Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Northern Ireland Direct
Date published:
Students are urged to be aware of the dangers of fire. Fire safety advice could be one of the most important lessons for students during their time at university or college.
All students should take personal responsibility for looking after themselves and their housemates to protect them from the dangers of fire.
Living away from home, especially if it’s for the first time, can be very exciting and it’s easy to get caught up in student life and forget about fire safety.
Check your student accommodation to make sure it’s fire safe and fire safety checks should always be part of your routine.
It’s important to have a working smoke alarm fitted on each level of accommodation and to test them once a week. This will alert you and your housemates to the earliest stage of a fire, giving vital extra time to escape.
You should follow a good fire safe bedtime routine – checking a few things before going to bed can reduce the risk of fire. It only takes a minute and could save lives, so:
Also, take some time to agree a fire escape plan to make sure everyone is clear what to do in an emergency. This means knowing where the fire exits are and making sure furniture or stored items do not block them.
If there is no fire exit, plan an alternative escape route other than by the main entrance door.
You can find out more about fire safety at this link:
If you go home at weekends, make sure that accommodation is safely secured and protected from the risk of fire.
You should:
You should also check that any fire alarm system in your accommodation is working. If it is showing a fault, contact the landlord or the Estates Officer at the university immediately.
If a fire starts:
There is more information at this link:
Source: St Albans City and District
Publication date:
A technical consultation is to be held on whether a draft Local Plan for St Albans District has met all the necessary legal requirements.
The Local Plan (LP) is a blueprint for future growth and identifies land for infrastructure, employment and housing developments in the years to 2041.
It has been produced by St Albans City and District Council and has taken more than three years’ work to reach this stage.
Residents, community groups, businesses, neighbouring local authorities and other organisations have helped shape the document by contributing to previous consultations.
Numerous studies have also been undertaken to assess the impact of the proposals on the environment, transport, heritage, the Green Belt and social issues such as education and leisure.
External planning and legal experts have also helped the Council’s spatial planning team to carry out some of the detailed work and provide a detached perspective.
Councillors on the Planning Policy and Climate Committee gave approval for the next statutory procedure at its meeting on Monday 23 September.
They agreed to start what is known as the Regulation 19 Consultation to allow for public comment on the draft LP’s compliance and ‘soundness’ with national planning policies.
Chris Traill, the Council’s Strategic Director for Community and Place Delivery, said after the meeting:
This has been described as something of a technical consultation.
We are not asking people for feedback on their general views on the draft LP, but are asking whether it is in line with planning law and national planning policy.
Neighbouring councils, for instance, need to consider if we have met our duty to cooperate with them while producing the draft LP.
We have a responsibility as a Council to deliver an LP that conforms with planning law and national policies and we are confident that we have done so. This consultation, though, will put that to the test, allowing for any concerns to be raised.
The consultation will start on Thursday 26 September and continue for six weeks to Friday 8 November.
In the meantime, Full Council will decide whether to approve the draft LP at its meeting on Wednesday 16 October.
Following this, the Planning Policy and Climate Committee on Thursday 28 November will consider a report on the Regulation 19 consultation feedback.
Provided the draft LP was approved by Full Council and it is considered to be in accordance with national policy, it will then be submitted to the Government for examination by an independent planning inspector.
Previously, it was intended to submit a draft LP in March next year. The timetable was brought forward to avoid potential changes to national planning policy that could have meant starting the whole LP process again from scratch.
Ms Traill added:
We feel it is very much in the interests of our residents to submit a Local Plan as soon as we can. We will be able to update it when required to.
A delay of two or three years could leave us more open to speculative planning applications for all sorts of developments. It is these piecemeal, opportunistic developments rather than ones which form part of an overarching Local Plan that can cause major problems. They often don’t take sufficiently into account the impact on infrastructure, demand for school places and other issues.
The draft LP proposes nine new primary schools, four new secondary schools, sites for 15,000 new homes, including social housing, locations for 15,000 jobs, and new parks and health facilities.
Residents and other stakeholders gave their general views about the draft LP at an earlier Regulation 18 consultation, helping to shape the proposals.
You can take part in the Regulation 19 consultation and view the draft LP along with other documents at https://www.stalbans.gov.uk/new-local-plan.
Media contact: John McJannet, Principal Communications Officer: 01727 819533, john.mcjannet@stalbans.gov.uk.
Source: City of Leeds
People in Leeds are being encouraged to have their say on the possible introduction of a new regulatory licensing scheme for private sector rented housing.
Leeds City Council began operating a system known as ‘selective licensing’ in Beeston and Harehills in 2020 with the aim of driving up the standard of privately-rented homes and boosting wider efforts to tackle social and health inequalities in the two communities.
Positive results have been achieved but – under the terms of the Housing Act 2004 – selective licensing schemes in England can only run for a period of five years.
The council is therefore now considering plans for a new and expanded scheme that would again include much of Beeston and Harehills but would also take in parts of Armley, Holbeck, Cross Green and East End Park.
All private landlords – with certain limited exceptions – would be required by law to obtain a licence for any residential property they are seeking to let in the designated area.
The licence conditions would include ensuring the safe working of gas or electric appliances, providing smoke alarms and carbon monoxide detectors and keeping the property in a decent state of repair, both inside and out.
A public consultation on the proposed scheme was launched yesterday (Monday, September 23), with the council keen to gather a wide cross-section of views before it decides whether to press ahead with its plans.
And interested parties across the city – including landlords, tenants and other stakeholders – are being urged to take the opportunity to share their thoughts between now and the end of the consultation period on December 13.
Councillor Jess Lennox, Leeds City Council’s executive member for housing, said:
“Privately rented properties are a key source of housing in Leeds and it’s vitally important that they are safe, warm and well managed places to live.
“We want to explore options for protecting and improving the quality of every type of home in our city, with the newly-launched consultation on selective licensing forming part of that work.
“I would encourage as many people as possible to let us know their views over the course of the next few months.”
More than 4,500 inspections and other visits have been conducted at properties in Beeston and Harehills under their existing schemes, which both come to an end next year.
Landlords have had to carry out improvement work on more than 1,500 homes where issues were identified during these checks.
The visits have also given council officers increased opportunities to identify situations where tenants are facing non-housing related problems, with more than 1,700 referrals being made to partner agencies for support with health, financial and other challenges.
The areas provisionally earmarked for the new scheme all sit within the Armley, Beeston & Holbeck, Burmantofts & Richmond Hill, Gipton & Harehills and Hunslet & Riverside council wards.
These wards have higher levels of deprivation than the city as a whole and an above-average concentration of private rented housing.
A decision on whether to bring in the new Selective Licensing in East, South & West Leeds scheme is expected in the first half of 2025.
To learn more about the consultation and how to submit feedback, click here. Further information can also be obtained by e-mailing ESWselective.licensing@leeds.gov.uk or ringing 0113 378 2899.
ENDS
MIL OSI Translation. Region: Russian Federation –
Source: Moscow Government – Government of Moscow –
In the capital ended festival “Summer in Moscow. Everyone out on the street!”. 600 entertainment venues were organized for city residents and tourists, including at the festival sites of “Moscow Seasons”. Visitors bought 35 thousand portions of various treats and 16 thousand liters of soft drinks. During the festival, souvenir shops and shopping chalets sold about 11 thousand memorable gifts, jewelry and decorative items. This was reported by the capital’s Department of Trade and Services.
Guests especially loved craft chocolate, hand-made ice cream and pine cone jam. At each site, you could try meat and fish dishes cooked on the grill, and national culinary delicacies from vendors from all over the country.
In the summer, Muscovites attended concerts and theatrical performances by groups from all over Russia. Thousands of master classes were held at the venues of the festival “Summer in Moscow. Everyone out on the street!”, where adults and children made home decor, toys, jewelry and fashion accessories, as well as culinary masterpieces with the help of experienced chefs. Young guests attended programming, English and archeology classes, and drawing lessons with professional teachers. Plein airs were very popular.
More than 20 Moscow Seasons venues hosted fun starts, sports and board games, training sessions, as well as dance lessons, Zumba, yoga and stretching classes. In addition, Muscovites took part in transformation games that helped them return from the world of gadgets to reality, understand their goals and find ways to achieve them.
At the creative evenings, visitors listened to poems and songs, discussed the works of classics, legendary plays and books, watched performances by contemporary artists. Lectures and creative classes with representatives of the fashion industry, writers and theater community were held at the Moscow Seasons venues.
On Nikitsky Boulevard, an open-air exhibition and art market were held for 100 days. An exhibition of paintings by young artists from the Moscow Exhibition Halls association was organized for city residents and tourists, and master classes on painting techniques and handicrafts were held.
The guests of the festival remembered the “Summer in Moscow. Everyone out on the street!” theme nights with gramophone music at the vintage market on Chistye Prudy, as well as the championship of the childhood game “Rock, Paper, Scissors”, in which residents of all Moscow districts took part.
More information about the activities of the Department of Trade and Services is available in the official telegram channel.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
http://vvv.mos.ru/nevs/item/144354073/
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.
Source: IMF – News in Russian
OeNB | SUERF | Joint Vienna Institute | Yale Program on Financial Stability Conference on Building Resilience and Managing Financial Crises
Vienna, Austria
Tobias Adrian, IMF Financial Counsellor and Director of the Monetary and Capital Markets Department
September 18, 2024
It is a great pleasure to speak to you today on a policy area at the forefront of our work at the IMF in helping our members prepare for, and deal with, financial instability. I will provide a snapshot of the progress that has been made and what remains to be done to deal effectively with bank runs and bank failures. I will also explain what we are doing at the IMF to help our membership make further progress in this critical area.
The bank failures in 2023 in the US and Switzerland presented the most significant test since the global financial crisis of the reforms taken collectively to end “too-big-to-fail.” It’s not often that policymakers get to field test plans for dealing with failing systemic banks, let alone one for a global systemically important bank (G-SIB).
In our view, the failures of Credit Suisse in Switzerland and SVB, Signature, and First Republic in the US, showed that while significant progress has been made, further progress is still required to deliver on the too-big-to-fail reform agenda and reduce the risk that taxpayers bail out shareholders and creditors when banks fail.
On the one hand, the actions the authorities took last year successfully avoided deeper financial turmoil. In addition, unlike many of the failures during the global financial crisis, significant losses were shared with the shareholders and some creditors of the failed banks. However, taxpayers were once again on the hook as extensive public support was used to protect more than just the insured depositors of failed banks.
In Switzerland, amid a massive creditor run, the Credit Suisse acquisition was backed by a government guarantee and liquidity facilities nearly equal to a quarter of Swiss economic output. While the public support was ultimately recovered, it entailed very significant contingent fiscal risk, and created a larger, more systemic bank. Indeed, UBS now has the largest ratio of assets to home country GDP of any individual G-SIB.
The use of standing resolution powers to transfer ownership of Credit Suisse, after bailing in shareholders and creditors, rather than relying on emergency legislation to effect a merger, would have fully wiped out the equity of Credit Suisse shareholders and limited the need for public support.
What lessons have we learnt?
Domestic and international authorities have published extensively on the lessons learnt and we share many of the conclusions. The key points I would highlight include:
The importance of intrusive supervision and early intervention. Credit Suisse depositors lost confidence after prolonged governance and risk management failures. The banks which failed in the US pursued risky business strategies and very rapid growth with inadequate risk management. Supervisors in both jurisdictions should have acted faster and been more assertive and conclusive. Policymakers need to empower supervisors with both the ability and the will to act.
Even relatively small banks can prove systemic. A lesson from many past crises, including the US bank failures in 2023, is that you can’t always judge in advance which banking problems will become systemic. In many countries, including the US and Switzerland, we think authorities should do more to be ready for crises affecting their medium-sized banks. Banking supervisory and resolution authorities should ensure that sufficient recovery and resolution planning takes place across the banking sector as a whole. This should include, on a proportional basis, banks that may not be systemic in all circumstances, but that could certainly be systemic in some.
Central banks should be prepared to provide extensive liquidity support during a crisis. Banks should be familiar with the central bank’s operations and facilities and be ready to use them at short notice. Who can access central bank lending is also an important question as liquidity risks have partially moved away from the usual central bank counterparties. While widening the counterparty list could help central banks intervene more broadly in a crisis, it runs the risk of rewarding regulatory arbitrage, giving raise to difficult trade-offs and requiring careful assessment. Central banks may well have to lend against illiquid collateral in a crisis. In that context, prepositioning would help to ensure operational preparedness especially to ascertain the legal claim on the collateral and to calibrate appropriate haircuts. An open question is whether the prepositioning should be voluntary or required, and how much counterparties should preposition if required. The benefits of enhanced lending “fire power” would have to be compared with the cost that prepositioning entails for the banks and the costs to the central bank, including risks to its balance sheet. If propositioning is directly linked with risk (e.g., a percentage of uninsured deposit), the impact on intermediation and the interaction with other prudential regulation would need to be carefully assessed.
Resolution plans and regimes need sufficient flexibility. We very much support the conclusion of the Financial Stability Board’s lessons learned report that resolution authorities need to “better operationalize a range of resolution options for different circumstances.” Every bank failure presents different challenges and resolution authorities need to be flexible enough to deal with the actual crisis that presents itself, balancing risks to financial stability with those to taxpayers. Authorities should make sure that they carefully balance rules versus discretion and detailed planning versus optionality in designing their resolution regimes. The rapid sale of Credit Suisse should prompt us to think about what would be needed for the successful sale in resolution of even the largest banking groups, at least in some circumstances.
Strikingly, every one of the cases I mentioned from Spring 2023, involved the transfer of the failing bank’s business lines to an acquiring bank, even where this had not been the focus of prior resolution planning. Two of the US cases also involved the intermediate step of transfer to bridge banks. So, we have timely and high-profile reminders that transfer powers should be a core part of the resolution toolkit and should be duly planned for and readily implementable, including at short notice.
Cooperation and effective implementation of resolution powers across borders is imperative. One notable feature of last year’s bank failures was the degree of international cooperation between regulators and resolution authorities in their handling of these cases. The Swiss authorities worked intensively with international counterparts to prepare for a resolution of Credit Suisse, which would have needed supportive actions from the supervisors and resolution authorities responsible for Credit Suisse’s main foreign operations, including in the US, UK, and EU. SVB’s UK subsidiary was resolved by the Bank of England, ultimately being sold to HSBC, and the FSB report highlights that the UK relied on the deep relationships built over the years with their US counterparts to help implement this. This cooperation seems to have begun earlier and worked a lot better than in similar cases during the global financial crisis, such as the failure of Lehman Brothers.
That experience highlights how global financial stability depends on authorities being able to work together across borders and to build in peacetime the routine contacts and good understanding ex ante of what each authority would be likely to do to make that possible. However, there was a wrinkle in this otherwise positive experience, as highlighted in the Financial Stability Board’s report on the bank failures, which relates to the importance of the US securities markets to most major foreign banks. Credit Suisse and most other major banks have debt securities issued in US dollars and/or under New York law, the holders of which may incur losses in a resolution. As a recent report of the Financial Stability Board highlighted, there remain significant open questions about how disclosure and other US securities legal requirements would be applied in the circumstances where securities issued in the US are envisaged to be converted in a short period, for example, over a resolution weekend. This is an important issue where further work is needed and this is being taken forward by the Financial Stability Board, the Securities and Exchange Commission, and others.
Finally, effective deposit insurance regimes are crucial. Banks typically fail when creditors lose confidence, even before their balance sheet reflects potential losses. Authorities in many countries need to strengthen deposit insurance regimes. New technology like 24/7 payments, mobile banking, and social media have accelerated deposit runs. Last year’s failures followed rapid deposit withdrawals, and deposit insurers and other authorities should be ready and able to act more quickly than many currently can.
IMF staff are working actively to support efforts in member countries to strengthen their supervision, resolution, liquidity assistance, and deposit insurance frameworks including through FSAPs and technical assistance. In the US, we have seen lessons learned reports and policy proposals from many of the US banking authorities, several of which pick up on issues and recommendations that were discussed in the IMF’s assessment of the US financial sector (“FSAP”) in 2020. Our next FSAPs for Switzerland and the Euro Area will be published next year, and as we start work on that we will be taking a close look at the authorities’ and the FSB’s findings and will likely reiterate many of our previous findings, including on strengthening deposit insurance regimes. We are also contributing to policy formulation at the international level, including a recently announced review of the international deposit insurance standard, and by earlier this year hosting with the Financial Stability Board a workshop for policymakers on the use of transfer powers in resolution.
The bottom line is that progress has been made, but there is still further to go in putting an end to too-big-to-fail. Most of the areas where further progress is needed are already well known; last year’s bank failures should provide the impetus for policymakers to cover the remaining ground.
PRESS OFFICER:
Phone: +1 202 623-7100Email: MEDIA@IMF.org
https://www.imf.org/en/News/Articles/2024/09/16/sp091824-navigating-through-financial-turbulences-with-preparedness-competence-and-confidence
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Hong Kong Government special administrative region
Applications for Sale of Home Ownership Scheme Flats 2024 to commence from October 3 onwards (with photos)
Applications for Sale of Home Ownership Scheme Flats 2024 to commence from October 3 onwards (with photos)
******************************************************************************************
The following is issued on behalf of the Hong Kong Housing Authority: The Hong Kong Housing Authority (HA) announced today (September 24) that the Sale of Home Ownership Scheme (HOS) Flats 2024 (HOS 2024) will open for applications for three weeks, starting from 8am on October 3 until 7pm on October 23. “Eligible applicants may submit online applications or paper applications for HOS 2024 either in person or by post. The application fee is $290. Balloting is expected to be held in the fourth quarter this year and flat selection is expected to start from the second quarter of 2025. Flats for sale include a total of 7 132 flats in five new HOS developments at a wide variety of locations (including Kai Tak, Yau Tong, Kwun Tong, Tung Chung and Tuen Mun), providing choices of flats of various sizes with saleable areas ranging from about 17.3 square metres to about 47.4 sq m (about 186 square feet to about 510 sq ft) (Annex 1). Large flats, with saleable areas ranging from about 41.1 sq m to about 47.4 sq m (about 442 sq ft to about 510 sq ft), account for about a quarter of the total number of flats. Meanwhile, around 70 rescinded HOS flats (as at July 31, 2024) from developments sold under HOS 2020, HOS 2022 and HOS 2023 (Annex 2), and a new batch of about 350 recovered Tenants Purchase Scheme (TPS) flats are also included,” a spokesman for the HA said. Prices The HA continues to price HOS flats at an affordable level. The average flat selling prices are set at a 30 per cent discount from the current assessed market values, i.e. for sale at 70 per cent of the assessed market values. The selling prices of flats in the five new HOS developments range from $1.43 million to $4.67 million with an average selling price of about $2.7 million. “Based on the average flat selling price at about $2.7 million (saleable area of about 35 sq m or about 380 sq ft), the mortgage payment is only $11,600 per month assuming that he/she takes out a mortgage at 90 per cent of the flat price at a term of 30 years and interest rate of 4 per cent. For one to two-person flats, which we believe will be welcomed by young families and young people, the average selling price is about $1.7 million and the mortgage payment is only $7,300 per month. As some banks have just announced to adjust the mortgage interest rate downward, the mortgage payment will also be reduced,” the spokesman said. The list prices of the unsold TPS flats in the 39 estates range from about $140,000 to $1.28 million, and the discounts range from 79 per cent to 84 per cent of assessed market values. The final price range will depend on the recovered TPS flats that will be put up for sale under in this sale exercise. Priority for flat selection and quota “The order of priority for flat selection by eligible applicants will be determined by the application category, quota allocation and ballot results. A quota of 2 900 flats will be set for families applying under the Priority Scheme for Families with Elderly Members and the newly introduced Families with Newborns Flat Selection Priority Scheme (Priority Newborns Scheme). Family applicants with babies born on or after October 25, 2023, will be eligible to apply for the Priority Newborns Scheme if their babies are aged 3 or below on the closing date of the application of HOS 2024. Separately, a quota of 700 flats will be set for one-person applicants,” the spokesman said. Application arrangements Starting from tomorrow (September 25), application forms, application guides, and sales booklets for HOS flats (sales leaflets for rescinded HOS flats and recovered TPS flats) will be available on the HA/Housing Department (HD)’s designated website for HOS 2024 (www.housingauthority.gov.hk/hos/2024), while printed copies can be obtained during opening hours from the Housing Authority Customer Service Centre (HACSC) in Lok Fu, the office of the HA’s Green Form Subsidised Home Ownership Scheme Sales Unit in Kwun Tong, estate offices and District Tenancy Management Offices of the HA, rental estate offices of the Hong Kong Housing Society and the Home Affairs Enquiry Centres of the Home Affairs Department. Sales exhibition in respect of HOS developments and TPS estates under HOS 2024 will be available for public viewing at the HACSC in Lok Fu starting from September 25 up to the end of the application period. Related information is also available on the HA/HD’s designated websites. “Members of the public are reminded to read carefully the application guide before submission of applications. They may call the 24-hour HA Sales Hotline at 2712 8000 on matters concerning applications for the HOS 2024,” the spokesman said. Enforcement of domestic property ownership restriction The HA reminds applicants, “Starting from HOS 2023, Green Form applicants, same as White Form applicants, should not have owned any domestic property in Hong Kong during the period from 24 months preceding the closing date for submitting the application up to the time of purchase. The HD has set up a data-matching mechanism together with the Land Registry, and over 1 100 applications of the previous HOS sale exercise were identified with records of domestic property ownership in Hong Kong. Relevant applications have been cancelled accordingly, and depending on the circumstances of individual cases, the HA will consider taking prosecution action.”
Ends/Tuesday, September 24, 2024Issued at HKT 19:18
NNNN
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
MIL OSI Translation. Region: Russian Federation –
Source: Moscow Government – Government of Moscow –
All utility systems, residential buildings, municipal facilities, equipment and machinery are ready for the autumn-winter period. The Moscow Government has considered the issue of the readiness of the capital’s housing stock and housing and communal facilities for the autumn-winter season of 2024/2025.
Preparations for the heating season for 74 thousand buildings, including 34.6 thousand residential buildings, 8.4 thousand social facilities and 30.8 thousand economic facilities, were carried out from May to August.
City services carried out preventive inspections and necessary repairs of engineering systems and equipment of boiler houses, central heating stations, large energy facilities, engineering networks of heat, gas, water and electricity supply.
The existing power reserves allow for a stable and uninterrupted supply of energy resources to consumers, as well as to meet the needs of promising city programs and infrastructure projects.
In case of possible failures and damage to utility networks, 1,093 emergency teams, 1,229 units of specialized equipment, as well as backup sources of electricity and heat supply have been prepared.
The required amount of road cleaning, engineering and other specialized equipment, as well as small mechanization tools, will be used to maintain urban areas and facilities. Snow will be disposed of at 51 stationary snow melting points.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
https://vvv.mos.ru/major/themes/11819050/
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
Helmut Schlesinger turns 100 on 4 September, an anniversary that adds a wholly new numerical dimension to the honorary title of former Bundesbank President. Helmut Schlesinger is certainly no stranger to accolades celebrating his milestone birthdays. The “Börsen-Zeitung”, for one, marked his 80th birthday by writing that his name is synonymous with the pursuit of monetary stability, in a reference to the Bundesbank’s particular culture of stability, in which Mr Schlesinger’s thinking and attitudes resonate to this day.
Mr Schlesinger’s presidency marked the pinnacle of over 41 years at the Bundesbank and in pursuit of a stable currency. He is rightly regarded as one of the most influential Bundesbankers of all time. The “Börsen-Zeitung” once dubbed him a home-grown product of the Bundesbank, a description that I like a lot. It wrote that Helmut Schlesinger embodied an exceptional period of monetary history, which came to an end as it were with the transition to the euro, characterised, on balance, by the continuity of success.
During the 1950s and 1960s, in the early days of the Deutsche Mark, Mr Schlesinger followed an unusually steep career as a Bundesbank civil servant, culminating in him heading the Economics and Statistics Department. It was a time in which West Germany was experiencing the economic miracle. Under the fixed exchange rate regime, the Bundesbank led the money and credit sector out of planning and currency reform until it was finally opened and liberalised in 1958. Over the entire period, the Bundesbank succeeded in keeping the Deutsche Mark stable.
In 1972, Mr Schlesinger was appointed to the Bundesbank’s Directorate and became its chief economist. The circumstances of the time required a complete realignment of monetary policy: the Bretton Woods exchange rate system teetered and finally collapsed in 1973. Western Europe’s exchange rates entered a new equilibrium – first in the European exchange rate arrangement, then in the European Monetary System (EMS). In economic terms, the 1970s were dominated by oil crises and rising unemployment. The combination of high inflation and a stagnant economy led to a new term being coined: stagflation. At that time, the Bundesbank was the first central bank to introduce monetary targeting. Mr Schlesinger played a key role in translating monetarist theory into a monetary policy strategy.
He always saw the importance of explaining monetary policy, in personal contributions and in the Bundesbank’s Monthly Report, which he edited meticulously and with a sure sense of style. Many at the Bundesbank will remember the notes he made in pencil – he preferred an HB, or medium, hardness grade. As a monetary policymaker, however, some considered him a hard pencil lead, his argumentation consistent, but never simplistic. Time and again, he demonstrated the interaction between economic analysis, theoretical monetary concepts, political decision-making and historical change.
During the 1970s and 1980s, the Deutsche Mark proved one of the world’s most stable currencies. Mr Schlesinger, who was made Vice-President in 1980, was regarded as the “conscience of stability policy”. US Treasury Secretary James A. Baker III is once said to have accused Schlesinger of seeing inflation under every pebble. This period saw the Deutsche Mark evolve into the anchor currency of the EMS. In 1991, Schlesinger was promoted from Vice-President to President – for a tumultuous 26 months. The Bundesbank used interest rate hikes in a bid to bring down the inflation caused by German reunification. Its stubborn high-interest-rate policy met with criticism within Germany and elsewhere. Many of the EMS partner countries likewise blamed the Bundesbank for the currency crises and rounds of depreciation of 1992‑93. When the United Kingdom was forced to withdraw from the EMS in 1992, UK politicians and the British media levelled serious accusations at Mr Schlesinger. Yet he was never a narrow-minded monetary policy nationalist; he followed a clear monetary compass. When Mr Schlesinger, a passionate hillwalker, was asked on a Himalayan tour about the importance of the oldest Buddhist mantra om mani padme hum, he is said to have answered: keep the money supply tight.
Nowadays, the monetary targeting he introduced and that proved so successful back then has a different role to play. The structure of the economy has changed fundamentally. Mr Schlesinger himself always underscored that monetary policy strategy had to be adapted to structural change if it was to maintain monetary stability. Another of Mr Schlesinger’s insights also remains as true now as it was then: Stable money not only needs stability-oriented policies from both the government and the central bank. Business, employers and trade unions, and consumers also need to behave appropriately – what you might call a culture of stability. He established this culture of stability not just within the Bundesbank, but throughout west German society and later German society as a whole. It is a culture that is an obligation to all of his successors in the office of Bundesbank President. As the fifth in this line, I am honoured to offer my felicitations: heartfelt congratulations on your 100th birthday, Helmut Schlesinger!
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: Deutsche Bundesbank in English
The interview was conducted by Christian Siedenbiedel.Translation: Deutsche Bundesbank
Mr Nagel, is this terrible wave of inflation finally over?
Yes, I believe this wave of inflation is coming to an end. In its initial phase, it was very challenging, or, as you put it, “terrible”. However, we in the euro area are now well on the way to sustainably achieving our inflation target of 2 %. Based on the Eurosystem projection from June, we should hit this target at the end of 2025. In Germany, the inflation rate of 2 % in August, as measured by the Harmonised Index of Consumer Prices, was a little deceptive, if only for purely technical reasons: the year-on-year rate, that is, compared with August 2023, was more favourable than in other months. We’ll be seeing somewhat higher rates again soon. But I think that we’re past the worst of it: we’ve ridden out the big wave.
Is it still possible that inflation could get out of hand?
I wouldn’t say so. Provided that we don’t see any more unexpected major shocks, like Russia’s invasion of Ukraine in February 2022, for example, then inflation should continue to trend towards 2 %. Nevertheless, we shouldn’t celebrate prematurely and start patting ourselves on the back. We haven’t quite hit our target yet. We must remain vigilant and be wary of the risks on the way back to stable prices – that is our job as a central bank.
How seriously should we be taking the repeated upside surprises to services inflation?
We are taking the higher inflation for services seriously. After all, services make up nearly half of the basket of consumer goods – that’s a lot. In Germany, the prices for services are still rising by around 4 % each year. Strong growth in wages is especially contributing to this. And we are expecting wage settlements in Germany to remain relatively high over the remaining course of 2024 as well. In annual terms, negotiated wages are likely to rise by around 6 %. While there is some fluctuation in the monthly figures, wage pressures in Germany will remain high overall for the time being.
Given this state of affairs, do you think the ECB should risk lowering interest rates for a second time in September?
On the ECB Governing Council, we have stressed that we will not pre-commit to any particular path of interest rates and that we will follow a data-dependent approach to our decisions. Following the interest rate reduction in June, it was a wise move to then wait and see in July and not cut rates any further. For this reason, I will really only be making up my mind at next week’s ECB Governing Council meeting, when I will have a full overview of all the data. As before, we are not flying on autopilot. But I’ll say one thing: I think inflation is making good progress.
When interest rates were first cut in June, only the Governor of the Oesterreichische Nationalbank, Robert Holzmann, voted against the reduction. After all, the ECB had just been forced to adjust its inflation projections upward. Did you not have any concerns in cutting interest rates?
No, I had no concerns in June. From my perspective, the interest rate step was justified by the data. They did not cast any doubt on the general direction of travel, that is, the decline in the inflation rate over a longer period of time. And our monetary policy is still tight, even after the cut in interest rates. However, I do, of course, respect the decision of my colleague Robert Holzmann.
During his time as President, your predecessor Jens Weidmann was often the one who took on the role of the most hawkish member of the ECB Governing Council, the most strident advocate of tight monetary policy. How do you view your role on the Governing Council?
Comparing two completely different situations is always difficult, and it should be up to others to evaluate my work. Our decisions on the Governing Council are reached as a team – one that strives to make responsible monetary policy for the euro area. I wish to seek out solutions together with my colleagues on the ECB Governing Council, which is why I focus more on the team as a whole than on individuals. I think we have done well on this score over the past two years: we have succeeded in bringing inflation down in a challenging environment.
There are economists who fear that inflation could settle at a level noticeably above the ECB’s target of 2 % in the medium term. Do you think that the risk of there being structurally higher inflation in future can be completely ruled out?
In this context, we must clearly distinguish between two things. First, there is the question of whether we are going to see stronger price pressures in the future. That’s something I can’t rule out. We are keeping close tabs on how certain developments are impacting on inflation – these include geopolitical developments, the green transformation and demographic developments. Some academics expect these developments to lead to pressure towards higher inflation rates. A different question altogether is whether inflation will be higher over the long term because of this. And I will be quite clear on this matter: that’s something monetary policymakers hold sway over. Our mandate is price stability.
Would you then say that the ECB is partly to blame for inflation getting out of hand in recent years?
I wouldn’t use the word blame in this context – I consider that to be the wrong category. Hindsight is always 20/20. What is certainly true is that at the end of 2021 – before I joined the ECB Governing Council – it was already foreseeable that the inflation rate would rise, and the ECB continued its asset purchases. In January 2022, prior to Russia’s invasion of Ukraine, we already had an inflation rate of 5 %, which was probably due in part to the coronavirus pandemic. As part of the ECB strategy review that has just begun, we will have to examine the role monetary policy measures, such as asset purchases, played during the low inflation period.
Was it a sticking point that the ECB had committed to tapering asset purchases first before starting to raise interest rates? The economist Markus Brunnermeier mentioned this recently in a discussion with you. As a result, the central bank was unable to respond quickly enough with the interest rate hikes that inflation would have required …
Back then, it was important to gradually ready financial markets for this reversal. This happened through a series of announcements starting from December 2021. If you look at developments in financial markets, then I’d say that the markets understood this communication and were prepared. The ECB thus succeeded in keeping the negative side effects often associated with changes in monetary policy relatively manageable.
In your role as Bundesbank President, how do you view the economic situation in Germany at present. Is it being talked down?
We are navigating an economic situation characterised by strong headwinds. Recent business communications make it clear that certain sectors are under pressure and need to take countermeasures. But I am very much against talking the situation down, because that stimulates exactly those developments that are being lamented.
What do you mean by headwinds?
As a large export economy, Germany is particularly hard hit by the geoeconomic changes happening at the moment. Let me give an example: we export especially large amounts to China, meaning that any slowdown in the economy there impacts us particularly hard. The uncertainty that we are seeing among consumers and firms is a factor as well. As a result, investment in machinery, equipment and vehicles fell by 4.1 % between the first and second quarter. Overall, economic output contracted by 0.1 % in the second quarter. That should serve as a wake-up call. We need to put growth front and centre, and that means investment needs to become a more attractive option again.
So where might impetus to boost growth come from?
I think the Federal Government’s growth initiative is on the right
track: getting rid of bracket creep for taxpayers, cutting bureaucratic red tape, making improvements to depreciation on investments, but also bringing in measures to strengthen incentives to work. These are all sound steps. But, with the summer break over now, they actually need to be put into practice. Words have to be followed up with deeds. It is particularly important that politicians give a clear indication of where things are headed. If there is a dependable setting, firms will start investing more again. The debt brake could also stand to undergo moderate reform, in my view. The Bundesbank has put forward some proposals that would create a little more leeway, provided that Germany keeps to the EU’s rules on debt. But now it’s up to politicians to take action.
How concerned are you by what has happened in Thuringia and Saxony?
I find it very unsettling. Democracy, freedom, openness, including to people from other countries – these are core values. When these are being called into question, we at the Bundesbank cannot just look on dispassionately, either; we need to take a clear stand. A central bank also has a responsibility to society in this regard. And, as you know, we at the Bundesbank have just had renowned historians probe the history of central banking in Germany between 1924 and 1970. I worry when I read about calls for Germany to exit the European Union or leave the monetary union. That sort of thing jeopardises Germany’s position as a business location; it undermines European cohesion. And it’s harmful to our prosperity.
The Bundesbank itself is in the midst of profound change. The plan for the new Central Office in Frankfurt was pared back, there are to be no new high-rises, and eight out of 31 branches are set to be closed. Where do things stand – is more on the way?
Well, that’s already a fair amount that we have planned. This is about making the Bundesbank fit for the future. But it’s also about the Bundesbank’s duty to uphold cost-efficiency. Together with our staff representation committees, we have agreed to let staff work up to 60 % of their hours from home. That has allowed us to significantly downsize our construction plans for Frankfurt. In terms of office space, we can even do without new builds entirely. And we will be designing our future open-plan workspaces in a manner befitting a modern institution. We need to reduce the number of branches because of the trend decline in the use of cash. But the closures will be planned with a long lead time and carried out in a socially responsible way. And we will make sure that the cash supply throughout Germany remains fully intact at all times in future.
So what do the Bundesbank’s staff have to say when they find out they will no longer have their own office in future under these plans?
When the employees first set eyes on their new office environment, there’s bound to be plenty who say it is really great. Despite the success of working from home, it has also taught us how important it is to engage with others. This is tremendously helpful in fulfilling the Bundesbank’s tasks, and that often works better in open-plan workspaces than behind closed doors. It will of course still be possible to go into a quiet space for a while when concentrated individual work is required.
You have also announced your intention to use AI to a greater extent, for example in inflation forecasts. Have there been any successes yet in this regard?
Yes, we are already trialling quite a few things on this front, for example in the area of short-term inflation forecasting. For very complex problems, in particular – which we at the Bundesbank are often confronted with – AI delivers an initial assessment very quickly. We are also already using it to prepare for our meetings. However, for us it is important that AI remains just a tool. People continue to bear responsibility. We remain in the driving seat.
The ECB is currently reviewing its monetary policy strategy again. What would you consider to be important here?
One thing we need to do is to reflect on the past: what was good about the non-standard monetary policy measures, and what was bad? A critical look in the rear-view mirror is important in order to check our use of instruments going forward. Are we well equipped in this context? What topics will be relevant in future?
Would you also want to talk about the inflation target of 2 %?
A review of the inflation target is not on our agenda. We have fared very well with our inflation target of 2 %, also of late. I see no reason to change the target in the current situation.
There was much debate at the time – especially in Germany – about the ECB’s multi-trillion euro asset purchases. Some central bank staff even resigned over the matter. What is your view of this now, after a few years of experience and the realisation of high operating losses at the Bundesbank?
Obviously I would also rather announce profits, and indeed we did have profits over many years. Now, however, we will have to deal with a few years of losses – and we will manage. This is, incidentally, a topic that we communicated at a very early stage. After all, when monetary policymakers purchase assets on a large scale, it is clear that rising interest rates will impact the central bank balance sheet. And this is indeed what has happened. We had to raise interest rates sharply. As the largest central bank in the Eurosystem, the Bundesbank has to shoulder the greatest burden. In the current year, we could potentially see a magnitude similar to that of 2023. Since we have virtually exhausted our risk provisions, we will have to make use of loss carryforwards in the coming years. Nevertheless, an important aspect for me is that the Bundesbank will return to profitability in future. The Bundesbank’s balance sheet is sound as we have large revaluation reserves. For this reason, there is no need for anyone to worry – the Bundesbank does not need any additional capital.
And what’s your takeaway for the asset purchases? Should this instrument be abolished?
One should certainly exercise caution with regard to substantial asset purchases at the zero lower bound. When it comes to safeguarding price stability, it should remain an exceptional instrument for exceptional circumstances. I hope that such exceptional circumstances do not occur again in the foreseeable future. I at least don’t see any signs of this happening. The substantial monetary policy asset purchases were associated with numerous side effects in financial markets. In the strategy review I am calling for a clear delineation of asset purchases at the zero lower bound – we mustn’t overuse this instrument.
© FAZ. All rights reserved.
Source: China State Council Information Office
A staff member walks past the Shenzhen Stock Exchange in Shenzhen, south China’s Guangdong province, Sept. 21, 2020. [Photo/Xinhua]
Chinese stocks rallied on Tuesday, fueled by a package of stimulus measures announced on the same day.
The benchmark Shanghai Composite Index was up 4.15% to 2,863.13 points, and the Shenzhen Component Index closed 4.36% higher at 8,435.7 points.
China’s central bank, top securities regulator and financial regulator earlier in the day announced a raft of monetary stimulus, property market support and capital market strengthening measures to support the country’s high-quality economic development at a press conference.
The country will cut the reserve requirement ratio, lower mortgage rates on existing home loans, and create new monetary policy tools to support the stock market, among others.
These policies, which exceed market expectations, will boost market confidence, stimulate the vitality of market entities, stabilize credit levels, and enhance the sustainability of financial support for the real economy, said Wen Bin, chief economist at China Minsheng Bank.
Gains are seen across the board on the two bourses, with shares related to steel and coal leading the surge.
The combined turnover of stocks covered by the two indices stood at 974.8 billion yuan (about $138.25 billion), up from 551 billion yuan recorded on the previous trading day.
The ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, surged 5.54% to close at 1,615.32 points Tuesday.
Source: People’s Republic of China – State Council News
HONG KONG, Sept. 24 — China’s research vessel Deep Sea No. 1, carrying manned submersible Jiaolong, received a warm welcome Tuesday in the Hong Kong Special Administrative Region (HKSAR), the first time they visited the city.
The vessel is on a home-bound voyage after completing a scientific mission in the Western Pacific Ocean. During their two-day stay in Hong Kong, scientists on board will give lectures to Hong Kong students and hold a number of international seminars to share the results of this scientific expedition.
Warner Cheuk, deputy chief secretary for administration of the HKSAR government, said that the visits ahead of the 75th anniversary of the founding of the People’s Republic of China fully demonstrated the central government’s care and support for Hong Kong’s marine scientific research development and ecological conservation.
It is hoped that this event will inspire more young people in Hong Kong to engage in deep-sea research and make planet Earth a better place to live in, he said.
Wu Changbin, director of China Ocean Mineral Resources R&D Association, congratulated the successful completion of the Western Pacific international voyage scientific expedition, saying that this voyage not only enhanced China’s scientific understanding of deep-sea biodiversity and ecosystems but also contributed important scientific data to global marine scientific research.
The scientific expedition team of Chinese and foreign scientists set sail on Aug. 10 from Qingdao, east China’s Shandong Province, and made a total of 18 dives in the Western Pacific. It was the first time that foreign scientists have carried out deep-sea scientific research on Jiaolong.
Source: US State of Connecticut
Members of the UConn community and the general public are invited to join in a bipartisan conversation about fostering civic and democratic engagement at The Dodd Center for Human Rights at UConn Storrs on Thursday, September 26, 2024, when Congress to Campus comes to UConn.
The flagship program of the nonprofit organization FMC – a bipartisan, voluntary alliance of former U.S. Senators and Representatives who advocate for representative democracy at home and abroad – Congress to Campus offers a unique civic educational experience by engaging honest dialogue with bipartisan teams of former members of Congress, congressional staff, and American diplomats.
“We know from our own work at UConn on programs like Democracy and Dialogues just how powerful it can be to engage in meaningful and civil discussion on the most critical issues we, as a society, are facing,” says James Waller, the inaugural Christopher J. Dodd Chair in Human Rights Practice at UConn and director of Dodd Human Rights Impact Programs, which is hosting the Congress to Campus event.
“We hope that this event will showcase how civil discourse, and even disagreement, can be a productive and healthy part of our democracy,” Waller says.
Congress to Campus sessions have been held on 183 campuses in 43 states and seven countries, reaching more than 57,000 students in the last 10 years alone.
UConn’s Congress to Campus event will feature a discussion with the Honorable Loretta Sanchez (D-CA, 1997-2017), a former senior member of the Armed Services and Homeland Security Committees; and the Honorable Fred Upton (R-MI, 1987-2023), a former chairman of the Committee on Energy and Commerce and top Republican leader of the Subcommittee on Energy.
Their discussion will be moderated by NBC Connecticut anchor and reporter Amber Diaz ’11 (CLAS), and UConn President Radenka Maric will deliver welcoming remarks
While visiting UConn, Reps. Sanchez and Upton will also engage with members of the broader community in a series of workshops small group discussions, keynotes, and classroom visits on topics including civil discourse, messaging and disinformation, democracy and human rights, and participation and inclusion.
The event is co-sponsored by UConn’s Gladstein Family Human Rights Institute, School of Public Policy, Department of Political Science, Undergraduate Student Government, Department of Residential Life, Community Outreach, Office of Outreach and Engagement, and the Nancy A. Humphreys Institute for Political Social Work.
It’s supported by Citizen Travelers, the nonpartisan civic engagement initiative of Travelers.
“We’re so grateful for our many partners on this event, and we hope students as well as members of our UConn community and the greater public will join us for this important conversation,” says Waller.
The Dodd Center is home to robust academic programs and innovative external engagement in human rights, including the Gladstein Family Human Rights Institute, its Dodd Human Rights Impact Programs, the University Archives and Special Collections, and the Center for Judaic and Contemporary Jewish Life.
The outreach and engagement arm of human rights at UConn, Dodd Human Rights Impact works to develop and support programs and initiatives that seek to directly impact local and global communities by helping them meet their human rights challenges.
Space is limited. Please click here to register for this event.
For more information about Dodd Impact, visit humanrights.uconn.edu/dodd-impact-programs.
Source: United Kingdom UK House of Lords (video statements)
Overhaul inquiries to make them more efficient and effective, says House of Lords committee in new report.
Public inquiries are set up to consider incidents of major public concern, such as the Grenfell Tower fire, the Post Office Horizon scandal and the Covid-19 pandemic.
The Statutory Inquiries Committee has been considering the way these inquiries work. In its new report it found inefficiencies leading to delays and unnecessary costs. It calls on the government to conduct a major overhaul, including supporting an independent body responsible for following up on recommendations and ensuring that those accepted by the government are implemented.
Find out more and read the report in full https://ukparliament.shorthandstories.com/statutory-inquiries-lords-report/index.html?utm_source=youtube&utm_medium=social&utm_campaign=statutory-inquiries-report&utm_content=lords-youtube-channel
#HouseOfLords #PublicInquiries
Catch-up on House of Lords business:
Watch live events: https://parliamentlive.tv/Lords
Read the latest news: https://www.parliament.uk/lords/
Stay up to date with the House of Lords on social media:
• Twitter: https://twitter.com/UKHouseofLords
• Instagram: https://www.instagram.com/UKHouseofLords/
• Facebook: https://www.facebook.com/UKHouseofLords
• Flickr: https://flickr.com/photos/ukhouseoflords/albums
• LinkedIn: https://www.linkedin.com/company/the-house-of-lords
• Threads: https://www.threads.net/@UKHouseOfLords
#HouseOfLords #UKParliament
Source: Deutsche Bundesbank in English
A digital euro would be a digital form of central bank money, specifically the euro. It could be used by the general public in much the same way as cash, only in virtual form. Alongside cash, the Eurosystem would thus supply households with an additional form of central bank money that can be used quickly, easily and securely.
Source: GlobeNewswire (MIL-OSI)
LOS ANGELES, Sept. 24, 2024 (GLOBE NEWSWIRE) — Today, DISQO released its 2024 Holiday Advertising report, offering marketers actionable insights into consumer holiday shopping behaviors and advertising preferences. Shoppers today have more options than ever for purchasing, discovery, and engagement. Understanding these shifts is critical for brands seeking to effectively tailor their strategies, break through the noise, and drive meaningful connections that influence purchasing decisions.
DISQO’s new report underscores the increasing importance of employing omnichannel strategies, embracing test-and-learn approaches, and innovating advertising to capture consumers throughout their shopping journey. DISQO asked over 3,000 US members of its 100% owned and opted-in audience of 2.3M people about their 2024 holiday shopping plans. The results are balanced and weighted to the US population on gender, household income, and age.
Key insights from the report reveal:
“As the holiday shopping season shifts earlier and spans across more platforms, it’s crucial for marketers to adopt a data-driven approach,” said Stephen Jepson, President, Media Effectiveness at DISQO. “To stay at the top of consumer’s wish lists, brands and retailers must continuously test campaign timing, messages, and channels, and invest in cross-platform measurement that breaks through siloed walls.”
About DISQO
DISQO is building the most trusted experience platform that fuels brand growth. DISQO powers smart business decisions by helping clients measure every customer, touchpoint, and outcome. DISQO’s identity-based ad measurement and audience products are powered by millions of consumers on the industry’s largest opt-in consumer data platform. DISQO is recognized in Deloitte’s Fast 500 and Ad Age’s Best Places to Work, and has won ad measurement awards from Digiday and Cynopsis Media. Follow @DISQO on LinkedIn.
Media Contacts
Stacy Perrus
stacy.perrus@disqo.com
Source: GlobeNewswire (MIL-OSI)
ANN ARBOR, Mich., Sept. 24, 2024 (GLOBE NEWSWIRE) — DocNetwork announced that it has successfully completed a SOC 2 Type 2 audit for its CampDoc and SchoolDoc platforms, reinforcing its commitment to the highest standards of data security and privacy.
After completing their SOC 2 Type 1 and HIPAA audits in April 2024, Sensiba LLP completed a new audit to affirm that DocNetwork’s information security practices, policies, procedures, and operations meet the Service Organization Control (SOC) 2 standards for security, availability, processing integrity, confidentiality, and privacy over a period of time.
SOC 2 Type 2 and HIPAA are the gold standard for data security and privacy, ensuring companies handle data responsibly. Completing these audits marks a significant milestone for DocNetwork, and sets their software apart from competitors. CampDoc is the only camp management software to achieve SOC 2 Type 2 and HIPAA certification, and SchoolDoc is the only school Electronic Health Record (EHR) software to achieve SOC 2 Type 2 and HIPAA certification.
As camps and schools continue to rely on external vendors for essential operations, it is vital they trust and understand the software systems they use. DocNetwork’s independent security validation helps safeguard the Personal Identifiable Information (PII) and Protected Health Information (PHI) of campers, students, and staff.
“Achieving SOC 2 Type 1 and HIPAA certification was an important milestone, but progressing to SOC 2 Type 2 demonstrates our ongoing commitment to rigorous privacy and security standards,” said Dr. Michael Ambrose, Founder and CEO of DocNetwork. “This achievement reinforces our dedication to protecting the camps and schools we serve, ensuring their confidence in our continuous efforts toward compliance and data protection.”
CampDoc and SchoolDoc offer the most comprehensive solution to help ensure the health and safety of children while they are away from home. DocNetwork is trusted by over 1,250 programs across all 50 states and internationally, including traditional day and residential camps, YMCAs, Jewish Community Centers (JCCs), Girl Scouts, Boy Scouts, parks and recreation facilities, colleges and universities, and K-12 public, private, and charter schools.
Camps and schools should visit www.campdoc.com or www.schooldoc.com for more information.
About DocNetwork
DocNetwork is an international, comprehensive electronic health record system, offering solutions to improve efficiency and maximize safety in camps, schools, and businesses. A collaborative effort between doctors, nurses, camp and school directors, and business owners, DocNetwork helps organizations manage health forms, allergies, medications, immunizations, and illness and injury tracking. DocNetwork also offers online registration, travel and emergency medical protection, emergency text message alerts, check-in, and attendance. For more information about DocNetwork and web-based health management, please visit www.campdoc.com, www.schooldoc.com, or call 734-619-8300.
Contact:
Michael Ambrose, M.D.
DocNetwork
734-619-8300
michael@docnetwork.org
Source: GlobeNewswire (MIL-OSI)
FREMONT, Calif., Sept. 24, 2024 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today the launch of its most powerful Enphase® Energy System™ to-date, featuring the new IQ® Battery 5P™ and IQ8™ Microinverters, for customers in India.
India’s power grid is among the most challenging in the world, with frequent outages disrupting daily life for many households. The new Enphase Energy System transforms this situation by enabling uninterrupted, reliable backup power. Key components of the system include:
“The launch of the IQ Battery 5P marks a significant milestone for India,” said Harsha Kuntur, managing director at Ecosoch Solar. “These are some of the most advanced batteries, with built-in smart inverters that integrate seamlessly into Enphase’s ecosystem, providing complete control over both critical and non-critical loads. Homeowners can optimize energy use and ensure resilience, even under high demand. Scalable and future-ready, they allow power export to the grid during non-solar hours. With a long warranty and a durable design that eliminates any single point of failure, these batteries set a new standard in energy solutions for Indian homes.”
“Our customers are increasingly looking for energy independence, and the Enphase Energy System, powered by the new IQ Battery 5P, delivers just that,” said Rakshith Talanki, director at SunPV Energy Pvt. Ltd. “The system’s flexibility and advanced technology, including the IQ8 Microinverters, enable us to provide solutions that are not only reliable but also scalable for future growth. This gives homeowners the confidence to power through outages and reduce their reliance on the grid.”
Homeowners can use the Enphase® App to monitor performance and intelligently manage their battery systems, including the self-consumption feature to minimize grid electricity use. The App also offers homeowners the ability to disconnect from the grid entirely and reconnect with ease, all with just a few taps when desired. Enphase provides 24/7 customer support and industry-leading warranties, including a 15-year limited warranty—extendable up to 25 years—on IQ8 Microinverters and a 15-year limited warranty on IQ Batteries activated in India. Both limited warranties require the installation of an IQ® Relay device. The IQ Relay is integrated into the IQ System Controller for systems with IQ Batteries.
“Homeowners prioritize reliability and safety when selecting a home energy system,” said Thejas Babu, director at Thapas Energy. “The Enphase Energy System with the IQ Battery 5P is designed to provide exceptional reliability, safety, and performance, enabling homeowners to effectively harness solar power for their daily energy needs.”
“At Enphase, we strive to provide world-class technology for homeowners and businesses to support their energy needs,” said Mehran Sedigh, senior vice president of sales at Enphase Energy. “As India aims to increase its clean energy generation, we’re proud to work with our installer network across the country to equip homeowners with smart, safe, and powerful solar and battery products.”
Distributors and installers in India can now place pre-orders for the IQ Battery 5P, with shipments to installers expected to begin in December. For more information about the IQ Battery 5P in India, please visit the Enphase website.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 76.3 million microinverters, and over 4.3 million Enphase-based systems have been deployed in more than 150 countries. For more information, visit https://enphase.com/.
©2024 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, Solargraf, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.
Forward-Looking Statements
This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products in India, including safety, quality and reliability; and the availability and market adoption of Enphase products in India. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.
Contact:
Enphase Energy
press@enphaseenergy.com
This press release was published by a CLEAR® Verified individual.