Source: Hong Kong Government special administrative region
Local and Mainland young singers to show talents at “POP KONG” concert (with photos) Local and Mainland young singers to show talents at “POP KONG” concert (with photos) ******************************************************************************************
The 4th Guangdong-Hong Kong-Macao Greater Bay Area Culture and Arts Festival is presenting the “POP KONG” concert on October 31 and November 1 (Thursday and Friday) to showcase the talents and creativity of young artists from both Hong Kong and the Mainland, injecting fresh impetus into the music scenes of the region. The concert is presented by the Leisure and Cultural Services Department and AC Orange Co Ltd. Emerging singer-songwriters Monkey Sit, Zino Chan and a Bu from Hong Kong, along with Haibhue and Cantopop band Mover from the Mainland, will share the stage to perform their original compositions and popular hits. Celebrated singer-songwriter Phil Lam will also appear as a special guest, fully showing the charm of original Chinese pop music. The three up-and-coming artists mentioned above were all participants of the “My Main Stage” music production pilot programme founded by veteran music producer Chiu Tsang-hei. Their works have been released on major streaming platforms. Monkey, also an illustrator, started off as a street performer before taking the stage at Freespace Happening, Lau Bak Livehouse, Lost Star, Hong Kong Museum of Art, Hong Kong Pop Culture Festival, and more. Zino executive-produced radio programme “Lemonaid” in 2018, and reinvented Sally Yeh’s famous tune “Friends or Lovers” for her performance at Hunan Satellite TV’s “Endless Melody” programme in 2022. Last but not least, a Bu composed the theme song for his graduation project at the Hong Kong Baptist University’s Academy of Film in 2022, and went on to compose competition background music for the Hong Kong Wushu Team. Haibhue, a singer-songwriter from the Mainland, is skilled at blending nursery rhymes with modern music. Her music evokes tales of olden times, always offering a sense of calm. Mover, a six-member original band, chiefly creates music in Cantonese. Their music spans a wide spectrum from pop rock and shoegaze to alternative rock and pop punk. By the end of 2024, the band will embark on their first nationwide tour. “POP KONG” will be held at 8pm on October 31 and November 1 at the Hong Kong Cultural Centre Studio Theatre. Tickets priced at $200 and $300 are now available at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288; patrons may also use the mobile ticketing app “URBTIX”. Discount schemes are available for programmes under the 4th Guangdong-Hong Kong-Macao Greater Bay Area Culture and Arts Festival (namely “ChoreoMusica Soiree”, “POP KONG”, Cantonese Opera Film “The Legend of the White Snake”, 2024 Zhuhai-Hong Kong-Macao Choral Concert, “Songs Echo My Voice” and Dance Drama “Wing Chun” Special Edition by Shenzhen Opera and Dance Theatre), including group booking discount and package booking discount. For programme enquiries and concessionary schemes, please call 2734 2960 or visit gbacxlo.gov.hk/en/programmes/pop-kong. “POP KONG” is also a celebratory programme of the 35th anniversary of the Hong Kong Cultural Centre. Hong Kong is the host city of the Guangdong-Hong Kong-Macao Greater Bay Area Culture and Arts Festival for the first time this year. It organises and co-ordinates over 260 performances and exchange activities to be held across the “9+2” cities of the Greater Bay Area. The festival aims to showcase the vibrant and diverse cultural richness of the region and foster cultural exchange and co-operation among the cities. For more details, please visit http://www.gbacxlo.gov.hk.
This combo photo shows giant pandas An An (L) and Ke Ke. (China Conservation and Research Center for the Giant Panda/Handout via Xinhua) It’s been a week since a new panda pair’s arrival in Hong Kong and the two chubby ones gifted by the central government to the Hong Kong Special Administrative Region (HKSAR) were well adapting to their new life at Ocean Park Hong Kong. The pair was currently in a 30-day quarantine period, after which they will need to acclimatize to another venue for about a month, before they meet the public in December this year at the earliest, park officials told a briefing on Thursday. Video footage from the Ocean Park showed frisky An An sitting on the ground, playing with and eating bamboo, and Ke Ke quietly eating carrots. Male panda An An is more adventurous, open and adaptive to new things, while female Ke Ke is more reserved and timid, curious about sounds, said Matt Leung, assistant curator of Ocean Park’s animal care team, who went to the pair’s hometown in Sichuan as early as mid-July to make friends with them. A naming campaign for the two pandas kicked off on Wednesday across Hong Kong and is expected to run until the end of this month. Currently, caretakers feed An An and Ke Ke four meals day, much the same as they had in Sichuan, and they are getting accustomed to bamboo from Guangdong province. The two pandas are currently in stable condition with normal appetite and behavior, and the care team and veterinarians will continue monitoring their food intake and bowel movements on a daily basis, said Howard Chuk Hau-chung, head of zoological operations and conservation at the park, on Thursday. The veterinarians will then arrange for them full physical examinations, encourage them to explore natural plants in the playground, use the jungle gym, and so on, to develop different natural behaviors, Chuk added. To help them fight homesickness and make themselves at home in Hong Kong, Leung said caretakers will mainly speak Cantonese, but will use Mandarin or Sichuan dialect when calling their names. “Hopefully through such daily talks, An An and Ke Ke can recognize their voices and establish a bond with them so as to enhance mutual trust and a sense of security,” he said. A more precise date to meet the public will be determined according to their adaptation, park officials said.
Source: United Kingdom – Executive Government & Departments 3
£10 million humanitarian package will support thousands of people who have been displaced and impacted by the conflict
The Foreign Secretary continues to work with his counterparts to reduce tensions in the Middle East.
Comes as the UK Government has chartered more flights to help British nationals leave Lebanon
The UK is boosting its humanitarian support for Lebanon with a further £10 million to respond to the mass displacement of people, as well as the growing number of civilian casualties.
The funding comes as the UK continues to urge all British nationals to leave the country as soon as possible, and for an immediate ceasefire between Lebanese Hizballah and Israel. A ceasefire would provide the space necessary to find a political solution in line with Resolution 1701 and enable civilians on both sides to return to their homes.
The aid package responds to serious concerns over a widespread lack of shelter, and reduced access to clean water, hygiene and healthcare. It will be delivered through trusted humanitarian organisations, who have a long-established presence delivering aid within Lebanon.
The announcement follows the £5 million humanitarian package delivered through UNICEF to support access to clean water and sanitation, health, and nutrition supplies.
The UN’s Central Emergency Response Fund (CERF), which the UK is the largest donor to, this week also allocated £7.6m to respond to the urgent conflict-related needs and displacement in Lebanon.
Anneliese Dodds, Minister of State for Development and Minister of State for Women and Equalities, said:
The human cost of the conflict in Lebanon is clear for all to see. This additional funding from the UK will help to address the rapidly deteriorating humanitarian situation, providing relief for people displaced by the continuing violence.
This lifesaving aid is vital, but not a long-term solution. The only way to truly address the growing humanitarian crisis is an immediate ceasefire adhered to by both sides.
We continue to urge British nationals in Lebanon to leave immediately.
The Government yesterday (3 October) announced that it is also chartering more flights to help British nationals leave Lebanon. More than 150 British nationals and dependants left Beirut on a government-chartered flight on Wednesday (2 October).
British nationals and their spouse or partner, and children under the age of 18 are eligible. All passengers must hold a valid travel document. Dependants who are not British nationals will require a valid visa that has been granted for a period of stay in the UK of more than 6 months.
The UK continues to work with partners to increase capacity on commercial flights for British nationals. Around 700 troops and Foreign Office and Home Office staff, including Border Force officers, have been deployed to Cyprus for contingency planning.
Defence Secretary John Healey travelled to Cyprus yesterday to meet and thank deployed military personnel.
Background
Today’s funding announcement comes from pre-existing Official Development Assistance budgets and is already accounted for.
The UK is committed to supporting the most vulnerable in Lebanon, including refugees and Lebanese communities, with timely, flexible assistance to address basic needs and reduce suffering.
The UK’s bilateral humanitarian support to Lebanon this financial year through the Lebanon Humanitarian Programme – including this £10 million – is focussed on:
Supporting the most vulnerable refugee and Lebanese communities to meet their basic needs
Providing essential education and child protection services to over 5,000 of the most vulnerable and marginalised out of school children and
Supporting the Government of Lebanon to develop more inclusive, sustainable, and accountable social protection systems
Through the Lebanon Humanitarian Programme, the UK is one of the largest donors to UN OCHA’s Lebanon Humanitarian Fund which has allocated $14.7 million to a range of non-governmental organisations for preparedness and response to displacement.
In addition to the $10m announced this week, earlier this year a CERF allocation of $9 million was released to support UN partners response to the rising needs in Southern Lebanon.
$2.2 million Education Cannot Wait (ECW) funding has been released to support 5,000 children affected by the crisis. The UK is the second largest donor to ECW.
Samsung Electronics showcased its vision and innovations in software, services and platforms during the Samsung Developer Conference 2024 (SDC24) on October 3 at the San Jose McEnery Convention Center in San Jose, California.
Celebrating the tenth anniversary of Samsung Developer Conference, SDC24 welcomed approximately 3,000 developers, partners and media from around the world under the theme “AI for All — A Decade of Open Innovation and Beyond.”
Samsung Newsroom attended SDC24 to observe the possibilities of a new future powered by AI.
Personalized and Secure AI Experiences
The event commenced with a keynote address by Jong-Hee (JH) Han, Vice Chairman, CEO and Head of Device eXperience (DX) Division at Samsung Electronics. During his speech, Han unveiled a vision of delivering more personalized and secure experiences through multi-device AI technology.
“In the future, Samsung devices will recognize who is speaking and deliver a customized experience. What’s more, connected devices and sensors throughout the home will be able to recognize your location to provide another level of personalization,” he said. “As Samsung has the widest range of devices from mobile to TVs and home appliances, I believe we are best positioned to provide this customized AI experience.”
▲ Vice Chairman JH Han delivers his speech at SDC24.
Daehyun Kim, Executive Vice President and Head of Global AI Center, Samsung Research, outlined the company’s AI research direction and security technology strategy.
“We have more solutions that protect your privacy without compromising game-changing technology and experiences, for both on-device AI and cloud AI experiences,” he said. “Our generative AI for text, images and speech has come to life through work with our partners and plays a crucial role in shaping our vision for the future of AI.”
▲ EVP Daehyun Kim explains the intersection of AI and security.
AI-Driven Innovations for Smarter Experiences
Samsung is integrating AI across its portfolio to enhance customer experiences. The company announced plans to extend One UI beyond mobile devices to become the software experience for all Samsung consumer products.
“As we want more people to benefit from AI experiences, we will be expanding a selection of these Galaxy AI experiences beyond our flagship devices into our A series and continue to bring Galaxy AI to the entire Galaxy ecosystem,” said Sally Hyesoon Jeong, Executive Vice President and Head of Framework R&D, Mobile eXperience (MX) Business.
She also gave attendees a sneak peek into the forthcoming One UI 7. The beta version will be available to developers before the end of this year.
“We’re exploring a brand new UX design,” Jeong added. “One UI 7 will bring a fresh new look to the entire interface.”
▲ EVP Sally Hyesoon Jeong previews One UI 7.
“We’ve been working on new ways to integrate Bixby into our AI home to control appliances and improve experiences,” said Young Ah Lee, Vice President and Head of UX, Digital Appliances (DA) Business. “Our latest update for Bixby leverages AI technology to make your interactions with appliances as easy as talking to a friend.”
▲ VP Young Ah Lee discusses user experiences with Bespoke AI home appliances.
Moon-soo Kim, Vice President and Head of Application S/W R&D, Visual Display (VD) Business, shared how the upgraded Bixby helps users find and enjoy tailored TV content with simple voice commands. Meanwhile, Samsung AI Cast allows AI-generated materials from mobile devices to be sent directly to Samsung TVs.
“These kinds of interactions make Samsung TVs truly the best experience for AI interoperability,” he said.
▲ VP Moon-soo Kim highlights the new features of Samsung’s AI TVs.
In January of this year, Samsung launched Samsung Visual eXperience Transformation (VXT) — a next-generation content management solution. Alex YW Lee, Executive Vice President and Head of Visual eXperience PM, Visual Display (VD) Business, showcased how users can create and organize B2B displays with AI and access a broad range of Pre-Integrated Repeatable Solutions from partners.
“As we look ahead to the future of VXT, we’re continuing to find new ways to partner with developer communities,” he said. “Join us in shaping this new ecosystem and producing the world’s best apps and services on VXT.”
▲ EVP Alex YW Lee emphasizes the importance of AI in the B2B space.
Platform Innovation and Responsible AI
In addition, Samsung revealed the latest SmartThings updates that rely on open collaboration and AI to offer more personalized and seamless user experiences.
“We just released Home Insight,” said Jaeyeon Jung, Executive Vice President and Head of SmartThings, Device Platform Center. “Designed to understand the way you live, it provides timely home reports and delivers recommendations tailored to your usage patterns, preferences and even the time of year.”
▲ EVP Jaeyeon Jung introduces the newest SmartThings services.
Hobum Kwon, Vice President and Head of Platform, Samsung Research, highlighted how Tizen OS includes AI models powered by Samsung’s neural processing unit chips and offers improved connectivity with Galaxy devices.
“Tizen’s clean software architecture ensures that Tizen devices receive OS upgrades for up to seven years,” he said.
▲ VP Hobum Kwon presents the newest features of Tizen OS.
Platform innovation is propelled by advanced security technology.
“Samsung is committed to advancing AI responsibly, and we have three core AI ethics principles — fairness, transparency and accountability — that guide everything we do,” said Shin Baik, Head of Security Assurance, Device Platform Center. “We believe that automating vulnerability detection is essential to keeping pace with this evolving threat landscape. This means that we use AI technology to conduct automated security checks on new products. You’ll see this first on Tizen products, and we’ll continue rolling this capability out across Samsung’s entire product and service portfolio.”
▲ Shin Baik, Head of Security Assurance, stresses the need for responsible AI innovation.
Building Tomorrow With Developers and Partners
Throughout the presentation, attendees witnessed Samsung’s latest software technologies and developer support initiatives. Samsung will continue growing its AI ecosystem through open collaboration with developers and partners to reinforce the company’s competitive edge in the AI era.
▲ Developers and partners watch the keynote at SDC24.
Source: United Kingdom – Executive Government & Departments
£10 million humanitarian package will support thousands of people who have been displaced and impacted by the conflict
The Foreign Secretary continues to work with his counterparts to reduce tensions in the Middle East.
Comes as the UK Government has chartered more flights to help British nationals leave Lebanon
The UK is boosting its humanitarian support for Lebanon with a further £10 million to respond to the mass displacement of people, as well as the growing number of civilian casualties.
The funding comes as the UK continues to urge all British nationals to leave the country as soon as possible, and for an immediate ceasefire between Lebanese Hizballah and Israel. A ceasefire would provide the space necessary to find a political solution in line with Resolution 1701 and enable civilians on both sides to return to their homes.
The aid package responds to serious concerns over a widespread lack of shelter, and reduced access to clean water, hygiene and healthcare. It will be delivered through trusted humanitarian organisations, who have a long-established presence delivering aid within Lebanon.
The announcement follows the £5 million humanitarian package delivered through UNICEF to support access to clean water and sanitation, health, and nutrition supplies.
The UN’s Central Emergency Response Fund (CERF), which the UK is the largest donor to, this week also allocated £7.6m to respond to the urgent conflict-related needs and displacement in Lebanon.
Anneliese Dodds, Minister of State for Development and Minister of State for Women and Equalities, said:
The human cost of the conflict in Lebanon is clear for all to see. This additional funding from the UK will help to address the rapidly deteriorating humanitarian situation, providing relief for people displaced by the continuing violence.
This lifesaving aid is vital, but not a long-term solution. The only way to truly address the growing humanitarian crisis is an immediate ceasefire adhered to by both sides.
We continue to urge British nationals in Lebanon to leave immediately.
The Government yesterday (3 October) announced that it is also chartering more flights to help British nationals leave Lebanon. More than 150 British nationals and dependants left Beirut on a government-chartered flight on Wednesday (2 October).
British nationals and their spouse or partner, and children under the age of 18 are eligible. All passengers must hold a valid travel document. Dependants who are not British nationals will require a valid visa that has been granted for a period of stay in the UK of more than 6 months.
The UK continues to work with partners to increase capacity on commercial flights for British nationals. Around 700 troops and Foreign Office and Home Office staff, including Border Force officers, have been deployed to Cyprus for contingency planning.
Defence Secretary John Healey travelled to Cyprus yesterday to meet and thank deployed military personnel.
Background
Today’s funding announcement comes from pre-existing Official Development Assistance budgets and is already accounted for.
The UK is committed to supporting the most vulnerable in Lebanon, including refugees and Lebanese communities, with timely, flexible assistance to address basic needs and reduce suffering.
The UK’s bilateral humanitarian support to Lebanon this financial year through the Lebanon Humanitarian Programme – including this £10 million – is focussed on:
Supporting the most vulnerable refugee and Lebanese communities to meet their basic needs
Providing essential education and child protection services to over 5,000 of the most vulnerable and marginalised out of school children and
Supporting the Government of Lebanon to develop more inclusive, sustainable, and accountable social protection systems
Through the Lebanon Humanitarian Programme, the UK is one of the largest donors to UN OCHA’s Lebanon Humanitarian Fund which has allocated $14.7 million to a range of non-governmental organisations for preparedness and response to displacement.
In addition to the $10m announced this week, earlier this year a CERF allocation of $9 million was released to support UN partners response to the rising needs in Southern Lebanon.
$2.2 million Education Cannot Wait (ECW) funding has been released to support 5,000 children affected by the crisis. The UK is the second largest donor to ECW.
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.
The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.
Washington, DC – October 4, 2024:
San Marino’s economy remains resilient, supported by a more diversified growth model with manufacturing and the nonfinancial service exporting sectors as key drivers. Prudent fiscal policy and access to international capital markets helped weather the pandemic and energy crises. However, additional fiscal consolidation is warranted given the still high debt level and contingent liabilities from the financial sector. Notwithstanding important progress in resolving legacy issues, further efforts are needed to improve asset quality and strengthen banks’ capitalization and profitability. With the recently negotiated European Union (EU) association agreement, San Marino has a unique opportunity to accelerate much-needed public and financial sector reforms and to further the integration with the EU’s single market to boost confidence in the economy and lift potential growth.
San Marino’s economic growth remained positive despite adverse external shocks, including a regional slowdown and higher interest rates. After an exceptionally strong post-pandemic recovery in 2021-22, growth slowed in 2023 to 0.4 percent following a decline in external demand. Manufacturing, which has been operating at high levels, has decelerated as export orders declined, in part due to the phase-out of fiscal incentives in Italy and a related slowdown in the construction sector. The strong service sector performance, benefiting from the tourism boom and healthy domestic demand, kept employment growing at a robust pace.
Growth is projected to edge up in 2024, strengthening further in 2025, as external demand improves. Stronger consumption on the back of rising real wages and higher investment, facilitated by easing financial conditions, will support domestic and external demand next year. However, there are risks ahead. Downside risks are related to the weakening of external demand while remaining vulnerabilities in the financial sector constitute one of the key domestic risks. The underlying strength of the manufacturing sector, the healthy private sector balance sheets, and prompt implementation of the EU association agreement constitute upside risks to the baseline.
The fiscal position was stronger than expectedlast year but further efforts are needed to ensure sustainability.The government has saved the cyclical tax revenues, kept expenditures in check and primary balance stable in 2023. However, moderate government spending pressures arose in 2024 ―as real spending compression reached its limits and the cost of interest subsidies for the private sector expanded. The public debt-to-GDP ratio continued declining, but its level remains high.
Additionalfiscal consolidation is needed to mitigate financing risks, build fiscal buffers, and reduce the debt-to-GDP ratio below 60 percent.San Marino is an euroized small open economy with a vulnerable financial sector and limited fiscal buffers. The government’s goal of reducing public debt below 60 percent of GDP over the medium term is an important anchor to guide fiscal policy. To achieve this target a moderate additional fiscal effort totaling 1 percent of GDP over the next three years is recommended through:
Designing and implementing a tax reform package introducing a value-added tax (VAT) and broadening the income tax base. With a low tax-to-GDP ratio, introducing a VAT in San Marino can simultaneously enhance fiscal revenues and tax efficiency while minimizing related distortions, increasing fairness and progressivity, and aligning indirect tax procedures with international standards, benefitting the ease of exports. Redesigning tax rebates to avoid overlaps with other exemptions—such as San Marino Card (SMaC) discounts and income tax deductions—can further rationalize the system. The authorities should leverage the technology used for the SMaC in combination with electronic invoicing to mitigate tax avoidance in the new VAT system. Equallyimportant, income tax revenues can be significantly enhanced by rationalizing income tax deductions.
Improving the efficiency of public spending.San Marino should shift from real expenditure compression across all spending areas to prioritizing consolidation of spending with low social return. In this context, it will be important to review transfers to the private sector―including interest subsidy programs―to ensure that transfers are more targeted. Reviewing extra-budgetary funds is also needed to rationalize spending. Large investment plans require sound prioritization based on rigorous cost-benefit analyses.
Keepingpublic wages and pensions growth in check. Moderate public wage and pension growth was key to improving the primary balance. Looking forward, given the limited fiscal space, it is critical to avoid public wage and pension growth above domestic inflation.
Long-term demographic challenges will require additional parametric pension recalibration. The 2022 pension reform has increased contributions, delaying the depletion of the pension fund for a decade. However, ensuring the long-term sustainability of the pension system will require further parametric calibrations to address generous benefits. In addition, there is a need to continue the gradual diversification of the investments of the pension fund towards international markets to mitigate concentration of risks and increase returns.
The debt management strategy needs strengthening to minimize refinancing risks. The recently published fiscal strategy marks an important advancement in the predictability of fiscal policy and communication with investors, but further efforts are needed to upgrade San Marino’s debt management capacity, including more autonomy to implement the financing plan approved in the budget. To smooth the debt amortization of the Eurobond in 2027, the authorities should consider liability management operations, including smaller international issuances with longer maturities.
Banks’ liquidity and reported profits improved in 2023, but declining interest margins, high personnel costs, and remaining legacy non-performing loans (NPLs) pose risks going forward. Higher interest rates last year have improved banks’ cyclical profits without deteriorating the quality of loan portfolios, but structural profitability remains low. The safeguarding of profits to increase capital, as requested by the Central Bank, is welcome. However, with limited income-generating assets, high operating costs, and tight reported capitalization in some banks, the financial sector remains vulnerable.
A speedy adjustment of banks’ costs is a priority to improve long-term viability and capital positions. Most banks’ profitability remains significantly lower than regional peers. The continuing reduction of income-generating assets in recent years has not been followed by a scale-down of banking sector employment. San Marino’s banking system also has the largest number of branches per capita in Europe. With the EU association agreement, the opening of the banking sector will bring new opportunities, but San Marino banks need to improve efficiency to be competitive.
Important progress has been made in implementing the authorities’ strategy to reduce nonperforming loans (NPLs) through an Asset Management Company (AMC) and calendar provisioning. The write-off of a large NPL position and AMC securitization have reduced the NPL ratio from 53 to 21 percent. The asset recovery of the AMC has progressed better than expected, with the principal of state-guaranteed senior securities declining from 70 to 44½ million euros in the first half of 2024. Meanwhile, calendar provisioning has prompted banks to expedite the recovery and write-offs of NPLs. However, it will be important to improve dissemination of the information about the AMC asset recovery to anticipate and address any bottlenecks. The risk weights for junior securities should be increased faster to reflect the difference between the net book value and the real economic value of NPLs on banks’ balance sheets. Any undercapitalization that could arise from the securitization process and the implementation of calendar provisioning should be promptly addressed with credible capitalization plans. To strengthen CBSM supervisory powers and to help attract external capital, legal limits on banks’ shareholding structure should be lifted.
The bank resolution framework needs to be updated to widen burden-sharing. The bank resolution law should be updated to gradually complete the alignment with EU standards. The process needs to be coordinated with addressing existing issues in the banking system.
San Marino should continue to make progress to strengthen its AML/CFT framework. The domestic legal framework was amended in 2023 to incorporate the 5th EU AML Directive and improve technical compliance with the FATF standards. This resulted in an upgrade by MONEYVAL on technical compliance for AML/CFT sanctions regime. The National ML/TF Risk Assessment will be updated next year. San Marino should continue working to enhance the adequacy, accuracy, and up-to-dateness of its central beneficial ownership registry.
The EU association agreement sets an ambitious financial sector reform agenda. The agreement requires the central bank of San Marino (CBSM) to complete the alignment of the regulatory framework with the EU. To that end, the CBSM will need additional staff and financial resources. The CBSM financial position should be strengthened to safeguard its independence and support financial sector stability through an effective lender of last resort capacity. To comply with EU standards, legacy issues should be addressed, including through a gradual conversion of the perpetual bond owned by the state-owned bank into liquid instruments. Overall, while the banking sector has 15 years to meet the requirements, earlier implementation, as envisaged by the authorities, will boost confidence.
The conclusion of the EU association negotiations signals strong commitment to deeper integration with the EU and could lift potential growth by accelerating structural reforms. The successful implementation of the agreement is a priority and will support the competitiveness of the manufacturing sector and help consolidate gains in tourism. The authorities should ensure sufficient resources and staff are available to support implementation without undermining the fiscal consolidation path. In addition, further labor market flexibility is needed to improve labor reallocation, including in the banking sector. Real estate market reforms to facilitate price and market information dissemination and foreign ownership, will be key to support NPL resolution. Finaly, the authorities should foster energy safety and green transition, including by allowing households to sell back excess solar generated electricity.
The mission would like to thank the authorities and other counterparts for their warm hospitality as well as candid and productive discussions.
Source: Hong Kong Government special administrative region
26 persons arrested during anti-illegal worker operations (with photo) 26 persons arrested during anti-illegal worker operations (with photo) **********************************************************************
The Immigration Department (ImmD) mounted a series of territory-wide anti-illegal worker operations codenamed “Contribute”, “Fastrack”, “Lightshadow” and “Twilight”, and a joint operation with the Hong Kong Police Force codenamed “Windsand”, on September 30, October 2 and yesterday (October 3). A total of 21 suspected illegal workers and five suspected employers were arrested. During the anti-illegal worker operations, ImmD Task Force officers raided 50 target locations including a food factory, massage parlours, premises under renovation, residential buildings and restaurants. The arrested suspected illegal workers comprised 14 men and seven women, aged 24 to 62. Among the arrested persons, three men were holders of recognisance forms, which prohibit them from taking any employment. Two men and three women, aged 49 to 60, suspected of employing the illegal workers, were also arrested. An ImmD spokesman said, “Any person who contravenes a condition of stay in force in respect of him or her shall be guilty of an offence. Also, visitors are not allowed to take employment in Hong Kong, whether paid or unpaid, without the permission of the Director of Immigration. Offenders are liable to prosecution and upon conviction face a maximum fine of $50,000 and up to two years’ imprisonment. Aiders and abettors are also liable to prosecution and penalties.” The spokesman warned, “As stipulated in section 38AA of the Immigration Ordinance, an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land is prohibited from taking any employment, whether paid or unpaid, or establishing or joining in any business. Offenders are liable upon conviction to a maximum fine of $50,000 and up to three years’ imprisonment. ” The spokesman reiterated that it is a serious offence to employ people who are not lawfully employable. Under the Immigration Ordinance, the maximum penalty for an employer employing a person who is not lawfully employable, i.e. an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land, has been significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment to reflect the gravity of such offences. The director, manager, secretary, partner, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence. According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee’s identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker’s valid travel document if the job seeker does not have a Hong Kong permanent identity card. Offenders are liable upon conviction to a maximum fine of $150,000 and to imprisonment for one year. In that connection, the spokesman reminded all employers not to defy the law by employing illegal workers. The ImmD will continue to take resolute enforcement action to combat such offences. Under the existing mechanism, the ImmD will, as a standard procedure, conduct an initial screening of vulnerable persons, including illegal workers, illegal immigrants, sex workers and foreign domestic helpers, who are arrested during any operation with a view to ascertaining whether they are trafficking in persons (TIP) victims. When any TIP indicator is revealed in the initial screening, the ImmD officers will conduct a full debriefing and identification by using a standardised checklist to ascertain the presence of TIP elements, such as threats and coercion in the recruitment phase and the nature of exploitation. Identified TIP victims will be provided with various forms of support and assistance, including urgent intervention, medical services, counselling, shelter or temporary accommodation and other supporting services. The ImmD calls on TIP victims to report crimes to the relevant departments immediately.
The lower part of SH8 inland from Milton, south of Dunedin, to Lawrence, has been closed tonight due to surface flooding says NZ Transport Agency Waka Kotahi (NZTA).
SH1 was closed this afternoon south of Waihola to Milton – this section has now reopened but the area south of Milton beyond the SH8 intersection to Allison Road/ Moneymore is now closed. (The NZTA Journey Planner map should be updating shortly)
These conditions are changeable given the water flowing downstream and affecting different areas of highway overnight. People should not drive through deep water, particularly in the dark, stay home tonight.
Household gross disposable income increased in second quarter of 2024 at a lower annual rate of 4.8%, after 6.1% in the first quarter of 2024. The compensation of employees grew at a lower rate of 5.5% (after 6.0%), and gross operating surplus and mixed income of the self-employed increased at a lower rate of 4.6% (after 5.9%). Household consumption expenditure grew at a lower rate of 3.1% (after 4.2%).
The household gross saving rate increased to 14.9% in the second quarter of 2024, compared with 14.5% in the previous quarter.
Household gross non-financial investment (which refers mainly to housing) decreased at a lower annual rate of -1.7% in the second quarter of 2024 (after -3.2% ). Loans to households, the main component of household financing, increased at an unchanged rate of 0.5%.
Household financial investment increased at a higher annual rate of 2.1% in the four quarters to the second quarter of 2024, after 1.9% in the four quarters to the first quarter of 2024. Among its components, currency and deposits grew at a higher rate of 2.3% (after 1.5%), while investment in debt securities increased at a lower rate (28.1% after 40.2%). Investment in shares and other equity grew at a higher rate of 0.3% (after 0.0%). This was due to unlisted shares and other equity decreasing more slowly (-0.3% after -0.9%), while investment fund shares grew at a broadly unchanged rate (1.9%). Investment in listed shares decreased faster (-0.9% after -0.6%). Life insurance decreased at a broadly unchanged rate (-0.2%) and pension schemes grew at a lower rate (2.2% after 2.4%).
Household net worth increased at an annual rate of 2.8% in the second quarter of 2024, after 2.1% in the previous quarter. Net financial and non-financial assets grew due to valuation gains in addition to investments. Housing wealth, the main component of non-financial assets, increased (0.5%) after decreasing in the previous quarter (-1.3%). The household debt-to-income ratio decreased to 83.1% in the second quarter of 2024 from 87.5% in the second quarter of 2023.
Non-financial corporations
Net value added by NFCs grew at a higher annual rate of 1.6% in the second quarter of 2024 (after 1.2% in the previous quarter). The negative growth rate of gross operating surplus decreased (-3.5% after -4.2%), while the growth rate of net property income – defined in this context as property income receivable minus interest and rent payable – increased (4.2% after 0.7%). As a result gross entrepreneurial income (broadly equivalent to cash flow) decreased at a lower rate of -1.3% (after ‑3.7%).[1]
NFCs’ gross non-financial investment decreased at a faster annual rate of -7.0% (after -5.8% in the previous quarter).[2] NFCs’ financial investment grew at a higher rate of 2.2% (after 1.9%) in the four quarters to the second quarter of 2024. Among its components, currency and deposits grew at a higher rate (2.5% after 0.4%), while loans granted increased at a lower rate (3.8% after 4.2%). Investment in shares and other equity grew at an unchanged rate of 1.6%.
Financing of NFCs increased at a higher annual rate of 1.0% (after 0.8%), as financing via debt securities (3.1% after 2.2%), shares and other equity (0.8% after 0.4%) and trade credits (2.1% after 0.4%) all grew at higher rates. Loan financing grew at a lower rate of 0.8% (after 1.2%).[3]
NFCs’ debt-to-GDP ratio (consolidated measure) decreased to 66.7% in the second quarter of 2024, from 69.2% in the same quarter of the previous year; the non-consolidated, wider debt measure decreased to 128.2% from 131.3%.
This statistical release incorporates revisions to the data since the first quarter of 2020.
Revisions of the entire time series may be more pronounced in this and the following release as in 2024 EU countries implement a benchmark revision in national accounts statistics. For further information see also: https://ec.europa.eu/eurostat/web/esa-2010/data-revision.
The annual growth rate of non-financial transactions and of outstanding assets and liabilities (stocks) is calculated as the percentage change between the value for a given quarter and that value recorded four quarters earlier. The annual growth rates used for financial transactions refer to the total value of transactions during the year in relation to the outstanding stock a year before.
The euro area and national financial accounts data of non-financial corporations and households are available in an interactive dashboard.
Hyperlinks in the main body of the statistical release are dynamic. The data they lead to may therefore change with subsequent data releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.
The ECB publishes experimental Distributional Wealth Accounts (DWA), which provide additional breakdowns for the household sector. The release of results for 2024 Q2 is planned for 29 November 2024 (tentative date).
Should young people be paid less than their older counterparts, even if they’re working the same job? Whether you think it’s fair or not, it’s been standard practice in many industries for a long time.
The argument is that young people are not fully “work-ready” and require more intensive employer support to develop the right skills for their job.
Why? They say the need to be fairly paid for equal work effort, as well as economic considerations such as the high cost of living and ongoing housing crisis, mean paying young adults less based on their age is out of step with modern Australia.
So is there a problem with our current system, and if so, how might we go about fixing it?
What are youth wages?
In Australia, a youth wage or junior pay rate is paid as an increasing percentage of an award’s corresponding full adult wage until an employee reaches the age of 21.
This isn’t the case in every industry – some awards require all adults to be paid the same minimum rates.
But for those not covered by a specific award, as well as those working in industries including those covered by the General Retail Industry Award, Fast Food Industry Award and Pharmacy Industry Award, employees younger than 21 are not paid the full rate.
Why pay less?
Conventionally, junior rates have been thought of as a “training wage”. Younger people are typically less experienced, so as they gain more skills on the job over time, they are paid a higher hourly rate.
But there are a few key problems with this approach, which may not be relevant given many employers’ expectations for their workers to start “job-ready” and a lack of consistency in the training they provide.
Training up and developing skills is an important part of building any career. But it isn’t always provided by their employers.
Many young workers train themselves in job-related technical education and short courses, often at their own expense and prior to starting work.
Employers reap the benefit of this pre-employment training and so a “wage discount” for younger workers may be irrelevant in this instance.
None of this is to say employers aren’t offering something important when they take on young employees.
Younger workers coming into employment relatively early have access to more than just a paid job, but also become part of a team, with responsibilities and job requirements that support “bigger-picture” life skills.
Those who employ them may be contributing to their broader social and cultural engagement, something that could be considered part of a more inclusive training package. Whether that justifies a significant wage discount is less clear.
There are growing calls for a rethink on the way we compensate young people for their efforts.
An application by the Shop Distributive and Allied Employees’ Association – the union for retail, fast food and warehousing workers – seeks to remove junior rates for adult employees on three key awards. This action will be heard by the Fair Work Commission next year.
Sally McManus, Secretary of the Australian Council of Trade Unions, said the peak union body will lobby the government to legislate such changes if this application fails. The Greens have added their support.
That doesn’t have to mean abolishing youth wages altogether. But 21 years of age is a high threshold, especially given we get the right to major adult responsibilities such as voting and driving by 18.
A transition strategy could consider gradually lowering this threshold, or increasing the wage percentages over time.
Lessons from New Zealand
We wouldn’t be the first to make such a bold change if we did.
Our geographically and culturally close neighbour, New Zealand, has already removed the “youth wage” – replacing it with a “first job” rate and a training wage set at 80% of the full award rate in 2008.
A common argument against abolishing youth wages – and increasing the minimum wage in general – is that it will stop businesses hiring young people and thus increase unemployment.
But a 2021 study that examined the effects of New Zealand’s experience with increasing minimum wages – including this change – found little discernible difference in employment outcomes for young workers.
The authors did note, however, that New Zealand’s economic downturn post-2008 had a marked effect on the employment of young workers more generally.
It’s easy to see how we arrived at the case for paying younger adults less. But younger workers should not bear the burden of intergenerational inequity by “losing out” on wages in the early part of their working life.
The debate we see now echoes the discussions about equal pay for equal work value run in the 1960s and ‘70s in relation to women’s unequal pay.
We were warned that paying women the same as men would cause huge economic dislocation. Such a catastrophe simply did not come to pass.
Kerry Brown is a member of the National Tertiary Education Union.
A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.
The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.
Washington, DC – October 4, 2024:
San Marino’s economy remains resilient, supported by a more diversified growth model with manufacturing and the nonfinancial service exporting sectors as key drivers. Prudent fiscal policy and access to international capital markets helped weather the pandemic and energy crises. However, additional fiscal consolidation is warranted given the still high debt level and contingent liabilities from the financial sector. Notwithstanding important progress in resolving legacy issues, further efforts are needed to improve asset quality and strengthen banks’ capitalization and profitability. With the recently negotiated European Union (EU) association agreement, San Marino has a unique opportunity to accelerate much-needed public and financial sector reforms and to further the integration with the EU’s single market to boost confidence in the economy and lift potential growth.
San Marino’s economic growth remained positive despite adverse external shocks, including a regional slowdown and higher interest rates. After an exceptionally strong post-pandemic recovery in 2021-22, growth slowed in 2023 to 0.4 percent following a decline in external demand. Manufacturing, which has been operating at high levels, has decelerated as export orders declined, in part due to the phase-out of fiscal incentives in Italy and a related slowdown in the construction sector. The strong service sector performance, benefiting from the tourism boom and healthy domestic demand, kept employment growing at a robust pace.
Growth is projected to edge up in 2024, strengthening further in 2025, as external demand improves. Stronger consumption on the back of rising real wages and higher investment, facilitated by easing financial conditions, will support domestic and external demand next year. However, there are risks ahead. Downside risks are related to the weakening of external demand while remaining vulnerabilities in the financial sector constitute one of the key domestic risks. The underlying strength of the manufacturing sector, the healthy private sector balance sheets, and prompt implementation of the EU association agreement constitute upside risks to the baseline.
The fiscal position was stronger than expectedlast year but further efforts are needed to ensure sustainability.The government has saved the cyclical tax revenues, kept expenditures in check and primary balance stable in 2023. However, moderate government spending pressures arose in 2024 ―as real spending compression reached its limits and the cost of interest subsidies for the private sector expanded. The public debt-to-GDP ratio continued declining, but its level remains high.
Additionalfiscal consolidation is needed to mitigate financing risks, build fiscal buffers, and reduce the debt-to-GDP ratio below 60 percent.San Marino is an euroized small open economy with a vulnerable financial sector and limited fiscal buffers. The government’s goal of reducing public debt below 60 percent of GDP over the medium term is an important anchor to guide fiscal policy. To achieve this target a moderate additional fiscal effort totaling 1 percent of GDP over the next three years is recommended through:
Designing and implementing a tax reform package introducing a value-added tax (VAT) and broadening the income tax base. With a low tax-to-GDP ratio, introducing a VAT in San Marino can simultaneously enhance fiscal revenues and tax efficiency while minimizing related distortions, increasing fairness and progressivity, and aligning indirect tax procedures with international standards, benefitting the ease of exports. Redesigning tax rebates to avoid overlaps with other exemptions—such as San Marino Card (SMaC) discounts and income tax deductions—can further rationalize the system. The authorities should leverage the technology used for the SMaC in combination with electronic invoicing to mitigate tax avoidance in the new VAT system. Equallyimportant, income tax revenues can be significantly enhanced by rationalizing income tax deductions.
Improving the efficiency of public spending.San Marino should shift from real expenditure compression across all spending areas to prioritizing consolidation of spending with low social return. In this context, it will be important to review transfers to the private sector―including interest subsidy programs―to ensure that transfers are more targeted. Reviewing extra-budgetary funds is also needed to rationalize spending. Large investment plans require sound prioritization based on rigorous cost-benefit analyses.
Keepingpublic wages and pensions growth in check. Moderate public wage and pension growth was key to improving the primary balance. Looking forward, given the limited fiscal space, it is critical to avoid public wage and pension growth above domestic inflation.
Long-term demographic challenges will require additional parametric pension recalibration. The 2022 pension reform has increased contributions, delaying the depletion of the pension fund for a decade. However, ensuring the long-term sustainability of the pension system will require further parametric calibrations to address generous benefits. In addition, there is a need to continue the gradual diversification of the investments of the pension fund towards international markets to mitigate concentration of risks and increase returns.
The debt management strategy needs strengthening to minimize refinancing risks. The recently published fiscal strategy marks an important advancement in the predictability of fiscal policy and communication with investors, but further efforts are needed to upgrade San Marino’s debt management capacity, including more autonomy to implement the financing plan approved in the budget. To smooth the debt amortization of the Eurobond in 2027, the authorities should consider liability management operations, including smaller international issuances with longer maturities.
Banks’ liquidity and reported profits improved in 2023, but declining interest margins, high personnel costs, and remaining legacy non-performing loans (NPLs) pose risks going forward. Higher interest rates last year have improved banks’ cyclical profits without deteriorating the quality of loan portfolios, but structural profitability remains low. The safeguarding of profits to increase capital, as requested by the Central Bank, is welcome. However, with limited income-generating assets, high operating costs, and tight reported capitalization in some banks, the financial sector remains vulnerable.
A speedy adjustment of banks’ costs is a priority to improve long-term viability and capital positions. Most banks’ profitability remains significantly lower than regional peers. The continuing reduction of income-generating assets in recent years has not been followed by a scale-down of banking sector employment. San Marino’s banking system also has the largest number of branches per capita in Europe. With the EU association agreement, the opening of the banking sector will bring new opportunities, but San Marino banks need to improve efficiency to be competitive.
Important progress has been made in implementing the authorities’ strategy to reduce nonperforming loans (NPLs) through an Asset Management Company (AMC) and calendar provisioning. The write-off of a large NPL position and AMC securitization have reduced the NPL ratio from 53 to 21 percent. The asset recovery of the AMC has progressed better than expected, with the principal of state-guaranteed senior securities declining from 70 to 44½ million euros in the first half of 2024. Meanwhile, calendar provisioning has prompted banks to expedite the recovery and write-offs of NPLs. However, it will be important to improve dissemination of the information about the AMC asset recovery to anticipate and address any bottlenecks. The risk weights for junior securities should be increased faster to reflect the difference between the net book value and the real economic value of NPLs on banks’ balance sheets. Any undercapitalization that could arise from the securitization process and the implementation of calendar provisioning should be promptly addressed with credible capitalization plans. To strengthen CBSM supervisory powers and to help attract external capital, legal limits on banks’ shareholding structure should be lifted.
The bank resolution framework needs to be updated to widen burden-sharing. The bank resolution law should be updated to gradually complete the alignment with EU standards. The process needs to be coordinated with addressing existing issues in the banking system.
San Marino should continue to make progress to strengthen its AML/CFT framework. The domestic legal framework was amended in 2023 to incorporate the 5th EU AML Directive and improve technical compliance with the FATF standards. This resulted in an upgrade by MONEYVAL on technical compliance for AML/CFT sanctions regime. The National ML/TF Risk Assessment will be updated next year. San Marino should continue working to enhance the adequacy, accuracy, and up-to-dateness of its central beneficial ownership registry.
The EU association agreement sets an ambitious financial sector reform agenda. The agreement requires the central bank of San Marino (CBSM) to complete the alignment of the regulatory framework with the EU. To that end, the CBSM will need additional staff and financial resources. The CBSM financial position should be strengthened to safeguard its independence and support financial sector stability through an effective lender of last resort capacity. To comply with EU standards, legacy issues should be addressed, including through a gradual conversion of the perpetual bond owned by the state-owned bank into liquid instruments. Overall, while the banking sector has 15 years to meet the requirements, earlier implementation, as envisaged by the authorities, will boost confidence.
The conclusion of the EU association negotiations signals strong commitment to deeper integration with the EU and could lift potential growth by accelerating structural reforms. The successful implementation of the agreement is a priority and will support the competitiveness of the manufacturing sector and help consolidate gains in tourism. The authorities should ensure sufficient resources and staff are available to support implementation without undermining the fiscal consolidation path. In addition, further labor market flexibility is needed to improve labor reallocation, including in the banking sector. Real estate market reforms to facilitate price and market information dissemination and foreign ownership, will be key to support NPL resolution. Finaly, the authorities should foster energy safety and green transition, including by allowing households to sell back excess solar generated electricity.
The mission would like to thank the authorities and other counterparts for their warm hospitality as well as candid and productive discussions.
SA a trusted partner in delivering global business services
South Africa is a trusted partner in delivering key global business services such as financial risk, regulatory support and digital services to United Kingdom investors, says Deputy Minister of Trade, Industry and Competition Andrew Whitfield.
The Deputy Minister delivered the keynote address during the South Africa-UK roundtable on Global Business Services (GBS) in London. The session was hosted by Business Process Enabling South Africa in London.
“With a highly skilled, English-speaking workforce, South Africa has positioned itself as a go-to hub for outsourcing services ranging from legal support to digital transformation.
“South Africa’s competitive advantage in offering cutting-edge solutions at a fraction of the cost, saving companies up to 50% compared to other outsourcing destinations puts our country in good stead,” Whitfield explained.
According to the Department of Trade, Industry and Competition, the roundtable formed part of a high-level mission to the United Kingdom (UK) which is being led by Deputy President Paul Mashatile. The visit is focused on promoting South Africa as a premier investment destination.
Whitfield highlighted that the South African global business services (GBS) sector has evolved from traditional call centre services into providing high-value, complex services that meet the needs of global investors.
He added that the UK remained South Africa’s largest source market for GBS, accounting for over 56 000 jobs and generating £650 million in revenue through partnerships with leading UK firms such as British Gas, Scottish Power, and Virgin Atlantic.
Whitfield emphasised that since the introduction of the GBS incentive, more than 50 global companies have established operations in South Africa, generating R40 billion in export revenue.
The primary objective of the incentive which became effective from 1 January 2019, is to create employment in South Africa through servicing offshore activities. The secondary objectives of the programme are to: – Create employment opportunities for the youth (age 18-34 years); and – Contribute to the country’s export revenue from offshoring services.
Growth
He added that the workforce has grown significantly, from 26 700 jobs in 2015 to over 104 000 today.
In addition, the GBS Masterplan is playing an important role in this growth shifting the focus from low-cost call centres to more sophisticated, high-value services, such as data analytics, financial services, and digital risk management.
“Our GBS sector offers far more than cost savings; it delivers quality outcomes with proven resilience. South Africa has shown an exceptional ability to adapt, including the successful implementation of flexible work-from-home models.
“Additionally, we have not experienced any electricity outages for over 190 days, which is a critical factor for global businesses seeking reliable operations,” said the Deputy Minister.
Looking ahead, Whitfield said the GBS Masterplan envisions creating up to 500 000 cumulative jobs by 2030, through continued expansion and new investments.
The Global Business Services Masterplan was signed by the department and stakeholders on 18 November 2021.
The Masterplan process brings together government, industry, social partners and labour to set a common vision and action agenda for developing and growing the sector.
“We will work tirelessly with all stakeholders to realise this high-growth scenario, particularly as global businesses increasingly look to South Africa as a destination for innovative digital services and niche sector solutions.”
Furthermore, he urged UK businesses to explore the lucrative opportunities in South Africa’s GBS sector.
“Our value proposition is clear, quality services, major cost savings, and a stable environment. We invite British investors to take advantage of the opportunities our dynamic sector offers and contribute to its continued growth.
“Ultimately, this is a key sector to realising the Government of National Unity’s apex priority to rapid economic growth and job creation,” he said.
The Deputy Minister was pleased with the positive engagements and sentiment from GBS companies present, who have a healthy pipeline to expand their operations in South Africa in the next 12 months. –SAnews.gov.za
Source: Hong Kong Government special administrative region
Opening remarks by SDEV on quarterly land sale programme for October to December 2024 Opening remarks by SDEV on quarterly land sale programme for October to December 2024 *************************************************************************************
Following are the opening remarks by the Secretary for Development, Ms Bernadette Linn, at a media session today (October 4) on the quarterly land sale programme for October to December 2024: Today I will introduce the Government’s Land Sale Programme in the third quarter of this financial year, that is October to December 2024. In the third quarter, we will put up for tender two sites, namely, one residential site in Tai Wai and a site in Hung Shui Kiu, for development of Multi-storey Buildings for modern industries. Residential site I will first briefly introduce the residential site. The site is located on Mei Tin Road, Tai Wai, expected to provide a supply of about 360 flats. This site is not among the list of sites on the Land Sale Programme we announced in February this year. This is because the technical study for this site was not yet completed back then. Upon completion of the relevant studies, we find it appropriate to include this site in the Land Sale Programme and put it up for tender in this quarter, having considered market response to the sale of residential sites in Sha Tin in the first two quarters as well as developers’ greater interest these days in smaller-scale sites well served by transportation network and amenities. In addition, the MTR Corporation Limited (MTRCL) plans to tender in this quarter its development project in Tung Chung East Station (Package 1), bringing about 600 flats. In view of market response, the MTRCL reduced the development scale of this package to half of its previous scale when it first tendered in October 2023. The MTRCL will announce details at the time of tender invitation. As for private development and redevelopment projects, three projects are expected to complete their lease modifications in this quarter, providing a supply of 1 235 flats. The majority of these come from a relatively large-scale in-situ land exchange application in the Fanling North New Development Area. The applicant has recently accepted the Lands Department’s Binding Basic Terms Offer for that project. This is the second land exchange case concluded after the Government revised in end-2023 the land exchange arrangements for the Enhanced Conventional New Town Approach. These in-situ land exchange applications will enhance the speed of implementing the Northern Metropolis and reduce the Government’s upfront spending on land resumption and public works while at the same time allowing the Government to receive premium revenue earlier. To summarise, taking all the above sources of housing land supply into account, the total private housing land supply in the third quarter will support the development of around 2 200 flats. Together with the supply from the first two quarters, the total supply for the first three quarters of this financial year is expected to support some 6 470 flats, which is close to 50 per cent of our annual supply target of 13 200 flats. This figure has not yet reflected private development projects not requiring lease modification in the third quarter, as such figures are only available at a later stage. Industrial site Regarding the industrial site, we will roll out shortly a site in Hung Shui Kiu for development of Multi-storey Buildings. We will continue adopting the two-envelope approach for the disposal of this site in order to demonstrate the importance we attach to the quality of such Multi-storey Buildings, with a view to achieving the Government’s policy objectives to promote development of modern industries and at the same time consolidating some of our brownfield operations. In order to keep up with market demand, we have undertaken further engagement with the market in the past few months regarding the tender conditions of this site. Based on the market feedbacks so gathered, we will adjust the conditions of this site including downward adjustment of its plot ratio, downward adjustment of the floor area to be returned to the Government and giving a longer tender period. Details of the tender will be announced when we commence the tender invitation for the two sites I named above, one housing site and one industrial site. The Government will continue to sustain our effort in rolling out land in a prudent manner to meet our housing and economic development needs.
PM to visit Maharashtra on 5th October PM to launch various initiatives related to the agricultural and animal husbandry sector worth around Rs 23,300 crore in Washim
Celebrating the rich heritage of the Banjara community, PM to inaugurate Banjara Virasat Museum
PM to inaugurate and lay foundation stone of various projects worth over Rs 32,800 crore in Thane
Key focus of the projects: Boosting urban mobility in the region
PM to inaugurate Aarey JVLR to BKC section of Mumbai Metro Line 3 Phase – 1
PM to lay foundation stones of Thane Integral Ring Metro Rail Project and Elevated Eastern Freeway Extension
PM to lay foundation stone of Navi Mumbai Airport Influence Notified Area (NAINA) project
Posted On: 04 OCT 2024 5:39AM by PIB Delhi
Prime Minister Shri Narendra Modi will visit Maharashtra on 5th October. He will travel to Washim and at around 11:15 AM, he will perform Darshan at Jagdamba Mata Temple, Poharadevi. He will also pay tribute at Samadhis of Sant Sevalal Maharaj and Sant Ramrao Maharaj in Washim. Thereafter, at around 11:30 AM, Prime Minister will inaugurate the Banjara Virasat Museum, celebrating the rich heritage of the Banjara community. At around 12 noon, he will launch several initiatives related to the agricultural and animal husbandry sector worth around Rs 23,300 crore. At around 4 PM, Prime Minister will inaugurate and lay the foundation stone for various development projects worth over Rs 32,800 crore at Thane. Thereafter at around 6 PM, from BKC Metro Station, he will flag off the Metro train scheduled to run from BKC to Aarey JVLR, Mumbai. He will also undertake a ride in the metro between BKC and Santacruz stations.
PM in Washim
In line with his commitment to empower farmers, Prime Minister will disburse the 18th instalment of the PM-KISAN Samman Nidhi worth about Rs 20,000 crore to around 9.4 crore farmers. With the 18th instalment release, the total funds released to farmers under PM-KISAN will be around Rs 3.45 lakh crore. Further, Prime Minister will also launch the 5th instalment of NaMo Shetkari Mahasanman Nidhi Yojana disbursing about Rs 2,000 crore.
Prime Minister will dedicate to the nation more than 7,500 projects under the Agriculture Infrastructure Fund (AIF), worth over Rs 1,920 crore. The major projects include custom hiring centres, primary processing units, warehouses, sorting and grading units, cold storage projects, post-harvest management projects among others.
Prime Minister will also dedicate to the nation 9,200 Farmer Producer Organizations (FPOs) with a combined turnover of around Rs 1,300 crore.
Further, Prime Minister will launch the Unified Genomic Chip for cattle and indigenous sex-sorted semen technology. This initiative aims to increase availability of sex sorted semen at affordable price to farmers and reduce the cost by around Rs 200 per dose. Unified Genomic Chip, GAUCHIP for indigenous cattle and MAHISHCHIP for buffaloes, have been developed along with genotyping services. With the implementation of genomic selection, young high-quality bulls can be identified at an early age.
Further, Prime Minister will dedicate five solar parks with a total capacity of 19 MW across Maharashtra under Mukhyamantri Saur Krushi Vahini Yojana – 2.0. During the programme, he will also honour beneficiaries of the Mukhyamantri Majhi Ladki Bahin Yojana.
PM in Thane
In a major push to boost urban mobility in the region, Prime Minister will inaugurate and lay the foundation stone of key metro and road projects. Prime Minister will inaugurate the BKC to Aarey JVLR section of Mumbai Metro Line – 3 worth around Rs 14,120 crore. This section will have 10 stations, of which 9 will be underground. Mumbai Metro Line – 3 is a key public transport project that will improve commuting between Mumbai city and Suburbs. Fully operational line-3 is expected to cater to about 12 lakh passengers daily.
Prime Minister will lay the foundation stone of Thane Integral Ring Metro Rail Project to be constructed at the cost of around Rs 12,200 crore. The total length of the project is 29 km with 20 elevated and 2 underground stations. This ambitious infrastructure project is a key initiative to address the growing transportation needs of Thane, a major industrial and commercial hub in Maharashtra.
Prime Minister will also lay the foundation stone of Elevated Eastern Freeway Extension from Chheda Nagar to Anand Nagar, Thane worth around Rs 3,310 crore. The project will provide seamless connectivity from South Mumbai to Thane.
Further, Prime Minister will lay the foundation stone of Phase-1 of Navi Mumbai Airport Influence Notified Area (NAINA) project worth around Rs 2,550 crore. The project comprises construction of major arterial roads, bridges, flyovers, underpasses and integrated utility infrastructure.
Prime Minister will also lay the foundation stone of Thane Municipal Corporation to be constructed at a cost of around Rs 700 crore. The high rise administrative building of Thane Municipal Corporation will provide benefits to citizens of Thane by accommodating most Municipal offices at a centrally located building.
New scheme will promote good growth and design in neighbourhoods across the capital
New Town Architects appointed to support the future development of ten locations in London
The Mayor of London, Sadiq Khan, has appointed ten built environment experts to support the capital’s boroughs to improve the quality of high streets and public spaces, in a brand-new pilot scheme.
The Town Architects programme, which is being piloted for two years, forms part of the Mayor’s £1.25m Local Growth Capacity Support Programme which aims to support local growth and the design of public spaces in London. The programme builds on the Mayor’s work to support the creation of safe, inclusive and sustainable neighbourhoods and economic growth by ensuring that boroughs are better equipped and can utilise the skills of planners and architects to help shape better places in their local areas.
We know that high streets are struggling and the need to make them more attractive, sustainable and enjoyable places to live in and visit is as vital as ever. Recent data from City Hall shows huge demand for greater knowledge sharing and the upskilling of existing teams as local boroughs increasingly struggle to promote built development and growth in areas across the capital. [1]
The experts, known as ‘Town Architects’, will help to build much-needed capacity within local boroughs and will directly support Chief Placeshaping Officers and Design Champions to review project proposals and help develop a strategic vision for the local area.
They have been selected from the Mayor’s diverse panel of Design Advocates to support his vision for good growth and ensure that new buildings and public spaces will benefit all Londoners by promoting quality and inclusion in the built environment. Their expertise spans a broad range of areas, including architecture, master planning, high streets, public realm, and design quality management.
London’s placeshaping capacity is central to delivering the Mayor’s Good Growth by Design principles, which seek to ensure that London’s growth is both economically and socially inclusive and sustainable. The Town Architects pilot will address this gap in capacity by working with local authorities to bolster and enhance in-house skills, knowledge, and expertise to help shape better places and promote quality and inclusion in the built environment.
Jules Pipe, the Deputy Mayor for Planning, Regeneration and the Fire Service, said: “We are pleased to be launching this pilot scheme to promote the future development of key areas in the capital.
“By drawing on the expertise of the Mayor’s Design Advocates, local boroughs will have the expertise and support they need to boost design quality to improve their high streets and public spaces and promote positive neighbourhood placemaking, helping to build a better and more sustainable London for everyone.”
Holly Lewis, Mayor’s Design Advocate and Director of We Made That, said: “I’m thrilled to have the chance to continue to support the London Borough of Hackney in my new role as Town Architect. Hackney Central is just one of many places in London experiencing rapid change, with many exciting projects underway. With the support of this programme, I look forward to the opportunity to work alongside the borough in achieving the best possible outcomes for Hackney’s diverse communities.”
Suzanne Johnston, Interim Director, Economy, Regeneration and New Homes, Hackney Council, said: “We are delighted to be working with Holly Lewis in her role as Hackney’s new Town Architect. We’re passionate about the need for good design in our built environment.
“Whether it’s promoting high quality buildings and public spaces or ensuring that Hackney Central is inclusive and easy to get around, Holly’s considerable expertise will complement the Council’s own in-house design expertise, to make sure Hackney’s buildings and public spaces work for everyone.”
Minister of Forestry, Fisheries and the Environment Dr Dion George has called for a comprehensive, outcomes-based financial model to effectively fund the global response to climate change.
“For South Africa and many other developing countries, this is vitally important, given that financing available for adaptation is lagging behind,” George said on Thursday.
The Minister was speaking at the G20 Environment and Climate Sustainability Ministers meeting in Brazil.
He said Brazil, through the G20, has seen the need to prioritise scaling-up and expediting adaptation financing and strengthening institutional capacity, through measures such as increasing the volume of adaptation finance; and strengthening capacities to access financing promptly and to implement effective adaptation programmes and initiatives.
“The impacts of climate change, desertification, biodiversity loss and pollution are severe and far-reaching and require innovative global solutions.
“We must acknowledge the centrality of the United Nations system and must continue to adhere to agreed multilateral processes, including the negotiating of outcome documents.
“We must continue to strive towards a balance of ambition and action on all three aspects of the United Nations Framework Convention on Climate Change [UNFCCC] and its Paris Agreement, namely mitigation, adaptation and the means of implementation,” George said.
According to the United Nations, the UNFCCC is a multilateral treaty adopted in 1992 to stabilise greenhouse gas concentrations “at a level that would prevent dangerous anthropogenic (human-induced) interference with the climate system”.
“Since entering into force in 1994, the UNFCCC has provided the basis for international climate negotiations, including landmark agreements such as the Kyoto Protocol (1997) and the Paris Agreement (2015),” it said.
The Paris Agreement sets long-term goals to guide all nations to substantially reduce global greenhouse gas emissions and to provide financing to developing countries to mitigate climate change, among others.
The Minister said a collaborative and comprehensive approach to maintaining the integrity of biodiversity assets and ecological infrastructure will play a fundamental role in achieving various social and economic development objectives.
“We are committed to increase economic incentives for nature conservation, restoration and sustainable use of biological resources, with a focus on Payment for Ecosystem Services as a market-based instrument.
“With regards to our oceans, South Africa with over 3 000 kilometres of coastline, has jurisdiction over one of the world’s largest exclusive economic zones, spanning the Atlantic, Indian and Southern Oceans. This represents a significant Oceans Economy asset for current and future generations,” the Minister said.
South Africa has adopted the Marine Spatial Planning legislation and remains committed to the sustainable regulated use of our fishing resources and the active prevention of illegal fishing activity.
The legislation intends to provide a framework for marine spatial planning in South Africa and to provide for institutional arrangements for the implementation of marine spatial plans and governance of the use of the ocean by multiple sectors, among others.
South Africa also remains committed to the Inter-governmental Negotiating Committee process to develop an international agreement of a legally binding instrument on plastic pollution, including in the marine environment.
“We are supportive of the work done by the G20 on Waste and Circular economy and are keen to take forward the outcomes to further develop an inclusive Circular Economy.
“South Africa will continue to contribute its best effort to find solutions for these global environmental complexities,” the Minister said. – SAnews.gov.za
MORE AFFORDABLE houses were built in Dundee last year than private homes, according to the latest figures. The annual Dundee Housing Land Audit for 2024, revealed that 483 homes were completed, 58% of which were for social rent. Steven Rome, convener of Dundee City Council’s fair work, economic growth and infrastructure committee said: “It has been another positive year for house building completions. “The Housing Land Audit is a fascinating insight into the city’s economic progress, and I would urge anyone who has an interest to get involved with the consultation.” Lynne Short, depute convener of Dundee City Council’s neighbourhood regeneration, housing and estate management committee added: “New housing is the foundation of what we need to do to help make Dundee a more attractive place to live and work and only by working across private, public and social housing will we deliver for the city.” The annual audit provides a source of information which is important to the council in its work monitoring the Dundee Local Development Plan, representing a factual statement of land supply within Dundee City Council’s boundary up until March 31, 2024. This year’s audit has found: During the 2023/2024 period of the audit there were 483 housing units completed; the 483 completions comprise of 282 units (58%) of affordable housing and 201 (42%) private housing. This is the highest level of affordable housing completions in Dundee since 2006; and 83% of the completions in 2023/24 were on brownfield land and 17% were greenfield completions. Following the consultation period, comments from stakeholders will be reviewed and any amendments made as necessary before the Dundee Housing Land Audit 2024 is finalised and published. This year’s draft Dundee Housing Land Audit has now been published for a period of consultation until 23 October 2024 you can find it at https://www.dundeecity.gov.uk/service-area/city-development/planning-and-economic-development/dundee-housing-land-audit
Households’ financial investment increased at higher annual rate of 2.1% in second quarter of 2024, after 1.9% in previous quarter
Non-financial corporations’ financing grew at higher annual rate of 1.0% (after 0.8%)
Non-financial corporations’ gross operating surplus decreased more slowly at annual rate of ‑3.5% (after -4.2%)
Chart 1
Household financing and financial and non-financial investment
(annual growth rates)
Sources: ECB and Eurostat.
Data for household financing and financial and non-financial investment
Chart 2
NFC gross-operating surplus, non-financial investment and financing
(annual growth rates)
Source: ECB and Eurostat.
Data for NFC gross-operating surplus, non-financial investment and financing
Households
Household gross disposable income increased in second quarter of 2024 at a lower annual rate of 4.8%, after 6.1% in the first quarter of 2024. The compensation of employees grew at a lower rate of 5.5% (after 6.0%), and gross operating surplus and mixed income of the self-employed increased at a lower rate of 4.6% (after 5.9%). Household consumption expenditure grew at a lower rate of 3.1% (after 4.2%).
The household gross saving rate increased to 14.9% in the second quarter of 2024, compared with 14.5% in the previous quarter.
Household gross non-financial investment (which refers mainly to housing) decreased at a lower annual rate of -1.7% in the second quarter of 2024 (after -3.2% ). Loans to households, the main component of household financing, increased at an unchanged rate of 0.5%.
Household financial investment increased at a higher annual rate of 2.1% in the four quarters to the second quarter of 2024, after 1.9% in the four quarters to the first quarter of 2024. Among its components, currency and deposits grew at a higher rate of 2.3% (after 1.5%), while investment in debt securities increased at a lower rate (28.1% after 40.2%). Investment in shares and other equity grew at a higher rate of 0.3% (after 0.0%). This was due to unlisted shares and other equity decreasing more slowly (-0.3% after -0.9%), while investment fund shares grew at a broadly unchanged rate (1.9%). Investment in listed shares decreased faster (-0.9% after -0.6%). Life insurance decreased at a broadly unchanged rate (-0.2%) and pension schemes grew at a lower rate (2.2% after 2.4%).
Household net worth increased at an annual rate of 2.8% in the second quarter of 2024, after 2.1% in the previous quarter. Net financial and non-financial assets grew due to valuation gains in addition to investments. Housing wealth, the main component of non-financial assets, increased (0.5%) after decreasing in the previous quarter (-1.3%). The household debt-to-income ratio decreased to 83.1% in the second quarter of 2024 from 87.5% in the second quarter of 2023.
Non-financial corporations
Net value added by NFCs grew at a higher annual rate of 1.6% in the second quarter of 2024 (after 1.2% in the previous quarter). The negative growth rate of gross operating surplus decreased (-3.5% after -4.2%), while the growth rate of net property income – defined in this context as property income receivable minus interest and rent payable – increased (4.2% after 0.7%). As a result gross entrepreneurial income (broadly equivalent to cash flow) decreased at a lower rate of -1.3% (after ‑3.7%).[1]
NFCs’ gross non-financial investment decreased at a faster annual rate of -7.0% (after -5.8% in the previous quarter).[2] NFCs’ financial investment grew at a higher rate of 2.2% (after 1.9%) in the four quarters to the second quarter of 2024. Among its components, currency and deposits grew at a higher rate (2.5% after 0.4%), while loans granted increased at a lower rate (3.8% after 4.2%). Investment in shares and other equity grew at an unchanged rate of 1.6%.
Financing of NFCs increased at a higher annual rate of 1.0% (after 0.8%), as financing via debt securities (3.1% after 2.2%), shares and other equity (0.8% after 0.4%) and trade credits (2.1% after 0.4%) all grew at higher rates. Loan financing grew at a lower rate of 0.8% (after 1.2%).[3]
NFCs’ debt-to-GDP ratio (consolidated measure) decreased to 66.7% in the second quarter of 2024, from 69.2% in the same quarter of the previous year; the non-consolidated, wider debt measure decreased to 128.2% from 131.3%.
For queries, please use theStatistical information requestform.
Notes
This statistical release incorporates revisions to the data since the first quarter of 2020.
Revisions of the entire time series may be more pronounced in this and the following release as in 2024 EU countries implement a benchmark revision in national accounts statistics. For further information see also: https://ec.europa.eu/eurostat/web/esa-2010/data-revision.
The annual growth rate of non-financial transactions and of outstanding assets and liabilities (stocks) is calculated as the percentage change between the value for a given quarter and that value recorded four quarters earlier. The annual growth rates used for financial transactions refer to the total value of transactions during the year in relation to the outstanding stock a year before.
The euro area and national financial accounts data of non-financial corporations and households are available in an interactive dashboard.
Hyperlinks in the main body of the statistical release are dynamic. The data they lead to may therefore change with subsequent data releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.
The Department of Human Settlements intends to partner with traditional leaders to identify disaster-resilient areas suitable for human settlements development, using geo-mapping.
Minister Mmamoloko Kubayi made the announcement at meeting held with Members of Executive Councils (MINMEC) responsible for Human Settlements across the country on Thursday.
Kubayi said the collaborative initiative with traditional leaders aims to enable traditional leaders to identify safe land parcels for settlement purposes and avoid disaster-prone areas in vulnerable provinces.
She said the department intends to pilot this approach in rural KwaZulu-Natal and Limpopo Provinces, paving the way for proactive disaster mitigation and sustainable human settlements.
“By leveraging geo-mapping technology, the department aims to inform decision makers to make better land allocation decisions, ensuring the safety and well-being of communities. We cannot be chasing after or reacting to disasters.
“We must be proactive and put measures in place to mitigate future disasters. Climate change is upon us, and we should be better prepared and be able to respond accordingly,” Kubayi said.
The Minister convened the meeting with the MECs, focusing on the 2024/2025 human settlements priorities.
This was the second meeting in the seventh administration included the Mayors and Members of Mayoral Committees (MMCs) for Human Settlements in metropolitan municipalities and representatives from the South African Local Government Association (SALGA) to tackle key critical areas.
These include prioritising vulnerable groups in housing allocation, the Title Deeds Restoration Programme, housing for military veterans, emergency housing, and an update on the Human Settlements White Paper.
The meeting discussed the finalisation of the White Paper and MINMEC was informed that extensive consultations have been undertaken to ensure that all sectors of the community took part in shaping the new policy.
Approved by Cabinet in 2023 for public consultation, the draft White Paper seeks to address the prevailing gaps and inconsistencies in the housing and human settlements sector by responding comprehensively to contemporary sector reforms.
The meeting heard that sectors including NGOs, civil society, labour, academics, developers and contractors, and identified government departments were consulted.
The draft White Paper will be presented to Cabinet for approval, and once approved, a nationwide awareness campaign will be launched to educate the public on the policy’s key points through various media channels.
The Minister also underscored the importance of building integrated communities including rural areas, saying human settlements should be where people are, feel safe and have access to economic opportunities and social amenities.
“Accordingly, the government has availed resources to build social amenities in rural areas including community halls and other facilities to encourage development within the communities,” the Minister explained.
Assisting those affected by disasters
On emergency response to people affected by disasters, MINMEC welcomed a briefing on the Emergency Housing Framework developed to ensure immediate response to people affected by disasters.
MINMEC stressed the need to clarify roles and responsibilities since the national department has assumed responsibility.
The meeting adopted a proposal outlining disaster response protocols, dividing responsibilities between the National Department of Human Settlements, provinces, and metros based on disaster severity.
“Significant and severe disasters, affecting 51 to 100 or more households, will be jointly responded to by the National Department and provinces/metropolitan areas, while minimal and minor disasters, impacting 1 to 50 households, will be addressed by provinces working with metros,” Kubayi said.
In response to disasters, the Emergency Housing Guidelines provide four key interventions, and these include restoration, rebuilding, relocation, and repairs.
MINMEC emphasised the need to address historic disasters that occurred from 2019 to April 2024, which have affected numerous households, with estimated damages totalling R1 billion. – SAnews.gov.za
News Release – DOH Alerts Public to ANSWERS Brand Dog Food Recall Due to Potential Salmonella and Listeria Monocytogenes Contamination
Posted on Oct 3, 2024 in Latest Department News, Main, Newsroom
DEPARTMENT OF HEALTH
KA ʻOIHANA OLAKINO
JOSH GREEN, M.D. GOVERNOR
KE KIA‘ĀINA
KENNETH S. FINK, MD, MGA, MPH DIRECTOR
KA LUNA HO‘OKELE
DOH ALERTS PUBLIC TO ANSWERS BRAND DOG FOOD RECALL DUE TO POTENTIAL SALMONELLA AND LISTERIA MONOCYTOGENES CONTAMINATION
FOR IMMEDIATE RELEASE October 3, 2024 24-132
HONOLULU — The Hawaiʻi State Department of Health (DOH) Food and Drug Branch (FDB) is alerting residents to a recall issued by Lystn, LLC for certain lots of raw dog food products because of potential Salmonella and Listeria monocytogenes contamination. These products were sold directly to consumers online and through local boutique pet stores. The FDB is following up with local pet stores to ensure that the recalled products are no longer available for sale.
Salmonella and Listeria monocytogenes can affect animals eating the products and there is risk to humans handling contaminated pet products, especially if they have not thoroughly washed their hands after contact with the products or any surfaces exposed to these products.
Pets do not always display symptoms when infected with Salmonella, but signs can include vomiting, diarrhea (which may be bloody), fever, loss of appetite and/or decreased activity level. If your pet has these symptoms, consult a veterinarian promptly. You should also be aware that infected pets can shed the bacteria in their feces without showing signs of being sick.
Listeria monocytogenes can cause listeriosis, a serious and sometimes fatal infection in pets that eat Listeria-contaminated food. Listeriosis illnesses in pets are rare, and infected pets may display symptoms including mild to severe diarrhea, anorexia, fever, nervousness, muscular and respiratory issues, miscarriage, depression, shock and death. Pets exposed to contaminated food can also be asymptomatic. Infected pets, even those without symptoms, can transfer Listeria monocytogenes through their feces and saliva into the home environment and to people and other pets in the household. If your pet has eaten the recalled product(s) identified as below, please contact your veterinarian immediately.
People can become infected with Salmonella and/or Listeria monocytogenes illness by handling the contaminated products, having contact with pets that have eaten the contaminated products, and/or having contact with surfaces that have touched the contaminated food, such as bowls, utensils or countertops. Risk of illness increases if people do not thoroughly wash their hands after handling the food or having contact with their pet, or by not thoroughly cleaning contaminated surfaces. Risk of illness also increases for those who are very young, very old, or have weak immune systems.
People infected with Salmonella can develop diarrhea, fever and abdominal cramps. Most people recover without treatment, but in some people, the diarrhea may be severe enough to require hospitalization. In these patients, the Salmonella infection may spread from the intestines to the blood stream and then to other body sites unless the person is treated promptly. Consult your health care provider if you have symptoms of Salmonella infection.
Listeria monocytogenes can also cause listeriosis in people, a disease that can cause miscarriages and stillbirths. Healthy individuals may suffer symptoms such as fever, severe headache, muscle aches, stiffness, nausea, abdominal pain and or diarrhea. Although people can develop listeriosis up to two months after exposure, symptoms will usually start within several days from exposure, often with diarrhea. Listeriosis may be treated with antibiotics. Contact your health care provider immediately if you are exhibiting symptoms after having been exposed to any of the recalled products.
To date, there have been no reports of illness or adverse events attributed to the recalled products. The FDB advises consumers to check for the products listed below by “best used-by date” (BUBD) and do not feed the recalled product to pets or any other animals. Use gloves — do not touch the food product with bare hands — and seal the contaminated food in a plastic trash bag and dispose to make it inaccessible to children, pets and wildlife. Areas that may have touched the contaminated product should be sanitized.
If you have any recalled products and would like a refund, please submit a receipt, product pictures and the retailer’s information to [email protected]. For additional inquiries, you can also email ANSWERS Pet Food at the same address.
Product descriptions and relevant information for the recalled products are listed below:
Product Name
Size
Best Used-By Date (BUBD)
Representative Image
ANSWERS Pet Food Detailed Beef Formula for Dogs/856554002102
4 pounds (half-gallon carton)
May 6, 2026
ANSWERS Pet Food Straight Beef Formula for Dogs/856554002072
4 pounds (half-gallon carton)
Jan. 31, 2026
ANSWERS Pet Food Straight Chicken Formula for Dogs/856554002065
NEW YORK, Oct. 04, 2024 (GLOBE NEWSWIRE) — Biz2Credit will host U.S. Representatives Nick LaLota (R, NY-01) and Sylvia Garcia (D, TX-29) to discuss the state of the small business economy in 2024 and the actions that Congress is taking to support business owners. The virtual forum will take place on Tuesday, October 8, at 2:00 p.m. (EDT) and will explore topics including:
Challenges for small business owners in 2024 and looking into 2025.
Initiatives the Federal government is considering next that may provide further economic support to American small businesses.
How a President Harris or President Trump will address small business issues.
Preparing for what’s coming next with Biz2Credit’s review of business financing options as 2024 closes and amid the recent interest rate cut by the Federal Reserve.
Biz2Credit’s research and insights on primary data from small business owners.
This online forum will give business owners a chance to hear from Rep. LaLota, a member of the House Committee on Small Business, and Rep. Garcia, who has helped provide crucial aid to Texas small businesses. They will discuss the small business environment in their districts, provide insights on how the Federal government and private industry are collaborating to help entrepreneurs, and respond to questions from constituents and business owners. To register for this event, click here.
“We are thrilled to have Rep. LaLota and Rep. Garcia join our online Town Hall and discuss their positions on small business, the current economic environments in their home districts, and how Washington can best support entrepreneurial growth,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.
U.S. RepresentativeNick LaLota(R, NY-01) was sworn into office in January 2023. Inspired by his family’s history of service, he graduated from the U.S. Naval Academy and reached the rank of Lieutenant. Later, he earned his MBA at Hofstra University’s Zarb School of Business and his J.D. from Hofstra’s Maurice A. Deane School of Law. As a member of the Amityville Board of Trustees, he focused on reducing taxes and improving services. Today, in Congress, he advocates for lower taxes, energy independence, and the protection of constitutional freedoms. As a member of the House Committee on Small Business, he serves as chair of the Subcommittee on Contracting and Infrastructure and is a member of the Subcommittee on Economic Growth, Tax, and Capital Access.
“I’m excited to join the Biz2Credit Small Business Town Hall to tackle the challenges and opportunities our small businesses face,” said Rep. LaLota. “As a proud member of the House Small Business Committee, I know just how crucial these businesses are to our economy. I’ll keep pushing for policies that strengthen small businesses as the backbone of America!”
U.S. RepresentativeSylvia R. Garcia(D, TX-29) was sworn into Congress in January 2019 and thereby became the first Latina to represent Texas in her district. She graduated from Texas Woman’s University with a degree in social work and political science, and later graduated from the Thurgood Marshall School of Law at Texas Southern University. Rep. Garcia has served as a social worker and a legal aid lawyer and later as Presiding Judge of the Houston Municipal System, Houston City Controller, and Harris County Commissioner. After serving in the Texas State Senate, she was elected to represent Texas’s 29th Congressional District 29 and became the first Hispanic member of the Houston Congressional Delegation and one of the first two Latinas to represent Texas in the Congress. She has long been an advocate for working families and economic development.
“Small businesses are the backbone of our communities and the start of so many American Dreams. Women and minority entrepreneurs, especially in the Latino community, have been driving our recovery with strength and resilience,” said Rep. Garcia, who serves as the Vice Ranking Member of the House Financial Services Committee. “It’s our job in Congress to ensure they have the tools and resources to keep thriving. I’m excited to join Rep. LaLota and Biz2Credit to talk about how we can make that happen.”
About Biz2Credit Founded in 2007, Biz2Credit has helped thousands of companies access more than $10 billion in small business financing. The company is expanding its industry-leading Biz2X® technology in custom digital platform solutions for banks and other financial institutions, investors, and service providers. Visit http://www.biz2credit.com, Instagram, Facebook, and X (formerly Twitter).
Source: United Kingdom – Executive Government & Departments
The Secretary of State has reappointed John Mothersole as the England Committee Chair and Kate Still as the Scotland Committee Chair for a second term of two years commencing on 14 May 2024.
John Mothersole
John Mothersole has held senior local government posts in UK cities including London, most recently as Chief Executive of Sheffield City Council. Since standing down from that post in December 2019 after 11 years, John has taken on a series of non-executive roles which now include Chair of The Sheffield College, trustee of a community care charity and advisory roles with companies involved in regeneration and environment. He was also an assessor for the Grenfell Tower Public Inquiry, a role that concluded with the publication of the final report in September 2024. Prior to being selected as Chair of the National Lottery Community Fund England Committee John was a member of that committee.
John has been heavily involved in the policy agenda for UK cities through the Core Cities network, the Northern Powerhouse initiative and with Government in securing city and city region devolution deals and participating in trade missions.His early career was in the arts, primarily in London and the North-East, and he sees a highlight of that part of his career being the reopening of the Roundhouse in London which enabled its subsequent redevelopment.
Kate Still
Kate is currently conducting the Independent Review of Community Learning and
Development across Scotland on behalf of the Scottish Government. She was a Board
member of ERSA for many years, Chair of Employment Support Scotland and a Fellow of
the Institute of Employability. Kate started her career as a teacher after completing an MA
(Hons) in Politics at Glasgow University.
She has over 25 years of relevant experience in delivery of education, apprenticeships, skills, employability and community enterprise and regeneration programmes across multiple sectors, including 15+ years in the Charity sector. Kate has a passionate desire to make a difference coupled with the drive to achieve impact on issues of poverty, equality and diversity and social justice. Kate has held strategic leadership roles at EU and UK levels including Management of EU aid programmes to Central and Eastern Europe. A former Board Member of Strathclyde European Partnership, she completed her MPhil in European Policy research at Strathclyde University in 2011.Kate has held Director roles previously with the Prince’s Trust, Rathbone and Wise Group.
Remuneration and Governance Code
These positions are remunerated at £24,000 per annum. These appointments have been made in accordance with the Cabinet Office’s Governance Code on Public Appointments. The appointments process is regulated by the Commissioner for Public Appointments. Under the Code, any significant political activity undertaken by an appointee in the last five years must be declared. This is defined as including holding office, public speaking, making a recordable donation, or candidature for election. John Mothersole and Kate Still have not declared any significant political activity.
The National Disaster Management Centre (NDMC) has called on all South Africans to participate in this year’s International Fire Safety and Prevention Week, which will be observed from 6 to 12 October 2024.
This global event aims to raise awareness of fire prevention and safety practices, encouraging individuals, communities and businesses to take proactive steps to reduce the risk of fires and protect lives.
According to the organisation, South Africans can pledge their support by learning more about fire safety, practising safe fire prevention measures at home and in the workplace, and backing local fire services.
During the International Fire Safety and Prevention Week, fire services across the country will host a variety of awareness campaigns and community outreach activities to educate the public about fire safety.
“These efforts will include school visits, fire drills, safety demonstrations, and information sessions designed to help communities better understand how they can prevent fires and respond effectively in an emergency,” the NDMC said.
Meanwhile, the NDMC has also taken the time to recognise the heroic work done by the brave men and women of fire services across the country, both public and designated services, who are at the forefront of fire prevention and emergency response.
“Their dedication to protecting lives and property, often in dangerous and challenging conditions, deserves the highest praise.”
The organisation has been working closely with all provinces and local municipalities to strengthen fire safety and prevention measures across the country.
Since 2016, according to NDMC statistics, more than 118 municipalities have been assessed, with more than 500 fire safety practitioners trained in fire risk assessment and safety strategies through partnership with the Fire Protection Association of South Africa (FPASA).
“In line with the Fire Services White Paper, fire services are encouraged to pursue the implementation of an integrated fire risk management strategy, as it is critical that collectively we, as a nation, focus on fire prevention and preparedness together,” the statement read.
Fire is preventable, and the NDMC urges everyone to take simple steps, such as:
• Educating communities to build their informal dwellings with a minimum gap of three meters between them to reduce the risk of fire spreading quickly. • Ensuring that the spaces between these buildings are kept clear of debris and always maintain open and accessible roads leading to the homes, so that emergency vehicles can reach them without delay. • Ensuring that homes are equipped with smoke detectors and fire extinguishers. • Creating and practising fire escape plans. • Being mindful of potential fire hazards, such as unattended cooking or faulty electrical wiring. • Educating children, family members, and the frail and elderly about fire safety measures. – SAnews.gov.za
Source: United Kingdom – Executive Government & Departments
YJB Chief Executive, Steph Roberts-Bibby reflects on her visit to the UK’s first secure school and its unique focus on education, healthcare and wellbeing.
The secure school’s education centre.
Back in May, I joined Minister Argar and the Youth Custody Service to visit the UK’s first secure school and explore its revolutionary approach to youth justice. As we toured the site, what stood out to me was an unmistakeable feeling of care.
The Oasis Restore secure school has now opened its doors and has started to welcome its first children.
What does the secure school offer?
The school, which was a former secure training centre, felt worlds away from my experiences as a prison officer at Feltham young offender’s institution (YOI) in 1997 and other adult prisons throughout my career, with more similarities to university accommodation than custody. The environment felt compassionate and child-orientated, nurturing children to change, grow and learn.
Security was built into the infrastructure without feeling oppressive, but still appropriately secure – there were no bars on the windows, no keys or locks, only wristband-operated fobs. It was these subtle differences that made me leave Oasis Restore feeling hopeful.
The bedrooms were calming and quiet with private ensuite bathrooms and built-in computer screens for doing homework and watching TV. The attention to detail throughout was evident. There was artwork on the walls, and soft blankets and sofas in the shared living spaces. These are incredibly important to help children learn to cohabit and foster a sense of community and responsibility.
Oasis Restore provides family rooms with kitchens so that children can cook and eat with their families when they visit. Our guide Dr Sadie pointed out that this can be very culturally important when living away from home, not least for successful rehabilitation but also for rebuilding existing family relationships. Siblings often visit with families, and evidence shows that intergenerational and sibling offending is common, so having a space promoting learning, togetherness and care is key to prevent further offending among families.
A shared living area in one of the flats at the secure school.
The site boasts brand-new state-of-the-art facilities, including 3D printers in the design technology classroom, a hair and beauty salon and even music recording booths. While other sites do provide similar facilities, never had I seen them at this standard before. These facilities provide a wide range of educational opportunities, including core academic subjects and vocational training in areas like barbering, drama and catering, that children might otherwise have never been exposed to.
Therapeutic sensory rooms are also woven throughout the site. These supportive spaces have soft beanbags and padded walls to support children to regulate their emotions during the day and take time out when needed.
Looking to the future
As the tour was finishing, I stopped to speak to a restorative practitioner who was showing some of the creative activities on offer for children. She explained that she would be supporting children through every part of their day at Oasis Restore, be that walking with them to the education centre in the morning, or just being there to chat.
When I asked her what part of the new school she was most looking forward to, she said, “I’m just excited for the children to come now.” It’s clear that what makes this approach to youth custody different isn’t just the holistic model or the modern facilities; it’s the people.
Strong relationships between staff and children are at the heart of the Oasis model, to truly understand a child’s journey. Oasis Restore’s team are highly trained and committed to providing responsive, psychologically informed and developmentally appropriate models of support and education for children in their care. Relational practice is also crucial, with staff committed to loving children like their own, and this shone through from the practitioners I spoke with at the school.
The Oasis secure school is a prime example of how custody for children can and should be done: care-focused, needs-led and with children at the heart. This model inspires hope for the future about how we can best support children to go on to live crime-free lives and make our communities safer places with fewer victims.
What is a ‘secure school’?
The first-of-its-kind secure school in Rochester houses children who are on remand or sentenced to custody. But what exactly is a secure school?
Oasis Restore places education and healthcare at the heart of its approach to support children and steer them away from reoffending. This unique model was recommended by Charlie Taylor, the HM Chief Inspector of Prisons, who has long advocated for a different approach to children in custody. In 2016, prior to becoming Chair of the Youth Justice Board from 2017-2020, he conducted an independent review of the youth justice system
The Oasis Restore philosophy
At the Youth Justice Board, we have long advocated for a rethink of how children are cared for in custody. This is because our evidence tells us that to be effective, secure settings must be small and replicate a safe family home environment with a sense of community and trust. They should also have excellent healthcare and education provisions.
The Oasis Restore model mirrors this, and I was pleased to see that these values shine through when visiting the school. Oasis Restore is guided by the understanding that children are different from adults. Its philosophy ensures that each child’s voice is heard and valued, and opportunities are created for them to contribute within a school community.
In the words of the school: “Oasis Restore is a secure school enabling young people to live their best lives, through education, wellbeing, and hope.”
The secure school gives children the opportunity to make positive choices about their futures upon release from custody. By equipping them with essential skills and education, the school not only benefits children but hopes to reduce crime rates and make our communities safer places to live with fewer victims.
Who is the Oasis Restore secure school for?
Although the number of children in custody is the lowest on record since records began (an average of 440 children were in custody between 2022-23), we know that the children who remain in the secure estate are vulnerable and often have complex needs.
Lower education levels are also likely. The same dataset also found that young adults who receive custodial sentences have lower levels of educational attainment, with only 37% achieving the expected level of English and maths by the end of key stage 2 compared with 53% of peers with non-custodial sentences.
The secure school will care for children aged between 12-18-years-old who are on remand or sentenced to custody. It will be home to up to 49 children at any one time, both girls and boys. Every child will be enrolled in formal education or training and encouraged into further study or employment on release. This innovative new model of care will promote rehabilitation and contribute to positive outcomes for children, leading to fewer victims and safer communities.
The Discovery-i education centre at the secure school.
What makes Oasis Restore different?
The Oasis Restore secure school is unique in its approach and Steve Chalke, founder of Oasis Charitable Trust, said to visitors at the opening event: “From the day children arrive, the focus is on preparing them for the day they leave.”
The school has been co-designed with children working with youth justice services and will be registered as both an academy and a secure children’s home. It will be inspected by Ofsted and held to the same standards as other schools across England.
While the current secure estate is not fit for purpose, the secure school offers a Child First redesign. It’s an innovative, holistic approach to custody for children within a secure setting. This is what distinguishes the secure school from existing youth custody provisions and sends a message to children that they are valued; something many may not have experienced growing up.
I spoke to a colleague from NHS England during the visit, a key partner in the development of the school, and heard about just some of the wellbeing services on offer, including advice on dieting, smoking, body image, as well as wider mental health and physical health support.
Education at the school is based on the reflective practice model, with a therapeutic approach to learning. It is recognised that many of the children who will live at the secure school are likely to be disengaged from education and so staff are specially trained to focus on one-to-one support and children’s individual needs, which their curriculum will be tailored around.
A place of hope
The secure school is a place where children can feel safe and be supported by well-trained staff who are committed to developing positive purpose. We at the YJB support and advocate this approach in line with the evidence base. I echo the words of Ed Cornmell, Executive Director of the Youth Custody Service, when he says the school represents a “revolutionary change for the youth justice system.”
Brazil’s cancer drug clinical trial landscape has been evolving rapidly in recent years, positioning the country as an increasingly important player in global oncology research. As the largest country in Latin America, with a population of over 215 million and a diverse genetic makeup, Brazil offers unique opportunities for conducting clinical trials for conducting clinical trials in oncology. The Brazilian clinical trial environment is characterized by a mix of private and public health systems, providing researchers with access to a wide range of patient population. This diversity is particularly valuable in cancer research, where genetic and environmental factors can significantly influence treatment outcomes. Major urban cities like Rio de Janeiro, São Paulo and Porto Alegre have become hubs for clinical research, housing state-of-the-art medical facilities and research institutions.
One of the key drivers of Brazil’s growing prominence in cancer drug trials is the country’s high cancer burden. According to estimates, Brazil recorded around 630,000 new cancer cases in 2022, which is estimated to cross 750,000 by 2030. This high incidence rate, coupled with the need for innovative treatments, has created a song impetus for conducting oncology trials in the country. Breast, prostate, colorectal and lung cancers are among the most common types, aligning with global trends and research priorities.
The regulatory landscape for clinical trials in Brazil has seen significant improvements in recent years. The Agência Nacional de Vigilância Sanitária (ANVISA) has streamlined i8ts approval processes, reducing timelines for trial initiation. The creation of the Rede Nacional de Pesquisa Clínica (RNPC) has also facilitated the convict of multicenter trials across the country. These regulatory advancements have made Brazil more attractive to international pharmaceutical companies and research organizations looking to conduct global trials.
Brazil’s participation in international collaborative research networks has further enhanced its position in cancer drug trials. The country is increasingly involved in global phase III trials, allowing Brazilian patients access to cutting-edge experimental therapies this involvement not only contributes to global drug development but also helps build local expertise and infrastructure for conducting complex oncology trials.
The Brazilian government has also played a role in fostering cancer research through initiatives like the National Policy for Cancer Care (PNAO). This policy aims to improve cancer care across the country and includes provisions for supporting clinical research. Additionally, public-private partnerships have emerged as a key strategy for advancing cancer drug development in Brazil, combining government resources with private sector expertise and funding.
However, challenges remain in Brazil’s clinical trial landscape. Disparities in healthcare access and quality between urban and rural areas can affect patient recruitment and trial conduct. Language barriers and the need for translation of trial materials can also add complexity to international studies. Moreover, navigating the Brazilian regulatory system, despite improvements, can still be complex for foreign sponsors unfamiliar with local processes.
Another significant aspect of Brazil’s cancer drug trials landscape is the focus on biosimilars and generics. As patents on several key oncology drugs expire, Brazil has become an important market for biosimilar development and testing. This aligns with the country’s efforts to increase access to cancer treatments and reduce healthcare costs.
Looking ahead, Brazil’s cancer drug clinical trial landscape shows promise for continued growth and innovations. The country’s large and diverse patient population, improving regulatory environment, and growing expertise in oncology research make it an attractive destination for global cancer drug development. As Brazil continues to invest in its research infrastructure and capabilities, it poised to play an increasingly significant role in advancing cancer treatments on a global scale.
The Lebanese authorities, communities and humanitarian agencies are struggling to shelter and provide the necessities of life to over one million people fleeing Israel’s airstrikes and invasion to the south, Oxfam said today.
Oxfam is working with local partners in Lebanon and alongside other aid agencies as part of the government’s humanitarian response plan following Israel’s invasion of Southern Lebanon and aerial bombardment.
Oxfam assessments in shelters across Lebanon have found people most need mattresses, bedding, and cooking and sanitation items. Women also need sanitary pads, towels, and underwear. Oxfam and partners have started distributing some of this aid as well as water.
“People are coming to us traumatized. Most of them have lost their houses and relatives. Some of them are scared because of the scale of bombardment as they were fleeing.”
Gheith Bittar, Executive Director of SHIFT
Oxfam partner SHIFT – Social Innovation Hub
Gheith Bittar, Executive Director for Oxfam partner SHIFT – Social Innovation Hub, said more displaced people are arriving by the day and he fears shelters may buckle under the strain.
“The shelters are not ready to host the number of displaced people we are taking on and 629 are already full. They are public schools that are not equipped to be shelters and we are facing problems. For example, we don’t have hot water for showers. We will get to a point where we won’t be able to cope. Without funds, we cannot sustain our support to the shelters. The ground invasion will only increase the number of refugees, and we have already seen an increase in the number of displaced people on a daily basis with the continuous bombardment. The situation will only get worse as winter approaches.
“People are coming to us traumatized. Most of them have lost their houses and relatives. Some of them were scared because of the scale of bombardment as they were fleeing, and many others because of their fear of the unknown coming to a new city. People are suffering, they have many, many, issues to think about,”
Oxfam says without a ceasefire, the greenlight by Israel to a ground invasion in southern Lebanon will likely lead to a further escalation of the conflict and fighting, that will cause even more destruction of communities and inflame an already volatile region.
“The ground invasion and bombardment that includes Beirut and the southern suburbs will create a serious challenge for the humanitarian system in a few short days. People are being forced to flee with little to no notice, and often having to leave everything behind to shelters that are inadequate or sharing crowded homes with few essential supplies. None know when they can return. Without a ceasefire, the number of people desperately in need will only grow, as will their needs. The shelter system is set to collapse if there is no peace on the horizon,” said Oxfam’s Lebanon Country Director, Bachir Ayoub.
Oxfam is appealing for donations globally. “The needs of people in Lebanon who’ve been injured, traumatized and displaced, in fear of what the future might hold for them, are already huge. No other solution other than a ceasefire can alleviate the crisis they are facing,” Ayoub said.
There must be an end to this violence. All parties must stop fighting. We need safe space to get people the aid they need,” he said.
Source: United Kingdom – Executive Government & Departments
UK Statement for Item 9 General Debate on racism, racial discrimination, xenophobia, and related forms of intolerance. Delivered by the UK’s Human Rights Ambassador, Eleanor Sanders.
Location:
Geneva
Delivered on:
(Transcript of the speech, exactly as it was delivered)
Thank you Mr Vice President,
The UK condemns all forms of racism, racial discrimination and xenophobia and related forms of intolerance. We remain steadfast in our commitment to combatting it, at home and abroad.
We celebrate Black History Month this October in the UK. That is a moment to reflect on the impact of black heritage and culture on our country and our place in the world. It’s a chance to celebrate the enormous contribution of black Britons in all walks of life. It is also a chance for us to acknowledge some of our country’s most painful history.
As in all societies, challenges persist. Ongoing efforts to address racial and ethnic inequalities are essential to ensure better outcomes for all communities.
The UK stands firmly against the scourge of racism and is committed to taking further meaningful action domestically and internationally to shape a better society for all. This includes bringing forward new legislation to tackle persistent racial inequalities. We are dedicated to fostering a society where everyone, regardless of race, ethnicity or background, can thrive and live a life free from discrimination and intolerance.
In the dynamic realm of immunotherapy, CD70 inhibitors have emerged as promising candidates, opening a new frontier in precision medicine. The immune system is subject to intricate modulation through various checkpoints, with CD70, a multifaceted cell surface molecule, playing a pivotal role in influencing immune responses and cellular interactions. The inhibition of CD70 presents a novel avenue for therapeutic intervention, and this article serves as a comprehensive guide to the burgeoning landscape of CD70 inhibitors.
From facilitating T-cell activation to maintaining immune homeostasis, CD70 is integral in shaping immune responses. However, its dysregulation has been implicated in numerous diseases, rendering it an intriguing target for therapeutic modulation. The history of CD70 inhibitors sheds light on the molecule’s multifaceted roles in both health and disease, alongside the development of targeted pharmacological agents aimed at modulating its activity. The groundwork for CD70 inhibitors began with the identification of CD70 as a transmembrane glycoprotein belonging to the tumor necrosis factor (TNF) superfamily. Initially recognized for its role in T-cell activation, CD70’s expression on activated immune cells marked a significant milestone in immunology.
Research throughout the 1990s delved into the immunomodulatory functions of CD70, revealing its involvement in T-cell co-stimulation and the regulation of immune responses. The perception of CD70 as a viable therapeutic target gained momentum as its dysregulation was associated with autoimmune disorders and certain cancers. The early 2000s witnessed an intensified exploration of CD70 as a potential therapeutic target, particularly concerning cancer and autoimmune diseases. Preclinical studies involving animal models and in vitro experiments laid the foundation for investigating the efficacy of CD70 inhibition in altering immune responses and disease progression.
Advancements in biotechnology and drug development techniques during the mid-2010s facilitated the design and synthesis of CD70 inhibitors. Monoclonal antibodies and small molecules targeting CD70 emerged as promising candidates for therapeutic intervention, providing a means to selectively modulate CD70-mediated signaling pathways. The first half of the 2020s saw the initiation of clinical trials evaluating the safety, efficacy, and tolerability of CD70 inhibitors in human subjects.
Several ongoing clinical trials focus on various disease contexts, including cancer and autoimmune disorders, with the aim of translating promising preclinical findings into tangible therapeutic outcomes. One notable example is SEA-CD70, an investigational sugar-engineered antibody targeting CD70, currently undergoing clinical research for patients with myelodysplastic syndrome and acute myeloid leukemia. This phase I, open-label, multicenter, dose-finding, and dose-expansion study is designed to evaluate the safety, tolerability, pharmacokinetics (PK), and antitumor activity of SEA-CD70, either as a monotherapy or in combination with azacitidine. Sponsored by Seagen, this investigation was initiated in August 2020, and is expected to be completed by November 2026.
The development and utilization of CD70 inhibitors present several potential advantages across diverse medical contexts. CD70 is often upregulated in various cancers, promoting immune evasion; thus, CD70 inhibitors can modulate immune responses and enhance the anti-tumor activity of immune cells, particularly T cells. Inhibiting CD70 may directly affect tumor cells by reducing their proliferation and survival, potentially slowing cancer progression.
Moreover, CD70 inhibitors offer a targeted therapeutic approach by specifically addressing the dysregulated immune responses associated with CD70 expression. This precision may minimize off-target effects commonly seen in broader immunosuppressive strategies. The exploration of CD70 inhibitors represents a captivating journey into the intricate world of immunomodulation and targeted therapy. The multifaceted roles of CD70 in health and disease have catalyzed the development of inhibitors with the potential to revolutionize cancer therapy, autoimmune disorders, and beyond.
As these inhibitors advance through clinical trials, the narrative surrounding CD70 inhibition evolves with each study, providing insights into their safety, efficacy, and broader applications. The prospect of precision medicine, where tailored interventions reshape patient care, is on the horizon. Furthermore, the potential synergies with existing therapeutic modalities hint at a future where combination strategies harness the full power of the immune system against complex diseases.
Source: United Kingdom – Executive Government & Departments 3
UK Statement on racism, racial discrimination, xenophobia, and related forms of intolerance. Delivered by the UK’s Human Rights Ambassador, Eleanor Sanders.
Location:
Geneva
Delivered on:
(Transcript of the speech, exactly as it was delivered)
Thank you Mr Vice President,
The UK condemns all forms of racism, racial discrimination and xenophobia and related forms of intolerance. We remain steadfast in our commitment to combatting it, at home and abroad.
We celebrate Black History Month this October in the UK. That is a moment to reflect on the impact of black heritage and culture on our country and our place in the world. It’s a chance to celebrate the enormous contribution of black Britons in all walks of life. It is also a chance for us to acknowledge some of our country’s most painful history.
As in all societies, challenges persist. Ongoing efforts to address racial and ethnic inequalities are essential to ensure better outcomes for all communities.
The UK stands firmly against the scourge of racism and is committed to taking further meaningful action domestically and internationally to shape a better society for all. This includes bringing forward new legislation to tackle persistent racial inequalities. We are dedicated to fostering a society where everyone, regardless of race, ethnicity or background, can thrive and live a life free from discrimination and intolerance.