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Harness Strategy and Synergy Session 70
Date: Tuesday October 20th, 2026
Time: 9.30am US Eastern Time
Speaker: Dr. Ken Walley

Meeting link
https://cibunet.webex.com/cibunet/j.php?MTID=ma9c56b45460c4039353d4a7c3655c54b

Meeting number
2531 817 5808

Video address
25318175808@cibunet.webex.com

Audio connection
United States Toll +1-650-479-3208

Access code
2531 817 5808

NEW YORK–rnCBS Television Studios and the NAACP (National Association for the Advancement of Colored People) have reached an agreement on a multi-year partnership to develop and produce scripted, unscripted and documentary content for linear television networks and streaming platforms. The announcement was made today by George Cheeks, President and CEO of the CBS Entertainment Group, and Derrick Johnson, President and CEO of the NAACP.rnrnThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005528/en/rnrnAs part of the agreement, CBS Television Studios’ creative leaders will work with the civil rights organization to establish a dedicated team of executives and infrastructure to acquire, develop and produce programming. The partnership will focus on producing premium content that expands the number of diverse voices contributing to an ever-evolving society, and by telling inclusive stories that increase the visibility and impact of Black artists in a growing media landscape.rnrnThe CBS/NAACP partnership includes a commitment to develop content for the CBS Television Network as well as the ability to sell programming to third-party platforms across the media landscape.rnrn“An important way to diversify and grow our storytelling is to expand our horizons beyond the traditional studio-producer system,” said Cheeks. “There is no better partner than the NAACP – the preeminent civil rights organization in our country – to help us find, develop and tell these inclusive stories. “At the same time, this is a strategic opportunity for CBS to build upon as well as re-imagine our pipeline for existing and emerging creative talent.”rnrn“In this moment of national awakening, the time has never been better to further tell stories of the African American experience,” said Johnson. “Programming and content have the power to shape perspectives and drive conversations around critical issues. This partnership with CBS allows us to bring compelling and important content to a broad audience.”rnrnAbout CBS Television Studios:rnCBS Television Studios is one of the industry’s leading suppliers of programming with more than 70 series currently in production across broadcast and cable networks, streaming services and other emerging platforms. The Studio’s expansive portfolio spans a diverse slate of commercially successful and critically acclaimed scripted programming, genre-defining franchises including the ever-growing “Star Trek” universe, award-winning late night and daytime talk shows, and an extensive library of iconic intellectual property.rnrnAbout the NAACP:rnFounded in 1909 in response to the ongoing violence against Black people around the country, the NAACP (National Association for the Advancement of Colored People) is the largest and most preeminent civil rights organization in the nation. We have over 2,200 units and branches across the nation, along with well over 2M activists. Our mission is to secure the political, educational, social and economic equality of rights in order to eliminate race-based discrimination and ensure the health and well-being of all persons.rnrnNOTE: The Legal Defense Fund – also referred to as the NAACP-LDF was founded in 1940 as a part of the NAACP, but separated in 1957 to become a completely separate entity. It is recognized as the nation’s first civil and human rights law organization, and shares our commitment to equal rights.

FIFA, WHO, and the European Commission have joined forces, to launch the #SafeHome campaign to support women and children at risk of domestic violence. The campaign is a joint response from the three institutions to the recent spikes in reports of domestic violence as stay-at-home measures to prevent the spread of COVID-19 have put women and children experiencing abuse at greater risk.

Almost one in three women worldwide experience physical and/or sexual violence by an intimate partner or sexual violence by someone else in their lifetime. In a majority of cases, that violence is committed by a partner in their home – indeed, up to 38% of all murders of women are committed by an intimate partner. It is also estimated that one billion children aged between two and seventeen years (or half the world’s children) have experienced physical, sexual, or emotional violence or neglect in the past year.

There are many reasons why people perpetrate domestic violence, including gender inequality and social norms that condone violence, childhood experiences of abuse or exposure to violence and coercive control growing up. Harmful use of alcohol can also trigger violence. Stressful situations, such as those being experienced during the COVID-19 pandemic and economic instability, exacerbate the risk. Moreover, the current distancing measures in place in many countries make it harder for women and children to reach out to family, friends and health workers who could otherwise provide support and protection.

“Just as physical, sexual or psychological violence has no place in football, it has no place in the home.” said Dr Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization. “We are so pleased that our partners today are joining us to draw attention to this critical issue. As people are isolated at home because of COVID-19, the risks of domestic violence have tragically been exacerbated.”.

“Together with the World Health Organization and the European Commission, we are asking the football community to raise awareness to this intolerable situation that threatens particularly women and children in their own home, a place where they should feel happy, safe and secure,” said FIFA President Gianni Infantino. “We cannot stay silent on this issue that negatively affects so many people. Violence has no place in homes, just as it has no place in sports. Football has the power to relay important social messages, and through the #SafeHome campaign, we want to ensure that those people experiencing violence have access to the necessary support services they need.”

“Violence has no place in our societies,” said Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth. “Women’s rights are human rights and should be protected. Often abused women and children are afraid to talk because of fear or shame. This ‘window’ to speak-up and seek help is, during confinement, even more restricted. As a matter of fact , in some countries, we have seen an increase in reports of domestic violence since the outbreak of COVID-19. It is our responsibility as a society, as institutions to speak up for these women. To give them trust and support them. This is the purpose of this joint campaign which I am honoured to be part of.”

“We call upon our member associations to actively publish details of national or local helplines and support services that can help victims and anyone feeling threatened by violence in their locality,” added the FIFA President. “We also call upon our members to review their own safeguarding measures using the FIFA Guardians toolkit to ensure that football is fun and safe for everyone in our game, especially the youngest members of the football family.”

The five-part video awareness campaign features 15 past and present footballers – Álvaro Arbeloa, Rosana Augusto, Vítor Baía, Khalilou Fadiga, Matthias Ginter, David James, Annike Krahn, Marco Materazzi, Milagros Menéndez, Noemi Pascotto, Graham Potter, Mikaël Silvestre, Kelly Smith, Óliver Torres and Clementine Touré – who have stressed their support to addressing this critical issue. The campaign is being published on various FIFA digital channels, with #SafeHome also being supported with multimedia toolkits for the 211 FIFA member associations and for various media agencies to help facilitate additional localisation and to further amplify the message worldwide.

WHO, the United Nations’ specialised health agency, and FIFA, football’s world governing body, collaborate closely to promote healthy lifestyles, which includes being free of violence, through football globally. The two organisations jointly launched the “Pass the message to kick out coronavirus” campaign in March 2020 to share advice on effective measures to protect people from COVID-19. This was followed by the #BeActive campaign in April 2020 to encourage people to stay healthy at home during the pandemic.

Factsheet
According to WHO, violence is a pervasive public health and human rights problem around the world. It affects women, men, boys and girls in all countries and cuts across boundaries of age, race, religion, ethnicity, disability, culture and wealth. Statistically, women and children (both boys and girls) are most affected by violence in the home and it is often perpetrated by men they know and trust.

Data (Source: WHO and others)

Almost one in three women worldwide have experienced physical and/or sexual violence by an intimate partner or sexual violence, not including sexual harassment, by any perpetrator
Globally, 30% of women have experienced physical and/or sexual violence by an intimate partner in their lifetime
Globally up to 38% of murders of women are committed by intimate partners
Adolescent girls, young women, women belonging to ethnic and other minorities, transwomen, and women with disabilities face a higher risk of different forms of violence
The majority (55% to 95%) of women survivors of intimate partner violence or sexual violence do not disclose or seek any type of help or services
Being abused as a child or exposed to violence in the family when growing up, attitudes accepting of violence and gender inequality including gender norms increase the risk of perpetrating violence against a partner; in some settings violence is associated with excessive use of alcohol
Globally, over one billion children – over half of all boys and girls aged 2–17 years – experience some form of emotional, physical or sexual violence every year
The lifetime prevalence of childhood sexual abuse is 18% for girls and 8% for boys
Homicide is among the top five causes of death in adolescents, with boys comprising over 80% of victims and perpetrators
Regional statistics also exist. For example in Europe, it is estimated that one in five (20%) children have experienced sexual abuse, and in the WHO European region, a quarter of women (15-49 years) have experienced intimate partner violence in their lifetime. In Latin America and the Caribbean, it is estimated that 58% of children experience sexual, physical or emotional violence each year, and 30% of women have experienced intimate partner violence in their lifetime.

NISKAYUNA, NY – With digging abilities that might make a groundhog jealous, a multidisciplinary team at GE Research, the central technology development arm of the General Electric Company (GE), has been awarded a 15- month, $2.5 million project through the Defense Advanced Research Projects Agency’s (DARPA) Underminer program, to demonstrate the feasibility of a robot that can rapidly and efficiently bore tactical tunnels in support of critical military operations. Click here to see a video demonstration.

The principal objective of DARPA Underminer program is to enable the rapid construction of underground tunnels in support of various military battlefield operations. These operations could include supporting rescue missions or rapidly resupplying critical munitions to the front lines. GE’s project is one of three new projects the program is funding to demonstrate the feasibility of new capabilities with robotics, sensing and other component technologies that exceed current commercial drilling capabilities.

The inspiration for GE’s approach actually has its roots in the graduate and doctoral research of project leader Deepak Trivedi in the mechanical engineering program at Penn State University. Trivedi’s doctoral work, one of the earliest in soft robotics, was to create and demonstrate a robot inspired by biological examples of soft structures such as octopus arms and elephant trunks. The idea was creating a robot that had the dexterity to make sharp turns, squeeze through confined or small spaces and adaptability to pick up and move objects of vastly different sizes and shapes. Trivedi, a mechanical engineer, says the earthworm-like design integrates some of these characteristics with a great ability to dig and move quickly underground.

“It turns out earthworms are probably the most prolific tunnel makers on the planet,” Trivedi said. Tree roots can penetrate through highly compacted soils and soft rock by generating high pressures through tissue growth. “We have designed a prototype that is several feet long, with hydraulic artificial muscles that mimics the agility of earthworms moving through soil and with the force of tree roots penetrating through soft rock.”

Trivedi explains that earthworms rely on muscular structure filled with fluid, called the “hydrostatic skeleton.” When they move, some sections of their structure radially expand to enlarge the tunnel while anchoring the worm, while others become longer to create movement and penetrate further into the soil.

What Trivedi and the GE Robotics Team have designed is a robot using powerful artificial muscles that moves in the same fashion. The robot is capable of adaptively changing its gait depending on soil conditions, making it versatile. Another advantage of this approach is that the robot can create tunnels without the need for bringing any material to the surface, giving it advantages of efficiency and stealth. But Trivedi says that designing a powerful robot that moves with force is only one part of the challenge. The other is enabling it to autonomously and knowingly navigate its way around obstacles to reach the desired target location without the benefit of GPS.

Trivedi said, “Because these tunneling systems are underground, we need to be able to build in autonomous and sensing capabilities that enable our robot to move and tunnel in the right places. Fortunately, we’re able to pull in controls, AI and sensing experts from across the Lab to help us integrate these new capabilities.”

The GE Research team already has designed a prototype and performed some initial lab scale demonstrations of the robot tunneling through dirt. The goal of the project is to demonstrate a robot that can move at a speed of 10 cm/sec and dig a tunnel that is 500 meters in length and at least 10 cm in diameter.

Trivedi says the technologies being developed on this project will not only help advance tunneling technologies, but also advanced inspection and repair capabilities using robots.

“The soft robot design we’re creating will have many more degrees of freedom in movement than conventional robots with joints, Trivedi says. “One of the reasons, octopuses, for example, can squeeze through such small spaces is that they have no bones. The same thing applies for soft robots, which can be very advantageous when you want to reach small places like the inside of a jet engine or power turbine to inspect and make intricate repairs.”

GE has developed and field-tested new snake-like robots for jet engine inspection and repair. These highly flexible robots allow access to confined and cluttered environments at different length scales – from millimeters up to several meters, thereby enabling many maintenance operations to be performed in-situ, without requiring expensive teardown and reassembly of industrial assets.

About GE Research
GE Research is GE’s innovation powerhouse where research meets reality. We are a world-class team of scientific, engineering and marketing minds working at the intersection of physics and markets, physical and digital technologies, and across a broad set of industries to deliver world-changing innovations and capabilities for our customers. To learn more, visit our website at https://www.ge.com/research/.

BELLEVUE, Wash. & OVERLAND PARK, Kan.- T-Mobile US, Inc. (NASDAQ: TMUS) and Sprint Corporation (NYSE: S) today announced that they have entered into an amendment to their definitive Business Combination Agreement to create the New T-Mobile. The Boards of Directors of T-Mobile and Sprint have unanimously approved the amendment. The amendment has no impact on T-Mobile’s previously stated outlook on the New T-Mobile’s synergies, long-term profitability and cash generation.

A separate arrangement entered into by SoftBank Group Corp. in connection with the amendment will result in an effective exchange ratio of approximately 11.00 Sprint shares for each T-Mobile share immediately following the closing of the merger, an increase from the originally agreed 9.75 shares. This is a result of SoftBank agreeing to surrender approximately 48.8 million T-Mobile shares acquired in the merger to New T-Mobile immediately following the closing of the transaction, making SoftBank’s effective ratio 11.31 Sprint shares per T-Mobile share. Sprint shareholders other than SoftBank will continue to receive the original fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share, or the equivalent of approximately 9.75 Sprint shares for each T-Mobile share.

Immediately following the closing, and after the surrender of shares by SoftBank, Deutsche Telekom and SoftBank are expected to hold approximately 43% and 24%, respectively, of the fully diluted New T-Mobile shares, with the remaining approximately 33% held by public shareholders.

T-Mobile has agreed to re-issue to SoftBank the previously surrendered shares upon the achievement of certain stock price milestones by New T-Mobile during a specified measurement period, and subject to certain additional terms, as outlined in the letter agreement that will be filed by each of T-Mobile and Sprint with the SEC.

In addition, the amendment extends the “outside date” under the Business Combination Agreement to July 1, 2020, and modifies certain other provisions of the Business Combination Agreement as described in the companies’ SEC filings.

“Today’s announcement is another significant step forward toward finally closing this transaction! Throughout this journey, T-Mobile and Sprint have been singularly focused on one thing: building a supercharged Un-carrier that will offer U.S. consumers a broad and deep nationwide 5G network, more choice and greater competition. We are now on the threshold of achieving our goal. And did I mention how fun it’s going to be sticking it to Dumb, Dumber and Big Cable along the way? This is going to be epic!” said John Legere, CEO of T-Mobile.

“With today’s agreement in place, we are now turning our attention toward our goal of closing this transaction and creating the New T-Mobile as early as April 1, 2020,” said Mike Sievert, COO and President of T-Mobile, and appointed CEO of the company starting on May 1, 2020. “We are on the verge of being able to do what we’ve set out to do from day one — reshape a broken wireless industry and create the new standard for consumers when it comes to value, speed, quality and service. The New T-Mobile is literally going to change wireless for good and now we’re almost ready to get to the fun part: bringing our teams together, building this supercharged Un-carrier and becoming the envy of the wireless industry and beyond!”

“Completing this step is yet another critical milestone in securing Sprint’s future, and it brings us one step closer to closing this historic transaction that has been years in the making,” said Marcelo Claure, Sprint Executive Chairman. “I’m incredibly thankful for the perseverance and resilience of everyone that has gotten us to this point.”

The T-Mobile and Sprint combination remains subject to certain closing conditions. Additional information can be found at www.NewTMobile.com.

PJT Partners and Goldman Sachs are acting as financial advisors to T-Mobile. Wachtell, Lipton, Rosen & Katz is providing legal counsel to T-Mobile and Deutsche Telekom. Evercore is acting as financial advisor to the committee of independent directors of T-Mobile and Latham & Watkins is providing legal counsel to the committee of independent directors. Morgan Stanley is serving as a financial advisor to Deutsche Telekom.

The Raine Group LLC is acting as lead financial advisor to Sprint. J.P. Morgan is also acting as a financial advisor to Sprint. Morrison & Foerster LLP is providing legal counsel to Sprint and SoftBank.

About T-Mobile
As America’s Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is redefining the way consumers and businesses buy wireless services through leading product and service innovation. Our advanced nationwide 4G LTE network delivers outstanding wireless experiences to 86.0 million customers who are unwilling to compromise on quality and value. Based in Bellevue, Washington, T-Mobile US provides services through its subsidiaries and operates its flagship brands, T-Mobile and Metro by T-Mobile. For more information, please visit http://www.t-mobile.com.

About Sprint:
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 54.2 million connections as of December 31, 2019 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Today, Sprint’s legacy of innovation and service continues with an increased investment to dramatically improve coverage, reliability, and speed across its nationwide network and commitment to launching a 5G mobile network in the U.S. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.

MILWAUKEE, — ManpowerGroup (NYSE: MAN) has been recognized as one of the Disability Equality Index® (DEI) Best Places to Work, receiving the perfect score for its commitment to inclusion in the workplace. The DEI is a joint initiative of the American Association of People with Disabilities (AAPD) and the U.S. Business Leadership Network® (USBLN) that measures key performance indicators across organizational culture, leadership, accessibility, employment, community engagement, support services and supplier diversity.

ManpowerGroup is the only company in the industry to score 100% based on points awarded in four major categories: Culture & Leadership, Enterprise-Wide Access, Employment Practices and Community Engagement & Support Services.

“We believe all people deserve to feel valued and supported when they come to work, no matter their gender, ethnicity, culture or background,” said Becky Frankiewicz, President of ManpowerGroup’s North American business. “We set ourselves ambitious targets for conscious inclusion where everyone is invited in and can achieve their potential. We’re proud to champion diversity and inclusion in the workplace and honored to be recognized with this award as a leading employer for our disability inclusion policies and people practices. Diversity of people brings diversity of thought, leading to better decision making and business performance.”

For more information on how ManpowerGroup is doing well by doing good and building integrated and inclusive workplaces visit: https://doingwellbydoinggood.manpowergroup.com/

ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for 70 years. In 2018, ManpowerGroup was named one of the World’s Most Ethical Companies for the ninth year and one of Fortune’s Most Admired Companies for the sixteenth year, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com

About the Disability Equality Index (DEI)
The Disability Equality Index (DEI) serves as the nation’s most trusted annual benchmarking tool allowing America’s leading corporations to self-report their disability policies and practices. This evolving tool scores each corporation on a scale from 0 to 100, with top scorers (80 and above) recognized as “Best Places to Work for Disability Inclusion”. The DEI is a joint initiative between the US Business Leadership Network (USBLN) and the American Association of People with Disabilities (AAPD). The benchmark was developed by the two national leaders in consultation with the appointed DEI Advisory Committee, a diverse and voluntary group of experts in business, policy, and disability advocacy.

CINCINNATI–For nearly a century, Pepto-Bismol has stood for relief of stomach troubles. To celebrate its 99th anniversary, the iconic brand is excited to introduce a new formula that features Ultra Coat technology. The new formula is still the go-to relief medicine by calming and soothing your stomach.

The new Ultra Coat technology relieves an upset stomach by providing a protective coating on the stomach lining that soothes irritation and provides fast relief from upset stomach and indigestion. The go-to “pink stuff” can be taken for diarrhea, travelers’ diarrhea or an upset stomach due to overindulgence in food and drink, including: Nausea, Heartburn, Indigestion, Upset Stomach, Diarrhea. Do those five symptoms sound familiar and perhaps strike a nostalgic chord? To accompany the new formula, Pepto-Bismol is also rolling out a hot new version of its iconic 5-symptom jingle.

Pepto-Bismol was first introduced in 1919 to treat a variety of stomach symptoms and has continued to provide reliable relief for generations since then. The new formula and improved coating retains all of the efficacy of the previous formulas which has made Pepto-Bismol a go-to reliever for stomach troubles for so many decades.

“For a brand to make it to 99 years is a milestone worth celebrating, and in true Pepto fashion, we didn’t want to wait until 100 to have all the fun!” said Dave Tomasi, Brand Franchise Director, North America Digestive Wellness. “We continue to look for innovative ways to help relieve upset stomachs and this new formula is proof of that commitment.”

Don’t get caught unprepared with any of the five symptoms and make sure you’ve always got Pepto-Bismol in your medicine cabinet or in your bag for easy access to Ultra Coating relief. Take Pepto-Bismol as soon as you start to experience symptoms of overindulgence including nausea, heartburn, indigestion, and upset stomach or diarrhea. The #1 Pharmacist Recommended Brand for stomach upset has you covered for #PinkRelief.

About Pepto-Bismol
Pepto-Bismol is the only leading brand that can provide soothing relief for five different stomach symptoms: nausea, heartburn, indigestion, upset stomach and diarrhea. Manufactured by Procter & Gamble for adults and children 12 years of age and older, Pepto-Bismol is available in multiple forms (regular strength liquid, ultra strength liquid, chewables, and caplets) and flavors (Cherry and Original). The brand also offers Pepto Kids Antacid for children 2 years of age and older. For additional information, please visit www.pepto-bismol.com .

About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

WASHINGTON – In an effort to help low-income residents become self-sufficient, the U.S. Department of Housing and Urban Development (HUD) today awarded $34.9 million to public housing authorities, public housing resident associations, Native American tribes, and non-profit organizations across the nation to hire or retain service coordinators to help them find jobs, educational opportunities, and achieve economic and housing independence (see list below).

The funding, provided through HUD’s Resident Opportunities and Self Sufficiency – Service Coordinators Program (ROSS-SC) helps grantees hire or retain “service coordinators” who work directly with residents to assess their needs and connect them with education, job training and placement programs, and/or computer and financial literacy services available in their community to promote self-sufficiency.

“It’s part of our mission to help connect public housing residents to better, higher paying jobs and critical services as a means of helping them move beyond public assistance and toward self-sufficiency,” said HUD Secretary Ben Carson. “This funding gives our local partners resources they can use to help residents become economically independent and achieve the dreams they have for themselves and their children.”

The purpose of HUD’s ROSS-SC program is to encourage innovative and locally driven strategies that link public housing assistance with public and private resources to enable HUD-assisted families to increase earned income; reduce or eliminate their need for welfare assistance; and promote economic independence and housing self-sufficiency. These grants provide funding to hire and retain Service Coordinators who will assess the needs of residents of conventional Public Housing or Indian housing and coordinate available resources in the community to meet those needs. In addition, ROSS-SC grants help improve living conditions for seniors, enabling them to age-in-place.
HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and https://espanol.hud.gov.

Buenos Aires, Argentina, 11 December 2017 – A new initiative designed to drive public-private dialogue on e-commerce was launched today (11 December) by the World Trade Organization, the World Economic Forum and the Electronic World Trade Platform (eWTP). The initiative, entitled ‘Enabling E-commerce’, aims to bring together leading voices from governments, businesses and other stakeholders to begin a high-level conversation on e-commerce policies and practices that can benefit small businesses.

The launch event took place in Buenos Aires, on the margins of the WTO’s 11th Ministerial Conference. Director-General Roberto Azevêdo was joined by Jack Ma, Executive Chairman of Alibaba Group, representing the Electronic World Trade Platform (eWTP), and Rick Samans, Head of Global Agenda, Member of the Managing Board, World Economic Forum.

E-commerce is a growing force in global trade and has the potential to make the world economy more inclusive by creating opportunities for micro, small and medium-sized enterprises (MSMEs) and expanding choice for consumers. However, for MSME engagement in e-commerce to grow rapidly worldwide, reforms to industry practices and government policies are needed.

The Enabling E-commerce initiative will provide an opportunity for stakeholders to develop a clearer understanding of how to enable MSME e-commerce around the globe. It will also encourage research and knowledge sharing on the practical challenges faced by MSMEs and serve as a bridge between global e-commerce practice and policy.

DG Azevêdo said: “There has been a groundswell of interest in e-commerce at the WTO – and in its potential to lift up small businesses around the world. The vibrant debate on these issues has shown the desire of many WTO members to bridge the digital divide, and to gain a deeper understanding of the challenges and opportunities of e-commerce. The Enabling E-commerce initiative will therefore provide a valuable resource – bringing a range of stakeholders together to further explore these issues. I want to thank the World Economic Forum and eWTP for this initiative.”

Jack Ma said: “The Enabling E-commerce Initiative envisions a world where small businesses, young people and developing countries can succeed in the global marketplace. The problem with globalization is that its benefits have not been made available to all. We cannot stop globalization, we must improve it. If business and government work together, we can create a more inclusive trade model to expand the benefits of globalization to those who have been left behind.”

Richard Samans said: “We have an opportunity to harness innovation to create a more inclusive global economy. As the international organization for public-private cooperation, the World Economic Forum will work with WTO and eWTP to bring all interested stakeholders together to deepen understanding of how to facilitate cross-border ecommerce for small business.”

The initiative will start its work early in 2018, with a high-level meeting at Davos in January. This will be followed up by other conversations, including a major event in Geneva later in the year.

For more information, please contact: World Trade Organization: Ankai Xu ankai.xu@wto.org , Dana Bajjali dana.bajjali@wto.org ; World Economic Forum: Dai Di, di.dai@weforum.org

The Eurogroup welcomes that a full staff-level agreement has been reached between Greece and the institutions. Also, the Eurogroup notes with satisfaction that the Greek authorities and the European institutions have reached an agreement on the contingency fiscal mechanism, which is in line with the Eurogroup statement adopted on 9 May in particular as regard the possible adoption of permanent structural measures, including revenue measures, to be agreed with the institutions. It therefore provides further reassurances that Greece will meet the primary surplus targets of the ESM programme (3.5% of GDP in the medium-term), without prejudice to the obligations of Greece under the SGP and the Fiscal Compact.

The Eurogroup also welcomes the adoption by the Greek parliament of most of the agreed prior actions for the first review, notably the adoption of legislation to deliver fiscal parametric measures amounting to 3% of GDP that should allow to meet the fiscal targets in 2018, to open up the market for the sale of loans and to establish the agreed Greek Privatisation and Investment Fund that should operate in full independence. The Eurogroup mandates the EWG to verify in the next few days the full implementation of the outstanding prior actions on the basis of an assessment by the institutions, in particular the corrections to the legislation on the opening up of the market for the sale of loans, and on the pension reform, as well as the completion of all prior actions related to the government pending actions in the field of privatization.

Following the full implementation of all prior actions and subject to the completion of national procedures, the ESM governing bodies are expected to endorse the supplemental MoU and approve the disbursement of the second tranche of the ESM programme. The second tranche under the ESM programme amounting to EUR 10.3 bn will be disbursed to Greece in several disbursements, starting with a first disbursement in June (EUR 7.5 bn) to cover debt servicing needs and to allow a clearance of an initial part of arrears as a means to support the real economy. The subsequent disbursements to be used for arrears clearance and further debt servicing needs will be made after the summer. The disbursements for arrears clearance will be subject to a positive reporting by the European Institutions on the clearance of net arrears. The additional disbursement for debt servicing needs will be subject to milestones related to privatization, including the new Privatization and Investment Fund, bank governance, revenue agency and energy sector to be assessed by the European institutions and verified by the EWG and the ESM Board of Directors.

In line with the 9 May Eurogroup statement, and in view of the forthcoming full implementation of all the prior actions by Greece and completion of the first review, the Eurogroup considered today the sustainability of Greek public debt.

The Eurogroup agrees to assess debt sustainability with reference to the following benchmark for gross financing needs (GFN): under the baseline scenario, GFN should remain below 15% of GDP during the post programme period for the medium term, and below 20% of GDP thereafter.

The Eurogroup recalls the medium-term primary surplus target of 3.5% of GDP as of 2018 and underlines the importance of a fiscal trajectory consistent with the fiscal commitments under the EU framework.

The Eurogroup recalls the following general guiding principles agreed on 9 May for possible additional debt measures: (i) facilitating market access in order to replace over time public financed debt with privately financed debt; (ii) smoothening the repayment profile; (iii) incentivising the country’s adjustment process even after the programme ends; and (iv) flexibility to accommodate uncertain GDP growth and interest rate developments in the future. On 9 May the Eurogroup also reconfirmed that nominal haircuts are excluded, and that all measures taken will be in line with existing EU law and the ESM and EFSF legal frameworks.

Guided by these principles and on the basis of technical work carried out by the EWG, the Eurogroup agreed today on a package of debt measures which will be phased in progressively, as necessary to meet the agreed benchmark on gross financing needs and will be subject to the pre-defined conditionality of the ESM programme.

For the short-term, the Eurogroup agrees on a first set of measures which will be implemented after the closure of the first review up to the end of the programme and which includes:

Smoothening the EFSF repayment profile under the current weighted average maturity
Use EFSF/ESM diversified funding strategy to reduce interest rate risk without incurring any additional costs for former programme countries
Waiver of the step-up interest rate margin related to the debt buy-back tranche of the 2nd Greek programme for the year 2017
The Eurogroup asks the EFSF and ESM management to take these measures forward within their mandate, on the basis of preparatory work by the EWG, and where needed to prepare formal decision making by the relevant EFSF and ESM decision-making bodies. The decision on the smoothening of the EFSF repayment profile and the reduction of interest rate risks should be taken as a matter of priority.

For the medium term, the Eurogroup expects to implement a possible second set of measures following the successful implementation of the ESM programme. These measures will be implemented if an update of the debt sustainability analysis produced by the institutions at the end of the programme shows they are needed to meet the agreed GFN benchmark, subject to a positive assessment from the institutions and the Eurogroup on programme implementation.

Abolish the step-up interest rate margin related to the debt buy-back tranche of the 2nd Greek programme as of 2018
Use of 2014 SMP profits from the ESM segregated account and the restoration of the transfer of ANFA and SMP profits to Greece (as of budget year 2017) to the ESM segregated account as an ESM internal buffer to reduce future gross financing needs.
Liability management – early partial repayment of existing official loans to Greece by utilizing unused resources within the ESM programme to reduce interest rate costs and to extend maturities. Due account will be taken of exceptionally high burden of some Member States.
If necessary, some targeted EFSF re-profiling (e.g. extension of the weighted average maturities, re-profiling of the EFSF amortization as well as capping and deferral of interest payments) to the extent needed to keep GFN under the agreed benchmark in order to give comfort to the IMF and without incurring any additional costs for former programme countries or to the EFSF.
For the long-term, the Eurogroup is confident that the implementation of this agreement on the main features for debt measures, together with a successful implementation of the Greek ESM programme and the fulfilment of the primary surplus targets as mentioned above, will bring Greece’s public debt back on a sustainable path over the medium to long run and will facilitate a gradual return to market financing. At the same time, the Eurogroup agrees on a contingency mechanism on debt which would be activated after the ESM programme to ensure debt sustainability in the long run in case a more adverse scenario were to materialize. The Eurogroup would consider the activation of the mechanism provided additional debt measures are needed to meet the GFN benchmark defined above and would be subject to a decision by the Eurogroup confirming that Greece complies with the requirements under the SGP. Such mechanism could entail measures such as a further EFSF re-profiling and capping and deferral of interest payments. Also, the Eurogroup commits to long-term technical assistance to boost Greek growth.

The Eurogroup recognises that over the exceptionally long time horizon of assessing debt sustainability there can be no forecasts, only assumptions, given the sizable degree of uncertainty over macroeconomic developments.

Against the background of the forthcoming successful completion of the first review and the agreement on debt relief, the Eurogroup welcomes the intention of the IMF management to recommend to the Fund’s Executive Board to approve a financial arrangement before the end of 2016 that will support the implementation of the agreed fiscal and structural reforms. It is recognised that, consistent with IMF policies, approval of this arrangement will also be based on a new DSA and the assessment of possible debt relief measures mentioned above. The possible debt relief will be delivered at the end of the programme in mid-2018 and the scope will be determined by the Eurogroup on the basis of a revised DSA in cooperation with the European Institutions for purposes of taking into account the European policy framework, subject to full implementation of the programme.

The Eurogroup stands ready, in line with usual practice, to support the completion of future reviews provided that the policy package considered today, including the contingency mechanism, is implemented as planned. The Eurogroup confirms that programme implementation, as well as policy conditionality and targets, will be reviewed regularly based on input from the institutions.

On July 1, President Obama announced that the United States had agreed to formally re-establish diplomatic relations with the Republic of Cuba and re-open embassies in our respective countries.

The last time we had an embassy in Cuba was in January of 1961, when we severed diplomatic relations at the height of the Cold War.

Today, more than 54 years later, Secretary of State John Kerry is traveling to Havana to re-open our embassy and take a historic step forward in our efforts to normalize relations with the Cuban government and people.

My visit to Havana, the first by a U.S. Secretary of State in 70 years, comes nine months after President Obama announced a new approach to relations with Cuba. It is an approach based on the ties that bind our people, the interests shared by our governments, and the mutual respect that should characterize relations between two proud nationsóeven when our policies collide.