Category: Politics

  • MIL-OSI Submissions: UN Political Declaration on antimicrobial resistance essential step, but concrete action from governments now critical

    Source: Médecins Sans Frontières

    AMR remains a leading cause of death worldwide nearly a decade after UN member states agreed to make it a priority.

    Geneva/New York, 25 September 2024 – Ahead of the second-ever United Nations (UN) High Level Meeting on antimicrobial resistance* (AMR) tomorrow, where world leaders will come together to agree on commitments to advance the global response to AMR, Médecins Sans Frontières/Doctors Without Borders (MSF) called on governments to take swift, bold action to translate this political declaration into meaningful progress against drug resistance. 

    Headway against AMR since the first declaration nearly a decade ago has been inadequate and inequitable, with low- and middle-income countries – and humanitarian contexts, in particular – least equipped to respond despite bearing the highest burdens of drug-resistant infection. 

    Drawing on years of experience tackling drug resistance around the world, MSF urged governments to build on the commitments made and take an ambitious set of follow-on steps to empower those most affected by AMR to prevent, detect, and respond to it. AMR is a leading cause of death worldwide, and contributed to 4.95 million deaths in 2019 alone, with recent estimates showing the threat is still growing at alarming rates, possibly contributing to 8.2 million deaths annually by 2050.

    “We are seeing staggering rates of drug-resistant infections in many of the low-resource and humanitarian settings where we work, in large part because healthcare workers don’t have what they need to prevent, detect, and respond to AMR,” said Dr Christos Christou, International President of MSF. 

    “The UN Political Declaration on antimicrobial resistance is a welcome step towards strengthening the global AMR response and expresses important aspirations for global equity and solidarity. Considering the magnitude of the challenge of AMR though, and how few of the hardest-hit countries have been able to fund and implement national action plans, the declaration text should have been much more concrete and ambitious. 
    “The declaration must now go beyond words on paper: governments must not only enact and be accountable to the commitments they’ve made, but they must also build on and refine them to ensure low-resource and humanitarian settings are no longer left behind.”

    People in low- and middle-income countries experience the highest rates of AMR and infectious diseases globally, but are the least likely to have access to healthcare, including the medicines, vaccines, and diagnostics they need. In humanitarian settings, other factors compound the AMR crisis. Conflicts or natural disasters, for example, can result in traumatic injuries that can easily become infected and force people to take refuge in overcrowded settings where resistant bacteria can spread easily.

    In the political declaration, governments acknowledged the importance of addressing AMR in humanitarian settings like those in which MSF works, as well as several issues that MSF has highlighted as key priorities in responding to AMR. However, the commitments made to address these issues should have been bolder and more precisely calibrated to address global inequities. MSF recommends that governments build on and refine these commitments in the following ways:

    The declaration’s commitment to include affected communities and humanitarian organisations in the governance of platforms and mechanisms to address AMR must now be put into practice. Only by ensuring the inclusive participation of these groups in global AMR initiatives can an effective roadmap for reaching the most underserved settings take shape. 

    For example, if established, the proposed Independent Panel on Evidence for Action Against AMR must adhere to principles of impartiality, transparency, and accountability to all countries, and prioritise research in and for communities most affected by AMR. 
    This is important, because communities in conflict-affected, fragile and humanitarian settings are more vulnerable to AMR, but evidence needed to inform the response in these settings is acutely lacking.
    The declaration recognizes the need for strengthening laboratory capacity and commits to “improve access to diagnosis and care,” but this broad commitment must be made more specific and precise in follow-on agreements and accountability frameworks to ensure expanded and equitable availability of quality-assured microbiology laboratories. Access to microbiology laboratories is a critical foundation for preventing, detecting and controlling AMR more effectively, but many places with high rates of AMR do not have quality laboratories.
    The commitment to increased international financing and technical assistance to enable low- and middle-income countries to implement national action plans to address AMR must result in stronger and more ambitious funding, as the currently proposed US$100 million to see 60 per cent of countries achieve funded plans to tackle AMR by 2030 is not sufficient to address a health issue of this magnitude.
    The commitment to ensure timely and equitable access to affordable medical tools, including antimicrobials and diagnostic tests, must translate into concrete action. The significant global gaps in access to medical tools must be tracked and quantified to guide efforts to achieve more equitable access, and resources allocated accordingly for both access strategies and antimicrobial stewardship programs. 
    Furthermore, when governments provide funding for research and development for new antimicrobials, they should prioritise public and nonprofit initiatives, as these facilitate access, stewardship, and collaborative approaches to research. Funders must also attach upfront conditions ensuring equitable global access to any resulting medical tools into agreements when providing the “push” and “pull” funding called for in the declaration.

    “To effectively combat AMR globally, governments must address the significant discrepancies in the amount of evidence for action available in high-income and low-resource settings,” said Dušan Jasovský, Antimicrobial Resistance Pharmacist with the MSF Access Campaign. 

    “This means that the Independent Panel on Evidence for Action Against AMR proposed in the declaration must prioritise research in communities most affected by AMR, which are often in humanitarian or low-resource settings where there is currently the least evidence to guide action. This panel is in a great position to inform a response to drug resistance in the hardest-hit areas based on interventions that work, but to do so it must operate with transparency, accountability, and impartiality, backed by ambitious financial means of implementation, and in close collaboration with affected communities.”

    *AMR — when microbes like bacteria, viruses, and fungi evolve and survive despite the antimicrobial medicines, such as antibiotics, used against them — can make medical care less effective and much more difficult, prolonged, and costly for patients and treatment providers.

    MSF is a leading actor in preventing, detecting, and responding to AMR in humanitarian settings, with infection prevention and control, and stewardship initiatives across multiple contexts and 50 sites with planned or existing access to diagnostic microbiology in 20 countries worldwide. MSF has developed an interdisciplinary approach to addressing AMR which includes targeted training and support for infection prevention and control, and antimicrobial stewardship, and in some cases also efforts to provide access to microbiology lab-based diagnosis.

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

    MIL OSI – Submitted News

  • MIL-OSI United Kingdom: Ready for uni life? Use condoms to keep STIs away

    Source: United Kingdom – Executive Government & Departments

    UKHSA is advising students to use condoms when having sex with new or casual partners

    Sexually transmitted infections (STIs) remain high among young people. The most recent data from UKHSA shows that in 2023, among people aged 15 to 24, there were:

    • 104,107 cases of chlamydia
    • 4,617 cases of genital warts
    • 29,880 cases of gonorrhoea

    These infections spread easily, and those aged 15 to 24 are especially at risk as they are more likely to have frequent partner changes.

    While many STIs can be treated, untreated infections can lead to serious health issues. Chlamydia and gonorrhoea may cause infertility and pelvic inflammatory disease, while syphilis can result in severe, irreversible problems affecting the brain, heart, or nerves.

    Katy Sinka, Head of Sexually Transmitted Infections at UKHSA, said:

    If you’re having sex with someone new, or someone more casually, don’t forget to use a condom.

    With higher STI rates in young people, having sex without a condom can increase your chances of an infection like chlamydia or gonorrhoea. Getting tested regularly will also help detect any infections quickly and protect your own and your partners health.

    Some people will have symptoms of an infection (such as a discharge, pain while urinating or an unusual rash or blisters) but many people do not show symptoms which means people often pass on STIs without realising it. Regular testing for STIs and HIV  is essential – everyone should have an STI screen, including an HIV test, at least once a year if having condomless sex with new or casual partners.

    Testing is free – including for students who have moved here from another country. It can be accessed through local sexual health clinics, university and college medical centres. Many sexual health services in England now offer free STI self-sampling kits for people who aren’t showing any symptoms or signs of an STI and would prefer a routine check-up in the comfort and privacy of their own home. If you notice any unusual symptoms, make sure to contact your local sexual health service and get tested.

    Laura Domegan, Head of Nursing at Brook, said:

    Freshers is always a good time for young people to consider their sexual health, with many of them moving away from home, meeting new people and taking part in all the fun that comes with starting a new college or university. This year it is particularly important, given the recent increase in diagnoses of several STIs, particularly among young people. Thankfully there are very simple steps everyone can take to look after themselves.

    Using condoms is one of the best ways to enjoy safer sex as they’re the only form of contraception that also protects against STIs. People should also get tested if they’ve had unprotected sex or started seeing a new partner. It doesn’t matter how many times you’ve had sex or how many sexual partners you’ve had, anyone can catch an STI. Many STIs do not have symptoms either, so testing is the only way to know if you have one or not.

    We would also encourage students to access their local sexual health services. They will be able to provide you with free condoms, contraception, and STI testing and treatment, as well as the confidential, non-judgement support you need to look after your sexual health. To find your nearest sexual health service visit the Brook Sexual Health Clinic Near Me website.

    UKHSA is also reminding students to ensure they are up to date with their free NHS vaccines, including:

    • MMR
    • MenACWY
    • HPV

    The MenACWY jab can be a lifesaver as it protects against some types of meningitis. The HPV vaccine protects against some forms of cancer and reduces the risk of genital warts. Some students will also be eligible for an mpox vaccine, a hepatitis B vaccine and a hepatitis A vaccine.

    UK Health Security Agency press office

    10 South Colonnade
    London
    E14 4PU

    Updates to this page

    Published 25 September 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: ‘National conversation’ on curriculum begins

    Source: United Kingdom – Executive Government & Departments

    Professor Becky Francis has launched a call for evidence seeking views on the current curriculum and assessment system to help shape the future of education.

    Professor Becky Francis

    Young people, parents, employers and education staff, leaders and experts are being invited to take part in a ‘national conversation’ about how the curriculum and assessment system can better prepare young people for life and work, as a call for evidence is launched today (25 September). 

    The eight-week consultation aims to bring everyone into the conversation about what’s working well and what could work better in the curriculum and marks the next step in the government’s independent review. 

    Responses will be invaluable in shaping the direction of the review and pivotal to the recommendations Professor Becky Francis and her expert panel put forward in 2025.  

    Today’s call for evidence covers a range of specific areas, including how best to provide an excellent foundation in English and maths, support for children from socioeconomically disadvantaged backgrounds, and access to a broad and balanced curriculum.  

    The review will also take written and oral evidence from key stakeholders, alongside a series of regional engagement events from mid-October to meet and take input from young people and staff on the frontline.  

    Spanning from Key Stage 1 through to Key Stage 5, the review will look closely at the key challenges to attainment for young people, and the barriers which hold children back from the opportunities and life chances they deserve – in particular those who are socioeconomically disadvantaged, or with special educational needs or disabilities (SEND).   

    Professor Becky Francis said: 

    “The curriculum belongs to the nation. And especially, it must work for the young people who follow it, and the teachers and lecturers that communicate it. 

    “As such, it’s imperative that we hear perspectives and evidence from as wide a range of people as possible including children, young people, parents, education professionals and other stakeholders. 

    “The launch of our Call for Evidence today enables that. And we have sought to keep questions broad and wide-ranging, to enable people to have their say.  

    “There is much that is working in the present curriculum, but this is a chance to refresh, to address areas which aren’t working well, and to ensure excellence for all. I hope as many as possible will respond and I look forward to reading the responses.” 

    The review will look at ensuring all young people aged 16-19 have access to rigorous and high-value qualifications and training that will give them the skills they need to seize opportunity, as well as ensuring they are ready for the changing workplace.     

    It will also look at whether the current assessment system can be improved for both young people and staff, while protecting the important role of examinations.   

    Following the review, all state schools – including academies which currently do not have to follow the national curriculum – will be required by law to teach the national curriculum up to age 16, giving parents certainty over their children’s education. 

    The call for evidence runs from 25 September to 22 November 2024 and can be accessed here.

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 25 September 2024

    MIL OSI United Kingdom

  • MIL-OSI Russia: SUM staff and students took part in the International Forum “Digital Transportation – 2024”

    MIL OSI Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    On September 23-24, 2024, the Lomonosov cluster hosted the II International Forum “Digital Transportation”, in which a group of teachers and scientists from the State University of Management took part, and our volunteers helped in the organization.

    For the second year in a row, the forum has brought together industry leaders, experts and government officials. The focus is on the main trends and key tasks of the transport and logistics complex, innovative digital solutions, import substitution issues and ensuring the technological sovereignty of our country.

    The Forum was attended by the Minister of Transport of the Russian Federation Roman Starovoit, his deputy for digitalization Dmitry Bakanov, CEO of PJSC Aeroflot Sergey Aleksandrovsky, Chairman of the Board of JSC Russian Railways Oleg Belozerov, Chairman of the Board of Directors of Sitronics Group Nikolay Pozhidaev, CEO of JSC GLONASS Alexey Raikevich, Director of Digitalization of the State Corporation Rosatom Ekaterina Solntseva, Vice President of the FESCO Transport Group Dmitry Surovets.

    From the State University of Management in the business program of the forum, Professor of the Department of Transport Complex Management Vladimir Savchenko-Belsky, Associate Professor of the Department of Transport Complex Management Artem Merenkov, Associate Professor of the Department of Project Management Svetlana Sycheva, and Director of the Business Incubator Dmitry Rogov took part.

    Participants discussed advanced technologies in the field of digitalization of transportation, the introduction of unmanned systems on land, in water and in the air, cybersecurity issues, the use of “big data”, mechanisms and projects for the transition from import independence to the export of large digital platforms in the field of transport, logistics and tourism services. Experts shared their experience in implementing digital solutions in state and municipal administration to improve management efficiency and provide better services to citizens and spoke about the most ambitious plans for the near future. A separate session was devoted to staffing the industry.

    The forum was also attended by students of the Institute of Industry Management studying in the educational programs “Logistics and Supply Chain Management”, “Transport and Logistics Systems Management”, “Automotive Business Management” and “Project Management”. And 13 students of our university helped in organizing the Forum as volunteers.

    For students studying in a specialized field, it is especially important to attend such events in order to delve deeper into the specifics of their future profession, get acquainted with innovative solutions, learn about current trends in the industry and establish useful contacts with potential employers.

    The Forum is organized by the Digital Transport and Logistics Association with the support of the Ministry of Transport of the Russian Federation.

    Subscribe to the TG channel “Our GUU” Date of publication: 09/25/2024

    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.

    SUM staff and students took part in the International Forum “Digital Transportation – 2024”

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News

  • MIL-OSI USA: Administrator Samantha Power at the Clinton Global Initiative

    Source: USAID

    ADMINISTRATOR SAMANTHA POWER: Thank you so much. And, President Clinton, just the good that you have done in your life as President, before you were president at CGI [Clinton Global Initiative], just thank you so much. Thank you, truly.

    So, I have been working for three decades in the international domain, seeking ways to improve and save lives. And, honestly, never in my career have I seen such a compelling, low-cost opportunity to make such a massive impact on a major global killer. 

    The scale of lead poisoning around the world is actually mind boggling. Right now, in low- and middle-income countries, half of children have elevated blood lead levels – lead that slows their brain development, harms their bodies, and can even kill them. Imagine: one in two kids. 

    The damage that lead is causing to children’s brains is actually estimated to account for 20 percent of the education gap between high- and low-income countries. Every year, lead poisoning is estimated to cost the global economy a trillion dollars, and it kills at least 1.5 million people, as you just heard. 

    But, none of this has to happen. This problem is solvable. 

    Decades ago, we banned leaded gasoline, long the biggest source of lead exposure here in the United States. And then, we worked with countries across the planet to phase out lead from gas, which continues to save over a million lives every year. 

    Of course, in high income countries, we didn’t stop with gasoline. We worked to remove lead from consumer products and to clean up industrial operations that leach lead into the environment. But, for those sources, we didn’t replicate the playbook in other countries, so kids there simply continue to be poisoned. 

    Well, it is time to change that – and, partner countries abroad have started leading the way. 

    Countries like Bangladesh and Malawi, for instance, have launched campaigns that eliminated lead from spices and paint for a total cost of just a few million dollars or less. 

    In just the eight months since we began a concerted push to galvanize awareness and support for this global issue, six countries have committed to banning lead in paint. They are showing us that stopping lead pollution at its source is both achievable and it is affordable. 

    USAID, UNICEF, and Open Philanthropy are announcing a Clinton Global Initiative Commitment to Action to launch the Partnership for a Lead Free Future — a global coalition to end childhood lead poisoning in developing countries once and for all. 

    Up to now, as you heard, just $15 million a year in donor capital was supporting this effort. Well, today, on behalf of the Partnership, we are delighted to commit $150 million to get the lead out. This is ten times the previous annual funding levels. This is remarkable, but it is just the start. 

    We need you all to help generate more resources and more awareness that gets governments and companies to act. So we hope you will join us and come together to help put an end to one of the great injustices of our time. 

    Thank you so much. 

    MIL OSI USA News

  • MIL-OSI USA: The United States Announces Nearly $199 Million in Additional Humanitarian Assistance for the Rohingya Refugee Crisis

    Source: USAID

    Today, the United States announced nearly $199 million in additional humanitarian assistance to address the needs of Rohingya refugees and host communities in Bangladesh and the region, including over $129 million through USAID and nearly $70 million from the U.S. Department of State. U.S. Department of State Under Secretary for Civilian Security, Democracy, and Human Rights Uzra Zeya announced the funding at a Rohingya-focused event during the UN General Assembly High-level week. 

    USAID’s assistance includes funding from the bipartisan National Security Supplemental as well as $78 million from the U.S. Department of Agriculture’s Commodity Credit Corporation, which will help to purchase, ship, and distribute approximately 52,200 metric tons of food commodities from American farmers to approximately 610,000 refugees experiencing acute food insecurity in Bangladesh. It will also support the International Rescue Committee, UNICEF, and the UN World Food Program to provide food, nutrition, and protection assistance to Rohingya refugees and host communities.

    The U.S. government has provided more than $2.5 billion for the regional Rohingya response since August 2017, including more than $2.1 billion in Bangladesh. We remain committed to delivering assistance to crisis-affected communities in Burma, Bangladesh, and the region and call on other donors to increase their support in order to fill critical funding gaps and meet the needs of the most vulnerable.

    MIL OSI USA News

  • MIL-OSI USA: Deputy Administrator Isobel Coleman at the U.S. – Africa: emPowering West African Energy Solutions

    Source: USAID

    DEPUTY ADMINISTRATOR ISOBEL COLEMAN: Good afternoon, everyone. And, thank you all for joining this discussion about the transformative role of energy in driving economic growth – in West Africa and around the world.

    A recent study from Our World in Data, a reputable nonprofit research consortium, reinforces the direct positive correlation between electricity and income. Most notably, the data shows that high-income, low-energy countries simply do not exist. Economic growth requires available, affordable, and reliable electricity. Access to energy goes hand in hand with economic development. And, when we invest in expanding access to energy, we create the conditions for transformative economic growth.

    African-led approaches are indispensable to achieve this transformation. 

    Just this week, Power Africa signed a Memorandum of Understanding with the African Union Development Agency in support of their Continental Power System Master Plan, which lays out a framework for the creation of an African Single Electricity Market, and ultimately, achieving universal electrification across the African continent. This plan is the culmination of years of analysis, and reflects African ingenuity, creativity, and leadership. And, the plan prioritizes the creation of strong, reliable, and interconnected transmission networks, and of promoting the effective governance of regional power pools.

    The West Africa Power Pool is a shining example of efficient energy trading that lowers overall costs. West Africa is uniquely positioned to meet its energy demands. The region boasts vast natural resources and has made significant investments in the infrastructure necessary to facilitate cross-border energy trade. 

    In 2023, twelve West African countries achieved a monumental milestone by uniting their national power grids. This historic achievement is expected to generate up to $32 billion in trade benefits for ECOWAS countries over the next decade.

    The U.S. government has been a strong supporter of the West Africa Power Pool since its inception over two decades ago. In particular, Power Africa has been deeply involved, providing critical support to advance cross-border transmission lines, facilitate regional power purchase agreements, and enhance bilateral power trade. Over the past five years, our shared efforts have helped boost regional electricity trade by roughly ten percent a year, totaling four terawatt-hours of additional regional power trade.

    The synchronized electricity networks of Benin, Burkina Faso, Côte d’Ivoire, Ghana, Guinea, Liberia, Mali, Mauritania, Senegal, Sierra Leone, The Gambia, and Togo have laid the foundation for a regional energy market. This synchronization allows cleaner, more cost-effective energy to be traded across borders, reducing dependency on expensive, polluting sources like diesel generators, while expanding access to reliable electricity.

    We are enthusiastic about the positive impact the West Africa Power Pool is poised to create as it bolsters the region’s energy security, reliability, and affordability. 

    Power pools like this help lower electricity costs, reduce losses by evacuating excess energy to areas of need, and strengthen regional collaboration. Studies show that when compared to domestic-generation, instituting regional power markets is associated with a 20 percent drop in the average cost of electricity – freeing up significant resources to address other pressing global needs. Regional cooperation, cross-border energy trade, and public-private partnerships in infrastructure will be precursors to meeting West Africa’s energy needs and driving the broad economic growth the continent deserves. 

    USAID looks forward to continuing to collaborate with all of you in pursuit of that goal.

    We have an exciting discussion ahead, so without further ado, I’m honored to introduce the CEO of the Millennium Challenge Corporation, Alice Albright. 

    Thank you. 

    MIL OSI USA News

  • MIL-OSI USA: Office of the Governor – News Release – Gov. Green Lauds Top State Manager, Employee and Team of the Year

    Source: US State of Hawaii

    JOSH GREEN, M.D.

    GOVERNOR
    KE KIAʻĀINA

    GOVERNOR GREEN LAUDS TOP STATE MANAGER, EMPLOYEE AND TEAM OF THE YEAR

    FOR IMMEDIATE RELEASE
    September 24, 2024

    HONOLULU — Governor Josh Green, M.D., today recognized winners of the Governor’s Awards, designed to honor state Executive Branch employees, managers and work teams who exemplify the highest caliber of public service and dedication in serving the people of Hawai‘i. The statewide program is administered by the Department of Human Resources Development.

    “Public employees have made important contributions to our continuing efforts to improve the efficiency and quality of government services,” said Governor Green. “We are honored to work with such dedicated individuals and appreciate all they do each and every day.”

    Governor Green presented the awards for:

    STATE MANAGER OF THE YEAR: Joanna Seto, Administrator, Department of Health

    Faced with extraordinary responsibilities, including the Red Hill Fuel crisis, Joanna’s skills and successes have never been more apparent than after the Maui wildfires. She actively led her team through the response and recovery phases and continues to help hone their skills to assist the community in rehabilitating the environment. Leading by example, her team is committed to its mission – to protect human health and the environment.

    STATE EMPLOYEE OF THE YEAR: Heidi Taogoshi, Registered Nurse, Department of Health

    In the aftermath of the Maui Wildfires, Heidi quickly assessed the needs of the Lahaina community resulting in the deployment of mobile medical teams and the conversion of an abandoned state building into a health care clinic to provide essential services to those affected by the wildfires. With her guidance, management of the clinic was transferred to community providers, ensuring continued services to the people of Lahaina.

    STATE TEAM OF THE YEAR: UH Maui College Culinary Arts Team, University of Hawai‘i

    When the UH Maui College Pa‘ina Building was transformed into a fire relief food hub after the wildfires, the Culinary Arts team worked with organizations to prepare meals for residents displaced by the fire. The team also created a Disaster Relief Food Preparation Experience course, designed for students to work with industry chefs and instructors to learn about disaster relief food preparation and distribution.

    The three winners were selected from 56 exceptional groups and individual nominees.  A volunteer Selection Committee of four prominent members of the community carefully reviewed the 56 nomination packets and rated them according to defined categories.  The committee presented its recommendations for the three awards to Governor Green.

    The four members of this year’s Selection Committee are: Hawai‘i Public Radio host and news team member Catherine Cruz; City and County of Honolulu Homeless Coordinator Sam Moku; Hawai‘i Convention Center/ASM Global General Manager Teri Orton, and Office of the Governor Chief of Staff Brooke Wilson.

    At this year’s ceremony, Governor Green also recognized the recipients of the 2020 Governor’s Awards for Employee, Manager and Team of the Year for their outstanding achievements due to the cancellation of the May 2020 ceremony during the COVID-19 pandemic.

    The 2020 Selection Committee, comprising John Gotanda, president, Hawai‘i Pacific University; Catherine Cruz, host and news team member, Hawai‘i Public Radio; Marc Alexander, then-executive director, Mayor’s Office of Housing; Terri Funakoshi, director of operations, YWCA O‘ahu; and Jason Hagiwara, president and general Manager, KITV4 Island Television, selected the award recipients from 53 exceptional groups and individual nominees. They are:

    2020 STATE MANAGER OF THE YEAR: BONNIE KAHAKUI, state procurement assistant administrator, Department of Accounting and General Services

    Bonnie sets the pace in her office, always looking ahead and focusing on improving practices and procedures. She launched a new Learning Management System, recording more than 14,000 attendees at procurement training workshops and worked to broaden the purchasing process and take advantage of Amazon’s wide selection. Bonnie also led a statewide initiative to procure electric vehicles and infrastructure to help reduce Hawai‘i’s carbon footprint.

    2020 STATE EMPLOYEE OF THE YEAR: JANIS MATSUNAGA, entomologist, Department of Agriculture

    She is a leading expert in the field, editor of the Proceedings of the Hawaiian Entomological Society and is one of the longest serving officers in the 100-plus year history of the Hawaiian Entomological Society. Through emails or social media, Ms. Matsunaga will often bring peace of mind to the residents of Hawai‘i by defining problems with beetles infesting cabinetry or address insect problems that exist in their homes.

    2020 STATE TEAM OF THE YEAR: CORRECTIONS PROGRAMS SERVICES (CPS) – EDUCATION BRANCH, Department of Public Safety

    Education gives us knowledge and provides the necessary skills to navigate the world around us. When inmates become students of the Education Branch, they are more likely to find employment, make a positive contribution to society and strengthen family relations. The public benefits from reduced government costs, decreased crime rates, safer communities and a reduced tendency of convicted criminals to reoffend. In 2019, the Team produced 28 GED graduates, with 3 students passing the HiSET. (The Department of Public Safety was redesignated as the Department of Corrections and Rehabilitation effective January 1, 2024.)

    “These individuals have selflessly given of themselves to enrich the lives of those they serve,” said Governor Green. “Their accomplishments perpetuate the aloha spirit and make our state a special place to live and work.”

    Photos from today’s awards ceremony will be uploaded here.

    # # #

    Media Contacts:   
    Erika Engle
    Press Secretary
    Office of the Governor, State of Hawai‘i
    Phone: 808-586-0120
    Email: [email protected]

    Makana McClellan
    Director of Communications
    Office of the Governor, State of Hawaiʻi
    Cell: 808-265-0083
    Email: [email protected]

    Erin Conner
    Executive Specialist
    Department of Human Resources Development
    Phone: 808-587-1120
    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI USA: Governor Newsom signs bipartisan legislation to strengthen California’s gun laws

    Source: US State of California 2

    Sep 24, 2024

    What you need to know: Governor Newsom today signed a bipartisan legislative package to further reinforce California’s nation-leading gun laws and prevent traumatic incidents of mass violence. The laws build on California’s successful strategies to address gun violence, including new measures to reduce domestic violence. 

    SACRAMENTO — Building on California’s nation-leading gun laws, Governor Gavin Newsom today signed a number of bills into law to bolster California’s nation-leading gun laws, adding stronger protections against gun violence. 

    “California won’t wait until the next school shooting or mass shooting to act. In the absence of congressional action, our state is once again leading the way by strengthening our nation-leading gun laws. Data shows that California’s gun safety laws are effective in preventing gun-related deaths — which makes the ongoing inaction and obstruction by politicians in the pocket of the gun lobby even more reprehensible.”

    Governor Gavin Newsom

    What these new laws do

    PROTECT KIDS FROM GUNS by strengthening safe storage requirements and creating stricter penalties for gun owners whose guns are accessed by a child, resulting in death or injury to themselves or others. Strengthens safety measures to protect students during active threats.

    PREVENT GUN-RELATED HATE CRIMES by building on California’s red flag laws and creating more training for law enforcement officers and courts to assess and identify extremism and potential for hate-based crimes, allowing more effective use of restraining orders. 

    SAFEGUARD VICTIMS OF DOMESTIC ABUSE by creating more training and tools for child custody caseworkers and law enforcement officers to determine whether abusers may have access to guns. 

    ✅ PROVIDE MORE TOOLS TO KEEP GUNS OUT OF DANGEROUS HANDS by restricting animal abusers and persons found incompetent to stand trial from possessing firearms, as well as by strengthening California’s red flag laws.

    ✅ INCREASE INFORMATION-SHARING TO CLOSE ENFORCEMENT GAPS by making it easier for California courts to ensure that people who are deemed a threat to themselves or others no longer have access to firearms. 

    California’s history of gun violence prevention

    California has long led the way in enacting commonsense and effective protections against gun violence. California’s gun safety laws save lives. The Golden State is ranked #1 for gun safety and last year experienced a gun death rate 43% lower than the national average. In comparison, Texas and Florida, who ranked 31st and 24th respectively in gun law strength, had firearm mortality rates more than 1.5 times that of California. Since the early 1990s, California has cut its gun death rate in half. By 2022, California had the 7th lowest gun death rate in the country. If other states’ gun death mortality rates matched California’s, an estimated 140,000 Americans would still be alive today. 

    Nationwide, firearms kill more children and adolescents than any other cause. Compared to the rest of the nation, California has made substantial long-term progress in reducing per capita rates of youth firearm homicide. 

    Preliminary CDC data showed that in 2022, California’s age-adjusted per capita firearm homicide rate for youth under 25 was 45% below the rate recorded for the rest of the U.S. By contrast, the rest of the U.S. experienced a 37% increase in youth gun homicide rates over the same period. The next two most populous states after California – Florida and Texas – experienced substantial increases over this same period, with youth homicide rates rising by 24% in Florida and 49% in Texas. 

    The following measures have been signed into law:

    • AB 960 by Assemblymember Devon Mathis (R-Porterville) – School safety: web-based or app-based school safety programs
    • AB 1252 by Assemblymember Buffy Wicks (D-Oakland) – Office of Gun Violence Prevention
    • AB 1858 by Assemblymember Christopher Ward (D-San Diego) – Comprehensive school safety plans: active shooters: armed assailants: drills
    • AB 1974 by Assemblymember Cottie Petrie-Norris (D-Irvine) – Family conciliation courts: evaluator training (signed earlier this year)
    • AB 2565 by Assemblymember Kevin McCarty (D-Sacramento) – School facilities: interior locks
    • AB 2621 by Assemblymember Jesse Gabriel (D-Encino) – Law enforcement training
    • AB 2629 by Assemblymember Matt Haney (D-San Francisco) – Firearms: prohibited persons
    • AB 2642 by Assemblymember Marc Berman (D-Menlo Park) – Elections: intimidation
    • AB 2739 by Assemblymember Brian Maienschein (D-San Diego) – Firearms
    • AB 2759 by Assemblymember Cottie Petrie-Norris (D-Irvine)
    • AB 2822 by Assemblymember Jesse Gabriel (D-Encino) – Domestic violence
    • AB 2842 by Assemblymember Diane Papan (D-San Mateo) – Firearms
    • AB 2907 by Assemblymember Rick Chavez Zbur (D-Los Angeles) – Firearms: restrained persons
    • AB 2917 by Assemblymember Rick Chavez Zbur (D-Los Angeles) – Firearms: restraining orders
    • AB 3064 by Assemblymember Brian Maienschein (D-San Diego) –  Firearms
    • AB 3072 by Assemblymember Cottie Petrie-Norris (D-Irvine) — Child custody: ex parte orders (signed earlier this year)
    • AB 3083 by Assemblymember Tom Lackey —  Domestic violence: protective orders: background checks
    • SB 53 by Senator Anthony Portantino (D-Burbank) – Firearms: storage
    • SB 758 by Senator Thomas Umberg (D-Santa Ana) – Firearms
    • SB 899 by Senator Nancy Skinner (D-Berkeley) – Protective orders: firearms
    • SB 902 by Senator Richard D. Roth (D-Riverside) – Firearms: public safety
    • SB 965 by Senator Dave Min (D-Irvine) – Firearms
    • SB 1002 by Senator Catherine Blakespear (D-Encinitas) –Firearms: prohibited persons
    • SB 1019 by Senator Catherine Blakespear (D-Encinitas) – Firearms: destruction

    Recent news

    News What you need to know: Governor Newsom signed two bills to boost access to affordable housing for California’s farmworkers: AB 2240 and AB 3035. Governor Newsom also signed SB 1105 to help protect the health and safety of farmworkers in states of emergency….

    News What you need to know: Governor Newsom visited the community of East Orosi to help address its failing sewer system, giving the state more tools to step in, as well as signing clean drinking water bills. Since 2019, nearly 900,000 Californians have gotten…

    News What you need to know: New laws will strengthen consumer protections and help save Californians money. SACRAMENTO – Governor Gavin Newsom signed a package of bills that will strengthen protections for consumers, addressing issues that have put financial strain on…

    MIL OSI USA News

  • MIL-OSI Economics: Swaminathan J: Reaching the unreached – ensuring last mile connectivity of banking services

    Source: Bank for International Settlements

    Regional Director of RBI for Karnataka, Smt. Sonali Sen Gupta; Chief General Manager, NABARD, Shri KVSSLV Prasada Rao; Chief General Manager, Canara Bank and Convenor, SLBC Karnataka, Shri K.J. Shrikanth; Area Heads of Union Bank of India and Bank of Baroda, senior executives from banks; Lead District Managers (LDMs); District Development Managers (DDMs); LDOs and other officers of RBI, present here. Ellarigu Namaskara and a very good morning to all.

    Let me begin by complimenting Bengaluru Regional Office of the Reserve Bank of India for organising this conference with an apt theme – Reaching the Unreached – Ensuring Last Mile Connectivity of Banking Services. The theme reminds us that financial inclusion is an ongoing journey. While significant progress has been made in this journey, there is still some distance to be traversed. I must also thank the Bengaluru Regional Office for selecting this place, Hubballi, for this conference, a place where I served as a young officer of State Bank of India, some thirty years ago – which brings back lots of nostalgic memories of the basic banking that we used to do over three decades ago.

    India’s journey towards inclusive development after independence has been marked by several initiatives aimed at reducing poverty and improving living standards. Measures like expanding access to essential services such as education, healthcare and sanitation, and creating productive employment opportunities for all sections of the population have seen tremendous progress. Ensuring that the benefits of economic growth are shared by all segments of society, including marginalised groups has been the cornerstone of these initiatives. It has been a multifaceted journey with significant achievements in terms of economic growth, poverty alleviation, improvements in education and health care, etc.

    In the relatively early days of this journey, the Lead Bank Scheme was institutionalised in 1969 and since then the Scheme has served as an important tool in enhancing credit flow to the sectors that have been identified as national priority and to the underserved population of the country, boosting economic growth at all levels, e.g., block level, district level and state level.

    Over more than half a century since its inception, the Scheme has evolved in line with the development agenda for the country. The Lead Bank Scheme relies on a co-ordinated approach at all levels amongst banks, financial institutions and the government machinery for effective delivery of banking services to all sections of the economy. This co-ordinated approach has yielded significant results in terms of expanding banking access and improvement in the flow of priority sector credit.

    More recently it has also led to the expansion of digital payments with SLBCs taking the lead role in the objective of making every district in the country digitally enabled. I am happy to note that 354 districts are now digitally enabled. Ten states including Karnataka and six Union Territories have achieved 100 per cent coverage of districts under this initiative.

    Indeed, the Lead Bank Scheme can be a powerful tool to bring about transformative change. As LDMs, DDMs and LDOs, you are the very pillars on which this scheme rests, playing a crucial role in driving financial inclusion at grassroots level. Your efforts in extending banking services and credit access to underserved regions would undoubtedly bring immense satisfaction to all involved. Having served as the Convenor for the SLBC in Telangana, I can personally attest to the deep fulfilment that comes from making a tangible difference in people’s lives through the LBS fora.

    A common question we face is, are we doing enough? How much more remains to be done? In 2021, the Reserve Bank introduced the Financial Inclusion Index (FI-Index), which tracks progress across 97 indicators in three key dimensions: (i) Access (ii) Usage (iii) Quality. The Index which was at 53.9 in March 2021 now stands at 64.2 for March 2024 as a testimony to the efforts that has been put in by all of you.

    India has made significant strides in enhancing ‘access’ to banking and financial services, reaching even the most remote areas. However, there is still considerable ground to cover in deepening financial inclusion. This requires greater focus on promoting ‘usage’ and improving the ‘quality’ of services. In both these critical areas, the role of Lead District Managers from the banks and District Development Managers from NABARD is indispensable.

    In this context, I would like to outline a few key expectations.

    Know your district well

    Firstly, it is imperative that you cultivate a deep understanding of your respective districts-so, you should truly ‘Know Your Districts’ well. This knowledge will form a solid foundation for comprehensive district profiles, covering a wide range of critical data. Such profiles could include detailed demographic information, agricultural trends, banking penetration and activities, industrial profiles, and the various performance metrics under the Annual Credit Plans (ACP).

    Knowing your districts well, you can leverage upon data analytics and field surveys to gain insights into economic activities, local credit needs, and barriers to credit access. A holistic understanding of your district will enable you to identify gaps in financial inclusion, assess the credit needs of different sectors, and design targeted strategies for intervention. It will also help you to identify the root causes of the various issues observed in your districts. By staying attuned to your districts, you can provide invaluable feedback to the SLBCs, enabling the formulation of targeted and effective credit plans, and foster sustainable economic growth and development.

    Formulation of targeted and effective credit plans, a bottom up approach

    Secondly, building upon your strong understanding of your district, the formulation, monitoring, and implementation of Credit Plans must follow a granular bottom-up approach.

    The principal phase of credit planning is done by DDMs by preparing the Potential Linked Credit Plans (PLPs) for all the districts in the State by mapping credit potential under Priority Sector Lending (PSL). The preparation of PLPs involves assessment of block-wise and sector-wise potential. LDMs conceptualise the block credit plans at the grassroots level which aggregate into district credit plans, ultimately converging to shape the comprehensive state-level Annual Credit Plan. While doing so, target setting for credit disbursement needs to be aspirational while being realistic. LDMs must take into account the scope for lending indicated in the Potential Linked Plan as well as the past record of achievement in credit disbursement while formalising the credit plans for the blocks and districts under their charge.

    Address the gaps

    Thirdly, we need to address the remaining gaps. Although credit delivery to priority sectors has progressed over time, there is still significant work to be done especially with regard to Micro, Small and Medium Enterprises. Similarly, nearly half of Self-Help Groups (SHGs) are yet to be linked to formal credit, and a large proportion of small and marginal farmers still lack access to bank financing. Therefore, we must factor in the credit requirements of these segments in PLPs as well as in block and district-level credit strategies.

    MSMEs are crucial to India realising her demographic dividend. One of the key requirements in this regard is increasing the female labour participation rate. Various studies1 have shown that businesses with at least one women founder have a more inclusive work culture, employ more women than men and generate more revenue. However, less than 20 per cent of MSMEs are owned by women. Women entrepreneurs often encounter major hurdles, such as limited access to funding, societal barriers, and challenges in obtaining affordable finance.

    It is therefore crucial to bridge the gender gap. At the district level, this can be addressed by offering support to women-led enterprises through government-sponsored programmes and tailored banking schemes for women-owned businesses. Additionally, efforts must be made to raise awareness among potential women entrepreneurs about these opportunities and provide them with necessary guidance and support.

    Financial literacy

    Fourthly, we need to bolster financial literacy. Strengthening the supply-side is crucial, but holistic financial inclusion also necessitates demand-side initiatives. Financial literacy stands as a fundamental building block. It is not just about access, it is about empowering individuals to make informed choices. Financial literacy is the ability of people to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

    Members of public should be made aware of various financial products available to them, be it social security products such as insurance and pension schemes, which will cover their risks or loan products with significant subsidies that will enable them to undertake productive economic activities. A special focus needs to be given to Digital Financial Literacy for improving public confidence in undertaking digital transactions. This will enable banks to explore avenues for wider adoption of fintech, to provide seamless and frictionless credit.

    At the block level, financial literacy is being promoted through Centres for Financial Literacy (CFLs), established by NGOs with funding support from the RBI, NABARD, and banks. The reach of CFLs has expanded significantly, with 2,421 CFLs now operating across almost every block in the country. In Karnataka alone, 79 CFLs and 177 Financial Literacy Centres (FLCs) are spreading awareness of financial products at the grassroots level. LDMs must play a crucial role in ensuring that FLCs perform their functions effectively, supporting CFLs, participating in CFL camps, and facilitating the linkage of financial services while overseeing the proper conduct of these camps.

    In conclusion, I encourage you to give your best, set exemplary standards, and become pioneers in developmental activities, ensuring continued progress of your districts and the State of Karnataka.

    As you may be aware, the Reserve Bank of India is celebrating 90 years of its foundation this year. Looking ahead to the next decade, our journey towards RBI@100, we have formulated strategies aimed at positioning the Reserve Bank as a model central bank of the Global South. One of our key objectives is to deepen financial inclusion by enhancing the Accessibility, Availability, and Quality of financial services for all segments of society. I urge each of you to actively support us in realizing this vision by contributing to inclusive growth, ensuring that no one is left behind in accessing essential financial services, and fostering economic empowerment at the grassroots level.

    I would like to leave you with a quote from Rashtrakavi Kuvempu (an extract from his epic work “Malegaḷalli madumagaḷu”):

    ಇಲ್ಲಿಯಾರೂ ಮುಖ್ಯರಲ್ಲ
    Illi yaaroo mukhyaralla
    No one is precious here

    ಯಾರೂ ಅಮುಖ್ಯರಲ್ಲ
    Yaroo amukhyaralla
    No one is unimportant here

    ಇಲ್ಲಿ ಎಲ್ಲಕ್ಕೂ ಇದೆ ಅರ್ಥ
    Illi ellakkoo ide artha
    Everything has significance here

    ಯಾವುದೂ ಅಲ್ಲ ವ್ಯರ್ಥ
    Yavudoo alla vyartha
    Nothing is useless

    ನೀರೆಲ್ಲವೂ ತೀರ್ಥ!
    Neerellevoo theertha!
    All the water is holy!

    In the context of today’s gathering, it would mean: All groups of people are equally important and should be financially included; every effort taken for financial inclusion is meaningful and nothing goes wasted.

    With this I would like to end with my best wishes to each one of you. Thank you!


    MIL OSI Economics

  • MIL-OSI Economics: Michelle W Bowman: Recent views on monetary policy and the economic outlook

    Source: Bank for International Settlements

    Good morning. I would like to thank the Kentucky Bankers Association for the invitation to join you today for your annual convention.1 I appreciate the opportunity to share my views on the U.S. economy and monetary policy before we engage on community banking issues and other matters affecting the banking industry.

    In light of last week’s Federal Open Market Committee (FOMC) meeting, I will begin my remarks by providing some perspective on my vote and will then share my current views on the economy and monetary policy.

    Update on the Most Recent FOMC Meeting

    In order to address high inflation, for more than two years, the FOMC increased and held the federal funds rate at a restrictive level. At our September meeting, the FOMC voted to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent and to continue reducing the Federal Reserve’s securities holdings.

    As the post-meeting statement noted, I dissented from the FOMC’s decision, preferring instead to lower the target range for the federal funds rate by 1/4 percentage point to 5 to 5-1/4 percent. Last Friday, once our FOMC participant communications blackout period concluded, the Board of Governors released my statement explaining the decision to depart from the majority of the voting members. I agreed with the Committee’s assessment that, given the progress we have seen since the middle of 2023 on both lowering inflation and cooling the labor market, it was appropriate to reflect this progress by recalibrating the level of the federal funds rate and begin the process of moving toward a more neutral stance of policy. As my statement notes, I preferred a smaller initial cut in the policy rate while the U.S. economy remains strong and inflation remains a concern, despite recent progress.

    Economic Conditions and Outlook

    In recent months, we have seen some further progress on slowing the pace of inflation, with monthly readings lower than the elevated pace seen in the first three months of the year. The 12-month measure of core personal consumption expenditures (PCE) inflation, which provides a broader perspective than the more volatile higher-frequency readings, has moved down since April, although it came in at 2.6 percent in July, again remaining well above our 2 percent goal. In addition, the latest consumer and producer price index reports suggest that 12-month core PCE inflation in August was likely a touch above the July reading. The persistently high core inflation largely reflects pressures on housing prices, perhaps due in part to low inventories of affordable housing. The progress in lowering inflation since April is a welcome development, but core inflation is still uncomfortably above the Committee’s 2 percent goal.

    Prices remain much higher than before the pandemic, which continues to weigh on consumer sentiment. Higher prices have an outsized effect on lower- and moderate-income households, as these households devote a significantly larger share of income to food, energy, and housing. Prices for these spending categories have far outpaced overall inflation over the past few years.

    Economic growth moderated earlier this year after coming in stronger last year. Private domestic final purchases (PDFP) growth has been solid and slowed much less than gross domestic product (GDP), as the slowdown in GDP growth was partly driven by volatile categories including net exports, suggesting that underlying economic growth was stronger than GDP indicated. PDFP has continued to increase at a solid pace so far in the third quarter, despite some further weakening in housing activity, as retail sales have shown further robust gains in July and August.

    Although personal consumption has remained resilient, consumers appear to be pulling back on discretionary items and expenses, as evidenced in part by a decline in restaurant spending since late last year. Low- and moderate-income consumers no longer have extra savings to support this type of spending, and we have seen loan delinquency rates normalize from historically low levels during the pandemic.

    The most recent labor market report shows that payroll employment gains have slowed appreciably to a pace moderately above 100,000 per month over the three months ending in August. The unemployment rate edged down to 4.2 percent in August from 4.3 percent in July. While unemployment is notably higher than a year ago, it is still at a historically low level and below my and the Congressional Budget Office’s estimates of full employment.

    The labor market has loosened from the extremely tight conditions of the past few years. The ratio of job vacancies to unemployed workers has declined further to a touch below the historically elevated pre-pandemic level-a sign that the number of available workers and the number of available jobs have come into better balance. But there are still more available jobs than available workers, a condition that before 2018 has only occurred twice for a prolonged period since World War II, further signaling ongoing labor market strength despite the reported data.

    Although wage growth has slowed further in recent months, it remains indicative of a tight labor market. At just under 4 percent, as measured by both the employment cost index and average hourly earnings, wage gains are still above the pace consistent with our inflation goal given trend productivity growth.

    The rise in the unemployment rate this year largely reflects weaker hiring, as job seekers entering or re-entering the labor force are taking longer to find work, while layoffs remain low. In addition to some cooling in labor demand, there are other factors likely contributing the increased unemployment. A mismatch between the skills of the new workers and available jobs could further raise unemployment, suggesting that higher unemployment has been partly driven by the stronger supply of workers. It is also likely that some temporary factors contributed to the recent rise in the unemployment rate, as unemployment among working age teenagers sharply increased in August.

    Preference for a More Measured Recalibration of Policy

    The U.S. economy remains strong and core inflation remains uncomfortably above our 2 percent target. In light of these economic conditions, a few further considerations supported the case for a more measured approach in beginning the process to recalibrate our policy stance to remove restriction and move toward a more neutral setting.

    First, I was concerned that reducing the target range for the federal funds rate by 1/2 percentage point could be interpreted as a signal that the Committee sees some fragility or greater downside risks to the economy. In the current economic environment, with no clear signs of material weakening or fragility, in my view, beginning the rate-cutting cycle with a 1/4 percentage point move would have better reinforced the strength in economic conditions, while also confidently recognizing progress toward our goals. In my mind, a more measured approach would have avoided the risk of unintentionally signaling concerns about underlying economic conditions.

    Second, I was also concerned that reducing the policy rate by 1/2 percentage point could have led market participants to expect that the Committee would lower the target range by that same pace at future meetings until the policy rate approaches a neutral level. If this expectation had materialized, we could have seen an unwarranted decline in longer-term interest rates and broader financial conditions could become overly accommodative. This outcome could work against the Committee’s goal of returning inflation to our 2 percent target.

    I am pleased that Chair Powell directly addressed both of these concerns during the press conference following last week’s FOMC meeting.

    Third, there continues to be a considerable amount of pent-up demand and cash on the sidelines ready to be deployed as the path of interest rates moves down. Bringing the policy rate down too quickly carries the risk of unleashing that pent-up demand. A more measured approach would also avoid unnecessarily stoking demand and potentially reigniting inflationary pressures.

    Finally, in dialing back our restrictive stance of policy, we also need to be mindful of what the end point is likely to be. My estimate of the neutral rate is much higher than it was before the pandemic. Therefore, I think we are much closer to neutral than would have been the case under pre-pandemic conditions, and I did not see the peak stance of policy as restrictive to the same extent that my colleagues may have. With a higher estimate of neutral, for any given pace of rate reductions, we would arrive at our destination sooner.

    Ongoing Risks to the Outlook

    Turning to the risks to achieving our dual mandate, I continue to see greater risks to price stability, especially while the labor market continues to be near estimates of full employment. Although the labor market data have been showing signs of cooling in recent months, still-elevated wage growth, solid consumer spending, and resilient GDP growth are not consistent with a material economic weakening or fragility. My contacts also continue to mention that they are not planning layoffs and continue to have difficulty hiring. Therefore, I am taking less signal from the recent labor market data until there are clear trends indicating that both spending growth and the labor market have materially weakened. I suspect the recent immigration flows have and will continue to affect labor markets in ways that we do not yet fully understand and cannot yet accurately measure. In light of the dissonance created by conflicting economic signals, measurement challenges, and data revisions, I remain cautious about taking signal from only a limited set of real-time data releases.

    In my view, the upside risks to inflation remain prominent. Global supply chains continue to be susceptible to labor strikes and increased geopolitical tensions, which could result in inflationary effects on food, energy, and other commodity markets. Expansionary fiscal spending could also lead to inflationary risks, as could an increased demand for housing given the long-standing limited supply, especially of affordable housing. While it has not been my baseline outlook, I cannot rule out the risk that progress on inflation could continue to stall.

    Although it is important to recognize that there has been meaningful progress on lowering inflation, while core inflation remains around or above 2.5 percent, I see the risk that the Committee’s larger policy action could be interpreted as a premature declaration of victory on our price-stability mandate. Accomplishing our mission of returning to low and stable inflation at our 2 percent goal is necessary to foster a strong labor market and an economy that works for everyone in the longer term.

    In light of these considerations, I believe that, by moving at a measured pace toward a more neutral policy stance, we will be better positioned to achieve further progress in bringing inflation down to our 2 percent target, while closely watching the evolution of labor market conditions.

    The Path Forward

    Despite my dissent at the recent FOMC meeting, I respect and appreciate that my FOMC colleagues preferred to begin the reduction in the federal funds rate with a larger initial cut in the target range for the policy rate. I remain committed to working together with my colleagues to ensure that monetary policy is appropriately positioned to achieve our goals of attaining maximum employment and returning inflation to our 2 percent target.

    I will continue to monitor the incoming data and information as I assess the appropriate path of monetary policy, and I will remain cautious in my approach to adjusting the stance of policy going forward. It is important to note that monetary policy is not on a preset course. My colleagues and I will make our decisions at each FOMC meeting based on the incoming data and the implications for and risks to the outlook guided by the Fed’s dual-mandate goals of maximum employment and stable prices. We need to ensure that the public understands clearly how current and expected deviations of inflation and employment from our mandated goals inform our policy decisions.

    By the time of our next meeting in November, we will have received updated reports on inflation, employment, and economic activity. We may also have a better understanding of how developments in longer-term interest rates and broader financial conditions might influence the economic outlook.

    During the intermeeting period, I will continue to visit with a broad range of contacts to discuss economic conditions as I assess the appropriateness of our monetary policy stance. As I noted earlier, I continue to view inflation as a concern. In light of the upside risks that I just described, it remains necessary to pay close attention to the price-stability side of our mandate while being attentive to the risks of a material weakening in the labor market. My view continues to be that restoring price stability is essential for achieving maximum employment over the longer run. However, should the data evolve in a way that points to a material weakening in the labor market, I would support taking action and adjust monetary policy as needed while taking into account our inflation mandate.

    Closing Thoughts

    In closing, thank you again for welcoming me here today. It is a pleasure to join you and to have the opportunity to discuss my views on the economy and monetary policy. And given the recent FOMC meeting decision and my dissent, I appreciate being able to provide a more detailed explanation of the reasoning that led me to dissent in favor of a smaller reduction in the policy rate at last week’s FOMC meeting.

    I look forward to answering your questions and to engaging with your members on bank regulatory and supervisory matters.


    MIL OSI Economics

  • MIL-OSI Economics: Tiff Macklem: Economic growth during uncertain times

    Source: Bank for International Settlements

    Good afternoon. I want to thank the Institute of International Finance and the Canadian Bankers Association for inviting me to take part in your 2024 Forum.

    Your focus on growth during uncertainty is timely. Uncertainty feels like the new reality: The uncertainty caused by war in Europe and in the Middle East. The uncertainties arising from geopolitical tensions and economic fragmentation. And the related uncertainties about supply chains, trading relationships and global investment risks.

    Rapid advances in new technologies, particularly artificial intelligence (AI) and its new offspring, Generative-AI, are disrupting business models and creating new uncertainties for firms and workers.

    Uncertainty surrounds the impacts of climate change and the policy frameworks to adapt to and mitigate it.

    There is political uncertainty. And fiscal uncertainty.

    As your theme implies, uncertainty and economic growth do not sit well together: uncertainty impedes growth.

    But with inspired policy, good business decisions and sound risk management, we can manage uncertainty and reduce its impact on households, businesses and growth. We have recent historical evidence.

    Sixteen years ago this month, Lehman Brothers failed, and the financial system froze because nobody knew which banks were safe. Today, the global financial system is much safer thanks to the implementation of sweeping global reforms to increase capital and liquidity buffers, and reduce leverage.

    With the rapid development of new vaccines and with exceptional fiscal and monetary policies, uncertainty about our health and the health of our economies has decreased dramatically since the depths of the COVID-19 pandemic.

    Thanks to decisive monetary policy action and the unblocking of supply chains, uncertainty about costs and inflation are much lower today than two years ago, when inflation peaked above 8% in Canada and was even higher in many other countries.

    In the past few weeks, I have given speeches on the shifting global trade landscape and the economic implications and risks of rapid advances in artificial intelligence. These are two key areas where we can reduce uncertainty through good policy and far-sighted business leadership.

    At the same time, we need to recognize that new uncertainties are a new reality, and we must be ready for the inevitable shocks in a more turbulent world. That puts a priority on risk management and investments in resilience.

    A key function of financial institutions is to help households and businesses manage the risks they face. Financial institutions also have a responsibility to manage their own risks prudently so that they do not themselves become a source of uncertainty and instability.

    As Canada’s central bank, we have a role to play in mitigating and managing risks and uncertainty. Our primary mandate is price stability-in other words, low, stable and predictable inflation. We also have mandates to foster a stable financial system and ensure safe and efficient payments.

    Let me say a few words on financial stability and payments. And then I’ll finish with some thoughts on monetary policy.

    Our financial stability focus is on risks that could lead to system-wide stress. And we publish these findings in our annual Financial Stability Report (FSR).1

    In our most recent FSR, published in May, we reported that Canadian mortgage holders had experienced a modest increase in levels of financial stress. Since then, we’ve observed that arrears on mortgages have continued to rise, although they remain below pre-pandemic levels. It also appears that these households have not leaned on revolving credit products such as lines of credit and credit cards to a greater degree than before the pandemic.

    But there is a notable increase in financial stress among borrowers without a mortgage, mainly renters. During the pandemic, for most credit products, the share of these borrowers missing payments reached historical lows. However, we’re now seeing a larger share of these borrowers lagging behind on credit card and auto loan payments. Over the past year the share of borrowers without a mortgage who carry a credit card balance of at least 90% of their credit limit has continued to climb. And this share is now above typical historical levels. This is concerning.

    Our responsibilities related to payments require us to adapt to increasing digitalization. Innovation in payments continues to accelerate.

    In 2021, the Bank assumed a new mandate for the supervision of retail payment service providers. Starting November 1st of this year, more than 3,000 service providers will need to register with the Bank and follow new rules aimed at safeguarding consumers and protecting the integrity of retail payments.  

    We are also looking at the bigger picture of payment innovation, both in Canada and around the world. As part of this work, in the past few years we’ve built an extensive body of knowledge about the framework and technology behind a possible central bank digital currency (CBDC), including the benefits and risks.

    But recognizing that there is not currently a compelling case to move forward with a CBDC in Canada, the Bank is scaling down its work on a retail central bank digital currency and shifting its focus to broader payments system research and policy development. The Bank will continue to monitor global retail CBDC developments. And the Bank will be ready to ensure Canadians always have a safe and secure supply of public money.

    Now, let me circle back to monetary policy.

    In June, we began lowering our policy interest rate. We cut the policy rate at our last three decisions, for a cumulative decline of 75 basis points to 4.25%.

    Our most recent decision on September 4th reflected two main considerations.

    First, we noted that headline and core inflation had continued to ease as expected. Second, we said that as inflation gets closer to target, we want to see economic growth pick up to absorb the slack in the economy.

    Since then, we’ve been pleased to see inflation come all the way back to the 2% target. It has been a long journey. Now we want to keep inflation close to the centre of the 1%–3% inflation-control band. We need to stick the landing.

    What does this mean for interest rates? With the continued progress we’ve seen on inflation, it is reasonable to expect further cuts in our policy rate. The timing and pace will be determined by incoming data and our assessment of what those data mean for future inflation.

    As always, we try to be as clear as we can about what we are watching as we chart the course for monetary policy.

    Economic growth picked up in the first half of this year, and we want to see it strengthen further so that inflation stays close to the 2% target. Some recent indicators suggest growth may not be as strong as we expected. We will be closely watching consumer spending, as well as business hiring and investment.

    We will also be looking for continued easing in core inflation, which is still a little above 2%. Shelter cost inflation remains elevated but has started to come down, and we are looking for it to moderate further.

    Our next decision is October 23rd. And we will have a revised economic outlook at that time.

    With those introductory thoughts, let’s get the discussion started.

    I would like to thank Russell Barnett, Claudia Godbout and Brian Peterson for their help in preparing these remarks.


    MIL OSI Economics

  • MIL-OSI Economics: Alessandra Perrazzelli: Steering the transition to a quantum-safe world. An internationally coordinated approach

    Source: Bank for International Settlements

    Introduction

    Good morning and a very warm welcome to this important workshop on how to build a quantum-safe financial system.* I would like to start by thanking Prof. Cirac Sasturain and all the participants in the panel sessions for their insightful and thought-provoking contributions. Let me extend my gratitude to all the speakers, panellists, and attendees who have travelled from near and far to come here in Rome. Your presence and contributions are vital for the success of this workshop. I am confident that through our collective expertise and collaboration in the remainder of the workshop we will succeed in laying out actionable outcomes for steering the financial system’s transition towards a quantum-safe world.

    Quantum computing, as already noted by many speakers this morning, has the potential to revolutionize the financial system. Thanks to its unparalleled processing power and innovative capabilities, quantum computing can bring about a paradigm shift from the current ‘digital economy’ to a new era of ‘quantum economy’. Such shift encompasses unseen opportunities along with significant challenges for global financial markets, including – in particular – unbalanced access to technology and cybersecurity threats, which we must address with foresight and in a spirit of collaboration.

    As central banks and financial supervisors, we recognize the importance of striking a balance between steadfastly embracing technological changes on the one hand, and retaining a more cautious approach on the other, in light of the objective of safeguarding the stability, security, and integrity of our financial systems. It is part of our duty to promote and actively participate in the discussion on how to ensure the financial system’s transition to the quantum era in the safest possible way, considering the limitations of current technology.

    Quantum computing, while potentially threatening our system for secure communications, will also be instrumental in developing the solutions to restore resiliency in our financial system. In fact, quantum computing is bound to generate an unprecedented combination of opportunities, risks and uncertainties, which must be managed carefully in order to avoid market inertia and fragmentation, and to sustain an orderly and efficient transition to a quantum-safe world.

    With today’s workshop, we intend to launch a discussion on a possible path for steering the financial system’s migration to quantum resilience, within the framework of an internationally coordinated approach involving all the stakeholders: authorities, financial industry, technology providers and academia.

    1. The quantum financial system of the future: timeline, opportunities and risks

    The quantum revolution is already happening, although the exact timeline for its full deployment can hardly be predicted. Innovation in this field is characterized by pivotal and often unexpected transformative breakthroughs leading to sudden acceleration, and sustained by consistent and sizeable public and private investments. The explosion of artificial intelligence technologies, whose interplay with quantum computing holds the potential for both steering and accelerating the development of far-reaching solutions, is making this path even more unpredictable. Against this backdrop of high uncertainty, we expect that the quantum machine capacity necessary to give rise to a significant cybersecurity threat will be achieved in a foreseeable future.1

    The financial sector plays a dual role that enables it to look at the quantum phenomenon from two distinct perspectives: firstly, as a user, keen on embracing the capacity of quantum computing for innovation, and secondly, as a highly vulnerable target for quantum-powered cyberattacks.

    Although the use of quantum computing in the financial sector is still at an immature stage, experimental results already highlight its ability to improve key financial processes, such as risk and portfolio management, payment services and computationally intensive simulation-based tasks (e.g. analyses related to fraud detection and prevention, and anti-money laundering).

    Exploiting the benefits of quantum computing also presents unique challenges for financial institutions. Like other enabling technologies, quantum computing raises issues related to equitable access and market competitiveness; the full integration of this technology into legacy systems poses significant hurdles. Furthermore, the very nature of quantum computing entails a substantial paradigm shift in how financial services operate. Regulators must carefully navigate the new environment to support the smooth adoption and avoid misuse of these technologies from the private and public sectors.

    Quantum technologies also bring new risks for the financial sector. In particular, such technologies could be exploited to break the encryption algorithms currently underpinning the security of critical communication systems and digital assets.

    Critical financial infrastructures are among the main targets of cyberattacks based on quantum computing. They include the financial infrastructures of the future – which will support, for instance, central bank digital currencies and crypto-assets – as the two techniques of key encapsulation and digital signature currently used are both based on asymmetric encryption, which is vulnerable to the quantum threat. It will be of outmost importance to factor in the risks stemming from quantum computing when designing the central bank digital currencies.

    This risk is already on the table with the practice of ‘harvest now, decrypt later’ used by malicious actors. Information embedded in contracts currently in force needs to be kept secret for years to come. Even just the possibility that some of it will be exposed – as soon as the technology becomes available – is already a potential blow to trust.

    2. The state of the art: one problem, many potential technical approaches

    As we will see through the lunch session, some solutions to mitigate cyber issues are already available. The heart of cybersecurity lies in cryptography, which – from encrypting data to securing online transactions – is the guardian of our digital world.

    As the financial industry and governments prepare to protect against quantum threats, it is necessary that they become ‘crypto-agile’, adopting a multifaceted security strategy that incorporates a range of easily upgradable quantum-resistant solution. The showcase exercise that will be performed in this session will demonstrate that there are two different but complementary approaches that can be used in order to deal with quantum-safe cryptography.

    On the one hand, we can take advantage of quantum properties to establish secure communication channels between parties, where any attempt to eavesdrop or intercept the exchange of encryption keys is detected. On the other hand, considering that the cryptography involves the use of mathematical algorithms to transform readable data into encrypted data and vice versa, it is possible to replace the current algorithms (unbreakable now, but solvable with quantum computing) with others that are more difficult to solve, even for a quantum computer.

    Each one of these technologies – or a combination of them – will allow full end-to-end security in our digital communications. At the same time, however, these technologies are all extremely demanding in terms of time and resources. At the current state of the technology, embracing the quantum physics approach is estimated to impose costs of a higher order of magnitude, though it appears to provide a definitive solution to the quantum threat. The showcase exercise will demonstrate how some solutions already available to the market work, leveraging the points I have just mentioned.

    Clearly, this is not a technological dilemma that can be solved with a black-or-white answer, and what is optimal now may not be optimal in the medium or long term. Migrating the whole financial system toward a quantum-safe setup is a dynamic process requiring a multifaceted approach. Whatever strategy is chosen, though, we need to have interoperable solutions working at all times for the financial industry within a single jurisdiction and between different jurisdictions.

    3. Why authorities should act now

    Numerous public and private initiatives have been launched to develop what are known as ‘quantum-safe’ solutions. However, some key elements of uncertainty are hampering the market’s ability to effectively embrace the migration to quantum-resilient solutions.

    First, while the implementation timeline for the quantum threat is by no means certain, short-term risk mitigation costs are significant. Second, there is a lack of agreement on a sound migration approach and on suitable interoperable technical standards. Third, the regulatory and capability landscape is fragmented across jurisdictions. These are all obstacles to a timely and orderly transition.

    Despite growing awareness of the quantum threat, a comprehensive and widely shared action plan in this area remains elusive. The lack of harmonized regulations and of clear international guidelines and standards concerning the transition to a quantum-safe world may induce protracted inertia in the financial system’s migration efforts.

    The global nature of the financial system, the interconnectedness of intermediaries within the financial industry, and between them and the technology providers, call for public authorities to take a whole-of-government approach towards addressing the common threat posed by quantum technology. This includes fostering a dialogue between all relevant public and private stakeholders, aimed at establishing priority areas of intervention and ensuring a common path towards a quantum-safe economy through proactive cooperation and international coordination.

    A systematic approach involving all international stakeholders is particularly important for financial infrastructures, given their high interconnectedness. We need to protect all links of the chain, especially the weakest.

    4. A common path to a quantum-resilient financial system

    All these elements make the discussion on the migration strategy something that cannot be put off any longer. The importance of preparing the financial system for the transition to quantum computing is at the heart of this workshop. This is the right time to address the challenges of the transition to quantum computing, to agree on the respective roles of public authorities and of the private sector, and to take concrete action.

    To protect the financial system from the threats posed by quantum computing, the Bank of Italy is proposing – in the context of the ongoing work on risks from emerging technologies affecting the financial system that is being carried out in the G7 Finance Track – that G7 member countries jointly develop a ‘common roadmap for quantum resilience’, providing a unified policy framework for the actions needed to steer the transition to a quantum-safe financial system through an international cooperation approach.

    The roadmap should include all initiatives that are essential for a quantum-resilient financial system and could be implemented under the responsibility of different multinational organizations. The monitoring, coordination and governance of the overall roadmap should be undertaken at the highest political level. For example, a shared response at the level of G7 countries would provide a benchmark that could outline the way forward for other jurisdictions so as to cover, eventually, the global financial system.

    Whichever migration path we decide to adopt, it has to fulfil certain requirements. First, it needs to build on existing regulation in order to capitalize on best practices and, possibly, avoid over-regulation.

    Second, it will entail the standardization of the approaches taken to risk mitigation across jurisdictions, so as to enable synergies and speed up the transition, as the suppliers of technical solutions will work based on shared guidelines.

    Third, financial industry players as well as hardware and software providers must participate in the design of the strategy. Their involvement is necessary in order to devise a way forward that hinges on the best and most up-to-date technologies in a field where innovation is characterized by sudden accelerations.

    Fourth, preservation of interoperability and quality of services must remain the guiding principle of this transition process together with its gradual and safe implementation and with the principle of proportionality, to strike a balance between short-term fixes and long-term solutions. Continuous monitoring of the progress achieved and of the resources absorbed in this endeavour will be important: on this basis, the roadmap commitments can be reassessed along the way, including with respect to the timeline, by accelerating or delaying some milestones as needed.

    Finally, international coordination is a key aspect. The G7 Cyber Expert Group could be the right forum for operatively managing the quantum resilience migration roadmap, as well as for drafting policy guidelines. Other multinational institutions already involved in the adoption of quantum technologies in the financial system, such as the BIS and the standard setting bodies, could contribute proactively in defining guidelines and standards as cornerstones of the migration.

    Due to their critical role, financial markets and payment infrastructures, including those that will be supporting the central bank digital currencies, deserve particular attention. The CPMI-IOSCO could be the right organization to lead the work for the quantum resilience of these crucial nodes of the financial system.

    * * *

    Let me conclude by thanking you all for gathering today to discuss this extremely important topic. Hopefully, the discussion that we initiated today will continue in a fruitful way in the immediate future to deliver as quickly as possible a migration roadmap which can be embraced by all G7 members and possibly also shared with G20 and other countries for wider adoption.

    * I would like to thank Silvia Vori, Valerio Paolo Vacca, Giuseppe Bruno, Lorenzo Bencivelli, Mauro De Santis, Cristina Andriani, Sabina Marchetti, Antonio Castellucci and Giovanna Piantanida for their contributions to this speech.


    MIL OSI Economics

  • MIL-OSI Economics: Luigi Federico Signorini: Building a quantum-safe financial system – what role for authorities and for the private sector?

    Source: Bank for International Settlements

    Ladies and Gentlemen,

    It is my pleasure to open this seminar on the implications of quantum technology for the financial sector.

    Experts agree that we are on the eve of a very significant technological change: one that will redefine our approach to data and to the tools we use to process them, and may well revolutionise important, even critical, aspects of the way financial institutions operate.

    Like all significant technological advances, the quantum revolution comes with both promises and threats. Massively enhanced computational power, algorithms that are far more efficient than existing ones, and a much stronger base for artificial intelligence, are expected to offer opportunities for better and cheaper services, but they will also introduce new challenges, not least for financial stability.

    Central banks and financial institutions have often been early adopters of technological innovations. To preserve trust, institutions should continue to be bold and imaginative, but at the same time fully aware of the risks. Prudent supervisory guidance is needed to preserve the stability, security and integrity of the financial system. Our seminar will be an opportunity to go beyond generalities and explore the most likely concrete challenges and trade-offs we need to face in the quantum era.

    The Bank of Italy has a tradition of actively and rapidly adapting its policies to changes in the data management landscape. Drawing on our experience, we have long contributed to the action of the European System of Central Banks. We continue to work in partnership with academia and in cooperation with national and international institutions.

    The most immediate threat most of us currently perceive concerns the protection of the integrity and confidentiality of data. We feel that such a threat calls for a coordinated response, within the G7 and beyond. We shall take the opportunity of this workshop to share our experiences and ongoing work at the Bank of Italy and to present some real-life examples of useful and feasible cooperation at the national, European and global level. We encourage all participants to do the same.

    Since Peter Shor demonstrated, in 1994, that a quantum computer could theoretically solve problems much faster than traditional ones, he has inspired scientists all over the world to imagine the countless possibilities of this technology, and technologists to look for ways to actually build a functioning machine based on it. Thirty years on, while we still lack a fully functional and reliable quantum computer, we seem to be actually getting closer and closer.

    As the cybersecurity threat is serious but there are potential ways to fend it off, we cannot afford to wait. Implementing quantum-resistant cryptography tools before quantum computers become practically operational is crucial for data longevity. Sensitive data that are encrypted using today’s technology could be stored now by malicious agents and decrypted later, once quantum tools become available; upgrading cryptographic tools as soon as possible is therefore necessary to ensure long-term data security. This is especially relevant for financial institutions. Their core business is ultimately based on the ability to create, manage and use sensitive data, and it is not unlikely that the quantum revolution will hit the financial sector faster and more intensively than other industries.

    Awareness of the need to act is growing. In the spring of this year, the European Commission published a ‘Recommendation on a Coordinated Implementation Roadmap for the transition to Post-Quantum Cryptography’. In the US, the National Institute of Standards and Technology (NIST) officially released its first set of finalised post-quantum cryptography (PQC) algorithms last month. This is a major step forward.

    In the G7 Finance Track, the Italian presidency identified quantum computing as one of the key strategic cyber issues facing us. It may affect multiple policy areas, including national security, competitiveness, ethics, and skill development.

    While solutions to achieve quantum security are starting to become available, there are factors that can make market players reluctant to adopt them quickly. These include uncertainty about the actual urgency of the quantum threat, the fact that a common transition approach has not yet emerged, and the fragmentation of investments, responsibilities and regulatory frameworks across jurisdictions.

    The G7 has launched several technical initiatives to foster coordination among the main stakeholders. With today’s workshop, we aim to engage key experts in G7 countries, with a view to developing a shared understanding of the most urgent issues, a potential roadmap to address the transition to quantum resilience and, to the extent possible, an agreed policy agenda. We are fortunate today to have speakers and attendants from a wide range of backgrounds: academia, government institutions (including law-enforcement agencies), central banks, international organisations and the finance industry. This promises to be an ideal opportunity to exchange views, in that it brings together a set of distinguished experts with considerably diverse experience. I encourage all participants to be active, ask questions and share their insights.

    Ladies and gentlemen, we are also honoured to have Professor Juan Ignacio Cirac Sasturain with us today as a keynote speaker. As many of you will know, our speaker is one of the leading theorists in quantum computation. His contributions range from the physics of quantum computers to quantum algorithms and quantum information theory. Many here will be especially interested in his seminal work on quantum cryptography. Professor Cirac is the Director of the Theory Department at the Max Planck Institute of quantum optics in Garching bei München, Bavaria, and collaborates with many other academic institutions. He has received an impressive number of high-level awards, including the Prince of Asturias Award for Technical and Scientific Research (2006), the BBVA Frontiers of Knowledge Award (2008), the Benjamin Franklin Medal (2010), the Wolf Prize in Physics (2013), the Max Planck Medal (2018), and many others; more are sure to come. The subject of his talk is, very aptly, ‘opportunities and challenges of the next generation’s computers’. We are certain that his remarks on today’s central issue will set the stage for a very productive seminar.

    Please join me in welcoming Ignacio Cirac to the stage.

    MIL OSI Economics

  • MIL-OSI Translation: 24.09.2024 Breslavia “Reconstruction plus” – investments for the safety of all of us

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    El primer ministro Donald Tusk took part in a meeting of the crisis staff in Wrocław. The Prime Minister announced investments in flood protection infrastructure under the “Reconstruction plus” program, which will help reduce the scale of possible damage in the future. The government will also strengthen the Territorial Defense Forces, which have proven to be of great support in recent days. Crisis staff meeting in WrocławEl Primer Minister Donald Tusk returned to Lower Silesia after the meeting of the Council of Ministers to take part in the crisis staff meeting in Wrocław. The head of government asked for information important for citizens to be provided in the most transparent way possible. “I appreciate the professional information very much, of course, but today we have the opportunity to explain in an understandable way whether and what may threaten people in the event of a flood wave in those towns where “it is working at the moment,” the Prime Minister said to the representatives of the services present at the meeting. The Head of Government thanked all residents and services for the effort they put into strengthening security and rebuilding the areas affected by the flood. “Reconstruction plus” – ready for bold investments Program ” “Reconstruction plus” means new and better infrastructure that will help protect us against further natural disasters. “Nature will not change, or rather it will change for the worse. We will not be able to prevent such phenomena from occurring, but we must be better prepared for it. And here we have a very serious job to do,” the Prime Minister announced. The state and local governments will have to, among others: quickly develop necessary solutions for the future through public consultations. The result of this work will be investments that may seem burdensome to some – such as the construction of further reservoirs – but it is about our common safety. “We know well what would happen without the reservoir in Racibórz,” noted the Prime Minister. The government will take responsibility for making the decision. regarding needed investments. However, the Prime Minister asked local government officials for support in dialogue with residents. “We want you to participate very actively in the conversation and in convincing people. Para bromear also affects the interests of those who live there today and work there, and who may be flooded again in a year, in five, in seven years. We will have to make optimal decisions together,” explained the Prime Minister. The government will provide financing for investments in infrastructure. “Wisdom and political responsibility always require us to use such crises and disasters to intensively repair the reality around us,” concluded Donald Tusk. Conversations with residents should be honest so that everyone understands why certain actions are necessary. The Territorial Defense Forces passed the test. The Council of Ministers today adopted – in addition to the special act helping flood victims – a draft law supporting entrepreneurs who employ soldiers of the Territorial Defense Forces and Active Reserve. “The state appreciates those employers who, as part of corporate social responsibility, employ soldiers of the Territorial Defense Forces,” emphasized Deputy Minister of National Defense Władysław Kosiniak-Kamysz. The head of the Ministry of Defense presented the main solutions introduced by these regulations, including tax relief for companies employing Territorial Defense Forces soldiers. “Para bromear en este momento, in which it must be said very clearly – the Territorial Defense Forces have proven themselves in a critical situation in an unequivocally positive way” – concluded Donald Tusk. The state will strive to develop the Territorial Defense Forces and increase their effectiveness. Plan for the coming days Donald Tusk asked local government officials for precise information regarding their needs not only in the fight against the element, but also with its effects, e.g. in terms of waste disposal and collection. . But if you need other types of help – human, organizational, technical – I would ask for as detailed information as possible. We will bend over backwards to help you, not only by financing these very demanding projects,” declared the head of government. Water levels are falling in many places, but the services are still carefully monitoring the embankments and flood protection infrastructure. According to forecasts, today at midnight, for the first time in many days, the water in Wrocław will be below the alarm level. “It is too early to announce the end of the flood threat in Wrocław. The pressure on the embankments is, of course, present, but it is certainly a turning point – at least here in Lower Silesia” – Donald Tusk commented on the forecasts. The next meeting of the crisis staff in the capital of the Lower Silesian Voivodeship will be held on Tuesday at 8:00. Afterwards, the Prime Minister will return to Warsaw, where the government will submit information to the Sejm regarding actions taken during the flood. On Saturday, the Council of Ministers will again consider the state budget for next year. “I am talking about the necessary expenses related to repairing the effects of the flood. We will also want to make the first presentation of losses and, above all, how to overcome this collapse in many places and what projects we are preparing,” announced the head of government. In the following days, visits to the Lubuskie and West Pomeranian Voivodeships, where the flood wave is passing, will be possible.

    MILES AXIS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI: Eightco Announces $100 million Revenue Forecast – Releases 2025 Strategic Plan

    Source: GlobeNewswire (MIL-OSI)

    Improved Financial Condition Allows Focus on Revenue Growth & Profitability

    Easton, PA, Sept. 25, 2024 (GLOBE NEWSWIRE) — Eightco Holdings Inc. (NASDAQ: OCTO) (the “Company” or “Eightco”) is pleased to provide an update to its shareholders regarding its achievements year to date and 2025 initiatives.

    2024 Achievements

    The Company has made significant progress in 2024 by improving its balance sheet, most notably through the elimination of $5.4 million in convertible notes and increasing shareholder equity by $23 million. An aggregate of 5,846,627 dilutive shares related to warrants and convertible securities were cancelled in connection therewith, as well as several one-time accounting events.

    Operationally, during the 6 months ended June 30, 2024:

    • Gross profit margin was increased to 22%, versus 12% in the prior year period; and
    • SG&A was reduced to $6.9 million, down 23% from $9.0 million in the prior year period

    These improvements helped the Company regain compliance with two NASDAQ requirements, as was announced yesterday.

    2025 Plan

    The Company’s primary focus is the growth of its primary operating subsidiary, Forever 8 Fund LLC (“Forever 8”), which operates in two main areas: providing inventory solutions for small to mid-sized e-commerce sellers in the US & UK, as well as supplying refurbished Apple products for sellers in the UK and Europe. Forever 8 buys existing inventory from e-commerce sellers and commits to purchasing future inventory directly from their suppliers, maintaining specific inventory levels to enhance sales and growth. The sellers are invoiced after sales occur on a monthly basis, at which point Forever 8 charges them its cost plus a markup. Forever 8’s tech platform facilitates this entire process end-to-end, making it seamless and scalable.

    In the short term, the Company intends to seek additional non-dilutive senior debt financing to replace the capital used to repay its dilutive convertible notes in the first quarter of 2024. The Company currently has approximately 1.8 million shares outstanding. By deploying this capital, the Company aims to deliver 2025 revenues of $100 million, with the Company achieving positive EBITDA at the public company level. Such funding would also support further growth in 2025. Forever 8 believes it can deploy significant additional capital via its scalable platforms due to high inbound demand for its services from existing and new customers.

    Paul Vassilakos, CEO of Eightco and President of Forever 8, said “The Company is excited to focus on prioritizing the Forever 8 business to deliver growth and shareholder value through 2025. With regaining compliance with the NASDAQ rules behind us and a significantly improved balance sheet, we believe 2025 has the potential to be our best year since our inception in 2020.”

    About Eightco

    Eightco (NASDAQ: OCTO) is committed to growth of its subsidiaries, made up of Forever 8 Fund LLC, an inventory capital and management platform for e-commerce sellers, and Ferguson Containers, Inc., a provider of complete manufacturing and logistical solutions for product and packaging needs, through strategic management and investment. In addition, the Company is actively seeking new opportunities to add to its portfolio of technology solutions focused on the e-commerce ecosystem through strategic acquisitions. Through a combination of innovative strategies and focused execution, Eightco aims to create significant value and growth for its portfolio companies and stockholders.

    For additional information, please visit www.8co.holdings

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical fact could be deemed forward looking. Words such as “plans,” “expects,” “will,” “anticipates,” “continue,” “expand,” “advance,” “develop” “believes,” “guidance,” “target,” “may,” “remain,” “project,” “outlook,” “intend,” “estimate,” “could,” “should,” and other words and terms of similar meaning and expression are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements are based on management’s current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: Eightco’s ability to regain and maintain compliance with the Nasdaq’s continued listing requirements; unexpected costs, charges or expenses that reduce Eightco’s capital resources; Eightco’s inability to raise adequate capital to fund its business; the inability to innovate and attract users for Eightco’s and its subsidiaries’ products; future legislation and rulemaking negatively impacting digital assets; and shifting public and governmental positions on digital asset mining activity. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Eightco’s actual results to differ from those contained in forward-looking statements, see Eightco’s filings with the Securities and Exchange Commission (the “SEC”), including in its Annual Report on Form 10-K filed with the SEC on April 1, 2024, as amended. All information in this press release is as of the date of the release, and Eightco undertakes no duty to update this information or to publicly announce the results of any revisions to any of such statements to reflect future events or developments, except as required by law.

    For further information, please contact:
    Investor Relations
    investors@8co.holdings

    The MIL Network

  • MIL-OSI United Kingdom: The Kremlin could never have envisaged how war in Ukraine is developing: UK statement to the OSCE

    Source: United Kingdom – Executive Government & Departments

    UK military advisor, Nicholas Aucott, says the military situation is markedly different to what many expected two and a half years ago and this is a testament to the bravery and fortitude of the Ukrainian people.

    Thank you, Mr Chair. The present situation in the ongoing conflict between Russia and Ukraine is one that the Kremlin could hardly have envisaged when it embarked on its devasting war of aggression.

    Russia boasted that Ukraine would be defeated in a three-day lightning war, yet today marks two years and 219 days of this conflict. Ukraine now controls Russian territory in the Kursk Oblast. This is the first time that Russian territory has been held since the Second World War. We should be clear: this is a direct consequence of Russia’s illegal invasion and entirely consistent with Ukraine’s right to self-defence. To try and tackle this situation of its own making, Russia has been launching 50% of its glide bombs at its own territory, and on the neighbouring Sumy region of Ukraine.

    Since we met last week, on the evening of 17-18 September Ukraine conducted a successful attack on the Toropets strategic ammunition depot. Renovated in 2018, this was one of Russia’s largest strategic ammunition depots supporting Russia’s operation in Ukraine and housing ammunition of varying calibres, including ammunition procured from the DPRK.

    The resulting explosion recorded 2.7 on the Richter scale, equivalent to a mild earthquake. It forced Russia to declare a state of emergency, with the resulting fires 6 km wide and detectable from space. This was followed on 21 September by additional successful strikes on depots again in Toropets, and in Tikhoretsk. These Ukrainian strikes mark significant strategic setbacks for the Kremlin. The level of losses accounts for months of Russian ammunition expenditure rates.

    Moreover, Russia continues its attacks on Ukrainian civilian and energy infrastructure in an attempt to try and break the will of the Ukrainian people. Strikes in Ukraine’s central region of Poltava cut power to 20 settlements, whilst in Zaporizhzhia Oblast, an attack on Monday killed at least one person and injured seven, amongst them a 13 year old girl and a 15 year old boy.

    The military situation is markedly different to what many expected two and a half years ago and this is a testament to the bravery and fortitude of the Ukrainian people. But it is also critical that Ukraine continues to receive the support of allies and partners, diplomatically and militarily. The Kremlin would like to portray such support as a western conspiracy. But the reality is that the Russian state isolated itself from the moment it instigated an unprovoked, premeditated and barbaric attack against a sovereign democratic state. Furthermore, Russia has contravened international law and misled this Forum completely.

    The United Kingdom’s support to Ukraine is ironclad. To date the UK’s total military, economic and humanitarian support for Ukraine amounts to £12.8 billion, which includes £7.8 billion in military support. £3 billion in military aid has been pledged to Ukraine in 2024-25, a £700 million increase on 2023-24.

    The gap between Russia’s expectation of a three-day operation and the 943-day reality continues to grow. The Russian state has a clear path to prevent this metric from diverging further. It must cease hostilities and withdraw from Ukraine’s internationally recognised borders.  The United Kingdom, alongside its partners, will continue in its enduring support for Ukraine’s independence, sovereignty and territorial integrity. Thank you.

    Updates to this page

    Published 25 September 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Building climate resilience

    Source: Scottish Government

    Plan to help communities understand how climate change impacts their lives.  

    Communities and businesses across Scotland will be given support and tools to help tackle the unavoidable impacts of climate change as part of the Scottish Government’s new National Adaptation Plan.

    The Scottish National Adaptation Plan 2024-2029 (SNAP3) sets out a comprehensive suite of more than 200 actions and proposals for managing the current and future impacts of climate change in Scotland.

    Climate change means Scotland will experience more extreme weather. Flooding, water scarcity and hot weather can damage our environment, disrupt public transport and affect our supply of foods, vital goods and services. This means that households, communities, businesses and organisations across Scotland are having to consider the impacts of climate change more than ever. 

    It includes how sectors including agriculture, transport and health as well as businesses and communities will prepare for more extreme weather events, such as flooding, water scarcity and extreme periods of heat. These include:

    • £5.5 million of funding this year to complete a national network of Community Climate Action Hubs to drive locally-led climate action across Scotland
    • investing £400million investment to Scotland’s railway infrastructure to reduce weather-related disruption
    • facilitating peer-to-peer support to local governments and public services to prepare for the impacts of climate change for local populations
    • providing advice and support to businesses on how they can future proof their workplaces through practical check-lists on how to prepare for the impacts of climate change
    • ensuring the NHS Scotland estate is prepared and equipped to deal with extreme heat and flooding

    Launching the plan at a visit to the Restoring the River Leven project, First Minister John Swinney said: 

    “While we must ensure Scotland continues to play its part in addressing the causes of climate change, we must also be ready to deal with the impacts that are already locked in giving us wetter winters, drier summers and more weather-related disruption.

    “Our new Adaptation Plan is our most comprehensive response to protecting people’s lives and livelihoods against the risks of climate change – with over 200 actions to build climate resilience in our communities, businesses, public services and natural environment. 

    “I am proud to lead a Scotland that is driving forward the race to net zero, whilst ensuring that our country is ready for the impacts of climate change that we are already experiencing. This can be demonstrated through the Leven River Restoration Project, which has adapted the local landscape to help reduce the amount of flooding in the area, whilst restoring and encouraging wildlife and nature to flourish. It is a fantastic example of how collaborative working can use nature to adapt to the challenges we face at the same time as delivering benefit for the local community.” 

    Nicole Paterson, Chief Executive of the Scottish Environment protection Agency (SEPA), said:

    “Scotland’s natural environment is globally renowned and our water environment, as we can see in Leven today, is central to our environmental, economic and social success. Scotland’s water quality is at its highest level ever, with more than 87% of our water environment achieving good or high classification for water quality, with an ambition to go further.

    “Our climate is already changing and as Scotland’s environment agency, we’re at the forefront of working with partners to respond and adapt. The Water Environment Fund, including The Leven Project, is a very visible story for change and a great example of how public, private and community sector partners can successfully collaborate to improve water environments, boost flood resilience and deliver community benefits.

    “In Scotland’s Climate Week, it’s fitting that we hear directly from young people and community partner’s who’ve worked so hard locally and who’s future depends on the work that together we do today.”

    Fife Council Leader Councillor David Ross said:

    “Fife Council welcomes the Scottish Government’s new Climate Change Adaptation Plan, which marks an important step forward in the collective fight against climate change.

    “Much has changed since Fife Council declared a Climate Emergency in 2019 and, although we have made significant progress on a number of fronts, we are committed to helping our communities prepare for, and respond to, the effects of climate change.

    “The First Minister’s visit to the Restoring the River Leven project highlights the remarkable progress that can be achieved through strong partnership working, in this instance between Fife Council, SEPA, Fife Coast and Countryside Trust and local communities.

    “This close collaboration has also led to – and will lead to – additional benefits through the Levenmouth Connectivity Project, the Active Travel Network and River Park Routes as well as The River Park Project that sit alongside the restoration project as part of the wider Leven Programme.

    “Fife Council remains fully committed to leading the way in tackling climate change and we are proud to be part of initiatives that not only restore our natural environment but also build resilience for the future.”

    Jeremy Harris, CEO at Fife Coast and Countryside Trust, said: 

    “This project to restore the River Leven is a working example of different organisations coming together to deliver something that directly contributes to the outcomes laid out in the new Scottish National Adaptation Plan. The carefully considered interventions already under way will return the river to its more natural flowing state ensuring that nature connects through the Leven catchment and delivers direct benefits to the local communities.

    “Improved infrastructure with the river at its centre will serve the surrounding communities and enrich the lives of those who make use of it. At Fife Coast and Countryside Trust our mission is to connect environment and people and this river restoration project, running through the heart of Levenmouth, is a wonderful example of how to do just that. I look forward to seeing the natural world and local communities flourish thanks to this work for years to come.”

    Background  

    Scottish National Adaptation Plan 2024-2029 – gov.scot (www.gov.scot)

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: World Rivers Day 2024: Removing fish barriers across South West

    Source: United Kingdom – Executive Government & Departments

    Fish have been moving more freely thanks to joint efforts to remove manmade barriers blocking them from going home to spawn or reach vital habitats.

    Before and after a weir was removed from the River Camel Credit: Westcountry Rivers Trust

    World Rivers Day, which happens on the fourth Sunday of September, is a global event which celebrates rivers around the world – including the River Camel in Cornwall and River Tarrant in Dorset where the Environment Agency and partner organisations have worked hard to remove weirs in the past year.  Staff have also been investigating the River Teign to draw up a detailed map of 59 manmade structures and a further 79 obstacles to inform future action. 

    An Environment Agency spokesperson said:

    World Rivers Day is an excellent reminder to celebrate what we have and the vital work that is being undertaken to protect and improve our rivers   

    The cost of removing these legacy structures when demands on rivers were different are prohibitive. But thanks to partnership help from bodies like Westcountry Rivers Trust and Wessex Rivers Trust, we are overcoming these obstacles.  

    There are many pressures on fish including the iconic salmon which is seeing a global decline in numbers. Removing historic obstacles is one way to improve their future and enhance the environment that they live in.

    This weir on the River Camel was causing issues for fish Credit: Westcountry Rivers Trust

    How the River Camel looks now the weir has been removed Credit: Westcountry Rivers Trust

    Alongside removing obstacles in the river, initiatives like reducing the canopy of forested areas to let more light into habitats and slowing the flow of water with leaky dams have improved the environment for the wildlife dependent on both rivers.  

    Laurence Couldrick, Chief Executive Officer for Westcountry Rivers Trust, said:

    The two barrier removals on the upper River Camel have contributed to safeguarding this beautiful Cornish river and many of the protected species that rely on free-flowing rivers.   

    As well as removing barriers to fish passage this also provides numerous ecological benefits such as restoring natural flow regimes, improving sediment transport, improved water quality, enhanced biodiversity and improving climate resilience.

    A spokesperson for the National Trust said:

    Partnerships are a powerful tool to unlock benefits for our catchments and maximise the positive impacts of any project.   

    In priority rivers for Atlantic Salmon in the South West such as the Teign, Lemon and Plym we are working closely with the Environment Agency, Rivers Trusts and other partners to undertake monitoring, enhance habitats and remove or provide solutions to the presence of barriers, with wider benefits to local wildlife and communities.

    Background

    Read our World Rivers Day 2024 blog by our director of water about the biggest causes of river pollution.

    Updates to this page

    Published 25 September 2024

    MIL OSI United Kingdom

  • MIL-OSI Russia: Over six thousand Muscovites will begin resettlement under the renovation program in September and October

    MIL OSI Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    In September, residents of 12 buildings began moving into apartments under the renovation program. In the near future, city residents from another 13 old buildings will begin moving into new buildings. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    In September, 11 buildings built under the renovation program will be handed over for occupancy in the capital. More than six thousand Muscovites will move into them.

    “New buildings erected under the renovation program are located in six administrative districts. Thus, four residential complexes are located in the Eastern District, two new buildings are in the South-Eastern and Western Districts, and one building is in the Central, Southern and Northern administrative districts. More than 2.8 thousand apartments have been prepared for those moving,” Vladimir Efimov noted.

    Playgrounds, sports grounds and recreation areas are located near the houses. All residential complexes are designed taking into account the principle of a barrier-free environment, i.e. they are convenient for people with limited mobility and parents with baby carriages.

    The ground floors are non-residential premises. They are intended for commercial use – service facilities and other necessary infrastructure can be located there.

    “As part of the renovation program, 25 old houses will be resettled. City residents are moving within the boundaries of their district. For some, transport accessibility is improving. For example, future new residents in the Nagorny District are moving to a house in Elektrolitny Proyezd. It is located a three-minute walk from the Nagornaya metro station,” added the Minister of the Moscow Government, Head of the Department of Urban Development Policy

    Vladislav Ovchinsky.

    The move is being carried out in stages. The resettlement of residents of four old houses in the Nagorny district has now begun, two buildings are being vacated in the Voykovsky, Lyublino and Fili-Davydkovo districts. In addition, residents of one house in the Presnensky district and one in the Vostochny district are moving.

    As reported by the Minister of the Moscow Government, Head of the Department of City Property Maxim Gaman, offers of equivalent apartments have been sent to 1.9 thousand residents of old houses in six districts of the capital. They have already started to inspect the new housing. In addition, the mos.ru portal has a super service “Assistance with moving within the framework of the renovation program”Muscovites with a full account can choose the date and time for viewing the apartment online.

    Earlier Sergei Sobyanin reportedthat in September 11 houses will be handed over for settlement under the renovation program.

    Almost 20 thousand Muscovites have signed contracts for new apartments under the renovation program since the beginning of the year

    Renovation program housing was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. In 2023 alone, 59 new buildings in the capital were handed over for settlement and the resettlement of over 47 thousand people was ensured. Earlier, Sergei Sobyanin ordered to increase the pace of implementation of the renovation program has doubled.

    Moscow is one of the leaders among regions in terms of speed and volume of construction. Over the past few years, within the framework of the federal project “Housing” of the national project “Housing and Urban Environment” the volume of construction and commissioning of residential buildings in the capital has doubled – from three million to five to seven million square meters per year. More information about this and other national projects being implemented in Moscow can be found Here.

    Since the start of the renovation program, the number of launch pads has tripled

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/144420073/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News

  • MIL-OSI Translation: ASIA/LEBANON – Middle East Council of Churches: “global aggression” against Lebanon. Father Zgheib: village hit a few kilometers from the Maronite Patriarchate

    MIL OSI Translation. Region: Italy –

    Source: The Holy See in Italian

    UNHCR

    Beirut (Agenzia Fides) – The ongoing military escalation in Lebanon has turned “into a global aggression against various Lebanese regions, with the consequent sacrifice of thousands of citizens and the displacement of hundreds of thousands of people” from the southern part of the country and the Bekaa Valley. These are “crimes” that “indicate the contempt of the forces of aggression for the principles of international law, the rules of the Geneva Conventions and all the conventions that regulate armed conflicts”. This was denounced by the Middle East Council of Churches (MECC), the ecumenical body based in Beirut, which in a statement released yesterday also asked “the international community to intervene as soon as possible and to express a clear position condemning war crimes against civilians with the launching of raids, the systematic destruction of property and the interruption of food and health supplies”. Faced with the tragic events underway in Lebanon, the MECC held an emergency meeting of the General Secretariat, chaired by the Secretary General, the Lebanese Orthodox Christian professor Michel Abs. The participants of the meeting prayed together for peace and discussed “urgent humanitarian issues and ways to support families”. In the statement, without naming the Israeli army, the MECC “strongly condemns the killing of innocent people, children, women, elderly people and other civilians, and deplores the attacks conducted by the aggression forces on densely populated areas that led to the death of about 500 people in a single day and the displacement of hundreds of thousands of citizens from their settlement areas”. The text also calls for “providing international protection to civilians so that organizations and associations can provide them with the materials necessary for a dignified life”. During the meeting, the participants also set up a working group responsible for coordinating initiatives on the ground aimed at supporting families displaced from their areas. “We all live in a condition in which anguish, pain, anger and fear are mixed” Maronite priest Rouphael Zgheib, Director of the Lebanese Pontifical Mission Societies, tells Agenzia Fides and professor at the Jesuit Saint Joseph University. “The uncertainty about what awaits us also weighs on everything. We cannot understand who can stop all this, and if the attacks are just the beginning”. The bombings of the Israeli army are aimed at targets identified as possible bases of the Shiite Hezbollah Party. A strategy that has also been hitting small enclaves and Shiite villages in areas predominantly inhabited by Christians for days. “This morning” Father Rouphael Zgheib told Fides “the small Shiite village of Maaysra, in the Keserwan area, a historic settlement area of Catholic communities, was bombed. It is a village that is a few kilometers from the seat of the Maronite Patriarchate, in Bkerké”. The bombings in central Lebanon have the effect of spreading fear throughout the population. Mistrust and suspicion are also growing, after having transformed even personal pagers and walkie talkies into deadly devices has made it potentially dangerous to even speak or be near people belonging to the Shiite community, directly or indirectly connected to Hezbollah. “This situation of uncertainty,” adds Father Zgheib, “also affects relief efforts for the displaced and the injured. Hospitals are collapsing, they were not prepared to treat the number of people injured in the face and eyes by pagers that have become devices. Churches and schools are opening to welcome the displaced, there are many individual initiatives of solidarity with Christians and Muslims fleeing from the south and other affected areas. But this spontaneous solidarity coexists with feelings of mistrust. The propaganda and political polarizations of recent years have insinuated suspicion and unleashed mutual attacks between the different Parties who accuse each other of ‘betraying Lebanon’ and of being a disaster for the country. The economic crisis has also limited the willingness to help those in need. And this leads many to help only the members of their own family network and their own confessional group”. (GV) (Agenzia Fides 25/9/2024) Share:

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Video: Slow growth and the cost of debt: the World Bank’s Chief Economist on the global outlook

    Source: World Economic Forum (video statements)

    “The global economy – it’s a complicated picture, in the sense that it’s doing better than we expected just six months ago but it’s doing much worse than what it was doing six years ago.”

    World Bank Chief Economist Indermit Gill gives his assessment of the ‘glass half-full’ global economy.

    And as the World Economic Forum publishes the latest edition of its Chief Economists Outlook, the Forum’s Head of Economic Growth, Revival and Transformation, Aengus Collins, talks us through the highlights.
    Links:

    Chief Economists Outlook: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-world-bank-indermit-gill
    Related podcasts:

    How do we ensure the green transition doesn’t penalise the poorest? (https://www.weforum.org/podcasts/radio-davos/episodes/equitable-transition-climate/)

    Globalization is in transition – not retreat, says this analyst of global trade (https://www.weforum.org/podcasts/radio-davos/episodes/geopolitics-trade-amnc24/)

    The long game: how to understand China and how it sees its role in the world (https://www.weforum.org/podcasts/radio-davos/episodes/china-west-geopolitics-trade-marcus-herrmann/)

    Check out all our podcasts on wef.ch/podcasts (http://wef.ch/podcasts) :

    YouTube: (https://www.youtube.com/@wef/podcasts) – https://www.youtube.com/@wef/podcasts

    Radio Davos (https://www.weforum.org/podcasts/radio-davos) – subscribe (https://pod.link/1504682164) : https://pod.link/1504682164

    Meet the Leader (https://www.weforum.org/podcasts/meet-the-leader) – subscribe (https://pod.link/1534915560) : https://pod.link/1534915560

    Agenda Dialogues (https://www.weforum.org/podcasts/agenda-dialogues) – subscribe (https://pod.link/1574956552) : https://pod.link/1574956552

    Join the World Economic Forum Podcast Club (https://www.facebook.com/groups/wefpodcastclub) : https://www.facebook.com/groups/wefpodcastclub

    https://www.youtube.com/watch?v=5AR5sHZ89us

    MIL OSI Video

  • MIL-OSI United Kingdom: Flooding impacts from heavy rainfall from Monday 23 September

    Source: United Kingdom – Executive Government & Departments

    Heavy rain and thunderstorms from Monday 23 September have led to flooding in parts of England.

    Heavy rain and thunderstorms from Monday 23 September have led to flooding in parts of England. These impacts included a combination of surface water flooding and some river flooding. Around 200 properties were flooded across Hertfordshire, Bedfordshire, Northamptonshire, Kent and the Home Counties.

    Environment Agency staff remain out on the ground, clearing blockages and supporting local authorities in their response work.

    With unsettled conditions expected during the coming few days, further flooding is possible but not expected on Thursday and Friday, so we continue to urge people to keep an eye on the weather, check their flood risk, and take care planning their journeys.

    Kate Marks, Flood Duty Manager at the Environment Agency, said:

    Following this week’s heavy rain and thunderstorms, flood warnings and alerts remain in place across many parts of the country. The risk of further significant surface water flooding is also possible but not expected in parts of the country on Thursday and Friday.

    Environment Agency teams continue to be out on the ground, supporting local authorities in responding to surface water flooding. We urge people to plan their journeys carefully, follow the advice of local emergency services on the roads and not to drive through flood water – it is often deeper than it looks and just 30cm of flowing water is enough to float your car.

    People should check their flood risk, sign up for free flood warnings and keep up to date with the latest situation as well as following @EnvAgency on X, formerly Twitter, for the latest flood updates.

    The Environment Agency recognises the threat from surface water flooding and is taking action to improve the country’s resilience – for instance supporting local flood authorities to enhance local surface water flood risk mapping. See our blog on surface water flooding for more information.

    Updates to this page

    MIL OSI United Kingdom

  • MIL-OSI Europe: Statement by Antonio Tajani, Minister for Foreign Affairs and International Cooperation of Italy in his capacity as Chair of the G7 Foreign Ministers’ Meeting at the High-Level Week of the UN General Assembly (23 September 2024)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    1. Introduction

    In today’s meeting in New York, in the wake of the Summit of the Future, the G7 Foreign Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the High Representative of the European Union reiterated their commitment to upholding the rule of law, humanitarian principles and international law, including the Charter of the United Nations, and to protecting human rights and dignity for all individuals.

    They re-emphasized their determination to foster collective action in order to preserve peace and stability to address global challenges, such as the climate crisis and to advance the achievement of the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs).

    In doing so, the G7 members renewed their commitment to the promotion of free societies and democratic principles, where all persons can freely exercise their rights and freedoms.

    2. Summit for the Future

    In the spirit of the renewed determination to strengthen the multilateral system based on the UN Charter’s principles, as reflected in the Pact for the Future adopted at the Summit of the Future by world Leaders, the G7 members committed to continue working with countries and all relevant stakeholders within the UN system through dialogue, mutual understanding and respect in the pursuit of common solutions, with the aim of upholding and reforming the multilateral system so that it better reflects today’s world and is fit to respond to the complex global challenges of the future. They reaffirmed their commitment to work with all UN member states to strengthen the roles of the UNSG as well as the UNGA. They also recommitted to the reform of the UNSC.

    3. Steadfast Support to Ukraine

    The G7 members reaffirmed their unwavering support to Ukraine as it defends its freedom, sovereignty, independence, and territorial integrity, against Russia’s brutal and unjustifiable war of aggression. The G7 members strongly condemned Russia’s blatant breach of international law, including the UN Charter, and of the basic principles that underpin the international order. They strongly condemned the serious violations of international humanitarian law perpetrated by Russia’s forces in Ukraine, which have caused a devastating impact on the civilian population. Violence against civilians, including women, children, and prisoners of war is unacceptable.

    They expressed their outrage at Russia’s repeated attacks against critical infrastructure and they condemned in the strongest possible terms any targeting of civilian buildings and even hospitals. Ensuring the protection and resilience of Ukraine’s energy grid and its power generation capacity remains a fundamental and urgent priority as winter approaches. They welcomed the international conference on energy security held on August 22. .as well as the ongoing coordination of the G7 energy group. They reiterated their commitment to help Ukraine meet its urgent short-term financing needs, as well as support its long-term recovery and reconstruction priorities.

    Russia must end its war of aggression and pay for the damage it has caused to Ukraine. The G7 members reiterated their commitment to explore and use all possible lawful avenues by which Russia is made to meet those obligations.

    The launch of the Extraordinary Revenue Acceleration (ERA) Loans for Ukraine, as mandated by G7 leaders, will make available approximately USD 50 billion in additional funding to Ukraine that will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilization of Russian sovereign assets held in the European Union and other relevant jurisdictions.

    The G7 Foreign Ministers and the High Representative are working, together with Finance Ministers, to operationalize the G7 Leaders’ commitment by the end of the year. They will maintain solidarity in this commitment to providing this support to Ukraine. The G7 members confirmed that, consistent with all applicable laws and their respective legal systems, Russia’s sovereign assets in their jurisdictions will remain immobilized until Russia ends its aggression and pays for the damage it has caused to Ukraine.

    They also committed to strengthening the Ukraine Donor Platform to help coordinate the disbursal of funds and ensure they align with Ukraine’s highest priority needs at a pace it can effectively absorb. This will play a key role in advancing Ukraine’s reforms in line with its European path and in contributing to a successful Ukraine Recovery Conference to be held in Italy in 2025.

    Any use of nuclear weapons by Russia in the context of its war of aggression against Ukraine would be inadmissible. They therefore condemned in the strongest possible terms Russia’s irresponsible and threatening nuclear rhetoric, as well as its posture of strategic intimidation. They also expressed their deepest concern about the reported use of chemical weapons as well as riot control agents as a method of warfare by Russia in Ukraine.

    The G7 members remained committed to holding those responsible accountable for atrocities in Ukraine, in line with international law. They also condemned the seizures of foreign companies and called on Russia to reverse these measures and seek acceptable solutions with the companies targeted by them.

    They condemned Russia’s seizure and continued control and militarization of Zaporizhzhia nuclear power plant, which poses severe risks for nuclear safety and security, potentially affecting the entire international community. They reiterated their support to the International Atomic Energy Agency’s efforts directed at mitigating such risks.

    They underlined once again their support for Ukraine’s right of self-defense and reiterated their commitment to Ukraine’s long-term security, recalling the launch of the Ukraine Compact in Washington on 11 July 2024. They re-affirmed the intention to increasing industrial production and delivery capabilities to assist Ukraine’s self-defense. They highlighted their support to Ukraine in its efforts to modernize its armed forces and strengthen its own defense industry. They expressed their resolve to bolster Ukraine’s air defense capabilities to save lives and protect critical infrastructure.

    They remained committed to raising the costs of Russia’s war of aggression by building on the comprehensive package of sanctions and economic measures already in place. Though existing measures have had a significant impact on Russia’s war machine and ability to fund its invasion, its military is still posing a threat not just to Ukraine but also to international security.

    The G7 members expressed the intention to continue taking appropriate measures, consistent with their legal systems, against actors in China and in third countries that materially support Russia’s war machine, including financial institutions, and other entities that facilitate Russia’s acquisition of items for its defense industrial base.

    They expressed their intention to continue to apply significant pressure on Russian revenues from energy and other commodities. This will include improving the efficacy of the oil price cap policy by taking further steps to tighten compliance and enforcement, including against Russia’s shadow fleet, while working to maintain market stability.

    They especially emphasized the urgency to support Ukraine’s energy security, including by coordinating international assistance through the G7+Ukraine Energy Coordination Group. They underscored the importance to continue working with the Ukrainian authorities and International Financial Institutions through the Ukraine Donor Platform, and by mobilizing private investments and fostering participation of civil society.

    They highlighted the reality of millions of internally displaced Ukrainians and the importance of an inclusive rights-based, gender-responsive recovery, including the reintegration of veterans and civilians with disabilities, and to address the needs of women, children as well as other population groups who have been disproportionately affected by Russia’s war of aggression. They reiterated their condemnation of Russia’s unlawful deportation of Ukrainian children and welcomed coordinated efforts to secure their safe return. They called on Russia to release all persons it has unjustly detained and safely return all civilians it has illegally transferred or deported, starting with children. They welcomed the Ministerial Conference on the Human Dimension of Ukraine’s 10 point peace formula that will be hosted by Canada on October 30-31.

    They reiterated the need to support Ukraine’s agriculture sector, which is critical for global food supply, particularly for the most vulnerable nations, and called for unimpeded exports of grain, foodstuffs, fertilizers and inputs from Ukraine.

    They acknowledged the importance to involve the private sector in the sustainable economic recovery of Ukraine. They welcomed and underscored the significance of Ukraine itself continuing to implement domestic reform efforts, especially in the fields of anti-corruption, justice system reform, decentralization, and promotion of the rule of law. These endeavors are in line with the Euro-Atlantic path Ukraine has embraced. The G7 members were unanimous on the need to continue to support efforts of the Ukrainian government and people in these endeavors.

    They resolutely condemned Russia’s holding of illegitimate ‘elections’ in the occupied Ukrainian Autonomous Republic of Crimea and the city of Sevastopol. Russia’s actions once again demonstrate its blatant disregard for Ukraine’s territorial integrity, sovereignty and independence, and the UN Charter. They called on all members of the international community to refrain from recognizing Russia’s illegitimate actions.

    They welcomed the Summit on Peace in Ukraine that took place in Switzerland on June 15-16 and its focus on the key priorities needed to achieve a framework for peace based on international law, including the UN Charter and its principles, and respect for Ukraine’s sovereignty and territorial integrity. They remained committed to follow up on the Conference through constructive engagement with all international partners to reach a comprehensive, just and lasting peace.

    The G7 members acknowledged that Russia continues to expand its campaigns of foreign information manipulation and interference (FIMI). They condemned Russia’s use of FIMI to support its war of aggression against Ukraine. They reiterated their determination to bolster the G7 Rapid Response Mechanism by developing a collective response framework to counter foreign threats to democracies.

    4. Situation in the Middle East

    The G7 members reiterated their condemnation of Hamas’ horrendous attacks on October 7, 2023. 101 hostages are still in the hands of Hamas. They noted with deep concern the trend of escalatory violence in the Middle East and its repercussions on regional stability and on the lives of civilians shattered by this conflict, from the Gaza Strip to the Israeli-Lebanese Blue Line. Actions and counter-reactions risk magnifying this dangerous spiral of violence and dragging the entire Middle East into a broader regional conflict with unimaginable consequences. They called for a stop to the current destructive cycle, while emphasizing that no country stands to gain from a further escalation in the Middle East.

    They expressed their deep concern about the situation along the Blue Line. They recognized the essential stabilizing role played by the Lebanese Armed Forces and the UN Interim Force in Lebanon in mitigating that risk. They demanded the full implementation of UNSCR 1701 (2006) and urged that all relevant actors implement immediate measures towards de-escalation.

    The G7 members reaffirmed their strong support for the ongoing mediation efforts undertaken by the United States, Egypt and Qatar to reach a resolution between the parties to the conflict in Gaza. They reiterated their full commitment for the implementation of the UNSC Resolution 2735 (2024) and the comprehensive deal outlined by President Biden in May that would lead to an immediate ceasefire in Gaza, the release of all hostages, a significant and sustained increase in the flow of humanitarian assistance throughout Gaza, and an enduring end to the crisis, to secure a pathway to a two-state solution with a safe Israel alongside a sovereign Palestinian state. They urged the parties to the conflict to unequivocally accept the ceasefire proposal, stressing the need for countries in a position to directly influence the parties to cooperate in strengthening mediation efforts. They called for the full implementation of the terms of the ceasefire proposal without delay and without conditions.

    They called on all parties to fully comply with international law, including international humanitarian law. They expressed their deep alarm for the heavy toll this conflict has taken on civilians, deploring all losses of civilian lives equally and noting with great concern that, after nearly a year of hostilities and regional instability, it is mostly civilians, including women and children, who are paying the highest price. Protection of civilians must be an absolute priority for all parties at all times.

    The G7 members expressed concern at the unprecedented level of food insecurity affecting most of the population in the Gaza Strip. Securing full, rapid, safe, and unhindered humanitarian access in all its forms and through all relevant crossing points remains an absolute priority. They urged all parties to allow the unimpeded delivery of aid and ensure protection of humanitarian workers by properly implementing de-confliction measures. They recognized the crucial role played by UN agencies and other humanitarian actors in delivering assistance especially health care for the most vulnerable persons, including the polio vaccination campaign. They expressed their support for UNRWA to effectively uphold its mandate, emphasizing the vital role that the UN Agency plays.

    The G7 members reaffirmed their unwavering commitment, through reinvigorated efforts in the Middle East Peace Process, to the vision of a two-state solution where two democratic states, Israel and Palestine, live side by side in peace within secure and recognized borders, consistent with international law and relevant UN resolutions, and in this regard stress the importance of unifying the Gaza strip with the West Bank under Palestinian Authority. We note that mutual recognition, to include the recognition of a Palestinian state, at the appropriate time, would be a crucial component of that political process. They expressed their concern about the risk of weakening the Palestinian Authority and underlined the importance of maintaining economic stability in the West Bank. They welcomed the EU’s 400 million Euro emergency package for the Palestinian Authority. All parties must refrain from unilateral actions and from divisive statements that may undermine the prospect of a two-state solution, including the Israeli expansion of settlements and the “legalization” of settlement outposts. They condemned the rise in extremist settler violence committed against Palestinians, which undermines security and stability in the West Bank and threatens prospects for a lasting peace. They expressed their deep concern regarding the deteriorating security situation in the West Bank.

    They reiterated their commitment to working together – and with other international partners – to closely coordinate and institutionalize their support for civil society peacebuilding efforts, ensuring that they are part of a larger strategy to build the foundation necessary for a negotiated and lasting Israeli-Palestinian peace. The G7 members called on Iran to contribute to de-escalation of tensions in the region. They demanded that Iran cease its destabilizing actions in the Middle East. They underlined that they stand ready to adopt further sanctions or take other measures in response to further destabilizing initiatives.

    They reiterated their determination that Iran must never develop or acquire a nuclear weapon and that the G7 will continue working together, and with other international partners, to address Iran’s nuclear escalation. A diplomatic solution remains the best way to resolve this issue. As the IAEA remains unable to verify that Iran’s nuclear program is exclusively peaceful, they urged Iran’s leadership to cease and reverse nuclear activities that have no credible civilian justification and to cooperate with the IAEA without further delay to fully implement their legally binding safeguards agreement and their commitments under UNSCR 2231(2015).

    They condemned in the strongest possible terms Iran’s export and Russia’s procurement of Iranian ballistic missiles. Evidence that Iran has continued to transfer weaponry to Russia despite repeated international calls to stop represents a further escalation of Iran’s military support to Russia’s war of aggression against Ukraine. Russia has used Iranian weaponry such as UAVs to kill Ukrainian civilians and strike their critical infrastructure.

    They reiterated that Iran must immediately cease all support to Russia’s illegal and unjustifiable war against Ukraine and halt such transfers of ballistic missiles, UAVs and related technology, which constitute a direct threat to the Ukrainian people as well as European and international security more broadly.

    They reaffirmed their steadfast commitment to hold Iran to account for its unacceptable support for Russia’s illegal war in Ukraine that further undermines global security. In line with their previous statements on the matter, they underscored that they are already responding with new and significant measures.

    They also reiterated their deep concern about Iran’s human rights violations, especially against women and minority groups. They reiterated their call on Iran to allow access to the country to relevant UN Human Rights Council Special Procedures mandate holders.

    De-escalation efforts in the region must also include the immediate and unconditional termination of any attack by the Houthis against international and commercial vessels transiting the Gulf of Aden, the Bab al-Mandeb Strait and the Red Sea. The G7 members reiterated their strong condemnation of these attacks and the right of countries to defend their vessels from attacks. They called for the immediate release by the Houthis of the Galaxy Leader and its crew. They expressed their strong concern about the August 21 attack on the merchant vessel Sounion and the ongoing risk of an environmental catastrophe as salvage operations continue. They welcomed the efforts by the EU maritime operation Aspides and by the US-led Operation Prosperity Guardian to protect vital sea lanes. They appreciated the efforts of those countries that are committed to protect freedom of navigation and trade, as well as maritime security, in line with UNSCR 2722 (2024) and in accordance with international law.

    5. Fostering partnerships with African Countries

    The G7 members reaffirmed their commitment to support African nations in the pursuit of sustainable development as well as the creation of jobs and growth. The focus remains on fostering fair partnerships, built on shared principles, democratic values, local leadership, and practical initiatives.

    They reiterated their intention to align actions with the African Union’s Agenda 2063 and the specific needs of African countries, including plans to improve local and regional food security, infrastructure, trade, and agricultural productivity. They expressed their support for the implementation of the African Continental Free Trade Area, a crucial factor for Africa’s growth in the next decade.

    The G7 members emphasized the need to strengthen mutually beneficial cooperation with African countries and regional organizations. In addition to maintaining financial support for African nations, they expressed their determination to improve the coordination and effectiveness of G7 resources, mobilizing domestic resources and encouraging increased private investments.

    They welcomed the African Union’s permanent membership in the G20, and the creation of an additional Chair for Sub-Saharan Africa on the IMF Executive Board in November.

    They reaffirmed their commitment to the G20 Compact with Africa, a tool aimed at enhancing private investment, driving structural reforms, supporting local entrepreneurship, and fostering cooperation, particularly in the energy sector. The G7 Partnership for Global Infrastructure and Investment (PGII), and initiatives like the EU’s Global Gateway can contribute to promote sustainable, resilient, and economically viable infrastructure in Africa, ensuring transparency in project selection, procurement, and financing. In this framework, they welcomed Italy’s Mattei Plan for Africa.

    They recognized that sustainable development, peace and security and democracy go hand in hand, reaffirming their commitment to help African governments in strengthening democratic governance and respect for human rights, while addressing conditions conducive to terrorism, violent extremism, and instability.

    They expressed their deep concern about the destabilizing activities of the Kremlin-backed Wagner Group and other Russia-supported entities. They called for accountability for all those responsible for human rights violations and abuses.

    6. Indo-Pacific

    The G7 members reiterated their commitment to a free and open Indo-Pacific, based on the rule of law, which is inclusive, prosperous and secure, grounded on sovereignty, territorial integrity, peaceful resolution of disputes, fundamental freedoms and human rights. They reaffirmed the importance of working together with regional partners and organizations, notably the Association of Southeast Asian Nations (ASEAN). They reaffirmed their thorough support for ASEAN centrality and unity. They reaffirmed their intention to work to support Pacific Island Countries’ priorities, as articulated through the 2050 Strategy for the Blue Pacific Continent.

    As they seek constructive and stable relations with China, they recognized the importance of direct and candid engagement to express concerns and manage differences. They reaffirmed their readiness to cooperate with China to address global challenges. They expressed their deep concern at the China’s support to Russia. They called on China to step up efforts to promote international peace and security, and to press Russia to stop its military aggression and immediately, completely and unconditionally withdraw its troops from Ukraine. They encouraged China to support a comprehensive, just and lasting peace based on territorial integrity and the principles and purposes of the UN Charter, including through its direct dialogue with Ukraine. They also expressed their deep concern at China’s ongoing support for Russia’s defense industrial base, which is enabling Russia to maintain its illegal war in Ukraine and has significant and broad-based security implications. They called on China to cease the transfer of dual-use materials, including weapons components and equipment, that are inputs for Russia’s defense sector.

    They recognized the importance of China in global trade. However, they expressed their concerns about China’s persistent industrial targeting and comprehensive non-market policies and practices that are leading to global spillovers, market distortions and harmful overcapacity in a growing range of sectors, undermining our workers, industries and economic resilience and security, as well as impacting on currencies. The G7 members are not decoupling or turning inwards. They are de-risking and diversifying supply chains where necessary and appropriate and fostering resilience to economic coercion. They called on China to refrain from adopting export control measures, particularly on critical minerals, that could lead to significant supply chain disruptions. Together with partners, the G7 members will invest in building their respective industrial capacities, promote diversified and resilient supply chains, and reduce critical dependencies and vulnerabilities.

    They remained seriously concerned about the situation in the East and South China Seas and reiterated their strong opposition to any unilateral attempt to change the status quo by force or coercion. They reaffirmed that there is no legal basis for China’s expansive maritime claims in the South China Sea, and they reiterated their opposition to China’s militarization and coercive and intimidation activities in the South China Sea. They re-emphasized the universal and unified character of the United Nations Convention on the Law of the Sea (UNCLOS) and reaffirmed UNCLOS’s important role in setting out the legal framework that governs all activities in the oceans and the seas. They reiterated that the award rendered by the Arbitral Tribunal on 12 July 2016 is a significant milestone, which is legally binding upon the parties to those proceedings and a useful basis for peacefully resolving disputes between the parties. They reiterated their strong opposition to China’s dangerous use of coast guard and maritime militia in the South China Sea and its repeated obstruction of countries’ high seas freedom of navigation. They expressed deep concern about the dangerous and obstructive maneuvers, including water cannons and ramming, by the China Coast Guard and maritime militia against Philippines vessels.

    The G7 members reaffirmed that maintaining peace and stability across the Taiwan Strait is indispensable to international security and prosperity, and called for the peaceful resolution of cross-Strait issues. There is no change in the basic position of the G7 members on Taiwan, including stated One-China policies. They supported Taiwan’s meaningful participation in international organizations as a member where statehood is not a prerequisite and as an observer or guest where it is.

    They remained concerned by the human rights situation in China, including in Xinjiang and Tibet. They are also worried about the crackdown on Hong Kong’s autonomy and independent institutions, and ongoing erosion of rights and freedoms. They urged China and the Hong Kong authorities to act in accordance with their international commitments and applicable legal obligations.

    The G7 members strongly condemned North Korea’s continuing expansion of its unlawful nuclear and ballistic missile programs in violation of multiple UNSC resolutions and its continuous destabilizing activities. They reiterated their call for the complete denuclearization of the Korean Peninsula and demanded that North Korea abandons all its nuclear weapons, existing nuclear programs, and any other WMD and ballistic missile programs in a complete, verifiable and irreversible manner, in accordance with all relevant UNSC resolutions. They called on North Korea to return to dialogue to promote peace and stability in the Korean peninsula. They urged all UN Member States to fully implement all relevant UN Security Council resolutions. They reiterated their deep disappointment with Russia’s veto last March on the mandate renewal of the UNSC 1718 Committee Panel of Experts.

    They condemned in the strongest possible terms the increasing military cooperation between North Korea and Russia, including North Korea’s export and Russia’s procurement of North Korean ballistic missiles and munitions in direct violation of relevant UNSCRs, as well as Russia’s use of these missiles and munitions against Ukraine. They are also deeply concerned about the potential for any transfer of nuclear or ballistic missiles-related technology to North Korea, in violation of the relevant UNSCRs. They urged Russia and North Korea to immediately cease all such activities and abide by relevant UNSCRs. They urged North Korea to respect human rights, facilitate access for international humanitarian organizations, and resolve the abductions issue immediately.

    They called on China not to conduct or condone activities aimed at undermining the security and safety of our communities and the integrity of our democratic institutions, and to act in strict accordance with its obligations under the Vienna Convention on Diplomatic Relations and the Vienna Convention on Consular Relations.

    7. Regional Issues

    Venezuela

    The G7 members reiterated their deep concern about the situation in Venezuela, following the vote on July 28.

    They emphasized that the announced victory of Maduro lacks credibility and democratic legitimacy, as indicated by reports of the UN Panel of Experts and independent international observers as well as data published by the opposition. They underscored that it is essential for electoral results to be complete and independently verified to ensure respect for the will of the Venezuelan people.

    They expressed their outrage for the arrest warrant and constant threats to the security of Edmundo Gonzalez Urrutia, who decided to seek refuge in Spain. According to the above-mentioned independent reports, Edmundo Gonzalez Urrutia appears to have won the most votes.

    They urged Venezuelan representatives to cease all human rights violations and abuses, arbitrary detentions and widespread restrictions on fundamental freedoms, particularly affecting the political opposition, human rights defenders, and representatives of independent media and civil society. They called for the release of all political prisoners and for a path to freedom and democracy for the people of Venezuela.

    They urged the international community to keep Venezuela high on the diplomatic agenda and they expressed their support for efforts by regional partners to facilitate the Venezuelan-led democratic and peaceful transition that the people of Venezuela have clearly chosen in the polls.

    Haiti

    The G7 members expressed their determination to continue supporting Haitian institutions – including the Transitional Presidential Council (CPT) and the Government of Prime Minister Conille – in their commitment to create the necessary conditions of general security and stability for the convening, by February 2026, of free and fair elections. The expression of popular will would set the foundation for the full restoration of democracy and the rule of law in Haiti.

    They also expressed full support to the Multinational Security Support (MSS) mission, which is providing critical support to the Haitian National Police as they counter criminal gangs engaged in illicit trafficking and inflicting brutal violence upon the population.

    The G7 members emphasized the importance of continued support to the MSS mission through financial contributions to the UN Trust Fund as well as contributions in kind. They expressed their strong appreciation for the commitment of the Government of Kenya – which has already deployed 380 personnel on the ground – to support the Haitian National Police in restoring peace and security.

    They called on all countries that have committed to deploy their contingents to the MSS mission to do so as soon as possible, to consolidate the mission and its fundamental role in the Country. They called on Haiti’s partners to continue their humanitarian assistance to the Haitian people and to expedite their financial and in-kind contributions to the MSS mission to help ensure that the mission is resourced for success.

    They called also on the United Nations Security Council to consider a UN Peace Operation to maintain the security gains of the Haiti National Police and the MSS mission for holding free and fair elections and called on the Secretary-General accordingly to provide support.

    The G7 members welcomed the work of the G7 Working Group on Haiti in monitoring institutional, political, social and security developments in Haiti, with a view to supporting the stabilization of the country and the restoration of full democratic governance.

    Libya

    The G7 members reiterated their unwavering commitment to Libyan stability, sovereignty, independence and unity. They expressed deep concern about recent developments in the country, in particular those involving the leadership of the Central Bank of Libya and the High Council of State, which show the fragility and unsustainability of the present status quo. They urged relevant Libyan parties to rapidly reach the necessary compromises to begin to restore the institutional integrity of the Central Bank of Libya and its standing with the international financial community. They called on Libyan political actors to refrain from taking harmful unilateral actions that create further political tension and fragmentation and make the country vulnerable to harmful foreign interference.

    They noted advances made in the organization of local elections and they called for a free, fair and inclusive participation of all Libyans. It is now imperative to relaunch a Libyan-led and Libyan-owned political process facilitated by the UN towards free and fair presidential and parliamentary elections.

    They expressed their support and commended the efforts made by UNSMIL officer in charge Stephanie Koury in support of the stabilization of Libya. They called on the Secretary General to appoint a new Special Representative without delay.

    Sudan

    The G7 members reiterated their grave concern over the ongoing fighting, mass-displacement and famine in Sudan.

    They condemned the serious human rights violations and abuses against the civilian population, including widespread sexual and gender-based violence, as well as international humanitarian law violations by both sides to the conflict. They called for an immediate end to the escalating violence, which is creating further displacement, and urged the warring parties to ensure the protection of civilians. They reiterated their commitment to holding accountable all those responsible for violations of international law in Sudan.

    They condemned the emergence of famine in Sudan as a direct consequence of efforts to restrict access of humanitarian actors. They noted recent progress in relation to the re-opening of the Chad-Sudan Adre border crossing, in the wake of the Paris Conference and of the Geneva talks. They called for full, rapid, safe, and unhindered humanitarian access both into Sudan and across lines of conflict so aid can reach all those in need.

    They urged all parties to cease hostilities immediately and to engage in serious negotiations aimed at achieving a lasting ceasefire, humanitarian access and protection of civilians without pre-conditions.

    They called on external actors to refrain from fueling the conflict, to respect the UN arms embargo on Darfur, and to play a responsible role in resolving the crisis.

    They welcomed mediation efforts by regional and international actors and organizations to facilitate a durable peace for the country.

    Inclusive, national dialogue, aimed at restoring democracy, re-establishing and strengthening the civilian and representative institutions after the end of the conflict, is a prerequisite for lasting peace. The G7 Members emphasized that it is necessary for representatives of Sudanese civil society, including women, to be fully engaged in the reflection on the political future of the country.

    MIL OSI Europe News

  • MIL-OSI Russia: “Celebration of Creative Industries”: Telling Stories 2024 Festival Held at HSE

    MIL OSI Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Higher School of Economics

    It was dedicated to the 10th anniversary Faculty of Creative Industries HSE University. September 20 at the venues Center of Cultures Lectures, master classes, discussions, screenings of works and other activities were held at the HSE. Students, teachers and other faculty members, artists and media business leaders, as well as future applicants took part in them.

    The first Telling Stories festival took place in 2018 and since then it has usually been held for 1-3 days at the end of May. This time the dates have been changed, as it became part of the FCI anniversary program.

    Telling Stories “This is a celebration of the creative industries of the Higher School of Economics,” says the deputy dean of the FCI, director Institute for the Development of Creative Industries HSE Tatyana Rivchun. – It is a large program consisting of lectures, seminars, round tables, master classes, demonstrations of students’ work and much more. The best and completed works are selected, which are worth showing to a wide audience, including our future applicants.”

    All departments of the faculty demonstrate their achievements: Institute of Media, School of Design, School of Communications, Institute of Cinema and the Institute for the Development of Creative Industries. So the festival becomes a platform for interaction between students and teachers of various educational programs.

    “Here we have the opportunity to discuss issues that go beyond the interests of a particular school or institute,” explains Arseniy Meshcheryakov, head of the School of Design. “Creative industries are an interdisciplinary concept, so designers should communicate with advertisers, media people with filmmakers, and so on. The festival helps establish horizontal connections and the emergence of joint projects.”

    “I was delighted”

    Every year, the festival welcomes stars of the creative industries.

    This time, writer and screenwriter Alexander Tsypkin was among them. He held a screening and discussion of two of his short films, one of which, “Farewell, Beloved!”, was awarded the Russian Guild of Film Scholars and Film Critics prize at Kinotavr “For an original solution to the traditional theme of separation in the spirit of modern times.”

    “I really enjoyed interacting with the students. Not only did they ask great questions, but they also offered me creative ideas,” he said. “One young man reimagined the ending of the film ‘Farewell, Love!’ and I think his version is cooler than mine. I was amazed.”

    The discussion “From Cannes Lions Winners to Russian Masterpieces,” dedicated to storytelling techniques in advertising videos, was moderated by Vladimir Evstafiev, a professor at the HSE School of Communications and a legend in the Russian advertising industry.

    “I like the HSE auditorium, and as a teacher I consider it one of the most interesting for communication,” said Vladimir Evstafyev. “Advanced and interested students study here, who want to know, think and understand meanings. All the questions were to the point, and not a single person left the room.”

    Together with the master, Guzella Nikolaishvili, president of the LIME social advertising and communications festival, also held at the FKI, took part in the conversation with the students. “We showed a brilliant work – a social video that won one of the seasons. The viewers were able to see that social advertising is a special art,” added Vladimir Evstafiev, head of the LIME jury.

    “A Surge of Creativity”

    The lecture by Igor Kirikchi, a well-known media manager and CEO of the advertising and communications group BBDO Moscow, was devoted to creativity in advertising. He gave a definition according to which creativity is, among other things, a person’s ability to deviate from standard rules, ideas and templates, and put forward the thesis that creativity determines the effectiveness of advertising campaigns.

    “The modern history of Russian advertising began in 1989 and in the 1990s it was marked by a surge of creativity,” said Igor Kirikchi. “It may seem strange to you, but even a fan factory was among the advertisers. Financial pyramids were advertised – “MMM”, “Khoper-Invest”, as well as the bank “Imperial”, vodka “White Eagle”, Herschi Cola and much more. This advertising was remembered by people who lived in those times, because it was original, sometimes a little primitive, sometimes naive, but quite interesting.”

    The lobby of the Center of Culture hosted the All-Russian creative competition “Advertising Designer,” which is held annually by the School of Communications at the National Research University Higher School of Economics.

    “In the tenth grade, I took part in the first ever “Advertising Designer” competition, not suspecting that it would help me at the start and when choosing a profession,” shared Arina Torubarova, a student at the Faculty of Culture and Information Technologies. “I was very interested in the topic of museums, and I made a video about the favorite museums of my peers. In it, I showed that culture and museum work are not boring, that this is a real cultural field where there is room for creativity and a modern approach. I took a camera from my father, edited the video and won. Now I am studying at the Higher School of Economics.”

    Film about the temple

    One of the key events of the festival was the screening of the documentary film “Remember What You Want to Forget”, dedicated to the 20th anniversary of the tragedy in Beslan. The authors focused on the Church of the Resurrection of Christ, located next to School No. 1. The heroes of the film were school teachers, former hostages, parents who lost their children, and icon painters.

    Before the screening, the authors of the film, 4th-year students of the educational program “Journalism» HSE Institute of Media Arina Korosteleva and Maxim Selivanov — told about the history of its creation and promotion. They especially noted the role of the senior lecturer of the Institute of Media Alexander Dyukov, who took over the leadership of this project. On September 1, 2024, the premiere of the film took place on the Spas TV channel.

    The students emphasized that the work on the film was completed with the support of the FKI – with a grant from the HSE this summer they went on a second trip to Beslan, which made it possible to make the film long and multifaceted. “If you want to realize your idea and you need advice on how to fill out an application for a grant, contact us, we will be happy to explain everything,” Arina Korosteleva told the meeting participants.

    After the premiere, it was possible to speed up the collection of funds to complete the construction and painting of the temple. You can find out more about how the students worked on the film Here.

    Chekhov and Shakespeare

    The festival program also included screenings of feature films shot by students of the HSE Film Institute. There was also a screening of the play “The Seagull”, prepared last year by second-year students. The director was the academic director of the educational program “Actor» Igor Sharoiko.

    The play’s protagonist is a young director, Kostya Treplev. In order to understand his fate, he decides to stage a play through the prism of his memories and finds similarities between his life and Shakespeare’s play “Hamlet”. In particular, he finds out that his family’s quiet life has ceased to be so because of his father.

    The genre of the play is a combination of physical theatre, when the actors’ movements dominate the text, and modern drama. True connoisseurs recognized not only Chekhov and Shakespeare, but also contemporary figures of theatrical art in the lines heard from the stage.

    Actor Sergey Bolgar, a student at the Institute of Cinema, told how the work on the play went. “Each student brought a sketch, paired or single. Based on them, we put together a physical theater play. Each movement has its own subtext,” he explained.

    “For us, performing at the festival with the play “The Seagull” is a happy opportunity to show what we do,” says Igor Sharoiko. “In addition, this is a popularization of physical theater, which exists in Russia, but is rarely talked about. Young artists enter the territory of an expressive language, which requires words to a lesser extent, and to a greater extent – their psychophysical expression, as well as plastic skills.”

    “Camera, action!”

    The festival program also featured student works in the short film and animation genres.

    The School of Design showed the audience a selection of animated films that combined minimalist motion design and animation created using traditional, hand-made materials. Nikolai Kovalenko, a graduate of Ivan Tverdovsky’s workshop at the School of Design, presented the film “Lelera” to the guests. This work was awarded the Grand Prix of the 31st Open Festival of Student and Debut Films “Saint Anne”. Alexandra Persheeva, academic director of the educational program “Contemporary art“.

    Students of the Institute for the Development of Creative Industries Danil Popov and Alena Semirikova recorded a special episode of the program “Perspective” with the guests of the festival. “This is a podcast from students for students, in which we, together with experts, discuss what creative industries are,” they explained.

    AI and designers

    The authors of the Telling Stories 2024 program could not leave aside the topic of artificial intelligence. It was the subject of a discussion organized by the School of Design. The participants — famous artists and designers — were asked to answer the question of how the paradigm of their work is changing in the era of AI.

    According to digital artist Andrey Maksimov, there are very few players left in the design industry who do not use neural networks. “Everyone chooses what a neural network will be for them – an assistant in some work or a powerful tool for implementing visual ideas. This, of course, makes work easier and helps in self-expression,” he explained.

    Arseniy Meshcheryakov stated that the use of AI will lead to increased competition in the field of art and design.

    “Previously, you could say: “I learned to draw a plaster head in art school, look what a master I am,” but today it is nonsense. You need to create a comprehensive project that for some reason will be in demand by your audience, consumer, customer. And this clashes with what is happening in education in the era of ChatGPT, when there is no point in exams based on tickets, and students need to develop their horizons, system of views, and the ability to implement projects,” says the head of the School of Design.

    What’s next?

    As Tatyana Rivchun noted, other events dedicated to the 10th anniversary of the FCI are also being held under the Telling Stories festival brand this year. In particular, the School of Design and the School of Communications are planning to organize them in the coming months.

    “Our faculty is a whole universe of creativity, full of stars. Each of them is constantly growing and shining brighter. Every year new stars appear. Due to this, our FCI universe is expanding. We hope that it will give birth to other galaxies and dimensions in the field of creative industries, and our festival will involve new participants from all over the world in its orbit,” added Tatyana Rivchun.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.hse.ru/nevs/life/966313170.html

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News

  • MIL-OSI USA: Understanding Mosquito-Borne Diseases in Connecticut

    Source: US State of Connecticut

    Despite the gradual arrival of fall, mosquitos are still active in our state. Paulo Verardi, professor of virology and vaccinology and head of the Department of Pathobiology and Veterinary Science, shares information that can keep Connecticut residents safe from mosquito-borne diseases.

    What types of mosquito-borne diseases are we seeing in Connecticut?

    Mosquito-borne diseases are spread by the bite of infected mosquitoes. In Connecticut, one would immediately think of West Nile virus, by far the most common mosquito-borne virus in the region. However, we have

    additional viruses transmitted by mosquitoes, such as Eastern Equine Encephalitis (EEE) virus, Jamestown Canyon virus, and Cache Valley virus, that luckily are less common. Sometimes Connecticut has imported cases of additional mosquito-borne diseases, such as dengue fever and Zika virus disease. These are acquired when people travel to areas where the virus is circulating, get bitten by an infected mosquito, and then travel back to Connecticut. If you are traveling outside the country in areas like the Caribbean and Central or South America, you should also be aware of chikungunya virus, yellow fever virus, and Oropouche virus, to name a few.

    Why are these diseases appearing more frequently in the state?

    Cases are linked to the proliferation of mosquitoes, which is driven by several factors including precipitation and temperature patterns, as well as alterations in these patterns. Climatic changes seem to also be impacting the distribution of these diseases, especially because warmer temperatures can promote a wider geographical range of disease-transmitting mosquitoes.

    West Nile virus has been in Connecticut since 1999, when it was introduced in New York City, so it is relatively new. On the other hand, evidence of EEE in Massachusetts dates back almost 200 years, and thus it is considered a local disease. West Nile cases in people are not uncommon during every mosquito season, but EEE seems to be impactful only every few years, such as in 2019 when a larger outbreak last occurred.

    West Nile and EEE viruses are actually maintained in nature in reservoir hosts, typically birds, and therefore these are considered zoonotic diseases. This means that the interplay amongst people, animals, plants, and the environment is a major factor determining the prevalence and transmission of these diseases, in what we call the One Health concept.

    What times of year do we need to be concerned about mosquito-borne diseases?

    We ought to be concerned any time of the year when mosquitoes are up and about. Generally, we think of the hot summer months, but transmission can start in the spring and last well into the fall season. A good example is EEE, as cases typically peak in late summer, but transmission can occur as late as October.

    What are the symptoms of these diseases?

    Diseases like West Nile and EEE are caused by viruses, so flu-like symptoms are typical:  fever, headache, fatigue, and in some instances rashes. Most people may not even feel sick at all, while a few others may end up developing inflammation of the brain (encephalitis) or of the membranes around the brain and the spinal cord (meningitis), leading to severe disease symptoms.

    What should someone do if they are sick?

    First, never assume that you may just have a cold, and pay attention to the severity of your symptoms. Consult a health care provider if symptoms do not improve, particularly if you have high fever and headache. Go immediately to an emergency room if symptoms become severe and you suspect any neurological involvement. The key is to be vigilant and proactive.

    It is noteworthy that horses with EEE are severely affected with up to 95% mortality (about half that rate for West Nile fever), and routine vaccination of horses for both diseases is recommended.

    How dangerous/deadly are these diseases?

    Fortunately, for most of us infections are self-contained. Our immune system can keep the invading viruses in check, and all you may experience are mild flu-like symptoms, if any. But symptoms can be more severe and can worsen very quickly. Pay attention to any rashes or severe symptoms, such as high fever, intense headache, stiffness of the neck, and other neurological problems. Encephalitis and meningitis are dangerous and life-threating complications, so a visit to the emergency room is necessary at the onset of neurological signs.

    What actions are state and local governments taking to help?

    Connecticut’s Department of Public Health (DPH) and Department of Agriculture (DoAg) are monitoring the situation in Connecticut and surrounding states closely. The Connecticut Agricultural Experiment Station (CAES) is doing surveillance of mosquitoes, and the Connecticut Veterinary Medical Diagnostic Laboratory (CVMDL) at UConn is monitoring wild and domestic animals (mammals and birds). In some cases, agencies may decide to curtail outdoor activities in certain areas at dusk, as Connecticut did in 2019 when we had high activity of EEE in Eastern Connecticut CT and neighboring states, and mosquito spraying may be recommended in limited areas by the Connecticut’s Department of Energy and Environmental Protection (DEEP).

    How can Connecticut residents protect themselves and help stop the spread of these diseases?

    By preventing mosquito bites:

    • Avoid outdoor activities during dusk and dawn, when mosquitoes are most active
    • Use approved insect repellents
    • Wear long-sleeved shirts and pants when outside
    • Keep mosquitoes out of your house with the appropriate use of window and door screens.

    One can also treat clothing and gear with permethrin, which will help repel both mosquitoes and ticks. Vaccines against some mosquito-borne illnesses such as dengue, yellow fever, chikungunya, and Japanese encephalitis are available for people traveling to high-risk areas. Visit the Center for Disease Control and Prevention (CDC) Traveler’s Health site for further information.

    This work relates to CAHNR’s Strategic Vision area focused on Enhancing Health and Well-Being Locally, Nationally, and Globally.

    Follow UConn CAHNR on social media

    MIL OSI USA News

  • MIL-OSI Translation: DDPS and municipalities agree on reference values for the introduction of the F-35A at Payerne Air Base

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Department of Defence, Civil Protection and Sport

    Bern, 25.09.2024 – The DDPS and the municipalities around the Payerne Air Base have been in discussions for some time about the economic development of the airfield and the noise pollution that will be caused by the new F-35A fighter jet. An agreement was reached on the reference values for the further procedure during a meeting attended by the President of the Swiss Confederation Viola Amherd, the municipalities concerned, the Regional Community of Broye (COREB) and the Association for the Protection of the Interests of the Municipalities Bordering the Airfield (ASIC). The calculations of the exposure to noise pollution take into account 4,200 take-offs and landings, and no training flights with F-35As will take place on Monday morning and Friday afternoon. The DDPS is setting up two working groups: one with a view to creating a training centre for aeronautical maintenance professions and the other to identify possibilities for developing and establishing jobs in the region. By withdrawing their preventive opposition, the municipalities are allowing the construction of the F-35A training centre for pilots and ground staff, which should offer around forty additional jobs in Payerne.

    In February 2022, the DDPS informed the municipalities around the Payerne Air Base of the results of the noise measurements carried out during the evaluation of the new combat aircraft and presented them with the calculations in December 2023. It then launched a coordination process to prepare the adaptation of the military sector plan. In this context, the stakeholders are discussing, among other things, the noise calculations and the air base regulations. For the calculations, the stakeholders agreed on a basis of 4,200 take-offs and landings. This represents around half of the current air movements and corresponds to the forecasts for the actual flight service contained in the summary report on noise measurements of February 2022. Annual fluctuations in actual air movements are not to be taken into account. By reducing the number of air movements, the Air Force will concentrate the flight service of the combat aircraft over time. No regular training with F-35As will take place on Monday mornings and Friday afternoons. The noise pollution register and regulations will be drawn up on the basis of these values and harmonised with the municipalities. In this regard, the DDPS will continue to examine and implement noise pollution reduction measures where possible.

    For the region, it is important that the continued development of Payerne as the main air base of the Air Force generates economic benefits for the region. This is why several discussions have taken place with a view to the establishment of jobs and the economic development of the aerodrome.

    Exchange of the President of the Confederation with the municipalities and the COREB

    At the beginning of September, Viola Amherd, head of the DDPS and president of the Confederation, met with representatives of the municipalities, the Regional Community of Broye (COREB) and the Association for the Protection of the Interests of the Broye Municipalities Affected by the Payerne Military Airfield (ASIC). In this context, the DDPS and the region agreed on two principles.

    Payerne, as a major military airfield with increasing civilian use, is to host a training centre for aircraft maintenance professions. This intention is to be implemented by a working group led by the DDPS and the Regional Community of Broye (COREB). This group is to bring together the relevant departments of the Confederation, the cantons of Fribourg and Vaud, RUAG and swiss aeropole. It will be set up in the coming weeks and will specify the procedure to follow. A second working group is to identify possibilities for developing and establishing jobs on the Payerne site. This group will be led by the DDPS and will be set up by the end of 2024. It is to involve in particular armasuisse, the Air Force, the cantons of Fribourg and Vaud, COREB, swiss aeropole and EPFL.

    New training centre with 40 additional jobs

    In autumn 2023, the DDPS put the building permit application for an F-35A training centre with a flight simulator and training facility for ground personnel under investigation. The Regional Community of Broye (COREB), the Association for the Protection of the Interests of Broye Municipalities Affected by the Payerne Military Airfield (ASIC) and 14 municipalities had filed preventive oppositions.

    Following the agreement reached, the municipalities withdrew their objections or confirmed their intention to do so. They allow the start of preparatory work for the construction of the training centre, after the formal approval of the building permit application in October. The buildings should be operational from mid-2028.

    Around forty jobs will be created for the training centre, which will allow pilots to carry out their training flights on simulators and ground personnel from all Air Forces to carry out their basic training.

    Construction measures for the F-35A

    A large part of the real estate infrastructure of the Payerne, Meiringen and Emmen air bases can be reused for the deployment of the F-35A, as its dimensions are similar to those of the F/A-18. Adaptations are necessary in terms of training infrastructure, technical facilities and security arrangements. For the construction measures, Parliament approved a commitment credit of CHF 120 million as part of the 2022 Armed Forces Message.

    The concepts and planning for the adaptation of the infrastructure to the F-35A have been prepared and verified in detail over the past twelve months in collaboration with the U.S. government’s F-35 project office, the F-35 Lightning II Joint Program Office, and manufacturers Lockheed Martin and Pratt.

    The construction phase at the Payerne airbase will begin in October. For Meiringen and Emmen, the submission of building permit applications is planned for the end of 2024. Work will begin from 2025.

    Address for sending questions

    Communication DDPS 41 58 464 50 58kommunikation@gs-vbs.admin.ch

    Olivier Piccard, president of COREB 41 26 557 37 37olivier.piccard@vd.ch

    Author

    Federal Department of Defence, Civil Protection and Sporthttp://www.vbs.admin.ch

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Translation: The Confederation closes its Mastodon instance

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Department of Foreign Affairs in French

    Federal Chancellery

    Bern, 25.09.2024 – The Federal Chancellery has been operating a Mastodon instance for the federal administration since September 2023. The pilot project, which was limited to one year, ends today as the conditions for its continuation have not been met.

    As part of their legal information mandate, the Federal Council and the federal administration have also been communicating on social networks for many years and are constantly examining whether previously unused platforms are relevant.

    In September 2023, the Conference of Federal Information Services decided to launch a pilot project on the decentralised Mastodon platform. The Federal Chancellery then opened the social.admin.ch instance, on which members of the Federal Council and departments could manage official accounts. The pilot project was limited to one year.

    Mastodon has useful features for government communication. Thanks to its decentralized organization, the platform escapes the control of a single company and any state censorship. Its source code is open, it respects data protection and is not driven by algorithms.

    Too few active users

    On the social.admin.ch instance, three departments administered five accounts, and the Federal Chancellery administered one account for the entire Federal Council. The six accounts of the Confederation had around 3,500 subscribers in total.

    On platforms such as X or Instagram, the Federal Council and the Federal Administration reach significantly more subscribers with comparable accounts. In addition, the contributions of the Mastodon accounts of the Federal Council and the Federal Administration have rather low engagement rates (likes, shares, comments). Finally, the number of active Mastodon users worldwide is once again declining.

    The Conference of Information Services of the Confederation therefore considers that the conditions for continuing the pilot project have not been met, and activities on the Mastodon accounts of the Federal Council and the federal administration are suspended as of today. The social.admin.ch instance will be closed at the end of the month.

    Address for sending questions

    Urs BrudererHead of Communication Section058 483 99 69urs.bruderer@bk.admin.ch

    Author

    Federal Chancelleryhttps://www.bk.admin.ch/bk/fr/home.html

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI: AGF Management Limited Reports Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 25, 2024 (GLOBE NEWSWIRE) —

    • Reported quarterly adjusted diluted earnings per share of $0.37
    • Total assets under management and fee-earning assets of $49.7 billion
    • Declared quarterly dividend per share of 11.5 cents

    AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the third quarter ended August 31, 2024.

    AGF reported total assets under management and fee-earning assets1 of $49.7 billion compared to $47.8 billion as at May 31, 2024 and $42.3 billion as at August 31, 2023.

    “Amid an uncertain economic backdrop and significant market volatility, we are pleased to see early signs of improvement with positive retail net flows complementing our solid investment performance,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF. “This improvement can be attributed to our long-term strategic plan which diversifies our business across asset classes and client channels ensuring we thrive through changing market cycles.”

    AGF’s mutual fund gross sales were $1,012 million for the quarter compared to $934 million in the previous quarter and $633 million in the prior year quarter. Mutual fund net sales were $14 million compared to net redemptions of $112 million in the previous quarter and net redemptions of $151 million in the prior year quarter.

    “Given the current market environment and industry trends, we are pleased with the trajectory of our sales strategy,” said Judy Goldring, President and Head of Global Distribution, AGF. “Heading into the final months of 2024, we remain focused on diversifying our capabilities and offerings through a vehicle agnostic approach that meets the evolving needs of our clients.”

    _________________
    1 Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers

    Key Business and Financial Highlights:

    • AGF International Advisors Company Limited, a subsidiary of AGF, was once again accepted as a signatory to the UK Stewardship Code, a best-practice benchmark in investment stewardship.
    • AGF Management Limited partnered with Archer Holdco, LLC – a leading technology-enabled service provider to the investment management industry – to help further grow its Separately Managed Accounts (SMA) model business through additional product offerings and investment strategies.
    • AGF SAF Private Credit LP was named a Top Contender for a 2024 Canadian Hedge Fund Award Fund.
    • Adjusted EBITDA2 for the three months ended August 31, 2024, was $40.2 million, compared to $37.0 million for the three months ended May 31, 2024 and $33.7 million in the prior year comparative period.
    • Net management, advisory and administration fees2 were $78.7 million for the three months ended August 31, 2024, compared to $81.2 million for the three months ended May 31, 2024 and $73.8 million for the comparative prior year period.
    • Adjusted revenue from AGF Capital Partners for the three months ended August 31, 2024, was $18.5 million, compared to $12.0 million for the three months ended May 31, 2024 and $7.3 million for the comparative prior year period. The increase quarter over quarter and year over year were driven by higher fair value adjustments and distribution income and the consolidation of a full quarter of KCPL financial results. Revenue from AGF Capital Partners can be variable quarter to quarter and can be impacted by fair value adjustments, timing of monetizations and cash distributions as well as performance fees and carried interest.
    • Adjusted selling, general and administrative costs2 were $59.6 million for the three months ended August 31, 2024, compared to $60.0 million for the three months ended May 31, 2024 and $50.3 million for the comparative prior year period.
    • Adjusted net income attributable to equity owners was $24.5 million ($0.37 adjusted diluted EPS) for the three months ended August 31, 2024, compared to $23.6 million ($0.35 adjusted diluted EPS) for the three months ended May 31, 2024 and $22.9 million ($0.34 adjusted diluted EPS) for the comparative prior year period.
        Three months ended Nine months ended
          August 31,     May 31,     August 31,     August 31,     August 31,  
      (in millions of Canadian dollars, except per share data)   2024     2024     2023     2024     2023  
                           
      Revenues                    
      Management, advisory and administration fees $ 114.4   $ 116.4   $ 107.4   $ 339.4   $ 324.0  
      Trailing commissions and investment advisory fees   (35.7 )   (35.2 )   (33.6 )   (104.6 )   (101.5 )
      Net management, advisory and administration fees2 $ 78.7   $ 81.2   $ 73.8   $ 234.8   $ 222.5  
      Deferred sales charges   1.4     1.9     1.8     5.3     5.7  
      Adjusted revenue from AGF Capital Partners2   18.5     12.0     7.3     54.7     29.4  
      Other revenue2   1.2     1.9     1.1     5.1     2.4  
      Total adjusted net revenue2   99.8     97.0     84.0     299.9     260.0  
                           
      Selling, general and administrative   66.3     68.2     50.2     192.3     156.2  
      Adjusted selling, general and administrative2   59.6     60.0     50.3     173.1     155.0  
                           
      EBITDA2   33.0     26.6     33.8     104.8     103.8  
      Adjusted EBITDA2   40.2     37.0     33.7     126.8     105.0  
                           
      Net income – equity owners of the Company   20.3     18.1     23.0     68.9     70.9  
      Adjusted net income – equity owners of the Company   24.5     23.6     22.9     81.8     71.9  
                           
      Diluted earnings per share   0.30     0.27     0.34     1.03     1.05  
                           
      Adjusted diluted earnings per share   0.37     0.35     0.34     1.23     1.07  
                           
      Free cash flow2   29.1     23.7     22.9     73.9     62.8  
                           
      Dividends per share   0.115     0.115     0.110     0.340     0.320  
      (end of period) Three months ended
          Aug. 31,     May 31,     Feb. 28,     Nov. 30,     Aug. 31,  
      (in millions of Canadian dollars)   2024     2024     2024     2023     2023  
                             
      Mutual fund assets under management (AUM)3 $ 28,104   $ 26,961   $ 26,186   $ 24,459   $ 24,377  
      ETFs and SMA AUM   2,128     1,800     1,676     1,465     1,332  
      Segregated accounts and sub-advisory AUM   6,430     6,313     7,162     6,774     7,058  
      Total AGF Investments AUM   36,662     35,074     35,024     32,698     32,767  
      AGF Private Wealth AUM   8,186     8,026     7,836     7,341     7,360  
      AGF Capital Partners AUM   2,774     2,663     48     46     42  
      Total AUM $ 47,622   $ 45,763   $ 42,908   $ 40,085   $ 40,169  
      AGF Capital Partners fee-earning assets4   2,080     2,081     2,104     2,095     2,090  
      Total AUM and fee-earning assets4 $ 49,702   $ 47,844   $ 45,012   $ 42,180   $ 42,259  
                             
      Net mutual fund sales (redemptions)3   14     (112 )   (125 )   (224 )   (151 )
      Average daily mutual fund AUM3   27,542     26,604     25,197     23,840     24,168  

    2 Net management, advisory and administration fees, adjusted revenue from AGF Capital Partners, total net revenue, adjusted selling, general and administrative, EBITDA, adjusted EBITDA, and free cash flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at www.agf.com.
    3 Mutual fund AUM includes retail AUM and institutional client AUM invested in customized series offered within mutual funds.
    4 Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.

    For further information and detailed financial statements for the third quarter ended August 31, 2024, including Management’s Discussion and Analysis, which contains discussions of non-IFRS measures, please refer to AGF’s website at www.agf.com under ‘About AGF’ and ‘Investor Relations’ and at www.sedarplus.com.

    Conference Call

    AGF will host a conference call to review its earnings results today at 11 a.m. ET.

    The live audio webcast with supporting materials will be available in the Investor Relations section of AGF’s website at www.agf.com or at https://edge.media-server.com/mmc/p/fwjgan3c/. Alternatively, the call can be accessed over the phone by registering here or in the Investor Relations section of AGF’s website at www.agf.com, to receive the dial-in numbers and unique PIN.

    A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $50 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    AGF Management Limited shareholders, analysts and media, please contact:

    Ken Tsang
    Chief Financial Officer
    416-865-4338, InvestorRelations@agf.com

    Caution Regarding Forward-Looking Statements

    This press release includes forward-looking statements about the Company, including its business operations, strategy and expected financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects,’ ‘estimates,’ ‘anticipates,’ ‘intends,’ ‘plans,’ ‘believes’ or negative versions thereof and similar expressions, or future or conditional verbs such as ‘may,’ ‘will,’ ‘should,’ ‘would’ and ‘could.’ In addition, any statement that may be made concerning future financial performance (including income, revenues, earnings or growth rates), ongoing business strategies or prospects, fund performance, and possible future action on our part, is also a forward-looking statement. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, business prospects, business performance and opportunities. While we consider these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about our operations, economic factors and the financial services industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us due to, but not limited to, important risk factors such as level of assets under our management, volume of sales and redemptions of our investment products, performance of our investment funds and of our investment managers and advisors, client-driven asset allocation decisions, pipeline, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, technological changes, cybersecurity, the possible effects of war or terrorist activities, outbreaks of disease or illness that affect local, national or international economies, natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply or other catastrophic events, and our ability to complete strategic transactions and integrate acquisitions, and attract and retain key personnel. We caution that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Other than specifically required by applicable laws, we are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete discussion of the risk factors that may impact actual results, please refer to the ‘Risk Factors and Management of Risk’ section of the 2023 Annual MD&A.

    The MIL Network

  • MIL-OSI: Purpose Investments Inc. Announces Final September 2024 Distribution Rate for Purpose High Interest Savings Fund, Purpose US Cash Fund, Purpose Cash Management Fund, and Purpose USD Cash Management Fund

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 25, 2024 (GLOBE NEWSWIRE) — Purpose Investments Inc. announced today the final September 2024 distribution rates for Purpose High Interest Savings Fund, Purpose US Cash Fund, Purpose Cash Management Fund, and Purpose USD Cash Management Fund.

    Due to the recent interest rate cut by the Federal Reserve, the distribution levels for our US cash funds have been proportionately reduced to align with this adjustment.

    The following table reflects the final distribution amounts for the month of September. Ex-distribution date is September 26, 2024.

    Open-End Fund Ticker Symbol Final distribution per unit Record Date Payable Date Distribution Frequency
    Purpose USD Cash Management Fund – ETF Units MNU.U US $ 0.4091 09/26/2024 10/02/2024 Monthly
    Purpose Cash Management Fund – ETF Units MNY $ 0.3587 09/26/2024 10/02/2024 Monthly
    Purpose High Interest Savings Fund – ETF Units PSA $ 0.1670 09/26/2024 10/02/2024 Monthly
    Purpose US Cash Fund – ETF Units PSU.U US $ 0.4052 09/26/2024 10/02/2024 Monthly


    About Purpose Investments Inc.

    Purpose Investments Inc. is an asset management company with more than $20 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

    For further information please contact:
    Keera Hart
    Keera.Hart@kaiserpartners.com
    905-580-1257

    Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network