Fortrea Establishes Industry Partnership with Veeva and Advarra to Streamline Patient and Site Clinical Trial Experience

DURHAM, N.C., Jan. 09, 2024 (GLOBE NEWSWIRE) — Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced an industry partnership with founding members Veeva Systems Inc., a leading provider of industry cloud solutions for the global life sciences industry, and Advarra, a leading provider of clinical research technology for clinical research investigator sites and sponsors, to deliver an integrated patient– and site–centric solution that streamlines the clinical trial experience.

In an industry faced with complex challenges to clinical trial execution, Fortrea is establishing an alliance of industry partners—beginning with founding members, Veeva and Advarra—to tackle some of these challenges head–on. Many sites are burdened by administrative operations that have multiple, complex technologies with limited interoperability. This impacts their ability to focus on what matters most—the patients—and improving their recruitment and experience participating in clinical studies.

Fortrea, Veeva and Advarra are partnering to offer a seamless, unified technology solution that integrates best–in–class technologies and leverages Fortrea’s process expertise. This will help ease the administrative burden for patients and sites and increase the accessibility of clinical trials for the public.

“We heard from our Site Advisory Board that the multitude of technologies used on a study is one of their greatest challenges,” said Fortrea Chief Operating Officer and President of Clinical Services Mark Morais. “Working with industry–leading partners and founding members, Veeva and Advarra, we’re taking action to remove complexities so we can address the pain points of sites and patients and make a difference. We are leveraging our unique vantage point in the industry that enables us to layer our expertise over the tech and data ecosystems from best–in–class partners—adding to our alliance as we go—to dramatically simplify the experience for patients, sites and sponsors.”

For sites, the partnership is set to deliver:

  • a cloud–based, simplified sign–on experience for Fortrea–run studies
  • access to study technologies through a single dashboard
  • a unified environment with a single repository for study documents and records

For patients, the solution is being designed to offer:

  • easy–to–access, step–by–step, visit–by–visit support and education throughout a patient’s trial journey
  • a simplified user experience through a single platform
  • self–referral functionality to search and find studies in their disease area of interest
  • ongoing patient support and education via an online portal or mobile app
  • a simplified mobile and web application for consenting and responding to outcome surveys

“Veeva is helping to advance clinical trials with connected applications that reduce the burden of participating for patients, streamline execution for research sites and increase transparency for sponsors,” said Jim Reilly, vice president, Veeva Development Cloud Strategy. “Extending our partnership with Fortrea to deliver Veeva Clinical Platform applications will meet the unique needs of patients, sites and sponsors while significantly improving study data quality and collaboration with sites.”

“Advarra’s mission is to break the silos that impede clinical research, so we are excited to provide our Longboat solution and IRB services as part of this innovative and collaborative partnership aimed at reducing site and patient burden,” said Elisa Cascade, chief product officer at Advarra.  “By leveraging our Longboat solution, Fortrea will deliver a reimagined clinical research experience that will improve both protocol compliance and site and patient engagement throughout the clinical trial process.”

Learn more about how Fortrea is driving healthcare innovation throughout the world at Fortrea.com. For more information on the technology platforms, visit Veeva Clinical Platform and Advarra Longboat.  

About Fortrea

Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development and patient access solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients in need. Fortrea provides phase I–IV clinical trial management, clinical pharmacology, differentiated technology–enabled trial solutions and post–approval services. Fortrea’s solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team of about 19,000 people working in more than 90 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter) @Fortrea.

Fortrea Contacts:
Fortrea Media: Galen Wilson – 703–298–0802, media@fortrea.com
Fortrea Media: Kate Dillon – 646–818–9115, kdillon@prosek.com 


GLOBENEWSWIRE (Distribution ID 9015283)

Nyxoah Announces Preliminary Results for the Fourth Quarter and Full Year 2023

Nyxoah Announces Preliminary Results for the Fourth Quarter and Full Year 2023

Mont–Saint–Guibert, Belgium – January 9, 2024, 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced certain preliminary, unaudited results for the fourth quarter and full year ended December 31, 2023.
  
Preliminary, Unaudited Fourth Quarter and Full Year 2023 Results

  • Revenue for the fourth quarter of 2023 is anticipated to be approximately €1.8 million, a 40% increase over the fourth quarter of 2022 and an 87% increase over the third quarter of 2023.
  • Revenue for the full year 2023 is anticipated to be approximately €4.3 million, a 41% increase over the full year 2022.
  • Ended the year with 48 active German accounts.

“We are excited with the strong preliminary fourth quarter sales, which are anticipated to be nearly double from last quarter. This anticipated growth reflects both strong underlying demand for Genio and focus on streamlining the patient referral pathway through initiatives such as our direct–to–consumer online campaigns launched in March,” commented Olivier Taelman, Chief Executive Officer. “This performance throughout 2023 sets the stage for an exciting 2024, as in a few months we expect to report data from our DREAM US pivotal trial, file for FDA approval, begin preparations to enter the US market, and begin to see contribution from the ResMed commercial partnership in Germany.”

The preliminary, unaudited revenue results described in this press release are estimates only and are subject to revision until Nyxoah reports its full financial results for 2023 in its Annual Report on Form 20–F.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient–centered, leadless and battery–free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward–looking statements
Certain statements, beliefs and opinions in this press release are forward–looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; reporting data from Nyxoah’s DREAM US pivotal trial; filing for FDA approval; entrance to the US market, contributions from the ResMed commercial partnership in Germany; and the Company's results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward–looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward–looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20–F for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 22, 2023, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward–looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward–looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward–looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward–looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward–looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward–looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward–looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Attachment


GLOBENEWSWIRE (Distribution ID 1000908020)

Nyxoah Annonce ses Résultats Préliminaires pour le Quatrième Trimestre et l'Année 2023

Nyxoah Annonce ses Résultats Préliminaires pour le Quatrième Trimestre
et l'Année 2023

Mont–Saint–Guibert, Belgique – 9 janvier 2024, 22h05 CET / 16h05 ET – Nyxoah SA (Euronext Bruxelles/Nasdaq : NYXH) (« Nyxoah » ou la « Société ») opère dans le secteur des technologies médicales et se concentre sur le développement et la commercialisation de solutions innovantes destinées à traiter le Syndrome d’Apnées Obstructives du Sommeil (SAOS). La Société a annoncé aujourd'hui certains résultats préliminaires, non audités, pour le quatrième trimestre et l'ensemble de l'exercice clos le 31 décembre 2023.

Résultats préliminaires et non audités du quatrième trimestre et de l'année 2023

  • Le chiffre d'affaires du quatrième trimestre 2023 devrait s'élever à environ 1,8 million d'euros, soit une augmentation de 40 % par rapport au quatrième trimestre 2022 et de 87 % par rapport au troisième trimestre 2023.
  • Le chiffre d’affaires pour l'ensemble de l'année 2023 devrait s'élever à environ 4,3 millions d'euros, soit une augmentation de 41 % par rapport à l'ensemble de l'année 2022.
  • 48 centres allemands actifs à la fin de l’année 2023.

“Nous sommes ravis des ventes préliminaires élevées du quatrième trimestre, qui devraient presque doubler par rapport au trimestre précédent. Cette croissance anticipée reflète à la fois la forte demande sous–jacente pour Genio et l'accent mis sur la rationalisation du parcours d'orientation des patients grâce à des initiatives telles que nos campagnes en ligne directes auprès des consommateurs lancées en mars”, a commenté Olivier Taelman, Chief Executive Officer. “Cette performance durant 2023 prépare le terrain pour une année 2024 passionnante, puisque dans quelques mois, nous nous attendons à communiquer les données de notre étude US pivot DREAM, déposerons une demande d'approbation auprès de la FDA, entamerons les préparatifs pour entrer sur le marché américain et commencerons à percevoir la contribution du partenariat commercial avec ResMed en Allemagne.”

Les résultats préliminaires et non vérifiés décrits dans le présent communiqué de presse ne sont que des estimations et peuvent être révisés jusqu'à ce que Nyxoah publie ses résultats financiers complets pour 2023 dans son rapport annuel sur le formulaire 20–F.

À propos de Nyxoah
Nyxoah opère dans le secteur des technologies médicales. Elle se concentre sur le développement et la commercialisation de solutions innovantes destinées à traiter le Syndrome d’Apnées Obstructives du Sommeil (SAOS). La principale solution de Nyxoah est le système Genio®, une thérapie de neurostimulation du nerf hypoglosse de nouvelle génération centrée sur le patient, sans sonde ni batterie implantée et destinée à traiter le Syndrome d’Apnées Obstructives du Sommeil (SAOS), le trouble respiratoire du sommeil le plus courant au monde. Ce dernier est associé à un risque accru de mortalité et des comorbidités cardiovasculaires. Nyxoah est motivé par la vision selon laquelle les patients souffrant de SAOS devraient profiter de nuits reposantes et se sentir en mesure de vivre pleinement leur vie.

À la suite de la finalisation probante de l’étude BLAST OSA, le système Genio® a reçu le marquage européen CE en 2019. Nyxoah a réalisé deux introductions en bourse avec succès : sur Euronext en septembre 2020 et au NASDAQ en juillet 2021. Suite aux résultats positifs de l'étude BETTER SLEEP, Nyxoah a obtenu l’approbation marquage CE pour le traitement des patients atteints de Collapse Circonférentiel Complet (CCC), actuellement contre–indiqué dans les thérapies concurrentes. De plus, la Société mène actuellement l'étude pivot DREAM IDE en vue de l'approbation FDA et de la commercialisation aux États–Unis.

Pour plus d’informations, visitez http://www.nyxoah.com/

Attention – Marquage CE depuis 2019. Dispositif expérimental aux États–Unis. Limité par la loi fédérale américaine à une utilisation expérimentale aux États–Unis.

Déclarations prospectives
Certaines déclarations, croyances et opinions contenues dans le présent communiqué de presse sont de nature prospective et reflètent les attentes actuelles de la société ou, le cas échéant, des administrateurs ou de la direction de la société concernant le système Genio®, les études cliniques prévues et en cours sur le système Genio®, les avantages potentiels du système Genio® ; les objectifs de Nyxoah en ce qui concerne le développement, la voie réglementaire et l'utilisation potentielle du système Genio® ; l'utilité des données cliniques pour l'obtention éventuelle de l'approbation du système Genio® par la FDA ; la communication des données de l'essai pivot DREAM US de Nyxoah ; la demande d'autorisation de la FDA ; l'entrée sur le marché américain, les contributions du partenariat commercial de ResMed en Allemagne ; et les résultats d'exploitation, la situation financière, les liquidités, les performances, les perspectives, la croissance et les stratégies de la Société. De par leur nature, les déclarations prévisionnelles impliquent un certain nombre de risques, d'incertitudes, d'hypothèses et d'autres facteurs qui pourraient faire en sorte que les résultats ou événements réels diffèrent matériellement de ceux exprimés ou sous–entendus dans les déclarations prévisionnelles. Ces risques, incertitudes, hypothèses et facteurs pourraient avoir une incidence négative sur les résultats et les effets financiers des plans et des événements décrits dans le présent document. En outre, ces risques et incertitudes comprennent, sans toutefois s'y limiter, les risques et incertitudes énoncés dans la section “Facteurs de risque” du rapport annuel de la société sur le formulaire 20–F pour l'exercice clos le 31 décembre 2022, déposé auprès de la Securities and Exchange Commission (“SEC”) le 22 mars 2023, et des rapports ultérieurs que la société dépose auprès de la SEC. Une multitude de facteurs, y compris, mais sans s'y limiter, les changements dans la demande, la concurrence et la technologie, peuvent faire en sorte que les événements, les performances ou les résultats réels diffèrent de manière significative de tout développement anticipé. Les déclarations prospectives contenues dans le présent communiqué de presse concernant des tendances ou des activités passées ne constituent pas des garanties de performances futures et ne doivent pas être considérées comme une déclaration selon laquelle ces tendances ou activités se poursuivront à l'avenir. En outre, même si les résultats ou développements réels sont conformes aux déclarations prospectives contenues dans le présent communiqué de presse, ces résultats ou développements peuvent ne pas être représentatifs des résultats ou développements des périodes futures. Aucune déclaration ou garantie n'est donnée quant à l'exactitude ou à la sincérité de ces déclarations prospectives. En conséquence, la société décline expressément toute obligation ou tout engagement de publier des mises à jour ou des révisions des déclarations prospectives contenues dans le présent communiqué de presse à la suite d'un changement des attentes ou d'un changement des événements, conditions, hypothèses ou circonstances sur lesquels ces déclarations prospectives sont basées, sauf si la loi ou la réglementation l'exige expressément. Ni la Société, ni ses conseillers ou représentants, ni aucune de ses filiales, ni les dirigeants ou employés de ces personnes ne garantissent que les hypothèses sous–jacentes à ces énoncés prospectifs soient exemptes d'erreurs et n'acceptent aucune responsabilité quant à l'exactitude future des énoncés prospectifs contenus dans le présent communiqué de presse ou à la survenance réelle des développements prévus. Vous ne devriez pas accorder une confiance excessive aux déclarations prospectives, qui ne sont valables qu'à la date du présent communiqué de presse.

Contacts :
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Pièce jointe


GLOBENEWSWIRE (Distribution ID 1000908020)

Prime Minister of Dominica Touts Unparalleled Benefits of Citizenship by Investment Programme

Roseau, Jan. 09, 2024 (GLOBE NEWSWIRE) — Dominica’s Citizenship by Investment Programme continuously builds on trust and responsibility, where stringent regulations and unwavering commitment promise not just citizenship but a future of sustainable growth and transformative national development 

During a recent press conference, Dominica’s Prime Minister, Honourable Dr Roosevelt Skerrit, asserted that the CBI Programme has provided exceptional advantages to its citizens, surpassing any other country worldwide. 

Visible Transformations Across Dominica’s Communities 

Honourable Dr Skerrit emphasised the tangible impact of the CBI Programme on Dominican communities. Citing specific examples such as Bellevue Chopin, Center in Grandbay, Castle Bruce, and San Sauveur, he highlighted the construction of hundreds of homes and the implementation of new water systems, all funded via the CBI Programme. 

Elevating Lives through Affordable Housing 

Honourable Dr Skerrit disclosed the average cost of a home facilitated by the CBI Programme, noting that this initiative has lifted individuals out of poverty by providing them with new homes. The Prime Minister also highlighted the substantial financial assistance provided to citizens post–hurricane events allocated for roof and home repairs. 

Strategic Investments for National Development 

In addition to housing, Honourable Dr Skerrit pointed out the significant investments made in various sectors, including manufacturing, agriculture, and small businesses. The Prime Minister emphasised the CBI funds allocated at low–interest rates through the AID Bank to foster economic growth and job creation. 

Recent developments of the international airport have continued since last year. The mobilisation works, including the clearing of the 500–acre site, road development, and various soil disposal sites, are nearly complete. Accommodation, offices, workshops, storage facilities, and utilities have reached 99 per cent completion, with ongoing work on the asphalt mixing plant and crusher. 

Honourable Dr Skerrit emphasised ongoing communication with major airlines to provide updates on project development and interim progress at Douglas–Charles Airport. The International Airport Project, part of Dominica's transformative initiatives, involves a contract signed with Montreal Management Consultants Development Ltd (MMCE) in June 2021.  

Honourable Dr Skerrit anticipates continued progress on the world's longest Cable Car Project and the commencement of the Cabrits Marina in Portsmouth this year. 

Dominica has achieved world–class healthcare infrastructure, marked by new facilities, cutting–edge equipment, and strategic initiatives. The nation's focus on sustainable and disaster–resistant medical infrastructure has positioned it as a leader in the Caribbean. 

The Marigot Hospital is funded by the CBI ProgrammeandProgramme and serves the Marigot Health District, offering a 40,000 square feet facility with 75–bed capacity, ambulatory services, emergency care, ICU, maternity and paediatric care, laboratory and radiology services, and a trauma centre. 

There is a network of twelve medical centres strategically placed to provide high–quality healthcare across the island, reducing travel time and improving emergency response. 

Dominica's comprehensive and well–thought–out approach to healthcare sets it apart in the Caribbean, serving as a model for nations aspiring to emulate its success. The new facilities and initiatives demonstrate a commitment to the well–being of citizens and effective healthcare management. 

Diverse Societal Benefits Beyond Infrastructure 

The Prime Minister expanded on the multifaceted benefits stemming from the CBI Programme. These include substantial investments in infrastructure, the creation of health centres, support for students studying overseas, and the implementation of the National Employment Programme (NEP). 

Geothermal Project: A Sustainable Energy Future 

Honourable Dr Skerrit clarified that funds from the CBI Programme have been instrumental in financing the Geothermal Project. This strategic investment aims to ensure energy security, reduce energy costs for consumers, and attract further investments into the country. 

The geothermal power plant, expected to be operational by the end of 2025, will sell electricity to DOMLEC, reducing the country's reliance on fossil fuels. This initiative aims to stabilise and reduce domestic electricity tariffs, decarbonise power generation, and responsibly utilise Dominica's geothermal resources. 

The Government of Dominica and Dominica Electricity Services (DOMLEC) entered into an agreement with a US company, Ormat Technologies Inc., to develop a ten–megawatt geothermal power plant in Laudat. The agreement, signed during COP 28 in Dubai, outlines Ormat's financing and operation of the plant and geothermal wells for 25 years. The Government will retain ownership of invested assets, with the transfer to occur after the contract period. 

Ormat, with over 50 years of geothermal experience, will contribute its expertise, and the partnership signifies a significant step in Dominica's sustainable energy goals.  

The Government of Dominica is nearing completion of preparations for commercial geothermal operations. Seven geothermal wells have been drilled in Laudat, Wotten Waven, and Trafalgar, revealing a resource capable of supporting ten megawatts of electricity generation in Laudat.  

Additionally, the Government has given approval for the design of a robust and efficient electricity transmission network, connecting the geothermal power plant in the Roseau Valley to Fond Cole, linking both the geothermal and hydroelectric power plants to the national grid. These developments mark significant progress in Dominica's efforts to harness geothermal energy for sustainable electricity generation. 

Newly Introduced Major Changes to the CBI Programme Regulations 

The Commonwealth of Dominica's government has introduced a comprehensive set of regulations to strengthen its CBI Programme and the Citizenship by Investment Unit (CBIU). The new guidelines aim to reinforce the legal framework, emphasising due diligence and integrity in the CBI Programme. 

Key changes in the regulations include the following: 

Authorised Agents (AAs) 

Must be Dominican citizens and maintain registered offices in Dominica with at least three staff, they need to undergo independent due diligence checks while complying with increased registration and renewal fees. Stricter regulations, higher application requirements, and increased fees are now applied. These include formalised guidelines to ensure compliance to regulations  

Due Diligence 

Mandatory interviews for applicants and dependants over sixteen with a  commitment to advancing due diligence protocols to meet international best practices. 

Dependants and Name Changes 

Adult children must be fully supported to be eligible dependants in an application. Name changes can only be applied after five years of naturalisation.  

The Government is committed to transparency and responsibility in managing CBI funds for the future of the country. 

Attachment


GLOBENEWSWIRE (Distribution ID 9015020)

Institutional Investors’ Enthusiasm Grows for Innovative Private Equity Fund

KUALA LUMPUR, Malaysia, Jan. 09, 2024 (GLOBE NEWSWIRE) — The COVID–19 pandemic has unleashed unprecedented economic turmoil, resulting in contracting markets and dwindling returns worldwide.

Private Equity and other investment sectors find themselves navigating an exceptionally challenging and unpredictable landscape. In an environment with limited profitable opportunities, preserving dry powder appears to be a prudent choice. An alternative, however, has emerged—a haven for investors with substantial resources.

Private Equity and other investment sectors are operating
in challenging and unpredictable environments today

Introducing GDP Capital's PE–BOND Fund LP, one of Private Equity's latest offerings poised to make waves on the international stage. In today's dismal or negative return environment, this fund has the potential to significantly enhance your return on investment while offering a sense of security.

GDP Capital's investment structure is nothing short of unique, possibly the first of its kind. Here's why it stands out:

  • A Private Equity structure fortified with the security of a bond.
  • Investments are channelled into government–approved projects.
  • Capital invested is backed by government guarantees and repaid within a 10–year horizon.
  • GDP Capital secures equity in the involved companies and their respective projects, each contributing dividend.

The Fund mandates a minimum commitment above US$25 million, making it ideally suited for Sovereign Wealth Funds, Retirement Funds, Institutional Investors, Endowments, Insurance Companies, Banks, Family Offices, and major investment firms.

A Balance of High Returns and Capital Safety:

“While structuring the fund, we overcame numerous hurdles to satisfy governmental, legal, regulatory, and investor requirements. After two years of meticulous development, potential investors are displaying keen interest,” commented Gurmit S. Sidhu, the founder and Managing Director of GDP Capital Limited, on the fund and its offerings.

With an adept team comprising tax and legal advisors, investment bankers, and political analysts, GDP Capital Limited stands ready to support top–tier investors in surpassing their investment objectives.

This unique investment Fund, set to launch in January 2024, is spearheaded by GDP Capital Limited, a Private Equity Fund Manager incorporated in the British Virgin Islands (BVI) and regulated by the BVI Financial Services Commission (BVI FSC).

GDP PE–BOND Fund LP represents an extraordinary opportunity for investors seeking capital safety and accelerated returns.

Explore the Merits Further:

Astute investors who recognize the benefits offered by GDP Capital may wish to delve deeper into its merits. For additional details, please visit: www.gdpcapitalltd.com

About GDP Capital Limited:

GDP Capital Limited is a Private Equity Fund Manager incorporated in the British Virgin Islands (BVI) and regulated by the BVI Financial Services Commission (BVI FSC). The firm collaborates with stable and investor–friendly governments seeking funding for priority projects to expedite economic development and achieve real GDP growth.

Funding is extended for viable and strategically significant government projects contributing to sustainable economic growth. While initially focusing on Asia, the company has expansion plans for other global regions. Given the substantial funding requirements of governments, GDP Capital provides institutional investors with the assurance of government guarantees, facilitating investments ranging from US$100 million to US$1 billion.

Media Contact:
Investor Relations
pr@gdpcapitalltd.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a9a601f–7cd5–459c–b4f7–f42d96113ccd


GLOBENEWSWIRE (Distribution ID 9014950)

Ready or Not, America, Your Population Is Also Aging

The aging of America’s population is expected to have mounting effects on government programs, businesses, healthcare institutions, communities, families and individuals. Credit: Maricel Sequeira/IPS

The aging of America’s population is expected to have mounting effects on government programs, businesses, healthcare institutions, communities, families and individuals. Credit: Maricel Sequeira/IPS

By Joseph Chamie
PORTLAND, USA, Jan 9 2024 – As the signs of population aging are crystal clear and widely available, many countries are taking steps to address the far-reaching effects of that momentous demographic trend. A notable exception is the United States, a country that seems neither ready nor willing to deal with the aging of its population.

America’s government and its citizens appear ill-prepared to address the daunting consequences of population aging for the country’s economy, workforce and entitlement programs. Among those challenging consequences are the rising costs of programs for the elderly, the need for financial aid and long-term care for many older people and the dwindling financial resources of elderly households.

Many countries, including the United States, are well along in the demographic aging of their populations. While some countries, such as France, Germany, Italy, Japan and South Korea, have median ages above 40 years, other countries, including China, Russia, the United Kingdom and the United States, have median ages of nearly 40 years (Figure 1).

 

As the U.S. population continues to become older over the coming years, America’s elected officials, the private sector, social institutions, communities, families and individuals will be obliged to cope with the inevitable, momentous and far-reaching consequences of population aging

Source: United Nations.

 

America’s elected officials tend to avoid addressing population aging. It seems that by ignoring or paying little attention to population aging, its many weighty consequences will diminish or simply go away.

The consequences of population aging for America’s federal budget, its economy, workforce and the overall well-being of its citizens are not imaginary and will not go away by simply ignoring them. On the contrary, the aging of America’s population is expected to have mounting effects on government programs, businesses, healthcare institutions, communities, families and individuals

However, the consequences of population aging for America’s federal budget, its economy, workforce and the overall well-being of its citizens are not imaginary and will not go away by simply ignoring them. On the contrary, the aging of America’s population is expected to have mounting effects on government programs, businesses, healthcare institutions, communities, families and individuals.

In ten years, for example, the U.S. federal government is expected to be spending half its budget on those aged 65 years or older. That spending will be used to support elderly Americans largely for health care and retirement benefits. Without sufficient government assistance, many elderly Americans will have to forgo needed care or rely on the uncertain assistance and care from family and friends.

While a secure retirement is a widespread desire across America, the financial resources of most Americans are not sufficient to cover their retirement expenses. Among households headed by someone 55 years and older, nearly half of them lack some form of retirement savings. Also, close to 30 percent of those who are retired or nearing retirement do not have retirement savings or a defined benefit plan.

In addition, the health conditions of America’s elderly are both worrisome and costly. About 80 percent of Americans 65 or older have at least one chronic condition, with about 68 percent having two or more.

It is estimated that nearly a half of elderly Americans are affected by arthritis, a quarter have some type of cancer and a fifth have diabetes. A third of the elderly have cognitive issues with approximately half of them having dementia.

Millions of older Americans are struggling with health challenges and increasing numbers are in need of caregiving services. Many elderly Americans also find it challenging to obtain or pay for the additional services they need as they age.

It is estimated that approximately 70 percent of U.S. adults aged 65 years and older will require long-care at some point, with the average length of stay in long-term care about three years. In 2021, the average annual costs of long-term care in America ranged between $35,000 and $108,000.

The median age of the U.S. population, which was about 27 years in 1965, has reached a record high of nearly 40 years. The median age of America’s population is continuing to rise and is projected to be 43 years by mid-century.

In addition, the proportion of America’s population age 65 years or older is also expected to continue rising. Whereas approximately 9 percent of the U.S. population was 65 years or older in 1965 when the Medicare program was established, by 2022 the proportion had almost doubled to 17 percent. That proportion is expected to nearly double again by the century’s close when approximately one in three Americans will be 65 years or older (Figure 2).

 

As the U.S. population continues to become older over the coming years, America’s elected officials, the private sector, social institutions, communities, families and individuals will be obliged to cope with the inevitable, momentous and far-reaching consequences of population aging

Source: United Nations.

 

Furthermore, the U.S. will face noteworthy demographic aging turning points in the near future. Beginning in 2030, for example, all of America’s baby boomers will be older than 65 years. Also, in 2034 the share of America’s population age 65 years or older is expected to surpass that of children under age 18 year for the first time in the country’s history.

A major demographic force behind the aging of populations is low fertility. Whereas America’s fertility rate was nearly three births per woman in 1965, today it has declined to nearly a half child below the replacement level at 1.7 births per woman. Moreover, the country’s fertility levels are expected to remain well below the replacement level throughout the remainder of the century.

Increasing longevity among the elderly is also contributing to the aging of America’s population. U.S. life expectancies for males and females at age 65 years have risen markedly over the past sixty years. From 13 and 16 years for males and females in 1965, life expectancies at age 65 rose to 16 and 19 years by 2000 and further increased by 2022 to approximately 18 and 21 years, respectively. By mid-century, U.S. life expectancies at age 65 for males and females are expected to reach 20 and 22 years, respectively (Figure 3).

 

As the U.S. population continues to become older over the coming years, America’s elected officials, the private sector, social institutions, communities, families and individuals will be obliged to cope with the inevitable, momentous and far-reaching consequences of population aging

Source: U.S. Social Security Administration.

 

America’s major government programs for the elderly are being seriously affected by population aging. As a result of the increase in both the absolute and relative numbers of the elderly, the two largest programs, Medicare and Social Security, are rapidly approaching insolvency, which is expected in 6 and 13 years, respectively.

The U.S. Congress needs to act responsibly to address the expected funding imbalances and the insolvencies in those two programs. Not doing so would lead to across-the-board benefit cuts or abrupt changes to benefits or tax levels.

Democrats are by and large committed to maintaining funding for Social Security and Medicare, programs that were established by the democratic administrations of President Franklin Roosevelt and President Lyndon Johnson, respectively. The Democrats believe that all Americans have the right to a secure and healthy retirement and are committed to preserving Social Security and Medicare for future generations.

Over the years, public opinion polls have repeatedly demonstrated overwhelming support for those two programs. For example, approximately 80 percent of Americans support Social Security and oppose reducing benefits, and 70 percent are against increasing premiums for people enrolled in Medicare.

Republicans, in contrast, are reluctant to raise taxes and have resisted increasing funding for the government’s major entitlement programs. They claim that with Social Security and Medicare facing insolvency if cuts to benefits and costs are not made, those two programs will not be available for future generations. Republicans in general prefer the private sector, freedom of choice and individual responsibility, such as private retirement investment accounts and a voucher system for private health insurance.

Besides congressional actions, educational and community programs are needed to encourage responsible behaviors among Americans in preparing for and during old age. Men and women need to adopt behavior, take action and develop habits early on in their lives that promote their economic security, personal health and overall well-being in their retirement years.

In sum, the United States seems neither ready nor willing to deal with the aging of its population. But demography doesn’t care. As the U.S. population continues to become older over the coming years, America’s elected officials, the private sector, social institutions, communities, families and individuals will be obliged to cope with the inevitable, momentous and far-reaching consequences of population aging.

Joseph Chamie is a consulting demographer and a former director of the United Nations Population Division. He is the author of numerous publications on population issues, including his recent book, “Population Levels, Trends, and Differentials”.

فين-تك هولدينج 180 كابيتال تعين سامر أبو زهرة لقيادة مرحلة النمو المقبلة

دبي – الإمارات العربية المتحدة, Jan. 09, 2024 (GLOBE NEWSWIRE) — أعلنت اليوم شركة 180 كابيتال، الرائدة في قطاع التكنولوجيا المالية في دولة الإمارات العربية المتحدة، عن تعيين سامر أبو زهرة في منصب الرئيس التنفيذي للشؤون التجارية.

وسيقود أبو زهرة عملية تطوير الأعمال في 180 كابيتال، مع التركيز بشكل خاص على تقديم حلول التداول والإستثمار المبتكرة. وسوف يستفيد من الخبرة الجماعية لموارد 180 كابيتال، لإعادة تعريف الصناعة وتسهيل التواصل في جميع أنحاء الأسواق المالية الإقليمية والعالمية.

وقال كريم فرّا وزياد أبو جيب، المؤسسان المشاركان لشركة 180 كابيتال: “تحت قيادة سامر أبو زهرة، نحن واثقون من أن 180 كابيتال ستواصل تقديم حلول التكنولوجيا المالية المبتكرة وسوف تتميز في أسواق رأس المال، بل وستقوم بتغيير نموذج التداول والاستثمار وتجارب العملاء، فضلاً عن تعزيز الكفاءة وقابلية التوسع للمؤسسات المالية.

ومع تولي أبو زهرة القيادة، تستعد 180 كابيتال للكشف عن حل جديد يتميز بالمرونة والحداثة والتكامل السلس. وتهدف هذه المبادرة إلى تقديم نظام شامل متعدد الأصول يشمل مجموعة متنوعة من خيارات الاستثمار، بما في ذلك الأسهم المالية في بورصات الشرق الأوسط وشمال أفريقيا والبورصات العالمية (مع التركيز على بورصات الولايات المتحدة)، بالإضافة إلى تداول الخيارات والدخل الثابت والصناديق الإستثمارية وعقود السلع الآجلة والعملات المشفرة. ويهدف هذا النظام إلى إحداث تغيير جذري في هذا القطاع، وخاصة بالنسبة لشركات الخدمات المالية في دول مجلس التعاون الخليجي، وستوفر إمكانية الوصول العالمي إلى أكثر من 200 بورصة، وسيط مالي وأطراف مقابلة.

ومن خلال الاستفادة من مصادر التكنولوجيا الشاملة والميزات المتقدمة، يهدف النظام إلى أن يكون حلاً كاملاً لإدارة العملاء والكفاءة التشغيلية. ومن خلال التأكيد على حيادية الوسيط، فهو يمكّن العملاء من اختيار الوسطاء والأطراف المقابلة المفضلة لديهم وتصنيع تطبيقاتهم حسب الطلب باستخدام مجموعة واسعة من واجهات برمجة التطبيقات (API).

“بصفتي الرئيس التنفيذي للشؤون التجارية في 180 كابيتال، يسعدني أن أكون قادرًا على قيادة تطوير نظام تداول واستثمار يدمج القدرات الفريدة للمجموعة، ويقدم حلاً فريدا شاملاً للمشاركين في الأسواق المالية. وإنني أتطلع إلى المساهمة بخبرتي الواسعة لخلق قيمة أكبر لجميع المعنيين في هذا القطاع“.

يتمتع سامر أبو زهرة بما يقرب من ثلاثة عقود من الخبرة في مجال البنوك والخدمات المالية. قبل انضمامه إلى 180 كابيتال، شغل منصب الرئيس التنفيذي لشركة جي تي إن الشرق الأوسط، وشغل العديد من المناصب القيادية في طومسون رويترز وبنك إتش إس بي سي. وهو حاصل على شهادة البكالوريوس من جامعة اليرموك، وأكمل مؤخراً برنامج القيادة التنفيذية العليا في كلية هارفارد للأعمال.

  • 180 كابيتال هي شركة قابضة لديها خبرة في التداول عبر الإنترنت، وحلول تكنولوجيا البرمجيات المالية، والاستثمار المنهجي.

https://180cap.com/

للتواصل: info@180cap.com

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Fintech Holding 180 Capital Appoints Samer Abuzahra to Lead Its Next Growth Phase

DUBAI, United Arab Emirates, Jan. 09, 2024 (GLOBE NEWSWIRE) — 180 Capital, at the forefront of UAE's fintech industry, has today announced the appointment of Samer Abuzahra as its Chief Commercial Officer (CCO).

Abuzahra will spearhead 180 Capital's business development, focusing especially on delivering innovative trading and investing solutions. He will leverage the collective expertise of 180 Capital's resources to redefine the industry in facilitating connectivity throughout the regional and global markets.

Karim Farra and Ziad Aboujeb, co–founders of 180 Capital, said: “Under Samer Abuzahra’s leadership, we are confident that 180 Capital will continue to offer innovative fintech solutions that stand out on the capital markets, shift the paradigm in the trading and investing experience of clients, as well as boost efficiency and scalability for financial institutions.”

With Abuzahra at the helm, 180 Capital is poised to unveil a new solution characterized by flexibility, modernity, and seamless integration. This initiative aims to offer a comprehensive multi–asset ecosystem that will encompass a diverse range of investment options, including MENA and international equities (with an emphasis on the US markets), as well as options, fixed income, funds, commodity futures, currencies, and cryptocurrencies. Designed to disrupt the sector, particularly for GCC financial services firms, it will provide global access to over 200 exchanges and counterparties.

Leveraging a comprehensive technology stack and advanced features, the offering aims to be a complete solution for client management and operational efficiency. Emphasizing broker neutrality, it enables clients to select their preferred counterparties and customize their front–end interfaces using an extensive API stack.

“As the Chief Commercial Officer at 180 Capital, I am thrilled to be able to spearhead the development of a trading and investing ecosystem that integrates the unique capabilities of the group, offering a holistic trading and investing solution to industry market participants,” said Abuzahra. “I look forward to contributing my extensive experience to create significant value to all our stakeholders.”

Samer Abuzahra brings almost three decades of blue–chip industry experience. Prior to joining 180 Capital, he served as Chief Executive Officer (CEO) of GTN Middle East and held several leadership positions at Thomson Reuters and HSBC. He holds a degree from Yarmouk University and has recently completed a senior executive leadership program at Harvard Business School.

  • 180 Capital is a holding company with expertise in online trading, financial software technology solutions, and systematic investing.

https://180cap.com/

Contact: info@180cap.com

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From Chemical Engineer to Climate Justice Avenger: A Journey with Yamide Dagnet

Yamide Dagnet, Director of Climate Justice at the Open Society Foundations, addresses the forum Financing for Resilience: Overcoming Hurdles to Catalyse Regional Action and Locally-led Adaptation and Loss and Damage Finance at COP28 in Dubai. Credit: OSF

Yamide Dagnet, Director of Climate Justice at the Open Society Foundations, addresses the forum Financing for Resilience: Overcoming Hurdles to Catalyse Regional Action and Locally-led Adaptation and Loss and Damage Finance at COP28 in Dubai. Credit: OSF

By Alison Kentish
SAINT LUCIA , Jan 9 2024 – As a child on the French-Caribbean island of Guadeloupe, Yamide Dagnet dreamed of launching rockets into space.

She stuck to science, discovering her path in chemical engineering. She became a scientist focused on critical reactions to solving real-world problems like improving water quality in the United Kingdom.

Her attention to detail, observation skills, and grounding in science eventually led her to a career in climate negotiations and climate justice.

As Director of Climate Justice at the Open Society Foundations (OSF), she is committed to the organization’s cause of expediting a fair, transparent, low-carbon, and resilient transition in our societies.

Reflecting on her journey, she acknowledges that the task is daunting, but she remains optimistic for the future. Her roots as an islander fuel her drive to fight for a more just and resilient world.

“Vulnerable countries, including Islanders, have played a critical role in shaping negotiations and the outcome of climate negotiations over time by bringing both tangible experience and a moral voice to this issue while also bringing solutions. Even as small Islanders, we always felt that we were big on solutions,” she said in a sit-down with IPS.

The move from chemical engineering to climate justice director may be non-traditional, but for Dagnet, it was a transition hinged on applying her principles and skills from the lab to the policymaking table.

“I kept the spirit of problem-solving in an unexpected career move. I see negotiations and the diplomatic world not as chemical reactions among products but as chemical reactions among people—a people alchemy,” she said.

The Changing Nature of Climate Negotiations

When Dagnet entered the field of climate negotiations, the focus was predominantly technical, she told IPS. Things have changed since then. The talks have morphed into a more political sphere, increasingly shaped by geopolitical dynamics. It is a shift that Dagnet says requires an understanding of the diverse interests of countries at the negotiating table.

“When I joined the negotiations, we were just getting into the implementation of the Kyoto Protocol,” she said, adding, “Over time, everything that would affect geopolitics would affect the climate negotiations as well. That was really key to creating trust and understanding for landing the Paris Agreement itself. The Paris Agreement was no longer just a climate agreement. It had become a socio-economic and environmental agreement that had to be contextualized.”

“Now that we’re getting into the implementation phase again of a complex agreement, to reach that breakthrough, we have to understand the different interests of countries—200 countries, 200 different interests.”

The composition of the annual climate talks is also different, reflecting the change from a technical gathering to one with more glaring political hues.

“There’s been what had started to be an exercise, and a gathering of initiated diplomats and technocrats expanded to bring all hands on deck for implementation. More from the private sector, more from civil society, and more from indigenous people, women, and youth. So, there has been a progression in terms of inclusion, but also more interests and a greater risk of corporate capture over time.”

Climate Negotiations, then the Open Society Foundations

While working as a chemical engineer in the UK, Dagnet was involved in water quality. It was an opportunity to ensure that products in contact with drinking water were safe and of the highest standards. It was during that time, already working with inspectors, that she became more familiar with the nexus between climate and water, along with the safety plans that needed to be put in place to mitigate the impacts of climate change on drinking needs.

In 2007, she was then detached to France’s Minister of Environment and Sustainable Development, in their international division, where she gained valuable experience leading delegations, establishing cooperation, and twinning programs between France and Eastern European countries. The primary goal was to enhance the capacity of countries seeking access to the European Union. It was a defining experience for her, helping her to test different means of capacity building to reflect what could be most effective and sustainable.

It made for a smooth transition to the climate arena.

“I was privileged to join the UK climate team at a time when the UK was a climate leader—enacting the first climate change bill, setting up the first climate change committee, and relying on much data and evidence emerging from the UK greenhouse gas inventory I was responsible for. Being the UK deputy focal point for the IPCC at a time when the IPCC won the Nobel Peace Prize. Joining the UK climate delegation under UNFCCC at the turning point of the negotiations to shape the Paris Agreement,” she said.

“While negotiating for the interests of the UK, I was in a very unique and diverse delegation that had a comprehensive outreach strategy with different countries that were also committed to coalition building outside and within the negotiations. I was keen to first have the opportunity to use my problem-solving skills and the fact that I wanted to really look into solutions and put those solutions into action, not just for the UK, not just for the EU, but for the rest of the world, including the most vulnerable countries.”

The opportunity came to join an internationally renowned, US-based think tank, the World Resources Institute, in 2012 and advance robust research, analysis, and policy recommendations for designing a new rule-based climate regime.

“It’s convening power was really interesting, and for me, making sure that you do not produce creative solutions that are put on a shelf, but how to really look at the power and interaction with different stakeholders, not just governments, but the faith community, different civil society constituencies, how to really, again, build bridges and test ideas, to really come up with something that has legitimacy.”

To do that, Dagnet organized several consortiums. The task was not easy, but it was necessary.

“I learned the power of consortiums. First, it’s more difficult to work in a consortium because it’s actually a platform of negotiations where you don’t navigate just one mindset, one view, one way of addressing an issue; but by creating the right consortium, you bring the legitimacy and credibility that represent different views from different countries, which in the end really helped us to get the traction and inference necessary to shape a meaningful agreement.”

After almost a decade, the Open Society Foundations was a natural fit for her knowledge and passions to work as a funder to empower the field, support new ideas and analysis, take grassroots and legal actions, and engage in diplomatic and advocacy efforts. Her priority has been supporting just resilient outcomes, especially in neglected areas like adaptation to climate change and politically sensitive issues like losses and damage. How you face climate impacts you cannot even adapt to—that will cost lives and livelihoods and generate irreversible economic and non-economic (e.g., cultural, social) damages. Another area of focus was the implications of a just energy and industrial transition, ensuring equitable use and deployment of critical minerals, minimizing unintended environmental adverse effects and social or labor abuse, while spurring the ability for resource-rich mineral countries to move up the manufacturing ladder. All of these are matters of justice, equity, and human rights. Ensuring accountability and inclusion within national and international processes like the COP was critical.

COP28

The former climate negotiator was in Dubai, UAE, for the 2023 climate talks.

Like many, she welcomes the landmark announcement of the operationalization of the Loss and Damage Fund on the first day of COP as a hard-won victory. “Two hundred countries, including a petrol state, have agreed to move away from fossil fuels and to operationalize a loss and damage fund that has taken so long to be established,” she said. “Now that we’ve got a roadmap, we have an initial capitalization, even if it only represents less than 1 percent of what is really needed.”

She, however, says that there is no place for complacency. Those breakthroughs are decades away, still little, very late, and lacking the necessary pace needed to effect the change needed.

Moreover, Dagnet says the new climate deals have shortcomings. She is particularly concerned about some of the controversial technologies mentioned in the agreements, which lack sufficient safeguards and measures to minimize unintended adverse impacts on frontline communities and the environment. For instance, “the reference to transition fuels, which, without the right accountability mechanisms, could be overused and used as a license to delay some of the radical changes that need to be done.”

Looking Forward

The next year is poised to be an interesting one on the international climate scene, with an eye on how the commitments on energy and roadmap to build resilience will be transformed into tangible actions and how ongoing campaigns to reform the global finance infrastructure will pan out.

“2024 is really shaping as being about the means of implementation to keep 1.5 alive and build resilience within that threshold. We know that the UAE, Azerbaijan, and Brazil committed to the delivery of a financial framework through their “road map to mission 1.5 C. There needs to be a strong mobilization of different stakeholders to support, inform, shape those frameworks, and make them a reality,” says Dagnet.

She took the opportunity to express her appreciation to all partners, especially frontline communities, who often risk their lives in this climate change battle. “Without them, we would not have secured these hard-won breakthroughs.”

Dagnet expressed her hopes that their efforts will be redoubled and rewarded in the future.

“We need to pull up our sleeves. There’s a lot of work to do, which can only be effective if we create and harness the synergies and intersections between climate and health, climate and nature, and climate and trade.

And as for Dagnet’s work—no matter what, “I think I will remain a climate and social justice avenger.”

IPS UN Bureau Report

 


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Martin Luther King’s Message Shook the Powerful: Vital People can Hear it Today

Dr. Martin Luther King and Mrs. King are greeted by Ralph Bunche on a visit to the United Nations in 1964. Credit: UN Photo

 
Ralph Bunche received the 1950 Nobel Peace Prize for his late 1940s work as a United Nations mediator in the Palestine conflict. He called himself ‘an incurable optimist’. Bunche was the first African American and person of color to be so honored in the history of the prize.

By Ben Phillips
ROME, Jan 9 2024 – All through this week, leading up to January 15th, the world will commemorate Martin Luther King. In a world as wounded as ours is today, the lessons of his life’s work offer a vital opportunity for healing.

But the opportunity to hear his message continues to be obstructed: too many of the soundbites of TV pundits and the tweets of politicians are, once again, not distilling the insights of Dr King, but are serving instead to obscure a library of wisdom behind wall-to-wall repetition of the same few lines, extracted from their context, of one speech.

This is not a mistake, it is a tactic, and we owe it not only to the legacy of Dr King but to the future of our world to ensure that his authentic message is shared.

The true message of Martin Luther King is not a saccharine call for quietude or acceptance, but an insistence on being, as he put it, “maladjusted to injustice.” It represents not an idle optimism that things will get better but a determined commitment to collective action as the only route to progress.

When Dr King said “the arc of the moral universe is long, but it bends towards justice”, he didn’t mean this process is automatic; as he noted, “social progress never rolls in on wheels of inevitability; it comes through the tireless efforts of people.”

And he was clear that advancement of progress requires the coming together of mass movements, “organizing our strength into compelling power so that government cannot elude our demands.”

Children from a dozen countries met with the President of the General Assembly and toured the United Nations on a federal holiday in the United States honouring the late civil rights leader and Nobel Peace Prize laureate, Martin Luther King Jr. 17 January 2023. Credit: Paulina Kubiak, United Nations

Justice, Dr King taught, is never given, it is only ever won. This always involves having the courage to confront power. Indeed, he noted, the greatest stumbling block to progress is not the implacable opponent but those who claim to support change but are “more devoted to order than justice.” As he put it, “frankly I have yet to engage in a direct action movement that was ‘well-timed’ in the view of those who have not suffered unduly; this ‘wait!’ has almost always meant ‘never.’”

When the civil rights movement’s 1962 Operation Breadbasket challenged companies to increase the share of profits going to black workers and communities, it was only after the movement showed that they could successfully organize a boycott that those companies, in Dr King’s words, “the next day were talking nice, were very humble, and [later] we signed the agreement.” As he noted when challenged by “moderates” who asked why he needed to organize, “we have not made a single gain without determined pressure…freedom is never voluntarily given by the oppressor, it must be demanded by the oppressed.”

Advancing progress, he emphasized, involves challenging public opinion too. Organizers cannot be mere “thermometers” who “record popular opinion” but need to be “thermostats” who work to “transform the mores of society”. In 1966, for example, a Gallup Opinion poll showed that Dr King was viewed unfavourably by 63 per cent of Americans, but by 2011 that figure had fallen to only four per cent.

Often, people read the current consensus view back into history and assume that Dr King was always a mainstream figure, and imagine, falsely, that change comes from people and movements who don’t ever offend anyone.

Dr King’s vision of justice was a full one. It called not only for the scrapping of segregation, but for taking on “the triple prong sickness of racism, excessive materialism and militarism.” He challenged the “economic conditions that take necessities from the many to give luxuries to the few” and noted that “true compassion is more than flinging a coin to a beggar, it understands that an edifice which produces beggars, needs restructuring.”

He spoke out against war not only for having “left youth maimed and mutilated” but for having also “impaired the United Nations, exacerbated the hatreds between continents, frustrated development, contributed to the forces of reaction, and strengthened the military-industrial complex.”

He noted how “speaking out against war has not gone without criticisms, there are those who tell me that I should stick with civil rights, and stay in my place.” But he insisted that he would “keep these issues mixed because they are mixed. We must see that justice is indivisible, injustice anywhere is a threat to justice everywhere.”

When I went to Dr King’s memorial in Atlanta I did so to pay my respects at his tomb. But arriving at the King Center I found a vibrant hub of practical learning, at which activists and organizers working for justice were revisiting Dr King’s work and writings not as history that is past but as a set of tools to help understand, and act, in the present.

Together, we reflected not only on his profoundly radical philosophy, but also on his strategies and tactics for advancing transformational change. Conversations with Dr King’s inspirational daughter, Bernice, were focused not on her father’s work alone; instead, she asked us what changes we were working for, and how we were working to advance them.

This year, on 10th January, the King Center is hosting a Global Summit, a series of practical conversations accessible to everyone, for free, online. I’m honoured to be panelist. It is open for sign ups here.

“Those who love peace,” noted Dr King, “must learn to organize as effectively as those who love war.” And he even guided us how.

Ben Phillips is the author of How to Fight Inequality, Communications Director of UNAIDS, and a panelist at the King Center Global Summit on 10th January.

IPS UN Bureau

 


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