Category: Germany

MIL-OSI China: UN concludes Summit of Future for new start of multilateralism

Source: China State Council Information Office

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

The two-day Summit of the Future concluded in the United Nations headquarters in New York on Monday evening, as a major part of the ongoing 79th UN Genernal Assembly (UNGA) with a clamor for multilateralism in the future governance of global affairs.

The summit featured the adoption of the Pact for the Future and its annexes — the Global Digital Compact and the Declaration on Future Generations.

It is “a commitment to a new start in multilateralism,” said a UN release. “The centerpiece of the Summit of the Future is a once-in-a-generation opportunity to reimagine the multilateral system and steer humanity on a new course to meet existing commitments and solve long-term challenges.”

“We stand at a crossroads of global transformation, facing unprecedented challenges that demand urgent, collective action,” UNGA President Philemon Yang said at the opening segment on Sunday. “From conflict and climate change to the digital divide, from inequalities to threats against human rights, together, we all face profound challenges. Yet, alongside these challenges, there is hope.”

“I called for this summit to consider deep reforms to make global institutions more legitimate, fair and effective, based on the values of the UN Charter,” UN Secretary-General Antonio Guterres addressed the summit. “Our multilateral tools and institutions are unable to respond effectively to today’s political, economic, environmental and technological challenges. And tomorrow’s will be even more difficult and even more dangerous.”

Speaking on behalf of the least developed countries (LDCs) group, Prime Minister of Nepal KP Sharma Oli said that millions of their children are hungry every day, highlighting the inequality evident around the globe.

“Nothing could be more unjust and ethnical than to be ignorant to the fact that millions of people in LDCs live in extreme poverty while a small minority in some corners of the world accumulate billions in wealth,” he said.

Olaf Scholz, chancellor of Germany, urged those present to take steps towards a more peaceful, fairer world, saying that while “the road ahead is rocky,” history will judge member states for their commitment to the plan at hand.

The pact can serve as a compass towards cooperation instead of conflict, showing determination to restore international justice and expelling all the talk of polarization, he added.

The Pact for the Future, covering a broad range of themes including peace and security, sustainable development, climate change, digital cooperation, human rights, gender, youth and future generations, and the transformation of global governance, was adopted unanimously on Sunday. Over 130 heads of state and government attended the summit prepared over a period of over 1.5 years and made remarks about the documents it hammered out as its main outcome.

MIL OSI China News –

September 29, 2024
MIL-OSI China: World leaders hail adoption of pact at UN Summit of the Future

Source: China State Council Information Office

Brazilian President Luiz Inacio Lula da Silva (at the podium) speaks at the Summit of the Future at the UN headquarters in New York, Sept. 22, 2024. [Photo/Xinhua]

As the Summit of the Future entered its second and final day at the United Nations headquarters in New York on Monday, leaders from the world body’s member countries continued to hail the adoption of the Pact for the Future, with Global Digital Compact and Declaration on Future Generations as its annexes.

The pact and its annexes cover a broad range of themes including peace and security, sustainable development, climate change, digital cooperation, human rights, gender, youth and future generations and the transformation of global governance.

“The Summit of the Future is a high-level event, bringing world leaders together to forge a new international consensus on how we deliver a better present and safeguard the future,” said the world organization in its release. “This once-in-a-generation opportunity serves as a moment to mend eroded trust and demonstrate that international cooperation can effectively tackle current challenges as well as those that have emerged in recent years or may yet be over the horizon.”

President of Angola João Lourenço said that the adoption of the Pact for the Future represents “a real turning point” for a more dynamic, engaged and assertive approach to the issues that are of concern to the humanity. Stressing the importance of including youth and women as “vital drivers” of transformation and modernization, he called for a commitment “to step up the fight against poverty in all forms and dimensions.”

President of the Czech Republic Petr Pavel said that the Pact for the Future creates a solid base for a better and more effective multilateral system. Particularly, he insisted, it is critical to “contribute to our shared understanding of how to handle technology safely on a daily basis and protect ourselves against its misuse by malign actors.”

President of Ecuador Daniel Noboa said that all global decisions and commitments must be determined with “the involvement and contribution of those who today can build tomorrow.” To tackle “the alarming and growing rates of youth unemployment” through targeted investment, he said that this is the only way “to pull youth from the grasp of crime, drugs and transnational organized criminal activities.”

President of Tajikistan Emomali Rahmon said that the inclusion of climate and water issues in the final document “underscores the imperative for sustained and urgent action” to secure a peaceful and sustainable future. Despite some progress, “access to filtered water and sanitation remains insufficient,” he said, voicing the commitment of his country to enhancing collaboration with other nations to advance water resource management and climate change action.

Albert II, Prince of Monaco, said that the Pact for the Future establishes a bedrock for a more prosperous world and allows young people to flourish in an environment protected from security threats such as transnational crime. “Peace is our most valuable asset,” he added, noting that without access to human rights, a world benefiting all people is impossible.

Speaking on behalf of the least developed countries (LDCs) group, Prime Minister of Nepal KP Sharma Oli said that millions of their children are going hungry every day, highlighting the clear inequality evident around the globe. “Nothing could be more unjust and ethnical than to be ignorant to the fact that millions of people in LDCs live in extreme poverty while a small minority in some corners of the world accumulate billions in wealth,” he said, noting that this is not the future that humanity should aspire towards. “The International community must act now to ensure every child and young person has the chance to thrive.”

Nangolo Mbumba, president of Namibia, noted that the world is at a crossroads. One path leads to environmental catastrophe, widening inequality, global conflict, destruction and the rise of dangerous technology that threatens peoples’ security and civil liberties; the other, to peace, the eradication of poverty and hunger and the responsible harnessing of digital technologies for the benefit of humanity.

Olaf Scholz, chancellor of Germany, urged those present to take steps towards a more peaceful, fairer world, stating that, while “the road ahead is rocky,” history will judge member states for their commitment to the plan at hand. The pact can serve as a compass towards cooperation instead of conflict, showing determination to restore international justice and expelling all the talk of polarization, he added.

“We do not have time to waste,” stressed Sadyr Zhaparov, president of Kyrgyzstan, urging “decisive” action to strengthen the connections between nations and forge global partnerships to address challenges such as forced migration, climate threats and the unjust distribution of resources.

Stressing that “inaction is not an option,” Chandrikapersad Santokhi, president of Suriname, pointed to Caribbean nations’ lack of financial resources to invest in health, education and infrastructure due to external debt.

The failure to share global resources will continue to drive humanity to war, social disintegration and migration and “condemn us to live in two separate worlds”, said Mia Amor Mottley, prime minister of Barbados.

“The future is not distant,” stressed Nana Addo Dankwa Akufo-Addo, president of Ghana. “It is here, and the choices we make here will determine the fate of generations to come.” No nation, regardless of power, can solve today’s challenges alone, he stated.

Lula da Silva, president of Brazil, highlighted the “great responsibilities to those who will succeed us,” and urged them not to back down from the promotion of equality between men and women and the fight against racism and all forms of discrimination. He also stressed that “we cannot live with nuclear threats again, nor fuel new arms races on Earth or in space,” noting that it is unacceptable to regress to a world divided into ideological borders or zones of influence.

MIL OSI China News –

September 29, 2024
MIL-OSI China: World leaders hail adoption of Pact for the Future

Source: China State Council Information Office 3

Brazilian President Luiz Inacio Lula da Silva (at the podium) speaks at the Summit of the Future at the UN headquarters in New York, Sept. 22, 2024. [Photo/Xinhua]

As the Summit of the Future entered its second and final day at the United Nations headquarters in New York on Monday, leaders from the world body’s member countries continued to hail the adoption of the Pact for the Future, with Global Digital Compact and Declaration on Future Generations as its annexes.

The pact and its annexes cover a broad range of themes including peace and security, sustainable development, climate change, digital cooperation, human rights, gender, youth and future generations and the transformation of global governance.

“The Summit of the Future is a high-level event, bringing world leaders together to forge a new international consensus on how we deliver a better present and safeguard the future,” said the world organization in its release. “This once-in-a-generation opportunity serves as a moment to mend eroded trust and demonstrate that international cooperation can effectively tackle current challenges as well as those that have emerged in recent years or may yet be over the horizon.”

President of Angola João Lourenço said that the adoption of the Pact for the Future represents “a real turning point” for a more dynamic, engaged and assertive approach to the issues that are of concern to the humanity. Stressing the importance of including youth and women as “vital drivers” of transformation and modernization, he called for a commitment “to step up the fight against poverty in all forms and dimensions.”

President of the Czech Republic Petr Pavel said that the Pact for the Future creates a solid base for a better and more effective multilateral system. Particularly, he insisted, it is critical to “contribute to our shared understanding of how to handle technology safely on a daily basis and protect ourselves against its misuse by malign actors.”

President of Ecuador Daniel Noboa said that all global decisions and commitments must be determined with “the involvement and contribution of those who today can build tomorrow.” To tackle “the alarming and growing rates of youth unemployment” through targeted investment, he said that this is the only way “to pull youth from the grasp of crime, drugs and transnational organized criminal activities.”

President of Tajikistan Emomali Rahmon said that the inclusion of climate and water issues in the final document “underscores the imperative for sustained and urgent action” to secure a peaceful and sustainable future. Despite some progress, “access to filtered water and sanitation remains insufficient,” he said, voicing the commitment of his country to enhancing collaboration with other nations to advance water resource management and climate change action.

Albert II, Prince of Monaco, said that the Pact for the Future establishes a bedrock for a more prosperous world and allows young people to flourish in an environment protected from security threats such as transnational crime. “Peace is our most valuable asset,” he added, noting that without access to human rights, a world benefiting all people is impossible.

Speaking on behalf of the least developed countries (LDCs) group, Prime Minister of Nepal KP Sharma Oli said that millions of their children are going hungry every day, highlighting the clear inequality evident around the globe. “Nothing could be more unjust and ethnical than to be ignorant to the fact that millions of people in LDCs live in extreme poverty while a small minority in some corners of the world accumulate billions in wealth,” he said, noting that this is not the future that humanity should aspire towards. “The International community must act now to ensure every child and young person has the chance to thrive.”

Nangolo Mbumba, president of Namibia, noted that the world is at a crossroads. One path leads to environmental catastrophe, widening inequality, global conflict, destruction and the rise of dangerous technology that threatens peoples’ security and civil liberties; the other, to peace, the eradication of poverty and hunger and the responsible harnessing of digital technologies for the benefit of humanity.

Olaf Scholz, chancellor of Germany, urged those present to take steps towards a more peaceful, fairer world, stating that, while “the road ahead is rocky,” history will judge member states for their commitment to the plan at hand. The pact can serve as a compass towards cooperation instead of conflict, showing determination to restore international justice and expelling all the talk of polarization, he added.

“We do not have time to waste,” stressed Sadyr Zhaparov, president of Kyrgyzstan, urging “decisive” action to strengthen the connections between nations and forge global partnerships to address challenges such as forced migration, climate threats and the unjust distribution of resources.

Stressing that “inaction is not an option,” Chandrikapersad Santokhi, president of Suriname, pointed to Caribbean nations’ lack of financial resources to invest in health, education and infrastructure due to external debt.

The failure to share global resources will continue to drive humanity to war, social disintegration and migration and “condemn us to live in two separate worlds”, said Mia Amor Mottley, prime minister of Barbados.

“The future is not distant,” stressed Nana Addo Dankwa Akufo-Addo, president of Ghana. “It is here, and the choices we make here will determine the fate of generations to come.” No nation, regardless of power, can solve today’s challenges alone, he stated.

Lula da Silva, president of Brazil, highlighted the “great responsibilities to those who will succeed us,” and urged them not to back down from the promotion of equality between men and women and the fight against racism and all forms of discrimination. He also stressed that “we cannot live with nuclear threats again, nor fuel new arms races on Earth or in space,” noting that it is unacceptable to regress to a world divided into ideological borders or zones of influence.

MIL OSI China News –

September 29, 2024

MIL-OSI USA: Reps. Carson, Jayapal, Schakowsky Introduce UNRWA Funding Bill

Source: United States House of Representatives – Congressman Andre Carson (7th District of INDIANA)

WASHINGTON, DC—Representative André Carson (IN-07) has introduced H.R. 9649, the UNRWA Funding Emergency Restoration Act of 2024 with Rep. Pramila Jayapal (WA-07) and Rep. Jan Schakowsky (IL-09). This bill will end the congressionally and administratively mandated pause on funding for the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNWRA).

The United States has historically been one of the largest financial supporters of UNRWA, which serves nearly 6 million Palestinian refugees across the West Bank, East Jerusalem, Syria, Jordan, and Lebanon. In March of this year, the U.S. paused UNRWA funding after the Israeli government alleged that 12 agency employees had direct involvement in Hamas’ October 7 terrorist attack.

Following the UN’s investigation and proactive commitments made by UNRWA toward complete accountability and reform, all countries except the U.S. have resumed their UNRWA funding, including the European Union, United Kingdom, Canada, Australia, Finland, Germany, Japan, and Sweden. Approximately 1.9 million people – 9 in 10 Gazans – have been displaced at least once, and an estimated 43,580 are pregnant women. UNRWA has served as the primary humanitarian aid organization operating in Gaza, and without funding, hundreds of thousands of Gaza civilians are left vulnerable. It is estimated that over 1 million Gazans will not have enough food this month, and availability of basic hygiene items has dropped to 15%. In addition to a polio outbreak, Gazans are suffering from malnutrition and treatable diseases due to “systematic dismantling of healthcare”from bombardments on civilians.

“The scale of this devastating, man-made crisis in Gaza cannot be overstated,” said Congressman Carson. “Providing humanitarian aid to a starving nation – with funding Congress has appropriated year after year – should not be controversial. I urge my colleagues who care about basic human rights, the rights of pregnant women, and the wellbeing of innocent children to join our bill. UNRWA has taken appropriate and proactive steps towards accountability and transparency, conducting multiple independent reviews that continue to prove the organization is both in compliance and imperative to provide the region with lifesaving assistance. It’s past time we restore funding and save lives.”

“UNRWA has played a unique and integral role in supporting the welfare of Palestinian refugees for decades. Their on-the-ground understanding is invaluable to ensure that humanitarian aid makes it to the people who need it most — in the West Bank, East Jerusalem, Syria, Jordan, Lebanon, and critically in this moment in Gaza,” said Congresswoman Jayapal. “There is no question in my mind that revoking funding for UNRWA will lead to more devastation and loss of life in Gaza. We must ensure that those acting in good faith to save civilian lives are not undermined by a lack of US funding.”

“For decades, the United Nations Relief and Works Agency (UNRWA) has been a lifeline for Palestinians, providing food, clean water, healthcare, shelter, education, and livelihoods. Today, UNRWA remains the backbone of the humanitarian response in Gaza as it endures ongoing war and a dire humanitarian crisis. UNRWA and the United Nations have taken swift and decisive actions to address the concerns raised by the U.S. government when it paused funding in January and our allies have all resumed funding for UNRWA. The U.S. must follow suit and resume funding for this critical humanitarian agency,” said Congresswoman Schakowsky. “I am proud to co-lead the UNRWA Funding Emergency Restoration Act to restore funding to UNRWA and help Gazans get the humanitarian assistance they need at a time of unprecedented crisis.”

“J Street is proud to be supporting the UNRWA Emergency Restoration Act of 2024 introduced by Representatives Carson, Jayapal, and Schakowsky. We should restore funding, as all our major allies have, and stop playing politics with Palestinian welfare and Israel’s security,” said J Street President Jeremy Ben-Ami. “As UNRWA’s largest donor and Israel’s key security guarantor, the United States has a special obligation to address this crisis.”

“Gaza isn’t starving. It’s being starved,” said Hassan El-Tayyab, legislative director for Middle East policy at the Friends Committee on National Legislation. “Over two million Palestinian civilians are enduring a man-made humanitarian catastrophe, with famine and disease spreading due to blocked aid access. Meanwhile, the Biden administration and Congress continue to withhold all U.S. funding for the largest aid operation in Gaza—the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). UNRWA is the backbone of aid delivery in Gaza, ensuring that millions receive desperately needed assistance. Blocking U.S. funding for UNRWA’s critical work is a cruel and unjustified decision that only deepens Gaza’s humanitarian suffering. Congress and the Administration must act swiftly to correct this wrong by supporting the UNRWA Funding Emergency Restoration Act and restoring this urgently needed aid.”

“Restoring funding to UNRWA is a humanitarian imperative,” said Sharif Aly, President of the International Refugee Assistance Project (IRAP). “For over six decades, the United States has been one of the strongest supporters of UNRWA, which provides lifesaving aid and social services to millions of Palestinian refugees across the Middle East. Those services are desperately needed in Gaza right now, and UNRWA is the only organization with the capacity and expertise necessary to provide them at scale. The United States must uphold its commitment to the human rights of the Palestinian people and pass this legislation to reinstate funding to the humanitarian agency immediately. Failing to do so would lead to further human suffering.”

“In restoring funding for food, water, shelter, and medical care for Palestine refugees, the UNRWA Restoration Act honors this most basic and inalienable truth — that the people of Palestine are human beings, just like all of us, and all lives are sacred, not just some,” said Mara Kronenfeld, Executive Director UNRWA USA.

“UNRWA is indispensable to providing Palestinians in Gaza, the West Bank, Lebanon, Jordan, and Syria with the education, healthcare, and other critical services that are key to successful, productive livelihoods and citizenry, and a future of peace and prosperity, which should be in everyone’s interests. We support full restoration of funding to UNRWA,” said Sean Carroll, President and CEO of Anera.

“We express our gratitude to Representatives André Carson, Pramila Jayapal, and Jan Schakowsky for introducing the UNRWA Emergency Restoration Act of 2024,” said James Zogby, President of the Arab American Institute. “This lifesaving legislation aims to restore critical U.S. financial support to the United Nations Relief and Works Agency (UNRWA) by repealing previous funding restrictions and encouraging the Secretary of State to lift the temporary pause on federal funding. UNRWA plays a vital role in providing essential services to millions of Palestinian refugees across the Occupied Palestinian Territory, Lebanon, Jordan, and Syria. The ongoing genocide in Gaza has resulted in increased displacement, starvation, and death. It is both inhumane and unconscionable to continue withholding financial support from UNRWA. We recognize that the majority of Americans are horrified by the death and destruction they witness daily in Gaza and the West Bank. UNRWA’s humanitarian aid and services often mean the difference between life and death for these vulnerable populations. Restoring U.S. funding to UNRWA is urgent, just, and the only morally responsible option. We urge lawmakers to prioritize the passage of this crucial legislation and ensure that UNRWA can continue to provide life-saving assistance to Palestinian refugees in the region.”

The UNRWA Funding Emergency Restoration Act of 2024 has been endorsed by the following organizations as of 9/19/24:

18 Million Rising

Action Against Hunger

Action Corps

ActionAid USA

AFSC, American Friends Service Committee

American Baptist Churches USA

American Friends of Combatants for Peace

American Friends Service Committee

American-Arab Anti-Discrimination Committee (ADC)

Americans for Justice in Palestine Action

Americans for Peace Now

Anera

Avaaz

Cairo Institute for Human Rights Studies (CIHRS)

Carolina Peace Center

Center for American Progress

Center for Civilians in Conflict (CIVIC)

Center for Constitutional Rights

Center for Gender & Refugee Studies

Center for International Policy

Center for Jewish Nonviolence

Center for Security, Race and Rights

Center for Victims of Torture

Charity&Security Network

Christian Aid

Church World Service

Climate Refugees

Coalition for Humane Immigrant Rights (CHIRLA)

CODEPINK

CommonDefense.us

Congregation of Our Lady of Charity of the Good Shepherd, U.S. Provinces

Council on American-Islamic Relations (CAIR)

Danish Refugee Council

DAWN

Demand Progress

Doctors Against Genocide

Emgage Action

FCNL

Foreign Policy for America

Friends of Sabeel North America

Global Ministries of the Christian Church (Disciples of Christ) and United Church of Christ

Health Advocacy International

Hindus for Human Rights

Historians for Peace and Democrcy

Human Rights First

Humanity & Inclusion

IfNotNow Movement

International Civil Society Action Network (ICAN)

International Refugee Assistance Project (IRAP)

International Rescue Committee

Israel/Palestine Mission Network of the Presbyterian Church (U.S.A.)

J Street

Jewish Voice for Peace Action

KinderUSA

MADRE

Maryknoll Office for Global Concerns

Middle East Children’s Alliance

Middle East Democracy Center (MEDC)

Migrant Roots Media

MoveOn

MPower Change Action Fund

Muslim Advocates

National Advocacy Center of the Sisters of the Good Shepherd

National Council of Churches

National Iranian American Council Action

National Partnership for New Americans

Nonviolent Peaceforce

Norwegian Peoples aid

Norwegian Refugee Council USA

Oxfam

Partners for Progressive Israel

Pax Christi USA

Peace Action

People’s Action

Presbyterian Church (USA), Office of Public Witness

Progressive Democrats of America

Project HOPE

Project South

Quincy Institute for Responsible Statecraft

Rebuilding Alliance

Refugee Congress

Refugees International

ReThinking Foreign Policy

RootsAction.org

Save the Children US

Sisters of Mercy of the Americas – Justice Team

Terre des hommes – Lausanne

The Episcopal Church

The Tahrir Institute for Middle East Policy (TIMEP)

The United Church of Christ

UNRWA USA National Committee

US Campaign for Palestinian Rights Action (USCPR Action)

Veterans For Peace, Chapter #63 (Albuquerque)

War Child Alliance

We Are All America (WAAA)

Welcoming America

Win Without War

Women’s International League for Peace and Freedom, US

Working Families Party

Yemen Relief and Reconstruction Foundation

ACCESS of WNY

Al Otro Lado (CA and Tijuana)

Atlanta Multifaith Coalition for Palestine

CAIR-Ohio

Christian Jewish Allies for a Just Peace in Israel/Palestine

Church Women United in New York State

Council on American-Islamic Relations, New York chapter (CAIR-NY)

Dorothy Day Catholic Worker, Washington DC

Jewish Voice for Peace Albuquerque

Minnesota Peace Project

Muslim Justice League (MA)

New York Progressive Action Network

Oasis Legal Services (CA)

OnceAForest.org (NM)

Peace Action WI

Peace, Justice, Sustainability NOW!

Showing Up For Racial Justice (SURJ) Bay Area

Veterans For Peace – Santa Fe NM Chapter

Muslims United PAC (MUPAC)

MIL OSI USA News –

September 29, 2024

MIL-OSI USA: Newhouse Introduces Resolution to Honor Gold Star Families

Source: United States House of Representatives – Congressman Dan Newhouse (4th District of Washington)

Headline: Newhouse Introduces Resolution to Honor Gold Star Families

Rep. Dan Newhouse (R-WA) led 44 members in introducing the Gold Star Families Remembrance Week Resolution to honor the sacrifices made by families of U.S. military servicemembers who lost their lives in service to the nation. It designates September 22 – 28, 2024 as Gold Star Families Remembrance Week.

“Our service members and their families have made great sacrifices in service to their country, and it is important that they are not forgotten,” said Rep. Newhouse.

Newhouse continues, “By designating September 22-28 as Gold Star Families Remembrance Week, we recognize the extraordinary courage and resilience of our Gold Star Families and reflect on those we have lost. These families bear an unimaginable burden—enduring the loss of their loved ones who gave their lives in service to our nation—and we have a responsibility to ensure their memory is preserved.”

The following are quotes of support from Gold Star Family members:

“I am very pleased that Congress is choosing to recognize Gold Star Families Remembrance Week. Every Memorial Day, we honor our warriors who gave their lives in defense of America. We should also honor the families of those fallen warriors, who stood behind them as they served, suffered the pain of their loss, then picked up the pieces and carried on. I’m a Gold Star son who lost my father in Vietnam. Life has taught me three truths. Grief fades. Love never dies. Courage shines on forever.” – Retired Army Lieutenant Colonel Hank Cramer, Washington, Gold Star Son of Captain Harry Griffith Cramer Jr. (U.S. Army Special Forces), who was Killed in Action in 1957 in Vietnam.

“I was just a year old when my father was declared Missing in Action in December 1945 in Germany. I have no memory of him but would like to honor his legacy by sharing his story with others who want to know the experiences of Gold Star families.” – Karen Oberg, California, Gold Star Daughter of Pvt. Worrell F. Oberg (Army) who was Killed in Action on December 22, 1945, and whose remains have yet to be recovered.

“My brother had just turned one and I was two and a half when our father was killed. As we got older, we often wondered what kind of man he was. In a letter to his sister just before he was killed, dad wrote that he had been wounded and had to build up his courage to go back in combat because he had seen so much death and destruction. From that letter, and in that moment, we knew our dad was a hero and we brought him off the shelf and back into life.” – Walt Linne, Indiana, Gold Star Son of Sgt. Walter John Linne (Army) who was Killed in Action in Germersheim, Germany on March 24, 1945.

“In 2022, when I visited South Korea and observed for myself the freedom, liberty, prosperity and gratitude of the South Korean people, I further realized that the supreme sacrifice by my father and its effect on our family was not in vain.” – Robert James Johnston, Tennessee, Gold Star Son of Sgt. James Fred Johnston (Army) KIA/MIA, December 2, 1950, at the Chosin Reservoir, North Korea.

“Since I was only two when my Dad went missing, I have no personal memories of him other than what my Mom told me often that to do my best as my Dad would expect or when I did something good, she would tell me how proud he would be of me. David, my brother, and I grew up loving the same things our Dad did, Boy Scouts, the outdoors, hunting, fishing and family.” – Mike Logan, Tennessee, Gold Star Son of Maj. Samuel P. Logan, Jr. (USAF). He was the pilot of a B-29 shot down and taken captive while on a mission over North Korea on September 9, 1950. In 1954 he was declared Killed in Action. Maj. Logan was survived by his Gold Star Wife and two Gold Star Sons.

“Being a Gold Star family member signifies profound sacrifice and loss as we bear the enduring grief of losing a loved one in service to the nation. Gold Star families’ identities are shaped with both pride and sorrow.” – Carol Brenneman Reed, California, Gold Star Daughter of Captain Austin E.E. Brenneman (USMC) who was Killed in Action on May 28, 1951, in Anak, North Korea.

“In July 1951, the 2nd Inf Div deployed to Korea, leaving a pregnant, newlywed wife on a lifetime path of uncertainty, grief, loss, and life challenges. Ellen Marie Blissenbach handled her loss by joining the Gold Star Wives of America, becoming very active in supporting other families and veterans, as well as seeking information on my missing father, ultimately achieving some closure before her passing.” – Maj. Paul K. Blissenbach US Army (Retired), Kentucky, Gold Star Son of SFC Joseph A. Blissenbach, who gave his life on November 30, 1950, in Kunu-ri, North Korea.

“Losing my father in the Battle of Ia Drang Valley during the Vietnam War was an indescribable blow, not only to my family but to the very fabric of my life. His absence left a profound void, a loss that reverberated through every milestone, forever shaping who I became. The sacrifice he made in such a fierce and historic battle deepens the sorrow, as his life was cut short defending a cause that took him far from home, never to return.” – Army veteran Thomas Barrett, Ph. D., Maryland, Gold Star Son of SSGT Thomas J. Barrett, Jr. (Army), Killed in Action November 15, 1965, Vietnam.

“During Gold Star Families Remembrance Week, we honor the parents, spouses, siblings and children of those service members who lost their lives defending the United States and her allies. For nearly a century, ‘The Long Gold Line’ of these Gold Star Families has personified the resilience of the American spirit. Here on the home front, they endured the worst possible news delivered from a faraway war front. Yet they moved forward supporting each other and carrying on the legacies of their fallen heroes who, in the name of freedom, gave their last full measure of devotion.” – Tony Cordero, California, Gold Star Son of Maj. William E. Cordero (USAF) who was killed on a bombing mission over North Vietnam on June 22, 1965. He is the founder of Sons and Daughters In Touch – America’s Gold Star Children from the Vietnam War.

“Our son held a strong sense of honor and service and would have no regrets. We honor his valor and sacrifice every day. We gratefully support this resolution to honor and remember the sacrifices of all of our fallen and of the 7068 men and women Killed In Action in the Global War on Terror and the ongoing sacrifices of the families they left behind. It is this nation’s responsibility to Never Forget, to honor their valor, and to always support the families left behind.” – Barbara and Col. Mark Roland (USAF, Retired), Kentucky, Gold Star Mother and Father of Captain Matthew Roland, USAF, Killed In Action in Afghanistan on August 26, 2015.

“My father flew 22 missions along the coastal waters of Vietnam to clear the area of enemy submarines before the US could bring in the 7th Fleet at the onset of the Vietnam War. His body was never recovered after his plane plunged into the South China Sea. My life and my family crumbled before my eyes and to this day I continue to live a life never knowing my father. Three months after the attack on the Twin Towers, my son joined the US Army, following his grandfather’s footsteps as he was also willing to die for his country. Unfortunately, it ended horrifically when he was killed by an enemy IED while on patrol near the Hor Rijeb Canal in Iraq. There is no greater love than this: that a person would lay down his life for the sake of his country.” – Elaine M. Roach, California, Gold Star Mother of PFC Joel Brattain, Killed in Action on March 13, 2004, and Gold Star Daughter of Lt. Harold S. Roach (Navy), lost in the South China Sea on October 2, 1964.

The following Members are co-sponsors of the legislation:

Reps. Andy Barr (R-KY), Mike Bost (R-IL), Vern Buchanan (R-FL), Larry Bucshon (R-IN), Troy Balderson (R-OH), Juan Ciscomani (R-AZ), Jake Ellzey (R-TX), Randy Feenstra (R-IA), Chuck Fleischmann (R-TN), Mike Flood (R-NE), Brett Guthrie (R-KY), Mark Green (R-TN), Michael Guest (R-MS), Young Kim (R-CA), Greg Lopez (R-CO), Julia Letlow (R-LA), Nick LaLota (R-NY), Mike Lawler (R-NY), Greg Murphy (R-NC), John Moolenaar (R-MI), Tracey Mann (R-KS), Zach Nunn (R-IA), Elise Stefanik (R-NY), Greg Steube (R-FL), Glenn Thompson (R-PA), Daniel Webster (R-FL), Roger Williams (R-TX), Brandon Williams (R-NY), David Valadao (R-CA), Salud Carbajal (D-CA), Jim Costa (D-CA), Chris Deluzio (D-PA), Don Davis (D-NC), Josh Harder (D-CA), Glenn Ivey (D-MD), Derek Kilmer (D-WA), William Keating (D-MA), Joe Morelle (D-NY), Kathy Manning (D-NC), Wiley Nickel (D-NC), Scott Peters (D-CA), Deborah Ross (D-NC), Linda Sanchez (D-CA), Paul Tonko (D-NY), and Juan Vargas (D-CA).

Click here to read the full text of the bill.

###

MIL OSI USA News –

September 29, 2024
MIL-Evening Report: No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming

Source: The Conversation (Au and NZ) – By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

Who’d want to be Reserve Bank Governor Michele Bullock? On Tuesday she had to do the almost impossible: defend a decision not to cut interest rates at a time when they were being cut in just about every other major industrial nation.

On Thursday the US Federal Reserve joined the Bank of England, the Bank of Canada, the Reserve Bank of New Zealand and central banks in China, Sweden and the European Union in what its officials expect to be a series of cuts, kicking off with a double-header: a cut of 0.50 percentage points instead of the usual 0.25.

In her press conference after Tuesday’s board meeting Governor Bullock said disinflation was “further advanced” in those countries than it was in Australia.

Australian interest rates were “restrictive” (high enough to hurt) but were working “broadly as anticipated”.

While household spending was weaker than had been expected, it would be

some time yet before inflation is sustainably in the target range.

But the problem with what she said, both after the meeting and in her statement, is inflation is probably already within the target range.

Credibility gap

The Reserve Bank’s target is 2-3%. Inflation hasn’t been there since it surged in 2021 as much of the world came out of lockdowns.

On Wednesday, the day after Bullock’s announcement, the Bureau of Statistics will release the monthly consumer price index for August. It’s expected to be the first to show inflation back between 2% and 3%.

Westpac is expecting an annual rate of 2.7%, comfortably back within the target band. When the more-comprehensive quarterly measure is released next month, Westpac is expecting 2.9%.

If inflation is 2.7%, how can it be too high?

Bullock squares her view that inflation is not yet moving sustainably towards the target with the reality that it is probably already there by saying she expects it to “pop back up again” when the temporary effect of electricity bill rebates wears off.

The Commonwealth government announced $3.5 billion worth of rebates in the May budget. They will be applied automatically to electricity bills for each of the next four quarters, and topped by several of the states. In Queensland, they amount to $1,300 per household.

A staged rollout means the rebates hit bills in only Queensland and West Australia in July and will hit other states in August. The Bureau of Statistics says they took 6.4% off the average national power price in July and Westpac expects them to take off a further 15% in August.

A permanent 10% increase in the maximum rate of Commonwealth rent assistance delivered last week will put further downward pressure on inflation.

It’s easy to see why Bullock thinks the temporary measures should be disregarded.

The RBA says what matters is underlying inflation

Bullock is directing attention to the Reserve Bank’s preferred measure of underlying inflation, a measure that excludes sharp movements and gives a better idea of where typical prices are heading.

At 3.9% for the year to the June quarter, she says that measure is still too high. But it has been falling for each of the past six quarters and is on track to fall to 3.5% in the September quarter. By my way of thinking, that shows inflation is moving “sustainably towards the target range” in the way she says she wants.

As in the US and the UK and New Zealand and all the other countries with which we compare ourselves, inflation doesn’t need to be actually back to the target before the authorities ease off on high interest rates. If they waited that long they would overshoot and push inflation too low.

But headline inflation matters in its own right

In any event, a low headline inflation rate is important in its own right, however it is achieved. It’s the rate the Reserve Bank prints at the top of its website, the rate that’s published in the media and the rate that people experience.

If inflation is actually low, however that is brought about, shoppers become less tolerant of price rises (something the Reserve Bank says is happening) and less keen to demand high wage rises (something that is also happening).

They also become less keen to rush out and buy things before their price goes up, something that can perpetuate high inflation.

Right now we are doing everything but rushing out to push up prices.

A briefing note prepared by the Australian Council of Social Service ahead of Tuesday’s Reserve Bank board meeting says real household disposable income per capita has fallen by almost 8% since inflation and interest rates began climbing, far more than in the US, the UK, Germany and Canada.

Bullock is about to get more chances to cut

There’s a chance the tax cuts that began in July will give spending a bit of a boost but much of whatever extra spending there is will be on imports, and the steadily climbing Australian dollar is making them cheaper by the day.

The Australian dollar hit a new high for the year of 68.5 US cents on Tuesday on the back of a widening differential between US and Australian interest rates as the US cuts rates.

Governor Bullock gets two more opportunities to cut rates this year, at the board meeting on Melbourne Cup Tuesday November 5 shortly after news of very low inflation in the September quarter, and on December 9 shortly after news of economic growth likely to show income per person going further backwards.

There’s a fair chance she will take one of them.

Peter Martin is Economics Editor of The Conversation.

– ref. No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming – https://theconversation.com/no-rba-rate-cut-yet-but-governor-bullock-is-about-to-find-the-pressure-overwhelming-239603

MIL OSI Analysis – EveningReport.nz –

September 29, 2024
MIL-OSI: RATP chooses Eviden’s embedded TETRA radio services solutions to equip its metro trains and tramways
Source: GlobeNewswire (MIL-OSI)

Press Release

RATP chooses Eviden’s embedded TETRA radio services solutions

to equip its metro trains and tramways

InnoTrans, Berlin, Germany and Paris, France – September 24, 2024 – Eviden, the Atos Group business leading in digital, cloud, big data and security today announces it has won RATP¹’s tender to equip its MP14 and new MF19 metro trains and also the TW20 tramways of the Parisian rail company with TETRA radio communication systems between the line’s Centralized Control Station and the various rolling stocks. The contract covers 132 radio equipments, with an option for 800 radio equipments over a maximum period of 8 years.

RATP is a long-standing Eviden partner. The company has already equipped its previous metro fleet with Eviden’s TETRA embedded radio technology. This time, the customer’s biggest challenge is to modernize its transport infrastructure network and extend certain lines with new rolling stock to safely accommodate more passengers. In concrete terms, the solution will play a pivotal role in modernizing RATP’s existing embedded radio systems, ensuring their long-term viability as they increasingly demand greater computing power for voice/data and safety/security services, while requiring minimal onboard space.

This project marks one of RATP’s final uses of this technology as the organization prepares for a significant technological overhaul of its metro fleet starting 2035. The MP14 and upcoming MF19 metro trains, as along with the TW20 tramways are being developed by Alstom, another key partner of Eviden.

Valérie Petat, Head of Industrial Systems and Services, Mission Critical Systems, at Eviden, Atos Group said “This new collaboration further underscores RATP’s long-standing trust in Eviden’s technology and expertise in the railway sector. We are confident that this partnership will strengthen our position as a preferred partner for RATP’s future major projects.”

The Eviden solution chosen by RATP includes the following range of embedded radio voice-data services:

– the MAV (Audio-Visual Means) system for automatic metro lines.
– the Radio driver Metro service for manual lines.
– the TETRA (TErrestrial Trunk Radio) Tramway service.

***

Note to editors:

TETRA: scalable and secured mobile radio system
The radios supplied are based on TETRA technology. TETRA is a digital trunked mobile radio standard developed to meet the needs of traditional Professional Mobile Radio (PMR) user organizations in terms of performance, availability, safety, and security. Its scalable architecture allows economic network deployments ranging from single site local area coverage to multiple site wide area national coverage.

About Eviden²

Eviden is a next-gen technology leader in data-driven, trusted and sustainable digital transformation with a strong portfolio of patented technologies. With worldwide leading positions in advanced computing, security, AI, cloud and digital platforms, it provides deep expertise for all industries in more than 47 countries. Bringing together 47,000 world-class talents, Eviden expands the possibilities of data and technology across the digital continuum, now and for generations to come. Eviden is an Atos Group company with an annual revenue of c. € 5 billion.

About Atos

Atos is a global leader in digital transformation with c. 92,000 employees and annual revenue of c. € 10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea), and listed on Euronext Paris.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Press contact

Zohra Dali – zohra.dali.external@eviden.com – +33 (0) 6 71 92 71 87

1 RATP: Régie Autonome des Transports Parisiens, is the French state-owned enterprise that operates public transport systems. It primarily serves the Paris metropolitan area and is responsible for the operation of most public transportation in the city.

2 Eviden business is operated through the following brands: AppCentrica, ATHEA, Cloudamize, Cloudreach, Cryptovision, DataSentics, Edifixio, Energy4U, Engage ESM, Evidian, Forensik, IDEAL GRP, In Fidem, Ipsotek, Maven Wave, Profit4SF, SEC Consult, Visual BI, Worldgrid, X-Perion. Eviden is a registered trademark.

Eviden is a registered trademark. © Eviden SAS, 2024.

Attachment
- RATP chooses Evidens embedded TETRA radio services solutions to equip its metro trains and tramways
The MIL Network –
September 29, 2024
MIL-OSI: Chemins de Fer Luxembourgeois (CFL) chooses Eviden to deploy end-to-end next generation railway mission-critical communication systems
Source: GlobeNewswire (MIL-OSI)

Press Release

Chemins de Fer Luxembourgeois (CFL) chooses Eviden to deploy end-to-end

next generation railway mission-critical communication systems

InnoTrans, Berlin, Germany and Paris, France, September 24, 2024 – Eviden, the Atos Group business leading in digital, cloud, big data and security today announces that Luxembourg National Railway Company (Chemins de Fer Luxembourgeois i.e. CFL), has chosen Eviden’s next generation railway critical communication solutions, to modernize its existing GSM-R command and control room network and maximize the safety and operational efficiency of its railway operations.

The solution will be fully operational by the end of 2026. This is one of the first commercial MCx projects in Europe deployed by a railway company, and a first step towards FRCMS (Future Railway Mobile Communication System), the future international wireless standard for railway communications and applications.

The solution chosen by CFL is based on an innovative, standardized 3GPP solution for railway enhancement. Eviden’s team of experts adapted this technology to CFL’s needs, ensuring that the MCx system interoperates with the PBX, Wi-Fi, 4G/5G MNOs and GSM-R. The solution integrates the Lifelink solution which includes the MCx application suite, cyber security, a voice recorder and a dispatching system.

CFL carried around 28,7 million passengers in 2023 and moved 2.303 million of tons-km last year. It employs more than 5.000 people, making it the country’s largest corporate employer in Luxemburg.

Lionel Toullier, Global Head of Critical Communication Solutions, Eviden, Atos Group said “Eviden was chosen because we were able to offer CFL an advanced end-to-end solution that modernizes their legacy dispatching system and integrates Eviden’s innovative MCx solutions. Further system upgrades are planned in the future, in line with the latest standards to ensure continued progress in rail safety for CFL.”

Mathieu Perrus, Infrastructure Engineering Department, Telecommunications Division, Société Nationale des Chemins de Fer Luxembourgeois, said “This project will enable us to reach a new milestone by becoming one of the first European railway companies to deploy a next-generation critical communication system (MCx). Our aim is to implement these solutions across all our national railroads, in line with evolving industry standards.”

***

About Eviden¹

Eviden is a next-gen technology leader in data-driven, trusted and sustainable digital transformation with a strong portfolio of patented technologies. With worldwide leading positions in advanced computing, security, AI, cloud and digital platforms, it provides deep expertise for all industries in more than 47 countries. Bringing together 47,000 world-class talents, Eviden expands the possibilities of data and technology across the digital continuum, now and for generations to come. Eviden is an Atos Group company with an annual revenue of c. € 5 billion.

About Atos

Atos is a global leader in digital transformation with 92,000 employees and annual revenue of c. € 10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea), and listed on Euronext Paris.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Press contact

Zohra Dali – zohra.dali.external@eviden.com – +33 (0) 6 71 92 71 87

1 Eviden business is operated through the following brands: AppCentrica, ATHEA, Cloudamize, Cloudreach, Cryptovision, DataSentics, Edifixio, Energy4U, Engage ESM, Evidian, Forensik, IDEAL GRP, In Fidem, Ipsotek, Maven Wave, Profit4SF, SEC Consult, Visual BI, Worldgrid, X-Perion. Eviden is a registered trademark.

Eviden is a registered trademark. © Eviden SAS, 2024.

Attachment
- Chemins de Fer Luxembourgeois (CFL) chooses Eviden to deploy end-to-end next generation railway mission-critical communication systems (01)_
The MIL Network –
September 29, 2024
MIL-OSI Submissions: Economy – Gebrüder Weiss opens second location in Greater Bucharest

Source: Gebrüder Weiss

New terminal in Popesti-Leordeni to optimize the delivery of goods in the metropolitan area / Logistics expert celebrates 30-year anniversary in Romania / 700 employees at 13 locations handle 1.1 million consignments per year

Bucharest / Lauterach, September 24, 2024. The international transport and logistics company Gebrüder Weiss has expanded its location network in Romania. South-east of Bucharest, in Popesti-Leordeni, the logistics provider has officially launched operations at a new terminal, following a major investment of 20 million euros.

“The second location complements our existing facility west of the capital in Bolintin-Deal, thus facilitating an even more efficient distribution of goods in the metropolitan area. In this way, we offer first-rate conditions to provide even better logistics support to Romania’s emerging economy,” affirms Wolfram Senger-Weiss, CEO of Gebrüder Weiss.

The modern terminal has an area of around 19,000 square meters for warehouse logistics, transshipment, administration, and favorable transport connections to the Black Sea port of Constanta and neighboring Bulgaria. It is equipped with heat pumps, and the installation of a photovoltaic (PV) system is under consideration for the future, along with charging stations for electric vehicles. One of the location’s customers is an international paint manufacturer, for whom Gebrüder Weiss stores 12,000 pallets for distribution across the country.

“The increasing traffic load in the capital requires a two-terminal solution enabling us to supply the metropolitan area from two geographic directions, thus making the distribution of goods more efficient,” Country Manager Viorel Leca explains. In the first six months of 2024, the new hub handled 78,000 shipments with a total weight of more than 35,000 tons. “In light of our current warehouse occupancy rate of 70%, we are planning to expand our client portfolio in the near future. The purchased land, with a total area of 70,000 square meters, allows us to build additional storage and cross-dock spaces, depending on future projects”, Viorel Leca added.

30th anniversary of Gebrüder Weiss Romania

The opening of the new terminal coincides with Gebrüder Weiss celebrating the thirtieth anniversary of its entry into the market in Romania. Gebrüder Weiss operates a comprehensive network of 13 locations across the country’s key economic regions.

“Over the past 30 years, Romania’s economic development has been impressive, and the country has become a sought-after manufacturing location. We are going to support the growth of industry and commerce in Romania with our logistics know-how into the future,” says Thomas Moser, Director and Regional Manager Black Sea/CIS at Gebrüder Weiss.

In the past year, 700 employees handled some 1.1 million shipments. Customers include international companies in the automotive, technology, and consumer goods sectors. From its Romanian locations, the logistics provider operates transports by truck to Germany, France, Hungary, and the Czech Republic and handles air and sea freight transports to destinations all over the world.

About Gebrüder Weiss

Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,600 employees at 180 company-owned locations. The company generated revenues of 2.46 billion euros in 2023. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

MIL OSI – Submitted News –

September 29, 2024
MIL-OSI United Kingdom: Global Partnership for Action on Gender-Based Online Harassment and Abuse calls for urgent action on countering gendered disinformation
Source: United Kingdom – Executive Government & Departments

The governments of Australia, Chile, Denmark, France, Iceland, the Republic of Korea, Spain, Sweden, New Zealand, the UK and the USA gave this joint statement.
Joint statement from the governments of Australia, Chile, Denmark, France, Iceland, the Republic of Korea, Spain, Sweden, New Zealand, the United Kingdom and the United States of America:

The undersigned country members of the Global Partnership for Action on Gender-Based Online Harassment and Abuse (Global Partnership) call attention to the urgent need to counter the spread of gendered disinformation and address all forms of technology-facilitated gender-based violence (TFGBV) against women in political and public life.

Gendered disinformation is a threat to societies defending peaceful, democratic values. False or misleading gender and sex-based narratives are being used in campaigns by malign actors to deter and discredit the participation of women, girls and LGBTQI+ persons in political and public life. This not only causes deep harm to the individuals targeted, but also threatens electoral integrity, access to information and the exercise of freedom of expression. At the same time, new and emerging technologies are being used to enable harmful, violent rhetoric and attacks against women, girls and LGBTQI+ public figures across borders at a scale and speed previously unseen.

In our 2023 Road Map, the Global Partnership committed to promoting the meaningful participation in public life for women and girls, in all their diversity, by countering TFGBV and gendered disinformation.

We welcome the work being done to shine a light on how and why gendered disinformation is conceived, who it targets and how it is spread. Last year, in a groundbreaking study, Canada, the European External Action Service, Germany, Slovakia, the United Kingdom, and the United States jointly assessed the tactics used by foreign state and non-state actors to sow gendered and other identity-based disinformation across the world.

In March 2024 the Global Partnership and members of its Advisory Group co-hosted a multi-stakeholder conference convened by the National Democratic Institute on possible responses (PDF, 2.1 MB) to countering the spread of gendered disinformation in the context of electoral processes. Stakeholders affirmed the need for a comprehensive response to disrupt the spread of gendered disinformation and to support victims and survivors.

The world is at a critical moment for upholding democracy. More than 100 countries have held, or are soon to be holding elections, many of them taking place under democratically challenging circumstances. The active participation of all people, including women, girls and LGBTQI+ persons, is essential for secure, healthy and prosperous democracies.

We call upon states to join us in recognising and taking action to counter the threat of gendered disinformation to democracies globally. We urge technology and other private companies to take appropriate action to respond to this threat, including a commitment to a Safety-by-Design approach to the development and deployment of platforms and technologies. We ask states and all stakeholders to defend and protect the ability of women, girls and LGBTQI+ persons to participate in public life freely, safely and without fear.

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Published 24 September 2024
MIL OSI United Kingdom –
September 29, 2024
MIL-OSI Germany: Invitation to bid by auction – Reopening 7-year Federal bond

Source: Deutsche Bundesbank in English

A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.

MIL OSI

MIL OSI German News –

September 29, 2024
MIL-OSI Banking: Joachim Nagel: Why do we need Europe?

Source: Bank for International Settlements

Check against delivery

1 Global challenges need global answers

We are living in a period of significant change. Many distinct forces are contributing to this change. Examples here include global warming and the switch towards carbon-free energy, progress in digitalisation and AI, as well as geo-economic factors and demographic developments.

What do all the changes I’ve mentioned have in common? They affect humanity at the global level. It therefore does not seem useful to limit one’s attention to national solutions. That said, the European elections have shown us that many voters backed parties calling for greater national sovereignty or even nationalism – as well as less Europe. The Brexit referendum, eight years ago, can be seen as an example of this trend. As, too, can the recent German regional elections.

Why is this? Global changes often lead to global challenges, and sometimes to global crises. This means a lot of complexity. Those who are in charge are responsible for properly explaining this complexity. If we don’t assume this responsibility, simple political messages may trump complex ones. And there is no doubt that politics at the European level are complex. Just think of the legislative process behind the new Corporate Sustainability Due Diligence Directive – a directive that sets rules for firms to mitigate their negative impact on human rights and the environment. Or the slow progress that has been made regarding the capital markets union – a topic I will return to later.

However, as the current major challenges are global in nature, national responses alone will not resolve them. Action is needed on a global scale. Take the pandemic, for example. Overcoming this required unprecedented vaccine research, large-scale production and global distribution. Or consider the climate crisis. While Germany can lead by example in terms of decarbonising its economy, it cannot solve the climate crisis alone. As for European countries, this means that we have to work on European responses to the current challenges. This holds true for Germany, too – despite it being one of the largest economies in the world. Germany should see itself as part of a wider European team – a team that can provide greater stability given the current geopolitical risks. Take the increasing global trade restrictions, for example. Between the two main global players, the United States and China, only a unified European approach stands a chance of defending European interests. This view is shared by almost three-quarters of Europeans surveyed at the beginning of this year.¹

2 Europe is not a weak spot – it is a source of strength

It is true that open democratic societies tend to have complex and cumbersome decision-making processes. The more fragmented the political landscape, the more difficult it becomes. This already holds for the national level – as can currently be seen in the case of France and Germany. At the European level, complexity is even greater. There, agreeing on a compromise is like an art in itself. However, democratic decision-making processes have one great benefit. They integrate the diverse interests and preferences of the people.

In fact, a significant majority of EU citizens are satisfied with the way democracy works in the EU.² And the share of people who have a positive image of Europe is nearly twice as big as the share of people who have a negative one.³ This might well reflect an observation made by the Spanish philosopher José Ortega y Gasset at the beginning of the last century. He noted that four-fifths of our intellectual property stem from our common European heritage.⁴ People seem to have a good understanding of what “European” means: the common ground of our liberal, democratic societies and the intellectual achievements we have made.

Once we realise these strengths of Europe, we can use them to move forward, to manage the changes I mentioned at the outset of my speech. Europe does not have an analytical deficit, but a deficit in taking action. For example: A deeper single market could help seize the opportunities of digitalisation more fully. And a unified European approach to decarbonisation could serve as an example and help the formation of larger climate clubs. These clubs derive mutual benefits from sharing the costs of producing less CO2-emissions. The members of such a voluntary club have incentives to adhere to its rules as long as the gains from the club are sufficiently large.⁵

3 What it will take to move forward

And what will it take to move forward? As President of the Bundesbank and as a member of the Governing Council of the European Central Bank, I am doing all I can within my remit. First and foremost, I am striving to restore price stability. This is because price stability is a crucial requirement for economic development and for the welfare of our societies. And I am also supporting measures that help Europe to act. It is in this context that I return to the topic of the capital markets union. The capital markets union can be an important means of providing companies with the necessary funding to manage change. This includes funding for new scientific knowledge and for innovations to help us thrive in our future environment. Europe is relatively good at research.⁶ And research is a crucial basis for innovation. However, a lack of available capital often prevents young innovative companies from growing. A key reason is that capital markets in Europe are still highly fragmented and rather underdeveloped compared to those in the United States, for example. Although market structures are not fully comparable, venture capital investment may serve as an example here. Relative to GDP, its size in European countries is less than one-tenth the size in the US.⁷ A European capital markets union would give firms better access to risk capital in Europe – notably young firms in their start-up and scale-up phase, and it would provide better exit options. By mobilising more private capital, the capital markets union could improve opportunities for economic growth. And it could foster much needed investments in Europe’s digital and sustainability transformation.

It is a real challenge to make progress at the European level and in the 27 Member States on the legal initiatives necessary to realise the capital markets union. But if we agree that the changes we see are global in nature, then we should not try to deal with them at the national level. We should strive for multilateral solutions. Here in Europe, the European Union provides a wonderful opportunity to find common approaches that many around the world can subsequently gather behind.

I am optimistic that the new European Commission will build momentum to move forward – not least with respect to the capital markets union, which was recently given fresh impetus by Member States’ political leaders. We have the potential to rejuvenate the European idea. A thriving research and innovation ecosystem will support that goal – with stable prices, sufficient financing opportunities and steady growth. Let us all do what we can to strengthen Europe at the current juncture.

MIL OSI Global Banks –

September 29, 2024
MIL-OSI Submissions: Tech Security – Study: Global online privacy and cybersecurity awareness continues to decline

Source: NordVPN

The most cybersecurity-aware country this year is Singapore.
People ages 30-54 have the best cybersecurity skills.
Only 6% of people globally know what privacy issues to consider when using AI for work.

The world’s online privacy and cybersecurity awareness continues to decline, according to new research by the cybersecurity company NordVPN. Based on 31 analyzed markets with the highest numbers of responses, people globally knew best how to create strong passwords (96%), and they were worst with questions related to privacy issues that go hand in hand with AI usage for work (52%).

The annual National Privacy Test (NPT) is a global survey aimed to evaluate people’s cybersecurity, online privacy awareness, and educate the general public about cyber threats and the importance of data and information security in the digital age. It gathered 25,567 responses from 181 countries this year.

“As the digital threat landscape evolves faster than ever, it is important that internet users understand the significance of safeguarding their personal information. The National Privacy Test takes the responsibility to educate people globally about cyber threats and equip them with essential tips to protect against fraud, data harvesting, surveillance, and other online dangers,” says Marijus Briedis, chief technology officer (CTO) at NordVPN.

These countries rank in the top three for internet privacy and cybersecurity awareness:

Singapore (62/100)
Finland and Lithuania (61/100)
Germany and the United States (60/100)

Compared to 2023, less people understand the security benefits of updating apps

The results of the test showed that people globally are also good at dealing with suspicious streaming service offers (95%), and they know which permissions to grant to different apps (91%).

On the other hand, people globally also did not know what data ISPs collect as part of the metadata (13%), or how to secure their home Wi-Fi network (16%), most likely considering it safe by default.

Among all respondents, 1% are Cyber Wanderers (barely know anything about internet privacy and cybersecurity), while the biggest proportion (66%) scored 50-74 points and were identified as Cyber Adventurers.

Compared to 2023, less people understand the security benefits of updating apps as soon as the update is available. While in 2023, 69% said they update an app as soon as an update is available, this year, it’s 56%.

Steps to increase online security and privacy

Marijus Briedis from NordVPN shares a series of steps people can take to enhance their online privacy and security:

Create unique and strong passwords. Use unique and robust passwords for each of your online accounts.
Enable multi-factor authentication (MFA). Strengthen your account security by enabling multi-factor authentication.
Keep your software up to date. Regularly update your software, operating systems, and applications.
Use a virtual private network (VPN). Always use a VPN to encrypt your internet connection, safeguarding your personal information from potential eavesdroppers.
Review privacy settings. Regularly review and adjust privacy settings on social media platforms, mobile apps, and other online services.

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MIL OSI – Submitted News –

September 29, 2024
MIL-OSI Submissions: Universities – New fossil fish species scales up evidence of Earth’s evolutionary march – Flinders

Source: Flinders University

Climate change and asteroids are linked with animal origin and extinction – and plate tectonics also seems to play a key evolutionary role, ‘groundbreaking’ new fossil research reveals.

The discovery of an exceptionally well preserved ancient primitive Devonian coelacanth fish in remote Western Australia has been linked to a period of heightened tectonic activity, or movement in the Earth’s crust, according to the new study in Nature Communications. (Open access when published)

Led by Flinders University and experts from Canada, Australia and Europe, the new fossil from the Gogo Formation in WA, named Ngamugawi wirngarri, also helps to fill in an important transition period in coelacanth history, between the most primitive forms and other more ‘anatomically-modern’ forms.

“We are thrilled to work with people of the Mimbi community to grace this beautiful new fish with the first name taken from the Gooniyandi language,” says first author Dr Alice Clement, an evolutionary biologist and palaeontologist from Flinders University.

“Our analyses found that tectonic plate activity had a profound influence on rates of coelacanth evolution. Namely that new species of coelacanth were more likely to evolve during periods of heightened tectonic activity as new habitats were divided and created,” she says.

The study confirms the Late Devonian Gogo Formation as one of the richest and best-preserved assemblages of fossil fishes and invertebrates on Earth.

Flinders University Strategic Professor of Palaeontology John Long says the fossil, dating from the Devonian Period (359-419 million years ago), “provides us with some great insight into the early anatomy of this lineage that eventually led to humans”.

“For more than 35 years, we have found several perfectly preserved 3D fish fossils from Gogo sites which have yielded many significant discoveries, including mineralised soft tissues and the origins of complex sexual reproduction in vertebrates,” says Professor Long.

“Our study of this new species led us to analyse the evolutionary history of all known coelacanths.”

Many parts of human anatomy originated in the Early Palaeozoic (540-350 million years ago). This was when jaws, teeth, paired appendages, ossified brain-cases, intromittent genital organs, chambered hearts and paired lungs all appeared in early fishes.

“While now covered in dry rocky outcrops, the Gogo Formation on Gooniyandi Country in the Kimberley region of northern Western Australia was part of an ancient tropical reef teeming with more than 50 species of fish about 380 million years ago.

“We calculated the rates of evolution across their 410 million-year history. This revealed that coelacanth evolution has slowed down drastically since the time of the dinosaurs, but with a few intriguing exceptions.”

Today, the coelacanth is a fascinating deep-sea fish that lives off the coasts of eastern Africa and Indonesia and can reach up to 2m in length. They are “lobe-finned” fish, which means they have robust bones in their fins not too dissimilar to the bones in our own arms, and are thus considered to be more closely related to lungfish and tetrapods (the back-boned animals with arms and legs such as frogs, emus and mice) than most other fishes.

Over the past 410 million years, more than more than 175 species of coelacanths have been discovered across the globe. During the Mesozoic Era, the age of dinosaurs, coelacanths diversified significantly, with some species developing unusual body shapes. However, at the end of the Cretaceous Period, around 66 million years ago, they mysteriously disappeared from the fossil record.

The end Cretaceous extinction, sparked by the impact from a massive asteroid, wiped out approximately 75% of all life on Earth, including all of the non-avian (bird-like) dinosaurs. Thus, it was presumed that the coelacanth fishes had been swept up as a casualty of the same mass extinction event.

But in 1938, people fishing off South Africa pulled up a large mysterious looking fish from the ocean depths, with the ‘lazarus’ fish going on to gain cult status in the world of biological evolution.

Another senior co-author, vertebrate palaeontologist Professor Richard Cloutier, from the University of Quebec in Rimouski (UQAR), says the new Nature Communications study challenges the idea that surviving coelacanths are the oldest ‘living fossils’.

“They first appear in the geological record more than 410 million years ago, with fragmentary fossils known from places like China and Australia. However, most of the early forms remain poorly known, making Ngamugawi wirngarri the best known Devonian coealacanth.

“As we slowly fill in the gaps, we can start to understand how living coelacanth species ofLatimeria, which commonly are considered to be ‘living fossils,’ actually are continuing to evolve and might not deserve such an enigmatic title,” says Professor Cloutier, a previous honorary visiting scholar at Flinders University.

The study’s coauthors have affiliations with Mahasarakham University in Thailand, the South Australian Museum, Max Planck Institute for Evolutionary Anthropology in Germany, University of Bristol, Curtin University in Western Australia and the WA Museum.

The article, ‘A Late Devonian coelacanth reconfigures actinistian phylogeny, disparity, and evolutionary dynamics’ (2024) by Alice M Clement, Richard Cloutier, Michael SY Lee, Benedict King, Olivia Vanhaesebroucke, Corey JA Bradshaw, Hugo Dutel, Kate Trinajstic and John A Long has been published in Nature Communications. DOI: 10.1038/s41467-024-51238-4.

https://doi.org/10.1038/s41467-024-51238-4

MIL OSI – Submitted News –

September 29, 2024
MIL-OSI Submissions: Business and Tech – 25 Disruptive Technology Startups Join Morgan Stanley Inclusive Ventures Lab’s 10th Cohort
Source: Morgan Stanley

Tenth Lab cohort includes 25 disruptive technology and technology-enabled startups from the Americas and EMEA

Five-month accelerator program to provide founders with $250,000 (£250,000) investment, as well as mentorship and business-growth resources

117 companies have participated in the Lab to date.

Morgan Stanley (NYSE: MS) today announced the 2024 global cohort of the Inclusive Ventures Lab, with 25 companies selected from the Americas and Europe, the Middle East and Africa (EMEA). Over the next five months, the companies will participate in an in-house accelerator program designed to further develop and scale technology and technology-enabled startups in the seed to Series A funding round stage.

Chosen from thousands of applications, the 25 startups represent a range of disruptive technologies across industries such as Climate Tech, Retail, Healthcare, FinTech, SaaS, Enterprise Software, Consumer and Travel – with many incorporating AI and sustainability into their products and services. Cohort companies will receive a $250,000 investment (£250,000 in EMEA) from Morgan Stanley, as well as a variety of mentorship opportunities, a tailored entrepreneurship curriculum and business-growth resources from the firm’s ecosystem of internal and external partners.

“In today’s challenging venture capital environment, we are proud to welcome our largest cohort of groundbreaking startups to the Inclusive Ventures Lab and are eager to support them as they scale their innovations and work to build a better world,” said Selma Bueno, Global Head of the Morgan Stanley Inclusive Ventures Group. “Each year since the Inclusive Ventures Lab’s launch in 2017, we have expanded our efforts to ensure that more entrepreneurs around the world can succeed – and this year is no different.”

The companies selected to participate in the 2024 cohort include the following:

Agri-Trak digitizes small farm operations with a smart platform for real-time labor, crop yield and cost tracking to optimize productivity, sustainability and profitability (US)

Beta Financial provides a transparent and comprehensive small business credit scoring solution, fostering financial inclusion and access to capital through innovative AI-driven technology (US)

Blip Energy is building a drop-in distributed energy resource to mitigate surging peak demand, optimize energy costs for users and reduce operating costs for utilities (US)

Compare Ethics is an AI-powered sustainability compliance platform that reduces costs by helping retail brands simplify, streamline and scale the way they make accurate green claims (UK)

Darent is a vacation rental marketplace platform in Saudi Arabia for travelers to search for properties with a focus on local experiences, a secure payment system and property insurance for hosts (Saudi Arabia)

For The Creators is an omni-channel circular fashion marketplace where women can rent and buy high-quality clothing for each stage of motherhood (UK)

GroceryList is a marketplace connecting immigrants worldwide with local merchants across Latin America and the Caribbean, enabling them to purchase groceries and essentials for their loved ones back home (US)

HANX is a consumer platform bringing together medically designed women’s reproductive health products, prescription treatments and community-focused content (UK)

Hire Ground is a B2B software platform that enables enterprise buyers to source and manage third party vendors while optimizing their procurement process (US)

Infinite Giving is a fintech platform that enables nonprofits to raise money, manage their cash reserves, and conservatively invest and grow (US)

Juniver is a health company leveraging AI technology to provide personalized digital interventions for lasting eating disorder recovery (UK)

KSI Vision uses existing AI on store and shopping center security cameras to generate real-time customer data and increase sales conversion (Uruguay)

Mavity is an AI-powered operating system for design and marketing teams that connects companies with on-demand creatives to streamline asset creation (US)

MyARC is a platform that enables fitness content creators to train their fans at scale (UK)

NÜWIEL provides electric mobility solutions for the cities of today and tomorrow (Germany)

OVUM is a one-stop shop for fertility wellness, providing educational resources, products and services for improving fertility outcomes (UK)

Research Grid is an automation engine for admin-free clinical trials (UK)

Revere is reinventing how allocators manage their alternative asset portfolios through AI, workflow automation tools and custom reporting (US)

Route is a platform of business management tools for commercial cleaning companies to automate sales, streamline operations, build contractor relationships and connect the entire cleaning industry (US)

Sanarai connects the Latino community to mental health professionals in Latin America and the US to offer culturally sensitive, Spanish-language emotional support at accessible prices (US)

Soralink leverages AI and smart sensors to assist manufacturers in preventing critical machine failures (Canada)

Sortile provides the textile industry with a system that enables the identification, traceability and recycling of textiles (US)

SWYE360 Learning is a data analytics company that uses machine learning and AI in education to measure software efficacy and detect students at risk of dropping out (US)

Tendo Technologies addresses the challenges faced by aspiring online retail entrepreneurs in Africa by connecting independent resellers to suppliers (Ghana)

Zest Equity is digitizing private market transactions, building tools to streamline and ensure greater transparency in how entrepreneurs, funds and investors transact (UAE).

Programming will culminate in February 2025 with a global Demo Day, when participating companies will present to potential investors, business partners and customers. The investment firms in attendance at the last showcase represented over $40 billion of dry powder and indicated a high level of interest following the event.

About the Morgan Stanley Inclusive Ventures Lab
The Morgan Stanley Inclusive Ventures Lab (MSIVL) is an intensive five-month in-house accelerator program designed to help further develop and scale startups, culminating in a showcase presentation and Demo Day to the investor community. Morgan Stanley launched MSIVL, formerly called the Multicultural Innovation Lab, in 2017 in order to address inequities in funding of startup founders, which our research shows equals over four trillion dollars in unrealized returns.

About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
MIL OSI – Submitted News –
September 29, 2024

MIL-OSI: QUADIENT: H1 2024 results: Solid 3.2% reported revenue growth and sharp improvement in profitability from Digital

Source: GlobeNewswire (MIL-OSI)

H1 2024 results: Solid 3.2% reported revenue growth
and sharp improvement in profitability from Digital

Key highlights

H1 2024 consolidated sales of €534 million, up +3.2% on a reported basis including the contribution of the latest acquisitions (Daylight and Frama) and up +0.8% organically⁽¹⁾
H1 2024 subscription-related revenue up +0.7% on an organic basis, representing 72% of total revenue
Strong performance from North America at +2.8% organic growth in H1 2024, representing 58% of Group Sales
H1 2024 EBITDA of €111 million, up 2.6% organically, primarily driven by a strong increase in profitability in Digital
H1 2024 Group current EBIT of €61 million, up 0.3% organically
Net attributable income of €24 million
Leverage ratio excluding leasing reduced to 1.6x²
FY 2024 outlook confirmed
Launch of share buyback program for up to €30 million

Paris, 23 September 2024

Quadient S.A. (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, , today announces its 2024 second-quarter consolidated sales and first half results (period ended on 31 July 2024). The first-half 2024 results were approved by the Board of Directors during a meeting held on 20 September 2024.

Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated:

“Quadient achieved a solid performance in the first half of 2024, setting a good start to the execution of our new strategic plan, ‘Elevate to 2030’, which aims at delivery €1 billion of subscription-related revenue by 2030. The various modules of our SaaS communication and financial automation platform are further recognized for their technical specificities as well as for their ease of use, reflecting our strong customer centric approach. Our highly recurring business model continues to be fueled by good results in both cross-selling and up-selling our solutions, by the strong outperformance of our Mail business as well as by a solid volume increase within our European parcel lockers open networks.

In parallel, the profitability of our Digital business has sharply increased. Indeed, our Digital EBITDA margin gained 6 points compared to the first half of 2023, demonstrating our commitment to strengthen our investment proposition. Confident in our value-creation potential and in our capacity to achieve our short- and long-term guidance, including our 2026 leverage target, we are announcing today a share buy-back program aimed at improving the return to our shareholders. More than ever, our objective is to accelerate our existing growth trajectory and propel Quadient as the leader in intelligent automation.”

Comments on H1 2024 performance

Group sales came in at €534 million in H1 2024, a 3.2% increase on a reported basis, and 0.8% organic growth compared to H1 2023 in line with Quadient’s expectations. The reported growth includes a positive currency impact of €1 million and a positive scope effect of €12 million, which is related to the acquisition of Daylight in September 2023 and to the acquisition of Frama in February 2024. In Q2 2024, organic revenue growth reached 0.6% compared to Q2 2023.

Consolidated sales and EBITDA by solution

H1 2024 consolidated sales

In € million	H1 2024	H1 2023 restated^(a)	Change	Organic change
Digital	130	120	+8.3%	+5.9%
Mail	362	353	+2.5%	(0.5)%
Lockers	43	45	(4.7)%	(2.5)%
Group total	534	517	+3.2%	+0.8%
(a) The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months. As this was the case in the full-year 2023 statements, H1 2023 revenue from the aforementioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

EBITDA and EBITDA margin

	H1 2024		H1 2023 restated ^(a)
In € million	EBITDA	EBITDA margin	EBITDA	EBITDA margin
Digital	20	15.7%	11	9.3%
Mail	94	25.8%	102	29.0%
Lockers	(3)	(6.7)%	(1)	(3.0)%
Group total	111	20.8%	112	21.7%
(a) The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months. As this was the case in the full-year 2023 statements, H1 2023 EBITDA from the aforementioned subsidiary is not represented in the consolidated EBITDA of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

Digital

In H1 2024, revenue from Digital reached €130 million, up 5.9% organically (+5.8% in Q2 2024 vs. Q2 2023) and up 8.3% on a reported basis (including the contribution from Daylight) compared to H1 2023. Importantly, growth for the Solution was still impacted by the delay in the implementation of two large contracts, announced in Q3 2023.

At the end of H1 2024, annual recurring revenue (ARR), which is a forward-looking indicator of future subscription-related revenue, reached €221 million, up from €206 million at the end of FY 2023, representing a 15.3% organic⁽³⁾growth on an annualized basis.

In H1 2024, subscription-related revenue recorded a strong 8.7% organic growth, now representing 82% of Digital total sales, a further increase compared to 80% in H1 2023. The share of SaaS customers stands at 83% at the end of H1 2024.

EBITDA for Digital was €20 million for the period, representing a 15.7% EBITDA margin, up 6.4 points compared to H1 2023. Strong improvement in profitability continues, supported by the combination of subscription-related revenue growth, and platform size benefits, despite further commercial and innovation investments. The profitability is expected to continue improving in FY 2024.

As part of the customer acquisition focus, Digital continues to experience strong commercial dynamics, supported by solid cross-selling with Mail including some large deals (notably one deal above USD1 million) in North America. Digital is benefiting from a positive start to Q3 2024 thanks to a new large deal with a US insurance company worth more than USD7 million over 5 years. Regarding the upcoming e-invoicing regulation in Europe, Quadient is now officially registered as a Partner Dematerialization Platform in France.

As part of the customer expansion process, the onboarding of all eligible customers on the Quadient Hub is now completed. Focus continues on further increasing up-selling. New partnerships, notably with Microsoft business central, Sage200 (ERP solutions) and Stripe (payment solution), have also been signed. Lastly, the churn rate in Digital continues to decline, now standing well below 5%.

Mail

Mail revenue reached €362 million in H1 2024, down only 0.5% on an organic basis (-0.8% in Q2 2024 vs. Q2 2023). The reported growth stood at +2.5%, including the contribution of Frama.

Hardware sales recorded a 4.8% organic growth in H1 2024, with strong contributions from North America, including a positive impact from decertification. The focus on investing into renewing the products offering continues to support product placements, as seen in the further increase in the share of the upgraded installed base, reaching 36.6% at the end of H1 2024 vs. 31.5% at the end of FY 2023.

Subscription-related revenue (68% of Mail sales) recorded a limited 2.8% organic decline in H1 2024.

EBITDA for Mail was €94 million for H1 2024. EBITDA margin reached 25.8%, down 3.2 points compared to H1 2023. The level of EBITDA margin of Mail was impacted by the higher proportion of revenue from equipment sales as well as by the dilution due to Frama acquisition, which performance is expected to improve significantly from 2025.

Thanks to its strong customer acquisition focus, Quadient’s Mail business continues to outperform the market. The commercial performance is expected to be resilient in Q3 2024. On the acquisition side, the aim is to upgrade the installed base.

As part of the customer expansion focus, the cross-selling remains solid, especially in the US, with several large contracts signed. Lastly, Mail benefited from the positive impact of the ongoing US mailing systems decertification.

Lockers

Lockers revenue reached €43 million in H1 2024, a 2.5% decrease on an organic basis (-1.8% in Q2 2024 vs Q2 2023) and a 4.7% decrease on a reported basis compared to H1 2023.

Subscription-related revenue was up 5.3% organically in H1 2024, benefiting from the solid volumes ramp up within the UK and the French open networks, as well as the contribution of the existing installed base, supported by the higher number of carriers committed to use Quadient’s open networks. However, change in commercial agreements with Yamato in Japan in Q3 2023 leading to a greater focus on usage as opposed to a rental-based model, continues for now to weigh on the subscription-related revenue. Overall, subscription-related revenue stood at 65% of total revenue in H1 2024, up from 61% in H1 2023.

Non-recurring revenue (license & hardware sales and professional services) were down 15.1% organically in H1 2024. Hardware sales were still impacted by slower new installations in North America.

Quadient’s global locker installed base reached c.21,400 units at the end of H1 2024 vs. c.20,200 units at the end of FY 2023. This is reflecting an acceleration in the pace of installation of new lockers, notably in the UK, fueled by the partnerships signed by Quadient to host parcel lockers in new suitable locations.

EBITDA for Lockers was negative at €(3) million in H1 2024. EBITDA margin stood at (6.7)%, down by 3.7 points. The decrease in EBITDA margin was mainly due to the negative impact from the change in commercial agreement with Yamato for the Japanese installed base at the start of H2 2023.

As part of the customer acquisition focus, Quadient is accelerating the installation pace for lockers in the open networks in Europe, mostly in France and in the UK. This is supported by the additional deals signed for premium locations and conversion of existing lockers. Conversely, the trend remains slow in North America.

As part of the customer expansion focus, volume increased strongly from both pick-up and drop-off in the open networks. The lockers business is also fueled by innovation in usage offerings, notably with new partnership with KeyNest in the United Kingdom, bringing additional volumes into the open network.

REVIEW OF 2024 FIRST HALF-YEAR RESULTS

Simplified P&L

In € million	H1 2024	H1 2023 restated ^(a)	Change
Sales	534	517	+3.2%
Gross profit	399	387	+3.2%
Gross margin	74.4%	74.8%
EBITDA	111	112	(1.1)%
EBITDA margin	20.8%	21.7%
Current EBIT	61	65	(6.0)%
Current EBIT margin	11.5%	12.6%
Optimization expenses and other operating income & expenses	(16)	(6)	n/a
EBIT	45	59	(24.4)%
Financial income/(expense)	(21)	(16)	+32.3%
Income before tax	24	43	(45.4)%
Income taxes	2	(6)	n/a
Net income of continued operations	26	37	(31.0)%
Net income from discontinued operations	(1)	(0)	n/a
Net attributable income	24	36	(32.8)%
Earnings per share	0.71	1.05	n/a
Diluted earnings per share	0.71	1.05	n/a
(a) The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months. As this was the case in the full-year 2023 statements, H1 2023 contribution from the aforementioned subsidiary is not represented in the consolidated P&L of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

Gross margin stood at 74.4% in H1 2024 from 74.8% in H1 2023, due to slightly higher cost of sales and the impact of Frama integration.

EBITDA⁽⁴⁾ for the Group reached €111 million in H1 2024, almost flat compared to H1 2023. Organically, the EBITDA grew by 2.6%, thanks to a solid increase at Digital offsetting a weaker EBITDA performance in Mail. EBITDA margin stood at 20.8% in H1 2024, vs 21.7% in H1 2023.

Depreciation and amortization stood at €50 million in H1 2024, compared to €47 million in H1 2023. This is mainly due to slightly higher amortization of Lockers’ capex for rent.

Current operating income (current EBIT) reached €61 million in H1 2024 compared to €65 million in H1 2023, down 6.0% on a reported basis and up 0.3% on an organic basis. Current operating margin stood at 11.5% of sales in H1 2024 compared to 12.6% in H1 2023.

Optimization costs and other operating expenses stood at €16 million in H1 2024, versus €6 million in H1 2023 which was impacted by the write-off of an IT project and additional office optimization in the United States and the United Kingdom.

Consequently, EBIT reached €45 million in H1 2024, versus €59 million recorded in H1 2023.

Net attributable income

Net cost of debt was up year-on-year at €20 million, against €15 million in H1 2023, impacted by higher interest rates on the variable portion of the debt (one third of Quadient’s debt). The currency gains & losses and other financial items was a loss of €(1) million in H1 2024, stable vs. H1 2023. Overall, net financial result was a loss of €21 million in H1 2024 compared to a loss of €16 million in H1 2023.

Income tax reached a €2 million profit in H1 2024, benefitting from the positive impact of internal IP transfers. It compares to an expense of €6 million in H1 2023.

Net income from discontinued operations of the Mail Italian subsidiary amounts to €(1) million, including additional fees related to the ongoing sale process for this subsidiary.

Net attributable income after minority interest amounted to €24 million in H1 2024 compared to €36 million in H1 2023.

Earnings per share from continued operations came in at €0.74 in H1 2024 compared to €1.06 in H1 2023. The fully diluted earnings per share⁽⁵⁾ was €1.05 in H1 2023.

Earnings per share stood at €0.71 in H1 2024 compared to €1.05 in H1 2023. The fully diluted earnings per share⁽⁵⁾ was €0.71 in H1 2024 compared to €1.05 in H1 2023. The impact of dilutive instruments is accretive, dilutive earnings per share is therefore brought into line with net earnings per share.

Cash flow generation

The change in working capital was a net cash outflow by €19 million in H1 2024 compared to a net cash outflow of €55 million in H1 2023, mostly reflecting a better level of cash collection and the one-off positive impact from timing differences in VAT payments.

The leasing portfolio and other financing services stood at €591 million as of 31 July 2024, compared to €598 million as of 31 January 2024 (only down by (1.0)% on an organic basis), thanks to the solid performance of the Mail activity. While generating future subscription-related revenue, the expected increase in lease receivables resulting from the good performance in the placement of new equipment will translate into a cash outflow in H2 2024. At the end of H1 2024, the default rate of the leasing portfolio stood at around 1.2% compared to c.1.3% at the end of FY 2023.

Interest and taxes paid increased slightly to €38 million in H1 2024 versus the amount of €35 million paid in H1 2023. The difference was mostly explained by higher interest rates in H1 2024.

Capital expenditure reached €46 million in H1 2024, stable compared to H1 2023 reflecting an increase in capex for rent offset by the non-renewal of office leases (lower IFRS 16 capex). Capex for Digital reached €12 million in H12024, slightly up compared to €11 million in H1 2023 and was mainly focused on R&D. Capex for Mail decreased from €25 million to €22 million, due to lower IFRS 16 capex linked to less office leases renewal. Capex for Lockers increased from €10 million to €13 million to support the open network deployment in the UK and France.

All in all, cash flow after capital expenditure was up from a negative amount of €15 million in H1 2023 to a positive amount of €3 million in H1 2024.

Leverage and liquidity position

Net debt stood at €726 million as of 31 July 2024, a slight increase against the €709 million of net financial debt recorded as of 31 January 2024. In June 2024, the Group extended by an additional year the maturity of its Revolving Credit Facility to 2029. In July 2024, Quadient proceeded to a partial bond buy-back for a total amount of €7 million, leaving the outstanding amount of the 2.25% bond at €260 million.

The Group is well positioned to refinance its 2.25% bond, maturing early 2025.

The leverage ratio (net debt/EBITDA) remained broadly stable from 3.0x⁽²⁾ as of 31 July 2024 compared to 2.9x⁽²⁾ as of 31 January 2024. Excluding leasing, Quadient leverage ratio improved from 1.65x⁽²⁾ as of 31 January 2024 to 1.6x⁽²⁾ as of 31 July 2024.

As of 31 July 2024, the Group had a robust liquidity position of €494 million, split between €194 million in cash and a €300 million undrawn credit line, maturing in 2029.

Shareholders’ equity stood at €1,064 million as of 31 January 2024 compared to €1,069 million as of 31 January 2024. The gearing ratio⁽⁶⁾ stood at 68,2% as of 31 July 2024.

MAIL ITALIAN SUBSIDIARY

Following the reclassification of the Mail Italian Subsidiary as discontinued operations under IFRS 5 in full-year 2023, an agreement for its sale has been signed with a local mail distribution company in July 2024.

CAPITAL ALLOCATION

In line with Quadient’s capital allocation policy, the Company announces the launch of a share buyback program for a total consideration of up to €30 million to be executed on the market over an18-month⁽⁷⁾ period.

This operation aims at improving shareholders’ return. It also demonstrates Quadient’s confidence in the value creation potential of its new Elevate to 2030 strategic plan, its ability to reach its FY 2026 leverage ratio target⁽⁸⁾ and is in line with the capital allocation policy of the Company. A press release detailing this share buyback program has been published alongside today’s H1 2024 results.

OUTLOOK

With H1 2024 organic growth in line with expectations, Quadient confirms its FY 2024 financial guidance of organic growth both at the revenue and current EBIT levels. H2 2024 will benefit from an easier comparison basis for both Digital and Lockers as there will no longer be any negative impact neither from the delay in implementation of the two large SaaS contracts, nor from the change in commercial agreement with Yamato, which took place at the beginning of H2 2023.

Q2 2024 BUSINESS HIGHLIGHTS

Approval of all resolutions by the combined Shareholders’ meeting of 14 June 2024
On 17 June 2024, Quadient announced that its combined Annual General Meeting was held on 14 June 2024, under the chairmanship of Mr. Didier Lamouche. All submitted resolutions were ratified, with an attendance rate of 74.19% (quorum for ordinary and extraordinary resolutions).

The Annual General Meeting approved the renewal of the three-year terms of directorship of Hélène Boulet-Supau, Geoffrey Godet, Richard Troksa. Vincent Mercier’s directorship was renewed for an 18-month term, until 31 December 2025. The Annual General Meeting also approved the co-option and approved the renewal for a three-year term of Bpifrance Investissement, represented by Emmanuel Blot.

Quadient expands its Open Locker Network in new high traffic locations in Japan, leveraging existing JR East Smart Logistics Lockers
On 21 June 2024, Quadient announced a significant expansion of its open locker network in Japan through a strategic partnership with JR East Smart Logistics Co., Ltd., the logistics arm of the major Japanese rail company. This collaboration integrates Quadient’s advanced parcel delivery and pickup functionalities into JR East’s existing multifunctional locker system, Multi E-Cube, across Japan’s extensive railway network. This marks the first time Quadient is expanding its intelligent locker capacities to third-party networks, highlighting its agility in deploying an open and interoperable logistics ecosystem with new approaches.

Quadient reports cross-selling success in North America, reinforcing strategic vision
On 2 July 2024, Quadient announced that nearly 50% of the large deals signed in North America with mail automation customers in May included digital automation platform applications, confirming the critical role its software solutions play in influencing customer decisions. Additionally, two-thirds of these cross-sell deals, secured by Quadient’s mail teams, featured both mail and digital automation solutions, reaching an over 60% integration rate.

Quadient launches new cloud-based application to empower small businesses in their Mail management processes
On 4 July 2024, Quadient announced the launch of Secure Barcode, a cloud-based application designed to enhance the security of customer physical communications through seamless barcode generation and insertion into documents. This innovative solution is tailored for small businesses that are beginning their journey into digital mail solutions, providing immediate benefits in document management and operational efficiency.

Quadient and Punch Pubs Partner to enhance parcel locker access for UK communities
On 11 July 2024, Quadient announced a new contract with Punch Pubs, a leading pub company in the UK. This partnership will see the deployment of Quadient’s Parcel Pending open locker network across 1,261 pub locations managed by Punch Pubs, enhancing the accessibility and convenience of parcel deliveries and returns for communities nationwide. This collaboration supports sustainable growth strategies, leveraging Punch Pubs’ nationwide commercial properties to deliver value to local populations.

More than 1.5 million higher education Students in the U.S. now rely on Quadient smart lockers for package delivery
On 25 July 2024, Quadient announced it has reached a new milestone of installed smart lockers totaling more than 250 colleges and universities across the United States. Across the campuses, more than 1.5 million students per year are served by the automated lockers.

POST-CLOSING EVENTS

Quadient recognized as a major player for first time in IDC MarketScape for worldwide accounts payable automation software for midmarket and small businesses
On 14 August 2024, Quadient announced it has been named a Major Player for the first time in two IDC MarketScape reports – IDC MarketScape: Worldwide Accounts Payable Automation Software for Midmarket 2024 Vendor Assessment (doc # US52378624, July 2024) and IDC MarketScape: Worldwide Accounts Payable Automation Software for Small Businesses 2024 Vendor Assessment (doc # US52378824, July 2024).

Quadient secures major contract in North America, demonstrating strength in integrating Digital communications and Mail automation solutions
On 28 August 2024, Quadient announced a new contract with a North American global leader in financial services, worth approximately €1.4 million per year over an initial period of three years. This successful deal underscores Quadient’s capability to meet the complex communication needs of large organizations through its extensive portfolio of digital and mail automation platforms, combined with high-level consulting and professional services.

Quadient unveils new mobile app, enabling any local business to offer parcel locker delivery services to customers
On 4 September 2024, Quadient announced the launch of a mobile app that enables local businesses to deliver customer orders directly to Quadient open network lockers without the need for specific software integrations. The app is already available in the Japanese market under the name PUDO ACCESS and will soon be made available in other countries, continuing to create value for merchants and their local communities.

E-invoicing mandate for businesses in France: Quadient officially registered as a Dematerialization Platform Partner
On 12 September 2024, Quadient announced its official registration as a Partner Dematerialization Platform (PDP) under number 0060. This registration, issued on 12 September 2024 by the PDP Registration Service of the Public Finance Department, acknowledges that Quadient meets all the requirements of the new Finance Law and is authorized to participate in the next phase of interoperability tests with the tax authorities’ platform when it becomes available.

Quadient Named a Leader in 2024 SPARK Matrix for Accounts Payable Automation
On 19 September 2024, Quadient announced it has been recognized as a Technology Leader in the “SPARK Matrix: Accounts Payable Automation” report, a detailed analysis of the accounts payable (AP) automation market by independent analyst firm QKS Group. The recognition comes on the heels of Quadient also being named a Technology Leader in the “2024 SPARK Matrix: Accounts Receivable (AR) Applications” report, which was published in May. This marks the second year in a row that Quadient has been named a leader in both AP and AR in the SPARK Matrix reports.

To know more about Quadient’s news flow, previous press releases are available on our website at the following address: https://invest.quadient.com/en/newsroom.

CONFERENCE CALL & WEBCAST

Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).

To join the webcast, click on the following link: Webcast.

To join the conference call, please use one of the following phone numbers:

▪ France: +33 (0) 1 70 37 71 66.

▪ United States: +1 786 697 3501.

▪ United Kingdom (standard international): +44 (0) 33 0551 0200.

Password: Quadient

A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.

Calendar

27 November 2024: Third quarter 2024 sales release (after close of trading on the Euronext Paris regulated market).

About Quadient®

Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

For more information about Quadient, visit https://invest.quadient.com/en/.

Contacts

APPENDIX

Digital: New name for Intelligent Communication Automation

Mail: New name for Mail-Related Solutions

Lockers: New name for Parcel Locker Solutions

H1 2024 and Q2 2024 consolidated sales

H1 2024 consolidated sales by geography

In € million	H1 2024	H1 2023 restated ^(a)	Change	Organic change
North America	308	295	+4.1%	+2.8%
Main European countries⁽^b⁾	182	173	+4.9%	(1.6)%
International⁽^c⁾	45	49	(8.0)%	(2.5)%
Group total	534	517	+3.2%	+0.8%
(a) The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months. As this was the case in the full-year 2023 statements, H1 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in H1 2024. (b) Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom (c) International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

Q2 2024 consolidated sales by Solution

In € million	Q2 2024	Q2 2023 restated ^(a)	Change	Organic change
Digital	66	61	+8.1%	+5.8%
Mail	183	179	+2.4%	(0.8)%
Lockers	23	24	(3.2)%	(1.8)%
Group total	273	264	+3.3%	+0.6%
(a) The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months. As this was the case in the full-year 2023 statements, Q2 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in Q2 2024.

Q2 2024 consolidated sales by geography

In € million	Q2 2024	Q2 2023 restated ^(a)	Change	Organic change
North America	157	150	+4.9%	+3.2%
Main European countries⁽^b⁾	93	89	+4.2%	(1.8)%
International⁽^c⁾	22	25	(10.1)%	(5.8)%
Group total	273	264	+3.3%	+0.6%
(a) The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months. As this was the case in the full-year 2023 statements, Q2 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in Q2 2024. (b) Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom (c) International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

First half-year 2024

Consolidated income statement

In € million	H1 2024 (period ended on 31 July 2024)	H1 2023 restated (period ended on 31 July 2023)
Sales	534	517
Cost of sales	(135)	(131)
Gross margin	399	387
R&D expenses	(31)	(31)
Sales and marketing expenses	(143)	(139)
Administrative and general expenses	(97)	(90)
Service and support expenses	(58)	(55)
Employee profit-sharing, share-based payments and other expenses	(5)	(3)
Acquisition-related expenses	(4)	(3)
Current operating income	61	65
Optimization expenses and other operating income & expenses	(16)	(6)
Operating income	45	59
Financial income/(expense)	(21)	(16)
Income before taxes	24	43
Income taxes	2	(6)
Share of results of associated companies	0	(0)
Net income from continued operations	26	37
Net income of discontinued operations	(1)	(0)
Net income	25	37
Of which: Minority interests	1	1
Net attributable income	24	36

Simplified consolidated balance sheet

Assets In € million	H1 2024 (period ended on 31 July 2024)	FY 2023 (period ended on 31 January 2024)
Goodwill	1,089	1,082
Intangible fixed assets	118	121
Tangible fixed assets	158	156
Other non-current financial assets	66	65
Other non-current receivables	2	2
Leasing receivables	591	598
Deferred tax assets	47	17
Inventories	71	67
Receivables	193	228
Other current assets	74	84
Cash and cash equivalents	194	118
Current financial instruments	2	2
Assets held for sale	11	9
TOTAL ASSETS	2,617	2,550

Liabilities In € million	H1 2024 (period ended on 31 July 2024)	FY 2023 (period ended on 31 January 2024)
Shareholders’ equity	1,064	1,069
Non-current provisions	15	12
Non-current financial debt	552	715
Current financial debt	329	66
Lease obligations	39	46
Other non-current liabilities	4	2
Deferred tax liabilities	119	104
Financial instruments	4	5
Trade payables	69	79
Deferred income	190	212
Other current liabilities	219	225
Liabilities held for sale	13	15
TOTAL LIABILITIES	2,617	2,550

Simplified cash flow statement

In €millions	H1 2024 (period ended on 31 July 2024)	H1 2023 restated (period ended on 31 July 2023)
EBITDA	111	112
Other elements	(11)	(7)
Cash flow before net cost of debt and income tax	100	105
Change in the working capital requirement	(19)	(55)
Net change in leasing receivables	6	16
Cash flow from operating activities	87	66
Interest and tax paid	(38)	(35)
Net cash flow from operating activities	49	31
Capital expenditure	(46)	(46)
Net cash flow after investing activities	3	(15)
Impact of changes in scope	(8)	0
Others	0	(0)
Net cash flow after acquisitions and divestments	(5)	(15)
Dividends paid	0	(0)
Change in debt and others	64	25
Net cash flow from financing activities	64	25
Cumulative translation adjustments on cash	(0)	(1)
Net cash from discontinued operations	2	(1)
Change in net cash position	60	10

Figures exclude Mail Italian subsidiary which has been reclassified as discontinued operations in 2023.
(1) H1 2024 sales are compared to H1 2023 sales, to which is added pro rata temporis the revenue of Daylight and Frama for a consolidated amount of €12 million. The currency impact is positive for €1 million.
(2) Including IFRS 16
(3) H1 2024 ARR impacted by a €0.2 million negative currency effect vs 31 January 2024
(4) EBITDA = current operating income + provisions for depreciation of tangible and intangible fixed assets.
(5) For the H1 2024, the average compounded number of shares is 33,950,930. Diluted number of shares is 34,487,900.
(6) Net debt / shareholders’ equity
(7) Subject to the renewal of the share buyback authorizations at the 2025 AGM
(8) FY 2026 leverage ratio excluding leasing target of 1.5x

Attachment

The MIL Network –

September 29, 2024

MIL-OSI: Solutions30 announces the strategic acquisition of Xperal
Source: GlobeNewswire (MIL-OSI)

Solutions30 announces the acquisition of Xperal, a leading company specialized in end-to-end B2B solar projects in the Netherlands and Germany.

Based in the Netherlands, Xperal is renowned for its comprehensive services in the solar energy sector, including design, engineering, procurement, commissioning, and maintenance. In 2023, the company achieved revenues of 15 million euros, demonstrating its strong market position and growth potential.

This acquisition aligns with the Group strategic goal to expand its services into the Benelux region and increase its market share. Through this operation, the company will be able to, first, offer a broader range of services and, second, strengthen its position as a leading provider of sustainable energy solutions.

“The acquisition of Xperal represents a significant milestone for Solutions30 by allowing us to extend our Energy Transition services in the Benelux region and Germany.” Says Luc Brusselaers, Chief Revenue Officer at Solutions30. “By integrating Xperal’s expertise in solar projects, we are now positioned to offer a complete portfolio of energy services, including smart metering, electric vehicle charging (EVC), power grid management, photovoltaic (PV) systems, and energy storage solutions.”

More generally, this latest acquisition marks Solutions30’s ambition to accelerate the development of sustainable energy services and infrastructures for businesses and local authorities. It demonstrates its determination to offer a complete range of services across the entire value chain, as well as the latest technologies available.

“This partnership with Solutions30 marks a new chapter for Xperal” comments Jaimie Louwers, Co-founder of Xperal. “This integration enables us to expand our geographical reach into the Benelux area, giving us access to new markets and opportunities. With Solutions30’s extensive resources and network, we are able to accelerate our growth and secure larger deals.”

For further information please read the Xperal website: https://www.xperal.com/

About Solutions30 SE

The Solutions30 group is the European leader in solutions for new technologies. Its mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike. Yesterday, it was computers and the Internet. Today, it’s digital technology. Tomorrow, it will be technologies that make the world even more interconnected in real time. With more than 50 million call-outs carried out since it was founded and a network of more than 15,000 local technicians, Solutions30 currently covers all of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, the Iberian Peninsula, the United Kingdom, and Poland. The share capital of Solutions 30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised.
Solutions30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30). Indexes: CAC Mid & Small | CAC Small | CAC Technology | Euro Stoxx Total Market Technology | Euronext Tech Croissance.
Visit our website for more information: www.solutions30.com

About Xperal

Xperal acquisition includes Louwers Beheer B.V. and its subsidiaries: XPERAL B.V, Astra Solar B.V., Louwers Installatie B.V., Solar Benelux B.V., and Louwers Onroerend Goed B.V. Visit the website for more information: https://www.xperal.com.

Contact

Individual Shareholders:
Tel: +33 1 86 86 00 63 – shareholders@solutions30.com

Investor relations
Investor.relations@solutions30.com

Press – Image 7:
Charlotte Le Barbier – Tel: +33 6 78 37 27 60 – clebarbier@image7.fr

Attachment
- Xperal_S30_PR_2024-09-23 ENG
The MIL Network –
September 29, 2024
MIL-OSI: Amundi: Launch of the capital increase reserved for employees
Source: GlobeNewswire (MIL-OSI)

Amundi: Launch of the capital increase reserved for employees

Amundi launches a capital increase reserved for employees (under the name We Share Amundi). This capital increase was initially decided on 6 February 2024 under the terms specified below.

This offer reflects Amundi’s desire to involve employees not only in the Company’s development but also in the creation of economic value. This will strengthen the employees’ sense of belonging.

The discount offered to employees will be 30%, as for the five previous capital increase reserved for employees.

Eligible employees can subscribe to the offering between 23 September and 4 October 2024 included. The capital increase is scheduled for 31 October 2024 and the newly issued Amundi shares will be listed on Euronext Paris on 4 November 2024.

As a reminder, employees currently own 1.41 % of Amundi’s share capital.

The impact of this offering on the net earnings per share should be negligible. The maximum number of Amundi shares to be issued will be capped at 1,000,000 shares (i.e. less than 0.5% of the Company’s share capital and voting rights).

Terms of the capital increase

Issuer

Amundi, a French limited company (société anonyme) with share capital of €511.619.085 and with its offices located at 91-93, Boulevard Pasteur, 75015 Paris, France, registered with the Paris Trade and Companies Registry under number 314 222 902 (the “Company”).

Securities offered

The offering is a capital increase in cash reserved for employees, employees who have taken early retirement and retired employees of Amundi Group companies that are members of the UES Amundi Company Savings Plan (“PEE”) or Amundi’s International Group Savings Plan (“PEGI”). The capital increase will be carried out pursuant to Resolution 24 of the Annual General Meeting of 12 May 2023, without preferential shareholder subscription rights.

The capital increase will be capped at 1,000,000 shares with a par value of €2.50 per share. The newly issued shares will be fully assimilated to existing ordinary shares.

Amundi will request that the newly issued shares under the offering be admitted for trading on Euronext Paris as soon as possible after the capital increase is completed, currently scheduled for 31 October 2024. These shares will be listed on the same line as the existing shares, under ISIN code FR0004125920.

Terms of the 2024 offering

We Share Amundi is being made available to employees in France and Amundi Group entities in the following countries: Austria, Czech Republic, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Malaysia, Singapore, Spain, Taiwan, United Kingdom and United States.

Employees of companies that are members of the PEE or PEGI, with at least three months of employment, whether consecutive or not, between 1 January 2023 and the last day of the subscription period, as well as retired employees in France that have kept assets in the PEE, are eligible to the 2023 offering.

The subscription price is set at 47.00 euros. This subscription price is the average of the share opening price over the 20 trading days between 23 August and 19 September 2024 (included), minus a 30% discount.

Eligible employees can subscribe to the offering between 23 September 2024 and 4 October 2024 included. Shares can be subscribed to via the FCPE (Employment Shareholding Fund) AMUNDI ACTIONNARIAT      RELAIS 2024 or FCPE AMUNDI SHARES RELAIS 2024, with the exception of certain countries where shares will be subscribed to directly. Once the capital increase is completed, and following decisions by the funds’ Supervisory Boards and the approval of the French Autorité des Marchés Financiers (AMF), the FCPE AMUNDI ACTIONNARIAT RELAIS 2024 will be merged into the FCPE AMUNDI ACTIONNARIAT, and the FCPE AMUNDI SHARES RELAIS 2024 will be merged into the FCPE AMUNDI SHARES.

The voting rights attached to the shares held via the Funds will be exercised by the Fund’s Supervisory Board. The voting rights attached to the directly-held shares will be exercised by the subscribers.

The shares subscribed to under We Share Amundi will be subject to a five-year lock-up period, unless an early-exit event occurs as described in the PEE or PEGI plan rules. Early-exit events will be adjusted where applicable for certain countries.

An employee can invest up to a maximum of €40,000. This cap is assessed on all the employee shareholding operations of the Crédit Agricole group in which Amundi employees could participate in 2024. Employees may finance their subscription by making voluntary contributions to the plans, up to the annual cap on investments in employee savings plans which is set at 25% of their gross annual compensation. Members of the UES Amundi PEE are also entitled to use their     assets held in another specific fund of the PEE.

Should subscription requests exceed the maximum number of shares available under the offering, the smallest subscriptions will be fully honoured while the highest subscriptions will be subject to successive caps until all available shares are subscribed. In France, any cap on subscriptions will first be applied to portions of subscriptions financed by voluntary contributions, then on the subscriptions financed by the transfer of available assets held in another specific fund of the PEE, and finally on the subscriptions financed by the transfer of unavailable assets held in another specific fund of the PEE.

Disclaimer

This press release is for information only and is not a solicitation to subscribe to Amundi shares.

We Share Amundi is strictly reserved to the eligible employees mentioned in this release and shall only be available in countries where such an offer has been registered with the competent local authorities, or the latter has been notified thereof, and/or following the approval of a prospectus by the competent local authorities, or if an exemption has been granted from the obligation to publish a prospectus or to register the offering with the authorities, or to notify the latter thereof.

More generally, We Share Amundi will only be available in countries where all required registration and/or notification procedures have been completed and the necessary authorizations obtained.

Contact

For any questions about We Share Amundi, eligible employees may contact their Head of Human Resources or visit the following website: www.weshare.amundi.com

***

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players¹, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.15 trillion of assets².

With its six international investment hubs³, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.

Amundi, a trusted partner, working every day in the interest of its clients and society

www.amundi.com

Press contacts:
Natacha Andermahr
Tel. +33 1 76 37 86 05
natacha.andermahr@amundi.com

Corentin Henry
Tel. +33 1 76 36 26 96
corentin.henry@amundi.com

Investor contacts:
Cyril Meilland, CFA
Tel. +33 1 76 32 62 67
cyril.meilland@amundi.com

Thomas Lapeyre
Tel. +33 1 76 33 70 54
thomas.lapeyre@amundi.com

Annabelle Wiriath

Tel. + 33 1 76 32 43 92

annabelle.wiriath@amundi.com

¹Source: IPE “Top 500 Asset Managers” published in June 2023, based on assets under management as at 31/12/2022
²Amundi data as at 31/12/2023
³Boston, Dublin, London, Milan, Paris and Tokyo

Attachment
- Amundi 2024 – PR EN – Launch of the capital increase reserved for employees_
The MIL Network –
September 29, 2024
MIL-OSI USA: CONGRESSMAN PAT RYAN HOSTS BREAKFAST TO HONOR HUDSON VALLEY VETERANS

Source: United States House of Representatives – Congressman Pat Ryan (New York 18th)

Congressman Pat Ryan Hosts Breakfast to Honor Hudson Valley Veterans

Ryan hosted Hudson Valley veterans for a breakfast to thank them for their service and honored veterans Ralph Osterhoudt, Vincent Serrano, and David Harris for outstanding contributions to the Hudson Valley community

NEW WINDSOR, NY – On Saturday, Congressman Pat Ryan hosted a breakfast for Hudson Valley veterans to thank and honor them for their service. At the breakfast, Ryan recognized veterans Ralph Osterhoudt, Vincent Serrano, and David Harris for their heroism in military service and outstanding contributions to the Hudson Valley community. Ryan, a West Point graduate and Army veteran, has prioritized recognizing Hudson Valley veterans for their heroism and ensuring they receive the benefits, support, and recognition they earned.

“Our veterans have led lives grounded in service – motivated not out of self-interest, but out of a deep belief in our country’s principles of equality and freedom for all,” said Congressman Pat Ryan. “That heroism and selflessness deserves to be honored and uplifted. I want our veterans to know that their sacrifices do not go unrecognized. Today and every day, I’m fighting to make sure our men and women in uniform receive the benefits that they earned and that our government upholds the promises it made to them.”

“A true Patriot is someone who puts his life on the line in the service of his country,” said Juan Figueroa, Retired Marine Chief Warrant Officer and Sheriff of Ulster County. “Sergeant David Harris continues to serve his community as a Deputy Sheriff in Ulster County. He took an oath and is selfless in his commitment to protect our rights and freedoms.”

“Ralph Osterhoudt is not only a Dutchess County hero; he’s an American hero whose service in the 575th Field Artillery Battalion saved the lives of countless Auschwitz prisoners in Nazi Germany,” said Adam Roche, Director of Dutchess County Veterans Affairs. “Mr. Osterhoudt’s service did not end when he returned home, as he’s advocated for decades for his fellow Dutchess County veterans, like myself. He is a tribute to the American ideals his fellow veterans have fought to uphold; and an inspiration for all of us to live a life of service.”

“Veteran Vincent Serrano and his wife Ely, are both very patriotic and involved in veteran as well as community activities. It is an honor to have Vinny as a member of the Veteran Center Board,” said Colonel Bob Anderson of the Orange County Veterans Center.

“It’s great seeing Congressman Ryan doing so much work with Veterans. I’ve grown up hearing how much they have been through, so seeing him in their corner is really fulfilling,” said Mia Serrano, daughter of Vincent Serrano. “I’m also really happy I was able to help honor my father. I love seeing how excited he is to help and how it gives him a huge sense of purpose.”

“Congressman Ryan is an honest man with integrity. He is invested in the community and specifically for veterans,” said Middletown veteran Nicholas White. “His office helped me empathetically and efficiently with my VA claims. Today’s breakfast reflects the commitment that he and his staff have for our veterans’ community.”

Ralph Osterhoudt, a Staatsburg WWII veteran, was injured in a blast only weeks after deploying to the European front, but went on to fight in the Battle of the Bulge and helped liberate the Auschwitz concentration camp. Osterhoudt’s personal narrative of his time in service is included in the Library of Congress’ Veterans History Project. He is the recipient of three Bronze Stars and the French Medal of Honor. After his service, Osterhoudt continued serving the Hudson Valley community, including working at the Staatsburg Post Office. He pushed to keep the Castle Point VA Medical Center open alongside then-Ulster County Executive Pat Ryan and a coalition of Hudson Valley veterans and advocates. Osterhoudt continues to be an invaluable force of nature within the Hudson Valley veterans community.

Newburgh’s Vincent Serrano is a Marine veteran of the Vietnam War and recipient of a Purple Heart, Vietnam Service Medal, and Republic of Vietnam Campaign Medal. He is the senior vice commandant of the Marine Corps League Greater Newburgh Detachment #249 and was instrumental in organizing National Welcome Home Vietnam War Veterans Day observances in the Hudson Valley. He is a fierce advocate for his fellow veterans and is a robust presence in the Hudson Valley veterans community, frequently partnering with Hospice of Orange and Sullivan Counties to provide events and services that honor and support his fellow veterans. He is a Board Member of the Orange County Veterans Center and active member of VFW Post 973, American Legion Post 353, the D.A.V., AM/VET, and Vietnam Veterans of America. During the COVID pandemic, Serrano worked tirelessly to package and deliver food to Hudson Valley families struggling during the crisis. He is also the coordinator for the Hudson Valley’s Toys-4-Tots.

Kingston native David Harris served three tours in Afghanistan over eight years in the Marine Corps. During that time, he earned the Bronze Star with Valor for his heroism and bravery in combat. Harris grappled with Post-Traumatic Stress Disorder (PTSD) after returning from combat. He found purpose and direction through service again, this time leaning on the criminal justice college degree he had earned prior to his military service and attending the police academy. He now serves as an Ulster County Sheriff’s Deputy, continuing to bravely and selflessly protect the Hudson Valley community.

Congressman Pat Ryan is the first West Point graduate to represent the Academy in Congress and is an Army veteran of two combat tours in Iraq. He has prioritized delivering for Hudson Valley veterans and recognizing them for their service. Earlier this year, Ryan delivered $1 million in federal funds for the Rumshock Veterans Foundation to build ten homes for unhoused veterans in Orange County as part of its Veterans Village Project. After pushing for months for a partnership between the Department of Veterans Affairs (VA) and the Department of Defense (DoD), Ryan announced this summer that Hudson Valley veterans will now be able to access expanded healthcare services at Keller Army Community Hospital at West Point.

Congressman Ryan has fought to ensure that veterans, service members, and military families can easily access the benefits that they’ve earned. Ryan has utilized his mobile office, the C.A.R.E.S. Van, to bring assistance with federal agencies like the VA directly to Hudson Valley veterans with events at Veterans Service Organizations (VSOs) across the Hudson Valley. This spring, Ryan brought together over 35 organizations, government offices, and community partners from across the Hudson Valley for an all-in-one Veterans and Military Families Resource Fair.

Congressman Ryan is a member of the House Armed Services Committee. Ryan has spearheaded legislation that expands benefits and improves quality of life for veterans, servicemembers, and military families, including introducing the Health Care Fairness for Military Families Act of 2023, the Expanding Home Loans for Guard and Reservists Act, and the Never Forgotten Korean War POW Act. Ryan has also championed legislation that protects reproductive freedom for women veterans and service members, including by cosponsoring the Equal Access to Contraception for Veterans Act and the Access to Reproductive Care for Servicemembers Act.

###

MIL OSI USA News –

September 29, 2024
MIL-OSI Europe: Commission proposes €120 million support to farmers affected by adverse weather events in Bulgaria, Germany, Estonia, Italy and Romania

Source: European Commission

European Commission Press release Brussels, 23 Sep 2024 Today, the Commission proposed to allocate €119,7 million from the agricultural reserve to directly support farmers from Bulgaria, Germany, Estonia, Italy and Romania who have been impacted by exceptional adverse climatic events in Spring and early Summer.

MIL OSI Europe News –

September 29, 2024
MIL-OSI Economics: Piero Cipollone: From dependency to autonomy: the role of a digital euro in the European payment landscape

Source: European Central Bank

Introductory statement by Piero Cipollone, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament

Brussels, 23 September 2024

It is a pleasure to be here today to meet the new members of this Committee and to update you on the status of the digital euro project. Let me also congratulate Madame Lalucq on her election as ECON Chair.

The ECB appreciates the open and valuable exchanges we have had with the ECON Committee on the digital euro since the beginning of the project. I am fully committed to continuing these exchanges and look forward to our future discussions.

Today I will focus on three key areas. First, Europe’s dependency on foreign players for retail payments. Second, the benefits of a digital euro for everyone, including consumers, merchants and banks. And third, the progress we have made on the digital euro project so far.

Foreign dominance in the European payment landscape

Fast-forward to the year 2030. Imagine you are at the football World Cup in Spain. You want to buy a drink, but you can only pay with Alipay. This scenario is not as far-fetched as it may seem: this summer, buying tickets for the European Football Championships in Germany was only possible with Chinese or American means of payment.

Could you imagine this happening in the United States? Going to the finals of the American football league, for example, and having no American means of payment available? I certainly cannot.

The Eurosystem will of course continue to ensure that people in Europe can pay with cash.^[1] However, cash is becoming less and less popular as digital payments and online shopping grow.^[2]

For example, more and more people are buying their groceries online. But you can’t use cash to pay for these. More often than not, the only option is PayPal or an international card scheme like Visa or Mastercard.

And more and more people are using digital wallets like PayPal or Apple Pay on their mobile phones. By 2027 these platforms are expected to handle 40% of e-commerce and 27% of in-store payments in Europe.^[3]

At the same time, the share of companies in the euro area not accepting cash has been increasing significantly.^[4]

These developments are contributing to the marginalisation of elderly and less tech-savvy people. They also make us dependent on non-European companies, which is risky.

Imagine what would happen if you could not pay digitally. For example, two weeks ago significant parts of the European card payments market were shut down for almost an entire day.^[5] Just like with electricity, gas or water, we don’t think about payments until they stop working. For energy, we had to learn this the hard way following Russia’s invasion of Ukraine. For payments, we owe it to Europeans to do better.

We need our own strong digital payments system.^[6] We can achieve this by bringing central bank money into the digital era with the introduction of a digital euro: a digital form of cash, issued by the central bank and available to everyone in the euro area.^[7]

A digital euro would strengthen Europe’s financial sovereignty and resilience because it would be built with European technology and infrastructure. It would empower Europe to independently develop and manage digital payment solutions, supporting the further deepening of the Single Market.^[8]

But most importantly, the digital euro would offer tangible benefits to all stakeholders – consumers, merchants and banks.

Benefits for European citizens

We strongly support the Single Currency Package^[9], which will ensure that cash remains widely accessible and accepted. At the same time, it will pave the way for a digital euro, which would take the advantages of cash into the digital world.

Consumers could use a digital euro for all payments, everywhere in the euro area, also when shopping online. With a digital euro, making or receiving payments would be free of charge and as easy as using cash today. Consumers would need to use only one device and remember just one password. In addition, having a single means of payment for all circumstances would make it easier for users to have an overview of their expenditure.

Importantly, a digital euro would seek to promote digital financial inclusion by ensuring that no one is left behind.^[10] It would be accessible to everyone across the euro area, via a mobile app or a physical card, so everyone can choose the technology that they are most comfortable with, no matter how old or tech-savvy they are.

Finally, a digital euro would offer the best possible privacy and data protection afforded by the current technology used in large payment systems.^[11] From the outset, ensuring user privacy has been a central focus of the digital euro project.

A digital euro would be available both online and offline.^[12] With the offline functionality, users would enjoy cash-like privacy. The details of your offline payments would only be known to you and the recipient. For online payments, too, we would ensure that your personal data remain your own. The Eurosystem will not be able to identify you, nor directly link you to your payments.^[13]

New opportunities for merchants

A digital euro would also bring new opportunities for European merchants.

Right now, merchants in Europe are largely dependent on a handful of dominant online or card payment methods, often relying on non-European providers. International card schemes currently account for 64% of card transactions in the euro area.^[14]

This costs European merchants a lot of money. They collectively pay a significant amount each year to international card schemes like Visa or Mastercard. And the cost is mostly borne by smaller merchants, who incur charges three to four times higher than those of their larger competitors.^[15]

A digital euro would include safeguards for merchants by capping the fees they pay to banks for processing payments.^[16] A digital euro would thus narrow the gap between what smaller and larger merchants are charged for digital payments.

By providing a true alternative to existing payment solutions, a digital euro would also put all merchants, large and small, in a stronger position to negotiate better conditions with other providers. Finally, it could provide a safety net for merchants in case of network or power outages, thanks to its offline functionality.^[17]

Benefits for banks

Banks would benefit too, particularly in our rapidly evolving payment landscape, in which new players – especially big tech companies from outside Europe – are increasingly entering the market. The banks would be remunerated for the services they offer, while the Eurosystem would cover the costs of the digital euro scheme and infrastructure.

When you compare a digital euro with services like PayPal or Apple Pay, the benefits for banks become even clearer. For instance, banks do not earn anything if people top up their PayPal wallet via direct debit. And with Apple Pay, banks actually have to pay a fee just to let their cards be used in Apple Wallet.

A digital euro would also open up a new source of revenue by allowing banks to provide value-added services to their customers.^[18]

We are working closely with the market to ensure that a digital euro leverages the existing standards as much as possible, which would keep costs down and support Europe’s competitive payment landscape.^[19]

Moreover, cards and applications currently available in only one or a handful of Member States could use these standards to reach customers across the euro area without the need to invest in new acceptance infrastructure. Therefore, a digital euro would mean that European payment service providers could offer their customers the convenience of using their product everywhere in the euro area – just like international card companies. It would also strengthen banks’ negotiating positions vis-à-vis these companies.

Finally, banks and other payment service providers would be responsible for distributing a digital euro, thus serving as the sole point of contact for digital euro users. So a digital euro could help banks retain their customers in the face of growing payments competition.

Project preparation phase at full speed

Let me now give you a brief update on where we stand with the project.^[20]

We started the investigation phase back in 2021 and are now at the midpoint of the preparation phase, with roughly one more year to go.

One of our key focus areas during this phase is to develop a methodology for determining the maximum amount of digital euro a person could hold at any time.^[21] The holding limits are important to ensure financial stability and prevent large-scale transfers from bank deposits to digital euro, especially during crises.

These limits would be high enough to avoid negatively affecting the digital euro user experience.^[22]

Experts from the ECB, the national central banks in the Eurosystem and national competent authorities, building on their unique know-how, have started to identify the factors that could influence the holding limit calibration, on the basis of three key areas defined in the draft Regulation: usability, monetary policy and financial stability.^[23]

While the exact holding limits would be defined closer to the potential launch and on the basis of a well-defined governance process enshrined in the draft Regulation,^{[the ECB’s Governing Council will decide whether to move to the next phase of the project. But the Governing Council will not take any decision about the issuance of a digital euro before the legislative act has been adopted.}

Conclusion

To conclude, introducing a digital euro across the euro area would take time, but it is key for Europe’s future. Countries across the world are exploring retail central bank digital currencies. If we want to be standard-setters and keep our position among the frontrunners, we need to move swiftly.

A digital euro is a common European project, which is why we are talking to all the relevant stakeholders and carefully listening to their views and concerns. I also remain committed to engaging regularly with the European Parliament.

Introducing a digital euro that all banks and other providers make available to their customers and that all merchants accept, everywhere in the euro area, would take several years. Market participants need certainty to invest in the digital euro and this requires coordination between co-legislators and the central bank.

I appreciate all the work that the ECON Committee has done on the digital euro so far. The legislative discussions are now in your hands. The ECB is of course ready to engage with the negotiating team and to provide continued technical support when needed.

It is important that the legislative and technical work advance in parallel, swiftly and in close cooperation. Together, we can ensure that the digital euro strengthens Europe’s financial sovereignty and serves all its citizens.

MIL OSI Economics –

September 29, 2024
MIL-OSI USA News: U.S.-UAE Joint Leaders’ Statement Dynamic Strategic Partners

Source: The White House

His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and President Joseph R. Biden Jr. met today at the White House during an official visit of His Highness President Sheikh Mohamed bin Zayed to the United States. The visit is the first-ever by a President of the United Arab Emirates to Washington and marks the leaders’ fourth bilateral meeting in the Biden-Harris Administration. The leaders affirmed the enduring U.S.-UAE strategic and defense partnership, bolstered areas of deepening cooperation in advanced technology and investments, and discussed global and regional matters. The leaders pledged to pursue new opportunities to strengthen their economic and defense partnership; promote peace and stability across the Middle East and wider region; and deliver global leadership on issues of shared importance. The five decades of U.S.-UAE ties and friendship are rooted in a strong foundation of close collaboration that has underpinned our countries’ prosperity and security.

The leaders welcomed the significant progress between the United Arab Emirates and the United States during their tenure through cooperation in building trusted technology ecosystems, the Partnership for Global Infrastructure and Investment (PGI), the U.S.-UAE Partnership for Accelerating Clean Energy (PACE) initiative, and the Economic Policy Dialogue (EPD), all of which serve to uplift economic and trade ties between the two countries.

On particular issues of discussion:

Dynamic Strategic Partnership: Trade and Advanced Technology

Our countries’ strong foundation of partnership is reflected in our close alignment on key economic objectives and in the excellence of our private sectors that generate more than $40 billion of bilateral trade annually and an access of $26 billion of U.S. exports to the UAE. The Leaders charted an ambitious course for the United Arab Emirates and the United States to lead global efforts to develop and expand new fields central to the global economy, particularly in advanced technologies and the clean energy required to power Artificial Intelligence.

They welcomed the partnership between Microsoft and UAE’s Group 42 (G42) through Microsoft’s $1.5 billion investment in April 2024. This investment is accelerating joint AI development to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa.

The leaders further welcomed Microsoft and G42’s ongoing digital transformation in Kenya, which will leverage 1GW of geothermal energy to power data-centers to enable the deployment of cloud infrastructure and AI services for the public sector and regulated industries as well as enterprises. Further, the partnership will support the development of local Large Language Models and the establishment of an East African Innovation Lab. Additionally, the partnership hopes to encourage international and local connectivity investments, and collaboration with the government of Kenya to enable digital transformation programs across East Africa.

These initiatives mark the beginning of our partnership and investments in the responsible deployment of advanced technologies, clean energy, and frontier technologies that will be the engine that powers our interconnected world.

To meet the promise of this transformational moment and harness the potential of leading-edge technologies to improve human welfare globally, President Biden and His Highness President Sheikh Mohamed bin Zayed welcomed the Common Principles for Cooperation on AI, endorsed today by National Security Advisor Jake Sullivan and UAE National Security Advisor Tahnoon bin Zayed, and through which the United States and the United Arab Emirates aim to further strengthen cooperation, develop regulatory frameworks, promote the safe and trusted deployment of critical and emerging technologies, and enable enhanced support for joint private-public sector research and academic exchanges.

Building on our collaboration in the field of advanced technology, this partnership incorporates safeguards to protect the national security of both countries, enable trusted investments and entrepreneurship, and facilitate cross-border innovation, while creating jobs and facilitating the protection of advanced U.S. technologies and respect for international principles, best practices, and human rights. Moving forward, the leaders decided to promote the expansion of relationships among scientific, academic, and research and development communities.

Strengthening Critical Infrastructure and Supply Chain Resiliencies

The leaders reviewed progress on efforts to build a more interconnected, integrated world in committing to secure and resilient supply chains through the Partnership for Global Infrastructure and Investment (PGI).

His Highness President Sheikh Mohamed bin Zayed and President Biden discussed progress on the landmark India-Middle East-Europe Economic Corridor (IMEC) launched at the 2023 G20 Leaders’ Summit in New Delhi together with the leaders of India, Saudi Arabia, France, Germany, Italy, and the European Union. The leaders reaffirmed that the corridor – connecting India to Europe by ship-to-rail connections through the United Arab Emirates, Saudi Arabia, Jordan, Israel, and Europe through Greece – will generate economic growth, incentivize new investments, increase efficiencies and reduce costs, enhance economic unity, generate jobs, lower greenhouse gas emissions, and enable the transformative integration of Asia, Europe, and the Middle East.

They underscored that this transformative partnership has the potential to usher in a new era of international connectivity to facilitate global trade, expand reliable access to electricity, facilitate clean energy distribution, and strengthen telecommunication. The two leaders emphasized the importance of joint initiatives to promote a circular economy, reduce waste, facilitate recycling, and advance sustainable practices, underscoring their commitment to innovation for resource efficiency and environmentally responsible growth.

The leaders also reaffirmed their commitment to continue their efforts with international partners and the private sector to connect the continents to commercial hubs and facilitate the development and export of clean energy; support existing trade and manufacturing synergies; strengthen food security and supply chains; and link energy grids and tele-communication lines through undersea cables to expand access to electricity, enable innovation of advanced clean energy technology, and connect communities to secure and stable internet.

The leaders additionally discussed the importance of ongoing efforts to cooperate on strategic investments in hard infrastructure and critical minerals-supply chains in Africa and emerging markets globally. These investments aim to diversify sourcing of critical minerals that are essential components to clean energy and advanced technologies, including batteries, wind turbines, semiconductors, and electric vehicles. President Biden recognized the United Arab Emirates’ leadership in strategic investments globally to ensure reliable access to critical infrastructure including, ports, mines, and logistics hubs through the Abu Dhabi Investment Authority, the Abu Dhabi Developmental Holding Company, Abu Dhabi Ports, and DP World.

Both leaders committed to remain in close touch on future investment opportunities and maintain cooperation on strategic investments.

The leaders additionally highlighted that the U.S.–UAE 123 Agreement, which provides a comprehensive framework for peaceful nuclear cooperation based on a mutual commitment to nuclear nonproliferation, is the “gold standard” for securing and propelling the next generation of technologies.

Partnering to Protect our Planet Through the Clean Energy Transition

The leaders underscored the importance of U.S.-UAE leadership at COP28, which galvanized world leaders to take action and address the climate crisis. President Biden thanked His Highness President Sheikh Mohamed bin Zayed for his extraordinary commitment that was central to the groundbreaking outcomes at COP28 in Dubai resulting in the UAE Consensus.

The two leaders recognized that this moment represents a unique opportunity to create sustainable and clean energy jobs, revitalize communities, improve quality of life, and power digital infrastructure with renewable energy across both countries and around the globe. In this context, the two leaders affirmed their shared commitment to protecting our precious planet and securing a sustainable future for humanity through united leadership across various platforms, including the upcoming COP29 and beyond, which will serve to advance climate action and strengthen global partnerships.

The two leaders expressed their determination to leverage visionary initiatives, including the Partnership for Accelerating Clean Energy (PACE), the Agricultural Innovation Mission for Climate (AIM4C), the First Movers Coalition, the Net Zero Producers Forum, the Global Methane Pledge, Carbon Management Challenge, the Oil and Gas Decarbonization Charter (OGDC), the Industrial Transition Accelerator (ITA), the Global Biofuels Alliance, and Global Flaring and Methane Reduction (GFMR) Trust Fund; and encourage commercial partnerships to decarbonize our energy systems, reduce emissions in pursuit of a net zero economy, and deliver prosperity to future generations.

President Biden and His Highness President Sheikh Mohamed bin Zayed reaffirmed their strong commitment to collaborate on sustainability and climate resilience, emphasizing their commitment to addressing global challenges through innovative solutions. The two leaders underscored their joint efforts in advancing agri-tech and vertical farming innovations, key drivers in enhancing food security for future generations. They highlighted ongoing cooperation in humanitarian initiatives aimed at addressing food insecurity in vulnerable regions, particularly through agricultural development and capacity building in climate affected areas. Recognizing the impact of climate change on public health, the leaders emphasized the need to integrate health resilience into comprehensive climate action strategies.

President Biden also congratulated the United Arab Emirates on its many successes in its two Years of Sustainability (2023-2024), including the recent announcement on co-hosting the next UN Water Conference in 2026 with Senegal, noting the critical importance of accessible and affordable clean water to all; and its significance within various sectors in the clean energy transition, addressing climate change, and the sustainable development agenda.

Partnership to Accelerate Clean Energy (PACE)

Under the U.S.-UAE Partnership to Accelerate Clean Energy (PACE) initiative, the United States and the UAE are announcing several initiatives that will continue our efforts to ensure a swift and smooth transition towards clean energy. The United States and United Arab Emirates remain committed to investing together in Africa and working to end energy poverty across sub-Saharan Africa. Today, the UAE-based Averi Finance and AMEA Power are both private sector partners under the U.S.-led Power Africa Initiative, joining an existing partnership with UAE-based company Phanes. As private sector partners, these firms will be offered tailored assistance from transaction advisors and technical experts and can benefit from services offered by participating U.S. government departments and agencies.

To support the Power Africa initiative, Averi Finance intends to facilitate $5 billion in investments, build 3GW of power generation projects, construct over 3,000 kilometers of transmission or distribution lines, establish over 500,000 new home and business connections, and aim for a CO2 equivalent reduction or avoidance of 90 million tons. AMEA Power and Power Africa have recently entered into a partnership to accelerate power projects. AMEA Power is targeting 5GW of renewable energy capacity in Africa by 2030, and to realize this target, intends to mobilize $5 billion in capital.

Additionally, under PACE, ADNOC has announced a 35 percent stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas. This facility aims to produce up to approximately 900,000 tons of low-carbon ammonia per year, enabling the transition to cleaner fuels in hard-to-abate sectors. Plynth Energy – a recently established Abu Dhabi government-owned early-stage fund focused on fusion technologies and supply chains – invested in the U.S. company Zap Energy, which plans to build scalable and commercially-viable fusion energy. This investment will help fund the further development of Zap Energy’s small-format commercial fusion technology. Zap Energy is a participant in the U.S. Department of Energy’s (DOE) Milestone-Based Fusion Development Program, and will receive DOE funding based on reaching development milestones to support the design of a fusion pilot plant.

Lastly, as two of over 155 participants in the Global Methane Pledge, the U.S. and the UAE will accelerate their respective domestic methane reductions, work together to support countries undertaking methane abatement, and call on others to do the same by advancing methane reduction projects, strengthening methane standards and regulations, addressing methane super emitter events, and identifying appropriate financing for methane reduction.

Partners in Space Exploration

As founding nation members of the Artemis Accords, His Highness President Sheikh Mohamed bin Zayed and President Biden reinforced the U.S. and UAE’s groundbreaking cooperation in space, the future of human exploration, and our shared interest in deepening our understanding of the universe.

The leaders recalled the role of this partnership in the historic launch of the first Arab probe to Mars, the Hope Probe in 2021, and the resulting and ongoing global scientific collaboration and contribution to the study of Mars’ atmosphere. This strategic partnership in deep space missions is further exemplified by the UAE Space Agency’s announcement of the Emirates Mission to the Asteroid Belt, the first multi-asteroid tour and landing mission to the main belt, with the partner, Laboratory for Atmospheric and Space Physics at the University of Colorado Boulder.

The leaders highlighted the January 2024 Mohammed bin Rashid Space Center agreement with NASA for the Center to provide an airlock for Gateway, humanity’s first space station to orbit the Moon supported by NASA’s missions for long-term Moon exploration under the Artemis Program. The airlock will allow crew and equipment transfers to-and-from the habitable environment of Gateway’s pressurized modules to the vacuum of space. This agreement will also enable the first Emirati astronaut to fly to the Gateway for joint exploration of the Moon.

This cooperation builds on NASA and the UAE’s previous human spaceflight collaboration. In 2019, Hazaa Al Mansouri became the first Emirati astronaut to fly to space during a visit to the International Space Station (ISS), where he worked with NASA to perform experiments and educational outreach. A second Emirati astronaut, Sultan Al Neyadi, launched to the ISS in 2023, where he participated in the floating laboratory’s scientific research to advance human knowledge and improve life on Earth. The leaders welcomed continued training of astronauts, including two Emirati astronaut candidates in training at the Johnson Space Center, as well as ongoing work on Mars research and scientific studies to support mutual exploration goals.

Sharing the common spirit and ambition of humanity’s journey in space, the leaders reaffirmed the principles of the Artemis Accords to explore and use outer space for peaceful purposes and usher in a new era of exploration, as well as obligations under the Outer Space Treaty, including the requirement that countries not place in orbit around the Earth any objects carrying nuclear weapons or any other kind of weapons of mass destruction.

Partners in Security and Defense

His Highness President Sheikh Mohamed and President Biden praised the strong security and defense partnership with the UAE. President Biden strongly affirmed the United States’ commitment to the United Arab Emirates’ security and territorial defense, and to facilitating its ability to obtain necessary capabilities to defend its people and territory against external threats. The leaders reaffirmed their commitment to a strong bilateral security and defense relationship and to expanding defense and security cooperation to bolster joint defense capabilities against external threats, including through the Department of Defense’s State Partnership Program.

The leaders affirmed a shared vision of an interconnected, peaceful, tolerant, and prosperous region as outlined by President Biden during the GCC+3 Summit Meeting in Jeddah, Saudi Arabia, on July 16, 2022. They reviewed the proud legacy of standing shoulder-to-shoulder, in peace and in conflict, including the UAE’s support for American-led counterterrorism missions since the attacks in New York, Pennsylvania, and Washington on September 11, 2001, to deter threats, de-escalate conflicts, and reduce tensions globally. Specifically, the leaders recalled the United States and the United Arab Emirates standing alongside each other in the global coalition against Da’esh, and prior conflicts: Somalia, the Balkans, Iraq, Afghanistan, and Libya.

The leaders reviewed ongoing initiatives and investments in advanced systems that have made the United Arab Emirates one of the most capable U.S. military partners in the region, in addition to a robust schedule of bilateral and multilateral exercises. They underscored the importance of strengthening efforts to combat regional threats, advance counterterrorism initiatives, reinforce maritime security and counter-piracy efforts, increase security cooperation, and intercept illicit shipments of weaponry and technology.

The leaders discussed deepening investment in U.S. defense systems and acknowledged that military-to-military cooperation with the United Arab Emirates’ armed services helps ensure interoperability with the United States through the provision of advanced defense articles and services. They further decided to explore potential investment in our most advanced defense systems and to maintain regular exchanges to deepen partnership in research and development.

The leaders reaffirmed the 2017 Defense Cooperation Agreement, an important step for both countries that underscored their vital and longstanding collaboration in defeating terrorist groups, such as Da’esh and al-Qaida, securing regional stability, and combatting threats against their common interests including terrorist financing. They underscored the importance of the annual Joint Military Dialogue as the foremost bilateral defense forum for advancing the U.S.-UAE defense partnership, including reviewing shared security interests, as well as discussing strategic objectives for the relationship and challenges in the region, such as maritime security, counter-piracy, counterterrorism cooperation, and domain awareness in the Middle East, the Indian Ocean, and East Africa. They further noted the recognition by the Security Council in Resolution 2686 that hate speech, racism, racial discrimination, xenophobia, related forms of intolerance, gender discrimination and acts of extremism can contribute to driving the outbreak, escalation and recurrence of conflict.

Designation as a Major Defense Partner of the United States

Acknowledging the U.S. and UAE’s deepening security partnership and cooperation in advanced technology and acquisition, shared interest in preventing conflict and de-escalation, President Biden today recognized the United Arab Emirates as a Major Defense Partner of the United States, joined by only India, to further enhance defense cooperation and security in the Middle East, East Africa, and the Indian Ocean regions. This unique designation as a Major Defense Partner will allow for unprecedented cooperation through joint training, exercises, and military-to-military collaboration, between the military forces of the United States, the UAE, and India, as well as other common military partners, in furtherance of regional stability.

Both leaders committed to close and sustained cooperation among our militaries.

Partners in a Stable, Integrated, and Prosperous Middle East and Wider Region

The leaders stressed the importance of reaching a peaceful solution to the dispute over the three islands, Greater Tunb, Lesser Tunb, and Abu Musa, through bilateral negotiations or the International Court of Justice, in accordance with the rules of international law including the UN Charter.

The leaders discussed persisting and emerging threats to peace and stability in the Middle East and the wider region. They renewed their commitment to upholding international law, particularly international humanitarian law, work with parties to resolve conflicts and protect civilians, and to provide urgently needed aid to alleviate human suffering. They reiterated the importance of sustainable and enduring solutions to the security threats in the region, including those posed by non-state terrorist actors. They discussed the enduring importance of the Abraham Accords and continuing on the path of peace, integration, and prosperity in the region.

The leaders discussed the war in Gaza. They underscored their commitment to continue working together towards ending the conflict, calling for a lasting and sustainable ceasefire and the release of hostages and detainees in accordance with the United Nations Security Council Resolution (UNSCR) 2735, and affirmed that all sides to the conflict must adhere to their obligations under international humanitarian law. President Biden commended the UAE’s extraordinary humanitarian efforts in Gaza, which have been critical in addressing the humanitarian crisis, including through the launch of a maritime corridor for movement of aid, opening a field hospital in Gaza, and supporting evacuations of wounded civilians and cancer patients.

The two leaders emphasized the ongoing need for the urgent, unhindered, and sustained delivery of life-saving humanitarian assistance, at a scale commensurate with the growing needs among the civilian population throughout Gaza. They called on all parties to ensure the safety, security, and sustained access of aid workers to all those in need, and to create the conditions needed to facilitate an effective humanitarian response in Gaza.

His Highness President Sheikh Mohamed commended the mediation efforts by the United States, along with Egypt and Qatar, to reach a lasting and sustainable ceasefire and hostage release deal to help end the war in Gaza. His Highness also echoed the principles laid out by President Biden on May 31, 2024, and stressed the importance of building on this proposal in order to create a serious political horizon for negotiation. To that end, the leaders discussed a path to stabilization and recovery that responds to the humanitarian crisis, establishes law and order, and lays the groundwork for responsible governance. The leaders expressed their commitment to the two-State solution, wherein a sovereign and contiguous Palestinian state lives side-by-side in peace and security with Israel, as the only way to resolve the Israeli-Palestinian conflict in accordance with the internationally-recognized parameters and the Arab Peace Initiative. They stressed the need to refrain from all unilateral measures that undermine the two-State solution, and to preserve the historic status quo of Jerusalem’s holy sites, recognizing the special role of the Hashemite Kingdom of Jordan in this regard.

On the conflict in Sudan, the leaders expressed their deep concern over the tragic impact the violence has had on the Sudanese people and on neighboring countries. Both leaders expressed alarm at the millions of individuals who have been displaced by the war, the hundreds of thousands experiencing famine, and the atrocities committed by the belligerents against the civilian population. They stressed that there can be no military solution to the conflict in Sudan and underscored their firm and unwavering position on the imperative for concrete and immediate action to achieve a lasting cessation of hostilities, the return to the political process, and transition to civilian-led governance.

Both leaders reaffirmed their shared commitment to de-escalate the conflict, alleviate the suffering of the people of Sudan, ensure humanitarian assistance reaches the Sudanese people, and prevent Sudan from attracting transnational terrorist networks once again. Noting their shared concern about the risk of imminent atrocities, particularly as fighting continues in Darfur, they underscored that all parties to the conflict must comply with their obligations under international humanitarian law, and all individuals and groups that commit war crimes must be held accountable. The leaders emphasized that the priority right now must be the protection of civilians, particularly women, children and the elderly, securing humanitarian pauses in order to scale up and facilitate the movement of humanitarian assistance into the country and across conflict lines, and ensuring the delivery of aid to those in need, especially to the most vulnerable.

Partners in Cyberspace

The leaders emphasized that safety and stability in cyberspace is critical for digital economic growth and development, and reaffirmed their commitment to an open, interoperable, secure, and reliable internet, underpinned by the multistakeholder model of internet governance.

They committed to deepen cooperation on cybersecurity and to enhance cyber collaboration to protect critical infrastructure, counter malicious cyber activity by state and non-state actors, and noted that the UAE’s significant contributions to the International Counter Ransomware Initiative reflects the strength of our cooperation. The leaders committed to promote stability in cyberspace based on the applicability of international law including the United Nations Charter, the promotion of voluntary norms of responsible state behavior during peacetime, and the development and implementation of confidence building measures between states.

Looking Forward

The United States and the United Arab Emirates are both entrepreneurial nations, joined together by a relentless focus on the future. Our aspirations are rooted in a common resolve to pursue innovative partnerships in new fields, including AI, food security, infrastructure investment, and supply chain resilience, even as we continue to strengthen the foundational element of our partnership: our longstanding people-to-people ties. These connections between our countries drive progress and expand horizons, from clean energy technologies, to AI, defense cooperation, space exploration, and ongoing coordination across priority areas of science, education, and culture. This first-ever official visit by a President of the United Arab Emirates to the United States sets a new foundation for our countries’ cooperation for decades to come

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MIL OSI USA News –

September 29, 2024
MIL-OSI USA: Representative Doggett and Senator Warren Lead Members Urging Biden Administration to Lower Price of Popular Weight-Loss Drugs

Source: United States House of Representatives – Congressman Lloyd Doggett (D-TX)

Contact: Alexis.Torres@mail.house.gov

Washington, D.C.—Today, U.S. Representative Lloyd Doggett (D-TX-37) and U.S. Senator Elizabeth Warren (D-Mass.) led an effort to urge the Biden Administration to improve American health and well-being by lowering the cost of vital weight-loss drugs. Specifically, the members are calling for Health and Human Services (HHS) Secretary Xavier Becerra to use existing legal authority to issue generic licenses for semaglutide, a prescription drug commonly used to treat obesity and diabetes and is sold under the brand names of Ozempic and Wegovy. Similarly, a coalition of more than 20 organizations has also called on Secretary Becerra to take such action.

“With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost,” the members wrote. “One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year. Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments.”

“Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices. Yet, time and again, this is debunked,” the members continued. “In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade. Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).

Under Section 1498, a more than a century-old statutory authority, the Biden Administration may lower prices by permitting generic competitors to license patented inventions in exchange for reasonable compensation to the brand-name manufacturer. By exercising this existing authority, HHS could help stabilize the health care market while meeting high consumer demands at more affordable prices.

Additional signers include Senator Jeff Merkley (D-OR) and Representatives Eleanor Holmes Norton (D-DC), Sheila Cherfilus-McCormick (FL-20), Ro Khanna (CA-17), Pramila Jayapal (WA-07), Cori Bush (MO-01), Mark Pocan (WI-02), Jan Schakowsky (IL-09), Rashida Tlaib (MI-12), Mark Takano (CA-39), Rosa DeLauro (CT-03), Greg Casar (TX-35) and Barbara Lee (CA-12).

The letter in full can be found here and below.

Dear Secretary Becerra:

We write to strongly urge you to use your existing legal authority under 28 U.S.C. § 1498 to protect the public’s health and safety to ensure reasonable prices on semaglutide, a prescription drug sold under the brand names of Ozempic and Wegovy and commonly used to treat diabetes and obesity. By utilizing your competitive licensing authority to permit generic competitors to Wegovy and Ozempic, you can stabilize supplies at a time of enormous demand and lower outrageous prices that have severely limited access to these life-changing drugs.

Approximately 38 million, or one in ten, Americans has diabetes, and an additional 100 million American adults have prediabetes. Nearly one-third of adults are overweight and 42% are obese. Diabetes and obesity are associated with heart disease, stroke, kidney disease, and more. Yet, the federal government has failed to restrain Big Pharma price gouging to ensure patients can afford the newest treatments.

With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost. One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year. Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments.

Due to budget-busting prices, only 16 states offer state employee or Medicaid coverage for these drugs. About 34% of employer plans offer coverage and only about 1% of Affordable Care Act (ACA) Marketplace plans do the same. Put another way, 99% of consumers with Marketplace plans have no access to these drugs, while 66% of workers with private employer plans and 68% of state employees and Medicaid recipients are denied access. The few insurers that offer coverage for Ozempic and Wegovy often include several restrictions to limit the financial impact. For example, the Department of Veterans Affairs requires patients with diabetes to try and fail with two or more medications before the VA will cover Ozempic.

We do not condemn the states and insurers that have limited access to these drugs under such difficult circumstances. It would be irresponsible to offer unlimited coverage when prices are also unlimited. The North Carolina State Health Plan ended coverage after spending $100 million in a single year on these drugs—spending that would have required insurance premiums to double to offset the cost. If half of all Americans with obesity could access these drugs, it would cost an estimated $411 billion a year, more than all existing prescription drug spending in the U.S.

We do not need to waste taxpayer dollars, bankrupt health systems, or deny patients access to effective treatments. We can save consumers’ health and be fiscally responsible by stopping Big Pharma monopoly abuse. These drugs cost Americans up to 15 times more than patients in peer countries like Canada, Japan, Germany, the UK, and Denmark. There is no reason for Americans to pay the world’s highest prices, substantially more than other wealthy Nations, for the exact same medicines.

Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices. Yet, time and again, this is debunked. In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade. Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).

The exorbitant prices paid by Americans are financing corporate greed, not innovation. While we recognize the important role of the private sector in research and development and support the ability to make a reasonable profit, industry interests should not outweigh meeting health and safety needs for all consumers and providing accountability to taxpayers. When manufacturers use their monopoly power to extract unfair and unjustified prices at the expense of consumers, the federal government must restrain such abuse.

Under Section 1498, the Administration has the clear authority to license generic competition on any patented invention “used or manufactured by or for the United States.” Rightly, patentholders are entitled to reasonable compensation set by the U.S. Court of Federal Claims. This law ensures Americans may access important goods while protecting the rights of inventors and providing fair compensation. For over a century, this authority has been used across technologies, ranging from fraud detection banking software and electronic passports to methods of removing hazardous waste. Section 1498 has also been used to authorize generic, lower cost drugs, and just the threat of this authority, has incentivized brand-name manufacturers to voluntarily cut prices.

You have the opportunity and responsibility to dramatically improve health care access and achieve substantial taxpayer savings by using Section 1498 to authorize generic competitors to Ozempic and Wegovy. We strongly urge you to use your clear statutory authority and stand ready to assist in your efforts to deliver long overdue relief to American taxpayers and consumers.

MIL OSI USA News –

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Pressures ahead

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

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

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

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

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

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

MIL OSI – Global Reports –

September 29, 2024
MIL-OSI USA: Schakowsky, Carson, Jayapal Introduce UNRWA Funding Bill

Source: United States House of Representatives – Congresswoman Jan Schakowsky (9th District of Illinois)

WASHINGTON – Today, Representatives Jan Schakowsky (IL-09), André Carson (IN-07), and Rep. Pramila Jayapal (WA-07) introduced H.R. 9649, the UNRWA Funding Emergency Restoration Act of 2024.This bill will end the congressionally and administratively mandated pause on funding for the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNWRA).

The United States has historically been one of the largest financial supporters of UNRWA, which serves nearly 6 million Palestinian refugees across the West Bank, East Jerusalem, Syria, Jordan, and Lebanon. In March of this year, the U.S. paused UNRWA funding after the Israeli government alleged that 12 agency employees had direct involvement in Hamas’ October 7 terrorist attack.

Following the UN’s investigation and proactive commitments made by UNRWA toward complete accountability and reform, all countries except the U.S. have resumed their UNRWA funding, including the European Union, United Kingdom, Canada, Australia, Finland, Germany, Japan, and Sweden. Approximately 1.9 million people – 9 in 10 Gazans – have been displaced at least once, and an estimated 43,580 are pregnant women. UNRWA has served as the primary humanitarian aid organization operating in Gaza, and without funding, hundreds of thousands of Gaza civilians are left vulnerable. It is estimated that over 1 million Gazans will not have enough food this month, and availability of basic hygiene items has dropped to 15%. In addition to a polio outbreak, Gazans are suffering from malnutrition and treatable diseases due to “systematic dismantling of healthcare”from bombardments on civilians.

“For decades, the United Nations Relief and Works Agency (UNRWA) has been a lifeline for Palestinians, providing food, clean water, healthcare, shelter, education, and livelihoods. Today, UNRWA remains the backbone of the humanitarian response in Gaza as it endures ongoing war and a dire humanitarian crisis. UNRWA and the United Nations have taken swift and decisive actions to address the concerns raised by the U.S. government when it paused funding in January and our allies have all resumed funding for UNRWA. The U.S. must follow suit and resume funding for this critical humanitarian agency,” said Congresswoman Jan Schakowsky. “I am proud to co-lead the UNRWA Funding Emergency Restoration Act to restore funding to UNRWA and help Gazans get the humanitarian assistance they need at a time of unprecedented crisis.”

“The scale of this devastating, man-made crisis in Gaza cannot be overstated,” said Congressman André Carson. “Providing humanitarian aid to a starving nation – with funding Congress has appropriated year after year – should not be controversial. I urge my colleagues who care about basic human rights, the rights of pregnant women, and the wellbeing of innocent children to join our bill. UNRWA has taken appropriate and proactive steps towards accountability and transparency, conducting multiple independent reviews that continue to prove the organization is both in compliance and imperative to provide the region with lifesaving assistance. It’s past time we restore funding and save lives.”

“UNRWA has played a unique and integral role in supporting the welfare of Palestinian refugees for decades. Their on-the-ground understanding is invaluable to ensure that humanitarian aid makes it to the people who need it most — in the West Bank, East Jerusalem, Syria, Jordan, Lebanon, and critically in this moment in Gaza,” said Congresswoman Pramila Jayapal. “There is no question in my mind that revoking funding for UNRWA will lead to more devastation and loss of life in Gaza. We must ensure that those acting in good faith to save civilian lives are not undermined by a lack of US funding.”

“J Street is proud to be supporting the UNRWA Emergency Restoration Act of 2024 introduced by Representatives Carson, Jayapal, and Schakowsky. We should restore funding, as all our major allies have, and stop playing politics with Palestinian welfare and Israel’s security,” said J Street President Jeremy Ben-Ami. “As UNRWA’s largest donor and Israel’s key security guarantor, the United States has a special obligation to address this crisis.”

“Gaza isn’t starving. It’s being starved,” said Hassan El-Tayyab, legislative director for Middle East policy at the Friends Committee on National Legislation. “Over two million Palestinian civilians are enduring a man-made humanitarian catastrophe, with famine and disease spreading due to blocked aid access. Meanwhile, the Biden administration and Congress continue to withhold all U.S. funding for the largest aid operation in Gaza—the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). UNRWA is the backbone of aid delivery in Gaza, ensuring that millions receive desperately needed assistance. Blocking U.S. funding for UNRWA’s critical work is a cruel and unjustified decision that only deepens Gaza’s humanitarian suffering. Congress and the Administration must act swiftly to correct this wrong by supporting the UNRWA Funding Emergency Restoration Act and restoring this urgently needed aid.”

“Restoring funding to UNRWA is a humanitarian imperative,” said Sharif Aly, President of the International Refugee Assistance Project (IRAP). “For over six decades, the United States has been one of the strongest supporters of UNRWA, which provides lifesaving aid and social services to millions of Palestinian refugees across the Middle East. Those services are desperately needed in Gaza right now, and UNRWA is the only organization with the capacity and expertise necessary to provide them at scale. The United States must uphold its commitment to the human rights of the Palestinian people and pass this legislation to reinstate funding to the humanitarian agency immediately. Failing to do so would lead to further human suffering.”

“In restoring funding for food, water, shelter, and medical care for Palestine refugees, the UNRWA Restoration Act honors this most basic and inalienable truth — that the people of Palestine are human beings, just like all of us, and all lives are sacred, not just some,” said Mara Kronenfeld, Executive Director UNRWA USA.

“UNRWA is indispensable to providing Palestinians in Gaza, the West Bank, Lebanon, Jordan, and Syria with the education, healthcare, and other critical services that are key to successful, productive livelihoods and citizenry, and a future of peace and prosperity, which should be in everyone’s interests. We support full restoration of funding to UNRWA,” said Sean Carroll, President and CEO of Anera.

“We express our gratitude to Representatives André Carson, Pramila Jayapal, and Jan Schakowsky for introducing the UNRWA Emergency Restoration Act of 2024,” said James Zogby, President of the Arab American Institute. “This lifesaving legislation aims to restore critical U.S. financial support to the United Nations Relief and Works Agency (UNRWA) by repealing previous funding restrictions and encouraging the Secretary of State to lift the temporary pause on federal funding. UNRWA plays a vital role in providing essential services to millions of Palestinian refugees across the Occupied Palestinian Territory, Lebanon, Jordan, and Syria. The ongoing genocide in Gaza has resulted in increased displacement, starvation, and death. It is both inhumane and unconscionable to continue withholding financial support from UNRWA. We recognize that the majority of Americans are horrified by the death and destruction they witness daily in Gaza and the West Bank. UNRWA’s humanitarian aid and services often mean the difference between life and death for these vulnerable populations. Restoring U.S. funding to UNRWA is urgent, just, and the only morally responsible option. We urge lawmakers to prioritize the passage of this crucial legislation and ensure that UNRWA can continue to provide life-saving assistance to Palestinian refugees in the region.”

###

MIL OSI USA News –

September 29, 2024
MIL-OSI Translation: 20.09.2024 Breslavia Work on ensuring safety continues

MIL ASI Translation. Region: Polish/Europe –

Fuente: Gobierno de Polonia en poleco.

During the afternoon meeting of the crisis staff in Wrocław, Prime Minister Donald Tusk presented conclusions from his visits to the Lubusz and West Pomeranian Voivodeships. The issue of controls on the border with Germany was also discussed, which, thanks to government intervention, should not be a problem in the event of a flood threat. It is accelerating the reconstruction program for areas affected by the flood. Lubuskie and West Pomeranian Voivodeships ready to fight the element. During the afternoon meeting of the crisis staff in Wrocław, Prime Minister Donald Tusk shared his conclusions from the visit to the Lubuskie and West Pomeranian Voivodeships. “From my tour today, it is quite clear that they are well prepared,” said the head of government. Services and residents of areas that are still waiting for the flood wave are constantly working on security measures. The Prime Minister was impressed by the commitment he could see, among others: in Nowa Sól. However, in the south of the country the situation is still difficult. The Prime Minister listened attentively to reports from representatives of services working in this area. Border controls will not be an inconvenience. The Ministry of Internal Affairs, in consultation with the German equivalent of the Ministry of Interior and Administration, has determined that the services of both countries will do everything to ensure that the border controls reintroduced by our neighbors do not cause congestion due to the flood risk. “We worked to ensure that at the moment of the peak wave there were no threats related to, for example, a traffic jam on the border bridge or border control,” said Tomasz Siemoniak. Donald Tusk thanked the Minister of Interior and Administration for efficient operation. “I asked the Minister for European Union Affairs and the Ministry of Internal Affairs and Administration to make the German side aware as quickly as possible that their decision on border control cannot interfere with our flood protection operations. I will want to know whether it has had an effect, whether the movement at the border is faster, so that we can intervene again, if necessary,” the head of government noted. The Prime Minister reminded that Poland is critical of Germany’s decision to restore control at the border. Preparations for major reconstruction In connection with the decision to appoint Marcin Kierwiński as the government plenipotentiary for the reconstruction of flood-affected areas, the Prime Minister announced accelerated actions. “Our ambition should be to turn this dramatic crisis into an opportunity; to make things better in these places than before the flood. Smarter, more modern. I believe we are able to ensure this,” declared the Prime Minister. The head of government announced that a preliminary assessment of actual damage and losses is needed. The moment the first large city – Opole – canceled the flood alarm, you can start thinking more boldly about your next steps. Funds for the reconstruction of destroyed towns come not only from the state budget and the European Union, but also – in a beautiful gesture of solidarity – from other voivodeships and cities. Appeal to local government officials and officials The challenge for local government officials is the constant need for better communication with the inhabitants of endangered areas. The Prime Minister gave the example of a resident of Opatowice, Wrocław, who wrote to him via social media, asking for information about a possible evacuation. “It’s good that I noticed it, reacted and managed to sort it out. But we must do everything to ensure that such an informal path is not necessary,” appealed Donald Tusk. The head of government emphasized how important it is to diagnose the weakest points in coordination and communication in order to improve activities. Minister of Internal Affairs and Administration Tomasz Siemoniak said that PLN 100 million has already been transferred to the voivodeships’ accounts for the payment of benefits under emergency aid. However, sometimes the problem is that the procedure for granting them is too long. “I know it’s difficult, but you have to put so much pressure on the officials that they really put their heart into it. Because if people with a flooded apartment or house found time to come to the office, it means that they really need this money urgently,” the Prime Minister asked local government officials. Officials should keep bureaucracy and procedural requirements to a minimum. Quick action against criminals preying on human tragedies. The Chief Commander of the Police informed during the staff meeting that officers had organized mobile posts to be able to respond more effectively to the needs of citizens. “Thank you very much for this ambitious intention to create mobile police stations in places where necessary, i.e. police officers who are on site – in a car, but in direct and constant contact with residents when necessary” – The Prime Minister commented on this initiative. Information was also provided about quick police interventions against people who, taking advantage of a dramatic situation, commit crimes. “Thank you for the good cooperation of all law enforcement and justice agencies. There are very good signs from the couple that they are caught immediately and sentenced immediately. I hope that this will continue,” concluded the Prime Minister. Criminals try to take advantage of people’s kindness. There are more and more fake collections on the internet. The services also operate efficiently in this area. “We are engaging the command of the Cyberspace Defense Forces component in these activities. We ask everyone to pay attention to the collection to which they want to donate money,” appealed the Deputy Prime Minister of the Ministry of National Defense, Władysław Kosiniak-Kamysz. We would like to remind you to verify collections for flood victims.

MILES AXIS

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

MIL Translation OSI

September 29, 2024
MIL-OSI Asia-Pac: Hong Kong movies shine in Berlin (with photo)

Source: Hong Kong Government special administrative region

Hong Kong movies shine in Berlin (with photo)
Hong Kong movies shine in Berlin (with photo)
*********************************************

The Hong Kong Economic and Trade Office in Berlin (HKETO Berlin) supported the film festival Making Waves – Navigators of Hong Kong Cinema in Berlin, Germany, from September 20 to 22 (Berlin time). The film festival presented six Hong Kong films, namely “Twilight of the Warriors: Walled In”, “The Lyricist Wannabe”, “Time Still Turns The Pages”, “Throw Down (Restored)”, “Love Lies”, and “Fly Me To The Moon”. Actors Philip Ng, Lo Chun-yip, actress Angela Yuen, and director Norris Wong engaged with local audiences after the screenings of the respective movies. HKETO Berlin hosted a reception before the screening of the opening film “Twilight of the Warriors: Walled In”. The Director of HKETO Berlin, Miss Jenny Szeto, delivered the opening remarks, welcoming some 100 guests. Miss Szeto thanked the Cultural and Creative Industries Development Agency, the Hong Kong International Film Festival and its local partner, the Berlin NewGen Film Festival, for bringing outstanding Hong Kong movies to Berlin. “The Government is dedicated to promoting Hong Kong’s cultural footprint and in particular, supporting the development of our film industry. Among other things, we actively encourage and support industry professionals to participate in film festivals around the world to elevate the visibility of Hong Kong films and showcase our talented creators. The Making Waves programme is a shining example of this commitment.” Launched in 2022, Making Waves – Navigators of Hong Kong Cinema is funded by the Cultural and Creative Industries Development Agency to help Hong Kong films go global. To date, it has showcased the work of many promising Hong Kong filmmakers in over 20 cities. About HKETO Berlin HKETO Berlin is the official representative of the Hong Kong Special Administrative Region Government in commercial relations and other economic and trade matters in Germany as well as Austria, the Czech Republic, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland.

Ends/Monday, September 23, 2024Issued at HKT 19:28

NNNN

MIL OSI Asia Pacific News –

September 29, 2024
MIL-OSI Economics: Wealth State Group: The financial supervisory authority BaFin warns against offers on the website wealthstategroup.com

Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

It is suspected that banking business and financial or investment services are provided on this website without the required authorisation. The company is not supervised by the alleged FISEU (European Financial Security). There is no FISEU supervisory authority and it does not supervise companies that operate in the financial sector.

Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin’s database of companies.

The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

Please be aware:

BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

MIL OSI Economics –

September 29, 2024
MIL-OSI Translation: Beat Jans in Luxembourg for the meeting of justice ministers of German-speaking countries

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

Source: Switzerland – Department of Foreign Affairs in French

Federal Department of Justice and Police

Bern, 23.09.2024 – Federal Councillor Beat Jans took part in the meeting of justice ministers of German-speaking countries in Luxembourg on 22 and 23 September 2024. The traditional meeting covered current issues such as the digitalisation of justice, the challenges of juvenile criminal law and experiences with the recognition of a third gender. On this occasion, Federal Councillor Beat Jans emphasised the importance of an efficient and accessible justice system that is in line with societal developments.

The justice ministers noted that all participating countries are currently working on digitalising their judicial systems in order to improve access to courts, but also to reduce the administrative burden.

Legislative work is also underway in Switzerland to modernise justice and make it even more efficient. This digital transition will also facilitate access to the courts, in particular through the electronic communication of judicial documents. The digitalisation of justice also represents a societal challenge: not all citizens have the necessary tools to benefit from the advantages of digital technology. Justice must therefore remain accessible through ordinary channels for these people.

Juvenile criminal law and youth protection were also on the agenda for discussion. Swiss juvenile criminal law is an example of effectiveness: in Switzerland, the adult recidivism rate of previously convicted minors is 31%, a relatively low figure in international comparison. Discussions also focused on guardianship law, more specifically in connection with the implementation of the Convention on the Rights of Persons with Disabilities. One of the issues to be resolved in the context of the work currently underway in Switzerland concerns the repeal of general guardianship.

The justice ministers also discussed the recognition of a third gender. Germany and Austria have already adopted regulations to this effect. In Switzerland, various measures are being considered to improve the situation of non-binary people. A reform in force since 2022 also allows transgender people to change their gender indication in the civil status register simply and free of charge.

The traditional meeting of German-speaking justice ministers took place this year in Luxembourg at the invitation of Luxembourg’s Minister of Justice Elisabeth Margue. In addition to Federal Councillor Beat Jans, the working visit brought together Liechtenstein’s Minister of Justice Graziella Marok-Wachter, German State Secretary for Justice Angelika Schlunck and representatives of the Austrian Ministry of Justice.

Address for sending questions

DFJP communications department, info@gs-ejpd.admin.ch, T 41 58 462 18 18

Author

Federal Department of Justice and Policehttp://www.ejpd.admin.ch

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

MIL Translation OSI

September 29, 2024
MIL-OSI Europe: Piero Cipollone: From dependency to autonomy: the role of a digital euro in the European payment landscape

Source: European Central Bank

Introductory statement by Piero Cipollone, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament

Brussels, 23 September 2024

It is a pleasure to be here today to meet the new members of this Committee and to update you on the status of the digital euro project. Let me also congratulate Madame Lalucq on her election as ECON Chair.

The ECB appreciates the open and valuable exchanges we have had with the ECON Committee on the digital euro since the beginning of the project. I am fully committed to continuing these exchanges and look forward to our future discussions.

Today I will focus on three key areas. First, Europe’s dependency on foreign players for retail payments. Second, the benefits of a digital euro for everyone, including consumers, merchants and banks. And third, the progress we have made on the digital euro project so far.

Foreign dominance in the European payment landscape

Fast-forward to the year 2030. Imagine you are at the football World Cup in Spain. You want to buy a drink, but you can only pay with Alipay. This scenario is not as far-fetched as it may seem: this summer, buying tickets for the European Football Championships in Germany was only possible with Chinese or American means of payment.

Could you imagine this happening in the United States? Going to the finals of the American football league, for example, and having no American means of payment available? I certainly cannot.

The Eurosystem will of course continue to ensure that people in Europe can pay with cash.^[1] However, cash is becoming less and less popular as digital payments and online shopping grow.^[2]

For example, more and more people are buying their groceries online. But you can’t use cash to pay for these. More often than not, the only option is PayPal or an international card scheme like Visa or Mastercard.

And more and more people are using digital wallets like PayPal or Apple Pay on their mobile phones. By 2027 these platforms are expected to handle 40% of e-commerce and 27% of in-store payments in Europe.^[3]

At the same time, the share of companies in the euro area not accepting cash has been increasing significantly.^[4]

These developments are contributing to the marginalisation of elderly and less tech-savvy people. They also make us dependent on non-European companies, which is risky.

Imagine what would happen if you could not pay digitally. For example, two weeks ago significant parts of the European card payments market were shut down for almost an entire day.^[5] Just like with electricity, gas or water, we don’t think about payments until they stop working. For energy, we had to learn this the hard way following Russia’s invasion of Ukraine. For payments, we owe it to Europeans to do better.

We need our own strong digital payments system.^[6] We can achieve this by bringing central bank money into the digital era with the introduction of a digital euro: a digital form of cash, issued by the central bank and available to everyone in the euro area.^[7]

A digital euro would strengthen Europe’s financial sovereignty and resilience because it would be built with European technology and infrastructure. It would empower Europe to independently develop and manage digital payment solutions, supporting the further deepening of the Single Market.^[8]

But most importantly, the digital euro would offer tangible benefits to all stakeholders – consumers, merchants and banks.

Benefits for European citizens

We strongly support the Single Currency Package^[9], which will ensure that cash remains widely accessible and accepted. At the same time, it will pave the way for a digital euro, which would take the advantages of cash into the digital world.

Consumers could use a digital euro for all payments, everywhere in the euro area, also when shopping online. With a digital euro, making or receiving payments would be free of charge and as easy as using cash today. Consumers would need to use only one device and remember just one password. In addition, having a single means of payment for all circumstances would make it easier for users to have an overview of their expenditure.

Importantly, a digital euro would seek to promote digital financial inclusion by ensuring that no one is left behind.^[10] It would be accessible to everyone across the euro area, via a mobile app or a physical card, so everyone can choose the technology that they are most comfortable with, no matter how old or tech-savvy they are.

Finally, a digital euro would offer the best possible privacy and data protection afforded by the current technology used in large payment systems.^[11] From the outset, ensuring user privacy has been a central focus of the digital euro project.

A digital euro would be available both online and offline.^[12] With the offline functionality, users would enjoy cash-like privacy. The details of your offline payments would only be known to you and the recipient. For online payments, too, we would ensure that your personal data remain your own. The Eurosystem will not be able to identify you, nor directly link you to your payments.^[13]

New opportunities for merchants

A digital euro would also bring new opportunities for European merchants.

Right now, merchants in Europe are largely dependent on a handful of dominant online or card payment methods, often relying on non-European providers. International card schemes currently account for 64% of card transactions in the euro area.^[14]

This costs European merchants a lot of money. They collectively pay a significant amount each year to international card schemes like Visa or Mastercard. And the cost is mostly borne by smaller merchants, who incur charges three to four times higher than those of their larger competitors.^[15]

A digital euro would include safeguards for merchants by capping the fees they pay to banks for processing payments.^[16] A digital euro would thus narrow the gap between what smaller and larger merchants are charged for digital payments.

By providing a true alternative to existing payment solutions, a digital euro would also put all merchants, large and small, in a stronger position to negotiate better conditions with other providers. Finally, it could provide a safety net for merchants in case of network or power outages, thanks to its offline functionality.^[17]

Benefits for banks

Banks would benefit too, particularly in our rapidly evolving payment landscape, in which new players – especially big tech companies from outside Europe – are increasingly entering the market. The banks would be remunerated for the services they offer, while the Eurosystem would cover the costs of the digital euro scheme and infrastructure.

When you compare a digital euro with services like PayPal or Apple Pay, the benefits for banks become even clearer. For instance, banks do not earn anything if people top up their PayPal wallet via direct debit. And with Apple Pay, banks actually have to pay a fee just to let their cards be used in Apple Wallet.

A digital euro would also open up a new source of revenue by allowing banks to provide value-added services to their customers.^[18]

We are working closely with the market to ensure that a digital euro leverages the existing standards as much as possible, which would keep costs down and support Europe’s competitive payment landscape.^[19]

Moreover, cards and applications currently available in only one or a handful of Member States could use these standards to reach customers across the euro area without the need to invest in new acceptance infrastructure. Therefore, a digital euro would mean that European payment service providers could offer their customers the convenience of using their product everywhere in the euro area – just like international card companies. It would also strengthen banks’ negotiating positions vis-à-vis these companies.

Finally, banks and other payment service providers would be responsible for distributing a digital euro, thus serving as the sole point of contact for digital euro users. So a digital euro could help banks retain their customers in the face of growing payments competition.

Project preparation phase at full speed

Let me now give you a brief update on where we stand with the project.^[20]

We started the investigation phase back in 2021 and are now at the midpoint of the preparation phase, with roughly one more year to go.

One of our key focus areas during this phase is to develop a methodology for determining the maximum amount of digital euro a person could hold at any time.^[21] The holding limits are important to ensure financial stability and prevent large-scale transfers from bank deposits to digital euro, especially during crises.

These limits would be high enough to avoid negatively affecting the digital euro user experience.^[22]

Experts from the ECB, the national central banks in the Eurosystem and national competent authorities, building on their unique know-how, have started to identify the factors that could influence the holding limit calibration, on the basis of three key areas defined in the draft Regulation: usability, monetary policy and financial stability.^[23]

While the exact holding limits would be defined closer to the potential launch and on the basis of a well-defined governance process enshrined in the draft Regulation,^[24] we are committed to ensuring that our methodology would be predictable. This is why ECB experts regularly talk to consumers, merchants and financial institutions, to keep everyone updated on the technical work and to gather feedback.

We are also working on finalising the digital euro rulebook, which will provide a clear set of rules and standards to ensure a consistent user experience across the euro area.^[25] This will also help private companies roll out their own solutions.^[26] We are working closely with all the representatives in the Rulebook Development Group, including consumers, retailers, banks and non-bank associations.

In addition, we are currently in the process of selecting potential providers^[27] who could develop a digital euro platform and infrastructure.^[28]

Finally, we are also looking closely at other key technical aspects, such as privacy and offline functionality. We will keep you updated on all these developments.

By the end of 2025 the ECB’s Governing Council will decide whether to move to the next phase of the project. But the Governing Council will not take any decision about the issuance of a digital euro before the legislative act has been adopted.

Conclusion

To conclude, introducing a digital euro across the euro area would take time, but it is key for Europe’s future. Countries across the world are exploring retail central bank digital currencies. If we want to be standard-setters and keep our position among the frontrunners, we need to move swiftly.

A digital euro is a common European project, which is why we are talking to all the relevant stakeholders and carefully listening to their views and concerns. I also remain committed to engaging regularly with the European Parliament.

Introducing a digital euro that all banks and other providers make available to their customers and that all merchants accept, everywhere in the euro area, would take several years. Market participants need certainty to invest in the digital euro and this requires coordination between co-legislators and the central bank.

I appreciate all the work that the ECON Committee has done on the digital euro so far. The legislative discussions are now in your hands. The ECB is of course ready to engage with the negotiating team and to provide continued technical support when needed.

It is important that the legislative and technical work advance in parallel, swiftly and in close cooperation. Together, we can ensure that the digital euro strengthens Europe’s financial sovereignty and serves all its citizens.

MIL OSI Europe News –

September 29, 2024

Category: Germany

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Updates to this page

1 Global challenges need global answers

2 Europe is not a weak spot – it is a source of strength

3 What it will take to move forward

Introductory statement by Piero Cipollone, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament

Foreign dominance in the European payment landscape

Benefits for European citizens

New opportunities for merchants

Benefits for banks

Project preparation phase at full speed

Conclusion

Pressures ahead

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