Partisan squabbling isn’t just annoying – it’s also bad for business.
That’s what my colleagues and I found in a recent study on how uncertainty in environmental policy affects business investment.
First, we analyzed more than 300 million newspaper articles, looking for keywords related to environmental policy uncertainty. We found that this uncertainty spikes around election seasons and has nearly doubled over the past decade.
Then we looked at business investment rates – a common way to gauge a company’s financial health – at companies in affected sectors, such as those in the agriculture, mining, energy and automotive industries. We found that environmental policy uncertainty lowered those companies’ business investment rates by 0.010%.
That might not sound like a lot, but as economists like me know, small sums add up over time.
For example, the rise in environmental policy uncertainty in the run-up to the 2008 presidential election was linked with a one-time drop of the investment rate of 25% for companies affected by environmental policy, we found. This effect was larger than the uncertainty associated with defense, health and finance policy.
But my team also found a silver lining. Policy uncertainty had much less of an effect on business investment when control of Congress was divided and policy changes required bipartisan support, we discovered.
When the same political party controlled both chambers of Congress, environmental policy uncertainty was associated with a 0.013% decrease in investment rates. But when Congress was split, this decrease shrank to a much smaller 0.002%.
Why it matters
Because policy uncertainty tends to spike around elections, our results suggest that the current political environment is creating headwinds for business investment.
Our study also suggests that policies designed to spur business investment may be less effective than previously thought, because of the uncertainty they introduce.
Take, for example, the Inflation Reduction Act, passed in 2021, and the bipartisan infrastructure law of 2022. Both were crafted to encourage investment in clean-energy technologies.
But uncertainty over whether these packages would pass in the first place – and, if so, what these policies would include – may have deterred investment before they went into effect. And uncertainty about what aspects of the laws will continue after the election could also depress business investment.
A degree of uncertainty may be built into the democratic process. After all, the faster and more secretive a government is, the less accountable it is to the public. If you think of it that way, some uncertainty is an unavoidable cost of a healthy policymaking process.
Our study puts a price tag on these costs and reminds policymakers that political infighting is a drag on the economy. Our results do suggest one promising path forward: bipartisanship.
What’s next
Because there’s so much variety in environmental policies, our team is now doing research to see whether businesses respond differently to uncertainty in “carrot” policies – such as subsidies or tax breaks – versus “stick” policies, such as fines or other punishments.
Answering this question will help policymakers minimize the effects of uncertainty.
It’s also an open question whether newspaper articles convey information to business leaders or simply reflect the information they already have. If it’s the latter, media coverage may not be a great measure of the uncertainty businesses face.
To address this concern, we’re working to develop ways to measure uncertainty based on earnings call transcripts instead of newspaper articles. These could be a more direct way to gauge the uncertainties influencing business decisions.
The Research Brief is a short take about interesting academic work.
Charles Sims does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Two-thirds of the world’s food comes today from just nine plants: sugar cane, maize (corn), rice, wheat, potatoes, soybeans, oil-palm fruit, sugar beet and cassava. In the past, farmers grew tens of thousands of crop varieties around the world. This biodiversity protected agriculture from crop losses caused by plant diseases and climate change.
Today, seed banks around the world are doing much of the work of saving crop varieties that could be essential resources under future growing conditions. The Svalbard Global Seed Vault in Norway supports them all. It is the world’s most famous backup site for seeds that are more precious than data.
Tens of thousands of new seeds from around the world arrived at the seed vault on Svalbard, a Norwegian archipelago in the Arctic Ocean, in mid-October 2024. This was one of the largest deposits in the vault’s 16-year history.
And on Oct. 31, crop scientists Cary Fowler and Geoffrey Hawtin, who played key roles in creating the Global Seed Vault, received the US$500,000 World Food Prize, which recognizes work that has helped increase the supply, quality or accessibility of food worldwide.
The Global Seed Vault has been politically controversial since it opened in 2008. It is the most visible site in a global agricultural research network associated with the United Nations and funders such as the World Bank.
These organizations supported the Green Revolution – a concerted effort to introduce high-yielding seeds to developing nations in the mid-20th century. This effort saved millions of people from starvation, but it shifted agriculture in a technology-intensive direction. The Global Seed Vault has become a lightning rod for critiques of that effort and its long-term impacts.
I have visited the vault and am completing a book about connections between scientific research on seeds and ideas about immortality over centuries. My research shows that the Global Seed Vault’s controversies are in part inspired by religious associations that predate it. But these cultural beliefs also remain essential for the vault’s support and influence and thus for its goal of protecting biodiversity.
The Global Seed Vault gives scientists the tools they may need to breed crops that can cope with a changing climate.
Backup for a global network
Several hundred million seeds from thousands of species of agricultural plants live inside the Global Seed Vault. They come from 80 nations and are tucked away in special metallic pouches that keep them dry.
The vault is designed to prolong their dormancy at zero degrees Fahrenheit (-18 degrees Celsius) in three ice-covered caverns inside a sandstone mountain. The air is so cold inside that when I entered the vault, my eyelashes and the inside of my nose froze.
The Global Seed Vault is owned by Norway and run by the Nordic Genetic Resources Centre. It was created under a U.N. treaty governing over 1,700 seed banks, where seeds are stored away from farms, to serve as what the U.N. calls “the ultimate insurance policy for the world’s food supply.”
This network enables nations, nongovernmental organizations, scientists and farmers to save and exchange seeds for research, breeding and replanting. The vault is the backup collection for all of these seed banks, storing their duplicate seeds at no charge to them.
The seed vault’s cultural meaning
The vault’s Arctic location and striking appearance contribute to both its public appeal and its controversies.
In fact, however, the archipelago of Svalbard has daily flights to other Norwegian cities. Its cosmopolitan capital, Longyearbyen, is home to 2,700 people from 50 countries, drawn by ecotourism and scientific research – hardly a well-hidden site for covert activities.
Because of its mission to preserve seeds through potential disasters, media regularly describe the Global Seed Vault as the “doomsday vault,” or a “modern Noah’s Ark.” Singled out based on its location, appearance and associations with Biblical myths such as the Flood, the Garden of Eden and the apocalypse, the vault has acquired a public meaning unlike that of any other seed bank.
The politics of seed conservation
One consequence is that the vault often serves as a lightning rod for critics who view seed conservation as the latest stage in a long history of Europeans removing natural resources from developing nations. But these critiques don’t really reflect how the Global Seed Vault works.
The vault and its sister seed banks don’t diminish cultivation of seeds grown by farmers in fields. The two methods complement one another, and seed depositors retain ownership of their seeds.
Another misleading criticism argues that storing seeds at Svalbard prevents these plants from adapting to climate change and could render them useless in a warmer future. But storing seeds in a dormant state actually mirrors plants’ own survival strategy.
Dormancy is the mysterious plant behavior that “protects against an unpredictable future,” according to biologist Anthony Trewavas. Plants are experts in coping with climate unpredictability by essentially hibernating.
Seed dormancy allows plants to hedge their bets on the future; the Global Seed Vault extends this state for decades or longer. While varieties in the field may become extinct, their banked seeds live to fight another day.
Storing more than seeds
In 2017, a delegation of Quechua farmers from the Peruvian Andes traveled to Svalbard to deposit seeds of their sacred potato varieties in the vault. In songs and prayers, they said goodbye to the seeds as their “loved ones” and “endangered children.” “We’re not just leaving genes, but also a family,” one farmer told Svalbard officials.
The farmers said the vault would protect what they called their “Indigenous biocultural heritage” – an interweaving of scientific and cultural value, and of plants and people, that for the farmers evoked the sacred.
People from around the world have sought to attach their art to the Global Seed Vault for a similar reason. In 2018, the Svalbard Seed Cultures Ark began depositing artworks that attach stories to seeds in a nearby mine.
Pope Francis sent an envoy with a handmade copy of a book reflecting on the pope’s message of hope to the world during the COVID-19 pandemic. Japanese sculptor Mitsuaki Tanabe created a 9-meter-long steel grain of rice for the vault’s opening and was permitted to place a miniature version inside.
Seeds sleeping in Svalbard are far from their home soil, but each one is enveloped in an invisible web of the microbes and fungi that traveled with it. These microbiomes are still interacting with each seed in ways scientists are just beginning to understand.
I see the Global Seed Vault as a lively and fragile place, powered not by money or technology but by the strange power of seeds. The World Food Prize once again highlights their vital promise.
Adriana Craciun does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
My three daughters and I arrived in Michigan from Pakistan in 2000.
Moving here was my choice, and I followed the legal process. Before the move, I had often been to the United States. I was familiar with the culture and spoke fluent English, so I thought I was prepared.
Resuming my career as a physician in the U.S. was arduous, but I finally passed all the qualifying exams and completed a psychiatry residency at Michigan State University in 2006. After finishing my studies, I stayed on as faculty.
Of course, there is nothing new or particularly unique about my family’s experience. Immigration, whether it is out of choice or forced by conflict, has always been part of the American experience. After all, the U.S. Constitution was signed by seven first-generation immigrants.
I teach cultural psychiatry to medical students and residents, specifically how to provide culturally appropriate care to Muslim patients. After more than 20 years in Michigan, I’m deeply rooted in the Muslim and immigrant community, and I’ve seen firsthand how anxious and uncertain my community is about the 2024 presidential election.
In the first half of 2024, the Michigan Chapter of the Council on American-Islamic Relations documented 239 complaints of discrimination against Muslims, an 81% increase over the same period in 2023. In the report, CAIR-MI Executive Director Dawud Walid attributed the uptick to “policies of elected officials, rhetoric of candidates running for office, along with victim blaming by some political pundits.”
A key Arab American political action committee based in Michigan refused to endorse either candidate this cycle. Although the PAC typically backs Democrats, this year it said “neither candidate represents our hopes and dreams as Arab Americans.”
In late September, a national group of three dozen Muslim American scholars and imams signed an open letter calling on Muslims not to vote for Democratic nominee Kamala Harris.
“We want to be absolutely clear,” the letter reads, “don’t stay home and skip voting. This year, make a statement by voting third party for the presidential ticket.”
I know my vote is my voice, and I fully intend to participate in the electoral process. But I can’t trust any of the candidates to create a safe haven for my family – a place where my daughters and I can thrive and live our American dream.
Farha Abassi does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
The Sullivans is scheduled for an independent deployment to U.S. 5th fleet area of operations where it will conduct maritime security missions to support stability and freedom of navigation in the region. The Sullivans’ crew is trained and ready to engage in a variety of activities, from escorting ships to participating in joint exercises with allied and partner navies in the Middle East.
This deployment, the ship’s fifth deployment in three years, reflects the Navy’s ongoing commitment to ensuring a strong U.S. presence in critical areas and further bolsters the U.S. deterrence posture in the region, providing increased options to the combatant commander.
Earlier this year, The Sullivans returned from the Eastern Atlantic and Mediterranean Sea. The ship provided Ballistic Missile Defense (BMD) for Commander, U.S. European Command amidst the Israel-Hamas conflict. The Sullivans, alongside USS Delbert D. Black (DDG 119), additionally provided on-station relief for USS Thomas Hudner (DDG 116) and USS Mcfaul (DDG 74), allowing both ships to return home after multiple deployment extensions. The crew provided escort to the USS Gerald R. Ford Carrier Strike Group and USS Bataan Amphibious Readiness Group, and acted as Surface Action Group Commander, along with other U.S. Destroyers, while Gerald R. Ford conducted a port visit to Souda Bay, Crete.
TYLER, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (NASDAQ: SBSI) (the “Company” or “Southside”), the parent company of Southside Bank, announced today that it is transferring the listing of its common stock to the New York Stock Exchange (“NYSE”) from the Nasdaq Global Select Market (“Nasdaq”). Southside’s common stock is expected to begin trading on the NYSE on November 15, 2024, under the existing ticker symbol of “SBSI”. Southside expects its common stock to continue to trade on Nasdaq until the close of the market on November 14, 2024.
“We are excited to announce the transfer of Southside’s stock listing to the NYSE,” said Lee R. Gibson, Chief Executive Officer of Southside Bancshares, Inc. “Our Texas-based franchise markets include some of the strongest and fastest growing markets in the country. We look forward to joining many of the world’s leading and most prestigious companies that trade on the NYSE and are excited to leverage the NYSE platform and trading model for the benefit of our shareholders.”
Since its initial public offering on Nasdaq in 1998, Southside Bancshares has seen continuous and significant growth – surpassing $1 billion in assets in the year 2000 and reaching nearly $8.5 billion in assets by the end of 2023. Beginning with a single branch in Tyler, Texas, the bank has grown to over 55 locations including 53 branches and two loan offices throughout East, North, Central, and Southeast Texas.
“We are thrilled to welcome Southside Bancshares, Inc. to the New York Stock Exchange,” said Chris Taylor, Global Head of Listings, NYSE. “With its deep roots in Texas and history of supporting local economies, Southside is a welcome addition to our NYSE community, which is home to numerous Texas-based companies and many of the world’s leading banks.”
ABOUT SOUTHSIDE BANCSHARES, INC.
Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $8.36 billion in assets. Through its wholly-owned subsidiary, Southside Bank, Southside currently operates 53 branches, two loan production offices, and a network of 72 ATMs/ITMs throughout East Texas, Southeast Texas, Dallas/Fort Worth and Austin. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, treasury management, wealth management, trust services, brokerage services, and an array of online and mobile services.For more information about Southside Bank, visithttps://www.southside.com/.
Remember, remember the fifth of November… the date free Family Hubs Terrific Tuesdays launch at the Potteries Centre.
The groups, run by Stoke-on-Trent City Council’s Family Hubs team, will start on Tuesday 5 November in the Community Room on the lower mall of the Potteries Centre, Hanley, ST1 1PP.
Family Hubs offer bespoke advice and guidance to local communities, empowering families and offering opportunities for fun, education and support where needed.
They are running as part of a project being delivered with over £3.5 million of Government funding. Family Hubs are also an important part of the city council’s Family Matters programme, which provides families in the city with all the tips, advice and opportunities they need to thrive.
Councillor Sarah Hill, cabinet member for children’s services, said: “We want our Family Hubs programme to be easily accessible for families across the city. These new groups really support that aim as well as driving footfall into the city centre, supporting the local economy and businesses.
“Family Hubs are a really important part of our Family Matters programme, which is already helping to reduce the number of children in care after just nine months. Extra groups running from the Potteries Centre mean that more people can tap into the advice, guidance and fun on offer and have access to a wider range of services and activities.”
The new sessions build on the recent launch of Chell Heath Family Hub, which officially launched on Thursday 24 October, at the site of the former Stoke North Children’s Centre, Bishop Road, Chell Heath.
All of the groups running from the Potteries Centre are free to join and there is no need for residents to book. Sessions include:
Sensory fun for Babies, 9.30am – 11am A gentle, fun session with lights, music and learning through sensory experiences for babies 0 to 12 months.
Playful Parenting, 1pm – 2.30pm Bring your toddler along for some fun play. Learn about how you can support your child through play, create the best home learning environment and provide a strong base for future learning. For toddlers 1 – 4 years.
Make and take, 3.30pm – 4.30pm Have some crafty fun and make something to take home and treasure. For children aged 4 – 11 years.
Family Hubs are currently open in Tunstall, Normacot, Bentilee, Chell Heath and Shelton with other sites currently being developed. For 24/7 access to services, or for families that prefer to access online, the city council’s Digital Family Hub is available at https://familyhub.stoke.gov.uk/
On Nov. 3, 1994, space shuttle Atlantis took to the skies on its 13th trip into space. During the 11-day mission, the STS-66 crew of Commander Donald R. McMonagle, Pilot Curtis L. Brown, Payload Commander Ellen Ochoa, and Mission Specialists Joseph R. Tanner, Scott E. Parazynski, and French astronaut Jean-François Clervoy representing the European Space Agency (ESA) operated the third Atmospheric Laboratory for Applications and Sciences (ATLAS-3), and deployed and retrieved the U.S.-German Cryogenic Infrared Spectrometers and Telescopes for the Atmosphere-Shuttle Pallet Satellite (CRISTA-SPAS), as part of NASA’s Mission to Planet Earth. The remote sensing instruments studied the Sun’s energy output, the atmosphere’s chemical composition, and how these affect global ozone levels, adding to the knowledge gained during the ATLAS-1 and ATLAS-2 missions. Left: Official photo of the STS-68 crew of Jean-François Clervoy, left, Scott E. Parazynski, Curtis L. Brown, Joseph R. Tanner, Donald R. McMonagle, and Ellen Ochoa. Middle: The STS-66 crew patch. Right: The ATLAS-3 payload patch. In August 1993, NASA named Ochoa as the ATLAS-3 payload commander, and in January 1994, named the rest of the STS-66 crew. For McMonagle, selected as an astronaut in 1987, ATLAS-3 marked his third trip into space, having flown on STS-39 and STS-54. Brown, also from the class of 1987, previously flew on STS 47, while Ochoa, selected in 1990, flew as a mission specialist on STS-56, the ATLAS-2 mission. For Tanner, Parazynski, and Clervoy, all from the Class of 1992 – the French space agency CNES previously selected Clervoy as one of its astronauts in 1985 before he joined the ESA astronaut cadre in 1992 – STS-66 marked their first spaceflight. Left: Schematic illustration of ATLAS-3 and its instruments. Right: Schematic illustration of CRISTA-SPAS retrievable satellite and its instruments. The ATLAS-3 payload consisted of six instruments on a Spacelab pallet and one mounted on the payload bay sidewall. The pallet mounted instruments included Atmospheric Trace Molecule Spectroscopy (ATMOS), Millimeter-Wave Atmospheric Sounder (MAS), Active Cavity Radiometer Irradiance Monitor (ACRIM), Measurement of the Solar Constant (SOLCON), Solar Spectrum Measurement from 1,800 to 3,200 nanometers (SOLSCAN), and Solar Ultraviolet Spectral Irradiance Monitor (SUSIM). The Shuttle Solar Backscatter Ultraviolet (SSBUV) instrument constituted the payload bay sidewall mounted experiment. While the instruments previously flew on the ATLAS-1 and ATLAS-2 missions, both those flights took place during the northern hemisphere spring. Data from the ATLAS-3’s mission in the fall complemented results from the earlier missions. The CRISTA-SPAS satellite included two instruments, the CRISTA and the Middle Atmosphere High Resolution Spectrograph Investigation (MAHRSI). Left: Space shuttle Atlantis at Launch Pad 39B at NASA’s Kennedy Space Center in Florida. Middle: Liftoff of Atlantis on STS-66. Right: Atlantis rises into the sky. Following its previous flight, STS-46 in August 1992, Atlantis spent one and a half years at the Rockwell plant in Palmdale, California, undergoing major modifications before arriving back at KSC on May 29, 1994. During the modification period, workers installed cables and wiring for a docking system for Atlantis to use during the first Shuttle-Mir docking mission in 1995 and equipment to allow it to fly Extended Duration Orbiter missions of two weeks or longer. Atlantis also underwent structural inspections and systems upgrades including improved nose wheel steering and a new reusable drag chute. Workers in KSC’s Orbiter Processing Facility installed the ATLAS-3 and CRISTA-SPAS payloads and rolled Atlantis over to the Vehicle Assembly Building on Oct. 4 for mating with its External Tank and Solid Rocket Boosters. Atlantis rolled out to Launch Pad 39B six days later. The six-person STS-66 crew traveled to KSC to participate in the Terminal Countdown Demonstration Test, essentially a dress rehearsal for the launch countdown, on Oct. 18. They returned to KSC on Oct. 31, the same day the final countdown began. Following a smooth countdown leading to a planned 11:56 a.m. EST liftoff on Nov. 3, 1994, Atlantis took off three minutes late, the delay resulting from high winds at one of the Transatlantic Abort sites. The liftoff marked the third shuttle launch in 55 days, missing a record set in 1985 by one day. Eight and a half minutes later, Atlantis delivered its crew and payloads to space. Thirty minutes later, a firing of the shuttle’s Orbiter Maneuvering System (OMS) engines placed them in a 190-mile orbit inclined 57 degrees to the equator. The astronauts opened the payload bay doors, deploying the shuttle’s radiators, and removed their bulky launch and entry suits, stowing them for the remainder of the flight. Left: Atlantis’ payload bay, showing the ATLAS-3 payload and the CRISTA-SPAS deployable satellite behind it. Middle: European Space Agency astronaut Jean-François Clervoy uses the shuttle’s Remote Manipulator System (RMS) to grapple the CRISTA-SPAS prior to its release. Right: Clervoy about to release CRISTA-SPAS from the RMS. The astronauts began to convert their vehicle into a science platform, and that included breaking up into two teams to enable 24-hour-a-day operations. McMonagle, Ochoa, and Tanner made up the Red Team while Brown, Parazynski, and Clervoy made up the Blue Team. Within five hours of liftoff, the Blue Team began their sleep period while the Red Team started their first on orbit shift by activating the ATLAS-3 instruments, the CRISTA-SPAS deployable satellite, and the Remote Manipulator System (RMS) or robotic arm in the payload bay and some of the middeck experiments. The next day, Clervoy, operating the RMS, grappled CRISTA-SPAS, lifted it from its cradle in the payload bay, and while Atlantis flew over Germany, deployed it for its eight-day free flight. McMonagle fired Atlantis’ thrusters to separate from the satellite. Left: Ellen Ochoa and Donald R. McMonagle on the shuttle’s flight deck. Middle: European Space Agency astronaut Jean-François Clervoy in the commander’s seat during the mission. Right: Scott E. Parazynski operates a protein crystallization experiment in the shuttle middeck. Left: Joseph R. Tanner operates a protein crystallization experiment. Middle: Curtis L. Brown operates a microgravity acceleration measurement system. Right: Ellen Ochoa uses the shuttle’s Remote Manipulator System to grapple CRISTA-SPAS following its eight-day free flight. For the next eight days, the two teams of astronauts continued work with the ATLAS instruments and several middeck and payload bay experiments such as protein crystal growth, measuring the shuttle microgravity acceleration environment, evaluating heat pipe performance, and a student experiment to study the Sun that complemented the ATLAS instruments. On November 12, the mission’s 10th day, the astronauts prepared to retrieve the CRISTA-SPAS satellite. For the retrieval, McMonagle and Brown used a novel rendezvous profile unlike previous ones used in the shuttle program. Instead of making the final approach from in front of the satellite, called the V-bar approach, Atlantis approached from below in the so-called R-bar approach. This is the profile Atlantis planned to use on its next mission, the first rendezvous and docking with the Mir space station. It not only saved fuel but also prevented contamination of the station’s delicate sensors and solar arrays. Once within 40 feet of CRISTA-SPAS, Ochoa reached out with the RMS, grappled the satellite, and then berthed it back in the payload bay. A selection from the 6,000 STS-66 crew Earth observation photographs. Left: Deforestation in the Brazilian Amazon. Middle left: Hurricane Florence in the North Atlantic. Middle right: The Ganges River delta. Right: The Sakurajima Volcano in southern Japan. As a Mission to Planet Earth, the STS-66 astronauts spent considerable time looking out the window, capturing 6,000 images of their home world. Their high inclination orbit enabled views of parts of the planet not seen during typical shuttle missions. Left: The inflight STS-66 crew photo. Right: Donald R. McMonagle, left, and Curtis R. Brown prepare for Atlantis’ deorbit and reentry. On flight day 11, with most of the onboard film exposed and consumables running low, the astronauts prepared for their return to Earth the following day. McMonagle and Brown tested Atlantis’ reaction control system thrusters and aerodynamic surfaces in preparation for deorbit and descent through the atmosphere, while the rest of the crew busied themselves with shutting down experiments and stowing away unneeded equipment. Left: Atlantis makes a perfect touchdown at California’s Edwards Air Force Base. Middle: Atlantis deploys the first reusable space shuttle drag chute. Right: Mounted atop a Shuttle Carrier Aircraft, Atlantis departs Edwards for the cross-country trip to NASA’s Kennedy Space Center in Florida. On Nov. 14, the astronauts closed Atlantis’ payload bay doors, donned their launch and entry suits, and strapped themselves into their seats for entry and landing. Tropical Storm Gordon near the KSC primary landing site forced a diversion to Edwards Air Force Base (AFB) in California. The crew fired Atlantis’ OMS engines to drop out of orbit. McMonagle piloted Atlantis to a smooth landing at Edwards, ending the 10-day 22-hour 34-minute flight, Atlantis’ longest flight up to that time. The crew had orbited the Earth 174 times. Workers at Edwards safed the vehicle and placed it atop a Shuttle Carrier Aircraft for the ferry flight back to KSC. The duo left Edwards on Nov. 21, and after stops at Kelly Field in San Antonio and Eglin AFB in the Florida panhandle, arrived at KSC the next day. Workers there began preparing Atlantis for its next flight, STS-71 in June 1995, the first Shuttle-Mir docking mission. Meanwhile, a Gulfstream jet flew the astronauts back to Ellington Field in Houston for reunions with their families. As it turned out, STS-66 flew Atlantis’ last solo flight until STS-125 in 2009, the final Hubble Servicing Mission. The 16 intervening flights, and the three that followed, all docked with either Mir or the International Space Station. “The mission not only met all our expectations, but all our hopes and dreams as well,” said Mission Scientist Timothy L. Miller of NASA’s Marshall Space Flight Center in Huntsville, Alabama. “One of its high points was our ability to receive and process so much data in real time, enhancing our ability to carry out some new and unprecedented cooperative experiments.” McMonagle said of STS-66, “We are very proud of the mission we have just accomplished. If there’s any one thing we all have an interest in, it’s the health of our planet.” Enjoy the crew narrate a video about the STS-66 mission.
HOUSTON — U.S. Immigration and Customs Enforcement’s Enforcement and Removal Operations Houston Field Office removed 25 unlawfully present noncitizens from the United States in October who were convicted of at least one child sex offense while in the country illegally.
Notable among the noncitizens removed during the month were two documented gang members and a Mexican national who was convicted of a child sex offense and removed from the United States in 2020, only to illegally reenter the country and be convicted in 2021 of committing a second sex offense involving minors.
“The 25 noncitizens that ERO Houston removed last month illegally entered the country and then proceeded to prey on the innocence and vulnerability of our children,” said ERO Houston Field Office Director Bret A. Bradford. “Unconscionably, one of the noncitizens that we removed was convicted of a child sex offense and deported and then he illegally reentered the country and committed a second child sex offense. Our immigration officers live and raise families in this community, and they take their mission to protect the residents of southeast Texas from dangerous criminal noncitizens like this personally. Last month’s results are just another example of their unyielding commitment to apprehend and remove threats to public safety to protect our communities from harm and restore integrity to our nation’s immigration system.”
Among the 25 illegally present child sex offenders removed by ERO Houston in October were:
A 37-year-old twice-deported Mexican national removed Oct. 16 who is a documented Paisas gang member with prior criminal convictions for committing lewd acts against a child under the age of 14 and illegal re-entry.
A 50-year-old three-time deported Mexican national removed Oct. 17 with convictions for sexual indecency with a child, cocaine trafficking, DWI (twice), assault, unlawful carrying a weapon, and illegal re-entry.
A 44-year-old Mexican national removed Oct. 18 who is a documented Colonia Durango gang member with prior criminal convictions for aggravated sexual assault of a minor, sexual indecency with a child, and larceny (twice).
A 37-year-old twice-deported Mexican national removed Oct. 16 with convictions for sexual indecency with a child and sexual assault of a child.
A 27-year-old Salvadoran national removed Oct. 2 with convictions for sexual assault of a child, resisting arrest, and providing false information to law enforcement.
A 58-year-old twice-deported Salvadoran national removed Oct. 2 with convictions for aggravated sexual assault of a child and illegal reentry.
A 33-year-old twice-deported Ecuadorian national removed Oct. 22 with convictions for unlawful surveillance / installing an imaging device for sexual arousal in a manner to injure a child under the age of 17, and illegal reentry.
A 20-year-old Guatemalan national removed Oct. 28 with convictions for sexual indecency with a child under the age of 14.
A 30-year-old twice-deported Guatemalan national removed Oct. 28 with convictions for incest with a minor under the age of 13 and illegal reentry.
A 52-year-old twice-deported Salvadoran national removed Oct. 23 with convictions for indecent liberties with a child, DWI, assault of a government employee, assault, and illegal reentry.
The ERO Houston Field Office is responsible for conducting immigration enforcement in an area of responsibility that spans 52 counties in east Texas stretching down the Louisiana state line and Texas Gulf Coast from Shelby and Hill Counties in the north to Refugio and Live Oak Counties in the south. In fiscal year 2023, ERO Houston arrested 13,595 illegally present noncitizens including 7,100 noncitizens with criminal convictions and 2,427 noncitizens with pending criminal charges. During that same fiscal year, ERO Houston removed 13,488 illegally present noncitizens including 6,015 noncitizens with criminal convictions and 1,092 noncitizens with pending criminal charges.
For more news and information on how the ERO Houston Field Office carries out its immigration enforcement mission in Southeast Texas follow us on X, formerly known as Twitter, at @EROHouston.
As one of U.S. Immigration and Customs Enforcement’s (ICE) three operational directorates, Enforcement and Removal Operations (ERO) is the principal federal law enforcement authority in charge of domestic immigration enforcement. ERO’s mission is to protect the homeland through the arrest and removal of those who undermine the safety of U.S. communities and the integrity of U.S. immigration laws, and its primary areas of focus are interior enforcement operations, management of the agency’s detained and non-detained populations, and repatriation of noncitizens who have received final orders of removal. ERO’s workforce consists of more than 7,700 law enforcement and non-law enforcement support personnel across 25 domestic field offices and 208 locations nationwide, 30 overseas postings, and multiple temporary duty travel assignments along the border.
Source: Organization for Security and Co-operation in Europe – OSCE
Headline: Moldova’s well-managed presidential run-off offered voters genuine choice, despite legal deficiencies, unbalanced media coverage and impact of foreign interference, international observers say
Moldova’s well-managed presidential run-off offered voters genuine choice, despite legal deficiencies, unbalanced media coverage and impact of foreign interference, international observers say | OSCE
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Home Newsroom News and press releases Moldova’s well-managed presidential run-off offered voters genuine choice, despite legal deficiencies, unbalanced media coverage and impact of foreign interference, international observers say
Source: Hong Kong Government special administrative region
The Centre for Health Protection (CHP) of the Department of Health (DH) is today (November 4) investigating an outbreak of acute gastroenteritis (AGE) involving a study tour organised by a primary school in Tuen Mun between November 1 and 2, and hence reminded the public and management of institutions to maintain personal and environmental hygiene against AGE.
The outbreak involves 26 pupils, comprising 15 boys and 11 girls aged 10 to 11. They developed vomiting, diarrhea, abdominal pain and fever since November 1. Two of the affected pupils sought medical attention and none required hospitalisation. All patients are in stable condition.
The CHP’s epidemiological investigation revealed that one of the pupils in the outbreak had first vomited during their visiting activity on November 1. Other pupils exposed to the vomiting incident developed gastrointestinal symptoms subsequently. The CHP considers that the outbreak may be caused by person-to-person transmission or environmental contamination. Investigations are ongoing.
A spokesman for the CHP reminded that alcohol-based handrub should not substitute hand hygiene with liquid soap and water, as alcohol does not effectively kill some viruses frequently causing AGE, e.g. norovirus. Members of the public are advised to take heed of the following preventive measures against gastroenteritis:
Ensure proper personal hygiene; Wash hands thoroughly before handling food and eating, after using the toilet or after changing diapers; Wear gloves when disposing of vomitus or faecal matter, and wash hands afterwards; Clean and disinfect contaminated areas or items promptly and thoroughly with diluted household bleach (by adding one part of bleach containing 5.25 per cent sodium hypochlorite to 49 parts of water). Wash hands thoroughly afterwards; Maintain good indoor ventilation; Pay attention to food hygiene; Use separate utensils to handle raw and cooked food; Avoid food that is not thoroughly cooked; Drink boiled water; and Do not patronise unlicensed food premises or food stalls.
The public may visit the CHP’s website (www.chp.gov.hk) or call the DH’s Health Education Infoline (2833 0111) for more information.
Manitoba Government Releases Strategy to Secure Province’s Mineral Future
Responsible Mining, Opportunity Ready: Mineral Powerhouse Strategy Sets Path Forward to Spur Mineral Economic Growth: Moses, Bushie
The Manitoba government has released its Securing Our Critical Mineral Future strategy to stand up critical minerals projects faster, while respecting the environment and forming strong Indigenous partnerships, Economic Development, Investment, Trade and Natural Resources Minister Jamie Moses and Municipal and Northern Relations and Indigenous Economic Development Minister Ian Bushie announced today.
“This Critical Minerals Strategy will solidify Manitoba as a world leader in responsible mineral development – which in turn brings good jobs to Manitoba,” said Moses. “No matter the result of tomorrow’s US election, our strategy will ensure Manitoba is a secure and responsible trade partner for years to come.”
Home to 30 of 34 critical minerals identified by the federal government as critical for promoting green energy and sustainable economic success, Manitoba is positioned to supply the materials needed to power the North American low-carbon economy, noted Moses. The strategy aims to attract investment and create good jobs in Manitoba. Key actions include the creation of a dedicated, single window Critical Mineral Office, investments in high-priority regional infrastructure projects and the development of a provincial revenue-sharing model for mining in partnership with Indigenous nations.
“Indigenous and northern communities can be the backbone to a successful mining sector, setting those communities and the Manitoba economy on the best path forward,” said Bushie. “By taking a nation-to-nation approach, this strategy will unlock the benefits of critical minerals for Indigenous nations through healthy resource development. This strategy will ensure Indigenous Peoples’ voices are heard and that they receive fairer financial value within the resource sector in order to advance economic reconciliation.”
“Manitoba needs to get new mines brought online faster,” said John Morris, co-director, Mining Association of Manitoba Inc. (MAMI). “MAMI agrees that by streamlining policy and regulation, permitting will improve with the new single-desk Critical Minerals Office. MAMI looks forward to working with the Province of Manitoba as we develop many of the action items contained in this strategy.”
The Manitoba government will continue to engage with rights holders, communities and business as work on the action items from the strategy begins to be implemented, said Moses.
The Manitoba Critical Minerals Strategy is available at www.manitoba.ca/minerals.
Contemporary economic challenges in Africa appear to be shifting the continent into a new era of development. From COVID-19 to war-induced inflation, many countries in Africa are facing significant economic challenges. The crises of recent years come on top of longer-term increases in debt, especially after the 2014 commodity price shock.
These circumstances have been the backdrop to recent conflicts, coups, and regime changes. But these contemporary crises follow a period of relatively successful state-led development in the first two decades of the 21st century, resulting in a hype about the new “African lions” and the emergence of an “Africa rising” narrative.
Two cases stand out as emblematic of this era: Rwanda’s vision of a Dubai-style financial and service hub, and Ethiopia’s rapid manufacturing and infrastructure ambitions.
Much has been written about the international factors behind this era of state-led development. The focus has been on the extension of private finance and the growth of “new” lenders such as China, India and Brazil. But these perspectives often overlook important questions. What has inspired ambitious African national plans over the last two decades? What assumptions were made about how development happens and how it should look?
In new research published in a special issue of a journal, we analyse these modernising visions. We unpick their differences and commonalities using cases from multiple countries.
Our emphasis is on understanding ideas, beliefs, and norms in shaping development plans. Such perspectives are often overlooked in the study of Africa. Scholars have often presumed that ruling elites are primarily interested in narrow material power or self-enrichment. We argue that ideas and beliefs underpin the goals and content of development plans.
The research covered in the special issue covers Angola, Eritrea and Tanzania, but in this article we will unpack our analysis of Ethiopia and Rwanda.
20th century modernist development
Many of the elements of development this century look like resurgent 20th century “high modernism”. This is a term coined by scholar James Scott to describe top-down, state-led, authoritarian programmes of economic development. These programmes typically used infrastructure and technology to engineer supposedly “backward”, “traditional” people and landscapes into efficient, modern, rational alternatives.
Perhaps the chief examples here are large dams. Historically, dams were viewed as the hallmark projects of modernisation. They could tame nature and deploy technology, whether electricity or irrigation, to found modern economies and workers. Ghana’s Akosombo Dam is one such project.
But building dams paused from the mid-1990s to the mid-2000s as the World Bank and other major funders withdrew. Dam projects were seen as having too-high social and economic costs and as not performing well. Such negative impacts also generated significant protests.
Rwanda’s case
Underpinning Rwanda’s model is a concentrated Leninist-style power structure. The president and associated elites chart the path to progress. The party, with its affiliated companies and investment funds, is all powerful – not solely the state. Rwanda also revived mid-century plans, from dams to an east African railway corridor. Electricity was deemed central, resulting in a rapid, but overambitious five-fold increase in over 15 years.
This recent period was not just a reproduction of the 1960s, however. It had new elements. A Dubai-style aesthetic is central to the reinvented capital, Kigali, where the goal is to create a new corporate service hub, replete with skyscraper, conference centres, shopping malls and a new international airport. This replaces the 20th century obsession with industrial sites and brutalist concrete.
Rather than the state-led programmes of the 20th century, pro-market reforms have been incorporated. There’s an embrace of private enterprise, a stock market and investment. The country’s electricity boom was largely enacted by private firms and Rwanda consistently ranks as one of the top countries in the Ease of Doing Business index. It takes hours, not weeks, to set up a company and there’s a speedy regulatory bureaucracy.
In some cases, “neoliberal” reforms have been brought in, with private enterprise and investment in previously state-controlled domains. Rwanda embraced corporate investment and ownership while making business-friendly, low-tax reforms. The private sector was given a big role in Rwanda’s boom to build over 40 microhydro plants in 15 years.
New public management techniques, with individual incentives and civil service targets, were adopted.
Ethiopia’s case
Ethiopia focused on investments in large agricultural plantations and industrial parks. The result evoked 20th century modernisation drives. A broad-based infrastructure boom and an industrialisation strategy that moved agricultural produce up the value chain would transform the structure of the economy. The Grand Ethiopian Renaissance Dam, the Addis-Djibouti Railway and other megaprojects became symbols of this vision. The aim was to maintain state control of the commanding heights of the economy (electricity, water, telecommunications and aviation, among others), while building an industrial base that would absorb the surplus agricultural labour.
This was coupled with investments in education and health. In 2016, Ethiopia had the third highest ratio of public investment to GDP, but also one of the fastest economic growth rates globally.
Unlike Rwanda, this ideology has not survived. Progress in health, education and income was achieved but political tensions grew. By the mid 2010s, the material reality of people’s livelihoods could no longer keep up with the promises the ruling party had evoked. Dissent was not tolerated and led to mass protests, riots, and the eventual demise of the party. Since 2018, there has been a dramatic shift in ideology and vision with an openness to liberalisation, and a focus away from industrialisation to the service sector.
Continuity and change
Overall, our analysis reveals a combination of continuity and change during this period. It marks the triumph of an “African left”, with old titans like Tanzania’s Chama Cha Mapinduzi or Mozambique’s Frelimo joined by new revolutionary parties also inspired by Marxism.
The language of communism or socialism is not used explicitly. But a belief endures that top-down schemes and mega-infrastructure can catapult people into an “enlightened” future. Structural economic barriers are surmountable through technology and engineering.
Simultaneously, one cannot escape the language of the Davos establishment about the supremacy of markets, importance of foreign investment and pledges to tackle climate change and poverty. This illustrates the degree to which these illiberal modernisers are connected to international policymaking.
Our publication conceptualises this pattern of continuity and change, as a 10-point “illiberal modernisers” manifesto. Although holding considerable variation between countries, we argue that these these hegemonic ruling parties shared common goals of transforming society through an elite-defined programme.
Ultimately, the pattern of continuity and change demonstrates the importance of analysing ideas, beliefs, and values. Elites in Africa, just as elsewhere, are not only interested in power but are influenced by ideas about development.
– Visions of development have shifted in Africa over the past two decades: study explores how Rwanda and Ethiopia tried to shape the future – https://theconversation.com/visions-of-development-have-shifted-in-africa-over-the-past-two-decades-study-explores-how-rwanda-and-ethiopia-tried-to-shape-the-future-224988
Source: The Conversation – Africa – By Henning Melber, Extraordinary Professor, Department of Political Sciences, University of Pretoria
The former liberation movement South West Africa People’s Organisation (Swapo) has been in firm political control of Namibia since independence in 1990.
Itula, contesting as an “independent candidate” without party nomination, managed to snatch 30% of the votes from Geingob. Swapo’s downward trend was confirmed by a dramatic decline in support in the 2020 regional and local elections.
Despite these shifting grounds, democracy stood the test of time. The smooth transition following the death of Geingob in February 2024 was a sign of political stability. Previous vice-president Nangolo Mbumba became interim president.
But Swapo faces a new quality of opposition.
I have followed and analysed policy in Namibia since independence. In my view, the national assembly and presidential elections of 27 November 2024 signify a new political scenario. For the first time a clear victory for Swapo seems less certain.
Swapo
The Swapo election manifesto pays tribute to Geingob. But it doesn’t mention his Harambee Prosperity Plan. Nor does it feature his metaphor of the “Namibian house”, in which nobody is left behind.
This signifies an abrupt closing of a chapter. Mbumba declared himself a caretaker, not interested in the position for a long term. He therefore does not feature prominently in the election manifesto.
As decided by the party congress in December 2023 the Swapo presidential candidate is Netumbo Nandi-Ndaitwah, also known as “NNN”. Born in 1952, she was a Swapo Youth League activist from her school days and joined Swapo in exile in the mid-1970s. As a liberation struggle veteran she became part of the party leadership and has been a cabinet member since independence.
Nandi-Ndaitwah would be the first female Namibian head of state if elected. But she faces strong competition from Itula.
Namibia’s president is directly elected by a 50% + 1 vote from the electorate. There are several presidential candidates nominated by parties with notable followings. This raises the possibility of no candidate achieving an absolute majority in the first round, for the first time. There would then be a second-round presidential election between the two candidates with most votes.
While not yet in parliament, Itula’s party, Independent Patriots for Change, made inroads in the 2020 regional and local government elections. In 2019, the Popular Democratic Movement won 16 out of the 96 parliamentary seats, becoming the official opposition. The newcomer Landless People’s Movement won four seats, making it the third strongest party.
Despite all these recent gradual shifts, hopes for visible transformation were largely unfulfilled. Namibian politics remained business as usual. As Rui Tyitende, a political scientist at the University of Namibia, recently wrote:
Namibia’s opposition parties are marred by political promiscuity, factionalism, internal conflicts and a perennial struggle for power … Even though Swapo is dysfunctional, the opposition needs to earn the right to govern.
The manifestos
This year’s election campaigns started much earlier than usual, testifying to new dynamics. While often lacking substance beyond personalised insults, electioneering remained peaceful. Notably, since independence, Namibia has not recorded a single politically motivated killing.
Despite early campaigning, party manifestos were released only from mid-September. These kept the media watching out for often dubious promises. Swapo wants to allocate about N$85.7 billion (U$4.9 billion) over five years for mass employment. It does not explain where the funds will come from. But it projects this will create 256,538 jobs.
The Landless People’s Movement claims to be Marxist, but includes a commitment to promoting a free market economy, and investment by multinationals. It also wants to send the first Namibian satellite into space.
Arguably, election manifestos have no serious impact on voting behaviour. For example, among the older generation, political party loyalties remain influenced to some extent by the liberation struggle history, and regional and ethnic identities.
In contrast, Namibians who were born after independence make up more than half of the country’s three million people, with an average age of 21 years. Many of the younger electorate live in urban areas, and have become an increasingly decisive factor. For them, the anti-colonial struggle and ethnicity provide little influence. This might be a factor in voting behaviour.
It seems that Swapo continues to attract the biggest crowds at rallies. However, it remains a matter of speculation if this signals huge electoral support, or is due to the entertainment by popular artists. Entertainment has always played a role in Namibian elections.
Free T-shirts, food and drinks are also incentives for people attending rallies, many of whom are not yet of voting age. While facing financial constraints, Swapo still has the most funds and donors. Another advantage is that it has a functioning operational structure throughout the country, with a regional and local presence of activists.
Something new or more of the same?
Swapo has comparative advantages but there is growing frustration among voters. Its dominance since independence has resulted in a form of democratic authoritarianism or authoritarian democracy. But voter support has still declined.
Similarly authoritarian leadership in the opposition parties and factional in-fighting provide no hope of alternative policies or political culture. Their political coalitions ended in disarray. This might come to Swapo’s rescue.
An unlikely but possible scenario would be an elected president coming from outside Swapo, while Swapo dominates the national assembly. The head of state has far-reaching executive powers. But he or she would then have to work with ministers and deputy ministers drawn from a parliament dominated by Swapo.
Such a constellation would complicate governance. It risks making a non-Swapo president a lame duck. It would be the biggest test for Namibia’s constitutional democracy and rule of law since independence.
As South Africa’s case shows, a former liberation movement can still have a future despite losing its outright majority.
Swapo could get beyond the nostalgic liberation struggle mindset and reinvent itself as a modern political party. This could – as happened in South Africa – pave the way to enter coalition politics in the best interest of the people.
– Namibia’s game-changing 2024 elections: Swapo might face defeat for the first time since independence in 1990 – https://theconversation.com/namibias-game-changing-2024-elections-swapo-might-face-defeat-for-the-first-time-since-independence-in-1990-241723
Source: United States of America – Department of State (video statements)
Spokesperson Matthew Miller leads the Department Press Briefing, at the Department of State, on November 4, 2024
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I am pleased to take part in the World Urban Forum.
It is fitting that you are gathering in Cairo – an enormously vibrant megacity and a magnet for innovation and creativity for over a thousand years.
I thank the Government of Egypt for hosting the 12th Forum.
Dear Friends,
You represent urban areas which are home to more than half of humanity.
You are on the frontlines of shaping a more inclusive, connected and resilient world.
And you are at the heart of where lasting change happens.
As your theme rightly puts it: “It all starts at home”.
Real progress begins at the local level.
On the ground.
In communities and people’s lives.
World leaders have just adopted the Pact for the Future.
It is an important new tool to advance our vital work, accelerate the SDGs, and address inequalities.
It calls for ensuring adequate, safe and affordable housing for all — and supporting developing countries to plan and implement just, safe, healthy, accessible, resilient and sustainable cities.
We need this more than ever.
Cities generate 70 per cent of greenhouse gas emissions. And municipal waste is set to rise by two-thirds within a generation.
Not only are cities powerful engines of social and economic development, they are also catalysts of sustainable solutions.
I see local and regional authorities as a crucial part of the answer on so many issues and at every level, including at the United Nations.
We can all benefit from your insights and ideas.
That’s why I created the UN Advisory Group on Local and Regional Governments.
I know over the next five days this Forum will have the chance to delve into the complexities and opportunities of sustainable urban development.
I invite you to seek innovations and inspiration and take them back to your communities.
And to help develop infrastructure and public services for all, including women and girls.
Local actions are the building blocks for future green, just and resilient cities.
Together, let’s make sustainable urbanization a reality.
And let’s ensure that no one and nowhere is left behind.
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The operators of the website refer to themselves as CMC Central AG and give a business address in Zurich, Switzerland. BaFin already published a warning about the largely identical cmc-central.pro website on 7 August 2024.
BaFin has recently become aware of a number of websites with almost identical content and has also warned consumers about them. In each case, the website’s homepage displays the phrase: “Step Into the Trading Arena with Confidence & [name of website]“.
BaFin advises consumers that the website cmc-central.pro and/or its operators have no business relationship with the company CMC Markets Germany GmbH, domiciled in Frankfurt am Main, Germany, which is registered with BaFin. This is a case of identity fraud committed against CMC Markets Germany GmbH.
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
Theinformation provided by BaFin is based on section 37 (4) of the German BankingAct (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.
I am pleased to take part in the World Urban Forum.
It is fitting that you are gathering in Cairo – an enormously vibrant megacity and a magnet for innovation and creativity for over a thousand years.
I thank the Government of Egypt for hosting the 12th Forum.
Dear Friends,
You represent urban areas which are home to more than half of humanity.
You are on the frontlines of shaping a more inclusive, connected and resilient world.
And you are at the heart of where lasting change happens.
As your theme rightly puts it: “It all starts at home”.
Real progress begins at the local level.
On the ground.
In communities and people’s lives.
World leaders have just adopted the Pact for the Future.
It is an important new tool to advance our vital work, accelerate the SDGs, and address inequalities.
It calls for ensuring adequate, safe and affordable housing for all — and supporting developing countries to plan and implement just, safe, healthy, accessible, resilient and sustainable cities.
We need this more than ever.
Cities generate 70 per cent of greenhouse gas emissions. And municipal waste is set to rise by two-thirds within a generation.
Not only are cities powerful engines of social and economic development, they are also catalysts of sustainable solutions.
I see local and regional authorities as a crucial part of the answer on so many issues and at every level, including at the United Nations.
We can all benefit from your insights and ideas.
That’s why I created the UN Advisory Group on Local and Regional Governments.
I know over the next five days this Forum will have the chance to delve into the complexities and opportunities of sustainable urban development.
I invite you to seek innovations and inspiration and take them back to your communities.
And to help develop infrastructure and public services for all, including women and girls.
Local actions are the building blocks for future green, just and resilient cities.
Together, let’s make sustainable urbanization a reality.
And let’s ensure that no one and nowhere is left behind.
Contemporary economic challenges in Africa appear to be shifting the continent into a new era of development. From COVID-19 to war-induced inflation, many countries in Africa are facing significant economic challenges. The crises of recent years come on top of longer-term increases in debt, especially after the 2014 commodity price shock.
These circumstances have been the backdrop to recent conflicts, coups, and regime changes. But these contemporary crises follow a period of relatively successful state-led development in the first two decades of the 21st century, resulting in a hype about the new “African lions” and the emergence of an “Africa rising” narrative.
Two cases stand out as emblematic of this era: Rwanda’s vision of a Dubai-style financial and service hub, and Ethiopia’s rapid manufacturing and infrastructure ambitions.
Much has been written about the international factors behind this era of state-led development. The focus has been on the extension of private finance and the growth of “new” lenders such as China, India and Brazil. But these perspectives often overlook important questions. What has inspired ambitious African national plans over the last two decades? What assumptions were made about how development happens and how it should look?
In new research published in a special issue of a journal, we analyse these modernising visions. We unpick their differences and commonalities using cases from multiple countries.
Our emphasis is on understanding ideas, beliefs, and norms in shaping development plans. Such perspectives are often overlooked in the study of Africa. Scholars have often presumed that ruling elites are primarily interested in narrow material power or self-enrichment. We argue that ideas and beliefs underpin the goals and content of development plans.
The research covered in the special issue covers Angola, Eritrea and Tanzania, but in this article we will unpack our analysis of Ethiopia and Rwanda.
20th century modernist development
Many of the elements of development this century look like resurgent 20th century “high modernism”. This is a term coined by scholar James Scott to describe top-down, state-led, authoritarian programmes of economic development. These programmes typically used infrastructure and technology to engineer supposedly “backward”, “traditional” people and landscapes into efficient, modern, rational alternatives.
Perhaps the chief examples here are large dams. Historically, dams were viewed as the hallmark projects of modernisation. They could tame nature and deploy technology, whether electricity or irrigation, to found modern economies and workers. Ghana’s Akosombo Dam is one such project.
But building dams paused from the mid-1990s to the mid-2000s as the World Bank and other major funders withdrew. Dam projects were seen as having too-high social and economic costs and as not performing well. Such negative impacts also generated significant protests.
Rwanda’s case
Underpinning Rwanda’s model is a concentrated Leninist-style power structure. The president and associated elites chart the path to progress. The party, with its affiliated companies and investment funds, is all powerful – not solely the state. Rwanda also revived mid-century plans, from dams to an east African railway corridor. Electricity was deemed central, resulting in a rapid, but overambitious five-fold increase in over 15 years.
This recent period was not just a reproduction of the 1960s, however. It had new elements. A Dubai-style aesthetic is central to the reinvented capital, Kigali, where the goal is to create a new corporate service hub, replete with skyscraper, conference centres, shopping malls and a new international airport. This replaces the 20th century obsession with industrial sites and brutalist concrete.
Rather than the state-led programmes of the 20th century, pro-market reforms have been incorporated. There’s an embrace of private enterprise, a stock market and investment. The country’s electricity boom was largely enacted by private firms and Rwanda consistently ranks as one of the top countries in the Ease of Doing Business index. It takes hours, not weeks, to set up a company and there’s a speedy regulatory bureaucracy.
In some cases, “neoliberal” reforms have been brought in, with private enterprise and investment in previously state-controlled domains. Rwanda embraced corporate investment and ownership while making business-friendly, low-tax reforms. The private sector was given a big role in Rwanda’s boom to build over 40 microhydro plants in 15 years.
New public management techniques, with individual incentives and civil service targets, were adopted.
Ethiopia’s case
Ethiopia focused on investments in large agricultural plantations and industrial parks. The result evoked 20th century modernisation drives. A broad-based infrastructure boom and an industrialisation strategy that moved agricultural produce up the value chain would transform the structure of the economy. The Grand Ethiopian Renaissance Dam, the Addis-Djibouti Railway and other megaprojects became symbols of this vision. The aim was to maintain state control of the commanding heights of the economy (electricity, water, telecommunications and aviation, among others), while building an industrial base that would absorb the surplus agricultural labour.
This was coupled with investments in education and health. In 2016, Ethiopia had the third highest ratio of public investment to GDP, but also one of the fastest economic growth rates globally.
Unlike Rwanda, this ideology has not survived. Progress in health, education and income was achieved but political tensions grew. By the mid 2010s, the material reality of people’s livelihoods could no longer keep up with the promises the ruling party had evoked. Dissent was not tolerated and led to mass protests, riots, and the eventual demise of the party. Since 2018, there has been a dramatic shift in ideology and vision with an openness to liberalisation, and a focus away from industrialisation to the service sector.
Continuity and change
Overall, our analysis reveals a combination of continuity and change during this period. It marks the triumph of an “African left”, with old titans like Tanzania’s Chama Cha Mapinduzi or Mozambique’s Frelimo joined by new revolutionary parties also inspired by Marxism.
The language of communism or socialism is not used explicitly. But a belief endures that top-down schemes and mega-infrastructure can catapult people into an “enlightened” future. Structural economic barriers are surmountable through technology and engineering.
Simultaneously, one cannot escape the language of the Davos establishment about the supremacy of markets, importance of foreign investment and pledges to tackle climate change and poverty. This illustrates the degree to which these illiberal modernisers are connected to international policymaking.
Our publication conceptualises this pattern of continuity and change, as a 10-point “illiberal modernisers” manifesto. Although holding considerable variation between countries, we argue that these these hegemonic ruling parties shared common goals of transforming society through an elite-defined programme.
Ultimately, the pattern of continuity and change demonstrates the importance of analysing ideas, beliefs, and values. Elites in Africa, just as elsewhere, are not only interested in power but are influenced by ideas about development.
Barnaby Joseph Dye receives funding from the Economic and Social Science Research Council (UK).
Biruk Terrefe received funding from the Heinrich Böll Foundation (Germany).
Source: The Conversation – Africa – By Henning Melber, Extraordinary Professor, Department of Political Sciences, University of Pretoria
The former liberation movement South West Africa People’s Organisation (Swapo) has been in firm political control of Namibia since independence in 1990.
Itula, contesting as an “independent candidate” without party nomination, managed to snatch 30% of the votes from Geingob. Swapo’s downward trend was confirmed by a dramatic decline in support in the 2020 regional and local elections.
Despite these shifting grounds, democracy stood the test of time. The smooth transition following the death of Geingob in February 2024 was a sign of political stability. Previous vice-president Nangolo Mbumba became interim president.
But Swapo faces a new quality of opposition.
I have followed and analysed policy in Namibia since independence. In my view, the national assembly and presidential elections of 27 November 2024 signify a new political scenario. For the first time a clear victory for Swapo seems less certain.
Swapo
The Swapo election manifesto pays tribute to Geingob. But it doesn’t mention his Harambee Prosperity Plan. Nor does it feature his metaphor of the “Namibian house”, in which nobody is left behind.
This signifies an abrupt closing of a chapter. Mbumba declared himself a caretaker, not interested in the position for a long term. He therefore does not feature prominently in the election manifesto.
As decided by the party congress in December 2023 the Swapo presidential candidate is Netumbo Nandi-Ndaitwah, also known as “NNN”. Born in 1952, she was a Swapo Youth League activist from her school days and joined Swapo in exile in the mid-1970s. As a liberation struggle veteran she became part of the party leadership and has been a cabinet member since independence.
Nandi-Ndaitwah would be the first female Namibian head of state if elected. But she faces strong competition from Itula.
Namibia’s president is directly elected by a 50% + 1 vote from the electorate. There are several presidential candidates nominated by parties with notable followings. This raises the possibility of no candidate achieving an absolute majority in the first round, for the first time. There would then be a second-round presidential election between the two candidates with most votes.
While not yet in parliament, Itula’s party, Independent Patriots for Change, made inroads in the 2020 regional and local government elections. In 2019, the Popular Democratic Movement won 16 out of the 96 parliamentary seats, becoming the official opposition. The newcomer Landless People’s Movement won four seats, making it the third strongest party.
Despite all these recent gradual shifts, hopes for visible transformation were largely unfulfilled. Namibian politics remained business as usual. As Rui Tyitende, a political scientist at the University of Namibia, recently wrote:
Namibia’s opposition parties are marred by political promiscuity, factionalism, internal conflicts and a perennial struggle for power … Even though Swapo is dysfunctional, the opposition needs to earn the right to govern.
The manifestos
This year’s election campaigns started much earlier than usual, testifying to new dynamics. While often lacking substance beyond personalised insults, electioneering remained peaceful. Notably, since independence, Namibia has not recorded a single politically motivated killing.
Despite early campaigning, party manifestos were released only from mid-September. These kept the media watching out for often dubious promises. Swapo wants to allocate about N$85.7 billion (U$4.9 billion) over five years for mass employment. It does not explain where the funds will come from. But it projects this will create 256,538 jobs.
The Landless People’s Movement claims to be Marxist, but includes a commitment to promoting a free market economy, and investment by multinationals. It also wants to send the first Namibian satellite into space.
Arguably, election manifestos have no serious impact on voting behaviour. For example, among the older generation, political party loyalties remain influenced to some extent by the liberation struggle history, and regional and ethnic identities.
In contrast, Namibians who were born after independence make up more than half of the country’s three million people, with an average age of 21 years. Many of the younger electorate live in urban areas, and have become an increasingly decisive factor. For them, the anti-colonial struggle and ethnicity provide little influence. This might be a factor in voting behaviour.
It seems that Swapo continues to attract the biggest crowds at rallies. However, it remains a matter of speculation if this signals huge electoral support, or is due to the entertainment by popular artists. Entertainment has always played a role in Namibian elections.
Free T-shirts, food and drinks are also incentives for people attending rallies, many of whom are not yet of voting age. While facing financial constraints, Swapo still has the most funds and donors. Another advantage is that it has a functioning operational structure throughout the country, with a regional and local presence of activists.
Something new or more of the same?
Swapo has comparative advantages but there is growing frustration among voters. Its dominance since independence has resulted in a form of democratic authoritarianism or authoritarian democracy. But voter support has still declined.
Similarly authoritarian leadership in the opposition parties and factional in-fighting provide no hope of alternative policies or political culture. Their political coalitions ended in disarray. This might come to Swapo’s rescue.
An unlikely but possible scenario would be an elected president coming from outside Swapo, while Swapo dominates the national assembly. The head of state has far-reaching executive powers. But he or she would then have to work with ministers and deputy ministers drawn from a parliament dominated by Swapo.
Such a constellation would complicate governance. It risks making a non-Swapo president a lame duck. It would be the biggest test for Namibia’s constitutional democracy and rule of law since independence.
As South Africa’s case shows, a former liberation movement can still have a future despite losing its outright majority.
Swapo could get beyond the nostalgic liberation struggle mindset and reinvent itself as a modern political party. This could – as happened in South Africa – pave the way to enter coalition politics in the best interest of the people.
On 23 September, after nearly one year of cross-border attacks along Lebanon’s southern border, Israel escalated its bombardment of Lebanon, causing waves of mass displacement that have surpassed the country’s ability to provide adequate shelter.
On 1 November, our team met women sheltering at a school with their families in Bichwet, Baalbek-Hermel governorate.
Fatima’s vibrant smile slowly fades away after entering the classroom. Desks and chairs are stacked on one side of the room, making room for the mattresses laid out on the floor. She’d rather be at a school to seek education for her three children, not to seek refuge.
“I didn’t want to leave our home, I really didn’t,” says Fatima, who is 43 years old. “The day we were forced to leave was the toughest day.”
On 29 September, Fatima quickly collected a couple of mattresses and blankets and headed out of the house under the bombing. Some five minutes later, her neighbour’s house in Kfarden was bombed.
“I am grateful I saved my children,” she says. “My husband and I live for them. We’re well physically, but not at all mentally. We muster patience and wait for the war to end.”
Fatima wipes her tears and puts a coffee pot on a portable stove. Her vibrant smile returns as she says, “We are the people of Baalbek, we honour our guests, with whatever means available.”
Iqbal knocks on the door and enters. The 60-year-old woman was forced to leave her town, Boudai, and arrived at the school on the same day as Fatima.
“We couldn’t sleep all night because of the constant bombing all around us,” says Iqbal. “When the sun came up, we fled with nothing. We didn’t even know where we’re going, we just ran for our lives.”
Iqbal managed to get a few mattresses and blankets for herself, her father, and her three siblings.
“We know nothing about our house,” she says. “I miss home so much, and the things I took for granted before. It’s dangerous to go back home; it’s undignified to stay here.”
As they’re sipping coffee, their chats are filled with a shared sense of nostalgia for the recent past. Fatima does something that Iqbal hasn’t dared though; she risks her life every few days to go back home.
“There are no showers in this school and the weather is freezing here in the mountains,” says Fatima. “We can’t afford to heat up water on the stove. We also can’t afford to have our children get sick. I have succumbed to the fact that this is our life now.”
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A consultation has opened into proposed changes to the social housing allocations policy of St Albans City and District Council.
Anyone with an interest in housing in the District is urged to complete a short survey and give their views.
The Council has around 4,800 social rent homes and has the nomination rights to a further 1,200 housing association homes for people on the Housing Register.
Around 300 properties are let each year with new tenants being selected from the District’s Housing Register.
The Allocations Policy sets out how this process is undertaken and covers key issues such as the eligibility criteria for the Housing Register and how properties are allocated.
The overall aim of the Allocations Policy is to provide a framework for fair and effective allocation with priority given to those in greatest housing need.
Among the changes proposed is raising the maximum amount of household income of people allowed to be on the Housing Register.
This has been revised upwards since it was last agreed three years ago to take into account the impact of inflation.
Another proposal is to lower the age limit from 60 to 55 for applications for bungalows, provided the applicant can show a medical need such as reduced mobility.
Under the changes, an additional priority would be given to applicants transferring from a property with four or more bedrooms to a two-bedroom property. This is to increase the availability of larger homes and complements the existing policy whereby people downsizing from a three-bedroom to a one-bedroom get priority.
Councillor Jacqui Taylor, Chair of the Housing and Inclusion Committee, said:
These are significant changes which we are proposing so I would urge anyone involved with the District’s social housing to take part in the consultation.
We want to hear from tenants, people on our Housing Register and those with an interest in the issue to let us know their views. All feedback will be analysed before any decisions are made.
One key aim is to increase the availability of larger properties by making it easier for some of our tenants to downsize.
The consultation opens on Monday 4 November for six weeks and can be accessed here.
A report will be given to the Housing and Inclusion Committee on Monday 20 January when Councillors will decide whether to accept the changes.
The current Annual Gross Household Income Limits are £36,295 for a one-bedroom home which sould be updated to £46,686.20.
For a two-bedroom property the limit would be updated from £48,173 to £61,964.86; for a three-bedroom property, it would rise from £56,152 to £72,228.23; and for a property of four or more bedrooms, it would increase from £69,608 to £89,536.67.
Media contact: John McJannet, Principal Communications Officer, St Albans City and District Council: 01727-919533
Mayor rallies troops as 25,000 Derry City fans expected in Aviva this Sunday
4 November 2024
Mayor of Derry City and Strabane District Council, Councillor Lilian Seenoi-Barr, has issued a rallying call to the red and white army ahead of Derry City’s bid to win the FAI Cup this Sunday.
Ruaidhri Higgins’ side will take on Drogheda United in the Aviva Stadium showpiece with an estimated 25,000 Candystripes fans expected to make the trip to Dublin 4.
Mayor Barr has called on businesses and residents from all corners of the North West to get their flags and colours out this week. “The excitement and anticipation is palpable across the North West as Derry City bid to bring home the FAI Cup this Sunday,” she said. “It’s the ultimate Derry day out and I want to appeal to the public to do all you can this week to get behind the team and paint the town red and white.
“Get your homes, businesses, social media profiles and cars decked out for Derry and let’s have a record breaking support travelling to the Aviva for the final.”
The Mayor this week recorded a special video message at the Ryan McBride Brandywell for the fans and players and is changing her social media profile pictures in support of the team.
She has attended a number of home games this season and was at Friday night Derry’s final league game of the season against Shelbourne.
“In the games I’ve attended at the Brandywell, I have experienced first-hand the special relationship that exists between the team and the supporters of this wonderful football club,” she acknowledged. “The support of the fans is like having a 12th man on the pitch and can lift the players to new heights this weekend.
“I want to wish Ruaidhri and his players the best of luck as they finalise their preparations, it’s going to be an unforgettable occasion for everyone to enjoy so let’s pack out the Aviva and roar the team to victory on Sunday.”
Tickets for the final which has a 3pm kick off are available online at via Ticketmaster.
A link to choose tickets in the Derry City section is available on the Derry City Football Club website and the club’s social media pages.
The Official Partners sponsoring the UK’s Pavilion at COP29 are: AVEVA, Corporate Leaders Group, DP World, National Grid, Octopus Energy, SSE and Standard Chartered.
This year’s COP29 UK Pavilion Official Partners represent UK industry’s outstanding reputation for addressing climate change through enterprise and innovation.
Throughout the COP29 summit in Baku, Azerbaijan, the UK Pavilion will host a series of events including panel talks, roundtable discussions and networking receptions. These will raise awareness of the best of British climate leadership and share insights on climate change from UK organisations, policy and business.
The funding by the UK Pavilion sponsors reduces cost to the taxpayer, while enabling official partners to demonstrate the vital role industry plays in progressing the climate agenda.
National Grid and SSE are returning as official partners from COP26 in Glasgow, COP27 in Sharm-El Sheikh and COP28 in Dubai, while Octopus Energy is returning from COP28 – showing the ongoing commitment of these companies to cutting emissions and accelerating towards net zero, and to working with the government on this important mission.
The UK government has also welcomed 4 new businesses to the COP29 sponsor portfolio: AVEVA, Corporate Leaders Group, DP World and Standard Chartered, resulting in the highest ever number of official partners at a COP summit.
COP29 runs from 11-22 November and the UK Pavilion will be open for the duration of the conference.
The sponsors
AVEVA
Headquartered in the UK, AVEVA is a global leader in industrial software, driving responsible use of the world’s resources. Over 25,000 enterprises in over 100 countries rely on AVEVA to help them deliver life’s essentials: safe and reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA enables teams to engineer efficiently and optimize operations, driving growth and sustainability. AVEVA attends COP29 with a wholehearted commitment to ensure that COP29 remains the key mechanism for driving collaborative progress on net zero. With the industrial sector contributing to a quarter of global emissions, AVEVA aims to demonstrate digitalization’s critical role in decarbonising hard-to-abate sectors while enabling innovation in low-carbon paradigms that can support a just transition to a more sustainable future. Sponsoring the UK Pavilion is a key opportunity to collaborate with business, government and civil society leaders, supporting the transformation of UK economic interests to support COP objectives and accelerating the drive for net zero worldwide.
Caspar Herzberg, CEO, AVEVA:
As a UK-headquartered global leader in industrial intelligence software, AVEVA is proud to support the UK Pavilion at COP29. With industry responsible for a quarter of global emissions, industrial digitalisation is revolutionising decarbonisation strategies. Our work with more than 20,000 enterprises worldwide shows how cross-sector collaboration and untapped industrial data are driving breakthrough sustainability solutions. The UK continues to demonstrate leadership in sustainable industrial innovation, and alongside our government and industry partners, we’re committed to accelerating measurable action on our path to net zero.
Corporate Leaders Group UK
The UK Corporate Leaders Group (CLG UK) is a cross-sector, impact-driven business membership group that provides a strong corporate voice to support UK leadership for the transition to a climate neutral, nature positive and socially inclusive economy. CLG UK’s ongoing mission is to increase business and government leadership through a reinforcing virtuous cycle of increasing ambition and implementing action. It has convened and helped build consensus across the UK business community in support of the transition to competitive, climate-neutral, nature-positive and socially inclusive economies.
Beverley Cornaby, Director, UK Corporate Leaders Group:
The UK Corporate Leaders Group (CLG UK) is delighted to be sponsoring the UK Pavilion at COP29. The timing could not be more important, with the window of opportunity to transition to a clean future closing rapidly. CLG UK is urging governments to be decisive, provide clear policy frameworks and stay on course to meet net zero through strong delivery and implementation plans. To succeed, the UK government must bring business with it on its journey. That is where CLG UK is perfectly positioned to work with the UK Pavilion’s partners, businesses and change-makers to mobilise investment, technology and innovation to achieve our shared goals. We must work together to unlock the power of UK leadership, shift markets and economies, and maintain ambition for climate, nature and people.
DP World
DP World exists to make the world’s trade flow better, changing what’s possible for the customers and communities it serves globally. With a dedicated, diverse and professional team of more than 115,000 employees from 160 nationalities, spanning 78 countries on six continents, DP World is pushing trade further and faster towards a seamless supply chain that’s fit for the future. DP World is rapidly transforming and integrating its businesses – Ports and Terminals, Marine Services, Logistics and Technology – and uniting its global infrastructure with local expertise to create stronger, more efficient and sustainable end-to-end supply chain solutions that can change the way the world trades.
Rashid Abdulla, CEO & Managing Director, Europe:
DP World’s ambition is to streamline and sustain global trade while building a resilient, lower-carbon supply chain. At COP29 with the UK government, we will champion sustainable end-to-end solutions that address climate challenges head-on, playing our part in connecting stakeholders across sectors, promoting collaboration and creating shared value.
National Grid
National Grid plays a crucial role in connecting millions of people to the energy they use safely, reliably and efficiently. National Grid is pioneering ways to decarbonise the energy system; from building interconnectors to allow the UK to share clean energy with Europe, to investing in renewable energy generation in the United States.
Rhian Kelly, Chief Sustainability Officer, National Grid:
Collaboration across borders and the sharing of best practice is vital if the global ambition for a clean energy future is to be met. Energy networks are an important part of this, enabling clean, green energy to flow from where it’s generated to where it’s needed. National Grid is proud to support the UK Pavilion at COP29, and we look forward to sharing our experiences and learning more from the international community.
Octopus Energy
As a British-born company, Octopus Energy showcases how the UK is leading the world in green innovation, investing billions in clean technologies to drive meaningful change globally. With operations in 18 countries, and 54 million households running on its tech platform Kraken, Octopus is bringing cheaper power to millions of customers globally. Launched just eight years ago, Octopus is now the largest electricity supplier in the UK and one of the largest investors in renewables in Europe, managing a portfolio worth £7 billion. Its relentless focus on smart tech and innovations has unlocked the world’s largest virtual power plant and homes with zero energy bills, delivering clean solutions that save people money and power the world.
Zoisa North-Bond, CEO Octopus Energy Generation:
The UK is the vanguard of green innovation, brimming with the talent and technology needed to accelerate the global energy revolution – and COP is a great opportunity to showcase this. From microgrids to wind farms and EVs – the solutions to empower global communities and stop climate change are available today. By working with policymakers and industry leaders worldwide, we can make green energy accessible for all and drive the solutions that will power the world.
SSE
SSE is the UK and Ireland’s clean energy champion, investing over £20 billion into homegrown energy. Our purpose is to provide the energy needed today while building a better world of energy for tomorrow. We do this by developing, building, operating and investing in world-class electricity infrastructure that is vital to the clean energy transition. We were the first company in the world to develop a ‘just transition strategy’, aimed at ensuring the benefits of the clean energy transition are shared by workers and communities. SSE has aligned its business strategy to the UN’s Sustainable Development Goals (SDGs), providing a powerful framework to guide the creation of shared value for shareholders and society.
Martin Pibworth, SSE Chief Commercial Officer:
At SSE, we’ve put delivering net zero at the heart of our strategy backed up with of a multi-billion-dollar investment programme focused on mission-critical clean energy infrastructure. COP29 provides the opportunity to speed up the pace of the transition working with a range of international partners to collectively deliver a global just transition.
Standard Chartered
Standard Chartered has an important role to play in supporting our clients, sectors and markets to accelerate the transition to a low carbon, climate resilient economy. We’re pleased to partner with the UK at COP29, creating a platform to bring together partners, stakeholders and decision makers to help deliver outcomes in support of the Paris Agreement. As a major financial hub, the UK has some of the deepest pools of internationally oriented capital and as a leading international cross-border bank, headquartered in the UK, Standard Chartered is uniquely positioned to mobilise this capital and investment towards our footprint markets across Asia, Africa and the Middle East.
Marissa Drew, Chief Sustainability Officer, Standard Chartered:
We’re pleased to partner with the UK at COP29 and will use this platform, alongside the full breadth of our sustainable finance expertise, to help scale finance and innovative solutions in support of the Paris Agreement. The UK has some of the deepest pools of internationally oriented capital and as a leading international cross-border bank, headquartered in the UK, Standard Chartered is uniquely positioned to mobilise this capital towards sustainable and inclusive growth across our footprint markets in Asia, Africa and the Middle East.
Source: United States House of Representatives – Representative Melanie Stansbury (N.M.-01)
ALBUQUERQUE—U.S. Representative Melanie Stansbury (NM-01)introduced theIHS Provider Expansion Act,which establishes an Office of Graduate Medical Education Programs within the Indian Health Service (IHS). This legislation would expand the existing IHS Residency Program, building from the Shiprock-University of New Mexico (SUNM) Family Medicine Residency which is the first in the nation.
“Access to healthcare should not be determined by history or geography,”said Rep. Melanie Stansbury (NM-01). “The IHS Provider Expansion Act is a vital step towards ensuring that Native and Indigenous communities can access healthcare and grow the number of medical professionals serving Native communities. By investing in medical education within the Indian Health Service, we can help expand healthcare and bridge the gap in healthcare disparities that have persisted for far too long.”
In New Mexico, which is home to 23 Tribal Nations and a population that is nearly 12% Native, access to healthcare services is a pressing issue. Currently, IHS provides services in 37 states to about 2.2 million out of 3.7 million Indigenous people in the country.
This bill is projected to directly impact millions of people across the country served by the IHS to improve access to healthcare and medical professionals who understand the unique health challenges faced by Tribal communities.
By expanding access through IHS, this bill will also help to address the significant deficit of rural primary healthcare providers across the country. Recent data from the U.S. Department of Health and Human Services shows rural areas across the country face a significant deficit in primary care providers, with more than 80 million Americans living in Health Professional Shortage Areas (HPSAs).
By expanding graduate medical education opportunities through IHS, we can expect an increase in the number of physicians willing to practice in these underserved regions.
Key Provisions of the Legislation:
Establishment of the Office:The Secretary of Health makes permanent the Office of Graduate Medical Education Programs to oversee residency and fellowship initiatives within the IHS.
Creating a Pipeline:The Office will facilitate opportunities for future healthcare professionals, paraprofessionals, and other health-related workers to engage in residency and fellowship programs.
Oversight of Residency Programs:The Office will oversee existing residency and fellowship programs at IHS facilities and support the creation of additional programs aimed at recruiting and retaining healthcare professionals.
Coordination with Academic Institutions:The Office will work in collaboration with academic institutions to strengthen educational ties and enhance training opportunities.
Interagency Working Group:An interagency working group, involving various federal agencies, will assist in the implementation and sustainability of the Office, ensuring ongoing support and resources.
Read the bill here.
View the press conference here.
Other statements of support:
“Investing in healthcare for Indian Country means supporting the professionals who provide it. This legislation will help address critical clinical shortages by creating a pipeline of well-trained, culturally competent providers for our tribal communities. We know long-standing vacancies have a negative effect on patient access, quality of care, and employee morale,” saidCongresswoman Teresa Leger Fernández (NM-03).“By establishing an Office of Graduate Medical Education through IHS, we are taking steps to bridge the gap in care and make sure Native communities have the medical support they deserve.”
“With Tribal communities in Arizona and across the country facing a critical shortage of health care professionals, it’s vital that we pass theIHS Provider Expansion Act,”saidCongressman Raúl Grijalva (D-AZ).“This legislation will address health care worker recruitment and retention challenges at IHS facilities and establish a much-needed pipeline of health care professionals. I’m proud to support fully funding IHS and providing the resources, personnel, and training required to serve Indian Country’s health care needs.”
“Tribal communities across the country face unacceptable barriers to accessing quality health care—a crisis that is exacerbated by chronic understaffing at the Indian Health Service. As Ranking Member of the Interior Appropriations Subcommittee that oversees IHS, I’ve heard firsthand how provider shortages lead to delayed care for patients and expensive travel contracts,” saidCongresswoman Chellie Pingree (D-Maine). “By establishing an Office of Graduate Medical Education at IHS that focuses on a dedicated pipeline to recruit and train talented physicians in tribal health systems, this legislation will help build a robust, sustainable workforce tailored to the unique needs of Native communities. I’m proud to be an original cosponsor. Together, we can tear down barriers to quality, culturally-competent care in tribal health systems from Maine to New Mexico and beyond.”
“The University of New Mexico Health Sciences is very supportive of this legislation that seeks to increase the number of physicians who work caring for Native American populations by supporting residency and fellowship training in Indian Health Service facilities,” saidDan Waldman, MD Vice Chair of Education Department of Family & Community Medicine University of New Mexico. “The proposed Office of Graduate Medical Education within the Indian Health Service would provide much-needed federal programmatic infrastructure and help create partnerships with academic institutions such as UNM. Where physicians train has an important impact on where they choose to work after they complete their training, and it can also impact their cultural knowledge of the populations they will ultimately work with. UNM also recognizes the potential value of expanding “grow your own” professional pipelines, including new opportunities for our local Indigenous medical residents and fellows to remain closer to home. Attracting, educating, and retaining New Mexico’s health professional talent remains a top priority for UNM Health Sciences educational administration.”
“First Nations Community HealthSource supports Representative Stansbury’sIndian Health Service (IHS) Provider Expansion Act,” saidFirst Nations Community HealthSource CEO Linda Stone. “First Nations Community HealthSource is New Mexico’s Urban Indian Health Center in Albuquerque. Its mission is to provide a comprehensive healthcare delivery system that addresses the physical, social, emotional, and spiritual needs of urban Indigenous people and other underserved populations in Albuquerque and the surrounding areas. First Nations Community HealthSource faces significant shortages of healthcare professionals, a national and state-wide challenge. The IHS Provider Expansion Act will help alleviate these shortages and improve access to essential healthcare services in American Indian communities.”
In October 2024, the foreign-exchange reserve increased by kr. 8.4 billion to kr. 650.0 billion. The increase reflects Danmarks Nationalbank’s net purchase of foreign exchange for kr. 0.6 billion, and the central government’s net borrowing of foreign debt for kr. 7.7 billion, cf. table 1.
For settlement in October, Danmarks Nationalbank has not intervened in the foreign exchange market.
Danmarks Nationalbank’s net foreign-exchange purchases and the change in the foreign-exchange reserve – table 1
Kr. billion
October 2024
January 2024 – October 2024
Danmarks Nationalbank’s interventions* to purchase foreign exchange, net
0.0
0.0
Other**
0.6
15.2
Danmarks Nationalbank’s net foreign-exchange purchases
0.6
15.2
The central government’s net foreign borrowing***
7.7
8.9
Change in the foreign-exchange reserve
8.4
24.1
Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.
* Intervention takes place when Danmarks Nationalbank purchases and sells foreign exchange for Danish kroner in the foreign-exchange market in order to stabilise the exchange rate.
** Comprises e.g. interest accrued on the foreign-exchange reserve, the central government’s net payments in foreign exchange, and changes in the banks’ deposits in euro-denominated accounts at Danmarks Nationalbank.
*** Including net payments to the central government in foreign exchange as a result of currency swaps.
DEVELOPMENT IN LIQUIDITY
In October, the central government’s net financing requirement amounted to kr. 25.5 billion. Since the turn of the year, the central government’s net financing requirement has been kr. -35.1 billion, cf. table 2.
The net position of the banks and mortgage-credit institutes vis-à-vis Danmarks Nationalbank increased by kr. 25.3 billion in October, to an outstanding amount of kr. 258.3 billion. In October, the central government’s liquidity impact increased the net position by kr. 22.5 billion.
Impact of various factors on the net position of the banks and mortgage-credit institutes via-a-vis Danmarks Nationalbank – table 2
Kr. billion
October 2024
January 2024 – October 2024
The central government’s net financing
25.5
-35.1
Redemption on domestic central-government debt*
5.6
41.8
Net bond purchases by the government funds and own portfolio and financing of social housing
-1.0
0.1
Other**
-0.2
0.0
The central government’s gross domestic financing requirement
29.8
6.9
The central government’s gross domestic borrowing***
7.3
66.4
The central government’s liquidity impact
22.5
-59.6
Danmarks Nationalbank’s net foreign-exchange purchases
0.6
15.2
Danmarks Nationalbank’s net bond purchases
0.2
-0.2
Other factors****
2.0
12.5
Change in net position
25.3
-32.1
Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.
* Including krone-denominated payments by the central government in currency swaps.
** Comprises foreign net financing requirement and changes in net collateral for the government’s swap portfolio.
*** Gross long-term borrowing, net short-term borrowing and krone-denominated payments to the central government in currency swaps.
**** Comprises e.g. changes in banknotes and coins in circulation.
DANMARKS NATIONALBANK’S INTEREST RATES
Since 18 October 2024 the discount rate has been 2.85 pct. p.a., since 18 October 2024 the current-account interest rate has been 2.85 pct. p.a., since 18 October 2024 the lending rate has been 3 pct. p.a. and since 18 October 2024 the rate of interest on certificates of deposit has been 2.85 pct. p.a.
Enquiries can be directed to press advisor Teis Hald Jensen on tel. +45 3363 6066.
BALANCE SHEET OF DANMARKS NATIONALBANK 31 OCTOBER 2024
Assets
2024
2024
1000 kr.
31/10
30/09
Stock of gold
29,762,724
29,762,724
Foreign assets
568,018,936
558,598,616
Claims on the International Monetary Fund
56,612,023
56,612,023
Claims related to banks’ and mortgage credit institutes’ TARGET accounts in ECB
25,158
21,936
Monetary-policy lending
–
–
Other lending
1,257,590
1,328,162
– Banks’1)
1,257,590
1,328,162
– Miscellaneous loans
–
–
Domestic bonds
32,828,772
32,648,468
Financial fixed assets, etc.
131,550
131,550
Tangible and intangible fixed assets
657,630
659,416
Other assets
3,266,872
2,613,908
692,561,255
682,376,803
1) Other lending to banks include loans for cash deposits.
Liabilities
2024
2024
1000 kr.
31/10
30/09
Banknotes
49,490,166
50,703,826
Coins
6,141,453
6,139,781
Monetary-policy deposits
258,308,841
232,970,192
– Current accounts
258,308,841
232,970,192
– Certificates of deposit
–
–
Other deposits
14,923,309
14,842,944
– Deposits related to banks’ and mortgage credit institutes’ TARGET accounts in ECB
25,158
21,936
– Other deposits from banks’ and mortgage credit institutes’
1,090,023
1,116,117
– Miscellaneous deposits
13,808,128
13,704,891
Central government
228,928,623
243,798,735
Foreign liabilities
4,405,659
3,348,426
Counterpart of Special Drawing Rights allocated by the IMF (SDR)
43,743,945
43,743,945
Other liabilities
2,912,279
3,121,974
Capital and reserves
83,706,980
83,706,980
692,561,255
682,376,803
Note: The monthly balance sheet is calculated at beginning of year values +/- accumulated transaction values. The monthly balance does not include value adjustments and accruals, as these are only calculated at year-end, cf. Danmarks Nationalbank’s accounting principles.
Source: The Conversation – Africa – By Shüné Oliver, Medical scientist, National Institute for Communicable Diseases
While the emergence of colourful butterflies is a welcome sign of summer, the constant buzzing of mosquitoes is an annoying part of the season.
Mosquitoes are more than just pests. They are the world’s most dangerous animal. Their presence signals the start of the malaria season in southern Africa.
It is for this reason that the Southern African Development Community recognises the first week of November as SADC Malaria Week, with 6 November as SADC Malaria Day.
During this week the dangers of malaria are highlighted. As South Africa edges closer towards malaria elimination, this has become more important as many South Africans are unaware of the malaria risk within the country’s borders.
Malaria is usually spread through a bite of an infected female Anopheles mosquito. In rare cases, malaria can spread through blood transfusions, organ transplants or sharing contaminated needles.
There is also the possibility that mothers can pass on the disease to their babies while pregnant or during delivery.
Mosquitoes that spread malaria are usually only active between dusk and dawn. Some mosquitoes, particularly the large black and white Aedes mosquitoes, are active during the day. These mosquitoes spread diseases like yellow fever and Zika.
Although malaria-spreading mosquitoes are active at night, they are not the mosquitoes that make the annoying buzzing sound that prevents you from getting a peaceful night’s sleep.
Instead, malaria mosquitoes are near-silent, often referred to as silent killers. Frequently, you only realise you have been bitten when it is too late.
Most malaria vectors tend to bite and rest outdoors. This means that you have to take extra care when outdoors.
Know your enemy’s whereabouts
Malaria mosquitoes require specific environmental conditions to breed and survive.
They are found in low-lying tropical areas in most southern African countries, with the exception of Lesotho and the Seychelles. Angola, the Democratic Republic of Congo, Malawi, Mozambique, Tanzania, Zambia and Zimbabwe have regions of high malaria risk.
In South Africa, malaria is restricted to the low-lying border regions of northern KwaZulu-Natal, Mpumalanga and Limpopo provinces.
Before visiting any of these areas, familiarise yourself with the malaria risk map for South Africa and take the appropriate precautions.
In the southern hemisphere, the malaria risk is particularly high over the December holidays. This is due to the warm, wet weather conditions that favour mosquito growth.
Over the past few years, the non-endemic South African province of Gauteng has reported a high number of cases. This can happen in any province: there have been incidents in the Eastern Cape and Western Cape, as well as the North-West.
Most of these cases are imported from high-risk regions within and outside South Africa.
A few rare cases are the result of odyssean malaria (also known as taxi or airport malaria).
This happens throughout Africa. It is largely associated with migration. This happens when one or more malaria-carrying mosquitoes are accidentally transported from their natural home. They can then randomly infect people outside the malaria-risk area.
When you have an unexplained fever in summer, think malaria. This is true even if you have not travelled to a malaria-risk area.
It is especially important if you stayed near a major transport route or transport hub. These include places such as taxi ranks or bus depots.
Know your enemy’s gameplan
Malaria is preventable and treatable. The odds of a complete recovery are very high if a malaria infection is detected early. This is aided by prompt treatment with effective antimalarial medication.
Symptoms of the milder version of malaria (uncomplicated malaria) are non-specific. This can include fever, headaches, sluggishness, nausea, and muscular/joint pains.
Loss of consciousness, convulsions, jaundice and kidney failure are associated with the more severe, life threatening form of malaria.
The easiest way to prevent yourself from getting malaria is to avoid being bitten by an infected mosquito.
If outdoors during the evening, wear long-sleeved shirts, trousers and socks, and use repellents that contain at least 30% of the insect repellent DEET.
Doors and windows should be screened. Where possible, sleep under a bednet or in an air-conditioned room.
In addition to these non-pharmaceutical measures, you can protect yourself by taking anti-malarial medications which you can get from a pharmacy or primary healthcare clinic.
Discuss your anti-malarial options with a healthcare professional.
Medication that prevents malaria does not mask the symptoms of the disease.
The recommended treatment in South Africa, artemether-lumefantrine (Coartem), is highly effective. This is the most widely used malaria treatment across Africa.
Know the myths about the enemy
You cannot get malaria from drinking contaminated water or eating rotten fruit.
There is limited evidence that vitamin-enriched products or home remedies containing natural products like citronella offer any protection against malaria.
In addition, tonic water contains a very low concentration of antimalarial ingredients. It is therefore not possible for one person to drink sufficient quantities to protect against malaria.
Crucially, one malaria infection will not keep you safe from future infections. You can get malaria more than once.
Finally, always be aware – although the malaria risk is higher in summer, you can also get the disease in the dry season. You could also potentially be infected in any province due to an infected travelling mosquito.
So if you have an unexplained fever, think malaria!
– Mosquito season in southern Africa: tonic water and vitamins won’t protect you but knowing where the hotspots are will – https://theconversation.com/mosquito-season-in-southern-africa-tonic-water-and-vitamins-wont-protect-you-but-knowing-where-the-hotspots-are-will-242620
Source: United States Senator for Massachusetts – Elizabeth Warren
November 04, 2024
With new inflation data showing inflation nearly at Fed’s target, Senators call for .5% cut
“If the Fed moves forward with more rate cuts, housing prices and mortgage rates would thus also likely drop, allowing more families to achieve the American dream.”
Text of Letter (PDF)
Washington, D.C. – Ahead of the Federal Reserve’s (Fed; the Board) November Federal Open Market Committee meeting, U.S. Senator Elizabeth Warren (D-Mass.) and John Hickenlooper (D-Colo.) urged Fed to deliver a 50 basis point (.50%; each basis point is one hundredth of a percent) cut to the federal funds rate.
After months of calling on the Fed to cut the federal funds rate, the Board finally lowered it by 50 basis points in September, the first cut since 2020. The Fed explained: “[t]he Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance.”
Recent economic data shows that inflation has fallen to 2.1 percent, the lowest since February of 2021. There is no need for restrictive interest rates given this inflation data.
Even as the economy remains strong, the demand for workers may be waning due to the Fed’s restrictive monetary policy. New statistics from the Department of Labor indicate that unemployment claims fell while the number of Americans collecting unemployment benefits rose, suggesting unemployed people are having a more difficult time landing jobs.
The Senators noted that borrowing costs, and in turn housing costs, are still too high. Lowering interest rates is key to unlocking more supply: rate cuts will lower the cost of capital, which would help tackle inflation by spurring more housing construction and consequently lowering housing prices. However, the Fed’s high interest rates have suppressed housing construction for years.
“If the Fed moves forward with more rate cuts, housing prices and mortgage rates would thus also likely drop, allowing more families to achieve the American dream,” wrote the senators.
Senator Warren has been ringing the alarm bells about the serious dangers of Chair Powell’s failure to lower interest rates:
In September 2024, Senators Elizabeth Warren, John Hickenlooper (D-Colo.), and Sheldon Whitehouse (D-R.I.) called on the Fed to cut the federal funds rate, currently at a two decade-high of 5.3 percent, by 75 basis points at the September Federal Open Market Committee meeting.
In July 2024, Senators Warren, Hickenlooper (D-Colo.), and Sheldon Whitehouse (D-R.I.) urged Fed Chair Jerome Powell, cut to interest rates at the Fed’s July Federal Open Market Committee (FOMC) meeting, in light of economic data showing that inflation was decreasing and very close to the Fed’s target.
In June 2024, Senators Warren, Rosen (D-Nev.), and Hickenlooper (D-Colo.) wrote to the Federal Reserve (the Fed), urging Chair Jerome Powell to cut the federal funds interest rates from the two-decade-high of 5.5 percent.
In March 2024, Senators Warren and Sheldon Whitehouse (D-R.I.) sent a letter to Chair Powell, expressing concerns about the damaging impact of the Fed’s extreme 2022 and 2023 interest rate hikes, which have halted deployment of clean energy technologies and have undermined the Inflation Reduction Act’s climate and consumer benefits. The senators called on the Fed to cut interest rates to allow for continued progress on clean energy projects and the climate and economic benefits they provide.
In January 2024, Senators Warren, John Hickenlooper (D-Colo.), Jacky Rosen (D-Nev.), and Whitehouse sent a letter to Chair Powell, calling on the Fed to reverse its troubling interest rate hikes that have driven mortgage rates to 20-year highs and have put affordable housing out of reach for too many Americans.
In July 2023, Senator Warren sent a letter to Chair Powell, raising concerns about the disproportionate impact of the Fed’s monetary policy amid rising unemployment for Black workers.
In May 2023, Senator Warren led lawmakers in a letter to Chair Powell, calling on the Fed to pause interest rate hikes and respect its dual mandate of maximum employment and price stability, particularly in the wake of recent turmoil in the banking system following the collapses of Silicon Valley Bank, Signature Bank, and First Republic Bank. The lawmakers expressed serious concerns that the Fed’s monetary policy strategy of more rate hikes could trigger a recession, throw millions out of work, and crush small businesses.
In March 2023, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren questioned Chair Powell on the Fed’s monetary policy plan and its projection that the unemployment rate will rise sharply to 4.6% by the end of the year if the Fed continues to raise interest rates. Senator Warren highlighted that the Fed’s projections suggest that nearly 2 million people will lose their jobs, and that history shows that the Fed has a poor track record of containing moderate increases in unemployment.
In November 2022, Senator Warren and Representative Madeleine Dean (D-Pa.) led their colleagues in sending a letter to Chair Powell, expressing concern and seeking answers about the Fed’s most recent economic projections, its intentions to continue to raise interest rates at a rapid pace, and its disturbing warning to American families that they should expect “pain” in the coming months.
In July 2022, Senator Warren published an op-ed in the Wall Street Journal warning that the Fed’s decision to aggressively raise interest rates risks triggering a devastating recession.
In June 2022, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren called out Chair Powell for the Fed’s announced interest rate increases that wouldn’t address the key drivers of inflation. Chair Powell confirmed that the Fed’s interest rate increases will not bring down gas and food prices, two of the biggest drivers of inflation.
The grouping which originally began with Brazil, Russia, India, China – was coined in 2001 by then Goldman Sachs chief economist Jim O’Neill – expanded to include South Africa in 2010.
The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies.
Its creation was initiated by Russia.
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The group is not a formal multilateral organisation like the United Nations, World Bank or the Organisation of the Petroleum Exporting Countries (OPEC).
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The heads of state and government of the member nations convene annually with each nation taking up a one-year rotating chairmanship of the group.
It now represents around 3.5 billion people – 45 per cent of the world’s population.
Its combined economies are valued at over $28.5 trillion – nearly a third of the global economy.
But which countries have recently joined? Which want to join now and why? And what does the expansion mean for the West?
With Prime Minister Narendra Modi attending the 16th Brics Summit in Kazan, let’s take a closer look at how Brics is expanding.
Which countries joined recently?
Brics in 2023 invited six countries – Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates – to become new members of the bloc.
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The formal invitation was made during a summit in August in Johannesburg.
While all BRICS members had publicly expressed support for growing the bloc, there were divisions among the leaders over how much and how quickly.
Members at the time said the move would help reshuffle a world order they view as outdated.
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In January, five of these nations – Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates – said they were joining the BRICS bloc.
Argentina declined the invitation to join.
As per Al Jazeera, this came after President Javier Milei took office.
Milei has vowed to increase ties with the West.
However, Saudi Arabia later said it is not yet joining the group and that the matter is being considered by its leadership.
Ultimately, Egypt, Iran, Ethiopia, and UAE joined the bloc.
Which want to join now and why?
Dozens of countries have voiced interest in joining the grouping.
Algeria, Bolivia, Cuba, Democratic Republic of Congo, Turkiye, Comoros, Gabon, Kazakhstan, Vietnam, Thailand and Malaysia have all expressed interest in joining the forum.
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Turkiye, a Nato member, formally requested to join BRICS in September.
As p_er Bloomberg,_ Turkiye is looking to become part of the bloc as it eyes increasing its global influence.
President Recep Tayyip Erdogan’s administration is looking further than its time-tested allies in the West, people familiar with the development told the outlet.
Erdogan’s government believes the centre of geopolitics is moving away from the developed economies.
Turkiye is also eyeing improving its economic relationship with Russia and China.
Turkiye under President Tayyip Erdogan is looking to join Brics. Reuters
This is a departure for the NATO member nation which has historically been suspicious of Moscow and been a US ally.
Turkiye is also thought to be upset over the lack of forward movement in its decades-long attempt to join the European Union.
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According to Al Jazeera, Thailand said it was interested in joining the grouping during the BRICS Dialogue with Developing Countries held in Russia in June.
Malaysia too expressed interest in becoming a member ahead of a visit from Chinese Premier Li Qiang.
The bloc “can help Malaysia’s digital economy grow faster by allowing it to integrate with countries that have strong digital markets and also take advantage of best practices from other members,” Rahul Mishra, associate professor at the Center for Indo-Pacific Studies at Jawaharlal Nehru University in New Delhi, told DW.
“Thailand would also be able to draw investments in important industries including services, manufacturing, and agriculture,” Mishra added.
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Bolivia’s President Luis Arce has expressed interest in BRICS membership.
His government has said it is determined to curb dependence on the US dollar for foreign trade, instead turning to the Chinese yuan, in line with BRICS leaders’ stated aim to reduce dependence on the US currency.
Algeria last July it has applied for BRICS membership and to become a shareholder in the New Development Bank, the so-called BRICS Bank.
The North African nation is rich in oil and gas resources and is seeking to diversify its economy and strengthen partnership with China and other countries.
The countries hope the bloc can level the global playing field. Most nations view BRICS as an alternative to global bodies viewed as dominated by the traditional Western powers and hope membership will unlock benefits including development finance, and increased trade and investment.
Dissatisfaction with the global order among developing nations was exacerbated by the COVID-19 pandemic when life-saving vaccines were hoarded by the rich countries.
“That so many countries are willing to go to Russia, deemed a pariah state not so long ago for having violated international law by invading Ukraine, confirms a trend followed by an increasing number of countries in the world: They don’t want to have to choose between partners,” Tara Varma, a visiting fellow at the Brookings Institute, told Al Jazeera.
Adam Gallagher, writing for USIP.org, noting the size of the bloc, said there are clear economic benefits to joining the grouping.
“Intra-BRICS trade is one area that the group has found its footing,” Gallagher said. He noted how the June 2024 BRICS foreign minister’s meeting encouraged “enhanced use of local currencies in trade and financial transactions” by Brics members.
Gallagher said that countries like Malaysia, who want to join the grouping, are looking to form alliances across the globe and preserve their strategic autonomy.
“For these countries, it’s not about taking sides. Some countries also believe BRICS membership will give them a greater voice and representation in international politics. It’s not all about anti-Western ideology,” Gallagher wrote.
James Chin, a professor of Asian Studies at the University of Tasmania told DW “both Thailand and Malaysia are seen as middle powers.”
“It’s better for them to join groups like BRICS so that they will have a larger voice in the international arena. But the major benefit will be trade,” Chin added.
What does the expansion mean for the West?
Experts say that these growing number of nations who want to join Brics shows that they want their financial independence – and that the established world order may be vulnerable.
“In the aftermath of the war in Gaza, Russia and China have more effectively harnessed this anti-Western sentiment, capitalising on frustrations over Western double standards as well as the use of sanctions and economic coercion by the West,” Asli Aydintasbas, a Turkish foreign policy expert, was quoted as telling the Brookings Institute as per Al Jazeera.
“It doesn’t mean that middle powers want to trade US dominance for Chinese, but it means they are open to aligning with Russia and China for a more fragmented and autonomous world.”
As per Al Jazeera, Brics members and their associates clearly want to decrease their reliance on the US dollar and Europe’s Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.
Malaysian Prime Minister Anwar Ibrahim walks with Indian Prime Minister Narendra Modi during Anwar’s ceremonial reception at India’s Presidential Palace Rashtrapati Bhavan in New Delhi, India, August 20, 2024. REUTERS
This comes after Russia was cut-off from the system in the aftermath of the invasion of Ukraine in 2022.
“China now has an alternative to the SWIFT payment system, though limited in use, and countries like Turkiye and Brazil increasingly restructure their dollar reserves into gold,” Aydintasbas added. “Currency swaps for energy deals are also a popular idea – all suggesting a desire for greater financial independence from the West.”
As per CFR.org, Western nations until now have talked down the bloc as a threat.
White House National Security Advisor Jake Sullivan has said Brics isn’t a geopolitical rival, while Treasury Secretary Janet Yellen has downplayed the de-dollarisation strategy of Russia and China.
But some argue that the West needs to do some serious introspection.
“The accusation that the West is arrogant toward the needs of the Global South is serious. It cannot be answered by offering ‘value-based partnerships’ and a ‘rules-based’ multilateralism when the interest of the BRICS is focused on changing those rules in global finance, trade, and other standard-setting procedures,” Günther Maihold, senior fellow at the German Institute for International and Security Affairs, was quoted as saying by CFR.org.
“Ignoring BRICS as a major policy force—something the U.S. has been prone to do in the past—is no longer an option,” Tufts University scholars wrote in 2023.
It remains to be seen how the US-led West will react.
(Bloomberg) — The American Sikh separatist targeted in a foiled assassination plot allegedly planned by India said that intelligence agents in New Delhi still want him dead and said that the Biden administration’s “quiet diplomacy” has failed to deter Prime Minister Narendra Modi’s government.
“The risk has increased,” Gurpatwant Singh Pannun said in an interview at his office in New York. “The Modi regime has not faced any consequences. They have not been held accountable. Why would they stop?”
The Indian government has branded him a terrorist and declared that his group Sikhs for Justice — which advocates for a Sikh nation known as Khalistan to be carved out of India’s Punjab state — is an “unlawful organization” that poses a threat to India’s sovereignty.
Pannun’s case first disrupted US-India ties late last year. That’s when the US Justice Department unsealed a superseding indictment in the Southern District of New York alleging that Nikhil Gupta, an Indian national, was recruited by an Indian government employee — known as “CC-1” — to have Pannun killed as part of a broader plan to assassinate overseas activists. At the time, Pannun’s group was organizing unofficial Khalistan referendums among Indian diaspora communities.
Gupta has plead not guilty.
India’s Ministry of External Affairs declined to respond to Pannun’s allegation that he remains a target of assassination. A ministry spokesman previously said the indictment was a “matter of concern,” that the allegations run “contrary to government policy” and that there is a “high-level committee” looking into the issue.
Months earlier in Canada, a Sikh separatist called Hardeep Singh Nijjar — a long-time associate of Pannun’s — was slain in a shooting that Prime Minister Justin Trudeau blamed on India, which rejected the accusations as “absurd.” But the US assassination plot on Pannun was foiled, according to the indictment, when an Indian national, operating under the Indian agent’s direction, inadvertently hired an undercover US agent posing as a potential hit-man.
Indian and US security agencies are in touch, and New Delhi continues to investigate the alleged murder plot, Vikram Misri, India’s foreign secretary, told reporters recently in New Delhi.
Earlier: India, Canada Meet as Arrests Point to Another Sikh Murder Plot
The case has been embarrassing for the Biden administration, which has continued to court Modi in an effort to counterbalance China.
“The question that this episode raises is whether we really are on the same page with this Indian government, and the extent to which an inclination to want to achieve a broader strategic end is maybe leading us to overlook the actually very transactional nature of the relationship,” said Daniel Markey, a former State Department official who’s now at the US Institute of Peace.
The case also represents a collision of geopolitical, criminal and constitutional considerations. India takes separatist movements seriously, given the militant history of the Sikh separatist movement in the 1980s and ongoing political violence in Kashmir. India blames overseas groups for fueling instability and potential violence at home.
Pannun, who worked at a Wall Street bank before turning to human rights law, now has five security guards to protect him and search the bags of even his close friends and associates, he said.
“I can continue to fight for the liberation of Punjab only if I stay alive,” he said. “You are doing a peaceful and democratic referendum, you are sitting at a place — and India has the resources and the proxies and the weapons and the money to kill you. You have to make sure that you survive and you continue the campaign.”
In a recent twist, Pannun filed a civil case in the US seeking restitution against senior Indian officials he alleges are responsible for the assassination attempt. Those allegations are “unsubstantiated” and “unwarranted,” Misri, the foreign secretary, said.
In Canada, which saw India expel dozens of diplomats after Trudeau accused India, the government is holding firm on its accusation that India was behind the killing of Nijjar. “That’s the ultimate breach of our country’s sovereignty,” Foreign Minister Melanie Joly told Bloomberg in an interview on Sept. 30. “That can’t happen again.”
About Sikh Separatists India Is Accused of Targeting: QuickTake
‘Terrorism’ Issue
“For India, the issue is that of terrorism,” said Aparna Pande, a research fellow at the Hudson Institute who put out a report pointing to ties between Khalistan groups and Pakistan, which India blames for fomenting violence in Kashmir. “India also believes that Western countries have shown tolerance towards groups and individuals deemed extremists and terrorists by the Indian government.”
Western law enforcement agencies are now attempting to balance protecting constitutional guarantees of free speech against what India views as a movement with the intent to break up the country — and that it alleges has ties to criminal gangs and smuggling. India also views Sikh protests outside its consulates and embassies as threatening.
Pannun, who was born in Amritsar, India, came to the US as a student. He made the new allegations that his life was still at risk after Sikh separatists in California had their truck “sprayed with bullets,” his group said.
That new attack is reviving concerns among US lawmakers after the original assassination plot prompted some Democratic senators to call on Secretary of State Antony Blinken to mount a strong diplomatic response “no matter the perpetrator.”
Senator Jeff Merkley, an Oregon Democrat, said it was crucial to investigate the California incident and to “send a strong message deterring potential future efforts to undermine the values of free speech and protest that we as a nation hold dear.”
Senior Biden administration officials, including White House National Security Advisor Jake Sullivan, have raised Pannun’s case with Modi’s government. Sullivan said in July that the issue “is sensitive, it is something we are working through,” but that the US effort “has been effective, in my view, mostly because it is taking place behind closed doors.”
Pannun, however, says that “quiet diplomacy” hasn’t worked “in the last 15 months” and that “it will not work in the next three years.” He also the Biden administration was handling his case differently because of its desire to have a strategic relationship with New Delhi.
“Had it been Iran, had it been China, had it been Russia — would the administration’s response be the same?” he asked.
–With assistance from Laura Dhillon Kane and Sudhi Ranjan Sen.
(Updates in last paragraph with additional quote.)
Source: World Trade Organization – WTO (video statements)
The President of the European Council, Charles Michel, has called on the international community to rebuild trust, boost trade and transform multilateral institutions to make the world more peaceful and prosperous. Mr Michel was delivering on 1 November the fifth lecture in the Presidential Lecture Series at the WTO’s headquarters in Geneva.
Full lecture:
More info: https://www.wto.org/english/news_e/news24_e/pls_01nov24_e.htm
Download this video from the WTO website:
https://www.wto.org/english/res_e/webcas_e/webcas_e.htm