Category: Machine Learning

  • MIL-OSI: WISeKey Subsidiary WISeSat to Launch Second Proof of Concept for SEALCOIN Token

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Subsidiary WISeSat to Launch Second Proof of Concept for SEALCOIN Token

    Zug, Switzerland – October 14, 2024: WISeKey International Holding AG (“WISeKey”, SIX: WIHN), a global leader in cybersecurity, blockchain, and IoT solutions, today announced that its subsidiary, WISeSat.Space (“WISeSat”), will conduct the second Proof of Concept (PoC) for SEALCOIN by transacting tokens via satellites to IoT devices. The PoC is set to take place during the launch of a new generation of WISeSat satellites, planned for January 2025. This milestone, once complete, will represent a major leap forward in secure, autonomous machine-to-machine (M2M) transactions using WISeSat’s current satellite constellation.

    The launch of a new generation of WISeSat satellites will feature enhanced operational capabilities specifically designed to support M2M transactions from space. These next-generation satellites will further strengthen the WISeSat constellation, enabling secure and efficient decentralized transactions across a wide range of IoT devices, marking a new era in space-based digital ecosystems.

    This PoC will demonstrate SEALCOIN’s groundbreaking potential to facilitate decentralized transactions in the growing Internet of Things (IoT) ecosystem. Leveraging the SEALCOIN platform, the PoC will enable satellite-initiated transactions to IoT devices without human intervention. The tokens, based on Decentralized Ledger Technology (DLT), ensure secure, transparent, and tamper-proof exchanges, driving the creation of a scalable Transactional IoT (t-IoT) infrastructure.

    Previously, SEALCOIN successfully conducted a Proof of Concept (PoC) for Transactional-IoT (t-IoT) between two devices in early August. This milestone marked a significant step forward in the disintermediation of service providers for interconnected devices, showcasing the transformative potential of SEALCOIN’s innovative platform. For a video presentation of the initial PoC, please visit https://youtu.be/daOvoOxqGvQ.

    Transactional-IoT refers to the automated communication and transactions between devices within the Internet of Things (IoT) ecosystem. SEALCOIN’s PoC demonstrates the use of advanced technology embedded within a semiconductor device to validate and verify transactions autonomously. At the heart of this innovation is the Secure Element, an embedded security hardware that protects the private key and certificate representing the device’s unique identity. Leveraging elliptic curve cryptography (ECC) compatible with Hedera’s Decentralized Ledger Technology (DLT), the device can simultaneously authenticate and sign transactions on-chain.

    SEALCOIN AG

    Backed by over 25 years of experience in cybersecurity and secure semiconductor chips, embedded firmware, and trusted hardware provisioning services, SEALCOIN AG, the WISeKey subsidiary housing the SEALCOIN project, is establishing itself as a trusted partner in safeguarding digital assets. SEALCOIN AG was formed in collaboration with The Hashgraph Group AG, and is poised to revolutionize decentralized services and IoT markets.

    The SEALCOIN platform will seamlessly integrate physical security infrastructure with DLT components, bridging the gap between traditional secure systems and the decentralized digital future. The platform will ensure that all autonomous device interactions occur within a transparent, secure ecosystem, with SEALCOIN’s TIOT token serving as the key enabler of these interactions. This system is designed to eliminate bottlenecks and vulnerabilities associated with centralized transaction models, ushering in a new era of M2M transactions.

    Bridging Satellite and IoT Ecosystems

    SEALCOIN’s first PoC was a success, validating the feasibility of M2M transactions within a terrestrial framework. The second PoC will expand this capability to space-based systems, with SEALCOIN tokens transacted via WISeSat’s satellite constellation to IoT devices on the ground. This innovative approach demonstrates the scalability of decentralized infrastructures to handle real-world applications, from energy trading to automated service exchanges.

    Towards a Decentralized IoT Marketplace

    With SEALCOIN’s TIOT token, IoT devices can autonomously negotiate, execute, and settle transactions securely, without the need for human intervention or centralized intermediaries. This decentralized marketplace allows devices to participate in service-for-payment exchanges and other automated processes, all powered by SEALCOIN’s TIOT token.

    Carlos Moreira, CEO of WISeKey, commented, “This PoC marks an important step towards enabling seamless, decentralized M2M transactions from space. With the SEALCOIN token and WISeSat’s satellite infrastructure, we are moving closer to a future where IoT devices can securely and autonomously manage transactions across vast, interconnected ecosystems. The upcoming launch of the new generation of WISeSat satellites in January 2025 will further accelerate our vision of a decentralized, space-powered IoT network.”

    For more information on WISeSat, SEALCOIN, and their decentralized IoT solutions, please visit http://www.wisekey.com and http://www.sealcoin.com.

    About SEALCOIN AG
    SEALCOIN is a decentralized platform designed to facilitate secure, autonomous transactions between IoT devices. Built on Hedera Hashgraph, SEALCOIN allows devices to engage in seamless service-for-payment exchanges without the need for intermediaries. With a focus on privacy, scalability, and decentralized governance, SEALCOIN is poised to revolutionize the Internet of Things (IoT) landscape.

    About WISeSat.Space

    WISeSat AG is pioneering a transformative approach to IoT connectivity and climate change monitoring through its innovative satellite constellation. By providing cost-effective, secure, and global IoT connectivity, WISeSat is enabling a wide range of applications that support environmental monitoring, disaster management, and sustainable practices. The integration of satellite data with advanced climate models holds great promise for enhancing our understanding of climate change and developing effective strategies to combat its impacts. As the world continues to grapple with the challenges of climate change, initiatives like WISeSat’s IoT satellite constellation are essential for creating a more resilient and sustainable future.

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.

    WISeKey’s work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey’s post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.

    WISeKey operates as a holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    For more information on WISeKey’s strategic direction and its subsidiary companies, please visit http://www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd 
    Company Contact:  Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com
    WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611 / lcati@equityny.com
    Katie Murphy
    Tel: +1 212 836-9612 / kmurphy@equityny.com

    The MIL Network

  • MIL-OSI: BIO-key Accelerates Zero Trust Solutions at Industry-Leading Cybersecurity Conference, ISC² Security Congress 2024

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS and HOLMDEL, N.J., Oct. 14, 2024 (GLOBE NEWSWIRE) — BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring phoneless, tokenless, passwordless and phish-resistant authentication solutions, announced the company will sponsor, speak, and exhibit at ISC2 Security Congress 2024, in Las Vegas on October 14 – 16, 2024. BIO-key will be hosting a session on Passkeys. Passkeys and zero trust are core enabling concepts of the National Institute of Standards and Technology (NIST) guidance on cybersecurity for digital identities. Passkeys are identified as aiding adherence to NIST Authentication Assurance Levels (AAL) standards in the NIST 800-63B Passkey Supplementary Guidelines released in May 2024.  

    Passkeys have historically been stored or secured by phones, personal laptops or hardware tokens but many enterprise users work in phone-free, roving user environments. The cost of hardware tokens for thousands of users becomes a drain on critical security budgets. BIO-key’s core differentiator in the authentication category is allowing users to take advantage of a biometric passwordless authentication solution that does not require the use of phones or tokens. This unique capability fills a crucial business use case gap that traditional MFA overlooks – roving users working without phones, providing a secure authentication experience that reduces the total cost of ownership and provides the highest levels of usability and security. BIO-key’s award-winning unified IAM platform, PortalGuard®, has helped organizations of all sizes balance risk with flexibility and productivity for users and identity administrators. The company’s newest offering, Passkey:YOU brings a phoneless, tokenless, passwordless experience to any IdP via a managed passkey secured by a touch of a fingerprint or any door badge.

    The ISC2 Security Congress, themed “Boldly Forward,” brings together thousands of cybersecurity professionals and inspires attendees from all stages of the cybersecurity profession to elevate their careers, providing the opportunity to acquire new strategies, skills, and expertise to overcome the industry’s most pressing challenges.

    “Continuous Education is vital for security professionals to stay ahead of innovative threat actors,” states BIO-key’s Director of Marketing, Mary Roark, CISSP. “Conferences such as this provide attendees with interactive sessions where everyone can learn something new and put it into practice as soon as they return to the office.”

    Attendees are encouraged to stop by booth 716 or join the virtual conference to learn about BIO-key’s IAM solutions and the new Passkey: YOU. If you plan to attend the event, we invite you to our live speaking session: “Introducing Passkey:YOU – a Passwordless Authentication Solution that Checks All the Boxes.” Join us on Monday, October 14, from 12:45 to 1:10 PM PT in Theatre 1. 

    “From shared workstations to remote access, to users prohibited from having phones or tokens, enterprises face a complex and ever-changing landscape of access requirements,” said Galen Rodgers, VP of North America Sales & Channel. “Traditional authentication methods are insufficient, so security leaders attending ISC2 are exploring solutions that can offer flexibility to accommodate the needs of diverse users and use cases while maintaining the highest level of security. BIO-key is confident that adding passkeys and biometric authentication will accelerate their zero trust strategies.”

    RESOURCES:
    https://www.bio-key.com/identity-bound-biometrics/passkey-authentication/ 

    About BIO-key International, Inc. (http://www.BIO-key.com)
    BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

    BIO-key Safe Harbor Statement

    All statements contained in this press release other than statements of historical facts are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes,” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital to satisfy working capital needs; our ability to continue as a going concern; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; delays in the development of products, the commercial, reputational and regulatory risks to our business that may arise as a consequence the restatement of our financial statements, including any consequences of non-compliance with Securities and Exchange Commission (“SEC”) and Nasdaq periodic reporting requirements; our temporary loss of the use of a Registration Statement on Form S-3 to register securities in the future; any disruption to our business that may occur on a longer-term basis should we be unable to remediate during fiscal year 2024 certain material weaknesses in our internal controls over financial reporting,  and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network

  • MIL-OSI: AMD Expands Alveo Portfolio with Launch of World’s Fastest Electronic Trading Accelerator in Slim Form Factor for Broad, Cost-Effective Server Deployments

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Oct. 14, 2024 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announced the AMD Alveo™ UL3422 accelerator card, the latest addition to its record-breaking family of accelerators1 designed for ultra-low latency electronic trading applications. AMD Alveo UL3422 provides trading firms, market makers and financial institutions with a slim form factor accelerator optimized for rack space, cost and designed for a fast path to deployment in a wide range of servers.

    The Alveo UL3422 accelerator is powered by an AMD Virtex™ UltraScale+™ FPGA that features a novel transceiver architecture with hardened, optimized network connectivity cores, custom built for high-speed trading. It enables ultra-low latency trade execution, achieving less than 3ns FPGA transceiver latency and breakthrough ‘tick-to-trade’ performance not achievable with standard off-the-shelf FPGAs1.

    “Speed is the ultimate advantage in the increasingly competitive world of high-speed trading,” said Yousef Khalilollahi, corporate vice president & general manager, Adaptive Computing Group, AMD. “The Alveo UL3422 card provides a lower-cost entry point while still delivering cutting-edge latency performance, making it accessible to firms of all sizes that want to stay competitive in the ultra-low latency trading space.”

    New Slim Form Factor for Cost-Effective Deployment
    The Alveo UL3422 accelerator card is packaged in a slim FHHL (full height, half length) form factor designed to fit into a wide range of servers and co-location exchange data centers.

    Compared to its predecessor, the Alveo UL3422 accelerator reduces port density, on-board memory, and connectivity options, while still being powered by the same AMD Virtex UltraScale+ VU2P FPGA for ultra-low latency.

    As a result, the Alveo UL3422 is half the size with equivalent performance to the existing Alveo UL3524 accelerator card which holds the current STAC-T0 benchmark world record for tick-to-trade performance1. The slim FHHL form factor of the Alveo UL3422 allows financial institutions to cost-effectively optimize compute density and rack-space.

    Ecosystem Solutions and Fast Path to Trade
    The Alveo UL3422 accelerator card is designed for a fast path to deployment by utilizing available infrastructure ecosystem solutions and reference designs, giving trading developers the edge they need for rapid design closure and time to market.

    It is supported by a growing network of ecosystem partner solutions that provide IP and development frameworks to enable the rapid implementation of trading solutions.

    • Exegy, a provider of end-to-end, front-office trading solutions, is supporting the AMD Alveo UL3422 card with its Development Framework (nxFramework). nxFramework is a hardware and software development environment designed to efficiently build and maintain ultra-low latency FPGA applications for the financial industry.
    • Hypertec, a provider of hardware, cloud, and value-added solutions for the financial services industry, has closely collaborated with AMD. The company’s HF X410R-G6 server is certified to support the Alveo UL3422 accelerator, making it the first 1U server fully optimized for this card.
    • Xelera Technologies, a software provider for high-speed network technology and machine learning (ML) applications, collaborated with AMD to help overcome the latency drawback of ML algorithms in high-frequency trading. With Xelera Silva users can take advantage of real-time, ML-based trading decisions while leveraging XGBoost, LightGBM, CatBoost and other advanced models.

    The Alveo UL3422 supports traditional FPGA flows using the AMD Vivado Design Suite and comes with a suite of reference designs and performance benchmarks that allow FPGA designers to quickly explore key metrics and develop custom trading strategies to specification.

    AMD is also providing developers with the open-sourced and community-supported FINN development framework, enabling low-latency AI models to be deployed into high-performance trading systems. FINN uses PyTorch and neural network quantization techniques designed to reduce the size of AI models while maintaining accuracy. The FINN compiler generates Quantized Neural Network (QNN) Hardware IP blocks that can be used with AMD FPGAs.

    The AMD Alveo UL3422 accelerator card is currently available and shipping in production volumes to global financial services customers.

    Supporting Resources

    About AMD
    For more than 50 years AMD has driven innovation in high-performance computing, graphics, and visualization technologies. Billions of people, leading Fortune 500 businesses, and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work, and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) websiteblogLinkedIn, and Twitter pages.

    AMD, the AMD Arrow logo, Alveo, UltraScale, Virtex, Vivado and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

    1 The 2024 AMD world record for actionable latency is based on 3rd party testing commissioned by AMD and Exegy, by Strategic Technology Analysis Center, LLC (STAC®) in April 2024, using the STAC-T0 benchmark to test the AMD Alveo UL3524 accelerator card powered by the AMD Virtex Ultrascale+ VU2P FPGA, running on the Exegy nxFramework and Exegy nxTCP-UDP-10g-ULL IP Core, in a Dell PowerEdge R7525 server with AMD EPYC 7313 processors. See https://stacresearch.com/news/AMD240422 for the full STAC report. AMD holds the previous world record for latency (2020): https://www.stacresearch.com/news/XLX200514. Stated results for the Alveo UL3524 accelerator have been extrapolated to the AMD Alveo UL3422 card based on identical silicon and product features. (ALV-20).

    Media Contacts:
    Mike Sanchez
     AMD Communications
    +1 209-262-7458
    M.Sanchez@amd.com

    Mitch Haws
    AMD Investor Relations
    +1 408-749-2845
    Mitch.Haws@amd.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/416bce0e-416e-4cd3-8e25-a89b97c24f09

    The MIL Network

  • MIL-OSI: LPL Financial Welcomes Financial Advisor Ashton Medina

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Oct. 14, 2024 (GLOBE NEWSWIRE) — LPL Financial LLC, announced today that financial advisor Ashton Medina, CFA®, CFP®, has joined LPL Financial’s broker-dealer and corporate RIA platforms, aligning with existing firm GradePoint Financial Group. He reported having served approximately $155 million in advisory, brokerage and retirement plan assets* and joins LPL from Synovus Securities.

    Based in Miami, Fla., Medina is in his fifth year as an advisor following an initial career as a portfolio manager at a private bank. He’s committed to delivering a broad spectrum of wealth management and financial planning services, with a focus on education to help his clients better understand the complexities of their financial lives.

    “I am very passionate about the world of investments,” said Medina, who immigrated from Colombia after graduating high school at age 16. “Transitioning from a portfolio manager to a financial advisor has allowed me to provide clients with a more holistic approach to their needs, so that I can address every facet of their finances and offer a higher level of value.”

    Looking for independence and the autonomy to run his business on his own terms, Medina turned to LPL and GradePoint.

    “I’m excited to be part of LPL and GradePoint Financial Group,” said Medina. “I really appreciate LPL’s comprehensive digital platform with single sign-on where I can access everything in one place. This will allow me to expand my service offering and create more positive experiences for clients. I am also impressed with GradePoint’s localized support and dedicated resources.”

    Jeff Hughes, President of GradePoint Financial Group, said, “We’re thrilled to welcome our newest team member, Ashton Medina, to Gradepoint Financial. Ashton excels at transforming intricate challenges into customized solutions, especially in unique situations. With a keen focus on multi-generational wealth and estate planning, his personalized approach and attention to detail make him a great addition to our team. Welcome Ashton!”

    Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Ashton to LPL and congratulate him on making the move to independence. At LPL, we’re committed to delivering differentiated support services and robust resources, along with the freedom, choice and ability advisors need to build a business of value on their own terms. We look forward to supporting the entire GradePoint Financial Group for years to come.”

    Related

    Advisors, learn how LPL Financial can help take your business to the next level.

    About LPL Financial

    LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

    Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor.
    Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. GradePoint Financial Group and LPL Financial are separate entities.

    Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

    We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

    *Value approximated based on asset and holding details provided to LPL from end of year, 2023.

    Media Contact: 
    Media.relations@LPLFinancial.com 
    (704) 996-1840

    Tracking #641811

    The MIL Network

  • MIL-OSI: Turtle Beach Drives Growth in Key International Markets, Including Canada & Key Territories in Latin America

    Source: GlobeNewswire (MIL-OSI)

    Canadian Gamers Can Now Find the Latest
    Turtle Beach Gaming Accessories at Best Buy Canada

    Turtle Beach Launches a Variety of New Gaming Accessories
    in Mexico & Colombia & Expands into Chile

    WHITE PLAINS, N.Y., Oct. 14, 2024 (GLOBE NEWSWIRE) — Leading gaming accessories maker Turtle Beach Corporation (Nasdaq: HEAR) is bringing its best-selling and award-winning gaming accessories to more gamers in key international markets, including Canada and Latin America.

    In Canada, Turtle Beach’s latest Stealth™ 700, Stealth 600, and Stealth 500 wireless multiplatform headsets, Atlas Air wireless PC headset, Vulcan II TKL Pro PC gaming keyboard, and Burst™ II Air PC gaming mouse are now available at Best Buy Canada. Top Canada-based publication CGMag recently gave the Stealth 700 and Atlas Air 9/10 review scores and awarded the Vulcan II TKL Pro a 9.5/10. All three also received CGMag’s Editor’s Choice accolade. CoG Connected – another popular publication based in Canada, also awarded the Stealth 700 a 93/100 score, while the Best Buy Canada Blog recommends both the Stealth 600 and Stealth 500 headsets. French-Canadian fansite GpourGeek reviewed the Atlas Air with a 9.5/10 review score, the Vulcan II TKL Pro with a 9.7/10 review score, and additionally gave the Burst II Air mouse a 9.1/10 score.

    In Latin America, Turtle Beach continues growing in key markets, including adding more gaming accessories to the catalogue of what’s available in Mexico and Colombia, as well as focusing on new growth opportunities in Chile. This Latin America product catalog expansion includes gaming accessories from both Turtle Beach and Performance Designed Products LLC (PDP) – a top gaming accessories maker Turtle Beach acquired earlier in 2024 known for creating premium game controllers and unique, officially licensed products.

    “We’re excited to expand Turtle Beach’s global reach and put our game-changing accessories in more gamers’ hands,” said Cris Keirn, CEO, Turtle Beach Corporation. “With Best Buy Canada, gamers now have another major option to shop for Turtle Beach and PDP gaming accessories, both in stores and online, which we expect to further improve our leading share position in Canada over time.”

    Keirn continued, “In Latin America Turtle Beach has had a steady and growing presence in Mexico, Colombia, and Panama. We’re excited to fill out our range of products with the latest, top-rated accessories, and to now deliver these fantastic Turtle Beach and PDP gaming accessories into Chile.”

    In Mexico and Colombia, Turtle Beach has been an established gaming accessories brand for years and is preparing to launch its latest Stealth 600 and Stealth 500 wireless multiplatform headsets and wired Recon 70 models, as well as the premium wireless Stealth Ultra controller. Also, from Turtle Beach’s PDP brand, gamers in Mexico and Colombia will now also be able to get their hands on a variety of officially licensed REMATCH GLOW and Afterglow Wave wired and wireless controllers for Xbox, PC, and other game systems. In Colombia, the new Turtle Beach and PDP gaming accessories just launched at retailers including Alkosto, Ktronix, Panamericana, and Alkomprar. In Mexico, the new gaming accessories launch October 24, 2024, at retailers including Elektra, Gameplanet, Wal-Mart Mexico, Liverpool, Sanborns, Sears, and Amazon.

    Turtle Beach and PDP are also underway with plans to introduce a variety of proven, top-performing accessories to gamers in Chile. Following the Mexico and Colombia launches, in Chile on November 7, 2024, Turtle Beach is also introducing the Stealth 600 and Stealth 500 wireless headsets, Recon 70 wired headsets, and premium wireless Stealth Ultra controller. Officially licensed REMATCH GLOW and Afterglow Wave controllers from PDP will also be available at participating retailers including Paris and Falabella.

    For more information on the latest Turtle Beach products and accessories available in Canada and Latin America, visit https://ca.turtlebeach.com and https://latam.turtlebeach.com, and be sure to follow Turtle Beach on TikTok, Twitter, Instagram, Facebook, and YouTube. For more information on the latest PDP products and accessories, visit http://www.pdp.com and http://www.victrixpro.com.

    About PDP
    PDP is an industry leader and award-winning provider of high-quality licensed peripherals and accessories for all major video game platforms. PDP believes that design-forward, high-performance gear should be as unique and accessible as the gaming community itself. From beginner to professional, PDP’s product lines offer uncompromising performance and striking designs that transport gamers into seamless, immersive experiences where competition, connection, and personal expression are limitless. Victrix by PDP is purpose built for esports athletes and enthusiasts looking for unmatched performance and competitive advantage. For over 25 years, PDP has been supplying video game peripherals and accessories to major retailers across the world, including retailers in the United States, Canada, Europe, and Australia. For more information, visit http://www.pdp.com and http://www.victrixpro.com.

    About Turtle Beach Corporation
    Turtle Beach Corporation (the “Company”) (http://www.turtlebeachcorp.com) is one of the world’s leading gaming accessory providers. The Company’s namesake Turtle Beach brand (http://www.turtlebeach.com) is known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories. Innovation, first-to-market features, a broad range of products for all types of gamers, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. Turtle Beach Corporation acquired Performance Designed Products LLC (http://www.pdp.com) in 2024. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: HEAR.

    Cautionary Note on Forward-Looking Statements
    This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “goal,” “project,” “intend” and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements are only predictions and are not guarantees of performance. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. Forward-looking statements are based on management’s current beliefs and expectations, as well as assumptions made by, and information currently available to, management.

    While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to logistic and supply chain challenges and costs, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business, including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, liquidity, and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other periodic reports filed with the Securities and Exchange Commission. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

    All trademarks are the property of their respective owners.

    CONTACTS:

    North America
    Eric Nielsen
    Step 3 Public Relations
    202.276.5357
    eric@step-3.com

    MacLean Marshall
    Sr. Director, Global Communications
    Turtle Beach Corporation
    858.914.5093
    maclean.marshall@turtlebeach.com

    Europe
    Keith Hennessey
    Sr. Director, Communications &
    Partnerships – International
    Turtle Beach
    +44 (0) 1256 678350
    keith.hennessey@turtlebeach.com

    Investor Information
    ICR
    646.277.1285
    hear@icrinc.com

    The MIL Network

  • MIL-OSI Economics: Samsung Galaxy Ring, S24 Ultra and Z Flip6 Power Red Bull Rampage

    Source: Samsung

    Samsung Galaxy’s collaboration with Red Bull continued this month with the premier big mountain freeride mountain biking event, Red Bull Rampage, including the first ever all-female competition. Each rider and their team faced a daunting task: they had eight days to construct the lips, landings, and lines needed to travel from the top of the mountain to the finish line, with only water, hand tools, and 75 sandbags.
    Previously, the impact of this grueling challenge could only be described in words. Now, with the help of Galaxy Ring, teams tracked the physical and mental readiness of their riders daily prior to and during the event and received personalized recommendations on how to improve their routine. When the competition kicked off, Galaxy S24 Ultra captured the heart-pumping race and all its electric moments. Galaxy Z Flip6 also helped athletes capture their own practice sessions using FlexCam – no tripod or help needed to capture the perfect shot.

    “Galaxy Ring and Galaxy Smartphones just highlighted yet another example of how innovative devices can offer thrilling experiences” said Simon Callan, Head of Partnerships at Samsung Electronics America. “Red Bull Rampage was the perfect opportunity to show off Galaxy S24 Ultra’s stunning camera as well as Galaxy Ring’s groundbreaking features — from sleep analysis to Wellness Tips — which supports athletes’ recovery time by offering personalized advice based on their sleep, activity, and more.”
    Red Bull competitions are synonymous with daring challenges and Galaxy Ring kept up with world-class athletes, Casey Brown and Kurt Sorge, all day and night. In the eight-day lead-up to the competition, each rider and team was hard at work envisioning and creating the best path down the mountain. Throughout this process, Galaxy Ring tracked activity levels, sleep quality, and so much more — delivering a daily Energy Score that encapsulated their rider’s readiness. Teams used these scores to determine how much rest their rider needed to ensure peak performance on race day. During the competition, these daily scores were shared on the broadcast, highlighting the impact of the preparation, and how Galaxy Ring’s personalized tips provided the competitors with the tools they needed to succeed.

    “The minimalist design of the Galaxy Ring is perfect for my lifestyle. I can’t believe how much technology they fit into such a small piece of jewelry, which helped inform my recovery,” said Casey Brown. “I don’t even notice it during my daily activities, like digging or riding my bike. I can even sleep with it on without noticing it’s there.”
    Red Bull Rampage was filled with excitement from start to finish — featuring jaw-dropping action, close races, and iconic victories. To capture these memorable moments, Galaxy S24 Ultra’s 200MP camera was on hand. Powered by the innovative ProVisual Engine, Samsung Galaxy’s comprehensive suite of AI-powered tools, Galaxy S24 Ultra was prepared for anything. That included capturing riders at the top of the mountain using 100x magnification or taking advantage of its groundbreaking Nightography enhancements — allowing for crystal-clear photos from the early morning to late at night.
    For more information about Samsung’s latest devices, including Galaxy S24 Ultra and Galaxy Ring, visit Samsung.com.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Chancellor announces new plans to secure UK investment

    Source: United Kingdom – Executive Government & Departments

    The Chancellor closes the International Investment Summit promising the government is bringing investment and jobs back to Britain.

    In a speech to some of the world’s biggest businesses and investors, Rachel Reeves revealed that restoring fiscal stability will be at the centre of her first Budget on 30 October. She made the case that it is the only way to ensure government and business can invest with confidence. 

    The Chancellor went on to set out how two new bodies will drive long-term investment in Britain as the government works hand in hand with business to create new high skilled jobs right across the UK, helping make people better off. 

    Chancellor of the Exchequer Rachel Reeves, MP said: 

    When we said we would end instability, make growth our national mission and enter a true partnership with business we meant it.  

    The decisions which lie ahead of us will not always be easy. But by taking the right choices to grow our economy and drive investment we will create good jobs and new opportunities across every part of the country. That is the Britain we are building. 

    The first announcement from the Chancellor was that from today the UK Infrastructure Bank will operate as the National Wealth Fund (NWF), with its headquarters in Leeds. 

    The National Wealth Fund will catalyse tens of billions of pounds of private investment into in the UK’s clean energy and growth industries, including green hydrogen, carbon capture and gigafactories.

    Building on UKIB’s leadership and expertise, the NWF will go further, able to make investments that maximise the mobilisation of private investment. This will include the ability to trial new blended finance solutions with government departments that take on additional risk to facilitate higher impact in individual deals and performance guarantees. 

    The National Wealth Fund will have a total of £27.8 billion and will work with key industry partners, including mayors, to support delivery of their investment plans. 

    The Government will also bring forward legislation to give the NWF a broader mandate than just infrastructure, ensuring it is a permanent part of government’s investment offer. 

    John Flint, CEO, at the National Wealth Fund said: 

    It is a huge privilege to be entrusted with the responsibility of leading the National Wealth Fund. Building on the strong foundations we have laid as UKIB, we will hit the ground running, using sector insight and investment expertise that the market knows and trusts to unlock billions of pounds of private finance for projects across the UK.

    With additional capital to deploy against a bigger mandate, we stand ready to help the market invest with confidence, in support of the Government’s growth ambitions.

    Alongside this the Chancellor, together with Secretary of State for Business and Trade Jonathan Reynolds, announced a new British Growth Partnership as part of the British Business Bank (BBB). 

    The BBB already supports the UK’s fastest growing, most innovative companies deploying £3.5bn to support over 23,000 businesses last year. 

    The British Growth Partnership will allow it to do more by creating a new way for the British Business Bank and institutional investors to invest in innovative companies together.

    Leveraging the British Business Bank’s market expertise, these long-term investments will be made independently of government on a fully commercial basis. In the coming months, the British Business Bank will seek to raise hundreds of millions of pounds of investment for this fund, with the aim of making investments by the end of 2025.

    Additionally, the government will implement a set of reforms to the British Business Bank’s financial framework that will increase its impact and increase its ability to respond flexibly to the market, including by putting the British Business Bank’s £7.9bn set of commercial programmes on a permanent footing.

    Louis Taylor, CEO, British Business Bank said:

    Today’s announcement is a strong endorsement of the British Business Bank’s 10-year track record, market access and capabilities. By establishing the British Growth Partnership, the Bank will encourage more UK pension fund investment into the UK’s fastest growing, most innovative companies. 

    In addition, reforms to the Bank’s financial framework, putting our £7.9bn commercial programmes on a permanent footing, means we can flexibly re-invest our investment returns over the long term to increase growth and prosperity across the UK.

    Today’s measures follow the Government announcing more than £24 billion of private investment for pioneering energy projects and thousands of jobs in the green industries secured ahead of International Investment Summit.

    This adds to the announcement last week that up to 500 UK manufacturing jobs are set to be supported as bus operator Go Ahead confirms a major £500 million investment to decarbonise its fleet. This includes creating a new dedicated manufacturing line and partnership with Northern Ireland-based UK bus manufacturer Wrightbus.    

    And it also builds on the Government confirming funding to launch the UK’s first carbon capture sites in Teesside and Merseyside. Two new carbon capture and CCUS enabled hydrogen projects will create 4,000 new jobs, in a boost for the economy and British industry, helping remove over 8.5 million tonnes of carbon emissions each year – the equivalent of taking around 4 million cars off the road.    

    Further quotes:

    Dame Julia Hoggett, CEO, London Stock Exchange Plc said:

    It is critically important for the growth of the UK economy that home grown companies are able to access the investment they need to grow, scale and stay in the UK. 

    Access to meaningful UK capital at the scaling phase has been a long-recognised challenge and so we are delighted that British Growth Partnership is being established to help address this problem. This will also facilitate more investment by UK pension schemes into scaling UK companies, providing greater returns for their savers and giving UK investors a greater stake in the UK economy.

    Sir Nicholas Lyons, Group Chair, Phoenix said:

    The UK needs scale and skills to convert our brilliant science and technology start-ups and university spinouts into the successful and sustainable companies of tomorrow.  British Growth Partnership will complement the private sector DC pension industry’s undertakings under the Mansion House Compact to expedite this, directing investment to deliver the best returns for our pension savers.

    Professor Sir John Bell, President, Ellison Institute of Technology said:

    Making sure the best innovative British companies can access the capital they need to scale and stay in the UK is critical for the future of the economy. The Chancellor’s announcement today of the new British Growth Partnership, in addition to confirming £7.9bn of permanent capital for the British Business Bank, are both very welcome and significant steps forward in solving this problem

    Sir Jonathan Symonds CBE, Non-Executive Chair, GSK said:

    This is a welcome step; encouraging institutional investment into the UK’s high-growth-potential companies can provide a real boost to the economy and generate better returns for individuals’ pension investments

    Brent Hoberman, Chairman and Co-Founder, Founders Forum Group, Founders Factory, firstminute capital said:

    It’s great to see the new government taking concrete steps to amplify the Mansion House reforms.   This new British Growth Partnership should help UK startups access further scale up capital to create more world leaders.

    Saul Klein, Co-founder, Phoenix Court and Member of the Council for Science and Technology said:

    The UK has more than 750 venture backed companies generating more than $25m in revenue – this is more than France, Germany, Sweden and the Netherlands combined. These companies have created over 200,000 new jobs and continue to grow but the UK still has $35bn less scale up capital to support these companies than the United States’ Bay Area alone.

    The government’s continued support for the British Business Bank and its focus on addressing this scale up opportunity will be very much welcomed by these 750 companies as well as the cohorts coming behind them.

    Peter Harrison, Group Chief Executive, Schroders plc said:

    These are further helpful initiatives in creating an environment where risk capital can flow into strategically important industries. Every step is welcome in supporting future economic growth.

    Edward Braham, Chairman, M&G said:

    We welcome the creation of the British Growth Partnership which should unlock much needed investment into the UK’s high growth innovative businesses.

    The combination of private and public sector partnerships, underpinned by long term patient capital, is essential to create the conditions for sustainable growth. 

    As a leading international investor, M&G has a proud history of supporting the progress of businesses and communities across the UK, investing in new innovative companies and private assets such as housing, hospitals and transport.

    Steve Bates OBE, CEO of the BioIndustry Association, said:

    Our world-leading, innovative life sciences and biotech sector is a unique competitive advantage for economic growth. The sector attracts expert global investors but a lack of investment from UK-based institutional investors means the economic and social returns are too often lost overseas.

    The British Growth Partnership will help turbo-charge innovative businesses with fresh UK-based capital, enabling them to scale in the UK and deliver more returns to the British economy, and to ordinary people saving for their retirement. This is a win-win-win for UK life science businesses, for UK pension savers and for the forward-thinking financial services sector.

    Kate Bingham, Managing Partner, SV Health and Former Chair UK Vaccine Taskforce welcomed the announcements saying:

    The UK has the potential to be a global leader and hub for healthcare breakthroughs with its strong entrepreneurial and academic base, together with our expertise and innovation in data science and artificial intelligence.

    Making the British Business Bank independent of government as well as launching the British Growth Partnership enables the Bank to catalyse institutional investment, including from pension funds, into brilliant UK companies that are supercharging the development of revolutionary medical treatments including smarter medicines for cancer, Alzheimer’s and blindness.

    Dom Hallas, Executive Director, Startup Coalition said:

    Tech startups and scaleups need a stable and improving funding environment to compete globally. The British Business Bank’s role in helping create that landscape is critical and today’s announcement will help the UK continue to build VC-backed tech companies across the country that are ready to compete with the very best.

    Michael Moore, Chief Executive, BVCA said:

    It is extremely welcome that the Government and the British Business Bank have brought this hugely significant programme forwards so quickly.

    The prize is to get significant new capital into the growth equity and venture capital funds that are creating new industries and backing innovative businesses that will be the backbone of the British economy of tomorrow. The British Business Bank has a vital role catalysing institutional investment into fast growing British businesses and this announcement will boost that work substantially.

    Just 3% of the pensions investment into UK led growth equity and venture capital funds is from UK pension funds. Alongside the Government’s pensions review this major new vehicle can be the start of a major shift that sees UK pensions savers get the improved retirement income that can come from backing funds which deliver active ownership and long-term investment in business.

    Kerry Baldwin, Co-Founder, Managing Partner, IQ Capital said:

    The launch of the British Growth Partnership and the confirmation of a permanent capital allocation for the British Business Bank are two crucial steps forward in solving the lack of access to domestic capital for the UK’s most promising growth companies.

    I very much welcome the Chancellor’s announcement today, she has been hugely engaged with the venture capital and technology sector, and champions the incredible societal impact that our sector enables through investments into innovative technologies across the UK.

    The British Business Bank has been at the heart of powering the next generation of UK venture and growth funds and the launch of the new fund is welcome as part of the pension reforms.  This fund will enable access to world-leading science and innovative investments which increase productivity by transforming legacy industries through the adoption of novel technologies and also by providing growth capital to the next generation of globally leading frontier technologies which are solving pressing critical global issues from climate change to energy transition.

    Dr Andrew Williamson, Managing Partner, Cambridge Innovation Capital, and member of BVCA Council said:

    Since its formation in 2018, British Patient Capital has played a central role in the growth of the UK’s knowledge-intensive innovation ecosystem.  It has built a world leading team and investment platform with a strong track record of investing in UK deeptech and life sciences companies and the venture capital funds that support these companies. 

    The British Growth Partnership will make the Bank’s extensive expertise available to a broader range of institutional investors, providing attractive returns for those investors and increasing the capital available for leading UK start-up and scale-up businesses.

    Duncan Johnson, Chief Executive Officer, Northern Gritstone said:

    We at Northern Gritstone believe that skilled partnerships that channel patient investment into long-term growth and innovation are more important than ever for the UK. 

    By establishing the British Growth Partnership, the British Business Bank is creating a pathway for pension funds and institutional investors to support the future today. Through investment we can create and scale the world class businesses of tomorrow in the UK which is the platform for growth for our economy over the decades to come.

    Irene Graham OBE, CEO, ScaleUp Institute said:

    The ScaleUp Institute has long evidenced the important role of development banks and Sovereign Wealth Funds to global scaleup economies.  The Government’s  placement of the British Business Bank commercial initiatives into permanency, with greater  flexibility, alongside the creation of the great British Growth Partnership are very much welcome and represent significant milestones for the UK economy. 

    Alongside a National Wealth Fund these entities and commitments should further address structural, regional and sectoral disparities and ensure our innovative scaling businesses across the country are better connected, at all stages of growth, to the vital patient capital and institutional funds to enable their global scale and continue to foster our international competitiveness.

    Lisa Quest, Managing Partner UK and Ireland, Oliver Wyman:

    Today’s announcement is a significant milestone for the UK economy. The National Wealth Fund will increase investment across key sectors and accelerate the UK’s clean energy transition. I look forward to the many contributions this initiative will unlock for years to come.

    Dr Rhian-Mari Thomas, Chair of the Taskforce and CEO of the Green Finance Institute said:

    The NWF creates an opportunity for simplification and scale. The challenge now is to ensure it delivers private capital at the pace we need, through innovative risk-sharing transactions in new technologies.


    On top of today’s announcements, the government expects both successful bidders of the Long-Term Investment for Technology and Science (LIFTS) competition, Schroders and ICG, to begin making investments via their new funds in late 2024. Supported by pensions capital from Phoenix Group, the aim is to generate over a billion pounds of investment into UK science and technology companies.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Economics: Shaktikanta Das: Central banking at crossroads

    Source: Bank for International Settlements

    feel highly privileged to be here at this High Level Conference on ‘Central Banking at Crossroads’ and share some of my thoughts. When the definitive history of our times is written, the turn of the current decade will, in all probability, be regarded as a watershed in the evolution of central banking. In the aftermath of the COVID-19 pandemic and the persistent geopolitical strife thereafter, central banks are treading in the uncharted terrain of a twilight zone. Today, like never before in the five centuries of their existence, central banks are confronted with a future where their mandates, their functions and their performances are all up for unforgiving scrutiny.

    Around them, the environment in which central banks have been operating is undergoing tectonic transformations. Structural changes are underway that have the power to fundamentally alter the context of central banking with headwinds from geo-economic fragmentation; muscular industrial, trade and financial policies that are already reshaping supply chains and the availability of critical minerals, intermediates, resources and services; new technologies; and climate change. In this rapidly evolving environment, central banks are required to navigate not just known unknowns but unknown unknowns too.

    Yet, even at these exceptional intersections, central banks are exploring new pathways and striving to reinvent their remit and functioning as the guardians of financial stability. Their effort is to stay ahead of these developments by strengthening guardrails and leveraging on technological innovations.

    For the Reserve Bank of India (RBI), as we commemorate its 90th year, it has been an eventful journey since its establishment in 1935. In many significant ways, the Reserve Bank embodies the developmental aspirations of India. The landmarks of its journey are equally milestones in the progress of India. At the current juncture and looking ahead, developments around the world are impacting India on a continuous basis and challenging us as practitioners of central banking.

    Today’s conference gives us an opportunity to introspect on the journey of central banking so far and how we want to visualise and shape our role in the future. In my remarks today, I propose to briefly focus on three areas where central banking is likely to be redefined in the future: monetary policy; financial stability; and new technologies. In fact, these are among the themes of specific sessions in today’s conference. My observations would be mainly in the context of central banking across countries.

    Monetary Policy

    The three decades of restrained volatility of business cycles and the co-existence of price stability and uninterrupted growth that preceded the global financial crisis (GFC), perhaps lulled central banks into the belief that inflation expectations are enduringly anchored. The beast of inflation of the 1970s and early 1980s seemed completely behind our times. Conditioned by that experience, central banks shed their role of ‘lender of the last resort’ and became lender of the first resort to defend their financial systems when they responded to the GFC. They continued from their GFC moment and once again rushed to the frontline as warriors of the first resort to protect and preserve lives and livelihood when the COVID-19 pandemic hit the world. They took interest rates to all-time lows, undertook unconventional policy measures to reach out to interest rates across the spectrum, including at the longer end, and gave assurances about low for longer interest rates. This was an uncharacteristic departure from the monetary mysticism that had prevailed up to the 1990s. Clearly, central banking has evolved in line with the developments of the 21st century.

    While the pandemic time measures provided the much needed support to the economies, in the aftermath of the pandemic the limits and downsides of easy monetary policy in protecting economic activity in a crisis period became evident. Today, rightly or wrongly, the central banks are accused of distributional consequences of their actions. The negative equity that weighs in the balance sheets of certain central banks is seen as compromising their independence in the conduct of monetary policy. The story in India was, however, different as most of our liquidity measures were calibrated and carried end dates at the time of their announcement itself.

    Another challenge staring at central banks today emanates from soaring public debt caused, in a considerable measure, by the pandemic-related fiscal stimuli and the subsequent efforts for fiscal consolidation not gaining adequate traction. Such a situation is becoming a binding constraint on monetary policy in several countries. Global public debt has surged post the pandemic to 93.2 per cent of GDP in 2023 and is likely to increase to 100 per cent of GDP by 20291. In major economies, debt-GDP ratios are on an upward trajectory, raising concerns about their sustainability and their negative spillovers for the broader global economy. In several other countries, central banks are willy-nilly expected to facilitate financing of such huge public debts. In fact, the debt overhang is simmering underneath the radar of central banks, threatening to un-anchor inflation expectations and undermine macroeconomic stability.

    For emerging market economy (EME) central banks, the international dimensions of monetary policy continues to be a testing challenge. For them, the trilemma is real. Today the global economy is more financially integrated than ever before. Monetary policy actions in systemic economies produce large fluctuations in capital flows and exchange rates, which can then feed into domestic liquidity, inflation and eventually affect the real economy. While monetary policies in the systemic economies are determined by their domestic inflation-growth considerations, they have large spillovers to the emerging and developing economies and even to other advanced economies. These spillovers can be expected to accentuate as capital flows dwarf trade flows. Quite naturally, emerging economies are having to strengthen their policy frameworks and buffers to manage this external flux and mitigate its adverse consequences.

    Financial Stability

    Financial stability is the essential reason why central banks exist. Price stability as a central bank objective is of more recent vintage. There is a growing opinion today that ‘low for long’ policies practiced during the GFC and again during the pandemic, apart from providing support to the real economy, also produced exuberant financial asset prices that have come back to haunt central banks in their role as guardians of financial stability. Amidst ultra-low interest rates and super abundant liquidity, leveraging and risk-taking were celebrated as if there is no tomorrow. Consequently, when central banks were confronted with inflation surges in 2022 in the shadow of the war in Ukraine, they reacted with one of the most aggressive and synchronised tightening of monetary policies in history. This resulted in risks to financial stability, especially when these risks morphed into banking crises in certain countries in March 2023 and sell-offs in financial markets in August and September 2024. These developments have once again brought to fore the role of central banks in securing and preserving financial stability. Specifically, how should they account for financial stability considerations in their pursuit of price stability?

    Let me now address some of the emerging risks to financial stability. First, the divergence in global monetary policies – monetary easing in some economies, tightening in a few, and pause in several other economies – can be expected to lead to volatility in capital flows and exchange rates, which may disrupt financial stability. We saw a glimpse of this with the sharp appreciation of the Japanese Yen in early August which led to disruptive reversals in the Yen carry trade and rattled financial markets across the globe.

    Second, private credit markets have expanded rapidly with limited regulation. They pose significant risks to financial stability, particularly since they have not been stress-tested in a downturn.

    Third, higher interest rates, aimed at curtailing inflationary pressures, have led to increase in debt servicing costs, financial market volatility, and risks to asset quality. Stretched asset valuations in some jurisdictions could trigger contagion across financial markets, creating further instability. The correction in commercial real estate (CRE) prices in some jurisdictions can put small and medium-sized banks under stress, given their large exposures to this sector. The interconnectedness between CRE, non-bank financial institutions (NBFIs), and the broader banking system amplifies these risks.

    New Technologies

    In recent years, the technology-driven digitalisation wave in the payments sphere has been revolutionary. While most of the innovations have been at the national level focusing on retail payments, the market for cross-border payments has also expanded substantially. The significant volume of cross-border worker remittances, the growing size of gross flows of capital, and the increasing importance of cross-border e-commerce have acted as catalysts to this growth.23 Remittances are the starting point for many emerging and developing economies, including India, to explore cross-border peer-to-peer (P2P) payments. We believe there is immense scope to significantly reduce the cost and time for such remittances.

    India is one of the few large economies with a 24×7 real time gross settlement (RTGS) system. The feasibility of expanding RTGS to settle transactions in major trade currencies such as USD, EUR and GBP can be explored through bilateral or multilateral arrangements. India and a few other economies have already commenced efforts to expand linkage of cross-border fast payment systems both in the bilateral and multilateral modes.4

    India has developed a world-class digital public infrastructure (DPI), which has facilitated the development of high-quality digital financial products with enormous potential for cross-border payments. India is now home to the world’s third most vibrant startup ecosystem, with over 140,000 recognised startups, more than a hundred unicorns, and over US$150 billion in funding raised. India’s experience in DPI can be leveraged by other countries to improve and usher in a global digital revolution.

    Central bank digital currencies (CBDCs) is another area which has the potential to facilitate efficient cross-border payments. India is one of the few countries that have launched both wholesale and retail CBDCs. Programmability, interoperability with the UPI retail fast payment system and development of offline solutions for remote areas and underserved segments of the population, are some of the value added services which we are now experimenting as part of our CBDC pilot.

    Going forward, harmonisation of standards and interoperability would be important for CBDCs for cross-border payments and to overcome the serious financial stability concerns associated with cryptocurrencies. A key challenge could be the fact that countries may prefer to design their own systems as per their domestic considerations. I feel we can overcome this challenge by developing a plug-and-play system that allows replicability of India’s experience while also maintaining the sovereignty of respective countries.

    It is well recognised that growing digitalisation of financial services has enhanced the efficiency of the financial sector across the globe. At the same time, it has brought in several challenges which central banks have to deal with. For instance, in the modern world with deep social media presence and vast access to online banking with money transfer happening in seconds, rumours and misinformation can spread very quickly and can cause liquidity stress. Banks have to remain alert in the social media space and also strengthen their liquidity buffers.

    Latest technological advancements such as artificial intelligence (AI) and machine learning (ML) have opened new avenues of business and profit expansion for financial institutions. At the same time, these technologies also pose financial stability risks. The heavy reliance on AI can lead to concentration risks, especially when a small number of tech providers dominate the market. This could amplify systemic risks, as failures or disruptions in these systems may cascade across the entire financial sector. Moreover, the growing use of AI introduces new vulnerabilities, such as increased susceptibility to cyberattacks and data breaches. Additionally, AI’s opacity makes it difficult to audit or interpret the algorithms which drive decisions. This could potentially lead to unpredictable consequences in the markets. Banks and other financial institutions must put in place adequate risk mitigation measures against all these risks. In the ultimate analysis, banks have to ride on the advantages of AI and Bigtech and not allow the latter to ride on them.

    Conclusion

    Despite the difficult trials and trade-offs, central banking in the current decade is a success story. In the realm of monetary policy, central banks have been successful in bringing inflation closer to targets. Major financial collapses or recessions, seen during earlier episodes of crisis, have been averted. Central banks are now at the forefront of technological innovations and are driving them through sandboxes, innovation hubs and hackathons.

    As we navigate the high intensity tail events and black swans of the current decade, the lessons imbibed can well form the basis of our deliberations today to chart out a course for the future. Central banks must remain vigilant, adaptable, continuously assess risks and build resilience. They should remain prepared to navigate complex challenges, support sustainable growth, maintain price stability and promote sound and vibrant financial systems.

    Thank you.


    MIL OSI Economics

  • MIL-OSI Economics: Eddie Yue: China and the changing global trade landscape – challenges and opportunities

    Source: Bank for International Settlements

    Professor Wei [Shang-Jin, N.T. Wang Professor of Chinese Business and Economy, Columbia University], Distinguished guests, Ladies and Gentlemen, Good Morning!  

    It is my pleasure to welcome you all to the 14th Annual International Conference on the Chinese Economy, organised by the Hong Kong Institute for Monetary and Financial Research. The theme of this year’s conference is “China and the Changing Global Trade Landscape: Challenges and Opportunities”.  This is a timely and important topic – not just for China, but also with far-reaching and enduring implications for the global economy.     

    There is ample evidence that globalisation has brought enormous benefits to the world, through increasing cross-border flow of trade, investments, technology, ideas, and people. For emerging market economies, integration into the global supply chain has been a crucial contributor to their economic development.  As global income rose in tandem with global trade from the 1980s onwards, billions of people have been lifted out of poverty. 

    Since the 2008 global financial crisis, however, the golden era of globalisation has given way to a gradual slowdown in global trade in goods. There is a combination of factors.  First, it reflects doubts or even scepticism about the distributional effects of globalisation.  Secondly, rising geopolitical considerations in recent years have led to a re-imposition of various trade and investment restrictions by some jurisdictions.  And thirdly, recent disruptions to supply chain, caused by the pandemic and regional military conflicts, have prompted discussions about ways to mitigate such risks.

    These developments have not yet translated into a wholesale reconfiguration of the global trade landscape. But it appears that the slow-down in global goods trade is likely to continue.  A recent joint study by the HKMA and the Bank for International Settlements (BIS) suggests that some supply chain realignment has already been taking place during the pandemic.  

    Any escalation of geo-economic fragmentation would almost certainly result in a costly transition, especially for Asia given the region’s relatively open economies. For those who believe in the value of free trade and globalization, the key question then is how best to collectively minimise the risks of full blown economic fragmentation, and what actions can be taken to sustain globalisation, even in the face of a changing global trade landscape?

    Since this is a conference about the Chinese economy, perhaps we can start with a quick examination of how China is adapting to the change and turning the challenge into opportunity. Despite the headwinds in the trade sector, China’s world export share has remained at around 15 per cent since 2018.  This reflects two important trends. 

    First, China has continued its economic diversification and regional collaboration through expanding its import and export network, particularly to broader emerging markets. It has also stepped up outward direct investments to establish stronger footholds in the global supply chain amidst friend-shoring or near-shoring.

    Second, China’s manufacturing industries have doubled down on their efforts to move up the value chain, from low-end, labour-intensive component manufacturing to higher-tech, full-spectrum product manufacturing, supported by China’s own domestic market and growing capability in more sophisticated technology goods.

    Indeed, this is a process that pre-dates the recent rise in global trade protectionism, if just for the classic reason of comparative advantage. What we have witnessed is that even as some production may have been diverted away from China, these have been largely concentrated in a few sectors – namely, textiles, electronics and autos – and in the assembly segment rather than upstream.  While Chinese exports might take up a smaller share of some markets as a result, it is exporting more intermediate goods and capturing a larger share of imports from other regional economies. 

    China’s search for new trade opportunities through diversification and supply chain upscaling has brought structural transformation to the Chinese economy and helped maintain China’s key position in global manufacturing. The process, together with other changes in the global supply chain, will bring fundamental changes to global trade and investment.  It would be premature to predict what the new order will be.  But one thing is for sure, those who embrace the change and rise to the challenge will benefit greatly, and it should not be a zero-sum game. 

    Now let me shift gear and touch on some emerging opportunities we are going to discuss at this conference. I will focus on two panel themes: digital trade transformation and innovative trade finance – two topics that are increasingly relevant as we transition towards a digitalised global economy.

    Digitalisation of trade offers a range of benefits. For firms, digital transformation of trade and supply chain processes can produce efficiencies in terms of time and labour saved. It also enhances the traceability and security of cross-border trade in goods and services, by enabling real-time visibility into all stages of the supply chain from production to delivery.

    For economies, digital trade transformation offers substantial productivity gains through, for example, rapid growth of e-commerce. It also offers better prospects of helping to distribute the gains generated from trade more widely and equitably among the various stakeholders. 

    Indeed, digitally delivered services already account for a little over half of total services trade1. They are increasingly facilitating trade flow across borders, in support of raising the market share of developing economies, which has increased from about 20 percent to 30 percent of global service trade between 2005 and 2023. 

    Meanwhile, digital technologies can be leveraged to enhance cross-border trade settlement and financing, where there is plenty of scope for coordinated solutions to existing pain points. For example, Project mBridge has been exploring the use of wholesale central bank digital currencies of Hong Kong and a number of other participating central banks as a way to speed up cross-border payments at reduced cost, faster settlement, and with better transparency. 

    Equally exciting is the use of innovative technologies in trade finance – from blockchain, AI to digital signatures – and greater cooperation around cross-border interoperability that will help close the widening global trade finance gap, estimated by the Asian Development Bank last year to have reached a record US$2.5 trillion.

    Another area of opportunity and cooperation is around green technologies. The consequences of climate change, in the form of higher frequency of extreme weather events, have only become more visible these last few years, and Asia is particularly exposed. 

    We need open and predictable trade to enable scale economies and direct low-carbon technologies and services to where they are most needed. In this respect, major regional trade networks can serve as key platforms that facilitate sustainable trade and investment, support climate-resilient economic developments, and enhance the ecosystem of green finance.

    Let me close by noting that the global trading system as we know has brought mutual benefits and shared prosperity to the world economy. Granted, there’s always scope to make the system work better and fairer.  Let’s focus not just on the challenges, but more on the solutions and the opportunities.  

    There are excellent research papers to be presented at the conference, covering many of the topics I outlined just now. So I wish you all a most engaging and productive conference. 

    Thank you.


    MIL OSI Economics

  • MIL-OSI: AGBA TAKES FINAL STEP TOWARD COMPLETION OF TRILLER MERGER

    Source: GlobeNewswire (MIL-OSI)

    The previously announced reverse stock split to comply with Nasdaq’s rules in connection with the merger will take effect on October 15, 2024.

    NEW YORK, NY / LOS ANGELES, CA , Oct. 14, 2024 (GLOBE NEWSWIRE) —  AGBA Group Holding Limited (Nasdaq: AGBA) (“AGBA” or the “Company”) and Triller Corp. (“Triller”) today announced that Nasdaq approval for their merger was received on October 11, 2024. The merger is now expected to be completed on October 15, 2024.

    This merger represents the next step in AGBA and Triller’s collective strategic visions in the digital economy. The combination of AGBA and Triller will accelerate innovation, clear a path towards rapid growth and expand the combined company’s market presence globally, creating unparalleled value for all stakeholders of the company.

    The 1-for-4 reverse stock split is implemented in order to remain in compliance with Nasdaq’s rules in connection with the merger with Triller Corp. (“Triller”). The combined company’s shares will commence trading on a split-adjusted basis on October 16, 2024.

    About AGBA   

    Established in 1993, AGBA Group Holding Limited (Nasdaq: “AGBA”) is a leading, multi-channel business platform that incorporates cutting edge machine-learning and offers a broad set of financial services and healthcare products to consumers through a tech-led ecosystem, enabling clients to unlock the choices that best suit their needs. Trusted by over 400,000 individual and corporate customers, the Group is organized into four market-leading businesses: Platform Business, Distribution Business, Healthcare Business, and Fintech Business.

    For more information, please visit http://www.agba.com.

    About Triller Corp.     
    Triller Corp. is a next generation, AI-powered, social media and live-streaming event platform for creators. Pairing music culture with sports, fashion, entertainment, and influencers through a 360-degree view of content and technology, Triller Corp. uses proprietary AI technology to push and track content virally to affiliated and non-affiliated sites and networks, enabling them to reach millions of additional users. Triller Corp. additionally owns Triller Sports, Bare-Knuckle Fighting Championship (BKFC); Amplify.ai, a leading machine-learning, AI platform; and TrillerTV, a premier global PPV, AVOD, and SVOD streaming service.

    For more information, visit http://www.triller.co.

    Investor Relations:     
    Bethany Lai
    ir@agba.com

    Safe Harbor Statement
    This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the closing of the merger; the expected date of the merger; the market effective date of the Company’s actions; the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the outcome of any legal proceedings that may be instituted against us following the consummation of the business combination; expectations regarding its strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and its ability to invest in growth initiatives and pursue acquisition opportunities; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Hong Kong and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC, the length and severity of the recent coronavirus outbreak, including its impacts across its business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at http://www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

    # # #

    The MIL Network

  • MIL-OSI: Customer experience still an untapped opportunity to drive sales growth for auto brands and mobility providers

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Florence Lièvre
    Tel.: +33 1 47 54 50 71
    Email: florence.lievre@capgemini.com

    Customer experience still an untapped opportunity to drive sales growth for auto brands and mobility providers

    • Three quarters (76%) of vehicle/mobility services customers expect the same hassle-free end-to-end experience offered by other industries
    • However, most organizations (73%) are over-indexing on the importance of reputation in customer experience instead of prioritizing digital experiences and post-purchase services
    • Nearly half of consumers (48%) are likely to shift to mobility subscription-based services over vehicle ownership given the flexibility these services offer

    Paris, October 14, 2024 – The Capgemini Research Institute’s latest report titled ‘Joining the race: Automotive’s drive to catch up with customer experience’, published today, reveals a significant gap between how automotive business leaders and consumers perceive the quality of their customer experience (CX). In today’s competitive landscape, customer expectations are shaped by exceptional service standards across various industries, yet the survey shows that automotive CX frequently falls below par, ranking 9thout of 13 major consumer-facing industries. In comparison, mobility-as-a-service is overall ranked higher by customers, but with a significant variation depending on the country.

    According to the report, the Net Promoter Score (NPS®)1 for vehicle brands shows a notable gap between customer and organizations’ perceptions of CX. Whilst executives surveyed estimate this score at 14, consumers score automotive brands an average NPS rating of 2, lower than any other consumer-facing industry.

    Perception gaps in brand reputation, ease of use and access, and emotional connection
    While 73% of vehicle brands or mobility providers consider brand reputation as the top factor in the buying decision, only 48% of consumers surveyed do. In addition, emotional connection with the brand is also considered as an important factor by consumers (41%) compared to only 24% of organizations surveyed.

    Ease of use and accessibility emerge as a top priority that influence the large majority (76%) of consumer decisions to opt for or stay with a vehicle brand or mobility service, whereas only 51% of organizations consider it as a priority: consumers surveyed expect seamless and hassle-free functionality across apps, dashboard screens, battery charging, and insurance claims (77%), best-in-class digital experience (59%), and eco-friendly options (51%).

    According to the report, only 29% of automotive brands and mobility services customers rate consistent experiences across channels as extremely good or good. The vast majority (90%) report dissatisfaction with the integrated services – pre-purchase to aftersales – provided to them, for instance, the availability of a single app for all vehicle or transport needs.

    Seven in ten organizations consider CX as a C-level priority, with opportunities to be seized in digital experiences and post-purchase services
    Fewer than one in five (17%) organizations surveyed involve IT or digital teams in CX initiatives while three-quarters of customers are feeling dissatisfied with digital experiences.

    In 41% of organizations surveyed, CX is limited to a few functional areas, such as sales, customer service and support. Only one-third (27%) involve marketing and communications, in contrast to research and development for nearly half of them (49%).

    Overall, the report highlights that CX initiatives are disproportionately focused on the pre-purchase and purchase phases in contrast with the post-purchase stages of the customer journey, like servicing and maintenance and end of life of vehicle, including reselling, renewing subscriptions, and refurbishing. 57% of consumers surveyed who are planning to switch brands within 6-18 months express dissatisfaction with their post-purchase service and maintenance experience.

    “Amid constant industry change, focusing on customer interactions is essential. But, when it comes to delivering a consistent customer experience ‘one size does not fit all’,” said Laurence Noël, Head of Global Automotive Industry at Capgemini. “Mobility consumers demand the same level of experience than the one offered by other sectors that is hassle-free, digitalized, and sustainable. A cultural shift is underway, notably among Gen Z, millennials, and Gen X consumers in Europe from vehicle ownership to on-demand access to transportation. Automotive organizations should seize the opportunity offered by CX-enhancing digital solutions to create true end-to-end customer journeys focusing the full lifecycle, beyond pre-sales/sales offerings, that include maintenance, software updates, and personalized services. In this fast-changing highly competitive market, a full-mobility experience across the customer journey until the end-life of the vehicle, can be seen as a top priority for brands to differentiate themselves.”

    Report Methodology
    The Capgemini Research Institute surveyed 600 senior executives from large automotive OEMs (including passenger cars, two- and three-wheelers, trucks, and buses), fleet service organizations, dealers, aftersales organizations, and Mobility-as-a-Service (MaaS) providers (e.g., car rental, taxi, and ridesharing providers). The surveyed automotive passenger-car OEMs and dealers each have an annual revenue exceeding $1 billion, while the OEMs producing two- and three-wheelers, trucks, and buses, as well as the fleet service and aftersales organizations, and MaaS providers each have annual revenue over $300 million. These executives are based in 10 countries across North America, Europe, and Asia-Pacific. The global survey took place in August 2024.
    The research also included a global survey of 10,000 consumers over the age of 18 across 11 countries. To complement the survey findings, the Institute also conducted in-depth discussions with 32 CX experts from automotive and MaaS organizations, as well as from other consumer-facing industries, such as hospitality and hotels, consumer products and retail, luxury goods and retail, consumer electronics, airlines and transport, and banking and insurance.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.
    Get The Future You Want | http://www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was recently ranked #1 in the world for the quality of its research by independent analysts.
    Visit us at https://www.capgemini.com/researchinstitute/


    1 Net Promoter Score (NPS®) is a metric used to measure customer loyalty and satisfaction with a company’s products or services.

    Attachments

    The MIL Network

  • MIL-OSI United Kingdom: Record-breaking International Investment Summit secures £63 billion and nearly 38,000 jobs for the UK

    Source: United Kingdom – Executive Government & Departments

    Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit.

    • Total of £63 billion of private investment committed around International Investment Summit, more than doubling amount secured at 2023 Global Investment Summit
    • New investments today include £6.3 billion in UK data centres as well as world class UK university Imperial College London
    • Innovative investment projects announced over the last month across infrastructure, renewables and life sciences will create close to 38,000 new jobs across the UK

    Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit, turbocharging growth and innovation across the country. 

    The record-breaking total figure more than doubles the £29.5 billion committed at last year’s Global Investment Summit and spans partnerships across the infrastructure and tech sectors, including over a billion pounds in new investments announced today by DP World, Associated British Ports (ABP) and Imperial College London. 

    Through serious, stable governance, the UK is attracting tens of billions of pounds of new investment which is crucial to the government’s driving mission of delivering economic growth. Today’s historic figure demonstrates that businesses have confidence in Britain as a place to invest. 

    The investments follow immediate action taken by the new government to reform planning, focus on AI and data centre expansion, and set a clear commitment to net zero by almost doubling the funding for renewable energy projects. 

    Four major tech firms based in the US have today announced £6.3 billion in UK data centres which is critical to enhancing the UK’s AI capacity – in turn fuelling Britain’s economic growth and spurring on AI development. Data centres store the vast amount of information and data needed to power AI, and store the information generated by AI to keep the systems running. 

    ABP, the UK’s largest port operator, has committed over £200 million to a joint investment with ferry company Stena Line in a new freight ferry terminal at the Port of Immingham, significantly boosting the capacity and resilience of UK trade with Europe. It is expected to create around 700 jobs during construction and around 200 permanent jobs once operational. 

    Leading UK university Imperial College London is also today announcing a £150 million investment to secure a new R&D campus to add to its rapidly expanding deep tech ecosystem in West London. The new campus will expand scale-up capacity in the WestTech Corridor, supporting the UK’s innovation sector and driving investment, economic growth and job creation. 

    Business and Trade Secretary Jonathan Reynolds said:

    Global investors should be in no doubt that under this new government Britain is truly the best place to do business. The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.

    We’re determined to deliver economic growth in every part of the UK and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future.

    Chancellor of the Exchequer Rachel Reeves said:

    After the investments secured as part of this summit, my optimism for Britain burns brighter than ever. It’s a sign of the confidence in the British economy. And it matters because it will support the growth of businesses big and small across the U.K. Helping them create new jobs and making people better off.

    CEO of ABP Henrik L. Pedersen said:

    We are delighted that the Development Consent Order (DCO) for the Immingham Eastern Ro-Ro Terminal (IERRT) has been granted in a timely way by the Secretary of State to allow us to move forward with investment. The IERRT project is a key component of our strategy to strengthen the UK’s supply chains and improve trade connectivity, whilst also bringing substantial economic benefits including the creation of hundreds of jobs during construction and ongoing operations. IERRT forms part of the intended £5.5bn pipeline of UK investment we have in front of us over the next 10 years and we look forward to working closely with the Government to deliver the right conditions to realise this investment.

    President of Imperial College London Hugh Brady said:

    Imperial College London is investing in its ambitious vision for a new globally competitive deep tech innovation ecosystem in West London. The Imperial WestTech Corridor will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level supported by the Government’s emerging Industrial Strategy.

    Please see below for a list of all the investments announced in the run-up to and during today’s International Investment Summit:

    • Iberdrola doubling their investment in the UK, through Scottish Power, from £12 billion to £24 billion over the next 4 years. This includes £4 billion for the East Anglia 2 wind farm off the Suffolk coast which was unlocked by this Government’s expanded allocation at the most recent wind auction round. Iberdrola Executive Chairman Ignacio Galan CBE confirmed on Friday that the UK has become their largest Investment destination. 

    • Blackstone confirmed a £10 billion investment in Blyth, Northumberland to create one of the largest artificial data centres in Europe, creating 4,000 jobs, including 1,200 roles dedicated to the construction of the site. 

    • Amazon Web Services announced an £8 billion investment last month which is estimated to support around 14,000 jobs per year at local businesses, including those across the company’s data centre supply chain such as construction, facility, maintenance, engineering and telecommunications. 

    • CCUS investors (including Eni, BP and Equinor) reached a commercial agreement with the government that will unlock £8 billion of private investment to launch carbon capture clusters in the heartlands of the North West and North East of England, directly creating 4,000 jobs and supporting 50,000 jobs in the long-term. 

    • Orsted and Greenvolt confirming that the Government’s recent expanded offshore wind auction means their projects will unlock £8 billion (Orsted) and £2.5 billion (Greenvolt) of investment respectively in their planned offshore wind farms. Orsted says its commitment will see thousands of jobs for local people, while Greenvolt says it will create up to 2800 construction jobs.  

    • CyrusOne, a leading global data centre developer headquartered in the United States, announced plans to expand their investment into the UK to £2.5 billion over the coming years. Subject to planning permission, the two data centres should be operational by Q4 2028, projected to create over 1,000 jobs both directly and within its immediate design and construction value chain.   

    • Octopus Energy have committed to a £2 billion investment in renewable energy generation, including four new solar farms in Bristol, Essex, East Riding of Yorkshire and Wiltshire that will power up to 80,000 homes as well as breaking ground on a new 12 MW battery in Cheshire which Octopus say will store enough power for nearly 10,000 homes every day. 

    • SeAH Wind has made an additional £225 million investment into wind technology manufacturing in Teesside, thanks to new backing from UK Export Finance, and expects to create 750 direct jobs by 2027. This brings their total investment into the site at Teesworks up to £900 million and will help them make their ongoing factory build – one of the biggest facilities of its kind worldwide – even bigger. 

    • CloudHQ is developing its new state-of-the-art £1.9 billion data centre campus in Didcot. The hyper-scale data centre is currently in development and will help meet the UK’s growing demand for AI and machine learning. It will create 1,500 jobs during construction, and 100 permanent jobs once fully operational.  

    • Macquarie supporting investment of £1.3 billion into new green infrastructure including its Island Green Power solar farm in Stow, as a result of planning consents having been granted by the Government, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network. 

    • ServiceNow also confirmed its commitment to the UK market, with plans to invest £1.15 billion into its UK business over the next five years. The investment will not only support the future development of AI in the UK, expanding its data centres with Nvidia GPUs for local processing data, but also support new office space as the company significantly grows into employee base beyond its current headcount of 1,000 employees.  

    • Manchester Airports Group is investing more than £1.1 billion in London Stansted Airport to expand its existing terminal by around a third, help secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs. This includes around £600 million to extend the terminal and £500 million to deliver a suite of improvements to the existing terminal building and wider airport estate. 

    • Eren Holdings confirmed a £1 billion investment in the redevelopment of Shotton Mill in Deeside, North Wales which is set to become the UK’s largest recycled paper manufacturing campus. This is expected to safeguard 147 jobs and create a further 220 when the site is fully commissioned. 

    • Network Rail and London & Continental Railways are creating a new property company which will attract additional private and public sector investment with the potential to deliver brownfield regeneration schemes across the rail estate with a value exceeding £1 billion. 

    • CoreWeave is building on its £1 billion investment announced in May and the opening of its European headquarters in London by investing a further £750 million-plus in the UK to support the demand for critical AI infrastructure. The investment in the UK is CoreWeave’s second largest investment in a country following the USA.  

    • DP World are investing up to £1 billion in their London Gateway container port operation. This new investment will fund two additional berths and a second rail terminal. Once built, the berths will add vital transport capacity and increase the resilience of UK supply chains, enabling businesses to access domestic and international markets and supporting the Government’s growth and decarbonisation missions. 

    • Holtec, a major US advanced nuclear engineering company, has confirmed a significant investment of £325 million in a new factory in South Yorkshire which will supply materials for civil and defence nuclear industries. They say this will create up to 490 direct and 280 indirect jobs annually during the construction phase and 1,200 direct engineering jobs created over 20 years. 

    • BW Group proceeding with a £500 million investment, which includes new battery energy storage projects in Hampshire and Birmingham. 

    • Eli Lilly and Company is collaborating with government through a memorandum of understanding which will see the pharmaceutical giant intending to commit £279 million to tackle significant health challenges – including obesity. Lilly also plans to launch the first ‘Lilly Gateway Labs’ innovation accelerator in Europe to support early-stage life sciences businesses to develop transformative medicines and technologies. 

    • Associated British Ports (ABP), the UK’s largest port operator, has announced a £200+ million investment in a new freight ferry terminal at the Port of Immingham, boosting the capacity and resilience of UK trade with Europe. This is expected to create around 700 jobs during construction and 200 permanent jobs once operational. 

    • Imperial College London investing £150 million to build The WestTech Corridor – a new innovation ecosystem in West London which will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level. 

    • Haleon has received planning permission to develop a new £130 million Global Oral Health Innovation Centre in Weybridge, Surrey. This state-of-the-art facility will primarily support Haleon’s global oral health business by developing new products that advance consumers’ better everyday health. 

    Background 

    • The International Investment Summit is being sponsored by Barclays, HSBC, Lloyds, M&G plc, Octopus Energy, and TSL.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Economics: Samsung Ushers in a New Era by Expanding Galaxy Ecosystem, Begins Pre-reserve for Galaxy Ring in India

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the commencement of pre-reserve for its highly anticipated Galaxy Ring in India. The Galaxy Ring, which fits comfortably on users’ fingers like a traditional ring, is equipped with cutting-edge Galaxy AI features and sensors to deliver a differentiated experience.
     
    The Galaxy Ring adorns a titanium finish for enhanced durability and comes with an IP68 rating for water and dust resistance. The Galaxy Ring is rated 10ATM as it is built to withstand water depths of up to 100 meters, performing seamlessly in all conditions.
     
    Customers can pre-reserve their Galaxy Ring by paying a token amount of INR 1999 on Samsung.com, select retail stores, Amazon.in and Flipkart.com.
     
    Customers who pre-reserve the Galaxy Ring during this period will receive a complimentary Wireless Charger Duo worth INR 4999 upon purchase.
     
    Ushering a new era in the wearable device portfolio, Galaxy Ring features technology that helps users understand their health and body mannerisms easily. Blending a sleek, timeless design with cutting-edge health tracking features, Galaxy Ring will be available in 9 different sizes, ranging from size 5 to size 13.
     
    Offering a compact, sophisticated solution for users seeking seamless connectivity and wellness monitoring, Samsung India will provide its customers the option to get a sizing kit to ensure best fit before purchasing Galaxy Ring.
     
    Weighing just 2.3 grams (for size 5) with a narrow 7.0 mm width, Galaxy Ring is ultra-lightweight and compact, designed for providing comfort, during both day and night wear. It offers up to 7 days of battery life, providing users with a long-lasting endurance best suited for busy lifestyles.
     
    Powered by Samsung’s innovative “Health AI,” Galaxy Ring will deliver personalized health experiences that track users’ energy levels, sleep stages, activity, heart rate, and stress levels. It allows users to set and forget, simplifying health tracking while providing personalized coaching and insights.
     
    Galaxy Ring also integrates effortlessly with other devices in the Galaxy ecosystem, enhancing the connected experience for users. Galaxy Ring further offers features like 24/7 health tracking in synergy with Galaxy smartwatches, gesture controls, and Smart Find for added convenience.

    MIL OSI Economics

  • MIL-OSI Global: Frieze 2024: it’s an industry art fair you’re not supposed to like – but here’s why you might

    Source: The Conversation – UK – By Martin Lang, Senior Lecturer and Programme Leader in Fine Art , University of Lincoln

    The average art lover isn’t supposed to like art fairs because they’re so corporate. When you pay £9 for a sandwich and your wifi is sponsored by a big bank, you can understand the reservations. They’re also too big and crowded. Even the VIPs are left queuing to get in.

    But the fair provides opportunities to see work from galleries from all over the world in London and there is plenty of good art on display. As Frieze describes itself “[it] is one of the world’s most influential contemporary art fairs, focusing only on contemporary art and living artists”. It is primarily for those in the art world, those who create, critique and those who collect, and a lot of money changes hands as the world’s galleries show the best they have. But it has also become a cultural day out.

    Apart from loads of great painting and the occasional noncommercial showpiece, Frieze goes out of its way to balance the corporate with more thoughtful displays. There’s a chance to see big-name artists, international galleries and work by new artists. The “Artist-to-Artist” section returned this year, containing work by emerging talents (selected by established artists). With so much on show, Frieze can be daunting. You can easily spend a whole day at the fair, but with so much on display there is truly something for everybody.

    At this year’s Frieze, international highlights included Proyectos Ultravioleta from Guatemala city, who showed miniature paintings by Rosa Elena Curruchich hung alongside larger works emblazoned with the text “me venden” (they’re selling me) by Edgar Calels. Calels also brought the smell of a forest into the booth by covering the floor with pine needles.

    Jhaveri Contemporary (Mumbai, India) presented work by the Bangladeshi duo Kamruzzaman Shadhin and Gidree Bawlee. The piece Kaal (Pala) consists of seven delightful jute figures – among the most enchanting figurative sculptures I have seen recently. Joydeb Roaja’s pen drawings of people, tanks, and people with tanks on their heads are as enigmatic and disturbing as they are engaging.

    Non-commercial art appeared in Jenkins Van Zyl’s Sweat Exchange at Edel Assanti (London). This video installation housed in what Van Zyl has called a sauna-cum-“sweat extraction brewery”, which features two doppelgangers, who alternate between self-care and abuse. Imagine the Pink Panther crossed with Jar Jar Binks as a drag queen and you’re nearly there.

    Then there was Patrick Goddard’s silver cast bees on the floor of Seventeen Gallery, and Lawrence Lek (winner of the Frieze artist award) who has produced Guanyin: Confessions of a Former Carebot – an interactive videogame installation about an AI created to service self-driving cars.

    Most of the works were are those hung on walls. Gallery booths have a small storage area in which they are able to keep paintings and prints, (but less able to store sculptural works). Collectors also favour paintings, prints and photographs to adorn their walls (or similarly put into storage) over artists’ films or video installations.

    What’s to complain about though when there is so much good painting on display?

    Highlights included Tom Anholt and Ryan Mosley at Josh Lilley Gallery (London); Carl Freedman Gallery (Margate), which showed great paintings by Ben Senior, Laura Footes and Vanessa Raw (as well as Lindsey Mendick’s ceramic sculptures) and Tanya Leighton Gallery (Berlin and LA), which had plenty of good painting on show, including works by Matthew Krishanu. Ingleby (Edinburgh) showed Andrew Cranston and Hayley Barker and Arcadia Missa (London) showed Lewis Hammond’s Schmetterling, an eerie blue interior with an unsettling blue-eyed figure, and Jesse Darling, whose Come on England (up the) takes a novel approach to wall-based work by leaning crowd-control barriers in the corner of the gallery booth.

    Counter Editions (Margate) presented a Tracey Emin solo show. You’re not supposed to like Emin, since she outed herself as a Tory sympathiser. Opposite is a Billy Childish solo show at Lehmann Maupin (London, Seoul, New York), where the artist paints live while wearing a beret next to a dirty stepladder for reaching the tops of the large canvases. You’re not supposed to like Billy Childish either because he is a Stuckist (stuck in the age of Van Gogh and Edvard Munch – his only two art heroes). Funnily enough, Charles Thomson, co-founder of Stuckism, derived the name from an insult by Emin, who told Childish, her ex-lover, that his art was “stuck, stuck, stuck”. Don’t tell anybody, but the Emin and Childish works were quite good.

    With an annual curated section, more solo shows and over 270 Galleries from more than 40 countries, if you love art in all its forms (and can afford it) you should experience Frieze London at least once. If you didn’t go this year, you really should spend a day there next. Despite what people say… you’re bound to find something you like.



    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.


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

    ref. Frieze 2024: it’s an industry art fair you’re not supposed to like – but here’s why you might – https://theconversation.com/frieze-2024-its-an-industry-art-fair-youre-not-supposed-to-like-but-heres-why-you-might-241293

    MIL OSI – Global Reports

  • MIL-OSI Submissions: Universities – Seeking new green energy solutions from the sea – in wave power, biofuel and beyond

    Source: Flinders University

     

    Green fields are opening around the world as researchers make inroads into improving efficiencies in more sustainable vehicles via a novel biofuel and power generation from the sea.

     

    For example, Flinders University scientists have recently published results from three different studies – targeting potential methods and future technologies to capture ocean wave power efficiently, produce marine microalgae biofuel, as well as to improve catalytic conversion in engines.

     

    Nanotechnology experts at Flinders University, including Professor Youhong Tang and PhD Steven Wang, with Chinese colleagues have developed a novel wave sensing device which is self-powered by harvesting energy from ocean waves.

     

    The latest results, published in Device (Tuesday 15 October), prototypes a hybrid self-powered wave sensor (HSP-WS), consisting of an electromagnetic generator and a triboelectric nanogenerator.

     

    “The test results show that HSP-WS has the sufficient sensitivity to detect even 0.5 cm amplitude changing of ocean wave,” says PhD candidate Yunzhong (Steven) Wang, from Professor Tang’ research group, who is based at Flinders University’s Tonsley future energy hub.

     

    Professor Tang says that “The data obtained from HSP-WS can be used to fill up the current gap in the wave spectrum which can improve ocean wave energy harvesting efficiency.”

    Ocean wave amplitude is a key parameter in the wave spectrum. The current wave spectrum does not support detailed wave data for wave amplitudes below 0.5 m. Common radar-based ocean data sensors struggle to monitor low-amplitude waves because the measured wave amplitude is often concealed by environmental noise. 

     

    The researchers add that low-amplitude-wave energy harvesters lack proper guidance for optimal placement, which significantly affects their energy-harvesting efficiency.

     

    Meanwhile, nanoscale material scientist, Matthew Flinders Professor Tang, has joined forces with aquaculture expert Professor Jianguang (Jian) Qin and other Flinders University researchers to experiment with a new method to boost production of fast-growing, sustainable microalgae for biofuel or other feedstock.

     

    “Mass production of microalgae is a research focus owing to their promising aspects for sustainable food, biofunctional compounds, nutraceuticals, and biofuel feedstock,” says Professor Tang. 

     

    “For the first time, this study was able to enhance algal growth and lipid accumulation simultaneously, producing essential biomolecules for the third and fourth-generation feedstock for biofuel.”

     

    The novel approach creates an effective light spectral shift for photosynthetic augmentation in a green microalga, Chlamydomonas reinhardtii, by using an aggregation-induced emission (AIE) photosensitiser.

     

    Professor of Aquaculture Jian Qin says industry-scale microalgae culture for lipid and biomass production is still a challenge.

     

    “However, microalgae-derived polyunsaturated fatty acids (PUFA) remain a promising alternative to stock-limited fossil fuels for the recent price hike and future demand and for minimising carbon emissions with 10 to 50 times higher efficiency than terrestrial plants. PUFA also have health-promoting functions for biomedical and pharmaceutical applications,” he says.

     

    Another research group at Flinders University’s College of Science and Engineering has published a paper about a promising new nanotechnology technique for more efficient use of fuels.

     

    “The need for sustainable energy solutions is steering research towards green fuels,” says Associate Professor in Chemistry Melanie MacGregor, from Flinders University. “One promising approach involves electrocatalytic gas conversion, which requires efficient catalyst surfaces.”

     

    “In this study, we developed and tested a plasma-deposited hydrophobic octadiene (OD) coating for potential to increase the yield of electrocatalytic reactions,” she says.

     

    “Our findings indicate that these nano-films, combined with micro-texturing, could improve the availability of reactant gases at the catalyst surface while limiting water access.

     

    “This approach holds promise to inform future development of catalyst materials for the electrocatalytic conversion of nitrogen and carbon dioxide into green fuels.”

     

    References: 

     

    The article ‘Plasma Coating for Hydrophobisation of Micro- and Nanotextured Electrocatalyst Materials’ (2024) by Georgia Esselbach, Ka Wai Hui (UniSA), Iliana Delcheva, Zhongfan Jia and Melanie MacGregor has been published in the online journal Plasma. DOI: 10.3390/plasma7030039 9.

     

    This research received funding from the Australian Research Council (FT200100301), Universities and State Government with support from Microscopy Australia at the Future Industries Institute, University of South Australia, and the SA node of the Australian National Fabrication Facility under the National Collaborative Research Infrastructure Strategy.

     

    Also see ‘Aggregation-induced emission photosensitiser boosting algal growth and lipid accumulation’ (2024) by Sharmin Rakhi, AHM Mohsinul Reza, Brynley Davies, Jianzhong Wang (Jilin Agricultural University), Youhong Tang and Jianguang Qin has been published in Nano-Micro Small journal (Wiley). The authors acknowledge support from colleagues at the South China University of Technology and La Trobe University. This research did not receive any external funding.

     

    The first article, ‘A hybrid self-powered wave sensing device enables low-amplitude wave sensing’ (2024) by Yunzhong Wang, Huixin Zhu (Tongji University), Wenjin Xing, Damian Tohl and Youhong Tang has been published in Device (Cell) DOI: 10.1016/j.device.2024.100575 This research did not receive any external funding.

    MIL OSI – Submitted News

  • MIL-OSI USA: Getting Pumpkin Spicy at the Aquarium!

    Source: US State of North Carolina

    Headline: Getting Pumpkin Spicy at the Aquarium!

    Getting Pumpkin Spicy at the Aquarium!
    jejohnson6

    FORT FISHER

    Underwater shenanigans with pumpkins, eerie frozen treats and sunken secrets await at Spooky Seas Saturday, Oct. 19 – Friday, Nov. 1 at the North Carolina Aquarium at Fort Fisher. The ghoulish fun is included with an Aquarium admission during regular hours 9 a.m. to 5 p.m. Online tickets are required to visit the Aquarium. 

    Halloween-inspired enrichment for the animals from the otters to the alligators to Maverick, the bald eagle, will be a real treat for visitors. By engaging the community in a spirited way, the Aquarium team fulfills its mission to inspire appreciation and conservation of our aquatic environments. Visitors will see the passion that the animal care team has for conservation of the many species at the Aquarium, with all staff and volunteers sharing their story. 

    SCARY SPECIES STATISTICS

    Here are some scary statistics that keep the Aquarium team focused on saving species:

    • Asian small-clawed otters are a vulnerable species in their native habitat of southeast Asia.  
    • Green sea turtles, like Shelldon, are endangered or threatened in all or a large portion of their range.
    • The eastern box turtle is a vulnerable species.
    • The corn snake is a species of special concern.
    • The sand tiger shark is critically endangered in some areas and vulnerable globally.

    GHOULS & GOBLINS SHOULD KEEP IT GREEN

    Here are ways to avoid spooking the Aquarium team:

    • Do not bring any single-use plastic cups, bottles, bags and straws.
    • Bring a reusable water bottle and take advantage of our convenient refill stations in the Aquarium.
    • Carpool to the Aquarium when you have a group visiting together, if possible.
    • Reserve your ticket in advance and use your cell phone to show us your reservation confirmation. No need to print anything!
    • Don’t smoke, use tobacco or use an E-cigarette in the Aquarium or outdoor gardens. NCAFF is a smoke-free, tobacco-free environment. E-cigarettes are also not permitted.
    • Use the smoking receptacles in the designated smoking areas outside of the garden exit gate.
    • Pat yourself on the back for being a green goblin!

    SUSTAINABILITY SUPERHEROES EVERYDAY

    The Aquarium is committed to sustainability:

    • The North Carolina Aquarium leads by example offering water refill stations, compostable cups, plates and utensils at the food deck and only aluminum bottles in our vending machines. We also only percolate and pour Bird Friendly® coffee at the Aquarium for staff and events.  
    • Take a look at the sustainability achievements and projects at the Aquarium at Green & Getting Greener.
    • Find out more about Bird Friendly® coffee at Raise a Cup for Otters.

    About the North Carolina Aquarium at Fort Fisher  

    The North Carolina Aquarium at Fort Fisher is just south of Kure Beach, a short drive from Wilmington, on U.S. 421. The site is less than a mile from the Fort Fisher ferry terminal. Hours: 9 a.m. to 5 p.m. daily. Admission: $12.95 ages 13-61; $10.95 children ages 3-12; $11.95 seniors (62 and older) and military with valid identification; EBT card holders: $3. Free admission for children 2 and younger and N.C. Aquarium Society members and N.C. Zoo members.

    Oct 11, 2024

    MIL OSI USA News

  • MIL-OSI Russia: Dmitry Chernyshenko discussed the development of the state program “Development of Physical Culture and Sports” with the sports community and business

    MILES AXLE Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Previous news Next news

    Dmitry Chernyshenko held a meeting dedicated to the development of a comprehensive state program “Development of physical culture and sports”

    Deputy Prime Minister Dmitry Chernyshenko held a meeting dedicated to the development of a comprehensive state program “Development of physical culture and sports.”

    It was attended by the Minister of Sports Mikhail Degtyarev, the Governor of the Tula Region, Chairman of the State Council Commission on Physical Culture and Sports Dmitry Milyaev, the Minister of Physical Culture and Sports of the Moscow Region Dmitry Abarenov, the General Director and Chairman of the Board of JSC Russian Railways Oleg Belozerov, the President of the All-Russian Federation of Dance Sport, Breaking and Acrobatic Rock ‘n’ Roll Nadezhda Erastova, as well as other representatives of federal and regional executive authorities, sports federations and the business community.

    The participants discussed the formation of the program and its management system. During the meeting, Dmitry Chernyshenko emphasized the need for a comprehensive approach to the development of the sports industry.

    “On the instructions of President Vladimir Putin, the Government, together with the State Council commissions, is developing a comprehensive state program, “Development of Physical Culture and Sports,” taking into account federal, national and other state programs. In the changed conditions, Russian sports have become an area that requires the integration of a huge number of infrastructure development activities in the field of high-performance sports, mass and youth sports. When forming a state program, a comprehensive approach to the development of the sports industry is needed, taking into account the interests of all interested parties: government bodies, the sports community, and business,” the Deputy Prime Minister noted.

    He thanked the Ministry of Sports for its prompt work in preparing the necessary documents, as well as for fulfilling the instructions of President Vladimir Putin.

    Mikhail Degtyarev noted that the comprehensive state program will include measures aimed at developing physical culture and sports, implemented, among other things, through extra-budgetary sources.

    “Seven state corporations and large companies with state participation have already agreed to provide such information – these are Rostec, VTB, Otkritie Bank, Russian Post, Rosatom, Rostelecom, Magnitogorsk Iron and Steel Works. 32 sports federations are ready to provide such information; in the future, their concealment of attracted extra-budgetary funds may become grounds for revoking accreditation. We have included this norm in Government Resolution No. 1661 on the approval of the state program. In order to promptly resolve issues at the interdepartmental level and improve coordination, we propose creating a Government Commission for the Development of Physical Culture and Sports. Its composition will be approved by a resolution of the Government of Russia, and the presidium may subsequently be transferred the functions of the governing council of the state program,” the minister said.

    During the meeting, proposals from state commissions, the experience of the Tula region in assessing the level of citizen satisfaction with the conditions for physical education and sports were discussed, and proposals were made to include new events in the comprehensive program, such as “Sports in the countryside”, “Development of adaptive physical education and sports”, including rehabilitation of participants in a special military operation, and “Development of corporate sports”.

    CEO and Chairman of the Board of JSC Russian Railways Oleg Belozerov spoke about the support of sports schools located on the Eastern Polygon of the railways, the renovation of sports halls and the acquisition of sports equipment for comprehensive schools in the Far East. He emphasized that all funds allocated by the company to support corporate physical education and sports, as well as to support other sports organizations, are extra-budgetary and Russian Railways is ready to provide the necessary information for the analytical accounting of these funds in the comprehensive state programs of the Russian Federation for the development of physical education and sports.

    The President of the All-Russian Federation of Dance Sport, Breaking and Acrobatic Rock ‘n’ Roll Nadezhda Erastova noted that the main sources of funding for the federation are sponsorships and donations. These funds are used for athletes to participate in international competitions, conduct training events for national teams, support promising young athletes, as well as finance treatment, internships, monthly bonuses for coaches, assistance and support for regional sports organizations and the popularization of this sport.

    Summing up, Dmitry Chernyshenko noted that the comprehensive program must take into account the activities of the Ministry of Industry and Trade to improve the level of the sports industry and Rosmolodezh to develop sports among young people.

    Decisions were made to include in the program events for the development of the sports industry and sports among young people, as well as to form a Government Commission for the Development of Physical Culture and Sports. The Ministry of Sports was instructed to analyze the methodology for calculating the level of satisfaction of citizens with the conditions for sports activities proposed by the Governor of the Tula Region, and to take into account off-budget financing of events within the program.

    In conclusion, the Deputy Prime Minister invited everyone involved in the topic of sports to attend the forum “Russia – a Sports Power”, which will be held in Ufa on October 17–19.

    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://government.ru/nevs/52992/

    MIL OSI Russia News

  • MIL-OSI Global: How AI can help you make a computer game without knowing anything about coding

    Source: The Conversation – UK – By Daniel Zhou Hao, School of Computing and Mathematical Sciences, University of Leicester

    Even kids can do it. Lassedesignen

    Just as calculators took over the tedious number-crunching in maths a few decades ago, artificial intelligence (AI) is transforming coding. Take Kyo, an eight-year-old boy in Singapore who developed a simple platform game in just two hours, attracting over 500,000 players.

    Using nothing but simple instructions in English, Kyo brought his vision to life leveraging the coding app Cursor and also Claude, a general purpose AI. Although his dad is a coder, Kyo didn’t get any help from him to design the game and has no formal coding education himself. He went on to build another game, an animation app, a drawing app and a chatbot, taking about two hours for each.

    This shows how AI is dramatically lowering the barrier to software development, bridging the gap between creativity and technical skill. Among the range of apps and platforms dedicated to this purpose, others include Google’s AlphaCode 2 and Replit’s Ghostwriter.

    In another example of the power of these apps, an eight-year-old American girl called Fay built a chatbot that purported to be Harry Potter. She had it up and running in just 45 minutes, at which point it asked if she had heard the rumours about the Deathly Hallows and suggested they discuss it over a butterbeer at the Three Broomsticks.

    For those that already know how to code, numerous AI apps have become incredibly helpful too. At the other extreme from the natural language coding apps described above, tools like Tabnine and GitHub Copilot act as intelligent assistants, predicting and autocompleting code as you type.

    Alternatives such as Sourcery and DeepCode go a step further, offering real-time code cleanup, suggesting improvements and fixing vulnerabilities. New tools are emerging weekly, such as OpenAI’s GPT Canvas, a new GPT version designed to help with sophisticated coding. Many of these tools can also translate code from one programming language to another, say from JavaScript to Python.

    The productivity gains that these tools offer are revolutionising the software industry. As many as 70% of companies have already adopted the likes of GitHub Copilot, with coders reporting that AI is enabling them to write software that is more reliable and bug free.

    By removing the need to spend so many hours ironing out human errors, coders are able to spend more time focusing on higher value tasks such as designing system architecture and collaborating with colleagues.

    It is also changing the game for university educators like myself as we race to keep up. We’ve been having to rethink teaching materials and also assessment methods, wrestling with how exactly to grade a student’s coding in situations where AI tools are doing much of the work.

    Today’s limitations

    As exciting as all this is, AI coding is still in its infancy. At this stage it can only help non-coders to build simple applications or games. It can’t yet oversee big complex IT projects by understanding the big picture in a way that a human coder would.

    It can’t yet invent new ways to solve problems either, and is still more likely to lag in areas like, say, spacecraft navigation that require highly specialised knowledge.

    Many tools also don’t write perfect code: a program will often work but won’t be efficient or secure enough for use in the real world. Similarly, AI tools don’t inherently understand the context of the data they process, so may mishandle sensitive information or perpetuate biases present in the data on which they were trained.

    For all these reasons, in professional situations there’s still a need for a coder to make sure that everything is meeting the necessary standards. No doubt in future we may see AI coding tools designed to handle everything from security issues to highly specialised subject matter. Their ability to help non-coders to build apps will also only improve. For now at least, however, AI coding is still amplifying the skills of coders rather than replacing them altogether.

    How to build your own game

    All the same, it’s incredible what you can do with these tools as a non-coder already. Here’s a quick guide to making a simple platform game:

    Step 1: Sign up for an AI tool: Create an account with, say, Cursor or AlphaCode 2 and follow the setup instructions. Depending on which tool you choose, you may need to do a quick install. You may also need to install a programming language such as Python, as well as a source code editor such as VS Studio Code 2 – the coding platform will keep you right on this.

    Step 2: Start your game: Open a new project in the tool. Into the prompt, type: “Create a simple platform game where the platforms are made of sweet treats”.

    Step 3: See what it’s like: Click “run” or “preview” to see what you’ve created (depending on which system you are using, you may have to do this in the source code editor). You should see platforms made of candy or cakes.

    Step 4: Make some changes: Let’s say we change the main character into a parrot. Simply type into the prompt: “Make the avatar a green parrot”.

    Step 5: Add features: Now type into the prompt: “Let the parrot be controlled by the cursor arrows, insert some sweets for it to collect and add a score counter for how many it has collected”.

    Step 6: Test and tweak: Click “run” or “preview” again to test the updated game. Make changes by typing things like, “Insert a black crow that will chase the parrot around the screen. If the crow touches the parrot, freeze the screen and display a message in the middle of the screen saying ‘Too Bad!!!’”. Keep repeating these steps until you’re happy with the results.

    Step 7: Get it out there: You might now want to share your game with friends or online via an app store. It must be said that AI coders are not yet doing this well, so you may find this trickier without prior knowledge. One option is to deploy the game online via a free platform such as Zeabur, as explained here.

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

    ref. How AI can help you make a computer game without knowing anything about coding – https://theconversation.com/how-ai-can-help-you-make-a-computer-game-without-knowing-anything-about-coding-240584

    MIL OSI – Global Reports

  • MIL-OSI Global: Why autumn 2024 is your best chance to see lots of weird and wonderful fungi

    Source: The Conversation – UK – By Rowena Hill, Postdoctoral Researcher in Mycology, Earlham Institute

    Parrot waxcaps fruit in autumn across northern Europe. Dan Molter/Wikipedia, CC BY

    The UK and north-western Europe have had a particularly wet 2024. Extreme weather patterns caused by climate change are nothing to celebrate, but there is one group of organisms that will have appreciated all the rain.

    Numerous languages have a saying to the effect of “growing like mushrooms after the rain”. Indeed, rainfall across the year is a major factor in the prevalence of mushrooms. These are the short-lived structures we see poking above the soil that fungi use for reproduction. The rest of the fungus is actually there all the time, growing within the soil in a web of filaments known as mycelium.

    Similar to the way plants spread their offspring via seeds, fungi produce mushrooms to release spores that can be carried on the wind or spread by animals. As with any organism’s reproduction, it costs the fungus a lot of energy to make mushrooms, so its decision to make this investment will be attuned to when it is likely to have the best chance of success.

    Spores need moisture to germinate, and it generally helps if it’s not too cold. Autumn in the temperate climate found across much of Europe usually provides these conditions in abundance. Add in a mild, wet summer to get things started and that’s why we’re probably looking at a bumper autumn for wild mushrooms in 2024.


    Do the seasons feel increasingly weird to you? You’re not alone. Climate change is distorting nature’s calendar, causing plants to flower early and animals to emerge at the wrong time.

    This article is part of a series, Wild Seasons, on how the seasons are changing – and what they may eventually look like.


    How to make the most of it

    Some of the most prized gourmet mushrooms can be foraged in autumn, like chanterelles or porcini. When done responsibly, it’s a great hobby. But foragers beware: there has been an influx of mushroom identification books written by generative-AI and riddled with (potentially deadly) errors, so always get information about edible mushrooms from a safe and reliable source.

    Chanterelle mushrooms are edible (and delicious).
    lzf/Shutterstock

    If you ever feel tempted to pick something without being certain what it is, remember the adage: “there are old mushroom hunters and there are bold mushroom hunters, but there are no old bold mushroom hunters”. Never munch on a hunch.

    Autumn is the most productive season for mushrooms in temperate regions, though spring is fruitful too; St George’s mushroom was named for its tendency to appear around April 23. It’s also not only mushroom-forming fungi that have these seasonal and weather-driven patterns. Cases of a nasty lung infection called valley fever in the south-western US are caused by the microscopic Coccidioides soil fungi. They peak in the autumn, with particular surges in years following wet winters.




    Read more:
    Fungal infections known as valley fever could spike this fall – 3 epidemiologists explain how to protect yourself


    Considering fungi are so dependent on weather and temperature, it’s not surprising that the timing and overall length of mushroom production is being affected by climate change. This mirrors the shifts in seasonal patterns for plants and animals.

    While an extended mushroom season could sound like good news to foragers, unfortunately, changing conditions may make fungal diseases like valley fever a bigger problem. And as extreme floods become more common, exposure to mould fungi will probably become a more pressing health issue in homes.

    Mushrooms are full of water, so wet autumn weather tends to favour fungi.
    Sergei Kochetov/Shutterstock

    Fungi aren’t just rain-lovers, though, they’re actually also rain-makers. Spores released into the atmosphere from fungi can act as a surface on which moisture in the air can form water droplets, and when this happens on a large scale it can contribute to the formation of clouds.

    This is just one example of the many underappreciated ways that fungi support our environment. Come rain or shine, I hope that you have the opportunity to get out into nature this autumn and enjoy the fungi.

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

    ref. Why autumn 2024 is your best chance to see lots of weird and wonderful fungi – https://theconversation.com/why-autumn-2024-is-your-best-chance-to-see-lots-of-weird-and-wonderful-fungi-240280

    MIL OSI – Global Reports

  • MIL-OSI Economics: Chamber pulse: Global markets, local landscapes

    Source: International Chamber of Commerce

    Headline: Chamber pulse: Global markets, local landscapes

    The survey at a glance

    200

    Over 200 chambers of commerce surveyed

    96

    Respondents from 96 countries spanning five continents

    90

    Representing 90% of global GPD

    Global business environment, constraints and outlook: The chamber view

    While chambers generally hold a positive view of the current business environment, there are significant regional differences. Negative perceptions are concentrated in countries facing political and economic instability. Nearly half of respondents believe that the global trade environment has hampered business operations.

    At the aggregate level, the main constraints for businesses are

    • shortage of labour or skilled labour,
    • inflation,
    • geopolitical tensions,
    • taxation, and
    • financial problems.

    But the hurdles businesses face tend to vary depending on the region.

    The global outlook remains largely positive. Nevertheless, some regions, notably MENA and South Asia, anticipate a more pessimistic future, with 20% of respondents in these areas expecting a bleak business outlook.

    Artificial intelligence continues to spark debate

    Seven out of 10 respondents see AI as both a risk and an opportunity. The uncertainty around the future prospects of AI is linked to its limited application to certain sectors with high innovation.

    Inflation and limited access to finance still weigh heavily on businesses

    Over 80% of respondents expect inflation to rise, affecting operating costs, wages, supply chains and competitiveness, with concerns especially pronounced in North America and Sub-Saharan Africa.

    The economic environment and tight financial conditions hinder access to finance.

    Businesses and the climate transition: what is at stake?

    Businesses are adapting to climate change policies by adopting green technologies, developing sustainable products, and diversifying energy sources. In South Asia and Sub-Saharan Africa, diversifying energy sources is the primary solution for more than 80% of respondents. In Latin America, Europe and Central Asia, the focus is on developing sustainable products or services.

    The main challenges in addressing climate change centre on how much funding is available and how to implement changes. Opportunities for businesses include gaining a competitive advantage through green practices and creating jobs in green industries.

    To support small- and medium-sized enterprises in the climate transition, chambers insist on the need to provide fiscal support, promote the adoption of digital technologies, and enhance collaboration within supply chains.

    For further information please contact Melanie Laloum, ICC Lead Economist, or Leonardo Barbosa, Lead, ICC WCF Governance and Operations.

    MIL OSI Economics

  • MIL-OSI: Bybit Elevates WSOT Rewards Experience with Fiat x WSOT Challenge

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 14, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce a new World Series of Trading (WSOT) side challenge with two new prize pools for fiat users. In addition to the 10,000,000 USDT total prize pool of WOST 2024, new joiners and traders of Bybit Fiat can now sign up to divide up rewards up to 28,800 USDT.

    From now to Nov. 4, 10AM UTC, Bybit users may register for one or both of the following challenges:

    Event 1: Beginner Fiat Deposit

    Bybit is giving away 20,000 USDT to new users of its fiat offerings. The first 2,000 users who make a first-time deposit of at least $100 via Bybit’s One-Click Pay, P2P, or Fiat Deposit will be rewarded with a bonus 10 USDT

    Event 2: Fiat Trading Competition

    Users may also step up their game in the Fiat Trading Competition to turn their trading skills into bonuses. Based on performance, the top 50 traders will share a 8,800 USDT prize pool.

    “Whether you are a sole trader or a squad member, WSOT 2024 promises to create a rewarding experience for crypto enthusiasts and for the Bybit community. Bybit is devoted to its mission to craft a rewarding, exciting, and community-first platform and WSOT 2024 marks the perfect occasion to level up our rewards. We encourage users to diversify their investments and balance their assets across products, and this is a great opportunity to try out fiat and test your trading skills,” said Joan Han, Sales and Marketing Director at Bybit. 

    This year’s WSOT offers multiple bonus tracks for participants to maximize their chance at rewards, including traders and depositors of Bybit who are not competing in the WSOT main event. From trading tasks, lucky draws, to livestreaming with airdrops, there is not a dull moment throughout the WSOT 2024 season. The longest-running and largest trading competition of its kind, Bybit’s WSOT has evolved from a community event to a benchmark for trading excellence since 2020.

    Check out the Fiat x WSOT Challenge event page for details and terms and conditions. 

    #Bybit / #TheCryptoArk / #WSOT2024

    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, please visit Bybit Press 

    For media inquiries, please contact: media@bybit.com

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

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

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

    Contact

    Head of PR

    Tony Au

    Bybit

    tony.au@bybit.com

    The MIL Network

  • MIL-OSI Asia-Pac: PM to inaugurate ITU World Telecommunication Standardization Assembly 2024 in New Delhi on 15th October

    Source: Government of India

    PM to inaugurate ITU World Telecommunication Standardization Assembly 2024 in New Delhi on 15th October

    PM to also inaugurate 8th edition of India Mobile Congress 2024

    For the first time the ITU-WTSA will be hosted in India and the Asia-Pacific

    3,000 industry leaders, policy-makers and tech experts from over 190 countries to participate in ITU-WTSA

    Theme of the 8th edition of India Mobile Congress is “The Future is now”

    India Mobile Congress 2024 will showcase over 400 exhibitors, about 900 startups, and participation from over 120 countries

    Posted On: 14 OCT 2024 5:31PM by PIB Delhi

    Prime Minister Shri Narendra Modi will inaugurate the International Telecommunication Union – World Telecommunication Standardization Assembly (WTSA) 2024 at Bharat Mandapam in New Delhi on 15th October at 10 AM.

    Prime Minister will also inaugurate the 8th edition of India Mobile Congress 2024 during the programme.

    WTSA is the governing conference for the standardization work of International Telecommunication Union, the United Nations Agency for Digital Technologies, organised every four years. It is for the first time that the ITU-WTSA will be hosted in India and the Asia-Pacific. It is a pivotal global event that will bring together more than 3,000 industry leaders, policy-makers and tech experts from over 190 countries, representing telecom, digital, and ICT sectors.

    WTSA 2024 will provide a platform for countries to discuss and decide the future of standards of next-generation critical technologies like 6G, AI, IoT, Big Data, cybersecurity, etc. Hosting this event in India will provide the country an opportunity to play a key role in shaping the global telecom agenda and to set the course for future technologies. Indian startups and research institutions are set to gain critical insights into developing Intellectual Property Rights and Standard Essential Patents.

    India Mobile Congress 2024 will showcase India’s innovation ecosystem, where leading telecom companies and innovators will highlight advancements in  Quantum technology and Circular Economy along with spotlight on 6G, 5G use-case showcase, cloud & edge computing, IoT, semiconductors, cybersecurity, green tech, satcom and electronics manufacturing.

    India Mobile Congress, Asia’s largest digital technology forum, has become a well-known platform across the globe for showcasing innovative solutions, services and state-of-the-art use cases for industry, government, academics, startups and other key stakeholders in the technology and telecom ecosystem. The India Mobile Congress 2024 will showcase over 400 exhibitors, about 900 startups, and participation from over 120 countries. The event also aims to showcase more than 900 technology use case scenarios, host more than 100 sessions and discussion with over 600 global and Indian speakers.

    ***

    MJPS/SS/VJ/SR/BM/SKS

    (Release ID: 2064716) Visitor Counter : 57

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Secretary (DEPwD) inaugurates ‘Pradhan Mantri Divyasha Kendra’ at National Institute for the Empowerment of Persons with Visual Disabilities (NIEPVD), Dehradun

    Source: Government of India

    Posted On: 14 OCT 2024 6:28PM by PIB Delhi

    Secretary, D/o Empowerment of Persons with Disabilities (DEPwD), Shri Rajesh Aggarwal, inaugurated a new ‘Pradhan Mantri Divyasha Kendra (PMDK)’ of the Artificial Limbs Manufacturing Corporation of India (ALIMCO), at the National Institute for the Empowerment of Persons with Visual Disabilities (NIEPVD), Dehradun. Shri Aggarwal also  inspected various units of PMDK, like Prosthetics and Orthotics Lab, Store Room, Audiology Room etc.

    In his address on the occasion, the Secretary appreciated the various services run by the Institute and highlighted the importance of these services for the empowerment of Divyangjans. He informed that so far 65 such Divyasha Kendras have been established and the future target is to take it to 300.

    Shri Aggarwal also inspected all the machines and equipment of the MBA (Manufacture of Braille Appliances) workshop. He directed to make every possible effort to improve them further and directed to sell some abandoned machines through MSTC Limited, as soon as possible. The new building of Training Centre for the Adult Blind (TCAB) and Deptt. of Special Education and Research (DSER) was also inspected and instructions were given to speed up the project.

    On the occasion, electric tricycles were provided to Divyangjans in presence of the Secretary at the Divyasha Kendra. Shri Aggarwal talked to various beneficiaries and also motivated them to earn their livelihood with the help of these aids.

    Thereafter, Shri Aggarwal visited the book promotion center of National Book Trust (NBT) and looked into the various programmes for Divyangjans. He appreciated the initiative of audio conversion of self-composed stories being prepared by the children of the institute’s Model School. The Secretary directed to speed up the process of audio conversion of books using artificial intelligence.

    During the event, Director (NIEPVD), Er. Manish Verma, gave a brief  description to the Secretary about the services being provided by the Institute. The Secretary also discussed the effectiveness of these services and gave suggestions to improve them further.

    *****

    VM

    (Release ID: 2064757) Visitor Counter : 52

    MIL OSI Asia Pacific News

  • MIL-OSI United Nations: Human Rights Committee Opens One Hundred and Forty-Second Session in Geneva

    Source: United Nations – Geneva

    The Human Rights Committee today opened its one hundred and forty-second session, during which it will examine the reports of Ecuador, France, Greece, Iceland, Pakistan and Türkiye on their implementation of the provisions of the International Covenant on Civil and Political Rights.

    In opening remarks, Dimiter Chalev, Chief, Rule of Law, Equality and Non-Discrimination Branch, Office of the High Commissioner for Human Rights, and Representative of the Secretary-General, said he was pleased that all the annual sessions of the treaty bodies could take place this year despite the current liquidity situation facing the United Nations, including the Committee’s one-week working group on communications.  This session was taking place amidst escalating human rights concerns in the context of widening inequalities throughout the world, war on various continents, and an unprecedented electoral year in which nearly half of the world’s population was called upon to vote.  The Committee’s work was essential in ensuring that the voices of the marginalised were heard, that violations were documented, and that States parties were reminded of their obligations under the Covenant. 

    With respect to developments specifically related to civil and political rights, several key reports were considered by the Human Rights Council during its most recent session that ended last Friday.  The High Commissioner’s report on terrorism and human rights focused on the increased use of administrative measures in counter-terrorism, and drew from the Committee’s recommendations to many States.  The Council was also presented with a study by the Office of the High Commissioner on the role of the rule of law and accountability, at the national and international levels, which emphasised the critical role of the rule of law and accountability in preventing human rights violations and abuses.  

    The High Commissioner also presented his report on racial justice and equality, in which he highlighted multiple and intersecting forms of discrimination experienced by Africans and people of African descent in various regions.  The Expert Mechanism to advance racial justice and equality in law enforcement presented its report on justice, accountability and redress for human rights violations committed by law enforcement officials against Africans and people of African descent.  It was noteworthy that these reports specifically referenced the work of the Committee, including its general comments and Views.  As these reports demonstrated, the work of the Committee provided a vital legal and moral framework that empowered mechanisms to hold States accountable for violations of civil and political rights.

    Mr. Chalev noted the increased collaboration between the Committee and the Expert Mechanism on the Rights of Indigenous Peoples, demonstrated by the participation of a Committee member in this year’s Expert Mechanism seventeenth annual session.  

    The first report of the Secretary-General on the human rights implications of digital technologies and artificial intelligence in the administration of justice related to the Committee’s mandate.  The report had recently been issued and would be presented to the General Assembly at the current session.  For example, one of the recommendations was that in their reports to treaty bodies, States could provide information on the design, use and deployment of digital technology and artificial intelligence in their justice systems.  Such information would increase transparency and allow the Committee to provide oversight and guidance on the compatibility of such technology with the provisions of the Covenant.  Almost one month ago, the General Assembly adopted the Pact for the Future, described as a “groundbreaking pact . . . to transform global governance.”  While waiting to learn the precise implications of the Pact for the treaty bodies, the renewed commitment to human rights was welcomed.

    This marked the last session of four members whose terms would end at the end of the year and their service was deeply appreciated.  This session, the Committee would examine the implementation of the Covenant in six States parties, adopt one list of issues and six list of issues prior to reporting, and review several individual communications under the Optional Protocol.  Mr. Chalev wished the Committee a successful and productive session.

    The Committee adopted its agenda and programme of work for the session.

    Tania Abo Rocholl, Committee Chairperson, thanked Mr. Chalev for the opening statement and said the issues he had raised were key to the Covenant and the Committee took them very seriously.  The Committee wanted to thank the Office of the High Commissioner for the efforts made for the success of the Committee’s sessions.  Last year had been one of great challenges for the Office, and it was hoped they could work hand in hand towards the common goal of better human rights across the world. 

    Wafaa Bassim, Committee Expert and Chair of the working group on communications, presented the working group’s report for the one hundred and forty-second session.  The working group had considered 19 drafts relating to 297 communications, which was a record number of communications examined at one single session by any Committee.  The Working Group also considered communications raising new and complex issues such as the jurisdiction in situations of sub-contracted immigration detention facilities in another State, the assessment of special penitentiary regimes imposed on specific groups of sentenced individuals, birth registration, and intra-family rape of girls, among others.  The Committee also considered communications and covered issues relating to non-refoulement and deportation, freedom of religion, fair trial, and arbitrary detention, among others.  The Working Group was putting for consideration of the plenary seven drafts of inadmissibility, one simplified draft with a finding of violation, and 11 drafts proposing a violation of the provisions in the Covenant.

    The Human Rights Committee’s one hundred and forty-second session is being held from 14 October to 7 November 2024.  All the documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 3 p.m. on Tuesday, 15 October, to begin its consideration of the sixth periodic report of Iceland (CCPR/C/ISL/6).

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    CCPR24.020E

    MIL OSI United Nations News

  • MIL-OSI United Nations: Civil Society Organizations Brief the Committee on the Elimination of Discrimination against Women on the Situation of Women in Chile, Canada, Japan, Cuba and Benin

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women was this afternoon briefed by representatives of civil society organizations on the situation of women’s rights in Chile, Canada, Japan, Cuba and Benin, whose reports will be considered during the second and third weeks of the session.

    In relation to Chile, speakers raised concerns regarding gender-based violence, abortion, and the treatment of trans people.

    Those speaking on Canada raised topics including the treatment of indigenous women and girls, femicide, and harassment of migrant workers. 

    On Japan, speakers addressed the selective surname system, Japan’s military sexual slavery, and women’s pensions.

    Speakers for Cuba raised issues including legislation on femicide, women in poverty, and the treatment of lesbians. 

    In relation to Benin, speakers addressed human trafficking, attacks on lesbian, gay, bisexual, intersex, queer and transgender people, and discrimination of sex workers. 

    The National Rights Institute of Chile and the Children’s Rights Ombudsperson of Chile spoke on Chile, as did the following non-governmental organizations: Corporation of Opportunity and Jointly Action Opcion – OPCION; Federación Luterana Mundial; and CIMUNIDIS – Círculo Emancipados de Mujeres y Niñas con Discapacidad de Chile.

    The following non-governmental organizations spoke on Canada: Union of BC Indian Chiefs; South Asian Legal Clinic of Ontario and Colour of Poverty – Colour of Change; Justice for Girls and Just Planet; Cecile Kazatchkine, on behalf of HIV Legal Network, Barbra Schlifer Commemorative Clinic; Bout du monde; Amnesty International Canada; Aysha Khan, on behalf of International Human Rights Program (IHRP) at the University of Toronto Faculty of Law, Global Human Rights Clinic (GHRC) at the University of Chicago Law School, and a coalition of almost 50 organizations; Development Alternatives with Women for a New Era (DAWN); International Physicians for the Prevention of Nuclear War Canada (IPPNWC); and Amnesty International Canada. 

    The following non-governmental organizations spoke on Japan: Family Association of the Missing Persons Probably Related to the DPRK; Association to Preserve the Family Bond; People’s Alliance for Protection of Imperial Lineage by Paternal Male Succession to the Imperial Throne; Global Alliance for Anti-Discrimination (GAAD); JNNC (Japan NGO Network for CEDAW); JFBA (Japan Federation of Bar Associations); Be the Change Okinawa, and on behalf of Action Okinawa, Ginowan Churamizu Kai (Clean Water Protection Committee), AIPR, and ACSILs; Warriors Japan; Lawyers and DV Thrivers against Violence and Abuse Japan (LVAJ) and Safe Parents Japan (SPJ); Women’s Political Empowerment; Women’s Active Museum on War and Peace (WAM): and Development Alternatives with Women for a New Era (DAWN) and Pacific Network on Globalisation (PANG).

    The following non-governmental organizations spoke on Cuba: Red de Juristas por los Derechos Sexuales, Unión Nacional de Juristas de Cuba, Asociación Cubana de las Naciones Unidas, Museo Virtual de la Memoria contra la violencia basada en Género Iniciativa para la Investigación y la Incidencia; Cuido 60; Red de Mujeres Lesbianas y Bisexuales; CUBALEX; Justicia 11J; FMC; Prisoners Defenders; Mesa de Diálogo de la Juventud Cubana; and Observatorio de Género de Alas Tensas y Museo de la Disidencia en Cuba.

    The following non-governmental organizations spoke on Benin: Right here Right Now 2 and CFMPDH; Synergie Trans Bénin; Association Solidarité; Changement Social Bénin; and Plurielles.

    The Committee on the Elimination of Discrimination against Women’s eighty-ninth session is being held from 7 to 25 October.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 10 a.m. on Tuesday, 15 October, to  consider the eighth periodic report of Chile (CEDAW/C/CHL/8).

    Opening Remarks by the Committee Chair

    ANA PELÁEZ NARVÁEZ, Committee Chairperson, said this was the second opportunity during the session for non-governmental organizations to provide information on States parties that were having their reports reviewed during the second and third weeks of the session, namely Chile, Canada, Japan, Cuba and Benin.

    Statements by Non-Governmental Organizations 

    Chile

    Non-governmental organizations speaking on Chile said sexual violations had increased drastically between 2019 and 2023.  Protection measures continued to be deficient.  It was concerning that violence against girls and adolescents was increasing. As of June 2023, there were 42 pregnant women and 100 children living with their mothers in prison systems. There needed to be a cultural change in the community, whereby gender-based violence was no longer acceptable. There needed to be a comprehensive sexual education law to ensure rights for women and adolescents.  The abortion regime based on legal grounds was insufficient and there were barriers to accessing contraceptives in primary health care.  Warnings had been issued about six defective contraceptive pills with no steps taken to investigate or provide reparations to those affected.  In Chile, around 800,000 migrant women faced violence and hate speech, especially those with irregular migration status.  The humanitarian visa for migrants was not implemented well in practice. 

    Since 2019, there had been a Constitutional Legal Reform Act, establishing the State’s duty to fight gender equality.  The State’s anti-discrimination law had been in congress for five years and was in danger of being rejected.  Chile had yet to fulfil its obligation to repeal laws discriminating against married women or subordinating them to their husbands.  The comprehensive law on violence against women did not include protection measures for women in penitentiary institutions who had suffered violence.  Violence against trans-people had increased by 145 per cent, and trans-femicide was not recognised as a crime.  The State showed no willingness to address issues faced by trans-people.  Women and girls with disabilities in Chile experienced discrimination.  A report by the Office of the High Commissioner found that there were 163 suspicious deaths in short-stay mental health facilities.  There had been reports of electro-shock therapy on girls with disabilities. 

    Canada

    Speakers on Canada said there were genocidal consequences for indigenous women and girls in the country.  These violations were tied to colonial policies. In its 2015 inquiry, the Committee found that indigenous women and girls suffered from the worst socio-economic conditions, as well as systemic racism and violence, which manifested as pervasive poverty, lack of access to housing, high rates of child apprehension, and disproportionate criminalisation.  The Committee had found that sex discrimination in Canada’s Indian Act was a root of violence, marginalising women and their descendants, excluding them from their lands, cultures and communities, and disentitling them to full personhood.  The 2019 National Inquiry into Missing and Murdered Indigenous Women and Girls issued 231 Calls for Justice.  To-date, only two were complete, and more than half had not been started. Colonialism and the legacy of Residential Schools continued to impact indigenous girls’ access to education. Racialised communities faced oppression in Canada, with Black femicide and forced sterilisations of Black and indigenous women erased due to data gaps and under-reporting. 

    Canada was failing to take serious action on gender-based violence.  Femicides were increasing, with a woman killed every 2.5 days.  But this was not taken into account in the national action plan. Survivors of gender-based violence needed stronger protections and support services.  Law enforcement and judicial officers must receive proper training on these violence dynamics.  Canada needed to ensure survivors were not criminalised for self-defence, and strengthen protections against coercive control and litigation abuse.  In Canada, women who used drugs and indigenous women were disproportionately impacted by HIV/AIDS and faced increased risk of violence and barriers to healthcare.  Migrant workers and migrant sex workers in Canada faced significant oppression due to restrictive work permits, increasing their vulnerability to workplace abuse, harassment and sexual violence. Canada must remove these restrictions, decriminalise these groups, and establish policies that ensured safe working conditions.

    Canada was also implicated in exploitative deep-sea mining, as Canadian companies sought financial gains through predatory partnerships with some Pacific Island States.  These companies must be investigated.  Pacific women and Canadian indigenous women deeply opposed these projects, as they threatened the ocean and marine life.  Canadian resource extraction projects had also increased violence in Ecuador against indigenous women, which would be exacerbated by a proposed free trade agreement.

    Japan

    Speakers on Japan raised issues including objecting to separate surnames after marriages, which could destroy family unity and have negative impacts on children.  The immediate adoption of a selective surname system for married couples was needed.  The ruling party’s promotion of expanding the use of maiden names did not address gender discrimination.  Half of single-mother households lived in relative poverty, as 70 per cent of them did not receive child support and were unable to escape poverty, due to the significant wage gap between men and women. 

    The issue of Japan’s military sexual slavery had been raised 30 years ago before the Committee in 1994. Measures taken by the State were not victim-centred, and therefore failed.  The Government of Japan was called on to recognise that the “comfort women” issue remained unresolved and to fully implement the previous Committee recommendations.  The Status of Forces Agreement between Japan and the United States should be revised to eliminate violence against women linked to United States’ military bases in Okinawa and elsewhere.  There had been seven cases of gender-based violence against women and girls by the United States’ military within the past 11 months.  Since 1954, over 210,000 crimes and accidents by the military had occurred.  There needed to be comprehensive actions taken to end the culture of impunity. Japan needed to accept that the “comfort women” system was one of sexual slavery, and that it had a legal responsibility to provide reparations to all victims. 

    The ratification of the Optional Protocol should be expedited, and there should be a comprehensive anti-discrimination law.  Japan was also urged to create a permanent gender equality committee, to monitor the implementation of the Convention’s concluding observations.  There was an urgent need for the establishment of an independent, national human rights institution in line with the Paris Principles. It was crucial to eliminate low wages and pensions for women due to the gender wage gap, non-regular employment, and unpaid work.  The Japanese Government was also urged to rescue all abductees from the Democratic People’s Republic of Korea.  The Committee was urged to recommend that Japan stop dumping radioactive wastewater in the Pacific Ocean and take immediate steps towards safely disposing the waste on land. 

    Cuba

    Those speaking on Cuba said Cuban women were calling for a robust legislative change of gender-based violence. The State needed to work to coordinate actors on gender issues.  The State should systematically assess the impact of legislation and public policies on gender equality.  The Committee was urged to pay special attention to the devastating impacts of the embargo which had a detrimental impact on women’s organizations. 

    There was a comprehensive law against gender-based violence, but the act of femicide should be defined.  The rate of femicide was occurring in Cuba more than 10 times that which was occurring in Spain.  Cuba had serious deficiencies in the reparation system of gender-based violence.  The legislation should be reformed to establish provisional payments which provided immediate support, particularly to women of African descent or those with low income.  The State should strengthen mechanisms for the prevention and punishment of gender-based violence, and redouble efforts to deconstruct gender stereotypes. 

    Poverty in Cuba today had the face of a woman, particularly that of an Afro-descendent, elderly woman.  Social rights had been cut by the State and women were further exposed to food insecurity and poverty.  The health care system lacked regulations to protect lesbians from phobic treatment.  There needed to be training and awareness raising for health professionals to provide care, free of stigma and phobia. 

    Benin

    Organizations speaking on Benin said women were economically and sexually exploited in Benin as part of human trafficking.  Legislation on this was vague.  Benin was a country of origin, transit and destination of women and children for human trafficking.  It was recommended that the definition of procuring be outlined in the Criminal Code. 

    In Benin, lesbian, gay, bisexual, intersex, queer and transgender people underwent verbal, physical and sexual attacks. Discrimination undergone by these women worsened their economic positioning.  No specific healthcare programme took these people into account, despite their vulnerability.  Lesbian women were not seen as key members of the population.  Religious beliefs and fear of side effects prohibited access to abortion, despite it being decriminalised in 2020.   It was recommended that Benin set up mobile clinics all over the country to facilitate access to sexual and reproductive services. Safe abortion should be accessible without the need for authorisation from a third party. 

    Sex workers continued to be discriminated against in Benin.  The only existing instruments were oppressive in nature.  The national health development plan excluded the healthcare of sex workers.  Today, some services did not cover the medicine for sexually transmitted diseases for sex workers.   If a sex worker underwent an act of violence, victims were required to submit a medical certificate which came at a cost that was prohibitive for these women. 

    Questions by Committee Experts

    A Committee Expert said since there had been a reshuffle in the cabinet in Japan, what was the status of the Gender Ministry?  Who was heading it?  Was there a COVID-19 response plan that covered gender-based violence?  On Canada, was female genital mutilation still an issue?  What was the gravity of the occurrence of femicide? 

    Another Expert asked if the Japanese organizations had information around restricted access to abortion, including that permission was required from a spouse or partner?  Could information on the lack of sexual reproductive education for young people be provided?

    An Expert asked Cuba what services were available for persons deprived of liberty, which were not available to lesbian, gay, bisexual, transgender and intersex persons?  What were the rules related to internal migration in Cuba? 

    A Committee Expert asked Chile if the benefits of the Judicial Academy, which aimed to avoid bias and victimisation of women, were being reaped? 

    Another Expert asked Benin about the medical forms for victims of gender-based violence; were these free? What had the Government done to make birth registration free?  Was there a law on legal aid?  If so, what crimes or rights violations qualified for legal aid?  Was there a court to handle family disputes? 

    An Expert asked Cuba whether the labour law included issues of sexual harassment?

    Another Expert asked Canada how many recommendations by the Truth and Reconciliation Commission had been met?

    A Committee Expert asked Cuba about the situation of human rights defenders who were women?  In Chile, following the 2017 reform, was abortion still practiced illegally?  Could more information be provided about the extractive and mining industries and their impact on women and communities? 

    An Expert asked Cuba for information around issues pertaining to education? 

    A Committee Expert asked how challenging it was to be a female politician in Benin?

    Statements by the National Human Rights Institution of Chile and the Children’s Rights Ombudsman of Chile

    CONSUELO CONTRERAS LARGO, National Director, National Human Rights Institute of Chile, began by referring to gender-based violence.  According to figures from the National Service for Women and Gender Equity, in the last 10 years, there had been 423 femicides in Chile, with figures per year that fluctuated between 34 and 46 femicides.  In 2024, there were already 29 femicides.  In the last two years, there had been a sharp increase in attempted femicides.  In its 2018 and 2021 Annual Reports, the Institution indicated statistical difficulties in recognising violence that affected women in different contexts, since the State did not disaggregate the information into characterisation variables. Consequently, the treatment of violence against women was addressed in a uniform manner, which homogenised the situation of discrimination and violence, preventing the design of public policies capable of responding to different needs.  The State should implement disaggregation of data, particularly for rural women, women with disabilities, and other groups. 

    The Programme for the Comprehensive Prevention of Violence against Women had a budget which was 2.38 per cent of the budget of the ministerial portfolio, which was limited considering the magnitude of the task.  For the 2024 budget, the authorities announced a growth of 5.2 per cent, as part of their programmatic redesign.  The institution remained concerned at the main task defined in the programme.  The programme did not involve any kind of follow-up and it was not possible to discern if those who received the training continued to develop prevention activities. The programme also did not have a territorial focus without taking into account the different realities of women. It was concerning that the courts did not recognise the identity of trans-women in their sentences, according to current gender identity law. 

    The regulatory framework for violence against women had been bolstered.  On 4 March 2020, law no. 21,212 came into force, which redefined and expanded the concept of femicide in Chile.  On 9 May 2023, law 21,565 was published, which established a regime of protection and comprehensive reparation in favour of victims of femicide and their families; and on 14 June, law 21,675 came into force, which established measures to prevent, punish and eradicate violence against women, based on their gender.  There were other legal bodies that had been approved and had entered into force in the country.  Draft bills were moving slowly through the legislature.   Discussions were underway on the bill to reform conjugal partnership and the bill to combat discrimination.  In 2019, a bill was presented that sought to establish the mandatory nature of comprehensive sex education in schools.  This draft was rejected in October 2020 and archived, with no plans for it to be brough back into legislation. 

    As of August 2024, the National Human Rights Institution had registered 19 complaints for human trafficking. During a visit to border regions, the Institute was able to verify the low number of resources of the police units destined to combat trafficking in persons.  The Institute had established the duty of the executive branch to develop and implement a public policy to combat trafficking in persons.  It should also continuously and systematically monitor and evaluate the implementation of new legislation through data collection and analysis and research on internal and cross-border trafficking. 

    ANUAR QUESILLE VERA, Children’s Rights Ombudsperson of Chile, underscored that sexual violence against children and adolescents continued to be one of the most urgent and complex challenges facing the country.  Despite efforts and progress in other areas, the data showed that girls and adolescents continued to be the main victims of this problem.  Between January and June 2024, the Public Prosecutor’s Office of Chile reported a total of 25,352 victims entered into its registries for sexual crimes, of which 59.40 per cent were females under 18.  The State addressed sexual exploitation in a disconnected way, with gaps in areas of prevention, criminal prosecution, punishment and reparation for victims.  It was alarming that, despite the growing incidence of this phenomenon, the State had not prioritised this problem in a systemic manner, which reflected in the limitations faced by the different services and institutions.

    The fate of children in the care of the State was concerning.  There were also new challenges in relation to the security of digital environments. Online platforms and digital spaces had become fertile grounds for the perpetration of sexual violence and abuse. Comprehensive regulation that protected children and adolescents in these spaces was essential.  In view of these challenges, since the beginning of 2024, the Children’s Ombudsman’s Office had urged the Government to adhere to the Council of Europe’s Lanzarote Convention, which was seen as a key tool to protect children and adolescents against sexual exploitation and abuse. Unfortunately, no significant progress had been reported in this regard. 

    In terms of sexual and reproductive rights, the limited perspective on the progressive autonomy, ownership of rights, and agency of girls and adolescents continued to affect their access to the benefits of the law on abortion.    Adolescents were mostly seeking abortion due to being raped.  The Committee was called on to prioritise legislative strengthening and intersectoral coordination of State institutions, with a focus on increasing resources and adequate training to respond effectively to the challenges posed.

    Questions by Committee Experts

    A Committee Expert asked if the Ombudsperson had any specific information on early marriage, which continued to be a problem?

    Another Expert asked if light could be shed on the issue of comprehensive sexual education in Chile? What were the obstacles?  What should the Committee look at to allow adolescents to access this information? 

    An Expert asked if there were any statistics on how many women who had suffered rape in Chile had then resorted to abortion, and how often was this denied? 

    A Committee Expert asked about the pension gap in Chile? 

    Another Committee Expert asked about the anti-discrimination bill which was presented to amend the Constitution in regard to multiple discrimination?  What were the social and political drivers which did not allow this bill to pass? 

    An Expert asked about global supply chains which were growing in importance in Chile, which was exporting agricultural products to neighbouring countries.  Had any gender-based violence been identified in the supply chains? 

    Responses by the National Human Rights Institution of Chile and the Children’s Rights Ombudsman of Chile

    In response, JUAN ENRIQUE PI, International Adviser, said the Anti-Discrimination Act did not reform the Constitution; the Constitution of 1980 still prevailed.  There seemed to be no movement to further prohibit discrimination. In 2020, there had been an attempt to bring about an act on comprehensive education, to prevent sexual violence against girls and boys.  However, this bill was rejected by a majority and had been shelved.  There was currently no bill in Chile to address sex education in schools.  There was no initiative under discussion. 

    ANUAR QUESILLE VERA, Children’s Rights Ombudsperson of Chile, said Chile had raised the age of marriage to 18.  However, one of the key problems being faced by the country had to do with informal unions in rural areas.  It was difficult to obtain figures on these. 

    JAVIERA SCHWEITZER GONZÁLEZ, International Affairs Coordinator, said when it came to the law on abortion, there was an information gap.  Almost 99 per cent of cases of young girls and adolescents undergoing abortion did have some support.  When it came to conscientious objection, this was of particular concern.  There was no protocol providing for a lack of equipment and there were no available teams. Civil society said the law enforced did not cover training and guidelines and the rights which should protect medical teams.  Furthermore, in the case of rape, few people went to health centres because of revictimisation.  Some headway had been made in comprehensive sex education, however, there were restrictions in terms of its effective implementation.  There had been a drop in the number of teenage pregnancies, but this was due to a use of contraceptives and not comprehensive sexual education. Teenagers had also identified a gap in comprehensive sexual education. 

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    CEDAW24.027E

    MIL OSI United Nations News

  • MIL-Evening Report: The AI sexbot industry is just getting started. It brings strange new questions – and risks

    Source: The Conversation (Au and NZ) – By Raffaele F Ciriello, Senior Lecturer in Business Information Systems, University of Sydney

    DALL-E via Shutterstock

    Artificial intelligence (AI) is getting personal. Chatbots are designed to imitate human interactions, and the rise of realistic voice chat is leading many users to form emotional attachments or laugh along with virtual podcast hosts.

    And that’s before we get to the really intimate stuff. Research has shown that sexual roleplaying is one of the most common uses of ChatGPT, and millions of people interact with AI-powered systems designed as virtual companions, such as such as Character.AI, Replika, and Chai.AI.

    What does this mean for the future of (human) romance? The prospects are alarming.

    Better be nice to your AI overlord

    The most prominent AI companion service is Replika, which allows some 30 million users to create custom digital girlfriends (or boyfriends).

    While early studies indicate most Replika users are male, Caucasian and under 30, other demographics are catching up. Male sex robots have been in the making for some years. And they’re more than just vibrators with integrated jar openers.

    For a subscription fee, users can exchange intimate messages or pictures with their AI partners. Over half a million users had subscribed before Replika temporarily disabled its “erotic roleplay” module in early 2023, fearing regulatory backlash — a move that users dubbed “The Lobotomy.”

    The Replika “lobotomy” highlights a key feature of virtual companions: their creators have complete control over their behaviour. The makers of apps can modify or shut down a user’s “partner” – and millions of others – at any moment. These systems also read everything users say, to tailor future interactions and, of course, ads.

    AI is coming to the physical sexbot industry too.
    Shutterstock

    However, these caveats don’t appear to be holding the industry back. New products are proliferating. One company, Kindroid, now offers voice chats with up to ten virtual companions simultaneously.

    The digital world isn’t the limit either. Sex doll vendors such as Joy Love Dolls offer interactive real-life sexbots, with not only customisable skin colour and breast size, but also “complete control” of features including movement, heating, and AI-enabled “moans, squeals, and even flirting from your doll, making her a great companion”.

    For now, virtual companions and AI sexbots remain a much smaller market than social media, with millions of users rather than billions. But as the history of the likes of Facebook, Google and Amazon has taught us, today’s digital quirks could become tomorrow’s global giants.

    Towards ethically sourced AI girlfriends?

    The availability of AI-driven relationships is likely to usher in all manner of ethically dubious behaviour from users who won’t have to face the real-world consequences.

    Soon, you might satisfy any kink with your AI girlfriend for an extra fee. If your AI wife becomes troublesome, just ask the corporate overlord to deactivate her envy module — for a price, of course. Or simply delete her and start fresh with as many AI mistresses as you like in parallel.

    The way people form relationships has already been disrupted by dating apps such as Tinder and Bumble.

    What will happen if, in the future, people looking for love are competing against perfect synthetic lovers that are always available and horny? Well, at least they’ll be able to create virtual replicas of those hot dates they didn’t land.

    And for those who lack the skills to create their own virtual companions, there will be plenty of off-the-shelf alternatives.

    An ABC investigation revealed the use of generative AI to create fake influencers by manipulating women’s social media images is already widespread. This is generally done without consent to sell pornographic content. Much of this content depicts unattainable body ideals, and some depicts people who appear to be at best barely of consenting age.

    Another likely application? Using AI sexbot technology to bring celebrities such as Marilyn Monroe and Clara Bow back to life. After all, dead people cannot deny consent anymore.

    Replika itself was inspired by its founder’s desire to recreate her late best friend through a chatbot. Many use the app to keep deceased loved ones around. What a time to be alive (or dead)!

    The potential for emotional manipulation by inventive catfishers and dictators is alarming. Imagine the havoc if figures like Russia’s Vladimir Putin or North Korea’s Kim Jong-un harness this technology to complement their nations’ already extensive cyber-espionage operations.

    Perhaps before long we will see corporations offering “responsibly sourced” AI girlfriends for the more ethical consumer – organically grown from consensually harvested content, promoting socially acceptable smut.

    Society and the state must act now

    With loneliness rising to epidemic levels — surveys suggest up to one in four people in OECD countries lack human connection — the demand for sexbots is only going to grow. Corporations will meet this demand unless society and the state set clear boundaries on what’s acceptable.

    Sex and technology have always co-evolved. Just as prostitution is “the oldest profession”, porn sites are some of the oldest corners of the internet. However, the dystopian potential of sexbots for mass-customised, corporate-controlled monetisation of our most intimate sphere is unprecedented.

    Users aren’t entirely blameless, either. There’s something vicious about replacing a real human being with a totally submissive lust machine.

    Early studies suggest narcissism is prevalent among users of this technology. Normalising harmful sexual behaviours such as rape, sadism or paedophilia is bad news for society.

    However, going after users isn’t likely to be the best way to tackle the issue. We should treat sexbot use like other potentially problematic behaviours, such as gambling.

    As with other problematic behaviours where the issue lies more with providers than users, it’s time to hold sexbot providers accountable. As our links to AI are growing ever more intimate, there’s not much time to waste.

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

    ref. The AI sexbot industry is just getting started. It brings strange new questions – and risks – https://theconversation.com/the-ai-sexbot-industry-is-just-getting-started-it-brings-strange-new-questions-and-risks-238998

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Asia-Pac: Minister Scindia Inaugurates Global Standards Symposium (GSS) 2024: sets the stage for the World Telecommunication Standardization Assembly (WTSA) 2024

    Source: Government of India

    Minister Scindia Inaugurates Global Standards Symposium (GSS) 2024: sets the stage for the World Telecommunication Standardization Assembly (WTSA) 2024

    ‘We must ensure innovation thrives not in isolation, but in harmony’: Jyotiraditya M. Scindia, Union Minister of Communications

    ‘GSS will explore how standards can help to expand digital inclusion and foster trust in the digital economy’: Doreen Bogdan-Martin, Secretary-General of the ITU

    Posted On: 14 OCT 2024 6:48PM by PIB Delhi

    The Fifth Global Standards Symposium (GSS-24) was inaugurated by Mr. Jyotiraditya M. Scindia, Minister of Communications and Development of North Eastern Region, at the Bharat Mandapam, New Delhi this morning, marking a historic event for the Asia-Pacific region. This landmark symposium, organized by the International Telecommunication Union (ITU), brought together about 1500 leading policymakers and experts including global ministers from across the globe to discuss the future of digital transformation and the critical role of international standards in enabling the next wave of emerging technologies. GSS 24 is sets the agenda for the WTSA 2024, which is being hosted for the first time in India and a first for all of the Asia-Pacific.

    Speaking at the inaugural session, Union Minister Jyotiraditya M. Scindia, said, “innovation with thrive not in isolation but in harmony.” The Union Minister also spoke about India’s success with new technology as it rolled out 5G across 36 states and union territories within a span of just 22 months, covering 98 percent of all the districts and its Global Stack – Unified Payment Interface, Aadhar card system and the Digi Locker which stores about 6.75 billion documents serving 300 million users. The roll out of 5G is expected to inject 450 billion dollars into the economy by 2040, minister added.

     

    Emphasising India’s role as a global hub for telecommunications and digital innovation, Mr Scindia said, “This historic gathering signifies a pivotal moment for India. We will be driving the future of global standards, ensuring connectivity for all and showcasing our tech prowess”.

    On the subject of challenges posed by new age-technologies, the Minister emphasised, ‘’For AI to serve as a force for good, we must address concerns related to privacy, bias, and transparency. Its deployment must be guided by ethical considerations and robust regulatory frameworks’’.

    The inaugural session was attended by Mr. Jyotiraditya M. Scindia, Minister of Communications and Development of North Eastern Region, India, Ms. Doreen Bogdan-Martin, Secretary -General ITU, Mr. Seizo Onoe, Director, Telecommunication Standardisation Bureau, ITU, Dr. Neeraj Mittal, Secretary, Department of Telecommunications, India.

    Dr. Raj Kumar Upadhyay, CEO and Chairman Project Board at Centre for Development of Telematics chaired the GSS-24.

    Doreen Bogdan-Martin, Secretary-General of the ITU emphasized the critical role of standards in the current global context, “At the highest levels of global governance, standards are top of mind. They are more than mere technical specifications; they foster interoperability, promise innovation, and crucially, can serve as safeguards, ensuring that technology, including artificial intelligence, is developed and deployed responsibly.”

    Dr Neeraj Mittal, Secretary of the Department of Telecommunications (DoT), India, highlighted the symposium’s significance in shaping the future of telecommunications. Stating that “the work we do here will decide the future of telecom”, Dr Mittal emphasized India’s commitment to leading the standardization path forward, focusing on “interoperability, scalability, and security”.

    Dr Rajkumar Upadhyay, CEO of the Centre for Development of Telematics (C-DOT), chaired the event and delivered address on the future of digital transformation. He emphasized the critical role of today’s discussions in shaping tomorrow’s technological landscape, stating, “What we make today will define how AI serves our humanity. Our discussions are more than just conversations; they are building blocks of our shared digital future.”

    ITU-GSS will set the stage for the World Telecommunication Standardization Assembly (WTSA), taking place from 15 to 24 October 2024 in New Delhi, India. This event, organized by the International Telecommunication Union (ITU) and hosted by Department of Telecommunication (DoT) will be held for the first time in India and the Asia-Pacific.

    <><><>

    *****

    SB/DP/ARJ

    (Release ID: 2064772) Visitor Counter : 15

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Health Secretary addresses Annual India Leadership Summit organised by the US-India Strategic Partnership Forum in New Delhi

    Source: Government of India (2)

    Union Health Secretary addresses Annual India Leadership Summit organised by the US-India Strategic Partnership Forum in New Delhi

    The medicines from Indian companies provided 219 billion USD savings to the US healthcare system in 2022 and a total 1.3 Trillion USD savings between 2013 – 2022: Union Health Secretary

    “50% of all vaccines manufactured in the world are from India. In the last one year alone, of the 8 billion vaccine doses manufactured and distributed across the world, 4 billion doses were manufactured in India”

    “India appreciates the NCDC and ICMR Field Epidemiology Training Programs (FETP) organized in collaboration with the U.S CDC which has trained over 200 Epidemic Intelligence Services Officers so far with another 50 currently undergoing training through various programs”

    “U.S.-India Cancer Moonshot Dialogue launched in August aims to enhance U.S.-India biomedical research cooperation, particularly focusing on cervical cancer”

    “Initiatives like the Indo-U.S. Health Dialogue have yielded tangible results in disease surveillance, pandemic preparedness, and antimicrobial resistance. Joint efforts, such as the recent U.S.-India Cancer Dialogue, focus on enhancing biomedical research and cancer prevention in the Indo-Pacific region”

    “India and the U.S. can further strengthen global health security by prioritizing research, technology transfer, and capacity building”

    Posted On: 14 OCT 2024 8:04PM by PIB Delhi

    Smt. Punya Salila Srivastava, Secretary, Ministry of Health and Family Welfare, addressed the annual India Leadership Summit 2024, organised by the US-India Strategic Partnership Forum, here today.

    Addressing the gathering, Smt. Punya said that India has emerged as a global leader in pharmaceuticals, being the third-largest producer and a key supplier of generic medicines. This sector’s success has resulted in substantial savings for healthcare systems worldwide, including a notable contribution to the U.S. healthcare system. “The contribution of the Indian Pharmaceutical Industry is evidenced by the fact that India has the highest number of US FDA-approved pharmaceutical plants outside of the United States. This is 25% of the total number of US FDA-approved pants outside of the US. The medicines from Indian companies, I am told, provided 219 billion USD savings to the US healthcare system in 2022 and a total 1.3 Trillion USD savings between 2013 – 2022”, she stated.

    The country also leads in vaccine production, with a significant share of global manufacturing, underscoring its role as the “pharmacy of the world”. “50% of all vaccines manufactured in the world are from India. In the last one year alone, of the 8 billion vaccine doses manufactured and distributed across the world, 4 billion doses were manufactured in India”, she said.

    To ensure a robust healthcare system, the Union Health Secretary noted that India has reformed medical education, replacing outdated regulatory frameworks with the National Medical Commission Act and related laws. This has led to a significant increase in medical and nursing college numbers and enrolment, addressing disparities in healthcare professional availability”. Consequently, India is poised to produce a competent health workforce that meets both national and global needs.

    Smt. Punya emphasized that government efforts have progressively improved the quality, scale, and cost-effectiveness of healthcare in India. “It is a testament to our expanded healthcare services that the Out-of-pocket expenditure (OOPE), which is borne entirely by the households, has declined by 25 percentage points as a share of Total Health Expenditure between 2013-2014 and 2021-22.

    On the strong Indo-US Partnership in the health sector, the Union Health Secretary stated that “our mutual and shared priorities in the field of surveillance, pandemic preparedness and anti-microbial resistance are underscored in the deep partnership between National Centre for Disease Control (NCDC) and the US Centre for Disease Control & Prevention (CDC)”. “India appreciates the NCDC and ICMR Field Epidemiology Training Programs (FETP) organized in collaboration with the U.S CDC. We are happy to inform that over 200 Epidemic Intelligence Services (EIS) Officers have been trained so far with another 50 currently undergoing training through various programs”, she added.

    India and US have also agreed to initiate a joint strategic framework for optimizing the biopharmaceutical supply chain, for optimizing and strengthening global supply chains and to reduce dependencies on single-source suppliers, through the Bio- 5 alliance. 

    In 2023, Prime Minister, India and President, USA committed to accelerating the fight against cancer, leading to the inaugural U.S.-India Cancer Moonshot Dialogue launched in August. Smt. Punya highlighted that this initiative aims to enhance U.S.-India biomedical research cooperation, particularly focusing on cervical cancer. It includes partnerships with institutions like AIIMS and Tata Memorial Hospital and has evolved into the Quad Cancer Moonshot Initiative. She said that “reflecting India’s vision of ‘One World, One Health,’ a grant of $7.5 million has been dedicated to cancer testing and diagnostics in the Indo-Pacific region. India will also support radiotherapy and cancer prevention efforts in the region, contributing 40 million vaccine doses under GAVI and Quad programs to assist several countries in need of these services.”

    Smt. Punya noted that the India-U.S. partnership in healthcare exemplifies collaborative efforts to address shared health challenges. Initiatives like the Indo-U.S. Health Dialogue have yielded tangible results in disease surveillance, pandemic preparedness, and antimicrobial resistance. Joint efforts, such as the recent U.S.-India Cancer Dialogue, focus on enhancing biomedical research and cancer prevention in the Indo-Pacific region”.

    She concluded her address by stating that “looking ahead, India and the U.S. can further strengthen global health security by prioritizing research, technology transfer, and capacity building. By fostering public-private partnerships and expanding collaborative vaccine initiatives, both nations can improve health outcomes”. Guided by the philosophy of ‘Vasudhaiva Kutumbakam,’ India emphasizes that global security depends on collective efforts, aiming for inclusive growth and shared well-being, she further added.

    ***

    MV

    HFW/ Secy addresses Annual India Leadership Summit /14th October 2024/2

     

    (Release ID: 2064818) Visitor Counter : 63

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Rwanda: EIB Global Backs Akagera Vaccine Development

    Source: European Investment Bank

    EIB

    • €2 million support unlocks early-stage development of vaccine manufacturing.
    • Investment to accelerate development of vaccines against tuberculosis, HIV, Ebola and other diseases

    Early-stage vaccine development in Rwanda by Akagera Medicines Africa Limited will be supported by €2 million financing from the European Investment Bank (EIB Global). The new backing will accelerate research and development as well as manufacturing of new vaccines to treat infectious diseases including tuberculosis, HIV, Lassa fever, and Ebola.

    The new financing will also be used to strengthen technical skills and expertise of Rwanda based teams to support home-grown discovery, manufacturing, and development of vaccine delivery systems within Rwanda.

    The latest health financing from the EIB Global is part of the wider EU Global Gateway initiative for Africa and is designed to unlock crucial investment to improve access to public healthcare. EIB Global supports high impact investment to enhance healthcare and pharmaceutical manufacturing across Africa, strengthen health resilience on the continent, and support equitable access to healthcare in Africa.

    Africa bears the highest disease burden globally and more home-grown or continent based solutions need to be supported. Vaccination is a critical activity to ensure and guide investments in universal health and has a crucial role to play in achieving 14 of the 17 United Nations Sustainable Development Goals.

    Akagera Medicines, Africa was established in Rwanda in July 2022 to develop the pharmaceutical sector in Rwanda and elsewhere in Africa. The company is majority-owned by the Republic of Rwanda through the Rwanda Social Security Board (RSSB).

    Speaking at the World Health Summit in Berlin, Germany, where the financing announcement was made, Michael Fairbanks, Chief Executive Officer of Akagera Medicines said: “We are a public private partnership and enjoy the support of Coalition for Epidemic Preparedness Innovations (CEPI) in Norway, the Gates Foundation, and the National Institute of Health in Washington. With the significant support of the European Investment Bank, we are now a clinical company and moving faster to build human capacity and specialized infrastructure in Africa to support vaccine development. “

    RSSB CEO, Regis Rugemanshuro said: “European Investment Bank’s financial support to Akagera Medicines represents an important contribution to the realization of Rwanda’s vision to become a biotech hub, and to the vision of Africa becoming self-reliant in vaccine and medicine manufacturing. RSSB is looking forward to deepening partnerships with EIB and other international institutions to build resilient healthcare ecosystems in Rwanda and in Africa.”

    EIB Vice President, Thomas Ostros said: “The partnership with Akagera demonstrates the European Investment Bank’s close cooperation with public and private partners to accelerate development of innovative solutions for combating deadly diseases and scaling up healthcare financing and delivery. The EIB is committed to further strengthening our partnership with local and international players, to scale up investment and support innovative technology together.”

    EU Ambassador to Rwanda Belen Calvo Uyarra, said: “Through Global Gateway, the EU is focused on advancing equitable access to health products and local manufacturing in Africa. This investment by EIB with Akagera Medicines marks another important milestone on this journey.”

    The financing to Akagera complements other EU initiatives in Rwanda and the region under the Global Gateway Flagship – Manufacturing and Access to Vaccines, Medicines and Health Technologies (MAV+), which focus mainly on supporting the necessary ecosystem for vaccine manufacturing.

    This is supported by the EU-Africa Infrastructure Trust Fund (EU-AITF), established to increase investment in infrastructure in Sub-Saharan Africa dedicated to projects in Africa with the aim of reducing poverty and fostering economic growth in the region.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner in Global Gateway. We aim to support €100 billion of investment by the end of 2027, around one third of the overall target of this EU initiative. With Team Europe, EIB Global fosters strong, focused partnerships, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world.

    About Akagera:

    Akagera Medicines develops novel liposomal formulations of drugs to treat tuberculosis, RSV, influenza, avian flu, and HIV. The clinical stage company was founded in 2018 in Kigali, Rwanda. It is well-funded, majority-owned by the people of Rwanda through the Rwanda Social Security Board (RSSB), registered as a Delaware corporation, and has laboratories in Boston and San Francisco. Akagera registered a 100%-owned subsidiary in Kigali in 2022 to do manufacturing and clinical trials. Founding board members include Ambassador Dr. Albrecht Conze, Dr. Paul Farmer, and Dr. Donald Kaberuka. Dr. Daryl Drummond and Dr. Dimitri Kirpotin are cofounders who translate their successful delivery system from oncology to infectious diseases.

    MIL OSI Europe News

  • MIL-OSI Banking: Ask a Techspert: What is on-device processing?

    Source: Google

    Every time a new Pixel phone comes out, you might hear that “on-device processing” makes its cool new features possible. Just take a look at the new Pixel 9 phones

    Exactly! Within recent years, there’s been this explosion in generative AI capabilities. At first when we started thinking about running large language models on devices, we thought it was kind of a joke — like, “Sure we can do that, but maybe by 2026.” But then we began scoping it out, and the technology performance evolved so quickly that we were able to launch features using Gemini Nano, our on-device model, on Pixel 8 Pro in December 2023.

    That’s what I want to know more about: “on-device processing.” Let’s break it down and start with what exactly “processing” means.

    The main processor, or system-on-a-chip (SoC), in your devices, has a number of what are called Processing Units designed specifically to handle the tasks you want to do with that device. That’s why you’ll see the chip (like the Tensor chip found in Pixels) referred to as a “system-on-a-chip: There’s not just one processor, but several processing units, memory, interfaces and much more, all together on one piece of silicon.

    Let’s use Pixel smartphones as an example: The processing units include a Central Processing Unit, or CPU, as the main “engine” of sorts; a Graphics Processing Unit, or GPU, which renders visuals; and now today we have a Tensor Processing Unit, or TPU, specially designed by Google to run AI/ML workloads on a device. These all work together to help your phone get things done — aka, processing.

    For example, when you take photos, you’re often using all elements of your phone’s processing power to good effect. The CPU will be busy running core tasks that control what the phone is doing, the GPU will be helping render what the lens is seeing and, on a premium Android device like a Pixel, there’s also a lot of work happening on the TPU to process what the optical lens sees to make your photos look awesome.

    Got it. “On-device” processing implies there’s off-device. Where is “off-device processing” happening, exactly?

    Off-device processing happens in the cloud. Your device connects to the internet and sends your request to servers elsewhere, which perform the task, and then send the output back to your phone. So if we wanted to take that process and make it happen on device, we’d take the large machine learning model that powered that task in the cloud and make it smaller and more efficient so it can run on your device’s operating system and hardware.

    What hardware makes that possible?

    New, more powerful chipsets. For example, with the Pixel 9 Pro, that’s happening thanks to our SoC called Tensor G4. Tensor G4 enables these phones to run models like Gemini Nano — it’s able to handle these high-performance computations.

    So basically, Tensor is designed specifically to run Google AI, which is also what powers a lot of Pixel’s new gen AI capabilities.

    Right! And the generative AI features are definitely part of it, but there are lots of other things on-device processing makes possible, too. Rendering video, playing games, HDR photo editing, language translation — most everything you do with your phone. These are all happening on your phone, not being sent up to a server for processing.

    TalkBack with Gemini, which analyzes images and reads descriptions out loud to blind or low-vision users, is an example of on-device processing that makes use of Tensor, Pixel’s system on a chip.

    The computation your phone can do today is pretty incredible. Today’s smartphones are thousands of times faster than early high-performance computers, even those that were the size of rooms. Back in the day, those high-performance computers were the state of the art in terms of data analysis, image processing, anomaly detection and early AI research. Now we can do this all on device, and it opens up all sorts of neat opportunities to build helpful features that use this processing capability.

    Is on-device processing better than off-device?

    Not necessarily. If you were to use Search entirely on-device, that would be really slow or really limited or both, because when you’re searching the web, you’re sort of looking for a needle in a haystack. To fit the entire web index on your phone would be too much! Instead, when you use Search, you’re tapping into the cloud and our data centers to access trillions of web pages to find what you’re looking for.

    But if you want to perform a more specific task, then on-device processing is really useful. For starters, there’s latency — if something’s being processed directly on the device, you may get the result faster. Then there’s also the fact that features that are fully on device work without an internet connection, meaning better availability and reliability.

    Finally, given the AI chip is in your pocket rather than being served through a cloud backend, it’s free for apps to leverage the LLM capabilities.

    All this said, there are distinct advantages to both: Cloud has more powerful models and can house lots of important data. Lots of your data, like photos, videos and more, sits in the cloud today. It also helps support actions like searching massive databases, like Drive, Gmail and Google Photos.

    I’m already pretty impressed with what my Pixel can do today, but from what you’re saying, I’d imagine it’s only going to get better.

    Yes, the models we’re using to do these complex tasks on Android devices are getting more capable. And of course it’s not just about better models and better technology: We also put a lot of work and research into thinking about what’s actually going to benefit people. We don’t want to just introduce products because the on-device processing can handle it; we want to make sure it’s something that people want to use on their phones in their everyday lives.

    MIL OSI Global Banks