high-level discussions on reshaping international financial systems and creating investment environments that promote achievement of the United Nations Sustainable Development Goals.

    The session explored the impact of the Bank’s Affirmative Finance Action for Women in Africa (http://apo-opa.co/3Y3wpZI) initiative. Through AFAWA, the Bank has approved approximately $1.8 billion in lending for Africa’s women entrepreneurs; some $1 billion has already been disbursed to more than 18,000 women-led small and medium enterprises.

    Melanie Keita, CEO and co-founder of Melanin Kapital (http://apo-opa.co/48alJNA), a Nairobi-based fintech company that provides digital loans, and a beneficiary of AFAWA, spoke about the need for more accessible financing options for Africa’s youth-led startups. She questioned whether there were plans to digitise the loan process: “Can people access loans from their living room instead of having to travel a lot of time and then go with a lot of paperwork and being denied loans sometimes?”

    South Africa’s Minister in the Presidency Responsible for Planning, Monitoring, and Evaluation, Maropene Ramokgopa, told attendees that young African entrepreneurs are “drivers of change.” She urged governments to prioritise entrepreneurship policies and reduce bureaucratic barriers.

    “From financial technology, agriculture, renewable energy and creative sector to digital health solutions, young African entrepreneurs are transforming their communities,” Ramokgopa added. “They are also creating jobs and reshaping the economies as well.”

    Africa is facing a significant demographic shift: the continent is expected to be home to 1.4 billion people aged under 25 by the year 2063.

    Ahmed Attout, Director for Financial Sector Development at the African Development Bank, introduced its Youth Entrepreneurship Investment Banks (YEIB) initiative, designed to de-risk investing in youth entrepreneurs while fostering talent and entrepreneurship across Africa.

    “[The Youth Entrepreneurship Investment Banks initiative] is a one-stop shop that can give youth access to finance, employment guarantees, employment technical assistance,” Attout said, adding that the initiative is in the advanced implementation phase in Liberia and Ethiopia.

    Jules Ngankam, CEO of the African Guarantee Fund, an implementing partner of AFAWA, announced significant progress in delivering solutions for entrepreneurs. He said the Fund has issued $3 billion in guarantees, enabling commercial banks to lend $5 billion to small and medium-sized enterprises.

    The session was followed by a roundtable to stimulate networking between development institutions and African innovators. Joining Keita at the roundtable were two other beneficiaries of the Bank’s support: Chiemela Anosike, founder and CEO of Solaris GreenTech (http://apo-opa.co/48alKkC), and Ebun Feludu, CEO of Kokari Coconuts & Company (http://apo-opa.co/3A6ibiv), both Nigeria-based.

    Chiemela Anosike said the struggle for start-up success is real. “Entrepreneurship is hard. Entrepreneurship in Africa is harder…so, it’s difficult. So, we have programs like this…but then you give us another full-time job because you’re into fundraising and then it’s taking six months. You’re developing just one proposal [for financing] and it’s taking one month plus,” Anosike told roundtable participants.

    Bank Director for Human Capital, Youth and Skills Development Martha Phiri told the entrepreneurs that the Bank is integrating entrepreneurship skills into its vocational training programs, in recognition that not all graduates will find employment in existing job markets.

    Tapera Muzira, the Bank’s Lead Expert for Human Capital, Youth and Skills Development said the Bank’s Innovation and Entrepreneurship Lab (http://apo-opa.co/3YqnotZ), an online platform that connects African entrepreneurs with resources, financing, and business development services, is closing the information gap that limits youth potential to contribute to economies and communities.

    Earlier,  Norway’s Minister of International Development, Anne Beathe Tvinnereim, noted that her country is committed to supporting African youth entrepreneurship. She referenced the USAID and Norway-led Financing for Agricultural Small-and-Medium Enterprises in Africa program, a multi-donor fund designed to spur investment in Africa’s agricultural growth.

    “African youth constitute 60% of the population, which is why youth engagement and involvement is central in Norwegian foreign and development policies. Financing entrepreneurs is not enough. We need to build an entrepreneurial culture that supports solid institutional and regulatory frameworks,” Tvinnereim said.

    The Hamburg Sustainability Conference is organized annually by the United Nations Development Program, the German Federal Ministry for Economic Cooperation and Development (BMZ), the Michael Otto Foundation for Sustainability (http://apo-opa.co/48alMJg) and the City of Hamburg.

    MIL OSI Africa

  • MIL-OSI Global: Scientists around the world report millions of new discoveries every year − but this explosive research growth wasn’t what experts predicted

    Source: The Conversation – USA – By David P. Baker, Professor of Sociology, Education and Demography, Penn State

    The number of research studies published globally has risen exponentially in the past decades. AP Photo/Frank Augstein, file

    Millions of scientific papers are published globally every year. These papers in science, technology, engineering, mathematics and medicine present discoveries that range from the mundane to the profound.

    Since 1900, the number of published scientific articles has doubled about every 10 to 15 years; since 1980, about 8% to 9% annually. This acceleration reflects the immense and ever-growing scope of research across countless topics, from the farthest reaches of the cosmos to the intricacies of life on Earth and human nature.

    Derek de Solla Price wrote an influential book about the growth rate of science.
    The de Solla Price family/Wikimedia Commons

    Yet, this extraordinary expansion was once thought to be unsustainable. In his influential 1963 book, “Little Science, Big Science… And Beyond,” the founder of scientometrics – or data informetrics related to scientific publicationsDerek de Solla Price famously predicted limits to scientific growth.

    He warned that the world would soon deplete its resources and talent pool for research. He imagined this would lead to a decline in new discoveries and potential crises in medicine, technology and the economy. At the time, scholars widely accepted his prediction of an impending slowdown in scientific progress.

    Faulty predictions

    In fact, science has spectacularly defied Price’s dire forecast. Instead of stagnation, the world now experiences “global mega-science” – a vast, ever-growing network of scientific discovery. This explosion of scientific production made Price’s prediction of collapse perhaps the most stunningly incorrect forecast in the study of science.

    Unfortunately, Price died in 1983, too early to realize his mistake.

    So, what explains the world’s sustained and dramatically increasing capacity for scientific research?

    We are sociologists who study higher education and science. Our new book, “Global Mega-Science: Universities, Research Collaborations, and Knowledge Production,” published on the 60th anniversary of Price’s fateful prediction, offers explanations for this rapid and sustained scientific growth. It traces the history of scientific discovery globally.

    Factors such as economic growth, warfare, space races and geopolitical competition have undoubtedly spurred research capacity. But these factors alone cannot account for the immense scale of today’s scientific enterprise.

    The education revolution: Science’s secret engine

    In many ways, the world’s scientific capacity has been built upon the educational aspirations of young adults pursuing higher education.

    Funding from higher education supports a large part of the modern scientific enterprise.
    AP Photo/Paul Sancya

    Over the past 125 years, increasing demand for and access to higher education has sparked a global education revolution. Now, more than two-fifths of the world’s young people ages 19-23, although with huge regional differences, are enrolled in higher education. This revolution is the engine driving scientific research capacity.

    Today, more than 38,000 universities and other higher-education institutions worldwide play a crucial role in scientific discovery. The educational mission, both publicly and privately funded, subsidizes the research mission, with a big part of students’ tuition money going toward supporting faculty.

    These faculty scientists balance their teaching with conducting extensive research. University-based scientists contribute 80% to 90% of the discoveries published each year in millions of papers.

    External research funding is still essential for specialized equipment, supplies and additional support for research time. But the day-to-day research capacity of universities, especially academics working in teams, forms the foundation of global scientific progress.

    Even the most generous national science and commercial research and development budgets cannot fully sustain the basic infrastructure and staffing needed for ongoing scientific discovery.

    Likewise, government labs and independent research institutes, such as the U.S. National Institutes of Health or Germany’s Max Planck Institutes, could not replace the production capacity that universities provide.

    Collaboration benefits science and society

    The past few decades have also seen a surge in global scientific collaborations. These arrangements leverage diverse talent from around the world to enhance the quality of research.

    International collaborations have led to millions of co-authored papers. International research partnerships were relatively rare before 1980, accounting for just over 7,000 papers, or about 2% of the global output that year. But by 2010 that number had surged to 440,000 papers, meaning 22% of the world’s scientific publications resulted from international collaborations.

    This growth, building on the “collaboration dividend,” continues today and has been shown to produce the highest-impact research.

    Universities tend to share academic goals with other universities and have wide networks and a culture of openness, which makes these collaborations relatively easy.

    Today, universities also play a key role in international supercollaborations involving teams of hundreds or even thousands of scientists. In these huge collaborations, researchers can tackle major questions they wouldn’t be able to in smaller groups with fewer resources.

    Supercollaborations have facilitated breakthroughs in understanding the intricate physics of the universe and the synthesis of evolution and genetics that scientists in a single country could never achieve alone.

    The IceCube collaboration, a prime example of a global megacollaboration, has made big strides in understanding neutrinos, which are ghostly particles from space that pass through Earth.
    Martin Wolf, IceCube/NSF

    The role of global hubs

    Hubs made up of universities from around the world have made scientific research thoroughly global. The first of these global hubs, consisting of dozens of North American research universities, began in the 1970s. They expanded to Europe in the 1980s and most recently to Southeast Asia.

    These regional hubs and alliances of universities link scientists from hundreds of universities to pursue collaborative research projects.

    Scientists at these universities have often transcended geopolitical boundaries, with Iranian researchers publishing papers with Americans, Germans collaborating with Russians and Ukrainians, and Chinese scientists working with their Japanese and Korean counterparts.

    The COVID-19 pandemic clearly demonstrated the immense scale of international collaboration in global megascience. Within just six months of the start of the pandemic, the world’s scientists had already published 23,000 scientific studies on the virus. These studies contributed to the rapid development of effective vaccines.

    With universities’ expanding global networks, the collaborations can spread through key research hubs to every part of the world.

    Is global megascience sustainable?

    But despite the impressive growth of scientific output, this brand of highly collaborative and transnational megascience does face challenges.

    On the one hand, birthrates in many countries that produce a lot of science are declining. On the other, many youth around the world, particularly those in low-income countries, have less access to higher education, although there is some recent progress in the Global South.

    Sustaining these global collaborations and this high rate of scientific output will mean expanding access to higher education. That’s because the funds from higher education subsidize research costs, and higher education trains the next generation of scientists.

    De Solla Price couldn’t have predicted how integral universities would be in driving global science. For better or worse, the future of scientific production is linked to the future of these institutions.

    David Baker receives funding from the U.S. National Science Foundation, U.S. National Institutes of Health, Fulbright, FNR
    Luxembourg, and the Qatar Nation Research Fund.

    Justin J.W. Powell has received funding for research on higher education and science from Germany’s BMBF, DFG, and VolkswagenStiftung; Luxembourg’s FNR; and Qatar’s QNRF.

    ref. Scientists around the world report millions of new discoveries every year − but this explosive research growth wasn’t what experts predicted – https://theconversation.com/scientists-around-the-world-report-millions-of-new-discoveries-every-year-but-this-explosive-research-growth-wasnt-what-experts-predicted-237274

    MIL OSI – Global Reports

  • MIL-OSI Global: What is a communist, and what do communists believe?

    Source: The Conversation – USA – By Aminda Smith, Associate Professor of History, Michigan State University

    Seeking social change often requires collective action. champc/iStock / Getty Images Plus

    Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to CuriousKidsUS@theconversation.com.


    What is a communist? – Artie, age 10, Astoria, New York


    Simply put, a communist is someone who supports communism. I study the history of communism, which is a political and economic view.

    Communism has long been controversial, and in the U.S. today, reputable sources disagree about it. Some experts argue that communist views are well supported by historical evidence about the way societies have developed over time. Others suggest that history has shown communism not to work.

    Many of those appraisals are based on examples of people who tried to establish communism. Communists have launched revolutions in many places including Russia and China. In five countries – China, North Korea, Laos, Cuba and Vietnam – communist parties control the current governments. The economic and political systems in those countries are not fully communist, but some might be working to transition from capitalism to communism.

    In part because the U.S. has difficult relationships with these countries, many Americans have negative views of communists and communism. To evaluate those countries and to decide your own opinions about communism in general, it is important to first be clear about what the principles of communism are.

    Communists believe that people should share wealth so that no one is too poor, no one is too rich, and everyone has enough to survive and have a good life.

    A communist might be a member of a Communist party, which is a political party, or a member of a group of people who want to play a role in government.

    The opening of the 2014 convention of the Communist Party of the United States of America.

    In communism, people work together to produce and distribute the things they need to live, such as food, clothing and entertainment. That does not mean that everything is shared at all times.

    In a communist society, individuals might still live in their own homes and have their own food, clothing and personal items such as televisions and cellphones. However, the places where these items were produced, such as factories and farms, would be owned by everyone.

    Similarly, a person might still create artistic products such as works of literature or craftsmanship on their own. The goal would not be to make money, though, but instead to share for everyone to enjoy.

    Communists support some form of collective ownership. Ownership by everyone would ensure that all members of society have equal rights to the products from the factories and farms because they would all be part owners of the enterprises.

    In such a society, everyone would also have equal political rights and would participate in governance together. Theoretically, communism should entail some form of democracy.

    What is Marxism?

    German philosopher Karl Marx.
    John Jabez Edwin Mayal via Wikimedia Commons

    Throughout history, there have been many different views on what communism is, how it should be organized and how it might be achieved. The most famous theories about communism are probably the ones that were developed by a German philosopher named Karl Marx. His ideas are often called Marxism.

    Marx studied history and observed that the way people produced goods and services was closely related to who held power. For example, in farming societies, those who owned the land had more power than those who did not.

    Marx also noticed that people with less power had often risen up, usually violently, to overthrow the powerful people. He called this concept class struggle. He believed this process was how societies developed from one system of government and economy to another. He claimed that class struggle led societies through a progression toward greater efficiency in the production of goods and services, higher levels of technology and wider distribution of social and political power.

    When Marx was alive in the 1800s, an economic and political system called capitalism had developed in many countries. In capitalist societies, the economy centered on factories. Factory owners had significant political and economic influence.

    Marx observed that in countries such as Germany, England and the United States, factory owners hired laborers who worked long hours producing goods such as shirts or tables. While the factory owners sold these products at high prices, they paid the workers very little. As a result, the factory owners became richer, while many workers struggled to afford the goods they produced or even to provide food for their families.

    Marx believed that this inequality would eventually lead to a worker uprising. During their revolution, Marx predicted, the workers would seize control of the factories, begin running them more fairly, and this would lead to a new political system, known as socialism.

    Where does socialism fit in?

    A campaign poster from 1976, spotlighting the candidates from the Communist Party of the United States of America.
    Library of Congress

    Of course, if the workers staged a revolution, the factory owners would fight back. Marx thought that, immediately after the revolution, the workers would first need to create a strong government to prevent the owners from reestablishing capitalism. During that phase, which Marx called socialism, the workers would run the government while they continued moving away from capitalism and trying to create a more equal society.

    Marx thought people would eventually see that socialism was much better than capitalism because socialism would end exploitation while still allowing a society to continue moving toward better economic and political practices, but without inequality. Once that happened, a government would no longer be necessary.

    The society would become communist. There would still be governance, but not a government that was separated from the people. Rather, in a communist society, the people would govern together, and everyone would do some of the work and receive what they needed.

    There are Communist parties in many places, and many are currently working to move their countries toward communism. At this time, no country has yet made the transition to full communism, but many people still hope that transition will happen somewhere, sometime. Those people are communists. Communists are optimistic that humans can one day create a more fair and equal society.


    Hello, curious kids! Do you have a question you’d like an expert to answer? Ask an adult to send your question to CuriousKidsUS@theconversation.com. Please tell us your name, age and the city where you live.

    And since curiosity has no age limit – adults, let us know what you’re wondering, too. We won’t be able to answer every question, but we will do our best.

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

    ref. What is a communist, and what do communists believe? – https://theconversation.com/what-is-a-communist-and-what-do-communists-believe-234255

    MIL OSI – Global Reports

  • MIL-OSI: Agillic audited in accordance with ISAE 3000 Type 2, testament to its commitment to security and compliance

    Source: GlobeNewswire (MIL-OSI)

    Press Release, Copenhagen, 14 October, 2024 

    Data security is non-negotiable. That is why the Agillic platform has undergone a rigorous independent audit of security practices and ensuring full compliance with GDPR and other regulatory requirements.

    Agillic’s security measures include strong encryption, continuous monitoring, stringent access controls, risk assessments, penetration tests, and vulnerability scans are performed regularly to stay ahead of potential threats.

    The ISAE 3000 Type 2 audit is an important and valuable part of Agillic’s ways to conduct business for the many different industries using the platform – not least the finance and public sectors. 

    Says Allan Sørensen, VP, Service Operations:
    “At Agillic, we prioritise our clients’ data security and privacy. We are proud to announce that our omnichannel marketing platform has been independently audited by Deloitte in accordance with the international ISAE 3000 Type 2 standard. This audit underscores our unwavering commitment to protecting clients’ data and ensuring compliance with the highest standards in information security.”

    For further information, please contact
    Emre Gürsoy, CEO, Agillic A/S
    +45 3078 4200
    emre.gursoy@agillic.com

    About Agillic A/S
    Agillic (Nasdaq First North Growth Market Copenhagen: AGILC) is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create, automate and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark, with teams in Germany, Norway, and Romania.
    Agillic A/S – Masnedøgade 22 – 2100 Copenhagen – Denmark – www.agillic.com

    The MIL Network

  • MIL-OSI Economics: VP Roberta highlights ADB’s work on sustainable finance, local currency at Hamburg Sustainability Conference

    Source: Asia Development Bank

    Article | 10 October 2024
    Read time: 1 min

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    From 7 to 8 October, VP Roberta led ADB’s delegation, in coordination with the European Representative Office,  to the first Hamburg Sustainability Conference, a joint initiative by the German Federal Ministry for Economic Cooperation and Development (BMZ), the UNDP, and the City of Hamburg. The VP met with Germany’s Parliamentary State Secretary and ADB Governor Niels Annen and State Secretary Baerbel Kofler. VP Roberta also participated in the Multi-stakeholders Collaboration to Enhance Credit Ratings and Country Risk Assessments roundtable with high-level representatives from governments, peer multilateral development banks, international financial institutions, credit rating agencies. At the side event Sustainable Finance Forum on 9 October, VP Roberta highlighted ADB’s work in local capital markets development, currency lending, and sustainable finance.

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    MIL OSI Economics

  • MIL-OSI Global: Neanderthal remains found in France reveals there were not one, but at least two lineages of late Neanderthals in Europe

    Source: The Conversation – France – By Ludovic Slimak, Archéologue, penseur et chercheur au CNRS, Université de Toulouse III – Paul Sabatier

    31 out of 34 of Thorin’s teeth were found, making it the most complete dentition ever found from a Neanderthal. Ludovic Slimak, Fourni par l’auteur

    The prevailing narrative of how humanity came about seemed straightforward enough: in Europe, the last Neanderthals bowed out as Homo sapiens began arriving on the continent around 40,000 to 45,000 years ago. Neanderthals were thought to be part of a single, genetically homogeneous population, spread across Spain, France, Croatia, Belgium, and Germany. Genetic studies supported this view, suggesting a uniform population that would eventually give way to the newcomers, Homo sapiens. In just a few millennia — between 45,000 and 42,000 years ago — the brief cohabitation of these two species in Europe ended with the replacement of Neanderthals. The explanation was elegant and simple – perhaps a little too simple.

    A new lineage of Neanderthals

    Our research published in Cell Genomics on 11 September complicates this picture, revealing that there was not one, but at least two lineages of Neanderthals, following genetic analysis of body remains found in the Mandrin Cave, southeastern France. The study in Cell Genomics, which I co-lead with Tharsika Vimala and Martin Sikora, population geneticists at the University of Copenhagen in Denmark, as well as Andaine Seguin-Orlando, a paleogenomicist at the University of Toulouse, is the culmination of nearly ten years of research leading to the discovery of France’s first Neanderthal body since 1978. We have chosen to call him Thorin after the writings of J.R.R. Tolkien, since Thorin was one of the last dwarf kings in Tolkien’s lore. Fittingly, the Thorin of the Mandrin Cave is believed to be one of the last Neanderthals.

    He is among the most recent occupations of the Mandrin Cave. We discovered his first teeth in 2015, lying on the ground at the cave’s entrance, barely covered by a few leaves. Although the teeth were initially exposed, they were embedded in fragile sand, making the excavation delicate. The slightest brush stroke risked displacing the precious remains, making it difficult to determine their precise position in the ground. As the head of research at Mandrin Cave, I decided we proceed to excavate the body with tweezers. Grain by grain, our team worked painstakingly for two to three months each – a process that has lasted for nine years and is still ongoing. This Herculean field effort allowed the recovery of the tiniest remains, which were carefully documented in their original positions. Through three-dimensional mapping, the team has reconstructed the exact location of the remains in the ground.

    Meet Thorin

    So far, 31 teeth (Thorin had 34, representing the first Neandertal ever found with surnumerary molars), along with the jawbone, fragments of the skull, phalanges and thousands of tiny bones have been discovered. The excavation process here requires remarkable patience; after nine years of effort, we have only managed to clear a small window of about 50 cm by 30 cm wide. Numerous remains of this body are likely to gradually emerge in the coming years.

    Our study shows that Thorin’s population diverged significantly from other Neanderthals in Europe over more than 50,000 years. Unlike most late Neanderthals, who display genetic homogeneity, Thorin’s lineage remained genetically distinct from 105,000 years ago until their extinction.

    This raises the question: How could human populations remain isolated for tens of thousands of years, despite living within a two-week walking distance of each other? This is the challenge Thorin presents us with. Evolutionary, cultural, and social processes that seem unimaginable if we try to apply them to Sapiens populations, as we understand them through cultural anthropology, history, and archaeology. Something appears to profoundly differentiate the ways of being in the world of Neanderthals and Sapiens, something far deeper than mere cultural or territorial issues. It confronts us directly with the enigma of Neanderthal and, quite possibly, our own inability to understand these ancient species.

    Thorin’s peers and other ghosts

    Strikingly, we found that Thorin is not the only one in his lineage, with genetic analysis revealing links to another Neanderthal discovered over 1,700 kilometers away, in Gibraltar. This Neanderthal, nicknamed Nana, was thought to be an ancient individual who lived 80 to 100,000 years ago. However, the study in Cell Genomics reveals that Nana and Thorin lived during the same period — within the last millennia of Neanderthal existence. This close genetic proximity suggests that Nana and Thorin belonged to the same population of late Neanderthals, a population that would no longer have any exchanges with the classic European Neanderthals after the 105th millennium and up until their astonishing extinction 42,000 years ago.

    Our study also suggests the existence of a “ghost” Neanderthal lineage — another population that roamed Europe at the same time, yet remains unknown. This implies that there were other Neanderthal populations in Europe in relatively recent periods that belonged neither to the classic Neanderthals nor to Thorin’s population, but genetics is then able to identify moments when Thorin’s ancestors could episodically exchange genes with these ghost populations that remain largely unknown to archaeology and genetics. A fascinating story then slowly begins to emerge in which Neanderthal is not a monolithic block but is represented by different populations that nevertheless developed only rare (and sometimes no) exchanges among themselves.

    Rewriting everything we know about early humanity

    The revelations of additional lineages of Neanderthal are the latest discovery to prompt us to radically rethink our understanding of early humanity. In 2022, after 32 years of archaeological research, our team had already revealed the existence of a first Sapiens migration to European territory 10,000 to 12,000 before the first migrations previously recognized. In the following year, we released three papers questioning our conceptions of this singular moment in human history, redefining not only the timing of these populations’ arrival but also that they had mastered advanced technology such as the bow and arrow, tracing back their steps to the Mediterranean Levant, and proposing a profound redefinition of the entire historical structure of this singular moment in European history.

    The latest discovery of Thorin’s remains, which I began to unveil in The Naked Neanderthal, poses countless questions. Did Neanderthal die out like the dinosaurs following a natural upheaval carrying away his entire world? Around Neanderthal, theories related to climate change, volcanic explosions, cosmic radiation, or devastating epidemics have flourished in recent years. To understand Sapiens replacing Neanderthal, we must, above all, understand what Neanderthal was. And what Sapiens is. And it is my conviction that the nature of the two creatures deeply eludes us.

    The research continues, and, as more discoveries are made, the story only deepens.

    Ludovic Slimak ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    ref. Neanderthal remains found in France reveals there were not one, but at least two lineages of late Neanderthals in Europe – https://theconversation.com/neanderthal-remains-found-in-france-reveals-there-were-not-one-but-at-least-two-lineages-of-late-neanderthals-in-europe-238606

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Chancellor announces new plans to secure UK investment

    Source: United Kingdom – Executive Government & Departments

    The Chancellor closes the International Investment Summit promising the government is bringing investment and jobs back to Britain.

    In a speech to some of the world’s biggest businesses and investors, Rachel Reeves revealed that restoring fiscal stability will be at the centre of her first Budget on 30 October. She made the case that it is the only way to ensure government and business can invest with confidence. 

    The Chancellor went on to set out how two new bodies will drive long-term investment in Britain as the government works hand in hand with business to create new high skilled jobs right across the UK, helping make people better off. 

    Chancellor of the Exchequer Rachel Reeves, MP said: 

    When we said we would end instability, make growth our national mission and enter a true partnership with business we meant it.  

    The decisions which lie ahead of us will not always be easy. But by taking the right choices to grow our economy and drive investment we will create good jobs and new opportunities across every part of the country. That is the Britain we are building. 

    The first announcement from the Chancellor was that from today the UK Infrastructure Bank will operate as the National Wealth Fund (NWF), with its headquarters in Leeds. 

    The National Wealth Fund will catalyse tens of billions of pounds of private investment into in the UK’s clean energy and growth industries, including green hydrogen, carbon capture and gigafactories.

    Building on UKIB’s leadership and expertise, the NWF will go further, able to make investments that maximise the mobilisation of private investment. This will include the ability to trial new blended finance solutions with government departments that take on additional risk to facilitate higher impact in individual deals and performance guarantees. 

    The National Wealth Fund will have a total of £27.8 billion and will work with key industry partners, including mayors, to support delivery of their investment plans. 

    The Government will also bring forward legislation to give the NWF a broader mandate than just infrastructure, ensuring it is a permanent part of government’s investment offer. 

    John Flint, CEO, at the National Wealth Fund said: 

    It is a huge privilege to be entrusted with the responsibility of leading the National Wealth Fund. Building on the strong foundations we have laid as UKIB, we will hit the ground running, using sector insight and investment expertise that the market knows and trusts to unlock billions of pounds of private finance for projects across the UK.

    With additional capital to deploy against a bigger mandate, we stand ready to help the market invest with confidence, in support of the Government’s growth ambitions.

    Alongside this the Chancellor, together with Secretary of State for Business and Trade Jonathan Reynolds, announced a new British Growth Partnership as part of the British Business Bank (BBB). 

    The BBB already supports the UK’s fastest growing, most innovative companies deploying £3.5bn to support over 23,000 businesses last year. 

    The British Growth Partnership will allow it to do more by creating a new way for the British Business Bank and institutional investors to invest in innovative companies together.

    Leveraging the British Business Bank’s market expertise, these long-term investments will be made independently of government on a fully commercial basis. In the coming months, the British Business Bank will seek to raise hundreds of millions of pounds of investment for this fund, with the aim of making investments by the end of 2025.

    Additionally, the government will implement a set of reforms to the British Business Bank’s financial framework that will increase its impact and increase its ability to respond flexibly to the market, including by putting the British Business Bank’s £7.9bn set of commercial programmes on a permanent footing.

    Louis Taylor, CEO, British Business Bank said:

    Today’s announcement is a strong endorsement of the British Business Bank’s 10-year track record, market access and capabilities. By establishing the British Growth Partnership, the Bank will encourage more UK pension fund investment into the UK’s fastest growing, most innovative companies. 

    In addition, reforms to the Bank’s financial framework, putting our £7.9bn commercial programmes on a permanent footing, means we can flexibly re-invest our investment returns over the long term to increase growth and prosperity across the UK.

    Today’s measures follow the Government announcing more than £24 billion of private investment for pioneering energy projects and thousands of jobs in the green industries secured ahead of International Investment Summit.

    This adds to the announcement last week that up to 500 UK manufacturing jobs are set to be supported as bus operator Go Ahead confirms a major £500 million investment to decarbonise its fleet. This includes creating a new dedicated manufacturing line and partnership with Northern Ireland-based UK bus manufacturer Wrightbus.    

    And it also builds on the Government confirming funding to launch the UK’s first carbon capture sites in Teesside and Merseyside. Two new carbon capture and CCUS enabled hydrogen projects will create 4,000 new jobs, in a boost for the economy and British industry, helping remove over 8.5 million tonnes of carbon emissions each year – the equivalent of taking around 4 million cars off the road.    

    Further quotes:

    Dame Julia Hoggett, CEO, London Stock Exchange Plc said:

    It is critically important for the growth of the UK economy that home grown companies are able to access the investment they need to grow, scale and stay in the UK. 

    Access to meaningful UK capital at the scaling phase has been a long-recognised challenge and so we are delighted that British Growth Partnership is being established to help address this problem. This will also facilitate more investment by UK pension schemes into scaling UK companies, providing greater returns for their savers and giving UK investors a greater stake in the UK economy.

    Sir Nicholas Lyons, Group Chair, Phoenix said:

    The UK needs scale and skills to convert our brilliant science and technology start-ups and university spinouts into the successful and sustainable companies of tomorrow.  British Growth Partnership will complement the private sector DC pension industry’s undertakings under the Mansion House Compact to expedite this, directing investment to deliver the best returns for our pension savers.

    Professor Sir John Bell, President, Ellison Institute of Technology said:

    Making sure the best innovative British companies can access the capital they need to scale and stay in the UK is critical for the future of the economy. The Chancellor’s announcement today of the new British Growth Partnership, in addition to confirming £7.9bn of permanent capital for the British Business Bank, are both very welcome and significant steps forward in solving this problem

    Sir Jonathan Symonds CBE, Non-Executive Chair, GSK said:

    This is a welcome step; encouraging institutional investment into the UK’s high-growth-potential companies can provide a real boost to the economy and generate better returns for individuals’ pension investments

    Brent Hoberman, Chairman and Co-Founder, Founders Forum Group, Founders Factory, firstminute capital said:

    It’s great to see the new government taking concrete steps to amplify the Mansion House reforms.   This new British Growth Partnership should help UK startups access further scale up capital to create more world leaders.

    Saul Klein, Co-founder, Phoenix Court and Member of the Council for Science and Technology said:

    The UK has more than 750 venture backed companies generating more than $25m in revenue – this is more than France, Germany, Sweden and the Netherlands combined. These companies have created over 200,000 new jobs and continue to grow but the UK still has $35bn less scale up capital to support these companies than the United States’ Bay Area alone.

    The government’s continued support for the British Business Bank and its focus on addressing this scale up opportunity will be very much welcomed by these 750 companies as well as the cohorts coming behind them.

    Peter Harrison, Group Chief Executive, Schroders plc said:

    These are further helpful initiatives in creating an environment where risk capital can flow into strategically important industries. Every step is welcome in supporting future economic growth.

    Edward Braham, Chairman, M&G said:

    We welcome the creation of the British Growth Partnership which should unlock much needed investment into the UK’s high growth innovative businesses.

    The combination of private and public sector partnerships, underpinned by long term patient capital, is essential to create the conditions for sustainable growth. 

    As a leading international investor, M&G has a proud history of supporting the progress of businesses and communities across the UK, investing in new innovative companies and private assets such as housing, hospitals and transport.

    Steve Bates OBE, CEO of the BioIndustry Association, said:

    Our world-leading, innovative life sciences and biotech sector is a unique competitive advantage for economic growth. The sector attracts expert global investors but a lack of investment from UK-based institutional investors means the economic and social returns are too often lost overseas.

    The British Growth Partnership will help turbo-charge innovative businesses with fresh UK-based capital, enabling them to scale in the UK and deliver more returns to the British economy, and to ordinary people saving for their retirement. This is a win-win-win for UK life science businesses, for UK pension savers and for the forward-thinking financial services sector.

    Kate Bingham, Managing Partner, SV Health and Former Chair UK Vaccine Taskforce welcomed the announcements saying:

    The UK has the potential to be a global leader and hub for healthcare breakthroughs with its strong entrepreneurial and academic base, together with our expertise and innovation in data science and artificial intelligence.

    Making the British Business Bank independent of government as well as launching the British Growth Partnership enables the Bank to catalyse institutional investment, including from pension funds, into brilliant UK companies that are supercharging the development of revolutionary medical treatments including smarter medicines for cancer, Alzheimer’s and blindness.

    Dom Hallas, Executive Director, Startup Coalition said:

    Tech startups and scaleups need a stable and improving funding environment to compete globally. The British Business Bank’s role in helping create that landscape is critical and today’s announcement will help the UK continue to build VC-backed tech companies across the country that are ready to compete with the very best.

    Michael Moore, Chief Executive, BVCA said:

    It is extremely welcome that the Government and the British Business Bank have brought this hugely significant programme forwards so quickly.

    The prize is to get significant new capital into the growth equity and venture capital funds that are creating new industries and backing innovative businesses that will be the backbone of the British economy of tomorrow. The British Business Bank has a vital role catalysing institutional investment into fast growing British businesses and this announcement will boost that work substantially.

    Just 3% of the pensions investment into UK led growth equity and venture capital funds is from UK pension funds. Alongside the Government’s pensions review this major new vehicle can be the start of a major shift that sees UK pensions savers get the improved retirement income that can come from backing funds which deliver active ownership and long-term investment in business.

    Kerry Baldwin, Co-Founder, Managing Partner, IQ Capital said:

    The launch of the British Growth Partnership and the confirmation of a permanent capital allocation for the British Business Bank are two crucial steps forward in solving the lack of access to domestic capital for the UK’s most promising growth companies.

    I very much welcome the Chancellor’s announcement today, she has been hugely engaged with the venture capital and technology sector, and champions the incredible societal impact that our sector enables through investments into innovative technologies across the UK.

    The British Business Bank has been at the heart of powering the next generation of UK venture and growth funds and the launch of the new fund is welcome as part of the pension reforms.  This fund will enable access to world-leading science and innovative investments which increase productivity by transforming legacy industries through the adoption of novel technologies and also by providing growth capital to the next generation of globally leading frontier technologies which are solving pressing critical global issues from climate change to energy transition.

    Dr Andrew Williamson, Managing Partner, Cambridge Innovation Capital, and member of BVCA Council said:

    Since its formation in 2018, British Patient Capital has played a central role in the growth of the UK’s knowledge-intensive innovation ecosystem.  It has built a world leading team and investment platform with a strong track record of investing in UK deeptech and life sciences companies and the venture capital funds that support these companies. 

    The British Growth Partnership will make the Bank’s extensive expertise available to a broader range of institutional investors, providing attractive returns for those investors and increasing the capital available for leading UK start-up and scale-up businesses.

    Duncan Johnson, Chief Executive Officer, Northern Gritstone said:

    We at Northern Gritstone believe that skilled partnerships that channel patient investment into long-term growth and innovation are more important than ever for the UK. 

    By establishing the British Growth Partnership, the British Business Bank is creating a pathway for pension funds and institutional investors to support the future today. Through investment we can create and scale the world class businesses of tomorrow in the UK which is the platform for growth for our economy over the decades to come.

    Irene Graham OBE, CEO, ScaleUp Institute said:

    The ScaleUp Institute has long evidenced the important role of development banks and Sovereign Wealth Funds to global scaleup economies.  The Government’s  placement of the British Business Bank commercial initiatives into permanency, with greater  flexibility, alongside the creation of the great British Growth Partnership are very much welcome and represent significant milestones for the UK economy. 

    Alongside a National Wealth Fund these entities and commitments should further address structural, regional and sectoral disparities and ensure our innovative scaling businesses across the country are better connected, at all stages of growth, to the vital patient capital and institutional funds to enable their global scale and continue to foster our international competitiveness.

    Lisa Quest, Managing Partner UK and Ireland, Oliver Wyman:

    Today’s announcement is a significant milestone for the UK economy. The National Wealth Fund will increase investment across key sectors and accelerate the UK’s clean energy transition. I look forward to the many contributions this initiative will unlock for years to come.

    Dr Rhian-Mari Thomas, Chair of the Taskforce and CEO of the Green Finance Institute said:

    The NWF creates an opportunity for simplification and scale. The challenge now is to ensure it delivers private capital at the pace we need, through innovative risk-sharing transactions in new technologies.


    On top of today’s announcements, the government expects both successful bidders of the Long-Term Investment for Technology and Science (LIFTS) competition, Schroders and ICG, to begin making investments via their new funds in late 2024. Supported by pensions capital from Phoenix Group, the aim is to generate over a billion pounds of investment into UK science and technology companies.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Former Lord Mayor Keiran Mulhall

    Source: City of Coventry

    Tributes have been paid to a former Coventry Lord Mayor and councillor who died at the weekend.

    Keiran Mulhall served as a councillor for Radford ward between 1998 and 2018, and as Lord Mayor in 2011.

    He was made an Honorary Alderman in 2018.
     

    Leader of the Council, Cllr George Duggins, said: “Keiran played a full part in the life of the city and laid a wreath in the Memorial Park on behalf of the Royal Army Medical Corps as recently as November last year.

    “He was a dedicated and caring councillor and loved his city. I shall miss Keiran as a friend, as I know many of us on the Council will.”

    Lord Mayor Cllr Mal Mutton, who served with Keiran as a fellow Radford councillor, said: “I know that being named Lord Mayor of his city was a great honour for him and he was so proud.

    “He was a brilliant ward councillor who cared deeply for the city, for Radford and for its people. He will be truly missed, and I have lost a really dear friend. Our thoughts are with his loved ones.”

    Cllr Gary Ridley, Leader of the Opposition Conservative Group, added: ““Keiran was a real servant of the people, and he contributed fully to civic life over many years in a number of different roles.

    “He was also great company, and I enjoyed spending time with him on many occasions. I’ll particularly remember his wit and sense of humour.”

    Keiran was married to Norma who died during his year as Lord Mayor. He was born in the city and spent almost his whole life in Wyken and worked at Daimler Motor Company for 40 years.

    He joined Daimler when he was 15 and spent his entire working life with the company – except for a short gap in the 1950s when he travelled to Germany and Belgium with the Royal Army Medical Corps as part of his National Service.

    Details of the funeral have yet to be announced.

    Published: Monday, 14th October 2024

    MIL OSI United Kingdom

  • MIL-OSI Security: NATO Secretary General visits SHAPE and new NATO command to support security assistance to Ukraine based in Germany

    Source: NATO

    NATO Secretary General Mark Rutte met with the NATO Supreme Allied Commander Europe (SACEUR), General Christopher Cavoli and other senior officials during his first visit to the Alliance’s Supreme Headquarters (SHAPE) in the Belgian city of Mons on Monday (14 October 2024).

    In the afternoon, the Secretary General travelled with General Cavoli to Wiesbaden, Germany to visit NATO’s new Security Assistance and Training Ukraine (NSATU) command at the Clay Barracks, where the Secretary General also met with German Defence Minister Boris Pistorius.

    In talking with the troops, Mr. Rutte noted how important their work was, preparing the way for 700 personnel who will be stationed in Wiesbaden and at logistical nodes on the Eastern flank of the Alliance. He said that the new command will make a real difference for Ukraine on the battlefield and “for our own security”.

    NSATU will coordinate the provision of military training and equipment for Ukraine by NATO Allies and partners – including artillery, ammunition and air defences – and will help Ukrainian forces prepare for the future.

    MIL Security OSI

  • MIL-OSI Global: Ukraine faces worsening odds on the battlefield and a struggle on the diplomatic front after Biden postpones summit

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    In May 2023, Ukraine’s president, Volodymyr Zelensky, embarked on a whistle-stop tour of European capitals to shore up support from his western partners in the run-up to Ukraine’s summer offensive that year. His tour was a relative success – the subsequent offensive less so.

    Fast forward 18 months, and Zelensky has once again been visiting London, Paris, Rome and Berlin in search for western support. This time, he sought backing for his victory plan. But the odds now are clearly stacked against Ukraine on the battlefield. And Zelensky also faces an uphill struggle on the diplomatic front.

    The initial plan for Zelensky and his allies had been to convene at a meeting of the Ramstein group. This is the loose configuration of some 50 countries who have supported Ukraine’s defence efforts since the start of the full-scale Russian aggression in February 2022.

    With the US president, Joe Biden, scheduled to attend after a state visit to Germany, the gathering at Ramstein Air Base in Germany had been pitched at the level of heads of state and government. It was expected that there were to be some big announcements of continuing support for Ukraine.


    The world is watching the US election campaign unfolding. Sign up to join us at a special Conversation event on October 17. Expert panellists will discuss with the audience the upcoming election and its possible fallout.


    But with hurricane Milton scheduled to hit Florida, Biden was forced to cancel his trip. While Biden’s visit to Germany has apparently been rescheduled for October 18, 2024, the Ramstein meeting remains postponed.

    This has deprived the Ukrainian president of the chance to pitch his victory plan to his more important allies. So he has been unable to get them to commit to the support that will be necessary to implement it.

    We don’t yet know much about the Ukrainian victory plan. From what has been released or leaked, it appears to boil down to five key demands.

    Zelensky wants an accelerated path to Nato membership. He is also asking for a Nato-enforced no-fly zone over western Ukraine and more air-defence systems for the country to better protect its own skies.

    Other key elements of the plan involve permission to use western-supplied long-range missiles against targets deep inside Russia, the delivery of long-range German Taurus ballistic missiles and significant investment into Ukraine’s defence industry.

    Most of these demands are non-starters in western capitals. That much was already made clear during Zelensky’s recent trip to New York and Washington in mid-September.

    The Ukrainian president managed to get his US counterpart to authorise US$8 billion (£6.12 billion) in further security assistance. But there has been no progress on lifting the restrictions that the US and other allies are placing on Ukraine’s use of western military aid against Russian territory.

    The western alliance remains divided on this. And the US is particularly sceptical of its strategic value.

    Similarly, the prospect of Ukraine joining Nato continues to be remote – not least as it would require the consent of all 32 current member states. The Slovak prime minister, Robert Fico, has openly stated that he will veto Ukraine’s accession to the alliance. His Hungarian counterpart, Victor Orban, is also well known for his opposition to Kyiv joining the alliance.

    More damaging to Ukraine’s Nato aspirations, however, is a similar reluctance in both Washington and Berlin. This has been key in ensuring that the two most recent Nato summits in Vilnius in 2023 and Washington in 2024 only re-affirmed that “Ukraine’s future is in Nato” but failed to attach a clear timeline to it.

    Kyiv’s allies need to double down – now

    At the end of his meeting with the German chancellor, Olaf Scholz, on October 11, Zelensky secured another €1.4 billion (£1.17 billion) worth of air defences, tanks, drones and artillery, to be jointly delivered by Germany, Belgium, Denmark and Norway.

    But Taurus ballistic missiles – top of Kyiv’s shopping list – are not included in this package. While predictable, this was a major disappointment for Zelensky. As was the fact that he essentially walked away empty-handed from his meetings in London, Paris and Rome.

    There is no indication that any of these major allies are likely to withdraw their support. But it is equally clear that they are not prepared to increase it decisively.

    This was also evident during the visit to Kyiv of the new Nato secretary-general, Mark Rutte, on October 3. Rutte travelled to Ukraine within days of assuming the role to reiterate the continuation of the alliance’s support. But as symbolically important as this was, he merely confirmed what had already been agreed rather than announcing anything new.

    The EU did marginally better. On October 10 it was announced the bloc was set to extend the training programme for Ukrainian troops until the end of 2026. The mission was launched in November 2022 and has trained some 60,000 troops to date. That’s about half of all Ukrainian soldiers trained abroad – and three times the number who received training from the US.

    The EU’s overall aid to Ukraine now stands at €162 billion since the beginning of the war in 2022, compared to €84 billion from the US. Two-thirds of US aid is military in nature, and with almost €57 billion to date, it dwarfs the contributions by Germany and the UK, the two next-largest donors with around €10 billion each.

    These are impressive numbers and there can be no doubt that Ukraine would have lost this war long ago without support from its western allies. Yet, the fact is that what Ukraine’s western partners currently provide is barely enough to prevent a Ukrainian defeat, let alone enable Ukraine to implement its victory plan.

    Vladimir Putin has consistently raised his country’s war effort to meet any challenges presented over the course of the conflict. Unless the west doubles down on its support to allow Kyiv to do the same, not only will Ukraine not win this war, it is in serious danger of losing it.

    The high-level meeting planned for Ramstein would have been the opportunity for the west to change gear decisively. Ukraine can only hope that its postponement, rather than outright cancellation, means its allies may yet step up to the plate.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

    ref. Ukraine faces worsening odds on the battlefield and a struggle on the diplomatic front after Biden postpones summit – https://theconversation.com/ukraine-faces-worsening-odds-on-the-battlefield-and-a-struggle-on-the-diplomatic-front-after-biden-postpones-summit-240805

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Statement by Foreign Ministers of France, Germany, Italy & the UK

    Source: United Kingdom – Executive Government & Departments

    Statement by the Foreign Ministers of France, Germany, Italy and the United Kingdom on attacks against UNIFIL bases.

    We, the Foreign Ministers of France, Germany, Italy and the United Kingdom express our deep concern in the wake of recent attacks by IDF on UNIFIL bases, which have left several peacekeepers injured. These attacks must stop immediately. We condemn all threats to UNIFIL’s security.

    Any deliberate attack against UNIFIL goes against international humanitarian law and United Nations Security Council Resolution 1701. The protection of peacekeepers is incumbent upon all parties to a conflict.

    We call on Israel and all parties to uphold their obligations to ensure the safety and security of UNIFIL personnel at all times and to allow UNIFIL to continue carrying out its mandate. We reaffirm the essential stabilizing role played by UNIFIL in southern Lebanon. We underscore the importance of the United Nations in resolving armed conflict and mitigating the humanitarian impact.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

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

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom

  • MIL-Evening Report: Two decades after decriminalisation, NZ’s sex workers still need protection from discrimination

    Source: The Conversation (Au and NZ) – By Lynzi Armstrong, Senior Lecturer in Criminology, Te Herenga Waka — Victoria University of Wellington

    It has been two decades since New Zealand decriminalised sex work. And while sex workers have workplace rights, they still worry about the risks of discrimination in everyday life.

    In my recent research, local sex workers explained the benefits of decriminalisation – and what still needs to change. Their experiences highlight that while much has changed for the better, stigma remains an issue. Further change is needed to better protect sex workers from it.

    New Zealand’s experience is relevant right now, as a number of governments elsewhere are reviewing their laws around sex work.

    Scotland, for example, is considering a proposal that would criminalise the purchase of sex – known as the Nordic model due to its initial adoption in some Nordic countries.

    Supporters argue this will help sex workers and extend gender equality. But evidence suggests the Nordic model actually harms sex workers: it impedes safety strategies, increases the risk of violence, limits access to justice, and enables discrimination.

    What is decriminalisation?

    The other options are decriminalisation and legalisation. While these terms are often used interchangeably, they are different. Legalisation of sex work (in Germany and the Netherlands, for example) means legalising an act that was previously against the law.

    For sex workers, this means restrictive government regulation and control, which may include mandatory registration with authorities, compulsory sexual health checks, and permission to work in specific areas only.

    Decriminalisation, on the other hand, means repealing laws that make an act or behaviour a crime, but not necessarily introducing restrictive regulations specific to the sex industry.

    That said, decriminalisation does not mean there is no regulation. Instead, regulations are comparable to other businesses. The focus is not on regulating sex workers, but providing them with rights.

    Under New Zealand’s Prostitution Reform Act (2003) it is an offence to induce or compel a person to do sex work. Sex workers have the right to refuse to see clients for any reason at any time. If a sex worker wishes to stop doing sex work, they can access unemployment benefits immediately (rather than having the normal stand down period ).

    Impacts of decriminalisation in New Zealand

    Research three years after the law came into force found a majority of participants felt they had more rights and were more able to refuse to see clients than before. Several participants felt police attitudes towards them had improved.

    Subsequent research found relationships between street-based sex workers and police had improved. Decriminalisation supported the safety strategies of these sex workers better.

    There have also been several high-profile cases where sex workers have exercised their legal rights. Brothel-based sex workers won sexual harassment cases against business owners, and convictions of rape against two clients who covertly removed condoms during their bookings.

    Among the 26 sex workers we interviewed in New Zealand, participants described feeling fortunate to work in the decriminalised context. They also felt working conditions for sex workers were better than in other countries.

    One participant said:

    I also feel that we shouldn’t have to say “oh we’re so lucky” but we are compared to other people in other countries.

    Another felt decriminalisation gave sex workers a “protective layer”.

    This meant, as one participant put it, “we have rights, full stop”.

    Participants appreciated sex work being defined as work and the rights that accompany this. Decriminalisation was considered both ideal and normalised. As another explained,

    it’s been decriminalised for a long time now, like it’s part of our reality.

    Room for improvement?

    While participants felt grateful to work in the decriminalised context, this doesn’t mean there weren’t issues.

    Decriminalisation in New Zealand doesn’t include legal protection from discrimination. Sex workers have little recourse if they are treated unfairly because of their job.

    The sex workers we spoke with believed the social stigma of sex work was gradually fading, and instances of discrimination described by participants were rare. But they still feared the consequences of discrimination (such as being denied accommodation or premises to work from if their work became known to a landlord).

    They supported further legal protection from discrimination. For one participant this meant,

    I could tell people my job without […] any fear of backlash, and that would be fantastic.

    Participants also wanted the protections of decriminalisation extended to temporary migrants. People who hold temporary visas face deportation if they are found to be working in the sex industry, making them vulnerable to exploitation.

    Falling behind

    After two decades of decriminalisation, New Zealand risks falling behind as more jurisdictions (such as Victoria and Queensland in Australia) adopt decriminalised frameworks that build in protection from discrimination.

    Such protections mean it is no longer legal to deny a person accommodation or a job based on their sex work experience, or deny them a bank loan or mortgage.

    To keep up, New Zealand needs to follow suit. The next step is therefore to strengthen and expand the rights sex workers have.

    Perhaps then, in another 20 years, the country will still be seen as one that put the human rights of sex workers first and showed the rest of the world what equality really looks like.

    Lynzi Armstrong received funding from the Royal Society of New Zealand Marsden Fund (2019-2024)

    ref. Two decades after decriminalisation, NZ’s sex workers still need protection from discrimination – https://theconversation.com/two-decades-after-decriminalisation-nzs-sex-workers-still-need-protection-from-discrimination-240787

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Europe: Rwanda: EIB Global Backs Akagera Vaccine Development

    Source: European Investment Bank

    EIB

    • €2 million support unlocks early-stage development of vaccine manufacturing.
    • Investment to accelerate development of vaccines against tuberculosis, HIV, Ebola and other diseases

    Early-stage vaccine development in Rwanda by Akagera Medicines Africa Limited will be supported by €2 million financing from the European Investment Bank (EIB Global). The new backing will accelerate research and development as well as manufacturing of new vaccines to treat infectious diseases including tuberculosis, HIV, Lassa fever, and Ebola.

    The new financing will also be used to strengthen technical skills and expertise of Rwanda based teams to support home-grown discovery, manufacturing, and development of vaccine delivery systems within Rwanda.

    The latest health financing from the EIB Global is part of the wider EU Global Gateway initiative for Africa and is designed to unlock crucial investment to improve access to public healthcare. EIB Global supports high impact investment to enhance healthcare and pharmaceutical manufacturing across Africa, strengthen health resilience on the continent, and support equitable access to healthcare in Africa.

    Africa bears the highest disease burden globally and more home-grown or continent based solutions need to be supported. Vaccination is a critical activity to ensure and guide investments in universal health and has a crucial role to play in achieving 14 of the 17 United Nations Sustainable Development Goals.

    Akagera Medicines, Africa was established in Rwanda in July 2022 to develop the pharmaceutical sector in Rwanda and elsewhere in Africa. The company is majority-owned by the Republic of Rwanda through the Rwanda Social Security Board (RSSB).

    Speaking at the World Health Summit in Berlin, Germany, where the financing announcement was made, Michael Fairbanks, Chief Executive Officer of Akagera Medicines said: “We are a public private partnership and enjoy the support of Coalition for Epidemic Preparedness Innovations (CEPI) in Norway, the Gates Foundation, and the National Institute of Health in Washington. With the significant support of the European Investment Bank, we are now a clinical company and moving faster to build human capacity and specialized infrastructure in Africa to support vaccine development. “

    RSSB CEO, Regis Rugemanshuro said: “European Investment Bank’s financial support to Akagera Medicines represents an important contribution to the realization of Rwanda’s vision to become a biotech hub, and to the vision of Africa becoming self-reliant in vaccine and medicine manufacturing. RSSB is looking forward to deepening partnerships with EIB and other international institutions to build resilient healthcare ecosystems in Rwanda and in Africa.”

    EIB Vice President, Thomas Ostros said: “The partnership with Akagera demonstrates the European Investment Bank’s close cooperation with public and private partners to accelerate development of innovative solutions for combating deadly diseases and scaling up healthcare financing and delivery. The EIB is committed to further strengthening our partnership with local and international players, to scale up investment and support innovative technology together.”

    EU Ambassador to Rwanda Belen Calvo Uyarra, said: “Through Global Gateway, the EU is focused on advancing equitable access to health products and local manufacturing in Africa. This investment by EIB with Akagera Medicines marks another important milestone on this journey.”

    The financing to Akagera complements other EU initiatives in Rwanda and the region under the Global Gateway Flagship – Manufacturing and Access to Vaccines, Medicines and Health Technologies (MAV+), which focus mainly on supporting the necessary ecosystem for vaccine manufacturing.

    This is supported by the EU-Africa Infrastructure Trust Fund (EU-AITF), established to increase investment in infrastructure in Sub-Saharan Africa dedicated to projects in Africa with the aim of reducing poverty and fostering economic growth in the region.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner in Global Gateway. We aim to support €100 billion of investment by the end of 2027, around one third of the overall target of this EU initiative. With Team Europe, EIB Global fosters strong, focused partnerships, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world.

    About Akagera:

    Akagera Medicines develops novel liposomal formulations of drugs to treat tuberculosis, RSV, influenza, avian flu, and HIV. The clinical stage company was founded in 2018 in Kigali, Rwanda. It is well-funded, majority-owned by the people of Rwanda through the Rwanda Social Security Board (RSSB), registered as a Delaware corporation, and has laboratories in Boston and San Francisco. Akagera registered a 100%-owned subsidiary in Kigali in 2022 to do manufacturing and clinical trials. Founding board members include Ambassador Dr. Albrecht Conze, Dr. Paul Farmer, and Dr. Donald Kaberuka. Dr. Daryl Drummond and Dr. Dimitri Kirpotin are cofounders who translate their successful delivery system from oncology to infectious diseases.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Contempt for the Prespa Agreement shown towards 12 EU ambassadors and four representatives of European bodies – E-001967/2024

    Source: European Parliament

    Question for written answer  E-001967/2024
    to the Council
    Rule 144
    Nikolaos Anadiotis (NI)

    From the date when she was sworn in on 12 May 2024 until the present, President Gordana Siljanovska, as ‘President of Macedonia’, has been engaged in violating the Prespa Agreement. From the very first of her meetings in the city of Skopje with ambassadors of Member States (Czechia, Bulgaria, Slovenia, Poland, Hungary, Netherlands, Italy, Belgium, Slovakia, Germany, Croatia and Sweden) and representatives of European bodies [the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the OSCΕ and the European External Action Service (EEAS)], among others, she issued official communications that referred to the country as ‘Macedonia’.

    Five hundred incidents of this kind have been recorded; they are not merely violations, but constitute systematic ‘material breaches’, according to the international terminology[1]. It should be borne in mind that, pursuant to the 1969 Vienna Convention on the Law of Treaties, for a bilateral treaty, when one party is in ‘material breach’ of the treaty the other party is entitled to request the suspension and termination of that treaty (Article 60(1)).

    In view of the above:

    • 1.Is the Council aware of the contempt for the Prespa Agreement, the Member States and the European institutions shown by President Siljanovska, who is a head of state, and what is more, of a country that is a candidate for accession?
    • 2.How does it intend to formally express its displeasure?

    Submitted: 4.10.2024

    • [1] https://www.epitropiellinismou.gr/post/3080
    Last updated: 14 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Contempt for the Prespa Agreement shown towards 12 EU ambassadors and four representatives of European bodies – E-001966/2024

    Source: European Parliament

    Question for written answer  E-001966/2024
    to the Commission
    Rule 144
    Nikolaos Anadiotis (NI)

    From the date when she was sworn in on 12 May 2024 until the present, President Gordana Siljanovska, as ‘President of Macedonia’, has been engaged in violating the Prespa Agreement. From the very first of her meetings in the city of Skopje with ambassadors of Member States (Czechia, Bulgaria, Slovenia, Poland, Hungary, Netherlands, Italy, Belgium, Slovakia, Germany, Croatia and Sweden) and representatives of European bodies [the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the OSCΕ and the European External Action Service (EEAS)], among others, she issued official communications that referred to the country as ‘Macedonia’.

    Five hundred incidents of this kind have been recorded; they are not merely violations, but constitute systematic ‘material breaches’, according to the international terminology[1]. It should be borne in mind that, pursuant to the 1969 Vienna Convention on the Law of Treaties, for a bilateral treaty, when one party is in ‘material breach’ of the treaty the other party is entitled to request the suspension and termination of that treaty (Article 60(1)).

    In view of this:

    • 1.Is the Commission aware of the contempt shown by President Siljanovska for the Prespa Agreement, the Member States and the European institutions, despite the fact that she is a head of state, and what is more, of a country that is a candidate for accession?
    • 2.How does it intend to formally express its displeasure?

    Submitted: 4.10.2024

    • [1] https://www.epitropiellinismou.gr/post/3080
    Last updated: 14 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Persistent supply shortages of critical medicinal products in the EU, in particular isotonic saline solution – P-002037/2024

    Source: European Parliament

    12.10.2024

    Priority question for written answer  P-002037/2024
    to the Commission
    Rule 144
    Friedrich Pürner (NI)

    For years, the EU Member States have faced shortages of important medicines, including antibiotics, insulin, painkillers and syrups lowering fever. In Germany, supply shortages are now even affecting isotonic saline solutions, which are needed for infusions, rinses and surgery, among other things.

    The shortage of medicines is a persistent public health problem.

    In light of this, the Commission adopted a set of actions in 2023 to address the shortage of medicines and strengthen security of supply in the EU, which included a reform of pharmaceutical legislation.

    • 1.Is the Commission aware of this situation in Germany and are other EU Member States also facing a shortage of isotonic saline solution? If so, which, and how big is the deficit in each country and in the EU as a whole?
    • 2.What is the impact of these supply shortages on patients and users and how are prices affected?
    • 3.What precautionary measures and early warning systems does the European Commission, in cooperation with the Member States, have in place in order to prevent shortages or minimise deficits as far as possible?

    Submitted: 12.10.2024

    Last updated: 14 October 2024

    MIL OSI Europe News

  • MIL-OSI: Intermex to Release Third Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Oct. 14, 2024 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI), also known as Intermex, will release its Third Quarter 2024 earnings before the start of trading on Friday, November 8, 2024. The Intermex management team will be hosting a conference call on the same day at 9:00 am ET.

    Interested parties are invited to join the conference and gain firsthand knowledge about Intermex’s financial performance and operational achievements through the following channels:

    • A live broadcast of the conference call may be accessed via the Investor Relations section of Intermex’s website at https://investors.intermexonline.com/.
    • To participate in the live conference call via telephone, please register HERE. Upon registering, a dial-in number and unique PIN will be provided to join the conference call.
    • Following the conference call, an archived webcast of the call will be available for one year on Intermex’s website at https://investors.intermexonline.com/.

    About International Money Express, Inc.        
    Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to more than 60 countries. The Company provides the digital movement of money through a network of agent retailers in the United States, Canada, Spain, Italy, the United Kingdom and Germany; Company-operated stores; our mobile app; and the Company’s websites. Transactions are fulfilled and paid through thousands of retail and bank locations around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit http://www.intermexonline.com.

    Investor Relations:
    Alex Sadowski
    Investor Relations Coordinator
    Tel: 305-671-8000
    IR@intermexusa.com

    The MIL Network

  • MIL-OSI Submissions: Asia Pacific – Attraction of the ASEAN Economic Sphere: Japanese Companies Transferring Production from China to Southeast Asia – The Shared Future of Asia and Japan

    Source: Japan Connect

    An increasing number of Japanese companies operating in China are transferring their production bases to countries in the Association of Southeast Asian Nations (ASEAN). This comes as Chinese economic growth slows and concerns rise over the risks of doing business in China, where foreign residents have been arrested on vague grounds.

    Chinese real estate slump: Apartment buildings in Guizhou, China. (c) Jiji Press.
    The Chinese economy is stagnating, and this can clearly be seen in production, consumption and investments. The country’s gross domestic product (GDP) for the second quarter (April-June) of 2024 grew 4.7% year over year, which was 0.6 points lower than the first quarter (January-March). Economic data from August shows that retail business sales, an indicator of consumption trends, grew only 2.1% year over year.

    The slump in the real estate industry is a major factor behind this. The real estate market and related industries make up a fourth of China’s GDP, but investments in real estate development fell 10.2% year over year in the period between January and August 2024. During the COVID-19 pandemic, China implemented a “Zero-COVID Strategy,” which kept citizens indoors, dealt a major blow to the tourism and restaurant industries, and led to investments being concentrated in real estate. Home prices rose exponentially. In response, the Chinese government placed heavy restrictions on risky deals. This caused home prices to drop drastically, and the businesses of many major real estate developers fell into a decline. Down payments were made but buildings never got built, and as similar cases followed one after another, the consumption trend cooled among the population.

    Furthermore, the Chinese government, which places utmost importance on national security, established the Counter Espionage Law in 2014. This has resulted in many foreigners, including Japanese, being arrested for “espionage acts,” which are only vaguely defined. Starting in July 2024, new regulations have been implemented that allow authorities to inspect the contents of electronic devices of individuals and organizations for acts of espionage, raising further concerns that even regular economic activities could be scrutinized. With little hope for significant growth in the Chinese market, coupled with the risks of doing business in China, direct international investments into the country fell 29.1% year over year between January and June 2024. There are also other issues, such as the risk of high tariffs on products produced in China and exported to the USA due to the ongoing tension between the two countries, as well as rising labor costs in China.

    Against this backdrop, Japanese companies are turning their eyes to Southeast Asia for new bases of production. In January 2023, Sony transferred the manufacturing of its cameras for Japan, Europe and the USA from China to Thailand. Its factories in China now only make products to be sold domestically, allowing it to reduce dependency on the country. Kyocera also plans to transfer a part of its electric tools production in China to Vietnam in fiscal 2024. The Vietnam site will mainly manufacture products to be sold in the USA in order to avoid the tariffs placed on exports from China. According to Teikoku Databank, the number of Japanese companies operating in China decreased from 14,394 in 2012 to 13,034 in 2023. Many companies are choosing to relocate back to Japan or to Southeast Asia. This can be seen in how Southeast Asian countries now occupy three of the top five locations in terms of the number of Japanese companies’ overseas subsidiaries: No. 1 is China, followed by USA, Thailand, Singapore, and Vietnam.

    Southeast Asia is attractive in many ways for Japanese companies. Not only is it geographically close to Japan but it also offers a rich pool of human resources with technical prowess and fluency in many languages including English, which allows companies to secure a stable labor force. Many ASEAN countries also have highly transparent fiscal policies and stable currency exchange rates. Cities have established solid infrastructure such as electrical power and transportation networks, making it easier for companies to build factories there and secure supply chains, from production and distribution to sales.

    The Southeast Asian market is very appealing. The 10 ASEAN countries have a combined population of around 670 million people. It tops the population of the European Union (EU), which is around 450 million people, and is the third largest in the world after India and China. The median age is also young, and unlike many developed nations, the region has not yet been faced with the issue of an aging society with a low birthrate. The 2023 nominal GDP of the 10 ASEAN countries combined rose to around 3.81 trillion US dollars, which ranks right after the USA, China, Germany and Japan. It is forecast to overtake Japan’s GDP by 2030. Due to the effects of an aging population and low birthrate, there are concerns that Japan’s market and labor force will shrink going forward. Japanese companies will benefit greatly from operating and expanding their businesses in Southeast Asia, which has a large market, offers rich human resources and is referred to as “the world’s growth center.”

    Japan and ASEAN countries have established various cooperative partnerships in politics, foreign policy and the economy. Japan is an active participant in numerous ASEAN foreign policy and security frameworks, including the East Asia Summit (EAS), which started in Malaysia in 2005, ASEAN Regional Forum (ARF), which discusses political and security issues, and ASEAN Defence Ministers’ Meeting Plus (ADMM-Plus), the only formal meeting of defense ministers in the Asia-Pacific region. In 2020, the Regional Comprehensive Economic Partnership (RCEP) was officially signed, including Japan, China, South Korea, Australia and New Zealand in addition to ASEAN. Building an open economic sphere by providing market access and establishing economic rules is accelerating active free trade, including small and medium-sized businesses.

    While Southeast Asia is attractive to Japan, Japan must also be attractive to Southeast Asia. Southeast Asian company managers often say that decisionmaking is slow in Japanese businesses. They say this is due to a uniquely Japanese custom where multiple meetings are needed to make a single decision, and everyone has to then wait for it to be approved by the head office in Japan. Furthermore, Southeast Asians who grew up loving Japanese brands and anime are already in their 40s and 50s, while the attention of the younger generation, which is driving consumption, has been turning to South Korean and Chinese cultures as well. As such, greater efforts must be made to ensure that Southeast Asia will choose Japan as a partner.

    Last year, Japan and ASEAN celebrated their 50th anniversary of cooperative partnerships. The relationship, in fact, began as one of animosity. Japan drew the ire of Southeast Asia by exporting massive quantities of cheap synthetic rubber to ASEAN, a producer of natural rubber, and that led to holding the ASEAN-Japan forum on synthetic rubber in 1973. Friendly relations were established as Japan promised to take care not to interfere with ASEAN’s natural rubber industry. It was a perfect example of the proverb “After rain comes fair weather.” One could call 2024 the first year of the next half-century of new cooperative partnerships. Going forward, Japan’s efforts will determine how strong this partnership with ASEAN will become.

    By Akio Yaita – Journalist. Graduated from the Faculty of Letters at Keio University. After completing his doctorate at the Chinese Academy of Social Sciences, he worked as a correspondent for the Sankei Shimbun in Beijing and as Taipei bureau chief. Author or co-author of many books.

    MIL OSI – Submitted News

  • MIL-OSI Security: History Today, June 6: The role of signals intelligence or ‘ULTRA’ on D-Day

    Source: National Security Agency NSA

    The term D-Day was a shorthand expression first used in World War I to denote the date an operation was to be launched. In the earlier war, officers also used H-HOUR and M-MINUTE, but these were seldom used in World War II. Because of the scope of the 1944 operation and the momentous stakes, in common parlance, “D-Day” has come to refer primarily to the landings in Normandy.

    The Germans had occupied France since 1940. When the Americans entered the war in December 1941, U.S. strategic thinking called for an immediate landing in France in conjunction with our British allies, followed by an advance to liberate the country and then press on to Berlin. Britain’s high command argued against this course of action, pointing out, correctly, that the Germans were well dug in, American forces lacked experience in combat against the powerful foe, and neither country had yet assembled the reserve of men and materiel such an effort required.

    As a consequence, the Allies battled the Germans in North Africa, Sicily, and Italy – but by spring 1944, the time had come to land in France and carry the battle to the German homeland. Hundreds of thousands of American, British, and Canadian men readied to land on five beaches in Normandy, France, to face well-prepared German defensive positions.

    The planning for this operation, codenamed OVERLORD, was complex, but the strategic planning staff had an important asset — SIGINT. This was ULTRA, the product of cryptanalysis of high-grade enemy cryptosystems such as the now-famous ENIGMA machine. Crucial information also was derived from decrypts of reports written by the Japanese ambassador to Germany, who had toured the beachfronts of France in the autumn of 1943.
    Those who study intelligence know that ULTRA gave planners access to copious amounts of information about the German weaponry emplaced along the beaches, the order of battle of the defensive units, and the standing orders given to the defenders.

    Less well known but no less important was the information on German defensive mines in the English Channel. This was a vital factor, since Britain and the United States were transporting their combat units across the channel in hundreds of ships.

    ULTRA provided a great deal of data on German mine laying. Some of it came from communications of the boats actually creating the minefield, some of it came from instructions to German ships about cleared areas for their sailing. The information included types of mines used, as well as boundaries for closed and open channels.

    This information allowed the Allies to select mine-free routes for the ships carrying the landing parties and identify areas where minesweeping actions would be a priority.

    The official historian of British COMINT in World War II wrote, “Largely with the assistance of SIGINT, though not without much tedious analysis of it . . ., the programme was reconstructed in considerable detail — a fact which proved to be of considerable importance for the success of the landings.”

    In addition to ULTRA, U.S. ground forces had tactical COMINT personnel who accompanied deployed troops and provided intelligence from low-level German or Japanese communications.

    The U.S. Navy also had tactical COMINT teams aboard ships in the Mediterranean and European Theaters of War, called the Y Service, a term borrowed from British usage. One of the primary missions of these teams was to provide warning of enemy air attacks and to jam German radio-controlled bombs.

    Initially, the U.S. Navy had to borrow intercept operators from the U.S. Army or the Royal Navy. In early 1944, the commander of U.S. naval forces in Northwest African waters asked the Chief of Naval Operations to send twenty-four men for training in Y Service operations. He noted that the candidates should be of good intelligence, without family ties in Axis countries, wholly trustworthy, and be thoroughly fluent in idiomatic German; if any had a knowledge of German shorthand, that would be especially desirable.

    In March two officers and ten enlisted men were dispatched from the U.S. to Europe for Y Service training, which was to be provided by the British admiralty.

    As Allied forces prepared for Operation NEPTUNE, the naval phase of the Normandy landings, seven naval Y teams were deployed. Three of the teams had only British personnel; the other teams had mixed U.S. and UK personnel. It was felt that training alone was insufficient for success; the U.S. had to overcome lack of experience by integration of personnel with its ally.

    During the D-Day landings and afterward, the Y teams undertook twenty-four-hour coverage. This began on June 5 and continued through June 18. As one later report put it, “. . . [I]n the case of the Normandy Operation, Y service proved to be of little assistance because of the general lack of enemy aircraft and naval surface craft in the face of overwhelming Allied surface and air power.”

    The Y Service teams were disbanded in January 1945. By this time, the German naval and air forces were no longer a threat to U.S. and British movement of troops and support for them from the British Isles to France.

    Today is the 80th anniversary of D-Day, still the largest amphibious attack conducted in the face of an armed enemy. The sacrifice in life by British, Canadian, and American troops was heavy on this day in 1944, but the successful landings truly marked the beginning of the end for Adolph Hitler and Nazism.

    MIL Security OSI

  • MIL-OSI: Policyholder expectations pose challenges for life insurers at every stage of the customer journey

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Fahd Pasha
    Tel.: + 1 647 860 3777
    E-mail: Fahd.Pasha@capgemini.com

    Policyholder expectations pose challenges for life insurers at every stage of the customer journey

    • Best-in-class life insurers – those delivering quantifiably outstanding customer experience – achieve a 38% higher Net Promoter Score (NPS®) than their mainstream counterparts
    • 67% of best-in-class carriers are ready to leverage generative AI to innovate their policyholders’ experience and optimize operations
    • Life insurance industry must shift perception away from simply ‘death insurance’ to engage new generation of policyholders

    Paris, October 15, 2024 – The Capgemini Research Institute’s World Life Insurance Report 2025, published today, reveals that the life insurance industry is struggling to meet today’s customer experience expectations, with legacy technology being a major barrier to driving meaningful change. However, the report identifies a small group of life insurers globally delivering quantifiably outstanding customer experience to achieve ‘best-in-class’ status. In comparison to mainstream insurers, these innovative companies have been rewarded with a 38% higher Net Promoter Score (NPS®), an 11% lower expense ratio, and a 6% higher revenue growth than the rest of the industry in the last three years.

    Faced with high inflation, economic uncertainty, and waning interest, life insurers are at a critical juncture as the industry confronts a 33% fall in penetration in mature markets1 between 2007 and 20232, with one-in-two policyholders saying their experience is underwhelming. Much of this dissatisfaction permeates through the entire customer journey, particularly across product offerings, onboarding, servicing and claims/surrenders.

    Insurers face challenges at every stage of the customer journey
    At the onboarding stage, one-in-three (35%) retail policyholders struggle with complex terms and 27% don’t like the lengthy application process. After purchasing a policy, one-in-four (25%) retail and group customers express frustration due to long wait times, while 23% are frustrated by the inability to access self-service options for policy changes. The claims process also poses challenges, primarily due to a lack of digitization: one-third (35%) of retail policyholders say they face a complicated claim application process, with 27% noting a lack of empathy during the claims experience.

    The research shows that younger policyholders (between 18-40 years) are more frustrated by a challenging experience than older customers (between 41-60 years) throughout their insurance journey. This includes slow and complex onboarding processes, lack of dedicated communication channels, and an inability to self-service policies. They also demand greater claims flexibility, with 42% citing inflexible payouts as a critical concern, versus only 26% of older customers.

    Despite a desire to redesign the onboarding, service and claims experience, only 9% of carriers have established ecosystem-wide processes that capture data from multiple sources to create a unique view of customers, and in turn, deliver personalized experiences through policyholders’ preferred channels.

    “Life insurance is shifting from a must-have to a maybe proposition. Carriers must shake off the perception that life insurance is just ‘death insurance’. They can achieve this by focusing on engaging the next generation of policyholders, moving beyond a product-driven approach to put the customer at the center of their strategies,” said Samantha Chow, Global Leader for Life Insurance, Annuities and Benefits Sector at Capgemini. “Many insurers are struggling with legacy technology or investments that have failed to deliver the target returns. The path forward is a customer-centric transformation that draws inspiration from the best-in-class by embedding AI-augmented, human-touch service into core processes.”

    Efforts to improve customer experience have stalled for most carriers
    Insurers recognize an urgent need to modernize their operations, however, only 41% met or exceeded their latest transformation goals. Past transformation initiatives fell short of delivering the intended results as insurers prioritized multiple goals which hindered their efforts. The challenges were further complicated by unexpected integration complexities (50%), lack of alignment with business objectives (42%) and insufficient skilled resources (42%).

    Despite these headwinds, the report finds an elite group of 5% of best-in-class insurers who are delivering a superior customer experience. These best-in-class carriers lean into the latest technologies, like generative AI, to offer exceptional onboarding, self-service, and claims capabilities.

    The best-in-class stand out against their counterparts:

    • 78% of best-in-class insurers have automated underwriting compared to 15% of mainstream insurers to optimize onboarding efforts
    • 78% offer policyholders self-service portals compared to only 13% of mainstream carriers
    • 56% provide a seamless and intelligent claims experience through AI assistance for voice and sentiment analysis versus only 3% of mainstream insurers

    Generative AI can be a catalyst, although talent gaps remain a hurdle
    While the transformative potential of generative AI is undeniable for the life insurance industry, it brings to light a pressing talent challenge. Today, 67% of best-in-class insurers are technically ready to leverage and maximize generative AI’s capabilities across their operations, with readiness levels dropping to 25% for mainstream insurers. Generative AI, when augmented with human intelligence, can revolutionize the consumer experience, while simultaneously driving operational efficiencies. However, one-in-three executives (34%) highlight identifying talent as a significant obstacle hindering their ability, with critical gaps in roles such as behavioral scientists, experience designers, and AI prompt engineers.

    According to the report, success will hinge not only on the implementation of the technology, but also on insurers’ ability to attract, develop, and retain the right talent. Carriers who can effectively blend cutting-edge technology with skilled professionals will be well-positioned to lead the industry into a new era of innovation and customer-centricity.

    Report Methodology
    The World Life Insurance Report 2025 draws data from two primary sources: the Global Voice of the Customer Survey, administered during May and June 2024, and the Global Insurance Executive Survey, conducted during May and June 2024. This primary research covers insights from 20 markets: Australia, Belgium, Brazil, Canada, Finland, France, Germany, Hong Kong, India, Italy, Japan, Mexico, the Netherlands, Norway, Portugal, Singapore, Spain, Sweden, the United Kingdom, and the United States. First, our comprehensive Voice of the Customer Survey, administered in collaboration with Phronesis Partners, polled 6,186 life insurance customers in 18 countries. These markets represent all three regions of the globe – the Americas (The United States, Mexico, Canada, and Brazil), Europe (Belgium, France, Germany, Italy, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom), and Asia-Pacific (Australia, Hong Kong, India, Japan, and Singapore). Second, the report also includes insights from interviews with 213 leading life insurance company executives across 16 markets. These markets together represent all three regions of the globe – the Americas (The United States, Canada, and Brazil), Europe (Belgium, Finland, France, Germany, Italy, the Netherlands, Norway, Spain, and the United Kingdom) and Asia-Pacific (Australia, Hong Kong, India, and Singapore).

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

    Get The Future You Want | http://www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital and their impact across industries. It is the publisher of Capgemini’s flagship World Report Series, which has been running for over 28 years, with dedicated thought leadership on Financial Services focussing on digitalization, innovation, technology and business trends that affect banks, wealth management firms, and insurers across the globe.

    To find out more or to subscribe to receive reports as they launch, visit https://worldreports.capgemini.com


    1 Note: Mature markets: North America includes Canada and the United States. Western Europe includes Portugal, Luxembourg, Italy, Netherlands, Germany, Belgium, Austria, France, Greece, Malta, Finland, Spain, Switzerland, Denmark, Sweden, Norway, and Cyprus. APAC includes Australia, New Zealand, Japan, Hong Kong, Singapore, South Korea, and Taiwan.
    2Swiss Re – sigma explorer

    Attachment

    The MIL Network

  • MIL-OSI New Zealand: “Advancing New Zealand and Asia relations”

    Source: New Zealand Government

    Good evening

    Before discussing the ‘advancing of New Zealand and Asia relations’, we would like to congratulate the Asia New Zealand Foundation and acknowledge its significant contribution to New Zealand’s relationship with, and understanding of, Asia over the past 30 years.

    Can we also welcome Thitinan Pongsudhirak, one of the Foundation’s Honorary Advisers, and Michael Fullilove, Executive Director of the Lowy Institute.  

    I would also like to acknowledge Members of Parliament; members of the diplomatic corps; Asia New Zealand Foundation founders Sir Don McKinnon and Philip Burdon; and its Chair, Dame Fran Wilde.

    A lot has happened over the past 30 years – in New Zealand, in Asia, and indeed in New Zealand’s engagement with Asia.

    30 years ago

    It is, of course, difficult to talk about Asia in general terms. The region has 23 countries, hundreds of languages and a vast swathe of peoples and cultures and political systems. 

    This is to say nothing of the vast distances in Asia.  Indeed, it’s closer from London to Moscow than Auckland to Jakarta, and yet we tend to think Indonesia as our back yard. 

    We tend to zone in on one country, or one issue.

    Our understanding needs to be more nuanced than this – something the Asia New Zealand Foundation knows well and is in fact its core mission.

    We can, however, look at some trends, as we think about New Zealand’s relationship with Asia over the past 30 years.

    In 1994, for example, Asia’s population was over three billion people. The region accounted for one quarter of the world’s GDP, and economic growth was underway in many countries. 

    The region had experienced years of peace and stability, albeit with some notable exceptions. Many parts of the region were at the start of a long, although sometimes uneven, path of rising urbanisation, productivity and incomes.

    In New Zealand, our population had just tipped over three million. Asian countries had become important trading partners – this was 20 years after Britain joined the European Economic Community and forced us to look beyond our traditional trading partners. 

    We had adapted by looking closer to home. 

    Thirty five percent of New Zealand’s exports went to Asia, with Japan accounting for close to half of this. 

    Remarkably, at that time China took just two percent of our exports, compared to 20 percent of today.

    Many New Zealanders had come to realise the importance of Asia to our future prosperity.

    Along with this came a recognition that we needed to better understand the vast range of cultures, languages and peoples of the region. This would be a shift for us. 

    Just three percent of New Zealanders at the time identified as being of Asian origin – compared to 17 percent today. 

    We had the beginnings of some cultural and culinary influences, with tourists and students starting to flow. 

    Under the Colombo Plan, we had welcomed many Asian students to New Zealand. But for the most part, these cultural influences were not mainstream or well-understood at the time.

    It was in this context that the Asia New Zealand Foundation was born and began its important work that we are here to discuss today.

    What has changed in Asia? 

    Even those who were aficionados back in 1994 might have been surprised at just how important Asia would become to New Zealand.

    The Asian financial crisis in 1997 was devastating to the region. It was an unsettled and unpredictable time. But the region has recovered, and in fact boomed.

    The figures are certainly impressive. More than one billion people have been lifted out of poverty in Asia since 1990. Asia now comprises over 40 percent of the world’s GDP. In the next quarter century, this is forecast to reach 50 percent. 

    It is important for us all to remember that there has not been just one linear trajectory in the region. Each country has had its own path, and these paths can have different twists and turns over time.

    China’s growth story is of course well-known, but the statistics remain extraordinary. Today, China stands as the world’s second-largest economy worth nearly 18 trillion US dollars in 2023, soaring a staggering 4,000 percent since the 1990s.

    This is not, however, just a China story. There has been astonishing success in other countries, too. 

    India overtook China to become the most populous country in the world last year, and with 900 million registered voters it is also the world’s largest democracy. This year India’s economy will be the fastest growing in the G20, and it is expected to overtake Germany and Japan to become the world’s third largest economy in the next few years. 

    India’s advances in science, technology, education, and space, are inspiring to many countries around the world. In short, India has become a significant global actor playing a key role in securing a stable and prosperous region.

    Japan itself continues to be an economic powerhouse.

    We must also recognise that ASEAN’s growth, after starting down the path of economic integration, has been remarkable. 

    If ASEAN today were one economy, it would be New Zealand’s fourth-largest trading partner. Its countries are growing at an impressive clip – more than five percent year in, year out. 

    The total GDP of ASEAN reached nearly four trillion US dollars last years, positioning it as the fifth largest economy in the world. 

    Projections indicate that ASEAN’s GDP is poised to reach an estimated four and a half trillion US dollars by the year 2030. This will propel ASEAN to become the world’s fourth-largest economy by 2040.

    Much of Asia’s economic growth has been built on trade and manufacturing. But the region is now also central across many facets of the modern economy – from finance and capital, to people, and to innovation.

    To take just two examples, Asia’s services trade is growing 1.7 times faster than the rest of the world. And by 2030, Asia’s fintech revenues are expected to be larger even than North America’s.

    We know economic growth doesn’t happen in a vacuum. It is regional security that has provided the foundation for the significant rise in living standards we have witnessed across Asia. 

    In this time of global upheaval and challenges to the rules-based order, the role of regional security in our collective economic security is undeniable. 

    In Southeast Asia, ASEAN centrality is playing a pivotal role. ASEAN has led the way in bringing the region together in peaceful dialogue. This includes initiatives like the Regional Forum we attended in July, or last week’s East Asia Summit – which was attended by Prime Minister Luxon.

    Notwithstanding the various peaceful offramps that exist, Asia has had, and continues to have, security challenges. 

    The liberal rules-based order – underpinned by US hegemony – is under strain.

    As China’s power and influence have increased, so too have the areas of difference that we have had to navigate.

    We are seeing a rising and more active India.

    And we shouldn’t forget that Russia considers itself an Indo-Pacific power, too.

    Added to this are hemispheric wild cards: the DPRK; other nuclear powers; arms build-up; and alliance and proxy relationships.

    We also have population trends that will have not just economic but also geostrategic consequences. 

    Also, fierce competition for resources: protein and commodities like rare metals.

    Finally – environmental challenges, which are an existential threat for many countries in the region – are exacerbating all of these factors. 

    What has this meant for New Zealand? 

    For New Zealand, the message is clear: we need to continue to understand and engage Asia.

    The Coalition Government, via the Foreign Policy Reset, is focused on building and advancing relationships in a way that engages more actively the region’s opportunities and risks. 

    The work of the Asia New Zealand Foundation remains as relevant today as it was 30 years ago. 

    Understanding Asia starts here at home. The past 30 years has seen a boom, and our ethnic communities have grown significantly. 

    While there is still some way to go, we have started to see Asian New Zealanders in leadership roles – from Members of Parliament to business leaders, sports, and entertainment. 

    Along with this has come a richness of culture and language. Kiwis have enjoyed new festivities and embraced an array of Asian cuisine, at home and at restaurants – something almost completely unavailable 30 years ago.

    The top 25 languages spoken in New Zealand include many Asian languages, such as Mandarin, with nearly 100,000 speakers, as well as Hindi with almost 70,000, Cantonese, Tagalog, Punjabi, Korean, Japanese, Gujarati, and Tamil.

    We celebrate Diwali, Lunar New Year and Eid – festivals that showcase cultural traditions to New Zealanders.

    Last year, 54,000 students from Asian countries came to study in New Zealand education institutions. 

    In the last year we have welcomed over 700,000 international visitors from Asia – nearly double that of a year ago – and we’re looking forward to seeing this growth continue over the coming years as the pandemic fall-out recedes.

    Over the last 70 years, we have provided scholarships and training to 21 countries from the Asian region under our International Development Cooperation programme. This remains a foundation of our enduring people-to-people connections.

    Thanks to the Asia New Zealand Foundation, we have some tangible evidence of how New Zealanders’ attitudes toward Asia have changed over time. 

    The first Perceptions of Asia survey was conducted in 1997 and showed that New Zealanders saw Asia as something largely external. 

    Today, however, over half of New Zealanders feel a connection to Asia in their daily lives, with more than a third regularly enjoying Asia-related entertainment. 

    Over the past decade, public awareness and engagement with Asia has grown significantly. In 2013, one third of New Zealanders said they felt knowledgeable about Asia. 

    That number has now risen to an all-time high, with nearly 60 percent saying they possess at least a fair amount of understanding about the region.

    This is wonderful and thanks in no small part to the work of the Foundation. We hope we will see this familiarity grow further in the coming years.

    New Zealand in Asia

    Alongside these developments in New Zealand, we have been engaging both with Asia but also in Asia.

    Today you can fly direct from Auckland and Christchurch to 14 destinations across Asia, connecting New Zealand to the region and providing opportunities for New Zealanders to interact with and learn about Asia.

     

    Kiwis have been broadening their traditional “OE” and heading to Asia. As just one example, 3,300 New Zealanders have travelled to Japan under the Japan Exchange and Teaching, or “JET”, programme since its inception, teaching English in Japan. 

    Programmes such as the Prime Minister’s Scholarships for Asia have seen thousands of young New Zealanders study at Asian institutions and return with meaningful skills and experience. 

    The Asia New Zealand Foundation has also contributed to this through the internships, grants, and residencies it offers throughout Asia.

    It is important to highlight that seven of our top 10 export destinations are Asian economies. 

    Exports to China amounted to 20 billion New Zealand dollars last year; Japan more than four billion. Korea, Singapore, Taiwan, Malaysia, and Indonesia round out the list of our top export destinations in Asia.

    This has been supported by the network of free trade agreements we have negotiated to support our commercial partnerships over the past 20 years. It is notable that our second oldest FTA is with Singapore – second only to Australia. 

    The origins of CPTPP, one of our most significant trade agreements, also finds its origins in our relationships with Asia. 

    Its precursor, the P4 agreement with Singapore, Brunei, and Chile in 2006, provided the foundation stone for what would become CPTPP.

    CPTPP is itself a high watermark agreement that includes other economies from the region such as Japan, Malaysia, and Viet Nam, and we continue to encourage others who can meet the agreement’s high standards to seek to join in the future.

    All in all, 95 percent of our trade with Asia takes place under a trade agreement.

    New Zealand has also invested in regional institutions. This architecture provides space for dialogue and the exchange of ideas on key issues impacting us. 

    We were the second country to become an ASEAN dialogue partner, and we will celebrate the 50th anniversary of this next year. In that time New Zealand has been and continues to be a trusted partner to ASEAN and its member states. 

    We know that by contributing to ASEAN’s success, and the success of ASEAN-led councils like the East Asia Summit, we contribute to our own success and to that of the region.

    In 1994, New Zealand was a member of one regional body – APEC, which was founded just five years earlier. 

    This platform gives us a venue to influence regional economic policy together with members, who today make up two thirds of global economic growth and take 80 percent of New Zealand’s exports.

    Just over 10 years later, in 2005, our delegation was proud to take part in the inaugural East Asia Summit in Kuala Lumpur. 

    We had put intensive effort into laying the groundwork for the shape of the grouping and New Zealand’s participation. 

    Our membership as a founding partner made clear to all that New Zealand was part of the region and had a role to play in regional decisions. 

    The EAS is now the premier forum for strategic dialogue and regional cooperation. 

    New Zealand is showing up today, as we did then, because we want to support peace and stability in the region in tangible ways.

    Recent years have seen the emergence of new plurilateral and ‘minilateral’ architecture alongside established multilateral architecture. 

    New Zealand supports new groupings that advance and defend our interests and capabilities, and we no reason why these can’t coexist as long as they are constructive, advanced in an open and transparent way, and are respectful of ASEAN centrality.

    We have championed a stable, peaceful and nuclear-free Korean Peninsula. In the current climate, it is not possible to visit North Korea. But in the past, we have. 

    During a 2007 visit, we met with political leaders and advocated in favour of multi-party peace talks. 

    To this day, New Zealand Defence Force assets and personnel are deployed in Korea to maintain the armistice. The Defence Force also has a separate deployment to monitor and deter North Korea’s evasion of UN sanctions.

    In 2006, we received a request from Timor-Leste, seeking assistance to restore stability and freedom of movement. We responded swiftly, deploying police and military troops. 

    In a testament to our security cooperation in the region, Singaporean personnel were integrated seamlessly into a New Zealand battalion.

    New Zealand has a long-standing development programme in Asia. It is our largest programme outside the Pacific and is growing. 

    It goes beyond training and scholarships to respond to the priorities of our ASEAN partners, as well as humanitarian assistance. 

    Just last month, for example, we contributed humanitarian assistance in response to the devastating impacts of Typhoon Yagi in Viet Nam and Myanmar, and to extreme flooding in Bangladesh. 

    It is also worth noting that, for the past 30 years, New Zealand has advanced its policy towards Asia in a bipartisan way wherever possible. 

    This has ensured successive governments can follow through on policy commitments and is one of our greatest strengths.

    What next? 

    It is instructive to think about how far we have come in the past 30 years

    But it is also clear that we need to do more. 

    The world today is disordered and becoming more dangerous. 

    As we said to the NZIIA in May, “the challenges we face are stark, the worst that anyone today working in politics or foreign affairs can remember.” 

    As MFAT’s own strategic assessment has identified, one of the drivers for this has been a shift from rules to power:  the Cold War era of predominant US western hegemony is over. 

    The multipolar world is here to stay, and states: large, middle, and small are all jostling to advance their interests.

    Added to this is the fact that global problems – whether health, environmental, demographic, or migratory – present global risks, but at the same time require state-to-state cooperation to resolve. 

    We offer this simply to point out that we’re living in a time where relationships, norms and rules – many of which have enabled the rise of countries in Asia, including those which seek to challenge those same rules – are changing at the very time when we need to maximise global cooperation.

    This is at the heart of what’s happening in Asia, as well as around the world more broadly. 

    This is why the Government decided earlier this year on a Foreign Policy Reset. A fundamental driver was that our foreign policy needs to reflect and respond to the challenging strategic context we find ourselves in. We need to act now to bring more energy, ambition and engagement to our relationships. 

    Under the Foreign Policy Reset, we have been explicit: we will be increasing the focus on and resources applied to Southeast Asia, South Asia especially India, and North Asia. This is what will have a major impact on our security and prosperity. 

    We are already delivering on this. The Prime Minister and international-facing Ministers have been incredibly active in our engagements with the region, having travelled between us to over 20 countries.

    We have taken forward concrete initiatives to demonstrate the importance and future trajectory of our partnerships. 

    This ranges from cooperation with Japan on a hospital in Kiribati, to a Customs Cooperation Arrangement with India, to advancing toward Comprehensive Strategic Partnerships with ASEAN and Korea.

    Conclusion 

    New Zealand is an Indo-Pacific country. This is our identity, and we know this is where our future lies. With every forecast about Asia’s trajectory, this becomes clearer and clearer.

    It was this realisation that led to the Asia New Zealand Foundation’s birth 30 years ago. And as we have heard today, a lot has changed since then. Asia has evolved, and New Zealand’s relationship with Asian countries has evolved too, in some ways beyond recognition. 

    As we navigate our own pathway forward, we need to understand Asia. If we don’t, our relationships will be characterised by misconceptions, bias and miscalculation. So, our work has really only just begun. New Zealand’s security and prosperity depends on us continuing it.

    MIL OSI New Zealand News

  • MIL-OSI: Forbion raises in excess of €2 billion for two new funds

    Source: GlobeNewswire (MIL-OSI)

    • Forbion’s largest fundraising to date, with Forbion’s Growth Opportunities Fund III raising €1.2 billion and Forbion Ventures Fund VII raising €890 million
    • Assets under management now at €5 billion
    • Fundraising follows strong performance, with six exits of $1 billion+ within a 12-month period

    NAARDEN, The Netherlands, Oct. 15, 2024 (GLOBE NEWSWIRE) — Forbion, a leading global life sciences venture capital firm with deep expertise in Europe, today announces that it has raised over €2 billion ($2.2 billion) across its two newest funds, Forbion Growth Opportunities III and Forbion Ventures VII, bringing assets under management at Forbion to €5 billion ($5.5 billion). Both funds exceeded their original target sizes and reached €1.2 billion ($1.3 billion) and €890 million ($980 million) respectively.

    The fundraising enables an increase of both the number of investments and the average size of Forbion’s participation in future portfolio company financings, reflecting the opportunities it sees for superior returns in development-stage life sciences companies. It is anticipated that the Forbion Growth Opportunities Fund III and Forbion Ventures Fund VII will each invest in approximately 15 portfolio companies.

    Sander Slootweg, Managing Partner and co-founder of Forbion, said: “I thank all our investors for their continued confidence in our ability to source and support innovative biotechs and to deliver impactful returns. With greater levels of capital, we are able to extend more support to our portfolio companies as they grow and seek to maximize their potential. We continue to see great opportunities to deploy capital in Europe and North America, backing talented management teams that develop novel therapeutics with the potential to impact the future of medicine.”

    Robbert van de Griendt, General Partner, Investor Relations and Impact, said: “We are delighted to have achieved this record fundraising against a backdrop of volatile market conditions. The strong demand we have seen from both existing and new investors is directly related to our strong and consistent historical returns as well as an impressive string of recent exits and also reflects investors’ conviction in our specialist investment strategy and in the positive fundamentals of our sector.”

    A track record of strong performance
    Forbion’s latest fundraising builds on its successful track-record of generating consistently impactful returns based on an investment strategy focused on companies with strong fundamentals, anchored in unique science and deep due diligence, while its platform approach enables its funds to support biotechs through company building (Ventures funds) and company expansion (Growth Opportunities funds). Following this approach has led to many valuable exits over time, including, most recently, that of Yellow Jersey Therapeutics, a subsidiary of Numab Therapeutics, Mariana Oncology and Aiolos Bio. Forbion’s success has led to it being recognized as the Top Performing European VC Manager as part of Preqin’s1 2024 awards. Forbion has 58 active investments, and has led or co-led 88% of the initial investment rounds of the 26 portfolio companies across Forbion Growth Opportunities Fund II and Forbion Ventures Fund VI.2

    Brian Frieser, Principal Portfolio Manager PE & Infrastructure at MN, a major Dutch pension advisor, said:Our pension fund clients are dedicated to achieving the best possible risk-return for their participants. Investments in biotech not only promise strong returns but also make a positive societal impact. The capital commitments to Forbion’s new fund on behalf of our clients are expected to contribute significantly to this two-sided goal.”

    Investing in cutting edge science
    Since its launch over two decades ago, Forbion has made 128 investments. During this time, Forbion’s portfolio companies have contributed to advancing medical science and innovation through the development of many breakthrough therapies, including pioneering the development of new technologies such as gene and immune therapies, and via 256 scientific publications. At the end of 2023, active portfolio companies reported a total of 129 drug programs under development and/or in discovery and 80% of drug programs were ‘disease modifying’, in line with Forbion’s focus on enabling the development of novel therapeutics in critical areas of unmet medical need.3

    Expertise and partnerships
    Forbion’s team of over 30 investment professionals and drug development experts makes it one of the largest life sciences venture capital teams in Europe. Its portfolio companies also benefit from the deep industry expertise of Forbion’s 15 operating and venture partners, and its strategic collaborations with industry leading service providers such as Lonza, Thermo Fisher Scientific and Charles River Laboratories. Forbion supports its portfolio companies from its headquarters in Naarden, The Netherlands, its Munich office, as well as from its recently opened office in Boston, Massachusetts.

    For more information, please contact:

    Forbion Investor Relations
    Email: Robbert.van.de.Griendt@forbion.com
    General Partner IR & Impact

    Forbion Communications
    Email: laura.asbjornsen@forbion.com
    Head of Communications

    Brunswick Group
    Ayesha Bharmal, Charis Gresser
    Email: Forbion@Brunswickgroup.com

    About Forbion
    Forbion is a leading global venture capital firm with deep expertise in Europe and offices in Naarden, The Netherlands, Munich, Germany and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. In addition, Forbion leverages its biotech expertise beyond human health to address ‘planetary health’ challenges through its BioEconomy fund strategy, which invests in companies developing sustainable solutions in food, agriculture, materials, and environmental technologies. Forbion’s team consists of over 30 investment professionals that have built an impressive performance track record since the late nineties with 128 investments across 11 funds. Forbion’s record of sourcing, building and guiding life sciences companies has resulted in many approved breakthrough therapies and valuable exits. Forbion typically selects impactful investments that will positively affect the health and well-being of people and the planet, as well as meet its financial return objectives. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.

    About Forbion Growth Opportunities Fund III
    Forbion’s Growth Opportunities Fund III is focused on investing primarily in European as well as North American later-stage biopharma companies developing novel therapies in areas of high medical need.

    About Forbion Ventures Fund VII
    Forbion Ventures Fund VII will build a portfolio of innovative therapeutics-focused biotechs, both existing companies as well as NewCos, (co-) founded by Forbion, created around assets sourced from pharma or academic institutions, or around proven management teams.

    For more information, please visit: http://www.forbion.com


    1 Preqin awards are compiled using public domain information and data reported to Preqin by the participants; they are not independently verified or assessed. Preqin cannot therefore guarantee the accuracy of the information provided
    2 As of 30 September 2024
    3 Source: Forbion’s Impact & ESG report 2023

    The MIL Network

  • MIL-OSI: Siili Solutions Plc: Maria Niiniharju appointed as VP Private Business and member of management team

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc: Maria Niiniharju appointed as VP Private Business and member of management team

    Siili Solutions Plc Stock exchange release 15 October 2024 at 8:45 EEST

    Siili Solutions Plc (“Siili” or “company”) makes changes in its management team and has appointed Maria Niiniharju as Siili’s VP, Private Business and member of Siili’s management team as of 1 November 2024.

    Prior to her new role at Siili, Niinharju has worked at Futurice, where she has been responsible for new business development and client management for private sector clients. At Siili Niiniharju will be leading the company’s Private Business, that will include Siili’s Finance, Industry and Services business units. Her expertise will strengthen Siili’s position as an expert in leveraging AI among private sector clients.

    I am happy to welcome Maria to Siili. She brings us strong experience in business development as well as valuable data and AI expertise, which is perfect fit to accelerate Siili’s strategy execution,” says Siili’s CEO Tomi Pienimäki.

    I am excited about my new role at Siili. I look forward to starting the work to implement the renewed strategy together with the business unit teams. Siili’s strong industry focus and deep customer relationships create an excellent basis for building genuine impact with data and AI,” says Maria Niiniharju.

    Further information:
    CEO Tomi Pienimäki
    Phone: +358 40 834 1399, email: tomi.pienimaki(at)siili.com 

    Distribution:
    Nasdaq Helsinki Oy
    Major media
    http://www.siili.com

    Siili Solutions in brief:
    Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. http://www.siili.com/en

    The MIL Network

  • MIL-OSI: Zscaler Identifies More Than 200 Malicious Apps in the Google Play Store, with Over 8 Million Installs

    Source: GlobeNewswire (MIL-OSI)

    Key Findings:

    • Mobile remains a top threat vector, with 111% growth in spyware and 29% growth in banking malware
    • Technology, education, and manufacturing sectors continue to be most susceptible to attacks
    • The United States remains the top target for IoT, OT, and mobile cybersecurity attacks

    SAN JOSE, Calif., Oct. 15, 2024 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, today published its Zscaler ThreatLabz 2024 Mobile, IoT, and OT Threat Report, which offers an overview of the mobile and IoT/OT cyber threat landscape from June 2023 through May 2024. The findings in this report stress the urgency for organizations to reevaluate and secure mobile devices, IoT devices and OT systems. ThreatLabz identified more than 200 malicious apps in the Google Play Store, with more than 8 million collective installs, and the Zscaler cloud blocked 45% more IoT malware transactions than last year–indicative of botnets continuing to proliferate across IoT devices.

    “Cybercriminals are increasingly targeting legacy exposed assets which often act as a beachhead to IoT & OT environments, resulting in data breaches and ransomware attacks,” said Deepen Desai, Chief Security Officer at Zscaler. “Mobile malware and AI driven vishing attacks adds to that list making it critical for CISOs and CIOs to prioritize an AI powered zero trust solution to shut down attack vectors of all kinds safeguarding against these attacks.”

    Financially motivated mobile attacks remain a top threat vector
    With 29% growth in banking malware attacks and a 111% rise in spyware year over year, cyberattacks have never been more profitable for threat actors, either through monetary gain via direct extortion or passthrough use of stolen personally identifiable information (PII) and user credentials that can be sold and leveraged in future attacks.

    Anatsa, a known Android banking malware that uses PDF and QR code readers to distribute malware, has targeted more than 650 financial institutions, and more specifically, users in Germany, Spain, Finland, South Korea and Singapore.

    Verticals most targeted by bad actors
    The technology (18%), education (18%) and manufacturing (14%) sectors are the most frequent targets of mobile malware. Education in particular saw a dramatic 136% increase in blocked transactions compared to the previous year.

    Additionally, for the second year in a row, manufacturing experienced the highest volume of IoT malware attacks, accounting for 36% of all IoT malware blocks observed on the Zscaler Zero Trust Exchange™ platform. When analyzing unique devices across different verticals, this sector stands out with the highest implementation of IoT devices due to its extensive use of IoT applications, ranging from automation and process monitoring to supply chain management.

    The United States remains the top target for IoT cyberattacks
    With its central role in global communication and data processes, the US also stands out as the primary destination for IoT device traffic, accounting for 81% of IoT cyberattacks. The top five countries that receive the most IoT traffic are:

    • United States
    • Japan
    • China
    • Singapore
    • Germany

    The report also revealed that India (28%) is now the country most targeted by mobile malware. The other four are:

    • United States
    • Canada
    • South Africa
    • The Netherlands

    Legacy and end-of-life operating systems leave OT systems vulnerable
    Once air-gapped and isolated from the internet, OT and cyber-physical systems have rapidly become integrated into enterprise networks, enabling threats to proliferate. OT deployments can involve thousands of connected devices spread across dozens of sites, creating a substantial attack surface for external threats, such as those that exploit known zero-day vulnerabilities. Additionally, this also creates a large attack surface between internal (east-west) OT traffic, increasing the risk of lateral movement and the potential blast radius of a successful attack.

    How to secure mobile, IoT and OT
    With today’s hybrid-work environments, users can work from anywhere with internet access, SaaS apps and private applications, whether in the cloud or the data center. To enable secure hybrid work and provide seamless access to any application, enterprises need to retire network-centric approaches, which hamper productivity and leave them vulnerable to lateral movement. Instead, organizations must adopt a zero trust architecture that enables secure remote access from any user device to any application, from any location.

    Zscaler for IoT and OT enables enterprises to reduce cyber risk while embracing IoT and OT connectivity to drive business agility and increase productivity. Powered by the Zero Trust Exchange, these capabilities protect IoT devices against compromise and prevent lateral movement with device segmentation and deception–all while allowing for remote access to OT systems without risky VPN connectivity.

    The findings of the 2024 Mobile, IoT, and OT Threat Report stress the need for organizations to better secure their mobile endpoints, IoT devices, and OT systems. Download the full report here.

    Research Methodology
    The Zscaler ThreatLabz team analyzed a data set collected from the Zscaler Security Cloud between June 2023 and May 2024, comprising more than 20 billion threat-related mobile transactions and associated cyberthreats.

    About Zscaler
    Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SSE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

    Media Contact:

    Zscaler PR
    Natalia Wodecki
    press@zscaler.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6430484e-f976-4e51-9584-160090d397e6

    The MIL Network

  • MIL-OSI Economics: François Villeroy de Galhau: Fintechs – at the forefront of “new frontiers”

    Source: Bank for International Settlements

    Ladies and Gentlemen,

    I am delighted to welcome you to the Banque de France for this fifth annual Fintech Forum, organised jointly by the ACPR and AMF. I would like to extend a warm welcome to Marie-Anne Barbat-Layani, Chair of the AMF, and to thank Clara Chappaz, Secretary of State for Artificial Intelligence and Digital Technologies, for her presence at the close of this morning’s proceedings. We created this Forum with a simple aim: to show that the Banque de France, and our Authorities, are as much those of the fintechs as they are of the incumbent players, and that innovation and regulation do not necessarily constitute an odd couple.

    Today I would like to illustrate this with a continuity, a break with the past, and a challenge. First, the continuity: while the first few months of 2024 have witnessed a stabilisation of the amount of funds raised, the ACPR and the Banque de France remain resolutely committed to fintechs (I). The break with the past concerns the surge in artificial intelligence: the ACPR stands ready to assume the role of “market supervisor” for the French financial sector (II). Lastly, the challenge is one of balancing openness and trust: as from next January, DORA legislation will provide more trust – as well as more requirements (III).

    I. Continuity: the commitment of the Banque de France and the ACPR to the innovative ecosystem

    1. A stabilising financial environment

    After the heady years of 2021 and 2022, followed by a sharp downturn in 2023,i funds raised by French fintechs stabilised in the first half of 2024 at EUR 560 million, compared with EUR 568 million in the first half of 2023.ii Therefore France is still the EU’s biggest market, ahead of Germany (nearly EUR 500 million), but continues to lag well behind the United Kingdom (EUR 1.3 billion). This stabilisation is due in particular to the shift in monetary policy: the last increase in key rates was in September 2023, and since then we have cut rates twice by 25 basis points, in June and September, as a result of the sharp fall in inflation. I will refrain from saying any more as we are in a “silent period”.

    MIL OSI Economics

  • MIL-OSI Germany: October results of the Bank Lending Survey (BLS) in Germany | Credit standards for firms not tightened further

    Source: Deutsche Bundesbank in English

    For the first time in nearly three years, the German banks responding to the Bank Lending Survey (BLS) did not tighten their credit standards for loans to enterprises further in the third quarter of 2024, but eased them marginally instead. On the other hand, they once again tightened their credit standards for loans to households for house purchase and for consumer credit and other lending to households For the fourth quarter, banks are planning to tighten their credit standards for loans to enterprises again, partly owing to pessimistic market and economic expectations.
    The surveyed banks, did not, on balance, change credit terms and conditions for loans to enterprises. Terms and conditions were eased for loans to households for house purchase and tightened for consumer credit and other lending to households.
    Demand for loans increased in all three loan categories. As expected by banks, the resurgence of demand for loans to enterprises that started in the previous quarter continued. The increase in demand for loans to households exceeded the previous quarter’s expectations.
    The ECB Governing Council’s past and expected key interest rate decisions had a positive impact on net interest income, thereby contributing to an improvement in banks’ profitability in the 2024 summer half-year. For the winter half-year 2024-25, banks are expecting the key interest rate decisions to have a negative impact on their net interest income as well as on their profitability.
    The BLS covers three loan categories: loans to enterprises, loans to households for house purchase, and consumer credit and other lending to households. For the first time in nearly three years, the surveyed banks did not tighten their credit standards (i.e. their internal guidelines or loan approval criteria) for loans to enterprises further, but eased them marginally. By contrast, they tightened their standards for loans to households again. The net percentage of banks that adjusted their requirements was −3% for loans to enterprises (compared with +3% in the previous quarter), +7% for loans for house purchase (compared with +7% in the previous quarter), and +15% for consumer credit and other lending to households (compared with +7% in the previous quarter). In the previous quarter, banks had planned to tighten their standards marginally for loans to enterprises. By contrast, the adjustments in loans to households for house purchase were broadly consistent with what had been planned in the previous quarter; standards for consumer credit and other lending to households were tightened more strongly than planned.
    The recent marginal easing of credit standards for loans to enterprises took place against the backdrop of many and varied low-impact factors – an indication of banks’ uncertain assessments of the general situation. While banks indicated that the general economic situation and the economic outlook were having a restrictive impact on all loan categories, only loans to households have been subject to a tightening of credit standards thus far.

    The banks cited their perception of increased credit risk as the key factor behind the tightening of credit standards for loans to households, attributing this to households’ lower creditworthiness. For the fourth quarter of 2024, banks are planning to tighten credit standards for loans to enterprises and consumer credit and other lending to households, but are not planning to adjust the standards for loans to households for house purchase.
    Although, on aggregate, banks made hardly any changes in the third quarter to their credit terms and conditions (i.e. the terms and conditions actually approved as laid down in the loan contract) for loans to enterprises, this conceals lower lending rates on the one hand and an increase in margins on riskier loans on the other. Terms and conditions for loans to households for house purchase were eased, on the whole. The expansionary adjustments are the outcome of reduced lending rates and lower margins irrespective of credit ratings. As regards consumer credit and other lending to households, meanwhile, limits on loan amounts and increased margins irrespective of credit ratings were the main reasons for the tightened credit terms and conditions overall.
    Demand for bank loans in Germany rose on balance in all loan categories in the third quarter of 2024. The pick-up in demand for loans to enterprises that had begun in the previous quarter continued. This was consistent with banks’ expectations in the previous quarter. Banks saw the decline in the general level of interest rates as the main reason for the increase in demand. For the first time in around two years, this factor no longer dampened, but rather supported, firms’ demand for loans. In addition, funding needs for debt refinancing, restructuring and renegotiation increased. After a second quarter in which fixed investment had been the main driver of overall demand growth, only small and medium-sized enterprises demanded marginally more lending for this purpose in the third quarter. The “inventories and working capital” factor, which had also contributed significantly to the increase in demand in the previous quarter, had an overall slightly dampening effect on demand in the third quarter, as large firms had less need for loans for this purpose. A reduction in internal financing options pushed demand slightly upwards.

    According to banks, households increased their demand for loans for house purchase mainly because they took a more positive view of the housing market outlook. In addition, the general interest rate level once again pushed up demand. Banks believe that demand for consumer credit and other loans to households increased since more durable consumer goods were being purchased and consumer confidence was on the rise. The rejection rate rose for loans to enterprises and consumer credit and other lending to households, whereas it fell for the second time in a row for loans to households for house purchase. For the next three months, the surveyed banks are expecting to see demand increase further across all three loan categories.
    The October survey round contained ad hoc questions on participating banks’ financing conditions and the impact of the ECB Governing Council’s past and expected key interest rate decisions. It also included questions on the impact of the Eurosystem’s monetary policy asset portfolios and on the third series of targeted longer-term refinancing operations (TLTRO III).
    Against the backdrop of conditions in financial markets, German banks reported that their funding situation had improved somewhat compared with the previous quarter. The ECB Governing Council’s past and expected future key interest rate decisions have had, overall, a positive impact on banks’ profitability over the past six months. However, following the two interest rate cuts in June and September of this year, fewer banks reported a positive impact than in previous surveys. Banks continued to attribute the positive impact to an increase in net interest income. For the 2024-25 winter half-year, banks are expecting the key interest rate decisions to have a negative impact on their net interest income as well as on their profitability. The reduction in the Eurosystem’s monetary policy securities holdings, taken in isolation, had a positive impact on profitability, as it contributed to an increase in net interest income. German banks assessed the impact on their capital ratios, too, as positive.
    Over the past six months, TLTRO III has had hardly any impact on the financial situation of banks in Germany. Only in terms of profitability did banks continue to report a positive impact. For the first time, TLTRO III no longer had any impact on the liquidity position of banks in Germany. As the deadline for repaying borrowed funds in full is December 2024, banks are not expecting TLTRO III to have any further impact on their financial situation over the next six months.
    The Bank Lending Survey, which is conducted four times a year, took place between 6 September and 23 September 2024. In Germany, 33 banks took part in the survey. The response rate was 97%.

    MIL OSI

    MIL OSI German News

  • MIL-OSI: Matter Real Estate and GCM Grosvenor Continue Strategic European Residential Partnership with Investments in Germany and Denmark

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Oct. 15, 2024 (GLOBE NEWSWIRE) — Matter Real Estate (“Matter”), a London-based real estate investment firm, with support from one of its investors, GCM Grosvenor (NASDAQ: GCMG), is pleased to announce its initial investment in residential development platform 15 Degree in Germany as well as further investment into the Velkomn platform in Denmark.

    Matter, with the support of various GCM Grosvenor funds, will commit to new projects totalling over €500m across both companies, with the goal of developing a 2,000-unit portfolio across two of Europe’s strongest residential markets. Velkomn, a platform established by Matter in 2023 to invest in single-family residential properties in Denmark, recently purchased a 667-unit stabilised portfolio across eight schemes for €170m.

    Matter has also committed to funding equity for €250 million of developments with 15 Degree, a German residential developer and manager. The 15 Degree partnership, a new investment for Matter, will facilitate the development of a portfolio of sustainable residential properties in Berlin. The investment broadly supports the evolution of both new and distressed projects in the German market with the initial two assets secured totalling 156 units.

    These investments build upon GCM Grosvenor’s previous commitments to Matter platform company Placefirst, a leading developer of attainable housing in the UK, and strategically enhance GCM Grosvenor’s access to two of Europe’s most significant residential markets. The ongoing partnership reinforces the two firms’ commitment to pursuing strong, risk-adjusted opportunistic investments in the European residential sector for their clients.

    David Christie, CEO at Matter Real Estate, said: “Our partnership with GCM Grosvenor continues to go from strength to strength. These two investments show that Matter has the expertise to implement our pan-European residential strategy across key markets which present attractive growth opportunities. We look forward to sustaining our ongoing partnership with GCM Grosvenor and welcoming other investors in these strategies.”

    Peter Braffman, Managing Director at GCM Grosvenor, said: “European residential strategies remain a core focus of our investment program given the favourable supply/demand dynamics and the critical need for quality rental housing across the region. Our strategic investment program with Matter has given us a unique access point to these markets which we believe can generate positive outcomes for our clients and future residents.”

    END

    About Matter Real Estate

    Founded in 2021, Matter Real Estate is a real estate investment firm that focuses the living sector real estate across Europe. It takes an operational approach, focusing on assets that meet fundamental end-user needs in sectors where there is structural demand, but barriers to large-scale investment. Matter invests in sectors including, but not limited to, build-to-rent, single-family housing, senior living and affordable housing. Matter has a 16-person team all based in London. For more information, please visit http://www.matterrealestate.co.uk.

    About GCM Grosvenor
    GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $79 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 540 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

    Media Contacts
    Greenbrook
    James Madsen and Emelia Rice | +44 20 7952 2000 | MatterRE@greenbrookadvisory.com

    The MIL Network