NewzIntel.com

Category: Trade

  • MIL-OSI: Second Well Delineates Heisenberg, Confirms Size of Discovery

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 24 September 2024 – DNO ASA, the Norwegian oil and gas operator, today announced completion of a second well delineating the play-opening 2023 Heisenberg oil and gas discovery in Norwegian North Sea license PL827SB.  Encountering a six-meter oil-filled Eocene sandstone reservoir, the well confirmed the Heisenberg volume estimate of 24 to 56 million barrels of oil equivalent (MMboe) with mean of 37 MMboe.     

    The license partnership, which in addition to DNO Norge AS (49 percent) includes operator Equinor Energy AS, is studying a tieback of Heisenberg to nearby infrastructure, potentially jointly coordinated with the development of other recent discoveries in this highly prolific area surrounding the Troll and Gjøa production hubs. DNO has a strong area position.

    Earlier this year, Cuvette (DNO 20 percent) marked DNO’s eighth discovery in the area since 2021, following Røver Nord, Kveikje, Ofelia, Røver Sør, Heisenberg, Carmen and Kyrre. Discoveries in the Troll-Gjøa area make up the largest share of DNO’s net contingent resources in the North Sea, which stood at 132 million barrels of oil equivalent at yearend 2023.

    DNO continues to be one of the most active explorers in the North Sea. Last week, the Company commenced drilling operations at Falstaff (DNO 50 percent and operator) while Ringand (DNO 20 percent) is expected to be drilled later this fall. In early September, DNO submitted one of the largest applications in the Company’s history for the upcoming APA 2024 licensing round, with awards expected during the first quarter of 2025.

    The Angel exploration prospect, which was the main target of the license PL827SB well, was found to be mainly water wet although the well encountered non-commercial volumes of gas.

    –

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    –

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI Australia: 210-2024: Scheduled Service Disruption: Thursday 26 September 2024 – DAFF messaging, SeaPest

    Source: Australia Government Statements – Agriculture

    24 September 2024

    Who does this notice affect?

    All users of the Seasonal Pests (SeaPest) system.

    All clients submitting the below declarations:

    • Full Import Declaration (FID)
    • Long Form Self Assessed Clearance (LFSAC)
    • Short Form Self Assessed Clearance (SFSAC)
    • Cargo Report Self Assessed Clearance (CRSAC)
    • Cargo Report Personal Effects (PE)

    Information

    Due to scheduled infrastructure maintenance, there will a…

    MIL OSI News –

  • MIL-OSI United Kingdom: New UK-Kenya investment partnership rings in UK trade visit

    Source: United Kingdom – Executive Government & Departments

    Nairobi Securities Exchange launches partnership with UK development investor as UK trade lead visits Nairobi.

    His Majesty’s Trade Commissioner for Kenya, John Humphrey, rings the trading bell alongside (L-R) Dave Portmann of MOBILIST, Frank Mwiti CEO of NSE, Mary Njuguna of FSD Africa, John Humphrey HMTC, Paul Mwai Vice Chairman of NSE, Bansri Pattni of AIB-AXYs, Daniel Warutere of Capital Markets Authority.

    Tuesday 24, September – The Nairobi Securities Exchange (NSE) and UK government programme MOBILIST, have announced a new partnership at a launch event in Nairobi. The launch was attended by His Majesty’s Trade Commissioner for Africa, John Humphrey, at the start of a three-day visit to Kenya.

    The partnership aims to drive the listing of new investment products in the Kenyan market and increase the amount of private sector capital available for development and climate projects in Kenya, and generate growth.

    MOBILIST, an innovative part of the UK Government’s investment partnerships offer, provides investment and technical assistance to help businesses that contribute to the United Nations Sustainable Development Goals (SDGs) to overcome the barriers that keep them from listing on a stock exchange.

    The programme has similar partnerships with several emerging market exchanges, including the Nigerian Exchange and the Johannesburg Stock Exchange (JSE), and will consider applications from eligible Kenyan firms.

    Trade Commissioner Humphrey’s visit to Kenya, which comes after recent trips to Egypt and Ethiopia, will focus on delivering long-term investment projects that support the UK-Kenya Strategic Partnership – an ambitious five-year agreement that is unlocking mutual economic benefits for the UK and Kenya, without loading Kenya with unsustainable debt.

    In Nairobi he will meet the Cabinet Secretary for Investments, Trade and Industry, H.E Salim Mvurya, to drive forward the implementation of flagship UK-Kenya climate projects that support President Ruto’s Africa Green Industrialisation Initiative (AGII). He will also launch the British Business Breakfast Club, to listen to the challenges facing British-Kenyan enterprises.

    Mr Humphrey will also visit Naivasha to meet one of Kenya’s biggest exporters of cut flowers, Flamingo Flowers – a British business that employs 11,000 people in Kenya. They are benefitting from the global suspension of the 8% export tariff for cut flowers entering the UK, an example of the UK supporting markets that matter to Kenya, by removing barriers in areas which aim to have an immediate economic impact.

    His Majesty’s Trade Commissioner for Africa, John Humphrey, said:

    Mobilising investment solutions in Kenya are vital to economic growth as they provide a platform for Kenyan businesses to raise the capital they need to expand their operations, increase cross-border trade, and employ more Kenyans – and at the same tackle climate change and achieve critical development goals.

    Long-term investments that deliver lasting change for the people of both our countries are the cornerstone of the UK-Kenya economic relationship. We go far when we go together – I am delighted to be back in Kenya to deliver our mutually beneficial partnership which is rooted in respect.

    Nairobi Securities Exchange CEO, Frank Mwiti, said:

    The NSE is delighted to partner with the UK government-backed MOBILIST Programme. The strategic partnership between the NSE and MOBILIST aligns with our new strategic focus aimed at enabling the NSE to play a more dynamic role in mobilising and channelling capital to sectors that have the most significant capital needs, with a special focus on sustainable development. As a market, we will continue providing a pivotal intersection connecting capital to investment-grade opportunities in Kenya for sustained economic growth

    MOBILIST Programme Lead at the UK Foreign Commonwealth and Development Office (FCDO), Ross Ferguson, said:

    Public markets in Kenya and other African economies hold great untapped potential to mobilise the private capital the continent urgently needs to gain ground in addressing the SDGs and the severe impact of climate change. MOBILIST is proud to partner with the NSE in building a local capital market that can give the African firms working on these challenges access to the capital they need to grow.

    Notes for editors

    The UK-Kenya Strategic Partnership

    The UK-Kenya strategic partnership joint statement can be found here.

    About MOBILIST

    A flagship UK government programme, MOBILIST supports investment solutions that help deliver the climate transition and the United Nation’s Global Goals in developing economies. MOBILIST focuses on mobilising institutional capital to spur new scalable and replicable financial products. MOBILIST invests capital, delivers technical assistance, conducts research and builds partnerships to catalyse investment in new listed products.  www.mobilistglobal.com

    MOBILIST is a key part of the British Investment Partnerships (BIP) offer. BIP is a UK initiative which brings together the UK’s economic development and investment offer, and combines development finance, capital market mobilisation and export finance with the best of UK technical expertise, and a partnerships approach.

    Updates to this page

    Published 24 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI China: China pledges joint efforts with ASEAN to build closer community with shared future

    Source: China State Council Information Office

    China is willing to work with the Association of Southeast Asian Nations (ASEAN) to deepen practical cooperation and write a new chapter in building a closer China-ASEAN community with a shared future, Chinese Vice Premier Ding Xuexiang said Tuesday.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when addressing the opening ceremony of the 21st China-ASEAN Expo and the China-ASEAN Business and Investment Summit in Nanning, south China’s Guangxi Zhuang Autonomous Region.

    China and ASEAN enjoy a long history of friendly relations and are good neighbors, good friends and good partners, Ding noted, adding that China and ASEAN have always been moving forward hand in hand, which has become the most successful and dynamic model of Asia-Pacific regional cooperation and a vivid example of promoting the building of a community with a shared future for mankind.

    China is advancing its efforts to build a great modern socialist country in all respects and pursue national rejuvenation through a Chinese path to modernization, which will bring great opportunities to the world, Ding said.

    China will continue to follow the principle of amity, sincerity, mutual benefit and inclusiveness in neighborhood diplomacy, deepen practical cooperation with ASEAN countries, and write a new chapter in building a closer China-ASEAN community of shared future, he added.

    Ding called on China and ASEAN countries to elevate strategic mutual trust to new heights. Efforts should be made to implement the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, further synergize their development strategies, and strengthen high-quality Belt and Road cooperation to better promote regional and global prosperity and stability, he said.

    He also called on China and ASEAN countries to advance open cooperation to a new level. Both sides should implement the Regional Comprehensive Economic Partnership Agreement (RCEP) with high quality, work for an early conclusion of the negotiations for version 3.0 of the China-ASEAN Free Trade Area (FTA), steadily expand institutional opening-up, and build a more stable and smooth cross-border industrial and supply chain, he added.

    China and ASEAN countries need to foster a new pattern of all-round connectivity, Ding said, urging the two sides to jointly build the New International Land-Sea Trade Corridor at a high level, and make solid progress in the development of important economic corridors and key projects.

    China and ASEAN countries should expand new areas of cooperation in science, technology and innovation, Ding said, adding that the two sides should jointly implement China-ASEAN science and technology innovation enhancement program, accelerate the construction of platforms such as joint laboratories, and ensure that more innovative achievements benefit the people of both sides.

    Ding also urged China and ASEAN countries to cultivate new highlights in mutual understanding and affinity among the people. Taking the China-ASEAN Year of People-to-People Exchanges as an opportunity, Ding said the two sides should further deepen exchanges and cooperation in culture, tourism, training, youth, and solidify the public opinion foundation of bilateral relations.

    Malaysia’s Prime Minister Anwar Ibrahim delivered a video address. Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers of Cambodia Vongsey Vissoth, Deputy Prime Minister of Laos Kikeo Khaykhamphithoune, and Deputy Prime Minister and Minister of Finance of Vietnam Ho Duc Phoc, as well as Secretary-General of ASEAN Kao Kim Hourn attended the opening ceremony and delivered speeches successively.

    After the opening ceremony, Ding toured the exhibition hall and exchanged views with the heads of the exhibitors.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: SCED visits Singapore to foster closer trade and economic ties (with photos)

    Source: Hong Kong Government special administrative region

    SCED visits Singapore to foster closer trade and economic ties (with photos)
    SCED visits Singapore to foster closer trade and economic ties (with photos)
    ****************************************************************************

         ​The Secretary for Commerce and Economic Development, Mr Algernon Yau, met with senior officials and business leaders in Singapore to deepen trade and economic ties, and explore collaboration opportunities on his visit to the country.      ​Mr Yau started his three-day visit on September 22. Hong Kong and Singapore have long been enjoying close and cordial bilateral trade and economic relations. Singapore is Hong Kong’s fourth-largest trading partner and largest partner among the Association of Southeast Asian Nations (ASEAN) member states in merchandise trade. Singapore is also Hong Kong’s seventh-largest investor and sixth-largest destination of outward investment.      ​During the visit, Mr Yau met with representatives from major business chambers of Singapore, including the Singapore Business Federation, the Association of Small & Medium Enterprises of Singapore, the Singapore International Chamber of Commerce and the Singapore Chinese Chamber of Commerce & Industry respectively to update them on Hong Kong’s latest development and measures on assisting enterprises in setting up businesses in Hong Kong. He also appealed to the Singaporean business sector to leverage Hong Kong’s unique advantages to explore the vast opportunities in the Mainland market, particularly the Guangdong-Hong Kong-Macao Greater Bay Area.      ​Meanwhile, Mr Yau had a lunch meeting with the Deputy Prime Minister and Minister for Trade and Industry of Singapore, Mr Gan Kim Yong, yesterday (September 23) to discuss various trade and economic issues and exchange views on the regional economic landscape. Mr Yau expressed gratitude to the support from Singapore for Hong Kong’s application for joining the Regional Comprehensive Economic Partnership (RCEP). He noted that Hong Kong always treasures Singapore as a valuable economic partner both on its own and as a member of the ASEAN family. By joining the RCEP, Hong Kong can contribute to the wider and deeper economic co-operation and integration in the region.      ​Mr Yau also paid a courtesy call on the Chinese Ambassador to Singapore, Mr Cao Zhongming, to update him on the latest situation of Hong Kong. He then had dinner with Hong Kong entrepreneurs and executives working in Singapore with a view to understanding their work and lives.      ​Mr Yau today (September 24) met with the Chairman of the Singapore Economic Development Board, Mr Png Cheong Boon, to learn about the latest developments of Singapore and exchange views on investment promotion. Mr Yau said he looked forward to further collaboration between Hong Kong and Singapore in different areas with a view to fostering even closer relations between the two economies.      ​Mr Yau concluded his visit and will return to Hong Kong this evening.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by CE at 5th Belt and Road Initiative Tax Administration Cooperation Forum (English only)

    Source: Hong Kong Government special administrative region

    Speech by CE at 5th Belt and Road Initiative Tax Administration Cooperation Forum (English only)
    Speech by CE at 5th Belt and Road Initiative Tax Administration Cooperation Forum (English only)
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         Following is the speech by the Chief Executive, Mr John Lee, at the 5th Belt and Road Initiative Tax Administration Cooperation Forum today (September 24): Honourable Commissioner Hu Jinglin (Commissioner of the State Taxation Administration), Deputy Commissioner Wang Daoshu (Deputy Commissioner of the State Taxation Administration and Executive Secretary of the Belt and Road Initiative Tax Administration Cooperation Mechanism Secretariat), Deputy Director Yin Zonghua (Deputy Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR)), Deputy Commissioner Li Yongsheng (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR), honourable ministers and senior officials from Belt and Road economies, distinguished guests, ladies and gentlemen,      Good afternoon. Welcome to Hong Kong and the 5th Belt and Road Initiative Tax Administration Cooperation Forum.      I am grateful to the organisers, the Belt and Road Initiative Tax Administration Cooperation Mechanism, or BRITACOM – this year celebrating its fifth anniversary – and to our Inland Revenue Department. BRITACOM was created, in 2019, to promote tax administration co-operation among the widespread jurisdictions of the Belt and Road Initiative.      The Belt and Road Initiative, as you are well aware, was proposed by President Xi Jinping in 2013. As the Initiative ushers in its next golden decade, so has BRITACOM, a key co-operation mechanism that has facilitated people-to-people exchanges and promoted mutual understanding along the Belt and Road.      Today, BRITACOM counts 37 Council Members and more than 30 observers – including tax administrations and international organisations.      And this Forum, the annual international forum of BRITACOM, is a must-attend event. This year’s three-day gathering has attracted some 400 high-level representatives from nearly 30 jurisdictions. You are officials of tax administrations, tax specialists, academics and professionals from around the world.      This year’s theme – “Deepening Tax Administration Cooperation for High-Quality Belt and Road Development” – speaks clearly of today’s complex world and the heightened need for connectivity among us.      Hong Kong, China is honoured to host this year’s Forum and connect Belt and Road economies together in our global community of shared future. I am grateful for the State Taxation Administration’s support in our efforts.      Hong Kong plays an active role in the Belt and Road. And we are committed to the good work of BRITACOM, as a member tax administration of the mechanism.      Under the unique “one country, two systems” principle, Hong Kong connects both the global advantage and the China advantage in a single city. As a special administrative region of the People’s Republic of China, we are a separate customs territory and practise an independent taxation system. We are a founding member of the World Trade Organization and participate in international organisations and trade agreements using the name “Hong Kong, China”.      As the only common law jurisdiction within China, our legal system in the business realm resembles that of most major international financial centres. Our robust legal system is backed by such long-standing institutional strengths as the free flow of information, capital, goods and people, low and simple tax system, and highly open and internationalised market. Together, they ensure our strategic role as a “super connector” and a “super value-adder” between the Mainland and the rest of the world.      It helps, and enormously, that Hong Kong is a trusted international centre for finance and trade. In the latest World Competitiveness Yearbook, published by the International Institute for Management Development (IMD), Hong Kong placed fifth, up two positions over last year’s ranking.       According to the Yearbook, we came first in the Asia-Pacific region in “tax policy” and second worldwide. And we topped the world in “international trade” and “business legislation”.      Crucial to Hong Kong’s development is our talent. As the only city in Asia that has as many as five universities in the world’s top 100, Hong Kong boasts a strong pool of multi-talented and hard-working professionals. That’s why in the latest World Talent Ranking, published last week also by the IMD, we ranked number nine in the world, rising visibly from 16 last year. We were among the global top five in the availability of finance skills, effectiveness of management education, and remuneration of management. I am proud of the achievement of our talent, and our city.      Hong Kong is a pivotal player in such national strategies as the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative. Indeed, just two weeks ago, we hosted our annual Belt and Road Summit, drawing some 6 000 high-profile individuals from about 70 countries and regions. The Summit, which next year turns 10, has been recognised by the Central Government as a key global gathering for advancing economic, trade and investment co-operation along the Belt and Road.       Economic globalisation, digitalisation and evolving business models demand a co-operative approach. By deepening collaboration, we can, working together, create an equitable, efficient and sustainable system that benefits us all.       Indeed, tax administration plays a crucial role in ensuring sustainable development. Efficient tax systems provide the essential resources for the delivery of public services and infrastructure.       Hong Kong believes that transparent and fair tax policies could foster trust among investors, governments and taxpayers.      As a champion of free and multilateral trade, Hong Kong, I’m pleased to add, supports the co-ordinated efforts of the international tax community, actively engaging in initiatives designed to bring economies together.      We take pride in having signed 50 Comprehensive Avoidance of Double Taxation Agreement since 2003. And more than 60 per cent of these agreements were signed with jurisdictions participating in the Belt and Road.       These agreements play a vital role in strengthening economic ties and promoting cross-border trade and investment. They enable closer tax co-operation between governments, aligning our practices with global standards.        We are, let me add, committed to expanding our tax treaty network, particularly with economies along the Belt and Road.       And I am pleased to announce that Hong Kong and Türkiye will sign a Comprehensive Avoidance of Double Taxation Agreement later at this Forum.      This milestone is another tangible illustration of Hong Kong’s determination to expand our tax treaty network. It also highlights our commitment to boosting ties and relations with Belt and Road economies.       Alongside our long-standing institutional strengths, we are increasingly employing technology to enhance taxpayer services and improve compliance.      And we are pleased to share our digital tax administration experience with Belt and Road jurisdictions – with each one of you. Much of tomorrow morning’s Forum, let me add, will focus on promoting the digitalisation of tax administration.       I am confident you will find this Forum instructive, inspiring and rewarding, whatever your sector, profession or interest.        I’m confident, too, that you will find Hong Kong equally rewarding over these next several days. This Forum is just one of more than 200 major events we’re hosting this year for visitors from around the world. I encourage you to make time to experience our dynamic culture and world-class entertainment, from daybreak deep into the night.      Hong Kong is fast rising as an East-meets-West centre for international cultural exchange. That becomes abundantly clear in a visit to
    our West Kowloon Cultural District. One of the largest developments of its kind in the world, it’s home to the Hong Kong Palace Museum and its priceless treasures from the Beijing’s Forbidden City. Home, too, to M+, Asia’s first global museum of contemporary visual art. You’ll also want to take in the breathtaking views from Victoria Harbour and Ngong Ping 360, the thrilling cable car that connects Tung Chung and Ngong Ping on Lantau Island, which is just a stone’s throw away from our event venue here.      This venue, AsiaWorld-Expo, is one of our key exhibition and convention venues. Its close proximity to the Hong Kong International Airport, the world’s busiest cargo airport, means you get to stay well-connected to our city while marvelling at the rapid development of the airport, whose Three-Runway System will be commissioned later this year.      More than a bustling airport, mountain vistas and stunning seaside villages, Hong Kong counts nearly 80 Michelin-star restaurants and neighbourhood pubs, diners and dim sum delights everywhere. We boast nine of Asia’s 50 best bars, including the top bar in the continent, and have two of the world’s 50 best hotels.      Wherever you look, there’s always something happening in Hong Kong, an energetic and welcoming world city.      Ladies and gentlemen, enjoy the Forum and all that Hong Kong has to offer.       Thank you.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:05

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    MIL OSI Asia Pacific News –

  • MIL-OSI China: China pledges joint efforts with ASEAN to build closer community with shared future: vice premier

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

    China pledges joint efforts with ASEAN to build closer community with shared future: vice premier

    NANNING, Sept. 24 — China is willing to work with the Association of Southeast Asian Nations (ASEAN) to deepen practical cooperation and write a new chapter in building a closer China-ASEAN community with a shared future, Chinese Vice Premier Ding Xuexiang said Tuesday.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when addressing the opening ceremony of the 21st China-ASEAN Expo and the China-ASEAN Business and Investment Summit in Nanning, south China’s Guangxi Zhuang Autonomous Region.

    China and ASEAN enjoy a long history of friendly relations and are good neighbors, good friends and good partners, Ding noted, adding that China and ASEAN have always been moving forward hand in hand, which has become the most successful and dynamic model of Asia-Pacific regional cooperation and a vivid example of promoting the building of a community with a shared future for mankind.

    China is advancing its efforts to build a great modern socialist country in all respects and pursue national rejuvenation through a Chinese path to modernization, which will bring great opportunities to the world, Ding said.

    China will continue to follow the principle of amity, sincerity, mutual benefit and inclusiveness in neighborhood diplomacy, deepen practical cooperation with ASEAN countries, and write a new chapter in building a closer China-ASEAN community of shared future, he added.

    Ding called on China and ASEAN countries to elevate strategic mutual trust to new heights. Efforts should be made to implement the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, further synergize their development strategies, and strengthen high-quality Belt and Road cooperation to better promote regional and global prosperity and stability, he said.

    He also called on China and ASEAN countries to advance open cooperation to a new level. Both sides should implement the Regional Comprehensive Economic Partnership Agreement (RCEP) with high quality, work for an early conclusion of the negotiations for version 3.0 of the China-ASEAN Free Trade Area (FTA), steadily expand institutional opening-up, and build a more stable and smooth cross-border industrial and supply chain, he added.

    China and ASEAN countries need to foster a new pattern of all-round connectivity, Ding said, urging the two sides to jointly build the New International Land-Sea Trade Corridor at a high level, and make solid progress in the development of important economic corridors and key projects.

    China and ASEAN countries should expand new areas of cooperation in science, technology and innovation, Ding said, adding that the two sides should jointly implement China-ASEAN science and technology innovation enhancement program, accelerate the construction of platforms such as joint laboratories, and ensure that more innovative achievements benefit the people of both sides.

    Ding also urged China and ASEAN countries to cultivate new highlights in mutual understanding and affinity among the people. Taking the China-ASEAN Year of People-to-People Exchanges as an opportunity, Ding said the two sides should further deepen exchanges and cooperation in culture, tourism, training, youth, and solidify the public opinion foundation of bilateral relations.

    Malaysia’s Prime Minister Anwar Ibrahim delivered a video address. Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers of Cambodia Vongsey Vissoth, Deputy Prime Minister of Laos Kikeo Khaykhamphithoune, and Deputy Prime Minister and Minister of Finance of Vietnam Ho Duc Phoc, as well as Secretary-General of ASEAN Kao Kim Hourn attended the opening ceremony and delivered speeches successively.

    After the opening ceremony, Ding toured the exhibition hall and exchanged views with the heads of the exhibitors.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today

    Source: Hong Kong Government special administrative region

    Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today
    Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today
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          The Labour Department (LD) held the Good Employer Charter 2024 (Charter 2024) Presentation Ceremony and the Good Employee Recognition Campaign Kick-off Ceremony today (September 24), commending all good employers while launching the Good Employee Recognition Campaign.       Speaking at the ceremony, the Secretary for Labour and Welfare, Mr Chris Sun, expressed gratitude to every good employer for implementing flexible work arrangements and offering assistance to employees to enable them to balance the needs of work and personal lives, which are conducive to unleashing the potential of the local labour force.      Various sectors have supported the Charter 2024, with a total of 1 596 organisations being accredited as signatories, representing an increase of nearly 70 per cent from the previous term. Among them, 1 002 organisations are authorised to use the “Supportive Family-friendly Good Employer” logo which symbolises a commitment to promoting a family-friendly employment culture. Moreover, 318 organisations have been signatories for three consecutive terms with consistent good human resource management practices in place. Representatives from three signatories of the Charter 2024 shared their successful experiences in carrying out good human resource management and family-friendly employment practices at the event today.       In furtherance of the Charter 2024, the LD launched for the first time the Good Employee Recognition Campaign to encourage participating signatories to nominate their employees to join the Campaign to express their gratitude and recognition for their contributions. Good employees can be measured in the following five key aspects, namely work ability, attitude to clients, adaptability, team spirit, and a sense of belonging to the organisation. Nominated employees or teams being accredited by the panel of judges will each be awarded the Good Employee Commendation Certificate and a lapel pin to recognise their outstanding performances and contributions to the organisations.      The Presentation Ceremony and the Kick-off Ceremony is one of the signature events in celebration of the 75th anniversary of the founding of the People’s Republic of China. Mr Sun said that the current-term Government attached great importance to improving employees’ benefits, promoting employment, and protecting the occupational safety and health of employees. He hoped that different groups in society would continue to support the government-led Charter and the Good Employee Recognition Campaign, and work together closely to foster win-win labour relations as well as a harmonious and inclusive community.      The LD has published a newspaper supplement introducing the Charter 2024 and the Good Employee Recognition Campaign as well as major initiatives of the current-term Government to improve employees’ rights and benefits. For details of Charter 2024 and the Good Employee Recognition Campaign, please visit the website: www.gec.labour.gov.hk.     The Good Employer Charter has come to its third round since it was first awarded in 2018, and is supported by eight organisations, namely the Chinese General Chamber of Commerce, Hong Kong; the Chinese Manufacturers’ Association of Hong Kong; the Employers’ Federation of Hong Kong; the Federation of Hong Kong Industries; the Hong Kong General Chamber of Commerce; the Hong Kong General Chamber of Small and Medium Business; the Hong Kong Institute of Human Resource Management, and the Hong Kong Small and Medium Enterprises Association. The aforementioned organisations, together with the Hong Kong Federation of Trade Unions and the Federation of Hong Kong and Kowloon Labour Unions, are supporting organisations of the Good Employee Recognition Campaign. 

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • 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

    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 –

  • 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 –

  • MIL-OSI Russia: Wonderful gardens, the tsar’s residence and a Moscow salon: what the capital’s parks looked like in different years

    MIL OSI Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Moscow parks have long been a place of attraction for residents. Lectures, excursions, master classes and even open-air film screenings are held here. This year, 14 Moscow parks will celebrate their anniversaries – many of them will be over 50 years old. We tell you which recreation area was improved by Sergei Tretyakov, where football player Alexei Khomich began his career and which park was founded by Peter I.

    Center of cultural life

    This year is special for Tagansky Park, located on Taganskaya Street (40–42 buildings) — it is turning 90 years old. It was founded in 1934 at the N. I. Bukharin Workers’ Club and immediately became the center of cultural life in the Tagansky District. In 1957, the Zenit Cinema was built on the site of the old club, housing a concert hall. At the same time, amateur art and applied arts clubs for children and adults opened here.

    The history of Tagansky Park is connected with the names of outstanding residents of the capital. For example, football players Konstantin Beskov and Alexey Khomich, USSR tennis champion Nikolay Ozerov and Olympic figure skating champion Irina Rodnina began their sports careers here.

    After the Great Patriotic War, the park hosted meetings with heroes of the Soviet Union, military-patriotic gatherings, competitions and holiday concerts. In addition, jazz and brass bands, as well as dance evenings, were organized here. The park hosted major festivals such as the Musical Bazaar on Taganka, Beauty Will Save the World, Moscow Yard, Spring in Tagansky Park, Taganka Running Festival and many others. And sports clubs from the districts and the city competed at the stadium.

    In the early 2000s, the park began to actively work with children and teenagers. For example, a creativity center with a chamber auditorium was opened, where musical performances and festivals were held. Today, the park still hosts concerts, master classes and sports competitions. In the summer, guests practice yoga, bachata and zumba, and in the winter, ice discos are organized for them at the stadium, which turns into a skating rink.

    Tagansky Park pleases visitors with a variety of plants, for example, poplars, chestnuts, lindens, maples, ash trees, apple trees and a three-hundred-year-old pedunculate oak grow here, tulips and lilacs bloom in the spring. While walking through the park, you can meet starlings, thrushes, tits, wagtails and squirrels.

    On the territory of Tagansky Park there is a large fountain, an open stage, a rope park, children’s and sports grounds, a stadium with a football field, stands and running tracks, a creativity center, a physical education and health complex, a martial arts center, as well as a Museum of Tricks and Illusions.

    In 2012–2013, a large-scale reconstruction of the park’s territory took place, during which the stadium was transformed and new sports grounds and leisure facilities appeared.

    Tagansky Park includes the N.N. Pryamikov Children’s Park (Taganskaya Street, Building 15a, Building 1) — one of the first recreation areas in the city, the history of which began in 1775. The park is named after the hero of the October Revolution. In 2017, the landscape was updated, small architectural forms and new modern equipment were installed.

    Today, Tagansky Park is a cultural, leisure and sports center, a place for active recreation and leisurely walks. It plans to continue its traditions and open even more clubs for the younger generation.

    The first pleasure garden

    The Hermitage Garden was founded 130 years ago. It was the first pleasure garden in Moscow with gazebos, flowerbeds, a theater, a stage, coffee houses and pavilions. From 1830 until the end of the 19th century, it was located on Staraya Bozhedomka (now Durova Street). The garden reached its greatest prosperity when it belonged to the entrepreneur and former actor of the Maly Theater Mikhail Lentovsky. However, after his destruction, the garden fell into disrepair and its entire territory was built up. In 1894, a new life for the garden began – but in a different place. In just a year, the plot of land on Karetny Ryad, which was owned by the Moscow merchant Yakov Shchukin, turned from a wasteland into a blooming garden. Flowerbeds and paths were laid out there, trees and bushes were planted, and the theater building was reconstructed. At the same time, electric lighting, running water and a swimming pool appeared in the Hermitage.

    A year later, in 1896, one of the first film screenings in Russia took place in the garden – the townspeople were able to appreciate the invention of the Lumiere brothers. A performance by the famous American illusionist Harry Houdini was also a significant event.

    Fyodor Chaliapin, Leonid Sobinov, Antonina Nezhdanova sang on the stage of the Hermitage, and it was here that Sergei Rachmaninoff made his debut as a conductor. In 1898, the Moscow Art Theatre opened in the building of the Hermitage Theatre, where the play Tsar Fyodor Ioannovich was staged. Leo Tolstoy and Vladimir Lenin often visited the garden.

    After 1917, the garden was nationalized and then leased privately. In 1924, the theater building was occupied by the Theater of the Moscow City Council of Trade Unions, which was later renamed the Mossovet Theater.

    The Hermitage Garden survived the Great Patriotic War, and in the summer of 1945, it was reconstructed. Three years later, a summer concert hall was built on its territory, where Arkady Raikin, Klavdiya Shulzhenko, Lidiya Ruslanova performed and Leonid Utesov’s orchestra played. Vladimir Vysotsky also sang in the garden and the first game of “What? Where? When?” was held.

    Today, the Hermitage Garden is a protected monument of landscape gardening. It is regularly renovated and landscaped. Concerts, performances and festivals are held here.

    First entertainment. The Hermitage Garden celebrates its 130th anniversaryOutdoor recreation and attractions: Glavarkhiv – about how parks were organized in the USSR

    The famous Moscow salon

    The history of the Vorontsovo estate, which has been around for five centuries, is no less interesting. The estate was first mentioned in the will of the Moscow Prince Ivan III. In 1640, the estate passed into the possession of the Repnin princes. However, all the buildings that have survived to this day were built at the turn of the 18th–19th centuries under Field Marshal Nikolai Repnin. At that time, the northern and southern wings, the greenhouse, the stable yard, the ensemble of the main entrance and the Church of the Life-Giving Trinity were erected.

    During the Patriotic War of 1812, a hot air balloon was developed at the estate under the direction of the German mechanic Franz Leppich. This episode is described in Leo Tolstoy’s novel War and Peace. In the 1820s, the Vorontsovo estate was owned by Princess Zinaida Volkonskaya. All the celebrities of the time visited her Moscow salon; for example, the Polish poet Adam Mickiewicz came here.

    After 1918, members of European socialist parties Emil Vandervelde, Arthur Waters, Theodor Liebknecht and Kurt Rosenfeld lived here. After the evacuation of the All-Union Scientific Research Vitamin Institute from Leningrad at the end of 1942, the Vorontsov Central Biological Station appeared on the estate, and in the 1950s, the state farm built three two-story buildings on the estate.

    Today, the Vorontsovo estate is a monument of landscape gardening and architecture with an area of 40.7 hectares. On its territory there is a cascade of ponds, an oak grove, Italian and Chinese gardens. The park has playgrounds, attractions, outdoor cafes and skating rinks. The estate often hosts city festivals and quests, flash mobs and exhibitions. Sports activities and excursions are also organized here.

    The Tsar’s residence in the south of Moscow

    Another historical park in Moscow is the Kolomenskoye Museum-Reserve. Kolomenskoye was first mentioned in the spiritual charters of Prince Ivan Kalita. Over time, this place turned into a famous grand ducal, royal and imperial residence.

    The names of representatives of the royal dynasties of Rurikovich and Romanov are associated with Kolomenskoye. Among them are Dmitry Donskoy, Ivan III, Vasily III, Ivan the Terrible, Alexei Mikhailovich the Quietest, Peter I, Catherine II and many others. At various times, the victory in the Battles of Kulikovo and Poltava was celebrated here and other events were marked.

    Today, the Kolomenskoye Museum-Reserve is a unique historical and cultural territory where medieval landscapes and natural monuments have been preserved. It was created in 1923 on the initiative of the cultural figure Pyotr Baranovsky.

    Sergei Sobyanin showed what Sokolniki, Gorky Park, Izmailovsky Park and Tsaritsyno looked like in spring several decades agoArt and nature: which theaters operate in the capital’s parks

    From falconry to concerts of Feodor Chaliapin

    Sokolniki Park is another favorite place for Muscovites to take walks since the end of the 19th and beginning of the 20th century. In the 17th century, during the reign of Tsar Alexei Mikhailovich, falconry was held here, hence the name of the park. All high society gathered here, including princes, emperors and empresses.

    And, according to legend, at the end of the 17th century, by order of Peter I, the first clearing was cut in Sokolnichya Grove, which still exists today. In 1845-1848, a city park was created here, and new cascades of ponds appeared on the site of old reservoirs. In 1866, the recreation area was included in the boundaries of Moscow, and in 1879 it became the property of the city. The city mayor Sergei Tretyakov, the brother of the founder of the Tretyakov Gallery, invested his own funds in the improvement of the park territory, and he also ensured that the park territory became part of Moscow.

    Here, in the openwork pavilion-rotunda, classical music concerts were held, where Fyodor Shalyapin and Leonid Sobinov performed. In addition, film screenings and children’s parties were held. For example, in 1919, Vladimir Lenin organized a festive Christmas tree in the park for the students of the forest school.

    In 1931, the Moscow City Council declared Sokolniki a city park of culture and recreation. After the Great Patriotic War, the recreation area of over 500 hectares was reconstructed. In 1973, the legendary Sokolniki Sports Palace was built on its territory. In 1979, the park was recognized as a cultural heritage site, a monument of landscape gardening of regional significance.

    Wonderful Gardens and Menagerie

    The history of Izmailovsky Park goes back to the reign of Alexei Mikhailovich. In the 17th century, marvelous Italian-style gardens were laid out in the royal estate located here, decorative towers with promenades were built, which complemented the landscape paintings. Three kilometers from the sovereign’s court, the Prosyansky Garden was arranged. On the territory of the forest (now Izmailovsky Park) there was one of the largest menageries in Europe, which served for the royal amusement. Lions, tigers, leopards, monkeys and rare birds were kept there. The forest also had farmland where fish were bred.

    The Izmailovsky Park of Culture and Leisure was created in 1931. Until 1961, it bore the name of Joseph Stalin. On its territory is the oldest Ferris wheel in the city, the open-air museum of military equipment “Ploshchad Muzhestva”, the 17th-century Round Pond and a music pavilion.

    Open-Air Stages. Theatrical History of Moscow Parks and EstatesAll eyes on the front: life in the capital’s parks during the war

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

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

    http://vvv.mos.ru/nevs/item/144324073/

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Secretary-General of ASEAN addresses China-ASEAN Business Leaders Forum

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today delivered his opening remarks at the China-ASEAN Business Leaders Forum under the framework of the 21st China-ASEAN Business and Investment Summit (CABIS). In his remarks, Dr. Kao stressed the importance of the RCEP and ACFTA as key to advancing ASEAN and China economic competitiveness, offering real opportunities for businesses. These has simplified customs procedures and harmonizes trade rules, making every cross-border business transaction more cost-effective and helping businesses reach new customers and suppliers.

    Download the full opening remarks here.

    The post Secretary-General of ASEAN addresses China-ASEAN Business Leaders Forum appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN delivers remarks at the RCEP High-Level Dialogue on Economic and Trade Cooperation

    Source: ASEAN

    Secretary-General of ASEAN Dr. Kao Kim Hourn today delivered remarks at the RCEP High-Level Dialogue on Economic and Trade Cooperation, held in Nanning, China. The Dialogue, themed “Collaboratively Promoting the Upgrade of the China-ASEAN Free Trade Area 3.0 and Sharing the Benefits of Regional Economic Integration under RCEP”, provided a platform to advance regional economic integration and foster deeper collaboration between ASEAN and China.

    In his remarks, Dr. Kao spoke about the RCEP and ASEAN-China Free Trade Area (ACFTA), where he highlighted the importance of leveraging these frameworks to enhance trade and investment opportunities in the region. In particular, he called on businesses to take full advantage of the RCEP and the ACFTA 3.0 upgrade, which has the enormous potential to unlock new business opportunities.

    Download the full remarks here.

    The post Secretary-General of ASEAN delivers remarks at the RCEP High-Level Dialogue on Economic and Trade Cooperation appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: BSTDB Builds Up Partnership with OCN Microinvest S.R.L. to Boost Moldova’s Real Economy and Green Financing

    Source: Black Sea Trade and Development Bank

    Press Release | 24-Sep-2024

    New Credit Line to Support Small Businesses and Green Projects

    To bolster economic activity and promote green financing in Moldova, the Black Sea Trade and Development Bank (BSTDB) has announced a new partnership with OCN Microinvest S.R.L., the leading microfinance company in the country. Under this partnership, BSTDB will provide a credit line of up to EUR 10 million, aimed at enhancing financial access for small businesses and supporting the real economy in Moldova.

    OCN Microinvest S.R.L. will on-lend the funds offered by BSTDB to micro, small, and medium-sized enterprises (MSMEs) to support their activities and growth. A portion of these funds will be specifically allocated for green financing initiatives, including energy and resource efficiency, green energy and low-carbon technologies.

    Signing the loan agreement, Dr. Serhat Köksal, BSTDB President, said: “Developing strategic partnerships with leading financial institutions in our member countries is crucial for fulfilling our mandate, particularly when direct outreach to end users is not feasible. Access to finance for micro, small, and medium enterprises is vital for sustainable and inclusive growth in Moldova. In alignment with our Climate Strategy, we are pleased to see that a portion of our loan will be dedicated to financing green activities, thereby contributing effectively to the decarbonization of the Moldovan economy.”

    Dumitru Svinarenco, CEO of OCN Microinvest SRL: “This new partnership with the Black Sea Trade and Development Bank is a testament to our shared commitment to fostering Moldova’s economic resilience and environmental sustainability. The EUR 10 million credit line will provide a much-needed boost to the country’s MSMEs, helping them to scale and adapt in a challenging economic landscape. Moreover, the focus on green financing aligns perfectly with Microinvest’s strategy to encourage more businesses to embrace energy efficiency and sustainable practices. We are proud to be working with BSTDB to support not only the growth of small businesses but also the broader transition to a greener economy in Moldova.”

    O.C.N. Microinvest S.R.L.  was established in 2003 as a microfinance limited liability company in Moldova. The company has a solid shareholding structure, comprising reputable foreign and local non-profit and developmental financial institutions. The company’s activity focuses on lending to individuals and micro, small and medium size enterprises.

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

    Contact: Haroula Christodoulou

    Phone: +30 2310 290533

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI Banking: Web tracking report: who monitored users’ online activities in 2023–2024 the most

    Source: Securelist – Kaspersky

    Headline: Web tracking report: who monitored users’ online activities in 2023–2024 the most

    Web tracking has become a pervasive aspect of our online experience. Whether we’re browsing social media, playing video games, shopping for products, or simply reading news articles, trackers are silently monitoring our online behavior, fueling the ceaseless hum of countless data centers worldwide. In this article, we’re going to explore various types of web trackers and present a detailed annual report that dissects their geographical distribution and organizational affiliations.

    What is web tracking?

    Web tracking is the practice of collecting, storing, and analyzing data about users’ online behavior. This data can include demographics, website visits, time spent on sites, and interactions like clicks, scrolls, and mouse pointer hovers that can be leveraged for creating heatmaps, etc. The primary goal of web tracking is to gain valuable insights into user behavior, preferences, and interests. This information allows businesses to personalize experiences, improve user engagement, target advertising more efficiently, and measure the performance of their online services.

    Types of web tracking

    Web tracking can be classified into several categories based on the methods and technologies employed:

    Cookies

    Cookies are small text files that websites place on a user’s device to store information about their visits, such as login credentials, preferences, and tracking identifiers. Despite a commendable commitment to enhance online privacy, primarily Google’s Privacy Sandbox project, Kaspersky experts anticipate that third-party cookies will persist for long time yet. In fact, even as we were processing the data to write this report, Antonio Chavez, Vice President of Privacy Sandbox, announced an intention to reconsider the plan of third-party cookies deprecation.

    Web beacons

    Also known as web bugs or tracking pixels, web beacons are transparent images — typically lines or 1×1 pixels — that send a lot of tracking data, usually via a query string. When a user accesses the content, the web beacon sends data back to the server. This allows businesses to track user interactions without requiring additional action from the user.

    Social media tracking

    Many websites embed social media buttons that help users to share content easily. However, these innocuous buttons often come with tracking capabilities. Even if the user does not engage with the social media site directly, these platforms still collect data on their online behavior.

    Web analytics

    Services like Google Analytics offer a deep dive into user engagement on websites. These tools track a wide range of metrics, from page views and bounce rates to conversion rates, empowering businesses to understand user behavior and optimize website performance.

    Fingerprinting

    Device fingerprinting is a tracking technique that identifies users by collecting unique information about their device and browser settings. This includes details like screen resolution, operating system, installed plugins, and browser language. This creates a unique “fingerprint” that can identify the user across different websites, even without cookies.

    Statistics collection principles

    For this report, we used anonymous statistics collected from July 2023 to June 2024 inclusive, by the Do Not Track (DNT) component, which prevents the loading of tracking elements that track user actions on websites. The statistics consist of anonymized data provided by users voluntarily.

    Even the most experienced users often make the mistake to confuse DNT features with the built-in “incognito mode” offered by all leading web browsers. Incognito mode only ensures that all your data like browsing history and cookies is cleared after you close the private window. However, it does not prevent websites from tracking your activities within that session. It also does not make you anonymous to your internet service provider (ISP) or protect you from adware or spyware that might be tracking your online behavior, cryptominers, or worse.

    Over the year, the DNT component was triggered 38,725,551,855 times. We have compiled a list of 25 tracking services that DNT detected most frequently across nine regions and certain individual countries. 100% represents the total number of DNT detections triggered by all 25 tracking services.

    The DNT component is included in all Kaspersky security solutions and is disabled by default.

    Global tracker giants

    Eight tracking systems appeared in almost all of the TOP 25 lists for the regions we studied. Four of these belong to Google. Besides these, we will look at two other tracking systems which were also widely represented across almost all regions: New Relic and Microsoft.

    In addition, two other systems – Criteo and Facebook Custom Audiences – also made it into the TOP 25 for all regions, but we’ve already covered them in previous articles.

    Google

    Google has several tracking systems responsible for various but often overlapping areas of marketing, advertising, and other fields involving the collection, analysis, and interpretation of user data.

    Google Display & Video 360 is a tool for managing advertising campaigns. Its trackers monitor advertising-related activities (clicks, technical metrics of ads, and so on). This system had the largest share among the TOP 25 tracking systems in Asia. In South Asia, it accounted for 25.47% of DNT component triggers, and in East Asia – 24.45%. The smallest share of this tracking system was in the CIS (Commonwealth of Independent States) – just 8.38%, as this region features a strong presence of local tracking systems, which we will discuss later.

    The share of DNT triggers for Google Display & Video 360 trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    Compared to our previous report, covering the period from August 2021 to August 2022, the presence of Google Display & Video 360 slightly increased in East Asia and the CIS, while it decreased in other regions.

    The second frequently encountered tracking system is Google Analytics. This system analyzes user behavior and tracks keywords to enhance website traffic and efficiency. Its largest share is in Latin America – 14.89%, followed by the Middle East at 14.12%. The lowest share of these trackers in our statistics is in North America – 8.42%.

    The share of DNT triggers for Google Analytics trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    Just like the previous system, Google Analytics slightly increased its share in East Asia (up to 13.83%) and the CIS (9.36%), while decreasing in other regions.

    Trackers from Google AdSense, like Google Display & Video 360, monitor advertising activity and provide reports to website owners. This tracking system has its largest share in the Middle East (6.91%) and South Asia (6.85%). The smallest shares are in Oceania (3.76%) and the CIS (2.30%).

    The share of DNT triggers for Google AdSense trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    In almost all regions, the share for this tracking system increased. It’s worth noting that while some of these tracking systems reduced their presence in certain regions and others increased, they all belong to the same company – Google. Thus, user tracking by Google remains extensive, far exceeding other companies.

    Another significant Google tracking system is YouTube Analytics. It gathers information about video views and audience engagement, measures engagement levels, and more. YouTube Analytics holds the largest share in South Asia (12.71%) and the Middle East (12.30%), and the smallest in Europe (5.65%) and North America (4.56%).

    The share of DNT triggers for YouTube Analytics trackers in each region, July 2021 — June 2022, and July 2023 — June 2024 (download)

    Compared to other Google tracking systems, YouTube Analytics has notably increased its share in all regions.

    New Relic

    The share of DNT triggers for New Relic trackers in each region, July 2023 — June 2024 (download)

    The San Francisco-based New Relic appeared for the first time in our list of global giants present in all regions. Its activity is focused on web tracking for subsequent performance analysis and the detection of website and application errors. The largest share of this tracking system is in Oceania – 15.79%, and the smallest in the CIS – 1.96%.

    Bing and Microsoft Corporation

    The share of DNT triggers for Microsoft Corporation trackers in each region, July 2023 — June 2024 (download)

    Microsoft trackers collect information about user interactions with its online services and other sites. This data is used to optimize service performance, find errors, and more. While this tracking system has a relatively small share, it is present in all regional TOP 25 lists. Microsoft Corporation largest share is in Latin America – 3.38%, and the smallest in the CIS – 0.68%.

    We studied Bing as a separate tracking system, although it is actually part of Microsoft.

    The share of DNT triggers for Bing trackers in each region, July 2023 — June 2024 (download)

    Bing is a full-fledged search engine. Its trackers collect information on search queries, location, and user preferences to display relevant ads – classic search engine functionality. It can be assumed that the share of Bing’s tracking system in various regions indicates the popularity of the search engine itself. A notable share of Bing trackers among the TOP 25 was in Africa – 8.46%, and the smallest in the CIS – 0.77%.

    Regional statistics

    Europe

    Distribution of the TOP 25 tracking systems in Europe, July 2023 — June 2024 (download)

    In the European region, Google tracking systems occupy the top two positions in the TOP 25. Google Display & Video 360 accounts for 17.27%, while Google Analytics holds 11.93%. In third place, with a 9.13% share, is Amazon Technologies. Fourth is Criteo with 6.80%, followed by YouTube Analytics (5.65%), Bing (5.33%), and Google AdSense (5.23%).

    In addition to the tracking systems that are in the TOP 25 of other regions, there is one company in the European ranking not found anywhere else: Improve Digital, a Dutch company that deals with advertising and marketing projects. It closes the TOP 25 with a small share of 1.22%. Next, we’ll look at regions and even countries where the tracking system rankings contain far more names not found in any other region.

    Africa

    Distribution of the TOP 25 tracking systems in Africa, July 2023 — June 2024 (download)

    In Africa, Google trackers occupy the top three spots, with Google Display & Video 360 leading at 19.03%. By the way, only one region and one country among those we examined do not have Google tracking systems in the top position; in nearly all other regions, Google Display & Video 360 leads the rankings, occasionally being surpassed by Google Analytics. In second and third place in the African region are Google Analytics (12.94%) and YouTube Analytics (10.25%). Following them are the aforementioned New Relic (8.55%), Bing (8.46%), Google AdSense (5.11%), Criteo (3.40%), and Xandr (3.17%) – a company owned by Microsoft that focuses on advertising and analytics. The African TOP 25 doesn’t contain any unique tracking systems that can’t be found in other regions.

    Middle East

    Distribution of the TOP 25 tracking systems in the Middle East (excluding Iran), July 2023 — June 2024 (download)

    The top four most widespread tracking systems in the Middle East belong to Google: Google Display & Video 360 (22.92%), Google Analytics (14.12%), YouTube Analytics (12.30%), and Google AdSense (6.91%). Next are Criteo (6.55%), New Relic (4.42%), Bing (2.66%), and Amazon Technologies (2.37%).

    In 19th place, with a small share of 1.42%, are trackers from the Turkish advertising company Virgul.com, unique to this region.

    Distribution of the TOP 25 tracking systems in Iran, July 2023 — June 2024 (download)

    In the Middle East, there is one country worth considering separately due to the significant number of tracking systems that are not found in other rankings – Iran. Despite the presence of numerous local trackers, Google still takes the top spot. However, not with Google Display & Video 360, which ranks third at 11.35%, but rather with Google Analytics at 35.78%, the highest for this system across all the regions and countries we reviewed. In second place are Microsoft Corporation trackers (12.08%), and in fourth is Yandex.Metrica (4.90%). The latter is a division of the Russian company Yandex, responsible for user data collection and analysis for advertising and marketing services, such as analyzing audiences and their behavior. Following Yandex is the local Tehran-based company Yektan (4.52%), which collects and analyzes data for advertising services. Another local Iranian company in the TOP 25 is the internet advertising agency SabaVision (1.55%).

    In addition to these domestic trackers, Iran’s TOP 25 also includes some that appear only in this country but which are not Iranian in origin. These include Tradingview.com (1.84%), an American company collecting telemetry, Amplitude (1.46%), a digital analytics company, Heap (1.18%), a product optimization platform, and Webklipper Technologies (0.96%), which specializes in internet marketing.

    Latin America

    Distribution of the TOP 25 tracking systems in Latin America, July 2023 — June 2024 (download)

    The TOP 25 tracking systems most frequently detected in Latin America contain no local companies. Google Display & Video 360 ranks first with 20.13%, followed by Google Analytics (14.89%) and YouTube Analytics (8.89%). The TOP 25 is completed by PubMatic (1.08%), a company providing software for internet advertising. While it appears in many TOP 25 rankings, its share is minimal.

    North America

    Distribution of the TOP 25 tracking systems in North America, July 2023 — June 2024 (download)

    In North America, Google Display & Video 360 leads the TOP 25 with a significant margin, holding 16.84%. Amazon Technologies comes second with 9.08%. Interestingly, Amazon Technologies trackers appear in the TOP 3 only in three regions or countries we considered: Europe, North America, and Japan. In third place is Google Analytics with 8.42%, which is the lowest share for this system in any of the regions examined. New Relic comes in fourth with 7.62%.

    The North American TOP 25 includes two tracking systems not seen in other regions: The Trade Desk (1.79%) and Quantum Metric (1.76%), both American companies providing platforms for digital analytics and advertising.

    Oceania

    Distribution of the TOP 25 tracking systems in Oceania, July 2023 — June 2024 (download)

    In Oceania, Google Display & Video 360 (18.43%) ranks first, and New Relic, with a 15.79% share, takes second, marking the highest percentage for this tracking system among all the regions and countries examined. Google Analytics is in third place with 12.00%. In addition to the trackers found in most regions, Oceania features Oracle Moat Measurement (2.10%), Chartbeat (1.11%), and Nielsen (1.03%), which appear only in this region’s ranking. Chartbeat is an American company that collects and analyzes user data for media companies to improve monetization. Nielsen is an American company specializing in market measurement, collecting and analyzing user data for this purpose. Oracle Moat Measurement is the advertising division of Oracle, which will cease operations on September 30, 2024. Oracle itself will exit the advertising market, so this is likely the last time we’ll see this tracking system in our research.

    The CIS

    Distribution of the TOP 25 tracking systems in the CIS (excluding Russia), July 2023 — June 2024 (download)

    The CIS region is the most unusual in terms of the distribution of the TOP 25 tracking systems. This is the only region where Google trackers do not occupy the top two spots, ranking third (Google Analytics) with a relatively small share of 9.30% or lower. The first place is held by Yandex.Metrica trackers with 26.19%. As mentioned earlier, Yandex system not only made the TOP 25 in the CIS but was also seen in the Iranian ranking (fourth place at 4.90%), the Middle East (2.30%), and of course, Russia, where it holds first place with a 26.43% share.

    In second place in the CIS ranking is the tracking system from Mail.ru (owned by the VK corporation) with a share of 20.76%. In addition to these two giants in the CIS tracking market, several other local tracking systems also made it into the TOP 25. Right after the three Google systems – Google Analytics (9.30%), YouTube Analytics (8.34%), and Google Display & Video 360 (8.33%) – the tracking system of the local company Mediascope had 2.82%. Mediascope focuses on audience preference and behavior research. Also included in the TOP 25 of the CIS are developments from the following Russian companies: Adriver (2.75%), Buzzoola (2.02%), AdFox, owned by Yandex (1.69%), Rambler Internet Holdings (1.46%), Sape.ru (1.42%), Artificial Computation Intelligence (1.33%), Between Digital (1.01%), Otm (0.99%), Adx.com.ru (0.93%). In total, Russian tracking systems account for 63.35% of the overall CIS ranking.

    Distribution of TOP 25 tracking systems in Russia, July 2023 — June 2024 (download)

    In Russia, the TOP 5 is occupied by domestic tracking systems: Yandex.Metrica (26.43%), Mail.Ru (16.60%), Mediascope (6.16%), Sape.ru (4.89%) and Artificial Computation Intelligence (4.80%). Google AdSense only ranks sixth with a 4.50% share. In addition to the trackers seen in the CIS TOP 25, the Russian ranking features an even larger number of Russian tracking services: VK (2.09%), Uniontraff (1.79%), Bidvol (1.16%), Teleport Media (0.97%), Avito (0.87%), MoeVideo (0.79%), GetIntent (0.62%), AmberData (0.59%), Kimberlite.io (0.59%) and Bumlam.com (0.56%).

    The share of Russian tracking systems in the TOP 25 amounts to 87.50%. This makes Russia the only region where the overwhelming majority of the TOP 25 tracking systems are local players.

    East Asia

    Distribution of the TOP 25 tracking systems in East Asia (excluding Japan and South Korea), July 2023 — June 2024 (download)

    The top four positions in East Asia are occupied by Google tracking systems. Google Display & Video 360 is in first place with a share of 24.45%, followed by Google Analytics (13.83%), YouTube Analytics (11.66%), and Google AdSense (6.61%). Unlike other regions, the tracking system of the major Chinese IT company Baidu made the TOP 25 in East Asia with a share of 1.87%.

    There are also countries in the region that are worth considering separately, as they feature not only global tracking systems but also local players.

    Distribution of the TOP 25 tracking systems in Japan, July 2023 — June 2024 (download)

    In addition to global companies whose tracking services are observed around the world, in Japan there are trackers only popular within the country. The Yahoo! Japan web portal is widely used, with its trackers accounting for 4.70%. Yahoo Advertising, the digital advertising division of Yahoo, holds a share of 2.35%.

    Local Japanese tracking systems are also well-represented in Japan’s TOP 25, including Geniee (2.77%), Adsp from the Japanese company SMN Corporation (1.35%), MicroAd (1.18%), Supership (1.05%), and LINE Corporation (1.04%). The total share of Japanese companies in the TOP 25 tracking systems is 12.08%.

    Distribution of the TOP 25 tracking systems in South Korea, July 2023 — June 2024 (download)

    The TOP 25 in South Korea also differs from other global rankings, as it includes local Korean trackers. For example, the tracking systems of the highly popular Korean online platform NAVER rank fifth with 7.75%. Another major local player, Kakao, appears twice in the rankings: Kakao trackers are in ninth place with a 1.83% share, while trackers from the web portal Daum (owned by Kakao Corporation) hold a 1.17% share.

    South Asia

    Distribution of the TOP 25 tracking systems in South Asia, July 2023 — June 2024 (download)

    The last region under review is South Asia. The ranking here is fairly typical in terms of the global statistics. Google Display & Video 360 takes first place with 25.47%, followed by Google Analytics (13.97%), YouTube Analytics (12.71%) and Google AdSense (6.85%). Only three American trackers made it into the TOP 25 in South Asia: Sovrn (1.24%), Mux (1.10%) and LinkedIn (1.02%).

    Takeaways

    Google remains the undisputed leader in collecting, analyzing, and processing user data globally. However, in regions like South Korea, Japan, and Russia – where local internet services are particularly advanced – regional tracking systems not only make it into the TOP 25 but can even prevail over global ones. In some cases, such as in the CIS, local trackers can even take over entire regions. On one hand, looking at the TOP 25, it’s clear that user data collection and analysis is not limited to just a few large companies – and the more companies store and process our data, the higher the risk of data breaches. On the other hand, the list of companies is still finite, and the majority of tracking is handled by IT giants, who are motivated to protect user data to avoid reputational damage. The presence of local trackers is undoubtedly a sign of technological development in a region or country. However, the spread of local tracking systems increases the risk of data leaks and can weaken the user’s sense of control over who collects their data. To prevent unwanted data collection by various companies and, in turn, prevent data leaks, we recommend activating the Do Not Track (DNT) plugin.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Derville Rowland: Change and challenges – responding to uncertainty, transforming for the future and driving innovation

    Source: Bank for International Settlements

    Good afternoon. Many thanks to AFME for the invitation to speak at this conference again this year. Today I will focus on the regulatory outlook for financial services in Europe and Ireland in the context of a rapidly changing, more uncertain and ever challenging world.

    The old adage, attributed to Harold Wilson, that “a week is a long time in politics” is equally applicable in many walks of life – but it has often been the case in financial markets. The last period has been no different and week to week we have seen things change rapidly. At the start of August we saw a turbulent trading period following fears of an imminent US recession. More recently, we have seen markets respond to the Fed’s half-point interest rate reduction and the Bank of England and Bank of Japan hold rates steady.  While conditions have improved since, significant downside risks remain.

    In particular, geo-political events remain potential sources of fragility over the coming months, including uncertainty around electoral outcomes, continuing conflict in the middle-east and Ukraine, turbulent economic conditions. Closely linked to the issue of geopolitical tensions, there is now heightened focus on the centrality of cyber risk and operational resilience. The Crowdstrike cyber incident in July, while contained early and brought under control, caused significant disruption and highlighted the fragilities in the system. Cyber risk, and the link to geopolitical tensions, has been flagged by ESMA, EBA and EIOPA and are increasingly recognised as a significant and likely risk by regulated firms. Positively, we have also seen the European Supervisory Authorities (ESAs) and the EU Agency for Cybersecurity announce the signing of a multilateral MoU to strengthen their cooperation and information exchange on cybersecurity risk in the financial sector.  In light of heightened cyber risks, the importance of operational resilience remains paramount. The implementation of the Digital Operational Resilience Act (DORA) remains a key focus for regulators and firms. Digital operational resilience is a fundamental underpinning of a resilient and well-functioning financial system supporting the economy and serving the needs of citizens.  That said, ensuring proportionality has been a central focus of the work to develop the DORA framework. This is an important requirement of all regulation, but is certainly the case with DORA given it is cross-sectoral and applies to almost all financial firms. As implementation work progresses, it will be important for authorities to be mindful of ensuring that smaller firms, in particular, are not disproportionately burdened by the same requirements as larger institutions.

    In Europe, we have seen significant institutional change as European Commission President Ursula von der Leyen takes up her second term in office and the process is underway to appoint new Commissioners. The broad parameters of the forthcoming European legislative and regulatory agenda have been signalled.  International competitiveness remains at the centre of the Commission’s programme, as we have seen from the recent Draghi and Letta reports. It seems likely that there will be a continued focus on reducing and simplifying existing EU law. That is an approach which all policy makers, including national authorities and the European Supervisory Authorities, should be mindful of. However, effective regulation which safeguards consumers, fosters market integrity and supports resilience is key to supporting financial stability. Financial stability and the resilience of the financial sector are prerequisites for sustainable economic growth and promoting competitiveness. In a drive to streamline regulation we must not lose sight of this. It is important to retain the outcomes achieved via legislative and regulatory initiatives enacted since the great financial crisis.

    At the centre of policy makers thinking is the need to finance the EU’s ambitious policy agenda. A significant challenge facing Europe is to secure the public and private finance for the economic and other programmes, including the digital transformation and green deal. At the centre of this is the concept of a Savings and Investment Union, building on the progress made under the Capital Markets Union agenda. In April, Commission President Ursula von der Leyen summed this up by saying that “European start-ups should not need to look at the US or Asia to finance their expansion. They must find what they need to grow right here in Europe. We need a deep and liquid capital market. And we need a competition policy that supports companies to scale up. Europe must be the home of opportunity and innovation.”

    There is much still to determine – including the level of ambition for this Savings Union and whether it should be a top-down exercise or if the lead should be taken at a Member State level.  But I suspect, like most things, the answer is likely somewhere in the middle.  While details remain to be worked out, the Letta and Draghi reports likely set out the broad roadmap for how this may be pursued. That said, there will be a need to radically prioritise. Implementing the Letta report alone would require a number of new legislative proposals, in addition to legislative reviews already committed to and implementation work that is required following the last Commission term.

    As the Draghi report outlines, Europe must refocus its collective efforts on closing the innovation gap with the US and China, especially in advanced technologies. This is important for many reasons, including that faster innovation will, in turn, help raise the EU’s productivity growth, leading to stronger growth in household incomes and stronger domestic demand. At the Central Bank of Ireland, we recognise the many potential benefits and opportunities that new technologies bring to financial services and consumers in Ireland and in Europe. It is important that these benefits can be realised, whilst also ensuring that the risks are well understood and managed. Regulation plays a crucial role in the safe, and therefore enduring, adoption of innovation into the system.

    Innovation has brought in new entrants, new products and new ways of serving customers and the economy. As a result, technological innovation continues to be a focus for the Central Bank. This is one of the reasons why we have enhanced our innovation facilities – with the establishment of an innovation sandbox programme which is due to commence for the first time later this year  – so that we can continue to engage, learn and develop a deeper understanding of the ecosystem, the opportunities, the benefits and the risks. Our goal is not to remain stagnant but to evolve and iterate so that we continue to regulate and supervise effectively.

    Recent years have seen tremendous innovations in financial services. Amongst the most notable have been the development of blockchain-based technologies. We can see the many areas where the blockchain has significant potential to bring about positive change, even transformation, in how we do things. Whether this be tokenisation of investment products or improvements in post-trade infrastructure and interoperability, there are important positive stories to tell.

    The European Commission’s 2020 digital finance package has set Europe up well to take advantage of these developments. The package reflected the EU’s ambition to embrace a digital transition, to help modernise the European economy across sectors, and to turn Europe into a global digital player. Almost 4 years later, we are about to implement the Markets in Crypto-Asset Regulation, or MiCAR.

    This is an important step forward in the regulation of crypto activities in Europe while also leading the way on the regulation of the crypto sector globally.  The potential for crypto and blockchain to build financial inclusivity or democratise finance has long been a theme of discussion in the sector. Crypto enthusiasts speak readily to how crypto and blockchain technologies, paired with global internet access, can provide easy and immediate access to people across the world to financial services and achieve a level of financial inclusivity that the traditional financial services cannot. While this is an exciting prospect, it cannot be achieved without guardrails. For the first time, MiCAR will introduce a harmonised regulatory framework for the sector that introduces prudential and conduct obligations for issuers of e-money tokens, asset-referenced tokens, and for crypto-asset service providers. There are also obligations for offers to the public of crypto-assets other than asset-referenced tokens or e-money tokens.

    There are two priorities I would signal with respect to MiCAR implementation. Firstly, we are working closely with our EU Peers and the ESAs to ensure the necessary coordination and consistency across Europe. The ESAs are, correctly, focused on driving a convergent approach to the implementation of MiCAR in national authorities authorisation and supervision processes. We see this as highly important work. MiCAR, being a first attempt at regulation in this area, is an important opportunity to avoid divergent approaches emerging in different jurisdictions.

    Secondly, over recent years, we have been working to continually improve our authorisation process. Through engagement with industry, other public bodies and applicants, we have sought to better explain our expectations, resulting in increased clarity and predictability. Better risk assessment, better communication and better supervisory outcomes have been the output of that work. We have produced new publications, enhanced our internal processes and responded to the changes in the authorisation landscape, including the increase in the number of complex applications. Under MiCAR, you can expect our approach of continuous improvement to continue.

    Innovation and new technologies can play an increasingly important role in facilitating retail investors participating in capital markets. As we shortly approach IOSCO’s World Investor Week, which is a global campaign to raise awareness of the importance of investor education and protection, it is timely for regulatory authorities and policy makers to take stock and redouble our efforts to support investor education, investor protection and financial literacy.

    Protecting consumers is at the heart of what we do at the Central Bank. We know that consumers who are well-informed and understand financial products and services are better placed to make good financial decisions and to look after their interests. These consumers are less likely to be vulnerable to harm from firms that are not securing their interests, and they are less vulnerable to frauds and scams. This is why high levels of financial literacy empower consumers to make effective and informed choices to safeguard their financial well-being. Irish authorities are currently in the process of developing a national Financial Literacy Strategy for Ireland, something which we at the Central Bank strongly support.

    Ireland’s financial sector has an important role to play in supporting the Savings and Investment Union and providing opportunities for retail investors to participate in capital markets. The sector has demonstrated high levels of resilience while continuing provide critical services to households and business in Ireland and abroad. As with the European economy as a whole, over the last decade, the Irish financial services sector has also continued evolve, in terms of its size, complexity and international connectedness. These developments are, of course, a positive for Ireland, and positive for their contribution to European financial markets. We of course must be mindful that an expanding and more complex financial sector may poses risks that need to be managed. This reinforces the importance of effective regulation and supervision – to maintain financial stability and to protect consumers and investors, both within Ireland, Europe and globally.

    As I mentioned earlier, we recognise that we too must change to keep pace with the changing world. I would like to finish by outlining some of the work we are doing in this regard.

    As you will be aware, we have introduced the Individual Accountability Framework (IAF). The IAF is all about helping underpin sound governance across the financial sector by setting out clearly what is expected of well-run firms. For both firms and the regulator it should be seen as a complement to the wider focus on governance, culture and behaviour. For the Central Bank our hope is that along with wider efforts, the IAF will help make firms take more ownership and responsibility for running their business and addressing any risks or deficiencies they may have. In an increasingly technological and rapidly changing world, the need for effective governance underpinned by a strong ethical culture and robust systems of delivery is becoming more and more essential.

    We are also transforming our supervisory approach – to ensure consumers of financial services are protected in all respects in this changing and increasingly complex environment. Building on the strong foundations of our current approach to supervision, we are moving to an integrated supervisory framework where directorates with oversight of banks, insurance companies and capital markets will be responsible for the supervision of all the functions in their respective sectors. Our approach will continue to be risk-based; but the new framework will ensure we are more efficient and effective in our supervisory work. It will make it easier to direct our supervisory resources to the areas of most risk to consumers or the system. Importantly, it will also place consumer and investor protection at the heart of day to day supervision. This change will maximise the benefit of our integrated mandate – enabling us to continue to deliver on our mission and ensure the financial system operates in the best interests of consumers and the wider economy.  These changes are not just important; they are necessary – so that in a changing world we continue to deliver in the public interest.

    Conclusion

    The EU will also need to take a number of very important decisions in the coming years, especially in terms of what elements of the legislative and regulatory agenda to prioritise, the level of ambition to apply in harnessing the EU’s investment potential, and how to navigate geo-political tensions. All of these – to different degrees – will have an impact on financial markets and firms. The speed of these developments – and their potential to cause ripple effects – will not decrease. And so the onus is on us – firms and regulatory authorities alike – to increasingly evolve our approach, innovate and prepare for what the future may hold.

    Thank you.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Indonesia launches safeguard investigation on tarpaulins made from plastics and synthetic fibers

    Source: World Trade Organization

    In the notification, Indonesia indicated, among other things, as follows:

    “The contact information of the Investigating Authority for correspondence is:

    THE INDONESIAN SAFEGUARDS COMMITTEE
    Komite Pengamanan Perdagangan Indonesia (KPPI)
    Jl. M.I. Ridwan Rais No.5, Building I, 5th floor, Jakarta 10110
    Telephone / Facsimile: (62-21) 385 7758
    E-mail: [email protected]

    […]

    Those having substantial interest and wishing to be considered as interested parties in this investigation should submit written request within a period of 15 days in Indonesia from the date of initiation to the Investigating Authority. All submissions and requests made by interested parties must be sent both in written letter and in electronic format, and must indicate the name, address, e-mail address, telephone and fax number of the interested parties.”

    Further information is available in G/SG/N/6/IDN/45.

    What is a safeguard investigation?

    A safeguard investigation seeks to determine whether increased imports of a product are causing, or is threatening to cause, serious injury to a domestic industry.

    During a safeguard investigation, importers, exporters and other interested parties may present evidence and views and respond to the presentations of other parties.

    A WTO member may take a safeguard action (i.e. restrict imports of a product temporarily) only if the increased imports of the product are found to be causing, or threatening to cause, serious injury.

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    MIL OSI Global Banks –

  • MIL-OSI Banking: WTO advanced course on trade in services concludes in Geneva

    Source: WTO

    Headline: WTO advanced course on trade in services concludes in Geneva

    The LDCs participating in the course were Bangladesh, Madagascar, Lao People’s Democratic Republic, Nepal, Tanzania, The Gambia and Zambia. The acceding country was Bhutan. The full list of participating economies is available here.
    Over five days, participants engaged in an intensive curriculum designed to deepen their understanding of the WTO’s General Agreement on Trade in Services (GATS). The course covered the economic importance of services trade, domestic regulation, the impact of digital trade on economies’ trade performance, investment facilitation and environmental services. Participants were also able to analyze and formulate effective trade policies by gaining hands-on experience with analytical tools like the I-TIP database and services trade statistics.
    The programme included a mix of presentations, practical exercises and in-depth discussions on emerging trade in services issues. Participants were particularly engaged in sessions on the latest developments in digital trade and the regulatory challenges associated with services trade. Interactive sessions allowed participants to apply their know-how to real-case scenarios, reinforcing their capacity to navigate complex trade issues.
    Upon completing the course, Mr Hugo Ibarra said: “In my work at the Undersecretariat of Economic Affairs, which reports to Chile’s Ministry of Foreign Affairs, I am frequently in contact with the WTO for notifications of trade policies and other issues linked to the fulfilment of Chile’s WTO commitments. I also regularly refer to the GATS in our negotiation process for trade agreements. For these reasons, this type of course plays a very important role in our daily work.”
    Mr Kutubo Jarju, a participant from The Gambia’s Ministry of Trade, Industry, Regional Integration and Employment, said: “As a trade professional engaged in multilateral and regional trade negotiations, my primary expectation from this advanced course was to significantly deepen my expertise in the evolving services trade landscape. The course provided me with an enriched understanding of the current issues, challenges and opportunities of services trade, particularly in the context of global and regional agreements.”
    Ms Lavita Chan from Hong Kong, China’s Trade and Industry Department said: “I highly recommend the Advanced Trade in Services Course for government officials with services negotiation background and experience. Needless to say, the course contents were wide ranging, informative, up-to-date and inspirational. I was particularly impressed by the participants’ enthusiasm in sharing their points of view and domestic experience while the case studies and examples helped enrich our understanding and clarify complicated concepts. The participant-led reviews every morning were a very useful way to consolidate everything we learned and to promote teamwork.”
    The course was organized jointly by the WTO Trade in Services Division and the Institute for Training and Technical Cooperation.
    List of participants
    ARGENTINA
    Ms Estefania Donna
    BAHRAIN
    Ms Meead Alansari
    BANGLADESH
    Mr Saif Uddin Ahammad
    BHUTAN
    Mr Choki Tshewang
    CABO VERDE
    Ms Ludmilde Filomena Celso Silva Fernandes Semedo
    CHILE
    Mr Hugo Ibarra
    CHINA
    Ms Yi WANG
    C�TE D’IVOIRE
    Ms Mariam Deme
    ECUADOR
    Ms Estefania Anais Mejia Ramos
    HONG KONG, CHINA
    Ms Mo Ying Chan
    JORDAN
    Mr Qusai Al-Tarawneh
    KENYA
    Ms Elizabeth Gathoni Miguda-Alila
    LAO PDR
    Mr Nongchith Khambounheuang
    MADAGASCAR
    Mr Fetra Herisoa Ramankirahina
    MOROCCO
    Mr Othmane Maktoum
    NICARAGUA
    Ms Yeseila Baca Cuadra
    PAKISTAN
    Ms Onsia Zafar
    PHILIPPINES
    Mr Anthony Aguirre
    REPUBLIC OF KOREA
    Ms Aeseon Kim
    SEYCHELLES
    Ms Demelza Tanisha Nathalie Valentin
    SRI LANKA
    Mr Premathilake Jayakody Batagolle Gedara
    SURINAME
    Ms Urtha Charlane Hoever
    CHINESE TAIPEI
    Ms Yun-Xuan Lin
    TANZANIA
    Ms Angelina Stephen Bwana
    THE GAMBIA
    Mr Kutubo Jarju
    TUNISIA
    Ms Noura Ben Mohamed
    UKRAINE
    Mr Vitaliy Kunatenko
    ZAMBIA
    Ms Mbewe Chikondi

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    MIL OSI Global Banks –

  • MIL-OSI Submissions: Economy – Global Barometers declining this month – KOF

    Source: KOF Economic Institute

    The Global Barometers record a decline, but overall they are still in line with the tendency towards relative stability observed over the course of this year. The decline brings the Leading Barometer closer to the neutral level of 100 points, while the Coincident Barometer is moving away from this band.

    The Coincident Global Economic Barometer decreases 2.3 points in September, to 91.5 points, its lowest level since November 2023 (90.5 pts), while the Leading Barometer loses 2.6 points, to reach 100.6 points. The fall in the Coincident Barometer was entirely driven by the result of the Asia, Pacific & Africa region, whereas the result of the Leading Barometer was driven by the three surveyed regions.

    “Although both global indicators show a decline this month, it can still be said that both have generally been relatively flat for more than a year. The leading indicator remains in much better shape than the coincident indicator, suggesting that hopes for an improvement in the subdued situation remain alive. Only the Asia-Pacific and Africa regions continue to deteriorate slowly, while Europe and the Western Hemisphere largely offset this development”, evaluates Jan-Egbert Sturm, Director of KOF Swiss Economic Institute.

    Coincident Barometer – regions and sectors

    The fall in the Coincident Barometer in September is the result of the 2.5-point negative contribution of the Asia, Pacific & Africa region, while the contributions from Europe and the Western Hemisphere were barely noticeably positive with 0.1 points each. With this result, the indicator for the Asia, Pacific & Africa region moves further away from the other regions and reinforces the slowdown in the region in 2024. While the Asia, Pacific & Africa region records accumulated losses of 6.0 points for the year, Europe and the Western Hemisphere accumulate gains of 6.4 and 4.5 points, respectively.

    The development of the Coincident sector indicators in September is varied, with some sectors showing positive results and others negative tendencies. Industry, Economy (aggregated business and consumer evaluations), and Construction decrease this month, while Services and Trade move in the opposite direction.

    Leading Barometer – regions and sectors

    The Leading Global Barometer leads the world economic growth rate cycle by three to six months on average. In September, all the regions contribute negatively to the aggregate result with -1.0, -0.9, and -0.7 points for the Western Hemisphere, the Asia, Pacific & Africa region, and Europe, respectively. The lukewarm result since the second quarter of the year is spread across the three regions, and its continuity also signals weak growth in world economic activity for the second semester of 2024.

    In September, all the Leading sector indicators decrease, with the exception of Trade, which gains 2.9 points and remains at the highest level among the sectors.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: African Youth Urged to Embrace Engineering to drive development

    Source: Media Fast

    “Africa’s future depends on its youth embracing engineering, which lies at the core of solving the continent’s most pressing challenges” – Eng. Maureen Mwaniki, Director of Public Affairs and Policy at Huawei Kenya.

    September 13, 2024 – Africa’s youth have been called upon to embrace engineering as a key driver of development and innovation across the continent.

    Speaking at the 10th annual UNESCO Africa Engineering Week – High-Level Workshop held in Nairobi – Kenya on September 12, 2024, Eng. Maureen Mwaniki, Director of Public Affairs and Policy at Huawei Kenya, said the shortage of engineers in Africa, and the rest of the world was a cause for concern.

    “There has been declining interest in the profession from the youth, with the enrolment of young people, especially women in the profession dwindling. The continent is facing a situation where there are a lot of older more experienced engineers, but not enough young candidate engineers entering the profession. Our ability to sustain the profession lies in the number of young people choosing engineering as a career,” Eng. Mwaniki said.

    She noted that Africa’s future depends on its youth embracing Science, Technology, Engineering and Mathematics (STEM) education, particularly engineering, which lies at the core of solving the continent’s most pressing challenges.

    “The growing need for infrastructure, clean energy, and climate resilience offers a unique opportunity for engineers to shape Africa’s path toward sustainable growth.  But more efforts need to be put in attracting younger people, especially women, to the profession,” Eng. Mwaniki said.

    “Women, in particular, need to step out of their comfort zones and grab the opportunities that are offered by companies such as Huawei. Programs like Seeds for the future, ICT Competition, Women Collaboration programs with our partners, etc will help expose the Women Engineers to advanced technologies that can enable them to create solutions for their country.”

    The Africa Engineering Week provides a platform for government representatives, industry leaders, and academia to discuss policy frameworks and partnerships that can accelerate engineering education and innovation on the continent.

    Celebrated across the region every year, UNESCO Africa Engineering Week promotes engineering solutions and awareness among students, society and policy-makers. It aims to inspire and educate youth and the public on the vital role of engineers in societies.  

    This year’s edition is hosted by the Ordem dos Engenheiros de Angola in Luanda, Angola, and organised jointly by UNESCO, the World Federation of Engineering Organizations (WFEO) and the Federation of African Engineering Organisations (FAEO).

    It will include the 8th Africa Engineering Conference, the 7th Africa Women Engineers Forum, the Young Engineers Forum and a Business-to-Business (B2B) session. These events will focus on sustainability and innovative infrastructures; engineering and acceleration of African Continental Free Trade Area (AfCFTA) implementation; and engineering education and capacity building.

    “This year’s theme, ‘Engineering and for Sustainable Development’, highlights the urgent need for technical solutions to address challenges such as climate change, infrastructure development, and digital transformation,” Eng. Mwaniki said.

    MIL OSI – Submitted News –

  • MIL-OSI USA News: Remarks by Vice President Harris at the Congressional Hispanic Caucus Institute’s 47th Annual Leadership  Conference

    Source: The White House

    Ronald Reagan Building and International Trade Center
    Washington, D.C.

    12:48 P.M. EDT

    THE VICE PRESIDENT:  Good afternoon.  Good afternoon.  Good afternoon, everyone.  (Applause.)  Thank you, thank you, thank you.  Thank you.  (Applause.) Good afternoon.  Please have a seat.  Please have a seat.  Please have a seat.

    Oh, it’s good to see so many friends.

    AUDIENCE:  We love you!

    THE VICE PRESIDENT:  Oh, I love you back.  (Applause.)

     I want to recognize Chair Barragán — where are you? — my dear friend, fellow Californian.  I want to thank you for all that you do — (applause) — and all that you have done.

    CHCI Chair Espaillat, thank you for all that you are.  He — you know, I — he spent — both of them have spent time with me at my house, and we’ve — we’ve shared a lot of good stories together and — and many meals together.  And I just want to personally thank them both, because they really, as you know, are extraordinary people and extraordinary leaders and they do so much on behalf of so many.  So, thank you both for your leadership and for hosting me this afternoon.

    And to all the incredible leaders here, it is an honor to be with you again.

    And to everyone, happy Hispanic Heritage Month — (applause) — which, in my book, is every month of the year.  (Laughs.)  (Applause.) 

    So, this is a room of long-standing friends.  And many of you know my background.  My mother arrived in the United States when she was 19 years old by herself.  And I spoke about it recently, actually.  You know, my mother — I was the eldest child.  And as the eldest child, those of us who are, you know you see a lot of things in terms of what your parents go through. 

    And I would often see how my mother was treated.  She was a five-foot-tall brown woman with an accent.  And I would see how the world would sometimes treat her.

    I’m going to tell you something, and this where I come from.  My mother never lost her cool.  She never defined her sense of dignity based on how others treated her.  She was a proud woman.  She was a hardworking woman.  She had two goals in her life: to raise her two daughters — my sister Maya and me — and to end breast cancer.  She was a breast cancer researcher. 

    And growing up, our mother taught us certain fundamental values: the importance of hard work; the power of community; and the responsibility that we have to not complain about anything, much less injustice.  Right?  Because “why are you complaining about it,” she would say.  “Do something about it.”  And that’s how I was raised: Do something about it.

    And those values have guided me my entire career, from, as you heard, being a young courtroom prosecutor in Oakland, California — (applause). 

     AUDIENCE MEMBER:  Bay Area! 

    THE VICE PRESIDENT:  Wh- — Bay Area.  (Laughter.)  106.1 KMEL.  (Laughs.)  (Applause.)  That was our local radio station for hip-hop.  (Laughter.)

    But doing that work — you know, part of the background on why I became a prosecutor was actually when I was in high school, I learned that my best friend was being abused — being molested by her stepfather.  And when I learned about it, I told her she had to come and live with us.  And I called my mother, and my mother said, “Of course she does.”  And she did.

    And so, I decided I wanted to start a career and do the work of — in part, just doing the work of making sure that we protect the most vulnerable.

    And so, I started my career as a courtroom prosecutor and took on those who would be predators against the most vulnerable.

    As attorney general of California, I took on the big banks and delivered $20 billion for homeowners who were middle-class families who faced foreclosure because of predatory lending practices.  I stood up for veterans and students who were being scammed by the big for-profit colleges, knowing the — and many of whom were — had an immigrant background and were just simply

    trying to — to do the best they could to invest in themselves and their family for their future and — and the subject of — of awful scams.

     I have stood up, in my career, for workers who were being cheated out of the wages they were due and for seniors who have faced elder abuse. 

     And I say all that to say: When I stand here before you today, this is not just something that I decided to do but really is about a lifelong career that has been about fighting for the people — for the people.

    And for years, I have been proud to fight alongside the members and the leaders of this incredible caucus — (applause) — in almost all of that work.  And the work we have done together has been about so much I just talked about.  It has been about defending workers’ rights.  It has been about expanding health care for more Americans, including DREAMers.  (Applause.)  It has been about forgiving billions of dollars in student loan debt, including for many of the folks that we know — friends, relatives — who, again, have been burdened by that heavy debt and just needed to be seen — teachers, firefighters, nurses. 

     The work we have done together has been to create the National Museum of the American Latino and — (applause) — and, of course, last year, I was proud to be with a lot of the leaders here in Houston for the CHC On the Road tour.  (Applause.)

     So, I say that to say that, CHC, our work together has always been guided by shared values and by a shared vision.  However, at this moment, at this moment, we are confronting two different — very — very different — visions for our nation: one focused on the past; the other, ours, focused on the future.  

    We fight for a future for affordable health care, affordable childcare, and paid leave.  We fight for a future where we build what I call an “opportunity economy,” understanding that the people of our country, the people we know, have extraordinary ambition and aspirations and dreams of what they can be, what they can do, are prepared to do the hard work and put that hard work in, but don’t necessarily always have access to the opportunities to achieve and realize those goals.

     So, I see an America where everyone has an opportunity to own a home, to build wealth, to start a business. 

     I believe in a future — we, together, believe in a future where we lower the cost of living for America’s families so that people have an opportunity not just to get by but to get ahead. 

     And so, with the work we have done together and going forward, we will continue to lower the cost of groceries, for example, by taking on something that I think is very important to deal with, which is price gouging on behalf of big corporations.  (Applause.)

     You know, I’ve — I’ve seen that happen before.  Many of you who — who have — and are coming from states where y- — we’ve seen extreme weather conditions — in California, wildfires, and other parts of the country — or even in the pandemic, where people are desperate because of these kinds of emergencies, desperate for support.  And then some, you know, corporation — and it’s very few of them that do this — but then jack up prices to make it more difficult for desperate people to just get by.  We need to take that on.

    We need to lower the cost of housing.  We don’t have enough housing in our country.  The supply is too low, and it’s too expensive both for renters and for folks who want to buy a home.  So, we will build together millions of new homes and give first-time homebuyers $25,000 in down payment assistance.  (Applause.) 

    Because, look, people just want to get their foot in the door.  I — my mother worked hard.  She saved up.  It wasn’t until I was a teenager that she was able to buy our first home.

    And the American dream is elusive for far too many people increasingly.  And that’s why it is part of my perspective that’s let’s just do the work of giving first-time homebuyers a $25,000 down payment assistance.  (Applause.)  Let them get their foot in the door.

    We need to lower the cost of health care and continue to take on Big Pharma and cast the — cap the cost of prescription medications, yes, for our seniors, which we have done together, but for all Americans.  Because when we look at drugs like insulin, everyone here knows — first of all, Latinos are 70 percent more likely to be diagnosed with diabetes.  And with the support of the CHC, we were able to cap the cost of insulin at $35 a month for our seniors.  (Applause.)

    In fact, recently, I was in Nevada.  I’m — I’m in these streets.  Let me tell — I’m everywhere.  (Laughter.)  But I was recently in Nevada, and a woman came up to me with tears in her eyes, and she showed me the receipts for her mother’s insulin.  And it used — she show- — and I was — she showed me many papers, and I said, “Tell me what these are.”  And she said, “Well, these are the receipts, and I want you to see where it used to cost us hundreds if not a thousand dollars a month, but no more.” 

    The work we are doing together, the very purpose of CHC and all of the leaders here includes have a real impact on real people.  And I have the blessing of being able to travel our country and see it every day.  It’s extraordinary work that is happening because of the leaders here.

    We, because of our work together, have finally given Medicare the power to negotiate lower drug prices with Big Pharma. 

    And understand, if my opponent, Donald Trump, wins, his allies in Congress intend to end Medicare and end Medicare’s negotiating power.  As they remind us again this week, they are essentially saying — check this out, because if — because, you know, you have to ask why, right?  So, why would you want to end Medicare’s negotiating power against Big Pharma?  And essentially, they’re saying that it’s not fair to Big Pharma.  (Laughs.)  That’s essentially what they’re saying.

    But I’ll tell you what’s not fair.  What’s not fair is that our seniors for too long have had to cut pills in half because they cannot afford their full medication.  (Applause.)  That’s not fair.  It’s not fair that our seniors have had to choose between filling their prescriptions and putting food in their refrigerator or paying their rent.  That’s not fair. 

    And that’s why we will continue to do our work together, including fight Project 2025, an agenda that would cut Medicare and increase the cost of health care in our country.  (Applause.)  Because we stand with the people and on the side of the people. 

    We will cut taxes for working families, including restoring and expanding the Child Tax Credit.  (Applause.)  Because we know this is the kind of work that must happen if we are to be true to our values and be true to understanding that — that parents, in particular young parents, need that support.  We — when we — when we extended the Child Tax Credit, cut child poverty by 50 percent — by half.  Think about what that meant for so many families.

     The vast majority of parents have a desire to raise their children well.  They love their children but don’t necessarily have the resources to do everything their child needs.  I grew up understanding the children of the community are the children of the community, and we should all have a vested interest in ensuring that children can go — grow up with the resources that they need to achieve their God-given potential.

     So, I know where I come from.  And we have to always put — and I know CHC agrees with this, and this is part of our collective life’s work — we have to put the middle class first; we have to put working families first, understanding their dreams and their desires and their ambitions deserve to be invested in and it will benefit everyone.  (Applause.)

    And together, CHC, we must also reform our broken immigration system — (applause) — and protect our DREAMers and understand we can do both — create an earned pathway to citizenship and ensure our border is secure.  We can do both and we must do both.  (Applause.)

     And while we fight to move our nation forward to a brighter future, Donald Trump and his extremist allies will keep trying to pull us backward.  We all remember what they did to tear apart families.  And now they have pledged to carry out the largest deportation — a mass deportation — in American history.  

     Imagine what that would look like and what that would be.  How is that going to happen?  Massive raids?  Massive detention camps?  What are they talking about?

     They also will give billions of dollars of tax cuts to billionaires and corporations — massive tax cuts; pardon January 6th perpetrators who attacked our Capitol, not far from here.  They would cut Social Security and Medicare.  They intend to end the Affordable Care Act and threaten the health care of more than 5 million Latinos in our country.  All based on — I’m sure many of you saw the debate — (applause) — so, on that point about the Affordable Care Act — all based on “concepts of a plan.”  (Laughter and applause.)  “Concepts.”  “Concepts.”

     Their Project 2025 agenda would pull our nation backward.  But we are not going back.  We are not going back.  (Applause.)  We are not going back. 

    Instead, together, we will chart a new way forward because ours is a fight for the future.  And it is a fight for freedom — the freedom to vote, the freedom to be safe from gun violence, the freedom to live without fear of bigotry and hate, the freedom to love who you love openly and with pride, and the freedom of a woman to make decisions about her own body — (applause) — and not have her government telling her what to do.  (Applause.)  

    And understand, on that last point, how we got here.  Everyone here knows.  Donald Trump hand-selected three members of the United States Supreme Court with the intention that they would do just what they did, which is to overturn the protections of Roe v. Wade.  And now, in more than 20 states, we have a Trump abortion ban, which criminalized health care providers — in one state, providing prison for life.

    You guys may have heard the story — many here — about the stories about — the horrendous most recent story is about what happened in Georgia.

     Many of these Trump abortions bans that make no exception for rape or incest, it’s immoral.  It’s immoral.

     And today, 40 percent of Latinas in America live in a state with a Trump abortion ban. 

     So, imagine if she is a working woman — understand that the majority of women who seek abortion care are mothers — understand what that means for her.  So, she’s got to now travel to another state.  God help her that she has some extra money to pay for that plane ticket.  She’s got to figure out what to do with her kids.  God help her if she has affordable childcare.  Imagine what that means.

    She has to leave her home to go to a airport, stand in a TSA line — like, think about this.  You know, everybody here is — is — you’re policy leaders.  I always say to my team, especially the young people I mentor, on any public policy, you have to ask, “How is this going to affect a real person?”  Ask how it would affect a real people.  Go through the details.

     So, she’s got to stand in a TSA line to get on a plane, sitting next to a perfect stranger, going to a city where she’s never been, to go and receive a medical procedure.  She’s going to have to get right back to the airport, because she — got to get back to those kids.  And it’s not like her best friend can go with her, because the best friend is probably taking care of the kids.  All because these people have decided they’re in a better position to tell her what’s in her best interest than she is to know.
        
     It’s just simply wrong.

    And I think we all know one does not have to abandon their faith or deeply held beliefs to agree the government should not be telling a woman what to do.  If she chooses — (applause) — if she chooses, she will talk with her priest, her pastor, her rabbi, her imam, but not the government telling her what to do.

     And I pledge to you, when CHC helps pass a law to restore reproductive freedoms, as president of the United States, I will proudly sign it into law.  (Applause.)  Proudly.  Proudly. 

     So, friends, we have some work to do — in fact, a lot of hard work ahead of us.  But we like hard work.  Hard work is good work.  Hard work is joyful work, I say.  And I truly believe that America is ready to turn the page on the politics of division and hate. 

    And to do it, our nation is counting on the leaders here, your power, your activism.  And so, I thank you in advance for your work to register people to vote and get people to the polls.  Each of us has a job to do.

    As we celebrate this month, we know we stand on broad shoulders of people before us who have passed us now the baton — those heroes who fought for freedom who have now passed the baton onto us.

         And the bottom line is: We know what we stand for, so we know what to fight for.  And when we fight —

         AUDIENCE:  We win.

         THE VICE PRESIDENT:  — we win.

         God bless you.  And God bless the United States of America.  Thank you.  (Applause.)

                                 END                1:08 P.M. EDT

    MIL OSI USA News –

  • MIL-OSI Canada: Apprenticeship Day: Minister Sawhney

    Source: Government of Canada regional news

    “Every year in Alberta, we celebrate Apprenticeship Day on the fourth Monday in September to recognize the value of apprenticeship education and the people who work in the skilled trades. We have so much to celebrate, this year more than ever.

    “The skilled trades workforce plays a vital role in the growth and prosperity of our great province. To maintain this momentum, our government is fostering enthusiasm for apprenticeship education and supporting initiatives that encourage more Albertans to consider rewarding careers in the skilled trades.

    “Albertans rely on the excellence of our skilled trades professionals every day, and apprenticeship education is the foundation that builds that excellence. Apprentices develop the skills to not only succeed in today’s job market, but also to advance and lead, seizing new opportunities as industries evolve and potentially growing into entrepreneurial roles or business ownership. They also earn a paycheque while they learn, and they graduate with a career already established.

    “As the world around us changes, the need for skilled tradespeople becomes more critical than ever. To ensure Alberta stays ahead, we established Skilled Trades Youth Ambassadors earlier this year. This program empowers young adults from across Alberta to share ideas and concerns with our government to find the best solutions.

    “On this Apprenticeship Day, I extend a big thank you to Alberta’s apprentices, instructors, mentors and industry partners, who are some of the most brilliant and inspiring individuals in the world. I also want to thank the Alberta Board of Skilled Trades, the Premier’s Council on Skills, and the Skilled Trades Caucus. Your role in shaping the future workforce is greatly appreciated.”

    Rajan Sawhney, Minister of Advanced Education

    Related information

    • Become an apprentice in Alberta
    • Apprenticeship and Industry Training
    • Skilled Trades Youth Ambassadors

    Related news

    • New campaign promotes Alberta’s skilled trades (Sept. 6, 2024)

    MIL OSI Canada News –

  • MIL-OSI United Nations: Thirty-fourth Session of the Working Party on Regulatory Cooperation and Standardization Policies (WP.6)

    Source: United Nations Economic Commission for Europe

    Document Title

    ENG

    FRE

    RUS
    Item 1: Adoption of the agenda      
    Provisional agenda for the thirty-fourth session
    ECE/CTCS/WP.6/2024/1    		 PDF PDF PDF
    Item 2: Matters arising      
    Report from the Bureau of Working Party 6
    ECE/CTCS/WP.6/2024/INF.1    		 PDF    
    The Basics of Quality Infrastructure for Trade
    ECE/TRADE/478    		 PDF    
    Report of third annual forum: Quality infrastructure for trade and the digital and green transformation
    ECE/CTCS/WP.6/2024/3    		 PDF PDF PDF
    Item 3: Group of Experts on Risk Management in Regulatory Systems      
    Report of activities under the Group of Experts on Risk Management in Regulatory Systems 2023–2024
    ECE/CTCS/WP.6/2024/4    		 PDF PDF PDF
    Survey on integrated risk management in single window systems: Best practices and challenges
    ECE/CTCS/WP.6/2024/5    		 PDF PDF PDF
    Initial findings on the survey on integrated risk management in single window systems
    ECE/CTCS/WP.6/2024/INF.2    		 PDF    
    Item 4: Team of Specialists on Gender-Responsive Standards      
    Report of activities of the Team of Specialists on Gender-Responsive Standards 2023–2024
    ECE/CTCS/WP.6/2024/6    		 PDF PDF PDF
    Guide for standards-related gender action plans
    ECE/CTCS/WP.6/2024/7    		 PDF    
    Item 5: Advisory Group on Market Surveillance      
    Report of activities under the Advisory Group on Market Surveillance 2023–2024
    ECE/CTCS/WP.6/2024/8    		 PDF PDF PDF
    Revision of Recommendation M: Use of Market Surveillance Infrastructure as a Complementary Means to Protect Users against Counterfeit Goods
    ECE/CTCS/WP.6/2024/9    		 PDF PDF PDF
    Recommendation K on Metrological Assurance of Conformity Assessment and Testing, Third Edition
    ECE/TRADE/482    		 PDF PDF PDF
    Item 6: Ad Hoc Team of Specialists on Standardization and Regulatory Techniques      
    Report on activities under the Ad Hoc Team of Specialists on Standardization and Regulatory Techniques 2023–2024
    ECE/CTCS/WP.6/2024/10    		 PDF PDF PDF
    Overarching common regulatory arrangement for the regulatory compliance of products and/or services with embedded artificial intelligence or other digital technologies
    ECE/CTCS/WP.6/2024/11    		 PDF PDF PDF
    Declaration for technical regulation of products with embedded artificial intelligence
    ECE/CTCS/WP.6/2024/12    		 PDF PDF PDF
    Revision of Recommendation L on an International Model for Product/Service Conformity Based on Transnational Regulatory Cooperation
    ECE/CTCS/WP.6/2024/13    		 PDF PDF PDF
    Report of the 5 April 2024 conference on harmonizing regulatory requirements on pipeline security for hydrogen
    ECE/CTCS/WP.6/2024/INF.3    		 PDF    
    Item 7: Programme of work      
    (a) Report on capacity building      
    (b) Programme of work for 2025      
    Programme of work of the Working Party on Regulatory Cooperation and Standardization Policies for 2025
    ECE/CTCS/WP.6/2024/14    		 PDF PDF PDF
    (c) Activities of other United Nations Economic Commission for Europe bodies and other international organizations of interest to WP.6      
    Item 8: Panel discussion: Quality infrastructure helping to prevent a green and digital divide – identifying challenges for capacity development for sustainable trade in developing economies      
    Item 9: Other business      
    Item 10: Adoption of the report      
    Report on the thirty-fourth session of the Working Party on Regulatory Cooperation and Standardization Policies
    ECE/CTCS/WP.6/2024/2

    PDF

    		    

    MIL OSI United Nations News –

  • MIL-OSI United Kingdom: UN Human Rights Council 57: UK Statement for Commission of Inquiry on Ukraine

    Source: United Kingdom – Executive Government & Departments

    UK Statement for the Interactive Dialogue with the Commission of Inquiry on Ukraine. Delivered by the UK’s Permanent Representative to the WTO and the UN, Simon Manley.

    Location:
    Geneva
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    Thank you, Commissioners, for your update which as ever is all the more shocking and compelling for its sobriety and precision  

    As you make clear, Russia continues to commit appalling atrocities against the Ukrainian people.

    It’s indiscriminate attacks on civilian targets have intensified dramatically. August and July saw the highest number of civilian casualties in 2024. 

    Thousands of deported Ukrainian children remain in Russia.  We will not know the exact number or whereabouts of these children until Russia shares this information.

    Your update only reinforces the already overwhelming evidence of the systematic and widespread use of torture against Ukrainian detainees, including sexual violence. We have also seen reports of POWs being executed in the most barbaric manner.

    Three volunteers from the International Committee of the Red Cross were tragically killed in Donetsk this month.

    Soon we will mark two years since Russia’s attempted annexation of four oblasts in eastern Ukraine. Those living under

    Updates to this page

    Published 23 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Construction Week Proclaimed in Saskatchewan

    Source: Government of Canada regional news

    Released on September 23, 2024

    Week Highlights Construction Sector’s Role in Economic Growth 

    The Government of Saskatchewan has proclaimed September 23 to 27 as Saskatchewan Construction Week. The week has been proclaimed to celebrate the extensive economic and social contributions made by the province’s dynamic construction industry. 

    “Saskatchewan’s construction industry is not only a major contributor to jobs in the province, but also plays a crucial role in building the infrastructure necessary for a growing economy,” Trade and Export Development Minister Jeremy Harrison said. “As we work toward achieving and surpassing our Growth Plan goals of growing the provincial population to 1.4 million people and creating 100,000 new jobs, the construction industry will further excel this growth by building the offices, facilities, housing and more which contribute to our strong and vibrant communities.” 

    The construction industry in Saskatchewan is a key driver of economic growth. Last year, real GDP for the sector grew by 13.6 per cent, with the sector’s real GDP reaching $6 billion. Currently, there are over 43,000 (seasonally adjusted) people employed in the province’s construction industry, making it one of the most important economic sectors in Saskatchewan in terms of job creation. 

    “During Saskatchewan Construction Week, we celebrate the dedicated professionals who form the backbone of our province’s economy,” Construction Associations of Saskatchewan co-CEO Shannon Friesen said. “These skilled workers, often behind the scenes, build the infrastructure that drives our communities forward.” 

    “Their contributions are vital, not just in constructing roads, schools, and hospitals, but in shaping the very foundation of our future,” Construction Associations of Saskatchewan co-CEO Kevin Dureau said. “This week, we honour their commitment, resilience, and the essential role they play in ensuring Saskatchewan remains strong and prosperous.” 

    The growth the construction industry has experienced recently has had an overall positive impact on Saskatchewan’s economy, with Statistics Canada’s latest GDP numbers indicating that the province’s 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion, or 1.6 per cent. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.

    Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.

    The Government of Saskatchewan also recently unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential investors and solidifies the province as the best place to do business in Canada. 

    For more information visit InvestSK.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI: QUADIENT: H1 2024 results: Solid 3.2% reported revenue growth and sharp improvement in profitability from Digital

    Source: GlobeNewswire (MIL-OSI)

    H1 2024 results: Solid 3.2% reported revenue growth
    and sharp improvement in profitability from Digital

    Key highlights

    • H1 2024 consolidated sales of €534 million, up +3.2% on a reported basis including the contribution of the latest acquisitions (Daylight and Frama) and up +0.8% organically(1)
    • H1 2024 subscription-related revenue up +0.7% on an organic basis, representing 72% of total revenue
    • Strong performance from North America at +2.8% organic growth in H1 2024, representing 58% of Group Sales
    • H1 2024 EBITDA of €111 million, up 2.6% organically, primarily driven by a strong increase in profitability in Digital
    • H1 2024 Group current EBIT of €61 million, up 0.3% organically
    • Net attributable income of €24 million
    • Leverage ratio excluding leasing reduced to 1.6x2
    • FY 2024 outlook confirmed
    • Launch of share buyback program for up to €30 million

    Paris, 23 September 2024

    Quadient S.A. (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, , today announces its 2024 second-quarter consolidated sales and first half results (period ended on 31 July 2024). The first-half 2024 results were approved by the Board of Directors during a meeting held on 20 September 2024.

    Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated:

    “Quadient achieved a solid performance in the first half of 2024, setting a good start to the execution of our new strategic plan, ‘Elevate to 2030’, which aims at delivery €1 billion of subscription-related revenue by 2030. The various modules of our SaaS communication and financial automation platform are further recognized for their technical specificities as well as for their ease of use, reflecting our strong customer centric approach. Our highly recurring business model continues to be fueled by good results in both cross-selling and up-selling our solutions, by the strong outperformance of our Mail business as well as by a solid volume increase within our European parcel lockers open networks.

    In parallel, the profitability of our Digital business has sharply increased. Indeed, our Digital EBITDA margin gained 6 points compared to the first half of 2023, demonstrating our commitment to strengthen our investment proposition. Confident in our value-creation potential and in our capacity to achieve our short- and long-term guidance, including our 2026 leverage target, we are announcing today a share buy-back program aimed at improving the return to our shareholders. More than ever, our objective is to accelerate our existing growth trajectory and propel Quadient as the leader in intelligent automation.”

    Comments on H1 2024 performance

    Group sales came in at €534 million in H1 2024, a 3.2% increase on a reported basis, and 0.8% organic growth compared to H1 2023 in line with Quadient’s expectations. The reported growth includes a positive currency impact of €1 million and a positive scope effect of €12 million, which is related to the acquisition of Daylight in September 2023 and to the acquisition of Frama in February 2024. In Q2 2024, organic revenue growth reached 0.6% compared to Q2 2023.

    Consolidated sales and EBITDA by solution

    H1 2024 consolidated sales

    In € million H1 2024 H1 2023
    restated(a)    		 Change Organic change
    Digital 130 120 +8.3% +5.9%
    Mail 362 353 +2.5% (0.5)%
    Lockers 43 45 (4.7)% (2.5)%
    Group total 534 517 +3.2% +0.8%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 revenue from the aforementioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

    EBITDA and EBITDA margin

      H1 2024 H1 2023 restated (a)
    In € million EBITDA EBITDA margin EBITDA EBITDA margin
    Digital 20 15.7% 11 9.3%
    Mail 94 25.8% 102 29.0%
    Lockers (3) (6.7)% (1) (3.0)%
    Group total 111 20.8% 112 21.7%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 EBITDA from the aforementioned subsidiary is not represented in the consolidated EBITDA of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

    Digital

    In H1 2024, revenue from Digital reached €130 million, up 5.9% organically (+5.8% in Q2 2024 vs. Q2 2023) and up 8.3% on a reported basis (including the contribution from Daylight) compared to H1 2023. Importantly, growth for the Solution was still impacted by the delay in the implementation of two large contracts, announced in Q3 2023.

    At the end of H1 2024, annual recurring revenue (ARR), which is a forward-looking indicator of future subscription-related revenue, reached €221 million, up from €206 million at the end of FY 2023, representing a 15.3% organic(3)growth on an annualized basis.

    In H1 2024, subscription-related revenue recorded a strong 8.7% organic growth, now representing 82% of Digital total sales, a further increase compared to 80% in H1 2023. The share of SaaS customers stands at 83% at the end of H1 2024.

    EBITDA for Digital was €20 million for the period, representing a 15.7% EBITDA margin, up 6.4 points compared to H1 2023. Strong improvement in profitability continues, supported by the combination of subscription-related revenue growth, and platform size benefits, despite further commercial and innovation investments. The profitability is expected to continue improving in FY 2024.

    As part of the customer acquisition focus, Digital continues to experience strong commercial dynamics, supported by solid cross-selling with Mail including some large deals (notably one deal above USD1 million) in North America. Digital is benefiting from a positive start to Q3 2024 thanks to a new large deal with a US insurance company worth more than USD7 million over 5 years. Regarding the upcoming e-invoicing regulation in Europe, Quadient is now officially registered as a Partner Dematerialization Platform in France.

    As part of the customer expansion process, the onboarding of all eligible customers on the Quadient Hub is now completed. Focus continues on further increasing up-selling. New partnerships, notably with Microsoft business central, Sage200 (ERP solutions) and Stripe (payment solution), have also been signed. Lastly, the churn rate in Digital continues to decline, now standing well below 5%.

    Mail

    Mail revenue reached €362 million in H1 2024, down only 0.5% on an organic basis (-0.8% in Q2 2024 vs. Q2 2023). The reported growth stood at +2.5%, including the contribution of Frama.

    Hardware sales recorded a 4.8% organic growth in H1 2024, with strong contributions from North America, including a positive impact from decertification. The focus on investing into renewing the products offering continues to support product placements, as seen in the further increase in the share of the upgraded installed base, reaching 36.6% at the end of H1 2024 vs. 31.5% at the end of FY 2023.

    Subscription-related revenue (68% of Mail sales) recorded a limited 2.8% organic decline in H1 2024.

    EBITDA for Mail was €94 million for H1 2024. EBITDA margin reached 25.8%, down 3.2 points compared to H1 2023. The level of EBITDA margin of Mail was impacted by the higher proportion of revenue from equipment sales as well as by the dilution due to Frama acquisition, which performance is expected to improve significantly from 2025.

    Thanks to its strong customer acquisition focus, Quadient’s Mail business continues to outperform the market. The commercial performance is expected to be resilient in Q3 2024. On the acquisition side, the aim is to upgrade the installed base.

    As part of the customer expansion focus, the cross-selling remains solid, especially in the US, with several large contracts signed. Lastly, Mail benefited from the positive impact of the ongoing US mailing systems decertification.

    Lockers

    Lockers revenue reached €43 million in H1 2024, a 2.5% decrease on an organic basis (-1.8% in Q2 2024 vs Q2 2023) and a 4.7% decrease on a reported basis compared to H1 2023.

    Subscription-related revenue was up 5.3% organically in H1 2024, benefiting from the solid volumes ramp up within the UK and the French open networks, as well as the contribution of the existing installed base, supported by the higher number of carriers committed to use Quadient’s open networks. However, change in commercial agreements with Yamato in Japan in Q3 2023 leading to a greater focus on usage as opposed to a rental-based model, continues for now to weigh on the subscription-related revenue. Overall, subscription-related revenue stood at 65% of total revenue in H1 2024, up from 61% in H1 2023.

    Non-recurring revenue (license & hardware sales and professional services) were down 15.1% organically in H1 2024. Hardware sales were still impacted by slower new installations in North America.

    Quadient’s global locker installed base reached c.21,400 units at the end of H1 2024 vs. c.20,200 units at the end of FY 2023. This is reflecting an acceleration in the pace of installation of new lockers, notably in the UK, fueled by the partnerships signed by Quadient to host parcel lockers in new suitable locations.

    EBITDA for Lockers was negative at €(3) million in H1 2024. EBITDA margin stood at (6.7)%, down by 3.7 points. The decrease in EBITDA margin was mainly due to the negative impact from the change in commercial agreement with Yamato for the Japanese installed base at the start of H2 2023.

    As part of the customer acquisition focus, Quadient is accelerating the installation pace for lockers in the open networks in Europe, mostly in France and in the UK. This is supported by the additional deals signed for premium locations and conversion of existing lockers. Conversely, the trend remains slow in North America.

    As part of the customer expansion focus, volume increased strongly from both pick-up and drop-off in the open networks. The lockers business is also fueled by innovation in usage offerings, notably with new partnership with KeyNest in the United Kingdom, bringing additional volumes into the open network.

    REVIEW OF 2024 FIRST HALF-YEAR RESULTS

    Simplified P&L

    In € million H1 2024 H1 2023 restated (a) Change
    Sales 534 517 +3.2%
    Gross profit 399 387 +3.2%
    Gross margin 74.4% 74.8%  
    EBITDA 111 112 (1.1)%
    EBITDA margin 20.8% 21.7%  
    Current EBIT 61 65 (6.0)%
    Current EBIT margin 11.5% 12.6%  
    Optimization expenses and other operating income & expenses (16) (6) n/a
    EBIT 45 59 (24.4)%
    Financial income/(expense) (21) (16) +32.3%
    Income before tax 24 43 (45.4)%
    Income taxes 2 (6) n/a
    Net income of continued operations 26 37 (31.0)%
    Net income from discontinued operations (1) (0) n/a
    Net attributable income 24 36 (32.8)%
    Earnings per share 0.71 1.05 n/a
    Diluted earnings per share 0.71 1.05 n/a
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 contribution from the aforementioned subsidiary is not represented in the consolidated P&L of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.

    Gross margin stood at 74.4% in H1 2024 from 74.8% in H1 2023, due to slightly higher cost of sales and the impact of Frama integration.

    EBITDA(4) for the Group reached €111 million in H1 2024, almost flat compared to H1 2023. Organically, the EBITDA grew by 2.6%, thanks to a solid increase at Digital offsetting a weaker EBITDA performance in Mail. EBITDA margin stood at 20.8% in H1 2024, vs 21.7% in H1 2023.

    Depreciation and amortization stood at €50 million in H1 2024, compared to €47 million in H1 2023. This is mainly due to slightly higher amortization of Lockers’ capex for rent.

    Current operating income (current EBIT) reached €61 million in H1 2024 compared to €65 million in H1 2023, down 6.0% on a reported basis and up 0.3% on an organic basis. Current operating margin stood at 11.5% of sales in H1 2024 compared to 12.6% in H1 2023.

    Optimization costs and other operating expenses stood at €16 million in H1 2024, versus €6 million in H1 2023 which was impacted by the write-off of an IT project and additional office optimization in the United States and the United Kingdom.

    Consequently, EBIT reached €45 million in H1 2024, versus €59 million recorded in H1 2023.

    Net attributable income

    Net cost of debt was up year-on-year at €20 million, against €15 million in H1 2023, impacted by higher interest rates on the variable portion of the debt (one third of Quadient’s debt). The currency gains & losses and other financial items was a loss of €(1) million in H1 2024, stable vs. H1 2023. Overall, net financial result was a loss of €21 million in H1 2024 compared to a loss of €16 million in H1 2023.

    Income tax reached a €2 million profit in H1 2024, benefitting from the positive impact of internal IP transfers. It compares to an expense of €6 million in H1 2023.

    Net income from discontinued operations of the Mail Italian subsidiary amounts to €(1) million, including additional fees related to the ongoing sale process for this subsidiary.

    Net attributable income after minority interest amounted to €24 million in H1 2024 compared to €36 million in H1 2023.

    Earnings per share from continued operations came in at €0.74 in H1 2024 compared to €1.06 in H1 2023. The fully diluted earnings per share(5) was €1.05 in H1 2023.

    Earnings per share stood at €0.71 in H1 2024 compared to €1.05 in H1 2023. The fully diluted earnings per share(5) was €0.71 in H1 2024 compared to €1.05 in H1 2023. The impact of dilutive instruments is accretive, dilutive earnings per share is therefore brought into line with net earnings per share.

    Cash flow generation

    The change in working capital was a net cash outflow by €19 million in H1 2024 compared to a net cash outflow of €55 million in H1 2023, mostly reflecting a better level of cash collection and the one-off positive impact from timing differences in VAT payments.

    The leasing portfolio and other financing services stood at €591 million as of 31 July 2024, compared to €598 million as of 31 January 2024 (only down by (1.0)% on an organic basis), thanks to the solid performance of the Mail activity. While generating future subscription-related revenue, the expected increase in lease receivables resulting from the good performance in the placement of new equipment will translate into a cash outflow in H2 2024. At the end of H1 2024, the default rate of the leasing portfolio stood at around 1.2% compared to c.1.3% at the end of FY 2023.

    Interest and taxes paid increased slightly to €38 million in H1 2024 versus the amount of €35 million paid in H1 2023. The difference was mostly explained by higher interest rates in H1 2024.

    Capital expenditure reached €46 million in H1 2024, stable compared to H1 2023 reflecting an increase in capex for rent offset by the non-renewal of office leases (lower IFRS 16 capex). Capex for Digital reached €12 million in H12024, slightly up compared to €11 million in H1 2023 and was mainly focused on R&D. Capex for Mail decreased from €25 million to €22 million, due to lower IFRS 16 capex linked to less office leases renewal. Capex for Lockers increased from €10 million to €13 million to support the open network deployment in the UK and France.

    All in all, cash flow after capital expenditure was up from a negative amount of €15 million in H1 2023 to a positive amount of €3 million in H1 2024.

    Leverage and liquidity position

    Net debt stood at €726 million as of 31 July 2024, a slight increase against the €709 million of net financial debt recorded as of 31 January 2024. In June 2024, the Group extended by an additional year the maturity of its Revolving Credit Facility to 2029. In July 2024, Quadient proceeded to a partial bond buy-back for a total amount of €7 million, leaving the outstanding amount of the 2.25% bond at €260 million.

    The Group is well positioned to refinance its 2.25% bond, maturing early 2025.

    The leverage ratio (net debt/EBITDA) remained broadly stable from 3.0x(2) as of 31 July 2024 compared to 2.9x(2) as of 31 January 2024. Excluding leasing, Quadient leverage ratio improved from 1.65x(2) as of 31 January 2024 to 1.6x(2) as of 31 July 2024.

    As of 31 July 2024, the Group had a robust liquidity position of €494 million, split between €194 million in cash and a €300 million undrawn credit line, maturing in 2029.

    Shareholders’ equity stood at €1,064 million as of 31 January 2024 compared to €1,069 million as of 31 January 2024. The gearing ratio(6) stood at 68,2% as of 31 July 2024.

    MAIL ITALIAN SUBSIDIARY

    Following the reclassification of the Mail Italian Subsidiary as discontinued operations under IFRS 5 in full-year 2023, an agreement for its sale has been signed with a local mail distribution company in July 2024.

    CAPITAL ALLOCATION

    In line with Quadient’s capital allocation policy, the Company announces the launch of a share buyback program for a total consideration of up to €30 million to be executed on the market over an18-month(7) period.

    This operation aims at improving shareholders’ return. It also demonstrates Quadient’s confidence in the value creation potential of its new Elevate to 2030 strategic plan, its ability to reach its FY 2026 leverage ratio target(8) and is in line with the capital allocation policy of the Company. A press release detailing this share buyback program has been published alongside today’s H1 2024 results.

    OUTLOOK

    With H1 2024 organic growth in line with expectations, Quadient confirms its FY 2024 financial guidance of organic growth both at the revenue and current EBIT levels. H2 2024 will benefit from an easier comparison basis for both Digital and Lockers as there will no longer be any negative impact neither from the delay in implementation of the two large SaaS contracts, nor from the change in commercial agreement with Yamato, which took place at the beginning of H2 2023.

    Q2 2024 BUSINESS HIGHLIGHTS

    Approval of all resolutions by the combined Shareholders’ meeting of 14 June 2024
    On 17 June 2024, Quadient announced that its combined Annual General Meeting was held on 14 June 2024, under the chairmanship of Mr. Didier Lamouche. All submitted resolutions were ratified, with an attendance rate of 74.19% (quorum for ordinary and extraordinary resolutions).

    The Annual General Meeting approved the renewal of the three-year terms of directorship of Hélène Boulet-Supau, Geoffrey Godet, Richard Troksa. Vincent Mercier’s directorship was renewed for an 18-month term, until 31 December 2025. The Annual General Meeting also approved the co-option and approved the renewal for a three-year term of Bpifrance Investissement, represented by Emmanuel Blot.

    Quadient expands its Open Locker Network in new high traffic locations in Japan, leveraging existing JR East Smart Logistics Lockers
    On 21 June 2024, Quadient announced a significant expansion of its open locker network in Japan through a strategic partnership with JR East Smart Logistics Co., Ltd., the logistics arm of the major Japanese rail company. This collaboration integrates Quadient’s advanced parcel delivery and pickup functionalities into JR East’s existing multifunctional locker system, Multi E-Cube, across Japan’s extensive railway network. This marks the first time Quadient is expanding its intelligent locker capacities to third-party networks, highlighting its agility in deploying an open and interoperable logistics ecosystem with new approaches.

    Quadient reports cross-selling success in North America, reinforcing strategic vision
    On 2 July 2024, Quadient announced that nearly 50% of the large deals signed in North America with mail automation customers in May included digital automation platform applications, confirming the critical role its software solutions play in influencing customer decisions. Additionally, two-thirds of these cross-sell deals, secured by Quadient’s mail teams, featured both mail and digital automation solutions, reaching an over 60% integration rate.

    Quadient launches new cloud-based application to empower small businesses in their Mail management processes
    On 4 July 2024, Quadient announced the launch of Secure Barcode, a cloud-based application designed to enhance the security of customer physical communications through seamless barcode generation and insertion into documents. This innovative solution is tailored for small businesses that are beginning their journey into digital mail solutions, providing immediate benefits in document management and operational efficiency.

    Quadient and Punch Pubs Partner to enhance parcel locker access for UK communities
    On 11 July 2024, Quadient announced a new contract with Punch Pubs, a leading pub company in the UK. This partnership will see the deployment of Quadient’s Parcel Pending open locker network across 1,261 pub locations managed by Punch Pubs, enhancing the accessibility and convenience of parcel deliveries and returns for communities nationwide. This collaboration supports sustainable growth strategies, leveraging Punch Pubs’ nationwide commercial properties to deliver value to local populations. 

    More than 1.5 million higher education Students in the U.S. now rely on Quadient smart lockers for package delivery
    On 25 July 2024, Quadient announced it has reached a new milestone of installed smart lockers totaling more than 250 colleges and universities across the United States. Across the campuses, more than 1.5 million students per year are served by the automated lockers.

    POST-CLOSING EVENTS

    Quadient recognized as a major player for first time in IDC MarketScape for worldwide accounts payable automation software for midmarket and small businesses
    On 14 August 2024, Quadient announced it has been named a Major Player for the first time in two IDC MarketScape reports – IDC MarketScape: Worldwide Accounts Payable Automation Software for Midmarket 2024 Vendor Assessment (doc # US52378624, July 2024) and IDC MarketScape: Worldwide Accounts Payable Automation Software for Small Businesses 2024 Vendor Assessment (doc # US52378824, July 2024).

    Quadient secures major contract in North America, demonstrating strength in integrating Digital communications and Mail automation solutions
    On 28 August 2024, Quadient announced a new contract with a North American global leader in financial services, worth approximately €1.4 million per year over an initial period of three years. This successful deal underscores Quadient’s capability to meet the complex communication needs of large organizations through its extensive portfolio of digital and mail automation platforms, combined with high-level consulting and professional services.

    Quadient unveils new mobile app, enabling any local business to offer parcel locker delivery services to customers
    On 4 September 2024, Quadient announced the launch of a mobile app that enables local businesses to deliver customer orders directly to Quadient open network lockers without the need for specific software integrations. The app is already available in the Japanese market under the name PUDO ACCESS and will soon be made available in other countries, continuing to create value for merchants and their local communities.

    E-invoicing mandate for businesses in France: Quadient officially registered as a Dematerialization Platform Partner
    On 12 September 2024, Quadient announced its official registration as a Partner Dematerialization Platform (PDP) under number 0060. This registration, issued on 12 September 2024 by the PDP Registration Service of the Public Finance Department, acknowledges that Quadient meets all the requirements of the new Finance Law and is authorized to participate in the next phase of interoperability tests with the tax authorities’ platform when it becomes available.

    Quadient Named a Leader in 2024 SPARK Matrix for Accounts Payable Automation
    On 19 September 2024, Quadient announced it has been recognized as a Technology Leader in the “SPARK Matrix: Accounts Payable Automation” report, a detailed analysis of the accounts payable (AP) automation market by independent analyst firm QKS Group. The recognition comes on the heels of Quadient also being named a Technology Leader in the “2024 SPARK Matrix: Accounts Receivable (AR) Applications” report, which was published in May. This marks the second year in a row that Quadient has been named a leader in both AP and AR in the SPARK Matrix reports.

    To know more about Quadient’s news flow, previous press releases are available on our website at the following address: https://invest.quadient.com/en/newsroom.

    CONFERENCE CALL & WEBCAST

    Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).

    To join the webcast, click on the following link: Webcast.

    To join the conference call, please use one of the following phone numbers:

    ▪ France: +33 (0) 1 70 37 71 66.

    ▪ United States: +1 786 697 3501.

    ▪ United Kingdom (standard international): +44 (0) 33 0551 0200.

    Password: Quadient

    A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.

    Calendar

    • 27 November 2024: Third quarter 2024 sales release (after close of trading on the Euronext Paris regulated market).

    About Quadient®

    Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/en/.

    Contacts

    APPENDIX

    Digital: New name for Intelligent Communication Automation

    Mail: New name for Mail-Related Solutions

    Lockers: New name for Parcel Locker Solutions

    H1 2024 and Q2 2024 consolidated sales

    H1 2024 consolidated sales by geography

    In € million H1 2024 H1 2023
    restated (a)    		 Change Organic
    change
    North America 308 295 +4.1% +2.8%
    Main European countries(b) 182 173 +4.9% (1.6)%
    International(c) 45 49 (8.0)% (2.5)%
    Group total 534 517 +3.2% +0.8%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, H1 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in H1 2024.
    (b)  Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    (c)  International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Q2 2024 consolidated sales by Solution

    In € million Q2 2024 Q2 2023
    restated (a)    		 Change Organic change
    Digital 66 61 +8.1% +5.8%
    Mail 183 179 +2.4% (0.8)%
    Lockers 23 24 (3.2)% (1.8)%
    Group total 273 264 +3.3% +0.6%
    (a)   The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, Q2 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in Q2 2024.

    Q2 2024 consolidated sales by geography

    In € million Q2 2024 Q2 2023
    restated (a)    		 Change Organic
    change
    North America 157 150 +4.9% +3.2%
    Main European countries(b) 93 89 +4.2% (1.8)%
    International(c) 22 25 (10.1)% (5.8)%
    Group total 273 264 +3.3% +0.6%
    (a)  The full-year 2023 financial statements published in March 2024 reflected Quadient’s decision to review the future of its Mail activity in Italy with a view to divest this subsidiary within the next 12 months.
    As this was the case in the full-year 2023 statements, Q2 2023 revenue from the afore-mentioned subsidiary is not represented in the consolidated revenue of the Group as it is recorded as discontinued operations. This is still the case in Q2 2024.
    (b)  Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    (c)  International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    First half-year 2024

    Consolidated income statement

    In € million H1 2024
    (period ended
    on 31 July 2024)    		 H1 2023 restated
    (period ended
    on 31 July 2023)
    Sales 534 517
    Cost of sales (135) (131)
    Gross margin 399 387
    R&D expenses (31) (31)
    Sales and marketing expenses (143) (139)
    Administrative and general expenses (97) (90)
    Service and support expenses (58) (55)
    Employee profit-sharing, share-based payments and other expenses (5) (3)
    Acquisition-related expenses (4) (3)
    Current operating income 61 65
    Optimization expenses and other operating income & expenses (16) (6)
    Operating income 45 59
    Financial income/(expense) (21) (16)
    Income before taxes 24 43
    Income taxes 2 (6)
    Share of results of associated companies 0 (0)
    Net income from continued operations 26 37
    Net income of discontinued operations (1) (0)
    Net income 25 37
    Of which:

    • Minority interests
    		 1 1
    • Net attributable income
    		 24 36

    Simplified consolidated balance sheet

    Assets
    In € million    		 H1 2024
    (period ended
    on 31 July 2024)    		 FY 2023
    (period ended
    on 31 January 2024)
    Goodwill 1,089 1,082
    Intangible fixed assets 118 121
    Tangible fixed assets 158 156
    Other non-current financial assets 66 65
    Other non-current receivables 2 2
    Leasing receivables 591 598
    Deferred tax assets 47 17
    Inventories 71 67
    Receivables 193 228
    Other current assets 74 84
    Cash and cash equivalents 194 118
    Current financial instruments 2 2
    Assets held for sale 11 9
    TOTAL ASSETS 2,617 2,550
    Liabilities
    In € million    		 H1 2024
    (period ended
    on 31 July 2024)    		 FY 2023
    (period ended
    on 31 January 2024)
    Shareholders’ equity 1,064 1,069
    Non-current provisions 15 12
    Non-current financial debt 552 715
    Current financial debt 329 66
    Lease obligations 39 46
    Other non-current liabilities 4 2
    Deferred tax liabilities 119 104
    Financial instruments 4 5
    Trade payables 69 79
    Deferred income 190 212
    Other current liabilities 219 225
    Liabilities held for sale 13 15
    TOTAL LIABILITIES 2,617 2,550

    Simplified cash flow statement

     

    In €millions

    		 H1 2024
    (period ended
    on 31 July 2024)    		 H1 2023 restated
    (period ended
    on 31 July 2023)
    EBITDA 111 112
    Other elements (11) (7)
    Cash flow before net cost of debt and income tax 100 105
    Change in the working capital requirement (19) (55)
    Net change in leasing receivables 6 16
    Cash flow from operating activities 87 66
    Interest and tax paid (38) (35)
    Net cash flow from operating activities 49 31
    Capital expenditure (46) (46)
    Net cash flow after investing activities 3 (15)
    Impact of changes in scope (8) 0
    Others 0 (0)
    Net cash flow after acquisitions and divestments (5) (15)
    Dividends paid 0 (0)
    Change in debt and others 64 25
    Net cash flow from financing activities 64 25
    Cumulative translation adjustments on cash (0) (1)
    Net cash from discontinued operations 2 (1)
    Change in net cash position 60 10

    Figures exclude Mail Italian subsidiary which has been reclassified as discontinued operations in 2023.
    (1) H1 2024 sales are compared to H1 2023 sales, to which is added pro rata temporis the revenue of Daylight and Frama for a consolidated amount of €12 million. The currency impact is positive for €1 million.
    (2) Including IFRS 16
    (3) H1 2024 ARR impacted by a €0.2 million negative currency effect vs 31 January 2024
    (4) EBITDA = current operating income + provisions for depreciation of tangible and intangible fixed assets.
    (5) For the H1 2024, the average compounded number of shares is 33,950,930. Diluted number of shares is 34,487,900.
    (6) Net debt / shareholders’ equity
    (7) Subject to the renewal of the share buyback authorizations at the 2025 AGM
    (8) FY 2026 leverage ratio excluding leasing target of 1.5x

    Attachment

    The MIL Network –

  • MIL-OSI Russia: Yuri Trutnev launched the energy center in Chukotka

    MIL OSI Translation. Region: Russian Federation –

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

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Yuri Trutnev launched the energy center in Chukotka

    September 23, 2024

    Previous news Next news

    Yuri Trutnev launched the energy center in Chukotka

    A ceremonial launch of the energy center was held in the city of Bilibino in the Chukotka Autonomous Okrug. The new facility was launched by Deputy Prime Minister – Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev. The Governor of the region Vladislav Kuznetsov took part in the launch of the new facility at the energy center site.

    “I congratulate everyone on the launch of the energy center in the city of Bilibino! First of all, I want to thank everyone who participated in the construction: those whose work created the facility, which, together with the floating nuclear power plant, creates the contours of the new energy system, replacing the decommissioned Bilibino NPP. Chukotka is one of the regions of Russia with extreme climatic conditions. Energy is of particular importance for the region with its low temperatures. The entire energy system must operate reliably and without interruptions. Not only the quality of life here, but also the very life of people directly depends on this. Therefore, thank you to the builders, thank you to everyone who took part in the creation of the energy center. Let’s launch it,” said Yuri Trutnev.

    The energy center will gradually replace the Bilibino NPP, which provides heat and electricity to the city of Bilibino with a population of about 5.5 thousand people, as well as large mining and gold mining enterprises in Chukotka. During the implementation of the project, about 300 new jobs will be created.

    “This is a major event for our Chukotka Autonomous Okrug. From 2025, the energy center will be the main heat source for the residents of Bilibin, which will ensure the functioning of the entire Chaun-Bilibinsky energy hub. The work has been underway since 2019 in the difficult conditions of the Arctic zone. During construction, we took into account the permafrost factor, low temperatures, increased wind and snow loads. During the work, we managed to successfully resolve the issue of import substitution of components. I would like to thank the federal government for your support, you, Yuri Petrovich, everyone who provided assistance to the region at the federal level. I thank everyone who was involved in the construction of the energy center,” Vladislav Kuznetsov addressed the ceremony participants and asked Yuri Trutnev to give the order to launch the facility.

    Governor of the Chukotka Autonomous Okrug Vladislav Kuznetsov, head of the Bilibinsky District Evgeny Safonov, deputy director of JSC Chukotka Trading Company Dmitry Ivanov together pressed the “start” button, after which the energy center equipment was put into operation. The total installed thermal capacity of the facility will be 66 MW, and the total installed electrical capacity will be 25 MW.

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

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

    http://government.ru/nevs/52776/

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

    MIL OSI Russia News –

  • MIL-OSI USA: Creating Jobs In A Clean, Equitable, Resilient Economy

    Source: US State of New York

    September 23, 2024

    Albany, NY

    Governor Kathy Hochul today announced New York’s participation in the U.S. Climate Alliance’s Governors’ Climate-Ready Workforce Initiative to grow career pathways in climate and clean energy fields, strengthen workforce diversity, and jointly train 1 million new registered apprentices across the Alliance’s states and territories by 2035. Governor Hochul made the announcement today at a Climate Week NYC event, which also featured her Alliance Co-Chair New Mexico Governor Michelle Lujan Grisham, founding Alliance member Washington Governor Jay Inslee, and White House National Climate Advisor Ali Zaidi.

    “In New York, we’re showing how climate action and economic growth go hand-in-hand,” Governor Hochul said. “As a co-chair of the U.S. Climate Alliance, I’m proud to be collaborating with states, industry leaders, labor unions, higher education and community organizations to create the jobs of the future required to build a clean, equitable, and resilient economy. A skilled and well-prepared workforce will drive innovation, create new businesses, and ensure a sustainable, resilient future for our country.”

    “We need a climate-ready workforce — from EV technicians and heat pump installers to solar panel manufacturers — to meet our carbon reduction goals,” New Mexico Governor Michelle Lujan Grisham said. “The Executive Order I’m issuing today in conjunction with the Alliance’s new Workforce Initiative will help ensure that workers from all backgrounds have access to the skills and training needed for high-quality, climate-ready jobs across New Mexico.”

    “We’re aligning our ambitious climate policies with workforce development to have 1 million more workers poised to take these good-paying, union jobs that serve our communities and strengthen our economies,” Washington Governor Jay Inslee said. “These are economy-wide jobs, not just in clean energy but building trades, land management, clean technology and more. Climate Alliance states have a track record of meeting our ambitious goals and that momentum continues today.”

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    Through the initiative, Governor Hochul and the bipartisan coalition of 23 other governors, representing approximately 60 percent of the U.S. economy and 55 percent of the U.S. population, will partner to strengthen and expand pathways into a wide variety of climate-ready professions that are critical to building a clean, equitable, and resilient net-zero future.

    The initiative goals are to:

    • Advance strategies to ensure climate-ready employment pathways lead to good-paying, high-quality jobs.
    • Prioritize equity in climate-ready workforce policies and programs to expand opportunities for all workers, particularly those from underrepresented communities.
    • Foster meaningful and inclusive collaboration across government, tribal nations and communities, workforce systems, labor unions, industry, community-based organizations and educational institutions.
    • Support innovative and evidence-based approaches to help workers enter and advance in climate-ready careers through a range of supportive services.
    • Promote the development and use of stackable, portable, and industry-recognized credentials in climate-ready fields to build transferable skills, support reskilling and upskilling, and strengthen workers’ economic mobility.
    • Encourage climate-focused workforce planning that is rooted in evidence and aligns with states’ existing workforce development and education systems.

    The initiative’s launch comes as historic federal investments, combined with ambitious state climate action, have unleashed a significant expansion of good-paying and union jobs in clean energy and clean technology fields—such as wind, solar, electric vehicles, energy efficiency, and batteries—with millions more anticipated in the coming years under the Biden-Harris administration’s Inflation Reduction Act and Infrastructure Investment and Jobs Act.

    In New York, we’re showing how climate action and economic growth go hand-in-hand.”

    Governor Kathy Hochul

    Governor Hochul Announces $2.3 million to Support Job Training for Offshore Wind Projects

    Building on the workforce initiative, Governor Hochul announced a $2.3 million award to support training for careers in offshore wind through the State’s Offshore Wind Training Institute (OWTI). The International Brotherhood of Electrical Workers (IBEW) Local Union 3 has been selected to develop and deliver training for offshore wind-related skills to 100 pre-apprentices and 430 journeypersons in New York City.

    This funding award, administered by the New York State Energy Research and Development Authority, will support offshore wind career awareness training as part of IBEW Local 3’s pre-apprenticeship and journeypersons training departments. Eighty of the 100 pre-apprentices will be placed in offshore wind related apprenticeship programs, and all 430 journeypersons will receive offshore wind-specific technical training, with six to be trained as instructors in offshore wind technical training.

    The training program will identify and include the knowledge and skills that are needed for electricians in all stages of offshore wind development, from preassembly through operation and maintenance.

    The funding builds on the nearly $11 million previously awarded through OWTI to other organizations supporting offshore wind related trainings. Programs supported included those at the New York City Union Iron Workers Locals 40 and 361, Capital Region BOCES, and eight different SUNY schools. The OWTI, along with NYSERDA, has built a network of academic, community, industry and labor alliances that will prepare up to 2,500 New Yorkers for careers in renewable-energy fields. OWTI is collaborating with the Renewable Energy and Sustainability Center at Farmingdale State College and the National Offshore Wind Research and Development Consortium at Stony Brook University that is supported by NYSERDA and the U.S. Department of Energy.

    Additionally, as part of the New York Power Authority’s commitment in the 2023-24 Enacted State Budget to support the efforts of the Office of Just Energy Transition in collaboration with the New York State Department of Labor (NYSDOL) and invest annually in workforce training efforts, the Power Authority has thus far committed more than $12 million to support clean energy industry workforce development initiatives around the state.

    In July, NYPA issued a Clean Energy Workforce Training (CEWT) RFP for qualified based training providers (such as technical high schools, community colleges, universities, trade associations, manufacturers, and others) who can collaborate to develop technical training opportunities, hands-on experience, paid internships and full-time jobs for people entering the clean energy workforce. At its upcoming Oct. 8 meeting, NYPA’s Board of Trustees will vote on awarding roughly $2 million to a number of projects that would create a diverse, equitable, and inclusive pipeline of skilled talent for the clean energy labor market with a focus on pathways for employment in the clean energy field for residents of disadvantaged communities in the vicinity of NYPA’s facilities across New York State.

    Read more information on the Governors’ Climate-Ready Workforce Initiative.

    White House National Climate Advisor Ali Zaidi said, “Under President Biden and Vice President Harris’s leadership, we are bringing down the barriers to economic opportunity, lowering costs for American families, and catalyzing a renaissance of American-made manufacturing that is creating jobs across America. In fact, just last year, we added over 250,000 new American energy jobs — with clean energy jobs growing twice as fast as the rest of the sector. Governors across America are at the forefront of our efforts to spur growth in union jobs, expand American energy production, and invest in the economic success of our communities. Today’s announcement will help capitalize on our momentum to create a climate-ready workforce that is rebuilding our nation’s infrastructure, communities, and industrial strength.”

    New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Building a clean energy economy is no small feat, and that is why this newly announced Governors’ Climate-Ready Workforce Initiative is so critical. To succeed, our national and state workforces, need to be filled with expert technicians trained in the latest technologies. NYSERDA looks forward to continuing our support for workforce development and training programs through national partnerships like those being fostered by the U.S. Climate Alliance, and regional partnerships like the Offshore Wind Training Institute, as we grow New York’s industry in collaboration with other states.”

    New York Power Authority President and CEO Justin E. Driscoll said, “In alignment with the leadership of Governor Hochul’s and the U.S. Climate Alliance’s Governors’ Climate-Ready Workforce Initiative, the New York Power Authority’s workforce development programs are connecting New Yorkers with the skills and job training needed to power the state’s, and in turn the nation’s, clean energy future. NYPA’s investments in our own workforce, public-private workforce partnerships, and partnership with the Department of Labor are part our holistic approach to support the essential clean energy workforce and engage more New Yorkers in the clean energy economy.”

    Empire State Development President, CEO & Commissioner Hope Knight said, “New York State’s participation in the Governors’ Climate-Ready Workforce Initiative will further strengthen our efforts to train New Yorkers for high-quality jobs in green energy industries. Governor Hochul’s ongoing commitment to addressing climate change, with support from our federal and state agency partners, will grow the economy while creating a sustainable future.”

    New York State Department of Labor Commissioner Roberta Reardon said, “Pairing registered apprenticeship opportunities with our environmental sustainability efforts is a win-win for workers and employers. By developing registered apprenticeships in line with clean energy goals, New York State continues to strengthen local economies in the on-going transition to a low-carbon economy. I applaud Governor Hochul’s commitment to the U.S. Climate Alliance’s Governors’ Climate-Ready Workforce Initiative, allowing our combined efforts to reach beyond state borders to ensure a sustainable, enduring future for our country’s workforce.”

    BlueGreen Alliance Executive Director Jason Walsh said, “We’re excited to see governors stepping up to make sure we have the workforce needed to fill the good jobs that are being created by the Inflation Reduction Act, Bipartisan Infrastructure Law, and CHIPS and Science Act. There is a tremendous opportunity from those federal investments to rebuild our blue-collar middle class by creating pathways into skilled, long-term careers in sectors like construction and manufacturing. This commitment from governors across the country is good for workers, good for employers, and good for the high-road clean energy economy we’re building together.”

    National Skills Coalition Managing Director of State Strategies Melissa Johnson said, “State governments have a crucial role to play in leveraging historic federal investments to create unprecedented jobs and training opportunities for the workforce while fighting climate change. It is incredible that this coalition of governors is stepping up to prioritize the diversity and economic security of the climate workforce because our climate readiness hinges on a new generation of workers having access to the education, skills training, and economic supports they need to access good jobs and careers in this booming sector.”

    International Brotherhood of Electrical Workers Local Union No. 3 Business Manager Christopher Erikson said, “Today’s announcement on the “Climate-Ready Workforce Initiative” is a great step forward in continuing to prepare future members of the IBEW and unionized Building Trades for the green energy jobs of today and beyond. We welcome tomorrow’s apprentices from all walks of life into our ranks with open arms, ready to deliver world-class training and to prepare them for union careers with family-supporting wages and benefits. Thank you to Governor Hochul, the Biden-Harris administration, US Climate Alliance, and NYSERDA for addressing the climate crisis head-on and supporting the unionized green workforce.”

    MIL OSI USA News –

  • MIL-OSI USA: During Climate Week, Markey, Badum, Merkley, Barragán Lead Over 100 International Lawmakers in Urging Biden Administration to Reject New LNG Exports

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Letter Text (PDF)

    Washington (September 23, 2024) – Senator Edward J. Markey (D-Mass.), chair of the Environment and Public Works Subcommittee on Clean Air, Climate, and Nuclear Safety, today partnered with Representative Lisa Badum, group coordinator in the German Bundestag’s Climate and Energy Committee and chairwoman of the Subcommittee on International Climate and Energy Policy, Senator Jeff Merkley (D-Ore.), Representative Nanette Barragán (CA-44), Senate and House colleagues, and leaders from around the world in sending a letter to President Joe Biden and Secretary of Energy Jennifer Granholm, urging the administration to reject new liquefied natural gas (LNG) exports amidst the global climate crisis.

    The United States is already the world’s largest exporter of LNG and is on track to exponentially increase export capacity – a full build-out that could yield hundreds of million metric tons of additional greenhouse gases at home and abroad. Pushing back on arguments that United States’ international allies need the country’s LNG, members of the U.S. Congress and Parliaments around the world are requesting that the administration reject these applications. 

    In their letter to the administration, the lawmakers wrote, “Far from being a clean ‘bridge’ fuel, LNG causes significant environmental harm. In addition to the greenhouse gas released when LNG is burned, the potent greenhouse gas effects of pervasive methane leaks throughout the LNG supply chain — which extends from initial exploration all the way through gas production, pipeline transportation, liquefaction, vessel transportation, regasification, distribution, and end-use consumption — likely eliminate any climate advantage of reduced greenhouse gas emissions.”

    The lawmakers continued, “In addition to the environmental and health benefits, limiting U.S. LNG exports will actually support global energy security, not jeopardize it. In both emerging and developed markets, overinvestment in LNG diverts resources away from cheaper, more stable, and less trade-dependent clean energy investments.”

    In Europe:

    “While Europe’s energy system was strained in the immediate aftermath of Russia’s invasion of Ukraine in early 2022, it has since recovered. Europeans united to slash overall gas demand by 20 percent over the past two years. Gas prices are lower than before the start of the war, despite drastically lower supply from Russia.”

    In Asia:

    “China, the world’s largest LNG importer, has emerged as a major re-exporter within the region and globally, cashing in on lucrative price differentials that are facilitated by long-term agreements with the United States. Similarly, Japan, facing declining domestic demand and oversupply, is redirecting LNG trade volumes to emerging markets in South and Southeast Asia, bolstering profitable re-trading ventures.” Additionally, “South Korea, despite existing low terminal utilization and climate commitments, has invested significantly in expanding LNG infrastructure, highlighting a mismatch between capacity expansions and actual demand.”

    In Africa:

    “The expansion of LNG export infrastructure has sparked displacement, conflict, and environmental degradation, with many projects facing the risk of becoming stranded assets amid declining global demand. The African LNG export market parallels the United States in prioritizing foreign market interests over local needs amidst declining demand. U.S. participation in the LNG export market fuels this exploitative industry, undermining claims of leadership in a just global energy transition.”

    In the Americas:

    “Investments in new re-exporting infrastructure in Mexico will soon become stranded assets with poor financial viability, threatening the economic stability of the country for the benefit of short-term U.S. interests. Moreover, the export of U.S. LNG through Mexico also transfers environmental and climate justice burdens associated with LNG infrastructure, expanding the footprint of the industry’s harm to the country’s unique biodiversity and frontline communities in Mexico.”

    Cosigners in the U.S. include Senator Bernie Sanders (I-Vt.), and Representatives Jared Huffman (CA-02), Rashida Tlaib (MI-12), Jan Schakowsky (IL-09), Pramila Jayapal (WA-07), and Eleanor Holmes Norton (DC). Cosigners internationally include 30 Members of the Thailand Parliament, 15 Members of the European Parliament, 10 Members of the German Parliament, 3 Members of the United Kingdom Parliament, 2 Members of the Flemish Parliament, 2 Members of the National Assembly of the Gambia, 2 Members of the South Sudan Parliament, 2 Members of the Tanzanian Parliament the Australian Senator for Victoria, Brazilian State Deputy for Para, Canadian Senator for Quebec, the Deputy Prime Minister of Belgium, 1 former Member of the Sierra Leone Parliament, 1 former Member of the Catalan Parliament, 1 former Member of the Flemish Parliament, 1 Member of the Timor-Leste Parliament, Member of Parliament and Special Envoy on Climate Change and Environment from the Republic of Vanuatu, 1 Member of the Sierra Leone Parliament, 1 Member of Tasmania’s Legislative Council, 1 Member of the Australian Parliament, 1 Member of the Austrian Parliament, 1 Member of the Cambodian Parliament, 1 Member of the Cameroon National Assembly, 1 Member of the Colombian Congress, 1 Member of the Gambian Parliament, 1 Member of the Ghanaian Parliament, 1 Member of the Liberian House of Representatives, 1 Member of the Northern Ireland Assembly, 1 Member of the Scottish Parliament, 1 Member of the Swedish Parliament, 1 Member of the Swiss Parliament (National Council), 1 Member of the Tasmanian House of Assembly, 1 Member of the Ugandan Parliament, 1 Member of the UK House of Lords, and 1 Member of the Victorian Parliament in Australia on behalf of the Victorian Greens Members of Parliament.

    In July 2023, Senator Markey and several New England Senators sent a letter to the Department of Energy urging it to consider the disproportionate negative impacts of LNG on New England as the department considers updates to its underlying environmental and economic analyses to improve export authorization decisions for LNG. 

    In May 2024, Senator Markey and Representative Yvette Clarke (NY-09) announced the reintroduction of the Block All New (BAN) Fossil Fuel Exports Act, legislation that would amend the Energy Policy and Conservation Act and ban the export of American crude oil and natural gas abroad to protect frontline communities from dangerous export infrastructure, prioritize U.S. consumers against fossil fuel profiteering, and help ensure the United States meets its climate and clean energy commitments on the world stage.

    In March 2023, Senator Markey and Representatives Ayanna Pressley (MA-07) and Rashida Tlaib (MI-12) reintroduced the Fossil Free Finance Act, legislation that would direct the Federal Reserve to require major banks and other Systemically Important Financial Institutions (SIFIs) to stop financing projects and activities linked to increased greenhouse gas emissions and submit a plan on how they would meet these requirements. In October 2022, Senator Markey reintroduced the OPEC Accountability Act, legislation to require the U.S. President to initiate consultations with the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC countries to reduce crude oil production.

    MIL OSI USA News –

  • MIL-OSI USA: Warren, Markey, Healey, Wu, Massachusetts Leaders Secure $472 Million in Federal Funding to Replace Draw One Bridge, Renovate North Station T Stop

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    September 23, 2024

    Largest federal award MBTA has won to date

    Funding will increase ridership, streamline operations, and improve resiliency along Amtrak’s Downeaster route and regional rail lines

    Washington, D.C. – Today, Senators Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.), along with Representatives Stephen Lynch (D-MA-08), Katherine Clark (D-MA-05), Ayanna Pressley (D-MA-07), Lori Trahan (D-MA-03), Massachusetts Governor Maura Healey, Boston Mayor Michelle Wu, and MBTA General Manager and CEO Phillip Eng announced a grant of $472 million from the U.S. Department of Transportation (DOT) to the Massachusetts Bay Transportation Authority (MBTA) to fully replace the North Station Draw One Bridge and renovate Platform F at North Station. The grant is the largest federal award the MBTA has won to date.

    The nearly half a billion dollar grant will provide critical support for one of MBTA’s top priority projects and a vital transportation asset to MBTA’s north-side operations. It will also support more than 14,500 jobs, make the bridge more climate resilient by bringing it above projected sea-level rise, and lower emissions. In April 2024, Senator Warren led a letter of support for the MBTA’s funding request to the Department of Transportation.

    Specifically, the new funding for MBTA’s North Station Renovation and the Draw One Bridge Replacement Project will support the full replacement of the existing drawbridge, the extension and activation of a platform with two tracks at North Station, and the replacement of track, signals, and switches to modernize and improve station infrastructure.

    “This $472 million investment is a game-changer for the thousands of passengers who pass through North Station every day — and will build a safer, more reliable public transit system for the Commonwealth. Massachusetts leaders worked together to secure the largest ever federal award for the T, and I won’t stop fighting to bring home even more investment to improve transit across the Commonwealth,” said Senator Warren.

    “With $472 million to replace the North Station drawbridge, we’re drawing up a new future for rail transit north of Boston. I’m grateful to the Biden-Harris administration, Governor Healey, General Manager Eng, Senator Warren, and our whole federal delegation for securing this funding. Together, we are delivering critical federal dollars to the T and building a modern, safe, and reliable public transit system for all,” said Senator Markey.

    “We know that improving our transportation infrastructure is critical for improving quality of life and making sure Massachusetts remains the best place to live, work, raise a family and build a future,” said Governor Maura Healey. “That’s why our administration is competing so aggressively to win federal funding that can be put toward our roads, bridges and public transportation. Congratulations to General Manager Eng and the MBTA team for this award that will improve train service for millions of riders. We’re grateful to the Biden-Harris Administration and U.S. Department of Transportation for their continued investment in Massachusetts’ transportation infrastructure.” 

    The Draw One railbridge carries the MBTA Commuter Rail and Amtrak trains, serving approximately 11,250,000 passengers per year. It is particularly critical for Amtrak’s Downeaster, an intercity passenger rail service that travels from Maine and New Hampshire into Boston, which is projected to have some of the highest ridership in New England. Draw One is also a vital connection for all of MBTA’s north-side regional rail lines, including Fitchburg, Lowell, Haverhill, and Newburyport/Rockport. The new federal investment will improve service reliability and operations, reduce congestion along a known bottleneck, and increase capacity across the bridge. Additionally, the funding will allow for upgraded signaling and expanded track capabilities, further improving traffic flow.

    “I am pleased to join my colleagues in government to announce the State of Massachusetts was awarded over $472 million in federal funding that will help improve MBTA and Amtrak services,” said Rep. Lynch. “This funding is the result of our hard work and partnership with the Biden-Harris administration to ensure we invest into our nation’s transportation and infrastructure. People all over the Commonwealth rely on public transportation every day, and this DOT grant is critical to make the necessary repairs and replacements that will make train service more safe and reliable.”

    “This bridge is a critical connection point for the communities north of Boston. This federal investment will improve the quality of life for commuters, reduce traffic for everyone, and bring opportunity to the Commonwealth. We will have a faster, more modern, and more user-friendly public transportation system, and that’s exactly the direction we need to move in,” said Democratic Whip Katherine Clark.

    “Transit justice is a racial and economic justice issue, and a matter of public safety – and this massive federal investment helps make the Commonwealth more connected and our transportation system safer and more reliable for commuters,” said Congresswoman Pressley. “I’m glad that families in the Massachusetts 7th who depend on the commuter rail will be better able to access jobs, healthcare, education, and essential services in other parts of the state, and we won’t stop fighting to build the more just, equitable, and accessible transit system our communities deserve. I thank my delegation colleagues and the Healey-Driscoll Administration for their partnership, and the Biden-Harris Administration for continuing to invest in Massachusetts.”

    “The Bipartisan Infrastructure Law continues to deliver unprecedented federal investments to make our transit systems safer and more efficient,” said Congresswoman Trahan. “This massive award is proof that, thanks to the strong partnership between our federal delegation and the Healey-Driscoll administration, Massachusetts continues to punch above our weight when competing for federal funding.”

    “North Station Draw One is a connection point between Boston and Cambridge, and the many cities and towns north who rely on this train bridge to visit and work in our city. Thanks to the leadership of the MA federal delegation and the Healey-Driscoll administration in securing this funding, the Greater Boston area will see benefits from updated infrastructure and more reliable transportation. This funding for a bridge replacement represents our region’s commitment to our local economy and green transit,” said Mayor Michelle Wu.

    “I’m proud of the MBTA team that worked diligently to put this project in a strong position to win this highly competitive federal award. I thank the USDOT Secretary of Transportation Pete Buttigieg, Deputy Secretary of Transportation Polly Trottenberg, and our partners at the Federal Transit Administration (FTA), Acting Administrator Veronica Vanterpool, FTA Region 1 Administrator Pete Butler, and their entire team, for this incredible award allowing us to deliver the North Station Draw 1 project, freeing up state capital dollars for other essential needs,” said MBTA General Manager and CEO Phillip Eng. “This award continues to demonstrate our aggressive approach to pursuing all funding opportunities under the lead of the Healey-Driscoll Administration as we pursue every available federal grant. Our Grants and North Station Drawbridge teams deserve all the credit for their exceptional work to secure this funding which allows us to ensure the efficient and reliable movement of all North Station train lines while greatly improving our ability to provide more frequent, regional rail-style service across the entire northside corridor to serve future generations to come.”

    Senator Warren has worked hard to secure federal funding for Massachusetts transportation projects, including $1.7 billion to replace the Cape Cod Bridges, $335 million to reconnect communities and increase mobility through the Allston I-90 Multimodal Project, $108 million for West-East Rail, $75 million for schools to electrify their bus fleets, $60 million for transit agencies to acquire zero- and low-emission buses, and $24 million to rehabilitate Leonard’s Wharf in New Bedford. 

    MIL OSI USA News –