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.”
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.
PETER KHALIL MP, MEMBER FOR WILLS: Thanks everyone, I’m Peter Khalil MP, Member for Wills. Today I’m joined by Amanda Rishworth, Claudia Johnson, Assistant Principal here at Brunswick Secondary College and Hunter Johnson, the CEO of The Man Cave and these wonderful young leaders here, these young men – I’m going to get this right – Jethro, Campbell, Harry, and Marco, who have demonstrated some amazing leadership in the way that they role model to younger kids and teach respectful relationships. They’re doing a terrific job, as is the school. So it’s great to have the Minister here to hear about the work that the Man Cave is doing, and the Brunswick Secondary College are doing, and I want to hand over now to Minister Amanda Rishworth. Welcome to Wills, thanks for coming.
AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: Thank you. Well, look, it’s really wonderful to be here, and I’d like to firstly acknowledge the advocacy that Peter Khalil does do, particularly about getting the right supports for adolescent men and boys. I’d also like to thank Hunter from The Man Cave and Claudia from Brunswick Secondary College for having us here today. We are announcing today the three providers that will be delivering our Healthy Mate program. The three providers are the Jesuit Social Services, the Foundation for Positive Masculinity and also The Man Cave. These three organisations will be delivering, in-person conversation and connection with young men, talking about what it means to be a young man: what some of the challenges they’re facing, how can they develop positive relationships with their peers, how can they develop positive relationships with their wider community. We know that there are many influences out there. Some role models are great, and it was wonderful to speak with these young men about some of those really good role models. But we know that many young men are being influenced by not-so-good role models. Influencers like Andrew Tate, and other online influencers that are really promoting really rigid, negative, aggressive, and violent portrayals of what it is to be a man. And so it’s really important that we get in and have these conversations with young men, and I’d like to thank The Man Cave for the proposal they put in. Their work really goes to actually having deep conversations, making sure that there are really healthy role models for young men to help them be able to realise that talking about your emotions is really important. We were talking before just about the fact that everyone feels sad from time to time, and that it’s not a sign of weakness for young men to talk about being sad. So this is what this program is doing, is making sure that we can work with young men and boys to make sure that we are developing healthy men into the future. This is, of course, really important for those young men as individuals, but really important as we tackle gender-based violence and this has been a critical area that not only was highlighted in the rapid review, but in our National Plan, that we must engage and work with young men and boys into the future. So I’m really pleased to hand over to Hunter now from The Man Cave, that is going to be one of the three organisations that will be delivering this important program.
HUNTER JOHNSON: Thank you, Minister. And thank you Peter, great to see you again. Thank you, Claudia as well. Amazing to be at Brunswick Secondary College, which is local for us. We really focus on boys’ strengths rather than their deficits. It is absolutely an inflection point for masculinity right now, it’s a really confusing time for many young men, but we’re surrounded by four, incredible, positive role models here today. The funding for us will allow us to scale to the many – to the hundreds of schools that reach out to us that have economic barriers to entry. It allows us to subsidise the program so that we can get it out far and wide, and really, it’s focussing on the character development, the social and emotional intelligence, and their relationship skills, the sex education in a way that really meets boys where they’re at. It can be, as I said, very confusing, a lot of these messages, but also we work with tens of thousands of boys on the front line every day and I can tell you from a position of hope, there are thousands of young men who want to be allies, both for supporting themselves but their relationships, their communities, too. So just recognise it’s such an important time in Australian culture, whether it’s men’s mental illness, men’s suicide prevention or men’s violence against women, a lot of the funding traditionally has gone to crisis management, and I fully understand why and I back it, but we’re also at a really exciting point with this generational moment where we can invest in the future generation to create a positive future state for masculinity. So this is a real landmark investment, I really back the courage of the Australian Government to do this and we’re excited to work alongside the other members of the collective to scale this work into the communities that need it most. So thank you very much and I’ll pass over to Claudia.
CLAUDIA JOHNSON: Thanks, Hunter. I’m really grateful to you, Minister Rishworth, and to The Man Cave for including Brunswick Secondary College in this wonderful opportunity. We know that young men need particular support, and they specifically need different ways to receive support. So it just can’t be one single program. It needs to be a whole range of things and certainly The Man Cave’s program will fit perfectly with what we’re doing at the school. The Man Cave, the program’s going to benefit our wonderful young men, but it also benefits the young women in our school as well and the community more broadly. So, again, we’re really grateful for this partnership and we’re excited for where it’s going to bring to our school. Thank you.
JOURNALIST: Minister, whereabouts is this program? What parts of the country is it actually rolled out in?
AMANDA RISHWORTH: Well, this is a trial and at the moment we’re looking at predominantly rolling it out in New South Wales and Victoria, but very much looking at continuing to see the results and looking at other opportunities which allows us to roll this program out.
JOURNALIST: How long’s the trial going to go for?
AMANDA RISHWORTH: The trial is over the next year, and we will hopefully get a good evaluation of the trial. We know already anecdotally this is having a positive influence, even just speaking recently, from speaking to participants in the program, hearing directly the benefits before this trial even began about the Man Cave program. But this will allow greater accessibility and evaluation and then we’ll look at where else we can extend it to.
JOURNALIST: What about in areas like the Northern Territory? Just yesterday another woman was killed, this is the seventh woman since July in the Territory. What else needs to be done in areas like that where we don’t have access to services like this and enough help for women up there?
AMANDA RISHWORTH: In terms of particularly for Aboriginal and Torres Strait Islander people, we have a separate action plan that was developed with States and Territories about how we address the disproportionately high rate of violence against Aboriginal women and children. And in particular, we’ve announced a number of actions, including men’s wellness camps. We are currently rolling those out, which provide culturally appropriate healing for men across the country, but there has been a particular focus on the Northern Territory under that program. These aren’t run by government. This is run by those with a cultural appropriateness to connect with men. When it comes to adolescent boys who have experienced violence, that’s another challenge because we know that trauma, in particular, can have an impact. We’ve recently announced the roll out of a number of programs to support those adolescent boys who have experienced family domestic violence themselves and that is about stopping the cycle, the generational cycle of violence. So this program is, in itself, is not the only program. In fact, under our Aboriginal and Torres Strait Islander Action Plan, there’s $263 million. When it comes to support in the Northern Territory, we have put close to $180 million extra into support within the Northern Territory.
JOURNALIST: Something’s obviously not working up there, though?
AMANDA RISHWORTH: Well, I would make the point about the National Plan. The National Plan is about a plan to change generations. We know that, for example, this program is about changing the attitudes and stereotypes that come along with a rigid masculinity that can lead to violence. So this is about making sure that we have adolescent boys that grow up healthy. That obviously, to see the benefits when it comes to violence, will take some time. I just visited, just then, new safe places accommodation here in Victoria, but equally we’re rolling them out across the country. This is building crisis accommodation as well. So we need to make sure that we’re investing in prevention, early intervention, crisis response and healing and recovery. We’ve invested as a Government, in the last two and a half years, an extra $3.4 billion. Obviously we’re rolling this out to get it on the ground. But some of this is about generational change, it is about culture change in Australia, and I would invite everyone to work with all levels of government, and I will remind that all levels of government have signed up to this National Plan, along with how we create change in our broader community if we’re going to achieve our goal.
JOURNALIST: How important is cracking down on social media? Obviously a lot of young people use TikTok and things like that, a lot of misinformation, a lot of values posted on TikTok. How important is cracking down on that for young kids?
AMANDA RISHWORTH: Look, obviously what we know is that social media in particular feeds up information that causes a stir and what that can mean is that there is a lot of quite aggressive footage on there. There can often be views that condone violence against women, encourage violence against women, and if you’re at a particularly young age, then this could be quite influential. We were just talking before about the importance of role models at the home, and it was really lovely to hear some of the young men here talking about what an important role model their father was in particular. But we also need to acknowledge that young people are being really bombarded by some really very toxic attitudes and viewpoints on social media. So it is important that we do crack down on social media and that is why our government’s committed to having an age limit on social media in legislation introduced by the end of the year.
JOURNALIST: Can I ask Hunter a quick question about the program? In terms of how you’re going to see how effective it is in schools, how are you actually going to look at that data?
HUNTER JOHNSON: Sure, so we work with schools based on their socioeconomic status, which is basically called an ICSEA status. So we will charge a school based on how high or affluent or disadvantaged they may be. We’ve also got an in-house impact evaluation team that monitors the short, long-term behavioural change and the attitudinal change, and we partner with educational institutions like universities to measure the effectiveness.
JOURNALIST: Just a couple of questions. Obviously the Prime Minister’s just purchased that $4.3 million home. Do you think he’s shown a lack of judgment by purchasing this multi-million dollar property during a cost-of-living crisis?
AMANDA RISHWORTH: I don’t accept that. The purchase of this house is really a matter for the Prime Minister and his fiancé. And he won’t be the first person or the last person, politician or other person, to buy a property. But I think what’s important is you need to look at the actions that this Government has taken when it comes to cost of living. Actions like our immediate support for a 45 per cent increase in Commonwealth Rent Assistance, whether it’s our $32 billion in investment, whether that’s in social and affordable housing, whether that’s in our rent-to-buy plan, whether that is in our home equity scheme that supports people become homeowners. I mean, really, the Greens and the Liberal Party need to front up and explain why they are standing in the way. So we’ve got to judge us by the actions, our cheaper medicines, these are the things that our government is taking action on and are critical to support people with cost-of-living pressures.
JOURNALIST: A recent survey that was released just last week said around 80 per cent of people believed that young people aren’t going to be able to buy a new home without the help of a family member and that they’re unlikely to ever be able to purchase a new home. Does this indicate that the public doesn’t believe your government is doing enough to help first homebuyers?
AMANDA RISHWORTH: Firstly, I would say that it is a challenge, of course, to get more supply online. We’ve had inaction by the previous Federal Government, the Liberal Government that did nothing when it came to housing supply in this country. So from the very beginning, we’ve been delivering things like the Housing Australia Future Fund, but also this is where our help-to-buy scheme is so important. It is providing the opportunity for 40,000 Australians to have a share – to be part of a shared equity scheme to help them own their first home. And so it is quite appalling that the Liberal Party and the Greens are standing in the way of this legislation. So I’m not surprised that Australians are feeling pretty disappointed because this legislation has been stalled in the Senate.
JOURNALIST: Is Labor divided on its housing tax policy?
AMANDA RISHWORTH: No.
JOURNALIST: Would you like to see any change to negative gearing arrangements?
AMANDA RISHWORTH: That is not part of our housing policy. As I said, we’ve committed to $32 billion extra funding when it comes to our housing policies and that includes things like the 45 per cent in Commonwealth Rent Assistance, which is flowing to people now. But it also includes increasing supply across the domains of social and affordable housing. We know that social housing has been ignored for so many years and our housing Australia Future Fund is delivering that. Our housing funding to States and Territories is delivering on that. But, of course, in addition to that, private rental and, of course, looking at home ownership. We are looking right across the board to support people. I tell you one thing that won’t help the cost of housing and that is the Liberal Party, A, standing in the way with the Greens blocking of our bill, but also, their plans that means that people have to dig into their retirement savings and to own a house. That will only ensure that more people rely on the pension and push up house prices. So it’s only Labor with a credible plan to address housing shortages in this country.
JOURNALIST: Will you rule out making any changes to the housing tax mix before the next election?
AMANDA RISHWORTH: Well, look, as the Prime Minister, Housing Minister, Treasurer said, that is not part of our plan. We have put our plans forward and we will keep talking about how important our homes for Australia plan is, that’s delivering houses now. I just recently, just before, went out to see the capital build that will happen for crisis accommodation for women and children fleeing domestic and family violence. Our funding is allowing for over 100 safe places for women and children leaving violent circumstances. That wouldn’t have been able to be done without the investment from the Commonwealth, a capital investment, to actually build those places. Thank you.
17 October 2024 – Tax Justice Aotearoa welcomes the latest 1News-Verian poll finding which shows almost half of voters would support a capital gains tax that excludes the family home.
The poll asked “Do you support or oppose the introduction of a capital gains tax (CGT) on properties other than the family home?”
More voters than not said they would support the introduction of a CGT, with 46 per cent in favour and 41 per cent opposed. 13 per cent did not know or preferred not to say.
“This poll shows that New Zealanders are tired of the current unfair system, in which you are taxed less if you make a living from buying and selling houses than you do if you work an ordinary job,” says Tax Justice Aotearoa chair Glenn Barclay.
“New Zealand is an outlier internationally in that we do not tax capital gains in a comprehensive way. The additional revenue raised could fund vital services such as education, healthcare and infrastructure and help address climate change – leading to a better quality of life for all New Zealanders.”
“Our tax system is way out of balance and a capital gains tax (CGT) is a good first step to help level the playing field between wage earners and those who mainly earn their money through investments,” Barclay says.
“There has been growing support for a capital gains tax from a range of individuals and organisations in the media in recent weeks and this poll shows the public of New Zealand are supportive too.”
Polling commissioned by TJA also indicates a strong public appetite for a tax on capital – and showed that when the concept is properly explained, support was even stronger.
“Once people understand that gains from the sale of assets such as houses and shares is income, just like income from employment, they realise how unfair our current system is,” Barclay says.
“Given the public level of support for treating all sources of income consistently for tax purposes, we call on all political parties to act now.”
Passengers pose for photos with a high-speed electrical multiple unit (EMU) train of the Jakarta-Bandung high-speed railway on the platform of Halim Station in Jakarta, Indonesia, April 17, 2024. [Photo/Xinhua]
The Jakarta-Bandung High-Speed Railway (HSR), celebrating its first anniversary on Thursday, has transported 5.79 million passengers, according to PT Kereta Cepat Indonesia-China (KCIC), a joint venture between Indonesian and Chinese enterprises that built and operates the railway.
Since its commercial launch in October 2023, the HSR has completed over 15,826 train trips, covering more than 2.57 million kilometers. The number of daily train services has increased from 14 at the start of operations to 52, with passenger seats rising from 8,400 to over 31,000. The highest daily ridership reached 24,132, according to KCIC statistics.
The HSR is fully powered by electricity, significantly reducing fuel consumption and emissions. The KCIC said that the green energy initiative saves Indonesia around 3.2 trillion rupiahs (208 million U.S. dollars) annually in fuel costs.
In addition, Indonesian government data indicated that between 2019 and 2023, the project contributed 86.5 trillion rupiahs (about 5.62 billion dollars) to the GDP of Jakarta and West Java.
With a design speed of 350 km per hour, the 142.3-km high-speed railway has cut travel time between Jakarta and Bandung from over three hours to just 46 minutes.
Today, President Biden announced an additional $4.5 billion in student debt cancellation for over 60,000 borrowers through the Public Service Loan Forgiveness (PSLF) program, bringing the number of public service workers who have had their student loans cancelled to over 1 million people during the Biden-Harris Administration. Before President Biden and Vice President Harris took office, only 7,000 borrowers had ever received forgiveness through PSLF. Thanks to the Biden-Harris Administration’s significant improvements to the PSLF program, over 1 million teachers, firefighters, law enforcement officials, nurses, servicemembers, and other public service workers who have dedicated their lives to serving their communities are getting the student debt relief they are entitled to under the law. Last week, President Biden met with a kindergarten teacher who has been paying her loans for 12 years and let her know that she is one of the 1 million people approved for PSLF under his Administration, and over $46,000 of her loans are being cancelled. In total, the Biden-Harris Administration has approved $175 billion in student debt relief for nearly 5 million borrowers through various actions.
From Day One of their Administration, President Biden and Vice President Harris vowed to fix the student loan system and make sure higher education is a ticket to the middle class – not a barrier to opportunity. Already, the Biden-Harris Administration has delivered life-changing relief to students and families. While Republican elected officials try every which way to block millions of their own constituents from receiving student debt relief – even proposing to get rid of the PSLF program altogether – President Biden and Vice President Harris are fighting to provide borrowers student debt relief and making higher education affordable.
Delivering Life-Changing Relief to Over 1 Million Public Servants
In 2007, Congress enacted bipartisan legislation creating PSLF to recognize the critical role public servants play in our communities and support them in their service. Under PSLF, people who dedicate at least 10 years of their careers to giving back to their communities – like teachers, firefighters, law enforcement officials, nurses, and servicemembers – can get relief on their student loans. However, the program was poorly implemented. Many public servants found out that they had spent years in the wrong student loan repayment plan or did not take out the right type of loan and were therefore ineligible for PSLF and denied forgiveness. Before the start of the Biden-Harris Administration, only 7,000 people had ever received forgiveness through PSLF and the rejection rate, in part due to administrative errors and difficult processes, was as high as 98% in some years. Public servants were also being told that, because they didn’t file the right forms years ago, there was nothing for them to do but keep paying their loans longer than the program requires.
Thanks to President Biden and Vice President Harris’ leadership, the Biden-Harris Administration has significantly improved the PSLF program to help more borrowers than ever before. This includes establishing and implementing new regulations to help borrowers earn more credit toward PSLF, simplifying criteria to help borrowers certify employment, creating fairer eligibility criteria, and providing borrowers the opportunity to apply for reconsideration of previous denials. The Biden-Harris Administration launched the Limited PSLF Waiver, providing public service workers affected by the pandemic with the opportunity to get PSLF credit for prior payments on their federal student loans regardless of repayment plan or loan type. To simplify the application process for borrowers, the Biden-Harris Administration made it so borrowers and employers can complete the entire PSLF application and submit required forms online, made it easier for borrowers to find qualifying employers and get necessary signatures verifying employment, and recently, announced new steps to allow borrowers to manage all aspects of their PSLF journey on StudentAid.gov.
Thanks to these improvements, as of today, over 1 million public service workers have been approved for debt cancellation through PSLF. The Department of Education today also released new state-by-state data showing how many borrowers have had their loans approved for cancellation under PSLF in each state under the Biden-Harris Administration.
Economic Benefits of Student Debt Relief for Public Service Workers
Today, the Council of Economic Advisers (CEA) published a new analysis underscoring that the Biden-Harris Administration’s student debt policies not only benefit borrowers, but also the entire economy.
The CEA highlights that PSLF has the potential to deliver considerable benefits to those who receive it – including the ability to buy a home, start a business, and improve overall financial health. In addition, the CEA analysis shows how the PSLF program strengthens the public sector by making it more feasible for students with postsecondary debt to pursue and remain in public service careers that are essential to our economy and communities.
Despite these benefits to the U.S. economy and hard-working Americans, Republican elected officials have tried to stop the Biden-Harris Administration every step of the way, and have even attempted to end PSLF altogether, which would block millions of dedicated public servants from receiving the student debt relief they have earned. President Biden and Vice President Harris will not stop fighting for our nation’s dedicated public servants.
Encouraging Public Servants to Take Advantage of the PSLF Program
Today, the Biden-Harris Administration is also announcing a series of new steps to encourage public servants across the nation to take advantage of the PSLF program.
A number of public sector unions, including the American Federation of State, County, and Municipal Employees (AFSCME), American Federation of Teachers (AFT), National Education Association (NEA), and the Service Employees International Union (SEIU), are amplifying today’s announcement through member-to-member outreach, social media campaigns, and more, and are encouraging people to sign up for PSLF:
AFT will be encouraging its members to sign up for student debt clinics to help members get on track with PSLF, with a goal of reaching another 500 teachers and nurses by the end of the year. This is on top of the 34,000 members AFT has reached since starting their student debt clinic series.
NEA will continue to help its members with the NEA Student Debt Navigator, a tool that provides 1-on-1 support for NEA’s members who need additional support with their PSLF application, or any other federal program related to student loans. Since the launch of the Student Debt Navigator, over 48,000 NEA members have signed up to receive support.
To celebrate this milestone, AFSCME will launch a new interactive map on its website, detailing PSLF forgiveness across the country based on Department of Education data. Additionally, AFSCME will update its online resources to facilitate applications for PSLF and create a social media toolkit its members can use to promote PSLF and forgiveness on their own social media platforms.
To encourage people to take advantage of the PSLF program, the Department of Education will send emails from President Biden to public servants who have received PSLF, encouraging them to share their stories to raise awareness about the benefits of the program. The Biden-Harris Administration will also share information about PSLF with federal employees to encourage more people to enroll in PSLF.
The Department of Education is reaching out to governors and mayors across the country to encourage state and local public service workers to take advantage of the PSLF program.
These new steps are in addition to previous actions by the Administration including working with over 15 major federal agencies to develop PSLF agency action plans. In implementing these plans, federal agencies have encouraged thousands of additional federal employees to take advantage of the PSLF program through extensive social media campaigns, principal-level engagement, engagement with stakeholder groups, press, and mass email communications.
Building On an Unparalleled Record of Student Debt Relief
Today’s announcement is part of the Biden-Harris Administration’s broader set of actions to reduce the burden of student debt and ensure that student loans are not a barrier to educational and economic opportunity for students and families. President Biden and Vice President Harris secured a $900 increase to the maximum Pell Grant award – the largest increase in more than a decade. Since taking office, the Biden-Harris Administration has approved through various actions $175 billion in student debt relief for nearly 5 million Americans, each of whom have been approved for an average of roughly $35,000 in student debt cancellation. These actions have benefitted borrowers in every state, territory, and congressional district in the United States.
This approved relief includes:
$74 billion for over 1 million borrowers through the PSLF program.
$56.5 billion for more than 1.4 million borrowers through Income-Driven Repayment, including the Saving on a Valuable Education SAVE plan. This includes administrative adjustments to income-driven repayment that brought borrowers closer to forgiveness and addressed longstanding problems due to past inaccuracies and the misuse of forbearance by loan servicers.
$28.7 billion for more than 1.6 million borrowers who were cheated by their schools, saw their institutions precipitously close, or are covered by related court settlements.
$16.2 billion for nearly 572,000 borrowers with a total and permanent disability.
Today, my Administration is approving another $4.7 billion in student debt cancellation for over 60,000 public service workers – bringing the total number of Americans who have had their debt cancelled under Public Service Loan Forgiveness during my Administration to over 1 million people.
Public service workers – teachers, nurses, firefighters, and more – are the bedrocks of our communities and our country. They dedicate their careers to giving back to others, and were given the promise of student debt forgiveness after 10 years of public service and 10 years of payments under the Public Service Loan Forgiveness program. But for too long, the government failed to live up to its commitments, and only 7,000 people had ever received forgiveness under Public Service Loan Forgiveness before Vice President Harris and I took office.
We vowed to fix that, and because of actions from our Administration, now over 1 million public service workers have gotten the relief they are entitled to under the law.
Today’s announcement comes on top of the significant progress we’ve made for students and borrowers over the past three years. That includes approving debt cancellation for nearly 5 million Americans across all our various debt relief actions; providing the largest increases to the maximum Pell Grant award in over a decade; fixing Income-Driven Repayment so borrowers get the relief they earned; and holding colleges accountable for taking advantage of students and families.
From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to make higher education affordable – no matter how many times Republican elected officials try to stop us.
SAN JOSE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) — Infinera (Nasdaq: INFN) and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms for Infinera to receive up to $93 million in direct funding as part of the bipartisan CHIPS and Science Act. This proposed direct funding, when combined with investment tax credits available under the CHIPS and Science Act, could result in more than $200 million in total federal incentives as well as potential state and local incentives.
This proposed funding would support the expansion and modernization of both Infinera’s semiconductor capabilities in Silicon Valley, California and its advanced test and packaging capabilities in Lehigh Valley, Pennsylvania, increasing the company’s existing domestic manufacturing capacity by an estimated factor of ten. Combined proposed funding for these two projects could create up to 1,700 manufacturing and construction jobs while strengthening America’s supply chain, economic and national security.
“We are grateful for the bipartisan efforts under the CHIPS and Science Act to increase semiconductor fabrication and packaging in the U.S. and protect our national and economic security,” said David Heard, Infinera CEO. “The proposed CHIPS funding will enable us to better secure our supply chain and compete more effectively with foreign adversary nations. Our unique photonic semiconductors address the increased demand for bandwidth from consumers while opening new markets inside the data center driven by the explosive growth in AI workloads.”
Infinera’s award of the proposed CHIPS funding would not have been possible without bipartisan support and partnerships with local, state and federal officials. This support is instrumental to the long-term success of these projects and the growth of advanced manufacturing in the U.S.
Infinera Investors: Amitabh Passi, Head of Investor Relations Tel. +1 (669) 295-1489 apassi@infinera.com
About Infinera Infinera is a global supplier of innovative open optical networking solutions and advanced optical semiconductors that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. Infinera solutions deliver industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications. To learn more about Infinera, visit http://www.infinera.com, follow us on X and LinkedIn, and subscribe for updates.
Infinera and the Infinera logo are registered trademarks of Infinera Corporation.
This press release contains forward-looking statements, including but not limited to statements regarding Infinera’s ability to secure CHIPS funding and investment tax credits, and the anticipated benefits of any such funding and tax credits. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about risks and uncertainties that affect Infinera’s business is contained in the risk factors section and other sections of Infinera’s Quarterly Report on Form 10-Q for the Fiscal Quarter ended June 29, 2024 as filed with the SEC on August 2, 2024, as well as any subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at http://www.infinera.com and the SEC’s website at http://www.sec.gov. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies and can be identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.
Skills passport enabling people to find new jobs in offshore wind goes live in 2025
17 October 2024
Joint RenewableUK and OEUK media release – Thursday 17th October 2024
A new scheme to help workers across the UK’s energy mix, including oil and gas, to find new roles in offshore wind will be launched in January by RenewableUK and Offshore Energies UK (OEUK), supported by the UK and Scottish Governments.
The Energy Skills Passport enables workers and employers to easily identify which qualifications and training standards, such as health and safety, are needed for specific roles in offshore wind. As part of the Energy Skills Passport, an interactive tool will provide clarity on which qualifications are mutually recognised across the sector to avoid any duplication of training courses, as well as mapping out potential career pathways. It will be managed jointly by OEUK and RenewableUK and will be available to a limited number of testers later this year before it is rolled out in full in the new year. The initial version focuses on the transition to offshore wind and future versions will include other parts of the energy sector.
The UK’s oil and gas sector supports over 200,000 jobs and the UK’s offshore wind industry already employs 32,000 people – that number is expected to rise to over 100,000 by 2030. Research commissioned by OEUK shows that 90% per cent of oil and gas industry workers have skills which can be transferred to future offshore jobs in renewable energy. Roles which may be suitable for workers to transfer into in offshore wind include maintenance technician, commissioning technician, high-voltage senior authorised person and troubleshooting technician.
RenewableUK’s Executive Director of Offshore Wind Jane Cooper said:
“The upsurge in offshore wind jobs over the course of this decade and beyond creates excellent opportunities for highly-skilled oil and gas workers to bring their valuable experience to the clean energy sector. We’re working closely with our colleagues at Offshore Energies UK, and the UK and Scottish Governments, to make that transition as smooth as possible across all parts of the energy industry. The Energy Skills Passport is a great example of what we can achieve together and we’ll continue to look for other potential areas of work that can further support the transition of workers between sectors.”
Offshore Energies UK’s Director of Supply Chain & People, Katy Heidenreich said:
“Collaboration is key to unlocking the full potential of the UK’s offshore energy sector so we are proud to be driving this initiative with RenewableUK. This industry and its people have proven excellence and a broad range of transferable skills from engineering and construction to legal and commercial expertise. This passport can help them succeed right across our diverse energy mix. This is one way the UK can back its workforce to build a homegrown energy transition that leaves no-one behind. It’s part of the toolkit this industry is assembling to partner with government to solve the challenges and seize the opportunities of our energy future.”
The Co-Chair of the Offshore Wind Industry Council Richard Sandford said:
“The Energy Skills Passport is a crucial step forward for workers to embrace opportunities in the offshore wind industry. It simplifies movement between essential offshore energy sectors, enabling workers to apply their knowledge to the energy transition. The milestone highlights effective collaboration between OEUK and RenewableUK, supported by the UK and Scottish Governments.”
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Notes
For further information, contact
RenewableUK’s members are building our future energy system, powered by clean electricity. We bring them together to deliver that future faster; a future which is better for industry, billpayers, and the environment. We support over 490 member companies to ensure increasing amounts of renewable electricity are deployed across the UK and to access export markets all over the world. Our members are business leaders, technology innovators, and expert thinkers from right across industry. RenewableUK’s events programme is available here.
Offshore Energies UK is the leading trade body for the UK’s offshore energies industry. Its membership includes over 400 organisations with an interest in offshore oil, gas, carbon capture and storage, hydrogen, and offshore wind. Working together with its members, it is a driving force supporting the UK in ensuring security of energy supply while helping to meet its net zero ambitions.
SINGAPORE, Oct. 17, 2024 (GLOBE NEWSWIRE) — Aurora Mobile Limited (Nasdaq: JG), recently showcased its no-code AI Bot development platform, GPTBots, and its global customer engagement platform, EngageLab, at eCommerce Expo Asia, part of Tech Week Singapore on October 9-10, 2024, held at the Marina Bay Sands Expo & Convention Centre. The event brought together industry giants such as Shopify, Amazon, Stripe, and TikTok, focusing on the latest trends in e-commerce, AI, and MarTech, with Aurora Mobile’s innovative solutions drawing significant attention from attendees.
As a comprehensive trade show, eCommerce Expo Asia provided a platform for in-depth discussions on the application of cutting-edge technologies such as artificial intelligence (AI) and marketing technology (MarTech) across various industries. GPTBots, Aurora’s no-code AI Bot platform, stood out at the event, engaging a diverse audience keen to explore practical AI applications in their businesses.
During the exhibition, attendees from different industries expressed unprecedented enthusiasm for AI technology, sharing their specific needs and pain points faced during their digital transformation journeys. GPTBots demonstrated its powerful capabilities in natural language processing, contextual understanding, and extensive customization, positioning itself as a valuable tool to solve these challenges.
Interest from Various Industries
Financial Services in Indonesia: Representatives from the Indonesian financial sector expressed keen interest in GPTBots’ ability to enhance customer support through intelligent automation. They believe that GPTBots can address the rigidity of existing bot systems by providing more efficient and secure financial services through accurate responses and on-premise deployment options.
Hospitality in Hong Kong: Clients operating a platform in Hong Kong that connects users with wedding venues and service providers were particularly impressed with GPTBots. They highlighted its potential to significantly enhance the accuracy, efficiency, and timeliness of resource matching. GPTBots can seamlessly connect users, suppliers, and hotels in real time, ensuring precise and efficient resource coordination. This not only improves the overall user experience but also optimizes supplier response times, driving greater operational efficiency.
System Integrators (SI): SI clients showed strong interest in using AI Bots to automatically organize customer inquiries into leads and seamlessly push them into CRM systems. GPTBots can process and categorize customer inputs in real time, offering seamless integration with CRM platforms, enabling comprehensive lead automation management.
Additionally, representatives from industries such as manufacturing, medical e-commerce, and event organizers praised GPTBots’ potential in areas such as automated product quality inspection, intelligent lead screening, platform integration, and inquiry management. Many attendees commented that GPTBots could bring transformative changes to their respective businesses.
Global Adoption and Empowering Enterprises Since its launch in September 2023, GPTBots has gained widespread recognition. As of July 31, 2024, the platform had over 60,000 registered users, including enterprises and developers, with more than 85% of its user base coming from overseas markets. GPTBots’ users span a wide range of sectors including e-commerce, real estate, finance, IT, healthcare, government, renewable energy, education, and eldercare. This achievement demonstrates the platform’s strong ability to help businesses achieve intelligent transformation.
About Aurora Mobile Limited Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation. For more information, please visit https://ir.jiguang.cn/.
Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.
Source: United Kingdom – Executive Government & Departments
Today (17 October 2024), the Charity Commission has published findings of its inquiry into Dar ul Uloom Islamia Rizwia (Bralawai).
The regulator found the trustees were responsible for misconduct and/or mismanagement but following the Commission’s intervention, they have taken positive steps to address failures and weaknesses in how the charity operated.
The charity provides a place of worship, religious teachings, community services and also operates an educational centre for the benefit of the local community of Small Heath, Birmingham.
In 2019, a safeguarding incident occurred at the charity’s education centre, prompting the regulator to open a compliance case. During this period, the trustees temporarily closed the education centre. The Commission found that the charity had no safeguarding policies in place at the time of the incident, constituting a serious breach of duty. As a result, it provided the trustees with detailed regulatory advice and guidance, requiring them to implement safeguarding measures before reopening the centre.
In November 2021, the regulator escalated its engagement to a statutory inquiry after carrying out a monitoring inspection which found the charity had reopened its education centre without implementing appropriate safeguarding measures. The Commission’s regulatory advice had not been sufficiently followed. The charity attempted to reopen again without complying in 2022, which amounted to misconduct and/or mismanagement. In light of the continued failures, the Commission used its powers to appoint an Interim Manager to undertake a governance review.
The inquiry identified several regulatory issues, most of which were the result of a poor practice around implementing and following the charity’s own governance policies. This included policies on social media use, conflicts of interest and safeguarding. Additionally, the charity failed to file its accounts for financial years ending in March 2019 and 2020 – all of which amounted to misconduct and/or mismanagement.
The charity’s failure to use or complete its draft social media policy contributed to the issuing of multiple inappropriate social media posts by trustees and staff which resulted in the charity receiving negative media attention. The Commission considered this as part of its inquiry and determined the trustees’ failure to have oversight or appropriately manage risks amounted to misconduct and/or mismanagement. The posts have since been deleted and an apology was issued at the time.
During the inquiry, the Commission made an Order to direct the trustees to take specified action to address these issues and to improve best practice around governance.
Following this intervention, the trustees closed the education centre again and took steps to address the concerns. They provided evidence that staff Disclosure and Barring Service (DBS) checks had been carried out, that safeguarding practices had been reviewed and implemented, and that safeguarding leads had been appointed.
The trustees have now evidenced their use and adherence to a robust social media policy, drafted in line with regulatory guidance, and the charity’s accounts have since been brought up to date. Further positive steps have been taken by trustees to adopt all recommendations made by the Interim Manager and they have evidenced their use of the regulator’s advice and guidance. In light of this progress, the Commission has now concluded its inquiry.
Joshua Farbridge, Head of Compliance Visits and Inspections at the Commission, said:
Our inquiry found a number of regulatory concerns and several instances of misconduct and/or mismanagement but the trustees have taken significant steps to improve how the charity operates.
We are now closing our inquiry with the expectation that the current trustees will continue to make necessary changes to help ensure this charity is providing a safe and trusted environment for all.
This case demonstrates how important it is for all trustees to agree and use their charity’s internal policies. Failing to do so can leave a charity and those it serves at risk.
The inquiry report detailing the Commission’s full findings can be found on gov.uk.
Notes to editors:
The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society. Find out more: About us – The Charity Commission
A scheme aimed at reducing congestion and improving public transport and active travel has had its most recent phase completed.
The A457 Dudley Road Improvement Scheme will deliver significant improvements in network capacity and public transport, in addition to upgraded facilities for pedestrians and cyclists along the A457 corridor.
It will also support the city’s growth objectives within the Greater Icknield area.
Phase two has now been completed with a plaque installed next to the new Spring Hill bridge.
Cllr Majid Mahmood, cabinet member for transport and environment, said: “This summer, Birmingham City Council declared a road safety emergency. People have died as a direct result of dangerous driving across our city, and this must end.
“We’re taking action, including working with the police and the mayor to increase the number of average speed cameras across the city, and reducing the speed limit from 40 to 30 miles per hour on our major roads.
“We can’t just police our way out of this though. For too long, our roads have been designed with a driver-first attitude, and in order to make our roads safer, this must change.
“So it is important to highlight the completion of the latest phase of work to make the Dudley Road safer, including the development of dedicated walking and cycling lanes, improved priority for buses, reduced congestion and ultimately safer roads.”
The scheme is funded via central government levelling up money.
West Midlands Chief Constable Craig Guildford said: “Since the summer, I have chaired a gold group around road safety bringing together the local authorities and the combined authority to work collectively for safer roads. We must all work in partnership to bring down the number of collisions that result in fatalities or serious injuries.
“At WMP, we have made the biggest reinvestment in roads policing in a generation. We’ve increased the teams who target the causes of collisions as well as the teams that tackle criminal use of our roads.
“We are more determined than ever to achieve Vision Zero. But we need the help of every road user to achieve it.”
Richard Parker, Mayor of the West Midlands, said: “Cycle lanes and bus lanes, like those on Dudley Road, help reduce traffic and pollution, making our streets cleaner and safer for the community.
“I’m also working closely with the police and councils on a new road safety plan, which will introduce even more ways to make sure people can travel safely across the region.
“Alongside this, we’re expanding key routes like the cross-city bus service from Birmingham to Dudley and growing our network of cycle paths to help even more people get around safely and easily.”
Note to editors about the first two phases –
Phase 1 – Western Road junction, was completed in May 2022, which improved capacity and pedestrian facilities at the junction and facilitated the delivery of and access to approximately 3,000 new homes at the Soho Loop development, along with new local facilities and employment opportunities.
Phase 2 – Spring Hill, Barford Estate and Heath Street / Winson Green Road sections, completed in August 2024 and delivered tidal flow bus lanes and a new bus lane enforcement camera, new segregated cycle lanes, footway and pedestrian crossing upgrades, including the introduction of a new shared use foot / cycle bridge adjacent to the existing Spring Hill canal bridge.
Source: United Kingdom – Executive Government & Departments
This report was issued in October 2024 and covers the time period 1 September 2024 to 30 September 2024 inclusive.
Summary
September saw a higher number of general collision risks than the usual monthly average, the vast majority of which were very low probability. We saw a reduced number of re-entry and space weather events and we expect these re-entry numbers to continue to reduce from the high we saw in August. All NSpOC warning and protection services functioned as expected throughout the period.
Uncontrolled Re-Entry Early Warning
This month saw 50 re-entering objects; a reduction in the number of objects re-entering Earth’s atmosphere compared to August, when the numbers were particularly high due to planned re-entry campaigns. Re-entered objects of note included the Polaris Dawn trunk re-entry on 29 September which re-entered over the Atlantic Ocean. This trunk was from the crewed Polaris Dawn mission launched earlier in the month taking 4 astronauts to complete the first private spacewalk.
Chart showing number of re-entries monitored by month. January: 13, February: 24, March: 25, April: 22, May: 56, June: 48, July: 44, August: 89, September: 50
In-Space Collision Avoidance
We warned UK-licensed satellite operators of 3,041 potential collision risks in September representing a 42% increase on August. Heightened solar activity and multiple operators in similar orbits might have contributed to the increase in risks. Our warnings allow operators to take critical collision avoidance decisions.
Chart showing number of collision risks to UK-licensed satellites monitored by month. January: 1,690, February: 1,943, March: 1,903, April: 1,899, May: 2,560, June: 1,881, July: 1,795, August: 2,137, September: 3,041
Fragmentation incidents
NSpOC has been monitoring the Atlas 5 Centaur rocket body break-up. Objects are still being analysed but we expect the debris count to be over 20 objects.
Space weather
Below is a summary of the key space weather events during this reporting period.
September – A moderate radiation storm occurred on 9 September where satellites may have experienced a modest increase in single event upsets to electronic systems.
12 September – Two coronal mass ejections (CMEs) arrived on 12 September, leading to a moderate geomagnetic storm with possible impacts to satellites.
14-16 September – A Strong wide-area blackout affected the sunlit side of Earth on 14 September, with the subsequent CME arriving at Earth late on 16 September producing a strong geomagnetic storm and an associated moderate radiation storm. Satellites may have again experienced a modest increase in single event upsets to electronic systems.
30 September – A moderate solar flare occurred which may have slightly impacted satellite communications on the sunlit side.
You can find more information on space weather and NSpOC here.
Number of Objects in Space
There was a total increase of 571 registered space objects during September which was slightly lower than in August. Just over 300 of these objects were additional debris pieces catalogued from the LM-6A (CZ-6A) fragmentation which occurred at the beginning of August.
Additionally, SpaceX deployed a further 82 Starlink satellites during September.
Note that numbers in the registered space objects catalogue can fluctuate over time as data is continually verified.
Chart showing number registered space objects by month. January: 28,014, February: 28,172, March: 28,478, April: 28,752, May: 28,850, June: 28,931, July: 28,917, August: 29,297, September: 29,678
Comments
The National Space Operations Centre combines and coordinates UK civil and military space domain awareness capabilities to enable operations, promote prosperity and protect UK interests in space and on Earth from space-related threats, risks and hazards.
A joint initiative by companies and institutions based in and around Frankfurt’s Bahnhofsviertel – the district surrounding its central railway station – intends to help improve the difficult situation in the area. Known as the BHV corporate initiative (BHV being an acronym for Bahnhofsviertel), it aims to make a positive contribution to the district and support selected social projects through constructive dialogue with the city. Representatives of the participating companies presented the initiative at a joint event today with Frankfurt’s mayor Mike Josef. Speaking at the K9 advice centre, one of the welfare facilities to receive financial support from the BHV corporate initiative, they reaffirmed their commitment to the district and called for further intensive efforts to find solutions to the area’s problems.
Mayor Josef highlighted the following: When I took office one and a half years ago, a particularly important topic was the situation in the station district. And it remains so to this day. The many meetings I have had over the past few months have included conversations with companies, their representatives and employees based in or near the station district. It has become clear that the situation in the district needs to change. He went on to say: I am pleased that many conversations have been very constructive. With the BHV corporate initiative, several companies and institutions have decided to provide financial support to social facilities in the station district. I would like to take this opportunity to express my sincere thanks for this.
We have joined forces in a cross-sectoral initiative to improve the situation in the station district for people who spend time here for a multitude of different reasons. We want to achieve this by supporting tangible projects, said Stephan Bredt, chief operating officer at the Bundesbank, one of the institutions bringing ideas to the joint initiative. The Bundesbank, which has offices in and around the station district, is happy to contribute to its success by getting involved and providing good ideas. We see ourselves at the beginning of a long-term undertaking and invite other interested parties to join in.
The BHV corporate initiative, which currently comprises eleven companies and institutions with around 26,000 employees in and around the station district, is supporting various aid projects for people in need. Indirectly, these may also help to improve the district’s appearance. In a first step, the initiative will support four facilities in the district with funding of €100,000 each:
The K9 advice centre for projects that help people with drug addiction regain a foothold in labour market;
La Strada drug help centre to extend and renovate its community café and drug consumption rooms and expand its provision of medical care;
The night café on Moselstrasse to provide warm meals for people battling addiction;
Malteser Werke to expand their emergency medical service in the district as part of their proactive social work.
As a gateway to the city, the station district has great economic, cultural and social potential. In order to harness this, the current problems need to be tackled on a lasting basis, said Christian Sewing, CEO of Deutsche Bank, speaking on behalf of the companies involved. We welcome the initiative of the mayor and the municipal administration of Frankfurt to develop and implement forward-looking solutions for the station district. It is important that initial improvements are now quickly followed by further tangible steps. As corporate citizens, we want to exercise our social responsibility and make an active contribution to improving the situation and unlocking the district’s full potential.
The participants of the BHV initiative are making a long-term commitment. In addition to the specific financial support to social facilities provided by the companies involved, the initiative aims to liaise closely with the city on the progress made in the district. Moreover, participants are harnessing the initiative to improve the exchange of information with regard to the challenges and opportunities in the district. Other companies and institutions that would like to get involved are welcome to join at any time.
Current participants
Bank of America
Deutsche Bundesbank
Deutsche Bank
Deutsche Vermögensberatung
DWS
DZ Bank
Frankfurter Volksbank Rhein-Main
Helaba
Merz Pharma
Momeni Group
Nestlé Deutschland
The Government announced today the establishment of the Task Group on New Medical School, which is responsible for devising the direction and parameters for a new medical school.
The task group intends to extend invitation of proposals within this year to local universities interested in establishing the new medical school, so as to select a suitable university for setting up the third medical school.
The Chief Executive stated in the 2024 Policy that the Government supports the establishment of the third medical school by a local university to nurture more talented medical practitioners in support of the local healthcare system with the aim of providing quality service and driving Hong Kong’s development into an international medical training, research and innovation hub.
The Task Group on New Medical School’s terms of reference include liaising with interested local universities, inviting and assessing proposals from them, handling matters including but not limited to funding arrangements, programme accreditation, teaching hospital and research support, and formulating recommendations on the new medical school and related arrangements for decision by the Chief Executive in Council.
The task group’s other terms of references call for liaising with the university selected for the establishment of the new medical school on the implementation plan, and providing facilitation on the interim and long-term arrangements for a designated school campus and teaching hospital in consultation with the relevant government bureaus and departments.
Both the Secretary for Education and Secretary for Health are co-chairmen of the Task Group on New Medical School.
Secretary for Health Prof Lo Chung-mau said the establishment of the third medical school is an important project in developing medical education in Hong Kong to drive the pursuit of excellence in medical teaching and research in the city.
“I hope the new medical school could pursue an innovative strategic position complementarity with the two existing ones in areas such as the medical curriculum, sources of students and research projects with a view to promoting diversified development in local medical education and research as well as attracting more local, Mainland and overseas medical talent to take up teaching and research duties.”
Noting that the Government attaches significant importance to the establishment of the new medical school, Prof Lo stressed that it has in particular invited seasoned local, Mainland and overseas academics for medical teaching and university management, professionals, the President of the Academy of Medicine and Chairman of the Medical Council of Hong Kong, together with heads of relevant bureaus and departments to form the task group.
The health chief added that the task group will holistically examine various factors when considering proposals submitted by universities, including the strategic position of the medical school, curriculum design, student recruitment arrangement, demand and supply of teaching and training manpower, facilities and financial resources required.
“I sincerely look forward to working closely with all members of the task group to start a new chapter for medical education in Hong Kong. Our first target is to extend invitation of proposals within this year to local universities interested in setting up the new medical school.”
From tackling climate emergencies to rising geopolitical tensions and the accelerating infodemic, how can global collaboration safeguard economic growth while addressing today’s complex risks?
Improving statistical capacity in various areas of climate change relies on collaboration among governments, international development and research organizations, academia, and the private sector to foster innovation and the exchange of knowledge.
By pooling resources and expertise, new capacity building initiatives can drive the development of best practices in the compilation of climate change data and statistics, ensuring national statistics offices have the latest and most powerful statistical tools and methodologies at their disposal. Through these collaborative efforts, national statistics offices will be better positioned to contribute effectively to global climate action, bolstering efforts to mitigate and adapt to the impacts of a changing climate.
ADB’s survey on the compilation of climate change statistics in Asia and the Pacific suggests that such collaboration is already underway among national statistics offices in member economies. Eighteen national statistics offices reported collaborating with other government agencies, sectors, or international organizations to address data gaps in statistics related to climate change. Other actions commonly taken by national statistics offices included use of administrative and big data and improvements to data infrastructure.
Figure 4. Measures Taken by National Statistics Offices to Address Data Gaps on Climate Change
NSO = national statistics office. Source: Asian Development Bank analysis using data from the bank’s 2024 Climate Change Data Granularity and Statistical Capacity Building Survey.
Support provided by more advanced national statistics offices to their peers with fewer resources can also help build capacity and promote the exchange of best practices, ultimately contributing to the development of robust climate change statistics programs across Asia and the Pacific.
The survey showed that six of the 29 national statistics offices respondents in Asia and the Pacific indicated that they had provided support related to climate change statistics to other economies, either directly (three of six) or through associated organizations (four of six). Feedback from the six economies that provided support states that the most common types of assistance were for capacity building and project proposals. Other types of support included short-term assistance, provision of experts, and support on acquisition of technological and/or digital infrastructure and equipment.
The UK has today unleashed the largest package of sanctions to date against Putin’s shadow fleet of oil tankers.
Fresh sanctions unleashed against 18 Russian oil tankers and 4 liquified natural gas tankers – the largest sanctions action to date against Putin’s shadow fleet.
The Foreign Secretary continues his personal mission to crack down on the full spectrum of Russian malign activity.
The US and Canada sign up to the shadow fleet ‘Call to Action’ launched by UK Prime Minister Keir Starmer in July, bringing the total number of signatories to 47.
The UK has today unleashed the largest package of sanctions to date against Putin’s shadow fleet of oil tankers.18 more shadow fleet ships will be barred from UK ports and unable to access world-leading British maritime services, bringing the total number of oil tankers sanctioned to 43.
The shadow fleet seeks to undermine sanctions and poses a clear and present danger. Environmental risks, such as oil spills, on our coastlines as a result of its flagrant violation of basic safety standards, but also risks to the security of global trade – the lifeblood of economic growth.
At the European Political Community Summit in July, the Prime Minister announced the shadow fleet call to action. Today the US and Canada have joined 44 European countries plus the EU in working together to tackle the risks posed by the shadow fleet.
The UK’s relentless action against the shadow fleet is putting grit into the system and starving Putin’s war machine of crucial revenues. The oil tankers targeted today have transported an estimated $4.9 billion in the last year alone. A significant number of the ships targeted by the UK to date have been forced to sit idling uselessly outside ports across the world, unable to continue pouring money into Putin’s war chest.
Sovcomflot, Russia’s largest shipping company, has been left desperately scrambling to rename and offload its vessels to dodge UK sanctions. Today we have targeted even more of its ships, further turning the screw on the mechanisms the Kremlin uses to fund its illegal war.
Alongside action against the shadow fleet, the UK is sanctioning 4 more LNG tankers and Russian gas company Rusgazdobycha JSC. We are continuing to ratchet up pressure on the beleaguered Russian gas industry, with flagship company Gazprom posting a significant net loss of $6.9 billion in 2023 – its first annual loss in more than 20 years.
Foreign Secretary, David Lammy said:
We must combat malign Russian activity at every turn, whether illicit tactics to bolster Putin’s war chest, their use of cyber-attacks or barbarism on the front line in Ukraine.
The UK is leading the charge against Putin’s desperate and dangerous attempts to cling on to his energy revenues, with his shadow fleet placing coastlines across Europe and the world in jeopardy.
I have made it my personal mission to constrain the Kremlin, closing the net around Putin and his mafia state using every tool at my disposal.
This new shadow fleet package comes in the weeks following recent UK actions to sanction both Russian cyber-crime gang Evil Corp, and Russian troops found to be using chemical weapons on the front lines in Ukraine. It represents the latest in a drumbeat of activity, with each package designed to target a distinct aspect of Russia’s malign behavior and reinforce the UK’s commitment to global security and the rule of law.
Background
Sanctioned today are:
NS BORA (IMO 9412335)
ATLAS (IMO 9413573)
MOSKOVSKY PROSPECT (IMO 9511521)
NS ARCTIC (IMO 9413547)
CALLISTO (IMO 9299692)
SCF BAIKAL (IMO 9422457)
SCF SAMOTLOR (IMO 9421972)
SUVOROVSKY PROSPECT (IMO 9522324)
EASTERN PEARL (IMO 9285859)
KUDOS STARS (IMO 9288710)
SEA FIDELITY (IMO 9285835)
STRATOS AURORA (IMO 9288708)
TURBO VOYAGER (IMO 9299898)
AZURE CELESTE (IMO 9288722)
VARUNA (IMO 9332810)
SAI BABA (IMO 9321691)
ARTEMIS (IMO 9317949)
ANTAEUS (IMO 9299733)
MARSHAL VASILEVSKIY (IMO 9778313)
VELIKIY NOVGOROD (IMO 9630004)
MULAN (IMO 9864837)
EVEREST ENERGY (IMO 9243148)
RUSGAZDOBYCHA JSC
Today’s announcement comes as the United States and Canada have united in support of the European Political Community (EPC) Call to Action , demonstrating their shared determination to address the risks that the shadow fleet poses to the environment, maritime safety and security in Europe and beyond, the integrity of international seaborne trade, and respect for international maritime law.
Separately, the UK is taking steps to combat malign, Russian-backed maritime activity near the UK:
The Department for Transport is working alongside the Joint Maritime Security Centre (JMSC) and the Maritime and Coastguard Agency (MCA) to challenge shadow fleet vessels with suspected dubious insurance to provide details of their insurance status as they pass through the English Channel.
Any actor that facilitates and supports Russia’s malign activities could be exposing themselves to sanctions
Ships specified under the Russia (Sanctions) (EU Exit) Regulations 2019 are prohibited from entering a port in the UK, may be given a movement or a port entry direction, can be detained, and will be refused permission to register on the UK Ship Register or have its existing registration terminated. In addition, the Oil Price Cap exception is not applicable to services in relation to specified ships, or to the supply or delivery of Russian oil or oil products in specified ships
The Office for Financial Sanctions Implementation has published guidance on the Russian Oil Services ban. Limited exceptions apply and licences may be granted for specified ships, as set out in Part 7 of the Russia (Sanctions) (EU Exit) Regulations 2019
A letter form the Social Security Advisory Committee’s (SSAC’s) Chair to Secretary of State for Work and Pensions about Winter Fuel Payments in England and Wales from Winter 2024 to 2025, and the European Economic Area and Switzerland for winter 2024 to 2025.
The Social Security Advisory Committee considers it essential that the Department for Work and Pensions takes every reasonable step to ensure that all those eligible for a Winter Fuel Payment are supported in accessing it in a timely manner and accordingly provides a number of observations and recommendations for the Secretary of State to consider.
A joint initiative by companies and institutions based in and around Frankfurt’s Bahnhofsviertel – the district surrounding its central railway station – intends to help improve the difficult situation in the area. Known as the BHV corporate initiative (BHV being an acronym for Bahnhofsviertel), it aims to make a positive contribution to the district and support selected social projects through constructive dialogue with the city. Representatives of the participating companies presented the initiative at a joint event today with Frankfurt’s mayor Mike Josef. Speaking at the K9 advice centre, one of the welfare facilities to receive financial support from the BHV corporate initiative, they reaffirmed their commitment to the district and called for further intensive efforts to find solutions to the area’s problems. Mayor Josef highlighted the following: When I took office one and a half years ago, a particularly important topic was the situation in the station district. And it remains so to this day. The many meetings I have had over the past few months have included conversations with companies, their representatives and employees based in or near the station district. It has become clear that the situation in the district needs to change. He went on to say: I am pleased that many conversations have been very constructive. With the BHV corporate initiative, several companies and institutions have decided to provide financial support to social facilities in the station district. I would like to take this opportunity to express my sincere thanks for this. We have joined forces in a cross-sectoral initiative to improve the situation in the station district for people who spend time here for a multitude of different reasons. We want to achieve this by supporting tangible projects, said Stephan Bredt, chief operating officer at the Bundesbank, one of the institutions bringing ideas to the joint initiative. The Bundesbank, which has offices in and around the station district, is happy to contribute to its success by getting involved and providing good ideas. We see ourselves at the beginning of a long-term undertaking and invite other interested parties to join in. The BHV corporate initiative, which currently comprises eleven companies and institutions with around 26,000 employees in and around the station district, is supporting various aid projects for people in need. Indirectly, these may also help to improve the district’s appearance. In a first step, the initiative will support four facilities in the district with funding of €100,000 each: The K9 advice centre for projects that help people with drug addiction regain a foothold in labour market; La Strada drug help centre to extend and renovate its community café and drug consumption rooms and expand its provision of medical care; The night café on Moselstrasse to provide warm meals for people battling addiction; Malteser Werke to expand their emergency medical service in the district as part of their proactive social work. As a gateway to the city, the station district has great economic, cultural and social potential. In order to harness this, the current problems need to be tackled on a lasting basis, said Christian Sewing, CEO of Deutsche Bank, speaking on behalf of the companies involved. We welcome the initiative of the mayor and the municipal administration of Frankfurt to develop and implement forward-looking solutions for the station district. It is important that initial improvements are now quickly followed by further tangible steps. As corporate citizens, we want to exercise our social responsibility and make an active contribution to improving the situation and unlocking the district’s full potential. The participants of the BHV initiative are making a long-term commitment. In addition to the specific financial support to social facilities provided by the companies involved, the initiative aims to liaise closely with the city on the progress made in the district. Moreover, participants are harnessing the initiative to improve the exchange of information with regard to the challenges and opportunities in the district. Other companies and institutions that would like to get involved are welcome to join at any time. Current participants Bank of America Deutsche Bundesbank Deutsche Bank Deutsche Vermögensberatung DWS DZ Bank Frankfurter Volksbank Rhein-Main Helaba Merz Pharma Momeni Group Nestlé Deutschland
Source: United Kingdom – Executive Government Non-Ministerial Departments
The Competition and Markets Authority (CMA) has published its response to Consumer Scotland’s call for information, as part of Consumer Scotland’s review of consumer protection frameworks in the market for energy efficiency and low carbon heating products.
The CMA has published its response to Consumer Scotland’s call for information, as part of Consumer Scotland’s review of consumer protection frameworks in the market for energy efficiency and low carbon heating products.
Our response was informed by our own review of consumer protection in the UK green heating and insulation sector. It focuses on our key findings and recommendations, and our further work to build additional consumer confidence.
We will continue to co-operate with Consumer Scotland as its investigation progresses.
Pictured at the recent Hate Crime Conference are: Back Row: Temporary /Superintendent Sue Steen MBE, Vishal Bedi, Ethnic Minority Police Association, Michael Avila, Hate Crime Advocacy Service, Adam Corner, Temporary Chief Inspector, Sgt Sinead Loughlin, Annette Blaney, PCSP Project Coordinator. Front Row: Patricia Gibson, PCSP Manager, Junior Minister Aisling Reilly, Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Sarah Duffy, Geraldine Hanna, Commissioner Designate for Victims of Crime for Northern Ireland and Ruth Allen, Head of Community Development.
A hard-hitting conference to raise awareness of Hate Crime was held recently at Craigavon Civic and Conference Centre – and left a huge impact on those in attendance.
Attended by Minister Aisling Reilly, the ‘Put Yourself in their Shoes’ event gave voice to a number of guest speakers from a variety of walks of life, who shared their very personal experiences of being a victim of Hate Crime.
Organised in partnership with Armagh, Banbridge & Craigavon Policing & Community Safety Partnership (PCSP) and Victim Support NI, this event also focused on the Victim Support NI Hate Crime Manifesto which highlights how statutory, community and private sector partners can work collaboratively to improve support to victims and curb hate in society.
“Hate Crime incidents are something we unfortunately now hear about on an almost daily basis and everyone should be able to live a life free from fear and isolation,” commented the Lord Mayor of Armagh City, Banbridge and Craigavon Councillor Sarah Duffy.
“The individuals who spoke today were incredibly brave to share their story to help raise awareness of Hate Crime, and really made us all think about how we would feel if we were on the receiving end of it.”
Hate Crime is the perpetrator’s hostility or prejudice against any person or property on the grounds of the victim’s ethnicity, sexual orientation, gender identity, religion, political opinion or disability – and these incidents have continued to rise in Northern Ireland over the past decade.
“This conference was really informative and helped to increase awareness and understanding about Hate Crime and in particular, really opened our eyes to the hate incidents that people have experienced in our communities,” commented Alderman Mark Baxter, Chair of the PCSP.
“We would encourage everyone to report any incidents of Hate Crime and to never be afraid to speak out against it. We all need to tackle this together.”
To report a Hate Crime please contact the Police on 101 or online https://www.psni.police.uk/report You can also call Crimestoppers on 0800 555 111 with complete anonymity.
This event was part funded by Armagh City, Banbridge and Craigavon Borough Council and The Executive Office.
Pictured at the recent Hate Crime Conference are Ruth Allen, Head of Community Development, Patricia Gibson, PCSP Manager, Junior Minister Aisling Reilly, Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Sarah Duffy and Geraldine Hanna, Commissioner Designate for Victims of Crime for Northern Ireland.
Pictured at the recent Hate Crime Conference are Ruth Allen, Head of Community Development, Vishal Bedi, Ethnic Minority Police Association, Patricia Gibson, PCSP Manager, Junior Minister Aisling Reilly, Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Sarah Duffy, Michael Avila, Hate Crime Advocacy Service and Geraldine Hanna, Commissioner Designate for Victims of Crime for Northern Ireland.
SAN DIEGO, Oct. 17, 2024 (GLOBE NEWSWIRE) — Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced the official launch of the BeamWell™ water desalination and e-mobility delivery system. This solution is designed to address critical needs for clean drinking water, mobility and electricity in regions facing humanitarian crises.
The BeamWell™ product is based on the patented EV ARC™ system and is a self-sufficient, self-contained operational system for use in war zones and remote or disaster areas where only salt, brackish or dirty water is available because a reliable clean water supply is not available or has been interrupted. The BeamWell™ system provides three essential services to regions in crisis: it turns seawater into fresh water, which is then stored in an integrated 3000-liter tank that is replenished daily; it provides a source of electricity which can be used for medical or communications devices as well as cooking and lighting; and it charges four integrated and bundled Benzina Zero electric mopeds for the rapid distribution of food, water, medications or other vital resources, to those in need.
“We are living in unprecedented times when wars and natural disasters such as the recent hurricanes in the U.S. are becoming commonplace,” said Desmond Wheatley, CEO of Beam Global. “At the same time 40% of the world’s population lives by the sea and in areas which are most prone to natural disasters. By providing a container-transportable, rapidly deployed, off-grid power source paired with desalination and e-mobility, we are addressing three of the most essential needs in crisis situations: clean water, reliable power and the means to distribute aid. Beam Global is on a mission to make a real difference in the lives of those who are suffering.”
Enabled by Beam Global’s patented EV ARC™ platform, the BeamWell™ system is completely self-contained, shipping-container-transportable, and deploys in minutes with no construction, no electrical work and no requirement for any supporting infrastructure. It can be relocated as water supply challenges fluctuate. Beam Global EV ARC™ technology, which has already been successfully deployed thousands of times worldwide, uses patented tracking solar technology to generate and store clean energy for e-mobility. The BeamWell™ solution will also use this renewable energy to desalinate water and provide power and a means of delivering aid.
Recent estimates suggest around 60 million people in the Middle East and North Africa (MENA) lack access to clean and safe drinking water. As of October 2024, the water crisis in Gaza is severe, with nearly 2.3 million residents facing restricted access to clean water due to the ongoing conflict and damage to water infrastructure. This lack of access to clean water is contributing to a public health crisis, as waterborne diseases are spreading rapidly. Aid deliveries have included water, but the quantities are grossly insufficient to meet the needs of the entire population, and many organizations are having trouble providing continued support throughout the region during the prolonged conflict.
Beam Global is finalizing deployment plans, with the first BeamWell™ systems expected to be delivered to the Middle East through global aid organizations as soon as possible. This U.S.-based company’s collaboration with governments, NGOs and other international partners represents a significant step toward addressing urgent needs in regions affected by conflict and humanitarian crises.
For more information on the BeamWell™ water treatment system contact the Beam Team at BeamTeam@BeamForAll.com.
About Beam Global
Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Headquartered in San Diego with facilities in Chicago, Belgrade and Kraljevo, Beam Global has a deep patent portfolio and is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube and X (formerly Twitter).
Forward-Looking Statements
This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.
Source: Hong Kong Government special administrative region
A spokesman for the Department of Justice (DoJ) said that the four-day Fifth Session of the Elaboration of the Convention on the Establishment of The International Organization for Mediation concluded in Hong Kong today (October 17). Representatives from various countries completed negotiations on the Convention at the session and decided that the signing ceremony for the Convention will be held in Hong Kong in 2025.
The International Organization for Mediation (IOMed) will be the world’s first intergovernmental international legal organisation dedicated to resolving international disputes through mediation, aiming to realise win-win co-operation between disputing parties. The IOMed is important for the implementation of settling international disputes by peaceful means as stipulated in the Charter of the United Nations and offers a new option to all countries for peaceful resolution of international disputes.
Following the signing of the Joint Statement on the Future Establishment of The International Organization for Mediation by China and other like-minded countries in 2022, the International Organization for Mediation Preparatory Office was established in the Hong Kong Special Administrative Region (HKSAR) in February 2023 to co-ordinate the conclusion of negotiations on the Convention.
The spokesman for the DoJ said, “The establishment of the IOMed headquarters in Hong Kong demonstrates the city’s unique advantages and opportunities in international mediation. Through important initiatives such as establishing the IOMed Preparatory Office in the HKSAR, completing the negotiations on the Convention, and facilitating the consensus among different parties on situating the future IOMed headquarters in Hong Kong, the Central People’s Government demonstrates its staunch support to HKSAR in establishing the city as a centre for international legal and dispute resolution services in the Asia-Pacific region under the National 14th Five-Year Plan. Upon its establishment, the IOMed will provide friendly, flexible, economical and efficient mediation services, thereby building Hong Kong as a capital for international mediation.”
The spokesman said that the IOMed Preparatory Office will continue to perform the function as the IOMed’s interim secretariat until the IOMed is formally established.
MILES AXLE Translation. Region: Russian Federation –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Deputy Prime Minister Marat Khusnullin held a meeting of the presidium (headquarters) of the Government Commission on Regional Development, where they discussed the results of work over nine months, as well as the main approaches to the implementation of the new national project “Infrastructure for Life” and key tasks for further work.
Marat Khusnullin held a meeting of the Presidium of the Government Commission on Regional Development
October 17, 2024
Marat Khusnullin held a meeting of the Presidium of the Government Commission on Regional Development
October 17, 2024
Dmitry Chernyshenko at a meeting of the Presidium of the Government Commission on Regional Development
October 17, 2024
Dmitry Chernyshenko at a meeting of the Presidium of the Government Commission on Regional Development
October 17, 2024
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Marat Khusnullin held a meeting of the Presidium of the Government Commission on Regional Development
“Based on the preliminary results of the work, we see positive dynamics. In total, since 2020, the volume of work in construction has grown by more than 30%, including almost 3% this year. More than 118 million square meters of housing are currently under construction. About 81 million square meters were commissioned in nine months. Urban development potential has grown by 12% since the beginning of the year – to 472 million square meters. We are also moving at a good pace in road construction. Thus, this year, more than 80 km of regional and local roads have already been built and reconstructed, about 3.6 thousand km have been repaired, including major repairs. Within the framework of the national project “BKD”, 95 million out of 108 million square meters of the top layer of the pavement were laid. I would like to note that this year we are completing the implementation of the national projects “Housing and Urban Environment” and “Safe High-Quality Roads”, so I would like to draw attention to the need to achieve the set goals in full. Their continuation will be the national project “Infrastructure for Life”. We are completing its preparation. We are also working to clarify the rules of the resettlement program from dilapidated housing. We have less than three months left until the end of the year. As a rule, it is during these months that the bulk of the commissioning of facilities occurs, so I ask the regional teams to speed up the pace of work and successfully complete all planned projects and tasks,” said Marat Khusnullin.
The participants also discussed the implementation of national projects and federal programs. The Deputy Prime Minister noted the regions that are leaders in meeting the indicators. Among them are the Chechen Republic, Penza Region, the Republic of Adygea, Nizhny Novgorod, Moscow, Kursk Regions, the Republics of North Ossetia-Alania, Bashkortostan, Tatarstan, Voronezh Region, Kabardino-Balkarian, Chuvash Republics, Orenburg, Kostroma Regions.
The meeting also discussed in detail the implementation of road activities. Marat Khusnullin congratulated the participants on the upcoming Road Workers’ Day and thanked them for their productive work.
In addition, they raised pressing issues regarding the implementation of the large-scale project “Five Seas and Lake Baikal”, which is being implemented on the instructions of the President in nine regions of the country.
Deputy Prime Minister Dmitry Chernyshenko focused on the development of regions where year-round seaside resorts are being created within the framework of the national project “Tourism and Hospitality Industry”.
“On the instructions of the President, we are implementing the Five Seas and Lake Baikal project, which promotes the growth of tourist flow and the socio-economic development of the regions as a whole. It is expected that the creation of new year-round resorts will give us 86 thousand new jobs, and also increase the tourist flow by 10 million people per year. Obviously, the project is large-scale, the maximum orchestration of resources and existing tools is needed. Regions should use not only federal budget funds within the framework of the national project (128 billion), but also use attracted investments and their own funds to create infrastructure facilities, and ensure control over the accuracy of calculations and budgets,” the Deputy Prime Minister explained.
During the headquarters meeting, he initiated instructions regarding the prioritization of projects by year, including in areas of supporting infrastructure: energy, roads, etc.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
TORONTO, Oct. 17, 2024 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) today announces that on October 16, 2024 it initiated arbitration proceedings and an Ontario court action to enforce its legal and contractual rights under the Rimba Raya PSA (as defined below). The Company had previously indicated that it would be evaluating all legal avenues to enforce its legal and contractual rights under the Rimba Raya PSA, the SAA (as defined below) and related agreements. Initiating the arbitration proceedings and the Ontario court action are an important step in preserving the Company’s legal and contractual rights.
The Company delivered a Notice of Arbitration to Infinite-Earth Limited and PT Infinite Earth Nusantara, the operators of the Rimba Raya project (“Infinite-Earth”) in accordance with the purchase and sale agreement between the Company and Infinite-Earth dated July 30, 2021, as amended on February 28, 2023 (the “Rimba Raya PSA“); a Notice of Arbitration to the shareholders of Infinite-Earth Limited in accordance with the strategic alliance agreement between the Company and the shareholders of Infinite-Earth Limited dated July 30, 2021, as amended on November 17, 2021 (the “SAA”); and issued a Notice of Action in the Ontario Superior Court of Justice seeking declaratory relief against the principals of Infinite-Earth Limited and their related entities.
The dispute between the Company, Infinite-Earth, and the principals of Infinite-Earth Limited arises out of acts and omissions that the Company alleges are improper and in breach of the Rimba Raya PSA, the SAA, and related agreements.
On April 26, 2024, the Company announced that it was informed that PT Rimba Raya Conservation (“PT Rimba”), the local concession holder for the Rimba Raya project, had its Forest Utilization Business License (the “Concession License”) revoked by the Indonesian Government’s Ministry of Environment and Forestry (the “MOEF”). On May 15, 2024, the Company announced its financial results for the three months ended March 31, 2024, and determined the fair value of the Rimba Raya PSA to be nil. On July 11, 2024, the Court reached a decision on the claim filed by PT Rimba against the MOEF before the State Administrative Court of Jakarta (the “Court of Jakarta”) challenging the MOEF’s revocation of the Concession License and declared the MOEF’s revocation of the Concession License to be void. The MOEF subsequently appealed the Court of Jakarta’s decision, and on September 30, 2024, the Court of Jakarta upheld its decision. The MOEF has until Friday, October 18, 2024, to initiate an appeal to overturn the decision to the Supreme Court of Jakarta.
For a comprehensive discussion regarding the risks, assumptions and uncertainties that could further impact the Rimba Raya project and the Rimba Raya PSA, including without limitation, concerning the legal status of the Concession License and the Rimba Raya PSA, investors are urged to review the section of the Company’s management’s discussion and analysis for the three months ended June 30, 2024 dated as of August 12, 2024 entitled “Strategy and Outlook – Indonesia Update”, the section of the Company’s Annual Information Form dated as of March 27, 2024 entitled “Risk Factors” and the press releases dated April 26, 2024, May 15, 2024 and May 21, 2024, copies of which are available on SEDAR+ at http://www.sedarplus.ca.
About Carbon Streaming
Carbon Streaming aims to accelerate a net-zero future. We pioneered the use of streaming transactions, a proven and flexible funding model, to scale high-integrity carbon credit projects to advance global climate action and additional United Nations Sustainable Development Goals. This approach aligns our strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions us as a trusted source for buyers seeking high-quality carbon credits.
The Company’s focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal, reduction and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.
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The references to third party websites and sources contained in this news release are provided for informational purposes and are not to be considered statements of the Company.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation: statements regarding acts and omissions of Infinite-Earth and the shareholders and principals of Infinite-Earth Limited; and statements with respect to the status of the Concession License held by PT Rimba with the MOEF.
When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the outcome of the final ruling with respect to the revocation of the Concession License held by PT Rimba; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and ESG initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; limited operating history for the Company’s current strategy; risks arising from competition and future acquisition activities; concentration risk; inaccurate estimates of growth strategy; dependence upon key management; impact of corporate restructurings; reputational risk; failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 27, 2024 filed on SEDAR+ at http://www.sedarplus.ca.
Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
Source: United Kingdom – Executive Government & Departments
New team of experts to provide the latest scientific advice across a range of specialisms to support the department’s work.
A panel of scientific experts is set to provide education policy makers with advice on strategic and emerging issues through a new Science Advisory Council, the Department for Education announced today (Thursday 17 October).
Professor Russell Viner, the Department for Education’s Chief Scientific Adviser, has established a team of 12 experts with a range of specialisms to ensure access to the best and latest scientific advice – helping the department’s work to break down the barriers to opportunity by protecting children and ensuring the delivery of higher standards of education, training and care.
Led by Professor Dame Athene Donald as chair, the independent panel will provide scientific advice to the Department for Education on matters relevant to its policy and operations. This will include areas such as early identification and support of children with Special Educational Needs and Disabilities (SEND), mental health support, online harms prevention, a sustainable and secure school estate and Artificial Intelligence and education technology.
The Council will also work with the Chief Scientific Adviser to identify and share emerging scientific trends with officials and facilitate effective links between the department and the wider scientific community.
Professor Russell Viner, Chief Scientific Adviser at the Department for Education, said:
We are the department for opportunity, working to deliver better life chances for all – and that means being at the forefront of cutting-edge scientific evidence to ensure we are doing everything we can to break the link between background and success.
We must keep pace with technological and scientific advancements if we are to deliver the highest standards for the people we serve. Science alone can’t address the challenges the department faces – but it can inform robust, evidence-informed decision making.
Chair Professor Dame Athene Donald, Professor Emerita of Experimental Physics and former Master of Churchill College, University of Cambridge, will be supported by Deputy Chair, Professor Mark Mon-Williams. Mark is the Chair of Cognitive Psychology at the University of Leeds and the Founder Director of the Centre of Applied Education Research.
The other ten members have expertise in fields including economics, social science, statistics, operational research and engineering, physical and life sciences, ethics, and data science. Between them they have worked on studies looking at school health interventions, the impact of AI on learning, how digital technologies affect adolescent mental health, how childhood circumstances influence child development and early interventions.
Plenary meetings will be held quarterly and will include attendance by the Chief Scientific Adviser, a non-executive board member and other relevant officials. Smaller, task-relevant meetings and workshops will occur as needed in response to departmental requests and needs.
The panel members are:
Chair: Professor Dame Athene Donald, DBE, FRS, Professor Emerita of Experimental Physics and former Master of Churchill College, University of Cambridge.
Deputy Chair: Professor Mark Mon-Williams, Chair of Cognitive Psychology, University of Leeds.
Professor Chris Bonell, Professor of Public Health & Sociology, London School of Hygiene and Tropical Medicine.
Professor William J. Browne, Professor of Statistics & Head of the School of Education, University of Bristol.
Dr Claire Crawford, Associate Professor at the Centre for Education Policy and Equalising Opportunities, University College London.
Michael Cribb, Chartered Structural Engineer and Associate Director, Arup.
Dr Dougal Hargreaves, Houston Reader in Paediatrics & Population Health, Imperial College London.
Dr Sonya Krutikova, Associate Professor of Economics, University of Manchester, & Deputy Research Director, Institute for Fiscal Studies.
Professor Rose Luckin, Professor Emeritus of Learner Centred Design, University College London.
Dr Amy Orben, Leader of the Digital Mental Health Group at the MRC Cognition and Brain Sciences Unit, University of Cambridge.
Professor Paul Ramchandani, LEGO Professor of Play in Education, Learning and Development, University of Cambridge.
Professor Michael J. Reiss, Professor of Science Education at the Institute of Education, University of London & University College London.
STEINHAUSEN, Switzerland, Oct. 17, 2024 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a one-year contract for the Deepwater Conqueror with an undisclosed operator in the U.S. Gulf of Mexico. The contract is expected to commence in October 2025 and contribute approximately $193 million in backlog, including additional services.
About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.
Forward-Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and in many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: http://www.deepwater.com.
This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.
VANCOUVER, British Columbia, Oct. 17, 2024 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to announce its third quarter 2024 gold production results from its Bomboré Gold Mine:
Gold production of 26,581 ounces, totalling 82,244 ounces year-to-date
Gold sales of 27,698 ounces at an average realized price of US$2,473/oz, resulting in sales of US$68.5 million
Quarter-end cash balance of US$66.9 million and senior debt of US$68.1 million after a further repayment of US$5.0 million in principal during the quarter
Patrick Downey, President & CEO stated, “Q3 marked another strong operating period at Bomboré, with a quarterly record of 1.5 million ore tonnes processed. Through the quarter, the Company was successful in accessing, pre-stripping, and commencing production in the higher-grade, free-digging Siga Zone oxides in the south. However, mill feed from this newly accessed, higher-grade zone, was lower than planned during the quarter due to delays from heavy rains and a four-day plant shutdown including a full ball mill reline in late September.
With the conclusion of the rainy season and completion of all scheduled annual mill maintenance, we fully expect fourth quarter gold production to be the strongest quarter for the year with increased ore contribution from the Siga Zone. The Company is on track to meet the mid-point of its 2024 production guidance of 110,000 to 125,000 ounces, evidenced by the strong gold production of 6,331 ounces through the first 15 days of October, at a head grade of 0.85 g/t gold. With record gold prices and unhedged gold sales, we expect additional cash generation in the last quarter of the year.”
Bomboré Production Results (100% Basis)
Unit
Q3-2024
Q2-2024
Q1-2024
Nine Months Ended September 30, 2024
Ore processed
Tonnes
1,491,740
1,428,396
1,355,619
4,275,755
Ore grade
Au g/t
0.63
0.64
0.78
0.68
Plant recovery
%
87.4
86.8
89.0
87.8
Gold produced
Au oz
26,581
25,524
30,139
82,244
Gold sold
Au oz
27,698
24,937
31,229
83,864
About Orezone Gold Corporation
Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.
The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.
Contact Information
Patrick Downey President and Chief Executive Officer
For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website athttp://www.orezone.com.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.
QUALIFIED PERSONS
Dale Tweed, P. Eng., VP Engineering and Rob Henderson, P. Eng. VP Technical Services of Orezone, are Qualified Persons under NI 43-101 and have reviewed and approved the scientific and technical information contained in this news release.
This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur. Forward-looking statements in this press release include, but are not limited to, statements with respect to the Company being on track to meet the mid-point of its 2024 production guidance including the fourth quarter being the strongest quarter of the year, cash generation in the last quarter of the year and the hard rock expansion.
All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances.
All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, delays caused by pandemics, terrorist or other violent attacks (including cyber security attacks), the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management discussion and analysis filed on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements.
Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.
This compendium brings together a set of briefings prepared by the European Parliamentary Research Service (EPRS) to guide Members of the European Parliament through the parliamentary hearings of Commissioners-designate in early November 2024. These public confirmation hearings form the backdrop to Parliament’s confirmation vote on the College of Commissioners put forward by Ursula von der Leyen, following her re-election as Commission President by the European Parliament in July 2024. In addition to an overview of the process, setting its historical and political context, this volume contains a briefing on each of the Commissioners-designate and their portfolios. Each of these briefings highlights some of the key issues and recent developments in the portfolio, as well as looking back on Parliament’s activity in the area in the last parliamentary term.
–having regard to the Treaty on the Functioning of the European Union, in particular Article 168 thereof,
–having regard to the Charter of Fundamental Rights of the European Union, in particular Article 35 thereof,
–having regard to Regulation (EU) 2017/745 of the European Parliament and of the Council of 5 April 2017 on medical devices, amending Directive 2001/83/EC, Regulation (EC) No 178/2002 and Regulation (EC) No 1223/2009 and repealing Council Directives 90/385/EEC and 93/42/EEC[1](MDR),
–having regard to Regulation (EU) 2017/746 of the European Parliament and of the Council of 5 April 2017 onin vitrodiagnostic medical devices and repealing Directive 98/79/EC and Commission Decision 2010/227/EU[2](IVDR),
–having regard to Regulation (EU) 2020/561 of the European Parliament and of the Council of 23 April 2020 amending Regulation (EU) 2017/745 on medical devices, as regards the dates of application of certain of its provisions[3],
–having regard to Regulation (EU) 2023/607 of the European Parliament and of the Council of 15 March 2023 amending Regulations (EU) 2017/745 and (EU) 2017/746 as regards the transitional provisions for certain medical devices andin vitrodiagnostic medical devices[4],
–having regard to Rule 136(2) of its Rules of Procedure,
A.whereas medical devices play a pivotal role in the healthcare industry, facilitating the diagnosis, prevention, monitoring and treatment of various medical conditions;
B.whereas people rely on these devices every day and expect them to be safe, available and affordable;
C.whereas after a series of scandals, in which patient safety was jeopardised for profits, including cases of leaking breast implants, the new MDR and IVDR were agreed;
D.whereas these regulations updated the rules on the placing on the market of medical devices for human use and their accessories, as well as the rules for making such devices and accessories available on the market and putting them into service in the EU; whereas they also contain rules on how clinical investigations concerning such devices and accessories are carried out in the EU;
E.whereas the main aim of the regulations is to improve patient safety by introducing more stringent procedures for conformity assessment (to ensure that unsafe or non-compliant devices do not end up on the market) and post-market surveillance;
F.whereas in 2020, amending Regulation (EU) 2020/561 was adopted to allow EU Member States and their authorities and institutions to prioritise the fight against the COVID-19 pandemic; whereas the application of certain of the MDR’s rules was deferred by one year to ensure the smooth functioning of the EU’s internal market, to maintain a high level of public health protection and patient safety, to provide legal certainty and to avoid potential market disruption during the pandemic;
G.whereas in 2023, amending Regulation (EU) 2023/607 was adopted as regards the transitional provisions for certain medical devices andin vitrodiagnostic medical devices, permitting extensions where needed;
H.whereas some of the manufacturers of medical devices remain persistently unprepared to meet the requirements of the regulations;
I.whereas some of the notified bodies who carry out the assessment and certification of medical devices have created an unpredictable work environment for manufacturers of medical devices;
J.whereas there is no clarity on any actual shortages of medical devices nor on risks posed by shortages for specific therapeutic areas; whereas more factual information is needed to properly address the situation;
K.whereas the European Database on Medical Devices (EUDAMED) is an integral part of the MDR and the IVDR;
1.Expresses its continued support for the strong and strict protection of patient health and safety, including through the correct implementation of the MDR and the IVDR; underlines that patient safety must never be compromised;
2.Regrets possible shortages of medical devices and risks thereof, notably in the areas of paediatric care and orphan devices, resulting mainly from a suboptimal implementation of the legal framework;
3.Points out that the President of the European Commission has tasked the Commissioner-designate for Health and Animal Welfare with ensuring ‘the availability and competitiveness of medical devices, including by stepping up the implementation of current framework and evaluating the need for potential legislative changes’;
4.Welcomes the Commission’s ongoing non-legislative actions to support the transition to the new regulations, including advice and guidance on the clinical evidence needed for fee-free conformity assessment, training, coaching and internship activities for notified bodies and conformity assessment bodies, and support for the development of innovative and orphan devices;
5.Stresses that the ongoing evaluation of the MDR and IVDR will generate much needed data and should be concluded and its results fully taken into account in any future revision of the MDR and IVDR, which should be accompanied by the customary full impact assessment;
6.Underlines that citizens, including patients in particular, as well as governments, civil society organisations and manufacturers of medical devices, have a right to information on the processes used by notified bodies for the certification of medical devices, including information on the timelines and fees;
7.Regrets the fact that notified bodies seem to have been misusing their critical position in the value chain, and points to the fact that this endangers patient safety and treatment options;
8.Expects all manufacturers of medical devices to be able to meet the requirements of the MDR and IVDR without any further delay;
9.Expects all notified bodies to ensure, through their work, that safe and reliable medical devices obtain timely and affordable access to the market, in a predictable and consistent manner;
10.Calls on the Commission to step up its efforts to ensure that the notified bodies use common and transparent working methods; invites the Commission to explore the possibility of ensuring more harmonisation, transparency and predictability of the certification processes, timelines and fees of the notified bodies, by means of implementing or delegated acts;
11.Calls on the Commission also to investigate ways to increase the transparency of the entire certification process conducted by notified bodies, to ensure that the public, civil society, academia and governments can scrutinise the work done; stresses that this would enhance the safety of the medical devices;
12.Calls for the full implementation of EUDAMED in accordance with the agreed timeline;
13.Underlines that any future legislative proposal on medical devices should be patient-centred and should put patient safety first;
14.Instructs its President to forward this resolution to the Council, the Commission and the governments and parliaments of the Member States.
