Category: Russian Federation

MIL-OSI China: Xi urges ‘BRICS Plus’ to pursue common security and development, harmony among civilizations

Source: China State Council Information Office

Chinese President Xi Jinping delivers an important speech titled “Combining the Great Strength of the Global South To Build Together a Community with a Shared Future for Mankind” at the “BRICS Plus” leaders’ dialogue in Kazan, Russia, Oct. 24, 2024. [Photo/Xinhua]

Chinese President Xi Jinping on Thursday called on “BRICS Plus” countries to strive for common security, common development and harmony among civilizations.

Xi made the remarks while addressing the “BRICS Plus” leaders’ dialogue.

Noting that the collective rise of the Global South is a distinctive feature of the great transformation across the world, Xi said that Global South countries marching together toward modernization is monumental in world history and unprecedented in human civilization.

Meanwhile, peace and development still faces severe challenges and the road to prosperity for the Global South will not be straight, he pointed out, urging “BRICS Plus” countries to use collective wisdom and strength and stand up to their responsibility for building a community with a shared future for mankind.

Xi said that “BRICS Plus” countries should uphold peace and strive for common security, come forward together to form a stabilizing force for peace, strengthen global security governance, and explore solutions to address both symptoms and roots of hotspot issues.

He said that many parties have warmly responded to the Global Security Initiative he proposed. “Under the Initiative, we have made prominent progress in maintaining regional stability and in many other areas,” he said, adding that China and Brazil jointly issued the six-point consensus and launched the group of Friends for Peace on the Ukraine crisis together with other Global South countries.

He also called on “BRICS Plus” countries to promote early deescalation to pave the way for political settlement.

Last July, Palestinian factions reconciled with each other in Beijing, marking a key step toward peace in the Middle East, he noted. “We should continue to promote comprehensive ceasefire in the Gaza Strip and revive the two-State solution. We must stop the flames of war from spreading in Lebanon and end the miserable sufferings in Palestine and Lebanon,” Xi stressed.

Noting that the Global South emerges for development and prospers through development, Xi said that “BRICS Plus” countries should reinvigorate development and strive for common prosperity, be the main driving force for common development, play an active and leading role in the global economic governance reform, and make development the core of international economic and trade agenda.

He said that the Global Development Initiative, since its introduction three years ago, has helped make available nearly 20 billion U.S. dollars of development fund and launch more than 1,100 projects. And recently the Global Alliance on Artificial Intelligence for Industry and Manufacturing Center of Excellence has been established in Shanghai.

China will build a World Smart Customs Community Portal and a BRICS Customs Center of Excellence, he noted, adding that China welcomes active participation by all countries.

Stressing that diversity of civilization is the innate quality of the world, Xi called on “BRICS Plus” countries to promote together development of all civilizations and strive for harmony among them, be advocates for exchanges among civilizations, enhance communication and dialogue, and support each other in taking the path to modernization suited to their respective national conditions.

He noted that the Global Civilization Initiative he proposed is exactly for the purpose of building a garden of world civilizations “in which we can share and admire the beauty of each civilization,” he said, adding that China will coordinate with others to form a Global South Think Tanks Alliance to promote people-to-people exchanges and experience-sharing in governance.

Xi stressed that the Third Plenary Session of the 20th Central Committee of the Communist Party of China made systemic plans for further deepening reform comprehensively to advance Chinese modernization, which will provide more opportunities for the world.

“Last month, we held in Beijing a successful summit of the Forum on China-Africa Cooperation and announced ten partnership actions for China and Africa to jointly advance modernization. This will instill new energy for the Global South on its way toward modernization,” he said.

Xi also said that no matter how the international landscape evolves, “we in China will always keep the Global South in our heart, and maintain our roots in the Global South.”

China supports more Global South countries in joining the cause of BRICS as full members, partner countries or in the “BRICS Plus” format “so that we can combine the great strength of the Global South to build together a community with a shared future for mankind,” he said.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Fuchun River sparks impromptu poetry on shared human emotions

Source: China State Council Information Office 3

For centuries, Chinese poets have captured the stunning beauty of the Fuchun River in Hangzhou, Zhejiang province, in simple yet poetic words. This July, poets from the BRICS countries stepped into the same river, drifting along the same route, and engaged in an impromptu poetry session inspired by the Fuchun River.

The poems, they created on the river during their six-day trip to China, and on a series of cultural activities they took part in have been recorded in the book Messengers from the Vernal Wood, which was released on Oct 18 at the Frankfurt Book Fair, Germany.

The book compiled by the Poetry Periodical also features poems written by 72 poets who took part in the First International Youth Poetry Festival: Special Session for BRICS Countries in July. It includes works from 49 poets from nine countries — Brazil, Russia, India, South Africa, Saudi Arabia, Egypt, the United Arab Emirates, Iran and Ethiopia, with each poem featured in both the poet’s native language and Chinese. It also includes poems from 23 Chinese poets, with each poem in Chinese and its English translation.

Li Shaojun, editor of the book, said that poetry is a universal language of humanity, expressing shared human emotions. “The BRICS countries all have rich history, and through the universal language of poetry, we can greatly enhance communication and exchange, connecting more poets from the BRICS nations,” said Li.

Speaking about his journey to the poetry festival held in China in July, Brazilian poet Thiago Moraes said he was still excited about his first trip to a country that is totally different from his own. “It took me two days to arrive in China. Very hard. But I was so happy to be in China to know new people, new cultures, new perspectives and new ways of living,” said Moraes, who teaches Brazilian literature at a university in Rio de Janeiro.

In mid-July, aboard a cruise on the picturesque Fuchun River in Hangzhou, Moraes joined poets from China, Ethiopia and Iran for an impromptu poetry session. Each participant crafted a short, simple poem inspired by the beauty of the Fuchun River. This kind of poetry gathering was popular among ancient Chinese scholars.

The Brazilian poet was deeply impressed by the enthusiasm of the group and the crystal clear green waters of the Fuchun River. He learned about the ancient Chinese poets Bai Juyi and Su Shi, both of whom created many well-known verses. To his surprise, Moraes found some similarities with the Chinese counterparts: they all share a love of nature and a fondness for expressing their inner worlds through landscapes.

He said poetry makes people stay humble, open and diversified. “We poets should gather our efforts to make a better world instead of fighting all the time,” he added.

Poet Shaikha Almteiri from the United Arab Emirates said she never imagined that one day she would set foot in China. She was excited about everything she encountered, including the people, the food, the museums, the ancient villages, the Great Wall and the Forbidden City.

She was often asked with questions like what are poets in the UAE writing about? What commonalities exist between UAE poetry and poetry from other countries?

“At the poetry festival in China, we find that no matter which country we come from, we are all creating with the same voice, the same heart and the same human spirit. We are all writing about the world of humanity, using the language of humanity. For example, we depict beautiful childhoods and the small flowers adorning braids,” she said.

Almteiri enjoyed the poetry festival and said that such kind of gatherings and exchanges among poets might be the very catalysts for their innovation. She also expected for a future trip to China again.

For Ethiopian poet Seife Temam, the poetry trip to China made him fall in love with the country’s ancient culture, especially the Tang Dynasty (618-907) poet Li Bai. This was also his first visit to China. Previously, he admired Chinese philosopher Laozi and considered him a great Chinese poet as well.

After visiting several museums, he became enamored with the clothing style and poetry of the Tang dynasty, which he found to be romantic, passionate and unrestrained.

While cruising on Fuchun River in July, he wrote a romantic verse: “I am a child of the Nile, yet I am captivated by the Fuchun River.”

Li, the book editor, said that it was the first time for China to hold such kind of international poetry festival of BRICS countries. He hoped that through the book’s publication, the influence of poetry events will grow among poets from BRICS countries, enabling more poets to communicate and exchange ideas with each other.

MIL OSI China News –

January 25, 2025
MIL-OSI United Kingdom: Russia poses a growing threat to global stability and international principles: UK statement to the OSCE
Source: United Kingdom – Executive Government & Departments

Ambassador Holland condemns Russia’s growing threat to global stability, food security and maritime safety as it thickens ties with North Korea, steps up attacks in the Black Sea and seeks to circumvent sanctions.
Location:

Vienna

Delivered on:

24 October 2024 (Transcript of the speech, exactly as it was delivered)

Thank you, Madam Chair. It is with deep concern that I draw colleagues’ attention to reports of the Democratic People’s Republic of Korea (DPRK) sending combat troops to Russia. Our assessment is that it is highly likely that the transfer of these troops has begun. Russia has already procured significant munitions and arms from DPRK, in direct violation of multiple UN resolutions. The DPRK will surely extract a heavy price for its support. This has security implications for the OSCE region and should be of concern to us all.

Madam Chair, at the beginning of its full-scale invasion, Russia attempted to blockade Ukrainian ports in a cynical attempt to choke Ukraine’s economy. Under the July 2022 Black Sea Grain Initiative, Ukrainian grain was again able to reach those who needed it most across the world. Regrettably, Russia unilaterally withdrew from the Initiative after one year and began missile strikes on Ukrainian ports and grain storage facilities. 300,000 tonnes of grain were destroyed between August and October 2023.

Since then, Russia has repeatedly demonstrated its disregard for global food security and international principles, including freedom of navigation, the bedrock of global trade. Between 5 and 14 October, Russian missiles struck four civilian ships in deliberate attacks on export infrastructure in Odesa, killing at least 10 innocent civilians and injuring many more.

To obscure its illegal actions, last week Russia made false claims about the cargo these ships were carrying and threatened to continue targeting civilian ships using Ukrainian ports. It is unacceptable to target ships engaged only in the transportation of grain.

Russia’s actions deliberately harm global food security. Hindering exports of wheat, maize and barley from one of the world’s top grain exporters hurts everyone, but especially the world’s most vulnerable. The UK condemns Russia’s strikes. They have impacted shipments destined for the World Food Programme in Palestine and southern Africa. They also undermine the stability of the entire Black Sea region, affecting many others around this table.

Russia also threatens maritime safety and security through a 600 vessel ‘shadow fleet’, used to circumvent international sanctions and provide funding for Russia’s illegal war in Ukraine. Many of these vessels are unsafe, lack adequate insurance and engage in dangerous and deceptive shipping practices, including turning off radio transponders in violation of international regulations. These vessels break maritime law and pose significant risks to the environment, and maritime safety and security.

The UK will continue to take action against this illegal and dangerous ‘shadow fleet’. 43 of its oil tankers have been barred from UK ports and from accessing British maritime services. My Prime Minister launched a ‘Call to Action’ against the fleet in July, and we want to thank the 45 partners in this room who signed up to this.

We cannot and will not ignore Russia’s violations of the laws and principles that underpin global trade and food security. They contravene its Decalogue obligations, including Article 10 on the fulfilment in good faith of obligations under international law. We call on the Russian authorities to end this unjustifiable war and return to conformity with the OSCE’s foundational principles. Thank you.

Updates to this page

Published 24 October 2024

Invasion of Ukraine

UK visa support for Ukrainian nationals

Move to the UK if you’re coming from Ukraine

Homes for Ukraine: record your interest

Find out about the UK’s response
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI Russia: Architect Kristina Dmitrova told students how to create a project that will be approved by the client

Translation. Region: Russian Federation –

Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Kristina Dmitrova

SPbGASU has announced a student competition for the concept of the main building’s vestibule. The best project will be proposed for implementation, and its author will go down in the history of their native university. Graduates of our university who have succeeded in their profession and built a career at the international level have been invited as experts. They not only evaluate the works, but also give lectures where they share their experience. Among them is the famous and successful architect Kristina Dmitrova.

Kristina Dmitrova graduated from the architecture department of SPbGASU in 2015 with honors. At the age of twenty-one, she won an architectural competition and went to Rome for an internship at the Exclusiva Design studio, which developed premium-class interior projects. At twenty-four, Kristina opened her own business specializing in the design of public interiors and private homes. One of her first commercial projects was the Alpenhaus restaurant on Krestovsky Island in St. Petersburg for 1,200 people. Today, Kristina Dmitrova’s company has accumulated extensive experience in cooperation with various business areas, the public sector, and has designed more than 50 thousand square meters of various objects, including abroad. Based on her own experience, she identified nine golden rules of public interior design and recommended that students carefully study them in order to design a successful project that will be approved by the customer. The lecturer confirmed each rule with real objects.

So, rule #1 “Clarity, clarity, clarity” requires being specific and consistent, being able to correctly and clearly convey the details of your project to the customer and make decisions promptly. Otherwise, decisions will be made by third-party contractors involved in the project, and the reputation of the architect-designer will suffer. “Your task is to competently implement the project, and not dissolve in creative fantasies,” advised Kristina Dmitrova.

Rule #2 “5 percent and 95 percent” clearly distinguishes between time and effort for design and project implementation. As practice shows, only 5 percent of time and labor resources should be devoted to design, the rest should be spent on implementation. For example, out of the entire team, only two specialists are engaged in design during the month, and the rest – in implementation for nine months. “Meanwhile, the success of the project implementation largely depends on these 5 percent. Therefore, the concept must be seriously dealt with, but keep in mind that without the competencies of other specialists participating in the implementation of the project, without experienced managers, success cannot be achieved,” the architect emphasized.

Rule #3 requires the use of wear-resistant materials. Public places usually have a high flow of visitors, so the materials must be durable so that the facility can justify itself functionally. The larger the public project, the greater the flow of people and the more wear-resistant the materials must be. “Otherwise, they will soon become unusable, the establishment will incur repair costs and will be forced to close, which means it will lose profits. Therefore, wear-resistant and easily restored materials are a priority,” the expert advised.

Rule No. 4 provides principles of interaction with contractors. It is necessary to take into account that, in addition to the architect, other specialists are also involved in the project, for example, engineers, who are obliged to comply with standards and requirements. “And here you need to be a mediator-negotiator. They do according to the requirements, and we need to create a beautiful interior. Therefore, our task is to get permission from them and not spoil the design. To do this, it is necessary to study engineering systems in order to understand the engineer’s train of thought in advance,” Kristina emphasized.

Rule #5 requires paying attention to vandalism prevention. Don’t have illusions that people will use everything carefully, everything should be securely fastened.

Rule #6 says: the less maintenance the interior requires, the better. For example, if you want to add greenery, then you should give preference to artificial, because living greenery requires proper care, proper lighting, and hiring additional staff. “Technology in the production of artificial greenery has advanced far, and now it is difficult to distinguish it from living plants. Even in Singapore, where, it would seem, there are all the conditions for growing living plants, this is the rule they adhere to in interior design,” said Christina.

Rule #7 requires working closely with the fire department. Their requirements do not allow for flexibility, so it is necessary to discuss any restrictions with them in advance.

Rule #8 is the proper use of the customer company’s branding elements – corporate colors, symbols. For such interior visualization, you need to request their brand book.

Rule #9 concerns the creation of a unique design. Often, the customer wants not only to receive a unique interior at the time of creation, but also to prevent its further duplication. This is normal practice, and such wishes should be listened to.

The specialist also advised participating in various competitions to gain experience. The students listened to the practicing architect with interest and actively asked questions.

“By participating in the competition as an expert, I thank my home university for the time I spent here, the teachers who gave me deep professional knowledge, and I consider it my duty to contribute to its further development. In addition, I want to help students with practical advice that I would be glad to hear from practicing specialists during my years of study. I am sure that my experience will help them in the competition and in their future profession,” noted Kristina.

The operator of the competition was the Educational Center for Project-Based Learning of SPbGASU. Its director Alexandra Yugay emphasized that the contestants face a difficult task.

“Based on this, we invited not only heads of departments and teachers as experts, but also graduates of our university who have built a career in interior design bureaus, so that they could give applied lectures on public interior design, talk about approaches to design, based on their own practice. This will allow the competition participants to adjust their projects taking into account advice from professionals, and delve deeper into this topic. The semi-final of the competition will take place on November 8, ten finalists will be announced. Taking into account the opinions of experts, they will finalize their projects to participate in the final, which will take place at the end of November,” said Alexandra Yugai.

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

MIL OSI Russia News –

January 25, 2025
MIL-OSI Global: Ukraine cannot defeat Russia – the best the west can do is help Kyiv plan for a secure post-war future

Source: The Conversation – UK – By Frank Ledwidge, Senior Lecturer in Military Strategy and Law, University of Portsmouth

A friend of mine, usually an intensely optimistic pro-Ukraine analyst, returned from Ukraine last week and told me: “It’s like the German Army in January 1945.” The Ukrainians are being driven back on all fronts – including in the Kursk province of Russia, which they had opened with much hope and fanfare in August. More importantly, they are running out of soldiers.

For most of 2024, Ukraine has been losing ground. This week, the town of Selidove in the western Donetsk region is being surrounded and, like Vuhledar earlier this month, is likely to fall in the next week or so – the only variable being how many Ukrainians will be lost in the process. Over the winter, the terrible prospect of a major battle to hold the strategically significant industrial town of Pokrovsk beckons.

Ukrainian forces are steadily losing ground close to the strategically vital town of Pokrovsk, western Donetsk region.
Institute for the Study of War

Ultimately, this is not a war of territory but of attrition. The only resource that counts is soldiers – and here the calculus for Ukraine is not positive.

Ukraine claims to have “liquidated” nearly 700,000 Russian soldiers – with more than 120,000 killed and upwards of 500,000 injured. Its president, Volodymyr Zelensky, admitted in February this year to 31,000 Ukrainian fatalities, with no figure given for injured.

The problem is these Ukrainian totals are apparently believed by western officials, when the reality is likely to be very different. US sources say the war has seen 1 million people killed and wounded on both sides. Crucially, this includes a growing number of Ukrainian civilians.

Low morale and desertion, as well as draft-dodging, are now significant problems for Ukraine. These factors are exacerbating already serious recruitment issues, making it hard to supply the front lines with fresh troops.

A dreadful debate is taking place in Ukraine. The question revolves around whether to mobilise – and risk serious casualties to – the 18-25 age group. Due to economic pressures in the early 2000s, Ukraine suffered a major drop in its birth rate, leaving relatively few people now aged between 15 and 25. Mobilisation and serious attrition of this group may be something Ukraine simply can’t afford, given the already serious demographic crisis the country faces.

And even if this mobilisation does go ahead, by the time the necessary politics, legislation, bureaucracy and training have run their course, the war may be over.

Victory look impossible

History knows of no example where taking on Russia in an attritional contest has proved successful. Let’s be clear: this means there is a real possibility of defeat – there is no sugar-coating this.

Zelensky’s maximalist war aims of restoring Ukraine’s pre-2014 borders, along with other unlikely conditions – which were unchallenged and encouraged by a confused but self-aggrandising west – will not be achieved, and the west’s leaders are partly to blame. Ill-advised wars in Afghanistan and the Middle East left western armed forces hollow, poorly armed, and entirely unprepared for a serious and prolonged conflict, with ammunition stocks likely to last weeks at best.

European promises of millions of artillery rounds have failed to materialise – only 650,000 have been supplied to Kyiv this year, whereas the North Koreans have supplied at least twice that to Russia.

Only the US has significant stocks of weaponry in the form of thousands of armoured vehicles, tanks and artillery pieces in reserve – and it is unlikely to change its policy of drip-feeding weapons to Ukraine now. Even if such a decision is made, the lead-time for delivery will be years, not months.

In a confidential briefing I attended recently given by western defence officials, the atmosphere was downbeat. The situation is “perilous” and “as bad as it has ever been” for Ukraine. Western powers cannot afford another strategic disaster like Afghanistan which, in the words of Ernest Hemingway (aptly quoted by the strategist Lawrence Freedman), happened “gradually, then suddenly”.

There will be no decisive breakthrough by Russia’s army when they take this town or that (say, Pokrovsk). They haven’t the capability to do it. So, there won’t be a collapse – no “Kyiv as Kabul” moment.

However, there are limits to the losses Ukraine can take. We do not know where that limit lies, but we’ll know when it happens. Crucially, there will be no victory for Ukraine. Unforgivably, there is not, and never has been, a western strategy except to bleed Russia as long as possible.

More fundamentally, two ancient ethical questions governing whether a war is just must now be asked and answered: whether there is a reasonable prospect of success, and whether the potential gain is proportionate to the cost.

The problem, as so often before, is that the west has not defined what it considers a success. The cost, meanwhile, is becoming all-too clear.

To have clearly defined its goals and limits would have constituted the beginnings of a strategy – and the west isn’t good at that. Nato’s leaders now need to move quickly beyond meaningless rhetoric or anything that smacks of “as long as it takes”. We saw where that led in Iraq, Afghanistan and Libya.

We need a realistic answer to what something like a “win”, or at least an acceptable settlement, now looks like – as well as the extent to which it is achievable, and whether the west is really going to pursue it. And then for western leaders to act accordingly.

A starting point could be accepting that Crimea, Donetsk and Luhansk are lost – something an increasing number of Ukrainians are beginning to say openly. Then we need to start planning seriously for a post-war Ukraine that will need the west’s suppport more than ever.

Russia cannot possibly take all, or even the bulk of, Ukraine’s territory. Even if it could, it could not possibly hold it. It is amply clear there will be a compromise settlement.

So, it is time for Nato – and the US in particular – to articulate a viable end to this nightmarish ordeal, and to develop a pragmatic strategy to deal with Russia in the coming decade. More importantly, the west must plan how to support a heroic, shattered – but still independent – Ukraine.

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

– ref. Ukraine cannot defeat Russia – the best the west can do is help Kyiv plan for a secure post-war future – https://theconversation.com/ukraine-cannot-defeat-russia-the-best-the-west-can-do-is-help-kyiv-plan-for-a-secure-post-war-future-242010

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Video: President Cyril Ramaphosa’s remarks during the BRICS Outreach and BRICS Plus in Russia

Source: Republic of South Africa (video statements-2)

President Cyril Ramaphosa’s remarks during the BRICS Outreach and BRICS Plus in Russia

https://www.youtube.com/watch?v=LIwC23aw2NM

MIL OSI Video –

January 25, 2025
MIL-OSI China: Xi says China to take lead in establishing Global South think tank cooperation alliance

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

Xi says China to take lead in establishing Global South think tank cooperation alliance

KAZAN, Russia, Oct. 24 — Chinese President Xi Jinping said Thursday that China will take the lead to set up a Global South think tank cooperation alliance.

Xi made the remarks when addressing the “BRICS Plus” leaders’ dialogue.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Xi calls on ‘BRICS Plus’ countries to be a driving force for mutual learning among civilizations

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

Xi calls on ‘BRICS Plus’ countries to be a driving force for mutual learning among civilizations

KAZAN, Russia, Oct. 24 — Chinese President Xi Jinping said Thursday that “BRICS Plus” countries should be a driving force for mutual learning among civilizations.

Xi made the remarks when addressing the “BRICS Plus” leaders’ dialogue.

He also called on “BRICS Plus” countries to enhance communication and dialogue, and support each other in pursuing modernization paths suited to their own national conditions.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Xi says ‘BRICS Plus’ countries should be a stabilizing force for peace

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

KAZAN, Russia, Oct. 24 — “BRICS Plus” countries should be a stabilizing force for peace, strengthen global security governance, and explore ways to address both the symptoms and root causes of hotspot issues, Chinese President Xi Jinping said on Thursday.

Xi made the remarks when attending the BRICS Plus leaders’ dialogue on Thursday.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Xi says ‘BRICS Plus’ countries should be central pillar of strength for common development

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

Xi says ‘BRICS Plus’ countries should be central pillar of strength for common development

KAZAN, Russia, Oct. 24 — Chinese President Xi Jinping said Thursday that BRICS Plus countries should be a central pillar of strength for common development.

Xi made the remarks while addressing the “BRICS Plus” leaders’ dialogue.

He said that development has contributed to the rise and thriving of the Global South. “BRICS Plus” countries should actively participate in and lead the reform of the global economic governance system and advocate for placing development at the core of the international trade and economic agenda.

MIL OSI China News –

January 25, 2025

MIL-OSI Europe: Minutes – Wednesday, 23 October 2024 – Strasbourg – Final edition

Source: European Parliament

PV-10-2024-10-23

iPlPv_Sit

Minutes
Wednesday, 23 October 2024 – Strasbourg

IN THE CHAIR: Sabine VERHEYEN
Vice-President

1. Opening of the sitting

The sitting opened at 09:00.

2. Managing migration in an effective and holistic way through fostering returns (debate)

Commission statement: Managing migration in an effective and holistic way through fostering returns (2024/2882(RSP))

Helena Dalli (Member of the Commission) made the statement.

The following spoke: Tomas Tobé, on behalf of the PPE Group, Iratxe García Pérez, on behalf of the S&D Group, Kinga Gál, on behalf of the PfE Group, Nicola Procaccini, on behalf of the ECR Group, Valérie Hayer, on behalf of the Renew Group, Tineke Strik, on behalf of the Verts/ALE Group, Estrella Galán, on behalf of The Left Group, Sarah Knafo, on behalf of the ESN Group, Jeroen Lenaers, Ana Catarina Mendes, who also answered a blue-card question from João Oliveira, Marieke Ehlers, Jadwiga Wiśniewska, Malik Azmani, Diana Riba i Giner, Ilaria Salis, who also declined to take blue-card questions from Susanna Ceccardi and Anna Maria Cisint, Mary Khan, Erik Kaliňák, Lena Düpont, who also answered a blue-card question from András László, Cecilia Strada, Jean-Paul Garraud, Assita Kanko, Fabienne Keller, who also declined to take a blue-card question from Fabrice Leggeri, Erik Marquardt, Konstantinos Arvanitis, Monika Beňová, Dolors Montserrat, Matjaž Nemec, Paolo Borchia, who also answered a blue-card question from Maria Grapini, Charlie Weimers, Abir Al-Sahlani, who also answered a blue-card question from Rihards Kols, Ignazio Roberto Marino, Siegfried Mureşan, Jorge Buxadé Villalba, Elena Yoncheva, Elissavet Vozemberg-Vrionidi, Tom Vandendriessche, Rasa Juknevičienė, Harald Vilimsky, François-Xavier Bellamy, who also answered a blue-card question from Malika Sorel, Paulo Cunha, Bartłomiej Sienkiewicz and Loránt Vincze.

The following spoke under the catch-the-eye procedure: Paulius Saudargas, Juan Fernando López Aguilar, Susanna Ceccardi, Sebastian Tynkkynen, Hilde Vautmans and João Oliveira.

IN THE CHAIR: Sophie WILMÈS
Vice-President

The following spoke under the catch-the-eye procedure: Lukas Sieper, Matej Tonin and Vytenis Povilas Andriukaitis.

The following spoke: Helena Dalli.

The debate closed.

3. Tackling the steel crisis: boosting competitive and sustainable European steel and maintaining quality jobs (debate)

Commission statement: Tackling the steel crisis: boosting competitive and sustainable European steel and maintaining quality jobs (2024/2883(RSP))

Helena Dalli (Member of the Commission) made the statement.

The following spoke: Christian Ehler, on behalf of the PPE Group, Dan Nica, on behalf of the S&D Group, Paolo Borchia, on behalf of the PfE Group, Daniel Obajtek, on behalf of the ECR Group, Christophe Grudler, on behalf of the Renew Group, Terry Reintke, on behalf of the Verts/ALE Group, Martin Schirdewan, on behalf of The Left Group, René Aust, on behalf of the ESN Group, Juan Ignacio Zoido Álvarez, Estelle Ceulemans, Ondřej Knotek, Elena Donazzan, Brigitte van den Berg, Sara Matthieu, Rudi Kennes, Marcin Sypniewski, Adam Jarubas, Jens Geier, Anna Bryłka, Anna Zalewska, Marie-Pierre Vedrenne, Dennis Radtke, Raphaël Glucksmann, Tom Berendsen, Giorgio Gori, Letizia Moratti, Elena Sancho Murillo, Radan Kanev, Eero Heinäluoma, Johan Danielsson and Idoia Mendia, who also answered a blue-card question from Bogdan Rzońca.

The following spoke under the catch-the-eye procedure: Susana Solís Pérez, Jadwiga Wiśniewska, Michał Kobosko, Branislav Ondruš, Massimiliano Salini, Michele Picaro, Kateřina Konečná, Manuela Ripa, Sebastian Tynkkynen, Seán Kelly, Ondřej Krutílek, Diego Solier and Mirosława Nykiel.

The following spoke: Helena Dalli.

The debate closed.

(The sitting was suspended at 11:57.)

IN THE CHAIR: Roberta METSOLA
President

4. Resumption of the sitting

The sitting resumed at 12:03.

5. Statement by the President

The President made a statement to mark the 68th anniversary of the Hungarian Uprising of 1956. She paid tribute to the victims and to those who had suffered under Soviet oppression.

⁂

The following spoke: Ondřej Knotek and Peter Liese (the President made some clarifications).

6. Voting time

For detailed results, see also ‘Results of votes’ and ‘Results of roll-call votes’.

6.1. Deforestation Regulation: provisions relating to the date of application ***I (vote)

Proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2023/1115 as regards provisions relating to the date of application [COM(2024)0452 – C10-0119/2024 – 2024/0249(COD)] – ENVI Committee

REQUEST FOR AN URGENT DECISION from the ENVI Committee (Rule 170(6))

Parliament approved the request for urgent procedure.

The following tabling deadlines had been set:
– amendments: Wednesday 6 November 2024 at 13:00
– requests for separate votes and split votes: Thursday 12 November 2024 at 16:00.

Vote: at a later part-session.

6.2. Draft general budget of the European Union for the financial year 2025 – all sections (vote)

(Majority of Parliament’s component Members required)

DRAFT AMENDMENTS

(The draft amendments adopted would appear as an annex to the Texts Adopted)

The following had spoken:

After the vote, Péter Benő Banai (President-in-Office of the Council) had noted the differences between the positions of Parliament and of the Council and had agreed to the President’s convening of the Conciliation Committee in accordance with Article 314(4)(c) of the Treaty on the Functioning of the European Union.

(‘Results of votes’, item 1)

6.3. General budget of the European Union for the financial year 2025 – all sections (vote)

Report on the Council position on the draft general budget of the European Union for the financial year 2025 [12084/2024 – C10-0099/2024 – 2024/0176(BUD)] – Committee on Budgets. Rapporteurs: Victor Negrescu and Niclas Herbst (A10-0008/2024)

(Majority of the votes cast)

MOTION FOR A RESOLUTION

Rejected

The following had spoken:

Before the vote, Victor Negrescu (rapporteur) on the basis of Rule 189(4).

Leila Chaibi, to move an oral amendment to paragraph 68. Parliament had not agreed to put the oral amendment to the vote as more than 39 Members had opposed it.

(‘Results of votes’, item 2)

6.4. Guidelines for the employment policies of the Member States * (vote)

Report on the proposal for a Council decision on guidelines for the employment policies of the Member States [COM(2024)0599 – C10-0084/2024 – 2024/0599(NLE)] – Committee on Employment and Social Affairs. Rapporteur: Li Andersson (A10-0004/2024)

(Majority of the votes cast)

COMMISSION PROPOSAL

Approved as amended (P10_TA(2024)0027)

(‘Results of votes’, item 3)

6.5. Urgent need to revise the Medical Devices Regulation (vote)

Motions for resolutions RC-B9-0123/2024/REV1, B10-0121/2024, B10-0122/2024, B10-0123/2024, B10-0124/2024, B10-0125/2024, B10-0126/2024, B10-0127/2024 and B10-0128/2024 (minutes of 23.10.2023, item I) (2024/2849(RSP))

The debate had taken place on 9 October 2024 (minutes of 9.10.2024, item 15).

(Majority of the votes cast)

JOINT MOTION FOR A RESOLUTION

Adopted (P10_TA(2024)0028)

(Motions for resolutions B10-0121/2024, B10-0122/2024 and B10-0127/2024 fell.)

(‘Results of votes’, item 4)

(The sitting was suspended at 12:53.)

IN THE CHAIR: Roberts ZĪLE
Vice-President

7. Resumption of the sitting

The sitting resumed at 12:56.

8. Approval of the minutes of the previous sitting

The minutes of the previous sitting were approved.

9. Continued war crimes committed by the Russian Federation, notably killing Ukrainian prisoners of war (debate)

Commission statement: Continued war crimes committed by the Russian Federation, notably killing Ukrainian prisoners of war (2024/2897(RSP))

Didier Reynders (Member of the Commission) made the statement.

The following spoke: Sandra Kalniete, on behalf of the PPE Group, Chloé Ridel, on behalf of the S&D Group, Tomasz Buczek, on behalf of the PfE Group, Adam Bielan, on behalf of the ECR Group, Petras Auštrevičius, on behalf of the Renew Group, and Sergey Lagodinsky, on behalf of the Verts/ALE Group.

The following spoke: Didier Reynders.

The following spoke: Lukas Sieper on the allocation of speaking time in the debate (the President made some clarifications).

The debate closed.

10. U-turn on EU bureaucracy: the need to axe unnecessary burdens and reporting to unleash competitiveness and innovation (topical debate)

The following spoke: Jörgen Warborn to open the debate proposed by the PPE Group.

The following spoke: Helena Dalli (Member of the Commission).

The following spoke: Markus Ferber, on behalf of the PPE Group, René Repasi, on behalf of the S&D Group, Klara Dostalova, on behalf of the PfE Group, Antonella Sberna, on behalf of the ECR Group, Stéphanie Yon-Courtin, on behalf of the Renew Group, Jutta Paulus, on behalf of the Verts/ALE Group, Jussi Saramo, on behalf of The Left Group, Milan Uhrík, on behalf of the ESN Group, Tom Berendsen, Lara Wolters, Vilis Krištopans, Kosma Złotowski, Svenja Hahn, Kim Van Sparrentak, Stanislav Stoyanov, Branislav Ondruš, Christine Schneider, Lina Gálvez, Ondřej Knotek, Stephen Nikola Bartulica, João Cotrim De Figueiredo, Marie Toussaint, Anja Arndt and Katarína Roth Neveďalová.

IN THE CHAIR: Younous OMARJEE
Vice-President

The following spoke: Lídia Pereira, Nikos Papandreou, Raffaele Stancanelli, Stefano Cavedagna, Katri Kulmuni, Mirosława Nykiel, Tiemo Wölken, Julie Rechagneux, Ľudovít Ódor, Aura Salla, Jorge Martín Frías, Angelika Niebler, Susanna Ceccardi, Isabella Tovaglieri and Barbara Bonte.

The following spoke: Helena Dalli.

The debate closed.

11. Presentation of the Court of Auditors’ annual report 2023 (debate)

Presentation of the Court of Auditors’ annual report 2023 (2024/2784(RSP))

Tony Murphy (President of the Court of Auditors) made the presentation.

The following spoke: Helena Dalli (Member of the Commission).

The following spoke: Tomáš Zdechovský, on behalf of the PPE Group, José Cepeda, on behalf of the S&D Group, Csaba Dömötör, on behalf of the PfE Group, Dick Erixon, on behalf of the ECR Group, Olivier Chastel, on behalf of the Renew Group, Daniel Freund, on behalf of the Verts/ALE Group, Jonas Sjöstedt, on behalf of The Left Group, Niclas Herbst, Giuseppe Lupo, Virginie Joron, Marco Squarta, Joachim Streit, Giuseppe Antoci, Monika Hohlmeier, Eero Heinäluoma, Julien Sanchez, Bogdan Rzońca, Ciaran Mullooly, Jacek Protas, Fernand Kartheiser, Caterina Chinnici and Dirk Gotink.

The following spoke under the catch-the-eye procedure: Sebastian Tynkkynen and Grzegorz Braun.

The following spoke: Helena Dalli and Tony Murphy.

The debate closed.

12. Findings of the Committee on the Elimination of Discrimination against Women on Poland’s abortion law (debate)

Commission statement: Findings of the Committee on the Elimination of Discrimination against Women on Poland’s abortion law (2024/2867(RSP))

Helena Dalli (Member of the Commission) made the statement.

The following spoke: Ewa Kopacz, on behalf of the PPE Group, Joanna Scheuring-Wielgus, on behalf of the S&D Group, Anna Bryłka, non-attached Member, Marlena Maląg, on behalf of the ECR Group, Abir Al-Sahlani, on behalf of the Renew Group, Alice Kuhnke, on behalf of the Verts/ALE Group, Manon Aubry, on behalf of The Left Group, Ewa Zajączkowska-Hernik, on behalf of the ESN Group (the President reminded the House of the rules on conduct), Arba Kokalari, Ana Catarina Mendes, Margarita de la Pisa Carrión, who also answered blue-card questions from Bruno Gonçalves, Raquel García Hermida-Van Der Walle and Irene Montero, Małgorzata Gosiewska, who also declined to take a blue-card question from Abir Al-Sahlani, Michał Kobosko, Mélissa Camara, Irene Montero, who also answered a blue-card question from Alvise Pérez, and Tomasz Froelich.

IN THE CHAIR: Christel SCHALDEMOSE
Vice-President

The following spoke: Grzegorz Braun, Elżbieta Katarzyna Łukacijewska, Heléne Fritzon, Laurence Trochu, who also answered a blue-card question from Manon Aubry, Raquel García Hermida-Van Der Walle, who also answered a blue-card question from Margarita de la Pisa Carrión, Benedetta Scuderi, Hanna Gedin, Maria Walsh, Krzysztof Śmiszek, Paolo Inselvini, who also answered a blue-card question from Hilde Vautmans, Lucia Yar, who also answered a blue-card question from Robert Biedroń, Mirosława Nykiel, Lina Gálvez, Birgit Sippel, Elisabeth Grossmann, Evin Incir, who also answered a blue-card question from Margarita de la Pisa Carrión, and Alessandra Moretti.

The following spoke under the catch-the-eye procedure: Łukasz Kohut, Juan Fernando López Aguilar, Emma Fourreau, Lukas Sieper, Magdalena Adamowicz, Bruno Gonçalves and João Oliveira.

The following spoke: Helena Dalli.

The debate closed.

13. Seven years from the assassination of Daphne Caruana Galizia: lack of progress in restoring the rule of law in Malta (debate)

Commission statement: Seven years from the assassination of Daphne Caruana Galizia: lack of progress in restoring the rule of law in Malta (2024/2868(RSP))

Didier Reynders (Member of the Commission) made the statement.

The following spoke: David Casa, on behalf of the PPE Group, Alex Agius Saliba, on behalf of the S&D Group, Fabrice Leggeri, on behalf of the PfE Group, Alessandro Ciriani, on behalf of the ECR Group, Moritz Körner, on behalf of the Renew Group, Daniel Freund, on behalf of the Verts/ALE Group, Konstantinos Arvanitis, on behalf of The Left Group, Ana Miguel Pedro, Juan Fernando López Aguilar, Sophie Wilmès, Gaetano Pedulla’, Judita Laššáková, Peter Agius, Daniel Attard, Veronika Cifrová Ostrihoňová, Isabel Wiseler-Lima, who also answered a blue-card question from Alex Agius Saliba, Evin Incir, Sunčana Glavak and Thomas Bajada.

The following spoke under the catch-the-eye procedure: Sandro Ruotolo, Katarína Roth Neveďalová and Lukas Sieper.

The following spoke: Didier Reynders.

IN THE CHAIR: Martin HOJSÍK
Vice-President

The debate closed.

14. The important role of cities and regions in the EU – for a green, social and prosperous local development (debate)

Commission statement: The important role of cities and regions in the EU – for a green, social and prosperous local development (2024/2869(RSP))

Didier Reynders (Member of the Commission) made the statement.

The following spoke: Andrey Novakov, on behalf of the PPE Group, Mohammed Chahim, on behalf of the S&D Group, Rody Tolassy, on behalf of the PfE Group, Denis Nesci, on behalf of the ECR Group, Ľubica Karvašová, on behalf of the Renew Group, Gordan Bosanac, on behalf of the Verts/ALE Group, Valentina Palmisano, on behalf of The Left Group, Arno Bausemer, on behalf of the ESN Group, Elena Nevado del Campo, Jean-Marc Germain, Jorge Buxadé Villalba, Şerban-Dimitrie Sturdza, Ciaran Mullooly, Vladimir Prebilič, Younous Omarjee, who also answered a blue-card question from Ana Miranda Paz, Nora Junco García, Krzysztof Hetman, Marcos Ros Sempere, Anne-Sophie Frigout, Waldemar Buda, Raquel García Hermida-Van Der Walle, Ana Miranda Paz, Elena Kountoura, Isabelle Le Callennec, Nora Mebarek, Raffaele Stancanelli, Ruggero Razza, Oihane Agirregoitia Martínez, Mārtiņš Staķis, Gabriella Gerzsenyi, Carla Tavares, Mireia Borrás Pabón, Barry Cowen, Fredis Beleris, René Repasi, Nikolina Brnjac, Javi López, Marco Falcone, Camilla Laureti, Antonio Decaro, Rosa Serrano Sierra, Dario Nardella, Sabrina Repp, Raffaele Topo, Marko Vešligaj, Aodhán Ó Ríordáin, Stefano Bonaccini, Sakis Arnaoutoglou, Sofie Eriksson and Alex Agius Saliba.

The following spoke under the catch-the-eye procedure: Nina Carberry, Maria Grapini, Sebastian Tynkkynen, Niels Geuking, Juan Fernando López Aguilar and Maravillas Abadía Jover.

The following spoke: Didier Reynders.

The debate closed.

15. Foreign interference and hybrid attacks: the need to strengthen EU resilience and internal security (debate)

Commission statement: Foreign interference and hybrid attacks: the need to strengthen EU resilience and internal security (2024/2884(RSP))

Didier Reynders (Member of the Commission) made the statement.

The following spoke: Lena Düpont, on behalf of the PPE Group, Hannes Heide, on behalf of the S&D Group, András László, on behalf of the PfE Group, Beata Szydło, on behalf of the ECR Group, Helmut Brandstätter, on behalf of the Renew Group, Alexandra Geese, on behalf of the Verts/ALE Group, Petar Volgin, on behalf of the ESN Group, and Mirosława Nykiel.

IN THE CHAIR: Antonella SBERNA
Vice-President

The following spoke: Tobias Cremer, who also answered a blue-card question from Reinier Van Lanschot, Aleksandar Nikolic, Rihards Kols, Reinier Van Lanschot, Kateřina Konečná, Ana Miguel Pedro, Brando Benifei, Nikola Bartůšek, Geadis Geadi, Javier Zarzalejos, Mathilde Androuët, Ivaylo Valchev, Pekka Toveri, Aurelijus Veryga, Salvatore De Meo and Patryk Jaki.

The following spoke under the catch-the-eye procedure: Michał Szczerba, Juan Fernando López Aguilar, Majdouline Sbai, András Tivadar Kulja, Vytenis Povilas Andriukaitis and Magdalena Adamowicz.

The following spoke: Didier Reynders.

The debate closed.

16. Proposals for Union acts

The President announced that the President of Parliament had declared the following proposals for Union acts to be admissible under Rule 47(2):

– Proposal for a Union act tabled by Jorge Buxadé Villalba, Juan Carlos Girauta Vidal, Mireia Borrás Pabón, Jorge Martín Frías, Margarita de la Pisa Carrión, Hermann Tertsch, on classifying the activity of military personnel, police officers, prison officers and private security guards as dangerous professions in the Union (B10-0018/2024)

committee responsible: EMPL

– Proposal for a Union act tabled by Jorge Buxadé Villalba, Hermann Tertsch, Juan Carlos Girauta Vidal, Mireia Borrás Pabón, Margarita de la Pisa Carrión, Jorge Martín Frías, on the need to protect families, businesses and self-employed persons from the rise in fuel prices in Europe (B10-0077/2024)

committee responsible: ECON
committee asked for opinion: ITRE

committee responsible: ECON
committee asked for opinion: EMPL

17. EU actions against the Russian shadow fleets and ensuring a full enforcement of sanctions against Russia (debate)

Commission statement: EU actions against the Russian shadow fleets and ensuring a full enforcement of sanctions against Russia (2024/2885(RSP))

Didier Reynders (Member of the Commission) made the statement.

The following spoke: Sandra Kalniete, on behalf of the PPE Group, Thijs Reuten, on behalf of the S&D Group, András László, on behalf of the PfE Group, Reinis Pozņaks, on behalf of the ECR Group, Gerben-Jan Gerbrandy, on behalf of the Renew Group, Isabella Lövin, on behalf of the Verts/ALE Group, Jonas Sjöstedt, on behalf of The Left Group, Zsuzsanna Borvendég, on behalf of the ESN Group, Francisco José Millán Mon, Heléne Fritzon, Veronika Vrecionová, Karin Karlsbro, Ville Niinistö, Li Andersson, Pekka Toveri, Sérgio Gonçalves, Arkadiusz Mularczyk, Ivars Ijabs, Per Clausen, Mika Aaltola, Emma Wiesner, Ondřej Kolář, Lukas Mandl and Tom Berendsen.

The following spoke under the catch-the-eye procedure: Vytenis Povilas Andriukaitis.

The following spoke: Didier Reynders.

Motions for resolutions to be tabled under Rule 136(2) would be announced at a later stage.

The debate closed.

Vote: next part-session.

18. Need to strengthen rail travel and the railway sector in Europe (debate)

Commission statement: Need to strengthen rail travel and the railway sector in Europe (2024/2896(RSP))

Didier Reynders (Member of the Commission) made the statement.

IN THE CHAIR: Javi LÓPEZ
Vice-President

The following spoke: Dariusz Joński, on behalf of the PPE Group, François Kalfon, on behalf of the S&D Group, Margarita de la Pisa Carrión, on behalf of the PfE Group, Marlena Maląg, on behalf of the ECR Group, Cynthia Ní Mhurchú, on behalf of the Renew Group, Kai Tegethoff, on behalf of the Verts/ALE Group, Elena Kountoura, on behalf of The Left Group, Arno Bausemer, on behalf of the ESN Group, Sophia Kircher, Vivien Costanzo, Jana Nagyová, Adrian-George Axinia, Ana Vasconcelos, who also answered a blue-card question from João Oliveira, Tilly Metz, Arash Saeidi, Luis-Vicențiu Lazarus, Nikolina Brnjac, Ondřej Krutílek, Pär Holmgren, Sebastian Everding, Kostas Papadakis and Krzysztof Hetman.

The following spoke under the catch-the-eye procedure: Marta Wcisło, Vytenis Povilas Andriukaitis, Ana Miranda Paz, João Oliveira, Elżbieta Katarzyna Łukacijewska, Per Clausen, Carmen Crespo Díaz and Magdalena Adamowicz.

The following spoke: Didier Reynders.

The debate closed.

19. Explanations of vote

Written explanations of vote

Explanations of vote submitted in writing under Rule 201 appear on the Members’ pages on Parliament’s website.

20. Agenda of the next sitting

The next sitting would be held the following day, 24 October 2024, starting at 09:00. The agenda was available on Parliament’s website.

21. Approval of the minutes of the sitting

In accordance with Rule 208(3), the minutes of the sitting would be put to the House for approval at the beginning of the afternoon of the next sitting.

22. Closure of the sitting

The sitting closed at 21:57.

LIST OF DOCUMENTS SERVING AS A BASIS FOR THE DEBATES AND DECISIONS OF PARLIAMENT

I. Motions for resolutions tabled

Urgent need to revise the Medical Devices Regulation

Motions for resolutions tabled under Rule 136(2) to wind up the debate:

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0121/2024)
Catarina Martins
on behalf of The Left Group

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0122/2024)
Christine Anderson
on behalf of the ESN Group

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0123/2024)
Tiemo Wölken
on behalf of the S&D Group

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0124/2024)
Andreas Glück
on behalf of the Renew Group

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0125/2024)
Peter Liese
on behalf of the PPE Group

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0126/2024)
Ignazio Roberto Marino
on behalf of the Verts/ALE Group

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0127/2024)
Ondřej Knotek, Viktória Ferenc
on behalf of the PfE Group

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (B10-0128/2024)
Ruggero Razza, Pietro Fiocchi, Michele Picaro, Laurence Trochu, Aurelijus Veryga
on behalf of the ECR Group

Joint motion for a resolution tabled under Rule 136(2) and (4):

on the urgent need to revise the Medical Devices Regulation (2024/2849(RSP)) (RC-B10-0123/2024/REV1) (replacing motions for resolutions B10-0123/2024, B10-0124/2024, B10-0125/2024, B10-0126/2024 and B10-0128/2024):

Peter Liese
on behalf of the PPE Group
Tiemo Wölken
on behalf of the S&D Group
Ondřej Knotek
on behalf of the PfE Group
Ruggero Razza
on behalf of the ECR Group
Andreas Glück
on behalf of the Renew Group
Ignazio Roberto Marino
on behalf of the Verts/ALE Group

II. Delegated acts (Rule 114(2))

Draft delegated acts forwarded to Parliament

– Commission Delegated Regulation supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council with regard to regulatory technical standards on information to be exchanged between competent authorities (C(2024)06766 – 2024/2875(DEA))

Deadline for raising objections: 3 months from the date of receipt of 10 October 2024

referred to committee responsible: ECON

– Commission Delegated Regulation amending Delegated Regulation (EU) 2020/688 as regards certain animal health requirements for movements within the Union of terrestrial animals (C(2024)06985 – 2024/2870(DEA))

Deadline for raising objections: 2 months from the date of receipt of 9 October 2024

referred to committee responsible: AGRI

– Commission Delegated Regulation amending Regulation (EU) No 649/2012 of the European Parliament and of the Council as regards the listing of pesticides and industrial chemicals (C(2024)07071 – 2024/2880(DEA))

Deadline for raising objections: 2 months from the date of receipt of 15 October 2024

referred to committee responsible: ENVI

– Commission Delegated Regulation amending Regulation (EU) 2019/1241 as regards short-necked clam and red seabream (C(2024)07102 – 2024/2876(DEA))

Deadline for raising objections: 2 months from the date of receipt of 11 October 2024

referred to committee responsible: PECH

– Commission Delegated Regulation amending Regulation (EC) No 1013/2006 as regards changes on shipments of electrical and electronic waste agreed under the Basel Convention (C(2024)07198 – 2024/2900(DEA))

Deadline for raising objections: 2 months from the date of receipt of 18 October 2024

referred to committee responsible: ENVI

– Commission Delegated Regulation amending Regulation (EU) 2024/1157 as regards changes on shipments of electrical and electronic waste agreed under the Basel Convention (C(2024)07199 – 2024/2899(DEA))

Deadline for raising objections: 2 months from the date of receipt of 18 October 2024

referred to committee responsible: ENVI

– Commission Delegated Regulation amending Regulation (EU) 2015/757 of the European Parliament and of the Council as regards the rules for the monitoring of greenhouse gas emissions from offshore ships and the zero-rating of sustainable fuels (C(2024)07210 – 2024/2894(DEA))

Deadline for raising objections: 2 months from the date of receipt of 16 October 2024

referred to committee responsible: ENVI

III. Implementing measures (Rule 115)

Draft implementing measures falling under the regulatory procedure with scrutiny forwarded to Parliament

– Commission Regulation amending Annex II to Regulation (EC) No 396/2005 of the European Parliament and of the Council as regards maximum residue levels for fenbuconazole and penconazole in or on certain products (D096823/04 – 2024/2898(RPS) – deadline: 18 December 2024)
referred to committee responsible: ENVI

– Commission Regulation amending Annex I to Regulation (EC) No 1334/2008 of the European Parliament and of the Council as regards the removal of the flavouring substance 4-Methyl-2-phenylpent-2-enal (FL No 05.100) from the Union list (D099950/02 – 2024/2873(RPS) – deadline: 11 January 2025)
referred to committee responsible: ENVI

– Commission Regulation amending Annex I to Regulation (EC) No 1334/2008 of the European Parliament and of the Council as regards the inclusion of (E)‐3‐benzo[1,3]dioxol‐5‐yl‐N,N‐diphenyl‐2‐propenamide in the Union list of flavourings (D099953/02 – 2024/2874(RPS) – deadline: 11 December 2024)
referred to committee responsible: ENVI

– Commission Regulation amending Regulations (EC) No 2150/2002 and (EC) No 1552/2005 of the European Parliament and of the Council, as well as Commission Regulations (EC) No 1726/1999, (EC) No 1916/2000, (EC) No 198/2006, (EC) No 1062/2008 and (EU) No 349/2011, as regards references to the statistical classification of economic activities NACE Revision 2 established by Regulation (EC) No 1893/2006 of the European Parliament and of the Council (D100325/01 – 2024/2901(RPS) – deadline: 21 January 2025)
referred to committees responsible: EMPL, ENVI

IV. Documents received

The following documents had been received:

– Proposal for transfer of appropriations DEC 12/2024 – Section III – Commission (N10-0019/2024 – C10-0122/2024 – 2024/2059(GBD))
referred to committee responsible: BUDG

– Proposal for transfer of appropriations DEC 13/2024 – Section III – Commission (N10-0021/2024 – C10-0135/2024 – 2024/2060(GBD))
referred to committee responsible: BUDG

V. Transfers of appropriations and budgetary decisions

In accordance with Article 29 of the Financial Regulation, the Committee on Budgets had decided to approve transfer of appropriations INF 5/2024 – Section VI – European Economic and Social Committee.

In accordance with Article 29 of the Financial Regulation, the Committee on Budgets had decided to approve transfer of appropriations INF 3/2024 – Section VII – Committee of the Regions.

In accordance with Article 29 of the Financial Regulation, the Committee on Budgets had decided to approve transfer of appropriations No 1/2024 – Section VIII – European Ombudsman.

In accordance with Article 31(3) of the Financial Regulation, the Committee on Budgets had decided to approve Commission transfers of appropriations DEC 09/2024 and DEC 10/2024 – Section III – Commission.

In accordance with Article 31(6) of the Financial Regulation, the Council of the European Union had decided to approve Commission transfers of appropriations DEC 09/2024 and DEC 10/2024 – Section III – Commission.

ATTENDANCE REGISTER

Present:

Aaltola Mika, Abadía Jover Maravillas, Adamowicz Magdalena, Aftias Georgios, Agirregoitia Martínez Oihane, Agius Peter, Agius Saliba Alex, Alexandraki Galato, Allione Grégory, Al-Sahlani Abir, Anadiotis Nikolaos, Anderson Christine, Andersson Li, Andresen Rasmus, Andrews Barry, Andriukaitis Vytenis Povilas, Androuët Mathilde, Angel Marc, Annemans Gerolf, Antoci Giuseppe, Arimont Pascal, Arłukowicz Bartosz, Arnaoutoglou Sakis, Arndt Anja, Arvanitis Konstantinos, Asens Llodrà Jaume, Assis Francisco, Attard Daniel, Aubry Manon, Auštrevičius Petras, Axinia Adrian-George, Azmani Malik, Bajada Thomas, Baljeu Jeannette, Ballarín Cereza Laura, Bardella Jordan, Barna Dan, Barrena Arza Pernando, Bartulica Stephen Nikola, Bartůšek Nikola, Bausemer Arno, Bay Nicolas, Bay Christophe, Beke Wouter, Beleris Fredis, Bellamy François-Xavier, Benea Adrian-Dragoş, Benifei Brando, Benjumea Benjumea Isabel, Beňová Monika, Bentele Hildegard, Berendsen Tom, Berger Stefan, Berlato Sergio, Bernhuber Alexander, Biedroń Robert, Bielan Adam, Bischoff Gabriele, Blaha Ľuboš, Blinkevičiūtė Vilija, Blom Rachel, Bloss Michael, Bocheński Tobiasz, Boeselager Damian, Bonaccini Stefano, Bonte Barbara, Borchia Paolo, Borrás Pabón Mireia, Borvendég Zsuzsanna, Borzan Biljana, Bosanac Gordan, Boßdorf Irmhild, Bosse Stine, Botenga Marc, Boyer Gilles, Boylan Lynn, Brandstätter Helmut, Brasier-Clain Marie-Luce, Braun Grzegorz, Brejza Krzysztof, Bricmont Saskia, Brnjac Nikolina, Bryłka Anna, Buczek Tomasz, Buda Waldemar, Budka Borys, Bugalho Sebastião, Buła Andrzej, Burkhardt Delara, Buxadé Villalba Jorge, Bžoch Jaroslav, Camara Mélissa, Canfin Pascal, Carberry Nina, Cârciu Gheorghe, Carême Damien, Casa David, Caspary Daniel, Cassart Benoit, Castillo Laurent, del Castillo Vera Pilar, Cavazzini Anna, Cavedagna Stefano, Ceccardi Susanna, Cepeda José, Ceulemans Estelle, Chahim Mohammed, Chaibi Leila, Chastel Olivier, Chinnici Caterina, Christensen Asger, Ciccioli Carlo, Cifrová Ostrihoňová Veronika, Ciriani Alessandro, Cisint Anna Maria, Clausen Per, Clergeau Christophe, Cormand David, Corrado Annalisa, Costanzo Vivien, Cotrim De Figueiredo João, Cowen Barry, Cremer Tobias, Crespo Díaz Carmen, Crosetto Giovanni, Cunha Paulo, Dahl Henrik, Danielsson Johan, Dauchy Marie, Dávid Dóra, David Ivan, Decaro Antonio, de la Hoz Quintano Raúl, Della Valle Danilo, Deloge Valérie, De Masi Fabio, De Meo Salvatore, Demirel Özlem, Deutsch Tamás, Devaux Valérie, Dibrani Adnan, Diepeveen Ton, Dieringer Elisabeth, Di Rupo Elio, Disdier Mélanie, Dobrev Klára, Doherty Regina, Doleschal Christian, Dömötör Csaba, Donazzan Elena, Dorfmann Herbert, Dostalova Klara, Dostál Ondřej, Droese Siegbert Frank, Düpont Lena, Dworczyk Michał, Ecke Matthias, Ehler Christian, Ehlers Marieke, Eriksson Sofie, Erixon Dick, Eroglu Engin, Estaràs Ferragut Rosa, Everding Sebastian, Ezcurra Almansa Alma, Falcă Gheorghe, Falcone Marco, Farantouris Nikolas, Farreng Laurence, Farský Jan, Ferber Markus, Ferenc Viktória, Fidanza Carlo, Fiocchi Pietro, Firea Gabriela, Firmenich Ruth, Fita Claire, Fourlas Loucas, Fourreau Emma, Fragkos Emmanouil, Freund Daniel, Frigout Anne-Sophie, Friis Sigrid, Fritzon Heléne, Froelich Tomasz, Fuglsang Niels, Funchion Kathleen, Furet Angéline, Furore Mario, Gahler Michael, Gál Kinga, Galán Estrella, Gálvez Lina, Gambino Alberico, García Hermida-Van Der Walle Raquel, Garraud Jean-Paul, Gasiuk-Pihowicz Kamila, Geadi Geadis, Gedin Hanna, Geese Alexandra, Geier Jens, Geisel Thomas, Gemma Chiara, Georgiou Giorgos, Gerbrandy Gerben-Jan, Germain Jean-Marc, Gerzsenyi Gabriella, Geuking Niels, Gieseke Jens, Giménez Larraz Borja, Girauta Vidal Juan Carlos, Glavak Sunčana, Glucksmann Raphaël, Goerens Charles, Gomart Christophe, Gomes Isilda, Gonçalves Bruno, Gonçalves Sérgio, González Casares Nicolás, González Pons Esteban, Gori Giorgio, Gosiewska Małgorzata, Gotink Dirk, Gozi Sandro, Grapini Maria, Gražulis Petras, Grims Branko, Griset Catherine, Gronkiewicz-Waltz Hanna, Grossmann Elisabeth, Grudler Christophe, Gualmini Elisabetta, Guetta Bernard, Guzenina Maria, Gyürk András, Hadjipantela Michalis, Hahn Svenja, Haider Roman, Halicki Andrzej, Hansen Christophe, Hansen Niels Flemming, Hassan Rima, Häusling Martin, Hava Mircea-Gheorghe, Hazekamp Anja, Heide Hannes, Heinäluoma Eero, Henriksson Anna-Maja, Herbst Niclas, Herranz García Esther, Hetman Krzysztof, Hohlmeier Monika, Hojsík Martin, Holmgren Pär, Hölvényi György, Humberto Sérgio, Ijabs Ivars, Imart Céline, Incir Evin, Inselvini Paolo, Iovanovici Şoşoacă Diana, Jaki Patryk, Jalloul Muro Hana, Jamet France, Jarubas Adam, Jerković Romana, Jongen Marc, Joński Dariusz, Joron Virginie, Jouvet Pierre, Joveva Irena, Juknevičienė Rasa, Junco García Nora, Jungbluth Alexander, Kabilov Taner, Kalfon François, Kaliňák Erik, Kalniete Sandra, Kamiński Mariusz, Kanev Radan, Kanko Assita, Karlsbro Karin, Kartheiser Fernand, Karvašová Ľubica, Katainen Elsi, Kefalogiannis Emmanouil, Kelleher Billy, Keller Fabienne, Kelly Seán, Kennes Rudi, Khan Mary, Kircher Sophia, Knafo Sarah, Knotek Ondřej, Kobosko Michał, Köhler Stefan, Kohut Łukasz, Kokalari Arba, Kolář Ondřej, Kollár Kinga, Kols Rihards, Konečná Kateřina, Kopacz Ewa, Körner Moritz, Kountoura Elena, Kovatchev Andrey, Krah Maximilian, Krištopans Vilis, Kruis Sebastian, Krutílek Ondřej, Kubilius Andrius, Kubín Tomáš, Kuhnke Alice, Kulja András Tivadar, Kulmuni Katri, Kyllönen Merja, Lagodinsky Sergey, Lakos Eszter, Lange Bernd, Langensiepen Katrin, Laššáková Judita, László András, Latinopoulou Afroditi, Laurent Murielle, Laureti Camilla, Laykova Rada, Lazarov Ilia, Lazarus Luis-Vicențiu, Le Callennec Isabelle, Leggeri Fabrice, Lenaers Jeroen, Leonardelli Julien, Lewandowski Janusz, Lexmann Miriam, Liese Peter, Lins Norbert, Løkkegaard Morten, Lopatka Reinhold, López Javi, López Aguilar Juan Fernando, López-Istúriz White Antonio, Lövin Isabella, Lucano Mimmo, Luena César, Łukacijewska Elżbieta Katarzyna, Lupo Giuseppe, McAllister David, Madison Jaak, Maestre Cristina, Magoni Lara, Maij Marit, Maląg Marlena, Mandl Lukas, Maniatis Yannis, Maran Pierfrancesco, Marczułajtis-Walczak Jagna, Maréchal Marion, Mariani Thierry, Marino Ignazio Roberto, Marquardt Erik, Martín Frías Jorge, Martins Catarina, Martusciello Fulvio, Marzà Ibáñez Vicent, Matthieu Sara, Mavrides Costas, Mayer Georg, Mazurek Milan, McNamara Michael, Mebarek Nora, Meimarakis Vangelis, Meleti Eleonora, Mendes Ana Catarina, Mendia Idoia, Mertens Verena, Mesure Marina, Metsola Roberta, Metz Tilly, Mikser Sven, Milazzo Giuseppe, Millán Mon Francisco José, Minchev Nikola, Mînzatu Roxana, Miranda Paz Ana, Molnár Csaba, Montero Irene, Montserrat Dolors, Morace Carolina, Morano Nadine, Moratti Letizia, Moreira de Sá Tiago, Moreno Sánchez Javier, Moretti Alessandra, Mularczyk Arkadiusz, Müller Piotr, Mullooly Ciaran, Mureşan Siegfried, Muşoiu Ştefan, Nagyová Jana, Nardella Dario, Negrescu Victor, Nemec Matjaž, Nerudová Danuše, Nesci Denis, Neumann Hannah, Nevado del Campo Elena, Nica Dan, Niebler Angelika, Niedermayer Luděk, Niinistö Ville, Nikolaou-Alavanos Lefteris, Nikolic Aleksandar, Ní Mhurchú Cynthia, Noichl Maria, Nordqvist Rasmus, Novakov Andrey, Nykiel Mirosława, Obajtek Daniel, Ódor Ľudovít, Oetjen Jan-Christoph, Ohisalo Maria, Oliveira João, Olivier Philippe, Omarjee Younous, Ondruš Branislav, Ó Ríordáin Aodhán, Orlando Leoluca, Ozdoba Jacek, Paet Urmas, Pajín Leire, Palmisano Valentina, Papadakis Kostas, Papandreou Nikos, Pappas Nikos, Pascual De La Parte Nicolás, Paulus Jutta, Pedro Ana Miguel, Pedulla’ Gaetano, Pellerin-Carlin Thomas, Peltier Guillaume, Penkova Tsvetelina, Pennelle Gilles, Pérez Alvise, Peter-Hansen Kira Marie, Petrov Hristo, Picaro Michele, Picierno Pina, Picula Tonino, Piera Pascale, Pimpie Pierre, Piperea Gheorghe, de la Pisa Carrión Margarita, Pokorná Jermanová Jaroslava, Polato Daniele, Polfjärd Jessica, Pozņaks Reinis, Prebilič Vladimir, Princi Giusi, Protas Jacek, Pürner Friedrich, Rackete Carola, Radev Emil, Radtke Dennis, Rafowicz Emma, Ratas Jüri, Razza Ruggero, Rechagneux Julie, Regner Evelyn, Repasi René, Repp Sabrina, Reuten Thijs, Riba i Giner Diana, Ricci Matteo, Ridel Chloé, Riehl Nela, Ripa Manuela, Rodrigues André, Ros Sempere Marcos, Roth Neveďalová Katarína, Rougé André, Ruissen Bert-Jan, Ruotolo Sandro, Rzońca Bogdan, Saeidi Arash, Salini Massimiliano, Salis Ilaria, Salla Aura, Sánchez Amor Nacho, Sanchez Julien, Sancho Murillo Elena, Saramo Jussi, Sardone Silvia, Šarec Marjan, Sargiacomo Eric, Satouri Mounir, Saudargas Paulius, Sbai Majdouline, Sberna Antonella, Schaldemose Christel, Schaller-Baross Ernő, Schenk Oliver, Scheuring-Wielgus Joanna, Schieder Andreas, Schilling Lena, Schneider Christine, Schwab Andreas, Scuderi Benedetta, Seekatz Ralf, Sell Alexander, Serrano Sierra Rosa, Serra Sánchez Isabel, Sidl Günther, Sienkiewicz Bartłomiej, Sieper Lukas, Simon Sven, Singer Christine, Sippel Birgit, Sjöstedt Jonas, Śmiszek Krzysztof, Smith Anthony, Smit Sander, Sokol Tomislav, Solier Diego, Solís Pérez Susana, Sommen Liesbet, Sonneborn Martin, Sorel Malika, Sousa Silva Hélder, Søvndal Villy, Squarta Marco, Staķis Mārtiņš, Stancanelli Raffaele, Steger Petra, Stier Davor Ivo, Storm Kristoffer, Stöteler Sebastiaan, Stoyanov Stanislav, Strack-Zimmermann Marie-Agnes, Strada Cecilia, Streit Joachim, Strik Tineke, Strolenberg Anna, Sturdza Şerban-Dimitrie, Stürgkh Anna, Sypniewski Marcin, Szczerba Michał, Szekeres Pál, Szydło Beata, Tamburrano Dario, Tânger Corrêa António, Tarczyński Dominik, Tarquinio Marco, Tarr Zoltán, Tavares Carla, Tegethoff Kai, Teodorescu Georgiana, Teodorescu Måwe Alice, Ter Laak Ingeborg, Terras Riho, Tertsch Hermann, Thionnet Pierre-Romain, Timgren Beatrice, Tinagli Irene, Tobback Bruno, Tobé Tomas, Tolassy Rody, Tomac Eugen, Tomašič Zala, Tomaszewski Waldemar, Tomc Romana, Tonin Matej, Toom Jana, Topo Raffaele, Torselli Francesco, Tosi Flavio, Toussaint Marie, Tovaglieri Isabella, Toveri Pekka, Tridico Pasquale, Trochu Laurence, Tsiodras Dimitris, Turek Filip, Tynkkynen Sebastian, Uhrík Milan, Ušakovs Nils, Vaidere Inese, Valchev Ivaylo, Vălean Adina, Valet Matthieu, Van Brempt Kathleen, Van Brug Anouk, van den Berg Brigitte, Vandendriessche Tom, Van Dijck Kris, Van Lanschot Reinier, Van Leeuwen Jessika, Vannacci Roberto, Van Sparrentak Kim, Varaut Alexandre, Vasconcelos Ana, Vautmans Hilde, Vedrenne Marie-Pierre, Ventola Francesco, Verheyen Sabine, Verougstraete Yvan, Veryga Aurelijus, Vešligaj Marko, Vicsek Annamária, Vieira Catarina, Vigenin Kristian, Vilimsky Harald, Vincze Loránt, Virkkunen Henna, Vistisen Anders, Vivaldini Mariateresa, Volgin Petar, von der Schulenburg Michael, Vondra Alexandr, Voss Axel, Vozemberg-Vrionidi Elissavet, Vrecionová Veronika, Vázquez Lázara Adrián, Waitz Thomas, Walsh Maria, Walsmann Marion, Warborn Jörgen, Warnke Jan-Peter, Wąsik Maciej, Wcisło Marta, Wechsler Andrea, Weimers Charlie, Werbrouck Séverine, Wiesner Emma, Wiezik Michal, Wilmès Sophie, Winkler Iuliu, Winzig Angelika, Wiseler-Lima Isabel, Wiśniewska Jadwiga, Wölken Tiemo, Wolters Lara, Yar Lucia, Yon-Courtin Stéphanie, Yoncheva Elena, Zacharia Maria, Zajączkowska-Hernik Ewa, Zalewska Anna, Žalimas Dainius, Zan Alessandro, Zarzalejos Javier, Zdechovský Tomáš, Zdrojewski Bogdan Andrzej, Zīle Roberts, Zingaretti Nicola, Złotowski Kosma, Zoido Álvarez Juan Ignacio, Zovko Željana, Zver Milan

Excused:

Gómez López Sandra, Homs Ginel Alicia, Lalucq Aurore

MIL OSI Europe News –

January 25, 2025

MIL-OSI Europe: ‘We try not to think about the future or the past’

Source: European Investment Bank

Vadym Chursin’s mother died long before the war. His father, Dmytro, has been his parent and best friend since he was very young. The two have grown even closer since their town near Ukraine’s southern border was occupied by Russian soldiers.

“There is barely anything left of our house today and not a single building still standing in our old town,” says Vadym, who is 16 years old and had lived in Oleshky, a city near Kherson, where his father ran a business building trendy tiny homes on wheels. For the past two years, father and son have been renting half a house about 220 kilometres to the west in Odesa, near Vadym’s new school. “We’re what people call displaced persons. There are many of us here and all of us are helping each other.”

Vadym attends Odesa School No. 41, one of the first schools repaired in 2021 under the European Investment Bank’s first Ukraine recovery programme. The Bank has helped modernise a group of Odesa schools since then and a city hospital.

Schools are a focus for the dozens of engineers, economists, loan officers and advisory specialists at the European Investment Bank who are trying to meet the urgent needs of Ukraine. Other critical work involves electricity lines, heating, water, roads, hospitals, community centres and bomb shelters. These types of projects allow people to go to work, drive to the doctor, buy groceries, get an education and stay safe during bomb attacks.

The Russian invasion has caused widespread devastation and created a humanitarian crisis in Ukraine and surrounding countries. Roads, bridges, hospitals, schools and residential buildings need repair in Ukraine, particularly in areas of intense fighting such as Kharkiv and the Donbas region. One study estimates economic damage in Ukraine at more than $150 billion since Russia invaded in February 2022. The cost of recovery over the next decade is estimated at about $500 billion.

The European Investment Bank is helping to renovate more than 300 schools, kindergartens, hospitals and social housing facilities in about 150 Ukrainian cities. It has improved electricity, gas, water, sanitation and solid waste management in more than a dozen regions, and has finished more than 100 projects. It receives new requests for help every week.

Pavel Novak, a public sector engineer at the European Investment Bank who is from Kyiv, where his parents still live, says a friend who was disabled in the war reminded him that soldiers are fighting to beat Russia, but also to see that other Ukrainians can continue to live normal lives in their home cities and communities today.

“My friend said to me, ‘Look, Pavel, we are doing this to keep life going on, bakeries and restaurants open, keep kids going to school and ensure that something beyond war still exists in this country.’”

In September 2024, the European Union’s financing arm proposed a €600 million energy rescue plan to help Ukraine as winter approaches, ensuring that businesses and homes have electricity and heat. Shelters will be built to protect electricity substations from bombings. The European Investment Bank is in regular discussions with Ukrhydroenergo, Ukraine’s largest hydropower company, and Ukrenergo, the national electricity transmission operator, to repair damaged power networks. It’s common for some parts of Ukraine to lose electricity for half of every day.

MIL OSI Europe News –

January 25, 2025
MIL-OSI Europe: Highlights – INTA Delegation to the UK to exchange on EU-UK economic and trade relations – Committee on International Trade

Source: European Parliament

A delegation of six Members of the Committee on International Trade (INTA), accompanied by the Chair of the Delegation to the EU-UK Parliamentary Partnership Assembly, will travel to London (UK) from 28 to 30 October 2024. The delegation, led by the INTA Chair, Bernd Lange (S&D, DE), will exchange with the UK government, parliamentarians and stakeholders on the trade aspects of the EU-UK Withdrawal Agreement, including the Windsor Framework, and the Trade and Cooperation Agreement.

The context of this visit is the ‘reset’ of the EU-UK relations announced recently by the UK Prime Minister, the first review of the TCA due in 2026 and the upcoming democratic consent vote of the Northern Ireland Legislative Assembly on the continuation of the application of major provisions of the Windsor Framework in December 2024.

The UK and the EU are also faced with the same challenges at global level regarding international trade. In the past decade, geopolitical and geoeconomic tensions have heightened, in part due to the strategic competition between the United States and China. In the last few years the situation has deteriorated further, notably due to the supply chain disruptions from the Covid-19 pandemic and to the impact of Russia’s war of aggression against Ukraine, as well as recently the major crisis in the Middle East, bringing both competitiveness and economic security to the forefront.

MIL OSI Europe News –

January 25, 2025
MIL-OSI Russia: Dmitry Chernyshenko: BRICS summit showed colossal success of President Vladimir Putin

Translation. Region: Russian Federation –

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

Dmitry Chernyshenko spoke at the opening of the first international scientific conference “Science for Public Administration in Russia”, which is being held at the Presidential Academy in Moscow

October 24, 2024

Rector of the Presidential Academy Alexey Komissarov

October 24, 2024

Dmitry Chernyshenko spoke at the opening of the first international scientific conference “Science for Public Administration in Russia”, which is being held at the Presidential Academy in Moscow

October 24, 2024

Previous news Next news

Dmitry Chernyshenko spoke at the opening of the first international scientific conference “Science for Public Administration in Russia”, which is being held at the Presidential Academy in Moscow

Deputy Prime Minister Dmitry Chernyshenko spoke at the opening of the first international scientific conference “Science for Public Administration in Russia”, which is being held at the Presidential Academy in Moscow on October 24–25.

At the beginning of his speech, the Deputy Prime Minister quoted President Vladimir Putin, noting that today science is the basis for solving many large-scale problems of the country. He also recalled the mission of a civil servant – service, the connection of his life with Russia and the people.

“It is symbolic that this conference is taking place within the walls of the Presidential Academy, which trains professionals for public service according to the highest standards. Today, about 274 thousand students study at the Academy and its 47 branches,” noted Dmitry Chernyshenko.

The Deputy Prime Minister emphasized that this is a difficult historical period, but Russia will be able to effectively confront challenges: this is evidenced by the unprecedentedly low level of unemployment and many other parameters.

“We see the colossal success of President Vladimir Putin in terms of recognition of Russia. 35 countries arrived in Kazan to participate in the BRICS summit, 22 are represented at the highest level – by their presidents. It is clear that Russia has become a center of attraction instead of an outcast. The entire progressive world has appreciated how our economy has not only withstood unprecedented pressure and the largest number of sanctions in the world, but also shows growth,” the Deputy Prime Minister emphasized.

The economies of the BRICS countries are developing at an accelerated pace. The share of the BRICS countries in the world economy in terms of purchasing power parity confidently exceeds the share of the “Big Seven”.

The plan to isolate Russia and ban everything Russian has failed. All countries want to live in a multipolar and fair world. Our policy is based on mutual respect, the sovereign equality of our states.

“The effective work of civil servants will determine how Russia will realize the window of opportunity. President Vladimir Putin said that the authorities must work constantly and intensely, like fighters on the front lines of the SVO. Such a comparison obliges us to do a lot. We must do everything in our place to achieve results and correspond to our spiritual and moral values,” noted Dmitry Chernyshenko.

The Deputy Prime Minister recalled that such traditional spiritual and moral values include serving the Fatherland and responsibility for its fate. Role models are needed to protect state sovereignty. To increase the number of such specialists, a Center for training managers for scientific and technological development and their teams was created this year at the Higher School of Public Administration of the Russian Presidential Academy of National Economy and Public Administration.

“I consider it important to create and improve mechanisms to ensure a strong connection between the Government’s management decisions and the advanced achievements of Russian science,” concluded Dmitry Chernyshenko.

The first international scientific conference “Science for Public Administration in Russia” brings together more than 2.8 thousand participants and 205 speakers. The event is dedicated to current issues of public administration and prospects for effective interaction between the economy, law and the social sphere in the context of modern global challenges.

“Development of the scientific potential of the Presidential Academy is one of the most important tasks for the coming years. Today, RANEPA is a leader in training civil servants in Russia. The President has instructed us to prepare the country’s new elite. I am confident that the accumulated knowledge and work experience will allow us to conduct the most modern and relevant scientific research. So that decisions can be made on their basis on how to counter new threats and challenges. The international scientific conference “Public Administration in Russia” is an important step in the implementation of this plan and the first such large-scale scientific event in the history of our country dedicated to the topic of public administration,” said Alexey Komissarov, Rector of the Presidential Academy.

Participants will also discuss priorities for scientific and technological development, strategic objectives for the development of science to ensure national security and technological independence of Russia, the economics of the scientific sphere, and much more.

The conference will feature the presentation of five books, including the first Russian textbook on management, prepared by the authors’ collective of the Presidential Academy, a meeting of the expert council on the development of the creative economy, and the signing of a number of agreements.

Participants in the plenary session included Vice President of the Russian Academy of Sciences Vladimir Ivanov, Rector of the Presidential Academy Alexey Komissarov, Dean of the Faculty of Economics of Lomonosov Moscow State University Alexander Auzan, Deputy Secretary of the Public Chamber of Russia Alexander Galushka. The moderator was Nikita Marchenkov, Chairman of the Coordination Council for Youth Affairs in Science and Education of the Presidential Council for Science and Education.

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

MIL OSI Russia News –

January 25, 2025
MIL-OSI Russia: Rosneft Increases Efficiency of Hydraulic Fracturing

Translation. Region: Russian Federation –

Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

Samotlorneftegaz, a Rosneft production asset, has reduced the construction time of wells using multi-stage hydraulic fracturing (MSHF) in deep formations to 5 days from 47 to 42. This result was achieved by using domestically produced new-model HF couplings. They are driven by new-model bushings with soluble balls of a single size.

Rosneft is systematically working on the development of domestic technologies and import substitution. Developments of corporate research institutes and equipment of domestic manufacturing plants are actively implemented at production sites.

The design feature of the new couplings made it possible to ensure the tightness of horizontal wells by fully cementing the shank. This allows for faster multistage hydraulic fracturing and an economic effect of up to 9 million rubles per cycle on one well. With traditional technology, couplings activated by dropping soluble balls of different diameters were used, and horizontal sections were isolated using specialized devices (casing packers), which increased the cost of the operation and extended the drilling time of the well.

The use of new-style couplings makes it possible to carry out hydraulic fracturing operations with an unlimited number of stages and increase the starting flow rate of wells.

Reference:

Samotlorneftegaz is one of the main production assets of Rosneft. The company is developing the largest Samotlor field in Russia, where industrial hydrocarbon production began in 1969. The share of wells with multistage hydraulic fracturing in the total volume of drilling of the company exceeds 86%.

Department of Information and Advertising of PJSC NK Rosneft October 24, 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.

MIL OSI Russia News –

January 25, 2025
MIL-OSI Russia: Rosneft increases efficiency of oil production and transportation

Translation. Region: Russian Federation –

Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

Rosneft Research Institute in Ufa held the annual scientific and technical conference “Oil and Gas Production and Transportation. New Technologies and Solutions”. The event brought together more than 200 industry experts from all over Russia. The Company’s scientists presented innovative technologies and digital solutions to improve the efficiency of field pipelines and wells.

Specialists from the Ufa Institute announced the development of a “virtual flow meter” algorithm for online monitoring of field production. The machine learning-based algorithm will compare well production rates with their potential in real time and create a list of wells whose production can be increased. The technology is planned to be implemented as part of the Digital Field project at Bashneft fields (part of Rosneft). The “virtual flow meter” algorithm is implemented in the RN-VEGA corporate software package and is already used by oil workers when interpreting field data.

The conference participants were presented with a new software product “RN-STIM” for modeling and designing the bottomhole formation zone. The simulator takes into account the characteristics of the rock, chemicals and the features of their interaction. This gives oil workers the opportunity to choose the most effective parameters of the well operation and increase production at the well. The functionality of the software was clearly demonstrated on real production projects during the organized master class.

Another unique development of the institute is the technology of welding bimetallic pipes*. Specialists have found a way to solve the problem of increased hardness and brittleness of the transition layer during one-sided welding of this type of pipes. Instead of the generally accepted technology of making the entire weld with stainless materials, Rosneft scientists proposed using a certain combination of stainless and low-alloy welding materials in combination with the redistribution of the force of the welding arc on the weld. Mechanical tests have shown that this technology increases the strength characteristics of welded joints, while the cost of welding materials is reduced by 3-7 times.

The conference participants showed particular interest in the application of successful practices at production enterprises. With the participation of specialists from the Ufa corporate institute, a technology for treating the bottomhole zone of a well using an acid-hydrocarbon emulsion was introduced. The composition provides an effective impact on the bottomhole zone of wells, due to the dissolution of asphaltene-resin-paraffin deposits and carbonate minerals of the rock. The technology was tested at Rosneft fields – the result was an increase in the growth of well flow rates by 15-20%.

*Bimetallic pipes are pipes consisting of two firmly connected layers of steel of different types

Department of Information and Advertising of PJSC NK Rosneft October 24, 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.

MIL OSI Russia News –

January 25, 2025
MIL-OSI Russia: Innovations in the digital economy were discussed at an international conference at the Polytechnic University

Translation. Region: Russian Federation –

Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

On October 17-18, the sixth annual international scientific conference on innovations in the digital economy SPBPU IDE-2024 was held at Peter the Great St. Petersburg Polytechnic University. The event was organized and held by the Higher School of Engineering and Economics (HSE) of the Institute of Industrial Management, Economics and Trade (IPMET) together with the Center for Sustainable Development of the University of Indonesia. The opening, plenary session and sections of the conference were held in the IPMET building, and participants from other countries and regions had the opportunity to join the conference via online communication.

Welcoming the participants, Vladimir Glukhov, Advisor to the Rectorate of SPbPU, noted that the conference is an important step towards strengthening international scientific cooperation and promotes knowledge exchange for the development of innovative potential, taking into account global challenges. Vladimir Shchepinin, Director of IPMEIT, emphasized the importance of discussing current issues and prospects for the development of the digital economy, and wished the participants fruitful work.

Cooperation with colleagues from Belarus, Armenia, Indonesia, Vietnam, China, India, and Tajikistan allows expanding the geography of research contacts. At the plenary session, VIES Director Dmitry Rodionov noted that holding such events helps promote the results of scientific activity of SPbPU scientists at the international level.

The partner for the conference was traditionally the University of Indonesia. At the plenary session, it was represented by the Deputy for Green and Digital Infrastructure of the Nusantara Administration, Professor Dr. Mohammed Ali Berawi.

Opening remarks and keynote speeches were given by partners from the University of Indonesia, Nanjing University, Russian-Armenian University, Belarusian State University of Informatics and Radioelectronics, Yerevan State University, Tashkent State University of Economics, Da Nang University, and the Indian Institute of Technology.

Special thanks for organizing and holding the plenary session and sections are expressed to the staff of VIESH, in particular Professor Andrey Zaitsev, Associate Professors Tatyana Mokeeva, Daria Krasnova, Ksenia Evseeva and assistant Daria Kryzhko.

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

MIL OSI Russia News –

January 25, 2025

MIL-OSI: Visteon Announces Third Quarter 2024 Results

Source: GlobeNewswire (MIL-OSI)

VAN BUREN TOWNSHIP, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC) today reported third quarter financial results. Highlights include:

Sales of $980 million with Growth-over-Market of 6%¹
Net income of $39 million and adjusted net income of $63 million
Adjusted EBITDA of $119 million
Launched 30 new products in the quarter and 71 year-to-date
New business wins of $4.9 billion year-to-date
Net cash of $229 million at quarter end

Visteon reported solid net sales of $980 million in a challenging production environment. We delivered 6% outperformance relative to customer vehicle production, driven by strong demand for digital cockpit and electrification products. Our market outperformance was offset by lower customer production and reduced customer recoveries resulting from improved semiconductor supply.

Gross margin in the third quarter was $131 million. Net income attributable to Visteon was $39 million or $1.40 per diluted share and adjusted net income, a non-GAAP measure defined below, was $63 million or $2.26 per diluted share. Net income, as compared to the prior year, includes the favorable impact of strong operational performance and lower net engineering, partially offset by restructuring expense incurred in the third quarter of 2024. Adjusted EBITDA, a non-GAAP measure defined below, was $119 million in the third quarter and reflects the Company’s strong focus on operational execution, commercial excellence, and cost discipline.

For the first nine months, cash from operations was $224 million, capital expenditures were $96 million and adjusted free cash flow, a non-GAAP measure defined below, was $135 million. The company ended the third quarter with cash of $553 million and debt of $324 million. Our strong balance sheet, with a net cash position of $229 million, provides the flexibility to deliver on our capital allocation priorities.

Visteon launched 30 new products in the third quarter, with launches across each of its product lines. Key third quarter launches include an infotainment display system on the Tata Punch, highlighting our continued momentum in India; SmartCore⁽^TM) on an electric SUV for Lynk & Co for the European market and the Renault Grand Koleos hybrid for the Korean market; a digital cluster on the Nissan Qashqai, a popular SUV in Europe; and a wireless BMS for the all-electric Jeep Wagoneer.

Visteon secured $4.9 billion in new business through the first nine months of the year, including $2.5 billion of wins with OEMs in Asia excluding China. Our success in diversifying into adjacent end-markets also continued, with further momentum with two-wheeler and commercial vehicle OEMs. Third quarter wins included a large, curved display for multiple mass market vehicles in Europe for a global OEM, SmartCore™ and display wins for a SUV model for an Indian OEM and for an electric vehicle for a domestic China OEM. We also had a follow-on win for a digital cluster with a two-wheeler OEM in India.

“Visteon delivered solid sales and growth-over-market in the third quarter, demonstrating our ability to navigate a challenging customer production environment,” said President and CEO Sachin Lawande. “Demand from our customers remains robust for our diverse product portfolio targeting automotive megatrends of digitalization and electrification. Our continued success in securing new business wins and our momentum with two-wheeler and commercial vehicle OEMs provide a strong foundation for future growth.”

Based on our year-to-date performance and outlook for the fourth quarter, Visteon is updating its full-year 2024 guidance and anticipates sales in the range of $3.85 – $3.90 billion, adjusted EBITDA in the range of $465 – $480 million, and adjusted free cash flow in the range of $165 – $185 million.

About Visteon

Visteon is advancing mobility through innovative technology solutions that enable a software-defined and electric future. With next-generation digital cockpit and electrification products, Visteon leverages the strength and agility of its global network with a local footprint to deliver a cleaner, safer and more connected vehicle experience. Headquartered in Van Buren Township, Michigan, Visteon operates in 17 countries worldwide, recorded approximately $3.95 billion in annual sales and booked $7.2 billion of new business in 2023. Learn more at investors.visteon.com/.

Conference Call and Presentation
Today, Thursday, October 24, at 9 a.m. ET, the company will host a conference call for the investment community to discuss the quarter’s results and other related items. The conference call is available to the general public via a live audio webcast.

The dial-in numbers to participate in the call are:

U.S./Canada: 1-888-330-2508
Outside U.S./Canada: 1-240-789-2735
Conference ID: 8897485

(Call approximately 10 minutes before the start of the conference.)

The conference call and live audio webcast, related presentation materials and other supplemental information will be accessible in the Investors section of Visteon’s website.

Use of Non-GAAP Financial Information

Because not all companies use identical calculations, adjusted EBITDA, adjusted net income, adjusted EPS, free cash flow and adjusted free cash flow used throughout this press release may not be comparable to other similarly titled measures of other companies.

In order to provide the forward-looking non-GAAP financial measures for full-year 2024, the company provides reconciliations to the most directly comparable GAAP financial measures on the subsequent slides. The provision of these comparable GAAP financial measures is not intended to indicate that the company is explicitly or implicitly providing projections on those GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the company at the date of this press release and the adjustments that management can reasonably predict.

Forward-looking Information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “will,” “may,” “designed to,” “outlook,” “believes,” “should,” “anticipates,” “plans,” “expects,” “intends,” “estimates,” “forecasts” and similar expressions identify certain of these forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including, but not limited to:

continued and future impacts of the geopolitical conflicts and related supply chain disruptions, including but not limited to the conflicts in the Middle East, Russia and East Asia and the possible imposition of sanctions;
significant or prolonged shortage of critical components from our suppliers, including but not limited to semiconductors, and particularly those who are our sole or primary sources;
failure of the Company’s joint venture partners to comply with contractual obligations or to exert influence or pressure in China;
conditions within the automotive industry, including (i) the automotive vehicle production volumes and schedules of our customers, (ii) the financial condition of our customers and the effects of any restructuring or reorganization plans that may be undertaken by our customers, including work stoppages at our customers, and (iii) possible disruptions in the supply of commodities to us or our customers due to financial distress, work stoppages, natural disasters or civil unrest;
our ability to satisfy future capital and liquidity requirements; including our ability to access the credit and capital markets at the times and in the amounts needed and on terms acceptable to us; our ability to comply with financial and other covenants in our credit agreements; and the continuation of acceptable supplier payment terms;
our ability to access funds generated by foreign subsidiaries and joint ventures on a timely and cost-effective basis;
general economic conditions, including changes in interest rates and fuel prices; the timing and expenses related to internal restructurings, employee reductions, acquisitions or dispositions and the effect of pension and other post-employment benefit obligations;
disruptions in information technology systems including, but not limited to, system failure, cyber-attack, malicious computer software (malware including ransomware), unauthorized physical or electronic access, or other natural or man-made incidents or disasters;
increases in raw material and energy costs and our ability to offset or recover these costs; increases in our warranty, product liability and recall costs or the outcome of legal or regulatory proceedings to which we are or may become a party;
changes in laws, regulations, policies or other activities of governments, agencies and similar organizations, domestic and foreign, that may tax or otherwise increase the cost of, or otherwise affect, the manufacture, licensing, distribution, sale, ownership or use of our products or assets; and
those factors identified in our filings with the SEC (including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by our subsequent filings with the Securities and Exchange Commission).

Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The financial results presented herein are preliminary and unaudited; final financial results will be included in the company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024. New business wins and re-wins do not represent firm orders or firm commitments from customers, but are based on various assumptions, including the timing and duration of product launches, vehicle production levels, customer price reductions and currency exchange rates.

Follow Visteon:

https://www.linkedin.com/company/visteon
https://twitter.com/visteon
https://www.facebook.com/VisteonCorporation
https://www.youtube.com/user/Visteon
https://www.instagram.com/visteon/
https://mp.weixin.qq.com/?lang=en_US
https://m.weibo.cn/u/6605315328
http://i.youku.com/u/UNDgyMjA1NjUxNg==?spm=a2h0k.8191407.0.0

VISTEON CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In millions except per share amounts) (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
		2024			2023			2024			2023

Net sales	$	980		$	1,014		$	2,927		$	2,964
Cost of sales		(849	)		(871	)		(2,530	)		(2,607	)
Gross margin		131			143			397			357
Selling, general and administrative expenses		(51	)		(52	)		(152	)		(156	)
Restructuring, net		(28	)		—			(31	)		(2	)
Interest expense, net		—			(1	)		—			(7	)
Equity in net income (loss) of non-consolidated affiliates		(3	)		(1	)		(7	)		(8	)
Other income (expense), net		2			3			7			(4	)
Income (loss) before income taxes		51			92			214			180
Provision for income taxes		(11	)		(21	)		(55	)		(48	)
Net income (loss)		40			71			159			132
Less: Net (income) loss attributable to non-controlling interests		(1	)		(5	)		(7	)		(12	)
Net income (loss) attributable to Visteon Corporation	$	39		$	66		$	152		$	120

Comprehensive income (loss)	$	69		$	58		$	153		$	114
Less: Comprehensive (income) loss attributable to non-controlling interests		(7	)		(4	)		(10	)		(6	)
Comprehensive income (loss) attributable to Visteon Corporation	$	62		$	54		$	143		$	108

Basic earnings (loss) per share attributable to Visteon Corporation	$	1.41		$	2.35		$	5.51		$	4.26

Diluted earnings (loss) per share attributable to Visteon Corporation	$	1.40		$	2.32		$	5.45		$	4.20

Average shares outstanding (in millions)
Basic		27.6			28.1			27.6			28.2
Diluted		27.9			28.5			27.9			28.6

VISTEON CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions)

	*(Unaudited)*
	September 30,			December 31,
		2024			2023
ASSETS
Cash and equivalents	$	550		$	515
Restricted cash		3			3
Accounts receivable, net		719			666
Inventories, net		321			298
Other current assets		109			134
Total current assets		1,702			1,616

Property and equipment, net		438			418
Intangible assets, net		157			90
Right-of-use assets		103			109
Investments in non-consolidated affiliates		27			35
Deferred tax assets		387			384
Other non-current assets		79			75
Total assets	$	2,893		$	2,727

LIABILITIES AND EQUITY
Short-term debt	$	18		$	18
Accounts payable		547			551
Accrued employee liabilities		98			99
Current lease liability		29			30
Other current liabilities		245			233
Total current liabilities		937			931

Long-term debt, net		306			318
Employee benefits		143			160
Non-current lease liability		79			79
Deferred tax liabilities		46			31
Other non-current liabilities		109			85

Stockholders’ equity:
Common stock		1			1
Additional paid-in capital		1,369			1,356
Retained earnings		2,426			2,274
Accumulated other comprehensive loss		(263	)		(254	)
Treasury stock		(2,348	)		(2,339	)
Total Visteon Corporation stockholders’ equity		1,185			1,038
Non-controlling interests		88			85
Total equity		1,273			1,123
Total liabilities and equity	$	2,893		$	2,727

VISTEON CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
		2024			2023			2024			2023
OPERATING
Net income (loss)	$	40		$	71		$	159		$	132
Adjustments to reconcile net income (loss) to net cash provided from (used by) operating activities:
Depreciation and amortization		25			24			71			79
Non-cash stock-based compensation		10			9			31			26
Equity in net loss (income) of non-consolidated affiliates, net of dividends remitted		3			1			7			8
Tax valuation allowance benefit		(7	)		—			(7	)		—
Other non-cash items		3			1			10			(3	)
Changes in assets and liabilities:
Accounts receivable		(6	)		(12	)		(55	)		(19	)
Inventories		—			6			(23	)		23
Accounts payable		(5	)		35			3			(54	)
Other assets and other liabilities		35			(8	)		28			(23	)
Net cash provided from (used by) operating activities		98			127			224			169
INVESTING
Capital expenditures, including intangibles		(28	)		(31	)		(96	)		(82	)
Acquisition of business, net of cash acquired		(48	)		—			(48	)		—
Contributions to equity method investments		(1	)		(1	)		(1	)		(1	)
Loan provided to non-consolidated affiliate		—			—			(5	)		—
Other		1			1			2			3
Net cash used by investing activities		(76	)		(31	)		(148	)		(80	)
FINANCING
Dividends to non-controlling interests		—			(12	)		—			(27	)
Short-term debt, net		—			(3	)		—			—
Repurchase of common stock		—			(46	)		(20	)		(76	)
Stock based compensation tax withholding payments		—			(1	)		(7	)		(16	)
Proceeds from the exercise of stock options		—			4			—			8
Principal repayment of term debt facility		(4	)		(4	)		(13	)		(8	)
Net cash used by financing activities		(4	)		(62	)		(40	)		(119	)
Effect of exchange rate changes on cash		27			(8	)		(1	)		(8	)
Net decrease in cash, equivalents, and restricted cash		45			26			35			(38	)
Cash, equivalents, and restricted cash at beginning of the period		508			459			518			523
Cash, equivalents, and restricted cash at end of the period	$	553		$	485		$	553		$	485

VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)

Adjusted EBITDA: Adjusted EBITDA is presented as a supplemental measure of the Company’s performance that management believes is useful to investors because the excluded items may vary significantly in timing or amounts and/or may obscure trends useful in evaluating and comparing the Company’s operating activities across reporting periods. The Company defines adjusted EBITDA as net income attributable to the Company adjusted to eliminate the impact of depreciation and amortization, provision for (benefit from) income taxes, non-cash stock-based compensation expense, net interest expense, net income attributable to non-controlling interests, net restructuring expense, equity in net (income)/loss of non-consolidated affiliates, gain on non-consolidated affiliate transactions, and other gains and losses not reflective of the Company’s ongoing operations. Because not all companies use identical calculations, this presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies.

	Three Months Ended				Nine Months Ended				Estimated
	September 30,				September 30,				Full Year
Visteon:		2024		2023		2024		2023		2024
Net income attributable to Visteon Corporation	$	39	$	66	$	152	$	120		202
Depreciation and amortization		25		24		71		79		96
Provision for income taxes		11		21		55		48		75
Non-cash, stock-based compensation expense		10		9		31		26		42
Restructuring, net		28		—		31		2		34
Interest expense, net		—		1		—		7		—
Net income attributable to non-controlling interests		1		5		7		12		10
Equity in net loss (income) of non-consolidated affiliates		3		1		7		8		9
Other		2		1		3		15		5
Adjusted EBITDA	$	119	$	128	$	357	$	317	$	473²

Adjusted EBITDA is not a recognized term under U.S. GAAP and does not purport to be a substitute for net income as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool and is not intended to be a measure of cash flow available for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. In addition, the Company uses adjusted EBITDA (i) as a factor in incentive compensation decisions, (ii) to evaluate the effectiveness of the Company’s business strategies, and (iii) because the Company’s credit agreements use similar measures for compliance with certain covenants.

VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)

Free Cash Flow and Adjusted Free Cash Flow: Free cash flow and adjusted free cash flow are presented as supplemental measures of the Company’s liquidity that management believes are useful to investors in analyzing the Company’s ability to service and repay its debt. The Company defines free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles. The Company defines adjusted free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles as further adjusted for restructuring related payments. Because not all companies use identical calculations, this presentation of free cash flow and adjusted free cash flow may not be comparable to other similarly titled measures of other companies.

	Three Months Ended						Nine Months Ended						Estimated
	September 30,						September 30,						Full Year
Visteon:		2024			2023			2024			2023			2024
Cash provided from (used by) operating activities	$	98		$	127		$	224		$	169			305
Capital expenditures, including intangibles		(28	)		(31	)		(96	)		(82	)		(145	)
Free cash flow	$	70		$	96		$	128		$	87		$	160
Restructuring related payments		3			2			7			6			15
Adjusted free cash flow	$	73		$	98		$	135		$	93		$	175³

Free cash flow and adjusted free cash flow are not recognized terms under U.S. GAAP and do not purport to be a substitute for cash flows from operating activities as a measure of liquidity. Free cash flow and adjusted free cash flow have limitations as analytical tools as they do not reflect cash used to service debt and do not reflect funds available for investment or other discretionary uses. In addition, the Company uses free cash flow and adjusted free cash flow (i) as factors in incentive compensation decisions and (ii) for planning and forecasting future periods.

VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)

Adjusted Net Income and Adjusted Earnings Per Share: Adjusted net income and adjusted earnings per share are presented as supplemental measures that management believes are useful to investors in analyzing the Company’s profitability, providing comparability between periods by excluding certain items that may not be indicative of recurring business operating results. The Company believes management and investors benefit from referring to these supplemental measures in assessing company performance and when planning, forecasting and analyzing future periods. The Company defines adjusted net income as net income attributable to Visteon adjusted to eliminate the impact of restructuring expense, loss on divestiture, gain on non-consolidated affiliate transactions, other gains and losses not reflective of the Company’s ongoing operations and related tax effects. The Company defines adjusted earnings per share as adjusted net income divided by diluted shares. Because not all companies use identical calculations, this presentation of adjusted net income and adjusted earnings per share may not be comparable to other similarly titled measures of other companies.

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
		2024			2023		2024			2023
Net income attributable to Visteon	$	39		$	66	$	152		$	120

Diluted earnings per share:
Net income attributable to Visteon	$	39		$	66	$	152		$	120
Average shares outstanding, diluted		27.9			28.5		27.9			28.6
Diluted earnings per share	$	1.40		$	2.32	$	5.45		$	4.20

Adjusted net income and adjusted earnings per share:
Net income attributable to Visteon	$	39		$	66	$	152		$	120
Restructuring, net		28			—		31			2
Other		2			1		3			15
Tax impacts of adjustments		(6	)		—		(7	)		—
Adjusted net income	$	63		$	67	$	179		$	137
Average shares outstanding, diluted		27.9			28.5		27.9			28.6
Adjusted earnings per share	$	2.26		$	2.35	$	6.42		$	4.79

Adjusted net income and adjusted earnings per share are not recognized terms under U.S. GAAP and do not purport to be a substitute for profitability. Adjusted net income and adjusted earnings per share have limitations as analytical tools as they do not consider certain restructuring and transaction-related payments and/or expenses. In addition, the Company uses adjusted net income and adjusted earnings per share for internal planning and forecasting purposes.

¹ Excludes Y/Y impact of currency fluctuations
² Based on mid-point of the range of the Company’s financial guidance
³ Based on mid-point of the range of the Company’s financial guidance

The MIL Network –

January 25, 2025

MIL-OSI Global: The Terminator at 40: this sci-fi ‘B-movie’ still shapes how we view the threat of AI

Source: The Conversation – UK – By Tom F.A Watts, Postdoctoral Fellow, Department of Politics, International Relations and Philosophy, Royal Holloway University of London

October 26, 2024 marks the 40th anniversary of director James Cameron’s science fiction classic, The Terminator – a film that popularised society’s fear of machines that can’t be reasoned with, and that “absolutely will not stop … until you are dead”, as one character memorably puts it.

The plot concerns a super-intelligent AI system called Skynet which has taken over the world by initiating nuclear war. Amid the resulting devastation, human survivors stage a successful fightback under the leadership of the charismatic John Connor.

In response, Skynet sends a cyborg assassin (played by Arnold Schwarzenegger) back in time to 1984 – before Connor’s birth – to kill his future mother, Sarah. Such is John Connor’s importance to the war that Skynet banks on erasing him from history to preserve its existence.

Today, public interest in artificial intelligence has arguably never been greater. The companies developing AI typically promise their technologies will perform tasks faster and more accurately than people. They claim AI can spot patterns in data that are not obvious, enhancing human decision-making. There is a widespread perception that AI is poised to transform everything from warfare to the economy.

Immediate risks include introducing biases into algorithms for screening job applications and the threat of generative AI displacing humans from certain types of work, such as software programming.

But it is the existential danger that often dominates public discussion – and the six Terminator films have exerted an outsize influence on how these arguments are framed. Indeed, according to some, the films’ portrayal of the threat posed by AI-controlled machines distracts from the substantial benefits offered by the technology.

Official trailer for The Terminator (1984)

The Terminator was not the first film to tackle AI’s potential dangers. There are parallels between Skynet and the HAL 9000 supercomputer in Stanley Kubrick’s 1968 film, 2001: A Space Odyssey.

It also draws from Mary Shelley’s 1818 novel, Frankenstein, and Karel Čapek’s 1921 play, R.U.R.. Both stories concern inventors losing control over their creations.

On release, it was described in a review by the New York Times as a “B-movie with flair”. In the intervening years, it has been recognised as one of the greatest science fiction movies of all time. At the box office, it made more than 12 times its modest budget of US$6.4 million (£4.9 million at today’s exchange rate).

What was arguably most novel about The Terminator is how it re-imagined longstanding fears of a machine uprising through the cultural prism of 1980s America. Much like the 1983 film WarGames, where a teenager nearly triggers World War 3 by hacking into a military supercomputer, Skynet highlights cold war fears of nuclear annihilation coupled with anxiety about rapid technological change.

Read more:
Science fiction helps us deal with science fact: a lesson from Terminator’s killer robots

Forty years on, Elon Musk is among the technology leaders who have helped keep a focus on the supposed existential risk of AI to humanity. The owner of X (formerly Twitter) has repeatedly referenced the Terminator franchise while expressing concerns about the hypothetical development of superintelligent AI.

But such comparisons often irritate the technology’s advocates. As the former UK technology minister Paul Scully said at a London conference in 2023: “If you’re only talking about the end of humanity because of some rogue, Terminator-style scenario, you’re going to miss out on all of the good that AI [can do].”

That’s not to say there aren’t genuine concerns about military uses of AI – ones that may even seem to parallel the film franchise.

AI-controlled weapons systems

To the relief of many, US officials have said that AI will never take a decision on deploying nuclear weapons. But combining AI with autonomous weapons systems is a possibility.

These weapons have existed for decades and don’t necessarily require AI. Once activated, they can select and attack targets without being directly operated by a human. In 2016, US Air Force general Paul Selva coined the term “Terminator conundrum” to describe the ethical and legal challenges posed by these weapons.

The Terminator’s director James Cameron says ‘the weaponisation of AI is the biggest danger’.

Stuart Russell, a leading UK computer scientist, has argued for a ban on all lethal, fully autonomous weapons, including those with AI. The main risk, he argues, is not from a sentient Skynet-style system going rogue, but how well autonomous weapons might follow our instructions, killing with superhuman accuracy.

Russell envisages a scenario where tiny quadcopters equipped with AI and explosive charges could be mass-produced. These “slaughterbots” could then be deployed in swarms as “cheap, selective weapons of mass destruction”.

Countries including the US specify the need for human operators to “exercise appropriate levels of human judgment over the use of force” when operating autonomous weapon systems. In some instances, operators can visually verify targets before authorising strikes, and can “wave off” attacks if situations change.

AI is already being used to support military targeting. According to some, it’s even a responsible use of the technology, since it could reduce collateral damage. This idea evokes Schwarzenegger’s role reversal as the benevolent “machine guardian” in the original film’s sequel, Terminator 2: Judgment Day.

However, AI could also undermine the role human drone operators play in challenging recommendations by machines. Some researchers think that humans have a tendency to trust whatever computers say.

‘Loitering munitions’

Militaries engaged in conflicts are increasingly making use of small, cheap aerial drones that can detect and crash into targets. These “loitering munitions” (so named because they are designed to hover over a battlefield) feature varying degrees of autonomy.

As I’ve argued in research co-authored with security researcher Ingvild Bode, the dynamics of the Ukraine war and other recent conflicts in which these munitions have been widely used raises concerns about the quality of control exerted by human operators.

Ground-based military robots armed with weapons and designed for use on the battlefield might call to mind the relentless Terminators, and weaponised aerial drones may, in time, come to resemble the franchise’s airborne “hunter-killers”. But these technologies don’t hate us as Skynet does, and neither are they “super-intelligent”.

However, it’s crucially important that human operators continue to exercise agency and meaningful control over machine systems.

Arguably, The Terminator’s greatest legacy has been to distort how we collectively think and speak about AI. This matters now more than ever, because of how central these technologies have become to the strategic competition for global power and influence between the US, China and Russia.

The entire international community, from superpowers such as China and the US to smaller countries, needs to find the political will to cooperate – and to manage the ethical and legal challenges posed by the military applications of AI during this time of geopolitical upheaval. How nations navigate these challenges will determine whether we can avoid the dystopian future so vividly imagined in The Terminator – even if we don’t see time travelling cyborgs any time soon.

Tom F.A Watts receives funding from the Leverhulme Trust Early Career Research Fellowship scheme.

– ref. The Terminator at 40: this sci-fi ‘B-movie’ still shapes how we view the threat of AI – https://theconversation.com/the-terminator-at-40-this-sci-fi-b-movie-still-shapes-how-we-view-the-threat-of-ai-236564

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI China: Xi urges ‘BRICS Plus’ countries to uphold peace, achieve common security

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

KAZAN, Russia, Oct. 24 — Chinese President Xi Jinping on Thursday called on “BRICS Plus” countries to firmly uphold peace and strive for common security.

Xi made the remarks while addressing the “BRICS Plus” leaders’ dialogue.

“BRICS Plus” countries should be a stabilizing force for peace, strengthen global security governance, and explore ways to address both the symptoms and root causes of hotspot issues, he added.

Noting that the collective rise of the Global South is a distinctive feature of the great transformation across the world, Xi said that Global South countries marching together toward modernization is monumental in world history and unprecedented in human civilization.

The Global South emerges for development and prospers through development, he said, urging “BRICS Plus” countries to make themselves the main driving force for common development.

“BRICS Plus” countries should play an active and leading role in the global economic governance reform, and make development the core of international economic and trade agenda, Xi added.

“BRICS Plus” countries should also be advocates for exchanges among civilizations, he said, calling on “BRICS Plus” countries to enhance communication and dialogue, and support each other in taking the path to modernization suited to their respective national conditions.

Xi also said that China will coordinate with others to form a Global South Think Tanks Alliance to promote people-to-people exchanges and experience-sharing in governance.

No matter how the international landscape evolves, China will always keep the Global South in heart, and maintain its roots in the Global South, he added.

MIL OSI China News –

January 25, 2025
MIL-OSI Video: President Cyril Ramaphosa’s wrap up interview BRICS Summit in Russia

Source: Republic of South Africa (video statements)

President Cyril Ramaphosa’s wrap up interview BRICS Summit in Russia

https://www.youtube.com/watch?v=jz1NsCu2NuU

MIL OSI Video –

January 25, 2025
MIL-OSI Russia: The government has allocated more than one billion rubles to support businesses in a number of border regions

Translation. Region: Russian Federation –

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

More than 1 billion rubles will be sent to the Ministry of Labor to provide subsidies to legal entities and individual entrepreneurs in the Belgorod, Bryansk and Kursk regions. The order to this effect was signed by Prime Minister Mikhail Mishustin.

The funds will be used to partially compensate for the costs of paying employees for forced downtime.

The decision was made on the instructions of the President. The head of state gave it following a meeting on the situation in the border regions on August 22.

Mikhail Mishustin, commenting on the question onGovernment meeting on October 24, recalled that the Government had previously allocated resources for payments to residents of three border regions in need of support. A mechanism for creating a free economic zone regime in certain territories for private companies has also been launched. They will be able to enjoy tax breaks on profits, property, and insurance premiums.

The Prime Minister emphasized that the new decision will reduce the costs of enterprises and preserve production and employees.

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

MIL OSI Russia News –

January 25, 2025
MIL-OSI Russia: The government will allocate more than a third of a billion rubles to provide water supply to residents of Kalmykia and Chuvashia

Translation. Region: Russian Federation –

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

The decision was made on the instructions of the President.

The government continues to help regions develop public utility infrastructure. A total of more than 370 million rubles will be allocated for the construction of a water pipeline in Kalmykia and distribution water supply networks in Chuvashia. The orders to this effect were signed by Prime Minister Mikhail Mishustin.

In Kalmykia, construction of the Verkhniy Yashkul-Elista water pipeline will begin in 2024 using federal funding. This structure will improve the quality of water supply for residents of Elista and suburban settlements.

Commenting on the decision takenGovernment meeting on October 24, Mikhail Mishustin noted that the territory of Kalmykia is considered the driest in the country. This requires special attention from both regional and federal authorities. According to the Prime Minister, the topic of improving water supply was discussed in detail during his working visit to this region in February 2021.

The implementation of the project in Chuvashia will provide high-quality drinking water to residents of two villages in the Batyrevsky municipal district. There, by the end of 2024, it is planned to complete the creation of several sections of distribution water supply networks in the settlements of Staroye Akhperdino and Novoye Bakhtiarovo.

“We will continue to progressively solve the problems of organizing reliable water supply in all areas where people live,” Mikhail Mishustin emphasized.

Providing the population of Chuvashia with clean drinking water is one of the instructions of the President, which concerned issues of the socio-economic development of the Chuvash Republic. Similar instructions were given by the head of state regarding the development of the communal infrastructure of Kalmykia. Both instructions appeared in April 2024.

The documents will be published.

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

MIL OSI Russia News –

January 25, 2025
MIL-OSI China: BRICS countries enhance cooperation through close economic, trade exchanges

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

BEIJING, Oct. 24 — Economic and trade ties among BRICS countries are becoming increasingly close, and China is playing an important role in driving mutually beneficial BRICS cooperation.

The term BRIC was initially coined in 2001 as a concept referring to the emerging market economies of Brazil, Russia, India and China. With South Africa’s inclusion in 2010, BRICS officially took shape.

Following last year’s expansion, the BRICS grouping now represents approximately 30 percent of global GDP, nearly half of the world’s population, and one-fifth of global trade. It has become the world’s most important platform for solidarity and cooperation among emerging markets and developing countries.

The 16th BRICS Summit, held Tuesday to Thursday in Kazan, Russia, has drawn global attention and is believed to bring new economic and trade cooperation opportunities between China and other BRICS nations.

China’s foreign trade with other BRICS member countries reached 4.62 trillion yuan (648 billion U.S. dollars) in the first nine months of 2024, a year-on-year increase of 5.1 percent, customs data showed.

The trade growth can be attributed to a high degree of economic complementarity, as well as China’s commitment to high-level opening up and the free trade agreements between China and other BRICS countries, said Hong Yong, a researcher with the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

In the industrial sector, China’s exports of steel and textile raw materials to other BRICS nations grew by 8.6 percent and 13.4 percent year on year in the first three quarters.

During the same period, China’s exports of intermediate goods such as integrated circuits, tablet display modules and aircraft parts to other BRICS countries achieved double-digit growth, helping other BRICS members boost their emerging industries.

Trade in agricultural products has also been robust. In the first three quarters, over 80 percent of poultry and frozen pollack and over 50 percent of crabs imported by China came from BRICS members.

“For BRICS countries, trade cooperation is not only conducive to promoting technological exchanges and innovation but also to bringing more development opportunities for member countries and even the world,” Hong added.

Regarding the financial sector, the New Development Bank is a flagship project of BRICS cooperation. As the first multilateral development bank established by emerging economies, the Shanghai-headquartered institution provides financing support for infrastructure development, clean energy, environmental protection, and the building of cyber infrastructure across BRICS countries.

Funding a raft of projects ranging from India’s urban rail to Brazil’s wind power complexes, the bank has cumulatively approved loans of 35 billion U.S. dollars for more than 100 projects to date.

Building on its commitment to multilateralism, BRICS has taken practical steps to unlock the potential of economic and trade cooperation and create new growth areas. These include policy coordination and joint initiatives to enhance trade and investment opportunities among member states.

At the 14th BRICS Economic and Foreign Trade Ministers’ Meeting held in Moscow in July, participants agreed to step up exchanges and cooperation in emerging areas such as global value chains, digital technologies and special economic zones, conduct practical cooperation in green product standards, electronic documentation and e-commerce, and strengthen policy exchanges, capacity building and best practice sharing.

By enhancing economic and trade exchanges, BRICS countries have capitalized on their complementary advantages, serving as an important force to oppose trade protectionism and promote global economic growth, noted Liu Ying, a researcher with the Chongyang Institute for Financial Studies, Renmin University of China.

MIL OSI China News –

January 25, 2025
MIL-OSI China: BRICS charts path at milestone summit, Xi offers five suggestions

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

KAZAN, Russia, Oct. 24 — Heels clicked and shoes shuffled across the media center floors at the BRICS Kazan summit on Wednesday, as journalists from around the world rushed to cover the landmark first in-person summit since the group’s expansion.

Amid global uncertainties, BRICS embarked on a new chapter, cementing its growing influence on the world stage. Chinese President Xi Jinping, addressing the leaders in an expanded format, put forward five suggestions: building a BRICS committed to peace, innovation, green development, justice, and closer people-to-people exchanges.

“We must build on this milestone summit to set off anew and forge ahead with one heart and one mind,” Xi said. “China is willing to work with all BRICS countries to open a new horizon in the high-quality development of greater BRICS cooperation.”

This year’s summit also marked another major progress with the decision to invite a number of nations as partner countries, further advancing the group’s development.

The growing interest from countries seeking to join BRICS cooperation each year demonstrates that in today’s troubled world, BRICS is important and essential, said Bunn Nagara, director and senior fellow at Belt and Road Initiative Caucus for Asia-Pacific.

“China, led by President Xi, has contributed significantly to BRICS’ success with a progressive and enlightened approach,” said Nagara.

During Wednesday’s meetings, leaders exchanged views on BRICS cooperation and key international issues under the theme “Strengthening Multilateralism for Just Global Development and Security,” focusing on global and regional security, sustainable development, climate change, and reforms in global economic governance.

A major emphasis of the summit was the call for increased funding to support sustainable development in developing countries. Egyptian President Abdel-Fattah al-Sisi said BRICS is set to “strengthen a multipolar international system,” particularly through “innovative and effective” financing for these countries.

Russian President Vladimir Putin, who chaired the Kazan summit, said that “the trend for the BRICS’ leading role in the global economy will only strengthen.”

He warned against the ongoing risks from geopolitical tensions and the rise of unilateral sanctions and protectionism, emphasizing “a key task is to promote the use of national currencies to finance trade and investment.”

Brazilian President Luiz Inacio Lula da Silva, who participated in the summit via video link due to a head injury, echoed this sentiment. “It’s not about replacing our currencies, but we need to work so that the multipolar order we aim for is reflected in the international financial system,” said Lula.

BRICS has already made strides with the New Development Bank (NDB), headquartered in Shanghai. The BRICS countries agreed on Wednesday to support the NDB in implementing its general strategy for 2022-2026 and in expanding local currency financing.

In a declaration issued at the 16th BRICS Summit, they also agreed to jointly build the NDB into a new type of multilateral development bank for the 21st century, support its further expansion of membership, and expedite the review of membership applications from BRICS countries in accordance with its general strategy and related policies.

The BRICS countries are also encouraged to strengthen financial cooperation and promote local currency settlement, according to the declaration.

During the summit, leaders also emphasized the need for a fairer global order for the Global South. South African President Cyril Ramaphosa said that BRICS is an inclusive formation capable of changing the trajectory of the Global South. “To do this we must realize the full potential of our economic partnership, to ensure sustainable development for all and not just for some,” he said.

“The period of unilateralism is coming to an end,” added Iranian President Masoud Pezeshkian, calling for a more equitable global system.

Several speakers also highlighted the need for differentiated responsibilities in addressing climate change, urging that developing nations’ emissions reduction efforts should align with their capacities.

BRICS, initially known as “BRIC” when it was coined in 2001 by Jim O’Neill, former chief economist at Goldman Sachs, originally represented emerging market economies of Brazil, Russia, India, and China. South Africa joined in 2010, officially forming BRICS.

In a recent interview with Xinhua, O’Neill acknowledged the need for policymakers to collaborate in creating an optimal system that benefits all. “I think as we pass through time, we will find a new equilibrium where countries will be more at ease with what other countries are doing,” he said.

Other than the new full members joining on Jan. 1, 2024, over 30 countries, including Thailand, Malaysia, Türkiye and Azerbaijan, have either formally applied for or expressed interest in BRICS membership. Many other developing countries are seeking deeper cooperation with the group.

Observers view BRICS as a vital platform for developing countries to pursue growth. Ahmed Al-Ali, a political and strategic researcher at the Gulf Research Center in Dubai, noted that BRICS aims to foster a more equitable, effective, and rational international system.

It will play a crucial role in promoting development and growth opportunities for Global South countries while ensuring the sustainability of economic and social progress, said Al-Ali.

Echoing that view, Sithembiso Bhengu, a senior research fellow with the Sociology Department, University of Johannesburg, said, “The BRICS mechanism presents real possibilities for making the globe a fairer community of nations, with possibilities for mutual support and cooperation towards our respective goals in modernization and development.”

MIL OSI China News –

January 25, 2025

MIL-OSI: West Bancorporation, Inc. Announces Third Quarter 2024 Financial Results and Declares Quarterly Dividend

Source: GlobeNewswire (MIL-OSI)

WEST DES MOINES, Iowa, Oct. 24, 2024 (GLOBE NEWSWIRE) — West Bancorporation, Inc. (Nasdaq: WTBA; the “Company”), parent company of West Bank, today reported third quarter 2024 net income of $6.0 million, or $0.35 per diluted common share, compared to second quarter 2024 net income of $5.2 million, or $0.31 per diluted common share, and third quarter 2023 net income of $5.9 million, or $0.35 per diluted common share. On October 23, 2024, the Company’s Board of Directors declared a regular quarterly dividend of $0.25 per common share. The dividend is payable on November 20, 2024, to stockholders of record on November 6, 2024.

David Nelson, President and Chief Executive Officer of the Company, commented, “Our third quarter results include moderate growth in loans and core deposits along with an increase in quarterly net interest income and net interest margin. Our credit quality remains pristine as a result of our disciplined loan growth and credit risk management practices. The ratio of nonperforming assets to total assets remains negligible at 0.01%.”

David Nelson added, “West Bank is focused on initiatives that will drive sustained core profitability. Those initiatives are centered around our culture of building strong relationships and providing exceptional personal service to drive growth in both commercial and consumer banking services.”

Third Quarter 2024 Financial Highlights

	Quarter Ended September 30, 2024		Nine Months Ended September 30, 2024
Net income (in thousands)	$5,952		$16,953
Return on average equity		10.41%		10.18%
Return on average assets		0.60%		0.59%
Efficiency ratio (a non-GAAP measure)		63.28%		64.16%
Nonperforming assets to total assets		0.01%		0.01%

Third Quarter 2024 Compared to Second Quarter 2024 Overview

Loans increased $22.4 million in the third quarter of 2024, or 3.0 percent annualized. The increase is primarily due to the funding of previously committed construction loans.
A provision for credit losses on loans of $1.0 million was recorded in the third quarter of 2024, compared to no provision in the second quarter of 2024. A negative provision for credit losses on unfunded commitments of $1.0 million was recorded in the third quarter of 2024, compared to no provision in the second quarter of 2024. The provision for loans in the third quarter of 2024 was primarily due to changes in the forecasted loss rates due to increases in forecasted unemployment rates. The negative provision for unfunded commitments was primarily due to the decline in unfunded commitments resulting primarily from the funding of construction loans.
The allowance for credit losses to total loans was 0.97 percent and 0.95 percent at September 30, 2024 and June 30, 2024, respectively. Nonaccrual loans at September 30, 2024 consisted of two loans with a total balance of $233 thousand, compared to three loans with a balance of $521 thousand at June 30, 2024.
Deposits increased $97.6 million, or 3.1 percent, in the third quarter of 2024. Brokered deposits totaled $425.9 million at September 30, 2024, compared to $370.3 million at June 30, 2024, an increase of $55.6 million. Excluding brokered deposits, deposits increased $42.0 million during the third quarter of 2024. As of September 30, 2024, estimated uninsured deposits, which exclude deposits in the IntraFi^® reciprocal network, brokered deposits and public funds protected by state programs, accounted for approximately 27.8 percent of total deposits.
Borrowed funds decreased to $438.8 million at September 30, 2024, compared to $525.5 million at June 30, 2024. The decrease was primarily due to the balance of federal funds purchased and other short-term borrowings decreasing to $0 as of September 30, 2024, from $85.5 million as of June 30, 2024 as a result of growth in deposits.
The efficiency ratio (a non-GAAP measure) was 63.28 percent for the third quarter of 2024, compared to 67.14 percent for the second quarter of 2024. The improvement in the efficiency ratio was primarily due to the increase in net interest income. In the third quarter of 2024, the increase in interest income on loans outpaced the increase in interest expense on deposits and borrowed funds.
Net interest margin, on a fully tax-equivalent basis (a non-GAAP measure), was 1.91 percent for the third quarter of 2024, compared to 1.86 percent for the second quarter of 2024. Net interest income for the third quarter of 2024 was $18.0 million, compared to $17.2 million for the second quarter of 2024.
The tangible common equity ratio was 5.90 percent as of September 30, 2024, compared to 5.65 percent as of June 30, 2024. The increase in the tangible common equity ratio was driven by retained net income and the decrease in accumulated other comprehensive loss, which was primarily the result of the increase in the market value of our available for sale investment portfolio.

Third Quarter 2024 Compared to Third Quarter 2023 Overview

Loans increased $171.4 million at September 30, 2024, or 6.0 percent, compared to September 30, 2023. The increase is primarily due to increases in commercial real estate loans and the funding of previously committed construction loans.
Deposits increased to $3.3 billion at September 30, 2024, compared to $2.8 billion at September 30, 2023. Included in deposits were brokered deposits totaling $425.9 million at September 30, 2024, compared to $237.0 million at September 30, 2023. Brokered deposits were used to reduce short-term borrowed funds and to fund loan growth. Excluding brokered deposits, deposits increased $334.2 million, or 13.3 percent, as of September 30, 2024, compared to September 30, 2023. Deposit growth included a mix of public funds and commercial and consumer deposits.
Borrowed funds decreased to $438.8 million at September 30, 2024, compared to $705.1 million at September 30, 2023. The decrease was primarily attributable to a decrease of $261.5 million in federal funds purchased and other short-term borrowings as a result of growth in deposits.
The efficiency ratio (a non-GAAP measure) was 63.28 percent for the third quarter of 2024, compared to 60.83 percent for the third quarter of 2023. The increase in the efficiency ratio in the third quarter of 2024 compared to the third quarter of 2023 was primarily due to the increase in noninterest expense, partially offset by an increase in net interest income. Occupancy and equipment expense increased primarily due to the occupancy costs associated with the Company’s newly constructed headquarters.
Net interest margin, on a fully tax-equivalent basis (a non-GAAP measure), was 1.91 percent for both the third quarter of 2024 and the third quarter of 2023. Net interest income for the third quarter of 2024 was $18.0 million, compared to $16.6 million for the third quarter of 2023.

The Company filed its report on Form 10-Q with the Securities and Exchange Commission today. Please refer to that document for a more in-depth discussion of the Company’s financial results. The Form 10-Q is available on the Investor Relations section of West Bank’s website at www.westbankstrong.com.

The Company will discuss its results in a conference call scheduled for 2:00 p.m. Central Time on Thursday, October 24, 2024. The telephone number for the conference call is 800-715-9871. The conference ID for the conference call is 7846129. A recording of the call will be available until November 7, 2024, by dialing 800-770-2030. The conference ID for the replay call is 7846129, followed by the # key.

About West Bancorporation, Inc. (Nasdaq: WTBA)

West Bancorporation, Inc. is headquartered in West Des Moines, Iowa. Serving customers since 1893, West Bank, a wholly-owned subsidiary of West Bancorporation, Inc., is a community bank that focuses on lending, deposit services, and trust services for small- to medium-sized businesses and consumers. West Bank has six offices in the Des Moines, Iowa metropolitan area, one office in Coralville, Iowa, and four offices in Minnesota in the cities of Rochester, Owatonna, Mankato and St. Cloud.

Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to the Company’s business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may appear throughout this report. These forward-looking statements are generally identified by the words “believes,” “expects,” “intends,” “anticipates,” “projects,” “future,” “confident,” “may,” “should,” “will,” “strategy,” “plan,” “opportunity,” “will be,” “will likely result,” “will continue” or similar references, or references to estimates, predictions or future events. Such forward-looking statements are based upon certain underlying assumptions, risks and uncertainties. Because of the possibility that the underlying assumptions are incorrect or do not materialize as expected in the future, actual results could differ materially from these forward-looking statements. Risks and uncertainties that may affect future results include: interest rate risk, including the effects of changes in interest rates; fluctuations in the values of the securities held in our investment portfolio, including as a result of changes in interest rates; competitive pressures, including from non-bank competitors such as credit unions, “fintech” companies and digital asset service providers; pricing pressures on loans and deposits; our ability to successfully manage liquidity risk; changes in credit and other risks posed by the Company’s loan portfolio, including declines in commercial or residential real estate values or changes in the allowance for credit losses dictated by new market conditions, accounting standards or regulatory requirements; the concentration of large deposits from certain clients, including those who have balances above current FDIC insurance limits; changes in local, national and international economic conditions, including the level and impact of inflation and possible recession; the effects of recent developments and events in the financial services industry, including the large-scale deposit withdrawals over a short period of time that resulted in recent bank failures; changes in legal and regulatory requirements, limitations and costs including in response to the recent bank failures; changes in customers’ acceptance of the Company’s products and services; the occurrence of fraudulent activity, breaches or failures of our or our third-party partners’ information security controls or cyber-security related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools; unexpected outcomes of existing or new litigation involving the Company; the monetary, trade and other regulatory policies of the U.S. government; acts of war or terrorism, including the ongoing Israeli-Palestinian conflict and the Russian invasion of Ukraine, widespread disease or pandemics, or other adverse external events; risks related to climate change and the negative impact it may have on our customers and their businesses; changes to U.S. tax laws, regulations and guidance; potential changes in federal policy and at regulatory agencies as a result of the upcoming 2024 presidential election; talent and labor shortages; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update such forward-looking statements to reflect current or future events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

For more information contact:
Jane Funk, Executive Vice President, Treasurer and Chief Financial Officer (515) 222-5766


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	As of
CONDENSED BALANCE SHEETS	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Assets
Cash and due from banks	$	34,157		$	27,994		$	27,071		$	33,245		$	18,819
Interest-bearing deposits		123,646			121,825			120,946			32,112			1,802
Securities available for sale, at fair value		597,745			588,452			605,735			623,919			609,365
Federal Home Loan Bank stock, at cost		17,195			21,065			26,181			22,957			26,691
Loans		3,021,221			2,998,774			2,980,133			2,927,535			2,849,777
Allowance for credit losses		(29,419	)		(28,422	)		(28,373	)		(28,342	)		(28,147	)
Loans, net		2,991,802			2,970,352			2,951,760			2,899,193			2,821,630
Premises and equipment, net		106,771			101,965			95,880			86,399			75,675
Bank-owned life insurance		44,703			44,416			44,138			43,864			43,589
Other assets		72,547			89,046			90,981			84,069			104,329
Total assets	$	3,988,566		$	3,965,115		$	3,962,692		$	3,825,758		$	3,701,900

Liabilities and Stockholders’ Equity
Deposits	$	3,278,553		$	3,180,922		$	3,065,030		$	2,973,779		$	2,755,529
Federal funds purchased and other short-term borrowings		—			85,500			198,500			150,270			261,510
Other borrowings		438,814			439,998			441,183			442,367			443,552
Other liabilities		35,846			34,812			34,223			34,299			37,376
Stockholders’ equity		235,353			223,883			223,756			225,043			203,933
Total liabilities and stockholders’ equity	$	3,988,566		$	3,965,115		$	3,962,692		$	3,825,758		$	3,701,900

	For the Quarter Ended
AVERAGE BALANCES	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Assets	$	3,973,824		$	3,964,109		$	3,812,199		$	3,706,497		$	3,679,541
Loans		2,991,272			2,994,492			2,949,672			2,857,594			2,813,213
Deposits		3,258,669			3,123,282			2,956,635			2,878,676			2,764,184
Stockholders’ equity		227,513			219,771			219,835			201,920			215,230


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	As of
LOANS	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Commercial	$	512,884		$	526,589		$	544,293		$	531,594		$	529,293
Real estate:
Construction, land and land development		520,516			496,864			465,247			413,477			399,253
1-4 family residential first mortgages		89,749			92,230			108,065			106,688			89,713
Home equity		17,140			15,264			14,020			14,618			12,429
Commercial		1,870,132			1,856,301			1,839,580			1,854,510			1,812,816
Consumer and other		14,261			15,234			12,844			10,930			10,123
		3,024,682			3,002,482			2,984,049			2,931,817			2,853,627
Net unamortized fees and costs		(3,461	)		(3,708	)		(3,916	)		(4,282	)		(3,850	)
Total loans	$	3,021,221		$	2,998,774		$	2,980,133		$	2,927,535		$	2,849,777
Less: allowance for credit losses		(29,419	)		(28,422	)		(28,373	)		(28,342	)		(28,147	)
Net loans	$	2,991,802		$	2,970,352		$	2,951,760		$	2,899,193		$	2,821,630

CREDIT QUALITY
Pass	$	3,016,493		$	2,994,310		$	2,983,618		$	2,931,377		$	2,853,100
Watch		7,956			7,651			142			144			184
Substandard		233			521			289			296			343
Doubtful		—			—			—			—			—
Total loans	$	3,024,682		$	3,002,482		$	2,984,049		$	2,931,817		$	2,853,627

DEPOSITS
Noninterest-bearing demand	$	525,332		$	530,441		$	521,377		$	548,726		$	551,688
Interest-bearing demand		438,402			443,658			449,946			481,207			417,802
Savings and money market – non-brokered		1,481,840			1,483,264			1,315,698			1,315,741			1,249,309
Money market – brokered		123,780			97,259			119,840			124,335			99,282
Total nonmaturity deposits		2,569,354			2,554,622			2,406,861			2,470,009			2,318,081
Time – non-brokered		407,109			353,269			381,646			322,694			299,683
Time – brokered		302,090			273,031			276,523			181,076			137,765
Total time deposits		709,199			626,300			658,169			503,770			437,448
Total deposits	$	3,278,553		$	3,180,922		$	3,065,030		$	2,973,779		$	2,755,529

BORROWINGS
Federal funds purchased and other short-term borrowings	$	—		$	85,500		$	198,500		$	150,270		$	261,510
Subordinated notes, net		79,828			79,762			79,697			79,631			79,566
Federal Home Loan Bank advances		315,000			315,000			315,000			315,000			315,000
Long-term debt		43,986			45,236			46,486			47,736			48,986
Total borrowings	$	438,814		$	525,498		$	639,683		$	592,637		$	705,062

STOCKHOLDERS’ EQUITY
Preferred stock	$	—		$	—		$	—		$	—		$	—
Common stock		3,000			3,000			3,000			3,000			3,000
Additional paid-in capital		34,960			34,322			33,685			34,197			33,487
Retained earnings		275,724			273,981			272,997			271,369			271,025
Accumulated other comprehensive loss		(78,331	)		(87,420	)		(85,926	)		(83,523	)		(103,579	)
Total stockholders’ equity	$	235,353		$	223,883		$	223,756		$	225,043		$	203,933


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	For the Quarter Ended
CONSOLIDATED STATEMENTS OF INCOME	September 30, 2024		June 30, 2024		March 31, 2024		December 31, 2023			September 30, 2023
Interest income:
Loans, including fees	$	42,504	$	41,700	$	40,196	$	38,208		$	36,756
Securities:
Taxable		3,261		3,394		3,416		3,521			3,427
Tax-exempt		806		808		810		869			880
Interest-bearing deposits		2,041		1,666		148		85			29
Total interest income		48,612		47,568		44,570		42,683			41,092
Interest expense:
Deposits		26,076		23,943		21,559		20,024			17,156
Federal funds purchased and other short-term borrowings		115		1,950		2,183		2,024			3,165
Subordinated notes		1,112		1,105		1,108		1,114			1,113
Federal Home Loan Bank advances		2,748		2,718		2,325		2,482			2,329
Long-term debt		601		622		645		678			695
Total interest expense		30,652		30,338		27,820		26,322			24,458
Net interest income		17,960		17,230		16,750		16,361			16,634
Credit loss expense		—		—		—		500			200
Net interest income after credit loss expense		17,960		17,230		16,750		15,861			16,434
Noninterest income:
Service charges on deposit accounts		459		462		460		476			463
Debit card usage fees		500		490		458		488			495
Trust services		828		794		776		782			831
Increase in cash value of bank-owned life insurance		287		278		274		275			262
Loan swap fees		—		—		—		—			431
Realized securities losses, net		—		—		—		(431	)		—
Other income		285		322		331		308			340
Total noninterest income		2,359		2,346		2,299		1,898			2,822
Noninterest expense:
Salaries and employee benefits		6,823		7,169		6,489		6,468			6,696
Occupancy and equipment		1,926		1,852		1,447		1,499			1,359
Data processing		771		754		714		723			703
Technology and software		722		731		700		676			573
FDIC insurance		711		631		519		475			439
Professional fees		239		244		257		235			254
Director fees		223		236		199		240			196
Other expenses		1,477		1,577		1,543		1,845			1,685
Total noninterest expense		12,892		13,194		11,868		12,161			11,905
Income before income taxes		7,427		6,382		7,181		5,598			7,351
Income taxes		1,475		1,190		1,372		1,073			1,445
Net income	$	5,952	$	5,192	$	5,809	$	4,525		$	5,906

Basic earnings per common share	$	0.35	$	0.31	$	0.35	$	0.27		$	0.35
Diluted earnings per common share	$	0.35	$	0.31	$	0.35	$	0.27		$	0.35


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	For the Nine Months Ended
CONSOLIDATED STATEMENTS OF INCOME	September 30, 2024		September 30, 2023
Interest income:
Loans, including fees	$	124,400	$	104,715
Securities:
Taxable		10,071		10,175
Tax-exempt		2,424		2,648
Interest-bearing deposits		3,855		84
Total interest income		140,750		117,622
Interest expense:
Deposits		71,578		46,772
Federal funds purchased and other short-term borrowings		4,248		7,508
Subordinated notes		3,325		3,328
Federal Home Loan Bank advances		7,791		5,212
Long-term debt		1,868		2,132
Total interest expense		88,810		64,952
Net interest income		51,940		52,670
Credit loss expense		—		200
Net interest income after credit loss expense		51,940		52,470
Noninterest income:
Service charges on deposit accounts		1,381		1,383
Debit card usage fees		1,448		1,492
Trust services		2,398		2,286
Increase in cash value of bank-owned life insurance		839		769
Loan swap fees		—		431
Gain from bank-owned life insurance		—		691
Other income		938		1,116
Total noninterest income		7,004		8,168
Noninterest expense:
Salaries and employee benefits		20,481		20,592
Occupancy and equipment		5,225		4,008
Data processing		2,239		2,067
Technology and software		2,153		1,665
FDIC insurance		1,861		1,275
Professional fees		740		791
Director fees		658		652
Other expenses		4,597		5,400
Total noninterest expense		37,954		36,450
Income before income taxes		20,990		24,188
Income taxes		4,037		4,576
Net income	$	16,953	$	19,612

Basic earnings per common share	$	1.01	$	1.17
Diluted earnings per common share	$	1.00	$	1.17


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)

	As of and for the Quarter Ended															For the Nine Months Ended
COMMON SHARE DATA	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			September 30, 2024			September 30, 2023
Earnings per common share (basic)	$	0.35		$	0.31		$	0.35		$	0.27		$	0.35		$	1.01		$	1.17
Earnings per common share (diluted)		0.35			0.31			0.35			0.27			0.35			1.00			1.17
Dividends per common share		0.25			0.25			0.25			0.25			0.25			0.75			0.75
Book value per common share⁽¹⁾		13.98			13.30			13.31			13.46			12.19
Closing stock price		19.01			17.90			17.83			21.20			16.31
Market price/book value⁽²⁾		135.98	%		134.59	%		133.96	%		157.50	%		133.80	%
Price earnings ratio⁽³⁾		13.65			14.36			12.77			19.79			11.75
Annualized dividend yield⁽⁴⁾		5.26	%		5.59	%		5.61	%		4.72	%		6.13	%

REGULATORY CAPITAL RATIOS
Consolidated:
Total risk-based capital ratio		11.95	%		11.85	%		11.78	%		11.88	%		11.96	%
Tier 1 risk-based capital ratio		9.39			9.30			9.23			9.30			9.37
Tier 1 leverage capital ratio		8.15			8.08			8.36			8.50			8.58
Common equity tier 1 ratio		8.83			8.74			8.67			8.74			8.80
West Bank:
Total risk-based capital ratio		12.73	%		12.66	%		12.63	%		12.76	%		12.89	%
Tier 1 risk-based capital ratio		11.86			11.79			11.76			11.89			12.01
Tier 1 leverage capital ratio		10.29			10.25			10.65			10.86			11.00
Common equity tier 1 ratio		11.86			11.79			11.76			11.89			12.01

KEY PERFORMANCE RATIOS AND OTHER METRICS
Return on average assets⁽⁵⁾		0.60	%		0.53	%		0.61	%		0.48	%		0.64	%		0.59	%		0.72	%
Return on average equity⁽⁶⁾		10.41			9.50			10.63			8.89			10.89			10.18			12.22
Net interest margin^(7)(13)		1.91			1.86			1.88			1.87			1.91			1.88			2.05
Yield on interest-earning assets^(8)(13)		5.16			5.13			4.99			4.87			4.70			5.10			4.56
Cost of interest-bearing liabilities		3.84			3.83			3.70			3.60			3.38			3.79			3.09
Efficiency ratio^(9)(13)		63.28			67.14			62.04			64.66			60.83			64.16			59.52
Nonperforming assets to total assets⁽¹⁰⁾		0.01			0.01			0.01			0.01			0.01
ACL ratio⁽¹¹⁾		0.97			0.95			0.95			0.97			0.99
Loans/total assets		75.75			75.63			75.20			76.52			76.98
Loans/total deposits		92.15			94.27			97.23			98.44			103.42
Tangible common equity ratio⁽¹²⁾		5.90			5.65			5.65			5.88			5.51

(1)	Includes accumulated other comprehensive loss.
(2)	Closing stock price divided by book value per common share.
(3)	Closing stock price divided by annualized earnings per common share (basic).
(4)	Annualized dividend divided by period end closing stock price.
(5)	Annualized net income divided by average assets.
(6)	Annualized net income divided by average stockholders’ equity.
(7)	Annualized tax-equivalent net interest income divided by average interest-earning assets.
(8)	Annualized tax-equivalent interest income on interest-earning assets divided by average interest-earning assets.
(9)	Noninterest expense (excluding other real estate owned expense and write-down of premises) divided by noninterest income (excluding net securities gains/losses and gains/losses on disposition of premises and equipment) plus tax-equivalent net interest income.
(10)	Total nonperforming assets divided by total assets.
(11)	Allowance for credit losses on loans divided by total loans.
(12)	Common equity less intangible assets (none held) divided by tangible assets.
(13)	A non-GAAP measure.

NON-GAAP FINANCIAL MEASURES

This report contains references to financial measures that are not defined in GAAP. Such non-GAAP financial measures include the Company’s presentation of net interest income and net interest margin on a fully taxable equivalent (FTE) basis and the presentation of the efficiency ratio on an adjusted and FTE basis, excluding certain income and expenses. Management believes these non-GAAP financial measures provide useful information to both management and investors to analyze and evaluate the Company’s financial performance. These measures are considered standard measures of comparison within the banking industry. Additionally, management believes providing measures on a FTE basis enhances the comparability of income arising from taxable and nontaxable sources. Limitations associated with non-GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that different companies might calculate these measures differently. These non-GAAP disclosures should not be considered an alternative to the Company’s GAAP results. The following table reconciles the non-GAAP financial measures of net interest income and net interest margin on a fully taxable equivalent basis and efficiency ratio on an adjusted and FTE basis.


(in thousands)	For the Quarter Ended															For the Nine Months Ended
	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			September 30, 2024			September 30, 2023
Reconciliation of net interest income and net interest margin on a FTE basis to GAAP:
Net interest income (GAAP)	$	17,960		$	17,230		$	16,750		$	16,361		$	16,634		$	51,940		$	52,670
Tax-equivalent adjustment ⁽¹⁾		29			55			82			95			113			166			396
Net interest income on a FTE basis (non-GAAP)		17,989			17,285			16,832			16,456			16,747			52,106			53,066
Average interest-earning assets		3,749,688			3,731,674			3,595,954			3,487,799			3,478,053			3,692,647			3,458,606
Net interest margin on a FTE basis (non-GAAP)		1.91	%		1.86	%		1.88	%		1.87	%		1.91	%		1.88	%		2.05	%

Reconciliation of efficiency ratio on an adjusted and FTE basis to GAAP:
Net interest income on a FTE basis (non-GAAP)	$	17,989		$	17,285		$	16,832		$	16,456		$	16,747		$	52,106		$	53,066
Noninterest income		2,359			2,346			2,299			1,898			2,822			7,004			8,168
Adjustment for realized securities losses, net		—			—			—			431			—			—			—
Adjustment for losses on disposal of premises and equipment, net		26			21			—			24			3			47			5
Adjusted income		20,374			19,652			19,131			18,809			19,572			59,157			61,239
Noninterest expense		12,892			13,194			11,868			12,161			11,905			37,954			36,450
Efficiency ratio on an adjusted and FTE basis (non-GAAP) ⁽²⁾		63.28	%		67.14	%		62.04	%		64.66	%		60.83	%		64.16	%		59.52	%

(1)

Computed on a tax-equivalent basis using a federal income tax rate of 21 percent, adjusted to reflect the effect of the nondeductible interest expense associated with owning tax-exempt securities and loans. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the financial results, as it enhances the comparability of income arising from taxable and nontaxable sources.

(2)

The efficiency ratio expresses noninterest expense as a percent of fully taxable equivalent net interest income and noninterest income, excluding specific noninterest income and expenses. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the Company’s financial performance. It is a standard measure of comparison within the banking industry. A lower ratio is more desirable.

The MIL Network –

January 25, 2025

MIL-OSI Russia: We suggest you write the All-Russian sociological dictation

Translation. Region: Russian Federation –

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

On November 14, 2024, the All-Russian Public Opinion Research Center will hold the All-Russian educational campaign “Sociological Dictation” for the fifth time. We invite students and employees of the State University of Management to take part in this event.

Every year, thousands of people of different ages from all regions of Russia write the sociological dictation. Last year, more than 120 thousand people took part in the event.

The dictation consists of 25 questions of varying difficulty, it takes no more than 30 minutes to complete, and upon completion of the dictation, each participant is given a personalized certificate with the number of points scored. Participants who score 80 out of 100 possible points will receive a certificate with distinction.

You can write the dictation online on its official website on November 14 from 00:00 to 23:59 Moscow time.

Or in person at the State University of Management, in room PA-215. Starts at 14:00.

Subscribe to the tg channel “Our State University” Announcement date: 10/24/2024

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.

MIL OSI Russia News –

January 25, 2025
MIL-OSI: Marex Group plc Announces Pricing of the Public Offering
Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) — Marex Group plc (“Marex”) (Nasdaq: MRX), the diversified global financial services platform, today announces the pricing of the public offering (the “Offering”) of 8,472,333 ordinary shares by certain selling shareholders (the “Selling Shareholders”) at $24.00 per share. In connection with the Offering, the Selling Shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,270,849 ordinary shares.

Marex is not selling any ordinary shares in the Offering and will not receive any proceeds from any sale of shares by the Selling Shareholders. The Offering is expected to close on October 25, 2024, subject to customary closing conditions.

Barclays, Goldman Sachs & Co. LLC, Jefferies and Keefe, Bruyette & Woods, a Stifel Company, are acting as joint lead book-running managers and as representatives of the underwriters for the proposed Offering. Citigroup, UBS Investment Bank, Piper Sandler & Co. and Berenberg are acting as bookrunners for the Offering. Drexel Hamilton and Loop Capital Markets are acting as co-managers for the Offering.

The proposed Offering is being made only by means of a prospectus. Copies of the prospectus relating to the proposed Offering may be obtained from:
- Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847, or by email at barclaysprospectus@broadridge.com;
- Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com;
- Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by phone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or
- Keefe, Bruyette & Woods Inc., 787 Seventh Avenue, Fourth Floor, New York, NY 10019, attention: Equity Capital Markets, or by calling toll free at (800) 966-1559 or emailing USCapitalMarkets@kbw.com.
A registration statement on Form F-1 relating to the Offering has been filed with, and was declared effective by, the U.S. Securities and Exchange Commission (the “SEC”).This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including the expected closing date of the Offering. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation: subdued commodity market activity or pricing levels; the effects of geopolitical events, terrorism and wars, such as the effect of Russia’s military action in Ukraine, on market volatility, global macroeconomic conditions and commodity prices; changes in interest rate levels; the risk of our clients and their related financial institutions defaulting on their obligations to us; regulatory, reputational and financial risks as a result of our international operations; software or systems failure, loss or disruption of data or data security failures; an inability to adequately hedge our positions and limitations on our ability to modify contracts and the contractual protections that may be available to us in OTC derivatives transactions; market volatility, reputational risk and regulatory uncertainty related to commodity markets, equities, fixed income, foreign exchange and cryptocurrency; the impact of climate change and the transition to a lower carbon economy on supply chains and the size of the market for certain of our energy products; the impact of changes in judgments, estimates and assumptions made by management in the application of our accounting policies on our reported financial condition and results of operations; lack of sufficient financial liquidity; if we fail to comply with applicable law and regulation, we may be subject to enforcement or other action, forced to cease providing certain services or obliged to change the scope or nature of our operations; significant costs, including adverse impacts on our business, financial condition and results of operations, and expenses associated with compliance with relevant regulations; and if we fail to remediate the material weaknesses we identified in our internal control over financial reporting or prevent material weaknesses in the future, the accuracy and timing of our financial statements may be impacted, which could result in material misstatements in our financial statements or failure to meet our reporting obligations and subject us to potential delisting, regulatory investments or civil or criminal sanctions, and other risks discussed under the caption “Risk Factors” in our Registration Statement filed on Form F-1 with the SEC on October 21, 2024 and our other reports filed with the SEC.

The forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

The MIL Network –
January 25, 2025
MIL-OSI USA News: Background Press Call on the U.S. Approach to Harnessing the Power of AI for U.S. National Security

Source: The White House

Via Teleconference

MODERATOR: Good afternoon, everyone. Thanks so much for joining today’s call to discuss the U.S. approach to harnessing the power of AI for U.S. national security, ahead of tomorrow’s release of the National Security Memorandum.

As a reminder of the ground rules of this call, this call is on background, attributable to senior administration officials, and it is embargoed until 6:00 a.m. Eastern on Thursday, October 24.

For your awareness, not for your reporting, on the call today we have [senior administration official] and [senior administration official].

Following the call, we’ll provide you all with some materials under the same embargo, so be on the lookout for those.

Our speakers are going to have a few words at the top, and then we’ll turn it over to some of your questions.

With that, [senior administration official], I’ll turn it over to you.

SENIOR ADMINISTRATION OFFICIAL: Thanks, Eduardo. And thanks to all of you for joining us this evening.

So, we’re really pleased to report that tomorrow we’ll be releasing a National Security Memorandum on Artificial Intelligence signed by the President.

And we want to start off just by sharing a little bit of context for this, which really begins with the fact that the United States has a very strong hand in AI today. We design the most advanced hardware. We host the leading AI companies that are building the most advanced AI systems, and really have a dominant market share in artificial intelligence globally. And thanks to the President’s CHIPS Act, we are building more resilience in our chip supply chains as well.

But as many of you know, the innovation that’s happened, particularly in this current wave of frontier artificial intelligence, has really been driven by the private sector. And it’s critical that we continue to both foster that leadership but ensure that the government, and particularly with this National Security Memorandum, ensure that our national security agencies are adopting these technologies in ways that align with our values.

And a failure to do this, a failure to take advantage of this leadership and adopt this technology we worry could put us at risk of a strategic surprise by our rivals, such as China.

And as you all know, there are very clear national security applications of artificial intelligence, including in areas like cybersecurity and counter-intelligence, not to mention the broad array of logistics and other activities that support military operations.

Because countries like China recognize similar opportunities to modernize and revolutionize their own military and intelligence capabilities using artificial intelligence, it’s particularly imperative that we accelerate our national security community’s adoption and use of cutting-edge AI capabilities to maintain our competitive edge.

So, President Biden’s first-ever executive order, signed last October, on artificial intelligence was a key step forward to ensure that America leads the way in seizing the promise and managing the risks of AI.

In that executive order, the President specifically directed the development of this National Security Memorandum to ensure that we maintain our edge over rivals seeking to leverage AI to the detriment of our national security, while also building effective safeguards to ensure that our use of AI upholds our values and preserves public trust.

So, consistent with the President’s direction, we’ve been engaged in a policy process over the last year or so to advance those aims and complete this National Security Memorandum.

And tomorrow, the National Security Advisor, Jake Sullivan, will deliver remarks to rising military and intelligence professionals at the National Defense University so he can speak directly to the very national security professionals and leaders who are going to be implementing the core of this strategy.

During his remarks, Jake will talk about what led us to this moment in artificial intelligence, both in terms of its development and our views on why it is so critical for national intelligence and why, therefore, the President has issued this National Security Memorandum on AI.

Jake will also outline how the United States must strengthen our own advantages in artificial intelligence, how to harness that advantage in a responsible manner for national security, and also how the United States can do this work in lockstep with our partners around the world in ways that will protect our national security while also leveraging our advantages in AI for the benefit of countries around the world.

So, we hope you’ll join us for those remarks as well.

With that, I’ll turn it over to my colleague to provide more detail about the NSM itself.

SENIOR ADMINISTRATION OFFICIAL: Great. Thanks. And thanks, everybody, for joining.

As many of you know, the administration’s approach to AI is rooted in the premise that capabilities generated by the transformer and large language model revolution in AI, often called frontier AI, are poised to shape geopolitical, military, and intelligence competition.

Now, most of the NSM is unclassified and will be released publicly. It also contains a classified annex that primarily addresses adversary threats.

Now, the principles guiding our work in the NSM are simple. They are that the U.S. should first lead the world’s development of safe, secure, and trustworthy AI, and establishing a stable and responsible framework to advance international AI governance. And as a result, the NSM serves as a formal charter for the AI Safety Institute in the Department of Commerce, which we have created to be the primary port of call for U.S. AI developers. They have already issued guidance on safe, secure, and trustworthy AI development and have secured voluntary agreements with companies to test new AI systems before they are released to the public.

Second, another principle is that the U.S. should harness the most advanced AI systems with appropriate safeguards to achieve national security objectives. And we are directing that the agencies gain access to the most powerful AI systems and put them to use, which often involves substantial efforts on procurement.

And finally, all of this must be done in accordance with our values.

So, alongside the National Security Memorandum itself, we are publishing a companion document called the Framework for AI Governance and Risk Management for National Security that provides guidance on how agencies can and cannot use AI.

So, we also believe that we must out-compete our adversaries and mitigate the threats posed by adversary use of AI.

So, in summary, what I’ve outlined are essentially three core principles that you’ll see throughout the documents: securing the U.S.’s lead on AI; two, harnessing AI for national security; and, crucially, building in the governance framework to ensure that we are actually accelerating adoption in a smart way, in a responsible way, by having clear rules of the road.

With that, I’ll turn it over to Eduardo.

MODERATOR: Thank you both. We’ll now turn to our Q&A portion. If you’d like to ask a question, please use the “raise your hand” feature on Zoom.

First up, we’ll go to the line of Katrina Manson. You should be able to unmute yourself.

Q    Hi there. Thanks so much. I would love to ask how you see the U.N. intention to have countries sign up to a ban on lethal autonomous weapons by 2026 and if any of your work foresees the U.S. signing up to that.

Many of the harms that you try to prevent on the civil use of AI, obviously in terms of bodily harms, are very much implied with the use of AI for the military. And in the case of Maven, AI targeting is already being used to support battlefield firing in the Middle East by the U.S. Can you address the very serious safety concerns around the use of AI targeting and whether you will consider a ban on lethal autonomous weapons, which can use AI?

SENIOR ADMINISTRATION OFFICIAL: Thanks for that question. I’m happy to start with that.

So, first point is, as I think [senior administration official] noted, we’ll be releasing tomorrow, alongside the National Security Memorandum, a framework on responsible use of artificial intelligence in a national security context. And so, you’ll see there really a lot of detail on kind of all the steps that we’re taking to ensure these systems are used responsibly.

Now, and the other thing I would point out is: While it’s not necessarily part of this NSM, although there’s a nod to kind of our diplomatic efforts and kind of direction to double down on those, some of you may be aware of the Political Declaration on Responsible Military Use of Artificial Intelligence and Autonomy. And that’s a declaration where the Vice President, in fact, has kind of taken a leadership role. And we have around 60 countries that have signed up to this declaration, which is really focused squarely on how AI and autonomy should be used. And most recently, there was a summit held on this by South Korea.

So that’s another area where that combines both the substance that you’ll see in the framework on responsible use, but also, really, diplomatic efforts that we’ve been leading over the last few years.

SENIOR ADMINISTRATION OFFICIAL: And, sorry, if I can add to what was just mentioned. The framework itself you’ll see actually references the political declaration that was just mentioned, and it also outlines the requirement for adherence to the Department of Defense’s Directive 3000.09 and successor related policies that address autonomous or semiautonomous weapons systems.

But in addition to that, as was just mentioned, there are a number of outlined prohibited use cases, as well as high-impact use cases that are relevant. And one theme you’ll see in both the NSM and the framework document is the fact that we need to ensure that AI is used in a manner consistent with the President’s authority as Commander-in-Chief to decide when to order military operations in the nation’s defense, for instance.

MODERATOR: Thank you. Next up, we’ll go to the line of Garrett (inaudible). You should be able to mute yourself.

Q    Hello. Can you all hear me?

MODERATOR: We can, yes.

Q    Great. You mentioned that some of the commitments from companies are voluntary. And, you know, just covering the big fight around legislation here in California, companies seem, from my perspective at least, to very much want to keep those commitments to safety and that kind of thing voluntary, rather than sort of required or legislated.

And I’m just wondering if, you know, the administration has a view, or if it’s published as part of this, about trying to sort of codify those voluntary commitments and make them more, you know, ironclad and not sort of up to the whims of these CEOs.

SENIOR ADMINISTRATION OFFICIAL: Thanks, Garrett. So, I think on that point, I would just say we continue to work with colleagues on the Hill. There are a number of proposals relating to, you know, regulations on artificial intelligence. And so, that’s really — that’s, really, ongoing.

I think, really, the emphasis in the National Security Memorandum is really kind of making commitments ourselves as a government about how we will adopt and use artificial intelligence. You know, as you point out, we have played a leadership role in getting some of those commitments from the companies. We have taken those commitments and kind of — to the international stage, through the G7 and the Hiroshima process as well.

But, really, what we’re focused on tomorrow is what commitments can the government itself make on responsible use, which we think is important, by the way, not just for its own sake, but we also think that’s important to enable us to both accelerate both the development and also accelerate the adoption of use as well. And that’s a point that I think you’ll hear the National Security Advisor focus on as well tomorrow.

MODERATOR: Thank you. And next up, we’ll go to the line of Patrick Tucker. You should be able to unmute yourself.

Q    Hi. Thanks. Pat Tucker from Defense One.

There’s a new paper out, actually this week, from Meredith Whittaker and a couple other folks at the AI Now Institute, actually pointing out some of the potential dangers of some of these commercially facing AI products in national security contexts.

And they point out that some of these generative AI tools have very large — unacceptably large false positive rates. They hallucinate, often, a lot. And sometimes to train them, they rely on publicly available data, including data that might come from data brokers and other sources that poses a potential privacy risk, particularly to Americans, because Americans produce a lot more purchasable data than do citizens in China or Russia.

So can you talk a little bit about how this memorandum does or does not address data vulnerability of Americans and some of the potential risks in the national security setting of adopting commercial and consumer-facing AI tools that have high hallucination rates or false positive rates? Thank you.

SENIOR ADMINISTRATION OFFICIAL: Do you want to start with that? You can join as well.

So, thanks for the question. Look, I think some of these, you know, concerns I think are ones that I think colleagues in the national security community are acutely aware of. You know, there are a few points here.

One is, you know, we have to go through a process of accrediting systems. And that’s not just for AI systems, but you know, national security systems generally. And so, that’s point one, to kind of ensure that they are fit for the purpose or particular mission.

I think the second point is: We are, you know, very — I think very aware that what we’re doing at this stage is really trying to ensure that we have pilots and some important experimentation happening, because there are going to be challenges associated with adopting any new technology.

Third is, the framework that [senior administration official] mentioned is one that’s going to have to be continuously updated. And we have tried to set it up in a way so that that can happen in real time as there are challenges that are inevitably encountered.

And parallel to the policy process here, we have a lawyers group that is kind of working very intensively to ensure that, obviously, all existing law is complied with, but also to ensure that novel legal issues as we encounter them are addressed in a timely way as well.

I do want to just address the point on data that you mentioned specifically, which is, you know, we have been very concerned about the ways in which Americans’ sensitive data can be sold, really through the front door — through first collected in bulk, then sold through data brokers, and then end up in the hands of our adversaries. And so, that’s something that the President issued an executive order on to try to restrict adversary access to some of that data. And, in fact, just this week, we took one more step in the regulatory process through a notice of proposed rulemaking to try to get that final later this year.

SENIOR ADMINISTRATION OFFICIAL: And if I can just add on that.

So, in addition to the work that the AI Safety Institute is going to do, and as [senior administration official] mentioned some of the other work, you’ll see that in the NSM itself there are very specific requirements for specific agencies and our intelligence community, and, for instance, the Department of Energy to do classified testing of different systems for different purposes for this very reason.

And in addition to that, as [senior administration official] mentioned, there’s a strong focus on experimentation here for this very reason. We want to see rapid adoption, but we also want to see experimentation that will tease out kind of what missions are best suited for various systems and also tease out the challenges of them. And that’s going to require leaning forward and experimenting, adopting, and then doing all of the work that was just mentioned as well, in terms of both policy and legal review.

MODERATOR: Thank you. We have time for one more question, and we’ll go to the line of Maria Curry. You should be able to unmute yourself.

Q    Hey. Thanks for taking my question. I’m wondering if export controls are part of this at all. And if so, can you elaborate how those might be helpful?

And then, if you could just elaborate, too, on the third point. Could you dig in a little bit deeper into how agencies can or can’t use the technology? Could you provide an example or two of that? Thank you.

SENIOR ADMINISTRATION OFFICIAL: I can speak to the export control piece, and, [senior administration official], maybe you can speak to some of the prohibited use cases.

So, really, the NSM does kind of address, kind of as a matter of policy, the importance of protecting advanced AI technologies so that they’re not used against us by adversary militaries or intelligence services. And so, at a high level, it does kind of try to emphasize the importance of maintaining those policies and making sure that we are continuously adapting to efforts to circumvent those measures.

And as you know, those export controls cover not only GPUs, the advanced AI chips, but also the semiconductor manufacturing equipment that’s necessary to manufacture those as well. So, that full aspect of the supply chain.

[Senior administration official] do you want to say anything about prohibited uses?

SENIOR ADMINISTRATION OFFICIAL: Sure. So, you’ll see in the accompanying framework document that I mentioned, it identifies both prohibited, as well as what we call high-impact AI use cases, based on the risk that they pose to national security, international norms, democratic values, human rights, civil rights, civil liberties, privacy, and safety.

And on the prohibited end of the spectrum, these will be — not surprising, but there are clear prohibitions on use of AI with intent or purpose, for instance, to unlawfully suppress or burden the right to free speech or the right to legal counsel.

There’s also prohibited use cases around, for instance, removing a human in the loop for actions critical to informing and executing decisions by the President to initiate or terminate nuclear weapons employment, for example. That runs the spectrum of kind of military-related activities, but also protecting civil liberties and tracking international norms.

But in doing that, we actually view these restrictions — so these prohibitions, for example, as well as the high-impact cases — as being important in clarifying what the agencies can and cannot do. That will actually accelerate experimentation and adoption. Because one of the paradoxical outcomes we’ve seen is: With a lack of policy clarity and a lack of legal clarity about what can and cannot be done, we are likely to see less experimentation and less adoption than with a clear path for use, which is what the NSM and the framework tries to provide.

MODERATOR: Thank you. That’s all the time we have for today. Big thanks to our speakers, and thanks to you all for joining.

As a reminder, this call is on background, attributable to senior administration officials. And this call and its contents are embargoed until 6:00 a.m. Eastern tomorrow.

Thanks, all, for joining. And be sure to tune in tomorrow to National Security Advisor Jake Sullivan’s remarks on this topic. Thanks again.

MIL OSI USA News –

January 25, 2025
MIL-OSI China: Xi advocates high-quality development of greater BRICS cooperation at milestone summit

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

Xi advocates high-quality development of greater BRICS cooperation at milestone summit

KAZAN, Russia, Oct. 24 — Chinese President Xi Jinping on Wednesday called on BRICS countries to work for the high-quality development of greater BRICS cooperation as leaders gathered here for the 16th BRICS Summit.

In his address to the summit, Xi emphasized the need for BRICS countries to seize the historical opportunity and work together to strengthen solidarity and cooperation among Global South nations.

STRENGTHENING SOLIDARITY

During a small-group meeting, President Xi welcomed new members to the BRICS family and extended invitations to many other countries to become partner countries.

Xi pointed out that the enlargement of BRICS is a major milestone in its development history, and a landmark event in the evolution of the international situation. It is for their shared pursuit and for the overarching trend of peace and development that BRICS countries have come together, he said.

Stressing that the world is undergoing accelerated changes unseen in a century, marked by new trends of multipolarity and the risks of a “new Cold War,” Xi said BRICS countries should seize the historical opportunity, take proactive steps, remain committed to the original aspiration and mission of openness, inclusiveness and win-win cooperation, conform to the general trend of the rise of the Global South, seek common ground while reserving differences, work in concert to further consolidate common values, safeguard common interests, and strengthen BRICS countries through unity.

“We must work together to build BRICS into a primary channel for strengthening solidarity and cooperation among Global South nations and a vanguard for advancing global governance reform,” Xi said.

Xi stressed that the more turbulent the world is, the more BRICS countries should uphold the banner of peace, development and win-win cooperation, refining the essence of BRICS and demonstrating its strength. BRICS countries should raise the voice of peace, advocating a new path to security that features dialogue over confrontation and partnership over alliance.

Xi also urged BRICS countries to jointly pursue a path of development, advocate a universally beneficial and inclusive economic globalization, and stay committed to the principle of common development. He said BRICS countries should consolidate the foundation of cooperation, deepen cooperation in traditional areas such as agriculture, energy, minerals, economy and trade, expand cooperation in emerging areas such as green, low-carbon and artificial intelligence, and safeguard trade, investment and financial security.

ADVANCING DEVELOPMENT

As the high-profile gathering unfolded amid global uncertainties, BRICS embarked on a new chapter, cementing its growing influence on the world stage.

President Xi, addressing the leaders in an expanded format, put forward five suggestions: building a BRICS committed to peace, innovation, green development, justice, and closer people-to-people exchanges.

“We must build on this milestone summit to set off anew and forge ahead with one heart and one mind,” Xi said. “China is willing to work with all BRICS countries to open a new horizon in the high-quality development of greater BRICS cooperation.”

This year’s summit also marked another major milestone with the decision to invite a number of nations as partner countries, further advancing the group’s development.

During Wednesday’s meetings, leaders exchanged views on BRICS cooperation and crucial international issues of shared concern under the theme “Strengthening Multilateralism for Just Global Development and Security.” Central to their discussions were global and regional security, sustainable development, climate change, and reforms in global economic governance.

A notable focus of the summit was the call for increased funding to support the sustainable development of developing countries. Egyptian President Abdelfattah al-Sisi said that BRICS aims to “strengthen a multipolar international system,” particularly through facilitating “innovative and effective” financing for developing nations.

Russian President Vladimir Putin said that “the trend for the BRICS’ leading role in the global economy will only strengthen.” He cautioned against the ongoing risks posed by geopolitical tensions, unilateral sanctions, and protectionism. “A key task is to promote the use of national currencies to finance trade and investment,” Putin said.

Brazilian President Luiz Inacio Lula da Silva, who participated in the summit via video link due to a head injury, said, “It’s not about replacing our currencies, but we need to work so that the multipolar order we aim for is reflected in the international financial system.”

BRICS has already made strides with the New Development Bank (NDB), headquartered in Shanghai. On Wednesday, the BRICS countries agreed to support the NDB in implementing its general strategy for 2022-2026 and in expanding local currency financing.

In a declaration issued at the 16th BRICS Summit, they also agreed to jointly build the NDB into a new type of multilateral development bank for the 21st century, support its further expansion of membership, and expedite the review of membership applications from BRICS countries in accordance with its general strategy and related policies.

Leaders also advocated for a fairer global order for the Global South. South African President Cyril Ramaphosa said that BRICS is an inclusive bloc capable of changing the trajectory of the Global South. “To do this we must realize the full potential of our economic partnership, to ensure sustainable development for all and not just for some,” he said.

“The period of unilateralism is coming to an end,” said Iranian President Masoud Pezeshkian, calling for a more equitable global system.

GROWING APPEAL

The term BRIC was initially coined in 2001 by Jim O’Neill, former chief economist at Goldman Sachs, as an investment concept referring to emerging market economies of Brazil, Russia, India and China. With South Africa’s inclusion in 2010, BRICS officially took shape.

In a recent interview with Xinhua, O’Neill acknowledged the need for policymakers to collaborate in creating an optimal system that benefits all. “I think as we pass through time, we will find a new equilibrium where countries will be more at ease with what other countries are doing,” he said.

In recent years, BRICS has garnered attention from countries around the world. Over 30 countries, including Thailand, Malaysia, Türkiye, and Azerbaijan, have either formally applied for or expressed interest in joining the group. Many other developing countries are also seeking stronger cooperation with BRICS.

The growing interest from countries seeking to join BRICS cooperation each year demonstrates that in today’s troubled world, BRICS is not only important but essential, said Bunn Nagara, director and senior fellow at the Belt and Road Initiative Caucus for Asia-Pacific.

“China, led by President Xi, has contributed significantly to BRICS’ success with a progressive and enlightened approach,” said Nagara.

BRICS is seen as a vital platform for developing countries to pursue growth and address global imbalances.

The enlargement of BRICS is “important in tipping the financial and technological balance in favor of the majority Global South rather than the minority Global North,” Webby Kalikiti, a lecturer and researcher at the Department of History, University of Zambia noted. He believed that the future of the world depends on the cooperative energies of all countries and the transition to a multipolar world.

Ahmed Al-Ali, a political and strategic researcher at the Gulf Research Center in Dubai, believed that BRICS aims to foster a more equitable, effective, and rational international system.

It will play a crucial role in promoting development and growth opportunities for Global South countries, while also ensuring the sustainability of economic and social progress, said Al-Ali.

Similarly, Sithembiso Bhengu, a senior research fellow with the Sociology Department, University of Johannesburg said that “the BRICS mechanism presents real possibilities for making the globe a fairer community of nations, with possibilities for mutual support and cooperation towards our respective goals in modernization and development.”

MIL OSI China News –

January 25, 2025

Category: Russian Federation

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