Category: Transport

  • MIL-OSI China: ​Liu Cixin opens sci-fi museum, wishes Musk success on Mars mission

    Source: China State Council Information Office 3

    An opening ceremony for a museum dedicated to the established sci-fi writer Liu Cixin was part of the first-day activities for the second Liu Cixin Hometown Science Fiction Culture Week in Yangquan, Shanxi province. 

    A photo captures the Liu Cixin Sci-Fi Museum. [Photo/Xinhua]

    Held from Oct. 13 to Oct.16 and in the writer’s hometown, the four-day cultural event includes an array of activities and events such as writers presenting lectures at local schools, a sci-fi and popular science writers’ symposium, a sci-fi literature writing contest, sci-fi artwork exhibitions as well as the opening ceremony for the Liu Cixin Sci-Fi Museum.

    The museum chronicles the award-winning writer’s life and growth, showcases his creative journey and literary achievements, and spotlights the various adaptations his literary works have received since their initial publications. Liu has penned seven novels and over 40 short stories and novellas, including “The Three-Body Problem” and “The Wandering Earth,” in Yangquan.

    During the ceremony, Liu expressed his hope that the museum, the first sci-fi museum focusing on a single sci-fi writer in China, would spark the public’s interest in science fiction literature, saying: “I hope that science fiction can bring readers more joy and awe, allowing them to touch the stars with their imaginations and embrace the future.”

    According to the 2024 China Science Fiction Industry Report, the total revenue of China’s sci-fi industry reached 113.29 billion yuan ($15.94 billion) in 2023, exceeding 100 billion yuan for the first time. A part of this is from adaptations of Liu’s works, with “The Wandering Earth” movies grossing billions of yuan in China’s film market and his Hugo Award-winning novel “The Three-Body Problem” generating influence and contributing to various industries’ profits. 

    However, Liu remained sober in his assessment: “Sci-fi literature has moved from a marginal existence into the spotlight in China, but the current state of this genre is not as flourishing as people might imagine. The popularity of ‘The Three-Body Problem’ was somewhat by chance; Chinese sci-fi literature still needs further, greater development.”

    Liu Cixin (left) announces with local and literature officials the grand opening of the Liu Cixin Sci-Fi Museum in Yangquan, Shanxi province, Oct. 13, 2024. [Photo courtesy of Yangquan Federation of Literary and Art Circles]

    Besides the museum’s opening ceremony on Oct. 13, Liu also attended other activities, such as a panel discussion where he stated that he greatly admires Elon Musk, whose spacecraft manufacturing company SpaceX successfully launched a test flight of Starship on the same day. 

    Back in September, Musk, the founder and CEO of SpaceX, announced on X, formerly known as Twitter and now owned by Musk, that the Starship mega-rocket would begin missions to Mars in two years, launching uncrewed flights to test the safeness of landings. If successful, crewed missions would follow within four years. Musk also stated that flight frequency would then be increased exponentially, aiming to build a self-sustaining city on Mars within 20 years.

    “Although the Mars colonization project may face many difficulties, I still hope he can succeed,” Liu said. When asked whether he would be willing to move to Mars, Liu laughed, responding that: “If it’s a round trip, I would be very willing to go, but if it’s a one-way trip, then it would be very difficult for me. I still have a lot of work to do on Earth, and there’s also my family.”

    Besides looking at how to inhabit the Red Planet, Musk’s business endeavors have also started speculating about technological advancements on the Earth. On Oct. 10, at the Tesla Cybercab robotaxi event, Musk, who is also the CEO of Tesla, shared his vision of a future filled with self-driving cars without steering wheels, parking lots transformed into parks and robots walking among humans. 

    “Musk is like someone who has jumped out of a science fiction novel, turning many things from our science fiction novels into reality,” Liu remarked during the panel discussion.

    Sci-fi writers Chao Xia, Zhu Yuqing and Liu Cixin (left to right) participated on a panel to discuss the theme of “Sci-Fi Literature Empowering New Quality Productive Forces” in Yangquan, Shanxi province, on Oct. 13, 2024. The others who participated in the panel discussion were Li Xiaodong (center), the event host and an official with the China Writers Association; Yu Haichun, a research fellow of the Management Committee of Shijingshan Park in Zhongguancun Science Park; and Wang Weiying, head of the sci-fi division at China Science and Technology Press and director general of the Beijing Yuanyu Science Fiction and Future Technology Research Institute. [Photo courtesy of Yangquan Federation of Literary and Art Circles]

    “The technology for autonomous driving has already reached a very mature stage, but the obstacles to its development may lie not in the technology itself, but at the societal level,” Liu stated. He also acknowledged that, though he has not yet taken a ride in a self-driving vehicle, he frequently sees autonomous delivery vehicles navigating the Yangquan’s streets. Yangquan was the first prefecture-level city in China to fully embrace autonomous driving with autonomous taxis, buses and delivery vehicles. 

    Liu added: “When a new technology replaces an old one, some fluctuations occur. For example, the Luddite Movement of the 19th century involved large-scale worker-led machine destruction. We may now be facing such a historical juncture again, and if the right choices are made, we could usher in a brand-new era of new quality productive forces.”

    MIL OSI China News

  • MIL-OSI China: Chinese medical peacekeepers to Lebanon complete emergency defense drill 2024-10-14 20:27:33 Recently, the 22nd Chinese Peacekeeping Level-1+ Hospital to the UNIFIL successfully completed the “Blue Porcupine 2024” emergency defense drill organized by the UNIFIL Sector East amid the ongoing conflicts in the mission area.

    Source: People’s Republic of China – Ministry of National Defense

      By Zeng Dele, Cheng Lu and Zhuang Xiaohao

      BEIRUT, Oct. 15 — Recently, the 22nd Chinese Peacekeeping Level-1+ Hospital to the United Nations Interim Force in Lebanon (UNIFIL) successfully completed the “Blue Porcupine 2024” emergency defense drill organized by the UNIFIL Sector East amid the ongoing conflicts in the mission area. The drill has examined and enhanced the emergency response capabilities of the Chinese peacekeeping medical contingent.

      After the drill began, the Chinese peacekeepers immediately put on their protective gear. The emergency combat team quickly collected weapons and ammunition, occupied a favorable position and stayed alert to the surrounding situation, while the rest of the personnel went to the designated bunker on standby.

      During the drill, the Chinese peacekeepers conducted medical treatment training. They provided emergency treatment for the wounded and then transferred them to the resuscitation room for fluid replacement and anti-shock therapy while monitoring the vital signs all the time.

      The UNIFIL Sector East sent special inspectors to verify the personnel composition, weapons and equipment, medical supplies and daily necessities in the two bunkers of the Chinese peacekeeping medical contingent. The inspectors used the communication facilities in the bunker to communicate with the UNIFIL Sector East and reported that the Chinese peacekeeping contingent fully met the exercise standards.

      In addition, the Chinese medical contingent conducted combat rescue knowledge and skills training for peacekeeping detachments and military observers from multiple countries, with a focus on several key subjects such as battlefield triage, spinal injury rescue, bleeding control, bandaging and fixation, airway management and cardiopulmonary resuscitation, in a bid to help friendly peacekeeping forces and military observers master the basic operational methods of self-rescue and mutual rescue.

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    MIL OSI China News

  • MIL-OSI China: 136th Canton Fair kicks off

    Source: China State Council Information Office

    The 136th China Import and Export Fair, popularly known as the Canton Fair, kicked off in Guangzhou, the capital of south China’s Guangdong Province, on Tuesday.

    Themed “Serving high-quality development, promoting high-level opening-up,” this edition of the fair features more than 30,000 exhibitors showcasing 1.15 million new products.

    Many new companies, products, technologies and business models are making their debut, attracting 147,000 overseas buyers who have pre-registered for the fair.

    According to Chu Shijia, head of the China Foreign Trade Center, over 8,000 exhibitors have been recognized as national high-tech enterprises, “little giants” specializing in niche industries, or manufacturing champions, representing a more than 40 percent increase from the previous edition of the Canton Fair.

    Around 390,000 digital and smart products will be showcased, a 300 percent surge compared to the 135th Canton Fair, while the number of green and low-carbon products will rise by 130 percent to 1.04 million.

    A survey conducted by the organizers ahead of the fair indicated that 94 percent of exhibitors would bring in new products, and 64.8 percent would showcase products with independent intellectual property rights. More than 1 million new items and products with intellectual property rights are on display, alongside a range of humanoid robots, smart devices and unmanned products making their debut at the fair.

    The online platform for the 136th Canton Fair has been further optimized, featuring a virtual digital host and a dedicated Canton Fair app.

    The scale of the online exhibition has expanded significantly, with around 48,000 companies uploading approximately 3.75 million products to the platform, an increase of 60 percent and 50 percent, respectively, compared to the previous fair, both of which are historic highs.

    As of Monday, buyers from 209 countries and regions had pre-registered for the event. Additionally, 241 of the world’s top 250 retailers and leading multinational corporations are participating in the fair.

    “Based on indicators such as pre-registrations, hotel bookings and flight reservations, improved attendance of overseas buyers at the 136th Canton Fair is expected,” Chu said.

    The fair highlights the high-quality development of Chinese products and brands, and China is confident in its ability to offer more and better products — both “made in China” and “created in China” — to the world, Chu noted.

    The fair will be held in three phases between Oct. 15 and Nov. 4 and is set to include 55 exhibition areas covering 1.55 million square meters. The first phase, running from Oct. 15 to 19, will introduce new topics such as hydrogen energy and feature a dedicated area for energy storage products, attracting over 110 new energy companies.

    Launched in 1957 and held twice yearly, the Canton Fair is considered a major gauge of China’s foreign trade.

    MIL OSI China News

  • MIL-OSI United Kingdom: This is the way we brush our teeth…

    Source: Mayor of London

    A quarter (25.8 per cent) of 5-year-olds in London have tooth decay.1

    Since 2012, local authorities have been responsible for improving health in local areas, including oral health.
    In 2014, Public Health England stated that “local authorities are statutorily required to provide or commission oral health promotion programmes to improve the health of the local population, to an extent that they consider appropriate in their areas”.

    London Boroughs commission a range of oral health prevention programmes for both adults and children, including supervised toothbrushing in schools. The London Borough of Brent commissions Whittington Health NHS Trust to deliver these programmes, including the following initiatives: 

    • Supporting a number of education (early years & school) settings to promote good oral health such as the supervised tooth-brushing programme. 
    • Providing dental health support to families with children under 5 years who are at high risk of developing tooth decay (dental caries). 
    • Family Wellbeing Centres, who support parents from the moment they know they’re expecting, through pregnancy and birth, until the child is 18 years old.

    Tomorrow, Members of the London Assembly Health Committee will visit Brentfield Primary School, where they will observe supervised toothbrushing, an initiative to reduce tooth decay in young children. 

    The meeting will include teachers, Brent Public Health and the NHS. The visit will form part of the Committee’s investigation into Dentistry in London.

    MEDIA ARE INVITED TO ATTEND THIS FILMING/PHOTO OPPORTUNITY BY PRIOR ARRANGEMENT

    Location: Brentfield Primary School, NW10 0SL 

    Date:  Wednesday 16 October 2024

    Time: 12-1pm  

    Interviewees will include:

    • Krupesh Hirani AM, Chair of the Health Committee
    • Emma Best AM, Deputy Chairman of the Health Committee
    • Somebi Anwunah, Principal Public Health Strategist · Brent Council 
    • Erinna Proudfoot, Oral health promoter, Whittington Health, NHS Trust 
    • Debbie Edwards, Class Teacher and EYFS Leader 

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Research programme to ensure UK economy uses AI to grow safely

    Source: United Kingdom – Executive Government & Departments

    Researchers to be supported in boosting defences against societal risks such as deepfakes and cyber-attacks.

    • Support unveiled for researchers to boost defences against societal risks including deepfakes and cyber-attacks 
    • First phase of AI Safety Institute scheme to provide researchers with up to £200,000 in grants launches 
    • Programme dedicated to ‘systemic AI safety’ to boost public trust as technology is rolled out across the economy

    Researchers focused on boosting society’s resilience against AI risks such as deepfakes, misinformation, and cyber-attacks, can now access government grants to drive forward their work which will help ensure the safety of AI, as the UK taps into its potential to spark economic growth and improvements to public services.

    The scheme launched today (Tuesday 15th October), in partnership with the Engineering and Physical Sciences Research Council (EPSRC) and Innovate UK, part of UK Research and Innovation (UKRI), is focused on how society can be protected from the potential risks of AI. It will also support research to tackle the threat of AI systems failing unexpectedly, for example in the financial sector. 

    Tackling these risks head on will boost public confidence in the technology which holds enormous potential to spark long-term growth, while keeping the UK at the heart of research into responsible and trustworthy AI development. Ensuring public confidence in AI is central to the government’s plans for seizing its potential, as the UK harnesses the technology to drive up productivity and deliver public services which are fit for the future.

    To ensure the UK can continue to harness the enormous opportunities of AI, the government has also committed to introduce highly-targeted legislation for the handful of companies developing the most powerful AI models, ensuring a proportionate approach to regulation rather than new blanket rules on its use.

    Systemic AI safety is focused on the systems and infrastructure where AI is being deployed across different sectors. The programme launched today hopes to spark a broad range of research to identify the critical risks of frontier AI adoption in critical sectors like healthcare and energy services, identifying potential solutions which can then be transformed into long-term tools which tackle potential AI risks in these areas.

    Secretary of State for Science, Innovation, and Technology, Peter Kyle said: 

    My focus is on speeding up the adoption of AI across the country so that we can kickstart growth and improve public services. Central to that plan though is boosting public trust in the innovations which are already delivering real change.

    That’s where this grants programme comes in. By tapping into a wide range of expertise from industry to academia, we are supporting the research which will make sure that as we roll AI systems out across our economy, they can be safe and trustworthy at the point of delivery.

    Launching the formal opening of its Systemic Safety Grants Programme, the UK’s AI Safety Institute is looking to back around 20 projects with funding of up to £200,000 each over the course of its first phase, worth £4 million. In total the fund is worth £8.5 million, first announced at May’s AI Seoul Summit, with the additional cash to become available in due course as further phases are launched. 

    Applicants will be assessed on the potential issues their research could solve and what risks it addresses, having until 26th of November to submit their proposals. 

    AI Safety Institute Chair Ian Hogarth, said:

    This grants programme allows us to advance broader understanding on the emerging topic of systemic AI safety. It will focus on identifying and mitigating risks associated with AI deployment in specific sectors which could impact society, whether that’s in areas like deepfakes or the potential for AI systems to fail unexpectedly.

    By bringing together researcher from a wide range of disciplines and backgrounds into this process of contributing to a broader base of AI research, we’re building up empirical evidence of where AI models could pose risks so we can develop a rounded approach to AI safety for the global public good.

    The AI Safety Institute’s work in evaluating the safety of AI models is just one part of its mission, and the grants programme is set to deliver new research which will ultimately help societies across the world to better manage changes the technology could bring.  

    UK-based organisations are eligible to apply for grant funding via a dedicated website, and the programme’s opening phase will aim to deepen understandings over what challenges AI is likely to pose to society in the near future. Projects can also include international partners, boosting collaboration between developers and the AI research community while strengthening the shared global approach to the safe deployment and development of the technology.  

    Successful applicants will be confirmed in the end of January 2025, with the first round of grants then set to be awarded in February.

    Notes to editors

    Visit AI Safety Institute website for:

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

    Updates to this page

    Published 15 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Africa: South Africa’s unity government won’t dent poverty and inequality if it follows the same old policies – sociologist

    Source: The Conversation – Africa – By Roger Southall, Professor of Sociology, University of the Witwatersrand

    A recent poll by the Social Research Foundation, a think thank, found that 60% of South Africans thought the government of national unity was working well. It also reported that support for the unity government’s anchor political parties, the African National Congress (ANC) and the Democratic Alliance (DA), had risen since 29 May 2024 when elections were held.

    The poll results came out at the same time as the business press was reporting increased collaboration between business and government, fostered by the unity government. Corporations have reportedly pledged up to R250 million (about US$14.3 million to assist the state to address various logistics crises and help the National Prosecuting Authority prosecute corruption.

    Although we should be cautious about taking such news at face value, it is worth noting that the arrival of the unity government has been accompanied by other good news. For example:

    This adds up to new shoots which suggest a better harvest to come.


    Read more: South Africa has a huge gap between the rich and poor – 4 urgent reasons to tackle inequality


    Still, it is wise not to get too excited unless any upturn in the economy benefits the majority of South Africans. As Frans Cronje, director of the Social Research Foundation, has observed, while the unity government may be good for the middle class, there is no sign yet that it is addressing the needs of the poor and the people on the periphery of the economy.

    Unless its benefits become socially inclusive, it might well collapse. We need to take Cronje’s reservations seriously. Note, however, that although the unity government is a coalition, it is led by the African National Congress. And, while all parties agree that they need to put the economy back on track and promote growth, there is little evidence yet that the government is pursuing distinctively new policies.

    Beware complacency

    We are often told that “a rising tide lifts all boats”.

    But this claim owes more to ideology than careful analysis of economic data. In any case, it is a catchphrase which condones inequality. It suggests that as long as living standards increase for the poor, it does not matter if the wealthy gain even more. Indeed, one version is that the more the well-off benefit, the more likely they are to spend and invest their money – that is, to create wealth for others.

    Such complacency is dangerous. Apart from being contentious economically, it poses risks to both democracy and political stability. This is particularly the case in South Africa, which is widely recognised as the most unequal country in the world.

    • High rates of inequality erode social cohesion and trust in democracy. In the May general election, the lowest level of voter turnout since 1994 reflected a worrying decline in support for democracy: from 72% in 2011 to just 43% by 2023.

    • Extremes of inequality are unlikely to lead to the formation of governing coalitions committed to pursuing developmental strategies of benefit to all. As a result, populist parties that tout simplistic solutions may find it easier to win support. As suggested by the unheralded performance of Jacob Zuma’s umKhonto we Sizwe Party in the 2024 election, this is a particular danger in South Africa. Here, the poorer black majority possess potential political power in an economy which remains largely controlled and owned by a richer, white minority. The French economist Thomas Piketty in his latest blockbuster, Capital and Ideology, warns that in such situations, the dangers of a lurch towards authoritarianism are much increased.


    Read more: South Africa’s unity government could see a continuation of the ANC’s political dominance – and hurt the DA


    Little prospect of reduction of inequality

    The issue is not whether the unity government is blind to these dangers, but whether the policies it is pursuing are likely to make a dent in the staggering level of inequality.

    If investment and growth do occur, there will be good news down the line – possibly the creation of some 2 million jobs and more financial room for the government to fund social benefits for the poor. But it’s unlikely to have a marked effect on the level of inequality.

    First, the unity government is not promising any great change from policies that have been pursued since 1994, only more efficient implementation. Those policies have somewhat decreased racial disparities, notably by promoting a black middle class, but they have not reduced the overall level of inequality. Indeed, as Piketty shows, this has increased, not decreased, since 1994.

    Second, the unity government’s policies may continue to focus on the reduction of poverty. But this is unlikely to shift the proportions of income between the different classes. As Cronje has hinted, the new government is underpinned by a middle-class coalition, and for this to hang together, the middle class will want to reap its reward.


    Read more: South Africa’s new unity government must draw on the country’s greatest asset: its constitution


    Third, history doesn’t offer much hope. Former settler colonies stand out for their exceptionally high levels of inequality. In South Africa, white people always dominated the top earners before 1994. Now they have been joined by high-earning black people, many of them public officials. The top decile’s share of total earning has increased since the end of apartheid. Today it is close to 70%, compared with around 35% in Europe.

    Fourth, we live in an age which Piketty describes as “hyper-capitalism”, in which money and ultra-rich elites are highly mobile. This makes it hard for national governments to tax the rich more. They can leave, or threaten to withdraw their investments to earn higher returns elsewhere. South Africa has already been leaking its millionaires. The unity government will not want to scare any more of them away. So, it’s unlikely to adopt aggressive tax policies in the cause of narrowing inequality.

    The unity government may well promote high growth and if successful, may ameliorate poverty, but it seems unlikely that it will either attempt or succeed in reducing inequality. It may be good for the elite and middle class, but not necessarily for the health of democracy.

    – South Africa’s unity government won’t dent poverty and inequality if it follows the same old policies – sociologist
    https://theconversation.com/south-africas-unity-government-wont-dent-poverty-and-inequality-if-it-follows-the-same-old-policies-sociologist-240697

    MIL OSI Africa

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – CENTAMIN 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
    Centamin 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
    14 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
    Anglogold Ashanti 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: Ordinary NPV (JE00B5TT1872)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 59,725,834 5.14 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 59,725,834 * 5.14 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 41,005 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  
    Ordinary NPV (JE00B5TT1872) Purchase 2,030 1.5270 GBP  
    There was a Transfer In of 132,138 shares of Ordinary NPV  
       
    (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 15 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 Russia: Another residential building under the renovation program will appear in the Kuzminki district

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    A house under the renovation program will be built in the Kuzminki district in the southeast of the capital – an urban development plan for the land plot has already been issued for this purpose. The facility will appear as part of the block development. This was reported by Juliana Knyazhevskaya, Chairman of the Committee for Architecture and Urban Development of Moscow (Moskomarkhitektura).

    “A new house with a maximum area of 27.9 thousand square meters will appear on a plot of one hectare. The new building will be erected at the address: Marshal Chuikov Street, land plot 18a. New residents will receive apartments in a modern house within walking distance of public transport stops and a park complex,” commented Yuliana Knyazhevskaya.

    Earlier Sergei Sobyanin told, that since the beginning of the year, 23 new buildings have been commissioned in the capital and 44 residential complexes have been handed over for occupancy under the renovation program.

    Renovation program approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. In 2023 alone, 59 new buildings in the capital were handed over for settlement and the relocation of over 47 thousand people was ensured. Mayor of Moscow instructed to double the pace of implementation of the renovation program.

    Moscow is a leader among regions in terms of construction rates and volumes. Over the past five years, within the framework of the federal project “Housing” of the national project “Housing and Urban Environment”the volume of construction and commissioning of residential properties in the capital has doubled – from three million to five to seven million square meters per year. More information about the national projects being implemented in Moscow can be found find out here.

    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://vvv.mos.ru/nevs/item/145237073/

    MIL OSI Russia News

  • MIL-OSI Russia: Moscow Receives UN Certificate for Smart City Development Achievements

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Moscow has received a certificate as part of the UN international initiative United for Smart Sustainable Cities (U4SSC). This was reported by Natalia Sergunina, Deputy Mayor of Moscow.

    U4SSC is a global initiative aimed at improving the quality of urban governance. Its participants adhere to common approaches to measuring the main criteria for the development of megacities.

    “The capital has once again confirmed its status as one of the most technologically advanced megacities in the world. When assessing, experts took into account 90 indicators of innovative development. They cover several key areas – from the economy and the environment to society and culture,” said Natalia Sergunina.

    In particular, international experts noted the almost complete coverage of Moscow with high-speed Internet (98.9 percent). 97 percent of residents use it daily.

    High standards

    Moscow uses potentialall advanced technologies – blockchain, metaverses, the Internet of Things and other innovations. Every year, over 300 IT projects are implemented in the capital, with artificial intelligence already involved in more than 90 of them. Last year alone, 25 Moscow developments were awarded prestigious Russian and international awards in the field of digitalization.

    In 2021, the capital received certificates of compliance with two international standards at once: ISO 37 120 “Sustainable Communities – Indicators for Urban Services and Quality of Life” and ISO 37 122 “Sustainable Cities and Communities – Indicators for Smart Cities”.

    Moscow was awarded a Smart Cities Certificate among the first 10 megacities in the world. The assessment was conducted according to 80 criteria reflecting the effectiveness of the use of technological solutions in all industries.

    City as a service

    Today, the main capital portal mos.ru offers more than 420 electronic services and services, covering all areas – from health care and education to culture and housing and utilities. The number of daily requests from city residents exceeds two million, and the total number of registered users of the portal is 15.9 million, specified in Moscow Department of Information Technology.

    City residents used services and services on the mos.ru portal more than 425 million times in six months

    Thanks to digitalization, residents no longer need to provide more than a billion different certificates. With the help of online tools, Muscovites actively participate in the development of the capital: they make decisions and share proposals. On the platform “City of Ideas”More than 200 thousand initiatives in the fields of healthcare, transport, entrepreneurship and others have been collected. Hundreds of them are implemented annually.

    The project celebrated its 10th anniversary in the spring. “Active Citizen”, which united more than seven million people. With its help, city residents choose which parks, courtyards and squares need to be improved, how clinics and cultural institutions should work, vote for the names of streets and metro stations. More than four thousand decisions have already been implemented.

    Moscow Wins Smart City Grand Prix for Second Time — Sergei Sobyanin

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

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

    http://vvv.mos.ru/nevs/item/145234073/

    MIL OSI Russia News

  • MIL-OSI Russia: Electronics manufacturer becomes resident of Technopolis Moscow SEZ

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    The manufacturer of electronics, single-board computers and peripheral equipment has become a resident of the special economic zone (SEZ) “Technopolis Moscow”. The company “Digital Lab” will produce 21 thousand products annually, and private investments in the project have already amounted to about 200 million rubles. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “One of the effective measures to support the city is to localize the enterprise in the special economic zone of the capital. Today, this is the center for the development of advanced, the most high-tech industry in Moscow, which includes six sites. More than 220 enterprises operate here, of which over 110 have resident status and enjoy a number of tax preferences. Increasing the number of SEZ residents is under the special control of Sergei Sobyanin,” said Maxim Liksutov.

    The uniqueness of the products lies in the universal selection of components, which allows for the prompt reconfiguration of production from the release of components for unmanned aerial vehicles (UAVs) to the manufacture of individual parts. Using single-board computers installed on UAVs, it is possible to solve many problems, for example, use an intelligent decision-making system, analyze video from several video cameras, and classify objects.

    “High-tech products of the companies of the SEZ Technopolis Moscow are in significant demand due to their innovativeness, high level of localization and ability to effectively replace imported analogues. Today, residents receive a number of tax benefits, which allows them to significantly increase their investments in development. In particular, residents are exempt from paying taxes on property, land and transport for 10 years. In the industrial park Rudnevo, the new resident of the special economic zone will create more than 120 jobs. The total production area will exceed 1.2 thousand square meters,” added the Minister of the Moscow Government, head of the capital’s Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    Autonomy of production is achieved thanks to unique software and hardware complexes and production of final products. According to the company’s CEO Evgeny Konstantinov, all circuitry and device architecture was created by the company’s specialists, so it is possible to personalize connectors, memory cards and equipment dimensions in accordance with the customer’s preferences. The manufacturer produces not only hardware complexes, but also software ones that can be quickly integrated for specific needs. Another development is communication systems (modems) that allow UAVs to operate in the absence of a global navigation satellite system signal and to switch between frequencies if one of them is suppressed.

    In addition, there is a technical support line for users and a customer feedback form for product improvement.

    Today, the Rudnevo industrial park has created favorable conditions for the development of high-tech companies whose products contribute to the technological sovereignty of the country and ensure independence from imports, noted Gennady Degtyarev, General Director of the Technopolis Moscow SEZ. Residents receive tax and customs preferences. The total investment of enterprises in production at the Rudnevo site has already amounted to 20 billion rubles.

    SEZ Technopolis Moscow is a territory with a special legal status, where a preferential regime of entrepreneurial activity for investors operates. The area of six sites (Pechatniki, Alabushevo, Mikron, MIET, Angstrem, Rudnevo), where high-tech enterprises are located, exceeds 280 hectares. SEZ Technopolis Moscow has been a leader in international and national industry ratings for several years.

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

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

    http://vvv.mos.ru/nevs/item/145213073/

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Now EU wants to rule our pets

    Source: Traditional Unionist Voice – Northern Ireland

    Statement by TUV leader Jim Allister MP:

    “The Windsor Framework (Non-Commercial Movement of Pet Animals) Regulations 2024 were laid in Parliament this week.

    “This latest incarnation of the Protocol/Windsor Framework imposes new depths of EU control.

    “Under these regulations, it will only be possible for U.K. citizens to travel from one part of the U.K. (GB) to another (NI) with pets if they have:-

    • fitted their pet with a transponder (microchip) that complies with EU Reg 576/2013;
    • Applied to and joined NI Pet Travel Scheme and have secured a Pet Travel document (a pet passport) – the definition and details of which rests not with U.K. but with EU;
    • On travelling pets must be submitted to both documentary and full identity checks when joining and leaving the boat;
    • If any lack of compliance is found, then, they will be sent to an SPS facility.

    “It follows that persons moving from GB to NI with pets not only suffer the indignity of foreign controls, but they effectively lose their Common Travel Area rights, which are now trumped by EU diktat. And, if they then want to travel on to the Republic (also in the CTA) they are prohibited unless they submit to full SPS border checks – so much for the fiction that you couldn’t have SPS checks at the real border!

    “These regulations are an impossible and preposterous assertion of both EU rule in NI and destruction of basic constitutional rights of free movement within one’s own country.

    “Once more, this audacious power-grab was unaltered by the dud DUP/Donaldson Deal.

    “I will, of course, be opposing these impositions in Parliament.”

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Israel Defence Forces’ attacks on UNIFIL bases: statement by foreign ministers of France, Germany, Italy and the UK

    Source: United Kingdom – Executive Government & Departments 3

    Foreign ministers of France, Germany, Italy and the UK gave a joint statement on attacks by the Israel Defence Forces against UNIFIL bases.

    Joint statment:

    We, the Foreign Ministers of France, Germany, Italy and the United Kingdom express our deep concern in the wake of recent attacks by IDF on UNIFIL bases, which have left several peacekeepers injured. These attacks must stop immediately. We condemn all threats to UNIFIL’s security.

    Any deliberate attack against UNIFIL goes against international humanitarian law and United Nations Security Council Resolution 1701. The protection of peacekeepers is incumbent upon all parties to a conflict.

    We call on Israel and all parties to uphold their obligations to ensure the safety and security of UNIFIL personnel at all times and to allow UNIFIL to continue carrying out its mandate. We reaffirm the essential stabilizing role played by UNIFIL in southern Lebanon. We underscore the importance of the United Nations in resolving armed conflict and mitigating the humanitarian impact.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Gaston highlights lack of Unionist support to put the brakes on Irish signage

    Source: Traditional Unionist Voice – Northern Ireland

    Statement by TUV MLA Timothy Gaston:

    “Last week Infrastructure Minister John O’Dowd announced by way of a departmental press release that he was making road signs in parts of west Belfast. When this was reported in Friday’s News Letter the DUP’s Keith Buchanan, who sits on the infrastructure committee, was quoted as questioning the decision citing the cost given other budgetary pressures on the Department.

    “I am therefore both surprised and disappointed that having lodged a petition in the Assembly Business Office first thing on Monday morning on the issue, 24 hours later the only signature on it is my own. Should 30 MLAs sign the petition, Minister O’Dowd’s decision would be referred to the Executive where a cross community vote would have to be held on the matter.

    “No one can claim to be ignorant of the petition as my office emailed all Unionist MLAs yesterday morning in the following terms:

    Dear friend,

    I am writing to draw your attention to the fact that Timothy Gaston has this morning lodged a petition in the business office to refer the Minister for Infrastructure’s decision to install bi-lingual traffic and road markings in parts of Belfast. Significantly, not only was this matter not brought to the executive but due process appears to have gone completely out the window with no record of an equality impact assessment.

    We believe that this sets a dangerous precedent and that it is both significant and controversial. I note press commentary from other Unionists which suggests they agree. This email is being sent to all Unionist members to alert them to the fact that the petition is now in the business office. Timothy would obviously appreciate your support for it – and indeed his motion of No Confidence in the First Minister and Minister Murphy.

    Yours,
    Sammy Morrison, PA to Timothy Gaston MLA

    “It would appear that while some are happy to issue press releases on this issue, they are not prepared to use the mechanisms of the Assembly and Executive to actually do something of substance about it. That said, I would be delighted to be proved wrong by a queue of MLAs signing the petition today.”

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: BFAC appreciates Intellectual Property Department’s contribution to development of Hong Kong into regional intellectual property trading centre

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Business Facilitation Advisory Committee Secretariat:

         The Business Facilitation Advisory Committee held its 55th meeting today (October 15). At the meeting, members were briefed by the Intellectual Property Department (IPD) on various policy measures implemented by the Government to develop Hong Kong into a regional intellectual property (IP) trading centre, and the progress to date.

         The Government has been implementing a series of short-, medium- and long-term measures from three aspects, including strengthening the protection of IP rights, building capacity, and promoting widely, to promote the development of Hong Kong into a regional IP trading centre, thereby expanding Hong Kong’s competitive advantages in developing IP trading in the region. Key measures include, among others, implementing the “patent box” tax incentive and exploring further enhancement of the Copyright Ordinance (Cap. 528) regarding protection for development of artificial intelligence (AI) technology.

         The Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Ordinance 2024 was enacted in July 2024 to implement a “patent box” tax incentive in Hong Kong. The tax rate for qualifying profits derived from eligible IP (in particular patents) created through research and development activities is set at 5 per cent which is substantially lower than the prevailing normal profits tax rate of Hong Kong (i.e. 16.5 per cent). In addition, in view of the copyright issues arising from the rapid development of AI technology, the IPD, having launched its two-month public consultation (closed on September 8 this year), is considering stakeholders’ submissions in exploring further enhancement of the Copyright Ordinance regarding protection for such technology development to ensure that the local copyright regime remains robust and competitive.
     
         The Committee appreciated the IPD’s ongoing efforts in taking forward a series of policy measures to enable Hong Kong to seize the opportunity brought by IP trading and sustain its competitiveness, thereby ensuring the continuous high-quality development of the economy.
        
         The Committee also received the work reports of its three task forces:
     
    Wholesale and Retail Task Force (WRTF)
    ———————————————
     

    Hong Kong Customs briefed the WRTF on the scope of registration for dealers in precious metals and stones (DPMS) and the DPMS Registration System (DRS). Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise. To advocate the Government’s vision to develop Hong Kong into a smart city, Hong Kong Customs has rolled out the DRS to support the submission of registration applications and progress checking by the trade at their convenience. The DRS adopts the dynamic QR code authentication technology to enable the industry and consumers to instantly validate the registration of dealers. The WRTF thanked Hong Kong Customs for the briefing and welcomed the e-service introduced by Hong Kong Customs for the registration for DPMS.

    The Hong Kong Productivity Council (HKPC) briefed the WRTF on the Government Funding Scheme Management Centre (GFSMC) and the Biz Expands Easy (BEE) Platform. Since 2022, the GFSMC introduced the BEE 3-in-1 platform, which provides Hong Kong corporations with integrated information for 28 funding schemes. Registered users can log in to the platform to view and manage applications for multiple funding schemes under HKPC secretariat support. Furthermore, the GFSMC inaugurated the Biz Expands Easy Square in January 2024 to further enhance the accessibility of funding resources for Hong Kong corporations and start-ups, and also foster a network for applicants to share their successful experiences. The WRTF welcomed the BEE Platform, and considered the BEE Platform would enable users to further understand designated funding schemes and explore suitable funding schemes.

     
    Food Business and Related Services Task Force (FRSTF)
     

    The Food and Environmental Hygiene Department (FEHD) briefed and consulted the FRSTF on whether there is a need to retain composite food shop licences and extend the validity period of a full food business licence, in response to the views of the Legislative Council (LegCo)’s Public Accounts Committee. The FRSTF suggested that the FEHD retain the composite food shop licence with better promotion to the trades on the licence type. For the extension of the validity period of full licences, as trades would not have flexibility to choose a shorter licensing period and the annual compliance of fire safety requirements remains at the status quo, the FRSTF considered that the extension of the validity period of full licences may not facilitate the trades’ operations and there is no need for its implementation.

    The FEHD also briefed and consulted the FRSTF on enhanced measures against illegal operations of food businesses in response to the views of the LegCo’s Public Accounts Committee. To suppress the industry’s practice of operating food businesses before obtaining a provisional licence/full licence, in addition to taking enforcement actions, the FEHD suggested suspending the processing of licence applications and debarring the same applicant and his/her partners from applying for the same type of licence for the same premises for 12 months upon conviction of a relevant offence by the court. The FRSTF opined that the proposed administrative measures are too harsh and may undermine the catering business. The FRSTF suggested that the FEHD assist the trades to obtain a provisional licence more efficiently to address the issue of illegal operations.

     
    Task Force on Business Liaison Groups (BLGTF)
     

    The Inland Revenue Department (IRD) briefed the BLGTF on the initiative of the electronic filing (e-filing) of profits tax returns, including the need to take forward the mandatory e-filing, the benefits of e-filing, the enhanced e-filing services, the IRD’s support measures to taxpayers, and the timeline of the phased implementation of mandatory e-filing. The BLGTF welcomed the above initiatives and invited the IRD to brief and consult more small and medium-sized enterprises (SMEs) on the initiative. The IRD undertook to keep up the ongoing work of soliciting suggestions and opinions from SMEs through different channels.

     
         The Committee also expressed appreciation of the commitment and achievements of the bureaux and departments in continuously implementing business facilitation measures under the Be the Smart Regulator Programme to enhance their business licensing services.
           
         Papers for the Committee meeting are available at www.gov.hk/en/business/supportenterprises/bf/advisory/index.htm for public access.

    MIL OSI Asia Pacific News

  • MIL-OSI Banking: CBB 12 Month Treasury Bills Issue No. 121 Oversubscribed

    Source: Central Bank of Bahrain

    CBB 12 Month Treasury Bills Issue No. 121 Oversubscribed

    Published on 15 October 2024

    Manama, Bahrain –15th October 2024 – This week’s BD 100 million issue of Government Treasury Bills has been oversubscribed by 137%.

    The bills, carrying a maturity of 12 months, are issued by the CBB, on behalf of the Kingdom of Bahrain.

    The issue date of the bills is 17th October 2024, and the maturity date is 16th October 2025.

    The weighted average rate of interest is 5.42% compared to 5.37% of the previous issue on 19th September 2024

    The approximate average price for the issue was 94.808% with the lowest accepted price being 94.687%.

    This is issue No. 121 (ISIN BH00019OE454) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion.

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  • MIL-OSI Europe: Decree signed for Emilia-Romagna SLZ. President Meloni: “Significant development opportunities for local businesses”

    Source: Government of Italy (English)

    11 Ottobre 2024

    A Decree of the President of the Council of Ministers has been signed establishing the Emilia-Romagna ‘Simplified Logistics Zone’ (‘SLZ’), following the preliminary work carried out by the Minister for European Affairs, Southern Italy, Cohesion Policy and the NRRP, Raffaele Fitto. The new SLZ will enable companies in the Emilia-Romagna Region to access simplified administrative procedures and incentives regarding investments in the area, as well as a new tax credit.
     
    “By signing this decree – stated President Meloni – we are guaranteeing new development opportunities for businesses in the Emilia-Romagna Region, supporting strategic investments, as we also stated in our Government programme. With the establishment of the Emilia-Romagna SLZ, we are taking another concrete step to foster local growth and development, also ensuring that companies can access the SLZ tax credit, another measure this Government strongly advocated for”.

    The SLZ tax credit is in fact an important support measure for businesses operating in simplified logistics zones. This benefit is available to all enterprises, regardless of their legal form and accounting regime, that are already established or are about to be set up in an existing or forthcoming simplified logistics zone. 

    MIL OSI Europe News

  • MIL-OSI Australia: Plimsoll Address

    Source: Australian Government – Minister of Foreign Affairs

    Thank you to the Australian Institute for International Affairs and the University of Tasmania for inviting me to give this address, in honour of this great statesperson. 

    With a career that spanned the first four decades of independent Australian foreign policy, there are few who have made a contribution comparable to James Plimsoll – or Jim Plim as he was affectionately known.

    He first made his mark in the late 1940s supporting Foreign Minister Evatt during his presidency of the United Nations General Assembly – support that included ghost-writing Evatt’s book, The Task of Nations.

    He later became Secretary of the Department of External Affairs – which we now know as DFAT…

    He was appointed Ambassador in Washington, Tokyo, Brussels and Moscow… 

    High Commissioner in London and Delhi…

    And even Governor of this great state of Tasmania…

    Among all these lofty appointments, his biographer Jeremy Hearder reflected that the highlight of Plimsoll’s career was serving as Australia’s Ambassador and Permanent Representative to the UN Nations in New York, in the late 1950s and early 1960s.

    And we can understand why. He found himself at the centre of major international issues – and his diplomatic skill meant, in the words of a British colleague, that Plimsoll “exercised an influence on the UN quite disproportionate to Australia’s standing in the world.”

    This was partly because of what the then Secretary of External Affairs, Arthur Tange, described as Plimsoll’s “remarkable capacity… for talking to people in their own terms, freely encouraging them to explain their viewpoints and problems.”

    It is patent that Jim Plim understood deeply how Australia’s interests as a middle power are at stake in the multilateral system.

    Even with all the flaws with the international system, this remains the case today.

    Australia will always be better off in a world that operates by rules that all countries have a say in shaping.

    A world where Australia and other countries have the freedom to decide our own futures, without interference and intimidation.

    A world where we can find collective solutions to our toughest problems.

    Where no country dominates, and no country is dominated.

    I’ve recently returned from the UN General Assembly’s annual High-Level Week, where Australia progressed our most ambitious multilateral agenda in many years.

    I convened meetings of humanitarian leaders and ministers from influential countries to address a serious problem in the international system.

    That is, the growing risk that norms are being eroded in international humanitarian law – what we often refer to as the rules of war.

    We see this in the massive civilian toll in conflicts around the world, and we see this in the increasing numbers of aid workers being killed and kidnapped.

    In order to protect civilians, we must also protect aid workers who deliver the food, water and medicine civilians need to survive.

    Aid workers are the best of humanity. Their dedication to improving the lives of others should not cost them their own.

    Yet 2023 was the deadliest year on record for aid workers, and 2024 is on track to be even worse.

    This has been felt directly by Australians with the IDF’s strike against World Central Kitchen vehicles, which killed Australian Zomi Frankcom and her colleagues.

    This was not a one-off incident. Gaza is the most dangerous place on earth to be an aid worker. More than 300 aid workers have been killed since the start of the conflict.

    Together, the ministerial group I convened agreed to pursue a new Declaration for the Protection of Humanitarian Personnel.

    Work on the Declaration is now underway, with our officials consulting experts and other countries.

    All countries will be invited to join the Declaration, to demonstrate the unity of the international community’s commitment to protect aid workers – and to channel that commitment into action in Gaza, in Sudan, in Ukraine and in all current and future conflicts.

    This is exactly the kind of leadership Australia should be taking in the world.

    We are not a superpower. But we are respected, and at our best we have a reputation for bringing countries together to defend and promote the rules-based order that protects us all.

    From the days helping draft the UN Charter and the Universal Declaration of Human Rights, to Gareth Evans’ leadership on the Chemical Weapons Convention, to our more leading role in the Arms Trade Treaty.

    There’s no doubt that reputation waned through the negative globalist years of the previous government.

    But in driving this Declaration we are demonstrating that Australians are indeed constructive internationalists in the mould of the honouree of this address.

    This brings me back to the book Plimsoll ghostwrote for Evatt, which spelled out our shared responsibility to each other. I quote:

    “We should try to raise standards everywhere in order to practice the simple humanitarian doctrine which is the basis of all morality, namely that we should help our neighbour and relieve misery and suffering… [We] can hardly imagine … the common lot of so many of mankind – disease, low expectation of life, and unrelieved pain; flood, famine and epidemics… These wrongs cry out for redress, and can and must be righted by co-operative international effort.”

    A powerful articulation of the motivation for our humanitarian work.

    And tonight we build on that work. Tonight, I am releasing Australia’s new Humanitarian Policy.

    It is a policy that comprehends the serious problems of our times.

    A climate changing faster than our combined efforts to stop it.

    More people displaced – in fact, more than 117 million people forcibly displaced from their homes.

    More people needing humanitarian assistance – 302 million people this year, up by nearly 30 million in just the last two years.

    More conflict than any time since World War Two. Russia’s invasion of Ukraine. Sudan. Myanmar. And in the Middle East.

    The Albanese Government is committed to humanitarian action which saves lives, alleviates human suffering and builds resilient communities. 

    The Policy outlines the role Australia will play at a time when need is outstripping the world’s capacity to respond and disregard for international humanitarian law is increasing.

    It is a plan of action that is not just about meeting humanitarian needs. It is also about protecting the peace, stability and prosperity that we want for Australia, our region and the world.

    It is a plan that is accountable – to the Australian people, and to the partners and communities we seek to help.

    We will focus on three priorities.

    First, we will build readiness and preparedness, anticipating shocks before they occur and working with our partners to lessen their impact.

    As part of this priority, I announce Australia is providing $5 million to the new Asia-Pacific Regional Humanitarian Fund to pre-position for the next emergency.

    Second, we will respond to crises and disasters, delivering support that meets the needs of crisis-affected populations and protects the most vulnerable, both immediately and over the longer term.

    As part of that effort, I announce $9 million in humanitarian relief to respond to high levels of food insecurity in Yemen. This follows support I announced yesterday for Myanmar, as well as over $80 million in aid to support civilians who have been devastated by the conflicts in Gaza and Lebanon.

    And third, we will reinforce the international humanitarian system, working to take practical and actionable steps to strengthen adherence to international humanitarian law – just as we are doing with the Declaration.

    We act globally, but our focus remains our region. We offer genuine partnerships, based on respect, listening and learning from each other.

    And we are helping build self-reliance, so obviously in Australia’s interests and the region’s interests.

    Now, we know humanitarian assistance can lessen shocks and keep further instability, conflict and displacement at bay.

    But we all want a world where humanitarian assistance is needed far less often.

    This is just one reason why the Albanese Government is acting on climate change.

    We have enshrined our ambitious emissions reduction targets into legislation: 43 per cent by 2030 and net zero by 2050.

    We are transforming our economy.

    Within this decade, 82 per cent of Australia’s electricity generation will be renewable, up from around 32 per cent when we came to office.

    We are building new industries to accelerate our economic transition and to export reliable, renewable energy to the world.

    And we are acting internationally, to respond to our partners.

    By the end of 2025, Australia will offer Climate Resilient Debt Clauses in our sovereign loans.

    And the groundbreaking Australia-Tuvalu Falepili Union treaty entered into force on 28 August – a treaty which provides for both adaptation and mobility with dignity…

    And the first treaty anywhere in the world which provides legal protection for sovereignty in the face of sea level rise.

    But we can’t address climate change on our own, just as we can’t alone resolve all of the conflicts that are driving humanitarian crises.

    What we are doing is using our forthcoming term on the UN Peacebuilding Commission to reform the international peacebuilding and conflict prevention architecture.

    What we are doing is helping Ukraine end Russia’s illegal and immoral war on its own terms.

    Since coming to office, we have more than doubled the military contribution to Ukraine – and Australia is the largest non-NATO contributor to Ukraine’s fight.

    And what we are doing is supporting efforts for long-term peace in the Middle East.

    We have just marked the first anniversary of the October 7 attacks by Hamas.

    We condemn Hamas’ terrorism unequivocally. We call for the release of hostages immediately.

    On that day, Hamas killed 1,200 people: the largest loss of Jewish life on any single day since the Holocaust.

    October 7 is a day that recalls humanity’s darkest memories. 

    The six million European Jews killed in the Holocaust – following thousands of years of persecution and atrocities perpetrated against the Jewish people.

    This long shadow of antisemitism is the history that finally resolved the international community to create the State of Israel.

    At the same time, the world also promised a Palestinian state.

    77 years later, that Palestinian state still does not exist.

    Earlier this year, Australia voted in the General Assembly in support of Palestinian aspirations for full membership of the UN. 

    The international community now must work together to pave a path to lasting peace.

    Australia wants to engage on new ways to build momentum, including the role of the Security Council in setting a pathway for two-states, with a clear timeline for the international declaration of Palestinian statehood.

    The world knows we cannot keep hoping the parties will fix this themselves; nor can we allow any party to obstruct the prospect of peace.

    Because a two-state solution is the only hope of breaking the endless cycle of violence – the only hope to see a secure and prosperous future for both peoples.

    To strengthen the forces for peace across the region and undermine extremism.

    Any future Palestinian state must not be in a position to threaten Israel’s security, with no role for terrorists.

    Right now, the suffering across the region must end.

    In Israel’s response to the attacks, more than 40,000 Palestinians have been killed. More than 11,000 children.

    It is now more than ten months since Australia and 152 other countries voted for a ceasefire in Gaza.

    I repeat that call again. 

    Just as I repeat our call for a diplomatic solution, de-escalation and ceasefire in Lebanon. 

    We want to see civilians on both sides of the Lebanon-Israel border return to their homes and the implementation of UNSC Resolution 1701.

    Australia made our call alongside a number of countries – Canada, European Union, France, Germany, Italy, Japan, Saudi Arabia, United Arab Emirates, the United Kingdom, the United States and Qatar.

    Shortly thereafter, G7 leaders issued a statement in similar terms.

    Yet somehow Mr Dutton accused the Prime Minister of being at odds with our allies. 

    He said the Prime Minister should be condemned for calling for a ceasefire.

    Now Mr Dutton has realised it is he who is at odds with the international community– but he still can’t bring himself to back a ceasefire.

    I can’t recall a single time over the past year that Mr Dutton has called for the protection of civilians, or for the upholding of international law. 

    He never utters a word of concern for innocent Palestinians and Lebanese civilians.

    From the other side, the Greens political party are being just as absolutist.

    Australians are rightly distressed by the catastrophic conflict, and the distress is felt most acutely in our Jewish, Palestinian and Lebanese communities.

    The lived experiences and understandings of our different Australian communities are distinct.

    There is long, complex and disputed history – deeply felt, close to the heart of many.

    And there is a need to acknowledge the real trauma on all sides, to acknowledge each other’s humanity, and to come together – as peacemakers throughout history have done.

    It is incumbent on any Australian Government to play a responsible role in promoting peace – recognising we are not the crucial player in the Middle East, but we have a respected voice. 

    Leaders must govern for the whole country.

    Our country does not benefit from the conflict being reproduced here. 

    Australians are 26 million people, from more than 300 ancestries. We are home to the oldest continuing civilisation on the planet.

    There is vast power in that.

    The ability to see and understand every part of the world.

    Yet it’s also something we need to nurture. 

    If we allow people to divide our community, if we allow conflicts overseas to be reproduced here; if we shout each other down and insist on respective absolutes; the bedrock of our stability, our security and our prosperity is shaken.

    Nothing is more important for our future than ensuring that Australia remains a pluralist nation, welcoming different races, religions and views, united by respect for each other’s humanity and for each other’s right to live in peace.

    As I said, there is vast power in who we are. Our people are the most elemental aspect of our national power. 

    We must deploy that power at this time in our history…

    This time when we face the most dangerous set of circumstances since World War Two. 

    This time when we need to combine our economic power, our cultural power, our strategic, diplomatic and defence power – all to make Australia stronger and more influential in a more contested and challenging world.

    We are making Australia more economically resilient at home, with a Future Made in Australia setting us on a path to be a renewable energy superpower.

    We are making Australia more economically resilient in the world, with the Southeast Asia Economic Strategy to 2040 that harnesses the opportunities from living in the most competitive and fastest growing region in the world – and so we never are over-reliant on one market again.

    We are rebuilding our diplomatic relationships.

    We are doing the work that should have been done a decade ago to again make Australia a partner of choice in the Pacific.

    We don’t just go around picking fights and blowing up relationships.

    We are investing in our credibility as a partner to the region.

    It is by our actions that we have been able to restore trust among the Pacific family.

    And we are stabilising our own relations with China, so we navigate differences wisely.

    Our calm and consistent approach to the China relationship has seen progress on the removal of trade impediments for wine, barley, coal, cotton, timber logs, copper ores and concentrates; and now lobster – almost $20 billion worth of Australian exports back into China.

    We are increasing our collaboration with new partners and traditional partners; with Southeast Asia, with Japan, with India, and through our Quad partnership.

    We are investing in defence cooperation and our own military capabilities, including through AUKUS.

    And we are working together with our partners to uphold the rules and reform the institutions that we helped establish.

    All of these efforts are to shape the strategic calculus of the region, so no potential aggressor thinks the pursuit of conflict is worth the risk.

    This is how we advance the region we want. A region in balance. 

    Where countries, large and small, have the freedom to decide our own futures.

    These are just some of the ways in which the Albanese Government is driving Australia’s most ambitious international engagement in many years. 

    Being a partner to our region, and a leader in our values. 

    Always working toward a more peaceful, stable and prosperous world for all.

    Where sovereignty is respected and civilians are protected. 

    And I would say, furthering the legacy of creative diplomacy and determined statecraft practised by the great Jim Plim himself.

    Thank you.

    MIL OSI News

  • MIL-OSI Europe: Written question – Need to establish a European road transport agency – E-001981/2024

    Source: European Parliament

    Question for written answer  E-001981/2024
    to the Commission
    Rule 144
    Elena Kountoura (The Left)

    With road transport continuing to be the most common form of transport in the EU, road safety is a major social issue. In 2023, 20 400 people died in traffic accidents in the EU[1]. Deaths fell by just 1% in 2023, compared with the 6.1% needed annually across the EU in order to meet the European strategy’s target of zero deaths by 2050 (‘vision zero’), and the target of the EU road safety policy framework 2021-2030 to reduce deaths and serious injuries by 50% by the end of the decade.

    The European Parliament had called on the Commission to consider establishing a European road transport agency, along the lines of the agencies for rail, sea and air transport[2]. The creation of an agency will help to improve road safety by coordinating Member States’ efforts to achieve safe, sustainable and smart transport, through ensuring the implementation of the existing European body of regulation, better data collection, information, harmonisation and exchange of good practice. In September 2022, the European coordinator for road safety announced the start of work by the Commission on the establishment of the agency.

    In view of this:

    Does the Commission plan to immediately move forward with the creation of a European road transport agency, with the aim of managing road safety and coordination in order to reach vision zero by 2050?

    Submitted: 8.10.2024

    Last updated: 15 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – AI and energy consumption – E-001977/2024

    Source: European Parliament

    Question for written answer  E-001977/2024
    to the Commission
    Rule 144
    Nicolás González Casares (S&D)

    The EU is a pioneer in regulating artificial intelligence. However, although the legislation itself warns of the energy required by this technology, it does not include provisions on this aspect of its development. AI requires significant quantities of energy to function and the International Energy Agency estimates that the total demand from the use of artificial intelligence and data centres could double between 2022 and 2026. Big companies with investments in AI are trying to buy zero-emission electricity at above-market rates to obtain decarbonised electricity.

    In view of this:

    • 1.Has the Commission carried out any evaluations of the development of electricity use, and specifically of zero-emission electricity, in AI technology and its effects on climate goals, or of energy efficiency and of renewables in the EU?
    • 2.In light of the fact that this unchecked development could put the provision of zero-emission electricity to citizens and other industries at risk, what steps will the Commission take to tackle this issue?

    Submitted: 8.10.2024

    Last updated: 15 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Incidents on Ryanair planes – concerns for passenger safety – E-001973/2024

    Source: European Parliament

    Question for written answer  E-001973/2024
    to the Commission
    Rule 144
    Flavio Tosi (PPE), Salvatore De Meo (PPE), Giusi Princi (PPE), Massimiliano Salini (PPE), Caterina Chinnici (PPE), Letizia Moratti (PPE), Marco Falcone (PPE)

    Over the past week, Ryanair aircraft have been at the centre of two incidents: one in Brindisi and the other in Bergamo (Italy). In Brindisi, 184 passengers plus the cabin crew were evacuated and the airport was closed after an engine caught fire. Bergamo airport was shut for a few hours too, following a tyre blowout on a plane coming into land.

    Fortunately no one was injured in either case, but the two are only the latest in a series of episodes and technical issues to hit the Irish airline over the past year. Such incidents not only carry implications for the safety of passengers, crew and security staff, but instantly cause significant disruption to air traffic and operations at the airports involved.

    Given the alarming frequency of such failures, can the Commission say:

    • 1.What action will the European Union Aviation Safety Agency take to ensure that the maintenance plans for Ryanair’s aircraft are in order?
    • 2.For the sake of passenger safety, how will it make sure that the only aircraft used is that which is authorised and fully fit to fly?

    Submitted: 7.10.2024

    Last updated: 15 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Briefing – Confirmation hearings of the Commissioners-designate: Ekaterina Zaharieva – Start-ups, Research and Innovation – 15-10-2024

    Source: European Parliament

    Ekaterina Zaharieva is currently a member of the Bulgarian National Assembly, representing the Citizens for European Development of Bulgaria party (EPP). Having served in several Bulgarian governments, Zaharieva held the dual position of deputy prime minister for judicial reform and minister of foreign affairs from 2017 to 2021. Earlier, she served as minister of justice from 2015 to 2017, as deputy prime minister for economic policy and minister of regional developments and public works in 2013 and 2014, and as deputy minister of regional development and public works from 2009 to 2011. Between 2011 and 2015, she acted as head of cabinet and secretary general to the President of the Republic of Bulgaria. After earning a master’s degree in law from Paisii Hilendarski University in Plovdiv, Zaharieva had followed a career as a lawyer, and then as a civil servant from 2017 to 2021. Zaharieva was born in Pazardzhik, Bulgaria, in 1975. This is one of a set of briefings designed to give an overview of issues of interest relating to the portfolios of the Commissioners designate. All these briefings can be found at: https://epthinktank.eu/commissioner_hearings_2024.

    MIL OSI Europe News

  • MIL-OSI Europe: Briefing – Confirmation hearings of the Commissioners-designate: Maria Luís Albuquerque – Financial Services and the Savings and Investments Union – 15-10-2024

    Source: European Parliament

    Since 2022, Maria Luís Albuquerque has been independent non-executive director and a member of the Audit, Risk, and Nomination committees at Morgan Stanley and a member of the Operating Team at Horizon Equity Partners. She has been a member of the ISCTE University Institute of Lisbon’s Executive Education Advisory Board since 2019. Prior to her current roles, she was an independent non-executive director (chair of the Sustainability Committee) at the asset management firm Arrow Global Group (2016-2021), and a member of the High-level forum on the capital markets union, an expert group within the European Commission (2019-2020). In her political career, she has served as an elected member of the Municipal Assembly of Almada (2017-2021), a member of the Portuguese Parliament (2015-2019), minister of state and finance (2013-2015), and deputy minister for the treasury (2011-2013). Before that, she was director of the Department of Financial Management at the Portuguese Rail Infrastructure Company, and head of the Issuing and Markets Department at the Portuguese Debt and Treasury Management Agency. Born in 1967, Maria-Luís Albuquerque holds a master’s degree in financial and monetary economics from the Lisbon School of Financial and Monetary Economics (ISEG), and a degree in economics from the University of Lusíada. This is one of a set of briefings designed to give an overview of issues of interest relating to the portfolios of the Commissioners designate. All these briefings can be found at: https://epthinktank.eu/commissioner_hearings_2024.

    MIL OSI Europe News

  • MIL-OSI Europe: Briefing – Confirmation hearings of the Commissioners-designate: Dan Jørgensen – Energy and Housing – 15-10-2024

    Source: European Parliament

    Dan Jørgensen has most recently served as Danish Minister for Development Cooperation and Minister for Global Climate Policy. His role has been to oversee Denmark’s international development initiatives and global climate policies, including co-facilitating COP28 climate negotiations and co-chairing a number of working groups and alliances. Jørgensen is a member of the Social Democratic Party in Denmark, which is affiliated to the S&D group in the European Parliament. He has been a member of the Danish parliament since 2015 and previously served as Minister for Food, Agriculture and Fisheries, as well as Minister for Climate, Energy and Utilities, where he co-facilitated COP26 and COP27 negotiations and served as chair of the International Energy Agency’s Global Commission on People-Centred Clean Energy Transitions. Jørgensen was a Member of the European Parliament (2004-2013), where he served as vice-chair of the Committee on Environment, president of the Animal Welfare Intergroup and head of the Danish delegation of Social Democrats (2009-2013). Born in 1975, Jørgensen holds a master’s degree in political science from Aarhus University. His professional career also includes academic positions as adjunct professor and external lecturer. This is one of a set of briefings designed to give an overview of issues of interest relating to the portfolios of the Commissioners designate. All these briefings can be found at: https://epthinktank.eu/commissioner_hearings_2024.

    MIL OSI Europe News

  • MIL-OSI Europe: Briefing – Confirmation hearings of the Commissioners-designate: Dubravka Šuica – Mediterranean – 15-10-2024

    Source: European Parliament

    Dubravka Šuica has served as a Member of the European Commission and Vice-President for Demography and Democracy since 2019. She was also the co-chair of the Conference on the Future of Europe. From 2013 to 2019, Šuica was a Member of the European Parliament, where she focused on issues relating to the environment, public health and food safety, and foreign affairs. In 2019, she was a vice-chair of the European People’s Party Group in the European Parliament. As a member of the Croatian Democratic Union (HDZ), Šuica served three terms in the Croatian Parliament, from 2000 until 2011, also holding the position of vice-chair of the EU Integration Committee. From 2001 to 2009, Šuica served two terms as the first female mayor of Dubrovnik, her hometown. In 2006, she was honoured with the World Mayor Award. From 2004 to 2009, Šuica was a board member of the Union of the Association of Towns and Municipalities of Croatia. She later served as a councillor on the Dubrovnik-Neretva County Assembly. She also served as the president of the Croatian Delegation to the Congress of Local and Regional Authorities of the Council of Europe for a decade. Since 2012, she has chaired the HDZ Committee on Foreign Affairs and European Affairs, and has been the vice-president of EPP Women. Born in 1957, Šuica graduated in English and German language and literature. She started her career in education, first as a teacher and later as director of Dubrovnik High School.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – The Batteries Regulation – P-001565/2024(ASW)

    Source: European Parliament

    The powers conferred on the Commission to adopt delegated and implementing acts and the detailed requirements in terms of the subject, scope and timing of those acts are laid down in the Batteries Regulation[1].

    In adopting implementing acts the Commission is assisted by the committee established by Article 39 of Directive 2008/98/EC[2] (code C37000[3]). As regards delegated acts, the Commission consults the expert group on waste (code E03343[4]).

    Drafts of the delegated act on the calculation and verification of the carbon footprint of electric vehicle batteries and of the implementing act for the carbon footprint declaration were published for public feedback[5] on 30 April 2024.

    Following a dedicated meeting of the expert group and of the committee on 11 July 2024, the Commission is currently analysing the way forward in view of their adoption pursuant to Article 7 of the regulation .

    A draft delegated act on the calculation and verification of rates for recycling efficiency and recovery of materials pursuant to Article 71 of the regulation was published for public feedback[6] on 20 September 2024. This act is due to be adopted by February 2025.

    The Commission is also preparing implementing acts establishing rules for harmonised application of the labelling requirements for batteries pursuant to Articles 13 and 7, and the format for reporting on waste batteries pursuant to Article 76 of the regulation. These acts are due to be adopted by August 2025.

    Further work on secondary legislation, for example related to the collection of waste batteries and to recycled content in new batteries, is at early preparatory stages.

    The Commission will continue to carry out appropriate consultations during its preparatory work to implement the regulation.

    • [1] Regulation (EU) 2023/1542 of the European Parliament and of the Council of 12 July 2023 concerning batteries and waste batteries, amending Directive 2008/98/EC and Regulation (EU) 2019/1020 and repealing Directive 2006/66/EC, OJ L 191, 28.7.2023, p. 1-117.
    • [2] Directive 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on waste and repealing certain Directives, OJ L 312, 22.11.2008, p. 3-30.
    • [3] https://ec.europa.eu/transparency/comitology-register/screen/committees/C37000/consult
    • [4] https://ec.europa.eu/transparency/expert-groups-register/screen/expert-groups/consult?lang=en&groupID=3343
    • [5] https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13877-Batteries-for-electric-vehicles-carbon-footprint-methodology_en and https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13878-Batteries-format-of-carbon-footprint-declaration_en
    • [6] https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/14265-Calculation-and-verification-methodology-of-rates-for-recycling-efficiency-and-recovery-of-materials-of-waste-batteries_en
    Last updated: 15 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Water scarcity is causing serious problems in many parts of Greece – E-001474/2024(ASW)

    Source: European Parliament

    1. Neither the Water Framework Directive[1], the Drinking Water Directive[2] nor the Urban Waste Water Treatment Directive[3] establishes whether the management and supply of water should be done by the public administration or by private entities. Moreover, Article 12 of Directive 2014/23[4] explicitly excludes the water sector from its scope, leaving the organisation and governance of water services a matter of national competence.

    2. Greece is a major beneficiary of EU funding including for water infrastructures. Cohesion Policy[5] supports Greece with more than EUR 1 billion to modernise infrastructures including water transportation and wastewater treatment plants. For instance, in November 2022 Greece received EUR 21.1 million from the Cohesion Policy Funds[6] for upgrading its water infrastructures. Moreover, the European Regional Development Fund[7] and the European Agricultural Fund for Rural Development[8] also co-fund measures in Greece to improve regional water infrastructures. Importantly, the selection of projects under all these funds remains ultimately the responsibility of each Member State. Within Greece’s Recovery and Resilience Plan (RRP)[9], a water regulatory authority has been established with the aim to strengthen the institutional framework, supervise the water sector and ensure the sustainability of water services, while Greece benefits from RRP funding for water supply and water saving infrastructures. Greece also participates in several research and innovation projects of Horizon Europe[10] for water resilience like ‘Water Security for the Planet’[11], ‘PRIMA’[12] and ‘A Soil Deal for Europe’[13].

    • [1] Directive 2000/60/EC of the European Parliament and of the Council of 23 October 2000 establishing a framework for Community action in the field of water policy, OJ L 327, 22.12.2000, p. 1-73, as amended by Commission Directive 2014/101/EU of 30 October 2014, OJ L 311, 31.10.2014, p. 32-35.
    • [2] Directive (EU) 2020/2184 of the European Parliament and of the Council of 16 December 2020 on the quality of water intended for human consumption (recast), OJ L 435, 23.12.2020, p. 1-62.
    • [3] Council Directive 91/271/EEC of 21 May 1991 concerning urban waste-water treatment, OJ L 135, 30.5.1991, p. 40-52.
    • [4] Directive 2014/23/EU of the European Parliament and of the Council of 26 February 2014 on the award of concession contracts, OJ L 94, 28.3.2014, p. 1-64.
    • [5] https://ec.europa.eu/regional_policy/policy/what/investment-policy_en
    • [6] https://ec.europa.eu/regional_policy/funding/cohesion-fund_en
    • [7] https://ec.europa.eu/regional_policy/funding/erdf_en
    • [8] Regulation (EU) 2021/2115 of the European Parliament and of the Council of 2 December 2021 establishing rules on support for strategic plans to be drawn up by Member States under the common agricultural policy (CAP Strategic Plans) and financed by the European Agricultural Guarantee Fund (EAGF) and by the European Agricultural Fund for Rural Development (EAFRD) and repealing Regulations (EU) No 1305/2013 and (EU) No 1307/2013, OJ L 435/1, 6.12.2021.
    • [9] https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility/country-pages/greeces-recovery-and-resilience-plan_en
    • [10] https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe_en
    • [11] https://www.water4all-partnership.eu/
    • [12] https://prima-med.org/
    • [13] https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe/eu-missions-horizon-europe/soil-deal-europe_en
    Last updated: 15 October 2024

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Launch of the new Entry/Exit System (EES) – P-002000/2024

    Source: European Parliament

    Priority question for written answer  P-002000/2024
    to the Commission
    Rule 144
    Assita Kanko (ECR)

    On 3 September 2024, the Commissioner for Home Affairs announced that the new Entry/Exit System (EES) would finally launch on 10 November 2024.

    The EES Regulation[1] stipulates that the Commission should set an operation launch date only when eu-Lisa has declared the successful completion of a comprehensive test in cooperation with the Member States, and after the Member States have declared their readiness.

    As the launch of EES will challenge border infrastructure and is likely to increase traveller processing times, at least initially, any lack of preparedness may lead to long queues and disruption. While I fully agree that EES should be put in place as soon as possible to enhance security, everything should be done to avoid negatively affecting legitimate travellers who contribute to our economy and transport sector.

    I understand that three Member States have not yet declared their readiness. I also understand that the Commission is considering a partial launch of EES, which would be limited to the Member States that have declared their readiness.

    • 1.Can the Commission confirm that a full EU-wide launch will only happen when the required legal conditions are in place?
    • 2.Can the Commission explain what a partial launch would look like?
    • 3.Can the Commission confirm that contingency plans are in place should the launch of EES present difficulties, including excessive delays, for travellers?

    Submitted: 9.10.2024

    • [1] Regulation (EU) 2017/2226 of the European Parliament and of the Council of 30 November 2017 establishing an Entry/Exit System (EES) to register entry and exit data and refusal of entry data of third-country nationals crossing the external borders of the Member States and determining the conditions for access to the EES for law enforcement purposes, and amending the Convention implementing the Schengen Agreement and Regulations (EC) No 767/2008 and (EU) No 1077/2011 (OJ L 327, 9.12.2017, p. 20, ELI: http://data.europa.eu/eli/reg/2017/2226/oj).
    Last updated: 15 October 2024

    MIL OSI Europe News

  • MIL-OSI Russia: Mission Possible: How Doctors at the A.S. Puchkov Emergency and Urgent Medical Care Station Save Patients

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    A car with a red cross and flashing lights, a siren on, doctors and paramedics in blue uniforms – the ambulance service rushes to patients in the most urgent situations, when minutes count, and the price of delay can be human life. The fast and efficient work of one of the most important city services is ensured by its complex and well-thought-out structure.

    In anticipation of the 105th anniversary of Moscow’s ambulance service, which is celebrated on October 15, a mos.ru correspondent spoke with employees Stations of emergency and urgent medical care (SS and NMP) named after A.S. Puchkov and learned how the professionalism and dedication of doctors, combined with advanced technologies, save lives.

    Smart algorithms help process calls

    On October 15, 1919, a team of Moscow doctors went out for the first time to a patient with a broken leg. This date is considered the founding day of the Moscow ambulance service, which at that time occupied three rooms in the left wing of the Sheremetyevo Hospital (today, the N.V. Sklifosovsky Research Institute of Emergency Care. — Ed.). At that time, the service employed 15 doctors, 30 orderlies, and two service telephones.

    Today, more than a thousand medical teams make daily trips to the A.S. Puchkov Emergency and Urgent Medical Care Station. By dialing 103 or the 112 system, anyone can contact the single city dispatch center, where more than 60 dispatchers work around the clock. The response time to a call is three to four seconds – and after the request is processed, a team of doctors is sent to the patient.

    “Since 2017, we have been transitioning to a single center for receiving ambulance calls. Depending on the workload, for example, during peaks of seasonal illnesses, we connect additional operators to process calls faster. The system allows us to analyze calls using elements of artificial intelligence to determine whether an ambulance team is really needed, and if so, what kind of ambulance it is — emergency or urgent. This data is very helpful in our work,” says Georgy Vvedensky, Deputy Chief Physician of the A.S. Puchkov SS and NMP for medical affairs, Honored Healthcare Worker of Russia and laureate of the Moscow City Prize in Medicine.

    The digitalization of the Moscow ambulance service and its integration with the Unified Medical Information and Analytical System (EMIAS) have simplified the work of doctors and made it even faster. Now specialists can review the patient’s medical history on the way to him. To do this, they use digital tablets. After examining and providing first aid, doctors enter data into the system, which is available in the electronic medical record for both the attending physicians and the patients. If a person is hospitalized, information about his condition is transmitted to the hospital online. It is seen by specialists in the admissions department. Depending on the severity of the patient’s condition, doctors can begin preparing for his arrival in advance. This is especially important when every minute counts.

    Morozov Hospital Cardiac Surgeons Save Child with Complex Congenital Heart DefectMoscow doctors have developed a technique for diagnosing childhood strokes — Sobyanin

    A miracle happens every day

    All Moscow ambulances are equipped with modern equipment. The teams have a defibrillator-monitor with a capnometry function, a portable compressor inhaler, an electrocardiograph, an artificial lung ventilation device and many medical drugs. And a tablet connected to the information system allows you to quickly select a hospital with available operating rooms, angiographs, etc.

    “Over the past few years, the working conditions of doctors and the approach to providing emergency care to patients have changed. Modern equipment, ambulances and advanced information services have appeared. Recently opened flagship centers and admission departments of multidisciplinary hospitals operate according to the new standard of emergency care. If before the patient was taken to the hospital and there might not be any available equipment, now we know where it is. As a result, we manage to save many more lives,” continues Georgy Vvedensky.

    Georgy Vvedensky began his career as a nurse in his second year at the medical institute. Today, at the A.S. Puchkov Emergency and Urgent Medical Care Station, he oversees the most important issues – from organizational to modernization and digitalization projects.

    “Almost every day we see fantastic stories of rescue, when ambulance crews take very seriously ill patients, sometimes in a state of clinical death, and thanks to special equipment they take them to the operating room, where doctors bring them back to life. This can truly be compared to a miracle,” says Georgy Vvedensky.

    A Profession by Inheritance. A Surgeon at the V.M. Buyanov Hospital on How Work Becomes a CallingSobyanin: Grants from the city accelerate the development of new methods of treating patients

    Medical teams are advised by the best experts

    Specialists from the City Advisory Center for Anesthesiology and Resuscitation, a center for critical conditions founded in 2021, help doctors save patients. They provide online consultations to ambulance crews and doctors from the intensive care and intensive care units of hospitals, and also monitor patients in serious condition. One of the founders of the center is Petr Davydov, Deputy Chief Physician for Medical Affairs and Curator of the Resuscitation Service of the A.S. Puchkov SS and NMP.

    “The Critical Conditions Center was conceived as a platform where emergency or hospital doctors can seek advice in particularly severe cases. The most competent medical professionals from the capital’s hospitals and the best emergency medical workers work there. We monitor severe calls, and in such cases, the center’s specialists connect with medical teams, analyze extracts, tests, images, and research data that are uploaded to EMIAS, and then offer the necessary solutions,” says Petr Davydov.

    Anesthesiologist-resuscitator Petr Davydov has been working in emergency services for 15 years, he is one of the best specialists in his field. The mos.ru interviewee chose his profession in childhood, inspired by the example of his relatives.

    “I remember one of the first cases – I had just learned how to do tracheal intubation. A car hit a young man on Maryinsky Park Street, he received severe injuries. I arrived on call and used this method to provide artificial ventilation, administered painkillers and hemostatic drugs, and then we took him to the hospital. A few months later, a guy came to my work and said that he was the same patient whose life I saved. This made an indelible impression on me, a young doctor at the time. And subsequently, I could no longer work with less dedication than on that day,” recalls Pyotr Davydov.

    Sobyanin: Vascular centers received 8 angiographs with 3D modeling functionNeural networks helped the capital’s radiologists process 13 million studies

    A special medical team is rushing to help

    Petr Davydov is one of the leading specialists in Moscow working in the extracorporeal membrane oxygenation (ECMO) team. The professionals have unique equipment at their disposal, which can be compared to an artificial heart and lungs inside an ambulance. Advanced technologies help save the lives of patients whose blood circulation has stopped. Through cannulas inserted into the large vessels and vena cava of the patient, with the help of pumps, blood is pumped through an oxygenator, saturating it with oxygen.

    The first ECMO ambulance team appeared in Moscow in January 2022.

    “In recent years, the Moscow ambulance system has undergone dramatic changes. Thanks to digitalization, we can obtain information about the patient and pass it on to our colleagues in the hospital. The equipment inside the salons is regularly updated. In each district of Moscow, resuscitation teams work at ambulance substations. They are considered a medical special squad,” says Pyotr Davydov.

    As little time as possible should pass from the arrival of the resuscitation team to the patient’s hospitalization, during which time doctors need to have time to carry out intensive therapy and stabilize the person’s condition.

    “The main quality of an ambulance worker is the desire for constant development. A good doctor must analyze each case, improve their knowledge and identify inaccuracies in order to avoid them in the future. Stress resistance is formed together with professionalism, when you clearly know how you will act in a given situation,” the anesthesiologist-resuscitator believes.

    The plans at the A.S. Puchkov Emergency and Urgent Medical Care Station include the development of digital technologies. With their help, more and more results of examinations conducted by doctors and other patient data will be sent online to the critical care center and hospitals.

    Moscow has been digitalizing its healthcare system for over 10 years. The basis of this process is a single digital platform, which is being developed jointly by the Moscow Social Development Complex and the capital’s Department of Information TechnologyIt allows for personalized care of each patient at all stages – from diagnosis and treatment to follow-up.

    A large formation was removed from a patient’s heart at the N.V. Sklifosovsky Research Institute of Emergency CareRobotic surgeons, transplantation and research. How Botkin Hospital became a scientific and clinical centerSergei Sobyanin spoke about the development of high-tech medical care for children in Moscow

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

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

    http://vvv.mos.ru/nevs/item/145254073/

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Elafibranor approved to treat adults with a rare liver disease known as primary biliary cholangitis

    Source: United Kingdom – Executive Government & Departments

    The Medicines and Healthcare products Regulatory Agency (MHRA) has approved elafibranor (Iqirvo) to treat adult patients with a rare type of liver disease known as primary biliary cholangitis (PBC).

    PBC is a type of chronic liver disease in which the small bile ducts in the liver become injured and inflamed and are eventually destroyed. Where there are damaged bile ducts, bile builds up and causes liver damage. This disease can get gradually worse over time and without treatment may lead to liver failure.

    Elafibranor helps to improve how the liver works by reducing the amount of bile acids the liver produces and reducing the build-up of bile. It also acts by reducing inflammation of the liver.

    The recommended dose is one tablet, once a day, at about the same time each day for adult patients. Elafibranor may be given by itself or together with ursodeoxycholic acid (UDCA).

    Julian Beach, MHRA Interim Executive Director of Healthcare Quality and Access, said:

    Enabling safe access to high quality, safe and effective medicines is a key priority for us.

    We’re assured that the appropriate regulatory standards of safety, quality and effectiveness for the approval of this new formulation have been met.

    As with all products, we will keep its safety under close review. 

    The MHRA’s approval of the medicine is supported by evidence from a placebo-controlled main study involving 161 adults with PBC, the majority of whom had been taking UDCA for at least one year and continued taking it during the study (though some had stopped taking due to side effects).

    The measure of effectiveness was based on the number of patients whose blood levels of the substances Alkaline Phosphatase (ALP) and bilirubin (markers of liver damage) decreased to a level considered normal (for both ALP and bilirubin) and by at least 15% (for ALP) after 1 year of treatment.

    The study showed that elafibranor was more effective than placebo at reducing the blood levels of ALP and bilirubin. Overall, levels decreased by the required amount in around 51% (55 out of 108) of patients treated with elafibranor, compared with around 4% (2 out of 53) of patients on placebo.

    A full list of all side effects reported with this medicine is available in the patient information leaflet or from the product information published on the MHRA website

    If a patient experiences any side effects, they should talk to their doctor, pharmacist, or nurse. This includes any possible side effects not listed in the product information leaflets.

    Anyone who suspects they are having a side effect from this medicine is encouraged to talk to their doctor, pharmacist or nurse and report it directly to the MHRA’s Yellow Card scheme.

    ENDS

    Notes to editors  

    • The new marketing authorisation was granted for elafibranor (Iqirvo) on 04 October 2024 to Ipsen Ltd via National Procedure.
    • More information can be found in the Summary of Product Characteristics and Patient Information leaflets which will be published on the MHRA Products website within 7 days of approval.
    • The MHRA is an executive agency of the Department of Health and Social Care.
    • The Medicines and Healthcare products Regulatory Agency (MHRA) is responsible for regulating all medicines and medical devices in the UK by ensuring they work and are acceptably safe.  All our work is underpinned by robust and fact-based judgements to ensure that the benefits justify any risks.
    • For media enquiries, please contact the newscentre@mhra.gov.uk, or call on 020 3080 7651.

    Updates to this page

    MIL OSI United Kingdom

  • MIL-OSI Banking: Christopher J Waller: Thoughts on the economy and policy rules at the Federal Open Market Committee

    Source: Bank for International Settlements

    Thank you, Athanasios, and thank you for the opportunity to be part of this very worthy celebration.1 In support of the theme of this conference, I do have some thoughts on the Shadow Open Market Committee’s contributions to the policy debate, in particular its advocacy for policy rules. But before I get to that, I am going to exercise the keynote speaker’s freedom to talk about whatever I want. To that end, I want to take a few minutes to offer my views on the economic outlook and its implications for monetary policy. So let me start there, and afterward I will discuss the role that policy rules play in my decision making and in the deliberations of the Federal Open Market Committee (FOMC).

    In the three weeks or so since the most recent FOMC meeting, data we have received has been uneven, as it sometimes has been over the past year. I continue to judge that the U.S. economy is on a solid footing, with employment near the FOMC’s maximum employment objective and inflation in the vicinity of our target, even though the latest inflation data was disappointing.

    Real gross domestic product (GDP) grew at a 2.2 percent annual rate in the first half of 2024, and I expect it to grow a bit faster in the third quarter. The Blue Chip consensus of private sector forecasters predicts 2.3 percent, while the Atlanta Fed’s GDPNow model, based on up-to-the moment data, is predicting real growth of 3.2 percent.

    Earlier, there were concerns that GDP in the first half of this year was overstating the strength of the economy, since gross domestic income (GDI) was estimated to have grown a mere 1.3 percent in the first half of this year, suggesting a big downward revision to GDP was coming. But revisions received after our most recent FOMC meeting showed the opposite-GDI growth was revised up substantially to 3.2 percent. This change in turn led to an upward revision in the personal saving rate of about 2 percentage points in the second quarter, leaving it at 5.2 percent in June. This revision suggests that household resources for future consumption are actually in good shape, although data and anecdotal evidence suggests lower-income groups are struggling. These revisions suggest that the economy is much stronger than previously thought, with little indication of a major slowdown in economic activity.

    That outlook is supported by consumer spending that has been and continues to be strong. Though the growth in personal consumption expenditures (PCE) has moderated since the second half of 2023, it has continued at an average pace of close to 2.5 percent so far this year. Also, my business contacts believe that there is considerable pent-up demand for durable goods, home improvements, and other big-ticket items, demand that built up due to high interest rates for credit cards and home equity loans. Now that rates have started to come down and are expected to come down more, consumers will be eager to make those purchases. For business spending, purchasing managers for manufacturers describe ongoing weakness in that sector, but those for the large majority of businesses outside of manufacturing continue to report a solid expansion of activity.

    Now let’s talk about the labor market. Only a couple months ago, it appeared that the labor market was cooling too quickly. Low numbers for job creation and a jump in the unemployment rate from 4.1 percent in June to 4.3 percent in July raised risks that the labor market was deteriorating. To remind you of how bad the markets viewed the July data, some Fed watchers were calling for an emergency FOMC meeting to discuss a rate cut. While the unemployment rate ticked down in August, job growth was once again well below expectations. Many were arguing that the labor market was on the verge of a serious deterioration and that the Fed was behind the curve even after a 50 basis point cut in the policy rate at the September FOMC meeting.

    Then we got the September employment report. Job creation in September was unexpectedly strong at 254,000 and the unemployment rate fell back down to 4.1 percent, which is where it was in June. The report also showed big upward revisions to payroll gains for the previous two months. Together, the message was loud and clear: While job creation has moderated and the unemployment rate has risen over the past year, the labor market remains quite healthy.

    Along with other new data on the labor market, the evidence is that labor supply and demand have come into balance. The number of job vacancies, a sign of strength in the labor market, has fallen gradually since the beginning of the year. The ratio of vacancies to unemployed is at 1.2, about the level in 2019, which was a pretty strong labor market. To put this number into perspective, recent research has shown that this ratio has been above 1 only three times since 1960.2 The quits rate, another sign of labor market strength, has fallen lower than it was in 2019, a decrease which partly reflects that the hiring rate has fallen as labor supply and demand have come into better balance.

    In sum, based on payrolls, the unemployment rate and job revisions, there has been a very gradual moderation in labor demand relative to supply, but not a deterioration. The stability of the labor market, as reflected in these two measures as well as the other metrics I mentioned, bolsters my confidence that we can achieve further progress toward the FOMC’s inflation goal while supporting a healthy labor market that adds jobs and boosts wages and living standards for workers.

    I will be looking for more evidence to support this outlook in the weeks and months to come. But, unfortunately, it won’t be easy to interpret the October jobs report to be released just before the next FOMC meeting. This report will most likely show a significant but temporary loss of jobs from the two recent hurricanes and the strike at Boeing. I expect these factors may reduce employment growth by more than 100,000 this month, and there may be a small effect on the unemployment rate, but I’m not sure it will be that visible. Since the jobs report will come during the usual blackout period for policymakers commenting on the economy, you won’t have any of us trying to put this low reading into perspective, though I hope others will.

    Looking ahead, I expect payroll gains to moderate from their current pace but continue at a solid rate. The unemployment rate may drift a bit higher but is likely to remain quite low in historical terms. While I believe the labor market is on a solid footing, I will continue to watch the full range of data for signs of weakness.

    Meanwhile, inflation, after showing considerable progress for several months toward the FOMC’s 2 percent target, likely moved up in September. The consumer price index grew 0.2 percent over the past month, 2.1 percent over the past three months, 1.6 percent over six months and 2.4 percent in the past year. Oil prices fell over most of the summer but then more recently have surged. Excluding energy and also food prices that likewise tend to be volatile, and just as it did in August, core CPI inflation printed at 0.3 percent in September and 3.3 percent over the past year.

    Private-sector forecasts are predicting that PCE inflation, the FOMC’s preferred measure, will also move up in September. Core PCE prices are expected to have risen around 0.25 percent last month. While not a welcome development, if the monthly core PCE inflation number comes in around this level, over the last 5 months it is still running very close to 2 percent on an annualized basis. We have made a lot of progress on inflation over the course of the last year and half, but that progress has clearly been uneven-at times it feels like being on a rollercoaster. Whether or not this month’s inflation reading is just noise or if it signals ongoing increases, is yet to be seen. I will be watching the data carefully to see how persistent this recent uptick is.

    The FOMC’s inflation goal is an average of 2 percent over the longer run and there are some good reasons to think that price increases will be modest going forward. I am hearing reports from firms that their pricing power seems to have waned as consumers have become more sensitive to price changes. There has also been a steady slowing in the growth of labor compensation. It is true that average hourly earnings growth in September ticked up to 4 percent over the past year. And though it might seem like wage increases of 4 percent a year would put upward pressure on inflation that is near 2 percent, that might not be true if one considers productivity, which has grown at an average annual rate of 2.9 percent for the past five quarters. Some of this strength was making up for productivity that shrank due to the pandemic, but the longer it continues-up 2.5 percent for the second quarter-the better productivity supports wage growth of 4 percent, or even higher, without driving up inflation. All that said, I will be watching all the data related to inflation closely.

    With the labor market in rough balance, employment near its maximum level, and inflation generally running close to our target over the past several months, I want to do what I can as a policymaker to keep the economy on this path. For me, the central question is how much and how fast to reduce the target for the federal funds rate, which I believe is currently set at a restrictive level. To help answer questions like this, I often look at various monetary policy rules to assess the appropriate setting of policy. Policy rules have long been of serious interest to the Shadow Open Market Committee. So before I turn to my views on the future path of policy, I thought I would talk about monetary policy rules versus discretion and begin with some background about the use of rules at the FOMC.

    For a brief overview of the history of the advent of rules at the Board, I have been directed to the second chapter of The Taylor Rule and the Transformation of Monetary Policy written by George Kahn, and I have also consulted the memories of longtime members of the Board staff.3 Rules came along in the 1990s as the Fed was moving away from monetary targeting, focusing more on interest-rate policy, and taking its first major steps toward increased transparency. There was immediate interest in Taylor-type rules among Fed staff, and even some contributions of research.4 There was a presentation to the FOMC on rules in 1995, and that was the same year that John Taylor’s Bay Area colleague, Janet Yellen, was apparently the first policymaker to mention the Taylor rule at an FOMC meeting. While FOMC decisions mimicked a Taylor rule much of the time under Chairman Alan Greenspan, he was famously an advocate of “constructive ambiguity” in communication, and he and other central bankers since have resisted the suggestion that decisions could be handed over to strict rules. Today, of course, a number of rules-based analyses are included in the material submitted to policymakers ahead of every FOMC meeting, and we publish the policy prescriptions of different rules as part of the Board’s semi-annual Monetary Policy Report. Rules have become part of the furniture in modern policymaking.

    As everyone here knows, but for the benefit of other listeners, Taylor rules relate the level of the policy interest rate to a limited number of other economic variables, most often including the deviation of inflation from a target value and a measure of resource use in the economy relative to some long-run trend.5 There are numerous forms of the Taylor rule, but they generally fall into two categories.

    The first of these, an inertial rule, has the property that the policy rate changes only slowly over time. I tend to think of it as an approach that captures the reaction function of a policymaker in a stable economy where the forces that would tend to change the economy and policy build over time. When change does occur, a gradual response may give policymakers time to assess the true state of the economy and the possible effects of their decision. One example I can use is the steadfastness of policymakers in the latter part of 2023, when inflation fell more rapidly than was widely expected, and again in early 2024, when it briefly escalated. The FOMC did not change course either time, an approach validated by inertial rules.

    A non-inertial rule, on the other hand, allows and in fact calls for relatively quick adjustments to policy. The guidance from these rules is more useful when there is a turning point in the economy, and policymakers need to stay ahead of events. One saw these non-inertial rules prescribe a sharper rise in the policy rate above the effective lower bound starting in 2021 as inflation began climbing above the FOMC’s 2 percent target. Non-inertial rules are also more useful in the face of major shocks to the economy such as the 2008 financial crisis and the start of the pandemic.

    The great promise of rules is that they provide a simple and reliable guide to policy, but what should one do when different rules recommend different policy actions given the same economic conditions? Right now, inertial rules tell us to move slowly in reducing policy rates toward a neutral stance that neither restricts nor stimulates the economy. On the other hand, non-inertial rules tell us to cut the policy rate more aggressively, subject to the caveat that one is certain of the values of all the ‘star’ variables: U*, Y* and r*. I think the answer is that while rules are valuable in helping analyze policy options, they have limitations. Among these are the limits of the data considered, which is typically narrower than the range of data that policymakers use to make decisions, and also the fact that simple policy rules do not take into account risk management, which is often a critical consideration in policy decisions. So, while policy rules serve as a good check on discretionary policy, there are times when discretion is needed. As a result, I prefer to think of them as “policy rules of thumb”.

    Turning to my view for the path for policy, let me discuss three scenarios that I have had in mind to manage the risks of upcoming decisions in the medium term.

    The first scenario is one where the overall strong economic developments that I have described today continue, with inflation nearing the FOMC’s target and the unemployment rate moving up only slightly. This scenario implies to me that we can proceed with moving policy toward a neutral stance at a deliberate pace. This path would be based on the judgment that the risks to both sides of our dual mandate are balanced. In this circumstance, our job is to keep inflation near 2 percent and not slow the economy unnecessarily.

    Another scenario, less likely in light of recent data, is that inflation falls materially below 2 percent for some time, and/or the labor market significantly deteriorates. The message here is that demand is falling, the FOMC may suddenly be behind the curve, and that message would argue for moving to neutral more quickly by front-loading cuts to the policy rate.

    The third scenario applies if inflation unexpectedly escalates either because of stronger-than-expected consumer demand or wage pressure, or because of some shock to supply that pushes up inflation. As we learned in the recovery from the pandemic recession, when demand was stronger and supply weaker than initially expected, such surprises do occur. In this circumstance, as long as the labor market isn’t deteriorating, we can pause rate cuts until progress resumes and uncertainty diminishes.

    Most recently, we have seen upward revisions to GDI, an increase in job vacancies, high GDP growth forecasts, a strong jobs report and a hotter than expected CPI report. This data is signaling that the economy may not be slowing as much as desired. While we do not want to overreact to this data or look through it, I view the totality of the data as saying monetary policy should proceed with more caution on the pace of rate cuts than was needed at the September meeting. I will be watching to see whether data, due out before our next meeting, on inflation, the labor market and economic activity confirms or undercuts my inclination to be more cautious about loosening monetary policy.

    Whatever happens in the near term, my baseline still calls for reducing the policy rate gradually over the next year. The median rate for FOMC participants at the end of 2025 is 3.4 percent, so most of my colleagues likewise expect to reduce policy over the next year. There is less certainty about the final destination. The median estimated longer-run level of the federal funds rate in the Committee’s Summary of Economic Projections (SEP) is 2.9 percent, but with quite a wide dispersion, ranging from 2.4 percent to 3.8 percent. While much attention is given to the size of cuts over the next meeting or two, I think the larger message of the SEP is that there is a considerable extent of policy restrictiveness to remove, and if the economy continues in its current sweet spot, this will happen gradually.

    Thank you again, for the opportunity to be part of today’s conference, and for allowing me to share some thoughts, relevant to monetary policy rules and my day job back in Washington. The Shadow Committee has elevated the public debate about monetary policy. May you continue to play that role for many years to come.


    i. Note: On October 14, 2024, a sentence on page 10 was corrected to say “restrictiveness”: “I think the larger message of the SEP is that there is a considerable extent of policy restrictiveness to remove, and if the economy continues in its current sweet spot, this will happen gradually.”

    MIL OSI Global Banks