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Category: MIL-Submissions

  • MIL-OSI Submissions: Asia Pacific – UN forum calls for enhanced role of cities in national climate action, localizing the SDGs

    Source: United Nations ESCAP

    The urban population in Asia and the Pacific is expected to increase by one billion more residents in cities and towns by 2050, bringing greater development pressures such as housing and infrastructure gaps as well as a concentration of many environmental and sustainability challenges, a United Nations forum said this week. But cities are also at the forefront of innovation for sustainability, leading the way in adopting new technologies and sharing knowledge across borders.

    “Given the profound and double-sided influence of cities, localizing global and national goals presents a significant opportunity to accelerate progress toward the Sustainable Development Goals,” said United Nations Under-Secretary-General and Executive Secretary of Economic and Social Commission for Asia and the Pacific (ESCAP) Armida Salsiah Alisjahbana.

    She added, “By translating the goals into relevant priorities within local contexts, we can harness the innovative capacities of cities and mobilize a broad range of stakeholders to confront the pressing environmental and development issues.”

    The eighth session of the Committee on Environment and Development brought together high-level government officials, urban leaders, top experts and other stakeholders to exchange views on strengthening multilateral cooperation on environment and development challenges facing the region, including through actions taken by cities.

    Discussions over the last three days focused on the challenges, opportunities and priorities for localizing action in five priority areas – air pollution; low-carbon transition and low-greenhouse-gas emission development strategies; ocean protection; sustainable urban development; and access to information concerning the environment and public participation in decision-making processes.

    “The five priority areas on the agenda are issues that demand coordinated, localized and inclusive solutions,” underscored Bernadia Tjandradewi, Secretary General, United Cities and Local Governments in the Asia-Pacific Region (UCLG-ASPAC). She further emphasized the importance of building the capacity, skills and resources of local governments to drive sustainable urban development and climate actions.

    Angelica Añabeza, Senior Associate, Wadhani Foundation Philippines, and Prajesh Khanal, Sustainability & Child Rights Activist presented a joint statement on behalf of youth representatives, urging for “meaningful and transparent partnerships with young people of all backgrounds to rebuild the trust that has been lost towards decision makers while also creating a collective vision.”

    “Local solutions are essential if we are to ensure the region’s growth can positively address these issues. While the challenges being faced in our region may vary by country and local context, we know that effective regional cooperation can support the exchange of solutions and best practices that can be tailored to local conditions,” said Norliza Hashim, Chief Executive Officer of Urbanice Malaysia, who was elected as Chair of the Committee.

    During the Committee, ESCAP also launched the Asia-Pacific SDG Localization Platform, which will support national and local authorities to share and learn best practices on how localized approach leads to effective solutions that improves the quality of life for residents across the region.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Africa – Shelter Afrique Development Bank (ShafDB) Wins Pan-African Development Bank Leadership Award

    Source: Media Fast

    · The award is in recognition of the institution’s leadership and commitment to advancing sustainable development in the continent’s housing and urban development sectors.

    Zanzibar, Tanzania: 18 October 2024 – Shelter Afrique Development Bank (ShafDB), a leading Pan-African multilateral development bank, dedicated to financing and promoting housing, urban & related infrastructure development across the African continent, has been honored with the prestigious “Pan-African Development Bank Leadership Award – A Pioneer in Housing Finance” for its outstanding contributions to the development of the continent.

    The award, presented during the 40th Anniversary Gala of the African Union for Housing Finance (AUHF) and the International Secondary Mortgage Market Association (ISSMA), recognized Shelter Afrique Development Bank for its pioneering leadership and unwavering commitment to advancing sustainable development in Africa’s housing sector. This prestigious honor was conferred by Ambassador Sharon Trail, founder of the AUHF 42 years ago, who was also honored with a lifetime achievement award at the same event.

    Receiving the award, Shelter Afrique Development Bank Managing Director, Thierno-Habib Hann expressed gratitude for the recognition, stating, “This honor is a testament to our mission of transforming Africa’s housing and urban landscape. We are proud of the work we’ve done in collaboration with governments, development financial institutions (DFIs), private developers, and financial institutions across Africa to provide affordable housing solutions.”

    The award highlights the transformative changes taking place at ShafDB, driven by its visionary leadership and the ‘New Dawn’ strategy now coming to light.

    Last month, ShafDB was designated as the anchor resource mobilization partner at the African Union’s Inaugural Africa Urban Forum in its Addis Ababa Declaration, further solidifying the Bank’s central role in shaping Africa’s urban development and housing landscape.

    Shaping the housing agenda

    Over the past four decades, ShafDB has spearheaded various affordable housing projects in over 40 African countries, playing a crucial role in shaping the housing agenda by providing long-term financing solutions, promoting green building initiatives, and supporting the construction of inclusive communities.

    Going forward, the institution aims to build on its success by leveraging its expertise and resources to address Africa’s housing and urban challenges, focusing on scalable, sustainable, inclusive, and impactful solutions.

    “We dedicate this award to our shareholders, partners, clients, and the communities we serve. It is through these collaborations that we will continue to make a lasting impact on Africa’s development. My thanks go to our esteemed Board Members who have shown relentless support to our transformation, and to our bold staff at Shelter Afrique Development Bank. They are the reason for our success. For it is only through teamwork, passion, and dedication that we can elevate ShafDB to fulfill its mission for Africa,” Mr. Hann concluded.

    Note:

    About Shelter Afrique Development Bank:

    Shelter Afrique Development Bank (ShafDB) is the Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: the African Development Bank (AfDB) and the African Reinsurance Corporation (Africa-Re).

    The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG).

    About African Union Housing Finance (AUHF)

    Since its formation in 1984, the AUHF has evolved into a member-based, industry association of mortgage banks, building societies, housing corporations, Development Finance Institutions and other organisations involved in the mobilisation of funds for shelter and housing on the African continent. As an industry body, the AUHF promotes the development of effective housing markets and the delivery of affordable housing across Africa, working in the interests of the members and the industry as a whole. The AUHF is governed by a board of industry leaders elected every two years at its Annual General Body. The Centre for Affordable Housing Finance in Africa (CAHF), based in South Africa, acts as the Secretariat of the AUHF.

    International Secondary Mortgage Market Association (ISSMA)

    International Secondary Mortgage Market Association (ISMMA) is the first global association to bring together secondary mortgage markets institutions to focus on advocacy on regulatory issues, share information, and provide support to newly established institutions in this space.

    The association provides a platform for member countries to exchange ideas on how to improve access to housing finance for their citizens and ultimately reach the goal of adequate, safe and affordable housing for all. The UN estimates that the global population will reach 8.5 billion by 2030, with almost 60% of the population living in urban centers. An estimated 3 billion people will need new housing and basic urban infrastructure by 2030. Against the backdrop of rapid urbanization putting pressure on housing delivery systems, many urban poor will not be able to afford formal housing without proper housing finance solutions. This puts the issue of housing finance at the forefront of the global development agenda, and the ISMMA will serve as an important platform to envision and design solutions to enhance access to housing finance.

    The ISMMA Secretariat has moved from the World Bank to the European Mortgage Federation – European Covered Bond Council (EMF-ECBC) as of July 1, 2022.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: WHO – Despite health gains, urgent action needed to meet health-related Sustainable Development Goals in the Western Pacific Region

    SOURCE: World Health Organization (WHO)

    Manila, Philippines, 17 October 2024 – According to a new report released today, countries in the World Health Organization (WHO) Western Pacific Region experienced the smallest decline in life expectancy during the COVID-19 pandemic compared to other WHO regions. Life expectancy in the Western Pacific fell by only 0.07 years during 2020-21, a minimal drop compared to the global average decline of 1.7 years. The Western Pacific now has the highest life expectancy among WHO’s six regions, rising from 72.0 years in 2000 to 77.4 years in 2021.

    However, despite this progress, the Region – comprising 37 countries and areas across Asia and the Pacific – is still grappling with critical challenges and is off-track in achieving the health-related Sustainable Development Goals (SDGs). The SDGs are the global goals adopted by world leaders to end poverty and inequality, protect the planet and ensure that all people enjoy health, justice and prosperity by 2030. The new WHO report, Health statistics in the Western Pacific Region 2023: Monitoring health for the SDGs, highlights advancements made across the Region while also emphasizing the urgent need for action. The report shows that while the COVID-19 pandemic may have done less damage to life expectancy in the Western Pacific than other regions, it nevertheless exacerbated health inequalities and disrupted progress in other areas.

    Noncommunicable diseases on the rise

    While infectious diseases and injuries were previously major causes of illness and death in the Western Pacific, the Region is undergoing a significant epidemiological shift. Noncommunicable diseases (NCDs) like heart disease, stroke, diabetes and cancer now account for nearly nine in 10 deaths. While the probability of premature death from NCDs has declined in the Region by over 25% since 2000, major challenges remain. Moreover, the Region is experiencing rapid population ageing. There are now more than 245 million people aged 65 and older in the Region – a number that is projected to double by 2050. And many older people are living with NCDs.

    A major risk factor for NCDs is alcohol and tobacco use. Consumption of alcohol in the Region has risen by 40% since 2000. Despite a decline from 7.2 litres per capita per year in 2015 to 6.1 litres in 2019, the overall increase highlights an ongoing concern for public health. Similarly, although tobacco use declined from 28.0% of adults smoking in 2000 to 22.5% in 2022, this was still above the global average of 20.9%.

    Mental health issues are also taking their toll on the population, with alarmingly high suicide rates in some countries of the Western Pacific Region, influenced by factors such as stigma, limited access to mental health services and socioeconomic challenges.

    Climate- and environment-related health concerns are yet another major challenge. While air pollution in urban areas of the Region was found to have decreased from 2010 to 2019, air quality levels are still much worse than the WHO-recommended levels. Populations living in urban areas are therefore continuing to breathe unhealthy air.

    Mixed progress towards universal health coverage

    Universal health coverage (UHC) is another important SDG target for which the Western Pacific Region has had mixed progress. The UHC service coverage index measures access to essential health services such as reproductive, maternal, newborn and child care, and prevention and treatment services for both NCDs and infectious diseases. Over the past 20 years, the overall UHC service coverage index in the Western Pacific increased impressively, from 49 to 79 points out of 100 between 2000 and 2021. However, people’s ability to access health-care services varies greatly across the Region. In some countries, the UHC service coverage index score is as low as 30, meaning many people struggle to access basic health care, while in others, it exceeds 80, indicating a much higher level of service availability and coverage. Despite these advancements, progress has slowed and stagnated since the adoption of the SDGs in 2015, and particularly since 2019.

    Despite the growing burden of noncommunicable diseases, access to essential health services for NCDs did not improve significantly, increasing only slightly from 52 points in 2000 to 58 points in 2010. Even more troubling, there has been no further progress since 2010, and access to services remains low, particularly in Pacific island countries and areas.

    In contrast, access to services for infectious diseases improved significantly, rising from just 18 points in 2000 to 82 points in 2021. Immunization coverage for the WHO-recommended three doses against diphtheria, tetanus and pertussis, or DTP3, showed mixed results from 2000 to 2023: coverage increased in 15 countries, while four countries experienced no change and eight saw a decrease.

    In the Western Pacific Region, average health spending has increased substantially, tripling from around US$ 383 per person in 2000 to US$ 1336 in 2021. On average, health spending accounted for 6.6% of gross domestic product (GDP) at country level in 2000, and rose to 8.2% by 2021. However, despite efforts to increase public spending for health, the proportion of people in the Western Pacific experiencing catastrophic health expenditure − defined as spending more than 10% of their income on health-care − has nevertheless doubled, rising from 9.9% in 2000 to 19.8% in 2019.

    Critical action needed to achieve SDGs

    “While we celebrate the significant health gains that the Western Pacific Region has achieved, we must also acknowledge urgent challenges in sustaining progress,” said Dr Saia Ma’u Piukala, WHO Regional Director for the Western Pacific. “We are living longer than ever, and more than any other region of the world, but this isn’t enough. We’re off-track to meet many of the SDG targets, and the COVID-19 pandemic exacerbated health disparities. Now is the time for concerted action to address these issues. We look forward to working with health leaders from across the Region next week to finalize our new vision to weave health for families, communities and societies.”

    New vision for health in the Region

    Ministers of health and other senior officials are preparing for discussions at the seventy-fifth session of the WHO Regional Committee for the Western Pacific in Manila on 21−25 October 2024. The meeting will focus on the most pressing health needs in the Region and chart a course to address them.

    Weaving health for families, communities and societies in the Western Pacific Region (2025-2029): Working together to improve health, well-being and save lives is the proposed new vision for the Region. The vision centres on the analogy of weaving a mat – a traditional activity across Asia and the Pacific – symbolizing the collaborative efforts required by WHO, governments and partners to improve population health and well-being. The vision centres on five vertical strands of action led by governments interwoven with three horizontal strands of action by WHO.

    The five vertical strands of action led by governments, working with WHO and other stakeholders include:

    Transformative primary health care for UHC
    Climate-resilient health systems
    Resilient communities, societies and systems for health security
    Healthier people throughout the life course
    Technology and innovation for future health equity.

    The three horizontal strands of action by WHO are:

    Country offices equipped with skills for scaling up and innovation
    Nimble support teams in the Regional Office
    Effective communication for public health.

    These strands reflect the reality that the Western Pacific Region faces complex health challenges that cannot be addressed by the health sector alone. Achieving the goals of SDG 3 − Good health and well-being – will require a concerted effort from multiple sectors. Social determinants of health, including education, housing, employment, social protection, gender equality and the environment, significantly impact health outcomes. Therefore, collaboration between the health, education, urban planning, agriculture and environmental sectors, to name but a few, is crucial. Collaboration can create synergies and co-benefits for all these sectors while accelerating progress towards achieving SDG 3.

    “The commitment of governments, WHO and partners to achieving the Sustainable Development Goals by 2030 is a commitment to health and well-being for all,” added Dr Piukala. “We must work together to ensure that no one is left behind as we weave a healthier future.”

    In addition to the vision, the Regional Committee will also consider new regional action frameworks on digital health and on health financing to achieve UHC and sustainable development. There will be panel discussions on climate-resilient health-care facilities, transformative primary health care and oral health, as well as a special event on the Investment Round to resource WHO’s work for 2025–2028.

    Notes:

    The seventy-fifth session of the Western Pacific Regional Committee will run from Monday, 21 October through Friday, 25 October, at the WHO Regional Office for the Western Pacific in Manila, Philippines. The Agenda and timetable are available online. A livestream of proceedings, all other official documents, as well as fact sheets and videos on the issues to be addressed can be accessed here. For real-time updates, follow @WHOWPRO on Facebook, X, Instagram and YouTube and the hashtag #RCM75.

    Working with 194 Member States across six regions, WHO is the United Nations specialized agency responsible for public health. Each WHO region has its regional committee – a governing body composed of ministers of health and senior officials from Member States. Each regional committee meets annually to agree on health actions and to chart priorities for WHO’s work.

    The WHO Western Pacific Region is home to more than 1.9 billion people across 37 countries and areas: American Samoa (United States of America), Australia, Brunei Darussalam, Cambodia, China, Cook Islands, Fiji, French Polynesia (France), Guam (United States of America), Hong Kong SAR (China), Japan, Kiribati, the Lao People’s Democratic Republic, Macao SAR (China), Malaysia, the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Caledonia (France), New Zealand, Niue, the Commonwealth of the Northern Mariana Islands (United States of America), Palau, Papua New Guinea, the Philippines, Pitcairn Islands (United Kingdom of Great Britain and Northern Ireland), the Republic of Korea, Samoa, Singapore, Solomon Islands, Tokelau, Tonga, Tuvalu, Vanuatu and Viet Nam, Wallis and Futuna (France).

    Related links:

    Health statistics in the Western Pacific Region 2023: Monitoring health for the SDGs
    Draft vision Weaving health for families, communities and societies in the Western Pacific Region (2025−2029): Working together to improve health and well-being and save lives
    WHO data on progress towards universal health coverage (UHC)
    Other WHO data which can be searched by country.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Energy – Equinor’s third quarter 2024 safety results

    Source: Equinor

    Equinor’s overall long-term safety trend continues to move in a positive direction, but the total number of injuries has increased somewhat by the end of the third quarter, measured over the previous twelve months.

    At the end of the third quarter of 2024 the serious incident frequency per million hours worked (SIF) was 0.3, on par with the level in the second quarter. Serious injuries are also included in the serious incident statistics.

    Seven oil and gas leaks have been registered over the last 12 months. These leaks are classified according to the degree of severity in relation to the discharge rate.

    “We’re still headed in the right direction as regards major accident potential, hydrocarbon leaks and serious incidents. We’re seeing a low incident frequency and it’s important to ensure that we’re also learning from what’s going well,” says Jannicke Nilsson, Equinor’s executive vice president for safety, security and sustainability.

    The total recordable injury frequency per million hours worked (TRIF) as of the third quarter is 2.4 for the last 12 months, up from 2.2 at the end of the second quarter.

    “Our employees and suppliers are working well together to bolster safety, but we have not achieved the desired improvement for the injury trend. This is a challenge that we must solve together,” says Nilsson.

    Through the “Always Safe” annual wheel, Equinor is working with other operating companies and suppliers to enhance the understanding of which factors can get in the way of safe work performance. The focus in the “Always Safe” learning package for the fourth quarter is on health and working environment.

    “The trend shows that an increasing number of users are accessing the “Always Safe” packages. This is positive and shows an interest in sharing lessons learned and focusing on shared safety topics across our industry,” Nilsson says.

    Equinor is continuing its work to prevent major accidents through extra efforts within management training and e-learning courses that are also available to the company’s suppliers.

    There have been no incidents with major accident potential or serious well control incidents in the third quarter.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: IKEA Foundation supports MSF in scale-up for underreported Sudan crisis

    Source: Médecins Sans Frontières

    Geneva, 17 October, 2024: The war in Sudan, now 550 days in, has triggered one of the most devastating humanitarian crises in decades. 

    According to the UN, one in five people has been displaced, and half of the country’s people face acute food insecurity. Médecins Sans Frontières/Doctors Without Borders (MSF), with over 1,000 staff running 15 hospitals, 9 health centres, and mobile clinics in Sudan, is scaling up the response thanks to €35 million from the IKEA Foundation. 

    Despite these efforts, the needs of people remain overwhelming and a collective increase in aid is urgently required.

    “This life-changing gift will allow us to respond to the medical needs, providing access to free health care services, and giving displaced people the opportunity to be treated and live a healthy life,” says Alaa Ahmed, an MSF nurse working in Sudan.

    “The Sudan war is  a massive, underreported emergency”, says Stephen Cornish, Director General of MSF’s Operational Centre in Geneva. “We are grateful to the IKEA Foundation and other donors who have stepped up for the people of Sudan. We are determined to deliver more lifesaving treatment for those in need.”

    In response to this escalating crisis, the IKEA Foundation—a long-standing partner of MSF, as part of the Foundation’s focus on underreported emergencies—has committed €35 million to help MSF scale up efforts.

    “This is now one of the largest humanitarian crises in the world,” says Jessica Anderen, CEO of the IKEA Foundation. “We are humbled by the work MSF is doing to support the Sudanese people and encourage other funders to join us in supporting their efforts.”

    “This devastating situation is not getting the attention or funding it deserves. More needs to be done to provide critical support for those impacted,” says Hayley Kornblum, Programme Manager at the IKEA Foundation. “We are so encouraged to see other private sector organisations, like Mastercard Foundation, taking strong action through donations to UNHCR, but much more is required from both government and the private sector.”

    The war in Sudan has displaced over 10 million people within the country and driven nearly three million more to seek refuge in neighbouring countries, such as Chad and South Sudan. Over half of Sudan’s population—around 25.6 million people—are now facing critical levels of food insecurity, according to the UN.

    MSF is scaling up relief and lifesaving activities, focusing on treating severely malnourished children, and addressing the needs of displaced people and refugees. In addition, MSF is providing water and sanitation services, and ensuring the delivery of essential aid in refugee camps, like Adré transit camp in Chad, where MSF teams provide over one million litres of water per day.

    MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. In 2022, more than 120 project staff from Australia and New Zealand worked with MSF on assignment overseas. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au  

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Business – deVere Group secures Family Office Licence, marking new era in elite wealth management

    Source: deVere Group

    October 17 2024 – deVere Group, one of the world’s largest independent financial organizations, proudly announces that it has been awarded the highly sought-after Family Office Licence by the Financial Services Commission (FSC) of Mauritius.

    A family office handles investment and wealth management and legal matters for a wealthy family, generally one with more than $75 million in investable assets, with the objective being to effectively grow and transfer wealth across generations.

    This milestone achievement solidifies deVere’s position as the global leader in comprehensive wealth management services, adding to its already impressive suite of offerings including financial advisory, asset management, private banking, foreign exchange, and tax consultancy services, among many others.

    The newly secured Family Office Licence allows deVere to cater to the most complex financial needs of ultra-high-net-worth individuals (UHNWIs) and families, setting it apart from competitors.

    With this licence, deVere is now able to provide bespoke Family Office services, supporting families in preserving and growing their wealth across generations, through a dedicated and structured approach.

    “We are incredibly proud to have been granted the Family Office Licence – one of the very few global financial firms to have achieved this,” comments Nigel Green, CEO of deVere Group.

    “This new licence allows us to offer an unparalleled proposition for our elite clients, giving them access to an exclusive suite of wealth preservation, investment management, and intergenerational planning services.”

    He continues: “Family is at the heart of deVere’s story.

    “We understand that family governance, succession planning, and the broader social and environmental responsibilities of families are not just business concerns, they are personal.

    “Our Family Office service is designed to be an extension of that legacy, allowing families to preserve their wealth while creating a meaningful impact for generations to come.”

    With deVere’s Family Office, clients will benefit from tailored governance strategies, consolidated oversight of family investments, and the ability to establish clear communication and education platforms to ensure family values are transferred across generations.

    deVere’s extensive network of experts and advisors will support families in creating a comprehensive roadmap for their financial future, enabling them to cut through complexity and focus on their long-term objectives.

    This new licence builds on deVere’s renowned expertise and extensive resource base, cementing its commitment to staying ahead of the curve in financial innovation.

    “The Family Office offering includes access to world-class partners through deVere’s network of dedicated providers and the opportunity for clients to exchange thought leadership with peer families and industry leaders,” affirms the deVere Group CEO.

    “This licence is more than just another feather in our cap; it’s a testament to the quality and dedication of our team. It demonstrates our commitment to providing the most comprehensive and forward-thinking solutions in wealth management in the world today.”

    As deVere expands its reach and deepens its service offerings, this new capability will provide clients with an extra level of expertise and attention to their financial and personal needs.

    Whether families are looking to set their values in motion, contribute to sustainable communities, or navigate the complexities of family governance, deVere’s Family Office service is designed to provide the necessary guidance.

    With this new addition, deVere’s clients now have access to a complete suite of financial solutions, all under one roof. This comprehensive approach, paired with the firm’s unwavering commitment to excellence, positions deVere as a global reference point for family wealth management.

    Nigel Green concludes: “We are incredibly excited about what this means for our clients and the future of deVere Group.

    “This licence enables us to offer a more personalized and holistic approach to wealth management and legal affairs, ensuring our clients’ legacies are secured and thrive for generations to come.”

    deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $12bn under advisement.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Economy – GlobalData upgrades India’s growth forecast, citing strong domestic consumption and investor confidence

    Source: GlobalData

    India’s economy is thriving, bolstered by strong domestic demand, rural consumption, and a growing working-age population. Infrastructure investments are enhancing productivity in the manufacturing and services sectors, fostering high investor confidence. 

    Against this backdrop, GlobalData, a leading data and analytics company, has revised India’s economic growth forecast for 2024 and 2025 by 0.3 percentage points (pp) and 0.2pp in its Q4 2024 update compared to the previous projections made in Q3 2024.

    GlobalData’s latest report, “Macroeconomic Outlook Report: India,” reveals that India’s GDP increased by 7.6% in 2023 and is projected to grow by 7.0% in 2024 and 6.6% in 2025. Inflation is expected to decrease to 4.4% in 2024, down from 5.6% in the previous year.

    To combat inflation, the Reserve Bank of India (RBI) has kept the repo rate steady at 6.5% for the 10th consecutive meeting in October 2024, emphasizing its commitment to stabilizing prices and supporting economic growth amidst the changing economic conditions.

    Moreover, the rebound in India’s private consumption, indicated by a 7.4% rise in Private Final Consumption Expenditure (PFCE) for Q2 2024, suggests increased economic resilience and a potential boost in rural spending. This recovery, fueled by lower inflation and improved agricultural performance, may enhance the overall GDP growth, supporting investor confidence.

    Gayatri Ganpule, Economic Research Analyst at GlobalData, comments, “Despite the geopolitical uncertainties, India’s economy shows resilience. Although inflation increased in September 2024, the projected annual rate of 4.4% is lower than the last year’s 5.6%. This expected lower price level, along with the festive season, is expected to boost consumption in Q4 2024. However, rising oil prices are a major concern, as India relies on imports for about 88% of its oil needs, risking imported inflation.”

    In terms of sectors, financial intermediation, real estate, and business activities contributed 22.7% to the gross value added (GVA) in 2023, followed by mining, manufacturing, and utilities (18.7%) and agriculture (17.7%). In nominal terms, the three sectors are forecast to grow by 11.9%, 9.5%, and 9.7%, respectively, in 2024 as compared to the 9.9%, 8.1%, and 5.4% growth recorded in 2023.

    India’s 2024-25 budget prioritizes job creation and enhancing the business environment through strategic tax reforms to attract foreign investment. The proposed measures include a review of the Income-tax Act, an amnesty scheme for tax disputes, and incentives for job creation. Simplifying foreign direct investment frameworks and adjusting capital gains taxes are expected to stimulate economic growth. These initiatives aim to resolve tax disputes and foster a more favorable investment climate.

    India’s net foreign direct investment (FDI) increased to $6.9 billion in Q2 2024, up from $4.7 billion during the same period last year, as per the RBI data. This growth was driven by a 26.4% rise in gross inward FDI, totaling $22.5 billion. Sectors such as manufacturing, financial services, and energy contributed to 80% of these inflows, primarily from countries like Singapore and the US. During a recent roundtable meeting on 14 October 2024, Indian Prime Minister Narendra Modi engaged with business leaders from Singapore, leading to a commitment of approximately $60 billion in investments across various sectors in India.

    On the external front, India aims to achieve $2 trillion in exports by 2030 under its new Foreign Trade Policy. The country recorded a current account surplus of $5.7 billion in Q1 2024, driven by service exports and remittances. As of 10 March 2024, India signed 14 free trade agreements (FTAs), including one with the European Free Trade Association (EFTA), to improve exports and market access, seeking preferential ties with 94 countries. The ongoing negotiations could extend these agreements to over 120 countries, strengthening India’s global trade relationships.

    India is categorized as a medium-risk nation and ranked 75th out of 153 nations in the GlobalData Country Risk Index (GCRI Q2 2024). The country’s risk score was lower in terms of political, legal, and technology and infrastructure risk parameters when compared with the average score of the world.

    Ganpule concludes, “India’s economy demonstrates resilience, supported by robust domestic demand and government reforms aimed at enhancing investment. However, challenges such as increasing oil prices and high youth unemployment remain pressing issues. Continued efforts to expand trade and attract foreign investment are key to sustaining growth.”

    Notes

    The information is based on GlobalData’s latest report, “Macroeconomic Outlook Report: India” (ref. https://www.globaldata.com/store/report/india-pestle-macroeconomic-analysis/?utm_source=cision&utm_medium=press%20release&utm_campaign=gd_press%20release_cision_economic%20research_india_pestle%20report )

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis, and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology, and professional services sectors.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Global Bodies – Dr. Haroun Kabadi of Chad wins the MP of the year award – IPU

    Source: Inter-Parliamentary Union (IPU)

    16 October 2024, Geneva, Switzerland – The 2024 Cremer-Passy Prize, the MP of the year award, has been awarded to Dr. Haroun Kabadi, former President of the National Assembly of Chad (2011 to 2021) in recognition of his exceptional work in promoting peace and security.

    Currently, Dr. Kabadi heads Chad’s National Transitional Council, which is playing the role of legislative body as the country returns to constitutional order following the death of the President in 2021.

    Born in 1949, Dr. Kabadi holds a doctorate in agronomy and a master’s degree in rice genetics.

    His extensive political career includes serving as a Minister, Special Advisor to the President, Secretary-General of the Presidency and Prime Minister.

    During his tenure as President of the National Assembly, Dr. Kabadi worked tirelessly to strengthen peace, security and socio-political stability in Chad, the Sahel region, Central Africa and internationally.

    He contributed to the adoption of several legal instruments promoting peace and security within regional and sub-regional parliamentary organizations.

    As President of the G5 Sahel Interparliamentary Committee, he mobilized efforts against terrorism and advocated for dialogue and socio-economic development.

    In July 2022, Dr. Kabadi organized an international meeting on the role of parliaments in security and peace. He also met with members of the European Parliament to discuss the situation in the Sahel and seek their support for peace and security in the region.

    Background

    The Prize is named after the IPU’s two founders, parliamentarians Frédéric Passy and Sir William Randal Cremer, who created the IPU in 1889.

    The Cremer-Passy Prize is open to any sitting parliamentarians who make an outstanding contribution to the defence and promotion of the IPU’s objectives, as well as those “who contribute to a more united, peaceful, sustainable and equitable world”.

    Previous winners include Ms. Cynthia López Castro of Mexico and the Verkhovna Rada of Ukraine (2022), and Mr. Samuelu Penitala Teo of Tuvalu (2023).

    Nominations for the prize are made by the IPU’s six geopolitical groups. https://www.ipu.org/about-ipu/members/geopolitical-groups

    The IPU is the global organization of national parliaments. It was founded more than 130 years ago as the first multilateral political organization in the world, encouraging cooperation and dialogue between all nations. Today, the IPU comprises 181 national Member Parliaments and 15 regional parliamentary bodies. It promotes democracy and helps parliaments develop into stronger, younger, greener, more gender-balanced and more innovative institutions. It also defends the human rights of parliamentarians through a dedicated committee made up of MPs from around the world.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Tech – Lenovo’s Hybrid AI Advantage with NVIDIA Accelerates Smarter Decision Making and Enhances Operations Processes for Improved Business Outcomes

    Source: Lenovo
     
    At Lenovo Tech World, Companies Expand Collaboration to Deliver Full-Stack Hybrid AI Capabilities and Customized Generative AI Agents Leveraging Enterprise Data to Unlock Intelligence Across Platforms

    SEATTLE – Lenovo Chairman and CEO Yuanqing Yang, in his keynote presentation with NVIDIA founder and CEO Jensen Huang, unveiled Lenovo Hybrid AI Advantage with NVIDIA at this year’s Lenovo Tech World—Lenovo’s annual global technology innovation event. Enabled by Lenovo’s full-stack capabilities and Lenovo AI Library, together with NVIDIA AI software, accelerated computing, and networking, Lenovo Hybrid AI Advantage with NVIDIA empowers organizations to turn data and intelligence into business outcomes faster and more efficiently, accelerating AI adoption and delivering greater return on investment (ROI).

    Lenovo Hybrid AI Advantage with NVIDIA debuts at a time when businesses are increasingly focused on proven solutions to drive innovation and address unique business challenges. A recent Lenovo survey found that 61% of CIOs find it very challenging to demonstrate ROI from their AI investments. Lenovo Hybrid AI Advantage with NVIDIA enables customers to benefit from pre-validated and industrialized solutions for accelerated deployment.

    “Delivering Hybrid AI requires leveraging a purpose-built portfolio and AI services expertise that simplifies the path to AI and enables real-world applications for businesses. Our collaboration with NVIDIA brings together the best of both companies to ensure rapid and reliable AI outcomes for businesses across industries. Lenovo Hybrid AI Advantage with NVIDIA helps customers achieve outcomes faster by enabling their people to access relevant intelligence across personal, enterprise and public AI platforms,” said Yang.

    “AI is reinventing computing and accelerating businesses and industries globally,” said Huang. “Lenovo and NVIDIA’s collaboration is revolutionizing enterprise computing, helping transform companies into platforms of AI agents and digital intelligence that drive incredible speed, innovation, and productivity.”

    Lenovo Hybrid AI Advantage with NVIDIA combines full-stack AI capabilities optimized for factory-like industrialization and reliability with a library of ready-to-customize AI use-case solutions that help customers break through the barriers to ROI from AI. The two companies have partnered closely to integrate NVIDIA accelerated computing, networking, software, and AI models into the modular Lenovo Hybrid AI Advantage with NVIDIA solution framework for optimized performance. On the Tech World keynote stage, Lenovo and NVIDIA announced solutions designed to help customers maximize speed, innovation, productivity, and energy efficiency:

    Lenovo AI Fast Start: Accelerated Deployment

    Lenovo AI Fast Start helps organizations prove the business value of use cases on Personal AI, Enterprise AI, and Public AI platforms within weeks. Leveraging the NVIDIA AI Enterprise software platform, which includes NVIDIA NIM microservices and NVIDIA NeMo for building AI agents, Lenovo AI Fast Start gives customers access to AI assets, experts, and partners that help organizations rapidly build generative AI use case solutions with their own data and tailor them to meet the unique needs of their businesses, maximizing relevance in real-world environments and speeding progress to deployment at scale.

    Lenovo AI Library

    The Lenovo AI Library brings Hybrid AI to life with proven AI use case accelerators, including domain-specific language models and functional and vertical agents. Spanning key use cases across multiple domains, including marketing, IT operations, legal, product development, and customer service, the pre-validated solutions in the Lenovo AI Library help customers speed deployment to accelerate outcomes from AI. Lenovo and NVIDIA are building ready-to-customize functional and vertical AI solution accelerators on the NVIDIA AI Enterprise and, in the future, NVIDIA Omniverse platforms for the Lenovo AI Library. Together with a curated ecosystem of AI Innovators and partners, Lenovo AI Services will also customize and integrate the recently announced NVIDIA NIM Agent Blueprints, also part of the NVIDIA AI Enterprise software platform.

    Data and Technology Foundations for AI

    Many organizations are carrying a technology debt and need help to modernize their platforms to realize value from AI. The Lenovo Data and Tech Foundations for AI service helps customers assess the readiness of their platforms, then take pragmatic and cost-effective actions to modernize their data, apps, and cloud technologies with proven accelerators, tools, and methodologies. Across the full stack, Lenovo will leverage NVIDIA accelerated computing, networking, software, and AI models to enable customers to drive maximum value from their data and technology investments.

    AI-Ready Infrastructure and Lenovo Neptune Liquid Cooling

    As AI demands surge, enterprise computing must evolve to meet the need for processing more data everywhere while addressing increasing power demands. Since first announcing Lenovo’s hybrid AI approach with NVIDIA in October 2023, the Lenovo portfolio has expanded to include 80+ higher performance, energy-efficient platforms1. With more than a decade of leadership in liquid-cooling innovation, the sixth generation of Lenovo Neptune delivers supercomputing to organizations of all sizes with water cooling that efficiently powers the NVIDIA Blackwell platform and AI at scale. Lenovo Hybrid AI Advantage with NVIDIA ensures greater energy efficiency2 with a portfolio of powerful AI-ready infrastructure, workstations, PCs, and management software.

    Lenovo Hybrid AI Advantage with NVIDIA represents a new era of AI deployment for businesses worldwide by effectively resolving a primary obstacle to AI ROI. Lenovo Hybrid AI Advantage with NVIDIA gives organizations access to relevant intelligence from Hybrid AI platforms so they can make smarter decisions – optimizing processes, increasing productivity, improving efficiency, and maximizing innovation for growth. By simplifying the deployment process and unlocking intelligence with AI agents, Lenovo and NVIDIA help organizations achieve faster, more reliable AI outcomes that allow them to modernize and stay competitive in today’s fast-paced and evolving digital landscape.

    For more information about Lenovo’s Hybrid AI Advantage with NVIDIA, visit: https://www.lenovo.com/us/en/services/ai-services/

    1. Based on Lenovo data from internal Lenovo ISG research

    2. Based on Lenovo data

    LENOVO and NEPTUNE are trademarks of Lenovo. NVIDIA is a trademark of NVIDIA Corporation, Inc. All other trademarks are the property of their respective owners. ©2024 Lenovo Group Limited.

    About Lenovo

    Lenovo (HKSE: 992) (ADR: LNVGY) is a US$62 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, employing 77,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver smarter technology for all, Lenovo has built on its success as the world’s largest PC company by further expanding into growth areas that fuel the advancement of ‘New IT’ technologies (client, edge, cloud, network, and intelligence) including server, storage, mobile, software, solutions, and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and smarter future for everyone, everywhere. To find out more visit https://www.lenovo.com.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Annual inflation at 2.2 percent – Stats NZ media and information release: Consumers price index: September 2024 quarter

    Source: Statistics New Zealand

    Annual inflation at 2.2 percent – 16 October 2024 – New Zealand’s consumers price index increased 2.2 percent in the September 2024 quarter, compared with the September 2023 quarter, according to figures released by Stats NZ today.

    The 2.2 percent annual increase follows a 3.3 percent annual increase in the June 2024 quarter.

    “For the first time since March 2021, annual inflation is within the Reserve Bank of New Zealand’s target band of 1 to 3 percent. Prices are still rising, but not as much as previously recorded,” consumer prices manager Nicola Growden said.

    Higher rent prices was the biggest contributor to the annual inflation rate, up 4.5 percent. Almost a fifth of the 2.2 percent annual increase in the CPI was due to rent prices.

    Visit Statistics NZ’s website to read this news story and information release and to download CSV files:

    MIL OSI –

  • MIL-OSI Submissions: Australia – One week until Meet the Buyer: Facilitating business deals for WA’s food and beverage sector

    Source: ProntoPR.com.au

    There’s one week to go before the Buy West Eat Best trade show, ‘Meet the Buyer,’, which will be held at Crown on 22 October.

    Now in its fourth year, ‘Meet the Buyer’ is Western Australia’s largest and most diverse showcase of WA food and beverage businesses.

    Buy West Eat Best program manager Melissa Worthington said exhibitor space sold out in record time and there are delegate tickets still available.

    “The growth of ‘Meet the Buyer’ has been driven by the state’s agrifood business community and it’s always gratifying to hear the positive outcomes for suppliers and buyers,” Ms Worthington said.

    “It’s WA’s most important food and beverage trade show, and it’s the only event of its kind that brings together buyers, importers, chefs, sommeliers, media and educators under one roof for one day,” she said.

    Almost 70 percent of respondents to the 2023 ‘Meet the Buyer’ survey said their attendance had resulted in a positive commercial outcome, whether it was finding new stockists or simply gaining more knowledge about how to improve their chances of getting their products into the market or business to business connections.

    Chef Paul Lange, from Smokey Q rubs and sauces, connected with a Woolworths buyer at the inaugural ‘Meet the Buyer’ and went on to pursue opportunities with a Coles representative.

    “It’s really exciting for a smaller business to get that recognition from the larger players,” Mr Lange says.

    More than 80 percent of respondents said the trade show had enabled them to meet buyers or business contacts they had not met previously.

    Sweeter Banana Co-operative’s Doriana Mangili said Meet the Buyer has helped build relationships, opening up opportunities outside the event.

    “Over the years with one retailer we would just have a bit of a yarn and then this year we were invited to attend one of their trade shows. This wouldn’t have happened without us attending ‘Meet the Buyer’ each year and getting to know them,” Ms Mangili said.

    The inclusive atmosphere at ‘Meet the Buyer’ enables attendees to get to know one another in an informal setting, including at the sundowner event after the show. Many attendees have commented on the positive engagement with others and the joys of meeting new people and building their networks.

    For chefs like Blair Allen, from Amelia Park Restaurant in Wilyabrup in WA’s south west, ‘Meet the Buyer’ is also a great way to catch up with suppliers who he might only otherwise deal with over the phone or email.

    “Just putting faces to names was great – it just makes the whole ordering process easier,” Mr Allen said.

    ‘Meet the Buyer’ is also an ideas incubator, with so many people in the know at hand to offer suggestions and advice.

    Almost 40 percent of respondents to the 2023 survey said they had changed their business strategy, product range or packaging as a result of ‘Meet the Buyer’.

    One said they had introduced a couple of new lines, while another said they were customising products for WA companies.

    Chef Rob Nixon, from That Plant Café, said it’s great to see producers take suggestions on board.

    “It’s one of the best things I’ve ever been to,” Mr Nixon said.

    “As chefs, we’re so busy running our own restaurant that we would have a hard time going to see one or two small-batch producers, let alone 100 or so. Here, they are all under the one roof.”

    More than 92 percent of attendees said they would be returning to ‘Meet the Buyer’ in 2024.

    ‘Meet the Buyer’ will host more than 80 food and beverage exhibitors showcasing in excess of 550 products and is set to attract local, interstate and international visitors.

    For more information about Meet the Buyer, visit meetthebuyer.com.au.

    About Buy West Eat Best

    The Buy West Eat Best program is a voluntary food labelling and marketing initiative developed by the Western Australian Government to assist local food and beverage producers to promote their products to grocery shoppers and those that dine out.

    Buy West Eat Best works with members to support and promote the buy local message, highlight the importance of seasonality and champion delicious, fresh ranges of fruits and vegetables that grocery shoppers can seek out, particularly as new seasons commence.

    The program works across the supply chain, from producers, processors, retail, and foodservice businesses; providing a critical conduit to strengthen the resilience and sustainability of businesses and identify source of origin for consumers. There is a vast and diverse range of local businesses and brands that are members of the Buy West Eat Best community.

    When you see the distinctive Buy West Eat Best bite mark logo you can be assured that you are buying premium food that has been grown, farmed, fished, processed, prepared and served right here in WA.

    The program has matured, and it is vitally important to the State from an economic and employment perspective – the food and drink industry or agrifood sector is the second largest export sector to mining and resources and critical to the diversification and sustainability of local communities across the State.

    The Buy West Eat Best logo is a registered trademark owned by the Department of Primary Industries and Regional Development (DPIRD), administered by government and championed by business and industry.

    http://www.buywesteatbest.org.au

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Africa – ATIDI and MIGA Partner to Streamline Investments in Africa

    Source: MediaFast

    ·       Organizations sign second three-year agreement to scale and replicate successful partnership models

    ·       Agreement will set up mechanism to measure progress and results as well as joint marketing initiatives to strengthen cooperation and explore new investment opportunities

    Washington, DC, USA – 15 October, 2024 – The African Trade & Investment Development Insurance (ATIDI), and the Multilateral Investment Guarantee Agency (MIGA), part of World Bank Group Guarantees, have signed a three-year partnership to accelerate foreign direct investment across Africa. This is the second agreement between the two organizations aimed at maximising development impact.

    The organizations will collaborate by leveraging ATIDI’s expertise in insurance and guarantee products across the African continent and MIGA’s range of guarantee solutions and guarantee expertise through the World Bank Group guarantee platform. The partnership will also seek to improve efficiency in joint project due diligence, maximising cost savings and eliminating duplication.

     Quote from Manuel Moses, CEO, ATIDI

    “Enabling more investment to finance transformational projects is vital to Africa’s sustained development. MIGA and ATIDI’s de-risking solutions are essential to achieve this crucial agenda. Beyond signing of this agreement, we look forward to a dynamic collaboration with MIGA, to leverage our institutions’ respective assets for the benefit of our continent.”

    The agreement framework emphasizes mutual reliance, accountability, and comparability. Each party will regularly share operating standards and procedures to help identify comparable outcomes to further both organizations’ development mandates.

    Quote from Hiroshi Matano, MIGA Executive Vice President

    “Our partnership with ATIDI will enable us to support countries in Africa in scaling and replicating development projects, thereby accelerating prosperity. This agreement will play a significant role in helping the continent attract foreign investment for key development projects.”  

    Both organizations have agreed to set up mechanisms to measure progress and results, including reports on joint projects, new products, capital mobilized, and reduced project processing times. Moreover, both parties will carry out joint marketing efforts, training, and seminars to strengthen cooperation and explore new investment opportunities in Africa.

    The strategic agreement framework underscores the commitment of MIGA and ATIDI to create a world free of poverty on a livable planet. The two organizations aim to mitigate investment risks by pooling resources, thereby accelerating sustainable economic growth in Africa.

    About ATIDI

    ATIDI was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa. ATIDI predominantly provides Political Risk, Credit Insurance and Surety Insurance. Since inception, ATIDI has supported USD85 billion worth of investments and cross border trade into Africa. For over a decade, ATIDI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATIDI obtained an A3/Stable rating from Moody’s, which has now been upgraded to A2/Positive.

    For more on ATIDI, visit: http://www.atidi.africa

    Media registration link: https://www.atidi.africa/media-kit/

     About World Bank Group Guarantees  

    Initiated in 2024, World Bank Group Guarantees consolidates all guarantee products and experts from across the World Bank Group institutions at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the WBG’s annual guarantee issuance to USD20 billion by 2030.    

    For more information about the guarantee platform, visit: https://www.worldbank.org/wbgguarantees

    MIL OSI – Submitted News –

  • 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 Submissions: Australia – Footy finals not enough to boost September spending – CBA

    Source: Commonwealth Bank of Australia

    CommBank’s Household Spending Insights Index dipped in September, as consumers refrain from spending extra cash from income tax cuts.

    The monthly CommBank Household Spending Insights (HSI) Index declined 0.7 per cent in September to 146.7, despite increased recreation spending around the AFL and NRL Grand Finals.

    Six of the twelve spending categories saw a decline in the month, with Hospitality leading the drop (-2.8 per cent), followed by Transport (-2.5 per cent), Household Goods (-2.3 per cent), and Food & Beverage (-0.6 per cent).

    Recreation helped offset these declines, rising 1.5 per cent in September, largely driven by an 18 per cent surge in Ticketing Services as eager sports fans snapped up tickets to the AFL and NRL grand finals. Spending on Education and Insurance also rose, each up by 0.7 per cent. Utilities spending, unexpectedly up 1.3 per cent, reflected the impact of rising local council and strata management fees, even as electricity costs declined off the back of government rebates.

    There has been a notable decline in spending on Transport, impacted by the falling price of petrol, down approximately 15 per cent in the past 12 months. Transport was the only category to record declines both monthly (-2.5 per cent) and annually (-7.2 per cent).

    On an annual basis, there was a significant slowdown in the pace of spending growth in the year to September to just to 2.1 per cent, down from 3.7 per cent in August.

    Renters have witnessed the weakest spending in the year to September, down 1.1 per cent for the year, compared to though with a mortgage (+1.2 per cent) and those who own their home outright (+2.3 per cent).

    CBA Chief Economist Stephen Halmarick said HSI data suggested income tax cuts had not led to a material rise in consumer spending.

    “The spending slowdown in September was expected after an early Father’s Day led to consumers splashing out on household goods and hospitality for Dad. Although we saw a rise in Recreation spending associated with the AFL and NRL Grand Finals, consumer spending overall remains subdued, now growing at just over two per cent for the year.”

    “It’s important to note that the only other spending categories to rise in September were all essentials, indicating that increased take-home pay from tax cuts is largely being used to pay down debt and on staples, not spending on discretionary items. This trend is reflected in the year to September, supporting our view that softer economic data, coupled with a further deceleration in inflation will see the RBA cut interest rates in December 2024.”

    The CommBank HSI Index tracks month-on-month data at a macro level and is based on de-identified payments data from approximately 7 million CBA customers, comprising roughly 30 per cent of all Australian consumer transactions.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Economy – 3 reasons why gold could hit all-time highs in early 2025 – deVere Group

    Source: deVere Group


    October 14 2024 – Gold prices are on track to reach historic levels in the first quarter of 2025, predicts the CEO of one of the world’s largest independent financial advisory and asset management organizations.


    The bullish prediction from deVere Group’s Nigel Green is driven by a confluence of factors reshaping global markets. 


    He says: “As central banks continue aggressive buying, the US Federal Reserve cuts interest rates, and geopolitical tensions persist, the precious metal is primed for a bullish surge that could shatter previous records.”


    Central banks around the world are accelerating their gold purchases at a pace not seen in decades. This trend, which initially gained momentum following the start of the Russia-Ukraine war, has broadened, with many countries shifting away from US dollar-denominated assets. 


    “Gold buying has now surged to nearly three times the level it was before 2022, and the outlook suggests continued strong demand into 2025,” notes the deVere CEO.


    “This wave of buying is not just about portfolio diversification—it’s a strategic move to mitigate risks. Countries, especially those wary of US financial sanctions, are increasingly turning to gold to shield their reserves from political and economic pressures. 


    “China, for instance, has been a key player in this trend. In 2023, China’s central bank added to its gold holdings for 10 consecutive months, underscoring the nation’s intention to reduce its reliance on the dollar amidst growing geopolitical tensions with the West. 


    “This buying intensity continued well into 2024, with net purchases of 290 tonnes recorded in the first quarter of 2024 – the fourth strongest quarter of purchases since the buying streak began in 2022.”


    Similarly, Turkey, Singapore, Brazil and India have also ramped up their gold reserves, driven by their need to safeguard against currency volatility and potential sanctions.


    The US Federal Reserve’s shift from its aggressive interest rate hiking cycle toward rate cuts is another pivotal factor that will likely fuel a rally in gold. 


    “Higher interest rates make gold less attractive as it doesn’t generate yield. However, with rates poised to fall, the tables are turning. Lower rates can often reduce the appeal of yield-bearing assets, drawing some investors – both retail and institutional – back into the gold market.”


    In today’s fragile global landscape, gold’s role as a portfolio hedge remains as vital as ever. 


    The potential for geopolitical shocks—including escalating trade wars, sanctions, and heightened global tensions—continues to loom large. 


    “Gold offers unparalleled protection in such scenarios, especially as concerns grow around issues such as Fed independence, global debt sustainability, and financial sanctions,” affirms Nigel Green.


    “One scenario that could send gold prices soaring is an escalation in financial sanctions comparable to the surge seen since 2021. Another potential trigger could be worsening debt fears in the US.”


    He concludes, “Against this backdrop, and should the current momentum be maintained, we could see new all-time price highs for gold in the first quarter of 2025.”

    deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $12bn under advisement.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Asia Pacific – Attraction of the ASEAN Economic Sphere: Japanese Companies Transferring Production from China to Southeast Asia – The Shared Future of Asia and Japan

    Source: Japan Connect

    An increasing number of Japanese companies operating in China are transferring their production bases to countries in the Association of Southeast Asian Nations (ASEAN). This comes as Chinese economic growth slows and concerns rise over the risks of doing business in China, where foreign residents have been arrested on vague grounds.

    Chinese real estate slump: Apartment buildings in Guizhou, China. (c) Jiji Press.
    The Chinese economy is stagnating, and this can clearly be seen in production, consumption and investments. The country’s gross domestic product (GDP) for the second quarter (April-June) of 2024 grew 4.7% year over year, which was 0.6 points lower than the first quarter (January-March). Economic data from August shows that retail business sales, an indicator of consumption trends, grew only 2.1% year over year.

    The slump in the real estate industry is a major factor behind this. The real estate market and related industries make up a fourth of China’s GDP, but investments in real estate development fell 10.2% year over year in the period between January and August 2024. During the COVID-19 pandemic, China implemented a “Zero-COVID Strategy,” which kept citizens indoors, dealt a major blow to the tourism and restaurant industries, and led to investments being concentrated in real estate. Home prices rose exponentially. In response, the Chinese government placed heavy restrictions on risky deals. This caused home prices to drop drastically, and the businesses of many major real estate developers fell into a decline. Down payments were made but buildings never got built, and as similar cases followed one after another, the consumption trend cooled among the population.

    Furthermore, the Chinese government, which places utmost importance on national security, established the Counter Espionage Law in 2014. This has resulted in many foreigners, including Japanese, being arrested for “espionage acts,” which are only vaguely defined. Starting in July 2024, new regulations have been implemented that allow authorities to inspect the contents of electronic devices of individuals and organizations for acts of espionage, raising further concerns that even regular economic activities could be scrutinized. With little hope for significant growth in the Chinese market, coupled with the risks of doing business in China, direct international investments into the country fell 29.1% year over year between January and June 2024. There are also other issues, such as the risk of high tariffs on products produced in China and exported to the USA due to the ongoing tension between the two countries, as well as rising labor costs in China.

    Against this backdrop, Japanese companies are turning their eyes to Southeast Asia for new bases of production. In January 2023, Sony transferred the manufacturing of its cameras for Japan, Europe and the USA from China to Thailand. Its factories in China now only make products to be sold domestically, allowing it to reduce dependency on the country. Kyocera also plans to transfer a part of its electric tools production in China to Vietnam in fiscal 2024. The Vietnam site will mainly manufacture products to be sold in the USA in order to avoid the tariffs placed on exports from China. According to Teikoku Databank, the number of Japanese companies operating in China decreased from 14,394 in 2012 to 13,034 in 2023. Many companies are choosing to relocate back to Japan or to Southeast Asia. This can be seen in how Southeast Asian countries now occupy three of the top five locations in terms of the number of Japanese companies’ overseas subsidiaries: No. 1 is China, followed by USA, Thailand, Singapore, and Vietnam.

    Southeast Asia is attractive in many ways for Japanese companies. Not only is it geographically close to Japan but it also offers a rich pool of human resources with technical prowess and fluency in many languages including English, which allows companies to secure a stable labor force. Many ASEAN countries also have highly transparent fiscal policies and stable currency exchange rates. Cities have established solid infrastructure such as electrical power and transportation networks, making it easier for companies to build factories there and secure supply chains, from production and distribution to sales.

    The Southeast Asian market is very appealing. The 10 ASEAN countries have a combined population of around 670 million people. It tops the population of the European Union (EU), which is around 450 million people, and is the third largest in the world after India and China. The median age is also young, and unlike many developed nations, the region has not yet been faced with the issue of an aging society with a low birthrate. The 2023 nominal GDP of the 10 ASEAN countries combined rose to around 3.81 trillion US dollars, which ranks right after the USA, China, Germany and Japan. It is forecast to overtake Japan’s GDP by 2030. Due to the effects of an aging population and low birthrate, there are concerns that Japan’s market and labor force will shrink going forward. Japanese companies will benefit greatly from operating and expanding their businesses in Southeast Asia, which has a large market, offers rich human resources and is referred to as “the world’s growth center.”

    Japan and ASEAN countries have established various cooperative partnerships in politics, foreign policy and the economy. Japan is an active participant in numerous ASEAN foreign policy and security frameworks, including the East Asia Summit (EAS), which started in Malaysia in 2005, ASEAN Regional Forum (ARF), which discusses political and security issues, and ASEAN Defence Ministers’ Meeting Plus (ADMM-Plus), the only formal meeting of defense ministers in the Asia-Pacific region. In 2020, the Regional Comprehensive Economic Partnership (RCEP) was officially signed, including Japan, China, South Korea, Australia and New Zealand in addition to ASEAN. Building an open economic sphere by providing market access and establishing economic rules is accelerating active free trade, including small and medium-sized businesses.

    While Southeast Asia is attractive to Japan, Japan must also be attractive to Southeast Asia. Southeast Asian company managers often say that decisionmaking is slow in Japanese businesses. They say this is due to a uniquely Japanese custom where multiple meetings are needed to make a single decision, and everyone has to then wait for it to be approved by the head office in Japan. Furthermore, Southeast Asians who grew up loving Japanese brands and anime are already in their 40s and 50s, while the attention of the younger generation, which is driving consumption, has been turning to South Korean and Chinese cultures as well. As such, greater efforts must be made to ensure that Southeast Asia will choose Japan as a partner.

    Last year, Japan and ASEAN celebrated their 50th anniversary of cooperative partnerships. The relationship, in fact, began as one of animosity. Japan drew the ire of Southeast Asia by exporting massive quantities of cheap synthetic rubber to ASEAN, a producer of natural rubber, and that led to holding the ASEAN-Japan forum on synthetic rubber in 1973. Friendly relations were established as Japan promised to take care not to interfere with ASEAN’s natural rubber industry. It was a perfect example of the proverb “After rain comes fair weather.” One could call 2024 the first year of the next half-century of new cooperative partnerships. Going forward, Japan’s efforts will determine how strong this partnership with ASEAN will become.

    By Akio Yaita – Journalist. Graduated from the Faculty of Letters at Keio University. After completing his doctorate at the Chinese Academy of Social Sciences, he worked as a correspondent for the Sankei Shimbun in Beijing and as Taipei bureau chief. Author or co-author of many books.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Global Bodies – Jamaica rejoins the IPU

    Source: Inter-Parliamentary Union – IPU

    Geneva, Switzerland, Monday 14 October 2024 – At the 149th IPU Assembly in Geneva, the IPU welcomed back the Parliament of Jamaica as its 181st Member Parliament, bringing the Organization one step closer to universal membership.

    Jamaica had previously been a member of the IPU from 1983 to 1996.

    President of the Senate, Mr. Thomas Tavares-Finson, said: “We are convinced that renewing our affiliation with the IPU will not only result in greater access to IPU resources, but also allow our Parliament to make an even greater contribution to the landscape of inter-parliamentary cooperation.”

    The Parliament of Jamaica consists of:

    • The House of Representatives, with 63 directly elected members, of which women make up 27.4%, slightly above the global average of 27%.
    • The Senate, with 21 appointed members, of which women comprise 38.1%.

    The IPU is the global organization of national parliaments. It was founded more than 130 years ago as the first multilateral political organization in the world, encouraging cooperation and dialogue between all nations. Today, the IPU comprises 181 national Member Parliaments and 15 regional parliamentary bodies. It promotes democracy and helps parliaments develop into stronger, younger, greener, more gender-balanced and more innovative institutions. It also defends the human rights of parliamentarians through a dedicated committee made up of MPs from around the world.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: ISRAEL-GAZA: MSF mourns and condemns the tragic killing of our colleague in northern Gaza.

    SOURCE: Médecins Sans Frontières/Doctors Without Borders (MSF)

    15 October – Médecins Sans Frontières/Doctors Without Borders are mourning the loss of 31-year-old Nasser Hamdi Abdelatif Al Shalfouh, our MSF colleague.

    Nasser was killed by shrapnel injuries he suffered to his legs and chest on October 8 in Jabalia, North Gaza. 
    Since October 7, Jabalia has been under relentless attacks by Israeli forces, and people have remained trapped since then without being able to flee.

    Nasser died from his injuries on 10 October in Kamal Adwan Hospital. He is survived by his wife and two children.

    Nasser joined MSF as a driver in March 2023 and has not been working since the war started as MSF activities in North Gaza were severely affected. MSF has been trying to expand activities in the north of Gaza, but it has been impossible so far.

    After being injured, Nasser first received emergency care at Al Awda Hospital, Jabalia in North Gaza, and was later transferred to Kamal Adwan Hospital. He was unable to receive the necessary level of care due to the hospital´s lack of capacity and an overwhelming number of patients in the facility.

    All over Gaza, family members and loved ones continue to be killed and injured by relentless fighting and bombings. Nasser is the seventh MSF colleague killed in Gaza since the beginning of the war. This bloodshed needs to end.

    For over a year, Israeli forces have systematically dismantled the health system in Gaza, impeding access to life-saving care for people. At the same time, medical evacuations have become extremely challenging, particularly in the north which has been largely cut off from the rest of Gaza, further making it difficult for people to access care.

    We are horrified by the killing of our colleague which we strongly condemn, and call yet again for the respect and protection of civilians. In this tragic moment, our thoughts are with his family and all colleagues mourning his death.

    Notes

    The situation remains catastrophic in north Gaza and six MSF staff remain trapped in Jabalia camp which is still totally under siege by Israeli forces, and where humanitarian aid cannot enter. Audio testimony from an MSF colleague who fled Jabalia and who is now sheltering in Gaza City is available.

    MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. In 2022, more than 120 project staff from Australia and New Zealand worked with MSF on assignment overseas. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au  

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Property transfer statistics update

    Source: Statistics New Zealand

    Property transfer statistics update – Stats NZ will stop producing quarterly property transfer statistics. Property transfer statistics: June 2024 quarter is the final release in the series. We have removed future editions from the release calendar.  

    At Stats NZ we are committed to delivering value efficiently and sustainably in our changing operating environment. We’ve recognised the need to do things differently and we are modernising and evolving the way we collect, process, and produce official data and statistics.  

    We are committed to working closely with our customers, partners and stakeholders to fully understand the opportunities and challenges, and we will retain the option of starting production of these statistics again if needed.  

    MIL OSI –

  • MIL-OSI Submissions: Africa – Huawei opens registration for the 2024-2025 ICT Competition in Kenya

    Source: Huawei Kenya

     

    ·       The competition targets university and technical college students studying ICT-related courses

     

    Nairobi, Kenya: October 11, 2024 – Huawei Kenya has kicked off the registration for the 2024-2025 ICT Competition in collaboration with leading universities and TVET institutions in Kenya.

     

    This annual competition is part of Huawei’s ongoing commitment to nurture digital talent and enhance ICT skills among the youth, aligning with Kenya’s digital transformation agenda.

     

    The Huawei ICT Competition is designed to offer a platform for students to demonstrate their knowledge in key ICT areas such as networking, cloud computing, artificial intelligence (AI), 5G, and cybersecurity. The competition gives students the opportunity to gain hands-on experience, access training resources, and network with industry professionals, ultimately contributing to the development of Kenya’s ICT sector.

     

    “As we embark on the journey to create a digitally empowered Kenya, this competition is an integral part of developing the next generation of ICT leaders. Through initiatives like the ICT Competition, we are offering students in Kenya a platform to showcase their talent, gain practical skills, and contribute to the country’s digital economy,” said Michael Kamau, Partnerships and Corporate Affairs Manager at Huawei Kenya.

     

    The competition offers participants a unique opportunity to sharpen their ICT skills, with access to free learning materials, expert mentorship, and industry-recognized certifications. Top-performing students also stand to win, and potential job offers at Huawei and its partners. It also offers winners the chance to represent Kenya on the global stage in the final rounds, competing against other bright finalists from across the world.

     

    “The competition is also part of Huawei’s broader collaboration with Kenyan universities to integrate practical ICT training into academic curricula,” Mr. Kamau said.

     

    Registration


    The registration exercise for the 2024-2025 ICT Competition will run until November 30, 2024.  with several rounds of the competition taking place, including a national qualifier, regional semifinals, and the global finals in mid-2025.

     

    University and technical college students studying ICT-related courses are encouraged to register for the competition via the link: https://e.huawei.com/en/talent/ict-academy/#/ict-contest?compId=85131998

     

    Huawei has been a key partner in Kenya’s digital transformation efforts, providing cutting-edge ICT solutions and nurturing local talent through training programs such as the Huawei Seeds for the Future and the ICT Academy, alongside the annual ICT Competition.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Adjustment to early childhood education in the consumers price index

    Source: Statistics New Zealand

    Adjustment to early childhood education in the consumers price index – The FamilyBoost early childhood education (ECE) rebate scheme began on 1 July 2024. The September 2024 quarter consumers price index (CPI), to be released on Wednesday, 16 October at 10:45am, will include an adjustment to reflect the introduction of the rebate scheme.

    An adjustment has been made to the ECE subgroup in the CPI to reflect the rebate households will receive through the FamilyBoost scheme.

    Inland Revenue has provided data about the anticipated fall in household expenditure on ECE in 2024/25 due to FamilyBoost. A fall of about $174 million is expected in CPI expenditure on ECE.

    The movement for the ECE subgroup in the September 2024 quarter will incorporate the regular price changes for ECE, and this adjustment.

    MIL OSI –

  • MIL-OSI Submissions: Africa – ATIDI Announces Election of New Board Leadership

    Source: African Trade & Investment Development Insurance

    ·       At its recently concluded Board Meeting, Professor Kelly Mua Kingsley was elected as the new Chair of the Board and Ms. Christina Westholm- Schröder was elected as the new Vice Chair of the Board.

    ·       ATIDI was recently upgraded by Moody’s from A3/Positive to A2/Stable – while S&P affirmed its A/Stable rating, reflecting the organization’s strong financial management and strategic direction.

    Nairobi, 14 October 2024 — At its 101st meeting held on 5 October 2024, the Board of Directors of African Trade & Investment Development Insurance – ATIDI (commonly known as the African Trade Insurance Agency), announced the election of Professor Kelly Mua Kingsly as the new Chair of the Board. He is deputized by Ms. Christina Westholm- Schröder.

    The election of the new Board leadership follows the appointment of new Board Members by ATIDI’s Annual General Meeting in line with ATIDI’s continued commitment to strong corporate governance.

    The new Board, which includes ATIDI’s first Independent Director, will play a critical role in steering the organization’s strategic direction and governance, further enhancing the organization’s efforts to foster sustainable growth across the continent.

    Professor Kelly is the Director of Finance Operations at the Ministry of Finance’s Directorate General of Treasury in Cameroon. In this capacity, he has been instrumental in designing and implementing strategies for monitoring public revenue and expenditure, preparing comprehensive financial reviews and spearheading public finance reforms.

    In addition to his role at the Ministry of Finance, Professor Kelly serves as the Censor at the Central Bank of Central African States (BEAC) and represents Cameroon at the Regional Advisory Commission on Financial Markets (COSUMAF). His recent appointment as Cameroon’s designated representative with the United Nations Development Program and the European Investment Bank for GEF projects underscores his commitment to managing climate finance and enhancing regional debt resilience.

    Accepting his appointment, Prof. Kelly said his vision is to support best corporate governance practices within ATIDI and drive economic growth that benefits the continent by working closely with ATIDI’s leadership.

    “I aim to expand ATIDI’s outreach and visibility across Africa. I encourage all the Central African Economic and Monetary Community (CEMAC) countries to consider applying for membership in ATIDI, as this will further strengthen regional cooperation and open new avenues for economic collaboration,” prof. Kelly said.

    Prof. Kelly’s election as the first Cameroonian Board Chair has a significant impact on fostering relationships and networks within the CEMAC and the broader West African region. His role is set to facilitate collaboration among member states, enhance trade relations and promote regional integration. For more information on the membership process, visit  

    https://www.atidi.africa/investorrelations/membership-process/  

    Prof. Kelly succeeds Dr. Yohannes Ayalew Birru who has diligently served for two consecutive terms of three years. He was deputised by Ms. Hope Murera, the Managing Director of Zep-Re. During their leadership, ATIDI’s member states increased from 14 to 24 (current member states include Kenya, Cameroon, Nigeria, Ethiopia, Ghana, Malawi, South Sudan, Tanzania, Zimbabwe, Uganda, Zambia, Rwanda, Burundi, Côte d’Ivoire, Benin, Mali, Democratic Republic of Congo, Chad, Senegal, Togo, Madagascar, Niger, Burkina Faso, and Angola).  Similarly, gross exposure increased from USD 4.8 million to USD9.6 billion, profits from USD12 million to USD69.1 million and assets from USD419 million to USD837 million.

    “I take this opportunity to express my deep appreciation to the outgoing Board Chairman and his team for their outstanding leadership in bringing ATIDI to such a level of performance,” prof. Kelly said.

    The new Vice Chairperson, Ms. Westholm-Schröder is Sovereign’s Chief Underwriter and Senior Vice President, with more than 35 years of experience in the political risk insurance industry. She is responsible for all aspects of Sovereign’s transactional underwriting and also leads Sovereign’s successful cooperation with multilaterals and export credit agencies.

    Welcoming the new Board of Directors, ATIDI CEO Manuel Moses the new board’s vision and leadership would be instrumental in guiding ATIDI’s future.

    “With the Board’s diverse expertise, we expect that we will drive impactful initiatives that foster sustainable trade and investment across Africa. This new leadership team will further enhance our outreach efforts and engage our stakeholders more effectively, creating a stronger and more connected community. Together, we are poised to make a significant difference in the economic landscape of the continent,” Mr. Manuel said.  

    Rating upgrade

    ATIDI was recently upgraded by Moody’s from A3/Positive to A2/Stable – while S&P affirmed its A/Stable rating, reflecting the organization’s strong financial management and strategic direction. This positive assessment positions ATIDI well as it implements its 2024-2027 strategy, which aims to expand its footprint and strengthen its impact across the region. The Board’s support will be crucial in navigating this ambitious strategy, ensuring that ATIDI leverages its strengths and address challenges effectively. Their insights and networks will be vital ATIDI seeks to build new partnerships and enhance its investment initiatives.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Stats NZ information release: International travel: August 2024

    Source: Statistics New Zealand

    International travel: August 2024 – 11 October 2024 – International travel covers the number and characteristics of overseas visitors and New Zealand resident travellers (short-term movements) entering or leaving New Zealand.

    Key facts
    Monthly arrivals – overseas visitors

    Overseas visitor arrivals were 214,300 in August 2024, an increase of 7,500 from August 2023. The biggest changes were in arrivals from:

    • Australia (up 13,800)
    • China (up 3,200)
    • United States (down 6,500).

    The total number of overseas visitor arrivals in August 2024 was 85 percent of the 251,100 in August 2019 (before the COVID-19 pandemic).

    Visit Statistics NZ’s website to read this information release:

    MIL OSI –

  • MIL-OSI Submissions: Food prices increase 1.2 percent annually – Stats NZ media and information release: Selected price indexes: September 2024

    Source: Statistics New Zealand

    Food prices increase 1.2 percent annually – 11 October 2024 – Food prices increased 1.2 percent in the 12 months to September 2024, following a 0.4 percent increase in the 12 months to August 2024, according to figures released by Stats NZ today.

    Higher prices for restaurant meals and ready-to-eat food and grocery food drove the annual increase in food prices, up 3.5 percent and 2.7 percent, respectively.

    The price increase in restaurant meals and ready-to-eat food was due to higher prices for lunch/brunch, takeaway coffees, and hamburgers.

    The price increase in grocery food was due to higher prices for olive oil, butter, and chocolate biscuits.

    “The price for a 1-litre bottle of olive oil has increased by about 58 percent since this time last year, with an average price of $21.56,” consumer prices manager Nicola Growden said.

    Visit Statistics NZ’s website to read this news story and information release and to download CSV files:

    MIL OSI –

  • MIL-OSI Submissions: Australia – Newcastle Airport lands sustainability funding – CBA

    Source: Commonwealth Bank of Australia (CBA)

    CommBank supports the growing gateway to the Hunter with a $235m Green Sustainability-Linked Loan.

    Newcastle Airport has successfully converted $235m of funding from CommBank to support sustainability initiatives over the next five years.

    CommBank acted as sole coordinator in the deal and will provide funding through an innovative Green Sustainability-Linked Loan (GSLL). The Green Loan component can fund energy efficient buildings, renewable energy, energy efficiency, pollution prevention and control, electric vehicle transportation and biodiversity initiatives.

    The Sustainability-Linked Loan ties interest rates to performance on three sustainability outcomes, building on existing achievements:

    Set and work towards a science-based target for reducing scope 3 emissions, caused indirectly throughout the airport’s supply chain. As part of this, the airport will work with airlines and tenants to reduce supply chain emissions installing infrastructure to support stakeholders to meet their goals, collaborating on mutually beneficial initiatives and advocating for sustainable aviation fuel (SAF) alternatives for the aviation industry.

    Maintaining the third-highest level in Airport Carbon Accreditation (ACA), one of only two airports in Australia to do so. The ACA independently assesses and recognises the efforts of airports to manage and reduce their carbon emissions. Newcastle Airport’s accreditation showcases its commitment to sustainable practices and environmental stewardship.

    Waste reduction – committing to reducing waste to landfill for the entire airport precinct by collaborating with precinct stakeholders, investing in diversion initiatives and waste education programs.

    The new loan builds on Newcastle Airport’s commitment to achieving net zero scope 1 and scope 2 carbon emissions by 2030. Some of the important ways the airport has progressed on its commitment include:

    Designing and building energy efficient structures: the new terminal build has received a 5-Star Green Star ‘Designed’ Record of Achievement from the Green Building Council of Australia. Innovation hub Astra Aerolab buildings under development are also targeting the same accreditations. The expanded terminal at Newcastle Airport achieving a 5 Star Green Star rating is a testament to its high level of sustainability and environmental performance.

    Renewable energy: new carpark roof now supports 1236 solar panels.
    New partnership with an Australian renewable energy retailer, allowing energy requirements to be met entirely through renewable sources. This is a significant step towards the airport’s commitment of achieving net zero scope 2 emissions well ahead of its original 2030 target.

    Newcastle Airport CEO Dr. Peter Cock thanked CommBank for its support and said the loan funding will play a crucial role in delivering the airport’s sustainability promise and is fundamental to its commitment of being the airport the region deserves.

    “The people of the Hunter have high expectations,” Dr Cock said. “Ongoing investment in energy-saving and green initiatives is a key driver of Newcastle Airport’s leadership in the sustainable energy space. The Hunter is a region in transition, and Newcastle Airport is committed to enabling that shift towards our region and nation achieving net zero.

    “Our partnership with CommBank contributes to global sustainability efforts and aligns with our goal to become the green gateway to NSW.”

    CommBank General Manager Regional and Agribusiness Banking, Vanessa Nolan-Woods, said: “We’re delighted to continue our ongoing partnership with Newcastle Airport and play a role in helping to support the growth and sustainability of the Hunter and Newcastle region.

    “Newcastle Airport is already making strong progress in the transition to net-zero and its desire to set ambitious new environmental targets as part of this new funding arrangement demonstrates a continued commitment to achieving sustainable outcomes and the development of a world-class gateway to the Hunter region.”

    Commenting on CBA’s commitment to the region, Ms Nolan-Woods said: “We have expanded our Business Banking and customer support teams on the ground to better support growth in the region. We are also incredibly proud of our specialist sustainable finance team who work with our bankers and their customers to help them innovate and accelerate sustainability objectives.”

    CBA is committed to supporting the aviation and transport sectors with sustainable finance. Recent transactions include:

    • Dysons Group: Structured financing to support electrification of bus fleet following Victorian Government’s award of 10-year metropolitan bus contract.
    • GoZero Group: Asset finance to support GoZero school bus electrification in New South Wales
    • North Queensland Airport: Sustainability-Linked Loan tied to better biodiversity outcomes and partnership with First Nations peoples.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Environment – E-waste Experts Urge Public: Stop Trashing Electronic Products with Ordinary Garbage

    Source: WEEE Forum

    14 tonnes of e-waste discarded with regular household garbage every year equals in weight ~24,000 of the world’s heaviest passenger planes – enough to form a queue from London-Helsinki, NY-Miami, Cairo-Tripoli, Bangkok- Calcutta

    International E-waste Day 2024:

    To mark the upcoming International E-Waste Day, Oct. 14, consumers worldwide are urged to collect dead and/or unused electronics and electrical products and give them a second life through reuse or repair, or recycle them properly.

    Proper e-waste management reduces CO2 equivalent emissions by 93 million tonnes per year

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Australia – Surgeons call for pause on “risky” fast-tracking of overseas specialists

    Source: Royal Australasian College of Surgeons (RACS)

    The Royal Australasian College of Surgeons (RACS) has added its voice to growing calls for a pause on proposed fast-tracking of overseas-trained doctors saying the plan is risky and won’t increase workforce supply where it’s needed most.

    The College says there is a real need to grow the surgical workforce in rural and regional parts of Australia particularly but says the Australian Health Practitioner Regulation Agency’s (AHPRA) plan lacks the nuance to fix the issue in a safe and effective way.

    RACS has joined other Australian medical colleges in writing to the Federal Health Minister on Friday 11 October asking for a rethink of the proposal.

    RACS President Associate Professor Kerin Fielding says the College has long been advocating for targeted reforms to address healthcare shortages but says these need to be done in a way that prioritise areas most in need, including rural locations, and uphold patient safety. The College’s concerns particularly centre on the proposal to reduce supervision time for Specialist International Medical Graduates (SIMGs) and their lack of targeted measures to retain a rural/regional workforce.

    “The proposals in their current form present significant risks to patients and may result in a lack of consistency of surgical standards across Australia. The lack of clear supervision requirements and inadequate support systems for SIMGs, especially in rural areas, could compromise standards of care.

    “We need to ensure that SIMGs entering Australia are properly trained, supported, and retained in the areas where they are most needed. This is about ensuring every Australian, no matter where they live, has access to safe, high-quality surgical care,” Associate Professor Fielding says.

    RACS has raised the following key concerns with AHPRA’s proposed pathways:

    • Inadequate supervision – The shortened six-month supervision period proposed by AHPRA may not be sufficient to identify performance issues or ensure that SIMGs are adequately prepared to practice safely in Australia’s healthcare system, especially for procedural specialties like surgery.
    • Lack of rural support – SIMGs placed in isolated rural areas may lack the necessary supervision and support, potentially lowering the standard of care for patients in those regions.
    • Undermining surgical standards – The expedited pathways risk creating a two-tier surgical workforce, undermining the rigorous training and accreditation processes currently in place.
    • Retention and distribution concerns – The proposal lacks targeted measures to ensure SIMGs remain in rural and regional areas, which could result in ongoing workforce shortages in underserved regions.

    RACS is advocating for a more strategic and transparent approach, calling on AHPRA to:

    • Pause the implementation of the expedited pathways until further consultation and review can occur.
    • Introduce specific measures to recruit and retain surgeons in areas of critical need, both geographically and by specialty.
    • Ensure transparency around qualification criteria, supervision models, and assessment processes.

    RACS remains committed to working collaboratively with AHPRA, the Medical Board of Australia, and other stakeholders to develop a solution that addresses workforce shortages while upholding the high standards of surgical practice and training in Australia.

    About the Royal Australasian College of Surgeons (RACS)

    RACS is the leading advocate for surgical standards, professionalism and surgical education in Australia and Aotearoa New Zealand. The College is a not-for-profit organisation that represents more than 8000 surgeons and 1300 surgical trainees and Specialist International Medical Graduates. RACS also supports healthcare and surgical education in the Asia-Pacific region and is a substantial funder of surgical research. There are nine surgical specialties in Australasia being: Cardiothoracic Surgery, General Surgery, Neurosurgery, Orthopaedic Surgery, Otolaryngology Head and Neck Surgery, Paediatric Surgery, Plastic and Reconstructive Surgery, Urology and Vascular Surgery. http://www.surgeons.org

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Myanmar: Two activists at grave risk of torture after arrests – Amnesty International

    Source: Amnesty International

    Myanmar’s military authorities must immediately account for the whereabouts and wellbeing of two pro-democracy activists arrested in Yangon on Wednesday, Amnesty International said today.

    Paing Phyo Min and Shein Wai Aung were arrested on 9 October and sent to an interrogation center, Amnesty International understands. Paing Phyo Min’s family has not been able to reach him, while Shein Wai Aung and his father, mother and sister have also been uncontactable.

    As many as six additional people are also believed to have been arrested in raids.

    “The Myanmar military must urgently account for the whereabouts and wellbeing of Paing Phyo Min and of Shein Wai Aung and his family. Unless they can be charged with an internationally recognized crime, they must be immediately and unconditionally released,” Amnesty International’s Myanmar Researcher Joe Freeman said.

    “As leaders from The Association of Southeast Asian Nations (ASEAN) meet in Laos and discuss a way out of the crisis brought on by the 2021 coup, the Myanmar military continues to arbitrarily detain people and carry out repression across the country.”

    Paing Phyo Min is known for his involvement with a group of young people performing Thangyat, a popular Myanmar traditional art form which fuses poetry, comedy and music to comment on social issues.

    In 2019, Paing Phyo Min and other members of an activist group called the Peacock Generation were arrested after performing Thangyat dressed as soldiers. For this, he was sentenced to six years in prison.

    In 2020, Amnesty International called for Paing Phyo Min’s release as part of its annual Write 4 Rights campaign, with many people writing letters to him to bolster his spirits. He was released in 2021 as part of a mass prisoner amnesty.

    After the military coup, he and others took part in peaceful protests in Yangon, despite enormous risks following violent crackdowns.

    Shein Wai Aung, a former student at Dagon University in Yangon, has been active in peaceful protests and in supporting political prisoners in Myanmar.

    “Protesting in Myanmar today is not the same as it was before the coup. Anyone involved in any kind of dissent against the military faces long jail terms, torture and other ill-treatment, and even death in custody,” Joe Freeman said.

    “In Myanmar’s prison system, there is little hope of fair treatment, no transparency, and extremely substandard conditions. Interrogation centers, where these two activists have likely been sent, are also notorious locations of abuse where torture has been used to extract information before charges are formally brought.”

    Myanmar’s military has killed more than 5,000 civilians since seizing power in the coup on 1 February 2021. The United Nations Office of the High Commissioner for Human Rights said in its latest report last month that at least 1,853 of those people have died in custody.

    In the 2022 report ‘15 Days Felt Like 15 Years’, Amnesty International documented torture and other ill-treatment against people arbitrarily detained by the military and police after the coup.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Economy – Global Barometers signal continued moderate growth of the world economy – KOF

    Source: KOF Economic Institute

    The Global Barometers record a small increase in October, largely offsetting the previous month’s decline. The Coincident Barometer continues to signal economic development below the medium-term average, while the leading barometer continues to point to a normalisation of growth in the coming months.

    The Coincident Global Economic Barometer increases by 2.1 points in October, to reach 93.8 points, while the Leading Barometer gains 1.9 points, to 102.5 points. The rise in both indicators is mainly driven by the results of the Asia, Pacific & Africa region.

    “Since December 2022, the leading global barometer has been more positive or less negative than the coincident global barometer. For some time now, both indicators have been moving more or less sideways. This is historically quite unique and suggests that general expectations of economic normalisation seem to be repeatedly disappointed. At present, the situation in the Middle East seems to be preventing a real recovery in the global economy. We remain hopeful that solutions will be found that will allow us to move forward and that the assessment of the situation will improve significantly in the near future”, evaluates Jan-Egbert Sturm, Director of KOF Swiss Economic Institute.

    Coincident Barometer – regions and sectors

    The gain in the Coincident Barometer in October is the result of a 2.2-point positive contribution of the coincident indicator for the Asia, Pacific & Africa region, while Europe remains stable, and the Western Hemisphere contributes slightly negatively with -0.1 points. After losing ground between February and July of this year, the indicator for the Asia, Pacific & Africa region has stopped falling, and now fluctuates between 88 and 92 points, signalling the difficulty of the region to regain the increasing tendency observed in 2023.

    All the Coincident sector indicators increase in October, with Construction standing out. Economy (aggregated business and consumer evaluations) remains at the lowest level among the sector indicators.

    Leading Barometer – regions and sectors

    The Leading Global Barometer leads the world economic growth rate cycle by three to six months on average. In October, the Asia, Pacific & Africa region and the Western Hemisphere contribute positively to the aggregate result with 1.7 and 0.4 points, respectively, while Europe contributes in the opposite direction with -0.2 points.

    In October, all the Leading sector indicators increase, with Construction standing out for a gain of over 10 points, reaching a level that reflects a positive outlook.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Crypto – Bitcoin’s price this Halloween: new record looms? Finance experts’ survey

    Source: Finbold

    There is a long-standing belief within cryptocurrency circles that ‘Uptober’ gives way to the Halloween effect—a period between the end of October and the end of May when markets trend higher.

    To find out what Bitcoin’s price could be during Halloween 2024, Finbold interviewed five finance professionals and revealed that BTC is expected to, on average, hit $69,400 on the spookiest of holidays.

    There is also some variance in the forecasts despite the general optimism, and the average of the upper bounds of the target ranges would see the cryptocurrency trade at $70,400 on Halloween and of the lowest at $59,400.

    Furthermore, the most bullish individual target hopes for a BTC climb to $85,000 on October 31, while the lowest is worried about a drop to $35,000.

    Therefore, Bitcoin’s price this Halloween is expected to be 101.16% higher than in October 2023.

    Finance experts who participated in the survey include the CEO of Joy Wallet, the CEO of ForexMT4Indicators, HodlMaven’s owner and investment research manager at Gold IRA Investment Guy, and the founder of Stock Dork.

    Bitcoin poised for a record Halloween price in 2024

    Nonetheless, Bitcoin is likely to experience a strong October and is already at its highest ‘Uptober’ prices compared to every preceding year, save for 2021. Furthermore, as Andreja Stojanovic, the co-author of the research, pointed out:

    “Should the average expert price target be reached, BTC would set a new record for its Halloween price as it would be $8,100 higher than three years earlier, almost twice as high as in 2023, and more than ten times higher than in 2017 or 2018.”

    Finally, despite expert bullishness and market optimism, October may bring negative surprises for BTC.

    Notably, recent Middle East expectations severely depressed the cryptocurrency’s price at the beginning of the month, and the danger of a further expansion of the war runs high.

    Read the full story with statistics: https://finbold.com/bitcoins-price-this-halloween-new-record-looms-finance-experts-survey/

    MIL OSI – Submitted News –