NewzIntel.com

Category: Transport

  • MIL-OSI New Zealand: First Responders – Reefton Volunteer Fire Brigade celebrates 150 years

    Source: Fire and Emergency New Zealand

    Reefton Volunteer Fire Brigade will celebrate one-and-a-half centuries of serving its community with a special event at Labour Weekend.
    Chief Fire Officer Emmet Fortune says, “While we, like many other brigades, have faced our fair share of change and challenges over the years, this is a chance to bring our community together in our special town and celebrate the last 150 years and all those who have made it possible – our volunteers, their families and their employers.”
    Reefton is one of the older volunteer fire brigades at the heart of New Zealand communities for more than 150 years. Nowadays, around 12,000 people volunteer in nearly 600 fire brigades across New Zealand. They make up around 80 percent of Fire and Emergency New Zealand’s workforce across the motu.
    They are ordinary New Zealanders from all walks of life who are totally committed to serving their communities and who frequently go above and beyond to keep their communities safe and supported.
    Over the last 150 years the role of firefighting and emergency management has changed, but the critical importance of volunteers to fire and emergency management, to community resilience and to Fire and Emergency has not. The organisation couldn‘t operate without them.
    Chief Fire Officer Emmet Fortune says, as well as firefighting, Reefton volunteers respond to medical emergencies, car crashes, severe weather events, and other requests for help.
    “150 years ago, we had a much more stable brigade membership with people staying for a long time, but now the community is more transient with a less stable workforce, so the brigade has had to adapt. We always welcome new members,” he says.
    “Anyone can be a volunteer. We welcome people who have administrative talents to help keep the brigade running smoothly, or who can help with traffic management during an incident, or providing lighting and refreshments.
    “We invite people to come along and see for themselves.”
    “We’re all a family here on the West Coast, and that’s what has made Reefton Volunteer Fire Brigade so special over the last 150 years. We have great camaraderie within the brigade and across other West Coast brigades, we’re very family focused with generations of members, and we have a real strong sense of community and belonging, to both the brigade and our community,” Emmett says.

    MIL OSI New Zealand News –

  • MIL-OSI United Kingdom: Help is at hand in Manchester

    Source: City of Manchester

    Details of the Council’s support package for those struggling with the cost-of-living this winter, including enhanced support for pensioners, have been announced.

    The Council spends over £30million a year on helping those facing hardship and poverty,  including the £6.5m awarded through the Government’s Household Support Fund to target support for those most in need of help to pay for energy and water, food or other essentials up to April 2025.

    This will supplement the Council’s wider ongoing work to support residents at risk from the cost of living and address poverty. Residents struggling with costs and wanting to find out more about the range of support available are encouraged to contact the Cost of Living Advice Line on freephone 0800 0232692 between 9am and 4.30pm Monday to Friday.

    Find more information about support  Or Text on 07860 022876.

    The new scheme is designed to provide help for those facing the greatest challenges, with payments being made from November.

    Pensioners

    Under the new scheme, pensioners who are not in receipt of pension credits – and therefore will not receive the winter fuel payment – but need support will be eligible for payments of £150, or £200 if they are aged 80 or over.

    The Council does not have access to the names and addresses of pensioners in Manchester who will not get the winter fuel payment as this data is held nationally.

    But using its own records it has identified almost 5,000 households where pensioners live who receive Council Tax Support or Housing Benefit but are not qualified for winter fuel payments. These households will automatically receive direct payments from the Council – £150 for an estimated 3,918 households and £200 for 858 households. People in this category do not need to do anything – payments will be made directly to their bank accounts where the Council has these details, or in Post Office Vouchers.

    On top of this, the Council is expanding its existing welfare provision scheme with a hardship fund specifically for pensioners who are in-need and will not receive the winter fuel payment but have not been identified for the automatic payment. Again those aged 66-79 will be eligible for £150 payments and those 80 or over for £200.

    Referrals will be made via the Cost of Living Advice Line.

    At the same time, the Council is stepping up its campaign to encourage pensioners to check whether they are entitled to pension credits – and if so to claim them. It is estimated that more than 8,000 eligible older people in Manchester are not claiming the credits, perhaps because they feel there is a stigma attached to it. An estimated £24m a year in Pension Credit and associated benefits goes unclaimed in the city.

    Pension Credit is an important benefit because it opens up eligibility for social tariffs, the Warm House Discount, cheaper broadband, free TV licenses, lower water bills and now the Winter Fuel Payment.

    The Council is promoting uptake of pension credits through a wide range of channels, from social media, outdoor advertising and flyers to more innovative direct measures such as working with city pharmacists who have agreed to attach prescription-style flyers advertising Manchester’s Cost of Living Advice Line to medication bags for delivery. Opticians and supermarkets are also being asked to spread the word.

    The campaign is designed to reach not just pensioners themselves but also their families who will be able to help them check their entitlement or make a claim.

    This is part of a landmark package of support for people in need of all ages, and other targeted support includes:

    People with disabilities

    All low income Manchester households in receipt of Council Tax Support where at least one person gets disability benefits will get an automatic payment of £100. An estimated 21,437 households across the city are expected to benefit from this.

    Care leavers

    £10 per week will be paid to around 350 care leavers living in their own tenancies.

    Families with children

    Families with children who are eligible for free school meals during term time will receive payments for each eligible child of £15 for the autumn half-term, £30 for the Christmas holiday period and £15 for the spring 2025 half-term to prevent holiday hunger. This will support around 44,000 children, with payments distributed via Manchester schools.

    A further £190,000 will also be allocated to the Council’s Holiday Activity Fund (HAF) to provide free activities for children during the autumn and spring 2025 half-terms. This is in addition to HAF funding already in place for the main school holidays.

    Other support

    £200,000 will be allocated to voluntary and community sector organisations working in the city to help ensure that harder to reach people are supported.

    A further £20,000 will be added to funding for the Council’s existing welfare support scheme, which provides grants for those facing hardship.

    Councillor Bev Craig, Leader of Manchester City Council, said:

    “We know as we approach winter that the cost-of-living crisis hasn’t gone away and as a Council we will be doing everything this winter to support those struggling or facing hardship. We will be targeting support at those who need it most, but also continuing with our cost of living advice line open to anyone.

    “The message is clear, if you are struggling this winter, please contact us and we will support you.

    “In addition to our work with children and families, people with disabilities and carers, we are expending our targeted support to older people who may face hardship this winter using money through the Government’s Household Support Fund.

    “Targeted payments will make a real difference to tens of thousands of Manchester people who are struggling with cost of living pressures. This additional support scheme has been designed to reach those who need it most this winter, including pensioners and will sit alongside the council’s major campaign to make sure we increase the number of people receiving pension credits and extra support. We are writing to those we think should be eligible and I’m urging as many people to sign up – this is money you are entitled to after decades of hard work and paying into the system.

    “Our Cost of Living Advice Line is open to anyone living in the City of Manchester and we can offer support and signpost you to the help available.

    “Our council is committed to tackling poverty in the long term – it’s why we spend over £30m a year. As we look forward to working with the Government on this crucial task, there is shorter-term help available for Mancunians who need it now.”

    MIL OSI United Kingdom –

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – StoneX Group Inc. – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 StoneX Group Inc  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 11 October 2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 Yes
    CAB Payments Holdings plc    		  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: Common (US8618961085)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 1,375,767 4.32 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 1,375,767 * 4.32 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 49,920 shares that are included in the total above.  
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    Common (US8618961085) Purchase 8 87.8874 USD  
    Common (US8618961085) Purchase 2 87.7700 USD  
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 14 October 2024  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – ANGLOGOLD ASHANTI PLC – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 Anglogold Ashanti Plc  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 11 October 2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 YES
    Centamin PLC    		  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: USD 1 ordinary (GB00BRXH2664)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 1,425,840 0.34 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 1,425,840 * 0.34 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 1,051 shares that are included in the total above.  
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    USD 1 ordinary (GB00BRXH2664) Sale 18,478 27.1468 USD  
    Please note, there were net transfers Out of 32,955  
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 14 October 2024  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Global: Tito Mboweni: South African Minister and Reserve Bank governor who drove significant economic reforms

    Source: The Conversation – Africa – By Roy Havemann, Research Associate, Stellenbosch University

    Tito Mboweni, former South African Reserve Bank Governor, Minister of Finance, and Minister of Labour was arguably one of the country’s most consequential economic policymakers and drove several significant economic
    reforms.

    Mboweni passed away on 12 October 2024 after a short illness.

    Born on 16 March 1959, he received a Bachelor of Arts in Economic and Political Science from the National University of Lesotho in 1985. He had attended the University of the North between 1979 and 1980 but left South Africa to go into exile in his second year of studies. In 1987, he obtained a Master of Arts in Development Economics from the University of East Anglia in the UK.

    He began his career in government as Minister of Labour in President Nelson Mandela’s 1994 administration. As the first Minister of Labour in the new democratic South Africa, he took several steps to improve the relationship between business and labour.

    Among these were major legislative reforms, including the Basic Conditions of Employment Act, Labour Relations Act, Mines Health Safety Act and the NEDLAC Act, designed to improve cooperation between different “constituencies” – labour, business, and government.

    He was appointed as the Eighth Governor of the South African Reserve Bank in
    1999. In this role he introduced inflation targeting and presided over the first monetary policy committee meetings. This substantially modernised the Bank’s approach. For instance, Mboweni introduced a monetary policy statement outlining the reasons for the Bank’s decisions. These were televised, bringing new transparency to the conduct of monetary policy. Before this, the bank’s targeted monetary policy aggregates, and its communications, were made through printed documents.

    Monetary Policy Forums took monetary policy to many parts of the country, bringing a new openness and engagement between the Bank and ordinary South Africans.

    He held the position of Governor until 2009. But his legacy endures. The South African Reserve Bank is highly regarded across the world, with an inflation rate that is firmly within the target range and well-anchored inflation expectations.

    As finance minister

    Shortly after Cyril Ramaphosa was inaugurated as President of the Republic of South Africa in 2018, the then Finance Minister Nhlanhla Nene resigned. The President appointed Mboweni as Minister of Finance in October 2018.

    Mboweni made three consequential decisions in South Africa’s economic policy
    trajectory.

    The first was the decision, in 2019, to freeze government wages from 2020. He was alarmed by the rapid and unsustainable increase in government wages. Together with slowing economic growth, this led to a fiscal position that was deteriorating at an alarming pace. The wage freeze ultimately started the slow return to the fiscal rectitude that had been the hallmark of the period of government before Jacob Zuma became president in 2009.

    The second, also in 2019, was the publication of a paper on economic growth. It was known officially as “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa”.

    Unofficially it was known as the “Tito Paper”.

    This set out a programme of much-needed economic reforms – including steps to lift the restrictions on private power generation. In the six years since the publication of the policy paper (and the subsequent reforms), a total of 6 GW of non-Eskom electricity has been added to the grid, saving South Africa six stages of load-shedding.

    Other recommendations of the paper are being followed, including those for rail, telecommunications and ports.

    The third was the introduction of a comprehensive response to the COVID-19 pandemic. This included a significant expansion of the grants system, with a Social Relief of Distress grant pegged at R350 per person per month. Research by the NIDS-CRAM initiative, led by Dr Nic Spaull of Stellenbosch University, has highlighted how the grant positively affected millions of people’s lives.

    Enduring legacy

    It is difficult to think of any other economic policymaker who has left such an enduring legacy.

    Stellenbosch University awarded him an honorary doctorate in 2010 and appointed him Professor Extraordinary of Economics from 2002 to 2005 . He was a frequent participant at Bureau for Economic Research conferences. There, his engaging speaking style made him a popular drawcard.

    His love of red wine and engaging conversation made him a popular visitor at the university. In 2010, he spent time at the Stellenbosch Institute for Advanced Studies as part of a research group working on the global financial crisis and its consequences for democracy.

    This is an edited version of a tribute published by the Bureau for Economic Research, Stellenbosch University.

    Roy Havemann is a senior economist at the Bureau for Economic Research where he leads the Impumelelo Economic Growth Lab. He was previously at the National Treasury where, amongst other things, he was Tito Mboweni’s speechwriter.

    – ref. Tito Mboweni: South African Minister and Reserve Bank governor who drove significant economic
    reforms – https://theconversation.com/tito-mboweni-south-african-minister-and-reserve-bank-governor-who-drove-significant-economic-reforms-241236

    MIL OSI – Global Reports –

  • MIL-OSI Global: The remarkable career of Tito Mboweni: from South African freedom fighter to central bank governor and trusted politician

    Source: The Conversation – Africa – By Jannie Rossouw, Visiting Professor at the Business School, University of the Witwatersrand

    It is sad to write about Tito Mboweni in the past tense.

    Tito Titus Mboweni, who was born on 16 March 1959 in Tzaneen, a town in South Africa in what was then the Transvaal, passed away after a short illness in Johannesburg on 12 October 2024.

    After the announcement of his death, tributes poured in for this South African leader. Many have been touched by his legacy in politics, business, governance and the economy of South Africa.

    While not without some shortcomings, his career from being a freedom fighter to becoming a trusted and popular public figure serves as an enduring example to others in leadership.

    A career in service of society

    During his lifetime, Mboweni managed to achieve multiple accomplishments. The first period of his career was as member of the African National Congress (ANC) liberation movement in exile, where he served as deputy head of the Department of Economic Policy in the ANC.

    Political and public service was a second part of his career.

    After the democratic elections of 1994, Mboweni served as minister of labour in the first cabinet of Nelson Mandela. In a surprise announcement in 1998, Mboweni was appointed as an advisor to the then governor of the South African Reserve Bank, Chris Stals. This was to prepare Mboweni for appointment as governor after the retirement of Stals.

    Mboweni could not move directly into the position as governor, as section 4(2)(a) of the South African Reserve Bank Act states that the “governor shall be a person of tested banking experience”.

    By serving as an advisor to Stals for a little over a year, Mboweni met this legal requirement. He was appointed as the eighth governor of the central bank on 8 August 1999.

    At the time there were concerns about his commitment to the continuation of a policy of controlling inflation, ushered in successfully by Stals in the preceding decade. But Mboweni soon showed his commitment to the continued control of inflation.

    He replaced the previous structure used for monetary policy decisions by Stals by establishing the Monetary Policy Committee in October 1999. This was in preparation for the adoption of inflation targeting as a policy objective for the bank.

    After his retirement from the Reserve Bank, Mboweni commenced with the next stages of his career: a successful stint in business, which was interrupted by his return to politics. He served as minister of finance from 9 October 2018 to 5 August 2021. In this role he made it very clear that South Africa had to adopt a more prudent fiscal policy to avoid a too rapid growth in government debt. But this viewpoint made him unpopular with many cabinet and ANC colleagues, trade unions and others.

    Once he left politics, Mboweni resumed his career in business. He also served the South African community in different ways. He held a number of appointments as honorary professor and was also a patron of the arts. He was also well-known for his enthusiasm for cooking, which he often posted about on social media.

    Challenges

    Mboweni had to withstand political pressure on the issue of the role of the Reserve Bank. He was exemplary in his protection of the autonomy and independence of bank, which is set out in sections 223 to 225 of the South African Constitution.

    In this respect, he followed in the footsteps of Stals.

    Politicians favour lower interest rates, particularly during election periods. But Mboweni was not afraid of being unpopular. He was steadfast in protecting the autonomy and independence of the South African Reserve Bank. Mboweni also led the central bank during the global financial crisis of 2008 . South Africa was one of the countries that did not suffer a banking crisis or collapse during that period.

    Achievements

    Mboweni’s single biggest achievement was his successful transition from an ANC freedom fighter in exile to his roles as senior politician, central bank governor and businessman.

    His successful adoption of a policy of inflation targeting despite opposition was also a major achievement. Under Mboweni’s leadership the South African Reserve Bank showed critics that South Africa can make a continuous commitment to a low rate of inflation.

    Other than establishing the Monetary Policy Committee, Mboweni also played a major role in bringing monetary policy closer to the people. Under his leadership, the bank was one of the first central banks in the world to announce monetary policy decisions about interest rates at a media conference. He also introduced the central bank’s Monetary Policy Forums, where the public can engage the senior leadership of the central bank on monetary policy.

    Shortcomings

    Mboweni had many successes in business, central banking and politics. He also a few shortcomings. One was that he did not insist on the readoption of the lower inflation target (3%-5%) announced in 2001, that was later abandoned. A lower inflation target some 20 years ago would have anchored South Africa’s inflation rate and inflation expectations on a lower trajectory.

    It is difficult to judge whether Mboweni’s somewhat untimely (though not necessarily unexpected) resignation as finance minister can also be regarded as a failure. However, a finance minister can only function optimally with the support of the head of state. Such support was clearly lacking.

    Legacy

    Mboweni leaves a legacy of a successful transformation from a freedom fighter to a businessman, central banker and politician. If more former freedom fighters made this successful transition, South Africa’s prospects would look considerably better.

    Another legacy is honesty and integrity. Mboweni was never embroiled in scandals or questionable business dealings. If other ANC cadres could follow this example, South Africa would also offer a better future for all its citizens.

    As an NRF-rated researcher, Jannie Rossouw received research funding from the NRF. He serves as independent non-executive Board member of Finbond Mutual Bank, Noordelike Helpmekaar Study Fund and Satsanga Fintech Holdings.

    – ref. The remarkable career of Tito Mboweni: from South African freedom fighter to central bank governor and trusted politician – https://theconversation.com/the-remarkable-career-of-tito-mboweni-from-south-african-freedom-fighter-to-central-bank-governor-and-trusted-politician-241234

    MIL OSI – Global Reports –

  • MIL-OSI Economics: Introducing a digital euro: The cross-border dimension

    Source: Bundesbank

    Check against delivery.

    1 Introduction

    Dear Governor Das,

    dear colleagues,

    ladies and gentlemen,

    I am delighted to be here with you today, at this wonderful location, visiting this wonderful country – one of the cradles of world civilisation and culture. 

    The Reserve Bank of India is currently celebrating its foundation 90 years ago. My heartfelt congratulations to all members of staff on this anniversary! Last year, Indian real-time payment systems processed about 129 billion digital transactions.[1] This means that 84% of electronic payment transactions took place in real time. During the same period, only about 19% of electronic payments worldwide were real-time transactions. In my view, this is impressive evidence of the excellent work the RBI has accomplished over the last few years.

    Payment systems and their cross-border interaction are also an important topic at this conference. This is because cross-border payments are an integral part of our globalised world. Historically, from the Renaissance to modern times, correspondent banks have acted as the bedrock for cross-border payment transactions.[2] However, even today, transferring funds by means of correspondent banking is often slow, involves many steps and may result in high and non-transparent fees. 

    Moreover, in the last two decades, correspondent banking has been subject to a downward trend, mainly due to increasingly strict compliance requirements. Between 2011 and 2022, the number of active correspondents decreased by roughly one third, while the value of cross-border payments increased by almost 40%.[3] Obviously, this is an alarming trend in terms of market competition.

    To some extent, technical progress might be able to compensate for a tighter correspondent banking market. In particular, in the last decade, a number of FinTech companies have provided new opportunities to streamline cross-border payments using innovative methods like blockchain and digital wallets.  The FinTech revolution focused on private money. However, it now appears there may be another revolution on the horizon – this time involving payments in central bank money: the introduction of central bank digital currencies (CBDC).

    In my talk, I would like to address CBDC developments with a particular focus on cross-border payments. First, I will outline some general points about the potential impact and benefits of the introduction of CBDC for processing cross-border transactions. Second, I will aim to highlight this topic in the context of the Eurosystem’s work on a digital euro – the envisaged European retail CBDC.

    2 CBDCs and cross-border payments

    Given that there are correspondent banks and FinTechs working on digital innovations as well, let me begin with a question. What would be the additional benefits of CBDCs in the area of digital payments? The introduction of CBDCs would facilitate a setup of new infrastructures for digital payments. On the one hand, this makes high initial investment necessary. On the other hand, once a CBDC is established with its new infrastructure, it could catalyse broad improvements in payment systems, including cross-border transactions – by introducing new message standards and shorter process chains, for example.[4] 

    Starting on a green field may be one major advantage of CBDCs. Experience shows that, in particular, implementing common standards is not an easy task. Take ISO 20022, for example.[5] The International Organisation for Standardisation proposed this common standard for financial messages in cross-border payments in 2004. It will be probably more widely used in payment systems on a global level next year – 21 years after the initial proposal. This period feels even longer when you think of all the innovations that have taken place in the meantime – the first iPhone was presented in 2007, the concept of a decentralised blockchain in 2008.

    However, to be able to reap the benefits for cross-border payment, interoperability between CBDCs must be ensured early on. To this end, central banks should already begin to consider the best ways for interaction in the planning phase. In my view, we have a historic opportunity to vastly improve cross-border transactions by making different CBDCs interoperable from the very beginning.

    Indeed, a number of projects are already researching the best ways of making CBDCs interoperable. For instance, the Bank for International Settlement (BIS) Innovation Hub in Singapore and a number of national central banks in the Indo-Pacific region set up Project Dunbar to explore how a common platform for CBDCs could enable cheaper, faster and safer cross-border payments.[6] 

    I am strongly in favour of a multilateral approach in this area, because this best serves the interests of all participants. If central banks proceed in a largely unilateral way instead, we not only risk inefficiencies, but also undesirable interferences. Consider a scenario in which a CBDC is made available for holders abroad in a unilateral way. In such a case, we could see currency substitution or appreciation pressure for the domestic currency. Also, the balance sheet of the CBDC emitting central bank could strongly expand. A knock-on effect may be that domestic monetary policy in countries that suffer from increased currency substitution becomes less effective. By contrast, a multilateral approach including reasonable holding limits could mitigate these risks.

    Meanwhile, the RBI has made valuable contributions to the topic of retail CBDC. The digital rupee based on blockchain technology was launched on 1 December 2022. It is issued by the central bank and distributed by commercial banks. As I understand it, the RBI intends to tap the potential for using CBDCs in cross-border payments as well.

    3 A digital euro: The cross-border dimension

    In the Eurosystem, we expect a digital euro to be launched in just a few years’ time. The primary goal of a digital euro is meet the domestic needs of the euro area. To some extent, however, this goal already includes a significant cross-border dimension. Let me explain what I mean by that. A quarter century on from the introduction of the euro, there is still no single pan-European solution for digital payments when people go shopping in stores or online. This means there is a risk that traditional cashless payment solutions offered by private European payment service providers will not match customer needs.

    To be fair, some euro area Member States have successfully implemented innovative digital solutions in the area of payments – I am thinking, for example, of the online payment system iDEAL in the Netherlands or Bizum Wallet in Spain. However, such payment solutions by themselves usually only function within national borders. Promising initiatives have been underway in recent years to widen the scope of these solutions. For example, iDEAL was successfully acquired by the European Payments Initiative, a company founded by several European banks and financial services companies. This initiative seeks to create a truly pan-European payment solution in the near to medium term. 

    This shows that the European payments sector has made meaningful progress; however, there are challenges further ahead. International payment providers, particularly those offering credit card schemes, still heavily dominate the European market for payment services – and even more when it comes to payments abroad.

    A digital euro would be a major step forward in this context. It would provide a standardised digital means of payment for day-to-day transactions throughout the euro area. Despite the need for a more integrated payment system, we are determined to prevent the Eurosystem’s footprint in the European financial system from becoming too large. We are therefore planning to issue a digital euro, but not to distribute it. This means that banks and other payment providers should assume the role of the CBDC interface between the Eurosystem and the customers.

    The euro area currently consists of 20 Member States, each of which has its own banking system with its own unique features. Against this background, I am sure you can imagine the overall complexity of our task. Therefore, our current focus is on making the digital euro accessible for all users within the euro area. We are investing great effort in our work on this, and we are constantly explaining what we do and why we do it, not least because a number of people are sceptical of CBDCs. 

    Once we have accomplished a digital euro for all users within the euro area, it will, in my view, be worth considering making it accessible to users outside the euro area as well. Rules for geographical access to a digital euro will be set down in legislation. If European legislation allows, access to a digital euro can also be granted to consumers and firms in the Member States of the European Economic Area outside the euro area. Selected non-EU countries can be included as well.[7]

    Ideally, the D€ would be interoperable with other CBDCs from the very start, for example, for person-to-person payments or commercial payments from or to firms outside the euro area. However, this is currently a vision for the future, since, as already mentioned, we first have to overcome numerous challenges to establish a retail digital euro that works within the euro area.

    4 Concluding remarks

    Let me conclude. So far, CBDCs are newcomers to the world of payment systems. We can only estimate how large a role they will end up playing in payment transactions. This is all the more true when it comes to cross-border payments.

    The scepticism about CBDCs in many quarters is not uncommon for many technological innovations. For example, in the early 1980s, “computerphobia” was a widespread phenomenon.[8] This took a wide range of forms, even fear of physically touching a computer or feeling threatened by those who worked with them. Today, this may seem very strange to us. Computers have since become an essential day-to-day tool for us.

    And so we will continue our efforts to implement CBDCs. I am confident that this will ultimately make our payment systems better, faster and more efficient.

     

    Footnotes:

    1. ACI Worldwide Inc., It’s prime time for real-time: Real-time payments adoption and growth around the globe, Payment report 2024. 
    2. Lothian, J. R. (2002), The internationalization of money and finance and the globalization of financial markets, Journal of International Money and Finance 21, Vol. 6, p. 699-724.
    3. Garratt, R., Wilkens, P. K. and H. S. Shin, Next generation correspondent banking, BIS Bulletin No. 78, 30 May 2024.
    4. Deutsche Bundesbank, Cross-border interoperability of central bank digital currency, Monthly Report, July 2022, p. 59-75.
    5.  ISO 20022 | ISO20022
    6.  Project Dunbar – International settlements using multi-CBDCs (mas.gov.sg)
    7.  International aspects of CBDCs: update on digital euro (europa.eu)
    8. LaFrance, A., When People Feared Computers, The Atlantic, 30 March 2015.

    MIL OSI Economics –

  • MIL-OSI Russia: Financial news: Innovations in the precious metals market from October 21

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    Launch of PLT and PLD trading

    Trading in platinum (PLT/RUB) and palladium (PLD/RUB) will begin on the Foreign Exchange Market and the Precious Metals Market.

    Trading platinum and palladium provides a wide range of investors with the opportunity to diversify their portfolio and hedge risks.

    Trading parameters: Trading will be carried out with TOD and TOM settlements, and SWAP transactions will also be available.

    Trading time schedule in System mode: 10:00 – 19:00.

    To access trading, you must open Trading and Banking Accounts in platinum and palladium using the application form located on the website of NPO NCC (JSC) (Application for opening a trading bank account in precious metal): https://www.nationalslaringcenter.ru/catalog/02100101

    For all questions, you can contact your personal manager.

    Contact information for media 7 (495) 363-3232PR@moex.com

    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.

    https://www.moex.com/n73942

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Making another stride towards making India global leader in economy and frontline player in ensuring greener, cleaner planet, Minister Dr Jitendra Singh inaugurates India’s first Demonstration Facility for Biopolymers in Pune

    Source: Government of India

    Making another stride towards making India global leader in economy and frontline player in ensuring greener, cleaner planet, Minister Dr Jitendra Singh inaugurates India’s first Demonstration Facility for Biopolymers in Pune

    The Facility exemplifies how technological advancements in bioplastics can lead to economic growth: Dr Jitendra Singh

    India’s Bioeconomy grew more than $150 billion in 2023; expected to achieve $300 billion by 2030: the Minister

    Posted On: 13 OCT 2024 6:20PM by PIB Delhi

     Making yet another stride towards making India a global leader in economy and a frontline player in ensuring greener and cleaner planet, Union Minister of State (Independent Charge) for Science and Technology, Minister of State (I/C) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr Jitendra Singh today inaugurated India’s first Demonstration Facility for Biopolymers in at Jejuri in Pune from New Delhi today. The facility has been built by Praj Industries.

    Addressing the audience, Dr Jitendra Singh said, “This ‘First-of-its-kind Demonstration Facility for Biopolymers in India’ is a pioneering effort in developing indigenously integrated technology for the production of Polylactic Acid (PLA) bioplastic. This marks a pivotal development for India’s commitment to sustainable solutions. This demonstrates India’s resolve to transition from fossil-based plastics to eco-friendly alternatives, crucial for addressing the global plastic pollution crisis.”

    Speaking about India’s advancement in the field of science and technology, he said, “India has emerged as a highly alluring destination on a global scale, propelled by Prime Minister Shri Narendra Modi’s visionary endeavour to establish the country as “Atmanirbhar”. Our Bioeconomy has grown more than $150 billion in 2023, and is expected to achieve $300 billion by 2030.”

    The emphasis on Green Growth in the Union Budget (2023-2024); Prime Minister Shri Narendra Modi’s vision to make India a ‘Net Zero’ carbon economy and ‘Lifestyle for the Environment (LiFE)’ launched by the PM in October 2022. This will also enable dual goals of ‘Atmanirbhar Bharat’ and ‘Make-in India’ with a foundational focus on biosafety, ethics and inclusive growth. He emphasised that the Union has approved the BioE3 (Biotechnology for Economy, Environment and Employment) Policy of DBT. The BioE3 Policy is an important step forward towards sustainable growth in the backdrop of climate change, depleting non-renewable resources and unsustainable waste generation.

    Dr Jitendra Singh further said, “India now ranks 12th in the world in biotech and 3rd in Asia-pacific. We are the largest vaccine manufacturer and the 3rd largest Startup ecosystem,” adding, the Biotech ecosystem in the country is emerging at a rapid pace with the setting up of 95 bio incubators and increasing numbers of Biotech Startups. The Biotech Startups have experienced remarkable growth, increasing from just about 50 in 2014 to over 8,500 in 2023. The rise of Biotech Startups is pivotal for our future economy. These efforts place India at the forefront of the global bioplastics movement, showing the world how biotechnology can contribute to a cleaner, more sustainable future.

     

    Speaking about the partnerships between industry, academia, and government, he said, it is crucial for translating innovative ideas into real-world solutions and fostering innovation through research and development. This facility symbolises a new chapter for India’s bioeconomy. It showcases our ability to lead in technological innovation and offers a sustainable pathway to reducing Environmental impact. He concluded by saying, “It is time for broader synergy among all professions to achieve the “Amrit Kaal” goals over the next 25 years for advancements in the biotechnology sector which underscores India’s potential as a global player in the field.

    *****

    NKR/DK

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    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Tito Mboweni: South African Minister and Reserve Bank governor who drove significant economic reforms

    Source: The Conversation – Africa – By Roy Havemann, Research Associate, Stellenbosch University

    Tito Mboweni, former South African Reserve Bank Governor, Minister of Finance, and Minister of Labour was arguably one of the country’s most consequential economic policymakers and drove several significant economic reforms.

    Mboweni passed away on 12 October 2024 after a short illness.

    Born on 16 March 1959, he received a Bachelor of Arts in Economic and Political Science from the National University of Lesotho in 1985. He had attended the University of the North between 1979 and 1980 but left South Africa to go into exile in his second year of studies. In 1987, he obtained a Master of Arts in Development Economics from the University of East Anglia in the UK.

    He began his career in government as Minister of Labour in President Nelson Mandela’s 1994 administration. As the first Minister of Labour in the new democratic South Africa, he took several steps to improve the relationship between business and labour.

    Among these were major legislative reforms, including the Basic Conditions of Employment Act, Labour Relations Act, Mines Health Safety Act and the NEDLAC Act, designed to improve cooperation between different “constituencies” – labour, business, and government.

    He was appointed as the Eighth Governor of the South African Reserve Bank in 1999. In this role he introduced inflation targeting and presided over the first monetary policy committee meetings. This substantially modernised the Bank’s approach. For instance, Mboweni introduced a monetary policy statement outlining the reasons for the Bank’s decisions. These were televised, bringing new transparency to the conduct of monetary policy. Before this, the bank’s targeted monetary policy aggregates, and its communications, were made through printed documents.

    Monetary Policy Forums took monetary policy to many parts of the country, bringing a new openness and engagement between the Bank and ordinary South Africans.

    He held the position of Governor until 2009. But his legacy endures. The South African Reserve Bank is highly regarded across the world, with an inflation rate that is firmly within the target range and well-anchored inflation expectations.

    As finance minister

    Shortly after Cyril Ramaphosa was inaugurated as President of the Republic of South Africa in 2018, the then Finance Minister Nhlanhla Nene resigned. The President appointed Mboweni as Minister of Finance in October 2018.

    Mboweni made three consequential decisions in South Africa’s economic policy trajectory.

    The first was the decision, in 2019, to freeze government wages from 2020. He was alarmed by the rapid and unsustainable increase in government wages. Together with slowing economic growth, this led to a fiscal position that was deteriorating at an alarming pace. The wage freeze ultimately started the slow return to the fiscal rectitude that had been the hallmark of the period of government before Jacob Zuma became president in 2009.

    The second, also in 2019, was the publication of a paper on economic growth. It was known officially as “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa”.

    Unofficially it was known as the “Tito Paper”.

    This set out a programme of much-needed economic reforms – including steps to lift the restrictions on private power generation. In the six years since the publication of the policy paper (and the subsequent reforms), a total of 6 GW of non-Eskom electricity has been added to the grid, saving South Africa six stages of load-shedding.

    Other recommendations of the paper are being followed, including those for rail, telecommunications and ports.

    The third was the introduction of a comprehensive response to the COVID-19 pandemic. This included a significant expansion of the grants system, with a Social Relief of Distress grant pegged at R350 per person per month. Research by the NIDS-CRAM initiative, led by Dr Nic Spaull of Stellenbosch University, has highlighted how the grant positively affected millions of people’s lives.

    Enduring legacy

    It is difficult to think of any other economic policymaker who has left such an enduring legacy.

    Stellenbosch University awarded him an honorary doctorate in 2010 and appointed him Professor Extraordinary of Economics from 2002 to 2005 . He was a frequent participant at Bureau for Economic Research conferences. There, his engaging speaking style made him a popular drawcard.

    His love of red wine and engaging conversation made him a popular visitor at the university. In 2010, he spent time at the Stellenbosch Institute for Advanced Studies as part of a research group working on the global financial crisis and its consequences for democracy.

    This is an edited version of a tribute published by the Bureau for Economic Research, Stellenbosch University.

    – Tito Mboweni: South African Minister and Reserve Bank governor who drove significant economic
    reforms
    – https://theconversation.com/tito-mboweni-south-african-minister-and-reserve-bank-governor-who-drove-significant-economic-reforms-241236

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Tele MANAS: Revolutionizing Mental Health Care in India

    Source: Government of India

    Tele MANAS: Revolutionizing Mental Health Care in India

    Over 14.7 Lakh Calls Served in Two Years, Transforming Mental Healthcare Accessibility

    Posted On: 13 OCT 2024 7:23PM by PIB Delhi

    Click here for more detail:- Tele MANAS: Revolutionizing Mental Health Care in India

    ****

    Santosh Kumar/ Sarla Meena/ Saurabh Kalia

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    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: The remarkable career of Tito Mboweni: from South African freedom fighter to central bank governor and trusted politician

    Source: The Conversation – Africa – By Jannie Rossouw, Visiting Professor at the Business School, University of the Witwatersrand

    It is sad to write about Tito Mboweni in the past tense.

    Tito Titus Mboweni, who was born on 16 March 1959 in Tzaneen, a town in South Africa in what was then the Transvaal, passed away after a short illness in Johannesburg on 12 October 2024.

    After the announcement of his death, tributes poured in for this South African leader. Many have been touched by his legacy in politics, business, governance and the economy of South Africa.

    While not without some shortcomings, his career from being a freedom fighter to becoming a trusted and popular public figure serves as an enduring example to others in leadership.

    A career in service of society

    During his lifetime, Mboweni managed to achieve multiple accomplishments. The first period of his career was as member of the African National Congress (ANC) liberation movement in exile, where he served as deputy head of the Department of Economic Policy in the ANC.

    Political and public service was a second part of his career.

    After the democratic elections of 1994, Mboweni served as minister of labour in the first cabinet of Nelson Mandela. In a surprise announcement in 1998, Mboweni was appointed as an advisor to the then governor of the South African Reserve Bank, Chris Stals. This was to prepare Mboweni for appointment as governor after the retirement of Stals.

    Mboweni could not move directly into the position as governor, as section 4(2)(a) of the South African Reserve Bank Act states that the “governor shall be a person of tested banking experience”.

    By serving as an advisor to Stals for a little over a year, Mboweni met this legal requirement. He was appointed as the eighth governor of the central bank on 8 August 1999.

    At the time there were concerns about his commitment to the continuation of a policy of controlling inflation, ushered in successfully by Stals in the preceding decade. But Mboweni soon showed his commitment to the continued control of inflation.

    He replaced the previous structure used for monetary policy decisions by Stals by establishing the Monetary Policy Committee in October 1999. This was in preparation for the adoption of inflation targeting as a policy objective for the bank.

    After his retirement from the Reserve Bank, Mboweni commenced with the next stages of his career: a successful stint in business, which was interrupted by his return to politics. He served as minister of finance from 9 October 2018 to 5 August 2021. In this role he made it very clear that South Africa had to adopt a more prudent fiscal policy to avoid a too rapid growth in government debt. But this viewpoint made him unpopular with many cabinet and ANC colleagues, trade unions and others.

    Once he left politics, Mboweni resumed his career in business. He also served the South African community in different ways. He held a number of appointments as honorary professor and was also a patron of the arts. He was also well-known for his enthusiasm for cooking, which he often posted about on social media.

    Challenges

    Mboweni had to withstand political pressure on the issue of the role of the Reserve Bank. He was exemplary in his protection of the autonomy and independence of bank, which is set out in sections 223 to 225 of the South African Constitution.

    In this respect, he followed in the footsteps of Stals.

    Politicians favour lower interest rates, particularly during election periods. But Mboweni was not afraid of being unpopular. He was steadfast in protecting the autonomy and independence of the South African Reserve Bank. Mboweni also led the central bank during the global financial crisis of 2008 . South Africa was one of the countries that did not suffer a banking crisis or collapse during that period.

    Achievements

    Mboweni’s single biggest achievement was his successful transition from an ANC freedom fighter in exile to his roles as senior politician, central bank governor and businessman.

    His successful adoption of a policy of inflation targeting despite opposition was also a major achievement. Under Mboweni’s leadership the South African Reserve Bank showed critics that South Africa can make a continuous commitment to a low rate of inflation.

    Other than establishing the Monetary Policy Committee, Mboweni also played a major role in bringing monetary policy closer to the people. Under his leadership, the bank was one of the first central banks in the world to announce monetary policy decisions about interest rates at a media conference. He also introduced the central bank’s Monetary Policy Forums, where the public can engage the senior leadership of the central bank on monetary policy.

    Shortcomings

    Mboweni had many successes in business, central banking and politics. He also a few shortcomings. One was that he did not insist on the readoption of the lower inflation target (3%-5%) announced in 2001, that was later abandoned. A lower inflation target some 20 years ago would have anchored South Africa’s inflation rate and inflation expectations on a lower trajectory.

    It is difficult to judge whether Mboweni’s somewhat untimely (though not necessarily unexpected) resignation as finance minister can also be regarded as a failure. However, a finance minister can only function optimally with the support of the head of state. Such support was clearly lacking.

    Legacy

    Mboweni leaves a legacy of a successful transformation from a freedom fighter to a businessman, central banker and politician. If more former freedom fighters made this successful transition, South Africa’s prospects would look considerably better.

    Another legacy is honesty and integrity. Mboweni was never embroiled in scandals or questionable business dealings. If other ANC cadres could follow this example, South Africa would also offer a better future for all its citizens.

    – The remarkable career of Tito Mboweni: from South African freedom fighter to central bank governor and trusted politician
    – https://theconversation.com/the-remarkable-career-of-tito-mboweni-from-south-african-freedom-fighter-to-central-bank-governor-and-trusted-politician-241234

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Shri Dharmendra Pradhan to launch 3 AI – Centres of Excellence on Healthcare, Agriculture and Sustainable Cities on 15th October, 2024

    Source: Government of India

    Posted On: 14 OCT 2024 1:28PM by PIB Delhi

    Union Minister for Education, Shri Dharmendra Pradhan, will be launching three AI Centres of Excellence (CoE) focused on Healthcare, Agriculture, and Sustainable Cities on 15th October 2024 in New Delhi.

    To realize the vision of “Viksit Bharat,” these three CoEs for Artificial Intelligence (AI) will be led by top educational institutions, in consortium with industry partners and startups. They will conduct interdisciplinary research, develop cutting-edge applications, and create scalable solutions in these three areas. This initiative aims to galvanize an effective AI ecosystem and nurture quality human resources in these critical fields.

    As part of the vision to “Make AI in India and Make AI work for India,” the establishment of these centres was announced under Para 60 of the Budget Announcement for 2023-24. In alignment with this, the Government has approved the creation of the three AI Centres of Excellence, with a total financial outlay of Rs. 990.00 Cr over the period of FY 2023-24 to FY 2027-28.

    To oversee the implementation of this initiative, an industry heavy Apex Committee has been constituted, co-chaired by Dr. Sridhar Vembu, Founder and CEO of Zoho Corporation.

    Shri K.Sanjay Murthy, Secretary/HE will grace the occasion, along with Directors of IITs, Heads of higher educational institutions (HEIs), industry leaders, start-up founders and senior officials from various ministries of the Government of India.

    *****

    SS/AK

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Health Minister Shri JP Nadda inaugurates 19th International Conference of Drug Regulatory Authorities

    Source: Government of India (2)

    Union Health Minister Shri JP Nadda inaugurates 19th International Conference of Drug Regulatory Authorities

    ICDRA is being hosted for the first time in India, bringing together regulatory authorities, policymakers, and health officials from over 194 WHO member states

    During the unprecedented COVID 19 pandemic, India emerged not only as a global leader in health resilience and innovation but also reaffirmed its role as the Pharmacy of the World: Shri JP Nadda

    “The ICDRA platform provides a space to share knowledge, foster partnerships, and develop regulatory frameworks that ensure the safety, efficacy, and quality of medical products worldwide”

    “CDSCO has developed robust systems for approving safe and efficacious drugs and medical devices in the country and for export to more than 200 countries in the world”

    “More than 95% regulatory processes currently have been digitized at CDSCO, bringing transparency and increasing trust among stakeholders”

    Global cooperation is important in drug regulation, particularly in light of challenges such as antimicrobial resistance, the post-pandemic world, and the safe use of AI in healthcare: Dr Tedros Adhanom Ghebreyesus

    Posted On: 14 OCT 2024 1:48PM by PIB Delhi

    Shri Jagat Prakash Nadda, Union Minister of Health and Family Welfare inaugurated the 19th International Conference of Drug Regulatory Authorities (ICDRA), here today. The event which is being hosted for the first time in India, from 14th – 18th October by the Central Drugs Standard Control Organization (CDSCO), Ministry of Health and Family Welfare, in collaboration with the World Health Organization (WHO) brought together regulatory authorities, policymakers, and health officials from over 194 WHO member states.

     

    Addressing the occasion, Shri JP Nadda emphasized on the shared commitment for enhancing global healthcare standards and safeguarding public health. He highlighted that during the unprecedented COVID 19 pandemic, India emerged not only as a global leader in health resilience and innovation but also reaffirmed its role as the Pharmacy of the World. “India rapidly expanded its healthcare infrastructure and scaled up vaccine production to meet both domestic and global demands. The successful rollout of the COVID-19 vaccination program, covering over a billion people, is a testament to the robustness of our healthcare system, the dedication of our health workers, and the soundness of our policies”, he said.

    The Union Health Minister highlighted that India played a crucial role in ensuring affordable access to essential medicines, vaccines, and medical supplies for nations across the globe. “Guided by the principle of ‘Vasudhaiva Kutumbakam’ – the world is one family, we extended our support to more than 150 countries, providing life-saving drugs and vaccines during the pandemic. This spirit of international solidarity is at the heart of India’s approach to global health. We believe that our progress is inseparable from the progress of the world, and as such, we remain committed to contributing to global health security and sustainability”, he said.

     

    Shri Nadda noted that “the ICDRA platform provides a space to share knowledge, foster partnerships, and develop regulatory frameworks that ensure the safety, efficacy, and quality of medical products worldwide.”

    Highlighting the achievements of CDSCO, Shri Nadda said that “it has developed robust systems for approving safe and efficacious drugs and medical devices in the country and for export to more than 200 countries in the world”. Availability of Quality medicine at affordable price is at the core, he said. He also informed that “8 drug testing labs are operational today while 2 more are in pipeline. 8 Mini testing Labs are operational at different ports for quick testing and release of drugs and raw material being imported. In addition, 38 State Drug Regulator’s Testing Labs are operational. Altogether, more than a hundred thousand samples are being tested every year under regulatory surveillance mechanism.”

    The Union Minister also stated that “more than 95% regulatory processes currently have been digitized at CDSCO, bringing transparency and increasing trust among stakeholders.” He also stated that, “Considering the importance of medical devices in health care delivery, Medical Device industry in India is also being regulated. Drugs Rules have been amended to make Good Manufacturing Practice Guidelines more comprehensive and at par with the WHO-GMP guidelines.”

    It was also pointed out that in order to make drug supply chain robust, it has been made mandatory to provide Bar Code or Quick Response Code (QR Code) on top 300 brands of drug products. Similarly, QR Code is mandatory on all API packs, either being imported or manufactured in India.

    The Union Minister concluded his address by underscoring India’s full committed to advancing global health. “We believe in 3 Ss i.e. “Skill, Speed and Scale” and by focusing on these three aspects, we have been able to meet the increasing demand for Pharma products while adhering to global quality standards without any compromise. We are prepared to address pressing challenges, from antimicrobial resistance to ensuring equitable access to life-saving treatments. We are not just participants in this dialogue; we are partners in building a healthier, safer and more resilient world”, he said.

    Dr. Tedros Adhanom Ghebreyesus, Director-General of WHO, in his speech, commended India for hosting this crucial global regulatory forum and highlighted the importance of global cooperation in drug regulation, particularly in light of challenges such as antimicrobial resistance, the post-pandemic world, and the safe use of AI in healthcare.

    Dr Saima Wazed, Regional Director, WHO Southeast Asia Region stated that “India is the largest provider of generic medicines while the Indian Pharmaceutical Industry is the third largest in the world. She noted that India provides over 50% of the world’s vaccine demands. She emphasized that a strong regulatory system is crucial to achieving universal health coverage and highlighted the need for strengthened regulatory convergence and information sharing between national regulatory authorities.

    Smt. Punya Salila Srivastava, Union Health Secretary stated that “the Indian pharmaceutical industry has recently become the 4th largest export sector of India, exemplifying the level of our integration into the global pharmaceutical supply chain. India is the third largest producer of pharmaceuticals in the world, and has the largest number of US FDA approved plants outside the USA.” She also highlighted that “India supply 50% of the world’s vaccines, most of them going to UN agencies like WHO, UNICEF and the Pan American Health Organization (PAHO) and to organisations like GAVI.

    Ms. Malebona Precious Matsoso, Co-Chair, WHO Intergovernmental Negotiation Body, South Africa said that “regulation of medical products is one of the most crucial aspects today. The impact of regulatory decisions is found not only at the national or global level but also in the hospital rooms.” Public health interventions and response can be shortened through efficient regulation and oversight, she said.

    Highlighting India as the pharmacy of the world, she said that this tag comes with certain expectations and capacities about India. She concluded her address by emphasising on smart regulation as opposed to under-regulation and over-regulation.

    Dr. Rajeev Singh Raghuvanshi, Drugs Controller General of India highlighted India’s achievements in drugs control and medical devices sector, including the approval of India’s first CAR T-cell therapy. “We are continuously upgrading our skills and capacities in our systems and are on a path towards low regulation and high execution”, he said.

    As a precursor to the main conference, an exhibition was also held which showcased India’s innovation, capabilities, and leadership in the pharmaceutical, medical devices, and clinical research sectors. Key industry players, including pharmaceutical giants, medical device manufacturers, and healthcare innovators, presented their advancements and breakthroughs to an international audience of regulators and stakeholders. This exhibition served as a testament to India’s standing as the “Pharmacy of the World” and its growing influence in global healthcare.

    In addition to the main conference sessions, several side meetings will take place, where representatives from various countries will engage in focused discussions on specific regulatory challenges and opportunities. These meetings will facilitate bilateral and multilateral dialogues on strengthening regulatory systems, promoting innovation, and fostering collaboration to address global health needs.

    Key Discussions and Regulatory Challenges

    The 5-day conference will feature a series of insightful sessions where regulatory authorities and industry leaders will deliberate on key issues affecting global drug and medical device regulation. Some of the prominent sessions include:

    • Plenary Session on Smart Regulation: Discussions will revolve around the evolving landscape of regulatory reliance and the World Listed Authorities (WLA) framework. Global regulators will explore how to enhance cooperation to streamline processes across countries.
    • Workshops on Medical Devices: A significant focus will be placed on the regulation of medical devices, including IVDs (In Vitro Diagnostics), where experts will discuss trends in global and regional regulatory frameworks.
    • Quality of Pharmaceutical Starting Materials: This workshop will shed light on the need for stringent regulations in ensuring the quality and safety of pharmaceutical products from their very inception.
    • Artificial Intelligence in Healthcare: Regulators and industry experts will discuss the role of AI in improving regulatory oversight, pharmaco-vigilance, and clinical trials, while also addressing the challenges related to data privacy and implementation.
    • Regulatory Preparedness in Response to the COVID-19 Pandemic: This is a plenary session focused on the lessons learned from the COVID-19 pandemic and the need for continued regulatory innovation to prepare for future public health emergencies.

    The 19th ICDRA will emphasize strengthening global regulatory systems through partnerships and collective efforts. Regulatory authorities from various nations will discuss challenges and opportunities in harmonizing regulations for medical products, addressing antimicrobial resistance (AMR), and advancing traditional medicines.

    Dr Rajiv Bahl, Secretary, Dept. of Health Research and DG ICMR; Shri Rajiv Wadhawan, Advisor (Cost), Health Ministry; Dr Roderico H. Ofrin, WHO Representative to India and senior officials of the Union Health Ministry were present at the event.

    ***

    MV

    HFW/ HFM ICDRA Inaugural /14th October 2024/1

    (Release ID: 2064618) Visitor Counter : 105

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Shri Dharmendra Pradhan to announce 3 AI – Centres of Excellence on Healthcare, Agriculture and Sustainable Cities on 15th October, 2024

    Source: Government of India (2)

    Posted On: 14 OCT 2024 1:28PM by PIB Delhi

    Union Minister for Education, Shri Dharmendra Pradhan, will be announcing three AI Centres of Excellence (CoE) focused on Healthcare, Agriculture, and Sustainable Cities on 15th October 2024 in New Delhi.

    To realize the vision of “Viksit Bharat,” these three CoEs for Artificial Intelligence (AI) will be led by top educational institutions, in consortium with industry partners and startups. They will conduct interdisciplinary research, develop cutting-edge applications, and create scalable solutions in these three areas. This initiative aims to galvanize an effective AI ecosystem and nurture quality human resources in these critical fields.

    As part of the vision to “Make AI in India and Make AI work for India,” the establishment of these centres was announced under Para 60 of the Budget Announcement for 2023-24. In alignment with this, the Government has approved the creation of the three AI Centres of Excellence, with a total financial outlay of Rs. 990.00 Cr over the period of FY 2023-24 to FY 2027-28.

    To oversee the implementation of this initiative, an industry heavy Apex Committee has been constituted, co-chaired by Dr. Sridhar Vembu, Founder and CEO of Zoho Corporation.

    Shri K.Sanjay Murthy, Secretary/HE will grace the occasion, along with Directors of IITs, Heads of higher educational institutions (HEIs), industry leaders, start-up founders and senior officials from various ministries of the Government of India.

    *****

    SS/AK

    (Release ID: 2064613) Visitor Counter : 311

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Written question – Unlocking the potential of geothermal energy – E-001894/2024

    Source: European Parliament

    Question for written answer  E-001894/2024/rev.1
    to the Commission
    Rule 144
    Ioan-Rareş Bogdan (PPE)

    Geothermal energy represents a largely untapped and highly promising renewable energy source in Europe. With its potential to provide a stable, low-carbon and cost-effective energy supply, geothermal could play a significant role in achieving the EU’s climate and energy goals.

    However, despite this potential, geothermal energy remains underutilised compared to other renewable sources such as wind and solar power.

    • 1.How does the Commission intend to address the existing financial, regulatory and technical barriers that currently limit the expansion of geothermal energy projects in Europe?
    • 2.Will the Commission consider creating specific funding mechanisms or support schemes for geothermal energy development?

    Submitted: 1.10.2024

    Last updated: 14 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Highlights – Visit of Hungarian Presidency – Committee on Transport and Tourism

    Source: European Parliament

    EU and Hungarian flags fly in front of a Hungarian crest. © Attila KISBENEDEK / AFP

    On 14 October 2024 the TRAN Committee will welcome the Hungarian Presidency: Mr Nándor Csepreghy, Vice-Minister of the Ministry of Construction and Transport and Ms Anikó Túri, State Secretary for Administrative Affairs, they will present to the Members the priorities of the Hungarian Presidency in the field of transport and tourism. The presentation of debate will take place on Monday afternoon 14 October 2024 from where it will be webstreamed.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Quarrying in the area of Androlikou, in the Paphos district, Cyprus – P-001994/2024

    Source: European Parliament

    Priority question for written answer  P-001994/2024
    to the Commission
    Rule 144
    Giorgos Georgiou (The Left)

    The quarrying carried out over the last 40 years in the Androlikou area, in regions that are part of the Natura 2000 network, has caused serious and irreversible damage to the environment. However, although quarry operators have a legal obligation to restore the environment, they have never done so.

    In 2017 and 2022 opinions were issued as part of an evaluation report by the Department of Environment. These clearly stress that other quarry zones outside the Androlikou area, less harmful to the environment and to people, must be considered. Ignoring the warnings, the Mines and Quarries Service of the Cypriot ministry announced a public contract for the conduct of a study to evaluate the effects of the possible creation of a new quarry zone in the Androlikou area. This development, which infringes European policies on the environment, will prioritise the profits of business groups, wreaking more destruction on the environment in a protected region and further degrading the quality of life of those living in the area, putting public health at risk.

    In view of this:

    • 1.What is the Commission’s position on the residents’ request that a new quarry in the region be refused permission, to avoid further destruction of the environment?
    • 2.What is its position on the taking of measures to restore the environment in the region, in accordance with European legislation?
    • 3.What is its view regarding the promotion of alternative solutions for the construction of marine and coastal projects?

    Submitted: 8.10.2024

    Last updated: 14 October 2024

    MIL OSI Europe News –

  • MIL-OSI Video: Lebanon: “Situation put peacekeepers at serious risk” – Security Council Briefing | United Nations

    Source: United Nations (Video News)

    Remarks by Mr. Jean-Pierre Lacroix, Under-Secretary-General for Peace Operations, on the situation in the Middle East – Security Council, 9746th meeting.

    —————————–

    Under-Secretary-General for Peace Operations Jean-Pierre Lacroix, for his part said, “this situation has put our peacekeepers at serious risk” and reported several incidents, including the wounding of two peacekeepers earlier today who were “hit by tank fire.”

    Also this morning, Lacroix said, “IDF soldiers fired on a UN position [UNP 1-31] from an opening in the fence made by the IDF the previous day during adjacent ground works. Several vehicles and a communications system were damaged.”

    The peacekeeping Chief said, “previously I have highlighted that Hizbullah activities in the vicinity of UN positions held the potential to draw return fire. Now, we face a similar situation with the Israel Defence Forces installing positions directly adjacent to UN positions – a development that we strongly protest.”

    He reported that the UN Mission in Lebanon, UNIFIL’s operational activities “have virtually come to a halt since 23 September” as peacekeepers “have been confined to their bases with significant periods of time in shelter” limiting the Mission’s monitoring and reporting ability.

    https://www.youtube.com/watch?v=7_oem5cEaNM

    MIL OSI Video –

  • MIL-OSI Video: UK Watch: House of Lords debates the UK’s electric vehicle strategy

    Source: United Kingdom UK House of Lords (video statements)

    Look out for this House of Lords debate on electric vehicles, coming up on Wednesday 16 October. Members are expected to discuss the process of a successful transition to electric vehicles (EVs) and meeting net zero targets.

    Find out more https://committees.parliament.uk/committee/515/environment-and-climate-change-committee/news/199773/the-uks-electric-vehicle-strategy-needs-a-rapid-recharge-says-lords-committee/

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

    Stay up to date with the House of Lords on social media:

    • Twitter: https://twitter.com/UKHouseofLords
    • Instagram: https://www.instagram.com/UKHouseofLords/
    • Facebook: https://www.facebook.com/UKHouseofLords
    • Flickr: https://flickr.com/photos/ukhouseoflords/albums
    • LinkedIn: https://www.linkedin.com/company/the-house-of-lords
    • Threads: https://www.threads.net/@UKHouseOfLords

    #HouseOfLords #UKParliament #StateOpening

    https://www.youtube.com/watch?v=qhT9n6LYNLk

    MIL OSI Video –

  • MIL-OSI United Kingdom: Date confirmed for path improvement works at Culloden Moor

    Source: Scotland – Highland Council

    The public are being advised by The Highland Council of path improvement works alongside the C1028 and B9006 at Culloden Moor between Treetops Stables and Brookfield.

    This will provide a surfaced path network from Balloch and Viewhill to Brookfield and Sunnyside providing an improved connected provision for walking, wheeling and cycling.

    Path preparation works will commence Monday 21 October and are expected to take six days until Saturday 26 October.  Following this, on Monday 28 October surfacing works to lay the new bituminous surface course is anticipated to take 4 days, with the work completed on Thursday 31 October.

    In the interests of safety, the path and woodland car park will be closed to public access on these dates when works are being carried out. This is necessary due to the use of plant and machinery on and along the path lengths.

    A temporary 30 mph speed limit will be in place on the C1028 and B9006 over the lengths of the works.  Temporary traffic lights will be in operation on the roadside section at Brookfield between Thursday 24 to Saturday 26 October for preparation works and from Wednesday 30 to Thursday 31 October for surfacing works.

    Advance signs will be erected on the path and car park giving prior notice to the public about the forthcoming works.

    Path lengths will be opened up to public use when it is safe to do so.

    The Highland Council apologises for any inconvenience.

    14 Oct 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: The Highland Council is ready for winter

    Source: Scotland – Highland Council

    The Highland Council’s winter service starts today (Monday 14 October) and the Council is ready to treat – according to its policy – the 785km of roads for which it has responsibility.

    Chair of the Council’s Economy and Infrastructure Committee, Councillor Ken Gowans said: “I’m pleased to report that we have all the supplies and resources in place to provide a winter service according to the Council’s policy.  Council roads and pavements are gritted as specified within the council’s agreed winter service policy.

    “Service levels throughout the local Areas will remain, essentially, unchanged from last year.  When required, and when weather conditions allow, operations, Monday to Sunday, start at 6am and continue until 9pm, on a priority basis. There is no overnight service. On days classed as public holidays a restricted service is provided which starts at 7am.

    He added: “When it comes to winter gritting, we are grateful for the great support we received last year from most members of the public who showed great awareness and understanding of taking extra precautions when travelling in bad weather and checking before setting out on journeys. I would also like to recognise the work of our staff who work hard, often in extreme weather conditions, to keep routes open.

    “We will continue to do what it can within our resources and policy however, I would encourage communities to come forward and apply for winter resilience assistance from the Council that will provide them with salt in grit bins or heaps and other equipment to take action in their local areas that are important to them.”

    Community groups, volunteer groups and individuals who require further information or are wanting to access the Winter Resilience Programme can contact their Area Roads Office by email. Information is on the Council’s website –  The winter fleet mobilisation programme is complete and includes vehicle servicing and calibration of salt spreading equipment.  The fleet includes over a hundred gritters, footpath tractors and over 200 staff providing winter services.

    The council can confirm it has adequate salt stocks for the region of 40,000 tonnes for the start of the main winter season and that there are no concerns about future provision of deliveries from the council’s supplier.

    Cllr Gowans added a warning. He said: “Salting will not prevent roads from icing up in extreme conditions. This is particularly relevant on low traffic roads where there are insufficient vehicle movements to aid the interaction between the salt and the ice crystals, so we urge drivers to be extra careful driving in these conditions.”

    •  Drivers should take account of prevailing weather and road conditions.
    • Winter weather conditions within the Highlands can be very localised.
    • Black ice can be a particular danger. You cannot see it and it can still be there even after treatment.
    • Dawn frosts can also catch drivers unaware. At first light a clear sky will allow heat to radiate quickly from the road surface causing icy patches to form on wet or damp roads.

    Staff involved in winter services provision at area level are trained in using the Council’s weather forecasting service. The forecasts are used each year to assist local decision-making on daily and longer-term winter services actions.

    Area Winter Service Plans are set by Area Committees within Council strategy and budget allocated by the Economy and Infrastructure Committee.  The current Winter Service maps for each area will shortly be available from the Council’s website.

    Trunk roads in Highland are the responsibility of Transport Scotland and their operators Bear Scotland and AMEY.

    MIL OSI United Kingdom –

  • MIL-OSI: Form 8.3 – [KEYWORDS STUDIOS PLC – 11 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 KEYWORDS STUDIOS PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 11 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,366,589 1.6969    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,366,589 1.6969    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 300 2436.201p
    1p ORDINARY SALE 755 2438.2p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 14 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI United Kingdom: Champions enhance ABC Borough’s Age Friendly status

    Source: Northern Ireland City of Armagh

    Armagh City, Banbridge and Craigavon Borough’s reputation as an area where older people can live full, active, valued and healthy lives, has been further enhanced with the appointment of new Age Friendly Champions.

    Lord Mayor, Cllr Sarah Duffy and Deputy Lord Mayor, Cllr Kyle Savage have been joined by Chair of the Environment Committee, Alderman Margaret Tinsley and Deputy Chair of the Environment Committee, Cllr Kate Evans as Age Friendly Champions for the ABC Borough.

    Last year, the Borough became an official member of the World Health Organisation’s (WHO) Global Network for Age-friendly Cities and Communities and the addition of two more Age Friendly Champions is a further reflection of the commitment from ABC Council in listening to the needs of the ageing population and providing effective advice, support and practical help.

    The four Age Friendly Champions have come together to highlight support to those pensioners who may be impacted by the forthcoming changes to the Winter Fuel Payments.

    At its monthly meeting in September, ABC Borough Council agreed to write to the Prime Minister urging the Government to reverse the changes to Winter Fuel Payments. The Council motion is also seeking assurance that, at the very least, the Pension Credit minimum income guarantee will be increased, ensuring that more low-income pensioner households become eligible for pension credit.

    Together, the Age Friendly Champions are calling on pensioners and also their family and carers, to check for Pension Credit status, which may allow them to receive the payment. Pension Credit checks can be made through the Age NI charity which has an online benefits calculator. Alternatively there is the Department for Communities’ ‘Make the Call’ service, which also lets people know what benefits they are entitled to.

    You can visit the Age NI website here – https://www.ageuk.org.uk/information-advice/money-legal/benefits-entitlements/benefits-calculator/ or contact the Department for Communities’ Make the Call service on tel: 0800 232 1271

    A number of information events focusing on benefits and support are being held as part of Positive Ageing Month in the ABC Borough – for more information visit http://www.armaghbanbridgecraigavon.gov.uk/PAM

    MIL OSI United Kingdom –

  • MIL-OSI: Nokia, Windstream Wholesale and Colt Technology Services join forces to complete world’s first ultra-fast 800GbE optical and IP service trial connecting London and Chicago

    Source: GlobeNewswire (MIL-OSI)

    Press release
    Nokia, Windstream Wholesale and Colt Technology Services join forces to complete world’s first ultra-fast 800GbE optical and IP service trial connecting London and Chicago

    • Transatlantic partnership extends potential for capacity, speed and latency while reducing power usage on popular Europe/US route.
    • Service trial spanned 8500km subsea and terrestrial route over live production network.
    • 800GbE can support advanced network applications like AI data center networking, content delivery networks, and financial data hub connections.

    14 Oct 2024
    Espoo, Finland – Nokia, Windstream Wholesale (WW), an optical technology leader in advanced network solutions, and Colt Technology Services (Colt) today announced the successful completion of a world-first 800 Gigabit Ethernet (800GbE) service trial connecting London, UK with Chicago, US across an 8500km subsea and terrestrial route over the production network. The trial showcased innovative power-saving networking technologies from the three global tech businesses to test the boundaries of next-generation wavelength, capacity, speed and latency between two of the world’s largest financial trading hubs.

    The field trial involved connecting one of Colt’s five powerful transatlantic subsea cables and part of its extensive terrestrial fiber optic network with Windstream Wholesale’s domestic U.S. low latency, optical fiber Intelligent Converged Optical Network (ICON) monitoring speed and performance. Together, Colt and Windstream Wholesale have partnered to demonstrate the world’s first transoceanic 800 gigabit ethernet (GbE) end-to-end service transport from router to router over 1Tbps optical transport. The trial was successfully delivered using Nokia’s pioneering sixth-generation Photonic Service Engine (PSE-6s) coherent optics and 7750 Service Router (SR) high-performance routing platforms boosting internet service speeds and supporting ultra-high wavelength capacity, while maintaining power efficiency.

    800G marks a breakthrough in service bandwidth, doubling capacity to support advanced network applications like AI data center networking, content delivery networks, and financial data hub connections.

    Buddy Bayer, Chief Operating Officer of Colt Technology Services, said: “Pushing the boundaries of technology innovation is a fundamental part of our customer commitment: it means we stay a step ahead of the market, so we’re ready when our customers ask, “What’s next for us?” This trial has seen us build a powerful industry collaboration to explore the ‘what’s next?’. It’s tested the limits of infrastructure performance and capability across thousands of miles of land and sea with incredible networking technologies, and it’s demonstrated the power and potential of what can be achieved, without skipping a beat.”

    Joe Scattareggia, President of Windstream Wholesale, said: “Our latest innovation represents a true game-changer for global connectivity. By partnering with two extraordinary leaders in the industry, we’re enabling unprecedented bandwidth capabilities that are essential for driving AI-powered applications worldwide for our customers. As an optical technology leader, Windstream Wholesale and our partners are establishing 800GbE as the next evolutionary advancement increase for wave services. This collaboration has pushed the boundaries of what’s possible, creating a network solution like no other. Together, we’re not just meeting the demands of the future—we’re shaping it.”

    Federico Guillén, President of Network Infrastructure at Nokia, said: “Such an ambitious project — to link two of the world’s most important financial hubs — sets the bar very high for network capacity, speed, security and reliability. This demonstration would simply not have been possible without the commitment of Nokia and our partners to the highest standards of innovation in networking technology. Together, we are redefining the art of the possible for IP and optical networks enabling cross-continental subsea and terrestrial communications.”

    Following the successful completion of the trial, the organizations are currently exploring options to bring 800GbE connectivity services to market for global business customers.

    Resources and additional information 
    Webpage: Nokia PSE-6s
    Webpage: Nokia Optical Networks

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

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

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

    About Colt Technology Services

    Colt Technology Services (Colt) is a global digital infrastructure company which creates extraordinary connections to help businesses succeed. Powered by amazing people and like-minded partners, Colt is driven by its purpose: to put the power of the digital universe in the hands of its customers, wherever, whenever and however they choose.
    Since 1992, Colt has set itself apart through its deep commitment to its customers, growing from its heritage in the City of London to a global business spanning 40+ countries, with over 6,000 employees and more than 80 offices around the world. Colt’s customers benefit from expansive digital infrastructure connecting 32,000 buildings across 230 cities, more than 50 Metropolitan Area Networks and 250+ Points of Presence across Europe, Asia, the Middle East, Africa and North America’s largest business hubs.

    Privately owned, Colt is one of the most financially sound companies in the sector. Obsessed with delivering industry-leading customer experience, Colt is guided by its dedication to customer innovation, by its values and its responsibility to its customers, partners, people and the planet.

    For more information, please visit http://www.colt.net

    About Windstream Wholesale

    Windstream Wholesale is an innovative optical technology leader that delivers fast, flexible, and customized wavelength and dark fiber solutions to carriers, content providers, and hyperscalers in the U.S. and Canada. Windstream Wholesale is one of three brands managed by Windstream. The company’s quality-first approach connects customers to new opportunities and possibilities by delivering a full suite of advanced communications services. Windstream also offers fiber-based broadband to residential and small business customers in 18 states as well as managed cloud communications and security services to mid-to-large enterprises and government entities across the U.S. Windstream is a privately held company headquartered in Little Rock, Ark. Additional information about Windstream Wholesale is available at windstreamwholesale.com. Follow us on X (Twitter) @Windstream and LinkedIn at @Windstream.

    To view the Windstream Wholesale network map, visit https://www.windstreamwholesale.com/wp-content/uploads/2022/05/Windstream-Wholesale-National-Network.pdf

    Media inquiries

    Nokia
    Sarah Miller
    Phone: 613-720-9716
    Email: sarah.miller@nokia.com

    Colt
    Anne Amlot
    Email: Anne.Amlot@colt.net

    Windstream
    Scott Morris
    Phone: 501-748-5342
    Email: scott.l.morris@windstream.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

  • MIL-OSI Security: What Is Blue Carbon?

    Source: International Atomic Energy Agency – IAEA

    Sediment that accumulates in the seagrasses, mangroves and marshes can be analysed to help indicate changes in the environment over periods of time, ranging from the past few years to millions of years ago. The capacity of vegetated coastal ecosystems to sequester and store carbon in their sediments can be measured by nuclear and isotopic techniques.

    The IAEA Marine Environment Laboratories in Monaco use these elements to determine the rates at which organic carbon accumulates in marine sediments using sediment core samples from vegetated coastal ecosystems. Sediment cores are collected by using long plastic tubes that during sampling are able to preserve the layers of sediment accumulated over time.

    The naturally occurring radioactive isotope lead-210 (210Pb), in combination with some artificial radionuclides such as caesium-137 (137Cs) are used to determine the sedimentation rates in the sediments at timescales of decades – up to around 100 years, a period during which human induced impacts on the environment have dramatically increased.

    These techniques encompass radiochemical separation and measurements by alpha and gamma spectrometry adapted to each isotope. This is then combined with the measurement of organic carbon contents and its isotopes along the sedimentary record by mass spectrometry methods to assess the organic carbon stocks and burial rates.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Mayor announces record-breaking £100m investment deals for Londoners

    Source: Mayor of London

    • Mayor announces record investment deals in London so far in 2024 despite global economic downturn and uncertainty
    • In 10 months, London has already seen nearly £10m more invested than in previous years
    • Three tech businesses that Sadiq met in New York announce further investment plans in the capital
    • International investment across the capital has created nearly 10,000 jobs for Londoners in industries of the future such as technology, life sciences, and the green sector in the last five years
    • The Mayor is attending the International Investment Summit bringing together policymakers and business leaders, as the Government drives forward its national mission for growth

    Today, the Mayor of London, Sadiq Khan, has announced record-breaking investment deals worth more than £100million for Londoners so far in 2024 – bucking the global trend – as he attends the Government’s first International Investment Summit to drive forward the national mission for economic growth.

    The Mayor has confirmed that three tech businesses whom he met on his recent trip to New York to bang the drum for London have further plans to invest in the capital. Indian IT giant Mphasis, which opened a new London office in September – has expanded its UK presence over the past year and will look to double its business over the next three years. Constant Contact, a digital marketing and automation platform that has helped millions of small businesses and nonprofits globally, will announce its official launch into the UK in the coming weeks. Financial technology company MoonPay, which builds payment infrastructure for crypto, is working with London & Partners as they look to invest and expand further in the capital.

    The deals done in partnership with London & Partners, the growth agency funded by the Mayor of London, have seen companies from China, Europe, India, and the US invest in the capital in the last five years, with 543 companies creating nearly 10,000 jobs for Londoners in industries of the future such as technology, life sciences, and the green sector.

    This year has so far seen more than £100m in investment deals for Londoners at a time of global economic downturn and uncertainty. In 10 months, London has already seen nearly £10m more invested than in previous years. This includes companies such as Recursion – a US biotech company that uses advanced technology like machine learning and robotics to speed up the discovery of new treatments for complex diseases – opening a new office in the ‘Knowledge Quarter’ in King’s Cross, joining Microsoft and Google DeepMind in rapidly expanding the fast-growing life sciences sector.

    One of the Mayor’s 10 key priorities is the new London Growth Plan, with a target of helping to create more than 150,000 good jobs by 2028 and increasing living standards for Londoners. The new growth plan aims to grow London’s economy, so we can improve the lives of all Londoners, drive London’s green transition and support prosperity in London and across the country. Sadiq is also investing £380m a year into skills, careers, and employment activity to ensure that Londoners get the skills and support that they need to progress into good quality jobs. Grow London Local is a free service supported by the Mayor of London giving small businesses access to in-person and digital support to help grow.  

    Today’s International Investment Summit marks a key moment for Mayors and other leaders who were held back by the previous government to work hand-in-hand with the new Government. Sadiq will work in partnership with the new Government to drive forward investment in the capital, promoting London as one of the world’s best cities in which to invest and do business, and to deliver the change London deserves, helping to create more well-paid jobs and opportunities for Londoners.

    Sadiq Khan, Mayor of London, said: “I’m proud that in 10 months London has already had a record-breaking year for investments – proving that our city is one of the best in the world to start and scale a business. My message is that London is open: open to business, open to investment, and open to new and fruitful partnerships.

    “London is home to fast-growing sectors at the innovation frontier like life sciences, AI, deep tech and climate tech, as well as a world leader in financial and professional services, digital technology and creative industries like film, TV and gaming, and the experience economy.

    “I am delighted to be attending the International Investment Summit, as we work with the new government to forge new partnerships, reset relationships and seize the opportunity to secure the long-term investment for London and continue building a better and more prosperous city for everyone.”

    Laura Citron OBE, CEO of London & Partners, the growth agency funded by the Mayor of London, said: “We all know that London is a brilliant place to grow a business. But with competition from other cities hotting up, we can’t just expect investors to come here.

    “That’s why we’re out fighting for every win. We target the most exciting, innovative companies and give them a world-class concierge service to invest in London.

    “We hold their hands every step of the way. That’s why London is bucking the global trend with record levels of investment despite a tough market.” 

    Business Secretary Jonathan Reynolds said: “Mayors up and down the country are working with us on our pro-growth, pro-business, pro-worker economy and these investment deals in London are the jewel in the crown.

    “This is just the beginning. We’re showing what can be achieved when we work together to give global businesses the certainty they need.”

    Nitin Rakesh, CEO and Managing Director, Mphasis, said: “We are thrilled to expand our operations in London, a city that aligns with our vision of innovation and growth. We extend our sincere thanks to Mayor Sadiq Khan and the supportive London ecosystem for their constant support.

    “London, a global hotbed for technology development is an ideal location for Mphasis’ latest innovation centre. Our centre highlights Mphasis’ commitment to delivering cutting-edge, AI-powered threat detection and response services for our clients. We look forward to strengthening partnerships and driving impactful innovation from this hub.”

    Keith A. Grossman, President of Enterprise at MoonPay, said: “The UK is well-positioned to drive innovation in Web3 and fintech. Since opening our flagship office in London this July, we’ve been impressed by the city’s exceptional talent pool and the support from partners like London & Partners and Mayor Sadiq Khan. We’re eager to expand our team in the area and expect to have over 100 employees by next year.”

    Frank Vella, CEO of Constant Contact said, “Small business has long been the engine that drives the economy, and London has long been a hub for small business innovation. We are proud to support this entrepreneurial spirit. By investing in London and the UK, we aim to empower small businesses with the tools and resources they need to market their businesses online, helping them reach new heights and contribute to the growth of local communities. Our commitment is to fuel their potential and foster a robust ecosystem where small businesses can succeed.” 

    MIL OSI United Kingdom –

  • MIL-OSI: Enlight Announces the Full Commencement of Commercial Operation of the Solar & Storage Cluster in Israel

    Source: GlobeNewswire (MIL-OSI)

    The Cluster includes 12 facilities, with a combined solar generation capacity of 254 MW and energy storage capacity of 594 MWh, and produces over 50% of the clean electricity in Israel’s newly deregulated power market

    Distributed generation facilities located in northern and southern Israel strengthen the energy and economic security of the agricultural communities involved in the Cluster

    TEL AVIV, Israel, Oct. 14, 2024 (GLOBE NEWSWIRE) — Enlight Renewable Energy (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading renewable energy platform, announces that it has completed the COD of its Solar and Storage Cluster (“the Cluster”) in Israel. The Cluster is comprised of 12 installations located in the northern and southern regions of the country, with a combined solar generation capacity of 254 MW and energy storage capacity of 594 MWh. Portions of the Cluster began commercial operation in 2023 and grid connections continued throughout 2024; this gradual COD process has been completed today.

    The entire output of the Cluster will be sold to Enlight’s supplier division, which markets the electricity direct to customers in Israel’s newly deregulated power market. This includes signing corporate PPAs with large industrial clients such as Soda Stream and Applied Materials, as well as sales to households and small businesses through a joint venture with Electra Power, in which Enlight owns a 35% stake. The Cluster’s generation volumes currently account for 50% of all clean power produced under the new regulatory framework.1

    The Cluster is expected to generate revenue of $34-36 million and EBITDA of $24-26 million in the first full operating year, before taking into account the additional margin generated by Enlight’s supplier division. The transition to a deregulated electricity market combined with the low production costs of renewable energy enables the Company to provide its customers with clean power at competitive prices, while at the same time yielding attractive returns for Enlight and its partners. Cluster installations have been built in cooperation with numerous agricultural communities in Israel, and partnership in the projects increases these regions’ energy and economic security.

    Gilad Peled, General Manager of Enlight MENA, commented, “Today we completed the commencement of full commercial operations at the largest group of renewable energy facilities operating in Israel’s deregulated power market. The Cluster will generate attractive returns for Enlight, while creating a stable and vital source of income for our partners in the agricultural communities of Israel.”

    1 Based on Company estimates and publicly available information.

    About Enlight Renewable Energy

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at http://www.enlightenergy.co.il.

    Contacts:

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; the potential impact of the current conflicts in Israel on our operations and financial condition and Company actions designed to mitigate such impact; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI: Invesco Ltd: Form 8.3 – StoneX Group Inc; Opening Position disclosure

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    OPENING POSITION DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Invesco Ltd.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 StoneX Group Inc.  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 10.10.2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 Yes, CAB Payments Holdings PLC  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: Common US8618961085  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 437,054 1.37      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 437,054 1.37      
       
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    Common US8618961085 Purchase 63 85.56 USD  
    Common US8618961085 Sale 256 85.56 USD  
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements, or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 14.10.2024  
    Contact name Philippa Holmes  
    Telephone number +441491417447  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Radware Reports Results of 2024 Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, Oct. 14, 2024 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced the results of its Annual General Meeting of Shareholders held October 10, 2024. The Company presented three proposals for the shareholders to vote on at the meeting, of which one proposal (to approve grants of equity-based awards to the President and Chief Executive Officer of the Company) was not adopted by the requisite shareholder vote. The two other proposals voted on at the Annual General Meeting were adopted by the requisite shareholder vote.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, YouTube, and Radware Mobile for iOS.

    ©2024 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Contacts
    Investor Relations:
    Yisca Erez, +972-72-3917211, ir@radware.com

    Media Contacts:
    Gerri Dyrek, gerri.dyrek@radware.com

    Safe Harbor Statement

    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at http://www.sec.gov or may be obtained on Radware’s website at http://www.radware.com.

    The MIL Network –