BUSINESS SERVICES : View Posts

What does an improved safety culture have to do with making hiring easier and faster? A lot, it turns out, if you work at NIST. In the spring of 2014, Paul O’Neill, former CEO of Alcoa and U.S. Treasury Secretary from 2001-2002, spoke to the NIST community about the “theoretical limit” for safety. He explained that when an organization’s culture focuses on safety and everyone doing the right things, the theoretical limit for safety incidents is zero. This is pretty easy to understand and straightforward: doing the right safety things ensures that no one gets hurt at work.

This got our Office of Human Resources (HR) Management staff thinking: what’s the theoretical time limit for a successful and compliant federal hiring action under current authorities? If everyone was on board with doing the right HR things, could we make hiring faster? After some research and assessing our own hiring data, we concluded that the theoretical limit for a NIST hiring action, depending on recruitment type, could be as fast as 12 to 20 days. We then started asking: How do we move from where we are now to that theoretical limit? And, would everyone get on board with doing the right things to achieve that speed? The answer was a resounding yes. We shared the theoretical limit analysis with our customers and they agreed that if we improved technology and made HR things easy to do correctly, hiring managers would be on board. This “yes” allowed the HR staff, our IT partners and our customers to start our journey toward faster and easier hiring.

On November 17, 2016, after a six-month development window and six-month pilot with one of NIST’s research laboratories, we fully deployed a new IT application called HR STAT (Submission, Tracking and Analytics Tool). Knowing we needed HR STAT to work for all of NIST, the tool was developed, tested and deployed in partnership with our customers.

HR STAT allows customers to:

Submit requests for recruitment actions via an online portal;
Track the full progress of the request from initiation to new employee start date, including integration with the security process; and,
Know the expected start date of the selectee, based on a mutually agreed hiring timeline and built in timeliness targets.
Working in collaboration with our partners, HR designed the workflow to track an aggressive timeliness target (typically 35 days) for our mission-critical occupations at NIST—a first step in moving closer to the theoretical limit. The initial results are promising!

During the pilot phase, 20 cases were completed and our average timeliness was 58 days. In comparison, our average timelines for the 140 completed cases outside of the pilot was 66 days. Since full deployment, 52 cases have been completed in HR STAT; timeliness ranged from 12 to 49 with an average of 26 days. By comparison, in the first quarter of fiscal year 2016, average timeliness for the 125 completed cases prior to HR STAT was 73 days.

In addition to speed, customers have reported via survey, direct email and anecdote that the application is easy to use and that the transparency provided is excellent.

As we continue to use HR STAT, we expect the benefits to grow. Full transparency and access to real-time data allows both HR and clients to address process issues and training needs. HR STAT represents what we need to deliver to our clients: collaborative HR services that are easy, compliant and fast.

HR STAT is better HR through better IT and, for us at NIST, it represents significant progress toward that theoretical limit and overall operational excellence.

For more information on HR STAT, you may contact Susanne Porch, NIST’s HR Director, at Susanne.porch@nist.gov.

Nestlé companies in the U.S. affirmed their commitment to employees’ health and wellness today, including the opportunity to work in an environment where everyone feels empowered, appreciated and respected. Announced at the 4th annual Women Rule Summit, Nestlé and more than 40 private sector businesses took the White House Equal Pay Pledge to close the national pay gap.

In taking the pledge, each company cemented its belief that businesses must play a critical role in reducing the national pay gap and committed to:
Conducting an annual company-wide gender pay analysis across occupations;
Reviewing hiring and promotion processes and procedures to reduce unconscious bias and structural barriers; and
Embedding equal pay efforts into broader enterprise-wide equity initiatives, along with identifying and promoting other best practices that will close the national wage gap to ensure fundamental fairness for all workers.

Enhancing gender balance in our workforce is one of Nestlé’s core societal commitments, globally and in the United States. Gender equality is core component of this balance. “When we treat our employees with respect and compensate them fairly and equitably for their contributions throughout their careers, it empowers every employee to innovate and excel,” said Judy Cascapera, Chief People Office at Nestlé USA. “Nestlé believes that striving towards equal pay, fair hiring, retention and promotion practices, and investing in leadership and professional development opportunities for women is good for our people, our consumers and our business.”

Nestlé’s commitment to gender balance and addressing the national pay gap goes beyond a moment of in time to consider many factors that contribute to successful employee careers. Nestlé has committed to continue investment in programs including providing support for dual-career spouses as part of our International Dual Career Network, hosting networking events in conjunction with the Network of Executive Women Leadership Summit, continuing to find opportunities to publicly celebrate the accomplishments of our women executives throughout our businesses and encouraging eligible employees to take advantage of our Parent Support Policy, which offers up to 14 weeks of paid leave for primary caregivers with the option of extending unpaid leave up to six months.
Despite efforts to lower the barriers to equal pay, the reality is that, in 2014, the typical woman working full-time all year in the United States earned only 79 percent of what the typical man earned working full-time all year. This may have a negative impact on wellness, the economy and women’s advancement in the workplace. Ensuring fair pay can help businesses attract the strongest talent and not only narrow the gender pay gap, but also boost productivity and benefit our economy.

About Nestlé in the United States
Nestlé in the United States is committed to being a trusted leader in nutrition, health and wellness. Our diverse portfolio of food and beverage products provide nutritious options for every member of the family, including infants, toddlers, teens and adults, mature adults, and dogs and cats. Nestlé in the U.S. consists of eight main businesses: Nestlé USA, Nestlé Purina PetCare Company, Nestlé Waters North America, Nestlé Nutrition, Nestlé Professional, Nespresso, Nestlé Skin Health and Nestlé Health Science. Together, these companies operate in more than 120 locations in 47 states and employ over 51,000 people. The United States is Nestlé S.A.’s largest market with combined product sales in the United States totaling more than $26 billion in 2014.

At Nestlé, we believe that for our business to prosper in the long term, we must create value for our employees, customers, stakeholders, consumers and the communities where we live and work. Nestlé embeds Creating Shared Value (CSV) into every part of its business, from nutrition and wellness to environmental sustainability and responsible sourcing. For more information, visit: http://www.Nestléusa.com/creating-shared-value.

WASHINGTON – U.S. Secretary of Labor Thomas E. Perez issued the following statement about the October 2016 Employment Situation report released today:

“The American economy continued its solid recovery from the worst economic crisis of our lifetimes in October, with the addition of 161,000 jobs. All told, American businesses have added 15.5 million jobs since February 2010, and we are in the longest streak of overall job growth on record. Additionally, the unemployment rate ticked down slightly to 4.9 percent.

“Americans have been waiting for a meaningful raise for too long, and today’s report confirms what we’ve seen over the last year – that they are getting one. Wages are up 2.8 percent over the last 12 months, the largest increase since the Great Recession, and the current pace of wage growth is even faster.

“Indeed, we have come a long way since President Obama inherited an economy in freefall. In the three months before he took office, the labor market shed 2.3 million private-sector jobs. The unemployment rate was 10 percent at this time in 2009. The auto industry was on life support and some said, pull the plug. But thanks to the grit and determination of the American people and businesses – coupled with wise policy decisions from the Obama administration – our economy demonstrates its continued strength month after month. Consumer confidence is high and initial unemployment claims are low. Auto sales hit a record high in 2015, and we remain close to those levels in 2016.

“Though I am heartened by this latest report, I know we have more to do to sustain and scale the progress we’ve made. We can start by raising the federal minimum wage, which has been stuck at $7.25 an hour for too long. We can expand access to paid leave so people don’t have to choose between the job they need, and the family they love. We can invest in infrastructure to support our businesses and connect our country. These commonsense measures are essential to building an economy that works for everyone and making sure that prosperity is broadly shared.

Good afternoon. Thank you, John Micklethwait, for your kind introduction. I am pleased to be at the Inclusive Capitalism Conference once again—and in such illustrious company.

Henry Ford once said: “Coming together is the beginning. Keeping together is progress. Working together is success.” Likewise, the efforts of Lady Lynn de Rothschild and the coalition—in coming together, keeping together, and working together—are driving forward the critically important agenda of inclusive capitalism. I pay tribute to your vision and resilience.

This past weekend the IMF had its Annual Meetings, with our 189 member countries, and the state of the global economy took center stage. While the outlook remains subdued, the mood was resolute.

We are stuck in a protracted period of low growth: 2016 marks the fifth consecutive year with global GDP growth below its long-term average. Too many people feel left behind, questioning whether the economy is working for them. In some of the advanced economies in particular, a populist sentiment is growing that threatens to shift the needle against economic openness.

The fact is that growth has been too low, for too long, and is reaching too few. So we face a defining moment—and we must take decisive action to make globalization work—for everyone.

This will require pulling on all policy levers—monetary, fiscal, structural—to support demand, boost productivity, and reinvigorate trade. Investing in social safety nets, education, and retraining those affected by technological change are also key. Policymakers face a major challenge—and they cannot do it alone.

We need every creator of jobs and growth to step up. I am talking, of course, about business.

Business, after all, benefits from a more inclusive society because inclusion supports more durable growth and broader prosperity. I also believe that business is uniquely placed to support inclusion.

Some people are skeptical of the term “inclusive capitalism”—some see it as an oxymoron, others as PR to help companies seduce their consumers into buying their products and boosting their profits. Others call it a dangerous detour from free-market principles.

To respond, we must make the case that inclusion and durable growth are two sides of the same coin—we cannot have one without the other.

In that context, I will address three key roles of business: as leaders, as employers, and as innovators.

1. Leaders
First, how can business leaders support inclusion?

Undoubtedly, business has a long history of leadership on inclusion. Think, for example, of the philanthropic giving of pioneers like Andrew Carnegie and John D. Rockefeller. Think also of the architecture of the industrial towns developed in 19st century Europe, they demonstrated the spirit of inclusion.

In more recent years, however, we have seen a growing sense of public anger against “elites,” with the so-called “one percent” seen as prospering at the expense of the “99 percent.” Particularly since the global financial crisis, many corporate heads have faced accusations of taking unnecessary risks, behaving unethically, and failing to share the fruits of enterprise.

The combined effect has been an erosion of public trust in big business. A recent Gallup poll finds that trust in large U.S. companies has been stuck at a lowly 18 percent for a decade. [1] Trust in banks has fallen from 49 percent ten years ago to 27 percent today. [2]

It is often said that trust “arrives on foot, but leaves on horseback.” And yet, trust is set to become even more critical in the years ahead. A recent Deloitte survey revealed that over half of millennials will not work for an organization if they are concerned about its standard of conduct. [3]

When I addressed the inaugural conference on inclusive capitalism two years ago in London, I spoke—among other things—about the need to improve corporate behavior and culture. One of my main points was that leaders must be as serious about values as they are about valuation, and just as passionate about culture as they are about capital.

Indeed, while strong regulation is essential, leaders themselves must also step up in the effort to tackle unethical behavior. Partly it is a matter of responsibility—after all, the buck stops at the top. It is also about effectiveness. Research shows, for example, that a bank is more likely to have an ethical culture if its executive team sets a good example with their own behavior. [4]

Responsible corporate compensation is an essential element. An IMF study shows that while the level of executive compensation is not consistently related to banks’ risk-taking, the structure of compensation is. [5] By linking pay with long-term rather than short-term performance, risk can be reduced.

Beside reducing risk-taking through more responsible compensation, another key building-block in rebuilding trust is to stamp out tax evasion. Even a casual observer of the Panama and Bahamas Papers revelation can see that efforts to avoid tax not only erode trust, but also short-change society.

There are no reliable estimates of the amount of tax revenue foregone through accounts detailed in the Panama Papers—both legally through sophisticated planning and illegally through tax evasion. These revelations, however, clearly show that there is a great deal of both. The resulting revenue losses represent a missed opportunity for society—and for pro-growth investments like education, health, and the environment. An efficient and fair tax system is an essential part of the circle of reinvestment.

More broadly, in many countries the private sector can play an integral role in tackling corruption in the public sector. After all, for every bribe received by a public official, there is a bribe paid by the private sector. By taking themselves out of this equation, businesses can help to stem corrupt behavior by public officials—both at home and abroad. And tackling corruption is critical in the ongoing fight against poverty and excessive inequality that is being fought in so many parts of the world.

At the other end of the spectrum, those who wish to not only avoid wrongdoing but contribute to positive social change are attracted to the philanthropy that I mentioned earlier. Inevitably, this is partly about PR. Undoubtedly, it is also about responsibility—to give back and share the prosperity with those who have not been as fortunate.

At the leadership level, the Gates Foundation’s Giving Pledge is an excellent example of this—since 2010 more than $365 billion has been pledged by 139 high net-worth individuals in areas from information technology to education to healthcare. Many companies also quite rightly support their employees in making charitable donations—thereby helping those in need, restoring trust, and investing in their staff.

This brings me to a second key role for business in promoting inclusion—as employers.

2. Employers
The potential for enterprise to create—and sustain—employment is especially critical at a time when so many people find themselves out of work. Despite the improving jobs situation in some advanced economies, the ILO estimates total global unemployment at 199.4 million this year—rising to above 200 million next year.[6]

The hardship is widespread—cutting across regions, sectors, genders, and ages. Let me highlight two specific groups: women and young people.

The sad truth is that, compared to their male counterparts, women are both underemployed and underpaid. And yet, research by the IMF and others has uncovered multiple macroeconomic benefits of empowering women.

Narrowing the gender gap supports economic growth and diversification. It is associated with lower income inequality. And it enhances the bottom line: an IMF staff study found that adding one more woman on a corporate board is associated with between 8 and 13 basis points higher return on assets. [7]

At the IMF, we are incorporating policy advice on gender issues into discussions with many country authorities—and in some of our recent programs, such as with Egypt. What would I say to you, as advocates and employers?

As advocates, I would like your support for smart public policies. In emerging and developing countries, these include investing in girls’ education, promoting broader access to finance, and strengthening infrastructure. In advanced economies, they include removing secondary earner tax disincentives, providing affordable high-quality childcare, and funding paid parental leave. Removing legal obstacles to women’s economic participation—which exist in an astonishing 90 percent of countries—is also key.

The good news is that, as employers, you have significant scope to empower women. A supportive attitude to flexible working and parental leave can help more women combine job and family. So can efforts to facilitate childcare arrangements. Mentoring and coaching by female role models can help women perform and rise up.

In addition to women, we should also focus on youth. Tragically, the number of unemployed young people is projected to rise by 500,000 worldwide this year—to a total of 71 million. [8]

As you know, addressing the scourge of high youth unemployment requires a range of efforts. I would like to highlight just one: skills development.

An essential component of helping young people to prosper is ensuring they have the right skills for our globalized and rapidly changing world economy. Too often, however, there seems to be a disconnect between the skills young people have and what they need.

The World Economic Forum, for instance, has found that, on average, just two-thirds of young people’s human capital potential is utilized. [9] Another report, by McKinsey, suggests that young people and employers are on the same page about this: a majority of both groups doubt that new graduates are ready for entry-level jobs.[10] By collaborating more with education providers, the report suggests, employers can make a big difference.

As part of the IMF’s ongoing surveillance and analytical work with our members, the IMF touches on these kinds of issues. Here in the U.S., for example, the Fund has been calling for more vocational education—including by expanding partnerships between industry and higher education institutions. [11] We have also called for an increase in the federal minimum wage—another key element in supporting inclusion.

In unleashing the potential of all those who feel excluded, one of the keys is to better equip people to thrive in the digital age, helping them adapt to a changing world of work. To use an ancient Chinese proverb, “When the winds of change blow, some people build walls and others build windmills.”

3. Innovators
Which leads to my third key role for business: in promoting inclusion through technological innovation.

The relationship between technology and inclusion is a matter of vigorous debate. Some studies suggest that technological innovation can exacerbate inequality—with robots reducing people’s pay, or even taking their jobs.

These concerns are not new—as the 19th Century Revolt of the Canuts in France and the Luddite resistance in Britain to the Industrial Revolution — attest. Nowadays, people who worry about new technologies are often dismissed as living in the past. That would not be fair; such concerns must be addressed seriously—for example, by investing in skills and social safety nets.

We must also, however, appreciate the positive side of technological innovation. If harnessed, it has the potential to support inclusion, creating opportunities for people to participate more in the economy and reap more of the rewards. Think, for example, of the so-called “app development” or “gig-economy.” While by no means perfect, it is removing many people’s reliance on traditional business structures, creating new opportunities for millions of individuals to realize their potential.

For me—and the IMF—one form of technological change that holds great promise relates to financial inclusion. Expanding access to financial services can undoubtedly support economic development. This is no platitude. It is based on empirical evidence—including the IMF’s unique global database on financial inclusion, the Financial Access Survey. [12]

More than 60 countries—from India to Peru—have adopted strategic plans to expand financial inclusion. But while governments can create an enabling environment—including consumer protection laws and financial education—it is the private sector that ultimately must harness the technology.

One innovation with dramatic potential is digital finance. Across much of sub-Saharan Africa, for example, it is much easier to bank on a phone than in the nearest town. In 15 countries of the region, the number of mobile money accounts exceeds the number of depositors in commercial banks. Kenya’s mobile payment service, M-PESA, is a well-known standard-bearer for mobile banking. Operated through a private telecommunications provider, it offers nationwide coverage independent of traditional banks. And one added bonus: it helps expand women’s access to finance.

Expanding financial services also requires tailoring products to consumers’ circumstances. In Mexico, for instance, a large consumer retailer opened a bank in 2012—specifically aimed at serving the unbanked. By analyzing the parent company’s data, they were able to require less documentation to open an account than banks typically needed. Thousands of people opened bank accounts; research indicates that employment and income levels also increased.

In Chile, too, supermarket chains are gradually building credit histories for their unbanked customers. They start with small amounts of store credit, then expand it based on repayments—incrementally widening access to credit.

These are just a few examples of financial empowerment in action. In this way, and others, innovation and inclusion can go hand-in-hand.

Conclusion

To conclude, as we seek to pull the world economy out of what I have called “the new mediocre,” efforts to lift growth and support inclusion are critical, complementary priorities. Alongside stronger policies, the role of business is key. Enterprise not only benefits from greater inclusion, but is uniquely placed to support it—leading, employing, innovating.

Taking the next step on inclusive capitalism calls for decisive measures: not just promises but action. The ball is in your court.

Let me conclude with the words of President Woodrow Wilson:

“Y ou are not here merely to make a living. You are here in order to enable the world to live more amply, with greater vision, with a finer spirit of hope and achievement. You are here to enrich the world, and you impoverish yourself if you forget the errand.”

Thank you.

On 28 October 2016, the Council adopted by written procedure a package of decisions on the comprehensive economic and trade agreement with Canada (CETA), including:

a decision on signature of the agreement
a decision on the provisional application of the agreement
a decision to request the consent of the European Parliament for theconclusion of the agreement
The representatives of the member states also adopted a joint interpretative instrument. This instrument, which is a joint text with Canada, will provide a binding interpretation of CETA´s terms on specific issues.

“I am delighted to confirm that the EU is ready to sign the comprehensive economic and trade agreement with Canada. It represents a milestone in the EU’s trade policy and our commitment to it” said Robert Fico, Prime Minister of Slovakia, currently holding the EU Council presidency. “The CETA represents a modern and progressive deal, opening the door to new opportunities, while protecting important interests. Moreover, it has the potential to set the way forward for future trade deals.”

CETA will remove more than 99% of tariffs that are currently imposed on trade between the EU and Canada. It sets high standards for consumer, environmental and labour protection.

The agreement includes provisions on market access for goods, services, investment and government procurement, as well as on intellectual property rights, sanitary and phytosanitary measures, sustainable development, regulatory cooperation, mutual recognition, trade facilitation, cooperation on raw materials, dispute settlement and technical barriers to trade.

The negotiations with Canada were conducted on the basis of a mandate agreed by the Council in 2009. Following a Council decision in September 2011, talks on investment protection were also started within the CETA framework.

On 5 July 2016, the Commission proposed that the deal be signed and concluded as a “mixed” agreement. This means that on the EU side, it must be signed by both the EU and the member states, and ratified by all relevant national and regional parliaments.

The agreement will be applied on a provisional basis once the European Parliament has consented to its conclusion, pending ratification by all of the member states. Provisional application will concern essentially the provisions of EU exclusive competence.

Strategic partnership agreement
The Council has also adopted a decision on the signing and provisional application of a strategic partnership agreement between the EU and Canada. This agreement seeks to deepen political dialogue and cooperation between the EU and Canada and will strengthen relations in fields such as human rights, international peace and security, economic and sustainable development, justice, freedom and security.

San Francisco, – The World Economic Forum today announces the opening of its new Center for the Fourth Industrial Revolution in San Francisco. The Center will serve as a platform for interaction, insight and impact on the scientific and technological changes that are changing the way we live, work and relate to one another. It is the first permanent, globally active office of an international organization in the Bay Area.

“Given the accelerating change brought on by innovation, continuous public-private cooperation on a global level is needed more than ever,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, ahead of the opening in San Francisco. “This is the purpose of our Center for the Fourth Industrial Revolution in San Francisco, which will serve as a global platform for dialogue and collaborative action on the most important questions related to the impact of emerging technologies.”

The Center will bring together entrepreneurs, start-ups, investors, businesses, regulators, policy-makers, international organizations, NGOs and academia from all over the world. It aims to develop a common understanding of the disruptive technologies and scientific advances affecting the economy and society, and facilitate the development of policy frameworks and norms to govern them.

The opening today will be attended by more than 200 representatives from the private and public sector, academia and NGOs. It will include a panel on the Fourth Industrial Revolution and its implications for Business, Government, the Individual and Society, featuring Marc Benioff, Chairman and Chief Executive Officer of Salesforce, and member of the World Economic Forum Board of Trustees; Penny Pritzker, United States Secretary of Commerce; Bernard J. Tyson, Chief Executive Officer of Kaiser Permanente; and Mike Wirth, Executive Vice President of Chevron. The panel is on the record and can be viewed here as of 16.00 Pacific Time.

“The San Francisco Bay Area is the center of technology innovation, with an amazing community of entrepreneurs, business leaders and thought leaders who are paving a way forward,” said Benioff ahead of the panel. “The Center for the Fourth Industrial Revolution can serve as an essential platform where some of the brightest minds can help understand the trends shaping our world and navigate the future.”

The Center will focus on technologies, concepts, scientific developments and new business models such as artificial intelligence and robotics, precision medicine, blockchain, drones and their civilian use, autonomous vehicles, 3D printing, and the role of the individual in the era of big data, the internet of things and artificial intelligence. It will also advance Forum projects such as industrial internet of things safety, digital trade, advancing the shared economy and project-based workforce, and harnessing Fourth Industrial Revolution technologies and innovation to improve global ocean health, management and governance.

The Center will be led by Murat Sönmez, Chief Business Officer and Member of the World Economic Forum Managing Board, who joined the Forum in 2014 after having spent 25 years in Silicon Valley.

World trade will grow more slowly than expected in 2016, expanding by just 1.7%, well below the April forecast of 2.8%, according to the latest WTO estimates. The forecast for 2017 has also been revised, with trade now expected to grow between 1.8% and 3.1%, down from 3.6% previously. With expected global GDP growth of 2.2% in 2016, this year would mark the slowest pace of trade and output growth since the financial crisis of 2009.

The downgrade follows a sharper than expected decline in merchandise trade volumes in the first quarter (-1.1% quarter-on-quarter, as measured by the average of seasonally-adjusted exports and imports) and a smaller than anticipated rebound in the second quarter (+0.3%).

The contraction was driven by slowing GDP and trade growth in developing economies such as China and Brazil but also in North America, which had the strongest import growth of any region in 2014-15 but has decelerated since then.

WTO Director-General Roberto Azevêdo said:

“The dramatic slowing of trade growth is serious and should serve as a wake-up call. It is particularly concerning in the context of growing anti-globalization sentiment. We need to make sure that this does not translate into misguided policies that could make the situation much worse, not only from the perspective of trade but also for job creation and economic growth and development which are so closely linked to an open trading system.

“While the benefits of trade are clear, it is also clear that they need to be shared more widely. We should seek to build a more inclusive trading system that goes further to support poorer countries to take part and benefit, as well as entrepreneurs, small companies, and marginalised groups in all economies. This is a moment to heed the lessons of history and re-commit to openness in trade, which can help to spur economic growth.”

The latest figures are a disappointing development and underline a recent weakening in the relationship between trade and GDP growth. Over the long term trade has typically grown at 1.5 times faster than GDP, though in the 1990s world merchandise trade volume grew about twice as fast as world real GDP at market exchange rates. In recent years however, the ratio has slipped towards 1:1, below both the peak of the 1990’s and the long-term average.

If the revised projection holds, 2016 will be the first time in 15 years that the ratio between trade growth and world GDP has fallen below 1:1. Historically strong trade growth has been a sign of strong economic growth, as trade has provided a way for developing and emerging economies to grow quickly, and strong import growth has been associated with faster growth in developed countries. However the increase of the number of systematically important trading countries and the shift in the ratio of trade and GDP growth makes it more difficult to forecast future trade growth. Therefore, the WTO is for the first time providing a range of scenarios for its 2017 trade forecast rather than giving specific figures. As Chart 1 below shows, the current trend in the relationship between trade growth and world GDP is lower than observed over the last three decades.

Since the WTO’s April 2016 forecast was issued, some important downside risks have materialized, most notably a period of financial turbulence that affected China and other developing market economies early in the year, but which has since eased. Recent movements in trade by level of development are illustrated by Chart 2, which shows seasonally-adjusted quarterly merchandise trade indices in volume terms (i.e. adjusted to account for fluctuations in prices and exchange rates.)1

Import demand of developing economies fell 3.2% in Q1 before staging a partial recovery of 1.5% in Q2. Meanwhile, developed economies recorded positive import growth of 0.8% in Q1 and negative growth of -0.8% in Q2. Overall, world imports stagnated in the first half of 2016, falling 1.0% in Q1 and rising 0.2% in Q2. This translated into weak demand for exports of both developed and developing economies. For the year-to-date, world trade has been essentially flat, with the average of exports and imports in Q1 and Q2 declining 0.3% relative to last year.

These results are largely in line with the signals given by the WTO’s World Trade Outlook Indicator (WTOI), a new tool launched in July to provide “real time” information on trends in global trade. At that time the WTOI indicated that world merchandise trade might rebound in Q2 but would likely remain below trend.

The stagnation of world merchandise trade disguises strong shifts at the regional level, which are illustrated by Chart 3. The most striking feature of this chart is the steep decline in imports of resource-exporting regions over the last two years, driven by falling commodity prices and declining export revenues. South America and Other regions (comprising Africa, the Middle East and the Commonwealth of Independent States) arrested their declines in Q2 of 2016 while imports of North America and Europe both dipped in the latest quarter. Meanwhile, Asian imports declined by 3.4% in Q1 against a backdrop of concerns about slowing growth in China, before rebounding to 1.3% growth in Q2 as these concerns eased. The 3.3% decline in Asian exports in Q1 mirrored the drop in Asia on the import side, but this was mostly reversed by a 3.2% rise in exports in Q2.

There are some indications that trade may be picking up in the second half of 2016, although the pace of expansion is likely to remain subdued. Container port throughput has increased (Chart 4), export orders have risen in the United States, and nominal trade flows in US dollar terms have stabilized, but numerous risks remain.

The outlook for the remainder of this year and next year is affected by a number of uncertainties, including financial volatility stemming from changes in monetary policy in developed countries, the possibility that growing anti-trade rhetoric will increasingly be reflected in trade policy, and the potential effects of the Brexit vote in the United Kingdom, which has increased uncertainty about future trading arrangements in Europe, a region where trade growth has been relatively strong.

The UK referendum result did not produce an immediately observable downturn in economic activity as measured by industrial production or employment; the main impact was a 13% drop in the exchange rate of the pound against the US dollar and an 11% decline in its value against the euro. Effects over the longer term remain to be seen. Economic forecasts for the UK in 2017 range from fairly optimistic to quite pessimistic. Our forecast assumes an intermediate case, with a growth slowdown next year but not an outright recession.

Exports of developed countries are expected to outpace those of developing economies this year, 2.1% compared to 1.2%. On the import side, developing countries are expected to register sluggish growth of 0.4% compared to 2.6% for developed countries..

The biggest downward revision to imports from our April forecast for 2016 applies to South America (-8.3% compared to -4.5% previously) as the recession in Brazil intensified. This was followed by North America, where import growth was revised down from 4.1% to 1.9% as GDP growth came in below earlier projections. Asian import growth was also scaled back to 1.6% from 3.2%, while our forecast for Europe was revised upward from 3.2% to 3.7%.

Export growth in 2016 was downgraded for most regions, with the strongest revisions applied to Asia (0.3% compared to 3.4% in April) and North America (0.7% compared to 3.1%). Meanwhile, South America’s export growth is expected to be stronger than previously forecast (4.4% compared 1.9%), benefitting from favourable exchange rate movements. Even with the downward revision to our estimates, risks to the forecast remain mostly on the downside.

A range of estimates have been provided for 2017 to reflect the increasingly uncertain relationship between trade and output growth. World trade growth could be as high as 3.1% next year if it regains some of its earlier dynamism. However, it could also be as low as 1.8% if the ratio of trade growth to GDP growth continues to weaken.

Estimates of export growth range from 1.7% to 2.9% for developed countries and from 1.9% to 3.4% for developing economies in 2017. On the import side, developed countries could see trade growth of between 1.7% and 2.9% while developing countries expand by between 1.8% and 3.1%.

A number of reasons have been advanced to explain the decline in the ratio of trade growth to GDP growth in recent years, including the changes in the import content of demand, absence of trade liberalization, creeping protectionism, a contraction of global value chains (GVCs), and possibly the increasing role of the digital economy and e-commerce, but all have likely played a role. Whatever the cause, the recent run of weak trade, and economic, growth suggests the need for a better understanding of changing global economic relationships. The WTO, and other international organizations, are working hard to understand this current evolution and its implications for continued growth.

COLOMBO, — In keeping pace with global trends, the World Bank unveiled today a new Procurement Framework to help its partner countries in South Asia that procure goods and services under Bank-financed projects make the best use of their public spending, strengthen their national procurement policies, and improve their development objectives.

The new Framework was introduced at an event, a joint initiative with the Ministry of Finance held at MILODA- Academy of Financial Studies, in Colombo Sri Lanka, and presented by Felipe Goya, World Bank Manager for Solutions and Innovations in Procurement for South Asia, and Robert Hunja, World Bank Director, Governance Global Practice, in the presence of Priyanga Algama, Director General, Public Finance, Government of Sri Lanka, public sector officials, development partners, finance students, and World Bank staff.

The new Procurement Framework will allow the World Bank to better respond to the needs of its client countries, while preserving robust procurement standards throughout Bank-supported projects.

“We are committing to put our resources and energy to help our clients and development partners to focus on outcomes rather than rules and procedures,” said Hunja.

South Asia is pioneering the use of the more flexible, efficient, and transparent procurement framework: the North Eastern Region Power System Improvement Project (NERSIP) in India, which was approved by the World Bank Board in July 2016, is the first project to follow the Bank’s new Procurement Framework. Projects planned in Sri Lanka will soon be benefitting from the policies of the new framework.

“Procurement in Investment Project Financing supports the clients to achieve value for money with integrity in delivering sustainable development” said Felipe Goya while detailing the 6 core principals governing the framework: value for money, fit-for-purpose, economy, efficiency, integrity, transparency and fairness.

The new Framework enables the Bank to work more closely with country partners in improving their own procurement systems. Furthermore, under this framework, clients can use the procurement arrangements of other multilateral development partners or of national agencies in some circumstances.

The new Framework will include an online tracking and monitoring tool Systematic Tracking of Exchanges in Procurement (STEP) to speed up procurement processes, while promoting transparency and accountability and facilitate procurement-related complaints.

The World Bank’s Board of Executive Directors initially approved this new policy framework in July 2016. It governs procurement in Bank-financed projects in 172 countries worth about USD 56 billion. This new Framework is a result of an extensive review and three-year consultation process involving more than 5,000 people in 100 countries including partner countries, CSOs, and private sector.

Brussels, 22 August 2016 – The EU today requested the establishment of a WTO panel to rule on a dispute concerning Colombia’s discriminatory treatment of imported spirits.

The EU and Colombia held consultations earlier in the year (8-9 March 2016), however consultations failed to reach a solution to the dispute. While the EU recognizes Colombia’s efforts to bring about reform in the spirits’ regime since the initiation of the dispute, EU spirits continue to be discriminated in the Colombian market.

The EU’s concerns about discrimination of EU spirits in the Colombian market are longstanding. EU spirits are subject to higher taxes and local charges than those applied to local brands. In addition, market restrictions apply in the departments or local subdivisions of Colombia. The departments impose market-access restrictions that distort the competitive conditions in the market to the detriment of EU spirits. This is in contravention of Colombia’s non-discrimination obligations under WTO rules.

Under the bilateral Trade Agreement with the European Union, Colombia committed itself to ending the discrimination by 1 August last year. The EU has raised the issue with Colombia on numerous occasions, including in bilateral meetings, WTO meetings and OECD membership discussions. The European Union continues to support Colombia’s efforts to bring about reform in this sector.

Trade facts and figures
The EU is the number one exporter of spirits to the Colombian market and, as a result, the trading partner most affected by these measures (followed by Mexico, Costa Rica and the United States). In 2014, EU exports of spirits to Colombia – valued at €43 million – represented approximately 14% of total agricultural exports to Colombia and 77% of total Colombian imports of spirits. Within the different spirits exported by the EU to Colombia, whiskies represent the highest shared (€36 million) followed by liqueurs and cordials (€4 million). Colombia produces mainly rums and aguardientes, which account for 83% of spirits consumption in Colombia in 2013 figures (10.8 million 9LC[1], in comparison with 2.3 million cases of imported spirits).

The national consumption tax on spirits was split in two tax brackets in 1995 and has been ‘specific’ since 2002 (Law no 788 of 27 December 2002), meaning that the tax is calculated by percentage point of alcohol content per unit of 0.75 litres. An artificial breakup point is established at 35% of alcoholic content, with the result that most imported products fall into the higher taxation bracket, whereas most locally produced spirits fall into the lower taxation bracket. The situation is similar in the departments (departamentos) – administrative sub-divisions of Colombia – where a local charge is levied instead of the national consumption tax.

Moreover, in Colombia a number of departments exercise the so-called fiscal monopoly over the introduction and commercialisation of spirits. As a result, the entry of imported spirits is subject to the conclusion of ‘introduction contracts’ with the department that contain trade restrictive clauses, impose maximum values and minimum selling prices, and requiring traders to secure the payment of the amount of a future fiscal debt, etc. In addition, the departments enjoy great discretion to arbitrarily deny access to imported brands.

The European Union requested consultations with Colombia under the WTO on 13 January 2016 in DS 502, Colombia- Measures Concerning Imported Spirits; consultations were held on 8-9 March 2016 but failed to find a positive solution to the dispute.

Next steps in WTO dispute settlement procedures
The EU’s request for the establishment of a WTO panel will be discussed at the meeting of the WTO Dispute Settlement Body (DSB) of 2 September. If Colombia does not agree to the establishment of a panel at that meeting, the EU may table a second request at the following DSB meeting which, according to WTO rules, Colombia cannot block.

At any stage of dispute settlement procedures, Colombia can reform the spirits’ regime in Colombia and eliminate the discrimination of imported spirits, thereby prompting that a solution is found without necessarily waiting for adjudication by a WTO panel.

Further information
WTO dispute settlement in a nutshell:
http://ec.europa.eu/trade/policy/accessing-markets/dispute-settlement/

WASHINGTON – U.S. Secretary of Labor Thomas E. Perez issued the following statement about the July 2016 Employment Situation report released today:

“With the addition of 255,000 jobs in July, American businesses have created a total of 15 million jobs since February 2010. This month’s report confirms that the Great Recession is indeed in the nation’s rearview mirror – the economy has added jobs for 70 consecutive months, the longest streak on record. The unemployment rate in July held steady at 4.9 percent, down from 10 percent during the depths of the recession. Wages have risen 2.6 percent over the year. All in all, the July report indicates widespread growth and a strong, balanced recovery.

“Just seven years since the auto industry was on life support, auto sales remain near record highs. We have seen 74 consecutive weeks of initial unemployment claims at or below 300,000 – the last time we saw a streak like that was December 1973. Consumer confidence is strong.

“While this sustained progress is encouraging, we have more work to do to ensure that everyone gets a chance to share in this recovery. We must raise the federal minimum wage so that no one who works full-time in America lives in poverty. We must expand access to paid leave so that people don’t have to choose between the job they need and the family they love. We must continue to invest in our most precious natural resource – our human capital – so that everyone gets the skills and training they need to compete.

With fewer than 200 days left in this administration, we remain as committed as ever to ensuring that the prosperity we’ve created in the last eight years is sustained and broadly shared.”

MILWAUKEE, – Most employers across the globe plan to increase hiring over the next three months, though at a slightly slower pace than recent quarters. This is according to the latest Manpower Employment Outlook Survey, released today by ManpowerGroup (NYSE: MAN). Hiring confidence is strongest in India, Japan, Taiwan, Guatemala, Romania and the United States for the third quarter, with the weakest hiring forecasts being reported in Brazil, Italy and Switzerland.

Of the nearly 59,000 employers interviewed globally, 40 of 43 countries and territories anticipate increasing their staffing levels in Q3 2016. Compared to Q2 2016, hiring prospects strengthen in 14 of 42* countries and territories, are unchanged in 7 and decline in 21. Compared with last year at this time, outlooks improve in 13 countries and territories, weaken in 24 and are unchanged in 5.

“Stronger employer hiring intentions in most regions is certainly cause for optimism, though global growth is still below pre-recession levels,” said Jonas Prising, Chairman & CEO of ManpowerGroup. “The political uncertainty in Europe and the United States means employers are hesitant to significantly add to their workforce, but they do continue to hire at modest levels, and many are still experiencing difficulty finding in-demand skills. Meanwhile, the economic slowdown in China still casts a shadow over its trading partners and an otherwise mostly stable economic situation.”

Global Hiring Plans by Region
EMEA: Romanian employers report the region’s strongest third-quarter hiring plans, while the weakest outlooks are reported in Italy and Switzerland. For the first time in eight years, there are no negative national forecasts reported among countries in the EMEA region. The third-quarter survey also includes Portugal for the first time, with cautiously optimistic hiring forecasted in the next three months.

Asia Pacific: Job gains are expected in all eight countries and territories surveyed in the Asia Pacific region. For the fourth consecutive quarter, employers in India report the most optimistic regional and global hiring plans, while employers in China report the region’s weakest forecast.

Americas: Employers in Guatemala and the United States report the region’s most optimistic third-quarter hiring plans. The only negative forecast for the region (and of all countries included in the survey) is reported by employers in Brazil.

About ManpowerGroup ManpowerGroup® (NYSE: MAN) is the world’s workforce expert, creating innovative workforce solutions for nearly 70 years. As workforce experts, we connect more than 600,000 people to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2016, ManpowerGroup was named one of the World’s Most Ethical Companies for the sixth consecutive year and one of Fortune’s Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible: www.manpowergroup.com

The first Friday of every month is what we call Numbers Day – it’s the day that the Bureau of Labor Statistics releases the monthly jobs report. We have a ritual at the Labor Department – at 8 a.m. we gather around a table in my office, and the commissioner of labor statistics briefs me and the department’s senior leadership on the numbers.

We go through pages of charts and graphs, dissecting industry-level data, discussing how the weather or a holiday other economic factors, such as a major union strike, might have affected the numbers. We talk about what the numbers mean for the larger economy, and what they mean for working people.

Cable news talking heads and political pundits have a Numbers Day ritual, too – if the numbers are high, they say the American economy is booming. If the numbers are low, they proclaim that the recovery has come to a screeching halt.

That was the case last month. When May’s jobs report showed weaker than expected job growth, we heard the predictable claims that the economy had come to standstill, that American businesses and workers were doomed.

And it has been the case each of the eight times since 2011 that the numbers have come in below 100,000. Each time, the Eeyore caucus has declared that the sky is falling. And each time, they have been wrong.

As I said last month, one month does not make a trend – a fact proven by today’s jobs report. The American economy added 287,000 jobs in June. All told, since early 2010, American businesses have added 14.8 million jobs. The unemployment rate is 4.9 percent – down from 10 percent at the height of the recession.

Our economy is strong and resilient, growth is broad-based and I believe we’re well positioned to weather global headwinds. As the recovery continues, it is inevitable that the pace of job growth will slow – I don’t expect the total number for 2016 to be as high as 2015. At the same time, as we get closer to full employment, wage growth is likely to continue to pick up, providing a much needed boost to American families.

But my optimism about our nation’s economy isn’t based on the jobs numbers alone. A whole host of indicators show that we continue on an upward trajectory:

Weekly initial claims for Unemployment Insurance have been below 300,000 for 70 weeks – that’s the longest streak since 1973. In the depths of the recession, weekly claims were topping 600,000.
Consumer confidence is high – it was in line with pre-recession levels in June.
Consumer spending was up markedly in April and May, the latest data available.
The American auto industry has come roaring back from near death – 2015 saw record auto sales, and sales remain strong in 2016.
There were 5.8 million job openings in April. That means there are about 1.4 job seekers for every open position – compared to nearly 7 job seekers for every job in the depths of the Great Recession.

There’s no doubt that we have more work to do to grow America’s economy and make sure more people can share in the prosperity being created. Our economy is out of balance, with more and more families feeling like the middle class dream is out of reach. We have to take action to make sure the rising tide lifts all the boats, not just the yachts.

We need to raise the federal minimum wage, plain and simple. We need to do more to support working families, like guarantee access to paid sick and parental leave and make sure every parent has access to quality, affordable child care. We need to enact comprehensive immigration reform, to bring people out of the shadows and empower them to more fully and freely participate in their communities and the economy. And we need to invest in our nation’s deteriorating infrastructure – investments that would create jobs and benefit all sectors of the economy.

But to deny that our economy is strong and growing – whether for cable TV ratings or political purposes – is simply ignoring the facts.

Seven years ago we were down for the count. Today, we have made a remarkable recovery from the worst economic crisis in generations. I’m proud of the work we’ve done as a nation to get here – and I’m confident in our resilient economy, and the people who power it.

Brussels, The European Commission presents its vision on how European standard setting should evolve in the light of technological developments, political priorities and global trends.

It also announces next steps on the Joint Initiative on Standardisation (JIS), which aims to reinforce the partnership between the European institutions and the standardisation community.

From the A4 paper size to GSM technology, standards reduce costs, promote innovation, ensure interoperability between different devices and services, and help companies to access markets. Largely voluntary and industry-driven, European standards need to keep pace with the changing economy, the increasing importance of services, and the digital revolution. Today the European Commission has adopted a Communication, announced in the Single Market Strategy, to ensure that Europe remains a global hub for standardisation.

Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness, said: “If we want the European market to have the first-mover advantage, we need to speed up and better prioritise standard setting across the board. With today’s standardisation package, we are helping raise competitiveness, power innovation and create a predictable and stable investment framework in the EU.”

Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, added: “The Joint Initiative on Standardisation brings together public and private organisations in a collaborative, transparent and agile dialogue process to ensure the timely development of state-of-the-art standards in support of fast changing market needs and public policies.”

Often seen as merely technical issue, standards are important economic drivers. Today’s Communication presents a vision for a single and coherent EU standardisation policy which features higher on the political agenda and where the priorities are regularly discussed with the European Parliament and the Member States.

Today’s package includes a Commission decision providing the framework for the Joint Initiative on Standardisation (JIS), which will be formally launched by all partners on 13 June in Amsterdam under the Dutch Presidency of the EU. The JIS will bring together European and national standardisation organisations and bodies, industry, SMEs, consumer associations, trade unions, environmental organisations, Member States and the Commission. These partners will commit to modernising, prioritising, and speeding up the timely delivery of standards by the end of 2019. The JIS will better align standard setting priorities with research and innovation impetus, with support from the EU research and innovation programme Horizon 2020. The JIS will also promote the use of European standards at international level.

The proposal for a 2017 work programme for European standardisation identifies the services and ICT sectors as priority areas for future standard-setting, given their cross-cutting role in the economy. In April 2016, the Commission already proposed concrete measures to speed up the ICT standard setting process by focusing on five priority areas: 5G, cloud computing, internet of things, data technologies and cybersecurity. Now, the Commission recommends a renewed focus on the services sector.

While services account for 70% of the EU economy, service standards only account for around 2% of all European standards. The fragmentation of standards acts as a barrier to the cross-border provision of services. Complementing other initiatives under the Single Market Strategy to facilitate the cross-border provision of services, the Commission propose to prioritise and promote the targeted development of voluntary European service standards. Examples of services standards include terminology on hotels and other tourism accommodation.

Background
Standards are technical specifications for products, production processes, services or test-methods. Standards facilitate the interoperability of economic operators in the value chain. For example, the standards on paper sizes (A3, A4, A5) facilitate the interaction between consumers, paper and envelope manufacturers, printing houses and photocopier makers. A standard provides technical certainty, a pre-condition for economic operators to invest. For some products, such as airbags or surgical masks, standards also guarantee high quality and safety.

Standard setting in Europe is largely industry driven. While standards are developed by a standards organisation, the market may also simply adopt the technical specifications developed by one company or by professional organisations.

The modernisation of the standardisation system was announced in the Single Market Strategy and complements the Communication on ICT standardisation Priorities for the Digital Single Market adopted in April 2016.

SEATTLE– Amazon (NASDAQ: AMZN) today announced the launch of the Amazon Payments Partner Program, a new global program designed to help ecommerce platform providers and developers extend the trust and familiarity of Amazon Payments to their merchant customers. The Amazon Payments Partner Program offers unique tools and services to help Partners grow their merchant business by offering easy integration with Amazon Payments.

The Amazon Payments Partner Program includes solution pre-integration and best practices to help ensure that merchants receive the most effective solutions. Merchants will be eligible to receive exclusive benefits and services from the program such as knowledge-sharing and white glove integration services. The program is free to participate in and available by invitation in the United States, Germany, United Kingdom and Japan.

“The Amazon Payments Partner Program provides Partners with the tools and resources needed to extend the trust and convenience of the Amazon experience to their merchant customers,” said Patrick Gauthier, vice president, Amazon Payments. “We are working together across geographies and industries to help merchants grow and create experiences that delight customers throughout the shopping journey.”

The Amazon Payments Partner Program includes Premier Partner, Certified Partner, and Certified Developer levels, with distinct certified categories for ecommerce platform providers and developers. As members of the Amazon Payments Partner Program, Partners are eligible to receive account management, planning support, technical resources and training, Partner directory listing, Partner designation with exclusive logos, and certain Partners may also be eligible for co-marketing activities.

“The convenience and trust that Amazon Payments provides customers already attracts lots of our merchants. We are honored to participate in the Amazon Payments Partner Program,” said Yuko Hoshino, President of Future Shop Co., Ltd. “Together, we will support the growth of our merchant business and contribute to the revitalization of the ecommerce industry in Japan by combining the capabilities of FutureShop2 with the convenience of Amazon Payments.”

“Amazon Payments extends the trusted and familiar experience of Amazon to our merchants across Europe and the United States,” said Corinne Lejbowicz, CEO PrestaShop SA. “We’re excited to be a Premier Partner in Amazon Payments Partner Program as we provide our users with the tools and resources necessary to grow their business.”

“Our merchants want to offer their customers a payment solution that is trusted, easy and familiar,” said Brennan Loh, Director of Business Development at Shopify. “We’re excited to be a Premier Partner in the Amazon Payments Partner Program, enabling our merchants to offer Pay with Amazon.”

To learn more about Amazon Payments Partner Program, visit: https://payments.amazon.com/merchant/global-partner-program.

About Amazon
Amazon.com opened on the World Wide Web in July 1995. The company is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.

WASHINGTON, – The European Commission and the World Bank Group signed a Framework Agreement on Friday, 15 April 2016, to further their cooperation on the implementation of development projects across the globe. This agreement sets the terms under which the World Bank will disburse EU budget money on development projects on the ground.

World Bank Vice President Axel van Trotsenburg said, “The challenges faced by our clients are increasingly complex and require innovative thinking and partnerships. This agreement with the European Commission reinforces the EC’s role as a key partner in our strategic, policy and operational efforts to reach the goal of ending extreme poverty and increasing shared prosperity.”

“With this agreement, we’re upgrading the strategic partnership between the European Commission and the World Bank to fight poverty around the world. We can accelerate delivery of our funds and increase the transparency of our joint projects for the benefit of people in the developing countries,” said European Commission Vice-President, Kristalina Georgieva, at the signing ceremony.

The European Commission and the World Bank first signed a cooperation agreement in 2001. The current document is a revision of an agreement dating from 2014. The revision of the agreement adjusts to the revised funding model of the World Bank, with clarified remuneration, accountability, simplification and increased transparency.

For the period 2010–2015, the European Commission has contributed over two billion euro to the World Bank Trust Funds, thus becoming the third biggest contributor.

The money has mainly gone to Africa (48%) and South Asia (26%), and has enabled the implementation of projects including in the areas of public administration and law (31%), health and social services (19%), and education (17%).

Today in Brussels, the European Commission and the European Agency for Safety and Health at Work (EU-OSHA) in cooperation with the Netherlands EU Presidency launched a two-year Europe-wide campaign:Healthy Workplaces for All Ages, which is the world’s biggest campaign in this area. Focusing on sustainable work and workplace safety and health in the context of the ageing workforce, the campaign provides a timely reminder that the younger workers of today are the older workers of tomorrow.

The campaign focuses on Europe’s enterprises (both private and public) and the need to promote sustainable work and healthy ageing from the beginning of working life. By doing so, they will be protecting their workers’ health up to and beyond retirement age and their organisations’ productivity.

Commissioner Thyssen highlighted the timeliness of this campaign topic: ‘At a time when there are important discussions going on about the future landscape of occupational safety and health in the EU, this campaign is extremely relevant. We need to start now to cater for the needs of Europe’s future workplaces and workers. Workplaces that address the health challenges of an ageing workforce gain in productivity. This is good for workers and good for business.’

The Netherlands’ Presidency representative, Lodewijk Asscher, emphasized the need to make our labour market sustainable for the future. ‘This campaign contributes to it. We need to stimulate employers and workers to invest in employability. After all, using the power of people will always get the best result. It energises people no matter what age. Here, the cradle to the grave concept certainly applies. The sooner you start, the longer you stay healthy and vital, and the better you can cope with change. Because the jobs of today might not exist in the future or might look a lot different to now. Therefore, it is important not to wait until that happens, but to prepare properly in good time.’

Christa Sedlatschek, Director of EU-OSHA, underlined the business case for this campaign topic: ‘By focusing on sustainable working throughout working life, not only can all workers better protect their health, but companies are likely to see major benefits too. Healthy workers are productive workers, and productive workers are essential to any effective organisation: it’s a win–win situation. We therefore highly value the cooperation between EU-OSHA and our focal points, official campaign partners and media partners and thank them for all their efforts in previous campaigns. We look forward to working with them again over the next two years.’

This campaign’s objectives are four-fold:
to promote sustainable work and healthy ageing from the beginning of working life;
to highlight the importance of risk prevention throughout working life;
to assist employers and workers (including in small and medium-sized enterprises) by providing information and tools for managing occupational safety and health in the context of an ageing workforce;
to facilitate information and good practice exchange.

This campaign topic is based on a European Parliament project conducted by EU-OSHA, ‘Safer and healthier work at any age’, along with various other EU-OSHA reports on safety and health in the context of the ageing workforce. As part of this new campaign, EU-OSHA is also releasing an e-guide on managing safety and health for an ageing workforce.

Background
The Healthy Workplaces for All Ages 2016-17 campaign raises awareness of the importance of good occupational safety and health management and risk prevention throughout the working life and of tailoring work to individual abilities — whether at the start of a worker’s career or at its close. Like previous Healthy Workplaces Campaigns, it is coordinated at national level by EU-OSHA’s focal points and supported by official campaign and media partners.

The campaign has been launched on 15 April 2016. Key dates in the campaign calendar include the European Weeks for Safety and Health at Work (October 2016 and 2017) and the Healthy Workplaces Good Practice Awards ceremony (April 2017). The campaign will end with the Healthy Workplaces Summit (November 2017), when all those who have contributed to the campaign will come together with EU-OSHA to take stock of the campaign’s achievements and the lessons learnt.

The European Agency for Safety and Health at Work (EU-OSHA) contributes to making Europe a safer, healthier and more productive place to work. The Agency researches, develops, and distributes reliable, balanced, and impartial safety and health information and organises pan-European awareness raising campaigns. Set up by the European Union in 1994 and based in Bilbao, Spain, the Agency brings together representatives from the European Commission, Member State governments, employers’ and workers’ organisations, as well as leading experts in each of the EU Member States and beyond.
You can follow the agency on Facebook, Twitter, LinkedIn, YouTube or subscribe to its monthly newsletter OSHmail. You can also register for regular news and information from EU-OSHA via RSS feeds.

WASHINGTON – The U.S. Small Business Administration (SBA) was joined today by a group of leading technology companies to announce the formation of the Small Business Technology Coalition, a first-of-its-kind public-private partnership that will provide America’s small businesses a streamlined interface to connect to innovative technology platforms as well as digital education and enterprise training.

Through this coalition, the SBA will collaborate with a group of the world’s most iconic technology companies to educate entrepreneurs on the range of resources and technology available to help them connect to customers, scale, and do business safely anywhere. This collection of resources will cover areas important to entrepreneurs including online commerce and payment platforms, efficiency of back-office operations, productivity solutions, cybersecurity protection, and improved customer service and shopping experiences.

In announcing the initiative, SBA Administrator Maria Contreras-Sweet stated: “On behalf of America’s 28 million innovators, entrepreneurs and small businesses, welcome and thank you to the companies that have joined SBA’s groundbreaking initiative. I’m heartened by the quality of companies stepping up to participate in this coalition. The success of these industry leaders and their countless customers and partners is living proof of the transformative power of technology and innovation.

“This first of a kind public-private partnership will empower a new generation of entrepreneurs to build businesses that are ready to compete from day one. SBA started this effort with our ‘Startup in a Day’ initiative in mind, coordinating across federal state and local government to cut red tape and simplify the process of starting a business. Now, with the launch of this coalition, America’s startups will also have the digital tools they need to take their first steps toward success.

“I remain fervently committed to finding solutions for our nation’s job creators–our entrepreneurs and small enterprises–and look forward to adding new members to this coalition as we work to further strengthen this small business resource.”

Participating companies helping to introduce the coalition today include Amazon, Box, Facebook, LegalZoom, Microsoft, Salesforce and Zenefits. Each member of the coalition has affirmed its commitment to assist small businesses across the United States through the adoption of modern technologies.

“Amazon’s marketplace, innovative ecommerce tools, and cloud services enable small businesses to grow and expand their reach,” said Brian Huseman, Vice President of Public Policy for Amazon. “Today, we are excited to build upon that partnership through the Small Business Technology Coalition, and demonstrate further how technology can help small businesses to innovate, focus resources and grow.”

“Small businesses play a vital role in the U.S. economy, but without IT departments or dedicated resources they often don’t have access or expertise to deploy the best technology to grow and scale their business,” said Karen Appleton, Senior Vice President of Industries at Box. “By joining the coalition, Box is committed to providing modern, cloud technology tools and education that will empower small businesses across America to achieve their greatest ambitions.”

Erin Egan, Facebook’s Vice President of U.S. Public Policy noted, “Facebook is proud to join the Small Business Technology Coalition to help America’s small businesses establish and grow their online presences and connect with customers where they are most engaged.”

“Technology is a core enabler of consistency of quality, efficiency, and reach,” said John Suh, CEO of LegalZoom. “Small business owners now have unprecedented access to affordable technology-enabled solutions that are better suited for their most common legal needs. LegalZoom is truly committed to empowering America’s small businesses and proud to be a part of the Small Business Technology Coalition.”

“Microsoft welcomes the SBA’s leadership in establishing the Small Business Technology Coalition. We firmly believe that small businesses are at the core of economic growth and innovation for our nation and therefore are a focal point for our company as well,” said Cindy Bates, Microsoft Vice President, Small and Midsized Business. “Studies show that businesses that leverage modern technology grow 15% faster than those that do not. We look forward to sharing how small businesses can harness the power of technology such as the Microsoft Cloud to grow and succeed in business.”

“We are in the midst of a sweeping digital transformation. Small businesses are the backbone of the U.S. economy and equipping them with technology and innovation will be vital in fueling their future growth,” said Leyla Seka, SVP, Salesforce, Desk.com. “We are honored to be joining this initiative and helping small businesses go digital.”

“Our goal at Zenefits is to make it easier to start, manage and grow a small business; from day one, our technology has been designed expressly for that purpose,” Zenefits CEO David Sacks said. “We’re thrilled to serve as a founding member of the Small Business Technology Coalition and to partner with the U.S. Small Business Administration. We look forward to providing educational, technology and other support through the SBA to help the small business community thrive.”

“Whether they are selling quilts or cloud solutions, businesses need access to digital tools and capabilities to be competitive,” added Tracy Terrill, Chief Digital Officer at SBA. “Our goal at the SBA is to ensure that entrepreneurs and small business owners are aware of digital resources designed to simplify administrative, legal, and technology challenges required to scale their businesses.”

A key element to the coalition’s scope of activity will be the ongoing schedule of hosted knowledge-sharing sessions to increase technology awareness on topics of interest to small businesses and entrepreneurs including cyber security, social media marketing and brand awareness, mobile content management, productivity solutions, online/ecommerce, mobility and field operations, and payments.

More information on the Small Business Technology Coalition is available at: www.sba.gov/techcoalition.

About the Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. www.sba.gov

WASHINGTON – U.S. Secretary of Labor Thomas E. Perez issued the following statement about the March 2016 Employment Situation report released today:

“The remarkable U.S. recovery continues, as total nonfarm employment increased by 215,000 in March. Beginning just a year after President Obama inherited the worst economic crisis in generations, businesses have been adding jobs at an extended, record-setting clip: a total of 14.4 million jobs over the last 73 consecutive months of private-sector job growth. The March unemployment rate was little changed at 5.0 percent. The labor force participation rate and employment-population ratio are trending up, reaching two-year and seven-year highs respectively.

“Other indicators continue to demonstrate a vibrant, growing economy. Consumer confidence increased last month; the labor market continues to strengthen, with 5.5 million job openings as of the end of January; weekly initial unemployment insurance claims remain consistently low in a way we haven’t seen in more than four decades. Meanwhile, the recovery began at just about the moment the Affordable Care Act was signed into law, six years ago last week. So much for the doomsday predictions that the ACA would wreck the economy – all it’s done is bring the uninsured rate at or near an all-time low, with more than nine in 10 Americans now enjoying health coverage.

“There are so many reasons to be bullish about our economic future, but we can’t become complacent about the challenges that remain. Continued weakness in manufacturing, for example, is a reminder that we must keep working to restore balance to the economy, to ensure that the recovery benefits people in all communities, up and down the income spectrum.

“As I make house calls in my travels across the country, I meet with people whose hard work isn’t rewarded with fair pay, who can barely get by, let alone get ahead. Average hourly earnings increased by 7 cents in March. But the long-range trend of flat wages, pre-dating the Great Recession by several decades, remains our greatest barrier to shared prosperity. That’s why the recent decision by two of the nation’s largest states to adopt the nation’s highest minimum wage, $15 per hour phased in over time, is such good news. This historic step will give millions of New Yorkers and Californians a raise.

“We continue to do everything possible to strengthen the middle class and give working people the economic stability they deserve. We are investing aggressively in the skills and talents of our people – most recently taking steps to help low-income seniors, migrant farmworkers, the people of Flint, Michigan, and young adults involved in the criminal justice system get the training that will lead to good jobs. During the last month, we have also completed final regulations providing important workplace protections – one to reduce exposure to deadly silica dust in construction and other industries, and another to provide workers with better information as they decide whether to join a union.

“The wind is once again at our back; now we have to make sure it propels everyone forward. Building an economy that works for everyone – helping working people get a bigger slice of a growing pie they helped bake – is the unfinished business we will continue tackling in the remaining months of this administration.”

Geneva, Switzerland, – The World Economic Forum, in collaboration with Deloitte, has released a new report on increasing transparency, specifically addressing corruption risks in infrastructure, engineering, construction and real estate through a pilot project in India. Building Foundations for Transparency looks at collective action and hands-on solutions to address corruption using technology to tackle two key areas: greater transparency in permits and licences; and land purchase, land title acquisition and registration processes at the state level in Maharashtra.

The report is part of the second phase of the Forum’s Partnering Against Corruption Initiative (PACI) project to address the needs of the infrastructure and urban development industries. India has garnered strong interest from the PACI community over the years, in particular from the PACI’s community of Vanguard CEOs.

Rather than continuing discussions on key risk areas through various platforms, the report focuses on practical outcomes, as well as key solutions developed by participants in a Mumbai workshop held in December 2015 that focused on collective action and public-private cooperation.

Drawing on a solutions-based framework and the principal agent theory in relation to corruption, the report identifies key messages from the activities in India, including the need for action to make the construction and real estate industries in the country less prone to corruption; and for solutions that enhance the transparency of processes and the importance of technology-based solutions as the optimal channel to address the challenge. Using solutions developed during the regional workshop as well as expert interviews and a survey of industry experts, the report provides guidance on how the framework can be implemented on a local level and replicated in other regions.

The report also contains an online diagnostic tool developed by the project’s steering and advisory committees to advance the agenda for greater transparency within the infrastructure and urban development (IU) industries. This front-end platform seeks to inform stakeholders and interested parties about ongoing efforts and provides a visual aggregation of data from various indices and rankings related to corruption and the ease of doing business.

“Global organizations are increasingly challenged by industry and country-specific corruption risks, which they have difficulties in handling on their own. It is imperative to engage relevant stakeholders in collective action to foster an environment of fair competition. The latest report from the World Economic Forum, Building Foundations for Transparency, succinctly outlines the key outcomes of a deep-dive at the state level in India, and the development of hands-on approaches to collective action that can now be replicated in other regions,” said Ken B. Graversen, Corporate Ethics and Compliance Officer, Danfoss, Denmark.

“The Building Foundations for Transparency project has great value for local urban bodies in India and the report showcases this. Many of these bodies are keen to evolve a new transparent process. With support from PACI in the next phase of the project, we hope that the World Economic Forum will continue to help implement real change at the local level by offering expert and best practices from across the world,” said Pranjal Sharma, Consulting Editor of Businessworld, India, and a Member of the Forum’s Global Agenda Council on Transparency and Anti-Corruption.

“A key outcome of this project is an online diagnostic tool that provides governments and businesses with a real-time look at the progress that has been made in reducing corruption in the infrastructure, engineering, construction and real estate industries in Maharashtra, India. With greater transparency, governments now have a roadmap for developing the standardized procedures required to design corruption out of the system. Most importantly, the output from this project can now be extended geographically, allowing input and feedback to be shared across business, government and citizens in the future,” noted James H. Cottrell, Project Adviser and Partner, Deloitte, USA.

“This project leveraged the potential of digital technology as an enabler for transparency and citizen participation. The results indicate a shared, general belief that technology-based solutions can be quickly adopted and scaled-up beyond city and state levels. The tangible benefits and long-term impact of digital-based solutions rely on eliminating multiple layers of decision-making in public administration while providing a modern, transparent front-end to all stakeholders who are committed to disclosing information and reforming permitting and licensing processes in India,” said Pedro Rodrigues de Almeida, Head of Basic Industries, Member of the Executive Committee, World Economic Forum.

In the next and final phase of the project, the PACI is working with its signatories and Partners of the World Economic Forum to develop new forms of public-private cooperation to tackle corruption-related risks across industries with a focus on rebuilding trust and integrity through high-level dialogues with industry and government. In addition, 2016 will see project workshops and the replication of the diagnostic tool in other regions, including Africa and Latin America. Throughout 2016, the Forum will advance these efforts; begin early-stage project preparation through dialogues aimed at disseminating the best practices collected over the three phases of the Building Foundations trilogy; and work on furthering the anti-corruption agenda in Africa, Latin America and South-East Asia.

As both a basketball star and a businessman, Earvin “Magic” Johnson has turned hard work and tenacity into major success. His secret? “I love what I do, and every day I bring the same discipline, passion and fire to my businesses that I brought on the court.”

Johnson was the latest speaker to take the stage as part of our Outer Spaces series of innovation talks at our Minneapolis headquarters. Along with Laysha Ward, Target’s chief corporate social responsibility officer, he shared thoughts about America’s shifting cultural demographic, and what it means for retailers curating business approaches in urban communities. The event was hosted in partnership with Target’s African American Business Council as part of our Black History Month celebration.

As chairman and CEO of Magic Johnson Enterprises, Johnson is a detail-oriented entrepreneur who worked with partners like Starbucks Chairman and CEO Howard Schultz and others to learn the ropes.

The best way to start any business venture, Johnson said, is to build trust within the community you serve. “I always go out and meet with the leaders, trendsetters and tastemakers. It’s especially important in urban communities to make sure a business and the products offered are relevant to your consumer. We do focus groups, attend Town Hall meetings and build relationships. Listen to community members, their ideas and their concerns. Let them know we are creating a business to strengthen their community. ‘Over-deliver’ is a key word. The more you build trust, the more support you will have for your brand.”

Part of understanding a community, Johnson said, is a deep knowledge of what it wants and needs most. “I learned to do my homework, research what customers want and tweak the business plan. Have the right mix of products. Add personal touches (like music, or seating) that the neighborhood will appreciate. Offer job opportunities for people in the community and have a diverse mix of employees that mirror the community. Encourage new development. Put measures in place to ensure a safe, enjoyable experience. Get those things right and customers will keep coming back.”

Johnson put this wisdom to the ultimate test when he began work on the first Magic Johnson Theater in Los Angeles back in 1994. The theater site was located in an area known as gang territory, and everyone involved was concerned about making it a safe environment.

“I wanted to bring fun family entertainment to the surrounding community, but I needed all parties on board. So I met with the gang leaders, told them we wanted the theater to be a neutral zone that could be safe for them and their families. I helped them understand the benefits—more jobs for the community, a great place to relax, and the convenience of entertainment in the neighborhood. I promised it would be as nice as any they would see in the suburbs. The gang members respected what I was asking and appreciated what I was doing for the community. They wanted job opportunities for themselves, so we hired 10 members from each gang to help us build the theater. Fourteen of them ended up staying on permanently. They were able to support their families and learn new skills.”

“I made rules for the theater too. For example, you couldn’t wear gang colors or hats to the theater. And the community ultimately respected that decision. I even heard from parents that their children and the community felt safer. The theater rules were teaching their children discipline. I felt blessed to be a part of that change in mindset. If I hadn’t grown up in the same environment, it wouldn’t have worked. They wouldn’t have trusted me. That’s why personal experiences are so important. That’s why the message and the messenger are so important. In its first year, the Magic Johnson Crenshaw theater was in the top 10 highest-grossing theaters in the nation. It shows that a business can do good and do well.”

After the event, Johnson sat down with the AABC members to talk about the importance of diversity and inclusion in the workplace, something the AABC and our other business councils champion for our team every day. “Diversity of thought, ideals and opinions is an important factor in any successful company,” he said. “It reflects your customer base and what America has become, so the workforce needs to mirror that too. The business will not only be successful, but will maintain sustainability in a culturally changing world.”