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APEC News

Buttigieg: Address Supply Chain Disruptions in Transportation and Connect Communities

Issued by the 11th APEC Transportation Ministerial Meeting

Detroit, The United States, 16 May 2023

The United States Secretary of Transportation Pete Buttigieg opened the APEC Transportation Ministerial Meeting on Tuesday by emphasizing the need to build stronger supply chains and significantly reduce greenhouse gas emissions in the transportation sector to create good jobs and economic growth that benefits everyone.

“We gather in the awareness that so many challenges to achieving prosperity in any economy are challenges facing every economy, and often such challenges have particularly great impact on the Asia-Pacific region and demonstrate the region's importance,” said Secretary Buttigieg in his opening remarks at the meeting.

“Pandemic driven supply disruptions, increasingly frequent extreme weather events, and economic inequality, these challenges don't just affect one economy while sparing the others, they affect us all,” added Secretary Buttigieg. “These challenges are often shared opportunities that grow even more promising through dialogue and exchange.”

He underscored the importance of supply chains resilience, highlighting that many economies are continuing to deal with major challenges to global supply chains and it is crucial to strengthen the region’s supply chains as this will ensure “that the flow of goods that powers our economies succeeds and protect peoples against the higher prices that come from disruptions.”

As he welcomed his counterparts to Detroit, a city with a transportation tradition dating back many generations, Secretary Buttigieg highlighted the city’s role in leading the automotive revolution and shaping the future of the automotive sector.

Secretary Buttigieg underlined the importance of a transportation system that empowers and unites communities by sharing an example of a project planned by the local community and supported by the US Department of Transportation to reconstruct and redesign a major highway in Detroit, Interstate 375, that was built in 1967 and cut off many communities from economic opportunities in the city.

“With help from USD100 million in funding from our department, the state and the city are acting to replace this highway with the boulevard that connects neighborhoods with safer walking bicycling and driving and fosters more economic growth that makes everyone better off.”

The two-day dialogue will hear how Ministers’ work to improve the functionality and resiliency of supply chains and how to better connect economy-level efforts to the APEC goals of regional connectivity to drive economic growth, opportunity and job creation.

Ministers will also discuss specific efforts and measures to accelerate low and zero-emissions transportation technologies in the region including the transition to electric vehicles, uptake of sustainable aviation fuels and the rollout of green maritime technologies and fuels—all of which can create good-paying jobs while harnessing innovation.

“Detroit is known for putting the world on four wheels. It is also the city where auto unions took form and helped to create a middle class of workers that remains a backbone of US economic prosperity,” Secretary Buttigieg continued.

“We carry that lesson forward to today as we plan for the future,” he concluded. “I know we will approach these coming days with openness and with ambitions to match the scale of opportunity and transportation and I'm deeply optimistic about the work we will do to make our people's lives safer fairer and more prosperous.”

Earlier on Monday, APEC Transportation Ministers discussed electric vehicle financing with the Detroit Mayor Mike Duggan as well as with leaders representing the auto industry, workers, the charging and banking industry and the Federal Highway Administration.  

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For further details, please contact:

Masyitha Baziad +65 9751 2146 at mb@apec.org
Michael Chapnick +65 9647 4847 at mc@apec.org

AHEPA newest

American Hellenic Educational Progressive Association

For Immediate Release | May 16, 2023

Contact: AHEPA Headquarters Phone: 202.232.6300 E-mail: ahepa@ahepa.org Archbishop Elpidophoros Proclaims May 21 as AHEPA Sunday

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WASHINGTON, DC --  His Eminence Archbishop Elpidophoros of America has proclaimed May 21, 2023, as "AHEPA Sunday" in the Greek Orthodox Archdiocese of America. The Encyclical, issued by Archbishop Elpidophoros, states:  "The Greek Orthodox Archdiocese of America celebrates the achievements and goals of the American Hellenic Educational Progressive Association. Therefore, we enjoin this annual observance of AHEPA Sunday, a true cultural partner to the Church for over one hundred years. As is well known, both the Archdiocese and AHEPA were founded in 1922, and have grown up together in the American milieu working for many common purposes. "I hope that every parish across our Nation will take time to honor their local AHEPA chapter. Together, we are one Church, one Omogeneia, one family. AHEPA is a true partner with the national and local Church, and they are our brothers and sisters in the risen Christ. "Therefore, I encourage every parish to celebrate with all worthiness AHEPA Sunday, and to recognize the amazing work and accomplishments that the AHEPA family has wrought for our community. We bless their endeavors and wish them much success in all their undertakings, which greatly benefit the Omogeneia and the Church." Encyclical (English) Encyclical (Greek) "We also sincerely appreciate the blessings Archbishop Elpidophoros has bestowed upon the AHEPA family and our members for today, AHEPA Sunday," Supreme President Jimmy Kokotas said. "The AHEPA family cherishes the close ties and shared history it has with the Greek Orthodox Archdiocese of America. From Saint Photios National Shrine, Saint Basil Academy, and Saint Nicholas Greek Orthodox Church and National Shrine; to scholarships for seminarians and groundbreaking memberships in Leadership 100 and the Ecumenical Patriarch Bartholomew Foundation; to the support of parishes, including their establishments, by local AHEPA chapters dating to the 1920s, we are proud to have walked together, side-by-side, for a century.

Think Tank reports on the invasion of Ukraine

 

Library blog Monday 15 May 2023

 

27.4.2022

Just over two months since the invasion of Ukraine, analysis by think tanks includes Russia’s actions and the foundations of the war, the heightened stakes with the new offensive in east and south-east Ukraine, how the West can manage escalation, the new European security architecture, Russia’s information warfare, violence against women as a weapon of war, accountability for the atrocities committed, the influx of refugees from Ukraine, possible socio-economic consequences for the EU, the impact of sharp increases in food and energy commodities, especially in Africa, and the positioning of China, ASEAN countries, Turkey, Iran and Venezuela.

OŚRODEK STUDIÓW WSCHODNICH (CENTRE FOR EASTERN STUDIES)

Terror, pacification, occupation. Russia’s actions in the occupied territories of Ukraine

The article looks at the actions taken by Russia in order to maintain control over the invaded territories of Ukraine, arguing that the Kremlin did not have a plan for the rapid development of the occupied land or for dealing with the civilians in a manner that would have effectively ensured their support. It led to brutal pacification, inept occupation and terror in the seized territories.

CENTRE FOR STRATEGIC AND INTERNATIONAL STUDIES

Russia’s war in Ukraine: identity, history, and conflict

AGRICULTURE AND RURAL DEVELOPMENT Sheep meat newsletter

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Agricultural markets dashboard – sheep meat View the latest update Related links EU Lamb, mutton and goatmeat policy | EU agriclutural markets short-term outlook – meat products Milk and dairy products newsletter Latest update Dashboard: Milk and dairy products Highlights EU butter prices: 465 €/100 kg, -0.5% in last 4 weeks; EU SMP prices: 246 €/100 kg, +1.9% in last 4 weeks; EU WMP prices: 341 €/100 kg, +0.5% in last 4 weeks; EU cheddar prices: 373 €/100 kg, -5.6% in last 4 weeks; Increase of IT spot milk price at 43.3 c/kg (14 May);

 

17/05/2023 17:00 | Article Ecofin adopts stricter rules to prevent tax fraud in the field of crypto-assets The Economic and Financial Affairs Council (Ecofin) has agreed its position on amending the Directive on Administrative Cooperation in the field of taxation (DAC8). The amendments include strengthening information exchange between tax authorities to make it more difficult for private individuals and businesses to circumvent tax regulations using crypto-assets. This decision was taken at the Ecofin meeting in Brussels on 16 May. Ecofin adopts stricter rules to prevent tax fraud in the field of crypto-assets Article 17 May 202317:00 Ecofin adopts stricter rules to prevent tax fraud in the field of crypto-assets Elisabeth Svantesson, Swedish Minister for Finance© Josefine Stenersen/Government offices The Economic and Financial Affairs Council (Ecofin) has agreed its position on amending the Directive on Administrative Cooperation in the field of taxation (DAC8). The amendments include strengthening information exchange between tax authorities to make it more difficult for private individuals and businesses to circumvent tax regulations using crypto-assets. This decision was taken at the Ecofin meeting in Brussels on 16 May. Today we are strengthening the rules for administrative cooperation and closing loopholes that have previously been used to avoid taxation of income. This was one of the Swedish Presidency’s most prioritised issues to pursue in the first half of the year.Elisabeth SvantessonMinister for Finance The amendments to the Directive include introducing new requirements for tax authorities in the EU to gather information on trade and transactions with crypto-assets, and automatically share this information with other tax authorities in the EU. “This reduces the risk of crypto-assets being used as a safe haven for tax avoidance and tax fraud,” says Ms Svantesson. The proposal also means that information on certain wealthy individuals’ advance tax rulings will be included in the automatic information exchange in the field of taxation. The aim is to make it easier to detect particularly aggressive tax-planning practices. The amendments to the Directive are part of the EU’s consultation procedure. This means that the European Parliament can present its position, but it does not have the legislative power to amend the proposal. The final outcome of this legislative process is decided by Member States in the Council, by unanimity. More information on the meeting of the Economic and Financial Affairs Council on 16 May Economic and Financial Affairs Council - Council website Economic and Financial Affairs Council - Sweden2023.EU

EUROGROUP-COUNCIL OF THE EUROPEAN UNION latest

 

Meetings Monday 15 May 2023

● Eurogroup   15/05/2023 22:45 | MEETING | Main results - Eurogroup, 15 May 2023   The Eurogroup discussed macroeconomic developments in the euro area and structural challenges for the corporate sector in the context of heightened geopolitical tensions. Ministers also exchanged views on the banking and capital markets unions and took stock of progress on the digital euro project.

Meetings

Eurogroup
Eurogroup, 15 May 2023

Highlights from the Eurogroup meeting held in Brussels on 15 May 2023
Main results
Macroeconomic developments in the euro area

The Commission presented its Spring Economic Forecast to the Eurogroup. On this basis, the Eurogroup exchanged views on the economic prospects and challenges for policy coordination going forward.



Overall, the picture is still one of economic resilience within the euro area. However, also one where our growth is continuing to hold up at a level that is better than we would have expected. At the same time, inflation is still too high and it needs to come down. We acknowledged that what continues to be so important to our societies is the level of employment, which is a real bright spot where you see a record number of people at work.Paschal Donohoe, President of the EurogroupSpring 2023 economic forecast (European Commission)
Corporate sector: structural challenges ahead in the context of heightened geopolitical tensions

On the basis of a Commission note, ministers discussed the challenges facing the euro area corporate sector in the context of heightened geopolitical tensions.

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Biodiversity finance: how to turn investing in nature into a sustainable business




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Board of Governors Opening Session



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Our food: go green and digital with the private sector



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Digital dividends: is technology the key to financial inclusion?


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Central Asia: on the road to sustainable energy




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Mobilising private capital via financial markets in Central Asia: rising to the challenge



Opening local financial markets to international capital while ensuring economies remain resilient to global pressures is a fundamental challenge. Last year, emerging economies were reminded of the vulnerabilities associated with investment flow volatility as surging global interest rates and the dollar’s rapid appreciation led to the withdrawal of a record US$ 70 billion from emerging-market bond funds in the first three quarters of 2022.
Uzbekistan investment outlook



In 2022 the EBRD invested almost US$ 900 million in 26 projects in Uzbekistan, making it the leading recipient of its funding in Central Asia for the third year running. This is recognition of the country’s growing investment attractiveness and favourable regulatory environment, which have allowed the Bank to finance a number of major projects, including some of the largest renewable energy projects in the region.
War and post-war economics: lessons for Ukraine



Policymakers and investors need to be aware of the short and long-term challenges Ukraine faces during the war and those that the country will have to deal with in the post-war period.