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Category: Scandinavia

  • MIL-OSI: Nokia and ZCorum collaborate to develop DOCSIS Provisioning Adapter for cable-to-fiber transition

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia and ZCorum collaborate to develop DOCSIS Provisioning Adapter for cable-to-fiber transition

    • Nokia entered into an agreement with ZCorum to develop a DOCSIS Provisioning Adapter (DPA) application to work with Nokia’s Altiplano platform.
    • The DPA will enable cable operators to provision a PON ONT and subscriber services using their existing DOCSIS provisioning system, facilitating a transition to fiber-to-the-home.
    • The DPA application will be offered through Nokia’s Altiplano Marketplace and provided to customers by Nokia.

    24 September 2024
    Espoo, Finland – Nokia today announced that it has partnered with ZCorum, a leading provider of diagnostics and managed services for broadband providers, to develop a DOCSIS Provisioning Adapter (DPA) application. The DPA solution will allow cable operators to use their existing DOCSIS-based provisioning system to provision an Optical Network Terminal (ONT) and subscriber services on an ITU-based Passive Optical Network (PON).

    Cable operators are upgrading their networks to fiber because it offers the highest performance, scalability, and reliability. This transition often involves implementing a next-generation fiber management solution. For MSOs seeking a more gradual shift from their DOCSIS-based Operations Support Systems (OSS), a software-based DPA offers a seamless pathway. Beyond simplifying the evolution to Fiber-to-the-Home (FTTH), the DPA application can also help distribute adoption costs and expedite time-to-market.

    The Nokia DPA provides an interworking function, or translation layer, bridging the DOCSIS-based management system and Nokia’s Altiplano Access Controller. Altiplano is an open and programmable platform offering a complete suite of network management functions and software-defined networking (SDN) controls for Nokia’s Lightspan PON networks.

    The Nokia DPA application is expected to be available for lab trials by the end of 2024. When broadly introduced, the Nokia DPA will be offered through the Nokia Altiplano Marketplace. The Nokia Altiplano Marketplace gives operators access to a catalog of ready-made automation tools and network analytics to get the most out of their broadband network. Additionally, Nokia’s Altiplano Access Controller platform gives operators and third-party developers, such as ZCorum, access to open APIs and a Software Development Kit (SDK) for developing value-added applications.

    More information and a demonstration of the DPA will be available at Nokia’s booth (#1903) at SCTE TechExpo 24, September 24-26 in Atlanta, GA.

    Jeff Heynen, Vice President at Dell’Oro Group, said: “While cable operators are upgrading their networks in various ways, virtually all are deploying PON-based FTTH networks in greenfield. Many are also overbuilding their whole network with PON or strategically adding it into their legacy HFC networks. MSOs will benefit from and welcome any tool that makes it easier, faster, and more cost-effective to deploy PON. Certainly, Nokia’s DPA will do just that.”
         
    Julie Compann, President and CEO at ZCorum, said: “ZCorum has been serving DOCSIS and fiber operators since the time those technologies first launched, so developing DPA is a natural project for our company. Cable operators recognize the benefits of migrating to fiber, but also have a significant investment in their DOCSIS infrastructure. DPA will allow them to focus on fiber deployment where needed, without the need to immediately deploy a second provisioning system. We are pleased to be working with Nokia and their team to make that possible.”

    Geert Heyninck, VP and GM Broadband Networks at Nokia, said: “As the industry leader in PON, Nokia is ideally positioned to assist cable operators in moving to next-generation networks, enabling them to deliver the best possible service to their subscribers. The DPA app we are developing with the OSS experts at ZCorum will offer our customers a simple means to ease their transition to FTTH and attain a more competitive position in their markets.”

    Resources and additional information
    Webpage: Fiber broadband for cable operators
    Webpage: Altiplano Access Controller
    Webpage: Altiplano Marketplace
    Webpage: ZCorum Managed Services and Diagnostics

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About ZCorum
    ZCorum provides a suite of services to broadband operators with the goal of enhancing their operational efficiency, reducing costs, increasing revenue, and improving the subscriber experience. Services include Diagnostics Software for Fiber and DOCSIS networks, Device Activation, Cybersecurity as a Service, Bandwidth Management, Hosted Residential and Commercial VoIP, Fully Managed IPTV Services, and 24×7 End-User Technical Support.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
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    The MIL Network –

    September 29, 2024
  • MIL-OSI: Nokia selected by Spark as majority 5G RAN partner in New Zealand

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia selected by Spark as majority 5G RAN partner in New Zealand

    • Nokia to partner with Spark to expand its 4G and 5G infrastructure in key cities across New Zealand.
    • Partnership supports Spark’s goal to simplify and consolidate network operations.

    24 September 2024
    Espoo, Finland – Nokia today announced that it has been selected by Spark New Zealand (Spark), to expand its existing 4G and 5G program in cities across New Zealand. Spark has chosen Nokia as its preferred 5G Radio Access Network partner to streamline operations and consolidate its RAN. This strategic decision will simplify network operations while delivering the best-performing 5G network in New Zealand.

    Under the deal, covering over 700 sites, Nokia will provide equipment from its comprehensive 5G AirScale portfolio. This includes baseband, remote radio heads, and massive MIMO radios, offering industry-leading 5G capacity, coverage, and connectivity. These solutions utilize Nokia’s energy-efficient ReefShark System-on-Chip technology, delivering superior capacity and connectivity to Spark customers while reducing complexity and improving cost efficiencies.

    Renee Mateparae, Network and Operations Director for Spark said: “Nokia has been a trusted partner of ours for many years, and we are excited to work with them on bringing a world-class 5G network to more of Aotearoa, New Zealand. This next phase of our partnership will see us streamlining our 5G deployments to simplify operations and deliver great 5G experiences for our customers every day. Working with Nokia, we aim to deliver next-generation services that will empower the people and businesses creating Aotearoa, New Zealand’s tomorrow.”

    Tommi Uitto, President of Mobile Networks at Nokia, said: “We are thrilled to have been selected by Spark as the majority supplier for this transformative 5G project and to support its vision of streamlining operations and consolidating its network. With our state-of-the-art technology solutions, we are confident that Spark will achieve its objectives of enhancing network efficiency, improving service quality, and delivering a seamless experience to its customers.”

    Resources and additional information:
    Webpage: Nokia 5G
    Webpage: AirScale Radio Access

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable, and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

    September 29, 2024
  • MIL-OSI Europe: Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050

    Source: Government of Sweden

    Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050 – Government.se

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    Press release from Ministry of Climate and Enterprise

    Published 24 September 2024

    Yesterday, 23 September, Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch took part in a meeting between ministers and other high representatives of countries that backed a COP28 declaration on the need to triple production of nuclear energy by 2050. In conjunction with the meeting, global banks and financial institutions backed the countries’ ambition to increase production of electricity from nuclear energy.

    During the meeting, discussions touched on how to proceed from the declaration and how the countries could jointly realise this collaboration. Representatives of global banks and financial institutions took part in discussions on how to finance large-scale expansion. 

    “One of the greatest obstacles to the necessary expansion of nuclear energy is to secure financing. Governments, financial institutions and industry have critical roles to play in this endeavour. I am delighted by this decision, which attests to the shared view of nuclear energy’s importance among both governments and the financial sector,” says Ms Busch. 

    Countries that support the declaration

    Sweden, Armenia, Bulgaria, Canada, Croatia, Czechia, Finland, France, Ghana, Hungary, Jamaica, Japan, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, Slovakia, Slovenia, South Korea, Ukraine, the United Arab Emirates, the United Kingdom and the United States.

    Background

    Interest for new nuclear energy is growing rapidly in many countries, including here in the EU. This applies both to countries that already have nuclear energy and those who had previously held a neutral or sceptical view of the technology. More and more countries are realising that everyone needs to secure fossil-free energy – both renewable and nuclear – to succeed in the green transition, strengthen competitiveness and achieve the climate goals. Major energy price increases following Russia’s invasion of Ukraine have also illustrated the importance of democratic countries not being reliant on dictatorships.

    Press contact

    MIL OSI Europe News –

    September 29, 2024
  • MIL-Evening Report: No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming

    Source: The Conversation (Au and NZ) – By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

    Who’d want to be Reserve Bank Governor Michele Bullock? On Tuesday she had to do the almost impossible: defend a decision not to cut interest rates at a time when they were being cut in just about every other major industrial nation.

    On Thursday the US Federal Reserve joined the Bank of England, the Bank of Canada, the Reserve Bank of New Zealand and central banks in China, Sweden and the European Union in what its officials expect to be a series of cuts, kicking off with a double-header: a cut of 0.50 percentage points instead of the usual 0.25.

    In her press conference after Tuesday’s board meeting Governor Bullock said disinflation was “further advanced” in those countries than it was in Australia.

    Australian interest rates were “restrictive” (high enough to hurt) but were working “broadly as anticipated”.

    While household spending was weaker than had been expected, it would be

    some time yet before inflation is sustainably in the target range.

    But the problem with what she said, both after the meeting and in her statement, is inflation is probably already within the target range.

    Credibility gap

    The Reserve Bank’s target is 2-3%. Inflation hasn’t been there since it surged in 2021 as much of the world came out of lockdowns.

    On Wednesday, the day after Bullock’s announcement, the Bureau of Statistics will release the monthly consumer price index for August. It’s expected to be the first to show inflation back between 2% and 3%.

    Westpac is expecting an annual rate of 2.7%, comfortably back within the target band. When the more-comprehensive quarterly measure is released next month, Westpac is expecting 2.9%.

    If inflation is 2.7%, how can it be too high?

    Bullock squares her view that inflation is not yet moving sustainably towards the target with the reality that it is probably already there by saying she expects it to “pop back up again” when the temporary effect of electricity bill rebates wears off.

    The Commonwealth government announced $3.5 billion worth of rebates in the May budget. They will be applied automatically to electricity bills for each of the next four quarters, and topped by several of the states. In Queensland, they amount to $1,300 per household.

    A staged rollout means the rebates hit bills in only Queensland and West Australia in July and will hit other states in August. The Bureau of Statistics says they took 6.4% off the average national power price in July and Westpac expects them to take off a further 15% in August.

    A permanent 10% increase in the maximum rate of Commonwealth rent assistance delivered last week will put further downward pressure on inflation.

    It’s easy to see why Bullock thinks the temporary measures should be disregarded.

    The RBA says what matters is underlying inflation

    Bullock is directing attention to the Reserve Bank’s preferred measure of underlying inflation, a measure that excludes sharp movements and gives a better idea of where typical prices are heading.

    At 3.9% for the year to the June quarter, she says that measure is still too high. But it has been falling for each of the past six quarters and is on track to fall to 3.5% in the September quarter. By my way of thinking, that shows inflation is moving “sustainably towards the target range” in the way she says she wants.

    As in the US and the UK and New Zealand and all the other countries with which we compare ourselves, inflation doesn’t need to be actually back to the target before the authorities ease off on high interest rates. If they waited that long they would overshoot and push inflation too low.

    But headline inflation matters in its own right

    In any event, a low headline inflation rate is important in its own right, however it is achieved. It’s the rate the Reserve Bank prints at the top of its website, the rate that’s published in the media and the rate that people experience.

    If inflation is actually low, however that is brought about, shoppers become less tolerant of price rises (something the Reserve Bank says is happening) and less keen to demand high wage rises (something that is also happening).

    They also become less keen to rush out and buy things before their price goes up, something that can perpetuate high inflation.

    Right now we are doing everything but rushing out to push up prices.

    A briefing note prepared by the Australian Council of Social Service ahead of Tuesday’s Reserve Bank board meeting says real household disposable income per capita has fallen by almost 8% since inflation and interest rates began climbing, far more than in the US, the UK, Germany and Canada.

    Bullock is about to get more chances to cut

    There’s a chance the tax cuts that began in July will give spending a bit of a boost but much of whatever extra spending there is will be on imports, and the steadily climbing Australian dollar is making them cheaper by the day.

    The Australian dollar hit a new high for the year of 68.5 US cents on Tuesday on the back of a widening differential between US and Australian interest rates as the US cuts rates.

    Governor Bullock gets two more opportunities to cut rates this year, at the board meeting on Melbourne Cup Tuesday November 5 shortly after news of very low inflation in the September quarter, and on December 9 shortly after news of economic growth likely to show income per person going further backwards.

    There’s a fair chance she will take one of them.

    Peter Martin is Economics Editor of The Conversation.

    – ref. No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming – https://theconversation.com/no-rba-rate-cut-yet-but-governor-bullock-is-about-to-find-the-pressure-overwhelming-239603

    MIL OSI Analysis – EveningReport.nz –

    September 29, 2024
  • MIL-OSI Security: Admiral Vandier takes command of Allied Command Transformation

    Source: NATO

    On 23 September 2024 in Norfolk, United States, Admiral Pierre Vandier succeeded General Philippe Lavigne as Supreme Allied Commander Transformation. Admiral Rob Bauer, Chair of the NATO Military Committee, presided over the change of command ceremony.

    French Navy Admiral Vandier is the ninth Supreme Allied Commander Transformation. After joining the French Naval academy, he rapidly became a naval fighter pilot, performing numerous combat missions for almost two decades. He has commanded twice at sea, the frigate Surcouf and the aircraft carrier Charles de Gaulle. Most recently he was Chief of the Naval Staff and then Vice Chief of defence.

    Admiral Bauer warmly welcomed Admiral Vandier and emphasised the importance of ACT in building the Alliance’s future: “ACT plays an invaluable role in ensuring that the Alliance safeguards the security and interests of its members against both the current threats and challenges we face today, as well as those that may arise in the future and beyond our present imagination. Allied Command Transformation is a symbol of NATO’s confident embrace of the future and its challenges.”

    Admiral Bauer highlighted the major successes of General Lavigne at the helm of ACT over the past three years. During his tenure at Allied Command Transformation, General Lavigne has overseen: 

    • the military integration of North Macedonia, Finland and Sweden;
    • the Multi Domain Operations concept, roadmap and implementation, supported by Digital Transformation and the continuum of experimentation & innovation;
    • the integration of the DDA family of Plans into the NATO Defence Planning Process;
    • the implementation of the Warfare Development Agenda;
    • and ACT’s work in developing all fields of innovation on which DIANA is able to grow.

    Admiral Bauer praised the leadership that General Lavigne has shown during this time: “With your keen intellect, strategic vision and infectious enthusiasm, you manage to make sure everybody who crosses your path wants to join your team. Nobody embodies the slogan “win as a team” like you do.”

    In his speech, Admiral Bauer stressed that in order to address modern defence challenges, Allies must rethink their approach to cooperation with the private sector. Moving away from a ‘just enough, just in time’ mindset, the Allies now need substantial stockpiles of weaponry and a decisive technological edge for deterrence. “In defending against near-peer adversaries, governments and the private sector must break the deadlock, fostering trust, long-term vision, and innovation. With our extensive reservoir of knowledge and creativity, I’m confident we can achieve this transformation”, stated Admiral Bauer.   

    At the ceremony, Admiral Vandier stated his vision for the command: “For all of us here, maintaining our military credibility calls for an extraordinary effort to modernize our training; aggregate new technologies; and invent new combat tactics that will give us operational superiority in a context of rapid global rearmament.” He continued by stressing that his “commitment, our collective commitment, is to provide the most efficient tools and procedures that will give them operational success in conflict and war.”
     

    MIL Security OSI –

    September 29, 2024
  • MIL-OSI United Kingdom: Global Partnership for Action on Gender-Based Online Harassment and Abuse calls for urgent action on countering gendered disinformation

    Source: United Kingdom – Executive Government & Departments

    The governments of Australia, Chile, Denmark, France, Iceland, the Republic of Korea, Spain, Sweden, New Zealand, the UK and the USA gave this joint statement.

    Joint statement from the governments of Australia, Chile, Denmark, France, Iceland, the Republic of Korea, Spain, Sweden, New Zealand, the United Kingdom and the United States of America:

    The undersigned country members of the Global Partnership for Action on Gender-Based Online Harassment and Abuse (Global Partnership) call attention to the urgent need to counter the spread of gendered disinformation and address all forms of technology-facilitated gender-based violence (TFGBV) against women in political and public life.  

    Gendered disinformation is a threat to societies defending peaceful, democratic values. False or misleading gender and sex-based narratives are being used in campaigns by malign actors to deter and discredit the participation of women, girls and LGBTQI+ persons in political and public life. This not only causes deep harm to the individuals targeted, but also threatens electoral integrity, access to information and the exercise of freedom of expression. At the same time, new and emerging technologies are being used to enable harmful, violent rhetoric and attacks against women, girls and LGBTQI+ public figures across borders at a scale and speed previously unseen.

    In our 2023 Road Map, the Global Partnership committed to promoting the meaningful participation in public life for women and girls, in all their diversity, by countering TFGBV and gendered disinformation. 

    We welcome the work being done to shine a light on how and why gendered disinformation is conceived, who it targets and how it is spread. Last year, in a groundbreaking study, Canada, the European External Action Service, Germany, Slovakia, the United Kingdom, and the United States jointly assessed the tactics used by foreign state and non-state actors to sow gendered and other identity-based disinformation across the world.

    In March 2024 the Global Partnership and members of its Advisory Group co-hosted a multi-stakeholder conference convened by the National Democratic Institute on possible responses (PDF, 2.1 MB) to countering the spread of gendered disinformation in the context of electoral processes. Stakeholders affirmed the need for a comprehensive response to disrupt the spread of gendered disinformation and to support victims and survivors.

    The world is at a critical moment for upholding democracy. More than 100 countries have held, or are soon to be holding elections, many of them taking place under democratically challenging circumstances. The active participation of all people, including women, girls and LGBTQI+ persons, is essential for secure, healthy and prosperous democracies.   

    We call upon states to join us in recognising and taking action to counter the threat of gendered disinformation to democracies globally. We urge technology and other private companies to take appropriate action to respond to this threat, including a commitment to a Safety-by-Design approach to the development and deployment of platforms and technologies. We ask states and all stakeholders to defend and protect the ability of women, girls and LGBTQI+ persons to participate in public life freely, safely and without fear.

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    Updates to this page

    Published 24 September 2024

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI Europe: Sweden’s and Finland’s Governments held historic meeting in Stockholm

    Source: Government of Sweden

    Sweden’s and Finland’s Governments held historic meeting in Stockholm – Government.se

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    Article from Prime Minister’s Office

    Published 24 September 2024

    On 16 September, Sweden’s Government received Finland’s Government for a joint meeting. They adopted a declaration on enhanced cooperation between the countries, and the countries’ ministers took part in almost 20 visits and activities around Stockholm.

    The joint meeting was the second ever for Sweden and Finland, and the first for the two countries on Swedish soil. It lasted two hours and resulted in the signing of a joint declaration on enhanced cooperation between the countries.

    Prime Minister Ulf Kristersson – who described Finland as Sweden’s closest partner ahead of the meeting – held a joint press conference at Rosenbad together with Finland’s Prime Minister Petteri Orpo to discuss the declaration and enhanced cooperation.

    The declaration includes the efforts for a secure, green and free Nordic region, the importance of continued strong support to Ukraine, cooperation to strengthen competitiveness at national and EU levels and enhanced cooperation on law enforcement. The ambition of attracting highly qualified international workers, enhanced cooperation in the areas of research, development and innovation, joint efforts to promote children’s and young people’s health and continued cooperation in the areas of culture and international tourism are also included.

    The Swedish and Finnish ministers took part in a large number of visits and activities around Stockholm in the afternoon. These included visits to a higher vocational education institution, a fire station, the Baltic Sea Science Center at Skansen, Värtaverket’s thermal power station, the ports of Stockholm, a family centre and school in Rinkeby, the Swedish Social Insurance Agency headquarters and the Royal Swedish Academy of Sciences.

    Mr Kristersson, Mr Orpo, Sweden’s Minister for Energy, Business and Industry Ebba Busch and Finland’s Minister of Economic Affairs Wille Rydman also took part in a business seminar held by the Confederation of Swedish Enterprise and the Confederation of Finnish Industries at Storgatan to discuss how to jointly enhance Sweden’s, Finland’s and the EU’s competitiveness.

    The day concluded with a mingle in the Sager House and a dinner and art tour at Sven-Harrys konstmuseum.

    MIL OSI Europe News –

    September 29, 2024
  • MIL-OSI Europe: Sweden launches new multi-year support to Global Alliance for Trade Facilitation

    Source: Government of Sweden

    Sweden launches new multi-year support to Global Alliance for Trade Facilitation – Government.se

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    Press release from Ministry for Foreign Affairs

    Published 24 September 2024

    In 2024–2026, Sweden will provide SEK 30 million to the Global Alliance for Trade Facilitation. Together with governments and businesses, the Alliance promotes economic development and poverty reduction by making it easier for developing countries to participate in world trade.

    In 2024–2026, Sweden will provide SEK 30 million to the Global Alliance for Trade Facilitation. Together with governments and businesses, the Alliance promotes economic development and poverty reduction by making it easier for developing countries to participate in world trade. 

    “The Alliance has shown that targeted measures promoting cooperation between governments and businesses have great potential to create economic growth through increased trade in developing countries. Creating synergies between development cooperation, promotion and trade policy is a key part of the Government’s reform agenda for Swedish development assistance,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

    Businesses in developing countries often face a variety of challenges when they want to take part in the global economy. These may include complex customs procedures, inefficient border management and a dependence on paper certificates. Such trade barriers restrict developing countries’ ability to benefit from international trade and thereby reduce poverty. The Alliance works in close cooperation with governments and businesses in developing countries to identify practical projects where state actors and companies can work together to implement reforms and new ways of working that simplify trade. 

    When implementing projects, the Alliance works closely with both local businesses and multinational companies. The Alliance is currently carrying out around 20 projects around the world, primarily in the least developed countries.

    This support is in line with the Government’s overall ambition to create conditions for developing countries and for people to move from poverty to prosperity through trade and economic development.

    Sida will allocate the support, which comprises SEK 10 million annually over three years. It will be financed through the Strategy for Sweden’s global development cooperation in sustainable economic development 2022–2026.

    About the Global Alliance for Trade Facilitation

    The Alliance was founded in 2015, when a number of donor countries saw the importance of involving the business sector in implementation of the World Trade Organization (WTO) Trade Facilitation Agreement. The Alliance is led by the Center for International Private Enterprise, the International Chamber of Commerce and the World Economic Forum – in cooperation with Gesellschaft für Internationale Zusammenarbeit, a German international cooperation organisation.

    Press contact

    MIL OSI Europe News –

    September 29, 2024
  • MIL-OSI Europe: Minister for Foreign Affairs Maria Malmer Stenergard and Minister for International Development Cooperation and Foreign Trade Benjamin Dousa met their Finnish counterparts at Swedish-Finnish government meeting

    Source: Government of Sweden

    Foreign ministers highlighted support to Ukraine 

    During the visit, Sweden’s Minister for Foreign Affairs Maria Malmer Stenergard and her Finnish counterpart Elina Valtonen took part in a panel discussion on Swedish-Finnish cooperation on support to Ukraine. 

    “Support to Ukraine is my top priority as Minister for Foreign Affairs, and it is particularly important that we discuss with Finland how best to continue supporting Ukraine,” Ms Malmer Stenergard said during the panel. Ms Valtonen also emphasised the value of Swedish-Finnish cooperation and stated that she was looking forward to ensuring even more in-depth joint efforts.

    The panel was moderated by Maud Holma von Heijne, Secretary-General of Folk och Försvar. The other participants were Torbjörn Becker, Director of the Stockholm Institute of Transition Economics, and Katarina Areskoug, former Head of the Representation of the European Commission in Sweden and Swedish representative in the Nordic-Baltic high-level group.

    Following the panel discussion, Elly Reinolds, co-founder of OperationAid, presented the organisation’s operations in Ukraine, providing medical care close to the front line and activities for children affected by the war. This year, Sweden has contributed SEK 5 million to its ActiveKids project, which aims to strengthen children and young people and offer them respite, as well as mitigating mental health issues.

    Minister for International Development Cooperation and Foreign Trade discussed support to scale-ups 

    In connection with the government meeting, a seminar was also held on support to Swedish and Finnish scale-ups, with a focus on financing and internationalisation. Minister for International Development Cooperation and Foreign Trade Benjamin Dousa and his Finnish counterpart Ville Tavio were the hosts. Along with businesses, investors and organisations, they discussed how Sweden and Finland can create the best conditions for scale-ups to grow.

    “It’s clear that there’s huge engagement among those represented here today. Together we can make a difference. Scale-ups are innovative and knowledge-intensive businesses that, given the right conditions, can have an impact on society and entire sectors. It was inspiring to listen to the solution-oriented discussions, which also resulted in a number of concrete proposals,” says Mr Dousa.

    The seminar was organised by the Ministry for Foreign Affairs in cooperation with Business Sweden and Swedish Incubators and Science Parks (SISP), and was held at Epicenter, a creative meeting place for growing companies.

    MIL OSI Europe News –

    September 29, 2024
  • MIL-OSI Video: World Bank’s Fund for Low-Income Countries – Press Conference | United Nations

    Source: United Nations (Video News)

    The Prime Minister of Denmark, Mette Frederiksen, and World Bank Group President Ajay Banga briefed reporters today (23 Sep) on the Denmark’s support for the World Bank’s Fund for Low-Income Countries.

    Prime Minister Frederiksen previously announced at the United Nations’ Summit of the Future, that Denmark has pledged approximately $491.7 million to the World Bank’s fund for the poorest countries, making it a 40 per cent increase over the country’s previous contribution.

    Speaking to journalists, Frederiksen reiterated Denmark’s commitment, stating, “you can count on Denmark, both when it comes to the concrete and necessary tasks, but also in supporting the reforms. And I think it’s not only necessary for the countries who are in need of it, but it’s also necessary if we want to stick together as one world.”

    World Bank President Ajay Banga echoed the need for action. He said, “we can, frankly, we must, help to chart a course towards that brighter future,” emphasizing that the starting point lies in supporting initiatives like the International Development Association and leveraging the World Bank’s knowledge.

    https://www.youtube.com/watch?v=j6YVT_R7vXU

    MIL OSI Video –

    September 29, 2024
  • MIL-OSI Banking: Ida Wolden Bache: Time to ease monetary policy is approaching

    Source: Bank for International Settlements

    Presentation accompanying the speech

    Chart 1: Policy rate held unchanged

    The Monetary Policy and Financial Stability Committee decided to keep the policy rate unchanged at 4.5%. Based on the Committee’s current assessment of the outlook, the policy rate will most likely be kept at that level to the end of the year.

    Norges Bank is tasked with keeping inflation low and stable. The operational target is inflation of close to 2 percent over time. We are also mandated to help keep employment as high as possible and to promote economic stability.

    After inflation surged a couple of years ago, we have raised the policy rate significantly, and since December last year the policy rate has been held at 4.5 percent. The interest rate has contributed to cooling down the economy and to dampening inflation.

    Many central banks in trading partner countries have started cutting policy rates. One might wonder why we are not reducing the policy rate now.

    Inflation has declined significantly from its peak but is still above our inflation target. The rapid decline in inflation observed in recent months is not expected to continue going forward. Further disinflation will be restrained by the krone depreciation combined with the high growth in business costs.

    A restrictive monetary policy is still needed to bring inflation down to target within a reasonable time horizon. The Committee is concerned with the possibility that if the policy rate is lowered prematurely, inflation could remain above target for too long. On the other hand, an overly tight monetary policy could contract the economy more than needed. When we set the policy rate, we have to balance these trade-offs.  

    Chart 2: Gradual policy rate reduction from next year

    Based on our current assessment of the outlook, the policy rate needs to be kept at today’s level for a period ahead. At the same time, we are approaching the time to lower interest rates. If the economy evolves as envisaged, we will maintain the policy rate at 4.5 percent to the end of the year, before it is gradually reduced from the first quarter of next year. The policy rate forecast is little changed but implies a slightly faster rate reduction through next year than our previous forecast published in June. 

    Let me say a few more words about the background for the rate decision and the Committee’s assessment.  

    Chart 3: Low growth in the Norwegian economy

    Growth in the Norwegian economy was low through last year and has remained weak this year. High inflation and the rise in interest rates have reduced household purchasing power and consumption, and residential construction has shown a sharp decline. Economic activity is being supported by public sector demand and heavy investment in the petroleum industry.

    Information from our regional network indicates that economic growth will pick up a little in the second half of this year. But there are wide differences across industries, with oil services expecting strong growth and the construction industry a continued decline.

    Over the past couple of years, the labour market has become less tight, and firms are finding it easier to fill their recruitment needs. Employment is high, but the share of the population employed has fallen a little. Unemployment has edged up from a low level.   

    Chart 4: Inflation has declined markedly from its peak

    At its highest, inflation was above 7 percent. According to last week’s data, inflation is now running at 2.6 percent. Excluding energy prices, which are quite volatile, inflation is a little higher than 3 percent. Inflation has been lower than we expected in June.

    International inflation has also fallen notably, and central bank rate cuts are now expected to be deeper and faster than before summer.

    Chart 5: Wage growth is high

    While wage growth is subsiding among many trading partner countries, it is still high in Norway. Wages increased by 5.2 percent last year, and a comparable increase is expected this year. We expect wage growth to moderate in the years ahead, but given weak productivity growth, business costs will continue to grow at a fast pace.

    Chart 6: The krone has depreciated

    The krone exchange rate has depreciated in recent years and is now weaker than at the time of the June monetary policy meeting. A weaker krone means an increase in prices for imported goods and services, and higher costs for firms that depend on imported intermediate goods. For the export industry, a weaker krone means increased profitability, which can lead to higher wage growth and, in turn, to higher inflation.  

    Movements in the krone exchange rate are determined by a wide range of conditions, in both Norway and internationally. This makes it difficult to explain all exchange rate movements, but we can safely say that the interest rate matters for the krone exchange rate. If we had not tightened monetary policy in recent years, the krone would have been weaker. Experience has also shown that the krone weakens when oil prices fall or, as we saw this summer, financial markets experience turbulence.

    Chart 7: Inflation will slow and unemployment edge up

    With the current policy rate path, inflation is projected to move down further and approach 2 percent towards the end of 2027. Unemployment will likely edge up to about the level prevailing before the pandemic.

    Many people have experienced tighter household budgets in recent years, but most people will find that their budgets will stretch further going forward. Interest expenses will still be high, but we expect wages to rise faster than prices, and the debt burden will be easier to bear.

    The economy may evolve differently than we now anticipate. If the outlook suggests that inflation will return to target faster or there is a more pronounced slowdown in the Norwegian economy, the policy rate may be lowered faster than currently envisaged. On the other hand, if the krone depreciates further or economic pressures increase, inflation could remain elevated for longer. A higher policy rate than currently envisaged may then be required.

    Inflation has slowed sharply. That’s welcome news, and now it’s important that we go the last mile of returning inflation back to the target. By maintaining confidence in the inflation target, we are better equipped to deal with new shocks and periods of turbulence in the future.

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI Banking: Passing of the Crown Coin revealed ahead of November release

    Source: Danmarks Nationalbank

    The final design of the Passing of the Crown coin, marking King Frederik X succeeding Queen Margrethe II, was revealed after Danmarks Nationalbank presented the coin to the monarch.

    The Passing of the Crown Coin is a 20-kroner coin, which will be introduced into general circulation via stores and banks in early November 2024.

    Denmark has a long tradition of issuing commemorative coins to celebrate special events in the royal family, such as anniversaries.The previous time a Passing of the Crown Coin was issued was in 1972, when Queen Margrethe II became monarch following the death of her father King Frederik IX.

    The design of the new Passing of the Crown Coin follows the tradition of previous issuances, as one side features a portrait of King Frederik X in a right-facing profile, while the reverse features Queen Margrethe II, also in a right-facing profile. Both portraits were created by sculptor Eva Hjorth. The coin was designed by Danmarks Nationalbank’s Head of Design, Jeanette Skov Jensen.

    A total of one million Passing of the Crown Coins have been produced. Most of them will enter circulation as regular coins, but some will be made available to the public as collectors’ versions. These will be available to purchase via coin and stamp dealer nordfrim.dk on 1 November 2024. However, It will be possible to pre-order the coin as of

    today.

    The Passing of the Crown Coin will circulate alongside existing coins, which remain legal tender.

    Regular circulation coins featuring King Frederik X are expected to be released during the second half of 2025. More information about this will be available on Danmarks Nationalbank’s website in 2025. These coins will also be circulated alongside coins that are currently in circulation.

    You can see the Passing of the Crown Coin and read more about it at nationalbanken.dk.

    Press enquiries can be directed to Press and Communications Officer Peter Levring on +45 2620 1809.

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI Submissions: Investment Sector – Leo Capital Sets Up Nordic HQ in Helsinki and Launches a €25M Fund Reinforcing Helsinki’s Emerging Role in Attracting Venture Capital Firms

    Source: Helsinki Partners

    Helsinki’s tech ecosystem continues to attract international venture capital firms, as Leo Capital, a successful Singapore-based venture capital firm, launches its Nordic headquarters to support regional B2B startups. Alongside this strategic move, Leo Capital is launching a €25 million fund specifically targeting the Nordic region, marking its first fund focused on Europe. The 90 Day Finn program, which one of Leo Capital’s founders, Shwetank Verma, was part of in 2022, played a crucial role in choosing Helsinki as the location.

    Founded in 2018, Leo Capital has previously managed three funds primarily focused on the APAC region and has actively invested in Europe since 2021. Their successful portfolio includes companies like Apica, Atoa, and Eir. The newly announced fund, Europe Fund I, represents a significant milestone for Leo Capital, as it extends their investment reach into the Nordic startup ecosystem. Business Finland Venture Capital has made an anchor investment in the fund, showing confidence in Leo Capital’s approach amidst challenging market conditions.

    “Europe Fund I continues Leo Capital’s successful strategy of investing in the world’s most capable, ambitious, and resilient founding teams. It is these founders that we are looking to partner with, combining their vision and dynamism with our own networks, resources, and years of cross-border experience to help supercharge their trajectory and realize their global ambitions”, said Shwetank Verma, Co-founder of Leo Capital.

    Helsinki: A New Hub for Venture Capital

    Leo Capital’s decision to expand its operations to Finland came after participating the 90 Day Finn program, an initiative by Helsinki Partners designed to attract international entrepreneurs and investors to Helsinki. Shwetank Verma’s participation in the program provided deep insights into the Finnish business environment, which shares key qualities with Singapore, such as strong government support, a high level of expertise, and a vibrant entrepreneurial spirit.

    “For us, Finland is exciting because we see parallels with what we know best in Singapore, for example. We can see that combination of government support, talent, and entrepreneurial zeal. They’re small markets but very dynamic”, Verma noted.

    Despite the abundant opportunities, Helsinki’s potential remains relatively underexplored on the global stage. Programs like 90 Day Finn have been crucial in bridging this gap, as they have successfully brought international investors like Leo Capital to recognize Finland’s unique offerings.

    “To attract investments, talent, or companies to expand to Helsinki, we need to generate interest and ensure they experience what Helsinki and Finland has to offer. Programs like 90 Day Finn have proven to be incredibly effective. For instance, Leo Capital originally considered another European location for their headquarters but shifted to Helsinki after participating in the program,” commented Johanna Huurre, Business Director at Helsinki Partners.

    The Nordic region, known for its openness and global perspective, provides an inviting ecosystem for international funds. However, while early-stage funding is relatively accessible, there is a notable gap in later-stage funding, an area where Leo Capital aims to make a significant impact.

    “One of the challenges in Finland is the relatively small and local nature of funds. To elevate Finland’s success stories, we need to attract larger international funds and investors. The entry of Leo Capital, with its extensive network, into Helsinki’s ecosystem is a significant step towards this goal,” Huurre added.

    About Leo Capital

    Leo Capital is a Singapore-based early-stage venture fund founded by serial entrepreneurs with global experience. The firm’s portfolio spans 60 early-stage companies supported by a cross-border team across three continents. Leo Capital backs founding teams powering a software-enabled world, supporting them in their journey from great start-up to great company. Leo’s “India Advantage” offers founders support in talent acquisition, go-to-market strategies, and access to a robust network of global co-investors.

    About Helsinki Partners

    Helsinki Partners is the investment promotion agency owned by the City of Helsinki. We have over a decade of experience in helping international companies set up or expand their business, find quality investment opportunities, and expand their network in the Nordics.

    About 90 Day Finn Program

    90 Day Finn program is an unique initiative run by Helsinki Partners and designed to immerse international business leaders, entrepreneurs, and innovators in Helsinki’s business ecosystem and Finnish culture. The program offers participants the chance to explore new market opportunities, network with industry leaders, and experience Finland’s renowned work-life balance. This year, the program welcomed its fourth cohort of participants and took place throughout the entire month of August.

    MIL OSI – Submitted News –

    September 29, 2024
  • MIL-OSI Submissions: Tech Security – Study: Global online privacy and cybersecurity awareness continues to decline

    Source: NordVPN

    The most cybersecurity-aware country this year is Singapore.
    People ages 30-54 have the best cybersecurity skills.
    Only 6% of people globally know what privacy issues to consider when using AI for work.

    The world’s online privacy and cybersecurity awareness continues to decline, according to new research by the cybersecurity company NordVPN. Based on 31 analyzed markets with the highest numbers of responses, people globally knew best how to create strong passwords (96%), and they were worst with questions related to privacy issues that go hand in hand with AI usage for work (52%).  

    The annual National Privacy Test (NPT) is a global survey aimed to evaluate people’s cybersecurity, online privacy awareness, and educate the general public about cyber threats and the importance of data and information security in the digital age. It gathered 25,567 responses from 181 countries this year.

    “As the digital threat landscape evolves faster than ever, it is important that internet users understand the significance of safeguarding their personal information. The National Privacy Test takes the responsibility to educate people globally about cyber threats and equip them with essential tips to protect against fraud, data harvesting, surveillance, and other online dangers,” says Marijus Briedis, chief technology officer (CTO) at NordVPN.

    These countries rank in the top three for internet privacy and cybersecurity awareness:

    Singapore (62/100)
    Finland and Lithuania (61/100)
    Germany and the United States (60/100)

    Compared to 2023, less people understand the security benefits of updating apps

    The results of the test showed that people globally are also good at dealing with suspicious streaming service offers (95%), and they know which permissions to grant to different apps (91%).

    On the other hand, people globally also did not know what data ISPs collect as part of the metadata (13%), or how to secure their home Wi-Fi network (16%), most likely considering it safe by default.

    Among all respondents, 1% are Cyber Wanderers (barely know anything about internet privacy and cybersecurity), while the biggest proportion (66%) scored 50-74 points and were identified as Cyber Adventurers.

    Compared to 2023, less people understand the security benefits of updating apps as soon as the update is available. While in 2023, 69% said they update an app as soon as an update is available, this year, it’s 56%.

    Steps to increase online security and privacy

    Marijus Briedis from NordVPN shares a series of steps people can take to enhance their online privacy and security:

    Create unique and strong passwords. Use unique and robust passwords for each of your online accounts.
    Enable multi-factor authentication (MFA). Strengthen your account security by enabling multi-factor authentication.
    Keep your software up to date. Regularly update your software, operating systems, and applications.
    Use a virtual private network (VPN). Always use a VPN to encrypt your internet connection, safeguarding your personal information from potential eavesdroppers.
    Review privacy settings. Regularly review and adjust privacy settings on social media platforms, mobile apps, and other online services.

    Methodology can be found here: https://nordvpn.com/blog/national-privacy-test-us-2024/

    ABOUT NORDVPN

    NordVPN is the world’s most advanced VPN service provider, chosen by millions of internet users worldwide. The service offers features such as dedicated IP, Double VPN, and Onion Over VPN servers, which help to boost your online privacy with zero tracking. One of NordVPN’s key features is Threat Protection Pro, a tool that blocks malicious websites, trackers, and ads and scans downloads for malware. The latest creation of Nord Security, NordVPN’s parent company, is Saily — a global eSIM service. NordVPN is known for being user friendly and can offer some of the best prices on the market. This VPN provider has over 6,400 servers covering 111 countries worldwide. For more information, visit  https://nordvpn.com.

    MIL OSI – Submitted News –

    September 29, 2024
  • MIL-OSI Submissions: Energy Sector – Reducing emissions from the Troll field – Equinor

    Source: Equinor

    On Saturday, 7 September, Troll B and C became partly powered from shore. This reduces annual emissions from the Norwegian continental shelf (NCS) by 250,000 tonnes of CO2.

    This is in line with the plan for development and operation (PDO) for Troll West electrification (TWEL), which was approved by Norwegian authorities in 2021.

    “Troll B and C electrification marks an important milestone in the efforts to halve the emissions from our operations by 2030. The project reduces CO2 emissions by the equivalent of those from 125,000 fossil-fuelled cars,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

    The power to Troll B and C comes from Kollsnes, northwest of Bergen. From here it runs through a new electro building shared by the Troll and Oseberg fields out to Troll B in a 132 kV power cable, and from there to Troll C.

    The project has installed new modules on Troll B and C that adjust the voltage to the systems on board. The processing systems and other energy-intensive systems on both platforms are now driven by electricity, except for the large export compressors, which are still gas-powered.

    “Troll West electrification has generated substantial business activity for Norwegian suppliers. Over 70 percent of the investments in the project have gone to companies in Norway. I am very pleased that we, along with our partners and suppliers, have succeeded in executing the project in a safe and effective manner,” Tungesvik says.

    The CO2 reduction is equivalent to about half a percent of Norway’s total annual emissions. NOx emissions from the field are also reduced by around 850 tonnes per year. Gas burned in turbines to provide energy on the platforms can now be exported and more efficiently used in Europe.

    “We have made several new discoveries in the Troll and Fram area in recent years. Thanks to Troll B and C electrification we can develop and produce these resources with very low emissions. The Troll area will continue to deliver large volumes of low-carbon, high-value energy for many years to come,” says Kjetil Hove, Equinor’s executive vice president for Exploration & Production Norway.

    The TWEL project is continuing to fully electrify the Troll C platform so that all power needs are met with electricity from land. The measure will cut annual emissions by another 200,000 tonnes of CO2. Overall, this will help cut almost four percent of the total emissions from oil and gas production, around one percent of total emissions in Norway.

    Infrastructure at Kollsnes and the cable to the platform are designed for a possible future full electrification also of Troll B.

    The Troll A platform (Troll East) was the first platform to be powered from shore on the NCS, and has been electrified since start-up in 1996.

    Facts

    The licensees in Troll Unit are Equinor 30.6% (operator), Petoro 56%, A/S Norske Shell 8.1%, TotalEnergies 3.7% and ConocoPhillips Skandinavia AS 1.6%.

    Aker Solutions AS has built three electro modules at its Stord yard and been responsible for the procurement and installation of all electrical equipment in the modules and in the new electro building at Kollsnes.

    In addition, Aker Solutions has been responsible for all modification work on Troll B and C and all hook-up to existing operating systems both offshore and at Kollsnes.

    Heavy lifts of modules were performed by Heerema.
    For the Kollsnes sub-project, the main supplier is Skanska Norge AS, responsible for constructing the transformer substation and landfall area.
    Total investments in the project are NOK 8.1 billion.
    Aker Solutions’ contract is worth about NOK 2.9 billion, generating about 1000 person-years (FTE) of employment.
    The module fabrication took place at the Stord yard. Aker Solutions estimates that 4000 people were involved in the work.
    NKT has been responsible for the production and installation of the power cable. NKT’s contract is worth NOK 1 billion. The cable production was carried out at NKT’s facility in Karlskrona, Sweden.
    Skanska Norge AS’s contract is worth around NOK 370 million and generated about 100 person-years of work (FTE) for Skanska and sub-contractors in the project period.
    The power demand for Troll B and C will be up to 116 MW after full electrification of Troll C.

    MIL OSI – Submitted News –

    September 29, 2024
  • MIL-OSI Global: Gangs’stories: Marwan, or how to find redemption in Cape Town

    Source: The Conversation – France – By Steffen Bo Jensen, Professor, Department of Politics and Society, Aalborg University

    For the past five years, the GANGS project, a European Research Council-funded project led by Dennis Rodgers, has been studying global gang dynamics in a comparative perspective. When understood in a nuanced manner that goes beyond the usual stereotypes and Manichean representations, gangs and gangsters arguably constitute fundamental lenses through which to think about and understand the world we live in.

    Steffen Jensen recounts the story of Marwan, whose life is in many ways a reflection of the last 75 years of South African history, having had to navigate the violence of apartheid, prison, the Cape Flat drug wars. Central to his narrative are the notions of damnation and redemption.


    I picked up Marwan one cloudy morning in May 2019, from his house in the backstreets of Heideveld, the township Cape Town, South Africa, where I have been conducting fieldwork on gangs on and off for 25 years. While much has changed over the years, the gang scene in Cape Town remains depressingly violent. In one of the other townships where I have been doing fieldwork since 2018, more than 160 have died in the past year. Gangs exist in almost all townships and partly for this reason, Cape Town remains one of the most violent and deadly cities in the world.

    Sixty-year-old Marwan exudes strength as he walks over to my car, and greets me in his light blue Islamic attire. Although not particularly tall, he is well built in a wiry way, and there is an embodied intensity to him that contrasts with his soft-spokenness.

    We are in the middle of Ramadan, and he tells me that he is happy to see me, although he is also very busy, preparing for a wedding with his new, much younger partner, as well as 10 days of prayer in the local mosque.

    We decide to talk in a nearby park, where we begin what will end up being an eight-hour interview. During this time, Marwan leads me through his life in a way that is entirely his own choosing: “It was a Tuesday… I remember it well. I was wearing an orange jacket…”

    A microcosm of South Africa’s recent history

    Marwan’s life is in many ways a microcosm of South Africa’s recent history. It was fundamentally shaped by apartheid, particularly through the introduction of racist laws and policies, which included the displacement of non-white populations from central Cape Town to council housing estates on the outskirts, known as the Cape Flats. It was then also influenced by the instability of the post-apartheid era, characterised by high levels of crime and violence.

    His family was one of the tens of thousands displaced from the Cape Town city centre in the 1960s, leading Marwan to grow up in the difficult environment of the Cape Flats. At the age of 16, in the mid-1970s, he began dealing drugs, quickly acquiring a notorious reputation, allowing him to operate semi-independently of the local gangs.

    Marwan’s story exemplifies how drug dealing has critically impacted local gang structures. Before the mid-1970s, drugs did not play an important role in gang formation. They were mostly self-defence gangs protecting neighbourhoods against the hostile environment of the new housing estates. However, when the Mandrax drug was introduced around 1975, it radically transformed the nature of the gangs and their use of violence.

    Life with the Terrible Joosters

    Marwan joined one of the local gangs in Heideveld, the Terrible Joosters, and began dealing drugs. While the local gang in Heideveld gained in importance, he started making a name for himself as a robie, someone that focuses on robberies and break-ins. He excelled and joined city-wide criminal networks outside Heideveld, located in neighbouring Bridge Town, where the American gang became increasingly dominant. It was the conflict with the Americans that was partly instrumental in sending him to jail. In the interview, he describes a year of madness that began with his shooting a police officer. It then descended into increased drug abuse and gang violence, including shooting a member of the same criminal network, because, he said, the man had sold them out to the Americans. As a result, in 1982, Marwan received a long prison sentence.

    Marwan is no stranger to prisons. He had been in and out of them since his late teens, but this was his longest sentence. Like his involvement with drugs before, his prison trajectory reflected the changing nature of Cape Town’s gang dynamics.

    The relationship between prison gangs and street gangs has been complicated since the emergence of both in the 1940s. Prisons in South Africa are partly controlled by an intricate gang system with its own belief structure, which includes a perceived resistance to apartheid and racist regimes. The system also enforces control through the so-called numbers, referring to the three main gangs, 26, 27 and 28.

    The numbers represent distinct gangs, each with a specific role within the prison hierarchy. This hierarchy is enforced through strict codes and significant violence against each other, guards, and non-gang members. Through his connections with gang-affiliated individuals and drug dealers both inside and outside the prison, Marwan quickly joined the 26 gang and rose through the ranks to become one of its leaders.

    Gangsters often have a sell-by date

    After Marwan left prison in 1998, his life became intertwined with the Cape Flats “gang wars” of the late 1990s and early 2000s. This city-wide war, involving his old enemies in the Americans, was much more brutal than the ones he had fought earlier on. He was horrified.

    He complained about the stupidity of the youngsters: “If they get a name, they are a gang and they will die”, he told me back in 1999. There is a generational dimension to this. Most gangs last about 10 years. The gangs Marwan saw in the late 1990s were descendants – often sons – of the gangsters of Marwan’s generation.

    Many gangsters face an inevitable expiration date, often ending up dead, imprisoned, or suffering from serious health issues due to a life of violence, hardship, and drug abuse. However, some do manage to successfully leave behind the world of gangs and crime.

    In his mid-40s, increasingly burned out, Marwan underwent a religious conversion that allowed him to “leave” his criminal life behind.

    Marwan’s life story is both a violent and strangely moral tale of comradery, solidarity, justice and of outwitting the racist apartheid state under the most arduous circumstances. Though not necessarily representative, it provides a privileged view into the Capetonian underworld and how it animated and was animated by political structures.

    How I became a gang war chronicler

    Our meeting in 2019 reminded me of my first encounter with Marwan, 20 years before, in December 1998.

    He had just been released from prison after serving a 19-year sentence for multiple charges, including robbery, violence, drug dealing, and shooting a police officer. He was the brother-in-law of my best friend and confidante in Cape Town, Shahiedah.

    I was conducting my doctoral fieldwork on gang dynamics, and over the following months, as the ongoing gang wars in the Cape Flats escalated, Marwan assumed a somewhat distant yet pivotal role as a guardian, helping me navigate the violent and unpredictable ganglands of post-apartheid Cape Town.

    I once told Marwan that I planned to interview members of their rival gang, the Americans. Marwan – and nearly all of my other contacts – lived in New Yorker territory. The war between the New Yorkers and the Americans was a local manifestation of a larger conflict over control of the drug market in a city going through a huge turmoil: transitioning from a closed environment due to strict apartheid to opening up post-1994.

    The transition produced a volatile environment in which the transforming state struggled to find its feet, not least because of the wave of crime and violence. Murder rates soared and bombings became the order of the day. Seared in my memory was a Cape Argus newspaper article published on January 2, 1999, which quantified both the violence and the police’s impotence in the previous year: 668 attacks, 118 arrests, 0 convictions.

    This created an atmosphere of fear and unpredictability.

    Marwan had heard about my upcoming interview through the local rumour machine. He looked at me, and said gravely, without any context or explanation: ‘In a conflict like this, you cannot stay neutral. Everybody must choose sides’. ‘You too?’, I asked. ‘Also me. Everyone!’.

    What I understood was that I wouldn’t be able to offer a “neutral” narrative, I had to tell the story from the perspective of one gang. That day, I became a chronicler of the war from the (ultimately losing) side of the New Yorker gang…

    A story of redemption

    Although we chatted regularly in his house, I never managed to formally interview Marwan when I was in Cape Town in 1998-99. He was always on his way somewhere – to the shops, the doctor, his mother or he simply stood me up. I saw him from time to time during subsequent visits in the 2000s and 2010s, but only to greet him and see how he was doing.

    Hence, when I returned to South Africa in 2019 in the context of the GANGS project, I was determined to not let him escape me this time, and get him to open up about his life.

    And what a storyteller he was. But beyond the rich content of his tale and the wider insights it offered about gang dynamics in Cape Town, I was most struck by Marwan’s ability to maintain complete control over his narrative.

    He would often chide me whenever I tried to hurry his story along, especially when he got caught up in small details or when I wanted him to move on to a new event. “I want to tell it right,” he would say. “Wait, I’ll get to that when the time is right.”

    At one point, he described a court case he was involved in, after being accused of shooting a policeman:

    “You can have the best lawyer or the best advocate, but it’s what you say and the answers you give that makes you guilty or not guilty. That’s the main thing. How you tell your story. What I thought, what I was going through in my mind – everything you describe, so the judge can see your picture. A story without a picture is not the truth.”

    What insight, I thought. And in many ways, his constant production of images applied to the entire story that he told me. The way that Marwan told his story was as a narrative of redemption and salvation. The critical turning point in his story was how, a few years after having been released from prison, he had planned a heist with some friends, but suddenly refused to carry it out.

    “They [came by] and wanted to confirm the time we were going. I said, ‘You know what, I’ve changed my mind.’ ‘What do you mean you changed your mind?’ ‘No, I changed my mind. You two can go. But I am not going.’ ‘Why?’ I said, ‘There is no reason, but I just feel I am not going anymore.’ And they left. And I’ve never saw them again.”

    Marwan was convinced that his last-minute change of heart saved his life, as both friends ended up dead over the next couple of months. One was found hanged and the other was found in the trunk of a burnt-out car. For Marwan, even if he did not realise it at the time, felt that he had been “warned by Allah” not to go. This marked Marwan’s turn toward religion. He finally accepted Allah into his heart, and turned his life around, leaving his gang years behind.

    While I learned from interviews with his family that Marwan’s decision to leave behind a life of crime was only partially true – he continued dealing drugs and was involved in some gruesome acts of violence – he presented his moment of religious conversion as the pivotal point in his life, a moment of redemption. From that point on, his narrative focused on his piety and the long hours he spent at the mosque, portraying himself as a growingly accepted, though still somewhat suspicious, member of the Muslim community.

    Strong bones

    Do Marwan’s relapses into crime suggest that his narrative of redemption was false, and that he was merely manipulating me? It’s possible. This is always a consideration in interviews like these, particularly given the ambiguous and controversial nature of many of Marwan’s activities over the years. However, instead of viewing his story as a web of lies and misrepresentations, we might interpret these conflicting incidents as evidence of the co-existence of different moral narratives.

    A key moral concept on the Cape Flats is the notion of “sterk bene” or “strong bones”. According to Elaine Salo, this is the ability to endure humiliations, violence, and the injustices of a racialized society. The term originated in prisons to describe the kind of “hard man” toughness that Marwan projected, even after his religious conversion. This strength is often associated with being a criminal.

    In this context, Marwan’s redemption narrative and his display of “strong bones” can be seen as two culturally intelligible moral frameworks that exist in parallel – and at times in conflict – with one another. Perhaps Marwan would argue that, to survive on the Cape Flats, you need both: redemption and strong bones

    Steffen Bo Jensen is a senior researcher at DIGNITY-Danish Institute Against Torture and a professor at the Department of Politics and Society, Aalborg University in Denmark

    – ref. Gangs’stories: Marwan, or how to find redemption in Cape Town – https://theconversation.com/gangsstories-marwan-or-how-to-find-redemption-in-cape-town-223902

    MIL OSI – Global Reports –

    September 29, 2024
  • MIL-OSI United Nations: Financial Accounts Workshop | UNECE

    Source: United Nations Economic Commission for Europe

    Categories24-7, English, MIL OSI, United Nations, United Nations Economic Commission for Europe

    Post navigation

    Provisional Timetable PDF PDF
    Session 1. New Recommendations in the 2025 SNA pertaining to financial accounts    
    Recommendations in the 2025 SNA pertaining to the financial accounts (IMF) PDF PDF
    Session 2. Use of financial accounts for analytical purposes    
    Use of Financial Account Balance Sheet in the EU (Eurostat) PDF PDF
    Use  of Financial Accounts for Analytical Purposes (Central Bank of The Republic of Türkiye) PDF  
    Use of financial accounts for analytical purposes. Private Sector Debt with a focus on NFCs (National Bank of Belgium) PDF PDF
    Session 3. Issues related to non-financial corporations    
    Analyzing Non-Financial Corporation Using Institutional Sector Accounts (IMF) PDF PDF
    Compilation of Financial Accounts for Non-Financial Corporations (Central Bank of The Republic of Türkiye) PDF PDF
    Financial Accounts in Armenia (Statistical Committee of the Republic of Armenia) PDF PDF
    Non-financial corporations: compilation process in the Belgian financial accounts matrix (National Bank of Belgium) PDF PDF
    Non-financial Corporations (Statistics Iceland) PDF  
    Compilation and Utilisation of the Financial Account of the Non-financial Corporations (NFC) Sector: Experience, Challenges, and Opportunities (Bank Indonesia) PDF  
    Session 4. Issues related to household sector    
    Household Sectors Issues Using Institutional Sector Accounts (IMF) PDF PDF
    The household sector (Statistics Iceland) PDF  
    Recording Crypto Assets in Macroeconomic Statistics (IMF) PDF PDF
    Challenges with Cryptocurrencies in Georgia (National Statistics Office of Georgia) PDF  
    Foreign currency held by Households (National Bank of Moldova) PDF PDF
    Session 5. Issues related to financial instruments and specific transactions    
    Financial instruments (ECB) PDF PDF
    Statistical measurement of illicit financial flows (UNCTAD) PDF  
    Non-financial Corporations equity liabilities (National Bank of Moldova) PDF PDF
    Session 6. Who-to-whom, consistency and balancing    
    Recommendations to improve the Vertical Consistency of EU Sector Accounts (ECB) PDF PDF
    Combining sources and balancing the accounts (ECB) PDF PDF
    Financial Accounts in Kyrgyzstan (National Statistical Committee of the Kyrgyz Republic) PDF PDF
    From-whom-to-whom – practical solution for compiling FA statistics, NBRNM case (National Bank of the Republic of North Macedonia) PDF  
    Who-to-whom, consistency and balancing (Statistics Iceland) PDF PDF
         

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI United Nations: Readout of the Secretary-General’s meeting with H.E. Ms. Ebba Busch, Deputy Prime Minister and Minister for Energy, Business and Industry of Sweden

    Source: United Nations secretary general

    The Secretary-General met with H.E. Ms. Ebba Busch, Deputy Prime Minister and Minister for Energy, Business and Industry of Sweden.

    The Secretary-General and the Deputy Prime Minister exchanged views on the follow-up to the Summit of the Future, including the Global Digital Compact, as well as on climate transition.  They also discussed the war in Ukraine.

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI Europe: Answer to a written question – Rising Russian gas imports undermine European plans to become independent of Russian gas – E-001376/2024(ASW)

    Source: European Parliament

    Russian gas imports did not rise over the period 2022-24. On an annual basis the EU has significantly reduced its imports of Russian gas from ca. 150 billion cubic meters (bcm) before 2021 and the beginning of the gas crisis, to 45 bcm in 2023[1].

    T he EU Energy Platform including its AggregateEU mechanism contributed to the security and diversification of gas supplies to the EU and Energy Community, and increased market transparency[2].

    The expiry of the Russian gas transit agreement through Ukraine at the end of 2024 would contribute further to phasing out Russian fossil fuel dependence by halting imports via Ukraine.

    Demand reduction measures contributed to reducing the gas demand by 18% between August 2022 and May 2024. Unprecedented development of renewables has been achieved. Wind and solar capacity have increased by 36% between 2021 and 2023, saving the equivalent of 24 bcm gas over 2 years .

    The Commission continues to implement the REPowerEU plan[3], including through limited financing to gas projects by the Connecting Europe Facility and the Recovery and Resilience Facility.

    New projects will help diversify supplies, such as the Adriatica Line, Gdansk LNG terminal and Gdańsk-Gustorzyn pipeline, the expansion of Krk LNG Terminal, Romanian Black Sea Gas exploitation or Trans-Balkan pipeline reverse flow, which the Commission has facilitated through the work of the CESEC High-Level Group.

    • [1] To compensate, the EU replaced Russian gas supply with imports from other international suppliers. Norway and the United States became the EU’s largest gas suppliers, representing 34% (47 bcm) and 18% (25 bcm), respectively of EU gas imports in the first five months of 2024, followed by North Africa, Azerbaijan and Qatar.
    • [2] https://energy.ec.europa.eu/topics/energy-security/eu-energy-platform_en
    • [3] https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/repowereu-affordable-secure-and-sustainable-energy-europe_en
    Last updated: 23 September 2024

    MIL OSI Europe News –

    September 29, 2024
  • MIL-OSI Economics: Dispute panel established to review certain tax credits under US Inflation Reduction Act

    Source: World Trade Organization

    DS623: United States — Certain Tax Credits Under the Inflation Reduction Act

    China submitted its second request to establish a panel to determine whether certain tax credits under the United States Inflation Reduction Act (IRA) are in line with WTO rules. The United States said it was not in a position to agree to China’s first request in July, justifying its actions as necessary to combat climate change. China stated that the IRA’s subsidies favour US goods over imports, violating WTO rules prohibiting such discrimination.

    The United States expressed disappointment over China’s decision to pursue a panel request and reiterated that the IRA is its most significant step toward clean energy, aimed at ensuring secure and sustainable supply chains for a global clean energy future.

    The DSB agreed to the establishment of the panel. Argentina, Australia, Brazil, Canada, Colombia, the European Union, Indonesia, Israel, Japan, Korea, Norway, the Russian Federation, Singapore, Switzerland, Thailand, Türkiye, the United Kingdom and Venezuela reserved their third party rights to participate in the panel proceedings.

    DS597: United States – Origin Marking Requirement (Hong Kong, China)

    For the 12th time, the United States raised the matter of the panel ruling in DS597 at a DSB meeting. The US said it was raising the matter again as a result of recent developments in Hong Kong, China regarding free speech and human rights. The US referred back to its previous statements regarding its position on essential security and its reasons for placing this item on the DSB agenda.

    Hong Kong, China criticized the US for once again raising this matter at the DSB. It referred to previous WTO panels that dismissed US claims that invoking national security in defense of a trade-restrictive measure is entirely self-judging.  Any objections should be heard by the WTO’s Appellate Body, which remains blocked due to the US refusal to allow appointment of new Appellate Body members, said Hong Kong, China.

    China reiterated its firm belief that a restored appeal mechanism is the proper place to address claims of panel error made by the US and rejected in the strongest terms what it said was US interference in the internal affairs of another WTO member.

    Appellate Body appointments

    Speaking on behalf of 130 members, Colombia introduced for the 79th time the group’s proposal to start the selection processes for filling vacancies on the Appellate Body. The extensive number of members submitting the proposal reflects a common interest in the functioning of the Appellate Body and, more generally, in the functioning of the WTO’s dispute settlement system, Colombia said.

    The United States repeated that it does not support the proposed decision to commence the appointment of Appellate Body members as its longstanding concerns with WTO dispute settlement remain unaddressed.

    Twenty members then took the floor to comment. Many of these members referred to their previous statements made on this matter at earlier DSB meetings and underlined the urgent need to meet the mandates set out at the 12th and 13th Ministerial Conferences in 2022 and early 2024 respectively to conduct discussions with the view to having a fully and well-functioning dispute settlement system accessible to all members by 2024.

    Several members welcomed the progress being made in the formal dispute settlement reform process now underway and the need to accelerate discussions to achieve the 2024 goal.

    Colombia, speaking on behalf of the 130 members, said it regretted that for the 79th occasion members have not been able to launch the selection processes. Ongoing conversations about reform of the dispute settlement system should not prevent the Appellate Body from continuing to operate fully, and members shall comply with their obligation under the DSU to fill the vacancies as they arise, Colombia said for the group.

    The DSB chair, Ambassador Saqer Abdullah Almoqbel (Saudi Arabia), concluded by expressing his full support for the facilitator in the dispute settlement reform discussions, Ambassador Usha Dwarka-Canabady of Mauritius, in her efforts towards achieving a positive outcome within the mandated time frame.

    Other business

    Surveillance of implementation

    The United States presented status reports with regard to DS184, “US — Anti-Dumping Measures on Certain Hot-Rolled Steel Products from Japan”,  DS160, “United States — Section 110(5) of US Copyright Act”, DS464, “United States — Anti-Dumping and Countervailing Measures on Large Residential Washers from Korea”, and DS471, “United States — Certain Methodologies and their Application to Anti-Dumping Proceedings Involving China.”

    The European Union presented a status report with regard to DS291, “EC — Measures Affecting the Approval and Marketing of Biotech Products.”

    Indonesia presented its status reports in DS477 and DS478, “Indonesia — Importation of Horticultural Products, Animals and Animal Products.” 

    Next meeting

    The next regular DSB meeting will take place on 28 October.

    Share

    MIL OSI Economics –

    September 29, 2024
  • MIL-OSI United Nations: Readout of the Secretary-General’s meeting with H.E. Mr. Jonas Gahr Støre, Prime Minister of Norway

    Source: United Nations secretary general

    The Secretary-General met with H.E. Mr. Jonas Gahr Støre, Prime Minister of Norway. The Secretary-General and the Prime Minister discussed the Summit of the Future, the climate action agenda and the International Financial Architecture. They also discussed the situation in the Middle East.

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI USA: Representative Doggett and Senator Warren Lead Members Urging Biden Administration to Lower Price of Popular Weight-Loss Drugs

    Source: United States House of Representatives – Congressman Lloyd Doggett (D-TX)

    Contact: Alexis.Torres@mail.house.gov

    Washington, D.C.—Today, U.S. Representative Lloyd Doggett (D-TX-37) and U.S. Senator Elizabeth Warren (D-Mass.) led an effort to urge the Biden Administration to improve American health and well-being by lowering the cost of vital weight-loss drugs. Specifically, the members are calling for Health and Human Services (HHS) Secretary Xavier Becerra to use existing legal authority to issue generic licenses for semaglutide, a prescription drug commonly used to treat obesity and diabetes and is sold under the brand names of Ozempic and Wegovy. Similarly, a coalition of more than 20 organizations has also called on Secretary Becerra to take such action.

    “With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost,” the members wrote. “One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year. Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments.” 

    “Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices.  Yet, time and again, this is debunked,” the members continued. “In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade.  Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).

    Under Section 1498, a more than a century-old statutory authority, the Biden Administration may lower prices by permitting generic competitors to license patented inventions in exchange for reasonable compensation to the brand-name manufacturer. By exercising this existing authority, HHS could help stabilize the health care market while meeting high consumer demands at more affordable prices.

    Additional signers include Senator Jeff Merkley (D-OR) and Representatives Eleanor Holmes Norton (D-DC), Sheila Cherfilus-McCormick (FL-20), Ro Khanna (CA-17), Pramila Jayapal (WA-07), Cori Bush (MO-01), Mark Pocan (WI-02), Jan Schakowsky (IL-09), Rashida Tlaib (MI-12), Mark Takano (CA-39), Rosa DeLauro (CT-03), Greg Casar (TX-35) and Barbara Lee (CA-12).  

    The letter in full can be found here and below. 

    Dear Secretary Becerra:  

    We write to strongly urge you to use your existing legal authority under 28 U.S.C. § 1498 to protect the public’s health and safety to ensure reasonable prices on semaglutide, a prescription drug sold under the brand names of Ozempic and Wegovy and commonly used to treat diabetes and obesity.  By utilizing your competitive licensing authority to permit generic competitors to Wegovy and Ozempic, you can stabilize supplies at a time of enormous demand and lower outrageous prices that have severely limited access to these life-changing drugs.  

    Approximately 38 million, or one in ten, Americans has diabetes, and an additional 100 million American adults have prediabetes. Nearly one-third of adults are overweight and 42% are obese.  Diabetes and obesity are associated with heart disease, stroke, kidney disease, and more.  Yet, the federal government has failed to restrain Big Pharma price gouging to ensure patients can afford the newest treatments.   

    With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost.  One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year.  Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments. 

    Due to budget-busting prices, only 16 states offer state employee or Medicaid coverage for these drugs.  About 34% of employer plans offer coverage and only about 1% of Affordable Care Act (ACA) Marketplace plans do the same.  Put another way, 99% of consumers with Marketplace plans have no access to these drugs, while 66% of workers with private employer plans and 68% of state employees and Medicaid recipients are denied access.  The few insurers that offer coverage for Ozempic and Wegovy often include several restrictions to limit the financial impact.  For example, the Department of Veterans Affairs requires patients with diabetes to try and fail with two or more medications before the VA will cover Ozempic.    

    We do not condemn the states and insurers that have limited access to these drugs under such difficult circumstances.  It would be irresponsible to offer unlimited coverage when prices are also unlimited.  The North Carolina State Health Plan ended coverage after spending $100 million in a single year on these drugs—spending that would have required insurance premiums to double to offset the cost. If half of all Americans with obesity could access these drugs, it would cost an estimated $411 billion a year, more than all existing prescription drug spending in the U.S. 

    We do not need to waste taxpayer dollars, bankrupt health systems, or deny patients access to effective treatments.  We can save consumers’ health and be fiscally responsible by stopping Big Pharma monopoly abuse.  These drugs cost Americans up to 15 times more than patients in peer countries like Canada, Japan, Germany, the UK, and Denmark. There is no reason for Americans to pay the world’s highest prices, substantially more than other wealthy Nations, for the exact same medicines.  

    Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices.  Yet, time and again, this is debunked.  In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade. Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).   

    The exorbitant prices paid by Americans are financing corporate greed, not innovation.  While we recognize the important role of the private sector in research and development and support the ability to make a reasonable profit, industry interests should not outweigh meeting health and safety needs for all consumers and providing accountability to taxpayers.  When manufacturers use their monopoly power to extract unfair and unjustified prices at the expense of consumers, the federal government must restrain such abuse.   

    Under Section 1498, the Administration has the clear authority to license generic competition on any patented invention “used or manufactured by or for the United States.”  Rightly, patentholders are entitled to reasonable compensation set by the U.S. Court of Federal Claims.  This law ensures Americans may access important goods while protecting the rights of inventors and providing fair compensation.  For over a century, this authority has been used across technologies, ranging from fraud detection banking software and electronic passports to methods of removing hazardous waste.  Section 1498 has also been used to authorize generic, lower cost drugs, and just the threat of this authority, has incentivized brand-name manufacturers to voluntarily cut prices.   

    You have the opportunity and responsibility to dramatically improve health care access and achieve substantial taxpayer savings by using Section 1498 to authorize generic competitors to Ozempic and Wegovy.  We strongly urge you to use your clear statutory authority and stand ready to assist in your efforts to deliver long overdue relief to American taxpayers and consumers. 

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI United Nations: Committee on Enforced Disappearances Opens Twenty-Seventh Session

    Source: United Nations – Geneva

    Hears that Enforced Disappearances Are on the Increase as a Result of National and International Conflicts and Growing Polarisation Within and Between Countries

    The Committee on Enforced Disappearances this morning opened its twenty-seventh session, during which it will examine the reports of Morocco, Norway and Ukraine on their implementation of the provisions of the International Convention on the Protection of All Persons from Enforced Disappearance.

    Opening the session, Mahamane Cisse-Gouro, Director, Human Rights Council and Treaty Mechanisms Division, Office of the United Nations High Commissioner for Human Rights, and Representative of the Secretary-General, said the Committee’s agenda deserved the world’s full attention at a time when enforced disappearances were on the increase as a result of national and international conflicts, and growing polarisation within and between countries.  In times like these, the vital role of human rights mechanisms to protect and promote human rights became even more obvious.

    Mr. Cisse-Gouro welcomed that, since the last session, Thailand, South Africa, Côte d’Ivoire and Bangladesh became parties to the Convention, which now had 76 States parties.  He expressed hope that the World Congress on Enforced Disappearances, which would be held in Geneva, Switzerland on 15 and 16 January 2025, would contribute to efforts to achieve universal ratification.

    He also said he was pleased that, since the beginning of the Committee’s urgent action procedure, 512 urgent actions had been closed following the location of the disappeared person, including 15 since the last session.  Out of the 512 located persons, it was particularly heartening that 408 were located alive.

    Olivier de Frouville, Committee Chairperson, in his opening statement, said the session was opening in a context that was worrying for the future.  Conflicts of all kinds were multiplying and claiming thousands of victims on all continents.  In this context, the practice of enforced disappearances, far from receding, was spreading throughout the world.

    Mr. de Frouville said there could be no human rights without an effective rights protection system, but the treaty bodies system was dramatically under-resourced.  The Committee was therefore pleased by the adoption yesterday of the Pact for the Future by the General Assembly.  The Pact instructed the Secretary-General “to assess the need to provide the human rights protection mechanisms of the United Nations system, including the Office of the High Commissioner, with adequate, predictable, increased and sustainable funding to enable them to carry out their mandates efficiently and effectively.”

    Mr. de Frouville concluded by expressing solidarity with the victims of enforced disappearances, including the disappeared, their families and loved ones, who, day after day, suffered the torture of not knowing what had become of the victims.

    During the meeting, Shui-Meng Ng, the wife of Sombath Somphone, a victim of enforced disappearance in Lao People’s Democratic Republic, recounted her husband’s disappearance and her subsequent efforts seeking truth, justice and reparation. 

    Committee Expert Barbara Lochbihler provided the Committee’s response to Ms. Ng’s statement, thanking her for sharing her story and presenting actions undertaken and planned by the Committee concerning Mr. Somphone’s case and the broader fight against enforced disappearances.

    Before closing the meeting, the Committee adopted its agenda for the session.

    All the documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Webcasts of the meetings of the session can be found here, and meetings summaries can be found here.

    The Committee will next meet in public at 3 p.m. this afternoon, Monday, 23 September, to consider the initial report of Ukraine (CED/C/UKR/1). 

    Statements

    MAHAMANE CISSE-GOURO, Director, Human Rights Council and Treaty Mechanisms Division, Office of the United Nations High Commissioner for Human Rights, and Representative of the Secretary-General, said the Committee’s agenda was as busy as ever and deserved the world’s full attention at a time when, sadly, enforced disappearances were on the increase as a result of national and international conflicts, and growing polarisation within and between countries. 

    There were multiple crises affecting the globe today.  In times like these, the vital role of human rights mechanisms to protect and promote human rights became even more obvious.  They communicated to States their human rights records and recommended ways to rectify what had gone wrong, bring justice to victims, and adopt measures to protect human rights and prevent their violation.  Mr. Cisse-Gouro said human rights were regulators and correctors of power dynamics gone awry. International cooperation, grounded in human rights, was the channel all had to effect change and to address the massive challenges of the time. 

    The work of the treaty bodies, including this Committee, was key to make this a reality.  The guidance and recommendations they provided, and the ongoing interaction they had with States, victims, civil society organizations, and national human rights institutions through the different mandated procedures, helped to identify ways to prevent and address human rights violations.

    In times like these, the human rights mechanisms benefitted from increased synergy and mutual reinforcement. Mr. Cisse-Gouro noted with pleasure that reference was made to the Committee’s general comment on enforced disappearances in the context of migration in the report of the Human Rights Council’s intersessional panel discussion on the human rights of migrants. This was an excellent example of mutual reinforcement.

    The Committee had continued to promote mutual reinforcement in all its activities.  Since the last session in February, it had responded positively to more than 15 requests for training and consultations submitted by States and civil society actors around the world to promote the ratification and implementation of the Convention. 

    On 30 August, the International Day of the Victims of Enforced Disappearances, the Committee issued a joint statement with the Working Group on Enforced or Involuntary Disappearances, the Inter-American Commission on Human Rights, the African Commission on Human and Peoples’ Rights, the Council of Europe Commissioner for Human Rights, and the representatives of Indonesia and Thailand to the Intergovernmental Commission on Human Rights of the Association of Southeast Asian Nations. In this statement, the Committee urged all actors to immediately join forces to support victims of enforced disappearances and ensure that their rights and obligations, as codified in regional and international treaties, became a reality for all.  The Committee called on actors to take part in the World Congress on Enforced Disappearances, which would be held in Geneva, Switzerland on 15 and 16 January 2025. 

    On the same occasion, the High Commissioner for Human Rights said that there was no justification for enforced disappearances.  Yet, every day, this heinous crime continued to silence and destroy lives.  The World Congress in January 2025 was an opportunity to establish a strategy and network so that the world could finally end this tool of terror.  Bringing together experts, victims, States and other key actors in the context of this first World Congress on Enforced Disappearances to share their experiences and good practices, and to establish a common strategy to promote the ratification of the Convention and its implementation, was indeed a unique opportunity that needed to be fully seized.

    In times like these, it was particularly welcome that, since the last session, Thailand, South Africa, Côte d’Ivoire and Bangladesh became parties to the Convention, which now had 76 States parties.  The Office celebrated these ratifications, while continuing its efforts to achieve universal ratification.  It hoped that the World Congress would contribute to reaching this objective. 

    The Office of the High Commissioner continued to actively support efforts to strengthen the treaty body system, which was the key topic at the thirty-sixth annual meeting of the treaty body Chairpersons in New York in June 2024.  The Chairpersons met with the Secretary-General and other senior United Nations officials, civil society and Member States.  The Chairs made marked progress in terms of aligning working methods, and they advocated together for enlarged support for the implementation of the treaty body strengthening process.  At a well-attended meeting with Member States, the Chairs called for resources to implement the predictable review schedule and other key strengthening proposals.

    A heavy programme for the next two weeks was before the Committee.  It would examine three States parties under the Convention: Ukraine, Morocco and Norway. It would also adopt lists of issues and lists of themes for Belgium, Lesotho, Seychelles and Serbia and consider requesting ad hoc additional information. 

    Also before the Committee was the report on urgent actions.  As of today, the Committee had registered a total of 1,893 urgent actions.  Out of these, 1,101 were “living cases” on which the Committee needed to carry out comprehensive follow-up, either individually or in groups.  Mr. Cisse-Gouro said he was particularly pleased that since the beginning of the procedure, 512 urgent actions had been closed following the location of the disappeared person, including 15 since the last session.  Out of the 512 located persons since the beginning of the implementation of the procedure, it was particularly heartening that 408 of them were located alive.  The Committee would also examine one individual complaint, and further discuss projects related to short-term enforced disappearances and to women and enforced disappearances. 

    Mr. Cisse-Gouro recalled the United Nations’ zero tolerance policy on intimidation and reprisals.  The Secretary-General had asked all entities to be vigilant and committed in this area. Civil society and victims provided crucial information and testimony to the treaty bodies and provided contextual information essential to their work.  States needed to ensure adequate protection against any act of intimidation or reprisal against those who cooperated or had cooperated with the United Nations and its mechanisms. 

    Mr. Cisse-Gouro concluded by expressing his support to the Committee and wished it a fruitful and productive session.

    OLIVIER DE FROUVILLE, Chairperson of the Committee on Enforced Disappearances, said the session opened in a context that was worrying for the future. Conflicts of all kinds were multiplying and claiming thousands of victims on all continents.  Power politics seemed to be back in international relations more than ever and, within States, merchants of hatred were stirring up mistrust between communities and preparing for tomorrow’s conflicts.  The disastrous consequences of global warming were increasingly being felt, causing natural disasters that were additional factors of instability.

    In this context, the practice of enforced disappearances, far from receding, was spreading throughout the world. Even when enforced disappearance took different forms, the objective always remained the same: to deny the disappeared person any humanity both as a legal person and as a natural person, and to spread terror among those close to them, who suffered the torture of uncertainty, a terror that quickly spread throughout society.  But victims were resilient, as were societies. 

    Experience showed that every time criminals wanted to impose silence and obedience through enforced disappearance, victims’ families assembled in public squares and brandished their photos, asking the simple and fundamental question: “where are they?” Above all, it was women, mothers, sisters, wives who had the courage to call out armed men, because no amount of oppression or extreme violence could make them accept that their loved ones had evaporated into thin air.  Their determination eventually gave rise to a new norm of international law: the complete prohibition of enforced disappearance.  Their struggle had also led to the adoption of the Convention, in which States pledged to take all measures to make this prohibition effective and to eliminate the practice of enforced disappearance.

    It was with a view to fulfilling this promise that several actors joined forces to organise the first World Congress on Enforced Disappearances, which would be held in Geneva on 15 and 16 January 2025.  Mr. de Frouville thanked the High Commissioner Völker Turk for agreeing to be present at the opening session of the Congress, as well as his Office and States that were co-sponsoring the event.  The Congress’ programme and plan of action were the result of a consultation process carried out since March 2024 with States and all other stakeholders, including victims’ associations, civil society organizations. and national human rights institutions.  Mr. de Frouville invited all States, including parties and non-parties to the Convention, and all stakeholders who were willing to commit themselves to acting, even modestly, against enforced disappearance to come to the meetings of the Congress.

    The fight for respect for human rights needed to be based on robust institutions and procedures.  There could be no human rights without an effective rights protection system.  However, the treaty bodies system was dramatically under-resourced; its budget was ridiculous in view of the magnitude of its task.  In 2023, its budget was 459 million United States dollars, of which only 178 million was financed from the United Nations regular budget, forcing the Office of the High Commissioner to find 280 million in extra-budgetary resources.  This sum did not cover all the estimated needs, which would have required an additional 171 million.  This amount seemed ludicrous in view of the major role that the United Nations system played today in defending human rights and helping States and civil society to defend them in a world where they were threatened more than ever.

    The Committee was therefore pleased by the adoption yesterday in New York of the Pact for the Future by the General Assembly.  Among other interesting provisions, Measure 46 of the Pact instructed the Secretary-General “to assess the need to provide the human rights protection mechanisms of the United Nations system, including the Office of the High Commissioner, with adequate, predictable, increased and sustainable funding to enable them to carry out their mandates efficiently and effectively.” 

    This was in line with the call made by the Chairpersons of the treaty bodies at their thirty-sixth meeting held last July in New York.  The Chairs told the Secretary-General and Member States that the treaty bodies needed, before the end of the year, a decisive resolution that would enable them to quickly implement the predictable timetable for the consideration of States’ reports.  The immediate costs associated with this change would in fact represent a saving in the medium and long term, since the change would be accompanied by a longer reporting period of eight years, and economies of scale resulting from better coordination and complementarity between the 10 Committees and the rest of the system.  The Committee Chairs expressed their hope that States would seize this opportunity to strengthen the treaty system decisively.

    A year ago, a conference was held on a joint declaration on illegal intercountry adoptions drafted by the Committee on Enforced Disappearances, the Committee on the Rights of the Child, and several Special Procedures.  The conference was an opportunity to hear from victims from all parts of the world, including adoptees and biological parents searching for their missing children. A documentary about the victims’ story and their quest for the truth would be premiered in Geneva, in parallel with this session, on 1 October 2024 in Auditorium A2 of the Maison de la Paix. The screening would be followed by a debate featuring the victims, who would testify about their experiences.  A short excerpt from the documentary would also be shown at the closing of this session on 4 October.

    Mr. de Frouville concluded by expressing solidarity with the victims of enforced disappearances, including the disappeared, their families and loved ones, who, day after day, suffered the torture of not knowing what had become of the victims.

    SHUI-MENG NG, wife of Sombath Somphone, victim of enforced disappearance in Lao People’s Democratic Republic, said her husband was disappeared in December 2012 in front of a police post, where he was pushed into a white vehicle and taken away.  Everything that happened at the time of the disappearance was recorded by police traffic cameras.  He was a community worker who helped poor farmers to improve their livelihoods.  He also worked with young people to find solutions for themselves and become more resilient, and with local communities to help them prepare and respond to climate change.  Ms. Ng said she did not know why he had been disappeared, but said his work may have annoyed powerful people, who felt he was threatening their interests.

    Ms. Ng did not know if her husband was still alive.  This was the pain that victims of enforced disappearance suffered.  The pain remained with her every day, despite the passing of time.  The fear that he would not come back loomed larger and larger with each day, and the hope that he would return was fading.

    Enforced disappearance was the most criminal violation of human rights.  Ms. Ng called on the Committee and all States to appeal to the Government of Lao People’s Democratic Republic to reveal the truth regarding this enforced disappearance.  Ms. Ng had appealed to the authorities and received no information, with authorities simply stating that the investigation was ongoing.  The hope that she would receive truth and justice was becoming more remote, but she said that she would not give up.  She would continue to raise the case of her husband at every opportunity, seeking news about what happened to him, as well as truth, justice and reparation until her last breath.

    Ms. Ng urged the Committee to not forget the victims and their families.  There were more than 14,000 cases of enforced disappearance before the United Nations.  This was unacceptable in a world where governments claimed to protect their citizens from enforced disappearance.  The Lao People’s Democratic Republic was a signatory to the Convention but had not ratified it.  It nevertheless needed to uphold the spirit of the Convention.  In closing, Ms. Ng appealed for the safe return of her husband.

    BARBARA LOCHBIHLER, Committee Expert, thanked Ms. Ng for sharing the day that changed her life, the struggle that had defined her life ever since, and the pain that remained with her every day.  This case was particular in several respects.  Sombath Somphone was a well-known, dedicated and passionate community worker.  He was honoured with awards beyond his country.  His disappearance did not happen mysteriously in an unknown place but was recorded by police traffic cameras. 

    International non-governmental organizations like Amnesty International and Human Rights Watch had campaigned on his behalf, and international media had reported on the case.  The European Parliament had called for his release, as had parliamentarians from the region.  United Nations bodies, including the Human Rights Committee, had questioned the Lao Government on the issue.  Ms. Ng’s tireless efforts were based on her professional expertise, her profound knowledge of international structures, and her experience in international solidarity networking.  Despite these efforts, Sombath Somphone remained disappeared, his fate and whereabouts still unknown to his family and friends.

    Pain and suffering remained with the victims of enforced disappearance every day despite the passing of time, because with time hope faded.  Ms. Ng and Mr. Somphone’s supporters had been confronted with ignorance, disregard, inaction, negligence and outright lies from authorities.  This was what so many victims of enforced disappearance had to deal with, often exacerbated by reprisals and existential distress.  Mr. Somphone’s case clearly showed that an enforced disappearance had not only serious consequences for victims’ family and friends but also had a chilling effect on the civil society of the given community or country.  After Mr. Somphone’s disappearance, civil society organizations in Lao People’s Democratic Republic were in fear, becoming more careful in their work or even inactive.  This surely pleased those responsible for Mr. Somphone’s disappearance.

    Ms. Ng, as with victims in so many countries, rightly had high expectations of the Committee.  However, the Government of Lao People’s Democratic Republic had signed but not ratified the Convention, so the Committee had no formal means to review the situation in the State or ask for information on particular cases.  Unfortunately, this applied to many countries in Asia, where only a few States had ratified the Convention. 

    The Committee was sincerely committed to change this, intensifying its outreach to governments and the broader human rights movement.  Last year, it had a fruitful meeting with the Association of Southeast Asian Nations’ Intergovernmental Commission on Human Rights. In November, the regional office of the High Commissioner for Human Rights and the Committee would organise several workshops with State and civil society organization representatives in Bangkok, and in January, the World Congress on Enforced Disappearance would gather activists and diplomats, victims and United Nations representatives to discuss ways forward in the fight against enforced disappearances.

    Regrettably, the impact of a United Nations treaty body had its limitations.  Essential for things to change was serious political will by the Government to act.  The Committee would appeal to the Lao Government to demonstrate this political will and would never forget the victims.  Ms. Lochbihler thanked Ms. Ng wholeheartedly for addressing the Committee, congratulating her for her passion and energy, and for not being discouraged by years of ignorance and denial.  She expressed hope that the search for Ms. Ng’s husband would one day bring to light what really happened, as Ms. Ng had the right to know the truth.

     

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

     

     

     

    CED24.006E

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI: Tryg A/S – Q3 2024 pre-silent newsletter

    Source: GlobeNewswire (MIL-OSI)

    Tryg will host pre-close analysts calls and meetings during the week that starts on September 23 ahead of the Q3 2024 results to be published on October 11. Tryg has decided to publish a quarterly newsletter, ahead of the pre-silent period, to remind capital markets participants about the most important items impacting the company’s financial performance. The newsletter is also in alignment with recent ESMA (European Securities and Markets Authority) guidance on the topic.

    • Tryg derives approximately 20% of the revenue from Norway and 30% from Sweden, the average expected NOK/DKK exchange rate is in Q3 2024 around 64.1 (Q3 2023 64.77) while the average expected SEK/DKK exchange rate is around 65.2 (Q3 2023 63.42). The level of the exchange rates is relevant when translating local revenues in Danish kroner, Tryg’s reporting currency.
    • Q3 is the summer/autumn quarter where some 20% of the annual weather claims are expected. As a reminder Tryg expects DKK 800m of annual normalized weather claims split (percentages wise) by quarter as 40%-10%-20%-30%. The definition of weather claims includes “storms and cloudbursts” but it also reflects the seasonality of claims where winter is the most important driver.
    • Large claims are guided also at DKK 800m per annum but without any seasonality, it should therefore be assumed an amount of DKK 200m per quarter.
    • At times information regarding large weather events or large claims may be available in local press, mass media or industry associations websites.
    • Tryg runs a stable business therefore recent trends of underlying performance ought to be taken as a good guidance for short term trends at least, the group underlying claims ratio was 67.5% in Q3 2023
    • The free portfolio of approximately DKK 17bn is the most volatile part of Tryg’s investment result, the return to date (in percentage) of the free portfolio is observable on a daily basis tryg.com. Tryg has disclosed a recurrent component of DKK 90m, related to interest income on premiums provisions, as part of the match portfolio (DKK 44bn of Scandinavian covered bonds) quarterly return. Other financial income and expenses (booked against the investment result) are guided at a normalized quarterly level around DKK -90m as previously written in quarterly reports.
    • Other income and costs in the profit and loss are expected to be on a normalized basis between DKK -350m and DKK -370m primarily driven by intangibles amortization from the Alka and RSA Scandinavia acquisitions.
    • Tryg pays a flat quarterly dividend, the company paid 1.95 per share in Q1 and Q2 in 2024. The solvency ratio movements are primarily driven by operating earnings (earnings adjusted for intangibles amortization) and dividend payment impacting the Own Funds while the SCR (solvency capital requirement) does not move significantly between quarters assuming an unchanged business and investments profile.
    • Following the Q2 2024 results in July no other announcement has been published while investors meetings in Copenhagen, New York, Zurich & London have been or will be attended during the summer quarter.
    • A transcript of the Q2 2024 earnings call from July 11 is available on Tryg.com.
    • Tryg will publish its Q3 results on October 11 at around 7:30 CET and will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen and CTO Mikael Karsten will present the results in brief, followed by a Q&A session. The conference call will be held in English.

    Tryg will publish the Group’s Q3 results for 2024 on 11 October 2024 at around 7:30 CET.

    Conference call

    Tryg will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen, CTO Mikael Kärrsten and SVP Gianandrea Roberti will present the results in brief, followed by a Q&A session.

    The conference call will be held in English.

    Date 11 October 2024
    Time 10:00 CET
     

    Dial-in numbers

    Pin code

    +45 (DK) 78 76 84 90

    +44 (UK) 203 769 6819

    +1 (US) 646 787 0157

    560768

    You can sign up for an e-mail reminder on tryg.com. The conference call will also be broadcasted on this site. An on-demand version will be available shortly after the conference call has ended.

    All Q3 material can be downloaded on tryg.com shortly after the time of release.

    Contact information:

    Attachment

    • Q3 2024 pre silent newsletter

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Virtune AB (Publ) announces its expansion into the Netherlands through the listing of Virtune Staked Solana ETP on Euronext Amsterdam

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, 23rd of September 2024 — Virtune, a Swedish regulated digital asset manager and issuer of crypto Exchange Traded Products (ETPs) based in Stockholm, Sweden, announces its expansion into the Netherlands through the listing of its Virtune Staked Solana ETP on Euronext Amsterdam.

    With strong traction and consistent inflows in the Nordic regions driven by increasing interest and crypto adoption, expanding into the Netherlands is a strategic milestone for Virtune. Virtune has since its inception in May 2023 been growing rapidly in the Nordics where it has listed a total of 12 products and reached more than 31 000 investors in its products in just about one year.

    The key success factors have been an educational focus, a transparent market approach and through its regulated status. This move not only addresses growing investor enthusiasm but also enhances our market presence across Europe.

    Christopher Kock, CEO of Virtune, stated:

    “We are thrilled to expand into the Netherlands with the introduction of our Staked Solana ETP to the Dutch investor community after its successful launch in the Nordic markets. Since our inception in May 2023, we have worked tirelessly to drive crypto adoption through educational efforts in the Nordics and we are excited to extend these efforts to the Dutch financial market. This ETP provides investors with enhanced exposure to Solana, one of the leading and most influential blockchains globally, while also offering additional returns through included staking.”

    About Virtune Staked Solana ETP
    Virtune Staked Solana ETP provides exposure to Solana combined with the benefits of staking. With staking incorporated, the ETP offers an additional annual return of approximately 3% on the investment made in the ETP, while at the same time offering an attractive annual fee of 0.95%.

    Like all of Virtune’s ETPs, Virtune Staked Solana ETP is 100% physically backed and fully collateralized, is denominated in EUR for the Dutch audience and is available on brokerage platforms like Degiro. Virtune uses Coinbase as the crypto custodian where the underlying SOL tokens are being stored with highest institutional grade security in cold-storage. The underlying SOL tokens are being staked directly from cold-storage and the staking rewards are being reflected in the daily price of the ETP.

    Key Product Information:

    Exposure to Solana with approximately 3% annual return through staking
    100% physically backed by SOL
    0.95% annual management fee
    Non-custodial staking

    Virtune Staked Solana ETP:

    Trading Currency: EUR
    First Day of Trading: Tuesday, 17th of September 2024
    Euronext Exchange Ticker: VRTS
    Bloomberg Ticker: VIRSOL
    ISIN: SE0021309754
    Exchanges: Euronext Amsterdam, Euronext Paris, Nasdaq Stockholm

    About Virtune AB (Publ)
    Virtune is a registered financial institution with the Swedish Financial Supervisory Authority (FSA) for trading and managing digital assets and has an approved EU Base Prospectus, renewed with the Swedish FSA on April 5, 2024 which has enabled Virtune’s strategy of listing ETPs on regulated European exchanges. Virtune’s mission is to provide seamless access to crypto assets for both institutional and retail investors through innovative ETPs, transparency, and education.

    Virtune has a wide offering of crypto ETPs that includes Virtune Bitcoin ETP, Virtune Staked Ethereum ETP, Virtune Staked Solana ETP, Virtune Crypto Top 10 Index ETP, Virtune XRP ETP, Virtune Chainlink ETP, Virtune Avalanche ETP, Virtune Staked Polkadot ETP, Virtune Staked Polygon ETP, Virtune Arbitrum ETP and Virtune Staked Cardano ETP.

    About Solana
    Solana is a high-performance blockchain platform designed to offer fast and scalable decentralized application operations and cryptocurrency transactions. By using a unique consensus mechanism known as Proof of History (PoH) along with Proof of Stake (PoS), Solana can handle thousands of transactions per second with low transaction costs, which is a significant improvement over older blockchains like Bitcoin and Ethereum. This combination of technologies not only allows for instant transaction verification but also a significant increase in network throughput without compromising security or decentralization.

    About staking
    Staking enables crypto asset owners to earn passive income by participating in the validation and confirmation of transactions on a blockchain through a process known as Proof of Stake. This mechanism is a fundamental component of Proof of Stake blockchains, like Ethereum and Solana, and plays a vital role in ensuring the security and authenticity of blockchain transactions. To facilitate a transaction on the blockchain securely and accurately, a validator must stake a certain amount of crypto asset as a guarantee of the transaction’s legitimacy.

    The validator aims to stake as much crypto assets as possible to increase the likelihood of receiving rewards, which are paid out in the same type of crypto asset that was staked. For instance, if you stake Solana, you receive additional SOL tokens as a reward. The annual reward percentage for staking can vary and may range from 0-14% or higher for some blockchains. Most crypto asset holders cannot act as validators themselves, as it requires significant amounts of crypto assets. Therefore, many choose to stake their assets through an established and trusted validator. Virtune includes staking rewards in its products that have ‘staked’ included in their names.

    Flow Traders will act as the market maker for the ETP, ensuring that Dutch investors can access the product easily and efficiently during Euronext market hours.

    Stockholm, 23rd of September 2024

    For further inquiries, please contact:
    Christopher Kock, CEO & Member of the Board of Directors
    Email: hello@virtune.com

    About Virtune AB (Publ)
    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges.

    With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Nokia wins 5G deal with Viettel Group in Vietnam

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia wins 5G deal with Viettel Group in Vietnam

    • Nokia to introduce 5G network to Vietnam for first time; including modernizing 4G infrastructure.
    • Nokia to deploy first Vietnamese-made 5G solutions in country.
    • Supports Viettel Group strategy of advancing 5G infrastructure and digital transformation in Vietnam.

    23 September 2024
    Espoo, Finland – Nokia today announced that it has signed a major new deal with Viettel Group (Viettel) to deploy 5G equipment for the first time nationwide in Vietnam. The ambitious project will cover 22 provinces across the country and support Viettel’s strategy of advancing 5G infrastructure and digital transformation. The project will also see Nokia modernize Viettel’s 4G infrastructure. Deployment will begin this year.

    Under the deal, Nokia will supply equipment from its industry-leading 5G AirScale portfolio for the first time in Vietnam covering 2,500 sites. This includes Nokia’s next-generation AirScale baseband solutions, Massive MIMO radios, and Remote Radio Head products. These are all powered by its energy-efficient ReefShark System-on-Chip technology and combine to provide superior coverage and capacity. It marks the first 5G network in Vietnam where the deployed products have also been locally manufactured, highlighting Nokia’s commitment to the region.

    Vietnam’s Ministry of Information and Communications has placed great importance on 5G as a critical national infrastructure that will enable sustained socioeconomic development through science, technology, and innovation. Vietnam’s digital economy is expected to contribute between 20% and 30% of GDP by 2030.

    Mr. Tao Duc Thang, President & CEO at Viettel Group, said: “This important project with our long-term partner Nokia, will play a critical role in advancing Viettel Group’s strategy of deploying 5G infrastructure and driving digital transformation in Vietnam. 5G technology supports the development of national digital infrastructure and a digital service ecosystem, creating opportunities for economic growth and increased productivity.”

    Tommi Uitto, President of Mobile Networks at Nokia, said: “Nokia is proud to be Viettel Group’s principal partner in this critical digital transformation project that will lay the foundations for Vietnam’s future competitiveness. Nokia has been a part of Vietnam’s growth over the past three decades, and this initiative of enhancing local technology production continues to strengthen our bond with the country. Our AirScale portfolio offers premium connectivity, low latency, and reduced power consumption supporting Vietnam’s digital future.”

    Resources and additional information:
    Webpage: Nokia 5G
    Webpage: AirScale Radio Access
    Webpage: MantaRay Network Management

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable, and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

    September 29, 2024
  • MIL-OSI United Nations: Ireland and WFP renew partnership to support self-reliance for refugees and boost food security in Karamoja

    Source: World Food Programme

    KAMPALA – Through a multi-year commitment (2024-2027), the United Nations World Food Programme (WFP) has welcomed a contribution of US$19.6 million (EUR18 million) from the Government of Ireland to support the Government of Uganda to strengthen self-reliance initiatives for refugee communities and to enhance social protection and school feeding in the Karamoja sub-region.

    “Support to Karamoja and refugee communities continues to be an integral part of our strategy in Uganda,” said H.E Kevin Colgan, Ambassador of the Republic of Ireland to Uganda. “This contribution is part of Ireland’s commitment to keeping Karamoja children in school, improving food security and nutrition, strengthening people’s livelihoods, and boosting the local economy. Reaching the furthest behind is core to our international development policy.”

    In Karamoja, this contribution will enable WFP to procure locally-available maize, beans, and vegetable oil for school meals, benefiting 220,000 school children and smallholder farmers, and thereby stimulating local economies. In this hotspot of the climate crisis, WFP will also boost community resilience by restoring degraded land, promote crop diversification and improve post-harvest management. WFP will also support the Government to extend social protection programmes, particularly through the dissemination of early warning information via radio and other channels ahead of climate shocks such as droughts and floods.

    In refugee hosting districts, over 50,000 refugees will be empowered to transition from humanitarian assistance to self-reliance by supporting them to invest in alternative livelihoods so they can sustain their families. WFP is collaborating with the Government of Uganda and other partners to promote income generation for refugees and host communities through farming and other livelihood opportunities to support refugee and host communities in surrounding areas to become food secure. This Self-Reliance Model is funded by the governments of Ireland, Norway and the United Kingdom.

     “We are grateful for the contribution from the Government of Ireland supporting our efforts to encourage self-reliance and reduce the need for humanitarian assistance in Karamoja and in refugee settlements,“ said Abdirahman Meygag, WFP’s Country Director and Representative in Uganda. “By providing life-changing assistance, WFP is creating a pathway to a brighter future for Uganda.” 

    Karamoja faces multiple development and socio-economic challenges. While Uganda is expecting improved crop production in 2024 due to increased rainfall, more than 400,000 people in Karamoja (30 per cent of the population) are projected to face crisis-levels of food insecurity (IPC3+) according to the latest Integrated Food Security Phase Classification analysis (IPC). Similarly, WFP’s April 2024 Post-Distribution Monitoring indicates that 7 in 10 refugee households are still facing severe or moderate food insecurity levels.

    Faced with limited resources and following extensive consultations with refugees and key stakeholders, WFP is prioritising the most vulnerable refugees for food assistance. While building pathways towards self-reliance, WFP continues to support close to 1.4 million out of 1.7 million refugees in Uganda with monthly food and cash assistance.

    Ireland has previously contributed EUR 11.4 million to WFP’s operations in Uganda from 2020 to 2023. 

    #                            #                         #

    The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters, and the impact of climate change. 

    Follow us on Twitter @WFP_Uganda @WFP_Africa

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI USA: Schakowsky, Carson, Jayapal Introduce UNRWA Funding Bill

    Source: United States House of Representatives – Congresswoman Jan Schakowsky (9th District of Illinois)

    WASHINGTON – Today, Representatives Jan Schakowsky (IL-09),  André Carson (IN-07), and Rep. Pramila Jayapal (WA-07) introduced H.R. 9649, the UNRWA Funding Emergency Restoration Act of 2024.This bill will end the congressionally and administratively mandated pause on funding for the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNWRA).

    The United States has historically been one of the largest financial supporters of UNRWA, which serves nearly 6 million Palestinian refugees across the West Bank, East Jerusalem, Syria, Jordan, and Lebanon. In March of this year, the U.S. paused UNRWA funding after the Israeli government alleged that 12 agency employees had direct involvement in Hamas’ October 7 terrorist attack.

    Following the UN’s investigation and proactive commitments made by UNRWA toward complete accountability and reform, all countries except the U.S. have resumed their UNRWA funding, including the European Union, United Kingdom, Canada, Australia, Finland, Germany, Japan, and Sweden.  Approximately 1.9 million people – 9 in 10 Gazans – have been displaced at least once, and an estimated 43,580 are pregnant women. UNRWA has served as the primary humanitarian aid organization operating in Gaza, and without funding, hundreds of thousands of Gaza civilians are left vulnerable. It is estimated that over 1 million Gazans will not have enough food this month, and availability of basic hygiene items has dropped to 15%. In addition to a polio outbreak, Gazans are suffering from malnutrition and treatable diseases due to “systematic dismantling of healthcare”from bombardments on civilians.

    “For decades, the United Nations Relief and Works Agency (UNRWA) has been a lifeline for Palestinians, providing food, clean water, healthcare, shelter, education, and livelihoods. Today, UNRWA remains the backbone of the humanitarian response in Gaza as it endures ongoing war and a dire humanitarian crisis. UNRWA and the United Nations have taken swift and decisive actions to address the concerns raised by the U.S. government when it paused funding in January and our allies have all resumed funding for UNRWA. The U.S. must follow suit and resume funding for this critical humanitarian agency,” said Congresswoman Jan Schakowsky. “I am proud to co-lead the UNRWA Funding Emergency Restoration Act to restore funding to UNRWA and help Gazans get the humanitarian assistance they need at a time of unprecedented crisis.”

    “The scale of this devastating, man-made crisis in Gaza cannot be overstated,” said Congressman André Carson. “Providing humanitarian aid to a starving nation – with funding Congress has appropriated year after year – should not be controversial. I urge my colleagues who care about basic human rights, the rights of pregnant women, and the wellbeing of innocent children to join our bill. UNRWA has taken appropriate and proactive steps towards accountability and transparency, conducting multiple independent reviews that continue to prove the organization is both in compliance and imperative to provide the region with lifesaving assistance.  It’s past time we restore funding and save lives.”

    “UNRWA has played a unique and integral role in supporting the welfare of Palestinian refugees for decades. Their on-the-ground understanding is invaluable to ensure that humanitarian aid makes it to the people who need it most — in the West Bank, East Jerusalem, Syria, Jordan, Lebanon, and critically in this moment in Gaza,” said Congresswoman Pramila Jayapal. “There is no question in my mind that revoking funding for UNRWA will lead to more devastation and loss of life in Gaza. We must ensure that those acting in good faith to save civilian lives are not undermined by a lack of US funding.”

    “J Street is proud to be supporting the UNRWA Emergency Restoration Act of 2024 introduced by Representatives Carson, Jayapal, and Schakowsky. We should restore funding, as all our major allies have, and stop playing politics with Palestinian welfare and Israel’s security,” said J Street President Jeremy Ben-Ami. “As UNRWA’s largest donor and Israel’s key security guarantor, the United States has a special obligation to address this crisis.”

    “Gaza isn’t starving. It’s being starved,” said Hassan El-Tayyab, legislative director for Middle East policy at the Friends Committee on National Legislation. “Over two million Palestinian civilians are enduring a man-made humanitarian catastrophe, with famine and disease spreading due to blocked aid access. Meanwhile, the Biden administration and Congress continue to withhold all U.S. funding for the largest aid operation in Gaza—the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). UNRWA is the backbone of aid delivery in Gaza, ensuring that millions receive desperately needed assistance. Blocking U.S. funding for UNRWA’s critical work is a cruel and unjustified decision that only deepens Gaza’s humanitarian suffering. Congress and the Administration must act swiftly to correct this wrong by supporting the UNRWA Funding Emergency Restoration Act and restoring this urgently needed aid.”

    “Restoring funding to UNRWA is a humanitarian imperative,” said Sharif Aly, President of the International Refugee Assistance Project (IRAP). “For over six decades, the United States has been one of the strongest supporters of UNRWA, which provides lifesaving aid and social services to millions of Palestinian refugees across the Middle East. Those services are desperately needed in Gaza right now, and UNRWA is the only organization with the capacity and expertise necessary to provide them at scale. The United States must uphold its commitment to the human rights of the Palestinian people and pass this legislation to reinstate funding to the humanitarian agency immediately. Failing to do so would lead to further human suffering.”

    “In restoring funding for food, water, shelter, and medical care for Palestine refugees, the UNRWA Restoration Act honors this most basic and inalienable truth — that the people of Palestine are human beings, just like all of us, and all lives are sacred, not just some,” said Mara Kronenfeld, Executive Director UNRWA USA.

    “UNRWA is indispensable to providing Palestinians in Gaza, the West Bank, Lebanon, Jordan, and Syria with the education, healthcare, and other critical services that are key to successful, productive livelihoods and citizenry, and a future of peace and prosperity, which should be in everyone’s interests. We support full restoration of funding to UNRWA,” said Sean Carroll, President and CEO of Anera.

    “We express our gratitude to Representatives André Carson, Pramila Jayapal, and Jan Schakowsky for introducing the UNRWA Emergency Restoration Act of 2024,” said James Zogby, President of the Arab American Institute. “This lifesaving legislation aims to restore critical U.S. financial support to the United Nations Relief and Works Agency (UNRWA) by repealing previous funding restrictions and encouraging the Secretary of State to lift the temporary pause on federal funding. UNRWA plays a vital role in providing essential services to millions of Palestinian refugees across the Occupied Palestinian Territory, Lebanon, Jordan, and Syria. The ongoing genocide in Gaza has resulted in increased displacement, starvation, and death. It is both inhumane and unconscionable to continue withholding financial support from UNRWA. We recognize that the majority of Americans are horrified by the death and destruction they witness daily in Gaza and the West Bank. UNRWA’s humanitarian aid and services often mean the difference between life and death for these vulnerable populations. Restoring U.S. funding to UNRWA is urgent, just, and the only morally responsible option. We urge lawmakers to prioritize the passage of this crucial legislation and ensure that UNRWA can continue to provide life-saving assistance to Palestinian refugees in the region.”

    ###

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI: Sydbank share buyback programme: transactions in week 38

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 44/2024

    Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk

    23 September 2024  

    Dear Sirs

    Sydbank share buyback programme: transactions in week 38
    On 28 February 2024 Sydbank announced a share buyback programme of DKK 1,200m. The share buyback programme commenced on 4 March 2024 and will be completed by 31 January 2025.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    announcement

    2,080,000

     

    744,958,700.00

    16 September 2024
    17 September 2024
    18 September 2024
    19 September 2024
    20 September 2024
    17,000
    17,000
    17,000
    16,000
    16,000
    332.08
    335.43
    337.90
    342.21
    340.17
    5,645,360.00
    5,702,310.00
    5,744,300.00
    5,475,360.00
    5,442,720.00
    Total over week 38 83,000   28,010,050.00
    Total accumulated during the
    share buyback programme

    2,163,000

     

    772,968,750.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank holds a total of 2,239,691 own shares, equal to til 4.10% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    • SM 44 UK incl. enc

    The MIL Network –

    September 29, 2024
  • MIL-OSI Video: “Future Ours” – Art Exhibition on the SDGs

    Source: United Nations (Video News)

    “Future Ours,” art exhibit for the occasion of the Summit of the Future opened at the UN Headquarters on 20 September.

    On the occasion of the Summit of the Future, the Permanent Mission of Denmark hosts the art exhibition “Future Ours” on the UN Plaza, opening on 20 September. Presented by Art 2030, a non-profit dedicated to harnessing the power of art for the SDGs, the large-scale public art project showcases the perspectives of twenty-one artists and collectives from around the world on how to address current and future global challenges. The exhibition explores how art can reweave a dialogue between social, economic, and ecological equity for the planetary community at large as it confronts passersby to the multifaceted crises impacting our world today and to alternative visions for change. Extending beyond the walls of the United Nations, the “Future Ours” posters are exhibited on hundreds of JCDecaux bus shelters throughout the five New York City boroughs.

    https://www.youtube.com/watch?v=FtyicZmbSC4

    MIL OSI Video –

    September 29, 2024
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