Latest news with #IMCO
Muscat Daily
01-05-2025
- Business
- Muscat Daily
IMCO launches new MSc programme
Suhar – The International Maritime College Oman (IMCO) marked a significant academic milestone with the official launch of its Master of Science (MSc) in Process Plant Technology and Management. Held at the Crowne Plaza Ballroom in Suhar City, the ceremony attracted a distinguished audience of industry leaders, senior academics, alumni and prospective students, all united in a shared vision of advancing engineering leadership in line with Oman's Vision 2040. Aligning academia with industry needs The launch event, brought together industry experts, academics, alumni, and students. The ceremony opened with a recitation from the Holy Quran, followed by a welcome address from Capt. P. Rajkumar, IMCO Dean, who stressed the need for academic programmes that reflect real-world industry demands. Dr Salim al Araimi, Deputy Vice Chancellor, highlighted IMCO's role in fostering innovation and supporting Oman Vision 2040. Keynote speaker Faiz al Jabri of OQ addressed the future of Oman's process industry, calling for skilled engineers who can lead transformation. Dr Jimoh K. Adewole, Head of Process Engineering, detailed the MSc programme's practical and flexible design, tailored for working professionals. It covers advanced process engineering, digitalisation, safety, risk management, and sustainability. Alumna Eng. Azza al Subhi shared her success story, while Prof. Ramachandran K. P. underlined the importance of graduate education in building national capacity. The launch concluded with a networking session, reinforcing links between academia, industry, and future postgraduates seeking to enhance their careers while contributing to Oman's industrial advancement.
Yahoo
24-03-2025
- Health
- Yahoo
In Mexico, the Push for a National Care System Is Gaining Momentum
At the heart of unpaid care work in Mexico lies a paradox: The labor sustains the economy, even as it creates barriers to women joining the workforce. All told, the value of uncompensated domestic labor in Mexico amounts to more than 26 percent of GDP, outpacing both the manufacturing sector and trade, according to the country's statistics agency. Yet roughly 20 million Mexican women are not employed because they are busy providing that unpaid labor. Now, a push to build a national care system seeks to recognize and rebalance that work by creating a network of services covering care for children, people with disabilities, the elderly—and the caretakers themselves. President Claudia Sheinbaum, Mexico's first woman head of state, created a Women's Secretariat that, among other tasks, is charged with building the system. And earlier this month, one of the country's main opposition parties said it would introduce an initiative enshrining the right to care in the Constitution. But the devil is in the details, and building a national care system will take time and resources. Can Mexico get there? The effort to recognize 'the right to care, to be cared for, and care for oneself' is not new in Latin America. From the 2007 Quito Consensus on through multiple regional women's summits since then, it has been a focus of attention, and several Latin American countries have taken steps to develop care systems. In 2015, Uruguay became the first country in the region to make such a system law, while others—from Costa Rica to Colombia to Chile—are developing national systems with services ranging from early education programs and job training for people with disabilities, to day centers where the aging can get care and socialize. Beyond care delivery, another goal is to close gender gaps: Across the region, women spend almost triple the amount of time that men do on unpaid domestic and care work. To get more in-depth news and expert analysis on global affairs from WPR, sign up for our free Daily Review newsletter. Nowhere in Latin America is that gap between men and women bigger than in Mexico, where women devote, on average, 43 hours a week to unpaid labor—the highest in the region. 'If we really want to work at guaranteeing substantive equality, we have to make progress in removing the care burdens that still fall on women,' says Martha Tagle, a former federal deputy with the Citizen's Movement, or MC, party, in an interview. Those burdens come with an economic cost, creating a stubborn obstacle to getting women into Mexico's workforce. Over the past decade, Mexican women's labor participation grew by just 3 percent to 46 percent, lagging men's participation by 30 points. At that rate, it will take 56 years for the country to catch up to the OECD average of 67 percent when it comes to women in the workforce, according to the Mexican Institute for Competitiveness, or IMCO, think tank. But closing the gap faster would come with a bonus: IMCO estimates that Mexico's GDP would be 3.7 percent higher if it hit the OECD average by 2035. As Mexico faces the headwinds of U.S. tariff threats and stagnant growth, closing the workforce gap represents an economic opportunity. For that reason alone, a care system is 'fundamental,' says Odracir Barquera, CEO of the Mexican Automotive Industry Association and previously an adviser to a Mexican senator on women's economic inclusion. 'The problem is that the proposal has to be accompanied by resources … because one part can be supplied by the employer, but the other part needs to involve state infrastructure.' Some steps toward laying the foundation for that infrastructure have been taken. When Sheinbaum was sworn in as president in October 2024, her inauguration speech included a pledge to implement a national care system through existing health and social service agencies, starting with a dozen childcare centers for day workers and factory employees in the border city of Ciudad Juarez starting later this year. The plan is to subsequently expand these centers to other cities. But financing and access remain open questions, given that 55 percent of working women are informally employed in Mexico, limiting their use of social services. Then there's the question of the price tag. The Inter-American Development Bank, which announced its backing of the country's care system in December, estimates that building one will cost between 1 percent and 3 percent of GDP. But despite the long-term payoffs, Sheinbaum's government has entered a phase of post-election belt-tightening. 'There isn't the budget, infrastructure, or public policy to complete [a care system] during this six-year presidential term,' Secretary of Women Citlalli Hernandez told reporters earlier this month. 'But we believe six years is enough to lay a path.' Thus far, that path has not involved a legal route at the national level. Days within taking office, Sheinbaum unveiled a series of reforms aimed at guaranteeing substantive equality for women. The measures, since approved, included closing the pay gap and reducing violence, but not a care system. Mexico's lower house of Congress approved a reform to build one in 2020, but the measure stalled in the Senate. The MC party is now pushing to revive the reform in the upper house, as well as urging Mexico's 32 states to recognize the right to care. A number of states have already taken steps in that direction. In 2017, Mexico City established the right to care in its constitution. Some of the country's most populous states, such as Jalisco and Estado de Mexico, have adopted reforms to build state care systems in the past couple years, while several cities are taking up the task on a municipal level, responding to local needs. Melissa Ayala, a lawyer focused on constitutional law and feminist legal theory, argues that a subnational approach could be the best way to build Mexico's care system from the ground up. 'Of course, we all want a national care system,' says Ayala. 'But when it comes time to put pencil to paper and figure out how you're going to create it—where the money will come from, who will be in charge, how you're going to operate it—it gets very complicated.' Instead, she suggests, implementing small programs at a local level and building toward a national system over a decade or so offers a more promising pathway. Regardless of the route, the incentive to build a care system in Mexico will continue to grow, given that nine out of 10 people who leave the workforce to meet caretaking demands are women in the country. With numbers like that, expect the demand to persist. Carin Zissis is a fellow at the Woodrow Wilson International Center for Scholars' Mexico Institute and editor-in-chief at AS/COA Online, the website of the Americas Society/Council of the Americas. The post In Mexico, the Push for a National Care System Is Gaining Momentum appeared first on World Politics Review.
Euronews
12-03-2025
- Business
- Euronews
Lawmakers to scrutinise AI influence on finance, copyright
The reports come as the financial sector and publishers have been calling for clarity on how the AI Act applies to their industries. ADVERTISEMENT The European Parliament will begin work on two own-initiative reports on the impact of artificial intelligence on the financial sector and on copyright, after they were approved by chairs of political groups last week, sources have told Euronews. The first, to consider the 'Impact of artificial intelligence on the financial sector' will be drafted by lawmaker Arba Kokalari (Sweden/EPP) and was requested by the Committee on Economic and Monetary Affairs (ECON) with input from the Internal Market Committee (IMCO), Parliament sources confirmed. Work on the AI Act – the framework that regulates AI via a risk-based approach – last year was mainly carried out by the IMCO and the Civil Liberties Committee (LIBE). The rules started gradually applying last year and will be fully in force in 2027. Last June, the European Commission launched a consultation and a workshop series to seek input from stakeholders on the use of AI in finance to help assess risks related to the implementation of the AI Act, but it has not proposed any concrete action for the sector. Earlier this month, NGO Finance Watch warned about the possible conflict between AI functions and the principles of financial regulation. Without clear rules and accountability mechanisms, the use of AI in financial services 'introduces risks that are difficult to detect and control, threatening consumer protection and market stability while undermining trust in the wider financial system,' Finance Watch said. Copyright The second report – both will not be legally binding – 'Copyright and Generative AI: opportunities and challenges', was requested by the Legal Affairs Committee (JURI), and will be drafted by Axel Voss (Germany/EPP). 'During the AI Act negotiations, nobody wanted to talk about copyright. Now, writers, musicians and creatives are left exposed by an irresponsible legal gap. What I do not understand is that we are supporting big tech instead of protecting European creative ideas and content,' Voss said in a post on LinkedIn earlier last month. Complications surrounding AI and copyright arose during the drafting of a proposed set of rules for providers of General-Purpose Artificial Intelligence (GPAI) - a process still ongoing. The Code of Practice on GPAI should help providers of AI models – tools that can perform many tasks such as ChatGPT, Google Gemini and picture application Midjourney – comply with the EU's AI Act, but industry, including rightsholders expressed concerns about contradictions with copyright law.
Euronews
28-02-2025
- Business
- Euronews
EU lawmakers claim US visit helped smooth differences on tech regulation
The Internal Market Committee of the European Parliament (IMCO) visiting the US this week to meet with US policymakers and stakeholders has claimed it was able to 'clarify some misunderstandings' with regard to EU laws amid an ongoing backlash from US Big Tech. 'Our European laws are the result of a democratic process. There is a broad consensus that we cannot backtrack on our digital rulebook, made with the European citizens and businesses in mind and not to appease American 'Big Tech' oligopolies,' said MEP Anna Cavazzini (Germany/Greens/EFA), the chair of IMCO, in a statement. The visit, which took place from 24 to 28 February, comes in the wake of heavy criticism of EU tech regulation from the Republican administration of President Donald Trump. Vice President JD Vance, who spoke in Paris at the AI Action Summit earlier this month, said the US will not accept others "tightening the screws" on US companies. In addition, Big Tech companies, including Meta, seem keen to co-opt Trump into pushing back against rules affecting online platforms, including the EU's AI Act, Digital Services Act (DSA) and Digital Markets Act (DMA). Cavazzini said that while Europe has witnessed 'aggressive communication' from the US, these calls do not represent the views of 'the majority of stakeholders, but rather only those of powerful tech giants in Silicon Valley'. 'Smaller US businesses confirmed that they benefit from the Digital Markets Act establishing conditions in the EU that are favourable to all market actors and incentivise innovation,' she said. Industry also spoke out against the US criticism. EU consumer group BEUC said that 'the EU's tech laws are essential to address the overwhelming power of Big Tech giants.' 'The EU must stand firm and enforce laws adopted by its sovereign and democratic institutions. [...] It is extremely worrying to see the US Administration threatening trade retaliation in response to lobbying by Big Tech companies,' Agustín Reyna, Director General of BEUC, said in a statement. The IMCO delegation said the meetings with members of US Congress, representatives from the White House Office of Science and Technology Policy, the State Department, the Federal Trade Commission, as well as think tanks, were constructive. The delegation also consisted of Andreas Schwab (Germany/EPP), Pablo Arias Echeverría (Spain/EPP), Christel Schaldemose (Denmark, S&D), Klára Dostálová (Czechia/PfE), Piotr Müller (Poland/ECR), and Sandro Gozi (France/Renew).
Associated Press
27-02-2025
- Business
- Associated Press
WISE Trust Delivers Strong 11.3% Net Return, Boosting Total Assets to $4.46 Billion in 2024
TORONTO, Feb. 27, 2025 /CNW/ - WISE Trust, the leading pension administrator of retirement solutions for Workplace Safety and Insurance Board Employees in Ontario, is pleased to announce a robust net return of 11.3% for the fiscal year 2024. This strong investment performance increases assets of the WSIB Employees' Pension Plan (Plan) to a total of $4.46 billion, enhancing long-term sustainability of the Plan and its ability to deliver financial security to members in retirement. In a year marked by economic challenges and market volatility, WISE Trust remained committed to delivering solid financial outcomes for members by applying prudent risk management and disciplined investment strategies which produced exceptional returns. This acceleration in performance highlights the value of the Plan's collaborative partnership with its exclusive investment manager, Investment Management Corporation of Ontario (IMCO), in providing the Plan with diversification of investments across asset classes, contributing to the boost in annual net return. Christopher Brown, Chief Executive Officer of WISE Trust says, 'The return for 2024 was led by strong results in our Canadian, global and emerging market public equities, and global credit portfolios. The WISE Trust Board of Trustees and management team remain diligently focused on balancing risk and reward to deliver strong and sustainable outcomes for members. These results in implementing the Plan's asset strategy further demonstrate the value of WISE Trust's collaborative partnership with IMCO.' 'We are very pleased to have achieved this solid 11.3% net return on WISE Trust's investment portfolio for 2024,' said Mr. Brown. He added, 'Despite a challenging economic environment, this impressive return aids in enhancing benefit security for our 10,000+ members and beneficiaries. We have again this year comfortably exceeded the target return for the portfolio, which will serve the Plan well as we navigate the uncertainty that has characterized the early months of 2025.' About WISE Trust The Workplace Safety and Insurance Board Employees' Pension Plan (the Plan) is a jointly sponsored defined benefit pension plan co-sponsored by the Workplace Safety and Insurance Board (Ontario) and the Ontario Compensation Employees Union, CUPE Local 1750 (OCEU). The WISE Trust Board of Trustees (made up of individual trustees appointed by the WSIB and OCEU) is the legal administrator of the Plan. On July 1, 2020, the Plan became the first pension plan in Ontario to convert from a single employer pension plan to a jointly sponsored pension plan. IMCO is the exclusive investment manager for the Plan, operating to implement the investment policy and strategic asset allocation set by the WISE Trust Board of Trustees.
