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  • MIL-OSI Asia-Pac: StartmeupHK Festival 2024 showcases Hong Kong’s thriving start-up ecosystem (with photos)

    Source: Hong Kong Government special administrative region

         The annual StartmeupHK Festival is set to return to Hong Kong from October 21 to 25, 2024, following its previous successes. Curated by Invest Hong Kong (InvestHK) and themed “A Future Unlimited”, this year’s Festival will delve into contemporary topics such as AI, web3, GameFi, responsible tech, healthtech, greentech, sustainability, and more. As Asia’s premier start-up event, the festival anticipates participation from over 12 000 start-ups, investors, and technology enthusiasts from around the world.

         Featuring five main events and a series of community events, what sets this year’s Festival apart is its inclusion of captivating activities in multiple locations across Hong Kong and beyond, with speakers ranging from global business leaders to some of the world’s most innovative entrepreneurs. The Festival will also host a lineup of interactive activities like conferences, debates, exhibitions, pitching competitions, and additional networking opportunities. The Startups team of InvestHK has been conducting roadshows across Asia, Europe, and the Middle East to promote the Festival and position Hong Kong as an ideal location for start-ups to thrive in Asia.

         The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “I am thrilled to witness the triumphant return of this remarkable event, as it reaffirms Hong Kong’s leading position as a thriving hub for innovation and start-up success. Start-ups in Hong Kong enjoy a vibrant network of incubators and accelerators, a pool of experienced angels and venture capitalists, and a welcoming community of fellow entrepreneurs. This comprehensive ecosystem has fostered the growth of numerous unicorns and a rapidly expanding start-up landscape, covering diverse sectors such as fintech, retail tech, healthtech, and greentech.”
          
         She added, “The remarkable resilience and continued growth of Hong Kong’s start-up ecosystem are a testament to its attractiveness. Our 2023 Startup Survey revealed record-high figures, with 4 257 start-ups employing a total of 16 453 staff. This encouraging result can be attributed to favourable factors such as our simple tax system, low tax rate, accessibility to international and regional markets, accessibility to funding, business opportunities in Mainland China, and the free flow of information. Our strong entrepreneurial culture further reinforces Hong Kong’s position as a launchpad for start-ups seeking to access the Guangdong-Hong Kong-Macao Greater Bay Area and the broader Asian market.”
          
         The Head of Startups at InvestHK, Ms Jayne Chan, said, “This year’s StartmeupHK Festival is promised to be more impactful than ever, fostering stronger connections and collaborations among participants, enabling international investors and other key stakeholders to engage the city’s thriving start-up community. This year, we have curated the StartmeupHK Festival to explore the most influential and forward-thinking topics around innovation and technology, igniting the exchange of ideas and inspiring new initiatives that can unlock limitless possibilities for positive change.”
          
         She continued, “The Festival will include community events to enhance connections in the start-up ecosystem, such as a unique event where regional venture capital (VC) investors pitch to start-up founders, as well as fun activities such as a harbour run and Peak hike with members of the tech community. Additionally, the Start-ups team is conducting global roadshows in cities like London and Shanghai to showcase Hong Kong’s advantages, including access to talent, markets, and funding. These efforts will continue until the festival begins to promote Hong Kong and the Festival to a wider global audience.”
          
    Main events

         Day 1 (October 21) – As the opening event of the StartmeupHK Festival 2024, JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund will be held at the Asia Society Hong Kong Center. In addition to launching their JUMPSTARTER for One Earth global start-up competition to find companies committed to driving global positive change, the event will feature an AI theme with discussions on investments, trends and regional developments in this area.

         Day 2 (October 22) – Game On! 2024, hosted by MaGESpire, will celebrate the essence of gaming, art, music, and entertainment (GAME) industries at Soho House, Sheung Wan. If you are a hardcore gaming fan or art / music enthusiast or an entertainment aficionado keen to learn more about how new technologies are transforming this space, then you must join us!

         Day 3 (October 23) – LOUDER Connect, organised by LOUDER Global will be held at the Hong Kong Maritime Museum that will boasts a diverse network of global speakers, each brought together to collaborate and engage in meaningful conversations. The event will showcase a series of engaging Radical Debates, mentor-business matching, interactive workshops, and networking opportunities at the iconic Hong Kong Maritime Museum and Star Ferry.

         Day 4 (October 24) – Hosted by Brinc, the Asia Health Innovation Summit will be held at TOWER 535 in the vibrant district of Causeway Bay. This premier event will unite Asia’s health technology ecosystem, bringing together start-ups, professionals, investors and government to drive transformative innovation in healthcare. Key discussions include advancements in biotechnology, AI, MedTech, and wholistic well-being and more.

         Day 5 (October 25) – Organised by New World Development, 1.5°C Summit – The Defining Decade for Impact with Tech will be held at K11 Musea. This unique tech summit on climate change is dedicated to identifying and implementing the necessary actions to reduce emissions over the next decade. The event will convene leading experts, entrepreneurs, and stakeholders who are actively engaged in mitigating the effects of climate change. Participants will share their insights on how technology can revolutionise industries and foster a more sustainable future.

    Community events

         The StartmeupHK Festival 2024 will feature an engaging array of community events across Hong Kong, providing attendees with exceptional opportunities to discover innovative ideas and connect with a diverse network of people.

         October 20 – Led by Hong Kong’s experimental activity group, Rock & Run, join a group of like-minded individuals for the Victoria Peak Sunset Hike – a perfect way to end your day with stunning views!

         October 20 – With the support of Alibaba Entrepreneurs Fund, tap into the regional VC investors with rev Hong Kong, for insights into the propositions, and personalities, of your future potential backers at the Asia Society Hong Kong Center. Connect with top VCs, spanning Pre-Seed to Series B, as they pitch their funds in just five minutes, followed by your questions.

         October 21 and 24 – Start your day with an exclusive small-group breakfast designed for people leaders in a Head role across business and HR, to connect, collaborate, and inspire one another. People Leaders’ Breakfast Roundtable is a unique opportunity to exchange insights around strategies for leadership and people development for the talent landscape in Hong Kong, in a relaxed and closed-door setting. A limited 10-guest experience will be curated for each day.

         October 23 – In partnership with the Hong Kong British Chamber of Commerce and hosted by the Eaton Club, come check out the UK Tech Founders Showcase Event where leading tech founders from the UK will showcase their latest innovations and solutions. The evening features fireside chats with UK tech founders who will share their insights, providing a valuable opportunity to network with industry peers while enjoying drinks and light snacks.

         October 23 – To wrap up StartmeupHK Festival 2024, join Rock & Run for a Central Harbourfront Evening Run. It is going to be an amazing scenic run to see a different side of Hong Kong.

         October 24 – Join us for an evening of China PropTech Startup Expedition in partnership with UrbanLab and Hong Kong PropTech Association. This exclusive event will showcase Mainland China’s tech start-ups that have their sights set on global success through market development in Hong Kong and beyond.

    Road shows

         The Start-ups team has been going on road shows and will continue to promote Hong Kong and the Festival to a wider global audience.

         The London Startup Conference 2024 that was held on June 27 gathered start-up founders, investors, and industry experts for networking and workshops focused on business growth.

         Following this, IVS2024 KYOTO was held on July 5. Participants explored the intersection of Japan’s cultural heritage and modern technology, emphasising web2, web3, and AI advancements.

         On July 13, International Graduates & Returnees Entrepreneurship Sharing in Chengdu highlighted the entrepreneurial journeys of international students and returnees.

         The UrbanLab Global Expedition x Hong Kong 1.5°C Summit Briefing on August 16 witnessed discussions on the opportunities through Hong Kong, while the Georgian National Startup Competition on August 20 aimed to connect emerging market founders with investors.

         A series of Startup Nights in Beijing, Shenzhen, and Hangzhou throughout September also helped provide networking platforms for scaling start-ups in Asia.

         The Game On! 2024 – Dubai Edition event was held on September 13 to celebrate the gaming and entertainment industries, and The Latin Kaleidoscope event in Hong Kong on September 20 and 21 showcased Latin American culture and innovation.

         Last but not least, The Barcelona Startup Conference 2024 on October 1 will bring together local start-up leaders and investors for collaboration and growth opportunities.         

    MIL OSI Asia Pacific News –

  • MIL-OSI Translation: AMERICA/PERU – Protecting the right to learning of indigenous populations: lack of bilingual teachers and adequate infrastructure

    MIL OSI Translation. Region: Italy –

    Source: The Holy See in Italian

    Tuesday, September 24, 2024

    Iquitos (Agenzia Fides) – “We need authorities who are committed to defending the rights of girls, boys and adolescents of indigenous peoples, because they cannot continue to be set aside”. It is the voice of Mariluz Canaquiri, leader in Peru of the indigenous Amazonian Kukama Kukamiria, who speaks of the decline in education of indigenous peoples. “The authorities do not care about the education of indigenous children, there is no adequate infrastructure and there are no full-time bilingual teachers to teach them in our language,” emphasizes Canaquiri, who is also president of the Federation of Indigenous Women Kukama Kukamiria. Bilingual intercultural education (IBE) is a current educational policy in this South American country of 33 million inhabitants, with 55 recognized indigenous peoples, four Andean and 51 Amazonian. According to the results of the latest National Evaluation of Learning Outcomes (ENLA), published by the Ministry of Education, only 5.6% of fourth-grade primary school students (10 and 11 years old) of IBE institutions of the Amazonian population have achieved the expected results. “There is no bilingual intercultural education here,” said President Canaquiri. “How could they learn if our identity, our culture, our way of seeing the world are not valued in the school curriculum in any way, and in logistical conditions where the school building is an area covered with branches and trunks of trees with unbearable heat,” the leader stressed in a statement to an international non-governmental organization. Although the first policy in favor of the student population of indigenous peoples arose in 1972, more than half a century ago, it has always received little interest from the State, despite the IBE being part of their individual and collective human rights. “They hire teachers because they speak Quechua, Shipibo, Asháninka or the corresponding language, but when they go to school they do not apply the IBE. Sometimes they teach only in Spanish, other times they speak the children’s native language, but all the rest they read and write in Spanish,” an analyst reported. There are 24,000 schools throughout the country that follow the IBE, where most reinforce the students’ native language and teach them Spanish. The educational policy seeks to ensure that the indigenous school population is bilingual with oral and written skills, but according to studies carried out by local researchers, the country is going backwards. However, despite these precariousness, a small school in the peasant community of Accollya stands out positively, located in the municipality of Soccos, almost 3,400 meters above sea level, in the province of Huamanga, one of the 11 that make up Ayacucho. This is an Andean department that was hit hard by an internal armed conflict that Peru experienced between 1980 and 2000. Supported by an NGO, the school boasts a single teacher with 33 years of experience who has always been committed to bilingual intercultural education, following training and in-depth courses. “I work from Monday to Thursday in Spanish and on Fridays in Quechua, using the notebooks that the ministry sends us for each topic,” said the woman who is the only teacher of 10 pupils in first, second and third grade, aged between six and eleven. “The children’s response is very good, from first grade they acquire reading and writing skills, now it’s September and the youngest are already reading. It’s the advantage of teaching different classes because they motivate each other,” the teacher stressed. Furthermore, we must not forget the important contribution of the Catholic Church in the Amazon in the field of education and healthcare where it has often been a substitute for the State, arriving where it is not, even today. Hundreds of missionaries throughout history have been true promoters of respect for human dignity. Religious and lay people from dozens of countries have given their lives in the most remote places with the aim of making the Amazon a place of coexistence and respect for the dignity and rights of all, especially the most vulnerable, largely indigenous peoples. Among other initiatives in favor of learning and the formation of school libraries in these areas, it is worth highlighting the participation of the ‘yachac’, the wise men of the community, who hold intergenerational meetings encouraging the practice of reading among students and their families. The indigenous school population at the national level is estimated at 1.2 million, the vast majority are Quechua (700,000) and Aymara (300,000) from the Andean areas of the country, and the rest from Amazonian languages such as Asháninka, Shipibo Konibo, Awajún, among others. The Kukama Kukamiria people live mainly in the department of Loreto, the largest of the Peruvian Amazon. According to data from the Ministry of Culture, the population of the Kukama Kukamiria communities is estimated at 37,053 people. Among these, 1,185 declared that they speak the Kukama Kukamiria language, which corresponds to 0.02% of the total native languages at the national level. (AP) (Agenzia Fides 24/9/2024) Share:

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

    MIL Translation OSI

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

    Source: Government of Sweden

    Foreign ministers highlighted support to Ukraine 

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

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

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

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

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

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

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

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

    MIL OSI Europe News –

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – TI FLUID SYSTEMS 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    		 TI Fluid Systems 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    		 23 September 2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 N/a  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 1p ordinary (GB00BYQB9V88)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 5,863,084 1.17 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 5,863,084* 1.17 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 18,853 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  
             
       
    (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 24 September 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 www.thetakeoverpanel.org.uk.

    The MIL Network –

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

    MIL OSI Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

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

    Center of cultural life

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

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

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

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

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

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

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

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

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

    The first pleasure garden

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

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

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

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

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

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

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

    The famous Moscow salon

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

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

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

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

    The Tsar’s residence in the south of Moscow

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

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

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

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

    From falconry to concerts of Feodor Chaliapin

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

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

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

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

    Wonderful Gardens and Menagerie

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

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

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

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

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

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

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Join the Yo! Active revolution with more exciting activities on offer

    Source: City of Wolverhampton

    The City of Wolverhampton Council has teamed up with Wolves Foundation to run Yo! Active. The Foundation is providing up to 40 hours of free activities every week at the council’s WV Active leisure centres, community centres and other locations around the city, while free swimming, gym sessions and court bookings are also available.

    The wide ranging programme is open to residents of Wolverhampton aged up to 18, or 25 for care leavers or young adults with special educational needs or disabilities (SEND), and includes family fun, tots and SEND swim sessions at WV Active Bilston Bert Williams, and badminton, table tennis, short tennis and pickleball and tennis at WV Active Aldersley.

    Pickleball is also available to 8 to 12 year olds at The Way Youth Zone – participants will have access to the other facilities available within the centre too.

    Yo! Active Multisport, including football, badminton, tennis, basketball and others, is available at WV Active Aldersley while SEND multisport sessions for 5 to 18 year olds take place at WV Active Bilston-Bert Williams.

    Free scooter, skate and BMX ramp sessions are available to 6 to 16 year olds at Just Ramps Indoor Skatepark, Waterside Industrial Estate, while Kacey’s Performer Academy offers Yo! Active Dance sessions for children aged 6 plus at Our Lady and St Chads Catholic Academy, Old Fallings Lane.

    Youth gyms for young people aged 14 to 18 are available at WV Active Aldersley, Bilston-Bert Williams and Central, and for 8 to 16 year olds at the Bob Jones Community Hub, and Brazilian Jiu Jitsu for 4 to 16 year olds is on offer at Wolves BJJ, Cockshutt Lane. Meanwhile, young people are invited to get together and hire the astro turf at WV Active Aldersley for a 5 a side game of football, hockey practice, or for general outdoor activities.

    To find out more, please visit Activities with Yo! Active. All sessions are available on a first come, first served basis and are subject to availability. Under 8s must be accompanied by an adult.

    To take part, eligible children and young people need a free Yo! Active subscription and must first set up a free WV Active account. Accounts can be created either online at WV Active, by calling 01902 551010 or by visiting WV Active Aldersley, WV Active Bilston-Bert Williams or WV Active Central. Please note, WV Active accounts for under 16s must be created by a parent or guardian.

    Councillor Jasbir Jaspal, the council’s Cabinet Member for Adults and Wellbeing, said: “We’ve had a great response to Yo! Active, and it’s amazing that nearly 10,000 children and young people are signed up and enjoying the fantastic activities on offer.

    “I’d encourage parents and guardians to get their free Yo! Active subscription so that youngsters can book places and enjoy access to high quality and free activities all year round.”

    Meanwhile, the Yo! Wolves holiday programme will return for the October half term holidays, offering hundreds of free and low cost activities throughout the week. Find out more about what’s on where at Yo! Wolverhampton Young Opportunities shortly.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Samsung’s Biggest Festive Sale ‘Fab Grab Fest’ is back with Never-seen Before Deals & Offers on Smartphones, Digital Appliances, Smart Televisions, Monitors, Tablets & More

    Source: Samsung

     
    Samsung, India’s largest customer electronics brand, today announced its biggest festive sale ‘Fab Grab Fest’ starting 26th September, offering exciting deals and cashback on Galaxy smartphones, tablets, laptops, accessories, wearables, smart televisions, digital appliances and smart monitors. These never-before offers will be available on Samsung.com, Samsung Shop App and Samsung Exclusive Stores.
     
    Buy More Save More
    At heart of this festive sale will be Buy More Save More, where customers can avail an additional up to 5% discount when purchasing two or more products. This offer is only applicable on select smartphones, wearables, smart televisions and digital appliances while purchasing through Samsung.com or Samsung Shop App.
     
    As part of Buy More Save More, Consumers buying the Galaxy Z Fold6 can get Galaxy Buds FE at just ₹ 1249 in addition to all other applicable offers. Similarly, those buying the Galaxy Book4 can get a FHD Flat Monitor at just ₹ 1920. There are also a host of other products at no extra cost such as convection microwave when customer purchases the BESPOKE Family Hub Fridge & a Q-Symphony Soundbar when customers purchase the Neo QLED 8K Smart Television.
    Samsung’s commitment of delivering more value is what’s sets Fab Grab Fest apart. Beyond price discounts, bank cashback offers and exchange deals, ‘Buy More, Save More’ ensures that Samsung.com customers get a little extra for every purchase, whether it is smartphones, accessories, smart televisions or digital appliances.
     
    Fab Grab Fest will not only offer best prices but also unmatched value through Samsung’s trusted Direct-to Consumer channels. Alongside special deals, customers can be assured of the quality, authenticity, and product availability.
     
    During ‘Fab Grab Fest’, consumers can get up to 53% off on select models of the Galaxy Z series, Galaxy S series, and Galaxy A series smartphones. Select models of Galaxy Book4 series laptops will be available at a discount of up to 27% off, while specific models of Tab A9 and Tab S9 series, Buds3 Series, Galaxy Watch Series will have up to 74% off.
     
    The offers extend beyond smartphones with up to 43% off on Samsung Smart Televisions – Neo QLED 8K, Neo QLED, QLED, The Frame and  Crystal 4K UHD, The Freestyle projector. Additionally, customers purchasing select 55-inch and above models will be able to get their  hands on a free Samsung Smart Television or Soundbar. During this festive sale, Samsung will also extend a three- years Comprehensive Warranty for free on select 32″ and above Smart Televisions.
     
    Samsung’s monitors will be available at up to 67% off. Additionally, select smart and gaming monitors can fetch instant cart discount of up to ₹ 10000.
     
    The excitement doesn’t end here, Customers can get up to 39% off on a wide range of premium appliances such as Side by Side and French Door Refrigerators. They will also get a 20-year warranty on Digital Inverter Compressors. Front Load and Top Load washing machines of 8Kg and above capacity will have up to 28% off and 20 years warranty on Digital Inverter motor. There will also be an instant cart discount of up to ₹ 2000 on select 9Kg Fully Automatic Front Loading washing machines.
     
    Cashback on with ICICI, HDFC and SBI and other leading banks
     
    Consumers can enjoy up to 40% cashback (up to ₹ 15000) on select smartphones, tablets, wearables, and laptops when using debit and credit cards from ICICI, HDFC, and other leading banks during the Fab Grab Fest.
     
    Additionally, for purchases of select smart televisions and digital appliances customers can avail up to 22.5% cashback (up to ₹ 25000) when using debit or credit cards from ICICI, HDFC, SBI and other leading banks as part of the Fab Grab Fest offers.
    Fab Grab Fest Offers
    Products / Category
    Consumer Offer
    Highlight Models
    Smartphones
    Up to 53% off
    Galaxy Z Fold6, Galaxy Z Flip6, Galaxy S24 Ultra, Galaxy S24+, Galaxy S24, Galaxy S23 Ultra, Galaxy S23+, Galaxy S23, Galaxy S23 FE, Galaxy A55 5G, Galaxy A35 5G, Galaxy M35 5G, Galaxy M15 5G, Galaxy F55 5G
    Laptops
    Up to 27% off
    Galaxy Book4 Pro 360, Galaxy Book4 Pro, Galaxy Book4 360, Galaxy Book4
    Tablets, Accessories & Wearables
    Up to 74% off
    Galaxy Tab S10 Series, Galaxy Tab S9 Series, Galaxy Tab S9 FE+, Galaxy Tab S9 FE, Galaxy Tab A9+, Galaxy Tab A9, Galaxy Watch7 Series, Galaxy Watch Ultra, Galaxy Watch FE, Galaxy Buds3 Pro, Galaxy Buds3, Galaxy Buds FE, Galaxy Fit3
    TVs
    Up to 43% off
    Special Offer: Free Neo QLED 8K, Neo QLED, Crystal 4K UHD TVs and Soundbars*
    3 Years Comprehensive Warranty^
    Neo QLED 8K, QLED, The Frame, Crystal 4K UHD, The Freestyle
    *Select 55″ & above TVs
    ^Select 32″ and above TVs
    Refrigerators
    Up to 39% off
    20 Years warranty on Digital Inverter Compressor
    Get Instant Cart Discount of up to ₹ 5000**
    Starting EMI : ₹ 3990 /mo. for French Door Refrigerators & Side by Side RefrigeratorsSpecial Offer :  – Buy Side by Side or French Door Refrigerators and get one year extended warranty at ₹ 449~
    All Side by Side and French Door Refrigerators
    **Select Side by Side refrigerators
    ~ Select Side by Side & French Door refrigerators (RF87 / RF90)
    Washing Machines
    Up to 28% off
    20 years warranty on Digital Inverter motor
    Fully Automatic Front Loading: Starting EMI ₹ 1990
    Fully Automatic Top Loading: Starting EMI ₹ 990
    Get instant cart discount of up to ₹2000^^^
    All Front Load >= 8Kg | Top Load > =8Kg washing machines
    ^^^ Select 9Kg Fully Automatic Front Loading models
    Microwaves
    Up to 31% off
    10-year warranty on Ceramic Enamel Cavity
    Get Instant Cart Discount of up to ₹ 500~~
    All Microwaves
    ~~ Select 28L Convection microwave ovens
    Monitors
    Up to 67% off
    Get instant cart discount of up to ₹ 10000***
    All Monitors
    ***Select Smart and Gaming monitors
    Bank Cashback
    Up to 40% cashback with ICICI, HDFC,  and other leading bank debit and credit cards (Up to ₹ 15000) ##
    Up to 22.5% cashback with ICICI, HDFC, SBI and other leading bank cards (Up to ₹ 25000)^^
    ## Smartphones, tablets, wearables, and laptops.
    ^^ Select TVs & Digital Appliances
     

    MIL OSI Economics –

  • MIL-OSI China: US-proposed ban on Chinese software in vehicles prompts strong backlash

    Source: China State Council Information Office

    The U.S. Commerce Department on Monday proposed a ban on Chinese-developed software and hardware in connected and autonomous vehicles, provoking a strong backlash from economists and observers.

    According to the measure, “malicious access” to the Vehicle Connectivity System and the Automated Driving System could allow “adversaries” to access and collect the most sensitive data and remotely manipulate cars on American roads. Adversaries, in this context, are China and Russia.

    The Biden administration acknowledged that few Chinese or Russian vehicles are currently on U.S. roads but noted that it wanted to take “proactive” measures, highlighting national security concerns.

    “I think that the U.S. government may be projecting the kind of malware itself plans to install in some connected systems,” Jeffrey Sachs, an economics professor and director of the Center for Sustainable Development at Columbia University, told Xinhua. “There is absolutely no evidence that China is doing so.”

    Sachs also noted that another aim is protectionism, “to damage Chinese EV exports to the U.S. and Europe.”

    Gary Clyde Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics, told Xinhua that the proposed rule represents a giant step towards decoupling. “The United States is not yet at war with China, but it is well along the decoupling path,” he said.

    Hufbauer, a former official at the U.S. Treasury Department, noted that National Security Advisor Jake Sullivan previously promised that U.S. restrictions on direct commerce with China would be confined to limiting the flow of advanced technologies with “a small yard and a high fence”. “The small yard has since grown into a large pasture with no discernable fence,” said Hufbauer.

    Earlier bans on Chinese tech giant Huawei and current efforts to force TikTok either to be sold to a U.S. firm or face a ban follow the same logic.

    Hufbauer added that if the latest proposed rule charts the future path of U.S. import bans, with no consideration of the cost to the U.S. economy, then it is only a matter of time before de-risking becomes decoupling.

    The New York Times viewed combating real and perceived Chinese threats as one of the few issues that have won both Democratic and Republican support, though “many experts on China believe that the fear of Beijing has gone too far — and that it is also hurting American consumers.”

    U.S. automakers “risk falling behind” if they do not have access to the latest technology, said the American daily, depicting China as the world’s largest car market that dominates the production of electric car batteries.

    “Rather than banning China’s technology, the United States and China should take cooperative and diplomatic steps to ensure that neither party nor other countries behave in this manner,” said Sachs.

    MIL OSI China News –

  • MIL-OSI USA News: Background Press Call on President  Biden’s Engagements at  UNGA

    Source: The White House

    Via Teleconference

    5:33 P.M. EDT

    MODERATOR:  This is Michael Feldman with the NSC press team.  Just as a reminder for today’s call, it is on background and attributable to senior administration officials.  The call is also under embargo until 5:00 a.m. Eastern Standard Time tomorrow morning.

    For awareness and not for attribution, on today’s call we have [senior administration official] and [senior administration official].  I will now turn the call over to [senior administration official] to give some opening remarks.  Over to you.

    SENIOR ADMINISTRATION OFFICIAL:  Excellent.  Thank you.  And good evening, everybody.  We’re very excited for the President’s trip to this year’s U.N. General Assembly, the last one of his presidency. 

    So, at meetings at the U.N. this week, we’re going to get a lot of business done for the American people.  The President, the Secretary of State, other Cabinet officials, and even some members of Congress are here in New York to advocate for our country’s interests and values. 

    At the General Assembly, the President will do what he has done throughout his presidency: rally global action to tackle some of our world’s biggest challenges.  So, for example, he’ll be talking this week about the climate crisis and the environment.  We’ll be talking about the need to strengthen our systems for providing humanitarian assistance; to end brutal wars in Gaza, Ukraine, and Sudan; and we’ll also be talking about the implications of new technologies such as artificial intelligence. 

    When President Biden came to office nearly four years ago, he pledged to restore American leadership on the world stage.  And given that this is the President’s last General Assembly, it’s a chance for him to talk about how this approach has produced results, real achievements for the American people and for the world. 

    The President’s engagements this week reflect his vision for a world where countries come together to solve big problems.  This stands in contrast to some of our competitors, who have a more cynical and transactional worldview, one where countries interpret their self-interest very narrowly and don’t work together for the common good. 

    An overarching theme at this year’s General Assembly will be the need to reform and strengthen our global institutions, including the U.N., to make them more effective and inclusive.  And that’s been a big theme of the U.N. Secretary-General’s Summit for the Future, the marquee event at high-level week this year. 

    Last week, President Biden released a video message ahead of the summit.  I encourage you all watch it.  You can find it on the Web.  In the video, the President spoke about using this moment to reaffirm our commitment to the Charter of the United Nations, the Universal Declaration of Human Rights.  And he talked about pushing for a stronger, more effective United Nations and a reformed and expanded Security Council.  And he also talked about our efforts, investing billions in achieving the Sustainable Development Goals and building on the global consensus that we achieved last spring in the United Nations General Assembly on principles for the use of artificial intelligence. 

    We’re going into a General Assembly this year with the world facing many steep challenges, problems so big no one country can solve them on their own, but that’s why the President feels so strongly the world needs strong and effective global institutions, including an adapted United Nations.  This is his vision of countries working together.  It has been a theme of his presidency and an important part of his legacy. 

    Let me just briefly note the President’s key engagements, and then I’ll turn over to my colleague to discuss the major event that he’s hosting on the Global Coalition to Address Synthetic Drug Threats. 

    On Tuesday morning, tomorrow, he will deliver and address to the U.N. General Assembly.  It will have many of the themes that I’ve mentioned here and talk about — again, some of the achievements of his approach to the United Nations and global cooperation. 

    The President will also meet tomorrow with U.N. Secretary-General Guterres to talk about how the United States and the United Nations are working together to advance peace, safeguard human rights, and help countries develop. 

    On Tuesday afternoon, the President will host a summit of the Global Coalition to Address Synthetic Drug Threats, and I’ll turn over to my colleague in a second to talk about that. 

    The President is also giving a major address later that afternoon on the urgent need to combat climate change. 

    On Wednesday, the President will meet with the President of Vietnam, To Lam.  The President of Vietnam just came into office four months ago, and this meeting will be an important opportunity for the two leaders to talk about our shared interest in stability and prosperity in Southeast Asia. 

    The President will also attend, that afternoon, a meeting focused on Ukraine reconstruction with other world leaders. 

    And then on Wednesday evening, at the Met, the President will host world leaders and senior U.N. officials for a reception. 

    This is just a small slice of all the diplomacy and business that we’re doing here at the U.N. General Assembly.  There’ll be high-level meetings on the future of multilateral cooperation, sea level rise, antimicrobial resistance.  Really, every big, major challenge will be addressed here, and we’ll have senior U.S. representatives at all of these main events on issues such as the impact of emerging technology and specific meetings on global crises such as the difficult situation in Haiti, Sudan, Venezuela, Ukraine, Syria, and the Rohingya refugee crisis. 

    Other U.S.-hosted and U.S.-attended side events will focus on climate; scaling clean energy for Africa; a major core group meeting of countries committed to LGBTQ rights that was attended by the First Lady; and partnering for a lead-free future. 

    So, again, this is just a small slice of everything that is going on, plus the countless private sector and civil society events focusing on the great challenges of the 21st century. 

    So, as I mentioned, we’re going to use this high-level week, the President’s last U.N. General Assembly, to get as much done for the American people in the coming days.

    I’d like to now turn over to my colleague who will discuss the President’s summit on the Global Coalition to Address Synthetic Drug Threats.

    SENIOR ADMINISTRATION OFFICIAL:  Great.  Thanks so much, and thanks to all of you for joining this call. 

    I wanted to share with you the exciting news that, on Tuesday, President Biden will, as [senior administration official] already said, host a summit of the Global Coalition to Address Synthetic Drug Threats.  This is a coalition that President Biden launched in June 2023 to mobilize international action to tackle the synthetic drug crisis. 

    In just over one year, this global coalition has grown to include 158 countries and 15 international organizations working together to prevent the illicit manufacture and trafficking of synthetic drugs, to detect emerging drug threats, and to promote effective public health interventions. 

    With the summit as a motivating force, we now have 11 core coalition countries that will be joining the President tomorrow, and they will be announcing new initiatives that will continue to advance the work of the coalition, including work to prevent, detect, and disrupt the supply chain of synthetic drugs. 

    It’s important to emphasize that these international efforts complement intensive work that’s already been done and is being done domestically, including an increased focus on coordinated disruption of drug trafficking networks and concerted efforts to make the opioid overdose reversal medication, naloxone, widely available over the counter. 

    These are just some of a wide array of actions that the Biden-Harris administration has taken to tackle the synthetic drug threats. 

    And as a result of these efforts, we’re starting to see the largest drop in overdose deaths in recorded history.  When President Biden and Vice President Harris came into office, the number of drug overdose deaths was increasing by more than 30 percent year over year.  Now we have the latest provisional data released from the Centers for Disease Control, National Center for Health Statistics, showing an unprecedented decline in overdose deaths of roughly 10 percent from April 2023 to April 2024.

    But there’s a lot more to be done, and the Global Coalition’s work recognizes that we need a global solution to a global problem. 

    We are thrilled that we have so many countries coming together tomorrow to celebrate the work of the coalition, and we also will be announcing a new pledge that all of the core coalition members will be announcing — will be signing on to tomorrow, and we will be working over the coming months to ensure that all coalition members sign on to this pledge. 

    And we truly think that this is a reflection of President Biden’s commitment to work both domestically and globally on the most important challenges that we face, recognizing that we need both domestic action and global action working together. 

    And with that, I’ll turn it back to [senior administration official].

    SENIOR ADMINISTRATION OFFICIAL:  Thanks, Michael.  I’ll turn it back to you. 

    MODERATOR:  All right.  Thank you, [senior administration officials].  All right, with that, we will take some questions. 

    The first question is going to go to Zeke Miller.  You should be able to unmute yourself. 

    Q    Thanks so much for doing this.  You mentioned this is the President’s last U.N. of his presidency.  He’s going to deliver remarks to the General Assembly tomorrow.  Can you give us a preview, potentially, of what his message will be?  And will it be different from his prior remarks, in the sense — you know, obviously, world events have changed, but, you know, with an eye towards his legacy?  Or is there some message he’s trying to give on the world stage before he leaves office in January?  Thank you.

    SENIOR ADMINISTRATION OFFICIAL:  You know, the themes I — thanks, Zeke.  The themes I previewed at the beginning will be really central to the President.  So, again, he came into office four years ago with a vision of America returning to the world stage, having a new way of interacting with other countries, bringing countries together to solve some of these big challenges.  This will be a good opportunity for him to look at the results that have been achieved. 

    We live in a world with many problems, with many divisions, but we have a story to tell about what we’ve done to rally the world to defend Ukraine’s sovereignty, uphold principles of the U.N. Charter; what we’ve done to manage responsibly our competition with other countries including China; and also what we’re doing to deal with the ongoing and serious conflicts in our world in places like Gaza, where the President has worked tirelessly to get a hostage ceasefire deal, and conflicts like Sudan, where you have absolutely unprecedented displacement and a really serious crisis that we think needs to get more attention. 

    So I think that will be the frame, and I’ll leave the details for the President’s speech tomorrow.

    MODERATOR:  Great.  Thank you very much.  Our next question is going to go to Asma Khalid.  You should be able to unmute yourself.

    Q    Yes.  Hi.  Thanks for doing this.  Similarly, sort of on the speech, could I get a sort of broad, I guess, framework or tone that you all are thinking about?  I know you say that the President came into office talking about building international coalitions, wanting to rebuild the United States stature on the world, but this is a really different moment than when the President even gave the speech last year, before October 7th.  He is now leaving office, and there are multiple sort of intractable problems right now in the world.  And can you just kind of give us any sense of tone in how the President is thinking about that and the very limited time he has left to solve them?

    SENIOR ADMINISTRATION OFFICIAL:  Thanks, Asma.  Look, I think it’s a good question.  The world has changed.  The world has gotten more difficult in many ways, as you noted. 

    But, you know, as I said, the President came into office with a vision of how countries need to work together, how they need to work through institutions, how they need to partner to solve big global challenges.  And the fact that we do have these challenges, the fact that we do have Gaza, the fact that we do have Ukraine and Sudan, still serious issues in our world, just underscores the need for that kind of cooperation.  And I think you’ll hear that in his speech. 

    Yes, he’ll talk about the significant accomplishments, achievements of his approach, but also talk about how we need the spirit, we need to continue working together to solve these big challenges, whether it is the wars you mentioned or other challenges such as the climate crisis or managing the implications of some of the new technologies. 

    So I think this will be an important moment to say: Where do we go and what are the principles in which we’re going to solve these problems?  Thanks.

    MODERATOR:  Thank you very much.  Our next question is going to go to Paris Huang.  You should be able to unmute yourself. 

    Q    All right.  Hi.  Thank you, Michael.  Thank you, [senior administration official].  Two-parts question.  So, kind of follow up on the questions from Zeke and Asma.  So, of course, we know China and Russia have been heavily influencing the U.N. for years.  You know, we see all those voting records.  And President Biden have been doing a lot of reform during the four years.  Does he believe that those changes will sustain after he leaves the White House?

    And second question: In last year’s UNGA remarks, President Biden talked about the peace and stability of Taiwan Strait, which was the first time a U.S. president actually talked about Taiwan at the UNGA.  So, will he include Taiwan again in his remarks this year?  Thank you.

    SENIOR ADMINISTRATION OFFICIAL:  Thanks.  And I appreciate the question.  I think it’s a good question in terms of, you know, have we left the United Nations as an institution better off.  I think we do have results, and the President will talk about that.  You know, it’s a time of great divisions, and the U.N. has already been — has always been a reflection of the world as it is. 

    That said, when you look at what we’ve done, including through the United Nations, to, for example, rally the world to defend the U.N. Charter after the Ukrainian invasion, we secured a U.N. General Assembly resolution in which 141 countries stood up and said, “We condemn this, and we stand in favor of the U.N. Charter.”

    You’ve also seen a more progressive and forward-leaning position on institutional reform.  For example, two years ago, the President announced a shift and a more forward-leaning position in reforming and expanding the United Nations Security Council.  And that’s definitely a piece of this well as well. 

    I won’t get into the details on, you know, specifically what he’ll mention on individual issues, but I will say that an important part of the President’s legacy has been thinking about how we responsibly manage our competition with China, and that includes many facets, economic security, and those will be addressed in the speech.

    MODERATOR:  Thank you very much.  Our next question is going to go to Sheryl Gay Stolberg.  You should be able to unmute yourself, Sheryl.

    Q    Hi.  Thank you for doing this call.  You know, this is not a political speech, but it does occur in the context of an election in which one of the candidates has an isolationist vision that is far apart, diametrically opposed to that of the President.  And I’m wondering, to what extent can the President use this speech to ensure that his own vision of global alliances survives?  Is he concerned that that vision will unravel?

    And will this speech be in any way directed to the American people, as much as to world leaders, as a reminder of the importance of America’s place in the world?

    SENIOR ADMINISTRATION OFFICIAL:  Look, as you said, this is not a political speech, but the President, again, he has a vision.  He came into a vision — into office.  That vision has produced results.  And there are many opponents and critics of that vision, not just internationally but at home.  It has been the President’s view that he needs to explain why this vision of working together with countries to solve these big challenges actually produces results, and that’s actually how we’re going to be measured. 

    And when I say “produces results,” that means internationally, in terms of ending war, in terms of tackling challenges like sustainable development, the debt crisis, climate, but it also means that he needs to explain how his vision has produced results for the American people.  And that’s where I think there’s a very strong record, and some of it is very, very tangible. 

    For example, the summit on the coalition on synthetic drugs, that is him bringing together countries, all of whom share a challenge — dealing with synthetic drugs — but convening them here, talking about deliverables, talking about how we’re going to work together.  And this is something that directly affects the situation of the American public, as my colleague briefed earlier, in terms of the overall record on issues like fentanyl. 

    So I think he’ll lay that out tomorrow, and I think it will stand as representing that vision and what it’s achieved.

    MODERATOR:  Thank you very much.  We will go to Danny Kemp.  You should be able to unmute yourself.

    Q    Thanks very much for doing this.  I just wanted to ask about the current situation in the Middle East.  I mean, you know, the speech tomorrow is really going to be a bit overshadowed by the events in Lebanon, where we’ve seen nearly 500 people killed in the space of a day.  How’s he going to address that?  And more particularly, how will the President be seeking to — will he be talking to other leaders about that?  What’s he actually going to be doing at the UNGA more generally to try and get this thing sorted out?  Thanks.

    SENIOR ADMINISTRATION OFFICIAL:  This is one of the advantages of the U.N. General Assembly: You literally have the whole world here.  So when you do have crises of the day, they’ll be addressed.  And I have no doubt that the situation in the Middle East will be an important theme in a lot of the meetings, not just that the President has, but other senior U.S. officials who will be convening to talk about various aspects of the crisis and what we can do to stabilize the situation. 

    He will address the Middle East, especially this very, very difficult year that we have all gone through.  And again, I think it’s an opportunity to talk about what we have achieved and what we still need to do, given a situation that is just heartbreaking where hostages have not been returned, the humanitarian situation in Gaza, and, as you know, just such a sensitive issue, such a delicate and dangerous situation between Israel and Lebanon right now.

    Thanks.

    MODERATOR:  Thank you very much.  And unfortunately, that is all the time we have today.  Thank you all for joining this call.  Thank you to our speakers.  And feel free to follow up with our team at the NSC press team with any questions. 

    And again, this call is under embargo until 5:00 a.m. tomorrow.  Thank you all again, and hope you have a great rest of your evening.

    5:53 P.M. EDT

    MIL OSI USA News –

  • MIL-OSI USA News: Statement from President Joe  Biden on CHIPS and Science Act Final Award for Polar Semiconductor

    Source: The White House

    Semiconductors – those tiny chips smaller than the tip of your finger – power everything from smartphones to cars to satellites and weapons systems.  I signed the CHIPS and Science Act to revitalize American leadership in semiconductors, strengthen our supply chains, protect our national security, and advance American competitiveness. And over the last three and a half years, we have done just that, catalyzing over $400 billion in private sector investments in semiconductors and electronics that are creating over 115,000 construction and manufacturing jobs. This year alone, the United States is on pace to see more investment in electronics manufacturing construction than it did over the last 24 years combined.

    Today’s announcement that the Department of Commerce has finalized the first commercial CHIPS Incentives award with Polar Semiconductor marks the next phase of the implementation of the CHIPS and Science Act, and demonstrates how we continue to deliver on the Investing in American agenda. Polar’s new facility will also be completed under a Project Labor Agreement to support its construction workforce, creating good-quality union jobs in Bloomington, Minnesota. Today’s announcement is just one of the many ways our Investing in America agenda is reshoring U.S. manufacturing, investing in workers and communities across the country, and advancing America’s leadership in the technologies of tomorrow.

    ###

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: NDRC’s Department of Foreign Capital and Overseas Investment and HKMA jointly hold seminar on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” (with photos)

    Source: Hong Kong Government special administrative region

    NDRC’s Department of Foreign Capital and Overseas Investment and HKMA jointly hold seminar on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” (with photos)
    NDRC’s Department of Foreign Capital and Overseas Investment and HKMA jointly hold seminar on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” (with photos)
    ******************************************************************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     The National Development and Reform Commission (NDRC)’s Department of Foreign Capital and Overseas Investment and the Hong Kong Monetary Authority (HKMA) jointly held a seminar in Hong Kong on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” today (September 24). The Director-General of the NDRC’s Department of Foreign Capital and Overseas Investment, Mr Zheng Chiping, addressed the seminar in person. The NDRC delegation delivered a policy briefing on supporting the issuance of offshore debt by Mainland enterprises.     Hong Kong has been a premier offshore financing platform for Mainland enterprises. In October 2023, the NDRC and the HKMA signed a Memorandum of Understanding (MoU) to further support cross-border financing by Mainland enterprises in Hong Kong and to promote the diversified development of the offshore bond market. Today’s seminar is the first promotional event jointly organised pursuant to the MoU, with a view to enhancing the understanding of the relevant policies and requirements regarding offshore debt among market participants, and encouraging them to leverage Hong Kong’s platform for cross-border financing.     The seminar comprised a policy briefing session and a roundtable discussion session, with a total of about 200 participants from Mainland enterprises, industry associations, financial institutions and law firms, etc, in attendance. Mr Zheng and the Chief Executive of the HKMA, Mr Eddie Yue, addressed the policy briefing session. The NDRC delegation delivered a policy briefing on Mainland firms’ borrowing of medium to long-term foreign debt. In the closed-door roundtable discussion session, the NDRC delegation had an in-depth exchange with industry representatives from around 30 organisations on the latest developments and policies in connection with the offshore debt market.     Mr Zheng said, “As an important international financial centre and the world’s leading offshore Renminbi centre, Hong Kong serves not only as the nexus connecting the Mainland and international capital markets, but also the premier platform for the Mainland’s ‘attracting foreign investment’ and ‘going global’ strategy. The NDRC encourages more Mainland enterprises to leverage Hong Kong’s international financial platform to conduct cross-border financing activities, broaden financing channels, enrich financing tools, and optimise financing structures. We welcome continued support and facilitation provided by Hong Kong authorities for Mainland enterprises’ debt issuance in Hong Kong, with a view to collectively fostering a more open, transparent and efficient financing environment. We also welcome the active participation by the global investors and various market institutions to realise mutual benefits and join hands in development. The NDRC will also continue to enhance supervision and services, and create synergy through supervisory co-operation with the HKMA, in concertedly supporting and promoting the steady, long-term development of the Hong Kong’s bond market.”     Mr Yue said, “The HKMA would like to thank the NDRC for the significance it attaches to Hong Kong’s role as a cross-border financing hub for Mainland enterprises, and to Mr Zheng for leading the NDRC delegation to Hong Kong for this policy briefing to the industry. The seminar was well received by the industry, and has deepened the understanding of the relevant Central Government policies, which is conducive to better supporting Mainland enterprises’ cross-border financing activities in Hong Kong and contributing to the internationalisation of Renminbi and the region’s green and low-carbon transition. Building on this successful foundation, we look forward to deepening our sustained co-operation with the NDRC and fostering the contribution of Hong Kong’s financial services to the Mainland’s high-quality development of the real economy and high-standard opening up.”

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:51

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    MIL OSI Asia Pacific News –

  • MIL-OSI China: China calls for joint efforts to advance global governance

    Source: China State Council Information Office

    Wang Yi, special representative of Chinese President Xi Jinping, member of the Political Bureau of the Communist Party of China Central Committee and Chinese foreign minister, addresses the UN Summit of the Future at the UN headquarters in New York, Sept. 23, 2024. [Photo/Xinhua]

    Chinese Foreign Minister Wang Yi on Monday called on the international community to “take good care of our common home” and make joint efforts to advance global governance, as “humanity has only one planet Earth to call home, and we belong to the same world community.”

    Facing profound changes unseen in a century, it was highly relevant that world leaders gathered at the Summit of the Future and, together, adopted the Pact for the Future to galvanize their collective efforts for world peace and development, and to map out the future of humanity, said Wang, who is also special representative of Chinese President Xi Jinping and a member of the Political Bureau of the Communist Party of China Central Committee, in his statement at the summit.

    Wang noted that with this goal in mind, Xi has put forward the vision of building a community with a shared future for mankind, advocated high-quality Belt and Road cooperation, and proposed the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative.

    These vision and initiatives, he said, have provided new solutions for tackling the common challenges of humanity and drawn a new blueprint for building a better world.

    The minister elaborated the four-point proposal put forth by China. First, countries of the world need to build a future of peace and tranquility, and should uphold the vision of common, comprehensive, cooperative and sustainable security, and settle disputes through dialogue, resolve differences through consultation and enhance security through cooperation. And major countries, in particular, should lead by example by breaking geopolitical circles, rising above bloc confrontation, and serving as propellers for world solidarity and anchoring for international peace.

    Second, countries of the world need to build a future of development and prosperity, follow a people-centered development philosophy and advocate a universally beneficial and inclusive economic globalization, so as to deliver the fruits of development to the people and ensure common prosperity for all countries.

    Third, countries of the world need to build a future of fairness and justice, build an equal and orderly multipolar world, oppose acts of hegemonism such as unilateral sanctions, and protect the legitimate rights and interests of developing countries.

    Fourth, countries of the world need to build a better future by keeping abreast with the times and making global governance more just and equitable.

    “China will work hand in hand with countries around the world to advance the building of a community with a shared future for mankind and create a more peaceful and better tomorrow,” Wang said.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: SEE attends Hong Kong-Shenzhen Joint Working Group on Environmental Protection (with photo)

    Source: Hong Kong Government special administrative region

         The Secretary for Environment and Ecology, Mr Tse Chin-wan, today (September 24) led a delegation to Shenzhen to attend the Hong Kong-Shenzhen Joint Working Group on Environmental Protection meeting. Also attending the meeting were the Permanent Secretary for Environment and Ecology (Environment), Miss Janice Tse; the Director of Environmental Protection, Dr Samuel Chui; and representatives from the Environment and Ecology Bureau, the Environmental Protection Department and the Agriculture, Fisheries and Conservation Department.
          
         Various collaboration issues were discussed in the meeting, including landfill management, marine pollution prevention and control, and cross-border transportation using new energy. Both sides reported on the progress of various work items and exchanged views at the meeting. For example, the Hong Kong Special Administrative Region Government has completed a freezing survey of the number and locations of oyster rafts in Deep Bay, and will continue to maintain close communication with Shenzhen regarding the management of the oyster rafts. As for the North East New Territories Landfill, Hong Kong has implemented a series of improvement measures and will continue to collaborate with Shenzhen to further enhance the odour control at the Landfill.
          
         Mr Tse said, “I look forward to continuing to strengthen communication and co-operation with Shenzhen on ecological and environmental protection through the Joint Working Group, which is a highly meaningful platform, so as to enhance the work on environmental protection and ecology, and to make proactive contributions to our country’s ecological civilisation and building a beautiful China.”

         Mr Tse will return to Hong Kong this evening.   

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Customs seizes suspected dangerous drugs worth about $5.6 million (with photo)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs seizes suspected dangerous drugs worth about $5.6 million (with photo)
    Hong Kong Customs seizes suspected dangerous drugs worth about $5.6 million (with photo)
    ****************************************************************************************

         Hong Kong Customs yesterday (September 23) seized about 4 kilograms of suspected cocaine and 2.5kg of suspected crack cocaine, with a total estimated market value of about $5.6 million in Kwai Chung. A 34-year-old man suspected to be connected with the case was arrested.     Through intelligence analysis and after an in-depth investigation, Customs targeted the man who was suspected of controlling a drug storage centre at Lai King Hill Road, Kwai Chung, and arrested him in Tsuen Wan yesterday afternoon. Customs officers then escorted the man to a residential flat in Kwai Chung for a search and found the batch of suspected dangerous drugs and a batch of drug packaging paraphernalia therein.     The arrested man, who claimed to be a maintenance workman, has been charged with one count of trafficking in a dangerous drug. He will appear at the West Kowloon Magistrates’ Courts tomorrow (September 25).     Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.     Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:55

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    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Gunmen who shot at four-year-old girl sentenced following Met investigation

    Source: United Kingdom London Metropolitan Police

    Two men who shot at a car that contained two children have been sentenced following an investigation by detectives from the Met’s Specialist Crime Command.

    Jordan Shaw, 20, (25.10.03) of Green Lanes, N8, was sentenced to 21 years’ imprisonment for two counts of possession of a firearm and ammunition with intent to endanger life, conspiracy to commit murder and attempted murder.

    Joshua Fraser, 19, (21.01.05) of King Edwards Road, E9, was sentenced to 14 years’ imprisonment for possession of a firearm and ammunition with intent to endanger life and conspiracy to commit murder.

    On 25 February 2023, both Shaw and Fraser drove into the Shrubland Road, E8, area of Hackney where they shot at a car they thought belonged to a rival gang. However, the car belonged to an innocent family. A 13-year-old boy and four-year-old girl were inside at the time. Fortunately, nobody was injured.

    On 11 August 2023, Shaw was subsequently involved in a shooting on Stoke Newington High Street, N16, in which three shots were fired towards a victim who sustained a single gunshot wound to the arm.

    Detectives carried out extensive investigations into Shaw and Fraser before arresting them at their home addresses on 31 May 2023 and 4 October 2023 respectively.

    Across London, specialist detectives are working closely with local officers to dismantle serious and organised crime groups that pose the greatest harm to London’s communities. Last year, 386 illegal firearms were seized across the capital and between April 2023 and March 2024 there was a reduction in the number of firearms offences from 196 to 145.

    Detective Chief Inspector Andrea Ireland, from Specialist Crime North, said: “Following an extensive investigation, officers have taken two extremely dangerous men off the streets. Our teams also recovered the firearm used in the shooting in Hackney. Forensic work carried out on the gun revealed it was also used in 11 previous firearm discharges in London.

    “This vital work has no doubt had a significant impact in safeguarding our local community and securing justice for the victims of Shaw and Fraser’s crimes.”

    The sentencing took place at Snaresbrook Crown Court on Tuesday, 3 September.

    The Metropolitan Police Service is building a New Met for London, which aims to engage with communities, foster trust, and tackle crime that impacts Londoners the most, such as firearms offences.

    MIL Security OSI –

  • MIL-OSI Asia-Pac: Speech by CE at BritCham Hong Kong Summit 2024 (English only)

    Source: Hong Kong Government special administrative region

    Speech by CE at BritCham Hong Kong Summit 2024 (English only)
    Speech by CE at BritCham Hong Kong Summit 2024 (English only)
    *************************************************************

         Following is the speech by the Chief Executive, Mr John Lee, at Britcham Hong Kong Summit 2024 today (September 24): Mr Jeremy Sheldon (Chair of the British Chamber of Commerce in Hong Kong), Mr Paul McComb (Executive Director of the British Chamber of Commerce in Hong Kong), Deputy Consul-General Sarah Robinson (Deputy Consul-General of the United Kingdom to Hong Kong), distinguished guests, ladies and gentlemen,      Good afternoon to you all. I am delighted to be here, today, for the fourth annual BritCham Hong Kong Summit. And what a day it’s been, with Commissioner Cui Jianchun opening the Summit and five smartly considered panel discussions, each centred on Hong Kong opportunity – long-term, far-reaching opportunities powered by innovation, sustainability, and more.           Panel One’s theme certainly caught my attention, with its focus, and I quote, “Business Leaders Perspective on Hong Kong as a Global Powerhouse City”.           Yes, ladies and gentlemen, Hong Kong indeed endeavours to become a global powerhouse city. With its energy, entrepreneurship and connectivity.           More than an ambition, it is a goal and collective commitment that the Hong Kong SAR Government is working, tirelessly, to realise.           With welcome assistance, let me add, from organisations such as the British Chamber of Commerce in Hong Kong, and its membership of some 1 000 professionals from about 350 companies. Each and every one of you as committed as us in building a flourishing future for all, right here in Hong Kong.           At last count, over 640 UK companies call Hong Kong home. And it’s reassuring to tell you that Hong Kong and UK companies like to do business together. Last year, our bilateral merchandise trade was up a whopping 19 per cent, year on year, and reached nearly HK$130 billion.           Yes, Hong Kong has all along been a key export market for the UK. In the decade between 2014 and 2023, the value of UK exports to Hong Kong grew nearly 100 per cent, to GBP15.7 billion.           Our trade in services are just as vibrant. In 2022, the UK was Hong Kong’s third-largest services trading partner.           And, of course, we like to invest in each other’s economies and companies. In 2021, Hong Kong was the sixth-most popular destination for foreign direct investment from the UK, with a total value of GBP77.6 billion. That accounted for 4.4 per cent of the UK’s total outward FDI stock. Hong Kong, in 2021, was the second-largest Asian investor in the UK, with FDI stock worth GBP16.3 billion.           Hong Kong’s selling card, our great and enduring strength over the years, is our openness to trade and business, our eagerness to connect – with the UK and a world of companies and economies.           “One country, two systems” makes it happen. This unique principle allows Hong Kong to enjoy the wealth of opportunities our country presents, while taking full advantage of our dominant role as the multilevel bridge between the Mainland and the rest of the world.           It ensures that Hong Kong’s robust rule of law, as well as our continuous practice of the common law system, one that resembles that of the UK and many major global financial centres. It also helps to maintain our simple and low tax regime, world-class infrastructure, and international connectivity.           That’s probably why in the latest World Competitiveness Yearbook, published by the International Institute for Management Development, Hong Kong ranked fifth globally. We came first in the world in “international trade” and “business legislation”, and was also among the global top five in “tax policy”, “international investment”, “basic infrastructure”, “finance” and “education”.           As a global powerhouse city, Hong Kong will never stop expanding its business and trade networks. These include our well-established partners among developed economies, as well as new and budding ones.           The 10 Member States of ASEAN – the Association of Southeast Asian Nations – is one of our pre-eminent partners. For more than a decade now, ASEAN has been our second-largest merchandise trade entity. Investment between us is also buoyant. Indeed, Hong Kong is ASEAN’s fourth-largest source of inward direct investment.           It helps, of course, that the free trade agreement and investment agreement between us has been in full force now for three years.           It helps, too, that I have been to seven ASEAN countries since I assumed office just over two years ago. My latest visit, in July, to Laos, Cambodia and Vietnam, resulted in 55 MOUs and related agreements. They will expand our co-operation in trade and investment, as well as finance, technology, logistics and a good many other areas, too.           Our ties with the Middle East have also burgeoned following my visit to the region in February last year.           This past week, Saudi Arabia gave its approval for the first exchange-traded fund, or ETF, investing in Hong Kong equities to be listed on its stock exchange. That’s an encouraging development for investors, too.           Last November, HKEX, and investors, welcomed the listing of Asia-Pacific’s first ETF to track Saudi Arabian equities, allowing local and global investors to invest in the Saudi stock market through Hong Kong. This mutually rewarding co-operation is a boost for Hong Kong’s ETF market and the global connectivity of our financial services sector.           We look, too, to other cities in the Guangdong-Hong Kong-Macao Greater Bay Area for connectivity, for long-term opportunity powered by innovation and technology. I’m sure you’ve heard as much at the panel discussion just now.           The Greater Bay Area, as you will be well aware, brings together Hong Kong, Macao and nine cities in Guangdong province. It counts a population of over 86 million people. Its GDP amounted to nearly US$2 trillion last year, rivalling the world’s 10th largest economy.           More than an enormous consumer market, the Greater Bay Area is fast becoming an innovation and technology hub. This year’s Global Innovation Index ranked the Shenzhen-Hong Kong-Guangzhou cluster second in the world, for the fifth year in a row.           That only underlines the huge potential for I&T development in the Greater Bay Area – and in Hong Kong, China’s most international city as you all know. Hong Kong is the only Asian city that has as many as five universities in the world’s top 100, and boast world-class capabilities in research, a robust intellectual property rights protection system, and an established international business environment. Hong Kong has what it takes to play a pivotal role in the region’s rise as an I&T hub.           The Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop, situated right next to our boundary with Shenzhen, is central to that future. This Hong Kong Park, of 87 hectares in area, together with a 300-hectare Shenzhen Park, will form the Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone. It straddles our geographical boundary with the Mainland and will propel the region’s I&T growth.           The Hong Kong Park’s first three buildings, I’m pleased to say, are expected to complete, gradually, from the end of this year.           The Park’s first phase, a total floor area of up to one million square metres, will focus on a number of I&T areas, including life and health technology, AI, advanced manufacturing and industry, academic and research sectors.           That, of course, will demand technology specialists. A continuing flow of strategic talent of every kind, at every level.           We’re working on that, too. And, according to the International Institute for M
    anagement Development and its 2024 World Talent Ranking, we’re well on our way.           In the latest World Talent Ranking, published just last week, Hong Kong’s ranking rose to ninth, overall – up considerably from 16th last year. That’s also the first time we were back to the ranking’s top 10 since 2016.           And I’m delighted to say that Hong Kong topped the ranking in the percentage of graduates in sciences.           We’re making notable progress, too, in enticing talent to turn to Hong Kong for their future.           As at the end of last month, we have received more than 360 000 applications under our various enhanced talent admission programmes, launched in the end of 2022. Nearly 230 000 applications have been approved, and more than 150 000 professionals have already arrived in Hong Kong, many with their families.           The schemes are popular among our friends from the UK, I’m glad to add. Some 4 100 of these approved applicants are UK nationals. That’s a blessing. For our new Top Talent Pass Scheme, which targets graduates from the world’s best universities and high-income earners, about 7 per cent of the admitted top graduates are from British universities.           And our Working Holiday Scheme with the UK, which celebrates its 10th anniversary this year, has also strengthened our youth ties. At last count, nearly 11 000 young people from Hong Kong and the UK have been granted visas to work, while holidaying, in each other’s places over the past decade.           More than our people-to-people bond, the young and talented professionals joining Hong Kong will boost our labour force. Good news for the economy. For business. For you as well.           Getting, and keeping, talent is, of course, a work in progress, as is the Hong Kong economy. I’ll have more to say on that, and much more, next month, in my annual Policy Address.           And my thanks to BritCham for its Policy Address submission, which I received in early August. I am grateful for your considered thoughts on how Hong Kong can boost its standing as an international trade and finance centre, how we can build our technology and innovation capabilities, take our place as an international talent hub and a good deal more.           I look forward to your continuing co-operation – the excellent work your Chamber is doing for our economy and our community.           On our community, I understand a cheering section from the Chamber will be in London for the upcoming Hong Kong Dinner. This annual gathering is one of the many deep-rooted traditions that have long defined, and distinguished, the abiding ties between our two economies and peoples.           Ladies and gentlemen, I wish you the best of business, health and happiness in the coming year. And, for those of you flying off to London this week, I wish you a memorable Hong Kong Dinner, brimful of the good stories of Hong Kong, a global powerhouse city.           Thank you.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 17:36

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    MIL OSI Asia Pacific News –

  • MIL-OSI: ISDNP Enters Strategic Partnership with Vietnam’s Red River Group through MOU

    Source: GlobeNewswire (MIL-OSI)

    SEOUL, KOREA, Sept. 24, 2024 (GLOBE NEWSWIRE) — ISDNP (https://isdnp.co.kr/), in partnership with JournalInNews, has taken a significant step towards entering the Vietnamese market by forging an alliance with a prominent local enterprise. On the 19th, the two companies jointly announced, the signing of a Memorandum of Understanding (MOU) on the 17th with Vietnam’s Red River Group to formalize their strategic collaboration.

    This agreement follows a high-level meeting on the 16th at Red River’s headquarters in Hanoi, Vietnam, between Insoo Park, the Chairman of JournalInNews, and LE CONG HOANG, Chairman of the Red River Group, during which both parties discussed the framework for a strategic partnership.

    The MOU outlines key areas of cooperation, including the introduction of ISDNP’s pedestrian signal voice guidance system in Vietnam and the promotion of JournalInNews’s JsetCoin within the Vietnamese business landscape. Both companies are poised to jointly deploy ISDNP’s pedestrian signal system nationwide, leveraging Red River Group’s extensive network and resources.

    Red River Group is a prominent, diversified conglomerate in Vietnam, with business interests spanning petroleum distribution, tourist vehicle rentals, smart parking solutions, automotive management centers, and emergency response infrastructure. Notably, its traffic rescue centers, which provide critical emergency assistance, are recognized as essential contributors to Vietnam’s transport and safety sectors.

    Through this partnership, both parties anticipate enhancing bilateral economic, social, and cultural exchanges while delivering substantive outcomes. ISDNP has committed to supplying the requisite technical expertise and information necessary for the successful deployment of the pedestrian signal voice guidance system, while Red River Group has pledged comprehensive support to ensure the project’s smooth execution.

    Additionally, JournalInNews has designated Red River Group as its strategic partner to facilitate the expansion of JsetCoin within the Vietnamese market. Both parties are exploring various collaborative avenues, including the potential establishment of a local subsidiary, aimed at fostering a synergistic partnership and ensuring the efficient exchange of essential information.

    This MOU is expected to strengthen economic ties between the two countries and serve as a catalyst for sustained growth. Both parties have committed to maintaining close cooperation to ensure the successful realization of the agreement’s objectives.

    Media contact

    Brand: ISDNP

    Contact: Media team

    Email: support@isdnp.co.kr

    Website: https://isdnp.co.kr/

    SOURCE: ISDNP

    The MIL Network –

  • MIL-OSI: Form 8.3 – [KEYWORDS STUDIOS PLC – 23 09 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 KEYWORDS STUDIOS PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 23 SEPTEMBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

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

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,388,169 1.7244    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,388,169 1.7244    

    All interests and all short positions should be disclosed.

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

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

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

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

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

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

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 1,185 2428.8002p

    (b)        Cash-settled derivative transactions

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

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

    (i)        Writing, selling, purchasing or varying

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

    (ii)        Exercise

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

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

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

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

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

    NONE

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

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

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 24 SEPTEMBER 2024
    Contact name: PHIL HULME
    Telephone number: 01253 376551

    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 www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Economics: New White Paper on Experience Monetization with Intelligent Core Network Sep 24, 2024

    Source: Huawei

    Headline: New White Paper on Experience Monetization with Intelligent Core Network
    Sep 24, 2024

    [Dubai, the United Arab Emirates, September 10, 2024] GlobalData, a renowned consulting firm, has just released a thought-provoking white paper titled Intelligent Core Network: Starting a New Chapter in Experience Monetization, in collaboration with Huawei and a global coalition of leading operators including AIS in Thailand, Cell C in South Africa, China Mobile, du in the UAE, the e& group, and Turkcell in Türkiye. This insightful report sheds light on the challenges operators face under traditional traffic monetization models and makes a compelling case for harnessing intelligence technologies to deliver tailored experiences that cater to users’ diverse needs. It can be used as a roadmap for transforming operators’ business models from traffic-based to experience-driven, so as to unlock new avenues for growth.
    White paper release ceremony

    The widespread adoption of traditional traffic-based operation models has led to a homogenization of services, making it harder than ever for operators to stand out in a crowded market. The rise of OTT players has further intensified competition, leading to declining revenue growth for operators and a pressing need for new growth opportunities. However, as mobile networks continue to evolve at a tremendous rate, traditional network architectures are unable to keep up with the diversification of users’ service requirements. This is where the concept of experience monetization comes in. It is a game-changing idea that enables operators to transform their business models and unlock new revenue streams. By providing personalized and differentiated services, operators can take advantage of their network capabilities to meet users’ diverse needs while also offering tailored pricing models. This innovative approach not only elevates the user experience but also creates new opportunities for revenue growth.
    Conventional network operations are often hindered by four key breakpoints: unclear target users and services, inaccurate and untimely experience perception, slow and imprecise strategy optimization, and lack of user awareness of experience assurance. Experience monetization offers a solution to these challenges by leveraging intelligence technologies and the Network Data Analytics Function (NWDAF) to facilitate data analysis and intelligent decision-making. By combining these capabilities, operators can achieve closed-loop management of service awareness, experience optimization, and operations, ultimately leading to better user experiences and improved business outcomes.
    Today, forward-thinking operators are actively exploring new experience monetization models to boost their bottom line and stay ahead of the competition. Delving into the best practices of multiple operators in China, Asia Pacific, and the Middle East, the white paper highlights the success of differentiated experience payment models in areas such as video, live streaming, and gaming. These innovative approaches have yielded significant returns. Yet while the industry is witnessing a growing trend in experience monetization, there remains substantial market potential waiting to be tapped.
    The release of this white paper provides operators with a roadmap for better navigating the intelligent era and driving their growth forward.
    The white paper is available at: https://www.verdict.co.uk/downloads/whitepapers/data/intelligent-5g-core-starting-a-new-chapter-in-experience-monetization/#globaldata-technology

    MIL OSI Economics –

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

    Source: Black Sea Trade and Development Bank

    Press Release | 24-Sep-2024

    New Credit Line to Support Small Businesses and Green Projects

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

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

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

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

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

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

    Contact: Haroula Christodoulou

    Phone: +30 2310 290533

    : @BSTDB

    MIL OSI Economics –

  • MIL-OSI Economics: New White Paper on Experience Monetization with Intelligent Core Network

    Source: Huawei

    Headline: New White Paper on Experience Monetization with Intelligent Core Network

    [Dubai, the United Arab Emirates, September 10, 2024] GlobalData, a renowned consulting firm, has just released a thought-provoking white paper titled Intelligent Core Network: Starting a New Chapter in Experience Monetization, in collaboration with Huawei and a global coalition of leading operators including AIS in Thailand, Cell C in South Africa, China Mobile, du in the UAE, the e& group, and Turkcell in Türkiye. This insightful report sheds light on the challenges operators face under traditional traffic monetization models and makes a compelling case for harnessing intelligence technologies to deliver tailored experiences that cater to users’ diverse needs. It can be used as a roadmap for transforming operators’ business models from traffic-based to experience-driven, so as to unlock new avenues for growth.
    White paper release ceremony

    The widespread adoption of traditional traffic-based operation models has led to a homogenization of services, making it harder than ever for operators to stand out in a crowded market. The rise of OTT players has further intensified competition, leading to declining revenue growth for operators and a pressing need for new growth opportunities. However, as mobile networks continue to evolve at a tremendous rate, traditional network architectures are unable to keep up with the diversification of users’ service requirements. This is where the concept of experience monetization comes in. It is a game-changing idea that enables operators to transform their business models and unlock new revenue streams. By providing personalized and differentiated services, operators can take advantage of their network capabilities to meet users’ diverse needs while also offering tailored pricing models. This innovative approach not only elevates the user experience but also creates new opportunities for revenue growth.
    Conventional network operations are often hindered by four key breakpoints: unclear target users and services, inaccurate and untimely experience perception, slow and imprecise strategy optimization, and lack of user awareness of experience assurance. Experience monetization offers a solution to these challenges by leveraging intelligence technologies and the Network Data Analytics Function (NWDAF) to facilitate data analysis and intelligent decision-making. By combining these capabilities, operators can achieve closed-loop management of service awareness, experience optimization, and operations, ultimately leading to better user experiences and improved business outcomes.
    Today, forward-thinking operators are actively exploring new experience monetization models to boost their bottom line and stay ahead of the competition. Delving into the best practices of multiple operators in China, Asia Pacific, and the Middle East, the white paper highlights the success of differentiated experience payment models in areas such as video, live streaming, and gaming. These innovative approaches have yielded significant returns. Yet while the industry is witnessing a growing trend in experience monetization, there remains substantial market potential waiting to be tapped.
    The release of this white paper provides operators with a roadmap for better navigating the intelligent era and driving their growth forward.
    The white paper is available at: https://www.verdict.co.uk/downloads/whitepapers/data/intelligent-5g-core-starting-a-new-chapter-in-experience-monetization/#globaldata-technology

    MIL OSI Economics –

  • MIL-OSI Europe: Ministerial Discussion on the Protection of Humanitarian Personnel

    Source: Switzerland – Department of Foreign Affairs in English

    New York, 23.09.2024 – Address by Federal Councillor Ignazio Cassis, Head of the Federal Department of Foreign Affairs (FDFA) – Check against delivery

    Excellencies, Ladies and Gentlemen,

    This ministerial discussion occurs amid a concerning global backdrop, with over 120 armed conflicts ongoing worldwide.

    As a result, millions of people require humanitarian aid and protection, while humanitarian and UN personnel face growing threats, often becoming targets of attacks.

    Switzerland is alarmed by the rising violence against humanitarian workers, which is sometimes deliberately directed at them.

    A concrete step was taken in May: my country introduced Security Council resolution 2730 on the protection of humanitarian and UN personnel, addressing this alarming trend. The resolution was adopted with the support of 98 UN Member States. I extend my thanks to all these States, especially Brazil for its initial work on the resolution.

    This resolution is crucial for three reasons:

    1. It reaffirms the obligations of States and parties in armed conflicts to respect and protect humanitarian and UN personnel, including national and local staff.

    2. It condemns attacks on these personnel and urges States to ensure accountability for related violations.

    3. It mandates the Secretary-General to submit recommendations to the Security Council within six months to prevent and address such attacks and combat impunity.

    These recommendations focus on concrete actions. They are currently being prepared, and we look forward to receiving them in November.

    Excellencies

    Humanitarian personnel are a lifeline for millions of civilians worldwide, risking their lives daily to assist and protect those affected by armed conflict.

    We must safeguard their ability to carry out this vital work and reaffirm our commitment to their protection.

    With so many conflicts raging and civilians suffering so much, we must step up our efforts to ensure respect for international humanitarian law and strengthen the political will to build a more humane world.

    Thank you.

    Address for enquiries

    FDFA Communication
    Federal Palace West Wing
    CH-3003 Bern, Switzerland
    Tel. Press service: +41 58 460 55 55
    E-mail: kommunikation@eda.admin.ch
    Twitter: @SwissMFA

    Publisher

    Federal Department of Foreign Affairs
    https://www.eda.admin.ch/eda/en/home.html

    MIL OSI Europe News –

  • MIL-OSI Europe: France: EIB and European Commission provide €276 million in support for Métropole Européenne de Lille’s investments in sustainable mobility

    Source: European Investment Bank

    • Métropole Européenne de Lille is receiving a €245 million green loan from the EIB to back its modernisation and urban transport projects.
    • This financing comes together with a €31.5 million grant from the European Commission via the public sector loan facility (PSLF) set up under the European Green Deal’s Just Transition Mechanism (JTM).
    • This joint blended financing support from the EIB and European Commission will unlock additional investment for public entities in the European regions most affected by the energy transition.

    Métropole Européenne de Lille (Lille metropolitan authority) has taken out a €245 million green loan with the European Investment Bank (EIB) to fund its public transport network and cycle routes. It aims to provide 1.2 million local residents with more efficient, affordable and environmentally friendly transport services.

    This project is also benefiting from a €31.5 million European Commission grant under a blended financing structure made possible by the public sector loan facility (PSLF), which is one of the key pillars of the Just Transition Mechanism (JTM) set up under the European Green Deal. The European Climate, Infrastructure and Environment Executive Agency (CINEA) will manage this grant and monitor the implementation of the project.

    The Mel in Green Mobility project will provide funding for various segments of Métropole Européenne de Lille’s public transport infrastructure. The first part of the project covers the modernisation of the public transport fleet, including the renewal of 30 trams and 42 buses with new clean vehicles. It also features investments in platforms, depots and other related facilities. Lastly, the project supports the Métropole’s ambitious cycling plan including 220 km of additional infrastructure between 2023 and 2027 to improve safety for cyclists, the financing of a new bus rapid transit line, and the construction of a multimodal interchange hub.

    It thereby aims to accelerate changes in user behaviour by developing a more efficient and sustainable mobility service, improving public transport accessibility and broadening soft mobility options. Once complete, the project will have improved tram and bus network performance, promoted intermodality (reduction in the share of private vehicles from 56% in 2023 to 40% in 2035) and diversified public transport in the area. This increased network efficiency will ultimately result in substantial time savings on the 410 000 daily journeys made by users, fewer traffic jams and better access to the Métropole Européenne de Lille.

    The regions most affected by the energy transition (like Hauts-de-France) are identified in the territorial just transition plans. These plans are drawn up by each EU Member State and outline the challenges to be addressed in each just transition region, together with the development needs and targets to be reached by 2030.

    Background information

    About the EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its 27 Member States. It provides loans to the public and private sectors for sound investment contributing to EU policy goals. In 2023, France received more EIB financing for the energy and green transition than any other country, with an overall investment of €6.9 billion for renewable energy, clean mobility and energy efficiency. A partner of regional authorities, last year the EIB directed €2.3 billion in funding to rail and urban public transport and soft mobility, making it the number one sector in terms of EIB investment in France over the year.

    About the European Commission’s Just Transition Mechanism

    The public sector loan facility (PSLF) is the third pillar of the Just Transition Mechanism (JTM) – a key tool of the European Green Deal investment plan to make sure that no one and no region is left behind in the transition to a climate-neutral economy.

    The public sector loan facility combines loans from the EIB (up to around €6 billion to €8 billion overall) and grants from the European Commission (up to €1.3 billion overall). The combined support is designed to mobilise additional investment for public sector entities in the European regions most affected by the climate and energy transition (like Hauts-de-France), as identified in the national territorial just transition plans, to meet their development needs as part of the transition to a climate-neutral economy. These plans are developed by each EU Member State and set out the challenges in each just transition region, along with the development needs and objectives to be met by 2030.

    The blend of the EIB loan and the European Commission grant will facilitate the financing of projects that do not generate sufficient revenue streams to cover their investment costs. The implementation of the public sector loan facility is managed by the European Climate, Infrastructure and Environment Executive Agency (CINEA).

    About Métropole Européenne de Lille

    Métropole Européenne de Lille works every day to serve its 95 member municipalities and 1.2 million residents. It covers the key areas of transport, housing, economy, public space and roadways, urban planning, urban policy, water, wastewater, household waste, disability access, nature and living environment, sport, tourism and crematoria. Chaired by Damien Castelain since 18 April 2014, the Metropolitan Council is composed of 184 members elected by direct universal suffrage for a six-year mandate.

    MIL OSI Europe News –

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

    Source: Securelist – Kaspersky

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

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

    What is web tracking?

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

    Types of web tracking

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

    Cookies

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

    Web beacons

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

    Social media tracking

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

    Web analytics

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

    Fingerprinting

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

    Statistics collection principles

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

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

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

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

    Global tracker giants

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

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

    Google

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

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

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

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

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

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

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

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

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

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

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

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

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

    New Relic

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

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

    Bing and Microsoft Corporation

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

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

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

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

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

    Regional statistics

    Europe

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

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

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

    Africa

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

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

    Middle East

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

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

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

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

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

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

    Latin America

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

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

    North America

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

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

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

    Oceania

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

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

    The CIS

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

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

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

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

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

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

    East Asia

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

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

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

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

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

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

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

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

    South Asia

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

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

    Takeaways

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

    MIL OSI Global Banks –

  • MIL-OSI Europe: WHO and multilateral development banks kick off US$ 1.5 billion primary health financing platform with new funds and launch of first investment plans in 15 countries

    Source: European Investment Bank

    Execution is starting under the new Health Impact Investment Platform on the first country health investment plans turning original commitment into operational reality. The landmark partnership between Multilateral Development Banks (MDBs), the World Health Organization (WHO) and low- and middle-income countries (LMICs) is addressing the critical need for coordinated efforts to strengthen primary healthcare (PHC) in vulnerable and underserved communities to build resilience against pandemic threats like mpox and the climate crisis.

    At the high-level roundtable meeting in New York on the margins of the UN Summit of the Future in New York today, new funding was signed, and it was agreed that the partners will sit down and start identifying needs and planning health care improvements in 15 countries*.

    The roundtable was attended by the partnership’s three founding MDBs – the African Development Bank (AfDB), the European Investment Bank (EIB), and the Islamic Development Bank (IDB) –,WHO and the heads of state, as well as finance and health ministers from Djibouti, Egypt and Ethiopia. The Asian Development Bank also attended the high-level meeting and announced their intention to join the Health Impact Investment Platform in order to expand the initiative into the regions where it operates.

    The EIB and WHO signed an initial contribution of € 10 million to kick start the implementation of these investment plans. The Islamic Development Bank and the African Development Bank are finalizing their contributions for the same amount that will be signed in the near future.

    The platform is a key part of an effort to unlock € 1.5 billion in concessional loans and grants to expand and improve primary health-care services in low- and middle-income countries, especially in the most vulnerable communities. The investment plans now being developed in these 15 countries, as a phase 1, are expected to make up a significant proportion of that financing effort.

    The platform aims to work in close partnership with governments to develop national health strategies focused on primary health care and on prioritizing investment opportunities that meet national health needs. Today’s kick-off comes one year after the platform was announced during the Summit for a New Global Financing Pact in Paris.

    Dr Ibrahima Sy, Minister of Health, Republic of Senegal said, “it’s important to bring in private sector, local communities and different forms of financing to drive health progress. The involvement of WHO, multilateral development banks and countries is critical to guiding the investments from this Platform to deliver primary health care on the ground and develop local vaccine manufacturing capacity.” 

    Dr Jane Ruth Aceng, Minister of Health of Uganda said, “I congratulate you for coming up with this very important platform. All our issues are actually based at primary health care level, whether it comes to disease outbreaks, whether it comes to health access, everything is at the primary health care level, and our diseases start there and end there.”

    “Primary health care is the most equitable, cost-effective and inclusive way to improve health and well-being, helping to keep people healthy, prevent diseases, and detect outbreaks at their earliest stage,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “The Health Impact Investment Platform will be a vital source of new financing to build climate and crisis-resilient primary health care in some of the countries that need it most. WHO thanks the multilateral development banks for their partnership, and we are committed to working closely with the countries to put these funds to work and start making a difference in the communities we serve.”

    Nadia Calviño, President of the European Investment Bank, said: “One year ago, we launched the Health Impact Investment Platform, and today we are taking the next steps with our contribution to help countries develop their tailored investment plans. Supporting primary health-care services is the foundation of strong communities. Working closely with fellow Multilateral Development Banks and partner countries, guided by the expertise of the World Health Organization, we are making a difference.”

    “The health security of the world is only as strong as its weakest part, and the new funds announced today will help countries improve primary healthcare, which is critical to stopping disease outbreaks in their tracks,” said Jutta Urpilainen, European Commissioner for International Partnerships. “In addition to the funds, the Platform will strengthen partnerships between countries and funders to ensure funds are effectively invested.”

    Before the COVID-19 pandemic, WHO estimated that to reach the health-related Sustainable Development Goals, low- and low-middle income countries needed to increase their health spending significantly and require an additional US$ 371 billion annually combined by 2030. This funding would allow populations to access health services, contribute to building new facilities and train and place health workers where they need to be. It has also been estimated that preparing for future pandemics will require investment in the order of US$ 31.1 billion annually. Approximately one third of that total would have to come from international financing.

    The new Platform builds on experience gained through cooperation between countries, multilateral organizations and development banks that proved fruitful during the pandemic. For example, WHO, the EIB and the European Commission supported Angola, Ethiopia and Rwanda in strengthening their health systems. Initially launched as stand-alone programmes or as part of the countries’ response to COVID-19, these interventions mobilized technical assistance, grants and investments with advantageous terms to build up or implement primary health care related interventions.

    *15 countries identified as part of phase one of the Health Impact Investment Platform are:

    • Burundi
    • Central African Republic 
    • Comoros
    • Djibouti
    • Egypt
    • Ethiopia 
    • Gambia
    • Guinea Bissau 
    • Jordan
    • Maldives
    • Morocco
    • Senegal
    • South Sudan 
    • Tunisia 
    • Zambia 

    Background information

    About the World Health Organization

    The World Health Organization (WHO) is the United Nations’ specialized agency for health. It is an inter-governmental organization and works in collaboration with its Member States usually through the Ministries of Health. The World Health Organization is responsible for providing leadership on global health matters, shaping the health research agenda, setting norms and standards, articulating evidence-based policy options, providing technical support to countries and monitoring and assessing health trends.

    Media contact: mediainquiries@who.int  

    About the African Development Bank Group

    The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 37 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.

    About the European Investment Bank

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment contributing to EU policy goals. The EIB’s activities focus on the following priority areas: climate and environment, development, innovation and skills, small and medium-sized businesses, infrastructure, and cohesion. The EIB works closely with other institutions and has provided total financing of more than € 42 billion for healthcare-related projects around the world since it started investing in the sector in 1997.  

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Mobility for senior citizens across the EU – E-001731/2024

    Source: European Parliament

    Question for written answer  E-001731/2024
    to the Commission
    Rule 144
    Seán Kelly (PPE)

    With numerous Member States offering discounted or cheaper travel passes for their senior citizens at regional and national level, this promotes independence of older citizens, while ensuring that their mobility remains a priority.

    Has the Commission considered the possibility of developing an initiative where an EU-wide discount is provided to senior citizens to facilitate their travel within the EU? Could such a system be modelled on the implementation of the European disability card and European parking card system? This could also contribute to the tourism industries across all Member States.

    Submitted: 17.9.2024

    Last updated: 23 September 2024

    MIL OSI Europe News –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Conclusion

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

    Thank you.

    MIL OSI Global Banks –

  • MIL-OSI Banking: ADB President Reaffirms Strong Partnership with Bhutan during Official Visit

    Source: Asia Development Bank

    THIMPHU, BHUTAN (24 September 2024) — Asian Development Bank (ADB) President Masatsugu Asakawa reaffirmed ADB’s commitment to supporting Bhutan’s development goals and praised the country’s recent achievements during a 3-day official visit to the country.

    “Bhutan has made significant strides in reducing poverty and improving education and health services, and its recent graduation from least developed country status is commendable,” said Mr. Asakawa. “As a trusted partner for over 4 decades, ADB remains committed to helping Bhutan build on its progress and achieve sustainable development, and the new country strategy provides the road map.”

    During his visit, Mr. Asakawa met with Finance Minister and ADB Governor Lekey Dorji. The discussions centered on ADB’s support for policy reforms and institutional strengthening, climate and disaster resilient infrastructure development, and human capital development. After the meeting, Mr. Asakawa witnessed the signing by ADB and the Royal Government of Bhutan for the $30 million Distributed Solar for Public Infrastructure Project.

    Mr. Asakawa will also visit the Babena satellite clinic in Thimphu, one of five clinics built with ADB financing to bring affordable health care closer to Bhutanese communities and reduce pressure on the main tertiary hospital. He will meet with students at the Samthang Technical Training Institute in Wangdue Phodrang, an institution upgraded with ADB assistance to enhance the employability of secondary school and TVET graduates.

    Highlighting the pressing issue of climate change, Mr. Asakawa will visit rural areas surrounded by the Himalayan Mountains to draw attention to accelerating glacial melt in the region. “Climate action is a top priority for ADB,” he stated. “The rapid glacial melt driven by climate change poses significant risks not just for Bhutan but for the entire region. ADB is launching bold new initiatives that will build resilience in vulnerable areas like the Hindu Kush Himalayas.”

    Mr. Asakawa’s visit follows the recent launch of ADB’s new Bhutan country partnership strategy (CPS). The CPS for 2024–2028 aims to reinforce Bhutan’s development efforts by strengthening public sector management, enabling private sector development, building climate-adaptive and resilient infrastructure, and enhancing human capital development to increase youth employability. The strategy aligns with Bhutan’s 13th Five-Year Plan.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Elizabeth McCaul: The future of European banking supervision – connecting people and technology

    Source: Bank for International Settlements

    Introduction

    I’m honoured to welcome you again to this conference, which is already being held for the fifth time.

    It’s the fifth anniversary of this conference but we are also celebrating the tenth anniversary of the Single Supervisory Mechanism (SSM). Naturally, it is a moment of reflection about what the future holds and how European banking supervision should continue to evolve. And, right now, various societal, political, technological, environmental and economic mega trends are shaping the future of the financial industry. In the tech area, for example, we are in the midst of a fast-paced and unprecedented development which is changing every aspect of the economy.

    The ways of working are changing profoundly.

    My son is a computer programmer. This weekend while driving we spoke about the possibilities for his future and what sort of work he might do, given the rapid innovation taking place. He told me he uses AI now regularly to produce code for him that he then reviews. Very different from the work he was hired for just two years ago when he graduated!

    In the aviation field artificial intelligence (AI) is being used to enhance the safety and efficiency of air traffic control by analysing historical and real-time flight data to predict potential collisions. Predicting accidents before they occur: isn’t that also a goal worthy of banking supervision? And in the health care field, common applications include diagnosing patients, end-to-end drug discovery and development, improving communication between physician and patient or transcribing medical documents such as prescriptions. All of this change in the industries around us are food for thought as we consider in a clear-eyed, realistic and vigilant way the risks and opportunities for us in banking supervision.

    Disruptive technologies like AI are playing a growing role in banks’ day-to-day activities, and access to technology is becoming widespread. At the same time, banks are becoming ever more dependent on data, IT platforms and third-party providers.

    To keep the banking sector safe and sound in the face of these trends, we need to equip the supervisors of the future with the right tools and skills. And it is this principle that has guided our strategic work on the digital agenda.

    Since the inception of European banking supervision in 2014 we have built up and continuously improved a set of core IT systems, launched our suptech efforts and created multiple cutting-edge tools which are already up and running. And now it is time to shape a new common strategy covering both our core IT systems and our suptech tools, as well as, most importantly, their integration.

    SSM tech strategy for 2024-2028

    The new SSM tech strategy for 2024-2028 builds on two main pillars: people and technology. The strategy not only addresses several critical business needs Any smart strategy developed for the future must have at its foundation the recognition that people and technology are increasingly, even inextricably intertwined.

    How have we incorporated that?

    We have done so by setting as our goal connecting people and technology so we can deliver “supervision at your fingertips”, This way, human expertise and technological innovation go hand-in-hand. We are structuring our work to ensure efficient, effective and integrated supervision that keeps pace with the trends and structural changes in the banking sector which I touched upon earlier. We are working on several levels to make sure that supervisors can fully use the applications and data available to them and that technology is seamlessly integrated into their day-to-day work. And we aim to consolidate IT to further strengthen European banking supervision, allowing supervisors to work as a single team with shared technology across the ECB and national competent authorities (NCAs).

    But what does this mean more concretely for our banking supervisors of the future? What impact will this strategy have on their work? What tools will they use?

    To make this tangible, let’s imagine a future supervisor called Pete. The name “Pete” symbolises the two key pillars of our strategy: “Pe” stands for people, and “te” for technology. So, how does our new strategy support Pete?

    People

    Let me start with the first pillar of our new strategy and the most important asset we have: our supervisors, people like Pete. Under this pillar, we plan to support Pete’s work in the following three ways.

    Promoting a user-focused innovation culture

    First, we aim to instil a culture that supports the adoption of our suptech tools and embeds advanced technology into regular supervisory processes. We are convinced that having a clear user focus in all our technological activities and ensuring an enhanced user experience will encourage the take-up of our tools.

    One way of fostering the adoption of tools is our European banking supervision-wide suptech champions initiative. Under this initiative, Pete and other colleagues at the NCAs and in various business areas across ECB Banking Supervision can become trained experts in suptech tools.

    These suptech champions can then provide local and easy-to-access support to users. They also collect feedback and identify user needs in order to further develop the tool. In this way, suptech champions act as ambassadors, both promoting awareness and supporting the use and development of suptech tools. Already, 45 champions across 17 NCAs have reached over 1,000 supervisors through multiple channels, including workshops and providing guidance on the use of suptech tools.

    Future-proofing our organisation

    Second, we are continuing to make our organisation ready for the future by establishing a steady-state tech function that connects internal tech and supervision experts across business areas and NCAs. We want to cultivate a collaborative approach to shaping SSM technology and enhancing the adoption and use of available tools.

    In one of our flagship initiatives, NCAs can become suptech centres, which are at the forefront of developing technology for European banking supervision. They deliver tools that can subsequently be made available to the ECB and other NCAs.

    A case in point is that one NCA has developed a new use case for assessing the group structures of banks over time in our network analysis platform, Navi, which benefits European banking supervision as a whole.

    Deepening our global partnerships

    Third, we seek to tap into the global innovation networks with which we have established strong ties in recent years. For instance, we have been working closely with leading academic institutions to deliver state-of-the-art training to supervisors on machine learning, programming for data analytics, prompting and other topics.

    We are also working closely with industry leaders in other areas, such as generative AI, cloud technology and big data, as well as with start-ups to bring the latest and most advanced technologies to banking supervision. At the same time, we are partnering with other authorities across the world to experiment with new ways of solving common problems. Such partnerships mean that Pete has access to knowledge and state-of-the art technology that boost efficiency and improve supervisory outcomes, which brings me to the second pillar of our strategy, technology.

    Technology

    Through our SSM tech strategy, we want to connect people with technology. In other words, we need to equip Pete with the necessary tools and capabilities.

    Working as a single team with shared technology

    The first cluster in the technology pillar concerns our core IT systems.

    On the one hand we will continue to future-proof our core systems and data infrastructure by making them more modular, scalable and innovation-friendly while keeping them secure. We aim to optimise the IT landscape by integrating and consolidating systems across European banking supervision.

    On the other hand, we will decommission legacy systems to maximise the use and impact of existing applications. Working as a single team across the ECB and NCAs with access to shared technology will allow Pete to collaborate more intensively with European central banking colleagues.

    Olympus is a notable project in this regard.

    Through Olympus, we aim to proactively shape our IT landscape and make it ready for the upcoming challenges and opportunities offered by new technologies. This ambitious project reviews the full IT landscape and sets out a roadmap and action plan for the future of IT in European banking supervision. For this project, we have identified four high-level targets rooted in our supervisory needs that guide all activities.

    Our first target is to strengthen our data-driven work. Imagine having easy access to data and efficient processing within a few clicks. This will empower our teams to make informed decisions swiftly and effectively.

    The second target is to provide common and connected tools and systems. Using integrated systems to foster collaboration among all European banking supervisors, we will create a cohesive working environment that allows everyone to work together smoothly.

    The third target is to ensure seamless access and navigation. By unifying access and identity management, we will make it easier for our staff to find and use the resources they need, free from technical obstacles.

    Lastly, we will establish common IT standards and delivery. By adopting consistent IT standards, we will drive rapid and user-friendly digital innovation, ensuring our technology keeps pace with the latest advances.

    Under the Olympus project we have set out the concrete action needed to reach these targets.

    What does this mean for Pete, though? Let me give you an example.

    Pete will be able to use the SSM Cockpit to navigate through supervisory tasks. The SSM Cockpit will provide a user-centric platform integrated with core systems to facilitate access and navigation to various tools and systems. By design, it will be a flexible solution that meets the diverse information and reporting needs of different supervisory roles. The Cockpit will feature advanced, AI-powered capabilities to help supervisors efficiently carry out their core tasks.

    Generating new insights through supervisory analytics

    Supervisory analytics are the second cluster under the technology pillar. These seek to enhance risk assessment by augmenting analytical capabilities and combining structured and unstructured data. There is also a pressing business need to address emerging risks such as climate-related and environmental risks, as well as IT and cyber risks. To do so, we must explore new datasets and information sources, including social media. Supervisory analytics will give Pete and his colleagues new insights which will help them stay ahead of emerging risks and provide more robust and timely risk assessments.

    We have been working on a tool called Delphi which uses natural language processing to integrate market risk-based indicators and information from news items into a single web-based platform with a user-friendly interface. The insights afforded by combining such quantitative and qualitative information mean that supervisors like Pete can adequately assess the underlying risks and better understand the real-time risk development affecting individual banks.

    Automating processes by harnessing AI

    Our third and last cluster under the technology pillar concerns process automation and collaboration. Think about how the automotive industry is being transformed by smart manufacturing. In a smart factory, machines, devices and systems are interconnected and can communicate with one another, enabling real-time data collection, analysis and decision-making. What can we learn from other industries to become more effective and efficient in our supervision?

    We are committed to delivering additional breakthrough solutions that use AI – and more specifically generative AI – to simplify and automate workflows, while improving collaboration within European banking supervision. For a while now, we have been harnessing AI and making it available in some of our tools, such as Athena, which helps supervisors analyse extensive textual information in various formats and languages, and Virtual Lab, a platform for SSM-wide digital collaboration as well as code sharing, cloud computing and the development of generative AI (GenAI) capabilities. We are also planning to deploy AI in the AFM Medusa project which will support our supervisors in drafting, consistency-checking and benchmarking findings and measures. Our vision is for supervisors to be increasingly empowered by GenAI, while remaining engaged in the process since they will be the ones who continue to review and approve work and take the final decisions. This technology will provide suggestions, assist in drafting input and help with analysis.

    To this end, we have been collecting use cases and are determining where it makes sense to implement European banking supervision-wide solutions, where specialised applications with narrower scopes and user groups are appropriate, and where off-the-shelf tools are sufficient. One of the solutions we have been working on is AthenaGPT, which complements Athena. Using AthenaGPT, supervisors like Pete are able to interact with several supervisory information sources at once. This boosts efficiency, as supervisors can then focus on the most relevant information. Searching for information in large supervisory repositories has never been easier. And in Agora, we are testing the ability for supervisors to query the data lake in English and use AI to translate into SQL, which is how the data can be accessed. This reminds me of how the work of my son is changing!

    Conclusion

    As you can see, we have ambitious plans for Pete and all our supervisors. Continuous investment in technology will remain key for ECB Banking Supervision to keep pace with changes in the banking landscape and address emerging supervisory risks.

    I am confident that we will be successful in this endeavour and that we will help Pete become a supervisor of the future: a strong SSM collaborator working in a single team with shared technology, an empowered data expert who bases decisions on advanced supervisory analytics and an agile supervisor making use of process automation and the latest technology.

    At the same time, I am incredibly proud of what we have already achieved. We have developed and fully implemented suptech tools that harness modern technologies such as AI across Europe. These tools have changed the way we do supervision. We have been surprised at how some of our tools have been received in our supervisory community. For example, we only expected to have around 200 users for Agora, the SSM single data lake. But we already have over 1,200 users, who have made over 1.6 million data queries using the tool. Our top innovation and collaboration tool, Virtual Lab, is being used by around 4,000 colleagues. And our network analytics tool, Navi, has now grown to cover almost a dozen major use cases. We have also trained almost 3,000 colleagues, including leaders, on topics related to innovation and digital transformation. This has helped broaden supervisors’ skillsets and established a mindset within our organisation that embraces technological change. Last, but not least, we have won four global innovation awards in three consecutive years.

    While we can be proud of these achievements, I believe that much remains to be done. There is a famous quote by the American sociobiologist Edward O. Wilson that continues to occupy my thoughts of late: “The real problem of humanity is the following: We have Palaeolithic emotions, medieval institutions and godlike technology.”

    You know that I spend a great deal of my waking hours thinking about the implications of the changing financial services environment we find ourselves in today. It’s an increasingly complex landscape, where we are facing geopolitical, climate and operational resiliency risks emanating from third party dependencies and cyber-attacks. We are facing changes to business models incorporating partnerships and responding to competition from and new entrants BigTech and FinTech. And the exponential growth of the global markets since the Great Financial Crisis in the interconnectedness of entities categorized as non-bank financial institutions with banks, especially private credit and equity funds operating outside the regulatory perimeter, is concerning, even worrying as we think about the effects on supervision and financial stability. Successfully connecting our technology and people to empower them in this changing landscape is essential.

    I would say that if we want to truly equip Pete for the future, it’s clear that our work has only just begun.

    Thank you very much for your attention. I hope you enjoy the rest of the conference.

    MIL OSI Global Banks –

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

    Source: WTO

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

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

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    MIL OSI Global Banks –