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Category: KB

  • MIL-OSI: WTW Launches Structured Auto Buffer London Excess Facility to transform fleet risk management

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) — WTW (Nasdaq: WTW), a leading global advisory, broking, and solutions company, announced the launch of its new Structured Auto Buffer London Excess (StABLE) facility, providing an innovative risk financing solution through ‘Swing Plan’ structures. This new offering is an innovative dedicated structured Auto Liability solution in the marketplace that supports organizations with managing fleet risks while rewarding them for comprehensive risk management practices and favorable loss performance.

    The WTW StABLE facility enables clients to share in both the risk and reward of their fleet operations. If losses remain below a predetermined threshold, clients may receive some returned premium, with an option to commute the policy for additional returns. If losses exceed the threshold, additional premiums are capped, ensuring a balanced risk-sharing approach. The facility also offers tailored terms and conditions, including adjustments to premium structures that support cash flow, and options for policy reinstatement if limits are exhausted. Despite significant investment in fleet safety and telematic solutions, many insureds are not seeing the returns from carriers in the form of traditional limit deployment and associated reduced premiums. This new product offers customized insulation from broader portfolio pricing. With a multi-year structure, StABLE provides clients with greater budget transparency and clearly defined limits on potential losses.

    James Sallada, Head of Casualty North America at WTW, commented, “Our StABLE (Structured Auto Buffer London Excess) Facility is an innovative risk sharing solution that addresses concerns around restricted and/or increasingly expensive capacity. The facility is yet another example of WTW’s client-focused broking specialization, and it enables our team to quickly offer the broadest available terms and conditions, which can be tailored to meet specific balance sheet priorities for clients.”

    This innovative solution provides clients with a flexible and transparent approach to managing casualty risk. The facility is primarily targeted for owners, lessors, and brokers of large or heavy fleets of any vehicle type, including trucks, buses, and concrete mixers. Clients benefiting from this solution operate in a variety of sectors, such as delivery, construction, waste management, and public transport.

    Jon Drummond, Transportation and Logistics Industry Leader and Head of Broking, CRB North America, WTW, added, “As the complexity of casualty risk continues to evolve, our approach to structuring capital needs to evolve as well. This unique solution extends leverage to clients and allows them to optimize their capital spend to better control total cost of risk in an inflationary environment, particularly with respect to premium spend and loss costs.”

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk, and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce, and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

    Learn more at wtwco.com.

    Media Contacts

    Douglas Menelly
    Douglas.Menelly@wtwco.com +1 (516) 972 0380

    Arnelle Sullivan
    Arnelle.Sullivan@wtwco.com +1 (718) 208-0474

    The MIL Network –

    January 24, 2025
  • MIL-OSI: CFC To Host Conference Call on Fiscal Year 2025 First-Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    DULLES, Va., Oct. 21, 2024 (GLOBE NEWSWIRE) — The National Rural Utilities Cooperative Finance Corporation (CFC) will hold an investor conference call and webcast on Friday, October 25, at 1 p.m. Eastern Time. CFC CEO Andrew Don will provide a business update and CFC Senior Vice President and CFO Ling Wang will review CFC’s fiscal year 2025 first-quarter financial results.

    There are two ways to access the event:

    • Conference Call Option
      Domestic: 800-289-0438 | International: 323-794-2423
      Participant Code: 1393878
      Callers also can view a PDF of the slide presentation by visiting Webcasts & Presentations page on the day of the call. It will be posted just prior to the broadcast.

    A replay of the webcast will be available on the Webcasts & Presentations page after the event. CFC’s Form 10-Q for the period ended August 31, 2024, was filed with the U.S. Securities and Exchange Commission on October 11.

    About CFC
    Created and owned by America’s electric cooperative network, the National Rural Utilities Cooperative Finance Corporation (CFC)—a nonprofit finance cooperative with more than $36 billion in assets—provides unparalleled industry expertise, flexibility and responsiveness to serve the needs of our member-owners. CFC is an equal opportunity provider. Visit us online at http://www.nrucfc.coop.

    Contact:    Heesun Choi
    Capital Markets Relations
    investorrelations@nrucfc.coop
    800-424-2954
         

    The MIL Network –

    January 24, 2025
  • MIL-OSI United Kingdom: Local Plan approved for submission to the Secretary of State, by St Albans City and District Councillors

    Source: St Albans City and District

    Publication date: 21 Oct 2024

    A Local Plan for St Albans District’s future growth has been agreed by Councillors. St Albans City and District Councillors approved the draft Local Plan (LP) for the purpose of submission to the Secretary of State, at a meeting of Full Council.

    The LP identifies land for housing, employment developments and green spaces for the years to 2041.

    Residents, community groups, businesses, neighbouring local authorities, statutory bodies and other organisations have helped shape the document by giving their views in consultations.

    Councillor Paul de Kort, the Council’s Leader, said after the meeting on Wednesday 16 October: “I am delighted that Councillors have voted overwhelmingly to approve our Local Plan for submission to the Secretary of State.

    “Producing a Local Plan is one of the most challenging, complex and important tasks that a Council faces and it has taken more than three years of demanding work to reach this stage.

    “It is in the interests of our residents that we move forward with the Local Plan without delay otherwise we will be vulnerable to more speculative planning applications for inappropriate developments.

    “It is these opportunistic developments that most concern residents as they don’t take a strategic account of the impact on the local community and, as they are not included in a Local Plan, they contribute less to improving the local infrastructure. 

    “This Local Plan can protect the District from such random, piecemeal developments by providing for new housing, schools, parks, cycleways and employment centres in a strategic way.”

    The LP allows for the building of 15,000 new homes in the District over the next 17 years in accordance with current national planning policy guidelines. This will include 1,200 social rent properties, mainly three-bedroom homes, increasing the area’s social housing stock by around 25%.

    The LP also allows for a potential £750 million of infrastructure to support the proposed new residential areas. This includes nine new primary schools, four new secondary schools, improvements to public transport, locations for 15,000 jobs, and new green spaces and health facilities.

    Cllr de Kort added: “The Local Plan helps to address the housing crisis we see in the District and that the country is faced with. In our District, this is more challenging as house prices are among the least affordable in the country.

    “The Local Plan provides for the first significant increase in social housing in a generation. It also caters for the need for more starter homes for young families.

    “It has the potential to give the younger generation a much greater chance of living in the area they grew up in, whether as homeowners or tenants.”

    The LP is currently undergoing what is called the Regulation 19 Consultation. This allows for public comment on the draft LP’s compliance and ‘soundness’ with national planning policies. 

    A report on the feedback will be considered at a meeting of the Planning Policy and Climate Committee on Thursday 28 November. 

    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 mean starting the whole LP process again from scratch.

    The Regulation 19 consultation continues until Friday 8 November. More information, including the draft LP and other documents, is available at http://www.stalbans.gov.uk/new-local-plan.
     

    Media contact: John McJannet, Principal Communications Officer: 01727 819533, john.mcjannet@stalbans.gov.uk.

    MIL OSI United Kingdom –

    January 24, 2025
  • MIL-OSI USA: 52 Bipartisan Congressmembers Urge Biden Administration to Tighten Russian Oil Sanctions and Question Exception Approval

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

    Contact: Alexis Torres, Alexis.Torres@mail.house.gov

    Washington, D.C.—U.S. Representatives Lloyd Doggett (D-TX-37) and Jake Auchincloss (D-MA-4) led a bipartisan effort to demand a tightening of Russian oil sanctions and to question an exception granted to a U.S.-based company, Schlumberger (SLB). Specifically, the lawmakers are questioning Treasury Secretary Janet Yellen and Secretary Antony Blinken as to why the Biden administration has permitted SLB to serve as an accomplice to Vladimir Putin.

    “We write regarding alarming findings that the U.S.-based company and world’s largest oilfield services firm SLB, widely known as Schlumberger, is expanding in Russia,” wrote the members. “Since Russia’s unjustified and illegal full-scale invasion of Ukraine in February 2022, SLB has signed new contracts, recruited hundreds of staff, and imported nearly $18 million in equipment into Russia. This U.S.-based company is keeping Vladimir Putin’s war machine well-oiled with financing for the barbaric invasion of Ukraine. We urge you to continue supporting our Ukrainian allies by pursuing more rigorous oil sanctions to effectively restrict Putin’s profits.”

    “My name is on the first sanctions legislation to become law shortly after the Russian invasion,” said Rep. Doggett. “Implementation of that and similar legislation by our allies has not prevented Putin from earning billions from oil exports. And unfortunately, North Korea and Iran are not the only places providing him help. By permitting his exports and permitting continued American company investments in Russia, Americans, and our European allies, are essentially funding both sides of this war. While well aware of concerns about the price of gasoline at the pump, we must stop oiling the Putin war machine to win this war, secure a just peace, and reparations.”

    “While Ukrainians fight and die on the front lines of freedom, a U.S. oil company is supporting the enemy,” said Rep. Auchincloss. “Oil is the lifeblood of the Russian war economy, which is why the West must stand united in tightening and enforcing oil sanctions. That begins by holding SLB and its collaborators accountable for evading allied sanctions, profiteering from pain, and fueling Putin’s ability to wage war.”

    Additional signers include Representatives Sheila Cherfilus-McCormick (FL-20), Josh Gottheimer (NJ-05), Marcy Kaptur (OH-09), Barbara Lee (CA-12), Wiley Nickel (NC-13), Jared Huffman (CA-02), Dan Goldman (NY-10), Danny Davis (IL-07), Jim Costa (CA-21), Sean Casten (IL-06), Steve Cohen (TN-09), Adam Schiff (CA-30), Susan Wild (PA-07), Joe Wilson (R-SC-02), Hank Johnson (GA-04), Tom Suozzi (NY-03), Brad Sherman (CA-32), Zoe Lofgren (CA-18), Nikema Williams (GA-05), Gerry Connolly (VA-11), Mark Pocan (WI-02), Madeleine Dean (PA-04), Jamie Raskin (MD-08), Earl Blumenaur (OR-03), Seth Magaziner (RI-02), Chris Deluzio (PA-17), Patrick Ryan (NY-18), Chris Smith (R-NJ-04), Bonnie Watson Coleman (NJ-12), Salud Carbajal (CA-24), Raúl Grijalva (AZ-07),  Don Bacon (R-NE-02), Juan Vargas (CA-52), Jerry Nadler (NY-12), Annie Kuster (NH-02), Emanuel Cleaver (MO-05), Frank Pallone (NJ-06), Paul Tonko (NY-20), Adriano Espaillat (NY-13), Ted Lieu (CA-36), John Larson (CT-01), Mike Quigley (IL-05), Jill Tokuda (HI-02), Kweisi Mfume (MD-07), David Trone (MD-06), Seth Moulton (MA-06), Brian Fitzpatrick (PA-01), Stephen Lynch (MA-08), Bennie Thompson (MS-02) and Ro Khanna (CA-17).

    The full letter can be found here.

    Rep. Doggett is a strong champion for a prosperous Ukraine, consistently urging Congress and the Biden administration to take further actions in holding Putin accountable and ensuring full support for a Ukrainian victory. In 2022, the morning after Putin launched his unprovoked and illegal invasion, Rep. Doggett filed the first sanctions legislation, which later became law, to prohibit the direct import of energy products from Russia into the United States. The following year, he introduced the bipartisan Ending Importation of Laundered Russian Oil Act to close a “refining loophole” that allows Russian oil to be laundered through third-party countries and sold in the U.S. as gasoline and other petroleum products—therefore linking American consumers to financing parts of Putin’s war machine. In recent months, Rep. Doggett expanded his efforts to prevent Russia from continuing to profit off Western countries by publishing an opinion piece in Foreign Policy, calling for U.S. sanctions against a network of companies associated with Rosatom, Russia’s state-owned nuclear corporation.

    MIL OSI USA News –

    January 24, 2025
  • MIL-OSI Economics: ICC Antitrust Compliance Toolkit

    Source: International Chamber of Commerce

    Headline: ICC Antitrust Compliance Toolkit

    Competitive markets

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    More concise and user-friendly, the ICC Antitrust Compliance Toolkit has been updated to reflect the evolving landscape of antitrust risks and compliance practices over the last decade. The toolkit offers practical tools and guidance to build a credible corporate antitrust compliance programme.

    Share this:

    The second edition of the ICC Antitrust Compliance Toolkit includes comprehensive guidance for antitrust experts and non-experts alike on how to:  

    • build a compliance culture,  
    • conduct risk assessments, and  
    • implement effective monitoring and improvement measures.  

    Key facts: 

    • Integrating antitrust compliance into everyday business practices is vital. The ICC Antitrust Compliance Toolkit provides actionable guidance to establish a compliance culture and is a vital resource for companies looking to navigate the complexities of antitrust compliance. 
    • Processes alone are not enough. Fostering a culture of compliance starts with individual commitment. 
    • Understanding specific antitrust risks helps tailor internal trainings and response strategies effectively.  
    • Antitrust compliance requires continuous evaluation of compliance effectiveness, which is key to adapting to dynamic regulatory landscapes.  

    Why is the ICC Antitrust Compliance Toolkit relevant? 

    Complying with competition law makes good business sense. Regardless of a company’s size, competition law compliance places businesses ahead of the game.  

    At a time when antitrust violations are making headlines and penalty sizes are breaking records, it is vital that global businesses have the right tools to improve compliance with antitrust law. This is especially true given the last decade of rapid digital transformation, in which a number of new challenges have emerged.  

    Companies have adapted their business practices, while competition authorities have had to rethink how competition law is enforced. The updated ICC Antitrust Compliance Toolkit addresses these new challenges, including the risks associated with using artificial intelligence (AI). 

    What makes the ICC Antitrust Compliance Toolkit unique? 

    The ICC Antitrust Compliance Toolkit offers core principles for building a robust compliance programme – or reinforcing an existing one – with a local or global reach. Developed to complement existing materials, the toolkit seeks to enhance the understanding between business and antitrust agencies in relation to antitrust compliance programmes. It has received recognition and support from key competition agencies, most notably the European Commission. 

    Who is the ICC Antitrust Compliance Toolkit for?  

    The toolkit is intended for companies of all sizes, from SMEs to larger corporations, across various sectors. 

    It is particularly useful for in-house legal teams, compliance officers, and business leaders responsible for establishing or enhancing their company’s antitrust compliance programme. 

    It is also a valuable resource for professionals involved in risk management, such as audit and finance teams. 

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Economics: RBI updates the Alert List of unauthorised forex trading platforms

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has added the following entities/platforms/websites to the Alert List of unauthorised forex trading platforms. The updated Alert List is available here.

    Sr. No Name Website
    1 Ranger Capital https://www.rangercapital.net
    2 TDFX https://www.tdfx.exchange
    3 Inefex https://www.inefex.com/international
    4 YorkerFX https://yorkermarkets.com
    5 Growline https://grow-line.org
    6 Think Markets https://www.thinkmarkets.com
    7 Smart Prop Trader https://www.smartproptrader.com
    8 FundedNext https://fundednext.com
    9 Weltrade https://www.weltrade.com
    10 FreshForex https://freshforex.com
    11 FX Road https://www.fxroad.com
    12 DBG Markets https://www.dbgmarketsglobal.com
    13 Plusonetrade https://www.plusonetrade.com

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1351

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI China: China recovers 16B yuan in misused healthcare funds

    Source: China State Council Information Office 2

    Chinese authorities recovered over 16 billion yuan ($2.25 billion) in misused medical insurance funds during the first nine months of this year, according to official data released on Tuesday.
    At a press conference in Beijing, the National Healthcare Security Administration (NHSA) announced that it had conducted surprise inspections at more than 500 designated medical institutions participating in the national insurance scheme.
    These inspections, aimed at uncovering insurance fraud and misuse, covered all provincial-level regions, the NHSA stated.
    The administration pledged additional measures to ensure the security of healthcare funds and prevent future misuse.
    These efforts include expanding the scope of surprise inspections, enhancing self-inspection and rectification, strengthening big data monitoring, establishing a long-term regulatory framework, and increasing public exposure of violations.

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI China: Seawater intrusion incurs waterlogging on China’s northern coasts

    Source: China State Council Information Office 2

    High tides have poured seawater onto the land in coastal cities in northeast and north China’s Liaoning and Hebei provinces and Tianjin Municipality from Monday, submerging streets and triggering waterlogging.
    In Liaoning, the cities of Dalian, Yingkou, Panjin, Jinzhou and Huludao have suffered urban waterlogging, after the high tide.
    “I’ve lived in the neighborhood for more than 40 years, and I’ve never seen such a severe tidal upsurge,” said Zhang Xinghua, a fisherman at the Erjiegou neighborhood of Panjin.
    Zhang said the neighborhood is located in a low-lying area prone to attacks by tidal waves, especially when nearing winter, but this time the tides were “surprisingly large.”
    The city’s fire department on Monday dispatched 25 fire trucks and 150 firefighters, who took rubber boats for the search and rescue of people trapped in the waterlogging. By Monday night, 72 people were rescued and more than 120 were evacuated.
    As the tides ebbed Monday evening, seawater gradually retreated. Xinhua reporters saw water pumps still working round the clock on the streets in Panjin to drain water.
    “We are still checking risks in low-lying areas. No casualties have been reported,” said Liu Songlin of the sub-district office in Erjiegou.
    Meanwhile, seawater poured into residential houses on Monday in Luannan County, Tangshan City, Hebei Province. Local residents said they have not seen such a large tide in around 30 years.
    In the Binhai New Area of Tianjin Municipality, buses had to temporarily adjust regular routes to avoid the waterlogging area.
    The Liaoning provincial marine monitoring and forecasting center issued a Level-IV sea tide warning at 4 p.m. Monday, saying affected by a cold spell and cyclone, large waves up to 2.5 to 3.5 meters high would appear in the northern part of the Bohai Sea and the Yellow Sea from Monday night to Tuesday.
    Zhou Guanbo, a senior engineer at the China’s National Meteorological Center, attributed the seawater intrusion in Panjin and other places to storm surge superimposed with astronomical tide. This natural phenomenon leads to abnormal rise in tide water.
    He warned that seawater may affect drinking water safety, agricultural production and industrial production. 

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI Russia: Girls from the Faculty of Economics are the best volleyball players of NSU

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    Eight faculties took part in the women’s volleyball championship, which is included in the NSU Spartakiad. This year, the system of the competition was changed, so they played according to the Olympic program “with elimination”. As a result of the draw, pairs were determined. The losers were immediately eliminated, and the winners entered the semi-finals.

    The final match for 1st place between the EF and MMF teams turned out to be very intriguing. It was impossible to determine the winner until the end of the meeting, the girls fought equally, and only at the very last moment of the third game did the economists take the lead. The score of the games was 25:17, 17:25 and 16:14.

    As a result, the places were distributed as follows: 1st place – Faculty of Economics: Anna Remus, Anna Kuzminova, Anastasia Turaeva, Maria Kuminova, Ksenia Kopylova, Darima Bayartueva, Svetlana Ushakova, Ulyana Molodtsova and Ksenia Rekunova 2nd place – Faculty of Mechanics and Mathematics: Maria Bykovskaya, Polina Alekseeva, Asiya Golomolzina, Anastasia Trofimova, Anastasia Nagaeva, Alena Perevalskaya, Anastasia Snigur and Anastasia Moshkova 3rd place – Higher College of Informatics: Victoria Retyeva, Olga Vitmer, Sofia Kochetkova, Darya Kislaya, Polina Krokhova and Polina Efstifeeva 4th place – Institute of Philosophy and Law 5-8th places – Faculty of Natural Sciences, Faculty of Geology and Geophysics, Faculty of Philosophy and Law

    Anna Remus (EF) was recognized as the best player of the tournament.

    We congratulate the team of economists and wish them good luck and success in the upcoming Festival among the faculties of the Novosibirsk Region Universities. We thank the teachers of KaffV Svetlana and Vladimir Krylov for the excellent organization of the tournament.

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

    MIL OSI Russia News –

    January 24, 2025
  • MIL-OSI Russia: The IV Novosibirsk Scientific Readings in Memory of Academician Tatyana Ivanovna Zaslavskaya were held at NSU

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    The All-Russian Conference IV Novosibirsk Scientific Readings in Memory of Academician T.I. Zaslavskaya “Time of Change: Individual and Group Choice in Response to New Challenges” was held on October 17-19. The event was organized by Novosibirsk State University and the Institute of Economics and Industrial Engineering of the Siberian Branch of the Russian Academy of Sciences.

    The readings were held in the form of a series of six thematic round tables, the program of which was formed on the basis of participants’ applications: “Socio-economic relations and inequalities in modern Russia”, “Subjects of territorial relations: interests, behavior, interaction”, “Urban spaces and communities: transformation , development, conflicts”, “Dynamics of the labor market and employment in the context of digitalization and economic transformation”, “Spatial mobility and connectivity: what flows make space unified?” and “Development and preservation of human capital: trends, practices, factors.” Scientists from universities and institutes in several regions of Siberia and the Urals, as well as leading universities in Moscow, took part in them. Researchers from the Novosibirsk State University, Novosibirsk State Technical University, Siberian State University of Telecommunications and Informatics (Novosibirsk), Institute of Economic Forecasting of the Russian Academy of Sciences, Russian Academy of National Economy and Public Administration under the President of the Russian Federation, Higher School of Economics, Moscow State University presented their reports. . M.V. Lomonosov, Institute of Economics of the Ural Branch of the Russian Academy of Sciences (Ekaterinburg), Ural Federal University named after. the first President of Russia B.N. Yeltsin (Ekaterinburg), Institute of Mongolian Studies, Buddhology and Tibetology SB RAS (Ulan-Ude), Khakass State University named after. N.F. Katanova (Abakan). The majority of nonresident conference participants were researchers from Moscow universities. Representatives of several scientific organizations traditionally participate in the conference.

    At the opening of the conference, the dean Faculty of Economics, NSU, candidate of sociological sciences Tatyana Bogomolova spoke about the history of the Novosibirsk economic and sociological school. Associate Professor of the Department of General Sociology of the Faculty of Economics of NSU, Head of the Department of Social Problems of the Institute of Economics and Industrial Production of the Siberian Branch of the Russian Academy of Sciences Olga Fadeeva spoke about rural (agrarian) research, which is the “calling card” of the Novosibirsk economic and sociological school.

    The conference was held in a mixed format, but most of the presentations were in person. About 60 participants presented their reports, including not only experienced researchers, but also students, postgraduates and interns of university laboratories. The organizers of the scientific readings deliberately did not single out their presentations in a separate section, recognizing the relevance of the research of young sociologists and economists. Thus, the reports were made by NSU master’s students – Daria Ivanova (“Public conflicts in the Novosibirsk Akademgorodok: participants’ ideas about justice and prospects for their rapprochement”) and Rinat Galiullin (“Modern urban segregation: conceptual foundations of analysis”).

    — Currently, research on urban problems is becoming one of the prominent areas, and at our conference a large block of speeches was devoted to the subjects of urban relations and urban conflicts. Reports were also presented on economic inequality, territorial relations, social aspects of the use of space and infrastructure, population migration, and the accumulation of human potential in a certain territory. Many messages were devoted to problems associated with digitalization, including relations in the labor market. It was discussed how moving many of the processes associated with registering unemployed status or finding a job into the digital space cuts off some job seekers and makes it easier for others to access them. Concluding our conference, we discussed how, due to digitalization, the data with which sociologists work is paradigmatically changing, and what new requirements arise for assessing their relevance, validity and other data quality criteria. On the one hand, we made sure that we were working on the current agenda and presented our research at the conference, on the other hand, we made new contacts, since researchers with whom we were not previously familiar responded to our invitation to take part in the Readings this year – said the head of the department of general sociology of the Faculty of Economics of NSU, leading researcher at the Institute of Economics and Organization of Industrial Production SB RAS Tatyana Cherkashina.

    The participants’ attention was drawn to the report on the study by young researchers from the Higher School of Economics Kirill Chertenkov, Olga Rodina and Mikhail Balaban “What determines the desire to move? Results of questionnaire surveys in 10 regions of Russia”. No less interesting was the report by another postgraduate student of the Higher School of Economics, Georgy Stalinov “Practices of self-organization of couriers, taxi drivers and truck drivers”.

    For the fourth time, representatives of the Center “Institute for Social Analysis and Forecasting” of the Russian Presidential Academy of National Economy and Public Administration took part in the scientific readings. This year, senior researcher Sofia Korzhuk spoke about the study “The Well-being of Foster Families: Obstacles and Ways to Achieve”, conducted jointly with leading researcher Alla Makarintseva. Alla Makarintseva herself gave a report “Factors of Intentions Regarding the Third Child: What Does the Analysis Show Using Machine Learning Methods”. She conducted the study of this problem jointly with senior researcher Alexandra Burdyak. Ekaterina Seredkina presented a report “Child Benefits as a Tool for Reducing Child Poverty in Russia: Microsimulation Analysis” about the study that she conducted together with Marina Kartseva and Polina Kuznetsova.

    A highlight of the IV Novosibirsk Scientific Readings was the presentation by Doctor of Economics, Professor, Head of the Department of Economic Sociology at the Higher School of Economics Vadim Radaev on the topics: “Crisis in Modern Education” and “Non-Standard Consumption: Characteristic Features, Causes and Consequences”.

    — The conference program was designed in such a way that the participants not only listened to the reports, but also discussed them with each other. And according to the feedback from those present, the organizers succeeded in this. Our Moscow colleagues who took part in the online readings showed interest in this format of communication and actively participated in the discussion of their colleagues’ presentations. This is very important for us, because the same processes look and manifest themselves differently from Moscow and Siberia. It seems to me that at the past conference we laid the foundations, if not for joint research, then certainly for fruitful scientific communication, — said Tatyana Cherkashina.

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

    MIL OSI Russia News –

    January 24, 2025
  • MIL-OSI Economics: Secretary-General of ASEAN to participate in the 11th ASEAN Ministers Responsible for Culture and Arts Meeting and Related Meetings in Melaka, Malaysia

    Source: ASEAN

    At the invitation of H.E. Dato Sri Tiong King Sing, Minister of Tourism, Arts and Culture of Malaysia, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will lead the ASEAN Secretariat’s delegation to participate in the 11th ASEAN Ministers Responsible for Culture and Arts (AMCA) Meeting and Related Meetings, to be held in Melaka, Malaysia, on 24 October 2024. The 11th AMCA Meeting and Related Meetings will discuss the way forward to enhance cooperation among ASEAN Member States and Dialogue Partners and consider new priorities and partnerships to further amplify the awareness of culture’s transversal role toward building a culturally dynamic ASEAN Community of Opportunities for All.
    The post Secretary-General of ASEAN to participate in the 11th ASEAN Ministers Responsible for Culture and Arts Meeting and Related Meetings in Melaka, Malaysia appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Europe: State of the Russian economy examined

    Source: Government of Sweden

    State of the Russian economy examined – Government.se

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    Article from Ministry of Finance

    Published 22 October 2024

    Russia’s full-scale war against Ukraine continues with unabated intensity and far-reaching consequences for civilians. At the same time, Russia is spreading propaganda to try and portray the Russian economy as more well-functioning than it actually is. As part of efforts to combat this propaganda, the Swedish Government commissioned the National Institute of Economic Research to analyse economic developments in Russia. Last Wednesday, Minister for Finance Elisabeth Svantesson hosted a seminar in connection with the report’s conclusions.

    • Minister for Finance Elisabeth Svantesson.

      Photographer: Magnus Liljegren/Swedish Government Offices.

    • Minister for Finance Elisabeth Svantesson.

      Photographer: Magnus Liljegren/Swedish Government Offices.

    • Minister for Finance Elisabeth Svantesson, Torbjörn Becker, Director of the Stockholm Institute of Transition Economics (SITE) at the Stockholm School of Economics, Vladimir Milov, Russian opposition politician and economist, and Emil Wannheden, analyst at the Swedish Defence Research Agency (FOI).

      Photographer: Magnus Liljegren/Swedish Government Offices.

    • Minister for Finance Elisabeth Svantesson.

      Photographer: Magnus Liljegren/Swedish Government Offices.

    “Russia is spreading propaganda in an attempt to portray its economy as strong and resilient in order to give the impression that sanctions are ineffective and thereby undermine continuance of support to Ukraine. That’s why it’s important to nuance the view of the Russian economy and look beyond the official figures,” said Ms Svantesson. 

    The seminar was attended by Director of the Stockholm Institute of Transition Economics (SITE) Torbjörn Becker at the Stockholm School of Economics, who presented SITE’s report, done in response to the Government’s assignment to the National Institute of Economic Research. The report calls attention to one of the main challenges in analysing the Russian economy: the lack of reliable data because Russia’s economic reporting has become intertwined with its war propaganda. The Russian government has stopped publishing large parts of previously available data, and the figures that are available are being used to portray a more positive situation.

    The report also highlights that the Russian government’s financial reserves, which have been used to finance war spending, are rapidly running out and may be exhausted within a year. Once these reserves are exhausted, the Russian Central Bank will then be under pressure to lower its policy rate or even to start printing more money, which could lead to high inflation and a weakened rouble.

    “It is clear that the Russian economy is not working as well as Putin would have it appear. Resources are being drained to the war industry and the economy is overheated. There are obviously big question marks surrounding the official figures. We must continue to actively combat Putin’s propaganda. Wednesday’s discussion is an important part of these efforts,” said Ms Svantesson.

    Russian opposition politician and economist Vladimir Milov and analyst and economist Emil Wannheden at the Swedish Defence Research Institute also attended the seminar.

    Introduction by Minister for Finance Elisabeth Svantesson

    Presentation by Torbjörn Becker

    Comments by Vladimir Milov

    Comments by Emil Wannheden

    Questions

    Closing statement by Minister for Finance Elisabeth Svantesson

    MIL OSI Europe News –

    January 24, 2025
  • MIL-OSI Asia-Pac: 14 building plans approved in Aug

    Source: Hong Kong Information Services

    The Buildings Department approved 14 building plans in August – four on Hong Kong Island, six in Kowloon and four in the New Territories.

    Of the approved plans, eight were for apartment and apartment-commercial developments, two were for commercial development, and four were for community services developments.

    Consent was given for works to start on 10 building projects which, when completed, will provide 64,505 sq m of gross floor area for domestic use involving 1,502 units, and 38,346 sq m of gross floor area for non-domestic use.

    Additionally, the department received notification of commencement of superstructure works for three building projects.

    It also issued 15 occupation permits – two on Hong Kong Island, five in Kowloon and eight in the New Territories.

    The buildings certified for occupation comprise 69,576 sq m of gross floor area for domestic use, involving 2,319 units, and 18,417 sq m for non-domestic use.

    Meanwhile, the department received 2,409 reports about unauthorised building works in August and issued 702 removal orders.

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI Economics: Samsung Unveils a New Era of Awesome with the new Galaxy A06

    Source: Samsung

    Samsung is thrilled to announce the launch of the Galaxy A06, the latest addition to the A Series range, designed for those who seek reliability and performance without breaking the bank. With a blend of cutting-edge features and budget-friendly pricing, the Galaxy A06 is set to enhance the mobile experience for users across South Africa.

    Join the next generation of awesome with the Galaxy A06. With its awesome display from the expansive 6.7” screen[1] this new device provides an immersive experience with optimal wide viewing and rich, vibrant sound. Experience a smartphone that combines innovation, reliability, and affordability, making it the perfect choice for anyone in search of a dependable mobile companion.
     
    Available with 4GB of RAM and 64GB of internal storage—the Galaxy A06 provides ample space for all your apps, photos, and videos. Need more? Expand your storage effortlessly with a microSD card of up to 1TB. Imagine never having to worry about deleting precious memories to make space for new ones. With the Galaxy A06, your digital life is limitless.
     
    Stay connected longer with the powerful 5,000 mAh[2] battery that supports 25W Fast Charging. Whether you’re binge-watching your favourite series, video-calling friends, or navigating your way through a busy day, the Galaxy A06 ensures you have the power you need. So when you’re on a night out with your friends or at a festival, capturing every moment on your camera with the Galaxy A06 means you won’t have to scramble for a charger before the night ends.
     
    Equipped with a dual camera setup, the Galaxy A06 features a stunning 50MP high-resolution main camera, complemented by a 2MP depth camera. Your selfies are taken care of by the 8MP front camera. Users can effortlessly capture and share their favourite moments, whether it’s a breathtaking sunset or a group selfie with friends. The enhanced photo quality and detail bring life to every shot, making each memory even more special.

    Your personal information deserves the best protection. The Galaxy A06 comes with Samsung Knox Vault, safeguarding your data with advanced security features. Users can feel confident knowing that their sensitive information is well-guarded against threats, allowing them to enjoy their device without worry.
     
    The Samsung Galaxy A06 is available now, both online and in stores, in stylish light blue and classic black colours. With a recommended retail price of just R2499[3], it offers incredible value without compromising on quality.
     
    For more information, click here or follow us on social media for the latest updates.
     
    [1] Screen measured diagonally as a full rectangle without accounting for the rounded corners.
    [2] Typical value tested under third-party lab conditions. Rated (minimum) capacity is less.
    [3] Recommended retail price only. Prices may vary per retailer.

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Asia-Pac: 7 care homes added to GD scheme

    Source: Hong Kong Information Services

    The Social Welfare Department announced today that seven additional residential care homes for the elderly in Guangdong will become Recognised Service Providers under the Residential Care Services Scheme in Guangdong from November 1 to provide subsidised care and attention places for seniors joining the scheme.

    These care homes are located in Guangzhou, Foshan and Zhongshan. Five of them are operated by Mainland organisations and the other two are operated under a partnership formed by Hong Kong organisations and Mainland elderly service operators.

    Together with the two care homes in Shenzhen, and one each in Foshan and Zhaoqing, the number of care homes registered under the scheme will increase to 11 in five Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area to provide more choice for seniors with an interest in retiring in Mainland cities in the bay area.

    Click here for details of the Residential Care Services Scheme in Guangdong.

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI Russia: An exhibition dedicated to the 90th anniversary of the Geotechnical Department opened at SPbGASU

    Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Book exhibition for the ninetieth anniversary of the Department of Geotechnics of SPbGASU

    On October 21, the reading room of the scientific and technical library of SPbGASU hosted the grand opening of the book exhibition “Scientific School of the Department of Geotechnics (Mechanics of Soils, Foundations and Foundations)”. The exhibition is dedicated to the 90th anniversary of the department.

    The university’s management was represented at the exhibition opening ceremony by Sergey Mikhailov, Vice-Rector for Educational Activities, and Evgeny Korolev, Vice-Rector for Research Activities.

    Evgeny Korolev addressed young researchers with the words of Isaac Newton: “If I have seen further than others, it is because I have stood on the shoulders of giants.” Evgeny Valerievich expressed confidence that a similar exhibition will be held in many years, and current students have the opportunity to increase the number of works presented at it. The Vice-Rector also invited them to the International Scientific and Technical Conference “Modern Theoretical and Practical Issues in Geotechnics: New Materials, Designs, Technologies and Calculation Methods” (GFAC-2024), which will be held on October 27-29.

    “The exhibition is unique in that it is here that we can see how the traditions of scientific schools are formed, how unique scientific research is developed, how its results are applied, and how these results demonstrate the continuity of the university’s achievements. And continuity is a terribly interesting thing. It is this transfer of knowledge and research methods from one generation of scientists to the next that ensures progress in science and allows young people not only to develop and deepen the accumulated experience of their predecessors, but also to create new knowledge,” shared her thoughts Elena Romanova, head of the Scientific and Technical Library of St. Petersburg State University of Architecture and Civil Engineering.

    According to Elena Gennadyevna, the exhibition presents scientific works of famous professors of IGI/LISI/SPbGASU and young specialists. Visitors will also be interested to see rare publications that laid the foundation for current scientific achievements in the field of geotechnics.

    Rashid Mangushev, Director of the Scientific and Production Consulting Center for Geotechnology, Professor of the Department of Geotechnics, donated to the library a two-volume English-language Geotechnical Handbook published in 2024 and announced plans to promote this publication abroad.

    According to Anatoly Osokin, director of the Soil Testing Center and head of the geotechnics department, the new is the well-forgotten old. Anatoly Ivanovich said that he sees here the books that once awakened his interest in geotechnics.

    The exhibition “Scientific School of the Department of Geotechnics (Mechanics of Soils, Foundations and Foundations)” will be open in the reading room of the Scientific and Technical Library of St. Petersburg State University of Architecture and Civil Engineering until November 22. Opening hours: Monday through Thursday from 10:00 to 18:00, Friday from 10:00 to 17:00.

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

    MIL OSI Russia News –

    January 24, 2025
  • MIL-OSI United Kingdom: Farmer blames weather app after rain washes slurry down road

    Source: United Kingdom – Executive Government & Departments

    Farmer Ben Hembrow blamed rain which he claimed had not been forecast. But his fields were saturated with slurry which began running down a road.

    Slurry run off Huntham Farm in Stoke St Gregory into a lane.

    Somerset farmer Ben Hembrow applied slurry to fields growing winter wheat and claimed that heavy rain, which he said had not been forecast, led to slurry running into surrounding ditches and road drains near his Stoke St Gregory farm.

    This resulted in fines and costs to Hembrow and the farm totalling over £20,000.

    Appearing before District Judge Brereton at Yeovil Magistrates Court on Wednesday 16 October 2024, Hembrow, 36, of Huntham Farm, Stoke St Gregory, Somerset admitted two charges relating to causing slurry pollution. The company, Huntham Farm Ltd, also admitted one charge of causing a polluting discharge.

    Slurry put on fields ahead of rain

    In a case brought by the Environment Agency, the court heard that an officer went to the farm on a wet Sunday in February 2022, following a report of slurry running down a road and into a surface water drain close to the farm in Stoke St Gregory.

    The officer found fields saturated in slurry and observed slurry entering nearby watercourses and ditches. While investigating, Hembrow arrived on scene, visibly shaken. He attempted to reduce the impact by blocking a ditch and used sub soiling equipment to help break up the surface of the soil and prevent further run-off. Despite his actions the investigation later showed that over 1.5km of watercourse, as far as the confluence with the Sedgemoor Old Rhyne Site of Special Scientific Interest, had been impacted.

    Weather app blamed for forecasting ‘just 1mm of rain’

    During interview Hembrow claimed that the weather app he used had predicted only 1mm of rain the day after the slurry was applied. The agency’s investigation established that heavy rain had been forecast to fall on the Sunday throughout the week by numerous weather forecasters including the BBC and the app used by Hembrow. No checks on the physical condition of the soil had been made, no soil test pits to assess soil structure had been dug.

    Hembrow claimed he was not in breach of regulations to prevent pollution due to measures he had taken before spreading and specifically stated that, given the weather forecast he had consulted, he did not believe the application of slurry gave rise to a risk of pollution.

    A fine to reflect the slip in standards

    Summing up, District Judge Brereton acknowledged Hembrow to be a hard-working farmer committed to modern technology and farming practices. However, she also concluded that the fine imposed should reflect that the standards of farming had fallen well below what is expected. She also referenced aggravating features, specifically that Hembrow had previously been prosecuted for offences in 2016 and 2021.

    Hembrow, as an individual, was fined £525 for failing to plan the slurry applications. Huntham Farm Ltd was fined £8,000 for causing pollution and ordered to pay the agency’s full costs of £11,564.25.

    ‘Anything spread on the soil was likely to run off’

    David Womack, senior environment officer for the Environment Agency, said:

    This pollution event was avoidable but occurred because Mr Hembrow failed to carry out the most basic checks to assess if the land he was spreading slurry on was suitable.

    Previous land management had led to the fields being compacted – anything spread on the soil was therefore likely to run off, even in moderate rainfall conditions. He wrongly assumed risk assessments for slurry application would be done by his agronomist – but it was his responsibility to do this just prior to the slurry being applied.

    Additional weather checks would also have alerted Mr Hembrow that wet weather was very likely to occur immediately after he chose to apply slurry. Since 2018 there have been specific laws to ensure organic manure applications are planned and that they take into account weather forecasts and soil conditions.

    Background

    The charges:

    Ben Hembrow: 

    • On and before the 13 February 2022 you, Ben Hembrow, did cause an unpermitted water discharge activity, namely the discharge of poisonous, noxious or polluting matter from Huntham Farm, Stoke St Gregory, Somerset into inland fresh waters. Contrary to Regulations 12(1)(b) and Regulation 38(1)(a) of the Environmental Permitting (England and Wales) Regulations 2016. 
    • On and before the 13 February 2022 you, Ben Hembrow, did fail to plan the application of organic matter, namely slurry, to agricultural land at Huntham Farm, Stoke St Gregory, Somerset so as to give rise to a significant risk of agricultural diffuse pollution. Contrary to Regulations 4(1)&4(2) and Regulation 11 of the  Reduction and Prevention of Agricultural Diffuse Pollution (England) Regulations 2018. 

    The company: 

    • On and before the 13 February 2022 you, Huntham Farm Ltd, did cause an unpermitted water discharge activity, namely the discharge of poisonous, noxious or polluting matter from Huntham Farm, Stoke St Gregory, Somerset into inland fresh waters. Contrary to Regulations 12(1)(b) and Regulation 38(1)(a) of the Environmental Permitting (England and Wales) Regulations 2016.

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    Published 22 October 2024

    MIL OSI United Kingdom –

    January 24, 2025
  • MIL-OSI China: MOFA strongly condemns China for disregarding Taiwan’s goodwill and taking provocative actions that raise tensions in Taiwan Strait and region

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA strongly condemns China for disregarding Taiwan’s goodwill and taking provocative actions that raise tensions in Taiwan Strait and region

    October 14, 2024  

    No. 353  

    The Ministry of Foreign Affairs (MOFA) has noted that China on October 14 launched its so-called Joint Sword-2024B military drill around Taiwan, once again challenging the rules-based international order and gravely undermining regional peace and stability. MOFA strongly condemns China and urges it to pull back and immediately cease its military provocations.

     

    In his National Day address, President Lai Ching-te once again expressed goodwill to China and called for it to act responsibly and work with Taiwan to maintain the prevailing state of peace, stability, and prosperity. However, China remains determined to intimidate the people of Taiwan through military exercises and is attempting to threaten Taiwan’s democracy and unilaterally disrupt the status quo of peace and stability across the Taiwan Strait and throughout the region. MOFA solemnly denounces China and urges it to neither use false pretexts aimed at justifying disagreement and strife nor become a troublemaker that undermines regional peace and stability.

     

    At the same time, MOFA calls on nations around the world to recognize China’s authoritarian and expansionist nature, take concrete actions to support democratic Taiwan at this critical moment, unite in defending the values of freedom and democracy, and safeguard the rules-based international order, as well as the freedom, openness, and prosperity of the Indo-Pacific region. (E)

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI China: MOFA response to US Secretary of State Blinken reaffirming importance of cross-strait peace and stability at ASEAN-US and East Asia Summits

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to US Secretary of State Blinken reaffirming importance of cross-strait peace and stability at ASEAN-US and East Asia Summits

    October 12, 2024  

    United States Secretary of State Antony Blinken attended the 12th ASEAN-US Summit and the 19th East Asia Summit in Laos on October 10 and 11. In remarks at the first meeting, Secretary Blinken stated that it was important to maintain a shared commitment to protect stability across the Taiwan Strait. At the East Asia Summit the following day, he again spoke on cross-strait peace and stability as well as pressing regional and international challenges and threats, including China’s provocations in the East and South China Seas.

    Responding to a question at a press availability on October 11, Secretary Blinken highlighted the strong desire for all countries represented at the summit, including ASEAN members, to see peace and stability maintained across the Taiwan Strait. He stressed that President Lai Ching-te’s National Day speech was a regular exercise that China should not use in any fashion as a pretext for provocative actions. He further reiterated the importance of maintaining the cross-strait status quo and opposition to unilateral actions by any party to change the status quo. He said that 50 percent of commercial container traffic went through the Taiwan Strait every day and that more than 70 percent of high-end semiconductors were produced in Taiwan. This showed that there was a strong global economic incentive to maintain peace and stability and preserve the status quo.

    The Ministry of Foreign Affairs thanks the United States for continuing to use key regional summits to underscore the importance of cross-strait and regional peace and stability and for stating unequivocally that Taiwan’s regular National Day speech should not be a pretext for China’s provocations. As an important member of the Indo-Pacific region and a defender of the regional status quo, Taiwan will continue to collaborate with like-minded nations to uphold cross-strait and regional peace, stability, and prosperity.

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI Economics: Hurricane Helene and Milton damages will significantly impact profitability of US insurers, says GlobalData

    Source: GlobalData

    Hurricane Helene and Milton damages will significantly impact profitability of US insurers, says GlobalData

    Posted in Insurance

    Recent hurricanes Helene and Milton that have struck the US resulted in widespread devastation, claiming hundreds of lives and causing huge property damages. Hurricane Helene, which struck Florida’s Big Bend region as a Category 4 storm on September 26, 2024, resulted in catastrophic flooding throughout Florida, North Carolina, South Carolina, Georgia, and Ohio. The parts of the US were battered again by Hurricane Milton on October 9, 2024.  As a result, US insurers are expected to witness higher claims in 2024 across general insurance lines, which could significantly impact their profitability, according to GlobalData, a leading data and analytics company.

    As per the Office of Insurance Regulation, a total of 112,926 insurance claims for hurricane Helene have been filed as of October 9, 2024, with estimated insured losses amounting to $1.1 billion. Among these claims, 52,070 pertain to private passenger automobiles, followed closely by 50,672 residential property claims. Additional reported damages encompass commercial vehicles and commercial property losses.

    Manogna Vangari, Insurance Analyst at GlobalData, comments: “Hurricane Milton was a formidable storm that resulted in a landfall to the south of Tampa Bay, near Siesta Key, leading to multiple tornadoes, particularly across South Florida. The hurricane Milton presents a considerable risk to the densely populated region of Florida that might result in even higher costs than those associated with Hurricane Helene. According to the White House briefing, the damage from Hurricane Milton is estimated to be more than $50 billion.”

    Property insurance claims are expected to account for a 12.9% share of the total general insurance claims in 2024, amounting to $227.5 billion. However, with these events, the actual claims in 2024 might increase once the complete impact of both hurricanes is realized. As a result, the overall profitability of the general insurance industry in the US is expected to be significantly impacted, with the average combined ratio exceeding 100% in 2024.

    According to GlobalData’s Global Insurance Database, the US general insurance industry is expected to grow at a CAGR of 7.1% over 2024–28, from $2.4 trillion in 2024 to $3.1 trillion in 2028, in terms of gross written premiums (GWP).

    In the US, standard homeowners’ policies do not encompass flood coverage and must be acquired separately, often directly from the federal government. Flood insurance is mandated for homes situated in high-risk areas as determined by the Federal Emergency Management Agency (FEMA), particularly if the mortgage is government-backed.

    As per the Insurance Information Institute, nearly 6% of US homeowners possess flood insurance. In several counties across Georgia, North Carolina, and South Carolina that were recently inundated by the effects of Helene, less than 1% of households have flood insurance. Nearly two-thirds of these policies are provided through the National Flood Insurance Program (NFIP) administered by FEMA, while the remaining are secured through private insurers.

    The aftermath of hurricanes Helene and Milton has cast a spotlight on the significant deficiencies within the US flood insurance framework and the ensuing repercussions. As climate change intensifies the frequency and severity of flooding, the need for comprehensive flood risk management has become increasingly critical.

    Vangari concludes: “The recent spate of natural disasters may result in higher-than-anticipated claims for US insurers and reinsurers in 2024 and 2025. The escalating incidence of such significant events is projected to drive the need for a comprehensive flood risk cover, which will support general insurance growth over the next five years.”

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Economics: Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis top M&A legal advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis top M&A legal advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the technology, media and telecom sector during the first three quarters (Q1-Q3) of 2024 by value and volume, respectively, according to the latest Legal Advisers League Table, which ranks legal advisers by the value and volume of mergers and acquisition (M&A) deals on which they advised, by  GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Skadden, Arps, Slate, Meagher & Flom achieved the leading position in terms of value by advising on $121.7 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 120 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Kirkland & Ellis was the only adviser to hit triple-digit deal volume during Q1-Q3 2024. It also outpaced its peers by a significant margin in terms of deal volume.

    “Meanwhile, Skadden, Arps, Slate, Meagher & Flom was among the only two advisers that managed to surpass $100 billion total deal value mark. Due to involvement in big-ticket deals, it registered a massive 60.8% growth in the total value of deals advised by it during Q1-Q3 2024 compared to Q1-Q3 2023.

    “Resultantly, Skadden, Arps, Slate, Meagher & Flom’s ranking by value also improved from the third position during Q1-Q3 2023 to the top position during Q1-Q3 2024. It advised on 15 billion-dollar deals* during Q1-Q3 2024 that also included five mega deals valued more than $10 billion.”

    Paul, Weiss, Rifkind, Wharton & Garrison occupied the second position in terms of value, by advising on $107.1 billion worth of deals, followed by Kirkland & Ellis with $75.3 billion, Simpson Thacher & Bartlett with $65 billion and Cleary Gottlieb Steen & Hamilton with $46.5 billion.

    Meanwhile, CMS occupied the second position in terms of volume with 58 deals, followed by Simpson Thacher & Bartlett with 48 deals, Latham & Watkins with 44 deals,  and Wilson Sonsini Goodrich & Rosati with 43 deals.

    *Valued more than or equal to $1 billion

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Economics: Goldman Sachs and Houlihan Lokey top M&A financial advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Goldman Sachs and Houlihan Lokey top M&A financial advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Goldman Sachs and Houlihan Lokey were the top mergers and acquisitions (M&A) financial advisers in the technology, media and telecom sector during the first three quarters (Q1-Q3) of 2024 by value and volume, respectively, according to according to the latest Financial Advisers League Table, which ranks legal advisers by the value and volume of mergers and acquisition (M&A) deals on which they advised, by GlobalData,  a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Goldman Sachs achieved the leading position in terms of value by advising on $88 billion worth of deals. Meanwhile, Houlihan Lokey led in terms of volume by advising on a total of 59 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Goldman Sachs registered an improvement in the total value of deals advised by it and the ranking by value during Q1-Q3 2024 compared to Q1-Q3 2023. During Q1-Q3 2024, Goldman Sachs advised on 23 billion-dollar deals*, that also included two mega deals valued for than $10 billion.

    “Involvement in these big-ticket deals helped it register improvement in terms of value as well as its ranking by this metric. Moreover, Goldman Sachs, apart from leading by value, also held the second position by volume during Q1-Q3 2024.

    “Meanwhile, Houlihan Lokey was the top adviser by volume during Q1-Q3 2023 and also managed to retain its leadership position by this metric during Q1-Q3 2024 as well.”

    Evercore occupied the second position in terms of value by advising on $83.7 billion worth of deals, followed by Qatalyst Partners with $64.8 billion, Morgan Stanley with $63.4 billion, and JP Morgan with $58.6 billion.

    Meanwhile, Goldman Sachs occupied the second position in terms of volume with 45 deals, followed by Rothschild & Co with 44 deals, Evercore with 40 deals, and Raymond James Financial with 35 deals.

    *Valued more than or equal to $1 billion

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Economics: Opioid addiction market to reach $2.4 billion in 8MM by 2033, forecasts GlobalData

    Source: GlobalData

    Opioid addiction market to reach $2.4 billion in 8MM by 2033, forecasts GlobalData

    Posted in Pharma

    The opioid addiction market across the eight major markets (8MM*) is poised to grow at a compound annual growth rate (CAGR) of 1.8% from $2.0 billion in 2023 to $2.4 billion in 2033, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report “Opioid Addiction: Opportunity Assessment and Forecast,” reveals that growth will primarily be driven by an increase in diagnosed prevalent cases, as well as an increase in treatment rates and the introduction of four late-stage pipeline products – cannabidiol, mazindol controlled release (CR), probenecid, and TRV-734.

    Jos Opdenakker, Neurology Analyst at GlobalData, comments: “Of the four late-stage pipeline products, three of them (cannabidiol, mazindol CR, and probenecid) are non-opioids. Cannabidiol and mazindol CR are expected to be used as potential adjunctive treatments in addition to the standard of care in the treatment of opioid use disorder, driving an increase in the OUD market. Probenecid is indicated for the treatment of OWS and is expected to take market share from existing OWS agents.”

    GlobalData forecasts that the late-stage pipeline products could drive combined sales of approximately $171.4 million in the 8MM by 2033. Trevena’s TRV-734 will be the most promising pipeline product, indicated for the treatment of opioid withdrawal syndrome (OWS).

    According to GlobalData forecasts, TRV-734 could generate global sales of approximately $77.6 million by 2033. It has the potential to see strong uptake due to its position as a partial mu-opioid receptor agonist. This means that it has the potential to elicit the partial effects of opioids but not the full effect, and this could limit some of the distressing side effects and potentially prevent withdrawal associated with existing opioid-based treatments.

    Opdenakker adds: “While the OUD pipeline agents will bring new mechanisms to market, they are unlikely to become first line treatments. The need for effective non-opioid treatments that do not target the mu receptor, which could potentially replace opioids as first-line therapies, remains.”

    Opdenakker continues: “The overall opioid addiction market is expected to experience growth until 2033; however, continued generic erosion will be an important barrier. Generic erosion is expected to be particularly significant in the US opioid addiction market.”

    In 2023, the US represented the largest market for opioid addiction, with 74.1% of the 8MM sales, due to its larger patient population and the high price of medications. Although the US is expected to remain the largest market for opioid addiction at the end of the forecast period, its proportion of global sales is expected to fall to 70.5% in 2033.

    The decline in the contribution of  the US opioid addiction market will be fueled by the patent expiries of Indivior’s extended-release formulation of buprenorphine, Sublocade, which was the top-selling drug in the opioid addiction market in 2023, Alkermes’ Vivitrol (naltrexone ER), Braeburn’s long-acting buprenorphine product, Brixadi and Orexo US’ Zubsolv (buprenorphine), all of which will expire throughout the forecast period, resulting in sales erosion amongst the key OUD therapies.

    Opdenakker concludes: “Although the impending entry of numerous generic products will act as a major barrier to growth and the introduction of the late-stage pipeline products is limited in their potential to generate significant revenues to counter the generic erosion, the increase in diagnosed prevalence, treatment rates, and general awareness surrounding opioid addiction will continue to act as the main drivers of growth across the 8MM.”

    *8MM- US, France, Germany, Italy, Spain, UK, Canada, and Australia

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Economics: AIIB Accredited as Green Climate Fund Entity to Accelerate Climate Action in Developing Members

    Source: Asia Infrastructure Investment Bank

    The Asian Infrastructure Investment Bank (AIIB) has been accredited as an International Access Entity (Accredited Entity) of the Green Climate Fund (GCF) at the 40th GCF Board meeting in Songdo, Incheon, Republic of Korea, Oct. 21-24.

    The partnership is in line with AIIB’s Corporate Strategy and GCF’s reform agenda. It will enable both institutions to leverage their resources to more effectively support members in achieving their Nationally Determined Contributions targets for low emissions and climate-resilient development, a critical component of the Paris Agreement.

    “AIIB’s top priority is to develop green infrastructure that facilitates climate transition and is resilient to climate change impacts in the coming decades,” said Sir Danny Alexander, AIIB Vice President for Policy and Strategy. “This partnership with GCF is a testament to our commitment to this mandate as outlined in our corporate strategy.”

    With this accreditation, AIIB will gain access to GCF funds through a flexible combination of grants, concessional debt, guarantees and equity instruments. These will enable AIIB to leverage blended finance and attract private capital for climate action in developing members. As a GCF Accredited Entity, AIIB will continue to deepen its collaboration with other international, regional and national development finance institutions; equity funds; and UN agencies to develop high-quality, climate-focused projects.

    Henry Gonzalez, Chief Investment Officer of the Green Climate Fund (GCF), welcomed the GCF Board’s decision to approve the accreditation. “This partnership opens new and exciting opportunities for collaboration on scaled-up climate action that focuses on green and resilient infrastructure in various countries,” he said. “Both GCF and AIIB have a shared focus on innovative solutions that provide a pathway for a low-emission, climate-resilient pathway towards sustainable development.”

    In 2023, AIIB’s climate finance reached 60% of total approved regular financing, an increase from 56% in 2022, surpassing the targets outlined in its corporate strategy. In terms of volume, its climate finance rose from USD 2.39 billion in 2022 to USD 3.43 billion in 2023.

    About AIIB

    The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

    About GCF

    The Green Climate Fund (GCF) – a critical element of the historic Paris Agreement – is the world’s largest climate fund, mandated to support developing countries raise and realize their Nationally Determined Contributions (NDC) ambitions towards low-emissions, climate-resilient pathways.

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI: Bybit x Block Scholes Derivatives Report Picks up Underlying BTC Volatility Signals Despite Surge in Spot Price

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 22, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, captures the pulse of underlying currents of BTC options in its latest crypto derivatives report. The in-depth report offers a comprehensive view of BTC’s implied price volatility beneath the recent price surge in BTC spot prices on the surface. 

    The findings suggest the positive movements in BTC spot places did not translate directly to the derivatives market, and short-term volatility lurks as investors are now holding out for the U.S. election results before acting on the current bullish trends. It also showed BTC’s dominance over ETH in traders’ positioning.

    Key Insights:

    Futures movements lag behind Perps: The modest increase in futures open interest has not matched the recent notable bullish movements of BTC spot prices, and the market has yet to see the levels prior to the option expiration in late Sep.

    Perps ride the bull run: By contract, perpetual swap open interest has been on the rise reaching a new high in months. Spikes in trading activities and increased participation in perpetual contracts mirrored the optimism in the recent rally. 

    Election suspense in BTC Options Volatility: The relative stability of short-term options does not signal significant price chances for BTC in the near term, but tension tied to the uncertainty of the U.S. election could trigger movements post-result, which has shown a bigger effect on BTC volatility than the recent surge in spot prices.

    Access the Full Report:

    To read the full report in context here for a deep dive into the latest crypto derivatives trading trends and signals. 

    #Bybit / #TheCryptoArk /#BybitResearch

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, users can visit Bybit Press 

    For media inquiries, users can contact: media@bybit.com

    For more information, users can visit: https://www.bybit.com

    For updates, users can follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YouTube

    The MIL Network –

    January 24, 2025
  • MIL-OSI: Stabilization Notice – Pre Stab Webuild SpA

    Source: GlobeNewswire (MIL-OSI)

    22/10/2024

    Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

    WEBUILD SpA

    Pre-stabilisation Period Announcement

    BNP Paribas (contact: Stanford Hartman telephone: 0207 595 8222 hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/2016/1052 under the Market Abuse Regulation (EU/596/2014).

    The securities:1  
    Issuer: Webuild Spa
    Guarantor (if any): N/A
    Aggregate nominal amount: EUR 400,000,000 expected 
    Description:  
    Offer price: TBC
    Other offer terms:  
    Stabilisation:  
    Stabilisation Manager(s) Banca Akros, BNP Paribas, BOFA, Goldman Sachs, HSBC, Intesa Sanpaolo, JPM, Natixis, Unicredit
    Stabilisation period expected to start on: 31/10/24
    Stabilisation period expected to end no later than: 30/11/2024
    Existence, maximum size and conditions of use of over‑allotment facility: The Stabilisation Manager(s) may over‑allot the securities to the extent permitted in accordance with applicable law.
    Stabilisation trading venue: OTC

    In connection with the offer of the above securities, the Stabilisation Manager(s) may over‑allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time. Any stabilisation action or over‑allotment shall be conducted in accordance with all applicable laws and rules.

    This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

    This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

    In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, the UK or any EEA Member State before the publication of a prospectus in relation to the securities which has been approved by the competent authority in the UK or that Member State in accordance with Regulation (EU) 2017/1129 (the “Prospectus  Regulation”) (or which has been approved by a competent authority in another Member State and notified to the competent authority in the UK or that Member State in accordance with the Prospectus Regulation), this announcement and the offer are only addressed to and directed at persons in the UK or that Member State who are qualified investors within the meaning of the Prospectus Regulation (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in the UK or that Member State.

    This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States. 

    The MIL Network –

    January 24, 2025
  • MIL-OSI Video: UK Watch live: Lords debates apprenticeships and technical education

    Source: United Kingdom UK House of Lords (video statements)

    Members are set to debate the key purpose of the Apprenticeships and Technical Education (Transfer of Functions etc) Bill on Tuesday 22 October. The aim of the bill is to abolish the Institute for Apprenticeships and Technical Education (IfATE) and transfer its statutory functions to the Secretary of State for Education, who in practice will defer these duties to the newly established Skills England.

    Find out more https://www.parliament.uk/business/news/2024/october/lords-debates-institute-for-apprenticeships-and-technical-education-bill/

    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 #StateOpening

    https://www.youtube.com/watch?v=Aj40OUNjWi0

    MIL OSI Video –

    January 24, 2025
  • MIL-OSI China: Foreign holdings of renminbi bonds reach historic high

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 22 — The yield on renminbi bonds has been good since the start of the year, attracting foreign investors to increase their holdings, an official with the State Administration of Foreign Exchanges said on Tuesday.

    Up till now, foreign holdings of domestic renminbi bonds have exceeded 640 billion U.S. dollars, reaching a historic high, Li Hongyan, deputy head of the administration, told a press conference.

    “Overall, holdings of renminbi assets by foreign capital help to diversify the participants in the domestic market, enhance market liquidity, and promote a more active and international development of the domestic capital market,” Li said.

    The administration will continuously improve investment facilitation, create a favorable investment environment, promote high-level financial opening up to the outside world, and actively support foreign investors in participating in the Chinese capital market, Li added.

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI China: Expressway in SW China’s Guizhou to begin trial operations

    Source: People’s Republic of China – State Council News

    Expressway in SW China’s Guizhou to begin trial operations

    Updated: October 22, 2024 15:58 Xinhua
    An aerial panoramic drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. With a total length of 74.754 kilometers, the expressway is expected to begin trial operations this year, cutting travel time between two counties to about one hour. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI United Kingdom: Fly-tipping fines increased in efforts to tackle the culprits

    Source: City of Coventry

    Coventry City Council has increased fly-tipping fixed penalty notices (FPNs) to £1000 to further support its efforts to tackle fly-tipping in the city.

    Until now it was £200 for fly-tipping / duty of care and £100 for littering.

    Councillors are hoping that the new £1,000 FPN for fly-tipping acts as even more of a deterrent.

    The fines serve as a clear warning that illegal waste disposal will not be tolerated, and offenders will face serious consequences.

    Cllr Abdul Salam Khan, Deputy Council Leader, said: “Residents and councillors have been calling for an increase in the FPNs and we’ll monitor the impact this has.

    “There are neighbourhoods in the city where there is a higher amount of fly-tipping incidents, and that’s why we are also publishing our Wall of Shame video coverage of the perpetrators.  We are making people aware that they will be caught.

    “Anyone who witnesses fly-tipping can report it anonymously and we also have officers who are out and about in hotspots.

    “We investigate, take action and we use all legal options available to us wherever we find fly-tipping. We are really determined to help improve neighbourhoods.”

    The latest Wall of Shame video, published on Coventry City Council’s social media channels today (22 October) shows more fly-tippers flouting the law, in this latest footage leaving pushchairs and binbags on street corners in the city.

    The cameras are located at hotspots in the city to help to crackdown on the problem.

    Over the last twelve months alone the Council has had to deal with almost 6000 (5883) instances of fly-tipping. 

    Officers do regular checks across the city and deal with fly tipped materials on our land straight away. They also routinely serve notices on tenants, landlords and landowners to clear their land and make repairs on their properties.

    Over the last year they’ve served over 900 notices, and issued 250 fixed penalties for waste related offences. The Council is hoping the much higher fines of £1000 will act as even more of a deterrent.

    Members of the public are being encouraged to report anyone they recognise in the video by emailing flytipping-cctv@coventry.gov.uk or anonymously by going to https://www.coventry.gov.uk/flytipping or calling 08085 834333. 

    The latest Wall of Shame can be watched on the Council’s YouTube now. 

    Published: Tuesday, 22nd October 2024

    MIL OSI United Kingdom –

    January 24, 2025
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