Scorched Earth Colonizing of Gaza is a Horrible Idea

Credit: UNRWA

By James E. Jennings
ATLANTA, USA, Nov 11 2024 – For religious, humanitarian, and scientific reasons, Israel’s increasingly apparent plan for the de facto colonization of the Northern Gaza Strip is a bad idea. When that program was rejected recently by Israel’s own Defense Minister Yoav Galant, he was summarily fired by Prime Minister Netanyahu.

However, the founding document of the worldwide Jewish community, the Torah, and especially the Decalogue, states plainly, “Thou shalt not covet thy neighbor’s wife…or anything that is thy neighbors.” If religion still means anything to people in the modern nation of Israel, it should be clear that whatever belongs to others should be left alone and neither coveted nor stolen.

For obvious humanitarian reasons the one-sided bombing of Gaza must stop. After more than a year of an ongoing holocaust in Gaza, Israel’s relentless bombing has produced casualties totaling nearly 150,000 dead and wounded people, mostly civilians.

Now with UN sources reporting that starvation is setting in, people everywhere must demand that this racist, inhumane bloodshed stop immediately. Otherwise, international law has no force and the word “humane” has no meaning.

In scientific terms, the contamination of the water, soil, and air in northern Gaza from explosive dust, including Depleted Uranium, will clearly persist for decades, if not generations. That is neither good for the inhabitants if they manage to return to their homes, nor for the Jewish colonists if they should return to their previous colonies in the strip.

US bombing of Iraq two decades ago, especially in and around Basra, as much scientific and eyewitness testimony—including my own on the scene report—proves, has produced a plethora of birth defects.

The idea of some capitalists that Gaza will become a future Dubai—a wealthy trade zone that will be a veritable Las Vegas on the Mediterranean shore—is actually a good one. Geographically and commercially, Gaza is a potential Hong Kong.

The only thing wrong with the plan is the question of who will control this mighty future entrepot, the Palestinians, investors from the Gulf States and the West, or Israel? Answering that will take another century of bloodletting.

Far better that the United States, NATO, the United Nations, the International Court of Justice in the Hague or somebody other than HAMAS or the extreme right wing and increasingly bloodthirsty Likud government now in power in Jerusalem should deal with that issue and guarantee justice.

The ICJ/International Court of Justice, responsible governments everywhere, and especially the campus protesters and those on the streets of cities around the world, must keep chanting, “NO JUSTICE, NO PEACE!” “NO JUSTICE, NO PEACE!”

James E. Jennings, PhD is President of Conscience International and Executive Director of US Academics for Peace

IPS UN Bureau

 


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Without Supercharging Adaptation Funding Global Temperatures Could Surge

Opening plenary COP 29. Credit: UN Climate Change/Kiara Worth

Opening plenary COP 29. Credit: UN Climate Change/Kiara Worth

By Umar Manzoor Shah
BAKU, Nov 11 2024 – The Head of Impact Assessment and Adaptation, Henry Neufeldt, UN Environment Programme Copenhagen Climate Centre, has called for increased climate adaptation funding, particularly for developing nations facing significant climate risks.

UNEP’s latest report reveals an acute adaptation finance gap, with current international funding for developing countries at USD 30 billion—far below the USD 200 to 400 billion annually required to meet their adaptation needs. According to Neufeldt, this funding shortfall demands substantial commitments from developed nations, which should ideally set an ambitious climate finance goal at COP 29

He also warns that, without further action, global temperatures could rise by 2.6 to 3.1 °C by the end of the century, unless adaptation is addressed. Even with current pledges, achieving the safer 1.5°C target may be challenging, highlighting an increased need for adaptation funding. Equity is a key consideration, as many vulnerable nations bearing adaptation costs have contributed little to emissions.

Neufeldt advocates for a shift from loan- to grant-based funding to prevent further indebting these countries. Neufeldt also stresses that transformational adaptation is necessary, requiring a shift from incremental changes to more systemic solutions, such as altering agricultural practices or planning coastal retreats.

Moving toward COP30, Neufeldt hopes to see national adaptation plans with clear, costed actions and a robust global adaptation framework to track progress. Ultimately, he sees these efforts as critical to helping vulnerable communities build resilience against climate impacts.

COP29, dubbed the ‘finance COP,’ began with strong statements about the urgent need to raise funding.

COP29 President Mukhtar Babayev said in his opening address that it was known that the “needs are in the trillions.” While he also acknowledged that a realistic goal for what the public sector can directly provide and mobilize seems to be in the “hundreds of billions.”

However, there was little choice: “These numbers may sound big, but they are nothing compared to the cost of inaction. These investments pay off.”

UN Climate Change Executive Secretary Simon Stiell also emphasized the importance of reaching a new global climate finance goal in Baku. “If at least two-thirds of the world’s nations cannot afford to cut emissions quickly, then every nation pays a brutal price,” he said. “So, let’s dispense with any idea that climate finance is charity. An ambitious new climate finance goal is entirely in the self-interest of every nation, including the largest and wealthiest.”

Henry Neufeldt, the Head of Impact Assessment and Adaptation at the UNEP Copenhagen Climate Centre.

Henry Neufeldt, the Head of Impact Assessment and Adaptation at the UNEP Copenhagen Climate Centre.

Neufeldt plays a key role as the chief scientific editor of UNEP’s Adaptation Gap Report 2024: Come hell and high water.

IPS: What are the primary reasons behind UNEP’s call for a dramatic increase in adaptation finance, especially at COP 29?

Neufeldt: The report highlights a substantial adaptation finance gap. This gap is the difference between what countries need for climate adaptation—an estimated USD 200 to 400 billion based on national adaptation plans—and the USD 30 billion currently coming from international public finance to developing nations. This significant discrepancy—roughly eight to fifteen times less than needed—underscores the urgency for developed countries to increase adaptation investments. COP29’s focus will include a new collective quantified goal for climate finance, covering both adaptation and mitigation, with hopes of setting a more ambitious financial floor to address this gap. Additionally, we urge bilateral and international development banks to boost their contributions to developing countries.

IPS: Will global temperatures indeed rise by 2.6 to 3.1 degrees Celsius by the end of the century? What are the most urgent adaptation priorities?

Neufeldt: If no further action is taken beyond current commitments, we could see temperature increases of 2.6 to 3.1 degrees Celsius by century’s end. However, fully implementing all pledges, particularly from G20 nations, could limit this rise to around two degrees—still above the safer target of 1.5 degrees Celsius, which we’re now crossing for the first time this year. Current adaptation needs to align with a 1.5-degree temperature rise, but we’ll need far more for higher temperatures. We don’t yet know the full scope of those needs, as models for future adaptation costs under those conditions are still developing.

IPS: How significant is the adaptation finance gap, and how are current financing flows falling short?

Neufeldt: As mentioned, the finance gap is between USD 200 and 400 billion annually, while current flows are only about USD 30 billion. This shortfall is specific to developing countries; we aren’t even calculating the adaptation finance needed in developed nations, where costs are likely higher due to greater infrastructure.

IPS: How do you envision the New Collective Quantified Goal (NCQG) for climate finance helping bridge this adaptation gap?

Neufeldt: We have high hopes for the NCQG negotiations in Baku to set an ambitious adaptation finance target. Ideally, this target will better reflect the needs of developing nations, ensuring they receive the financial support required for effective adaptation measures.

IPS: Why is it critical to consider equity and integrity in adaptation finance, particularly for developing nations facing climate impacts and debt burdens?

Neufeldt: Equity is essential. Much adaptation finance still comes as loans, which increases debt burdens on the least developed countries. These countries, which have contributed the least to emissions, are now forced to bear the costs of adaptation. In our report, we stress that more finance should come as grants rather than loans to avoid further indebting these vulnerable nations. Two-thirds of adaptation needs are in areas that are public-sector-dependent, making it hard for private investment alone to meet these needs.

IPS: How do capacity building and technology transfer factor into adaptation efforts? What are the main barriers?

Neufeldt: Capacity building and technology transfer are crucial. Unfortunately, efforts in these areas often lack integration, with adaptation financing, capacity building, and technology transfer frequently handled separately. Much of the technology we need is already available but requires significant investment to be accessible. Capacity-building efforts should be rooted in local capabilities, social inclusion, and gender diversity for long-term effectiveness. Current approaches, like short-term workshops, often lack sustainable impact.

IPS: What new financial instruments could unlock additional adaptation funding for both the public and private sectors?

Neufeldt: We outline several instruments in the report, including risk management tools, insurance, and debt swaps. These mechanisms can help mobilize private sector involvement, especially with support from the public sector through blended finance and partnerships that reduce investment risks.

IPS: Many adaptation projects lack sustainability without ongoing funds. What steps can be taken to ensure their long-term impact?

Neufeldt: Long-term success depends on involving local partnerships in project design and implementation and focusing on adaptive management with predictable financing. Projects should consider future climate risks rather than just immediate ones, as this forward-looking approach can prevent maladaptation. Building overall resilience through improved governance, health care, education, and infrastructure also significantly reduces climate vulnerability.

IPS: Can you provide examples of transformational adaptation, and why is a shift toward this approach needed?

Neufeldt: Transformational adaptation goes beyond incremental adjustments. For example, in agriculture, instead of minor adjustments to current practices, transformational adaptation might mean completely rethinking crops and farming methods unsustainable under changing climate conditions. For coastal regions, it may mean planned retreats rather than just raising seawalls. Long-term, transformational planning considers how climate change will reshape economies and societies, pushing for proactive rather than reactive measures.

IPS: The report notes that adaptation costs often fall on developing nations. What can be done to address this imbalance?

Neufeldt: We advocate for more grant-based support for the most vulnerable countries, such as least-developed nations and small island states. Financing mechanisms should include options like debt-for-climate swaps to alleviate financial pressures. Additionally, reforming international finance structures to offer more concessional loans and debt exemptions could empower these countries to address climate risks more effectively.

IPS: Looking ahead to COP30, what progress would you like to see to protect vulnerable communities from climate impacts?

Neufeldt: COP30 is a chance to secure new national adaptation plans and more adaptation-focused national contributions. These plans should include costed, prioritized actions for adaptation, which would make tracking and measuring progress easier. We also need a finalized framework to assess the global adaptation goal, with robust metrics for tracking. And of course, continued emphasis on technology transfer and capacity-building is essential for sustainable adaptation outcomes.

IPS UN Bureau Report

 


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Walee Financial Services’ Hakeem Wins Singapore FinTech Festival Excellence Award for Emerging Fintech Products

SINGAPORE, Nov. 11, 2024 (GLOBE NEWSWIRE) — Walee Financial Services proudly announces that its groundbreaking fintech product, Hakeem, has won the Emerging FinTech Award at the 2024 Singapore FinTech Festival (SFF) Excellence Awards. Presented by the Monetary Authority of Singapore (MAS) in collaboration with PwC Singapore and the Singapore FinTech Association (SFA), this honor spotlights Hakeem as a transformative force for financial inclusion through its innovative, ethical approach to nano–financing.

As Pakistan’s only representative among a distinguished pool of global finalists, Hakeem’s recognition is a milestone for the country’s fintech industry and underscores its potential on the global stage. Hakeem is the world’s first Shariah–compliant nano–financing app, uniquely designed to empower underserved communities with ethical, accessible financial solutions. Built on a Shariah–compliant trading model, Hakeem provides individuals with financial opportunities that respect their values, establishing a pathway to financial empowerment that is both inclusive and responsible.

“Winning the Emerging FinTech Award at the Singapore FinTech Festival is a proud achievement for Walee Financial Services and for Pakistan,” said Noshad Minhas, CEO of Walee Financial Services. “This award affirms our mission to provide impactful, Shariah–compliant financial solutions that promote financial empowerment and inclusion,” said Waqas Ramzan who is Head of Operations at Hakeem. “Hakeem is more than a product—it’s our promise to build financial independence and dignity for those that need it most,” added Khushba Hayat who is Partner, Investments at Walee Financial Services.

Link to MAS’ finalists announcement for SFF Excellence Awards: https://www.mas.gov.sg/news/media–releases/2024/mas–announces–finalists–for–the–2024–global–fintech–hackcelerator–and–fintech–excellence–awards

About Walee Group

Walee Financial Services is a subsidiary of Walee Technologies, it is a licensed Non–Banking Financial Company (Investment Finance Services) fintech offering innovative financial solutions with a focus on Islamic finance. Through its digital Islamic nano–financing products, Walee Financial Services aims to provide accessible and ethical financial support to individuals and small businesses. By leveraging advanced technology and aligning with Islamic principles, Walee Financial Services empowers communities, promotes financial inclusion, and contributes to sustainable economic development in Pakistan.

Download the Hakeem App:

Android:
Google Play Store

iOS:
Apple App Store

For press inquiries, contact:
[email protected]

For further information about Walee and its financial services, please visit www.hakeem.tech.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ac4753b4–d71d–44d6–8479–d925b199ed23


GLOBENEWSWIRE (Distribution ID 9270901)

Dubai Philanthropist Anosh Ahmed Provides £10 Million of Essential Food Aid to Support Lebanon’s Vulnerable Communities

DUBAI, United Arab Emirates, Nov. 11, 2024 (GLOBE NEWSWIRE) — Dubai Billionaire and founder of PFOAA Anosh Ahmed and its foundation announces today that it is donating ten millions of pounds of essential food to Lebanon.

Dr. Anosh Ahmed


“In times of hardship and recovery, no one should face hunger alone. As Lebanon heals from the recent conflict, we are standing with the most vulnerable—children and women—who have been impacted the most. This donation is a step toward bringing nourishment, hope, and dignity to those in need. Together, we can help restore not just meals, but a sense of comfort and compassion in the lives of those who need it most. May this support bring warmth and strength to those rebuilding their lives.” – Anosh Ahmed

About Anosh Ahmed
Anosh Ahmed’s remarkable rise from a modest $4,000 investment to a billionaire agripreneur demonstrates how ambition, innovation, technology, and sustainability can transform the agricultural sector. His journey is a testament to perseverance, bold risk–taking, and a vision that sees agriculture not just as a means of survival, but as a pathway to immense wealth and profound social impact. Today, Anosh is recognized as one of the largest leaseholders of agricultural land across Asia, Africa, and the Middle East.

Growing up in a farming family, Anosh was no stranger to the challenges faced by small–scale farmers—low yields, volatile markets, and unpredictable weather. Driven by a desire to change this reality, he leased 100 acres of land from the government on a 39–year agreement at just 18 years old. With a starting capital of $4,000, Anosh navigated the complexities of agriculture, integrating sustainable practices, innovative technologies, and efficient production methods. Over 22 years, his agribusiness has grown to a valuation of $1.8 billion, managing over 50 billion square feet of land and generating diversified revenue streams from farming, processed goods, agri–tech ventures, and long–term real estate leases.

Anosh remains committed to his roots. He established a foundation that provides small–scale farmers with training, technology, and financial support, alongside creating a network of farmer cooperatives to ensure fair pricing and global market access. His legacy has inspired a new generation of farmers to embrace sustainable, modern agriculture. Through workshops, documentaries, and his forthcoming autobiography, From Soil to Success, Anosh continues to share his knowledge and passion, making him a beacon of hope and transformation in the agricultural sector.

Contact–
Private Family Office
Anosh Ahmed Dubai
Grace D’Souza
Public Relations–
[email protected]


GLOBENEWSWIRE (Distribution ID 9270795)

Israel Alienating Allies and Acquiring Adversaries 

The Israeli government’s actions in Gaza have been criticized by the United Nations, specialized agencies, Western allies, the International Court of Justice (ICJ), human rights and humanitarian organizations and independent observers. Credit: Frank van Beek / UN

By Joseph Chamie
PORTLAND, USA, Nov 11 2024 – As a result of its policies and actions in response to the 7 October attack, the Israeli government has not only alienated its allies and acquired adversaries but also found itself isolated diplomatically. The consequences of those developments and realignments have occurred across countries, organizations and groups worldwide.

 

Situation

The Israeli government’s actions in Gaza have been criticized by the United Nations, specialized agencies, Western allies, the International Court of Justice (ICJ), human rights and humanitarian organizations and independent observers.

Israel has found itself in violation of the decisions of international courts, in conflict with international humanitarian and human rights organizations, viewed critically by most of the world and increasingly isolated diplomatically

US president Biden, for example, warned Israel that it was losing international support because of its indiscriminate bombing of the Gaza Strip and described Israel’s military response in Gaza over the top. President Macron of France also said that Israel has used excessive force, resulting in disproportionate casualties and destruction.

Over 150 civil society and non-governmental organizations have urged world governments to help end the war crimes being committed by the Israeli government in Gaza. Also, more than 800 scholars of international law and genocide have signed a public statement arguing that the Israeli military may be committing genocidal acts against Palestinians in Gaza.

 

Setting

The long-running conflict between Israelis and Palestinians concerns a relatively small but historically important parcel of land. In addition, the two populations directly involved are comparatively small in numbers.

Israel is about the territorial size of the US state of New Jersey and has about the same size population. Israel’s population is close to 10 million, with 77 percent being Jewish. The Occupied Palestinian Territory (OPT), which is about one quarter the size of Israel, has a population of about 5.5 million. The combined population of Israel and the OPT is approximately 15.5 million, or about the size of a large metropolitan city, such as Istanbul, Los Angeles or Moscow. About half of the combined population of Israel and the OPT would be Jewish (Figure 1).

 

Source: Israel, Central Bureau of Statistics and State of Palestine, Central Bureau of Statistics.

Source: Israel, Central Bureau of Statistics and State of Palestine, Central Bureau of Statistics.

 

Decisions

Despite the land areas and populations being comparatively small, the Israeli- Palestinian conflict continues to be an issue of concern extending well beyond its borders.

The International Court of Justice (ICJ), for example, has concluded that Israel’s occupation and annexation of the OPT are unlawful. The ICJ found that Israel’s discriminatory laws and policies against Palestinians violate the prohibition on racial segregation and apartheid. In addition to ICJ, Israeli, Palestinian and international human rights organizations as well as independent observers have found Israel practicing apartheid in the OPT.

The findings of the ICJ are supported by the majority of countries. In a vote in September by the 193-member UN General Assembly, 124 governments supported the ICJ advisory opinion, while 14 opposed it. The adopted UN resolution also demands that Israel “brings to an end without delay its unlawful presence” in the OPT (Figure 2).

 

Source: United Nations, Israel and State of Palestine.

Source: United Nations, Israel and State of Palestine.

 

Earlier in May, the UN General Assembly overwhelmingly backed a Palestinian bid to become a full UN member and recommended that the Security Council reconsider the matter favorably. The vote reflected the increasing global solidarity with Palestinians and a rebuke to America and Israel.

While 143 countries supported the resolution calling for full UN membership of the State of Palestine, 14 countries opposed it. The resolution was adopted by the General Assembly a month after the US vetoed the Palestinian bid to become a full UN member in the Security Council.

Although it has not become a full UN member, by mid-2024 the State of Palestine has been officially recognized as a sovereign state by 146 countries, representing 87 percent of the world’s population.

The most recent countries to recognize the State of Palestine are Spain, Ireland and Norway. Those three countries hoped that their recognition of Palestine would encourage the peace process in Gaza and spur other European Union countries to follow suit.

 

Consequences

The Israeli government’s responses to the Hamas-led terrorist attack on 7 October have contributed significantly to alienating its allies and acquiring adversaries. Many countries have voiced objections to Israel’s intensive bombing of Gaza, resulting in high numbers of civilian deaths and injuries, especially women and children.

Over twelve months of conflict since the 7 October attack, the reported number of Palestinian deaths in Gaza is about 20 times greater than the number of Israeli deaths. Moreover, the mortality rate of the Palestinians is 100 times greater than the Israeli mortality rate.

Top United Nations officials recently described the current situation in northern Gaza as being “apocalyptic”. They warned that the entire Palestinian population in North Gaza is at imminent risk of dying from disease, famine and violence. They also stressed that required humanitarian aid cannot keep up with the needs of the Palestinians due to the blockade and access constraints by Israeli forces.

Although Israel disagrees with the finding of the ICJ, the court found that some of the rights asserted by South Africa versus Israel under the Genocide Convention are plausible. In addition, many scholars of international law and genocide have concluded that the Israeli attacks on Gaza are being conducted with potentially genocidal intent and have described the assault on Gaza as unprecedented in scale and severity.

The ICJ’s findings have also contributed to political problems in the US over the Biden’s administration’s indispensable role and complicity in what many American progressives have described as “Israel’s slaughter and starvation of Palestinians”. Protests and progressive activism opposing Israel’s actions, which are viewed as having created a humanitarian disaster in Gaza, have taken place across America as well as in other countries.

A July national opinion poll of US voters reported that a narrow majority disapproved of Israel’s actions in Gaza. The Israel war on Gaza has also impacted the US Congress and affected the US presidential election in some important swing states.

The Israeli government’s recent actions in Lebanon have also been publicly criticized in the US. The administration said it opposed the scope of Israel’s air strikes in Beirut amid a rising toll of deaths and injuries. Also, former CIA director, Leon Panetta, labeled Israel’s deadly pager explosions in Lebanon a form of terrorism.

In addition to governments, specialized agencies and international courts, more than fifty global humanitarian and human rights organizations have condemned the Israel’s actions in Gaza. They also called on world leaders to protect UNRWA and use all diplomatic means to prevent Israel from severely limiting or outright banning UNRWA.

 

Proposals

Various proposals have been offered to resolve the Israeli-Palestinian conflict. The proposal most widely supported is the two-state solution. It recommends establishing an independent state for Palestinians alongside that of Israel with the two states existing peacefully within recognized borders and security ensured for both nations.

The UN General Assembly and the Security Council have concluded that a lasting end to the Israeli-Palestinian conflict can only come through the two-state solution. The Israeli government, however, is opposed to the two-state solution. In addition to government officials, Israel’s Knesset passed a resolution that overwhelmingly rejected the establishment of a Palestinian state.

Some believe that the two-state solution is no longer an option primarily due to today’s realities. Approximately 750,000 Israelis, or about 10 percent of Israel’s Jewish population, are currently residing in settlements in East Jerusalem and the West Bank, which is in violation of Article 49 of the Fourth Geneva Convention. Consequently, the de facto option to resolve the Israeli-Palestinian conflict appears to be the one-state solution.

The one-state solution ensures equal rights for all citizens, irrespective of religious identity. However, Israel rejects the one-state solution since it would undermine the Jewish character of Israel.

Other proposals to resolve the Israeli-Palestinian conflict include a confederation of Israel, Jordan and Palestine, a federation of smaller Palestinian provinces or cantons, autonomy-plus for the Palestinians and the establishment of a Jewish Greater Israel (Table 1).

 

 

Many Israelis of the religious far right seek the establishment of a Jewish Greater Israel. Its establishment would necessarily involve the departure, expulsion or transfer of large numbers of the non-Jewish populations residing in the OPT.

 

Conclusions

The Israeli government has recently rejected the two-state solution, the one-state solution and various other proposals to resolve its conflict with the Palestinians. Moreover, Israel’s government has been unwilling or unable to provide an explicit peace plan of its own to resolve the conflict.

Consequently, it appears that Israeli government is pursuing the continuation of the status quo, which includes increasing settlements in the OPT. However, many consider the continuation of the status quo to be untenable, clearly not a resolution to the conflict and contributes to placing Israel’s Jewish democracy in peril. Many maintain that it’s time for diplomacy that leads to a negotiated settlement as military action won’t solve the conflict.

Due to its policies in the OPT, its recent actions in Gaza and its lack of an explicit peace plan, the Israeli government has increasingly alienated its vital allies and acquired additional adversaries.

Israel has found itself in violation of the decisions of international courts, in conflict with international humanitarian and human rights organizations, viewed critically by most of the world and increasingly isolated diplomatically.

In brief, the Israeli government appears to be winning the battles on the ground but losing the war in the hearts and minds of people in governments, international agencies, human rights organizations and communities around the world.

 

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

 

EBC Financial Group Registers Trademark in Chile, Strengthening Its Latin American Footprint

SANTIAGO, Chile, Nov. 10, 2024 (GLOBE NEWSWIRE) — EBC Financial Group (EBC) is proud to announce the successful registration of its trademark in Chile, a milestone that strengthens EBC’s footprint in Latin America and reinforces its commitment to responsible market expansion and investor protection. This strategic move reflects EBC’s dedication to upholding brand integrity and establishing a trusted presence in one of South America’s most dynamic financial markets.

Expanding EBC’s Influence in Latin America
Chile’s rapidly growing foreign exchange market, and its recent regulatory enhancements make it a significant region for EBC’s expansion. The Financial Market Commission (CMF), Chile’s primary regulatory authority, has introduced stricter guidelines for market conduct, reshaping the country’s financial ecosystem to deter financial misconduct and enhance accountability. With increasing investor protections and transparency standards, Chile has become a hub for responsible financial trading.

EBC’s trademark registration serves as a pivotal measure to protect its intellectual property within a rapidly evolving market. With Chile working to enforce higher standards of financial integrity and establish itself as a model for regulation in the region, EBC’s efforts to secure its brand presence align with broader industry expectations for operational transparency and IP protection in Latin America.

The establishment of this trademark protection in Chile represents an anchor for EBC’s ongoing expansion across the region, where regulatory bodies are progressively focused on enhancing market security. As EBC builds its footprint, this formal brand recognition not only shields against infringement in Chile but supports the company’s aim to responsibly serve LATAM clients. This foundation supports EBC’s broader strategy, as the company is actively securing similar protections across other Latin American countries. These steps ensure EBC will continue to be a recognised, trustworthy presence as the financial regulatory landscape in the region matures.

Empowering LATAM Investors Through Financial Education and Practical Training
EBC’s commitment to supporting Latin American investors goes beyond securing legal protections. Recently, EBC hosted a trading seminar series across key LATAM markets, including Colombia, Mexico, Chile, and Argentina, aiming to equip both new and experienced investors with advanced trading knowledge and strategic insights. At these seminars, EBC’s seasoned traders shared critical guidance on topics such as fundamental and technical analysis, trading psychology, and effective strategy implementation—alongside live demonstrations of EBC’s platform and tools to enhance trading decision–making.

This initiative aligns with EBC’s broader goal to foster a global network that connects traders with industry experts, providing them with systematic financial education to navigate complex markets confidently. EBC’s focus on trading mastery reflects its dedication to building a community where investors have access to the resources and tools needed to realise their potential in a structured, supportive environment.

Global Partnerships and Educational Initiatives
Beyond its Latin American expansion, EBC Financial Group is fostering global engagement through strategic partnerships and educational outreach. In partnership with the University of Oxford’s Department of Economics, EBC is continuing to sponsor the institution’s “What Economists Really Do” series, which showcases how economics can offer solutions to some of the world’s most pressing challenges. With an upcoming episode on Macroeconomics & Climate slated to happen on 14 November 2024 at Christ Church College, Oxford, EBC is committed to supporting initiatives that drive community engagement and societal transformation, bridging information gaps through public education to foster sustainable, knowledge–driven societies.

EBC also serves as the Official Foreign Exchange Partner of FC Barcelona. This 3.5–year partnership, launched in April 2024, extends across Asia Pacific, Latin America, the Middle East, and Africa, aligning EBC’s commitment to transparency and investor protection with FC Barcelona’s values of respect, ambition, and community impact.

EBC’s presence on the LaLiga stage has provided significant visibility during high–profile matches in markets such as Greater China, connecting the brand with diverse audiences across key global regions. This exposure strengthens EBC’s visibility within the sports community, highlighting its commitment to bridging the world of finance and sports. By aligning with a globally recognised club like FC Barcelona, EBC reinforces its presence among new audiences and supports its mission to connect with fans and traders worldwide.

Growing A Global Brand Across Developed and Emerging Markets
With its trademark now registered in Chile, EBC Financial Group is poised for further global expansion, remaining steadfast in its mission to provide reliable, efficient, and competitive financial services. To date, EBC Financial Group has secured trademark registrations in multiple key markets including Hong Kong, Taiwan, UK, Indonesia, Malaysia, India, Japan, Singapore, Chile, and Peru. This achievement in Latin America strengthens EBC’s global brand presence, ensuring clients worldwide benefit from the highest standards of financial integrity.

For more information on EBC, please visit: https://www.ebc.com.

About EBC Financial Group
Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. EBC has quickly established its position as a global brokerage firm, with an extensive presence in key financial hubs such as London, Hong Kong, Tokyo, Singapore, Sydney, the Cayman Islands, and across emerging markets in Latin America, Southeast Asia, Africa, and India. EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.

Recognised by multiple awards, EBC prides itself on adhering to leading levels of ethical standards and international regulation. EBC Financial Group's subsidiaries are regulated and licensed in their local jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK's Financial Conduct Authority (FCA), EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA), EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia's Securities and Investments Commission (ASIC).

At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the 'What Economists Really Do' public engagement series by Oxford University's Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

https://www.ebc.com/

Media Contact:

Alya Amani
Global PR Executive (LATAM)
[email protected]

Savitha Ravindran
Global Public Relations Manager (EMEA, LATAM)
[email protected]

Chyna Elvina
Global Public Relations Manager (APAC, LATAM)
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a013f3a–81b0–4cef–a4d3–e401bd001137


GLOBENEWSWIRE (Distribution ID 9270857)

Leather Cooperative Stops Unemployment in Northeast Brazil

José Carlos Castro, founding partner and former president of the Arteza Cooperative in Ribeira, Paraíba state, northeastern Brazil. Credit: Carlos Müller / IPS

José Carlos Castro, founding partner and former president of the Arteza Cooperative in Ribeira, Paraíba state, northeastern Brazil. Credit: Carlos Müller / IPS

By Carlos Müller
CABACEIRAS, Brazil, Nov 11 2024 – The small community of Ribeira stands out in the Northeast, the poorest region of Brazil. There is no unemployment here. One in five inhabitants make a living directly or indirectly from the Arteza Cooperative of Tanners and Leather Artisans.

“An idea has the power to transform your world,” said in a philosophical tone Ângelo Macio, president of Arteza, recalling the creation of the cooperative in 1998 under the impulse of a Dutch priest who no longer lives in the region.

“You come to the community and you don’t see unemployed young people, they all work in the workshops, they have their income, they raise their children, they have their houses… their transport. Everything comes from the leather activity”, he said, while showing a sandal made by one of the cooperative’s artisans.

This is the case of Tarcisio de Andrade, 29, and a member of the cooperative for seven years. “I am married and have a son. My wife doesn’t work, but we all live off my work in Arteza. I don’t plan to leave Ribeira,” he said while making a sandal.

The expansion of the cooperative, which has a tannery, a shop selling supplies and tools, other shops selling its products and online commerce, has boosted the local economy. At first, the tannery processed 800 hides per month, then it spiked to 12,000, a number the members had never thought they would reach. Nowadays they process 20,000 hides.

The 1,700 residents of Ribeira seem to believe that anything is possible.

Before, there was no petrol station, no department shops, and no pharmacy. Thanks to the cooperative’s earnings, now they have all that, and people don’t have to travel 13 kilometres to Cabaceiras, the capital of the municipality of 5,300 inhabitants, of which Ribeira is a part.

The headquarters of the Arteza Cooperative in Ribeira, municipality of Cabeceiras, in the microregion of Cariri, with a long tradition of leather work. Credit: Carlos Müller / IPS

The headquarters of the Arteza Cooperative in Ribeira, municipality of Cabeceiras, in the microregion of Cariri, with a long tradition of leather work. Credit: Carlos Müller / IPS

Solar energy, the driver

The cooperative’s success is largely due to solar energy. In 2018, it received equipment worth US$ 58,728 from the government of the state of Paraíba, where the municipality is located, with resources from the International Fund for Agricultural Development (IFAD).

The savings obtained with the 170 panels installed were decisive.

“Solar energy was a milestone in our history. Today we would be paying 10,000 reais (US$ 1,755) in electricity bills in the tannery alone, and now it’s down to 600 reais (US$ 105). We were able to buy two new machines that allowed us to increase production and improve the quality of the hides,” Macio said.

There was no longer any need to increase the number of panels because when they were installed they were already double what was needed at the time. Today, with this energy, it would be possible to double production and process 40,000 hides.

The original plan was to install photovoltaic panels on the roof of the tannery, but the cooperative’s board of directors came up with a better idea: to build a new roof.

Thus, they increased the drying area for the hides and they seized the opportunity to collect water from the scarce rainfall for the water-consuming treatment of the hides. Apart from the economy, the old roof could only dry 300 skins. Under the solar panels it is possible to dry 2,500.

There is no unemployment in Ribeira, a community of 1,700 inhabitants in northeastern Brazil, says Ângelo Macio, president of Arteza cooperative. Credit: Carlos Müller / IPS

There is no unemployment in Ribeira, a community of 1,700 inhabitants in northeastern Brazil, says Ângelo Macio, president of Arteza cooperative. Credit: Carlos Müller / IPS

Tradition in leather

At the beginning, the 28 founding members of Arteza were supported by the Brazilian Micro and Small Business Support Service (Sebrae), a private entity financed through a compulsory contribution from the companies. There are now 78 partners, benefiting some 400 families.

The entire micro-region of Cariri, where the municipality is located, and especially Ribeira, have a long tradition of leather work.

Macio’s great-grandfather worked with leather, but his product was rustic and consisted mainly of coarse clothes, hats and work utensils used by the herders to navigate the caatinga, the predominant biome in the northeastern interior with many thorny plants.

The cooperative’s production evolved from traditional products due to the decline of extensive cattle raising and young people’s desire for more modern products. Today, work clothes account for some 10% of the total.

Currently, the flagship product are sandals, which account for about 60% of the total production, including wallets, women’s bags and backpacks, the most expensive product, which cost the equivalent of 150 dollars.

By joining the cooperative, artisans can buy inputs such as glue and tools, as well as leather at cost price. Those who are not members and have other suppliers pay 40% more on average. Members do not need to worry about sales: they hand over the product to the cooperative, which negotiates it with the traders.

When the cooperative receives the money from the sales, it deducts the value of the inputs that the members have withdrawn. In the end, they receive a 30% profit in average.

Some artisans, however, remain faithful to traditional products. This is the case of José Guimarães de Souza, who specialised in the production of quaint ‘horn hats’.

Zé, as everybody knows him, is not a member of the cooperative, although his workshop is 100 metres from it. He learned the trade from his father, whom he reveres with a photo next to a crucifix as if he were an icon. He buys the raw material and sells his hats through a local merchant.

The cooperatives’ products are sold in craft shops all over Brazil, especially in the cities of the Northeast, where the Arteza brand is already recognised. That is why, with Sebrae’s support, the cooperative is working to establish the products’ designation of origin with their own seal next year.

The Arteza cooperative in northeastern Brazil has built a new warehouse to expand the drying of hides and install 170 solar panels, enough to generate twice the energy currently consumed by the tannery. Credit: Carlos Müller / IPS

The Arteza cooperative in northeastern Brazil has built a new warehouse to expand the drying of hides and install 170 solar panels, enough to generate twice the energy currently consumed by the tannery. Credit: Carlos Müller / IPS

“Tomorrow, anything can happen…”

In front of Souza’s workshop, called ‘Zé’s Crafts – The King of the Horn Hat’, a graffiti catches the eye. It reads: “Don’t worry, everything can happen tomorrow, even nothing”. It is the first verse of a local folk song called “The nature of things”.

The tannery was processing 16,000 skins when the pandemic started, forcing the cooperative to suspend work for more than six months. It has now reached 20,000 units. The cooperative’s income grew by 70%, including leather and handicrafts.

“The pandemic’s impact was huge. We went almost to the bottom of the well,” Macio recalled. In late 2021, the cooperative started promoting its products through Instagram and other social media to sell online. At first, this type of sales amounted to 20% of the total. Today it reaches between 35% and 40%.

In Cariri there is not so much leather and the cooperative is forced to buy it from other states. Now the cooperative’s problem is finding raw materials and labour because everyone in the community, especially young people, is already employed.

“Handicrafts have been my survival. Through it I have raised my whole family without having to leave my beloved land”, said José Carlos Castro, a founding member and former president of the cooperative. He currently works in the tannery, doing heavy work: removing the hair and defective parts of the skins.

The "chapéus de chifre", as the traditional horn hats are called, handcrafted by José Guimarães de Souza and displayed in his workshop, next to the Arteza Cooperative, in the Ribeira community. Credit: Carlos Müller / IPS

The “chapéus de chifre”, as the traditional horn hats are called, handcrafted by José Guimarães de Souza and displayed in his workshop, next to the Arteza Cooperative, in the Ribeira community. Credit: Carlos Müller / IPS

Sustainability

Arteza is the only tannery that works with natural products, such as the bark of anjico (Parapiptadenia rígida), a tree native to several South American countries. The tanning process lasts one month. If chemicals, such as chromium, were used, it would only take two days.

“We maintain a natural process to avoid environmental damage and harm to people. The natural process is in our DNA,” Macio explained. But difficulties arise. Existing trees in the region are not enough, although the cooperative avoids predatory consumption.

A few years ago, when the bark was removed, the tree died. Nowadays, the tree is cut down and sprouts again, and can be cut down again after five to six years. From what has been cut, the bark is removed, put through a shredder and placed in tanks with water where it releases the tannin.

When the tannin is gone, the bark is used as mulch for planting fodder palm, a type of cactus used for animal feed in the dry season.

The water is treated and disposed of in the wild and the shelled sticks of the anjicos are used for fencing.