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Category: housing

  • MIL-OSI Asia-Pac: LCQ22: Combating sales activities of duty-not-paid cigarettes

    Source: Hong Kong Government special administrative region

         Following is a question by Dr the Hon Ngan Man-yu and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (October 30):
     
    Question:
     
         It has been reported that the sales activities of duty-not-paid cigarettes (illicit cigarettes) have become increasingly rampant in recent years. Lawbreakers have employed adolescents with little life experience to distribute illicit cigarette leaflets, commonly known as “dim sum sheets”, in public housing estates, and there are even “cheap whites promotion teams” wearing tops printed with the brand names of “cheap whites” (i.e. illicit cigarettes packaged in the same way as duty-paid cigarettes) to promote illicit cigarettes to smokers in busy areas. In this connection, will the Government inform this Council:
     
    (1) of the following information on illicit cigarette cases intercepted at source by the Customs and Excise Department (C&ED) in the past three years: the number of such cases, the number of persons involved in such cases, and the market value of the illicit cigarettes involved; what measures the authorities have put in place to step up efforts to intercept at source the smuggling of illicit cigarettes into Hong Kong;
     
    (2) of the following information on the law enforcement operations conducted by C&ED to combat illicit cigarette activities in the past three years: the number of such operations, the number of cases detected, the number and dutiable value of the illicit cigarettes seized, the number and age distribution of persons arrested (with a breakdown by seller and buyer), and the penalty imposed on the convicted persons;
     
    (3) regarding the recruitment of young people by lawbreakers to promote illicit cigarettes, whether C&ED and the Tobacco and Alcohol Control Office (TACO) of the Department of Health have received the related reports, and of the relevant follow-up situations; what measures C&ED and TACO have put in place to prevent young people from participating in the promotional and trafficking activities of illicit cigarettes;
     
    (4) as it has been reported that lawbreakers have set up websites to advertise illicit cigarettes on the Internet, and to advertise and sell illicit cigarettes through social media platforms and instant messaging applications (e.g. Facebook, Instagram and Telegram), what measures C&ED and TACO have put in place to intercept such advertising and sales activities, and whether it has assessed the effectiveness of such measures;
     
    (5) of the total number of reports on suspected illicit cigarette activities received by C&ED through its 24-hour hotline, dedicated crime-reporting email account or online form in the past three years, and the relevant follow-up situations; and
     
    (6) whether C&ED and TACO have considered, by drawing reference from the policy on combating abuses of public housing, setting up a financial reward mechanism for reporting to encourage members of the public to report the sale of illicit cigarettes, so as to reduce the promotional and trafficking activities of illicit cigarettes in public housing estates?
     
    Reply:
     
    President,
     
         Tobacco products are dutiable commodities. Tobacco duty is payable by importers or manufacturers according to the specified rates under the Dutiable Commodities Ordinance (Cap. 109). To protect Government revenue, the Hong Kong Customs and Excise Department (C&ED) has been combating smuggling and trading of illicit cigarettes on different fronts. As for matters relating to tobacco control, they are mainly enforced by the Tobacco and Alcohol Control Office (TACO) of the Department of Health according to the Smoking (Public Health) Ordinance (Cap. 371).
     
         Upon consultation with the Health Bureau, the consolidated reply to the question is as follows:
     
    (1) C&ED has been closely monitoring the control points and illicit cigarettes activities in the city closely, and has strengthened intelligence exchange with the Mainland and overseas law enforcement agencies with a view to intercepting illicit cigarettes at source. The relevant numbers on interception of illicit cigarettes at various control points by C&ED from January 2021 to September 2024 are set out below:
     

    Year
    Number of cases
    Number of persons arrested
    Number of illicit cigarettes seized
    (million)
    Estimated market value
    ($million)

    2021
    3 156
    2 856
    247
    678

    2022
    2 575
    2 246
    634
    1,753

    2023 (Note 1)
    10 452
    10 276
    554
    1,896

    2024 (Note 1)
    (Up to September)
    14 198
    13 783
    191
    841

    Note 1: The significant increase in the number of cases and arrests as compared with 2022 is mainly due to the large increase in the number of incoming passengers intercepted at control points for possessing tobacco products exceeding the duty-free quantity after the full resumption of normal travel between Hong Kong and the Mainland.
     
    (2) From January 2021 to September 2024, C&ED has conducted 11 large-scale special operations to combat illicit cigarette activities at various control points, as well as telephone-ordering activities for or distribution of flyers of illicit cigarettes at public rental housing estates (PRH). In addition, C&ED has been closely monitoring the latest development in the market and strengthened intelligence gathering. If a retailer is found to be selling duty-not-paid cigarettes, C&ED will take resolute enforcement actions. The enforcement figures of C&ED in combating illicit cigarettes through various channels (including daily inspections, interception at various control points, large-scale special operations, etc.) from January 2021 to September 2024 are set out below:
     

    Year
    Number of cases
    Number of persons arrested
    Number of illicit cigarettes seized
    (million)
    Estimated market value
    ($million)
    Duty payable
    ($million)

    2021
    4 009
    3 555
    427
    1,176
    815

    2022
    3 438
    2 813
    732
    2,017
    1,395

    2023Note
    11 806
    10 994
    652
    2,256
    1,541

    2024 (Note 2)
    (Up to September)
    15 014
    14 397
    367
    1,639
    1,208

    Note 2: The significant increase in the number of cases and arrests as compared with 2022 is mainly due to the large increase in the number of incoming passengers intercepted at control points for possessing tobacco products exceeding the duty-free quantity after the full resumption of normal travel between Hong Kong and the Mainland, and the seven large-scale special operations conducted by C&ED in 2023 and 2024.
     
         The number of arrested persons involved in buying or selling illicit cigarettes from January 2021 to September 2024 are set out below:
     

    Year
    Arrested persons
    Age distribution

    Sellers
    Buyers
    Total
    20 or below
    21 to 40
    41 to 60
    61 or above

    2021
    259
    206
    465
    13
    99
    172
    181

    2022
    117
    301
    418
    26
    98
    165
    129

    2023
    185
    401
    586
    28
    145
    222
    191

    2024
    (Up to September)
    244
    262
    506
    15
    86
    207
    198

     
         During the above period, the penalties imposed by the court on illicit cigarette cases ranged from a minimum of $200 (involving 200 illicit cigarettes) to a maximum of imprisonment of 18 months (involving about 12 million illicit cigarettes).
     
    (3), (4) and (6) According to the Smoking (Public Health) Ordinance (the Ordinance), no person shall display or cause to be displayed any smoking product advertisement in any form. Any person who contravenes the prohibitions is liable on summary conviction to a maximum fine of $50,000, and in the case of a continuing offence, to a further penalty of $1,500 for each day during which the offence continues. The distribution of smoking product advertisements in PRH not only involves peddling of suspected duty-not-paid smoking products, but also affects the law and order and management of the estates. Hence, TACO has all along been co-operating with the relevant departments with a view to combating these illegal activities more effectively. A co-operation mechanism has been established among TACO, the Police and the Housing Department to conduct enforcement actions against illegal activities of distributing smoking products advertisements in PRH. Since January this year, the relevant departments have conducted over 220 joint operations in PRH in Hong Kong. During the operations, in addition to patrolling the estates, officers from TACO also provided information to the estate security workers and residents on how to deal with suspected violation. They were also reminded to observe the laws and not to purchase smoking products from unknown sources. TACO will refer any suspected cases of illicit cigarettes that involve violations of the Dutiable Commodities Ordinance to C&ED for further investigation.
     
         Regarding the allegation that some people are distributing illicit cigarettes on the streets, under the Ordinance, no person may give smoking product to another person for promotion or advertisement. Any person who contravenes the prohibitions is liable on summary conviction to a maximum fine of $25,000. TACO has conducted multiple proactive inspections at relevant locations. No illegal activity has been found so far. TACO will closely monitor activities contravening the Ordinance (including those promoting or advertising smoking products), which include arranging covert inspections and taking enforcement actions on an ongoing basis. In addition, TACO will also conduct online inspections. If online smoking product advertisements suspected of contravening the law are found, TACO will request the relevant internet service providers and social media platforms to remove the relevant content.
     
         From January 2023 to August 2024, TACO issued 124 summonses and 43 warning letters regarding offences of displaying or distributing smoking product advertisements, and removed around 2 550 websites and social media accounts/posts involving advertisements of smoking products. Since 2021, 14 offenders have been convicted of the offence related to distributing smoking product advertisements, with a maximum penalty of $8,000.
     
         In addition, C&ED has also been conducting online inspections targeting suspected sale of illicit cigarettes. When suspected cases are found, C&ED will immediately express concerns to and follow up with the relevant websites or social media platforms, including blocking the accounts concerned and removing the relevant illicit cigarettes advertisements. From January to September 2024, a total of 429 relevant advertisements have been removed.
     
         In order to combat illicit cigarettes in a more effective manner and protect non-smokers from tobacco hazards, the Government announced its plan in June this year to implement the next-phase tobacco control measures. They include the introduction of a duty stamp system in order to differentiate duty-paid cigarettes from duty-not-paid ones; to require proofs that tobacco products sold at a price lower than the tobacco duty are duty-paid; and to increase the maximum penalty for dealing with, possession of, selling or buying duty-not-paid cigarettes. The Government expects that the above measures will strengthen the deterrent effect and enhance the effectiveness of law enforcement agencies in combating illicit cigarettes. At present, the Government has no plan to introduce financial incentives for reporting illicit cigarette cases. However, C&ED will seriously follow up on reports of suspected illicit cigarette activities.
     
    (5) The numbers of reports on suspected illicit cigarettes activities received by C&ED through different channels from January 2021 to September 2024 are set out below:
     

    Year
    Reports

    2021
    3 054

    2022
    3 526

    2023
    3 476

    2024
    (Up to September)
    5 640

         C&ED will follow up each report and refer it to frontline staff for investigation if necessary. Since the investigations are confidential, C&ED will not disclose their progress and details.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Islamic Corporation for the Development of the Private Sector (ICD) Commits Eur 40 Million to Nakkas- Basaksehir Section of Türkiye’s Northern Marmara Highway Project

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

    ISTANBUL, Turkey, October 30, 2024/APO Group/ —

    • ICD is investing EUR 40 million in the Nakkaş-Başakşehir section as part of a EUR 1.04 billion funding package.
    • The project incorporates solar energy and LED lighting, aiming to cut energy use and emissions significantly.
    • It’s backed by a consortium led by Rönesans Holding, with support from MDBs and ECAs.

    The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) has signed a EUR 40 million to co-finance the Nakkaş-Başakşehir section of Türkiye Northern Marmara Highway Project.

    The Project  aimes to enhance Istanbul’s east-west connectivity, improve road safety and reduce congestion. It is being developed under a build-operate-transfer agreement by a consortium led by Rönesans Holding A.Ş. in partnership with Samsung C&T Corporation and other Korean investors. It involves a 31.3-km toll road, including a 1.6-km cable-stayed bridge and multiple overpasses and underpasses.

    ICD’s EUR 40 million contribution is part of a broader EUR1.04 billion senior debt package, fully financed by international institutions, including the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), the Islamic Development Bank (IsDB), alongside Atradius and SERV as European export credit agencies, ICIEC, and a consortium of commercial lenders.

    Thanks to Solar Energy Production System to be installed within the scope of the Nakkaş-Başakşehir project, which has “sustainability” at the center of its design, the clean energy obtained from solar panels will meet the energy needs of the highway’s operation and management (O&M) center and service stations.

    The installation of over 4,500 LED lamps, replacing sodium lamps, will cut energy consumption by 37.5%, saving over 35 MWh. Within the scope of the project, in which all O&M highway vehicles are planned to be hybrid or electric, it is expected to save approximately 112 thousand liters of fuel annually.

    While the Nakkaş-Başakşehir Highway Project is expected to prevent 7.9 million tons of greenhouse gas (GHG) emissions in 30 years, in particular, it will reduce particulate matter (PM) emissions by 1,399 tons, nitrogen oxides (NOx) by 58,699 tons and sulfur dioxide (SO2) by 95 tons. tons reduction is aimed.

    MIL OSI Africa –

  • MIL-OSI Russia: Cinema Park “Moskino” invites you to a historical program in honor of National Unity Day

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    On November 3 and 4, the Moskino Cinema Park will present a large-scale historical reconstruction for National Unity Day. The holiday is dedicated to an important event in Russian history that united the country — the liberation of Moscow from Polish-Lithuanian occupation in 1612. City residents and tourists will be able to travel back to those times, get acquainted with the daily life of the residents and see how the militia of Kuzma Minin and Dmitry Pozharsky defeats the invaders in a decisive battle.

    “150 reenactors from Moscow, Vologda, Nizhny Novgorod, Tolyatti and Kaluga will take part in recreating the atmosphere and events of the 17th century. Visitors will be treated to more than 60 historical shows, master classes, lectures, concerts and performances,” she said.

    Natalia Sergunina, Deputy Mayor of Moscow.

    The main part of the program will take place in the Cathedral Square decorations. At 11:00 on November 3 and 4, guests are invited to watch the troop parade, at 12:00 — the performance of horsemen, at 13:00 — maneuvers and drill training of riflemen and pikemen. The largest will be the reconstruction of the decisive battle of the second people’s militia led by Prince Dmitry Pozharsky with the Polish-Lithuanian army, the victory in which helped lead the country out of the Time of Troubles. The event will begin at 17:00.

    Craft classes and interactive activities will be held from 10:00 to 18:00. The territory will house a camp, command headquarters, folk theater, archery range, as well as mints and printing houses. Craftsmen will offer to master the art of blacksmithing and pottery, calligraphy, practice throwing a lasso and pikemanship. Also planned are performances by artists of the court and puppet theaters, lectures on musical instruments of those times and old Russian games.

    Tours of exhibitions of national costumes, military equipment and the everyday life of Muscovites in the 17th century will help you to immerse yourself in the atmosphere of the era.

    On the Gonzaga Theatre site, folk music and dance groups will perform at 12:00 on the weekend. On Sunday at 17:00, there will be a meeting with producer and director Eduard Boyakov. In December, he will organize a multimedia show in the cinema park, the plot of which is connected with the events of the Time of Troubles.

    On November 3 and 4, the Uyezdny Gorod set will host an immersive performance based on the novel by Ilya Ilf and Yevgeny Petrov, The Twelve Chairs. In addition, at various venues, those wishing to do so will be able to take part in filming scenes based on cult films such as The Man from Boulevard des Capucines and Buratino, as well as take photos as the characters from the films.

    Additional information and conditions of visit are published on the websitecinema park “Moskino”.

    How to get there, where to buy a ticket and what to take with you: instructions for guests of the Moskino cinema park

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

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

    https://vvv.mos.ru/nevs/item/145912073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Muscovites from 83 old houses completed the paperwork for the renovation program in the third quarter of 2024

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    All residents of 83 old buildings signed documents in July-September 2024 to receive new apartments under the renovation program. The resettlement of these five-story buildings has been completed or is still ongoing. This was reported by the Minister of the Moscow Government, the head of the capital’s Department of City Property Maxim Gaman.

    “In the third quarter of 2024, 100 percent of Muscovites from 83 old buildings completed the paperwork for housing in new buildings under the renovation program in 10 administrative districts. Thus, about 14 thousand people became owners of equivalent apartments. Most of them live in the east of the capital. There, almost 2.7 thousand Muscovites from 16 old buildings received the keys to new apartments. In the southeast, more than 2.6 thousand people from 14 buildings signed contracts for modern housing, and in the west, more than 2.6 thousand city residents from 13 buildings,” said Maxim Gaman.

    New buildings will be erected on the site of the old buildings, intended for the subsequent resettlement of city residents under the renovation program.

    “From July to September of this year, 23 new buildings were handed over for settlement. The areas around the residential complexes were landscaped. Trees and shrubs were planted there, and children’s and sports grounds were equipped for the leisure of city residents. Residents of 80 old houses have already begun moving to new residential complexes,” noted the Minister of the Moscow Government, Head of the Department of Urban Development Policy of the capital

    Vladislav Ovchinsky.

    Earlier Sergei Sobyanin reported, that 1.2 trillion rubles have been allocated in the draft budget for three years to implement the renovation program.

    The program was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Last year alone, 59 new buildings were handed over for settlement in the capital and over 47 thousand people were resettled. Earlier, Sergei Sobyanin instructed to double the pace of implementation of the renovation program.

    Moscow is one of the leaders among regions in terms of construction rates and volumes. Over the past five years, within the framework of the federal project “Housing” of the national project “Housing and Urban Environment” the volume of construction and commissioning of residential properties in the capital has doubled – from three to five to seven million square meters per year. More information about this and other national projects being implemented in Moscow can be found Here.

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

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

    http://vvv.mos.ru/nevs/item/145936073/

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Labour urged to use wealth tax on super-rich to fund green transition

    Source: Scottish Greens

    30 Oct 2024 Finance

    By taxing the super wealthy we can fund our shift to a fairer, greener and better economy.

    More in Finance

    The Labour government must tax the super-rich and polluters to fund our green transition and tackle the climate and nature emergencies, say the Scottish Greens.

    Speaking ahead of today’s UK Budget statement, the party’s Co-leader, Lorna Slater, has urged the Chancellor to apply a wealth tax on the wealthiest 1% of households in the UK – those with assets worth £3.4 million and above.

    Analysis from the University of Greenwich suggests that this tax would raise over £70 billion a year and potentially up to £130 billion. 

    Ms Slater said:

    “The world is burning around us. We urgently need to see climate leadership from Downing Street.

    “There is more than enough money to support our transition to a greener future and create thousands of high quality, well paid green jobs, but so much of it is being hoarded by a tiny number of extremely wealthy people who don’t need it.

    “The solution is staring us right in the face. By asking the richest people and corporations to pay their fair share we can transform our economy and protect future generations.

    “Making the change is essential for our climate, but it is also crucial for our economy. The UK has a huge opportunity, but it has been squandered by 14 years of a Tory government that actively undermined our climate efforts while giving handouts and tax breaks to its super-wealthy friends and donors.

    “Labour must show the level of ambition that is needed by making a generation-defining investment in clean, green renewable energy and nature restoration and ending the climate vandalism of the Tories.”

    Ms Slater added:

    “The pain that households and families have suffered over the last 14 years was not inevitable. The cuts and austerity were a political choice, and one that Labour has doubled down on by cutting Winter Fuel Payments and refusing to lift the cruel two child cap. Labour can put an end to the cuts and support vital services like our NHS and schools.”

    The tax, supported by the Scottish Greens, would start at a marginal rate of 1%, rising to 5% for those with £5.7 million or more (the richest 0.5%), and 10% for those with £18.2 million (the richest 0.15%). 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Extension to Baroness Newlove’s appointment as Victims’ Commissioner

    Source: United Kingdom – Executive Government & Departments

    The Secretary of State has approved an extension to Baroness Newlove’s term as Victims’ Commissioner from 17 October 2024 to 31 December 2025.

    Baroness Newlove was initially appointed to the role without competition for a year from 17 October 2023 to allow for a further campaign fill the role substantively.

    The Lord Chancellor decided not to continue with that campaign.  Following consultation with the Attorney General and Home Secretary, the Lord Chancellor will readvertise the role later in 2024 with revised criteria which reflect the government’s vision for a strengthened role. To ensure there is no gap in cover in this vital role, The Lord Chancellor has extended Baroness Newlove’s term until 31 December 2025.

    The Victims’ Commissioner independently promotes the interests of victims and witnesses, encourages good practice in their treatment, and regularly reviews the Victims’ Code which sets out the services victims can expect to receive. 

    Biography of the Victims’ Commissioner: 

    • Baroness Helen Newlove is a community reform campaigner and activist. She came to prominence after her husband Garry Newlove was murdered outside the family home by a gang of youths, all alcohol and drug-fuelled, in 2007. After his death she campaigned to tackle anti-social behaviour and the underage and binge drinking culture.
    • Baroness Newlove was given a peerage in the 2010 Dissolution Honours list and sits in the House of Lords as Baroness Newlove of Warrington in the County of Cheshire. 
    • She originally took up the post of Victims’ Commissioner on 4 March 2013, was reappointed for a second term in March 2016, and stepped down on 31 May 2019. She was succeeded by Dame Vera Baird. 
    • On 5 March 2018, Baroness Newlove took up the office of Deputy Speaker of the House of Lords.
    • On 17 October 2023, Baroness Newlove was appointed as the government’s Victims’ Commissioner for a term of 12 months.

    This appointment is made by the Secretary of State under Section 48 of the Domestic Violence, Crime and Victims Act 2004, and is regulated by the Commissioner for Public Appointments. The appointment has been made in line with the Governance Code on Public Appointments.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI New Zealand: Defence News – HMNZS Canterbury to return items from the Manawanui to New Zealand

    Source: New Zealand Defence Force 
    • The HMNZS Canterbury, departs Apia today, for New Zealand with items from the Manawanui on board.
    • Among the items are the three containers removed from the reef following the grounding and subsequent sinking of Manawanui. These have been checked and passed by the Ministry for Primary Industries in Samoa before loading on board.
    • NZDF Senior National Representative, Commodore Andrew Brown took the opportunity to visit the Canterbury and thanked the ship’s company, and Embarked Aviation detachment for their contribution to CHOGM and Operation Resolution.
    • Commodore Brown said, “The Canterbury supported Operation Resolution by transporting Maritime NZ equipment to Samoa.  It’s now returning to New Zealand with Manawanui’s two rigid inflatable boats, equipment, and the three containers removed from the reef last week.”  
    • The Canterbury is returning home to prepare to respond to the high risk weather season coming up in the Pacific after contributing to New Zealand’s support of CHOGM, by providing a platform to operate helicopters and transport equipment such as Hato Hone St Johns ambulances to Samoa.  
    • “As Canterbury returns to New Zealand, we remain focused on our priorities and the complex and technical process of fuel removal.  Work is continuing on engaging a company to undertake this task,” Commodore Brown said.

    MIL OSI New Zealand News –

  • MIL-OSI Video: UK Prime Minister’s Questions and Budget 2024 – 30 October 2024

    Source: United Kingdom UK Parliament (video statements)

    Watch PMQs with British Sign Language (BSL) –

    Prime Minister’s Question Time, also referred to as PMQs, takes place every Wednesday the House of Commons sits. It gives MPs the chance to put questions to the Prime Minister, Sir Keir Starmer MP, or a nominated minister.

    In most cases, the session starts with a routine ‘open question’ from an MP about the Prime Minister’s engagements. MPs can then ask supplementary questions on any subject, often one of current political significance.

    The Leader of the Opposition, Rishi Sunak MP, asks six questions and the leader of the second largest opposition party asks two. If another minister takes the place of the Prime Minister, opposition parties will usually nominate a shadow minister to ask the questions.

    Rachel Reeves MP, Chancellor of the Exchequer, will then deliver the Budget Statement in the House of Commons.

    Want to find out more about what’s happening in the House of Commons this week? Follow the House of Commons on:

    Twitter: https://www.twitter.com/HouseofCommons
    Facebook: https://www.facebook.com/ukhouseofcommons
    Instagram: https://www.instagram.com/ukhouseofcommons

    https://www.youtube.com/watch?v=oT8JZ6Ln5ls

    MIL OSI Video –

  • MIL-OSI Video: UK Prime Minister’s Questions and Budget 2024 with British Sign Language (BSL) – 30 October 2024

    Source: United Kingdom UK Parliament (video statements)

    Prime Minister’s Question Time, also referred to as PMQs, takes place every Wednesday the House of Commons sits. It gives MPs the chance to put questions to the Prime Minister, Sir Keir Starmer MP, or a nominated minister.

    In most cases, the session starts with a routine ‘open question’ from an MP about the Prime Minister’s engagements. MPs can then ask supplementary questions on any subject, often one of current political significance.

    The Leader of the Opposition, Rishi Sunak MP, asks six questions and the leader of the second largest opposition party asks two. If another minister takes the place of the Prime Minister, opposition parties will usually nominate a shadow minister to ask the questions.

    Rachel Reeves MP, Chancellor of the Exchequer, will then deliver the Budget Statement in the House of Commons.

    Want to find out more about what’s happening in the House of Commons this week? Follow the House of Commons on:

    Twitter: https://www.twitter.com/HouseofCommons
    Facebook: https://www.facebook.com/ukhouseofcommons
    Instagram: https://www.instagram.com/ukhouseofcommons

    https://www.youtube.com/watch?v=sx0EJDhmEeU

    MIL OSI Video –

  • MIL-OSI USA: Fact Sheet: Key AI Accomplishments in the Year Since the Biden-⁠ Harris Administration’s Landmark Executive  Order

    US Senate News:

    Source: The White House
    One year ago, President Biden issued a landmark Executive Order to ensure that America leads the way in seizing the promise and managing the risks of artificial intelligence (AI). The Executive Order directed sweeping actions to manage AI’s safety and security risks, protect Americans’ privacy, advance equity and civil rights, stand up for consumers and workers, promote innovation and competition, advance American leadership around the world, and more.
    Today, the Biden-Harris Administration is announcing that Federal agencies have completed on schedule each action that the Executive Order tasked for this past year—more than one hundred in all. Below are some of the Administration’s most significant accomplishments on managing AI’s risks and seizing its promise in the year since President Biden signed his Executive Order.
    Managing Risks to Safety and Security:The Executive Order directed the boldest actions ever taken to protect Americans from a broad range of AI’s safety and security risks, including risks related to dangerous biological materials, software vulnerabilities, and foreign actors’ efforts to develop AI for harmful purposes. Over the last year, to protect safety and security, agencies have:
    Used Defense Production Act authorities to require developers of the most powerful AI systems to report vital information, including results of safety and security testing, to the U.S. government. These companies have notified the Department of Commerce about the results of their red-team safety tests, their plans to train powerful models, and large computing clusters they possess capable of such training. Last month, the Department of Commerce proposed a rule to require the reporting of this information on a quarterly basis.
    Led the way on AI safety testing and evaluations to advance the science of AI safety. The U.S. AI Safety Institute (US AISI) at the Department of Commerce has begun pre-deployment testing of major new AI models through recently signed agreements with two leading AI developers. The Department of Energy (DOE) developed and expanded its AI testbeds and evaluation tools, which it has already used to test models’ risk to nuclear security.
    Developed guidance and tools for managing AI risk. The US AISI and the National Institute of Standards and Technology (NIST) at the Department of Commerce published frameworks for managing risks related to generative AI and dual-use foundation models, and earlier this month, AISI released a Request for Information on the responsible development and use of AI models for chemical and biological sciences. The Department of Defense (DoD) released its Responsible AI toolkit to align AI projects with the Department’s Ethical Principles.
    Issued a first-ever National Security Memorandum (NSM) on AI. The NSM directs concrete steps by Federal agencies to ensure the United States leads the world’s development of safe, secure, and trustworthy AI; to enable agencies to harness cutting-edge AI for national security objectives, including by protecting human rights and democratic values; and to advance international consensus and governance on AI. This essential document serves as a formal charter for the AI Safety Institute, designating it as the center of the whole-of-government approach to advanced AI model testing, and will guide rapid and responsible AI adoption by the DoD and Intelligence Community. The NSM also directs the creation of a Framework to Advance AI Governance and Risk Management in National Security, which provides agile guidance to implement the NSM in accordance with democratic values, including mechanisms for risk management, evaluations, accountability, and transparency. 
    Finalized a framework for nucleic acid synthesis screening to help prevent the misuse of AI for engineering dangerous biological materials. The framework, developed by the Office of Science and Technology Policy (OSTP), encourages nucleic acid synthesis providers to identify gene sequences that could be used to pose national security risks, and to implement customer screening to mitigate the risks of misuse. Federal agencies will require that funding recipients obtain synthetic nucleic acids from vendors that adhere to the framework, starting in 2025. The Department of Homeland Security (DHS) has developed an initial framework with principles for evaluating the effectiveness of screening mechanisms going forward.
    Launched a new Task Force on AI Datacenter Infrastructure. The Task Force provides streamlined coordination on policies to advance datacenter development operations in line with economic, national security, and environmental goals.
    Identified measures—including approaches for labeling content and improving transparency—to reduce the risks posed by AI-generated content. The Department of Commerce submitted to the White House a final report on science-backed standards and techniques for addressing these risks, while NIST has launched a challenge to develop methods for detecting AI-generated content. President Biden has emphasized that the public has a right to know when content is AI-generated, and agencies are working to use these tools to help Americans to know that communications they receive from their government are authentic.
    Combatted AI-generated image-based sexual abuse. Image-based sexual abuse—both non-consensual intimate images of adults and child sexual abuse material—is one of the fastest growing harmful uses of AI to date and disproportionately targets women, children, and LGBTQI+ people. This year, following the Vice President’s leadership in underscoring the urgent need to address deepfake image-based sexual abuse and a White House Call to Action to reduce these risks, leading AI developers and data providers made voluntary commitments to curb the creation of AI-generated image-based sexual abuse material. Additionally, the Department of Justice (DOJ) funded the first-ever helpline to provide 24/7 support and specialized services for victims of the non-consensual distribution of intimate images, including deepfakes. The Department of Education also clarified that school responsibilities under Title IX may extend to conduct that takes place online, including AI-generated abuse.
    Established the AI Safety and Security Board (AISSB) to advise the Secretary of Homeland Security on the safe and secure use of AI in critical infrastructure. The AISSB has met thrice this year to develop a set of recommendations for entities that develop, deploy, and promote accountability for AI systems that assist in delivering essential services to millions of Americans. The work of the AISSB complements DHS’s first-ever AI safety and security guidelines for critical infrastructure owners and operators, which were informed by agencies’ assessments of AI risks across all critical infrastructure sectors. To help protect critical infrastructure further, the Department of Treasury released a report on managing security risks of AI use in the financial sector, and the Department of Energy released an assessment of potential risks to the power grid, as well as ways in which AI could potentially strengthen grid resilience and our ability to respond to threats.
    Piloted AI for protecting vital government software systems. The Department of Defense and DHS conducted AI pilots to address vulnerabilities in government networks used, respectively, for national security purposes and for civilian governmental organizations.
    Standing up for Workers, Consumers, Privacy, and Civil RightsAI is changing the products and services Americans buy, affecting jobs and workplaces, and introducing or exacerbating risks to privacy, equity, and civil rights. President Biden’s Executive Order stands up for Americans in each of these domains, and over the last year, agencies have:
    Developed bedrock principles and practices, along with guidance, to help protect and empower workers as AI is built for and used in the workplace. The Department of Labor (DOL) released AI Principles and Best Practices for employers and developers to build and use AI in ways that center the wellbeing of workers and improve the quality of jobs. DOL also published two guidance documents to assist federal contractors and employers in complying with worker protection laws as they deploy AI in the workplace. In addition, the Equal Employment Opportunity Commission released resources for job seekers and workers to understand how AI use could violate employment discrimination laws.
    Protected patients’ rights and safety, while encouraging innovation, as AI is developed and deployed for healthcare. The Department of Health and Human Services (HHS) established an AI Safety Program to track harmful incidents involving AI’s use in healthcare settings and to evaluate mitigations for those harms. HHS has also developed objectives, goals, and high-level principles for the use of AI or AI-enabled tools in drug development processes and AI-enabled devices. Additionally, HHS finalized a rule that established first-of-its-kind transparency requirements for AI and other predictive algorithms that are part of certified health information technology. HHS also finalized a civil rights regulation, implementing Section 1557 of the Affordable Care Act, that requires covered health care entities to take steps to identify and mitigate discrimination when they use AI and other forms of decision support tools for care.
    Published guidance and resources for the safe, secure, and trustworthy design and use of AI in education. In July, the Department of Education released guidance calling up on educational technology developers to design AI in ways that protect rights, improve transparency, and center teaching and learning. This month, the Department of Education released a toolkit to support schools and educational leaders in responsibly adopting valuable AI use cases.
    Issued guidance on AI’s nondiscriminatory use in the housing sector, which affirms that existing prohibitions against discrimination apply to AI’s use for tenant screening and housing advertisements, while explaining how to comply with these obligations. Additionally, the Consumer Financial Protection Bureau approved a rule requiring that algorithms and AI used for home valuations are fair, nondiscriminatory, and free of conflicts of interest.
    Set guardrails on the responsible and equitable use of AI and algorithmic systems in administering public benefits programs. The Department of Agriculture’s guidance provides a framework for how State, local, Tribal, and territorial governments should manage risks for uses of AI and automated systems in critical benefits programs such as SNAP, while HHS released a plan with guidelines on similar topics for benefits programs it oversees.
    Affirmed commitments to prevent and address unlawful discrimination and other harms resulting from AI. DOJ’s Civil Rights Division convenes federal agency civil rights offices and senior government officials to foster AI and civil rights coordination. Five new agencies also joined a 2023 pledge to uphold America’s commitment to fairness, equality, and justice as new technologies like AI become more common in daily life.
    Advanced privacy protections to safeguard Americans from privacy risks that AI creates or exacerbates. In particular, the National Science Foundation (NSF) and DOE established a research network dedicated to advancing the development, deployment, and scaling of privacy-enhancing technologies (PETs), while NSF launched the $23 million initiative Privacy-preserving Data Sharing in Practice program to apply, mature, and scale PETs for specific use cases and establish testbeds to accelerate their adoption. Simultaneously, DOE launched a $68 million effort on AI for Science research, which includes efforts at multiple DOE National Laboratories and other institutions to advance PETs for scientific AI. The Department of Commerce also developed guidelines on evaluating differential privacy guarantees. The Office of Management and Budget (OMB) released a Request for Information (RFI) on issues related to federal agency collection, processing, maintenance, use, sharing, dissemination, and disposition of commercially available information containing personally identifiable information. OMB also released an RFI on how federal agencies’ privacy impact assessments may be more effective at mitigating privacy risks, including those that are further exacerbated by AI and other advances in technology and data capabilities.
    Harnessing AI for GoodOver the last year, agencies have worked to seize AI’s enormous promise, including by collaborating with the private sector, promoting development and use of valuable AI use cases, and deepening the U.S. lead in AI innovation. To harness AI for good, agencies have:
    Launched the National AI Research Resource (NAIRR) pilot and awarded over 150 research teams access to computational and other AI resources. The NAIRR pilot—a national infrastructure led by the National Science Foundation (NSF) in partnership with DOE and other governmental and nongovernmental partners—makes available resources to support the nation’s AI research and education community. Supported research teams span 34 states and tackle projects covering deepfake detection, AI safety, next-generation medical diagnoses, environmental protection, and materials engineering.
    Promoted AI education and training across the United States. DOE is leveraging its network of national laboratories to train 500 new researchers by 2025 to meet demand for AI talent, while NSF has invested millions of dollars in programs to train future AI leaders and innovators. These programs include the EducateAI initiative, which helps fund educators creating high-quality, inclusive AI educational opportunities at the K-12 through undergraduate levels that support experiential learning in fields such as AI and build capacity in AI research at minority-serving institutions.
    Expanded the ability of top AI scientists, engineers, and entrepreneurs to come to the United States, including by clarifying O-1 and H-1B visa rules and working to streamline visa processing.
    Released a report on the potential benefits, risks, and implications of dual-use foundation models for which the model weights are widely available, including related policy recommendations. The Department of Commerce’s report draws on extensive outreach to experts and stakeholders, including hundreds of public comments submitted on this topic.
    Announced a competition for up to $100 million to support the application of AI-enabled autonomous experimentation to accelerate research into—and delivery of—targeted, industry-relevant, sustainable semiconductor materials and processes.
    Established two new National AI Research Institutes for building AI tools to advance progress across economic sectors, science, and engineering. The NSF-led AI Research Institutes launched in September will develop AI tools for astronomical sciences, with broader applications across scientific disciplines. Earlier this year, NSF also funded 10 inaugural Regional Innovation Engines (NSF Engines), seven of which include a focus on advancing AI.
    Announced millions of dollars in further investments to advance responsible AI development and use throughout our society. These include $13 million invested by DOE in the VoltAIc initiative for using AI to streamline permitting and accelerate clean energy deployment, as well as $68M from DOE to fund AI for scientific research to accelerate scientific programming and develop energy efficient AI models and hardware. DOE has also launched the Frontiers in AI for Science, Security, and Technology (FASST) initiative roadmap and request for information to harness AI for scientific discovery, national security, energy and electric grid resilience, and other national challenges, building on AI tools, models, and partnerships. NSF, in partnership with philanthropy, announced an inaugural investment of more than $18 million to 44 multidisciplinary, multi-sector teams across the U.S. to advance the responsible design, development, and deployment of technologies including AI, ensuring ethical, legal, community, and societal considerations are embedded in the lifecycle of technology’s creation.
    Issued a first-ever report analyzing AI’s near-term potential to support the growth of America’s clean energy economy. DOE’s National Laboratories also issued a long-term grand challenges report identifying opportunities in AI for energy over the next decade. 
    Released a vision for how AI can help us achieve our nation’s greatest aspirations. AI Aspirations sets forth goals to create a future of better health and opportunity for all, mitigate climate change and boost resilience, build robust infrastructure and manufacturing, ensure the government works for every American, and more. In furtherance of these goals, HHS launched CATALYST, a research and development program focused on the potential use of AI to better predict drug safety and efficacy before clinical trials start. In complement, the President’s Council of Advisors on Science and Technology also authored a report outlining AI’s potential to revolutionize and accelerate scientific discovery.
    Published guidance addressing vital questions at the intersection of AI and intellectual property. To advance innovation the U.S. Patent and Trademark Office (USPTO) has released guidance documents addressing the patentability of AI-assisted inventions, on the subject matter eligibility of patent claims involving inventions related to AI technology, and on the use of AI tools in proceedings before USPTO.
    Bringing AI and AI Talent into GovernmentAI can help government deliver better results for the American people, though its use by Federal agencies can also pose risks, such as discrimination and unsafe decisions. Bringing AI and AI-enabling professionals into government, moreover, is vital for managing these risks and opportunities and advancing other critical AI missions. Over the last year, agencies have:
    Issued the first-ever government-wide policy to strengthen governance, mitigate risks, and advance innovation in federal use of AI. OMB’s historic policy, M-24-10, requires agencies to implement concrete safeguards when using AI in a way that could impact Americans’ rights or safety. These safeguards include a series of mandatory risk management practices to reliably assess, test, and monitor AI’s impacts on the public and provide greater transparency into how the government uses AI. OMB’s policy also directs agencies to designate Chief AI Officers to coordinate the use of AI across their agency, while expanding and upskilling their AI workforce and removing barriers to adopting AI for all manner of purposes—from addressing climate change to advancing public health and safety.
    Released a government-wide policy to advance responsible acquisition of AI by Federal agencies. M-24-18, published this month by OMB, helps ensure that when Federal agencies acquire AI, they have the information and tools necessary to manage risks, promote a competitive marketplace, and collaborate on strategic planning. This work directs the Federal government—the largest buyer in the U.S. economy—to advance AI innovation and risk management through responsibly exercising its purchasing power.
    Hired over 250 AI practitioners into the Federal government through the AI Talent Surge. Tech talent programs ramped up hiring for AI talent, with the Presidential Innovation Fellows bringing on their first-ever AI cohort, DHS establishing their AI Corps with over 30 members onboarded to date, and the U.S. Digital Corps providing pathways for early-career technologists to join Federal service. AI talent has been instrumental in delivering on critical AI priorities, from using AI to deliver top-tier government services, to protecting the public’s rights and safety in the use of AI.
    Established the Chief AI Officers Council to harmonize best practices and sharing of resources across the interagency to implement OMB’s guidance and coordinate the development and use of AI in agencies’ programs and operations.
    Introduced expanded reporting instructions for the federal AI use case inventory to include identifying use cases that impact rights or safety and how the agency is addressing the relevant risks in line with OMB’s policies. 
    Bolstered the public interest technology ecosystem. Building on the AI Talent Surge, the White House announced funding across government, academia, and civil society to support education and career pathways that will help ensure government has access to diverse, mission-oriented technology talent.
    Activated new hiring authorities to bring AI and AI-enabling talent into agencies. As part of the AI Talent Surge, the Office of Personnel Management (OPM) granted new hiring authorities, including direct hire authorities and excepted service authorities, for agencies to rapidly bring on top-tier AI and AI-enabling talent, and released guidance on skills-based hiring and pay and leave flexibilities to best position agencies to hire and retain AI and AI-enabling talent. Additionally, OPM collaborated with partners to run three National Tech to Gov career fairs to connect the public with AI and tech jobs in government, surfacing roles from over 64 Federal, state, and local government employers to over 3,000 job seekers.
    Advancing U.S. Leadership AbroadPresident Biden’s Executive Order directed work to lead global efforts to capture AI’s promise, mitigate AI’s risks, and ensure AI’s responsible governance. To advance these goals, the Administration has:
    Sponsored and passed a landmark United Nations General Assembly resolution. The unanimously adopted resolution, with more than 100 co-sponsors (including the People’s Republic of China), lays out a common vision for countries around the world to promote the safe and secure use of AI to address global challenges.
    Engaged foreign leaders on strengthening international rules and norms for AI, including at the 2023 UK AI Safety Summit and the AI Seoul Summit in May 2024, where Vice President Harris represented the United States. In the United Kingdom, Vice President Harris unveiled a series of U.S. initiatives to advance the safe and responsible use of AI, including the establishment of AISI at the Department of Commerce.
    Announced a global network of AI Safety Institutes and other government-backed scientific offices to advance AI safety at a technical level. This network, which will formally launch in November at the inaugural network convening in San Francisco, will accelerate critical information exchange and drive toward common or compatible safety evaluations and policies.
    Expanded global support for the U.S.-led Political Declaration on the Responsible Military Use of Artificial Intelligence and Autonomy. Fifty-six nations now endorse the political declaration, which outlines a set of norms for the responsible development, deployment, and use of military AI capabilities. DoD has expanded the scope of its international AI Partnership for Defense to align global Responsible AI practices with the Political Declaration’s norms.
    Developed comprehensive plans for U.S. engagement on global AI standards and AI-related critical infrastructure topics. NIST and DHS, respectively, will report on priority actions taken per these plans in 90 days.
    Signed the Council of Europe’s Framework Convention on AI and Human Rights, Democracy, and the Rule of Law. This first multilateral treaty on AI represents a powerful affirmation of the relevance of existing human rights obligations to AI activities and establishes a strong baseline in international law for responsible government use of AI. The United States’ signature reflects its commitment to ensuring that AI technologies are designed, developed, used, and governed in ways that promote respect for human rights and democratic values. 
    Led the development of a Joint Statement on Responsible Government Practices for AI Technologies. The Joint Statement, to which the 41 countries of the Freedom Online Coalition committed, calls on governments to develop, use, and procure AI responsibly, including by respecting international obligations and commitments, assessing impacts of AI systems, conducting ongoing monitoring, ensuring adequate human training and assessment, communicating and responding to the public, and providing effective access to remedy. 
    Launched the Global Partnership for Action on Gender-Based Online Harassment and Abuse.  The 15-country Global Partnership has advanced international policies to address online safety, and spurred new programs to prevent and respond to technology-facilitated gender-based violence, including through AI.
    The Department of State and the U.S. Agency for International Development published resources to advance global AI research and use of AI for economic development. The AI in Global Development Playbook incorporates principles and practices from NIST’s AI Risk Management Framework to guide AI’s responsible development and deployment across international contexts, while the Global AI Research Agenda outlines priorities for advancing AI’s safe, responsible, and sustainable global development and adoption.
    The table below summarizes many of the activities that federal agencies have completed in response to the Executive Order.

    MIL OSI USA News –

  • MIL-OSI Submissions: Business – Welcoming Steve Nadin: A New Era in Functional Consulting at Brainstorm

    Source: Brainstorm

    Brainstorm is excited to welcome Steve Nadin as its Functional Consultant. With a diverse background in supply chain management and consulting, Steve brings a wealth of experience to the team.

    Steve grew up in Nottingham, England, before making the move to Australia in 1991. Family is a big part of his life—he and his ex-wife have 4 children and 11 grandchildren, with one more on the way in February 2025. Steve recently celebrated another exciting milestone, marrying his partner of 9 years, who also has 4 grown-up children and 4 grandchildren. Together, they have built a rich, blended family.

    Reflecting on this chapter of his life, Steve shares, “My family means the world to me, and it’s been a beautiful journey blending our lives together. We have a large, vibrant family, and I’m excited about welcoming our newest grandchild next year.”

    Steve’s career began at Boots the Chemists, a major UK manufacturing and pharmaceutical retailer, where he spent 14 years in various roles across Accounting, Logistics, and Supply Chain. After relocating to Australia, Steve continued to excel in operational and supply chain management roles, eventually launching his own business improvement consultancy in 2011. Unfortunately, the business was impacted by COVID-19 restrictions, leading Steve to shift gears.

    In 2021, he joined SMC as a Senior Consultant, where he helped businesses enhance their operations and navigate digital transformation. His success at SMC led to his promotion to Consulting Manager in 2023, where he played a key role in driving innovation and efficiency for a variety of clients.

    Steve first connected with Brainstorm at the CEMAT exhibition in 2024, where he was drawn to the company’s dynamic growth and future potential. “Meeting with Evelyn at the CEMAT exhibition was a turning point for me,” he explains. “Brainstorm’s vision and the direction it’s headed in really sparked my interest. It’s a company that’s truly on the rise, and I knew I wanted to be a part of that.”

    Now, as Brainstorm’s Functional Consultant, Steve is eager to contribute his wealth of experience in supply chain management and operational improvement. While his role is still evolving, he is excited about the journey ahead and looks forward to helping Brainstorm continue its impressive trajectory.

    Reflecting on Career Milestones, two standout moments in Steve’s career include developing a distribution network in the U.S. for an Australian celebrity chef and managing the setup of a large 28,000m² greenfield warehouse in Melbourne. From board approval to go-live, Steve ensured the project was delivered on time and within budget—a feat that he still looks back on with pride.

    “I’m particularly proud of the Melbourne warehouse project,” he recalls. “It was a massive undertaking, but it came together seamlessly. To see everything work out exactly as planned was incredibly rewarding.”

    Steve is looking forward to making a significant impact at Brainstorm, and the team is equally excited to have him on board.

    BrainStorm is a software company that specialises in two areas. They help distribution and manufacturing businesses get their ERP technology in order, and help scaling businesses implement and integrate their software systems.

    They do what they do because there’s too much off the shelf software that doesn’t actually solve the business problems that they’re intended to. BrainStorm has saved their customers over $150million dollars in the past year.

    MIL OSI – Submitted News –

  • MIL-OSI United Kingdom: Two social landlords fail to meet RSH’s consumer standards

    Source: United Kingdom – Executive Government & Departments

    The Regulator of Social Housing has today published regulatory judgements for seven social housing landlords.

    Sandwell Metropolitan Borough Council and Willow Tree Housing Partnership were both given a C3 grading by RSH, meaning they failed to meet the new consumer standards, introduced on 1 April 2024, and will need to make significant improvements.

    Meanwhile Barnsley Metropolitan Borough Council became the first local authority to receive a C1 grading.

    Following responsive engagement with Sandwell MBC about the Safety and Quality Standard due to its Tenant Satisfaction Measure (TSM) return, RSH found:

    • The council was only able to evidence that required asbestos management surveys or re-inspections had been carried out on around 2% of relevant buildings.
    • Although electrical safety inspections had been completed for 96% of its 27,900 homes, the council was unable to monitor or report on the completion of remedial actions.
    • A backlog of more than 14,000 overdue repairs, with over 90% of these yet to be assigned for completion.
    • Accurate, up-to-date information was available for only 5% of the council’s homes.

    Following an inspection completed in October 2024 and earlier responsive engagement carried out following a self-referral from Willow Tree relating to the Rent Standard, RSH found:

    • Around 185 tenancies had been overcharged as a result of errors made in setting rents over a prolonged period.
    • Limited information on the quality of its homes to assure us that they were meeting the Decent Homes Standard.
    • Improvement is needed to more proactively identify and manage of damp and mould.
    • Evidence of weaknesses in the provision of an effective, efficient and timely repairs service.

    Willow Tree has now corrected its formula rents and has issued refunds worth £133k over the last six years.

    Kate Dodsworth, Chief of Regulatory Engagement at RSH, said:

    Improving data management can help address the root cause of many of the issues we see. Without accurate, up-to-date information on homes, it is nearly impossible to deliver the outcomes of our standards and provide safe, decent places to live for tenants.

    Today’s judgements reflect the range of grades we are seeing across the spectrum in the early days of our new consumer remit. We are working intensively with each of the landlords where there are failings, as they put things right for their tenants.

    Even when a landlord has been awarded a C1 grading, there is always room for improvement.

    Our governance and financial viability standards remain as important as ever. Landlords need to keep a tight grip on identifying and mitigating risks to avoid problems now and later down the line.

    The other five judgements were part of RSH’s planned inspections of all large social landlords (those with over 1,000 homes) over a four-year cycle. 

    Provider Reason for publication Grades
    Broadacres Housing Association Limited Inspection C2 G2 V2
    Joseph Rowntree Housing Trust Inspection C2 G1 V2 – Issues relating to rent setting have not yet been addressed
    Lincolnshire Housing Partnership Limited Inspection C2 G1 V2
    Sandwell Metropolitan Borough Council Responsive engagement C3
    The Industrial Dwellings Society (1885) Limited Inspection C2 G2 V2
    Willow Tree Housing Partnership Limited Inspection and responsive engagement C3 G2 V2
    Barnsley Metropolitan Borough Council Inspection C1

    Notes to editors

    1. On 1 April 2024 RSH introduced new consumer standards for social housing landlords, designed to drive long-term improvements in the sector. It also began a programme of landlord inspections. The changes are a result of the Social Housing Regulation Act 2023 and include stronger powers to hold landlords to account. More information about RSH’s approach is available in its document Reshaping Consumer Regulation.
    2. More information about RSH’s responsive engagement, programmed inspections and consumer gradings is also available on its website.
    3. RSH promotes a viable, efficient and well-governed social housing sector able to deliver more and better social homes. It does this by setting standards and carrying out robust regulation focusing on driving improvement in social landlords, including local authorities, and ensuring that housing associations are well-governed, financially viable and offer value for money. It takes appropriate action if the outcomes of the standards are not being delivered.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: LCQ13: Promoting students’ physical and mental health

    Source: Hong Kong Government special administrative region

    LCQ13: Promoting students’ physical and mental health
    LCQ13: Promoting students’ physical and mental health
    *****************************************************

         Following is a question by Dr the Hon Hoey Simon Lee and a written reply by the Secretary for Education, Dr Choi Yuk-lin, in the Legislative Council today (October 30): Question:      Last year, the Ministry of Education issued the Special Action Plan for Comprehensively Strengthening and Improving the Mental Health Education for Students in the New Era (2023-2025), pointing out that promoting the physical and mental health and all-round development of students is an important issue. However, there are views pointing out that a number of student suicide cases were reported in Hong Kong at the beginning of the school year in September this year, highlighting the critical situation of students’ mental health and the need for the Government to strengthen the co-operation among schools, families and the community in order to establish a more comprehensive support system. In this connection, will the Government inform this Council: (1) whether it will review afresh the Three-Tier School-based Emergency Mechanism implemented in December last year in order to strengthen the assistance to schools in early identifying students with higher suicidal risk and providing them with appropriate support expeditiously; (2) whether it will formulate quantifiable guidelines (e.g. setting maximum daily homework load) based on the four elements (i.e. Rest, Relaxation, Relationship and Resilience) and the objectives for promoting mental health covered in the Education Bureau’s 4Rs Mental Health Charter to enable schools to take practical actions to reduce student stress; (3) whether it will further implement small class teaching and improve the teacher-student ratios so as to increase the level of student participation and the opportunities for teacher-student interaction, so that teachers can better understand the individual needs and challenges of each student, thereby enhancing the care and counselling for individual students; (4) whether it will improve the resources for life-wide learning so that schools can be more flexible in applying them to help students achieve the aims of whole-person development; (5) whether it will strengthen the comprehensive implementation of positive education and the establishment of a caring school culture, so as to enhance the sense of well-being in schools; and (6) as some studies have pointed out that the emotional stress of teachers and parents positively correlates with the depression level of students, whether the authorities will introduce various activities and measures (e.g. streamlining the administrative work of schools) at the level of teachers and parents to relieve their emotional stress, so as to prevent their negative emotions from affecting students? Reply: President,      The Education Bureau (EDB) attaches great importance to physical and psychological well-being and whole-person development of students, and has been assisting schools in adopting the Whole School Approach at three levels, namely Universal, Selective and Indicated, to promote students’ mental health.      Our reply to the question raised by Dr the Hon Hoey Simon Lee is as follows: (1) The Government has implemented the Three-tier School-based Emergency Mechanism in all secondary schools in Hong Kong since December 2023 through cross-departmental collaboration among the EDB, the Social Welfare Department and the Health Bureau, working with the schools’ multidisciplinary teams, the off-campus support network and medical services for early identification and support of students with high risk. The 2024 Policy Address has announced to extend the Mechanism to the end of 2025 and that enhancement would be made to strengthen collaboration. The Government will continue to review the operation of the Mechanism. (2) The EDB implements the 4Rs Mental Health Charter in 2024 to foster the mental health of students, staff and parents in a more holistic manner. It is pleased to see that over 500 schools have joined the Charter. In the relevant circular memorandum, the EDB has set out the action pledges that participating schools have to achieve in relation to the four elements for promoting mental health (i.e. rest, relaxation, relationship and resilience). Schools are also required to implement various measures and organise activities for the promotion of students’ mental health starting from this school year to help students develop healthy living habits and positive interpersonal relationships, provide them with more opportunities to relax and reduce stress, and enhance their sense of well-being and resilience. In particular, schools should formulate an appropriate school-based assignment policy and co-ordinate the workload across different subjects to strike a balance between the quality and quantity of assignments. (3) It is an established government policy to implement small class teaching (SCT) in public sector primary schools. SCT is a teaching strategy that provides teachers with an environment conducive to greater flexibility in adopting different teaching strategies for diversified educational activities and promoting teacher-student and student-student interactions. Currently, over 90 per cent of public sector primary schools in Hong Kong have implemented SCT, achieving the target set in the 2022 Policy Address one year ahead of schedule. The EDB has also arranged nine schools to start implementing SCT in the 2025/26 school year. By then, the percentage of public sector primary schools implementing SCT will increase to nearly 95 per cent. The EDB will continue to prudently assess the circumstances of individual districts/school nets and maintain communication with schools to pragmatically and flexibly advance SCT in public sector primary schools as soon as possible.      The current standard class size of 25 for primary schools implementing SCT is smaller when compared to the average class size in some advanced places. For secondary schools, the current allocation class size of public sector secondary schools ranges from 31 to 34, while the actual average class size is just 27.1, which is comparable to those in other developed countries. With the implementation of various measures, the overall teacher-to-student ratios in public sector primary and secondary schools have been improving from 1:14.4 and 1:14.5 respectively in the 2012/13 school year to 1:11.9 and 1:11.1 respectively in the 2023/24 school year, which are better than those in most other regions, providing teachers with greater flexibility to nurture students’ whole-person development. (4) The EDB has been proactively encouraging schools to promote students’ life-wide learning in and outside the classroom.  Starting from the 2019/20 school year, the EDB has been providing a recurrent Life-wide Learning Grant (the Grant) to all public sector schools and schools under the Direct Subsidy Scheme each year, with the aim of supporting schools in organising more out-of-classroom experiential learning activities and procuring the necessary equipment, so as to enrich the learning experiences of students. In view of the latest education development and students’ needs, the EDB issued a circular in September this year to update the ambit and guidelines on the use of the Grant, related examples, etc, which includes encouraging schools to make good use of the Grant to organise activities relating to the promotion of students’ mental health, or procure related services, materials and learning and teaching resources. (5) The EDB has all along been encouraging schools to promote positive education and help students face challenges positively. In terms of curriculum, the EDB strives to nurture students with a positive and optimistic attitude towards life through values education. The Values Education Curriculum Framework (Pilot Version) released in 2021 has included “strengthening life education” as one of its emphases, with continuous support given to schools to foster students’ positivity and a positive and optimistic attitude towards life through learning as well as life-wide learning activities within and beyond the classroom. In addition, diversified student activities have been organised to help create a caring and harmonious campus atmosphere. Examples of such include the launch of the “Active Students, Active People” Campaign” to support schools in promoting physical activities; the organisation of Understanding Adolescent Project in primary schools, the Enhanced Smart Teen Project in secondary schools in collaboration with disciplinary forces and uniform groups, and the Pupil Ambassador Scheme on Positive Living to enhance students’ resilience through adventure-based, team-building and problem-solving training; and the “WE” Positive Dynamic Scheme and the “Gratitude, Forgiveness & Happiness Project” to help students build a positive self-image. Besides, the EDB has been organising the “Caring School Award Scheme” annually to recognise schools that are dedicated to implementing caring school measures, and encourage them to establish a caring school culture.  (6) In parallel, the EDB also concern about the mental health of teachers and parents. In this regard, the EDB has set up the Teachers’ Helpline to provide telephone counselling and follow-up services to help teachers cope with stress at work or emotional problems. There are also courses on stress management and promotion of physical and psychological well-being for teachers organised under the Teachers’ Helpline initiative. Over the past few years, the Quality Education Fund has subsidised various projects relating to teachers’ physical and psychological well-being, such as the Mindshift Educational Networking Programme launched by the University of Hong Kong to help teachers learn how to relieve stress. In the 2023/24 school year, the EDB organised a total of 48 workshops and courses for teachers, covering topics such as mental health, expressive arts, mindfulness and physical health. The EDB will continue to organise such workshops and courses for teachers.       The EDB has implemented various new initiatives in recent years to allocate additional manpower and resources to support teachers’ work continuously. Examples of the related measures include increasing the teacher-to-class ratio for public sector schools by 0.1 across-the-board starting from the 2017/18 school year to enhance their teaching manpower; providing additional regular teaching posts for schools; providing cash grants for schools to hire additional teaching and non-teaching staff; and implementing the “One Executive Officer for Each School” policy starting from the 2019/20 school year so as to reduce the administrative work of teachers, thereby creating more room for them.      For parents, the EDB has been implementing the territory-wide Positive Parent Campaign since 2020 to foster parents’ positive thinking and attitudes. The focus of the Positive Parent Campaign this year is to encourage parents and children to develop a healthy lifestyle together, and help parents take good care of the physical and psychological well-being of themselves and their children. In addition, the EDB has introduced the Curriculum Frameworks on Parent Education for kindergartens, primary schools and secondary schools respectively, providing reference for schools and other organisations in designing parent education programmes or activities, and one of the four core strands of the Curriculum Frameworks is “Promotion of Parents’ Physical and Psychological Well-being”. Starting from the 2022/23 school year, the EDB has been organising parent education courses and talks for parents of kindergarten and primary school students based on the Curriculum Frameworks. The themes include how to help children cope with stress, and exercising empathy to help children understand, express and regulate their emotions. Meanwhile, the EDB has all along been making use of the one-stop parent education website “Smart Parent Net” to provide information on positive parenting, emotional management of parents, etc. In the 2024/25 school year, the EDB will organise more thematic parent education programmes, and promote positive parent education and enhance parents’ awareness of children’s mental health through diversified modes such as district-based film gala presentations.

     
    Ends/Wednesday, October 30, 2024Issued at HKT 17:35

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Nokia selected to lead European lighthouse project on 6G sustainability

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Nokia selected to lead European lighthouse project on 6G sustainability

    • SUSTAIN-6G will evaluate and explore sustainable 6G technologies, methods and use cases touching on environmental, economic and societal needs
    • The consortium will work out solutions for three specific areas of sustainable development: energy smart grids, e-health and telemedicine, and agriculture

    30 October 2024
    Espoo, Finland – Nokia today announced that the Smart Networks and Services Joint Undertaking (SNS JU) has selected Nokia to be the coordinator of the SUSTAIN-6G lighthouse project. The SNS-JU is a public-private partnership funded by the European Commission. Nokia will lead a consortium of innovators that will identify how 6G can play a key role in building a sustainable future, addressing not only environmentally sustainable, but also economically and societally sustainable technologies.

    One of the main goals of SUSTAIN-6G is to develop new solutions for meeting sustainability challenges using the toolkit that 6G will offer. The consortium will devote considerable time to working out use cases for three targeted areas, drawn from the United Nations’ Sustainable Development Goals:

    • Energy smart grid: The consortium will explore how 6G could be used to create microgrids that manage electricity demand. SUSTAIN-6G will also investigate the use of AI technologies for real-time control of distribution networks. This could lead to more efficient and resilient grids that minimize disruptions while providing the flexibility to draw energy from diverse sources as the world transitions to renewables like solar and wind.
    • E-Health and telemedicine: The consortium will generate new ideas on how 6G can make digital health more inclusive. 6G infrastructure could not only provide a far-reaching infrastructure for securely transmitting and analyzing medical data, but it also could be the foundation for new home-based online assessment services. These networks could improve the diagnosis and treatment process in underserved communities. Meanwhile AI could help detect disease outbreaks at early stages.
    • Agriculture: The consortium will investigate how 6G connectivity could be allocated on a temporary basis to enable smart agricultural applications that require high bandwidth, sensing, telemetry, data analytics and automation. For instance, 6G’s edge cloud capabilities could be harnessed to handle high-priority farming-equipment automation tasks during harvests or provide advanced processing capabilities that integrate data from field sensors, climate stations, soil analysis and satellite imagery to provide contextualized information during the growing season.

    As a lighthouse project, SUSTAIN-6G will be one of the SNS JU’s most highly visible initiatives, and it is the third major European 6G research consortium that Nokia has been selected to lead. The others are Hexa-X and Hexa-X-II, which laid the groundwork for 6G pre-standardization and use cases respectively.

    SUSTAIN-6G has broad representation from industry and academia. The consortium includes network equipment and services vendors, communications services providers, industrial equipment manufacturers, European research institutions and universities, and many small-and medium-sized enterprises. SUSTAIN-6G will kick off in January of 2025 and is scheduled to complete its work in 2027.

    Peter Merz, Vice President of Nokia Standards, said: “The UN Paris Agreement committed the world to combatting climate change. Every industry must do its part. SUSTAIN-6G will show how the communications industry will apply the next generation of networking to creating that sustainable future, overcoming not just environmental challenges but societal and economic challenges as well.”

    Resources and additional information
    Webpage: Nokia Sustainability
    Webpage: What is 6G?

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
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    The MIL Network –

  • MIL-OSI United Kingdom: Species Survival Fund: New four-legged friends arrive at Shire Brook Valley Rainbow Meadow in Shire Brook Valley is now home to a host of new four-legged friends as we see the arrival of Highland cows and Dexter cows. The introduction of the cows forms part of Sheffield City Council’s Species Survival Fund which aims to protect, enhance and widen areas of heathland, and it will help to manage and create areas of meadow. 30 October 2024

    Source: City of Sheffield

    Rainbow Meadow in Shire Brook Valley is now home to a host of new four-legged friends as we see the arrival of Highland cows and Dexter cows.

    The cows have been brought to the meadow to graze which will help manage the field naturally , creating open spaces for wildflowers to grow and preventing brambles from taking over the meadow.

    As well as grazing, through moving and walking around the field this will create and maintain the open spaces.  Sheffield City Council has welcomed the cows to maintain the land in a great condition, in between woodland and open grassland. 

    Locals are welcome and encouraged to come down and view the cows from the gate but should not climb the gate as there is a risk of injury from livestock. Dogs are not permitted to be in the field.

    The introduction of the cows forms part of Sheffield City Council’s Species Survival Fund which aims to protect, enhance and widen areas of heathland, and it will help to manage and create areas of meadow, benefitting species of flora such as orchids and invertebrates such as dragonflies.

    The Council’s Species Survival Fund was awarded more than £1million from The National Lottery Heritage Fund, as well as being supported by funding from partners and other organisations, totalling almost £400,000.

    These include National Grid, The Environment Agency, South Yorkshire Sustainability Centre, Sheffield Hallam University, Yorkshire Water, Friends of Richmond Park and the South Yorkshire Badger Group.

    The mix of habitats are particularly important conserve in the area for invertebrate, fungi,  birds and wildflowers – the diversity of which will fall if the site is allowed to become dominated by trees.

    Areas the project will cover:

    • Shire Brook Valley Nature Reserve
    • Beighton Marsh
    • Woodhouse Washlands
    • Wickfield Heath & Plantation
    • Richmond Park
    • Silkstone Ravine (part of Birley Spa)

    The project will improve sites covering a total area of 449.5 acres. The project will involve conservation management, woodland works to open sightlines, creation of leaky dams and new areas of wet woodland, removing 1/3 of the silt and Typha from a former mill pond, creating ditches and hedgerows, and removal of invasive species.

    Species the fund will support include mice, bats, reptiles, amphibians (including toads and newts), birds such as swifts, house martins, skylarks, barn owls and kingfishers. 

    Patrick Gray, Grazing Co-ordinator at Wild Sheffield, said:

    “We now have 18 cows on Rainbow Meadow including 17 Dexter Cows and one Highland Cow.

    “The lack of grazing over the past few years has led to the meadow being overrun with brambles and scrub. The objective of the grazing is to maintain the site as a woodland pasture, which consists of a mix of veteran trees, young trees, and open grassland.

    “This is a pilot scheme, and in the future plan to have grazing at Sally Clark Meadow across the lane, and at Linley Bank.”

    The current plan of winter grazing is to remove the build-up of vegetation on the pasture so that ideal conditions are created for spring when all the interesting and colourful wildflowers begin to germinate.

    Wild Sheffield, in partnership with Sheffield City Council, would like to set up a volunteer scheme for members of the public to assist in keeping an eye on the cows, reporting any sick or injured or escaped animals.

    If you want to find out more about how you can get involved, please email Patrick Gray from Wild Sheffield for more details p.gray@wildsheffield.com.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Tech startups well placed to proliferate in Africa as digitalization enables growth in greenfield projects, says GlobalData

    Source: GlobalData

    Tech startups well placed to proliferate in Africa as digitalization enables growth in greenfield projects, says GlobalData

    Posted in Technology

    With digitalization as a key enabler of organic growth in greenfield projects in Africa, technology startups are well placed to capitalize on the desire of larger and established corporations wanting to move into various enterprise technologies in the region, according to research conducted by GlobalData, a leading data and analytics company.

    Recent tie ups – including Safaricom’s deal with Kenyan SaaS startup tappi, American security firm Unartificial Labs tapping Tunisian startup Enova Robotics, and British payment processing firm partnership and financial inclusion firm Paymentology partnering with Zambian fintech startup Union54 – point to this trend.

    Ismail Patel, Senior Analyst, Enterprise Technology and Services at GlobalData, says: “Africa remains a price-sensitive market not only for consumers but also for corporate buyers. This means that technology enablement beyond the deployment of costly physical infrastructure will be a space occupied by smaller vendors who are both less costly and seeking to build their own profiles in the region.”

    GlobalData analysis finds Africa is seeing burgeoning growth in the number of tech startups across cybersecurity, IoT, fintech, SaaS, APIs, analytics, blockchain, and AI. Mergers and acquisitions (M&A) activity associated with these startups has picked up over the past decade, and the number of contractual deals with startups, both inside Africa and beyond, is growing.

    The expectation is that this expansion will continue to grow as there is plenty of room for organic growth across key sectors, including rural communities and SMBs (small and medium businesses), where digitalization is a prime enabler for next-gen technology adoption and boosting national economies. Still, the key buyers for these startups will remain the large African corporate enterprises looking to either partner with them or bring them in-house via acquisition.

    Patel concludes: “Egypt, South Africa, Nigeria, Kenya, and Tunisia have emerged as the tech startup capitals across Africa. Tech enablement is being fueled by capital raising success stories across the board, from debt financing and governmental grants to angel and venture capital investments, all of which are encouraging the startup trends. In its own way, the region is responding to the global technological boom.”

    MIL OSI Economics –

  • MIL-OSI Europe: Frontex reintegration assistance: supporting returnees in their home countries

    Source: Frontex

    Frontex is responsible for implementing the EU Reintegration Programme (EURP), which helps individuals who return both voluntarily and non-voluntarily to their home countries re-establish their lives. The programme provides a range of support services, from accommodation to starting a business, helping returnees to integrate into their communities and build a sustainable future. The Agency works closely with local partners to ensure the successful implementation of these services, while also monitoring the delivery to ensure they meet the EU standards.

    In the past months, Frontex has conducted several monitoring missions in different regions as part of its commitment to ensuring the effectiveness of the reintegration programme. These missions help the Agency assess the support provided to returnees, gather feedback from beneficiaries, and identify areas for improvement. Recent monitoring missions were carried out in Morocco, Bangladesh, and Armenia, offering valuable insights into the programme’s impact on returnees’ lives.

    Monitoring missions to Morocco, Bangladesh, and Armenia

    One of these missions took place in Morocco, where the Agency brought a visit to its local reintegration partner, Fondation Orient-Occident (FOO), to discuss technical issues encountered with the EURP delivery. The reintegration assistance provided in Morocco includes professional training and business start-up support, which helps returnees become self-sufficient and contribute to their local economy.

    During the mission, Frontex officers and fundamental right monitor had an opportunity to discuss with FOO staff daily challenges related to their work as well as its results. FOO workers explained that the reintegration programme helped the returnees to establish small businesses, using financial support to purchase equipment and launch their ventures. Despite some challenges with accessibility in rural areas, FOO colleagues ensured that EURP beneficiaries were satisfied in general with the assistance received, and in particular with  securing income-generating activities.

    “Reintegration support allows returnees to come back to their countries with a sense of dignity. NGOs working in the area of reintegration need to navigate a complex landscape to successfully provide the assistance,” shared Ewa, a reintegration specialist.  

    “Fondation Orient Occident impressed us with their premises and facilities at the Headquarter in Rabat, which invite people to discuss, learn, create, work, and simply spend time together. They have rooms dedicated to different activities such as crafting, music, conference room, as well as some dedicated to children care and education. Migrants have opportunity to expose and sell their products in a small marketplace situated in the heart of the FOO Headquarter,” added Karolina, a reintegration expert.

    In Bangladesh, the mission revealed the impact of the reintegration programme on returnees’ livelihoods. The local partner, BRAC, works with returnees to provide comprehensive support, including medical care, psychological services, and financial aid. Many returnees have used this financial assistance to start small businesses, with some beneficiaries investing in livestock, such as cows, to provide ongoing income for their families. One of the highlights of the mission was visiting a farm where returnees proudly showcased the cows they had purchased with funds from the programme, enabling them to support themselves and their communities.

    Frontex observed that the EU Reintegration Programme is successfully meeting returnees’ essential needs while offering them a path to sustainable reintegration. Returnees expressed their satisfaction with the support received, praising the programme for providing them with the means to rebuild their lives and establish stable incomes. The mission also identified opportunities for improving the programme’s delivery to ensure it continues to meet the needs of returnees in the most efficient way possible.

    “It was fascinating to see how reintegration assistance is implemented on the ground. Visiting cattle markets, meeting returnees at their farms or businesses, and witnessing the positive impact of the programme was very insightful. I was impressed by BRAC’s dedication and professionalism, going beyond the EURP provisions to support returnees, sometimes using their own resources. Seeing their work across all districts was truly inspiring,” said Robert, a reintegration expert.

    “Our visit allowed us to see the real people behind the program documentation, both the counsellors and the beneficiaries. The honesty with which they shared their experiences, successes, and challenges, as well as their migration stories allowed us to understand their reality better,” added Natalia, EURP reintegration specialist.

    “Living conditions in countries like Bangladesh are difficult. Reintegration programmes are essential to making a real impact, helping people stay and rebuild their lives,” concluded Grigorios Tsioukas, Frontex Deputy Fundamental Rights Officer.

    The most recent mission took place in Armenia to monitor the delivery of assistance to returnees provided by Frontex local reintegration partner, Armenian Caritas. The mission allowed Frontex to assess how financial assistance and economic counselling help returnees re-establish themselves in their communities. During the mission, the team met several returnees who had used financial assistance to launch small businesses, such as a returnee who opened a fruit and vegetable shop and a taxi driver.

    Returnees expressed satisfaction with the assistance they received, highlighting the importance of business support in helping them become self-sufficient. The mission team, which included a Fundamental Rights Monitor, found that Armenian Caritas’ services align with the programme specifications and EU standards.

    Katarzyna, EURP reintegration specialist explains how important support for vulnerable groups is: “To fully understand the reintegration processes, its essential to recognise the unique characteristics of Armenia, where the migration landscape primarily involves families with children and elderly. Support for vulnerable groups is especially important and requires communication and coordination between the Member State, Frontex and Reintegration Partner to ensure timely and tailored assistance. Armenian Caritas is a very well-established organisation able to refer returnees to other services for specialised support, such as medical clinics or social services.”

    More about Frontex reintegration assistance

    The EU Reintegration Programme offers comprehensive support to individuals returning voluntarily to their home countries, including financial aid, healthcare, vocational training, and psychological support. Frontex’s monitoring missions help ensure that these services meet returnees’ needs and meet the EU standards. The Agency works with local reintegration partners to ensure returnees can successfully rebuild their lives and become active members of their communities.

    Click here for more information.

    MIL OSI Europe News –

  • MIL-OSI Canada: Construction update on new 45-unit residence in downtown Whitehorse

    Source: Government of Canada regional news

    This news release has been updated to correct a mathematical error. 

    The Government of Yukon is investing in a new 45-unit residence at 6095 6th Avenue in downtown Whitehorse in response to the community’s housing needs. The building’s 45 units will comprise studios and units ranging from one to three bedrooms, with 12 designated accessible units.

    This development will give people a place to call home once completed and help reduce the housing waitlist.

    • Read more about Construction update on new 45-unit residence in downtown Whitehorse
    • Add new comment

    MIL OSI Canada News –

  • MIL-OSI Video: Biodiversity: No country is immune to devastation inflicted by climate change – UN Chief at COP16

    Source: United Nations (Video News)

    Remarks by António Guterres, Secretary-General of the United Nations, at the opening of the High-Level Segment of the sixteenth meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 16) in Cali, Colombia.

    “President Petro,

    Thank you for hosting this important session, here in Cali – a microcosm of our planet’s rich biodiversity.

    Excellencies, dear friends,

    Nature is life.

    And yet we are waging a war against it.

    A war where there can be no winner.

    Every year, we see temperatures climbing higher.

    Every day, we lose more species.

    Every minute, we dump a garbage truck of plastic waste into our oceans, rivers and lakes.

    Make no mistake.

    This is what an existential crisis looks like.

    No country, rich or poor, is immune to the devastation inflicted by climate change, biodiversity loss, land degradation and pollution.

    These environmental crises are intertwined. They know no borders.

    And they are devastating ecosystems and livelihoods, threatening human health and undermining sustainable development.

    The drivers of this destruction are embedded in outdated economic models, fueling unsustainable production and consumption patterns.

    They are multiplied by inequalities – in wealth and power.

    And with each passing day, we are edging closer to tipping points that could fuel further hunger, displacement, and armed conflicts.

    We have already altered 75% of the Earth’s land surface and 66% of its ocean environments.

    Dear friends,

    Biodiversity is humanity’s ally.

    We must move from plundering it to preserving it.

    As I have said time and again, making peace with nature is the defining task of the 21st century.

    That is the spirit of today’s Declaration of the World Coalition for Peace with Nature:

    A call for action to enhance national and international efforts towards a balanced and harmonious relationship with nature – protecting nature and conserving, restoring and sustainably using and sharing our global biodiversity.

    A call to recognize the vital knowledge, innovations and practices of Indigenous people, people of African descent, farmers and local communities.

    A call for life.

    Excellencies,

    Last month, UN Member States adopted the Pact for the Future.

    The Pact recognizes the need to accelerate efforts to restore, protect, conserve and sustainably use the environment.

    It emphasizes the importance of halting and reversing deforestation and forest degradation by 2030, and other terrestrial and marine ecosystems that act as sinks and reservoirs of greenhouse gases.

    This means conserving biodiversity, while ensuring social and environmental safeguards – in line with the Paris Climate Agreement and the Kunming-Montreal Global Biodiversity Framework.

    When the Framework was adopted two years ago in Montreal, the world made bold commitments to living in harmony with nature by mid-century.

    Its goals and targets require robust monitoring, reporting, and review arrangements to track progress, as well as a resource mobilisation package to increase finance for biodiversity from all sources – mobilizing at least USD 200 billion per year by 2030.

    But we must now turn these promises into action in four vital ways.

    First – at the national level, all countries must finally present clear, ambitious and detailed plans to align with the Framework’s targets.

    These national plans should be developed in coordination with Nationally Determined Contributions and National Adaptation Plans – with positive outcomes in the Sustainable Development Goals.

    We must shift to nature-positive business models and production: renewable energies and sustainable supply chains… zero-waste policies and circular economies… regenerative agriculture and sustainable farming practices…

    These must become the default for governments and businesses alike.

    Second – we must agree on a strengthened monitoring and transparency framework.

    This is not only vital for accountability but also about enabling course corrections and driving ambition.

    Third – finance promises must be kept and support to developing countries accelerated.

    We cannot afford to leave Cali without new pledges to adequately capitalize the Global Biodiversity Framework Fund, and without commitments to mobilize other sources of public and private finance to deliver the Framework – in full.

    And we must bring the private sector on board.

    Those profiting from nature cannot treat it like a free, infinite resource.

    They must step up and contribute to its protection and restoration.

    By operationalizing the mechanism on the sharing of benefits from the use of Digital Sequence Information on Genetic Resources, we will give them one clear avenue to do so, bringing more equity and inclusivity…”

    Full remarks: https://www.un.org/sg/en/content/sg/statement/2024-10-29/secretary-generals-remarks-the-high-level-segment-of-cop16-biodiversity-trilingual-delivered-scroll-down-for-all-english

    https://www.youtube.com/watch?v=wiM2kUkGPOU

    MIL OSI Video –

  • MIL-OSI Video: House Calls | Ada Limón: How Can Poetry Help Us Make Sense Of The World?

    Source: United States of America – Federal Government Departments (video statements)

    For Ada Limón, the 24th U.S. Poet Laureate, poetry is her way of connecting — to others, to ourselves, to our natural world. Ada’s work is deeply personal, inspired by gratitude for loved ones, awe and nature, and her struggles with scoliosis and infertility. In this conversation with the Surgeon General, she reflects on her process for writing, which she says often starts with the simple act of seeing what’s around her. When Ada shares her poems, she finds joy in other people seeing their own feelings and life experiences in her writing. In the course of this conversation she beautifully recites two of her poems. “The Raincoat” was written for her mother. The other, “In Praise of Mystery,” is shooting through outer space right now on a NASA aircraft bound for Jupiter’s moon Europa.

    (07:36) Can poetry help keep us grounded?
    (10:33) How does poetry help when language fails us?
    (12:35) Ada shares her poem “The Raincoat”
    (17:50) What are some unexpected ways poetry opens people up?
    (22:40) What if we don’t “get” poetry?
    (26:42) What is it like to live the life of a poet?
    (31:38) How Ada gets herself in the mindset to write
    (38:08) On staying present
    (44:02) How life challenges shaped her creativity
    (52:14) How does Ada define success at this point in her life?
    (59:36) A reading of her poem “In Praise of Mystery.”
    (01:03:08) What gives Ada Limón hope?

    We’d love to hear from you! Send us a note at housecalls@hhs.gov with your feedback & ideas. For more episodes, visit www.surgeongeneral.gov/housecalls.

    —

    U.S. Department of Health and Human Services (HHS) | http://www.hhs.gov

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    HHS Privacy Policy: http://www.hhs.gov/Privacy.html

    https://www.youtube.com/watch?v=XAfZ5R8g7fU

    MIL OSI Video –

  • MIL-OSI Russia: Forum “Youth Initiative”: a journey into the world of good deeds

    Translation. Region: Russian Federation –

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

    The fifth anniversary forum of leaders “Youth Initiative” was held in the estate of the first director of the Polytechnic Institute Prince Andrei Gagarin. Its mission is to strengthen the community of socially active students who create significant projects and develop volunteerism and charity. Volunteer students of the Dobro.Center SPbPU and the campaign gathered at the site of the historical estate

    “Youth Initiative” has always been a special event for active Polytechnic students. The number of student leaders (organizers, heads of volunteer and public activities at the university, authors of grant projects and winners of all-Russian and international competitions), successful Polytechnic graduates who began their journey with this forum, is already in the tens. It is not without reason that “accordionists” consider Kholomki a place of power. Three intense days in a wonderful atmosphere of history, inspiration and creative opportunities are incredibly motivating for both experienced guys (mentors) and first-year students. Moreover, both undergraduate and graduate students, including even foreign students, – said Tatyana Nam, Director of the Dobro.Center “Harmony”.

    The architecture of the forum program consists of educational, practical and cultural-creative parts. The first director of the Polytechnic Institute, Prince Andrei Gagarin, said that the institute was created not only to teach, but also to form a comprehensively developed personality.

    The first day began with an interactive program on the bus. On the way to Kholomki, the students not only met, learned interesting facts and useful information, but also made travel collages as a keepsake. Upon arrival at the estate, the participants went on an excursion with immersion in the history of the Polytechnic University, and also solemnly laid flowers at the memorial to Prince Andrei Gagarin.

    At the Youth Initiative forum, participants learned about the possibilities

    We worked on the script for the literary salon with great interest, enthusiasm and dedication in order to convey not only creativity but also the atmosphere of the era. The performance turned out to be fascinating, many viewers later shared that the performance impressed them to the point of goosebumps, which means we succeeded! I am very glad that the actors and viewers enjoyed it and I hope that together with the talented guys from the PolyNova author’s club of the Polytechnic’s Dobro.Harmony Center, we will be able to make a full-length performance based on this artistic sketch, – shared a 2nd year student, head of the cultural and creative direction

    The Polytechnicians’ vigorous morning on the second day of the forum began with health-improving wushu in the fresh air. They plunged into a volunteer quest consisting of five stations with particular zeal. Creating T-shirts with an individual design of the campaign

    Getting to know volunteerism is impossible without overcoming stereotypes and debunking myths. The Dobro.Center “Harmony” team introduced the participants to the SPbPU volunteer ecosystem and proved that if everyone helps to the best of their ability, the possibilities for good will become limitless. Then the participants learned about serendipity (the ability to draw deep conclusions from random observations) and learned why luck is not just a coincidence, but attentiveness and the ability to use opportunities. They mastered time management skills and even became real detectives by attending a master class on fingerprinting. There, everyone learned how to take prints and create a fingerprint card.

    After a short break, the participants were treated to a mini-course on first aid and psychological training, which helped them better understand and express their experiences through creativity and imaginative thinking. As part of the campaign

    The Youth Initiative Forum is warmth, happiness and the most eventful weekend of autumn. Together with the Harmony team, we were able to organize useful trainings, intensive courses and interesting master classes. In three days, we managed to show the real life of a volunteer. We managed to charge the guys with kindness and set them up for positivity. I am very pleased to be part of such a large-scale event, it is a great experience and inspiration, – shared a second-year student, an activist of the headquarters

    At the end of the evening, the participants got acquainted with the brightest and largest events of the SPbPU Dobro.Center, and also took part in the evening reflection, where everyone could speak about their emotions and impressions, thank each other for communication and the joint experience of participating in the volunteer forum.

    Thanks to the team of organizers for your work, thanks to all the participants! Without their openness, sincerity, readiness to trust new people, the trip would not have been so heartfelt! Thanks to Tatyana Anatolyevna Nam for her care for everyone, for showing us how cool it is to do what you love. Thanks to all the lecturers who spoke about their experience with love and professionalism. It was a trip after which I returned home filled with only bright feelings, motivated, with very pleasant impressions and memories! Well, and the most important thing is the people! We are all so different, but I am sure that after the off-site forum we became a little closer, – shared her impressions the head of the school of GI elders Ksenia Kopylova.

    The next day, the polytechnicians gathered for the ceremonial closing of the forum. All participants, volunteers and organizers were awarded certificates and letters of gratitude. And so, the road back to St. Petersburg, all charged and happy, but with a little sadness in their eyes because of the imminent farewell.

    Mikhail Lomonosov once said: “A nation that does not know its past has no future.” In my opinion, this phrase perfectly describes the purpose of our trip to the estate of the first director of the Polytechnic University, Andrei Gagarin. The forum was filled with educational lectures, the speakers spoke in a very interesting and accessible way about how to subjugate creativity, how to prevent emotional burnout, and much more. I would like to separately highlight the high-quality work of the entire Dobro.Center team. It is evident how they try to make every minute spent at the forum happier. After the “Youth Initiative”, absolutely every participant wanted to join the ranks of the best volunteer headquarters to help all those in need. In general, it was a great cultural and educational forum, where the participants rested their souls and developed their personal skills! – Kirill Grishin, a first-year student of the Institute of Economics and Technology, shared his impressions.

    The Youth Initiative Forum is held by the Dobro.Harmony Center of SPbPU with the support of the Polytechnic University Endowment Fund, Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov, Director of the Humanitarian Institute Natalia Chicherina, and the educational and historical reserve “Prince A.G. Gagarin’s Estate “Kholomki”.

    Photographer: Sofya Ryabinina

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in Colombia

    Source: Government of India

    Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in Colombia

    India Advocates for Global Conservation with ‘Plant4Mother’ Campaign at COP16 in Colombia

    Posted On: 30 OCT 2024 4:30PM by PIB Delhi

    Union Minister of State for Environment, Forests and Climate Change, Shri Kirti Vardhan Singh delivered the national statement regarding the conservation of biological resources in the High Level Segment of the ongoing 16th meeting of the Conference of Parties (CoP) to the Convention on Biological Diversity, in Cali, Colombia on 29th October 2024.

    MoS Shri Singh congratulated Ms. Susana Muhamad, Minister of Environment of Colombia on taking over the COP Presidency from the longest serving COP President Mr. Huang Runqiu of China.

    Speaking on the occasion, Shri Singh said that India has a rich culture and tradition of worshipping Mother Earth and of living in harmony with Nature. India is one of the world’s 17 Mega-diverse rich Nations housing four out of the 36 globally recognised biodiversity Hotspots. He said, “To honour Mother Earth as we honour our own Mothers, our Prime Minister this year launched a nation-wide tree plantation campaign ‘Ek Ped Maa Ke Naam’ or ‘Plant4Mother’ on the occasion of World Environment Day in our collective efforts to restore and protect our biodiversity.”

    The Minister highlighted that ‘Peace with Nature’ has been part of India’s rich cultural heritage since ancient the Vedic age. The theme resonates with India’s mission of ‘Lifestyle for the Environment (LiFE)” an India led Global mass movement for adopting environment friendly lifestyles.

    India has taken significant step in global wildlife conservation by establishing the International Big Cat Alliance (IBCA) aimed at protecting the world’s seven major big cat species, as their presence is indicative of a healthy ecosystems and rich biodiversity, Shri Singh informed.

    The Minister said that India’s efforts in rejuvenating our sacred river Ganga through ‘Namami Gange’ Mission was duly recognized by United Nations as one of the top 10 World Restoration Flagships to revive the riverine ecosystem. He informed that India’s Ramsar sites has risen from 26 to 85 since 2014 and this number is shortly going to reach 100.

    Shri Singh reiterated that India adopted a ‘Whole of Government’ and ‘Whole of Society’ approach while updating the National Biodiversity Strategy and Action Plan (NBSAP) with its targets aligned with the Kunming-Montreal Global Biodiversity Framework (KMGBF). He said that the Ministry would be releasing updated NBSAP on 30.10.2024 at Cali.

    The Minister said that it is necessary to provide means of implementation including financial resources, as laid down in target 19 of the KMGBF as well as from DSI, for implementation of the NBSAP. Lot of ground needs to be covered in providing easily accessible means of implementation i.e. financial resources, technology and capacity building needs with the requisite Speed, Scope and Scale.  

    Shri Singh concluded by re-iterating India’s commitment towards protecting its own as well as global biodiversity for the present and future generations, in the true spirit of ‘Vasudhaiv Kutubakam – One Earth, One Family, One Future’.

    *****

    VM/GS

    (Release ID: 2069563) Visitor Counter : 33

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Department of Labor finds construction contractors failed to protect rigger from fatal 30-story fall at Fort Lauderdale high-rise

    Source: US Department of Labor

    FORT LAUDERDALE, FL – A U.S. Department of Labor investigation found two contractors could have prevented a crane collapse at a Fort Lauderdale residential construction site in April 2024, which caused a 27-year-old rigger to suffer fatal injuries after falling approximately 30 stories.

    Investigators with the department’s Occupational Safety and Health Administration learned that two workers employed by Phoenix Rigging & Erecting LLC were installing a section on a tower crane to increase its height when a support cable failed and the platform on which they stood became displaced. One worker, who was wearing the required fall protection and tied off, was rescued. Another worker, whose lanyard was not connected to an anchor point was fatally injured.

    OSHA cited Phoenix Rigging & Erecting in Mableton, Georgia, for three serious violations for failing to do the following: 

    The agency also cited a Canonsburg, Pennsylvania, crane rental company, Maxim Crane Works LP, for two serious violations for failing to do the following:

    • Observing deficiencies to significantly corroded and cracked pins and bolts, and improperly applying end connections.
    • Allowing employees to start work without conducting pre-inspections of crane components, including but not limited to U-bolt clamps, bolts, pins, thimbles and wire ropes, to ensure those were inspected adequately by a qualified person for damage or excessive wear.

    “Neglecting workplace safety requirements can be a matter of life or death,” said OSHA Area Director Condell Eastmond in Fort Lauderdale, Florida. “If these companies had made safety a priority, a young man’s family, friends, and co-workers wouldn’t be facing this preventable loss. Construction employers are responsible for ensuring that workers use fall protection in hazardous situations, and we will hold all employers accountable for failing to provide safe working conditions.”

    OSHA cited the construction contractors for five serious violations and proposed $61,299 in penalties, the maximum amount that OSHA can legally recommend. 

    The Bureau of Labor Statistics reports that 1,056 construction workers were fatally injured on the job in 2022, with 423 of those fatalities related to falls from elevation, slips or trips.  

    Phoenix Rigging & Erecting LLC conducts crane assembly and dismantling. Maxim Crane Works LP rents heavy-lift equipment, including hydraulic truck cranes, rough terrain cranes, crawler cranes, tower cranes, conventional truck cranes and boom trucks at more than 50 locations nationwide.

    The contractors have 15 business days from receipt of their citations and penalties to comply, request an informal conference with OSHA’s area director, or contest the findings before the independent Occupational Safety and Health Review Commission.

    Visit OSHA’s website for information on developing a workplace safety and health program. Employers can also contact the agency for information about OSHA’s compliance assistance resources and for free help on complying with OSHA standards. 

    Under the Occupational Safety and Health Act of 1970, employers are responsible for providing safe and healthful workplaces for their employees. OSHA’s role is to ensure these conditions for America’s working men and women by setting and enforcing standards, and providing training, education and assistance. For more information, visit OSHA’s website to learn more. 

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Special Campaign 4.0 – 2nd October, 2024 to 31st October, 2024

    Source: Government of India (2)

    Posted On: 30 OCT 2024 1:53PM by PIB Delhi

    The objective of this campaign is to minimize pendency, institutionalize swachhata, and strengthen internal monitoring mechanisms, digitization of physical records and monitoring mechanisms for swachhata. Sanitization and cleanliness is going on priority basis under Swachhata Campaign 4.0.

    On 2nd October, 2024 on the occasion of Mahatma Gandhi Jayanti and Swachh Bharat Diwas a Shramdaan event has been organized in the premises of Shastri Bhawan led by Shri Udaya Kuamara, Additional Secretary, Shri R.K. Pattanayak, Joint Secretary/Nodal Officer, Dr. K.V. Kumar, Joint Secretary and other senior officers and staff including Safai Karmacharis of this Department and attached offices. In addition to that Shri Udaya Kumara, Additiaonal Secretary and Shri R.K. Pattanayak, Joint Secretary/Nodal Officer have also visited all the Sections and corridors/toilets etc. and reviewed the ongoing campaign.

    On 3rd October, 2024 Dr. Rajiv Mani, Secretary Legislative Department along with Shri R.K. Pattanayak, JS&LC/Nodal Officer, Smt. Rakhi Biswas, Under Secretary, Shri Prashant Bhardwaj, Section Officer, Shri Sushil Kumar, Dealing Head visited Record Room, Digitization Unit and Sectons to review progress of the Campaign. 57,988 files/office records were digitized and 32 files were reviewed and weeded /shredded. 

    On 12th October, 2024 Admn. II Section has been renovated and open up space and Cleanliness drive has been undertaken by the Department in corridors and sections. During the Campaign, One of the best practices viz beautification of walls (wall art) in the corridors/premises housed by Legislative Department was carried out.

    The internal mechanized cleanliness in workplace on 15th October, 2024, were made such as cleaning activities, dusting, sanitizing surfaces, and proper waste disposal to ensure a hygienic workspace, to identification of unwanted records and article in sections for weeding out, preparing a list of obsolete items for auction under the supervision of Shri R.K. Pattanayak, Nodal Officers/JS&LC in the Legislative Department were also made.

    During the Campaign, on 20th October, 2024 the Legislative Department organized a shramdaan event at a black spot i.e. Ghazipur, round about, East Delhi which was identified by the Department for cleanliness drive and to spread the message of cleanliness and hygiene.  The event of sharmdaan was led by Dr. Rajiv Mani, Secretary Legislative Department along with other senior officers of the Legislative Department namely Shri Udaya Kumara, Additional Secretary, Shri R.K. Pattanayak, JS&LC/Nodal Officer, Dr. K.V. Kumar, JS&LC and Shri Dhruv Kumar Singh, CCA along with several officers and staff of the Department including attached offices and the Department of Legal Affairs. On the occasion, Secretary (LD) distributed Swachhata Kit/ T-Shirt/ Cap to the Safai Karamchari and emphasized upon the importance of the Campaign, the overall benefit of the society and the nation.

    On 22nd October 2024, Legislative Department has successfully completed e-Auction for old and obsolete items in presence of Auction Committee and earned revenue of Rs. 5,01,000/- and cleanliness drive undertaken by the Department under the supervision of Shri R.K Pattanayak, JS&LC/Nodal Officer.

    On 26th October, 2024 experts hired by the department for weeded/shredded out of unwanted files/records of the Legislative Department in the supervision of Shri R.K. Pattanayak, JS&LC/Nodal Officer.

    On 28th October 2024, circular has been issued to all sections of the Legislative Department including attached offices i.e. Official Language Wing and Vidhi Sahitya Prakashan for providing information reducing pendency of the Department and thereafter all sections have been instructed to dispose of pending matters of Special Campaign 4.0.

    ****

    SB/DP/ARJ

    (Release ID: 2069494) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on YBIT (65.28%), TSLY (60.58%), TSMY (54.47%), YMAX (66.23%), YMAG (41.16%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ ETFs listed in the table below.

    ETF Ticker1 ETF Name Reference Asset Distribution
    per Share    		 Distribution Frequency Distribution Rate2,4,5 30-Day
    SEC Yield    3    		 Ex-Date & Record
    Date    		 Payment Date
    YMAX YieldMax™ Universe Fund of Option Income ETFs Multiple $0.2247 Weekly 66.23% 50.85% 10/31/24 11/1/2024
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Multiple $0.1528 Weekly 41.16% 62.93% 10/31/24 11/1/2024
    TSLY YieldMax™ TSLA Option Income Strategy ETF TSLA $0.5986 Every 4
    Weeks    		 60.58% 3.09% 10/31/24 11/1/2024
    CRSH   YieldMax™ Short TSLA Option Income Strategy ETF TSLA $0.4489 Every 4
    Weeks    		 51.38% 3.61% 10/31/24 11/1/2024
    GOOY YieldMax™ GOOGL Option Income Strategy ETF GOOGL $0.3771 Every 4
    Weeks    		 31.69% 3.28% 10/31/24 11/1/2024
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Bitcoin ETP $0.6717 Every 4
    Weeks    		 65.28% 4.07% 10/31/24 11/1/2024
    OARK YieldMax™ Innovation Option Income Strategy ETF ARKK $0.2818 Every 4
    Weeks    		 35.18% 3.37% 10/31/24 11/1/2024
    XOMO YieldMax™ XOM Option Income Strategy ETF XOM $0.3373 Every 4
    Weeks    		 26.26% 3.32% 10/31/24 11/1/2024
    SNOY YieldMax™ SNOW Option Income Strategy ETF SNOW $0.5589 Every 4
    Weeks    		 43.15% 3.44% 10/31/24 11/1/2024
    TSMY YieldMax™ TSM Option Income Strategy ETF TSM $0.8897 Every 4
    Weeks    		 54.47% 3.48% 10/31/24 11/1/2024
    Scheduled for next week: YMAX YMAG NVDY DIPS FBY GDXY BABO JPMO MRNY PLTY


    The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling     (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    1  All YieldMax™ ETFs shown in the table above (except YMAX and YMAG) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs.

    2  The Distribution Rate shown is as of close on October 29, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3  The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30, 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

    4  Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

    5  YieldMax™ ETF distributions may contain return of capital, but an estimate cannot be provided at this time. Please refer to the 19a-1 notices here for additional details regarding the distributions’ composition, once available.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here.

    Prospectuses

    Click here.

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus. Please read the prospectuses carefully before you invest.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs and ZEGA Financial is their sub-adviser.

    THE FUND, TRUST, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX and YMAG generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs or ZEGA Financial.

    © 2024 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: Banco Santander-Chile Announces Third Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, Oct. 30, 2024 (GLOBE NEWSWIRE) — Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its results1 for the nine-month period ended September 30, 2024, and third quarter 2024 (3Q24).

    ROAE2of 23.1% in 3Q243and 18.2% in 9M244.

    In the third quarter of 2024 (3Q24), the Bank’s net income attributable to shareholders totaled $243,133 million ($1.29 per share and US$ 0.58 per ADR), reflecting an increase of 11.7% compared to the previous quarter (2Q24), with an ROAE of 23.1%.

    As of September 30, 2024, the Bank’s net income attributable to shareholders totaled $581.109 billion ($3.08 per share and US$1.37 per ADR), reflecting an increase of 81.9% compared to the same period of the previous year and with an ROAE of 18.2%.

    The increase in results in the quarter is explained by an increase in the Bank’s main income lines, with operating income increasing by 6.3% in the quarter, driven by a better interest margin and readjustments.

    Strong recovery of NIM5to 3.9% in 3Q24 and 3.4% in 9M24.

    Net interest and readjustment income (NII) accumulated as of September 30, 2024 increased by 74.8% compared to the same period in 2023. This increase in NII was due to higher interest income due to improvements in the cost of funds resulting from a lower monetary policy rate, partially offset by lower readjustment income due to lower inflation in the period.

    In 3Q24, total net interest and readjustment income increased by 4.2% compared to 2Q24. This is explained by higher net interest income due to lower funding costs and better investment portfolio performance, offset by lower net readjustment income due to lower UF variation in the quarter.

    Net fees increase 8.3% in the quarter, reaching recurrence6levels of 63.4%.

    Net fees increased 8.3% QoQ due to increased customer numbers and greater use of products such as mutual funds, cards and current accounts. With this, the recurrence ratio (total net fees divided by total core expenses) is 63.4% in 3Q24, demonstrating that more than half of the Bank’s expenses are financed by fees generated by our customers.

    In the nine months to September 30, 2024, fees increased by 5.4% compared to the same period in 2023, mainly due to higher fees from current accounts, mutual fund brokerage and Getnet. This was partially offset by the impact of interchange fee regulation.

    Getnet’s customer base continues to grow and its expansion continues

    As a result of our strategy to strengthen digital products, the Bank’s market share in current accounts remains strong. According to the latest publicly available information, which is as of July 2024, our market share reaches 23.8% in current accounts, which includes products such as Santander Life and PYME Life, while our US$ current account solution is already attracting 41.2% of customers in this market. In total, our digital customers total around 2.2 million and represent 86% of our active customers, with the products with the greatest traction being deposits, credit cards, investment funds and general insurance brokerage.

    Getnet’s entry into the Chilean acquiring market continues to surprise with good results, with net commissions of $54 billion in 9M24 (not including operating expenses). Customer reception has been high, with more than 182 thousand affiliated merchants and more than 243 thousand operational POSs, with a strong demand from SME clients and an expansion towards larger clients that require a Host to Host solution, offering an integrated payment system for more sophisticated clients. Thanks to Getnet and other initiatives such as the Cuenta Pyme Life, we are seeing significant growth in current accounts for SMEs and companies, growing 26.7% YoY by July 2024, and with a market share of 39.3% according to the CMF.

    For the fifth consecutive year we are Top 1 in NPS among our Chilean peers

    As a result of all our efforts, our customers are the most satisfied with us. As of September 2024, our NPS is 59 points, top 1 among our peers. We also rank first in net satisfaction in the evaluation of our account executives and contact center with 66 and 72 points respectively. Regarding digital channels, they also continue to be a strength, with the website standing out with a net satisfaction of 72 and the App with 74 points.

    Efficiency ratio of 36.3% in the quarter as income improves and costs remain under control

    The Bank’s efficiency ratio reached 40.0% as of September 30, 2024, better than the 48.0% of the same period last year, with a quarterly efficiency ratio of 36.3%, explained by the recovery of revenues in the quarter and solid cost control.

    Core support expenses (salaries, administration and amortization) grew 4.4% in 9M24 compared to 9M23 and 0.4% compared to 2Q24, in line with the growth of inflation, as we mentioned in our previous guidance. Total operating expenses (which includes other expenses) increased 13.1% in 9M24 compared to the same period in 2023 driven by higher other operating expenses, related to a provision for the restructuring of our branch network and the transformation to Work/Café and also the progress in Digital Banking.

    Cost of credit of 1.28% in 9M24, in line with the evolution of asset quality given the economic scenario.

    During the Covid-19 pandemic, asset quality benefited from state aid and pension fund withdrawals, which led to a positive performance in assets during that period, before normalizing in line with the performance of the economy and the drainage of excess liquidity from households. Currently, our clients’ performance is reflecting the state of the economy and the labor market, where delinquency is higher than the levels we saw before the pandemic with the non-performing loans (NPL) ratio increasing to 3.1% and the impaired portfolio to 6.7% at September 2024. Overall the cost of credit remained stable at 1.28% in the quarter.

    Solid capital levels with a BIS7ratio of 17.2% and a CET18of 10.7%.

    Our total BIS ratio reached 17.2% as of September 30, 2024 and the CET1 ratio remains solid at 10.7%, even considering that we increased the dividend provision for the 2024 income from 30% to 60% in June 2024 and then to 70% in September 2024. Risk-weighted assets (RWA) increased 0.8% since December 31, 2023 and 0.3% QoQ, explained by a growth in market risk-weighted assets offset by a decrease in credit risk-weighted assets. Additionally, in January 2024, the CMF announced the Pillar II charges for six banks in the Chilean system, and we highlight that, on this occasion, they did not assign a charge to the Bank.

    Upgrading guidance for 2024 and soft guidance for 2025

    Given the strong recovery in our results and our current economic estimates for the fourth quarter, we are improving our ROAE guidance for 2024 to 18%-19%. We have upgraded our medium term guidance for ROAEs to 18%-20% and our soft guidance for 2025 indicates a ROAE within this range.

    Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A2 rating from Moody’s, A- from Standard and Poor’s, A+ from Japan Credit Rating Agency, AA- from HR Ratings and A from KBRA. All our ratings as of the date of this report have a Stable Outlook.

    As of September 30, 2024, the Bank has total assets of $65,890,254 million (US$73,419 million), total gross loans (including loans to banks) at amortized cost of $40,362,740 million (US$44,975 million), total deposits of $29,617,085 million (US$33,001 million) and shareholders’ equity of $4,218,883 million (US$4,701 million). The BIS capital ratio was 17.2%, with a core capital ratio of 10.7%. As of September 30, 2024, Santander Chile employed 8,861 people and has 234 branches throughout Chile.

    CONTACT INFORMATION
    Cristian Vicuña
    Chief Strategy Officer and Head of Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    Email: irelations@santander.cl Website: www.santander.cl

    1 The information contained in this report is presented in accordance with Chilean Bank GAAP as defined by the Financial Markets Commission (FMC).
    2 Annualized net income attributable to shareholders of the Bank divided by the average equity attributable to equity holders
    3 The third quarter of 2024
    4 The nine months accumulated as of September 30, 2024
    5 NIM: Net interest margin. Annualized net interest income and annualized readjustments divided by interest-earning assets
    6Recurrence: Net commissions divided by structural operating expenses (excludes other operating expenses).
    7 Regulatory capital divided by risk-weighted assets, according to CMF BIS III definitions
    8 Core capital divided by risk-weighted assets, according to CMF BIS III definitions.

    The MIL Network –

  • MIL-OSI Africa: South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work

    Source: The Conversation – Africa – By Ramos Emmanuel Mabugu, Professor, Sol Plaatje University

    South Africa has been struggling for decades to reduce poverty, inequality and unemployment and raise the rate of economic growth.

    Economic growth has been slow since a recession in 2008. The annual growth rate averaged 1.1% between 2009 and 2021, slowing to 0.6% in 2023.

    Unemployment remains stubbornly above 30%. It was 32.9% in the first quarter of 2024.

    The country’s Gini coefficient, a measure of how income is distributed across the population, is estimated to be 0.63, one of the worst in the world. Poverty levels remain high too. A large number of people live in extreme poverty. According to Statistics South Africa, an estimated 40.0% of the population (or 25 million people) have a monthly consumption expenditure of below R9,096 (which is used as the lower-bound poverty line). And 55.5% of the population falls within the upper-bound poverty line, with monthly consumption expenditure of below R13,656.

    This is despite government’s extensive spending on social assistance and other support mechanisms. In the 2023/24 fiscal year, there were 18.8 million social grant beneficiaries (about 35% of the population) with an annual cost to the fiscus of R217.1 billion (US$12.2 billion). This is expected to increase to R259.3 billion (US$14.6 billion) in 2026/27.

    Social support also includes spending on health, education, social protection, community development and employment programmes which protect the most vulnerable groups. In addition, the government has extended the Social Relief of Distress Grant which was introduced during the COVID pandemic.

    Based on my research as an economist for the last 20 years, I believe the government won’t make much progress in reducing unemployment, inequality and poverty unless it adopts a different strategy – one that targets extreme poverty reduction explicitly.

    In a recent paper, colleagues and I identify key conditions for reducing extreme poverty through social transfers. We designed an economic simulation model to track the effect of increasing social grants to very poor South Africans to move them out of extreme poverty. This would be done by transferring an average of R4,020 (US$225) to every extremely poor South African. Based on our assumptions, about 25 million individuals would be eligible for this social transfer.

    Moving about 25 million South Africans out of extreme poverty would cost on average US$6.5 billion per year. We argue that this cost is worth carrying. Our model also showed that, under certain conditions, poverty-alleviation social transfers can be good for the broader economy.

    Additional benefits

    We know that social grants are important instruments to fight poverty and inequality in South Africa. They can produce sizeable multiplier effects in the economy.

    But we wanted to know more about how society benefits when a large share of the public budget is transferred to poor households.

    What makes the model we built to explore this different is that we simulated the economic implications of a hypothetical South Africa with lower poverty and inequality outcomes. More precisely, we set the poverty headcount rate at the lower-bound poverty line at 5.0% under both unconstrained and constrained scenarios. This is the conventionally accepted definition of extreme poverty eradication.

    The tool combined a macroeconomic model to project the economic impacts and a micro-simulation model to work out the poverty and inequality effects.

    We tested a combination of policy options, including social grants, and their multiplier effects and funding implications. We considered two financing scenarios: one that involved a budget deficit and one which was budget-neutral.

    Under a budget-neutral scenario, funding for interventions would be taken from budgets allocated for other purposes and put towards poverty alleviation instead.

    Key findings

    The model showed that the South African economy, measured by the level of gross domestic product (GDP), would grow faster (by 0.5 percentage points) when the transfer was designed to support poor people’s progressive engagement in economic participation rather than simply providing them with a basic cash grant. This can be done, for instance, by expanding and upgrading the current social assistance schemes such as the public work programmes. These have been shown to have positive outcomes for economic participation.

    When people who receive income transfers are able to work, they contribute to a higher supply of goods and services as well as to higher demand.

    The inflationary effects, in particular food price increases, are limited under this scenario.

    On the other hand, GDP deteriorates by 1 percentage point when there is no requirement or condition for participation (when grant recipients still don’t have a job). Under this scenario food demand increases and related price increases contribute to reducing consumers’ purchasing power.

    What needs to be done

    Our model shows how poverty-alleviation social transfers can have positive economic outcomes under two conditions.

    First, the expansion of the grant lifting approximately 25 million South Africans above the lower-bound poverty line of R9,606 has to be done under a budget-neutral funding arrangement.

    Second, the transfer has to be made with a requirement that there is an increase in the economic participation of extremely poor beneficiaries. In other words, the grant only has a positive effect if the very poor beneficiaries can find work or are required to participate in a certain kind of public work activity.

    The fiscal cost of the poverty alleviating grant transfer would be around 1.6% of GDP or 4.9% of public expenditure. This would mean increasing social spending by 4.9%. Alternatively, spending on other areas would have to be cut by the same proportion.

    In either scenario, the findings show that this constraint might even be relaxed if the fiscal transfer enabled poor people to get work or if the cash transfer was conditional on recipients doing certain work.

    In our view the benefits of this are massive in terms of extreme poverty eradication.

    – South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work
    – https://theconversation.com/south-africas-fight-against-extreme-poverty-needs-a-new-strategy-model-shows-how-social-grants-could-work-241694

    MIL OSI Africa –

  • MIL-OSI Global: South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work

    Source: The Conversation – Africa – By Ramos Emmanuel Mabugu, Professor, Sol Plaatje University

    South Africa has been struggling for decades to reduce poverty, inequality and unemployment and raise the rate of economic growth.

    Economic growth has been slow since a recession in 2008. The annual growth rate averaged 1.1% between 2009 and 2021, slowing to 0.6% in 2023.

    Unemployment remains stubbornly above 30%. It was 32.9% in the first quarter of 2024.

    The country’s Gini coefficient, a measure of how income is distributed across the population, is estimated to be 0.63, one of the worst in the world. Poverty levels remain high too. A large number of people live in extreme poverty. According to Statistics South Africa, an estimated 40.0% of the population (or 25 million people) have a monthly consumption expenditure of below R9,096 (which is used as the lower-bound poverty line). And 55.5% of the population falls within the upper-bound poverty line, with monthly consumption expenditure of below R13,656.

    This is despite government’s extensive spending on social assistance and other support mechanisms. In the 2023/24 fiscal year, there were 18.8 million social grant beneficiaries (about 35% of the population) with an annual cost to the fiscus of R217.1 billion (US$12.2 billion). This is expected to increase to R259.3 billion (US$14.6 billion) in 2026/27.

    Social support also includes spending on health, education, social protection, community development and employment programmes which protect the most vulnerable groups. In addition, the government has extended the Social Relief of Distress Grant which was introduced during the COVID pandemic.

    Based on my research as an economist for the last 20 years, I believe the government won’t make much progress in reducing unemployment, inequality and poverty unless it adopts a different strategy – one that targets extreme poverty reduction explicitly.

    In a recent paper, colleagues and I identify key conditions for reducing extreme poverty through social transfers. We designed an economic simulation model to track the effect of increasing social grants to very poor South Africans to move them out of extreme poverty. This would be done by transferring an average of R4,020 (US$225) to every extremely poor South African. Based on our assumptions, about 25 million individuals would be eligible for this social transfer.

    Moving about 25 million South Africans out of extreme poverty would cost on average US$6.5 billion per year. We argue that this cost is worth carrying. Our model also showed that, under certain conditions, poverty-alleviation social transfers can be good for the broader economy.

    Additional benefits

    We know that social grants are important instruments to fight poverty and inequality in South Africa. They can produce sizeable multiplier effects in the economy.

    But we wanted to know more about how society benefits when a large share of the public budget is transferred to poor households.

    What makes the model we built to explore this different is that we simulated the economic implications of a hypothetical South Africa with lower poverty and inequality outcomes. More precisely, we set the poverty headcount rate at the lower-bound poverty line at 5.0% under both unconstrained and constrained scenarios. This is the conventionally accepted definition of extreme poverty eradication.

    The tool combined a macroeconomic model to project the economic impacts and a micro-simulation model to work out the poverty and inequality effects.

    We tested a combination of policy options, including social grants, and their multiplier effects and funding implications. We considered two financing scenarios: one that involved a budget deficit and one which was budget-neutral.

    Under a budget-neutral scenario, funding for interventions would be taken from budgets allocated for other purposes and put towards poverty alleviation instead.

    Key findings

    The model showed that the South African economy, measured by the level of gross domestic product (GDP), would grow faster (by 0.5 percentage points) when the transfer was designed to support poor people’s progressive engagement in economic participation rather than simply providing them with a basic cash grant. This can be done, for instance, by expanding and upgrading the current social assistance schemes such as the public work programmes. These have been shown to have positive outcomes for economic participation.

    When people who receive income transfers are able to work, they contribute to a higher supply of goods and services as well as to higher demand.

    The inflationary effects, in particular food price increases, are limited under this scenario.

    On the other hand, GDP deteriorates by 1 percentage point when there is no requirement or condition for participation (when grant recipients still don’t have a job). Under this scenario food demand increases and related price increases contribute to reducing consumers’ purchasing power.

    What needs to be done

    Our model shows how poverty-alleviation social transfers can have positive economic outcomes under two conditions.

    First, the expansion of the grant lifting approximately 25 million South Africans above the lower-bound poverty line of R9,606 has to be done under a budget-neutral funding arrangement.

    Second, the transfer has to be made with a requirement that there is an increase in the economic participation of extremely poor beneficiaries. In other words, the grant only has a positive effect if the very poor beneficiaries can find work or are required to participate in a certain kind of public work activity.

    The fiscal cost of the poverty alleviating grant transfer would be around 1.6% of GDP or 4.9% of public expenditure. This would mean increasing social spending by 4.9%. Alternatively, spending on other areas would have to be cut by the same proportion.

    In either scenario, the findings show that this constraint might even be relaxed if the fiscal transfer enabled poor people to get work or if the cash transfer was conditional on recipients doing certain work.

    In our view the benefits of this are massive in terms of extreme poverty eradication.

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

    – ref. South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work – https://theconversation.com/south-africas-fight-against-extreme-poverty-needs-a-new-strategy-model-shows-how-social-grants-could-work-241694

    MIL OSI – Global Reports –

  • MIL-OSI Europe: A green fix for steel

    Source: European Investment Bank

    Finding more sustainable production processes can raise steel prices a lot. This is because companies must spend millions of euros on research, new equipment and training. One estimate suggests that it is 25% more expensive to make low-carbon steel. A lot of steel research today focuses on making a product that emits less carbon and does not increase costs substantially.

    Most of the so-called green steel is not able to compete with cheaper steel made from traditional blast furnaces, but it is still in demand. Industries such as the automotive sector will pay a premium for a sustainable, high-quality product. And new regulations in the European Union and other regions are making it mandatory that companies use more low-carbon steel or pay tariffs.

    Tonteling, the senior engineer at the European Investment Bank, says the one thing we can’t do with steel in the future is stop making it.

    “Just think about how you got out of bed this morning,” he says. “There is steel in the bed. And think how many times you use steel to leave the home, get to work, ride a bike, drive or take public transport. Steel is everywhere and it can’t be replaced. There is no other method or material that has the same properties and that is this abundant and relatively cheap.”

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: June Labour Market Report published30 October 2024 ​​​​Statistics Jersey have today published the June 2024 Labour Market report. This report is published every six months and covers key aspects of the job market for both the private and public sector.… Read more

    Source: Channel Islands – Jersey

    30 October 2024

    ​​​​Statistics Jersey have today published the June 2024 Labour Market report. This report is published every six months and covers key aspects of the job market for both the private and public sector. ​​ 

    Summary for the Labour Market Report in June 2024

    • The total number of jobs was 65,290. This was made up of 55,590 jobs in the private sector and 9,710 jobs in the public sector. The number of jobs, in both private and public sectors, were at their highest recorded to date.
    • There was an annual increase of 510 jobs (0.8%) since June 2023.
      • In the private sector there was an annual increase of 70 jobs (0.1%). There was a decrease of 70 jobs filled by entitled or entitled for work individuals since June 2023, which was more than offset by increases in jobs filled by other residential statuses.
      • In the public sector there was an annual increase of 440 jobs (4.7%). This increase was driven by an increase of 450 in the number of Government of Jersey (GOJ) core jobs (permanent and fixed term employees). The departments with the largest annual increase in core staff were Children, Young People, Education and Skills (up 190) and Health and Community Services (up 150).

    ​In the private sector at the sectoral level

    • Three sectors saw notable annual increases in jobs:
      • 130 jobs in private education, health and other services (up 1.5%)
      • 120 jobs in financial and legal activities (up 0.9%)
      • 100 jobs in miscellaneous business activities (up 1.6%)
    • Three sectors recorded notable annual decreases in jobs:
      • 160 jobs in construction and quarrying (down 2.5%)
      • 100 jobs in hotels, restaurants and bars (down 1.5%)
      • 80 jobs in wholesale and retail (down 1.1%)

    ​Over the last five years (from June 2019 to June 2024)

    • There was an increase of 2,820 all sector jobs (up 4.5%) from June 2019.
      • The total number of private sector jobs increased over five years by 930 (up 1.7%).
      • Public sector jobs increased by 1,890 from June 2019 to June 2024 (up 24.2%), which has brought the proportion of workforce jobs in Government of Jersey core jobs (13.2%) above the average for the last two decades (12.1%). 

    Labour Market June 2024​​​

    MIL OSI United Kingdom –